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Uncertainty on Tariffs by the President May have Caused a Delay of a Fed Rate decrease

Angry Bear -

It is almost laughable. TR__p’s wishy-washy back and forth on tariffs may have have caused the Fed Chair to delay a decrease. It sure sounds or reads like it. Federal Reserve Chair Jerome Powell told lawmakers this last Tuesday, the recent economic data would have likely justified continuing to lower the Fed rates if not for concerns […]

The post Uncertainty on Tariffs by the President May have Caused a Delay of a Fed Rate decrease appeared first on Angry Bear.

Six Million Student Loan Borrowers On Track To Have Wages Garnished

Zero Hedge -

Six Million Student Loan Borrowers On Track To Have Wages Garnished

Authored by Mike Shedlock via MishTalk.com,

It’s 2 million now with another 4 million projected. And jobs are harder to find.

Student-Loan Borrowers Are at Risk of Docked Pay This Summer

The Wall Street Journal reports Nearly Two Million Student-Loan Borrowers Are at Risk of Docked Pay This Summer

Roughly six million federal student-loan borrowers are 90 days or more past due after a pandemic-era reprieve ended, according to TransUnion. The credit-reporting company estimates that about a third of them, or nearly two million borrowers, could move into default in July and start having their pay docked by the government. That’s up from the 1.2 million that TransUnion had estimated in early May.

An additional one million borrowers are on track to default by August, followed by another two million in September. Borrowers fall into default when they are 270 days past due.

Wage garnishment is also set to restart this summer. Until past due payments are paid in full or the default status is resolved, borrowers could see up to 15% of their wages automatically deducted from their paychecks.

Borrowers who have been newly reported as delinquent since then on their student loans have seen an average 60-point drop in their credit scores, according to TransUnion. Nine percent of borrowers who fell into delinquency were current on their payments by April, according to TransUnion.  

The Education Department has been urging borrowers to resume payments and emphasizing the consequences. Roughly 43 million borrowers owe more than $1.6 trillion in student-loan debt. 

More than nine million of them are expected to see their credit scores drop this year, according to data from the New York Fed released in March. 

This is no small deal. Millions of zoomers and millennials are spending every penny right now and struggling.

Now come wage garnishment up to 15 percent.

And those graduating now are struggling with a much tougher job market.

Gen Z College Grads Hit the Job Market at the Worst Possible Time

Business Insider reports Gen Z College Grads Hit the Job Market at the Worst Possible Time

Zoomers are staring down a tough hiring market: Economic uncertainty has contributed to employees’ wariness to quit and companies’ hesitancy to hire. Artificial intelligence is disrupting the entry-level rung of the career ladder in industries like tech. Recent graduates have told Business Insider that they’re frustrated by hundreds of rejected applications and being ghosted by prospective employers. Some are settling for whatever work they can find.

It’s long been typical for 20-somethings to have a higher unemployment rate than the general population, and the overall US unemployment rate is still relatively low. One relatively new development, however, is that young people with college degrees are being hit hard by the economic slowdown — especially if they’re hoping to land a role in traditionally white-collar fields. Many Gen Zers are losing faith in the ROI of higher education and are turning toward blue-collar opportunities.

The unemployment rate for recent college graduates ages 22 to 27 has soared compared to unemployment for all workers ages 16 to 65 in recent years. This is a new trend: young people with degrees have historically almost always been more likely to be employed than the rest of the labor force.

The unemployment rate gap between the total workforce and recent grads was historically wide this spring, meaning that the job market for 20-somethings with degrees is among the worst the cohort has seen in at least four decades. Those who studied anthropology, physics, or computer engineering had the highest unemployment rates in 2023, per the Federal Reserve Bank of New York’s analysis of Census Bureau data.

The pool of jobs available for Gen Z — and the workforce as a whole — to apply for has shrunk. Job openings have cooled from 12 million in March 2022 to 7 million this past April. In what’s been dubbed the Big Stay, current employees are holding on to their seats as well, with the monthly quit rate falling from 3% in March 2022 to 2% this past April.

Small and midsize businesses aren’t hiring as many recent grads

Gusto, a payroll and benefits platform for small- and medium-sized businesses, found the rate of primarily white-collar hires aged 20 to 24 at small and midsize employers has fallen from pre-pandemic levels, declining from 9.4% in May 2019 to 2.7% this past March.

Even if new graduates have a job, they may be working in a role that doesn’t typically require a college degree. While this figure fluctuates over time, the share of 20-somethings who have jobs they’re overeducated for is rising in 2025. It coincides with the generation’s pivot toward skilled-trades roles such as electricians or plumbers.

Fed Chair Jerome Powell says the labor market is healthy.

I disagree.

Tyler Durden Fri, 06/27/2025 - 07:20

Priority Open Recommendations: Department of Transportation

GAO -

What GAO Found In June 2024, GAO identified 20 priority recommendations for the Department of Transportation (DOT). Since then, DOT has implemented four of those recommendations, including taking actions to improve vehicle and pedestrian safety. In addition, GAO removed the priority status from one recommendation related to DOT oversight of the air ambulance industry due to actions taken by Congress to enhance the information DOT has to conduct oversight. In June 2025, GAO identified six new priority recommendations for DOT, bringing the total number to 21. These recommendations involve managing cybersecurity risks and information technology, improving transparency and communication, developing plans to address safety risks, and reducing fraud and abuse risks. DOT's continued attention to these issues could lead to significant improvements in government operations. Why GAO Did This Study Priority open recommendations are the GAO recommendations that warrant priority attention from heads of key departments or agencies because their implementation could save large amounts of money; improve congressional and/or executive branch decision-making on major issues; eliminate mismanagement, fraud, and abuse; or ensure that programs comply with laws and funds are legally spent, among other benefits. Since 2015, GAO has sent letters to selected agencies to highlight the importance of implementing such recommendations. For more information, contact Heather Krause at KrauseH@gao.gov.

Categories -

Should Student Loans Be Forgiven?

Angry Bear -

As of May 24, 2024, the SBA had forgiven over 10.5 million PPP loans to businesses, totaling ~$800 billion. Another 37,938 owe an ~ $4.6 billion) and are labeled potential clawback or a code 70 (potential claw back).  Not so for student loans. These are the people who should have greater productivity at a younger […]

The post Should Student Loans Be Forgiven? appeared first on Angry Bear.

10 Friday AM Reads

The Big Picture -

My end-of-week morning train WFH reads:

The Business of Betting on Catastrophe: World Bank pandemic bonds paid out only after death tolls passed a threshold. They’re part of a booming market where investors turn calamity into capital. (MIT Press Reader)

EU Considers Lowering Tariffs on U.S. Imports in Effort to Woo Trump: European leaders to debate what they could give up to secure speedy trade deal. (Wall Street Journalbut see also Tracking Every Trump Tariff and Its Economic Effect.  Here’s a compilation of measures both implemented and planned, accompanied by a Bloomberg Economics view on the effect. (Bloomberg)

Lessons on Money & Life I Learned From Warren Buffett. The 94-year-old “Oracle of Omaha” announced at his last shareholder’s meeting that he’s stepping down as CEO of Berkshire Hathaway at the end of this year. Though I never met him, he has taught me a lot about money — and life. Here are some brilliantly simple lessons for us all that I learned from Warren Buffett. (Advisor Perspectives)

Happy Birthday, Money. This currency proved to be both a blessing and a curse for the war effort. It’s not mere history: Both the successes and the failures offer crucial lessons about how monetary and fiscal decisions affect the economy, and how they shape the credibility of the nation as a whole. Those lessons have resonated through all the intervening years of independence, expansion, conflict, depression, war, reinvention and more. Today the prospects for our currency are starting to turn ominous again. (New York Times)

Don’t Be Fooled by Treasury Yields: Adjusting appropriately for inflation is key to understanding the expected payoff from government securities versus stocks. (Bloomberg)

The Computer-Science Bubble Is Bursting: Artificial intelligence is ideally suited to replacing the very type of person who built it. (The Atlantic)

Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? He’s a sports mogul, small-business influencer, media personality, health-care disruptor—and the ultimate Trump foil. (Businessweek)

When Does Consciousness Emerge in Babies? Answering the question of when consciousness emerges is deeply tied to the mystery of what it actually is and how it can be measured. (Scientific American)

When Iran’s supreme leader emerges from hiding he will find a very different nation: After spending nearly two weeks in a secret bunker somewhere in Iran during his country’s war with Israel, the supreme leader, Ayatollah Ali Khamenei, 86, might want to use the opportunity of the ceasefire to venture out. (BBC)

This songwriter shaped today’s country music. You’ve never heard of him. Ashley Gorley spent years trying to crack the code behind a hit song. It paid off. We asked him for the stories behind some of his record-breaking 83 No. 1 songs. (Washington Post)

Be sure to check out our Masters in Business this week Velina Peneva, Group Chief Investment Officer, Swiss Re: Previously, she was PE practice leader in Zurich ay Bain & Company.

 

Due to historical and geographical reasons, European countries tend to spread their populations across many medium and smaller cities rather than concentrating everyone in a few megacities

Source: @simongerman600

 

Sign up for our reads-only mailing list here.

 

The post 10 Friday AM Reads appeared first on The Big Picture.

What Types Of Jobs Will Survive The AI Revolution?

Zero Hedge -

What Types Of Jobs Will Survive The AI Revolution?

Authroed by Javier Simon via The Epoch Times (emphasis ours),

As artificial intelligence (AI) spreads its tentacles into industries throughout the globe, many wonder whether their jobs are on the chopping block. And it’s not surprising.

A photographer takes a picture of AI robots at an AI summit in Geneva, Switzerland, on July 7, 2023. Fabrice Coffrini/AFP via Getty Images

Today, it seems like you can do anything with AI. And the world’s biggest companies are pumping billions into this emerging technology.

But despite its rapid development, AI has struggled to replicate interpersonal communication, creativity, and critical thinking. And jobs that require these skills are considered by experts to be less likely to be overtaken by AI.

“While AI can be proficient at handling logical and repetitive tasks, it cannot match the creativity and emotional intelligence inherent in humans,” Smart Forum, a digital services provider for businesses, stated in a blog post. “AI cannot replace jobs that require human intuition, empathy, ethical judgment, emotional depth and physical presence.”

So let’s take a look at some of the fields that could stand strong in the face of the AI job-eating machine.

Health Care Professionals

While AI can contribute to diagnosis and treatment, it simply can’t replace the human touch offered by experienced doctors, nurses, therapists, and psychologists.

In fact, employment of registered nurses alone is expected to grow 6 percent from 2023 to 2033, or faster than the average for all occupations, according to data from the Bureau of Labor Statistics (BLS).

In addition, the BLS expects demand for health care professionals to grow because of an increase in the number of older citizens who tend to require more health care.

Overall, the future seems bright for the health care field—and even AI may not be able to keep up. Here are the median salaries for different members of the health care system, according to the BLS:

Skilled Trades

Can AI swing a hammer? No, thankfully. Skilled laborers like construction workers, electricians, plumbers, and carpenters rely heavily on hands-on skills, complex problem solving, and critical thinking in real time. This is something AI struggles to mimic.

And it’s a good time for skilled tradespeople. Cities throughout the country are experiencing construction boosts, leading to a spike in demand for skilled laborers. Plus, an aging workforce is creating a hole that these people would need to fill. The job outlook for construction workers between 2023 and 2033 alone is 7 percent, faster than average, according to the BLS. Here are, according to BLS data, the median salaries for different tradespeople:

Educators

AI can certainly solve complex math problems and answer your questions about science, history, and much more. But an educator’s role goes beyond simply transferring knowledge.

Teachers strive to develop personal connections with their students in order to understand their unique needs and adapt their techniques accordingly. It’s a very “human” role that AI may have trouble trying to imitate. Plus, the median pay for high school teachers in 2024 was $64,580 per year, according to BLS data.

Creatives

Sure, AI can write articles and produce graphics and audio. But can it really capture what’s unique to a creative’s mind? The answer is a resounding “No.” That’s why writers, musicians, painters, and others who draw from the mind and heart should not fear the rise of AI.

Lawyers

You may think that feeding every law book into an AI algorithm would make it a good digital lawyer. But the machine lacks the critical thinking skills and acumen that a human lawyer displays in court. And skilled lawyers make a good amount of money. The mean annual wage for a lawyer is $151,160, according to research from the BLS.

Social Worker

Being a good social worker requires empathy, care, and a drive to help people get through their darkest hours. It is human at its core, and AI simply can’t compete on an emotional level. And the field is expected to expand. The BLS estimates a 7 percent growth in employment for social workers between 2023 and 2033, faster than the average for all occupations.

The Bottom Line

AI can be as revolutionary as it is alarming. Many people worry that their livelihoods could be replaced by machines and complex algorithms. But no matter how advanced AI gets, it likely won’t develop the human touch. Jobs that require interpersonal skills, emotional support, empathy, critical thinking, and complex problem solving are likely to survive the AI revolution.

The Epoch Times copyright © 2025. The views and opinions expressed are those of the authors. 

Tyler Durden Fri, 06/27/2025 - 06:30

U.S. House Bans WhatsApp Over Data Security Concerns

Zero Hedge -

U.S. House Bans WhatsApp Over Data Security Concerns

The U.S. House of Representatives has officially banned the use of WhatsApp on all government-issued devices, citing serious cybersecurity concerns, according to The Guardian.

In a memo sent Monday, the House’s Office of Cybersecurity warned staff that WhatsApp poses a “high-risk to users due to the lack of transparency in how it protects user data, absence of stored data encryption, and potential security risks involved with its use.”

The notice, issued by the Chief Administrative Officer (CAO), advised House employees to use alternative messaging platforms considered safer by the office. Recommended apps included Microsoft Teams, Amazon’s Wickr, Apple’s iMessage and Facetime, and Signal.

Meta, the parent company of WhatsApp, strongly objected to the ban and the reasoning behind it.

“We disagree with the House Chief Administrative Officer’s characterization in the strongest possible terms,” a Meta spokesperson said. “We know members and their staffs regularly use WhatsApp and we look forward to ensuring members of the House can join their Senate counterparts in doing so officially.

Messages on WhatsApp are end-to-end encrypted by default, meaning only the recipients and not even WhatsApp can see them. This is a higher level of security than most of the apps on the CAO’s approved list that do not offer that protection.”

The Guardian writes that among the apps still permitted is Signal, which also provides end-to-end encryption. However, Signal has recently faced its own controversy. Defense Secretary Pete Hegseth reportedly used private Signal group chats to discuss sensitive military actions, including details of planned strikes on Yemen.

According to reports, one chat group was created by National Security Adviser Mike Waltz and included top U.S. security officials — as well as, unintentionally, journalist Jeffrey Goldberg from The Atlantic. A second group, created by Hegseth, reportedly included his wife, brother, and about a dozen others.

Despite Signal’s encryption, the Pentagon has expressed concerns about its use. A March 18 bulletin, described by NPR as an “OPSEC special bulletin,” warned Pentagon employees that Russian hackers could exploit a known vulnerability in Signal. The memo indicated that encrypted messaging apps could be targeted by state-backed cyber actors seeking to access sensitive communications.

While apps like Signal remain authorized for sharing general, unclassified information, the Defense Department memo clarified that “third party messaging apps” must not be used to transmit “non-public” unclassified content, reinforcing ongoing caution across federal agencies regarding digital security practices.

Tyler Durden Fri, 06/27/2025 - 05:45

Europe's LNG Gamble Exposed By Middle East War

Zero Hedge -

Europe's LNG Gamble Exposed By Middle East War

Authored by Irina Slav via OilPrice.com,

  • The Israel-Iran conflict has driven up diesel, jet fuel, and gas prices.

  • With 20% of global LNG flowing through the Strait of Hormuz, even threats of disruption have raised EU gas prices by 20%.

  • Europe’s refusal to sign long-term LNG deals or develop local hydrocarbon resources is backfiring.

Oil and the security of its supply have stolen the media spotlight in the context of the new Middle East war, and with good reason. Ever since Israel first bombed Iran, diesel prices have soared, jet fuel prices have soared, and importers have been troubled. For Europe, the situation is even worse due to natural gas.

Europe has been hurt more than others by the diesel price surge because it has boosted its imports considerably over the past years. About 20% of the diesel Europe consumes comes from imports, and a lot of these imports come from the Middle East. The situation is not much different in jet fuel. Europe depends on imports and a solid chunk of these imports comes from the Middle East.

What’s true of these essential fuels is doubly true of natural gas—even though direct imports of gas from the Middle East constitute a modest 10% of total imports. Yet they constitute a substantial portion of global gas exports, so any suggestion of disrupted supply affects gas prices in exactly the same way it has affected oil prices—and makes a vital commodity less affordable for Europeans.

The latest import figures from the European Commission, for 2024, show that Norway was the EU’s biggest supplier of natural gas via pipeline, and the United States was its biggest supplier of liquefied natural gas. Other large suppliers of LNG included—awkwardly—Russia, with 17.5% of the total inflows of LNG, and Algeria, with 10.7%. Qatar’s share in EU LNG imports stood at 10.4%, largely because Qatar prefers to deal in long-term contracts, and European Union planners don’t.

Yet it is not these 10.4% that matter. It is the fact that around 20% of global LNG trade passes through the Strait of Hormuz and Iran threatened to close the waterway in response to Israeli and U.S. attacks. This prompted a jump in European natural gas prices by a fitting 20% per the Financial Times, which highlighted the dangers of import dependence in energy commodities.

To be fair, the European leadership is aware of these dangers.

They are one reason for many European leaders’ near-obsession with the energy transition, on the assumption that wind and solar would be able to provide local energy—which is true—and that this energy can replace that provided by gas—which is not true. The latter was proven rather conclusively by the April 28 events in Spain, although it will be a while before the facts become accepted.

In the meantime, Europe is in for more suffering, even if Iran doesn’t close the Strait of Hormuz, which for the time being seems to have been taken off the table amid ceasefire efforts. The reason is that Europe needs to refill its gas storage caverns for next winter. Even if it cancels the 90% refill rate requirement, it still needs to buy a lot of gas, most of it on the spot market because of that aversion to long-term gas commitments it believes is part and parcel of the transition effort. And geopolitics has made LNG costlier—which will add billions to the refill bill.

Earlier this year, it became clear that Europe’s bill for natural gas would be higher this year than last because the winter of 2024-25 was colder and storage levels fell lower than in the previous two years. So, this year, Europe needs to buy more gas, adding some $11.2 billion to its total tab. But that was before the latest Middle Eastern war broke out. Now, the tab has gone further up—and Europe is already struggling with high energy costs, not least because of its dependence on LNG imports.

Once again, then, Europe would need to rely on luck. If it is lucky, demand for liquefied natural gas from Asia will remain tepid, as it has been over the first half of the year. If it is lucky, the war between Israel and Iran will be over within the month, removing the supply disruption premium from LNG prices. If it is lucky, finally, winter 2025-26 will be as mild as winter 2023-24 and gas demand will be lower.

Even if Europe gets lucky on all three, however, the cost of its energy will remain elevated compared to places such as China and the United States—its main business rivals. The reason is as simple as it is unpalatable for European political decision-makers: local supply. Both the U.S. and China are putting their local natural gas resources to good use. Europe isn’t, although in all fairness, it doesn’t have as much of an easily accessible gas resource abundance as either the U.S. or even China.

The staunch refusal to develop any hydrocarbon resources locally, however, is as counterproductive as the refusal to make long-term LNG supply commitments. It is a refusal to acknowledge the reality of energy demand and supply. The sooner Europe gets over this, the better for energy supply security.

Tyler Durden Fri, 06/27/2025 - 05:00

Kremlin Condemns White House Envoy's Comparing Iran & Ukraine Wars

Zero Hedge -

Kremlin Condemns White House Envoy's Comparing Iran & Ukraine Wars

Moscow has reacted angrily to fresh words of Trump special envoy to the Middle East Steve Witkoff, who has also been working on US diplomacy with Russia's Putin, after he drew parallels between the Ukraine war and Israel-Iran conflict.

"We’re hopeful that people look at what happened in Iran and say: ‘we want a part of that sort of peace process as well,’" Witkoff told CNBC on Wednesday. "This may well gravitate towards Russia and Ukraine."

In the interview he expressed hope for expanding the Abraham Accords, particularly to Saudi Arabia: "We are hoping for normalization across an array of countries, maybe that people would never have contemplated coming in before," he said. "We’re excited for that prospect. That would also be a stabilizer in the Middle East."

Via Al Jazeera

But the fact that he briefly drew comparison to the Ukraine war, expressing hope that Russia would take note of President Trump's peace 'successes' - has drawn condemnation from the Kremlin:

Israel’s “unprovoked” attack on Iran bears no comparison to the Ukraine conflict, Kremlin spokesman Dmitry Peskov said on Thursday, rejecting an assessment made by the US special envoy to the Middle East, Steve Witkoff.

Witkoff had suggested earlier that the recent ceasefire between Iran and Israel could serve as a model for ending the hostilities between Russia and Ukraine.

Peskov emphasized that the two wars greatly differ in "in their essence and nature" and further asserted that the "Israeli attacks on Iran were absolutely unprovoked."

He said that the Russia-Ukraine conflict is something "going back several decades" - and highlighted constant NATO expansion up to Russa's doorstep, and especially the "armed coup" in Kiev in 2014.

"It is hardly appropriate to draw parallels here," Peskov continued, and said that unlike Israel's and the United States' aerial assaults on Iran, the notion of "peace by force" is not something Russia did in the context of Ukraine. Israeli officials have even dubbed their actions 'preemptive'.

But of course, the West is going to vehemently disagree with this narrative, with the difference fundamentally coming down to whether the Ukraine war was provoked or unprovoked.

The question has increasingly been belatedly hotly debated over the last year, & finally even in mainstream publications...

Tyler Durden Fri, 06/27/2025 - 04:15

Only Political Engineering Can Restore Russian Language Rights In Ukraine Like Lavrov Wants

Zero Hedge -

Only Political Engineering Can Restore Russian Language Rights In Ukraine Like Lavrov Wants

Authored by Andrew Korybko via Substack,

Only the US is capable of pulling this off since Russia lacks influence over Ukraine’s political processes...

Russian Foreign Minister Sergey Lavrov pledged in early June on Russian Language Day that “Russia will not leave Russians and Russian-speaking people in trouble and will make sure that their legal rights, including the right to speak their native language, are restored in full. We will continue to speak about this pressing problem on international platforms. We will insist on having it resolved as a prerequisite for a lasting peaceful settlement of the Ukraine conflict.”

This aligns with Russia’s denazification goal and was included in the memo for ending the conflict that it handed to Ukraine during the second round of their newly resumed bilateral talks in Istanbul. Objectively speaking, the restoration of full Russian language rights in Ukraine is required for a sustainable peace, but this can only be brought about via legislative changes. Therein lies the problem since the Rada isn’t interested in repealing 2019’s “state language law” that entered into force in early 2022.

For precisely this reason, Russia’s memo also calls for elections to the Rada in parallel with those for the presidency, though there still wouldn’t be any guarantee that Russian-friendly forces (in the context of repealing the aforementioned law) would come to power for implementing that pragmatic demand. That’s why political engineering is ultimately required for restoring full Russian language rights in Ukraine, but Russia lacks influence over its political processes as proven by its inability to effect change.

Therefore, this part of Russia’s denazification goal might not be met unless the US takes on this responsibility, which it’d be wise to do so as to remove the roots of another conflict. After all, so long as Russian language rights aren’t fully restored, the Kremlin will keep championing this cause and possibly even consider covert action of some sort in pursuit of it. The millions of discriminated Russian speakers in Ukraine could provide a fertile recruiting ground for such operations after martial law is lifted.

The Trump Administration thus far doesn’t seem interested in that though as evidenced by the absence of pressure upon Zelensky to comply with Russia’s more important demanded concessions for peace like territorial claims and demilitarization. In fact, Trump suggested during his meeting at the White House with new German Chancellor Friedrich Merz in early June that it might be better for Russia and Ukraine to fight each other for a bit longer, which hints that he’s disinterested in these finer details for peace.

Even if he learned about them and agreed that they’re the best way for sustainably ending the conflict, perhaps under the influence of his pragmatic Special Envoy to Russia Steve Witkoff, questions would then arise about the means for politically engineering the desired outcome. It remains unclear how many Rada members will run for re-election, who’d oppose them, and what their position towards this highly sensitive issue would be in the domestic post-conflict context if they won.

Even if these details were known, secretive funding and media support for preferred candidates can only go so far, let alone for politically engineering an outcome where the Rada votes to repeal the “state language law” and the (new?) president doesn’t veto it or is overridden by a two-thirds majority. The most realistic way of advancing this goal is for the US to make post-conflict military and intelligence aid contingent on it being met, but for that to happen, Trump must rethink his entire envisaged endgame.

Tyler Durden Fri, 06/27/2025 - 03:30

UK To Buy US F-35s As Starmer Signals NATO Commitment

Zero Hedge -

UK To Buy US F-35s As Starmer Signals NATO Commitment

The UK will purchase at least 12 U.S.-made F-35A stealth fighter jets, restoring the Royal Air Force’s nuclear strike capability for the first time since 1998, according to Bloomberg.

Prime Minister Keir Starmer announced the move ahead of the NATO summit in The Hague, in a move widely seen as both a gesture to President Donald Trump and a step to reinforce Europe's defense amid doubts about long-term American security guarantees.

“You have to get relatively close to targets in order to drop it,” said Justin Bronk, a senior research fellow at RUSI, referring to the B61-12 tactical nuclear bomb the F-35A was certified to carry in 2023. “If the RAF is to be given a free-fall nuclear capability as part of the beefed-up deterrent plans, the F-35A is the only choice.”

Defense Secretary John Healey emphasized that this is not a new weapons program, but a reinforcement of NATO’s nuclear mission. “We’re facing increasing threats, we’re facing rising nuclear risks,” he told Sky News. “This is not the UK taking on a new nuclear weapon, it’s playing a part in the established nuclear mission in NATO.”

Under current arrangements, the U.S. would retain control over the nuclear bombs, and any deployment would require joint authorization by the U.S. and NATO’s top commander.

The £3.2 billion ($4.4 billion) purchase will include 27 aircraft by decade’s end, replacing more costly short-takeoff versions and supporting 20,000 UK jobs. “These planes will save money,” said defense procurement minister Maria Eagle, explaining that the UK will host 15% of the supply chain.

Bloomberg writes that the announcement comes as NATO is expected to adopt a bold new defense spending target of 5% of GDP, aimed at appeasing Trump’s long-standing criticism of European underinvestment in defense.

Starmer’s move reflects broader European anxiety over Trump’s wavering commitment to NATO’s Article 5, the alliance’s mutual defense clause. With Russia’s war in Ukraine ongoing and fears growing about President Vladimir Putin’s intentions, the UK is renewing its broader nuclear deterrent. This includes £15 billion ($20.4 billion) in new nuclear warheads and up to 12 nuclear-powered submarines as part of the AUKUS pact with the U.S. and Australia.

While most MPs backed the move, critics—including former Labour leader Jeremy Corbyn—warned it undermines nuclear non-proliferation commitments. Eagle dismissed the concerns, saying the UK was “establishing a way to use another state’s nuclear weapons to support an existing mission.”

Starmer’s strategy is to present the UK as a serious NATO contributor while courting a U.S. president known to reward big defense deals. However, Trump has so far offered little in return—ignoring EU calls for stronger sanctions on Russia and launching airstrikes on Iran despite European objections.

Tyler Durden Fri, 06/27/2025 - 02:45

Berlin To Build New Asylum Complex For Over 1,000 Migrants While Locals Face Housing Crisis

Zero Hedge -

Berlin To Build New Asylum Complex For Over 1,000 Migrants While Locals Face Housing Crisis

Authored by Thomas Brooke via Remix News,

Amid a continuing housing shortage for locals, Berlin’s state government has approved the construction of a new container village to house more than 1,000 asylum seekers on Tempelhofer Feld.

The site, once a Nazi labor camp and later an airport, has long been protected by a 2014 law banning new construction, but that law is now being overridden for migrant housing.

According to Senator Cansel Kiziltepe of the left-wing Social Democrats (SPD), the facility will open in the second half of 2028, offering between 1,000 and 1,100 beds. The justification, she says, is that Berlin’s regular shelters for migrants are still overflowing.

Sports and leisure areas are expected to remain intact, though minor amenities like a mini-golf course and barbecue lawn will be relocated. Officials were keen to stress that historically sensitive parts of the former forced labor camp will be left untouched.

Meanwhile, discussions about using Tempelhofer Feld for urgently needed housing for Berliners remain on the back burner. As reported by Junge Freiheit, six proposals for the future of the field are being reviewed, but no decisions will be made until at least September, and a public referendum may be required.

The planned asylum facility will go ahead regardless of what Berliners decide.

This decision follows a pattern of prioritizing asylum seekers over local residents. In 2023, Remix News reported that a new social housing complex in the Spandau district would be reserved exclusively for refugees. The complex, consisting of 128 apartments built by the city-owned WBM housing association, was to house 570 asylum seekers indefinitely, despite the long wait for Berliners seeking social housing.

The financial burden of migration continues to mount for the city. In 2023, Berlin spent at least €2.1 billion on asylum-related costs, accounting for 5 percent of its entire budget.

The state government, facing rising expenses, has turned to emergency borrowing. In March, Economics Senator Franziska Giffey confirmed that Berlin will take on new debt to cover refugee-related spending, taking advantage of relaxed rules under the so-called debt brake introduced by the new Grand Coalition federal government. This allows the city to borrow approximately €670 million annually, totaling €1.3 billion for the 2026 and 2027 budgets.

While money is being poured into housing for migrants, Berliners are facing a severe housing shortage. Germany’s largest cities are short an estimated 800,000 apartments. At the same time, office vacancy rates are at record highs, with enough empty office space to create around 152,000 homes nationwide.

However, the conversion of offices into apartments is being stifled by a raft of 20,000 building regulations, high interest rates, and spiraling construction costs.

Despite these challenges, Berlin’s government continues to rent out office space for migrant housing at rates well above market value.

In one case, the State Office for Refugees is paying €40 per square meter for a building that was initially offered at €25.80.

Other examples include €165 million for housing 1,500 people in Kreuzberg over 10 years, €143 million for 1,200 people in Lichtenberg, and €118 million for 950 people in Westend.

Read more here...

Tyler Durden Fri, 06/27/2025 - 02:00

VDH: In the End, Everyone Hated The Iranian Theocracy

Zero Hedge -

VDH: In the End, Everyone Hated The Iranian Theocracy

Authored by Victor Davis Hanson via AmericanGreatness.com,

It is hard even to digest the incredible train of events of the last few days in the Middle East.

Iran had been reduced to an anemic, performance-art missile attack on our base in Qatar—the last Parthian shot from a terrified regime, desperate for an out—and a ceasefire.

Iran would have been better off not launching such a ceremonial but ultimately humiliating proof of impotence.

Even worse for the theocracy, Iran’s temporary reprieve came from the now magnanimous but still hated Donald Trump.

So ends the creepy mystique of the supposedly indomitable terror state of Iran, the bane of the last seven American presidents over half a century.

For Supreme Leader Khamenei, it was hard to swallow that U.S. bombers got their permission to fly into Iranian airspace from the Israeli air force.

A good simile is that Trump put a pot of water on the stove, told Iran to jump in, put the lid over them, then smiled, turned up the heat—and will now let them stew.

As postbellum realities now simmer in Iran, the theocracy is left explaining the inexplicable to its humiliated military and shocked but soon-to-be-furious populace. All the regime’s blood-curdling rhetoric, apocalyptic threats against Israel, goose-stepping thugs, and shiny new missiles ended in less than nothing.

A trillion dollars and five decades’ worth of missiles and centrifuges are now up in smoke. That money might have otherwise saved Iranians from the impoverishment of the last fifty years.

How about the little Satan Israel, to which Iran for nearly 50 years promised extinction?

Israel had destroyed Iran’s expeditionary terrorists, Iran’s defenses, its nuclear viability, and the absurd mythology of Iranian military competence. And worse, Israel showed it could repeat all that destruction when and if it is necessary.

So, the most hated regime in the world crawled into the boiling pot because it looked around in vain for someone to void Trump’s ultimatum for a cease and desist.

But there were no last-minute saviors to rescue them.

The dreaded decades-long Iranian nuclear threat?

It is either gone for now, or if it resurfaces, it will be again far easier to vaporize at will than to rebuild a lost trillion-dollar investment.

Russia? Its former Obama-Kerry re-invitation back into the Middle East lasted only a decade.

It will now cut its losses like it did with the vanished Assad kleptocracy in Syria. Putin exits the Middle East not entirely displeased that his lunatic Iranian client did not get a bomb—but did get its just desserts. A tense Middle East tends to prop up Russian export oil prices.

Did China come to the mullahs’ aid?

No, they were not shy about ordering their Iranian lackey to keep the Strait of Hormuz open, through which 50 percent of Chinese-purchased oil passes.

For President Xi, the Iranians are treated as little more than Uyghurs with oil.

The world decided that it was tired of a half-century of crybully terrorism, empty nuke threats, mindless mobs screaming scripted banalities, cowardly murdering, and medieval theocrats threatening the general peace.

So, the world turned its back on Iran. And with a wink and nod, it let Israel and the U.S. do what they must.

As for Iran’s terrorist appendages, Hezbollah’s commanders are either dead, maimed, or in hiding.

Hamas has fled into a subterranean labyrinth.

The last Assad thug fled to Russia.

The crazy Houthis? They are reconsidering the idea of launching their last missile at the cost of their last port or power grid.

The anti-Trump Democrats and loony left?

Their talk of impeaching Trump for the supposedly “illegal” 35-minute, one-off strike will fade.

The Trump mission equaled less than one day of Obama’s predator drone strikes, targeted killings, or his five-year chaotic bombing in Libya.

Is the incoherent left furious that there is no more Iranian nuclear threat?

Mad that no Americans were killed last Saturday night?

Furious America likely killed few if any Iranians.

Or is it raging because Trump ignored Iran’s last-gasp attack and instead orchestrated a cease-fire?

Of course, in the Middle East, there is never a real end to anything.

We may see freelancing terrorists try to fill the vacuum of Iran’s decline. Or Iran itself may try to let loose a terrorist cell. It may later boast it has hidden away some enriched uranium.

But no matter.

The dimensions of this new Middle East will persist.

The new reality is that either Israel or the U.S.—if they keep their earned confidence within proper limits—can now ensure a non-nuclear Iran by easily blowing up its costly nuclear program as often as it is rebuilt.

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

Tyler Durden Thu, 06/26/2025 - 23:25

Chinese Influence In Climate Change Lawsuits Threatens To Derail U.S. Energy Industry

Zero Hedge -

Chinese Influence In Climate Change Lawsuits Threatens To Derail U.S. Energy Industry

A new op-ed from oil services CEO Dan Eberhart in Forbes makes the case that climate change litigation is a growing threat to U.S. energy - and that the U.S. could fall behind China as a result.

He notes that Senator Ted Cruz has repeatedly voiced concern that American energy security is under threat—not from foreign armies or economic collapse, but from a coordinated legal campaign masquerading as environmental activism. This week, Cruz’s Judiciary oversight subcommittee is convening a hearing to dig into what he believes is a coordinated effort between China and the U.S. climate litigation movement aimed at undercutting U.S. energy dominance.

According to Eberhart's piece in Forbes, the wave of climate lawsuits, particularly those brought by firms like Sher Edling, are supported by a network of well-funded foundations and advocacy organizations. These entities, he argues, may be unintentionally serving the strategic goals of America's geopolitical adversaries—especially China—by hampering domestic fossil fuel production and increasing reliance on foreign-controlled clean energy supply chains.

Eberhart points out that China already dominates global markets for critical materials like lithium and cobalt, as well as solar and battery manufacturing. So, any U.S. policy that accelerates a transition away from fossil fuels without securing domestic alternatives, he warns, risks handing Beijing the upper hand in both energy and manufacturing.

The national security implications are becoming harder to ignore. The U.S.-China Economic and Security Review Commission has raised alarms that the Chinese Communist Party is working to influence U.S. state and local policy to advance its global agenda. A report from the nonprofit State Armor further claims that China has infiltrated segments of the American environmental movement to steer energy policy in a way that aligns with Chinese interests.

One organization receiving particular scrutiny is the Energy Foundation China (EFC). Though it’s officially based in San Francisco, most of its staff are located in Beijing, and its activities reportedly align closely with CCP goals. Eberhart notes that EFC has funneled millions into U.S. anti-fossil fuel groups, including the Rocky Mountain Institute and the Natural Resources Defense Council (NRDC)—the latter of which faced a 2018 congressional inquiry over potential foreign agent registration.

Concerns about Chinese influence don’t stop with advocacy groups. The House Energy and Commerce Committee has previously warned that Beijing is exploiting social and political divisions in America to steer energy policy in its favor. Several major U.S. philanthropic institutions—including the Rockefeller, Hewlett, and MacArthur foundations—have funded environmental litigation efforts that Eberhart believes would never have gained traction without their financial support. However, these donors have largely ignored the risks of foreign manipulation embedded in the groups they help fund.

The influence campaign, Eberhart claims, also extends into academia. Chinese government-affiliated institutions like the National Natural Science Foundation of China have published research in U.S. journals criticizing fossil fuels and painting American companies as deceptive. Notably, one of EFC’s top communications staffers once worked at this same Chinese foundation.

Meanwhile, what Eberhart calls a “revolving door” between activist nonprofits and federal agencies raises further ethical concerns. For instance, Ann Carlson, now serving in the Biden administration, previously consulted for Sher Edling while also sitting on the board of the Environmental Law Institute—a group that has partnered with Chinese organizations on legal education initiatives tied to climate litigation.

Eberhart argues that the Senate subcommittee led by Sen. Cruz is uniquely positioned to investigate the network of foreign and domestic actors behind the legal assault on American energy. Transparency, he writes, is crucial. Americans deserve to know who is funding these lawsuits and why. Otherwise, he warns, efforts to revive the “energy dominance” doctrine promoted during the Trump administration may not be enough to overcome what he sees as an opaque and potentially dangerous campaign.

While the U.S. debates and litigates its energy future, Eberhart cautions, China is rapidly building coal plants, securing fossil fuel deals, and tightening its grip on clean energy supply chains. If current trends continue, Beijing may find itself in a commanding position—while the U.S. energy sector is entangled in regulation, litigation, and foreign dependency.

It's almost as if all of this progressive "activism" really was put in place to set us in motion backwards...

Tyler Durden Thu, 06/26/2025 - 23:00

Cancer Patients Recover By Taking Repurposed Anti-Parasitic Drugs

Zero Hedge -

Cancer Patients Recover By Taking Repurposed Anti-Parasitic Drugs

Authored by Huey Freeman via The Epoch Times (emphasis ours),

Joe Tippens never planned to discover a potential remedy that he credits with saving his life and thrust him into the spotlight among notable cancer survivors. The 67-year-old businessman told The Epoch Times he just wanted to beat a type of cancer with an extremely low survival rate.

Illustration by The Epoch Times

In August 2016, Tippens was diagnosed with small cell lung cancer with a fist-sized tumor. After undergoing chemotherapy and radiation five times a week in Houston, the large tumor in his left lung was eliminated. However, Tippens said the treatments came closer to killing him than curing him.

When he returned home to Oklahoma after the New Year, he received devastating news. His oncologist told him he had zero chance of surviving for more than a few months.

In January of 2017, my PET scan lit up like a Christmas tree and I had wide metastasis everywhere, including in my neck, bones, pancreas, and liver,” Tippens said.

Finding a Lifeline

Facing a prognosis of three months to live, Tippens heard an intriguing story from a veterinarian he knew: A scientist with terminal cancer reportedly cured her lab mice and then herself using fenbendazole, an antiparasitic drug.

The story was the beginning of what eventually became the “Joe Tippens Protocol.”

Fenbendazole, used for 30 years to treat intestinal parasites in animals, has not received U.S. Food and Drug Administration (FDA) approval for human use, meaning doctors cannot prescribe it for people. However, with a terminal diagnosis and nothing to lose, Tippens decided to try it alongside his conventional treatments.

Tippens found that Panacur, a trade name for fenbendazole, was sold over the counter at outlets that carry veterinary medications.

Starting in the third week of January 2017, Tippens began taking the canine medication, Panacur, 1 gram per day for three consecutive days per week. After four days without the medication, which contains about 222 milligrams of fenbendazole per gram, he would repeat his three-day routine. Three months later, Tippens was cancer-free.

His protocol also included Theracurmin, a form of the active compound in turmeric, and CBD, an extract of cannabis which does not cause intoxication.

Scientific Support and Mechanisms

Dr. William Makis, an oncologist and cancer researcher based in Edmonton, Canada, has studied Tippens’s approach and treats cancer patients worldwide, primarily through telehealth.

“I’ve had several patients declared cancer-free after doing the protocol for a number of months,” Makis told The Epoch Times. “What made [Tippens’] situation so powerful is that he cured himself of a cancer that is very aggressive—small cell lung cancer—and he had a terminal diagnosis.”

According to Makis, the family of anti-parasitic drugs that includes fenbendazole, mebendazole, and albendazole works well—scientists have found at least 12 ways the medications can fight cancer.

The effectiveness of the drugs stems from key similarities between parasite and cancer cells: both have the capacity for autonomous survival and proliferation, resistance to cell-death pathways, and the ability to circumvent the host immune system.

Anti-parasitic drugs appear to fight cancer through multiple mechanisms:

  • Boosting protein called p53: P53 is a tumor suppressor protein that helps kill cancer cells.
  • Blocking glucose uptake: Cancer cells depend on sugar for energy and growth.
  • Disrupting microtubules: These cellular structures are crucial for cell division of cancer cells.
  • Affecting mitochondrial function: Depletes cellular energy, increases oxidative stress, and blocks a critical pathway that regulates cell growth of cancer cells.

Researchers at the Stanford University Medical Center have reported several case reports, using fenbendazole to cure Stage 4 cancer cases, Makis said. The series of case reports was published in 2021 in SciTechnol, an online, London-based publisher of scientific journal articles.

A thought-provoking review citing animal studies published in 2024 in Anticancer Research Journal concluded that fenbendazole affects energy metabolism—mainly by increasing the levels of p53 and affecting pathways that control sugar uptake. It ultimately starves cancer cells and causes them to die with minimal harm to normal cells.  The researchers concluded that fenbendazole’s effects on energy metabolism “could lead to significant advances in cancer treatment.”

Some preliminary research also suggested potential anti-cancer mechanisms for fenbendazole. A study published in Scientific Reports in 2018 by researchers in India found that fenbendazole “may be evaluated as a potential therapeutic agent because of its effect on multiple cellular pathways leading to effective elimination of cancer cells.” Specifically, fenbendazole interferes with microtubules involved in cell division.

A 2016 study published in Biochemical and Biophysical Research Communications found that ivermectin, an antiparasitic drug approved for human use, shows promise against glioblastoma, an aggressive brain cancer known for treatment resistance. The drug kills glioblastoma cells and inhibits blood vessel development. In laboratory and mouse studies, ivermectin triggers cancer cell death and significantly reduces tumor growth.

Recent research has shown that a combination of fenbendazole and diisopropylamino dichloroacetate, a compound used to treat hepatitis, has shown some anticancer properties in cell cultures and animal studies. Combined, the drugs kill lung cancer cells more effectively than either drug alone.

Makis has found that combining fenbendazole with ivermectin can increase the protocol’s effectiveness.

“When you combine them, you go from attacking cancer in a dozen ways to attacking cancer in two dozen ways,” Makis said. “I have found it very reasonable to include both of them in protocols if there is pre-clinical research that each of them has an effect [on] that particular type of cancer. Whenever you have a specific cancer, I want to look at the body of research to see if there is a proven effect of either ivermectin or fenbendazole for that type of cancer. If there is, then I share that research with my patients.”

Makis has treated patients with various cancers—from common types like breast, prostate, colon, and lung cancer to rarer forms such as cholangiocarcinoma (bile duct cancer) and sarcomas (soft tissue cancers). “I’ve had several patients declared cancer-free after doing the protocol for a number of months,” Makis said.

Although Makis has been recommending ivermectin and fenbendazole for cancer treatment, he acknowledges that many doctors refrain from this practice.

Doctors are very hesitant to help cancer patients with repurposed drugs because of repercussions from the medical boards, Makis said.

“On the other hand, you have doctors who are willing to help patients with repurposed drugs but no experience with oncology,” he said.

When asked whether he recommends that cancer patients consult with an integrative physician who approves of those treatments, Makis said it is good for a patient to have a relationship with a doctor who has experience with oncology.

“It depends on the physician’s background,” Makis said. “Some doctors have extensive experience, after seeing cancer patients for many years.”

Patient Success Stories

Donna Leland, 64, a show host on the national Moody Radio Network, was diagnosed with Stage 3 cervical and endometrial cancer in April 2023. She underwent a hysterectomy but declined the recommended chemotherapy and radiation.

“I had seen the outcome for other people who had gone that route,” Leland told The Epoch Times. “Some had gotten all cleared, but then the cancer came back. I know it diminishes your own immune system’s ability to fight off disease.”

Leland told the doctor she did not want those treatments and asked for another option. But she was offered nothing else.

“I knew there had to be a better way than to fry everything. I just said, ‘I’d rather die than fry.’”

Leland began taking fenbendazole and ivermectin. She also found support from Terry Harmon, a chiropractor and functional medicine physician in Kentucky.

Harmon says more than 100 of his patients have reported positive health benefits from using fenbendazole or ivermectin.

“The reason so many people are finding success is twofold,” Harmon told The Epoch Times. “It is addressing infections. It helps the body heal and get stronger. There is research showing this combination helps the body’s ability genetically to kill cancer and prevent cancer from growing and spreading.”

Leland said she had confirmation of the effectiveness of these alternative treatments from studies on ivermectin, fenbendazole, and other anti-parasitic drugs. Mebendazole is another anti-parasitic drug that both Makis and Harmon recommended as an effective cancer treatment.

One year after her hysterectomy, Leland said she is healthier than she has ever been, partly because of her continuing use of anti-parasitic drugs for preventive purposes.

“After being checked every three months for evidence of cancer, my oncologist continues to declare me cancer-free.”

“I feel like I’m 20 years younger,” Leland said. “God has been faithful to lead me on this journey.”

Global Impact

The Tippens Protocol has achieved significant international reach, particularly in China, where a translated blog has garnered more than 20 million views. This has led to an estimated 70,000 followers of what’s affectionately called the “Uncle Joey Protocol.”

Despite opportunities to monetize his discovery, Tippens has refused all financial gain.

I have had search engine experts who have told me I could monetize this blog to the tune of $25,000 to $30,000 per month,” he said. “I can’t do that for a simple reason: I have hundreds of people who have told me the reason they believe me and trust me is because I am doing all this and not monetizing it. The second I monetized it, I would be just another guy out there hawking product out on the Internet, trying to make money.”

Tippens warns about fraudulent Facebook pages that falsely use his name to sell substandard drugs.

Regulatory and Medical Challenges

The FDA confirmed that it has not approved “drug products containing fenbendazole for use in humans,” said Lauren-Jei McCarthy, FDA press officer, in a statement to The Epoch Times. It has not gone through the rigorous testing and clinical trials required for drugs intended for human use. Fenbendazole is approved by the FDA as an antiparasitic drug for use in animals. It is commonly used to deworm dogs, cats, horses, and cattle.

Ivermectin, while FDA-approved for human use against parasitic worms, is not approved for cancer treatment. Health care providers may prescribe ivermectin to fight cancer as a repurposed medication. Both medications are available without prescriptions and are routinely purchased for veterinary use.

Makis, who has been at the cutting edge of advocating for holistic treatments that include the repurposed drugs, said he believes we are in a revolutionary era of effective cancer treatments.

“This is the first time in several generations there is a strong movement for true medical freedom, to allow for exploration of treatments that don’t benefit any big company,” he said.

Serious side effects from fenbendazole and ivermectin are rare, Makis said.

“I have seen moderate side effects, which include unpleasant visual symptoms, some dizziness, and fatigue,” Makis said.

Tippens is encouraged by ongoing research into other FDA-approved drugs that might be repurposed for cancer treatment.

“Because of my story, I think there are other efforts in research in the anti-parasitic category,“ Tippen said. ”There are seven sister drugs to fenbendazole. One medical group has used mebendazole in their protocol. I think I’ve started at least opening people’s brains to something.”

Tyler Durden Thu, 06/26/2025 - 22:35

Confusion As Trump Says Deal With China "Signed" Yet Both Sides Violate Terms Of Ceasefire

Zero Hedge -

Confusion As Trump Says Deal With China "Signed" Yet Both Sides Violate Terms Of Ceasefire

There was a burst of confusion late in the day when Donald Trump said that the US and China had signed a trade deal two weeks after saying they had reached an understanding in London about how to implement a ceasefire in the countries’ dispute.

“We just signed with China yesterday,” the president said at the White House on Thursday, without providing any details.

The reality turned out to be far less exciting than what Trump represented.

Shortly after, a White House official said the US and China had "agreed to an additional understanding for a framework to implement the Geneva agreement", in a reference to the trade talks that the nations held in May, when they first negotiated a truce, which was really just an agreement to continue negotiating. And since there was still leftover confusion, Trump's Commerce Secretary Howard Lutnick, said that the US and China sign a "finalized a trade understanding" reached last month in Geneva adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners.

The China deal, which Lutnick said had been signed two days ago, codified the terms laid out in trade talks between Beijing and Washington, including a commitment from China to deliver rare earths used in everything from wind turbines to jet planes. 

In other words, the "deal" that was just signed was merely another reaffirmation that the two sides continue to talk about eventually sitting down to negotiate. 

Lutnick told Bloomberg Television that President Donald Trump was also prepared to finalize a slate of trade deals in the coming two weeks in connection with the president’s July 9 deadline to reinstate higher tariffs he paused in April. 
“We’re going to do top 10 deals, put them in the right category, and then these other countries will fit behind,” he said. Lutnick did not specify which nations would be part of that first wave of trade pacts, though earlier Thursday Trump suggested the US was nearing an agreement with India. 

As a reminder, the "China accord" Lutnick described is far from a comprehensive trade deal that addresses thorny questions about fentanyl trafficking and American exporters’ access to Chinese markets. 

After an initial round of negotiations in Geneva resulted in a reduction in tariffs imposed by both countries, the US and China accused each other of violating their agreement. After subsequent talks in London this month, negotiators from the US and China announced they had arrived at an understanding, pending approval from Trump and Chinese President Xi Jinping.

Lutnick said that under the agreement inked two days ago, US “countermeasures” imposed ahead of the London talks would be lifted, but only once rare earth materials start flowing from China.

Which is a problem: as discussed previously, China's biggest point of leverage in the trade war negotiations is its control of rare earth exports to the US; it's also why the ceasefire deal announced in early June was mostly meant to restart exports of Chinese rare earths to the US.

That never happened. As the WSJ reported overnight, two weeks after China promised the U.S. it would ease the exports of rare-earth magnets, Chinese authorities have been dragging out approval of Western companies’ requests for the critical components, a situation that is bound to reignite trade tensions between Washington and Beijing.

Western companies say they are receiving barely enough magnets for their factories and have little visibility of future supplies. Firms are waiting weeks as Chinese authorities scrutinize their applications, only to be rejected in some cases. And applications for raw rare earths, which are used to make magnets, are rarely granted.

As a result, Western companies are concerned that the shortages could soon affect manufacturing. Companies are so desperate for magnets that they are opting for expensive airfreight whenever licenses are granted to prevent costly production shutdowns. Some manufacturers are experimenting with workarounds that would allow them to make their products without the most powerful magnets.

“It’s hand to mouth—the normal supply-chain scrambling that you have to do,” said Lisa Drake, a vice president overseeing Ford’s industrial planning for batteries and electric vehicles, earlier this week. Although she said the situation had improved, the scarcity of the rare-earth magnets is forcing Ford to “move things around” to avoid factory shutdowns, she said.

As a result, contrary to White House assertions that the flow of the critical components would return to normal, manufacturers have taken the continuing challenges as a sign that new Chinese rare-earth export restrictions, introduced in April after President Trump raised tariffs on China, are here to stay.

“Yes, the export restrictions have been paused on paper. However, ground reality is completely different,” said Neha Mukherjee, a rare-earths analyst at Benchmark Mineral Intelligence. The licensing process is plagued by “bureaucratic drag.”

On Thursday, China’s Ministry of Commerce issued a token statement that it has been accelerating the review of rare-earth export license applications and has approved “a certain number.” 

The restrictions illustrate the power Beijing holds through its formidable supply chains and how it can use them to inflict pain on Western businesses and exact concessions from the US. China makes 90% of the world’s most powerful rare-earth magnets, a key component in everything from cars to jet fighters. In April, after Trump heaped stiff tariffs on Chinese products, Beijing established an export-control system for rare earths. While it said the license system was set up to regulate the export of materials for military use, the regime has in effect allowed China to clamp down on rare-earths supplies as it wishes.

After April, the supply of magnets to Western businesses slowed to a trickle, causing shock waves for global car, defense and electronics makers. Exports of rare-earth magnets to the U.S. declined 93% in May from a year earlier. Ford stopped production of its Explorer SUV at its Chicago plant for a week in May.

The U.S. accused China of slow-walking the approval of export licenses, which China denied. The shortage drove both sides back to the bargaining table earlier this month, where China agreed to free up the flow of rare earths in exchange for the U.S. easing its own restrictions on certain U.S. exports to China.

Following the deal, Trump wrote that “full magnets, and any necessary rare earths, will be supplied up front by China.”

However, China put only a six-month limit on any new licenses, we later learned as Beijing seeks to keep DC on a tight leash. Now, in the applications for export licenses, Chinese authorities are asking Western companies for sensitive details such as contact information of those buying their magnets and even designs of how their magnets are integrated into components like motors.

Beijing also appears to be trying to prevent stockpiling by Western businesses. One Chinese magnet maker has warned clients seeking to import more magnets than usual that they may have to explain to government officials the “business drivers” behind such large orders, according to an advisory note the magnet maker shared with clients.

Fearful of shortages, many Western businesses are complying with the information requests—but are still facing long delays. The success of their application also depends on their supplier. Big state-connected magnet companies are getting export licenses faster than smaller private ones, according to many in the industry.

“The export policy for magnet[s] is still very strict,” said a representative for one Chinese magnet maker. Now, some Western businesses say they are resigned to the fact that the restrictions may remain in place indefinitely.

For a detailed analysis of the leverage China has with its supply chain of Rare Earths, please read Morgan Stanley's key report on the topic "How China Is Playing Its Rare Earth Card" (available to pro subscribers).

And while China is clearly dominating the rare earth supply chain (for now, as it is only a matter of time before the Trump admin subsidizes domestic producers such as MP Materials to ramp up production as an alternative to China), the US is doing the same with ethane (a relationship we described in "China's Need For US Chemicals Greater Than US Need For Rare Earths".)

China imported more than 565,000 barrels per day of petrochemical feedstocks from the US in 2024 according to the Energy Information Administration, with a value of over $4.7 billion. That dwarfed the $170 million of rare earths the US imported last year, about 70% of which came from China, according to the US Geological Survey.

The figures show the dependence the US and China have developed on each other by ever tightening trade links over the past few decades. While China has a tight grip on refining many metals crucial for industry, it also takes in niche chemicals from the US that are difficult to buy elsewhere.

China leans on naphtha to produce most base chemicals, which are processed further to end up in everyday items like electronics and clothing. However, some plants can switch to cheaper propane when the economics make sense, which they do regularly. Propane dehydrogenation plants however can’t process alternatives like naphtha. The US accounted for over half of all China’s propane imports in 2024. 

And so, with China refusing to comply with the terms of the recent ceasefire and unlock rare earth exports to the US, Washington is doing the same, and as Reuters reported yesterday, the US sent letters to Enterprise Products and Energy Transfer on Wednesday informing the companies they could load ethane on vessels destined for China but could not unload the ethane in China without authorization. 

The letters from the U.S. Department of Commerce follow a licensing requirement imposed several weeks ago on the companies' exports of ethane to China, which halted shipments and led to vessels anchoring in or hovering around the US Gulf Coast

A copy of the letter seen by Reuters and later released by Enterprise Products said, "This letter authorizes Enterprise Products to load vessels with ethane, transport and anchor in foreign ports, even if... to a party located in China," the letter said. "However, Enterprise Products may not complete such export... to a party that is located in China," without further authorization.

The letters, Reuters muses, may signal the US preparing to lift restrictions imposed on exports to China in late May and early June, as the U.S.-China trade war shifted from retaliatory tariffs, to curbs on each others supply chains. With China granting rare earth export licenses to some firms and saying it would speed up the approval process, the U.S. now appears close to permitting ethane exports to China.

However, the decision to limit unloading of ethane is more likely another form of negotiation, one which signals that the cargo will not be released unless China complies with its own terms, and resumes shipments of rare earths. 

About half of all US ethane exports go to China, where it is used by the petrochemical industry. China’s ethane cracking capacity is dwarfed by its capacity to process naphtha and propane, but almost all of its ethane imports come from the US. The restrictions will have a significant impact on the Lianyungang and Tianjin plants, owned by Satellite Chemical, Sinopec and INEOS. SP Chemicals, a Singapore-based producer, sources most of its feedstock from Enterprise Products Partners.

The ability to load and begin transporting ethane could relieve congestion at ports along the U.S. Gulf coast, where vessels have been stalled, although that now appears to be dependent on China complying with the terms of the London ceasefire. 

Since May 23, the U.S. imposed new restrictions on exports to China of everything from ethane and chip design software to jet engines and nuclear plant parts.

As the trade war continues, it appears commodities are now leading the confrontation, with players on both sides set to feel the pain.

More in the Morgan Stanley report "How China Is Playing Its Rare Earth Card", available to pro subscribers.

Tyler Durden Thu, 06/26/2025 - 22:11

Offshoot Of Syria's Ruling HTS Claims Credit For Damascus Church Bombing

Zero Hedge -

Offshoot Of Syria's Ruling HTS Claims Credit For Damascus Church Bombing

Authored by Jason Ditz via AntiWar.com,

On Sunday, a massive suicide bomb attack tore through the important Greek Orthodox church Mar Elias in Damascus, killing 27 and wounding dozens more. The huge attack just added to the spate of sectarian violence across Syria, which undercuts the Islamist Hayat Tahrir al-Sham (HTS) government’s claim to be protecting religious minorities.

The HTS was quick to blame ISIS for the Mar Elias bombing, and on Monday announced the arrest of a number of ISIS associates who they claimed were involved, vowing to bring them to justice. Now that whole narrative seems in doubt.

ISIS never took credit for the Mar Elias bombing, which, since it was the biggest attack in Damascus in a very long time, would be an unusual oversight. Now, another group, Saraya Ansar al-Sunnah (SAAS), issued its own statement claiming credit for the attack.

SAAS, which was said to be formed in February, went on to say that the government’s claims of arresting people involved with the attack were “untrue, fabricated.” The group is being presented as an ISIS splinter group by some reports, but the reality is substantially different.

SAAS does indeed have some ISIS defectors within, according to reports, but it also has a substantial number of HTS defectors.

SAAS founder Abu Aisha al-Shami was an HTS member, and said he broke away and formed his own group because he perceived HTS as being too soft on Shi’ites and other “rejectionists.

While HTS has undergone a massive reformation in its presentation in the media, the group was a renamed al-Qaeda affiliate that retains its deeply Salafist ideologies.

While playing nice with religious minorities in Syria on paper, they’ve tended to turn a blind eye to attacks on them, notably the massacre of the Alawites, where well over 1,300 Alawites were killed in March, many by security forces. Those killings continue to this day, and the promised investigation never seemed to go anywhere.

Speaking of Alawites, SAAS played a part in these massacres as well. The group regularly brags of carrying out attacks on Alawites and Druze Syrians, including what they called the “Harvest of Ramadan,” where they listed attacks and vandalism done during the holiday on the Alawite town of Qardaha.

That they would be behind the Mar Elias attack is not out of keeping with the way the group has operated in its brief existence. It provides a messaging problem for the HTS though, since the government has not done much about the SAAS at all since it came into existence.

The Orthodox Christian leader in Syria has called out the Jolani regime:

Syrian Christian leader Patriarch John X. Yazigi issued a statement after the attack criticizing the government for its inability to protect religious minorities, saying “condolences are not enough for us” and that the government has a fundamental duty to protect all its citizens. For now, though, that has begun and ended with blaming ISIS to justify ongoing operations against ISIS in the east.

Tyler Durden Thu, 06/26/2025 - 21:45

Drag Queen Weather Hour On NBC's News Center Maine Ends With 404 Error

Zero Hedge -

Drag Queen Weather Hour On NBC's News Center Maine Ends With 404 Error

Months before President Trump officially began his second term, the cultural tide shifted.

The era of toxic wokeism and DEI propaganda—pushed by rogue, taxpayer-funded NGOs, bloated government bureaucracies lined with leftist activists, and globalist corporations—was collapsing under its own weight. Yet, in a glaring defiance and display of utter disconnect of where precisely the Overton Window stands today, a local television station in Maine greeted families turning into the weather on their television sets with a drag queen named "Chartreuse Money."

Dressed in what resembled a figure skating outfit, Chartreuse Money, featured on NBC's News Center Maine, told viewers earlier this week, "All it took was a pride parade to bring the sunshine out, honey."

Fast forward a few days—likely after massive backlash—and X user Libs of TikTok reports that the local media outlet "deleted the drag queen weather forecast after backlash."

DEI ends in a 404—diversity not found, inclusion failed, equity error.... 

Public records analysis reveals that News Center Maine is the joint TV news brand of WCSH-6 in Portland and WLBZ-2 in Bangor, owned by Tegna Inc.

Upstream ownership of Tegna has no surprises whatsoever...

What X users are saying:

.  .  .  

Tyler Durden Thu, 06/26/2025 - 21:20

Why Processed Foods May Be Secretly Raising Your Blood Pressure

Zero Hedge -

Why Processed Foods May Be Secretly Raising Your Blood Pressure

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

Common phosphate additives that keep your packaged foods fresh and flavorful may be driving up your blood pressure, a recent study has found.

Daisy Daisy/Shutterstock

The study, conducted in laboratory rats over 12 weeks, revealed that inorganic phosphates may contribute to hypertension by stimulating the release of a chemical called fibroblast growth factor 23 (FGF23).

How Food Preservatives Raise Blood Pressure

Researchers discovered that high-phosphate diets cause a specific protein called FGF23 to accumulate in the blood and then cross into critical brain regions that control blood pressure, including the brain stem.

The findings suggest this effect occurs because high levels of phosphate cause the body to release FGF23, which crosses into the brain and stimulates certain receptors that raise sympathetic nerve activity, ultimately causing hypertension.

Further experiments indicate this involves activation of a protein called calcineurin, which is known to influence nerve activity and heart function.

Natural versus Inorganic Phosphates

Not all phosphates are created equal, the research suggests. The findings relate mainly to inorganic phosphate, said Dr. Wanpen Vongpatanasin, one of the study authors and a hypertension expert at the University of Texas Southwestern Medical Center.

While vegetables naturally contain high amounts of phosphate, it exists in an organic form that the body absorbs poorly—only 40 percent to 60 percent is absorbed in the intestines.

By contrast, inorganic phosphates added during food processing have an absorption rate exceeding 90 percent, making them far more likely to reach problematic levels in the bloodstream.

Phosphate additives, commonly used as preservatives and flavor enhancers in processed foods and cola drinks, are highly absorbable, she noted.

“Vegetables also contain high amounts of phosphate, but it is in the form of organic phosphate, which is not easily absorbed in the gut. Therefore, they do not have the same side effect profile,” Vongpatanasin said.

Excess Phosphate Linked to Other Health Issues

The phosphate problem extends beyond cardiovascular concerns, according to registered dietitian nutritionist Holly Huhlein, who was not involved in the study.

“This is one of the reasons why overconsumption of highly processed foods, such as bakery products, processed dairy products, and highly processed snacks, is not recommended,” said Huhlein.

She noted that while phosphates in highly processed foods help preserve them and blend ingredients together, consuming too much phosphate has the potential to cause weak bone structure, damage to the kidneys, and increased risk for heart issues due to the imbalance of the ratio of calcium to phosphorus in the body.

We tend to store phosphate alongside calcium in the body in our bones, and our bodies naturally do a great job of managing our phosphate levels through balancing hormones and other minerals,” she said.

High levels of phosphate can cause the body to pull calcium out from bones.

However, Huhlein said that phosphates are also an essential mineral in the body and important for many bodily functions, including the creation of DNA, cellular structure, bone mineralization, and utilizing energy in the body.

Who Should Be Most Concerned

For the general healthy population, Huhlein said, phosphate is not a concern when eating a well-balanced diet consisting of lean protein sources (animal and plant proteins), whole grains, fruits, and vegetables.

Rather, she added, concern can come from a diet higher in highly processed foods that, besides tending to have more additives like phosphates, also contain higher amounts of saturated fats and added sugars that people are encouraged to limit.

For this reason,” Huhlein said, “if you are focusing on consuming a majority of nutrients from whole food sources while occasionally consuming shelf-stable or highly processed foods, phosphate consumption is not of concern.”

However, certain populations that have special dietary needs, such as those with kidney issues or osteoporosis, should be more cautious, she added. “Osteoporosis is caused by our bones breaking down faster than they can be rebuilt, and maintaining a proper calcium-to-phosphate ratio can play a role in keeping the condition from escalating,” Huhlein said. “As for our kidneys, they are one of the ways we monitor and manage phosphate levels by excreting them through urine.”

Vongpatanasin cautioned that because the research was conducted in animals, it remains unconfirmed whether the same effects would occur in humans.

According to Vongpatanasin, the findings also suggest that the brain’s FGF receptor 4 pathway could be a promising target for new treatments for high blood pressure linked to diet.

Tyler Durden Thu, 06/26/2025 - 20:55

"Train Wreck": Extreme Measures Being Taken To Battle Biden's 'Green' Energy Grid Crisis

Zero Hedge -

"Train Wreck": Extreme Measures Being Taken To Battle Biden's 'Green' Energy Grid Crisis

Energy Secretary Chris Wright warns that the U.S. power grid is nearing its capacity limit, as his department urgently works to avert a potential crisis.

This week, the Energy Department issued an emergency order to counter a Southeast heatwave threatening grid stability and blackouts, authorizing full operation of specific electric generating units.

US Energy Secretary Chris Wright

"In my department, we've issued four emergency orders just in the last few weeks to stop the closure of reliable plants, so we can keep the lights on and stop pushing up electricity prices,” Wright said in an interview Thursday with Fox News.

"We were on a course that was a train wreck,” the Trump official warned. "We're doing everything possible now to sweep out the nonsense.”

Wright blamed Biden-era regulations, specifically emission regulation, for that power grid being on the brink of failure.

"We had to issue an emergency order a few days ago just to let utilities in the Southeast run their plants at full capacity so they could keep the lights on. Under the Biden laws, that's illegal," Wright said. "Emissions rules would have prevented them from producing all the electricity they could, and they would have had rolling brownouts. That's just total nonsense.”

U.S. electricity demand is projected to surge 16% over the next five years, three times the growth predicted just last year, according to the White House. In April, President Donald Trump signed an executive order to bolster the reliability and security of the grid.

"We need to make changes rapidly. We need to see new capacity built, smarter regulation, we need to use our grid wiser. There's so many things we need to do to improve it. We can't do it all overnight," Wright cautioned.

"I can assure you, the team at [the] Department of Energy and across this administration are 24/7, seven days a week, working to get out the morass, the nonsense that got put in,” he added. "Free American energy production, and bring jobs back here. We want a shortage of electricity and plumbers and all that, that pushes wages up and that gives great job opportunities for all those hard-working Americans.”

Interior Secretary Doug Burgum declared in May that the U.S. is on the brink of crippling blackouts, much like those that paralyzed Spain, thanks to reckless over-subsidization of unreliable renewable energy sources.

Burgum attributed Spain’s grid collapse to its heavy reliance on unreliable wind and solar power, declaring, “It just defies physics. You can't run an electrical grid with just intermittent power. You cannot run with something that is based on intermittent, which is the definition of solar or wind, because the sun doesn't shine at night, and the wind doesn't blow every day.”

Burgum didn’t mince words, warning that America is barreling toward the same disaster. “We became dangerously close to that right now. We've got parts of our country that are at risk for those same kind of—what I'll call the Biden brownouts and blackouts—to happen,” the Trump official told Friedberg.

Burgum also blasted the administration’s obsession with over-subsidizing flaky renewable energy while slapping punishing regulations on dependable coal and nuclear power. Burgum argued these misguided moves, all in the name of “saving the planet,” are recklessly jeopardizing America’s energy security. “All we're doing is potentially putting our own country at risk,” he stressed, calling for an immediate pivot to secure a robust grid to fuel the Trump administration’s economic goals—especially as China races ahead with its aggressive energy expansion.

Tyler Durden Thu, 06/26/2025 - 20:30

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