Individual Economists

10 Monday AM Reads

The Big Picture -

My back-to-work morning train WFH reads:

The Cascade: The war’s secondary effects have crossed a threshold. They are no longer consequences. They are independent crises with their own momentum, and most of them will not stop when the bombing stops. (The Omission) see also Why isn’t the stock market freaking out more over the Iran war? Here’s why: History tells us that geopolitical events like the launch of military actions tend to rattle the securities markets in the short term, investors eventually shift to the long view, assuming that these conflicts will eventually be resolved and the door reopened to bullish sentiment. (Los Angeles Times)

• The State of the (Bonkers) ETF Market: The ETF industry just had its wildest quarter ever—new launches, record flows, and a geopolitical backdrop that scrambled every playbook. Bonkers is the right word. (ETF.com)

• In Batteries We Trust: Krugman argues that oil futures are still too cheap given where energy markets are headed. The battery revolution is real, but the transition is messier than anyone wants to admit. (Paul Krugman)

Microsoft closes worst quarter on Wall Street since 2008 on AI concerns: ‘Redmond is in a pickle’ Concerns about the company include the return on investment for artificial intelligence build-outs and the adoption of Copilot. Microsoft’s earnings multiple hasn’t been this low since the fourth quarter of 2022, when OpenAI introduced ChatGPT. (CNBC)

Dispatch from the permanent underclass, April 3rd, 2029. Jack Raines takes a hard look at the Americans who’ve been left behind by every recovery. The permanent underclass isn’t a bug in the system—it’s a feature. Come with me on a journey… (Young Money)

How the Midwest Became the Place to Move:  Flyover country is becoming move-to country. As the Sun Belt cools off and housing costs surge on the coasts, the Midwest is having its moment. It’s (mostly) about affordability. (The Atlantic) see also Private equity house views 2026. Uncertainty surrounding inflation, economic growth, and interest rates remains high. (Stepstone)

America Now Has an EV Rust Belt. High Gas Prices Won’t Rescue It. GM supplier Magna is stuck with a plant built to churn out parts for battery-powered pickups; the $575 million EV parts factory in Michigan sits mostly empty. The auto industry’s pullback on EV investment has created a new kind of industrial wasteland; ‘the magnitude of uncertainty is unparalleled.’ (Wall Street Journal)

I broke up with my Kindle. My new e-reader treats me better. After Amazon’s Kindle removed my ability to download and back up my own e-books, I went in search of an alternative. (Washington Post free)

How A.I. Helped One Man (and His Brother) Build a $1.8 Billion Company: Who needs more than two employees when artificial intelligence can do so many corporate tasks? It’s super efficient — and a little bit lonely. (New York Times)

• Iran War Showcases Strength of South Korean Defense Sector: Missile interceptors made by the South Korean firm LIG Nex1 are said to be performing well, at a small fraction of the cost of U.S. interceptors. The Iran war is turning Seoul into the world’s defense industry darling. (New York Times)

Be sure to check out our Masters in Business next week with Songyee Yoon, founder and managing partner of Principal Venture Partners, an AI-focused investment firm established in 2024, and since 2025 a member of the board of directors of HP.

 

Energy’s share in consumer spending was just 4% as of Jan 2026

Source: Aditya Bhave, BofA Research

 

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

Lefsetz: Anybody Can Get Publicity

The Big Picture -

 

We are all looking to make it. And we employ signifiers, status markers, to indicate that we’ve crossed the threshold, that we are no longer trapped amongst the great unwashed, that finally we are SOMEBODY!

And one of the main ways you felt settled, that you were not only on your way, but part of the firmament, was seeing your name in the news.

It’s a thrill when it first happens. You mean you want MY opinion, you want to write about ME? But as time goes by, you find out it’s meaningless, because everybody is expressing their opinion or promoting their wares all day long online, and your triumph gets lost in the shuffle.

I’m not saying there’s anything wrong with publicity, and sometimes it even gooses projects and careers, all I am saying is it won’t sustain a career. And longevity is everything today.

Used to be, very few people could make it. Could get a record deal, never mind get on the radio and become a star who can sell tickets. Whatever your innate talent, the work of a whole team enabled you to climb the ladder, which is why you see award winners constantly thanking their handlers.

But awards don’t mean much either. I hope you’re thrilled you won, but in a matter of months, seemingly no one remembers your victory. Furthermore, there are a lot of Grammy winners who make their money elsewhere, not in music, or have given up completely. That’s what an award is worth. So if that’s your goal…

I was reading the “Wall Street Journal” yesterday and saw that a friend was quoted. He’s not a public figure; I don’t think his inclusion resonated with a broad swath of the public. For a second there, I thought how they didn’t call me, but that’s just a step on the ladder, a momentary feel-good experience. Most people, after they’ve had that brush with publicity, feel good for a moment and have seen the return was relatively minimal, go back to doing the work.

And it’s all about the work.

Ah, that’s a cliché. Let me try to restate it in other words.

If you want to last a long time in today’s world, you’ve got to keep on creating, because there’s so much news and so much of it reaches so few people that most have already forgotten about you, if they knew about you in the first place.

There’s nothing wrong with a feature in the “Times” or the “Wall Street Journal”… But be wary, these outlets are never completely positive. That David Geffen documentary? The one on Jimmy Iovine and Dre? They were love letters, because THEY PAID FOR THEM! They know it’s all about control, kudos.

But if you give up control, beware.

However, let’s return to basics. Most people are looking to get noticed. They want to get out of the hole that they’re in. They want to throw the long ball; they want to believe there is some grand poohbah out there who can reach out and anoint them, and their career will be made. Today, this is patently untrue.

Let’s start with the number of news outlets.

I know, I know, I’ve lauded Apple News+, but if you read the general feed, your eyes will glaze over; it’s all clickbait headlines…and when you click through, there’s very little there.

You even get the same thing in Google News!

All these outlets fighting for attention have caused people to look elsewhere for information, first and foremost, their friends and family, real or those they’ve met online. It’s like we’re living in the 1800s, prior to modern communication methods. The mainstream has worn out its welcome, been excoriated by those who don’t agree with it, on both the left and the right, and has never meant less.

But we’re not talking about general news here, we’re talking about you.

You’re looking for a leg up; you’re looking for it to be made easier. IT’S NEVER GOING TO BE MADE EASIER! The major label can’t break you, if it will even sign you. Terrestrial radio can’t break you; it takes its clues from Spotify and other streaming media. And Spotify is a great democracy influenced by word of mouth, both online and offline. Social media can drive a hit more than terrestrial radio. But there’s no direct pipeline, no one you can pay to get millions of views.

So…

Paying for streams, for views on YouTube…unless your plan is to leverage these to make a deal with a larger entity, save your money. Your fans don’t care, and it’s only about your fans.

Now I’m not saying fans are irrelevant; it’s just that now there’s a direct conduit from you to them, and you must feed the beast, constantly. Your only hope of growing is via your fans, and if you’re not top of mind, they’re not going to do the work for you. And some fans spread the word, and some do not, and you don’t know who is who, so you have to keep spraying bullets and…

Sounds hard, doesn’t it?

It’s VERY hard.

Anybody can get noticed for a minute or two. Every week in the “Times” Sunday Style section, they hype a book or previously unknown person, and it’s almost like the kiss of death; they’re never heard from again.

TV entertainment news? If you think active consumers are even watching broadcast/cable TV, you’re dreaming. That’s not the bleeding edge, and those who make a difference, who change the world, are always harvesting information on the fringe.

So, you’ve got to keep on working, or you’re going to be forgotten. Most of the public does not know you’re a one-hit wonder, and there’s a tsunami of product, and you’re not going to get many streams in the future.

Now wait just a minute, you say… I won, I triumphed, I SUCCEEDED!

Maybe by old school metrics.

There’s no overlord with fairy dust spraying it on the lucky few.

No, you’re not only the creator, but you’re also the fairy too.

And be wary of getting away from your mission. That brand extension might be a mistake if it takes your focus from the core work, if it undercuts your credibility.

In other words, unless you’ve got a plan to get in quick and get out nearly as fast, the world has completely changed. It’s not about momentary vertical success; it’s about continuing to be in the landscape. For year after year after year.

If you’re doing this for an annum or two, before you go to graduate school, don’t even bother; go enroll at the academy. Because it takes longer than ever to gain a following, and you never quite know when you’ve made it, if you’ve made it at all.

Read the news. The trades. Look at who is featured, who is promoted, but don’t feel left out. That’s a moment in time. Used to be it was a rarefied world, only a few could get ink, now EVERYBODY can get ink.

That’s true. If you’re old enough, you’ll remember what a thrill it was to be on TV. You told your friends to look for you at the baseball game. Now you don’t even mention it, because it’s no big deal. The barrier to entry is so low that it’s not hard to get on TV, and so many of the people who cross that threshold are nincompoops. Why is it that the “Housewives” are always getting into legal trouble and getting divorced? If they were that rich, this wouldn’t happen. No, they believe if they are on these shows, they are stars, whereas truly they are laughingstocks, fodder for the machine. You know the number one rule of reality television…DON’T BE ON IT!

So it’s just you. In the wilderness. Trying to grow a fan base. Even a hit isn’t going to mean you’ve got a career. No, you must do foundational work, one-on-one. You must nurture your image, not do anything out of character. People need to be able to trust you. And what the press says or doesn’t say about you is essentially irrelevant. Certainly here today and gone tomorrow.

Of course, there are people who make it a full-time job to appear in the press, but that does not mean they’re rich, that they’ve even got a career, or even fans, just that some people see their names on a regular basis.

But so many still want to believe. That if they hire publicity and promotion people, if they get their name out in the news, they will be winning.

Today, winning is something you feel inside. No one else can claim victory for you. No one else can anoint you with pixie dust. There are social media influencers making more money than most of the people in the Spotify Top 50, even though very few know their names. Young people acknowledge this change; old people pooh-pooh it because they don’t like having their cheese moved, they don’t like the evisceration of rules. There must be rules, right?

There are no rules; you make it up as you go. And chances are those jumping the track, doing the out of the ordinary, never mind extraordinary, are going to win.

So if you’re railing against the system…

You’re the system. Only you. It all comes down to you.

Keep producing. Doesn’t matter what the general public thinks, just what your fans do. And if you’re good enough, you’ll grow a fan base and sustain it. But that’s too heavy a lift for newbies; they want someone exterior, in the firmament, to say they’ve made it, that they’re a star.

But that paradigm went out with the internet. And the internet’s been around for thirty years.

So it’s time to acknowledge where we are. A Tower of Babel world where you’re the act, the bus driver, the social media maven…one in which you wear all the hats, and if you want to have a conference, you look in the mirror.

But never forget, people are still looking for great, and there’s very little great out there. So if you are truly great, people will find and promote you…just don’t expect it to happen overnight.

 

~~~

Visit the archive:   http://lefsetz.com/wordpress/

@Lefsetz  http://www.twitter.com/lefsetz

If you would like to subscribe to the LefsetzLetter

~~~

Originally published by Bob Lefsetz at the Leftsetz Letter

The post Lefsetz: Anybody Can Get Publicity appeared first on The Big Picture.

DOE FY27 Budget Requests $45 Billion in Nuclear Funding

Zero Hedge -

DOE FY27 Budget Requests $45 Billion in Nuclear Funding

The White House fiscal year 2027 budget proposal has requested almost $54 billion for the Department of Energy in fiscal year 2027, with almost 80% of that funding going towards nuclear energy and nuclear deterrent programs. The funding request represents a nearly $5 billion increase from 2026 levels.

Outside of the $32.8 billion in funding requested for the National Nuclear Security Administration (NNSA), the Trump admin cites a $2.7 billion reduction in funding requests achieved by “slashing Green New Scam initiatives and rooting out woke diversity, equity, and inclusion (DEI) programs”.

The NNSA receives a $3.6 billion (12%) increase from the prior year. The request supports warhead modernization, infrastructure recapitalization, life-extension programs, next-generation naval reactor technology, and nuclear emergency response teams. 

These defense nuclear activities also advance high-assay low-enriched uranium ((HALEU) production with direct benefits for commercial reactor fuel supply chains.

Environmental Management is funded at $8.2 billion, down $386 million from the enacted level. The program addresses legacy radioactive waste and contamination at former Manhattan Project and Cold War weapons sites. Approximately $3 billion targets the Hanford site in Washington state for continued operation of the Direct Feed Low-Activity Waste Facility and other near-term cleanup milestones. The initiatives reduce long-term federal liability and clear land for potential future nuclear or industrial reuse.

The budget makes a specific call out for an additional $3.5 billion to “rapidly deploy firm baseload power”. No further explanations are given for what exactly is covered under this initiative, but it is assumed to be a combination of nuclear energy and geothermal power-related programs. The DOE and its various offices have issued multiple award programs to kickstart the expansion of two of the current administration's preferred power generation methods. 

The $53.9 billion figure captures the entire department request while nuclear security, cleanup, and energy investments form the dominant share. Civilian nuclear energy programs such as advanced reactor demonstrations and fuel-cycle work appear folded into the non-NNSA portion or supported through targeted baseload funding. 

The proposal continues the pattern of prioritizing nuclear deterrence and legacy stewardship even as other energy accounts face reductions or proposed cancellations.

Tyler Durden Sun, 04/05/2026 - 11:40

Eisen Vs Every 'Trumper': There Is Quite A Battle Shaping-Up...

Zero Hedge -

Eisen Vs Every 'Trumper': There Is Quite A Battle Shaping-Up...

Authored by James Howard Kunstler,

The Red Line

"The ends must justify the means — the only question is what means are necessary."

- Saul Alinsky

Why do the news anchor ladies of CNN, Erin Burnett, Kate Bolduan, always look so depressed on the air? They never smile. Their faces always register something between grave concern and hysteria. Is it the network’s cratered ratings? The pending hostile takeover by Paramount / Skydance (led by conservative David Ellison)? Too much botox, zombifying the small facial muscles? Or is it self-loathing from being compelled to slant everything they report on in the direction of a lie?

There does seem to be some hidden hand in Narrative Central issuing prescribed story-lines to the networks, and that hand seems to be tinged with malice for anything and anyone seeking to rescue our country from chaos, penury, psychosis, and jihad. It looks like the hidden hand wants the country to go down in flames, and will resort to any means necessary to get it done. The template for that is so-called “color revolution,” which is a hyper-accelerated version of “Red Rudi” Dutschke’s “march through the institutions” to “capture the transmitters of culture” so as to produce a communist utopia, as cribbed from the writings of Antonio Gramsci, (1891 – 1937) founder of the Italian communist party.

The fascist Mussolini tossed Gramsci in jail where he scribbled three thousand pages of his Prison Notebooks, in which he laid out his strategy for destroying civil society, later adapted by the Americans Saul Alinsky (1909-1972) in his Rules for Radicals and Gene Sharp (1928-2018), who penned several concise manuals of strategic mechanics for dismantling targeted governments.

These are the mentors of chief Lawfare ninja Norm Eisen, who has made a specialty of marching through the institution of American law in order to advance the agenda of the Democratic Party allied with cohorts of the permanent Washington bureaucracy (or Deep State) to fend off any challenge to the corruption and racketeering embedded in those two symbionts.

The challenge obviously presents in the form of Donald Trump, the once and current president battling an increasingly rabid set of opponents. Norm Eisen has been deeply involved in every attempt to undermine and disable Mr. Trump since 2016. He wrote briefs for the Mueller Special Counsel operation; he acted as prosecutor in Trump’s impeachment # 1 (prompted by CIA agent and so-called “whistleblower” Eric Ciaramella, as facilitated by then Rep. Adam Schiff); he assisted ex parte in the House Jan 6 Committee proceedings; he prepared legal arguments for the Fani Willis prosecution of Mr. Trump and 18 co-defendants; and he helped construct the legal framework for Special Counsel Jack Smith’s cases against Mr. Trump. In short, Norm Eisen spent the past decade laboring to brand Donald Trump as a criminal and shove him out of the political arena. His efforts failed.

Norm Eisen founded or is associated with several swamp NGOs active in Trump-hunting operations, including Citizens for Responsibility and Ethics in Washington (CREW), the States United Democracy Center, the Democracy Defenders Fund, Democracy Defenders Action — all posing as anti-autocracy operations. Eisen and his orgs have filed hundreds of lawsuits against the Trump administration to obstruct any initiative the President advances to stop Democratic Party sanctioned grift, deport illegal aliens ushered in during the “Joe Biden” years, and especially to derail investigations of election fraud. These orgs are well-funded by George Soros’s Open Society NGO and its spinoffs, Arabella Advisors (rebranded as Sunflower Services), the Tides Foundation, that is, the usual suspects.

In the face of all that, plus a dysfunctional Congress and a hostile federal judiciary, the President has struggled to find work-arounds for every piece of the agenda he was elected to carry out. What can be done about it? Even if evidence was produced to show that Norm Eisen acted improperly in the cases brought against the President, it is unlikely that a case brought against Norm Eisen would get any traction in a DC district federal court. He is a longstanding friend of James “Jeb” Boasberg, Chief Judge of the DC District. Norm Eisen was in the same 1991 class at Harvard Law School as Barack Obama, an architect of the Left’s movement to destroy the Republic.

All of this suggests that if Mr. Trump needs to accomplish something critical, such as basic reform of our election procedures, and if any of his executive orders are thwarted by Norm Eisen-backed lawsuits for judicial nullification of executive powers, Mr. Trump will have to declare some kind of extraordinary national emergency. That will be the red-line that Norm Eisen has been seeking for ten years: his chance to brand Mr. Trump as a “tyrant” and commence a new impeachment effort, in theory coinciding with the seating of a Democratic Party majority in both houses of Congress.

This is quite a battle shaping up. Norm Eisen has been adroit to a fault in all his nefarious endeavors.

But then, Mr. Trump has performed as a veritable Scarlet Pimpernel of American politics, ruthless, resourceful, self-consciously comical, and genuinely motivated to save the USA from a cabal of prodigious villains.

He is in it to win it. His crowning achievement might be getting the morose ladies of CNN to finally crack a smile.

Tyler Durden Sun, 04/05/2026 - 11:05

Czech Government Caps Fuel Prices And Cuts Diesel Tax To Combat Surging Costs At The Pump

Zero Hedge -

Czech Government Caps Fuel Prices And Cuts Diesel Tax To Combat Surging Costs At The Pump

By Thomas Brooke of RMX news,

The Czech government has moved to cap fuel prices and slash diesel taxes in an effort to curb rising costs due to the ongoing international energy crisis, announcing a system that will see the state set maximum daily prices for fuel across the country.

Prime Minister Andrej Babiš said the intervention follows concerns that fuel retailers were charging excessive margins, despite earlier pressure from the government to bring prices down voluntarily.

Under the new system, the Ministry of Finance will determine a maximum fuel price each day, applying to all gas stations nationwide. Officials estimated that diesel, if the cap came into force on Thursday, would currently be capped at 46.43 Czech crowns per liter, or around €1.89.

“We monitored the margins and at the beginning of the conflict they were within the norm, but gradually they became excessive,” Babiš said, adding that negotiations with distributors had only partially reduced prices. “We decided to intervene.”

The government will also introduce a cap on retailer margins, setting the maximum allowable profit at 2.50 crowns (€0.10) per liter for both petrol and diesel.

Alongside the price controls, ministers approved a targeted tax cut on diesel fuel. Excise duty will be reduced by 1.939 crowns per liter, equivalent to 2.35 crowns (€0.10) including VAT, in a move officials say is permitted under EU rules. The Ministry of Finance estimates the measure will cost the state budget around 1 billion crowns (€40.8 million).

Finance Minister Alena Schillerová said the combined approach of price caps and tax cuts was designed to immediately lower costs while preventing excessive pricing behavior in the market.

“It is calculated as the average of wholesale indices from Čepro, Orlen, and MOL, plus a margin of 2.50 crowns and VAT,” she said, outlining how the daily maximum price will be set.

The ministry will publish the price each weekday at 2 p.m. for the following day.

Schillerová added that the margin cap was based on historical data adjusted for inflation, with the aim of eliminating what she described as disproportionately high pricing by retailers.

The measures will formally take effect on April 8.

Tyler Durden Sun, 04/05/2026 - 08:10

Time For Europe To Defend Itself

Zero Hedge -

Time For Europe To Defend Itself

Authored by J.B. Shurk via American Thinker,

Americans shouldn’t fight for a suicidal continent.

Four years ago, the Biden administration was working with the United Kingdom and the European Commission to pay for diminutive comedian Volodymyr Zelenskyy’s war with the Russian Federation over territories where supermajorities of the population identify as Russian.  We were told that the Russian-speaking people of Ukraine “belonged” to Ukraine and that the only way to “preserve democracy” was to deny those people a democratic vote to join the Russian Federation.

“Democracy” also apparently requires the installation of a Ukrainian dictator, a complete crackdown on an independent press, widespread censorship of public debate on social media, the denial of religious freedom, and a brutal campaign of press-ganging men into military service to die as cannon fodder for a corrupt Ukrainian regime that launders money from U.S. and European taxpayers into the bank accounts of the West’s political and financial elites.

Just as globalists in the United States, Canada, Australia, the United Kingdom, and across Old (and increasingly Islamic) Europe turned the “Reign of COVID Terror” into an opportunity to bilk taxpayers, enrich elites, and grow the totalitarian national security State, the same globalist scum quickly turned the Ukraine conflict into another “emergency” requiring more taxes, censorship, and public sacrifice.  All of a sudden, anything criticizing the official public policies of Western governments was labeled “Russian disinformation.”  If you disagreed with whatever the West’s vaunted “experts” said, you were dismissed as “Putin’s puppet.”  Pro tip for information warfare enthusiasts: When government authorities identify dissent as “propaganda,” that’s propaganda!

The COVID propaganda project gave us a chorus of World Economic Forum buffoons posing as national leaders all singing, “We must ‘Build Back Better.’”  When that schtick got old — or, rather, when ordinary citizens across the West started to show signs of resistance against their imperial rulers — the West’s globalists turned Ukraine’s Chief Munchkin into a “freedom fighter” battling the pernicious authoritarianism of Russia’s Vladimir Putin.  The same yahoos — Biden, Trudeau, Macron, Queen Ursula, and the rest of the WEF’s rump-kissing claque — who screeched like wounded cockatoos, “Build Back Better,” now all huffed in unison, “Ukraine!  Ukraine!  Ukraine!”  It never ceases to amaze me that the day after Canada’s “Freedom Convoy” protests against COVID “vaccine” mandates came to an end, the official launch of the new hit television drama, “WAR: Ukraine,” began.  It’s almost as if Western globalists yank us commoners along by the leash from one spectacular production of nonsense to the next (just to see how much money they can steal from our pockets when their hands aren’t busy groping small children).

Some people in the U.S. and Europe were made to really care about a country that has long been considered so incorrigibly corrupt that other corrupt countries can’t help but blush.  Lemmings who had been walking around with multiple paper masks over their faces to magically protect themselves from viruses that don’t fear masks all of a sudden waved Ukrainian flags with gusto as if they could identify Dwarf-King Zelenskyy’s money-pit-proto-nation on a map!  Nobody wanted to admit that the same übermenschen from sub rosa groups such as Bilderberg and the Trilateral Commission — who have made a financial killing from “green energy” and mRNA “vaccines” over the years — had simply returned to their favorite investment of all: actual killing.  War brings new taxes, new regulations, new forms of censorship, new military investment, and new ways to exploit asymmetric information for financial gains.  In short, wars bring profits!  And what better place for corrupt globalists to make tons of money than to take advantage of the corrupt swindlers putatively governing the traveling circus known as Ukraine!

The United Kingdom (still smarting from its misadventures in the Crimean War one hundred and seventy years ago) demanded that Russia hand back Crimea to its MI6-managed Ukrainian friends.  Queen Ursula of the pan-European (and increasingly Islamic) empire demanded that Russia respect the right of Europeans to overthrow any Ukrainian governments that Brussels doesn’t like (see the U.S.-E.C.-organized 2014 coup d’état in Ukraine, or what Western propagandists still shamelessly call the “Revolution of Dignity”).  BlackRock and other multinational investment firms selflessly volunteered to help finance the war, purchase Ukraine’s assets on the cheap, and invest heavily in the subsequent reconstruction projects of a destroyed nation.  Google and Facebook promised to censor all public debate averse to globalists’ interests as “Russian propaganda.”

Oh my, what a magnificent war!  It has had everything globalists adore!  It managed to turn a mad midget who plays piano with his penis into Winston Churchill!  It justified blowing up the Nord Stream pipelines and forcing Europe’s peasants into using much more expensive “green energy”!  It excused more government money-printing and spending that conveniently inflated the value of assets owned by the 1% of the 1%!  It allowed the titular leaders of European nations to strut about on the world stage as if they were courageous military generals rallying troops on the front lines — while really doing nothing but callously dropping vulnerable Ukrainian lads into a meat grinder that has made the rich wealthier and the poor fertilizer.  European elites have demonstrated their virtue and bravery one dead Ukrainian at a time.  The whole bloody affair has had all the pomp and circumstance of old, flatulent monarchs dining on beans, broccoli, cabbage, and cheese.

European gentry never wanted a real war — one in which they might risk life and limb.  They simply wanted a war that would cause their investment portfolios to fatten up while they prattled on about bravery and sacrifice.  How do we know?  Because the moment that President Trump began incinerating the mad mullahs of Iran, Europe’s globalists tucked tail and ran…or at least hightailed it to the closest water closet for fresh underpants.

After cutting off oil production in the North Sea in the name of “climate change” and banning Russian energy supplies in the name of “democracy,” Europe depends quite a bit on Middle Eastern oil to stave off economic death.  However, Europe is also right now transitioning from a Western to an Islamic civilization.  Europe’s political elites are so afraid of Islamic immigrants that they would rather permit them to rape their youngest daughters than cause a scene.  They certainly can’t be seen going to war against an Islamic country!  Wealthy Europeans don’t mind sacrificing the continent’s peasants to mass slaughter, but they have no interest in seeing a scimitar up close themselves.  Yes, yes, best to wear the white feather of cowardice as if it were a symbol of European principle.  America’s courageous cowboys will surely save Old Europe from itself!

Except…maybe not this time.  President Trump is not happy that our so-called NATO “allies” have refused to support America’s mission in Iran.  U.K. Prime Minister Keir Starmer says, “This is not our war.  We will not be drawn into the conflict.”  Starmer wants to decouple from the U.S. and rejoin the E.U.  France, Spain, Italy, and the U.K. have now denied the U.S. military permission to use European bases or airspace.  Europe’s NATO members collectively insist that Iran is not NATO’s concern.

To which President Trump has appropriately pointed out that Ukraine is not a NATO member and therefore not America’s concern.  Both the president and Secretary of State Rubio believe that if European members of NATO cannot be persuaded to protect their own economic interests in the Strait of Hormuz, then it is time for the U.S. to reconsider its NATO commitments to European security.  “Allies” in name only aren’t really allies at all.  For those of us tired of Europe’s crusty aristocracy leeching off of American military muscle while habitually grousing, the possibility of cutting off the Old World’s freeloaders is pleasant news.  Americans shouldn’t fight for a continent that has no interest in defending itself.

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

Tyler Durden Sun, 04/05/2026 - 07:00

10 Sunday Reads

The Big Picture -

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

• How Artist Imposters and Fake Songs Sneak Onto Streaming Services: Fake artists and counterfeit songs are flooding Spotify and Apple Music, siphoning real royalties. The streaming platforms either can’t or won’t stop it. When songs leak on Spotify and Apple Music, illegal uploads can generate substantial royalty payments—but for whom? (Pitchfork)

Who Needs Las Vegas When You Have a Casino in Your Pocket? Mobile gambling is eating Las Vegas’s lunch, and the city is pivoting to tech and logistics to survive. The house always wins—unless the house is on your phone. Las Vegas is hoping that rapid growth in high-tech businesses and logistics will offset its stagnant gaming industry. (Barron’s) see also Prediction markets: the hunt for the new ‘dumb money’ As new bettors flock to platforms such as Kalshi and Polymarket, some make easy prey for trading firms and professional gamblers. The FT follows retail bettors migrating from Kalshi to Polymarket, chasing the same dopamine hit. Prediction markets are supposed to aggregate wisdom—instead they’re attracting gamblers. (Financial Times)

• America’s booming annoyance economy: Companies have figured out that bad customer service is more profitable than good customer service. The annoyance economy is booming—and you’re paying for it. (Business Insider)

AI has the worst sales pitch I’ve ever seen: AI has the worst sales pitch I’ve ever seen “Our product will make you economically useless, and possibly kill you” is not a value proposition. Noah Smith argues that AI’s pitch is the worst marketing in tech history. He’s not wrong about the messaging problem. (Noahpinion)

‘This feels fragile’: how a satellite-smashing chain reaction could spiral out of control: Today, the space around Earth can no longer be considered empty. More than 30,000 objects are in orbit, and that figure is rising exponentially. The Kessler syndrome isn’t science fiction anymore. One bad collision could trigger a chain reaction that makes space unusable for generations. (The Guardian)

A Detailed Timeline of Jeffrey Epstein’s Death: One of Epstein’s prison guards has been called to speak before the House Oversight Committee this week. Ahead of her expected testimony, here’s a detailed look at what we know about the convicted sex offender’s conspiracy-theory-shrouded death. (Vanity Fair)

Pam Bondi’s Legacy of Flattery and Destruction: No Attorney General has done more damage to the Justice Department. Ruth Marcus argues that no Attorney General has done more damage to the Justice Department than Bondi—and her successor could be even worse. (The New Yorker)

The great care home cash grab: how private equity turned vulnerable elderly people into human ATMs: When did care homes come to be seen as recession-proof investments? And who pays the price? (The Guardian) see also An Insurer Canceled a Woman’s Coverage Over a Nickel: A teacher’s aide lost her health insurance because of a five-cent billing discrepancy. The American healthcare system’s cruelty is matched only by its absurdity. (Washington Post)

The Beginning of The End of Donald Trump’s Presidency? Jay Powell was always the one man in the world who could stand up to Donald Trump, and Trump knew it, which is why, despite his false bravado, he feared the Reserve Board Chairman. Trump forced the latest confrontation with Jay Powell in one last desperate attempt to force Powell from office so that he could finally seize control over the independent Federal Reserve Bank in the eleventh hour and manipulate the interest rates to disguise the crippling economic impact of his sweeping, unconstitutional global tariffs and his unconstitutional war in Iran. It turned out to be the worst miscalculation of his life. (Judge J. Michael Luttig)

Hegseth’s War on America’s Military: Tom Nichols on how Pete Hegseth is firing top generals mid-war. Dismissing your best military leadership during an active conflict isn’t bold—it’s reckless. Someone needs to explain the Pentagon purges to the American people. (The Atlanticsee also First Draft: The Thug of War. Pete Hegseth’s colleagues at the Pentagon are calling him ‘Dumb McNamara,’ and Biden’s secretary of state almost, sort of feels bad about enabling a genocide. (Zeteo)

Be sure to check out our Masters in Business next week with Songyee Yoon, founder and managing partner of Principal Venture Partners, an AI-focused investment firm established in 2024, and since 2025 a member of the board of directors of HP.

 

US Housing Outlook: Higher Mortgage Rates Not Helpful

Source: Apollo

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Ex-CIA Analyst: Trump's Claim About Obliterated Iranian Air Defenses Was Premature

Zero Hedge -

Ex-CIA Analyst: Trump's Claim About Obliterated Iranian Air Defenses Was Premature

Authored by former CIA officer Larry Johnson

During his Wednesday night speech, Donald Trump made the following claim about Iran’s air defenses: "They have no anti-aircraft equipment, their radar’s 100% annihilated, we are unstoppable as a military force."

The White House followed this Friday, with a statement from a spokesperson, Anna Kelley, who further emphasized, "Here are the facts: Iranian ballistic missile and drone attacks are down 90 percent, their navy is wiped out, two-thirds of their production facilities are damaged or destroyed, and the United States and Israel have overwhelming air dominance over Iran," she said.

Photos widely circulating show destroyed US Boeing CH-47 Chinook helicopter at a base in Kuwait, which apparently took a direct hit Friday.

It appears that President Trump was a bit premature. The US Air Force had a difficult day on Friday:

F-15E (48th Fighter Wing) — Shot down in southwestern Iran. Pilot rescued; WSO still missing.

A-10C Thunderbolt II — Shot down and crashed into the Persian Gulf. Pilot reportedly recovered.

2X HH-60G Pave Hawk — Hit during CSAR mission, one crash-landed across the border in Iraq. All crew reportedly rescued.

KC-135R Stratotanker — Emergency squawk 7700 around 10:00 UTC near Tel Aviv.

F-16CJ “Wild Weasel” (F-16C Block 50/52, SEAD configuration) — Emergency squawk 7700 over Saudi Arabia near the Iraqi border around 15:00 UTC; later disappeared from FlightRadar.

KC-135R Stratotanker — Emergency squawk 7700 around 19:00 UTC near Tel Aviv.

It appears that Iran has no centralized air defense C2 or any kind of joint engagement zone (JEZ) anymore.

However, as evidenced by the incidents above, Iran appears to be relying on Vietnam-style guerrilla tactics of shoot-and-scoot air defense with their passive and highly tactical indigenous system… The IR-SA-7’s (pronounced “Ur-sah-seven”).

SA-7, Illustrative via Falcon Lounge

These Some are specially developed missiles that can loiter at altitude, almost like a glider, completely passive, that lie in wait for one of the US older generation fighters, tankers or other support aircraft to wander too close and then hone-in. While the US can claim “air supremacy” this does not mean that US aircraft can fly over Iran without incurring the risk of being shot down.

I wonder if the Russians are paying attention to Iran’s information operations? Iran is proving to be quite clever and creative in producing videos that take trolling to new heights.

Tyler Durden Sat, 04/04/2026 - 23:55

Forget Temu's "Bugatti" Knockoff. Texas Man 3D-Printed A Lamborghini Aventador Body

Zero Hedge -

Forget Temu's "Bugatti" Knockoff. Texas Man 3D-Printed A Lamborghini Aventador Body

Forget ordering a $30,000 "Bugatti" knockoff from Chinese e-commerce websites like Temu.

A private seller in Texas is now offering what appears to be a fully 3D-printed Lamborghini Aventador body on Facebook Marketplace, highlighting how 3D printing is revolutionizing custom vehicle manufacturing.

"This is a fully 3D-printed Lamborghini Aventador project that gives you a huge head start. It includes the complete body, front frame, rear frame, and monocoque already printed and sized to Aventador dimensions," the listing stated.

The 3D-printed Aventador body is listed for $5,000. But the price jumps to $7,500 if buyers want the exterior and interior all glued together, or $8,500 if they want the frame pieces included in the gluing.

To complete the build, the seller says the body will still need to be reinforced with fiberglass, mounted to a steel frame, and fitted with a drivetrain, suspension, and interior (view listing here). 

Automotive website Jalopnik was the first to report the listing, offering its take:

I may have some ideas about 3D print strength that friends of mine call "overly conservative" or "downright anxious," but I still don't think I'd trust a car with a tub that's been glued together out of various 3D prints. The seller doesn't even specify what kind of plastic they're using. ABS is an option, but ever-popular PLA filament will degrade under the kind of constant UV exposure that a car sees.

Well, this certainly beats the "Bugatti" knockoff from Temu.

*  *  * Order by midnight! Now with cheaper shipping

Tyler Durden Sat, 04/04/2026 - 23:20

The Tyranny Of Compelled Speech

Zero Hedge -

The Tyranny Of Compelled Speech

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

While censorship is often the main focus of discussions about free speech, there’s a related phenomenon that can do just as much damage to a free society. Not by preventing people from saying things they believe in, but by forcing them to say things they do not.

A scoreboard shows a message declaring an indigenous land acknowledgement before an NHL hockey game between the Montreal Canadiens and the San Jose Sharks in Montreal on Oct. 19, 2021. The Canadian Press/Ryan Remior

Compelled speech requires people to use certain words or phrases, or to partake in upholding certain ideological beliefs. It is just as dangerous to free expression as overt censorship.

The constant recitation of indigenous “land acknowledgements” illustrates Canada’s shift towards enforced mass-compliance on complicated social issues. These statements have become ubiquitous in Canadian public life: at schools, workplaces, government functions, ceremonies, and sporting events. Institutions display them on websites, documents, email signatures, and social media. A busy person in Canada may come across dozens of land acknowledgements per day in various contexts.

Although framed as optional gestures of respect, many organizations now have policies mandating land acknowledgements; in other circumstances, social pressure can make them seem obligatory even if they’re not.

Land acknowledgements have morphed well beyond a simple sharing of history into something much more problematic: they have become a sort of sacred ritual with near-spiritual implications, tying certain ethnic groups to ownership over nature itself. When unpacked, there is a lot being said between the lines.

Stepping out of line on land acknowledgements can set off a variety of hostile reactions, ranging from social condemnation to significant legal consequences. Geoffrey Horsman is a biochemistry professor at Wilfrid Laurier University in Waterloo, Ont. As a parent of three children in the local school system and a member of his local school’s parent council, he noted the growing politicization of the regional school system. Of particular concern was the practice of opening every meeting with a land acknowledgement, which took up valuable time and reinforced what he considers a divisive premise.

I don’t think there is anything good that can come out of the idea that a certain ethnic group are the true inheritors of this land,” Horsman said in an interview. But when he raised his objections about the practice, he encountered immediate resistance. In a series of meetings with Waterloo Region District School Board staff, he was told that even discussing the issue was off the table. He has since brought a legal case against the board.

Catherine Kronas, the mother of a student attending Ancaster High Secondary School in Hamilton, Ont., actually lost her position as an elected member of her school council last year after she politely disagreed with land statements being read out loud before meetings. “School councils should decide what gets said in their meetings, and we shouldn’t have to recite something mandated by the government,” she told me. Kronas was reinstated only after threatening legal action.

Horsman’s and Kronas’s cases are both about indigenous land acknowledgements, but the issues they raise run deeper. They could have been challenging any form of imposed ideological speech. In fact, many Canadian governments and institutions are developing a worrying track record of legally enforcing ideological language on a number of topics.

The B.C. Human Rights Tribunal, for example, recently levied an astonishing $750,000 fine against Barry Neufeld, a former school board trustee, after he was critical of the integration and facilitation of transgenderism within public education. Neufeld says he will appeal the fine, which clearly aims to punish him financially for expressing his lack of belief in what the tribunal seems to think is an unquestionable truth.

Compelled speech, or compelled support for any position, quells discourse and creates a type of moral injury. Whether you support the notion of land acknowledgements or not, there is a contradiction at the core of the concept: how can words be respectful if they are coerced?

Most Canadians consider themselves polite, kind, and caring, a usually laudable set of characteristics that has lately been weaponized. How might we begin to move on from the current cultural climate of tension and towards a freer and more relaxed Canada?

Retired Manitoba judge Brian Giesbrecht has some suggestions. In an interview, Giesbrecht agrees that today’s land acknowledgements “create a divisive form of belief in which some people only have rights as ‘settlers.’” To shift this situation, he offers a list of possible ways Canadians can object to compelled speech. His list includes making a written complaint, standing up and objecting in public, walking out of a meeting, and using legal channels to challenge attempted ideological coercion.

The future of a prosperous, functional, united Canada depends on being able to say what you believe and having the freedom to remain silent when you do not. This Canada can and must be restored. Next time you encounter a belief you do not feel eager to participate in, consider abstaining or politely pushing back. If we all resist these pressures, it will no longer be an act of bravery to conduct oneself genuinely and truthfully.

George Ramsay is a recent kinesiology graduate from Victoria, British Columbia. This is an edited version of his grand-prize-winning entry in the 3rd Annual Patricia Trottier and Gwyn Morgan Student Essay Contest first published by C2C Journal.

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

Tyler Durden Sat, 04/04/2026 - 22:45

GOP Senator Opposes More Than 60 Days Of War On Iran Without War Declaration

Zero Hedge -

GOP Senator Opposes More Than 60 Days Of War On Iran Without War Declaration

In what could become a key milestone in an unpopular US-Israeli war on Iran that has the world on the edge of economic catastrophe, a Republican senator from one America's reddest states has announced his opposition to continued action against Iran beyond 60 days from the Feb 28 commencement of hostilities -- unless Congress approves it. 

"I support the president’s actions taken in defense of American lives and interests," wrote first-term Sen. John Curtis in an opinion piece published by the Desert News. "However, I will not support ongoing military action beyond a 60-day window without congressional approval." 

Walking a careful and arguably untenable line as he represents a reliably red state that Trump won by 22 points in 2024, Curtis gave full backing to Trump's unilateral commitment of US forces to war in concert with the State of Israel. Curtis goes so far as to declare that "Iran’s consistent and increasingly disruptive behavior presents exactly the kind of threat the War Powers Resolution envisions." 

Note, he didn't refer -- as some others have -- to an impending retaliation against US forces in the region if Israel had acted alone (an argument that itself ignores America's theoretical power to order Israel to stand down). Instead, Curtis argued that Iran's decades of actions in the region somehow cleared the War Powers Resolution's hurdle of "a national emergency created by attack upon the United States, its territories or possessions, or its armed forces." 

Curtis argues, however, that the Constitution clearly assigns responsibility for authorizing sustained war to the Congress:

"The Constitution assigns Congress the responsibility to “provide for the common defense,” and in that context, it gives Congress the corresponding power to declare war. It would be an act of disrespect to our Constitution if we were to accord the president the right to make war without any declaration of war; the Framers deliberately described a substantive power to declare war and assigned that power to Congress."  

In addition to justifying his position the need for post-60-days congressional approval on constitutional grounds, Curtis also pointed to the grim history of the US war in Vietnam, emphasizing that what began in 1950 with the dispatching of just "thirty-five men" to assist the French in training Vietnamese troops would evolve into a peak of more than a half-million American soldiers in the country, with nearly 60,000 dying in an undeclared war. 

Curtis didn't say whether he would vote to declare war on Iran, focusing instead on his opposition to "funding for continued military operations without Congress having the opportunity to weigh in." There have already been several attempts to block further military action without congressional approval -- all of them have been thwarted. To this point, only a few Republicans have backed these war-power resolutions: Kentucky Sen. Rand Paul joined Democrats in supporting a Senate measure, while Kentucky Rep Thomas Massie introduced one in the House, and was joined by Ohio Rep. Warren Davidson, who is a former Army Ranger.  

Way back on March 5, House Speaker Mike Johnson said such resolutions "play right into the hands of the enemy." He also claimed "we are not at war. We have no intention of being at war. This is a limited operation." That "not a war" argument is belied not only by a common-sense assessment of whether a massive bombing campaign on a foreign state constitutes "war," but also by repeated characterizations of the United States being in a state of war by President Trump, Defense Secretary Pete Hegseth and others in the administration. 

There are other cracks in the GOP's support for the war. On March 19, Colorado Rep. Lauren Boebert recoiled at the Pentagon's wish for a $200 billion supplemental funding to pay for the war on Iran. 

“I’ve already told leadership, ‘I am a no on any war supplementals. I am so tired of spending money elsewhere. I am tired of the industrial war complex getting all of our hard-earned tax dollars. I have folks in Colorado who can’t afford to live...We need America First policies now, and that –– I’m not doing that." 

At the time, Boebert said it was "up to the president" whether the war with Iran should stop. Increasingly, it looks like it's up to Ayatollah Khamenei. 

Tyler Durden Sat, 04/04/2026 - 22:10

Iran Allows Iraqi Ships To Use Strait Of Hormuz As Total Weekly Transits Reach Highest Since War Began

Zero Hedge -

Iran Allows Iraqi Ships To Use Strait Of Hormuz As Total Weekly Transits Reach Highest Since War Began

Over the past two weeks we have been chronicling the increased rate of crossing across the "blockaded" strait of Hormuz as a growing number of ships from friendly nations - whether untolled Chinese tankers or toll-paying Indian, Japanese and Korean vessels - have been making the passage. And as traffic through the Hormuz strait has been picking up in the past week, the seven-day rolling average for transits on Friday reached the highest since the war started, according to Bloomberg.

More vessels are crossing, including those with no clear links to Iran or China, as nations negotiate with Tehran to get their ships through. Transits over the past day were led by liquefied petroleum gas carriers, including one headed to India and others with Iranian affiliations.

Per Bloomberg calculations, a total of 13 ships have crossed since Friday morning, with 10 exiting the Persian Gulf and three entering from the open seas, according to vessel-tracking data compiled by Bloomberg. To be sure, that’s still a trickle compared with the numbers before the war began on Feb. 28: in normal times, about a fifth of the world’s oil and liquefied natural gas passes through the strait every day.

Recent crossings included a French container ship and a Japanese-owned LNG tanker, seemingly the first such transits since the war began. It’s not clear whether those journeys were a result of diplomatic outreach or negotiations by shipping companies and their intermediaries.

Outbound traffic included five bulk carriers and one oil-product tanker joined the four LPG tankers in exiting the Persian Gulf since Friday morning. Three of the bulkers and the fuel tanker sailed on Saturday morning. Apart from the Indian LPG vessel, the others are linked to Chinese or Iranian interests.

On the inbound side, two LPG carriers and one fuel tanker with Iranian affiliations were among the inbound transits recorded since Friday morning.

But while traffic is slowly but surely rising, a potential gamechanger for energy flows and oli supplies through Hormuz was unveiled today when the Iranian military said major oil producer Iraq is exempt from shipping restrictions in the Strait of Hormuz.

“Brotherly Iraq is exempt from any restrictions we have imposed on the Strait of Hormuz,” Iran’s military spokesman said in an Arabic-language video statement published by state-run Islamic Republic News Agency.

The restrictions are imposed only on “enemy countries,” said Ebrahim Zolfaghari, a spokesman for Iran’s Khatam al-Anbiya Central Headquarters. Iran’s control of the strait has become its biggest leverage in the conflict.

The declaration has the potential to unleash as much as 3 million barrels a day of Iraqi oil cargoes. An Iraqi official, however, cautioned that the usefulness of the exemption will depend on whether shipping companies are willing to risk entering the strait to collect cargoes.

Source: Commodity Context

It’s not immediately clear if the exemption will apply to all Iraqi oil or just the nation’s tankers, or indeed how it will be enforced.

Separately, officials in Iran’s Khuzestan province said the Shalamcheh international border crossing with Iraq has reopened after a brief closure. Lofteh Derokvandi, deputy governor of Khuzestan and special governor of Khorramshahr, told Iran’s state news agency IRNA that crossings had resumed for pilgrims and traders, with commercial activity continuing without disruption.

Tyler Durden Sat, 04/04/2026 - 21:57

In Charts: US Does Not Rely On Strait Of Hormuz Oil While Asia Stands To Lose

Zero Hedge -

In Charts: US Does Not Rely On Strait Of Hormuz Oil While Asia Stands To Lose

Authored by Sylvia Xu via The Epoch Times (emphasis ours),

The Strait of Hormuz has been called the jugular vein of the world’s oil supply, and as Operation Epic Fury continues, Iran continues to have a chokehold on the critical supply route.

About one-fifth of the world’s oil and gas is typically shipped through the narrow waterway connecting the Persian Gulf to the Arabian Sea.

But Iran’s attacks on commercial vessels have brought traffic through the strait to a virtual standstill since the start of the conflict on Feb. 28.

In March, just 220 vessels transited the strait, according to data from maritime analytics platform Marine Traffic. Prior to the war, thousands of ships traversed the waterway each month.

These actions have caused oil and gas prices to surge. Brent, a global benchmark for oil prices, has risen firmly above $100 a barrel overseas. The average gas price in the United States has surged past $4 per gallon.

President Donald Trump has threatened to launch strikes on Iran’s oil wells, power plants, and critical oil infrastructure on Kharg Island unless the strait is reopened. He delayed the strikes on Iranian energy infrastructure until April 6, pending talks with the regime.

Here’s a look at how much oil travels through the Strait of Hormuz and where it goes.

An average of 20 million barrels of oil and refined products flowed through the narrow gateway between the Arabian Peninsula and Iran each day in 2025. That’s roughly 25 percent of the world’s sea-borne oil trade, according to a February analysis from the International Energy Agency.

The strait is only 21 miles wide at its narrowest point, with shipping lanes just two miles wide in each direction.

The vast majority of crude oil and condensate—a natural gas byproduct—went to Asia (91 percent), according to a U.S. Energy Information Administration analysis based on Vortexa tanker-tracking data from the first half of 2025.

Of those Asian nations, China and India absorbed about half of the crude moving through the strait—37 percent and 14 percent, respectively—followed by Japan and South Korea at 12 percent each. Sixteen percent went to other countries in Asia and Oceania.

An Indian-flagged tanker carrying liquefied petroleum gas that transited the Strait of Hormuz amid the Iran war remains docked at an offloading terminal in Mumbai, India, on April 1, 2026. The strait is a key global shipping route through which about one-fifth of the world’s oil and gas passes. Punit Paranjpe/AFP via Getty Images

The United States and Europe remained marginal buyers, receiving just 3 percent and 4 percent, respectively.

Roughly three-quarters of crude oil travel by tanker ship through the strait came from Saudi Arabia (38 percent), Iraq (22 percent), and the United Arab Emirates (14 percent). Iran shipped just 11 percent.

Crude Oil Exports Transiting the Strait of Hormuz, 2025

Additionally, the strait accounts for nearly 20 percent of the global liquefied natural gas trade. Qatar, the world’s largest gas exporter after the United States, represents 93 percent of that volume.

In 2025, Asia received almost 90 percent of the liquefied natural gas flowing through the strait. Europe received just over 10 percent.

Of Asian countries, Bangladesh, India, and Pakistan sourced almost two-thirds of their total liquefied natural gas supplies via the Strait of Hormuz last year.

A police speedboat patrols the port as oil tankers and high-speed craft sit anchored near the Strait of Hormuz in Muscat, Oman, on March 30, 2026. Iran’s attacks on commercial vessels have disrupted traffic along the vital waterway, which previously carried about 25 percent of the world’s seaborne oil trade, according to the International Energy Agency. Elke Scholiers/Getty Images

Dependency on Gulf Nations

Japan (57 percent), South Korea (55 percent), and India (50 percent) relied on the Gulf nations for at least half of their oil and gas imports in 2024. China sourced roughly 35 percent of its supplies from the region.

Additionally, Taiwan imported 40 percent of its oil and gas from the region in 2024, while Pakistan sourced more than 81 percent of its oil and gas imports from the Gulf area.

Some African countries, such as Mauritania (76 percent), Uganda (61 percent), and Kenya (55 percent), relied on the Gulf for more than half of their fuel.

Meanwhile, nearly 96 percent of Iranian oil and gas exports through the route in 2024 were designated for one destination: Pakistan.

In Europe, roughly one-third of the energy imports for Greece (35 percent), Lithuania (32 percent), and Poland (30 percent) originated from Gulf countries.

North American reliance on Gulf energy remains minimal, however. The United States received 10 percent of its imports from Gulf nations, and Canada received 5 percent.

Commuters ride past an oil tanker along a street in Islamabad on March 28, 2026. Brent crude, the global oil benchmark, has risen above $100 per barrel, while gasoline prices have climbed above $4 per gallon. Farooq Naeem/AFP via Getty Images

While regional producers have sought alternatives to the Strait of Hormuz, these options have struggled to serve as adequate replacements.

Saudi Arabia, for example, maintains an east-west pipeline that can move approximately 5 million barrels of oil a day to the Red Sea. However, the Abqaiq–Yanbu pipeline system has a maximum capacity of 7 million barrels. This terminal is already heavily used and cannot replace the strait.

The United Arab Emirates has an oil pipeline that bypasses the strait—the Abu Dhabi Crude Oil Pipeline—but it has a capacity of only 1.5 million barrels per day.

As for Qatar’s liquefied natural gas, there is no alternative route.

The strait is effectively a single point of failure for Gulf exporters, as no alternative pipeline routes can replace the volumes that move by sea.

Tyler Durden Sat, 04/04/2026 - 21:35

Library Director Fired After Refusing To Remove Hundreds Of LGBT Books From Kids' Section

Zero Hedge -

Library Director Fired After Refusing To Remove Hundreds Of LGBT Books From Kids' Section

When are these people going to learn to just leave the kids alone?

A Tennessee library board has voted 8-3 to remove its top librarian, Luanne James, after she refused to carry out an order to relocate hundreds of LGBT-themed books, Critical Race Theory (CRT) and feminist propaganda books from the children's section of six Rutherford County branch libraries.

James was initially ordered to relocate books containing far-left ideology from the juvenile/children's sections to the adult sections of libraries.  The board cited concerns that the books promoted "gender confusion," contained LGBT themes/characters, sexual themes, feminist topics, DEI, social justice and related content.

The decision stemmed from a broader state review of thousands of materials prompted by a Tennessee Secretary of State letter and federal guidance on gender-related content. 

Actions within red states to transfer woke propaganda out of children's spaces in school libraries and public libraries accelerated after viral complaints by parents who have read some of the horrific selections out loud at board meetings across the country.  Activist librarians have become a plague, disregarding the age and innocence of the children involved for the sake of a cult-like political ideology. 

Beyond the overtly sexualized selections being planted in kids libraries across the US, there are numerous books teaching gender fluid theories with no foundation in scientific evidence, as well as books promoting critical race theory which twists history to fit the far-left narrative of "systemic racism". 

Luanne James had argued during the Rutherford Board hearing that moving the books to adult sections would violate First Amendment protections and go against her professional responsibility.  Keep in mind, these books were not censored or thrown out by the Rutherford Board; children are simply required to ask their parents for permission to borrow them from the adult section of the library.  This is not a violation of the First Amendment.

Parental rights supersede children's access to content.  Legally and morally, James and library directors like her are simply in the wrong, but they know this. 

“I stand by my decision and I will not change my mind,” James said during the meeting.  After the vote, her attorney read a statement on her behalf calling the firing unlawful.  “Librarians should not be used as a filter for political agendas,” the statement said. “I stood up for the right to read, standing for the citizens of Rutherford County.”   

Ironically, leftists tend to wrap themselves in the constitution when they are challenged on giving children politically charged propaganda to read.  But when parents read these materials out loud in board meetings, those same leftists have them silenced and removed from the proceedings. 

The woke left survives by hiding within legal loopholes, double standards and blatant hypocrisy.  They thrive by targeting the easily manipulated minds of children and teens for early indoctrination.  It is becoming clear that many people working within the public education system are only there to carry out this agenda.  Their priority is not the children, their priority is the proliferation of "the message".     

Tyler Durden Sat, 04/04/2026 - 21:00

The Real Threat From The Iran War Hits Farmers, Not Fuel Pumps

Zero Hedge -

The Real Threat From The Iran War Hits Farmers, Not Fuel Pumps

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

Prices for retail diesel and gas have each risen by over a third ($1.30+ and $1.00 per gallon, respectively) since the launch of Epic Fury. Americans learned in the 1970s that Middle East conflict means energy pain, and that lesson has been reinforced through every subsequent Gulf crisis. This time, however, the more consequential threat to American household budgets is not the fuel pump. It is quietly moving through the global fertilizer supply chain, and it will impact hundreds of millions of Americans who depend on the food that comes out of the ground each fall.

Oil tankers and high speed crafts sit anchored at Muscat Anchorage near the Strait of Hormuz, in Muscat, Oman, on March 30, 2026. Elke Scholiers/Getty Images

The distinction between fuel and food inflation matters. America’s position in the natural gas market—specifically liquefied natural gas (LNG), the fuel at the center of this conflict—is stronger than it was even a few years ago. The United States is now the world’s largest LNG exporter. Our domestic production runs at over 109 billion cubic feet per day. Our export terminals are running near full capacity. As substantial portions of Qatar’s Ras Laffan complex have been taken offline and the Strait of Hormuz has been effectively closed to tanker traffic, European gas benchmarks have surged more than 60 percent and Asian spot prices have nearly doubled. The American benchmark, Henry Hub, has barely moved. The Energy Information Administration expects it to average around $3.80 per million BTU for 2026—roughly where it was before the war began. The paradox of being the world’s largest LNG producer is that we cannot easily move our gas to the global market when terminals are already at capacity, which means that global gas scarcity does not drain our domestic supply. On natural gas, the moat holds.

The story on fertilizer is different, and it deserves attention.

Fertilizer is the link between energy and food. Natural gas is not just a fuel; it is the primary feedstock for synthetic nitrogen fertilizers through a process developed over a century ago called the Haber–Bosch method. Natural gas goes in, ammonia comes out, ammonia becomes urea, urea gets spread on cornfields in Iowa and wheat fields in Kansas and rice paddies in Asia. About 80 percent of nitrogen fertilizer production costs are attributable to natural gas. When the Strait of Hormuz is practically shuttered, you do not just block oil tankers and LNG carriers. You block the ships carrying urea and ammonia that the world’s farmers were expecting to receive this spring.

The numbers are sobering. The Persian Gulf region accounts for roughly a third of globally traded urea exports and approximately 25 percent of ammonia trade. Qatar’s state fertilizer company—QAFCO, considered the world’s largest urea supplier—shut down its plant when gas was cut. Saudi Arabia and other Gulf producers have seen exports stall. China, the other major global fertilizer exporter, has restricted outbound shipments to protect its domestic supply. These two supply sources together represent a substantial share of the global market, and both are simultaneously constrained.

For American farmers, the timing is the cruelest part. Urea prices at the New Orleans import hub jumped more than 30 percent in the first week of the war, and by late March had risen roughly 77 percent from their December 2025 levels. Spring is the season when the largest volumes of fertilizer move into the country. Agriculture Secretary Brooke Rollins acknowledged that approximately 25 percent of American farmers had not yet purchased fertilizer for the planting season when the Strait closed. Those farmers are now facing input costs that look nothing like what they budgeted. The American Farm Bureau wrote to President Donald Trump calling for relief, and the image painted—a farmer who a few months ago could buy a ton of urea for the equivalent of 75 bushels of corn now needing 126 bushels for the same ton—captures the arithmetic of the squeeze.

That squeeze has limits that should be acknowledged. The majority of American farmers (an estimated 75 percent) did lock in their fertilizer before the outbreak of war. American agriculture is large, diversified, and resilient in ways that smaller or more import-dependent agricultural economies are not. The domestic natural gas that feeds American fertilizer producers is cheap by global standards, and domestic producers have a meaningful cost advantage over Gulf competitors at current prices. Buffer stocks exist. Markets will adjust. Other supplier nations will expand.

For American consumers, the impact will be real but delayed and partial. Commodity markets are already pricing in some reduction in crop yields globally. Global grain and oilseed production that depends on fertilizer applications made this spring will be affected by how long the disruption lasts. The food price consequences of a bad planting season arrive on grocery shelves six to twelve months later, not tomorrow. This is not a moment for panic. It is a moment for attention.

It is also an indictment of a supply chain that was allowed to grow dangerously concentrated in one of the world’s most volatile regions. The same mistake was made in Europe by dependency on Russian pipeline gas, and the European Union spent four years trying to unwind it. The dependence on Gulf fertilizers accumulated quietly over decades, driven by the same logic: the gas was cheap, the production was efficient, the ships kept running. The Strait of Hormuz is the chokepoint.

Food inflation will be visible later this year, although not nearly as severe in the United States as in the rest of the world. There is reason for optimism in the American position. We have the natural gas, the agricultural infrastructure, the fertilizer production capacity, and the market depth to weather this disruption better than almost any nation on earth. The war will end, the Strait will reopen. Crops will be planted. Some of the disruption will prove temporary. What should not be temporary is the lesson about dependence on a single chokepoint for one-third of a food input that has no short-term substitute. The Haber–Bosch process feeds 8 billion people. Allowing the ships that carry it to bottleneck through a strait only around two dozen miles wide in a war zone is a risk that was hiding in plain sight.

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

Tyler Durden Sat, 04/04/2026 - 20:25

Ex-NYC Mayor de Blasio Joins China-Linked Far-Left Group At Anti-U.S. "Emergency Meeting" In Colombia

Zero Hedge -

Ex-NYC Mayor de Blasio Joins China-Linked Far-Left Group At Anti-U.S. "Emergency Meeting" In Colombia

The New York Post reports that former New York City Mayor Bill de Blasio secretly traveled with his girlfriend and a far-left activist group, alleged to have links to the Chinese Communist Party, to attend an "emergency" meeting denouncing the U.S. It's a 180-degree turn for the former Democratic mayor of NYC, long a symbol of American capitalism, even as the image of the metro area deteriorates under Zohran Mamdani's socialist rule.

Source: New York Post 

A source told the NYPost that de Blasio jetted off with members of CodePink, a Marxist propaganda network linked to Chinese billionaire Neville Roy Singham, to attend an "emergency" meeting called Nuestra América to denounce the U.S. and all foreign policy in the West by the Trump administration, including the US capture of Venezuelan dictator Nicolás Maduro in January.

Source: New York Post 

"It's not that Bill de Blasio does not know CodePink is a CCP front group, it's that he is so desperate for relevance and validation that he does not care," a Democratic operative told the outlet, adding, "It's really bottom-barrel stuff that he has to pal around with a bunch of anti-American nuts no one actually takes seriously."

Source: New York Post 

The meeting of socialists was organized by Progressive International, an umbrella group that aspires to "eradicate capitalism everywhere" and includes CodePink among its members.

According to a recent report by The New York Times, Singham resides in China while maintaining a long record of supporting radical-left nonprofits that oppose U.S. interests and align with foreign adversaries.

Singham, who is married to activist Jodie Evans, co-founder of CodePink, has been alleged by House Republicans to be a major financial backer of the Party for Socialism and Liberation, which has organized nationwide protests, including unrest in Los Angeles.

These far-left nonprofits frame U.S. foreign policy as illegitimate while defending authoritarian regimes. The Democratic Socialists of America (DSA) function as the political activation channel, translating activist energy into electoral and legislative influence on behalf of foreign powers.

The Trump administration has identified CodePink and the "Singham network" as vectors of Chinese propaganda in what is viewed as asymmetric warfare.

In fact, we recently penned the note "Is There A "Cuba Connection" Behind The Radicalization Of America's Nonprofit Left"...

Government Accountability Institute President Peter Schweizer told us earlier this year, "Singham's anti-American villainy became clear with his financing of the violent Black Lives Matter uprisings — to Communist China's delight. He is absolutely in bed with the CCP."

If you want to understand why the radical left appears to hate America and seeks to destroy capitalism and the nation from within, it is not difficult to see that these ideas are rarely developed organically. More often, they are shaped and reinforced by outside influences - like meetings and workshops attended by de Blasio.

This chart above helps explain why the radical left has become so radical.

Tyler Durden Sat, 04/04/2026 - 19:50

The Demise Of Trial By Jury

Zero Hedge -

The Demise Of Trial By Jury

Authored by Celina via American Greatness,

Justice isn’t blind anymore: Multiculturalism has made impartial justice impossible

“Law grows with the growth, and strengthens with the strength of the people, and finally dies away as the nation loses its nationality.”
— Friedrich Carl von Savigny

Photo: Wyandanch, N.Y.: As the jury foreperson read the verdict of "not guilty" in the Los Angeles courtroom, women at Straight Path Beauty Supply in Wyandanch, New York react expressively on October 3, 1995. (Photo by Dick Kraus/Newsday RM via Getty Images)

On Tuesday, October 3, 1995, the verdict in the O. J. Simpson criminal trial was broadcast live across the globe, a truly defining moment of the late twentieth century. In the now-iconic split-screen imagery, as the words “not guilty” reverberated through the Los Angeles courtroom, black spectators erupted in celebration and applause, raising their fists in jubilation. Conversely, white spectators sat frozen in stunned, horrified silence, grappling with an incomprehensible subversion of the evidentiary record. The stunning juxtaposition of the visual perfectly captured the fracture of a society devoid of a shared moral consensus.

Students at Augustana College react to the verdict of O. J. Simpson’s murder trial, October 3, 1995. A man got away with a murder that everyone knew he committed, and half the room is happy because of his race.

This was obviously not an exercise in blind justice; it was an exercise in racial grievance. Decades later, juror Carrie Bess admitted with chilling indifference in a 2016 documentary that 90 percent of the predominantly black jury knew Simpson was guilty, but voted to acquit him purely as “payback” for the Rodney King incident. When asked if she believed that decision was right, she merely shrugged.

This historic moment illuminates how, in multiracial societies, jury verdicts can trigger visibly racialized reactions rather than a shared acceptance of blind justice. When the fundamental demographic and cultural realities of a nation shift, the institutions built upon its original foundations buckle. This phenomenon is not isolated to the United States. Pivoting into the British context, the exact same dynamics now threaten the ancient English jury system, eroding the foundational pillars of common law.

This institutional decay must be understood as part of a broader civilizational shift away from participatory, community-rooted institutions toward centralized legal authority. Trial by jury, the sacred “little parliament” that Englishmen fought and died for since Magna Carta, is being dismantled because, in a multiracial society flooded by non-Western demographics, it no longer delivers blind justice. It delivers ethnic loyalty.

Nonwhite jurors display clear ethnocentric bias against white defendants and in favor of their own. The data is undeniable. The elites know it. That is why they are quietly abolishing peremptory challenges, gutting jury trials, and now planning to scrap them for almost everything except murder and rape. Demography is destiny, and if the English, Americans, or Australians become a minority in their own courtrooms, there will be no justice left.

The Jury as an “Ancient Right”

Originating from the legal codifications following Magna Carta in 1215, the English jury evolved from a body of local witnesses into an independent arbiter of fact, serving as the ultimate safeguard against the arbitrary power of the sovereign. By the twentieth century, the jury was entrenched in the Anglo-American legal consciousness as a deeply democratic institution that bound the citizenry to the state. In his seminal 1956 Hamlyn Lectures, Lord Devlin famously described the jury as the “little parliament,” noting that it was the “lamp that shows that freedom lives.”

The jury functioned as a localized check on state power, granting the common citizen the authority to temper the rigid application of the law with communal common sense. The historical power of jury nullification, whereby a jury refuses to convict a defendant despite overwhelming evidence of guilt, was historically celebrated as a triumph against state overreach. Cases such as the 1735 trial of John Peter Zenger, who was acquitted of seditious libel against the Royal Governor of New York, cemented the jury’s role as a bulwark of liberty. The jury possessed the ultimate veto, ensuring that the laws enacted by the sovereign could only be enforced if they aligned with the moral intuitions of the populace.

As detailed in the University College London (UCL) academic paper, “Decline of the ‘Little Parliament’: Juries and Jury Reform in England and Wales” by Sally Lloyd-Bostock and Cheryl Thomas, the jury was vigorously defended as an ancient right and a bastion of liberty, a mechanism whereby the ordinary person’s moral compass could inform legal decisions and contain the powers of government.

Yet the foundational prerequisite for this system, a homogeneous society bound by common ethical standards, trust, and a shared cultural inheritance, has been progressively dissolved. The concept of being tried by a jury of one’s “peers” historically implied a trial by individuals who shared the same linguistic, religious, ethnic, and moral baseline as the accused and the broader society.

When a society is fractured along ethnic and cultural lines, the jury ceases to be a microcosm of a unified nation. Instead, it becomes a contested battleground for competing tribal loyalties. Historical nullification, which used to be a noble tool against state tyranny, has mutated into ethnic nullification, where jurors refuse to convict members of their own in-group regardless of the evidence. This weaponization of an ancient right paralyzes the state’s ability to maintain basic order and shatters the epistemic foundation of the legal system.

The Modern Retreat from Jury Trials

Faced with the undeniable reality that juries in multiracial, fragmented societies cannot be trusted to deliver blind justice, the political and legal elites have chosen to quietly execute the institution rather than address the demographic root cause. This trajectory has culminated in contemporary U.K. reforms that represent a significant shift in the architecture of the legal system.

The latest breaking U.K. government news confirms this terminal retreat. In March 2026, Justice Secretary David Lammy formally announced the most significant contraction of the criminal justice system in 800 years. Under the newly outlined proposals, jury trials are about to be scrapped for almost everything. Only defendants accused of murder, rape, manslaughter, and a handful of select “public interest” cases will retain the right to be judged by their peers. The vast majority of criminal cases, offenses carrying a likely sentence of three years or less, which encompass grievous bodily harm, complex frauds, severe assaults, and robberies, will be diverted to a new tier of “swift courts.” In these newly established tribunals, a lone judge will act as both the arbiter of fact and the dispatcher of sentence, entirely bypassing the citizenry.

Justice Secretary David Lammy

The government’s official justification for this draconian measure relies heavily on managerial rhetoric: reducing the record-breaking backlog of more than 78,000 Crown Court cases, cutting costs, and streamlining complexity. Drawing on the independent review of the criminal courts by Sir Brian Leveson, Lammy warned of a “court’s emergency” and asserted that eliminating the jury saves approximately 20 percent of a trial’s time, thereby ensuring greater efficiency and sparing victims the anguish of delay.

However, these technocratic excuses mask a more significant truth. The backlog is only a convenient pretext for a structural overhaul that the state has been maneuvering toward for decades. The abolition of the jury for the vast majority of crimes is the final admission that the multicultural jury experiment has failed catastrophically. The state can no longer rely on twelve randomly selected residents of modern London, Birmingham, or Manchester to share a common standard of truth, nor can it trust them not to fracture along ethnic lines. Consequently, the state is removing the public from the equation entirely. This represents a deep shift from participatory justice to managerial governance, wherein the state seeks to insulate its legal machinery from the volatile, tribal realities of the very society it has engineered.

The Problem of Impartiality in Mass Democracies

To understand why the state is terrified of its own citizens in the jury box, one must engage analytically with the overwhelming empirical evidence demonstrating the collapse of impartiality in diverse democracies. The tension between group identity and individual objectivity is mapped, quantified, and undeniable.

The baseline for this tribalism is clearly illustrated in the “How racial groups rate each other” chart from the 2021 American National Election Studies (ANES).

The data is visually structured as a four-panel grid, with each panel dedicated to the thermometer ratings provided by a specific respondent demographic: white, black, Hispanic, and Asian. While the chart clearly demonstrates universal in-group favoritism, a closer inspection reveals that the intensity and structure of this bias vary significantly across groups.

Black respondents, for instance, exhibit the most pronounced divergence, with their ratings of fellow blacks clustered at the extreme upper end of the scale, while their evaluations of whites, Hispanics, and Asians fall off sharply, producing the widest in-group/out-group gap in the dataset. By contrast, white respondents display a comparatively flattened distribution, with only a modest preference for their own group and relatively similar warmth ratings across all others. Hispanic and Asian respondents occupy an intermediate position, still favoring their own group but also revealing a discernible hierarchy in their evaluations of out-groups, suggesting that these preferences are not only binary but ordered along lines of perceived proximity or affinity. This pervasive, quantifiable tribalism forms the psychological substrate that jurors inevitably bring into the deliberation room.

When this baseline tribalism intersects with the criminal justice system, the results are catastrophic for the concept of blind justice. The Mitchell, Haw, Pfeifer, and Meissner (2005) meta-analytic table, titled “Moderator Analysis for Verdict Decisions” (Racial Bias in Sentencing Judgments), provides definitive proof.

The table tracks the effect size (d) of racial bias, where a positive number indicates a tendency to render harsher judgments against out-group defendants and more lenient judgments for in-group defendants. The data shows that black jurors exhibit a moderate, statistically significant in-group bias effect size of d = 0.428. In sharp contrast, white jurors demonstrate a negligible, statistically non-significant effect size of d = 0.028.

This immense disparity highlights that the ethnocentric bias is more than 15 times stronger for black jurors than for white jurors. This data shatters the prevailing media narrative that the legal system is plagued primarily by white racism. Instead, it proves that nonwhite jurors actively discriminate in favor of their own group, refusing to evaluate out-group defendants with the same leniency.

This dynamic is further corroborated by the U.S. pardoning-decisions bar chart titled “Black Americans and White Democrats Favor Black Criminals in Pardoning Decisions.”

The chart maps the average marginal effect on a 0-100 pardon support scale when the perpetrator is white versus black. The negative marginal effects vividly illustrate racial solidarity: white Democrats display a negative marginal effect of −7 to −8, indicating less support for pardoning white perpetrators compared to black ones. Black Democrats register a massive penalty of −12, and black Republicans also register at −12, indicating a severe, cross-partisan racial solidarity among black respondents in favor of black criminals. Meanwhile, white Republicans hover near zero (n.s.), showing no statistically significant racial preference.

The United Kingdom is not immune to these exact same forces. Research by Cheryl Thomas at UCL provides what can only be described as the smoking gun of ethnic jury nullification.

Displayed as a comparative bar chart titled “Juror Guilty Votes by Defendant and Juror Race (United Kingdom),” the graph contrasts the voting patterns of white jurors against black and minority ethnic (BME) jurors. White jurors voted to find white defendants guilty 39 percent of the time, and BME defendants guilty 32 percent of the time, demonstrating modest fairness and even a slight leniency toward minorities. However, the right side of the chart reveals a terrifying inversion: BME jurors voted to find white defendants guilty a staggering 73 percent of the time, but voted to convict BME defendants only 24 percent of the time.

This chart is the empirical death knell for the multicultural jury. It proves unequivocally that nonwhite jurors display overt levels of in-group bias and clear ethnocentric hostility toward white defendants. When jurors view the defendant box not as a space occupied by a tribal enemy or ally, the “little parliament” ceases to dispense justice. It dispenses ethnic warfare. The tension between group identity and individual impartiality cannot be resolved by mixed tribunals; it can only be suppressed by removing the public entirely and deferring to a judge-only system, which is precisely the trajectory the United Kingdom is now enforcing.

Yet, even removing the jury does not necessarily resolve the problem of impartiality. Judges, like all individuals, are not immune to social, cultural, or ideological influences. Many judges operate within broadly liberal legal frameworks, which can shape interpretive tendencies in ways that are not always neutral.

I explore this notion in greater detail in my article “They’re Not Left-Wing, They’re Anti-White,” where I examine the consequences of ideological bias.

The Decline of the “Common Culture”

The presumption that twelve randomly selected citizens can seamlessly converge upon a shared understanding of truth, duty, and justice is a uniquely Western inheritance. It presupposed a shared language, parallel moral intuitions, and a transcendent identity. The critical civilizational question now facing the United Kingdom, America, and the rest of the Western world is whether institutions built on the bedrock of cultural cohesion can survive once that cohesion has been deliberately dissolved.

The answer was forcefully articulated decades ago by Lee Kuan Yew, the founding father of Singapore. Trained as a lawyer at Cambridge, Lee initially absorbed the Anglo-American legal traditions. However, his firsthand experiences in the rapidly diversifying, post-colonial landscape of Singapore shattered any illusions about the universality of the jury system. The catalyst was the 1950 Maria Hertogh riots. The case involved a custody dispute over a Dutch-Eurasian girl, Maria, who was raised by a Malay Muslim foster mother, Che Aminah, during World War II. When a British colonial court in Singapore ordered the girl returned to her biological Dutch Catholic parents, the verdict was perceived as a tribal insult to Islam. The ensuing riots left 18 people dead and 173 injured, exposing the lethal volatility of imposing Western legal paradigms on a multireligious, multiracial populace.

Lee Kuan Yew learned from this bloodshed. As a young advocate, he later defended four Muslim men accused of murdering a British Royal Air Force officer, his wife, and his child during the riots. By his own admission in a 1977 BBC interview, Lee ruthlessly exploited the ethnic and religious allegiances of the jury, playing on their reluctance to convict their co-religionists of killing a white colonial officer in cold blood.i He secured an acquittal that left the judge disgusted and Lee himself feeling “quite sick.”ii He realized that justice was impossible when tribalism overrode the facts. Consequently, in 1969, Lee’s government completely abolished the jury system in Singapore.

His full verdict on multiracial jury trials remains a significant, black-and-white image of unvarnished truth: “In a multiracial society, trial by jury can result in communal prejudices influencing verdicts. . . . You cannot assume that each juror will set aside his race, language, and religion.” Expanding on this in his memoirs From Third World to First and in his BBC interview reflections, Lee positioned himself as the wise Asian statesman who saw clearly what Britain’s elites stubbornly refuse to admit: the Anglo-Saxon tradition of trial by jury only works for Anglo-Saxons or those thoroughly assimilated into their cultural inheritance. It fundamentally fails in a fragmented, non-Western demographic landscape because communal allegiances inevitably corrupt the scales of justice. A shared identity is the invisible scaffolding of the courtroom; without it, the edifice collapses.

Case Studies

For centuries, the defense held the right to dismiss potential jurors without cause, an essential tool for ensuring a fair trial. However, as the United Kingdom’s demographics began to shift in the twentieth century, ethnic-minority defense lawyers began weaponizing peremptory challenges to purge white jurors and architect racially stacked juries sympathetic to nonwhite defendants. The UCL paper by Lloyd-Bostock and Thomas maps this systemic erosion: the number of peremptory challenges was reduced to 12 in 1925, restricted to seven in 1949, slashed to three in 1977, and suffered total abolition by the Criminal Justice Act of 1988.

The tipping point was a notorious 1977 case in Thornton Heath, where a group of black youths was acquitted of serious charges after the defense cynically stacked the jury to ensure a sympathetic, ethnic-minority composition. As the UCL paper shows, the defense “privately agreed to exercise their peremptory challenges to ensure” a specific demographic makeup, resulting in acquittals that fueled the campaign for total abolition. The elites recognized that ethnic-minority lawyers were exploiting the rules to engineer acquittals, and rather than admit that diversity had compromised the system, they quietly revoked an ancient legal right from all citizens.

In the United States, ethnic jury nullification has repeatedly paralyzed the justice system. The Ethan Liming slaying in Akron, Ohio (2022) serves as a grim case study of this phenomenon. Liming, a 17-year-old white youth, was brutally beaten to death outside a school by three black males (including Deshawn and Tyler Stafford) following a minor altercation involving a water pellet gun. Despite the overwhelming brutality of the crime, a diverse jury acquitted the primary assailants of involuntary manslaughter, resulting in a hung jury and a mistrial on the most serious charges, allowing the perpetrators to escape with minor assault convictions. The Liming family was bewildered by grief, and their statement that they could simply not understand “why somebody who gets brutally beat by three individuals walks out with minor felonies” echoed the sentiments of a public witnessing the normalization of ethnic protectionism by coethnics in the jury box.

Similar subversions of justice occur relentlessly. In San Bernardino, California, Ari Young, a black man captured on cell phone video violently beating Deputy Megan McCarthy, stealing her service weapon, and firing it at her, was acquitted by a jury of assault with a firearm.

In Delaware, Calvin Ushery, a repeat offender caught on clear surveillance video brutally pistol-whipping and attacking 68-year-old Asian jewelry store owner Chang Suh with a hammer, was initially granted a mistrial after a jury deadlocked following two days of deliberation.

This was an overt display of black holdouts refusing to condemn a coethnic despite unimpeachable video evidence. Anecdotal accounts from jurors and prosecutors increasingly point to this reality: tribal loyalties frequently override objective evidence.

Conversely, the trial of Derek Chauvin for the death of George Floyd showcased the inverse dynamic. Juries heavily influenced by Black Lives Matter activism, operating in a heavily racialized atmosphere under the implicit threat of civil unrest, delivered swift, maximalist convictions. In these instances, the jury acts as an instrument of out-group targeting and political pacification.

In the U.K., this tribal protectionism operates in real time. Consider the recent trial of Labour Party councilor Ricky Jones at Snaresbrook Crown Court. Jones was filmed at an “anti-racist” rally explicitly calling for the throats of “disgusting Nazi fascists” to be slit, while mimicking the action across his own neck with his finger to a cheering crowd of thousands. The evidence was public and undisputed. Yet a jury swiftly returned a unanimous verdict of not guilty for the charge of encouraging violent disorder.

To understand the verdict, you must simply look at the Snaresbrook map and demographic statistics. The trial was held in a judicial district that is now less than half white British. The area is heavily populated by the very demographics sympathetic to Jones’s political and ethnic alignment. This is what “demography is destiny” looks like in real time, a jury that looked like “modern London” voted to protect one of their own, bypassing the objective law to deliver an ethnically and politically motivated acquittal. The evidence was simply ignored by a jury exercising its demographic prerogative.

Conclusion

The erosion of trial by jury is the death rattle of an ancient civilizational inheritance. The “little parliament” was forged in a society of high trust, shared heritage, and common moral purpose. It was designed to ensure that the law reflected the conscience of a unified community. But a nation cannot have a community conscience if it is no longer a cohesive community.

The empirical data referred to above is irrefutable. The evidence confirms what Lee Kuan Yew observed over half a century ago. Juries in multiracial societies deliver communal victories and tribal revenge. The elites, fully aware of this terminal decay, have chosen to dismantle the institution rather than abandon the demographic project that destroyed it.

By eliminating peremptory challenges and now rapidly moving to scrap the jury for all but the rarest of crimes under the guise of “swift courts,” the state is insulating itself from the chaotic realities of the society it has engineered. Demography is destiny. When the foundational culture is reduced to a minority in its own courtrooms, the civic institutions built by that culture perish. The lamp that shows that freedom lives is being extinguished, replaced by the cold, technocratic glare of the managerial state, ensuring that in the blind pursuit of multiculturalism, there will be no true justice left.

A great civilisation is not conquered from without until it has destroyed itself from within.”
— Will Durant

Tyler Durden Sat, 04/04/2026 - 19:15

Tehran's Toll Booth For Hormuz Strait Divides Countries Into 3 Categories

Zero Hedge -

Tehran's Toll Booth For Hormuz Strait Divides Countries Into 3 Categories

The last several days have seen a limited number of foreign vessels successfully and safely cross the Strait of Hormuz for the first time, amid the ongoing de facto military blockage by Iran.

A group of several vessels, namely French, Japanese, and Oman-linked ships were reported to have crossed the strait at the end of this week. This included Malta-flagged 'Kribi,' owned by French shipping group CMA CGM, having exited the Gulf through an Iranian-approved corridor, broadcasting "owner France" - as we reported earlier.

via Reuters/AJ

Interestingly, its route was identified by the shipping sourcel Lloyd's List as the "Tehran Tollbooth" - which references an emerging system imposed by Tehran that requires vessels to undergo vetting, disclose ownership and cargo details, as well as obtaining approval before transiting designated corridors.

Three additional tankers, including the LNG carrier 'Sohar LNG,' co-owned by Japan’s Mitsui O.S.K. Lines, also completed the crossing, reportedly by hugging the Omani coastline.

Mitsui confirmed the transit, stating the vessel is "the first Japan-linked vessel and the first LNG carrier" to exit the Gulf since the US-led war began. 

As for more details on this emerging Tehran-erected toll booth: "Following a 90% plunge in traffic through the Strait of Hormuz, as reported by CNBC, Iran has established a highly controlled shipping corridor near Larak Island. The IRGC is now charging tolls starting at $1 per barrel of oil, payable in Chinese Yuan or stablecoins," describes one source. This could amount to up to $2 million for each ship seeking passage. 

As for the vetting process, Russian media - citing Al Jazeera - says there will be three categories:

Iranian authorities have developed a system for managing shipping in the Strait of Hormuz and ensuring passage for vessels from different countries depending on the level of their relations with Tehran, Qatar’s Al Jazeera reported.

According to the TV channel, under Iran’s scheme, all states are divided into three categories: "hostile," "neutral," and "friendly." Countries in the first group will be prohibited from using the Strait of Hormuz, ships from "neutral" states will be subject to high fees, and "friendly" states will be granted the right of free passage through the strait.

Tehran has not provided a complete list of the three categories; however, according to Al Jazeera, virtually all Arab countries in the Persian Gulf are classified as "neutral" or "hostile" states. Under Iran’s plan, these states will either have to pay "substantial fees" or be completely barred from passing through the Strait of Hormuz.

//--> //--> //--> Will WTI Crude Oil (WTI) hit (HIGH) $200 in April?
Yes 2% · No 98%
View full market & trade on Polymarket

As a reminder, Brent futures and WTI futures both closed Friday in triple-digit territory as traders are becoming increasingly alarmed not just of the crude oil and LNG shortage spreading worldwide but also of petrochemical supply disruptions that are inbound that could affect plastics production, the core material that is bedrock for the modern economy.

Tyler Durden Sat, 04/04/2026 - 18:40

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

Zero Hedge -

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

Authored by Zachary Stieber via The Epoch Times,

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

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

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

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

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

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

A federal judge blocked the updates in March.

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

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

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

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

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

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

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

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

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

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

Tyler Durden Sat, 04/04/2026 - 18:05

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