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Samsung Strike Threat Sparks Selling Contagion In Memory Stocks

President Trump's China trip has concluded, with the multi-day summit producing comments from both sides that pointed to warming bilateral relations. As Trump returns aboard Air Force One on Friday morning, traders are shifting focus to overnight turmoil in South Korea, where labor action risks rattled Samsung shares and other memory stocks, and dragged the country's benchmark KOSPI index lower.

Samsung’s strike is set to formally begin on May 21. Because the company’s semiconductor fabs are already highly automated, the impact on production is expected to be limited. However, there will likely be noticeable disruptions to packaging and logistics, R&D and design, as well… https://t.co/l2ibgeXEIL

— TrendForce (@trendforce) May 15, 2026

"There was pronounced pressure in Asia, with the KOSPI down 6.1%, led by heavy selling in Samsung and SK Hynix. Headlines around a potential 18-day union strike at Samsung further exacerbated weakness across tech," UBS analyst Zeynep Akkok wrote in a short note to clients.

First time in weeks that Samsung and KOSPI had a down week:

Samsung

KOSPI

Akkok explained that the selling in South Korean tech and memory stocks spread to Europe: "This is feeding directly into Europe, where technology stocks are down 2.7%, and UBS's semiconductors basket is off 4.2%."

One of the most aggressive AI melt-ups globally just hit its first real air pocket. Spot-up, vol-up works great…until everybody suddenly realizes they are naked to the downside.https://t.co/YqHKAjyZEP

— The Market Ear (@themarketear) May 15, 2026

Everything you need to know about the labor action theat against Samsung (courtsey of Bloomberg):

• Samsung's largest labor union threatened an 18-day walkout beginning May 21 after government-mediated wage negotiations collapsed on May 13.

• The union demands that Samsung scrap existing bonus caps and allocate 15% of operating profits to bonuses, while both sides remain sharply divided over AI-related earnings bonuses.

• Samsung CEO Jun Young-hyun and executives met with union leadership on Friday, with Samsung offering unconditional talks and urging swift dialogue.

• Samsung reportedly began cutting production on Thursday ahead of the planned strike to prepare for potential quality issues.

Beyond selling pressure in Asia and Europe, the U.S. is also experiencing a red morning, with Nasdaq futures down 1.6% and S&P 500 futures down about 1.2%.

Among U.S. semiconductor stocks, Nvidia is down 2.6% in premarket trading. Broadcom is down 3%, AMD is down 4%, and Intel is down 5%.

We briefed readers earlier on another bout of selling pressure hitting global markets this morning, including surging Treasury yields and elevated crude prices (read the report here).

Taken together, from memory, stocks soaring and yields higher amid inflation woes, this setup points to a risk-off Friday. That said, traders will be watching closely for any bull-friendly White House comments that could stabilize and provide a relief bid.

Tyler Durden Fri, 05/15/2026 - 09:05

Futures Tumble As Reality Returns And Yields, Oil And Dollar Soar

Bond yields, oil and the dollar are surging this morning as US futures tumble from all-time highs, with Tech underperforming driven by a series of factors including i) surging energy prices on lack of Iran war progress, ii) elevated positioning into options expiry; iii) Central bank repricing, iv) Tech sell-off driven by higher yields, and v) strikes at Samsung Electronics. The combination of stronger consumption and higher inflation is also a factor today. As of 8:00am ET, S&P futures are down 1.0% and Nasdaq futures slide 1.4% with the momentum brigade of Semis and Memory dumping (that bastion of the memory trade, Korea, sold off last night, its worst day since early March). The losses point to a bleak end to a week in which chipmakers led a narrow rally despite steadily rising yields and the absence of a US-Iran deal. Cyclicals ex-Energy are, unsurprisingly, seeing material underperformance to Defensives. Bond yields are up 4-7bps as the Dollar looks to complete its first 5-day win steak since March. In commodities, Energy is leading with Brent rising 2.3% to above $108 a barrel. Helima Croft, global head of commodity strategy at RBC Capital Markets, said an expectation that the Strait of Hormuz would reopen within the next month was “magical thinking.” Precious metals tumble on dollar strength. Today’s macro data releases are all B-grade, including Empire Mfg, Industrial / Mfg Production, and Capacity Utilization; none are market-moving.

In premarket trading, Mag 7 stocks are mostly lower: Microsoft (MSFT) rises 0.7% after Pershing Square Chief Executive Officer Bill Ackman said he’s taken a new stake in the compan ( Alphabet -1.6%, Amazon -1.5%, Apple -1.2%, Nvidia -2%, Meta -0.7%, Tesla -1.9%)

• Dexcom (DXCM) rises 3% after the diabetes device maker gave long-term growth outlook at its investor day that impressed analysts. Separately, activist investor Elliott Investment Management took a stake in the company and struck a settlement that will put two independent directors on the board.
• Dlocal (DLO) falls 8% after the emerging markets payment services provider reported first-quarter results that missed expectations in terms of net income and earnings.
• Figma (FIG) rises 10% after the creative software platform reported first-quarter results that beat expectations and raised its full-year forecast. Analysts said the report eased concerns about AI-related disruption.
• Gemini Space Station (GEMI) gains 21% after the fintech firm announced that Winklevoss Capital Fund has made a $100 million strategic investment in the company, at a price of $14 per share.
• Globant (GLOB) climbs 5% after the IT services company reported first-quarter results that beat expectations.
• Magnum Ice Cream (MICC) US-listed shares rise 12% after Reuters reported that private equity firms including Blackstone and Clayton Dubilier & Rice are exploring potential bids for the company.
• NU Holdings Ltd. (NU) falls 3% after the Brazil-based financial institution reported the cost of credit climbing 72% in the first quarter from the same period a year earlier.
• Papa John’s (PZZA) gains 6% after Reuters reported investment firm Irth Capital is working with the pizza chain’s largest US franchisee, who controls ​around 10% of its domestic restaurants, to take the company private. Reuters cited three sources which it did not identify.

In other corporate news, Kioxia said it would list its shares in the US as it reaps the benefits of a global memory chip shortage that’s ratcheted up prices of the vital component. OpenAI CFO said the ChatGPT maker may raise more capital, as the company races to secure computing power to meet surging AI demand.

A broad selloff in bond markets dragged stocks lower, bringing a sudden halt to the artificial intelligence-fueled equity rally that has pushed the S&P 500 from one record high to the next. The sentiment reversal reflects some profit taking after recent gains, and a lack of concrete progress between Trump and Xi beyond cordial niceties. Also Fed Chair Powell’s term comes to an end today, just as the 10-year Treasury hit 4.5% for the first time overnight since June, prompting a swoon in equity futures. 

With a summit between President Donald Trump and China’s Xi Jinping ending without any path to resume flows through Hormuz, the impasse between the US and Iran is moving back into focus. Traders will now watch the next steps the two countries take after more than two months of war.

“There’s no question that momentum has been so aggressive on the upside that the risk of a correction is there,” Paul Skinner of Wellington Management told Bloomberg TV. “With a background of bond markets looking unsettled, with the problem of inflation, with the Strait of Hormuz not having a solution out of that Summit, I think there definitely is some volatility to come.”

Brent crude rose 2.3% to above $108 a barrel. Helima Croft, global head of commodity strategy at RBC Capital Markets, said an expectation that the Strait of Hormuz would reopen within the next month was “magical thinking.” 

“There seems to be an emerging consensus that the Strait of Hormuz will reopen in June because the cost of continued closure will be too high,” she wrote. “We are very skeptical. The optimistic scenario seems predicated on the tenuous assumption that there is a relatively easy policy lever that can be pulled.”

In central bank news, the Governor Barr pushed back against proposals to shrink the Fed’s balance sheet, describing them as wrong and a threat to financial stability. The Fed’s Williams said there’s no reason to raise or cut rates right now. 

Meanwhile, the turmoil in UK markets is showing no sign of ending as investors price in the possibility of more expansive fiscal policy under a potential successor to Prime Minister Keir Starmer. Manchester Mayor Andy Burnham secured a pathway for a future challenge, unsettling investors who were rattled last year by his comments that the country was “in hock” to bond markets. The prospect of a seventh prime minister in 10 years “is not a record of which any nation would be proud,” said Russ Mould, investment director at AJ Bell. “It is contributing to how the UK has the highest 10-year bond yield in the G7.”

Growing price pressures and a series of key dates next month are setting up the stock market for profit taking, according to Bank of America strategists. Michael Hartnett cited the next OPEC gathering, the start of the World Cup, the Group of Seven summit and the first Federal Reserve FOMC meeting under Kevin Warsh as catalysts. US inflation is on course to exceed 5% by November’s midterm elections unless the 0.4% monthly gains of the past half year slow rapidly. A scenario where inflation climbs above 4% is “where risk assets get twitchy,” Hartnett said. “Bull capitulation into stocks and tech likely fully complete in next few weeks, early June ripe for taking some off table.”

One thing that Xi has that Trump wants is low interest rates, notes BofA’s Michael Hartnett. The strategist had previously said if the 30-year Treasury yield severely breached the 5% threshold, “the door to doom starts to open.” The jury is still out on whether Powell did enough to bring inflation back to target, notes Anna Wong in a Bloomberg Eco Essential Read. The problem is that if macro - and bond yields- actually matters again, then the S&P is about 1000 points too high.

Elsewhere, BofA strategists noted that US large-cap stock funds attracted their largest inflows in five weeks at $24.4 billion, in the week to May 13, citing EPFR Global data. Discussions around positioning and momentum continue at pace. Momentum in large caps is on a tear, with the factor up more than 30% on a long/short basis this year, tracking one of the strongest six-month stretches in more than two decades.

Given the Nasdaq 100’s run-up, it’s worth taking note that the rarely seen “spot up/vol-up” correlation is evident in options. It’s part of the FOMO trade as traders, especially the retail cohort, chase upside through long calls. In a sign of how heated price action has become, the poster child of the AI melt-up, South Korea’s Kospi, touched the 8,000 level before reversing and sinking 7%. All sectors in the benchmark were sharply lower.

In geopolitics, US Trade Representative Jamieson Greer said he anticipates that China would commit to billions in American agricultural purchases. The CIA Director visited Cuba for talks with top leaders as the US grows frustrated over a lack of progress in economic and political change. California Governor Gavin Newsom is proposing a new tax on cloud-based software sales to raise revenue for the state.

European stocks are following their Asian counterparts lower as oil prices rise on concerns that the Strait of Hormuz will remain shut for longer. Miners fall the most while the health care subindex is the leading performer. Stoxx 600 falls 1.2% to 608.54. Here are some of the biggest movers on Friday:

• Technoprobe shares rally as much as 39%, the most on record, after the Italian company raised its revenue and margin guidance for 2027 and said it expected to hit those revised targets a year early, indicating soaring demand for its semiconductor probe cards.
• Dino Jumps shares jump as much as 18%, the most on record, after the retailer beat first-quarter earnings estimates, with an acceleration in like-for-like sales growth that outpaced competitors. The results should improve sentiment toward the stock, which has fallen nearly 50% over the past 12 months.
• Syensqo shares rally as much as 12%, its biggest gain in over 13 months, after the chemicals company reported Ebitda ahead of expectations in the first quarter. Citi said the beat and the improving order book are reassuring investors.
• Salvatore Ferragamo shares fall as much as 19% after the luxury goods maker reported first-quarter revenue below analyst estimates. Analysts said Europe remained the weakest region because of the company’s reliance on wholesale, while North America posted strong growth. Ongoing conflict in the Middle East remains a key risk to Ferragamo’s turnaround.
• Grafton shares drop as much as 3.8% to trade at a 13-month low, after Citi said tougher trading conditions will weigh on consensus estimates for the building supplies company. Analysts said weakness in the UK is being offset by growth in other regions.
• European miners are heavily underperforming on Friday, as copper continues to retreat from the record-high close seen earlier this week. Accelerating US inflation reduced the chance of rate cuts and a stronger dollar make the red metal more expensive for many buyers. Gold is also falling.

The tech sector fueled losses in Europe and Asia too, with the Stoxx 600 falling 1.4%. South Korea’s high-flying Kospi index tumbled 6.1% as investors cashed out of Samsung Electronics Co. and SK Hynix Inc. Nvidia Corp. slid 2.1% in premarket trading after a seven-day streak of gains. Asian equities slid the most since March as higher oil prices fueled concerns over inflation, with heavyweight Korean chip stocks leading the declines after a dizzying rally. The MSCI Asia Pacific Index lost 2.2%, snapping a five-week winning streak. Samsung Electronics and SK Hynix, which contributed to much of Kospi’s roughly 80% rally this year, each dropped over 6% on Friday.  Almost all national benchmarks in the region traded lower as Brent crude headed for its biggest weekly advance in three, with efforts to end the Iran war in limbo and the crucial Strait of Hormuz staying effectively closed. President Donald Trump made conflicting remarks on Hormuz, telling Fox News the US doesn’t need the waterway open, and then later saying “we want the straits open” while sitting alongside Chinese leader Xi Jinping in Beijing.
Japan’s government bond yields marched higher across the curve in the latest sign that elevated oil prices are raising inflation concerns across global debt markets. Meanwhile, India’s state-run refiners raised fuel prices for the first time in four years.

In FX, the US dollar has been the main beneficiary, looking to complete its first 5-day win steak since March, after a jump in oil prices reignited inflation concerns and sparked a selloff across global bond markets. The Bloomberg Dollar Spot Index is up 0.3% to its highest level this month.

In rates, bonds fell across the Americas, Europe and Asia as doubts grew over whether oil supplies from the Middle East will normalize anytime soon. Scorching wholesale inflation data in Japan offered a fresh warning of price pressures building throughout the global economy.  Treasuries broadly hold losses seen in early Asia session as oil pushes higher with the Strait of Hormuz still effectively closed and efforts to end the war in limbo. Yields are off session highs however leading into the early US session as oil gains unwind slightly. Yields remain cheaper by 2bp to 6bp across the curve in a bear steepening move. US 10-year yields trade near session highs around 4.55%, and highest since May. Front-end outperforms slightly, steepening the US 2s10s and 5s30s spreads by 3bp and 2.5bp on the day. Gilts lag, with UK yields trading cheaper by 9bp to 14bp across the curve.While around 14bp of easing is priced by December, or about 55% of a 25bp move, Fed-dated OIS swaps price 25bp of rate hikes by the April policy meeting next year. In UK, political pressure also in play for gilts along with gains in oil, adding to underperformance, after Manchester Mayor Andy Burnham secured a pathway to potentially challenge Keir Starmer for the prime minister’s job. Wider losses seen across gilts, where long-end trades cheaper by 14bp on the day. 

Japan’s government bond yields marched higher across the curve to effectively what are new record highs for the modern era, in the latest sign that elevated oil prices are raising inflation concerns across global debt markets. Meanwhile, India’s state-run refiners raised fuel prices for the first time in four years.

In commodities, Brent crude futures earlier topped $109 a barrel after representatives for Iran bemoaned contradictory US messages, and the The decline in Treasuries has pushed US 10-year yields up 6 bps to 4.54%. Metals are broadly lower with spot silver dropping 6%. 

Economic data slate includes May Empire manufacturing (8:30am) and April industrial production (9:15am). Fed speaker slate empty for the session.

Market Snapshot

• S&P 500 mini -1.1%
• Nasdaq 100 mini -1.6%
• Russell 2000 mini -1.2%
• Stoxx Europe 600 -1.4%
• DAX -1.7%
• CAC 40 -1.4%
• 10-year Treasury yield +6 basis points at 4.54%
• VIX +1.5 points at 18.79
• Bloomberg Dollar Index +0.4% at 1202.79
• euro -0.4% at $1.1622
• WTI crude +3.7% at $104.88/barrel

Top Overnight News

• US President Donald Trump left China on Friday with no major breakthroughs on trade or tangible help from Beijing to end the Iran war, despite two days spent heaping praise on his host, Xi Jinping. RTRS
• An underappreciated surplus of crude oil, sloshing around storage tanks and aboard ships, cushioned the global economy when the Persian Gulf closed 2½ months ago. That excess supply is now dwindling at a record pace, with oil executives and analysts predicting that a harsh reckoning is set to upend the relative calm in energy markets. Acute shortages of key fuels and soaring prices could emerge within weeks if the Strait of Hormuz remains shut. WSJ
• President Donald Trump said the US objective of recovering highly enriched uranium from Iran was “more for public relations than it is for anything else,” while reiterating his commitment to removing the nuclear material. BBG
• Iran has allowed some Chinese vessels to pass through the Strait of Hormuz following diplomatic overtures from China’s government, semiofficial Iranian news agencies reported on Thursday. WSJ
• The UAE will double its capacity to export crude oil bypassing the Strait of Hormuz by next year, as it seeks to reduce reliance on the shipping chokepoint. WSJ
• UK borrowing costs hit their highest level since 2008 on Friday and the pound dipped as traders priced in a greater likelihood that Andy Burnham would challenge Sir Keir Starmer for the Labour leadership. The 10-year bond yield rose as much as 0.15 percentage points to 5.15 per cent, as the price of the debt fell, taking the UK’s benchmark borrowing costs above a post-2008 high set earlier this week. FT
• Japan’s corporate goods prices surged in April by the most in 12 years, in another sign of how the war in Iran is boosting inflationary pressures and supporting the case for the Bank of Japan to raise interest rates. Japan’s Apr PPI surges +4.9% Y/Y in Apr, above the Street’s +3% forecast and up sharply from +2.9% in Mar. RTRS
• Anthropic has agreed the terms of a $30bn fundraising that will value it at $900bn and is expected to close as soon as this month, capitalizing on its unprecedented growth this year to leapfrog its rival OpenAI’s valuation. FT
• Fed Chair Jerome Powell’s term ends today. His colleague Michael Barr said shrinking the balance sheet is a threat to financial stability, while John Williams sees monetary policy in a “good place.”
• BofA weekly flow data shows USD 20.5bln into stocks, USD 28.1bln into bonds, USD 5.8bln into cash, USD 2.0bln into gold and USD 1.3bln out of crypto. Bull & Bear Indicator rose to 7.6 (from 7.2).

Middle East

• US President Trump said it's just a question of time regarding Iran, while he also stated that current Iranian leaders are more reasonable and Iran has a lot of inner turmoil, but added that he is not going to be much more patient with Iran, according to a Fox News Interview. Trump also stated that Iran's enriched uranium could be entombed, but would rather get it, as well as stated that they have their eyes on Iran's enriched uranium and could bomb it again, but he would rather get it. Trump separately commented that he discussed Iran with Chinese President Xi, and they feel very similar about how they want to end the Iran war.
• US has rejected Iran's 14-point proposal, Tehran Time reported citing sources. According to the information, the US government has responded to Iran's written proposal regarding the end of the war.
• "Perhaps another of the Confidence Building Measures (CBM) between US and Iran is in the play", Pakistani Journalist Mallick posted.
• Iranian Foreign Minister Araghchi said contradictory messages from the US remain the main issue. He added that there is no military solution, and thinks the US needs to understand that fact. They have tested us at least twice and have now concluded that there is no military solution.
• Iranian Foreign Minister Araghchi said at the BRICS meeting that the US empire is in decline and Iran will never bow to pressure, according to Press TV.
• Iranian Foreign Minister Araghchi said evidence shows that the UAE made American bases available for operations against Iran, provided its airspace and territory for those operations
• Iranian Parliamentary Speaker Ghalibaf warned that US efforts at sustaining military escalation near the Strait of Hormuz could trigger a fresh global financial crisis at a time when US national debt already stands at a whopping USD 39tln.
• Iran's Ambassador to Belarus criticised the US negotiation stance and said US President Trump's excessive ambitions hinder US-Iran talks, according to TASS.
• UAE attempted to get Saudi Arabia and Qatar to coordinate on a military response to Iran's airstrikes, Bloomberg reported citing sources.
• Qatar's Foreign Ministry told Al Arabiya it had shot down several Iranian drones near its airspace, while it stressed the need to open the Strait of Hormuz in its contacts with the Islamic Republic.
• Israel has commenced strikes on Hezbollah in the Tyre region of Lebanon.
• Israeli army detected rocket launches from Lebanon towards Israeli territory, while Israeli artillery shelling was reported on the town of Nabatieh al-Fawqa in southern Lebanon.

A more detailed look at global markets courtesy of Newqsuawk

APAC stocks were mostly subdued after failing to sustain the early momentum that was spurred by the gains on Wall St, where tech outperformed, and sentiment was underpinned amid constructive headlines from the Trump-Xi summit, while the souring of risk sentiment coincided with higher oil prices and yields amid risk that the geopolitical situation in Iran could escalate when US President Trump returns from Beijing. ASX 200 lacked direction as strength in tech and financials was offset by losses in mining, materials, resources and utilities. Nikkei 225 swung between gains and losses but ultimately continued its pullback from the recent peak amid oil-related headwinds and after hot PPI data further supported the case for a rate hike at next month's BoJ meeting. Hang Seng and Shanghai Comp were mixed despite the recent constructive headlines from the Trump-Xi summit, while the leaders are meeting again today in a restricted working lunch session prior to US President Trump's return to the US. Furthermore, sentiment was not helped by recent disappointing lending and aggregate financing data from China for April, which showed a surprise contraction in loans.

Top Asian News

• Japan's Minister for Economy, Trade and Industry Akazawa said they can tap FY26 budget reserves if the Middle East impact lasts. However, it was also reported that Japanese Finance Minister Katayama said they are not in a situation where an extra budget is needed, while she stated they have JPY 1tln in reserve funds in the FY26 budget, but added there's no immediate need for an extra budget.

European bourses (STOXX 600 -1.4%) are entirely in the red, with sentiment hit for a multitude of factors: 1) Central bank repricing, 2) Tech sell-off driven by higher yields and strikes at Samsung Electronics, 3) Surging energy prices. European sectors confirm the negative bias, with only Health Care posting solid gains. Basic Resources and Tech sit at the bottom of the pile. Metal prices have slumped (XAU/USD -1.8%, XAG/USD -6%), as markets price in further rate hikes across the globe. In addition, South Korea’s KOSPI closed with losses of over 6%, adding to the pressure on silver prices as it highlights silver’s high-beta characteristics (as it stands, KOSPI-Silver correlation is c. +0.7).

Top European News

• UK Labour NEC decision on allowing Burnham to run in the Makerfield by-election is not as clear cut as many are reporting, according to GB News' Harwood. The vote is said to be on a "knife edge", sources say "everyone is wavering".

FX

• G10s showing a risk-off bias as the Buck in tandem with Crude prices. Antipodeans are the underperformers, while EUR and GBP also lag amid energy/political related headwinds.
• DXY continues to perform well, vaulting 50,100 and 200 DMAs over the past two sessions amid a mix of hot US inflation data, resilient jobs data/retail sales and exponentially firm oil prices. The session ahead is absent of major data/speakers, and as such, the Greenback will likely be dictated by incoming geopolitical headlines. As a reminder, Warsh today officially takes the title of Fed Chair, while Powell becomes governor and Miran steps down. MUFG in its morning note said "This week has seen the rolling correlation between DXY and the 2-year US-DXY rates spread strengthen notably, which points to scope for US dollar strength to extend further if rate hike pricing momentum continues”.
• Once again, the centre of attention continues to be UK political developments, as markets increasingly price in the possibility of a left-leaning Burnham premiership after he announced his running in an engineered Makerfield by-election. (See 07:35 BST analysis). Sterling has weakened since the announcement on Thursday evening, but losses are somewhat limited given the continued uncertainty about whether the Manchester Mayor would be able to 1) Succeed in winning the by-election, 2) Beat incumbent Starmer in a leadership challenge. Elsewhere, keep an eye on a potential announcement on a support package for bills next week, after Housing Secretary Steve Reed touted it this morning. GBP/USD fell to a 1.3328 low where it found support.

Central Banks

• Fed's Barr (voter) said smaller Fed balance sheets would likely increase Fed interventions and that reducing liquidity rules to shrink the Fed balance sheet is not a good idea. Barr stated that lowering the liquidity requirement would simply increase stability risks, and if anything, the liquidity requirement should go up, not down. Furthermore, he said they are not in a recession, but there's been little job creation, while he hasn't decided on what to do at the June FOMC meeting.
• Fed's Williams (voter) said Fed independence delivers better economic outcomes, and it is not time to worry about Fed independence, with staff focused on the mission. Williams said the context matters for inflation given its persistence above target, while he is not surprised to see near-term inflation expectations rise and is seeing pretty stable longer-term inflation expectations. Williams noted there is a lot of uncertainty around energy price outlook and that the job market is not "hot" but also not slowing dramatically, while he added that monetary policy is mildly restrictive and he doesn't see any reason to hike or cut rates right now.

Fixed Income

• Global benchmarks are down, dragged lower early in the week as markets digested hotter-than-expected CPI/PPI, the prolonged Iran conflict (higher energy prices), with fears also exacerbated by the turmoil in the UK’s Labour Party. Markets remain on tenterhooks given the mentioned factors, and this has been reflected in market pricing across several major central banks. Traders now assign a 70% chance of a 25bps hike by year-end and fully priced in for July 2027.
• USTs are currently down by 16+ ticks, and trading at the bottom end of a 109-16 to 109-29+ range. Attention over the past day has been on the Trump-Xi meeting, where initial commentary suggested positive developments; President Trump stated that many problems with China were “settled”. Focus now shifts from China, and back to Iran, where no progress has been made. Some reports have touted that Trump may look to immediately strike Iran after his China visit, to force Iran into a deal. If enacted, there is a risk that Iran chooses to restart strikes on US allies in the Middle East, leading to another spike in energy prices, hence filtering through into US yields.
• Bunds follow the negative action seen across peers, and trade at the bottom end of a 124.58 to 125.03 range. Whilst yields are firmer across the curve today, levels remain within familiar levels; 10yr holds around 3.108% vs a near-term high of 3.133%. As it stands, the belly of the curve is outperforming; however, traders may soon begin to factor in weaker economic growth across the EZ, which may see medium-term yields begin turning lower.
• Gilts underperform vs peers and are currently off by 137 ticks; holding at the bottom of an 85.44-85.85, a trough amongst the contract low. Ultimately, following peers, but the move also exacerbated by domestic politics. A full review is on the Newsquawk feed at 07:35 BST, but in brief: Labour MP for Makerfield announce he is willing to stand aside and spark a by-election, to allow current Greater Manchester Mayor Burnham to run and then, if successful, to challenge for the Labour leadership and, by association, the role of Prime Minister. For reference, Burnham was touted as the “least” market-friendly outcome by a recent FT fund manager survey.
• Australia sells AUD 1bln 1.00% December 2030 bonds b/c 3.69, avg yield 4.7049%.

Commodities

• Geopolitical risk has heightened as US President Trump returns from his trip to Beijing and refocuses on the Iran situation. As a reminder, reports yesterday via Axios suggested US President Trump's team is now discussing options for military escalation to break the deadlock. Axios added that US officials said Trump could make his next move immediately after his trip to China. Options reportedly include 1) resumption of "Project Freedom," with the Navy attempting to break the logjam in the Strait of Hormuz, 2) the launch of a new bombing campaign focusing on Iranian infrastructure. Meanwhile, Israeli officials cited by Axios said they'll be on high alert this weekend in case Trump decides to resume the war.
• In terms of more recent updates, Trump warned it is “just a question of time” regarding Iran and said he will not be “much more patient” with Tehran, while reiterating that the US is monitoring Iran’s enriched uranium and could strike again if necessary, although he would prefer a diplomatic outcome. Trump added that he discussed Iran with Chinese President Xi and both sides agreed the war should end, with China later confirming the leaders reached new consensuses and calling for a comprehensive and lasting ceasefire alongside dialogue on Tehran’s nuclear programme. However, reports suggested that Washington informed Israel that Trump could still authorise fresh strikes inside Iran, while the Tehran Times reported the US formally rejected Iran’s 14-point proposal and maintained its hardline nuclear stance.
• In the European morning, an uptick in crude and a leg lower in sentiment coincided with comments from Iranian Foreign Minister Araghchi, who noted contradictory messages from the US remain the main issue. On the supply side, it’s also worth noting that the UAE announces accelerated pipeline construction to bypass the Strait of Hormuz. Nonetheless, WTI Jul rose above USD 100/bbl to currently trade towards the top end of a USD 97.23-100.93/bbl range, while its Brent Jul counterpart resides at the upper end of a 106.26-109.68/bbl parameter. Dutch TTF front-month trades higher by just shy of 3% at the time of writing, north of EUR 49.MWh, vs an earlier low of around EUR 47.60/MWh.
• Precious and base metals are softer across the board, given the energy-induced strength in the USD. Spot gold trades in a USD 4,532-4,665/oz, while Spot silver sees deep losses for a second straight session as it continues to recoil from a recent rally, with prices hitting a USD 77.66/oz low vs USD 83.88/oz intraday high, and after hitting a USD 89.37/oz peak on Wednesday. 3M LME copper continues to pull back from record levels, dipping under USD 14,000/t to trade in a current USD 13,586.00- 13,961.03/t range.
• UAE is to complete the construction of a new West-East pipeline project in 2027, Bloomberg reported. The ADNOC Chairman later said they are reviewing progress on the new West-East Pipeline (c. 1.5mln BPD, when complete), set to double the co.'s export capacity via Fujairah.
• Abu Dhabi backs USD 13bln US gas plant as Middle East supplies falter, according to FT.
• Japan's METI met and confirmed that, at the next meeting, they will deepen consideration on the diversification of oil procurement sources and improve the domestic supply system and future oil reserves, Nikkei reported.

Trade/Tariffs

• US President Trump said they have gotten along well with Chinese President Xi and have a very good relationship with China, while he added Xi is a tremendous and strong leader, and that he would like to see US companies do more business in China. Trump said he spoke to Xi strongly about trade and intellectual property, as well as noted that China will open the country in stages and that it would be good for US companies. Furthermore, Trump said China is going to be buying a lot of farm products, as well as stated that he asked China about using Visa (V), and maybe the China Visa ban will come off.
• Chinese President Xi said the US and China agreed to enhance talks on regional issues, Chinese State media reported. The two sides reached an important consensus and agreed to stabilise trade relations.
• China's Foreign Ministry said US President Trump and Chinese President Xi reached a series of new consensuses, while it added that the war should not continue and that China is to contribute to Middle East peace. It also said a comprehensive and lasting ceasefire should be reached as soon as possible, and urged solving the Iranian nuclear issue through dialogue.
• US President Trump posted that Chinese President Xi congratulated him on so many tremendous successes in such a short period of time, while Trump added that the US was in decline two years ago, but is now the hottest nation.
• USTR Greer said they had a lot of successes in rebalancing trade with China and expect to see an agreement for double-digit billions of dollars of agricultural sales to China coming out of the summit. Greer said China is fulfilling its promises on soybean purchases and that China knows there is going to be a certain level of US tariffs on Chinese goods. Furthermore, he cannot commit to a given rate of tariff on Chinese goods and will release findings of trade investigations in weeks, while he stated purchases of NVIDIA H200 chips will be a sovereign decision by China, and that chip export controls were not a major topic in the meeting.

Geopolitics

• Commander of Ukrainian drone forces said drones struck Russian oil refinery in the Ryazan region.
• US Secretary of State Rubio said China's preference is probably to get Taiwan willingly and that there will be some agricultural purchases from China, while Rubio hoped to get a positive response from China regarding the case of Jimmy Lai and others.
• CIA Director delivered a message from US President Trump that the US is prepared to engage on economic and security issues if Cuba makes fundamental changes, according to a CIA official.

US Event Calendar

• 8:30 am: United States May Empire Manufacturing, est. 7.2, prior 11
• 9:15 am: United States Apr Industrial Production MoM, est. 0.3%, prior -0.5%
• 9:15 am: United States Apr Capacity Utilization, est. 75.8%, prior 75.7%

DB's Jim Reid concludes the overnight wrap

As we go to press this morning, markets have lost momentum after President Trump said the US doesn’t need the Strait of Hormuz open “at all”. So that’s added to fears that the Strait will remain blocked for some time, leading to a more protracted energy shock for the global economy. Indeed, Brent crude oil prices are up another +1.21% overnight to $107.00/bbl. And in turn, those inflation concerns have pushed the 10yr Treasury yield up +3.5bps this morning to 4.52%, its highest level since May last year. It’s a similar story for equities too, with S&P 500 futures down -0.25% this morning, slipping back from their record high yesterday.

Those moves have also been clear in Asian markets overnight, with particularly sharp losses in Japan after their PPI inflation data was well above expectations. In fact, the year-on-year measure surged to +4.9% in April (vs. +3.0% expected), which has led markets to price in a growing chance of BoJ rate hikes this year. Indeed, there’ve been fresh records for JGB yields overnight as well, with the 10yr yield (+9.6bps) up to 2.71%, marking its highest level since 1997. Asian equities have also struggled, with the Nikkei (-1.16%), the KOSPI (-3.66%) and the Hang Seng (-0.95%) all lower, although in mainland China there’s been a relative outperformance, with the CSI 300 (+0.04%) and the Shanghai Comp (+0.12%) up modestly.

Otherwise this morning, the big thing to look out for will be the gilt market when it reopens, as it responds to the latest political turmoil in the UK. The last 24 hours have brought many headlines, but the biggest is that Greater Manchester’s Mayor Andy Burnham is seeking to return to Parliament. He now has a path to do so, because an MP in the region announced he’d be standing down to trigger a by-election, which Burnham has said he’ll try to stand in. So if he’s successful and becomes an MP, that would mean he could challenge for the party leadership to become Prime Minister.

For gilt markets, there’s been a focus on Burnham’s candidacy, in part as he said last year that the UK shouldn’t be “in hock to the bond markets”. Moreover, Burnham suggested last week that defence spending could be considered outside the fiscal rules, which added to speculation about more gilt issuance under a Burnham premiership. The news came out after gilt markets had closed yesterday, but the pound weakened sharply in response, ending the day -0.89% lower against the US Dollar, making it the worst-performing G10 currency yesterday. And this morning it’s down a further -0.22% to $1.3373.

Earlier in the day, the UK also saw the first cabinet-level resignation since the local elections, as Health Secretary Wes Streeting stood down. In his resignation letter, he said it was clear that PM Starmer “will not lead the Labour Party into the next general election”. But contrary to earlier speculation, Streeting didn’t launch a formal challenge against Starmer, which would require the backing of 20% of Labour MPs. So, for now at least, Starmer remains in position, and a leadership contest hasn’t been triggered. Gilts closed yesterday before the news of Burnham’s potential return, so 10yr gilt yields (-7.2bps) fell to 4.99%. Meanwhile, the UK data was broadly as expected too, with Q1 GDP growth at +0.6%, in line with consensus.

Ahead of all that, global markets had generally put in a strong performance yesterday, thanks to positive noises from the Trump-Xi summit in Beijing, a decent batch of US data, and easing fears about inflation. So that pushed the S&P 500 (+0.77%) to another record, topping the 7,500 mark for the first time. And other risk assets performed well too, with US IG spreads closing at their tightest level in 3 months.

Several factors helped to drive that advance, but in the background, we had the Trump-Xi summit taking place in Beijing. There weren’t any market-moving headlines as such, but several points led to optimism that trade tensions might ease further. For instance, Trump said that relations would be “better than ever”, and Chinese state media reported that Xi told US executives that China’s "doors to the outside world will open wider and wider". Meanwhile, the onshore yuan reached its strongest level in 3 years yesterday, closing at 6.79 per US Dollar. One of the few more concrete headlines was Trump’s comment that China agreed to order 200 Boeing jets, but this was at the low end of expectations, leading Boeing’s shares to fall -4.73% on the news. Further trade-related announcements are expected today.

Otherwise, risk assets got further support from various corporate headlines. Notably, Cisco (+13.41%) was the top performer in the S&P 500, after they announced a better-than-expected outlook in their latest release. Wider optimism around AI was also supported by a +68% opening jump for AI chipmaker Cerebras Systems after its $5.5bn IPO. Nvidia (+4.39%) led the gains for the Magnificent 7 (+0.49%) while the Nasdaq (+0.88%) hit a record high of its own as well. That wasn’t just confined to the US either, with the STOXX 600 (+0.76%) advancing, whilst Italy’s FTSE MIB (+1.15%) hit a post-2000 high.

In the meantime, oil prices were little changed yesterday, with Brent crude (+0.09%) closing at $105.72/bbl. However, oil did edge higher late in the US session, which contributed to a more hawkish Fed repricing. For instance, futures almost fully priced in a rate hike by June 2027, with 24bps of tightening now priced (+5.6bps on the day). That came as Kansas City Fed President Schmid said he saw “continued inflation as the most pressing risk to the economy”. The US rates mood also wasn’t helped by lukewarm demand for the latest T-bill auctions as the Treasury increased auction sizes for the past couple of weeks. And in turn, 2yr Treasury yields (+3.9bps) rose above 4% for the first time since June 2025. The moves were more muted further out the curve however, with the 10yr Treasury yield (+1.3bps) inching up to a 10-month high of 4.48%. And in Europe, yields fell back yesterday, with those on 10yr bunds (-5.7bps), OATs (-6.6bps) and BTPs (-7.1bps) all lower.

Elsewhere, markets got further support from a robust batch of US data. In particular, retail sales showed signs of resilience, with the headline measure up +0.5% in April as expected. Moreover, it wasn’t just an energy story, as the measure excluding autos and gas stations was up +0.5% (vs. +0.3% expected).  And in turn, the Atlanta Fed’s GDPNow estimate for Q2 moved up from an annualised +3.7% rate to +4.0%, suggesting the economy remained on a strong footing. Meanwhile, we also had the weekly initial jobless claims, which rose a bit more than expected to 211k in the week ending May 9 (vs. 205k expected). But that still left the 4-week moving average at just 203.75k, only slightly above its two-year low the previous week.

Looking at the day ahead, and data releases include US industrial production for April, and the Empire State manufacturing survey for May. From central banks, the EC will publish their Economic Bulletin, and we’ll hear from the ECB’s Vujcic and Dolenc

Tyler Durden Fri, 05/15/2026 - 08:43

Gemini Space Station Soars On $100 Million Winklevoss Investment

Heavily shorted Gemini Space Station soared in premarket trading after Tyler and Cameron Winklevoss injected $100 million into the money-losing crypto exchange, buying Class A shares at $14 apiece in a bitcoin-funded transaction.

GEMI shares are up 20% in premarket trading after closing at $5.26 on Thursday, though the stock remains down 47% year to date.

Short interest is high at 21.5% of the float, equivalent to roughly 8.3 million shares, with 5.3 days to cover, leaving GEMI vulnerable to a squeeze on any sustained upside momentum.

"We believe the market has significantly undervalued Gemini, and that this investment will allow us to set up the company for its next phase of growth," CEO Tyler Winklevoss said in a statement.

Winklevoss noted, "Gemini has achieved several major product and regulatory milestones that position us well to evolve from a crypto company into a markets company. This investment will help fuel that ambition and set Gemini up for long-term success."

GEMI's first-quarter loss narrowed to $109 million from $149 million one year ago, while revenue jumped 42% to $50 million, helped by growth in services such as credit cards. The exchange went public in September 2025 and remains about 83% from its $28 listing price.

Analyst commentary (courtesy of Bloomberg):

Evercore ISI analyst Adam Frisch (in line, PT $5)

• If was not for the strategic investment, the stock "would likely be down on the print as key metrics like user and revenue reacceleration fell well short of pre-IPO expectations"

• "The strategic investment is the headline and should support the stock, but we do not view the underlying print as encouraging as fundamentals are not yet reaccelerating"

Mizuho analyst Dan Dolev

• Gemini has a "solid start" to the year with these restults

• The $100M capital investment and subsequent management commentary are positives

Truist Securities analyst Matthew Coad (hold, $5)

• While Gemini's 1Q were better than feared, "the capital injection may alleviate balance sheet concerns."

Analyst ratings: 

The crypto exchange went public in September 2025 and remains 83% below its $28 listing price.

Tyler Durden Fri, 05/15/2026 - 07:45

41 People In US Under Monitoring For Hantavirus: CDC

Authored by Zachary Stieber via The Epoch Times,

Forty-one people are under monitoring in the United States for hantavirus, the Centers for Disease Control and Prevention said on May 14.

Most of those being monitored were at one time on board the MV Hondius, a cruise ship that experienced an outbreak of the disease after it sailed from Argentina on April 1 to remote locations such as Antarctica.

Eighteen people were flown from the ship recently to medical facilities in Nebraska and Georgia for quarantining during the incubation period for the virus, which is up to 42 days.

Some other individuals left the ship before the hantavirus outbreak was detected and are at home in states such as Arizona and California.

The third group is composed of people who were exposed to hantavirus during travel because they came close to cruise ship passengers, particularly on planes, Dr. David Fitter, a CDC official, told reporters on a call.

Eleven Hondius passengers worldwide have been confirmed or are suspected to have contracted hantavirus, according to the World Health Organization. Three people who were on board and either tested positive or showed symptoms of the virus, such as fever, have died.

Humans typically contract hantavirus from infected rodents, but person-to-person transmission is believed to have occurred on board the vessel.

“Epidemiological investigations continue to better define epidemiological links between cases and exposure factors on the ship, as well as to try to understand the potential source of exposure,” the World Health Organization said in a statement on May 14.

No mandatory quarantine orders have been imposed as of yet in the United States.

“We are working closely with passengers and public health partners to ensure monitoring and rapid access to care if symptoms develop,” Fitter said.

“Our goal is to work with them and alongside them, building plans based on their specific situations to protect the health and safety of passengers and American communities. We understand that these passengers have already been through a difficult experience. This coordinated approach reflects our respect for them as partners in keeping themselves and their communities safe.”

Kansas officials said earlier Thursday that three residents who were not on the Hondius were exposed to a person with hantavirus.

The three are being monitored, according to the Kansas Department of Health and Environment.

Other states, including Maryland, New Jersey, and Washington state, have said residents were possibly exposed on flights.

The CDC says the risk to the public is low, with hantavirus transmission believed to only occur through close contact with infected people or their bodily fluids.

Tyler Durden Fri, 05/15/2026 - 07:20

Europe's Green Deal Is Unraveling

Authored by Mohamed Moutii via the American Institute for Economic Research (AIER)

Over the past decade, Europe has played a leading role in shaping global climate policy, highlighted by the launch of the European Green Deal in 2019—Ursula von der Leyen described it as a “man on the moon moment.” The initiative aims to make Europe the world’s first climate-neutral continent by 2050 while fostering innovation and strengthening its industrial base.

Yet several years later, the results are deeply disappointing. Instead of meeting its goals, the Green Deal is increasingly associated with higher energy costs, weakened competitiveness, and growing political backlash. It has deepened divisions within the EU, strained global relations, and increased pressure on households and businesses—raising serious doubts about its feasibility and long-term economic impact.

How Green Ideology Undermines Europe’s Economy

Europe’s economic stagnation points to a deeper structural problem in its energy and climate strategy—one closely tied to the direction set by the European Green Deal. Since its launch, competitiveness has eroded sharply, with soaring energy costs at its core. Electricity prices in Europe are now two to three times higher than in the United States and China, with taxes accounting for nearly a quarter of the total cost.

These outcomes largely stem from policy choices. The EU’s binding targets—net zero by 2050 and a 55-percent emissions reduction by 2030—have constrained energy supply, despite Europe accounting for only six percent of global emissions. At the same time, phasing out nuclear, restricting gas, and relying on intermittent renewables have weakened energy security and increased price volatility. For industry—where energy can account for up to 30 percent of total production costs—this, combined with carbon pricing, has become a critical constraint, driving firms to scale back, relocate, or shut down, accelerating deindustrialization across the continent.

The automotive industry clearly illustrates these pressures: representing over 7 percent of EU GDP and nearly 14 million jobs, the sector is under pressure from the 2035 ban on combustion engines, forcing a rapid shift to electric vehicles despite unresolved technological challenges and market constraints. As Mercedes-Benz CEO Ola Källenius warned, the policy risks driving the sector “full speed into a wall.” The consequences for the sector are already visible: declining production, mounting restructuring, and significant job losses—86,000 jobs since 2020, with up to 350,000 more at risk by 2035—while tightening regulations are set to reduce profits by seven to eight percent by 2030, pushing the sector toward losses and eroding Europe’s automotive leadership.

Agriculture has also become one of the Green Deal’s clearest casualties. Stricter rules on emissions, land use, pesticides, and fertilizers are raising costs and increasing yield volatility, hitting small farmers hardest and accelerating consolidation among large agribusinesses. Targets such as cutting pesticide use by 50 percent and expanding organic farming risk significant declines in output, threatening both rural livelihoods and food security. Rather than enabling farmers to innovate and improve productivity, these policies are constraining production—fueling widespread protests and weakening both competitiveness and sustainability.

Taken together, these pressures are not isolated—they reflect a broader economic burden. The European Commission estimates that the transition will require at least €260 billion in additional investment each year, with total costs reaching up to 12 percent of EU GDP—a burden that is increasingly difficult for the European economy to sustain.

The Green Deal’s Central Planning Problem

The economic strain is now translating into political backlash. In recent years, opposition to the European Green Deal has surged across the continent—from farmers and industrial groups to voters and political parties. The 2024 EU elections confirmed what was already clear: the once-dominant green consensus is fracturing. In response, Brussels has begun quietly rolling back key elements of the policy—weakening regulations, introducing loopholes, and even avoiding the term “Green Deal” itself. What was presented as a historic transformation is now unraveling.

This backlash reflects a deeper failure. Although the EU allocated $680 billion from 2021 to 2027—over a third of its budget—the Green Deal has achieved only modest environmental improvements, while imposing a heavy economic burden on households and businesses, who now face higher energy prices, taxes, and regulatory pressure.

The problem is not merely execution—it is structural. The Green Deal relies on centralized planning to manage a complex energy transition, even though policymakers lack the information and incentives to do so effectively. A major flaw is its rejection of technological neutrality. Leading manufacturers support a mix of electric, hybrid, hydrogen, and e-fuels to compete freely and allow efficient solutions to emerge, yet Brussels is enforcing a single pathway—effectively dictating which technologies survive and sidelining industry expertise.

In such a system, the outcomes are predictable: misallocation, distorted competition, and costly failures. These distortions are amplified by Europe’s restrictive regulatory environment, where internal barriers within the EU single market amount to a 44-percent tariff on goods and 110 percent on services, further constraining efficiency and innovation.

Germany illustrates these dynamics clearly. Long regarded as the leader of Europe’s green transition, its Energiewende—expanding renewables while phasing out nuclear—has cost around $800 billion since 2002, yet delivered only modest results and left German industries paying up to five times more for electricity than American competitors. Much of the progress in renewables has been offset by the closure of zero-emission nuclear plants. Estimates suggest that maintaining nuclear capacity could have achieved a 73-percent emissions reduction at half the cost, highlighting the limits of ideologically driven policy.

The comparison with the United States is instructive. In the U.S., emissions have declined even as the economy more than doubled since 1990—driven largely by market forces, particularly the shift to cheaper natural gas and the expansion of renewables. This combination reduced emissions without imposing comparable costs. Europe, meanwhile, has pursued a more rigid, policy-driven approach that has raised prices and weakened growth.

The deeper lesson of the Green Deal is that climate policy cannot succeed when it abandons the principles that made Europe prosperous in the first place: free enterprise, open markets, private innovation, and limited government. Energy transitions cannot be engineered through centralized planning, subsidies, and political mandates. Innovation emerges from competition, experimentation, and market signals—not from governments dictating technological outcomes.

Tyler Durden Fri, 05/15/2026 - 06:30

"LoL420F*ckThePOLICE!": Millennial Uses Claude To Crack Crypto Wallet After Decade-Long Lockout

A millennial used Anthropic's Claude to crack the password to his Bitcoin wallet after locking himself out for more than 11 years.

Back in 2014, the X user "cprkrn," who did not identify himself, explained that he had a crypto wallet on an old computer, got stoned one night, changed the password, and forgot it. He tried trillions of password guesses over the years with no luck.

"I tried like 7 trillion passwords lmfao. Found this old pneumonic a few weeks ago that ended up being the old password before I changed it. Thought I was screwed. Last-ditch effort dumped my whole college computer into Claude," cprkrn said.

He noted, "It found an OLD wallet file that the pneumonic successfully decrypted. Locked out 11+ years because I got stoned and changed the password."

The password turned out to be: lol420fuckthePOLICE!* ...

Best part is the password was:

lol420fuckthePOLICE!*:)

😂😂😂😂😂😂😂😂😂

— 🍜 (@cprkrn) May 13, 2026

Here are the prompts in Claude that helped the man retrieve five lost Bitcoins…

HOLY FUCKING SHIT OMG CLAUDE JUST CRACKED THIS SHIT, THANK YOU @AnthropicAI THANK YOU @DarioAmodei NAMING MY KID AFTER YOU 😍https://t.co/gObNirRDpS https://t.co/ByTdIM4d20 pic.twitter.com/xB5LUJb6Pe

— 🍜 (@cprkrn) May 13, 2026

And here is proof: the wallet went active on Wednesday after being dormant for a decade.

He added:

Last tweet + muting, asked Claude to summarize our recovery efforts:

TLDR, tried ~3.5 trillion passwords + none worked, ended up matching an old seed phrase found in a college notebook with an old wallet file 🙂 pic.twitter.com/iOaIIVsiHd

— 🍜 (@cprkrn) May 13, 2026

It was on Wednesday when we cited UBS analyst Timothy Arcuri, who provided color on what corporate America thinks about the chatbot race: “The survey continues to point to Microsoft, OpenAI, and Nvidia as the key enterprise AI winners, but with Anthropic gaining ground.”

Read that report here.

Tyler Durden Fri, 05/15/2026 - 05:45

German SPD Leader Faces Backlash After Claiming Migrants Burdening Welfare System Is A 'Right Wing Extremist' Lie

Via Remix News,

Labor Minister and Social Democratic Party (SPD) co-leader Bärbel Bas (SPD) says nobody is immigrating to Germany to take advantage of its social welfare system. However, she has received substantial pushback directed at her claim.

Bas’ comment came during a session of the Bundestag, when AfD MP René Springer asked Bas why she wasn’t cutting spending on immigration due to the current budget crisis, given the clear burden it is putting on social welfare, a situation that is making German taxpayers increasingly angry. 

“Immigration into the welfare state threatens social cohesion! The fact is: More and more immigrants are pushing into our social welfare system – and are bringing the system to its limits and to the brink of collapse,” CSU Member of Parliament Stephan Mayer told Bild on Tuesday, as quoted by Junge Freiheit.

Bas, in return, has called this notion a lie from “right-wing extremists.”

Her goal, like many proponents of mass immigration is to link it to eliminating Germany’s skilled worker shortage.

“We have a skilled worker shortage in this country, which many companies are addressing by saying, ‘We need everyone who is here in the country and can work.'”

Mayer, and many others before him, shot her down.

“Every statistic refutes her. The immigration into Germany’s social systems is verifiably documented and one of the main reasons why the Federal Republic is heading toward state bankruptcy,” Springer posted on X last week. 

Bärbel Bas hat ein weiteres Zitat für die Geschichtsbücher geliefert. Nach Norbert Blüms „die Rente ist sicher“, Kohls „blühende Landschaften“ im Osten, Merkels „Wir schaffen das“ zur Grenzöffnung und Scholz' „Doppel-Wumms“ zur energiepolitischen Irrfahrt setzt die… pic.twitter.com/7etME3lddg

— René Springer (@Rene_Springer) May 6, 2026

“There is less and less money for those in need because the wrong people, who have never paid into the system and never will, are being supported by us,” he told Bild. 

Remix News has reported extensively on migrant abuse of the German welfare system. In November 2024, data from the federal government revealed that 64 percent of those receiving benefits have a migration background, despite making up a much smaller share of the overall German population. The cost of providing this social welfare rose to €12.2 billion the previous year, but in total, Germany spent nearly €50 billion on immigrants and protecting its border in 2023.

And yet, in August 2025, Germany’s Federal Employment Agency is actively promoting the country’s “citizen’s benefit” (Bürgergeld) to young migrants, with one critic noting: “Germany is so generous that it not only explains to immigrants from abroad how to get a job, but also how to make ends meet in Germany without one.”

That same month, two SPD chiefs in the German state of Thuringia broke with their party, calling for most non-EU migrants — including asylum seekers and recognized refugees — to receive social benefits only as interest-free loans, repayable once they find work, in an effort to break reliance on the state.

Currently, there is very little incentive for many to find work. And even those under deportation orders are being supported at taxpayer’s expense. And this is, of course, ignoring the other issue with massive crime from the migrant community.

Bas, however, has, in turn, said Springer is simply ignorant of the facts.

“You’ve probably never heard of it, because you’re probably not out and about in the country, visiting companies,” she told him. 

Alice Weidel, the AfD parliamentary group leader in the Bundestag, reacted to this with her own input:

“The SPD’s denial of reality is symptomatic of the federal government’s inability to act—a government that doesn’t want to change a thing. A political turnaround is only possible with the AfD!” she wrote on X. 

According to Günter Krings (CDU), deputy leader of the CDU/CSU parliamentary group, “there are too many people who come to us from other EU countries and only work a few hours a week, receiving social assistance for the rest of their time,” the MP told Bild, noting that the German social system is “a magnet for many EU foreigners.”

Former Bundestag member Joe Weingarten (SPD) described Bas’s statement as “a completely unrealistic assessment.” He added that she “is largely alone in this view, even within the SPD.” Weingarten also told The Pioneer, “Any responsible local politician could provide her with enough examples from their own city to prove the opposite.” 

Read more here...

Tyler Durden Fri, 05/15/2026 - 05:00

"Pushed Into Poverty": Somalia’s Currency Crisis Leaves Traders Holding Worthless Cash

For decades, Muse Omar Jama made a living swapping currencies in Mogadishu’s Bakara market, where customers once lined up to trade Somali shillings for dollars and mobile money. Now his office sits mostly silent, and the safes around him are stuffed with cash no one wants, according to The Guardian.

The problem began when traders in Somalia stopped accepting worn-out shilling notes, saying the bills were too damaged to use. The boycott quickly spread to shops, buses, and businesses across the country, wiping out the value of savings held in local currency. Jama describes the shock bluntly: “It’s like we went bankrupt overnight.”

He can no longer exchange the piles of shillings stacked in his office for US dollars, and many former customers leave empty-handed. “I have to turn them away because my safes, shelves and tables are already full of Somali shillings,” he says.

Photo: The Guardian

The Guardian writes that the crisis reflects Somalia’s long shift toward a dollar-based economy. The country hasn’t printed new banknotes since dictator Siad Barre was overthrown in 1991, when the central bank collapsed. Since then, US dollars, remittances sent through hawala networks, and mobile payments have increasingly replaced local currency.

The fallout has hit poor households hardest. Prices for essentials like food, medicine, and transport have risen sharply—one small bag of powdered milk reportedly doubled in price. Jama now walks five kilometers to work because buses no longer accept shillings.

Vegetable seller Asha Ali Ahmed says the change has also hurt small traders. Farmers in Afgoye now demand mobile payments, driving up produce costs in Mogadishu markets. With drought already devastating crops, many customers can no longer afford basic groceries.

According to the World Food Programme, about 6.5 million people in Somalia face severe hunger, while 2 million children under five are suffering acute malnutrition.

The federal government has declared refusing Somali shillings a crime, but many traders doubt it can enforce the order. Jama remains pessimistic: “Millions are going to suffer… More families will be pushed into poverty.”

Tyler Durden Fri, 05/15/2026 - 04:15

Britain Is Now Policing Thought Crime

Authored by Ciaran Kelly via DailySceptic.org,

If you want a snapshot of how far Britain has drifted from its liberal inheritance, consider the spectacle of a 78 year-old grandfather and retired pastor being warned by police that he must not preach from the Bible within a public area. His offence was not harassment, obstruction or intimidation. It was reciting and commentating on a verse many learned as children: “For God so loved the world…”

Clive Johnston’s alleged crime was breaching a ‘buffer zone’ around a hospital which houses a sexual health clinic where abortions are performed – despite the fact it was a Sunday afternoon when there were no scheduled abortions, and he made no reference whatsoever to abortion, nor motherhood, nor babies.

The state maintains he risked “influencing” anyone accessing the clinic in relation to abortion or anyone working there – a crime punishable by fine. He was prosecuted, and this week found guilty for doing so.

At this point, it is worth stating plainly: this is no longer about the cultural debate on abortion ethics.

It is about whether the state may decide which ideas are permissible in public space and which must be confined to the private sphere. In footage from the initial confrontation with police now circulating on X, the policeman literally tells Johnston his religious views should be expressed only in a “safe” place like a chaplaincy – not out on the street, where anyone passing by might hear.

Johnston’s case is the latest example in a pattern that has been building for years: the slow but unmistakable attempt to narrow the space in which Christians, in particular, are permitted to express their beliefs.

Take the school chaplain, Dr Bernard Randall, referred to Prevent for discussing Christian teaching during a school assembly. Or the numerous street preachers removed from public areas simply for speaking about Christ. Or the growing list of individuals questioned by police for nothing more than silent prayer within ‘buffer zones’ – cases in which no words were spoken, no signs displayed, no interactions initiated. The mere possibility of internal deviance in belief, it seems, is now sufficient to trigger official concern.

Abortion ‘buffer zones’ were introduced with a defensible aim: to protect women from harassment at a vulnerable moment. Few would quarrel with that objective (albeit one that was already adequately covered by pre-existing laws banning harassment). But like many well-intentioned measures, the law is being stretched beyond its original purpose. If “influence” can be inferred from the mere act of expressing Christian faith – irrespective of what is actually said, and whether it relates to abortion – then we are no longer policing conduct, but the hypothetical impact of ideas. To put it more bluntly, we are policing thought.

Once the elastic concept of “influence” becomes an offence, the implications are difficult to contain. If spoken words are suspect, what about the mere presence of someone with a certain belief? If preaching from the Bible is counted to be too influential, what about someone within the area wearing a Christian cross, or indeed a hijab? Could that deter a woman from an abortion because she knows of faith-based objections to abortion, and therefore be criminal? If influence is defined so subjectively, then almost any expression of belief becomes, in the eyes of someone, a potential offence.

The premise of the law banning “influence” rather than “coercion” or “harassment” is absurd. It suggests that we aren’t all influenced by one another on a daily basis. It isn’t immoral to change one’s mind on a topic – and indeed, it’s patronising to assume members of the public are so feeble-minded that to be in the presence of somebody with an alternative view would cause genuine harm.

Britain has developed a habit of elevating the avoidance of offence above the protection of liberty. From the proliferation of ‘non-crime hate incidents’ to the policing of speech on university campuses, the direction of travel has been unmistakable: fewer risks of discomfort at the cost of fewer freedoms.

Buffer zones are simply the latest and most disproportionate frontier. What is now being tested is not just the boundary of acceptable behaviour, but the boundary of acceptable belief. You need not share Clive Johnston’s theology to see the danger.

A country that tells its citizens their faith belongs only in designated “safe areas” is not protecting pluralism, but actively dismantling it.

Tyler Durden Fri, 05/15/2026 - 03:30

How Global Economic Power Shifted In The Last 10 Years

The global economic order has shifted dramatically over the last decade, with countries reshuffling positions amid inflation shocks, geopolitical tensions, pandemic disruptions, and the rapid rise of AI-driven industries.

This graphic, via Visual Capitalist's Gabriel Cohen, compares the world’s 15 largest economies in 2016 and 2026 using IMF World Economic Outlook data, revealing which countries gained ground, which fell behind, and which surprised the most.

The U.S. remains the world’s largest economy at $32.4 trillion in 2026 forecasts, while China crossed the $20 trillion mark. India posted one of the fastest growth rates among major economies, while Japan became the only G20 economy to shrink over the decade.

The World’s Reordering of Major Economies

The period from 2016 to 2026 saw major reordering among the world’s top economies, with Mexico overtaking Spain, India overtaking France, and Russia leapfrogging both Brazil and Canada.

The table below lists the world’s 15 largest economies in both 2016 and 2026 based on their nominal GDP in billions of U.S. dollars.

One of the biggest shifts in the rankings came from India, whose economy expanded by 83% between 2016 and 2026. By the end of the period, India’s GDP had nearly caught up with both Japan and Germany.

Meanwhile, Germany overtook Japan to become the world’s third-largest economy, despite relatively modest growth compared to emerging markets.

Germany’s growth was modest compared to emerging markets like China, India, and Mexico, and was tempered in part by the economic slowdown it faced throughout the post-COVID era. However, Germany still grew faster than other major European Union economies like France (46%) and Italy (45%), though not Spain (68%).

The decade between 2016 and 2026 also saw the European Union lose its second-largest member economy, the United Kingdom, in 2020. The UK grew its GDP by 57% to reach $4.3 trillion by 2026.

Another Lost Decade for Japan

Every major world economy expanded over the last decade, with one notable exception. Japan’s GDP shrank from $5.1 trillion in 2016 to $4.4 trillion in 2026, reflecting a 14% contraction.

Following decades of rapid economic expansion in the late 20th century, Japan’s economy has struggled since the 1990s. The government has accumulated a debt-to-GDP ratio of over 200%, while major exporters in the auto and tech sectors have faced rising competition and trade tensions involving both the U.S. and China.

Perhaps Japan’s most pressing challenge is its demographic crisis. The country’s population was roughly 5 million larger in 2016 than in 2026, reflecting a decades-long fertility decline that threatens future growth prospects.

Russia’s Economic Expansion

Russia’s economy more than doubled in size between 2016 and 2026, growing by 107% to reach $2.7 trillion based on IMF forecasts. This expansion came after the Russian financial crisis of 2014–2016, which was driven largely by falling oil prices.

Russia’s growth, fueled heavily by oil and gas exports, came despite sanctions imposed after the country’s occupation of Crimea in 2014 and full-scale invasion of Ukraine in 2022.

Even as the U.S. and European Union imposed sanctions, Russian energy exports were rerouted toward buyers in China and India, albeit at discounted prices.

How do these countries and economic powers compare with individual U.S. states? Find out with The 50 Largest Economies, Including U.S. States on Voronoi.

Tyler Durden Fri, 05/15/2026 - 02:45

The UN's Architecture To Annihilate The West

Authored by Amil Imani via AmericanThinker.com,

The United Nations functions as a predatory cartel dedicated to the systematic liquidation of national borders. Its agenda demands the total eradication of the nation-state to pave the way for a centralized, unelected global tyranny.

The 2018 Global Compact for Safe, Orderly and Regular Migration serves as the executioner’s blade for national sovereignty. This document transforms migration from a matter of domestic policy into a universal human right, stripping citizens of their power to decide who enters their lands. It creates a legal framework that criminalizes dissent against mass migration under the guise of hate speech suppression.

The UN mandate forces governments to promote migration and eliminate all forms of discrimination against migrants, a directive that effectively prioritizes foreign nationals over the rights and resources of their own taxpayers. This policy transforms the fundamental duty of the state from protecting its citizens to serving a globalist movement of people.

The UN Population Division openly plots the demographic overthrow of Western populations. Their Replacement Migration report outlines a cold, calculated strategy to offset declining birth rates in Europe and North America by importing tens of millions of foreign agents. This is the deliberate engineering of a new, rootless labor force designed to dissolve traditional cultural identities.

The UN identifies replacement migration as the sole, non-negotiable solution for aging Western nations, deliberately ignoring the preservation of indigenous cultures and social cohesion. This mechanism treats human populations as interchangeable economic units, engineering a demographic shift that renders traditional national identities obsolete. The UN’s own demographic projections provide the cold, mathematical blueprint for this replacement strategy.

The United Nations maintains a blood-sealed partnership with the Organization of Islamic Cooperation (OIC) to integrate Islamic blasphemy laws into Western legal systems. Through the Combatting Defamation of Religions resolutions, the UN enforces a pro-Islamic bias that shields religious doctrine from legitimate critique. This alliance facilitates the steady Islamization of the European sphere by granting special status to specific religious ideologies under the umbrella of international protection.

Why does Western secularism retreat before the advance of religious expansionism? The OIC utilizes its massive, disciplined voting bloc within the UN to dictate absolute terms on migration and free speech, effectively extorting the international community. This alliance enforces a pro-Islamic bias that shields specific religious doctrines from critique while dismantling the secular foundations of Western nations. The formal cooperation records between the UN and the OIC serve as the public ledger for this strategic surrender.

The UN utilizes the Marrakesh Declaration and subsequent regional summits to bypass national legislatures entirely. This shadow-governance model empowers local municipalities to act as independent entities, funneling UN directives directly into city centers while ignoring federal law. This tactic creates Sanctuary Hubs that fracture the unity of the nation-state from within.

How does the UN fracture a nation from within? By funding local city councils to implement Integration Frameworks, the Machine creates a parallel legal reality where national border enforcement ceases to exist at the street level. This tactical subversion bypasses federal authority, empowering globalist-aligned city networks to operate as independent sanctuary hubs. The UN New Urban Agenda provides the explicit roadmap for this transition of power, detailing the erosion of national governance in favor of localized global control.

The UN Machine operates through a web of extortionate financial mechanisms. It funnels billions into NGOs and humanitarian fronts that facilitate the transit of migrants across sovereign borders. These organizations act as the logistics arm for the invasion, providing the maps, the legal aid, and the transport necessary to breach the defenses of the West.

Every refugee represents a calculated line item in a massive, globalist budget that extracts profit from the deliberate destabilization of stable societies. This predatory financial structure forces sovereign nations to fund their own destruction through mandatory contributions to agencies that actively bypass national immigration laws. The UN effectively turns the taxpayer into an unwitting financier of the very machine that dismantles their security and sovereignty.

Objective journalism dies under Objective 17 of the Global Compact for Migration. This provision demands that signatory nations sensitize and educate media professionals to promote migration as a positive force while cutting off public funding to media outlets that provide intolerance or xenophobia. In the UN’s vocabulary, intolerance equals any factual reporting on the social or economic costs of mass migration.

This directive establishes a state-sponsored propaganda machine that aggressively deplatforms critics while it rewards outlets that parrot the globalist narrative. By enforcing these standards, the UN ensures the total eradication of dissent, transforming independent journalism into a mouthpiece for borderless expansion.

The UN Educational, Scientific and Cultural Organization (UNESCO) actively re-engineers school curricula across the West to foster Global Citizenship. This program replaces national history and identity with a loyalty to globalist institutions. It frames the arrival of foreign populations not as a demographic shift, but as an inevitable and superior evolution of society, ensuring the youth remain compliant during the transition.

So what is the indoctrination involved here? UNESCO’s Global Citizenship Education (GCED) initiates a psychological re-engineering of the youth, targeting children as young as five to convince them that national loyalty remains a mere relic of a dead past. This program systematically replaces the concept of the sovereign citizen with a rootless global identity, ensuring the next generation views the dismantling of their own borders as a moral necessity.

The evidence sits in plain sight. The UN hides its war in the light of official documents, betting on the apathy of the masses. The borders fall. The cultures fade. The Machine remains.

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

Tyler Durden Fri, 05/15/2026 - 02:00

Depopulation Won't Save Us Or The Planet

Authored by Lipton Matthews via The Mises Institute,

In recent years, a strand of environmental thinking has emerged that places population at the center of ecological crises. Some activists, including figures associated with the Extinction Rebellion and the Stop Having Kids Movements Movement in the United Kingdom and the United States have expressed anti-natalist views, arguing that choosing not to have children is a meaningful response to climate change. The reasoning is lucid and, at first glance, convincing: fewer people should mean less consumption, lower emissions, and more space for the natural world to recover.

Yet this argument becomes less compelling when examined more carefully. Depopulation, on its own, is neither a sufficient nor a reliable solution to environmental problems. Once questions of timing, infrastructure, and land use are considered, the connection between population decline and environmental improvement appears far more uncertain.

The first issue is one of timing.

Climate change is seen as an urgent problem that must be addressed within the next few decades. Population decline, however, unfolds over a much longer horizon. Even if fertility rates were to fall sharply today, the total number of people would remain high for decades because of population momentum. Large existing generations will continue to live, consume, and emit throughout the period in which climate action is most critical.

For this reason, the impact of falling fertility on emissions is minimal within the relevant timeframe. Climate-economy modeling indicates that even substantial differences in long-term population size produce only very small differences in projected global temperatures. This conclusion is difficult to avoid. Demographic change happens too slowly to meaningfully influence climate outcomes in the near term. What ultimately matters is not population growth, but the speed at which economies innovate by developing technologies that reduce reliance on greenhouse gas emissions.

Furthermore, it is sometimes posited that countries experiencing population decline also see falling energy use. However, this relationship is often misunderstood. Declines in energy consumption are frequently linked to economic stagnation or contraction rather than to demographic change itself. When economies slow, industrial output falls, investment weakens, and consumption declines. These conditions can reduce total energy use, but they do so because of reduced economic activity, not simply because there are fewer people. In this sense, lower energy demand may reflect a slump rather than a structural environmental improvement.

At the same time, population decline can introduce inefficiencies that push in the opposite direction. As populations shrink, households tend to become smaller and buildings are used less intensively. A home that once accommodated a family may later be occupied by a single individual, yet it still requires heating, lighting, and maintenance at nearly the same level. This spreads energy use across fewer people, increasing consumption per person.

A similar pattern appears in infrastructure.

Transport systems, utilities, and public services are typically designed for larger populations. When the number of users falls, these systems rarely contract at the same pace. Instead, they continue operating below capacity, often with aging equipment that is not replaced quickly due to weaker economic incentives. Under these conditions, overall energy use may not decline as much as expected, and each remaining resident may account for a larger share of it.

Depopulation, therefore, does not automatically deliver greater efficiency and can, in some cases, entrench wasteful patterns of energy use.

The question of biodiversity introduces a further layer of complexity.

A common expectation is that when populations decline, land will be abandoned and nature will gradually reclaim it. However, evidence from Japan—one of the clearest examples of sustained depopulation—suggests that this outcome is far from automatic.

Across a wide range of species and ecosystems, biodiversity loss continues regardless of whether human populations are increasing or decreasing.

The crucial factor is land use.

In depopulating regions, farmland does not simply revert to forest or natural habitat. Some areas fall into disuse, but others are sold for development or reorganized into more intensive forms of agriculture. Urban land use often continues to expand even in areas where population is shrinking, while agricultural land declines without being replaced by ecologically-rich environments. These patterns interrupt the processes, such as natural succession and afforestation, that would otherwise support biodiversity recovery. Instead of a steady return to nature, landscapes become fragmented and unstable, limiting ecological regeneration.

This helps clarify an important point. Biodiversity does not recover simply because human numbers fall. It depends on how land is managed, how ecosystems are protected, and whether long-term ecological processes are allowed to take hold. Without deliberate intervention, depopulation alone may do little to reverse biodiversity loss.

Japan’s demographic experience reinforces this insight. As explored in Peter Matanle’s work on the “depopulation dividend,” population decline does not automatically produce environmental benefits. Outcomes depend on how societies respond to it. In Japan, rural depopulation has often led to the erosion of traditional land management practices that once sustained diverse ecosystems, while urban areas continue to concentrate economic activity and resource use. Environmental change, in this sense, is shaped less by the number of people than by the systems within which they live.

All of this points in the same direction. Depopulation may influence environmental pressures over very long periods, but it does not address their underlying causes. Climate change is driven primarily by energy systems and industrial activity, while biodiversity loss is shaped by land use and ecological management. Neither problem can be resolved simply by reducing the number of people.

The appeal of anti-natalist thinking lies in its simplicity. It offers a clear and individual response to a complex global issue. But that simplicity is misleading. Environmental challenges are structural, not merely demographic. Without changes to how energy is produced, how infrastructure is organized, and how land is used, a smaller population will not automatically result in a more sustainable world.

In the end, the central question is not how many people there are, but how societies choose to live. Depopulation, by itself, is too slow, too indirect, and too uncertain to serve as a meaningful solution to the environmental crises we face today.

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

Tyler Durden Thu, 05/14/2026 - 23:25

Unitree Unveils Real-Life Transformer Robot. Only Costs $650,000

Chinese robotics firm Unitree, known for its robot dogs and humanoids, has unveiled a production-ready "manned mecha": a large robotic machine piloted by a human.

Unitree wrote on X that the manned mecha costs $650,000 and weighs as much as a car. The bipedal mecha is piloted by a human operator who sits in its belly. 

The machine looks like something out of a sci-fi movie. And it tranforms into a giant robo-dog. 

Chinese media outlet Global Times reported that Unitree Robotics CEO Wang Xingxing piloted the bipedal mecha in the promotional video, calling it the "world's first production-ready manned mecha."

"The application scenarios for Unitree's products are mainly aimed at changing the way we work. For example, our robots can be used in high-risk and harsh environments," said Huang Jiawei, a marketing staff member at Unitree.

Jiawei continued, "At this stage, our B2 and A2 quadruped robots are already being applied in consumer and inspection scenarios. Through the use of robots, we hope to improve work efficiency and optimize the way people work." 

"The product is still in its first generation at this stage, and there is indeed a lot of room for imagination," he said. 

Unitree Unveils: GD01, A Manned Transformable Mecha, from $650,000 👏
The world's first production-ready manned mecha. It can transform. It's a civilian vehicle. It weighs ~500kg with you inside.
Please everyone be sure to use the robot in a Friendly and Safe manner. pic.twitter.com/xa6eNiRDdV

— Unitree (@UnitreeRobotics) May 12, 2026

We can use our imagination. This robot will eventually be dual-use and end up on a modern battlefield.

Tyler Durden Thu, 05/14/2026 - 23:00

Researchers Theorize That Our Brains Are Building The Universe

Authored by Steve Watson via Modernity.news,

Developments in quantum physics and consciousness research are prompting scientists to reconsider the fundamental nature of reality.

Several recent discussions highlight theories proposing that conscious experience may play a far more fundamental role than previously thought — potentially generating space-time itself.

Popular Mechanics covered a provocative theory suggesting consciousness could be foundational.

A bold theory suggests that consciousness generates space—meaning reality isn’t what it seems.

Read the full story at the link below.

🔗: https://t.co/qEVnaL3yRL pic.twitter.com/EAKK5onbhA

— Popular Mechanics (@PopMech) May 12, 2026

The full piece explores a 2025 paper by Uppsala University professor of materials science Maria Strømme, published in AIP Advances. Her model proposes consciousness as a universal, omnipresent awareness serving as a foundational field from which physical reality emerges. 

Strømme argues that “in the beginning, it was consciousness. Not individual minds, but something omnipresent, awareness itself. The universe—space, time, matter, stars, galaxies, our own sun, and distant worlds like Neptune—came later. Or rather, according to [this] controversial new theory, it came from that underlying form of awareness.”

The theory reinterprets the Big Bang not as the origin of matter but as the differentiation of a unified field of awareness into the structured world of space, time, and matter. 

It draws on quantum field theory, emergence, symmetry breaking, and non-dual philosophy to suggest that the separation between mind and matter may not be fundamental.

Your Brain Is the Architect of the Universe — And Your Consciousness Shapes Reality
https://t.co/20wYVWtXo5

— Paul Quibell-smith 🔶 (@QuibellPaul) May 12, 2026

New Scientist described a broader shift: “The idea that everything that exists can be built from the bottom up has long held sway among physicists. Now, a new kind of science is under construction that centres conscious experience – and might unravel the universe’s biggest mysteries.”

The idea that everything that exists can be built from the bottom up has long held sway among physicists. Now, a new kind of science is under construction that centres conscious experience – and might unravel the universe’s biggest mysteries https://t.co/OhErhuBhrF

— New Scientist (@newscientist) May 3, 2026

University of Rochester physicist Adam Frank and collaborators argue that conscious experience is what is fundamentally real. Frank states: “I have no access to the world except through experience,” and describes the physicalist world as “an unexperienced and unexperienciable world. It is a very useful abstraction, but one that only comes after the actual world that scientists live and practise in.”

These discussions build on earlier explorations of consciousness potentially operating at the quantum level. 

Research has examined whether the brain’s microtubules could harbor a “quantum heartbeat” tied to awareness. 

Scientists are using terahertz waves to probe subtle vibrations in these cellular structures noninvasively. 

A 2024 University of Maryland study showed that stabilizing microtubules in rats delayed the loss of consciousness under anesthesia, referencing the Penrose-Hameroff Orch-OR theory.

In parallel, Oxford physicist Vlatko Vedral has offered a perspective grounded in the Many-Worlds interpretation of quantum mechanics. He posits that alternate versions of individuals may exist across parallel universes, with every tiny quantum event potentially branching reality into different paths.

Alternate versions of you from parallel universes may be controlling your life, new theory claims https://t.co/Jn1BkBAdha

— Daily Mail US (@Daily_MailUS) May 12, 2026

Vedral emphasizes that reality branches through ordinary interactions, not solely through human observation. He states that humans “do not magically create reality simply by observing it,” adding “consciousness is not special in the way many people believe.” 

He clarifies: “Reality does not suddenly change because a human looked at something.” Instead, “any interaction at all can affect the outcome.” Vedral explained that “the universe does not wait for humans to notice something before making a decision. The interaction itself is what matters.”

He concludes that “people are part of a much larger system of interactions constantly shaping reality around them. The universe, in this view, is not centered on human consciousness. It is an endless web of collisions, particles and probabilities unfolding across countless possible outcomes.”

Adding an intriguing layer to this are these claims:

CERN researchers have developed an advanced quantum simulation that exhibits behavior remarkably similar to an interactive parallel universe.

During experiments focused on quantum entanglement, the simulated particles unexpectedly shifted their patterns the moment scientists… pic.twitter.com/btNmyJTPUE

— Night Sky Now (@NightSkyNow) May 13, 2026

The post continues…

…observed specific regions. This dynamic relationship between the observer and the system challenges traditional models by suggesting observation actively shapes quantum outcomes. If these simulated behaviors hold true on a larger scale, they could radically transform our understanding of consciousness and the underlying structure of reality. Exploring these highly responsive quantum systems opens up incredible possibilities for future technologies that might one day respond directly to conscious intent.

“If these simulated behaviors hold true on a larger scale, they could radically transform our understanding of consciousness and the underlying structure of reality.

Exploring these highly responsive quantum systems opens up incredible possibilities for future technologies that might one day respond directly to conscious intent.” 

OK, this may not be exactly what is going on…

🚨 A viral claim says CERN simulations began showing “organized” behavior that reacted to observation.

Here’s what’s actually real:

Modern quantum simulations can produce unexpected emergent patterns highly structured behaviors that arise from simple underlying rules.

This… pic.twitter.com/dkuaRhI7eQ

— TheNewPhysics (@CharlesMullins2) May 7, 2026

The post continues:

This happens in:

• quantum many-body systems
• neural networks
• cellular automata
• condensed matter simulations
• self-organizing computational systems

And sometimes those patterns become so complex they look almost intentional. But there is currently no verified evidence that CERN created a conscious simulation or discovered a “parallel universe.”

What is fascinating is this: Physics keeps finding that order naturally emerges from complexity. The deeper systems become… the more reality starts looking computational, geometric, and information-based. That’s why these stories spread so fast. They touch a real scientific mystery: At what point does pattern recognition become emergence? And how would we even recognize the difference?

These developments also connect to proposals about the structure of the universe itself. One model suggests the cosmos has seven dimensions in total.

As physicist Richard Pin?ák explained: “We experience three dimensions of space and one of time — four dimensions in total. Our model proposes that the universe actually has seven dimensions: the four we know, plus three tiny extra dimensions curled up so tightly that we cannot directly perceive them.” 

The framework addresses issues such as the black hole information paradox through geometric effects in the hidden dimensions.

Together, the emerging picture points to a universe where consciousness, quantum interactions, extra dimensions, and possible parallel branches may intersect in ways that defy everyday intuition. 

Whether future experiments confirm these connections or refine them remains an open question, but the conversation continues to evolve at the frontier of physics and neuroscience.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Thu, 05/14/2026 - 22:35

Nuclear Buildout Accelerates With Goldman Now Including SMRs Into Forecast

Goldman's latest edition of "Nuclear Nuggets: Global Reactor Tracker" reinforces that the buildout of the cleanest and most reliable form of so-called "green" energy, nuclear power, continues to gain momentum. The theme we first laid out in December 2020 continues to broaden, with buildouts accelerating across both large-scale and small modular reactors, even as the growing risk of a massive uranium supply deficit emerges.

Focusing on the latest North American reactor progress and announcements:

4/16/2026 - Canada - Bruce Power has signed an MoU with SaskPower to share its experience in large-scale nuclear reactors, including project development and long-term operations, as Saskatchewan evaluates large reactor technologies alongside its SMR program. The agreement formalizes information-sharing and aligns provincial and federal nuclear strategies.

4/24/2026 - United States - Duke Energy’s Robinson nuclear power plant has been cleared for extended operation to 80 years, after the U.S. Nuclear Regulatory Commission completed its fastest-ever subsequent license renewal review. The approval allows the 759 MW Robinson Unit 2 in South Carolina to operate until 2050 under new accelerated federal timelines.

4/29/2026 - United States - The U.S. NRC has approved subsequent license renewals for St. Lucie Units 1 and 2, clearing the Florida Power & Light plant to operate for up to 80 years, with Unit 1 licensed to 2056 and Unit 2 to 2063. The decision follows aging-management reviews for the extended operating period and secures the long-term operation of the two pressurized water reactors.

5/5/2026 - United States - Brookfield and The Nuclear Company have formed a JV to manage the potential completion of the two VC Summer AP1000 units in South Carolina, supporting due diligence and execution if the project proceeds, subject to approvals and a final investment decision.

One of the biggest shifts in the note penned by analyst Brian Lee is the addition of small modular reactors to Goldman's uranium supply-and-demand model, which forecasts cumulative SMR deployments of nearly 46 GW by 2045.

In turn, this would lift its 2045 nuclear generation forecast by about 6% and create an additional 62 million pounds of uranium demand, or a 17% upside to its prior long-term demand estimate.

Global reactor construction tracker, by country:

Years under construction, by country:

Chinese reactors, years under construction:

Lee said uranium spot prices stabilized in the mid-to-high $80s per pound after rebounding in April, supported by buying activity in the Sprott Physical Uranium Trust. Term pricing held near $90 per pound, signaling that utilities continue to accept higher long-term pricing deals.

As new reactors come online, Lee warns of a cumulative uranium supply deficit of 2.3 billion pounds between 2025 and 2045.

Uranium prices will be up and to the right for quite some time...

Latest uranium coverage:

February 2026

• Big Tech Turns To Uranium As Data Center Power Demand Soars (Feb 18) – Discusses tech companies exploring uranium mining/supply deals for reliable data center power.

• No Substitute: Uranium At The Center Of The AI Power Shock (Feb 19) – Covers uranium's role in AI-driven power demand, supply reliability issues, and reactor buildouts.

March 2026

• Oklo And Centrus Signal Progress On America's Nuclear Fuel-Chain Bottleneck (Mar 9) – Joint venture on HALEU deconversion services and fuel-cycle advancements.

• Nano Nuclear Progresses HALEU Transport Package (Mar 16) – Progress on high-assay low-enriched uranium (HALEU) transportation for advanced reactors.

• How To Transport Next-Gen Nuclear Fuel Safely? NANO Nuclear Hits Key Milestone (Mar 20) – HALEU transport package development for multiple fuel types.

• U.S. Must Boost Domestic Uranium Enrichment To Counter Proliferation Risks (Mar 31) – Need for U.S. enrichment capacity expansion amid import bans and market bottlenecks.

April 2026

• Goldman Highlights Global Nuclear Progress Across SMRs And Fuel Chain (Apr 15) – Updates on uranium spot/term pricing, supply-demand models, and fuel chain developments.

• Nuclear Fuel Consortium To Provide Update On Approved Plans Of Action (Apr 23) – Progress on addressing shortages across the full nuclear fuel supply chain (mining to fabrication).

• Uranium Supply Crunch Worsens Amid Kazakhstan's Plan For Strategic Reserve (Apr 30) – Kazakhstan's strategic reserve plans and ongoing global uranium supply-demand mismatch (~$86/lb spot).

May 2026

• DOE's NNSA Removes Enriched Uranium From Venezuela And Japan (~May 9) – HALEU fuel transfers supporting U.S. domestic nuclear supply chain.

• ASP Isotopes Subsidiary Signs MOU With European Nuclear Technology Company For Fuel Supply (~May 11) – Long-term HALEU supply partnership for advanced reactors.

• Uranium – Cameco Guidance Hanging by a Thread, Implications for Market Purchases (May 11) – Cameco production guidance and direct impacts on uranium market/spot purchases.

• Up To $170 Billion Needed To Secure Full Domestic Nuclear Fuel Supply Chain (~May 13–14) – Massive investment requirements for U.S. uranium mining, milling, conversion, enrichment, etc.

Professional subscribers can read the full nuclear note here at our new Marketdesk.ai portal.

Tyler Durden Thu, 05/14/2026 - 22:10

Grenade-Type IED Found At Alabama Dam Raises Alarm Over Critical Infrastructure Threats

Divers recovered and safely detonated a grenade-type improvised explosive device at the J.B. Converse Reservoir dam in Mobile, Alabama, a federally designated critical infrastructure site that supplies the region's drinking water.

Local outlet Fox10TV reports that the Gulf Coast Regional Maritime Response and Render-Safe Team retrieved and detonated the grenade-type IED at the 3,600-acre artificial reservoir, which holds about 17 billion gallons of water and serves as the primary drinking water source for the 350,000 people in the Mobile area.

🚨WHAT THE HELL?!!!!

Divers doing a ROUTINE maintenance check at the Converse Reservoir dam in Mobile, AL...

...just found an underwater IED!!!!

Apparently a grenade-type bomb was sitting submerged at the bottom of a dam that holds an entire city's DRINKING WATER.

It took… pic.twitter.com/Rh5VQMspcU

— Matt Van Swol (@mattvanswol) May 14, 2026

Divers conducting routine maintenance surveys found the device, prompting a multi-agency response that included the Mobile County Sheriff's Office, the FBI Bomb Squad, the Mobile Police Department Explosive Ordnance Detail, the ALEA Bomb Squad, and the Daphne Search and Rescue Team. The Department of Homeland Security was notified of the incident.

"This is an unprecedented threat, and we are fortunate that this device was discovered before it could cause serious damage to our water supply or harm to individuals. We are grateful for the professionalism and competency of our law enforcement partners – as well as the quick thinking of our contractors and divers – in identifying this device and safely destroying it," Bud McCrory, the director of Mobile Area Water and Sewer System, stated.

The incident recalls a 2010 report from Texas, when federal agents warned that Mexican drug cartels were plotting to blow up a border dam. The broader infrastructure security concern today is far more serious, given the millions of illegal aliens who have flooded the nation during the Biden-Harris regime.

Tyler Durden Thu, 05/14/2026 - 21:20

Midsize City Population Growth Remaining Steady: Census Bureau

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

Population growth in medium-sized cities largely remained steady even as the national population barely grew, Census Bureau officials said on May 14.

An aerial view of the Texas Capitol in Austin, Texas, August 4, 2025. Brandon Bell/Getty Images

Midsize cities grew by an average of 0.7 percent from July 1, 2024, to July 1, 2025, compared with 1 percent the year prior, according to the newly released analysis. In comparison, the average growth for the largest cities and large cities was just 0.3 percent and 0.5 percent, respectively, down from 0.9 percent and 1 percent.

Small cities had an average population growth rate of 0.1 percent, down from 0.3 percent.

“Big-city growth slowed significantly between 2024 and 2025, with some major hubs even seeing small declines,” Matt Erickson, a statistician in the Census Bureau’s Population Division, said in a statement. “In contrast, midsized cities found a ‘Goldilocks zone’ where domestic and international migration, paired with new housing, helped prevent the sluggish growth seen in small towns and larger metropolitan centers.”

The new data came several months after the Census Bureau estimated that immigration to the United States plummeted from mid-2024 to mid-2025, amid a Trump administration crackdown on illegal immigration.

A general view of the skyline of Manhattan from the One World Trade Center Tower in New York City on June 15, 2021. Mike Segar/Reuters

The bureau estimated at the time that the country added 1.8 million people, for a growth rate of 0.5 percent.

The bureau classifies cities as: largest cities (at least 250,000 residents), large cities (50,000 to 249,999 residents), medium-sized cities (5,000 to 49,999 residents), and small cities (fewer than 5,000 residents).

Some of the fastest-growing cities are in the medium-sized group, including Princeton in Texas, which grew by 18 percent to 43,524 residents.

Other large population jumps were recorded in the medium-sized cities of Melissa, Anna, and Forney in Texas; Haines City in Florida; Waukee in Iowa; Kuna in Idaho; and Foley in Alabama.

Even when larger cities saw strong population growth, they were often eclipsed by nearby suburbs. Charlotte, North Carolina, for instance, grew by 20,731 residents between 2024 and 2025, numerically more than any city in the country.

The population in nearby Fort Mill, South Carolina, though, jumped by a larger percentage, increasing by 6.8 percent to 38,673.

Fort Worth, San Antonio, and Celina in Texas, and Seattle, Washington, increased the most numerically behind Charlotte.

New York City, easily the most populous city in the country with some 8.5 million people, logged a population decline of 12,196 during the time period in question.

An undated file photograph shows a general view of Sixth Street in Austin, Texas. Rich Fury/Invision/AP

Most growth across cities of all sizes took place in the South, which includes Texas.

Austin crossed the 1 million threshold between 2024 and 2025, marking the 12th U.S. city to reach seven digits in population.

Tyler Durden Thu, 05/14/2026 - 20:55

Major Bank Faces Legal Heat Over Allegations Of Debanking Conservatives

Capital One is under fire once again over allegations that it has denied banking services to gun retailers and other customers viewed as politically conservative, even as President Donald Trump’s executive actions seek to curb such practices.

A Maryland gun store, United Gun Shop of Rockville, recently filed a lawsuit alleging that Capital One, working through payment processor Melio Payments, blocked it from using the bank’s platform for business transactions after flagging its operations in the firearms industry. The store received notices in 2025 and 2026 stating that Capital One and Melio could not serve businesses in that sector, according to the legal complaint.

The case has drawn attention from Consumers’ Research, a conservative watchdog group, which on Thursday issued a “woke alert” highlighting the allegations against the bank.

“Capital One has been caught debanking law-abiding citizens again. It apparently isn’t enough for Capital One to fund and promote racist DEI, climate activism, and extreme transgender policies; the company is also debanking its own customers simply for holding views outside leftist ideology,” Consumers’ Research Executive Director Will Hild said in a statement to The Daily Wire.

🚨 Despite President Trump’s executive order banning debanking, @CapitalOne is already facing new allegations in a lawsuit from a Maryland gun shop.

United Gun Shop claims the bank effectively debanked them — not for fraud, not for any illegal activity, but seemingly because… pic.twitter.com/q6sIIMDBXA

— Will Hild (@WillHild) May 8, 2026

Capital One is among nine large banks under review by the Office of the Comptroller of the Currency as part of that broader inquiry, the outlet pointed out.

Capital One is also facing ongoing litigation in Florida after a federal judge in Miami dismissed a lawsuit brought by the Trump Organization accusing Capital One of politically motivated "debanking," while allowing the claims to be refiled. The suit, filed in March 2025 by the Donald J. Trump Revocable Trust and affiliated entities — originally in Miami-Dade Circuit Court before being removed to the U.S. District Court for the Southern District of Florida — alleges that Capital One abruptly closed hundreds of Trump-linked accounts in 2021 following the Jan. 6 Capitol riot in what the Trump family has described as an act of political discrimination.

U.S. District Judge Roy Altman granted the bank's motion to dismiss on March 20, 2026, calling the original complaint deficient, yet he gave the Trump family until July 2 to file an amended version with stronger evidence. Capital One has denied any discriminatory intent and continues to defend the closures as a legitimate business decision made for legally and regulatorily permissible reasons.

Tyler Durden Thu, 05/14/2026 - 20:30

'Killshot' Is Coming For Earth Warned CIA Remote Viewer Before Recent Death

Authored by Steve Watson via Modernity.news,

A retired US Army major and former CIA-linked remote viewer issued stark final warnings of a devastating solar “Killshot” before his death in March, claiming the current period of heightened solar activity could trigger infrastructure collapse on a global scale.

Retired Major Ed Dames, who participated in the US government’s classified remote-viewing programs during the Cold War, described the event as enormous solar blasts that would knock out power grids, communications and essential services, potentially leading to millions of immediate deaths and widespread societal breakdown.

Dames died at age 76. In his last recorded interviews he tied the timing directly to Solar Cycle 25 and the recent passage of comet C/2023 A3.

Read more 🔗 https://t.co/YoGr2cu9nG ⬇️

— Daily Mail US (@Daily_MailUS) May 13, 2026

Dames was linked to Project Stargate, a declassified US intelligence initiative that ran from the 1970s until 1995. It explored whether psychic phenomena, particularly remote viewing—the claimed ability to perceive distant or hidden targets mentally—could be used for espionage.

The program originated amid Cold War concerns that the Soviet Union was investigating similar psychic capabilities. 

Dames, who had served in Airborne Infantry and later as a tactical electronic warfare officer, transferred into the remote-viewing unit after studying biophysics and Mandarin at UC Berkeley. 

He maintained that remote viewers sometimes supplied intelligence unavailable through conventional means.

The Stargate Project was, at least officially, shut down in 1995 after official reviews claimed it had not delivered reliable operational value.

In one of his last interviews, recently released, Dames stated: “Right now we’re at the beginning of the solar cycle. 25 Solar Max. Solar Max should last for about two years, and the sun’s doing unprecedented stuff. There are more solar spots than there have been in the last 20-something years.”

He continued: “I predict that this Solar Max will be the beginning of the kill shot sequence. But more, more interestingly, intriguingly, the comet C/2023 A3 that’s in the sky.”

“The timing of that appearance and the orbit exactly matches this passing space body with this huge event called the kill shot looming ahead,” Dames further suggested.

“This comet, we described as a passing space body. We didn’t know what it was, a planetoid or a comet, either one that is concomitant with the initiation of the kill shot sequence, and this comet, the trajectory and the timing is a perfect match,” he urged.

Dames warned of the practical consequences of such an event, “You wake up and there’s no power and there’s no water and there’s no gasoline, it’s going to be a bad nightmare scenario. That’s what you’re going to be confronted with. The government is not going to help you.”

He had previously written: “The true devastation of today’s Killshot will be unlike anything we have previously seen in history with solar radiation actually hitting ground level; resulting in the initial deaths of millions with implications resulting in economic collapse, war…”

“More than 30 years ago, we were looking for nuclear war and finding out that our star was going on a rampage.”

Dames first encountered the Killshot concept, he said, while remote viewing during his time in the classified programs. He later built a career teaching survival techniques and selling materials focused on preparing for the predicted event.

Dames’ warnings have drawn renewed scrutiny in light of separate reporting on extensive doomsday preparations by the ultra-wealthy. 

Billionaires are transforming locations into exclusive enclaves and constructing fortified bunkers in anticipation of what they term “the event.”

Local historian Paul George told the outlet: “Only the very wealthy, the billionaires can afford to live in Indian Creek now. Hundreds of millions aren’t gonna cut it anymore.”

These ultra wealthy elites are purchasing private islands in Hawaii, Fiji and New Zealand while building underground shelters. Examples include Mark Zuckerberg’s reported 5,000-square-foot doomsday bunker at his Koolau Ranch property in Hawaii.

Some observers have noted the thematic overlap between Dames’ long-standing “Killshot” scenario and the vague but urgent “event” referenced in these elite preparedness efforts, though no direct connection has been publicly confirmed by the individuals involved.

NASA and NOAA continue to monitor Solar Cycle 25, which has produced significant flares and geomagnetic storms. Severe solar activity is known to threaten satellites, power grids and communications infrastructure.

Astronomers confirm that comet C/2023 A3 Tsuchinshan-ATLAS passed through the inner solar system on its predicted trajectory, again there is no established scientific link to apocalyptic solar events.

Sceptics have pointed out that several of Dames’ earlier timelines for the Killshot did not materialize. Remote viewing itself remains unproven under rigorous scientific scrutiny, and the Stargate Project was ultimately deemed non-operational by its reviewers.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Thu, 05/14/2026 - 20:05

Spencer Pratt Within Single-Digit Territory Of Far-Left L.A. Mayor Karen Bass

A new public opinion survey from Emerson College Polling, a nonpartisan polling center based at Emerson College, shows that far-left incumbent Mayor Karen Bass remains the frontrunner in the Los Angeles mayoral race, though challenger Spencer Pratt appears to be gaining popularity and traction, which has clearly alarmed the Democratic Party.

Local outlet Spectrum News 1 SoCal cited Emerson College's new poll of the L.A. mayoral race, which shows Bass at 30%, Pratt at 22% (gaining ground), and Socialist Councilmember Nithya Raman at 19%.

The poll, conducted between May 9 and 10, came just a few days after the L.A. mayoral debate last Wednesday. An NBC Los Angeles poll showed Pratt dominated, with 88% of respondents saying he won.

🚨 LA MAYOR POLL: A whopping 88% say that @spencerpratt WON the Mayoral debate last night.

Spencer Pratt: 88%
Karen Bass: 7%
Nithya Rama: 5%

It wasn’t even close. pic.twitter.com/EMUmw9sDDs

— Dustin Grage (@GrageDustin) May 7, 2026

Spencer Pratt has been surging in popularity across L.A., thanks to his social media team’s impressive ability to go viral online, generating millions of likes, retweets, and views.

Karen Bass got FOMO. These AI attack ads are crazy desperate. pic.twitter.com/7nJrFISeQH

— Spencer Pratt (@spencerpratt) May 13, 2026

He has been particularly effective in messaging:

• "No More Nakedness": Spencer Pratt's L.A. Mayoral Plan To Restore Order 'In Weeks' Has Democrats In Panic Mode

In L.A., that has not been difficult, as he has simply pointed out the truth: far-left Bass and her administration of leftists in City Hall have transformed the metro area into a DEI kingdom of crime and chaos in just a few short years through failed progressive policies.

Earlier this week, TMZ tried to derail Pratt’s campaign with a piece about how he was not living in an Airstream trailer on his burned-out property in the Palisades, which he blames Bass for failing to protect during the fire.

🚨 JUST IN: After TMZ ran a SMEAR PIECE on him, LA mayoral candidate Spencer Pratt took it to them DIRECTLY on their network — he showed up and PUMMELED the lies

They tried saying he misled people about living in the trailer because his house burned down — that he's at a "hotel"… pic.twitter.com/VCBONdAKJP

— Eric Daugherty (@EricLDaugh) May 13, 2026

Well, that backfired. 

"Raman will drop out and Bass will surge, and in order for Pratt to make it beyond June 2, Bass needs to stay under 50%," political commentator Katie Zacharia noted on X.

Raman will drop out and Bass will surge, and in order for Pratt to make it beyond June 2nd, Bass needs to stay under 50%.

— Katie Zacharia (@KatieZacharia) May 14, 2026

State-level Republicans nationwide should take note of Pratt’s effective campaign strategy and simply copy it. The truth about how Democrats ruined cities with nation-killing progressive policies is very easy to communicate to voters.

Tyler Durden Thu, 05/14/2026 - 19:40