Zero Rss

Showcase Of Socialism: New York, Europe, And The Rise Of The New Left

Submitted by Thomas Kolbe

Supporters of bourgeois-conservative or libertarian politics have had little reason to celebrate over the past decades. One could also say that the interim balance sheet of the 21st century will go down in history as a complete failure for patriots, sovereigntists, and friends of liberty.

The sparks of hope remain largely confined to a few South American beacons. Alongside El Salvador’s Nayib Bukele and Argentina’s eccentric libertarian Javier Milei, the conservative politician of German descent Antonio Kast recently achieved an impressive electoral victory in Chile.

Yet with Antonio Kast’s family history, the similarities between South America’s political revolution and the land of his forefathers - Germany -+already come to an end. It is hardly far-fetched to say that Berlin politics and the EU doctrine it dominates resemble the left-Islamist politics of New York Mayor Zohran Mamdani far more than they resemble the chainsaw-wielding libertarianism of Javier Milei or the conservative momentum represented by Antonio Kast.

Kast has undoubtedly succeeded in overcoming the National Socialist ideology embraced by his father and establishing himself as a conservative-patriotic politician. In the culture war against the socialist camp, maintaining a clear distinction between patriots, sovereigntists, and libertarians on one side and the radical right on the other is indispensable. European conservatives repeatedly fail because the ideologically socialist political spectrum and its aligned media apparatus successfully blur the line between conservative-patriotic politics and outright extremism, thereby severely obstructing any conservative revival.

Kast must look upon the bizarre developments in the homeland of his ancestors with profound bewilderment.

How must this aggressive European eco-socialism appear from the perspective of a conservative South American? Perhaps as a reminder of the ugly collectivisms of the 20th century. Or perhaps South Americans perceive Europe’s political decadence as a recurring cycle of barbarism—a warning to finally overcome the socialism that held their continent down for generations.

That task may prove far more difficult than many assume. Germany’s politically and ideologically dominant EU increasingly follows an Orwellian script in frightening detail, constructing a bureaucratic surveillance state layer by layer. Pillars of bourgeois society such as the family, Christianity, private property, freedom of speech, individual mobility, and cultural life itself are all coming under mounting media and political pressure.

And at times, New York’s new mayor Zohran Mamdani appears almost like an American offshoot of this European ideological confusion. Socialist to the core, climate activist, and by no means a moderate representative of Islam, he embodies the convergence that Europe has already advanced through mass immigration and the transformation of the economy into a green command apparatus with quasi-military features: the arrival of a new socialism.

His first four months in office already read like the platform of Germany’s Left Party—with establishment approval attached: rent controls, free public transportation, universal childcare, and even the bizarre proposal of government-run grocery stores—a Yankee version of the Soviet consumer cooperative—is still on the table. Mamdani sells a world without consequences, a fantasyland in which everything is distorted into a fairy tale for those unwilling to perform or produce. Perhaps the immense wealth of New York’s upper classes has clouded his judgment, but this socialist nightmare financed through vote-buying consumes staggering amounts of money.

Mamdani is about to learn his first hard lesson. Wall Street firms, investment banks, and major funds are already preparing their escape routes. Whether Citadel, Apollo Global Management, or Wells Fargo, many are actively exploring new headquarters. Will Miami become the great beneficiary of New York’s self-destruction? The top tax rate is set to rise another 2 percent, inheritance tax exemptions are to be sharply reduced, and corporate taxes have already been raised by 4 percent. As noted before: it all feels remarkably European.

Mamdani, who himself possesses no meaningful private-sector experience, now blames precisely those still investing in New York for the city’s decline: freelancers, entrepreneurs, and investors who create jobs and carry actual social responsibility rather than hiding behind socialist platitudes. Politicians like Mamdani in New York—or figures such as Heidi Reichinnek and Lars Klingbeil in Germany—thrive politically because few people take them seriously until the damage is already done. The situation in New York appears increasingly chaotic. Are we witnessing the rise of socialism inside a city deliberately captured by America’s radical left?

The creeping “Cubanization” of the capital of world finance was made possible primarily through a politically engineered wave of immigration that accelerated during the years of the Barack Obama presidency and never subsided. The Muslim share of New York’s population has now reportedly risen to between 10 and 12 percent. America’s far-left Democrats intentionally transformed New York into a destination for mass migration in order to send a message to their political opponents: your capital remains trapped within our power structure once we secure a demographic majority aligned with us.

The left effectively imports new voting blocs. From the perspective of increasingly pressured destination countries, this is cynical, dehumanizing, and civilizationally destructive. Europe knows this dynamic well. The EU has successfully defended its policy of open borders against all criticism up to the present day. A return to the historically conservative politics of native populations is thereby rendered increasingly impossible over the long term.

Political actors such as Mamdani in New York or former President Barack Obama - but also European figures closer to home such as Friedrich Merz and Ursula von der Leyen - capitalize with almost diabolical precision on a deep societal weakness. Our fate is that demographically exhausted, secularized, uprooted, and materially complacent societies no longer possess the strength to rediscover a forward-looking spirit of growth and renewal. Europe, much like Japan, finds itself in demographic retreat. European societies struggle hopelessly to preserve social equilibrium through overstretched welfare states, while only the bureaucratic apparatus itself continues to expand. Socialists like Zohran Mamdani skillfully transform that apparatus into an expanding vehicle of power deployed against the remnants of bourgeois society. The Green Deal is the practical implementation of this abstract tendency - a massive extraction mechanism that in the United States was halted only through the intervention of President Donald Trump.

New York’s mayor may well rank among the most prominent representatives of globalism, which repeatedly emerges like a rotten fungus from the decaying soil of our age. What is unfolding in New York on a smaller yet symbolically charged scale has already developed in Europe on a grand scale through the Brussels-centered EU power complex. The coming months and years will reveal whether European nations still possess the strength to escape the socialist trap and confront the von der Leyens and Mamdanis of this world with a cultural and economic alternative resembling a European version of South America’s conservative and libertarian revival.

* * *

About the author:  Thomas Kolbe, a German graduate economist, has worked for over 25 years as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Tue, 05/26/2026 - 17:40

Hasan Piker Says Quiet Part Out Loud, Maps Radical Left NGO Network To China-Based Marxist Financier

Far-left Turkish-American millionaire and Twitch streamer Hasan Piker appears to have committed an operational-security mistake by publicly identifying American Marxist tech financier Neville Roy Singham, who has reportedly been living in China and has been linked by The New York Times to CCP-aligned propaganda networks, as a major financier of pro-Marxist revolutionary NGOs operating inside the U.S.

On Sunday, Piker discussed the U.S. Treasury's "Requests for Information" subpoena related to his "humanitarian trip" to Cuba with pro-China CodePink cofounder Susan Medea Benjamin. That story was first published by Fox News' lead NGO investigator, Asra Nomani, on Saturday.

Piker pointed out that the Treasury likely has a broader target, is "probably Singham" and "his operation," naming PSL (Party for Socialism and Liberation), ANSWER Coalition, Code Pink, and "anything that he has ever financed."

He then acknowledged that Roy Singham lives in China and has been "a funding vehicle" for political movements and activism in the U.S.

We're sure Singham network comrades are absolutely furious with Piker because, as NGO investigator Stu Smith wrote on X, "Hasan didn't refute the network. He mapped it."

🚨 Hasan Names Singham, PSL, ANSWER, and Code Pink in One Breath

On stream today, Hasan Piker discussed the reported Treasury scrutiny and said the broader target is “probably Singham” and “his operation,” naming PSL (Party for Socialism and Liberation), ANSWER Coalition, Code… pic.twitter.com/0zpYhJbPV2

— Stu Smith (@thestustustudio) May 25, 2026

Piker's disclosure of Singham on a livestream is significant because it appears to validate long-standing concerns from congressional, Treasury, and State Department investigators that the Singham-funded nonprofit network is not only engaged in charitable work but is also a far-left agitation network financed by Singham in China.

Timing here is also important because federal investigators have been observing and tracking nonprofit funding flows of NGOs, political activists, and foreign-linked networks used as front groups by hostile nations for statecraft operations to destabilize the US from within.

We've been early to the story of some nonprofits used as adversarial influence operations, as noted last year:

• Is There A "Cuba Connection" Behind The Radicalization Of America's Nonprofit Left

More from Fox's Nomani:

🚨This story is insane. Activist groups are meeting inside a union hall with representatives of foreign governments to receive direction on what to protest about and what legislation they want supported.

Why are we letting foreign governments do this? https://t.co/CrDAsWPinj

— 🇺🇸 Jason Curtis Anderson (@JCAndersonNYC) May 26, 2026

Piker claims the investigation into his Cuba trip is the government's attempt to silence his free speech, but there's a reason the mainstream press has not rushed to defend him as a free-speech martyr: it is well established that foreign influence operations can operate under the cover of humanitarian work. This is a dirty secret that governments around the world know all too well.

Tyler Durden Tue, 05/26/2026 - 17:20

Iraq's Oil Collapse Sparks Race For New Export Routes

Authored by Simon Watkins via OilPrice.com,

• Iraq's oil production has collapsed to just 1.39 million bpd after the Strait of Hormuz blockade stranded exports.

• Baghdad is urgently trying to revive northern export routes through Turkey, including the Kirkuk-Ceyhan system and a new Kirkuk-Nineveh pipeline.

• China is re-emerging as a major strategic player in Iraq's energy infrastructure, with Chinese firms heavily involved in Baghdad's new north-south pipeline expansion.

April was indeed the cruellest month for decades for Iraq's crude oil production, with an average of 1.389 million barrels per day (bpd) over the period. This compares to a monthly average of 3.47 million bpd from January 2002 to the end of March this year, and an average of over 4.1 million bpd in the three months leading up to the onset of the U.S./Israel-Iran War on 28 February. The last time oil production fell to the current level in the country was in the early 2000s, during and immediately following the 2003 U.S.-led invasion. Even for a diversified economy, this would spell bad news, but for Iraq, it is existential, with over 90% of its annual budget historically coming from oil and around 95% of that black gold having to pass through the still-blockaded Strait of Hormuz before it is monetised. The effective closure of that key export route meant that Iraq's domestic oil storage tanks quickly filled to maximum capacity, and because it has extremely limited options to transport its crude elsewhere, it has been forced to shut down production wells entirely. As disastrous as it is now, even worse may be to come soon, as these shutdowns can cause permanent damage to wells through a loss of reservoir pressure, water infiltration, and corrosion, among other factors. In Iraq's case, many of its biggest mature southern fields are highly susceptible to these problems. This is why the race has been on in Baghdad to secure other export options, most notably now, pipeline options in the north, but these bring their own sets of problems with them.

Historically, moving oil from the southern part of Iraq administered by the Federal Government of Iraq (FGI) in Baghdad was a largely redundant exercise, with little demand for it from Europe that was not already being filled by oil coming from the country's semi-autonomous northern region, presided over by the Kurdistan Regional Government (KRG). Instead, the onus of the FGI's export drive was to the East, especially to China - a route involving the Strait of Hormuz. This was also a pivotal means by which sanctioned Iranian crude oil could be surreptitiously transported to the same destination, rebranded as non-sanctioned Iraqi oil, with all elements involved in this mechanism analysed in full in my latest book on the new global oil market order. Aside from the ongoing conflicts with Washington that this continued practice brought with it for Baghdad, it also meant that the Federal Government could focus on measures aimed at stopping the KRG's oil exports to Europe via a pipeline running into the Turkish port of Ceyhan, thus pressuring its ability to generate financing independent of Baghdad. This was central to Baghdad's long-term objective to destroy the economic infrastructure of the Kurdistan region before rolling it into the remainder of a unified Iraq as just a regular administrative region. The idea was in line with the geopolitical ambitions of Baghdad's superpower sponsors, China and Russia, as also detailed thoroughly in my latest book. These objectives were outlined some time ago by a very senior member of the Russian administration to a senior source who works closely with Iran's Petroleum Ministry, and then exclusively relayed to OilPrice.com: "By keeping the West out of energy deals in Iraq, the end of Western hegemony in the Middle East will become the decisive chapter in the West's final demise." On the other hand, the U.S. and its allies wanted to bolster the independence of the Kurdistan region to act as leverage to extend their influence in the rest of Iraq to the south. Their objective was to have the Kurdistan region expel all Chinese, Russian, and Iranian companies from the region, and then to gradually push for the same to happen in the rest of Iraq.

The key lever Baghdad used to effect this plan to subsume the northern Kurdistan region was a deal struck in 2014, in which the FGI pledged to send the KRG money each month from Iraq's central government budget (17% at the time the deal was made) in exchange for the KRG pledging to send oil produced in its region (around 550,000 bpd at the time of the initial deal) to the FGI. The deal has never worked properly, with either Baghdad accusing Erbil of underdelivering oil (and selling it separately outside the terms of the agreement) or Erbil accusing Baghdad of underpaying from the budget - or both simultaneously. This, though, has caused a big problem for Baghdad since the outbreak of U.S./Israel-Iran War, in that the KRG had the only workable pipeline solution that would enable Baghdad to move its oil anywhere for monetisation through exports. Moreover, the supply/demand dynamics shifted so that European refiners grew desperate to secure any replacement barrels to compensate for those that had come through the Strait. To capitalise on this - but with no fully working pipeline itself, and disagreements with the KRG still simmering away - Baghdad has resorted in recent weeks to transporting oil to Turkey as and when it can through trucks overland.

Something is better than nothing, of course, but these volumes pale into insignificance when compared to those that could be achieved through a working pipeline, and it is this that Baghdad is aiming to get up and running as soon as possible. Not that long ago, the FGI had an oil pipeline that ran from the disputed, federally-controlled Kirkuk province adjacent to Iraq's Kurdistan region to the Turkish port of Ceyhan. It ran northwest from the Kirkuk K1 field through federal territory (the Salahaddin and Nineveh provinces, near Mosul) up to the border town of Fishkhabur. This "original" Kirkuk-Ceyhan Pipeline or Iraq-Turkey Pipeline (ITP) consisted of two pipes, which theoretically had a nameplate capacity of 1.6 million bpd combined and was split into 1.1 million bpd for the 46-inch (1,168-mm) diameter pipe and 500,000 bpd for the 40-inch (1,016-mm) line. This FGI-controlled pipeline's export capacity reached between 250,000 and 400,000 bpd when running normally, but even before the Islamic State entered the picture in 2014, the pipeline was subject to repeated and ongoing attacks by various Sunni militant groups operating in the region. Given its unreliability as an export option, the KRG constructed its own single side-track pipeline, from the Taq Taq field through Khurmala, which joins the Kirkuk-Ceyhan pipeline in the border town of Fishkhabur. This had a nameplate capacity of 700,000 bpd, which was then increased to 1 million bpd, although it has so far reached only 900,000 bpd.

With or without a peace deal between Iran and the U.S./Israel alliance, Baghdad is now pushing ahead with the Kirkuk-Nineveh pipeline as part of the Iraq-Turkey crude oil pipeline extending to Ceyhan Port on the Mediterranean Sea, which is independent of the KRG. The Kirkuk-to-Nineveh line is not a standalone project, but rather is the vital northern leg of the rehabilitated federal network, proving the physical pipe required to carry oil around the KRG's territory and deliver it directly to the Fishkhabur border terminal. The 350,000-bpd design capacity of this Kirkuk-to-Nineveh segment reflects the Oil Ministry's cautious, phased approach, as they cannot safely test the entire 1.6 million bpd nameplate capacity of the old system at once. Opening this 350,000-bpd pipeline allows Baghdad to easily handle the initial trial target of 150,000 to 250,000 bpd of Kirkuk crude next month. Moreover, once the southern Basra-to-Haditha corridor is built, it will plug into this newly opened Kirkuk-Nineveh-Fishkhabur line, creating a seamless, high-volume flow from the Persian Gulf to Turkey - at least, that is the idea.

However, just when the West thought that Iraq might be moving back into its own sphere of influence and away from China's, Beijing's hand has appeared again in this grand pipeline project. To obviate any future problems that might come in transporting oil from its massive southern fields out into the world, Baghdad is working to connect these directly to the northern network, and to achieve this, it has agreed to partner heavily with Chinese engineering firms. This will be part of the US$1.5 billion emergency infrastructure budget approved by former Iraqi Prime Minister Mohammad Shia al-Sudani that ties into the 2019 "Oil-for-Projects" agreement between Baghdad and Beijing, fully analysed in my latest book on the new global oil market order. Suffice it to say here that under this framework, Iraq sets aside 150,000 barrels of oil per day in an escrow account to serve as collateral for such work undertaken by Chinese entities. Indeed, Baghdad bypassed traditional open public bidding to directly invite specialised Chinese state companies to fast-track construction of the US$5 billion Basra-to-Haditha pipeline - the 700-kilometre mega-corridor designed to pump 2.5 million bpd from the south up toward the northern networks.

Tyler Durden Tue, 05/26/2026 - 17:00

Reuters Peddles Fake News After Defense Contractor Misuses Civilian Starlink Terminals

Reuters dropped another misleading article today - this time attempting to manufacture drama between the Pentagon and SpaceX over Starlink usage during the Iran conflict.

The story framed routine commercial contract discussions and terms-of-service enforcement as major "tensions" and growing Pentagon reliance giving Elon Musk undue leverage.

Reuters' version of events was that SpaceX used wartime urgency to raise the price of Starlink connections on U.S. drones from roughly $5,000 to $25,000 per terminal, forcing the Pentagon to pay up while exposing how dependent the military has become on Musk-controlled infrastructure.

The reality, according to Musk, is that the dispute centered on a more basic issue: a drone manufacturer or contractor allegedly used civilian Starlink terminals on military weapon systems, including drones, in violation of Starlink's commercial terms of service, when the proper government and defense product is Starshield. In other words, Reuters framed the episode as a price-gouging and leverage story, while SpaceX and the Pentagon framed it as a contract-compliance story involving the misuse of civilian satellite service for weapons applications.

Reuters article is false. They made improper use of the Starlink civilian system for military purposes. Direct violation of terms of service.

- Elon Musk (@elonmusk) May 26, 2026

Musk was clear in multiple posts that this is a longstanding policy. Commercial Starlink is not authorized for weapons applications and is shut down when discovered.

It is a violation of commercial Starlink terms of service to use the terminal for weapon systems. This applies to all users and is shut down when discovered.

There is a separate network called Starshield, which is operated by the US government. This is not under SpaceX control.

- Elon Musk (@elonmusk) March 1, 2026

The Pentagon also pushed back on the story.

The Fake News media has the story wrong, again. @SpaceX remains a strong and valued partner to the Department of War.

The claims in this article are simply not based in reality and do not reflect the close, effective collaboration between our teams. https://t.co/872Maa5FX2

- Sean Parnell (@SeanParnellASW) May 26, 2026

Pentagon officials have emphasized the strong partnership with SpaceX, which provides critical capabilities through its Starshield military variant. Starshield terminals are designed for secure government and defense use, connecting to both commercial and dedicated secure constellations.

The Reuters piece, of course, relied on anonymous sources and selectively presented pricing discussions while ignoring the core issue of contract compliance. Musk has consistently maintained that commercial Starlink terms prohibit weaponization, a point he has reiterated across multiple conflicts.

Tyler Durden Tue, 05/26/2026 - 16:40

Defending The Fourth Amendment To Protect Gun Owners

Authored by John Velleco via Gun Owners of America,

All gun owners fully understand the vital importance of preserving the Second Amendment. But right behind that Constitutional Amendment in importance is the need to uphold the Fourth Amendment’s protection against unreasonable searches and seizures.

After all, without robust Fourth Amendment rights, we will never have much of a Second Amendment right. For that reason, both Gun Owners of America and Gun Owners Foundation have regularly filed amicus briefs to guard against erosion of Fourth Amendment rights. We recently filed such an amicus brief in the U.S. Supreme Court, asking the High Court to ensure that law enforcement not abuse the investigative technique known as “knock and talk.”

As more and more states seek to ban more and more classes of previously legal firearms, gun confiscation has become an ever-greater threat. Historically, the Fourth Amendment’s protections have been greatest when applied to the home, which also happens to be where most guns are kept. The Supreme Court has discussed the right of a man to retreat into his own home and there be free from unreasonable governmental intrusion.

However, the courts have recognized that police have the right to “knock” on the door of your home, and “talk” to you - if you agree to speak. In Florida v. Jardines, 569 U.S. 1 (2013), the U.S. Supreme Court ruled that all visitors - including the police - have an “implicit license” to “[i] approach the home by the front path, [ii] knock promptly, [iii] wait briefly to be received, and then (absent invitation to linger longer) [iv] leave.” That rule seems entirely reasonable - but it is astonishing how police have come to abuse that “implicit license.”

In a recently decided case from North Carolina, State v. Reel, 297 N.C. App. 205 (N.C. Ct. App. 2024), the police broke every one of the rules, but the search was upheld. The officers suspected drug dealing was going on at a house, so they parked on a side street and crossed the defendant’s side yard - not the front yard. They followed a visitor to the front door, and when the defendant opened the door for the visitor, tried to force their way in behind her. The police never actually knocked. And, they never actually talked - except to demand the door be opened so they could rush in, claiming to have smelled marijuana. When the defendant refused and shut the door, another officer kicked in the door, searching for and seizing drugs. Thus, “knock and talk” was used as a pretext to conduct a warrantless search and seizure in a home. Nevertheless, North Carolina’s two highest courts approved.

GOA’s amicus brief urged the U.S. Supreme Court to impose a “bright-line” rule for law enforcement, so officers would know their limits, and judges would have a clear rule to enforce. We argue that since the “implied license” was based on the fact that any visitor - such as trick-or-treaters or girl scouts - to a house could “knock and talk,” the police could do the same. So we took that justification and suggested it be made the rule – a clear limitation on what the police could do. We proposed the rule to be:

The right of a police officer to conduct a “knock-and-talk” is no greater than a Girl Scout has to approach a house to sell cookies.

Since a Girl Scout cannot walk around your house to the back yard to the back door, neither can the police. Since a Girl Scout cannot come to your house in the middle of the night, neither can uninvited police. No peering through windows. No forcible entry. No hanging around without invitation from the occupant. No repeated trips back to harass the occupant. No surveillance devices. And, the occupant must have the right to refuse to talk, and to revoke the “implied license” for the police to remain and talk whenever he chooses.

The police have a tough enough job. Fuzzy rules of procedure not only jeopardizes the peoples’ liberties, but also law enforcement safety.

Gun owners must be especially vigilant where Fourth Amendment rights are concerned, because the threat of warrantless police sweeps to take guns from law-abiding citizens is not merely theoretical. Not long ago, Texas politician Beto O’Rourke boldly claimed: “Hell yes, we’re going to take your AR-15, your AK-47, and we’re not going to allow it to be used against your fellow Americans anymore.” And the anti-gunners seem to get far more militant every year. Thus, any weakening of the Fourth Amendment jeopardizes the Second Amendment.

GOA will always lead the fight to defend the “right to keep and bear arms,” as well as those other constitutional rights essential to protect guns, and that most definitely includes the Fourth Amendment.

John Velleco is the Executive Vice President of Gun Owners of America.

Tyler Durden Tue, 05/26/2026 - 16:20

Lavrov Warns Rubio: Get Diplomats & Americans Out Of Kiev Ahead Of 'Systematic Strikes'

Russia has again warned Washington to evacuate embassy staff in Kiev as it prepares to launch "systematic strikes" against the Ukrainian capital, in apparent retribution for last week's deadly Ukrainian drone attack on a college dorm in Starobelsk, in Russian-controlled Luhansk Oblast.

It is further and more broadly warning all foreign persons to exit the Ukrainian capital, which has already been getting pounded at various intervals, stretching back days. Russia's foreign ministry slammed the college dorm attack, which killed and wounded dozens - the "last straw" and that the military will initiate "systematic strikes" on assorted targets across the Ukrainian capital from now on.

The statement condemned the Zelensky government, which "deliberately targets civilians and does not hesitate to murder children in cold blood" - and warned that serious escalation is imminent.

AFP/Getty Images

"This was the last straw. Under these circumstances, the Russian Armed Forces will be launching systematic strikes against the Ukrainian military-industrial complex in Kiev, including locations where UAVs are designed, manufactured, programmed, and prepared for use,” the ministry said.

The Russian military will no go after "decision-making centers and command posts" - the statement featured in state media continued.

In Kiev, city residents and bystanders must stay away from the "military and administrative infrastructure facilities of the Zelensky regime" - the statement additionally warned.

Most significantly, the Kremlin didn't just stop at this general public announcement, but directly notified the US State Department and Secretary of State Marco Rubio himself:

Russia said on Tuesday its government has warned U.S. Secretary of State Marco Rubio to evacuate diplomats and American citizens from Kyiv, as Moscow plots fresh strikes on the Ukrainian capital.

Foreign Minister Sergei Lavrov “officially informed” Washington that Russia would be launching “systematic and consistent strikes” against Ukrainian military facilities and what Moscow called “decision-making centers,” in a call with Rubio on Monday, according to the Russian government.  

...The call came after the Russian government issued a statement urging foreign citizens, diplomatic personnel, and international organizations to leave Kyiv, warning that it was preparing to target the capital, with a focus on facilities for designing, manufacturing, and programming drones.

At this moment, there's been little or nothing in the way of any official White House condemnation of the imminent new attacks on the Ukrainian capital.

⚡️A Ukrainian surface-to-air missile system intercepts and destroys a Russian Kh-101 cruise missile over Kyiv this weekend. pic.twitter.com/5T1FmbIDeF

— War Monitor (@WarMonitors) May 25, 2026

The fact that Lavrov so bluntly informed his American counterpart is somewhat unprecedented, even after over four years of war. Russia seems to be stating ahead of time that if there's 'collateral damage' against foreign embassies or consulates, that it cannot be blamed. 

Tyler Durden Tue, 05/26/2026 - 15:40

NYC Mayor Mamdani's Housing Plan Sparks Property-Rights Alarm Over Forced Transfers To Nonprofits Mamdani Releases "Block by Block: The Housing Plan for A New Era"

NYC socialist Mayor Zohran Mamdani released "Block by Block: The Housing Plan for a New Era," which presents a sweeping, deeply troubling blueprint to tackle the metro area's deepening housing crisis.

Mamdani told the crowd:

When necessary, we will take aggressive legal action to remove negligent owners and property managers. And for buildings that have suffered chronic neglect, we work to transfer ownership to responsible stewards. Stewards include community land trusts, nonprofits, or even the tenants themselves.

IT BEGINS…

NYC Mayor Zohran Mamdani unveils plan to "transfer ownership" from landlords to "the community" pic.twitter.com/uybGFPk5eD

— End Wokeness (@EndWokeness) May 26, 2026

X user Difficult Froyo outlined what he described as the obvious playbook by the socialist mayor:

Rent control so landlords cannot raise rent to properly maintain the property. NYC takes the property and gives it to his political friends that donate to him. This is all going to be a theft scheme.

Another X user asked:

"Insane. If this isn't communism, I don't know what is. Has America really reached the point of communism?"

Mamdani's backdoor property-seizure strategy will likely spook lenders, insurers, and small landlords. That's because it caps landlord income, allows residential buildings to become distressed, then uses the city's enforcement to push properties into nonprofit, community land trust, or tenant ownership.

Via Inconigto... 

The carveout that Mamdani has to allow one-time rent hikes on certain vacant units already shows that Mamdani's team understands that a rent freeze creates financial stress for some affordable-housing owners. 

Ahead Of Speech: Mamdani To Carve Out Struggling NYC Landlords From Rent Freeze Experiment

NYC socialist Mayor Zohran Mamdani is expected to announce on Tuesday that certain distressed landlords will be excluded from his proposed rent freeze, offering relief to apartment owners squeezed by debt, rising insurance costs, utilities, and repair bills in the increasingly unaffordable metro area.

Mamdani is expected to make the announcement at Powerhouse Arts in Gowanus, Brooklyn, where he will unveil a plan that would allow eligible owners of apartments financed or regulated by city housing agencies to impose a one-time rent increase on vacant units, even if a broader rent freeze is enacted later this year, according to The Wall Street Journal.

The 34-year-old socialist campaigned on the promise of free bus rides and government-run grocery stores, as well as freezing rents on the city's nearly one million rent-regulated apartments throughout his four-year term, which would offer relief to about 2.4 million residents.

The exemption could apply to roughly 300,000 apartments, about one-third of the city's rent-stabilized stock, though officials expect only hundreds of vacant units to use the rent-increase tool. The move reflects the political and financial pressure Mamdani faces after campaigning on a four-year rent freeze for roughly one million regulated apartments, a pledge that alarmed landlords already squeezed by debt, insurance, utilities, and repair costs.

This rent-freeze exemption will only apply to vacant apartments in the city that are already financed and regulated by the city's housing agencies. Rent increases will be limited by the income caps set by the city. -WSJ

WSJ noted that City Hall has also created a new $5 million loan program to help landlords cover tenants' overdue rent and avoid evictions.

The move comes just ahead of the nine-member Rent Guidelines Board, which is set to vote in June, supporting increases of 0% to 2% on one-year leases and 0% to 4% on two-year leases for rent-stabilized apartments.

The New York Times estimates the median rent-stabilized studio apartment goes for about $1,360 a month, and a two-bedroom rents for about $1,530. The median rent for a market-rate studio is north of $2,000, and for a two-bedroom it's about $2,200.

Last year, the Rent Guidelines Board approved increases of 3% for one-year leases and 4.5% for two-year leases, despite the housing affordability crisis in the metro area.

Related: 

• Mamdani NYC Housing Plan Has Insiders Curious, Skeptical

These policies are part of Mamdani's long-awaited housing plan, which also includes new efforts to build multi-family buildings and expand tenant protections. He has laid out a goal of building 200,000 new residences.

"When communities don't build new housing, rents stay high, housing choice stays limited, and many New Yorkers are locked out of neighborhoods where their families can thrive," Mamdani's team wrote in a section of the new plan shared with POLITICO reporters ahead of the release.

Mamdani is trying to balance his pro-tenant rent-freeze campaign promise with the reality that parts of the city's affordable housing network are in financial shambles.

Tyler Durden Tue, 05/26/2026 - 15:20

Elon Musk Welcomes American Airlines To The Starlink Family

American Airlines shares jumped on Tuesday after the carrier announced a sweeping modernization of its narrow-body in-flight experience, with plans to install Starlink satellite internet terminals across 500 of its narrow-body jets in Q1 2027.

The modernization effort signals the end of slow, unreliable internet for a large portion of American's domestic and short-haul fleet. Passengers will soon be able to stream, work, monitor markets via the Bloomberg Terminal, or check X in real time at speeds far beyond current in-flight internet speeds.

Elon Musk welcomed American Airlines to the Starlink family earlier on Tuesday.

Starlink coming to American Airlines! 💫 https://t.co/XC3EasJKdy

— Elon Musk (@elonmusk) May 26, 2026

Starlink is becoming a leading airline internet provider, with deals already in place at United, Southwest, and Alaska Air:

"Starlink is widely regarded as the world's most advanced satellite constellation using a low Earth orbit to deliver broadband internet capable of supporting inflight streaming, online gaming, collaborative meeting tools and more," American wrote in a press release, adding, "With thousands of satellites in low Earth orbit, Starlink can deliver multigigabit connectivity to aircraft using its Aero Terminal, which can support up to 1 Gbps per antenna."

Shares of AAL jumped nearly 6% in late-afternoon trading. Year to date, shares are marginally lower by around 4%.

Some airline passengers are already prioritizing bookings with carriers that offer Starlink, as fast, reliable in-flight internet becomes a deciding factor for streaming, gaming, or simply remote work at 36,000 feet.

The announcement comes just weeks before SpaceX is set to IPO. Read the latest here. 

Tyler Durden Tue, 05/26/2026 - 15:00

Can Spencer Pratt Win?

Authored by Mike McDaniel Via AmericanThinker.com,

The Los Angeles mayoral race provides illuminates Democrat party thinking.

There is non-politician, normal American Spencer Pratt running against Communist, Castro-admiring, current Mayor and black woman, Karen Bass, and Indian - the country - woman, and LA Council member, Nithya Raman.

Graphic: X Post

The only debate thus far was a self-inflicted disaster for Bass and Raman, and Bass is refusing to debate again. Asked--yes or no—whether illegal aliens should vote, Pratt answered “no,” and Bass and Raman, looking like cockroaches caught in the open when the kitchen lights came on, sputtered versions of: “well, it depends…” Pratt is the law and order, clean out the insanely violent homeless, no disease-infested discarded needles, no human feces everywhere, sane, fiscally responsible candidate. Bass and Raman are California democrats, which is to say the opposite of Pratt and sane Californians, many of whom have already fled to red states, leaving only people likely to vote for Bass, the woman who can’t imagine any need for rational anti-wildfire policies, like keeping reservoirs filled with water.

In a rational state—California is currently on fire again—Pratt should be a shoo-in.

His political ads are brilliant, influencing future ads. He’s out-fundraising Bass, but this is California.

Kurt Schlichter is a high-powered lawyer, retired army officer, and best-selling author who still lives in California. He grew up there and lived the California dream, seeing California in its glory days when anything was possible. He remains because he’s one of the well-off elite able to weather California’s current, unlivable horrors. And, most importantly, he doesn’t live in LA:  

Nope, Los Angeles is not my problem, and I’m not going to give it another moment of thought. If it wants to drown in a cesspool of hobo dung, it can dive in. Spencer Pratt is absolutely right about everything he says, from the fires to the junkies to the gross incompetence.

Moreover, everybody knows it’s true. But nobody cares. You need to understand something. This isn’t about competence.

When Karen Bass, a black communist mental defective, looks baffled at Spencer Pratt explaining how she’s helped run Los Angeles into the ground, that look of confusion is not because she’s stupid. She is, but it’s because he’s speaking a different language. She’s a literal communist. She’s gone to Cuba and taken notes. Her purpose isn’t to create prosperity and security for the people of Los Angeles. Her purpose, like that of all communists, is to secure power. The same is true of her bizarre, real competitor, some South Asian communist named Nithya Raman.

As is endemic to the Third World, they fetishize power; these Marxists want control. That’s it. It’s not about filling in potholes. It’s not about safe streets. It’s not even about keeping half the city from going up in flames. It’s about control. There is no bottom to Los Angeles. It’s not going to get so bad that people are going to generate some sort of backlash, no matter how clever Spencer Pratt’s ads are, and they are clever. Those ads are only scoring with those of us on the outside. They give us false hope that something can be done. But nothing can be done. The decline is not the point. It’s literally irrelevant to them.

Take Detroit, once also a rich and powerful city. Do you think that at some point, the leftists who control it looked at it and said, “Wow, we have become Detroit. Yikes! Should we try something else”? No. The dysfunction is the function; the squalor doesn’t matter to them. Not at all.

California has the nation’s highest unemployment and the largest illegal population. When its rampant fraud is investigated, it will surely be number one in the nation in that dubious distinction. The streets and freeways are crumbling, crime is out of control, and never-to-be-finished boondoggles like the high-speed rail to nowhere that no one wants, needs or will ride, and an animal and Monarch Butterfly(?) wildlife bridge despoil the landscape.

Schlichter goes on to explain that the remaining Californians will vote for Bass again because they’re Californians and Democrats.

They can’t help themselves:

What’s it going to take to fix Los Angeles, California, and the rest of the blue hellholes?

Gosh, you don’t want to ask that. You’re not going to like the answer.

They will never fix themselves. Never. All the normal people are gone.

You’ve got a few rich leftists and a bunch of welfare cheats, and that’s it. It’s going to take something from the outside to fix them. It would have to be imposed upon them and not gently

That’s not happening anytime soon—if ever.

Tyler Durden Tue, 05/26/2026 - 14:20

Private Equity To Be Blocked From Buying Homes?

Authored by Matt Stoller via BIG,

Based on a vote last week, it seems very likely Congress will ban corporate ownership of most existing single family homes. "People live in homes," said Trump in January. "Not corporations." While Trump has sometimes talked a big game on constraining Wall Street, he generally hasn't followed through. In this case, though, he did. And somehow, a very corporate-friendly legislature came through as well.

It's almost impossible to believe, but here's the relevant provision in the 21st Century ROAD to Housing Act that passed the U.S. House of Representatives on Wednesday, by a 396-13 margin.

And here's the White House's statement supporting the bill.

As called for during the State of the Union, this legislation includes the President's signature priority: banning large institutional investor purchases of single-family homes. Section 1001 delivers a framework that addresses Wall Street's dominance in the single family housing market and protects Main Street homebuyers.

And the House followed the Senate, which in March passed an even more stringent ban, led by Senator Elizabeth Warren. There are some important caveats here, which I'll go into. But it's still a remarkable accomplishment, and a shockingly weird Warren-Trump alliance, that no one would have predicted a year ago.

So what happened?

I wrote up the full account two months ago, when the Senate acted. The short story is that voters were mad about high housing costs in 2024, and voted against the Democrats as a result. In January, Trump realized voters were now mad at him for high housing costs. And so he wanted to do something. But what could he do? He was trying to impose his will on the Federal Reserve, which could lower rates for homeowners. But that wasn't working out because he couldn't get the Supreme Court or the Senate to go along.

And beyond that, mortgage rates aren't the only driver of costs. So what hiking housing prices? There is a split in both parties over that question. One theory comes from a group of Wall Street-friendly liberals and libertarians, known as the "Abundance movement," who argue the problem is that we're not friendly enough to capital, and the solution is to remove zoning limitations. Yet despite the removal of many such limitations in states like California, there hasn't been a spurt of homebuilding.

A different theory comes from anti-monopolists, who believe that the consolidation of financing power and homebuilding capacity led to supply restrictions. That group argued that Wall Street cash was pouring into single family housing as an asset class, driving up prices for ordinary people. And those buyers, as corporate landlords, didn't serve renters particularly well. There is substantial evidence behind this theory.

Institutional ownership is regionally concentrated, with investors buying up properties in particular cities. In Atlanta, for instance, large institutional investors have dominant shares of the market…

In 2024, the Federal Trade Commission under Lina Khan found that Invitation Homes, a spinoff of Blackstone, had engaged in rampant misbehavior. The CEO told one of his subordinates to “juice this hog” and they did so by deceiving renters, unfairly evicting people, charging junk fees, and so forth…

Congressional documents showed that “renters in institutionally-owned SFR homes often experience higher rent increases, inflated fees, and diminishing quality of housing over time.” And Federal Reserve economists wrote a paper observing that such investors “raise rents at 60 percent higher rates than the average increase when first acquiring the property,” and that rents overall go up.

Big builders are now working with Wall Street to construct single family homes that never go on the market, but instead are rented out from the beginning. This "Build to Rent" sector took off, doubling in market share from 2021-2024. And it is now where institutional capital is focused. Build to Rent allows Wall Street to augment an asset class, and it enables control of housing supply to keep prices up.

Trump usually has an intuitive understanding of where voters are, even if he often chooses other priorities. And on housing, he got that the public is quite populist. Here’s the New York Times’s latest poll, showing that Democrats by a more than two to one margin blame corporate monopolies over supply restrictions for the price of homes and energy. It’s likely not that different among independents or the GOP.

Trump issued an executive order and a Truth Social post on the need to ban corporate ownership of housing. He even criticized the big homebuilders, saying they were “sitting on 2 Million empty lots, a RECORD.” And he called them similar to the oil cartel OPEC. Here’s what Trump said in his order, and honestly, it would be hard for me to write it any better.

A growing share of single-family homes, often concentrated in certain communities, have been purchased by large Wall Street investors, crowding out families seeking to buy homes. Hardworking young families cannot effectively compete for starter homes with Wall Street firms and their vast resources. Neighborhoods and communities once controlled by middle-class American families are now run by faraway corporate interests. People live in homes, not corporations. My Administration will take decisive action to stop Wall Street from treating America's neighborhoods like a trading floor and empower American families to own their homes.

This policy decision by Trump synced up with a bill that Republican Senator Tim Scott and Democratic Senator Elizabeth Warren had prepared in the Banking Committee to lower housing costs back in July of last year. Their goal was to improve supply, by doing things like encouraging more manufactured housing, speeding up zoning, and providing more public money for homebuilding and cities.

When Trump chimed in with his views, Scott and Warren then included a provision to ban large institutional investors from owning single family homes, setting a limit of 350 homes per investor. They also imposed significant limits on the "Build to Rent" sector. The Scott/Warren bill passed 89-10, an overwhelming majority.

The fly in the ointment was the House of Representatives, notably the Republican Chair of the Financial Services Committee, French Hill. Private equity was pouring in money to help Hill. His goal was to force the Senate to sit down and negotiate something different, removing the institutional ownership caps.

The big question was whether the White House would be able and willing to jam Hill, and force the House to accept the Senate package. It was possible. Trump himself was not particularly focused on housing, as the Iran War, AI, the ballroom, the Federal Reserve and his lawsuit with the IRS were taking up his attention. But if the House Democrats were on board, then the White House could likely swing enough Republican votes to push the Senate bill through.

And that seemed to be doable, even likely. Private equity, especially buying housing, is politically toxic. And the House Democratic lead on the Financial Services Committee is an 87-year old Congresswoman named Maxine Waters, who has traditionally been an assertive liberal icon. So you'd think she'd be supportive, and could cap her long political career with a powerful bill making sure that the American home would be owned by American families.

But Waters, like so many of her generation, just doesn't want to give up power. She's controversial, she's not a good fundraiser, and Democrats are starting to attack the very old leaders who run committees. So instead of shepherding this bill through, she decided to go full pro-industry, and join Hill in opposing the provisions in the bill that would ban corporate ownership. The House majority leader, Hakeem Jeffries, backed her decision, as did much of the "Abundance" world of advocates. The House draft removed the homeownership provisions entirely.

Trump, Warren, and Scott continued to push, and finally they cut a deal with the House. The ban would stay for existing housing stock, but it would not apply if private equity built new housing, aka the "Build to Rent" sector. Corporations that own and rent single family homes would not be forced to sell them, and they can build new ones. But the existing stock of owner-occupied single family homes, roughly 70 million of them, effectively cannot be bought by big business.

There are still some aspects of the bill being negotiated, but in terms of the housing provisions, something akin to what passed the House is likely to be signed into law later this summer. And the legislation, imperfect as it is, will be the most significant housing legislation in decades, and will prevent the acquisition of the existing U.S. housing stock by Wall Street. It will be left to future lawmakers to find ways of letting renters buy out their Build to Rent homes, or further push back institutional capital from owning other parts of the American home. And single family housing isn't enough of a target, one in eight apartments is now owned by private equity.

Still, with this political setup, in this moment, it's a remarkable accomplishment. In some ways, this kind of legislation may have a parallel to Jimmy Carter's deregulatory zeal. Carter wanted to undo FDR's legacy, and fought hard, with a Democratic Congress, to get rid of public utility rules on airlines, banks, telecommunications providers, trucks, and railroads. Torn between the Democratic Party's allegiance to labor and his desire to break that alliance, he was deeply unpopular. But his deregulatory policies stuck. His successor, Ronald Reagan, built on Carter's approach, and it is Reagan, not Carter, who is known as the President that undid the New Deal.

Trump, like Carter, is a fish out of water. Trump's party is not populist, and mostly he has doubled down on support for Wall Street and war. But there are some indications, like this housing bill, that show it's the end for an entire way of doing business. Since Reagan, American policymakers have been aggressive in ensuring that capital can do whatever it seeks in getting the highest return, and the government has sought to turn whatever it can - our houses, our attention, our pain, sports betting - into an asset class for finance. Trump won't end that, just as Carter didn't end the New Deal. But his successor might.

Tyler Durden Tue, 05/26/2026 - 13:40

Mediocre 2Y Auction Prices At Highest Yield Since Feb 2025

With Treasury yields sliding 4 days in a row, today's 2Y auction was not seen as especially concerning (certainly not as much as a week ago, when the 10Y was knocking on 4.70%'s door, vs 4.50% where it trades today). Still, while the auction did have it strong sides, it was hardly stellar.

Starting at the top, the $69BN sale of 2Y paper priced at a high yield of 4.071%, up 26bps from 3.812% a month ago, and the highest since Feb 2025. The auction also priced on the screws with the When Issued 4.071%, following three straight tailing auctions, so a modest improvement there.

The bid to cover was 2.640, which was down modestly from 2.653 a month ago, but above the 2.62 six-auction average.

The internals were in line: Indirects (aka foreign buyers) took down 57.6%, up from 56.48% a month ago but below the 57.9% recent average; and with Directs almost flat at 30.1% (down from 31.65% in April, and above the 29.3% recent average), Dealers were left holding 12.30%, up from 11.87% a month ago and just below the 6-auction average of 12.84%.

Overall, this was a forgettable auction with mediocre stats and internals. Then again, with the market trading treasuries and oil as one asset class today (while stocks do their own thing again), and sending sharply much lower on hopes that this time the Iran deal is definitely imminent (unlike all the previous times), it's not like anyone was paying attention to bond market internals today... or frankly anything else for that matter.

 

Tyler Durden Tue, 05/26/2026 - 13:27

Strait Talk

By Michael Every of Rabobank

Strait Talk

Despite many false dawns, markets remain upbeat on prospects for peace between the United States and Iran. Secretary of State Rubio indicated that the US side had thought it would have something to announce on Sunday night, or “maybe today” given that the Sunday deadline has now passed, and it is actually Tuesday. Striking a more cautionary tone, Iranian President Pezeshkian said of prospects that a deal would be made within the day that “nobody could make such a claim”, while President Trump had earlier said that he had urged his representatives not to rush negotiations.

US markets were closed yesterday, but Asian and European equities finished broadly higher with notable gains seen in Japan’s Nikkei (+2.87%), Taiwan’s TAIEX (+3.26%) and the Euro Stoxx 50 (+1.95%). The July Brent crude future tumbled 7.15% to close at $96.14/bbl while WTI traded below $90/bbl before closing the day at $90.88. Bonds were bid across the curve with moves at the short end being especially pronounced.

Al Arabiya reports that it has obtained a copy of the draft memorandum of understanding that reportedly has the support of both sides. Provision of the MOU are said to include:

• Extension of the ceasefire for 60 days
• ŸReopening the Strait of Hormuz to international navigation, guaranteeing free passage of commercial vessels and oil tankers without additional transit fees, with the Iranian side committing to take the necessary technical and security measures to ensure safety of navigation, including the removal of mines.
• ŸEnabling Iran to resume sale and export of oil.
• ŸContinuation of negotiations over Iran’s nuclear program with the aim of reaching a long-term understanding.
• ŸUS to ease restrictions on Iranian ports and grant specific sanctions waivers for Iran.
• ŸEnding military operations on all regional fronts, including Lebanon.
• ŸFreedom of navigation to be restored in Hormuz over a period of 30 days, with maritime traffic set to return to pre-war levels by the end of the 30 day period.
• ŸNuclear issues to be negotiated over 60 days.
• ŸSome Iranian frozen assets to be released during the first phase of implementation.

This looks very like an oil-for-oil agreement, but notably excludes any mention of Iran’s missile program or regional proxies, and kicks the contentious nuclear issue into the long grass to be negotiated over the next two months. Considering that Iran’s nuclear program was core to the rationale for the war in the first place, market participants might direct some thought toward what could happen if agreement cannot be reached on that elusive point.

President Trump said this morning that “The Enriched Uranium will either be immediately turned over to the United States to be brought home and destroyed or, preferably, in conjunction and coordination with the Islamic Republic of Iran, destroyed in place or, at another acceptable location...” An Iranian response to this claim is not yet forthcoming.

Muddying the waters further, news broke this morning that US forces had carried out strikes against two IRGC ships. A CENTCOM spokesman said that the strikes were defensive, and in response to the ships attempting to lay mines in the Strait – which would certainly run counter to the spirit of the provision for Iran to remove mines that has supposedly been agreed. Iran retaliated by reportedly targeting US planes with surface-to-air missiles, eliciting strikes from the US on missile launchers near Bandar Abbas. Despite the tit-for-tat, US sources say that the ceasefire remains in effect.

Similarly, MOU provisions for ending regional war in Lebanon face strains as Israeli PM Netanyahu says that his armed forces will intensify strikes against Hezbollah to “deal them a crushing blow.” There is also likely to be daylight between the US and Israeli positions on Iran’s nuclear program, as the US appears to be prioritising the re-opening of Hormuz through an oil-for-oil arrangement while Israel views Iranian nuclear enrichment as an existential issue. Netanyahu has previously indicated that Israel reserves freedom to act directly against the Iranian nuclear program and has faced criticism from Opposition Leader Yair Lapid for failing to influence the Americans on this point.

For Trump’s part, peace with Iran is very much being tied to progress on the Abraham Accords that seek to normalize relations between Israel and US-aligned Arab states in the Gulf and elsewhere. Progressing the Abraham Accords would allow the US to make a geopolitical silk purse from the sow’s ear of a closed Strait of Hormuz. Already the importance of this has been demonstrated through the UAE’s (a current signatory) decision to leave OPEC and OPEC+ after having been granted US dollar swaplines and Israeli military aid.

Trump took to Truth Social to say that he is “mandatorily requesting” that all countries in the region sign the Accords, calling out Saudi Arabia and Qatar specifically and saying that failure to do so would show “bad intention” and should preclude those countries from benefiting from a peace deal. Clearly things are moving very fast but, as we have been flagging for some time now, there is potential for a world on the other side of this crisis where oil flows West, priced in dollars, with its security underwritten by the US navy, and Hormuz gradually becomes less important as a maritime chokepoint.

While issues in the Gulf continue to steal headlines, there are also major developments in the Ukraine War. Russia has reportedly warned Washington to evacuate embassy staff in Kiev as it prepares to launch “systematic strikes” against the Ukrainian capital. This follows confirmation from Russia on Sunday that it had used a nuclear-capable hypersonic ballistic missile against Ukrainian targets for the third time in the war.

The Russian Ministry of Defence said that the strikes will be a response to a Ukrainian drone attack against a student dormitory building in Starobilsk that killed at least 18 people and injured dozens of others. The BBC reports comments from honorary chairman of the Presidium of the Council on Foreign and Defence Policy, Sergey Karaganov, who reportedly said “we need to start punishing Europe for things like this, including with strikes. Symbolic to start with. Then, perhaps, less symbolic.”

Clearly, hoped-for progress in the Strait notwithstanding, geopolitical risk is here to stay and it isn’t necessarily all ‘in the price’.

Tyler Durden Tue, 05/26/2026 - 13:00

"Warning Signs Flashing Red": Ebola Outbreak Spreading Faster Than Response, Aid Group Says

Authored by Zachary Stieber via The Epoch Times,

The Ebola outbreak in Africa could become the deadliest in history because it is spreading faster than responders can deal with it, an aid group said on May 26.

Officials failed to initially detect the outbreak due to a lack of testing sufficient to identify the Bundibugyo virus, a rarer type of virus that causes Ebola. The outbreak is centered in the Ituri province in the northeast of Congo, also known as the DRC, where fighting regularly displaces people from their homes and hospitals.

“The initial failure to detect this outbreak has allowed it to spread to several areas of Ituri province in northeast DRC, where the first cases were identified, as well as to North Kivu (just to the south of Ituri) and South Kivu provinces, and now Uganda,” the International Rescue Committee, one of the aid groups on the ground, said in a report published on Tuesday.

With cases reported in key population centers such as Goma, the capital of North Kivu, and Kampala in Uganda, there is a significant risk of onward spread of the disease, the group assessed.

“The warning signs are flashing red,” Bob Kitchen, vice president of emergencies for the group, said in a statement.

“Eastern DRC is confronting this outbreak more fragile and less prepared than during the 2018–2020 outbreak that killed more than 2,000 people—and with fewer resources to fight it. Increased conflict and cuts to global aid funding have dismantled defenses at exactly the wrong moment.”

The outbreak has risen to 101 confirmed cases, about 220 suspected deaths, and more than 900 suspected cases, about one month after the outbreak was first detected. Other countries, such as Rwanda and the United States, have restricted travel from people who have been in Congo or intensified border checks.

“The delay in detecting the outbreak means that we are now playing catch-up with a very fast-moving epidemic,” Tedros Adhanom Ghebreyesus, the World Health Organization’s director-general, told a meeting of African ministers on Monday.

“We are urgently scaling up operations, but at the moment, the epidemic is outpacing us.”

There are no vaccines or treatments for the Bundibugyo virus. Containment efforts include widespread testing, isolating patients, and monitoring people exposed to known or suspected cases.

Ghebreyesus said that working with the governments of Congo and Uganda and other partners would be key to stopping the outbreak. Governments and other entities on Monday pledged about $500 million to ramp up efforts to respond to and prevent further spread of the outbreak, Dr. Jean Kaseya, director-general of the Africa Centers for Disease Control and Prevention, said in a post on X.

Technicians install beds and other equipment inside the isolation area for suspected cases at CBCA Virunga Hospital during rehabilitation work aimed at preparing the facility to receive potential Ebola cases in Goma, Democratic Republic of Congo, on May 22, 2026. Jospin Mwisha/AFP via Getty Images

The International Rescue Committee, which is based in New York, recommended several steps, including relaxing restrictions on the importation of personal protective equipment such as masks, and quickly donating funds to central Africa to support health workers and others.

The International Federation of Red Cross and Red Crescent Societies, another aid group with personnel in Congo, has called for increased funding to expand surveillance and deploy more teams to help locals safely bury Ebola victims.

Patrick Muyaya, a Congolese government spokesman, said in a May 25 post on X that the epidemic was “well contained” in the Ituri, North Kivu, and South Kivu provinces.

“Every day, response teams are being strengthened and surveillance is being intensified,” he wrote, adding later that “we have the experience and expertise to contain this outbreak.”

Tyler Durden Tue, 05/26/2026 - 12:40

Why Oil Markets Could Face A Generational Shock This Summer If US-Iran Talks Fail

President Trump is signaling "make a good deal" or walk away with no deal at all.

Overnight hostilities around the Hormuz maritime chokepoint highlight just how fragile the ceasefire remains as Washington and Tehran try to solidify a peace deal to end the conflict.

The timing of a peace deal is very important because, as we have warned readers, a no-deal scenario would collide with a deteriorating oil-supply backdrop by summer, when global buffers and floating storage begin to run down, and SPR releases become less effective in offsetting lost supply from the Gulf region.

Building on UBS analyst Arend Kapteyn's note from Friday titled "When The Oil Buffers Run Out," Brookings' Robin Brooks and Ben Harris outline in a note that oil markets could face a massive price shock by mid-July as temporary supply buffers run dry.

There appears to be consensus building among Wall Street analysts at Goldman, JPMorgan, UBS, and many other desks that if the Hormuz chokepoint is not reopened in the near term, an energy cliff may materialize in early summer.

The Brookings analysts say crude prices have so far been depressed by three factors: trade rerouting, inventory drawdowns, and market expectations that the U.S.-Iran war would end quickly.

"The bottom line is that the supply shortfall will build in the coming months as temporary buffers are depleted. And if markets grow increasingly pessimistic over an eventual resolution to the impasse in the strait, oil prices may rise materially higher," the Brookings analysts said.

However, they warned that the three factors capping crude prices are fading. Russian floating stocks are likely depleted by the end of April; Iranian floating stocks are expected to be gone by the end of May; and the IEA emergency oil release is projected to be exhausted by July 9.

They continued, "It is fair to say that the scale of the supply shortfall is now well-known to markets. But the timeline on which temporary buffers run out and how this interacts with prices is of critical importance."

"This interaction means non-linear outcomes in prices—in other words, sharp price spikes—are possible the longer this conflict is expected to take. The potential for non-linear outcomes grows the longer oil tanker traffic through the Strait of Hormuz remains severely encumbered," the analysts ended the note.

Shifting back to UBS analyst Kapteyn's note last week on oil buffers, he warned, "Oil prices can move much higher once inventories are depleted."

He continued:

This week saw the largest-ever drawdown in US oil inventories since records began in 1982: commercial inventories and the SPR combined fell by 17.8mb. These stock draws help explain why—despite nearly three months of supply shortfalls from the Middle East—oil is still trading "only" around $105/bbl.

Oil prices and volumes are linked by the price elasticity of demand. A simple relationship allows us to approximate price outcomes under different supply disruptions and degrees of demand destruction:

The oil team estimates that the net supply loss via the Strait of Hormuz is around 9mb/d after SPR releases, equivalent to a ~9% disruption.

At $105/bbl, this implies demand elasticity of roughly –0.2: a 1% increase in prices reduces demand by 0.2% (see chart). Without SPR releases, the supply shock would be closer to 12%, implying a price nearer $123/bbl.

There are two ways in which oil prices could increase much more:

• First, if inventories are depleted they can no longer buffer the supply shortfall.
• Second, as the "easy" adjustments in consumption and production are exhausted, demand becomes less responsive to higher prices.

The chart highlights some scary combinations.

For instance, if the global supply shortfall were 14% then even with the current demand elasticity, oil should be trading closer to $140/bbl. If the demand elasticity was 0.15 rather than 0.2, the implied oil price would be $208/bbl, and if the demand elasticity was 0.1 prices would approach $372/bbl.

What we are outlining here is a growing consensus across Wall Street: a no-deal outcome between Washington and Tehran would represent a severe risk for energy markets, with the critical point of no return by early summer. That is when the temporary buffers suppressing crude prices, including emergency stockpile releases, floating storage, rerouted flows, and hopes for a diplomatic off-ramp, begin to lose effectiveness. Once those offsets are exhausted, the market would likely be forced to slap a new war risk premium more aggressively, removing the current ceiling on Brent and WTI.

JPMorgan analysts recently warned about this ...

... the clock is ticking for Washington and Tehran to get a deal done or risk chaos far beyond energy markets that would spill over into shipping, then the global economy.

Tyler Durden Tue, 05/26/2026 - 12:20

The Fed Should Be Concerned: Job Market Vibes Vs Data

Authored by Peter Tchir via Academy Securities,

The Job Market – Vibes vs Data

It seems like we are on the cusp of an agreement with Iran. We will help analyze the market implications in a SITREP if and when the details are released.

In the meantime, the one question that seems to puzzle everyone, is what is the state of the job market?

Yes, there are all sorts of questions around AI, the AI and data center spend, affordability, and inflation, but the state of the job market seems to be the most puzzling of late.

The juxtaposition of daily discussions about no hiring, and fears of AI job losses, versus some stellar headline data.

Record low consumer sentiment versus ongoing spending remaining strong.

Mixed (at worst) evidence of delinquencies. There is little (that I could find) evidence of a broad-based increase in delinquencies. If you squint hard, you can see evidence of pressure on the lower income part of the population, but as of now, that’s about it.

Unemployment Rate

The last two headline numbers (from the Establishment Survey), as of now (before revisions), were 185k and 115k.Big numbers, an obvious A+ in terms of grading.

While the headline is important, for most of the country, within days of the Non-Farm Payroll (NFP) release, we started to talk less about the headline jobs and more about the unemployment rate. So that seems like a good starting point for exploring the jobs data.

We used the “official” titles from Bloomberg for the Unemployment rate (blue) and the Underemployment rate (black).

The unemployment rate has been trending down and it is close to its best level in 2 years. Let’s give the unemployment rate a grade of A- (though that feels a bit stingy).

The underemployment rate is a broader definition of unemployment. It captures people stuck in part-time, low-paying, or skill-mismatched jobs. The skill-mismatched subcategory (from AI) is the most interesting to me. Is that evidence of AI taking good entry level professional jobs?

The underemployment rate came down early this year, but from the highest levels in the past 5 years. It has been trending higher and is well above the 5-year average. I’d give underemployment a B- grade (though that feels a bit generous).

The unemployment rate is based on the Household Survey.

There are a few things that stand out:

• The gap higher for both the size of the workforce and those employed, that occurred as of December of 2024, appears to be part of annual revisions. It stands out, but is largely noise.

• The size of the labor force has not shrunk much since President Trump took office. I honestly have no idea how many illegal workers show up in the data, or whether they don’t show up in the data. Given the crackdown on illegal workers, I bet most of those jobs never showed up in the data (again, I will admit to being confused how people working illegally were counted in the jobs data, but I’m told by people much more into the weeds on this stuff, that it happens). In any case, I was a bit surprised by the labor force data in the past year remaining almost stable.

• Both the size of the labor force and the number working has shrunk in 2026! I don’t see any way to make fewer workers sound good.

  • The Establishment Survey has jobs of 160k for Jan, -156k for Feb, 185k for March, and 116k for April. Pretty darn good.

  • The Household Survey has -895k in Jan (adjustments included), -185k for Feb, -64k for March, and -226k for April. Even ignoring January, the last 3 months have been awful.

• While the Household Survey is wildly inaccurate, we seem to accept it for the unemployment rate, so why don’t we spend any time looking at it for signs regarding the job market. Again, just weird that it is deemed so “useless” for jobs, but is A OK for determining the unemployment rate? If we used the change in Establishment jobs the past few months, we’d probably be under 4% - which would be amazing!

• The final most salient point in how I think about these two data series, is that they tend to converge over time. They can deviate, often for months, but they tend to converge which tells me that we are probably headed for some weaker headline prints in the coming months.

For those of you not familiar with how I think about the two surveys used for jobs data:

• The Establishment Survey is largely inaccurate, and the Household Survey is wildly inaccurate! From the BLS the NFP data is +/- 122k at the 90% confidence level. For the Household it is +/- 676k at the 90% confidence level! (I used AI for that data, take it with a grain of salt, but you can dig deeper on the BLS site – starting with Employment Situation Technical Note).

  • Imagine reporting your quarterly returns as we made somewhere between losing $1 billion and making $5 billion, but we won’t really know for at least a year.

  • When you really think about the margin of error, it seems almost insane how many really smart people are forced to treat something that amounts to at best, a kind of, maybe reasonable, rough guess as to the current situation as gospel truth. The BLS takes the time to point out that a reading of +50k, gives a 90% confidence that the actual number of jobs is between -72k and +172k (meaning 10% of the time, like once a year, it is likely to be off by more than that!).

I’m almost disgusted with myself (even more than usual) that I am going to try and make a point using data that is just so bizarre!

But the Household Survey is a solid D. If there is any convergence in the two different jobs totals, then we should expect some pain in the Establishment Survey (i.e., the headline number).

I am not sure what to make of the Labor Force Participation Rate (hence the color purple rather than green or red).

• Lower participation rates can occur when times are good. Families are making so much money that a member of the family can step out of the labor force. Maybe stock market gains are so great that you don’t need to work? Overtime pay is so good, one member can step back?

• Lower participation rates can occur when times are bad. People get so frustrated with being able to find work, they just give up and drop out of the pool of people trying to get work.

It’s all a bit of a guess, but I suspect the labor force participation is a negative signal.

I continue to believe that the JOLTs data overstates jobs available (it doesn’t fully capture how many ghost jobs are out there, how many ads are on employment websites that are stale or weren’t removed, etc.).

Even if I’m not correct on my assumption that it is overstated, the jobs available picture deteriorated over the past several years and hasn’t really improved. That would provide some support that labor force participation is dropping due to frustration with the ability to find a job.

My “favorite” piece of data is the QUIT data. I like it because it “crowd sourced.” It is one of the few pieces of data where we get to see what the average worker is thinking. People tend to QUIT when they know they can find another job easily! People tend to stay in jobs, even ones they don’t like, until they find a better job, in a tough labor market. That seems to fit.

I don’t like the HIRE rate quite as much, but it is difficult to fake. It did tick higher recently (I put some green on the chart) but it is NOT showing robust hiring.

This whole section earns a C.

Uber Eats or Law School

According to AI “Law school applications have surged roughly 15% to 33%!”

Nothing says, I’m worried about AI, so I should go to law school, because certainly AI won’t affect the need for junior lawyers.

We tend to see law school applications spike when it is difficult for college graduates to get jobs. We saw this with the GFC. Then, at least, it made more sense. Law school is a great place to hide out for a few years and wind up with a pretty good job if you can do well. But right now? If it is a bad time to graduate from college, I am not sure that in 3 years (as AI improves) it is going to be a great time to graduate from law school. I could be wrong, but off hand, becoming a lawyer “suddenly” (see the spike in applications) seems to be a traditional response in a world that is rapidly evolving.

All of which brings me to my least favorite part of the jobs data – the birth/death model!

I know that not all of the adjustment passes through to the establishment number. But I still think it is useful to think about this number.

My contention is, and remains that:

• At one time people applied for an EIN (Employment Identification Number) because they were creating a real business. Hire a couple of people and make a go of it.

• I believe that with the gig economy people apply for an EIN when they are looking for a side hustle to make some extra money. One client this past week told me that one of the fintech firms provides basically one click functionality to create an LLC and get an EIN. For those with rental properties, get an EIN for each one? For more sophisticated participants get one for Uber, Lyft, etc.?

The gig economy has become a major way to supplement income. With more tools making it easier to run gig jobs as businesses, more will do it. I believe the Big Beautiful Tax Bill provides some benefits to those running their gig businesses as such.

I think that the number of jobs created for each EIN application is less than 1 (many are already working, so just adding another enterprise to their toolkit), hence the birth/death model methodology massively overstates jobs.

• Given the large annual job revisions we’ve been getting, I think there is a very strong case, that overstatement of jobs during the course of the year via the birth/death adjustment is the prime culprit.

This year’s birth/death model seems bizarrely similar to last year’s (and the year before):

• -61k in Jan 2026 vs -105k in Jan 2025 vs -121k in Jan 2024.

• 90k vs 136k vs 151k in Feb, -47k vs -33k vs -21k in March, and 391k vs 393k vs 363k in April.

We have seen massive downward annual revisions. There has been work done blaming much of it on how the birth/death model works. Since we are repeating the pattern in the data month by month, maybe we can assume we will once again be told at the end of the year that the actual jobs were a lot worse than reported?

This section isn’t particularly “damning” but I find it hard to see how it supports anyone arguing that the labor market is strong!

Where The Jobs Are

The first 4 months of the year have added 304k jobs to the economy (the Establishment data as of today).

221k jobs have been added in the Health Care and Social Assistance industry.

73% of jobs have been added in one industry. Yes, a large and vital industry, but that seems like a lot.

• Is some of this related to programs enabling you to get paid to take care of a family member? I think those are great programs, but is that job creation in the way we think of job creation?

This sector doesn’t scream “growth.” If anything, it at least whispers “affordability” as for most of us, healthcare is an expense and one that I’ve seen do nothing but go up (despite how it is calculated for CPI).

The US CPI Urban Consumer Medical Health Insurance City Average has declined 22% since the start of 2021! I know they follow some calculation, but whatever the calculation is, it doesn’t reflect the reality of what employees and employers face on the health insurance premium front.

Yet another reason, that the AFFORDABILITY issue is bigger and more painful than the CPI/Inflation issue. But that rant, is a rant for another day.

Bottom Line

There seems to be, at first blush, an inconsistency between the “vibe” on jobs and the published data.

I think that inconsistency goes away if we broaden what official data we look at.

The Fed should be concerned about jobs. At the moment they aren’t, but they should be.

I would like to see a lot more jobs being created in the ProSec™ industries, than we’ve seen of late. Maybe, if we can move beyond the Iran war, the admin will provide even more support, more quickly to these crucial industries! They are working on it as you read this, but if the President is able to direct even more attention to this, it would help.

One last word on AI and jobs. We don’t know what it does for jobs going forward, but the AI and data center buildout is creating jobs right now! We can (and will) debate the outlook for jobs as AI improves and becomes more prevalent, but the buildout does create a lot of jobs – not just in the construction, but also in the power generation and other adjacent businesses.

Without the AI and data center spend, we’d have even more concerns about the current job market, but that spend looks set to continue, which will help, and maybe buy us the time to get ProSec™ more fully ramped up!

Tyler Durden Tue, 05/26/2026 - 12:00

NANO Nuclear Soars As It Turns Revenue-Generating With Strategic Acquisition

NANO Nuclear announced the acquisition of Secured Transportation Services, instantly converting itself from a pre-revenue developer into a revenue-generating business with in-house secure transport capabilities for nuclear materials.

With the $13 million acquisition of Secured Transportation Services - a nuclear logistics, transportation and services company specializing in the secure transport of radioactive and nuclear materials - NANO continues to vertically integrate itself into what will soon be the leading provider of turnkey nuclear energy solutions to the AI supercycle. Secured Transportation Services generated a profit of about $1.3 million in the twelve months ended Dec. 31, 2025. 

As NANO founder and Chairman Jay Yu put it: “NNE goes from pre-revenue to revenue generating overnight with [this] acquisition.”

Secured Transportation Services provides Nano Nuclear with the logistical infrastructure needed to vertically integrate the nuclear supply chain.

This move adds critical logistics infrastructure to NANO’s portfolio of portable microreactors and advanced fuel fabrication efforts. Secured Transportation Services brings established operations and regulatory know-how for moving sensitive nuclear cargo.

The capability vertically integrates the supply chain and removes a major execution bottleneck for future deployments.

We’ve tracked NANO’s aggressive buildout for months: the modular reactor maker, which according to many is one of the few that carries the promise of powering the AI revolution at a realistic cost, has pushed forward on its microreactor designs and fuel cycle ambitions. This latest deal fits the pattern: rapid, targeted acquisitions that assemble a full-stack nuclear platform.

The company is also demonstrating tangible progress in the deployment of their first-of-a-kind microreactor with the recent acceptance and docketing of their construction permit for the Kronos project in Illinois.

The acquisition also positions NNE to serve the surging power demand from AI data centers and remote industrial sites. Secure, reliable transport of fuel and components becomes a competitive moat as deployment timelines compress.

With this single move, NANO Nuclear has shifted from concept-stage to cash-flowing operations.

Shares of the nuclear micro modular reactor and technology company rose 13% to $29.98 on Tuesday. Shares are up 25% year to date, but they have a long way to go to catch up to their October all time highs north of $60. 

Despite the streak of favorable news in recent months, the nuclear sector has been unduly punished as the market's cash rotation has benefited data centers "picks and shovels" stocks, while ignoring the companies which are expected to power the entire AI revolution. NANO continues to be one of the most shorted names in the space, with 24% of the float shorted.

Tyler Durden Tue, 05/26/2026 - 11:25

Thomas Massie Files To Run In 2028 After Losing Primary

Rep. Thomas Massie (R-KY) has filed paperwork to run again in 2028, just days after losing the Republican primary for the Kentucky House seat he has held for more than a decade.

Rep. Thomas Massie (R-Ky.) speaks during a Senate Homeland Security and Governmental Affairs Committee Second Amendment hearing in Dirksen Senate Office Building in Washington on April 15, 2026. Luke Johnson/Getty Images

The May 25 filing with the Federal Election Commission lists Massie, 55, as a Republican candidate for Kentucky's 4th Congressional District. Massie said the move allows him to keep raising money for his political operation while he decides what comes next.

"This allows me to raise funds to continue my political operations supporting my position as a current office holder and as a potential candidate for federal office," Massie wrote in a post on X. "I haven't made a final decision about which office to seek, if I run."

I filed with FEC for the 2028 House race.

This allows me to raise funds to continue my political operations supporting my position as a current office holder and as a potential candidate for federal office.

I haven’t made a final decision about which office to seek, if I run. pic.twitter.com/heHxDnu31o

— Thomas Massie for Congress (@MassieforKY) May 25, 2026

The filing also comes after Massie drew the ire of President Donald Trump, who opposed him over several policy disputes and Massie's 2025 vote against the One Big Beautiful Bill Act. Trump cannot run for reelection in 2028.

Trump endorsed former Navy SEAL Ed Gallrein, who defeated Massie in the recent Republican primary for the seat Massie currently holds. Massie had taken about 76 percent of the primary vote and 99.6 percent of the general election vote in 2024.

As The Epoch Times notes further, during his concession speech, some of Massie's supporters chanted "2028." He asked whether they wanted him to run for Congress again. They said no, then began chanting "president."

"All right, well you've made a compelling argument, ... but I need a medical margarita right now, and we'll talk about it later," Massie said.

During an appearance on NBC's "Meet the Press" over the weekend, Massie said he would not rule out running for president or county commissioner in 2028.

"I will not rule out anything, and right now I'm not going to rule in anything," he said.

"Look, I've spent the last five days on my farm with my grandkids, and my cattle and my peach trees, and it's a pretty nice life. I don't know if I want to screw that up again. I've been in Congress 14 years, fighting. Every hour that passes, I get decompressed a little bit more. It's like coming up from the bottom of the ocean. And I'll take some time and decide what's next. But I think I will stay engaged in some way or shape. Maybe it's from the outside. I've been exposing what's going on in Washington, D.C. for years and I'll keep doing it."

Massie has served in the House since 2012.

He said on May 22 that he would not be requesting a recount in his race, writing in a May 22 post on X that he does not think he lost due to fraudulent votes, mail-in ballots, or mistabulated results.

"There's a quiet all-out war for the future of our country," he said. "Let us not misdirect our precious resources."

Tyler Durden Tue, 05/26/2026 - 11:00

AI Startup Says It Will Pay People $2,000 A Month to Masturbate... Yes, Really

Authored by Jason Nelson via Decrypt.co,

• Joi AI is hiring 10 “masturbation consultants” at $2,000 for a month to test an AI-guided masturbation feature and document its effects on stress, sleep, mood, and confidence.

• The feature uses mood-matched AI voice sessions, and consultants would submit written feedback and questionnaires directly to the company.

• Joi AI says the campaign is intended to collect product feedback while drawing attention to AI’s growing role in sexual wellness and digital intimacy.

Joi AI says it will pay people $2,000 a month to masturbate. Yes, you read that right.

The AI companion startup is hiring 10 “masturbation consultants” to test a feature called Daily Guided Masturbation, which uses mood-matched AI voice sessions to guide users through the experience. Participants would document how regular use affects stress, sleep quality, mood, and confidence. The four-week role is open to adults 18 and older in the U.S. and the U.K.

“The role is real, and we’ve had great responses since the posting went live,” Joi AI Head of Brand and Communication Julie Levin told Decrypt.

we’re hiring 10 Masturbation Consultants

$2,000/month to test our new Daily Guided Masturbation feature and document the effects on stress, sleep and mood

yes it’s real
yes you get paid

— Joi AI (@joi___ai) May 18, 2026

The listing describes ideal candidates as “articulate, observant, and impossible to blush”—people who can describe sensations “better than a sommelier describes a wine.” The posting also promises flexible scheduling, and “the most interesting ‘What do you do for a living?’ answer at any party.”

Joi AI is an online platform that includes AI-generated avatars, voice interactions, and personalized chat experiences built around companionship and intimacy. Joi AI describes the new consultant role as structured product testing tied directly to its new feature.

“The role involves testing and giving feedback on the mood-matched AI voice-guided sessions, and providing feedback on the overall user experience,” Levin told Decrypt.

According to Levin, participants complete guided sessions and submit written questionnaires directly to the Joi AI team. Sample prompts ask whether the voice matched the selected mood, how immersive the session felt, and whether lags or pauses disrupted the experience.

The listing comes as platforms including Replika and Character.AI have built large user bases around AI-driven relationships and conversational experiences. Joi AI operates primarily through its website rather than major app stores. Levin said the company has more than 1 million monthly active users worldwide and millions of interactions each month, but declined to disclose total download figures.

Unlike AI assistants like Alexa or Siri, designed to help with everyday tasks, Joi AI operates in a smaller corner of that market focused on sexual exploration, fantasy, and digital intimacy. The company rebranded from EVA AI in April 2025, during what it described as its first Dating Stress Awareness Day campaign.

“Joi AI is focused on making AI companionship more immersive, personalized, and emotionally responsive,” Levin said. “We’re innovating features like Daily Guided Masturbation to make AI a more intuitive part of people’s everyday wellness routines, not just a novelty experience.”

The hiring push also comes as studies suggest AI companion use is becoming more common among people already in relationships, often without their partner’s knowledge. A new report from the Wheatley Institute at Brigham Young University and the Institute for Family Studies found that among dating, engaged, and married young adults who regularly used AI romantic companions, nearly 3 in 10 said their real-life partner did not know about it.

AI companion platforms are also facing growing legal scrutiny, including lawsuits alleging psychological harm to minors and deceptive chatbot behavior. Examples include a settled case against Character.AI over a Florida teen’s suicide and a separate lawsuit from Pennsylvania accusing the company of allowing a chatbot to pose as a licensed psychiatrist.

Levin said the hiring campaign was intended to generate discussion as well as recruit testers.

“It was both,” Levin said. “We are genuinely looking for people who can provide thoughtful feedback in this category, but the campaign was also designed to spark conversation around how people are increasingly using AI for masturbation as a healthy, relaxing habit.”

Tyler Durden Tue, 05/26/2026 - 10:40

Iran's 90-Day Internet Blackout Ends As NetBlocks Confirms Partial Restoration

Internet monitoring firm NetBlocks has confirmed our Monday report that, after 88 days of "near-total isolation" from the global internet, Iran has seen a "partial restoration to internet connectivity."

📈 Confirmed: Live metrics show a partial restoration to internet connectivity in #Iran on day 88, after 2093 hours of near-total isolation from international networks, the longest nationwide internet shutdown in modern history. It is unclear if the restoration will be sustained. pic.twitter.com/Fi3z3UCMWp

— NetBlocks (@netblocks) May 26, 2026

The timing of the partial restoration of internet connectivity is notable and may only suggest incremental progress as Washington and Tehran try to solidify a peace deal. Energy experts have warned that if the Hormuz maritime chokepoint remains closed through June, the global oil market could face a disastrous supply cliff as temporary buffers, floating storage, and emergency stockpile releases lose their ability to cap crude prices.

Revisiting our Monday report:

• Iranian Presidency Orders Reopening of International Internet Access After Nearly 90-Day Blackout

We cited Reuters, which said that Iran's President Masoud Pezeshkian issued an order to reopen international internet access after a three-month blackout. However, we added a caveat to readers that this still needed confirmation.

In our view, a partial internet restoration suggests that Tehran may be trying to project a return to normalcy as U.S.-Iran talks continue. It is certainly a positive diplomatic indicator.

Perhaps the Trump team has given Tehran a guarantee that it won't pursue its color-revolution social-instability operation. Again, a positive diplomatic indicator.  

Tyler Durden Tue, 05/26/2026 - 10:20

Conference Board Consumer Expectations Hit YTD Highs, Inflation Fears Dip In May

With war (and rising gas prices) now fully embedded in respondents' minds (along with record high stock prices), it is perhaps not entirely surprising that The Conference Board's Consumer Confidence dipped in May (but was better than expected).

The headline index dipped 0.7 points to 93.1 in May, down from an upwardly revised 93.8 in April.

The Present Situation Index - based on consumers’ assessment of current business and labor market conditions - retreated by 3.2 points to 121.2.

The Expectations Index - based on consumers’ short-term outlook for income, business, and labor market conditions - rose by 1.0 points to 74.4 - the highest since Dec 2025.

Source: Bloomberg

“Consumer confidence edged downward in May as the inflationary impacts of the war in the Middle East intensified,” said Dana M Peterson, Chief Economist, The Conference Board.

“Consumer appraisals of current business conditions and the current labor market were moderately less positive compared to last month. This was somewhat offset by modest improvements in consumers’ expectations for business conditions and the labor market six months from now. Meanwhile, income expectations eased in May, as those anticipating less income rose.”

Consumers’ average and median 12-month inflation expectations ticked downward but remained elevated.

The overall trend of the labor market remains weaker...

Among age groups, confidence ticked up for consumers aged 35-54, but trended downward for older and younger consumers, both month-over-month and on a six-month moving average basis.

By income, confidence among higher income groups trended upward on a six-month moving average basis.

By generation, confidence improved for the Silent Generation (the oldest group) but was little changed or lower among other generations.

By political affiliation, Republicans remained the most optimistic, while Independents were the only group that saw confidence tick up on a month-over-month basis.

Consumers’ write-in responses on factors affecting the economy continued to skew towards pessimism in May. References to prices and oil and gas increased in frequency for a second consecutive month, while mentions of war, geopolitics, and conflict remained elevated—likely signaling consumers’ underlying concerns about the inflationary impacts of the war in the Middle East on their wallets.

Tyler Durden Tue, 05/26/2026 - 10:11