Skip to main content
The FYCKL Project
No AI. No Bull.

Main navigation

  • Home
User account menu
  • Log in

Breadcrumb

  1. Home
  2. Aggregator
  3. Sources

Zero Rss

Let's Hear It For The Dads

Zero Rss
3 months 1 week ago
Let's Hear It For The Dads

Authored by Silvio Canto via American Thinker,

It’s another Fathers’ Day, and let me say a cheer for our fathers.

I was blessed with a wonderful father, who led by example and taught me all the right values.  He passed away back in late 2015, but I still remember having a little Cuban coffee and enjoying a game on TV.  I would love to have another of those Sunday afternoons back, because I miss them dearly.  We spoke about so much in those moments.

I remember the time that we were watching a news story about people breaking into stores and stealing things.  He looked at me with a very serious face and said, ”Where are their fathers?  No fathers means young men who don’t respect order.”

There is more to fathers than remembering what my father thought of young men acting wild.  

We do have a “father crisis” in many communities in the U.S.

Years ago, Juan Williams, author and Fox News contributor, wrote “The Tragedy of America’s Disappearing Fathers”:

The extent of the problem is clear.

The nation’s out-of-wedlock birth rate is 38%.

Among white children, 28% are now born to a single mother; among Hispanic children it is 50% and reaches a chilling, disorienting peak of 71% for black children.

According to the National Center for Health Statistics, nearly a quarter of America’s white children (22%) do not have any male in their homes; nearly a third (31%) of Hispanic children and over half of black children (56%) are fatherless.

This represents a dramatic shift in American life.

In the early 1960s, only 2.3% of white children and 24% of black children were born to a single mom.

Having a dad, in short, is now a privilege, a ticket to middle-class status on par with getting into a good college.

Fathers’ Day is here. 

 Let’s remember a simple truth: We need men to be responsible fathers now more than ever.

Tyler Durden Sun, 06/21/2026 - 21:00
Tyler Durden

Downtown Seattle Lost 30,000 Jobs Since 2020 Payroll Tax: Report

Zero Rss
3 months 1 week ago
Downtown Seattle Lost 30,000 Jobs Since 2020 Payroll Tax: Report

Authored by Dylan Morgan via The Epoch Times,

A new report from the Downtown Seattle Association published June 15 stated that downtown Seattle has lost around 30,000 jobs since 2020, when city leaders passed the “JumpStart” business tax, while neighboring Bellevue has become more attractive for businesses.

“What we have seen in downtown Seattle is not a ‘jump start,’ but instead, a slowdown,” the report stated.

“Seattle has become a tax outlier in the region, and it’s costing the city jobs and tax revenue, while shifting the property tax burden to residents and small businesses, worsening overall affordability in the city.”

The nonprofit membership organization said it conducted an audit comparing the city’s tax environment and business climate with that of Bellevue.

In 2020, the City Council said the “JumpStart Tax,” which currently taxes Seattle businesses that pay more than $9,074,409 on payroll expenses with at least one employee making over $194,452, was to address COVID-19 economic impacts as well as to support existing city services and new affordable housing.

“We are in the midst of a health and economic crisis that even a strong economy like Seattle may not be able to recover from quickly,” Councilmember Teresa Mosqueda said in 2020.

“JumpStart Seattle will ... jump start our recovery with a relief plan that centers workers, small businesses and our most vulnerable community members.”

The report found the tax costs Seattle businesses between $1,450 and $9,390 per employee.

In 2026, the JumpStart tax is projected to bring in $410 million.

Bellevue has no such tax.

The report also showed that Seattle property tax compared to property value had increased nearly 48 percent from $3.79 per $1,000 in 2019, to $5.60 in 2026.

In that same time, Bellevue property tax decreased from $3.72 per $1,000 to $3.12, an approximately 19 percent drop.

It said that downtown Seattle’s office properties have fallen 48 percent in value between 2020 and 2025, while downtown Bellevue’s had increased 7 percent during that same period.

It added that Seattle’s Central Business District had an office vacancy rate of 6.7 percent in 2019, which climbed to 32 percent in 2025, while Bellevue’s rose from 2.5 percent to 24 percent in that period.

“When comparing business tax burdens and broader tax trends in Seattle and Bellevue, the contrast is clear: Bellevue’s more favorable tax climate has made it increasingly attractive to employers and investment relative to Seattle,” the report said.

The Epoch Times reached out to the Seattle City Council but did not receive a response by publication.

Amazon, which is headquartered in Seattle, has been gradually increasing its footprint in Bellevue, as the company said it became the city’s largest employer, growing from 450 employees in 2017 to more than 15,000 this year.

The company’s footprint expansion in Bellevue has also come with significant investment outside of office space. It committed $100 million to fund affordable housing initiatives in Bellevue and $22.6 million for local transportation projects.

Tyler Durden Sun, 06/21/2026 - 19:50
Tyler Durden

Meet Steak 'n Shake's First MAHA Officer

Zero Rss
3 months 1 week ago
Meet Steak 'n Shake's First MAHA Officer

Authored by Jeff Louderback via The Epoch Times,

DALLAS—Lunch at Steak ‘n Shake is served for Michael Boes. The plate in front of him has a grass-fed burger and beef tallow fries. He washes it down with cane sugar Coca-Cola.

“Fast food doesn’t have to mean processed, complicated, or artificial. It used to mean real, simple, and delicious - and it can again,” Boes said.

Michael Boes, Steak 'n Shake's chief Make America Healthy Again (MAHA) officer, in Irving, Texas, on June 15, 2026. Bobby Sanchez/The Epoch Times

Founded in Normal, Illinois, in 1934, Steak ‘n Shake was most known for its steakburgers and hand-dipped milkshakes for decades. Almost a century later, the chain is building its brand around the Make America Healthy Again (MAHA) movement.

The heart of Steak ‘n Shake’s transformation is a bold pledge: to eliminate industrial seed oils from its menu items and shift to cleaner ingredients.

Leading the transformation is Boes, one of the forces behind the 2025–2030 Dietary Guidelines for Americans. In April, he was named the restaurant chain’s first chief MAHA officer.

A former senior adviser within the Department of Health and Human Services (HHS) Office of the Assistant Secretary of Health, Boes holds a position described by the company as “a new executive role dedicated to advancing nutritional integrity, ingredient transparency, and the long-term health of Steak ‘n Shake customers.”

Sardar Biglari is the chairman and CEO of Biglari Holdings, the owner of Steak ‘n Shake. When announcing the hiring of Boes, Biglari called the position “a sign of our continued commitment to make Steak ‘n Shake the great differentiator in fast food.”

“Michael is ideally suited for such a role, with his deep understanding of nutrition and his experience at the highest level of health policymaking,” Biglari said. “To put it simply, good-tasting food should also be good for you.”

The company announced in May that it would make the switch to “100 percent grass-fed and grass-finished” beef. In March last year, the company announced the switch from seed oils to beef tallow. In February 2026, it said it would remove all microwaves from franchise locations by April, writing in an online post that “quality restaurants don’t need microwaves.”

Steak ‘n Shake prepares fries, tater tots, onion rings, and chicken tenders in 100 percent beef tallow with “no additives, preservatives, or chemicals.”

On its website, the company explained that it has worked with its manufacturer of fries and tots to completely eliminate the vegetable oil formerly used to fry the product before freezing and shipping it to the restaurants. As a result, Steak ‘n Shake’s beef tallow fries and tots are not yet completely free of seed oils, according to the website.

“Transitioning away from seed oils is a journey, and we continue to work with our other suppliers to achieve our goal,” the company said on its website.

The chain uses 100 percent Grade A Wisconsin butter sourced from a family farm and it serves cane sugar Coke rather than drinks that have high fructose corn syrup. Last December, Steak ‘n Shake switched to A2 Milk, which is “100 percent real milk from cows that naturally produce only the A2 protein and no A1,” which may help with digestion, according to A2 Milk’s website.

Boes noted that Steak and Shake is still early in its transformation.

“We took the bold step to say we’re going to drive the demand side in order to impact the supply side,” Boes said.

“The website is a prime example of the transparency and messaging, saying up front that we are making this transformation, but it’s not going to be complete overnight, so please stick with us.”

Boes, who grew up in the Dallas area, earned a bachelor’s degree from Texas Christian University followed by an MBA from Southern Methodist University.

He worked in healthcare technology with a focus on commercial growth for 15 years before joining HHS. He developed expertise in nutrition after addressing personal health challenges.

“I had gut and skin issues, I had trouble putting weight on, and I was on medication for ADD. I didn’t feel healthy,” he said.

Positive changes happened, Boes explained, when he eliminated processed foods and started eating whole foods. In a matter of months, he gained “healthy weight,” added muscle, and felt more energetic.

From that point, he became immersed in reading articles and listening to podcasts about biohacking, which is a do-it-yourself form of personal improvement in which people focus on changing their biology to improve their overall health and well-being.

“The chronic disease epidemic and mental health crisis are tied to what we put into our bodies. I wanted to be a part of influencing positive change in those areas,” Boes said.

After attending President Donald Trump’s inauguration, Boes was driven to work with the new administration, he said.

He made cold calls and sent emails to figures such as Stefanie Spear, who served as the press secretary for Health Secretary Robert F. Kennedy Jr.’s presidential campaign and is now Kennedy’s chief of staff. HHS expressed interest, Boes said. After a phone call and two interviews, and learning that they sought private sector professionals, he joined the agency and helped develop the new dietary guidelines.

Boes’s career path evolved once again after a chance meeting with Biglari at the wedding of Alex Bruesewitz, a political consultant and an adviser to Trump.

Biglari told Boes that he wanted to align Steak ‘n Shake with the growing movement of health-conscious consumers.

“I had my opportunity to impact the regulatory side. Now I have this opportunity to prove that not only is there a regulation component to this, but also MAHA can be the cornerstone of a brand,” Boes said.

“That is a powerful story that can impact people and shape the industry,” he added.

Boes said that in his previous role with HHS, he talked to multiple restaurant companies and asked them if there was a way they could work collaboratively with the agency and reform the food environment.

A Steak 'n Shake restaurant in Middletown, Del., on July 26, 2019. The fast food chain in April hired a chief MAHA officer, an industry first. Jim Watson/AFP/Getty Images Tyler Durden Sun, 06/21/2026 - 18:40
Tyler Durden

Explosion At Qatar's Ras Laffan Industrial Area Due To "Technical Incident"

Zero Rss
3 months 1 week ago
Explosion At Qatar's Ras Laffan Industrial Area Due To "Technical Incident"

A massive explosion rocked Qatar's giant Ras Laffan energy complex. 

BREAKING: HUGE EXPLOSION AT RAS LAFFAN INDUSTRIAL CITY IN QATAR’S LARGEST GAS FACILITY

The blast was so strong it was heard in Bahrain and reportedly felt like an earthquake. pic.twitter.com/4bdCH0eeWd

— Sulaiman Ahmed (@ShaykhSulaiman) June 21, 2026

According to Qatar's interior ​ministry, an explosion ‌resulting from a "technical accident" occurred on Sunday at a factory ​in Ras Laffan, an ​industrial city north of the ⁠capital Doha and site of ​the country's core LNG ​processing operations. It said several injuries were reported but no leak that "threatens safety".

Unverified footage circulating on social media shows an explosion at a factory in Ras Laffan Industrial area, located in Qatar. pic.twitter.com/AiqqTxfV6l

— Joe Truzman (@JoeTruzman) June 21, 2026

The ​ministry did not give ​the exact location of the explosion, ‌but ⁠a source with knowledge of the matter said it occurred at the Barzan gas ​plant ​in ⁠Ras Laffan and was due to an "operational error".

In a post on X, Qatar Energy confirmed that in the evening hours of Sunday 21 June 2026, there was an operational incident during the start-up of operations at Ras Laffan Industrial City which resulted in an explosion and fire at Barzan local gas supply facility. It added that emergency response teams were deployed immediately to contain the fire, which is now under control.

Operational Incident at Ras Laffan Industrial City

QatarEnergy confirms that there was an operational incident during the start-up of operations at Ras Laffan Industrial City which resulted in an explosion and fire at Barzan local gas supply facility in the evening hours of…

— QatarEnergy (@qatarenergy) June 21, 2026

Shortly after the start of the war, Iranian attacks on the Ras Laffan complex crippled some of the most important LNG facilities prompting Qatar to predict that it would take as much as 5 years for the country's LNG production to come back fully online. 

Tyler Durden Sun, 06/21/2026 - 17:30
Tyler Durden

What History Teaches Us About Why So Many Eventually Flee Socialism

Zero Rss
3 months 1 week ago
What History Teaches Us About Why So Many Eventually Flee Socialism

Authored by Armstrong Williams via The Epoch Times,

History is filled with political movements born from noble promises. Few have been more appealing in theory than socialism. At its heart, socialism promises greater equality, economic fairness, and protection for those who struggle in a competitive marketplace. It speaks to the desire for justice and the belief that no person should be left behind.

Yet history also teaches a sobering lesson: While millions have voted for socialism, millions more have ultimately fled from it.

Why?

The answer is not found in campaign slogans or academic theories. It is found in the lived experiences of ordinary people across generations and continents.

Throughout the 20th century, socialist governments emerged across Eastern Europe, Asia, Africa, and Latin America. Many came to power promising to eliminate poverty, reduce inequality, and place the needs of the people above the interests of the wealthy. In the beginning, those promises often generated enormous enthusiasm. Citizens were told that government planning would be more efficient than free markets, that collective ownership would create fairness, and that centralized control would produce prosperity for all.

The results, however, frequently fell short of the promises.

One recurring problem was the concentration of power. When governments assume responsibility for directing large portions of the economy, political leaders inevitably gain greater control over employment, investment, production, and distribution. Over time, this concentration of authority often extends beyond economics into other aspects of society.

History shows that when governments acquire greater power, citizens frequently lose a measure of independence. Economic freedom and political freedom are often more closely connected than many realize. When a person’s livelihood depends heavily upon the state, dissent becomes more difficult and individual choice becomes more limited.

Another lesson history teaches is that incentives matter.

Human beings respond to rewards, risks, and opportunities. Free-market systems are far from perfect, but they have consistently demonstrated a remarkable ability to encourage innovation, entrepreneurship, and productivity. When individuals are allowed to benefit from their hard work, creativity, and investment, economies tend to grow.

By contrast, heavily centralized systems often struggle to generate the same level of innovation and efficiency. Bureaucracies can become slow, inflexible, and disconnected from local realities. Over time, shortages, inefficiencies, and declining productivity have plagued many state-controlled economies.

This does not mean capitalism is without flaws. It clearly is not. Free markets can produce inequality, abuse, and economic dislocation. They require regulation, accountability, and moral responsibility. But history suggests that replacing markets with extensive government control often creates a different set of problems—problems that can be even more difficult to solve.

Perhaps the most powerful evidence comes from migration patterns.

Throughout modern history, people have overwhelmingly moved toward societies that offered greater economic freedom rather than away from them. From East Germans risking their lives to cross the Berlin Wall to Cubans crossing dangerous waters to Venezuelans fleeing economic collapse, countless individuals have voted with their feet.

This reality deserves careful consideration.

People rarely abandon their homes, families, language, and culture without compelling reasons. When citizens repeatedly leave countries governed by socialist systems in search of opportunity elsewhere, it raises important questions about the long-term sustainability of those systems.

The lesson is not that every policy associated with socialism is inherently wrong. Many democratic societies incorporate social safety nets, public health care programs, retirement systems, and other forms of government support while maintaining market economies and strong democratic institutions.

The real lesson is about balance.

Successful societies tend to recognize both the strengths and limitations of government. They understand that government has an important role in protecting the vulnerable, enforcing the rule of law, and providing essential public services. At the same time, they recognize that prosperity is often driven by individual initiative, private enterprise, innovation, and economic freedom.

As younger generations debate the merits of socialism, they should do so with an appreciation for history rather than romanticized visions of what might be. Good intentions alone do not guarantee good outcomes. Policies must ultimately be judged not by their promises but by their results.

History’s verdict is neither simple nor ideological. It is practical. Again and again, people have demonstrated through their actions that they value freedom, opportunity, and the ability to shape their own destinies. When those things become scarce, many eventually seek them elsewhere.

That is perhaps the most enduring lesson history offers: People may be attracted by promises of equality, but they are often willing to travel great distances—and endure great hardship—in pursuit of liberty.

Today, these lessons are becoming part of the American political conversation. With socialist candidates gaining influence in major cities—two examples being the rise of Councilwoman Janeese Lewis George in Washington, D.C., and the growing prominence of Mayor Zohran Mamdani in New York City—voters are once again debating the proper balance between government intervention and individual enterprise.

Supporters see these movements as a response to rising costs, housing shortages, and economic inequality. Critics see warning signs that history has presented before. Whatever one’s political perspective, the debate should not be driven by slogans or emotion alone. It should be informed by the experiences of nations that have already traveled this road.

The harsh lessons of history are not that compassion is dangerous or that government has no role to play. Rather, they remind us that concentrated power, diminished economic freedom, and excessive dependence on the state often carry consequences that emerge only over time.

America’s future will not be determined by labels such as “capitalist” or “socialist.” It will be determined by whether we preserve the freedom, opportunity, innovation, and personal responsibility that have long defined the nation’s success while ensuring that those who struggle are not left behind.

History remains our greatest teacher. The question is whether we are willing to learn from it.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Sun, 06/21/2026 - 17:30
Tyler Durden

The Market Is Carrying More Length & More Leverage: Goldman Flows Guru Warns... Expect More Volatilit

Zero Rss
3 months 1 week ago
The Market Is Carrying More Length & More Leverage: Goldman Flows Guru Warns... Expect More Volatilit

The biggest discussion that top Goldman Sachs trader (and flows guru), Lee Coppersmith, had with clients this week wasn’t whether AI is over - it wasn’t.

The debate has shifted to how investors should own it from here.

If anything, the secular backdrop across both the US and Asia continues to strengthen. Capex expectations remain robust, earnings revisions continue to move higher, and we saw another week of significant inflows into US technology.

Prime Brokerage data tells the same story - Semis are on pace to finish as the most net bought global subsector for a second straight year, with net allocations now at record highs.

What’s changing isn’t the fundamental story - it’s the market structure. leverage continues to build, and volatility across large-cap Tech continues to expand relative to the broader market even as prices move higher.

At the same time, global HF net leverage has climbed to 4-year highs and this is one of the sharpest increases over a 4-week period in the past 5 years, driven by significant net buying activity and mark-to-market … Here’s our full PB rundown.

We’re also seeing some signs of broadening despite a pickup in that debate at the end of the week. Flows have expanded into Financials, cyclicals and parts of Europe and Asia, but not at the expense of AI. In fact, while overall US Tech exposure has risen toward 5-year highs, Mag 7 gross and net exposure has fallen to 1-year lows as investors rotate deeper into the AI ecosystem - particularly Semis and Asian chipmakers - rather than simply adding more mega-cap exposure.

The other major takeaway from June is that macro is back. The Iran deal serves to remove one inflation risk and Brent gave back much of its geopolitical premium, only for the Fed to replace it with renewed policy uncertainty. Front-end rates repriced higher following a hawkish FOMC, and markets should now recalibrate event volatility premium more carefully (see NFP day and FOMC day as prime examples).

One interesting observation has been how quickly investors have faded geopolitical risk. Brent has retraced most of its war premium, Managed Money has sold nearly $25bn of crude over the past seven weeks, outright shorts have reached new highs after a record build this past week, and net length now sits below pre-war levels (h/t Rob Quinn). Investors have been remarkably quick to close the book on oil and shift their attention back toward rates and Fed policy.

Brent Managed Money Shorts – weekly change

Finally, systematic flows remain an important amplifier. Dealer gamma from leveraged ETFs - particularly in markets like Korea - continues to reinforce both upside momentum and downside moves, adding another source of volatility beneath the surface. One stat that stood out to me: leveraged ETF dealer gamma rebalancing can exceed 20% of Korea's market ADV on large-move days.

Our takeaway hasn’t changed - AI remains the highest-conviction secular story we hear from clients and continues to attract capital globally.

But June has been a reminder that even the strongest secular themes don’t trade in a vacuum.

The market is carrying more length, more leverage and, as a result, more volatility.

Professional subscribers can read all the links above from Goldman's Sales & Trading team here at our new Marketdesk.ai portal

Tyler Durden Sun, 06/21/2026 - 16:55
Tyler Durden

UK Prime Minister Keir Starmer Expected To Resign On Monday: Report

Zero Rss
3 months 1 week ago
UK Prime Minister Keir Starmer Expected To Resign On Monday: Report

Keir Starmer's premiership appears to have entered its final act. Just over a week after Andy Burnham stormed back into Parliament with a crushing by-election win, the Prime Minister is - according to senior Labour figures cited by The Observer - preparing to set out a timetable for his own departure, with a "clear statement" possible as early as Monday.

Peter Macdiarmid/Pool via REUTERS

It would be a remarkable collapse. Starmer led Labour to a landslide less than two years ago. He now looks unable to command the confidence of his own benches for much longer, with cabinet ministers, union leaders and donors reportedly among those who have been involved in the conversations about his future.

Burnham, the outgoing Greater Manchester mayor, did not just win Makerfield - he buried it. Official figures show him taking 24,927 votes, 54.8% of the total, beating Reform UK's Rob Kenyon by a 9,231-vote margin in a seat where Nigel Farage's party had been threatening to turn Labour's crisis into a rout. The result gives Burnham the Commons seat he needs, clears his path to a leadership challenge, and leaves Starmer's position looking terminal.

Also, Starmer's former Chief of Staff - Morgan McSweeney - was the sacrificial lamb in the Mandelson scandal (recall that Starmer appointed Jeffery Epstein pal Peter Mandelson as the UK's ambassador to the US). McSweeney also targeted Zerohedge, The Federalist and Breitbart in a clandestine campaign against alternative-media outlets. He resigned in February, two weeks before Mandelson was arrested on suspicion of passing insider info to Jeffrey Epstein in 2009, when he was serving as Business Secretary.

Meanwhile - he just... tweeted it out:

BREAKING: President Trump confirms Keir Starmer is resigning as Prime Minister… before Starmer has confirmed it himself. The final humiliation. pic.twitter.com/yz33xD4rPt

— Piers Morgan (@piersmorgan) June 21, 2026 Markets Eye The Monday Open

The political risk did not go unnoticed by bond traders. UK 10-year gilt yields climbed to 4.84% on Friday, up roughly 0.09 percentage points on the session, as markets weighed Burnham's victory, domestic political uncertainty, and the possible fiscal implications of a future leadership bid.

With markets shut over the weekend, the next read comes at Monday's open, and any Starmer statement setting out an exit timetable will land straight into it.

//--> //--> //--> Starmer out by June 22, 2026?
Yes 63% · No 37%
View full market & trade on Polymarket

Burnham is due to be sworn in as an MP on Monday and to meet Starmer early in the week, with a cabinet meeting scheduled for Tuesday. Senior Labour figures expect a "deliberate slow march in good order" - most likely a September handover timed to the party conference - rather than an immediate vacuum.

According to the report, Burnham's supporters claim he has secured backing from more than 201 Labour MPs if Starmer refuses to step down voluntarily. The Observer framed that as a critical number because it would represent more than half the Parliamentary Labour party and would make it increasingly difficult for Starmer to argue that he still commands the confidence of his own side.

A formal challenge requires far fewer names. Under Labour's rules, any challenger needs nominations from 20% of Labour MPs - currently 81 - plus the required support from local parties and affiliates. On every count, the door is open.

Starmer Digging In?

For now, at least in public, Starmer is not going quietly. On Friday he congratulated Burnham on X - framing the result as a win for "Labour's campaign of hope and optimism over division and hate" - while insisting he would stand in any leadership contest and still had "more to do."

Congratulations, @AndyBurnhamGM, Labour's new MP for Makerfield.

Voters chose Labour's campaign of hope and optimism over division and hate.

— Keir Starmer (@Keir_Starmer) June 19, 2026

By Saturday the mood music had shifted. The Observer reports that Starmer was spending the weekend at Chequers with his wife, Victoria, weighing his future after a round of conversations with cabinet ministers, advisers, union bosses and donors.

One Labour peer close to the Prime Minister told the paper that Starmer would not "walk away" from No. 10 creating a vacuum, but would instead "arrange a deliberate slow march in good order, as a matter of duty and dignity." Another Labour grandee said the Prime Minister now appeared "resigned" to stepping down after coming "hard against the reality that the support isn't there."

The establishment knives are out. Lord Falconer - Starmer's own former shadow attorney general - told the BBC that the Prime Minister had "absolutely no authority left because everybody assumes Andy Burnham is about to challenge for the leadership and everybody assumes he's going to win."

Former Health Secretary Wes Streeting, who remains the obvious alternative pole of opposition inside the party, publicly hailed Burnham's result even as allies insisted he still intends to stand in any contest.

Huge congratulations to @AndyBurnhamGM on an astonishing victory in Makerfield, where Labour lost badly only weeks ago.

It gives us all hope that Labour can still win, but Andy's campaign is proof that to do so we need to change.

Enormous thanks to everyone involved.

— Wes Streeting (@wesstreeting) June 19, 2026

Even the money is moving. Unite general secretary Sharon Graham said "obviously Starmer needs to go," calling for an orderly transition on a clear timetable and a conversation about Labour's policy priorities.

Streeting's allies, meanwhile, are still talking as though the fight is alive. The Observer reported he has taken out a contract on an office for 40 members of staff as campaign headquarters and has received two £50,000 donations from Fran Perrin, one of Labour's most generous supporters. But some senior Labour figures now believe Streeting may ultimately do a deal with Burnham rather than stand in the way of the momentum.

"A Final Chance To Change"

Burnham's victory speech left no doubt about the scale of his ambition, even if he stopped short of formally launching the challenge. "Tonight could - just could - be the turning point," he told supporters, warning Labour it had a "final chance to change" with "no second chance."

There was also some weirdness: animal-rights campaigner Robert Pownall, who ran as an independent, and Count Binface, the bin-headed "intergalactic space warrior," who took 95 votes.

"I swear I'll move to Makerfield if I win."

Count Binface talks to Sky's @joncraig at the vote count at the Makerfield by-election. https://t.co/cjPB04D pic.twitter.com/skyclip

— Sky News (@SkyNews) June 19, 2026 Mandlelson & Epstein

Burnham's win was the trigger, but the charge had been laid months earlier. The slow detonation of Starmer's authority traces back to his decision, in December 2024, to hand the plum Washington ambassadorship to Peter Mandelson despite Mandelson's long-public friendship with the late convicted sex offender Jeffrey Epstein.

Mandelson was sacked as ambassador in September 2025 after released material appeared to show a closer relationship with Epstein than had been acknowledged at the time of appointment. He was later arrested on suspicion of misconduct in public office over allegations that sensitive government information had been passed to Epstein during the 2008-2010 financial crisis. Mandelson has denied wrongdoing, has not been charged, and the police investigation is ongoing.

'Where does this leave the tattered reputation of our Prime Minister?'

@MartinDaubney discusses the first tranche of the Mandelson files revealing that Sir Keir Starmer was warned that the former ambassador, Lord Mandelson, brought a 'reputational risk'. pic.twitter.com/84vWC3jmhe

— GB News (@GBNEWS) March 11, 2026

Starmer claimed Mandelson had lied throughout the appointment process - however it later emerged that he knew full well of the friendship.

🚨 Wow.

The Mandelson files are up.

They prove Starmer WAS advised and warned about Mandelson's appalling friendship with Epstein.

Starmer appointed him anyway.

Starmer lied.

Starmer must resign. pic.twitter.com/1yjYioVJhK

— Zia Yusuf (@ZiaYusufUK) March 11, 2026

By then the damage was structural: his chief of staff Morgan McSweeney had resigned over the affair, a top Foreign Office mandarin was on the way out, and the government had spent months bleeding credibility through document dumps, a vetting row, sleaze-inquiry pressure and a steady drip of resignations.

No. 10 is still batting the resignation talk away as "speculation," and Starmer's team insists he will fight any challenge. On Friday, the Prime Minister told staff the party had to "pull together" and "take the fight" to Reform.

But the shape of the problem is brutal: Burnham has the seat, his allies claim the numbers, cabinet ministers are turning, the unions are turning, and Reform UK remains the threat Labour MPs increasingly believe only Burnham can blunt.

If Starmer steps to a podium on Monday and sets out an exit timetable, it will cap an extraordinary fall - from landslide to forced retreat in under two years - and crack open the door for the man they call the "King of the North" to walk through it.

Maybe if Starmer had addressed unchecked migration, England's woke police, or the rape gangs his CoS tried to get us demonetized for reporting on... 

💥NEW: How PM Keir Starmer's Machine Quietly Moved to Cripple Breitbart, The Federalist, ZeroHedge, and Left Independent Outlets

On Breaking Points, Ryan introduces Drop Site's latest investigation, adapted from Paul Holden's book, exposing how Keir Starmer and his chief of… pic.twitter.com/NVPDm7aWmw

— Drop Site (@DropSiteNews) December 4, 2025

 

Tyler Durden Sun, 06/21/2026 - 16:35
Tyler Durden

Wisconsin Supreme Court Strikes Down Race-Based Scholarships As Unconstitutional

Zero Rss
3 months 1 week ago
Wisconsin Supreme Court Strikes Down Race-Based Scholarships As Unconstitutional

Authored by Jonathan Turley,

The Wisconsin Supreme Court struck down a state-funded scholarship program that awarded financial aid based on the race of college students. The Democrat-controlled court followed the precedent laid out by the United States Supreme Court in finding that Gov. Tony Evers and the state were violating the Equal Protection Clause of the United States Constitution.

Two of the most liberal justices, however, wrote a concurrence denouncing the bar on the use of race for such scholarships.

If Democrats are able to pack the Supreme Court as demanded by many party leaders, this concurrence is an example of the likely changes that a packed court will bring in reversing anti-discrimination and other rulings.

The Wisconsin Institute for Law and Liberty represented the taxpayers in this successful challenge of the Wisconsin Minority Undergraduate Retention Grant Program.

That program administered taxpayer-funded grants of up to $2,500 per academic year to eligible students of Black American, American Indian, Hispanic, or certain Southeast Asian backgrounds.

The state paid out roughly half a million dollars in scholarships, now found to be racially discriminatory.

Citing the 2023 U.S. Supreme Court decision Students for Fair Admissions v. Harvard, the Court reaffirmed that “The Constitution requires that every person ‘must be treated based on his or her experiences as an individual — not on the basis of race.’”

While many have heralded the new bright line against racial discrimination in higher education, two of the most liberal justices, Chief Justice Jill Karofsky and Susan Crawford, lamented the loss of racially discriminatory programs.

In her concurrence, Chief Justice Karofsky captured the sweeping, open-ended rationales used for such programs:

“Why have we not learned from our past? Why are we not willing to recognize the harms this country has caused to those who are marginalized, disempowered, or disenfranchised? Why, instead of wielding the Equal Protection Clause as a sword against racism, do we employ it to shield against the promise of equality for all? The answer appears to be because we have failed to fully recognize how societal and governmental practices have long continued to enforce a preference for White Americans and to burden Black Americans and those of other disadvantaged races or backgrounds.”

These justices would continue race-based programs indefinitely under the claim that there is a “preference for White Americans” in programs that focus purely on academic achievement or specific non-racial criteria.

The two justices quote from the dissent of Justice Ketanji Brown Jackson that requiring race-neutral rules is just more “let-them-eat-cake obliviousness” by a white privileged society.

She added, “I fully recognize and acknowledge that I am bound by the precedent set forth in SFFA and other cases decided by the U.S. Supreme Court…However, I also choose to write separately. I do so because I find it impossible to ignore the truths that Justice Jackson identifies.”

Notably, those “truths” from the Jackson dissent have been challenged as containing glaring false claims.

I have previously discussed my disagreements with Jackson and her jurisprudence, including her dissent in the SFFA case. However, this concurrence vividly shows the jurists whom the Democrats could call upon to pack the Supreme Court to reverse decisions like the one in SFFA.

With various Democratic leaders now openly pledging to pack the Court to reverse such decisions, the 2028 election is becoming a referendum on the future of an institution that has proven key to maintaining this Republic for 250 years.

Democratic politicians and pundits have made clear that they need the immediate control of the Supreme Court to carry out an agenda that would be struck down as unconstitutional. That includes reversing core constitutional rulings. The Karofsky concurrence offers a glimpse into our future if we allow the Court to be the object of a political hostile takeover.

Tyler Durden Sun, 06/21/2026 - 16:20
Tyler Durden

Feminists Are Increasingly Joining "Witchcraft Communes" To Fill The Spiritual Void

Zero Rss
3 months 1 week ago
Feminists Are Increasingly Joining "Witchcraft Communes" To Fill The Spiritual Void

In the past 70 years, the subject of the Salem Witch Trials has been hijacked by the political left as a historic example of the authoritarian nature of the "patriarchy".  Arthur Miller used the trials as an allegory for "anti-communist hysteria" in his famous 1953 play, The Crucible.  As we now know, however, Joseph McCarthy was mostly right when he warned about an insidious and organized Marxist takeover of America's social and educational institutions. 

A more nuanced historic analysis shows that witchcraft was indeed a problem in the colonies just as it was a problem in Europe.  Not so much because of "black magic" or dark curses, but because "witches" were often early representations of social malcontents causing problems in Christian communities just as they cause problems in the western world today.

There were false accusations, there's no doubt.  But the narrative that most or all witch burnings were unjustified is simply false.

The reason women (and some men) were accused of being witches and burned at the stake was because they willfully engaged in highly destructive anti-social behaviors.  The local witch was often the village abortionist, a seller of poisons, and the town prostitute or harlot plying her "trade" at a time when there was zero tolerance for this kind of behavior.

It should be noted that the practice of casting out or executing sociopaths, psychopaths and other people with destructive social tendencies (considered black magic) is common among religious groups around the world, not just in Puritan towns and Christian society.  This includes Native American tribes that feminists tend to idolize.  

When human beings lived in small villages, broken and dangerous people were much easier to identify and remove before they did significant damage.  In the new era of metropolitan isolation within mass population centers, they easily blend into the crowd.  Sometimes they are even celebrated as "visionaries" by Hollywood and the media.       

Modern feminists proudly draw connections to the subversive world of witches because they tend toward delusional fantasies of dominance.  Women, by their biological nature, lack any real ability to project power, so they fabricate notions of magical influence in their minds.  Some of the most popular women's trends today revolve around concepts of New Age "manifestation", which is just a modern way of believing in magic.

It's not surprising that feminists in the US in 2026 are flocking to "witchcraft communes", an idea recently applauded in a expose by The Guardian.  The outlet notes:

"Witchcraft retreats...have proliferated across the US and Europe over the last decade. The practice they’re built around resists easy definition. Equal parts ancient folk magic, herbal remedies and self-soothing rituals, it encompasses everything from the spellcasting done by self-directed pagans to solitary practitioners who scatter protective salts around their homes. If you buy a crystal, that’s witchcraft. If you practice manifestation, that’s witchcraft..."

"The retreat boom was foreshadowed by an interest in witchcraft that has grown since the counterculture movement in the 1960s, says Helen Berger, a Harvard Divinity School-based sociologist of religion and one of the leading scholars of contemporary paganism. While it’s hard to really identify a single catalyst driving women to witchcraft, Berger sees a pattern: spikes in alternative spirituality tend to coincide with spikes in anti-authoritarianism. In 1968, for example, several feminist groups co-opted occult imagery, adopted the acronym Witch..."

The reason witchcraft appeals so much to women on the political left is because leftist movements operate on the same value system - Meaning, they have no values.  The problem is, Atheism leaves an emotional and spiritual void, leaving people desperate for answers to questions that scientific explanation does not satisfy.  The occult promises people answers, but without all those nasty rules and responsibilities commonly attached to Christianity.

    

In other words, witchcraft is a religion for people who think they are above moral obligation.  People who think they can revolt against the natural order.  In this way, witchcraft and feminism are fundamentally the same thing.  The Guardian continues:

"Clauré hosts at least two witchcraft retreats a year, in Savannah, Georgia and Salem, Massachusetts; prices run anywhere from $2,700 to $5,200 to attend. She says women are searching for something beyond the slumber party Ouija board rituals that loosely inspired her retreats in the first place.  “The patriarchy is not good for anybody, men or women,” Clauré says. “Women have been inherently drawn to [witchcraft spaces] after being demonized or called hysterical or stigmatized. We’re so fucking sick of it that we’re gonna do things our way, whether you call it crazy or not.”..."  

"“If you look at the larger social gestalt right now, in which power is being systematically taken away from women and queer people, the traditional witch is the opposite of ‘right’ society,” says Sabina Magliocco, a professor of anthropology and religion at the University of British Columbia and a former Guggenheim fellow. “But if ‘right’ society is depriving women of rights, is excluding women, is saying that it is perfectly fine to sexually abuse women, that there aren’t going to be any consequences, then maybe being the opposite of right society is aligning with the forces of justice.”"

It's impossible to distinguish between the political rhetoric of modern witchcraft and feminists; they are symbiotic.  Fantasies of victimhood usually coincide with societal expectations.  Liberal women see basic laws, social norms and meritocracy as "oppressive".  But really, they are narcissists who refuse to accept that the entire world does not revolve around them and their wishes.  This is who witchcraft appeals to. 

The wider implications are serious, and not because these women have any real magical powers.  Rather, feminism and similar movements are a psychological plague that spreads, rotting nations from within.  If they face backlash it's not because they are female or queer, it's because they deliberately engineer disruption and encourage degeneracy that breaks society down.  They revel in chaos. 

The witches of old were burned at the stake for such behavior; behaviors which the "Patriarchy" kept in check before they infested the greater community.  Feminists are lucky that they're only mocked or shunned in modern times.         

Tyler Durden Sun, 06/21/2026 - 15:45
Tyler Durden

With Just 2 Weeks To Go Until 250th July 4th Celebration, How Much Higher Will Trump Pump Stocks

Zero Rss
3 months 1 week ago
With Just 2 Weeks To Go Until 250th July 4th Celebration, How Much Higher Will Trump Pump Stocks

By Peter Tchir of Academy Securities

Getting Ready for the Most Beautiful HUGE Long Weekend Ever

I hope you are all enjoying the Juneteenth long weekend and Father’s Day. It seems like we just had a long weekend (because we did) and that another long weekend is almost upon us (because it is). While the 4th of July is always special, this being the 250th celebration of Independence is a big deal. I think the President will do everything in his power to make it a big deal. More on that in a moment.

The Deal, or Extended Ceasefire, or MOU

Academy’s Geopolitical Intelligence Group weighed in on the Iran deal on Thursday in the Signing of the MOU. That followed up on the Academy Podcast (which can also be found on iTunes and Spotify), recorded before details of the MOU were known, but covered much of what happened. A good listen if you are driving anywhere today! I’m sure the kids in the back seat would appreciate it.         

Over the weekend, the fragility of the deal is there for everyone to see! If this seems even more like a band-aid solution to get oil flowing while deciding how serious Iran is to committing to terms we want, while we determine if we are willing to re-escalate, then that is probably what it is! Academy will be keeping a close eye on developments. 

The Fed and Rates 

As discussed in our post-FOMC report The Warsh Task Forces, I think he did an excellent job at his first meeting. Rather than coming across as dovish and risking losing control of the long end of the yield curve, he not only hammered home on inflation (squarely placing the blame on prior decisions by the Fed, amongst other things), but he also created task forces, that by and large made sense. If I could get picked to go on any task force, I would beg and plead to be allowed to be part of the Data Sources task force. As anyone who has read the T-Report for a long time (it has to be approaching 15 years) knows, we consistently argue about Garbage In, Garbage Out. That we make so many important decisions on data that seems jumbled together at best, and outright wrong at worst. My favorite targets are: 

  • The entire collection process for the NFP data. Surveys? Really? Can’t we offer some reduction on payroll tax in return for providing timely payroll information? It wouldn’t be perfect, but would create a lot less noise around a large percentage of the work force. 
    • The Household Survey is deemed so wildly inaccurate that they don’t even highlight the job changes in that survey, but they use it for calculating the Unemployment Rate?
    • The birth/death model. We have argued again and again that this is a source of so many revisions because it does not capture what EIN (Employment Identification Number) requests mean in a “gig” or “side hustle” economy! 
  • CPI, starting with Owners’ Equivalent Rent. It has built in lags that only sample a fraction each month. It is still based on single family homes, rather than apartments. It is an estimate of what a homeowner could get if they rented. With so many indices out there showing real-time rent (including one the Cleveland Fed developed) it is time to ditch this. Though, since it is in CPI, it requires an act of Congress to change, since it impacts Social Security. Seems like a no-brainer to me, but wouldn’t bet on this no-brainer being fixed any time soon.
    • According to the CPI data Urban Medical Health Insurance costs the same today as it did back in 2019. I couldn’t say that with a straight face, yet it is part of CPI. If you wonder why many argue that the inflation numbers don’t match the real world, this would be pretty high on my list. My gut feel is that for most people (and corporations) health insurance premiums have gone up at least 25% (according to Grok) and that still seems low.
    • While Truflation has its own set of potential flaws, it does offer some useful insights and seems like just one of many alternative sources the government should look at.

At the risk of burying the lede, as we published on Wednesday after the meeting, we are moving to neutral on rates, rather than being bearish. Warsh removed some near-term tail risk to the long end.

Reducing the tail risk is significant and the MOVE index (a measure of implied volatility in the bond market) dropped to pre-Iran levels (the MOU helped as well, but the steep drop Thursday can likely be more attributed to Warsh than Iran).

Space and AI

If you missed last weekend’s report on the AI Revolution and Space – The NOW Frontier, it is a great time to catch up.

The topic generated a lot of discussion, with a good mix of people hating on the AI Revolution assessment – almost equal numbers of those who argued I was too pessimistic mixed with those arguing I was too optimistic

The 250th 4th of July Celebration

Why did we use “beautiful” and “HUGE” in the title? Because those are words the President likes to use when pumping something up. Whether we are talking about the ball room, or the reflecting pool, the President has been doing and saying things to spruce up D.C. We can argue (or choose not to argue) about hosting a “sporting” event on the White House Lawn. But this President is a showman, who likes a spectacle and the 250th anniversary is real, important, and is highly likely something that the President wants to go down in history for.

The reality is that the President by almost every poll is near or at the bottom of his approval ratings. I tried to use some of the Nate Silver polling info, but it was not conducive to cut and paste so I went with the Real Clear Politics one (not because I know much about it, but it was readily available on Bloomberg).

What do we know, with a high degree of certainty, about President Trump?

  • He likes winning! We all like winning, but he revels in it! He still wins club championship after club championship with a swing no one would try to mimic. He loves winning! The bigger and more beautiful the win, the better!
    • Current polls don’t show him as “winning.”
  • His attention and focus have been on Iran, but he can now shift his attention elsewhere.
    • Trump 2.0 delegates better than Trump 1.0, but nothing gets done as quickly as when he shifts his attention and focus to it. With the Iran war more or less behind us (or behind him, for now), look for him to focus on the Domestic Economy and things he can do to get his numbers higher!
    • I am going to mention Intel. From ProSec 2026 we published an entire paragraph on INTC (which is unusual for the T-Report, but was important enough that we did it). Here is the line that I want to highlight on why we were so bullish on this stock:
      • I find it difficult to see a world where the government doesn’t try to support the taxpayers’ investment in this company.
    • My thesis went well beyond that, but that is the part that we wanted to highlight! I strongly believed that the admin would support the taxpayers’ investment. On Thursday, the President put out a Truth Social post linking Apple to using Intel more. I am not sure either company confirmed it, but with only 2 weeks to go before the 250th anniversary, maybe this sort of “pump” by the President is going to be the norm?
    • We mention other companies and industries in that report (far more tickers than usual). I think we should revisit all of those tickers and a renewed focus and emphasis from D.C. on ProSec.

ProSec is going global. Europe is nearing a “Whatever it Takes” moment. Initially they started that march to the precipice kicking and screaming, while being pushed by the President and geopolitical risk. Europe is still by and large being pushed in this direction, with less kicking and screaming. There is increasing evidence that there are finally elements of leadership pulling them in that direction! (This applies to Canada too).

Bottom Line

The outlook for rates is more benign than at any time in the past few months. I’m not yet bullish, but certainly not bearish here. Look for the President to make announcements and pronouncements (I think there is a subtle difference) in the coming days as he almost certainly wants stocks to be at an all-time high and his ratings to be higher, as we celebrate America’s 250th anniversary of winning Independence!

Hope you are enjoying this long weekend and Father’s Day and now the U.S. just needs to figure out a way to wedge in a long weekend in August! We could get used to monthly long weekends.

And once again, thanks for all of your support and thoughtful feedback as the world is evolving rapidly and Academy, with its Geopolitical Intelligence Group, is positioned to help navigate that evolution sectors and focus again on what areas will do well with

Tyler Durden Sun, 06/21/2026 - 15:10
Tyler Durden

Financial Times Hypes SpaceX's Dismal ESG Rating By MSCI, But Really Nobody Cares

Zero Rss
3 months 1 week ago
Financial Times Hypes SpaceX's Dismal ESG Rating By MSCI, But Really Nobody Cares

The Financial Times appears eager to frame MSCI's decision to assign SpaceX the "lowest possible ESG rating" as a major reputational blow. However, the real story is that the entire ESG movement on Wall Street has imploded, and anyone grounded in reality and common sense has increasingly viewed the whole woke era as counterproductive.

"The triple C assessment means SpaceX has the same score as that awarded to the Russian state on MSCI's ESG government rating scale in the wake of its 2022 invasion of Ukraine," FT journalist Ramsay Hodgson wrote. 

This same ESG ratings regime gives triple-A ratings to oil majors and major defense companies, while giving one of America's most important rocket and space companies a bottom-tier grade. That only suggests there are major flaws in the ESG scoring model.

Here are the publicly visible MSCI ESG ratings: 

Oil/Gas

Defense

"Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn't make the list!" Musk wrote on X several years ago. 

Musk is right... 

  • Companies With Good ESG Scores Pollute Just As Much As Those With Low Ones, New Analysis Finds

Here's what X users are saying:

Just checked. MSCI has handed Lockheed Martin the exemplary AA rating. They want you to believe the arms manufacturer has a more ethical and sustainable business model than a space exploration venture. Twisted.

— Ejder Memis (@_sHx_) June 21, 2026

None gives a flying fuck about ESG except people who want the west to fail.

— Packet (@PacketGroove) June 21, 2026

Elon Musk will never again be in the cool kids club and this is just another example of that. ESG is just another clique with its set of rules designed to welcome those firms that shackle themselves with silly rules.

It is great that Musk and Luckey as well, refuse to bend…

— Ken Hannig (@FlushingKenny) June 21, 2026

Its Time to permanently excise the term ESG from polite conversation, and ridicule those who use it.

— JayBlake (@punishedMTL) June 21, 2026

Right back at you MSCI pic.twitter.com/8tDnWjcmXt

— boog (@steevwithv) June 21, 2026

Proves to me that ESG is a f-ing joke.

— Matt (@grghost) June 21, 2026

Musk added, "ESG is a scam. It has been weaponized by phone social justice warriors."

Tyler Durden Sun, 06/21/2026 - 14:35
Tyler Durden

Trump Is Furious With Senate GOP, Puts Thune In His Crosshairs

Zero Rss
3 months 1 week ago
Trump Is Furious With Senate GOP, Puts Thune In His Crosshairs

Donald Trump does not like the word "no." He likes it even less when it comes from John Thune, the Senate majority leader whose job description apparently does not include telling the president what he wants to hear. That dynamic has now spilled into public view, and the fallout says as much about the state of the Republican Party as it does about any single piece of legislation.

The flashpoint is the SAVE America Act. The House passed it back in February, but it remains stalled in the Senate due to the Democrats’ filibuster.

The SAVE America Act would require proof of citizenship to register to vote, mandate voter ID at polling places, and sharply curtail mail-in voting. For Trump and a sizable chunk of the conservative base, this is common-sense election integrity; polls show tremendous bipartisan support for it.

Trump has grown tired of waiting. Last week, he tied the SAVE America Act to FISA Section 702 reauthorization, the surveillance authority that lets intelligence agencies monitor foreign nationals without a warrant. Congress let that authority lapse for the first time since 2008, and Trump made clear he intends to use it as leverage. "I will not approve FISA without THE SAVE AMERICA ACT going along with it," he posted on Truth Social. That is not a man asking nicely.

Thune was unmoved.

"The president has his own mind, makes his own decisions," he said. "So do we."

Read that as you like, but it does not sound like a man rushing to fall in line.

According to a person close to Trump who spoke with The Wall Street Journal, the president's frustration stems from being told “no” rather than "no, let me try." 

A Thune ally pushed back on the Journal's reporting, arguing the majority leader is not the real obstacle here. Trump simply does not have the votes. That is a fair point, and it gets at something deeper than personal chemistry: the SAVE America Act faces a math problem before it faces a Thune problem.

Sen. John Cornyn (R-Texas) told the Journal that Thune is "telling the president the truth" and that "the problem is the president doesn't like hearing that when it frustrates what he wants to do." Sen. Cynthia Lummis (R-Wyo.) offered a gentler diagnosis, describing the clash as one of temperament rather than substance. Trump's "skill set is to vocalize everything," she said, while Thune's is "more quietly engaging." She added, "I don't think they're mutually exclusive." Sen. John Kennedy (R-La.) never one to pass up a colorful comparison, likened Trump to the ruthless sales trainer from Glengarry Glen Ross during a closed-door GOP lunch, according to Punchbowl News. On the Senate math itself, Kennedy was characteristically blunt with the Journal: "I mean, I want a Porsche for my birthday. I'm not going to get it."

Trump has not limited himself to public jabs, either. He summoned House Speaker Mike Johnson to the White House to discuss personnel disputes and the lapsed FISA law, conspicuously leaving Thune out of the conversation. He has also been quietly polling Republican senators on their views of Thune's leadership, a clear signal that his patience with the majority leader is running thin.

Sources also told The Daily Caller that Thune privately admitted to GOP senators during a closed-door lunch on Wednesday that some Republicans simply will not back the SAVE Act because they cannot stand Trump, regardless of the bill's merits.

The admission reportedly set off a heated exchange between Sen. Mike Lee (R-Utah), the bill's chief sponsor, and colleagues, including Cornyn, who challenged Lee's push alongside Thune.

"Yeah, that totally happened," one source familiar with the meeting told The Daily Caller. Thune's office denied the account outright, calling it "a baseless claim" that is "unequivocally untrue."

A president quietly canvassing his own party and questioning the Senate majority leader’s leadership is a power struggle over who actually runs the Republican agenda. Trump clearly sees Thune as a roadblock he's preparing to remove.

 

Tyler Durden Sun, 06/21/2026 - 13:25
Tyler Durden

California Declares State Of Emergency Over Los Angeles Warehouse Fire, Smoke

Zero Rss
3 months 1 week ago
California Declares State Of Emergency Over Los Angeles Warehouse Fire, Smoke

Authored by Melanie Sun via The Epoch Times,

California Gov. Gavin Newsom declared a state of emergency on Saturday after the Los Angeles mayor asked for state disaster support in the wake of an ongoing warehouse fire that continues to burn more than three days after it started on June 17.

“California is mobilizing to support Los Angeles as firefighters and emergency personnel continue their work to contain this fire and protect surrounding communities,” Newsom said in a statement.

The state has predeployed public health and emergency resources to the city, including 5.5 million N95 masks and commercial-grade air purifiers for community facilities.

“We are coordinating closely with our local partners, deploying specialized expertise, and pre-positioning critical supplies so communities have the support they need both now and throughout recovery,” Newsom said.

Caroline Thomas Jacobs, director of the California Governor’s Office of Emergency Services (Cal OES), said in a statement that her agency is “working side-by-side with the City of Los Angeles, Los Angeles Emergency Management Department, Los Angeles Fire Department, and our regional partners to ensure they have the resources, information, and support necessary to respond to this incident.”

“The State of Emergency allows us to further streamline coordination efforts and leverage additional state capabilities as needed,” she added. “Our focus remains on protecting communities and supporting locally led response operations.”

The state is also assisting with “enhanced air quality monitoring and technical support resources,” Newsom’s office said.

Smoke is still emanating from the fire at the warehouse, which first responders are struggling to completely extinguish due to a lack of visibility inside the massive cold-storage facility in Boyle Heights—located just five miles southeast of downtown LA.

According to an update earlier Saturday from Los Angeles Fire Department Chief Jaime Moore, the risk from hazardous materials at the warehouse has been contained.

The damaged facility connects food products to approximately 10 million people, said Lineage Logistics, the private owner of the supply chain hub.

Local news stations showed smoke billowing from the burning roof of the 491,000-square-foot warehouse, where it is believed to have started around 2:30 p.m. on June 17. The roof of the facility is covered in solar panels.

The roof fire was extinguished within six hours, but firefighters are still struggling to gain entry to parts of the interior due to a buildup of thick smoke.

“We have 85 million pounds of frozen food inside of this facility and the way the building has been laid out, it’s very difficult for us to get in there because there’s zero visibility inside,” Moore said

“Our firefighters are not able to just go in there and start moving pallets.”

Earlier Saturday, Los Angeles Mayor Karen Bass said the city needed state assistance to safely dispose of the millions of pounds of spoiling biowaste in a way that will avert a major environmental disaster.

Lineage said Saturday that the cause of the fire has still “not been determined.”

“We are working closely with local officials to assist in all investigations and remediations of the fire and will continue to do so as we cleanup once the site is safe for entry,” its statement read.

No workers at the warehouse were injured during the fire.

A firefighter walks down the street as a massive warehouse fire at a cold storage facility continues to burn and spread smoke around Los Angeles city on June 20, 2026. Mario Tama/Getty Images

A Complex Incident

The Los Angeles Fire Department said in its latest update at 8 p.m. Saturday that water dumps from the air have concluded for the night, and that ground crews will remain remain actively engaged in suppressing the fire with the assistance of the department’s structural firefighting robot.

The department said that due to the large volumes of water dropped on the warehouse, firefighters have observed “areas of wall instability” at the warehouse, and the fire continues to produce significant smoke.

“This remains a complex, long-duration incident that will require sustained operations,” it concluded.

Earlier in the day on Saturday, the department said that over the last three days, with the changing wind, the smell of smoke from the fire had spread to most of the city. Residents, particularly individuals with sensitivity to smoke, have been encouraged to limit their exposure.

Shelter-in-place notices were issued on Wednesday for neighborhoods immediately surrounding the fire due to the hazardous burn and heavy black smoke. That was lifted later in the evening after the initial roof fire containment, only to be reinstated on Thursday after the fire flared up with a change in wind direction.

It was lifted again on Friday morning, although a smoke advisory remains in place for particle pollution from the drifting plume.

“As firefighting efforts progress, smoke may continue to affect air quality throughout the region,” the South Coast Air Quality Management District (AQMD) said in a Saturday midday update. “PM2.5 levels may increase overnight as winds die down. On Sunday morning, a change in wind direction may push smoke towards Southeast LA County. If the fire is still producing a significant amount of smoke on Sunday afternoon, it will continue to impact Central and East Los Angeles.”

Tyler Durden Sun, 06/21/2026 - 12:50
Tyler Durden

Feeling Emboldened After Attacks On Moscow, Zelensky Threatens Belarus With Military Action

Zero Rss
3 months 1 week ago
Feeling Emboldened After Attacks On Moscow, Zelensky Threatens Belarus With Military Action

Ukraine is feeling more confident of late as its long-range drones have made the Moscow area - as well as dozens of oil refineries across the country burn.

Zelensky if seeking to flex yet again in recent days by issuing an ultimatum to Belarusian President Alexander Lukashenko, threatening that close Russian ally and 'Union State' Belarus could face attacks out of Ukraine if it fails to dismantle the air defense radar array along its southern border.

The Ukrainian leader even issued a timeline and deadline, in a social media post on Friday night telling Lukashenko to "remove that equipment."

Reuters/Sky News

"I think a week is enough for him to do that… If he doesn’t do it, we will," Zelensky threatened. Zelensky added that "Russia will keep pushing him further into this war" - but that Lukashenko now "understands that Ukraine will respond."

Belarus has been involved in Russia's 'special military operation' from the beginning, having played the role of staging area and logistical hub for the initial invasion and some subsequent attacks.

Importantly it is also hosting Russian tactical nukes, which is clearly a loud warning and threat to NATO.

Addressing these factors, Zelensky also alleged that the Belarusian army "adjusts fire on our people." He stressed in the statement that "today, Belarus is one of the key suppliers for the Russian army."

A major incident just unfolded due to a Ukrainian drone strike on Belarusian civilians, which Lukashenko dubbed an act of terrorism:

The Belarusian Foreign Ministry said Thursday that it summoned a senior Ukrainian diplomat to protest a deadly drone strike on a bus carrying a Belarusian youth soccer team.

Belarusian and Russian authorities accused Ukraine’s military of targeting the vehicle as it traveled through Russia’s western border region of Bryansk on Wednesday. A woman accompanying the team was killed, and six others, including four teenagers, were wounded.

Following the incident, federal investigators in Russia launched a terrorism probe. Russia’s Foreign Ministry denounced the attack as “another monstrous crime.”

Ukraine, for its part, has rejected that its forces were behind the attack, dismissing the whole incident as a "provocation" and suggesting a false flag or manufactured event.

Attack on Belarusian bus. MAX/Moscow Times

Days ago Lukashenko demanded answers for the bus attack, accusing Ukraine of seeking to drag his nation into the conflict and that it "will have to pay dearly for that."

Throughout the war there's actually been surprisingly little in the way of direct Ukraine-Belarus fighting and confrontation, but this could change. Officials fear this would catapult the over four-year long conflict into a bigger regional war.

Tyler Durden Sun, 06/21/2026 - 12:15
Tyler Durden

Billionaire Tax Officially Heads To Nov. 3 Ballot

Zero Rss
3 months 1 week ago
Billionaire Tax Officially Heads To Nov. 3 Ballot

Authored by Madeline Shannon via The Center Square,

The controversial union-backed billionaire tax in California is officially heading to the Nov. 3 ballot.

Secretary of State Shirley Weber announced the California Billionaire Tax Act exceeded the number of signatures it needed to qualify for the general election.

The initiative aims to impose a one-time 5% wealth tax on the Golden State’s billionaires to generate $100 billion in revenue. The tax would apply to assets like art, stocks and bonds. That money would be used to help backfill reductions in federal funding to K-12 schools, health services provided by Medi-Cal and aid from the Supplemental Nutrition Assistance Program, known as CalFresh in California, according to previous reporting by The Center Square.

Representatives from the advocacy group Billionaire Tax Now and the union backing the tax, Service Employees International Union – United Healthcare Workers West, did not respond to The Center Square before publication time.

However, lawmakers on both sides of the aisle spoke to The Center Square on Thursday about the tax measure advancing to the midterm election ballot in November.

“If you want a budget deficit in perpetuity, pass this,” Sen. Tony Strickland, R-Huntington Beach, told The Center Square. “What happens is, these folks are now going to Florida and everywhere else, and not only are they leaving, but they are the ones investing in a lot of these jobs. Those jobs now are fleeing California, and we’re going to lose them, dramatically, going forward.”

The Golden State’s billionaires will take their billions and create jobs in other parts of the country – not in California, Strickland added.

“The minute this passed, we would be in a budget deficit in perpetuity,” Strickland said. “If you care about funding education, if you care about funding health care, if you care about funding transportation infrastructure, you’ll vote no on this initiative, because we won’t be able to fund essential services in California.”

California’s ongoing budget deficit, which the Legislative Analyst’s Office recently projected would amount to $16.9 billion, is largely due to expenditures exceeding revenues under Gov. Gavin Newsom’s most recent budget proposal. That was in spite of the fact that Newsom attempted to solve the state’s budget deficit through 2028, according to previous reporting by The Center Square.

While some, like Strickland, see the potential passage of the billionaire tax making the state’s budget woes worse, there is still support for the measure.

“I agree with the proposal overall,” Sen. Sasha Renée Pérez, D-Pasadena, told The Center Square. “I agree overall with the idea that billionaires and corporations need to pay their fair share. We’ve seen inequality grow in an alarming way, and frankly, I think most Californians are sick of it.”

No one was available from Billionaire Tax Now or Service Employees International Union – United Healthcare Workers West to answer questions about the ballot measure’s progress. When asked if anyone was available to answer questions, a representative from Billionaire Tax Now sent a press release via email.

According to previous reporting by The Center Square, even the potential passage of the tax has sent some billionaires packing who previously called California home. Earlier this year, Facebook CEO Mark Zuckerberg bought a mansion in Florida. Other billionaires also relocated to other states, including Google co-founders Larry Page and Sergey Brin, Palantir Technologies and PayPal co-founder Peter Thiel and venture capitalist David Sacks.

A February 2026 report from the National Taxpayers Union Foundation found that the mere proposal of the wealth tax could be costing the state $1 trillion in revenue with the departure of multiple billionaires already. One economist predicted that passage of the tax could eventually cost the state $25 billion in revenue, The Center Square previously reported.

However, a healthcare worker who advocate for the measure previously told The Center Square that if billionaires leave the state, they are only showing their own greed.

“We need to put humanity first over greed,” Debru Carthan, a radiologic technologist for Kaiser, told The Center Square in March. “This is about being our brothers’ keeper. Those who leave California – they are showing their greed. They’re showing their selfishness. And the very patients who will die are the ones who helped them make the billions that they have now.”

According to Business Insider, there are more than 200 billionaires who live in California.

Tyler Durden Sun, 06/21/2026 - 11:40
Tyler Durden

Betting Against Ourselves: The Casino-ization Of America

Zero Rss
3 months 1 week ago
Betting Against Ourselves: The Casino-ization Of America

Submitted by QTR's Fringe Finance

Last month I wrote about something that had been building in my mind for years: the realization that active trading was doing more harm than good in my life.

I wrote about how I had finally put systems in place to turn my trading and account management over to trusted parties who are far better and more disciplined at it than I am. I had to separate the fact that I feel great about often being an accurate prognosticator on my blog about market trends, but that executing the corresponding trades was simply something I wasn’t good at.

Now, thirty days since my last trade, I couldn’t be happier that I made the decision. Admittedly, it hasn’t been incredibly easy, especially because I can’t remove all of my triggers and simply ignore the news, world and current events. I’ve been chugging coffee, reading headlines and trading every morning for the last 20 years. So I don’t expect it to be an easy habit to break.

But it’s getting easier, and I’m stepping away from reading every headline, every day, toward putting the phone down and living in the present moment once my work is done and my column is written each morning.

And I can’t imagine a better time to undertake this exercise. “The market” was once a symbol of integrity and serious business run by old f*cks in bowties and suits, like the Duke brothers.

Now it has become less a mechanism for allocating capital and more a 24-hour Las Vegas freak show carnival of increasingly exotic wagers. Our market has become the pro boxing equivalent of when Screech from Saved by the Bell fought Horshack on Celebrity Boxing.

Back in year like 1980, a company had stock. Simple enough. Today you can trade options on the stock, leveraged ETFs tracking the stock, tokenized versions of the stock at 2 a.m., and prediction-market contracts on whether or not Joe Kernen is wearing a toupee when he reports on the stock.

Wall Street and Las Vegas used to be different places. Those days are over. And new reporting from The Wall Street Journal confirms it. They reported this week that Charles Schwab is preparing to enter the prediction market business through a partnership with Cboe. According to the report, Schwab customers will soon be able to trade binary-style contracts tied to the performance of the S&P 500. The contracts function much like prediction market wagers: traders make a yes-or-no bet on whether an index finishes above or below a certain level and receive either a fixed payout or nothing at all.

In other words, one of the largest and most respected brokerages in America is moving further down the path of turning market outcomes into wager-like products.

To be clear, this is not simply a Schwab story, it is a sign of where the entire financial industry is heading. The distinction between investing and gambling is becoming harder and harder to identify.

Prediction markets have exploded over the last several years. Sports betting has become ubiquitous. Options volumes continue to reach extraordinary levels. Crypto exchanges offer leverage that would have seemed insane a decade ago. Every event, every opinion, every outcome increasingly becomes something that can be traded. Sometimes it’s tough to remember there’s actual company equity at the bottom of the pile of all this speculative shit somewhere.

Last month I wrote: “Every event is now a market. Every opinion is now a wager. Every moment of boredom can be monetized by putting money at risk on your phone.”

If anything, I understated the trend. The financial industry sees demand and it is responding exactly the way industries always do: by supplying more product. The problem is that the costs aren’t limited to individual traders. Most discussions about gambling focus on personal responsibility, addiction, and financial hardship. Those concerns are real. We already see rising stories of people using credit cards, personal loans, margin debt, and other borrowed money to fund speculative activity. The American consumer is tapped out, as I detailed a couple weeks ago.

Source: Zero Hedge

We’ve seen countless examples in crypto, options, sports betting, and meme stocks where people become trapped in cycles of chasing losses and doubling down on increasingly risky positions. But the risks do not stop at the individual level.

When enough leverage accumulates inside a system, personal mistakes become market problems. Speculation funded by borrowed money creates fragility. Fragility creates forced selling. Forced selling creates liquidity events. Liquidity events create contagion. The history of financial markets is filled with examples of this dynamic.

And as savings dwindles, margin debt as a percentage of GDP is consistently rising. In other words, we’re taking more risk. Gambling more. Investing less.

But leverage doesn’t look dangerous during a boom. It looks efficient. It looks sophisticated. It looks profitable.

Then something breaks, and when everyone is crowded into the same trades using borrowed money, small problems become trapdoors. And when market dynamics create multi-trillion dolllar trapdoors that are force fed into the indices, mutual funds and the average American’s retirement fund right before this happens, that’s when questions about systemic issues arise.

Crypto has already provided multiple examples of this on a relatively small scale. We have watched cascades of liquidations wipe out billions of dollars in value within hours. We have watched exchanges fail, lenders collapse, and leveraged traders evaporate seemingly overnight. This can, and will, happen in equity markets, prediction markets and option markets going forward.

And the world we are heading towards is one where prediction markets, binary options, leveraged crypto products, sports betting, and traditional brokerage accounts increasingly overlap and compete for the same attention.

I don’t think we fully appreciate the psychological consequences of where we are heading. Twenty-four-hour prediction markets are inherently unhealthy for many people. Human beings were not designed to live inside a perpetual casino. Anyone who has ever been to Vegas for more than 2 days understands this. You arrive healthy, in shape, sober, excited to see friends and maybe place a couple bets on the NFL game, and you leave destitute, broke, 10 pounds heavier, smelling like cigarette smoke and trying to figure out which stripper stole your credit card number (this is a purely hypothetical example, I swear).

These platforms don’t just compete for your money. They compete for your attention, your focus, your relationships, your sleep, your peace of mind, and your ability to be present. They monetize uncertainty itself. They thrive off of your loneliness and boredom.

The more events become tradable, the more incentive there is to constantly monitor outcomes. The result is a culture where people never disconnect. Every election becomes a market. Every earnings report becomes a wager. Every sporting event becomes an opportunity to speculate. Every idle moment becomes an invitation to check prices, odds, probabilities, and positions. The smartphone becomes both casino and brokerage account.

And the “markets” are not regulated at all and are susceptible to massive corruption. You thought a questionable pass interference penalty at the of a playoff NFL game was bad? How about when Coinbase’s imbecilic CEO ended a company conference call by spouting off random words to cash bets for god-knows-who in the prediction markets? He said live on the call: “I was a little distracted because I was tracking the prediction market about what Coinbase will say on their next earnings call. I just want to add here the words Bitcoin, Ethereum, blockchain, staking, and Web3 — to make sure we get those in before the end of the call.”

As I noted last month, I’ve seen people trading crypto between rounds at the gym. I’ve seen friends checking futures markets during dinner. I’ve seen twenty-somethings betting every pitch of a baseball game while sitting at a bar. And I’ve been all of those people myself.

🔥 50% OFF FOR LIFE: Using this coupon entitles you to 50% off an annual subscription to Fringe Finance for life: Get 50% off forever

When I step back and look at the bigger picture, I can’t help but wonder whether all of this is symptomatic of something much larger. A society doesn’t become stronger by turning every aspect of life into a wager.

A society becomes stronger by rewarding patience, discipline, craftsmanship, productivity, delayed gratification, and long-term thinking. Those are the traits that build companies, families, institutions, communities, and civilizations.

What worries me is that we’ve spent years moving in the opposite direction.

We have normalized endless money printing and financial engineering instead of productive growth. We have rewarded speculation over investment. We have encouraged debt over savings. We have elevated influencers over experts, virality over wisdom, and instant gratification over patience. We’ve built social media platforms designed to monetize outrage, political systems incapable of long-term planning, and financial products that increasingly resemble casino games.

And now we’re building twenty-four-hour prediction markets on top of all of it. It’s bad enough bullshit shows like Flavor of Love and The Golden Bachelor exist. It’s toxicity squared when we can bet on the outcome. At some point you have to ask whether we’re creating anything of lasting value or simply inventing new ways to distract ourselves.

The frightening part is that every one of these products is marketed as empowerment, democratization and opportunity…but many of them are really just mechanisms for harvesting attention.

And the commodity being extracted isn’t just money, it’s your time, focus, peace of mind and energy. To quote Morpheus from The Matrix, it is “…a computer generated dream world, built to keep us under control in order to change a human being into this.”

The irony is that the technology that promised to make us smarter often seems to be making us less capable of sitting still, thinking independently, or focusing on what actually matters.

That is precisely why I’m grateful for the decision I made last month to stop trading. It was about recognizing that the environment is becoming increasingly engineered to encourage constant participation. And I want no part of it.

As I said then, the older I get, the less interested I become in chasing every opportunity and the more interested I become in protecting my time, my health, my relationships, and my peace of mind. The irony is that the more speculation becomes available, the more valuable restraint becomes.

The easier it becomes to trade, gamble, wager, predict, hedge, leverage, and speculate on everything, the more important it becomes to simply step back. Because if the trajectory we’re on continues, speculation won’t be confined to casinos, crypto exchanges, or niche prediction market platforms. It’s going to be everywhere.

And that’s exactly why I’m thankful I already started walking away.

--

QTR’s Disclaimer: Please read my full legal disclaimer on my About page here. This post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author.

This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions.

As of May 20, 2026 I personally no longer actively trade (read my story here). My investing/saving is done by recurring contributions mostly to sector ETFs and a few select equities, trusted third parties who oversee my accounts, and advisors. Such advisors or funds, through individual equities, options, index funds, mutual funds, ETFs, or other securities, may have positions in, exposure to, or holdings of names mentioned herein that I know nothing about. Basically, via index funds, ETFs and individual equities it is possible I could own, have exposure to, or not own anything at any point. As of the same date, May 20, 2026, in an attempt to lead a healthier lifestyle, I’ve also excluded myself from fantasy sports, sports betting, online and in-person casinos and prediction markets.

And all positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier.

The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

 

 

Tyler Durden Sun, 06/21/2026 - 10:30
Tyler Durden

Kremlin Skeptical That US-Iran Peace Can Be Achieved: 'Rash'

Zero Rss
3 months 1 week ago
Kremlin Skeptical That US-Iran Peace Can Be Achieved: 'Rash'

If there's a 'good cop, bad cop' routine happening at the Kremlin, mostly assuredly the role of bad cop always falls to Russia's former president, Dmitry Medvedev. In his maximalist and hyperbolic threats, he can be seen as the "John Bolton of the Kremlin". 

With Trump's decision to wage war on Iran, Medvedev's negativity and skepticism has proven right more often than wrong. He is the latest Kremlin top official to weigh in on the bad position Washington once again finds itself embroiled in - and by it's own 'choice' - in the Middle East.

Medvedev, who has for the last several years been Russian Security Council Deputy Chairman, says an agreement between the US and Iran could easily be derailed by new provocations, and he took the opportunity to lash out at Israel, America's so-called indispensable ally.

via AP

He has said, within mere days of Iran and Washington signing their big Memorandum of Understanding (MoU) - which may or may not hold given ongoing fighting between Israel and Hezbollah - that expecting peace is "rash".

He has stated that Israeli Prime Minister Benjamin Netanyahu's government is "sustained by war" - which is a bit of rare high level moment of the Kremlin lashing out at Israel.

"An unstable agreement easily explodes with new strikes on Lebanon or other provocations. And that’s exactly what the Netanyahu cabinet, which is sustained by war, needs. So, expecting peace is rash," Medvedev stated Saturday on the Russian social media platform Max.

Al Jazeera has reviewed:

Russia has deepened its existing ties with Iran since the start of the Ukraine war, with Moscow and Tehran expanding military and economic cooperation – though the partnership has shown limits, with Russia offering largely rhetorical support during Iran’s recent conflict with the US and Israel.

Israel and Russia were largely at odds during the entirety of the Syrian proxy war, with Israeli aerial aggression in Syria having at times resulted in Russian losses. 

For example, in September 2018, there was this serious incident when Syrian anti-air missiles sought to fire on inbound Israeli jets. Instead, a Russian reconnaissance plane went down:

The leaders of Russia and Israel have sought to defuse tension after a Russian plane was shot down by Syrian forces amid an Israeli air raid.

In a call to Vladimir Putin, Israeli PM Benjamin Netanyahu expressed regret at the loss of 15 Russian personnel, but stressed again that Syria was to blame.

Mr Putin had earlier called the incident "a chain of tragic accidental circumstances". The Il-20 plane was downed over the Mediterranean Sea on Monday evening.

🗣️ 'This fragile agreement is easily blown apart by new strikes on Lebanon or other provocations. And that is precisely what Netanyahu's Cabinet, which clings to power through war, needs'

🇷🇺 Russian Security Council Deputy Chairman Dmitry Medvedev warns that Israel is… pic.twitter.com/6A6ChsBgQU

— Anadolu English (@anadoluagency) June 20, 2026

Russia had throughout the Syria war sought to carefully avoid a direct conflict with Israel, and after Assad's overthrow its forces have of necessity been in retreat from the Middle East.

Russia's military still has assets along Syria's coast, but the future of its presence remains very uncertain, having largely resorted to 'humanitarian' missions will seeking to open diplomacy with the new Sharaa government. 

Tyler Durden Sun, 06/21/2026 - 09:55
Tyler Durden

Swiss Government Discusses Revoking Protections, Benefits For Military-Aged Ukrainians

Zero Rss
3 months 1 week ago
Swiss Government Discusses Revoking Protections, Benefits For Military-Aged Ukrainians

During the opening years of the Russia-Ukraine war European states were quite welcoming to Ukrainian refugees and anyone fleeing the carnage and chaos, but now in the conflict's fifth year the general sentiment among EU populations and governments is changing.

Switzerland, once hailed as Europe's most neutral state - and among the most 'welcoming' countries for asylum seekers - is mulling a policy change which would exclude Ukrainian men of military age from protections granted to refugees.

The Swiss Federal Council announced in a statement Friday that it has begun consultations over the legal status of some 66,000 Ukrainian nationals who fled to Switzerland after the conflict erupted.

Image: Keystone-SDA

Welfare assistance and refugee protections are quite good in Switzerland, given individuals receive basic living items as well as government payouts, and can even freely travel in and out of the country.

For now, protections are expected to extend to Ukrainians in the country, but there's new talk of revoking this status for men of military age at a moment the Ukrainian military continues to face a severe manpower shortage:

The government announced on Friday that, at a national asylum conference in November 2025, the State Secretariat for Migration (SEM), the cantons, cities and municipalities had been tasked with drawing up clear regulations for the future of S protection status.

The results of this deliberation are now set out in a concept paper entitled “The Future of S Status”. According to the government, it serves to prepare for three possible scenarios: the continuation of S status; its abolition in the event of a stable ceasefire; and a phasing out of S status in the event of a protracted conflict.

Specifically pertaining to men of fighting age, the government is considering "a possible future restriction for Ukrainian men subject to conscription," a new statement reads.

"This is because the EU is currently considering an extension of temporary protection with a possible restriction for these men," the country's Federal Council has explained. A final decision could come by the end of the summer, but political pushback is said to be growing.

It should be remembered revocation of protected status is something the Zelensky government itself has long asked Western allies to do. It wants the rapid return of military-aged men, at a moment Ukrainian recruiters have resorted to harsh tactics cracking down on what are seen as draft dodgers.

EU Migration Commissioner Magnus Brunner has also confirmed "This is also what the Ukrainians are asking us to do" - commenting on the question of no longer extending protections to Ukrainian men in EU states.

For now, no major policy shifts are expected, but as the war goes on and on, the tone of the conversation has shifted among many European officials. Washington in particular has emphasized that Ukraine's populace must stand up for itself, and has even leaned heavily on Kiev to make the mandatory conscription age younger.

Tyler Durden Sun, 06/21/2026 - 09:45
Tyler Durden

Windward Says "Zero AIS Transits" On Hormuz Chokepoint

Zero Rss
3 months 1 week ago
Windward Says "Zero AIS Transits" On Hormuz Chokepoint

US-Iran technical talks are underway on Sunday, with Qatari mediators involved. Ahead of the talks, likely focused on Iran's nuclear program, Tehran attempted to reassert leverage over the Strait of Hormuz following renewed Israel-Hezbollah fighting in Lebanon.

Iran announced the closure of the strait on Saturday, framing the move as retaliation for alleged violations of the US-Iran interim peace deal. 

Early Sunday, maritime intelligence and risk analytics firm Windward wrote on X, "Hours after the IRGC's closure announcement, AIS traffic through the Strait of Hormuz suggested business as usual."

Hours after the IRGC's closure announcement, AIS traffic through the Strait of Hormuz suggested business as usual.

But overnight, the picture shifted: zero AIS transits were recorded through the strait, and only two non-Iranian commercial vessels were AIS-visible this morning.… pic.twitter.com/F4djrrT38m

— Windward (@WindwardAI) June 21, 2026

"But overnight, the picture shifted: zero AIS transits were recorded through the strait, and only two non-Iranian commercial vessels were AIS-visible this morning. Hesitation is back in an already unpredictable corridor," Windward continued.

Related:

  • Vance 'Skeptical' That Iran Closed Hormuz Strait Again, Pentagon Declares Safe Passage Remains 'Intact Today'

However, Bloomberg data show that after vessel transits through the strait spiked to 23 on Thursday, shortly after the interim peace deal was signed and one day before the Hormuz chokepoint reopened, the transit count is now 9 today.

There are reports that the Islamic Revolutionary Guard Corps warned vessels not to approach the critical waterway, citing Israeli actions in Lebanon and alleged US violations of ceasefire commitments. It remains unclear whether Iran has actually enforced the closure.

President Trump insisted on Saturday that "NO TOLLS" would be charged on ships transiting Hormuz during or after the 60-day interim ceasefire. But he noted, "unless they are imposed by and for the United States of America, should the deal not be completed, for services rendered as the Guardian Angel to the countries of the Middle East for purposes of both past, present, and future reimbursement of costs."

Brent crude closed around $80 a barrel last week after the US and Iran reached an interim deal to lift the US blockade and reopen the Strait of Hormuz, easing fears of a prolonged Gulf supply shock.

This prompted Goldman analyst Daan Struyven to forecast on Wednesday that crude prices would normalize to pre-war levels by the end of July and that regional crude production would recover by October.

Struyven estimates that Hormuz flows would need to rise by about 13 million barrels a day from current levels to reach roughly 70% of pre-war volumes.

The problem with Hormuz is that Tehran is now using the narrow, critical waterway as leverage for technical talks. That suggests Iran could continue to spark uncertainty during today's negotiating window, then signal a reopening if talks make progress before NYMEX WTI futures open later this evening. 

Tyler Durden Sun, 06/21/2026 - 09:20
Tyler Durden

Gabbard Drops Fauci COVID-19 Receipts On Last Day: He Funded The Research, Cooked The Cover Story, Then Lied To Congress

Zero Rss
3 months 1 week ago
Gabbard Drops Fauci COVID-19 Receipts On Last Day: He Funded The Research, Cooked The Cover Story, Then Lied To Congress

Newly declassified documents released Thursday by Director of National Intelligence Tulsi Gabbard show that a U.S. national laboratory assessed the COVID-19 lab-origin hypothesis as a serious possibility as early as May 2020, as well as evidence of U.S.-funded coronavirus research that included planning for spike-protein modifications, receptor-adaptation experiments, and testing in humanized mice in collaboration with researchers at the Wuhan Institute of Virology.

The documents also prove that Anthony Fauci lied under oath. 

Today, on my final day as Director of National Intelligence, I’m releasing never-before-seen communications and documents exposing how Dr. Fauci provided millions in US taxpayer dollars to fund dangerous gain-of-function research at the Wuhan lab, worked with politicized elements… pic.twitter.com/ZMdliW4zyS

— DNI Tulsi Gabbard (@DNIGabbard) June 19, 2026

The release, issued on Gabbard’s last day on the job, includes an eight-page May 27, 2020, assessment from Lawrence Livermore National Laboratory’s Z Program. That assessment concluded that “all of the necessary conditions for an accidental release of a laboratory-modified coronavirus - specifically a coronavirus adapted to recognize human cell receptors - were present at the Chinese Wuhan Institute of Virology in mid-to-late 2019.” It assigned equal weight to a laboratory-modification hypothesis and a natural-origin scenario.

Screenshot, ODNI release

Meanwhile, Recall that while the government was locking us down, Dr. Anthony Fauci and those in his orbit were actively fabricating a 'wet market' narrative that would conceal US research as a possible origin - despite his own advisors initially insisting that COVID-19 looked manmade.

In his January 2024 transcribed interview, Fauci was asked about conversations concerning the same three topics - COVID origins, WIV, and EcoHealth. When asked about the CIA, he answered yes: he said he was briefed “once or twice” in a secure NIH facility and also recalled a briefing in a White House situation room.

The newly released documents then show a June 4, 2021 briefing involving CIA/WCP personnel, NSC officials, and Fauci, during which Fauci offered views on pangolin research, sick WIV researchers, single-lineage vs. multi-lineage evidence, and recommended scientists for the IC to contact. A separate CIA-context email says that same 40-minute secure video teleconfrenece involved CIA/WCPMC officials and that Fauci gave thoughts on the 4 May 2021 COVID-origin briefing and recommended U.S. scientists to consult.

So, he lied. 

According to a statement released with the files, "Fauci worked with politicized career leadership in the Intelligence Community (IC) to suppress the truth about his actions, the virus’ lab-leak origins, and his role in directing U.S. funding for this dangerous research that caused immeasurable harm and countless lost lives. These documents expose Fauci’s direct role in influencing and manipulating IC assessments on COVID-19, and how Fauci lied to Congress in 2024, when under oath he denied knowledge of or participation in discussions with intelligence officials about viral research."

U.S.-Funded Research and Planning for Coronavirus Manipulation

The files include the Year 5 progress report for EcoHealth Alliance’s NIH grant 5R01AI110964-05. Under Specific Aim 3, the project outlined plans to:

  • Sequence spike genes from bat coronaviruses.
  • Create mutants to assess how much further evolution would be needed for efficient use of human ACE2 or other receptors.
  • Conduct receptor-mutant pseudovirus binding assays.
  • Perform infection experiments in cell lines and humanized mice.

This research track overlaps with work described in the 2018 DEFUSE proposal, which involved EcoHealth Alliance, Peter Daszak, Ralph Baric of the University of North Carolina, and Shi Zhengli’s team at WIV. The proposal sought to create chimeric bat coronaviruses with enhanced human infectivity, including consideration of furin cleavage site insertion to improve lung-cell entry, and to test the resulting viruses in humanized mice originally developed in Baric’s lab.

A 2016 WIV paper included in the release describes a synthetic shuttle vector system for assembling large DNA fragments, with demonstrated capability up to 31 kilobases. The authors presented the method as a tool for “genome-scale DNA reconstruction,” a technique relevant to synthetic biology and virus engineering.

Surveillance work under the same NIH grant reported that 9 of 1,497 rural residents in southern China (0.6%) were seropositive for bat SARS-related or HKU10 coronaviruses.

And from leaked emails three years ago:

Among other things, the NIH helped fund experiments at WIV that infected genetically engineered mice with “chimeric” hybrids of SARS-related bat coronaviruses in what some scientists have described as unacceptably risky research. 

...

Andersen laid them out plainly in an email to Fauci that same evening. “The unusual features of the virus make up a really small part of the genome (<0.1%) so one has to look really closely at all the sequences to see that some of the features (potentially) look engineered,” Andersen wrote in the email. “I should mention,” he added, “that after discussions earlier today, Eddie, Bob, Mike and myself all find the genome inconsistent with expectations from evolutionary theory. But we have to look at this much more closely and there are still further analyses to be done, so those opinions could still change.” -The Intercept

Internal Discussions and Awareness of Manipulation Research

A June 8, 2021, internal email in the release references a 2016 New York Academy of Medicine meeting at which Peter Daszak reportedly discussed colleagues in China “manipulating the spike protein on coronavirus to make them more virulent.”

Other 2020–2021 emails show officials debating technical concerns, including references to a DOD report on a “suspicious added furin-site” and FBI reporting containing unusual genetic descriptions. One analyst noted the risk that non-experts could misinterpret technical data while still calling for scrutiny. Another observed that “the IC took direction straight from NIH… the people that funded the Wuhan Lab” and referenced “a complex web of money and politics influencing analysis.”

Picking Their Reviewer

July 2021 emails concerning the selection of outside reviewers for COVID-origin assessments show officials rejecting several candidates for political sensitivity or conflict-of-interest reasons:

  • James Clapper was viewed as too politically “hot.”
  • Anthony Fauci was flagged due to his position as a “customer” of the assessment through NIH funding ties.
  • Michael Morell was considered “too public.”
  • Sue Gordon and another individual identified only as “Beth” were also set aside.
And so... 

These materials provide primary-source documentation that a U.S. national laboratory assessed a laboratory origin as equally plausible to natural emergence at a time when prominent scientific publications were publicly emphasizing a natural zoonotic source and characterizing alternative hypotheses as conspiracy theories. This includes the February 2020 Lancet letter and the March 2020 Nature Medicine paper “The Proximal Origin of SARS-CoV-2”, along with subsequent amplification by NIH leadership.

The research details in the declassified grant reports and proposals involved techniques and modifications - spike-protein engineering, receptor adaptation, humanized-mouse testing, and consideration of furin cleavage sites - that later featured prominently in scientific debate over SARS-CoV-2’s characteristics.

Shi and Daszak clinking glasses, undoubtedly after lots of humanized mice successfully died horrible COVID deaths. Tyler Durden Sun, 06/21/2026 - 08:35
Tyler Durden

Pagination

  • First page
  • Previous page
  • …
  • Page 212
  • Page 213
  • Page 214
  • Page 215
  • Page 216
  • Page 217
  • Page 218
  • Page 219
  • Page 220
  • …
  • Next page
  • Last page
Checked
57 minutes 10 seconds ago
URL
https://www.zerohedge.com
Zero Rss feed

zero rss

News feeds

  • Newly Released Fauci Files Reveal Dangerous NIAID-Funded Aerosolized Ebola Research
  • FICO Crashes Most Since 2004 As Pulte's Mortgage Score Shakeup Threatens Its Moat
  • Record Plunge In Real-Estate Job Opening Sends JOLTS Sharply Lower, Hints At Ugly Jobs Report
  • AI Is Repricing Capital Before It Reprices The Economy
  • 'Worse Than COVID': Consumer Confidence Crashes In September
  • Anthropic Warns Of 'Existential AI Risks To Humanity' In IPO Prospectus; OpenAI Scraps Release Of "Deceptive" Model
  • Pinky Promise
  • Elon Musk Makes A Move On The Banks
  • Leaked Anthropic IPO Prospectus Shows $42BN Net Loss, $518BN In Unfunded Spending Commitments, And $20BN In Cash
  • US Home Prices Are Rising At Their Fastest Pace In Over A Year, But...
More

zero rss

Copyright (c) 2026 FYCKL Project