Individual Economists

Baltic NATO Country Says It's Ready To Send Troops To Ukraine

Zero Hedge -

Baltic NATO Country Says It's Ready To Send Troops To Ukraine

A Baltic NATO country has belatedly jumped on board and backed French President Emmanuel Macron's idea of putting Western boots on the ground in Ukraine.

Lithuanian Prime Minister Ingrida Šimonytė said in an interview with the Financial Times this week that her country is prepared to deploy troops inside Ukraine. She stipulated it could be part of a training mission for Ukrainian troops if called upon.

However, a formal request from Kiev has not been made yet, she said. Šimonytė then admitted, "If we just thought about the Russian response, then we could not send anything."

"Every second week you hear that somebody will be nuked." Thus she appeared to openly admit that the consequences would likely be catastrophic and lead to WW3, even while saying Lithuania is open to the possibility.

"Russia is trying to provoke a new wave of people fleeing Ukraine because there are no basic utilities and no basic services," Šimonytė described of the current situation of unrelenting Russian attacks on the country's energy infrastructure.

Her words follow Macron telling the The Economist last week that NATO allies would "legitimately" have to consider sending troops to defend Ukraine in the scenario that Russian forces break through the front lines. Yet that already appears to be happening in the north, in Kharkiv region, where Russia has launched a rare cross-border offensive.

"Russia launched a new wave of counteroffensive actions... Ukraine met them there with our troops, brigades, and artillery," Ukrainian President Volodymyr Zelensky confirmed Friday. "Now there is a fierce battle underway."

The AFP has written, "If Moscow's advances are confirmed, it would represent the Russian military's largest land operation in the region since sending thousands of troops across the border in February 2022."

Last month, Germany sent an advance team of 20 soldiers to Lithuania, laying the groundwork for the recently discussed establishment of a permanent brigade in the NATO country.

You will find more infographics at Statista

According to Deutsche Welle reporting, the 5,000-strong strikeforce called Panzerbrigade 45 is said to become fully operational by 2027. The brigade will support the already existing so-called NATO Enhanced Forward Presence in the Baltic country, which, in contrast to Panzerbrigade 45, rotates its personnel regularly and was made up of soldiers from Germany, Belgium, Czechia, Luxembourg, the Netherlands, Norway and the United States as of December 2023.

Tyler Durden Sun, 05/12/2024 - 10:50

Nebraska Ends Income Taxes On Gold And Silver, Declares CBDC’s Are Not Lawful Money

Zero Hedge -

Nebraska Ends Income Taxes On Gold And Silver, Declares CBDC’s Are Not Lawful Money

Authroed by JP Cortez via the Mises Institute,

With Gov. Jim Pillen’s recent signature, Nebraska has become the 12th state to end capital gains taxes on sales of gold and silver.

LB 1317 is the fourth major sound money bill to become law this year, as state lawmakers across the nation scramble to protect the public from the ravages of inflation and runaway federal debt.

Under the new Nebraska law, any “gains” or “losses” on precious metal sales reported on federal income tax returns are backed out, thereby removing them from the calculation of a Nebraska taxpayer’s adjusted gross income (AGI).

Supported by the Sound Money Defense LeagueMoney Metals Exchange, and in-state advocates, Nebraska’s sound money measure passed out of the unicameral legislature’s Revenue committee unanimously before being amended into a larger bill.

Sponsor Sen. Ben Hansen said upon news of the formal enactment of his legislation:

Gold and silver are the only forms of currency mentioned in our Constitution and with that comes the people’s ability to use it as such without penalty from the government. Saving, and using, gold and silver is our right and one of the only checks and balances to our federal government’s unending devaluation of our paper currency.

Taxpayers often realize ‘gains’ when converting the monetary metals back into Federal Reserve notes even though the ‘gains’ do not reflect an increase in real value but rather reflect the currency’s ongoing devaluation.

Despite the lack of “real” gains, the Internal Revenue Service imposes capital gains taxes on such transactions. Nebraska has now opted out at the state level, declining to carry the IRS’s position into the definition of Nebraska income.

Jp Cortez, executive director of the Sound Money Defense League, explained during his testimony before the Revenue Committee that the ferocious wave of inflation facing Nebraskans is largely caused by harmful actions of the Federal Reserve:

The state can take a different course and provide Nebraska citizens cleaner access to gold and silver ownership – and these metals are not only a proven inflation hedge but states all over the country are remonetizing constitutional sound money in the form of gold and silver.

Eleven other states already do not charge an income tax on sales of precious metals, with Arkansas, Arizona, and Utah recently enacting such laws. Meanwhile, Iowa, Georgia, Oklahoma, Missouri, West Virginia, and Kansas have been considering similar legislation in 2024.

“Investments in precious metals coins and bullion in Nebraska are now rightly exempt from both sales tax and income tax,” said Stefan Gleason, CEO of Money Metals and Chairman of the Sound Money Defense League.

Neutralizing Nebraska’s income tax treatment of the monetary metals removes significant disincentives in the Cornhusker State against the ownership and use of the monetary metals.

Meanwhile, LB 1317 revises the state’s formal definition of money by adding language that states: “Money does not include central bank digital currency.”

The new law defines central bank digital currency as “a digital medium of exchange, token, or monetary unit of account issued by the United States Federal Reserve System or any analogous federal agency that is made directly available to the consumer by such federal entities. Central bank digital currency (CBDC) includes a digital medium of exchange, token, or monetary unit of account so issued that is processed or validated directly by such federal entities.”

Sen. Hansen said: “I believe we have to be extra vigilant in our assessment and application of a Central bank digital currency to make sure they do not become a danger to our freedom. That’s why we defined in LB 1317 that CBDC’s are not classified as currency in Nebraska, which should help protect against unwarranted mandates for their use in the future.”

Versions of this “anti-CBDC language” have advanced or signed into law in Tennessee, North Carolina, and FloridaSouth Dakota, and Indiana . Congressman Alex Mooney has also introduced a federal measure to block the Federal Reserve’s digital currency scheme.

In his testimony, Cortez discussed the potential risks of adopting a CBDC, including creating a greater ability to track all financial transactions, disallowing certain types of purchases, or even completely “turning off” a targeted individual’s access to money.

Nebraska joins UtahWisconsin, and Kentucky as states to have enacted pro-sound money legislation into law so far in 2024.

Currently ranked 22nd in the 2024 Sound Money Index, Nebraska’s ranking is expected to rise.

Tyler Durden Sun, 05/12/2024 - 10:15

Watch: Just Stop Oil Activists Try To Destroy Case Holding Original Magna Carta

Zero Hedge -

Watch: Just Stop Oil Activists Try To Destroy Case Holding Original Magna Carta

The Just Stop Oil and related green "Apocalypse" movements are poster children for modern Cultural Marxists - sharing similarities with the Chinese communist mobs behind the Cultural Revolution of 1966. The general goal of every Marxist movement is to undermine or sabotage any opposing culture using whatever means necessary so that it can be scrapped and replaced with a new progressive/collectivist system.  In particular, such activists have long targeted western civilization for demolition with the intention of bringing about a woke revolution.

This is why we often see the same people (or types of people) involved in seemingly separate causes.  It might be protests and riots in favor of BLM, it might be Antifa efforts to disrupt conservative and moderate speakers, it might be protests to control college campuses in the name of Gaza or it may even be anti-carbon protests to derail energy security in the name of "saving the planet" from a global warming threat that doesn't actually exist.

Most interesting is the habit of Just Stop Oil activists to target famous symbols of western history for defacement or destruction.  One might ask what does the Mona Lisa or the Magna Carta have to do with oil production or climate change, and the answer is absolutely nothing.  Protesters would claim that trying to destroy these antiquities is a way to get media attention for their cause, but the only attention they ever get is negative - These actions make people want to hate protesters rather than help them. 

The real message is one of aggression, not attention.  Marxist activists are saying that western culture, not oil, is their enemy. And, if they don't get what they want they will continue to try to smash our greatest works of art and historic documents as a means to tear the west down piece by piece.  When protesters declare the Magna Carta fair game it's not a random decision; they know exactly what they are doing.  In this situation, two gullible elderly women were obviously given a task they were not able to complete:

Rev. Sue Parfitt, 82, and Judy Bruce, 85, a retired biology teacher, were both arrested after they tried to smash a glass case containing the historical document at the British Library in London on Friday, London's Metropolitan Police said.  The Magna Carta is a revered 13th Century treaty that held English royalty to the same legal standards as the citizenry.  It is often cited as a precursor to later freedom-based documents like the US Constitution and a source for western democracy. 

The incompetence of Just Stop Oil protestors is the one saving grace in this scenario, and it is likely a natural consequence of the kinds of people that are attracted to the idea (high IQs apparently don't jump at the chance to join the ranks).  The group is, however, suspiciously coordinated and tends to receive favor from progressive political leaders.  It is a sad reflection of the ideological hysteria holding the world hostage today. With so many different movements chipping away at the foundations of the west, eventually something will break.            

Tyler Durden Sun, 05/12/2024 - 09:40

The Investment "Holy Grail" Doesn’t Exist

Zero Hedge -

The Investment "Holy Grail" Doesn’t Exist

Authored by Lance Roberts via realinvestmentadvice.com,

When it comes to the financial markets, investors have a litany of investment vehicles to choose from. The choices are nearly unlimited, from brokered certificates of deposit to complex derivative instruments. Of course, investment vehicles’ proliferation comes from investors’ demand for everything from excess benchmark returns to income generation to downside protection.

Of course, every investor wants “all the upside, with none of the downside.” While there are vehicles, like indexed annuities, that can provide no downside risk, they cap the upside return. If you buy an index fund, you can get “all the upside” and “all the risk.”

However, an email from a reader last week got me thinking about the perfect “investment vehicle” and the search for the “holy grail” of investing.

“My wife and I are looking for a place to position some of our ’emergency funds’ for a better return. Our requirements are pretty simplistic:

  • Guarantee at least a 4% rate of return.
  • Allow me to withdraw cash without penalty when needed.
  • Reinvest all income
  • If bond yields decline as expected, the value of the investment increases.

At this point, I was confident in just suggesting purchasing a 10-year Treasury bond. At current rates, the investment would yield greater than 4% and guarantee the principal. If yields decline, the bond rises in price, reinvestment of income is an option, and the investment is highly liquid.

Theoretically, this would be the “perfect investment” vehicle for their needs. I said “theoretically” because they added one more requirement just as I was about to spout off my terrific idea.

“Oh, and one more thing, the dollar value of the account must remain stable at all times.”

And that, as they say, quickly ended the “perfect investment” vehicle for their needs.

Why did the addition of “price stability” make their request impossible?

The 3-Components Of All Investments

In portfolio management, you can ONLY have two of three components of any investment or asset class:

  • Safety – The return of principal without loss due to price change or fees
  • Liquidity – Immediately accessible without penalties or fees
  • Return – Appreciation in the price of the investment

The table below is the matrix of your options.

The takeaway is that cash is the only asset class that provides safety and liquidity. Safety comes at the cost of return. Equities are liquid and provide returns but can suffer a significant loss of principal. Bonds can offer returns through income and safety if held to maturity. But in exchange for that safety, investors must forego liquidity.

In other words, no investment can provide all three factors simultaneously. While the table above uses only Equities, Bonds, and Cash, those three factors apply to any investment vehicle you may consider.

  • Fixed Annuities (Indexed) – safety and return, no liquidity. 
  • Certificates of Depositsafety and return, no liquidity.
  • ETFs – liquidity and return, no safety.
  • Mutual Funds – liquidity and return, no safety.
  • Real Estate – safety and return, no liquidity.
  • Traded REITs – liquidity and return, no safety.
  • Commodities – liquidity and return, no safety.
  • Gold – liquidity and return, no safety. 

You get the idea.

Let’s revisit our email question.

While I initially focused on the cash requirements, these were also funds set aside for an “emergency.” In other words, these funds must be readily available when an unexpected event arises. Since “unexpected events” tend to happen at the worst possible time, these funds should never be put at risk. The need for “safety” and “liquidity” eliminates the third factor: Return.

No matter what investment vehicle you choose, you can only have two of the three components. Such is an essential and often overlooked consideration when determining portfolio construction and allocation. 

8-Reasons To Focus On Liquidity

Liquidity is the most essential factor in making any investment. Without liquidity, I can not invest. Therefore, liquidity should always remain a high priority when managing your portfolio.

I learned a long time ago that while a “rising tide lifts all boats,” eventually, the “tide recedes.” Over the years, I made a straightforward adjustment to my portfolio management, which has served me well. When risks begin to outweigh the potential for reward, I raise cash.

The great thing about holding extra cash is that if I’m wrong, I simply make the proper adjustments to increase the risk in my portfolios. However, if I am right, I protect investment capital from destruction and spend far less time ‘getting back to even.’ Despite media commentary to the contrary, regaining losses is not an investment strategy. 

Here are 8-reasons why you should focus on liquidity first:

1) We are speculators, not investors. We buy pieces of paper at one price with hopes of selling at a higher price. Such is speculation in its purest form. When risk outweighs rewards, cash is a good option. 

2) 80% of stocks move in the direction of the market. If the market is falling, regardless of the fundamentals, the majority of stocks will decline also.

3) The best traders understand the value of cash. From Jesse Livermore to Gerald Loeb, each believed in “buying low and selling high.” If you “sell high,” you have raised cash to “buy low.”

4) Roughly 90% of what we think about investing is wrong. Two 50% declines since 2000 should have taught us to respect investment risks.

5) 80% of individual traders lose money over ANY 10-year period. Why? Investor psychology, emotional biases, lack of capital, etc. Repeated studies by Dalbar prove this. 

6) Raising cash is often a better hedge than shorting. While shorting the market, or a position, to hedge risk in a portfolio is reasonable, it also merely transfers the “risk of being wrong” from one side of the ledger to the other. Cash protects capital and eliminates risk. 

7) You can’t “buy low” if you don’t have anything to “buy with.” While the media chastises individuals for holding cash, it should be somewhat evident that without cash you can’t take advantage of opportunities.

8) Cash protects against forced liquidations. One of the biggest problems for Americans  is a lack of cash to meet emergencies. Having a cash cushion allows for handling life’s “curve-balls,” without being forced to liquidate retirement plans.Layoffs, employment changes, etc. are economically driven and tend to occur with downturns that coincide with market losses. Having cash allows you to weather the storms. 

Importantly, I want to stress that I am not talking about being 100% in cash.

I suggest that holding higher cash levels during periods of uncertainty provides both stability and opportunity.

With the political, fundamental, and economic backdrop becoming much more hostile toward investors in the intermediate term, understanding the value of cash as a “hedge” against loss becomes much more critical. 

Chasing yield at any cost has typically not ended well for most.

Of course, since Wall Street does not make fees on investors holding cash, maybe there is another reason they are so adamant that you remain invested all the time.

Lance Roberts is a Chief Portfolio Strategist/Economist for RIA Advisors. He is also the host of “The Lance Roberts Podcast” and Chief Editor of the “Real Investment Advice” website and author of “Real Investment Daily” blog and “Real Investment Report“. Follow Lance on Facebook, Twitter, Linked-In and YouTube

Tyler Durden Sun, 05/12/2024 - 09:05

Ukrainian Suicide Drone Attack At Russia's Volgograd Oil Refinery Sparks Fire

Zero Hedge -

Ukrainian Suicide Drone Attack At Russia's Volgograd Oil Refinery Sparks Fire

In defiance of repeated warnings from the Biden administration, the Ukrainian military is ramping up kamikaze drone attacks on the Russian energy complex, a move to hamper the nation's crude oil and crude product export revenues and curtail Moscow's ability to fund President Putin's 'special operation' in Ukraine.

The latest suicide drone attack struck early Sunday at Lukoil PJSC's large oil refinery in Volgograd, deep within the country and hundreds of miles east of the Ukrainian border, according to Bloomberg

"During the night of May 12, the air defense and electronic warfare forces fought off a drone on the territory of the Volgograd region," Governor Andrey Bocharov wrote on Telegram.

Unverified claims on X, one from OSINTtechnical said, "Overnight, Ukrainian forces successfully struck the Lukoil refinery in Volgograd, Russia. At least one drone hit the complex, reportedly setting the ELOU AVT-1 refining unit ablaze."

Belarus media outlet Nexta said, "UAVs attacked an oil refinery in Russia's Volgograd region. Propaganda media reported that after the strike, a heavy fire broke out."

Bloomberg noted, "The Volgograd refinery is capable of processing 14.8 million tons of oil a year and is among Russia's largest. It was previously struck by drones in February, when it temporarily cut back some of its operations."

On Thursday, a Ukrainian drone targeted Gazprom PJSC's Salavat Neftekhim, a top-producing petrochemical and oil-refining facility. On Friday, a drone strike targeted a smaller refinery in the Kaluga region.

In March, FT reported that the Biden admin was freaking out that Ukraine's drone strikes "risked driving up global oil prices."

One month later, in April, US Defense Secretary Lloyd Austin warned Ukraine that drone and missile attacks should not be focused on energy infrastructure but instead on military targets because of the risk of sending Brent crude prices over $100/bbl.

"Those attacks could have a knock-on effect in terms of the global energy situation," Austin said, adding, "Quite frankly, I think Ukraine is better served by going after tactical and operational targets that can directly influence the current fight."

In mid-April, Reuters estimated that Russia's refining capacity, which was offline due to drone attacks, was around 660,000 barrels per day, compared to 907,000 bpd offline at the end of March. Russia has stated it can repair all damaged units within two months. 

Russia's Energy Minister Nikolai Shulginov said all damaged refineries would be restarted by the beginning of June.

The main goal of the refinery drone attacks by Ukraine is to crush Moscow's funding of the war by curtailing crude product (such as diesel) exports. 

Days ago, Foreign Affairs magazine writer Sam Winter-Levy penned a note titled "Why Ukraine Should Keep Striking Russian Oil Refineries," explaining that "with less domestic refining capacity, Russia will be forced to export more of its crude oil, not less, pushing global prices down rather than up." 

If Biden's foreign policy is to keep Brent prices below $90/bbl before the November presidential elections, and if Levy's analysis is correct, then this could only mean more drone attacks. However, this risks further escalating the conflict as no peace deal is in sight and the world marches closer to World War III. 

Tyler Durden Sun, 05/12/2024 - 08:30

GOP Senators Want IRS To Yank Tax-Exempt Status For Organizations Involved In Campus Protests

Zero Hedge -

GOP Senators Want IRS To Yank Tax-Exempt Status For Organizations Involved In Campus Protests

A group of fifteen Republican Senators want the IRS to investigate whether groups involved in recent anti-Israel protests on college campuses violated their tax-exempt status by supporting Hamas, a designated terrorist group.

According to the letter, spearheaded by Sen. Joni Ernst (R-IA), the National Students for Justice in Palestine (NSJP), the AJP Educational Foundation (AJP), the Tides Foundation, the Westchester Peace Action Committee Foundation (WESPAC Foundation), and others were offered to IRS Commissioner Danny Werfel in order to determine if they "engaged in conduct warranting revocation of their tax-exempt statuses on the basis of their financial support of NSJP," Just the News reports.

The letter notes that victims of the Oct. 7 attack in Israel have sued AJP and NSJP, accusing them of being a propaganda division of Hamas, and suggests that the organizations have "control" over Students for Justice in Palestine chapters, which have been heavily involved in campus protests.

Notably, George Soros has funded Students for Justice in Palestine (NSJP) through a constellation of nonprofits which all lead to the billionaire agitator.

At three colleges, the protests are being encouraged by paid radicals who are “fellows” of a Soros-funded group called the US Campaign for Palestinian Rights (USCPR).

USCPR provides up to $7,800 for its community-based fellows and between $2,880 and $3,660 for its campus-based “fellows” in return for spending eight hours a week organizing “campaigns led by Palestinian organizations.”

They are trained to “rise up, to revolution.”

The radical group received at least $300,000 from Soros’ Open Society Foundations since 2017 and also took in $355,000 from the Rockefeller Brothers Fund since 2019. -NY Post

"It is long-established precedent that when 501(c)(3) organizations have ‘planned activities that violate laws’ or engage in activities designed ‘to induce the commission of a crime or if the accomplishment of the purpose is otherwise against public policy,’ the Internal Revenue Service (IRS) has grounds to revoke their tax-exempt status," reads the Ernst letter.

"In fact, the IRS has set the precedent that ‘organizations have been held not to qualify for IRC 501(c)(3) on grounds that the activities of the organizations in question contravened public policy even though the organizations did not violate any federal statutes or state or local laws."

The letter also points out that these organizations and the protests are supporting Hamas, which has been designated as a Foreign Terrorist Organization (FTO).

"In light of this abhorrent support for an FTO, we call on you to initiate an investigation to determine whether financial supporters of NSJP, including but not limited to AJP, the WESPAC Foundation, and the Tides Foundation, have engaged in conduct warranting their tax-exempt status to be stripped," they added.

The groups have defended themselves. For example, in a recent post on X, NSJP wrote that its members "are developing a generation of disciplined, politicized young leaders who will carry the torch of our struggle," adding "Long live the Student Intifada."

All of that said - Ernst is a huge recipient of pro-Israel campaign donations and has attended AIPAC events...

...so one has to wonder if using the IRS against Israel's enemies on this very horseshoe issue is anywhere near 'good faith.'

Read the letter below:

Tyler Durden Sun, 05/12/2024 - 08:00

UN Agency Closes Jerusalem HQ After Israeli Settler Arson Attacks

Zero Hedge -

UN Agency Closes Jerusalem HQ After Israeli Settler Arson Attacks

Via The Cradle

The UN Relief and Works Agency for Palestine Refugees (UNRWA) announced on Thursday that it is shutting down its headquarters in east Jerusalem after Israeli settlers carried out an arson attack on its building.

This was the second settler attack on the UNRWA building in less than a week, according to the agency’s general commissioner, Phillipe Lazzarini. 

"Our director, with the help of other staff, had to put out the fire themselves as it took the Israeli fire extinguishers and police a while before they turned up. This is an outrageous development. Once again, the lives of UN staff were at serious risk."

"In light of this second appalling incident in less than a week, I have taken the decision to close down our compound until proper security is restored," Lazzarini said. 

Video footage on social media showed the UNRWA building in flames as settlers were heard cheering in the background. There were no injuries, but the fires caused significant damage to property, according to WAFA news agency.

Just two days earlier, settlers attacked the same headquarters, throwing stones at UN staff members "under the watch of the Israeli police," Lazzarini added. 

The perpetrators of these attacks must be investigated, and those responsible must be held accountable. Anything less will set a new dangerous standard,” he said, adding that settlers have continuously attacked and harassed UNRWA staff for months. “On several occasions, Israeli extremists threatened our staff with guns.”

Settlers have been staging violent and provocative protests outside UNRWA headquarters for the past two months. 

The UN agency has been operating in support of Palestinian refugees and internally displaced Palestinians since 1950. The organization provides education, health care, and other services. In recent years, it has suffered a severe lack of funding for its global operations.

After the October 7 attacks, Israel accused UNRWA staff members of taking part in the attack.

Tyler Durden Sun, 05/12/2024 - 07:30

"Investment Into European Security": Poland Unveils New Fortifications On Belarus Border

Zero Hedge -

"Investment Into European Security": Poland Unveils New Fortifications On Belarus Border

Starting in 2022, NATO and EU member Poland began building a large border wall in order to keep migrants from crossing from Belarus. At the time Belarus, which is closely allied with Russia, was alleged by Warsaw to be 'weaponizing' migrants. Warsaw says this has not only continued but has escalated.

Poland is now seeking more funds from the European Union to further strengthen and extend its fence and fortifications on the Belarusian border while presenting the project as an "investment into European security."

Via AP

Prime Minister Donald Tusk confirmed during a televised visit to the border that new 'anti-migration structures have been erected.

"We have begun intensive work on modern fortification lines in many dimensions. This fortification will appear along the entire Polish border - here in the east- and we will inform public opinion," he said. He urged the EU to back the undertaking.

"This is the external border of Poland, as well as the European Union. Therefore, I have no doubt that the whole of Europe, I believe that we will get this, will have to invest in its security, investing in the eastern border of Poland and in the security of our borders," Tusk underscored.

"I know that there are more and more illegal crossings every day," Tusk continued while also citing the war in Ukraine as a chief cause. He described "the growing threat resulting from the Russian-Ukrainian war, Russia’s aggression against Ukraine and the uncertain geopolitical situation."

"I came today primarily so that both commanders and their subordinates have no doubt that the Polish state and the Polish government are with them in every situation, here at the border," Tusk continued.

He additionally said that he let it be known to his security commanders guarding the border that "there are no limits on resources when it comes to Poland’s security."

The crisis became acute in 2022, when thousands of migrants from Syria, Iraq, Yemen, Afghanistan and Africa first poured into Belarus and proceeded to the Polish border, where they endured bitter cold in their quest to cross the border. Poland alleged that Belarusian security was coordinating and facilitating the plot behind the secenes the whole time.

At times, the situation has brought major confrontations, for example when hundreds of migrants pushed toward the border near the Polish village of Kuznica and attempted to defeat a barbed wire fence with spades and other tools, clashing with Polish security on the other side. 

Tyler Durden Sun, 05/12/2024 - 07:00

10 Sunday Reads

The Big Picture -

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

The Modern Curse of Overoptimization: My current working definition of overoptimization goes like this: overoptimization has occurred when the introduction of immense amounts of information into a human system produces conditions that allow for some players within that system to maximize their comparative advantage, without overtly breaking the rules, in a way that (intentional or not) creates meaningful negative social consequences. I want to argue that many human systems in the 2020s have become overoptimized in this way, and that the social ramifications are often bad.(Freddie deBoer)

An Oil Price-Fixing Conspiracy Caused 27% of All Inflation Increases in 2021. The FTC just found evidence that American oil companies colluded with the Saudi government to hike gas prices, costing the average family $3,000 last year. The question is, what can we do about it? (BIG by Matt Stoller)

The Life and Death of Hollywood: Film and television writers face an existential threat. (Harper’s)

The New Propaganda War: Autocrats in China, Russia, and elsewhere are now making common cause with MAGA Republicans to discredit liberalism and freedom around the world. (The Atlantic) see also Extremist Militias Are Coordinating in More Than 100 Facebook Groups: After lying low for years in the aftermath of January 6, exclusive reporting shows, militia extremist groups and profiles have been quietly reorganizing and ramping up recruitment and rhetoric on Facebook. (Wired)

No One Knows What Universities Are For. “From the early 1990s to 2009, administrative positions at colleges and universities grew 10 times faster than tenured-faculty positions, according to Department of Education data.” (The Atlantic)

Florida’s Abortion Ban Will Reach Well Beyond Florida: As of Wednesday, Florida has banned abortion after six weeks of pregnancy. It will have far-reaching effects. (New York Times)

Meet AdVon, the AI-Powered Content Monster Infecting the Media Industry: Remember that AI company behind Sports Illustrated’s fake writers? We did some digging — and it’s got tendrils into other surprisingly prominent publications. (Futurism)

It’s Time to Tax the Billionaires: In the 1960s, the 400 richest Americans paid more than half of their income in taxes. Higher tax rates for the wealthy kept inequality in check and helped fund the creation of social safety nets like Medicare, Medicaid and food stamps. Today, the superrich control a greater share of America’s wealth than during the Gilded Age of Carnegies and Rockefellers. That’s partly because taxes on the wealthy have cratered. In 2018, America’s top billionaires paid just 23 percent of their income in taxes. For the first time in the history of the United States, billionaires had a lower effective tax rate than working-class Americans. (New York Times)

The Science Behind Why the World Is Getting Wetter: From East Africa to southeastern Australia, large parts of the planet are underwater after unusually heavy rains in unexpected areas. (Wall Street Journal) see also What Trump promised oil CEOs as he asked them to steer $1 billion to his campaign: Donald Trump has pledged to scrap President Biden’s policies on electric vehicles and wind energy, as well as other initiatives opposed by the fossil fuel industry. (Washington Post)

When a Bunch of Bloody Yanks Came for English Soccer: American investors are gobbling up the storied teams of the English Premier League — and changing the stadium experience in ways that soccer fans resent. (New York Times)

Be sure to check out our Masters in Business this week with with Jim O’Shaughnessy, founder and CEO of O’Shaughnessy Ventures. He is also chairman of the board at Stability AI. He is the host of the Infinite Loops podcast and the author of How to Retire RichInvest Like the Best, and Predicting the Markets of Tomorrow

 

Behind the Curtain: 6% of six states

Source: Axios

 

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

 

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

Here's Why Russia Is Making A Fresh Push Into Ukraine's Kharkov Region

Zero Hedge -

Here's Why Russia Is Making A Fresh Push Into Ukraine's Kharkov Region

By Andrew Korybko of the Korybko substack

The five objectives that are enumerated in this piece encapsulate what Russia nowadays aims to achieve after over two years of intense proxy warfare with NATO.

Zelensky claimed on Friday that Russia’s long-awaited offensive had finally begun following its fresh push into Kharkov Region from which it tactically pulled back in September 2022. This precedes him likely clinging to power on legally dubious pretexts once his term expires on 21 May and aligns with the Ukrainian Intelligence Committee’s prediction of political-military troubles heading into his summer.

Here are the five objectives that Russia arguably aims to achieve in view of the conflict’s larger context:

1. Create The Conditions For Russia To Control The Entirety Of Its New Regions

Russia’s increasingly frequent gains in Donbass over the past month speak to how serious Ukraine’s conscription and logistical crises have become, thus enabling Moscow to push them to the breaking point by opening up a new front at this precise moment in time. This is meant to facilitate a military breakthrough for expelling Ukrainian forces from the entirety of Russia’s new regions, with any collapse of the front lines consequently paving the way for achieving additional military-political goals.

2. Coerce Ukraine Into Demilitarizing All Of Its Rump Regions East Of The Dnieper

Russia is unlikely to make territorial claims to Ukraine’s rump regions east of the Dnieper due to the high cost of sustainably securing, rebuilding, and integrating them, which is why it’ll probably instead demand their demilitarization as a buffer zone in exchange for letting Kiev retain political control. Any areas that it captures throughout the course of this reportedly launched campaign could be handed back upon that happening in a variation of the alleged compromises contained in spring 2022’s draft treaty.  

3. Deter NATO From Crossing The Dnieper If Member States’ Forces Conventionally Intervene

Russia doesn’t want NATO conventionally intervening in this conflict, but if member states like France and/or Poland unilaterally do so in the event that the front lines collapse, then Moscow hopes that its newly announced tactical nuclear weapons exercises will deter them from crossing the Dnieper. In connection with that, India and/or the Vatican could convey Russia’s red line to NATO, while Russia could restrain itself from chasing fleeing troops to and over the river so as to not worsen the security dilemma.

4. Influence Ukraine’s Possibly Impending US-Backed Regime Change Process

The Kremlin won’t negotiate with Zelensky, Poroshenko, or any of the other Ukrainian figures that were just placed on its Interior Ministry’s wanted list since it regards them as illegitimate so the US couldn’t freeze the conflict without someone else in power. Russia’s foreign intelligence service recently reported that the US is already exploring possible replacements to Zelensky, and Moscow naturally wants to influence this process in order to filter out figures who it knows wouldn’t abide by any peace agreement.

5. End The Conflict In A Way That Ensures Russia’s Core Security Interests In The New Reality

Russia’s maximalist goals of demilitarizing Ukraine, denazifying it, and restoring that country’s constitutional neutrality are unlikely to be achieved in full given the new reality of NATO preparing for a conventional intervention up to the Dnieper in order to avoid a strategic defeat in this proxy war. Considering that, Russia must resort to creative military-diplomatic means for ensuring its core security interests, though that requires an information campaign for tempering its supporters’ expectations.  

----------

As argued above, Russia’s fresh push into Kharkov Region is intended to end this conflict by year’s end in the best-case scenario, though that of course can’t be taken for granted given the fog of war and innumerable variables that the public isn’t privy to. Nevertheless, the five objectives that were enumerated in this piece encapsulate what it nowadays aims to achieve after over two years of intense proxy warfare with NATO, which might lead to some observers recalibrating their analyses.

Tyler Durden Sat, 05/11/2024 - 23:50

The Latent Fascism Of Today’s Anti-Fascists

Zero Hedge -

The Latent Fascism Of Today’s Anti-Fascists

Authored by Aaron Kheriaty via the Brownstone Institute,

"Nothing can have as its destination anything other than its origin. The contrary idea, the idea of progress, is poison." -Simone Weil

The terms “fascist” and “fascism” are continuously bandied about today. But those who use these words most seem to understand them least, such that many of today’s self-styled anti-fascists paradoxically take on the central features of fascism to an extraordinary degree.

We can see contemporary fascist tendencies manifesting on both ends of the political spectrum — not only among white supremacists but also in the character types described by Eugene Rivers as “trust fund Becky with the good hair revolutionary communist” or “white boy Carl the anarchist from the Upper East Side who is a junior at Sarah Lawrence.”

Fascism is obviously worth opposing, but to be truly anti-fascist requires an understanding of how this ideology manifests in history and what the word actually designates. Already by the end of World War II, George Orwell noted that the term “fascist” was used so indiscriminately that it had become degraded to the level of a swearword synonymous with “bully.”

Contrary to popular belief, fascism does not represent counterrevolutionary or reactionary opposition to progressive ideas in the name of tradition. Many thinkers advanced this mistaken interpretation during the postwar period, including, among others, Umberto Eco’s list of “Ur-Fascist” features published in the New York Review of Books in 1995, Theodore Adorno’s concept of the “authoritarian personality” described in his influential 1950 book of that title, Wilhelm Reich (1946) and Eric Fromm’s (1973) psychoanalytic interpretations of repressive systems, and Antonio Gramsci’s (1929) widely accepted myth that fascism was a counterrevolutionary movement of the “petit bourgeois.”

The common mistake of all these interpretations involves generalizing the idea of fascism to include any movement that is either authoritarian or inclined to defend the past. This interpretation stems from an axiological faith (that is precisely the right word) in the value of modernity in the wake of the French Revolution.

Modernity is taken to be an inevitable and irreversible process of secularization and human progress, in which the question of transcendence — whether broadly Platonic or Christian — has entirely vanished, and in which novelty is synonymous with positivity. Progress rests upon the ongoing expansion of technology and individual autonomy. Everything, including knowledge, becomes a tool to pursue affluence, comfort, and well-being.

According to this faith in modernity, to be good is to embrace the progressive direction of history; to be evil is to resist it. Since fascism is clearly evil, it cannot be a development of modernity itself but must be “reactionary.” On this view fascism includes all those who fear worldly progress, have a psychological need for a strong social order to protect them, venerate and idealize a past historical moment, and so endow a leader with immense power to instantiate this.

According to this interpretation,” Augusto Del Noce wrote, “Fascism is a sin against the progressive movement of history;” indeed, “every sin boils down to a sin against the direction of history.”

This characterization of fascism is almost entirely mistaken and misses its central features. Giovanni Gentile, the Italian “philosopher of fascism” and Benito Mussolini’s ghostwriter, penned an early book on the philosophy of Karl Marx. Gentile attempted to extract from Marxism the dialectic core of revolutionary socialism while rejecting Marxist materialism. As the authentic interpreter of Marxist thought, Lenin naturally rejected this heretical move, reaffirming the unbreakable unity between radical materialism and revolutionary action.

Like Gentile, Mussolini himself spoke of “what is alive and what is dead in Marx” in his speech on May 1, 1911. He affirmed Marx’s core revolutionary doctrine — the liberation of man through the replacement of religion by politics — even while he rejected Marxist utopianism, which was the aspect of Marxism that made it a kind of secular religion. In fascism, the revolutionary spirit separated from materialism becomes a mystique of action for its own sake.

Scholars of fascism have noted both a “mysterious proximity and distance between Mussolini and Lenin.” In the 1920s Mussolini was constantly glancing in the rearview mirror at Lenin as a rival revolutionary in a kind of mimetic dance. In his will to dominate, Mussolini spontaneously identified himself with the Fatherland and with his own people; however, there was no trace in this of any tradition that he affirmed and defended.

In its origins and aims fascism is thus not so much a reactionary-traditionalist phenomenon, but a secondary and degenerative development of Marxist revolutionary thought. It represents a stage in the modern process of political secularization that started with Lenin. This claim may occasion controversy, but a philosophical and historical examination of fascism reveals it to be accurate.

We easily miss these features if we focus exclusively on the obvious political opposition between fascism and communism during the Spanish Civil War and World War II. The fact that their philosophies share common genealogical roots and revolutionary ideals means neither that Lenin was a fascist (he was not) nor that fascism and communism are the same thing (they are not and fought to the death to prove it). Keep in mind, however, that an enemy of my enemy is not necessarily my friend.

Fascism understands itself to be a revolutionary and progressive manifestation of power. As in communism, fascism replaces traditional religious principles with a secular religion in which the future — rather than an idealized past or meta-historical ideals — becomes an idol. Politics replaces religion in the quest to liberate humankind. Contrary to popular characterizations, fascism makes no attempt to preserve a heritage of traditional values against the advance of progress (one only has to look at fascist architecture for confirmation of this). Instead, it proceeds as the unfolding in history of a wholly novel and unprecedented power.

Nazism was not so much an extreme form of fascism but the mirror image inversion of communism (the revolution in reverse). It added to fascism’s features its own origin myth, which necessarily had to reach back to pre-history. Its odious blood-and-soil socialist nationalism inverted Marxist universalism, but likewise resulted in the most extreme expression of colonialism. As with fascism and communism, Nazism was always ahistorical and entirely uninterested in preserving anything meaningful from the past.

Rather than looking back to history or to trans-historical values, fascism strains forward and advances by means of a “creative destruction” that feels entitled to overturn everything standing in its way. Action for its own sake takes on a particular aura and mystique. The fascist unflinchingly appropriates and commandeers various sources of energy — whether human, cultural, religious, or technical — to remake and transform reality. As this ideology presses its advance, it makes no attempt to conform to any higher truth or moral order. Reality is simply that which must be overcome.

Like the postwar interpreters of fascism mentioned above, many today mistakenly believe that fascism is grounded in strong metaphysical truth claims — that fascist authoritarian personalities somehow believe they possess a monopoly on the truth. On the contrary, as Mussolini himself explained with absolute clarity, fascism is entirely grounded in relativism:

If relativism signifies contempt for fixed categories and for those who claim to be the bearers of objective immortal truth, then there is nothing more relativistic than fascist attitudes and activity. From the fact that all ideologies are of equal value, we fascists conclude that we have the right to create our own ideology and to enforce it with all the energy of which we are capable.

The horrors of World War II were misdiagnosed by the postwar intellectuals’ mistaken interpretation of fascism and Nazism: these ideologies, and the bloodbath they unleashed, represented not the failure of the European tradition but the crisis of modernity — the outcome of the age of secularization.

What are the ethical consequences of fascism? Once value is attributed to pure action, other people cease to be ends in themselves and become mere instruments, or obstacles, to the fascist political program. The logic of the fascist’s “creative” activism leads him to deny other people’s personhood and individuality, to reduce persons to mere objects. Once individuals are instrumentalized, it no longer makes sense to speak of moral duties towards them. Others are either useful and deployed or they are useless and discarded.

This accounts for the extraordinary narcissism and solipsism characteristic of fascist leaders and functionaries: anyone who embraces this ideology acts as though he is the only person who really exists. The fascist lacks any sense of the purpose of law, or any reverence for a binding moral order. He embraces instead his own raw will to power: laws and other social institutions are mere tools deployed in the service of this power. Because the fascist’s action requires no ultimate end, and conforms to no transcendent ethical norm or spiritual authority, various tactics can be embraced or discarded at whim — propaganda, violence, coercion, desecration, erasure, etc.

Although fascists fancy themselves creative, their actions can only destroy. Taboos are torn down indiscriminately and at will. Symbols rich with meaning — moral, historical, religious, cultural — are ripped from their context and weaponized. The past is nothing but an ideological tool or cipher: one can rummage around in history for useful images or slogans to deploy in service of expansive power; but wherever it is not useful for this purpose, history is discarded, defaced, toppled, or simply ignored as though it never existed.

What are fascism’s stated ideals — what is it supposedly for? By design, this is never made entirely clear, except to say that novelty for its own sake assumes a positive value. If anything is held sacred it is violence. As in Marxism, the word “revolution” takes on an almost magical, mystical significance. But as I explained in Part II of this series, the ideology of total revolution only ends up strengthening the present order and the stronghold of the elites, by burning away those residual elements of tradition that make possible a moral critique of this order.

The result is nihilism. Fascism celebrates an optimistic (but empty) cult of victory through force. In a reactionary backlash, neo-fascist “anti-fascists” mirror this spirit by a pessimistic passion for the defeated. In both cases, the same spirit of negation prevails.

With this description in mind, we can understand why the word “fascism” logically boomerangs back on many of today’s self-styled anti-fascists. The practical upshot for our culture wars is not merely that the cure might be worse than the disease, but that the most radical “cure” in this case just is the disease. The danger is that a thinly veiled fascism — marching mendaciously under an anti-fascist banner — will overtake and absorb legitimate attempts to cure our ills, including ethically valid attempts to cure the cancer of racism or address other societal injustices.

The same faith in modernity that led to mistaken interpretations of fascism after World War II also forces contemporary history and politics into unhelpful categories. If we question this axiological faith in the idea of modernity, we can establish a clearer view of 20th-century ideologies and their current manifestations. This entails neither automatically identifying the modernist or progressive view as anti-fascist, nor equating all forms of traditionalism (at least potentially) with fascism.

In fact, the distinction between traditionalists (if I must use this unsatisfying term) and progressives is apparent in the different ways they oppose fascism. By tradition I don’t mean reverence for a static repository of fixed forms or a desire to return to an idealized period of the past; rather, I refer to the etymological meaning of that which we “hand on” (tradere) and thereby make new. A culture that has nothing of value to bequeath is a culture that has already perished. This understanding of tradition leads to a critique of modernity’s premise of inevitable progress — a groundless myth we should discard precisely to avoid repeating the horrors of the 20th century.

This critique of modernity, and the rejection of ethics as “the direction of history,” leads to other insights regarding our present crisis. Rather than the standard left-right, liberal-conservative, progressive-reactionary categories of interpretation, we can see instead that the real political divide today is between perfectists and anti-perfectists. The former believe in the possibility of complete liberation of humanity through politics, whereas the latter regard this as a perennial error grounded in a denial of inherent human limitations. The acceptance of such limitations is elegantly expressed in Solzhenitsyn’s insight that the line between good and evil passes first neither through classes, nor nations, nor political parties, but right through the center of every human heart.

We are all aware of the horrifying consequences that follow when fascism slides, as it readily does, into totalitarianism. But consider that the defining feature of all totalitarianisms is not concentration camps or secret police or constant surveillance — though these are all bad enough. The common feature, as Del Noce pointed out, is the denial of the universality of reason. With this denial, all truth claims are interpreted as historically or materially determined, and thus, as ideology. This leads to the assertion that there is no rationality as such — only bourgeois reason and proletariat reason, or Jewish reason and Aryan reason, or black reason and white reason, or progressive reason and reactionary reason, and so forth.

One’s rational arguments are then taken to be mere mystifications or justifications and are summarily dismissed: “You think such-and-such only because you are [fill in the blank with various markers of identity, class, nationality, race, political persuasion, etc.].” This marks the death of dialogue and reasoned debate. It also accounts for the literally “loopy” closed-loop epistemology of contemporary social justice advocates of the critical theory school: anyone who denies being a [fill-in-the-blank epithet] only further confirms that the label applies, so one’s only option is to accept the label. Heads-I-win; tails-you-lose.

In such a society there can be no shared deliberation rooted in our participation in a higher Logos (word, reason, plan, order) that transcends each individual. As happened historically with all forms of fascism, culture — the realm of ideas and shared ideals — is absorbed into politics, and politics becomes total war. From within this framework, one can no longer admit any conception of legitimate authority, in the enriching etymological sense of “to make grow,” where we also derive the word “author.” All authority is instead conflated with power, and power is nothing but brute force.

Since persuasion through shared reasoning and deliberation is pointless, lying becomes the norm. Language is not capable of revealing truth, which compels assent without negating our freedom. Instead, words are mere symbols to be manipulated. A fascist does not attempt to persuade his interlocutor, he merely overpowers him — using words when these serve to silence the enemy or deploying other means when words will not do the trick.

This is always how things begin, and as the internal logic unfolds, the rest of the totalitarian apparatus inevitably follows. Once we grasp fascism’s deep roots and central features, one essential consequence becomes clear. Anti-fascist efforts can succeed only by starting from the premise of a universal shared rationality. Authentic anti-fascism will therefore always seek to employ nonviolent means of persuasion, appealing to evidence and to the conscience of one’s interlocutor. The problem is not just that other methods of opposing fascism will be pragmatically ineffective, but that they will unwittingly but inevitably come to resemble the enemy they claim to oppose.

We can look to Simone Weil as an authentic and exemplary anti-fascist figure. Weil always wanted to be on the side of the oppressed. She lived this conviction with exceptional single-mindedness and purity. As she relentlessly pursued the idea of justice inscribed in the human heart, she passed through a revolutionary phase, followed by a gnostic phase, before she finally rediscovered the Platonic tradition — the perennial philosophy of our shared participation in the Logos — with its universal criterion of truth and the primacy of the good. She arrived here precisely through her anti-fascist commitments, which entailed a rebellion against every delusional deification of man. Weil emerged from the modern world and its contradictions the way a prisoner emerges from Plato’s cave.

After volunteering to fight with the Republicans in the Spanish Civil War, Weil broke with the illusory anti-fascism of Marxist revolutionary thought. Recognizing that, in the end, “evil produces only evil and good produces only good,” and “the future is made of the same stuff as the present,” she discovered a more enduring anti-fascist position. This led her to call the destruction of the past “perhaps the greatest of all crimes.”

In her last book, written a few months before she died in 1943, Weil elaborated on the limits of both fascist vitalism and Marxist materialism: “Either we must perceive at work in the universe, alongside force, a principle of a different kind, or else we must recognize force as being the unique and sovereign ruler over human relations also.”

Weil was thoroughly secular prior to her philosophical conversion and her subsequent mystical experiences: her rediscovery of classical philosophy occurred not through any sort of traditionalism, but by living the ethical question of justice with full intellectual honesty and total personal commitment. In pursuing this question to the end, she came to see that human self-redemption — fascism’s ideal — is actually an idol. Those who want to be truly anti-fascist would do well to explore Weil’s writings. I will give her the last word, which contains the seeds of the way out of our crisis. In one of her last essays, she offers us not a counsel of facile optimism, but a beautiful thought about our unconquerable receptivity to grace:

At the bottom of the heart of every human being, from earliest infancy until the tomb, there is something that goes on indomitably expecting, in the teeth of all experience of crimes committed, suffered, and witnessed, that good and not evil will be done to him. It is this above all that is sacred in every human being.

Republished from The Simone Weil Center

Aaron Kheriaty, Senior Brownstone Institute Counselor, is a Scholar at the Ethics and Public Policy Center, DC. He is a former Professor of Psychiatry at the University of California at Irvine School of Medicine, where he was the director of Medical Ethics.

Tyler Durden Sat, 05/11/2024 - 23:10

Chicago Mayor Wants $1 Billion More For Schools Even Though 43% Of Teachers Are Chronically Absent

Zero Hedge -

Chicago Mayor Wants $1 Billion More For Schools Even Though 43% Of Teachers Are Chronically Absent

By Ted Dabrowski and John Klingner of Wirepoints

Chicago Mayor Brandon Johnson recently traveled to Springfield with a big wish list of stuff he wants from state lawmakers. Among them, $1 billion in extra funding for Chicago Public Schools.

We have a host of reasons why his demand should be categorically rejected. Among them, CPS already spends $29,000 per student, Chicago teachers are already among the nation’s highest paid in big cities and the Chicago Teachers Union refuses to close the many empty, failing schools across the district. Not to mention that both CPS and CTU refuse to hold themselves accountable to students. Just 20% of minority CPS children can read at grade level and in math it’s even worse.

Now add to that the growing rate of teachers simply not showing up to school. The U.S. Department of Education’s definition of chronic teacher absenteeism is 10 or more absences in a school year.

In CPS, the share of teachers who are chronically absent has jumped to 43% from 28% just seven years ago. The jump can’t be blamed on the pandemic, as the rate of absenteeism was rising (from 28% to 36%) even before covid hit.

Teacher attendance has a heavy impact on student outcomes. From the Illinois State Board of Education’s Report Card:

“Teacher attendance is a “leading indicator” of student achievement, according to the U.S. Department of Education. Teachers with regular attendance provide continuity of instruction and attention to individual students. The National Bureau of Economic Research has shown that when teachers are absent for 10 days or more, student outcomes decrease significantly.”

Instead of asking for more money, Mayor Johnson should make sure his CTU brethren are actually in the classroom. He should then set dramatically higher reading and math proficiency targets that both he and teachers are held accountable for. 

And then the mayor should make those targets public.

Tyler Durden Sat, 05/11/2024 - 22:30

Your Tax Dollars At Work: In Two Years, $7.5 Billion Has Produced Just 7 EV Charging Stations

Zero Hedge -

Your Tax Dollars At Work: In Two Years, $7.5 Billion Has Produced Just 7 EV Charging Stations

When people gripe about paying taxes and the government being a poor the absolute worst possible capital allocator, this is what they are talking about: $7.5 billion in investments for electric vehicles hasin two years - produced just 7 charging stations across four states. 

The Bipartisan Infrastructure Law, signed by Biden in November 2021, allocated $7.5 billion for EV charging, the Washington Post writes. Of this amount, $5 billion went to states as "formula funding" for the National Electric Vehicle Infrastructure program to establish a network of fast chargers along major highways.

Today, there's seven chargers with a total of just 38 parking spots. And, come on: when the Post is calling it out, you know the results have been horrible. 

The Post added that with the Biden administration's new emissions rules requiring more electric and hybrid vehicles, the slow pace of charging infrastructure development could hinder the transition to electric cars. Twelve additional states have awarded contracts for charging station construction, while 17 states have yet to issue proposals.

Alexander Laska, deputy director for transportation and innovation at the center-left think tank Third Way, told The Post: “I think a lot of people who are watching this are getting concerned about the timeline.”

The slow rollout of new EV chargers is partly due to higher standards compared to previous fast chargers. The U.S. has nearly 10,000 fast charging stations, including over 2,000 reliable Tesla Superchargers, but non-Tesla chargers often suffer from poor performance.

New Biden administration rules require chargers to be 97% operational, offer 150kW power, and be within one mile of highways. These standards are crucial but slow down progress due to complex rules, permitting challenges, and power demands. The NEVI program aims to boost fast charging capacity by 50% to reduce "range anxiety," but states must first build the chargers.

Cathy McMorris Rodgers (R-Wash.), Jeff Duncan (R-S.C.) and Morgan Griffith (R-Va.) wrote to the Biden Administration last month: “We have significant concerns that under your efforts American taxpayer dollars are being woefully mismanaged.”

“State transportation agencies are the recipients of the money. Nearly all of them had no experience deploying electric vehicle charging stations before this law was enacted,” Nick Nigro, founder of Atlas Public Policy added.

The Federal Highway Administration responded: “We are building a national EV charging network from scratch, and we want to get it right. After developing program guidance and partnering with states to guide implementation plans, we are hitting our stride as states move quickly to bring NEVI stations online.”

“More Americans are buying EVs every day — with EV sales rising faster than traditional gas-powered cars — as the President’s Investing in America agenda makes EVs more affordable, helps Americans save money when driving, and makes EV charging accessible and convenient," a White House spokesperson added.

Tyler Durden Sat, 05/11/2024 - 21:50

The Proof Of Censorship Is…Censored

Zero Hedge -

The Proof Of Censorship Is…Censored

Authored by Jeffrey A. Tucker via the Brownstone Institute,

It’s not been a good week for the Censorship Industrial Complex. 

The machine has been built and put into action over nearly a decade but largely in secret. Its way of doing business has been via surreptitious contacts with media and tech companies, intelligence carve-outs in “fact-checking” organizations, payoffs, and various other clever strategies, all directed toward boosting some sources of information and suppressing others. The goal has always been to advance regime narratives and curate the public mind. 

And yet, based on its operations and insofar as we can tell, it had every intention of remaining secret. This is for a reason. A systematic effort by government to bully private sector companies into a particular narrative while suppressing dissent contradicts American law and tradition. It also violates human rights as understood since the Enlightenment. It was a consensus, until very recently, that free speech was essential to the functioning of the good society. 

Four years ago, many of us suspected censorship was going on, that the throttling and banning was not merely a mistake or the result of zealous employees stepping out of line. Three years ago, the proof started to arrive. Two years ago, it became a flood. With the Twitter files from a year ago, we had all the proof we needed that the censorship was systematic, directed, and highly effective. But even then, we only knew a fraction of it. 

Thanks to discovery from court cases, FOIA requests, whistleblowers, Congressional inquiries thanks to the very narrow Republican control, and some industrial upheavals such as what happened at Twitter, we are overwhelmed with tens of thousands of pages all pointing to the same reality. 

The censors developed a belief at the highest levels of control in government that it was their job to govern what information the American people would and would not see, regardless of the truth. The actions became truly tribal: our side favors banning gatherings, closing schools, says the Hunter Biden laptop is a fake, favors masking, mass vaccination, and mail-in voting, and denies the import of voter fraud and vaccine injury, whereas their side takes the opposite approach. 

It was a war over information, undertaken in total disregard for the First Amendment, as if it doesn’t even exist. Moreover, the operation was not only political. It clearly involved intelligence agencies that were already hip deep in the “all-of-society” pandemic response. 

“All of Society” means all, including the information you receive and are allowed to distribute. 

A vast swath of unelected bureaucrats took it upon themselves to manage all knowledge flows in the age of the Internet, with the ambition to turn the main source of news and sharing into a giant American version of Pravda. All of this occurred right under our noses – and is still going on today. 

Indeed, censorship is a full-on industry now, with hundreds and thousands of cut-outs, universities, media companies, government agencies, and even young people in school studying to be disinformation specialists, and bragging about it on social media. We are just one step away from a New York Times article – as follow-ups to their recent praise of the Deep State and also government surveillance – with a headline like “The Good Society Needs Censors.”

Incredibly, the censorship is so pervasive now that it is not even reported. All these revelations should have been front page news. But so captured is the news media today that there are very few outlets that even bother to report the fullness of the problem. 

Not receiving nearly enough attention is the new report from the Committee on the Judiciary and the Select Subcommittee on the Weaponization of the Federal Government of the US House of Representatives. 

Running nearly 1,000 pages including documentation (however many pages are purposely blank), we have here an overwhelming amount of evidence of a systematic, aggressive, and deeply entrenched effort on the part of the federal government, including the Biden White House and many agencies including the World Health Organization, to tear out the guts of the Internet and social media culture and replace them with propaganda. 

Among the well-documented facts are that the White House directly intervened in Amazon’s own marketing methods to deprecate books that raised doubts about the Covid vaccine and all vaccines. Amazon responded reluctantly but did what it could to satisfy the censors. All these companies – Google, YouTube, Facebook, Amazon – became acquiescent to Biden administration priorities, even to the point of running algorithmic changes by the White House before implementation. 

When YouTube announced that it would take down any content that contradicted the World Health Organization, it was because the White House instructed them to do so. 

As for Amazon, which is like every publisher in wanting full freedom to distribute, they faced intense pressure from government.

These are just a few of thousands of pieces of evidence of routine interference from government against social media companies, either directly or through various government-funded cut-outs, all designed to enforce a certain way of thinking on the American public. 

What’s amazing is that this industry was allowed to metastasize to such an extent over 4-8 years or so, with no legal oversight and very little knowledge on the part of the public. It’s as if there is no such thing as the First Amendment. It’s a dead letter. Even now, the Supreme Court seems confused, based on our reading of the oral arguments over this whole case (Murthy v. Missouri). 

One gets the sense when reading through all this correspondence that the companies were more than a bit rattled by the pressure. They must have wondered a few things: 1) is this normal? 2) do we really have to go along? 3) what happens to us if we just say no?

Probably every corner grocery store in any neighborhood run by a crime syndicate in history has asked these questions. The best answer is to do what you can in order to make them go away. This is precisely what they did time after time. After a while, the protocol probably begins to feel normal and no one asks anymore the basic questions: is this right? Is this freedom? Is this legal? Is this just the way things go in the US?

No matter how many high officials were involved, how many in the C-suites of big companies participated, however many editors and technicians of the best credentials played along, there can be no question that what took place was an absolute violation of speech rights that very likely exceeds anything we’ve seen in US history. 

Keep in mind that we only know what we know, and that is severely truncated by the force of the machinery. We can safely assume that the truth actually is far worse than we know. And further consider that this censorship is keeping us from knowing the full story about the suppression of dissidents, whether medical, scientific, political, or otherwise. 

There might be millions in many professions who are suffering right now, in silence. Or think of the vaccine-injured or those who have lost loved ones who were forced to get the shot. There are no headlines. There are no investigations. There is almost no public attention at all. Most of the venues that we once thought would police such outrages have been compromised. 

To top it off, the censors are still not backing down. If you sense a lessening of the grip for now, there is every reason to believe it is temporary. This industry wants the entire Internet as we once conceived of it completely shut down. That’s the goal.

At this point, the best means of defeating this plan is widespread public outrage. That is made more difficult because the censorship itself is being censored. 

This is why this report from the US House of Representatives needs to be widely shared so long as doing so is possible. It could be that such reports in the future will themselves be censored. It could also be the last such report you will ever see before the curtain falls on freedom completely. 

Jeffrey Tucker is Founder, Author, and President at Brownstone Institute. He is also Senior Economics Columnist for Epoch Times, author of 10 books, including Life After Lockdown, and many thousands of articles in the scholarly and popular press. He speaks widely on topics of economics, technology, social philosophy, and culture.

Tyler Durden Sat, 05/11/2024 - 21:10

Chevy Forced To Ditch Its Long-Running Malibu Model As Forced Transition To EVs Continues

Zero Hedge -

Chevy Forced To Ditch Its Long-Running Malibu Model As Forced Transition To EVs Continues

One of Chevy's longest running vehicle models has now fallen at the hands of the company's transition to EVs. The Chevy Malibu will be no longer, according to a new report from Car and Driver

The Chevy Malibu, one of the longest-running and most successful vehicles in history, is being discontinued again. Chevrolet informed Car and Driver that production will end in November 2024 as the automaker invests $390 million in its Fairfax Assembly Plant in Kansas.

Car and Driver reports that GM will also pause production of the Cadillac XT4 in January to retool for the Ultium-based Bolt EV. Production will resume in late 2025, with the XT4 and Bolt EV sharing an assembly line.

Despite Chevy's shift towards crossovers and SUVs, the Malibu remained a steady presence, with over 10 million units sold across nine generations. However, its discontinuation comes as a surprise given GM's recent EV challenges, including missing the goal of selling 400,000 EVs by mid-2024 and reintroducing plug-in hybrids to North America.

"We've been somewhat lukewarm toward the Malibu in recent years, but we'll certainly lament the passing of such a longstanding nameplate. Who knows? Maybe GM will revive it as an EV in another 15 years," Car and Driver wrote

Meanwhile just days ago we published an article highlighting how Ford's $120,000 loss per vehicle makes it fairly clear that California (and the nation's) EVs goals are unreachable. 

On April 24, Ford reported it lost $132,000 for each of its 10,000 electric vehicles sold in the first quarter of 2024, according to CNN. The sales were down 20 percent from the first quarter of 2023 and would “drag down earnings for the company overall.”

The Epoch Times notes that the losses include “hundreds of millions being spent on research and development of the next generation of EVs for Ford. Those investments are years away from paying off.” Ford is the only major carmaker breaking out EV numbers by themselves. But other marques likely suffer similar losses.

Californians bought 1.78 million new vehicles in 2023, reported the California New Car Dealers Association. Multiply that number by $132,000 and you get $235 billion. That would bankrupt every car manufacturer, meaning they just would pull out of selling anything in the state.

The California government would have to set up socialist, government-owned companies to make the cars, like the infamous Yugo. Dubbed “the worst car in history,” it was sold in America in the 1980s and was made by the communist Yugoslav government just before the country itself broke up in 1991.

And compared to that...the not-especially-wonderful-looking Malibu wouldn't look that bad...

Tyler Durden Sat, 05/11/2024 - 20:30

Gaza Truce Talks 'Back To Square One'

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Gaza Truce Talks 'Back To Square One'

For several months running there have been a seeming myriad of sometimes contradictory headlines saying a Hamas-Israel truce is "close," or "nearing the finish line" or else "stalled" or also "progressing"... Friday saw truce talks come full circle with the following Hamas statement cited in Reuters:

The Palestinian militant group Hamas said on Friday efforts to agree to a ceasefire for the Gaza Strip were back at square one after Israel effectively rejected a proposal by international mediators.

Via AFP

The representatives of both sides for the 'indirect' talks in Cairo (and which are also mediated by Qatar) have gone home with nothing substantive having been advanced.

Israeli media also confirms the talks "appeared to break up with no discernable progress, as the terror group said it had no intention of budging from a proposal already rejected by Israel."

"A senior Israeli official said the Israeli team had also left after handing mediators a list of its reservations about the Hamas proposal," the report continues.

Earlier in the week Hamas issued a statement saying, "The ball is now completely in the hands of the occupation." So indeed neither side is backing away from their demands, and the stalemate has ensued.

A key point of contention has been Hamas' demand that Israel's military withdraw from the Gaza Strip in full and on a permanent basis in order to receive hostages back, while Israel has interpreted this to mean a mere temporary pause in fighting and removal of some forces.

Currently, Israel appears to be moving forward with the Rafah operation, and has the eastern part of the city surrounded. A main road dividing the eastern and western halves of the city has been captured by IDF tanks.

The UN has warned that humanitarian aid workers cannot access the surrounded part of the city. Rafah currently is home to some 1.3 million displaced persons, and aid workers fear that a massacre will result if there's a full ground operation.

But the Netanyahu government has never backed off from its insistence that Hamas can only be finished off if the IDF goes into Gaza to take out the final brigades and commanders. 

Meanwhile, tens of thousands of Palestinians have been seen pouring out of Rafah, but it's unclear where they will ultimately go. Egyptian security forces have had a heavy presence on the other side of the border, fearing that the Rafah crossing could be overrun. 

Tyler Durden Sat, 05/11/2024 - 16:30

Average Credit Card Debt In US Now Soaring Past $6,500

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Average Credit Card Debt In US Now Soaring Past $6,500

Authored by Mary Prenon via The Epoch Times (emphasis ours),

This illustration picture shows debit and credit cards arranged on a desk in Arlington, Va., on April 6, 2020. (Olivier Douliery/AFP via Getty Images)

A just-released report from Scholaroo indicates that the U.S. national average for credit card debt has escalated to $6,555, with New Jersey residents leading the nation with an average debt of $8,155 per credit card. Scholaroo, a national firm matching college students with potential scholarships, surveyed more than 2,000 people across the United States during the final quarter of 2023.

Coming in at a close second is Connecticut, with an average debt of $8,011 per credit card, followed by Maryland, New York, and Alaska—all with average credit card debts of more than $7,600 per card. Rounding out the top 10 states are Colorado, California, Massachusetts, Florida, and Hawaii, all with average credit card debts in excess of $7,400.

“New Jersey residents’ debt surpasses the national average by 24 percent, while Mississippi has the lowest average credit card debt, with debtors owing just $5,186—20 percent less than the national average,” the report states.

Kentucky and Indiana also fell on the lower side, with an average of $5,295.

(Source: Scholaroo)

Bruce McClary, senior vice president of membership and media relations for the National Foundation for Credit Counseling (NFCC), told The Epoch Times that amount of debt is not surprising as many people are forced to use their credit cards just to stay afloat. “Things are so much more expensive than they were three years ago,” he said. “The runaway inflation is affecting grocery prices, and we’ve seen a roller-coaster ride for gasoline prices. Many people don’t have the money in their budgets for these added expenses and so they’re using credit cards and making minimum payments each month.”

Based in Washington, the NFCC was founded in 1998 as a nonprofit credit-counseling source for people who need help in managing their debts. Its recently released Harris poll also surveyed 2,000 adults nationwide and found similar outstanding debt values. But the overall results were even more surprising: Nearly 32 percent of Americans are just getting by financially, while 62 percent fear that government instability will hurt their finances in the next 12 months.

The biggest concern is that if people continue to carry that much debt from month to month, making only the minimum payments required, it could take years to pay it off, and they’ll find it extremely difficult to save any money,” Mr. McClary said.

The Harris poll also indicated that 31 percent of Americans don’t pay all their bills on time and that only 42 percent have a budget and keep track of spending. Almost 40 percent of those surveyed are concerned that the money they have or will save won’t last.

The poll found that the most affected groups are people who are single, rent instead of own, are parents of children under 18, and have incomes of $50,000 or less.

“Today’s higher rents may also be responsible for this credit card debt situation,” Mr. McClary said. “Most are paying way more than the recommended percent of their income toward rent, so now they’re faced with managing the rest of their expenses like groceries, utilities, gas, medical bills, and more. They’re finding they have to rely on the credit cards to help make ends meet.”

As a result, many have already been priced out of the ever-skyrocketing housing market.

“Ten years ago, Seattle was one of those cities considered to be affordable, but there’s been such a tremendous increase in rents there that many people are no longer able to afford buying or even renting there,” Mr. McClary said.

The Federal Trade Commission’s (FTC’s) Consumer Advice Department recommends that those having difficulty making even the minimum monthly credit card payments first talk with the company to ask for its help.

“Your goal is to work out a modified payment plan that lowers your payments to a level you can manage,” the FTC’s website states. “Creditors may be willing to negotiate with you even after they write your debt off as a loss, as you will still owe that debt.”

The NFCC also provides renegotiation services with credit card companies to reduce the monthly interest rates, which can sometimes be as high as 20 percent.

“What we try to do is help people regain control of their unmanageable debt by looking at their income and financial obligations and work out a livable budget,” Mr. McClary said. “It’s like a tire finally getting some traction after spinning in the mud for so long.”

(Source: Scholaroo)

There seems to be no slowdown in Americans’ love of credit cards. According to the Scholaroo report, last year, almost 45.5 percent of the U.S. population opened at least one new credit card account, resulting in some 542.6 million new accounts by the end of 2023. While more than 50 percent of Americans prefer using debit cards for their day-to-day expenses, credit cards stand as the second most favored choice, with 36 percent of the population using them for their daily transactions.

Tyler Durden Sat, 05/11/2024 - 15:50

First F-16s To Arrive In Ukraine 'Within Weeks' From West, But Will It Matter?

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First F-16s To Arrive In Ukraine 'Within Weeks' From West, But Will It Matter?

A high-ranking UK military source has told London's daily Evening Standard newspaper that F-16 fighters will be delivered by the Western allies to Ukraine "within weeks"

The official indicated that the aircraft are due to arrive by June, or at least July at the latest. The US previously authorized NATO countries to supply the US-made fighters to Kiev, at a moment Russia still controls the skies and has been degrading the country's energy infrastructure via frequent attacks. Zelensky previously called the decision by the Biden administration "a breakthrough". 

Even small NATO states like Denmark are reportedly involved in handing over a few of its F-16s. Others in the program include the Netherlands, Norway and Belgium. Some of the planes are currently reported to be at a training facility in Romania, as efforts to prepare Ukrainian pilots for aerial combat in the Western fighters appear in their final phases.

Romanian F-16 file image

The Dutch especially are playing a big part, having committed to delivering a total of 24 F-16s for Ukraine's armed forces.

But a big question remains at a moment it's been widely acknowledged that Ukraine is losing the conflict: will the US-made fighter jets make an actual difference at this late stage where Moscow is clearly dominant? The Evening Standard bluntly admits the following:

But US officials have privately said the jets will not be a game changer when they eventually arrive after months of training, given the strength of the Russian air force and its defense systems.

So essentially, aircraft worth multiple tens of millions of dollars each are being primed to get shot down in what will likely prove a major humiliation for the West. 

Putin has already vowed that his forces will prioritize taking out Western-supplied fighter jets. In March, the Russian leader said during an address to pilots, "We will destroy their warplanes just as we destroy their tanks, armored vehicles and other equipment, including multiple rocket launchers."

Significantly, he warned at the time that even bases in Western countries could be targeted if Ukraine flies sorties from them. "Of course, if they are used from airfields of third countries, they become a legitimate target for us, wherever they are located," Putin had said.

Beginning last summer the Kremlin began highlighting that F-16 fighter jets are capable of carrying tactical nukes which are in select NATO countries' possession. Russian Foreign Minister Sergey Lavrov for example at that time explained, "Moscow can’t ignore the nuclear capability of US-designed F-16 fighter jets that may be supplied to Ukraine by its Western backers. He went so far as to say that it will be seen as a threat from the West "in the nuclear domain."

Tyler Durden Sat, 05/11/2024 - 15:10

Over 124 Pounds Of Cocaine And Fentanyl Seized In El Paso In 1 Week

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Over 124 Pounds Of Cocaine And Fentanyl Seized In El Paso In 1 Week

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

U.S. Customs and Border Protection (CBP) officials in the El Paso region seized more than 124 pounds of fentanyl and cocaine last week in four separate incidents, amid criticism of lax border policies.

On April 30, officers working at the Bridge of the Americas seized cocaine totaling 42.5 pounds, according to a May 3 press release from the CBP.  The drugs were found to be concealed inside a Hyundai Elantra vehicle allegedly driven by a 48-year-old American citizen. “The seizure was made when CBP officers monitoring the Low Energy Portal inspection system spotted anomalies in the appearance of the vehicle and advised primary CBP officers,” the release noted.

A canine sweep of the car was positive and a Z-Portal (X-ray) scan of the car also revealed anomalies. CBP officers removed 18 cocaine-filled bundles from the rocker panels of the car.”

On May 1, CBP officers at the El Paso Ysleta Port of Entry captured 11.2 pounds of fentanyl that were concealed in a Seat Ibiza vehicle. The drugs were allegedly being transported by a 26-year-old Mexican national. CBP seized the fentanyl during an enforcement operation.

The vehicle in question was selected for a secondary exam, following which bundles of fentanyl were discovered in the central console area. In total, 15 packages were removed from the compartment, according to CBP.

Last week, two more cocaine seizures were made by El Paso CBP officers totaling 70.8 pounds. The arrested individuals were handed over to federal authorities.

“The drugs seized by our CBP workforce will not cause harm in the communities we share,” Hector A. Mancha, CBP El Paso’s director of field operations, said. “We are hard at work every day utilizing multiple tools to identify and stop those who attempt to circumvent our inspection process.”

The CBP’s drug seizures come as former President Donald Trump blamed the Biden administration’s open border policies for fueling fatal drug overdoses in the United States.

“This is country-changing, it’s country-threatening, and it’s country-wrecking,” he said during an event last month. “They have wrecked our country. But I stand before you today to declare that Joe Biden’s border bloodbath ... it’s going to end on the day that I take office.”

On his campaign website, President Trump said he marshaled the full power of government during his administration to prevent the inflow of drugs into the country, driving down drug overdose deaths for the first time in three decades.

The former president “will impose a total naval embargo on cartels, order the Department of Defense to inflict maximum damage on cartel leadership and operations, designate cartels as Foreign Terrorist Organizations, and choke off their access to the global financial system,” the Trump campaign said.

“President Trump will get the full cooperation of neighboring governments to dismantle the cartels, or else expose every bribe and kickback that allows these criminal networks to preserve their brutal reign. He will ask Congress to ensure that drug smugglers and traffickers can receive the Death Penalty.”

The Biden administration said it was taking steps to counter the drug issue. In February, two senior administration officials said the United States and Mexico will boost data sharing to curb the inflow of synthetic drugs into America.

The agreements are part of a wide effort “to facilitate action against criminal organizations that traffic people, guns, and illicit drugs, including fentanyl into our communities.”

In a factsheet released last November, the White House said, ”The U.S. government, alongside our partners, will continue our efforts to prevent the production and trafficking of illicit synthetic drugs through multiple efforts, including the Global Coalition to Address Synthetic Drug Threats, which has brought together over 100 countries to collectively address the scourge of fentanyl.”

Fentanyl, China

The fentanyl crisis facing the United States is problematic since it is not solely a drug issue but a geopolitical concern as well. Much of the fentanyl entering the United States comes from China. The U.S. Drug Enforcement Administration (DEA) attributes 97 percent of illicit fentanyl coming into the United States to entities operating in China.

In April, the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party published a report detailing how China is fueling the fentanyl crisis in the United States.

China “directly subsidizes the manufacturing and export of illicit fentanyl materials and other synthetic narcotics through tax rebates,” it said. Beijing even gave “monetary grants and awards to companies openly trafficking” such drugs.

“There are even examples of some of these companies enjoying site visits from provincial PRC (People’s Republic of China) government officials who complimented them for their impact on the provincial economy.”

A review of seven Chinese e-commerce sites found more than 31,000 instances of Chinese firms selling illicit chemicals. China censors content about domestic drug sales “but leaves export-focused narcotics content untouched.”

“The fentanyl crisis has helped CCP-tied Chinese organized criminal groups become the world’s premier money launderers, enriched the PRC’s chemical industry, and had a devastating impact on Americans.”

According to the U.S. Centers for Disease Control and Prevention (CDC), synthetic opioids like fentanyl are the primary driver of overdose deaths in the United States.

Most of the illicit fentanyl in the United States is manufactured in Mexico from precursors bought from China, highlighting the importance of having full control over the border.

In an interview with The Epoch Times last year, Sen. Ted Cruz (R-Texas) said that Mexican cartels “have 100 percent operational control over our southern border.”

This month, Senator Joe Manchin (D-W.Va.) wrote a letter to President Biden asking him to use his executive authority to shut down the southern border to deal with the issue of illegal immigrants and drugs.

“To fight the drug smugglers and the individuals deliberately avoiding Border Patrol detection, you should prohibit Border Patrol agents from performing non-mission humanitarian duties so they can do their jobs,” said the senator.

Tyler Durden Sat, 05/11/2024 - 13:10

Watch: Bill Maher Upends Stormy Daniels' Testimony With 2018 Footage

Zero Hedge -

Watch: Bill Maher Upends Stormy Daniels' Testimony With 2018 Footage

Comedian Bill Maher just used footage from a 2018 interview with Stormy Daniels to reveal that she completely contradicted her own testimony in the Trump 'hush-money' trial last week.

After laying out how the Democrats have fumbled the ball on virtually every case against Trump, Maher turned his attention to Daniels, who he called a "bad witness."

"Because, let me show you a little video. This is when I had Stormy on in 2018, and first I asked her why she had sex with Trump... listen to that, and then listen to what she says after that."

Maher, in 2018, asked her: "Why did you fuck Donald Trump?" saying moments later "but you say it's not a 'me-too' case," referring to the flood of rape accusations against various men in the wake of the Harvey Weinstein scandal.

To which Daniels replies: "It is not a 'me-too' case. I mean I wasn't assaulted, I wasn't attacked or raped or coerced or blackmailed. They tried to shove me in the 'me-too' box as part of their own agenda, and first of all I didn't want to be part of that because it's not the truth and I'm not a victim in that regard."

Maher then contrasts that statement with Daniels' testimony last week, saying "she's talking about he was 'bigger and blocking the way,' - it's all the me-too buzzwords.

During her testimony last week, Daniels claimed "There was an imbalance of power, for sure. He was bigger and blocking the way, but I was not threatened either verbally or physically," she said, also claiming that she 'blacked out.'

"She said there was an imbalance of power, for sure. My hands were shaking so hard. She said she blacked out. Blacked out? She's a porn star. You really think she blacked out? A porn star is used to having sex with people she does not know. That's the job. It's kinda like 'stormy, Bob, Bob, stormy, fuck!' So I just think she's not a good witness."

Watch:

As an aside, comedian and commentator @EricAbbenante of immunetothesystem.com has been on fire with great X threads of late. You may want to give him a follow.

Tyler Durden Sat, 05/11/2024 - 12:30

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