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The Firebirds are rising from the ashes. 

Asian LNG Prices Surge To Highest Since 2022 As Iran War Escalates

Authored by Irina Slav via OilPrice.com,

Spot LNG prices for Asian buyers went up to almost $26 per million British thermal units yesterday for a 5% weekly gain following the resumption of strikes between the United States and Iran.

Spot LNG for Asia traded at $25.908 per mmBtu late on Wednesday, Bloomberg reported, citing unnamed traders, after President Donald Trump said "We took out all of the new equipment that they tried to build along the Strait of Hormuz - some defensive, some offensive ... It was a very heavy attack last night, and we're prepared to do another one any time we want."

Prices in both Asia and Europe had jumped at the end of last week after Qatar's state-owned firm QatarEnergy extended the force majeure on its LNG deliveries into November amid still-blocked transits through the Strait of Hormuz.

Prices in Asia were driven by South Asian buyers, including Pakistan and Bangladesh, seeking spot supply to replace term supply from Qatar that cannot leave the Persian Gulf. Per tender documents seen by Bloomberg, utilities in South Korea, India, Taiwan, and Bangladesh are looking to buy spot cargoes for October and November.

Pakistan, on the other hand, rejected an LNG offer to its last prompt tender earlier this week, as it was priced at over $27 per mmBtu, which the state-owned gas trading company considered too high a price. The cargo was offered by BP.

Recent developments in the Middle East suggest the resumption of normal LNG flows out of the Persian Gulf is nowhere in sight. In light of a seasonal pick-up in demand for gas, chances are that LNG prices will go higher still, likely pricing out some buyers. Gas prices are surging in Europe as well, making it more difficult for gas buyers there to start buying ahead of the winter season.

Tyler Durden Thu, 09/03/2026 - 20:05

Thursday didn’t exist for Kyle Shanahan and the 49ers. They boarded a two-story jumbo jet a little before midnight Wednesday evening, and by the time it touched down in Melbourne, Australia, the sun was shining on Friday morning local time — six full days ahead of the Rams’ arrival for their globe-trotting, season-opening showdown. The...

Flavio Cobolli reached the US Open third round by beating Tristan Schoolkate, celebrating with a hilarious viral quote about loving being himself.

It’s easy to blame television for all that lays us low and then lower. That’s the problem.

Coming off the best start of his season, Will Warren is going to the bullpen — at least for Friday night. 

Dale Henry Spry, 63, and Muse A. Afrah, 61, were identified as the neighbors killed by gunman Carlton Neal Johnson II in a downton Minneapolis shooting Wednesday.

Jobseekers, especially Gen Z, are being targeted with fake, booby-trapped recruitment apps.

Mamdani Has A Nearly 200 Person "Influencer Network" Sometimes Paid Using Taxpayer Money

A new investigation is putting Mayor Zohran Mamdani’s social media operation under scrutiny after revealing that City Hall has cultivated a network of nearly 200 online creators to help distribute information about the administration, according to the New York Post.

The Columbia Journalism Review reports that members of the network receive regular material from the mayor’s communications staff, including announcements, suggested messaging, videos and other content they can incorporate into their own posts.

Much of that communication reportedly takes place in a private Signal group called “NYC Creators Announcements.” The group is overseen by Emilia Rowland, City Hall’s Director of New Media and Cultural Communications, along with members of her staff.

The Post writes that Rowland reportedly earns $175,000 annually. City Communications Director Anna Bhar, who oversees the broader communications operation, is paid $260,000.

The network has roots in Mamdani’s 2025 mayoral campaign, when supportive creators organized around an effort known as Creators4Zohran. After Mamdani became mayor, City Hall established a more formal way of communicating with many online creators and supplying them with material about the administration.

That connection between a campaign era supporter network and an official City Hall communications operation is now receiving attention from government watchdogs. Money is another part of the story.

The CJR investigation did not find that influencers were paid to post favorable coverage of Mamdani. City Hall also says the mayor’s office has not paid creators for collaborations or content production.

The investigation did find, however, that some influencers have received taxpayer funded compensation for work connected to specific advertising or public messaging campaigns run by city agencies.

Influencer marketing itself is not new to New York City government. Agencies have used outside marketing companies and online personalities for public information campaigns for years. According to the reporting, such campaigns have commonly cost between $5,000 and $20,000.

The New York Post also reports that a review of current contracts identified more than $100,000 in spending this year by the Department of Social Services connected to a social media campaign. The underlying three year contract predates Mamdani and was signed in 2025 under former Mayor Eric Adams.

One important question remains unanswered: Which members of the influencer network have received city money, and how much have they received?

Watchdog groups say that information should be readily available so New Yorkers can distinguish between someone independently expressing support for the mayor and a creator who has also had a financial relationship with city government.

There are separate concerns about City Hall’s decision to use Signal. Government communications concerning official business generally have to be retained in accordance with public records requirements. Signal is an encrypted messaging application that includes an option allowing messages to disappear.

City Hall maintains that officials are permitted to use Signal when authorized and says employees still must comply with applicable record retention rules and New York’s Freedom of Information Law. It has not been established publicly whether messages inside this particular group are set to disappear.

Mamdani said his administration intends to comply with legal requirements governing city records and said officials would investigate and correct any failure to meet those requirements.

Nile Berry, an influencer who belongs to the group, told reporters that only a small number of administration officials are able to send messages and described most of the information they distribute as ordinary announcements. He also acknowledged that using Signal could create questions because of the app’s association with private communications.

The story comes as Mamdani’s broader communications strategy is already facing scrutiny, including criticism of the administration’s $54 million Office of Mass Engagement and other publicly funded media initiatives.

There is an important distinction here. The reporting does not show that City Hall simply handed 200 influencers checks in exchange for praising Mamdani.

What it does show is an unusually close relationship between the administration and a large collection of sympathetic online creators. City employees provide material directly to the network.

Some creators in this broader ecosystem have done paid work for city agencies. The operation includes people who previously participated in a campaign era supporter network. Much of the communication occurs through a private Signal channel.

Tyler Durden Thu, 09/03/2026 - 19:40

In this U.S. Open, the top stars keep going down. And the American men’s hopes keep going up. 

The investigation began when a 16-year-old girl's mother reached out to the Santa Ana Police Department after discovering disturbing messages on her child's phone

Harry pledged to take part in the dangerous event after meeting a 102-year-old veteran who had done the same.

Harry pledged to take part in the risky event after meeting a 102-year-old veteran who had done the same.

The fate of the US Senate may come down to a state not usually considered all that swingy: Texas.

The Democratic Socialists of America (DSA) have finally endorsed Nithya Raman for mayor. And notably, she embraced them in return.

Here’s what the 2026 Jets need from Wilson and Hall: more.

Todd Gurley exclusively predicts former Rams teammate Aaron Donald will play against the 49ers in Australia and says the fire is back in the three-time DPOY.

1,000 Days Of Milei

Authored by Michael Talbot via BondVigilantes.com,

One thousand days is a long time in politics...

When I wrote about Javier Milei’s first 100 days in office, Argentina was embarking on yet another attempt to break free from a cycle that had become painfully familiar: fiscal excess, monetary financing, inflation, capital controls and, eventually, crisis. Markets were optimistic, but they had been optimistic before. Argentina has a habit of disappointing even its most enthusiastic supporters.

At the time, Milei inherited an economy in severe distress alongside a reform agenda that many viewed as politically impossible to implement. Today, as Argentina approaches the 1,000-day mark of his presidency, investors can point to something far more tangible: results.

That does not mean the story has been flawless. Economic recovery has come with significant social costs, political controversy remains a constant feature of Milei’s presidency, and accusations surrounding the LIBRA cryptocurrency scandal have created an unwelcome distraction. Yet, taken as a whole, the last 1,000 days arguably represent one of the most successful periods of macroeconomic stabilisation Argentina has experienced in decades.

The road from crisis to reform

When Milei took office in December 2023, Argentina’s economy was under significant strain.

Argentina’s inflation surge into 2024 was largely the consequence of years of fiscal deficits financed by money printing, chronic peso depreciation, capital controls and repeated losses of confidence in economic policy. Global post-pandemic inflation and commodity shocks added to the pressure, but the underlying problem was domestic: too many pesos chasing too few goods in an economy where households had little faith in the currency.

By the time Milei took office, annual inflation had reached 211%, later peaking at almost 290%, while monthly inflation exceeded 25%.

Source: M&G, Bloomberg. 30 June 2026

Since then, inflation has fallen to around 33.5% year-on-year, driven primarily by an aggressive fiscal adjustment, the elimination of monetary financing of government spending, exchange-rate liberalisation and a broader restoration of policy discipline. While favourable factors such as stronger exports, rising energy production and statistical base effects have also helped, the scale of the disinflation suggests that most of the improvement can be attributed to Milei’s economic programme.

Argentina’s experience provides a powerful example that when inflation stems from deep structural fiscal and monetary imbalances, politically painful reform can sometimes prove more effective than gradual adjustment. The diagnosis was hardly controversial. Argentina had spent years attempting to solve fiscal problems through increasingly creative monetary solutions. The outcome was predictable.

Milei rejected gradualism entirely. Instead, he pursued one of the most aggressive fiscal consolidation programmes seen in any major economy in recent history. Subsidies were cut, public spending reduced, government departments streamlined and fiscal balance elevated to a near-sacred policy objective.

The approach was described by supporters as shock therapy and by critics as economic extremism. The reality, however, lies somewhere in between.

Shock therapy is rarely popular because it forces adjustment immediately rather than deferring it into the future. It creates visible short-term pain in exchange for the possibility of long-term gain. However, where fiscal and monetary dysfunction have become deeply embedded, gradual approaches can make the road to recovery longer and more uncertain.

Markets have rewarded policy credibility

Perhaps the clearest indication of progress can be found in financial markets.

Back in March 2024, Argentine sovereign spreads remained firmly within distressed territory. Investors were willing to believe the reform story, but they wanted evidence that the government could deliver. And, looking at economic fundamentals, they have.

Source: M&G, IMF. 30 June 2026

That evidence has increasingly emerged, with all three major rating agencies upgrading Argentina’s sovereign credit profile during Milei’s presidency. Fitch upgraded Argentina to B- in May 2026, citing improved fiscal and external balances, progress on reforms and stronger prospects for reserve accumulation. S&P subsequently upgraded the country to B-, highlighting improved access to financing and reduced macroeconomic imbalances. Moody’s has similarly moved Argentina out of the highly distressed category, pointing to falling default risk and improving economic fundamentals.

Sovereign ratings influence the pool of investors able to allocate capital. Argentina remains firmly below investment grade, but moving away from the distressed end of the spectrum expands the universe of potential buyers and gradually lowers financing costs.

Spreads remain elevated relative to most emerging markets, reflecting Argentina’s history and lingering vulnerabilities. The more notable development, however, is how much this premium has narrowed. With sovereign spreads now hovering around 100bps wider than the broader single-B universe, markets appear to be assigning a significantly higher probability to continued normalisation than was the case just a few years ago.

Source: M&G, Bloomberg, JP Morgan. 30 June 2026

That represents a remarkable shift from where the country stood less than three years ago.

Investment is beginning to follow

One of Milei’s most important achievements may ultimately be the restoration of predictability.

Countries rarely grow sustainably without access to capital. Investors do not require perfection, but they do require a degree of confidence that economic policy will remain broadly consistent. For many years, Argentina offered neither.

The combination of fiscal surpluses, declining inflation and exchange-rate liberalisation has helped strengthen relationships with multilateral lenders and private investors alike. While international market access is still developing, the country’s financing options have broadened considerably compared with the near isolation that characterised previous years.

The IMF relationship has also evolved. Historically, Argentina and the IMF often appeared trapped in a cycle of support packages, missed targets and renewed crises. This period feels different. Rather than financing an unreformed economic model, the IMF has effectively become a partner in a broader stabilisation programme. Whether one agrees with every policy decision or not, this increasingly resembles a reform story rather than another rescue operation.

Economic stabilisation matters because it creates the conditions for investment. Argentina’s natural advantages have never been in doubt. The country possesses world-class agricultural exports, significant mining potential and one of the most important unconventional energy resources anywhere in the world through Vaca Muerta. The challenge has always been converting potential into realised investment.

Encouragingly, foreign direct investment has begun moving in the right direction. Energy and mining projects have attracted growing international interest, supported by regulatory reforms and greater macroeconomic stability. Rating agencies have specifically highlighted improving investment pipelines and stronger prospects for FDI inflows as part of the rationale behind recent upgrades.

This highlights an important point. Fiscal discipline alone does not create growth. Rather, it creates an environment in which private capital becomes willing to invest.

A presidency without blemishes?

None of this should be interpreted as an argument that Milei’s government has been beyond criticism.

The economic adjustment has imposed genuine hardship on many Argentinians. Real incomes initially fell sharply; poverty increased during the adjustment phase and social tensions remain elevated. Even supporters would acknowledge that the benefits have not been distributed evenly.

More recently, controversies surrounding Milei’s association with the LIBRA cryptocurrency project have raised questions around judgement and governance. While the economic reform programme and the scandal are separate issues, governance matters. Investors can overlook many things, but sustained improvements in institutional credibility require high standards of political conduct.

It would therefore be wrong to suggest that the last 1,000 days have been an unqualified success. Public support has proven more resilient than many expected, but the politics remain polarising and the social costs remain real.

Argentina’s history also serves as a reminder that credibility can be lost much faster than it is earned.

Breaking the cycle

Ultimately, the significance of Milei’s first 1,000 days extends beyond lower inflation, tighter fiscal policy or stronger sovereign credit ratings.

Argentina has delivered periods of improvement before, only for policy discipline to fade and old vulnerabilities to re-emerge. The country’s economic history is littered with false dawns. Understandably, many investors remain cautious about declaring victory too early.

The real test will be whether today’s gains prove durable.

What has changed, however, is that investors are no longer debating whether stabilisation is possible. Instead, they are increasingly debating how far the recovery can go. That is a very different conversation from the one that existed in late 2023.

Argentina may not yet be fully repaired. Significant economic, political and social challenges remain. However, after decades of recurring crises, policy reversals and disappointed expectations, the country appears to be moving on to a more sustainable path than many believed possible just a few years ago.

For a country that has spent much of its modern history disappointing even its most optimistic supporters, that alone represents meaningful progress.

Tyler Durden Thu, 09/03/2026 - 19:15

A federal judge and even the Justice Department are letting Big Tech run roughshod over the digital marketplace, and publishers, creators and consumers will pay the price.

CHP is launching a 78-hour Labor Day Holiday Enforcement Period (HEP) to ensure that drivers are not driving under the influence of alcohol or drugs. LAPD will also have additional officers on patrol from August 17 through Labor Day.