The Santa Rally Recipe: Fed Put In Full Force

By Peter Tchir of Academy Securities

The market figured out a holiday recipe that works well:

• A Healthy Dose of Fed Puts.

• A Dash of Trade Hopes.

• A Smidge more Fed Puts because you can never have enough Fed Puts.

In the past 5 trading days (including Friday November 21st):

• The Nasdaq 100 is up 5.7% (outpacing the “rotation” trade of the S&P 500 Equal Weight which is up 3% in those same trading days).

• The probability of a Fed cut at the December meeting spiked to 83% from 35% (well within the range where the Fed would be unlikely to disappoint). 10s rallied as well, though “only” from 4.07% to 4.02%.

• Bitcoin, which traded below $82,000 on the 21st, has reclaimed the $90k threshold.

• Credit spreads joined in the party as CDX went from 56 to 51. That was matched by the Bloomberg Corporate Bond OAS, which tightened from 85 to 80.

There were a couple of other “events” during the week that created some interesting movements (at least briefly). First, and possibly most interesting longer-term, was the sudden need to understand a TPU versus a GPU.

We were able to talk about this, the Fed, and risks to the economy in the first segment of last week’s Bloomberg TV interview. The second segment focuses more on geopolitical issues.

Briefly (only briefly) did the TPU vs GPU story seem to help answer the questions posed last weekend: Is the pAIn Over? Are we at the end of “Free” Money?

Any questions on spending and risks to growth were overwhelmed by the Fed Put (and some signs that the administration would let/even encourage chip sales not just to the Middle East, but also to China).

In addition, please see the link to our November ATW that we released this week. We are focused on the U.S. pressure being put on the Maduro regime.

The Fed Put is In Full Force

You may not believe in Santa, or the Santa rally, but the Fed Put might be the strongest it has been in some time.

• The recognition that the Fed Put is in full effect started last Friday, with Williams coming across more dovish than most supposed.

• It continued over the weekend as more Fed speakers seemed to shift to the dovish side of the ledger.

• Then, finally, it was reported that Kevin Hassett would get the nod to be the next Fed chair.

  • The market, correctly, interpreted this as a signal that the Treasury, the Fed, and the admin would work more closely together – helping pave the way for lower yields and easier monetary conditions.

  • There is “chatter” that Hassett will act as a “shadow” chair at the December meeting ensuring a cut.

• The most material change in the week leading up to this barrage of dovishness wasn’t in the data, but in equity prices.

  • If you could point to some serious change in the data, we could argue that the Fed Put isn’t real, and that they are just “data dependent.” But that wasn’t the case at all. What seemed to drive the rush to get easy money back on track was the performance of equities, and the risk that they were breaking through some serious support levels, causing concern of further downside. Not something that the admin or the Fed wants – especially in an illiquid holiday season.

• The Nasdaq 100 had not broken below its 50-Day Moving Average since the rally that started with the admin retracting the Liberation Day tariffs. It crossed that technical threshold, and almost immediately fell to the 100-Day Moving Average, which it also breached (almost like a hot knife through butter). For many technicians, that put the 200-Day Moving Average in play, which would have been a further 7% decline. It is impossible, at least for me, to look at this chart and think anything other than that the Fed Put is not just alive and well, but it will also flourish under this admin. The admin did go from talking about “Main Street over Wall Street” at the time of the Liberation Day tariffs, to changing track and cheering the stock surge. The admin has continued to point to stocks as a benchmark (not truly unique to this admin, but this admin seems to have a better understanding of markets, and the machinations that can help markets, than prior administrations).

There are a few things that I find surprising about the market reaction (and the Fed hitting the “panic” button):

• I did believe the market pullback had more to do with concerns about the AI spend, than it did about the Fed not cutting in December (obviously, given the market reaction, that assessment was wrong).

• We have not wavered in our assessment that we will likely see Fed Funds effective at 2.875% (100 bps lower than today) by next summer. We did not think that whether we get a December cut or not would matter much (yes, it clearly did). The market is “only” pricing in three cuts between now and September 2026 – that seems too few/too slow. More potential for the markets to get surprised to the upside by easy money and looser financial conditions.

• There is a sense of “irony” or “paradox” or “Catch 22” (or some other word) that fears about the stock market seemed to trigger the shift to the dovish side, and now we will potentially get a cut while stocks may be at all-time highs.

Is the Fed Enough?

I do believe that the risks to spending are greater than the benefits of a 25 bps rate cut, BUT:

• December, with low liquidity and strong seasonals, tends to support strength.

• A market that was already set up for a nice end of year rally is likely to reset itself to that mindset (it is an “easy” and comfortable way to finish the year).

• The government shutdown did end, so with backpay, we could see some boosts to the economy.

• While questions are mounting about domestic AI spend and valuations, the potential for selling chips to other countries has grown in scale and scope of late.

Chips for Everyone

While the questions surrounding TPUs vs GPUs were interesting, they did little for markets. Just like DeepSeek was quickly brushed off as some “one-off” type of thing, the market continues to see demand for high-end chips as “virtually” insatiable.

While some questions remain about the longer-term risk of selling chips to competitors (like China) or even some countries that we don’t fully align with (parts of the Middle East), we seem to be set to sell those high-quality chips to those countries.

This will:

• Substantially change the trade balance with many countries. This is one of the administration’s top goals (though I’m not sure how making something in Taiwan and shipping it across the Strait to China exactly works, but it does for now – and makes, at least to me, the imperative to manufacture more and better chips in this country even more obvious – thinking ProSec™).

• Allow for growth.

• Highlight the competitive advantage other countries have in electron production. The production of electricity is increasingly recognized as a potential roadblock to the planned growth of AI and Data Centers. Countries like Saudi Arabia are better prepared for this need for electricity than we are (once again, highlighting the need for ProSec™). China too has been growing its electricity production through any and all means possible, including, but not limited to, coal, solar, nuclear, and aggressive development work on fusion.

• It is clear that the Middle East will want to buy and use the U.S. chips (designed in the U.S. even if not fully produced in the U.S.). It is less clear that China will go down that path aggressively or not. This could be a test to see if China is truly committed to developing their own industry, even at the risk of working with inferior equipment in the near-term, or whether the need is so great, that they will delay the progress of their own chip industry. The latter would be nice and a big win in the trade wars – but I’m not sure how likely it is, or whether or not we will regret the decision down the road.

Bottom Line

We can all sleep more comfortably and enjoy the holidays a little more with the Fed Put on full display. Who needs to see the tree at Rockefeller Center when the Fed Put is obvious every time we glance at our screens.

I think there are issues regarding valuations, spending, and the state of the consumer/economy, but with earnings season behind us, little “new” or useful data, strong seasonality, and a Fed that seems determined to cut, we should be in for a “normal” December – rather than what we seemed to be facing as markets started to trade on November 21st!

What a difference a week can make!

Things could change – the fears expressed recently are real, but it seems we will be given the opportunity to get our portfolio ready for the new year to capture the opportunities that are unfolding as we speak (especially making things domestically that we need for “security”).

Tyler Durden Sun, 11/30/2025 - 14:00

NYT Torches Tim Walz After Somalians Scam Woke Minnesota For $1 Billion 'On His Watch'

The NY Times has thrown Minnesota governor Tim Walz under the bus over a massive and sprawling fraud scandal that federal prosecutors say siphoned over $1 billion from the state's social safety net programs - more than the entire state spends annually to run its Department of Corrections.

Minnesota Gov. Tim Walz, Rep. Ilhan Omar (D-MN)

The fraud involved a series of schemes that federal authorities say took root over the past five years, many centered within Minnesota’s Somali diaspora, where individuals established companies that billed state agencies for services that were never performed. Prosecutors say 59 people have been convicted across various cases so far, in three separate plots.

Minnesota’s fraud scandal stood out even in the context of rampant theft during the pandemic, when Americans stole tens of billions through unemployment benefits, business loans and other forms of aid, according to federal auditors. - NYT

Federal prosecutors have emphasized the seriousness of the cases being prosecuted by career federal attorney Joseph H. Thompson - who warned that the scale of fraud threatens public confidence. “No one will support these programs if they continue to be riddled with fraud,” Mr. Thompson said. “We’re losing our way of life in Minnesota in a very real way.”

Feeding Programs and Expanding Fraud

The first public indication of a systemic problem emerged in 2022, when attorneys began prosecuting fraud related to pandemic-era child nutrition programs. 

Prosecutors charged that Feeding Our Future, a Minneapolis nonprofit, partnered with dozens of local businesses to claim reimbursements for tens of thousands of nonexistent meals. The funds were allegedly used for luxury spending, including homes, vehicles, and international real-estate investments.

Investigators later determined that the problem extended beyond the food-assistance program. Two additional fraud schemes came to light last year, including inflated reimbursement claims for services to people at risk of homelessness and fraudulent autism-therapy certifications involving children recruited from Somali communities in Minneapolis.

One provider in the autism program, Asha Farhan Hassan, is accused of facilitating $14 million in fraud. Her attorney, Ryan Pacyga, said she entered the field with good intentions but eventually engaged in falsifying invoices and intends to plead guilty. Pacyga added that some defendants believed state agencies were enabling the fraud. “No one was doing anything about the red flags,” he said. “It was like someone was stealing money from the cookie jar and they kept refilling it.”

Political and Cultural Fault Lines

The cases have fueled debate about whether state officials hesitated to intervene due to concerns over accusations of racism or political backlash. A report by Minnesota’s Office of the Legislative Auditor found that threats of discrimination lawsuits influenced regulatory decisions, including early warnings issued by Feeding Our Future that challenging claims from minority-owned businesses would trigger litigation and public accusations.

Kayseh Magan, a former fraud investigator at the Minnesota attorney general’s office, said that pushback contributed to reluctance among Democratic officials. “There is a perception that forcefully tackling this issue might cause political backlash among the Somali community, which is a core voting bloc,” Mr. Magan said.

Amid the prosecutions, allegations even spilled into courtroom misconduct: defendants attempted to bribe a juror with $120,000 and a note asking, “Why, why, why is it always people of color and immigrants prosecuted for the fault of other people?”

Mr. Thompson argued that heightened racial sensitivities following the death of George Floyd in 2020 affected oversight and enforcement. “This was a huge part of the problem,” he said. “Allegations of racism can be a reputation or career killer.”

Walz’s Response

Walz (D), now in his second term and seeking a third, acknowledged that pandemic policies prioritized speed and accessibility of assistance. “The programs are set up to move the money to people,” Mr. Walz said. “The programs are set up to improve people’s lives, and in many cases, the criminals find the loopholes.”

And of course since Walz is seeking a third term next year and fraud has become a central theme in the upcoming governor’s race, he's introduced stricter measures, including:

• a task force to pursue fraud cases

• enhanced inter-agency data-sharing

• new technology — including AI — to detect suspicious billing

Community Impact and Racial Tensions

The fallout has reverberated sharply within Minnesota’s Somali community of roughly 80,000 residents. Many say the scandals have cast suspicion on innocent families and entrepreneurs. Rep. Ilhan Omar, whose district includes Minneapolis, urged Minnesotans not to generalize wrongdoing. “We do not blame the lawlessness of an individual on a whole community,” she said.

Except - as Somali-American professor Ahmed Samatar of Macalester College argues, the scandal demands honest reflection. 

Dr. Samatar said that Somali refugees who came to the United States after their country’s civil war were raised in a culture in which stealing from the country’s dysfunctional and corrupt government was widespread.

Minnesota, he said, proved susceptible to rampant fraud because it is “so tolerant, so open and so geared toward keeping an eye on the weak.” -NYT

Some Somali social-service providers have criticized the increased scrutiny, with the Minnesota Somali Community Center asserting that heightened enforcement has left legitimate organizations feeling “criminalized and intentionally targeted.”

 

Tyler Durden Sun, 11/30/2025 - 13:25

Watch: Chevy Proves Woke Is Dead With New Ad

Authored by Steve Watson via Modernity.news,

Chevrolet’s new Christmas commercial “Memory Lane” has taken the internet by storm, racking up millions of views and an avalanche of praise for its simple, heartfelt storytelling that celebrates a traditional American family.

There are no lectures, no forced diversity, just a mom and dad driving their 1987 Suburban to a snowy cabin reunion with their grown kids and grandkids.

The three-minute spot shows the empty-nester couple retracing decades of family memories as “Merry Christmas Baby” plays, ending with the whole clan gathered around the tree in a tear-jerking return to the kind of ads that once defined the season before woke corporate activism poisoned the well.

In the ad, the mom’s hand rests on the dash as flashbacks roll of babies in car seats, teenagers bickering, college drop-offs, and now grandchildren piling in.

“This old Suburban’s been with us through it all… from the first kick of a baby’s foot against the seat to the last kick of a teenager out the door,” she reflects.

The final scene – the tailgate down, pie passed around, family silhouetted against the lit cabin – struck a chord with viewers, with one X respondent even stating “Forgot it was a car commercial sitting over here weeping lmao.”

Chevy has quite deliberately pivoted to authentic, emotional storytelling following years of corporate virtue-signaling disasters from other companies. GM’s VP of marketing has said that the spot was built from real customer stories to “honor the moms who hold it all together.”

The ad’s runaway success stands in brutal contrast to the graveyard of brands that went full woke and paid the price.

Jaguar’s disastrous ‘non-binary’ rebrand, complete with alphabet people and zero cars, tanked sales so hard the CEO abruptly “retired” weeks later.

Bud Light’s Dylan Mulvaney partnership still bleeds two years on, with sales down 30% on previous highs.

Even Google caught heat last Christmas for a holiday ad starring a nonbinary influencer that felt more like a lecture than celebration.

Nike and American Eagle also confirmed the Overton window shift with recent ads.

Chevy’s “Memory Lane” zero politics, 100% heart ad is the clearest proof yet that the pendulum has swung. As one viral reply put it: “This is what happens when you make ads for normal people instead of HR departments.”

With Christmas shopping season in full swing, Chevy dealers report Suburban inquiries spiking and the ad already closing in on 20 million views across platforms. In an era where corporate America spent half a decade alienating its core customers, Chevrolet just reminded everyone how powerful it is to simply make something beautiful again.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Sun, 11/30/2025 - 12:50

Kazakhstan Angrily Calls On Ukraine To Stop Black Sea Oil Terminal Attacks

Kazakhstan is angrily denouncing and protesting the "deliberate attack" on critical energy transport infrastructure of the international Caspian Pipeline Consortium in the waters of Russia's port city of Novorossiysk, after on Saturday a naval drone sent by Ukraine severely damaged one of its three loading points.

Kazakhstan's Foreign Ministry said on Sunday, "We emphasize that the Caspian Pipeline Consortium plays an important role in supporting the stability of the global energy system."

It added: "We view what has occurred as an action harming the bilateral relations between the Republic of Kazakhstan and Ukraine, and we expect the Ukrainian side to take effective measures to prevent similar incidents in the future."

Via Reuters

This marks a rare moment that the former Soviet satellite state in central Asia is directly calling out the Ukrainian government and military.

A key section of Caspian Pipeline Consortium near Novorossiysk has as a result of the attack been taken offline until repair and restoration works are completed.

The consortium's over 930-mile pipeline connects oil fields in western Kazakhstan and Russian offshore fields in the Caspian Sea to a marine terminal in Novorossiysk, which means the location serves as the main export route for Kazakh oil, and is one of the world’s largest oil conduits by volume.

Regional sources note that the pipeline transports about 80% of Kazakhstan’s oil exports. According to the consortium's confirmation of the weekend attack:

CPC said on Saturday that a November 29 naval drone attack on its terminal had “significantly damaged” Single-Point Mooring (SPM) 2 – essentially a floating buoy which connects to tankers to load oil.

“Further operation of Single Point Mooring 2 is not possible,” CPC said. “Loading operations and other operations were stopped [and] tankers were withdrawn from the CPC water area.”

“We believe that the attack on the CPC is an attack on the interests of the CPC member countries,” CPC said.

Kazakhstan Has No Choice. It Changes Oil Export Route After Attack on Novorossiysk

Following a nighttime attack by Ukrainian naval drones on the Caspian Pipeline Consortium's marine terminal in Novorossiysk, Kazakhstan has announced that it is forced to seek alternative routes… pic.twitter.com/SerTXJtYK4

— Belsat in English (@Belsat_Eng) November 29, 2025

Moscow for its part decried the Ukrainian attacks as amounting to terrorism and further alleged that European powers are currently engaged in an intense hybrid war against Russia.

However, Ukraine can in turn point to constant and devastating Russian aerial attacks against its energy grid, ahead of what is likely to be a harsh winter - at a moment much of the country is under a rolling power blackout regimen.

Over in Europe, Hungary has also long complained of these Ukrainian attacks on pipelines and energy infrastructure. This summer crude oil flows from Russia to Hungary and Slovakia via the Druzhba pipeline suffered forced disruptions after Ukrainian drone strike crippled transformer stations and other elements.

Tyler Durden Sun, 11/30/2025 - 12:25

Watch: TikToker Hands Out Vodka, Machetes To Mentally Ill And Homeless

TikTok influencers push boundaries to stay visible and relevant in feeds. Some of the stunts have become so outrageous that these clout-chasing fools will do anything for views - even if it means jeopardizing public safety.

The latest absurdity comes from TikToker PovWolfy, who in recent weeks has been handing out machetes and vodka bottles to the homeless population.

The metros where PovWolfy handed out machetes and vodka to the homeless and mentally unstable were not mentioned, but X user Unlimited L’s claimed the 18-inch blades and alcohol were distributed to people experiencing homelessness in Austin, Texas, and New Orleans, adding that the creator is now headed to New York.

NEW: “Influencer” hands out 18-inch machetes and alcohol to homeless people in Austin and New Orleans

Keith Castillo — known online as “povwolfy” — posted the video on Thanksgiving

The caption read, “Keeping the homeless in the streets.”

He is now heading to New York pic.twitter.com/DsetrscSEE

— Unlimited L's (@unlimited_ls) November 30, 2025

PovWolfy made countless videos ...

Handing out vodka and weapons to vulnerable people is nothing more than reckless behavior. There is a possibility that this influencer could face charges such as reckless endangerment, contributing to a dangerous situation (akin to the movie Purge), or even aiding and abetting if harm occurs.

*  *  * BLACK FRIDAY IS STILL HAPPENING

Tyler Durden Sun, 11/30/2025 - 11:05

Rubio, Witkoff Meet With Ukraine Negotiators In Miami To Discuss Plans To End War

Three key Trump administration officials are meeting with Ukrainian negotiators in Miami, Florida this weekend in a push to broker an end to the war Russia began with its 2022 invasion, while setting the stage for talks between Washington and Moscow planned later this week.

Secretary of State Marco Rubio, Special Envoy Steve Witkoff, and U.S. President Donald Trump’s son-in-law Jared Kushner plan to meet with the Ukrainian delegation to discuss portions of a proposed peace deal.

During talks in Geneva last Sunday, the sides reached agreements in principle on all but two issues: territory and security guarantees.

A senior U.S. official said the White House wants to close the gaps on those last two issues on Sunday, saying: "The Ukrainians know what we expect from them."

Meanwhile, the Ukrainian delegation lost its lead negotiator between Kyiv and Washington, according to an announcement by Ukrainian President Volodymyr Zelenskyy on Friday.

Zelenskyy said his chief of staff Andrii Yermak has resigned following a home search by anti-corruption investigators.

Government investigators had uncovered that $100 million was embezzled from Ukraine’s energy sector via kickbacks that contractors had paid.

While neither Zelenskyy nor Yermak has been accused of wrongdoing by those leading the investigation, the Ukrainian president’s political opponents have pushed for more accountability of senior leaders in Kyiv’s government.

As Jacob Burg reports for The Epoch Times, the meeting in Florida is occurring just a week after Rubio met with Yermak in Geneva, with both sides expressing positivity over a revised peace plan from Washington.

Prior to his resignation, Yermak told Axios that territorial concessions could only be negotiated at the presidential level.

But Trump said last week that he would only meet Zelensky and Putin once the parties were close to an agreement to end the war.

"The dialogue based on the Geneva points will continue. Diplomacy remains active. The American side is demonstrating a constructive approach, and in the coming days it is feasible to flesh out the steps to determine how to bring the war to a dignified end. The Ukrainian delegation has the necessary directives, and I expect the guys to work in accordance with clear Ukrainian priorities," Zelensky said on Saturday.

Following Yermak's resignation on Friday, responsibility for negotiations was passed to Rustem Umerov, the secretary of the country’s National Security and Defense Council.

He has been implicated in the corruption probe but is not a suspect, according to authorities.

He was joined by first deputy foreign minister Sergiy Kyslytsya, an experienced diplomat and negotiator who sat at the table with the Russians in peace talks this spring that made no progress.

Umerov said on Sunday morning that talks had begun to find a “dignified peace”.

The meeting between the Ukrainian delegation and the American side on steps toward achieving a just peace has already begun in the United States.

I remain in constant contact with the President of Ukraine. We have clear directives and priorities: safeguarding Ukrainian… pic.twitter.com/herwCpylWd

— Rustem Umerov (@rustem_umerov) November 30, 2025

As The FT reports, Russian forces this week continued their large-scale missile and drone attacks on Ukraine’s capital and critical infrastructure as troops on the ground in the eastern Donetsk region pressed ahead with assaults on key strongholds.

Ukraine, meanwhile, continued its drone attacks on Russian oil and gas facilities and vessels belonging to its shadow fleet in the Black Sea, including the Russian oil terminal near the southern port of Novorossiysk that is owned by the Caspian Pipeline Consortium.

That attack on Saturday prompted a stern response on Sunday from Kazakhstan, which called on Kyiv to halt strikes on the facility that handles about 1 per cent of global oil supplies, including from Kazakhstan, where the pipeline begins.

The biggest question hanging over the US-Ukraine talks is how any proposal agreed between them might be agreed by the Russians, who have maintained a maximalist position and have expressed confidence that they currently hold the battlefield initiative in the war. Putin has shown openness to a deal only if it is done on his timeline and terms.

Earlier this week, Russia blamed the Europeans and Kyiv for spoiling the initial proposal, or what the Kremlin’s spokesman Dmitry Peskov described as the “only substantive thing” on the table. Foreign minister Sergei Lavrov warned that if the revised plan “erased . . . key understandings” reached earlier between Putin and Trump, the situation would be “fundamentally different”.

Nevertheless, Zelenskyy appeared optimistic, telling Ukrainians in his evening address on Saturday that the American side was “demonstrating a constructive approach” to the talks that were set to continue on Sunday.

He added: “In the coming days it is feasible to flesh out the steps to determine how to bring the war to a dignified end.”
 

Tyler Durden Sun, 11/30/2025 - 10:30

Race To The Bottom: White House Launches 'Media Offenders' Leaderboard

Authored by Steve Watson via Modernity.news,

The Trump White House unveiled a scathing new website Friday, “Media Offenders,” complete with a “race to the bottom” leaderboard ranking outlets like The Washington Post as the worst for “false and misleading stories”—flagging everything from exaggerated Trump “sedition” claims to immigrant horror tales as “heinous” manipulations.

The interactive page features an “Offender Hall of Shame” logging repeat offenders and a weekly spotlight, like the current “Media Misrepresents and Exaggerates President Trump’s Calls for Democrat Accountability,” where Democrats and “Fake News” implied Trump issued “illegal orders” to the military—contrasted with “THE TRUTH”: “Every order President Trump has issued has been lawful.”

The site pits outlets like The Washington Post (worst for bias), MSNBC, CNN, CBS News, The New York Times, and Politico in a humiliating tally of “false and misleading stories flagged by The White House.”

See it for yourself ?https://t.co/bRfpnhKjbT

— Eric Daugherty (@EricLDaugh) November 28, 2025

Users can sign up for “Offender Alerts” delivered weekly, promising “Scroll for the Truth” on each entry.

The “Offender Hall of Shame” catalogs hits like “L.A. mother says she was taken to U.S. border, being held until she self-deports” and “Trump’s new wall: His push to oust immigrants legally in the U.S.,” debunking them with White House counters.

The spotlight today falls on “Media Misrepresents and Exaggerates President Trump’s Calls for Democrat Accountability,” where outlets like the Boston Globe and The Independent twisted Trump’s push for accountability on Democrats’ military mutiny calls into “execution” threats.

From the site:

“THE OFFENSE”: “The media misrepresented President Trump’s call for Members of Congress to be held accountable for inciting sedition by saying that he called for their ‘execution.'”

“THE TRUTH”: “Democrats released a video calling for service members to disobey their chain of command, and in turn, implied President Trump had issued illegal orders. Every order President Trump has issued has been lawful. It is dangerous for sitting Members of Congress to incite insubordination in the United States’ military, and President Trump called for them to be held accountable.”

This counteroffensive directly exposes MSM’s scripted “talking point” directives amid the info war, where CNN, MSNBC, and NYT puppets cordinate “balanced” spins on Trump’s policies. The leaderboard’s “false and misleading stories” section catalogs such distortions, from immigrant “horror” tales to “Trump wall” exaggerations, proving the “enemies of the people” script is real.

The White House takedown also resonates with FCC Chair Brendan Carr’s November probe into BBC corruption for “rigging the news,” where he slammed “heinous” manipulation as a “threat to democracy” that erodes trust.

As Carr vowed to “expose and prosecute” such tactics, the leaderboard’s “repeat offenders” section—flagging outlets that “don’t just get it wrong – they do it over and over again”—mirrors his call for structural reforms, tying scripted bias to broader info war threats.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden Sun, 11/30/2025 - 09:20

VW Aims To Cut Development Costs In Half With New "Made In China" Car

Volkswagen says it can build an electric car entirely in China at roughly half the cost of producing one in Germany, helped by quicker development, lower labor expenses, easier battery sourcing and a more efficient supply chain, according to FT.

After heavy investment in its new R&D base in Hefei, which includes more than 100 labs for software, hardware and powertrain testing, the company says it can now validate software, hardware and full vehicles at the same time.

According to VW’s China technology chief Thomas Ulbrich, the facility gives engineering teams “an entirely new level of integration,” allowing them to shorten decision cycles and speed up innovation. VW says the development timeline for new Chinese EVs is about 30 per cent shorter than the traditional 50-month process.

FT writes that the carmaker intends to introduce around 30 EV models in China over the next five years as it tries to regain momentum in the world’s largest auto market, where competition from domestic EV makers has eroded its earlier dominance.

Although the strategy began as “in China, for China,” executives say the company is now considering exporting Chinese-built models and applying Chinese-led advances to its global operations.

Other European manufacturers, such as Renault, are also trying to match China’s rapid development pace by simplifying components and relying more on local engineering talent.

Still, VW stands out for the scale of its investment, committing almost €4bn in China since 2022 through efforts including its partnership with Xpeng and its funding of Horizon Robotics, with which it is developing an AI chip for autonomous-driving features.

These moves come as VW continues to cut costs in Germany, where high production expenses and weak European demand have led to a plan to reduce its domestic workforce by 35,000 by 2030.

Tyler Durden Sun, 11/30/2025 - 08:45