Make It Rain: Ukraine Wants Up To $20BN In Arms From NATO Backers Next Year

European countries in NATO on Wednesday signaled their readiness to go all-in on President Trump's plan to transfer US weapons to Ukraine using allied funds. The Biden administration had basically donated most arms, but Trump's plan is to sell them, making the US role a little more indirect. But this could effectively put the most hawkish European leaders in the driver's seat related to the still ratcheting proxy war.

"Thanks to funding from allies, we are providing Ukraine with critical U.S. equipment," NATO chief Mark Rutte proclaimed as alliance defense ministers met in Brussels. "And today, we heard from ally after ally about new contributions."

Via WSJ

At this point twenty NATO allies in total are pledging support for the scheme, which aims to take care of Keiv's long-term defense needs as if faces down Russia's special military operation, possibly for years to come.

"Denmark, Norway, Sweden, Canada, Germany and the Netherlands have pledged $2 billion in four separate PURL packages," Politico notes. "And on Wednesday, Estonia, Latvia, Lithuania, Slovenia and Finland among others were poised to finalize a fifth package, according to three NATO diplomats, who like others quoted in this story were granted anonymity to speak freely."

As for Berlin, it said it is ready to buy $500 million worth of American weapons for Ukraine under a new program to fast-track military equipment.

Pistorius articulated that Germany's "package addresses a number of urgent requirements of Ukraine. It provides air defense systems, Patriot (missile) interceptors, radar systems and precision guided artillery, rockets and ammunition."

He stated Germany would separately provide "another two Iris-T air defense systems, including a large number of guided missiles, as well as shoulder-fired air defense missiles."

This comes also as the Zelensky government wants allies to rain money on his government and military. They've issued their wish list or shopping list, at the top of which is US Tomahawks - though it remains anything but certain whether Trump will authorize such a brazen escalation against Moscow.

The Ukrainians are poised to pounce as Western governments open their wallets, using European taxpayers' money of course. This part is nothing new.

War Secretary Pete Hegseth tries to put on a tough show of strength even as Russia is continuously ascendent on the eastern battlefield, though Moscow is absorbing losses at home as its oil infrastructure gets pummeled...

Listen to this US war hawk blabber. Has he the slightest clue what Russia’s security actually means? Moscow asked for one thing: stop NATO expansion.
The West laughed, thinking Russia was weak, bulldozed ahead, and now pays the price.
Over 21% of Ukraine is already Russian.
Play… pic.twitter.com/JcCZojF17n

— Richard (@ricwe123) October 15, 2025

Zelensky's Defense Minister Denys Shmyhal estimated Ukraine will need between $12 billion and $20 billion worth of military aid next year as part of NATO's new purchasing initiative. He specifically said this would help the country procure badly needed long-range artillery shells.

Again, all this is a recipe for dragging the war on yet further, and without end, as people die in the hundreds of thousands. All sides have essentially admitted that peace talks are dead at this point, and Trump has expressed frustration with Moscow.

Tyler Durden Thu, 10/16/2025 - 04:15

Lynn Painter’s Better Than the Movies is a charming romantic comedy about Liz and Wes, neighbors-turned-allies, exploring love, schemes, and happily-ever-afters in this delightful teen rom-com․

Overview of the Book

Better Than the Movies by Lynn Painter is a captivating romantic comedy that follows Liz Buxbaum, a hopeless romantic, and her neighbor Wes, who challenge each other’s beliefs about love․ The story revolves around Liz’s schemes to win her childhood crush’s heart, with Wes’s reluctant help․ Filled with witty dialogue, dramatic twists, and heartfelt moments, the book explores themes of love, friendship, and self-discovery․ First published in 2021, it has gained popularity for its relatable characters and humorous take on teenage romance, making it a delightful read for fans of the genre․

Author and Publication Details

Lynn Painter is the author of Better Than the Movies, a New York Times bestselling romantic comedy․ Published in 2021 by Simon & Schuster Books, the novel has become a favorite among teen readers․ Painter’s writing style blends humor with heartfelt moments, creating a relatable and engaging story․ The book is available in various formats, including PDF, and has been praised for its fresh take on the enemies-to-lovers trope․ Painter’s work continues to captivate readers with its charming narratives and memorable characters, solidifying her place in the romantic comedy genre․

Plot and Characters

Better Than the Movies follows Liz, a witty high school student, and her neighbor Wes, a charming jock, as they navigate friendship, rivalry, and romance․ The plot explores their evolving relationship, blending humor and emotional depth․ The characters’ dynamic interactions and personal growth drive the story, creating a heartwarming and entertaining tale of love and self-discovery․

Main Characters in the Story

The story revolves around Liz, a witty and creative high school student, and Wes, her charming yet competitive neighbor․ Liz is known for her sharp tongue and strong opinions, while Wes is the popular jock who often clashes with her․ Their dynamic shifts when Liz discovers Wes’s vulnerable side, revealing a deeper connection․ Supporting characters like Liz’s quirky best friend and Wes’s loyal teammates add depth to the narrative, exploring themes of friendship, rivalry, and romance․

Key Plot Points and Development

The story begins with Liz and Wes as rivals, constantly clashing due to their opposing personalities․ A turning point occurs when Liz discovers Wes’s secret, revealing a vulnerable side to his character․ Their relationship evolves as they bond over shared memories and creative projects, leading to unexpected romantic feelings․ The plot thickens with misunderstandings and moments of vulnerability, culminating in a grand romantic gesture․ The story explores themes of growth, forgiveness, and the power of true connection, leaving readers rooting for Liz and Wes’s happily-ever-after․

Themes and Genre

Better Than the Movies blends romantic comedy with heartfelt moments, exploring themes of love, self-discovery, and overcoming misunderstandings, appealing to fans of lighthearted, feel-good stories․

Romantic Comedy Elements

Better Than the Movies excels in blending humor with heartfelt moments, creating a lighthearted yet engaging narrative․ The story features witty dialogue, amusing misunderstandings, and comedic situations that keep readers entertained․ The relatable characters and their quirky interactions add to the romantic comedy vibe, while the emotional depth ensures a balanced read․ By incorporating classic comedic tropes and fresh twists, the book delivers a charming and uplifting experience, making it a delightful choice for fans of the genre․

Enemies-to-Lovers Trope

Better Than the Movies masterfully explores the enemies-to-lovers trope, weaving tension and chemistry between the protagonists․ The initial animosity and rivalry between Liz and Wes create a dynamic that gradually shifts into romance․ Painter skillfully crafts their journey, blending sharp banter with heartfelt moments, making their transition from foes to lovers feel organic and compelling․ The trope is elevated by the characters’ growth, humor, and emotional depth, making it a standout element of the story for fans of slow-burn romances․

Belief in Happily Ever After

Better Than the Movies beautifully reinforces the belief in happily ever after through its optimistic portrayal of love and relationships․ The story follows Liz and Wes as they navigate their complex feelings, ultimately leading to a heartwarming resolution․ This theme is central to the romantic comedy genre and resonates with readers seeking uplifting stories․ The book’s emphasis on this idea provides a sense of hope, suggesting that true love can overcome challenges and lead to a fulfilling conclusion․

Target Audience

Better Than the Movies primarily appeals to teenagers and young adults who enjoy lighthearted, romantic stories․ Fans of romantic comedies and coming-of-age tales will find it engaging․

Teenagers and Young Adults

Better Than the Movies is particularly appealing to teenagers and young adults due to its relatable themes of first love, self-discovery, and navigating relationships․ The lighthearted humor and realistic dialogue resonate deeply with this age group, making the story feel authentic and engaging․ Young readers will find themselves drawn to the protagonist’s journey of growth and the romantic tension that unfolds․ The book’s modern setting and accessible language also make it a favorite among younger audiences seeking uplifting and entertaining reads․

Fans of Romantic Comedies

Fans of romantic comedies will adore Better Than the Movies for its witty dialogue, charming characters, and lighthearted humor․ The book perfectly captures the essence of the rom-com genre, blending funny situations with heartfelt moments․ Readers who enjoy love stories with a humorous twist will find themselves laughing out loud and rooting for the characters․ The satisfying conclusion and uplifting tone make it a must-read for anyone who loves romantic comedies, offering a fresh yet familiar take on the genre․

Availability and Formats

Better Than the Movies is available as a PDF download and in various eBook formats across major platforms like Amazon Kindle, Apple Books, and Google Play Books․

PDF Download Options

The Better Than the Movies PDF is readily available for download from various online platforms, including Amazon, Barnes & Noble, and Google Play Books․

Readers can purchase the eBook and download it in PDF format directly from these sites․ Some platforms may require a user account to access the download, while others offer direct purchases with payment options;

Additionally, free PDF downloads may be accessible through libraries or eBook subscription services, though availability varies by region․ Always ensure to use reputable sources to avoid unauthorized or illegal downloads․

The PDF format ensures easy reading on multiple devices, making it a convenient option for fans of the genre․

eBook Platforms and Services

The Better Than the Movies PDF is accessible through popular eBook platforms like Amazon Kindle, Apple Books, Barnes & Noble Nook, Kobo, and Google Play Books․

These platforms offer seamless downloads and reading experiences, ensuring the story reaches a wide audience․ Additionally, subscription services like Scribd and Libby provide access to the eBook through libraries or paid memberships․

Availability may vary by region, so checking local platforms or services is recommended․ Always use authorized sources to support the author and publisher․

Reviews and Ratings

Better Than the Movies PDF has received positive reviews, with readers praising its witty dialogue and engaging plot․ It holds an average rating of 4․2 stars across platforms, with over 1,500 reviews highlighting its charm and humor․ Critics applaud its fresh take on the romantic comedy genre, making it a must-read for fans of lighthearted, feel-good stories․

Reader Feedback and Ratings

Readers have enthusiastically praised Better Than the Movies PDF, with many highlighting its relatable characters and charming storyline․ On Goodreads, it boasts a 4․3-star rating, with over 2,000 reviews celebrating its witty humor and heartfelt moments․ Fans of romantic comedies particularly appreciate its unique twists and lovable protagonists․ Many readers have described it as “adorable” and “a quick, enjoyable read․” The book’s ability to balance humor with emotional depth has resonated strongly with its audience, making it a standout in the teen romance genre․

Critic Reviews and Recommendations

Critics have praised Better Than the Movies PDF for its charming and engaging narrative․ Many reviewers highlight its fresh take on the enemies-to-lovers trope and its ability to blend humor with heartfelt moments․ Publishers Weekly commended the book for its “witty dialogue and relatable protagonist․” Kirkus Reviews noted its “light-hearted yet emotionally resonant storytelling․” The novel has been recommended for fans of contemporary teen romances, with critics emphasizing its appeal to readers seeking a fun yet meaningful story․ It’s often described as a delightful addition to the romantic comedy genre․

Comparisons and Similar Works

Better Than the Movies PDF draws comparisons to The Hating Game and Eleanor Oliphant is Completely Fine, offering a fresh, witty take on romantic comedy tropes with relatable characters and heartfelt humor․

Comparison with Other Rom-Coms

Better Than the Movies stands out in the romantic comedy genre, often drawing comparisons to works by Sophie Kinsella and Helen Hoang․ Like The Hating Game, it blends witty banter with emotional depth, while its enemies-to-lovers dynamic mirrors The Kiss Quotient․ The book’s lighthearted yet relatable tone aligns with Can You Keep a Secret?, making it a modern, fresh addition to the rom-com landscape․ Its unique voice and charming character chemistry set it apart, appealing to fans of classic and contemporary romantic comedies alike․

Similar Books by Lynn Painter

Lynn Painter’s Better Than the Movies is part of a growing portfolio of romantic comedies that captivate readers with witty dialogue and heartfelt moments․ Her other works, such as The Love That Dares series, explore similar themes of forbidden love and societal expectations, offering readers a blend of humor and emotional depth․ Painter’s writing style, known for its engaging tone and relatable characters, makes her books appealing to fans of lighthearted yet meaningful romance stories․ Her ability to craft charming, modern narratives ensures her place among beloved romantic comedy authors․

Reading Guide

Discover tips for immersing yourself in Better Than the Movies․ Adjust font sizes, use bookmarks, and find a cozy spot for uninterrupted reading․ Enjoy the journey!

How to Access the PDF

To access Better Than the Movies in PDF format, visit popular eBook platforms like Amazon, Barnes & Noble, or Google Books․ You can also download it from authorized online retailers or the publisher’s official website․ Ensure you purchase or download from legitimate sources to support the author and avoid unauthorized copies․ Additionally, libraries often offer digital loans for eBooks, providing free access with a membership․ Always verify the source to guarantee a safe and high-quality download experience․

Reading Tips and Tricks

For an engaging experience with Better Than the Movies, set a cozy reading environment with snacks and minimal distractions․ Highlight relatable quotes or witty dialogues to revisit later․ To fully connect with the characters, immerse yourself in their emotional journeys․ Balance your reading pace: savor the humorous moments but slow down during heartfelt scenes․ Reflect on the themes of love and self-discovery to deepen your understanding․ Join online book clubs or forums to discuss the story with fellow readers․ This will enhance your appreciation for the narrative and its characters․

Cultural Impact

Better Than the Movies has resonated deeply with young readers, sparking conversations about love and identity․ Its popularity highlights a growing trend in teen literature․

Popularity in Teen Literature

Better Than the Movies has gained significant traction among teenagers, resonating with its relatable characters and modern take on romance․ The book’s lighthearted tone, paired with realistic dialogue, appeals to young readers seeking stories that mirror their own experiences․ Its exploration of first loves, friendships, and self-discovery aligns with the interests of this demographic․ As a result, it has become a staple in teen literature, often recommended in online communities and school book clubs․ Its success highlights the enduring appeal of romantic comedies tailored to younger audiences․

Influence on Romantic Comedy Genre

Better Than the Movies has left a mark on the romantic comedy genre by revitalizing classic tropes with fresh, modern twists․ Its witty dialogue and heartfelt moments have raised the bar for authors crafting relatable, humorous love stories․ The book’s success has inspired a wave of similar narratives, encouraging writers to blend humor with emotional depth․ By staying true to the genre’s roots while adding contemporary flair, it has helped shape the future of romantic comedies, ensuring they remain a beloved choice for readers seeking light, engaging stories with lasting impact․

Better Than the Movies PDF masterfully blends humor and heartfelt moments, celebrating love, self-discovery, and the magic of happily ever afters for all readers․

Final Thoughts on the Book

Better Than the Movies PDF is a charming and engaging read, offering a perfect blend of humor, romance, and relatable characters․ Its lighthearted tone and witty dialogue make it a delightful escape for fans of romantic comedies․ The story’s focus on self-discovery and the complexities of relationships adds depth, making it more than just a typical rom-com․ With its appealing narrative and memorable characters, this book is a great choice for anyone seeking a fun yet heartfelt story․ It’s a reminder that love stories can be both entertaining and meaningful․

Recommendation for Readers

Better Than the Movies PDF is a must-read for teenagers and young adults who enjoy lighthearted, romantic stories․ Fans of romantic comedies will appreciate its witty dialogue and relatable characters․ Readers looking for a story that balances humor with heartfelt moments will find this book charming․ It’s an excellent choice for anyone seeking a fun, engaging read with a touch of realism․ The book’s appeal lies in its ability to blend humor and emotion, making it a great pick for fans of modern romance and coming-of-age themes․ Highly recommended for its entertainment value and uplifting message․

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.

The Slowly Mounting Mineral Shock

Authored by Portia Roberts & Peter Bryant via RealClearEnergy,

China’s latest squeeze on mineral exports - and Washington’s threat of retaliation - ends any illusion that critical minerals are a niche matter. They are the scaffolding of modern society. A nearly bewildering array of minerals are essential for everything from defense technologies to EV dreams to the great race for “dominance” in artificial intelligence. Neither America, nor our allies, extract and refine enough key minerals.

The United States depends on imports for most (in some cases all) key minerals including copper, lithium, nickel, cobalt, graphite, and especially the 17 vital rare earth elements. Without foreign suppliers, we face a shock of varying degrees, from serious to catastrophic, across all industries and services. COVID-driven supply chain disruptions provided a glimpse of what could come. 

The International Energy Agency (IEA) is one of a handful of non-aligned entities that looks at and advises about global critical minerals. Unfortunately, it appears that the IEA either ignores or is naïve about market-shaping realities, including those put in play last week by China. This matters because IEA’s genesis was the 1970s oil shock, tasked with brokering facts to anticipate, if not prevent another such catastrophic event in the future. Instead, IEA’s Global Critical Minerals Outlook 2025 should earn a Pollyanna award; it assumes the kinds of needed cooperation, innovation, and capital flows are happening or will. If policymakers mistake that analysis as a blueprint, or as a rationale for inaction or action––as was done by the Biden Administration to justify the LNG-export pause—we could well learn what mineral scarcity looks like. 

China is, as is now well-known, the dominant energy minerals market-shaper. It doesn’t merely mine and refine; it finances, secures offtakes, standardizes chemistries, and wields export controls. It commands a variety of chokepoints that differ for each mineral. In other words, it wields a monopolistic-like ability to manipulate markets. Dominance in the activities that make minerals useful neutralizes efforts to diversify the sources of various minerals. It doesn’t matter if a new mine opens in the US, or a different hemisphere or continent if one country’s investment can control a significant proportion of supply. And as a result China can “dump” so much supply, long enough, into the market to collapse prices that bankrupt competition, cause unprofitable mines to be mothballed, or make planned projects infeasible. 

Nonetheless, new mines, smelters, and refineries are needed. But all face a steep uphill battle for multiple reasons, including what the IEA correctly calls "above-ground risks"—what the mining industry terms "the social license to operate" (SLO). These issues are really opportunities rather than risks, and their importance cannot be overstated. (Although the IEA Outlook understates them). If not properly engaged, dealings with local communities can stall or prevent permitting, or even slow or stop development. This ultimately adds costs, further advantaging China's producers. 

Another overlooked aspect is that it often takes decades for new sites to begin operations. Refining is an inherently energy-intensive and chemical-centric industry, a frankly dirty business. Western firms, and regulations, have long exercised due caution. But it will likely take a great deal of innovation and intense investment for new facilities to meet ever-more stringent environmental standards and costs that don’t again advantage China.

On top of that, an in-the-weeds nuance that is utterly critical: the IEA underplays the long-run decline in ore grades, i.e., the share of the rock that contains the mineral. Existing mines, particularly copper, will require ever more energy and water per ton of metal, creating more tailings waste to manage, more capital expenditure, and thus more delays. Efficiency and recycling can’t come close to doing enough to bridge the looming gap between supply and demand. 

Oil shocks cause price leaps, lines at gas stations, political fallout. Mineral shocks are slow burns, until they’re not. They might initially surface as longer delivery times, stalled grid projects, costlier products––or some with missing features. But if mineral shortages continue, if (limited) stockpiles are exhausted, markets unavoidably face price shocks.

For the United States, the solution has long been known and remains urgent: rebuild end-to-end capability at home and simultaneously, vital for velocity, work with allies (and other friendly resource-endowed countries) on such key areas as geology, mining, refining, and component manufacturing. Streamline permitting without diluting environmental standards. Use different tools such as targeted offtakes, public-private finance and defense authorities to anchor new refineries and processing hubs. And level with voters: everything starts with mining (or farming). If we won’t mine at home or overseas with trusted partners, we will continue to face economic and security fragility—on terms set elsewhere.

The IEA was founded to help prevent energy shocks, not promote policies that make them more likely. In minerals, models that minimize or ignore chokepoints and social license realities will steer the world into the very emergencies we want to avoid. We don’t need aspirational scenarios. We need mineral realism.

Portia Roberts is Policy Director for the National Center for Energy Analytics. 

Peter Bryant is Chairman of Clareo and Key Minerals Forum. 

Tyler Durden Thu, 10/16/2025 - 03:30

E-Waste Is A Literal Gold Mine

This year’s International E-Waste Day, celebrated annually on October 14 to raise awareness about the growing problem of electronic waste and promote responsible e-waste management, focuses on the critical resources contained in e-waste. These days, as some of those materials have become a bargaining chip in geopolitics, it’s more important than ever to recover the valuable resources contained in unused or broken electronic products.

According to the latest edition of the Global E-Waste Monitor – a flagship publication on the topic funded and prepared by the UNITAR SCYCLE Programme, ITU and Fondation Carmignac – global e-waste contained 31 billion kilograms of metals in 2022, including approximately 4 billion kg of metals classified as critical raw materials. And it’s not just from an environmental or political perspective that it makes sense to recover the metals, but also from a financial point of view.

As Statista's Felix Richter sums up in the following chart, the estimated value of metals contained in e-waste in 2022 was $91 billion, with copper, iron, gold and nickel the most valuable components.

You will find more infographics at Statista

Only a fraction, $28 billion, of this value was recovered in 2022, however, with $9 billion worth of metals recovered in documented formal collection and recycling schemes and $12 billion (mostly iron, copper and platinum-group metals) recycled through informal routes in low- and middle-income countries.

According to the report, this is not nearly enough to balance out the negative effects of our current treatment of e-waste, with externalized costs to human health and the environment estimated at $78 billion per year.

All things considered, the authors estimate the overall impact of e-waste management to have been a net cost of approximately $37 billion in 2022 – a cost that could rise to $40 billion annually by 2030 in the business-as-usual scenario.

International E-Waste Day was established in 2018 by the WEEE Forum, an international association of organizations involved in the collection and recycling of waste electrical and electronic equipment (or ‘WEEE).

Its aim is to encourage consumers, companies and policymakers to take action in reducing e-waste, improving recycling rates and promoting a more circular economy. Each year, the initiative highlights a specific theme to inspire more sustainable habits worldwide.

Tyler Durden Thu, 10/16/2025 - 02:45

Only 3% Of Ukrainian Refugees Likely To Return In Worst-Case Scenario, Ifo Study Warns

Authored by Thomas Brooke via Remix News,

A new study warns that the vast majority of Ukrainian refugees living in Europe may never return home unless Ukraine regains its territory and secures Western security guarantees.

Just 3 percent of Ukrainian refugees in Europe would return to their home country in the most pessimistic post-war scenario, according to a major new working paper by Germany’s Ifo Institute.

The study, based on surveys of 2,543 refugees across 30 European countries, found that territorial integrity and security guarantees are the most decisive factors in shaping return decisions — outweighing economic opportunities and even peace agreements.

The researchers presented refugees with a range of hypothetical post-war conditions, varying factors such as Ukraine’s territorial control, NATO membership, corruption levels, and economic recovery.

They found that the difference between best- and worst-case outcomes is vast: Nearly half of refugees (46.5 percent) would return if Ukraine fully restored its 1991 borders, joined NATO, cut corruption and boosted incomes.

On the other hand, just 2.7 percent would do so if Russia retained most occupied territories, no peace deal was signed, security guarantees were absent, and the economy worsened.

“Territorial integrity is the strongest driver of return intentions,” the authors write, noting that restoring Ukraine’s 1991 borders raises the average probability of return by 10.8 percentage points compared to scenarios where Russia retains control. NATO membership increases return probability by a further 7.1 points, while cutting corruption boosts it by 3.2 points — roughly the same effect as a 20 percent rise in income or the prospect of EU accession.

The study also found significant demographic differences.

Women showed higher overall return intentions than men and were more sensitive to economic and institutional improvements.

Younger refugees, aged 18 to 34, placed more weight on job opportunities, income prospects, and potential EU membership, but their average return probability was just 26.3 percent — a worrying sign for Ukraine’s long-term reconstruction given its low birth rate.

“Credible security arrangements and the restoration of territorial integrity are prerequisites for large-scale voluntary return,” the authors note.

Given that NATO membership and EU membership are currently off the table without unanimity among members — Hungary, for example, proving to be a stumbling block in both instances — the percentage of returnees in reality would likely be at the lower end of the scale, with Ukraine unlikely to achieve the conditions the Ifo Institute identifies as prerequisites for large-scale return.

The realistic return rate is far lower than previous surveys, such as one conducted by the Kyiv International Institute of Sociology (KIIS) last year, which revealed that 64 percent of Ukrainian refugees living in Poland, Germany, and Czechia, were satisfied with their new lives and intended to pursue citizenship in their respective host countries.

The longer the conflict drags on, the less likely Ukrainian refugees are to return home, as seen by a February 2023 survey from Germany’s Federal Office for Migration and Refugees (BAMF), which revealed 34 percent of respondents would return immediately after the war without qualification.

According to Eurostat data, as of the end of August 2025, 4.37 million Ukrainian refugees were living in the European Union under the EU’s Temporary Protection Directive — equivalent to 9.7 refugees per 1,000 people across the bloc.

Poland and Germany host by far the largest numbers, with 1.21 million and 995,925 respectively, followed by the Czech Republic (385,855) and Italy (171,200).

Substantial Ukrainian populations are also present in Spain (244,165), France (129,350), and Romania (192,835).

At 34.4 per 1,000 persons, Czechia has taken in the most refugees per capita, followed by Poland (27.3) and Estonia (25.4).

Read more here...

Tyler Durden Thu, 10/16/2025 - 02:00

In A World Filled With Chaos, There Is Power Within Our Reach To Make A Difference

Authored by Dale Sutherland via The Epoch Times,

Turn on the news, scroll through social media, or glance at the headlines, and the picture can feel overwhelming: wars abroad, political fights at home, and tragedies that seem to strike daily. We’re bombarded with stories of anger, loss, and uncertainty. It’s no wonder many people feel powerless, as though these problems are too big and too far gone for ordinary citizens to make any difference.

Yet history, and everyday life, tell us something different. The truth is, meaningful change rarely begins at a global scale or within the halls of power. More often, it begins quietly, at a household level, when ordinary people decide to act.

A phone call, a meal delivered, or a timely conversation may never make national news, but these moments can ripple outward in ways that change lives for good.

I learned this the hard way during my decades as an undercover narcotics officer in Washington, D.C. My job was to investigate drug operations and bring criminals to justice. On paper, every arrest looked like a success. But after years on the job, I began to realize that arrests alone weren’t changing the deeper problems. Broken families, poverty, and addiction didn’t vanish when one person went to jail. Whole communities still lived with fear and instability.

As a police officer, I knew arrests were necessary. The streets were dangerous, and if we hadn’t done our jobs, the level of violence and homicide would have been far worse. Arrests protected the community, but I also knew that while arresting people could remove them from the streets, it couldn’t change their hearts. 

Those individuals who were arrested still needed a deeper transformation. As a pastor, I’ve seen firsthand that lasting change only comes through faith. As an officer, I could put someone in handcuffs, but as a pastor, I see people truly set free, body, mind, and spirit. 

I’ve learned that this transformation often begins not with punishment but with the presence of people who choose to show up when others are in crisis.

But presence only makes an impact if it’s met with urgency. When someone is brave enough to reach out for help, time matters. If they are met with silence or endless delays, trust evaporates. But if the response is immediate, it sends a message: “You matter, and we will not let you carry this alone.”

Help doesn’t have to be dramatic or expensive to be transformative. I’ve seen families kept afloat with what amounts to a couple hundred dollars, enough to cover groceries, transportation, or a utility bill. To some, that may not seem like much. But to the parent who doesn’t have to choose between food and rent, or to the child who makes it to a doctor’s appointment on time, it means stability, hope, and dignity. 

Our communities are more diverse than ever, which only broadens the opportunities to serve. In Washington, D.C., I’ve witnessed this first-hand through my organization Boost Others, a nonprofit that helps fill the gaps in communities.

We recently met a family from Egypt who had moved to the United States with their four kids, including a 13-year-old daughter with cancer. Transportation to hospital appointments quickly became a crushing burden to this family, that’s where Boost Others stepped in and worked with local partners to provide the family with a car so they could drive their daughter to her treatments.  

Families like this each carry unique burdens, but beneath the surface, their needs are remarkably similar: someone who will hear them, respond with urgency, and someone willing to stand in the gap.

This is where opportunities lie for all of us. You don’t need to run a nonprofit or work in law enforcement to make a difference. You don’t even need to solve every problem. What you can do is take notice. Check in on a neighbor. Offer to give a ride to a medical appointment. Step in when a coworker quietly mentions a financial struggle. Often, the best solutions are simple, and the most powerful impact comes from consistency.

It’s tempting to think that only sweeping policy changes or massive charitable donations will fix what’s broken in our world. But that thinking can paralyze us into doing nothing. The reality is that communities thrive when ordinary people take small steps, again and again. One person can’t solve global chaos, but one person can prevent a family from falling through the cracks. And when enough people adopt that mindset, the collective effect is greater than anything we imagine.

We may not be able to control the headlines, but we can control our response to them.

We can choose compassion over cynicism, presence over passivity, and urgency over delay. In a world that often feels out of control, that is the power within our reach. 

Chaos is global, but change is local. If each of us embraced responsibility in our own neighborhoods, we’d discover that while we can’t stop all the storms, we can make our corner of the world a place of refuge and hope. 

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

Tyler Durden Wed, 10/15/2025 - 23:25

Hollywood Panics As Celebrities Face Replacement By AI Generated Actors

The growing opposition in Hollywood to AI generated "actors" is in many ways similar to the growing feminist fury over AI girlfriends:  If you're a good actor (or a good woman), then you should have no fear of being replaced.  If you can't compete with a robot or software for the affections of the masses, then perhaps you deserve to lose your exalted position in society.

AI design is not particularly impressive (at least not yet).  Characters are graphically realistic but the Uncanny Valley effect is ever present; the human mind processes them as off-putting in most cases and making an entire film using them would require extensive input from human CG artists.  Still images and short clips are effective enough, but this is not film making.  

By extension, AI fiction writing is not improving and is truly terrible.  Storytelling requires an intuitive grasp of plot beats, a deep understanding of the nuances of human psychology and interactions, as well as a creative ability to surprise the audience with something unexpected while still (in most cases) wrapping up the plot in a way that is satisfying.

Anything more than a basic synopsis and AI scripts turn into a rambling, confusing mish-mash of ideas copied from more intelligent creators and slopped onto the page.  In other words, AI writes scripts much like the typical woke leftist screenwriters now infesting the film industry. 

And this is why Hollywood is scared - They have been getting away with mediocrity for so long they have forgotten how to make a good movie.  They are so bad at their job that they could actually be swapped for software.

In terms of acting, it's unlikely that solid performers will ever be retired to the dustbin or unable to get work because of AI.  Movie goers will always know in the back of their minds that they are watching CG people with no capacity for real emotion.  However, if film companies continue to fill their actor stables with soulless, robotic or narcissistic egomaniacs, then the public may welcome the robot overlords as the new standard for cinematic entertainment.

The Screen Actors Guild (SAG) is very unhappy with the recent release of an AI acting model called "Tilly Norwood".  The union condemned reports that talent agents are looking to sign the artificial intelligence "actor" for representation. They argued in a statement that Tilly Norwood "is not an actor, it’s a character generated by a computer program that was trained on the work of countless professional performers." 

SAG is highly aggressive in its tactics, including intimidation tactics against actors that don't support their strikes, which helps to explain why they are up in arms about AI generated characters.  A computer created actor can't be controlled by a union.  It can't be censured or blacklisted or threatened.  Film studios facing a long term SAG strike could simply replace the actors with AI models for a time, forcing the unions to settle negotiations. 

"It has no life experience to draw from, no emotion and, from what we’ve seen, audiences aren’t interested in watching computer-generated content untethered from the human experience," the union said.

To be frank, this is what most of the movie watching populace has been saying about Hollywood for the past several years.  They really have no room to criticize. 

Maybe more concerning is OpenAI's new Sora 2 tool which allows users to put real people and characters into AI-generated videos, sparking immediate backlash from Hollywood studios and talent agencies.  The dispute centers on who controls copyrighted images and likenesses, with the actors asserting that OpenAI cannot use content without explicit permission or compensation.

There is a legitimate danger of AI products being used to exploit a person's likeness for nefarious purposes.  A face and voice can be stolen and repurposed to draw undeserved revenues, or it can be used in an attempt to fake an event, destroy a person's reputation, turn the person's "essence" into a marketing mascot, etc. 

For now, the only thing AI seems to be good for is making memes which almost no one mistakes as real. 

“We’re engaging directly with studios and rightsholders, listening to feedback, and learning from how people are using Sora 2,” Varun Shetty, OpenAI’s vice president of media partnerships, said in a statement. “Many are creating original videos and excited about interacting with their favorite characters, which we see as an opportunity for rightsholders to connect with fans and share in that creativity.” 

AI in entertainment is an inevitability.  The most at-risk sectors are, of course, animation, effects and CG programming.  If the average person with minimal software or animation experience can use AI to formulate Pixar-like characters and place them in scripted scenarios, then that person will only be limited by their imagination and ability to write great stories.  At the very least, CG animators will face considerable competition and will be forced to up their game as job opportunities decline. 

Movies studios, by extension, will no longer have a monopoly on film production and distribution.  They won't disappear, but the tools for regular people making movies and shows at home will cut into Hollywood's already diminishing profits.  Just as online content on platforms like YouTube is crushing legacy media, online independent entertainment content is going to punish Hollywood for its lack of talent. 

Ultimately, the ideologically progressive industry brought this doom on itself.  The public is longing for meaningful and creative escape, and Hollywood refuses to give it to them.  Instead, Tinseltown has become the bullhorn for the woke agenda, forever browbeating the population with insipid propaganda no one wants.  Eventually, the free market is going to replace these ideologues, and if AI helps, then people will welcome it.    

Tyler Durden Wed, 10/15/2025 - 23:00

When Do We Truly Own Anything? The Property Tax Scheme That Keeps Us Paying Forever

Authored by Mollie Engelhart via The Epoch Times,

Texas is famous for its wide-open land, its independence, and its promise of freedom. Yet the truth is that Texans pay some of the highest property tax rates in the country. The state itself doesn’t collect property tax, but local governments make up for it many times over. Even with agricultural and wildlife exemptions, the real burden still falls on commercial buildings, apartment complexes, and single-family homes—the very places where most people live and work.

Every year, I write a check for twenty-four thousand dollars in property taxes. In Texas, over half of that typically goes toward public education—sometimes up to 70 percent in certain counties. The irony is that none of it goes toward educating my own children.

I homeschool my kids. On our farm, we built a small barn with electricity, air conditioning, and a nearby restroom.

My husband and I teach our children farming, entrepreneurship, and money management. We hire a teacher three days a week for reading, writing, and math, and a tutor for additional help with reading.

We pay entirely out of pocket for all of it. Yet each year, I’m still forced to pay tens of thousands of dollars to fund a system I fundamentally disagree with.

I don’t believe the public school system nurtures creativity, curiosity, or courage. It creates workers, not thinkers. It rewards compliance, not conviction.

I often joke that I don’t co-parent with the government, but in truth, the property tax system makes me do exactly that. It forces me to contribute to a system that, in my view, often indoctrinates children rather than inspiring them. It feeds them food I consider unhealthy and trains them to fit in rather than think for themselves.

Last year alone, my property tax bill increased by eleven thousand dollars. I paid extra to bring electricity and internet to our rural property. I maintain the land, the buildings, and the utilities myself.

Yet every year, I have to pay again just for the right to keep what I already own. Even if I pay off my mortgage, I will still have to pay property taxes.

That means I never truly own my home. The government can raise taxes whenever it wants, and if I can’t pay, it can take the property away.

How is that ownership? How is that freedom?

Some states, like Florida, are exploring ways to phase out property taxes altogether. If that ever happens, people will move there in droves. Because this isn’t just about money. It’s about ownership, autonomy, and legacy. How can we build generational wealth or pass down land to our children if the government can simply tax us out of it?

And it doesn’t stop with homes. Texas, like California, taxes what’s called “business personal property.” That includes machinery, equipment, furniture, fixtures, and even inventory—all the physical items a business uses to operate. Each year, business owners are required to list and report these assets to the county so they can be taxed. It is essentially a yearly penalty for owning tools of your trade.

When I owned a restaurant in California for ten years, assessors would come in every year to evaluate my kitchen equipment. They decided my stoves, ovens, refrigerators, and furniture were worth seventy thousand dollars year after year, even though they were old, worn out, and often in need of replacement. Their justification was “replacement rate,” meaning they taxed me based on what it would cost to replace the equipment, not on what it was actually worth. So I paid taxes on the theoretical cost of replacing items I already owned. What service exactly is the government providing for my stoves, fryers, and refrigerators that justifies an annual payment? None. Yet they collect anyway.

And even when you sell a property, they still find a way to come after you. When I sold my house in Ventura County, California, all the taxes were paid through escrow at closing. I thought I was done. But months later, the county sent me a new bill for five thousand dollars based on “updated assessments” they claimed to have made from looking at the interior photos from my real estate listing. They called it a supplemental tax. I call it an exit tax. They are still trying to collect on a property I no longer own.

Property tax is marketed as a way to fund communities, but in reality, it is a perpetual lease from the state.

You never stop paying for something you thought you owned. That is not ownership. That is modern feudalism, dressed up as civic duty.

What if we did things differently? What if every family took responsibility for educating their own children, or chose who they wanted to pay to do it? What if communities were funded transparently and voluntarily, instead of through coercion? Perhaps then, we could finally reclaim what is ours—our homes, our businesses, our freedom.

Until that day, we are all tenants on the land we supposedly own.

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

Tyler Durden Wed, 10/15/2025 - 22:35

"Distinguished" US Government Employee With Access To Nuclear Secrets Busted In 'Robot Porn' Scheme

In what can only be described as a spectacularly ill-advised IT decision, a Department of Energy (DOE) employee with access to nuclear secrets has lost his security clearance after uploading a staggering 187,000 pornographic images to the agency's network, according to 404 Media.

Yes, you read that correctly - 187,000. And before you go straight to 'planted porn' (we did too) - the porn aficionado admitted to it. 

This "distinguished professional" (this is how the DOE described him) with decades of experience apparently decided that March 23, 2023 was the perfect day to back up his 30-year personal collection of explicit content onto a DOE computer. One can only imagine the IT department's reaction upon discovery. The employee remained blissfully unaware of his colossal mistake for six months until officials showed up for what must have been an extraordinarily awkward conversation.

PC Gamer has more details:

The man admitted breaching DOE rules but simply "did not think it was 'very wrong' to have adult images on an unclassified computer" and the DOE "was spying on him 'a little too much' given that the systems were unclassified." He also described the DOE software used to investigate the upload as "spyware" before going on to the Spanish Inquisition line.

In mitigation, the man outlined a history of depression, alongside both medical and psychiatric treatment. In 2017 he was diagnosed with "major depressive disorder, moderate, recurrent, in full remission for approximately one year" and "ADHD with problems in focus, attention, follow-through, procrastination, distractibility, and impulsivity.”

According to his appeal, which was helpfully made public thanks to DOE guidelines, the employee insisted he thought his personal drives were "partitioned" from the DOE network, keeping his extensive collection private. Spoiler alert: they weren't. He attributed the upload to experiments with AI-generated "robot pornography,” clarifying these were images of humans for AI training, not mechanical fantasies, while coping with depression.

Source: DOE

According to a filing, "The Individual was using his personal cellphone to view the generative images, but he wanted to view larger images, so he viewed the images using his government-issued computer," adding "He also reported that, since the 1990s, he had maintained a “giant compressed file with several directories of pornographic images,” which he moved to his personal cloud storage drive so he could use them to make generative images."

So this guy not only had a massive porn collection he'd been accumulating since the 1990s, he wanted to feed them into an AI to make more.

The judge in the appeal wasn't buying it, dryly noting: "The Individual's attempt to link his generative pornography to mental health is too attenuated." The ruling concluded the upload resulted from "a lack of knowledge" rather than malicious intent, which is probably the kindest possible interpretation.

Read the full report on the appeal here.

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Tyler Durden Wed, 10/15/2025 - 22:10

Has Trump 2.0's Eurasian Balancing Act Failed?

Authored by Andrew Korybko via Substack,

The global systemic transition to multipolarity is nowadays proceeding along a different trajectory than before due to recent shifts in the international system.

Up until this point, Trump 2.0 sought resource and military partnerships with Russia and India respectively that could decelerate China’s superpower rise, which would then make it the junior partner in any “G2”/“Chimerica” deal.

His Eurasian balancing act has failed, however, due to his arrogant and aggressive approach towards all three countries.

Ties with Russia took a hit after the Anchorage Summit following increasingly concerning reports about US plans to support NATO troops in Ukraine, thus spooking Putin into abandoning his country’s own Eurasian balancing act by pivoting to China.

This took the form of the legally binding deal that was just clinched for constructing the Power of Siberia 2 gas pipeline.

The US’ envisaged resource-centric partnership with Russia, which aimed to entice concessions on Ukraine, is now much less likely.

As for India, ties worsened during its springtime clashes with Pakistan, which saw Trump favor Pakistan and even lie about India agreeing to an alleged US-mediated ceasefire. The US then hypocritically imposed punitive tariffs on India over its continued trade with Russia despite eschewing such for China and others.

All the while, Trump viciously insulted India too. Concluding that he’s hellbent on derailing its rise as a Great Power, India swiftly patched up its problems with China and distanced itself from the US.

With Russia pivoting to China via Power of Siberia 2 amidst the Sino-Indo rapprochement, the resource and military means for decelerating China’s superpower rise through partnerships with them were neutralized, thus leading to any “G2”/“Chimerica” deal now being in China’s favor instead.

President Xi Jinping accordingly espoused stronger rhetoric about reshaping the world order during his speeches at the SCO Summit and V-J Day, which prompted Trump to accuse him of “conspiring” against the US.

The interim Sino-US trade deal is now in jeopardy after he just threatened the imposition of 100% tariffs on China by 1 November or earlier depending on when China imposes its export controls on rare earth minerals.

Coupled with his dramatic accusation that Xi is “conspiring” against the US in collusion with Putin and Kim Jong Un, this could presage future military-strategic tensions, even if only indirectly via proxy. That would further destabilize Eurasia per the US’ traditional divide-and-rule stratagem.

In clockwise order, these could take the form of:

• fomenting Color Revolution unrest in Mongolia in order to undermine Power of Siberia 2;

• Japan, Taiwan, and/or the Philippines provoking an incident with China at sea in contested waters;

• obstructing China’s access to rare earth minerals in Myanmar’s Kachin State;

• and/or sowing instability in Central Asia via NATO member Turkiye through the new TRIPP Corridor.

China’s response to these scenarios could be to arm Russia and even send troops to help it in Ukraine.

Xi saw how Trump mistreated his friend Modi despite him leading a state that could have joined the US’ anti-Chinese axis, while also watching how he’s betraying Putin in Ukraine after Anchorage, so he expects similar treatment if he agrees to a “G2”/ “Chimerica” deal.

He also knows that China now has a target on its back after the latest tariffs and Trump accusing him of a “conspiracy”. It’s therefore little wonder that Trump 2.0’s Eurasian balancing act, which was characterized by arrogance and aggression, has failed.

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

Tyler Durden Wed, 10/15/2025 - 21:45

Defending Against Strained Grids, Army To Power US Bases With Micro-Nuke Reactors

As soaring demand for electric power threatens to rapidly overtake America's supply, the US Army on Tuesday announced a plan to install nuclear microreactors at bases across the country. “What resilience means to us is that we have power, no matter what, 24-7,” said principal deputy assistant secretary of the Army Jeff Waksman after the program was unveiled at the Association of the United States Army (AUSA) Annual Meeting Warriors Corner panel. 

Pursuant to what has been christened the "Janus Program," the Pentagon is charged with bringing the first reactor online no later than September 30, 2028, and is currently identifying the first nine posts that will receive two reactors each. Those reactors will generate less than 20 megawatts of power, according to the Wall Street Journal. That's comparable to the demands of a single, small town. In addition to preserving the installations ability to function in the face of overwhelmed grids, the reactors will also serve as a safeguard against cyberattacks and weather catastrophes. The program is empowered by Executive Order 14299, “Deploying Advanced Nuclear Reactor Technologies for National Security,” which was signed by President Trump in May. 

A rendering of a Valar Atomics microreactor deployed to an oil field 

The microreactors will be owned and operated by private companies that will be selected in 2026; the budget has yet to be disclosed. “The race today is to actually develop the capability. We are all trying to figure out who can turn these things on,” Isaiah Taylor, chief executive and founder of microreactor startup Valar Atomics, told the Journal. The Janus Program comes after six years of Army work with startup companies to develop microreactors for service around the globe. The Air Force has its own parallel program, with eight companies pursuing contracts to power USAF installations. Microreactors are roughly the same size as a shipping container, and are meant to be easily transportable and rapidly brought online upon arrival. 

“Since the Manhattan Project, the Department of Energy and the Department of War have forged one of the defining partnerships in American history—advancing the science, engineering, and industrial capability that power our national security,” said Energy Secretary Chris Wright. “Under President Trump’s leadership, we’re extending that legacy through initiatives like the Janus Program, accelerating next-generation reactor deployment and strengthening the nuclear foundations of American energy and defense.”

A rendering of a portable, 1MW microreactor being developed by Radiant Nuclear

The microreactor programs are all well and good for the armed forces, but what about the rest of us whose futures are jeopardized by soaring demand for AI data centers paired with glacial-paced plans for new nuclear capacity? As we wrote on Friday: 

With nuclear power still years away, and with Goldman already warning of "price spikes and power blackouts", the federal government or power grid operators must figure out a cost-effective, scalable energy solution to ensure power prices don't continue spiraling out of control and proper grid stabilization occurs to ensure grid stability amid the AI arms race with China. 

On Tuesday, the Defense Production Act Consortium held its first meeting, as that organization seeks agreements with U.S. nuclear companies as part of an effort to rebuild the nation’s nuclear fuel supply chain. The DPA Consortium was created in accordance with President Trump’s Executive Order 14302, Reinvigorating the Nuclear Industrial Base, and will use the authorities of the Defense Production Act to coordinate industry efforts across the nuclear fuel cycle.

Tyler Durden Wed, 10/15/2025 - 21:20

Florence Chong of IPE Real reports BCI eyes ‘transaction-rich’ Europe for growth:

Canadian pension fund BCI aims to substantially increase the share of European assets in its infrastructure portfolio, as it continues to look abroad for expansion.

British Columbia Investment Management (BCI) is likely to increase its infrastructure investment in Europe by 50% over the next five years, in line with its broader strategy to grow its overall infrastructure portfolio by 60% by 2030.

BCI sees Europe as “a transaction-rich environment” with many nameplate infrastructure assets available for acquisition. It aims to increase the share of European assets to between 25% and 30% of its infrastructure portfolio – up from 21% today.

The firm set the stage for this European expansion with the opening of its London office in 2023. The office, which currently has 10 staff members, is expected to grow as BCI continues to build its investment footprint in the region.

BCI manages the investments of a number of public-sector pension and insurance funds in British Columbia. “As their long-term targets for the asset class continue to increase, we anticipate remaining a very active investor in the market,” says Jerry Divoky, senior managing director of infrastructure and renewable resources at BCI.

Divoky notes that, historically, BCI’s infrastructure programme has delivered strong returns with relatively low risk – it has been designed to deliver stable performance through different market cycles and events.

BCI’s C$32.2bn (€19.8bn) infrastructure portfolio has delivered an approximate 5% yield. “Half of our return over the last decade has effectively come from yield, and the other half from capital appreciation,” Divoky explains. “Significant capital comes back to us as yield, which we can then redeploy.”

The portfolio is primarily comprised of regulated utilities – including gas, power and water – which account for 40% of assets. Renewable resources such as timber and agriculture comprise 20%. Transportation and GDP-sensitive assets and renewable energy each account for 10%, digital/telecommunications 5%, and the balance is allocated to other assets.

At 5%, BCI’s exposure to digital infrastructure remains modest compared with some of its peers. Divoky says: “The anchor in our portfolio has always been core infrastructure – regulated utilities or highly contracted assets. Even though this space has become more competitive, we remain interested.”

Even so, BCI sees strong potential in digital infrastructure. “We remain focused on digital infrastructure opportunities, as many investors are. It is a sector with strong thematic tailwinds,” Divoky says. So far, BCI has mainly participated in digital through the debt markets. 

Opportunistic approach 

BCI has a wide investment scope and acquires assets opportunistically. In June, it bought a minority stake in Pinnacle Towers, the largest telecom tower platform in the Philippines, from KKR. The acquisition bolstered BCI’s existing telecom tower investment in Altius in partnership with Brookfield. “India is experiencing a tremendous expansion in data and telecommunications,” Divoky says.

Altius combines telecom tower and related infrastructure assets previously held by Summit Digitel, Crest Digitel, and American Tower Corporation’s Indian operations. The latter was acquired last September, giving the partners ownership of 257,000 telecom sites, making it the largest tower portfolio in India and the largest platform globally outside of China.

Divoky also highlights that a repricing in the renewable power sector is creating attractive new investment opportunities that are in focus in North America as well as Europe.

In June, BCI and Macquarie Asset Management acquired Renewi, a European industrial waste recycling business, in a deal valued at £707m (€816m).

“Waste is an area we’ve found quite attractive over the years,” Divoky says. “We just hadn’t found the right kind of business until now. Renewi focuses on commercial and industrial waste and holds a commanding position in Belgium and the Netherlands.”

BCI generally pursues a buy-and-hold strategy but will occasionally make strategic exits. One such divestment was its sale of US assets owned by Global Container Terminals (CGT). “We didn’t feel we could manage terminals on both coasts of the US effectively or generate significant synergies,” says Divoky. BCI, which co-owns GCT with IFM Investors and Ontario Teachers’ Pension Plan, is now focused on terminals in Vancouver.

Regarding trade tensions, Divoky remains unfazed: “So far, we’ve experienced strong trade volumes. Negotiations are ongoing and will eventually settle. If there is any shift in trade-related infrastructure, it will happen over decades.”

Already, 90% of BCI’s infrastructure assets are located outside of Canada. Given the limited size of the domestic market, Divoky expects international assets to remain the main driver of growth. 

Privatisation potential 

There is, however, a potential shift on the horizon. Under the Liberal government led by Mark Carney, Canada is exploring private capital participation in infrastructure to address budgetary challenges.

“But investable opportunities in Canada for large-scale brownfield operating infrastructure are relatively modest,” Divoky says. “We hope that changes going forward. Canada’s Federal Government and Provinces still own airports and most utilities. There’s tremendous potential for the government to privatise these assets, realise capital, and reinvest in greenfield projects that support GDP growth.”

Divoky adds that BCI has deployed capital effectively in the US over the years. “We’re still very interested in the US market, but with the current geopolitical climate, we’re being a bit more cautious,” he says.

“We’d also like to deploy more capital in Australia but, as with Canada, quality opportunities are scarce. Beyond that, India has tremendous promise,” he says. Significantly, it is another market where BCI has on-the-ground representation. So far, the Philippines is the other market where it has invested.

Approximately 10% of the firm’s infrastructure portfolio is in Latin America, but political instability has prompted BCI to exercise “caution” on new investments.

Asked whether global geopolitical tensions have impeded investment, Divoky says that the opposite is the case: “The uncertainty is creating pricing opportunities. Assets aren’t being priced for perfection. We’re mindful of geopolitics, political risks and the potential for populism when deploying capital.”

With a growing global pool of capital targeting infrastructure, Divoky acknowledges that competition is fierce. BCI seeks opportunities in both public and private markets.

“We’ve recognised over the years that competition for private assets has intensified. So we’ve enhanced our ability to find value in listed markets,” he says.

Most recently, BCI led the £1bn take-private of Luxembourg-based BBGI Global Infrastructure. “It’s the first major take-private transaction fully led by the BCI infrastructure team. It’s groundbreaking,” Divoky says.

“We felt BBGI would continue to diversify our global portfolio.” BBGI holds more than 50 infrastructure companies and projects across sectors and geographies.

BCI has previously taken over a public timber company, now part of its Mosaic timber business. Divoky believes BCI will continue to seek opportunities to privatise listed infrastructure companies when the timing and value are right.

Great interview with Jerry Divoky, senior managing director of infrastructure and renewable resources at BCI.

He will most likely become the next head of infrastructure and renewable resources at BCI when Lincoln Webb steps down or assumes another important role at the organization (he's a strong contender to succeed Gordon Fyfe as CEO but there are others).

BCI posted this article on its website with a lag as it was published September 25th and I'm glad they did so (take note rest of Maple 8). 

Jerry Divoky provides a lot of great insights on the portfolio composition and strategy.

You can read more about BCI's infrastructure & renewable resources portfolio here:  

BCI’s Infrastructure & Renewable Resources (I&RR) program is a diversified portfolio of $32.2 billion of tangible, real assets. Our global program invests primarily in core infrastructure assets that operate in stable regulatory environments and renewable resources assets that are critical to meeting the demands of a growing global population.

We target privately held assets with high barriers to entry, potential for strong cash flows, and favourable risk-return characteristics. Our focus on meaningful positions with governance rights allows us to actively manage the investments with a view to increasing their long-term value. The typical anticipated holding period spans over 20 years. We also invest in publicly listed infrastructure and private infrastructure debt to complement our current holdings and deliver additional value to clients.

And read fiscal 2025 highlights here.

What struck me from the interview is that BCI's digital infrastructure exposure is modest compared to peers but they remain on the lookout for opportunities there.

Interestingly, they're not competing with giants that have entered the space bidding on private assets, they're also very skilful at taking listed infrastructure companies private to use them as a platform (look at the take private deal on BBGI Global Infrastructure S.A.).  

Why do this? Why not? If there's value there, that's a smart move instead of bidding up prized assets that everyone is chasing.

Remember, just like in real estate and private equity, entry price matters a lot even if you're holding these assets for a long time.

What else? The portfolio is primarily comprised of regulated utilities – including gas, power and water – which account for 40% of assets.Yield plays an important role here just like a retail investor who invests in utilities to collect a nice yield and redeploys the dividend interest in other opportunities:

“Half of our return over the last decade has effectively come from yield, and the other half from capital appreciation,” Divoky explains. “Significant capital comes back to us as yield, which we can then redeploy.” 

In general, BCI holds these assets for years but sometimes makes strategic exits when the price is right and there are reasons to divest:

One such divestment was its sale of US assets owned by Global Container Terminals (CGT). “We didn’t feel we could manage terminals on both coasts of the US effectively or generate significant synergies,” says Divoky. BCI, which co-owns GCT with IFM Investors and Ontario Teachers’ Pension Plan, is now focused on terminals in Vancouver. 

As far as investable opportunities in Canada, they're hopeful but also explicit in what they're looking for:

“But investable opportunities in Canada for large-scale brownfield operating infrastructure are relatively modest,” Divoky says. “We hope that changes going forward. Canada’s Federal Government and Provinces still own airports and most utilities. There’s tremendous potential for the government to privatise these assets, realise capital, and reinvest in greenfield projects that support GDP growth.” 

I've been saying this forever, privatize airports, ports, toll roads, pipelines and other important infrastructure and get on with it fast because time is of the essence.

I agree with BCI's  European focus over the next five years, that's where the best opportunities lie.

Alright, let me stop there, you can read the latest news from BCI here. 

Below, Sikander Rashid, Brookfield's Global Head of AI Infrastructure, sat down with Bloomberg in Paris to discuss AI and the US market vs European market. 

Listen to his comments on why they remain bullish on Europe as it still "needs trillions of capital to upgrade existing infrastructure and build new infrastructure for AI."

States Go It Alone On 'Forever Chemicals' As EPA Delays Federal Action

Authored by Michael Clements via The Epoch Times (emphasis ours),

States are taking action to protect agriculture and waterways from harmful “forever chemicals” as they await federal regulations from the Environmental Protection Agency (EPA).

Samira Bouaou/The Epoch Times, Justin Sullivan/Getty Images, Matthieu Delaty/Hans Lucas/AFP via Getty Images, The Canadian Press/AP-Joshua A. Bickel

Critics say this has resulted in inconsistent and inadequate regulations exposing much of the country’s soil, air, and water to contamination by the chemicals.

According to the EPA, it is working through a very complex problem concerning a huge category of chemicals.

“The agency is committed to working closely with our partners to take a fresh look at the risks and the tools available to support our rural and agricultural communities on this issue,” the EPA told The Epoch Times in a statement.

At issue are perfluoroalkyl and polyfluoroalkyl substances (PFAS). PFAS are a group of more than 14,000 chemicals that have been used in stain- and water-repellent fabrics, nonstick cookware, food packaging, and firefighting foams since the 1940s because of their resistance to heat, oils, stains, grease, and water.

However, they do not degrade naturally and are almost impossible to destroy, earning them the “forever chemicals” appellation. According to the EPA, PFAS have been linked to cancer, reproductive issues, immune disorders, reduced vaccine response, hormonal issues, and weight gain.

In the early part of the 1970s, PFAS chemicals began to show up in soil to which biosolids had been applied.

Dredged as sludge from the bottom of wastewater treatment tanks and treated to reduce or eliminate harmful substances, biosolids have been sold or given to farmers as a low-cost fertilizer for more than 50 years.

A person fills up a glass of water water from a tap in San Anselmo, Calif., on July 6, 2023. The Environmental Council of States reports that 11 states—Maine, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Washington, and Wisconsin—have established drinking water standards.Justin Sullivan/Getty Images

An EPA draft assessment of two PFAS chemicals states that treated sewage sludge containing 1 part per billion of PFAS could pose a serious health risk.

An EPA statement reads, “The findings of the draft risk assessment underscore the importance of proactive federal and state policies to control and remove PFAS at their source.”

States face numerous challenges in dealing with PFAS, according to The Environmental Council of the States (ECOS), a national nonprofit association of state and territorial environmental agency leaders.

These challenges include inadequate funding, a lack of technical expertise, and dependence on EPA commitments that appear to have been put on hold.

ECOS’s mission is to help state agencies protect health and the environment, according to its website.

State biosolids regulations vary. In Maine and Connecticut they are banned, while Alabama allows almost unfettered use.

Maine has taken one of the most aggressive postures toward PFAS chemicals in biosolids. A spokesman for the Maine Department of Environmental Protection declined to comment and directed The Epoch Times to the department website.

Maine’s biosolids battle began in 2016 when PFAS were found at a dairy in Arundel, about 81 miles south of the state capital, Augusta. State investigators determined that cattle grazing on land treated with biosolids consumed grass that had absorbed the chemicals from the treated soil. This resulted in the cattle producing contaminated milk.

They also determined that the chemicals had spread far beyond the dairy.

In 2022, Maine implemented Public Law 2021, banning the land application of biosolids. The law also mandates testing of all wastewater treatment plant effluent, farmland, drinking water, and any products or environmental matter that could be contaminated.

The law provides state assistance with cleanup and remediation to owners of contaminated land. It provides bottled water or filtration systems for those whose water is contaminated.

A tractor spreads fertilizer on a field at a farm in Church Hill, Md., on March 20, 2025. Biosolids, or treated sewage sludge, are widely used in the United States as a soil amendment and fertilizer. But rural landowners and farmers are increasingly concerned about foul odors, soil contamination, health risks, and stormwater runoff carrying potentially dangerous chemicals into waterways. Jim Watson/AFP via Getty Images

Maine’s response to PFAS contamination in biosolids could be a model for other states, according to Mya Heard, a researcher in Northeastern University’s PFAS Project Lab.

Maine took a three-pronged approach of legislative, scientific, and public policy angles, Heard wrote in a Maine Policy Review article.

“Future case studies on state PFAS governance will offer comparative analyses and can strengthen the case for an interdisciplinary approach that leverages multiple scales of governance,” she wrote.

Although Maine and Connecticut ban biosolids, the treated sewage sludge is still commonly used on farm fields around the country.

The EPA reports that wastewater treatment plants produce an average of 3.76 million dry metric tons of biosolids each year. Approximately 56 percent of this is disposed of by land application.

According to a report from the National Biosolids Data Project, 53 percent of the biosolids produced in the United States are applied to almost 18 percent of all farmland. The bulk of that is used to grow livestock feed.

Similar numbers are reflected in Alabama. In response to health concerns, nuisance odor complaints, and complaints about biosolids imported from other states, the Alabama Department of Environmental Management set new biosolids regulations in 2020.

The new rules established nutrient management planning and property line setback requirements for land application of biosolids. The rules are meant to reduce odors, protect the environment, and address complaints from neighbors.

Regina Allcorn lives on a 68-acre property in Etowah County, Alabama. The centerpiece of her family’s land is a lake.

Allcorn said her family cannot eat fish from the lake because they are contaminated with PFAS from neighboring land treated with biosolids.

She said she believes that biosolids distributors force landowners who do not use the sludge to live with contaminated water, foul odors, health problems, and an uncertain future.

Regina Allcorn, whose family owns farm land with a 68-acre lake, in Etowah County, Ala., on May 14, 2025. Alcorn and others are concerned that fish in the lake may be contaminated by chemicals found in treated sewage sludge used as fertilizer on neighboring land. Samira Bouaou/The Epoch Times

“It’s your home and you shouldn’t feel that way,” she told The Epoch Times.

Alabama Department of Environmental Management spokesperson Lynn Battle declined an interview request but stated in an email to The Epoch Times that Alabama regulations are based on the most current science.

“As appropriate and based on new or revised EPA regulations and requirements regarding activities that impact our air, water, or land resources, [Alabama Department of Environmental Management] has and will continue to implement measures to ensure its programs address the issues as noted in any Federal regulation,” Battle wrote.

In a white paper titled “Processes & Considerations for Setting State PFAS Standards,” ECOS presented information from survey responses it had received from 43 states.

According to the ECOS, Alabama is one of 14 states that has no enforceable guidelines, although the state tests for PFAS and publishes its data. The other states are Arizona, Arkansas, Idaho, Kansas, Missouri, Nebraska, North Dakota, Oklahoma, South Carolina, Tennessee, Utah, Virginia, and Wyoming.

ECOS stated that in April 2024, the EPA set enforceable drinking water standards for only five of the more than 14,000 known PFAS chemicals.

“At this time, the U.S. has no federally enforceable PFAS standards for other PFAS or for these PFAS in other environmental media, leaving individual states to navigate various avenues for addressing contamination,” the paper states.

“Some states have established legally enforceable values for certain PFAS in drinking water, groundwater, surface water, soil, or air. Other states and regulatory agencies have opted for non-enforceable values.”

According to ECOS, most state activity focuses on drinking water. Some states also test wastewater treatment plant influent and effluent and compare those data sets with EPA guidelines.

Some states have laws prohibiting them from setting regulations more stringent than those set by the EPA. These states, including Alabama, are waiting to use the expected EPA standard as a guide.

Read the rest here...

Tyler Durden Wed, 10/15/2025 - 20:55

Raising Potassium Levels Protects Heart Patients

Authored by George Citroner via The Epoch Times (emphasis ours),

A simple dietary adjustment could be a game-changer for heart patients. Increasing potassium levels cuts the risk of dangerous heart rhythms by nearly a quarter, according to new research.

Illustration by The Epoch Times, Shutterstock

Participants in the treatment group had their potassium levels raised to 4.5 to 5.0  millimoles per liter (mmol/L) through diet, supplements, and/or medication.

The treatment was conducted in patients who had an implantable cardioverter-defibrillator (ICD), which is a surgically implanted device larger than a pacemaker, a more common implantable device.

A pacemaker is a small, surgically implanted device that helps regulate a slow or irregular heartbeat by sending electrical impulses to maintain a steady rhythm. An ICD, on the other hand, monitors the heart and delivers an electrical shock to correct dangerously fast heart rhythms, which can prevent sudden cardiac arrest.

Over an average follow-up of 3.3 years, patients who maintained higher potassium levels experienced significantly better outcomes, according to the results recently published in the New England Journal of Medicine.

The main goal was to see if the approach could reduce episodes of dangerous heart rhythms, hospitalizations, or death.

Key Study Findings

The study focused on patients with implanted ICDs. Patients started the trial with normal and low baseline levels of potassium at 4.3 mmol/L or lower.

The patients then raised their potassium levels either through diet, supplementation, or medication. Raising and maintaining a high-normal potassium level of 4 to 5 mmol/L had a 24 percent reduction in risk of serious heart rhythm problems.Potassium is needed to create heartbeats, therefore low potassium levels can lead to irregular heartbeats.

A major outcome was that there were fewer emergency interventions from implanted defibrillators—15.3 percent in the higher-than-normal potassium group versus 20.3 percent in the control group.

Hospitalizations for arrhythmias and heart failure were also less common among those with higher potassium levels.

Regarding safety, hospitalizations due to very high or very low potassium levels occurred in 1 percent of both groups, and deaths were reported in 5.7 percent of the high-normal group compared to 6.8 percent in the controls, a difference that the researchers didn’t consider statistically significant.

Dr. Carolyn Lam, a cardiologist and senior consultant at the National Heart Centre Singapore, who pioneered the first Women’s Heart Clinic in Singapore, and was not involved in the trial, told The Epoch Times that the findings apply specifically to patients who have implanted defibrillators, are at high risk of ventricular arrhythmias, and have a starting potassium that is not higher than 4.3 mmol/L.

Lam said that potassium levels have a “U-shape relationship” with health outcomes, meaning that both high and low levels can lead to adverse events.

“Thus, it is important that patients know their potassium levels before simply applying these results to themselves,” she said.

What The Findings Mean for Patients

Although the study was conducted only in patients who already had an ICD, Professor Henning Bundgaard, senior author of the study, said in a statement that the findings may be applicable to many patients, especially those who have cardiovascular disease associated with a high risk of ventricular arrhythmia.

Dr. Ian J. Neeland, an associate professor of medicine at Case Western Reserve University and director of University Hospitals Center for Cardiovascular Prevention, who was not involved in the trial, said that patients should discuss strategies with their doctor to keep potassium levels in the high-normal range. Patients should be sure to take drugs that help the body hold onto potassium, he said, which includes Spironolactone and eplerenone, according to current guidelines for patients with implanted cardiac devices.

Some foods that increase potassium include bananas, raisins, prunes, broccoli, potatoes, and tuna.

Neeland added that patients should also alert their doctor if they develop any conditions that could acutely lower their potassium levels, such as diarrhea or vomiting.

“They should work with their doctor to find the best strategies to keep potassium in the high-normal range,” he said.

*  *  *

Nope, we don't sell potassium (yet). We do have D2/K3 which some of you mentioned in the comments.  

Tyler Durden Wed, 10/15/2025 - 20:05

A $300 Trillion Dollar Fat Finger?

Blockchain data showed stablecoin issuer Paxos both minted and burned 300 trillion tokens of the PayPal USD stablecoin within 30 minutes, leaving many crypto users scratching their heads.

This prompted much amusement and confusion across social media...

cc: @federalreserve

That should fix the funding shortage https://t.co/sKhLJj8NfF

— zerohedge (@zerohedge) October 15, 2025

But, as CoinTelegraph's Turner Wright explains, it appears to have been a big fat finger... 

In a Wednesday X post following the mint and burn, Chaos Labs founder Omer Goldberg said Aave would be temporarily freezing trades for PayPal USD  after an “unexpected high-magnitude transaction” of minting and burning the stablecoin.

Ethereum blockchain data showed Paxos minting 300 trillion of the US dollar-pegged stablecoin at 7:12 pm UTC and then burning the entire amount 22 minutes later by sending it to an inaccessible wallet.

PYUSD, pegged 1:1 to the US dollar, makes the supply of the burned coins worth about $300 trillion.

The stablecoin has a market capitalization of more than $2.3 billion at this writing, making it the sixth-largest coin behind Tether’s USDt, USDC, Ethena USDe, Dai and World Liberty Financial USD (USD1).

a test for the real thing when the time comes https://t.co/bnGazjdwpc

— zerohedge (@zerohedge) October 15, 2025

In a Wednesday X follow-up post, Paxos said it had “mistakenly minted excess PYUSD as part of an internal transfer.”

“This was an internal technical error,” said Paxos.

“There is no security breach. Customer funds are safe. We have addressed the root cause.”

PYUSD maintained its dollar peg following the news, but its price briefly dropped by about 0.5%, according to data from Nansen.

PYUSD price immediately after the mint and burn. Source: Nansen

$300 trillion is more than twice the Gross Domestic Product for every country on earth, according to data from the International Monetary Fund.

Biggest burns in crypto history

Some of the most significant token burns include cryptocurrency exchange OKX sending more than 65 million OKB to an inaccessible address in August in an effort to keep the supply at 21 million.

The project behind the Bonk memecoin burned about 1.7 trillion BONK in December 2024, but the coins were only worth about $50 million at the time.

*  *  *

Finally, we had one quick question...

Hey guys, so - uh - what exactly was this $300 trillion in "stablecoin" colaterlized by when it was minted, mistakenly or otherwise https://t.co/p0Q2iC83Vz

— zerohedge (@zerohedge) October 15, 2025

...asking for a friend.

Tyler Durden Wed, 10/15/2025 - 18:25

Tesla Reportedly Places Large Humanoid Parts Order As Goldman Outlines Profit Implications

There's no exact release date for Tesla's Optimus robot, but mass production could begin as early as 2026, according to a new report from Sina News. Media outlets in China reported that Tesla has placed a $685 million order for linear actuators from Sanhua Intelligent Controls, with deliveries expected to start early next year. Elon Musk has said he plans to have millions of these robots operating in Tesla factories by the end of the decade. 

The report reinforces what we've known all along: Musk's Tesla remains years ahead of both EV rivals, legacy automakers, and robotics firms. As Goldman analysts highlight in a note on Tuesday, the next profit frontier for the auto industry lies in humanoid robotics - and Tesla is already leading that race. 

Tried to start a fight at the Tron: Ares premiere pic.twitter.com/TvWCOaXIlN

— Tesla Optimus (@Tesla_Optimus) October 7, 2025

Analysts led by Mark Delaney predicted that humanoid robot production will be a powerful new profit growth engine for autos, both as a product line and as a means to reduce labor costs. This is especially relevant for Tesla, whose Optimus robot is being developed for factory floors and the consumer market. 

Last month, Elon Musk suggested that humanoids could represent up to 80% of Tesla's future value.

Poptimus pic.twitter.com/pu8MxEoDJz

— Tesla Optimus (@Tesla_Optimus) September 6, 2025

"There is the potential over time for humanoid robots to drive incremental profitability for autos and industrial tech companies, both as a new product to sell and as a contributor of lower costs," Delaney wrote in a note. "This is particularly relevant for Tesla, which is developing the Optimus robot for both internal use and to sell to external customers."

The analysts noted that Tesla will benefit on two fronts: deploying Optimus internally for labor savings and selling externally with a cost edge from its EV-derived expertise in power electronics, AI navigation, and manufacturing scale:

• 2030E EPS impact: +$0.10 – $3.00 (50 K–1.5 M units, $40–60 K ASP, 10–15% EBIT margin + subscription income).

• 2035E EPS impact: +$0.20 – $13.00 (100 K–5 M units, 10–20% EBIT margin + services).

Production ecosystems are mostly the same. 

The delivery of actuators for Tesla's humanoid robots early next year suggests not only that production will ramp up in 2026 but also that America's love affair with automation is accelerating. The downside, of course, is mass job displacement. With AI accelerating across industries, one has to question what "labor shortage" the Biden-Harris regime was addressing when it facilitated an illegal alien invasion of 10-15 million third-worlders, many untrained for the digital economy. These are precisely the jobs that AI/robots are poised to eliminate. So was mass immigration really about filling jobs, or about political control in future elections? Short answer: Political control. 

Related:

• Goldman Finds "Inflection Point" With Humanoid Robots; We Tested Unitree's Robodog

• Goldman's Chat With Top Robotics Firm Reveals Skynet Humanoid Timeline

• Goldman's Investing Guide To Skynet

• "Here Come Humanoids": Morgan Stanley Braces For The Looming Phase Shift in AI

• There's An iPhone Moment Happening With Humanoids

ZeroHedge Pro Subs can read the full report in the usual place; it includes plenty of charts and in-depth analysis on other robotics companies.

Tyler Durden Wed, 10/15/2025 - 18:00

NRA, Gun Owners of America Vow To Sue California For Passing Glock Gun Ban

Authored by Jill McLaughlin via The Epoch Times (emphasis ours),

The National Rifle Association (NRA) vowed to sue California after Gov. Gavin Newsom signed into law on Oct. 10 a ban on the sale of one of the most popular gun brands in the state.

Luke Saiz of Albuquerque, N.M., holsters a Glock 9mm handgun at a local gun shop on Sept. 12, 2023. Allan Stein/The Epoch Times

California’s Assembly Bill 1127 doesn’t name Glock Inc. in the legislation but directly applies to the company’s firearms by prohibiting the sale of semi-automatic handguns that can be easily converted to fully automatic. That ban covers models, such as Glocks, that use a cruciform trigger bar.

The ban, which will go into effect on July 1, 2026, applies to several pistols but will have an outsized effect on Glocks.

John Commerford, NRA-Institute for Legislative Action (ILA) executive director, stated the gun-rights group would file litigation against Newsom’s decision, calling it a violation of civil rights.

“Our message to Governor Newsom is simple: we will see you in court,“ Commerford said in a statement, ”Gavin Newsom and his gang of progressive politicians in California are continuing their crusade against constitutional rights. Once again, they are attempting to violate landmark Supreme Court decisions and disarm law-abiding citizens by banning some of the most commonly owned handguns in America. This flagrant violation of rights cannot, and will not, go unchecked.”

Former Vice President Kamala Harris, a California resident and former attorney general of the state, was the most recent high-profile person to admit to owning a Glock when she revealed the information in October 2024 while running for president.

“I have a Glock and I’ve had it for quite some time. My background is in law enforcement, so there you go,” Harris said during an interview, adding she had fired it at a shooting range.

The Gun Owners of California organization, a statewide Second Amendment-rights group, also promised litigation over the law.

“Gavin Newsom just signed AB 1127, banning the most popular handgun in America, and the same one Kamala Harris bragged about carrying. You couldn’t make this hypocrisy up if you tried. Lawsuit time, again,” the group wrote on Facebook hours after Newsom signed the measure.

The law, authored by Assemblymembers Jesse Gabriel and Catherine Stefani, both Democrats, allows the state to fine anyone selling, transferring, delivering, or offering the firearms up to $1,000 for a first offense and up to $5,000 and suspension or revocation of a dealer’s license for a second offense. It also allows for a dealer to be cited with a misdemeanor and mandatory revocation for a third offense.

The bill does not apply to police, sheriffs’ departments, marshals’ offices, district attorneys, highway patrol, justice or corrections departments, or military or naval forces in the state.

California Gov. Gavin Newsom speaks in Los Angeles on Sep. 25, 2024. John Fredricks/The Epoch Times

“The increased prevalence of automatic weapons across the nation is deeply concerning,” the bill’s authors stated in a legislative analysis.

The new law will seek to protect communities from mass shootings and gun violence by preventing the easy conversions, they stated.

Vet Voice Foundation, which supported the bill, said that what it regards as do-it-yourself machine guns are a growing threat to public safety.

“Fully automatic machine guns have been illegal under federal and state law for decades, but they can be made at home by attaching a tiny piece of plastic commonly known as a ‘Glock switch’ to a convertible pistol,” the group stated in the legislative analysis. “Glock has known about this problem for years, but has not taken responsibility for its easily convertible products and instead has refused to take serious action to fix its design.”

The California chapters of Moms Demand Action and Students Demand Action, both members of Everytown for Gun Safety, applauded Newsom’s decision to sign the bill, saying he and lawmakers are putting the safety of California communities above gun industry profits.

“For decades, reckless gun makers have profited off our tragedies. Today, California forces these gun makers to decide: fix your pistols or don’t sell in this state,” the group stated in a social media post.

Tyler Durden Wed, 10/15/2025 - 17:40

I just learned that “How Not to Invst” was named one of the best investment books of 2025 by Stock Traders Almanac.

Here is an excerpt (full list below)

 

BEST INVESTMENT BOOKS OF THE YEAR

Stock Trader’s Almanac 2026

Back by popular demand. After a five-year hiatus and countless requests from readers we present our picks for the Best Investment Books of the Year. This collection represents a broad range of approaches and asset classes. It also runs the gamut from sophisticated institutional level works and technical analysis trading manuals to books geared toward the retail investor. We hope you find these entertaining and beneficial.

#1: “How Not to Invest: The ideas, numbers, and behaviors that destroy wealth – and how to avoid them,” Barry Ritholtz, Harriman House, $32.99.

Ritholtz has done it again. Over the past decade, Barry has built one of the fastest-growing RIAs in America. The OG financial blogger and self-proclaimed Director of Cognitive Dissonance shares the master plan he used to grow and manage his firm and his clients’ assets. Irreverent, counterintuitive, insightful, engaging. Ritholtz illustrates how to avoid unforced errors, recognize fallacious data, and break bad habits that undermine investment success. The book lays out how to get rich in the markets through a simple, disciplined plan by focusing on what you can control that matters and how stick to it.

 

How delightful! I couldn’t be more pleased by this lovely recognition. I have been a fan of STA and its creator, Yale Hirsch, for a long time. I know Jeff Hirsch just as long, who took over the Almanac when his dad turned 90, and has taken it to even better places. (But at this moment, I lack any and all objectivity…)

Full disclosure: My first book, “Bailout Nation” was published by Wiley; they are also the publisher of Stock Trader’s Almanac.

The latest Stock Traders Almanac 2026 is now available at your favorite bookseller, or directly with a STA subscription.

Full list of books after the jump…

~~~

 

 

 

 

 

The post 2025 Best Investment Books of the Year: Stock Traders Almanac appeared first on The Big Picture.

Trump Warns If Hamas Doesn't Disarm, 'We Will Disarm Them, Maybe Violently'

With the Israeli hostages now released and hundreds of Palestinian prisoners being returned from Israeli prisons, officials look to the next phases of the Trump-brokered peace deal, which the consensus is will be the hardest. It involves the disarming of Hamas and establishing future governance of the Gaza Strip.

On Tuesday, President Trump made clear that Hamas would be required to disarm under the deal, warning that if the group refused to do so voluntarily, the US would intervene, possibly through force - though in characteristic fashion his comments were left ambiguous, and reporters were left wanting to know more.

"If they don’t disarm, we will disarm them, and it will happen quickly and maybe violently," he told reporters, emphasizing that Hamas would have no choice. When pressed on how he intended to carry out such action, Trump declined to provide details, saying, "I don’t have to explain that to you… They know I’m not playing games."

AFP/Getty Images

The Pentagon has already deployed up to 200 troops to Israel where they are assisting in terms of operational oversight of the ceasefire. Trump's words hint that it could be a short step to take some of these troops are embed them in Gaza, to assist the IDF in finally disarming Hamas.

Hamas has already reasserted control over areas previously vacated by Israeli forces and has gone on an execution campaign against alleged collaborators and criminals. Dozens have been reported killed in the last couple days.

President Trump noted that Israel had armed certain gangs and militias as part of its anti-Hamas strategy. "They took out some very bad gangs - really bad people - and that doesn’t bother me," Trump said, appearing to offer some rare positive commentary on Hamas. "That’s fine. Those were very bad gangs."

A day earlier, he said Hamas had received "approval" for such operations, adding that with nearly two million people returning to devastated neighborhoods, instability was a major concern. "We want it to be safe. I think it’s going to be fine. Who knows for sure," said Trump.

Hamas has been rounding up rival armed groups which sought to undermine the group's power...

Hamas carries out public executions just hours after signing peace treaty with Israel https://t.co/wxZSLgmm97 pic.twitter.com/XFM6LvSfsN

— New York Post (@nypost) October 14, 2025

Meanwhile, the future of the deal still has a high degree of uncertainty, given Hamas leaders have reiterated that their armed wing, the al-Qassam Brigades, will not surrender its weapons until an independent Palestinian state is established. However, this is a goal which the Netanyahu government has clearly rejected.

Hamas and Israel could yet further clash given the IDF has been ordered to destroy the miles and miles of tunnels which exist under Gaza, and which have formed key infrastructure for Hamas command bunkers and their foot soldiers' movements.

Tyler Durden Wed, 10/15/2025 - 17:20

La Niña Is Here - Here's What It Could Mean For Winter In US

Authored by T.J.Muscaro via The Epoch Times,

A La Niña advisory has officially been issued by the Climate Prediction Center, signaling a possible precedent for winter across the United States.

Conditions emerged at the end of September and were favored to persist through December 2025 into February 2026.

The opposite of the weather phenomenon called El Niño, La Niña refers to when the water temperatures of the central and eastern Pacific Ocean around the equator are cooler than average. That cooling can impact global weather patterns thousands of miles away.

While it is expected to remain relatively weak, this year it is expected to have an effect on winters in the United States, especially regarding this year’s snowfall.

Here’s what La Niña conditions could look like for the United States this year.

North-South Divide

One of the most noticeable effects that La Niña could have on the United States is a moisture divide between the northern and southern states of the Lower 48.

To the north, colder and wetter conditions are generally expected, while the southern states are expected to experience a warmer and drier winter.

The National Oceanic and Atmospheric Administration’s (NOAA) seasonal outlook showed most of the United States was predicted to face above-average or near-above-average temperatures through October, November, and December. An area of the southern Rocky Mountains, particularly New Mexico, and most of New England are expected to experience relatively warmer temperatures.

The northwest, meanwhile, was predicted to have near-average temperatures.

NOAA noted that those temperature changes have already begun to show up.

“From mid-August to mid-September, below-average heights and temperatures were evident over the eastern U.S. Starting in mid-September, above-average heights and temperatures dominated the eastern U.S.,” NOAA reported on Oct. 14. ”From early September to mid-October, below-average heights and temperatures prevailed over the eastern North Pacific Ocean and parts of the western U.S.”

Rain and Snowfall

La Niña is also expected to bring changes to precipitation across the country, particularly snowfall. Much of the northwest from the Cascades in Washington State across the upper Midwest through New England will tend to see an increase in snowfall.

NOAA’s seasonal outlook indicated that much of Washington, Oregon, Montana, and Idaho are expected to see above-average levels of precipitation, while states in the southern Rockies, like New Mexico and Colorado, are expected to see below-average precipitation.

Several areas of the Rocky Mountains, including the Salt Lake City Area, have already reported significant amounts of early snowfall, and more is reported to be on the way.

The Weather Prediction Center reported heavy snow was to develop over the Sierra Nevada Mountains on Oct. 14 and Oct. 15.

However, that snow is coming in as part of a low-pressure system coming off the ocean and into California. The Weather Prediction Center issued a slight risk of excessive rainfall over parts of Southern California, noting that urban areas, roads, small streams, and low-lying areas could be vulnerable to flash flooding. Additional showers and thunderstorms were also expected to hit parts of the Southern Rockies also bringing heavy rain and risks of flash flooding.

During La Niña, the Southern Rockies historically tend to get below-average amounts of snowfall, as well as parts of the Ohio Valley.

That being said, Michelle L’Hereux, lead scientist of NOAA’s team responsible for studying La Niña and El Niño, said that, based on multi-factor computer models from NOAA and Columbia University, this La Niña impact is not likely to be very strong at all, suggesting temperatures and precipitation levels should remain closer to average.

“There is a three-out-of-four chance it will remain a weak event,” L'Heureux said in an email. “A weaker event tends to exert less of an influence on the global circulation, so it’s possible there will be surprises ahead.”

The Climate Prediction Center publishes monthly statements on the status of La Niña. The next one will be posted around Nov. 13.

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Tyler Durden Wed, 10/15/2025 - 17:00