Individual Economists

"It's All So Tiresome": UK's Social Media Ban Trudges Ever Onward

Zero Hedge -

"It's All So Tiresome": UK's Social Media Ban Trudges Ever Onward

Authored by Kit Knightly via Off-Guardian.org,

The UK government’s “consultation” on social media harm is over, and – brace yourselves – it turns out they’re going to have to do something about it.

I know, I was shocked too.

The main talking point is that “social media is like cigarettes”. Everyone is saying that, it’s the meme of the day.

It’s a sentiment originally taken from a new report submitted to the consultation by the Academy of Medical Royal Colleges.

Titled “Growing up in an online world”, it contains this hilarious line in the foreword:

…there is, I think, an overwhelming consensus that excessive screen time can harm children and young people and we need to call this out unflinchingly rather than passively wait for someone else to prove causation”.

Which is a pretty neat summary of how our political system works in general, and certainly in this case: We don’t know if there’s even a problem yet, but by God we’re gonna do something about it.

That the something they end up doing makes them rich and powerful is just one of the curious coincidences tyrants can always rely on.

{Sidenote: This morning the BBC had “Overwhelimg consensus” in their headline on this story, but at some point the absurdity of that quote was realised, and the headline changed. Now there’s this disclaimer near the end: “There is no consensus among the wider scientific community that screen time overall is harmful to children.” Funny stuff.}

Elsewhere, the report wails about “a wave of radicalized children” who pose “a real risk to society”, and calls social media “an incredibly powerful and uncontrolled commercial detriment to health”.

In a similar vein, The Guardian is warning of a “tsunami of harm”, and has assembled an all-star cast of interested parties to talk up the scariness of social media meanness.

After meeting with “bereaved parents” earlier today, Keir Starmer has “vowed to take action”.

His potential rival for the leadership has been even more vocal. Political eunuch and leadership hopeful Wes Streeting is all over this, campaigning hard to be the next disposable suit full of bugger all to “lead the country”:

He thinks a ban should be “just the start”:

Social media should be treated like tobacco – it’s extremely addictive, bad for our health, and big tech is borrowing the big tobacco playbook to avoid regulation. We’ve got to give our children their childhood back […] A ban for under-16s must be the start, not the end […]We have given the pen to tech moguls to write our future for us. It’s time to take the pen back.”

Streeting is an idiot whose ambition outweighs his intellect by a factor of ten, and who clearly doesn’t understand the rules of the game he’s playing.

Some political handler behind the scenes probably told him to go hard on this issue because it will make him look tough and assertive, but the likely truth is he’s being wheeled out as the extreme option so a “sensible middle ground” option – probably Andy Burnham – can enforce “common sense policies”.

What will those policies be? It doesn’t really matter, but we’ll get to that.

Technology Secretary Liz Kendall, notable only for garnering less than 5% of the vote in the 2015 leadership election, is out there promising “action”:

…they haven’t decided what “action” yet, exactly but it’s definitely going to happen.

The Guardian has a handy list to choose from, including but not limited to:

– social media bans
– “digital curfews”
– “function limitations”
– age gating “addictive features”
– protecting children from personalised algorithms
– enforcing screen time limits.

Which one will it be?

Well let me answer that question with another question – Who cares?

The powers that be certainly don’t.

This is very much an “any colour you want so long as it’s black” situation.

Choose an outright ban – “Great, please submit your ID to prove you’re over 16 and exempt from the social media ban.”

Choose screen time limits – “Great, please submit your ID to prove you’re over 16 and exempt from screen time limitations.”

Choose digital curfews – “Great, please submit your ID to prove you’re over 16 and exempt from the digital curfew.”

Since all the proposed measures rely on age verification for enforcement, they all achieve the end goal: No more online anonymity, for kids or adults alike.

Debating the list is pointless, and making a choice counterproductive. It’s like choosing the colour of your electric chair: It makes no difference to the end result, but your entirely cosmetic choice lends tacit approval of the whole process.

We all know where this is going: Age gating everything, everywhere and then – eventually – digital ID.

It’s just…

…and you’re left wondering, who is this even for?

What is the point of this worn-out, unenthusiastic propaganda?

We know what they’re going to do, they have said they’re going to do it, and still they feel the need to play out this performative umming and erring.

Just get on with it.

All the people who don’t believe them will NEVER believe them, and all the poor fools who do believe them will always believe them.

So why carry on this absurd pretense?

It’s like when you’re watching a really dull movie – one that has telegraphed its “clever twist” in the first ten minutes – but is still insisting on dragging out the run time for two more hours of what the writers evidently consider skillful foreshadowing.

Or when you get a call from an unknown number, and some eager breathless voice announces “this is not a sales call”, before launching into a fifteen minute speech about double glazing or solar panels, and you’re just waiting for a pause long enough to say “no thanks”, and hang up.

It is a sales call, and you’ve known that from the beginning, and they know you know, but they can’t stop talking because then you’ll leave. They have to keep talking because they know you’re not listening.

So maybe that’s the answer. Maybe they can’t take a breath because people will hang up.

Tyler Durden Sun, 05/31/2026 - 08:10

More Mystery Drone Incidents In EU Skies As Putin Mocks: "The Russians Are Coming!"

Zero Hedge -

More Mystery Drone Incidents In EU Skies As Putin Mocks: "The Russians Are Coming!"

Flights at Germany's Munich Airport were once again temporarily suspended on Saturday after a drone sighting was reported, eliciting a response from a large number of police and security services personnel.

Euronews reviews in the wake of the incident, which ended with the key European hub resuming regular operations after no UAV was found or identified, "Munich Airport closed twice within 24 hours in October following suspected drone sightings."

This is the latest in a months-long spate of similar air traffic disruptions due to mysterious reported drone incursions, with European officials frequently voicing suspicions of a Russian sabotage and disruption campaign of EU airspace.

Getty Images/Bloomberg

But the biggest incident this week happened in Romania, where local officials described that during the Russian military's assault on Ukraine Thursday night, a Russian drone slammed into the residential building in the southeastern city of Galati - resulting in an explosion and a fire that injured two people.

The Romanian Foreign Affairs Ministry condemned the "grave and irresponsible escalation from Russia" while further declaring it has issued formal request for more anti-drone defense measures from NATO.

"Romania has informed allies and NATO's secretary-general about the circumstances and requested measures to accelerate the transfer of anti-drone capabilities to Romania," the ministry said.

While Romania and other countries which border Ukraine have witnessed 'errant' drones and missiles come across the border before, this was the first time Romania in particular has suffered casualties as a result of a projectile hitting a densely populated city or area.

President Putin himself has weighed in, demanding that forensic proof that this was indeed a Russian drone - and not a Ukrainian one - be handed over to the Kremlin for an investigation.

He also used the opportunity in Friday remarks to highlight that Russia is always blamed for any and all drone incursions into European airspace due to Russiaphobia. Putin said according to TASS:

Ukrainian drones have previously entered the airspace of various countries, and initial reports consistently claimed it was "a Russian attack," President Vladimir Putin said in response to a TASS question about the drone incident in Romania.

"We know that Ukrainian drones have flown into Finland, Poland, and several Baltic states. The initial reaction was exactly the same as it is now in Romania. 'Oh no, the Russians are coming, it’s a Russian attack!'" Putin recalled.

While the Russian leader was being deeply ironic with his 'the Russians are coming' comment, it is true that just earlier this month NATO jets were scrambled over Estonia and shot down an errant Ukrainian-origin drone which had drifted into Baltic/EU airspace.

"We apologize to Estonia and all our Baltic friends for such unintended incidents," a Ukrainian government statement had acknowledged. "We have been and remain in close cooperation through our specialized institutions to get to the heart of the matter in each case and seek ways to prevent them, including through the direct engagement of our expert groups."

The Ukrainian Foreign Ministry then deflected, calling attention to Russian actions: "Moscow does this on purpose, together with intensified propaganda," it said.

As for the spate of mystery UAV sightings over Northern and Western Europe, it's anyone's guess as to the origins. Some pundits have suggested these are merely irresponsible hobbyists, or else pranksters. However, the reality of projectiles entering neighboring countries as a result of the Ukraine war is much more serious, and a significant threat to these populations.

Tyler Durden Sun, 05/31/2026 - 07:35

10 Sunday Reads

The Big Picture -

Avert your eyes! My Sunday morning look at incompetency, corruption and policy failures:

• Let There Be Luce: The Electric Ferrari Is Finally Here: Wired’s first look at the Ferrari Luce — the EV the marque kept delaying. Performance numbers, sound design, and the open question of whether Ferrari resale survives a powertrain swap. (Wired)

• “Seriously the best boss ever”: inside the world of Jeffrey Epstein’s assistant: A Guardian long-read on Lesley Groff, the assistant who scheduled Epstein’s life for two decades. The “I had no idea” defense rendered, in detail, completely impossible. No one’s name appears in the Epstein files more than that of Lesley Groff, his assistant. Reading through the thousands of emails, a troubling question arises: what did she know? (The Guardian)

• Tomatoes become latest symbol of America’s affordability squeeze: Tomatoes, ubiquitous in everything from fast-food burgers to haute cuisine, are taking on a new role beyond the plate: A nagging reminder of rising costs. Prices for those red orbs have soared more than any other food product over the past year to cement a spot as one of the consumer headaches du jour. AP on how Mexico tariffs landed straight on the supermarket tomato bin. The first-order story everyone said wouldn’t happen, happening on schedule. (Associated Press)

• Stablecoins Are Private Money. That’s Why They’re a Risk to the Economy. Financial innovations often lead to upheaval and instability. Despite new regulations, those risks persist with stablecoins. Financial innovations often lead to upheaval and instability. Despite new regulations, those risks persist with stablecoins. (Wall Street Journal)

• When “survival of the fittest” justified monopolies and the slow death of democracy: Big Think excerpts a new book on how Gilded Age robber barons used Spencerian Darwinism to justify their consolidation — and how the present rhymes more than it should. (Big Think)

• The High-Seas Black Market That Keeps Iran’s Illicit Oil Flowing: WSJ on the shadow tanker fleet — flag-of-convenience swaps, AIS spoofing, ship-to-ship transfers — that keeps Iranian crude moving despite sanctions. The sanctions-versus-physics scoreboard. Despite U.S. sanctions, the regime has managed to sell billions of dollars in crude to China using a clandestine network of aging tankers. Our reporters paid a visit. (Wall Street Journal)

• The Wrong Stalker: He was an addict. She was his counselor. Who was preying on whom?: A SF Chronicle investigative project that resists every easy frame. The kind of long-form local-paper journalism people keep saying is dead while a few outlets quietly keep doing it. (San Francisco Chronicle)

• This is what happens when you defund Ebola prevention: Shortly after brandishing his infamous chainsaw on a conservative conference stage last February, Elon Musk attended a Cabinet meeting where, giggling slyly, he admitted to having “accidentally canceled” Ebola prevention in his haste to obliterate the US Agency for International Development (USAID). “We restored the Ebola prevention immediately,” he added coolly at the time, “and there was no interruption.” That claim has since proven to be disastrously, profoundly untrue. (Yahoo News)

• MAGA Hogs at the Government Trough: The American Prospect cataloging the federal contracts now flowing to MAGA-aligned firms. The grift isn’t hidden anymore; it’s the line-item. (The American Prospect) see also The year Trump broke the federal government: A long, interactive Post piece on what DOGE-era cuts have done to federal capacity. The bill comes due gradually, then all at once. (Washington Post)

• Oily Sludge Is Flooding Their Dream Home. Oklahoma Regulators Say They Can’t Help: ProPublica on a family whose Oklahoma property is being slowly destroyed by neighboring oil-and-gas waste — and the state agency that exists to address exactly this declining to act. Regulatory capture in one specific human story. The Merediths were forced to abandon their house after it filled with black goo, reaching gas concentrations at explosive levels. Despite evidence of oil and gas pollution, the state “wanted to act like it would go away,” the family says. (ProPublica)

Video of the day: The 911 Is the New Rolex: Porsche’s Dangerous Scarcity Play

Be sure to check out our special Masters in Business this week, Remembering Jonathan Clements with Bill Bernstein and Jason Zweig. The two recall Clements’ impact on the investor community; they discuss his posthumous book, “Money and Me.”

 

The 2026 Races That Could Determine Senate Control

Source: Wall Street Journal

Sign up for our reads-only mailing list here.

~~~

To learn how these reads are assembled each day, please see this.

 

The post 10 Sunday Reads appeared first on The Big Picture.

The Nocebo Effect: The Real PsyOp Behind Fake Pandemics

Zero Hedge -

The Nocebo Effect: The Real PsyOp Behind Fake Pandemics

Authored by Mike Adams via Natural News.com,

The Nocebo Effect Is the Hidden Engine of Modern Pandemic Narratives

When authorities tell you to be afraid of a virus, your mind can make symptoms real, even when no pathogen exists. This is not conspiracy theory; it's documented science, and it has been weaponized against the public for decades. The nocebo effect -- the evil twin of the placebo -- is the key to understanding how pandemics are manufactured as psychological operations. The word "nocebo" means "I will harm" in Latin, and that's exactly what this phenomenon does: it turns negative expectations into real physical harm.

The idea that a suggestion can make you sick is as old as medicine itself, yet it has been deliberately ignored by the scientific establishment because it threatens the entire foundation of the infectious disease model. Research on the nocebo effect in the context of COVID-19 shows that the pandemic produced a "nocebodemic effect" characterized by mass negative interpretation of health services and medical treatments. When combined with the fear narrative pumped out by governments and media, this creates a perfect storm of psychogenic illness that requires no actual virus to produce symptoms. The institutions that profit from sickness have learned to weaponize this effect on a scale never seen before.

How the Nocebo Effect Works: Mind Over Matter, the Dark Side

The placebo effect demonstrates that belief can heal, but its dark twin shows that belief can also harm. In the book "Awaken the Power Within," hypnotist Del Hunter Morrill explains that suggestions create our belief systems and cultural mores, and they affect how we think, respond, and act. When suggestion is carefully engineered by those in power, it can produce real physiological effects. Consider the documented case of a patient who convinced himself he was dying after a mistaken last rites -- and actually died. That's the power of the nocebo response.

Modern research confirms that negative expectations about treatments can cause patients to experience side effects that have no biological basis. A 2017 study in The Lancet concluded that some patients experiencing adverse events while taking statins were actually suffering from a nocebo effect: when patients and doctors were aware of the statin use, reporting of adverse events was much higher than when they were unaware. The mechanism is well understood: the brain's expectation of harm triggers the release of neurotransmitters and hormones that can produce real pain, fatigue, and inflammation. The pharmaceutical industry and governments have weaponized this by flooding the public with constant warnings about symptoms, deaths, and "variants" that prime the population for mass nocebo responses.

COVID-19: The Greatest Nocebo Operation in History

The COVID-19 pandemic stands as the most extravagant mass nocebo operation ever conducted. The docuseries "The End of COVID" argues that the Wuhan coronavirus was not a real viral pandemic but a manufactured crisis, challenging the idea that diseases spread via viral transmission. My own reporting has exposed that PCR tests are fraudulent -- they cannot diagnose infection and were used as theater to convince people they were sick. The CDC's germ theory of disease collapses under scrutiny, as no pure virus has ever been isolated and shown to cause contagious illness. What we experienced was social contagion of fear, not viral contagion.

Yet there was a real toxic element: as I have repeatedly stated, chemical agents released by the Department of Defense caused genuine symptoms in some populations, but the narrative blamed a fictional virus. Then came the lethal experiments in hospitals -- using ventilators and remdesivir -- that killed patients for profit while calling it COVID. Finally, the mRNA injection was promoted as a "vaccine" but functioned as a biological weapon, with injuries later rebranded as "long COVID." The interview with Alec Zeck and Mike Winner makes clear that everything about the supposed viral evidence -- genome sequences, PCR tests, electron micrograph images -- is built upon circular reasoning and logical fallacies.

The real pandemic was not COVID; it was a pandemic of manufactured fear designed to trigger nocebo sickness on a global scale.

The Obedience Test and What It Reveals About Society

The lockdowns, mask mandates on children, social distancing decals on floors, and forced isolation were never about health. They were irrational theater designed to test how far people will go to obey authority. As I noted in an interview with Samantha Bailey, the narrative surrounding infectious diseases and pandemics provides governments and organizations like the CDC with significant control over people's lives through measures such as lockdowns, social distancing, and mandatory vaccinations. The fear generated by these narratives is a powerful tool that justifies extensive actions even when not supported by robust scientific evidence.

Throughout the COVID nocebo psyop, the world proved itself unbelievably gullible. In the span of a few months, billions of people accepted the mass suspension of civil liberties, economic destruction, and the injection of experimental gene therapies into their arms. The trauma of lockdowns and mask-wearing in schools is likely to haunt those who lived through it for many years to come. Yet the controllers are already planning the next rollout. As I warned in an interview with Thomas Renz, they are working on the next pandemic -- likely to appear around the time the WHO treaty is fully implemented. The names will change -- "Smurf virus," "Hantavirus," or something else -- but the pattern will remain the same: manufacture fear, trigger the nocebo response, demand compliance, and use the chaos to push depopulation and digital surveillance agendas.

Breaking the Spell: How to Say No to Nocebo and Protect Your Health

Your best defense against this weaponized mind-control system is simple: reject authority and embrace skepticism. Do not let fear dictate your choices. The nocebo effect is powered by negative expectations, so starve it by refusing to consume the fear porn of the corporate media. As noted in psychological research, the nocebo effect occurs when the treatment context generates negative expectancies that lead to worse health outcomes [13]. If you refuse to participate in the narrative, you refuse to give it power over your body.

I have lived this approach for decades. I take no vaccines, no prescription medications, and I avoid hospitals like the plague. Instead, I rely on natural medicine -- vitamin D, zinc, ivermectin, medicinal herbs, and real food. I eat organic, avoid processed toxins, and spend time in sunlight. My health has never been better, while those who trusted the system -- who lined up for every booster, who wore masks religiously, who cowered in fear -- have suffered and died in alarming numbers.

The principles of self-reliance, natural healing, and critical thinking are not just lifestyle choices; they are survival mechanisms in a world that is actively trying to make you sick through suggestion. Say no to nocebo. Refuse to participate in the sorcery of mass suggestion. Break the spell, and you will live longer, freer, and healthier than you ever imagined possible.

Tyler Durden Sat, 05/30/2026 - 23:20

Seattle To Declare "State Of Emergency" To Protect Transgender Refugees?

Zero Hedge -

Seattle To Declare "State Of Emergency" To Protect Transgender Refugees?

The ultimate claim to victimhood is the claim that a group of people are "refugees" from mass persecution or "genocide."  The political left covets this victim status more than anything else because, within first world liberal societies, refugees have immediate political capital and access to easy money.  Within every leftist narrative there is an agenda for power and a life without adult responsibility.

It is perhaps ironic that thousands of progressive activists and LGBT advocates are leaving red states over imaginary oppression after they spent years attacking conservatives for escaping blue states over very real medical tyranny.  At least conservatives never called themselves "refugees." 

Leftists specifically believe their rights are being violated in red states because conservative governments won't allow them to mutilate their children with hormone therapy and sex change surgeries.  This nightmare trend, which is increasingly proven by science to have a detrimental effect on the minds and health of the people who undergo gender therapies, is still heavily protected in leftist havens like Seattle.

For reasonable and sane people still living in the Emerald City, relocation should be a top priority because the golden hordes are making the great northwest their home base.  Seattle's new "democratic socialist" (communist) mayor Katie Wilson is more than happy to oblige the mentally ill mob clamoring for access.  The problem is, as the crazies move in, all the businesses are moving out.

This conundrum leaves Wilson's poorly managed city in a financial bind.  New transgender resident are calling themselves "refugees" and demanding access to tax based subsidies in order to survive.  One would think they could simply get jobs like everyone else.  But, much like third world migrants, everywhere these people go they are always jobless and in dire need of handouts. 

The Seattle LGBTQ Commission has requested that Mayor Katie Wilson declare a civil state of emergency due to an influx of transgender and queer individuals relocating from conservative states, which is straining local housing, food, and mental health resources.

National data shows that 84% of transgender and nonbinary people have made major life decisions, such as relocating, since November 2025 due to state policies.  This mass influx is means some Seattle support organizations will face a depletion of resources by the end of the summer.

In response, the mayor is launching an interdepartmental team to assess community needs by August.  Under Seattle Municipal Code and state law, the mayor can proclaim a civil emergency which grants temporary powers.  These include entering contracts and spending without standard bidding, budgeting, or permitting delays. Accessing or reallocating city contingency/emergency funds. And, directing personnel and resources more flexibly.

However, the most likely agenda behind an emergency declaration would be to push for federal funds, which, of course, Seattle will not get. 

The city is facing a massive budget shortfall of half a billion dollars for 2026 and 2027, which means numerous programs and employees will have to be cut.  Katie Wilson has driven away a number of corporate taxpayers and more are getting ready to leave.  This has recently forced the mayor (who initially said good riddance to big business) to change her communist tune and take more diplomatic approach to corporations in the region.

Unfortunately for her, she has made her bed with a gaggle of mentally disturbed fanatics; they want their handouts and they want to destroy major companies paying for those handouts.  As this trend continues it is likely that Seattle faces severe economic crisis, or even collapse. 

On the bright side, the relocation of hundreds of thousands of trans activists means less problem children for red states.  Given that these people seem to cause chaos wherever they go, it's better that they congregate in a place like Seattle and drive each other insane rather than spread out and plague the daily lives of normal people.    

Tyler Durden Sat, 05/30/2026 - 22:45

Shortages And Rationing Loom As Global Oil Reserves Fall At Fastest Rate In History

Zero Hedge -

Shortages And Rationing Loom As Global Oil Reserves Fall At Fastest Rate In History

Authored by Michael Snyder via The Economic Collapse blog,

No matter what happens now, the world is facing a very painful energy crisis. Let’s be as wildly optimistic as we possibly can and assume that Iran agrees to allow free passage through the Strait of Hormuz with absolutely no tolls or restrictions starting tomorrow. Before normal traffic through the Strait could resume, Iran would first have to remove all of the mines that they have laid in the Strait, and that could take months. Once all of the mines have been removed, it will take the tankers that are currently trapped in the Persian Gulf weeks to arrive at their destinations. Moving forward, Persian Gulf countries will be exporting much less oil and natural gas for the foreseeable future because of all the oil and natural gas infrastructure that was damaged or destroyed during the war. It will take years before all of that infrastructure is fully repaired and rebuilt. Meanwhile, global supplies of oil and natural gas will be very tight for an extended period of time..

What I have just laid out for you is the best case scenario.

Ultimately, what we end up facing could be so much worse.

Over the past couple of months, global oil reserves have been falling at the fastest rate ever recorded…

Record inventory draw: Global oil stocks have fallen by 246 million barrels in March-April, with draws in May hitting a record 8.7 million barrels per day.

Hormuz closure impact: The Strait of Hormuz shutdown has cut off 25% of the world’s seaborne oil, compounding already low reserves and boosting prices.

US price outlook: Analysts expect U.S. gasoline prices could reach $5 this summer unless flows resume, with relief unlikely before autumn.

Needless to say, this is not sustainable.

Here in the United States, the strategic petroleum reserve has been dropping at a record-breaking pace…

The SPR’s most recent drawdown, covering the week ended May 22, shows a drop of 9.1 million barrels, leaving the reserves at 365 million barrels. The previous weekly drawdown, covering the week of May 15, was its steepest on record — the U.S. withdrew 9.92 million barrels from the SPR then.

Before that record-breaking decline, the largest weekly drop in the SPR’s history occurred in the week ended Oct. 7, 2022, when the reserves dropped by 7.41 million barrels, and was connected to the war in Ukraine.

Commercial oil inventories are being rapidly depleted as well.

At some point the tanks are going to hit minimum operating levels and we are going to have an enormous crisis on our hands.

The chief economist at Capital Economics is projecting that commercial oil inventories “could reach critically low levels by the end of June”…

“At the current pace of drawdown, commercial oil stocks could reach critically low levels by the end of June,” Neil Shearing, chief economist at Capital Economics, wrote in a research note on May 18.

If supply conditions don’t improve soon, “prices could rise sharply,” Shearing warned.

Jeff Currie is warning that Asia is already very close to minimum operating levels, and he is projecting that the U.S. could potentially be dealing with shortages in July…

Oil markets are nearing minimum operating levels in Asia, with Europe likely next and the U.S. potentially facing shortages by July, said veteran market strategist Jeff Currie on Monday, underscoring the global energy shock due to the Iran war.

Headline global inventory figures can be misleading as much of the oil stored worldwide cannot be used immediately, said Currie, Carlyle’s chief strategy officer of energy pathways and co-chairman of Abaxx Markets.

A large portion of that oil is needed to keep pipelines and storage systems running safely, leaving only a smaller share available for the market. Asia is already close to these so-called “minimum operating levels,” Currie told CNBC on the sidelines of the UBS Wealth Conference in Singapore.

This is really happening.

The Australian government is so concerned about what is ahead that they have already prepared a plan to limit the amount of fuel each vehicle can purchase per day when that becomes necessary…

Contained in documents obtained by Guardian Australian under freedom of information, one option the government had at its disposal to arrest a local fuel supply shortage would be to impose a “maximum transaction value per vehicle per day” – a rationing rule which would limit how much fuel a single vehicle can buy at a service station over a 24-hour period.

If the Strait of Hormuz does not get reopened, we could eventually see similar measures get implemented all over the world.

Of course rationing of motor oil has already started…

Nissan is rationing 5W-30 and 0W-20 Nissan Genuine Motor Oils. Starting this week, Nissan’s stock of these oils has dropped by 30% year-on-year. With only 70% left in the tank, the brand is already taking precautions, sending memos to dealers to manage its stock during the shortage.

The brand will prioritize certain owners, such as those claiming “warranty, extended warranty, recall repairs, goodwill, and prepaid maintenance,” according to Kim Less, the vice president of aftersales at Nissan Americas, in the bulletin addressed to Nissan dealers.

“Given these constraints, it is critical to prioritize the use of Nissan Genuine 0W-20 (and 5W-30, where applicable) for warranty, extended warranty, recall repairs, goodwill, and prepaid maintenance,” Kim Less, vice president of aftersales, Nissan Americas, said in the May 15 bulletin to Nissan dealers.

I would encourage my readers to stock up on motor oil while they still can.

Supplies are only going to get tighter from this point forward.

The pharmaceutical industry is also very dependent on raw materials from the Middle East, and one pharmacist is claiming that the current drug shortage is the “worst I’ve ever known”…

Some people living with heart conditions, stroke risks, eye infections and bipolar disorder are among those unable to get the medications they rely on, a pharmacist has said.

Graham Jones, who owns Shrivenham Pharmacy in Oxfordshire, said vital medication like aspirin was harder to obtain because of surging global prices and government funding which was not keeping up with costs.

Jones said the current medication shortage was the “worst I’ve ever known”.

Personally, I am even more concerned about the global fertilizer shortage.

The UN is telling us that we could be facing a worldwide food crisis that could last for “years”…

The de facto closure of the Strait of Hormuz risks a global food crisis that could extend for years, the UN warned.

Global fertilizer companies have slashed production over shortfalls of sulphur, required to make many farming inputs; about half of the global supply passed through the strait before the Iran war.

As a result, farmers are likely to produce lower yields in coming harvests. Richer economies like those in Europe are mulling building fertilizer stockpiles, reducing duties on imports, and onshoring production, but poorer ones have limited room to adapt.

I want to be very clear about what lies in front of us.

No matter what happens now, there will be shortages and rationing.

It is just a matter of how intense they will be and how long they will last.

Needless to say, the outlook for the global economy in the months ahead is not promising at all.

We really do have a major crisis on our hands, and it will become a historic nightmare if the Strait of Hormuz does not get reopened soon.

Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.

Tyler Durden Sat, 05/30/2026 - 22:10

Three Debates Americans Have Had For 250 Years

Zero Hedge -

Three Debates Americans Have Had For 250 Years

Authored by Lawrence Wilson via The Epoch Times,

George Washington rode west from Philadelphia in command of 13,000 troops on a mission that would test his leadership unlike any previous campaign.

These men were not soldiers in the Continental Army. They were citizen militiamen—forerunners of the National Guard—called up from Virginia, Pennsylvania, Maryland, and New Jersey. And Washington was no longer simply a general. He was president of the United States.

The year was 1794, and Washington had made one of the most fateful decisions of his presidency: to use armed force against fellow Americans.

Congress, desperate for revenue to pay war debts, had enacted a tax on whiskey. Grain farmers in Western Pennsylvania saw the tax as immoral and unjust.

Protestors attacked revenue agents, destroyed the property of tax-paying farmers, and fired shots that killed a local militiaman.

Growing bolder, they fashioned banners on “liberty poles” with slogans like “Equal Taxation and no Excise” and “Liberty or Death.”

For two years, Washington searched for a peaceful resolution. But when 5,000 rebels gathered outside Pittsburgh, vowing to take the city, he knew the time for action had come.

In the end, the Whiskey Rebellion was anticlimactic, resulting in no further violence.

Yet more than 200 years later, Americans still strenuously disagree on basic questions of government.

When is a president justified in mobilizing the National Guard? At what point does a protest become an insurrection? What counts as free speech?

Some fundamental issues were settled at the nation’s founding, a panel of scholars told The Epoch Times. But more were left unsettled. And Americans continue to debate those same issues today.

Unanswered Questions

America will be governed by the people. The Declaration of Independence established that, and the Constitution ratified it.

Abraham Lincoln later distilled the American creed to just 10 words in his Gettysburg Address: “government of the people, by the people, for the people.”

But what does that mean?

“The question is: Who are the people?” David A. Bateman, an associate professor of government at Cornell University, said.

The first states couldn’t agree on the polarizing issue of slavery, so they omitted a definition of citizenship from the Constitution, Bateman told The Epoch Times. Citizenship wasn’t defined until 1868, when the 14th Amendment was ratified after rigorous debate.

“The Framers wrote a very brief, cogent, succinct document, and left a lot unsaid,” J. Edwin Benton, a professor of political science and public administration at South Florida University, said.

“They intended that future generations could take these basic precepts and expand on them,” Benton told The Epoch Times.

Here are three things Americans still argue about.

How Much Power Do Presidents Have?

President Donald Trump mobilized the Illinois National Guard in October 2025, saying federal facilities there had come under coordinated assault by violent groups intent on obstructing immigration law enforcement.

Trump cited a federal law authorizing the president to deploy the National Guard to suppress an invasion or revolt, or to enforce the law when regular authorities can’t.

Two days later, Illinois Gov. JB Pritzker and others filed a federal lawsuit, arguing Trump’s order infringed on the sovereignty of Illinois.

The Supreme Court agreed, saying the administration failed to identify a source of authority that would allow the military to execute the laws in Illinois.

Trump is not the first U.S. president to be accused of abusing his power.

Debates about the limits of presidential authority go back to the very beginnings of the presidency, Matthew Wilson, an associate professor of political science at Southern Methodist University, told The Epoch Times.

“Hamilton and Jefferson had very different ideas about the centrality and desirability of executive power in our political system, and that continues to be a flash point,” Wilson said.

Hamilton favored a stronger executive. Jefferson preferred a weaker role. A hundred years later, Theodore Roosevelt and William Howard Taft continued debating the same issue.

Roosevelt thought all the white space in the Constitution should be filled by the president.

“It was not only [a president’s] right but his duty to do anything that the needs of the Nation demanded unless such action was forbidden by the Constitution or by the laws,” Roosevelt wrote in his autobiography.

Taft held the opposite view. He read the Constitution like a pharmacist reads a prescription.

“The President can exercise no power which cannot be fairly and reasonably traced to some specific grant,” Taft wrote. Each right had to be spelled out in the Constitution or in an act of Congress.

Most presidents have sided with Roosevelt. Many have been checked by Congress or the Court, and widely criticized by their opponents.

Presidents Lincoln, Franklin Roosevelt, Truman, Nixon, Clinton, George W. Bush, Obama, and Biden all also joined Trump in having their executive actions blocked by the Supreme Court.

When Jefferson pushed the boundaries of the office by making the Louisiana purchase without first getting congressional approval, John Adams said Jefferson had become the most federalist of the Federalists. That was meant as an insult, implying that Jefferson had abandoned his own principles and switched sides.

Andrew Jackson was censured by Congress for manipulating fiscal policy after moving funds from the national bank to state banks.

Critics called the 16th president “King Lincoln” for his expansive use of power during the Civil War, including suspending habeas corpus and issuing the Emancipation Proclamation.

Opponents of Franklin D. Roosevelt’s New Deal called it a “Fascist regimentation.”

“This is not just a story about Donald Trump,” Wilson told The Epoch Times. “This is a much longer-running pattern in American history.”

What’s the Role of the Supreme Court?

The Supreme Court ruled on Dobbs v. Jackson Women’s Health Organization in June 2022, overturning what had been seen as a right to abortion in the United States.

Protesters gathered in the sweltering heat to voice their displeasure.

Sen. Ron Wyden (D-Ore.) later called for the Court to be expanded to 15 members “in the wake of recent rulings upending decades of precedent.” Others have called the current panel a “post-legitimacy court.”

Yet 50 years earlier, Roe v. Wade had sparked an outcry by overturning longstanding state laws prohibiting abortion.

Then-Chief Justice William Rehnquist said the decision smacked of “judicial legislation.” Others labeled it judicial activism.

Justice Byron White said the Court had simply fashioned “a new constitutional right for pregnant mothers.”

Americans have disagreed with Supreme Court decisions for centuries.

The Constitution devotes only 378 words to the Supreme Court, a fraction of that given to the other branches. Over the years, the Court has filled out that job description for itself.

For example, Marbury v. Madison established the principle of judicial review, which gives the Court the right to determine whether laws or presidential actions violate the Constitution.

Andrew Jackson refused to enforce Worcester v. Georgia in 1832. Lincoln did the same with the Ex parte Merryman decision in 1861.

Franklin Roosevelt proposed adding six justices to the Court in 1937—a move widely seen as an attempt to change its ideological balance.

More recently, Joe Biden, as president, called for Congress to impose term limits on Supreme Court Justices.

The Supreme Court was supposed to be the quiet branch of government, according to David Schultz, a professor of political science and legal studies at Hamline University.

“To quote Alexander Hamilton in The Federalist Papers, the Supreme Court would be the ‘least dangerous branch,’” Schultz told The Epoch Times.

But the Court often has to deal with the white space in the Constitution, and that’s nearly always controversial, he said.

How ‘Free’ Is Free Speech?

Riley Gaines, a former collegiate athlete and advocate for reserving women’s sports to biological females, was invited to speak at San Francisco State University in April 2023. Protestors disrupted the event and then accosted Gaines as she tried to leave campus.

A month earlier, a conservative federal judge’s talk at Stanford Law School was interrupted and cut short by student protestors. Judge Kyle Duncan had been invited to speak by the campus Federalist Society. Turning Point USA and Heritage Foundation decried those incidents as attacks on free speech.

In April 2024, Asna Tabassum, valedictorian of the graduating class at the University of Southern California, was not permitted to speak at commencement due to safety concerns. The cancellation came after pro-Israel groups alleged that Tabassum had promoted anti-Semitic views and advocated for abolishing the state of Israel.

In 2025, New York University and Massachusetts Institute of Technology disciplined student speakers who made unauthorized remarks at commencement speeches. Both students characterized action of war in the Gaza Strip as genocide. The Council on American-Islamic Relations and human rights group PEN criticized the universities’ actions as threats to free speech.

The very concept of free speech was sparked by an event similar to our contemporary clashes over free expression.

“The idea carries over from the trial of John Peter Zenger,” Schultz said.

Zenger was tried for libel in 1733—more than 40 years before the Declaration of Indepencence—after printing a newspaper critical of the New York governor. The jury acquitted Zenger.

That established the freedoms of speech and the press that were later included in the Constitution.

But there are some limits, said Ken Kollman, a professor of politics at the University of Notre Dame.

“Courts have long drawn lines between speech that is constitutionally protected and speech that is not,” Kollman told The Epoch Times.

Drawing those lines has often sparked controversy.

In 1798, with America on the brink of war with France, Congress passed the Alien and Sedition Acts.

These laws authorized the president to deport non-citizens or to imprison them during wartime. Another law made it a crime to “print, utter, or publish ... any false, scandalous, and malicious writing” about the government.

Bateman sees echoes of this today in the deportation of activists with unpopular views.

“Everybody supports free speech in principle,” Wilson said. “The question is: who is willing to support it in practice when it becomes difficult or inconvenient or offensive?”

Signs of Good Health

Is free speech working well today? No, says Kollman. “We are living in a moment when the once-shared notion of protecting open and free debate is being eroded by our partisan [and] other social divisions.”

But we need robust debate, the scholars agreed. The future of the country depends on it.

“Encouraging, fostering, and protecting institutions and processes that encourage open and free debate are all vital for the survival of a liberal democracy,” Kollman said.

“Embrace conflict. Embrace heated, unconstrained argument. And stop trying to impose an etiquette about what it should look like—whose primary function is to constrain it,” Bateman said.

Said Wilson, “Americans ought to think about their responsibility as citizens.

“One of the Founders’ clear beliefs was that the Republic could survive and be healthy only if it had a virtuous, informed, and engaged citizenry.”

Tyler Durden Sat, 05/30/2026 - 21:00

Green Retreat: California Eases Carbon-Market Costs For Oil Refiners

Zero Hedge -

Green Retreat: California Eases Carbon-Market Costs For Oil Refiners

California's green-energy regime has hollowed out the state's refining and oil industry, leaving motorists paying the highest gasoline prices in the country. AAA data show the state gasoline average now north of $6 per gallon, compared with a national average of roughly $4.36 as of Saturday morning.

The result of political blowback in California over unaffordable gasoline and diesel prices at the pump is a retreat from left-wing climate policies that could offer relief to motorists, Bloomberg News reports.

On Friday, the California Air Resources Board voted to create up to $4 billion in free carbon allowances for oil refiners and other industrial polluters. This will help them more easily comply with the state's greenhouse gas limits under the Cap-and-Invest program.

Earlier this year, CARB proposed further tightening emission limits by removing 118 million allowances from the market to keep the state on track to meet its 2030 climate targets. For refiners, that would mean further reducing emissions or paying more for allowances, with mounting costs already pushing them out of the state. 

The move will help contain gasoline prices at the pump and prevent refiners from leaving the state, especially after energy disruptions in the Gulf region pushed California gasoline prices above $6.

Take US oil giant Chevron, which recently warned that California is careening toward an energy crisis because of the Iran war, and that the company may quit refining oil in the state unless officials roll back taxes and regulations.

California is highly exposed to the disruption rippling through commodity markets, as it imports about 20% of its refined fuels from Asia. But as extensively discussed here, oil product shipments from China, South Korea, Singapore, and elsewhere have been disrupted, leaving Asian nations struggling to meet domestic demand, let alone export to California.

Chevron’s oil refining head Andy Walz recently warned that the potential for fuel shortages in California is his worst fear: “We have refineries in Asia that are having to cut crude, and so they’re going to make fewer products,” Walz said in an interview in late March. “What if San Francisco doesn’t have the jet fuel it needs? Or Los Angeles? Or maybe gasoline?”

Since California is disconnected from the U.S. fuel-making centers of Texas and Louisiana, it is essentially an energy island.

Walz noted in March, days after the U.S.-Iran conflict broke out, that tightening California's cap-and-invest program "made no sense when you look at global tensions right now."

California's green regime has produced nothing but disastrous consequences for households, making fuel prices the highest in the nation:

There are national security implications stemming from the green regime, especially for the state with the nation's largest concentration of military personnel and national security activity.

The retreat on climate targets by state regulators is a win for consumers and the nation, as green is nothing more than inflationary and degrowth, hitting working-poor households the hardest with unaffordable gasoline and diesel prices at the pump.

Elsewhere, the US-Iran conflict has forced left-wing states such as New York, Massachusetts, and others to dial back unrealistic climate ambitions.

Tyler Durden Sat, 05/30/2026 - 18:05

Caught On Tape: Washington Nationals Official Admits To Discriminating Against Religious Player

Zero Hedge -

Caught On Tape: Washington Nationals Official Admits To Discriminating Against Religious Player

Authored by Bryan Hyde via American Greatness,

Washington Nationals Director of Community Relations Sean Hudson has been caught on camera admitting that he discriminates against starting pitcher Trevor Williams because of his Catholic faith.

The Daily Caller reports that O’Keefe Media Group has released a new undercover report where Hudson admits that the team avoids featuring starting pitcher Trevor Williams on social media because of his 2023 criticism of the Dodgers’ Pride Night.

That particular event honored a drag group dressed as nuns and performing on a crucifix that Williams called a mockery of Catholicism.

According to Fox News, in a 2025 interview with Bishop Robert Barron, Williams explained why he spoke out, saying, “Baseball stadiums should be a place where everyone feels welcomed, like 100%. We should all feel welcomed there. But that was clearly against one certain religion. If you don’t draw the line in the sand, who’s gonna do it?”

Hudson described Williams as “super Christian-Catholic” with religious tattoos, and confessed that even lighthearted social media posts—for example, ones asking “Is a hot dog a sandwich?”—avoid including Williams because he spoke out.

Hudson also admitted on hidden camera to digitally surveilling fans who attend Nationals Park, saying, “If you ever come to a Nats game, there is someone on our team who’s responsible for figuring out everything about you, given your purchasing habits, what teams you come to when the Nats play, like what teams you come, and assigning you into a bucket of people and then catering content to you.”

The Daily Caller reports that Hudson told the undercover reporter that if a team supporter accepts online cookies “we’re getting your, a plethora of your Google history.”

In the video, the Nationals executive also described himself as “very far-left leaning” and admitted that he has a “Join the Communist Party” poster in his kitchen.

After the video came to light, Hudson deleted his X account, changed his Instagram, and denied the comments when confronted.

Hudson has since been removed from the team’s front office page amid online calls for boycotts and claims of religious discrimination.

Tyler Durden Sat, 05/30/2026 - 17:30

Trump Blasts "Barack Hussein Obama Judge" After Kennedy Center Renovation Blocked

Zero Hedge -

Trump Blasts "Barack Hussein Obama Judge" After Kennedy Center Renovation Blocked

President Donald Trump lashed out Saturday after U.S. District Judge Christopher Cooper blocked the planned closure and renovation of the Kennedy Center, accusing the Obama-appointed judge of halting what Trump described as a badly needed structural and aesthetic overhaul of the performing arts venue.

In a lengthy Truth Social post, Trump said millions of dollars in marble, furniture, steel, heating, air conditioning, and other materials had been ordered or were about to be ordered for what he called a "magnificent structural and aesthetic rebuilding" of the center. He argued the building had serious problems involving rust, rot, pests, failing pipes, aging HVAC systems, and structural beams that needed replacement, making it unsafe to keep audiences inside during major construction.

Trump also attacked Cooper personally, alleging a conflict of interest involving the judge's wife, attorney Amy Jeffress, and tying the Kennedy Center ruling to broader complaints about what he called a "rigged" court system. He said the decision could force the center to remain open despite safety concerns and warned that the institution may soon close "probably never to open again."

Jeffress, according to Trump, "doesn't use the 'Cooper' name" because the couple "don't want people to know that she has a Conflict of Interest with an important Judge." He described Jeffress as "a Radical Left Democrat" who "worked as a Federal Prosecutor and Counselor to Obama Attorney General, Eric Holder," "worked behind the scenes for the January 6th Unselect Committee of Political Hacks and Thugs," represented former FBI attorney Lisa Page, and is "currently representing Sleepy Joe Biden on the release of his audio tapes." Trump claimed Jeffress is "totally wired into the Left System, from her husband down," adding that "it is impossible for me to be treated fairly."

As the Epoch Times noted earlier, Donald Trump wants to transfer all operations of the John F. Kennedy Center for the Performing Arts to Congress after a federal judge blocked a two-year closure of the venue for renovations.

"The Kennedy Center, which was going to close in early July for largescale renovations and construction due to years of neglect, decay, and poor maintenance, and which was to be transformed by the Trump Administration into the Finest Facility of its kind, anywhere in the World, is not allowed to close for these renovations, which would not be possible to properly do without such a closure," Trump wrote in a Truth Social post on May 29.

He accused Democrats of caring "more about opposing your favorite President, ME, than saving a dying Performing Arts Center," and therefore "we are going to be working with Congress to transfer this failing Institution back to them so they can make a determination as to what to do with it."

Washington-based Judge Christopher R. Cooper issued an order on May 29, which temporarily halted the name change and stopped the center from being shut down for a two-year remodel.

"The Kennedy Center's organic statute makes crystal clear that the Center is to be named for President Kennedy, and it cannot bear any other formal name or public memorial based on the Board's unilateral say-so," Cooper said.

Congress organized the center as a "bureau" within the Smithsonian Institution directed by a board of trustees, he said.

The board was given several duties, including "programming obligations," "memorial obligations" honoring the legacy of Kennedy, and general maintenance obligations, the judge said.

To satisfy these obligations, Congress "empowered the Board to do the kinds of things that boards typically do: negotiate contracts, prepare budgets, employ personnel, solicit and accept gifts, transfer property, bargain with employees, procure insurance, and issue annual reports."

The lawsuit's claim that the center's board violated its fiduciary duty in voting to close the center was "likely to succeed," the judge said.

A fiduciary duty is a duty of loyalty, care, and good faith that one party owes to another in positions of trust.

Cooper ruled that the building needed to stay open during the planned construction, which would have started after July 4.

Trump said in his May 29 statement that the building needed to be closed for renovation because it had rotting beams and parking areas that were about to collapse.

"I cannot be involved with a situation where danger to the Public is allowed to flourish in plain and open sight," Trump wrote.

"Unless I am free to do what I do better than anyone else, bring this Institution back, physically, financially, and artistically, I have no interest in continuing what could only be a hopeless journey into 'NEVER NEVER LAND.'"

Trump said the Department of Commerce will arrange a full transfer of operations, maintenance, and management to Congress.

The Epoch Times contacted the White House for additional information.

The ruling came in response to litigation initiated in December 2025 by Rep. Joyce Beatty (D-Ohio), who sued Trump and the Kennedy Center board of trustees over its renaming as the Donald J. Trump and John F. Kennedy Center for the Performing Arts. Beatty is an ex officio member of the center's board of trustees.

Trump appointed himself to the chairman of the venue's Board of Trustees after he entered his second term as president in early 2025.

The president swiftly removed and replaced the board's chairman and every single board member who did not share his vision for "a Golden Age in Arts and Culture."

The current board, which included Vice President JD Vance's wife, Usha Vance, and Fox Business anchor Maria Bartiromo - unanimously voted to rename the institution the Donald J. Trump and the John F. Kennedy Memorial Center for the Performing Arts in December 2025. Trump welcomed the name change but noted that he didn't ask for it.

The rebrand came with backlash from some in the performing arts community, as high-profit shows like Hamilton pulled out of plans to tour there.

Literary Managers and Dramaturgs of the Americas said it stood in solidarity with the Dramatists Guild and Actors' Equity Association members who cut ties with the Kennedy Center after Trump's new board took over.

The Epoch Times reached out to the Actors' Equity Association and Literary Managers and Dramaturgs of the Americas for comment on the latest development.

Matthew Vadum contributed to this report.

Tyler Durden Sat, 05/30/2026 - 16:20

Moscow Signs Military Partnership With Taliban In Full Circle Since CIA's Operation Cyclone

Zero Hedge -

Moscow Signs Military Partnership With Taliban In Full Circle Since CIA's Operation Cyclone

Via The Cradle

Russia and the Taliban-led government in Afghanistan have reached a military and technical cooperation agreement, Russian news outlet Interfax reported this week. 

The deal was concluded during the International Security Forum held in Moscow. According to the report by Interfax’s correspondent, Taliban Defense Minister Mullah Mohammad Yaqoob held talks with Secretary of Russia's Security Council Sergei Shoigu on the sidelines of the event.

Russian MoD, via X

During the meeting, Yaqoob said that engagement with Russia is important for the Taliban-led administration and that both sides have been expanding their bilateral relations. He added that Afghanistan and Russia share historic ties and that Kabul aims to maintain and strengthen those relations.

Shoigu urged western countries to release Afghanistan’s frozen assets and take responsibility for the country’s reconstruction during the event.

“We are convinced that western countries must unfreeze frozen Afghan assets, fully acknowledge their full responsibility for their 20-year presence in Afghanistan, and assume the entire burden of post-conflict reconstruction of the country,” Shoigu said.

One day later, on Thursday, Russia’s Deputy Defense Minister Vasily Osmakov met with Yaqoob in Moscow to discuss regional security and potential bilateral military cooperation.

According to the ministry, the two sides addressed security issues in Central and South Asia, as well as the outlook for cooperation between their armed forces, including areas of military collaboration.

Russia was the first to recognize the Taliban-led state that assumed control in Afghanistan in 2021. The recognition took place in July 2025. 

US troops launched a hasty and chaotic withdrawal from Afghanistan after the Taliban’s 2021 victory and subsequent takeover of the country. 

The US military left behind large amounts of equipment. An internal State Department review from 2023 attributed the chaotic evacuation to poor planning.

We've come a long way since the era of Operation Cyclone...

Since then, the country has remained blocked from accessing around $9 billion in frozen Afghan assets. Washington controls the vast majority of these funds via the New York Federal Reserve Bank. 

Tyler Durden Sat, 05/30/2026 - 11:40

Crypto And AI Could Be Dirty Words On 2026 Midterm Campaign Trail

Zero Hedge -

Crypto And AI Could Be Dirty Words On 2026 Midterm Campaign Trail

Authored by Aaron Wood via CoinTelegraph.com,

The AI and crypto industries have made headlines over the past year thanks to the impressive war chests amassed by corporate political action committees (PACs).

Profligate spending during the last federal elections in the US has led to unprecedented policy changes favoring the crypto industry, with indications that a full legislative framework in the form of the CLARITY Act is on its way to becoming law. 

But this hasn’t endeared the crypto industry to voters. Recent polls from Politico show distrust of the crypto industry, and the electorate isn’t sold on the benefits of AI.

“Voters across the ideological spectrum are raising concerns,” Michael Beckel, director of money in politics reform at Issue One, told Cointelegraph. “Some candidates on both sides of the aisle are trying to harness that frustration and outrage.”

Voters don’t trust crypto and don’t believe AI benefits them

According to the recent poll by Public First for Politico, most Americans don’t trust crypto and don’t believe in the benefits of AI. 

Source: Politico

While Republican voters are somewhat more likely to trust crypto, 47% of Americans overall trust a traditional bank over a crypto platform, while 17% trust a crypto platform as much as a traditional bank. 

The numbers for AI aren’t great either. Some 43% of Americans overall believe that the risks outweigh the benefits, while 33% believe the inverse. 

Source: Politico

Currently, most people haven’t heard about the major crypto and AI lobbies. According to Politico, only nine percent have heard of AI Super PAC Leading the Future. Only three percent have heard of pro-crypto PAC Fairshake.

That’s not much compared to public awareness of large lobbies like the National Rifle Association or the Planned Parenthood Action Fund, which are practically household names.

Still, association with crypto could be a problem. Ohio Republican Representative Jim Renacci told Politico, “I do think if they see somebody is backed by crypto, that’s always going to be a problem, because, let’s face it, the people that I talk to in Ohio, they don’t understand crypto, and most say they’re not comfortable with [it].”

Improving awareness around crypto lobbies may not help them much. Rick Claypool, research director at Public Citizen, told Cointelegraph:

“Generally speaking, voters are against corporate money influencing politics.”

“Even after Citizens United, the norm had been for big, brand-name corporations not to engage directly. Or when they did engage, they would often contribute through dark money groups that obscure their funding source.”

In this regard, the crypto industry’s spending spree in 2024 was somewhat unusual. Major contributors like Coinbase or a16z weren’t shy about the millions of dollars they put into campaigns.

But even then, “the voter-facing message from Fairshake was never about crypto, which voters never really cared about.” Mailers and ad buys reflected the supported candidates' positions more broadly, or sometimes attacked those of the perceived anti-crypto candidate. 

Overall, “candidates who are seen as not beholden to corporate interests have an electoral edge,” said Claypool. This was true for populist candidates like US Senator Bernie Sanders and even US President Donald Trump, who claimed during his 2016 campaign that “he was so rich he could not be bought, which is laughable in hindsight.” 

If awareness about crypto — and crypto’s concerted efforts to influence policy — increases among the electorate, it may not shake out well. 

Issue One’s Beckel said, “If voters view an industry as toxic, that can have serious implications for candidates who don't want to be perceived as too close to a controversial company or industry.”

Grassroots organize against AI, crypto gets its day in Washington

Voter dissatisfaction with a certain industry has translated into real action. 

Beckel noted a recent example when voter attitudes about the oil and fossil fuel lobby were enough to get some Democratic candidates to swear off any contributions. Beckel said that some organizations are already urging lawmakers to forswear any contributions from AI lobbies.

Indeed, there has been a grassroots movement growing against the AI industry more directly, namely the construction of the highly expensive and resource-intensive data centers. Local movements in seven states have blocked or delayed over $64 billion in data center investment. One state, Maine, is poised to introduce a state-wide ban.

Municipalities in California, Oregon, Arizona, Texas, Missouri, Indiana and Virginia have banned or delayed projects. Source: Data Center Watch

According to Claypool, this could prove a great opportunity for Congressional candidates “to seize the grassroots momentum against data centers and Big Tech for Democrats in particular, but not exclusively, since the tech sector has so fully enmeshed itself with the Trump administration.”

This increasing partisan alignment could also affect how voters perceive these industries. 

Jason Thielman, former executive director of the National Republican Senatorial Committee, said that the crypto industry has attempted to “maintain a degree of bipartisanship and identify people whom they think will be champions on these issues.”

But even as the lobby claims to be bipartisan — Coinbase CEO Brian Armstrong called crypto “the most bipartisan issue” in DC — its priorities like deregulation and withdrawn enforcement lean mostly, but not exclusively, Republican, said Claypool.

Claypool said that “crypto billionaires have tried to present themselves as scrappy underdogs against Wall Street.”

“But that's a less compelling argument now that crypto allies run, in addition to the White House, the DOJ, SEC, CFTC, the Treasury Dept., and the Commerce Dept.”

Furthermore, the sector has become deeply tied to Trump himself after the president’s full embrace of the industry in 2024, as well as pardons for convicted crypto execs and his use of crypto for his own personal enrichment. 

With Trump’s popularity sliding due to geopolitical bungles, an unpredictable economic outlook and controversial policies at home, having ties to him and his party may carry political risk.

In a Democratic Illinois Senate primary, Illinois Lieutenant Governor Juliana Stratton accused her opponent Representative Raja Krishnamoorthi of being backed by big money from “MAGA-backed crypto bros.” She won by seven points. 

It could also influence future policymaking. Said Beckel, “If an industry is viewed as a friend of one party and enemy of another, it may be more likely to be in the crosshairs or under the microscope when the other party is in power.”

For crypto and AI, that moment may come as soon as Nov. 4.

Tyler Durden Sat, 05/30/2026 - 10:30

MiB: Remembering Jonathan Clements with Jason Zweig and William Bernstein

The Big Picture -



 

This week, I sit down with Jason Zweig and William Bernstein. We discuss “Money and Me” the last book of author and journalist Jonathan Clements. Jason and Bill also examine Clements’s approach to personal finance and its impact on financial journalism.

They recall how each of them met Jonathan, and how he impacted the entire financial community.

A list of Jonathan’s books is here; A transcript of our conversation is available here next week.

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (video), YouTube (audio), and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.

Be sure to check out our Masters in Business next week with Chris Davis, Chairman and Portfolio Manager of Davis Funds. The firm oversees $20 billion in client assets, with Davis (and colleagues) co-investing $2 billion in their own mineus alongside shareholders. Davis was named Morningstar’s Portfolio Manager of the Year; he also sits on the boards of Berkshire Hathaway and Coca-Cola.

 

Jonathan Clements’ Books

 

 

 

 

 

The post MiB: Remembering Jonathan Clements with Jason Zweig and William Bernstein appeared first on The Big Picture.

"Brief Exchange": Top U.S., Cuban Military Leaders Meet At Edge Of Guantanamo Base

Zero Hedge -

"Brief Exchange": Top U.S., Cuban Military Leaders Meet At Edge Of Guantanamo Base

Three weeks after CIA Director John Ratcliffe met with officials in Havana, reopening a political backchannel between Washington and the Cuban government, a rare military-to-military meeting unfolded at the edge of the U.S. naval base at Guantanamo Bay.

U.S. Southern Command wrote on X that Marine Gen. Francis Donovan, head of U.S. Southern Command, met with Cuban Gen. Roberto Legrá Sotolongo and other officers at the perimeter of Naval Station Guantanamo Bay for what SOUTHCOM described as a "brief exchange on operational security matters."

SOUTHCOM did not elaborate on the brief exchange between top U.S. military brass in the region and Cuban generals. No statement was issued by the U.S. Embassy in Havana, leaving the meeting framed as yet another signal that U.S.-Cuba talks are strengthening.  

In mid-May, CIA Director John Ratcliffe held high-level talks with Cuba's Interior Minister, the head of Cuban intelligence, and Raúl Castro's grandson, Raulito Rodríguez Castro.

Havana's communist government released a statement noting that the meeting "took place Thursday, May 14, against a backdrop of complex bilateral relations."

AP noted that Cuban officials presented a report to Ratcliffe and his team, claiming to demonstrate that the communist-run island poses no threat to U.S. national security.

Meanwhile…

Increased back channeling has come amid a sharp escalation in U.S.-Cuba tensions. The Trump administration has been pressing Havana for sweeping economic and political reforms, while the U.S. naval blockade on fuel shipments remains in place.

President Trump has repeatedly warned Havana about military intervention. The Justice Department last week unsealed an indictment against former Cuban President Raúl Castro and five others of the communist regime.

Also, the Treasury Department subpoenaed far-left influencer Hasan Piker over his trip to Cuba. He and CCP-aligned NGOs that went to Cuba are being investigated by officials to determine if they violated U.S. sanctions and laws.

Tyler Durden Sat, 05/30/2026 - 09:55

Leftist German Party Leader Forced To Correct Lies About AfD Leader, Pay Her Legal Fees

Zero Hedge -

Leftist German Party Leader Forced To Correct Lies About AfD Leader, Pay Her Legal Fees

Via Remix News,

Alice Weidel, co-leader of the anti-migration Alternative for Germany (AfD) party, has successfully sued the Left Party leader and won a retraction after she spread falsehoods about Weidel on live television.

In mid-May, Ines Schwerdtner, the federal chairwoman of the Left Party, claimed during an interview on Welt TV that Wediel neither resides in Germany nor pays taxes. 

“Alice Weidel doesn’t even live in Germany, she doesn’t pay taxes here,” she told viewers.

This statement is false.

While Weidel spends much of her time with her family in Switzerland, she has her primary residence in Germany and pays taxes in the Federal Republic of Germany. Weidel has been very guarded about the issue over the years, as she faces a high threat level and avoids appearing in public due to the security threat she lives under.

AfD leader has family taken to safe house and cancels rally due to attack threat

Weidel’s lawyers explained in a warning letter, cited by Junge Freiheit, that this claim was false, as their client both lived in Germany and paid taxes. 

The law firm Höcker filed a lawsuit on the AfD’s behalf seeking an injunction. Weidel’s lawyers also demanded that Schwerdtner ensure the relevant passage was deleted from Welt TV’s programming.

Furthermore, the lawsuit calls on the Left Party leader to acknowledge the “claim for damages.”

Following this, Schwerdtner’s lawyer sent a letter to the Höcker law firm stating that their client had “indeed made a mistake.” The Left Party leader additionally undertook to “refrain” from making the false statement that Weidel does not pay taxes in Germany. 

The letter also pointed out that the interview in question on Welt TV had since been deleted by the broadcaster. Furthermore, Schwerdtner stated that she would transfer the legal fees “within one week.”

Germany: Left Party wants voting rights for all foreigners who have lived in the country for 5 years

Weidel’s press spokesman, Daniel Tapp, told JF that in politics one “shouldn’t be too sensitive in principle.”

However, when “blatant falsehoods are being spread, one cannot let them stand unchallenged.” 

The AfD has been surging in the polls, with one survey last week showing it hitting a record 42 percent in Saxony, double the support of the second-place Christian Democrats (CDU).

Germany: Anti-immigration AfD soars to record high 42% in state of Saxony, nears absolute majority

A poll in May showed the AfD at 29 percent at the national level, while the Christian Democrats (CDU/CSU) fell to 22 percent.

Read more here...

Tyler Durden Sat, 05/30/2026 - 09:20

Intercepted Iranian Missile Damages U.S. Reaper Drones, Injures Five At Kuwaiti Air Base

Zero Hedge -

Intercepted Iranian Missile Damages U.S. Reaper Drones, Injures Five At Kuwaiti Air Base

An Iranian Fateh-110 short-range ballistic missile targeted Kuwait's Ali Al Salem Air Base, a key operational hub for the U.S. Air Force's expeditionary forces in the Gulf region.

An initial report from Bloomberg News indicates that Kuwaiti air defenses intercepted the tactical ballistic missile in the last 24 hours, but falling debris struck part of the base, injuring five Americans and damaging one MQ-9 Reaper drone while severely damaging another.

About five people, including both contractors and active duty personnel, suffered minor injuries, the person said. One Reaper was destroyed and at least one other was seriously damaged. -BBG

News of the strike on ASAB, where the 386th Air Expeditionary Wing under U.S. Air Forces Central acts as a forward logistics, airlift, and combat-power gateway for the broader CENTCOM theater, comes as the US and Iran on Friday reached a tentative memorandum of understanding to extend a ceasefire by 60 days and restart nuclear negotiations. However, the proposal still requires final approval from President Trump, according to U.S. officials cited by Fox News.

Treasury Secretary Scott Bessent also indicated yesterday that Washington is maintaining maximum leverage, saying sanctions relief will remain off the table unless Tehran reopens the Hormuz chokepoint, transfers highly enriched uranium, and accepts that it cannot maintain a nuclear program.

Meanwhile, Secretary of War Pete Hegseth attended the Shangri-La Dialogue in Singapore overnight, where he said the US military is prepared to resume strikes against Iran if negotiations over the nuclear program collapse.

"Any deal will be a good one. A great one," Hegseth said Trump told him. "And if Iran doesn't want to make a great deal that ensures they don't get a nuclear weapon, they can deal with the guy on my left," he added, referring to the War Department.

"We are more than capable," Hegseth noted in reference to a renewed military strike against Tehran. "Our stockpiles are more than suited for that, both there and around the globe."

Hegseth's remarks came just hours after Trump met with officials in the White House Situation Room to discuss the next phase of negotiations with Iran.

"The Situation Room meeting has concluded and lasted approximately two hours. President Trump will only make a deal that is good for America and satisfies his red lines. Iran can never possess a nuclear weapon," a White House official said in a statement issued late Friday.

Iran's Foreign Ministry commented on the memorandum of understanding between the two nations, stating that nothing has been finalized yet.

News of progress toward a peace deal comes as energy experts warn of an energy cliff that could emerge as soon as next month if the Hormuz chokepoint remains closed.

It's clear that inventories, floating storage, rerouted cargoes, emergency substitutions, and rationing have absorbed the initial shock of lost Gulf-area crude, offsetting the roughly 10 million barrels of oil that weren't reaching their intended destinations each day. Additionally, daily headlines have pushed Brent crude futures to $91 per barrel by Friday afternoon.

But as we've warned, if the Hormuz chokepoint doesn't reopen in the near term, crude oil could soon be aggressively repriced higher, as those inventories are being drained at an alarming rate.

Latest on the energy market: Latest Bloomberg headlines:

US Naval Blockade

  • The US continues its blockade of Iranian vessels, with the US Central Command attempting to stop Iranian vessels seeking to pass through the blockaded area by issuing warnings along the blockade line.

  • US blockade of the Strait of Hormuz is still in place as of Saturday morning.

Iranian Missile Attacks

  • An Iranian ballistic missile strike on Kuwait's Ali Al Salem Air Base within the past 24 hours caused minor injuries to several Americans and seriously damaged two MQ-9 Reaper strike drones.

  • Kuwaiti air defenses intercepted the Fateh-110 missile, but falling debris struck the air base.

Ceasefire Negotiations

  • The US and Iran have reached a preliminary deal to extend a ceasefire by 60 days and discuss Tehran's nuclear program, but President Trump has yet to agree to the terms.

  • Trump left a two-hour Situation Room meeting on Friday without deciding on the possible deal, despite earlier suggesting an agreement was near.

  • Defense Secretary Pete Hegseth said Saturday that the US is ready to restart attacks on Iran if a deal cannot be reached.

Strait of Hormuz Transit

  • Iran state TV reports that 2 ships have crossed the Strait of Hormuz in the past 24 hours.

  • The US affirmed that deals with Iran to sail through the Strait of Hormuz safely are prohibited, regardless of whether a payment is made.

  • Several vessels transiting through the Strait of Hormuz have been attacked in recent days, according to the Chevron CEO.

  • Qatar opposes permanent legal fees for transit through the Strait of Hormuz, but a temporary fee for mine-clearing purposes is negotiable.

Polymarket: //--> //--> Strait of Hormuz traffic returns to normal by June 15?
Yes 8% · No 93%
View full market & trade on Polymarket //--> //--> US x Iran permanent peace deal by June 7, 2026?
Yes 14% · No 86%
View full market & trade on Polymarket

The clock is ticking for a deal to avert an energy cliff that top energy experts warn is near.

Tyler Durden Sat, 05/30/2026 - 08:45

UK's Ofcom Investigates Airing Of Trump Interview Calling Climate Change A "Hoax"

Zero Hedge -

UK's Ofcom Investigates Airing Of Trump Interview Calling Climate Change A "Hoax"

Authored by Jonathan Turley,

I have been writing about the decline of free speech in the United Kingdom for years, including in my book The Indispensable Right: Free Speech in an Age of Rage. 

One of the most critical components of the British censorship system is Ofcom, the Office of Communications, which regulates the broadcasting, internet, telecommunications, and postal industries.

The most recent controversy is detailed in the Telegraph, with Ofcom investigating GB News over the simple replaying of a Trump interview in which he called climate change a “hoax.” 

Ofcom is investigating GB News for failing to challenge Trump’s characterization, even though many people share his views on climate change.

It is a breathtaking demonstration of the censorship culture in the United Kingdom. World leaders make controversial statements in every interview.

A free press allows the public to hear such viewpoints and reach their own conclusions on the merits of such arguments or policies.

The debate over the climate change data continues to rage.

The dates for dire predictions for massive environmental disasters, including those of Al Gore, have passed. Professor Guy McPherson received widespread press attention for his 2016 prediction that the entire human race would be wiped out by 2026. It appears that he is wrong.

Al Gore received the 2007 Peace Prize for his film The Inconvenient Truth as media, academic, and government censors attacked anyone questioning his data. His apocalyptic predictions have not borne out, and recent scientific papers have rejected the predictions found in the underlying studies.

Gore predicted more frequent and stronger hurricanes, but some insist that global data reveal a slight decline in both frequency and intensity. Others argue that the number may be decreasing but the intensity is increasing.  We have not seen the type of global hurricane disaster that Gore described in the movie.

Critics point to NASA data to argue that the areas burned by wildfires have fallen by more than 25 percent over the past quarter of a century.

While the global population quadrupled in the last century, deaths from climate-related disasters have plummeted from the 1920s, when an average of nearly half a million people died annually from such events.

Even the film’s famous use of polar bears has not panned out. Polar bear populations have more than doubled from around 12,000 in the 1960s to over 26,000 today.  While some have contested those figures, it has certainly not resulted in the wipeout predicted by Gore.

I believe that climate change is real, and there are other signs of more severe climate events, including flooding, that present real dangers for various countries. The point is not to say that it is all a hoax, but that reasonable people can disagree on this question.

That brings us back to the British censors.

In the last two decades, free speech protections in the U.K. have been eviscerated and the government is doubling down on the criminalization of speech. The criminalization of speech has expanded exponentially as individuals and groups call the police to silence those who criticize them or advocate opposing views.

Even silent prayer or “toxic ideologies” can lead to arrest. Expressing concerns over Western cultural values is now treated as an admission of “right-wing ideology,” warranting investigation. A few years ago, a neo-Nazi living with his mother was found to have a room filled with hateful symbols and material.

Judge Peter Lodder dismissed free speech concerns over the defendant’s possessions with a truly Orwellian flourish:

“I do not sentence you for your political views, but the extremity of those views informs the assessment of dangerousness.”

Calling the defendant “a right-wing extremist,” Mr. Lodder said the contents of his room were evidence of “enthusiasm for this repulsive and toxic ideology.”

The British people have become conditioned to censorship as different groups seek to silence those who express opposing viewpoints. The result is one of the most speech-phobic nations on Earth as offices like Ofcom fuel the fear of free speech.

Tyler Durden Sat, 05/30/2026 - 08:10

The Case For Air Conditioning Is Growing In Britain

Zero Hedge -

The Case For Air Conditioning Is Growing In Britain

A recent spell of extreme heat has intensified debate over whether UK homes should be designed with built-in cooling systems, according to FT.

Air conditioning remains uncommon in Britain, with fewer than 5% of homes equipped with it, reflecting a long-standing view that cooling is a luxury rather than a necessity.

FT writes that current building standards favor passive methods of controlling indoor temperatures, such as insulation, shading, and natural ventilation. Developers generally prioritize these measures, arguing they are more energy-efficient and better aligned with environmental goals. Concerns about the cost of installation, higher electricity consumption, and pressure on the power grid have also limited the adoption of air conditioning in new developments.

However, rising temperatures are challenging this approach. Critics argue that passive measures become less effective during severe heatwaves, particularly in modern, well-insulated buildings that can trap heat indoors. Climate experts have warned that a significant share of the UK’s housing stock may require some form of active cooling as temperatures continue to rise.

Consumer attitudes appear to be shifting as hotter summers become more common. Demand for air conditioning has increased among homeowners, tenants, and landlords, while installers report surging enquiries during periods of extreme heat. Yet retrofitting existing properties remains difficult due to high costs and planning restrictions, especially in older buildings.

As climate change increases the frequency and intensity of heatwaves, the question is no longer whether overheating is a problem, but how homes can be adapted to remain comfortable while balancing energy efficiency and sustainability.

Meanwhile, as Bloomberg notes, the heat is also creating new challenges for people who work remotely. With temperatures reaching record levels for May in London, companies that install air-conditioning systems report a sharp rise in inquiries and bookings.

The issue reflects a wider mismatch between the UK’s housing stock and a changing climate. Most homes were built to conserve heat during winter, not to cope with extended periods of extreme warmth. Despite rising temperatures, fixed air conditioning remains uncommon, leaving many households dependent on fans or portable cooling units.

For residents, the consequences are increasingly disruptive. Some workers are abandoning home offices in favor of air-conditioned workplaces, while others describe sleepless nights, overheated apartments, and difficulty focusing during the day. Even getting to the office offers limited relief, as much of London’s Underground network still operates without air conditioning.

The debate reflects a broader challenge facing Britain as it adapts to a warmer climate. While concerns about energy use and sustainability remain valid, increasingly frequent heatwaves are forcing policymakers, developers, and homeowners to reconsider what constitutes a comfortable and resilient home.

Britain is finding that as temperatures continue to rise, cooling may become less of a luxury and more of a practical requirement for modern living.

Tyler Durden Sat, 05/30/2026 - 07:35

Norway Lobbies To Persuade EU To Drop Arctic Drilling Ban

Zero Hedge -

Norway Lobbies To Persuade EU To Drop Arctic Drilling Ban

Authored by Tsvetana Paraskova via OilPrice.com,

Norway, Western Europe's top oil and gas producer, has intensified lobbying at the European Union to persuade the bloc to remove or tweak its moratorium on Arctic oil and gas drilling.

Norway, which is not a member of the EU but is the biggest gas supplier to European markets, has sent nearly a dozen of its ministers to Brussels so far this year to discuss energy and trade and the state of the Arctic drilling.

The Iran war and the biggest oil and gas supply disruption in history have added to Norway's arguments that Europe needs reliable supply from places outside of conflict zones.

However, the EU's moratorium enacted in 2021 due to the bloc's climate commitments and environmental concerns, does not allow drilling in Norway's northern parts of the Barents Sea, which is estimated to contain most of the remaining Norwegian oil and gas resources.

“Norway is very active and good at making its voice heard,” the EU's special envoy for the Arctic, Claude Veron-Reville, told Bloomberg in an interview this week.

“Norway knows very well how to intervene, they are very well organized and very present,” Veron-Reville added.

Norway argues that an arbitrary line defining the Arctic area shouldn’t be viewed as the cut-off line for oil and gas drilling.

“There are no climate arguments for treating oil and gas produced north and south of a certain line differently,” Norway’s Foreign Minister Espen Barth Eide told Bloomberg.

Norway’s lobbying efforts clash with this week’s call of dozens of Scandinavian financial institutions which urged the European Commission to remain firm in its opposition to Arctic oil drilling even as the bloc could face physical oil shortages in weeks.

The EU could unlock 3.5 billion barrels of oil equivalent (boe) of natural gas, or about 22 trillion cubic feet, if it rethinks its Arctic policy, Norway-based consultancy Rystad Energy said early this year.

Tyler Durden Sat, 05/30/2026 - 07:00

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