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'Door Is Not Closed': Mediators Still Press For Iran Deal After US Demanded 20-Year Halt To Nuclear Program

2026-04-13T16:19:20.558-07:00

'Door Is Not Closed': Mediators Still Press For Iran Deal After US Demanded 20-Year Halt To Nuclear Program

There's currently some consensus among international reports that the weekend US-Iran peace talks in Pakistan fundamentally broke down over the nuclear issue. The question of Iran's enriched uranium has at times over the course of the war taken a front seat and at other times a back seat when it comes to Washington's evolving justifications and war aims in launching Operation Epic Fury.

On Monday a US official has been cited in Axios as saying Iran must halt its nuclear enrichment program for 20 years to end the war, scaling back from an earlier White House demand for a permanent end to enrichment. And that's when sources say the Iranians countered with a shorter "single digit" period.

via Al Jazeera

The unnamed sources explained that during talks in Islamabad the Iranian mediators countered with a proposal to halt enrichment for less than ten years.

Multiple Middle Eastern countries are still working to mediate a resolution, as both Washington and Tehran moved away from maximalist positions on enrichment. Before the talks, Trump demanded a permanent halt, while Iran pushed for a deal allowing a civilian nuclear program without additional restrictions.

Al Jazeera reports of where things stand in the following:

Pakistan, which spent weeks positioning itself as a mediator and succeeded in bringing both sides into the same room, emerged with its role intact. But officials acknowledge the harder phase now begins — getting American and Iranian negotiators back into talks before their differences explode into full-fledged war again.

“Pakistan has been and will continue to play its role to facilitate engagements and dialogue between the Islamic Republic of Iran and the United States of America in the days to come,” Pakistan’s Deputy Prime Minister and Foreign Minister Ishaq Dar said in a statement after the conclusion of the talks.

And Axios in a separate follow-up report also confirms:

Pakistani, Egyptian and Turkish mediators will continue talks with the U.S. and Iran in the coming days in an effort to bridge the remaining gaps and reach a deal to end the war, according to a regional source and a U.S. official.

All parties still believe a deal is possible. The mediators hope that narrowing the gaps could enable another round of negotiations before the ceasefire expires on April 21.

The two sides remain divided over Iran’s stockpile of 60% enriched uranium, with Tehran having offered to dilute the stockpile if US sanctions are lifted, while the US apparently required that Iran export all the material.

President Trump has even openly talked about possibly ordering a military raid to seize the stockpile - much of it believed buried deep underground - in what would be an extremely risky and daunting mission.

Tehran has meanwhile accused Washington of making "excessive demands" - with Foreign Minister Abbas Araghchi having alleged negotiations collapsed because the US changed its position late in the process.

"In intensive talks at the highest level in 47 years, Iran engaged with the US in good faith to end war," he earlier wrote on X. He added: “But when just inches away from ‘Islamabad [Memorandum of Understanding],’ we encountered maximalism, shifting goalposts, and blockade. Zero lessons earned."

Tyler Durden Mon, 04/13/2026 - 16:40
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The Strait Of Hormuz Crisis Exposes A Fatal Flaw In Economic Thinking

2026-04-13T14:19:29.234-07:00

The Strait Of Hormuz Crisis Exposes A Fatal Flaw In Economic Thinking

Authored by Kurt Cobb via Resource Insights,

Even a 4–5% loss in global energy supply could translate into a comparable drop in economic activity due to energy’s central role in all production.
Disruptions in oil and LNG flows through the Strait of Hormuz are already removing a significant share of global energy, with cascading impacts across industries.
Rising energy costs trigger widespread knock-on effects—from food and travel to semiconductors—potentially leading to a severe global recession.

A priest, an engineer, and an economist are stranded on a desert island. The first order of business is to get some food. The priest suggests that they all pray. The practical-minded engineer suggests that the three men make a net to catch some fish. But where will they find the necessary materials? The priest and the engineer turn to the economist and ask him if he has any ideas. The economist replies, "Assume a fish."

This well-worn economist joke summarizes one of the chief flaws in contemporary economic theory.

That theory almost completely ignores the role of physical resources, assuming they will always be available in the quantities we need at prices we can afford at the time we need them. When those resources aren't available, that theory begrudgingly accepts that there will be some damage to economic activity, but tends to greatly underestimate the impact.

This conceptual flaw explains why economists in most financial institutions and governments, and thus investors, are not especially alarmed at the loss of energy resources, as stock market indices remain not too far from their recent highs.

For a good summary of how contemporary economic theory goes off the rails, Australian economist Steve Keen offers a mercifully brief and comprehensible explanation. Here I will relate one critical part of that explanation. About 5.7 percent of U.S. GDP is devoted to procuring and distributing energy. Most economists will tell you that a 10 percent decline in energy availability would have a small effect on the U.S. economy. They would take the percentage of the economy devoted to energy, in this case 5.7 percent, and multiply it by 10 percent to arrive at a 0.57 percent reduction in economic activity.

This conclusion is utter nonsense and not even close to what the effects would be.

The reason is that energy is the master resource. It cannot be treated like other resources. Energy is the resource that makes all other resources available. Nothing gets done without energy. The correlation between economic activity and energy use is 0.9 (where 1.0 represents a perfect correlation). This should come as no surprise. When the economy is growing, energy use grows with it as energy fuels the economic activity that pushes growth.

What this implies is that a 10 percent reduction in energy availability is much more likely to result in a decline in economic activity closer to 10 percent than to one-half percent. For comparison, the real GDP of the United States fell 4.3 percent during the Great Recession, which lasted from December 2007 through June 2009.

So, how much energy is currently being denied to the global economy by the closure of the Strait of Hormuz? No one knows for certain. We do know that liquefied natural gas (LNG) exports from Qatar were previously transiting through the strait. And, close to 20 percent of the world's oil supply was also passing through the strait on a daily basis.

None of Qatar's LNG exports are currently passing through the strait. Some estimates say 12 percent of the world's oil is now prevented from leaving the Persian Gulf (though a key pipeline in Saudi Arabia that sends oil to the Red Sea has now been damaged and may add to the total outage). Some oil cargoes from Iran have left the Persian Gulf, and Iraq may soon also send cargoes. Some oil is now being diverted via pipeline to ports other than those on the Persian Gulf. Those pipelines may be attacked as the war continues, so the amount of oil previously exported via the Strait of Hormuz that is being diverted through them could decline.

Okay, here's some math to help you sort out what this all means:

1. Natural gas exports coming from Qatar are no longer being shipped. According to the U.S. Energy Information Administration, in 2024, Qatar provided 3 percent of the world's natural gas, primarily in the form of LNG. Since natural gas provides about 23.5 percent of the world's energy, by multiplying 3 percent by 23.5 percent, we arrive at a loss of 0.7 percent of the world's total energy. It doesn't seem like much, except the effects are quite uneven. In the United States, we fuel our economy with pipeline natural gas and send the extra abroad both via pipeline and LNG freighters. But 42 percent of Taiwan's electricity is generated using LNG imported primarily from the Persian Gulf. That's a huge hit. And, lack of electricity spells trouble for industry, including the Taiwanese semiconductor industry, which supplies much of the world. Of course, Taiwan will seek out other sources of LNG. But will the country be able to find LNG in sufficient quantities? LNG is usually delivered under long-term contracts, and only a small fraction of it is available in what is called the spot market, which isn't committed under long-term arrangements.

2. The situation with oil is much worse. Oil provides about 31.5 percent of total world energy. Losing 12 percent of it means that the world has lost about 3.8 percent of its energy supply. Again, it may not seem like much, but it is a commodity that has very broad and critical energy and non-energy uses in the economy, for example, as the basis for gasoline, diesel, heating oil, and jet fuel; as a feedstock for many petrochemicals, including plastics; and as a lubricant for countless machines and vehicles worldwide. That loss of oil availability has already had huge impacts—and has sent prices soaring because people and companies feel they cannot do without these oil products.

We must also keep in mind that the 12 percent estimate may be too small and that the loss is cumulative. Less oil is being delivered into the global economy every day the Strait is closed. As stored oil is depleted, the situation will get desperate, and prices will move much higher. Again, effects are uneven. Countries that rely on imports and aren't wealthy will suffer the most.

3. So let's put the loss of oil and natural gas together to arrive at a total loss of 4.5 percent of the world's energy supply. Since economic activity and energy are closely correlated at 0.9, we can multiply 4.5 percent by 0.9 to get about 4 percent of economic activity potentially subtracted from the world economy every day that the Strait of Hormuz remains closed. As mentioned above, the Great Recession caused a 4.3 percent drop in economic activity in the United States. So, it would appear that we are on track for consequences almost as severe as those of the Great Recession if this energy loss continues for much longer.

But this seriously understates the case. The Great Recession was primarily a financial crash. Though oil prices were high, there was no abrupt cutoff of supply to the market. Now, however, loss of energy and related chemical feedstocks is having many knock-on effects on the world economy. For example, rising costs for plastics will tend to curtail the consumption of such products. Rising fuel costs will lead to more expensive air travel as airlines pass fuel costs on to passengers. That means there are likely to be fewer passengers as some choose to fly less often and others are simply priced out of the market altogether. And that means further knock-on effects as fewer hotel rooms are booked and fewer rental cars are rented. Rising diesel and fertilizer prices (nitrogen fertilizer is made primarily from natural gas) will mean higher crop production costs, which are passed on to food processors and ultimately to consumers.

In addition to the squeeze on energy and non-energy products derived from oil and natural gas, about one-third of the world's helium (a co-product of natural gas reservoirs) is now unavailable. Helium is essential for the production of semiconductors. Manufacturers of semiconductors will have to pay much more for helium or curtail semiconductor production. If those manufacturers successfully purchase what they need, then other users such as hospitals (in MRI machines), university researchers, and welders (who use it as shielding gas to make strong welds) will have to go without.

In general, as consumers and businesses pull back on spending due to rising costs and economic uncertainty, demand for many products will fall and companies will be forced to cut back on production and ultimately on workers. As workers are laid off, this reduces overall demand further, which can lead to a cascade of shrinking economic activity.

Even more danger lies ahead. If the war continues and threats on both sides to destroy oil and natural gas infrastructure are carried out in part or in whole, the world could be denied even more oil and natural gas - not just for the duration of the war, but for years afterward, since it would take years to rebuild this infrastructure. Some losses might be permanent, for when underground reservoirs of oil and gas are closed in, they can be damaged for various reasons I won't go into here.

It is not easy for the economy to adjust to such a shock, and the most likely outcome is a severe recession.

Widespread destruction of oil and natural gas infrastructure in the Persian Gulf could quickly lead to a worldwide depression from which it would be difficult to emerge.

We cannot, as the joke above states, just "assume a fish" or, in this case, assume that oil and natural gas deliveries will resume soon at the levels we require at the time we need them to at prices we can afford.

Rather, we are now obliged to take seriously the possibility that our energy-drenched lives will have to be curtailed in ways previously unthinkable.

The risks of a fossil-fuel dependent economy that runs on a just-in-time basis have now become manifest, and we have no choice but to adapt.

Tyler Durden Mon, 04/13/2026 - 15:40
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"Create A Crisis": American Association Of University Professors Sponsors Anti-ICE Campaign

2026-04-12T17:19:16.090-07:00

"Create A Crisis": American Association Of University Professors Sponsors Anti-ICE Campaign

Authored by Jonathan Turley,

“Create a crisis.”

That call is made in a new campaign sponsored by the American Association of University Professors to force “colleges to drop their contracts with ICE’s key corporate enablers.”

Despite years of criticism over the purging of faculty ranks of conservatives and libertarians, university professors continue to double down on far-left ideology that is now an orthodoxy in higher education.

I previously wrote about the AAUP’s ideological shift in my book, The Indispensable Right: Free Speech in an Age of Rage. After that book, the AAUP then selected Todd Wolfson, a far-left activist, as its new president.

Wolfson ran on the pledge to make AAUP a “fighting organization” for social change.

After his selection, Wolfson has called Trump supporters “fascists” and demanded boycotts of Israel.

Given that history, it was little surprise to see the AAUP’s sponsorship of this campaign, as reported by the College Fix.

The campaign is also funded by Coefficient Giving, associated with liberal billionaire Dustin Moskovitz and his wife Cari Tuna. They have been criticized for reportedly funding groups pushing defund police and other radical agendas.

AAUP joined this campaign with Young Democratic Socialists of America, Sunrise Movement, and the Workplace Justice Lab at Rutgers University. It includes a toolkit instructing students to “create a crisis for university admin through an escalating campaign.”

The campaign seeks to organize to combat the “Trump regime” and its “terrorism”: “When students and workers join together in action, we can force our schools to stop funding and normalizing ICE collaborators and take down the whole regime.”

They are targeting companies such as Enterprise, Flock, ICE Air Carriers, Hilton, and Target.

The campaign states further that “ICE, and the Trump regime generally, cannot function without the consent and collaboration of the business world. Breaking companies from ICE is the central axis for generating enough leverage to stop the regime’s terrorization campaign.”

So university professors are funding a campaign that actively seeks to create a crisis on campuses. It takes a position as an organization that immigration enforcement is a form of terrorism. The silence among faculty is deafening. Rather than objecting that the AAUP should focus on issues related to academic freedom and protections for its members, there have been virtually no objections to the organization’s ideological agenda.

It is evidence of the new orthodoxy in higher education and the refusal of administrators and faculty to make any meaningful change in their intolerance for opposing views.

Many departments no longer have a single Republican faculty member in this academic echo chamber.

A Georgetown study found that only 9% of law school professors at the top 50 law schools identify as conservative — almost identical to the percentage of Trump voters in the new poll.

There is little evidence that faculty members are interested in changing this culture or creating greater diversity at schools. In places like North Carolina State University, a study found that Democrats outnumbered Republicans 20 to 1.

Yale University has finally achieved the academic version of Nirvana, a state of perfect peace and enlightenment. A recent study found that the faculty had finally purged every Republican donor from its ranks.

According to a recent report from the Buckley Institute, there is now not a single Republican found across 27 of 43 departments at Yale University. In a nation roughly evenly divided between Republicans and Democrats (with a slight advantage to the GOP), only 3 percent are Republicans across all Yale departments.

The hostility to opposing views is impacting our students. A new study offers additional data on this problem, showing that almost 90% of students misrepresent their views in class and on assignments to satisfy faculty by adopting more liberal views.

In the meantime, the small number of dissenting faculty have no real voice, particularly among legal academics. I have previously written about the similar liberal agenda of the American Bar Association despite plunging membership among lawyers. The ABA now represents just 17 percent of the bar.

The AAUP currently has only 44,000 to 45,00 members. There are an estimated 1.5 million university and college professors in the United States. Both the ABA and AAUP have become captive to the most ideological elements of their membership. That agenda has overwhelmed the original apolitical mission of these groups.

This orthodoxy will continue until donors refuse to support universities that do not take meaningful action to restore diversity in the faculty ranks. The AAUP’s radical agenda is only the latest example of how higher education remains a hardened ideological silo. These faculty members have shown again and again that they are unwilling to change this culture.

Only donors can force reform by cutting off their contributions or directing them to schools with a proven commitment to intellectual diversity.

Tyler Durden Sun, 04/12/2026 - 17:30
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An Actual Smart Fix: How Waymo And Waze Are Tackling Potholes In San Francisco

2026-04-12T15:19:38.355-07:00

An Actual Smart Fix: How Waymo And Waze Are Tackling Potholes In San Francisco

A smart new approach to fixing road issues is taking shape in San Francisco—and honestly, it’s finally a good idea.

Waymo, known for putting driverless cars on city streets, is now teaming up with Waze to help identify potholes. Using data from its self-driving vehicles, Waymo can detect rough road conditions and automatically flag them in the Waze app, according to a new report from NBC.

Drivers using Waze can already see these reported potholes, but the bigger impact comes from Waze’s “Waze for Cities” program. Thousands of cities use it to collect real-time road hazard data, giving local agencies a clearer picture of where repairs are needed.

The report notes that San Francisco officials say this won’t replace existing systems like 311 reports, but it adds another valuable layer of information. Crews still aim to fix major issues within a few days, while also making sure all neighborhoods—not just high-traffic areas—get equal attention.

This kind of tech-driven system actually makes a lot of sense. Bringing something like this to places like New Jersey or New York could seriously improve how quickly and fairly road repairs get handled.

Before partnering with Waymo, Waze had already developed a crowd-sourced approach to identifying road hazards like potholes. Drivers using the app could manually report issues in real time, tagging exact GPS locations of potholes, debris, or rough road conditions, which were then shared with other users to improve routing and safety.

Over time, Waze also leveraged passive data—such as repeated sudden decelerations or erratic vehicle movement patterns—to infer the presence of road irregularities without explicit reports. This combination of active user input and behavioral data allowed Waze to build a dynamic, continuously updated map of road quality, laying the groundwork for more automated detection methods later explored in collaborations with autonomous driving systems.

Tyler Durden Sun, 04/12/2026 - 15:55
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Climate Organization Behind Anti-ICE Protests Is Leading May 1 School Walkout Plan, Parent Group Reports

2026-04-11T18:19:23.566-07:00

Climate Organization Behind Anti-ICE Protests Is Leading May 1 School Walkout Plan, Parent Group Reports

Authored by Aaron Gifford via The Epoch Times (emphasis ours),

One of the main organizations behind the recent protests against Immigration and Customs Enforcement (ICE) operations is encouraging children to walk out of class en masse next month to help promote its agenda, which includes achieving what it said are “Eco-socialism, [a] multi-racial democracy, and Green New Deal legislation,” according to a April 8 report by representatives of parent group Defending Education.

Organized by the Sunrise Movement, hundreds of young climate activists march to the White House to demand that U.S. President Joe Biden work to make the Green New Deal into law in Washington, DC, on June 28, 2021. Chip Somodevilla/Getty Images

The Sunrise Movement, during its March 17 online membership meeting, called on schools to “train up” employees and students to disrupt the federal government ahead of planned May 1 “May Day” protests as part of an ongoing “political revolution” to “structurally change the foundations of this country,” according to slides Defending Education, a nonprofit opposing indoctrination in classrooms, obtained from a tipster who attended the meeting.

The Sunrise Movement, according to the slides and its website, describes itself as an anti-President Donald Trump “climate revolution” group that advocates socialism, supports a rainbow coalition of the multi-racial working class, and calls for an end to the “billionaire” two-party political system.

In addition to mass school walkouts, the organization is also calling for more disruptions to Hilton hotels, which have housed ICE officers, according to the slides. Past actions included calling for boycotts of the hotel chain and engaging in “wide awake” events where protestors gathered outside of Hilton-branded hotels and made as much noise as possible to prevent ICE officers—and everyone else staying there—from sleeping.

Another slide illustrates a domino effect that starts with the ideological conversion of students and young people and spreads to teachers, customer service workers, city service workers, factory service workers, shipping and transportation workers, and ultimately “military and police defections.”

“They have zero reservations about using children to advance their political ideology,” Rhyen Staley, Defending Education research director, told The Epoch Times. “These kids are being used for their propaganda.”

The Sunrise Movement was frequently listed in an earlier report produced by Staley that identified 357 protests and walkouts at middle schools and high schools so far this year. He said the organization, backed by wealthy donors, recruits students via social media and provides signs used at the protests.

The slide presentation is not currently on the Sunrise Movement’s website, but the information noted in it is contained in different pages throughout the site, including a “student rise-up” guide.

“May Day 2026 is our chance to practice mass non-cooperation, prove our power so we can pick bigger fights, and set the movement’s agenda with clear demands,” the guide says.

“On May Day 2026, students at hundreds of schools are walking out, rising up, and disrupting business as usual.”

Staley anticipates participation from K-12 students across the country, especially in Minnesota, Oregon, Washington, and California. Most of them, he said, don’t necessarily agree with or understand the ideology they’ll be walking out for; it’s just a chance to get out of class.

He previously told The Epoch Times that teacher unions are connected to public school protests nationwide.

Becky Pringle, president of the National Education Association (NEA) teachers’ union, appeared in a Sunrise Movement video two days before the Jan. 30 “National Day of Action” coordinated by the coalition NationalShutdown.org.

“On behalf of the education professionals who belong to the NEA ... thank you, Sunrise, for standing on the front lines in Minneapolis and in so many cities across our nation, demanding justice in all forms,” Pringle said in the video.

Staley said these events exacerbate what he said is an ongoing discipline crisis in public schools. Districts might not have updated policies to address walkouts or delegate responsibility to teachers, who might only deduct class participation points with no further discipline for skipping class without an excused absence. School officials often don’t understand how freedom of speech protections apply in school settings and fear they’ll be sued for First Amendment violations if they don’t allow students to participate in walkouts.

“They don’t want nastygrams [from attorneys] and the bad attention,” he said. “They’d rather deal with the fallout from just a few parents afterward.”

Safety is another concern, given the heightened fear of terrorism. A massive May 1 mobilization of children is a dangerous idea right now, Staley said.

Defending Education urges parents to talk with their children about the consequences of skipping classes to promote politics they don’t necessarily support. Teachers can also use this current event as a teaching moment and challenge students to state their views in writing as if they were submitting a letter to Congress or their local newspaper.

“[Students’] responsibility is to be as educated as possible,” he said, “so [they belong] in a classroom.”

The Epoch Times reached out to the Sunrise Movement for comment but did not hear back by publication time.

Janice Hisle, Savannah Hulsey Pointer, and Darlene McCormick Sanchez contributed to this report.

Tyler Durden Sat, 04/11/2026 - 18:40
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It's A MMIWG2SLGBTQQIA+ World And We're Just Living In It

2026-04-11T16:19:35.488-07:00

It's A MMIWG2SLGBTQQIA+ World And We're Just Living In It

Authored by Rick Moran via PJMedia.com,

What is MMIWG2SLGBTQQIA+? It might be a new, super-strong password. Maybe it's a Gen-Whatever code-like thing that's sweeping the internet, like "6-7" or something.

If only it could be that mundane.

In fact, MMIWG2SLGBTQQIA+ is an all-inclusive, all-encompassing, balls-to-the-wall, slam bang, wham-bam-thank-you-ma'am acronym for the totality of the gender bending, sexually "unique" population of Canada.

For the record, as Jim Treacher helpfully points out, it stands for "Missing and Murdered Indigenous Women and Girls, Two-Spirit, Lesbian, Gay, Bisexual, Transgender, Queer, Questioning, Intersex, Asexual, and "additional identities ("+").

The excitement was started by a Canadian New Democratic Party member of parliament, Leah Gazan, who complained that not enough money was being spent to "deal with the ongoing genocide of MMIWG2SLGBTQQIA+."

NDP MP Leah Gazan condemns Budget 2026 for cutting $7B from Indigenous Services Canada and Crown Indigenous relations.

"They provided $0 to deal with the ongoing genocide of MMIWG2SLGBTQQIA+," she said.

"Rates of violence are increasing, and the PM is turning a blind eye." pic.twitter.com/G0QfVjNpNB
— Juno News (@junonewscom) April 8, 2026

Budgeting for each and every identity, preference, and fantasy spirit in the MMIWG2SLGBTQQIA+ community would blow up the Canadian budget.

I fondly recall when sexual preference identities were simple: LGB and maybe T, XYZ, believe you me. It was easy. It was a simpler time then. We didn't have to worry about offending someone by using the wrong pronoun. We didn't have to worry about making some poor, disturbed "T" or "Q" explode in tears from being misgendered.

It would be so much easier (and we'd be less likely to offend) if the MMIWG2SLGBTQQIA+ "community" would just walk around with name tags identifying which gender they are, what their sexual identity is, and most importantly, what pronouns they prefer to be referred to.

Yes, that's a joke. No Nazi "Star of David" references, please.

Not that I'd use them. But since misgendering is going to be an Olympic sport in 2030, it would be helpful to know who we should insult.

Treacher tried and failed to keep a straight face in reporting on this phenomenon.

Okay, for real, this is a serious topic. You don’t want to see women kidnapped and murdered.

Not most women, anyway. I mean, there are names that come to mind…

But no. Nobody should go through that.

Mostly.

And of course, since that’s such a long acronym and that woman just rattled it off like it’s a normal thing to say, people are having some fun with it today. “Got my new password!” That sort of thing.

There’s a British comedian named Damian Slash who has perfected a sort of straight-faced satire of… liberal excesses, let’s put it that way. Here he is explaining why MMIWG2SLGBTQQIA+ is no joke.

MMIWG2SLGBTQQIA+ is not a joke pic.twitter.com/VMLFVvMPCn
— Damien Slash (@damienslash) April 9, 2026

The internet being the internet, there was a slanderous fake news take on this story that claimed Canada was updating its LGBTQ+ acronym to MMIWG2SLGBTQQIA+.

Pink News, whose goal is to "empower generations to embrace and shape the future - making the world a gayer place," says that simply isn't true.

"She [Gazan] used MMIWG2SLGBTQQIA+ as a catch-all term," says Pink News.

"Catch-all?" Really? That's a pretty wide net to use as a "catch-all."

"Various social media sites began reporting that Canada has now officially updated the LGBTQ+ acronym to MMIWG2SLGBTQQIA+, which isn’t the case," we're informed by Pink News.

It's impossible to parody leftists who are blissfully unaware of their own stupidity.

Okay, so why is this so annoying? Why does this bug me so much? Why is liberalism so irritating?

Because that’s what’s going on here. It’s not about making fun of people who are in trouble. It’s not about making fun of these women.

It’s about not just being able to say that. That these women are in trouble. They need help. Just say that they’re missing women. They’re possibly murdered. Just say that.

But that’s not inclusive.

Precisely. If this really were about saving lives, they wouldn't use code that's impossible to say with a straight face or highfalutin "all-inclusive" descriptions of what these people's preferences are when it comes to who they love or prefer to sleep with.

It's pretentious bull. And they do their cause no good by employing acronyms solely to be "inclusive" while failing to see it as the problem.

Tyler Durden Sat, 04/11/2026 - 17:30
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Texas To Face $700 Million In Federal Penalties For SNAP Errors Through 2027

2026-04-11T14:19:27.552-07:00

Texas To Face $700 Million In Federal Penalties For SNAP Errors Through 2027

Authored by Sylvia Xu via The Epoch Times,

Texas is expected to pay $708 million more by 2027 to the federal government in penalties for erroneous distributions from the Supplemental Nutrition Assistance Program (SNAP).

The state officials released the cost in a presentation to the Senate Committee on Health and Human Services on April 8.

The state payment error rate was estimated to be nearly 9 percent in fiscal year 2025, totaling $627 million in erroneous payments.

Under the One Big Beautiful Bill Act, Texas will need to share an additional food stamps program cost of $708 million, 10 percent of the state’s total program benefits, based on its error rate, beginning October 2027.

Currently, the federal government fully funds the food stamps program, while states only need to pay half of the administrative expenses.

In fiscal year 2024, Texas received nearly $7 billion in federal funding and paid roughly $470 million for administrative costs.

Starting in October 2026, the states will need to share the administration costs at a rate of 75 percent. By 2027, Texas is expected to pay about $826 million more after adding in administrative fees of $117 million.

To avoid that result, Texas needs to bring its error rate down to 6 percent before the fiscal year ends this September.

In Texas, more than 3.2 million residents benefit from the food stamps program as of December 2025, according to U.S. Department of Agriculture data.

A family of four can receive a maximum of $994 per month on a Lone Star Card, which can be used like a debit card at any store that accepts SNAP.

Starting on April 1, SNAP recipients cannot buy candy or sweetened drinks in Texas with their Lone Star Cards.

Improper Payments

The federal government allocated nearly $100 billion to the food stamps program in fiscal year 2024; however, roughly $11 billion of that total was attributed to improper disbursement.

The food stamp error rate doesn’t come from fraud by people receiving the benefits, but from states making mistakes in determining who gets benefits and how much they receive.

Mistakes arise when beneficiaries forget to report changes in income or circumstances, or when government offices commit errors during case processing, according to the Texas Health and Human Services.

Food stamp errors accounted for 7 percent of the approximately $162 billion in improper payments recorded across 68 federal programs in fiscal year 2024, according to a report from the U.S. Government Accountability Office.

Since fiscal year 2003, cumulative federal improper payments have amounted to an estimated $2.8 trillion. The actual amount of improper payments may be significantly higher, according to the report.

Tyler Durden Sat, 04/11/2026 - 16:20
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D.C. Economy "Under Strain," Faces Biggest Spending Cuts Since Great Recession

2026-04-10T14:19:04.227-07:00

D.C. Economy "Under Strain," Faces Biggest Spending Cuts Since Great Recession

The U.S. Bureau of Economic Analysis released its state-level real gross domestic product data on Thursday, revealing a sharply uneven economic landscape in the fourth quarter of 2025, with boom times in North Dakota contrasting with a sharp slowdown spreading across the Mid-Atlantic, especially in Washington, D.C.

"From a regional perspective, real GDP increased in 35 states in the fourth quarter of 2025, with the percent change at an annual rate ranging from 3.8 percent in North Dakota to –8.3 percent in the District of Columbia and remaining unchanged in Indiana and Maine," BEA wrote in the report.

The fourth quarter coincided with a 43-day government shutdown from Oct. 1 through Nov. 12, a disruption that likely had an outsized effect on the Washington, D.C. economy given the metro area's heavy reliance on federal workers, procurement, contracting activity, and the broader consumer spending tied to government.

But let's not forget that the D.C. economy is already dealing with a spending slowdown linked to the Trump administration's move to clean up waste, fraud, and abuse. To this day, DOGE units are still operating in agencies and trimming the DEI fat.

Yesim Sayin, executive director of the think tank D.C. Policy Center, was quoted by the Washington Post late in 2025 as warning about recession risks in the D.C. economy.

"Death by a thousand cuts," Sayin told WaPo. She said the significance of 2025 lies less in any single data point and more in the earthquake it has delivered to the very bedrock of the city's long-term outlook.

"This isn't just a blip," Sayin said. "What this year has done is change the trajectory of the District's economy."

According to the Cato Institute, the 2025 federal workforce reduction was the largest peacetime reduction ever. That drop was 9% of the total workforce.

D.C. Policy Center's latest report warns that D.C. has entered a slower-growth era and can no longer rely on population gains, employment growth, and rising revenues to offset inefficiencies and soaring costs.

The think tank warned:

The city’s current fiscal framework was built during a period of steady growth, when rising population, expanding employment, and increasing property values supported reliable revenue gains. That environment has weakened but spending commitments have not adjusted at the same pace. Recent budgets reflect this tension clearly. In this fiscal year (FY 2026), roughly 10 percent of approved general fund spending—about $1.4 billion—is being financed with past savings rather than with recurring revenues. At the same time, the adopted financial plan assumes a reduction of $839 million in FY 2027 spending, a cut of more than six percent. [4] The District has not faced adjustments of this scale since the Great Recession.

This is a system under strain. Growth has not returned, as hoped, to ease these pressures, and as revenues flatten in real terms, the city faces increasingly constrained choices.

For years, the Mid-Atlantic economy rode a wave of federal spending that poured into local economies from Northern Virginia to Washington, D.C., to Baltimore, Maryland, and into Delaware, helping sustain an unbalanced economy heavily tilted toward government.

Now, as growth slows and residents and businesses leave, the region's political elites - ruled by Democratic Party queens and kings in their 'DEI Kingdoms' - are facing hard realities: higher taxes will only trigger a greater exodus and spark even more backlash from both sides of the political aisle.

The road to political change in the Mid-Atlantic was accelerated by the Trump administration's DOGE, which sought to eliminate fraud, waste, and abuse across many agencies, including USAID.

We'll leave you with a message from Dean Woodley Ball, Senior Fellow at the Foundation for American Innovation, a Policy Fellow at Fathom, and Visiting Fellow at Heritage Foundation...

My plan is to leave DC for Virginia before the next mayor is sworn in, or shortly after at the very least.

DC is incredibly vulnerable. It has the following major defects:

1. An incompetent and corrupt government that does not provide basic services effectively

2. A… https://t.co/n3gXenwrZX
— Dean W. Ball (@deanwball) April 10, 2026

"My plan is to leave DC for Virginia before the next mayor is sworn in, or shortly after at the very least."

Tyler Durden Fri, 04/10/2026 - 14:40
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The Economic Destruction Of Trump's War Goes Far Beyond High Gas Prices

2026-04-09T15:19:07.304-07:00

The Economic Destruction Of Trump's War Goes Far Beyond High Gas Prices

Authored by Connor O'Keeffe via the Mises Institute,

For the past six weeks, as this US-Israeli war with Iran has played out, the economic impact of the conflict has gotten a lot of attention. And rightfully so.

As anyone who’s consumed any news about this war knows well by now, the Strait of Hormuz is a major energy chokepoint, the Iranian government did exactly what they said they were going to do if Trump and Netanyahu ordered this attack and started blocking ships tied in any way to the government’s attacking them from passing through the Strait, and the US, Israeli, or really any other government have not been able to do anything about it.

However, throughout all of this, most of the discourse about the economic impacts of the war has focused on the rising prices drivers are facing at the gas pump. That isn’t surprising, as gas prices are an early cost that impact consumers directly.

But the emphasis on pain at the pump threatens to badly understate the economic damage of this war. And it helps feed the false impression that, if this new attempt at a ceasefire holds and the war ends somewhat quickly, gas prices will fall back down as fast as they rose, and then all the global economic turmoil the world’s been worrying about will be avoided.

It won’t. A lot of economic pain has already been locked in by this war. But to really understand it, it’s necessary to keep a few important economic truths at the front of our minds.

First is the fact that the entire purpose of the economy is to produce goods and services that consumers value enough to pay for. All of the production happening anywhere in the economy is geared towards that end.

That’s relatively straightforward with the production of consumer goods. A commercial brewer, for example, chooses to produce specific beers because they think consumers will value those beers enough to pay more money than the brewer spent producing them, making it a profitable production.

But it’s also true for all the production that is not directly tied to a finished consumer good—which is, in fact, most of the production happening in the economy. Businesses produce capital goods like industrial stainless-steel mixing tanks, rubber tractor tires, plastic packaging, or the ingredients of fertilizer because there’s demand for those goods from other businesses that produce later-stage goods and, ultimately, consumer goods.

So, returning to the brewing example, all the production that results in that finished bottle of beer doesn’t begin with the brewer. It requires grain that is planted, grown, harvested, and transported to the brewery. It also requires fermenters, Brite tanks, mash tuns, and canning or bottling systems—all of which need to be produced with other capital goods like stainless steel, which itself requires other capital goods like iron ore.

Every consumer good can be viewed as the end of a long chain of production stretching all the way back to the cultivation of raw materials like iron or timber, or the creation of basic components like resins or plastics. Economists call those basic capital goods at the beginning of the chain higher order goods.

And what’s important to remember about higher order goods is that, first, almost all of them are used in many different lines of production. Iron ore is not exclusively used to help eventually produce beer, it’s used to make a lot of goods that are themselves used to make a lot of other goods. It’s what’s called a non-specific factor of production. Any change in the production of iron ore has widespread consequences across the economy.

And second, production takes time. That’s true for the production of any given good, but it’s especially true if we look across that entire chain of production. The higher order goods that are currently being produced won’t help bring about finished consumer products until months or even years down the road.

All of this is important to understand and keep in mind because the war with Iran is, so far, primarily impacting the production of higher order goods. And it goes far beyond oil.

About 8 percent of the world’s aluminum travels through the Strait. And aluminum is used across many sectors, including construction, manufacturing, and technology. Nearly a third of the world’s helium supply comes from Qatar, which is an important component in semiconductor production as well as MRI systems.

Polyethylene and other kinds of plastics and resins are also greatly affected. More than 40 percent of the world’s polyethylene is exported from the Middle East. And these are used in all stages of production in all sorts of industries—packaging, auto parts, medical equipment, consumer containers, industrial components, electronics, and much, much more.

And there are other often-neglected but extremely important hydrocarbon products being held up, such as petroleum naphtha, which is critical for refining gasoline and producing solvents for cleaning agents and paints. Natural gas condensate is another liquid hydrocarbon used in refining and to dilute other denser hydrocarbons to make them easier to transport. There’s also liquified petroleum gas, or LPG, which is mostly composed of propane and butane. These components are also important for refining as well as residential cooking and heating in many parts of the world. Much of the world’s supply of all these products is produced in the Middle East and exported through the Strait of Hormuz.

Another often-neglected yet critical higher-order good is sulfur. About half the world’s seaborne sulfur trade moves through the Strait. It’s important for refining petroleum and minerals like copper, nickel, and zinc, which are widely used in everything from electronics to medicine.

But the other major use of sulfur is as an ingredient in fertilizer. The sulfur supply shock—along with adjacent shocks in the supply of ammonia and urea, other key fertilizer components primarily exported through the Strait of Hormuz—has created a time bomb in global food markets.

Which brings us to another economic concept that is extremely important to understand if we want to fully comprehend the situation we’re now in. The problem is not merely a rise in prices but, specifically, the destruction of supply. The strikes on production facilities and the severing of supply lines mean there is now not enough supply of the components I laid out above available to meet current levels of demand. And because, again, these higher order goods are demanded for the production of lower order and consumer goods, that means, eventually, fewer consumer goods. The rising prices are a symptom of the fact that there is now less stuff available for everyone who wants it than there was before.

The fertilizer shortage provides a good example. The fact that producers cannot get their hands on the supply of ingredients like sulfuric acid, ammonia, and urea they need to meet demand means they are forced to produce less fertilizer than their customers need. Which, in turn, means those customers—industrial and family farmers—have less fertilizer to use during this year’s spring planting season. Which means they produce fewer crops. This leads to less animal feed for livestock and produce overall, resulting in an unavoidable drop in the food supply.

Those of us who are fortunate enough to live in developed countries above the poverty line will primarily experience the shortage as higher food prices. But for the millions of people who are already struggling to secure the food they need, this drop in supply may force them to go without.

That is not a choice forced on all of us by some greedy companies, it is an unavoidable consequence of the economic destruction brought about by this war.

And that same basic process is at play with all the other commodities and higher order goods I mentioned, as can be seen in the dramatic price increases. Aluminum prices have already surged by 10 percent. Import prices for helium have jumped 50 percent. Polyethylene prices are up 37 percent. Polypropylene is up 38 percent. And the price of petroleum naphtha has tripled since February.

Remember, these price increases are not the whole story. They are the symptom of supply shortages that will work their way through all relevant lines of production and result in fewer consumer goods down the road—all from production disruption that will be slow to start back up again, even when the war is fully over.

That means fewer containers available for goods like nail polish and, yes, beer. It means fewer medical supplies, like IV bags, syringes, and sterile packaging, all of which rely on petrochemical plastics. Also, delays in construction projects as it becomes harder to source asphalt, plastics, and aluminum inputs. And dangerous health issues going undetected because of limited MRI machine availability, and much more.

And that’s not to mention, of course, the oil and LNG shortages that people are already sufficiently focused on. These commodities power nearly all stages of all lines of production and help produce the diesel and jet fuel used to physically move everything in the economy to where it needs to be.

Unlike gas prices, these effects will take some time to develop—especially in the US, where our supply chain is momentarily protected from the initial impacts. And they won’t be as clearly tied to the war in the minds of most people. But the costs of all this economic destruction are real, they are substantial, and they are already locked in.

Tyler Durden Thu, 04/09/2026 - 16:20
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Is The Dollar Collapsing? 8 Key Indicators You Can't Ignore

2026-04-09T06:19:29.152-07:00

Is The Dollar Collapsing? 8 Key Indicators You Can't Ignore

Authored by Nick Giambruno via InternationalMan.com,

There are eight key indicators to watch as the US government falls deeper into the self-perpetuating debt spiral.

Indicator #1: Federal Budget Deficits

The chart below shows the actual and projected federal budget deficits.

It’s important to note that these projections rest on the ridiculous assumption that there will be no wars, recessions, or other events that drive additional federal spending. That assumption is already out the window with the Iran war: the Pentagon has requested an additional $200 billion, for starters.

Even with this rosy and unrealistic forecast, the US government is projected to run a cumulative deficit of over $22 trillion over the next ten years—deficits that will have to be financed by issuing more debt, a significant share of which will likely be bought by the Federal Reserve with “money” it creates out of thin air.

Indicator #2: The Federal Debt

The federal debt has exceeded $39 trillion, representing more than 124% of GDP.

It’s important to remember that GDP is a flawed statistic. For example, it counts government spending as a positive. A more honest measure would count government spending as a big negative, as it compounds the debt spiral. In the US, government spending accounts for at least 37% of GDP.

In other words, the amount of debt relative to the productive economy is much more than the official numbers suggest.

Indicator #3: The Federal Interest Expense

Annualized interest on the federal debt exceeds $1.2 trillion and is surging higher. That means more than 23% of federal tax revenue is going just to service interest on the existing debt.

The interest cost on the federal debt is already the US government’s second-largest outlay. It’s set to exceed Social Security and become the biggest federal expenditure in a matter of months.

Indicator #4: The Federal Funds Rate and the 10-Year Treasury Yield

Whenever discussing the Fed or central banks, it’s essential to keep the basics in mind.

You have to start with the most fundamental concept: central planning doesn’t work. That’s the first principle.

Central planning of shoes doesn’t work. Central planning of wheat doesn’t work. And central planning of (fake) money doesn’t work.

Central banks in general—and the Fed in particular—are on a mission impossible. They don’t know what the interest rate should be. Nobody does. That’s something only a voluntary market of savers and borrowers, dealing in honest money, can determine.

A politburo can’t centrally plan interest rates any more than it can potatoes. They are inevitably going to fail—and cause significant damage in the process.

It’s also crucial to remember that central banks have nothing to do with the free market. They are, in fact, the antithesis of it.

In Karl Marx’s Communist Manifesto, central banking is the fifth plank.

With that important context in mind, consider the following.

In the wake of the 2008 financial crisis, the Fed brought interest rates to roughly 0% and held them there for years.

Then, in late 2015, they started a rate-hiking cycle that lasted until the repo market turmoil in late 2019.

After the outbreak of the Covid hysteria in early 2020, the Fed brought interest rates back down to around 0%.

Inflation subsequently hit 40-year highs in 2022, forcing the Fed into another rate-hiking cycle, one of the steepest in history.

In just 18 months, the Fed hiked rates from around 0% to over 5%.

The Fed has now pivoted back to monetary easing and rate cuts without having defeated inflation.

The Federal Reserve essentially controls short-term interest rates, such as the Federal Funds rate, which is the interest rate at which banks lend to each other overnight.

Long-term interest rates, like the 10-year Treasury yield, work differently. These rates are shaped by a much larger market influenced by various factors beyond the Fed’s control.

While the Fed has significant influence and can impact long-term rates by purchasing bonds like the 10-Year Treasury, other market dynamics also play a role. In short, the Fed can exert some influence over long-term rates but does not fully control them.

The 10-year Treasury yield reflects the annual return an investor can expect if they purchase a 10-year US Treasury bond today and hold it until maturity.

The 10-year Treasury yield is perhaps the most important financial benchmark in the global fiat system, as it drives valuations and market trends worldwide. It is widely (and erroneously) thought of as the risk-free rate of return.

The 10-year Treasury yield can be thought of as a key barometer of the US dollar-based fiat system—a critical measure akin to its “beating heart.”

Bond yields move inversely to bond prices. When bond prices fall, bond yields rise.

A rising 10-year Treasury yield signals trouble for the US dollar because it indicates that investors are selling off bonds, which increases the US government’s borrowing costs.

Indicator #5: The Fed’s Balance Sheet

The Fed recently announced that it has ended the shrinking of its balance sheet and will now begin expanding it again.

The Fed insists this isn’t quantitative easing, calling it “reserve management” and pointing out that it isn’t explicitly targeting long-term Treasuries. That’s just wordplay. Buying Treasuries with newly created money is money printing, regardless of what label they attach to it. The Fed’s balance sheet is expanding again. A new printing cycle has begun.

We’ve seen this pattern repeatedly. The Fed expands its balance sheet, then tries to shrink it. Something eventually breaks in the financial system, and the Fed pivots right back to easing and money creation. Each time this happens, the balance sheet never returns to its prior level. It ratchets permanently higher with every cycle of debasement.

What makes the current situation especially telling is that the Fed is entering another balance-sheet expansion phase even though the balance sheet is still more than 50% larger than it was before the Covid mass psychosis.

Before 2020, the Fed’s balance sheet was roughly $4 trillion. It exploded to nearly $9 trillion during the Covid response. Even after so-called “quantitative tightening,” it remains nowhere near its pre-Covid level.

This completely contradicts the Fed’s long-standing claim that programs like QE are temporary.

Remember when former Fed Chair Ben Bernanke promised the balance sheet would eventually normalize after the 2008 financial crisis? That promise was made nearly 15 years ago, when the Fed’s balance sheet was around $2.5 trillion and was supposed to shrink back toward pre-crisis levels below $1 trillion. Instead, today the balance sheet is more than double what it was when Bernanke made that pledge — and now the Fed is entering yet another expansion cycle that threatens to push it even higher.

The long-term trend is obvious. The balance sheet only goes one direction: up. And the implication is unavoidable. Every time the Fed expands its balance sheet, it debases the currency. This isn’t an accident or a temporary policy error — it’s the core feature of the system.

If you’re wondering what comes next, look at the chart below—and note what followed the last time the Fed shifted from shrinking its balance sheet to expanding it.

We are now in the top of the first inning of what may become the most aggressive balance sheet expansion cycle in the Fed’s history.

Indicator #6: Money Supply

Imagine working 9 to 5 for 50 years, only for the Federal Reserve to print 40% of the money supply and inflate away 20 years of your hard work.

You don’t have to imagine—it actually happened during the COVID mass psychosis, as governments worldwide indulged in a frenzy of currency debasement.

I have no doubt that something like this or much worse will happen again soon.

Remember, the Fed has only two tools in its toolbox: currency debasement and gaslighting.

The skyrocketing interest expense forces the Fed to implement interest cost control policies, which inflate the money supply. These include buying Treasuries with money the Fed creates out of thin air and similar measures.

No matter what the Fed calls it, the only way they can try to control interest costs is to inflate the money supply.

However, that is ultimately self-defeating because it creates inflation, which causes bond investors to demand high interest rates to compensate for.

Regardless, the Fed inflates the money supply anyway in a misguided attempt to control interest costs because that is the only thing it can do.

The long-term average YoY change in the money supply is 6.8% per year.

Indicator #7: Consumer Price Index

The Consumer Price Index (CPI) is the most politically manipulated statistic in all of government. That is saying something because many government statistics are completely manipulated, but inflation, as measured by the CPI, is probably the most manipulated.

The CPI is a basket of prices trying to measure the average price changes for 340 million Americans.

It’s an impossible task because every individual has a different price basket. Consider someone who lives in New York City compared to someone who lives in rural Montana. They have totally different price baskets.

Using the CPI as a measure of price increases for 340 million people is even more preposterous than taking the average temperature across 50 states in the US as a meaningful statistic to determine what clothes you should wear today.

Further, the government gets to cherry-pick what items go in the CPI basket and their weightings. It’s like letting a student grade his own paper.

In short, the CPI is misleading government propaganda intended to conceal the government’s atrocious currency debasement.

All that being said, it is useful to monitor the CPI, not as a meaningful metric to gauge inflation, but as a metric to analyze the Fed’s actions and gaslighting.

Indicator #8: The Gold Price

Gold is mankind’s most enduring form of money—for over 5,000 years—because of its unique characteristics that made it best suited to store and exchange value.

Gold is durable, divisible, consistent, convenient, scarce, and most importantly, the “hardest” of all physical commodities.

In other words, gold is the one physical commodity that is the “hardest to produce” (relative to existing stockpiles) and, therefore, the most resistant to debasement.

Gold is indestructible, and its stockpiles have built up over thousands of years. That’s a big reason why the growth of new gold supply—typically 1-2% per year—is insignificant.

In other words, nobody can arbitrarily inflate the supply.

That makes gold an excellent store of value and gives the yellow metal its superior monetary properties.

People in every country of the world value gold. Its worth doesn’t depend on any government or any counterparty at all. Gold has always been an inherently international and politically neutral asset. This is why different civilizations around the world have used gold as money for millennia.

From a historical point of view, using fiat currency as money is a relatively new concept. As it fades, I expect people will rediscover the world’s premier money: gold.

This trend is already well underway.

I expect the price of gold, which is already hitting record highs, to soar as this all plays out.

These eight indicators all point in the same direction: more debt, more money printing, and more damage to the dollar’s purchasing power.

To see what this could mean for your financial future—and the three practical moves you can make now—I recommend reading a free special report I just published before the next stage of the crisis unfolds. Click here to get the free report now.

Tyler Durden Thu, 04/09/2026 - 06:30
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Kevin Plank's Unsellable Thoroughbred Race Farm Sees Another Deep Price Cut

2026-04-08T14:19:15.691-07:00

Kevin Plank's Unsellable Thoroughbred Race Farm Sees Another Deep Price Cut

Under Armour CEO Kevin Plank has once again cut the asking price on his massive thoroughbred racing farm in northern Baltimore County, Maryland, as the historic farm - once owned by the Vanderbilt family - continues to sit on the market amid a series of deep price cuts.

Plank has been winding down his sprawling real estate portfolio, offloading everything from multiple residential properties to a luxury hotel in Baltimore City in recent years. Among his crown jewels - alongside the Baltimore Peninsula - is Sagamore Farm, a 404-acre thoroughbred racing operation he has been trying to sell for years.

The latest data from multiple listing service provider MLS Bright shows that Plank likely instructed his listing agent, Christina Giffin of Monument Sotheby's International Realty, to pursue another price cut.

MLS Bright data shows Sagamore's current listing price is around $16.5 million. This represents a 15% cut from the late-2025 listing of $18.5 million and an overall decline of about 25% from the original $22 million listing in March 2025. The farm appears to have been on and off the market.

We've outlined the mounting challenges for Plank as UA's brand momentum trended downward for years, but only in recent quarters have we begun focusing on UBS analyst Jay Sole, who is attempting to call a bottom in the stock. Also, the "Warren Buffett of Canada" piled into the stock earlier this year as management raised its outlook.

Plank is still dealing with the "ghost town" of Baltimore Peninsula amid the city's declining population, which has fallen to a 100-year low under the far-left leadership of Mayor Brandon Scott. Statewide, Maryland's financial profile is deteriorating under left-wing Governor Wes Moore, with high taxes, crime, a growing fiscal deficit, rising power bills, prioritizing all things woke, significant outbound migration, and other mounting challenges. This is what you get under one-party Democratic rule of kings and queens that have ignited a fire in the state and city under backfiring DEI policies.

Plank should focus on advocating for political change in Baltimore City. At least one other billionaire is already involved in such efforts. If Plank wants his "city within a city" to thrive, negative net migration trends must reverse, and both the city and the state will need to improve their overall financial profiles. Certaintly Democrats show zero interest in fostering a thriving state.

* * *

Tyler Durden Wed, 04/08/2026 - 14:45
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Tehran-Aligned Militia In Iraq Frees American Journalist In Prisoner Swap

2026-04-07T15:19:13.653-07:00

Tehran-Aligned Militia In Iraq Frees American Journalist In Prisoner Swap

An Iran-backed militia in Iraq has announced it will release an American freelance journalist kidnapped in Baghdad a week ago. Shelly Kittleson was abducted on March 31, and her captors in Kataib Hezbollah announced Tuesday that she can go free as long as she exits Iraq immediately.

Abu Mujahid al-Assaf, a security official in the group, has been cited in international reports as saying, "In recognition of the national stances of the outgoing prime minister, we have decided to release the American defendant Shelly Kittleson."

Image source: Wausau Pilot & Review

This constitutes direct confirmation that the group is indeed responsible for her kidnapping, which happened after weeks of the US-Israeli attacks in Iran.

At the time of the 49-year-old’' abduction, Iraqi authorities said security forces pursued the suspects, resulting in one of the kidnappers’ vehicles overturning and one arrest.

Iraqi Prime Minister Mohammed Shiaa al-Sudani days ago intensified the search, ordering security forces to track down those responsible for abducting foreigners.

Kataib Hezbollah has claimed that it has a recording it is ready to release, supposedly showing Kittleson’s "role and activities in Iraq" - and at least one such video while in captivity has appeared.

In the past when Westerners or Israelis have been abducted in Iraq, they are typically accused of spying on behalf of foreign governments.

The NY Times says she has gone free, after an exchange:

Ms. Kittleson, who has reported on the Middle East for more than a decade for various outlets, was set free in exchange for the release of several imprisoned Kataib Hezbollah members, according to the two Iraqi security officials. They asked not to be identified in order to discuss sensitive negotiations.

AMERICAN JOURNALIST KIDNAPPED IN BAGHDAD

Rapid Report footage/Iraq Interior Ministry confirms Shelly Kittleson abducted pic.twitter.com/XzdPkEHT0s
— SilencedSirs◼️ (@SilentlySirs) March 31, 2026

Starting in March the State Department urged all Americans to leave the country immediately, after which the US Embassy in Baghdad came under repeat drone fire. Other US sites, as well as oil facilities, have come under fire either from Iran or its allied groups in Iraq.

Tyler Durden Tue, 04/07/2026 - 15:40
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Wyoming's Helium Empire Ascends As Qatar Gas Goes Flat

2026-04-06T15:19:21.646-07:00

Wyoming's Helium Empire Ascends As Qatar Gas Goes Flat

Readers have already been well briefed, see here and here, that roughly one-third of global helium supply has been disrupted, setting the perfect storm of chaos to spread across high-tech industries, particularly semiconductors. The shock is being driven by shipping restrictions through the Gulf and the shutdown of output from top producer Qatar, where damage to the Ras Laffan complex could keep supplies constrained for years.

As the U.S.-Iran conflict enters its second month, one of the clearest second-order effects of the widening Gulf energy shock is the rewiring of global energy flows.

Buyers are already being forced to reassess the risks of concentrated energy exposure to the Gulf region, whether in crude and refined products or in LNG and helium, as war damage to major LNG export facilities in Qatar and Hormuz-related shipping constraints suggest energy flows could remain impaired for a prolonged period. Some of the countries most exposed to Gulf disruptions are in Asia, Africa, and Europe, as well as California in the U.S.

The good news for global buyers seeking more reliable alternatives to Gulf energy products is a theme we pointed out last month: American LNG exporters in the Gulf of America stand to be major beneficiaries of the disruption.

Adding to that theme, UBS analysts led by Manav Gupta said ExxonMobil stands out as a major beneficiary of the helium shock.

"Qatar was expected to increase its share of global capacity to 34% over the next five years; however, damage to the Ras Laffan facility could delay this expansion," Gupta noted. But as it has turned out, the head-to-head race with the U.S. in LNG export capacity has paused for now, as the U.S. pulls ahead.

2025 Helium production by country

Gupta continued, noting that XOM is set to dominate the global helium market through its facilities in Wyoming:

XOM's LaBarge facility in Wyoming, provides 20% of the world's supply, which has not been impacted by recent events in the Middle East. With an estimated eight decades worth of helium left to produce there, LaBarge is poised to play a significant role through the end of this century.

This facility, is capable of producing ~1.4 billion cubic feet per year of Grade A helium. With over 30% of global capacity disrupted, this location will play a key role in meeting global needs for Helium which is a critical element for many advanced technologies, like MRIs for healthcare, rockets for space exploration, and microchips for advanced computing.

Extracting helium was not part of LaBarge's original design when the facility began producing natural gas in the mid-1980s. After large quantities of helium were discovered underground, it soon became central to the facility's operation.

The two wars now stretching across Eurasia - the Russia-Ukraine conflict and, now, the U.S.-Iran conflict - are accelerating a rewiring of global energy flows toward suppliers seen as more stable and secure, above all the U.S.

Professional subscribers can read the full note on why UBS says XOM is a "net beneficiary of the current helium market tightness" at our new Marketdesk.ai portal.

Tyler Durden Mon, 04/06/2026 - 16:40
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UBS: Trump's Historic Military Budget Request Could Boost Beaten-Down Defense Stocks

2026-04-06T14:19:26.184-07:00

UBS: Trump's Historic Military Budget Request Could Boost Beaten-Down Defense Stocks

U.S. defense stocks showed signs of stabilizing in April after tumbling since Operation Epic Fury began in late February and sustaining a Mach bloodbath. The improvement followed Friday's White House proposal to lift military spending sharply, to roughly $1.5 trillion in 2027.

UBS analyst Allyson Gordon said Monday morning that the White House budget request "should help sentiment," which has deteriorated since the U.S.-Iran conflict began. Last week, Gordon asked, "Why is U.S. defense performance lackluster?"

Earlier, the analyst said:

Defense stocks are in focus after Trump requested a $1.5 trn FY2027 defense budget on Friday. The headline is positive for the group, though market reaction remains to be determined.

On the supportive side, defense stocks have underperformed expectations since the Iran conflict began for several reasons, and the size of the budget request should help sentiment. However, investors remain skeptical that Congress will ultimately pass a $1.5 trn budget, raising the question of whether this is "as good as it gets."

Analyst Gavin Parsons outlined the key elements of the proposal and the relative winners and losers. Missiles appear to be a major beneficiary, reinforcing the bullish narrative for RTX. Shipbuilding also stands out as a positive (GD, HII), while the proposed B‑21 reduction was a surprise negative for NOC. That said, investor positioning is likely to reflect continued uncertainty around what ultimately makes it through Congress.

From here, the proposal moves to Congress, which must pass a budget by September 30 to avoid a shutdown or continuing resolution at the start of FY2027 (October 1).

The iShares U.S. Aerospace & Defense ETF, or ITA, a basket of major U.S. defense firms, initially ramped in the early days of the U.S.-Iran conflict but then dumped into a deep 16% correction from the early March high. By the end of the month, and into late last week, ITA began to stabilize, up 6.5% from the low.

Last week, in a separate note, Melius analyst Scott Mikus upgraded RTX to a "Buy" from "Hold," citing "Epic Fury tailwinds."

Mikus said, "Given the need to replace missiles, missile interceptors, damaged radars, aircraft, and other equipment used in Operation Epic Fury, we are raising our estimates and price targets for the large defense primes."

"We see margin tailwinds for defense contractors as they move past stale-priced contracts and receive awards for mature production programs that are margin accretive," added Mikus.

Now the question is: How will defense stocks respond to President Trump's Tuesday evening deadline for Iran to reopen the Hormuz chokepoint?

*IRAN REJECTS A CEAESFIRE IN REPLY TO US VIA PAKISTAN: IRNA https://t.co/yrWftZNKvI
— zerohedge (@zerohedge) April 6, 2026

IRNA's foreign policy correspondent says that its response, which consists of ten paragraphs, Iran has emphasized the need for a permanent end to the war, taking into account Iran's considerations, while rejecting a ceasefire.

This answer includes a set of demands from Iran,… https://t.co/anVYR1uZVm
— zerohedge (@zerohedge) April 6, 2026

Any rejection of a ceasefire could result in the next phase of the conflict, one in which the U.S. begins targeting critical infrastructure nodes and continues to drain key stockpiles of missiles and bombs that will clearly need to be replaced at some point, hence Mikus's note on "Epic Fury tailwinds."

Professional subscribers can read the latest defense stocks notes at our new Marketdesk.ai portal

Tyler Durden Mon, 04/06/2026 - 15:40
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Iran Threatens "Complete And Utter Annihilation" Of OpenAI's $30BN Stargate Data Center In Abu Dhabi

2026-04-05T16:19:43.525-07:00

Iran Threatens "Complete And Utter Annihilation" Of OpenAI's $30BN Stargate Data Center In Abu Dhabi

In a move that may well have been sponsored by Dario Amodei or Elon Musk, Iran's Islamic Revolutionary Guard Corps (IRGC) issued a clear public warning to the US that any damage inflicted on Iran’s power infrastructure will be met with decisive retaliation. Specifically, IRGC spokesperson Brigadier General Ebrahim Zolfaghari threatened the “complete and utter annihilation” of U.S. and Israeli facilities, with Stargate's $30 billion "hidden" AI datacenter in Abu Dhabi singled out as a juicy target for Iranian destruction later in the video.

The threats come on the heels of Iran reportedly delivering enough damage via rocket strikes to some Amazon AWS data centers that they have shut down.

Iran leveling up
They released a video of threatening to strike 1GW Stargate AI datacenter in the UAE.

The data center is hidden on Google maps they even shown that pic.twitter.com/LuOGIp3BVj
— Furkan Gözükara (@FurkanGozukara) April 3, 2026

In the video, Zolfaghari warned that “should the USA proceed with its threats concerning Iran’s power plant facilities the following retaliatory measures shall be promptly enacted: All power plants, energy infrastructure, and information and communications technology of the Zionist regime, and all similar companies within the region that have American shareholders shall face complete and utter annihilation.”

As Tom's Hardware notes, after Zolfaghari's remarks end, the video switches to a shot of the Earth from space, which zooms into Abu Dhabi on Google Maps. A zone not far from the coast is then centered on, showing an apparently ‘empty’ area of desert. However, a message is overlaid on this bleak view, stating “Nothing stays hidden to our sight, though hidden by Google.” The video then switches to a ‘night vision’ view of the same area of the map with the full extent of the Stargate AI datacenter in Abu Dhabi clear to see.

The threat comes after the IRGC claimed they targeted Oracle's data centers in Dubai.

IRAN'S REVOLUTIONARY GUARDS SAY THEY HAVE TARGETED ORACLE'S DATA CENTER IN DUBAI - STATE MEDIA
— Phil Stewart (@phildstewart) April 2, 2026

There has been no confirmation whether the facility was hit or what damage it may have sustained.

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What Season Is It?

2026-04-05T15:19:43.313-07:00

What Season Is It?

March temperatures across the Mid-Atlantic region were all over the place, swinging from the low 70s to cold and snowy the next day; the same pattern appears to be carrying into early April.

Temperatures across the Washington, DC-Baltimore metro area were in the low 80s on Saturday, while New York City was in the high 60s.

More of March's schizophrenic weather looks set to return Monday night into Tuesday, with meteorologist Ben Noll forecasting a late-season round of snow showers across parts of the Mid-Atlantic and Northeast early next week. Any meaningful accumulation is most likely at higher elevations and in the interior Northeast, while lower elevations should see lighter winter precipitation.

"Fear not, as it should mark the last snow chance of the season, and much warmer temperatures are within reach," Knoll wrote in his note.

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Less Than Half Of Health Care Workers Received An Updated COVID-19 Vaccine: CDC

2026-04-04T17:19:13.951-07:00

Less Than Half Of Health Care Workers Received An Updated COVID-19 Vaccine: CDC

Authored by Zachary Stieber via The Epoch Times,

A minority of health care workers received an updated COVID-19 vaccine, according to a newly reported survey from the Centers for Disease Control and Prevention.

Just 40.2 percent of health care personnel who responded to the survey said they received a COVID-19 shot between the fall of 2024 and early 2025, CDC researchers said on April 2.

The rate of vaccination was higher, 76.3 percent, for influenza.

The survey was conducted online from March 26 to April 17 in 2025, following the 2024–2025 respiratory virus season. The season begins in the fall of each year and runs into the next year.

Some 2,650 health care workers responded to the survey.

At the time, the CDC recommended influenza and COVID-19 vaccination for virtually all Americans aged 6 months and older, regardless of the number of prior doses. The CDC more recently narrowed its recommendations for those shots, citing factors such as uncertain risk-benefit profiles.

A federal judge blocked the updates in March.

The percentage of workers who took a COVID-19 vaccine increased from the prior season, when the rate was 31.3 percent, according to the newly released survey. The percentage of workers who received a flu shot remained about the same, though it is down from years prior to the COVID-19 pandemic.

CDC researchers said the increase in COVID-19 vaccination coverage may be from the vaccine for the 2024–2025 season becoming available one month earlier than the preceding year.

Workers aged 18 to 29 were most likely to receive a COVID-19 vaccine. Personnel aged 60 and up were more likely to receive an influenza immunization.

According to survey data, nearly four in 10 employers required influenza vaccination, and about 14 in 100 mandated COVID-19 vaccination. People who worked for employers who required vaccination were far more likely to have received the vaccines. Some 83 percent of workers required to receive a COVID-19 vaccine had received one, compared to 46 percent whose employer recommended COVID-19 vaccination and just 19 percent whose employer did not require or recommend vaccination.

CDC researchers said that the data could “help guide the development and implementation of evidence-based strategies to encourage vaccination, increase coverage, reduce influenza incidence among [health care personnel] and their patients, and limit strain on the health care system.”

The researchers said the findings supported actively promoting vaccination in places of business to increase influenza vaccination coverage among health care workers.

Health care workers who decline vaccination have said in previous surveys that they were worried about vaccine side effects and expressed distrust in health authorities.

The CDC published the study in its quasi-journal, Morbidity and Mortality Weekly Report. The publication ensures reports align with CDC messaging and typically does not peer-review papers.

“Although most articles that appear in MMWR are not ‘peer-reviewed’ in the way that submissions to medical journals are, to ensure that the content of MMWR comports with CDC policy, every submission to MMWR undergoes a rigorous multilevel clearance process before publication,” the CDC said in a 2011 report. “By the time a report appears in MMWR, it reflects, or is consistent with, CDC policy.”

Limitations of the paper included the vaccination status being self-reported and unverified. Authors disclosed no potential conflicts of interest.

Tyler Durden Sat, 04/04/2026 - 18:05
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US Arrests & Boots Soleimani's Fashion Designer Niece From The Country

2026-04-04T14:19:41.757-07:00

US Arrests & Boots Soleimani's Fashion Designer Niece From The Country

The Trump administration is rounding up family members of notable Iranian government figures, accusing them of spreading 'pro-Tehran propaganda'. And apparently this is even if the Iranian officials in question are deceased.

The State Department confirmed an unexpected development on Saturday, announcing that the niece of the late Iranian Maj. Gen. Qassem Soleimani is being booted from the country.

Hamideh Soleimani Afshar and her daughter were arrested Friday night, and their permanent residence status has been revoked - now in the custody of US Immigration and Customs Enforcement.

Maj. Gen. Soleimani was the former leader of the elite Quds force wing of the Islamic Revolutionary Guard Corps (IRGC) who was assassinated via drone strike as his convoy drove outside of Baghdad International Airport in 2020.

This was during the first Trump administration, and in many ways this brazen killing of someone many countries viewed as essentially a 'diplomat' (certainly Iraq and Russia did) set Tehran and Washington on a collision course. Washington long considered him a terrorist. His popularity inside Iran was immense.

According to more details of the arrest of Soleiman's niece and her daughter:

The State Department did not say where they were arrested. Secretary of State Marco Rubio said in a post on X that Soleimani Afshar and her daughter lived "lavishly" in the U.S. and are now in ICE custody “pending removal” from the U.S.

The State Department described Soleimani Afshar as “an outspoken supporter of the totalitarian, terrorist regime in Iran.” Her husband is also now not permitted to enter the U.S., the State Department said. Her uncle Maj. Gen. Soleimani, the former leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps, was killed in a U.S. airstrike in 2020.

Apparently her social media accounts have already been scrubbed and/or deleted, and there are reports saying that she did modeling and/or fashion design in the United States.

Niece of Qasem Soleimani, former commander of the IRGC Quds Force who has now been arrested in the United States is identified as Hamideh Soleimani Afshar. Her daughter has also been arrested by the FBI. Hamideh Soleimani Afshar was a Model in the United States. https://t.co/uiwTiiWTwX pic.twitter.com/5jrfrKn3Qa
— Niloofar Mansoori نیلوفر منصوری (@NiloofarMM) April 4, 2026

It's not entirely clear what exactly she posted that caught the attention of US authorities. She may have merely critiqued the US-Israeli bombing of her homeland - but some X accounts have accused her of positively praising Iranian leadership while opposing the anti-government and economic protests from last January. Laura Loomer is claiming credit for alerting the Trump administration, or playing some kind of role in Hamidea's apprehension and pending expulsion.

According to more from the WSJ, "Rubio also ended legal status protections for Fatemeh Ardeshir-Larijani, the daughter of the late Ali Larijani, Iran’s former top national-security official, and her husband, the State Department said. The department said they are no longer in the U.S. and not permitted to enter in the future."

This means that likely other permanent residence holders who have family ties to the Islamic Republic leadership are being scrutinized by US federal authorities.

There could be a lot of Instagram, X, and Facebook scrubbing happening among the Iranian diaspora at this point.

Tyler Durden Sat, 04/04/2026 - 16:20
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It's Past Time To Privatize The Post Office

2026-04-03T16:19:19.066-07:00

It's Past Time To Privatize The Post Office

Submitted by QTR's Fringe Finance

A new piece from the Cato Institute lays out how bad things have gotten at the post office, arguing that the United States Postal Service is facing a severe and worsening financial crisis. According to the article, USPS has been losing billions of dollars annually for well over a decade and is now at a point where it cannot realistically fix its problems without major structural changes. I could have told you this after the horror show I lived through at the post office back in September of 2025.

The USPS now is the predictable outcome of trying to run a massive logistics operation through a government bureaucracy that moves slowly, resists change, and answers more to politics than to performance. The piece makes clear that USPS was built for a world that no longer exists, yet it continues operating as if nothing has changed because, as usual, government institutions are the last to notice reality.

The problems outlined are extensive and, frankly, not surprising. Mail volumes have collapsed as Americans switched to faster, cheaper digital alternatives, yet USPS continues to behave like it’s still 1995. What mail remains is increasingly dominated by low-value marketing material, while the agency struggles to compete in package delivery against companies that actually specialize in logistics.

Even Amazon, a company that started as an online bookstore (what could be less efficient to ship than godd*mn books — bricks?), has figured out how to build a better delivery network.

Meanwhile, visits to post offices have fallen off a cliff, but the system has barely shrunk its footprint. Labor costs remain enormous, productivity lags, and the workforce is structured in ways that prioritize stability over efficiency.

The result is exactly what you would expect when there is no real pressure to perform: bitchy apathetic staff, declining output, rising inefficiency, and billions in annual losses that just keep piling up. In the private sector, that kind of performance would trigger a full-scale overhaul or bankruptcy.

In government, it triggers a Congressional hearing and maybe a strongly worded memo, in addition to switching the Postmaster General and paying the new guy even more than the last guy got paid.

This is why privatization is not some radical idea but a logical response to a system that clearly is not working. A privatized USPS would finally be allowed to operate like a business instead of a political artifact. It could close unprofitable locations without needing a congressional debate, adjust delivery schedules based on actual demand, and invest in technology that improves service instead of maintaining outdated systems because “that’s how it’s always been done.”

Most importantly, it would have to make money (or at least stop losing it) which is a constraint that tends to focus the mind in ways government management never quite experiences. When survival depends on efficiency, organizations tend to discover it very quickly.

The contrast with private carriers like FedEx and UPS could not be clearer. These companies operate in a world where excuses don’t pay the bills. They optimize routes, invest in automation, analyze data, and constantly refine their operations because if they don’t, their competitors will. They have built systems that deliver packages faster, track them more precisely, and adapt to changing demand almost in real time. None of this happened because a committee approved it after years of debate. It happened because the profit motive demands results.

Meanwhile, USPS is stuck navigating layers of regulation and political oversight, where even obvious changes can take years to implement, if they happen at all.

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

There is also the small matter of accountability. Private companies cannot run losses indefinitely and expect someone else to quietly cover the gap. They either fix the problem or they go under. USPS, on the other hand, operates with the understanding that there will always be some form of backstop, explicit or not. That safety net removes urgency and allows inefficiencies to persist far longer than they would anywhere else. It is the classic government model: spend more, deliver less, and call it a “challenge” instead of a failure. Privatization would replace that dynamic with one where performance actually matters, where bad decisions have consequences, and where efficiency is not optional.

Of course, defenders of the status quo often argue that privatization would undermine public service, but that assumes the current system is delivering high-quality service to begin with. Other countries have already shown that it is possible to maintain universal delivery while still operating under private or semi-private models. Targeted subsidies can ensure rural access without requiring the entire system to function inefficiently. The difference is that those systems are designed around outcomes, not inertia.

At some point, it becomes difficult to ignore the obvious. Government agencies are notoriously bad at adapting, innovating, or even cutting costs, because they are not structured to do any of those things well. The USPS is not an exception; it is a textbook example. Continuing down the current path means more losses, more inefficiency, and more attempts to patch over structural problems with temporary fixes. Privatization, by contrast, offers a way to align incentives with reality, bringing the postal system into the same competitive, performance-driven environment that has already transformed the rest of the logistics industry. And if that means admitting that the government is not particularly good at running a nationwide delivery business, that is less a controversial statement than an overdue acknowledgment of what the evidence has been showing for years.

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

This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions. All positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier.

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

Tyler Durden Fri, 04/03/2026 - 17:20
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Tiger Woods Flexes Call With Trump Before DUI Arrest; Pardon Odds Remain Low

2026-04-03T14:19:25.743-07:00

Tiger Woods Flexes Call With Trump Before DUI Arrest; Pardon Odds Remain Low

Bodycam footage shows Tiger Woods telling local authorities on Jupiter Island that he spoke with President Trump shortly after he flipped his Land Rover SUV and was arrested for DUI.

"You got it. Thank you, bye... I was just talking to the President," Woods told a local police officer seen in the bodycam footage. The officer was asking Woods to remain on the scene. Bodycam video was obtained by the New York Post.

Tiger Woods flexes his call with Trump to law enforcement after DUI:

"You got it. Thank you, bye... I was just talking to the President." pic.twitter.com/El9GDw6SWJ
— Headquarters (@HQNewsNow) April 3, 2026

Last Friday, Woods crashed his Land Rover into another vehicle, resulting in his $100,000-plus SUV turning onto its driver's side.

Unfortunately for Woods, he failed a on-scene sobriety test administered by police after what they say he showed "signs of impairment" and appeared "lethargic." Woods blew "triple-zeroes" on a breathalyzer but failed to submit a urine test.

Woods told officers he was "hoping to" play in the upcoming Masters Tournament, but in a statement posted on X on Tuesday, he told the golfing world that he would pause tournament play for the foreseeable future and "seek treatment."

"I know and understand the seriousness of the situation I find myself in today. I am stepping away for a period of time to seek treatment and focus on my health. This is necessary in order for me to prioritize my well-being and work toward lasting recovery," Woods stated (or perhaps his layer stated).

A new Polymarket bet, "Will Trump pardon Tiger Woods by June 30?" showed about a 6% chance as of Friday around lunchtime that the pro golfer would be pardoned by Trump.

Woods admitted he took "a few pills" before the crash. Officers also found hydrocodone pills at the crash scene.

This incident marks the second DUI in the Jupiter Island area over the last decade.

Will Trump pardon Tiger Woods? Polymarket is already taking bets...

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Three LNG Tankers Are First To Cross Strait Of Hormuz Since War Started

2026-04-02T14:19:19.276-07:00

Three LNG Tankers Are First To Cross Strait Of Hormuz Since War Started

While a growing number of ships have been traversing the Strait of Hormuz, with Lloyd's List reporting a total of 142 vessels have transited since the start of March, but 67% of that traffic has a direct affiliation with Iran... and the figure rises to 90% when looking at traffic in recent days, as some ships have had to pay fees in yuan or cryptocurrencies before being escorted through the strait...

IRAN’S TOLL SYSTEM IS NOW LIVE IN THE STRAIT OF HORMUZ

In the last 24 hours, around 10 ships have made it through.

Here’s how the system works:

The IRGC is running an informal checkpoint inside the Strait.

1. Ships submit cargo and vessel details through intermediaries

2.… https://t.co/Q21S0gN0Zm pic.twitter.com/PrSDQpKo3R
— Milk Road Macro (@MilkRoadMacro) April 2, 2026

... one vessel class that has so far failed to make the key crossing are LNG-carrying VLCCs, which are critical to ease the Asian nat gas supply crunch because, unlike oil, there are no Hormuz alternatives or bypass pipelines to bring LNG/nat gas to gas-starved Asian customers where demand destruction is now rampant.

But that is about to change: according to Bloomberg, a liquefied natural gas tanker has entered the Strait of Hormuz, and if it successfully navigates the waterway would become the first such vessel to pass through the strait since the start of the war.

The Sohar LNG tanker, which appears not to be loaded with cargo, is moving eastward after changing its destination to the Qalhat LNG export terminal in Oman, according to ship-tracking data. The vessel, which is signaling that it’s an Omani ship, had been circling around the Persian Gulf over the past month, the data show.

LNG ships have avoided the strait since the conflict broke out on Feb. 28, disrupting about a fifth of the world’s supply of the fuel.

According to Bloomberg, which first reported about the crossing, the ship’s manager, recorded as Oman Ship Management on the Equasis database, didn’t immediately respond to calls or an email seeking comment. Its owner, Energy Spring LNG Carrier SA, shares the same contact details as its manager.

More importantly, the Sohar appears to be traversing the southern side of the strait which is unusual because ships have typically taken a northerly route at Tehran’s behest. In other words, it appears that the Omanese ship is making a run for it.

While the Sohar vessel appears to be empty, the market is closely watching for LNG flows to resume and ease pressure on global prices, as the collapse in supply from the Persian Gulf - with Qatar's huge Ras Laffan LNG facility damaged and shut-in indefinitely - compounded by outages at Australian facilities due to a cyclone last month, has sent consumers worldwide seeking alternative sources of energy.

More importantly, the empty LNG tanker is not alone. According to data from Lloyd's List and Hormuz Letter, two other VLCCs, and these are laden with some 4 million barrels of Saudi and Emirati cargo unlike the empty Sohar, are sailing through the Strait of Hormuz, tracking close to the Omani coastline.

All three vessels are indicating they are heading to ports in Oman.

Why does this matter? Well, earlier today, Iran announced the "Oman protocol" which also includes tolls. And now ships are moving, although it wasn't clear if the ships had paid the toll demanded by Iran.

As The Hormuz Letter notes, "The blockade isn't ending, but is being restructured. Iran is deciding who passes, under what terms, and at what price. This is what controlled access looks like."

Earlier today, Kazem Gharibabadi, Iran’s deputy foreign minister of legal and international affairs, said the tanker traffic through the key oil-shipping route must be supervised and coordinated: “Of course, these requirements will not mean restrictions, but rather to facilitate and ensure safe passage and provide better services to ships that pass through this route.”

What he really meant is that going forward - all else equal - every ship will have to pay a toll in the millions, either in yuan or crypto.

Tyler Durden Thu, 04/02/2026 - 14:00
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Tankers Seized By US Carried 20 Million Barrels Of Iranian Crude To China

2026-04-01T15:19:35.392-07:00

Tankers Seized By US Carried 20 Million Barrels Of Iranian Crude To China

Nine tankers seized by the US since it began taking direct action against the so-called shadow fleet that transport illicit oil around the world have delivered more than 20 million barrels of Iranian crude to China since 2013, according to the WSJ. The figures form part of a new report that provides an insight into the level of support China has given Iran by buying its sanctioned oil.

Between 2013 and 2025, these nine vessels delivered 20.3 million barrels of Iranian crude to Chinese ports, the report said, citing data from Kpler. The vessels also carried 37.9 million barrels of Venezuelan crude and 11.1 million barrels of Russian crude to Chinese ports.

U.S. forces taking control of an oil tanker in the Indian Ocean

Altogether, that crude is worth at least $4 billion, according to the report, which is set to be released soon by Republicans on the House Select Committee on China, and seen by The Wall Street Journal.

To be sure, the amount from the seized vessels represents just a small fraction of the oil China has imported from Iran, a process which has accelerated since the Iran was started, lifting Iran's output to the highest in years.

Still, it underscores how China has been a major user of the shadow fleet, bankrolling Iran, as well as Venezuela and Russia. In 2025, China received a third of the crude oil carried by shadow and sanctioned tankers and 10% of heavy refined products such as fuel oil and crude residuals, the report said, citing Kpler data.

Shadow fleet vessels carrying sanctioned cargo have also used China’s BeiDou satellite navigation in an effort to operate outside Western oversight, the report said. BeiDou is Beijing’s answer to the U.S. Global Positioning System, or GPS, and offers positioning, navigation and timing data globally. China’s Foreign Ministry didn’t respond to a request for comment.

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US Firm Takes Control Of One Of The "World's Largest" Cobalt Producers

2026-04-01T14:19:45.110-07:00

US Firm Takes Control Of One Of The "World's Largest" Cobalt Producers

An American company has secured control of one of the largest cobalt producers outside Chinese ownership, delivering a strategic boost to U.S. efforts to compete with Beijing over critical minerals, according to the Wall Street Journal.

The buyer, Virtus Minerals, completed its acquisition of Congo-based Chemaf for $30 million, along with a pledge to invest roughly $720 million. The deal caps a years-long push, spanning both the Biden and Trump administrations, to ensure U.S. access to cobalt resources in the Democratic Republic of Congo.

Chemaf’s mines can supply about 5% of global cobalt output—a key material used in fighter jets, smartphones, and electric vehicle batteries. Virtus says future production will be directed toward American and allied buyers.

Despite its value, Chemaf proved difficult to sell. U.S. companies were wary of its heavy debt—around $1 billion—along with reputational concerns and the challenges of operating in Congo, including weak infrastructure, corruption risks, and labor issues.

The company has a controversial history. Its Mutoshi mine has faced repeated problems with unsafe working conditions and incursions by informal miners. In earlier years, child labor and bribery allegations also surfaced. Although some reforms were attempted, informal and hazardous mining has since returned.

WSJ writes that Virtus itself is a small, eight-person firm founded in 2022 by Phil Braun, a former Green Beret, and Andrew Powch, a Naval Academy and Harvard Business School graduate. Backed by U.S. government support, the company positions the deal as part of a broader national security effort to rebuild supply chains.

Financing for the acquisition includes $200 million from Virtus and its operating partner, India’s Lloyds Metals and Energy, along with $475 million from Orion Resource Partners and additional funding. The firm has also reached an agreement with Trafigura, Chemaf’s largest creditor.

Chemaf was put up for sale after cobalt prices fell sharply in 2023. Significant additional investment—estimated at up to $300 million—is still required to upgrade facilities and increase production capacity.

The deal faced competition from China. In 2024, Chemaf had agreed to sell to Norin Mining, a subsidiary of a Chinese state-owned defense company, for $920 million. That agreement collapsed after failing to gain approval from Congolese authorities, opening the door for Virtus.

The acquisition highlights the broader geopolitical contest over Congo’s vast mineral wealth. The country produces nearly three-quarters of the world’s cobalt, and Chinese firms have already invested heavily in its mining sector.

Still, questions remain about whether Virtus can successfully operate the assets. The company has a previous investment in Congo that remains stalled due to a legal dispute, and its partner’s experience is largely outside cobalt. Even so, Lloyds expects to begin work soon and complete upgrades within about a year.

* * * Only 2 more in stock

Tyler Durden Wed, 04/01/2026 - 15:25
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In Revolutionary Statement, Fidel Castro's Grandson Embraces "Capitalism With Sovereignty"

2026-03-31T14:19:25.307-07:00

In Revolutionary Statement, Fidel Castro's Grandson Embraces "Capitalism With Sovereignty"

What is awkward for Democrats and their left-wing activist network of politicians and dark-money funded nonprofits is that the latest CNN interview with Fidel Castro's grandson shattered years of left-wing America's weird obsession with Cuban communism.

Sandro Castro told CNN's Patrick Oppmann that he would welcome a deal with President Trump and said many on the island want "capitalism with sovereignty," a remarkable admission from deep inside the Castro family that Cuba's failed economic model is no longer the pathway for the Carribean island nation suffering from decades of economic collapse, and more recently, a completely collapsed power grid.

Oppmann asked Castro: "And what would your grandfather, Fidel Castro, say if he knew that you're more capitalist than communist?"

Castro responded: "My grandfather was a person who had his principles like everyone else. But as well he respected others' opinions. That's my way of thinking."

Oppmann asked: "But all the capitalists left Cuba."

Castro responded: "There are many people in Cuba that think in a capitalistic way. There are many people who want to do capitalism with sovereignty. I think the majority of Cubans want to be capitalist, not communist."

NEW: While drinking a beer, Fidel Castro's grandson says he is a capitalist and says if it were up to him, he would welcome a deal with President Trump during an interview with CNN.

"There are many people here [in Cuba] who want to have capitalism with sovereignty." pic.twitter.com/zrIvQ6uH4Z
— Collin Rugg (@CollinRugg) March 30, 2026

We have detailed at length that the Democratic Socialists of America politicians in Washington and left-wing NGOs funded by billionaire foundations have a weird obsession with defending communism and visiting Cuba.

Just last week, the head of a U.S. left-wing nonprofit, reportedly linked to a Marxist propaganda network connected to a China-based billionaire, organized a trip of unhinged white liberals to the island to champion communism.

Yet even Fidel's own grandson is now embracing an economic transition from communism to capitalism, something the Trump administration is trying to orchestrate, while America's own Democratic Party and left-wing NGOs have yet to read the tea leaves around the world that far-left regimes and communism have fallen - just look at South America.

Meanwhile, Democrats last week in America at No Kings: Communism.

Ok fine…I’m down with this one No Kings protest:

“There is only one solution:

Communist Revolution!” pic.twitter.com/nq1CEKhdum
— Power to the People ☭🕊 (@ProudSocialist) March 28, 2026

“No Kings”, but communism is okay!

For the record, estimates suggest that communist regimes worldwide are responsible for the deaths of between 85 million and over 100 million people during the 20th century alone.

These deaths resulted from mass executions, man-made famines,… pic.twitter.com/j4LEbeLk2b
— 🇺🇸🗽LoneStarPatriot🗽🇺🇸 (@LoneStarPa00) March 31, 2026

'No Kings' protests are just plain communism. They must be stopped or avoided in any free country. pic.twitter.com/OgvwPrs7QQ
— Russell Yeagley (@ryeagleyjr) March 31, 2026

Seems like Fidel's own grandson wants food, electricity, and internet. Only possible with capitalism.

* * *

ReadyWise Spring Sale - Ends April 10th

Tyler Durden Tue, 03/31/2026 - 15:05
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Two Chinese Container Ships That Were Previously Turned Back By Iran, Now Allowed To Transit Hormuz Strait

2026-03-30T15:19:16.929-07:00

Two Chinese Container Ships That Were Previously Turned Back By Iran, Now Allowed To Transit Hormuz Strait

On Friday we reported that there was a moment of surprise among vessel trackers, when Iran unexpectedly blocked two container ships owned by China's Cosco from transiting the Strait of Hormuz.

Two days later, this misunderstanding appears to have been resolved, and on Monday Bloomberg reported that the same two container ships linked to China’s state-owned Cosco Shipping exited the Persian Gulf through the Strait of Hormuz, the first such vessels operated by a major Beijing-backed company to navigate the waterway since the Middle East war broke out.

After aborting an initial transit attempt on Friday, COSCO’s ultra-large container vessels - CSCL Indian Ocean and CSCL Arctic Ocean - have successfully crossed the Strait of Hormuz after beginning their journey eastward from within the Persian Gulf on Monday morning, signalling a potential shift in conditions for commercial shipping.

The ships started their almost 12-hour-long journeys from waters off Dubai. They took a route near Iran’s Larak and Qeshm islands at the narrow opening of the strait, before sailing into waters of the Gulf of Oman.

The ships don’t appear to be carrying any cargo aside from empty container boxes, according to draft readings of how low they sit in the water. They are listed as part of Cosco Shipping Lines’ fleet, which is a subsidiary of Cosco Shipping Corp. Both vessels are currently bound for Port Klang, Malaysia, as they continue their voyage on COSCO’s MEX service, linking the Middle East with the Far East.

The global shipping market has been keenly watching the journeys of these two Cosco ships for signs of how China plans to extract its vessels from the gulf, as it seeks to stem a deepening energy crisis and a plunge in China-to-Middle East trade.

The two vessels, each with the capacity to transport about 19,000 TEUs, were seen taking the same route on Monday. They have been stuck in the Persian Gulf for more than a month since the US and Israel launched the war against Iran.

The successful transit marks the first confirmed crossing by a major container carrier since the start of the conflict.

Cosco Shipping is one of the world’s largest shipowners, with massive containership and tanker fleets operated by its subsidies. Aside from the container ships, Cosco also has at least six crude tankers stuck inside the Gulf since the war began, according to ship-tracking data.

In an early sign of a resumption of Hormuz transits, Cosco Shipping Lines last week informed customers that it would be recommencing bookings for general cargo containers from east Asia to the Middle East, including some located in the gulf. The company owns and operates 453 container ships that have a total capacity of about 2.5 million twenty-foot equivalent containers, or TEUs, as at end January.

Tyler Durden Mon, 03/30/2026 - 16:50
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