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2026-08-29 00:30:00 UTC

First Secondary Sanctions Applied: US Blocks Egyptian Bank From Accessing Dollars Over 'Iran Ties'
First Secondary Sanctions Applied: US Blocks Egyptian Bank From Accessing Dollars Over 'Iran Ties'
The US Treasury Department on Friday unveiled its first 'secondary' Iran sanctions related to Trump's 'Economic D-Day' against Iran, on Friday naming an Egyptian bank in the UAE.
Ironically both of these latter countries are close American allies, and this comes at a moment the White House has failed to confirm whether the US will actually go after China for the same trade violations.
https://cms.zerohedge.com/s3/files/inline-images/egyptskylne.jpg?itok=iTeZF7FK
The UAE branches of Egypt's Banque Misr are being newly sanctioned over their business dealings with Iran, cutting off the branches' access to US financial institutions and forbidding transactions in US dollar.
"Treasury promised to sever every economic lifeline Tehran has left and finally end the threat of the Iranian regime," Treasury Secretary Scott Bessent said in a statement given to FT.
"We also warned that Iran's enablers cannot continue to enjoy access to the US dollar and the global financial system. Banque Misr UAE decided to find out the hard way and, today, we are taking the first step in holding it accountable for its continued, egregious support of the Iranian regime," Bessent added.
In addition, there is an entity which could be characterized as on the 'periphery' of China and its Iran dealings also newly named and targeted.
Treasury separately https://www.reuters.com/business/finance/us-issues-fresh-iran-related-sanctions-war-marks-six-months-2026-08-28/ sanctions on a financial entity in Hong Kong and one person linked to Iran's Bank Melli. This is "a Hong Kong entity that it said helped launder money for a sanctioned Iranian exchange house," https://www.reuters.com/business/finance/us-issues-fresh-iran-related-sanctions-war-marks-six-months-2026-08-28/ notes of the statement.
Reuters further explains of the new https://www.reuters.com/business/finance/us-issues-fresh-iran-related-sanctions-war-marks-six-months-2026-08-28/:
Egypt's central bank said on Friday that the U.S. action only affected Banque Misr's UAE branches and did not extend to any other Egyptian banks. The Central Bank of Egypt said in a statement that it and Egypt's Ministry of Foreign Affairs were in contact with the U.S. authorities about the measures.
A Treasury official also said ‌the ⁠action only applies to Banque Misr's UAE branches, allowing the bank to continue dollar transactions through its head office in Cairo and other foreign branches. These include Paris, Frankfurt, Riyadh, Beirut and Djibouti, according to Banque Misr's website.
...So even the Egypt-related action is very limited in terms of its reach. The Egyptian government has long been under the direct influence of US foreign policy, given that decades ago it made peace with Israel, and is recipient of a regular flow of billions in foreign aid going back decades.
Trump this month basically halted all over military actions against Iran, opting instead for unleashing a "most crushing economic operation" against Tehran.
.https://x.com/SecScottBessent?ref_src=twsrc%5Etfw: "The new sectoral sanctions determinations issued today target five of Iran's most vital lifelines that it exploits in other countries: digital assets, technology, gold, aviation, and shipping." https://t.co/QlTdO8jSnx
— Treasury Department (@USTreasury) https://x.com/USTreasury/status/2091972711262150878?ref_src=twsrc%5Etfw
"ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences," Trump stated on Truth Social.
But again it is still very up in the air whether Washington will actually directly target Beijing with any punitive actions over its oil trade relationship with the Islamic Republic.
https://cms.zerohedge.com/users/tyler-durden
Fri, 08/28/2026 - 20:30
https://www.zerohedge.com/geopolitical/first-secondary-sanctions-applied-us-blocks-egyptian-bank-accessing-dollars-over-iran

2026-08-28 09:00:00 UTC

'White Lives Matter' Graffiti Sparks Investigation, Suspects Face Up To 3 Years In Prison
'White Lives Matter' Graffiti Sparks Investigation, Suspects Face Up To 3 Years In Prison
https://rmx.news/article/white-lives-matter-graffiti-in-polish-city-sparks-police-investigation-suspects-face-up-to-3-years-in-prison/,
Polish prosecutors are now investigating a "White Lives Matter" graffiti as a hate crime in the city of Rzeszów, with the suspects facing up to three years in prison if they are apprehended and convicted.
https://cms.zerohedge.com/s3/files/inline-images/WLM.jpg?itok=PzVo0SIK
Painted on a wall in the Polish city of Rzeszów, the graffiti was reportedly created as a memorial to the murdered British youth Henry Nowak.
??? In Poland, prosecutors are now investigating a "White Lives Matter" graffiti as a hate crime, with the suspects facing up to 3 years in prison if they are apprehended and convicted.
Painted on a wall in the Polish city of Rzeszów, the graffiti was reportedly created as a... https://t.co/FP1HYP0cDZ
— Remix News & Views (@RMXnews) https://x.com/RMXnews/status/2092240769776037940?ref_src=twsrc%5Etfw
Polish police have reportedly secured surveillance footage and referred the case to Polish prosecutors.
However, Polish https://torzeszow.pl/rasistowskie-graffiti-na-osiedlu-kmity-zamalowane/ that cameras are not in the direct area where the wall was painted, making it difficult to identify the suspects.
Authorities also painted over the entire wall.
Major Polish news outlet wPolsce24 https://wpolsce24.tv/polska/podwojne-standardy-w-rzeszowie,237492with outrage to the investigation: "The Rzeszów case is part of a broader trend of suppressing the voices of white people who dare to remind them that their lives also have value. When black people say "Black Lives Matter," it is a fight for equality. When white people say "White Lives Matter," it is immediately racist."
The news outlet further writes: "The slogan on the garages in Rzeszów was not an expression of hatred. There was a voice reminding us that white lives matters too. And as long as we treat some lives as 'more equal' than others, such slogans will appear on walls."
Meanwhile, authorities claim the graffiti is illegal under article 257 of the Polish penal code, which concerns the public insult of a group of people or an individual based on national, ethnic, or racial identity.
A group labeled "Narodowy Rzeszów" allegedly posted a video of themselves standing next to the graffiti holding a banner and flares and displaying the logo of the right-wing National-Radical Camp (ONR), however, it remains unclear if they sprayed the graffiti themselves.
Their post pointed to violence against Whites in Great Britain and Northern Ireland. Social media platforms took the video down.
https://rmx.news/article/white-lives-matter-graffiti-in-polish-city-sparks-police-investigation-suspects-face-up-to-3-years-in-prison/
https://cms.zerohedge.com/users/tyler-durden
Fri, 08/28/2026 - 05:00
https://www.zerohedge.com/political/white-lives-matter-graffiti-sparks-investigation-suspects-face-3-years-prison

2026-08-28 08:15:00 UTC

The World's $158 Trillion Stock Market In One Chart
The World's $158 Trillion Stock Market In One Chart
In 2025, the global equity market reached a record $157.8 trillion in market capitalization, up more than $25 trillion from 2024.
This visualization, https://www.visualcapitalist.com/the-worlds-158-trillion-stock-market/ highlights the world’s major equity markets based on their 2025 market capitalization.
https://cms.zerohedge.com/s3/files/inline-images/Worlds-Equity-Market.jpg?itok=bqhu5JoC
Data has been sourced from the World Federation of Exchanges via https://www.sifma.org/research/statistics/fact-book.
The World’s Biggest Stock Market
With a total market capitalization of $68.9 trillion, the U.S. is by far the world’s largest https://www.visualcapitalist.com/ranked-the-worlds-largest-stock-markets/, accounting for roughly 44% of the global total.
The U.S. is home to the world’s two preeminent stock exchanges, the New York Stock Exchange and the Nasdaq. Shares in the overwhelming majority of the country’s largest public companies are traded on these two exchanges.
The table below lists the world’s major equity markets as of the end of 2025.
RankCountryMarket cap in 2025 ($T)Share (%)
1🇺🇸 United States68.944%
2🇨🇳 China15.510%
3🇪🇺 European Union15.510%
4🇮🇳 India10.67%
5🇯🇵 Japan7.65%
6🇭🇰 Hong Kong6.14%
7🇬🇧 United Kingdom5.64%
8🇨🇦 Canada4.63%
9🇦🇺 Australia2.01%
10🇸🇬 Singapore0.81%
--🌐 Other Developed Markets13.69%
--🌐 Other Emerging Markets6.94%
--🌎 World Total157.8100%
The U.S. has seen its dominance in global equities strengthen over the past decade. Its share of global equity market capitalization has risen by more than 10 percentage points since 2012, when it accounted for roughly one-third of the total.
Part of this rise has been driven by the strong performance of U.S.-listed tech companies like Apple, Alphabet, and NVIDIA, each of which is part of the so-called https://www.visualcapitalist.com/magnificent-seven-stock-returns-in-2025/.
China and the EU Are Nearly Tied
China ranks as the world’s second-largest equity market, narrowly ahead of the European Union. Both round to $15.5 trillion in market capitalization.
Even at that scale, each market is less than one-quarter the size of the $68.9 trillion U.S. market. Notably, many prominent Chinese companies are also listed in Hong Kong, which is itself a $6.1 trillion market.
Equities in both China and the EU have faced pressure as investors weighed geopolitical uncertainty. Nonetheless, EU-listed equities gained nearly 40% in year-over-year value as markets https://www.goldmansachs.com/insights/articles/european-stocks-defy-global-shocks-with-strong-earnings-growth to increased German spending and relative policy certainty compared with the United States.
Asia’s Other Stock Market Giants
Beyond China, Asia is home to several other major equity markets, including India ($10.6 trillion), Japan ($7.6 trillion), and Singapore ($824 billion).
Of the three, India had the most difficult 2025. Compared with nearly 19% average growth across global equities, Indian stocks gained just 2.5% on average.
A lack of domestic https://www.visualcapitalist.com/sp/ai-stocks-the-capital-raising-surge/ was a significant factor. As equities in South Korea, Taiwan, and the U.S. soared, investors redirected capital away from Indian companies.
To learn more about how the U.S. retail giants compare in annual sales, check out https://www.voronoiapp.com/business/Which-Are-the-Biggest-Retailers-in-the-US-5153 on Voronoi.
https://cms.zerohedge.com/users/tyler-durden
Fri, 08/28/2026 - 04:15
https://www.zerohedge.com/markets/worlds-158-trillion-stock-market-one-chart

2026-08-28 07:30:00 UTC

Turkey Recruits Trump Insiders For New Washington Lobbying Push
Turkey Recruits Trump Insiders For New Washington Lobbying Push
https://www.middleeasteye.net/news/turkey-recruits-trump-insiders-new-washington-lobbying-push
The Turkish government hired a lobbying firm with close ties to US President Donald Trump earlier this month under a year-long contract worth $2.4m, according to US Justice Department filings reviewed by Middle East Eye.
Ballard Partners, led by Brian Ballard, a prominent Florida Republican fundraiser who also worked on Trump’s presidential campaign, signed the agreement with Turkey’s Ministry of National Defense on August 8. The firm will receive $200,000 per month.
https://cms.zerohedge.com/s3/files/inline-images/trumperd1.jpg?itok=_E55TUSD
Under the contract, Ballard Partners pledged to provide “government relations services, strategic consulting and advocacy services” before the federal government, and keep its client informed about developments in Congress and US policy.
This is not the first time Ballard Partners has worked for Turkey.
In 2017, during Trump’s first term, Turkey https://www.politico.com/states/florida/story/2017/05/22/amid-complicated-relations-with-us-turkey-hires-longtime-trump-lobbyist-brian-ballard-112221 the firm under a $1.5m contract. It was one of Ballard Partners’ first major deals in Washington after opening an office there.
At the time, the firm https://www.courthousenews.com/turkeys-lobbyists-had-deep-access-to-trump-white-house/ focused on the sanctions-evasion case against Turkish state-owned lender Halkbank. The Trump administration’s Justice Department dropped the charges against the bank earlier this year.
The new contract differs from the previous agreement because Turkey’s defense ministry is the principal client. Ankara is seeking to rejoin the F-35 fighter jet program after being removed in 2019 over its purchase of the Russian-made S-400 air defense system.
Middle East Eye https://www.middleeasteye.net/news/russia-open-turkey-selling-s-400-systems-uae-sources-say last month that Ankara was considering selling the S-400 system to a third country, potentially the https://www.middleeasteye.net/countries/uae, in an effort to persuade Washington to lift sanctions against Turkey.
Ankara also hopes to take delivery of six F-35s that were manufactured for Turkey but have remained in storage in the US for years.
According to the Justice Department filings, the Ballard Partners team working for Turkey includes former Democratic congressman Robert Wexler of Florida, a prominent pro-Turkish voice who co-founded the Congressional Caucus on US-Turkey Relations and Turkish Americans in 2001.
Wexler is also president of the S Daniel Abraham Center for Middle East Peace in Washington and is known for his connections to pro-https://www.middleeasteye.net/countries/israel circles.
Another member of the team is Thomas Boodry, who served as a special assistant to Trump and senior director for legislative affairs at the National Security Council until April 2025. Boodry was dismissed amid the removal of former US National Security Adviser Mike Waltz.
https://www.theguardian.com/us-news/2025/apr/03/laura-loomer-trump-meeting at the time suggested that Trump fired Boodry and five other officials shortly after meeting far-right activist Laura Loomer, who presented opposition research on several staff members and argued that they were disloyal to the president.
REPORTER: "Prime Minister Netanyahu opposes sending the F-35s to Turkey..."
PRESIDENT TRUMP: "Nobody tells me what we should be selling or not. Turkey has been a tremendous ally." https://t.co/F0sdwvIYfE
— Breaking911 (@Breaking911) https://x.com/Breaking911/status/2081802044013167023?ref_src=twsrc%5Etfw
The team also includes Syl Lukis, a senior partner at Ballard Partners and one of Ballard’s closest associates.
Bloomberg https://news.bgov.com/bloomberg-government-news/trump-linked-lobbyists-land-big-money-foreign-client-contracts earlier this year that Ballard Partners’ alums include White House Chief of Staff Susie Wiles and former Attorney General Pam Bondi.
The firm generated more than $30m in federal lobbying revenue during the first quarter of 2026, more than any other firm on Washington’s K Street.
https://cms.zerohedge.com/users/tyler-durden
Fri, 08/28/2026 - 03:30
https://www.zerohedge.com/geopolitical/turkey-recruits-trump-insiders-new-washington-lobbying-push

2026-08-28 06:45:00 UTC

CIA Chief's Moscow Trip Was About Iran, Not A NATO Warning: Estonia's Ex-President
CIA Chief's Moscow Trip Was About Iran, Not A NATO Warning: Estonia's Ex-President
Speculation has abounded over the nature of CIA Director John Ratcliffe's surprise Tuesday trip to Moscow and what was conveyed to top Kremlin intelligence officials.
The 'official' Washington narrative of what was behind the trip was issued on Wednesday in the pages of https://www.wsj.com/politics/policy/cia-chiefs-surprise-moscow-trip-was-to-warn-russia-not-to-attack-nato-c2d997f3, which laid out Ratcliffe delivered a "warning to Russia not to attack NATO countries, according to people briefed on the visit."
https://cms.zerohedge.com/s3/files/inline-images/ivesest.jpg?itok=OeKqQK3w
Since then, media reports and pundits have mused that nearby small 'eastern flank' countries like Estonia, Latvia or Lithuania could be prime targets for some kind of Russian military action, at a moment Europe's support to Kiev has steadily ramped up.
Surprisingly, on Thursday former Estonian president Toomas Hendrik Ilves (president: 2006 – 2016), who remains influential voice in the European security debate and has served on an EU task force, told a European outlet that the CIA director's meeting was more likely centered on the Iran conflict and not on warning against attacking Europe.
Ilves in a freshly published interview with https://www.euronews.com/my-europe/2026/08/27/cia-boss-moscow-trip-was-about-iran-not-the-baltics-ex-estonian-president-tells-euronews said he had "severe doubts" that concerns over aggression against the Baltic states were the reason for Ratcliffe's visit.
"What is the real problem for the United States right now? The real problem is Iran, the fact that the Russians are giving targeting information to the Iranians," he said.
"Those are real problems for the United States, and that would be sufficient to warrant the director of the CIA to go to Moscow to tell them to back off."
US intelligence and Trump officials for months have alleged that Russia is likely helping Iranian forces with identifying and locating US military assets in the region. At times throughout Operation Epic Fury, Tehran appears to have even targeted CIA stations.
The bulk of American military assets and bases in the Gulf countries have suffered severe damage earlier in the conflict, resulting in a Pentagon troop drawback to safer areas. This is indeed a big deal if it is the case that Russia or China (or both) have handed the Iranians intel to help push back American bases and forces.
Former Estonian leader Ilves further explained that in reality there had been "no change in the US’s threat assessment for the Baltic states."
Yesterday CIA Director John Ratcliffe traveled to Moscow. The visit was brief but quickly fueled widespread discussion and speculation.
Official statements from Russia and Washington remain silent on the reason for the trip. Details about his counterparts remain unavailable as… https://t.co/0W7t0i72Pq
— Chay Bowes (@BowesChay) https://x.com/BowesChay/status/2092703682483655114?ref_src=twsrc%5Etfw
"If the purpose was to go and genuinely tell the Russians not to do anything in the Baltic states, as was claimed, then there would be some kind of activity here," he https://www.euronews.com/my-europe/2026/08/27/cia-boss-moscow-trip-was-about-iran-not-the-baltics-ex-estonian-president-tells-euronews.
Also, Estonian Foreign Minister Margus Tsahkna announced Thursday that the country’s threat assessment had "not changed". Tsahkna said: "We remain vigilant, but Estonia’s threat assessment has not changed."
Ilves concluded in his comments that the official narrative is but cover for the real reason underlying Ratcliff's visit.
Skepticism has been widely voiced among independent journalists and pundits:
CIA chief urgently flew to Moscow in the middle of America’s losing war against Russia’s ally Iran, and the reason had nothing to do with a desperate attempt to turn Russia against Iran, but rather “Putin could try…limited assault on an allied country in the next few years”? 🤔 https://t.co/WmNYnGstfo
— Mark Ames (@MarkAmesExiled) https://x.com/MarkAmesExiled/status/2092756465618428144?ref_src=twsrc%5Etfw
"I don’t think it’s a false flag, but rather just kind of make something up to divert attention from what is the real problem that the US faces right now," the Estonian ex-President said.
https://cms.zerohedge.com/users/tyler-durden
Fri, 08/28/2026 - 02:45
https://www.zerohedge.com/geopolitical/cia-chiefs-moscow-trip-was-about-iran-not-nato-warning-estonias-ex-president

2026-08-28 06:00:00 UTC

Well This Is Very Awkward...
Well This Is Very Awkward...
https://modernity.news/2026/08/27/well-this-is-very-awkward/,
A street interview doing the rounds this week encapsulates the entire European open-borders agenda in under two minutes.
https://cms.zerohedge.com/s3/files/inline-images/funnymod.jpg?itok=yB8U5Ano
Older Spaniards nod along when asked if they would welcome a migrant into their home, saying it would make for a much better system if everyone did so.
Solidarity, humanity, of course. Then the interviewer produces a real migrant looking for a home and suddenly everything changes.
Funniest thing I've watched this week.
Boomers in Spain get asked if they'd accept a migrant into their home. They say yes. Chad offers them one. And instantly, they change their mind. https://t.co/2ruX39i0Mh
— Casey Krol (@CaseyKrol) https://x.com/CaseyKrol/status/2092689982460657719?ref_src=twsrc%5Etfw
The interviewer presents the couple with a Nigerian man named Sony who plays guitar on the pavement for small change - and their previous answers collapse into excuses, holidays, "not right now," and finally "no, no, no, no, no."
The clip, shared by Casey Krol and filmed in the Rescue You style, is the kind of unscripted moment the official narrative cannot survive. Abstract empathy and virtue signalling is easy, but when the reality of the situation is presented, everything is turned on its head.
The couple in the video are not monsters. They are ordinary people who have absorbed years of hectoring lecturing and know the approved answer. They just refuse to live it.
The same pattern repeats at every level in Europe: politicians, NGOs, and detached citizens demand that someone else absorb the costs of mass low-skilled inflows while they keep their own postcodes intact.
Spain's socialist government has spent years selling the opposite message. Prime Minister Sánchez has called migration "one of the great engines of national development" and an "act of justice and a necessity."
He has framed legalization as recognition that hundreds of thousands already "form part of our everyday lives." Globalist Alex Soros praised him for it, saying Sánchez showed "what real leadership looks like" and "We need more elected leaders like him."
The public has not bought it wholesale. A Sigma Dos poll for El Mundo found 70 percent of Spaniards support mass deportation of illegal immigrants - including 57 percent of PSOE voters. Only the far-left Sumar base rejects the idea.
The latest explosion for Spain came at the end of July when more than 70,000 people poured into the tiny North African enclave of Ceuta from Morocco in two days. Beaches, schools, and parks filled with tents, waste, and disease. Scabies, measles, and tuberculosis appeared among police and residents. Locals described playgrounds and sand turned into shit covered slums.
The chaos did not stay in Ceuta. Boats began hitting mainland tourist coves. In Cartagena, dozens of military-age men leapt onto a packed beach in full view of families. Mayor Noelia Arroyo said: "This cannot be normalised. We cannot accept that human trafficking mafias have such an easy time reaching our shores." Former mayor Francisco Bernabe asked how a boat that size evaded radar: "Are they broken? Do they have them turned off?"
This week the tension in Ceuta boiled over again. Residents marched on the migrant camp at El Trampolín beach, tore down tents, and threw belongings into the sea. Police fired warning shots to keep the two groups apart. The city of 84,000 has been told to absorb what Madrid will not remove.
?? Ceuta residents have taken to the streets to protest the Spanish government's handling of the migration crisis and demand the removal of migrants from public areas.
Follow: https://x.com/europa?ref_src=twsrc%5Etfw https://t.co/QdlyKOwB4J
— Europa.com (@europa) https://x.com/europa/status/2092774618826223895?ref_src=twsrc%5Etfw
Sánchez oversaw a royal-decree regularization - no parliamentary vote - sold as covering 500,000 people. Applications blew past one million. Successful applicants get residence, work permits, benefits, and a path to citizenship that opens the entire Schengen zone.
The paperwork tsunami was immediate. Thousands of military-age men queued at consulates and registry offices in Madrid, Barcelona, Seville, Valencia, and Almería. Some camped overnight.
Others climbed embassy walls when appointments ran out. Union officials warned of collapse.
One municipal delegate said daily social-service requests in Madrid jumped from 1,500 to 5,500. Vox's Santiago Abascal called it an accelerating "invasion." Polish MEP Anna Bry?ka said left-wing governments were "bringing about the collapse of the Schengen Area and mocking the safety of Europeans."
When patriots protested the amnesty, they were met by socialist counter-mobs.
The labor market tells the same story. Foreign-born workers now hold 52.6 percent of unskilled construction jobs and outnumber Spaniards in those roles. Since 2019 the sector has lost more than 22,000 Spanish workers and gained 238,000 foreign ones. Bricklayers, plumbers, and electricians show the same slide. Spain's youth are not replacing the retiring generation; imported labor is.
Meanwhile, foreigners commit five times more rapes and four times more murders per capita than Spaniards. In Catalonia, 91 percent of convicted rapists are migrants, who make up 17 percent of the population. Reported rapes in Spain rose 322 percent in a decade. Penetrative rape cases more than doubled between 2019 and 2024.
The streets have turned into blood baths. Recently, a North African migrant shouted "Allah" while stabbing a young woman to death in Esplugues de Llobregat; a 58-year-old man who tried to intervene was also attacked.
The same weekend produced more stabbings and a shooting.
A man employed to evict migrant squatters was lynched and stabbed by a mob.
A Gambian migrant stabbed a police officer while shouting "Allahu Akbar."
A repeat offender stomped a local man's head.
Citizens rioted after an elderly man was beaten.
And on and on and on.
Many of the "unaccompanied minors" driving the migrant numbers are not minors at all. In Madrid, 70 percent of those tested by bone-age X-ray were adults. The same fraud appears across Europe.
Seventy percent of the country already knows the solution is removal, not more lectures about housing the next arrival.
The people who designed this system will keep calling it compassion. They will keep living somewhere the consequences do not reach. Ordinary Spaniards are the ones facing the dire fallout.
Your support is crucial in helping us defeat mass censorship. Please consider donating via https://pauljosephwatson.locals.com/support or check out our unique https://modernity.news/shop. Follow us on X https://x.com/modernitynews.
https://cms.zerohedge.com/users/tyler-durden
Fri, 08/28/2026 - 02:00
https://www.zerohedge.com/geopolitical/well-very-awkward

2026-08-28 03:25:00 UTC

The Economic Tsar Who Built Modern China-And Whose Reforms The CCP Is Dismantling
The Economic Tsar Who Built Modern China-And Whose Reforms The CCP Is Dismantling
https://www.theepochtimes.com/opinion/the-economic-tsar-who-built-modern-china-and-whose-reforms-the-ccp-is-dismantling-6076873?utm_source=partner&utm_campaign=ZeroHedge,
Former Chinese Premier Zhu Rongji, the hard-edged reformer who engineered China's rise from planned-economy backwater to global manufacturing giant, died this month at the age of 97.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281092%29.jpg?itok=IkxxdYOh
His legacy-tax centralization, mass layoffs, China's accession to the World Trade Organization (WTO), and a brief, forgotten moment of tolerance toward Falun Gong-now stands as both the foundation of modern China's wealth and a stark reminder of how easily that progress can be reversed.
Zhu's Legacy of Economic Reform
After the decade-long Cultural Revolution pushed the regime to the brink, then-Chinese Communist Party (CCP) leader Deng Xiaoping pivoted China toward market reforms. He relied on pragmatic trial and error rather than a rigid master plan, describing his step-by-step approach as "crossing the river by feeling the stones."
Zhu executed that vision. As vice premier and premier from 1991 to 2003, China's "economic tsar" used iron-fisted reforms to engineer the country's rise, including restructuring fiscal policy, dismantling inefficient state-owned enterprises, and securing China's entry into the WTO.
Zhu was officially credited with advancing China's landmark tax-sharing reform in the 1990s, which centralized much of the country's tax revenue in Beijing. That reform undeniably strengthened the central government.
However, it stripped local governments of steady tax income, forcing them to rely on selling land to fund local budgets. Paired with state ownership of land, this shift created a "land-finance" model that drove housing prices sky-high and triggered today's ongoing property crisis.
It isn't the tax reform alone that is to blame. China's system of state and collective land ownership is what enabled large-scale land sales in the first place.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281093%29.jpg?itok=3V8I0bai
The obituary also praises Zhu for safeguarding Hong Kong's status as a global financial center. Ironically, Hong Kong's diminished standing today stems largely from policies adopted under CCP leader Xi Jinping-making praise for Zhu an implicit rebuke of China's current leadership.
WTO Entry-and Its Costs
One of Zhu's most consequential achievements was leading China to join the WTO in 2001.
To prepare the country for global trade, Zhu aggressively restructured inefficient state-owned enterprises. While this boosted efficiency, it triggered mass layoffs, displacing tens of millions of workers.
Unlike post-Cold War America, China's nascent private sector was too weak to absorb the surge of unemployed labor.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281094%29.jpg?itok=gyJs8ocI
The aggressive restructuring stripped millions of workers of their livelihoods, leaving them with virtually no safety net. While the reforms eventually sparked massive economic growth, the workers who bore the cost were largely left behind without fair compensation.
The Premier Who Called Out Shoddy Construction
When the Yangtze River dikes failed during the 1998 summer floods, Zhu inspected the breach in Jiujiang, Jiangxi Province, and discovered that the construction had cut corners and used shoddy materials. Furious, he publicly denounced the dam as a "bastard project" and dubbed it a "tofu-dregs project"-comparing the crumbling concrete to the brittle, worthless pulp residue left over from making soy curd.
As long as corruption remains a recurring public concern in China, the term "tofu-dreg project" will likely remain part of the country's political vocabulary and a defining mark of Zhu's legacy.
The Premier Who Listened-Meeting With Falun Gong
One episode stands apart from Zhu's economic legacy. In the late 1990s, Zhu and the entire Politburo Standing Committee opposed then-CCP leader Jiang Zemin's decision to suppress Falun Gong, according to https://www.theepochtimes.com/china/anything-for-power-the-real-story-of-chinas-jiang-zemin-chapter-12-997188?utm_source=partner&utm_campaign=ZeroHedge.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281095%29.jpg?itok=pGMLjVvO
On April 25, 1999, roughly 10,000 Falun Gong practitioners gathered peacefully near Zhongnanhai, the CCP's headquarters, in Beijing to petition the authorities for freedom of belief. Earlier in the month, dozens of practitioners in Tianjin had been detained by local police for their faith.
In a bold move for an official, Zhu met directly with representatives, listened to their grievances, and ordered the release of the detained practitioners, along with an assurance that practitioners would have a lawful environment in which to pursue their practice.
The spiritual discipline was introduced to the Chinese public in 1992 and gained widespread popularity, attracting at least 70 million practitioners by the late 1990s.
At an internal leadership meeting the following day, according to insider accounts, Zhu suggested that suppression would harm the country's image and that the regime should leave Falun Gong practitioners alone. Jiang, afraid of the practice's growing popularity, responded that doing so would bring down the Party.
Months later, Jiang launched a sweeping, nationwide campaign against Falun Gong-initiating a persecution that continues today.
Reform Can Be Reversed Overnight
Zhu's death cast an unexpected shadow over Xi's plans to commemorate Jiang with unusually high political honors, an effort intended to elevate Jiang alongside the CCP's founding generation. Instead of highlighting Jiang's legacy, Zhu's passing reminded the public that the reforms of China's most prosperous era owed far more to Zhu.
It was Zhu who was behind Deng and the CCP in launching the Shanghai Stock Exchange in December 1990-now a global financial powerhouse that hosts major state-owned enterprise listings.
Although Zhu was the official most responsible for driving China's reform era, Xi's policies have now largely dismantled that work. That contrast reveals the ultimate lesson of Zhu's legacy: under totalitarian rule, no amount of reform is secure-it can all be undone overnight.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 23:25
https://www.zerohedge.com/geopolitical/economic-tsar-who-built-modern-china-and-whose-reforms-ccp-dismantling

2026-08-28 03:00:00 UTC

FDA Clears Blood Test To Detect Signs Of Alzheimer's Disease
FDA Clears Blood Test To Detect Signs Of Alzheimer's Disease
Federal regulators have cleared a blood test aimed at detecting signs of Alzheimer's disease.
The Food and Drug Administration cleared a blood test known as Elecsys pTau-217 for people aged at least 55 who have shown signs of, or have been complaining of, cognitive decline, Roche announced on Aug. 24.
The test, which can be used by primary care doctors and specialists, detects a biomarker called plasma phosphorylated tau 217. In a study that ran from 2004 to 2025 and was published in JAMA, researchers found that higher levels of the biomarker were associated with an increased risk of progression to cognitive impairment.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281086%29.jpg?itok=YsGmRgjk
https://www.theepochtimes.com/us/fda-clears-blood-test-to-detect-signs-of-alzheimers-disease-6079236?utm_source=partner&utm_campaign=ZeroHedge, the FDA has previously approved several other tests for Alzheimer's, beginning in 2025 with a test from Fujirebio Diagnostics that measures both pTau217 and another protein. Roche said its test is the first to measure a single biomarker.
"Elecsys pTau217 has the potential to transform how Alzheimer's is assessed across primary and specialty care," Dan Malarek, president and CEO of Roche Diagnostics North America, said in a statement.
"This kind of innovation can help bring diagnostic evaluation closer to patients and give clinicians greater confidence in determining the right step in their care."
Alzheimer's is a brain disorder that destroys a person's memory and thinking skills over time. People with the disease gradually become unable to perform tasks such as eating and walking. Many people begin experiencing symptoms such as memory difficulties between the ages of 60 and 70.
The Alzheimer's Association and other groups have welcomed the tests as a less invasive option than other methods, such as testing of cerebrospinal fluid.
"Each FDA clearance gives clinicians another validated option to work with when evaluating patients showing signs of cognitive impairment," Maria C. Carrillo, the association's chief science officer and medical affairs lead, said in a statement.
"That's real progress for a field that, for decades, had far too few tools to offer."
Dr. Carole Ho, executive vice president and president of Lilly Neuroscience, which helped develop the test, said in a statement that "for millions of families navigating the uncertainty of Alzheimer's disease, a timely diagnosis is the first and most critical step toward meaningful care."
Labcorp and Quest Diagnostics said they will carry the new test.
Once ordered by a doctor, patients can have their blood drawn for the test in a doctor's office, a Labcorp service center, or a Quest center.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 23:00
https://www.zerohedge.com/medical/fda-clears-blood-test-detect-signs-alzheimers-disease

2026-08-28 02:35:00 UTC

Brasília Makes Friends With Beijing
Brasília Makes Friends With Beijing
https://fee.org/articles/brasilia-makes-friends-with-beijing/,
On a Sunday night in late July, Brazil's Luiz Inácio Lula da Silva and China's Xi Jinping spoke for more than an hour. It was cordial and faintly triumphant, with the two governments announcing their intention to accelerate https://www.scmp.com/news/china/diplomacy/article/3362042/brazil-turns-china-trade-deal-after-trumps-tariffs-years-resistance-end. Alongside this, there are plans to deepen cooperation on satellites and critical-minerals processing, and waive short-stay visa requirements.
https://cms.zerohedge.com/s3/files/inline-images/Brasilia-Makes-Friends-with-Beijing-768x430_80.jpg?itok=N3nc4OmL
This marks a serious change for Brazil. For years, it was Brasília that https://www.scmp.com/news/china/diplomacy/article/3362042/brazil-turns-china-trade-deal-after-trumps-tariffs-years-resistance-end to exactly this sort of deal within the Mercosur bloc. The reversal was as sudden as it was shocking, taking only a fortnight to emerge, following a new American tariff taking effect and the Brazilian president deciding that the cost of alignment with the United States had, at last, exceeded its benefits.
Confronted with a United States that has moved from partner to antagonist, Brazil sees itself as neither retaliating in kind nor capitulating; it is hedging, deliberately, on several fronts at once. For many observers, this is a rational reaction to the emergence of an increasingly multipolar world. But just under a century ago, this practice had a name: "pragmatic equidistance." It was the way Brazil described its international strategy of balancing relationships with competing powers without committing to either.
The ongoing and escalating international trade war fueled by retaliatory tariffs has been the main catalyst here. In late July, a 25% tariff covering a broad range of Brazilian goods came into effect; per the Brazilian https://en.mercopress.com/2026/07/25/brazilian-industry-estimates-nearly-half-its-us-exports-will-face-additional-tariffs, nearly half of all Brazilian exports to the United States are now subject to some form of additional duty. Alongside the general tariffs, a "forced-labor" levy of 12.5% was introduced by the US to enforce bans on importing goods made with forced labor abroad, which in many ways represents a globalization of America's existing ban on Chinese goods using forced labor.
It is estimated that the hardest-hit goods carry a combined tariff of 37.5%.
President Lula's response has been to reframe the introduction of these tariffs as Washington's error rather than Brazil's, calling the tariffs a "https://www.washingtonpost.com/opinions/2026/07/26/lula-says-trumps-brazil-tariffs-are-strategic-mistake/" in the Washington Post, and warning that the tariffs will drive Brazilian firms to replace their American suppliers with partners elsewhere.
The rhetoric is only part of it, though: Brazil has https://news.bloombergtax.com/daily-tax-report/brazil-files-complaint-with-wto-against-us-tariffs to challenge both the broad tariffs and the forced-labor levy as breaches of the 1994 General Agreement on Tariffs and Trade (GATT). The effectiveness of these consultations is up for debate given the WTO's general paralysis, but what matters more is what this reveals for Brazil's international-relations strategy: it is pragmatic equidistance on display. Brazil has filed the complaint with the WTO, while continuing negotiations with the US.
Meanwhile, Brazil is attempting to hedge its bets by engaging with the wider global economy. This month, https://apexbrasil.com/aboutapexbrasil (the Brazilian Trade and Investment Promotion Agency) has launched a https://www.freshplaza.com/north-america/article/9859230/brazil-to-launch-us-23-4-million-export-diversification-plan/ to support just shy of 2,500 exporters across 57 industries in their search for new markets, including the EU, Southeast Asia, and Central Asia.
Simultaneously, the Mercosur bloc is actively pursuing parallel deals with India, Japan, and Canada, with Brazil at the heart of this strategy. Lula has enacted the https://datamarnews.com/noticias/brazil-enacts-mercosur-singapore-free-trade-agreement/, the bloc's first with a Southeast Asian economy, under which Brazilian exports will progressively enter duty-free.
What is also interesting is what the imposition of these tariffs has meant for Lula at home. Many Brazilians read the tariff regime as https://www.wsj.com/world/americas/brazil-sees-a-trump-led-effort-to-tilt-election-against-lula-4eae7f55 that are due to take place in October 2026, which in turn has allowed Lula to https://apnews.com/article/brazil-lula-flavio-bolsonaro-foreign-interference-election-22cccc3135b09e2186898dd3cb394ed4 against foreign interference. This strategy has borne fruit: Lula's polling has remained steady in the mid-40s, while Flávio Bolsonaro-the only other major contender-has seen his popularity steadily decline since April 2026, https://en.wikipedia.org/wiki/Opinion_polling_for_the_2026_Brazilian_presidential_election#/media/File:2026_brazilian_presidential_election_polls.svg.
It may not have helped Bolsonaro that his presidential bid launch saw him https://www.aljazeera.com/news/2026/7/26/bolsonaros-son-begins-brazil-presidential-bid-with-netanyahu-milei-kudos, with few Brazilian politicians in the room. International campaigning is increasingly common, but in a climate skeptical of foreign interference, that move may have been more than a little tone-deaf, especially given the https://elpais.com/america/2026-07-28/milei-mas-que-un-conflicto-con-lula.html.
Not only this, but when the US sent election officials to verify the integrity of Brazil's electoral system, https://apnews.com/article/brazil-ambassador-milei-argentina-bolsonaro-43f2f81a3f51ccb35d5b143ae59ba756. For a public that is https://www.aljazeera.com/news/2026/7/23/us-tariffs-strengthen-lula-against-bolsonaros-son-in-upcoming-elections, this was a message that landed exactly in the way it was needed to.
Most notable, however, is Brazil's attempt to sidestep all of this via improved trade relations https://www.globaltimes.cn/page/202308/1296495.shtml. Of course, Mercosur is a customs union, and so all members must negotiate jointly-which is why a proposed China agreement has been formally https://aric.adb.org/fta/peoples-republic-of-china-mercosur-fta. In this, Brazil had been the brake, while Uruguay had spent years advocating for the trade agreement, and pursuing its own China talks whilst the other Mercosur members stalled.
https://www.malaymail.com/amp/news/money/2023/01/26/brazils-lula-says-urgent-for-south-american-trade-bloc-mercosur-to-seal-eu-deal-before-china-talks/51945 to argue that Mercosur should secure an EU deal first, and only then negotiate with China. With this deal https://newsonair.gov.in/eu-south-american-bloc-mercosur-sign-major-deal-to-create-one-of-worlds-biggest-free-trade-zones/-after 26 years of negotiations-and coming into effect in Brazil in April, the roadblock had been cleared. At least, on Brasília's end: Argentina's President Javier Milei is ideologically opposed to China, and will likely veto any deal pursued by Mercosur. China is already Brazil's largest trading partner, with https://www.riotimesonline.com/china-mercosur-trade-deal-accelerated-lula-xi/, and a deal could meet Brazil's other strategic interests, such as widening agricultural access.
Regardless, Brazil has been hedging its international trade relations with careful maneuvering, and in the long run, this may be the smart move.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 22:35
https://www.zerohedge.com/geopolitical/brasilia-makes-friends-beijing

2026-08-28 02:10:00 UTC

Jury Weighs Whether "Darn Good Mother" Lindsay Clancy Is Criminally Liable For Murdering Her 3 Kids
Jury Weighs Whether "Darn Good Mother" Lindsay Clancy Is Criminally Liable For Murdering Her 3 Kids
Jury deliberations in the Lindsay Clancy murder trial started on Aug. 27 after five weeks of testimony.
Clancy, a former labor and delivery nurse, is accused of killing her three young children while her now-ex-husband was running errands in January 2023.
The 36-year-old mother faces three counts of first-degree murder, one for each child: Cora, 5, Dawson, 3, and 8-month-old Callan.
Judge William Sullivan gave the jury the option to instead consider second-degree murder or manslaughter.
Only a few hours of deliberations happened before Sullivan ordered a recess until 9 a.m. on Friday at the Plymouth Superior Court in Plymouth, Massachusetts.
No verdict was reached on Thursday.
https://cms.zerohedge.com/s3/files/inline-images/image%20-%202026-08-27T144917.505.jpg?itok=oxkScG-Q
In his closing argument on Aug. 27, https://www.theepochtimes.com/us/jury-weighs-whether-lindsay-clancy-is-criminally-liable-for-murder-of-3-children-6080451?utm_source=partner&utm_campaign=ZeroHedge, that defense attorney Kevin Reddington urged jurors to find Clancy not guilty by reason of insanity, alleging that “her mind was gone” during the killings and said she was in the throes of postpartum psychosis.
“This young lady is not guilty of the killing of her children because she was suffering from a disease and defect, as his honor instructed you,” Reddington told jurors in closing arguments.
“And they’re not going to be able to prove otherwise.”
Additionally, Reddington describved the accused murderer by saying: "This young lady did nothing wrong in her life. She was… a darn good mother."
Lindsay Clancy’s defense attorney:
“This young lady did nothing wrong in her life. She was… a darn good mother.” https://t.co/mL03GAuHlg
— Daily Wire (@realDailyWire) https://x.com/realDailyWire/status/2092999850090533139?ref_src=twsrc%5Etfw
Clancy admitted to strangling her kids with exercise bands in the basement of their home in a coastal Boston suburb, slicing her wrists and neck with a knife, and jumping out of a window in a failed suicide attempt, which left her paralyzed.
Her now-ex-husband, Patrick, said that months before the incident, the mother told him she was having thoughts of suicide and harming their kids.
Clancy was also prescribed medications and checked into a psychiatric hospital ahead of the incident.
Her then-husband testified that Clancy had a “normal” demeanor when he left to run errands that day.
When he returned, he found his injured wife, who informed him that the kids were in the basement.
Clancy detailed what happened in a call with him a week after the incident, he said.
“She heard a man’s voice telling her that if she didn’t do it now, she would lose her chance or something like that,” he testified.
Prosecutors acknowledged that Clancy suffered from mental health issues but said she carried out the killings while knowing it was wrong.
“This case is not about our mental health system or how it treats women,” Assistant District Attorney Jennifer Sprague told jurors.
“That’s a distraction to get you angry and passionate about an important issue, but an issue that’s not on trial here.”
Clancy faces life in prison with no possibility of parole if she is convicted on any of the first-degree murder charges she faces.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 22:10
https://www.zerohedge.com/political/jury-weighs-whether-darn-good-mother-lindsay-clancy-criminally-liable-murdering-her-3

2026-08-28 01:20:00 UTC

Mayor Of Indiana City Claims Race Discrimination After Delayed Utility Repairs
Mayor Of Indiana City Claims Race Discrimination After Delayed Utility Repairs
If a group's entire world view is built on the notion that they are perpetual victims because of their race, every time something bad happens to them they are going to go looking for racism as the scapegoat. In other words, they are going to see "racism" under every rock and behind every tree. They will even see racism in a power outage.
When it come to the black community in the US, though, most of the bad things that happen in their neighborhoods are directly caused by their own behavior.
In mid-August a powerful windstorm hit northwest Indiana. Gusts reached around 99 mph in Gary, comparable to a Category 2 hurricane. The violent weather toppled trees onto lines, snapped hundreds of poles, and damaged transmission structures and substations.
The repairs have been difficult and slow moving. This week NIPSCO (the Northern Indiana Public Service Company) reported that 99% of customers in the region had their power back, however, Gary Mayor Eddie Melton (Democrat and mayor since 2024) took to the left-wing media to make political hay out of the incident.
In an interview with far-left activist "journalist" Don Lemon, the mayor answered in the affirmative when asked if he thought the large black population of Gary was the reason the utility companies were slow to finish repairs, suggesting that there was a racial element to the city's longer wait time.
After a heavy storm in Gary, Indiana, the mayor went on the Don Lemon show and implied that the power was off for 13 days because of racism because Gary is a predominantly black city.
But, the electric company, NIPSCO, claimed that they were being shot at while they were trying… https://t.co/ZfPUpU84VD
— John K. Amanchukwu Sr. (@REVWUTRUTH) https://x.com/REVWUTRUTH/status/2092402885896085725?ref_src=twsrc%5Etfw
Other media outlets also asserted that Gary was being singled out for slower repairs because of the community's https://www.theroot.com/as-the-city-prepares-for-another-weekend-without-power-2000122177; comparing the event to the disastrous FEMA response to Hurricane Katrina in New Orleans. Indiana Governor Mike Braun (a Republican) has called for an investigation into the two week power outages in some areas of the state, though he has not supported any arguments of racial discrimination.
The delays in Gary can be easily explained by simply asking NIPSCO and checking with local police: The company had to hold off on repairs and find extra security for their line workers after scouts identifying damages were shot at in a predominantly black neighborhood. At least one NIPSCO vehicle was hit multiple times by gunfire and the workers pulled out of the area.
Police were called to the scene but never found the shooters. This news https://www.cbsnews.com/chicago/news/nipsco-vehicle-hit-by-gunfire-gary-indiana/, yet the Gary Mayor and the left-wing media have apparently ignored it.
https://cms.zerohedge.com/s3/files/inline-images/GaryMayor1.jpg?itok=MNbkQPLq
As a result of the attack, the city had to coordinate with city police, Indiana State Police, and state officials to ensure crews were protected during the restoration process. The city added that ISP sent additional troopers to assist local forces. This takes time and adds extensive delays.
In other words, the violence inherent in black neighborhoods led to their own suffering. The inability to behave, even during a grid-down crisis, made it https://www.chicagotribune.com/2026/08/15/security-beefed-up-after-nipsco-linemen-shot-at-in-gary/ to do their jobs.
The opportunism of activist politicians looking for racial victim-points is a dying business. Americans have had enough of race hysteria, BLM and the eternal quest for minority handouts and pity. Mayor Eddie Melton and agitators like Don Lemon will likely be dragged by the public for their behavior here.
That said, the crisis represents yet another example of leftist activists deliberately jumping to conclusions. They are so desperate to make the public believe "systemic racism" is real that they are willing to agitate and exaggerate for the sake of narrative. Eventually, they will end up creating the very anti-minority sentiment that they claim to be fighting against. Keep accusing people of racism after they tried to help you, and they will stop helping you.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 21:20
https://www.zerohedge.com/political/mayor-indiana-city-suggests-race-discrimination-after-delayed-utility-repairs

2026-08-28 00:55:00 UTC

Trump's Energy Policy Could Cost US 540 GW Of Renewables, Says NRDC
Trump's Energy Policy Could Cost US 540 GW Of Renewables, Says NRDC
By Diana DiGangi of https://www.utilitydive.com/news/trumps-energy-policy-could-cost-us-540-gw-of-renewables-says-nrdc/828826/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202026-08-26%20Utility%20Dive%20Newsletter%20%5Bissue:88548%5D&utm_term=Utility%20Dive
Aspects of the Trump administration’s energy policy - such as the rollback of Inflation Reduction Act tax credits, the introduction of new tariffs and offshore wind lease buybacks - could cause the U.S to lose between 390 GW and 540 GW of new wind, solar and energy storage capacity over the next decade, according to projections from the Natural Resources Defense Council.
https://cms.zerohedge.com/s3/files/inline-images/renewables%202.jpg?itok=9W9oqNz2
“Crucially, these lost projects are not actually replaced with other sources of new power,” the NRDC said in a Wednesday report. “At most, https://www.nrdc.org/press-releases/nrdc-report-how-trumps-actions-are-hiking-utility-bills-and-destroying-investments is added with Trump’s policies in place.”
The report cited near-term https://www.utilitydive.com/news/gas-turbine-supply-crunch-set-to-raise-prices-195-by-2027-woodmac/816904/, volatile fuel prices, “and the general cost-competitiveness of new renewables relative to gas” as reasons for the NRDC’s low estimate for new additional gas investment.
An August report from Global Energy Monitor counts https://globalenergymonitor.org/research/us-gas-power-proposals-tied-data-centers-nearly-double-six-months currently in the announced, pre-construction, and construction phases in the U.S., a number which “nearly doubled” in the first half of the year, “but uncertainty persists about how and when this capacity gets built.”
“Two-thirds of gas-fired capacity in development globally, and more than half of projects tied to data centers, do not have a named turbine/engine manufacturer,” Global Energy Monitor said. “Nearly one-quarter of projects earmarked for data centers do not have a named start year. Turbine supply constraints, financing uncertainty, local data center moratoriums, and mounting public opposition leave the true scale of the gas power buildout uncertain.”
Amanda Levin, NRDC’s director of policy analysis, said during a Tuesday press call that the group’s modeling still anticipates “significant growth in renewables under this administration. But we don’t go nearly as far, and we lose more than half of everything that we expected to be able to build with the combination of market forces and proactive policy.”
Both Levin and the Global Energy Monitor report noted that due to order backlogs for gas turbines for combined-cycle plants, developers who need to bring firm power online quickly are turning to alternatives like simple-cycle or reciprocating engine plants, which “are less efficient than combined-cycle plants and carry higher emissions per unit of electricity generated,” Global Energy Monitor said.
Levin said this trend supports the NRDC’s position that the https://www.utilitydive.com/news/electric-co-ops-repeal-epa-gas-power-plant-emissions-rules/828377/, though the Trump administration has announced its intention to do so.
The trend “highlights actually the value of these types of standards … which is that the market is not acting in a perfectly rational economic way,” she said. “These types of regulations could prevent this type of highly polluting type of power generation by requiring us to think about how we are building out this gas that we’re trying to build over the next few years to meet this growing load.”
The NRDC’s report also forecast an increase in power costs due to a need to “rely more heavily on the existing, higher-cost legacy fossil fuel system” in absence of new renewables generation. The power sector will spend $5 billion to $15 billion more on fossil fuels, the NRDC said, while claiming $45 billion less in IRA tax incentives, relative to the group’s January 2025 Snapshot case.
“By 2035, average household electricity rates are projected to increase by an additional 4.2% to 5.5% nationwide, relative to the January 2025 Snapshot case,” the NRDC’s report said.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 20:55
https://www.zerohedge.com/energy/trumps-energy-policy-could-cost-us-540-gw-renewables-says-nrdc

2026-08-28 00:30:00 UTC

Federal Court Dismisses Musk's X Lawsuit Against New York Law Forcing Platforms To Define Speech
Federal Court Dismisses Musk's X Lawsuit Against New York Law Forcing Platforms To Define Speech
A Trump-appointed judge just dismissed a lawsuit by Elon Musk’s X seeking to void a New York state law requiring social media companies to disclose how they define and monitor hate speech, extremism, harassment, foreign political interference and disinformation.
https://cms.zerohedge.com/s3/files/inline-images/former-twitter-manager-elon-musk.jpg?itok=uaGVdV8z
U.S. District Judge John Cronan in Manhattan rejected X’s argument that the Stop Hiding Hate Act violated the U.S. Constitution's First Amendment by exposing it to lawsuits and big fines unless it disclosed "highly sensitive and controversial speech" that the state found objectionable.
Additionally, Cronan dismissed the case with prejudice, prohibiting X from refiling an updated claim on the same issue.
New York Attorney General Letitia James formally filed for the case to be dismissed in November 2025, saying the law helped consumers understand what to expect from social media, without blocking platforms from ‌speaking out or exercising their own judgment when moderating content.
Most notably, X Corp. pointed to a separate lawsuit it brought against California’s Assembly Bill 587, which it argued was “identical in all material respects” to S895B.
The Ninth U.S. Circuit Court of Appeals, which oversees California, held that AB 587’s content-category reporting provisions compelled non-commercial speech about contested political topics, which triggered strict scrutiny of the law under the First Amendment.
However, Cronan wrote that “[t]he First Amendment poses no obstacle to New York’s law."
He added:
“Businesses might not always want to share every detail about the products or services they offer. But when the government requires those businesses to speak truthfully about their offerings, the First Amendment typically allows for that kind of disclosure requirement.”
Musk’s company also said it already dedicates resources to regulating “hateful conduct” and that this would not be recognized under New York’s categories of “hate speech,” “racism,” or “extremism.” It also listed its efforts to regulate what it calls “manipulated, or out-of-context media that may result in widespread confusion on public issues, impact public safety, or cause serious harm,” but that would not be recognized by the New York law.
Nevertheless, the law was struck down on First Amendment grounds.
In this case, Cronan dismissed the California case (X Corp vs Bonta) stating that the level of scrutiny applicable was “Zauderer scrutiny,” which is “more relaxed than ordinary intermediate or strict scrutiny.”
https://cms.zerohedge.com/s3/files/inline-images/image%20-%202026-08-27T143246.153.jpg?itok=Vx3GUw-p
Under thehttps://en.wikipedia.org/wiki/Zauderer_v._Office_of_Disciplinary_Counsel_of_Supreme_Court_of_Ohio, the government can usually force a business to state purely factual, uncontroversial information about what it sells, so long as the requirement is reasonably related to preventing consumer confusion and is not unduly burdensome.
Calorie counts, ingredient lists, and “you may still owe costs if you lose” in a lawyer ad are the classic examples.
Cronan put the Stop Hiding Hate reports in that box, analogized them to menu-labeling, and applied the relaxed standard.
He also held Section 230 does not preempt a reporting duty that attaches to incomplete or false filings rather than to the moderation decisions themselves.
The problem is the categories.
The law does not just say “publish your existing terms of service.”
It requires platforms to state whether and how they define “hate speech or racism,” “extremism or radicalization,” “disinformation or misinformation,” “harassment,” and “foreign political interference,” then report enforcement data sliced by those buckets.
However, those labels are not commercial product specs, they are contested political and legal concepts.
Platforms that refuse the state’s taxonomy, use different terms (“hateful conduct,” “violent speech,” “synthetic media”), or treat some of those categories as viewpoint-laden rather than objective, are being forced to translate their editorial judgments into the state’s vocabulary under threat of $15,000-a-day fines.
That is closer to compelled speech about contested public issues than to “this yogurt has 140 calories.”
A Trump-appointed SDNY judge reaching the opposite result from a Ninth Circuit panel is not a partisan surprise; it is a circuit split on a hard First Amendment question.
However, choosing to rule with prejudice” and no leave to amend is aggressive.
X’s theory is not frivolous; a sister circuit already accepted a version of it, as we detailed above.
Dismissing the case so that X cannot replead after discovery or after further appellate development in Bonta treats a close constitutional question as settled when it is not.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 20:30
https://www.zerohedge.com/technology/federal-court-dismisses-musks-x-lawsuit-against-new-york-law-forcing-platforms-define

2026-08-27 23:40:00 UTC

Your Tax Dollars At Work: Georgia Teacher Creates 'Fart Corner' In Classroom, Calls It The 'Gas Station'
Your Tax Dollars At Work: Georgia Teacher Creates 'Fart Corner' In Classroom, Calls It The 'Gas Station'
An Atlanta elementary school teacher has created a designated “fart corner” where students can pass gas without leaving class or interrupting lessons, according to https://www.nbcsandiego.com/news/national-international/gas-station-farts-classroom-georgia-teacher/4065196/.
Second grade teacher Candy Sydney Browning calls the area the “gas station,” while the specific spot is known as the “gusty winds area.” Students can quietly get up, walk to the corner, take care of business and return to their seats without asking permission.
Sydney Browning came up with the idea after noticing that bathroom trips and students reacting to classmates passing gas were taking time away from lessons. She had already started encouraging students to use the restroom before lessons so they would not need to leave as often. Passing gas, however, created another distraction. Students would point fingers, move away from one another and announce who they thought was responsible.
Rather than treating it as something embarrassing, Sydney Browning wanted students to understand that passing gas is simply a normal bodily function. “It’s normal,” she told them. “But you have to excuse yourself.” Creating a specific area gave students a discreet way to do that without stopping the lesson.
https://cms.zerohedge.com/s3/files/inline-images/Screenshot%202026-08-27%20at%2010.13.33%E2%80%AFAM.jpg?itok=lKX95aKJ
They do not need to raise their hands or ask for permission, which means Sydney Browning can continue teaching while the student briefly steps away.
NBC https://www.nbcsandiego.com/news/national-international/gas-station-farts-classroom-georgia-teacher/4065196/ that the idea soon became a normal part of classroom life. Sydney Browning said the first student to use the station attracted a few smiles and curious looks from classmates. However, no one pointed fingers or made fun of him, and eventually students stopped paying attention altogether.
“It just became a norm,” she told TODAY. She said the station has become so ordinary that she sometimes forgets it is even there.
After Browning shared the setup on TikTok, the unusual classroom rule received widespread attention. Thousands of viewers reacted to the idea, with some praising it as a clever way to normalize bodily functions while keeping students focused. Several teachers said they wanted to introduce similar areas in their own classrooms, while others shared that they already had their own versions of a designated fart area.
Not everyone was convinced. Some commenters worried that students who use the corner frequently could feel embarrassed or become targets for teasing. Others questioned whether children could really ignore a classmate walking across the room specifically to pass gas. Sydney Browning believes making the practice routine is exactly what prevents it from becoming a bigger issue. When adults and students stop treating it as something shocking or funny, it becomes less interesting.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 19:40
https://www.zerohedge.com/markets/your-tax-dollars-work-georgia-teacher-creates-fart-corner-classroom-calls-it-gas-station

2026-08-27 22:50:00 UTC

Moody's Downgrades Baltimore City's Credit Rating Amid Population Collapse
Moody's Downgrades Baltimore City's Credit Rating Amid Population Collapse
Moody's Ratings downgraded Democrat-led Baltimore City's bond rating this week, highlighting a rapidly deteriorating financial situation as declining reserves, depleted utility funds, and mounting borrowing costs strain the crime-ridden metro area best known for the hit HBO series The Wire.
https://foxbaltimore.com/news/local/moodys-downgrades-baltimores-credit-rating-citing-declining-reserves-brandon-scott reports that the ratings agency lowered Baltimore's rating from Aa2 to Aa3, citing "declining fund balance and cash levels across all government operations," with much of the deterioration concentrated in utility and internal-service funds.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-27_11-58-49.png?itok=10NE4aiz
Moody's explained that the city's finances have weakened since the COVID-19 pandemic, despite efforts and forecasts aimed at stabilizing reserves. The new Aa3 rating remains investment grade, but the downgrade suggests that the municipal bond market will demand a higher rate when lending to the city.
In a statement, the ratings agency said the downgrade "reflects the trend of declining fund balance and cash levels across all government operations, largely concentrated in the utility and internal service funds."
https://cms.zerohedge.com/sites/default/files/styles/inline_image_desktop/public/inline-images/image-1024x575.jpg?itok=-nhE6vbk
Economist Anirban Basu warned that the city's financial position is deteriorating and that this is "not great news."
"This is a city now with over $4 billion in outstanding bonds, outstanding debt in that form," said Basu. "And the decline in the bond rating from Aa2 to Aa3 simply means that when the city goes to float its next set of bonds, it's going to pay more interest or higher interest rates on those bonds, which makes financing infrastructure and other city expenditures more expensive."
Basu continued, "A lot of our fiscal concerns, including how much we want to spend on education, how much we need to spend on infrastructure, and the fact that other city funds have also been downgraded, including the water, sewer, and internal service funds, have been downgraded recently."
Related:
- https://www.zerohedge.com/personal-finance/downtown-baltimore-cre-crash-signals-deeper-fiscal-crisis-ahead
Fox Baltimore stopped short of addressing a much deeper structural problem: Baltimore has seen a massive exodus of residents, losing more than 70,000 residents, or about 11% of its population, over the past two decades.
https://cms.zerohedge.com/s3/files/inline-images/baltimore_0.png?itok=07eXPEYQ
That population collapse (https://www.zerohedge.com/political/chart-baltimore-democrats-hope-you-never-see) has eroded the city's tax base while leaving fewer residents to support its debt, infrastructure, and public-service obligations, making the city widely unaffordable for many of the productive residents, hence the population exodus.
Related:
- https://www.zerohedge.com/political/welcome-baltimore-chaos-gunfire-and-roaming-youth-mobs-transform-bar-district-warzone
Years of progressive policy experiments, elevated violent crime, and left-wing governance in City Hall have transformed the city into an epic fiscal mess and, by some standards, a failed city.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 18:50
https://www.zerohedge.com/political/moodys-downgrades-baltimore-citys-credit-rating-amid-population-collapse

2026-08-27 22:00:00 UTC

Newly Formed Lake Threatens 2nd Flood At Nepal-Tibet Disaster Zone
Newly Formed Lake Threatens 2nd Flood At Nepal-Tibet Disaster Zone
A rapidly expanding dammed lake above a Nepal-Tibet flood zone poses a severe new threat to Gyirong Port, where hundreds of people remain unaccounted for following an initial https://www.theepochtimes.com/world/at-least-160-dead-hundreds-missing-after-flood-devastates-nepal-tibet-border-6079993?utm_source=partner&utm_campaign=ZeroHedge.
https://cms.zerohedge.com/s3/files/inline-images/ca7d1ede-64b8-4e56-9951-a690ccb2821e_94ff233e_80.jpg?itok=fIVZd0ax
Formed by mudslides near the junction of two rivers, the blockage sits about 11 miles upstream of Rasuwagadhi and has created a https://myrepublica.nagariknetwork.com/amp/news/011-sq-km-lake-forms-upstream-of-rasuwagadhi-could-burst-anytime-71-37.html, according to Nepal's National Disaster Risk Reduction and Management Authority (NDRRMA). China's Ministry of Water Resources estimated on Aug. 27 that the lake currently holds roughly 2 million cubic meters (528 million gallons) of water. Fueled by incoming rain, it is expected to absorb another 3 million cubic meters (793 million gallons) over the next three days.
https://cms.zerohedge.com/s3/files/inline-images/IMG_3635-1787838330_80.jpg?itok=oY0EdE0v
The situation is increasingly precarious. The ministry warned that the lake is already overflowing and faces a high risk of a sudden release that could once again inundate Gyirong Port and communities downstream. Drone reconnaissance conducted by fire and rescue personnel - and reported by the state-run Xinhua News Agency on Aug. 27 - confirmed the danger, revealing that the lake's surface continues to expand with water levels visibly higher than the day before.
In response to the mounting threat, Nepalese authorities have urged all residents, travelers, and rescue personnel along the Bhote Koshi River corridor to completely avoid riverbanks and other high-risk zones.
This secondary crisis emerges as the toll from the first flood continues to rise.
🚨🚨🚨https://x.com/hashtag/China?src=hash&ref_src=twsrc%5Etfw alerts new barrier lake forms at https://x.com/hashtag/Nepal?src=hash&ref_src=twsrc%5Etfw rivers confluence, posing high breach risk over next 3 days.
A significant barrier lake has formed near the confluence of the Chhochen Khola and Purepu Tsangpo rivers in Nepal, with its water volume estimated at 2 million… https://t.co/XtMiX3YUvs
— Shen Shiwei 沈诗伟 (@shen_shiwei) https://x.com/shen_shiwei/status/2092994442848530487?ref_src=twsrc%5Etfw
An Aug. 27 update from the NDRRMA confirmed that 359 bodies have been recovered in Nepal, with another 910 individuals still out of contact. Meanwhile, across the border, the Gyirong disaster command reported three confirmed deaths and 558 people missing in Tibet - including 260 foreign nationals - as of 8 a.m. on Aug. 27.
As the Epoch Times https://www.theepochtimes.com/world/growing-dammed-lake-threatens-2nd-flood-at-nepal-tibet-disaster-zone-6080297?utm_source=partner&utm_campaign=ZeroHedge, the new lake is still rising...
The new lake formed in debris left by the disaster near the confluence of the Cuojian River and Purepuqiang Zangbo, upstream of Gyirong Port.
Nepal’deki sel felaketinin nasıl meydana geldiğini gösteren bir simülasyon:
Himalayalar’da bir buzul kütlesinin koparak vadiye düşmesiyle buz, kaya ve toprak nehir yatağına sürüklendi. Oluşan devasa su ve moloz dalgası, kısa sürede nehir yatağı boyunca ilerleyerek önüne çıkan… https://t.co/UtVuJvonR3
— Odak TV (@OdakTV1) https://x.com/OdakTV1/status/2092699579825131827?ref_src=twsrc%5Etfw
Chinese authorities on Aug. 27 found that the broader landslide area had not expanded, but the lake surface continued to grow.
Water was already passing over the natural barrier rather than remaining contained behind it. Authorities described the condition as overflowing, not a full breach.
Natural dams are formed suddenly from loose rock, soil, and other debris rather than engineered materials.
According to National Cheng Kung University resource-engineering professor Huang Jing-sheng, water penetrating such debris can increase internal water pressure and reduce the friction helping hold the blockage together.
Historical records compiled by Taiwan's Agriculture Ministry identify erosion from water flowing over the top as one common failure mechanism for natural dams.
The agency cautions that historical cases cannot predict how a particular lake will behave.
New Hazard Complicates Access
The dammed lake sits above an area already heavily damaged by the first flood.
The edge of the debris flow was located about 1.6 miles from Gyirong Port, with deposits approaching 5 feet thick in places, Xinhua reported.
An engineering team was using drones and 3D laser scanners to survey the blockage and measure its shape, surrounding rock, and water flow, according to Chinese rescue authorities, who said the upstream threat had to be addressed before crews could safely clear the large debris field closer to the port.
On the Nepal side, the new danger extends directly into the rescue corridor.
The NDRRMA and Nepal's hydrology authorities urged residents, travelers, and rescue personnel along the lower Bhotekoshi to remain away from riverbanks and other exposed areas.
That warning is tied to the newly formed lake, not the initial flood surge.
More Water Forecast
China's National Meteorological Center continued to forecast additional rainfall around Gyirong through Aug. 29.
Gyirong Port was expected to see light rain overnight on Aug. 27 and into Aug. 28, with moderate rain at times.
Rain was forecast to intensify on Aug. 29, with light to moderate rain and periods of moderate to heavy rain.
Along the corridor from Gyirong Port toward Nepal, the China Meteorological Administration's public weather service forecast moderate to heavy rain on Aug. 27, moderate rain on Aug. 28, and moderate to heavy rain again on Aug. 29, with possible thunderstorms, strong winds, and hail.
A Chinese Water Ministry hydrological assessment put inflow into the lake at about 15 cubic meters per second (4,000 gallons per second) and said the volume was still increasing.
Based on the rainfall forecast, the ministry estimated that the lake could receive another 3 million cubic meters (793 million gallons) of water over the next three days.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 18:00
https://www.zerohedge.com/weather/newly-formed-lake-threatens-2nd-flood-nepal-tibet-disaster-zone

2026-08-27 21:00:00 UTC

State AGs Target 'Big Four' Accounting Firms, Claim They're Pushing Climate Disclosures
State AGs Target 'Big Four' Accounting Firms, Claim They're Pushing Climate Disclosures
https://www.theepochtimes.com/business/state-ags-target-big-four-accounting-firms-claim-theyre-pushing-climate-disclosures-6079853?utm_source=partner&utm_campaign=ZeroHedge,
A coalition of 16 state attorneys general is investigating the "Big Four" accounting firms, alleging that they may have pushed climate accounting on client companies.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281096%29.jpg?itok=BwrXwSMp
"The Big Four's climate commitments force clients to make burdensome climate-related disclosures that drive up the costs of their services and place onerous requirements on farmers and small businesses," Nebraska Attorney General Mike Hilgers, who co-led the coalition, said in a statement.
"These costs will ultimately be passed onto consumers, who will be forced to bear the burden of increased prices for food, energy, and other everyday products."
These accounting firms - Deloitte, KPMG, Ernst & Young, and PriceWaterhouseCoopers - together provide an estimated 80 percent of all public company audits, according to Becker, an education organization for professionals.
The AGs' letter states that the accounting firms "appear to have violated their professional duty of independence by committing to push for climate-related disclosures in financial reporting, contrary to professional standards of materiality, neutrality, and error avoidance."
The letter also highlights the accounting firms' former membership in the U.N.-sponsored Net Zero Financial Service Providers Alliance (NZFSPA), in which members pledge to align their products and services with the Paris Climate Agreement's net-zero goals.
In addition, the AGs stated that climate-related disclosures could become a significant financial burden for smaller firms, and that "the highly speculative nature of climate-related disclosures" could expose all firms that produce such reports to "frivolous and costly litigation."
Consequently, the accounting firms could be exposed to charges of conflict of interest and be in violation of state laws against "deceptive acts and practices," the letter warned.
The NZFSPA, which formerly operated as part of a network of financial alliances under the Glasgow Financial Alliance for Net Zero (GFANZ), included ratings agencies, data and index providers, proxy advisors, auditors and stock exchanges.
In January, the NZFSPA announced that it was reorganizing, with member companies "now pursuing activities independently."
Other former members of GFANZ-sponsored net-zero alliances included JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, and Wells Fargo, BlackRock, Vanguard, State Street and some of the world's largest insurance companies.
Starting in 2024, however, these alliances began to shut down as https://www.theepochtimes.com/business/as-banks-quit-un-climate-alliance-critics-say-too-soon-to-declare-victory-5908731?utm_source=partner&utm_campaign=ZeroHedge amid charges of collusion and antitrust activity from conservative lawmakers, state treasurers, and attorneys general.
Since taking office in 2025, the Trump administration has also worked to repeal climate policies put in place under the Biden administration.
In March 2025, the Securities and Exchange Commission (SEC) announced it would not defend the Biden-era climate disclosure rules, which mandated that publicly traded companies audit and disclose their climate-related risks and greenhouse-gas emissions, and which plaintiffs had challenged as overreach.
In May of this year, the SEC formally rescinded the mandate altogether.
In addition, in January, President Donald Trump https://www.theepochtimes.com/us/trump-order-taking-us-out-of-un-climate-orgs-caps-flood-of-corporate-exits-5968897?utm_source=partner&utm_campaign=ZeroHedge the United States from more than 60 U.N. climate-affiliated organizations, declaring them "contrary to U.S. national interests, security, economic prosperity, or sovereignty."
Despite the efforts of the Trump administration, however, companies are still required to report greenhouse gas emissions due to mandates in Europe and California.
Since 2023, the https://www.theepochtimes.com/business/state-ags-say-europe-is-forcing-climate-social-justice-agenda-on-us-companies-5926064?utm_source=partner&utm_campaign=ZeroHedge has imposed such mandates on companies that do business or list there.
Accounting firm PriceWaterhouseCoopers estimates that about 50,000 companies worldwide will have to comply with the EU's Corporate Sustainability Reporting Directive.
Similarly, companies that do business in California and that have annual revenues of $1 billion or more must also report greenhouse gas emissions, according to the California Corporate Greenhouse Gas Reporting Program, passed in 2023.
The Epoch Times contacted the accounting firms Deloitte, KPMG, Ernst & Young, and PriceWaterhouseCoopers for comment but did not receive a reply as of publication time.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 17:00
https://www.zerohedge.com/political/state-ags-target-big-four-accounting-firms-claim-theyre-pushing-climate-disclosures

2026-08-27 20:40:00 UTC

Trump Close To 'Massive' Deal For Seizing Stake In Venezuela's Vast Oil Fields
Trump Close To 'Massive' Deal For Seizing Stake In Venezuela's Vast Oil Fields
Amid ongoing global oil supply disruptions due to the Iran war and Hormuz Strait crisis, and also as Ukraine's war on Russian oil refineries and export terminals heats up, the Trump administration has been scrambling to tap new reliable and long-term energy sources.
Now, nearly eight months since the US miliary raid on Caracas which removed from power and captured socialist President Nicolás Maduro, and the Trump administration is said to be on the brink of a massive deal to gain ownership stake in the countries vast oil resources.
Axios is newly reporting Thursday of 'negotiations' (sure) in the works: "The historic deal would more than double U.S. oil reserves by drawing from a country that has the world's largest proven reserves."
https://cms.zerohedge.com/s3/files/inline-images/cwright.jpg?itok=hY7r49Sl
The report cites one official as saying that "Calling this deal huge would be an understatement" as is is "massive."
The wars in Iran and Ukraine, and especially the race to reopen Hormuz to international crude transit, have added heightened urgency to the talks - and given the US Strategic Petroleum Reserve has reached a 40-year low.
Over a dozen productive oil fields are said be central to the "talks", with Trump officials hoping for a quick breakthrough after long hyping Trump's "Donroe Doctrine" and what it can do to bolster American energy independence and security. Of course, instead of 'talks' or 'negotiations'... in reality this is more simply about hammering out details on what orders will be dictated to the 'new' post-Maduro US client state in South America.
Axios details further of what's at stake in the deliberations with https://www.axios.com/2026/08/27/trump-venezuela-oil-deal-talks:
- The fields in question, which has 90 billion barrels of proven reserves, used to be controlled by former Venezuelan insiders — including some who've been indicted — as well as interests once controlled by China, the official said.
- In return for giving the U.S. an ownership stake, Venezuela's government would benefit from private companies, including American firms, developing the fields and returning more oil revenue to that country.
But this latter note remains the big question and risk, in terms of a potentially long timeline before the new potential Venezuelan oil flows make a noticeable difference.
Though sitting atop the world's biggest proven oil reserves, Venezuela has long been known for its derelict and largely defunct infrastructure for getting crude out of the ground and refining. There's also the question of security, which has been a source of discussion between the US admin and American oil companies being courted.
The oil majors must be convinced that they can operate in enough safety to be successful, not just for the coming months, but for years down the line. But if a broad and major 'deal' is struck with Caracas, these issues will probably look minor.
There are also lingering transparency and accountability questions concerning the Venezuelan oil exports that Washington already took over since Maduro's ouster. This summer, the Council on Foreign Relations asked https://www.cfr.org/articles/the-u-s-took-over-venezuelas-oil-industry-where-has-all-the-money-gone...
In the first four months of the United States exerting control over Venezuela’s oil exports, almost one hundred million barrels of oil worth an estimated $8 billion have flowed through a process marked by no transparency and minimal oversight. While the Trump administration has repeatedly framed this control as benefiting both countries, it has not publicly disclosed how much Venezuelan oil it has sold, how much revenue it has collected, or how it has used those funds since seizing control of the country’s oil exports following the January 3 military intervention that deposed Venezuelan leader Nicolás Maduro.
The CFR also wrote:
The Trump administration has shared some details with Congress. Secretary of State Marco Rubio https://www.youtube.com/watch?v=5RBbx6P4Lho in January that $300 million had flowed through a “short-term” account in Qatar and been disbursed to Venezuela, while another $200 million was “still sitting” in the account. He indicated the administration would conduct a retroactive audit on the funds that moved through the Qatar account. The following month, Secretary of Energy Chris Wright said during a https://www.youtube.com/watch?v=5zNmmbnPtYA that the full $500 million had been transferred to Venezuela and that the administration would use U.S. Treasury accounts going forward.
But the administration has yet to provide a public accounting of the Qatar account, including how the funds were spent or what safeguards were in place to prevent corruption and money laundering. In April, a State Department witness told Congress that the department had authorized the disbursement of about https://www.youtube.com/watch?v=-qvI1uxoTIQ&t=30s to Venezuela, but the witness did not know how much money remained in the U.S. Treasury accounts. It is not clear if the balance in either the Qatar or U.S. Treasury accounts has been shared with Congress.
The last public update was shared by President Trump to reporters in late July. He indicated the US has collected more than $13 billion from the sale of Venezuelan crude.
″$13 billion from Venezuela? I think even more than that,” the president previously https://www.youtube.com/watch?v=TsCWJJAK7EU, and boasted that "We’ve paid for that war many times over."
With both the Venezuelan oil export control scheme and this new plan for US companies to move in based on a grand deal, the White House is touting that this is all about securing America's energy future.
But as for the Venezuelan people's future...
🇻🇪 Washington Is Making Venezuela Pay for Its Own Occupation — 32% of Oil Revenue
The U.S. invasion has turned Venezuela’s oil industry into a revenue stream for Washington. Economist Francisco Rodríguez says the Trump administration has charged Venezuela $4.7 billion, or 32%… https://t.co/3jwxLHLWZe
— Drop Site (@DropSiteNews) https://x.com/DropSiteNews/status/2088401203805766103?ref_src=twsrc%5Etfw
"President Trump is close to securing America's energy future for generations to come, not just in the U.S. but in the hemisphere," an official said to Axios.
As a reminder Venezuela's interim president Delcy Rodríguez was previously Maduro's Vice President, and so the chavista socialism system is still actually in place, even if the new ruling regime is in reality now a puppet of Washington interests.
While President Trump initially declared that Washington would effectively "run" Venezuela, he later had openly endorsed Rodríguez as a temporary caretaker during the transition, despite her being as hardcore a Leftist pro-Maduro figure as anyone.
Among the first US actions with a compliant Rodríguez at the helm in Caracas was to cut off Venezuela's oil supply to nearby ally Cuba. So ultimately, an eventual grand deal for American companies to take over Venezuelan oil fields should come as no surprise to anyone paying attention to what Washington's real long-running regime changes aims in Venezuela were all about. In the meantime Western MSM outlets like Axios still pretend in their framing of these developments that the US is at the helm of some kind of "rules-based order".
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 16:40
https://www.zerohedge.com/energy/trump-close-massive-deal-seizing-stake-venezuelas-vast-oil-fields

2026-08-27 19:40:00 UTC

Alberta Premier Rejects Using Oil As A Weapon Against Trump
Alberta Premier Rejects Using Oil As A Weapon Against Trump
https://oilprice.com/Latest-Energy-News/World-News/Alberta-Premier-Rejects-Using-Oil-as-a-Weapon-Against-Trump.html,
Alberta's Premier Danielle Smith has rejected the idea of slapping export taxes on crude oil exports to the United States in retaliation for the Trump administration's tariff salvo against Ottawa, saying they would be damaging to Canada.
https://cms.zerohedge.com/s3/files/inline-images/images_80%2845%29.jpg?itok=hM-NQCAw
"Although I understand the need to respond strongly to these tariffs, I cannot think of a more disastrous policy decision than cutting off or taxing Alberta's oil to the United States," Smith said as https://cms.zerohedge.com/admin/news/3eb46242aad791aefa762d89a01f631aa5c09f1c73c3bae55df33bcaaa769c33caeea5adbc48 by Global News, adding that the move would trigger a disproportionate tariff response from the United States that could hurt the Canadian economy.
"It would not only extinguish the livelihoods of hundreds of thousands of Albertans, it would economically hobble our friends and neighbors in other provinces to the east," she said, warning of millions of jobs getting lost as a result of the tariff war.
Alberta exports about 4 million barrels of crude oil daily to the United States. Last year, the total value of these exports stood at about $80 billion. Trump has so far not threatened tariffs on crude oil coming from Canada but, according to Smith, this could change if Canada itself decides to use oil exports as a weapon in the tariff war.
As for the possibility of threatening the U.S. with a suspension of oil exports, Smith suggested this would be an even worse idea. "The United States would, of course, respond and cut off all gasoline and diesel from their refineries to Ontario and Quebec, right as we turn into fall and winter," she told media.
Smith also said the U.S. could replace Canadian crude with crude from Venezuela, as a result of which Alberta would in turn lose its biggest oil buyer. This may be theoretically true, but with Venezuela's oil production at barely above 1 million barrels daily and not all of that going to U.S. refineries, such a replacement is quite unlikely in the medium term.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 15:40
https://www.zerohedge.com/energy/alberta-premier-rejects-using-oil-weapon-against-trump

2026-08-27 19:20:00 UTC

Army's Project Janus Selects Five Reactor Companies For Rapid Development
Army's Project Janus Selects Five Reactor Companies For Rapid Development
The US Army's Project Janus, which we https://www.zerohedge.com/energy/army-announces-next-steps-janus-program-next-generation-nuclear-energy back in November, has https://www.army.mil/article/294891 of reactor developers to bring advanced nuclear energy to Army installations to ensure resilient and ready power.
BREAKING: The first fully operational commercial nuclear microreactor will be deployed at a U.S. Army installation in 2028.
To achieve this, the Army has awarded a combined $2.2 Billion to five competing commercial companies.
— Jeff Waksman (@Waksman84) https://x.com/Waksman84/status/2092705425787642073?ref_src=twsrc%5Etfw
The program is looking to move reactor developers through their first-of-a-kind and second-of-a-kind designs at breakneck speeds with the goal of “bending metal as quickly as possible”.
The following companies have been selected to participate under Project Janus:
- Antares Nuclear
- BWXT Advanced Technologies
- General Atomics Electromagnetic Systems
- Radiant Industries
- Westinghouse Government Services
The nuclear industry has suffered from decades of atrophy with little to no new nuclear construction to incentivize the manufacturing industry to invest in supply lines to support the build-out of a new national nuclear program. Project Janus looks to assist with revitalizing the commercial nuclear industry while also benefiting by harnessing the reliability of nuclear energy to enhance the abilities of the armed forces.
Principal Deputy Assistant Secretary of the Army for Installations, Energy, and Environment, Dr. Jeff Waksman, who is also a program lead for Project Janus, has remarked in recent interviews that reactor developers will be constructing and operating their reactors on various Army installations across the U.S. and will be compensated for the achievement of various milestones related to successful construction and operation of their reactor designs.
$2.2 billion has been set aside by the Army and the Department of War Innovation Unit for milestone-based awards. Project Janus is aiming for their first operational reactor by September 2028.
Dr. Waksman has also provided estimates in multiple interviews for the price expected to be paid by the Army for power purchase agreements, with prices as high as $0.20-$0.30 per kilowatt hour. This price will vary greatly depending on location and use case.
In addition to receiving milestone awards, reactor developers also have the opportunity to move through a faster regulatory pathway than the traditional NRC pathway, similar to how a lot of the developers have been moving through the DOE pathway under the Reactor Pilot Program.
This will enable companies to demonstrate the operation of their design to investors and potential commercial offtakers. There has also been discussion of the potential for offtake agreements from the military bases for the first and second-of-a-kind reactors that are built under the program.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 15:20
https://www.zerohedge.com/energy/armys-project-janus-selects-five-reactor-companies-rapid-development

2026-08-27 19:00:00 UTC

Trump Officially Renames Lake Ontario To "Lake America"
Trump Officially Renames Lake Ontario To "Lake America"
Now, on to important matters...
On Thursday, US President Donald J. Trump renamed Lake Ontario to Lake America, a move he's been teasing in recent days on Truth Social - including writing that America doesn't "expect to be doing much business with Ontario any longer" amid an ongoing trade spat with Canada.
https://cms.zerohedge.com/s3/files/inline-images/bb15d2e62db23c2f4c8afcd7db4d9966a079b624-1500x1000_80.jpg?itok=mINTbA_e
On Tuesday, Trump https://truthsocial.com/@realDonaldTrump/posts/117156524147615725 an image of the lake with 'Lake Ontario' crossed out and 'Lake America' above it - with an American flag on the Canadian side.
https://cms.zerohedge.com/s3/files/inline-images/bf5936e745203d09_80.jpg?itok=1hYidop1
"The United States is the greatest protector of the Great Lakes, including the body of water currently known as Lake Ontario," Trump wrote in the EO, adding "The Lake will continue to play a pivotal role in shaping America's future and the global economy. In recognition of this flourishing economic resource and its critical importance to our Nation's economy and its people, I am directing that the Lake officially be renamed as Lake America."
The order directs Interior Secretary Doug Burgum to update the Geographic Names Information System (GNIS) within 30 days, and requires all federal government references to the lake refer to it as "Lake America."
Approximately 47% of the lake lies within the US.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 15:00
https://www.zerohedge.com/political/trump-officially-renames-lake-ontario-lake-america

2026-08-27 18:20:00 UTC

Follow The Risk
Follow The Risk
https://www.schiffgold.com/commentaries/follow-the-risk,
Tracing the distribution of risk is an important method that is helpful for understanding the trade-offs of any government action. Almost every government action reduces risk for some group and repackages the risk and forces another group to bear it.https://www.schiffgold.com/guest-commentaries/how-tariffs-erode-consumer-choice-and-prosperity, but it is important to understand who the payer is and what the costs are before blindly signing off on state control. The most common form of risk relates to the concept of "concentrated benefits, dispersed costs." https://www.cato.org/policy-analysis/steeled-protectionism that are spread across the entire American tax base. The inverse of this problem is when small groups must make large sacrifices to reduce the overall risk of the total population. There are few situations where government risk management is worth it, and most of them are when the repackaged risk is paid fairly by those who receive the benefit. Growth in government risk management both incentivizes more risk and particularly damages those who avoid creating risk.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-27_09-26-13.jpg?itok=UwaRCrwj
"Concentrated benefits, dispersed costs" is a phrase that describes the incentives behind targeted government industry policy. https://www.schiffgold.com/commentaries/the-bread-circus-effect-the-danger-of-public-stadium-funding, they are able to present their story clearly and effectively to government actors. The taxpayers who will pay for the benefits transferred to the special interest groups are not able to easily coordinate and they have no compelling reason to, as https://researchonline.nd.edu.au/cgi/viewcontent.cgi?article=1488&context=theses
When industries like banking or agriculture face large risks and can convince the government that it is needed to protect them, the industries are able to turn their risk into a guaranteed cost for taxpayers. This makes businesses less responsible, increasing the risk, and putting them into conflict with the people who involuntarily bear their risk. This problem only continues to worsen over time as the government grows and more industries recognize the benefits of state protection. Particularly when industrial failures already damage the nation, forcing taxpayers to insure them even in times of stability only deepens the problem.
Another form of risk redistribution is when many individuals shift their risk to smaller groups. One obvious example of this is https://www.investopedia.com/terms/i/interestraterisk.asp at the expense of those with heavy positions in bonds and cash. Inflation simply turns the risks of those with higher demand for present consumption into a guaranteed cost for those with a preference for future consumption. Many regulations make producers responsible for any problems with their products, which reduces customer risk, but damages customers in the long run as producers on the margin often leave the market. Although some of these government actions might make a specific problem better in the short term, they are extremely dangerous, as they put the few at the mercy of the many. Although this occurs most saliently with financial and economic risk, https://www.schiffgold.com/commentaries/the-tragedy-of-the-commons-in-our-welfare-state.
An expanded welfare state may lead to the promotion of assisted suicide, and other violations of life, for those with a high risk of large medical costs. Risks are best borne by those who create them, as they have enough information to take on risk intelligently. While the voice of the majority can call for government-funded insurance in all areas of life, they cannot change the nature of risk.
The fundamental purpose of government is to https://www.schiffgold.com/commentaries/an-anthropological-case-for-limited-constitutional-government-part-one Most of the risks that the government manages against are far from existential, and even more of them would be solved by the market if given enough time and institutional stability. The government is most capable when it manages risks that are experienced by all and turns them into a financial burden shared by the same group. National security and the protection of property rights are two examples of risk prevention where something borne by every citizen is turned into a financial cost for the tax base. While not every citizen contributes equally to the prevention of these risks, every American benefits from them. Whenever a new risk concerns the public, https://cbsaustin.com/news/connect-to-congress/the-us-owes-40-trillion-fixing-it-means-choices-voters-dont-like-congress-budget-deficit-interest-payments-spending-cuts-taxes.
Evaluate to whom the proposed solution is shifting the risk. Is the benefit of risk prevention worth the guaranteed cost? Do those creating the risk contribute fairly, or will they merely be incentivized to create more risk?
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 14:20
https://www.zerohedge.com/precious-metals/follow-risk

2026-08-27 17:40:00 UTC

Qatar And Kuwait Restore 70% Of Pre-War Oil Exports Through Hormuz
Qatar And Kuwait Restore 70% Of Pre-War Oil Exports Through Hormuz
https://oilprice.com/Latest-Energy-News/World-News/Qatar-and-Kuwait-Restore-70-of-Pre-War-Oil-Exports-Through-Hormuz.html,
Qatar and Kuwait have managed to boost their crude oil exports from the Strait of Hormuz to 70% of pre-war levels as they followed the United Arab Emirates in shuttling oil through the chokepoint and using ship-to-ship transfers in the Gulf of Oman, anonymous traders told https://www.bloomberg.com/news/articles/2026-08-27/kuwait-and-qatar-add-to-growing-oil-flows-getting-through-hormuz?srnd=phx-industries-energy on Thursday.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-27_xq1lz3oxnl%281%29.jpg?itok=u-W0Z5Xx
Before the Middle East conflict, Qatar and Kuwait collectively exported about 2 million barrels per day (bpd) of crude oil via the Strait of Hormuz.
They don't have alternative routes as Saudi Arabia and the UAE do, and struggled to ship oil out of the Persian Gulf in the first couple of months of the conflict.
But around June, Kuwait and Qatar began shuttling crude out of Hormuz and offered it for transfers outside the chokepoint in the Gulf of Oman.
The increasing Kuwaiti and Qatari oil volumes add to the barrels that Saudi Arabia and the UAE have been sneaking through the Strait of Hormuz and on routes bypassing it since the start of the war.
The UAE has managed to boost its https://cms.zerohedge.com/Latest-Energy-News/World-News/How-the-UAE-Has-Kept-Its-Oil-Flowing-Through-Hormuz.html as early as June, as it has kept pushing crude through the Strait of Hormuz and beyond. It has been shuttling crude through the chokepoint to load it on larger vessels outside the Strait, maximizing the use of its onshore pipeline to ship crude from the west to the east of the country, bypassing Hormuz, and shipping tankers through the Strait in dark mode.
Saudi Arabia, for its part, has also started https://cms.zerohedge.com/Energy/Crude-Oil/Aramco-Finds-a-New-Way-to-Keep-Saudi-Crude-Flowing-to-China.html of Gulf crude outside Hormuz, and has been using the Red Sea and https://cms.zerohedge.com/Latest-Energy-News/World-News/Saudi-Oil-Exports-from-Mediterranean-Soar-with-Shuttles-North-to-Avoid-Houthis.html to bypass the Persian Gulf's chokepoint.
Thanks to the shuttle services and dark activity, total oil flows through the Strait of Hormuz have now risen to about 7-8 million bpd, up from about 4 million bpd in the middle of July, according to Bloomberg's trading sources.
The under-the-radar operations and the Gulf states' creative solutions to the threats in the Strait of Hormuz and the Red Sea have helped keep oil flowing, even if at much reduced rates compared to February levels.
The higher oil volumes exiting the Persian Gulf have kept benchmark crude oil futures in check despite the tightening global fuel markets.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 13:40
https://www.zerohedge.com/markets/qatar-and-kuwait-restore-70-pre-war-oil-exports-through-hormuz

2026-08-27 17:21:58 UTC

Average 7Y Auction Stops On Screws As Foreign Demand Drops
Average 7Y Auction Stops On Screws As Foreign Demand Drops
A stellar 2Y auction, a subpart 5Y, and it only makes sense that we end the week with a perfectly average sale of $44BN in 7Y bonds.
The last coupon auction of the week priced at a high yield of 4.512%, up from last month's tailing 4.473%, and on the screws with today's When Issued 4.512%. Remarkably, this is the 3rd 7Y auction to price on the screws in 2026 alone, suggesting this tenor may be the most relevant one for market accuracy ahead of the actual auction.
https://cms.zerohedge.com/s3/files/inline-images/7y%20on%20screws.jpg?itok=HsfIJbfd
The bid to cover rose to 2.505, up from 2.486 last month and the highest since May; it was also above the recent average of 2.491.
Internals took a small step back: Indirects were awarded 60.8%, down from 70.2% in July and below the six-auction average of 65.1%. And with Directs taking 27.0%, up from 16.9% last month, Dealers were left with 12.3%, the lowest since May if above the recent average of 11.8%.
https://cms.zerohedge.com/s3/files/inline-images/7Y%20August%202026.jpg?itok=t0nFOMow
Overall, this was a snoozer of an auction and maybe that's for the best one week after the Bessent Buyback Bluff sparked market chaos and turmoil across the entire yield curve. In short: things are mostly back to normal, even if yields on the long-end remain just shy of multi-year highs.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 13:21
https://www.zerohedge.com/markets/average-7y-auction-stops-screws-foreign-demand-drops

2026-08-27 17:20:00 UTC

Dollar General Jumps On "Traffic-Led Momentum" As $4 Gas Accelerates Consumer Trade-Down
Dollar General Jumps On "Traffic-Led Momentum" As $4 Gas Accelerates Consumer Trade-Down
Dollar General shares surged 6% in the cash session Thursday morning after stronger customer traffic fueled a second-quarter earnings beat and prompted the discount retailer to raise its full-year outlook.
Jefferies analyst Corey Tarlowe wrote in a first take on earnings that "traffic-led momentum drives another beat."
The discount retailer, with 21,000 stores nationwide, most of them located in low-income ZIP codes, reported second-quarter earnings of $2.48 per share, up from $1.86 a year earlier and well above the Bloomberg Consensus estimate of $2. Revenue increased 5.2% to $11.29 billion, while comparable sales rose 3.5%, exceeding the 2.63% expected by analysts tracked by Bloomberg.
https://cms.zerohedge.com/s3/files/inline-images/DG.jpg?itok=aHKClxBq
Operating profit in the quarter jumped 29% to $769.2 million, beating the $637 million estimate. Gross margin expanded to 32.6% from 31.3% one year ago and came in well above the 31.7% consensus forecast.
Tarlowe said the results reflected "broad-based category strength" and continued traffic momentum, with customer visits rising 2%.
Dollar General raised its 2027 comparable-sales growth forecast to a range of 2.5% to 2.9%, from a previous range of 2.2% to 2.7%. The retailer now expects earnings of $7.80 to $8 per share, up from $7.20 to $7.45 and also above estimates.
That strength may be a little deceiving and might not signal a healthy consumer. Dollar General's traffic-led growth suggests cash-strapped households continue to trade down.
Last week, Walmart https://www.zerohedge.com/markets/walmart-crashes-most-2022-after-huge-comp-store-sales-miss that sales were under pressure as lower-income consumers pulled back amid a national average gasoline price above the politically sensitive $ 4-per-gallon threshold and a rising-rate environment.
Wells Fargo analysts remained cautious about whether the discount retailer’s momentum could continue into 2027, even as they described the second-quarter results as encouraging.
Shares are up 6% on the session, breaking above a summer high.
https://cms.zerohedge.com/s3/files/inline-images/Snag_3fea51a9.png?itok=jkjNnRap
Meanwhile, Treasury Secretary Scott Bessent told CNBC's Squawk Box earlier this month, "I got sick of hearing about this K-shaped economy. I can say here definitively, the K-shaped economy is over."
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 13:20
https://www.zerohedge.com/markets/dollar-general-jumps-traffic-led-momentum-4-gas-accelerates-consumer-trade-down

2026-08-27 17:00:00 UTC

California Senate Passes Bill To Fine Influencers Over Undisclosed Paid Political Posts
California Senate Passes Bill To Fine Influencers Over Undisclosed Paid Political Posts
https://www.theepochtimes.com/us/california-senate-passes-bill-to-fine-influencers-over-undisclosed-paid-political-posts-6079470?utm_source=partner&utm_campaign=ZeroHedge,
The California Senate passed a bill on Aug. 24 to fine content creators who make paid political content without disclosing the compensation.
The legislation, authored by Democratic Assemblymember Marc Berman, will still need a vote in the state Assembly before it reaches Gov. Gavin Newsom's desk.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281089%29.jpg?itok=_6-kanZi
The governor will have until the end of September to either sign or veto the bill.
"Voters should have a right to know whether or not campaigns are paying for the messaging that they're seeing," Berman said last month.
Both Texas and California require content creators to include disclaimers on political posts. The new legislation is an effort to enforce the law.
Currently, the state's campaign watchdog can request that a court compel an influencer to disclose the monetary connection, but it could take months for the process to reach fruition.
However, Berman's bill would give California's Fair Political Practices Commission the power to fine both influencers and political committees if they violate the law, bypassing the court's involvement.
Creators can face fines of up to $5,000 per violation.
Southern California content creator Dustin Torreverde, who has not been paid for political content, said he believes it is important for influencers to disclose this kind of payment, but is concerned the bill could cause an unfair burden for people in his field.
"A lot of us are very small creators," he said. "So if we were to get penalized and we have to get lawyers, stuff like that, it's going to be very difficult for us."
California's Senate action comes about a month after Sen. Adam Schiff (D-Calif.) introduced federal legislation to require disclosure of the political affiliation of influencers. That bill has not yet been brought up for a vote.
The Promoting Authenticity with Influencer Disclaimer (PAID) Act would give the Federal Election Commission the authority it has pursued for years.
The act would amend the Federal Election Campaign Act to require anyone paid by a political committee or candidate to add a clear disclaimer that they were paid to post the content.
"As more and more information in American life is shared through informal communicators like influencers, we need to recognize the risks of proliferating paid political speech without the guardrails that apply to all other forms of political advertising," Schiff said in a statement.
"An influencer can reach far more than a billboard or even a broadcast ad in 2026, but people deserve the same understanding of who is behind that post and if they are paid for it. The PAID Act is a bicameral solution to apply the same bipartisan standards we've applied to other advertising to this new class of political speech."
Rep. Mark Takano (D-Calif) authored the House companion legislation.
"Our social media feeds must be fixed," he said in a statement.
"Users deserve to know if a creator has been compensated by a campaign to post for them. Senator Schiff and I introduced the PAID Act because current campaign disclosure laws have not kept up with this new creator economy, and voters deserve to know who is financing their feeds before they vote."
The Associated Press contributed to this report.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 13:00
https://www.zerohedge.com/political/california-senate-passes-bill-fine-influencers-over-undisclosed-paid-political-posts

2026-08-27 16:40:00 UTC

Zinc Hits Four-Year High As "Extremely Thin" Physical Supply Fuels Squeeze
Zinc Hits Four-Year High As "Extremely Thin" Physical Supply Fuels Squeeze
Zinc futures in London are headed for their largest monthly close since January, with prices hitting four-year highs this week amid tightening physical supplies.
London futures for the industrial metal initially gained as much as 1% before reversing course. Zinc fell .8% to $3,861 a ton as of 11:40 a.m. local time, halting a seven-day rally.
Despite the pullback, zinc's physical market remains extremely tight.
"Supply constraints boosting zinc: Zinc price has risen 31% since March to $3,966, driven by declining mine output, operational disruptions (fires, delays, and lower grades), and limited project development outside China," Jefferies analyst Sagar Sahu wrote in a note on Tuesday.
https://cms.zerohedge.com/s3/files/inline-images/Snag_3f3c22c7.png?itok=sQkOssST
Sahu added, "ILZSG, international association for zinc & lead, has revised its 2026 global zinc market forecast to a 19kt deficit vs a 271kt surplus earlier. We raise our FY27-28E zinc price assumptions to $3,615-3,700, still 7-9% below spot prices."
Guangzhou Futures analysts separately noted, "Available physical liquidity is at extremely thin levels" on the LME, adding, "Before mine output recovers materially, smelting costs will provide a strong floor for zinc prices."
Zinc's cash-to-three-month spread widened into backwardation of more than $190 per ton on Thursday, after approaching $200 per ton on Wednesday, the steepest since December.
According to Fastmarkets, treatment charges, the fees miners pay smelters to process ore into zinc metal, have fallen as low as minus $110 a ton. This comes as ore shortages force smelters to compete for concentrate. Persistent negative fees could pressure smelter margins, trigger production cuts and deepen the supply squeeze.
Similarly, copper futures in London are https://www.zerohedge.com/commodities/copper-tops-14000-us-stockpiling-drains-global-supply-ahead-trumps-tariff-call, including widening short-term spreads, low inventories, and negative treatment charges. Potential US import tariffs have been among the main drivers, forcing traders to redirect shipments toward the US and reducing availability elsewhere.
Last week, veteran commodities strategist Jeff Currie warned in a series of X posts:
Wake up, folks. Commodities are telling you something, and yesterday the Treasury confirmed it.
Scarcity in the physical world. Repression in the financial one. Scarcity pushes prices up. Repression holds yields down. The gap between them is the debasement.
Commodities are the only asset class that wins on both sides. The structural case for commodities has been turbocharged.
Read more about what Currie had to say about commodities https://www.zerohedge.com/commodities/get-long-and-buckle-jeff-currie-says-commodity-bull-market-entering-next-leg.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 12:40
https://www.zerohedge.com/commodities/zinc-hits-four-year-high-extremely-thin-physical-supply-fuels-squeeze

2026-08-27 15:40:00 UTC

RFK Jr. Says Pennsylvania Officials May Have Fabricated Measles Deaths
RFK Jr. Says Pennsylvania Officials May Have Fabricated Measles Deaths
https://www.theepochtimes.com/us/rfk-jr-says-pennsylvania-officials-may-have-fabricated-measles-deaths-6080177?utm_source=partner&utm_campaign=ZeroHedge,
Health Secretary Robert F. Kennedy Jr. said on Wednesday that officials in Pennsylvania may have made up deaths that they described as associated with measles.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281097%29.jpg?itok=E1Mk55c5
The Pennsylvania Department of Health and Pennsylvania Gov. Josh Shapiro https://www.theepochtimes.com/us/2-dead-from-measles-in-us-pennsylvania-officials-say-6079267?utm_source=partner&utm_campaign=ZeroHedge on Wednesday that Pennsylvania had recorded the first deaths related to measles in 35 years.
"The announcement appears to have been premature, and the deaths may even have been altogether fabricated by one of the Governor's hopeful staffers," Kennedy wrote in a post on X. "The Lancaster County Coroner says that it has no record of any measles deaths. State law requires that all measles deaths be reported to the coroner."
Lancaster County Coroner Steve Diamantoni told news outlets and a county commissioner that his office had not handled any deaths from measles. The office did see an infant who died shortly after birth from spleen laceration, and an autopsy determined that the primary cause of death was the laceration, Diamantoni told the Philadelphia Inquirer.
The pathologist who conducted the autopsy did not feel the death was related to measles, the coroner said. The office, which declined to comment to The Epoch Times, is still investigating the cause of the ruptured spleen.
Kennedy also told reporters in an unrelated press conference in Florida that Pennsylvania officials had not provided information about the deaths to the Centers for Disease Control and Prevention.
"We're trying to figure out ... who those deaths were and whether they actually happened," he said.
Both individuals who died tested positive for measles prior to their deaths and were not vaccinated, according to the Pennsylvania Department of Health. One was an infant, the agency said, pointing to Diamantoni's comments.
The agency said it uses the term "measles-associated" for deaths "when laboratory or epidemiologic evidence of measles is present, but the disease may not be assessed by the medical certifier or coroner to be the immediate cause of death."
Dr. Debra Bogen, Pennsylvania's health secretary, said, "As a pediatrician with more than 30 years of caring for children, I have thoroughly reviewed the case investigation information and sadly can confirm that there were two recent measles-associated deaths in Lancaster County, which were reported to the CDC's measles response team early Tuesday morning."
Pennsylvania officials have not disclosed any additional details about the second death beyond the person testing positive for measles and being unvaccinated. Bogen and her department did say that not all deaths are referred to a coroner under Pennsylvania law.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281098%29.jpg?itok=WSEiKxUT
State law says that any deaths "known or suspected to be due to contagious disease and constituting a public hazard" shall be investigated by a coroner.
State officials also encouraged people to take the measles, mumps, rubella (MMR) vaccine after announcing the deaths.
"This illness and death from measles is completely preventable," Shapiro told a briefing in Lancaster on Wednesday.
The minimum age for the MMR vaccine is one year, according to the CDC, although officials in Pennsylvania and some other states allow vaccination as early as six months of age for babies in measles-outbreak areas.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281099%29.jpg?itok=m-ui8SmS
The deaths were the first associated with measles reported in the United States this year. Three were reported in 2025. Local doctors said those deaths were due to measles, but Kennedy has said the people were already sick, including a girl who was already suffering from mononucleosis.
Lancaster County Commissioner Josh Parsons, a Republican who first highlighted comments from the county coroner, said in a post on X that the information about the infant's death showed it was with, not from, measles. He also said that state officials should release information on the other death that was described as associated with measles.
"The people of Lancaster County deserve to have transparency over whether there were actually two measles deaths or not," Parsons said.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 11:40
https://www.zerohedge.com/medical/rfk-jr-says-pennsylvania-officials-may-have-fabricated-measles-deaths

2026-08-27 15:00:00 UTC

Stalemate, Not Checkmate
Stalemate, Not Checkmate
Bas van Geffen, senior macro strategist at Rabobank
Stalemate, not checkmate
CIA Chief Ratcliffe’s 15-minute dialogue in Moscow was reportedly an elevator pitch https://285245b17c6fef11a66d000d3a4b6c6a.104.eu.prod.marketingusercontent.com/api/orgs/285245b1-7c6f-ef11-a66d-000d3a4b6c6a/r/S9qQqboFxEWl44qVUXoBAAEAAAA?msdynmkt_target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.politico.com%252Fnews%252F2026%252F08%252F26%252Fcia-russia-nato-moscow-ratcliffe-01051848%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%2C%222%22%3A%7B%22utm_medium%22%3A%22email%22%2C%22utm_term%22%3A%22N%2FA%22%2C%22utm_source%22%3A%22dynamics-rr%22%2C%22utm_content%22%3A%22RGD20260827%22%2C%22utm_campaign%22%3A%22SN%3A%20RGD20260827%20225f75%22%7D%7D%7D&msdynmkt_digest=RYAmqaMcoE%2Bny%2FCNf42c4lTdFVO1A3VcZyoLidOTWlA%3D&msdynmkt_secretVersion=7bb221762d0c46939816d3a5592b1359 not to support Iran, and not to attack NATO.
https://cms.zerohedge.com/s3/files/inline-images/cia%20in%20russia.jpg?itok=qU1eIe-a
Peace talks between Russia and Ukraine are at a dead end, and Ukrainian attacks on Russian economic infrastructure – including refineries and large online retailers – are increasingly putting pressure on President Putin. So, Moscow is preparing to escalate its assaults on the country. Russian military presence in Belarus is building up, which could reopen a front towards Kyiv.
Moreover, Putin considers Ukrainian attacks as NATO strikes because the weapons were supplied by the alliance. If Putin were to attack any of the Baltic states, NATO either triggers article 5 and attacks Russia, or it doesn’t. Who knows where either option leads. Escalation would spread the US’ resources thin, after reports that its defence industry is already struggling to replenish the missiles fired in the Iran war. But not doing so would effectively undermine NATO, and Europe’s security architecture.
That’s all still a hypothetical that markets can ignore for now, but the Ukrainian strikes are adding pressure to the energy complex. Ukraine forced another outage at the second-largest Russian gasoline producer, and Moscow will extend the diesel export ban through September according to Reuters’ sources. These supply shocks add to the disruptions from the Iran war.
So, several central banks are now flagging tighter policy to stop the energy shock from transforming into broader-based price pressures. Yesterday, Schnabel said that the ECB must raise rates further to prevent second-round effects early on.
The Bank of Japan’s Himino argues for a similar pro-active approach as inflationary pressures are picking up, to avoid that policymakers need to hike more aggressively later. And yesterday’s high Australian inflation print is adding to speculation that the also RBA may need to raise rates again soon – we still have a https://285245b17c6fef11a66d000d3a4b6c6a.104.eu.prod.marketingusercontent.com/api/orgs/285245b1-7c6f-ef11-a66d-000d3a4b6c6a/r/S9qQqboFxEWl44qVUXoBAAIAAAA?msdynmkt_target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fmedia.rabobank.com%252Fasset%252Fe224431c-cb86-427e-a0a9-cd900bc26b6e%252Fmountains_to_climb_the_road_ahead_for_the_rba_cash_rate.pdf%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%2C%222%22%3A%7B%22utm_medium%22%3A%22email%22%2C%22utm_term%22%3A%22N%2FA%22%2C%22utm_source%22%3A%22dynamics-rr%22%2C%22utm_content%22%3A%22RGD20260827%22%2C%22utm_campaign%22%3A%22SN%3A%20RGD20260827%20225f75%22%7D%7D%7D&msdynmkt_digest=z8Kn3qaZiDwzadeiOWt%2FijQQq0AZgQHuhZUZX5WY1xA%3D&msdynmkt_secretVersion=7bb221762d0c46939816d3a5592b1359, but the inflation print could accelerate policymakers’ timeline if it is confirmed by other incoming data.
As we’ve flagged before, time is not on central bankers’ side. The longer the Iran war lasts and the longer disruptions in energy markets persist, the stronger the inflationary impact will be.
The Qatari prime minister will travel to Tehran today to try to revive the dialogue between the US and Iran. However, the US’ change of pace to low-scale military conflict and economic warfare reduces the odds of a quick resolution. The Justice Department is preparing to revive https://285245b17c6fef11a66d000d3a4b6c6a.104.eu.prod.marketingusercontent.com/api/orgs/285245b1-7c6f-ef11-a66d-000d3a4b6c6a/r/S9qQqboFxEWl44qVUXoBAAMAAAA?msdynmkt_target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.bloomberg.com%252Fnews%252Farticles%252F2026-08-26%252Fus-aims-to-revive-civil-war-era-court-to-claim-iran-oil-as-prize%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%2C%222%22%3A%7B%22utm_medium%22%3A%22email%22%2C%22utm_term%22%3A%22N%2FA%22%2C%22utm_source%22%3A%22dynamics-rr%22%2C%22utm_content%22%3A%22RGD20260827%22%2C%22utm_campaign%22%3A%22SN%3A%20RGD20260827%20225f75%22%7D%7D%7D&msdynmkt_digest=CaGYXkMR2YklUosjlv%2B1bMpasQFTfdZBYT6yvcxRHcw%3D&msdynmkt_secretVersion=7bb221762d0c46939816d3a5592b1359, to improve the efficacy of the US naval blockade.
https://285245b17c6fef11a66d000d3a4b6c6a.104.eu.prod.marketingusercontent.com/api/orgs/285245b1-7c6f-ef11-a66d-000d3a4b6c6a/r/S9qQqboFxEWl44qVUXoBAAQAAAA?msdynmkt_target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fwww.wsj.com%252Fworld%252Fmiddle-east%252Flabor-protests-and-panic-buying-signal-growing-pressure-in-iran-3f039fab%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%2C%222%22%3A%7B%22utm_medium%22%3A%22email%22%2C%22utm_term%22%3A%22N%2FA%22%2C%22utm_source%22%3A%22dynamics-rr%22%2C%22utm_content%22%3A%22RGD20260827%22%2C%22utm_campaign%22%3A%22SN%3A%20RGD20260827%20225f75%22%7D%7D%7D&msdynmkt_digest=4LrWVIOUFKMt8enJ6U4MxLXlxrFBSrQOLQwsnv46ii8%3D&msdynmkt_secretVersion=7bb221762d0c46939816d3a5592b1359 of food and fuel indicates that the war is starting to take a real toll on the Iranian population. Yet, the US may not succeed in isolating Iran economically without the support of other economic superpowers – including China. China’s ongoing trade relationship with Iran may be just enough for the country to hang on. So, a Ukraine-Russia style stalemate looks increasingly more likely than a checkmate.
This also means that oil markets continue to rely on inventories to fix a flow problem. Our energy strategists have https://285245b17c6fef11a66d000d3a4b6c6a.104.eu.prod.marketingusercontent.com/api/orgs/285245b1-7c6f-ef11-a66d-000d3a4b6c6a/r/S9qQqboFxEWl44qVUXoBAAUAAAA?msdynmkt_target=%7B%22TargetUrl%22%3A%22https%253A%252F%252Fmedia.rabobank.com%252Fasset%252Fbdcfbbd5-0f2c-4785-8b41-66e88ded58fa%252Frunning_on_fumes.pdf%22%2C%22RedirectOptions%22%3A%7B%225%22%3Anull%2C%221%22%3Anull%2C%222%22%3A%7B%22utm_medium%22%3A%22email%22%2C%22utm_term%22%3A%22N%2FA%22%2C%22utm_source%22%3A%22dynamics-rr%22%2C%22utm_content%22%3A%22RGD20260827%22%2C%22utm_campaign%22%3A%22SN%3A%20RGD20260827%20225f75%22%7D%7D%7D&msdynmkt_digest=kHcwx8Mtjcvc4wfTHeOcZCe%2F%2BZaxyDy8s0rj07apB9Q%3D&msdynmkt_secretVersion=7bb221762d0c46939816d3a5592b1359 and WTI crude. But they believe that this will particularly be a problem in refined products, where refinery throughput is a key constraint.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 11:00
https://www.zerohedge.com/geopolitical/stalemate-not-checkmate

2026-08-27 13:45:00 UTC

Trump Considers New Tariffs On Semiconductors - Reports Raise Alarm Could Doom US Dominance
Trump Considers New Tariffs On Semiconductors - Reports Raise Alarm Could Doom US Dominance
Politico reports Thursday on what could be another significant setback for US data centers and major damper on American AI aspirations.
The White House is mulling the possibility of introducing new tariffs on semiconductors and a broader range of technology products, including laptops, servers for data centers and gaming equipment - a move tech companies have long been warning against, and which may demonstrate once again that the only thing getting 'reshored' is massive inflation for end consumers.
https://cms.zerohedge.com/s3/files/inline-images/datacntreq.jpg?itok=NuIRVtJu
The https://www.politico.com/news/2026/08/27/data-centers-chips-tariffs-threat-01050957 notes that "Commerce Secretary Howard Lutnick favors a structure that would tie foreign companies’ relief from the tariffs to investment in US chip manufacturing to juice more domestic production, said four of the people."
"The administration is also mulling a phase-in period for the new tariffs, the four people said," the report continues. "The people stressed that the framework could still be substantially revised in the coming weeks or months."
Jonathan McHale, digital policy chief at the Computer and Communications Industry Association, is quoted in the report as saying. "This data center buildout, in scale and dollars, has been compared to building the transcontinental railroad.”
"Anytime you add to the cost and decrease predictability you make it more difficult to invest, and you are putting that in jeopardy," he pointed out.
As a reminder under Biden Washington first laid the groundwork with a significant escalation of semiconductor trade barriers. Trump then https://www.zerohedge.com/markets/trump-impose-100-chip-tariffs-will-exempt-us-investors-apple on the campaign trail, floating a shock 100% levies on imported chips while promising a full pass for anyone willing to build their manufacturing on American soil. Then in January the White House slapped a 25% tariff on high-end AI semiconductors.
US sanctions on advanced chipmaking equipment and high-end semiconductors have been aimed at slowing China's push into cutting-edge chip production.
But as CNBC also points out, Chinese tech firms have reportedly had little trouble bypassing "strict" export bans to get their hands on Nvidia hardware.
"Industry watchers say access to advanced compute via overseas cloud providers is a key factor in Chinese AI models gaining capability," CNBC https://www.cnbc.com/2026/08/27/trump-semiconductor-tech-tariffs.html Thursday. "US legislation is being discussed to plug this loophole, but hurdles remain before it can have an impact," it adds.
🇨🇳🇹🇼 China appears to be testing another way of pressuring Taiwan—weaponising its dominance of critical supply chains.
Taiwanese manufacturers are reportedly experiencing delays obtaining strategically important germanium- and quartz-based materials from China, with shipments… https://t.co/KY1y9pQQmX
— China Update (@tonychinaupdate) https://x.com/tonychinaupdate/status/2091838505450393793?ref_src=twsrc%5Etfw
A fresh White House statement says, "Reshoring semiconductor manufacturing is a top priority for President Trump, whose policies have already secured hundreds of billions of dollars of investments in this key sector," according to admin spokesperson Kush Desai.
"The Trump administration remains focused on delivering more investments and economic relief for the American people while safeguarding our national security," the official adds.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 09:45
https://www.zerohedge.com/technology/trump-considers-new-tariffs-semiconductors-reports-raise-alarm-could-doom-us-dominance

2026-08-27 13:05:00 UTC

US Tungsten Scrap Export Ban Takes Effect As Global Supply Crisis Deepens
US Tungsten Scrap Export Ban Takes Effect As Global Supply Crisis Deepens
The Trump administration's export halt on tungsten scrap and shredded battery material took effect Thursday as the latest effort to retain critical supplies within the US. The measure comes as the US confronts a tungsten-supply crisis marked by limited to nonexistent domestic mine production and years of alarming dependence on China-dominated supply chains, even as Beijing increasingly uses critical-mineral exports as geopolitical leverage and curtails shipments abroad.
The Commerce Department directive prohibits exports of tungsten scrap and so-called black mass, the shredded remains of lithium-ion batteries that can be processed to recover lithium, nickel, cobalt and other valuable materials. The restrictions take effect today and will remain in place for one year.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-27_08-19-13.png?itok=NeRagrHV
The action follows President Trump's executive order authorizing federal agencies to restrict overseas shipments of scrap containing recoverable critical minerals. Waivers will be considered only when companies can demonstrate "undue hardship" or "irreparable harm."
As of 2025, the US had no mined tungsten production, while China produced 67,000 tons, nearly 79% of global output. Trade data from 2024 show that the US relied on imports for roughly half of its tungsten consumption.
In February 2025, China imposed export controls on selected tungsten products. Rotterdam prices have subsequently jumped nearly 800% since China limited exports of the industrial metal. This has only driven up tungsten and scrap prices.
https://cms.zerohedge.com/s3/files/inline-images/Snag_3f61abe9.png?itok=pvva47en
Wall Street has generally viewed tungsten's role in the industrial economy primarily through a defense lens, such as armor-piercing ammunition, missile components, penetrators, fragmentation materials, and counterweights. But as Lewis Black, CEO of Almonty Industries, https://www.zerohedge.com/commodities/ai-boom-runs-tungsten-global-supplies-are-running-empty, the critical material has many uses beyond defense, including aerospace, energy, medical, automotive and consumer products. It is also, in fact, a critical building block of the artificial-intelligence boom and its associated data-center buildout.
Black, whose mining company controls the largest high-grade tungsten reserves outside China, wrote in a corporate update: "While everyone watches the defense story, you need to keep an eye on semiconductors too. There's a gas called tungsten hexafluoride: WF₆. It's what lays down the microscopic tungsten wiring inside advanced memory chips, the kind the entire AI boom is built on. No WF₆, no advanced chips."
Related:
- https://www.zerohedge.com/commodities/ai-boom-runs-tungsten-global-supplies-are-running-empty
Wall Street has largely framed the tungsten shortage as a defense story. But what Black stresses is that this view is far from the complete view. With the entire US economic boom predicated on data center buildouts and chip stacks, the obscure tungsten-based process gas that sits deep inside the manufacturing chain for advanced logic, high-bandwidth memory, DRAM, and 3D NAND chips may become one of the biggest risks capable of derailing the buildout if China continues to throttle exports of the critical material.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 09:05
https://www.zerohedge.com/commodities/us-tungsten-scrap-export-ban-begins

2026-08-27 12:45:00 UTC

Imagine A 'Whites Only' Hike Through The Countryside...
Imagine A 'Whites Only' Hike Through The Countryside...
https://modernity.news/2026/08/26/imagine-a-whites-only-hike-through-the-countryside/,
Picture a "whites only" ramble through the Peak District. The press would treat it as a national emergency. Now take look at what is already happening there, with official blessing.
https://cms.zerohedge.com/s3/files/inline-images/muslimsmod.jpg?itok=EV-jPl8x
The National Trust has spent years partnering with Muslim Hikers for Ramadan walks and overnight retreats at Ilam Park. The charity's own channel promotes Enjoy the beautiful Peak District on a Ramadan walk with the Muslim Hikers.
The weekend features a guided hike, congregational prayers, iftar, night prayers and suhoor, with YHA Ilam Hall booked exclusively for the group on National Trust land.
The National Trust has an entire program dedicated to muslim-only 'Ramadan walks' in the Peak District. https://t.co/w7uji2g6GD
— Suffragent (@Suffragent_) https://x.com/Suffragent_/status/2092503560105639967?ref_src=twsrc%5Etfw
That is sold as inclusion. Reverse the identity and it becomes a hate incident.
Muslim Hikers founder Haroon Mota states "It's about showing our communities that these places are for us too."
Other groups drop even that pretence. Peaks of Colour calls itself "a Peak District-based walking club by and for people of colour only." Founder Evie Muir says the point is to "reclaim space in the outdoors."
Allow us to re-introduce ourselves! We're https://x.com/PeaksOfColour?ref_src=twsrc%5Etfw, a Peak District-based walking-for-healing club, by and for POC only! Our monthly hikes and regular walk-shops explore both the outdoors, and alternative routes to healing and justice ? give us a follow! ????
— Peaks of Colour (@PeaksOfColour) https://x.com/PeaksOfColour/status/1537810108331266049?ref_src=twsrc%5Etfw
Allies can donate, but they cannot join the walk.
And to join a Peak District walking club by and for people of colour only (that centres healing, community, joy and nature connectedness over fitness) join Peaks of Colour here: https://t.co/bAYZy2xBhW
— Evie Muir (@xeviemuir) https://x.com/xeviemuir/status/1518572047466700800?ref_src=twsrc%5Etfw
Another group called Wanderers of Colour ran a Peak District climbing festival this August billed as "Europe's only climbing festival by and for Black and people of colour."
Collaboration, Connection, Conversations!
An amazing day with @wanderersofcolour during their climbing festival last Saturday. Thanks to https://x.com/alpkit?ref_src=twsrc%5Etfw Hathersage, welcome& refreshments. We finished with https://x.com/HopeValleyDairy?ref_src=twsrc%5Etfw ?https://x.com/peakdistrict?ref_src=twsrc%5Etfw https://x.com/pdnp_foundation?ref_src=twsrc%5Etfwhttps://x.com/hashtag/getoutside?src=hash&ref_src=twsrc%5Etfw https://x.com/OrdnanceSurvey?ref_src=twsrc%5Etfw https://t.co/AlTlssMmrf
— Peak District Mosaic (@PDistrictMosaic) https://x.com/PDistrictMosaic/status/1812064025301209379?ref_src=twsrc%5Etfw
A whites-only weekend on the same gritstone would not get a listings write-up. It would get a police inquiry.
Then there is this development:
Halal Fish & Chips in the Peak District?
Almost every national park we have is now catering for Muslims and serving halal food.
Do the locals get a choice in this?
How much more? https://t.co/XCm9ZL7fD1 https://t.co/XoJnEQxJ1j
— Kiera Diss (@KieraDiss) https://x.com/KieraDiss/status/2092618267646959673?ref_src=twsrc%5Etfw
The Lake District has gone full halal ?? https://t.co/OCodOjblUA https://t.co/0lDvHyS7F3
— Kiera Diss (@KieraDiss) https://x.com/KieraDiss/status/2092615172212805648?ref_src=twsrc%5Etfw
A 2022 DEFRA report complained that rural facilities served "white English culture," including "traditional pubs, which have limited food options and cater to people who have a drinking culture."
Muslims from Pakistani and Bangladeshi backgrounds, it said, felt unwelcome because of it. The approved solution is not adaptation. It is a rewritten menu.
National Trust director-general Hilary McGrady spelled out the official line on LBC in March. Ethnic minorities, she said, do not feel the countryside is "a place for them."
"They don't necessarily know 'what am I meant to wear, how do I behave? What's a countryside code? I've never heard of it'."
The research, she added, "comes back really clearly to say they don't. So we accept that and we have to respond... because the National Trust is here for everyone."
Britain's national parks are already open to anyone who can stay on the path. The Trust's answer is still to treat the existing rural culture as the problem, while hosting Ramadan residentials at Ilam Hall.
Julian Glover's 2019 Defra review called national parks "an exclusive, mainly white, mainly middle-class club" and a "'white' environment" at risk of becoming "irrelevant to the country that actually exists."
National Landscapes fell in behind it. The Chilterns promised outreach to Muslims from Luton and marketing in "community languages." Malvern Hills said "most white English users value the solitude" while "ethnic minority people" prefer "social company."
Nidderdale pledged a "more diverse cultural interpretation of the countryside." The Telegraph's February headline did not distort the papers. It was a drive to make the countryside "less white."
In 2024 Wildlife and Countryside Link told an all-party parliamentary group: "Cultural barriers reflect that in the UK, it is White British cultural values that have been embedded into the design and management of green spaces."
It added that "racist colonial legacies continue to frame nature in the UK as a 'white space'."
That is the climate in which a people-of-colour-only club is called community and a whites-only ramble would be called extremism.
The Guardian writer John Harris recently praised Peak District paths where a common sight is "women in their 20s wearing hijabs picnicked on giant rocks." Country walking, he wrote, had been "one of the most monoculturally white pursuits there is." The new scene is, according to Harris, "a wonderful rejection of the right's monotone vision of England."
While the reports fuss over clothing, dogs and menus, the British countryside itself is increasingly being used as a dump.
In November a fly-tip on the River Cherwell near Kidlington piled waste an estimated 20 feet deep and 500 feet long.
In January farmer Katie Davies found a river of rubbish down Bwlch Mountain in Treorchy, visible for miles. "I'm extremely frustrated and upset," she told the BBC. "It's just devastating." The mess "keeps me up at night."
Natural Resources Wales called fly-tipping "a serious crime." Over 70 percent of incidents involve household waste moved by unlicensed carriers.
The Kinder Scout trespassers wanted the right to roam. The new version wants branded weekends, race-gated clubs, faith residentials on Trust land, and a countryside redesigned because Defra decided "white English culture" was the defect.
The hills were not meant to be carved up by identity. Octavia Hill, a National Trust founder, wrote that "the need of quiet, the need of air and... the sight of sky and of things growing seem human needs, common to all." Common to all is the opposite of a programme that sorts walkers by race and creed, then calls the native remainder colonial.
Your support is crucial in helping us defeat mass censorship. Please consider donating via https://pauljosephwatson.locals.com/support or check out our unique https://modernity.news/shop. Follow us on X https://x.com/modernitynews.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 08:45
https://www.zerohedge.com/political/imagine-whites-only-hike-through-countryside

2026-08-27 12:36:33 UTC

Jobs 'AI'pocalypse No! Initial Jobless Claims Hover Near Record Lows
Jobs 'AI'pocalypse No! Initial Jobless Claims Hover Near Record Lows
The number of Americans filing for unemployment benefits for the first time dropped to 203k last week
https://cms.zerohedge.com/s3/files/inline-images/2026-08-27_05-31-39.jpg?itok=nTz4OxN_
The first time initial jobless claims hit this level was in May 2022.
New York and Illinois saw the largest rise in initial claims while California and New Jersey saw the biggest declines...
https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url%20%2827%29_6.jpg?itok=t9pFPNKE
Continuing jobless claims also dropped, holding below the 1.8 million Americans Maginot Line...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-27_05-32-57.jpg?itok=1J8hcWJ_
Another week, another confirmation that the 'low hire, no fire' economy remains the driving force and the Jobs AIpocalypse remains absent for now.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 08:36
https://www.zerohedge.com/personal-finance/jobs-aipocalypse-no-initial-jobless-claims-hover-near-record-lows

2026-08-27 12:05:00 UTC

The Greatest Cover-Up In Economic History: How Washington Hid Its Role In The 2008 Crash
The Greatest Cover-Up In Economic History: How Washington Hid Its Role In The 2008 Crash
https://mises.org/power-market/greatest-cover-economic-history-how-washington-hid-its-role-2008-crash,
The https://www.wsj.com/opinion/alan-greenspan-and-the-2008-09-financial-crisis-3bdc7f8c?eafs_enabled=false in a recent Wall Street Journal by Senator Phil Gramm and Representative Jeb Hensarling did the nation an immense service by dismantling the persistent myth that private market greed and financial deregulation caused the 2008 financial crisis. As they rightly pointed out, inflation-adjusted mortgage rates during the bubble era were historically high, and financial institutions were suffocating under increasingly strict federal mandates, not running wild in a deregulated vacuum.
https://cms.zerohedge.com/s3/files/inline-images/stonks_0.jpg?itok=u4t9J9iK
Yet, for nearly two decades, the public has been fed a completely fabricated baseline narrative. Having served as the Chief Economist at the Department of Housing and Urban Development (HUD) and later as the Chief Economist at Freddie Mac during critical regulatory shifts, and as an expert in securitization-having structured the first CMO with Larry Fink at First Boston, the first CBO with Mike Milken at Drexel, the first unique MBB with Lou Ranieri at Salomon, and later the first CLO-I watched the true mechanics of this disaster play out from the inside. The reality is uncomfortable for the political class: the real crime of 2008 was not a failure of capitalism, but a catastrophic failure of central planning.
The subprime crisis was deliberately engineered in Washington. Through affordable housing quotas managed by HUD, progressive policymakers systematically weaponized government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac. To meet arbitrary, politically-motivated homeownership targets, these institutions were forced to aggressively buy up low-quality, high-risk mortgages.
The mechanics of this distortion were devastatingly simple. To satisfy Washington's mandates, the GSEs had to continuously lower their credit scoring thresholds, accept zero-down-payment structures, and purchase loans with unverified incomes. This top-down command economy completely erased private market discipline. Private lenders-knowing they could instantly dump these toxic, subprime originations onto the balance sheets of government-backed entities-stopped underwriting for risk and began underwriting for political compliance. By forcing the financial system to accept trillions of dollars in low-quality debt, Washington single-handedly fueled the historic housing bubble.
When the house of cards inevitably collapsed, the economic devastation was staggering. The direct government fiscal costs alone reached an estimated $2 trillion domestically and topped $12 trillion globally in banking interventions and stabilization efforts. But the indirect, structural costs were far worse: a permanent loss of up to $14 trillion in US economic output and the immediate vaporization of over $19 trillion in household wealth.
Faced with a disaster of their own making, policymakers pulled off a multi-trillion-dollar ideological cover-up that may ultimately prove to be far more damaging than the original crime.
To shift the blame entirely onto private capital, Washington weaponized the Financial Crisis Inquiry Commission (FCIC). The commission's partisan majority report was custom-built to exonerate the state's progressive interventions. To achieve this, the political class relied heavily on a curated roster of nationally-recognized academic contributors. These individuals perfectly embodied what Nobel laureate economist Friedrich Hayek famously labeled "armchair intellectuals"-theorists with zero actual industry experience whose abstract models merely confused the public and distracted attention from the fundamental, government-driven causes of the collapse.
This academic misdirection, operating in tandem with Marxist-driven street movements like Occupy Wall Street, successfully captured the public imagination. By framing a state-engineered credit crisis as an inherent flaw of the free market, Washington channeled public rage away from regulators and straight onto Wall Street. This manufactured consensus provided the perfect pretext to pass the Dodd-Frank Act-a massive expansion of state regulatory power that heavily penalized the private sector while leaving the government's destructive, highly leveraged dominance over housing finance completely untouched.
The long-term consequences of this deception are playing out in real time today. We see the latest fruit of the 2008 cover-up in the radical economic platforms of the Democratic Socialists of America (DSA). Because the true history of the crash was erased, a new generation of progressives now uses the false narrative of "market failure" to demand national rent controls, a federal tenant bill of rights, and the aggressive expansion of state-owned "social housing." They are deploying the exact same rhetoric used by the FCIC majority and the Zuccotti Park occupiers to advocate for the complete central planning of American real estate.
By shielding Washington from accountability, the 2008 cover-up institutionalized systemic moral hazard and permanently crippled market discipline. When central planning fails, the state's universal response is to demand even more centralized control. Unless we aggressively correct the historical record and expose the armchair intellectuals who enabled this deception, the ongoing ideological cover-up will succeed in setting the stage for a new generation of even more devastating, state-engineered economic collapses.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 08:05
https://www.zerohedge.com/political/greatest-cover-economic-history-how-washington-hid-its-role-2008-crash

2026-08-27 11:45:00 UTC

Barack Obama Elementary School Closed Due To Mold And Rodents
Barack Obama Elementary School Closed Due To Mold And Rodents
Most people have never heard of the Barack Obama Elementary School in Richmond, VA, but the story of the school is interesting because it's a reflection of the political madness the US went through over the course of the past decade.
The school was originally built in 1922 and is over 100 years old. It was once called J.E.B Stuart Elementary, but in 2018, the political left went on a historical arson spree - Tearing down statues and renaming anything with ties to the Confederacy as a way to assert ideological dominance.
https://cms.zerohedge.com/s3/files/inline-images/ObamaRat1.jpg?itok=8qZ6zEVS
Hysteria over the protest events in Charlotte in which "Nazis" held a torchlight vigil (which we now know was most likely funded and organized by the SPLC) led to an American version of the Chinese Cultural Revolution.
The remnants of the Civil War were slated for erasure and the school, named after a confederate general, was an obvious target. It was renamed after Barack Obama; taking on the reputation of a president who did more to sow racial division in the US than any other person in modern history. The fanatical woke movement was nurtured and given momentum by the Obama Administration and the American public has been dealing with the repercussions ever since.
Like its namesake, Barack Obama Elementary has something rotten under the surface.
The school of 285 students is now shut down for an undisclosed period after it was discovered that the buildings were testing https://abcnews.com/US/barack-obama-elementary-school-richmond-temporarily-closes-after/story?id=135938404. The facility also had https://thepostmillennial.com/barack-obama-elementary-school-closed-indefinitely-due-to-mold-rodents (mice or rats) in several rooms, alongside the more prominent mold health issue. The mold and rodent problems were noticed by staff as they prepared for the start of the new school year.
Officials say they hope to reopen the building in a week, though this has proven to be an overly optimistic goal after earlier “clear” air-quality tests were quickly contradicted by new visible mold discoveries (behind bulletin boards, on computers, in the art room, etc.), forcing repeated delays. A more realistic time frame is one month or more.
The building is indeed old, but it is rather poetic that a property renamed to "hide the shame" of its confederate roots ended up being shut down after "Barack Obama" was slapped on the front because of decay. It's also ironic that Democrats were so proud of themselves for blotting out a confederate figure: The confederates were, of course, Democrats. School officials say they will work to reopen the facility as soon as possible, though no concrete timeline has been given.
Following their mantra of "never let a good crisis go to waste" (quoted by Rahm Emmanuel, former Chief of Staff to Barack Obama), Democrats are seeking to use the school closure as further leverage to promote a new sales tax in the area.
Barack Obama Elementary is in a majority black neighborhood and the student body is around 95% black. The shutdown of the school is a sensitive subject for Democrats and liberals because of the symbolism. Once a group attaches their political image to a building or a monument, they make those monuments a target for ridicule. One of their buildings is now full of fungus and rats; it's funny because it's fitting.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 07:45
https://www.zerohedge.com/political/barack-obama-elementary-school-closed-due-mold-and-rodents

2026-08-27 09:45:00 UTC

Global Youth Unemployment And Inactivity Inch Up Again
Global Youth Unemployment And Inactivity Inch Up Again
For two years in a row, https://www.statista.com/topics/9225/unemployment-worldwide/and inactivity among youths aged 15 to 24 has inched up again across world regions.
As seen in data by the International Labor Organization, the coronavirus pandemic caused these rates to go up in 2020, but the situation improved again gradually, in 2022 and 2023 falling below pre-pandemic levels.
But, https://www.statista.com/chart/36550/youth-unemployment-and-inactivity-rates-among-15-to-24-year-olds/, since then, rates have been on a slow upswing once more, reaching 12.4 percent of https://www.statista.com/topics/11937/youth-unemployment-worldwide/ and 20 percent of youths overall who are either unemployed or not engaging in any activity like education, training, employment or looking for work.
https://www.statista.com/chart/36550/youth-unemployment-and-inactivity-rates-among-15-to-24-year-olds/
You will find more infographics at https://www.statista.com/chartoftheday/
According to the recently released ILO report https://www.ilo.org/sites/default/files/2026-08/9789220437612_PDFA_Web_ENG.pdf, progress made in the area of youth employment post-Covid has come to an "abrupt halt" as uncertainty and fragility have taken over global economies, GDP growth has remained subdued and inflation has been high. The report also points out that there has not only been a deterioration in the quantity, but also the quality of jobs for youths globally, meaning that many are underemployed or work jobs that don't match their qualifications. Especially the group of NEETs (who are neither in employment, education or training) is made up of a high number of women and girls, who tend to focus on housework and family care responsibilities more often.
12.4 percent unemployed young people between the ages of 15 and 24 equal 67 million individuals worldwide, while the NEET rate of 20 percent translates to 257 million youths. Unemployment rates were higher among young men, while NEET status was more widespread among young women.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 05:45
https://www.zerohedge.com/personal-finance/global-youth-unemployment-and-inactivity-inch-again

2026-08-27 08:15:00 UTC

Switzerland Has The Highest 'Minimum Wage' In The World
Switzerland Has The Highest 'Minimum Wage' In The World
Minimum wages vary widely around the world, but comparing headline wage rates alone can obscure how much workers can actually buy with them.
This visualization, https://www.visualcapitalist.com/mapped-minimum-wages-around-the-world-adjusted-for-cost-of-living/ compares monthly minimum wages using 2024 data from the https://ilostat.ilo.org/data/?cat_mode=subject. Figures are expressed in purchasing power parity (PPP)-adjusted U.S. dollars, making wages more comparable based on what they can buy locally.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_17-24-21.jpg?itok=hyKB_2Nc
Where no single national minimum exists, ILOSTAT uses other applicable wage floors to make comparisons across countries.
The Countries With the Highest Minimum Wages
Switzerland tops the dataset at $3,804 per month, based on a regional rather than nationwide minimum wage. Germany, the UK, and the Netherlands follow at roughly $2,900. Eight of the top 10 countries are in https://www.visualcapitalist.com/mapped-minimum-wages-across-europe/, while Australia and New Zealand are the only two outside the region.
South Korea stands out at $2,362, the highest figure in Asia. The U.S. sits much lower at $1,257 per month, ranking 25th overall. The ILO uses the federal minimum wage of $7.25 an hour rather than the $10.69 average state minimum in 2024.
RankCountryMonthly Minimum Wage, PPP-Adjusted
1🇨🇭 Switzerland$3,804
2🇩🇪 Germany$2,928
3🇬🇧 UK$2,902
4🇳🇱 Netherlands$2,876
5🇦🇺 Australia$2,819
6🇧🇪 Belgium$2,752
7🇮🇸 Iceland$2,730
8🇳🇿 New Zealand$2,673
9🇫🇷 France$2,465
10🇮🇪 Ireland$2,433
11🇰🇷 South Korea$2,362
12🇸🇲 San Marino$2,339
13🇨🇦 Canada$2,324
14🇪🇸 Spain$2,248
15🇵🇱 Poland$2,141
16🇯🇵 Japan$1,839
17🇷🇴 Romania$1,799
18🇴🇲 Oman$1,757
19🇬🇷 Greece$1,735
20🇵🇹 Portugal$1,713
21🇮🇱 Israel$1,630
22🇧🇭 Bahrain$1,590
23🇭🇺 Hungary$1,409
24🇨🇿 Czechia$1,319
25🇺🇸 U.S.$1,257
26🇭🇰 Hong Kong SAR$1,186
27🇨🇷 Costa Rica$1,093
28🇧🇴 Bolivia$1,078
29🇨🇱 Chile$1,076
30🇲🇾 Malaysia$1,035
31🇧🇸 Bahamas$1,017
32🇫🇯 Fiji$1,010
33🇩🇲 Dominica$1,000
34🇮🇩 Indonesia$993
35🇵🇾 Paraguay$986
36🇬🇹 Guatemala$963
37🇵🇦 Panama$943
38🇧🇿 Belize$940
39🇭🇳 Honduras$929
40🇹🇹 Trinidad and Tobago$909
41🇵🇼 Palau$889
42🇪🇬 Egypt$863
43🇧🇦 Bosnia and Herzegovina$850
44🇨🇴 Colombia$843
45🇩🇴 Dominican Republic$826
46🇹🇭 Thailand$822
47🇯🇴 Jordan$809
48🇲🇦 Morocco$773
49🇻🇨 Saint Vincent and the Grenadines$766
50🇸🇨 Seychelles$766
51🇧🇾 Belarus$766
52🇸🇻 El Salvador$760
53🇲🇺 Mauritius$753
54🇰🇳 Saint Kitts and Nevis$740
55🇬🇩 Grenada$705
56🇦🇬 Antigua and Barbuda$702
57🇻🇳 Viet Nam$693
58🇯🇲 Jamaica$670
59🇷🇺 Russia$662
60🇦🇿 Azerbaijan$654
61🇮🇶 Iraq$626
62🇿🇦 South Africa$620
63🇬🇾 Guyana$619
64🇲🇽 Mexico$599
65🇧🇧 Barbados$592
66🇲🇳 Mongolia$591
67🇲🇻 Maldives$587
68🇵🇰 Pakistan$570
69🇦🇷 Argentina$568
70🇳🇮 Nicaragua$565
71🇧🇷 Brazil$559
72🇱🇾 Libya$553
73🇨🇳 China$544
74🇬🇦 Gabon$529
75🇵🇪 Peru$526
76🇨🇬 Congo$517
77🇹🇳 Tunisia$513
78🇳🇵 Nepal$490
79🇰🇿 Kazakhstan$483
80🇦🇲 Armenia$476
81🇩🇿 Algeria$473
82🇮🇷 Iran$466
83🇻🇺 Vanuatu$458
84🇼🇸 Samoa$440
85🇬🇶 Equatorial Guinea$425
86🇰🇼 Kuwait$408
87🇵🇭 Philippines$400
88🇦🇫 Afghanistan$393
89🇧🇩 Bangladesh$379
90🇲🇿 Mozambique$379
91🇶🇦 Qatar$363
92🇰🇪 Kenya$361
93🇧🇼 Botswana$354
94🇱🇧 Lebanon$344
95🇨🇮 Côte d'Ivoire$320
96🇺🇿 Uzbekistan$311
97🇱🇸 Lesotho$306
98🇰🇮 Kiribati$289
99🇱🇦 Laos$286
100🇸🇷 Suriname$283
101🇨🇻 Cape Verde$282
102🇸🇳 Senegal$280
103🇵🇬 Papua New Guinea$268
104🇧🇯 Benin$261
105🇹🇱 Timor-Leste$252
106🇹🇩 Chad$252
107🇹🇯 Tajikistan$252
108🇳🇬 Nigeria$245
109🇲🇷 Mauritania$244
110🇹🇬 Togo$235
111🇮🇳 India$233
112🇹🇿 Tanzania$228
113🇧🇫 Burkina Faso$226
114🇦🇴 Angola$225
115🇸🇧 Solomon Islands$219
116🇰🇲 Comoros$218
117🇨🇲 Cameroon$212
118🇲🇬 Madagascar$210
119🇲🇱 Mali$208
120🇱🇰 Sri Lanka$200
121🇳🇪 Niger$196
122🇧🇹 Bhutan$180
123🇭🇹 Haiti$167
124🇬🇳 Guinea$153
125🇨🇫 Central African Republic$133
126🇸🇱 Sierra Leone$121
127🇬🇭 Ghana$100
128🇰🇬 Kyrgyzstan$91
129🇬🇼 Guinea-Bissau$83
130🇬🇲 Gambia$67
After adjusting for purchasing power, the U.S. federal minimum wage is less than half Germany’s, despite the U.S. having one of the highest https://www.visualcapitalist.com/ranked-where-wages-go-furthest-around-the-world/ in the world.
Minimum-wage systems aren’t identical across countries. The U.S. figure uses the federal minimum, while Canada’s figure represents the median of provincial rates. As a result, the figures should be read as standardized country comparisons rather than the wage floor faced by every worker.
Countries where wage floors are set primarily through collective bargaining, including Sweden, Norway, Denmark, Finland, Austria, and Italy, are shown as having no comparable data.
Why the U.S. Minimum Wage Ranks 25th
One reason for America’s position is that the federal minimum wage hasn’t increased in 17 years. It has remained at $7.25 an hour since July 2009, the longest stretch without an increase since the federal minimum wage was established.
Inflation has steadily eroded what that $7.25 paycheck can buy. To match the purchasing power of the federal minimum wage when it took effect in 2009, workers would need to earn $11.47 an hour today. In other words, its https://www.visualcapitalist.com/chart-the-declining-value-of-the-u-s-federal-minimum-wage/ by roughly 37% since 2009.
Many Americans earn above the federal wage floor. Thirty states and Washington, D.C., have minimum wages above $7.25, while some cities set even higher rates. Still, the long federal freeze helps explain why the U.S. sits significantly below many other high-income economies.
How Cost of Living Reshuffles the Ranking
Adjusting for local prices produces some surprising comparisons. Poland ranks 15th globally at $2,141 per month, close to Spain at $2,248 and ahead of Japan at $1,839.
In Latin America, Costa Rica leads at $1,093, just $164 below the U.S. federal minimum on a purchasing-power basis. Last year, https://www.mtss.go.cr/prensa/comunicados/2025/octubre/cp_051_2025.html raised private-sector minimum wages using a formula that considers both the cost of living and productivity growth.
These figures offer a better sense of what minimum wages can buy locally, but they don’t account for taxes or benefits. Because the adjustments are national, they can also mask large differences in housing costs between cities and regions.
To learn more about this topic, check out this https://www.voronoiapp.com/money/-This-is-the-Real-Minimum-Wage-in-High-Income-Countries-and-All-US-States-Tap-to-Expand-6842 comparing minimum wages across countries and U.S. states, adjusted for living costs.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 04:15
https://www.zerohedge.com/personal-finance/switzerland-has-highest-minimum-wage-world

2026-08-27 07:30:00 UTC

Full-Face Veils Banned In Portugal After President Signs 'Burqa Law'
Full-Face Veils Banned In Portugal After President Signs 'Burqa Law'
https://rmx.news/trending/full-face-veils-banned-in-portugal-after-president-signs-burqa-law/,
Portuguese President António José Seguro has officially signed into law a bill banning face-concealing attire in public spaces, with the move seen targeting the full-face Islamic veils like the burqa and niqab.
https://cms.zerohedge.com/s3/files/inline-images/pexels-akoonie-15968341-scaled.jpg?itok=72IQ8Sop
Addressing the national debate, President Seguro framed the decision around human interaction, stating:
"The face should be considered a central element of human identity and communication."
However, the former Socialist Party leader acknowledged the controversial nature of the ban, recognizing it as a matter of significant cultural and social sensitivity.
The law was largely backed by the country's right-wing politicians and labeled the "burqa law" by Portuguese media.
It passed parliament in July with the votes of right-wing parties, with the left firmly in opposition.
The new legal framework strictly limits garments designed to hide one's identity in public spaces.
It also penalizes forcing individuals to cover their faces based on gender, religion, or age.
Violators face financial penalties ranging from €150 to €3,000.
There are, however, some exceptions.
Wearing items that cover the face, such as medical masks, professional/artistic gear, and extreme weather wear, are all examples of exceptions under the law.
https://rmx.news/trending/full-face-veils-banned-in-portugal-after-president-signs-burqa-law/
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 03:30
https://www.zerohedge.com/political/full-face-veils-banned-portugal-after-president-signs-burqa-law

2026-08-27 06:45:00 UTC

"Citizens Want Political Turnaround": AfD Now Polls At 43% Across Eastern Germany
"Citizens Want Political Turnaround": AfD Now Polls At 43% Across Eastern Germany
Building on Nomura analyst Andrzej Szczepaniak's note from earlier this week, which forecasts that right-wing parties are positioned to make electoral gains across Germany, France, Spain, Switzerland, and the UK over the next 18 months, new polling data from Germany further suggest that Alternative for Germany (AfD) is performing exceptionally well as citizens demand political change after years of failed progressive experiments that encouraged a Third World migrant invasion and https://www.zerohedge.com/markets/death-europes-industrial-base-140000-vw-jobs-risk-union-brands-turnaround-plan-cloud-cuckoo.
https://cms.zerohedge.com/s3/files/inline-images/afd%20alice.png?itok=sPH2BeNA
AfD co-leader Alice Weidel cited new polling data on X from a Forsa survey showing that, if a federal election were held now, eastern German voters would choose:
- AfD: 43%
- The Left: 16%
- CDU/CSU: 13%
- Greens: 9%
- SPD: 9%
- FDP: 3%
- Other parties: 7%
Weidel said, "According to a recent Forsa survey, the AfD is at 43% across the entire East, while the CDU is down to just 13%. The citizens want the political turnaround!"
Einer aktuellen Forsa-Umfrage nach liegt die AfD im gesamten Osten bei 43%, während die CDU auf nur noch 13% kommt. Die Bürger wollen die politische Wende!https://t.co/c94bESp3Qu https://t.co/lrKvllJCAa
— Alice Weidel (@Alice_Weidel) https://x.com/Alice_Weidel/status/2092495854724640993?ref_src=twsrc%5Etfw
The key takeaway from the new survey is that the AfD is polling at more than three times the level of the center-right CDU/CSU and exceeds the combined support of the CDU/CSU, SPD, and Greens.
German weekly newspaper https://jungefreiheit.de/allgemein/2026/afd-liegt-im-ganzen-osten-jetzt-bei-43-prozent/ commented on the new survey, saying, "The numbers are particularly interesting ahead of the upcoming state elections in Saxony-Anhalt on September 6th and in Mecklenburg-Western Pomerania two weeks later."
The outlet continued, "The assessment of Chancellor Friedrich Merz's (CDU) performance remains abysmal across Germany. As in the previous week, only 13 percent of those surveyed expressed satisfaction, while 85 percent were dissatisfied."
Elon Musk has previously stated, "AfD is the only hope for Germany."
AfD is the only hope for Germany https://t.co/6ONn1LOipE
— Elon Musk (@elonmusk) https://x.com/elonmusk/status/2090135010993160442?ref_src=twsrc%5Etfw
One reason German citizens are particularly frustrated is that Europe's economic engine is collapsing, with Volkswagen Group labor representatives warning earlier this week that as many as https://www.zerohedge.com/markets/death-europes-industrial-base-140000-vw-jobs-risk-union-brands-turnaround-plan-cloud-cuckoo at the struggling automaker.
Circling back to Szczepaniak, the Nomura analyst wrote, "Five years ago, financial markets would not have seemed so at ease with such a prospect. But then again, these populist right-wing political parties were previously not so fiscally prudent as they are perceived to be today."
He added, "Now, if anything, financial markets are much more concerned about populist left-wing parties being elected due to their desire to increase spending, often paid for through higher borrowing or higher taxes, which are likely to shut the engine off of already stuttering economies."
EU Election Roadmap
https://cms.zerohedge.com/s3/files/inline-images/2026-08-23_10-49-48.png?itok=dA6DoebM
Read Nomura's assessment of Europe's changing political landscape https://www.zerohedge.com/political/seeds-political-change-nomura-sees-europe-lurching-right-and-markets-are-fine-it.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/27/2026 - 02:45
https://www.zerohedge.com/political/citizens-want-political-turnaround-afd-now-polls-43-across-eastern-germany

2026-08-27 03:00:00 UTC

Soda Purchases Slumped 13% After SNAP Sugary Drink Restrictions
Soda Purchases Slumped 13% After SNAP Sugary Drink Restrictions
Soda purchases fell about 13 percent among Supplemental Nutrition Assistance Program (SNAP) beneficiaries after 10 states restricted purchases of sugary drinks with SNAP funds in 2026, a study found.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_12-44-39.jpg?itok=cZQCpX-w
SNAP restriction waivers banned non-nutritious items like soda and candy to ensure that taxpayer dollars are directed toward nutritious options that improve health outcomes, the U.S. Department of Agriculture stated on its website.
https://www.nber.org/papers/w35659 - evaluated the immediate effects of SNAP food restriction waivers in 10 states that implemented the bans.
Researchers used a Nielsen consumer dataset of about 5,000 SNAP households from July 2025 to June 2026.
Before the ban, the average SNAP household bought about 185 ounces of soda per month. That’s about 15 cans. The 13 percent drop is about 24 ounces, or two cans less per month.
Purchases of energy drinks also decreased by 4 ounces per household per month.
Interestingly, https://www.theepochtimes.com/us/soda-purchases-declined-13-percent-after-snap-sugary-drink-restrictions-study-finds-6079270?utm_source=partner&utm_campaign=ZeroHedge, the study found that even households having enough cash to offset the restrictions reduced soda consumption by 18.5 percent, down 40 ounces per month.
When states labeled soda as an unapproved purchase, it acted as a powerful psychological signal, according to the report.
Arkansas shelf tag...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_12-42-10.jpg?itok=HL92Gann
Instead of bypassing the ban with cash, families reconsidered their habits.
The policy changed what they viewed as appropriate foods to buy, leading to a significant drop in overall soda purchases, according to the study.
These findings indicate that simple administrative restrictions can effectively steer dietary choices and potentially improve public health outcomes, the researchers concluded.
Texas shelf tag...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_12-42-50.jpg?itok=r3t1FXiF
However, it’s not clear how big the impact on sugar consumption will be.
A similar study in 2024 predicted a decline of up to 20 percent in soda purchases when the soda bans went into effect, but also forecast a 7 percent increase in juice consumption.
That would mean an overall decrease of just 7 percent in the intake of sugar from beverages.
Data on the current level of juice consumption by SNAP users is not yet available.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_12-43-53.jpg?itok=SHSFY5gG
In fiscal year 2025, SNAP distributed $102.6 billion to nearly one in eight Americans, more than 42 million people. That’s about $2,400 per person per year.
Until this year, those funds could be used to purchase nearly all foods except for alcoholic beverages and hot prepared foods.
As of August, 23 states have implemented SNAP restriction waivers and https://www.theepochtimes.com/us/junk-food-bans-for-snap-users-in-some-states-starting-2026-what-to-know-5961633 recipients from purchasing junk food such as beverages and candy.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_12-51-12.jpg?itok=9-_U0hPj
This is the first time in the program’s history that the Department of Agriculture has granted waivers allowing states to restrict SNAP benefits.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 23:00
https://www.zerohedge.com/political/soda-purchases-slumped-13-after-snap-sugary-drink-restrictions

2026-08-27 02:35:00 UTC

US Special Forces Conducting Operations Inside Ecuador
US Special Forces Conducting Operations Inside Ecuador
https://news.antiwar.com/2026/08/25/us-special-forces-conducting-operations-inside-ecuador/,
An Ecuadorian official confirmed that US Green Berets were engaged in anti-cartel operations. Earlier this year, President Donald Trump formed a coalition, dubbed Shield of the Americas, that was aimed at combating cartels in Latin and South America.
https://cms.zerohedge.com/s3/files/inline-images/ecuador3_80.jpg?itok=RffjiIdo
A local official https://taskandpurpose.com/news/us-ecuador-special-forces-joint-operations/ that US special forces have been conducting direct operations against suspected cartels in the Esmeraldas province. "We are with the 7th (Special Forces) Group of the US Army. We are working together in the fight against narcoterrorism," Esmeraldas Provincial governor Juan Jaramillo said last week.
Ecuadorian Defense Minister Gian Carlo Loffredo added that two US warships were operating in the region.
In March, President Donald Trump said that a dozen Latin American nations had enlisted in the Shield of the Americas coalition to fight cartels in the region. Ecuador is a member of the bloc.
https://theintercept.com/2026/03/04/us-military-ecuador-trump/, the US and Ecuador conducted joint military operations against alleged drug targets. "The operations are a powerful example of the commitment of partners in Latin America and the Caribbean to combat the scourge of narco-terrorism," U.S. Southern Command said following the raid.
However, The New York Times https://archive.is/Rx7rIthat the target of the operation was a dairy farm, not a drug lab. "The military strike appears to have destroyed a cattle and dairy farm, not a drug trafficking compound, according to interviews with the farm's owner, four of its workers, human rights lawyers, and residents and leaders in San Martín," the outlet explains.
The military activity in Ecuador is part of Operation Southern Spear. Trump ordered the Department of War last year to expand military operations in Latin America to curb narcotics trafficking to the US.
The US has conducted dozens of airstrikes against suspected drug boats in the Caribbean Sea and Eastern Pacific Ocean. The operations have killed over 200 people and over 60 vessels.
The White House has asserted that the targeted boats are operated by narco-terrorists attempting to smuggle fentanyl into the US. However, the administration has not offered the American people any evidence to support the claim.
Additionally, some evidence suggests that at least some of the vessels that have been attacked were not involved in narcotics trafficking. The family members of several victims have said their slain relatives were fishermen.
Last month, The Washington Post reported https://www.washingtonpost.com/world/2026/07/27/operation-southern-spear-has-not-slowed-cocaine-entering-us/ a DEA assessment that found the strikes on vessels operated by alleged narco-terrorists have not changed the amount or price of cocaine entering the US. US military officials also admitted to Congress that the operations have had no impact on purity.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 22:35
https://www.zerohedge.com/geopolitical/us-special-forces-conducting-operations-inside-ecuador

2026-08-27 02:10:00 UTC

University Of Maryland Warns Trump's Four-Year Visa Cap Could Crush Graduate Enrollment By 30%
University Of Maryland Warns Trump's Four-Year Visa Cap Could Crush Graduate Enrollment By 30%
The Trump administration is overhauling rules governing the length of stay for international students and exchange visitors, replacing a decades-old system with a fixed period of up to four years.
Beginning Sept. 15, most people entering on F-1 and J-1 visas will no longer be admitted for "duration of status," which generally allows them to remain in the country as long as they maintain their academic or exchange programs.
Instead, students and scholars will receive predetermined admission periods based on the length of their programs, capped at four years. Any extension needed to complete a degree, including for many doctoral candidates, will require an application to U.S. Citizenship and Immigration Services.
The new four-year visa cap could be damning for some colleges and universities that rely heavily on international students.
A new report from local outlet https://www.thebanner.com/education/higher-education/maryland-grad-students-trump-visa-policy-SFUDKUG2RZFM5B4ZYU3XPN3SJ4/?fbclid=IwY2xjawT7DuNwZG9mAWV4dG4DYWVtAjExAHNydGMGYXBwX2lkEDIyMjAzOTE3ODgyMDA4OTIAAR70LfMKmt6y5N4E0gMRRu2Xt16cKCF7DL48sNKla1VHyq3xy2pd5PlzEwrRgg_aem_v1trQVmE1FUHHyAlnlGqWw warns that the University of Maryland "could face a decline of as much as 30% of its newly admitted graduate students this fall, thanks to a new visa restriction proposed by the Trump administration this summer."
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_08-40-54.png?itok=LmZAauoR
University officials disclosed a new estimate in court filings supporting a federal lawsuit seeking to block the four-year visa cap. The University of Maryland and University of Baltimore face similar contractions in international enrollment.
According to the report, international students contributed an estimated $240.4 million to the University of Maryland and the surrounding economy during the 2024-25 academic year. At the University of Maryland, Baltimore, that figure was around $14 million.
Whether the four-year visa cap proves to be the final pin that finally punctures America's higher-education bubble remains to be seen. But certaintly may cause hardships for universities that heavily rely on foreign enrollment.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 22:10
https://www.zerohedge.com/political/university-maryland-warns-trumps-four-year-visa-cap-could-crush-graduate-enrollment-30

2026-08-27 01:20:00 UTC

Pennsylvania Reports Two Deaths From Measles As US Cases Hit Highest Level Since 1991
Pennsylvania Reports Two Deaths From Measles As US Cases Hit Highest Level Since 1991
Two people have died in connection with measles in Pennsylvania, state health officials announced on August 25.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281085%29.jpg?itok=c2lv1h6o
The Pennsylvania Department of Health said the deaths were "related to measles." Both individuals lived in Lancaster County and had not received a measles vaccine. Officials declined to release further details, citing the need to protect the privacy of the deceased and their families.
Nationally, measles cases in 2026 have already https://www.theepochtimes.com/health/us-measles-cases-in-2026-highest-in-35-years-6067006?utm_source=partner&utm_campaign=ZeroHedge the total recorded in 2025 and stand at the highest level since 1991. Pennsylvania has confirmed 393 cases so far this year. These are the first measles-related deaths reported in the United States in 2026, and Pennsylvania's first in 35 years, The Epoch Times https://www.theepochtimes.com/us/2-dead-from-measles-in-us-pennsylvania-officials-say-6079267?utm_source=partner&utm_campaign=ZeroHedge.
In 2025, three people died from measles, according to the Centers for Disease Control and Prevention. Health Secretary Robert F. Kennedy Jr. and others have said medical records showed those patients died from unrelated conditions or from health problems that were worsened by measles. Texas health officials attributed both children's deaths to measles and said neither had underlying conditions.
Kennedy and health officials have encouraged people to receive the measles, mumps, and rubella (MMR) vaccine. At the same time, Kennedy has stressed that vaccination should not be mandatory and that doctors should be prepared to treat measles cases.
Asked about the current measles situation earlier this month, Kennedy told reporters: "We've done better than any country in the world in controlling it." He also said that the outbreak has been almost entirely confined to religious communities that decline vaccination.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 21:20
https://www.zerohedge.com/medical/pennsylvania-two-deaths-measles-us-cases-hit-highest-level-1991

2026-08-27 00:55:00 UTC

Waste Of The Day: Deficit Could Surpass $2 Trillion
Waste Of The Day: Deficit Could Surpass $2 Trillion
https://www.realclearinvestigations.com/articles/2026/08/25/waste_of_the_day_deficit_could_surpass_2_trillion_1201983.html,
The federal deficit will be $2.1 trillion when fiscal year 2026 ends on Sept. 30, the Congressional Budget Office projected in its https://www.cbo.gov/system/files/2026-08/61983-2026-07-MBR.pdf.
The deficit - the gap between what the government spends and what it collects from taxes and other revenue - has never surpassed $1.8 trillion, except during the Covid-19 pandemic.
https://cms.zerohedge.com/s3/files/inline-images/725056_6__80.jpg?itok=IYNkdO1F
Key facts: Federal revenues are up 3% in 2026 compared to last year. Even though corporate income tax revenue has declined, income and payroll tax collections increased.
But federal spending is up 5%, according to the CBO. Interest on the national debt increased 14% compared to last year. Social Security, Medicare, Medicaid, and defense are also facing increased costs.
The CBO originally projected this year's deficit would be $1.9 trillion. The estimate was changed "mostly because of smaller-than-expected collections of tariff duties" after the Supreme Court struck down tariffs imposed by President Donald Trump in February.
Though Trump later imposed new tariffs, the CBO still expects federal revenue to be $250 billion less than originally anticipated. About https://www.cbsnews.com/news/how-to-get-a-tariff-refund-ieepa/ has been refunded to companies so far, under an order from the U.S. Court of International Trade.
Critical quote: "We've borrowed an astounding $1.8 trillion this fiscal year, with $431 billion in the month of July alone, and equating to nearly $6 billion per day," https://www.crfb.org/press-releases/cbo-estimates-18-trillion-deficit-first-10-months-fy-2026 Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "We're on track to surpass $2 trillion in borrowing this fiscal year despite not being in a recession. That is not normal."
Background: The University of Pennsylvania recently https://budgetmodel.wharton.upenn.edu/p/2026-06-02-when-does-federal-debt-reach-unsustainable-levels/ that under current policy, it will likely be mathematically impossible for the U.S. to pay off its debt by the year 2048.
That was before Trump asked Congress to increase discretionary spending by https://www.whitehouse.gov/omb/information-resources/budget/historical-tables/ next year, which would be the second-largest spending increase in at least https://www.whitehouse.gov/omb/information-resources/budget/historical-tables/.
Summary: America's affordability crisis is the most prominent political issue in the country, yet neither party has committed to reducing government deficits. Until then, the crisis is likely to only worsen.
The #WasteOfTheDay is brought to you by the forensic auditors at Open the Books. Search all federal, state and local salaries and vendor spending with the world's largest government spending database at http://openthebooks.com.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 20:55
https://www.zerohedge.com/economics/waste-day-deficit-could-surpass-2-trillion

2026-08-27 00:30:00 UTC

How Many $2,500 Foldable iPhones Will Apple Ship In Year One? IDC Has The Answer
How Many $2,500 Foldable iPhones Will Apple Ship In Year One? IDC Has The Answer
Apple is set to unveil its first foldable iPhone at the company's September 9 product event at 1300 ET.
https://cms.zerohedge.com/s3/files/inline-images/apple_6.jpg?itok=2fwXBJ1h
Ahead of what could be Apple's biggest handset launch in many years, technology market research firm International Data Corporation, better known as IDC, issued a new forecast estimating just how many foldable iPhones Apple could ship during the device's first year.
https://www.bloomberg.com/news/articles/2026-08-26/apple-to-ship-10-million-foldable-iphones-in-year-one-idc-says first reported IDC's estimate that the $2,500 foldable iPhone could generate more than 10 million shipments during its first year.
JUST IN: Apple sets September 9 for its next major launch event, where it is expected to unveil the first foldable iPhone.
— Polymarket (@Polymarket) https://x.com/Polymarket/status/2092651675328626731?ref_src=twsrc%5Etfw
Apple's entry into foldable smartphones, a segment of the handset industry first pioneered commercially by Chinese manufacturer Royole with the FlexPai nearly a decade ago, is forecast to help the foldable-phone market grow 12.6% this year, followed by an 18% increase next year. The iPhone maker could capture about 40% of global foldable shipments by 2027, IDC said.
Samsung Electronics launched the first mainstream foldable smartphone seven years ago. The complexity of these handsets commands premium pricing, making the category an attractive revenue stream.
Apple's foldable iPhone launch comes as IDC expects global smartphone shipments to decline by a record 16.7% this year. The industry is battling surging costs tied to a https://www.zerohedge.com/technology/memory-chip-crunch-hits-smartphone-demand-across-china.
"The components that make AI possible are the same ones in short supply, and their cost is being passed straight through to the shelf," IDC's Francisco Jeronimo said.
Alleged Foldable iPhone Motherboard Photos Surface Online https://t.co/C9n3M48X4C https://t.co/yd6E2jKKTc
— MacRumors.com (@MacRumors) https://x.com/MacRumors/status/2092576253731799081?ref_src=twsrc%5Etfw
Jeronimo added, "The era of the cheap smartphone has ended."
Polymarket:
Will Apple release a foldable iPhone before 2027?
Yes 93% · No 8%
https://polymarket.com/event/will-apple-release-a-foldable-iphone-before-2027.However, consumers have not necessarily shunned expensive handsets, in part because carrier financing now commonly spreads payments over 24 to 36 months.
A $2,500 foldable iPhone would cost about $104 per month over 24 months or $69 per month over 36 months, before trade-in credits.
Whether the expensive foldable iPhone becomes a smashing success will largely depend onconsumers'’ willingness to upgrade. Recent GSMA research found that consumers are keeping their smartphones for an average of three years.
For iPhones, research firm Counterpoint found that Pro model owners replace their devices after an average of 2.75 years, while buyers of standard models wait about a little more than 3 years.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 20:30
https://www.zerohedge.com/technology/how-many-2500-foldable-iphones-will-apple-ship-year-one-idc-has-answer

2026-08-27 00:05:00 UTC

Japan Holds Off On New Oil Reserve Release Despite September Import Drop
Japan Holds Off On New Oil Reserve Release Despite September Import Drop
https://oilprice.com/Latest-Energy-News/World-News/Japan-Holds-Off-on-New-Oil-Reserve-Release-Despite-September-Import-Drop.html,
Japan expects its oil imports next month to be lower than this month's but has no plans to release additional crude from storage, the country's economy minister said.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-25_jk7cmqk6ix.jpg?itok=6DMIkZhp
Oil imports next month are seen at 80% of the average monthly for 2025, Ryosei Akazawa said, as https://www.reuters.com/business/energy/japan-plans-no-crude-oil-release-national-reserve-september-october-2026-08-25/ by Reuters. The report noted that the August import rate had been 100% of the 2025 monthly total.
The change is prompted by the redirection of tanker traffic from the Bab el-Mandeb Strait to the Suez Canal, as Yemeni Houthis threaten attacks on vessels in the Red Sea chokepoint. A tanker takes 23 days to reach Japan via the Bab el-Mandeb strait but more than twice that, at 55 days, via the Suez Canal, Akazawa told media.
"Of the national reserves for which a release has already been decided, there remains a portion that has not been utilised due to progress in securing alternative supplies. Using that portion would ensure (September) crude oil supply equivalent to an average month last year," the top official also said.
Japan in March announced a release of 80 million barrels of crude and fuels in response to the supply squeeze in the Middle East resulting from the U.S. and Israeli strikes on Iran at the end of February that launched the latest war in the region. The amount was equal to 50 days of demand in one of the world's biggest energy importers.
Japan relied on Middle Eastern producers for as much as 95% of its oil imports, which made it especially vulnerable to conflict in the Persian Gulf. Since then, Japan has made an effort to diversify its sources of crude, buying from Canada, Azerbaijan, and African producer countries. This has come at a price, however, with the country's import bill running at record highs because of energy commodities. The https://cms.zerohedge.com/Latest-Energy-News/World-News/Surging-Oil-Prices-Push-Japans-Import-Bill-to-an-Unprecedented-High.html for July hit an all-time high of $89.46 billion.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 20:05
https://www.zerohedge.com/energy/japan-holds-new-oil-reserve-release-despite-september-import-drop

2026-08-26 23:40:00 UTC

Iran Says Persian-Language Media Outlets 'Funded By CIA' Are Military Targets
Iran Says Persian-Language Media Outlets 'Funded By CIA' Are Military Targets
One key tool Washington has long utilized for influence operations and covert regime change plotting abroad has long been the establishment of foreign media for political messaging.
The idea is that a foreign language satellite news channel gets presented as 'independent' while in reality it beams propaganda onto a unsuspecting population within a so-called 'rogue' state being targeted by the US.
For example, WikiLeaks previously revealed that https://wikileaks.org/clinton-emails/Clinton_Email_January_7_Release/C05780999.pdf in such projects to bolster anti-Assad forces and sentiment in the context of last decade's proxy war in Syria.
Currently, Iran says it is fully aware of several Persian-language media outlets which are subversive, given they have the backing of the US, UK, or Israeli governments, or others like Saudi Arabia.
https://cms.zerohedge.com/s3/files/inline-images/iraninn.jpg?itok=Px8SmhQr
The AFP in a Wednesday report has said Iranian state media has newly called out the following as hostile propaganda https://today.lorientlejour.com/article/1545690/iran-says-persian-language-media-outlets-abroad-on-military-target-list.html:
- BBC Persian
- Iran International
- Radio Farda
An Iranian military spokesman has said these have been added to the armed forces' "military target bank" - putting the outlets on notice that their offices and infrastructure could come under attack.
"These hostile media outlets are the soldiers of Zionism and America and are included in our military target bank," military spokesman Abolfazl Shekarchi announced.
He charged that they are "directly connected to Mossad, CIA and enemy intelligence organizations." He emphasized: "The Iranian Armed Forces do not view these news outlets as media."
And interestingly, per https://today.lorientlejour.com/article/1545690/iran-says-persian-language-media-outlets-abroad-on-military-target-list.html: "Iran has designated Iran International as a terrorist organization since 2022 and has warned that cooperation with the channel is punishable under Iranian law."
Earlier in the Iran war, https://www.zerohedge.com/geopolitical/iranian-opposition-news-site-got-800bn-debt-relief-report which pointed out that Iran International calls itself the "most popular Persian speaking foreign based news channel in Iran".It employs 700 people and broadcasts into Iran from London via satellite, radio and social media outlets.
Iran International has been accused by critics of promoting “regime change” in Iran and advancing the position of the former shah’s son, Reza Pahlavi, for a return to power. The outlet has long denied links to Israel or Saudi Arabia. The outlet reported heavily on protests that struck Iran at the beginning of this year, sparked by a cost-of-living crisis brought on, in part, by US sanctions.
In January 2025, the news site reported that more than 36,500 people were killed in a crackdown on protests. Those numbers were https://www.nytimes.com/2026/01/25/world/middleeast/iran-how-crackdown-was-done.html than those estimated by the US and other western-based human rights groups.
US President Donald Trump cited casualty numbers similar to those reported by Iran International https://www.cbsnews.com/news/donald-trump-iran-protest-crackdown-death-toll/ launching a war on Iran on February 28, but did not disclose where he had gotten the death toll number.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 19:40
https://www.zerohedge.com/geopolitical/iran-says-persian-language-media-outlets-funded-cia-are-military-targets

2026-08-26 23:15:00 UTC

India's Crude Import Bill Surges As Hormuz Shipping Rates Soar
India's Crude Import Bill Surges As Hormuz Shipping Rates Soar
https://oilprice.com/Latest-Energy-News/World-News/Indias-Crude-Import-Bill-Surges-as-Hormuz-Shipping-Rates-Soar.html,
India's crude oil import bill has soared since the Iran war choked Middle Eastern oil supply, raised benchmark crude prices, quadrupled freight rates, and boosted insurance on a single Strait of Hormuz voyage to never-before-seen highs.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-25_4oehuescg3.jpg?itok=yDNKv65A
India has been paying elevated prices to import Middle Eastern crude not only because of the spike in oil prices, but also due to the surging costs to bring supply from the nearest region from which it can import crude.
The freight rates on the key route from Ras Tanura on Saudi Arabia's Persian Gulf to India have soared by more than 400% since February 28, when the war began, and Iran closed off the Strait of Hormuz. The rate for shipping crude on a very large crude carrier (VLCC) from Ras Tanura to India surged by 411% to $4.34 a barrel in August, from just $0.85 per barrel before the war, according to data compiled by Indian outlet https://www.financialexpress.com/policy/economy-hormuz-squeeze-hits-crude-freight-bill-4324606/.
The cost of shipping non-Middle Eastern cargoes has also soared amid a spike in demand for barrels not needing the Strait of Hormuz to reach India. The Corpus Christi-India freight rates have jumped by 150% to $15.86 a barrel from $6.35 a barrel pre-war, while the cost to transport crude oil from Russia's Ust-Luga port on the Baltic Sea on Suezmax tankers has more than doubled to $19.90 a barrel from $8.40 per barrel in February.
War-risk insurance has also jumped from a quarter of a million U.S. dollars for a Hormuz voyage before the war, to up to $10 million for a single passage through the chokepoint now.
The soaring shipping and war-risk insurance costs add to already high prices of India's imports as https://cms.zerohedge.com/oil-price-charts/#Brent-Crude have risen by about 25% since the Iran war began, with spikes into the $100s on several occasions.
India paid https://cms.zerohedge.com/Latest-Energy-News/World-News/Indias-Crude-Oil-Import-Bill-Soars-60-as-Iran-War-Drives-Prices-Higher.html in the April-June quarter compared to the same period last year, as the surge in oil prices couldn't offset slightly lower import volumes.
The rise continued into the beginning of the third quarter, with the July import bill https://www.thehindu.com/business/Industry/indias-crude-import-bill-surges-41-in-july-amid-west-asia-crisis-volumes-up-13/article71361781.ece from a year earlier.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 19:15
https://www.zerohedge.com/energy/indias-crude-import-bill-surges-hormuz-shipping-rates-soar

2026-08-26 22:50:00 UTC

Activist Obama Judge Bends The Knee, Lifts Block On Trump's Mail-In Ballot Restrictions After USSC Ruling
Activist Obama Judge Bends The Knee, Lifts Block On Trump's Mail-In Ballot Restrictions After USSC Ruling
A federal judge in Massachusetts on Wednesday lifted her own order blocking the postal service from implementing election integrity measures for mail-in ballots.
https://cms.zerohedge.com/s3/files/inline-images/indira-talwani-_80.jpg?itok=FJOvKAXD
US District Judge Indira Talwani issued the block after the League of Women Voters challenged proposed USPS rules that said states had to provide a list of voters who are eligible to receive mail-in ballots, and had to get their ballot designs pre-approved. Talwani's decision comes after the Supreme Court overturned a similar block by the same judge in a separate case brought by multiple states.
According to the judge, although the plaintiffs have "substantial arguments that might persuade the Supreme Court to reach a different result," the USSC's decision on Monday "compelled" her to agree to the government's motion to reconsider the block.
Ruling on Talwani's other case, the Supreme Court said she erred by blocking the USPS rules before they had been finalized, and before the states had sufficiently shown that they would be harmed by it. Days before the USSC issued that decision, however, the USPS issued finalized rules on Aug. 21, which led Talwani to declare that USPS had violated her order in the League of Women Voters case.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281091%29.jpg?itok=k1baowbu
As the Epoch Times notes further, USPS officials said finalizing the rules didn’t violate Talwani’s order, because the agency promised not to implement it for the 2026 election unless the court orders were lifted.
“These arguments ignore the court’s explicit directive not to ‘initiat[e] or complet[e]’ rulemaking,” Talwani countered. “And Defendants cannot contend that they misunderstood the scope of the court’s order.”
The League of Women Voters asked Talwani to enforce her own order by declaring the new USPS policy “has no force or effect with respect to any federal election on or before November 3, 2026.”
Talwani declined to make such a declaration or to penalize the government. She noted in her ruling that USPS’s decision to finalize the new policy, despite her order, may end up helping the plaintiffs in the case.
Since the rules are finalized, she said, the plaintiffs can amend their lawsuit and file again. And this time, the government cannot argue that the new rule is only “hypothetical.”
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 18:50
https://www.zerohedge.com/political/activist-obama-judge-bends-knee-lifts-block-trumps-mail-ballot-restrictions-after-ussc

2026-08-26 22:00:00 UTC

Another Major Russian Refinery Up In Flames As Diesel Nears Historic Highs
Another Major Russian Refinery Up In Flames As Diesel Nears Historic Highs
On Wednesday Ukrainian forces struck a Wildberries facility deep inside of Russian territory for the second time this summer.
The warehouse in the central Tambov region city of Kotovsk was first targeted in July, but this time the large complex has been "completely" destroyed in the resulting fire, Governor Yevgeny Pervyshov https://t.me/PervyshovEA/4774.
https://cms.zerohedge.com/s3/files/inline-images/kotovsk.jpg?itok=61dqL-Z3
The city's mayor, Alexey Plakhotnikov, https://www.rbc.ru/rbcfreenews/6a8e713604dd5d5feb822dc5?utm_referrer=https%3A%2F%2Fwww.google.com%2F on social media that "A massive fire at the Wildberries warehouse complex, smoke and smog are quickly spreading throughout the city."
He urged residents to shelter in place as a massive black cloud of smoke has reached high into sky, and enveloped the city and its environs.
"To avoid carbon monoxide poisoning and combustion products, I strongly urge you to refrain from active movement around the city for the next two days. Keep your windows and balconies closed," he https://www.rbc.ru/rbcfreenews/6a8e713604dd5d5feb822dc5?utm_referrer=https%3A%2F%2Fwww.google.com%2F.
Regional media recounts of the same site, "The Ukrainian Armed Forces previously attacked the Wildberries logistics center in Kotovsk. On July 18, seven employees were killed and 23 more were hospitalized."
At this point over a dozen key Wildberries logistics hubs have been hit. The online retailer is considered to be the Amazon of Russia, but Ukraine has argued it is assisting the Russian military with supplies and so is fair game for targeting. The latest overnight drone onslaught across Russia killed three people overnight.
Ukraine also https://kyivindependent.com/major-russian-oil-refinery-in-flames-after-drone-strike-locals-say/ Russia's NORSI oil refinery in Kstovo, Nizhny Novgorod region in the overnight attack. It is a Lukoil refinery that is one of the most important in Russia, and Ukraine's military https://kyivindependent.com/ukraine-war-latest-drone-strike-sparks-fire-at-major-russian-oil-refinery-general-staff-says/ it is now up in flames.
President Zelensky is vowing to keep up these punishing long-range drones strikes, but also as residents of the Ukrainian capital brace for potential Russian ballistic missiles.
Regional unconfirmed reports say the Norsi complex has suffered a forced shut down as diesel prices soar near all time highs. DropSite News reviews of thehttps://x.com/DropSiteNews/status/2092693434578637202:
- Ukraine’s General Staff said its forces struck Lukoil’s Kstovo (NORSI) refinery in Russia’s Nizhny Novgorod region about 250 miles east of Moscow.
- It is Russia’s 4th-largest oil refinery and 2nd-largest gasoline producer, and can process roughly 125 million barrels annually, or about 320,000–340,000 barrels per day. The strike sparked a fire and forced the refinery to suspend crude oil processing, according to Reuters.
- U.S. retail diesel prices meanwhile have surged near historic highs, reaching a national average of $5.62 to $5.65 per gallon.
- Prices jumped by 20 cents per gallon this week alone, driven by a global supply crunch linked to the Middle East conflict and refinery disruptions there and in Russia.
- Current diesel prices are nearly $2.00 per gallon higher than they were at this time last year.
While there's still https://www.newsquawk.com/headlines/russias-norsi-oil-refinery-reportedly-halts-operations-following-earlier-drone-attack of the Norsi refinery attack and destruction, videos like the below have been spreading quickly online:
🔥 15 to 17 million metric tons.
That's the annual crude throughput at Lukoil's NORSI refinery in Kstovo, Nizhny Novgorod Oblast, which is now burning after local Telegram channels and residents reported an air raid alert, drones overhead, and then a drone strike overnight.… https://t.co/t5kwRxEbGA
— Jack Prandelli (@jackprandelli) https://x.com/jackprandelli/status/2092557049011859549?ref_src=twsrc%5Etfw
"The war must return to where it came from. Ukraine responds to Russian strikes, and we do so in a way that ensures the cost of the war for the aggressor inevitably rises." Zelensky https://x.com/ZelenskyyUa/status/2092539171655094333 in a post on X.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 18:00
https://www.zerohedge.com/energy/another-major-russian-refinery-flames-diesel-near-historic-highs

2026-08-26 21:40:00 UTC

Israel Developing Offensive Space Capabilities
Israel Developing Offensive Space Capabilities
https://news.antiwar.com/2026/08/25/israel-developing-offensive-space-capabilities/,
https://www.jpost.com/defense-and-tech/article-906421 is currently prepared to begin development of offensive space capabilities, including systems designed to defend Israeli satellites from hostile spacecraft, and weapons (including https://www.jpost.com/defense-and-tech/article-900854) capable of striking targets from space.
https://cms.zerohedge.com/s3/files/inline-images/Israelspacelazer_80.jpg?itok=Rx2auLhl
It is part of the Defense Ministry's multiyear budget plan for the space sector, which will include upgrading and expanding IDF (Israel Defense Forces) intelligence and communications capabilities. The plan will also dedicate a budget to support offensive space operations, which will focus on weapons designed to protect Israeli satellites as well as weapons designed to strike targets on Earth.
Defense Minister Israel Katz https://www.jpost.com/israel-news/article-900557 earlier this summer about Israel's commitment to becoming the world leader in space-attack capabilities, a realm of warfare that has experienced a https://www.jpost.com/defense-and-tech/article-900566 in Israeli military interest given its extensive https://www.jpost.com/israel-news/defense-news/article-866153 for intelligence gathering in Iran.
"One of the central goals that the prime minister [Benjamin Netanyahu] and I set is that we are recruiting the best minds," he said. "As of today, no country has the ability to mount attacks in space. We must be the leading country in the world with this capability."
"If we achieve this, it will ensure the advantage of deterrence, of the ability to attack, destroy, and all of the other matters versus our enemies with large resources."
Global space warfare development has been on the rise in recent years, and some speculate that Israel's recent activity is an effort to catch up with China and Russia, who have been https://www.cnn.com/2025/03/16/politics/pentagon-monitoring-russia-china-space. US President Donald Trump has also expressed his desire for America to do the same, by signing https://www.whitehouse.gov/presidential-actions/2025/12/ensuring-american-space-superiority/, "Ensuring American Space Superiority."
However, experts warn that Israel and others' offensive space weapon programs have increased https://armscontrolcenter.org/fact-sheet-space-weapons/. Satellite miniaturization, falling launch costs, and the commercialization of the space industry have also allowed more countries to create their own space programs, and not all of them are peaceful. Furthermore, space weaponry not only threatens satellites and other non-military technologies operating in space, but the growing prevalence of and reliance on the latter will make https://www.ll.mit.edu/r-d/projects/space-systems-cyber-resiliency all the more dangerous.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 17:40
https://www.zerohedge.com/political/israel-developing-offensive-space-capabilities

2026-08-26 21:20:00 UTC

Chinese Hackers Broke Into NASA, Federal Reserve, DOJ & Senate: FBI Announces
Chinese Hackers Broke Into NASA, Federal Reserve, DOJ & Senate: FBI Announces
The United States Department of Justice has on Wednesday announced US authorities thwarted a major state-sponsored hack which saw a temporary intrusion into NASA, the Federal Reserve, Senate, the DOJ, Department of Energy, and the Department of Health and Human services, along with four unnamed companies in the US and South Korea.
"Today we announced the disruption of a global botnet and hacking platform used by Chinese state-sponsored hackers to target U.S. critical infrastructure," said FBI Director Kash Patel.
"These tools were used by PRC cyber actors to hide the origin of their attacks. Thanks to the work of FBI San Diego, FBI Cyber Division, and DOJ partners, we seized adversary infrastructure and shut these platforms down," he added.
https://cms.zerohedge.com/s3/files/inline-images/chinahack_0.jpg?itok=cHjwmA91
Domains utilized by two hacking platforms identified as "QScan" and "QTRouter" were seized by the DOJ in the large scale counter-cyberespionage operation.
Describing a pervasive botnet which was ultimately believed to be backed by Chinese state actors, https://www.wsj.com/tech/cybersecurity/fbi-shuts-down-sprawling-china-linked-hacking-network-61eade59 details that the "goal was to blend in with legitimate networking traffic, making the hacking activity hard to trace, federal officials say."
"The group exploited software vulnerabilities to launch cyberattacks against U.S. government agencies, power companies and hospital systems, and operated a worldwide network of hacked devices—known as a botnet—to conduct its hacking campaigns, according to Brett Leatherman, the Federal Bureau of Investigation’s top cyber official," WSJ continues.
As for the specific allegation that this had state backing, the DOJ press release https://www.justice.gov/opa/pr/justice-department-and-fbi-seize-platforms-operated-and-used-china-state-sponsored-hackers:
People’s Republic of China (PRC) state-sponsored group known as “QTFY,” employed by China-based Nanjing Xinjiuwei Network Technology Company, created and operated QScan and QTRouter.
The DOJ announcement additionally outlines efforts at concealment and 'plausible deniability' in the following:
QTRouter consists of these compromised IoT devices, as well as commercial proxy service devices and leased virtual private servers. QTRouter then serves as an “obfuscation network” – meaning it allows QTFY and other malicious cyber actors to conceal the PRC-origin of their computer intrusion activities because the malicious communications appear to originate from computers (such as those compromised by QScan) that are outside of the PRC and may even be local to the targeted networks. Because the seized domains were hard-coded into both the QScan and QTRouter malware and used for essential tasks such as communication and authentication, the court-authorized seizures made QScan and QTRouter inoperable.
Neither Beijing's foreign ministry nor the Chinese embassy in Washington have officially responded to the allegations, and as has been the pattern in the past is likely to reject the US charge altogether.
Earlier this year Google was among those https://www.zerohedge.com/technology/google-warns-chinese-and-russian-hackers-are-targeting-us-defense-companies of imminent stepped-up Chinese and Russian targeting of US defense companies.
Google's prior report seemed to preview some of the techniques on display in this latest hack. The report cited observations of "more China-nexus cyber espionage missions directly targeting defense and aerospace industry than from any other state-sponsored actors over the last two years."
US imposes new sanctions on China by September 30?
Yes 21% · No 80%
https://polymarket.com/event/us-imposes-new-sanctions-on-china-by-september-30"But the hallmark of many operations has been their exploitation of edge devices to gain initial access," it said, referring to hardware components positioned at the edge of a network. "We have also observed China-nexus threat groups leverage ORB networks for reconnaissance against defense industrial targets, which complicates detection and attribution."
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 17:20
https://www.zerohedge.com/geopolitical/chinese-hackers-broke-nasa-federal-reserve-doj-senate-fbi-announces

2026-08-26 21:00:00 UTC

You Know Things Are Bad When This Has To Be Referred To The DOJ...
You Know Things Are Bad When This Has To Be Referred To The DOJ...
https://modernity.news/2026/08/24/you-know-things-are-bad-when-this-has-to-be-referred-to-the-doj/,
Texas Governor Greg Abbott is escalating the fight against what he calls discriminatory religious facilities at two of the state's busiest airports.
https://cms.zerohedge.com/s3/files/inline-images/feetmod.jpg?itok=Z2mGSuTv
After DFW Airport scrapped plans for more Islamic ablution stations under pressure, Abbott has referred both Dallas-Fort Worth International Airport and Houston's George Bush Intercontinental Airport to the U.S. Department of Justice, demanding investigation and corrective action over existing foot-washing stations and an adjoining prayer room.
"These ablution stations single out one subset of the population for special treatment based on religion," Abbott said. "They are not interfaith chapels open to all. They exist to benefit the Muslim population alone. Government-owned airports cannot favor one religion over all others."
? JUST IN: TX Gov. Greg Abbott has referred Islamic foot washing stations at Dallas-Ft. Worth and Houston Airports to the DOJ for INVESTIGATION and ENFORCEMENT
Abbott calls the wudu stations "DISCRIMINATORY"
"These ablution stations single out one subset of the population for... https://t.co/YQAAtmEuWY
— Nick Sortor (@nicksortor) https://x.com/nicksortor/status/2090881937581789470?ref_src=twsrc%5Etfw
In his letter to Attorney General Todd Blanche and Assistant Attorney General Harmeet Dhillon, Abbott noted that DFW has two such stations already operating and that IAH installed one facility plus an interconnecting prayer room stocked with copies of the Quran, prayer rugs, prayer beads, and a turbah.
He previously referred the airports to Transportation Secretary Sean Duffy, directed a review of state grants for possible revocation, and warned that if the facilities sit on city-owned property, Texas will pursue litigation for religious discrimination at taxpayer-funded sites.
"Airports can no more offer Muslim-only bathroom spaces than they can maintain white-only bathrooms," Abbott wrote. DFW abandoned plans for additional stations in Terminal D after the initial threat. Airport officials said they accelerated review due to public attention and determined the anticipated benefits might not materialize.
?Here Are The Ritual Muslim Foot Washing Stations Inside the Dallas Ft. Worth Airport...
Yes, they are real, this is not fake news.
I'm at DFW right now and went to the interfaith chapel near Gate D40. Two massive showers greet you when you enter the small chapel. But they're... https://t.co/xkpXNaauOl
— Benny Johnson (@bennyjohnson) https://x.com/bennyjohnson/status/2090516363273969873?ref_src=twsrc%5Etfw
Houston Mayor John Whitmire defended the IAH facilities, saying they are open to all travelers regardless of faith and were funded by fees from international airlines rather than direct taxpayer grants.
Critics of Abbott's move, including the Texas chapter of CAIR, called it an anti-Muslim political stunt. Abbott and Texas leaders frame the issue differently: government-owned airports receiving public and federal funds cannot create spaces designed around one faith's ritual requirements while ignoring others.
This latest action fits a clear pattern of pushback against what many Texans see as the steady advance of parallel Islamic institutions and preferential accommodations across the state.
Residents in McKinney recently packed City Hall and voiced fierce opposition as the council approved a major expansion for the McKinney Islamic Association. The 5.5-acre site plan includes a large sanctuary, classroom building, and gym.
More than 150 speakers signed up for the marathon session that stretched past midnight. An Iranian Christian refugee told the council, "I'm a Sharia law survivor from Iran, and I'm here to tell you, this is a dangerous ideology you're allowing in the country."
U.S. Rep. Keith Self warned of risks including child marriage and honor killings under political Islam, stating the freedom to choose one's faith "does not exist in political Islam." The council still voted 7-0 to approve after staff confirmed the plan met zoning rules.
Public schools have also drawn outrage. Students from Humble ISD's Kingwood High School and Atascocita High School were bused to Centro Islamico, operated by IslamInSpanish in the Houston area, so they could "experience Islam."
The visit included a tour, halal lunch, observation of prayer, and presentations. Parents and online commentators noted the absence of similar taxpayer-funded trips to churches or other houses of worship, calling the episode one-sided indoctrination.
Congressman Keith Self has repeatedly highlighted existing Muslim-only enclaves operating as parallel societies. He pointed to the East Plano Islamic Center, which has functioned for years adjacent to police facilities, and a similar pattern in Irving.
"Sharia is alive, well, and operating in Plano, Texas," Self said. "This is not a hypothetical or future threat. It is here, now and operational."
NEW: 'Muslim City' in Texas gets legal win after a judge ordered that the state must comply with developers.
The East Plano Islamic Community (EPIC), which has now been rebranded to The Meadow, will feature 1,000 homes, a mosque, schools, and more.
Texas leaders are worried... https://t.co/HoSvNeV307
— Collin Rugg (@CollinRugg) https://x.com/CollinRugg/status/2049892064972988808?ref_src=twsrc%5Etfw
He described these as de facto Sharia enclaves situated next to the law enforcement facilities meant to protect communities, calling the proximity a form of intimidation.
Texas authorities have also moved against unauthorized institutions. The Texas Higher Education Coordinating Board, at Abbott's direction, issued a cease-and-desist order to Texas American Muslim University (TexAM) in the Dallas area.
The school was operating without required state approval, marketing degree programs that included mandatory Islamic studies courses, and using the term "university" illegally.
Abbott stated Texas will not allow illegal educational institutions to operate and that legal action would follow noncompliance.
Taxpayer-funded venues have faced similar scrutiny. Epic Waters Indoor Waterpark in Grand Prairie, built with public sales tax money, advertised a private Eid event initially promoted as "Muslim only," complete with modest dress codes, halal options, and a prayer room.
After backlash the language was softened, but the episode reinforced concerns that public facilities were being reserved for exclusive religious use.
Taken together, the airport ablution stations, school field trips, city council approvals, unauthorized schools, exclusive events, and residential developments form a consistent picture.
Abbott's referral of the airports to the DOJ is the latest concrete step to enforce the principle that government facilities and public money cannot favor one religion. Texas under Abbott continues to treat equal application of the law as non-negotiable, rejecting special privileges that create two-tier systems on public property.
Your support is crucial in helping us defeat mass censorship. Please consider donating via https://pauljosephwatson.locals.com/support or check out our unique https://modernity.news/shop. Follow us on X https://x.com/modernitynews.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 17:00
https://www.zerohedge.com/political/you-know-things-are-bad-when-has-be-referred-doj

2026-08-26 20:20:00 UTC

Don't Trust The Midterm Polls
Don't Trust The Midterm Polls
https://www.theepochtimes.com/opinion/dont-trust-the-midterm-polls-6079323?utm_source=partner&utm_campaign=ZeroHedge,
This is a lightly edited transcript of an Aug. 24 segment of the "Victor Davis Hanson: In His Own Words" podcast.
Let's have a periodic check on the status of the midterms that we're now less than 80 days away from. The Democrats are riding high. They feel that historical trends, i.e., 39 out of the last 41 midterms, the party in the White House loses seats, and there's not very many seats Republicans can afford to lose, and they may lose the House and Senate.
They're already, I guess you'd call it, measuring their drapes, but in the sense that they're already explaining how they're going to go after the Trump family, the Trump family associates, cryptocurrency concerns, any hangers-on, people going to the Middle East and investing. They're gonna open it wide open.
These are the people, of course, who never investigated the Biden family or Hunter Biden. That's no excuse if there's culpability, but nonetheless, you can count on a two-year investigation of Donald Trump and a never-ending impeachment inquiry, and the end of the MAGA agenda should he lose the House and the Senate.
Donald Trump is strangely confident. He now has finally hit on a strategy that he feels will work. Earlier, I called it the "Anaconda Strategy," the idea that he is squeezing a debilitated Iran. In other words, the kinetic 40 days of bombing have left the nuclear military-industrial complex in shambles.
And this time, he's not just blockading, he's not just having an embargo on goods. He is not just freezing the bank accounts of Iranian grandees. He's not just debanking the entire country. He's https://www.dailysignal.com/2026/08/24/treasury-sec-economic-d-day-iran/ and saying, "You and China and Russia and Europe have been trading with this country even while we were bearing the burden of defanging a potential nuclear renegade nation, and we're going to isolate you. We're not gonna do business with you if you do business with Iran."
And the Iranians now are crying foul. They're saying we're colonialists. But what I'm getting at, after all that military damage from Feb. 28 for the next 40 days, and after all the blockades, they're not able to withstand a renewed squeezing.
And so, time is actually on our side.
The second part of this strategy is Donald Trump has now put the war on the back burner. He is saying that we don't need to have ground troops. We might not even go in and bomb them again unless they egregiously attack an ally of ours or one of our carriers or ships.
We have managed it now. The strait is mostly open, and whatever the status of the nuclear stockpile or enriched uranium of the theocracy, it's pretty clear they can't get at it.
Hamas, the Houthis, and Hezbollah don't seem to be getting money. They don't seem to have enough rockets to threaten the Gulf States or Israel, at least to get through their missile defenses.
And so, we're just going to concentrate, Trump thinks, on the economy.
So, what he is doing now is he and JD Vance are https://www.dailysignal.com/2026/08/24/jd-vance-ohio-figures-give-rousing-middletown-speech-on-manufacturing-investments/, and they're starting to make headway. They're not worried about the polls that show a generic 7 percent Democratic advantage and betting odds and polls that say they're gonna lose the House because they looked at the recent primaries.
Abdul El-Sayed, the Democratic candidate for the Democratic senatorial seat in Michigan, was polling ahead 10 points, and he scarcely won by a point and a half.
Francesca Hong, the Wisconsin Democratic candidate for governor, was polling ahead 10 or 15 or 20 points. She lost and lost handily.
Mr. [Alexander] Vindman, who was running for Senate in Florida, was polling ahead. He lost to Ms. [Angie] Nixon, a democratic socialist.
So, what I'm getting at is the polls are worthless. And what we need to look at is what the status is right now.
The war is starting to wane. If it should end or if the Iranians crack in the next 60 to 70 days, that would be a spectacular achievement that Donald Trump - you know, we've tragically lost 17 Americans - but at a tolerable cost in blood and treasure, he ended a 50-year problem that seven presidents said was existential.
You could not allow Iran to have a nuclear weapon, and the pressure that he's put on them and the damage he's inflicted would probably, in the next year or two, prompt a renewal of internal opposition against a theocracy that is bleeding.
The second thing to remember very carefully is, as I said earlier, the redistricting, the red state redistricting and the Supreme Court prohibition on racial gerrymandering might give him an additional four or five seats.
But the most important developments are money and the agenda of the new Democratic Party.
Very quickly, Donald Trump has got a war chest of about $400 million, and he's now going to use it.
He says he's going to use it all in his political action committees to help save the Republicans in the midterms.
Elon Musk said that he is going to match dollar for dollar the Democratic oligarchic class that if they start to donate in great amounts to Democratic candidates.
So, the money issue probably favors also, like, the redistricting and maybe the course of the Iran war that could wane and be not an issue.
But the most important thing to conclude is the Democratic Party. No one thought that the Democratic socialists would ever try to absorb and even seem to succeed in absorbing the Democratic Party. I mean, Nancy Pelosi, Hakeem Jeffries, Chuck Schumer, they've all said they have no problem with the Democratic socialists.
It's a big tent party, and they're going to help them win their seats.
But the problem is, once you have the money and the effort and the attention, and you show what the democratic socialists are, like, defunding the Pentagon, defunding the police, opening the border, mass amnesties, warring on fossil fuels, isolationist foreign policy, the transgender issue reopened with biological men now by statute free to compete in women's sports. I could go on and on.
They even want to destroy the Senate and the Electoral College, not to mention packing the Supreme Court, ending the filibuster, and bringing in new seats in the Senate by admitting new blue states such as Washington, D.C., and Puerto Rico.
And so, what I'm getting at is, the more we learn about the democratic socialists, and the more that the Democratic Party feels they've already taken over the apparatus of the party and they're going to join them, or at least they're not going to oppose them, they're gonna be culpable or responsible for what these people say.
And they're saying all sorts of stuff, not just anti-Semitic venom, not just anti-Israel venom, but questioning the very legitimacy of the United States government, the way that our Founders created a legislative, judicial, and executive branch, the Declaration of Independence. Our entire traditions, they're saying, are flawed at their origins.
They got worse during our maturity, and now they're god-awful right now. That's not a winning message.
So, the midterms are very much up in the air.
Contrary to historical precedent, there's still a chance that the Republicans can save both the Senate and the House.
We publish a variety of perspectives. Nothing written here is to be construed as representing the views of ZeroHedge.
/users/tyler-durden
Wed, 08/26/2026 - 16:20
https://www.zerohedge.com/political/dont-trust-midterm-polls

2026-08-26 19:25:00 UTC

Secret Service Aware Of Iranian Video Threat Against Barron Trump
Secret Service Aware Of Iranian Video Threat Against Barron Trump
https://www.theepochtimes.com/us/secret-service-aware-of-iranian-video-threat-against-barron-trump-6079513?utm_source=partner&utm_campaign=ZeroHedge,
The U.S. Secret Service confirmed on Aug. 25 it is aware of a video aired by Iranian state-run media that appears to threaten President Donald Trump's youngest son, Barron, and places a $10 million bounty on him.
https://cms.zerohedge.com/s3/files/inline-images/baronTa.jpg?itok=238avdeb
"The U.S. Secret Service is aware of the video and investigates anything that can be perceived as a threat toward our protectees," spokesman Nate Herring told The Epoch Times in an email. "Out of concern for operational security, we do not discuss matters of protective intelligence."
The three-minute video that first aired Aug. 24 alleges Trump's 20-year-old son is being monitored.
The video, titled "Where and how should we kill Barron Trump?" was produced by media entities affiliated with the Islamic Revolutionary Guard Corps (IRGC) and broadcast on Channel 3 of Iranian state television.
The clip shows the location of the university he attends, along with maps of the school. It also depicts security vehicles that drive him around. The clips also allege Barron Trump's movements have been monitored.
The Epoch Times reached out to the university about the video and didn't immediately receive a response about whether any additional security measures have been taken.
The video also claims Barron Trump communicates through voice-to-text on a gaming platform and mentions Trump Tower, where he is known to stay.
The broadcast also claims Barron Trump's gaming accounts have been located and allegedly names a couple of his friends.
Statements in the video appeared to taunt and intentionally terrorize Barron Trump and the president's family. The Epoch Times has not been able to verify whether claims made in it are legitimate.
This is the second broadcast by the Iranian regime to threaten Barron Trump.
An IRGC-affiliated news agency also broadcast a similar video in July threatening First Lady https://www.theepochtimes.com/us/secret-service-probes-iran-linked-video-calling-for-melania-trumps-assassination-6068188?utm_source=partner&utm_campaign=ZeroHedge It claimed to have information on her security detail, her movements and alleged security vulnerabilities.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281087%29.jpg?itok=3lNK7Kzm
At the end of the July video, the narrator says: "This is just the beginning. Barron Trump, wait for us."
The video that was broadcast this week ends with the same statement.
Since the start of the war against Iran, and the assassination of Iran's Ayatollah Ali Khamenei, Iranian media have issued several articles and statements threatening the lives of President Trump and his family members.
The White House referred questions about the threats against the Trump family to the Secret Service.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 15:25
https://www.zerohedge.com/political/secret-service-aware-iranian-video-threat-against-barron-trump

2026-08-26 19:05:00 UTC

Putin To Escalate Ukraine War In Wake Of CIA Chief's Visit, Report Speculates
Putin To Escalate Ukraine War In Wake Of CIA Chief's Visit, Report Speculates
Update1505ET: In the wake of yesterday's unusual visit by the Director of the CIA to Moscow for mystery 2-hour talks, Bloomberg says that President Putin is preparing for a major escalate against https://www.bloomberg.com/news/articles/2026-08-26/putin-moves-to-escalate-war-in-ukraine-with-talks-at-dead-end:
Russia is preparing to escalate attacks on Ukraine after concluding that negotiations for a peace deal have reached a dead end, according to three people close to the Kremlin.
For now, Russia is weighing an intensification of powerful conventional ballistic missile attacks on Kyiv, including the center of the capital, and infrastructure targets in other Ukrainian cities, the people said, asking not to be identified because the matter is sensitive.
While the original Bloomberg TV reporting appears just speculation based on what already seemed the current trend on the ground, oil had climbed back on the news:
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_11-54-33.png?itok=bMLdeqZ5
* * *
An IRGC spokesman has announced Wednesday that Iran and Oman have reached agreements on their share of the Strait of Hormuz and its revenues, according toTasnim news agency. So essentially the "fee" scheme has been set. There's talk of reopening the strait on an "interim" basis, Bloomberg says.
"We entered into negotiations with Oman about a month ago and have reached results that have been accepted by both sides," the official https://www.aljazeera.com/news/liveblog/2026/8/26/iran-war-live-iran-says-hormuz-remains-closed-despite-oman-rout-deal?update=4886313. "Agreements have been reached on the share of each country in the waters of the strait and the share of Iran and Oman in its revenues," the statement continued, while also alleging that negotiations were previously delayed only due to the US obstructing negotiations.
https://assets.zerohedge.com/s3fs-public/inline-images/boatsstrait.jpg?itok=vkAs1mWG
Tehran is still insisting on the United States lifting its naval blockade of the country's ports. However, it seems that for now at least Tehran is open to some level of negotiations, or at least seems content to see where this current period of rare calm leads.
This is evident in the latest words of Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who argued Wednesday that any negotiations with the US don't equate to retreat from Iran's demands.
"Negotiation, in my view, has neither intrinsic value nor is it a taboo; it is neither absolutely good nor absolutely evil," he https://www.aljazeera.com/news/liveblog/2026/8/26/iran-war-live-iran-says-hormuz-remains-closed-despite-oman-rout-deal?update=4886313 in a letter responding to more hardline critics, IRNA reports.
He insisted this does not mean abandoning resistance to US-Israeli aggression. "If necessary, dialogue, too, according to this logic, is the same arena of struggle and resistance; neither a replacement for it nor a sign of retreat from it," he said.
Ghaliban further suggested this is being done by the Islamic Republic from position of strength while holding on to the nation's "dignity, wisdom and interests."
Meanwhile, it seems Washington is also in no mood to rush back into military action, following the Monday announcement by Scott Bessent of the Economic D-Day action against Iran, which is to including secondary sanctions on any country found not complying.
On Wednesday, Secretary of State Marco Rubio told several foreign officials in recent days that "for the time being" the US is not planning to initiate any new strikes against Iran, but instead the focus is on other means of pressure, especially the sanctions initiative, Axios reports. According to https://www.axios.com/2026/08/25/rubio-iran-war-hormuz-oil:
- The U.S. official said that while Rubio made clear that the U.S. isn't planning a return to major combat operations, he didn't rule out https://www.axios.com/2026/07/29/us-airstrikes-iran-trump-resume if Iran attacks first.
- Another U.S. official said the https://www.axios.com/2026/08/25/hormuz-mines-remove-oil-iran-trump from the Strait of Hormuz by the U.S. Navy is a watershed moment in the war, largely neutralizing one of Iran's main sources of leverage.
Also on Wednesday, Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi confirmed their further work on the “interim framework” aimed at resuming shipping through the Strait of Hormuz, according to a joint statement.
State television has indicated Iran and Oman agreed that the new transit corridor would enter through Iranian territorial waters, with part of the exit route also passing through them. The corridor will span roughly seven miles.
On this and other headlines, oil prices continue to fall...
- Oil extends declines as Iran, Oman continue finalizing talks to reopen Hormuz
- Satellite image shows surge in Iraq’s Persian Gulf oil loadings
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_06-07-00.jpg?itok=afICVeSs
A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran.https://x.com/hashtag/OOTT?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/IranWar?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/Tankers?src=hash&ref_src=twsrc%5Etfw https://t.co/TAba26mJiW
— TankerTrackers.com, Inc. (@TankerTrackers) https://x.com/TankerTrackers/status/2092328933739864323?ref_src=twsrc%5Etfw
The day prior, on Tuesday, President Trump hinted that military options are still on the table. While announcing the new claim that all mines had been detonated or removed from international waters of the Strait of Hormuz, he said the US Space Force was watching "every square inch" of the Strait, and that "There is ⁠a Zero Tolerance policy ‌on mine ‌placement in full force and effect." But Iran is https://www.arabnews.com/node/2655870/middle-east asserting that the strait remains "closed".
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 15:05
https://www.zerohedge.com/energy/oil-extends-decline-rubio-rules-out-new-strikes-iran-oman-transit-deal-nears-finalization

2026-08-26 19:05:00 UTC

Coinbase CEO Considers Joining California Exodus Over "Deeply Un-American" Wealth Tax Proposal
Coinbase CEO Considers Joining California Exodus Over "Deeply Un-American" Wealth Tax Proposal
Coinbase CEO Brian Armstrong could be the next Silicon Valley billionaire to flee California over a union-backed, draconian wealth tax scheme that critics slam as a radical wealth grab.
https://cms.zerohedge.com/s3/files/inline-images/image%20-%202026-08-25T161439.016.jpg?itok=X8E-FlQO
“I think it’s deeply un-American to seize people’s assets. It might be unconstitutional,” Armstrong, who has an estimated net worth of $8.8 billion, said of the proposal during an interview on the “The Katie Miller Podcast.”
“It’s against my values, I would say. I think it’s bad for the state and for America. So we’re considering any and all options basically at this point to be, in terms of relocation,” the crypto executive added.
This week on the Katie Miller Podcast, Coinbase CEO Brian Armstrong breaks down crypto, meme coins, and the explosive future of AI in digital assets.
You will see a side of the CEO you have never seen before: his passion for longevity plus the incredible story of how he met his… https://t.co/JxdDittltm
— The Katie Miller Podcast (@katiemillerpod) https://x.com/katiemillerpod/status/2092371444856741896?ref_src=twsrc%5Etfw
While Coinbase has maintained that it is a remote-first operation, it signed a lease for 150,000 square feet of San Francisco office space in May. That came just four years after it paid $25 million to break its previous office lease in the same city, the https://nypost.com/2026/08/25/business/coinbase-ceo-weighs-california-exit-over-deeply-un-american-wealth-tax/ reports.
If the wealth tax is approved by voters, the levy would hit anyone who lived in California as of Jan. 1 this year and holds a net worth of $1 billion or more by year’s end, excluding certain assets like directly owned real estate.
The tax has split Democrat ranks wide open, with Gov. Gavin Newsom and Democrat gubernatorial hopeful Xavier Becerra both publicly opposing it. The measure originated with a major healthcare union, the Service Employees International Union United Healthcare Workers West (SEIU-UHW), which claims it would raise $100 billion to offset what it calls deep healthcare funding cuts under the Trump administration. Unsurprisingly, far-left lawmakers, including Sen. Bernie Sanders and Rep. Ro Khanna, have https://www.zerohedge.com/political/they-are-united-california-democrats-move-forward-5-billionaire-tax it on.
The proposal has already reverberated through Silicon Valley, where several high-profile figures have established residency elsewhere. Google co-founders Larry Page and Sergey Brin have https://www.zerohedge.com/markets/even-googles-founders-have-had-enough-california-and-are-saying-adios to Florida, while Meta CEO Mark Zuckerberg recently purchased a $150 million mansion in Miami. Even Reid Hoffman, the LinkedIn co-founder, prominent Democrat donor, and longtime buddy of deceased pedophile Jeffrey Epstein, has publicly https://www.zerohedge.com/markets/even-googles-founders-have-had-enough-california-and-are-saying-adios the proposal, describing California’s wealth tax as a “horrendous idea” that would hasten the departure of tech founders and executives from the state.
In May, one of the co-authors of California’s controversial tax appeared to https://www.zerohedge.com/political/they-are-united-california-democrats-move-forward-5-billionaire-tax that the levy could extend beyond a single imposition. Marxist economics professor Emmanuel Saez, who hails from France, made the comment during a heated debate against economist Arthur Laffer at the University of California, Berkeley.
“I don’t think it’s going to be a one-time tax. Because you can’t surprise billionaires more than once,” Saez https://www.zerohedge.com/political/they-are-united-california-democrats-move-forward-5-billionaire-tax. "Even then, maybe some of them were expecting something like this. So, it’s going to be a debate about this time, you know, a permanent wealth tax at a low rate that’s going to last for a number of years.”
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 15:05
https://www.zerohedge.com/personal-finance/coinbase-ceo-considers-joining-california-exodus-over-deeply-un-american-wealth

2026-08-26 18:45:00 UTC

The Reason For The Tech Backlash
The Reason For The Tech Backlash
https://www.theepochtimes.com/opinion/the-reason-for-the-tech-backlash-6079807?utm_source=partner&utm_campaign=ZeroHedge,
The backlash against data centers has shocked political and financial elites. It's because it seems to stretch across the left-right divide. Indeed, it seems like the one thing most Americans can agree on: these centers need to be curbed and controlled. Part of this backlash is also targeting the Flock cameras taking over urban areas with new forms of police surveillance.
https://cms.zerohedge.com/s3/files/inline-images/image%20-%202026-08-26T095610.701.jpg?itok=SU-UjntH
Looking at this without much on-the-ground knowledge, one might be quick to judge these movements as a revival of Luddism that came with industrialization two centuries ago. Is it always the case that people resist the new thing because they don't understand it and don't like the inevitable creative destruction always and everywhere wrought by free-market forces?
I don't believe this story. There is no reason why any real innovation adopted voluntarily on the market should engender a mass movement of revanchists who want to go back to the old ways. The key word in that sentence is voluntary.
When we look back at history, we can see that there are large dollops of public forces that have come with many industrial transformations, including data centers now.
Too often, large technological shocks have been inorganic. They have been imposed by aspirational cartels in league with state power who are looking for unfair advantage and power and portfolio aggrandizement.
Let's travel back in time 500 years to the Enclosure Acts of Britain that are often said (rightly or wrongly) to have kicked off the Industrial Revolution. Before widespread enclosure, much of rural England operated under the common-law, open-field system. Villages had large open fields divided into scattered strips cultivated by individual households, plus common pastures, meadows, and wasteland where villagers could graze animals, gather fuel, or forage under customary rights (such as pasture, pannage for pigs, or estovers for wood). These rights were tied to specific holdings or, in some cases, held more broadly by tenants. Land was managed with shared crop rotations and grazing.
Tradition was settled and it all worked. But starting in the 17th century and extending through the 19th century, Parliament pushed to privatize these lands based in part on access to power and royal privilege. The peasants were pushed out and grazing rights and farming rights long established by tradition came to an end. Make no mistake: this was an act of power, one that discredited the very idea of private property rights, which came to be seen in British culture as nothing but royal privilege.
This is what gave rise to popular resentment. It was no industrialization as such but the means chosen to force it upon an agricultural society and its settled ways. Had this been done by contact and agreement, popular opinion would have been very different.
Something very similar happened to the American South following the Civil War. The Reconstruction governments in league with Northern industrial interests forcibly industrialized large parts of the South, turning traditional agricultural lands into factories. This gave rise to a perception that industry was invasive and coercive, an imposition rather than a choice. An entire movement rose up in opposition, not because people hated progress but because they didn't want it to be rammed down their throats.
Another example came after the Second World War in the United States. The U.S. had the most sophisticated and well-developed system of passenger and cargo trains of any country in the world. But in Washington, D.C., lobbying pressure plus perceptions about an improved future essentially abandoned it all in favor of the automobile and interstate highways. Thousands of small towns were wrecked in the name of progress while historic train stations and the towns they supported were left to rot.
Even the digital revolution has been compromised by similar tactics. Benefiting mightily from pandemic-era lockdowns were the sellers of software, hardware, and online teaching platforms, paid for in substantial part by stimulus checks that later led to high inflation. Stay-at-home orders were not voluntary but another example of forced reset on behalf of industry.
Soon after, artificial intelligence engines came online but they have been greeted with great incredulity rather than excitement. A major reason for this was timing. The same industries that benefit from the lockdowns were now riding high with yet another toy, this one designed to replace human intelligence with machines. It's no wonder people have doubts.
This also figures into why there is such public opposition to the data centers springing up all over the country. The constant buzzing sounds they impose on a community are insufferable. They amount to what economists call a negative externality. Also, much of the land on which they are being built is being seized by eminent domain which amounts to stealing even when it is compensated.
This is not choice, it is not organic, and it is not voluntary. These centers feel like they are part of a central plan imposed upon settled communities nationwide. That they have engendered bipartisan resentment is hardly surprising.
It's the same with Flock surveillance cameras going up everywhere. We are told that they are for crime control but people know better. They are methods to keep tabs on the population generally speaking for purposes of control. That's the key: the building of the control grid. Something prevents people from embracing this and it comes down to one intuition: the desire to be free from impositions by a corporatized ruling class.
None of this feels like organic developments that are part of a normal market process. We see how technological revolution in history is often accompanied by grave acts of coercions. It's these acts that discredit what they are calling progress and give rise to populist movements that are too easily dismissed as reactionary. They are more likely rooted in a normal desire on the part of regular people to be left alone.
We can tick through other examples: rural electrification in the United States, collectivized agriculture in the Soviet Union, demographic scrambling in Mao's China, even the Green New Deal in the United States with its wind turbines and solar mandates. We could even put vaccine mandates in this list: they infuriate people even when the product works. No one likes to be forced into another man's definition of progress.
The free market is a wonderful thing but these examples are not rooted in normal market forces, much less the ideal of competition.
We are a long way from Adam Smith's utopia of butchers, bakers, and brewers.
This is the building of a control grid that seems to treat regular people with disdain, as rats in a laboratory experiment. It's hardly a surprise that it has again been greeted with public incredulity and even fierce opposition.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of ZeroHedge.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 14:45
https://www.zerohedge.com/political/reason-tech-backlash

2026-08-26 18:30:00 UTC

Glacier Wall Collapse May Have Sparked Deadly Flash Flood That Swallowed Nepal-Tibet Border Crossing
Glacier Wall Collapse May Have Sparked Deadly Flash Flood That Swallowed Nepal-Tibet Border Crossing
Summary:
- Glacier Collapse May Have Sparked Nepal Flash Flood
- 100 Dead, 300 Missing, according to Nepal's government (54 Americans among hundreds missing)
- Deadly Flash Flood Near Nepal's Border with Tibet Swallows Entire Border Crossing
Experts Say Glacier Collapse Sparked Deadly Flooding
https://www.reuters.com/business/environment/glacier-collapse-may-have-triggered-deadly-nepal-flash-flood-experts-say-2026-08-26/ reports that the massive, "Day After Tomorrow"-like flash flood along Nepal's border with Tibet, which completely wiped out a border crossing, could have been triggered by a massive glacier collapse.
Planet Labs satellite imagery reviewed by scientists showed that the lower section of a glacier broke away at an elevation of roughly 5,200 meters before plunging about 1,200 meters onto the valley floor.
"What I can see in this morning's satellite imagery from Planet Labs, the lower part of a glacier broke off at about 5,200 meters and crashed onto the valley floor about 1,200 meters below," scientist Dan Shugar, an associate professor at the University of Calgary, told the outlet.
Planet Labs को स्याटेलाइट तस्बिरको विश्लेषणका आधारमा गरिएको प्रारम्भिक अध्ययनबाट नेपाल-चीन रसुवागढी नाकाबाट करिब २० किलोमिटर उत्तरपूर्व नेपाल-चीन सिमानामा गएको हिम-चट्टान पहिरोका कारण ल्हेन्दे खोलामा गेग्य्रानसहितको बाढी आएको देखिएको छ। https://t.co/kCAo9O1Zb0
— NDRRMA (@NDRRMA_Nepal) https://x.com/NDRRMA_Nepal/status/2092584620248408106?ref_src=twsrc%5Etfw
The confirmed casualty count currently stands at 100 bodies recovered, while more than 300 travelers remain missing, according to Nepali authorities, who warned that the death toll could rise dramatically.
New York Post Reports:
- 54 Americans among hundreds missing after deadly flood pummels China-Nepal border
BREAKING: We have our first satellite images of the devastating Nepal/China floods, courtesy of our hardworking friends at Planet Labs, Inc.
This shows the Triushuli River more than quintupling in width and rising by 50-100 feet in some spots. For the hundreds reported missing,… https://t.co/yjIwiPrvgp
— MyRadar Weather (@MyRadarWX) https://x.com/MyRadarWX/status/2092667219322765528?ref_src=twsrc%5Etfw
Terrifying Video Captures 'Day After Tomorrow'-Like Flood Swallowing Entire China-Nepal Border Checkpoint
At least 31 people were confirmed dead, and hundreds of tourists and travelers remained missing after a catastrophic flash flood tore through Nepal's border region with Tibet.
This image helps explain what happened along the Nepal–Tibet border. According to reports, a magnitude 4.4 earthquake on the Tibetan side triggered a massive ice avalanche, which then led to the flash flooding of the Bhotekoshi River in Nepal. Around 1,000 people are missing, and… https://t.co/2n46czGNoB
— Weather Monitor (@WeatherMonitors) https://x.com/WeatherMonitors/status/2092603463406342484?ref_src=twsrc%5Etfw
https://www.scmp.com/news/china/politics/article/3365346/landslide-china-nepal-border-engulfs-checkpoint-causing-major-casualties shared horrifying security-camera footage circulating online that appeared to show people fleeing as a giant wall of water, mud, and debris crashed through a checkpoint on the China-Nepal border.
A landslide at the China-Nepal border has hit a key checkpoint with Tibet, resulting in “major casualties”, according to state media and footage shared online. https://t.co/rc7teWCa2r
— South China Morning Post (@SCMPNews) https://x.com/SCMPNews/status/2092606051522937039?ref_src=twsrc%5Etfw
SCMP cited Chinese state media outlets that said the flash flood struck the border area around 0900 local time before spilling into Gyirong County in Tibet, causing what authorities described as "major casualties and missing persons" at the border checkpoint.
More from SCMP:
In Nepal, 384 tourists and travelers were missing after the landslide, including 93 Nepalese and 291 foreigners, according to the Nepal Tourism Board.
The board said the missing foreigners included citizens from India, Australia, the United States, Britain, and the Netherlands. The nationalities of 111 individuals had yet to be confirmed.
Other dramatic footage:
🇳🇵 🇨🇳 Massive flood sweeps through northern Nepal
Massive flooding has killed several people in Nepal as Chinese state media reported "major casualties" from a mudslide at a Tibet trade hub on China's side of the nations' shared border. https://t.co/NaCZrQ3qrP
— AFP News Agency (@AFP) https://x.com/AFP/status/2092580368368927048?ref_src=twsrc%5Etfw
https://x.com/hashtag/BREAKING?src=hash&ref_src=twsrc%5Etfw .
devastating Flooding Nepal China 🇳🇵😭😭😭😭
Pray For Nepal 🇳🇵🇳🇵😭😭https://x.com/hashtag/flooding?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/Nepal?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/China?src=hash&ref_src=twsrc%5Etfw https://t.co/L6zqWDF3BJ
— Kiran Joshi ( Follow Back 100%) Live #Ukraine (@Kiranjoshi900) https://x.com/Kiranjoshi900/status/2092551418825801890?ref_src=twsrc%5Etfw
Flash floods have swept away entire villages in Nepal’s Rasuwa area, killing at least nine people. Local reports say an earthquake triggered an avalanche that caused the flooding. The Nepal Tourism Board says 291 foreign nationals, including at least 105 Indian tourists, are… https://t.co/OY7Pe6FLbv
— Al Arabiya English (@AlArabiya_Eng) https://x.com/AlArabiya_Eng/status/2092573393778286781?ref_src=twsrc%5Etfw
No, that’s not smoke — it’s floodwater engulfing Nepal
Aerial footage shows the extent of the damage following DEVASTATING flooding
Hundreds have gone missing, while many are feared dead
Video: Kantipur on X https://t.co/ZTIomUGfLz https://t.co/WHxwWilwTq
— RTVisual (@RT_Visual_on_X) https://x.com/RT_Visual_on_X/status/2092577909680615686?ref_src=twsrc%5Etfw
The US Embassy in Nepal responded to the natural disaster on X, saying it was "deeply saddened" by the loss of life caused by the flood. "We extend our sincere condolences to the families and loved ones of those who lost their lives, and our thoughts are with all those affected by this disaster."
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 14:30
https://www.zerohedge.com/geopolitical/terrifying-video-captures-day-after-tomorrow-swallowing-entire-china-nepal-border

2026-08-26 18:25:00 UTC

Wheat Futs Surge To Three-Year High As JPMorgan, HSBC Warn Global Food Shock Is Brewing
Wheat Futs Surge To Three-Year High As JPMorgan, HSBC Warn Global Food Shock Is Brewing
Wheat futures surged to a three-year high on Wednesday morning as traders repriced a nasty convergence of supply risks across the global agricultural supply chain. Ongoing drone and missile attacks on critical Black Sea shipping and port infrastructure are constraining Russian and Ukrainian exports, while severe Northern Hemisphere heat waves and disruptions in the Strait of Hormuz are amplifying concerns that another food-inflation cycle could rear its ugly head next year.
Bloomberg reported that the most-active Chicago wheat contract jumped as much as 2.4% to $7.2025 a bushel, its highest level since July 2023. Futures have gained about 12% so far this month.
https://cms.zerohedge.com/s3/files/inline-images/Snag_3ae2435a.png?itok=meC2J1vg
Russia and Ukraine, two of the world's most important breadbaskets, account for more than a quarter of global wheat exports and are also major suppliers of corn, barley, and sunflower oil. The Black Sea conflict has escalated since early July, with both sides targeting bulk carriers, ports, and other infrastructure critical to transporting grain and other agricultural products to the rest of the world.
Earlier, Ukrainian President Volodymyr Zelenskyy said Moscow rejected Kyiv's proposal for a ceasefire covering ships carrying agricultural goods through the Black Sea. In return, Russia sought guarantees that Ukraine would stop attacking its energy infrastructure, including refineries.
Zelenskyy said Kyiv was prepared to discuss an energy truce, but only on a reciprocal basis. Reuters reported that the two sides remain divided.
Troubling new estimates suggest Ukraine's agricultural exports could collapse by 54% to about 29.6 million tons during the 2026-27 marketing year, down from an earlier estimate of 64.4 million tons. Wheat shipments alone could plunge by 53% to 8.3 million tons.
Meanwhile, Russian wheat exports in August are also expected to fall by more than 50% from a year earlier. Several terminals at Novorossiysk, Russia's largest Black Sea grain-export hub, suspended operations after sustaining damage in a Ukrainian one-way attack-drone strike. The two damaged facilities have a combined annual export capacity of more than 14 million tons, according to S&P Global.
Port bottlenecks are also growing. Bloomberg reported today that as many as 70 ships were queued near the Danube's Sulina Canal. Massive shipping delays have sent freight costs surging.
More broadly, the Bloomberg Agriculture Spot Index, which tracks 10 major crop products, has also jumped to a three-year high.
https://cms.zerohedge.com/s3/files/inline-images/Snag_3ae380cb.png?itok=bdKgJyV3
Wall Street warnings that a food crisis could erupt as soon as next year are growing louder.
The latest came from HSBC economist Jamie Culling, who covers Australia, New Zealand, and global commodities. In a Tuesday note titled "Food Prices Rising Due to the Weather and Wars," Culling warned that global agricultural "https://www.zerohedge.com/commodities/buffers-running-down-quickly-hsbc-warns-next-global-food-shock-brewing."
Last week, JPMorgan global economist Nora Szentivanyi issued a similar warning, saying the next global food crisis "https://www.zerohedge.com/commodities/wont-be-short-lived-jpmorgan-warns-next-global-food-crisis-could-erupt-next-year"
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 14:25
https://www.zerohedge.com/commodities/wheat-futs-surge-three-year-high-jpmorgan-hsbc-warn-global-food-shock-brewing

2026-08-26 18:05:00 UTC

Trump Admin Defends Kennedy Center Name Plan, Warns Of Demolition Risk
Trump Admin Defends Kennedy Center Name Plan, Warns Of Demolition Risk
https://www.theepochtimes.com/us/trump-administration-defends-kennedy-center-name-plan-warns-of-demolition-risk-6079691?utm_source=partner&utm_campaign=ZeroHedge,
The Trump administration told a federal judge that the John F. Kennedy Center for the Performing Arts in Washington could face demolition without major renovations.
https://cms.zerohedge.com/s3/files/inline-images/image%20-%202026-08-26T070758.260.jpg?itok=x2BDf5OK
Lawyers for the Justice Department made the case in a https://www.courtlistener.com/docket/72069932/68/beatty-v-trump/ in defense of a recent board resolution that would add language recognizing President Donald Trump on the building and rename the grounds.
The board of trustees for the center voted Aug. 13 to place the words "Restored and Renovated by President Donald J. Trump" below the center's formal name. It also approved calling the physical site the "President Donald J. Trump Plaza."
Rep. Joyce Beatty (D-Ohio), a board member, had asked U.S. District Judge Christopher R. Cooper to block the move. Beatty's emergency motion seeks an injunction against the name recognition resolution.
In response, Justice Department attorney Brantley T. Mayers wrote that the center sits in a "financial and structural death spiral." The filing describes the building as "dangerously dilapidated, outdated, and decrepit."
"Without those efforts, the Center will deteriorate further into an unsafe, decrepit structure that will be required to be taken down, with a determination to follow on what to build on the site," the filing states, pointing toward one long-discussed alternative in the form of a large outdoor amphitheater overlooking the Potomac River.
Mayers argued that blocking recognition of Trump would cause donors to flee, financial contributions to slow, and structural work to stop.
"The crisis is so acute that, without the Trump Administration, its people, and President Trump, the Center cannot survive, either structurally or financially," the filing says.
Cooper ruled in May that an earlier board decision to rename the institution the "Donald J. Trump and the John F. Kennedy Memorial Center for the Performing Arts" violated federal law. Only Congress can change the name, the judge found. Trump's name was removed from the facade in June.
The new resolution stops short of a complete rename. Administration lawyers contend it stays within the board's authority and does not violate the prior order.
A hearing is set for Thursday. The board has said it will not implement the inscriptions before Sept. 8 at the earliest.
The Kennedy Center opened in 1971 as a living memorial to the slain president. Its board, controlled by Trump appointees, has pushed renovations for months, with Trump describing the building as in poor shape and positioning the project as essential to its future.
The filing urges Cooper to deny Beatty's request, describing the recognition language as a necessary acknowledgment for the administration's role in any renovation and rescue effort.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 14:05
https://www.zerohedge.com/political/trump-admin-defends-kennedy-center-name-plan-warns-demolition-risk

2026-08-26 17:49:29 UTC

Yields Hit Session High After Subpar 5Y Auction Tails For 10th Consecutive Time As Foreign Buyers Shrink
Yields Hit Session High After Subpar 5Y Auction Tails For 10th Consecutive Time As Foreign Buyers Shrink
While yesterday's 2 Year auction was absolutely blockbuster, today's sale of 5Y paper left quite a bit to be desired.
Starting at the top, today's sale of $70BN in 2Y paper priced at a high yield of 4.393%, which was modestly below last month's 4.408% if at the high end of all auctions in the past few years. It also tailed the When Issued 4.391% by 0.2bps, which was the 15th consecutive auction without a Stop Through, and the 10th tailing auction in a row.
https://cms.zerohedge.com/s3/files/inline-images/5Y%20tail%20aug%2026.jpg?itok=mwmNvPFJ
The bid to cover was 2.37, an improvement to last month's 2.28 and better than the recent average of 2.32. It was also the highest bid to cover going back to November 2025.
The internals were weaker, with foreign buyers taking down 61.5%, up from 59.2% last month if below the recent average of 65.4%. And with Directs hanging in there, and taking 28.4% of the auction, the most since January, Dealers were left holding 10.0%, the lowest since December.
https://cms.zerohedge.com/s3/files/inline-images/5Y%20August%202026.jpg?itok=YymTXTbK
Overall, this was a solid, if notably weaker auction than yesterday's phenomenal 2Y sale, and the continued drift higher in the 10Y yield and the entire curve to session highs, confirmed the market's muted reception.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 13:49
https://www.zerohedge.com/markets/yields-hit-session-high-after-subpar-5y-auction-tails-10th-consecutive-time-foreign-buyers

2026-08-26 17:25:00 UTC

The Unsustainable $40 Trillion National Debt
The Unsustainable $40 Trillion National Debt
https://www.theepochtimes.com/opinion/the-unsustainable-40-trillion-national-debt-6079241?utm_source=partner&utm_campaign=ZeroHedge,
The national debt has now passed $40 trillion. It stands at 120 percent of GDP. That should alarm us and probably does but let's just be honest: no one can conceive of such figures. They are just floating zeros and no one has any sense of whether and to what extent this portends economic doom for us. Maybe it does or maybe it doesn't.
https://cms.zerohedge.com/s3/files/inline-images/Screenshot%202026-08-25%20at%2010-35-29%20The%20Unsustainable%20%2440%20Trillion%20National%20Debt%20The%20Epoch%20Times.png?itok=xZQEAotK
You can perhaps conceptualize this better by considering household finance. The extent of the debt burden a household can handle depends on the ratio of financial inflows to outflows in the form of debt service. This is the debt-to-income ratio. Another consideration looks at assets that would need to be liquidated should bankruptcy arrive. That's the debt-to-assets ratio.
The usual financial advice for a household is to keep the debt-to-income ratio in the range of 30 percent. As for debt-to-assets, anything beyond 50 percent is overly vulnerable to shocks that could turn everything south and quickly, leading to tragedy with even small changes in interest rates, stock valuations, business fortunates, or real-estate hiccups.
And yet here we are with a 120 percent ratio of debt to GDP. This is higher than the brief blowout of the Second World War, a time when the nation was stuffed with real savings and U.S. creditworthiness was unquestioned. After the war, the nation got its fiscal house in order and it stayed that way for decades.
https://cms.zerohedge.com/s3/files/inline-images/id6079243-JAT_2026.08.25_1_80.jpg?itok=e0QWGWFb
The turning point toward this scary debt cycle was the end of the gold standard and the Bretton Woods system that forced some degree of fiscal responsibility. Gold outflows were always going to be a consequence of extension. When the spending extravaganza of the Great Society plus the Vietnam War (guns and butter) tested the limits and nations around the world started demanding payment in specie, the United States panicked and closed the gold window for good. That was 1971 and by 1973, we had a new system: a world of floating fiat currency.
The crucial point here is that Congress no longer faced any real cost for authorizing endless spending of whatever sort. The Treasury creates the debt and sells it to bond dealers who dish it out to all takers. The buyer of last resort is of course the Federal Reserve. This is the creator of this moral hazard. It's why there is no real default premium on U.S. debt and no serious work to rate the quality of debt with any realistic measurement. It's because the Fed is there always and ever to be the buyer of last resort.
Let's put this in simpler terms. Why is it that states within the United States don't run these kinds of debts? If they do run deficits, their default risk goes up and the quality rating goes down. Most states do very well on this score with a AAA rating, whereas Illinois, New Jersey, Pennsylvania, and Kentucky have lower ratings. In states, there are consequences for fiscal mismanagement.
I've wondered how common the knowledge is to explain this puzzle. So I asked a conventional AI engine what it believed to be the explanation. To my amazement, the answer came back quickly and precisely: states in the union have no power to create money. Boom! That's it. That's the whole thing.
This is why every scheme for balancing the budget at the federal level has failed. There is no balanced budget amendment but it likely would not matter much anyway. We could have a quantity rule for the Federal Reserve but it would be completely unenforceable.
The only way to stop the debt madness at the federal level would be to legally prohibit the Fed's open market operations (OMOs) and related large-scale asset purchases. This would largely prevent the Federal Reserve from expanding the monetary base in its primary and most powerful way. This and this alone would bring fiscal accountability to the federal level that states face all day every year.
Absent that solution, the federal government faces the same problem that a household with too much debt faces. Eventually all its income flows will be eaten up by debt service. Right now, 19 percent of federal revenue feeds the debt machine but matters are getting worse. The latest estimates from the Congressional Budget Office forecast a coming fiscal trainwreck.
https://cms.zerohedge.com/s3/files/inline-images/id6079244-JAT_2026.08.25_2_80.jpg?itok=2T2QHp1F
The new estimates are that if net interest averages 250 basis points (2.5 percentage points) higher than CBO's baseline assumptions, 100 percent of all revenue going to the federal government will go to paying interest on the debt by 2055. That's just not that far away. That moment spells disaster.
And this is one reason why there is such a push by both parties and all stakeholders to hold down rates as much as possible. Letting them float according to free market pressures would bankrupt the country in a period of years. But therein lies another problem. Artificially low interest rates feed inflation and distort production structures.
This is why I'm not optimistic that our problems with inflation are going away anytime soon. If the Fed were really to crack down on quantitative easing, the fiscal burden of debt would explode in ways that would limit the power of politicians and utterly blow up the bond market. It appears to me that U.S. elites have decided that a persistent 3-4 percent inflation rate is a necessary tradeoff to avoid a fiscal calamity.
I'm very sorry to be the bearer of this bad news. We've gone though heck and back over the last 5 years of inflation but the problem is not going away soon. Let's further assume that the https://realityindex.co/ is correct that the real inflation rate is one-third higher than official reports. At this rate, the dollar might have lost a clean 50 percent across the board of its 2019 purchasing power in one decade. This means that the fight to achieve the American dream is ongoing.
Consider too that the unfunded liabilities assumed over a 75-year horizon is closer to $80 trillion-$90 trillion, numbers that are beyond comprehension. The answer to the debt problem, then, is to bring back fiscal discipline through serious monetary reform. Let rates rise to their market level, allow that increase to feed the fullness of the yield curve, close open market operations, and expect Congress to stop its wild behavior once and for all. There are pathways out of this mess but it will require genuine political courage to pursue them.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 13:25
https://www.zerohedge.com/economics/unsustainable-40-trillion-national-debt

2026-08-26 17:05:00 UTC

Trump Sends Saudi Nuclear Accord To Congress, With Israel Normalization Still Attached
Trump Sends Saudi Nuclear Accord To Congress, With Israel Normalization Still Attached
It's official - a proposed agreement with Saudi Arabia on civil nuclear energy has been submitted by the White House to Congress.
The landmark nuclear accord would mean that uranium enrichment would eventually take place on Saudi territory. However, President Trump has included a major bombshell condition: he has not backed off requiring Saudi normalization with Israel.
https://cms.zerohedge.com/s3/files/inline-images/RubioSaudi.jpg?itok=1T0uVcaL
"The president's position has not changed that the agreement will only move ‌forward if Saudi Arabia joins the Abraham Accords," an admin official has https://www.wsj.com/world/middle-east/trump-sends-nuclear-agreement-with-saudi-arabia-to-congress-7f01af2c.
The Wall Street Journal reports that "The agreement, which ‌was reached in July and would allow U.S. companies to export civilian nuclear technology to the kingdom, was sent to Congress on Monday, according to the U.S. official, who ⁠declined to be identified."
But officials admit expected fierce debate in Congress, as WSJ also notes: "It was not clear how Trump expects ⁠sending the nuclear deal to Congress, which has 90 session days to consider it, will advance his objectives."
"The 30-year nuclear deal calls for the construction of AP1000 reactors, a project worth tens of billions of dollars that would benefit Westinghouse, jointly owned by Canada-based Cameco and Brookfield Asset Management," the same report details.
The Saudis cooled on the potential for normalization with Israel in the wake of the Gaza war. Riyadh has long been demanding nothing less than full recognition of a Palestinian state before it can join the Abraham Accords.
Given at this point that this seems an impossibility from Israel's perspective, which has effectively demolished the Gaza Strip and continues squeezing the West Bank, the Saudi nuclear deal is unlikely to happen anytime soon - and could yet be many years down the line, if at all.
Meanwhile, Tehran will seize on the hypocrisy of the West allowing uranium enrichment in Saudi Arabia - and thus potential nukes - while making war on Iran and sanctioning the country for its nuclear energy program.
Any future Saudi nuclear weapon might also assure an atomic arms race in the region, and certainly the Iranians would then have greater incentive to finally build one. And it could be that they already are in secret, following the US-Israeli unprovoked attacks during Operation Epic Fury.
Why a Saudi nuclear program is not worth ending Us proliferation
Spot on article by https://x.com/StrickerNonpro?ref_src=twsrc%5Etfw analysing the proliferation risks if this deal. And i would add; these proliferation risks have only increased after the Mecca agreement. https://t.co/HlG3yCUJaV
— Brian McDonald B (@iamBrianBJ) https://x.com/iamBrianBJ/status/2092614615674847293?ref_src=twsrc%5Etfw
Iran sees itself as in a war for its very existence, and so would naturally respond accordingly. It also looks at nations like North Korea, who gain automatic 'respect' from Trump and others on the mere basis of possessing a nuclear arsenal.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 13:05
https://www.zerohedge.com/political/trump-sends-saudi-nuclear-deal-congress-israel-normalization-still-attached

2026-08-26 16:45:00 UTC

Yet Another Church Torched: Cause "Unknown"
Yet Another Church Torched: Cause "Unknown"
https://modernity.news/2026/08/25/yet-another-church-torched-cause-unknown/,
Yet another century-old house of worship has been wiped from the map.
https://cms.zerohedge.com/s3/files/inline-images/churchmod_0.jpg?itok=CDmvD8hB
The former Friendship Baptist Church in Cleveland, Ohio - a structure dating to the mid-1890s that began life as a synagogue before becoming a Baptist sanctuary - was engulfed in a massive early-morning blaze last week.
Nearly sixty firefighters fought the inferno for hours. The roof collapsed. The remnants were later demolished. Officials initially listed the cause as unknown.
BREAKING: Historic church (100+ years old) just "caught on fire" in Cleveland, unknown cause
The remains have been demolished https://t.co/8mqpjCnh3Z
— End Wokeness (@EndWokeness) https://x.com/EndWokeness/status/2091960113422581774?ref_src=twsrc%5Etfw
The Friendship Baptist Church in Ohio, which is over 100 years old, was destroyed by a MASSIVE fire over the weekend.
The remnants of the building were demolished after the fire was put out.
Yet another church mysteriously goes up in flames... https://t.co/htIHZ6SzNA
— Libs of TikTok (@libsoftiktok) https://x.com/libsoftiktok/status/2091967075879195091?ref_src=twsrc%5Etfw
? SICKENING: I'm sick and tired of watching churches burn.
Now a historic Cleveland house of worship dating back to the 1890s has been reduced to ruins. More than a century of history, gone.
And Christians are supposed to just shrug and move along?
No. Every church fire... https://t.co/fXl3ovDgph
— Gunther Eagleman™ (@GuntherEagleman) https://x.com/GuntherEagleman/status/2091974469979947225?ref_src=twsrc%5Etfw
Gunther Eagleman wrote: "Christians are supposed to just shrug and move along? No. Every church fire deserves a serious investigation. If it's an accident, prove it. If it's arson, hunt down whoever did it and prosecute them to the fullest extent of the law. Christians should never become numb to attacks on our churches. Enough is enough. Protect our churches. Defend our faith. Demand answers."
Local fire officials have since confirmed the blaze was incendiary. Motives were not believed to be financial. Arrests were expected as investigators worked through the warrant process. The building had sat vacant for years after the congregation dwindled. Cleveland Fire Lieutenant Mike Norman called the loss "irreplaceable" and estimated damage at roughly $500,000.
This is not an isolated incident. It sits inside a lengthening list of historic Christian sites reduced to ash while official language defaults to "unknown," "under investigation," or "accidental," and political attention remains selective.
Just weeks earlier, a 164-year-old church in Leicester, UK suffered severe damage. St Andrew's Church on Jarrom Street, built in 1862 and designed by Sir George Gilbert Scott, caught fire after 11pm on July 28.
Firefighters battled through the night. The fire started on the ground floor and spread to the roof. Officials later said the most probable cause was accidental, with the building secure and no sign of forced entry. Services resumed in the church hall. The Pope sent a letter of solidarity. Repairs could take years.
That Leicester fire followed the complete destruction of the historic Kings Hall Methodist Church in Southall, West London, in February. More than ten fire engines and around seventy firefighters responded as the over-100-year-old building was reduced largely to ashes. The government response was muted.
Days later then Prime Minister Keir Starmer expressed clear concern over a security incident at Manchester Central Mosque during Ramadan and highlighted up to £40 million in funding for additional security at mosques, Muslim schools and community centres. He remained silent on the Southall church and the wider pattern of attacks on Christian sites.
National Churches Trust data has recorded hundreds of attacks on churches, including arson, and thousands of crimes at church properties in recent years, with security funding per site far lower than for mosques or synagogues.
In the US, in Buffalo, the 140-year-old former St. Ann's Church and Shrine was hit by multiple fires this year after its 2022 sale to a group affiliated with the Downtown Islamic Center for conversion into an Islamic community centre.
Two blazes within four days in July were confirmed as arson. Local officials expressed frustration at the owners' failure to secure the vacant landmark.
New York City saw the 173-year-old South Bushwick Reformed Church in Brooklyn gutted in June. The cause was initially listed as under investigation before the FDNY confirmed it was intentionally set.
A person of interest was seen fleeing on video; no arrest followed. The city rejected a preservation plan and ordered demolition.
Weeks earlier a 138-year-old church in Astoria, Queens, suffered severe damage in a five-alarm fire, also followed by rapid moves toward demolition.
In Canada, arson attacks on churches more than doubled after 2021. A Macdonald-Laurier Institute report found fewer than 4 percent of cases resulted in charges. One of the more recent examples was the 1893 church in Saint-Romain, Quebec, destroyed by fire in April and treated as arson.
France has recorded nearly fifty fires or arson attempts on churches and Christian sites in a single recent year.
A 19th-century church in Montenach was gutted in May.
Other historic sites, including a 17th-century chapel and a cloister, suffered major fire damage around the same period. Studies have noted a Christian religious building disappearing every two weeks through fire, collapse or deliberate damage.
Across these cases the official language often settles on "unknown," "accidental," or "under investigation." Suspects are rarely identified.
Historic Christian buildings disappear while demographic shifts continue and political priorities remain selective.
The Cleveland fire is simply the latest entry in a lengthening record. Christians are told to move along. Enough is enough.
Your support is crucial in helping us defeat mass censorship. Please consider donating via https://pauljosephwatson.locals.com/support or check out our unique https://modernity.news/shop. Follow us on X https://x.com/modernitynews.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 12:45
https://www.zerohedge.com/political/yet-another-church-torched-cause-unknown

2026-08-26 16:05:00 UTC

The Great Game's Afoot
The Great Game's Afoot
By Michael Every of Rabobank
Brent oil is lower today at $86 on a bundle of news: US Secretary of State Rubio told allies strikes against Iran were off the table --for now -- and sanctions were on it; the US was reported to be returning some diplomats to Middle East embassies withdrawn over security fears; and Iran and Oman said they had discussed a Hormuz temporary corridor and mine-clearing – though Iran reiterated that the strait is still closed and just attacked another ship. There’s a Great Game afoot there, obviously.
The regional view is that Iran is running out of money, with the UAE and Iraq in particular showing how Tehran can be hit economically. Yet the US isn’t targeting China’s support for Iran, which Beijing has defended, warned against disrupting -- Bloomberg says with “defiance”, and threatened to retaliate against. There’s a Great Game afoot there too, of course.
Bonds liked lower oil prices. 10- and 30-year US Treasury yields were down 7bps and 9bps respectively this week at time of writing. That’s despite an AI-written op-ed from former Bessent and Warsh boss and hedge fund maven Druckenmiller, which criticises the Treasury Secretary’s bond market machinations and arguing price discovery is paramount. There’s a Great Game afoot in that public spat too. As Bloomberg puts it today, ‘Short Squeeze in US Long Bonds Shows ‘Bessent Put’ at Work.’ Gold is not showing signs of capitulation, however.
CIA Director Ratcliffe flew to Moscow for what seems to have been 15 minutes of dialogue. The last time that happened was just before the Russian invasion of Ukraine. The Vatican envoy was also in Moscow calling for an urgent end to the war. Both come after Europe offered further direct military support to Kyiv, the UK pledging blueprints of advanced missiles, despite Russian warnings this crosses their red line; reports of imminent Russian mobilisation of up to 500,000 men; Sweden reviving talk of seizing Russia’s frozen FX assets; accelerated UK civil defence planning against Moscow’s threats; and a UK government warning to Brits to stock up on food amid threat from “climate crisis” and “hostile states.” Did Ratcliffe talk Iran? Was he ‘palling with Putin’? Did he warn Moscow not to escalate vs Ukraine? Or did he try to de-escalate Russian actions vs a UK PM with no foreign policy experience trying to charm EU leaders? There’s a dangerous Great Game in that tangle of questions.
Ex-Soviet Ukraine, Georgia, Moldova, and Armenia, along with Montenegro, want to join the EU. Iceland was just told if it votes to start membership talks Saturday it could be in by 2028: colour in more blue on the map: don’t add any military to defend it. Canada also wants deeper relations with Europe, necessitating a loss of sovereignty, as its press claims it’s ‘fighting for its sovereignty’ with Americans who “don’t even realise they’re in a war.” A combustible pocket of the US press now accuses PM Carney of “colluding” with US Democrats in appointing “a long-time Democrat political operative” to the new position of Chief Operating Officer of the Prime Minister’s Office, the equivalent of the White House Chief of Staff. All the above is a Great Game too if you choose to see it, even if some don’t always understand the rules it’s played by.
Yet Americans, Canadians, and everyone else can see the ensuing North American trade war. Canada just raised its tariffs on the US to 50% in response to Trump. Some of the Canadian press ask, “Where's the plan to keep industry from fleeing?” Meanwhile, Trump is now saying he’ll rename Lake Ontario to Lake America: what can Canada rename to match?
In US politics, a judge reversed the reversal of her order by the Supreme Court seen the previous day which opened the door to significant changes in how the US postal service handles mail-in voting in elections. As Axios notes, this Great Game still has further to run as we sprint towards the midterms.
The South China Morning Post hammers home: ‘No immunity: how Xi’s anti-corruption fighters are zeroing in on fresh targets.’ Just below that headline is one that ‘Hong Kong’s property, financial markets face test under cross-border anti-corruption law.’ Quite.
And in Japanese politics, PM Takaichi is quoted as saying, I'm so lonely I befriended a cockroach.’
Sticking to the mundane ‘higher/lower’ game of modern markets, Australian CPI came in hotter than expected just after the RBA minutes said the Bank thought it had peaked. Headline CPI was 1.0% m-o-m and 3.5% y-o-y vs. 0.9% and 3.2% consensus, and trimmed mean was 0.5% m-o-m and 3.6% y-o-y vs. 0.3% and 3.5%. A lot of that was driven by fuel, but also by domestic holiday and travel, led by fuel, and restaurant meals, led by food led by fuel. Even clothing and footwear, furniture, and household equipment, all of which need inputs led by fuel and distribution led by fuel, came in stronger than expected. The market is now chattering about the RBA hiking again in September just a day after it was of totally different mind.
Was this a shock given Reuters notes almost half of global oil now flows from war zones? Geopolitics is not something exogenous one can ignore: it lies at the heart of inflationary problems.
When do central banks and modellers grasp the fuel component in CPI, like critical minerals and electricity, flows on to other things – and without the deflationary impact of a ‘China shock’ for those states opting to try to retain local industry? When will their focus shift to *supply* not demand? And, linking back to Bessent, when will they see lower yields as a means to that end rather than towards ‘Buy all the things!!’ Pavlovian responses?
That may not be Great for some. But it’s now The Game.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 12:05
https://www.zerohedge.com/markets/great-games-afoot

2026-08-26 15:10:00 UTC

SoftBank Credit Risk Rises As Firm Mulls $20 Billion Bond Sale For OpenAI Stake
SoftBank Credit Risk Rises As Firm Mulls $20 Billion Bond Sale For OpenAI Stake
SoftBank Group's 8.5% notes due 2036 fell as much as 2.5 cents to about 98 cents on the dollar after Bloomberg reported that Masayoshi Son's conglomerate is considering a $10 billion to $20 billion bond offering, prompting traders to price in additional leverage and supply risk as the investment firm plans to refinance the massive bridge loan backing its OpenAI investment.
https://cms.zerohedge.com/s3/files/inline-images/Snag_3a128d57.png?itok=LUqHgY29
Sources familiar with SoftBank's plans said the potential bond offering could be denominated in dollars and euros, though they stressed that its size and timing could change. Proceeds would be used partly to repay a $40 billion bridge loan secured earlier this year to fund SoftBank's OpenAI investment and partly to finance additional artificial intelligence investments.
Masayoshi Son's junk-rated conglomerate plans to invest more than $65 billion in OpenAI by October, funding one of the largest private AI bets in history partly with borrowed money.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-32-35.png?itok=IKNEEGyq
"We are considering various options to refinance the bridge loan, but nothing has been decided, including the amount for each," a SoftBank spokesperson told the outlet.
The report noted:
Unlike most of its international offerings, SoftBank is exploring a 144A format for the first time in more than a decade, which would allow the notes to be sold to institutional investors in the US, the people said. That would help the company tap a larger pool of capital and potentially boost demand for the sale, they added.
US hyperscalers are expected to pour trillions of dollars into data centers and other AI infrastructure over the coming years. These firms have already borrowed more than $410 billion so far this year, putting pressure on debt markets. There are also $3.1 trillion in hyperscaler off-balance-sheet commitments that have come into question, as we noted in our https://www.zerohedge.com/markets/balance-sheet-time-bomb-inside-ai-hits-31-trillion-13tn-three-months.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 11:10
https://www.zerohedge.com/markets/softbank-2036-bonds-tumble-firm-mulls-20-billion-bond-sale-openai-stake

2026-08-26 14:50:00 UTC

Trump Admin Pauses All Visa Appointments Worldwide
Trump Admin Pauses All Visa Appointments Worldwide
https://www.theepochtimes.com/us/trump-administration-pauses-visa-appointments-worldwide-6079667?utm_source=partner&utm_campaign=ZeroHedge,
The Trump administration has paused visa appointments for applicants worldwide as the State Department launches a global training initiative at all U.S. embassies and consulates, according to a department spokesperson. Appointments for visa services will be rescheduled to accommodate the training.
https://cms.zerohedge.com/s3/files/inline-images/image%20-%202026-08-26T070634.940.jpg?itok=l1q1kU9a
The State Department offered no specific details on the training or its timeline. Officials said the initiative aims to help consular officers screen out applicants deemed likely to become dependent on U.S. public benefits. It is also intended to ensure evaluation of visa applicants comprehensively and consistently.
"A more prosperous America means ensuring that visa applicants are not likely to become a public charge, as defined under U.S. law and regulation, and not likely to become dependent on U.S. public benefits reserved for qualified Americans in need," a State Department spokesperson said in an emailed statement to The Epoch Times.
Immigrant visa applicants with scheduled interviews at U.S. embassies and consulates have been contacted about any changes to their appointments, the spokesperson said.
The State Department has not indicated how long the adjustments will last.
The step comes during an ongoing enforcement of federal immigration laws in President Donald Trump's second term. That effort has included revocations of visas and green cards, with applications rejected for reasons ranging from political opinions to participation in pro-Palestinian protests against U.S. ally Israel's war in Gaza.
A spokesman for U.S. Citizenship and Immigration Services (USCIS) https://www.theepochtimes.com/us/dhs-to-vet-immigrants-for-extremist-views-6018121?utm_source=partner&utm_campaign=ZeroHedge certain behaviors and statements "may raise serious concerns for USCIS personnel reviewing an applicant's file, including espousing terrorist ideologies, expressing hatred for American values, advocating for the violent overthrow of the United States government, or providing material support to terrorist organizations," adding that such actions "warrant closer scrutiny."
Trump campaigned in 2024 on stopping illegal immigration. His administration has also made legal immigration more difficult. One example involves new and expensive fees for certain work visa applicants.
The measures have faced legal setbacks. A U.S. judge on Aug. 21 https://www.theepochtimes.com/us/judge-strikes-down-trump-admin-policy-suspending-visa-processing-from-75-countries-6078461?utm_source=partner&utm_campaign=ZeroHedge a Trump administration policy that suspended issuance of immigrant visas to applicants from 75 countries. The judge ruled the policy exceeded Secretary of State Marco Rubio's statutory authority.
U.S. District Judge Jeannette Vargas in Manhattan called the policy - issued by the State Department in January - "patently unlawful" and said it did not comply with federal immigration law.
"Consular officers were ordered to refuse immigrant visas to nationals of the 75 designated countries, regardless of whether the consular officer had, following an individualized assessment, determined that the applicant was not likely to become a public charge and that the applicant was otherwise eligible for a visa," Vargas wrote in her ruling.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 10:50
https://www.zerohedge.com/geopolitical/trump-admin-pauses-all-visa-appointments-worldwide

2026-08-26 14:40:00 UTC

WTI Rises After Big Product Draws, Tiny Crude Build, SPR Nears 'Tank Bottoms'
WTI Rises After Big Product Draws, Tiny Crude Build, SPR Nears 'Tank Bottoms'
Oil prices extended their declines for a third straight day after the US plan to ramp up economic pressure on Iran spared the country’s trading partners from harsher measures for now, while mediators said they were continuing efforts to end the conflict.
“There was a lot of buildup around the announcement but what we got was more a warning about where policy is heading than an immediate shock to physical supply,” said Haris Khurshid, chief investment officer at Chicago-based Karobaar Capital LP. “Until secondary sanctions start changing who can buy, ship or even finance Iranian crude, I don’t think traders have much reason to add another geopolitical premium.”
Oman and Iran said the countries' foreign ministers discussed an agreement to reopen the Strait of Hormuz under a temporary framework.
Negotiations between the two countries will continue "with a view to agreeing on a permanent navigational corridor and future administration of the strait," the joint statement said.
While positive, an agreement between Oman and Iran wouldn't result in oil flows through the strait returning to prewar levels, ING analysts Warren Patterson and Ewa Manthey said.
"We would likely need to see the U.S. lift its blockade on Iranian ports and ease sanctions on Iran before we see any move towards normalization."
All eyes on domestic supply (and demand) for the next tactical leg...
API
-
Crude +4.2mm
-
Cushing +1.0mm
-
Gasoline -3.2mm
-
Distillates -459k
DOE
-
Crude +95k (+500k exp)
-
Cushing +1.18mm
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Gasoline -2.54mm
-
Distillates -2.23mm
Crude stocks rose for the 4th straight week (but it was a tiny 95k increase) while Cushing saw a modest build off tank bottoms. Product inventories saw large drawdowns..
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-32-18.jpg?itok=2NBq4D6-
The Trump admin drained another 3.6mm barrels from the SPR to 289.7 million barrels (1983 lows), approaching the minimum operational level for storage facilities, which ranges between 250 and 300 million barrels.
https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url%20%2826%29_6.jpg?itok=CRnhQQ8I
The combination of a tiny commercial crude build and sizable SPR drain created the biggest net crude drawdown in over a month...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-33-12.jpg?itok=o48o0fD7
Cushing stocks remain very near 'tank bottoms'
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-34-39.jpg?itok=ysO0vNkB
Distillates stocks fell back near 25 year lows...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-37-14.jpg?itok=7h1uw5Yf
...and the lowest seasonally on record...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-46-02.jpg?itok=NlaX_hS6
US crude imports from Saudi Arabia picked up recently (but remain well below peak war levels). Crude exports fell below 4 million barrels a day, a threshold closely watched by the market to gauge demand.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-41-35.jpg?itok=zpg1_0ES
US Crude production remains near record highs and while the rig count dipped last week, it is still trending higher overall...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-38-47.jpg?itok=EaV84OJV
Refining utilization rates are at the highest seasonal level since 1998. That is, in part, due to a shrinking US refining fleet in recent years. But it’s also evidence of how hard fuel-makers are running their plants right now to capture wide margins. They plan to keep that up into the fall, with some companies even deferring maintenance.
US gasoline demand remains 'normal' for this time of year...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-45-18.jpg?itok=ZJ2nT278
WTI was hovering around $81.50 (off the overnight lows) ahead of the official data (down from almost $88 last week)...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_07-35-42.jpg?itok=HgjF5vOU
Crude is still up about 50% this year as the war - now in its sixth month - continues to disrupt the shipping of crude and refined fuels out of the Middle East.
The impact has been particularly acute in fuel markets, which have also faced a hit from Ukrainian attacks on Russian refiners. That’s helped push premiums over crude to stratospheric levels (but the crack spread is starting to decline)...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-24_12-54-21_0.jpg?itok=OksnKC9r
At the same time, large volumes of crude supplies continue to transit Hormuz with their satellite signals turned off.
Those volumes are in millions of barrels a day and have helped generally keep a lid on prices that had been expected to soar at the outset of the conflict.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 10:40
https://www.zerohedge.com/markets/doe

2026-08-26 14:15:00 UTC

Terrifying Video Captures 'Day After Tomorrow'-Like Flood Swallowing Entire China-Nepal Border Checkpoint
Terrifying Video Captures 'Day After Tomorrow'-Like Flood Swallowing Entire China-Nepal Border Checkpoint
At least 31 people were confirmed dead, and hundreds of tourists and travelers remained missing after a catastrophic flash flood tore through Nepal's border region with Tibet.
This image helps explain what happened along the Nepal–Tibet border. According to reports, a magnitude 4.4 earthquake on the Tibetan side triggered a massive ice avalanche, which then led to the flash flooding of the Bhotekoshi River in Nepal. Around 1,000 people are missing, and… https://t.co/2n46czGNoB
— Weather Monitor (@WeatherMonitors) https://x.com/WeatherMonitors/status/2092603463406342484?ref_src=twsrc%5Etfw
https://www.scmp.com/news/china/politics/article/3365346/landslide-china-nepal-border-engulfs-checkpoint-causing-major-casualties shared horrifying security-camera footage circulating online that appeared to show people fleeing as a giant wall of water, mud, and debris crashed through a checkpoint on the China-Nepal border.
A landslide at the China-Nepal border has hit a key checkpoint with Tibet, resulting in “major casualties”, according to state media and footage shared online. https://t.co/rc7teWCa2r
— South China Morning Post (@SCMPNews) https://x.com/SCMPNews/status/2092606051522937039?ref_src=twsrc%5Etfw
SCMP cited Chinese state media outlets that said the flash flood struck the border area around 0900 local time before spilling into Gyirong County in Tibet, causing what authorities described as "major casualties and missing persons" at the border checkpoint.
More from SCMP:
In Nepal, 384 tourists and travelers were missing after the landslide, including 93 Nepalese and 291 foreigners, according to the Nepal Tourism Board.
The board said the missing foreigners included citizens from India, Australia, the United States, Britain, and the Netherlands. The nationalities of 111 individuals had yet to be confirmed.
Other dramatic footage:
🇳🇵 🇨🇳 Massive flood sweeps through northern Nepal
Massive flooding has killed several people in Nepal as Chinese state media reported "major casualties" from a mudslide at a Tibet trade hub on China's side of the nations' shared border. https://t.co/NaCZrQ3qrP
— AFP News Agency (@AFP) https://x.com/AFP/status/2092580368368927048?ref_src=twsrc%5Etfw
https://x.com/hashtag/BREAKING?src=hash&ref_src=twsrc%5Etfw .
devastating Flooding Nepal China 🇳🇵😭😭😭😭
Pray For Nepal 🇳🇵🇳🇵😭😭https://x.com/hashtag/flooding?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/Nepal?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/China?src=hash&ref_src=twsrc%5Etfw https://t.co/L6zqWDF3BJ
— Kiran Joshi ( Follow Back 100%) Live #Ukraine (@Kiranjoshi900) https://x.com/Kiranjoshi900/status/2092551418825801890?ref_src=twsrc%5Etfw
Flash floods have swept away entire villages in Nepal’s Rasuwa area, killing at least nine people. Local reports say an earthquake triggered an avalanche that caused the flooding. The Nepal Tourism Board says 291 foreign nationals, including at least 105 Indian tourists, are… https://t.co/OY7Pe6FLbv
— Al Arabiya English (@AlArabiya_Eng) https://x.com/AlArabiya_Eng/status/2092573393778286781?ref_src=twsrc%5Etfw
No, that’s not smoke — it’s floodwater engulfing Nepal
Aerial footage shows the extent of the damage following DEVASTATING flooding
Hundreds have gone missing, while many are feared dead
Video: Kantipur on X https://t.co/ZTIomUGfLz https://t.co/WHxwWilwTq
— RTVisual (@RT_Visual_on_X) https://x.com/RT_Visual_on_X/status/2092577909680615686?ref_src=twsrc%5Etfw
The US Embassy in Nepal responded to the natural disaster on X, saying it was "deeply saddened" by the loss of life caused by the flood. "We extend our sincere condolences to the families and loved ones of those who lost their lives, and our thoughts are with all those affected by this disaster."
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 10:15
https://www.zerohedge.com/geopolitical/terrifying-video-captures-day-after-tomorrow-swallowing-entire-china-nepal-border

2026-08-26 14:00:00 UTC

"This Is Crazy" - FTC Chair Responds To Soaring Chip Costs, Floats Possible Antitrust Action
"This Is Crazy" - FTC Chair Responds To Soaring Chip Costs, Floats Possible Antitrust Action
We’ve covered soaring “https://www.zerohedge.com/markets/shocking-impact-memory-chipflation-soaring-producer-prices-morgan-stanley-deep-dive” for months and the trend does not seem to be abating. Nvidia is reportedly https://www.zerohedge.com/ai/nvidia-informs-hyperscalers-about-incoming-price-hikes-memory-costs-soar its largest customers to expect price hikes of at least 15% for next year, possibly to set expectations of a still larger move upward… and meanwhile the semi component in the PPI looks like a 2021 memecoin:
https://cms.zerohedge.com/s3/files/inline-images/image2%20%281%29.jpg?itok=HNMtnYrS
All this has earned the attention of FTC Chair Andrew Ferguson, who apparently enjoys building his own personal computers. In an https://www.youtube.com/watch?v=8Pu8oxMrYKk last week in Aspen, Ferguson said he was floored by the recent explosion in prices.
“I build my own desktops at home mostly for fun, and a year ago, I decided that my rig needed to be updated, and I was like, ‘Oh well, you know, RAM is pretty cheap right now, maybe I’ll do that.’ And then the job got busy, and I was like, ‘I’ll take a look at this later.’ In six months, I looked at RAM prices and went, ‘Oh my God, I’m not building this right now. This is crazy.’”
As we https://www.zerohedge.com/economics/soaring-memory-prices-push-core-pce-05-higher-fed-issues-red-alert-soaring-chip-costs, consumer electronics across the board are forecasting price hikes in the double digits, with Samsung tablets and Xbox consoles expected to increase by 20-25% by next year, per Haver Analytics. On this topic, Ferguson added that he “[does not] want consumers to have to pay way more for chips than they have to for all sorts of other applications, including the phones that we have cast all about us.”
And just yesterday, Amazon https://techcrunch.com/2026/08/24/amazon-hikes-hardware-prices-by-60-percent-blaming-memory-shortage/ 60% price hikes for its major hardware products, blaming the chip shortage.
https://cms.zerohedge.com/s3/files/inline-images/Screen%20Shot%202026-08-24%20at%205.06.34%20PM.jpg?itok=81IusCKu
In April, Senator Bernie Moreno, who represents many car manufacturers in Ohio, https://www.moreno.senate.gov/newsroom/press-releases/moreno-calls-to-restrict-sale-of-memory-chips-abroad-until-u-s-auto-industry-fully-supplied/ to Commerce Secretary Howard Lutnick asking the government to restrict chip exports to increase domestic supplies, citing concern that the American auto industry won't be able to compete on the global market due to "higher prices and supply delays" of chips.
FTC Chair Ferguson floated the idea of using antitrust measures to crack down on some of the chip giants, in an effort to “focus on the meat and potatoes” of what’s fueling the broader AI-related inflation crisis.
“That we can do,” he said when asked about whether his agency could intervene. “That’s just ordinary industrial organization economics and antitrust,”
https://cms.zerohedge.com/s3/files/inline-images/Screen%20Shot%202026-08-24%20at%204.57.43%20PM.jpg?itok=6WkJP4-8
“We know when consolidation there becomes dangerous. We know when agreements are likely to raise prices or reduce competition or cut off innovation, as opposed to trying to get out in front of the AI developers,” Ferguson continued. “It would be insane for a regulator to say, ‘I know where it’s going, and I’m going to make predictive regulatory choices on that basis.’ But further back in the supply chain, that we can apply ordinary antitrust to.”
Pressed on a hypothetical merger between Nvidia and chip designer ARM, the chairman appeared to issue a soft warning.
“I think if Nvidia and ARM were to merge, we would have to take a very careful look at that,” Ferguson said. “That is antitrust enforcer speak for, you know, we would have concerns.”
Ferguson said earlier in the conversation that keeping AI’s raw inputs competitive is his top antitrust priority.
“I want to make sure that the markets for the inputs for AI remain competitive. I don’t want there to develop overnight sudden bottleneck monopolies in the inputs for AI that deprive downstream users of the benefits of competition because someone upstream in the supply chain gets to jack up everyone’s prices because it’s enjoying a monopoly and maintaining it illegally,” he said.
Some foreign chip makers are already under fire for potential collusion and price fixing.
In June, a class action lawsuit was filed against the three dominant DRAM makers - South Korea's Samsung and SK Hynix and America's Micron. The lawsuit alleges that the three companies, which control ~90% of the DRAM semiconductor, have conspired to restrict the supply of memory and have driven prices up 697% compounded by 2022 to 2026. The lawsuit alleges all three companies had simultaneous production cuts and have not expanded supply despite record prices.
The lawsuit notes: “DRAM is embedded in virtually every electronic device manufactured today. When Defendants coordinate to restrict DRAM supply and inflate prices, the cost increase is passed through to consumers across every one of these product categories—smartphones, PCs, gaming consoles, servers, automobiles, and consumer electronics. No device category escapes the impact.”
If found guilty, it wouldn’t be the first time.
In the mid-2000s, https://www.justice.gov/archive/opa/pr/2005/October/05_at_540.html and https://www.justice.gov/archive/opa/pr/2005/April/05_at_207.htm pleaded guilty to fixing DRAM prices. Samsung paid a whopping $300 million fine, the second largest criminal antitrust fine in U.S. history at the time.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 10:00
https://www.zerohedge.com/economics/crazy-ftc-chair-responds-soaring-chip-costs-floats-possible-antitrust-action

2026-08-26 13:19:12 UTC

Meta Settles With US States For $16.7 Billion Over Social Media Harms To Children
Meta Settles With US States For $16.7 Billion Over Social Media Harms To Children
Meta Platforms has reached a $16.7 billion settlement to resolve a landmark claim brought by several states that the company designed Instagram and Facebook to addict children, improperly collected children's personal data, and misled consumers about their safety.
https://cms.zerohedge.com/s3/files/inline-images/29966380-9240-11f1-b2ab-0dd01740f9f6_80_80.jpg?itok=I0o5H2Iz
The deal was in a Wednesday court filing in California after a lawsuit was brought by 29 states - with attorneys for Colorado, California, New Jersey and Kentucky - leading the group. The states argued that features like infinite scroll were purposely engineered to keep young users hooked, that Meta misled the public about the safety of its platforms for adolescents, and that the company improperly collected and monetized children's personal data in violation of federal law.
As part of the settlement, Meta must implement daily usage limits and 'nighttime blocks' for teenagers who use the company's apps like Facebook and Instagram, as well as "enhanced age assurance measures" that would prevent children from using them, and also providing parents with additional tools, CNBC https://www.cnbc.com/2026/08/26/meta-social-media-trial-settlement.html.
Prior to the settlement, Meta warned that maximum statutory penalties could theoretically reach $1.4 trillion, while the attorneys general have indicated they may seek around $200 billion.
Shares spiked as much as 5% premarket on the news:
h ttps://x.com/TrwendSpider/status/2092360371138932969?s=202 https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url_80%2866%29.jpg?itok=2pmIpkZl
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 09:19
https://www.zerohedge.com/markets/meta-settles-us-states-17-billion-over-social-media-harms-children

2026-08-26 13:05:00 UTC

Oil Extends Decline As Rubio Rules Out New Strikes, Iran-Oman Transit Deal Nears Finalization
Oil Extends Decline As Rubio Rules Out New Strikes, Iran-Oman Transit Deal Nears Finalization
An IRGC spokesman has announced Wednesday that Iran and Oman have reached agreements on their share of the Strait of Hormuz and its revenues, according toTasnim news agency. So essentially the "fee" scheme has been set. There's talk of reopening the strait on an "interim" basis, Bloomberg says.
"We entered into negotiations with Oman about a month ago and have reached results that have been accepted by both sides," the official https://www.aljazeera.com/news/liveblog/2026/8/26/iran-war-live-iran-says-hormuz-remains-closed-despite-oman-rout-deal?update=4886313. "Agreements have been reached on the share of each country in the waters of the strait and the share of Iran and Oman in its revenues," the statement continued, while also alleging that negotiations were previously delayed only due to the US obstructing negotiations.
https://assets.zerohedge.com/s3fs-public/inline-images/boatsstrait.jpg?itok=vkAs1mWG
Tehran is still insisting on the United States lifting its naval blockade of the country's ports. However, it seems that for now at least Tehran is open to some level of negotiations, or at least seems content to see where this current period of rare calm leads.
This is evident in the latest words of Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who argued Wednesday that any negotiations with the US don't equate to retreat from Iran's demands.
"Negotiation, in my view, has neither intrinsic value nor is it a taboo; it is neither absolutely good nor absolutely evil," he https://www.aljazeera.com/news/liveblog/2026/8/26/iran-war-live-iran-says-hormuz-remains-closed-despite-oman-rout-deal?update=4886313 in a letter responding to more hardline critics, IRNA reports.
He insisted this does not mean abandoning resistance to US-Israeli aggression. "If necessary, dialogue, too, according to this logic, is the same arena of struggle and resistance; neither a replacement for it nor a sign of retreat from it," he said.
Ghaliban further suggested this is being done by the Islamic Republic from position of strength while holding on to the nation's "dignity, wisdom and interests."
Meanwhile, it seems Washington is also in no mood to rush back into military action, following the Monday announcement by Scott Bessent of the Economic D-Day action against Iran, which is to including secondary sanctions on any country found not complying.
On Wednesday, Secretary of State Marco Rubio told several foreign officials in recent days that "for the time being" the US is not planning to initiate any new strikes against Iran, but instead the focus is on other means of pressure, especially the sanctions initiative, Axios reports. According to https://www.axios.com/2026/08/25/rubio-iran-war-hormuz-oil:
- The U.S. official said that while Rubio made clear that the U.S. isn't planning a return to major combat operations, he didn't rule out https://www.axios.com/2026/07/29/us-airstrikes-iran-trump-resume if Iran attacks first.
- Another U.S. official said the https://www.axios.com/2026/08/25/hormuz-mines-remove-oil-iran-trump from the Strait of Hormuz by the U.S. Navy is a watershed moment in the war, largely neutralizing one of Iran's main sources of leverage.
Also on Wednesday, Iranian Foreign Minister Abbas Araghchi and his Omani counterpart Badr Albusaidi confirmed their further work on the “interim framework” aimed at resuming shipping through the Strait of Hormuz, according to a joint statement.
State television has indicated Iran and Oman agreed that the new transit corridor would enter through Iranian territorial waters, with part of the exit route also passing through them. The corridor will span roughly seven miles.
On this and other headlines, oil prices continue to fall...
- Oil extends declines as Iran, Oman continue finalizing talks to reopen Hormuz
- Satellite image shows surge in Iraq’s Persian Gulf oil loadings
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_06-07-00.jpg?itok=afICVeSs
A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran.https://x.com/hashtag/OOTT?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/IranWar?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/Tankers?src=hash&ref_src=twsrc%5Etfw https://t.co/TAba26mJiW
— TankerTrackers.com, Inc. (@TankerTrackers) https://x.com/TankerTrackers/status/2092328933739864323?ref_src=twsrc%5Etfw
The day prior, on Tuesday, President Trump hinted that military options are still on the table. While announcing the new claim that all mines had been detonated or removed from international waters of the Strait of Hormuz, he said the US Space Force was watching "every square inch" of the Strait, and that "There is ⁠a Zero Tolerance policy ‌on mine ‌placement in full force and effect." But Iran is https://www.arabnews.com/node/2655870/middle-east asserting that the strait remains "closed".
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 09:05
https://www.zerohedge.com/energy/oil-extends-decline-rubio-rules-out-new-strikes-iran-oman-transit-deal-nears-finalization

2026-08-26 12:43:16 UTC

Fed's Favorite Inflation Indicator Ticks Up In July As Americans Suddenly Start Saving More
Fed's Favorite Inflation Indicator Ticks Up In July As Americans Suddenly Start Saving More
Following the CPI and PPI internals, this morning's PCE data should not offer too many surprises with expectations for the headline price Index to rise just 0.1% MoM in July (after deflating for the first time since COVID in June).
The (old) Fed's favorite inflation indicator - Core PCE (a measure of price changes in consumer goods and services that excludes volatile food and energy costs) - printed in line with expectations (+0.2% MoM and +3.3% YoY), a very slight uptick...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-31-44.jpg?itok=RKxZqsv3
Services costs continue to dominate the inflationary picture...
https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url%20%2823%29_7.jpg?itok=8cthO-FS
The headline PCE rose 0.2% MoM (hotter than the +0.1% MoM expected) with a small uptick for the YoY at +3.7%...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-33-06.jpg?itok=pI1MDo_I
Non-durable goods prices continued to deflate in July...
https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url%20%2821%29_9.jpg?itok=SCc8xPYG
The much-watched SuperCore PCE (Services ex-shelter) saw price inflation slow on a YoY basis...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-48-34.jpg?itok=JZxaMGF6
The decline in crude prices dragged the Energy component of PCE lower...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-34-12.jpg?itok=6rEQoPyy
Ironically, while semiconductor prices are major contributors to inflation, it turns out that a rising (or now sideways/falling) stock market is also driving up aggregate prices as portfolio management service costs soar...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-35-05.jpg?itok=i-oPqLPl
Higher prices were met with higher spending (+0.2% MoM notional) and higher income growth (+0.4% MoM) - both stronger than expected...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-36-41.jpg?itok=TrXkfnes
Income and spending annual growth is slowing...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-37-47.jpg?itok=bS9h0QNt
On the income side, both public and private worker wage growth slowed:
-
Govt worker wages drop to just 1.4% YoY, lowest since March 2021
-
Private worker wages drop to 3.8% from 4.6%, lowest since March 2026
https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url%20%2822%29_6.jpg?itok=fgnLOlSO
Real personal spending growth dipped notably...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-26_05-42-16.jpg?itok=BC6FYixK
...which might help explain why the savings rate inflected higher from four year lows...
https://cms.zerohedge.com/s3/files/inline-images/get_attachment_url%20%2820%29_9.jpg?itok=ey8SL6J1
Will today's disinflationary print (following CPI and PPI) offer Warsh some leeway in his speech on Friday to push back against the endless hawks?
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 08:43
https://www.zerohedge.com/economics/feds-favorite-inflation-indicator-ticks-july-americans-suddenly-start-saving-more

2026-08-26 12:05:00 UTC

Colombia's New President Orders Immigration Raids, Vows To Deport Illegal Immigrants
Colombia's New President Orders Immigration Raids, Vows To Deport Illegal Immigrants
https://cmsapi.theepochtimes.com/world/colombias-new-president-vows-to-deport-illegal-immigrants-6079141?utm_source=partner&utm_campaign=ZeroHedge,
Colombia's new president has ordered immigration raids this week and promised deportations of immigrants without legal status.
https://cms.zerohedge.com/s3/files/inline-images/id6079219-GettyImages-2289735020-AV-1200x800_80.jpg?itok=AfYokxWp
President Abelardo de la Espriella, sworn in three weeks ago, described the move as a crucial step in reducing crime.
The order went out during a security council session in Barranquilla, with police and the national migration agency tasked with the job. Operations are set to begin this week.
"I will not accept any illegal immigrants, wherever they come from," De la Espriella said in a video posted Sunday on his X account. "They will have to leave and be deported. It is a political decision I am taking responsibility for."
He is prioritizing those committing crimes, but will also focus on those lacking legal status to be in the country.
"Colombians must come first, second and third," he said. "Let the coordinated operations begin to find illegal immigrants, first those committing crimes, then those whose status is not regularized."
Approximately 2.8 million Venezuelans live in Colombia, representing the largest such group outside their country. Most fled economic collapse and political pressure at home, with previous governments under Presidents Ivan Duque and Gustavo Petro issuing temporary residence permits. Approximately 2.3 million Venezuelans held them as of July, according to the migration service.
Hundreds of thousands still lack regular status. Officials have not released an exact current count of those facing removal, and De la Espriella did not single out any nationality by name. Venezuelans make up the vast majority of foreigners in Colombia, a nation of 54 million people.
The president, a conservative closely aligned with President Donald Trump, took the oath on Aug. 7 in Cali. His campaign stressed security and a "Colombia first" approach.
Duque's administration rolled out the main temporary protection program in 2021 at the height of the outflow from Venezuela, and Petro kept much of it in place.
Colombia shares a long, open border with Venezuela. This week's announcement marks a clear break. For nearly a decade, Colombia absorbed the largest share of Venezuelans leaving their country. Humanitarian groups and successive governments treated the flow as a regional challenge requiring accommodation.
Arles Pereda, head of an association of Venezuelans in Bogota, Colombia's capital, said the new policy was troubling because the two earthquakes that hit Venezuela in June sent a new influx of immigrants into Colombia seeking opportunity.
Catherine Juvinao Clavijo, a member of Colombia's House of Representatives, was also unhappy with the new president's policy, posting on X that De la Espriella was "playing at a homegrown MAGA."
"It's heartbreaking to see so much xenophobia toward our brothers and neighbors and so much servility toward governments to whom we owe nothing," she said in her Monday post.
The U.S. Department of State in March https://cmsapi.theepochtimes.com/us/us-state-department-issues-travel-advisory-for-colombia-6006581?utm_source=partner&utm_campaign=ZeroHedge its travel advisory for the Republic of Colombia, retaining a "Level 3: Reconsider Travel" warning for the nation.
"Street crime occurs throughout Colombia and can quickly become violent," the department advised. "If you are targeted by criminals, do not resist."
Colombia also faces risks of terrorist violence. Attacks could target U.S. government or local government facilities, tourist areas and attractions, shopping malls and markets, clubs, airports, restaurants, hotels, and transportation centers, with little to no warning, the advisory said.
"Police procedures and investigations in Colombia differ from those in the United States, and crimes against tourists are not always prosecuted," the advisory stated. "This can be a source of frustration for victims."
The Associated Press contributed to this report.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 08:05
https://www.zerohedge.com/geopolitical/colombias-new-president-orders-immigration-raids-vows-deport-illegal-immigrants

2026-08-26 11:20:00 UTC

US-Canada Trade War Threatens Electricity Imports, Prices
US-Canada Trade War Threatens Electricity Imports, Prices
By Robert Walton of https://www.utilitydive.com/news/us-canada-trade-war-threatens-electricity-imports-prices/828689/?utm_source=Sailthru&utm_medium=email&utm_campaign=Issue:%202026-08-25%20Utility%20Dive%20Newsletter%20%5Bissue:88505%5D&utm_term=Utility%20Dive
An escalating trade war between the United States and Canada is once again threatening to ensnare the electric power sector at a time when consumers are already stretched thin.
https://cms.zerohedge.com/s3/files/inline-images/trump%20carney.jpg?itok=yKaKzHMR
Canada is expected to https://apnews.com/article/canada-trade-trump-ontario-53c4f83c8365c14b372b314396ae8179 on U.S. goods Tuesday after President Donald Trump’s 50% https://www.pbs.org/newshour/economy/what-to-know-about-trumps-50-tariffs-on-canadian-goods-that-just-went-into-effect went into effect over the weekend, with threats of more on the way.
On Monday, Ontario Premier Doug Ford told the Associated Press that “https://apnews.com/article/canada-trade-trump-ontario-53c4f83c8365c14b372b314396ae8179,” including halting the province’s critical minerals and electricity exports entirely. The BBC reported Ford said he and Canadian Prime Minister Mark Carney https://www.bbc.com/news/live/cmd94dl9pyqgt.
In 2025, amid a previous trade dispute, https://www.utilitydive.com/news/ontario-tariff-power-electricity-exports-isone-nyiso/742124/ The two sides eased tensions shortly thereafter, https://www.utilitydive.com/news/ontario-suspends-electricity-tariff-trump-energy-emergency/742282/
ISO New England, in a statement to Utility Dive, said that if Canada opted to reduce or eliminate electricity trade, it “would not anticipate reliability issues tied to reduced imports, at least under typical weather conditions.”
Under extreme temperatures, however, supplies in New England “could become tight, but that would hinge on many factors that are difficult to project,” the grid operator added.
“It’s also important to note that power flows both ways between the New England and our Canadian neighbors these days,” it continued. “In the event Canadian provinces reduce (or entirely cut) the amount of electricity they are sending to New England, we would expect the impact to largely be financial, in the form of higher wholesale market prices. We would also anticipate emissions in the region increasing.”
The U.S. Energy Information Administration, earlier this month, highlighted the growing value of electricity and natural gas trade between the two countries.
“The value of electricity trade between the United States and Canada totaled $3.2 billion in 2025, https://www.eia.gov/todayinenergy/detail.php?id=67924,” EIA analysts noted. Electricity trade between the two countries “is relatively small compared to trade in other energy sources.”
The two countries’ electricity sectors are more intertwined today, however. In June, North America’s longest fully-buried transmission line began delivering Canadian hydropower to New York City. The $6-billion Champlain-Hudson Power Express is https://www.utilitydive.com/news/Champlain-Hudson-transmission-hydro-nyc/823115/.
The New York ISO is in “close and regular contact with Hydro Quebec and Ontario’s Independent Electricity System Operator,” Kevin Lanahan, senior vice president of external affairs and corporate communications for the grid operator, said in a statement to Utility Dive.
“The NYISO anticipates having adequate supplies to meet expected demand on the system,” Lanahan said.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 07:20
https://www.zerohedge.com/energy/us-canada-trade-war-threatens-electricity-imports-prices

2026-08-26 10:55:00 UTC

Oil Dumps As Iran, Oman Push To Reopen Hormuz; Satellite Image Shows Gulf Producers Ramping Up
Oil Dumps As Iran, Oman Push To Reopen Hormuz; Satellite Image Shows Gulf Producers Ramping Up
Brent crude futures dropped for a third session as Iran and Oman advanced plans for a temporary maritime corridor through the Strait of Hormuz.
Brent tumbled to $85 a barrel early Wednesday, down more than 9% for the week, while West Texas Intermediate traded around $80. Crude remains up more than 41% this year following the US-Iran conflict and ongoing disruptions at the Hormuz chokepoint.
https://cms.zerohedge.com/s3/files/inline-images/Snag_39e4b735.png?itok=rIcfhFys
Earlier, Oman's state news agency reported that Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr Albusaidi discussed an "interim framework" establishing a temporary joint shipping corridor.
Iranian Deputy Foreign Minister Kazem Gharibabadi said both countries agreed on a temporary route and intend to negotiate a permanent corridor within 30 to 60 days, according to Tasnim. No timeline has been given for when the temporary deal to reopen the critical waterway would begin.
Talk of an interim deal comes as oil loadings from Iraq's Persian Gulf export terminals surged at the beginning of the week, offering one of the clearest signals yet that regional Gulf producers expect Hormuz tensions to dissipate.
Satellite imagery showed seven tankers collecting Iraqi cargoes, with a combined carrying capacity of roughly 13 million barrels, according to Bloomberg.
Maritime research firm TankerTrackers also reported on X, saying, "A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran."
A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran.https://x.com/hashtag/OOTT?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/IranWar?src=hash&ref_src=twsrc%5Etfw https://x.com/hashtag/Tankers?src=hash&ref_src=twsrc%5Etfw https://t.co/TAba26mJiW
— TankerTrackers.com, Inc. (@TankerTrackers) https://x.com/TankerTrackers/status/2092328933739864323?ref_src=twsrc%5Etfw
"It seems crude is now beginning to price in a sooner rather than later peace deal," said Dennis Kissler, senior vice president for trading at BOK Financial Securities, who Bloomberg quoted.
Kissler noted, "With some oil still getting through the strait, Iran and the US are more likely to be in a newer state of de-escalation as both sides are looking for an off-ramp."
By now, readers know that the energy crisis is not necessarily about crude, but rather refined products, as diesel crack spreads in the US topped $100 a barrel. The good news is that, by midweek, the spread was trading around $88.
https://cms.zerohedge.com/s3/files/inline-images/Snag_39e648e2.png?itok=PP8nySSl
Related:
- https://www.zerohedge.com/commodities/diesel-crack-spread-madness-deepens-jefferies-finds-no-easy-exit-russias-refining
Last week, veteran commodities strategist Jeff Currie detailed on X that the next commodities bull market was poised for another leg higher (https://www.zerohedge.com/commodities/get-long-and-buckle-jeff-currie-says-commodity-bull-market-entering-next-leg).
The latest developments in the Gulf are promising signals, but an interim framework should not be mistaken for a durable normalization of regional tanker transits through the maritime chokepoint. Previous de-escalation efforts have repeatedly broken down, often returning the region to drone attacks on tankers and short-lived military tit-for-tat bombing campaigns. Until a permanent and enforceable shipping deal is set in stone, the Hormuz risk premium is likely to remain embedded across crude and refined-product markets.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 06:55
https://www.zerohedge.com/energy/oil-dumps-iran-oman-push-reopen-hormuz-satellite-image-show-gulf-producers-ramping

2026-08-26 09:45:00 UTC

Why Data Centers Favor On-Site Gas Power
Why Data Centers Favor On-Site Gas Power
Most data center developers opting for on-site gas power say that they see it as a “bridge” solution until a grid connection is secured. Yet economics may favor keeping those assets running even after grid power becomes available.
A recent BloombergNEF analysis shows the marginal cost of operating an on-site gas plant may be below industrial electricity tariffs, making continued generation from on-site assets the cheaper option in many cases.
Marginal generation costs depend on fuel prices and variable operating expenses. BloombergNEF modeled the marginal cost of operating engines, turbines and fuel cells at a mid-scenario gas price of $3.97 per million British thermal units. Gas engines, such as ones manufactured by Wartsila and INNIO, have the highest marginal cost, at $43.2 per megawatt-hour (MWh). Fuel cells, most prominently procured from Bloom Energy, are the cheapest to continue running, at $21.5/MWh, benefiting from high thermal efficiencies and the lowest variable operational cost.
https://cms.zerohedge.com/s3/files/inline-images/on%20site%20gas.jpg?itok=Txelw2op
Securing a grid connection does not necessarily make on-site generation redundant. Developers can continue using gas plants to supply most of a facility’s electricity while relying on the grid for reliability, reserve them for backup or peak demand, or in some cases export electricity to the grid.
The optimal operating strategy will depend on the relative cost of grid electricity, fuel prices and the marginal cost of operating the gas plant. More efficient technologies such as fuel cells and combined-cycle gas turbines are likely to be dispatched more frequently because of their lower running costs.
The contracted electricity price will ultimately determine how often developers rely on the grid. Industrial electricity tariffs are forecast to average $88.6/MWh in 2027, while wholesale power prices are expected to range from $24.4/MWh to $74.7/MWh, according to the US Energy Information Administration.
Developers with access to low electricity prices may increasingly shift demand to the grid, while those paying the highest industrial tariffs could continue to favor on-site generation even after their grid connection is in place.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 05:45
https://www.zerohedge.com/energy/why-data-centers-favor-site-gas-power

2026-08-26 06:45:00 UTC

US Removes Syria, Including Al-Nusra Front, From Its List Of Terrorism Sponsors
US Removes Syria, Including Al-Nusra Front, From Its List Of Terrorism Sponsors
Following a decade-and-a-half of a Washington-led full economic siege of the Syrian state, and after a fierce CIA-backed proxy war (https://www.nytimes.com/2017/08/02/world/middleeast/cia-syria-rebel-arm-train-trump.html) to oust Assad over that same period, this week has witnessed the huge milestone of the United States finally removing Syria from its state sponsors of terrorism list.
The designation itself had stretched back several decades, and it placed major hurdles in the way of international investment, but with the Monday move by the State Department many of the related sanctions have now been eased.
https://cms.zerohedge.com/s3/files/inline-images/aqhts.jpg?itok=WzRP_wUV
"Today’s action will help foster additional investment in Syria to promote political and economic stability," Treasury Secretary Scott Bessent said, signaling new US efforts to help the war-ravaged country recover.
Of course, this came only after it was 'mission accomplished' in terms of overthrowing the secular Ba'ath government of Bashar al-Assad. He fled the country in December 2024, as Jolani's al-Qaeda linked militant group Hayat Tahrir al-Sham entered Damascus, and since then there have been widespread reports of an 'Islamization' of the capital and various other cities and towns. The first year of Jolani's rule witnessed thousands of religious minorities kidnapped or slaughtered - with Alawites and Druze particularly targeted, but also many Christians.
The whole population was brought to its knees by the long-running sanctions, resulting in runaway inflation and soaring food prices, as wages remained stagnant - also as petrol became hard to come by (and as US soldiers occupied Syria's eastern oil and gas fields which previously met domestic fuel needs).
The delisting exposes an ultra-ironic and deeply awkward reality: Al Nusra Front, which is Syrian Al Qaeda (and was founded by the self-declared president Ahmed al-Sharaa, aka Jolani) is no longer deemed a terror organization. According to the https://www.nytimes.com/2026/08/25/world/middleeast/us-syria-terrorism-list-sanctions.html:
The removal of the state sponsor of terror designation on Monday came after a U.S. congressional review process and after Syria joined the Global Coalition to Defeat the Islamic State, https://www.state.gov/releases/office-of-the-spokesperson/2026/08/rescission-of-syrias-designation-as-a-state-sponsor-of-terrorism/. The United States also revoked the terrorism designation for Hayat Tahrir al-Sham, a rebel group that was headed by Mr. al-Sharaa and that was previously known as the Al Nusra Front, the State Department said.
It also once again highlights that when Trump on multiple occasions met President Sharaa, he was literally palling around with with an officially designated terrorist (and who until recently had a $10 million FBI bounty on his head).
It wasn't just the US which supported jihadist groups seeking the overthrow of Assad, but Turkey, Saudi Arabia, Qatar, and the UAE also played a big role (and Israel too at times admitted its support).
Saudi Arabia is among those welcoming the sanctions relief news on Tuesday. Its foreign ministry congratulated the Syrian government and people, expressing hope for security, stability and prosperity.
Can't make this up: Top Syrian envoy to the United States once kidnapped Americans for Nusra Front/HTS...
My interview with the Syrian chargé d'affaires to the US back when he was a member of Jabhat al-Nusra. https://t.co/g0NSaH1WUp
— Lindsey Snell (@LindseySnell) https://x.com/LindseySnell/status/2081995158116036682?ref_src=twsrc%5Etfw
Syria had been on the State Sponsor of Terrorism for 47 years. So essentially the US waged a near half-century 'long war' for regime change against Bashar and his father Hafez al-Assad before him.
As for the lifting of sanctions, they ultimately hit the common populace the hardest - whether they be Christians, Muslims, Alawites or Druze - and so at the very least hopefully normal people can have some relief going forward.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/26/2026 - 02:45
https://www.zerohedge.com/geopolitical/us-removes-syria-including-al-nusra-front-its-list-terrorism-sponsors

2026-08-26 01:45:00 UTC

DEA Seized 47 Million Fentanyl-Laced Counterfeit Pills In 2025
DEA Seized 47 Million Fentanyl-Laced Counterfeit Pills In 2025
https://www.theepochtimes.com/us/dea-seized-47-million-fentanyl-laced-counterfeit-pills-in-2025-post-6078602?utm_source=partner&utm_campaign=ZeroHedge,
The U.S. Drug Enforcement Administration (DEA) confiscated more than 47 million fentanyl-laced counterfeit pills and almost 10,000 pounds of fentanyl powder in 2025.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281082%29.jpg?itok=NZrNSWtd
The seized narcotics are equivalent to 369 million lethal doses of fentanyl, according to an announcement made by the Department of Justice (DOJ) in an Aug. 21 post on X as part of the National Fentanyl Prevention and Awareness Day. So far this year, the total fentanyl seized by the DEA represents more than 239 million deadly doses.
"Just 2 milligrams - smaller than a grain of salt - can kill. This Justice Department is committed to combating the fentanyl crisis and keeping Americans and our communities safe," the post said.
In an Aug. 21 statement, the DEA asked the public to remain aware of the threat fentanyl poses to American communities, highlighting that the synthetic opioid is around 100 times more potent than morphine and about 50 times more potent than heroin.
Mexican cartels CJNG and Sinaloa Cartel are pressing fentanyl into counterfeit pills with a similar appearance to prescription medications such as Xanax, oxycodone, and Percocet. The criminal groups are also mixing fentanyl with cocaine, methamphetamine, and heroin. Both Sinaloa Cartel and CJNG were designated Foreign Terrorist Organizations last year.
According to the DEA, many people who were poisoned with fentanyl didn't even know they were ingesting the substance. The department asserted that the only safe medications are those coming from accredited and licensed medical professionals.
"Parents are often the first line of defense in protecting our children from the dangers of fentanyl and counterfeit pills," Farhana Islam, DEA New York Enforcement Division special agent in charge, said in the statement. "A single conversation can provide the knowledge that saves a life."
According to Customs and Border Protection (CBP) data, for fiscal year 2026 through July, the agency has seized 9,600 pounds of fentanyl. In the entirety of fiscal year 2025, 12,000 pounds were confiscated.
In a May 13 statement, the Centers for Disease Control and Prevention said that synthetic opioids such as fentanyl accounted for the largest share of deaths by drug overdose in the United States last year. Psychostimulants, including meth, were in second place.
China Fentanyl Supply
According to a September 2025 report from the Government Accountability Office, most of the fentanyl trafficked into the United States comes from Mexico, and the chemicals and equipment used to manufacture narcotics come from China.
The Trump administration has taken action to stem the outflow of fentanyl precursors from China. In November 2025, FBI Director Kash Patel https://www.theepochtimes.com/us/fbi-director-says-china-agreed-to-curb-fentanyl-precursors-5943708?utm_source=partner&utm_campaign=ZeroHedge at a press briefing that Beijing has reportedly committed to restrict the export of 13 fentanyl precursor chemicals to Mexico, Canada, and the United States.
In December 2025, President Donald Trump https://www.theepochtimes.com/us/trump-designates-fentanyl-as-weapon-of-mass-destruction-5958652?utm_source=partner&utm_campaign=ZeroHedge an executive order designating fentanyl as a weapon of mass destruction. Trump warned that adversaries were trafficking fentanyl into the United States, partly to kill Americans.
"They're trying to drug-out our country," Trump said. "You can look throughout history. Look at China when they were loaded up with drugs; they were suffering greatly, and others were able to take them over.
"No bomb does what this is doing," Trump said.
Trump said there has been a 50 percent decline in the amount of fentanyl coming across the border, highlighting that Beijing has been working with Washington to cut down smuggling of these narcotics.
In June, Rep. Young Kim (R-Calif.) said during a House subcommittee hearing on the Chinese communist regime's role in the fentanyl crisis that Beijing subsidizes the export of at least 17 deadly chemicals that have zero legal use.
When China announces restrictions on one precursor chemical, manufacturers in the country simply shift to another precursor, according to Kim.
"Why does Beijing allow these factories of death to remain open? Because the Chinese Communist Party sees strategic value in America's suffering. It has repeatedly chosen geopolitical leverage over human life," she said.
https://cms.zerohedge.com/users/tyler-durden
Tue, 08/25/2026 - 21:45
https://www.zerohedge.com/political/dea-seized-47-million-fentanyl-laced-counterfeit-pills-2025

2026-08-23 16:15:00 UTC

Did Canada Just Sign Its Own Economic Death Warrant?
Did Canada Just Sign Its Own Economic Death Warrant?
Canadian Prime Minister and WEF globalist Mark Carney has been a disaster for Canada since he entered office. There were many critics who believed the Trudeau regime could not be topped in terms of self destructive behavior, but one could easily argue that Carney is far more dangerous and far more devious.
This week the Canadian government abandoned a nearly finalized trade deal with the US in the final hour of talks, leaving many analysts (and Canadians) bewildered.  According to U.S. Trade Representative Jamieson Greer and related reports on the negotiations, the U.S. offered significant tariff reductions that would have given Canada preferential treatment relative to other major exporters.
https://cms.zerohedge.com/s3/files/inline-images/Carney1.jpg?itok=cX7lgny_
The offer included a reduction of tariffs on steel from 50% to 25%, a reduction on Canadian autos from 25% to 15%, a removal of the 10% tariff on Canadian lumber and cooperation on numerous other measures, representing the best deal offered in comparison to any other country which relies on heavily US markets. Carney abruptly ordered negotiators to walk away, claiming the deal was "not good enough", and declared further retaliation against the US.
So basically, Carney is saying:
Canadians will lose buying power, pay more for goods, and lose jobs, but it’s a sacrifice I’m willing to make to save face with the “elbows up” crowd. https://t.co/cGVMnahbxy
— Pascal Anglehart (@DemosKratosCA) https://x.com/DemosKratosCA/status/2091241500638404763?ref_src=twsrc%5Etfw
As of this moment 50% tariffs have been implemented on the majority of Canadian goods - The sudden shift represents economic suicide for Canada given their deep dependence on the US. And what Carney doesn't tell Canadian citizens is, there are no practical alternatives to fill the trade void left behind.
Around 78% of all Canadian exports rely on US consumer markets. These goods and resources only make up around 13% of all US imports. Meanwhile, around 15% of US exports go to Canada. In the US, exports make up 11% of total GDP. In Canada, exports make up 33% of GDP.
Economic is partially about psychology, but it's mostly about numbers, and the numbers just don't add up for the "Great White North". By every metric, Canada needs the US more than the US need Canada. Without these exports, Canada would suffer severe instability within a few years.
The Canadian Central Bank, though, has tried to dismiss the dangers of prolonged trade disruptions with the US and Carney has sought to temper public concerns with posturing and bluster:
“You’re at war when you get attacked. We got attacked.”
This "war" rhetoric from the Prime Minister has been constant since he entered office - A clear attempt to sensationalize trade negotiations and excite the Canadian public with existential fears. Bizarrely, Carney insinuated that the US was threatening Canada's sovereignty, culture and languages. The hypocrisy of a devout globalist pontificating about national culture and "sovereignty" is stomach churning, but these declarations are highly strategic.
‼️Just in - Mark Carney addresses Americans in French:
-to my American collegues, let me be CLEAR ... our culture, French language and our soverignty are NOT on the table
-announces SWEEPING retaliatory tariffs on American goods
He will burn us to the ground for Quebec. https://t.co/2OaPPhplSO
— Tablesalt 🇨🇦🇺🇸 (@Tablesalt13) https://x.com/Tablesalt13/status/2091187230081425513?ref_src=twsrc%5Etfw
Carney has been pursuing trade deals with the EU and China in an attempt to "replace" US markets and save Canadian exports. These agreements are being hailed by the Davos crowd https://www.cbsnews.com/news/canada-mark-carney-speech-davos-trump-rupturing-world-order/ that decouples from the US economy. However, there are a number of problems.
The US makes up over 30% of total global consumer markets. The entirety of the EU makes up around 15% of consumer markets and China makes up around 12%. Together these regions still don't fill the hole left by the US, and there are numerous expenses attached.
China regularly enforces tariffs on Canada, while shipping goods overseas to Europe or Asia adds price hikes to Canadian goods that would not be an issue in trade with the US. Meaning, they will sell far less overseas.
Furthermore, Chinese trade deals tend to come with strings attached. China is seeking economic and resource expansion into Canada, which is ruffling feathers among Canadian companies and citizens. Beyond that, the CCP often demands influence over government policy within the smaller countries it partners with economically (Canada's relationship with Taiwan has been a point of contention as the CCP exerts pressure).
This is Carney today admitting that limiting trade with China due to forced labor practices was part of the deal he walked away from.
Translation - Ya we care about forced labor, but not enough to stop dealing with Chinese markets that may or may not use it. https://t.co/YfUTbfrUae
— Ryan Gerritsen🇨🇦🇳🇱 (@ryangerritsen) https://x.com/ryangerritsen/status/2091192974579290194?ref_src=twsrc%5Etfw
In other words, Carney claims to be saving Canada from being dominated by the US, but he will end up selling his nation's sovereignty to China or the EU just to spite the Trump Administration.
Carney's behavior in light of these negotiations might seem bizarre, but it makes perfect sense if we consider the possibility that his goal is to cripple the Canadian economy deliberately and make it a pawn in a greater war waged by the Davos elite to isolate conservative movements in the US. The majority of anti-globalist and anti-multicultural movements around the world rely on American efforts to defeat the progressive agenda.
In other words, global lines are being drawn right now for a fight over who will decide the course of the future. Carney is clearly steering Canada to the side of the WEF ideal.
https://cms.zerohedge.com/users/tyler-durden
Sun, 08/23/2026 - 12:15
https://www.zerohedge.com/geopolitical/did-canada-just-sign-its-own-economic-death-warrant

2026-08-20 08:15:00 UTC

By 2050, The World's Most-Populous Cities Will All Be In Africa Or Asia
By 2050, The World's Most-Populous Cities Will All Be In Africa Or Asia
Across 150 years, familiar urban giants rise, fall, and give way to a new generation of megacities.
This visualization,https://www.visualcapitalist.com/ranked-the-worlds-largest-cities-1950-2100/ ranks the 15 most populous cities worldwide from 1950 to 2100 using population estimates from the European Commission’s JRC via https://ourworldindata.org//grapher/population-of-the-worlds-largest-cities?time=earliest..2100&country=Karachi%7ECairo%7EShanghai%7EAddis+Ababa%7EDar+es+Salaam%7ELuanda%7ESao+Paulo&utm_source=OWID+Newsletter&utm_campaign=66517e3dd8-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_2e166c1fc1-77833dd717-599574761. City boundaries were consistently defined based on satellite imagery and population data.
https://cms.zerohedge.com/s3/files/inline-images/The-Worlds-Largest-Cities-1950-2.jpg?itok=sY4U8PS0
The Transatlantic Era
Tokyo led the 1950 ranking with 12.6 million people, followed by New York with 9.3 million.
The Big Apple was not the only massive Western city at the time. Of the 15 most populous cities in 1950, over half were found in either Europe or the Americas. This included London (7.9 million), Moscow (5.5 million), and Paris (5.4 million).
The table below ranks the 15 most populous cities in 1950:
RankCityPopulation in 1950
(Millions)Region
1🇯🇵 Tokyo12.6Asia
2🇺🇸 New York City9.3North America
3🇯🇵 Osaka8.0Asia
4🇬🇧 London7.9Europe
5🇮🇳 Kolkata6.1Asia
6🇷🇺 Moscow5.5Europe
7🇫🇷 Paris5.4Europe
8🇦🇷 Buenos Aires4.6South America
9🇺🇸 Los Angeles4.0North America
10🇮🇩 Jakarta3.9Asia
11🇮🇳 Mumbai3.8Asia
12🇲🇽 Mexico City3.7North America
13🇪🇬 Cairo3.1Africa
14🇨🇳 Shanghai3.1Asia
15🇧🇷 São Paulo3.1South America
The rankings began changing quickly over the following decades. By 1975, London had fallen out of the top 15, while Paris (7.4 million) and Los Angeles (7.7 million) had also slipped in rank.
The second half of the 20th century also saw the rise of Latin American metropolises such as São Paulo and Mexico City, which by 2000 had surpassed New York as the https://www.visualcapitalist.com/30-largest-cities-in-north-america-by-population/ in the hemisphere.
The Rise of Asia
By 2000, Asia dominated the upper reaches of the ranking.
Tokyo maintained its lead at 30.3 million inhabitants, while Guangzhou had climbed to third with 19 million and New Delhi to sixth with 18 million.
Urbanization and a continental https://asiapacific.unfpa.org/en/topics/population-trends continued, and by 2025 all but one of the 10 most populous cities worldwide were in Asia. The sole exception was Cairo, with 25.6 million people.
RankCityPopulation in 2025
(Millions)Region
1🇮🇩 Jakarta41.9Asia
2🇧🇩 Dhaka36.6Asia
3🇯🇵 Tokyo33.4Asia
4🇮🇳 New Delhi30.2Asia
5🇨🇳 Shanghai29.6Asia
6🇨🇳 Guangzhou27.6Asia
7🇪🇬 Cairo25.6Africa
8🇵🇭 Manila24.7Asia
9🇮🇳 Kolkata22.5Asia
10🇰🇷 Seoul22.5Asia
11🇵🇰 Karachi21.4Asia
12🇮🇳 Mumbai20.2Asia
13🇧🇷 São Paulo18.9South America
14🇹🇭 Bangkok18.2Asia
15🇲🇽 Mexico City17.7North America
The World in 2100
By 2100, Dhaka is projected to rank first with 55 million people, followed by Jakarta at 49.7 million and Karachi at 43.7 million. Tokyo, the world’s largest city in 1950 and 2000, is projected to fall to ninth place with 24.1 million residents.
RankCityPopulation in 2100P
(Millions)Region
1🇧🇩 Dhaka55.0Asia
2🇮🇩 Jakarta49.7Asia
3🇵🇰 Karachi43.7Asia
4🇪🇬 Cairo36.7Africa
5🇮🇳 New Delhi32.0Asia
6🇦🇴 Luanda30.7Africa
7🇵🇰 Lahore24.8Asia
8🇨🇳 Shanghai24.7Asia
9🇯🇵 Tokyo24.1Asia
10🇵🇭 Manila22.4Asia
11🇮🇳 Mumbai21.5Asia
12🇮🇳 Kolkata20.5Asia
13🇹🇿 Dar es Salaam20.1Africa
14🇨🇳 Guangzhou18.1Asia
15🇳🇬 Lagos17.9Africa
Cairo will remain the most populous city outside of Asia, with 36.7 million people. It will be joined in the upper rankings by other African megacities including Luanda (30.7 million), Dar es Salaam (20.1 million), and Lagos (17.9 million).
Tokyo is projected to see its population fall below its 1975 level as declining birth rates contribute to long-term https://www.visualcapitalist.com/ranked-fastest-growing-countries-since-2000/.
To learn more about national population growth, check out https://www.voronoiapp.com/demographics/The-Top-10-Countries-Driving-Future-Population-Growth-2627 on Voronoi.
https://cms.zerohedge.com/users/tyler-durden
Thu, 08/20/2026 - 04:15
https://www.zerohedge.com/geopolitical/2050-worlds-most-populous-cities-will-all-be-africa-or-asia

2026-08-20 02:10:00 UTC

Arrest Warrants Issued For 6 DC Cops Accused In $440K Overtime Fraud
Arrest Warrants Issued For 6 DC Cops Accused In $440K Overtime Fraud
A D.C. Superior Court judge signed https://www.justice.gov/usao-dc/pr/arrest-warrants-issued-six-current-and-former-mpd-members-fifth-district-overtime-fraud on August 18, 2026, for six current and former members of the Metropolitan Police Department's Fifth District, accusing them of fraudulently claiming overtime and regular-duty hours they did not work in 2024. The warrants target Peter Sheldon, Frantz Fulcher, Thomas Krmenec, Bernadette Richardson, Dorrie Smith Cleere, and Johnnie Dyer.
https://cms.zerohedge.com/s3/files/inline-images/unnamed_file_from_www.google.com_.jpg_80%2823%29.jpg?itok=sEkWP_eG
The six face charges of first-degree fraud, first-degree theft, forgery, and uttering (knowingly passing off a forged or fraudulent document as genuine). U.S. Attorney for the DC Jeanine Pirro announced the action, stating: "Every day, we rely on law enforcement to uphold the public's trust. These MPD members betrayed that trust by scheming to collect unearned, undeserved income, costing the taxpayers hundreds of thousands of dollars. They will be held accountable, and my office remains focused on rooting out fraud and protecting the American taxpayer."
According to an announcement from D.C. Attorney General Brian L. Schwalb's office, the scheme cost District taxpayers https://oag.dc.gov/release/attorney-general-schwalb-announces-public in fraudulent pay during 2024 alone. The individuals and alleged amounts are:
- Former Sergeant Frantz Fulcher: $174,915.39
- Officer Thomas Krmenec: $89,478.00
- Officer Dorrie Smith Cleere: $87,397.65
- Former Senior Police Officer Bernadette Richardson: $43,351.68
- Johnnie Dyer (civilian): $27,721.59
- Former Lieutenant Peter Sheldon: $18,272.72
Prosecutors say the defendants, assigned to the Fifth District Administrative Office, submitted false claims through MPD's Timesheet Manager Application. Methods allegedly included claiming overtime while physically outside the District of Columbia (including during domestic and international travel), while on annual leave, forging supervisory signatures on authorization forms, and using administrative positions to facilitate fraudulent processing and approvals. Some also allegedly claimed compensation while engaged in secondary employment.
https://cms.zerohedge.com/s3/files/inline-images/5d_mpd_fraud_chart_0_80.jpg?itok=tPjOnOuk
Investigators reconstructed activities using a wide array of independent data sources: body-worn camera footage, radio and GPS records, cell-site location data, cellular toll records, license plate reader data, annual leave and travel records, emails, network data, access logs, personnel files, and overtime documentation. These records demonstrated repeated and deliberate falsification. Collectively, the six submitted more than 11,000 hours and were paid over $935,000 in 2024; investigators determined roughly half of those hours - about 5,618 - were fraudulent.
The Metropolitan Police Department's Internal Affairs Division initiated the probe after spotting irregularities, including unusually high overtime volumes and inconsistencies with verification data. The case is being prosecuted by Special Assistant U.S. Attorney Jeremy Morris, on detail from the Office of the Attorney General for the District of Columbia. Due to jurisdictional limits under the Home Rule Act, adult felony prosecutions of this type are handled by the U.S. Attorney's Office, with OAG attorneys serving in a supporting SAUSA capacity.
Attorney General Schwalb said: "These six officers abused their positions of power, exploiting the District and the residents they took an oath to serve and protect. No one is above the law, especially those trusted with enforcing it." As of Tuesday afternoon, a source told ABC affiliate WJLA that at least three of the six - Officers Smith Cleere and Krmenec, and Former Senior Police Officer Richardson - were in custody; warrants for Fulcher and Sheldon were executed Wednesday, according to court documents cited by the Washington Examiner.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 22:10
https://www.zerohedge.com/political/arrest-warrants-issued-6-dc-cops-accused-440k-overtime-fraud

2026-08-20 01:45:00 UTC

S.Korea Reaffirms Push For Military Independence After Trump Announced Scaled-Back Drills
S.Korea Reaffirms Push For Military Independence After Trump Announced Scaled-Back Drills
https://news.antiwar.com/2026/08/18/south-koreas-lee-reaffirms-push-for-military-independence-after-trump-announces-scaled-back-drills/
South Korean President Lee Jae Myung https://www.theguardian.com/world/2026/aug/18/south-korea-president-trump-military-drills-control-opcon-kim-jong-un for South Korea to regain independent control of its military from the US after President Trump announced the scaling back of joint US-South Korean military drills taking place this week.
The US has had wartime operational control of South Korea’s military since the Korean War, which technically never ended. Combat was halted by a 1953 armistice, but the two sides never signed a formal peace treaty.
https://cms.zerohedge.com/s3/files/inline-images/President-Lee-980x653.jpg?itok=fmgEw-Jb
South Korea took peacetime operational control, or OPCON, of its military in 1994, but the US still holds wartime OPCON. Lee previously committed to regaining wartime OPCON by the end of his term in 2030, which he reaffirmed at a cabinet meeting on Tuesday.
"A strong alliance makes the foundation of security stronger, and strengthening our own capabilities increases our value and necessity as an ally," Lee said, according to The Guardian.
Also on Tuesday, Wi Sung Lac, Lee’s national security advisor, said that South Korea remained in close coordination with the US regarding joint military exercises.
"Based on the strong South Korea-US alliance, our government has been continuing coordination with the US side on combined exercises and drills between South Korea and the US," Wi said, https://en.yna.co.kr/view/AEN20260818008851315?section=national/politics
Trump announced on Sunday that he ordered US War Secretary Pete Hegseth to "substantially reduce" Ulchi Freedom Shield, major joint US-South Korean war games that began on Monday, though it’s unclear if they are being reduced in any significant way.
The US president said he took the step based on his "very good relationship" with North Korean Leader Kim Jong Un, whom he met with three times during his first term.
Lee’s office https://news.antiwar.com/2026/08/17/south-korea-expresses-hope-for-us-north-korea-talks-after-trump-announces-scaled-back-military-drills/ by saying it hoped that relationship would lead to "meaningful dialogue" and "discussions aimed at advancing peace and stability on the Korean Peninsula."
Pyongyang has meanwhile downplayed the Trump overture and has not acknowledged any new contacts...
Q: Why hasn't Kim Jung Un responded to your request to have a conversation?
Trump: How do you know he hasn't?
Q: Has he?
Trump: Uh... Yeah he has. https://t.co/RXuoNkvK03
— FactPost (@factpostnews) https://x.com/factpostnews/status/2089414758826971448?ref_src=twsrc%5Etfw
While Trump has framed his action as some sort of punishment over South Korea’s lack of support for the Iran war, it aligns with the agenda President Lee has been attempting to pursue. Just one day before Trump’s announcement, Lee proposed direct talks with North Korea.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 21:45
https://www.zerohedge.com/geopolitical/skorea-reaffirms-push-military-independence-after-trump-announced-scaled-back-drills

2026-08-20 01:20:00 UTC

Amazon 'Prime Air' To Expand Drone Delivery To Nearly 500 US Cities This Year
Amazon 'Prime Air' To Expand Drone Delivery To Nearly 500 US Cities This Year
Amazon's Prime Air drone delivery service, first teased by Jeff Bezos in a 2013 60 Minutes interview as a way to get packages under 5lbs to customers in 30 minutes or less, represents the broader push toward autonomous aerial last-mile logistics that could bypass traffic and cut delivery times dramatically.
After years of regulatory hurdles with the FAA, technical iterations, and limited trials, the service has matured into a commercial offering using the MK30 drone, which hovers to drop packages.
A major breakthrough came in 2024, when the Federal Aviation Administration (FAA) granted Amazon a waiver allowing its drones to fly beyond the visual line of sight of their operators, and has already completed hundreds of thousands of deliveries in 2026 across 11 sites in seven states.
https://www.aboutamazon.com/news/transportation/amazon-prime-air-drone-delivery-expansion - a roughly sixfold increase - bringing ultrafast options (as quick as 30 minutes) to tens of millions more customers in places like the Chicago, Atlanta, Cleveland, Syracuse, and Boise metro areas.
https://cms.zerohedge.com/s3/files/inline-images/Amazon-to-expand-drone-delivery.jpg?itok=E_QNy-9b
The drones will primarily operate in suburban areas, away from skyscrapers and major airports that could complicate operations.
Amazon describes the aircraft as “highly autonomous,” with onboard cameras and sensors for navigation, obstacle detection, and safe delivery.
The cameras do not transmit a live video feed, according to the company.
The company also sought to address the potential concern about noise.
“During drop-off, the sound level is below that of an idling delivery truck parked curbside and lasts about 30 seconds,” Amazon said.
Someone standing outside may hear a sound “comparable to a window fan on low” as the drone arrives, while people indoors may not hear it at all, the company added.
Prime Air delivery is free for Prime members on orders of at least $50, but orders below that threshold carry a $2.99 delivery fee, while customers without a Prime membership are charged $4.99.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-19_13-16-09.jpg?itok=6OEZf1w2
The plan will intensify the battle between Amazon and Walmart to provide consumers with the fastest delivery times.
Both giants rely on a mix of drones and drivers to deliver everything consumers have ordered.
The goal is not necessarily about cutting costs by replacing drivers and trucks - and drones that can only carry one package at a time would have a hard time doing that. But instead, these companies are using drones as one tool to help keep customers happy with quicker deliveries, banking on a faster delivery system attracting more shoppers.
“It’s still an experiment. It’s still in test and learn mode,” said Sucharita Kodali, who is a retail analyst with Forrester.
However, it's not all instant utopian dreams as https://www.theepochtimes.com/business/amazon-to-expand-drone-deliveries-to-nearly-500-us-cities-6076990?utm_source=partner&utm_campaign=ZeroHedgethat the program also faces safety scrutiny following recent incidents.
In October 2025, two Amazon drones collided with a crane in Tolleson, Arizona, prompting separate investigations by the National Transportation Safety Board and the FAA.
Another FAA investigation was opened last November after an Amazon drone struck and severed an internet cable while ascending from a customer’s yard in Waco, Texas.
All three investigations are ongoing.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 21:20
https://www.zerohedge.com/technology/amazon-prime-air-expand-drone-delivery-nearly-500-us-cities-year

2026-08-20 00:30:00 UTC

Trump Indicates Plans To Meet North Korea's Kim Jong-Un Later This Year
Trump Indicates Plans To Meet North Korea's Kim Jong-Un Later This Year
President Trump on Wednesday issued some surprisingly positive statements regarding North Korea and its expanded nuclear modernization ambitions, while fielding questions from reporters.
The comments come days after the Commander-in-Chief ordered scaled back US-South Korean joint military drills, which are happening this week and are now expected to end early.
https://cms.zerohedge.com/s3/files/inline-images/trumpkimz.jpg?itok=bC-Vj1BM
Trump has indicated he plans to meet with North Korean leader Kim Jong-Un later this year, after breakthrough face-to-face diplomacy with the autocrat during his first term at the White House. According to https://www.telegraph.co.uk/world-news/2026/08/19/trump-pushes-for-meeting-with-kim-jong-un/?WT.mc_id=tmgoff_tw_post_meeting-with-kim-jong-un/:
Donald Trump said he would meet Kim Jong-un later this year. The US president has privately discussed setting up a face-to-face discussion with the North Korean leader during his next trip to Asia, which could happen in November, according to reports.
He confirmed on Wednesday that the pair had plans to meet later this year.
He stated that the relationship was an asset to the US and the world, before saying: "I get along with him well. And you know what? The fact that I get along with him, that’s a very good thing, not a bad thing."
According to https://www.washingtonpost.com/politics/2026/08/19/trump-says-he-expects-meet-with-north-koreas-kim-jong-un-later-this-year/:
“As long as we have a smart president, he’s going to be fine,” Trump said.
Trump’s statement that North Korea has 57 nuclear warheads was within the range of widely reported estimates but was more specific than past U.S. government statements.
“They should have never allowed it. If I were president, I wouldn’t have allowed ⁠it. But he’s got them,” Trump said of the North Korean leader.
Trump didn't provide any further details on a potential meeting, and all of this interestingly comes at a time where the White House probably needs a distraction away from the Iran war and Hormuz Strait energy crisis.
The president had earlier in the week described North Korea as a "Country that, as long as Donald J. Trump has been President, has been unthreatening and respectful" - in a post on Truth Social.
Before that, Pyongyang had slammed the drills as a "rehearsal for aggressive war". North Korea's Foreign Ministry had described last Friday that these planned drills look different, and will be more dangerous, compared to all prior ones of the past-half decade, in that they appear offensive in nature as the exercise will focus on modern warfare tactics.
Q: Are you exchanging written letters with Kim Jong Un?
TRUMP: I can't tell you that. But I get along with him great. He has 57 very powerful nuclear weapons. He's gonna be fine. https://t.co/AfhVw6Hrwl
— Aaron Rupar (@atrupar) https://x.com/atrupar/status/2090099695825645870?ref_src=twsrc%5Etfw
North Korea had further stated: "It is our consistent principle of ensuring security to respond to a new level of a threat with a new level of a deterrent," and so the country "will more clearly express its stance on the enemies to cope with any threats and challenges through the responsible and decisive exercise of the right to legitimate self-defense."
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 20:30
https://www.zerohedge.com/geopolitical/trump-indicates-plans-meet-north-koreas-kim-jong-un-later-year

2026-08-19 23:40:00 UTC

Judge Ordered Off Karmelo Anthony Murder Case As Defense Pushes For New Trial
Judge Ordered Off Karmelo Anthony Murder Case As Defense Pushes For New Trial
Judge John Roach has been ordered to recuse himself from further proceedings in the Karmelo Anthony murder case, as the defendant seeks a new trial.
On August 19, 2026, Visiting Judge Sid Harle ruled that Roach must step aside. Retired District Judge Michael Chitty has been appointed to handle a hearing scheduled for August 20 on whether Anthony should receive a retrial.
https://cms.zerohedge.com/s3/files/inline-images/260609-Karmelo-Anthony-rs-0ba2a9_80.jpg?itok=sJoF_WzX
Anthony, now 19, was convicted of first-degree murder and sentenced to 35 years in prison after fatally stabbing 17-year-old Austin Metcalf during an altercation at a high school track meet in Frisco, Texas, in April 2025. A Collin County jury returned the verdict in June 2026 following a trial in McKinney. Jurors deliberated for about three hours and rejected the option of a lesser manslaughter conviction.
Anthony's new defense team is pursuing the new-trial motion. His attorneys argued that Roach's strict courtroom rules - including restrictions on live media coverage - and public statements he made after the verdict demonstrated bias that would prevent him from fairly considering the request.
In a statement, the legal team said the ruling addressed "whether a reasonable fully informed observer would see Judge Roach's conduct and believe that he could fairly and impartially consider a motion for new trial," adding that they believed the judge correctly granted the recusal motion.
"Today’s ruling answers a fundamental question: whether a reasonable fully informed observer would see Judge Roach’s conduct and believe that he could fairly and impartially consider a motion for new trial," the legal team told the https://www.theepochtimes.com/us/judge-who-presided-over-karmelo-anthonys-conviction-removed-as-defendant-seeks-new-trial-6076993?utm_source=partner&utm_campaign=ZeroHedge.
Critics of the original trial, including Anthony's former attorneys and groups such as the Collin County NAACP, had raised concerns about the absence of Black jurors in what they described as a racially charged case involving a Black defendant. Prosecutors struck several potential Black jurors, stating the decisions were race-neutral because the individuals were educators in a case involving young students. Roach rejected a challenge to the jury's composition during the trial.
The incident occurred on April 2, 2025. Students from Memorial High School's track team returned to their designated tent area and found Anthony, a Centennial High School student, sitting there. Metcalf asked him to leave. An argument ensued. Multiple witnesses testified that Anthony was the aggressor. One quoted Metcalf saying he would not fight at a track meet. Witnesses said Anthony responded, "Touch me and see what happens," while reaching into his bag. After Metcalf shoved him, Anthony stabbed Metcalf in the chest with a knife and fled. He was arrested shortly afterward.
The case drew significant public attention amid competing narratives about the confrontation and broader issues of race and self-defense. Both sides maintained at trial that race was not a factor in the events under the tent.
Judge Chitty will now oversee the upcoming hearing on the motion for a new trial.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 19:40
https://www.zerohedge.com/political/judge-ordered-karmelo-anthony-murder-case-defense-pushes-new-trial

2026-08-19 22:50:00 UTC

'Quality Over Quantity': Reddit Is Mostly Wiped From ChatGPT Citations
'Quality Over Quantity': Reddit Is Mostly Wiped From ChatGPT Citations
Nature is healing, with the latest data from the AI search visibility platform Promptwatch showing that OpenAI's ChatGPT citations from Reddit have plunged in recent weeks to nearly zero.
"It looks like Reddit is almost wiped from ChatGPT sources; the query fanout changes had a big impact, and in the past couple of days it seems to be almost completely removed from prompt responses," Promptwatch founder Klaas Foppen wrote on X.
looks like reddit is almost wiped from chatgpt sources
the query fanout changes had a big impact
and the past couple of days it seems to be almost completely removed from prompt responseshttps://t.co/oCGm9M0yPO https://t.co/c2GJF2apG7
— Klaas (@forgebitz) https://x.com/forgebitz/status/2089708381351059924?ref_src=twsrc%5Etfw
According to Promptwatch, Reddit's daily share of all citations returned by ChatGPT Search began to move sharply lower in the first week of August, then fell to near zero by mid-month.
Promptwatch's website said the red lines on the chart began on August 8, when OpenAI changed the query fanout behavior of ChatGPT Search. By August 14, or last Friday, those citations had plunged again to near zero.
Promptwatch continued:
Reddit lost almost its entire citation footprint in ChatGPT within a single day. From July 18 through August 7, it held a steady 3.83% average share of ChatGPT citations, one of the largest of any domain. On August 14, the share collapsed to under 1%, and the August 14-17 average of 0.52% is an 86.4% relative drop.
The slide started earlier: on August 8, the same day ChatGPT changed its query fanout behavior, Reddit's share fell from the high 3s to the mid-2s. The chart shows when each change happened, not why. A shift in ChatGPT's source selection is the obvious candidate, but a data-collection issue cannot be ruled out, so treat the size of the drop as provisional while we keep monitoring.
Reddit citations in ChatGPT have been controversial from the start because there is often no confirmation of where the information originated, and the citations could point to someone claiming to be an engineer, doctor, trader, or insider without proving their credentials. There's also the fact that Reddit generally leans left-wing, which could alter answers.
All-In Podcast's Jason Calacanis asked Grok, "Is this a choice because of quality or because of legal IP issues?"
The answer:
Mostly quality. OpenAI shifted ChatGPT Search query fanout around Aug 8 to heavy use of site: operators targeting trusted domains. This cut Reddit citations from ~3.8% to 0.5% by Aug 14 (Promptwatch data) to reduce spam and low-quality results. The 2024 licensing deal for…
— Grok (@grok) https://x.com/grok/status/2090075311106846838?ref_src=twsrc%5Etfw
Someone asked:
very likely the reason
— Klaas (@forgebitz) https://x.com/forgebitz/status/2089753200244957343?ref_src=twsrc%5Etfw
Foppen noted that instead of ChatGPT tapping Reddit, more official sources and direct-site citations are being pulled.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 18:50
https://www.zerohedge.com/technology/chart-day-reddit-mostly-wiped-chatgpt-citations

2026-08-19 13:11:04 UTC

Here Comes QE Lite: Yields, Dollar Tumble, Gold Spikes After Treasury Unexpectedly Doubles Size Of Long-End Treasury Buybacks
Here Comes QE Lite: Yields, Dollar Tumble, Gold Spikes After Treasury Unexpectedly Doubles Size Of Long-End Treasury Buybacks
Over the past several years, one of the more amusing debates gripping the market's Fed-watchers was whether the Fed's treasury buyback auctions were a form of soft QE, with this website consistently arguing that - contrary to what washed out ex-Bridgewater traders with a newsletter to sell may tell you - Treasury buybacks were just that, to wit:
*TREASURY SAYS IT'S EVALUATING ENHANCEMENTS TO BUYBACK PROGRAM
"Not QE"
— zerohedge (@zerohedge) https://x.com/zerohedge/status/1917557497759416320?ref_src=twsrc%5Etfw
*TREASURY INCREASES LIQUIDITY BUYBACK TOTAL TO $30B FROM $15B
"Not QE 2.0" is growing
— zerohedge (@zerohedge) https://x.com/zerohedge/status/1818625219302769080?ref_src=twsrc%5Etfw
TREASURY DEBT BUYBACK TARGETS COUPONS MATURING IN 2031 - 2034
Next QE rehearsal
— zerohedge (@zerohedge) https://x.com/zerohedge/status/1816183669784248571?ref_src=twsrc%5Etfw
And moments ago, Scott Bessent finally resolved the debate when, with 30Y yields at 20 year highs and threatening to blow out higher, the US Treasury shocked markets, sparked a meltdown in yields and surge in equity futures and gold https://home.treasury.gov/news/press-releases/sb0607that they will be "increasing, by at least double, the size of liquidity support buyback operations for longer-dated nominal coupon securities (the 10-year to 20-year sector and the 20-year to 30-year sector). The current maximum size of $2 billion per operation will be at least $4 billion per operation."
This change will be effective September 9, 2026 and will be in effect for the remainder of this refunding quarter (through November 4, 2026). The releases noted that the Treasury will provide more information about future buyback sizes at the next Quarterly Refunding, scheduled for November 4, 2026, in other words it has the benefit of 3 months of "NOT QE" without having to even specify its thinking.
According to the statement, "this increase in buyback operation sizes reflects Treasury’s desire to provide greater liquidity support in longer-dated nominal sectors where there is consistent strong sponsorship from market participants, as evidenced by the significant volume of high-quality offers Treasury routinely receives in longer-dated buyback operations."
Translation: Bessent panicked and the justification that there is no liquidity is just a strawman, with the Treasury now freaking out that the demand for AI paper is crowding out demand for Treasuries as we have been warning for the past several weeks, and as we predicted a week ago when looking at the blowing out Treasury skew, "Bessent will be busy.:"
Bessent will be busy https://t.co/0BslbpgnLs https://t.co/kreaTPS1rh
— zerohedge (@zerohedge) https://x.com/zerohedge/status/2087322965083886007?ref_src=twsrc%5Etfw
It took just one week for him to show just how busy he would be.
The market reaction was instant and violent, with 30y yields down 6bps in an instant on the headlines, having been down 2bp prior, This brings Wednesday's yield decline to 8bp total
https://cms.zerohedge.com/s3/files/inline-images/2026-08-19_05-37-00.png?itok=t_kXJGOW
US 2s30s is 7bp flatter on the day and 10s30s 2bp flatter.
https://cms.zerohedge.com/s3/files/inline-images/2026-08-19_05-45-04.png?itok=gINMRZz6
Naturally, with Bessent panicking, stock futures surged...
https://cms.zerohedge.com/s3/files/inline-images/ES%202026-08-19_05-38-44.png?itok=tkI8dgh9
... but more importantly, gold is breaking out bigly....
https://cms.zerohedge.com/s3/files/inline-images/gold%202026-08-19_05-39-13.png?itok=0sNyk4sZ
... as the market realizes that with total US debt about to hit $40 trillion...
so close.... https://t.co/edFs1kzVZB
— zerohedge (@zerohedge) https://x.com/zerohedge/status/2089811655949488247?ref_src=twsrc%5Etfw
... it all gets much worse from here.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 09:11
https://www.zerohedge.com/markets/here-comes-qe-lite-yields-dollar-tumble-gold-spikes-after-treasury-unespectedly-doubles

2026-08-19 13:03:45 UTC

Another AI Reacharound? Marvell Shares Rip On Chips-For-Warrants Deal With Google
Another AI Reacharound? Marvell Shares Rip On Chips-For-Warrants Deal With Google
The circular financing circus rolls on...
https://cms.zerohedge.com/s3/files/inline-images/image%20%2863%29_14.jpg?itok=j1aav4m4
Marvell shares are soaring this morning after fabless chip designer announced an expanded chip-development partnership with Google that includes a warrant from Marvell allowing the search giant to buy as much as $12.2 billion in shares.
The two firms will collaborate on custom AI chips.
"The expanded partnership spans a comprehensive range of custom silicon programs that attach to the TPU ecosystem, including AI inference accelerators, storage controllers, network interface controllers, memory interface controllers, and near-memory compute," Marvell said in the filing.
And what does Marvell get for supplying all that?
An 'investment'... of sorts...
Google may purchase as many as 58,970,907 Marvell shares at a price of $206.58 apiece, Marvell said Wednesday in a regulatory filing.
Nearly 1.4 million of the shares vest in equal quarterly installments during the first year following the execution of the warrant, according to the filing.
The remaining shares vest based on “discretionary purchases” from Marvell’s third quarter of fiscal 2027 through the end of its fiscal 2033, with one tranche vesting for each $500 million in revenue stemming from the products the companies have developed together.
MRVL is up over 12% in the pre-market...
https://cms.zerohedge.com/s3/files/inline-images/2026-08-19_05-56-12.jpg?itok=kAURj-86
Shares of Broadcom (AVGO), which is known for being a major partner on Google's TPU efforts, are down 3% in the pre-market.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 09:03
https://www.zerohedge.com/technology/another-ai-reacharound-marvell-shares-rip-chips-warrants-deal-google

2026-08-19 10:55:00 UTC

Jeff Currie: Forget $91 Brent, The Real Crisis Is $170 Diesel
Jeff Currie: Forget $91 Brent, The Real Crisis Is $170 Diesel
Brent at $90.94 looks almost civilized. Jeff Currie thinks that is exactly the problem: everyone is staring at crude while the real energy shock is already showing up in the fuels people actually buy.
As https://oilprice.com/Latest-Energy-News/World-News/Jeff-Currie-Forget-91-Brent-The-Real-Crisis-Is-170-Diesel.html, "Nobody on the planet earth consumes crude oil,” Currie told CNBC. Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier.
European diesel was trading around $170 per barrel during the interview, Currie said, almost twice Brent’s current $90.94. WTI was trading at $84.94 Tuesday.
https://cms.zerohedge.com/s3/files/inline-images/european%20diesel.jpg?itok=q7q16KUv
Historically, crude and refined-product prices moved closely enough that crude served as a reasonable shorthand for the broader energy market. Currie says that relationship has broken down.
Part of the disconnect came from roughly 100 million to 120 million barrels of crude trapped inside the Strait of Hormuz following a surge in supplies in late June and early July. China then cut refinery runs, which helped keep crude prices softer but made product supplies tighter.
In other words, China did not solve the shortage. It moved it downstream.
Currie also argues governments have spent decades creating an “illusion of abundance” during supply disruptions by releasing strategic reserves and talking markets down. That strategy has worked before. This disruption, he said, is different because of its scale, duration, and the increasingly tight product market.
The inflation implications are considerably less academic. CNBC noted that gasoline prices are about 30% higher than a year ago, while diesel is up 46%. Diesel feeds directly into trucking, shipping and industrial costs.
Currie expects the crude-product dislocation to eventually correct as refiners chase historically high margins and increase runs.
Until then, $91 Brent may be giving investors a comforting picture of an oil market that consumers stopped living in weeks ago.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 06:55
https://www.zerohedge.com/energy/jeff-currie-forget-91-brent-real-crisis-170-diesel

2026-08-19 09:00:00 UTC

Sovereign Debt Crisis: The French Left Wants To Simply Burn The Debt
Sovereign Debt Crisis: The French Left Wants To Simply Burn The Debt
Submitted by Thomas Kolbe
For economic illiterates, socialists and social-state engineers, the world consists of one fundamental problem: Where does the credit come from that is supposed to turn the visions of central planners into a new reality? Once that question has been answered and the shaky financing is in place, the work can begin.
Ideally, socialists operate in a zero-interest-rate world in which even the most nonsensical projects, from the nuclear phase-out to the construction of wind turbines in forests, debt-financed arms deliveries to the Donbas, or even billion-dollar subsidies for the NGO industry, can be financed.
It is magical: The costs of this artificial credit, this nonsensical government demand, which ultimately has to be paid for through inflation and higher taxes, are concealed behind massive state propaganda and a delayed fiscal response. Cause and effect of government demand are thus separated from one another. Citizens find it difficult to understand why their economy is no longer growing while the state apparatus, meanwhile, is assuming Kafkaesque features.
In an interview with Les Nouveaux Médias, French socialist Jean-Luc Mélenchon https://www.dailymotion.com/video/xaj0wuq. His recipe is socialist, simple and one-dimensional. The French government should simply continue piling up debt, without any controls whatsoever. The European Central Bank could then serve as a kind of bond landfill and purchase surplus securities from the market once saturation has been reached.
This is followed by the unsubtle and predictable trick: The bonds thus neutralized could simply be burned on the balance sheet. They would virtually disappear from the memory of politicians, the public and the bond market. The debt ratio falls as well – the perfect digital money printer, a socialist paradise of unlimited possibilities.
Why has nobody thought of this before? Because the fact is: Which politician has any interest in public controversy and in recognizing that our world does not have unlimited resources, that a genuine problem of distribution exists? The credit pump could solve all problems in this simple world. Nobody would have to give anything up; prosperity would simply be printed into existence. That is how simple it is.
But haven’t we already reached this state long ago? In essence, the European Central Bank has been pursuing precisely such an infantile policy of illusion since the great sovereign debt crisis of a decade and a half ago. And now, once again, the new Transmission Protection Instrument (TPI) stands ready as a vehicle that, if necessary, is supposed to allow bond purchases without a pre-defined quantitative ceiling. Should the bond market give the thumbs-down to the mountain of debt accumulated by Europe’s club of debtors, the deficits will be closed with the credit pump.
Central-bank policy always creates the impression of extreme complexity and absolute control over market events. Bond markets are quantitatively deep, particularly at the so-called long end, the longer maturities of government bonds. It is by no means the case that a central bank could control this market even remotely. Its power unfolds at the short end, which is consequently where market manipulation is concentrated.
Mélenchon then presents his second brilliant idea: common bonds issued by the European Commission and likewise stabilized by the European Central Bank within a specific interest-rate corridor. Germany’s creditworthiness, still the anchor of the EU’s entire debt system, could also have a beneficial effect on interest rates in France, which is over-indebted at around 120 percent.
https://cms.zerohedge.com/s3/files/inline-images/melanchon%202.jpg?itok=OaIJSuHi
Mélenchon reveals staggering economic incompetence in an interview. Here is another sample:
Ultimately, according to his conception, this amounts to a triangular transaction: France participates in the Eurosystem through the Banque de France and is therefore indirectly involved in the European Central Bank. If the ECB purchases French government bonds, Mélenchon argues, this amounts to a kind of purchase of its own debt. France would ultimately owe itself credit and could therefore cancel these liabilities itself, provided the bonds were first parked at the ECB.
Only socialists or statists can devise such economic nonsense: borrowing without limits, then simply wiping the mountain of debt out of existence and leaving the people to deal with the inflation created in the process. This is a catastrophic breach of trust and the end of any civilized policy of government.
And consider what kind of policies are being implemented with the state credit pump: from financing the conflict in Ukraine and climate policy to the never-ending mass migration into the welfare state, which, like the pension system, must also be kept liquid with ever-increasing amounts of borrowed money.
Credit as a great political illusion. Credit that relieves the growing pressure for reform from narrow political shoulders in order to stabilize a system that has long since exceeded its economic limits.
Mélenchon is looking at new borrowing of 5.7 percent this year and knows exactly what is happening: The political stalemate in Paris prevents any form of fiscal consolidation.
The political camps are marching hand in hand toward sovereign bankruptcy. And German politics, too, apparently knows what is coming: Eurobonds, a consolidation of debt under the umbrella of the European Commission.
The first major test run: Next Generation EU, the €750 billion common-bond project that Brussels placed on the market during the COVID lockdowns – with German liability and ECB liquidity support, primarily to finance the gigantic deficits of Italy and Spain.
Common debt, known as Eurobonds, will be the inevitable next step in European integration. There can be little doubt about that. The construction of a European military sector alone will consume enormous amounts of resources, just as we have seen with the green command economy. This process is forcing German policymakers to waste seven percent of GDP on subsidies. The state is crowding out the private sector, while its bureaucracy consumes an ever-larger share of the slowly shrinking economic pie year after year: As a result, unemployment rises while private-sector investment is crowded out. The state has no other way to cope than through massive tax increases.
We are watching a financial crash in slow motion. Its final chapter will bring us the usual bailout policies, capital controls and financial repression. Thankfully, Mélenchon has given us some insight into the political mind games – and they are deeply alarming.
* * *
About the author: Thomas Kolbe, a German graduate economist, has worked for over 25 years, he has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 05:00
https://www.zerohedge.com/economics/sovereign-debt-crisis-french-left-wants-simply-burn-debt

2026-08-19 06:45:00 UTC

Germany Opens New Drone Security Center Amid Fears Of Russian Hybrid Warfare
Germany Opens New Drone Security Center Amid Fears Of Russian Hybrid Warfare
European officials have for years been warning about what they allege is heightened Russian hybrid and sabotage warfare targeting Europe and its airspace in connection with the long-running Ukraine war.
They've been further sounding the alarm in the wake of this month's drone incident near a runway at Leipzig Airport. Reports say a drone carrying explosives was found at this location, which remains one of Europe's largest cargo hubs, and is also used for NATO logistics.
https://cms.zerohedge.com/s3/files/inline-images/dronetracker.jpg?itok=PnLchEop
A NATO spokesperson later specified with the explosive-laden drone, which was equipped with a detonator, appeared to have been targeting an aircraft belonging to the Ukrainian cargo carrier Antonov Airlines.
This close call incident came in the wake of a series of mystery drone incidents which in some cases paused operations at commercial aviation hubs in northern Europe. While some episodes could have been the result of hobby drones or else local pranks or false alarms, EU officials have still long suspected Russian-linked nefarious actors.
Now Germany in particular is stepping up anti-drone security and monitoring measures, by establishing its first major drone security research center.
The new Drone Security Technology Center is part of the German Aerospace Centre (DLR), and officially opened Tuesday in the town of Cochsted, which is famous for its aviation history. The center will focus on research and technology for detecting hostile or unknown drone activity, protecting critical infrastructure from such incursions.
German Interior Minister Alexander Dobrindt https://www.deutschland.de/en/news/dobrindt-new-centre-to-research-drone-security, "Together with the DLR we are creating, with the new technology center, a facility that is unique nationwide, where innovative technologies for drone security are researched, developed and tested in real-life laboratories."
He described the new drone threat facing Germany and Europe more broadly as part of the "shadow war of the 21st century".
Leipzig-Halle airport is a big logistics hub for NATO and Ukraine. An attack with an armed drone on a Ukrainian cargo plane there was less hybrid warfare than warfare, full stop https://t.co/GG98Q1Zbkx
— The Economist (@TheEconomist) https://x.com/TheEconomist/status/2089296198670676067?ref_src=twsrc%5Etfw
"Within the growing network of future test-field activities, the National Test Centre plays an integrative role as a trailblazer for future research and development of new UAS technologies within the DLR and for external partners," the center's website states.
The facility will further provide rare opportunity for drones and counter-drone technology to be tested in 'real-world conditions' and in multiple scenarios and settings, officials have described.
https://cms.zerohedge.com/users/tyler-durden
Wed, 08/19/2026 - 02:45
https://www.zerohedge.com/geopolitical/germany-opens-new-drone-security-center-amid-fears-russian-hybrid-warfare

2026-08-18 23:15:00 UTC

Inside The DSA's Dilemma: Grow The Democratic Party Or Become It
Inside The DSA's Dilemma: Grow The Democratic Party Or Become It
https://www.theepochtimes.com/us/inside-the-dsas-dilemma-grow-the-democratic-party-or-become-it-6074411?utm_source=partner&utm_campaign=ZeroHedge,
The Democratic Socialists of America's national leadership was split 14-13 in Chicago this summer. Not over whether to endorse Rep. Alexandria Ocasio-Cortez (D-N.Y.) for president in 2028, but over whether the group's own 120,000 members should even get to vote on the question.
https://cms.zerohedge.com/s3/files/inline-images/image_80%281053%29.jpg?itok=rfknsyD5
The narrow margin, which blocked a nonbinding member poll, landed in the same season the DSA became, by its own count, the largest socialist organization in American history. It also exposed a fault line that the organization's recent winning streak has mostly obscured. The DSA has not settled on what it wants to be.
Ocasio-Cortez has kept the door open for a potential run for White House. Asked on ABC's "This Week" this month whether she would run for president or Senate in 2028, she said, "I haven't ruled out the possibility, and I'm very humbled [by] the tremendous amount of support out there." That leaves the DSA debating an endorsement for a candidacy she has neither confirmed nor denied.
The DSA was formed in 1982 through a merger of two earlier socialist organizations and describes its mission as replacing capitalism with democratic socialism, an economic system in which workers, not private owners, control production and resources. Its platform, called "Workers Deserve More," calls for Medicare for All, a Green New Deal, universal rent control, and an end to mass incarceration.
Some of the DSA's positions have drawn particular scrutiny. The group's platform calls for abolishing Immigration and Customs Enforcement (ICE) and scaling back its deportation efforts, and its "defund the police" plank goes further, calling for eventually eliminating police and prisons altogether.
Within the Party
Frank Llewellyn, the DSA's national director from 2001 to 2011, told The Epoch Times the organization has no interest in becoming a third party, regardless of how the endorsement debate is resolved. Llewellyn is also treasurer for Ocasio-Cortez's congressional campaign, a role he's held since 2018. He said he was speaking in a personal capacity, not on her behalf.
"All the success DSA has had is within the Democratic system," Llewellyn said. "We don't really want a third party. It's a complicated topic, but we are committed to this path, even though there are those who would disagree."
Llewellyn attributed the movement's momentum to shifting economic conditions rather than any single tactic.
"The conditions are driving the success," he said, including "where power lies, changes in the economy, and running people who have that perspective and convincing people they will do their best to make those changes." Voters, he said, simply "see the economy is not working for them."
He also pointed to generational turnover inside the party.
"There's generational change going on," Llewellyn said. "Being around a long time is no longer an advantage."
He was careful not to predict whether the DSA will ultimately back Ocasio-Cortez.
"AOC is a formidable candidate with strong support," Llewellyn said. "I'm sure her future political aspirations will become more defined in due time."
Miriam Bensman, a longtime DSA member in Queens who has organized for the group since the 1980s, told The Epoch Times that staying inside the Democratic Party was a founding principle, not a recent compromise. She traced the debate back to the Socialist Party in the 1960s, before the DSA's 1982 founding, and recalled a New York City Council candidate, Jabari Brisport, who ran on the Green Party and Socialist Party lines and lost, then won a state Senate seat two years later running as a Democrat.
"Overcoming people's loyalty to voting as Democrats was really hard," Bensman said. "People had to learn it for themselves."
Bensman acknowledged that running under the Green Party banner and only gaining 2 percent of the vote wasn't worth the time or the expense.
Bensman, who volunteered for Zohran Mamdani's New York City mayoral campaign, a state Assembly primary, and congressional campaigns in Michigan this year, also said the DSA's momentum reflects economic conditions. She spent much of this year knocking on doors for Assembly candidate David Orkin, who defeated an incumbent in a Queens Democratic primary, and for Rep. Claire Valdez in an overlapping congressional district.
"The inequality of wealth and income has gotten so extreme over the last almost 50 years," she said, pointing to tax cuts dating to President Ronald Reagan's administration, weakened unions, and rising rents. "People are rightfully angry."
She said the DSA sometimes works alongside the Working Families Party, which backs candidates who are not DSA members, including Abdul El-Sayed, the Democratic nominee for U.S. Senate in Michigan. Bensman said she also campaigned this year for Donavan McKinney, a DSA-backed congressional candidate in Michigan.
Bensman's support for the DSA is rooted in ideology, not just electoral tactics.
She said she is "moved by the ideals of democratic socialism," arguing that people can't live dignified lives amid extreme inequality and that democracy itself is compromised when government is shaped by corporate interests and concentrated wealth.
Bensman pointed to healthcare specifically, saying people "shouldn't have to worry about not being able to eat in order to take care of their healthcare," and compared it to services Americans already take for granted, like public schools, libraries, and toll-free roads.
"Even when we can't get all of that," she said, the DSA's platform still "reshapes how we design public programs."
This involves a belief, she said, that "government can help make life better."
Establishment Democrats
State Sen. Michael Gianaris (D-N.Y.) told NY1's Errol Louis that establishment Democrats should not try to block democratic socialist candidates following their recent wins.
"I keep trying to make this point to people who are anti-DSA or whatever it is. You're not opposing these individuals who are running for office. You are opposing thousands of people who vote for them," Gianaris said.
Llewellyn made a similar case in blunter terms, arguing that keeping the party's current coalition intact is not the point.
"Those who can't get on board with the DSA agenda need to leave and find another home," Llewellyn said. "The Democratic corporate money people are at odds with DSA."
That framing puts Llewellyn well to the left of Gianaris, who argues for coexistence rather than a clean break. Where Gianaris describes the DSA's rise as an expansion of the Democratic coalition, Llewellyn frames it as a takeover already underway, one in which the party's older, more moderate wing is expected to adapt or leave rather than the other way around.
The result is a party weighing two different versions of what "making room" for the DSA actually requires. A coalition broad enough to include democratic socialists, or one that eventually replaces its old guard with them.
Party Split
Not everyone views the DSA's rise as a sign of durable strength. Ralph Rebandt, a Michigan pastor of 30 years who ran for governor there, told The Epoch Times the party's leftward shift will cost Democrats votes in November. That kind of accommodation from elected Democrats, he said, is exactly what worries him: a party absorbing a movement it may not be able to control.
Rebandt pointed to Abdul El-Sayed's Senate primary win in Michigan, which relied heavily on college towns, while Democratic voters in Detroit and other working-class areas favored Rep. Haley Stevens.
"There's a huge split right now in the party," Rebandt said. "The Democrats we're talking to and working with in Detroit are telling us they don't want anything to do with socialism or communism."
Rebandt predicts El-Sayed will lose to Republican Mike Rogers in the general election. He also said he expects Generation Z voters, not older Democrats, to ultimately reject the socialist label.
"They know what socialism does. They know what socialism brings, and they don't want that," Rebandt said. "They want to be able to live the American dream."
Asked whether the DSA intends to remain inside the Democratic Party or eventually break away, Rebandt predicted the opposite of a third-party strategy.
"At some point when they feel they're large enough to take over the Democratic Party, they're going to be the Democratic Party," he said. "I don't think they would do a third option."
That prediction lines up with what Llewellyn and Bensman describe as DSA's actual strategy. Growth through Democratic primaries, not a break from the party. Llewellyn pointed to a historical precedent he believes the DSA is emulating.
"The Republicans replaced the Whigs," he said. "They were a third party."
Whether that comparison holds may depend on what the DSA decides to do about Ocasio-Cortez. For now, the narrow vote in Chicago suggests the organization itself has not resolved the question, even as its membership and its influence within the Democratic Party continue to grow.
"People are afraid to argue with us because we are finding success," Llewellyn said.
https://cms.zerohedge.com/users/tyler-durden
Tue, 08/18/2026 - 19:15
https://www.zerohedge.com/political/inside-dsas-dilemma-grow-democratic-party-or-become-it

2026-08-18 07:30:00 UTC

Meta Flags Migration Searches... Then Offers UN Asylum Help
Meta Flags Migration Searches... Then Offers UN Asylum Help
https://rmx.news/european-union/meta-platforms-flag-migration-searches-with-warnings-that-direct-users-to-un-resources-for-asylum-and-relocation/
Meta’s Facebook and Instagram platforms have begun displaying targeted warning messages to users searching for news or information related to mass immigration, including terms such as “Ceuta.”
https://cms.zerohedge.com/s3/files/inline-images/GettyImages-2290723346.jpg?itok=zKuGVmay
The prompts caution users to “be careful when searching for migration info” and include a prominent link or button offering “help with moving to a new country.”
🌍🔴BREAKING: Facebook is now displaying a message warning users to be "careful when searching for migration info" when they search for news related to mass immigration, including keywords like "Ceuta."
If users click on the new link, they will be directed to a page that offers… https://t.co/EherEJiMJX
— Remix News & Views (@RMXnews) https://x.com/RMXnews/status/2089302282038919251?ref_src=twsrc%5Etfw
Clicking through takes users to a Meta Help Center page titled “Help is available if you want to move to a new country.” That page, created in consultation with experts from the International Organization for Migration (IOM) and the Organization for Security and Co-operation in Europe (OSCE), provides tips and guidance to help migrants enter Europe and other states.
https://cms.zerohedge.com/s3/files/inline-images/BeCareful-534x1024.jpg?itok=0XKKG8tN
The site encourages regular migration, compliant with the laws of origin, transit, and destination countries, compared to illegal migration, which it describes as dangerous and likely to expose people to violence, exploitation, and abuse.
https://cms.zerohedge.com/s3/files/inline-images/Screenshot-2026-08-17-at-11.50.3.jpg?itok=UJqikh4M
The resource further directs users to the https://help.unhcr.org/ for information on asylum procedures, resettlement options for recognized refugees, and family reunification. These programs are fueling mass immigration into Europe and North America, often through legal channels, which offer a significantly larger demographic threat than illegal channels.
It also references IOM services and, in related materials and app descriptions circulating with the prompts, points toward the IOM’s MigApp. That mobile application is officially branded by the UN migration agency as a tool for “empowering migrants,” offering information on visas, health regulations, risks, money transfers, document storage, and access to IOM programs.
The feature appears to have rolled out recently and has drawn attention amid a surge of irregular migrant crossings into the Spanish enclave of Ceuta. In late July 2026, tens of thousands of people attempted to enter Ceuta by swimming or scaling border fences, with reports of dozens of deaths.
Investigations showed that many of the attempts were coordinated through large public Facebook groups that shared maps, distances, equipment recommendations, and calls for additional crossings. Meta removed multiple groups after media reports, stating it monitors the situation in real time and removes content that facilitates human smuggling.
Critics argue that Meta’s messaging goes beyond safety warnings and actively steers users, potentially including those researching or considering irregular routes, toward UN institutions that support asylum claims and migrant empowerment. Fox News correspondent Bill Melugin highlighted screenshots of the Instagram interstitial, noting that the “get migration info” pathway leads directly to UN resources for asylum seekers and the empowering-migrants app.
Dan Lyman wrote on X that “journalists in Europe have noticed this ‘guide’ when conducting searches on Instagram for ‘Ceuta.'”
Lyman further notes that a reporter told him, “It’s a guidebook to migration when people are searching for illegal immigration.”
Journalists in Europe have noticed this “guide” when conducting searches on Instagram for “Ceuta.”
“It’s a guidebook to migration when people are searching illegal immigration,” a reporter told me.
This is brand new.
A prompt pops-up with a query followed by a detailed… https://t.co/RXPd4RqQWb https://t.co/GMsChgnZkh
— Wid Lyman (@Wid_Lyman) https://x.com/Wid_Lyman/status/2089113928085184805?ref_src=twsrc%5Etfw
The EU knows that images like Ceuta are a boon to right-wing parties. For those seeking to come to Europe, https://rmx.news/article/von-der-leyen-pushes-for-expanded-legal-migration-routes-into-europe-to-help-those-who-dream-for-a-better-life/. This new prompt from Meta may serve as a guidebook for mass immigration through the legal channels the EU desires.
https://rmx.news/european-union/meta-platforms-flag-migration-searches-with-warnings-that-direct-users-to-un-resources-for-asylum-and-relocation/
https://cms.zerohedge.com/users/tyler-durden
Tue, 08/18/2026 - 03:30
https://www.zerohedge.com/geopolitical/meta-flags-migration-searches-then-offers-un-asylum-help

2026-08-18 03:50:00 UTC

What's Behind Trump's Unexpected Favor To Kim Jong Un?
What's Behind Trump's Unexpected Favor To Kim Jong Un?
https://korybko.substack.com/p/whats-behind-trumps-unexpected-favor
He might be flirting with a radical policy recalibration even if he soon changes his mind...
https://cms.zerohedge.com/s3/files/inline-images/httpssubstack-post-media.s3.amaz%20%2829%29_12.jpg?itok=XhWHN-hm
Trump https://truthsocial.com/@realDonaldTrump/posts/117107215379637520 that the US will “substantially reduce” its participation in the annual https://www.usfk.mil/What-We-Do/Exercises/Ulchi-Freedom-Shield/ large-scale joint military drills with South Korea that he was apparently unaware of till just recently and which began this week. He described his decision as being “Based on my very good relationship with Kim Jong Un” and aimed at not “send[ing] a signal that is totally inappropriate and hostile”. He also complained about its costs and South Korea’s refusal to help the US fight Iran.
Trump’s favor to Kim was unexpected because he https://www.indiatvnews.com/news/world/donald-trump-alleges-that-russia-china-iran-and-north-korea-can-compromise-us-mid-term-elections-2026-07-17-1048534 North Korea alongside Russia, China, and Iran as “US adversaries” just last month who have the ability to manipulate US elections. His Under Secretary of War Elbridge Colby was also in Southeast Asia in early August, where he was replicating the NATO 3.0 concept through what can be called https://www.indiatvnews.com/news/world/donald-trump-alleges-that-russia-china-iran-and-north-korea-can-compromise-us-mid-term-elections-2026-07-17-1048534. While it’s mainly aimed at containing China, fearmongering about North Korea could raise its appeal among some South Koreans and Japanese.
On that topic, those two states are US mutual defense allies, and they share similar threat perceptions of China and North Korea. They’re also rapidly militarizing, with South Korea planning to build its https://thealtworld.com/andrew_korybko/south-korea-will-remain-a-key-part-of-the-us-chinese-containment-plans with American assistance and Japan considering abandoning its https://www.mofa.go.jp/policy/un/disarmament/nnp/, both of which have heightened regional tensions to the US’ divide-and-rule benefit. The same goes for the latest https://korybko.substack.com/p/a-pragmatically-amended-1956-compromise in which https://x.com/USAmbJapan/status/2088109835548286997.
It was therefore completely unexpected that Trump would do Kim a favor as significant as “substantially reducing” the US’ participation in its annual large-scale joint military drills with South Korea since this goes against all of the abovementioned policies. While only he can account for his reasons, and it’s possible that he simply felt like it and there’s nothing deeper, it can’t be ruled out that he has some plan in mind. His South Korean counterpart’s https://www.rt.com/news/644294-south-korea-proposes-dialogue-to/ to resume talks with the North could provide a hint.
Trump might thus be considering the resumption of his own talks with Kim, whether bilaterally like during his first term and/or somehow connected with his “https://korybko.substack.com/p/the-board-of-peace-a-replacement” initiative, the motivation of which could be a blend of personal and geostrategic calculations. As regards the first, he might want to cement his legacy as a “president of peace” like he’s previously described himself as while also distracting from the https://korybko.substack.com/p/heres-how-iran-pulled-off-the-upset of the Third Gulf War that he initiated earlier this year.
On the geostrategic front, Trump might fear that Russia, North Korea, and China could strengthen their military-security ties to the point of a de facto alliance in the face of the challenge that AUKUS+ poses to them all, which could risk World War III by miscalculation if North Korea carries out more nuclear and/or missile tests amidst worsening regional tensions. Essentially, the speculative resumption of Trump-Kim talks could therefore be for escalation-control purposes, though only if they’re successful.
It’s admittedly premature to analyze anything beyond what was already mentioned in this piece, and even that which was written is reasonable conjecture, but it’s nevertheless notable that Trump unexpectedly did such a significant favor for Kim in spite of the rising regional tensions that the US is responsible for. After all, this single move goes against all of the US’ policies in Northeast Asia, so it’s not far-fetched that he might be flirting with a radical policy recalibration even if he soon changes his mind.
https://cms.zerohedge.com/users/tyler-durden
Mon, 08/17/2026 - 23:50
https://www.zerohedge.com/geopolitical/whats-behind-trumps-unexpected-favor-kim-jong-un

2026-08-18 02:10:00 UTC

US Navy Destroyer Suffered 4-Day Power Outage In Sweltering South China Sea
US Navy Destroyer Suffered 4-Day Power Outage In Sweltering South China Sea
Large US naval battleships continue to suffer problems at sea. While there have been many headlines of late detailing the problems of the USS Abraham Lincoln carrier connected to its extended deployment amid the Iran war, a separate warship is having serious problems in Pacific waters, quite apart from the crisis in the Persian Gulf.
"A US Navy guided-missile destroyer spent four days last month without working toilets, galley services and air conditioning in the blistering heat of the South China Sea after the warship lost power," CNN https://www.cnn.com/2026/08/17/asia/us-destroyer-benfold-loses-power-intl-hnk-ml.
https://cms.zerohedge.com/s3/files/inline-images/benfoldfiel.jpg?itok=qQ01iUIt
The military has since confirmed an engineering failure which caused the significant outage, which basically shut down all the ship's systems, including the ability to maneuver on its own.
A US 7th Fleet statement identified that the USS Benfold, an Arleigh Burke-class guided-missile destroyer, was on routine operations in the Indo-Pacific on when an "engineering casualty involving its generators" occurred.
It happened on July 24, and has now set back additional operations. It was supposed to be part of the USS George Washington strike group which is at the moment headed to the Middle East in order to relieve the Lincoln carrier.
However, the Benfold is still stuck in Asian waters. "There were no injuries to the crew, who demonstrated resilience, grit, professionalism, and unwavering steadiness in their response," the US Navy statement said.
The four-day crisis impacted the ship's galley services, toilets, air conditioning and potable water, the 7th Fleet also confirmed. The heat would have been sweltering.
No explanations have been given as to how the crew managed the waste problem. USNI, which first reported the crisis, describes of the repair https://news.usni.org/2026/08/14/uss-benfold-was-stalled-in-the-south-china-sea-for-four-days-after-engineering-casualty:
The George Washington Carrier Strike Group supported the destroyer, according to 7th Fleet. USS Robert Smalls (CG-62), the cruiser attached to the George Washington Carrier Strike Group, helped provide meals for the crew, Comer said.
Contractor tugboats towed Benfold to Subic Bay where it was met by personnel from the Ship Repair Facility – Japan Regional Maintenance Center on July 28, with crew receiving contracted lodging off the ship the next day. Power was restored on July 30, Comer said.
All repairs were completed by Aug. 7 when the ship completed a berth shift for fuel. The destroyer left Subic Bay on Aug. 8.
Benfold, which had been sailing with the George Washington Carrier Strike Group, pulled into Yokosuka, Japan, on Thursday, according to ship spotters. It did not transit the Malacca Strait with the other ships of the GW CSG, which are likely heading toward the Middle East.
The timing of this engineering failure incident is very bad for the navy, given already there's much scrutiny being placed on long deployments at sea connected to the Iran conflict.
US Navy destroyer left without working toilets, food service or AC for FOUR DAYS after losing power in sweltering South China Sea
USS Benfold suffered generator failure on July 24, leaving its crew without basic amenities amid blistering heat — 7th Fleet spox confirms to CNN https://t.co/CJBm5r7jv1
— Michael Ashura (@MichaelAshura) https://x.com/MichaelAshura/status/2089336110241726588?ref_src=twsrc%5Etfw
Congressional leaders are currently focused on the beleaguered USS Abraham Lincoln, amid reports of problems in supplying the ship and mental health problems following a record-deployment.
https://thehill.com/homenews/6033332-senators-demand-uss-abraham-lincoln-info/ reports Monday that "A group of 15 senators said Defense Secretary Pete Hegseth owes Americans answers about the ongoing deployment of the USS Abraham Lincoln aircraft carrier strike group after reports of low morale and a mental health crisis among service members aboard."
https://cms.zerohedge.com/users/tyler-durden
Mon, 08/17/2026 - 22:10
https://www.zerohedge.com/military/us-navy-destroyer-suffered-4-day-power-outage-sweltering-south-china-sea

2026-08-18 01:20:00 UTC

Police Attacked During Massive "Teen Brawl" At Wisconsin State Fair
Police Attacked During Massive "Teen Brawl" At Wisconsin State Fair
The establishment media commonly uses strategic phrases to hide or omit the truth behind certain uncomfortable situations. Since the BLM era, journalists cannot simply describe a violent mob as a "black mob", even if that description is generally true. Today, one must say the words "teen brawl" in order to avoid any implications of race.
It's a very similar tactic to those used by the media in the UK whenever a migrant (or child of migrants) commits a brutal crime - Simply call the suspect a "London Man" or a "Liverpool Man" or a "Glasgow Man" and hope no one asks questions.
In the US, whenever the media uses the words "teen brawl", it's easy to conclude who was involved. The fatigue is real.
Over the weekend the Wisconsin State Fair in West Allis (a suburb of Milwaukee) experienced yet another of these seemingly spontaneous outbreaks of chaos when a horde of "teens" flooded into the event and began randomly attacking anyone nearby. It should be noted that even the witnesses are reticent to admit who the culprits were, choosing their words carefully.
Witness accounts report that law enforcement officers on scene https://www.jsonline.com/story/news/crime/2026/08/17/several-fights-broke-out-on-final-day-of-2026-wisconsin-state-fair/91336715007/, with multiple police suffering injuries. Dispatch audio indicates chaotic moments near the rides. "They need some help at Spin City. Send anybody extra you have," one police officer https://www.wisn.com/article/actress-hayden-panettiere-dies/73447913.
🚨https://x.com/hashtag/BREAKING?src=hash&ref_src=twsrc%5Etfw: Absolute CHAOS broke out at the Wisconsin State Fair as "teens" began BEATING ANYONE IN SIGHT.
MULTIPLE police officers were badly beaten, as families with kids were seen RUNNING FOR THEIR LIVES as teens began brawling.
WE DON'T HAVE TO LIVE LIKE THIS!!! https://t.co/gBbE73ph3f
— Matt Van Swol (@mattvanswol) https://x.com/mattvanswol/status/2089317567231902198?ref_src=twsrc%5Etfw
Last day of the Wisconsin State Fair.
They went on a rampage. Anyone they could get their hands on. Shots were allegedly fired.
They’re calling it Killwaukee now.
We can’t keep living like this, something has to change. https://t.co/AJ7Xi3BPiZ
— Kim "Katie" USA (@KimKatieUSA) https://x.com/KimKatieUSA/status/2089366388825641075?ref_src=twsrc%5Etfw
Local news reports show police attempting to https://www.jsonline.com/story/news/crime/2026/08/17/several-fights-broke-out-on-final-day-of-2026-wisconsin-state-fair/91336715007/, but the assailants swarm into the fairground crowds to avoid arrest. Roving mob fights involving black "youths" are common at state fairs across the region every year. The Minnesota State Fair reported similar incidents last year and rumors suggest a "bigger brawl" is likely this year.
It’s not just Wisconsin.
This was the Minnesota State Fair last year—and the year before there was a shooting in the midway.
Every year it gets more and more violent. I wonder why🤔https://x.com/hashtag/fight?src=hash&ref_src=twsrc%5Etfwhttps://x.com/hashtag/statefair?src=hash&ref_src=twsrc%5Etfw https://t.co/ktUFWO8377 https://t.co/7Um9Tc6oYy
— AmyLouWho (@perseverare1776) https://x.com/perseverare1776/status/2089431809150840998?ref_src=twsrc%5Etfw
Why start brutal fights at the state fair? Maybe because the whole point is to ruin everyone else's day. Maybe the point is simply to create chaos and bask in the violence and misery. What is clear is that events that used to be safe for families are being turned into open melees just so urban demographics can revel in their own lack of impulse control.
https://cms.zerohedge.com/users/tyler-durden
Mon, 08/17/2026 - 21:20
https://www.zerohedge.com/political/police-attacked-during-massive-teen-brawl-wisconsin-state-fair

2026-08-17 08:15:00 UTC

U.S. Drafts Ultimatum for Allies Joining China's AI Bloc
U.S. Drafts Ultimatum for Allies Joining China's AI Bloc
The United States is preparing to tell 35 countries they cannot belong to both the American and Chinese artificial intelligence coalitions, and that joining Beijing's framework will cost them their place in Washington's, according to an undated State Department draft letter reviewed by Reuters and a U.S. official who spoke on condition of anonymity.
https://cms.zerohedge.com/s3/files/inline-images/1713761314781_80.jpg?itok=i_kfoc7u
The letter is addressed to the signatories of an "AI Opportunity Statement" the United States circulated in June, a group that includes members of Pax Silica, the non-binding framework Washington launched last year to secure supply chains for critical minerals, semiconductors and AI models, https://www.cnbc.com/2026/08/15/us-to-tell-allies-they-must-pick-sides-in-ai-race-with-china-reuters.html reported.
"To be part of everything is to be part of nothing. Signature of the Pax Silica Declaration is not merely a membership subscription, but a commitment."
The letter urges signatories to choose deliberately and does not name China. The U.S. official said the document was drafted to make clear that countries "can't have it both ways," speaking on condition of anonymity because internal discussions are continuing.
The letter has not been sent. Reuters reported it could not determine when the State Department intends to deliver it, or whether the wording will be revised first, and said the draft carried no date. The department declined to comment on what it called "purportedly leaked internal documents."
Kazakhstan was likely the trigger - as the only country known to have joined both frameworks. Reuters described it as a potentially important source of the critical minerals the American strategy is built to secure.
Xi Jinping launched the rival World Artificial Intelligence Cooperation Organization in July, promoting Chinese open-weight models - systems whose weights can be downloaded, modified and run on local hardware - as a challenge to U.S. influence over the sector.
China's embassy in Washington said Beijing opposes politicizing trade and technology, and that such moves "will only stifle global AI advances and serve no one's interests." The Kazakh embassy did not respond to a request for comment.
Roughly two dozen countries have joined Pax Silica, among them Japan, Australia and South Korea. The framework pushes signatories toward joint projects and coordinated export controls and away from depending on adversaries for AI inputs. Membership is non-binding.
Chinese open-weight models have closed much of the gap with the proprietary systems built by U.S. firms including OpenAI and Anthropic, a shift that has given Beijing's coalition more to offer than it had a year ago.
China has used the renewed tariff fight to demonstrate the leverage of its dominance in critical mineral processing, and Washington has moved to secure alternative domestic and allied supplies.
Pax Silica has announced accessions individually and has never published a full https://thenextweb.com/news/pax-silica-us-letter-35-countries-china-ai-coalition. The identities of most of the 35 countries being asked to choose are not publicly known.
https://cms.zerohedge.com/users/tyler-durden
Mon, 08/17/2026 - 04:15
https://www.zerohedge.com/political/us-drafts-ultimatum-allies-joining-chinas-ai-bloc

2026-08-15 21:30:00 UTC

Fauci In Hiding As ABC Censorship Bombshell Explodes
Fauci In Hiding As ABC Censorship Bombshell Explodes
https://modernity.news/2026/08/15/fauci-in-hiding-as-abc-censorship-bombshell-explodes/,
Dr. Anthony Fauci just refused a private transcribed interview with Sen. Ron Johnson's subcommittee. The same week, a former ABC News correspondent revealed that the network gutted a 2021 Wuhan lab leak investigation after the script was sent to Fauci for review.
https://cms.zerohedge.com/s3/files/inline-images/3469%20%281%29.jpg?itok=elaWoIrE
The pattern is unmistakable. Stonewall. Censor. Invoke privilege. Repeat.
On Friday, Fauci's attorney notified Sen. Ron Johnson that the former NIAID director would not appear for a closed-door, transcribed interview as part of the ongoing investigation into the failed COVID response.
? WTF?! Dr. Fauci has just REFUSED to show up for a private transcribed interview with Sen. Ron Johnson as part of his investigation
Subpoena and CONTEMPT, ASAP!
Haul the traitor in and charge him if he doesn't comply.
JOHNSON: "Apparently, he has a lot to hide. Since Fauci... https://t.co/FLxU7wEQOM
— Eric Daugherty (@EricLDaugh) https://x.com/EricLDaugh/status/2088623988851331193?ref_src=twsrc%5Etfw
Johnson laid it out plainly:
"Dr. Fauci's attorney has just notified us that Fauci refuses to appear for a private transcribed interview. The American people deserve answers to legitimate questions regarding our miserably failed response to COVID-19. Some of those questions can only be answered by Dr. Fauci. He arrogantly once stated that he was 'very happy to testify before any congressional oversight committee. I have nothing to hide.' Apparently, he has a lot to hide. Since Fauci refuses to talk about his role and decisions related to COVID-19, my Subcommittee will continue to obtain his records and request to speak with key individuals that he worked with. We will explore our legal options before deciding our next steps."
This comes days after the Senate Homeland Security and Governmental Affairs Committee voted along party lines to hold Fauci in contempt for his July 29 performance, where he invoked the Fifth Amendment roughly 112 times.
Fauci's lawyer responded to Johnson's request by claiming any effort to compel his appearance would "impermissibly harass or degrade Dr. Fauci for political purposes."
The AP reported the decline, noting it followed the partisan contempt vote and the earlier hearing in which Fauci repeatedly declined to answer questions about pandemic decisions, origins, and funding.
The contempt referral is already heading toward the Justice Department. Sen. Rand Paul has argued the Biden preemptive pardon removed any legitimate basis for the Fifth Amendment claims, leaving Fauci with no shield against answering.
While Fauci ducks the Senate, a separate bombshell landed from inside the media machine that once amplified him.
Former ABC News senior national correspondent Terry Moran, speaking on The Fifth Column podcast, described what happened to his early 2021 Nightline investigation into the COVID lab-leak theory.
Moran said the piece examined evidence that the Wuhan Institute of Virology had received Chinese military funding - something the lab's "Bat Lady" Shi Zhengli had denied. He and his team laid out the arguments.
Then the review hit.
"The day it was supposed to air, it gets 'reviewed.' It comes back to me...I was told: FAUCI," Moran stated.
He added that he was "absolutely livid," cursing in the booth as the final product arrived "incomprehensible," loaded with caveats and legalized language that stripped the original work of meaning.
"I've never watched that story [again] and I never want to. Because it wasn't mine, and most importantly, because it was incomprehensible."
He was told the script had gone to lawyers, standards - and Fauci.
? BOMBSHELL: It was just exposed that ABC CENSORED the COVID Wuhan lab leak report in 2021 because Dr. Fauci told them not to publish it
Terry Moran: "The day it was supposed to air, it gets 'reviewed.' It comes back to me...I was told: FAUCI."
ABC is COMPLICIT, and Fauci... https://t.co/ZhO8eOuLcm
— Eric Daugherty (@EricLDaugh) https://x.com/EricLDaugh/status/2088621389863383184?ref_src=twsrc%5Etfw
This was not a conservative activist speaking. Moran is a longtime network journalist. His account directly undercuts years of media insistence that questions about the lab were fringe conspiracy theories while Fauci and allies worked to shut them down.
These latest refusals and revelations sit atop a mountain of prior evidence already documented.
Secret texts recovered from Fauci's government iPhone showed him privately warning in January 2021 that the second COVID vaccine dose "theoretically could be associated with miscarriage in the 1st trimester" because of cytokine storms and fever. Publicly, he and other officials pushed the shots for pregnant women with no such caveats.
Emails previously released by Sen. Rand Paul showed Fauci instructing then-NIH Director Francis Collins to "read it, then destroy it" - language Paul has called a violation of federal records law.
At the July 29 hearing itself, Fauci offered an opening statement accusing Paul of an "unhinged obsession," then refused nearly every substantive question.
CNN legal analysts noted that the 112 Fifth Amendment pleas likely made his position worse, given the pardon removed criminal jeopardy and left him exposed to contempt.
The American people watched schools shuttered, businesses destroyed, and dissent crushed while the same officials privately fretted about risks they would not acknowledge publicly.
Now the central figure in that response continues to refuse basic questions under oath or in transcribed interviews, and a network reporter has confirmed that even internal journalistic work was routed through him for approval.
Johnson's subcommittee says it will keep pursuing records and other witnesses. The contempt referral sits with the Justice Department. The lab-leak story that was sanitized in 2021 is no longer radioactive. Accountability is no longer optional.
Fauci had years of unmatched power and media deference. That time is over.
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https://cms.zerohedge.com/users/tyler-durden
Sat, 08/15/2026 - 17:30
https://www.zerohedge.com/covid-19/fauci-hiding-abc-censorship-bombshell-explodes