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Zero Rss

Bubble-Wrapped World: How Safety Culture Has Destroyed Our Sense Of Adventure

Zero Rss
3 weeks 2 days ago
Bubble-Wrapped World: How Safety Culture Has Destroyed Our Sense Of Adventure

Authored by Murray Lytle via The Epoch Times,

Are Canadians less adventurous than they once were? It’s hard to argue otherwise.

Alexander Mackenzie was only 24 when the North West Company named him chief fur trader at Fort Chipewyan, in what is now Alberta. A few years later, in 1789 he travelled north along what is now known as the Mackenzie River to become the first European to reach the Arctic Ocean overland. Four years later he crossed the Rocky Mountains and was the first European to reach the Pacific Ocean, beating Americans Merriweather Lewis and William Clark by a full dozen years.

In 1898, Martha Purdy arrived in Dawson City to escape a failed marriage and make her fortune in the Klondike Gold Rush. It was while climbing the notorious Chilkoot Pass that she discovered she was pregnant with her third son. She later remarried and, as Martha Black, was the second woman to be elected to Canada’s Parliament. She was also a successful entrepreneur and a world-renowned expert on wild flowers.

Canadian history is filled with tales such as these. Explorers, soldiers, settlers, and other restless souls who endured great hardships and did great things.

There is a natural sense of awe that arises when retelling such lives filled with adventure. To our modern selves, they appear as fascinating aberrations, gifted men and women with unusual appetites for risky or dangerous undertakings. Their willingness to set out into the unknown strikes us today as thrilling, unnerving, and more than a bit foolhardy. But while their accomplishments may be striking, they lived in more adventurous times.

Today, society shrinks from adventure and the unknown.

Through a combination of practical circumstances, changing social standards, and dramatic shifts in individual risk tolerance and government behaviour, opportunities for adventure have been drastically curtailed.

How can Canadians get that sense of adventurousness back?

“An adventure is only an inconvenience rightly considered”, G.K. Chesterton once wrote. “An inconvenience is only an adventure wrongly considered.” There is a case to be made that adventures are simply harder to come by these days.

There are no more blank spaces left on maps, and hence no places for modern-day Mackenzies to discover.

The omnipresence of the internet and GPS similarly makes it almost impossible to get truly lost anymore. And if you do, help is usually close at hand.

Beyond these practical limitations, however, it seems incontestable that society today is less interested in promoting, facilitating, or participating in adventurous life experiences.

No one talks of running away with the circus or joining the French Foreign Legion anymore, even in jest. According to Statistics Canada, twice as many millennials are still living at home as was the case with previous generations. And if any of these young adults do go away, it’s more than likely to be an adventureless “gap year” holiday between graduate degrees recorded in minute detail on Snapchat and Instagram.

The perpetual childhood of today’s younger generations contrasts sharply with the youthful accomplishments of past eras. William Wilberforce, for example, was elected to the British Parliament at age 21 and then proved instrumental in ending the trans-Atlantic slave trade. His friend William Pitt became Prime Minister at 24, and spent his career fighting the French emperor Napoleon Bonaparte, who became a general at 24. Quite a lot can be accomplished when one starts early.

Other factors that limit the availability of adventure in our post-modern era include the suffocating impact of the welfare state. When Mackenzie left his family home at 15 to become an apprentice in the fur industry, it was because he had little choice. He needed to make his way in the world as a teenager. The same urgency applied to Black when she decided to escape a failed marriage by travelling to the Yukon. With no government to hold your hand, adventure follows. Popular culture in earlier eras also did its bit as well by celebrating explorers and adventurers as celebrities in the same manner that we laud singers and athletes today.

Just as adventure was once regarded as a social virtue to be admired, society today aggressively enforces the opposite expectation—that it is our duty to avoid risk at all costs. In their 2021 book “The Coddling of the American Mind,” social psychologist Jonathan Haidt and lawyer Greg Lukianoff take a close look at the impact of a creeping safety culture on the behaviour of younger generations.

Children, the authors observed, are now deliberately shielded from any sense of risk or uncertainty. How can anyone—young boys most of all—learn about the world around them when school principals announce at the onset of every snowfall that “all snow must stay on the ground.” The ideal of adventure and resilience has been replaced by a debilitating sense of fragility and risk-avoidance.

So is the dream of looking over an untravelled horizon that animated people like Alexander Mackenzie or Martha Black completely dead in the 21st century? Not exactly.

Adventure should properly be considered a spirit, not a place.

It is driven by a powerful mixture of curiosity, necessity, and an openness to experiencing new things. And it can be found wherever uncertainty reigns. Today, that might entail travelling to strange lands, meeting new people, or even engaging in uncomfortable discussions about whether Alberta should remain part of Canada forever.

Wherever the unknown lies, adventure can be found.

Tyler Durden Sun, 05/24/2026 - 17:30
Tyler Durden

Two Billboards In New York Capture The Conflict Of Our Time

Zero Rss
3 weeks 2 days ago
Two Billboards In New York Capture The Conflict Of Our Time

Authored by Kay Rubacek via The Epoch Times,

Two billboards went up in New York City recently. This is a city of advertising, where images appear when someone wants the whole world to see them. One billboard is selling artificial intelligence, and the other is warning about it. The juxtaposition between these two advertisers, who most likely wouldn’t have seen the other’s message in advance, captures the conflict of our times and cements the uncertainty about the future within an artificial intelligence world.

The selling billboard is dark, purple, and almost cinematic.

An AI-generated face with artificial perfection stares out. Three words above her say: “Stop Hiring Humans.” The Era of AI Employees Is Here. The company is Artisan. The company says it “is a provocation. It works because it’s uncomfortable.” It is real. It wants your payroll budget, and it is not embarrassed to say so.

The warning billboard is light, purple, and funny in the way that grief sometimes is. A sad stick figure holds a small sign: Will Create 4 Food. Mock chat bubbles float across it like a corporate memo from a future that has already arrived: “Thank you artists for donating your life’s work to our AI. Your generosity hasn’t gone unnoticed. Just uncompensated.”

The organization’s name is Replacement.AI. It is also real, but it is not selling anything. It is run by anonymous artists who spent their own money to tell you the truth. Their website calls itself “the only honest AI company.” Its homepage reads: Humans no longer necessary. Stupid. Smelly. Squishy. It’s time for a machine solution.

The quotes on the site are genuine, such as one from OpenAI’s CEO, Sam Altman: “AI will probably most likely lead to the end of the world, but in the meantime, there'll be great companies.” And another from OpenAI’s charter, “To build ‘highly autonomous systems that outperform humans at most economically valuable work.’”

On the page dedicated to artists, the site reads: “If you’re one of the millions of artists, musicians, writers, journalists, scholars, or other creatives whose work we’ve stolen to train our AI, we want to thank you. We couldn’t have achieved a $100 billion valuation without all of your hard work, just sitting on the internet for us and our other AI company friends to scrape. Unfortunately for you, financial compensation is out of the question. Just because we’re making money from your copyrighted material doesn’t mean you’re legally entitled to any of it.”

It is satire. It is also accurate. In a submission to the House of Lords, OpenAI admitted, “It would be impossible to train today’s leading AI models without using copyrighted materials.”

The courts are beginning to agree too that something was taken. Well over thirty copyright infringement lawsuits have been filed by creators against AI developers. Visual artists sued Stability AI and Midjourney. Getty Images sued, arguing that over twelve million photographs were scraped without license. The New York Times sued OpenAI. Universal Music filed a $3.1 billion lawsuit against Anthropic in January 2026, alleging its AI was built on a foundation of piracy. None of these cases have reached final verdicts. The legal system is moving at human speed through a problem that was created at machine speed.

What passed through a million years of accumulated human experience—the knowledge handed from mind to mind, generation to generation, the grief and wonder pressed into stories and paintings and films and arguments on the internet at three in the morning—was consumed by hungry algorithms. There was no purchase or licensing. The great ingestion happened in server rooms, while the rest of us were clicking I Agree to ever-lengthening terms and conditions that no one ever bothers to read. And that phase is now over.

Yet predictions for our future keep rolling in, each one confident, and each one contradicting the last. Goldman Sachs estimates AI could replace the equivalent of 300 million full-time jobs. The World Economic Forum projects 92 million jobs displaced by 2030, offset by 170 million new ones created, which is a net gain, on paper at least. Anthropic CEO, Dario Amodei, warns AI could replace half of all entry-level office jobs within five years. Jensen Huang says greater productivity creates more hiring, not less. In 2025 alone, Amazon eliminated 14,000 corporate roles, Microsoft cut 15,000, and Salesforce reduced its customer support workforce by 4,000. Like the billboards in Time Square, both are right, yet neither agree. What the experts ultimately share is uncertainty.

And the AI models are hungry again. This time, media organizations are making sure they require payment from AI giants for their content. New York Times is partnering with Amazon’s AI, Meta with News Corp, and Google with Reddit. But human-made internet content is finite and cannot keep up with the voracious appetite of AI models that do not need time to sleep or metabolise. So the machines have no choice but to prompt themselves, and generate new content upon previous content, with less and less human origin, leading us down a spiral of infinite iteration with less human touch, less human spirit, and less human soul. The only thing the “experts” seem to agree on is that the business potentials are both exhilarating and terrifying.

Meanwhile, Artisan’s billboard promises relief from the burden of human employees. Lower payroll. No sick days. No long hot showers a person needs to feel like a person again. The face on that billboard doesn’t need to ground herself. She doesn’t need anything. What is being sold is not intelligence, but the absence of need. It is a cold world to advertise, and the advertisers seem not to fear the cold.

Two billboards in New York City, and the same ones are popping up in other major cities across the nation. Between them is the argument that is yet to be resolved: whether what is being built is a tool or a replacement, a future or an ending. The experts cannot agree. The lawyers are still filing. The models are still hungry. And somewhere in Times Square, a sad stick figure is still holding his sign, hoping someone walking past will stop long enough to read it.

Tyler Durden Sun, 05/24/2026 - 16:20
Tyler Durden

"Vindictive": Obama-Appointed Judge Dismisses Tennessee Smuggling Charges Against Kilmar Abrego Garcia

Zero Rss
3 weeks 2 days ago
"Vindictive": Obama-Appointed Judge Dismisses Tennessee Smuggling Charges Against Kilmar Abrego Garcia

Authored by Kim Jarrett via The Center Square,

A federal judge dismissed Tennessee charges against a man who, at one time, was at the center of the immigration debate.

Abrego Garcia, who illegally entered the U.S. from El Salvador in 2011, faced federal charges of human smuggling and conspiracy to commit human smuggling.

The charges stemmed from a traffic stop by Tennessee Highway Patrol in December 2022, where Abrego Garcia was found transporting eight passengers across the country.

One of the police officers believed that he was smuggling them, remarking that he was “hauling these people for money,” according to a video obtained by The Center Square through an open records request.

He allegedly did not have a valid driver’s license and was suspected of trafficking the passengers, though he was let go at the FBI’s request.

The car belonged to an illegal immigrant named Jose Ramon Hernandez-Reyes, who was sent to prison in 2020 for human smuggling.

Obama-appointed U.S. District Judge Waverly D. Crenshaw called the charges “vindictive” because Abrego Garcia challenged his deportation to El Salvador. 

“The objective evidence here shows that, absent Abrego’s successful lawsuit challenging his removal to El Salvador, the Government would not have brought this prosecution,” Crenshaw wrote in his order.

“The Executive Branch closed its investigation on the November 2022 traffic stop. Only after Abrego succeeded in vindicating his rights did the Executive Branch reopen that investigation.”

The Trump administration deported Abrego Garcia to El Salvador in March 2025, according to previous reporting from The Center Square.

Prior to that, Abrego Garcia was living in Maryland and had been arrested on suspicion of involvement in MS-13 in 2019, after immigrating illegally to the United States as a teenager with his parents around 2011.

Officials prepared to deport Abrego Garcia then, but an immigration judge granted him “withholding of removal,” believing his life would be in danger if he were returned to El Salvador. 

The Department of Justice did not immediately return a message from The Center Square about the case. 

Tyler Durden Sun, 05/24/2026 - 15:10
Tyler Durden

Feds Subpoena Hasan Piker, CodePink Cofounder Over "Humanitarian" Trip To Communist Cuba

Zero Rss
3 weeks 2 days ago
Feds Subpoena Hasan Piker, CodePink Cofounder Over "Humanitarian" Trip To Communist Cuba

Federal officials have issued "Requests for Information" via Treasury Department subpoenas to Turkish-American millionaire and far-left Twitch streamer Hasan Piker and pro-China CodePink cofounder Susan Medea Benjamin as part of a broader probe into whether the activists violated sanctions laws during a "humanitarian" trip to communist-run Cuba, according to a new Fox News report.

Fox's Asra Q. Nomani, who leads an investigation into dark-money funded NGOs, said the Treasury Department's Office of Foreign Assets Control is examining whether the activists financed, coordinated, or delivered goods to Cuba in ways that crossed legal boundaries under U.S. sanctions.

🚨 The Treasury Department has subpoenaed Hasan Piker and Medea Benjamin as part of a probe into possible Cuba sanctions violations.

Between Hasan’s “wads of cash” and Medea describing thousands of pounds of goods sent to Cuba, it is not hard to see why Treasury has questions. pic.twitter.com/WRhC5PMDmw

— Stu Smith (@thestustustudio) May 24, 2026

Investigators are also examining whether the two met with Cuban government-linked personnel or entities.

Expanding on Nomani's report, a likely line of inquiry is whether Piker, Benjamin, or members of the broader delegation met with Cuban officials or personnel linked to the Dirección General de Inteligencia, Cuba's intelligence service, or the Cuban Institute for Friendship with the Peoples, a regime-aligned organization long used to develop foreign activist networks for overseas statecraft operations.

Nomani's sources said the trip was part of the "Nuestra América Convoy," or "Our America Convoy," involving a global network of communist sympathizers, activists, and influencers who brought supplies to the island.

Well well well…

Marxist Hasan Piker and CodePink Cofounder Susan Medea were subpoenaed about a trip to Cuba.

"Nuestra América Convoy”

Investigated to see if the trip violated US law.

Guess who else was part of the trip?

Isra Hirsi

The Marxist daughter of Ilhan Omar.

Oops! pic.twitter.com/wb3IeHuqu5

— C3 (@C_3C_3) May 24, 2026

 

Nomani noted, "The investigation is part of a broader effort by officials at Treasury, State and Justice departments to curb malign foreign influence operations inside the United States, particularly activities tied to support for political violence, extremist movements or acts the U.S. government classifies as terrorism."

"The scrutiny reflects growing concern among federal authorities and lawmakers over whether foreign actors and aligned organizations are attempting to shape American political discourse, mobilize activists, sow discord and normalize rhetoric that could encourage violence or undermine U.S. national security interests," she continued.

U.S. law imposes broad restrictions on financial transactions involving Cuba, primarily through the Cuban Assets Control Regulations, which are administered by the Treasury Department's OFAC.

The rules generally prohibit unlicensed travel-related transactions and the export of goods or services to Cuba, with limited exceptions for journalism, humanitarian projects, educational programs, and activities intended to support the Cuban people.

One question is whether the March delegation operated within those carveouts, or whether its financing, logistics, coordination, or delivery of supplies crossed into prohibited support for Cuban government-linked entities.

Why Piker, Benjamin, and far-left members of the delegation felt compelled to champion the failed communist country is addressed in a note we penned in late 2025 titled:

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

If you really want to understand why the radical left appears to hate America and seeks to implode the nation from within, it is not difficult to see that these ideas are rarely developed organically. More often, they are shaped and reinforced by outside influences. This chart helps explain why the radical left has become so extreme.

As per The Washington Times, "Cuba's intelligence apparatus is training foreign nationals to wage war against the West."

Why?

The Trump team appears to be shifting from an observation mode to an action phase in its campaign against radical-left nonprofit networks, some of which are supported by foreign adversaries and left-wing billionaires.

The target is increasingly clear: NGOs, activist groups, and influencer networks that push anti-American propaganda, inflammatory political rhetoric, revolutionary agitation, and Marxist ideology while masquerading as anti-war advocates or civil-rights organizers.

If Treasury OFAC subpoenas are any leading indicator, the Trump team may be entering the action phase. That should put the nonprofit world on notice.

Tyler Durden Sun, 05/24/2026 - 14:35
Tyler Durden

Resident Floats Surefire Way Of Getting Potholes And Trash Cleaned Up In Shithole LA...

Zero Rss
3 weeks 2 days ago
Resident Floats Surefire Way Of Getting Potholes And Trash Cleaned Up In Shithole LA...

Authored by Steve Watson via Modernity.news,

Los Angeles residents have had enough of living in a crumbling, graffiti-covered wasteland where basic services have collapsed under years of Democrat mismanagement.

In a display of pure ingenuity, citizens are fighting back by tagging over blighted areas with "Vote Pratt," betting that Mayor Karen Bass will rush to erase any sign of support for her political rival far faster than she addresses the endless decay.

This clever workaround shines a harsh light on the priorities in a city drowning in filth, where open drug markets and rat-infested encampments flourish while taxpayers foot the bill for billions in ineffective "solutions."

Not AI. pic.twitter.com/jUJhkGnjo7

- Thomas Hawk (@thomashawk) May 24, 2026

pic.twitter.com/mLQhnVnWQS

- Make L.A. Great Again ?? (@lalovestrump) May 23, 2026

The idea took off after one resident pointed out the obvious: if neighborhoods are blanketed in graffiti that the city ignores, simply spray "Vote Pratt" over it and watch the cleanup crews mobilize within minutes.

One post noted, "This could possibly do the trick," while others highlighted how quickly political messaging gets scrubbed compared to everyday blight.

I just took this photo today at Runyon Canyon ? "Spencer Pratt for Mayor" had been covered up a few time but someone just writes it again. pic.twitter.com/jjZyFe0y8n

- Freddie Corso ? (@freddiecorso) May 24, 2026

Videos and images circulating on X show the extent of the problem and the creative response, with AI-generated visuals encouraging more residents to test the theory.

pic.twitter.com/uPZDmJ1Gp9

- D Scott Dorgan (@DScottDorgan) May 23, 2026

The same tactic could target potholes, now mockingly dubbed "Bass-holes" due to the mayor's reluctance to release funds for basic road repairs.

pic.twitter.com/pV9OAhoUJJ

- HowlingPeterman (parody) (@JacoboPeterman) May 23, 2026

? Great idea! pic.twitter.com/kYYy3IXVlZ

- Oddland66 ?? (@Oddland66) May 23, 2026

The citizen hack represents more than a workaround - it exposes the deep dysfunction where political optics trump governance. In a city blessed with resources and climate, decades of open-border-friendly policies, soft-on-crime approaches, and unchecked spending have produced predictable decay.

This grassroots push to elect Pratt comes as no surprise to anyone following LA's descent. Just days ago, reports painted a grim picture of massive homeless encampments overrun by rats, open-air drug markets operating brazenly near police stations, and public spaces rendered unusable by tents, trash, and crime.

Helicopter footage has captured post offices swallowed by encampments, blocking mail access and parking. Residents describe navigating urine-soaked doorways blocked by belongings just to enter their own apartments, with police unwilling or unable to intervene under current policies.

Despite California dumping an estimated $24 billion into homelessness programs between 2018 and 2023 - with LA spending hundreds of millions annually - the results are nonexistent. The county reports around 72,000 homeless individuals, many unsheltered, with over half originating from out of state, according to critics of the system.

One man who moved to California openly admitted the appeal: easy access to food stamps, cash assistance, and a lifestyle where "they pay you to be homeless." These incentives have created what detractors call a Homeless Industrial Complex - a self-perpetuating system of nonprofits and bureaucrats motivated to manage the crisis rather than solve it.

EXPOSED ? California Democrats are paying people to be homeless

Homeless man moved across country to California to be homeless

"How long you been in San Francisco?"

Homeless man "Since June. If you're gonna be homeless, it's pretty f*cking easy here. I mean, if we're gonna be... pic.twitter.com/X7j9ut09pm

- Wall Street Apes (@WallStreetApes) May 20, 2026

Mayor Karen Bass has come under fire for broken promises to end street homelessness. When confronted on CNN about missed targets, she cited unanticipated "bureaucratic barriers." In another exchange, she advised residents not to trust their own eyes but official statistics instead, despite visible evidence to the contrary.

? LMAO! CNN brutally rips Karen Bass for the homeless crisis in Los Angeles.

CNN: "Your goal was to end street homelessness in LA by 2026. It's now 2026. We haven't ended it, and we're not close. How are you so off?"

BASS: "When I said that...I didn't realize the bureaucratic... pic.twitter.com/DD3fJcKQu6

- The Patriot Oasis™ (@ThePatriotOasis) May 20, 2026

Enter Spencer Pratt, the mayoral candidate whose name is now central to this cleanup hack. Pratt has called for a no-nonsense approach: a short grace period after taking office followed by mass enforcement against crime, open drug use, and disorder. He has emphasized clearing streets and involving homeless individuals directly in cleanup efforts rather than feeding another layer of bureaucracy.

? JUST IN: LA mayoral candidate Spencer Pratt announces Los Angeles criminals and homeless degenerates will have 2-3 WEEKS after he gets into office before MASS ARRESTS ensue

"First 3 weeks: signups, no nakedness, no drug use, no robbing, no dog abuse."

Love this guy MORE AND... pic.twitter.com/exoqW3j28e

- Eric Daugherty (@EricLDaugh) May 10, 2026

Real change requires rejecting the failed ideologies that enabled this mess: endless tolerance for lawlessness, incentives that import problems, and a bureaucracy that thrives on failure.

Tyler Durden Sun, 05/24/2026 - 14:00
Tyler Durden

Trump Bats Down Critics As Iran Deal Gets Close: 'Exact Opposite' Of 'Amateur' Obama JCPOA

Zero Rss
3 weeks 2 days ago
Trump Bats Down Critics As Iran Deal Gets Close: 'Exact Opposite' Of 'Amateur' Obama JCPOA

Update(1345ET): Both sides are continuing to be mostly tight-lipped in terms of offering confirmation of what precisely is in the deal, with President Trump having earlier said he's in no hurry. But this weekend contains some of the most positive momentum towards an actual peace deal and extended ceasefire to date. Per some of the latest from NYT:

Iran’s leaders or official state media have not publicly commented on what is in any potential agreement or what is being discussed. Over the last 24 hours, Iranian and U.S. officials have offered some conflicting depictions of what a deal might contain. On Sunday, the U.S. official said a deal had not yet been signed and was still subject to final approval from President Trump and Iran’s supreme leader, which could take days.

The senior U.S. official said the mechanism by which Iran would dispose of its highly enriched uranium was still being negotiated. Mr. Trump has insisted that the United States seize the material as part of his vow to curb Iran’s nuclear program.

Mr. Trump said in a social media post earlier on Sunday that he had ordered his negotiators “not to rush into a deal,” after saying a day earlier that a preliminary agreement between the two countries was “largely negotiated.”

But Trump is catching some political heat both at home and in Israel, for potentially agreeing to a deal which cedes too much ground to Tehran - or at least that's the growing criticism of the hawks. He issued the below Truth Social on Sunday, seeking to bat down this criticism, and once again asserting his deal will the the EXACT OPPOSITE of Obama's JCPOA. But time will soon tell...

Trump also shared this statement from Fox's correspondent. Tehran has remained insistent that it will never transport its enriched uranium outside it borders:

Not quite yet at the goal line, per Reuters:

Iranian media: There is still a possibility of canceling the agreement due to Washington's obstruction of some clauses

— First Squawk (@FirstSquawk) May 24, 2026

*  *  *

Top U.S. and Iranian officials signaled they are inching closer to an initial peace deal to wind down the U.S.-Iran conflict and reopen the Strait of Hormuz, though major details remain murky, especially around the future of Iran's nuclear program.

President Trump said the peace deal has been "largely negotiated" and will be announced "shortly," with the reopening of the Hormuz chokepoint among its key components.

🚨 "An Agreement has been largely negotiated, subject to finalization between the United States of America, the Islamic Republic of Iran, and the various other Countries, as listed..." - President Donald J. Trump pic.twitter.com/Z49bOkkUoh

— The White House (@WhiteHouse) May 23, 2026

Secretary of State Marco Rubio said earlier that "significant progress" has been made, but no final deal has been reached.

Rubio added that the world could learn "over the next few hours" about progress on resolving the shipping disruption at the Hormuz chokepoint.

Secretary of State Marco Rubio cited 'significant' progress in the past 48 hours toward a deal with Iran that could help resolve the situation around the Strait of Hormuz https://t.co/AgaPjulhKo pic.twitter.com/QwFObVmuhv

— Reuters (@Reuters) May 24, 2026

The proposed deal aims to reopen Hormuz, end or pause fighting across multiple fronts, and restart tanker flows through the strait, as the world is dangerously close to an energy cliff. If disrupted for another month, this could spark even more severe economic trouble for the global economy.

Iranian officials said the deal would also lift the U.S. naval blockade, halt fighting involving Israel and Hezbollah, reopen Hormuz without tolls, and release $25 billion in frozen Iranian assets.

The biggest unresolved issue is Iran's nuclear program. U.S. officials said the framework includes a commitment by Tehran to give up enriched uranium, though the mechanism for that commitment would be negotiated later.

However, Iran's semi-official Fars news agency dismissed Trump's claim of an imminent deal as "far from reality."

Fars reported that, under the latest text exchanged, management of Hormuz would "remain exclusively under the authority and discretion of the Islamic Republic of Iran" if a deal is reached.

Earlier, Fars reported that Iran's nuclear program, blocked funds, and the status of Hormuz remained "serious points of disagreement" in talks with the U.S.

Iran had indicated that a final draft of the deal was under review.

Iranian state television cited Foreign Ministry spokesman Esmail Baghaei as saying, "Over the past week, the process has been moving toward a convergence of views."

Latest Headline Round-Up

Peace Deal Progress

  • Trump said Saturday that a peace deal with Iran has been 'largely negotiated' and he plans to announce an agreement shortly that would reopen the Strait of Hormuz.

  • Secretary of State Marco Rubio said Sunday there may be 'some good news' regarding the blocked Strait of Hormuz in the coming hours

  • Pakistan's military cited 'encouraging progress towards a final understanding' after intensive negotiations over the last 24 hours

  • Iran and the US are still at odds over 'one or two provisions' of a potential peace agreement, according to Tasnim news agency

Peace Deal Terms

  • The agreement involves a 60-day ceasefire extension during which the Strait of Hormuz would be reopened, and Iran would be able to freely sell oil, according to a U.S. official

  • A draft agreement stipulates that the US and its allies commit not to attack Iran or its allies under any circumstances, with Iran making a similar commitment, according to Fars news agency

  • Iran's nuclear program, blocked funds and the status of the Strait of Hormuz are 'serious points of disagreement' in talks, according to Fars News

Regional Involvement

  • Several Arab nations joined Pakistan in trying to push for a resolution to the Iran war as they urged Trump to allow more time for negotiations

  • Pakistan's Prime Minister congratulated Trump on his 'extraordinary efforts to pursue peace' after a phone call involving leaders of Saudi Arabia, Qatar, Turkey, Egypt, the UAE, Jordan and Pakistan

  • President Trump's Iran deal will ensure the US military stays in the region for at least the next 30 days, per Fox News.

Macro Impact

  • US forces have redirected 100 commercial vessels during its six-week-long blockade of Iran's ports, according to Central Command

  • A liquefied natural gas tanker carrying a shipment for India has exited the Strait of Hormuz for the first time since the Iran war began months ago

  • The European Central Bank is heading for an interest-rate increase next month unless a sustainable peace deal between the US and Iran can be found, according to the ECB's Martin Kocher

Polymarket

Odds of Hormuz traffic returning to normal by the end of June stand at 61%.

//--> //--> Strait of Hormuz traffic returns to normal by end of June?
Yes 62% · No 39%
View full market & trade on Polymarket

The US-Iran permanent peace deal, as of May 26, stands at 35%.

//--> //--> US x Iran permanent peace deal by May 26, 2026?
Yes 35% · No 65%
View full market & trade on Polymarket

WTI and Brent crude oil prices crashed on Hyperliquid (via Augur Infinity):

S&P500 soars on Hyperliquid (via Augur Infinity):

Bitcoin's chart continues to trend higher, with price action on an "up and to the right" trajectory.

Must Reads:

  • If Iran Imposes A Permanent Toll On Hormuz, Who Will Start Charging Next: Deep Dive Inside The World's Oil Chokepoints

  • Hormuz Shock Raises Recession Risk As Retailers Sound Alarm On Consumer Stress

Why the US needed an urgent peace deal, as explained by UBS:

  • UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry

Friday's US-Iran Wrap

  • Iran Says 'No Deal' Will Materialize If US Insists On Enriched Uranium Handover

Saturday's US-Iran Wrap

  • Israel Unleashes New Gaza Strikes Soon After Trump Says Iran Peace Deal 'Largely Negotiated,' Hormuz To Reopen As Final Terms Discussed

Professional subscribers can review the latest institutional reads on Iran, the Hormuz Strait, energy markets, and more on our new Marketdesk.ai portal.

Tyler Durden Sun, 05/24/2026 - 13:45
Tyler Durden

Suicide Bomb Attack On Train In Pakistan Kills At Least 30, Over 100 Wounded

Zero Rss
3 weeks 2 days ago
Suicide Bomb Attack On Train In Pakistan Kills At Least 30, Over 100 Wounded

A massive suicide car bomb attack blew up and derailed a train transporting security personnel in Quetta, the provincial capital of Balochistan.

The blast ripped through the train passenger cars, killing at least 30 people and leaving more than 100 others wounded, with the casualty count expected to rise as rescuers dig through the twisted metal.

via AFP

The Balochistan Liberation Army (BLA), a separatist group operating in the mineral-rich region, immediately claimed responsibility for Sunday's coordinated strike.

Local officials and police told international outlets that at least three coaches and the engine had derailed after the explosion. Security forces have cordoned off the whole area amid ongoing search and rescue efforts.

The completely overturned and were immediately engulfed in massive flames. Authorities have condemned the heinous act of terrorism.

Soon after the attack, Pakistani Prime Minister Shehbaz Sharif took to X to condemn the carnage: "Such cowardly acts of terrorism cannot weaken the resolve of the people of Pakistan," Sharif stated.

"We remain steadfast in our determination to eliminate terrorism in all its forms and manifestations," he added.

While Islamabad promises total elimination of the threat, the reality on the ground has long been of an insurgency capable of hitting high-value military logistics lines at will.

One source said that the "The blast occurred near a railway track as a train carrying Pakistani security personnel and civilians was travelling near Quetta’s cantonment area, according to officials and media reports." And so it seems the terror group knew that large numbers of military and security personnel would be coming through.

Over a year ago, there was a major hijacking of a train carrying 346 passengers in the same region, in March 2025. That attack resulted in the deaths of at least 21 passengers and at least four Pakistani soldiers involved in the security response.

Death toll expected to climb:

A suicide attack in Quetta, Pakistan, has killed at least 34 people and injured 82 others. The blast struck a train, with gunfire heard nearby. Vehicles were damaged and windows of surrounding buildings were shattered. pic.twitter.com/1Rcu0cc7Mu

— World Source News (@Worldsource24) May 24, 2026

As we've featured before, the Baloch Conflict owes its origins to Balochistan’s contentious incorporation into Pakistan but has evolved in recent years to take on shades of "resource nationalism". What’s meant by this is that some locals believe that their resource-rich region, the largest in Pakistan at nearly half the country’s size, isn’t receiving its fair share of wealth.

The BLA and its supporters also accuse Pakistan of selling the region out to China. Pakistan denies these claims and has always blamed Afghanistan and India for the conflict.

Tyler Durden Sun, 05/24/2026 - 13:25
Tyler Durden

UAE State Oil Company Head Says Hormuz Bypass Pipeline Nearly 50 Percent Complete

Zero Rss
3 weeks 2 days ago
UAE State Oil Company Head Says Hormuz Bypass Pipeline Nearly 50 Percent Complete

Authored by Evgenia Filimianova via The Epoch Times (emphasis ours),

The head of the UAE's state oil company said on May 20 that a major new oil pipeline designed to bypass the Strait of Hormuz is nearly 50 percent complete, as regional tensions and competing maritime controls reshape global energy routes.

UAE Minister of Industry and Advanced Technology Sultan Ahmed Al Jaber, who's also the managing director and group CEO of the Abu Dhabi National Oil Company, speaks via video during a presentation at the 44th annual CERAWeek by S&P Global conference at the Americas Hilton-Houston in Texas on March 23, 2026. CERAWeek by S&P Global

Sultan Ahmed Al Jaber, chief executive of the Abu Dhabi National Oil Company, said during an interview at the Atlantic Council that the project is being accelerated toward a planned 2027 completion date.

"Right now, too much of the world's energy still moves through too few choke points," Al Jaber said. "That is exactly why the UAE made the decision more than a decade ago to invest in infrastructure that bypasses the Strait of Hormuz."

Al Jaber said the UAE's second west-east pipeline is already "almost 50 percent complete."

The project comes as the Strait of Hormuz remains disrupted following months of conflict involving Iran, Israel, and the United States.

The UAE said last week that it would accelerate construction of the pipeline to expand export capacity through Fujairah, a port city on the Gulf of Oman outside the Strait of Hormuz.

The country's existing Abu Dhabi Crude Oil Pipeline, also known as the Habshan-Fujairah pipeline, already allows the UAE to bypass Hormuz for a portion of its exports.

The new project is expected to significantly expand that capacity.

Al Jaber warned that global energy systems remain vulnerable because too much oil and gas infrastructure depends on narrow maritime chokepoints.

"Energy security is no longer just about your ability to continue to produce," he said. "It is about routes, access, storage, and redundancy."

He said global spare oil production capacity remains dangerously low while energy storage levels continue falling.

"In just two months, the world drew down around 250 million barrels from storage," Al Jaber said. "We have 30 to 35 days of effective cover. We need to at least double that."

The comments followed warnings from the International Energy Agency (IEA) that oil markets could enter a "red zone" this summer if disruptions in the Strait of Hormuz continue.

IEA Executive Director Fatih Birol said on May 21 that more than 14 million barrels of oil per day had been removed from global markets because of infrastructure damage and restrictions linked to the conflict.

UAE Moves Beyond OPEC

The pipeline expansion also comes weeks after the UAE formally exited OPEC and the broader OPEC+ alliance.

The UAE announced on April 28 that it would leave the organization effective May 1, describing the move as a "sovereign responsibility in a new energy age."

Al Jaber said the decision would give the UAE greater flexibility to expand production and invest globally.

"Ultimately, real strength is not measured by the abundance of resources, but by how they are harnessed to serve the nation," he said.

The UAE said ongoing instability in the Persian Gulf and the Strait of Hormuz influenced the decision.

"Outside OPEC, the UAE will remain what it has always been, a disciplined, responsible, credible, reliable, and a stabilizing force in the global energy markets," said Al Jaber.

He also described relations between the UAE and the United States as increasingly integrated across energy, infrastructure, defense, and technology sectors.

Iran Expands Strait Oversight

The pipeline expansion coincides with Iran's efforts to formalize oversight of maritime traffic through the Strait of Hormuz.

Iran announced in May the creation of the Persian Gulf Strait Authority, or PGSA, a new body tasked with supervising transit through the waterway and coordinating shipping permissions inside Iranian-designated control zones.

The PGSA said on May 20 that Iran had defined a maritime supervision area stretching from Kuh Mobarak in southeastern Iran to the southern coast of Fujairah in the UAE on the eastern side of the strait, and from Qeshm Island to Umm al-Quwain in the UAE on the western side.

The authority also said vessels operating within that area must coordinate transit frequencies and obtain permits from Iranian authorities before crossing the waterway.

Iranian Ambassador to France Mohammad Amin Nejad told Bloomberg on May 21 that Tehran and Oman are discussing a permanent tolling system for the strait.

Zones Of Control

The Iranian supervision zone appears to overlap at least partially with areas where U.S. naval forces are operating under Washington's blockade targeting Iranian ports.

U.S. Central Command said in an April 12 statement that American forces would blockade vessels entering or leaving Iranian ports beginning April 13.

It said the blockade applies to ships traveling to or from Iranian ports in both the Arabian Gulf and Gulf of Oman, while stating that U.S. forces would "not impede freedom of navigation" for vessels transiting the Strait of Hormuz to non-Iranian destinations.

Iran's newly declared PGSA supervision zone covers much of the same shipping corridor through which U.S. naval forces monitor and intercept commercial traffic linked to Iranian ports.

U.S. Secretary of State Marco Rubio said on May 21 that an Iranian tolling system would be unacceptable and warned it could derail negotiations between Washington and Tehran.

"It would make a diplomatic deal unfeasible," Rubio told reporters before departing for NATO meetings in Sweden.

Rubio described the proposed toll system as a "threat to the world" and "completely illegal."

Rubio said after meeting with NATO Secretary-General Mark Rutte in Helsingborg, Sweden, on May 22 that Western allies hope to reach an agreement with Iran that would reopen the Strait of Hormuz and curb Tehran's nuclear ambitions.

He warned, however, that governments also need contingency plans if Iran refuses to restore maritime access.

Rubio said that if Iran continues restricting passage or threatens vessels that refuse to comply with Iranian demands, "something has to be done about it."

Several countries represented at the NATO meeting, he said, would be even more affected by prolonged disruption in the Strait of Hormuz than the United States because of their dependence on Middle Eastern energy supplies.

Rubio added that NATO members must begin preparing for scenarios in which "Iran decides, 'We don't care, we're going to keep the Straits closed.'"

Motorists drive past an ADNOC Gas subsidiary of the Abu Dhabi National Oil Company facility in Abu Dhabi, United Arab Emirates, on March 3, 2026. Ryan Lim/AFP via Getty Images Tyler Durden Sun, 05/24/2026 - 12:50
Tyler Durden

Zombie Home Foreclosure Numbers Increase In 38 US States

Zero Rss
3 weeks 2 days ago
Zombie Home Foreclosure Numbers Increase In 38 US States

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

The number of residential zombie foreclosures in the second quarter of 2026 marginally increased from the previous quarter, with such foreclosures rising in the District of Columbia and 38 out of the 50 U.S. states, real estate analytics company ATTOM said in a May 21 statement.

Homes in Huntington Beach, Calif., on July 12, 2024. John Fredricks/The Epoch Times

"Out of the country's 104.9 million residential properties, 245,376 were in the foreclosure process in the second quarter. Of those, 8,312 properties, or 3.4 percent, were 'zombies,' meaning the owners had abandoned the properties before the end of their foreclosure proceedings," ATTOM said. "The second quarter zombie rate was slightly higher than the 3.3 percent rate posted in the first quarter."

Among states with at least 100 zombie residences, Georgia recorded the largest quarter-over-quarter increase, with the number of such properties rising by 98 percent. Zombie foreclosures rose by 67.2 percent in North Carolina, 42 percent in Indiana, 35.5 percent in Iowa, and 15.4 percent in South Carolina.

In states with at least 50 zombie homes, only two saw a dip in such properties in the second quarter - Washington and New York, which declined by 13.1 percent and 2.2 percent, respectively.

A zombie foreclosure typically happens when a homeowner receives a pending foreclosure notice and decides to leave the home before the legally required exit date, leaving the home vacant.

As long as the foreclosure is not completed, the owner continues to be the title holder of the property. The owner can usually pay a lump sum to the lender and pull the property out of foreclosure.

However, if the lump sum is not paid, the property will end up with the lender. Following this stage, the homeowner has to leave the place when the lender requires them to.

ATTOM's analysis of 138 metropolitan statistical areas with at least 100,000 residential properties and at least 100 properties in the foreclosure process showed that Cedar Rapids, Iowa, had the highest share of properties in zombie status at 13.2 percent.

This was followed by Wichita, Kansas, at 12.9 percent; Youngstown, Ohio, with 11.4 percent; and Cleveland and Akron, both in Ohio, at more than 10 percent each.

ATTOM's data also showed that almost 1.4 million homes in the United States were vacant in the second quarter, which represents 1.3 percent of America's residential properties.

"The increase in zombie foreclosures across most states may reflect a foreclosure market that is slowly returning to more normalized levels," Rob Barber, CEO of ATTOM, said.

"At the same time, overall vacancy rates remain relatively steady nationwide, while zombie foreclosures still represent only a small share of homes in the foreclosure process."

According to a Jan. 18 post by Rocket Mortgage, the owner of a zombie property under foreclosure will still be responsible for bills.

For instance, the owners must pay property taxes, failing which they could face a tax lien. Homeowners' association fees must be paid; failing which, the association could file a lawsuit. Similarly, bills for trash removal, maintenance, and other services should be paid as well.

The owner's credit score could get negatively hit, potentially impacting their ability to secure loans in the future.

"The best way to steer clear of a zombie foreclosure is to stay current on mortgage payments. During the mandated waiting period after you receive a foreclosure notice, you can put a halt to foreclosure by paying a large lump sum," the post said.

"Also, a deed-in-lieu agreement can sometimes prevent foreclosure even after the process has started. This is when you turn ownership of your home over to the lender to avoid foreclosure."

Meanwhile, mortgage delinquency is rising in several states, according to a May 21 statement by financial services company WalletHub.

The findings are based on mortgage data from the fourth quarter of 2025 to the first quarter of 2026. During this period, the average number of delinquent mortgages rose by 12.32 percent in Vermont. This was followed by Delaware, with a 6.92 percent jump, and Louisiana, with a 4.4 percent rise.

"If you are delinquent on mortgage debt, you typically have until the debt is 30 days past-due, meaning you have missed two payments, in order to get current. After that, the lender will report the delinquency to the credit bureaus, which will damage your credit score," Chip Lupo, analyst at WalletHub, said.

"Therefore, it's important to try to get current on your debt as quickly as possible. If you are experiencing financial difficulty that prevents you from paying, ask your lender if they will allow temporary forbearance until you get back on your feet, which may prevent you from being reported as delinquent."

Tyler Durden Sun, 05/24/2026 - 11:40
Tyler Durden

Russia Hammers Kiev With Massive Barrage, Likely Including Oreshnik Hypersonic IRBMs

Zero Rss
3 weeks 2 days ago
Russia Hammers Kiev With Massive Barrage, Likely Including Oreshnik Hypersonic IRBMs

Less than two days after President Vladimir Putin vowed revenge for a Ukrainian strike that hit a secondary-school dormitory in the Russian-controlled Luhansk oblast, Russia unleashed a massive, multi-weapon barrage on Kiev early Sunday, one that apparently included the rare use of Oreshnik hypersonic ballistic missiles.

Private videos show clusters of bright objects at supersonic speed descending from the sky near Kiev May 24, 2026. They claim to be Russia’s intermediate-range hypersonic Oreshnik system. Moscow has not officially confirmed the use.
The footage resembles videos that circulated… pic.twitter.com/lSDg8iydzX

— T. Sassersson, Editor@NewsVoice (@newsvoicemag) May 24, 2026

While authorities are still sorting through the wreckage, they say at least one person was killed in the blitz that started a 1 am and continued into the early morning light, when a nine-story residential building was hit. Others were trapped in an air raid shelter, its door having been buried in debris. At least 20 people were injured. Many videos purporting to capture the attack and its aftermath assault are circulating on social media: 

First video via https://t.co/qJDAGuNQMrhttps://t.co/3cfZgiWUgt

Cherkasy, just down the Dnieper from Kyiv, saw major damage from a Russian drone raid, with a 9-story apartment building hit by a Russian Shahed attack drone. pic.twitter.com/kCnVIgXXRj

— OSINTtechnical (@Osinttechnical) May 24, 2026

AMK Mapping, a pro-Ukraine account that chronicles the war on X, described the Russian attack on Kiev as "enormous," saying it included hundreds of Geran-2 drones, at least 20 Iskander-M ballistic missiles, 12 Kh-101 cruise missiles, 6 Kalibr cruise missiles, 4 Zircon hypersonic cruise missiles and 2 Oreshnik intermediate range ballistic missiles (IRBMs). Putin has hailed the Oreshnik as un-interceptable, as it reportedly travels at more than 10 times the speed of sound. 

Everyone’s counting missiles. The interesting part is the variety. Ballistic, cruise, hypersonic, IRBM, and drones converging in one window is a deliberate saturation profile, forcing the air defense to solve too many different problems at the same time. Mixing an Oreshnik IRBM…

— DSG Strategic Services (@DSGStratServ) May 24, 2026

This video is said to show an industrial facility -- some are describing it as an arms factory -- near Kiev: 

🇷🇺🇺🇦🔥 more scenes of the insanely huge fires engulfing industrial zones and infrastructure around Kiev. The largest combined hypersonic, ballistic, cruise missile and drone attack on Kiev of the war. https://t.co/6G4RHJiCHG pic.twitter.com/oIQ5F2bjl6

— THE ISLANDER (@IslanderWORLD) May 24, 2026

On Friday, Putin accused Ukraine's "neo-Nazi regime" of intentionally targeting civilians in a "terrorist" overnight drone attack that struck a school for 14- to 18-year-olds in the Luhansk oblast. Donetsk and Luhansk together comprise the Donbas region that Russia has been battling to wrest from Ukraine since February 2022. The death toll has mounted, with Russia now saying 18 people were killed when the dormitory was struck. Ukraine claims it was targeting a drone command unit. 

Footage showing the moment of a Russian Iskander-K cruise missile impact in Kyiv this morning.

Smoke from an earlier impact is also visible. pic.twitter.com/H6vRy5W7fC

— AMK Mapping 🇳🇿 (@AMK_Mapping_) May 24, 2026

Hours ahead of Russia's huge attack, Ukrainian President Volodymyr Zelensky used social media to warn that an Oreshnik assault was in the works, citing intelligence received from American and European partners. He also said the use of such formidable weapons shouldn't be tolerated by other countries: 

"The use of such weapons and the prolongation of this war...sets a global precedent for other potential aggressors. If Russia is allowed to destroy lives on such a scale, then no agreement will restrain other similar hatred-based regimes from aggression and strikes. We count on a response from the world – and on a response that is not post factum, but preventive. Pressure must be put on Moscow so that it does not expand the war." 

Russia carried out a massive air attack on Ukraine's capital, Kyiv, overnight, hitting dozens of targets, including multiple apartment buildings.

Seen here, a local resident films a Russian missile barely miss his building. pic.twitter.com/elstIJL2lR

— OSINTtechnical (@Osinttechnical) May 24, 2026

On Friday, Russia's UN ambassador said the dormitory horror meant that Ukraine was incapable of being negotiated with. "This clearly confirms the treachery and non-negotiability of Kiev, which, with the encouragement of its Western sponsors, is not only not committed to a peaceful settlement, but also openly sabotages it," Vassily Nebenzia told a meeting of the UN Security Council. "This deliberate attack on a civilian facility where children study and live, carried out at night when the dormitory was full, was clearly carried out with the aim of maximizing the number of victims." 

In 2024, President Trump assured voters that he'd bring an end to the war in Ukraine before he even took office. With hopes brimming that his Iran folly will soon be behind him, maybe -- despite Nebenzia's proclamation -- Trump can now push for a negotiated end to this one too.  

Tyler Durden Sun, 05/24/2026 - 11:05
Tyler Durden

The Replacements: How US Helps Foreign Workers Take American Jobs

Zero Rss
3 weeks 2 days ago
The Replacements: How US Helps Foreign Workers Take American Jobs

Authored by Steven Edginton via RealClearInvestigations,

Mary, a veteran Silicon Valley marketer who can't find a job, considers herself a victim of an H-1B visa program run amok.

Her story, a U.S. native replaced by a foreign-born employee who is willing to work at a significantly lower wage, has become commonplace, particularly in the tech industry. Adding insult to injury, she says, her CEO, who hails from India, told her to train the man he selected to replace her before laying her off.

Despite stints at Google and Cisco and two years of job hunting, Mary can no longer compete in a job market saturated with foreign-born H-1B visa holders. "I had experience. I should have walked right into these corporate jobs, but I didn't. Why? Because Silicon Valley is flooded with people who work for two-thirds of the price, or even half price," said Mary, who asked to be identified only by her first name.

U.S. tech workers like Mary are at the center of a battle brewing in Washington, D.C., over reforming the troubled H-1B visa program, which is designed to fill highly skilled positions when qualified American workers can't be found. The controversy pits tough-on-immigration Republicans and some Democrats against the most formidable of opponents - Big Tech, the primary beneficiary of a program considered by critics to be little more than a pipeline of cheap labor.

In the last few decades, the California dream has gone global as U.S. tech firms have filled their ranks and C-suites with employees born abroad. Intel is no longer the company of its founders, Robert Noyce and Gordon Moore, but of Malaysian-born Lip-Bu Tan, its CEO since March 2025. Microsoft is led by Satya Nadella; Alphabet Inc. by Sundar Pichai; Adobe by Shantanu Narayen; IBM by Arvind Krishna; YouTube by Neal Mohan; and T-Mobile US by Srinivas Gopalan - all of whom were born in India.

All told, a remarkable two-thirds of the Valley's nearly 400,000 tech jobs are now held by those born abroad, according to a 2025 report from the think tank Joint Venture Silicon Valley. Today, more tech workers were born in India (23%) and China (18%) combined than in the U.S. (34%).

Low-Cost Talent

The influx of low-cost Asian talent has clearly helped fuel profits in one of America's most influential sectors. But there is a downside to this tech boom - the sidelining of U.S. workers thanks to the H-1B visa program that's no longer working as intended. Created in 1990, the federal program has morphed into a vehicle for employers, particularly in the nation's tech centers, to recruit much cheaper foreign labor at the expense of U.S. tech workers, according to Harvard economist George J. Borjas.

While the H-1B program spans multiple industries, it's overwhelmingly concentrated in tech. Last year, Amazon, Meta, Microsoft, Tata Consultancy, and Google were the biggest visa users, with Amazon alone recording more than 13,000 applications. These companies find the savings from hiring foreign workers hard to resist. The job of software developer, for instance, accounts for 38% of all H-1B visa workers, according to a 2026 paper by Borjas. And these foreign software developers earn about 30% less than their U.S. counterparts, the economist estimates.

Since many of these tech jobs pay six figures, the savings quickly add up. Borjas estimates that companies, on average, save nearly $100,000 per worker over six years by hiring an H-1B worker rather than an American. The arrangement "redistributes wealth from those who compete with immigrants to those who use immigrants," Borjas wrote in 2016. That, in turn, helps account for the soaring stock prices of Big Tech since the 2008 financial crash.

False Rationale

The vaguely written H-1B law has been easy for companies to exploit. Hassan Abdullah, an immigration attorney and H-1B advocate, said the supposed congressional basis of the law - to fill highly skilled jobs with foreigners if Americans aren't available - has always been a fiction. "The regulations don't necessarily say that," said Abdullah, who helps companies get the visas. "Throughout all my years, I've never had to even consider that as a factor."

One of the most glaring weaknesses of the law, critics say, is that most companies applying for these visas are not required to demonstrate that they were unable to find qualified American workers. Only companies with more than 15% of their workforce on H-1Bs must make small efforts to recruit U.S. citizens, such as publicly announcing open positions.

Companies are required to pay foreign workers at least the "prevailing wage" for the occupation and region, a provision that should theoretically reduce the incentive to hire employees from Asia. But the process relies on self-reporting and has been easy to manipulate because salaries are calculated using broad regional averages that often fail to reflect real market wages in the technology sector.

As a result, the number of H-1B visa workers has skyrocketed. When an annual cap of 85,000 new visas is combined with renewals, 2025 was a banner year with 406,348 approved visas, according to the U.S. Citizenship and Immigration Services (USCIS). Seventy percent of those visas were issued to Indians. That compares with a total of 275,317 visa approvals in 2015.

Missouri Sen. Eric Schmitt, who's part of the MAGA wing of the GOP, reacted to these numbers on X, calling the program "a national security nightmare. Enough. No more flooding the market with 400k+ H-1B visas while our people and our sovereignty gets screwed."

With criticism of the visas dovetailing with broader anti-immigration sentiments, the Trump administration has made the most serious move yet to restrict the program. Six months ago, the USCIS announced a new $100,000 fee that companies must pay per new H-1B worker living outside the U.S. While official figures have not yet been released, some immigration experts estimate that the fee may lead to a 30% to 50% decline in new visa applications.

"This is the first year we have not filed any H-1B visas for people outside the U.S. because tech companies don't want to pay the $100,000 fee," said immigration attorney Navdeep Meamber, who is based in Silicon Valley.

But companies have found a workaround. Meamber said she has seen an uptick in the number of clients filing for the visas for workers already in the U.S., particularly those such as students who transferred from other visa types to H-1Bs.

"The $100,000 fee is not reducing the numbers because foreign students, especially those who get on the Optional Practical Training program, can move into the H-1B pipeline without paying that fee," said attorney Rosemary Jenks, a campaigner for immigration reform with the Immigration Accountability Project. "So there are still plenty of H-1B visas being issued every year."

American Ingenuity

Silicon Valley wasn't always dominated by foreigners. Some claim the true birthplace of Silicon Valley can be found in a garage at 367 Addison Avenue in Palo Alto. It was there that David Packard, a native of Colorado, and Bill Hewlett of Michigan founded Hewlett-Packard in 1939. Robert Noyce, a native son of Iowa and co-inventor of the integrated circuit, critically made from silicon, gave name to the valley after the substance. With his colleague, Gordon Moore of San Francisco, they founded Intel in 1968.

Throughout the post-war years, America's booming tech industry was largely pioneered by natives. By the 1980s, however, concerns were raised about the dwindling number of young people available to fill STEM (Science, Technology, Engineering, and Math) jobs in the future. Erich Bloch, director of the National Science Foundation, told the American Council on Education in 1985: "The pool of potential students from U.S. schools will become smaller. Demographic projections, of which you are all aware, show the number of 18-to-24-year-olds declining by about 20% over the next decade."

The 1990 Immigration Act, signed by George H. W. Bush, created the H-1B visa, a temporary work visa lasting a few years aimed at filling the labor shortages Bloch had warned about. Since then, as in many industries, tech firms have sometimes struggled to find employees, particularly specialized engineers, during times of rapid growth. But whether the industry faces a persistent shortage of American workers is a matter of debate among economists and labor analysts.

Major technology companies reject the criticism that the H-1B system is primarily a source of cheap labor. Executives stress that the program allows American firms to recruit engineers and researchers with advanced technical expertise in areas such as artificial intelligence, semiconductor design, and complex software development, where qualified talent can be scarce. They also contend that many H-1B workers are paid high salaries and that access to global talent helps keep American companies competitive against rivals in China and elsewhere.

Critics of the visas point to waves of layoffs, today driven by AI, accompanied by the growth in H-1Bs, as evidence that a labor shortage is nothing more than a fig leaf. Michael Capuano of the Federation for American Immigration Reform wrote in a blog post last year that "Google laid off 951 U.S. employees in 2024, but found room for 1,058 new H-1B workers. Apple laid off 735 people in 2024, but signed on 864 new H-1B employees. Microsoft laid off 3,426 workers from 2022 to 2024 and hired 3,259 new H-1Bs during that same period."

A 2023 analysis by the Economic Policy Institute similarly found that the top 30 H-1B employers hired more than 34,000 new H-1B workers in 2022 while laying off at least 85,000 employees during the same period.

In addition to cheaper talent, critics say H-1B visas also provide a captive workforce. Because employers can sponsor visa holders for permanent residency, many workers become heavily reliant on keeping their jobs in order to remain in the United States. Critics argue this dynamic discourages employees from changing companies or demanding higher wages, with some likening the system to a form of indentured servitude.

Tribalism At Play?

Critics say favoritism has also contributed to foreign dominance of the tech sector. After foreign-born employees take on leadership roles, including CEO, they sometimes attract and hire more foreigners by tapping their own professional and social networks.

Kevin Lynn, executive director of the Institute for Sound Public Policy, argues that "professionalism doesn't exist in these IT departments anymore," adding that "when you look at the hiring, it becomes very tribal; It's really India versus the rest of the world."

Microsoft saw the number of decisions on H-1B applications rise from 2,983 in 2014, when Nadella became CEO, to 6,258 in 2025. Google's numbers jumped from 2,309 in 2015, when Pichai took the top job, to 7,868 in 2025. During these years, these companies also grew, making it hard to know if the percentage of foreign workers increased. At IBM, H-1B decisions have remained consistent since Arvind Krishna was named the leader.

Meamber, the immigration lawyer, disputes the idea that companies run by foreign-born leaders are more likely to rely on labor from their home country. "The CEO doesn't even know who is being hired. These decisions are being made at a lower level by the HR team and by the recruiters," she said.

Stephen Vivien, an engineer, said he witnessed Indian employees help each other get hired by sharing interview questions when he worked at Google. "There were a lot of H-1B workers and they created their own little network," he said. "[When] one Indian guy would be coming up for his interview, the other Indian guys who had [already] gotten hired would call and share the questions."

In April, a New York jury found New Jersey-based Cognizant Technology Solutions liable for $8.4 million after a former executive sued the company, which was founded in India, for discrimination against non-Indian and non-South Asian workers. The executive argued he was passed over for a promotion and was later fired for raising concerns about bias against non-Indian employees.

The decision follows a separate successful lawsuit brought by three other employees against Cognizant in 2017, all similarly claiming discrimination against non-Indian workers, though the company is appealing and denies all allegations. In both lawsuits, juries found in favor of claims that Cognizant had used the H-1B program as a tool to discriminate against American workers. Since 2009, the company has received tens of thousands of H-1B visa approvals.

Reformers Vs. Big Tech

While restrictions to the program, including last year's $100,000 fee, have yet to meaningfully slow its growth, some Republicans have called to abolish it. In February, Florida representative Greg Steube introduced the EXILE Act, which would end the H-1B visa program entirely.

A proposed reform that might gain more bipartisan support targets the ineffective prevailing wage requirement that allows firms to underpay foreign workers. One idea floated by Republicans would create a minimum salary requirement for H-1B workers that's much higher than the current pay scale, thus removing the financial incentive to replace U.S.-born workers.

Ro Khanna, the Democratic congressman representing much of Silicon Valley, said on the All-In podcast last year that "there's definitely abuse [that] needs to be corrected" in the H-1B program. Khanna said a new prevailing wage standard would be a reform he could support.

But legislation that would raise labor costs would be opposed by Big Tech, armed with its war chest of money and influence in Washington. Jenks, the lawyer, said H-1B reformers face a tough fight. "The donors on this issue include all of the high-tech companies, whether it's Microsoft, Facebook, all of them," she said. "They put millions and millions of dollars every year into lobbying."

Tyler Durden Sun, 05/24/2026 - 10:30
Tyler Durden

With Commercial Real Estate Still Challenging, Lenders Offload Troubled Loans At A Loss

Zero Rss
3 weeks 2 days ago
With Commercial Real Estate Still Challenging, Lenders Offload Troubled Loans At A Loss

Authored by Mary Prenon via The Epoch Times (emphasis ours),

While leasing activity and vacancy trends suggest the U.S. commercial real estate market is stabilizing, office values are still well below post-pandemic peaks, recent reports show.

The San Francisco skyline on Jan. 20, 2023. Patrick T. Fallon/AFP via Getty Images

As owners scramble to make payments on under-occupied office buildings, many lenders are reluctant to foreclose to avoid the headache of taking ownership and reselling the properties, according to David Marino, cofounder of Hughes Marino, a San Diego-based corporate real estate advisory firm.

According to Cushman and Wakefield, a global commercial real estate services company, national office sublease inventory in the first quarter declined by 13.6 percent year over year, to 101 million square feet, while vacancy may have peaked. Sublease space peaked in January 2023, at 189 million square feet, according to the commercial real estate services firm CBRE Group.

A February report from the financial data and research company MSCI also shows that office prices are showing signs of stabilization, though they are still well below their post-COVID-19 pandemic peak. Commercial property prices rose by 0.3 percent year over year in January, but downtown office values declined by 1.3 percent, and were down by 40.2 percent from three years ago.

Massive Perks

Speaking recently with Siyamak Khorrami, host of EpochTV's "Market Insider," Marino said the commercial real estate market is still challenging, as the pandemic has made remote work a new normal. "The horses are out of the barn and never coming back," he said.

An April 1 report from job search platform FlexJobs shows that remote-job postings in the first quarter increased by 20 percent month over month, with 65 percent of positions targeting experienced workers. The platform predicts continued growth in the work model for the rest of the year.

An April 16 Bureau of Labor Statistics report shows that 22.6 percent of workers teleworked or worked from home, a measure commonly described as remote work, in March.

Marino said about 85 percent of companies in the United States have had their leases expire in the past six years and have been able to resize, leaving many office markets with 20 percent to 30 percent availability. As a result, commercial landlords have been offering potential tenants massive perks, including free rent packages.

"I just represented a client in an engineering firm for 14,000 square feet, which is basically space for about 7,065 people. And the landlord that just bought a building down the street was in escrow and wanted to win this deal," Marino said. "They gave us an eight-year lease with a year free. In other words, my client moves in at the end of this year and doesn't pay rent in all of 2027."

In addition, Marino said the landlord paid for all of the tenant improvements to remodel the space, plus a cash moving allowance.

'B' Loans

However, banks and lenders can face an even bigger problem when loans cannot be repaid. Rather than pursuing immediate foreclosure proceedings, many lenders are resorting to creative solutions that allow landlords to retain ownership of these buildings, he said.

Marino noted that there have been "hundreds and hundreds of foreclosures" throughout the country, in particular during the past three years. Typically, he said, commercial loans include a "balloon" provision, which requires repayment or refinancing within seven to 10 years, or the property must be sold.

"What's happened in the last three years is a lot of owners have hit that balloon mark and interest rates went from 3 to 6 percent, so if your occupancy goes from 90 to 60 percent, you're immediately underwater," he said. "Lenders in those situations have generally foreclosed on the properties and resold them at a big discount."

In some cases, lenders don't want to foreclose because they don't want to become landlords. As an alternative, Marino said, they may split an existing loan into two pieces. In this scenario, a lender could, for example, take a $100 million loan and set $30 million of that aside as a "'B' loan," treating it as a different loan.

"What I've seen in the last three years is the lending community getting very creative, trying to salvage what they can," he said. "The lenders don't want to foreclose on the real estate, nor do they want to put somebody into default unnecessarily."

According to Marino, some metro areas are affected more than others. In San Diego, he said, 11 high-rise office buildings have already been foreclosed or are going through a forced-sale process when the loan hit the balloon payment stage.

A couple of those buildings are being converted to residential use, which Marino describes as a "micro trend" and not a significant impact on office inventory nationwide. He noted that close to a third of quality buildings in the city have already transitioned through financial negotiations with lenders.

Downtown Los Angeles and San Francisco have also experienced their share of office building foreclosures, Marino said.

"There's still going to be more, and the developers that own these things, frankly, are handing the keys back," he said. "There [are] some really ugly tax consequences."

For example, he said, if a buyer purchased a building for $200 million with $150 million in debt and today the building is worth only $80 million, the owner would rather walk away.

"These are typically individual assets with their own individual Partnership Agreement, and they're collapsing all over the country," he said.

No Signs Of Systemic Fallout

To Khorrami's question about how this will impact banks and lenders, Marino said it would depend on the percentage of the lenders' assets allocated toward commercial real estate.

"The rollover of the debt is typically distributed over many, many years, so you don't have all these loans really expiring at the same time within one financial institution," he said. "My experience so far is that we're not going to see a collapse of the banking sector because of commercial real estate."

While the road could be bumpy, he said, it's not going to be a trigger effect like it was during the early 1990s. Many of the older vacant office buildings are being sold at land value, minus the cost of demolition to start over and convert them into residential projects.

RentCafe, a rental housing research platform owned by Yardi, estimated in a March report that about 90,300 apartment units were in the office-to-residential conversion pipeline nationwide at the beginning of this year, marking another record year for such projects.

The warehousing market, meanwhile, appears to be booming, Marino said. He noted that the rise of online shopping has created an escalating demand for huge warehousing space.

"You look at an Amazon distribution building, and some of these things are a million square feet," he said. "They're some of the biggest buildings in the country."

The issue is that construction, including land acquisition, permitting, and design, can often take up to three years, he said.

From 2020 to 2025, Marino noted, 1.2 billion square feet of warehouse buildings were being constructed across the country. In another five years, he predicts, the country could see an unprecedented amount of massive warehouse construction.

Tyler Durden Sun, 05/24/2026 - 09:20
Tyler Durden

1 In 4 Cars Sold Globally Is An Electric Vehicle

Zero Rss
3 weeks 2 days ago
1 In 4 Cars Sold Globally Is An Electric Vehicle

Electric vehicle adoption continues to accelerate worldwide, reaching new milestones in 2025.

As Statista's Tristan Gaudiaut details below, according to the IEA Global EV Outlook 2026, published on May 20, global sales of electric cars, including plug-in hybrids, surpassed 21 million units last year, more than doubling since 2022, when annual sales first exceeded 10 million.

As the chart shows, EVs now account for roughly one in four passenger car sales globally, meaning their market share climbed to 25 percent in 2025, up from just 2 percent in 2018.

You will find more infographics at Statista

This rapid growth has been driven largely by China, which remains by far the largest market.

With more than 13 million electric vehicles sold in 2025, the country alone accounted for around 60 percent of global sales.

While adoption has also increased steadily in the rest of the world, with nearly 8 million units sold – largely in Europe and the United States – the data highlight China’s dominant role in shaping the global EV market.

Tyler Durden Sun, 05/24/2026 - 08:45
Tyler Durden

German Taxpayers Bled Dry: Mass Migration Cost €40 Billion In 2025

Zero Rss
3 weeks 2 days ago
German Taxpayers Bled Dry: Mass Migration Cost €40 Billion In 2025

Via Remix News,

Migrants cost German taxpayers — just at the federal level — €24.8 billion in 2025, according to new data in the “refugee costs report” from the German Federal Ministry of Finance. However, the true sum is much higher.

The €24.8 billion is strictly the federal bill. The actual, combined national cost of migration for Germany is that €24.8 billion plus the massive, separate billions that the individual states and municipalities had to pull from their own local tax revenues to cover their own deficits brought on by mass immigration.

Welt notes that the total figure is indeed much higher, since it does not include states and local communes, but Welt does not provide this combined data.

Nevertheless, previous years indicate that this number is at least €15 to €20 billion. That means any total figure is likely well over €40 billion, but as in previous years, it may actually go as high as €50 billion.

The total costs cover several areas, including the federal government’s contribution to the refugee and integration costs of states and municipalities. One controversial issue is exactly how much money the federal government is transferring to the states and municipalities, which they argue is not enough to cover all their costs.

Essentially, the federal government only pays out a flat rate per initial asylum application, amounting to €7,500 from the federal government, allocated via a modification in the VAT distribution. This advance payment reached €1.25 billion for 2025. Additionally, the report assumes that the federal government holds a claim for repayment from the states totaling €250 million for 2025.

However, this only covers a fraction of the cost. The states indicate that the total costs in the area of flight and migration are significantly higher than the VAT resources available to them on the basis of the flat rate.

Of course, all of these expenses only cover specific areas like housing, direct social benefits, and integration courses. The true cost is still far higher than €40 billion to €50 billion.

The costs, for instance, do not cover expenses associated with the substantial foreign prison population. They also do not cover the need for the vastly increased police forces and counter-terrorism efforts. There are also “gray areas” that lead to other hidden taxes on Germans brought on by mass immigration. For instance, mass immigration has led to vastly higher housing prices, more road traffic, crowded hospitals, and longer wait times for medical treatments.

Germans are even paying higher health insurance premiums now due to mass immigration.

The head of the National Association of Statutory Health Insurance Funds (GKV-Spitzenverband) has repeatedly criticized the federal government for creating a massive multi-billion-euro deficit that forces them to raise premiums, with the core of the complaint revolving around “non-insurance benefits.” These are social welfare benefits mandated by the government that are paid out to people who have not paid regular insurance contributions into the system. This includes long-term unemployed citizens and refugees.

When asylum seekers first arrive in Germany, they are not members of the statutory health insurance system. Under the Asylum Seekers Benefits Act, their healthcare costs are covered, with local municipalities and state social offices paying their bills. 

The financial friction begins once a migrant’s asylum application is approved, or if they have been in the country for 36 months without a final decision. At this point, they transition into the standard welfare system, known as citizen’s money.

Once on welfare, they are fully integrated into the statutory health insurance system. This is where the GKV-Spitzenverband argues the math breaks down, with the government only paying €108 per person per month for welfare recipients, the majority of which are migrants and those with a migration background, when the care actually costs between €300 and €350 a month.

This has resulted in a multi-billion euro deficit, which the insurance companies say now needs to be passed on to Germans actually paying for their health insurance.

In short, Germans are being squeezed from all sides due to mass immigration, and despite claims that foreigners would pay the pensions of Germany’s aging population, this is clearly unrealistic. Instead, Germany’s elderly may now be expected to work even longer, with a strong movement in the government to raise the retirement age to 73.

Read more here...

Tyler Durden Sun, 05/24/2026 - 08:10
Tyler Durden

US Approves "Homing All The Way Killer" Missile Support Sale To Ukraine

Zero Rss
3 weeks 2 days ago
US Approves "Homing All The Way Killer" Missile Support Sale To Ukraine

The US State Department has officially cleared a $108.1 million hardware and sustainment package to keep Ukraine's frontline air defenses online, after there's not been much in the way of big dollar headlines concerning Washington's longtime military support to Kiev of late.

The cash injection targets the maintenance and optimization of the US-designed HAWK system - which is short for the "Homing All the Way Killer" surface-to-air missile system.

Bild/Getty Images

Depending on the exact missile variant deployed, the platform handles tactical interceptions of enemy aircraft, drones, and cruise missiles at operational ranges spanning 25 to 30 miles.

The newly approved sale reportedly does not provide new systems, which would bring a much higher price tag, but is instead focused on keeping existing legacy systems operational.

The State Department's Thursday news release detailed a transaction which featured long-term systems support, including erectable mast trailers, major technical modifications, spare parts, consumables, software support, and contractor engineering services - per a media redout.

The statement sought to provide ongoing justification from the Trump admin's Ukraine policy:

"This proposed sale will support the foreign policy and national security objectives of the United States by improving the security of a partner country that is a force for political and economic stability in Europe," it said.

The Defense Security Cooperation Agency has formally notified Congress of the package, and is expected to sail through, after which the contract will be mostly fulfilled by Colorado-based defense contractor Sierra Nevada Corp.  

Ukraine originally integrated the HAWK into its arsenal at the tail end of 2022 via a $400 million security assistance package. And last year Washington authorized a foreign military sale dedicated to a HAWK Phase III upgrade and related sustainment.

Ukraine could see a new rush by Western partners to supply and update air defense systems across the war-ravaged country, given the air war is steadily escalating.

Russia earlier this month sent a record 1,500+ drones and missiles against Ukrainian cities in only a 48-hour period. This was immediately on the heels of a successful 3-day 'Victory Day' ceasefire having held, which was backed by President Trump.

Tyler Durden Sun, 05/24/2026 - 07:35
Tyler Durden

UK Net Migration Decline Masks True Demographic Replacement As British Exodus Accelerates

Zero Rss
3 weeks 2 days ago
UK Net Migration Decline Masks True Demographic Replacement As British Exodus Accelerates

Via Remix News,

The left-wing U.K. government has claimed it is making real progress in tackling the ongoing migration crisis enveloping Britain after official statistics published on Thursday showed that net migration had decreased to 171,000 last year. However, that figure alone doesn’t tell the whole story.

“I promised to restore control to our borders. My government is delivering,” under-pressure Prime Minister Keir Starmer wrote on X in response to the latest publication by the Office for National Statistics.

“Net migration is now at 171,000, down from a high of 944,000 under the Conservatives,” added Home Secretary Shabana Mahmood, claiming the government had “restored order” after the unprecedented figures under the last Conservative administration.

Yet, a glance at the broader figures shows the reported number isn’t as impressive as the government would have you believe.

In the year ending December 2025, the total number of people immigrating to Britain stood at 813,000. For comparison, this figure is around two-thirds of the population of the U.K.’s second-largest city, Birmingham.

That figure comprises 110,000 British nationals returning to the U.K., and 76,000 EU citizens. By far the largest contingent of immigrants was from non-EU countries, accounting for 627,000 arrivals.

The 171,000 figure is also largely offset by emigration — nearly a quarter of a million (246,000) British nationals left the country, while 118,000 EU nationals and 278,000 non-EU nationals also packed their bags.

Total emigration of 642,000 was marginally down on the 680,000 recorded the previous year.

So, while the headline figure looks impressive, that is still a considerable decline in British nationals — down a net figure of 136,000 — effectively being replaced by largely non-EU immigrants. A total of 138,000 Indians, 56,000 Pakistanis, 54,000 Chinese, and 47,000 Nigerian nationals arrived.

The figures suggest that Britain remains a major destination for long-term migrants, and the scale of departures has become an increasingly important factor when reflecting on the overall migration picture.

The net figure for British nationals was the largest exodus since the 1960s.

Meanwhile, non-EU net migration to the U.K. still remains higher (by some margin) than in any other year preceding 2021.

Migration monitoring groups released statements on Thursday contesting the Labour government’s assessment that it was successfully tackling the problem.

“Our immigration system is dysfunctional,” wrote the Centre for Migration Control.

“Three quarters of a million foreign nationals still arrive every year, and one in five people living in Britain was not born here.

“Rather than heed these warning signs, Labour ministers will insist they have ‘taken back control,'” it added.

Other commentators noted that the Home Office no longer publishes the numbers of immigrants who entered the country on a visa that has since expired, and assumes they have left, leaving the figures contentious.

Reminder that net migration figures have been unreliable since the Home Office stopped publishing visa overstayer numbers in 2020

And recent falls in net migration have supposedly been driven by non-EU student/grad visa-holders, who have the strongest incentive to overstay https://t.co/Tpoi2tLphz pic.twitter.com/s1lcd6JeMD

— David Algonquin (@surplustakes) May 21, 2026

“If people’s visas expire and ONS has no record of them leaving the country, they simply assume that they have left — one reason to treat emigration and ‘net’ migration figures with care,” noted Conservative MP Neil O’Brien.

Academic Matt Goodwin, who most recently stood for the right-wing Reform U.K. party in a by-election, warned, “The British people are being demographically replaced – there is no other term for it.”

Migration Watch U.K. called the recent migration wave into Britain “one of the most rapid and drastic demographic changes, outside of war, in human history — no wonder the public are concerned!”

It further questioned why the British public should be “thankful that net migration has ‘crashed’ from the city a size of Birmingham arriving in a single year, to a city the size of Norwich.”

“Where is the infrastructure for this massive inflow of immigrants?” it asked.

Read more here...

Tyler Durden Sun, 05/24/2026 - 07:00
Tyler Durden

Free Speech Shouldn't Be Just For The Party In The White House

Zero Rss
3 weeks 2 days ago
Free Speech Shouldn't Be Just For The Party In The White House

Authored by Charles Sauer via RealClearMarkets,

One of the most important Executive Orders signed by President Trump on his first day in office was Restoring Freedom of Speech and Ending Federal Censorship. As the title suggests, the order forbids any U.S. Government employee from taking any actions that violate the First Amendment rights of any American citizen. The Executive Order is intended to protect against future encroachments on the right to free speech like those that occurred under the Biden Administration.

During the Biden years, government officials routinely pressured social media companies to silence Americans for questioning the official response to COVID-19. For example, Surgeon General Vivek Murthy said that, unless social media companies "voluntarily" removed posts containing "misinformation," the Administration would apply "appropriate legal and regulatory measures." Other members of the Administration sent messages to social media executives, addressing them as if they were poorly performing White House interns. At least one Biden staffer, Deputy Assistant to the President Rob Flaherty, even dropped an F-bomb in an email to Meta, parent company of Facebook and Instagram, inquiring why a post he "requested" be taken down was still up.

In March of this year, the Justice Department signed a consent decree with Louisiana and Mississippi settling a lawsuit brought by the states on behalf of their citizens whose First Amendment rights were violated by the Biden Administration's censorship. The settlement forbids the Surgeon General, the Centers for Disease Control and Prevention, and the Cybersecurity and Infrastructure Agency from threatening social media companies for refusing to remove or limit the viewership of "content containing protected free speech." Unfortunately, some members of the Trump Administration seem to have not read this Executive Order.

For example, Federal Trade Commission Chair Andrew Ferguson, while a vast improvement over his predecessor Lina Khan, thinks the FTC should use its power to punish woke corporations for engaging in First Amendment-protected activity. The FTC recently settled a case, along with eight states, brought against major advertising companies. The suit alleged that the companies worked with progressive media watchdog groups, such as NewsGuard and the Global Disinformation Index, in order to limit the placement of ads on conservative sites. The ad agencies' defense was to claim that they were protecting brand safety.

Brand safety refers to advertising placement agencies avoiding sites with controversial political opinions or objectionable content. One problem with the FTC's case is that being concerned with brand safety makes valid business sense. A business whose customers largely come from a demographic that tends to support progressive politics will not want to advertise on pro-MAGA websites for fear of alienating its existing customers. Similarly, a brand whose customers are mostly conservative will not want to advertise on AOC 2028. The main problem with the FTC case is that organizing boycotts of a business because of the business's political activities is a First Amendment-protected activity.

Boycotts have a long and distinguished history. They were instrumental in the civil rights, labor, and other progressive movements. Boycotts have been used by conservatives, most notably by social conservatives, to pressure advertisers to stop running ads on programs that offended them. Organizers of these boycotts worked with conservative media watchdogs like the Media Research Center. Now, thanks to the precedent set by Andrew Ferguson, the next Democrat FTC Chair could target the Media Research Center and their allies for conspiring to restrain trade by organizing boycotts.

Chair Ferguson also wrote to (then) Apple CEO Tim Cook warning him that Apple could face a federal investigation for "unfair or deceptive or practices." The deception in question is the claim that Apple's news aggregation site is ideologically neutral, when in fact it promotes stories from left-wing sources while ignoring stories from conservative sources. Even if this were true, Apple has a First Amendment right to choose what news sources to feature in its news aggregator. If consumers are dissatisfied with Apple's selection, they are free to use one of the many conservative news outlets on the internet.

Chair Ferguson and government officials like Federal Communications Commission (FCC) Chair Brendon Carr are not just violating the First Amendment - they are violating President Trump's executive order on free speech. Unfortunately, the President's commitment to free speech is also less than consistent. President Trump and his appointees must stop violating the First Amendment - otherwise America will become a country in which free speech only exists for those who won the last election.

Tyler Durden Sat, 05/23/2026 - 23:20
Tyler Durden

Wyoming Is America's Deadliest State For Workers

Zero Rss
3 weeks 2 days ago
Wyoming Is America's Deadliest State For Workers

Using data from the U.S. Bureau of Labor Statistics (BLS), Visual Capitalist's Dorothy Neufeld created the following map to show workplace fatality rates across all 50 states in 2024.

Wyoming recorded the nation’s highest workplace fatality rate at 13.9 deaths per 100,000 workers, compared with just 1.1 in Rhode Island.

Several Southern and Mountain West states also reported rates well above the national average of 3.3.

The state-level divide highlights how workplace risk remains concentrated in specific industries and regions across the U.S. economy.

Why Resource-Heavy States Rank So High

In states like Wyoming and North Dakota, oil and gas extraction remains a major source of employment. These industries often involve remote job sites, heavy equipment, long shifts, and hazardous operating conditions.

The concentration is especially visible in the data. Roughly 30% of Wyoming’s workplace deaths in 2024 occurred in natural resources and mining, while the industry accounted for nearly half of all workplace fatalities in North Dakota.

Agriculture and logging also contribute to elevated fatality rates across several rural states. Workers in these industries routinely operate large equipment, work outdoors in extreme conditions, and travel long distances on rural roads.

The national workplace fatality rate stood at 3.3 deaths per 100,000 workers in 2024, meaning several states recorded rates nearly double the U.S. average.

America’s Freight Corridors Also Face Higher Risks

Transportation incidents remain one of the leading causes of workplace deaths in the country.

States positioned along major freight and energy corridors often see higher concentrations of long-haul trucking, industrial transport, and warehouse activity. That includes parts of the South, Great Plains, and Mountain West.

Long driving hours, highway exposure, and physically demanding loading work all raise fatality risks for transportation workers. For instance, trucking remains central to Mississippi’s economy and is the leading industry for workplace deaths. In rural states, longer emergency response times can further worsen outcomes after serious accidents.

Why Northeastern States Tend to Be Safer

Many Northeastern states reported workplace fatality rates well below the national average in 2024.

Part of that divide comes from industry mix. States like Massachusetts, New Jersey, and Rhode Island have larger concentrations of office-based employment and fewer workers in mining, drilling, agriculture, or logging.

Higher population density may also play a role. Urbanized states tend to have shorter transportation routes, more developed infrastructure, and faster access to hospitals and emergency services.

Geography Still Shapes Workplace Risk in America

The gap between America’s safest and deadliest workplaces highlights how closely occupational risk is tied to local economies.

In many higher-risk states, dangerous industries are also some of the best-paying and most economically important. Energy, transportation, agriculture, and heavy industry continue to support thousands of jobs despite the elevated risks.

That creates a difficult tradeoff for many local economies, where some of the most economically important industries also carry the highest workplace risks.

As a result, workplace safety in America varies sharply depending on the industries that dominate each state’s economy.

To learn more about this topic, check out this graphic on manufacturing jobs by state.

Tyler Durden Sat, 05/23/2026 - 22:45
Tyler Durden

Israel Unleashes New Gaza Strikes Soon After Trump Says Iran Peace Deal 'Largely Negotiated,' Hormuz To Reopen As Final Terms Discussed

Zero Rss
3 weeks 2 days ago
Israel Unleashes New Gaza Strikes Soon After Trump Says Iran Peace Deal 'Largely Negotiated,' Hormuz To Reopen As Final Terms Discussed Summary
  • Israel launches significant new attacks on the Gaza Strip just as word of a tentative US-Iran peace deal is driving international headlines.

  • Trump says an Iran peace agreement has been “largely negotiated” and will be announced “shortly,” with the reopening of the Strait of Hormuz included among the deal’s key elements.

  • Mediators believe they are edging closer to a deal to extend the US ceasefire with Iran by 60 days

  • Waiting game in Tehran, via Iran Foreign Ministry: "We need to wait and see what happens over the next three to four days."

  • Trump, officials have canceled prior travel plans: Trump says "Circumstances pertaining to Government" are keeping him from attending his son Donald Trump Jr.'s wedding this weekend.

//--> //--> //--> US x Iran permanent peace deal by May 26, 2026?
Yes 8% · No 93%
View full market & trade on Polymarket

*  *  *

New Gaza Strikes, as Israel Accused of Trying to 'Sabotage' Tentative US-Iran Peace Deal

Reuters is confirming new significant strikes on Gaza just as Washington unveiled that a tentative peace deal with Iran has been "largely negotiated" and is at the goal line:

Israeli strikes killed at least ‌three Palestinians in Gaza on Sunday, including two members of the Hamas-run police force, health officials said, in violence that underscored the fragility of a U.S.-brokered ceasefire.

Medics said an Israeli airstrike killed one person and wounded two others in the ​Maghazi refugee camp in central Gaza.

The development is being met with accusations that Israel could be trying to sabotage what it may see as a 'bad deal' with Tehran. All of this has been met with polarized and mixed reaction across the political spectrum:

What is possibly left to bomb?
Children and people in tents?? https://t.co/TEETwUgFj6

— Former Congresswoman Marjorie Taylor Greene🇺🇸 (@FmrRepMTG) May 23, 2026

Ted Cruz not happy...

I am deeply concerned about what we are hearing about an Iran “deal,” being pushed by some voices in the administration.

President Trump’s decision to strike Iran was the most consequential decision of his second term. He was right to do so, and we achieved extraordinary…

— Ted Cruz (@tedcruz) May 24, 2026

Pro-Israel hawks not happy either...

Correct. Israel will not tolerate this. https://t.co/R3BoQrIZwR

— Emily Schrader - אמילי שריידר امیلی شریدر (@emilykschrader) May 23, 2026

The deal being floated with Iran seems straight out of the Wendy Sherman-Robert Malley-Ben Rhodes playbook: Pay the IRGC to build a WMD program and terrorize the world.

Not remotely America First. It’s straightforward: Open the damned strait. Deny Iran access to money. Take out…

— Mike Pompeo (@mikepompeo) May 23, 2026 Trump: Iran Deal "Largely Negotiated," Hormuz Reopening Included

President Trump has now posted that an Iran peace agreement has been “largely negotiated” and is “subject to finalization” between the United States, Iran, and the regional governments involved in the talks.

Trump said he remains in the Oval Office after what he described as a “very good call” with leaders from Saudi Arabia, the UAE, Qatar, Pakistan, Turkey, Egypt, Jordan and Bahrain, focused on a Memorandum of Understanding pertaining to “PEACE.” He also said he separately spoke with Israeli Prime Minister Benjamin Netanyahu, and that call “likewise, went very well.”

“Final aspects and details of the Deal are currently being discussed, and will be announced shortly,” Trump wrote. Most notably, he said that, as part of the agreement, “the Strait of Hormuz will be opened.”

The statement marks a major escalation from earlier comments that talks were merely progressing, though Trump framed the agreement as not yet finalized. Key unresolved issues remain unclear, including Iran’s nuclear program, sanctions relief, frozen assets, and the mechanics of reopening and administering Hormuz.

Needless to say, if this holds through Tuesday, your ears may pop from the sudden change in elevation. 

US and Iran Move Closer to Extending Ceasefire by 60 days, say Mediators

The FT reports that mediators believe they are edging closer to a deal to extend the US ceasefire with Iran by 60 days and lay the framework for discussions on the Islamic republic’s nuclear programme.

People briefed on the high-stakes talks said it would include a gradual reopening of the Strait of Hormuz and a commitment to discuss the diluting or handing over of Iran’s stockpile of highly enriched uranium.

🇮🇷 Iran's foreign ministry spokesman:

▫️We are focused on finalizing the MOU

▫️A 30 and 60 day timeframe is included in the text of the MOU.

▫️But as long as the MOU has not been agreed, this period has not yet begun.

▫️Over the past week, the two sides' positions have been… pic.twitter.com/GXzrKHj4WI

— Nader Itayim | ‌‌نادر ایتیّم (@ncitayim) May 23, 2026

The US would also ease its blockade of Iranian ports and, in phases, agree to sanctions relief and unfreezing Tehran’s assets held overseas.

Donald Trump told Axios on Saturday that he would meet his senior officials to discuss the proposal, but the US president added it was a “solid 50/50” whether he would be able to make a “good” deal or else “blow them to kingdom come”.

He was also expected to hold a call with the leaders of Saudi Arabia, Pakistan, Qatar, the United Arab Emirates, Egypt and Turkey on Saturday, an Arab official said.

Rubio on Deal, Enrichment, & 'Progress'

Secretary of State Rubio speaks from India:

Secretary of State Marco Rubio on Saturday said progress has been made in the ongoing peace negotiations between the U.S. and Iran, saying the war will be solved “one way or the other” amid a visit to India.

“There’s been some progress made. Even as I speak to you now, there’s some work being done,” Rubio told reporters in Delhi. “This issue needs to be solved, as the president said, one way or the other.”

The US top diplomat has issued a lot of words but with little substance in terms of anything 'new' suggesting any level of breakthrough:

Rubio: "There might be some news (on Iran) later today. There may not be. I hope there will be. I am not sure yet. There has been some progress done. Even as I speak to you now there is some work being done. There is a chance that maybe later today, tomorrow, maybe couple of days we may have something to say, but this issue needs to be solved one way or another. Iran can never have a nuclear weapon. The strait needs to be open without tolls. They need to Give their enriched Uranium. We need to address the issue of enrichment. The president’s preference is to deal with it in a diplomatic way. That is what we are working on right now."

Latest Statements from Tehran on Draft Status

Via Bloomberg: Iran's talks with the US are focused on ending the war on all fronts, and neither the nuclear issue nor sanctions are being discussed at this stage, state TV cites Iranian Foreign Ministry Spokesman Esmail Baghaei as saying:

  • “We need to wait and see what happens over the next three to four days.”
  • “After the memorandum of understanding is finalized, it will have to be negotiated in later stages.”
  • “The final draft of an agreement text between Iran and the US is still under review.”
  • Says 30- and 60-day timeframes have been included in the text.
  • “In recent days discussions and proposals were raised regarding certain points and wording where differences of opinion still existed. Some of these are still under review and pending final assessment.”
  • “At this very early stage, the matter of releasing frozen assets must be clarified.”
War Preparation Underway: CBS

CBS is reporting that the Trump administration, specifically the Pentagon - as well as intelligence community officials - are currently preparing for a new potential round of military strikes against Iran within the next three days.

However, like with much of the latest speculation and reporting regarding what comes next in the Iran war, the report included the important caveat that nothing is ultimately confirmed or final: "No final decision on strikes had been reached as of Friday afternoon."

"Some members of the US military and intelligence community canceled their plans for the Memorial Day weekend in anticipation of possible strikes," several sources said.

"Defense and intelligence officials began updating recall rosters for US installations overseas as tranches of troops stationed in the Middle East rotate out of theater, part of an effort to reduce the American military footprint in the region amid concern about possible Iranian retaliation," CBS said.

Trump Sticking Near Oval

Additionally, Trump's own Truth Social post about missing his son's wedding has set off an avalanche of speculation that renewed attacks are imminent.

"Circumstances pertaining to Government" are keeping him from attending his son Donald Trump Jr.'s wedding this weekend, Trump wrote in the post. "I feel it is important for me to remain in Washington, D.C., at the White House during this important period of time. Congratulations to Don and Bettina!" Trump said. The day prior he had been vague in answering reporters' questions on the matter.

"He’d like me to go, but it’s going to be just a small little private affair, and I’m going to try and make it," he had said. A number of pundits noted the ease with which he frequently goes down to Florida to play golf, and that it's strange that he would now miss his son's wedding.  However, the wedding is being held out of country, at a small island in the Bahamas, and so this does bring with it extra logistical and security planning and logistics.

As for potential new military action, it's obvious that Trump has been growing increasingly impatient and frustrated about Iran's lack of compromise when it comes to negotiations over several days and weeks.

The White House has made recovery of the country's enriched uranium a top priority, while Tehran has repeatedly slammed the door on this as an option and has not budged. The Iranians aren't even making the nuclear issue part of talks to achieve peace, and have made clear their view this would be for future, post-war negotiations.

More Latest Negotiations Back-and-Forth

US-Iran de-escalation hopes drove crude oil and rates lower and put a bid in equities by the end of Friday's trading day, amid speculation that President Trump would stay at the White House over Memorial Day weekend instead of attending Donald Trump Jr. and Bettina Anderson’s wedding celebrations in the Bahamas.

"As Iran/oil/rates pressure eased on de-escalation hopes, leadership rotated toward small caps, equal weight, housing, transports, discretionary, and selective defensive growth, with short covering in high short-interest/profitless tech and consumer cyclicals reinforcing the catch-up trade," UBS analyst Torsten Sippel wrote in a note to clients late Friday.

Early Saturday morning, Bloomberg reports that President Trump held a phone call with Qatar's Emir Sheikh Tamim bin Hamad Al Thani, regarding Pakistani-led efforts to de-escalate Gulf tensions and preserve the fragile US-Iran ceasefire.

Iran's top negotiator and Parliament Speaker Mohammad Bagher Ghalibaf met Pakistani Army Chief Asim Munir in Tehran earlier today amid ongoing diplomatic efforts to bring the US and Iran to a peace deal, Reuters reported, citing Iranian state media. Ghalibaf told Munir that Iran's Armed Forces "have rebuilt themselves during the cease-fire in such a way that if Trump foolishly restarts the war, they will definitely be more crushing and bitter for the U.S. than on the first day of the war." The Iranian top negotiator also said, "We will not compromise on the rights of our nation and country."

There was a series of headlines from Sky News Arabia, citing sources, indicating that a major push for regional diplomacy was underway earlier today, with officials from Iraq, Oman, Jordan, and Qatar working to mediate with Tehran to avert another flare-up in the conflict. Sky News Arabia sources said Pakistan’s mediator helped break the deadlock over the Iranian nuclear file, though several major issues remain unresolved, including the conflict in Lebanon, sanctions on bank accounts, the status of Iranian ports, and the presence of U.S. military forces in the Gulf area.

Iran is reportedly demanding the lifting of restrictions on its ports and a U.S. military withdrawal from the region before reopening the Strait of Hormuz and entering a new round of talks within 30 days.

There is also a reported internal conflict between Iran’s government and the Revolutionary Guard over Tehran’s negotiating demands.

Latest Headline Round-Up

Latest negotiation headlines (via sources) from Sky News Arabia:

  • Iranian Foreign Ministry: Iraqi and the Omani Foreign Minister discuss in a phone call the ongoing diplomatic efforts to prevent escalation

  • The foreign ministers of Jordan and Qatar affirm the necessity of concerted efforts to ensure the success of mediation efforts with Iran to reach a sustainable solution that addresses all the roots of the crisis and prevents the renewal of escalation.

  • The Foreign Ministers of Jordan and Qatar affirm the continuation of coordination of efforts to support targeted mediation aimed at ending the escalation in the region and restoring security and stability.

  • Sources to Sky News Arabia: The Pakistani mediator has succeeded in overcoming the deadlock on the Iranian nuclear file.

  • Sources to Sky News Arabia: The issues that have not yet been resolved include stopping the war in Lebanon and lifting the ban on financial accounts.

  • Sources to Sky News Arabia: Iran demands the lifting of the siege on Iranian ports and the withdrawal of military forces from the region to open the Strait of Hormuz and proceed to a round of negotiations within a 30-day timeframe.

  • Sources to Sky News Arabia: There is a severe disagreement between the Iranian government and the Revolutionary Guard regarding Iran's demands for negotiations.

Additional overnight headlines (courtesy of Bloomberg):

Economic Impact

  • The dollar ended the week nearly unchanged as risk assets got a boost from optimism around US-Iran peace talks [BN]
  • Germany's business outlook improved for the first time since the Iran war began, with an expectations index rising to 83.8 in May [BN]
  • UK retail sales fell 1.3% as consumers made fewer car journeys amid the global energy shock from the Iran war [BN]
  • Qatar Airways will skip bonuses for almost 60,000 workers this year after the war forced cancellation of tens of thousands of flights [BN]

Military Readiness

  • The US halted arms sales to Taiwan to ensure sufficient munitions for the Iran war, according to Acting Navy Secretary Hung Cao [BN]

  • Director of National Intelligence Tulsi Gabbard resigned from her post, with her anti-war views having spurred tension with the White House [BN]

Trade Disruption

  • Japan is set to receive its first Persian Gulf oil shipment to transit the Strait of Hormuz since the war began, with the Idemitsu Maru carrying 2 million barrels of Saudi crude [BN]

  • Anglo American is redirecting Brazilian iron ore output to Asia as the near-closure of the Strait of Hormuz prevents shipments to Bahrain Steel [BN]

Friday's US-Iran Wrap

  • Iran Says 'No Deal' Will Materialize If US Insists On Enriched Uranium Handover

Hormuz Chokepoint:

  • Iran Says 35 Ships Exited Strait Of Hormuz As Rubio Condemns Tolls

Chart of the Day (read UBS note): 

Fuel Shock Risks Begin Spilling Into Broader Economy

  • Hormuz Shock Raises Recession Risk As Retailers Sound Alarm On Consumer Stress

Professional subscribers can review the latest institutional reads on Iran, Hormuz, energy markets, and more at our new Marketdesk.ai portal.

Any new US attack would likely see Israel join in, & Tehran vows it would retaliate. Getty Images"> Tyler Durden Sat, 05/23/2026 - 22:25
Tyler Durden

Gunman Dead, Bystander Wounded After Large Shootout With Secret Service Near White House, Trump Safe

Zero Rss
3 weeks 2 days ago
Gunman Dead, Bystander Wounded After Large Shootout With Secret Service Near White House, Trump Safe

After a very busy day in Washington and at the White House, given the Saturday flurry of diplomatic activity over the announcement of a tentative Iran peace deal, but which is still awaiting word and some details from Tehran, a deadly shooting erupted just outside the White House, resulting in a massive security and response and presence.

President Trump was at the White House when at around 6pm ET the Secret Service responded in a hail of gunfire as 21-year-old Maryland man Nasire Best opened fire at 17th Street and Pennsylvania Avenue NW near the Eisenhower Executive Office Building.

via Reuters

The president is safe, and the emergency has been declared over.

Somewhere between approximately 15 to 30 gunshots were fired, according to CBS News, which spoke to local law enforcement. President Trump was at the White House during the incident, "but was not impacted," the Secret Service spokesperson later announced.

A bystander was wounded, and the suspect was hit by by Secret Service officers upon returning fire. The gunman was wounded and taken to the hospital, where he later died. 

I was in the middle of taping on my iPhone for a social video from the White House North Lawn when we heard the shots. It sounded like dozens of gunshots. We were told to sprint to the press briefing room where we are holding now. pic.twitter.com/iqdQwh4soq

— Selina Wang (@selinawangtv) May 23, 2026

CBS reports upon the suspect's name being identified that "According to the source, Best had a previous run-in with Secret Service in July 2025 in which he tried to gain entry to the White House and was arrested and sent to a psychiatric ward for mental health issues."

A complete White House lockdown as since been lifted. According to more emerging details:

The Secret Service confirmed a couple of hours after the shooting that the man had died after exchanging fire with its agents.

The man had approached a White House security checkpoint and pulled a gun from his bag before opening fire, according to the Secret Service. Law enforcement shot back and wounded the man, who was taken to the hospital where he died. 

Fox reporting that an innocent bystander was hit when a gunman and Secret Service exchanged gunfire near the White House. Condition unknown. pic.twitter.com/mFKad4aZWg

— Acyn (@Acyn) May 23, 2026

As for the wounded bystander, the victim's information has not been released, and his condition not immediately known - after being rushed to the hospital.

New footage of the shooting near the White House pic.twitter.com/aTDtFD2onU

— Faytuks Network (@FaytuksNetwork) May 23, 2026

Per CBS, Senate Majority Leader John Thune and House Speaker Mike Johnson both praised the rapid response of the Secret Service as the shooting unfolded

In a post on X, Thune declared he is "grateful for the Secret Service and the agents' decisive actions to protect President Trump and everyone at and around the White House this evening."

Tyler Durden Sat, 05/23/2026 - 22:13
Tyler Durden

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