Individual Economists

Trump Uses Recission "Loophole" To Cut Nearly $1 Billion In Funds For Illegals

Zero Hedge -

Trump Uses Recission "Loophole" To Cut Nearly $1 Billion In Funds For Illegals

To summarize the Democrat Party's current strategy on immigration, here is essentially how it works: 

Whenever in power, they create billions in incentives and subsidies to entice third world migrants to flood the US en masse.  With open borders and amnesty programs, moving 10 million or more illegals at a time into the country is easy and fast.  When out of power, they use lawfare and political obstruction to prevent deportations and slow down the process.  

In other words, make immigration easy and remigration nearly impossible.  Stall for four years, regain power during the next election while pro-deportation constituents whine and complain about the president "not doing enough", then repeat the process all over again.  Under the current system, it would take three full conservative presidential terms or more to undo what Democrats did in a single term.  That is the play they are relying on.

From 2017 to 2024, the Trump Administration faced 64 nationwide injunctions on immigration and deportation policies; 92% of them came from judges appointed by Democrat presidents.  

From 2025 to today, Trump has been blocked at least 86 times by activist judges nationwide or class-wide injunctions and major program pauses.  To put this in perspective, nationwide injunctions were extremely rare through the 20th Century.  Starting in 2000, the numbers increased, but nowhere near the level Trump has dealt with. 

George W Bush had only 6 injunctions from Democrat judges. Barack Obama had 12 injunctions from Republican judges.  Biden had 28 injunctions (largely because of his efforts to expand pandemic controls and enforce vaccine mandates). 

It is undeniable - The bureaucracy is being abused as a way to stop Trump from enacting normal policy decisions on immigration.  This forces the White House to exploit every legal loophole available just to get anything done in the next couple of years.  

Enter the "recission" method...

The White House has moved to cancel $810 million in already-approved federal spending through a rare budget tactic called a “pocket rescission.”  The administration frames it as cutting “wasteful and harmful” programs tied to noncitizens, DEI, and ideology.  Critics call it "illegal". 

The timing is what makes the decision controversial. The federal fiscal year ends September 30th. Under the Impoundment Control Act of 1974, a president can propose canceling appropriated money and withhold it for 45 days while Congress considers the request.  By sending this package with only five days left, the White House is betting the money will expire before Congress can act. 

This is the second such move in about 50 years and both came in Trump’s second term. Last year the administration used the same tactic on $5 billion in foreign aid; the Supreme Court later allowed that effort to proceed 6–3, citing foreign-affairs authority.   

Legal challenges are still likely, but perhaps this situation will help to illustrate why the deportation process has been a grind.  Even with the constant interventions, deportations have skyrocketed by 30% in the past year to 80,000 illegals removed per month.  Trump should be commended for finding a way despite all the obstacles Democrats have put in place.     

Tyler Durden Tue, 09/29/2026 - 06:55

Russia Tightens Secrecy On Energy Exports

Zero Hedge -

Russia Tightens Secrecy On Energy Exports

Authored by Charles Kennedy via Oilprice.com,

Refinery production figures, export contracts and tanker routes are now off-limits to public reporting in Russia, under a decree Putin signed Monday, Reuters reported. The Kremlin points to unfriendly actions by Washington and its allies as the reason, and the restrictions took effect on signing, with the government given 10 days to define exactly which product codes are covered.

Data on refining volumes at Russian plants is now restricted, along with contract details, including product names, quantities, prices, buyers, sellers, payment terms, shipping routes, and vessel coordinates at export terminals. Customs statistics and planned sales volumes on commodity exchanges fall under the same rule. None of it can appear "through mass media or internet networks," per the decree text, unless a company chooses to disclose its own figures.

Moscow classified crude output data after annexing Crimea in 2014 and tightened that secrecy again after invading Ukraine in 2022. Monday's decree does the same for refining and logistics data, tying it directly to sanctions enforcement on the rationale that the less Western governments can verify independently, the harder the price cap is to police.

The timing lines up with a rough year for Russian refineries. Ukrainian drones have hit a Russian refinery every three days on average through the first eight months of 2026, and IEA figures put national throughput at 3.8 million barrels a day by June, down 30% from a year earlier and the lowest level in over two decades. Gasoline output is down roughly 20% and diesel nearly 30%, with fuel shortages reported across 92% of Russian regions.

Officials in Moscow describe the damage as under control. Deputy Prime Minister Alexander Novak said this month that fuel supply had improved on additional refinery deliveries, while Putin himself has put the share of refineries still needing repairs at around 10%.

Tyler Durden Tue, 09/29/2026 - 06:30

Eight Marines Were Injured By Iranian Anti-Ship Cruise Missile Attack 2 Weeks Ago

Zero Hedge -

Eight Marines Were Injured By Iranian Anti-Ship Cruise Missile Attack 2 Weeks Ago

Several days ago The Washington Post reported that the Pentagon quietly added dozens to its tally of American servicemembers wounded amid the Iran war.

Since March and hearkening back to the opening weeks of Operation Epic Fury, there's been an alleged constant Trump administration effort to conceal or at least downplay damage and casualties from Iranian retaliation strikes on US bases in the region.

War Secretary Pete Hegseth and top generals especially in the opening months tried to present the American public with a much rosier than the ground reality picture of how things are going in the new Middle East war.

via Associated Press

The Washington Post's Sept. 25 article noted in the wake of recent flare-ups in fighting from weeks ago: "The Pentagon’s public tally of troops wounded during the Iran war was quietly increased by 37 this week without explanation from the Defense Department."

"The increase includes 29 Navy sailors and eight Marines, according to a review of the Pentagon’s public database of personnel killed and wounded during U.S. conflicts and other military operations overseas," the report continued, referring to the official Defense Casualty Analysis System, or DCAS.

This set off an avalanche of speculation over the weekend, also as regional watchers considered whether prior attacks on US bases in Jordan resulted in more casualties than what's ever been publicly disclosed.

A Sunday NBC News report may have offered the answers needed. It cites officials who describe that eight US Marines were injured when an Iranian anti-ship cruise missile struck a vessel in the Strait of Hormuz that they were operating on earlier this month.

The group of Marines are said to include seven enlisted troops and one officer - and reportedly suffered injuries which range from traumatic brain injuries to smoke inhalation:

Eight U.S. Marines were injured two weeks ago when an Iranian cruise missile attacked the ship they were operating on in the Strait of Hormuz, according to three U.S. officials. The Marines were not seriously injured, but they sustained smoke inhalation and possibly traumatic brain injuries, as they had symptoms of concussions, such as headaches, the officials said.

Further interesting is that NBC's sources made clear that when the attack happened, the Marines were not aboard a US Navy ship, which suggests they may have been operating incognito on an unmarked vessel, or else were possibly directly on a tanker being provided protection by the US Navy. Officials didn't specify the type of ship they were on, but only called it a "maritime vessel".

And Joe Kent, Trump's former Director of the National Counterterrorism Center, says something similar...

Military.com in a fresh follow-up report has added more context as follows:

Eighteen service members have now died and over 800 Americans have been wounded in the conflict, according to the Pentagon's own data. Last week, Army officials told Military.com that Capt. Bianca C. Wilkerson, 37, of Norfolk, Va., died on Sept. 18 as a result of "a non-combat related incident." She was posthumously promoted to major.

NBC News reported that the Marines were not on a Navy ship, and that all returned to duty soon after the attacks. They were reportedly operating as part of a battalion landing team.

The attack is said to have occurred on Sept. 14 - and the new casualties were added to the Pentagon's Defense Casualty Analysis System almost ten days later. This is likely going to fuel more accusations of a broader US casualty cover-up amid the standoff with Iran.

Tyler Durden Tue, 09/29/2026 - 05:45

UK Pride Group "Captures" A 1,000-Year-Old Castle

Zero Hedge -

UK Pride Group "Captures" A 1,000-Year-Old Castle

Authored by Steve Watson via Modernity.news,

They called it "Capture the Castle." Not a picnic. Not a concert. Capture.

On Saturday morning a 1,000-year-old Norman fortress in Devon was wrapped in a 150-metre rainbow banner while organisers talked about occupying the ramparts and sending a message that the building now belongs to their cause. Nobody has to guess at the intent. They wrote it on the programme.

Totnes Castle sits at the highest point of the hilltop town. Founded around 1087 to lock down a crossing of the River Dart, it is one of England's best-preserved motte-and-bailey strongholds, a Grade I listed site in the care of English Heritage. On 26 September, as part of a four-day Totnes Pride festival, some 400 people gathered in the grounds while around 30 flag-bearers unfurled the giant Pride flag across the ancient masonry. The spectacle was billed as the defining image of the weekend.

Ceri Goddard of Totnes Pride told the BBC they wanted the festival to be "a bit different," and that covering "the iconic castle" would show that "queer people have always been here and we always will be." She said English Heritage had been "amazing, helping us plan," after a rehearsal to work through the logistics.

A Totnes Pride spokesman said: "Capture the Castle is the image that will define this year's festival, but what we've built around it is a genuinely ambitious arts and culture programme - over 40 events." The same statement talked of a town that "welcomes people from all walks of life." Liberal Democrat MP Caroline Voaden praised the "scale, diversity and quality of the Pride festival Totnes has produced," and said it was "sending a clear message of equality and inclusion."

That is one reading. Another is the language the organisers chose for themselves. Their own programme invited people to "storm the Castle grounds," described local flag-bearers who would "invade" the ramparts, and framed the morning as the "most visible, bold and important civic moment" of the weekend.

Some residents were appalled. Local Ian Robinson wrote: "950 years of Norman history, medieval warfare, royal decrees and Civil War - all leading up to the moment we thought: 'You know what this ancient castle really needs? A 150-metre rainbow flag'. Because apparently nine and a half centuries of heritage wasn't quite colourful enough. Still, at least the tea room survived long enough to witness the decline."

Roofer Russell Blackaller, who works on listed buildings, pointed out the double standard inside planning law itself. People in Grade II houses, he said, "require formal consent sometimes purely to erect a scaffolding." Yet a Grade I monument was draped "purely to have a celebration."

Courtney Soleil put the civic point cleanly: "No one is saying people shouldn't be free to live as they choose, but not every historic landmark needs to be turned into a statement for the cause of the moment. This is a 950-year-old Norman castle and part of Britain's shared heritage." Historic monuments, she argued, should represent that shared history rather than "continually being used to promote one particular cause."

Christian Concern chief executive Andrea Minichiello Williams told The Telegraph: "The castle may have been captured in history, but today it is the town itself that feels captured - not by an army, but by an ideology that has taken hold of its public spaces and its culture, leaving little room for anyone who dares to disagree."

Restore Britain's Rupert Lowe was no gentler: "It is not 'homophobic' to label this as wildly naff and generally vomit-inducing." He added: "Sensible gay people despise the woke theatre of it all too, and just want to get on with their lives."

Indeed, in 2016 Totnes council took down a Union Flag because it was deemed "too noisy" when it flapped in the wind. In 2015 a planned permanent rainbow crossing was blocked by Devon County Council on traffic-safety grounds, but the instinct of the activists was already clear: the civic surface of the town is a canvas, except when the paint is red, white and blue.

Flying a British or English flag from that same castle would, of course, be treated as a provocation. Across the country the pattern is no longer subtle. Britain's biggest council has gone to the High Court seeking an injunction that could put people in prison for two years for attaching Union Flags and St George's Crosses to highway furniture, while Pakistan, Palestine, Somalia, India and Jamaica flags have been hosted, lit up, or left flying.

 

English Heritage helped plan this latest rainbow eyesore. A sitting MP turned up to bless it. The keep that survived the Civil War is now a billboard for a faction that talks about invasion as if that were charming.

The national flags of the country that built the place are the ones that get the injunctions, the noise complaints, and the lectures about "community cohesion."

Tyler Durden Tue, 09/29/2026 - 05:00

Dutch Doctors Euthanize Two-Year-Old Toddler In First Case Of Its Kind

Zero Hedge -

Dutch Doctors Euthanize Two-Year-Old Toddler In First Case Of Its Kind

A doctor in the Netherlands euthanized a toddler in what officials said is the country's first case involving a child under 12, and a government-appointed review panel concluded the physician acted "with due care."

The child, who was nearly 2 years old and suffering from severe medical conditions, died at the end of 2025, with details only becoming public this month after the supervising committee issued its finding.

The child was born at 26 weeks, suffered brain damage, and was later diagnosed with spastic cerebral palsy and a severe form of infant epilepsy, according to the report. The child's parents requested termination of life after the attending physician concluded the child's suffering was unbearable and without hope of improvement.

Independent doctors first consulted in the case concluded the child was not in continuous unbearable suffering and that reasonable alternatives still existed. Rather than stopping there, the attending physician sought another opinion, and a second doctor signed off. The first consultants said palliative options and different medication might improve control of the child's epileptic seizures. The official report did not say death was imminent; it said the child's life expectancy was shortened and depended on potentially life-threatening complications.

Until 2024, Dutch rules covered termination of life for newborns and separate euthanasia requests from minors age 12 and older. A special regulation that took effect in 2024 created a framework for termination of life in children under 12, subject to strict medical-review requirements.

News of the Dutch case comes days after a shocking report from Canada, where an 83-year-old Christian grandmother in Ontario was euthanized under the country's Medical Assistance in Dying program this summer, and her family said she never gave her final consent.

Brigitte Stegemann died by lethal injection on July 10 at The Pearl, a care home in Cannifton, Ontario, after being diagnosed with Stage IV stomach cancer. Relatives said Stegemann, a devout Christian, had already turned down MAID because it went against her faith, telling them, "No, I don't want that," and that her wish was to die naturally.

Stegemann's granddaughter and longtime caregiver, Brigitte Kranendonk, said the process moved forward anyway and sped up while she was away on vacation.

Meanwhile...

Tyler Durden Tue, 09/29/2026 - 04:15

South Korea Summons Acting Ukrainian Ambassador Over North Korean Prisoner Transfer Revelation

Zero Hedge -

South Korea Summons Acting Ukrainian Ambassador Over North Korean Prisoner Transfer Revelation

Authored by Guy Birchall via The Epoch Times,

The South Korean Ministry of Foreign Affairs summoned Ukraine's acting ambassador to the country on Sept. 28 to convey Seoul's displeasure over Ukrainian President Volodymyr Zelenskyy's revelation that two North Korean prisoners of war had been transferred to South Korea.

South Korean President Lee Jae Myung in Seoul, South Korea, on June 8, 2026. Chung Sung-Jun/Getty Images

South Korean First Vice Minister Park Yun-ju told acting Ukrainian Ambassador Andriy Beshkin that despite a clear agreement to keep the repatriation confidential, Kyiv unilaterally revealed the move during Zelenskyy's speech to the U.N. General Assembly (UNGA) last week, according to South Korean news agency Yonhap.

The ministry further expressed strong regret over the Ukrainian Presidential Press Office's denial of the existence of the private agreement and has demanded an official explanation and apology from Kyiv, saying such actions seriously undermine trust between the two governments.

The Epoch Times contacted the South Korean and Ukrainian foreign ministries for comment but did not receive responses by publication time.

Zelenskyy revealed that the North Korean prisoners had been transferred to South Korea during his address to the UNGA on Sept. 23.

"Recently, we sent two North Korean prisoners of war to the Republic of Korea," Zelenskyy said in his address to the United Nations.

"These guys are not easy to capture alive. One of them, when he realized he was going to be taken prisoner, tried to kill himself. And he was shocked that fate didn't let him die.

"This is how they raise people in the North. It's reality. They take away their freedom. They take away their right to choose. And they drill into them that they must die, no matter what."

Since then, South Korean President Lee Jae Myung and his office have alleged that Ukraine breached a nondisclosure agreement between Seoul and Kyiv, designed to keep the transfer secret and protect the soldiers from potential repercussions.

Lee said in an X post the day after Zelenskyy's remarks to the U.N. that "state affairs should be conducted for the country and the people, not for the interests or popularity of the government or those in power."

"Of course there were internal arguments for disclosing the fact that the North Korean prisoners had been brought to South Korea, since it would clearly have helped recover the government's approval ratings," Lee said, but noted that "considering the various problems that disclosure would create, keeping it confidential was appropriate in every respect, and that is what was agreed."

He labeled the revelation about the prisoners' transfer "cruel and irresponsible," saying that he did not "know what circumstances the Ukrainian side may have had in disclosing this in violation of the confidentiality agreement, but it is deeply regrettable."

In a later statement from the South Korean Presidential Office on Sept. 27, senior presidential secretary for public relations Seong Ghi-hong also expressed "strong regret" over Zelenskyy's disclosure of the repatriation and the subsequent denial of any confidentiality agreement, according to Yonhap.

Seong said the Ukrainian government had asked for confidentiality, as the revelation could spark domestic criticism over Kyiv giving up the chance to exchange the North Korean prisoners for Ukrainian prisoners held by Russia.

Seoul agreed to keep the repatriation confidential because of security, diplomatic, and humanitarian concerns, including the safety of the prisoners and their families still in the north, he said.

Ukraine captured the two North Koreans in Russia's Kursk region in January 2025, with Zelenskyy at the time describing the pair as the first North Korean soldiers to be captured alive since Pyongyang sent troops to fight alongside Moscow's forces.

Tyler Durden Tue, 09/29/2026 - 03:30

Colombia Extradites Alleged Drug Lord ‘The Spider’ To California

Zero Hedge -

Colombia Extradites Alleged Drug Lord ‘The Spider’ To California

A Colombian rebel commander nicknamed “The Spider” is now in U.S. custody after a change in leadership in Bogotá cleared the way for his extradition, according to CBS.

Geovany Andres Rojas, also known as “Araña,” was transferred to California over the weekend, where prosecutors have charged him with drug trafficking and terrorism offenses tied to his alleged role in Colombia’s cocaine trade.

Rojas was a senior figure in Comandos de la Frontera, an armed organization operating primarily in Putumayo, a major coca-producing region near Colombia’s borders with Ecuador and Peru.

Colombian authorities arrested him in February 2025, and the country’s Supreme Court later authorized his extradition. But the transfer stalled under former President Gustavo Petro, whose government was pursuing negotiations with several armed factions. Petro gave Rojas a role in those talks, effectively keeping him in Colombia while negotiations continued.

That changed after conservative President Abelardo de la Espriella won office in June. His administration abandoned the previous government’s negotiations with rebel organizations and moved quickly to send Rojas to the United States.

CBS writes that De la Espriella personally oversaw the transfer and said Colombia should not shield accused drug traffickers in the name of pursuing peace. He also called on U.S. prosecutors to ensure any eventual agreement with Rojas does not allow him to avoid accountability.

Rojas’ extradition comes as Colombia continues struggling with armed groups that expanded after the historic 2016 peace agreement with FARC. More than 14,000 combatants disarmed under that deal, ending a decades-long conflict, but some fighters refused to participate while other organizations moved into territory previously controlled by FARC.

Those groups have increasingly competed for control of cocaine trafficking corridors, illegal mining and extortion operations in parts of rural Colombia where government authority remains limited.

Comandos de la Frontera was formed in the aftermath of the FARC agreement and includes former guerrillas who remained armed. The organization later partnered with Segunda Marquetalia, another FARC splinter faction, before the relationship collapsed.

Rojas is scheduled to appear in federal court Monday.

Tyler Durden Mon, 09/28/2026 - 22:10

Wage-Cuts Hit Hospital Workers In China As Financial Pressures Mount

Zero Hedge -

Wage-Cuts Hit Hospital Workers In China As Financial Pressures Mount

Authored by Michael Zhuang via The Epoch Times,

Workers at hospitals in several parts of China are facing cuts to wages and performance bonuses, with some medical workers reporting monthly base salaries of less than 2,000 yuan ($298) as public institutions struggle under mounting financial pressure.

A nurse moves a bed through a corridor at a hospital in Duan Yao autonomous county in Guangxi region, China, on Jan. 9, 2025. David Kirton/Reuters

The reductions are adding to financial concerns for workers already dealing with a weakening economy. Some hospitals have also been accused of delaying wages for months, while others have faced financial difficulties, including unpaid debts, drug shortages, and suspension of operations.

Several China-based individuals familiar with the matter spoke to The Epoch Times on condition of anonymity out of fear of reprisal.

An employee in the medical administration department of a public hospital in Hangzhou, surnamed Qian, told the publication that a hospital in the area cut nurses' monthly base salaries from 2,750 yuan ($410) to 2,200 yuan ($328) in August - a 20 percent reduction.

In Suzhou, Jiangsu Province, a resident surnamed Liu, whose family member works as a nurse at a public hospital, told The Epoch Times that the nurse's base salary had gradually fallen from 3,700 yuan ($551) per month before the COVID-19 pandemic to about 1,700 yuan ($253) today. The hospital has also stopped paying bonuses.

Hospitals Face Growing Wage Crisis

Reports of unpaid wages have also triggered protests by medical workers in several parts of China.

In November 2025, medical workers at Suihua People's Hospital in Heilongjiang Province staged a protest over unpaid wages. When The Epoch Times contacted the hospital's emergency department at the time, the person who answered the phone said employees had gone five or six months without receiving their salaries. The workers remained on the front line while continuing to seek payment of their wages and social security contributions.

Videos circulated online in April showing medical workers at Hedong Hospital in Linyi, Shandong Province, demanding unpaid wages. The Chinese labor rights X account @YesterdayBigcat said the protest took place on April 8 and 9.

The Epoch Times has also previously reported that a public hospital in Beijing required employees to return six months of performance bonuses that had already been paid.

In Jiangxi Province, Tianhu Hospital in Leping fell into financial difficulties following changes to health insurance policies and subsequently owed employees wages before dismissing its entire workforce, according to Chinese state media Xinhua News Agency. In 2024, Luxinan Hospital in Shandong entered bankruptcy liquidation proceedings after owing more than 600 employees eight months of wages, according to a hospital notice.

The cases illustrate the financial pressures facing some hospitals, although the circumstances vary from institution to institution.

Financial Pressure Affects Patients

Financial difficulties can also pressure hospitals to find other ways to generate revenue, according to an insider.

A public official working in a health department in Xuzhou, Jiangsu Province, surnamed Sun, told The Epoch Times that hospitals that receive partial government funding may face larger financial gaps when government allocations decline.

"Hospital funding is a differential appropriation system. If fiscal allocations decrease, the hospital has to find ways to generate revenue to make up for the shortfall, which means collecting it from patients by raising fees," Sun said. "But now ordinary people can't afford to see a doctor, so fewer people are going to hospitals, and the hospitals' losses become even greater."

He said some hospitals in Jiangsu had faced complaints over their charges and were penalized by authorities. After some hospitals were required to restore their previous fee schedules, their revenues declined further, widening their fiscal gaps.

Ye Zilong contributed to this report.

Tyler Durden Mon, 09/28/2026 - 21:45

Data Center Backup Power Contributes To Health Risks: Report

Zero Hedge -

Data Center Backup Power Contributes To Health Risks: Report

By Robert Freedman of UtilityDive

Federal regulatory changes impacting enforcement of on-site backup generator emissions are contributing to increased data center health risks, a report says. 

Air pollution from data centers could increase healthcare costs by almost $21 billion by 2028, contributing to roughly 600,000 asthma cases and 1,300 premature deaths, says the Environmental Protection Network, a nonprofit whose members are former public officials who maintain an interest in environmental policy. 

Much of the health risk is from federal regulatory changes made to help utilities meet data center energy demand, like expanding the use of coal and keeping coal and other combustion-based power plants online rather than phasing them out. But a portion of the risk is from regulatory changes that pave the way for data centers to maintain on-site backup power, EPN says in its Hidden Health Costs of AI Data Centers report.  

“These engines and turbines can emit nitrogen oxides, smog-forming volatile organic compounds, and soot pollution,” the report says. “The combined generating capacity of a large generator or turbine fleet can rival that of a conventional power plant.”

In Virginia, the emissions from on-site generators emitting just 10% of the levels allowed under their air permits will contribute to some 14,000 asthma symptom cases, 13 to 19 premature deaths and $220 million to $300 million in annual public-health costs, says the report, drawing on estimates released earlier this year by researchers. 

Several regulatory actions are helping to fuel risks from on-site generation, the report says: 

Temporary turbine category. A rule the U.S. Environmental Protection Agency finalized earlier this year created a category of small and medium temporary turbines that can remain on site for up to two years with substantially reduced monitoring, recordkeeping and reporting requirements. “Those requirements matter not only for estimating pollution, but for determining whether equipment is operating as permitted and whether pollution limits are being met,” the report says. As a result of the rule, 89% more nitrogen oxide is expected to be released into the air annually than would have been the case under a more restrictive 2024 version of the rule that the Trump administration scrapped, the report says. 

The report points to the high-profile lawsuit that was filed against xAI for its data center in Southaven, Mississippi. The dispute is over whether it received appropriate permits for its use of temporary or mobile on-site turbines to generate backup power. “The company and Mississippi regulators dispute that a permit was required,” the report says. “The dispute illustrates why clear permitting requirements and consistent enforcement become more important as equipment labeled ’backup, ‘temporary,’ or ‘mobile’ is used more extensively to supply power.”

Demand-response participation. An interpretive letter EPA released last year lets operators of on-site emergency backup generation use their generators to participate in utility demand-response programs. The report doesn’t mention that the letter is limited to on-site generators that operate within the jurisdiction of a local balancing authority. It “does not extend to Regional Transmission Organizations (RTOs) or Independent System Operators (ISOs),” an analysis by standby power compliance company BackupPower AI says.   

Emergency generation. In another action that lets operators use their on-site generation at certain times, the U.S. Department of Energy earlier this year issued an emergency order authorizing the PJM Interconnection to use backup generation at data centers and other major facilities to help it manage demand. The order was issued in May, when parts of the Northeast and Midwest were going through a hot spell at the same time that many utilities within PJM’s jurisdiction were preparing planned outages for annual maintenance. “Their use during heat waves and other periods of grid stress adds smog-forming nitrogen oxides and fine-particle soot pollution at times when extreme heat and existing air pollution already place people at greater risk,” the report says. 

The report lists 30 federal regulatory actions in all that it says risk increasing pollution from data centers, many of them easing rules on utilities and some easing rules on non-utility power plants — such as a rule exempting private power facilities from acid rain program permits, emissions requirements and standardized reporting requirements.

Tyler Durden Mon, 09/28/2026 - 19:15

Data Center Backup Power Contributes To Health Risks: Report

Zero Hedge -

Data Center Backup Power Contributes To Health Risks: Report

By Robert Freedman of UtilityDive

Federal regulatory changes impacting enforcement of on-site backup generator emissions are contributing to increased data center health risks, a report says. 

Air pollution from data centers could increase healthcare costs by almost $21 billion by 2028, contributing to roughly 600,000 asthma cases and 1,300 premature deaths, says the Environmental Protection Network, a nonprofit whose members are former public officials who maintain an interest in environmental policy. 

Much of the health risk is from federal regulatory changes made to help utilities meet data center energy demand, like expanding the use of coal and keeping coal and other combustion-based power plants online rather than phasing them out. But a portion of the risk is from regulatory changes that pave the way for data centers to maintain on-site backup power, EPN says in its Hidden Health Costs of AI Data Centers report.  

“These engines and turbines can emit nitrogen oxides, smog-forming volatile organic compounds, and soot pollution,” the report says. “The combined generating capacity of a large generator or turbine fleet can rival that of a conventional power plant.”

In Virginia, the emissions from on-site generators emitting just 10% of the levels allowed under their air permits will contribute to some 14,000 asthma symptom cases, 13 to 19 premature deaths and $220 million to $300 million in annual public-health costs, says the report, drawing on estimates released earlier this year by researchers. 

Several regulatory actions are helping to fuel risks from on-site generation, the report says: 

Temporary turbine category. A rule the U.S. Environmental Protection Agency finalized earlier this year created a category of small and medium temporary turbines that can remain on site for up to two years with substantially reduced monitoring, recordkeeping and reporting requirements. “Those requirements matter not only for estimating pollution, but for determining whether equipment is operating as permitted and whether pollution limits are being met,” the report says. As a result of the rule, 89% more nitrogen oxide is expected to be released into the air annually than would have been the case under a more restrictive 2024 version of the rule that the Trump administration scrapped, the report says. 

The report points to the high-profile lawsuit that was filed against xAI for its data center in Southaven, Mississippi. The dispute is over whether it received appropriate permits for its use of temporary or mobile on-site turbines to generate backup power. “The company and Mississippi regulators dispute that a permit was required,” the report says. “The dispute illustrates why clear permitting requirements and consistent enforcement become more important as equipment labeled ’backup, ‘temporary,’ or ‘mobile’ is used more extensively to supply power.”

Demand-response participation. An interpretive letter EPA released last year lets operators of on-site emergency backup generation use their generators to participate in utility demand-response programs. The report doesn’t mention that the letter is limited to on-site generators that operate within the jurisdiction of a local balancing authority. It “does not extend to Regional Transmission Organizations (RTOs) or Independent System Operators (ISOs),” an analysis by standby power compliance company BackupPower AI says.   

Emergency generation. In another action that lets operators use their on-site generation at certain times, the U.S. Department of Energy earlier this year issued an emergency order authorizing the PJM Interconnection to use backup generation at data centers and other major facilities to help it manage demand. The order was issued in May, when parts of the Northeast and Midwest were going through a hot spell at the same time that many utilities within PJM’s jurisdiction were preparing planned outages for annual maintenance. “Their use during heat waves and other periods of grid stress adds smog-forming nitrogen oxides and fine-particle soot pollution at times when extreme heat and existing air pollution already place people at greater risk,” the report says. 

The report lists 30 federal regulatory actions in all that it says risk increasing pollution from data centers, many of them easing rules on utilities and some easing rules on non-utility power plants — such as a rule exempting private power facilities from acid rain program permits, emissions requirements and standardized reporting requirements.

Tyler Durden Mon, 09/28/2026 - 19:15

US Cattle Slaughter Plunges 16% In One Week As Immigration Crackdown Guts Kansas "Golden Triangle" Workforce

Zero Hedge -

US Cattle Slaughter Plunges 16% In One Week As Immigration Crackdown Guts Kansas "Golden Triangle" Workforce

A heightened wave of federal immigration enforcement in southwest Kansas has sent a shockwave through the U.S. beef supply chain, causing severe processing plant slowdowns, stranding thousands of cattle at feedlots, and threatening to drive up consumer meat prices.

U.S. cattle slaughter plummeted 16% in one week to an estimated 90,000 head on Thursday, September 24, as fear of Immigration and Customs Enforcement (ICE) activity led to widespread workforce absenteeism. By Friday, slaughter numbers remained 14% below the previous week's levels, translating into millions of dollars in lost revenue for producers whose animals are suddenly backed up.

The disruptions are centered in the Kansas "Golden Triangle" of commercial beef packing, which encompasses Dodge City, Liberal, and Garden City. This rural region is home to massive facilities operated by Cargill, Tyson Foods, and National Beef. Collectively, these plants process roughly 24,000 head of cattle per day, representing more than 20% of daily U.S. fed-cattle slaughter capacity.

Agricultural groups, including the Kansas Livestock Association, Texas Cattle Feeders Association, and Oklahoma Cattlemen's Association, warned that the unannounced enforcement actions are creating supply-chain chokepoints from feedyards to processors. In a joint statement, the organizations said the ICE presence has created a "massive chilling effect on the legal, documented, skilled workers that put beef on the table and keep the cattle supply chain moving."

The Department of Homeland Security has pushed back against characterizations of the sweeps as worksite raids. "ICE is not conducting worksite operations in Kansas," Homeland Security Secretary Markwayne Mullin said, adding that agents are targeting "heinous criminals including murderers, rapists, and drug traffickers and illegal aliens with final orders of removal." However, the heavy presence of federal agents near packing plants and in local communities has kept many of the region's agricultural workers at home.

Local officials from Dodge City, Garden City, and Liberal reported receiving no advance notice of the federal operation. "When ICE operates in Kansas, it needs to coordinate with our local law enforcement," said Sen. Roger Marshall, who along with fellow Kansas Republican Sen. Jerry Moran has pressed DHS on the operation. "Our community is a ghost town," Liberal's vice mayor told Reuters. "Businesses are not open because people are scared to leave their homes."

The labor shock arrives at a particularly sensitive time for the cattle market. Driven by prolonged drought, the U.S. cattle herd has shrunk to its smallest size in roughly 75 years. This historically tight physical market caused cattle futures to gyrate wildly this week as traders weighed the sudden loss of processing capacity against limited animal supplies. Texas Agriculture Commissioner Sid Miller said ranchers are receiving $300 to $500 less per head for their cattle.

The situation presents a unique policy collision in Washington. The Trump administration has actively sought to lower historically high consumer beef prices by expanding access to imported meat and enacting other supply-side measures. However, the abrupt reduction in domestic processing capacity - triggered by the administration's own immigration enforcement push - directly undercuts those efforts.

As the backlog grows, market-ready animals are getting heavier at feedlots, piling up feed costs and creating animal welfare concerns. Industry groups warn that if the Kansas bottleneck persists, fewer cattle moving through packing plants will mean less beef on supermarket shelves - and higher prices at the meat counter.

Tyler Durden Mon, 09/28/2026 - 18:50

US Cattle Slaughter Plunges 16% In One Week As Immigration Crackdown Guts Kansas "Golden Triangle" Workforce

Zero Hedge -

US Cattle Slaughter Plunges 16% In One Week As Immigration Crackdown Guts Kansas "Golden Triangle" Workforce

A heightened wave of federal immigration enforcement in southwest Kansas has sent a shockwave through the U.S. beef supply chain, causing severe processing plant slowdowns, stranding thousands of cattle at feedlots, and threatening to drive up consumer meat prices.

U.S. cattle slaughter plummeted 16% in one week to an estimated 90,000 head on Thursday, September 24, as fear of Immigration and Customs Enforcement (ICE) activity led to widespread workforce absenteeism. By Friday, slaughter numbers remained 14% below the previous week's levels, translating into millions of dollars in lost revenue for producers whose animals are suddenly backed up.

The disruptions are centered in the Kansas "Golden Triangle" of commercial beef packing, which encompasses Dodge City, Liberal, and Garden City. This rural region is home to massive facilities operated by Cargill, Tyson Foods, and National Beef. Collectively, these plants process roughly 24,000 head of cattle per day, representing more than 20% of daily U.S. fed-cattle slaughter capacity.

Agricultural groups, including the Kansas Livestock Association, Texas Cattle Feeders Association, and Oklahoma Cattlemen's Association, warned that the unannounced enforcement actions are creating supply-chain chokepoints from feedyards to processors. In a joint statement, the organizations said the ICE presence has created a "massive chilling effect on the legal, documented, skilled workers that put beef on the table and keep the cattle supply chain moving."

The Department of Homeland Security has pushed back against characterizations of the sweeps as worksite raids. "ICE is not conducting worksite operations in Kansas," Homeland Security Secretary Markwayne Mullin said, adding that agents are targeting "heinous criminals including murderers, rapists, and drug traffickers and illegal aliens with final orders of removal." However, the heavy presence of federal agents near packing plants and in local communities has kept many of the region's agricultural workers at home.

Local officials from Dodge City, Garden City, and Liberal reported receiving no advance notice of the federal operation. "When ICE operates in Kansas, it needs to coordinate with our local law enforcement," said Sen. Roger Marshall, who along with fellow Kansas Republican Sen. Jerry Moran has pressed DHS on the operation. "Our community is a ghost town," Liberal's vice mayor told Reuters. "Businesses are not open because people are scared to leave their homes."

The labor shock arrives at a particularly sensitive time for the cattle market. Driven by prolonged drought, the U.S. cattle herd has shrunk to its smallest size in roughly 75 years. This historically tight physical market caused cattle futures to gyrate wildly this week as traders weighed the sudden loss of processing capacity against limited animal supplies. Texas Agriculture Commissioner Sid Miller said ranchers are receiving $300 to $500 less per head for their cattle.

The situation presents a unique policy collision in Washington. The Trump administration has actively sought to lower historically high consumer beef prices by expanding access to imported meat and enacting other supply-side measures. However, the abrupt reduction in domestic processing capacity - triggered by the administration's own immigration enforcement push - directly undercuts those efforts.

As the backlog grows, market-ready animals are getting heavier at feedlots, piling up feed costs and creating animal welfare concerns. Industry groups warn that if the Kansas bottleneck persists, fewer cattle moving through packing plants will mean less beef on supermarket shelves - and higher prices at the meat counter.

Tyler Durden Mon, 09/28/2026 - 18:50

Saylor Outlines 'Bill Of Digital Rights' To Help Build Prosperity In Future Economy

Zero Hedge -

Saylor Outlines 'Bill Of Digital Rights' To Help Build Prosperity In Future Economy

Authored by Michael Millard via Cointelegraph,

Michael Saylor, co-founder of Strategy, said that an age of digital assets and intelligence needs a "bill of digital rights," rather than restrictions.

An age of AI can increase production, but it needs better money and capital markets to realize its potential, according to an essay that Saylor, executive chairman of world's largest corporate Bitcoin holder, posted on X Saturday.

A useful framework for digital assets should establish five fundamental rights, or freedoms, Saylor wrote.

These rights include (1) the freedom to create new digital assets and (2) to issue them to the market to finance business and productivity. They also include (3) the right to hold them or choose a custodian, as well as (4) to transfer them, to move the assets among people, companies, wallets and service providers. Finally, (5) to use them, to spend, invest, earn income and borrow against digital assets.

These rights should apply to both people and companies, Saylor wrote. "An asset's value depends on what its owner can do with it. Restrict its usefulness, and you restrict its economic potential," he said.

As digital intelligence will automate jobs and make many products obsolete, future prosperity will depend on our ability to create new businesses and opportunities at a faster pace, Saylor wrote, adding that "our ambition should be to enable 10 million new companies to raise capital."

Cointelegraph reported on Monday that Strategy had resumed buying Bitcoin after a two-week pause, acquiring 950 Bitcoin (BTC) for $75.7 million at an average price of $79,670 per coin.

Digital dollars should be allowed to compete

This brought Strategy's holdings to 846,000 BTC, acquired for about $63.8 billion at an average cost of $75,416 per coin. Bitcoin was trading at about $84,523 at the time of publication.

Saylor also wrote in his essay that "protecting existing business models while making it difficult to finance their successors leaves the economy poorly prepared for technological change."

Therefore, digital dollars should be allowed to compete on yield and "move at the speed of light," he said. Banks, financial technology companies and technology platforms should offer digital dollars through the devices and applications people already use.

"Where the law prevents it, the law should change," Saylor added.

Tyler Durden Mon, 09/28/2026 - 18:25

Saylor Outlines 'Bill Of Digital Rights' To Help Build Prosperity In Future Economy

Zero Hedge -

Saylor Outlines 'Bill Of Digital Rights' To Help Build Prosperity In Future Economy

Authored by Michael Millard via Cointelegraph,

Michael Saylor, co-founder of Strategy, said that an age of digital assets and intelligence needs a "bill of digital rights," rather than restrictions.

An age of AI can increase production, but it needs better money and capital markets to realize its potential, according to an essay that Saylor, executive chairman of world's largest corporate Bitcoin holder, posted on X Saturday.

A useful framework for digital assets should establish five fundamental rights, or freedoms, Saylor wrote.

These rights include (1) the freedom to create new digital assets and (2) to issue them to the market to finance business and productivity. They also include (3) the right to hold them or choose a custodian, as well as (4) to transfer them, to move the assets among people, companies, wallets and service providers. Finally, (5) to use them, to spend, invest, earn income and borrow against digital assets.

These rights should apply to both people and companies, Saylor wrote. "An asset's value depends on what its owner can do with it. Restrict its usefulness, and you restrict its economic potential," he said.

As digital intelligence will automate jobs and make many products obsolete, future prosperity will depend on our ability to create new businesses and opportunities at a faster pace, Saylor wrote, adding that "our ambition should be to enable 10 million new companies to raise capital."

Cointelegraph reported on Monday that Strategy had resumed buying Bitcoin after a two-week pause, acquiring 950 Bitcoin (BTC) for $75.7 million at an average price of $79,670 per coin.

Digital dollars should be allowed to compete

This brought Strategy's holdings to 846,000 BTC, acquired for about $63.8 billion at an average cost of $75,416 per coin. Bitcoin was trading at about $84,523 at the time of publication.

Saylor also wrote in his essay that "protecting existing business models while making it difficult to finance their successors leaves the economy poorly prepared for technological change."

Therefore, digital dollars should be allowed to compete on yield and "move at the speed of light," he said. Banks, financial technology companies and technology platforms should offer digital dollars through the devices and applications people already use.

"Where the law prevents it, the law should change," Saylor added.

Tyler Durden Mon, 09/28/2026 - 18:25

Bill Maher Credits Falling Crime To Trump's 'FAFO' Image

Zero Hedge -

Bill Maher Credits Falling Crime To Trump's 'FAFO' Image

Of all people, Democrat Bill Maher believes President Trump’s aggressive image may be playing a role in America’s ongoing decline in crime.

On Friday’s “Real Time,” Maher argued that while falling crime has plenty of potential explanations, it would be foolish to completely dismiss the psychological effect of having a president who openly projects a law-and-order persona, according to the NY Post.

“It’s just childish to pretend that when you elect a “f— around and find out” president, a ‘no more Mr. Nice Guy-booting-your-ass-V-for-vendetta-kick-ass—and-take-names-say-hello-to-my-little-friend’ president, that’s not going to have some effect on crime,” Maher said to laughs from his studio audience.

He was quick to make clear that Trump wasn’t the only explanation. Crime was already moving lower before Trump returned to the White House, and Maher pointed to America’s increasingly pervasive surveillance as another possible factor.

“It’s not just drug crime that’s way down – it’s all crime. And again, probably much of it is not political. It’s because you can’t move two inches in America without being tracked, photographed, and followed by a flock camera,” he quipped.

The Post writes that Maher also argued that policies traditionally associated with Democrats deserve some credit, particularly programs aimed at reducing economic desperation.

“But it’s also because when Democrats expand the safety net, there are less desperate people – and because Trump is a badass. No, I don’t agree with many of his methods, like how they sometimes just deport people to countries where they have absolutely no connection – like Meghan and Harry,” he said. “Is doing it this way the right thing? No.”

During the segment, Maher referenced an Atlantic piece examining the country’s broader decline in violent crime. FBI figures cited in the discussion showed the trend beginning during the Biden years and continuing under Trump. Other explanations have included changes in policing, a strong labor market and federal support sent to state and local governments during the pandemic.

But Maher’s closing argument was that Trump’s cultivated image of toughness may be reinforcing the trend.

“He has UFC fights on the lawn. I think the bad guys got the message,” he said.

Tyler Durden Mon, 09/28/2026 - 18:00

Bill Maher Credits Falling Crime To Trump's 'FAFO' Image

Zero Hedge -

Bill Maher Credits Falling Crime To Trump's 'FAFO' Image

Of all people, Democrat Bill Maher believes President Trump’s aggressive image may be playing a role in America’s ongoing decline in crime.

On Friday’s “Real Time,” Maher argued that while falling crime has plenty of potential explanations, it would be foolish to completely dismiss the psychological effect of having a president who openly projects a law-and-order persona, according to the NY Post.

“It’s just childish to pretend that when you elect a “f— around and find out” president, a ‘no more Mr. Nice Guy-booting-your-ass-V-for-vendetta-kick-ass—and-take-names-say-hello-to-my-little-friend’ president, that’s not going to have some effect on crime,” Maher said to laughs from his studio audience.

He was quick to make clear that Trump wasn’t the only explanation. Crime was already moving lower before Trump returned to the White House, and Maher pointed to America’s increasingly pervasive surveillance as another possible factor.

“It’s not just drug crime that’s way down – it’s all crime. And again, probably much of it is not political. It’s because you can’t move two inches in America without being tracked, photographed, and followed by a flock camera,” he quipped.

The Post writes that Maher also argued that policies traditionally associated with Democrats deserve some credit, particularly programs aimed at reducing economic desperation.

“But it’s also because when Democrats expand the safety net, there are less desperate people – and because Trump is a badass. No, I don’t agree with many of his methods, like how they sometimes just deport people to countries where they have absolutely no connection – like Meghan and Harry,” he said. “Is doing it this way the right thing? No.”

During the segment, Maher referenced an Atlantic piece examining the country’s broader decline in violent crime. FBI figures cited in the discussion showed the trend beginning during the Biden years and continuing under Trump. Other explanations have included changes in policing, a strong labor market and federal support sent to state and local governments during the pandemic.

But Maher’s closing argument was that Trump’s cultivated image of toughness may be reinforcing the trend.

“He has UFC fights on the lawn. I think the bad guys got the message,” he said.

Tyler Durden Mon, 09/28/2026 - 18:00

More Hospitals Are Being Bought By Private Equity; Here's How It's Changing Healthcare...

Zero Hedge -

More Hospitals Are Being Bought By Private Equity; Here's How It's Changing Healthcare...

Authored by Lawrence Wilson and Sylvia Xu via The Epoch Times,

There's a greater than one in 10 chance your hospital is owned by someone who's trying to double their money in seven years.

If you live in Kentucky, your chances are one in six. In New Mexico, more than one in three.

Walk into an emergency room, and there's a 40 percent chance the doctor who stitches you up works for a staffing company owned by private investors, not the hospital.

At a time when less than half of Americans report being consistently able to afford healthcare, private investors are looking to hospitals and physician practices as a source of profit.

Private equity firms, which invest money on behalf of pension funds, universities, sovereign wealth funds, and wealthy individuals, buy healthcare providers expecting them to produce a better return than the stock market.

That may be no surprise to the 82 million Americans who make tradeoffs such as choosing between buying food and going to the doctor, nor to the nearly half of Americans with healthcare debt who have drained their savings to pay medical bills.

Providers are attractive targets for private investors for the same reasons any business might be, according to analysts.

Hospitals and physician practices are virtually recession-proof. They're fueled by a steady supply of aging customers. Historically, there have been lots of small, independent operators in the healthcare industry, ripe for consolidation. And they need vast amounts of capital to expand or even maintain complex facilities.

Private investors bring the business savvy and operational know-how that many healthcare providers lack. That has made physician offices and hospitals more efficient and productive, analysts say.

"Private equity has made a tremendous amount of investments in health technologies," Kelly Arduino, an executive with 25-years' experience in healthcare management, told The Epoch Times. "That's where we would see the biggest success."

But that success comes at a price.

Gains in efficiency and value to investors have left some hospitals bereft of real assets, loaded with debt, and struggling to maintain quality care, some studies indicate.

Private investors are buying into the healthcare system to extract profit, which can permanently change the structure of a healthcare institution, sometimes for the worse.

Debt Loading

When private equity firms buy an independent hospital or physician practice, they finance the deal mostly with borrowed money.

Investors typically put in between 10 percent and 40 percent of the funding and get the rest from commercial lenders, institutional investors, or high-yield bonds.

But the actual borrower is the provider. The hospital or physician practice takes on the debt and must repay it, often paying management fees to the equity firm as well.

And because the investors typically convert the provider from nonprofit to for-profit status, the provider is also liable for taxes.

When the provider is eventually resold, the debt will likely be paid off from the proceeds. But the new owner, often another private equity firm, may finance its purchase with debt, too.

So hospitals and physician practices can be left with ongoing debt for the sake of generating a profit for private investors.

There's evidence that debt loading negatively impacts the long-term financial health of these institutions.

A 2025 study of more than 200 hospitals owned by private equity firms found that those re-resold to another private equity group saw operating margins decrease more than 8 percent compared to those sold to other for-profit owners.

Yet even some critics agree that private investment in healthcare can be useful if done responsibly.

"Private investments can sometimes be an important source of capital, especially for small to mid-sized companies that can benefit from the access that this financing provides," Lina M. Khan, former chair of the Federal Trade Commission, wrote in 2024.

Staff Cuts

Private-equity investment in healthcare came under scrutiny by Congress following the 2024 bankruptcy of Steward Health Care, a chain of 31 hospitals. Many attributed Steward's collapse to its years under ownership by private equity.

Yet overall, hospitals owned by private investors are not more likely to close than are other hospitals, research shows.

A more consistent problem is significant staff reductions, which affects physician morale and patient satisfaction, according to a 2025 report by a team of academic researchers.

After private-equity takeover, provider staffing was reduced by 6 percent over four years and stayed that way longterm, according to a study of hospital acquisitions.

While the number of doctors, nurses, and other care providers did bounce back, support staffing did not. It was cut an overall 20 percent.

That saved money on wages: about 7 percent in the first four years, and up to 9 percent after eight years.

That focus on efficiency has changed the dynamics of the workplace.

"I think where private equity has struggled the most is in dealing with a lot of professional services providers. So that would be physician practices," Arduino said.

Patients complain of doctors who are overly busy, long wait times for appointments, driving farther for care, and being rushed through their brief visits with physicians.

More than four in 10 doctors reported symptoms of burnout in 2025, according to the American Medical Association. That's despite a recent decline in job stress since the COVID-19 era.

One reason is the increased pace of work, said Robert Andrews, CEO of the Health Transformation Alliance.

"The doctor who's had four or five appointments per hour ... now has seven," Andrews told The Epoch Times. That leads to long days catching up on paperwork and feeling fatigued, he told The Epoch Times.

Beyond that, physicians often feel handcuffed by the clock, prevented from spending the extra minutes with a patient that might improve patient care, Andrews said. "They feel like their professional autonomy has been robbed from them," he said.

That problem is not unique to private equity-owned hospitals and physician practices.

But it has roots in the rapid consolidation of the healthcare industry that began in the 2010s, which some analysts call a "glorious time" for private investment.

This focus on efficiency changed the mindset of entire hospital systems, said Dr. Patricia Martin, an anesthesiologist in practice for more than 20 years.

"They're not in the business of providing the best medicine. They're in the business of providing good-enough medicine for the largest number of people," Martin told The Epoch Times.

Supporters of private investment say there is no evidence that mortality rates increase under private equity ownership.

Yet hospitals owned by private investors were found to have higher rates of falls and hospital-acquired infections, lower patient satisfaction, and lower scores in standardized quality ratings.

Asset Stripping

One reason the Steward Health Care bankruptcy drew criticism was the allegation that former owner Cerberus Capital Management had sold some of its real assets before selling it in 2020.

Cerberus created Steward Health Care, starting with six financially troubled hospitals acquired from the Catholic Archdioceses of Boston, in 2010.

Cerberus stated that the hospital system was financially sound with more than $400 million in cash when sold to other investors in 2020.

However, critics noted that Steward had earlier sold 13 medical office buildings and the campus of one hospital to a real estate trust, then leased them back.

That tactic is common among private equity investors and is not unique to healthcare.

Many real-estate intensive businesses do this to raise capital and to make the cost of occupying the property more predictable.

While this practice does not affect the provider's immediate financial picture, researchers found that it does have a longer term impact.

Hospitals that sold their real estate to a real estate investment trust had a significant decrease in fixed asset value, and were about six times more likely to close or file bankruptcy than other hospitals, according to a 2025 study.

Yet the Center for Economic and Policy Research found a pattern of private equity companies using the proceeds from hospital and nursing home real estate sales to pay dividends to investors rather than making capital improvements. At the same time, the new real estate owners sometimes charged the healthcare providers inflated rents.

Better Incentives

While the dangers of private equity investment in healthcare are real, industry insiders warn against applying blanket solutions.

Not all hospital failures can be laid at the feet of investors, Arduino said.

"When I look at the hospitals that have struggled or failed, it's not a function of private equity. It's a function of long-term mismanagement, operational challenges, disconnected systems, and poor reimbursement," she said. "The hospital business is super hard."

Kahn was critical of what she called "strip and flip" tactics used by some private investors. But, she said, "some private equity firms take a more long-term view and focus on creating real operational improvements to generate value in ways that provide broader benefits."

Andrews, whose firm works with more than a dozen physician groups owned by private-equity firms, said the ownership structure is far less important than the rules by which they operate.

"If you incent primary care practices to rush people in and out the door, that's what they'll do," Andrews said. "If you incent them to spend time, understand what's going on with the patient, and reward them when the patient's healthier, that's what they'll do."

Nine states have enacted legislation regarding private-equity investment in hospitals since 2024. Most involve notification requirements regarding changes of hospital ownership.

A Connecticut law bars private-equity owners from having a majority stake in a hospital or interfering with clinical decision making, and prohibits hospital sale-and-lease-back transactions.

Tyler Durden Mon, 09/28/2026 - 17:40

More Hospitals Are Being Bought By Private Equity; Here's How It's Changing Healthcare...

Zero Hedge -

More Hospitals Are Being Bought By Private Equity; Here's How It's Changing Healthcare...

Authored by Lawrence Wilson and Sylvia Xu via The Epoch Times,

There's a greater than one in 10 chance your hospital is owned by someone who's trying to double their money in seven years.

If you live in Kentucky, your chances are one in six. In New Mexico, more than one in three.

Walk into an emergency room, and there's a 40 percent chance the doctor who stitches you up works for a staffing company owned by private investors, not the hospital.

At a time when less than half of Americans report being consistently able to afford healthcare, private investors are looking to hospitals and physician practices as a source of profit.

Private equity firms, which invest money on behalf of pension funds, universities, sovereign wealth funds, and wealthy individuals, buy healthcare providers expecting them to produce a better return than the stock market.

That may be no surprise to the 82 million Americans who make tradeoffs such as choosing between buying food and going to the doctor, nor to the nearly half of Americans with healthcare debt who have drained their savings to pay medical bills.

Providers are attractive targets for private investors for the same reasons any business might be, according to analysts.

Hospitals and physician practices are virtually recession-proof. They're fueled by a steady supply of aging customers. Historically, there have been lots of small, independent operators in the healthcare industry, ripe for consolidation. And they need vast amounts of capital to expand or even maintain complex facilities.

Private investors bring the business savvy and operational know-how that many healthcare providers lack. That has made physician offices and hospitals more efficient and productive, analysts say.

"Private equity has made a tremendous amount of investments in health technologies," Kelly Arduino, an executive with 25-years' experience in healthcare management, told The Epoch Times. "That's where we would see the biggest success."

But that success comes at a price.

Gains in efficiency and value to investors have left some hospitals bereft of real assets, loaded with debt, and struggling to maintain quality care, some studies indicate.

Private investors are buying into the healthcare system to extract profit, which can permanently change the structure of a healthcare institution, sometimes for the worse.

Debt Loading

When private equity firms buy an independent hospital or physician practice, they finance the deal mostly with borrowed money.

Investors typically put in between 10 percent and 40 percent of the funding and get the rest from commercial lenders, institutional investors, or high-yield bonds.

But the actual borrower is the provider. The hospital or physician practice takes on the debt and must repay it, often paying management fees to the equity firm as well.

And because the investors typically convert the provider from nonprofit to for-profit status, the provider is also liable for taxes.

When the provider is eventually resold, the debt will likely be paid off from the proceeds. But the new owner, often another private equity firm, may finance its purchase with debt, too.

So hospitals and physician practices can be left with ongoing debt for the sake of generating a profit for private investors.

There's evidence that debt loading negatively impacts the long-term financial health of these institutions.

A 2025 study of more than 200 hospitals owned by private equity firms found that those re-resold to another private equity group saw operating margins decrease more than 8 percent compared to those sold to other for-profit owners.

Yet even some critics agree that private investment in healthcare can be useful if done responsibly.

"Private investments can sometimes be an important source of capital, especially for small to mid-sized companies that can benefit from the access that this financing provides," Lina M. Khan, former chair of the Federal Trade Commission, wrote in 2024.

Staff Cuts

Private-equity investment in healthcare came under scrutiny by Congress following the 2024 bankruptcy of Steward Health Care, a chain of 31 hospitals. Many attributed Steward's collapse to its years under ownership by private equity.

Yet overall, hospitals owned by private investors are not more likely to close than are other hospitals, research shows.

A more consistent problem is significant staff reductions, which affects physician morale and patient satisfaction, according to a 2025 report by a team of academic researchers.

After private-equity takeover, provider staffing was reduced by 6 percent over four years and stayed that way longterm, according to a study of hospital acquisitions.

While the number of doctors, nurses, and other care providers did bounce back, support staffing did not. It was cut an overall 20 percent.

That saved money on wages: about 7 percent in the first four years, and up to 9 percent after eight years.

That focus on efficiency has changed the dynamics of the workplace.

"I think where private equity has struggled the most is in dealing with a lot of professional services providers. So that would be physician practices," Arduino said.

Patients complain of doctors who are overly busy, long wait times for appointments, driving farther for care, and being rushed through their brief visits with physicians.

More than four in 10 doctors reported symptoms of burnout in 2025, according to the American Medical Association. That's despite a recent decline in job stress since the COVID-19 era.

One reason is the increased pace of work, said Robert Andrews, CEO of the Health Transformation Alliance.

"The doctor who's had four or five appointments per hour ... now has seven," Andrews told The Epoch Times. That leads to long days catching up on paperwork and feeling fatigued, he told The Epoch Times.

Beyond that, physicians often feel handcuffed by the clock, prevented from spending the extra minutes with a patient that might improve patient care, Andrews said. "They feel like their professional autonomy has been robbed from them," he said.

That problem is not unique to private equity-owned hospitals and physician practices.

But it has roots in the rapid consolidation of the healthcare industry that began in the 2010s, which some analysts call a "glorious time" for private investment.

This focus on efficiency changed the mindset of entire hospital systems, said Dr. Patricia Martin, an anesthesiologist in practice for more than 20 years.

"They're not in the business of providing the best medicine. They're in the business of providing good-enough medicine for the largest number of people," Martin told The Epoch Times.

Supporters of private investment say there is no evidence that mortality rates increase under private equity ownership.

Yet hospitals owned by private investors were found to have higher rates of falls and hospital-acquired infections, lower patient satisfaction, and lower scores in standardized quality ratings.

Asset Stripping

One reason the Steward Health Care bankruptcy drew criticism was the allegation that former owner Cerberus Capital Management had sold some of its real assets before selling it in 2020.

Cerberus created Steward Health Care, starting with six financially troubled hospitals acquired from the Catholic Archdioceses of Boston, in 2010.

Cerberus stated that the hospital system was financially sound with more than $400 million in cash when sold to other investors in 2020.

However, critics noted that Steward had earlier sold 13 medical office buildings and the campus of one hospital to a real estate trust, then leased them back.

That tactic is common among private equity investors and is not unique to healthcare.

Many real-estate intensive businesses do this to raise capital and to make the cost of occupying the property more predictable.

While this practice does not affect the provider's immediate financial picture, researchers found that it does have a longer term impact.

Hospitals that sold their real estate to a real estate investment trust had a significant decrease in fixed asset value, and were about six times more likely to close or file bankruptcy than other hospitals, according to a 2025 study.

Yet the Center for Economic and Policy Research found a pattern of private equity companies using the proceeds from hospital and nursing home real estate sales to pay dividends to investors rather than making capital improvements. At the same time, the new real estate owners sometimes charged the healthcare providers inflated rents.

Better Incentives

While the dangers of private equity investment in healthcare are real, industry insiders warn against applying blanket solutions.

Not all hospital failures can be laid at the feet of investors, Arduino said.

"When I look at the hospitals that have struggled or failed, it's not a function of private equity. It's a function of long-term mismanagement, operational challenges, disconnected systems, and poor reimbursement," she said. "The hospital business is super hard."

Kahn was critical of what she called "strip and flip" tactics used by some private investors. But, she said, "some private equity firms take a more long-term view and focus on creating real operational improvements to generate value in ways that provide broader benefits."

Andrews, whose firm works with more than a dozen physician groups owned by private-equity firms, said the ownership structure is far less important than the rules by which they operate.

"If you incent primary care practices to rush people in and out the door, that's what they'll do," Andrews said. "If you incent them to spend time, understand what's going on with the patient, and reward them when the patient's healthier, that's what they'll do."

Nine states have enacted legislation regarding private-equity investment in hospitals since 2024. Most involve notification requirements regarding changes of hospital ownership.

A Connecticut law bars private-equity owners from having a majority stake in a hospital or interfering with clinical decision making, and prohibits hospital sale-and-lease-back transactions.

Tyler Durden Mon, 09/28/2026 - 17:40

Suspects Accidentally Set Themselves On Fire During Seattle Fuel Theft Attempt

Zero Hedge -

Suspects Accidentally Set Themselves On Fire During Seattle Fuel Theft Attempt

The free market responds to rising gas prices in many ways...

Two suspects in Seattle appear to have discovered one of the more obvious drawbacks of stealing fuel: it is extremely flammable.

Police say the pair accidentally set themselves on fire early Friday while allegedly trying to siphon fuel from box trucks in Seattle’s SODO neighborhood, according to KIRO 7.

Around 1:30 a.m., multiple callers reported several box trucks burning near the 3400 block of 1st Avenue South. Firefighters and Seattle police responded, and officers initially detained a 37-year-old man who was found near the rental truck lot smelling strongly of smoke and carrying a lighter.

A witness identified him as someone seen leaving the area shortly before the fire, and police arrested him on suspicion of felony property damage. Three rental trucks suffered an estimated $150,000 in damage.

But security footage reviewed by Arson and Bomb Squad detectives quickly changed the story.

According to police, video showed a vehicle arriving with two people inside who appeared to begin stealing fuel from the trucks. Somewhere along the way, their criminal master plan encountered the minor complication of combustion.

The report says that the fuel ignited, engulfing both suspects and their vehicle in flames. Despite apparently catching themselves on fire, the pair managed to get back into their vehicle and drive away onto 1st Avenue South.

Police subsequently determined the 37-year-old man they had arrested was not responsible for starting the blaze and released him Friday morning.

Investigators are now searching for the actual suspects, noting that at least one may be walking around with burns, singed hair or missing eyebrows...which, conveniently, may narrow the field.

Tyler Durden Mon, 09/28/2026 - 17:20

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