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

• Trump and prediction markets are building a society of suckers: The gamification of everything — politics, policy, sports — is producing a population that confuses betting with understanding. Prediction markets aren’t wisdom; they’re spectacle with a price tag.  The convicted felon in the White House loves shadowy financial schemes that benefit insiders (Stop The Presses)

• For Taylor Swift, Madison Square Garden’s Controversial Cameras Briefly Went Dark: MSG’s facial recognition system was quietly turned off for Swift’s concerts. The question of who gets surveillance and who gets privacy is now a celebrity perk. (Wired) see also Madison Square Garden Kept a List of Gay Celebrities: Wired’s investigation into MSG’s surveillance archives — including a list categorizing celebrities by sexual orientation. (Wired) see also The Shocking Secrets of Madison Square Garden’s Surveillance Machine: The full investigation — Jim Dolan built one of the most sophisticated private surveillance systems in the country. (Wired)

• A Brief History of the Internet’s Favorite Scam: MIT Press traces the evolution of the Nigerian prince email through three decades of internet fraud — from crude spam to AI-powered social engineering. The scam evolved; the psychology it exploits didn’t. Fraudsters have long told stories of imprisoned nobles and hidden fortunes, with desperate pleas for help. Email simply gave their messages a perfect medium. (The MIT Press Reader)

• What just happened to TheNumbers.com should worry us all: A major film industry data site was quietly acquired and gutted. What happens when public knowledge infrastructure gets bought and switched off.  The inside story of how one of film data’s most trusted sites vanished overnight, and why every website you rely on is more fragile than you think. (Stephen Follows)

• The false claims, chaos and coverups behind the Trump administration’s killing of two American citizens: “Someone’s going to get killed.” The warning, from an agent of the federal Homeland Security Investigations division, sent a chill through the other officials in the room. It was early January 2026.  The HSI agent explained how the team was afraid about what was coming, about what seemed preordained as the Trump administration sent Immigration and Customs Enforcement agents, Customs and Border Protection officers, Border Patrol agents and controversial Border Patrol commander-at-large Gregory Bovino into Minneapolis for what the administration called Operation Metro Surge. (CNN) see also ICE is lying about body cams. These documents prove it. “As soon as they had funding they bought them” (Popular Information)

• U.S. measles cases hit 35-year record with months left in 2026: Data from Johns Hopkins University’s U.S. measles tracker shows the nation reported 2,295 cases as of Tuesday. That count surpasses last year’s total of 2,289. (Washington Post) see also Hospitals See Diseases Resurge as Vaccinations Decline: Measles, whooping cough, and other diseases we’d essentially conquered are coming back because vaccination rates have cratered. This is what happens when you let misinformation win. (NYT)

• At the Tour de France, One Family Wins Every Year: The Amaurys of Paris own the race, but won’t share any of the $170 million in media revenue. Sponsors and riders say their resistance is dooming the sport. (New York Times)

• Senior Living Facility in Distress as Immigrant Caregivers Are Forced Out: Retirement communities already grappling with labor shortages are being forced to terminate caregivers at a time when more Americans are living longer.  Senior Living Facility in Distress as Immigrant Caregivers Are Forced Out Retirement communities already grappling with labor shortages are being forced to terminate caregivers at a time when more Americans are living longer.. ](New York Times)

• Mary L Trump: The Trump Family War Grift: They are not even hiding it anymore. (Mary L Trump)

• Suspicion and Doubt at the National Civics Contest: America’s finest young scholars competed tomark their country’s birthday. It led to a disputed finish in the age of mistrust.  (Notus)

Video of the day: David Dunning Presentation and Conversation – 2025 Induction Weekend American Academy of Arts & Sciences

Be sure to check out our latest Masters in Business interview with Lori Heinel, Global Chief Investment Officer of State Street Investment Management, the money management arm of investing giant State Street. She oversees over $5.7 trillion in assets (as of year-end 2025), which includes everything from index funds and ETFs to active strategies, multi-asset solutions, and alternatives. She was named to Forbes’ 2025 “50 Over 50” list.

 

How much of Reddit is AI-written? 20,000 long-form posts scored with an AI detector

Source: Reddit

 

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19 Million Eggs Pulled As Salmonella Outbreak Sickens 98 Across 17 States

The FDA and CDC have tied a growing Salmonella outbreak to eggs produced by Texas-based Midwest Poultry Services, which recalled roughly 1.5 million cartons - more than 19 million eggs - after the contamination surfaced. As of July 24, 98 people across 17 states had been sickened, according to the FDA, which said the recalled eggs are "a likely source of illnesses in this outbreak" and that its investigation is ongoing.

The recall itself went out through an FDA notice on July 22, before the illness count was attached. The eggs may be contaminated with Salmonella Enteritidis, a subtype that can cause serious and occasionally fatal infections in young children, the elderly, and the immunocompromised.

"Midwest Poultry Services identified the issue on its two Texas farms through proactive environmental monitoring practices and root cause analysis," the company said, adding that it "is not distributing fresh eggs produced on its Texas farms at this time." The company said it began diverting eggs to a breaking plant, where they would be pasteurized to kill any pathogens, and characterized the recall as precautionary. It did not respond to a request for more detail on how it detected the possible contamination.

There is a wrinkle worth noting. The recalled eggs were produced between June 6 and July 3, but the outbreak's illness onsets stretch from Nov. 21, 2025 all the way to June 30, 2026 - a seven-month span far wider than the production window. That is why the FDA is describing the eggs as a likely source "in part" and says it is still investigating whether other foods are involved.

How To Check Your Carton

The eggs carried "sell by" or "best by" dates ranging from July 20 to Aug. 17. The recalled cartons carry an identifying code of P-1950 or 0840962 with a Julian date between 157 and 184, printed in date-coding ink on the side of the carton. No other Midwest Poultry Services products are affected.

The eggs were available at Kroger stores in Louisiana and Texas and Brookshire Grocery stores in Arkansas, Louisiana, Mississippi, New Mexico, Oklahoma, and Texas, as well as smaller retailers not named in the notice. They were also shipped to foodservice customers in Texas, Oklahoma, and Louisiana. Kroger and Brookshire Grocery did not respond to requests for comment.

People who bought the eggs can return them for a full refund. Salmonella infection typically sets in 12 to 72 hours after exposure, with symptoms - diarrhea, fever, nausea, vomiting, abdominal cramps - usually lasting four to seven days.

Full list of recalled eggs:

• Kroger Large 12 eggs
• Kroger Large 18 eggs
• Kroger Large 60 eggs
• Kroger Extra Large 12 eggs
• Kroger Medium 12 eggs
• Kroger Medium 30 eggs
• Kroger Jumbo 12 eggs
• Simple Truth Cage Free Medium Brown 12 eggs
• Simple Truth Cage Free Large Brown 12 eggs
• Simple Truth Cage Free Large Brown 18 eggs
• Simple Truth Cage Free Large Brown 24 eggs
• Brookshire's Large 6 eggs
• Brookshire's Large 12 Eggs
• Brookshire's Large 18 Eggs
• Brookshire's Large 36 Eggs
• Brookshire's Large 60 Eggs
• Brookshires Extra Large 18 Eggs
• Brookshire's Jumbo 12 Eggs
• Country Morning Large 12 Eggs
• Country Morning Large 18 Eggs
• Country Morning Large 2 ½ Dozen
• Country Morning Extra Large 12 Eggs
• Country Morning Medium 12 Eggs
• Country Morning Jumbo 12 Eggs
• Sunups Medium 2 1/2 Dozen
• Grade AA Large Bulk X 30 DOZEN
• Grade A Large Bulk X 15 DOZEN
• Grade A Large Bulk - TICTAC
• Grade A Large Bulk - BROWN - TICTAC
• Grade A Medium Bulk X 30 DOZEN
• Grade A Medium Bulk X 15 DOZEN
• Grade A Extra Large Bulk X 15 DOZEN
• Grade A Jumbo Bulk 20 eggs

h/t Epoch Times 

Tyler Durden Sat, 07/25/2026 - 21:35

Young Middle-Income Buyers Frustrated As US Home Costs Rise Faster Than Incomes

Authored by Mary Prenon via The Epoch Times,

Stealers Wheel's 1973 hit "Stuck in the Middle with You" could well become the theme song for today's middle-income, first-time home buyers who don't qualify for affordable housing programs yet cannot afford market-rate homes.

The current housing shortage suggests pent-up demand is building among young homebuyers. Andrey_Popov/Shutterstock

The household income required to purchase a starter home, currently priced under $350,000 in the United States, has surged more than 80 percent to $78,000 from $43,000 in 2019, according to a July 20 report from Realtor.com.

By contrast, the median household income was $83,730 in 2024, representing an increase of under 22 percent from $68,703 in 2019, according to the latest Census Bureau estimates.

This gap in growth between home prices and household incomes has made it increasingly difficult for even middle-income households to own a home, real estate professionals, economists, and recent research say.

Caught In The Middle

Vlora Sejdi, an associate broker with HomeSmart in White Plains, New York, recently told The Epoch Times about the challenges her young clients face in buying a home.

She is currently working with a childless couple under 40 who are living with parents while saving for a down payment on a home in Westchester County, an affluent suburb north of New York City, which had a median home price of $867,398 in May, according to Redfin.

"Home prices here just keep going up and up," she said. "It's a seller's market and people who can afford to buy are willing to go above and beyond. We're still seeing bidding wars."

"They're very unhappy with the current situation, and I think there's also a shock factor for what their monthly payments will be with mortgage, taxes, and insurance," she said.

Sejdi said another of her clients, a woman in her 20s, also from Westchester County, is currently renting while searching for a co-op, a type of housing in which residents purchase shares in a cooperative corporation that owns the building, rather than own individual units, according to Apartments.com.

Co-ops tend to be much less expensive than condos or single-family homes. According to OneKey MLS, in Westchester County, the median sales price for co-ops was $223,750 in May, compared with $576,500 and $1,200,000 for condos and single-family homes, respectively.

However, these properties are controlled by a co-op board of directors that can set stringent financial requirements for anyone seeking to purchase an apartment.

"My client actually had one accepted offer, but the board would not approve her, despite the fact that she now pays significantly more in monthly rent than she would for monthly maintenance at the co-op," Sejdi said.

Sejdi will continue to search for other possibilities but admits the journey has been challenging for both of them.

"There's definitely a lack of attainable housing for the middle class in Westchester," she said. "These are people who make too much money to qualify for affordable housing, but don't have enough to afford market-rate homes."

Sejdi's clients requested anonymity.

The Pew Research Center classifies households earning between 67 percent and 200 percent of the overall median household income, adjusted for household size, as "middle-income" households.

Based on the Census Bureau median of $83,730, this means those households had annual incomes of between $56,100 and $167,460.

In Westchester County, the median household income was $118,596 in 2024.

According to Westchester County government documents, the county's affordable housing programs include developments for households earning up to 120 percent of the area median income (AMI), though the income limits vary by development.

The current 120 percent AMI income limits for one-person and two-person households in the county are $162,800 and $142,450, respectively.

The situation is not limited to high-priced markets like New York. Middle-income, first-time buyers in more affordable areas, such as Texas, also face affordability challenges.

"North Texas is still considerably more attainable than markets like New York or California, but affordability has become one of the biggest challenges facing first-time buyers here as well," Johnny Mowad, associate broker with Ebby Halliday Realtors in Dallas, told The Epoch Times.

At the end of May, Redfin reported that the median sales price was $498,702 in Dallas and $337,798 in Fort Worth.

As in many other parts of the country, Mowad noted that wages have not kept pace with housing costs, and the demand in Northern Texas remains high as more people relocate to the area.

"That puts more pressure on inventory," he added.

Housing Mismatch

A joint May report by NAR and Realtor.com indicates that the much-needed housing recovery is not reaching the people who are most likely to restart the market.

"Buyers earning about $75,000 can afford only 23 percent of active listings nationwide," the report states. In a balanced market, they would be able to access about 44 percent.

The report notes that the gap represents about 311,000 missing listings priced below their maximum purchase point, which is estimated at $261,000.

"Too much of the inventory available today remains concentrated at higher price points, leaving a shortage of options for entry-level and middle-income buyers," Nadia Evangelou, NAR principal economist, said in the report.

According to a June 24 Pew Research Center survey, 89 percent of America's adults younger than 40 said it's harder for them to own a home than for their parents' generation.

The report attributes the perception primarily to rising housing costs and a challenging job market, which have made homeownership feel out of reach for many young adults.

The Harvard Joint Center's June 17 State of the Nation's Housing report states that, with a nationwide median price of about $417,400 for new single-family homes in 2025, most new housing was unaffordable for median-income households based on the standard affordability threshold of 30 percent of income.

Existing homes were less attainable. With the median price rising 54 percent since 2020 to $419,300, according to the National Association of Realtors (NAR), a typical single-family home sold at five times the median household income in 2025, the Harvard report notes. By contrast, the report said the average price-to-income ratio was 3.2 in the 1990s.

The median existing home price rose further to $440,600 in June, reaching an all-time high, the NAR said on July 9.

Using first-quarter data, a May 12 analysis by HSH Associates, a private mortgage and housing finance information company, found that U.S. households needed an annual income of $103,419 to afford a median-priced home. The calculation assumed buyers obtained a 30-year fixed-rate mortgage with a 20 percent down payment, while taking into account principal, interest, property tax, and insurance payments.

Of the 50 largest metropolitan areas analyzed, only 12 had required incomes below the national average for buying a median-priced home, the report shows. For high-priced markets such as San Jose, California, and New York City, the required incomes were $477,409 and $197,521, respectively. The median home prices of these cities were $2,030,000 and $750,000, respectively. In Dallas, households needed $105,798 to afford a median-priced home, according to the HSH Associates report.

Millions Of Adults Living At Home

With housing costs and a challenging job market, the Harvard report says, "Many young adults cannot afford to form new households, instead doubling up or living with family."

The report shows that household growth, a primary driver of housing demand, slowed for the third straight year to 1.1 million in 2025, down from an average annual growth of 2.0 million in 2020 and 2021.

A mid-June report from Realtor.com indicates that one in three adults under the age of 35 - about 25.2 million people - lived with their parents in 2025, as they were priced out of the housing market.

"The adults living with their parents today are largely employed, and many hold college degrees. What's holding them back isn't a lack of qualifications, but rather, at least in part, a lack of housing they can actually afford," Realtor.com senior economist Hannah Jones said in the report.

The data show that about nine in 10 adults aged 25 to 34 living with parents have never been married and about one in three aged 25 to 29 hold a four-year college degree. Men comprise the majority of this group at every age level.

Meanwhile, according to a June 25 report from the Census Bureau, the nation's fertility rates have dropped almost every year since 2007, although they have risen in certain counties throughout the country.

The Year Of 'Starter Homes'

Robert Dietz, chief economist at the National Association of Home Builders (NAHB), recently told Siyamak Khorrami, the host of EpochTV's "Market Insider," that a decade and a half of underbuilding, especially of entry-level housing, is a key factor contributing to the housing affordability issue Americans are facing.

While Realtor.com estimated in March that the United States was short by about 4.03 million homes in 2025, NAHB put the number at about 1 million using different methodology.

Dietz said the current housing shortage suggests pent-up demand is building among young homebuyers - there are just not enough homes on the market that fit their budgets.

"One really interesting data point that we track is the number of young adults who live with their parents. Right now, one out of five of those 25- to 34-year-olds live with their parents. Back 20 years ago it was one out of 10, so that share has doubled," he said, citing a May NAHB analysis.

A northern California-based developer, Chris Duffy, founder and CEO of Hummingbird Development, agrees that the nation needs more entry-level housing, but providing that is very difficult due to rising construction costs.

"The cost of construction has gone up so much over the past 20 years," he told The Epoch Times. "With land, materials, labor, permits, architect costs, and other regulatory fees, the economics of building less expensive homes just doesn't work. Most new developments have to go with luxury housing to make a profit."

Duffy noted that depending on where they decide to build, it can take years to jump through all of the local government regulations.

In the organization's July 9 report, NAR chief economist Lawrence Yun warned that home prices could accelerate if housing inventory continues to stagnate.

The solution, noted Dietz, is to build more housing of all types, including single-family and multifamily for both sale and rent. He noted that construction of more multifamily options can help builders adapt to the challenges of creating more affordable homes.

"For example, we've seen a big rise in townhouse construction," he said. "These are homes that are connected; they require less land."

In its June 30 Housing Market Indicators report, the American Enterprise Institute called 2026 "the Year of 'Starter Homes' and 'Small Lot, Small Lot, Small Lot.'"

The institute said 188 housing bills had been introduced so far this year, including 26 pending, enacted, or passed bills in 15 states that align with the AEI Housing Center Playbook. The Playbook outlines policy recommendations to increase the supply of naturally affordable housing.

AEI projects that enacted, passed, and pending bills aligned with the Playbook's three policy options - smaller lots for new homes, greater flexibility on existing residential lots, and more housing near jobs and amenities - could add about 281,000 homes annually.

Because land prices are more affordable in the Sun Belt and Midwest, Dietz said new home construction has experienced growth in those areas. Demand for lower-entry-home price points continues to be strong throughout the nation, he said.

Mowad said while home purchasing remains challenging for younger buyers, starter homes do come up in the market, though they may not represent someone's dream home. He noted that younger, middle-income buyers who are determined to make a purchase may start with a condo or townhome.

"While affordability has certainly tightened over the last several years, I'd much rather be a first-time buyer in Dallas than in many coastal markets," he said. "In many parts of the Northeast, buyers are competing against housing costs that simply don't align with middle-income salaries."

Mowad said the region has been attracting many new residents due to a lower cost of living relative to other major metropolitan areas, a large concentration of Fortune 500 company headquarters, and no state income tax.

"People aren't just moving here for cheaper homes; they're moving here for careers and long-term opportunities," he said.

Meanwhile, Sejdi is serving on the newly created Westchester County Board of Legislators' Affordability and Economic Development Task Force that will address how to bring more affordable and middle-income housing into one of America's most expensive areas.

"We are hopeful that together we can develop some solutions that will help people in the lower and middle-income brackets be able to afford to make their homes here," she said.

Tyler Durden Sat, 07/25/2026 - 21:00

India's Education Minister Resigns, Delhi Protests End As Modi Caves To 'Cockroach' Youth Movement's Demands

India's education minister, Dharmendra Pradhan, resigned on Saturday and the government agreed to every demand raised by youth demonstrators, bringing weeks of protests - the gravest political crisis of Prime Minister Narendra Modi's third term - to a jubilant close.

Pradhan's exit was the core demand of the self-styled Cockroach Janta Party (CJP), the youth movement that has camped at Delhi's Jantar Mantar since late June over the leak of medical school entrance exam papers. The May leaks forced the cancellation of results and a retest for some 2 million students, and have been linked to several student suicides.

Word of the resignation set off celebrations at the protest site, where thousands of young people danced, chanted victory slogans and handed out sweets as the national anthem played over loudspeakers. "We have done it," CJP founder Abhijeet Dipke told the crowd. Roads around the neighbouring Connaught Place business district were shut as revellers poured in.

In a post on X announcing his decision, Pradhan said he had sent his resignation to the prime minister so that forces hostile to the country could not take advantage of the situation, and voiced deep respect for the aspirations and legitimate expectations of India's young people.

Supporters of India's Cockroach Janta Party (CJP) celebrate after India’s Education Minister Dharmendra Pradhan resigned following days of protests demanding his resignation over National Eligibility cum Entrance Test (NEET) examination paper leaks, at Jantar Mantar in New Delhi, July 25, 2026. REUTERS/Anushree Fadnavi

Hours later, Health Minister J.P. Nadda and Jitendra Singh, a junior minister in the prime minister's office, held a joint press conference with CJP representatives following a further round of talks. Nadda confirmed the government had accepted the movement's full list of demands, which included an overhaul of the examination system, the withdrawal of police cases filed against protesters, and compensation for the families of students who died by suicide after the leaks.

CJP spokespeople formally declared the agitation over and urged supporters across the country to head home peacefully.

The settlement prompted a swift unwinding of the security clampdown that had paralysed parts of central Delhi through the week. Mobile data services around the protest site - which the government had ordered telecom companies to switch off, leaving shopkeepers, vendors and restaurants unable to take digital payments for much of the week - were restored on Saturday. The 16 Delhi Metro stations shut in and around the area, closed for most of the past four days, reopened.

The outcome amounts to a rare climbdown for Modi, who is known for standing firm under public pressure. Pradhan, 57, the son of a veteran Bharatiya Janata Party politician and himself a senior figure once floated as a possible party president, had held the education portfolio since 2021. He is just the second minister in Modi's 12 years in power to leave office amid a scandal, after M.J. Akbar stepped down as junior foreign minister in 2018 during India's #MeToo movement.

The protests were the biggest youth revolt Modi has faced since taking office in 2014, and they had intensified sharply over the past week. Tens of thousands marched on parliament on Monday, where police responded with tear gas and cane charges; on Wednesday night, a crowd of more than 10,000 gathered at Jantar Mantar and some protesters pelted police with stones and bottles. Solidarity rallies spread to cities including Ranchi, Pune, Thiruvananthapuram and Kolkata, while opposition parties, echoing the students' demands, held up the monsoon session of parliament all week.

Modi's first public attempt to calm the unrest - a pledge on Thursday to create special courts to try those behind paper leaks, alongside his declaration on X that "Nothing is more important than the welfare and future of our youth!" - was dismissed by the CJP, which countered that punishing culprits after the fact did nothing to address why papers keep leaking in the first place.

Beyond the exam scandal, the movement tapped deeper frustration among young Indians over scarce jobs and official accountability - discontent that carries echoes of the youth uprisings that toppled governments in neighbouring Sri Lanka, Nepal and Bangladesh in recent years. With young voters a key constituency for the BJP and major state elections due next year, the political stakes for Modi were considerable.

Among those marking the moment was activist Sonam Wangchuk, who had spent 26 days on hunger strike in support of the students and hailed the outcome as proof of what peaceful persistence can achieve.

Tyler Durden Sat, 07/25/2026 - 20:25

US To Resume Mexican Cattle Imports After Yearlong Screwworm Ban

Authored by Kimberly Hayek via The Epoch Times,

The United States said on Friday it will end a ban on imports of Mexican cattle implemented more than a year ago to combat the New World screwworm (NWS), a flesh-eating livestock pest that has already made it into Texas and New Mexico.

Cattle are herded in a stable in Hamilton, Texas, on June 5, 2026. Brandon Bell/Getty Images

In its announcement, the U.S. Department of Agriculture (USDA) said it would coordinate a phased reopening of southern cattle ports beginning Aug. 24.

USDA officials said the United States will first start taking Mexican cattle again at Douglas, Arizona, with two more ports in New Mexico to follow.

The reopening will be staged and depends on Mexico sticking to its New World screwworm control plan. Officials called the move safe to begin now.

Ports in Arizona and New Mexico sit farther from the heaviest infestations in Mexico, livestock traders noted, which lowers the immediate risk compared with Texas crossings.

"Every animal entering the United States through these ports will undergo a full USDA inspection to ensure it is free of any signs of New World screwworm (NWS)," the USDA said.

The United States suspended imports of live Mexican cattle and related livestock on May 11, 2025, as part of efforts to curb the spread of the parasite.

Also on Friday, Mexican President Claudia Sheinbaum said that she had directed local authorities to speed preparations for the reopening.

"I have instructed that we accelerate our work and collaboration with the United States even further to have everything ready as soon as possible to restart the movement of cattle," she said in a post on X.

"Exports will resume starting in the last weeks of August through Agua Prieta, Sonora, followed shortly thereafter by two additional points in the state of Chihuahua."

The USDA said it has identified Sonora and Chihuahua as the lowest-risk Mexican states for New World screwworm due to their strong, well-established inspection programs and their geographic distance from southern Mexico, where most cases are concentrated.

On Friday, U.S. Secretary of Agriculture Brooke L. Rollins said, "The closure of the Southern ports of entry for the last year has been a tough but necessary action to control the spread of NWS in Mexico and protect the American livestock industry."

The New World screwworm is a parasitic fly whose females lay eggs in open wounds or mucous membranes of any warm-blooded animal. The hatched larvae burrow into living flesh and can kill the host if left untreated.

The pest has pushed north through Central America. It appeared in June on Texas farms and in New Mexico, representing the first confirmed U.S. cases since 2017. One early case involved a 3-week-old calf in south Texas, with others found in goats, calves, and a dog.

Beef Industry In Turmoil

The United States typically imports more than 1 million head of cattle from Mexico each year, roughly 5 percent of the animals that go through American processing plants. Those calves usually head to U.S. feedlots for finishing, and prices spiked.

The decision also comes after domestic cattle supplies in the United States fell to a 75-year low. Beef prices rose to records this year, with meat processors struggling; Tyson Foods closed a large processing plant in Nebraska in January, and JBS said it would shutter one in Pennsylvania in mid-August.

The $100 billion U.S. beef industry contracted most sharply in Texas, the nation's top cattle state.

Texas Agriculture Commissioner Sid Miller called the reopening the right thing for ranchers and consumers, though he said it should have happened earlier.

"While I'm pleased to see this important trade relationship restored, the prolonged closure has already taken a toll on producers, disrupted supply chains and created uncertainty that could have lasting consequences for the cattle industry," Miller said.

He added that while action has moved in the right direction, "the pace and scale of the screwworm response have not gone far enough."

USDA has invested in sterile-fly production, which is the main tool used to push the pest back in past decades. It has renovated facilities in Mexico and activated dispersal sites in Texas.

Yet production remains under the hundreds of millions of sterile flies needed weekly to push the infestation south, as the pest entered the country despite the ban.

Tyler Durden Sat, 07/25/2026 - 19:50

War Zones Converging? Zelensky Says Ukraine Hit Ship "Transporting Military Cargo" From Iran

Ukraine has rapidly expanded its one-way attack-drone campaign from the Sea of Azov into the Black Sea, claiming strikes against more than 180 vessels and maritime targets around the Crimean region over the past three weeks, according to Reuters. The widening maritime offensive follows a summer campaign in which Ukrainian drones struck dozens of Russian energy assets, warehouses and logistics hubs.

The risk of the Russia-Ukraine conflict merging with the US-Iran conflict seems plausible, but remains low at this point, despite overnight signals from Ukrainian President Volodymyr Zelensky on X that Ukrainian forces had hit "military cargo shipments involving Iran."

Zelensky noted, "We also have very good results from long-range strikes in the waters of the Caspian Sea. In particular, these are vessels that were involved in transporting military cargo from Iran, and a warship."

In August 2025, Ukraine struck the Russian cargo ship Port Olya-4 at a Caspian Sea port, saying it was loaded with Iranian Shahed drone components and ammunition.

An Estonian-born blogger on X, who goes by "WarTranslated," cited Iranian Telegram channels claiming that Tehran is "threatening ballistic missile strikes on Ukraine after Zelensky said they hit a military vessel carrying cargo between Russia and Iran."

Iranian Telegram channels are threatening ballistic missile strikes on Ukraine after Zelensky said they hit a military vessel carrying cargo between Russia and Iran. pic.twitter.com/t6TXWAaoUQ

— WarTranslated (@wartranslated) July 25, 2026

The Ukrainian drone strike on the Iran-linked vessel points to deeper Russia-Iran military cooperation, likely centered on Tehran's transfer of Shahed drone technology, components and munitions to Moscow.

More or less, this is just noise from both sides. Still, the two Eurasian war zones remain connected through Russia-Iran military cooperation, creating an ongoing risk that any escalation could cause the conflicts to converge into a broader confrontation. That risk remains low, but it cannot be dismissed.

Tyler Durden Sat, 07/25/2026 - 19:15

$139 Million Drug Bust Exposes Broker-Style Cross-Border Trucking Operation

By Phil Brink of FreightWaves

Canadian and U.S. agencies uncovered a broker-style operation using commercial transportation connections to move illegal drugs.

Authorities display evidence seized during Project Bay, including suspected cocaine, methamphetamine and opium. The operation recovered nearly 1.7 metric tons of drugs and 17 firearms. (Photo: Ontario Provincial Police) 

Canadian authorities seized nearly 1.7 metric tons of illegal drugs during a cross-border investigation named Project Bay. The haul included suspected cocaine, methamphetamine and opium. Authorities estimated the products’ street value above $139 million. Investigators called it one of Ontario’s most significant seizures from a single case.

Traffickers used broker-style transportation model

Windsor Police launched the investigation in January 2025. The Canada Border Services Agency joined the effort the following month. Investigators worked to identify a trafficking network with connections to the international border. Ontario Provincial Police later supported the cross-border and interprovincial portions.

Investigators found a broker-style model operating within the commercial transportation sector. The organization used established connections to arrange cross-border drug movements. Drivers knowingly transported the illegal products within legitimate supply chains, according to the release. Authorities continue investigating the network’s source and full scope.

U.S. Homeland Security Investigations and the Drug Enforcement Administration assisted with international aspects. Toronto Police and Peel Regional Police also provided operational and investigative support. Several specialized Canadian units participated during the searches. Those agencies included local, provincial and federal law enforcement partners.

Searches uncover drugs, firearms and cash

Police teams executed 18 search warrants on June 25. The locations included Windsor, Corunna, LaSalle, Brampton and Kleinburg. Authorities conducted two additional searches in Markham and Caledon on July 14. Investigators then carried out two more in Brampton on July 20.

Authorities seized 973 kilograms of suspected cocaine and 660 kilograms of suspected methamphetamine. They also recovered 49 kilograms of suspected opium and 230 oxycodone tablets. Officers found 17 firearms, including an anti-tank rifle. The haul also contained ammunition, brass knuckles, magazines and a baton.

Investigators recovered C$80,000 and US$10,000 during the operation. Officers also took one vehicle as offense-related property. Additional items included high-end jewelry, money counters, 43 cellphones and six laptops.

Twenty-one people face 104 offenses

Authorities charged 21 people with 104 offenses under two Canadian laws. Those statutes include the Criminal Code and the Controlled Drugs and Substances Act. Police arrested 19 defendants during the operation. Two others remain wanted under outstanding arrest warrants.

The OPP Provincial Asset Forfeiture Unit joined the case. Its investigators will examine possible offenses involving criminal proceeds. The unit will also assist with taking property connected to alleged crimes. Project Bay’s broader investigation remains active.

“This seizure reflects the scale of criminal activity that crosses borders and impacts communities across Ontario,” OPP Chief Superintendent Mike Stoddart said. He credited cooperation among municipal, provincial, federal and international partners. “We have significantly disrupted the flow of harmful substances,” Stoddart said. He also said authorities removed substantial profits from the criminal economy.

“This investigation began as the result of information obtained by the Windsor Police Service,” Chief Jason Crowley said. He said the operation later expanded across several Ontario jurisdictions. Crowley credited law enforcement partners with dismantling the network. He said the organization moved dangerous drugs and firearms into communities across the province.

CBSA’s Southern Ontario region has seized 5,555 kilograms of illegal drugs at land ports this year. Officers there have also seized 206 firearms during that period. Regional Director General Michael Prosia credited cooperation among domestic and international agencies. He specifically thanked Ontario Provincial Police and Windsor Police for their work.

Project Bay remains an active investigation. Before publication, FreightWaves contacted OPP for additional information about the transportation operation. OPP did not provide a response before publication. FreightWaves will update this article as officials release more details.

Why it matters

The case shows how criminal networks can place illegal products inside legitimate commercial supply chains. Transportation professionals can use these details to recognize how traffickers may exploit industry connections.

Tyler Durden Sat, 07/25/2026 - 18:40

Rand Paul Should Make Fauci Answer For Wuhan And BeagleGate Lies

Authored by Anthony Bellotti via American Greatness,

Fauci no longer faces any realistic risk of criminal exposure for perjury or other past federal offenses covered by the pardon.

Next week, Dr. Anthony Fauci is scheduled to testify before Sen. Rand Paul's Senate Homeland Security and Governmental Affairs Committee. After years of stonewalling, evasions, carefully parsed denials, and outright lies, this hearing presents a rare opportunity to get answers from America's most notorious mad scientist, who recklessly funded dangerous animal experiments that likely caused COVID-19 and financed beagle torture in labs worldwide.

This time is different.

In one of his final acts in office, in January 2025, President Joe Biden granted Fauci a sweeping pardon that conspicuously covered a decade-long period starting when he first funded the infamous grant that paid the Wuhan lab, which was first exposed by White Coat Waste in early 2020 and cut days later by President Donald Trump.

This means that Fauci no longer faces any realistic risk of criminal exposure for perjury or other past federal offenses covered by the pardon. So, the usual Fifth Amendment justification for refusing to answer questions about potentially self-incriminating conduct is largely off the table.

Paul should press Fauci on three false statements he has repeatedly made to Congress, the press, and the American people about the Wuhan lab and BeagleGate - claims debunked by evidence obtained by White Coat Waste.

First, Fauci needs to finally fess up about funding gain-of-function animal experiments at the Wuhan Institute of Virology.

In multiple Senate hearings in 2021, Fauci categorically told Paul and others that "the NIH has not ever and does not now fund gain-of-function research in the Wuhan Institute of Virology." He repeated essentially the same claim during a House Oversight Committee hearing in 2024.

But White Coat Waste has receipts. Our Freedom of Information Act investigations uncovered damning internal government emails from 2016 showing that NIH officials told EcoHealth Alliance that its Fauci-funded animal experiments with the Wuhan lab "appear to involve" gain-of-function research that was banned at the time.

Instead of stopping the experiments, NIH worked with disgraced EcoHealth president Peter Daszak to skirt the ban. Daszak gleefully celebrated the decision, writing, "This is terrific! We are very happy to hear that our Gain of Function research funding pause has been lifted."

In May 2024, then-acting NIH Director Lawrence Tabak finally admitted to the House Oversight Committee that NIH did, in fact, fund gain-of-function in Wuhan.

Paul should ask a simple question: Does Fauci still stand by his testimony, or will he finally acknowledge that his previous statements to Congress were false or misleading?

Second, Fauci should answer for his testimony denying that he used his personal email for official NIH business.

During House testimony in 2024, Fauci declared to Chairman James Comer, "To the best of my recollection and knowledge, I have never conducted official business via my private email."

Yet White Coat Waste's FOIA investigations uncovered official NIH emails showing Fauci telling a Washington Post reporter covering the BeagleGate scandal, "I will send you an email via my Gmail account."

Records have also emerged showing that David Morens, Fauci's longtime advisor who was indicted in April for FOIA violations, told Daszak and others in 2021, "I can either send stuff to Tony on his private Gmail or hand it to him at work. . . He is too smart to let colleagues send him stuff that could cause trouble."

Will Fauci come clean?

Finally, Paul should revisit BeagleGate - the viral dog testing scandal first exposed by White Coat Waste that Fauci and his allies spent years falsely dismissing as a conspiracy.

In a 2021 Washington Post cover story written by the same reporter Fauci said he would contact through his personal Gmail account, he called the dog testing claims "ridiculous accusations and outright lies." In his 2024 memoir, Fauci again dismissed the story as "lies," "lunacy," and "off-the-wall accusations" and defended himself by awkwardly saying, "I am a passionate animal lover, especially of dogs."

But government documents obtained by White Coat Waste prove that Fauci funded countless dog labs, including the infamous experiments in Tunisia, where beagles were drugged and had their heads locked in mesh cages full of biting sand flies. After reviewing these records, even the Washington Post, which had aggressively defended Fauci and smeared White Coat Waste, finally acknowledged in 2024 that it published NIH disinformation, acknowledging that "NIH was not fully transparent as it tried to handle a public-relations nightmare."

Paul was one of the lawmakers who led the charge with White Coat Waste to hold Fauci accountable for funding beagle abuse and lying about it.

Americans deserve answers.

Next week's hearing may be Congress's last meaningful opportunity to confront Anthony Fauci directly and finally set the record straight on Wuhan and BeagleGate. Paul should seize it.

* * * [ZH]: Not everyone is convinced Rand can bring the heat. What say you?

Fuck this guy too. He’s a powerless loser who is essentially a blow off valve for the disaffected pic.twitter.com/XJJb4PUnBo

— The_Real_Fly (@The_Real_Fly) July 23, 2026

Tyler Durden Sat, 07/25/2026 - 17:30

Democrats Are Worried The GOP's Cash Advantage Could Hurt Their Chances In The Midterms

The Democratic Party heads into the midterms with generic congressional ballot polling and historical precedent on its side. It is nevertheless worried that the majorities it so desperately wants could still slip away.

Politico reported this week that Democratic strategists increasingly fear their favorable political environment could be overwhelmed by a Republican cash stockpile that dwarfs their own.

Federal Election Commission filings through the end of June show the three main GOP national committees and their affiliated congressional super PACs sitting on a combined $657 million. Their Democratic counterparts held $334 million. Add President Trump's MAGA Inc. super PAC, which reported more than $400 million on hand several weeks earlier, and the Republican reserve runs to more than three times what Democratic Party committees and congressional super PACs can muster between them.

That gap matters more this cycle than it would have in any previous one. On June 30, the Supreme Court ruled in NRSC v. FEC that federal limits on coordinated party spending violate the First Amendment, overturning a 2001 precedent and freeing national party committees to spend without ceiling in direct coordination with their candidates. Committee money that once had to be routed through independent expenditures can now be aimed straight at a race.

Democratic strategist Morgan Jackson, an adviser to former Gov. Roy Cooper's Senate campaign in North Carolina, calls the imbalance the central threat to his party's hopes this cycle.

"What is putting the House majority and the Senate majority, nationally, in danger is the Republicans' massive stockpile of resources that they're putting together to push back," Jackson said.

He warned that the spending gap could erode the advantage Democrats have built everywhere else. "If you get outspent five to six to eight to one, that can alleviate the environmental advantage that Democrats have this cycle," Jackson said.

The committee-level numbers are lopsided almost everywhere. The Republican National Committee reported $128 million in cash against $16 million for the Democratic National Committee, which is also carrying $18 million in debt. The National Republican Senatorial Committee held $55.9 million to the Democratic Senatorial Campaign Committee's $41 million. The National Republican Congressional Committee held $92.7 million to the Democratic Congressional Campaign Committee's $79 million.

The super PAC gap is wider still. Senate Leadership Fund, the leading Republican Senate super PAC, reported roughly $112 million more on hand than the Democratic-aligned Senate Majority PAC. Congressional Leadership Fund, its House counterpart, held about $51 million more than House Majority PAC.

The national totals obscure a more complicated picture in the marquee Senate races, where the money runs the other way. Democratic Sen. Jon Ossoff holds roughly $40 million more on hand than Rep. Mike Collins in Georgia. In Texas, Democrat James Talarico has nearly $20 million more than Attorney General Ken Paxton. In North Carolina, Cooper is about $17 million ahead of former Republican National Committee Chairman Michael Whatley. In several of the contests that will decide both chambers, individual Democratic candidates are burying their opponents even as the national party apparatus falls behind.

The picture inside the party gets messier once primary season is factored in. A wave of insurgent challengers aligned with the Democratic Socialists of America has forced sitting Democratic incumbents into costly primary fights this cycle, draining accounts well before anyone gets near a Republican opponent.

Senate Majority PAC spokeswoman Lauren French rejected the idea that the committee gap tells the whole story. "Republicans can crow all they want about getting massive checks from donors and businesses and billionaires, but we're going to win because we have the actual support from people who are voting," French said.

Other Democratic strategists are less confident that grassroots enthusiasm can offset a structural disadvantage. Jesse Ferguson argued that the media environment itself has made the shortfall more expensive than it would have been in past cycles. "Too many people think that fragmentation of media meant more efficiency and spending less. Wrong - it means you have to spend more," Ferguson said. The proliferation of streaming platforms, social media, and other digital outlets has driven up the price of political advertising, strategists say, raising the stakes for whichever side can deploy the deepest reserves of outside money.

What should worry Democrats most is that the Republican advantage has barely been touched. Trump political director James Blair said last month that Republican spending would begin "very soon," without offering a timetable. The fear on the Democratic side is that the bulk of MAGA Inc.'s $400 million war chest is being held back deliberately, to be dumped into competitive House and Senate races in the closing weeks - at the exact moment undecided voters start paying attention and Democratic committees have the least room left to answer.

Tyler Durden Sat, 07/25/2026 - 16:55

Trump Orders Signs Outside Smithsonian Museum To Warn Of Inaccurate Exhibits

Authored by Aldgra Fredly via The Epoch Times,

President Donald Trump issued an executive order on July 24 directing signs to be placed outside one of the Smithsonian Institution’s history museums warning visitors that some exhibits contain inaccurate information.

The order references a July report by the White House Domestic Policy Council, which alleges that the National Museum of American History “cannot be trusted to tell America’s story honestly and in a way that is inspiring, unifying, and worthy of our great republic.”

Trump said in his order that the report shows that “the Smithsonian leadership does not present American history as a shared national inheritance to be taught and celebrated, but instead views American history as a ‘prime tool’ to advance ideas of social justice and the radical transformation of our society.”

The president directed his administration to use “all available authorities” to encourage the Smithsonian Institution to correct the issues identified in the report and ensure compliance with the laws, funding requirements, and contract conditions.

The order instructs the Interior Department to place temporary signage along the sidewalks and walkways that are maintained by the National Park Service and used by the public to access the museum, informing visitors of the report’s findings.

The signage will direct visitors to locations and resources presenting what the president deems accurate information regarding America’s history, according to the order.

The Smithsonian Institution did not return a request for comment by publication time.

The National Museum of American History, located in Washington, was originally named the National Museum of History and Technology when it was opened in January 1964. The museum was renamed in October 1980.

The museum’s collection includes more than 1.7 million objects representing the nation’s heritage in the areas of science, technology, society, and culture, according to its website.

Anthea Hartig, director of the National Museum of American History, defended the museum during a July 21 congressional hearing, saying its work is guided by the Smithsonian’s standards of scholarship and independence.

“The museum does not take sides in America’s political debates,” Hartig said. “We preserve and document the evidence of American life in all of its breadth, so that the public can encounter the past and draw their own conclusions.”

The White House report followed Trump’s March 2025 executive order directing the Interior Department to ensure that public monuments “do not contain descriptions, depictions, or other content that inappropriately disparage Americans past or living.”

The report said the museum has not established any exhibit specifically dedicated to the Founding Fathers, the Second Continental Congress, the Declaration of Independence, the American Revolutionary War, or the nation’s path to independence and the establishment of constitutional rule of law.

“Our central finding is not that the museum has simply added overlooked stories, corrected perceived errors, or broadened its historical scope,” the report stated.

“Rather, it is that museum leadership has explicitly adopted an ideological framework that no longer treats the American story as a shared national inheritance to be taught or celebrated, but as a political instrument to divide, dispirit, and discourage our citizens.”

Tyler Durden Sat, 07/25/2026 - 16:20

Private Forecasters Warn "New Heat Event" Will Target US East Coast

Folks across the Mid-Atlantic are enjoying a welcome stretch of mild weather today, with temperatures in the 70s following several rounds of extreme heat earlier this month that sent temperatures into the 90s and even into the triple digits. Enjoy the comfortable nights in the 60s and low 70s over the next few days, because another heat wave is already on the horizon.

"New heat event potentially targets East Coast Aug 5-7," private forecaster Commodity Wx Group wrote on X.

New heat event potentially targets East Coast Aug 5-7. pic.twitter.com/GTwfR5pVrY

— Commodity Wx Group (@commoditywx) July 24, 2026

Bloomberg forecast data show temperatures beginning to climb by the middle of next week, with highs peaking in the mid-to-upper 90s during the first week of August. The incoming heat wave is not expected to match the intensity of the two earlier this month, when temperatures surged well into the triple digits.

Notably, temperatures in the Lower 48 have reached their seasonal peak and will begin trending downward.

Peak summer is a welcome relief for customers across the PJM grid, who are facing some of the highest power costs in the nation.

Tyler Durden Sat, 07/25/2026 - 15:45

Do DSA Elites Rank America Worse Than Mao's 70-Million Body Count?

This is a lightly edited transcript of today’s video from Daily Signal senior contributor Victor Davis Hanson.

We’re hearing more and more from the Democratic Socialists of America about all of the sins of America and very little of the good things we’ve done to ourselves and to the world at large on our 250th birthday. 

What is it, the nature of this DSA, Democratic Socialists of America, and the diversity, equity, inclusion criticism that we were racist, sexist, nativist, cruel, ruthless, etc., etc.  

But my question is, compared to what? 

Mao Zedong? He killed 70 million people.

He was the greatest mass murderer in history, and that government is still communist in an unbroken chain from [Chinese leader] Xi [Jinping] all the way back to Mao. Do we ever talk about that or the million people who are in concentration camps in China? 

Compared to historically to the Aztecs? 

We’re told the Aztecs were great people. They had an empire, but they crushed over a million people to create their empire. Some years, they sacrificed up to 10,000, maybe 15,000 a year of conquered tribes of fellow Indigenous people. 

Do we remember Shaka Zulu, the 19th-century creator of the Zulu nation?

He was responsible for a genocide in crushing his enemies that probably cost over a million lives. 

Do we really think that the Native Americans were living in paradise until Europeans came? The story of Native Americans was conquest, enslavement, butchery of rival tribes. 

So, what is going on? 

We have a tradition in the West of self-criticism. That’s what makes us different. Rationalism, self-criticism, improvement. But when that goes to an extreme, it ventures from self-criticism and self-reflection to nihilism, and it’s quite destructive. 

So, let’s just take a look at where the United States is compared to the rest. 

Look at immigration. Why do a million people, or 2 million people, 10,000 a day under Joe Biden, from very poor countries, most of them from what we would call the former Third World that were victims of socialism, why do they risk their lives coming here every year? 

Why do all these critics of the United States … [Rep. Alexandria Ocasio-Cortez], why did her parents want to come here? Why did [Rep.] Ilhan Omar’s father want to come here? Why did [Rep.] Rashida Tlaib’s father want to come here? Why did [New York City Mayor] Zohran Mamdani’s parents want to come? Was it so bad? 

Can’t they ever acknowledge that they came here because they had greater security, they had greater freedom, they had greater economic opportunity? And if they had criticisms, it was never enough that they wanted to go back to the places that they praised, but only from a distance and in the abstract. 

The truth is that the poor in the United States are better off than most of the middle classes in every other country. 

We saw that in the World Cup when middle- and upper-middle-class Europeans came over, and unlike … to watch the games, and unlike most tourists, they didn’t just stick on the coasts. They went to places in Arkansas, Oklahoma, Texas, the South, and the Midwest. 

And they found two things.

One, Americans were amazingly friendly and open, upbeat, not downers and drab, and everything’s terrible, which they expected from their experiences in Europe. 

And more importantly, they were affluent. They had big homes. They had air conditioning. the poor had appurtenances. Everybody has a cell phone. Nobody worries about the cost, apparently. 

There’s also then the hypocrisy of a lot of our critics.

And let me just give you an example of a few of them. 

Hasan Piker is a child of very, very wealthy Turkish immigrants that became U.S. citizens. He grew up for much of his life in Turkey. He gave a talk the other day in a Mao suit to Democratic Socialists of America. Think about that. He put on the uniform, so to speak, of the greatest mass murderer in history, and then he denounced capitalism. 

But he didn’t denounce capitalism in his own life because his parents are multimillionaires. He is a multimillionaire, and he drives a, what? $120,000 Porsche. Isn’t that a luxury of the bourgeoisie? 

And then there’s Zohran Mamdani, of course. His family, as I pointed out numerous times, was the elite of the elite of the elite in Uganda, a community of expatriates, Indians, from India that control 60% of the wealth, and they’re only 1% of the population. 

And he grew up in privilege here. He had a very nice home. He has a family estate on Lake Victoria, of all places. 

Ro Khanna, the congressman from California, he always is pointing out the evils of Republicans, and as he looks at the drift of the Democratic Party, he puts his finger in the wind, and he says socialism is the answer. Ro Khanna does. 

But he’s a multimillionaire. His father-in-law is one of the wealthiest members of the Indian American community, probably worth $500 or $600 million. His own children have been deeded golf courses. His wife drives a $190,000 Range Rover, and he’s lecturing us about our shortfalls? 

And then, of course, we come to [California Gov.] Gavin Newsom. He wants to get in on the socialist craze, so he said the other day, as is his wont, moving his arms around and being very slick and glib, that capitalism fails. It didn’t work. 

It worked for you, Gavin. You have a $9 million home. 

You are the, basically, the quote-unquote, “protégé” of the Gordon Getty oil for- fortune, who backed all of your business opportunities. 

Graham Platner, the now-disgraced madman who thought he was going to be senator with a Nazi tattoo. He criticized capitalism. He said that, you know, he was drifting towards socialism, very critical of America. 

But he really wasn’t a small-business person. He was a construct. His mother and father, who were very wealthy, one owned an upscale restaurant, the other was a well-known, often corporate real estate lawyer. They set him up in business, and they were his only client, and they allowed him to have land to use. 

So, what I’m getting at is most of this criticism of America is not coming from the so-called poor. It’s not coming from the lower middle classes. It’s coming from elites in urban enclaves who have done very well with capitalism, and they feel that by mouthing these socialist and communist platitudes, it’s a way to get power within the Democratic Party first, and then within the United States second. 

And remember one thing, this is not new. Most of the violent socialist communist movements in history, whether we look at the anarchist of the late 19th century, or whether we look at the Bolsheviks of 1905 all the way up to the Russian Revolution of 1917, or we look at the revolutions of 1848 in Europe, especially the Reign of Terror, 1792 and 1793, when a bunch of very wealthy, this should sound familiar, socialists hijacked the French Revolution and turned it into a Stalinist-like murder spree. 

They all had one thing in common. They were very, very wealthy, and they hated the very system that had enriched them, and they wanted to try out a whole series of nihilist projects on whom? On the middle class and the poor, with the proviso that none of their ideology would ever apply to themselves. 

Tyler Durden Sat, 07/25/2026 - 15:10

BLM Is Back And Protesting The Police Shooting Of Another Violent Career Criminal

They are far less active across the US in 2026, but not truly gone.  Is it exasperating, or, is it entertaining?  It depends on how you look at it.  Yes, the Black Lives Matter movement is back, and big surprise, they're angry over the police shooting of another violent minority criminal.  But, is he black?

Not according to his extensive offender detail record, in which his race is listed as "White" and his ethnicity is listed as "Latino".  Yet another in a long line of imprisoned minority perpetrators falsely identified as white on their rap sheet in order to artificially reduce official crime stats.  That said, it's nice to know that BLM is finally admitting that all lives matter. 

Corey Durrell Ruiz, 38, recently released from prison, was approached by police while riding a bicycle after allegedly attempting to enter (break into) random vehicles in Madison, Wisconsin.  He was also suspected of a previous bike theft.  

When officers attempted to detain Ruiz, he ran.  He was tackled off the bike, but produced a fixed blade knife and stabbed one of the officers.  The wounded officer fired three shots, killing the suspect.  

July 22, 2026 – Madison, Wisconsin.

Four officers struggle to arrest a man suspected of stealing bikes and checking cars.

During the fight, he pulls a large fixed-blade knife.

One officer is stabbed. A second officer is also injured.

A female officer yells “Taser, Taser,…

— Louis Montoya (@montoyalouis1) July 24, 2026

Generally speaking, pulling any weapon during an arrest and trying to use it against an LEO is legal justification for the use of deadly force in return.  It is unlikely that the officers involved will face charges in court.  Not to be overlooked, Corey Ruiz has a long criminal history of up to 40 separate misdemeanors and felonies dating back to 2007. 

This includes an extensive history of attacking police officers, and yes, this does matter because it shows a consistent pattern of violence.  A world without Corey Ruiz is, objectively, a better world.

 

The Black Lives Matter movement and the mainstream media have immediately seized on the shooting in an effort to exploit it for political purposes.  The local Democrat run government is already bending the knee to protesters as they hijack press briefings with inane fatiguery.  BLM mobs are stalking Madison looking for chances to create chaos.  Wisconsin's leftist governor is calling for "accountability" in the shooting.

It's fascinating that the family of Corey Ruiz has appeared on camera to demand transparency, given that Ruiz was listed as homeless at the time of the encounter with police.  Multiple reports indicate mental health and substance abuse issues, and apparently no one from Ruiz's family was willing to give him a place to stay.  They are, though, readily available to soak up the media spotlight and feed the activist fervor in the wake of his death. 

News outlets are circulating photos of Ruiz from 2014; a common tactic used by the media to make the suspect look younger and elicit greater empathy from gullible portions of the public.

  

Concert attendees in Madison got a taste of the old BLM mob mentality when protesters stormed the venue and demanded a platform for their grievances.  As much as they would like this to become a "George Floyd moment", however, times have changed and BLM has exhausted much of the public support they had in 2020. 

Mob of angry protesters crashed a concert in Madison, Wisconsin, demanding "justice" for Corey Ruiz, a black man who was shot and killed by police after he allegedly pulled a knife during an arrest.

They essentially held the attendees hostage while hijacking the stage. The event… pic.twitter.com/J2GALWl4ob

— Libs of TikTok (@libsoftiktok) July 23, 2026

The shooting is a clear case of officer self defense based on eye witness accounts and the available video footage.  Police body cams are liable to give more detailed insight into the incident, but the evidence against Ruiz is already damning.  

Leftist groups and Democrats seem to be angling for more Kenosha-style riots, perhaps as a means to create disruption during an election year.  But the American populace is tired of the theatrics.  If the protests don't fade due to lack of interest and riots do take place, few people are going to shed a tear if the National Guard drops the hammer on them.  

Ultimately, Ruiz is one of many repeat offenders who had no chance of reform; a member of the 1% of people who cause the vast majority of societal grief for the other 99%.  He should have stayed locked up for the safety of the community at large, and if he had been he would still be alive today.  Maybe, though, that's not what the Democrats and BLM really want.  

Tyler Durden Sat, 07/25/2026 - 14:35

Homebuyer Demand Remains Strong In High-Risk Areas: Report

Authored by Mary Prenon via The Epoch Times,

While nearly one in four homes across the United States are located in areas susceptible to severe weather conditions, many homebuyers are still seeking out properties in these high-risk regions, a July Realtor.com report found.

An aerial view shows empty lots and new homes under construction in the Pacific Palisades neighborhood of Los Angeles on Jan. 5, 2026. Josh Edelson/AFP via Getty Images

The organization's data show that 23.1 percent of America's homes - with an estimated $11.2 trillion in value - are currently situated in areas prone to natural disasters.

The report indicates that, despite the likelihood of flooding, wildfires, or extreme windstorms in some areas, homebuyer demand remains strong, often driven by lower list prices than in nearby lower-risk areas.

"Price is still the biggest motivator for a lot of home shoppers, even in places where climate risk is well known," Realtor.com economist Jiayi Xu said in the report.

"But that doesn't mean the risk disappears. It shows up later, in insurance premiums, HOA fees, and financing, often after the sale is already done."

Homeowners in these high-risk locations are already paying a premium to protect their properties against possible damage, a median of $192 per month in homeowner association (HOA) fees, which is 53.6 percent more than homeowners in lower-risk areas, according to the report.

Realtor.com found that Delaware, South Carolina, and Oregon lead the nation for the widest gaps between HOA fees in high- and low-risk areas. In Oregon, for example, the median HOA fee in high-risk areas is $423, compared with $114 in lower-risk areas.

In California, where certain regions have suffered from devastating wildfires over the years, many homebuyers are still not deterred from purchasing in those areas.

According to the report, listings in high-risk Santa Clara County are priced at 78 percent of the per-square-foot price of homes without severe risk. These properties also command 48 percent more views per listing.

Los Angeles County homes in higher-risk areas also offer discounts, with homes there priced at 75 percent of those in lower-risk areas and accounting for 23 percent more views.

"When disaster strikes, shoppers retrench, but the effect is short-lived," the report states. "Following the January 2025 LA wildfires, buyer interest in high-risk homes dropped 10%, yet fully recovered within one month."

However, in other markets such as Anne Arundel County, Maryland, homebuyers are willing to pay 44 percent more per square foot to live in areas deemed at high risk for weather damage because waterfront access often outweighs the risk.

A similar situation in Llano County, Texas, shows homebuyers paying almost double for a home in a higher-risk area so they can live near a river.

The report said other areas of the country that have been continuously hit by flooding include Oklahoma, Idaho, Mississippi, and Alabama.

"Buyers are not seeking risk - but in markets where affordability has long been an issue, price is the dominant signal, and high-risk homes happen to offer the discount that makes ownership possible," the report states.

A May 2026 Pew Research Center report found that 71 percent of U.S. homeowners said their home insurance premiums had increased. Among those homeowners, many cited rising repair and rebuilding costs and more frequent extreme weather events as major reasons for the increases.

In an April report, Insurance.com, an online comparison service and digital agency, stated that Florida's high hurricane risk has made it difficult for residents to obtain home insurance.

It also noted that many carriers in the state had gone out of business, leaving just the state insurance option, Citizens Insurance, which can cost homeowners about $7,000 a year and even more in coastal areas.

Obtaining insurance in California is also difficult, the report noted, due to wildfires. As a result, some major carriers, including State Farm and Allstate, have stopped issuing new policies.

For those who still choose to purchase homes in high-risk weather zones, Insurance.com recommends ensuring they have adequate replacement cost coverage in the event of a natural disaster.

Tyler Durden Sat, 07/25/2026 - 14:00

Top NIH Official Wanted To Shut Down Research Into COVID-19 Vaccine Injuries: Emails

Authored by Zachary Stieber via The Epoch Times,

Top officials with the National Institutes of Health (NIH) expressed misgivings about researchers with the agency studying people with neurological issues after they received COVID-19 vaccines, according to newly released emails.

Principal deputy director of the National Institutes of Health (NIH), Lawrence Tabak, testifies before the Committee on Oversight and Accountability in Washington on May 16, 2024. Madalina Vasiliu/The Epoch Times

Dr. Avindra Nath, a senior investigator with the NIH's National Institute of Neurological Disorders and Stroke, was studying people with post-vaccination neurological problems in 2020 and 2021.

In an email on April 10, 2021, he sent a draft of a paper to the institute's director, Dr. Walter Koroshetz, that outlined what he had found.

"Early recognition and treatment with corticosteroids can reverse the symptoms," Nath wrote.

The following day, the institute's director sent the manuscript to Dr. Anthony Fauci, who at the time was director of another NIH institute.

"There have been steady slow stream of reports to me of post vaccination neurologic conditions, seem to be mostly peripheral nerve disorders ... maybe an occasional spinal cord issue," Koroshetz told Fauci. "Avi has been collecting a bunch. He has a report sent out to publish. Hard to know not due to chance but are timed to the vaccination."

Another NIH employee sent the manuscript to then-NIH Director Dr. Francis Collins and Dr. Lawrence Tabak, a second top NIH official, and shared that the New England Journal of Medicine rejected the paper.

"What do you make of this?" Collins wrote in response. "The draft letter doesn't explain how these 32 patients were referred - leaving one to wonder whether this is common or rare."

Koroshetz told Collins that many reports had been lodged with the Vaccine Adverse Event Reporting System and that Nath had been attracting referrals because he had appeared on a podcast to discuss neurological problems following COVID-19 vaccination.

Koroshetz also said that Nath, and another employee at his institute, had suffered tinnitus after receiving COVID-19 vaccines, and that Nath had hearing loss.

Collins said the approach taken by Nath's team was "very troubling," adding, "collecting anecdotes and then trying to build a case isn't scientifically compelling - and will have the main consequence of feeding vaccine hesitancy and social media overreaction."

Tabak wrote privately to Collins, telling him, "I don't understand why Walter does not shut this down."

"While the emails do not prove that Collins, Tabak, or Fauci expressly ordered Nath to abandon the manuscript, they raise serious questions about whether NIH leadership viewed its potential effect on vaccine confidence as a compelling reason to suppress its publication," the Informed Consent Action Network, which released the missives on July 22, said in a statement.

Collins, Fauci, and Nath did not return requests for comment by the time of publication. Tabak could not be reached.

The paper was never published in a journal. It was released as a preprint, or without peer review, in May 2022, more than one year after Nath sent it to Koroshetz.

Dr. Danice Hertz, a retired gastroenterologist who received the Pfizer-BioNTech COVID-19 vaccine shortly after it was authorized in 2020 and suffered severe problems, was one of the patients who was examined by Nath's team.

"I have always believed that Fauci must have told Nath to stop talking to us, as we were all abruptly dismissed from Nath's care without explanation. Now I know that my suspicions were true," Hertz told The Epoch Times in an email after reading the newly released missives.

Dr. Anthony Fauci testifies before the Select Subcommittee on the Coronavirus Pandemic in Washington on June 3, 2024. Madalina Vasiliu/The Epoch Times Tyler Durden Sat, 07/25/2026 - 12:50

'Largest Group Of TDS Sufferers Ever Put Together': Trump Delivers Remarks At Correspondents' Dinner

Authored by Emel Akan via The Epoch Times,

President Donald Trump attended the rescheduled White House Correspondents’ Dinner in Washington on July 24.

The event that was originally held on April 25 was abruptly canceled due to an assassination attempt against him.

“I am delighted to be here,” Trump said as he began his speech, which lasted an hour.

“Amazing people, a lot of people that I like. Some I don’t like at all, but I respect most of them. I must say that you do a great job, amazing job, and it’s an honor. As I said three months ago, the show must go on.”

Trump continued his speech with jokes and said, “This place is really the largest group of Trump derangement syndrome people ever put together.”

The rescheduled gala took place at the Waldorf Astoria.

During his speech, Trump said he is the most transparent president in history and took several jabs at the media, joking that many media organizations would be “broke” once he leaves the White House.

“When I’m gone, you’re all going to be broke. Your business model is going to be finished,” the president said.

He took direct aim at CNN's Kaitlin Collins (and 'Fake Tapper'):

"I want to personally congratulate CNN's Kaitlan Collins... I thought she had really made it big with a major new sponsorship, but then I informed her that it wasn't her on the Bud Light can, it was Dylan Mulvaney."

CNN released a statement during Trump's speech defending its reporters, writing in part:

"Honest, accurate journalism may sometimes irritate politicians, but our right to report and present that reporting without government interference is fully protected by the U.S. Constitution."

He also joked that, in order to save the media, he would announce a fourth presidential run.

“That’s why tonight, to show just how much I care about the press,” Trump said, “I’m pleased to announce my intention - and this is somewhat of a scoop - my intention to run for a fourth term as president of the United States.”

He then put on a “Trump 2028” hat, drawing laughs from the audience.

This was his first time attending the dinner as president, except for the April event, which was canceled after a shooting occurred just outside the main ballroom.

Trump joked about the dinner itself, saying it was “far worse” than he expected.

At the same time, he acknowledged that he and the reporters who attended the April dinner “went through a period of trauma” that created a unique bond between them. He said he would attend next year’s dinner.

Throughout the speech, Trump occasionally praised the media, saying he respected most reporters and liked some of them. However, he also said that much of the coverage of his administration and policies had been unfair.

The president also criticized his opponents, targeting individual journalists before shifting to Democrats and other public figures.

Trump rebutted the longstanding claim that he decided to run for president after former President Barack Obama mocked him at the 2011 White House Correspondents’ Association Dinner.

He said Obama’s remarks were not a factor in his decision to enter the race in 2016.

“I just decided that I wanted to make America great again. This had nothing to do with that dinner,” he said.

After Trump’s remarks, mentalist Oz Pearlman took the stage and performed mind-reading tricks for the audience, concluding the event.

‘We Will Not Be Intimidated’

White House Correspondents’ Association outgoing President Weijia Jiang delivered the opening address at the dinner.

“Whatever may divide us, we stand together against political violence,” she said.

“An assassination attempt on our president is an attack on democracy itself,” she added, drawing applause from the crowd.

“Tonight, our message is this: We are back. We will not be intimidated.”

The dinner at the Washington Hilton hotel on April 25 was interrupted when gunshots were fired outside the ballroom. Cole Tomas Allen, a 31-year-old man from California, allegedly got past security with a shotgun and shot at a Secret Service officer who was wearing a bulletproof vest. Security officers quickly responded and arrested Allen. The officer was not injured, and no one else was hurt.

The Secret Service immediately evacuated Trump, First Lady Melania Trump, Vice President JD Vance, and several Cabinet members from the venue.

Allen is charged with attempting to assassinate Trump at the event. He also faces one count of transporting a firearm across state lines with intent to commit a felony and one count of discharging a firearm during a crime of violence. He has pleaded not guilty.

At the event, the White House Correspondents’ Association presented special awards to Secret Service Police Officer Victor Gonzales and to the staff of the Washington Hilton to honor their exceptional service during the shooting. The association plans to return to Hilton for next year’s dinner.

The White House Correspondents’ Dinner is a black-tie gala attended by media personalities, business leaders, celebrities, lawmakers, and Cabinet officials to celebrate the Fourth Estate and White House reporters.

The association said the logistical challenges in organizing a second dinner led it to scale back the event, resulting in a smaller gathering with a reduced guest list. The Washington Hilton’s ballroom can hold 3,000 people, while the Waldorf Astoria only fits 700.

While most of Trump’s Cabinet attended the rescheduled event, the first lady, Vance, and Rubio were not among the guests due to prior commitments, a White House official told The Epoch Times.

According to the White House, the following Trump administration officials attended the dinner: acting Attorney General Todd Blanche, FBI Director Kash Patel, Education Secretary Linda McMahon, Small Business Administration chief Kelly Loeffler, Interior Secretary Doug Burgum, Energy Secretary Chris Wright, Homeland Security Secretary Markwayne Mullin, Secretary of War Pete Hegseth, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Health and Human Services Secretary Robert F. Kennedy Jr., acting Labor Secretary Keith Sonderling, NASA Administrator Jared Isaacman, U.S. Trade Representative Jamieson Greer, Army Secretary Dan Driscoll, U.S. Ambassador to the United Nations Mike Waltz, and White House press secretary Karoline Leavitt.

As part of the enhanced security measures, each guest was required to present a unique QR code and a government-issued photo ID to get through the ticketing.

The guests then went through layers of security to access the ballroom.

The White House Correspondents’ Association was founded in 1914 to protect press freedom and preserve journalists’ access to the White House. It held its first dinner in 1921, and the first president to attend was Calvin Coolidge in 1924.

Watch the full speech below:

Tyler Durden Sat, 07/25/2026 - 11:40

"Hell Of A Great Day For Starship": SpaceX Tests Megarocket In First Time Since IPO

SpaceX launched Starship on its 13th test flight on Friday evening, the first since the company's massive IPO, successfully deploying 20 next-generation Starlink V3 satellites while demonstrating further progress with its largest rocket.

"Deployment of 20 @Starlink V3 satellites complete. Today's test will provide critical data as we prepare to expand our Starlink constellation," SpaceX announced on X.

Deployment of 20 @Starlink V3 satellites complete. Today's test will provide critical data as we prepare to expand our Starlink constellation pic.twitter.com/jWKLwXGlsk

— SpaceX (@SpaceX) July 24, 2026

The Super Heavy booster separated about two minutes after liftoff but suffered engine relight failures before a splashdown in the Gulf of Mexico.

Starship soared on the second flight of the next generation, deploying advanced Starlink satellites for the first time and providing priceless data as it travelled through air, space, and sea → https://t.co/Rp7VwBzpWx pic.twitter.com/vCYYKvGvDK

— SpaceX (@SpaceX) July 25, 2026

Starship's upper stage performed better, completing a soft landing in the Indian Ocean and remaining intact. This gave engineers their first detailed view of an undamaged heat shield after reentry.

"This is the softest splashdown we have ever had with the Starship there in the Indian Ocean," Dan Huot, communications manager at SpaceX, said on a livestream, adding, "I'm a little over the moon right now. Wow. Lucky number 13. Hell of a great day for Starship." 

Splashdown confirmed! Congratulations to the entire SpaceX team on the 13th flight test of Starship! pic.twitter.com/g27YJCQgiN

— SpaceX (@SpaceX) July 24, 2026

In a statement after the test flight, SpaceX said the booster landing "attempted to relight its engines for the landing burn," but only a subset successfully ignited before the "hard splashdown," adding that the upper stage of the rocket made a "soft splashdown" in the Indian Ocean. It noted that Starship came "to rest intact in the Indian Ocean and providing critical views of an intact heatshield for the first time."

Latest coverage:

• SpaceX Reportedly Turns Away Falcon Customers As Starship Gamble Comes Into Focus
• SpaceX Starship Flight 13 Launch Scrubbed At The Last Second

SpaceX stock and bonds:

• SpaceX Rebounds From Near-50% Rout As Starship Launch Catalyst Nears
• SpaceX Shares Fall Below $135 IPO Price, But The Real Story Is Its Bonds

When will SpaceX hit bottom?

The test advances SpaceX's plans to expand Starlink, develop orbital data centers and support NASA missions to the moon.

Tyler Durden Sat, 07/25/2026 - 11:05

US Sanctions UK-Based Senior Muslim Brotherhood Leader Over Alleged Hamas Support

The United States has sanctioned a senior UK-based Egyptian Muslim Brotherhood (MB) official alongside six other individuals and entities that it said provided material support to terrorist group Hamas.

State Department spokesperson Tommy Pigott said on July 23 that the action exposes MB affiliates and “Hamas-directed front organizations that use charitable facades and underground networks to disguise and move funds in support of terrorism.”

As Evgenia Filimianova reports via The Epoch Times, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) identified Mahmoud al-Abyari as one of the sanctioned individuals, describing him as the UK-based secretary general of the Muslim Brotherhood General Secretariat.

OFAC said al-Abyari helped raise funds for two organizations it had previously sanctioned over alleged Hamas ties—Filistin Vakfi and Hayat Yolu—and worked with MB groups to provide financial support to Hamas.

Two charities were also named, including Indonesia-based Tujah Bulah Global and Gaza-based Madad Palestine Charitable Society.

A Turkey-based money exchange rounded out the list. Treasury said El-Kahira for General Trading transferred hundreds of thousands of dollars to Hamas and separately provided underground banking services to organized crime groups in Sweden.

OFAC also designated three men connected to the firm: the owner, Khuldun Khamis Zakaria Alden, and shareholders Zaid Issam Ahmed Al-Jebouri and Abdullah Issam Ahmad Al-Jebouri.

“The Trump Administration will relentlessly pursue terrorists and those who finance them,” said Treasury Secretary Scott Bessent.

“Whether operating under the guise of charities, businesses, or underground financial networks, those who enable Hamas will be exposed, sanctioned, and held accountable.”

The measures build on designations announced in January and March that targeted Hamas financial facilitators, operatives, and MB-linked charities.

Pigott said on July 23 that Washington is “committed to dismantling the financial infrastructure that sustains Hamas and the MB.”

Treasury Secretary Scott Bessent speaks during a press briefing at the White House on May 28, 2026. Madalina Kilroy/The Epoch Times

The sanctions freeze any property and interests in property of the designated individuals and entities that are in the United States or under the control of U.S. persons. The measures also expose foreign financial institutions to potential secondary sanctions if they knowingly facilitate significant transactions on behalf of sanctioned persons.

Different Approach

The latest U.S. action highlights a policy difference between Washington and London.

The Treasury designated the Egyptian, Jordanian, and Lebanese branches of the MB as specially designated global terrorists in January 2026 for providing material support to Hamas.

The MB has been designated a terrorist organization by Egypt, Saudi Arabia, the United Arab Emirates, and Bahrain. Jordan outlawed the movement in 2025.

The UK has not proscribed the organization. The UK produced a review of the MB in 2015, which concluded that membership of, association with, or influence by the MB should be regarded as “a possible indicator of extremism.”

It said, however, that these factors alone were not sufficient to justify legal action. Downing Street also found that parts of the movement had used or supported violence in some countries, but stopped short of recommending a ban.

Former UK Commissioner for Countering Extremism Robin Simcox said the United States has taken a more robust approach than London toward MB networks operating in the UK.

Speaking during a Foundation for Defense of Democracies program on July 17, Simcox said, “This is a UK problem first and foremost, and we are not dealing with it in anything like the seriousness that the United States is, and that’s a major problem.”

Simcox said the British government, police, and security services have not considered the MB a sufficiently high priority compared with other terrorist threats.

He described that approach as “a massive strategic mistake” and said he hopes the latest U.S. measures will encourage the UK to revisit the issue.

The Epoch Times reached out to the UK Home Office for comment but didn’t receive a response by publication time.

Tyler Durden Sat, 07/25/2026 - 09:55

Ukraine's Drone Campaign Against The 'Russian Amazon' Is Driven By Political Motives

Authored by Andrew Korybko,

The goal is to create a growing class of malcontents by inflicting major harm to small business owners who might then shift the electoral odds against the ruling party ahead of September’s next elections and later possibly form the core of a future protest movement that could be exploited from abroad.

Ukraine’s US-assisted long-range drone campaign against Russia has recently begun targeting the country’s online retailer Wildberries, which is essentially the “Russian Amazon”, with recent strikes either totally destroying or greatly damaging several of its logistics centers. The Financial Times cited Russia’s edition of Forbes to report that these attacks might have already destroyed 150-275 billion rubles’ worth of inventory thus far, equivalent to around $2-3.5 billion, or more than Wildberries’ net profit last year.

They also importantly cited Alexander Kolyandr, a director at Eurasia Group, who told them that “The loss of the goods will put thousands of traders out of business, resulting in unpaid taxes, defaulted loans and the like.” Therein lies the political motive behind Ukraine’s drone campaign against the “Russian Amazon”. Zelensky announced a 40-day influence operation against Russia late last month with the objective of coercing it into a ceasefire without any concessions from Ukraine or its Western patrons.

It’ll formally end in early August, so nearly six weeks before the next Duma elections in late September, the first since the special operation began as the last ones were in 2021. His influence operation will likely be extended, however, even if only informally. With this political context in mind as well as the explicitly stated goal that he aims to achieve, it’s clear that Zelensky authorized his forces to do whatever they can to maximally inconvenience average Russians for the purpose of turning them against Putin.

This explains the prior spree of strikes against Russian energy infrastructure, which led to a spike in fuel costs that Ukraine expected would raise prices across the board due to higher transport costs for slashing average Russians’ disposable income, and the Wildberries campaign is the next phase. Harming small businesses more directly affects average Russians, both buyers and of course sellers, and the particular intent appears to be to create a new and growing class of malcontents within the country.

If taken to its extreme, and it’s possible that more logistics centers will be targeted and at least damaged since 18 of the 20 largest in Russia are reportedly within range of Ukrainian drones, this could have long-term socio-political and economic consequences for Russia. The state, which is already under financial strain due to the combination of sanctions, attacks against its energy infrastructure, and the recent large-scale destruction of small business’ taxable inventory, might thus be pressured to bail them out.

Inadequate support for struggling small business owners could shift the electoral odds against the ruling party in what would then be spun as a symbolic setback to Putin, create the earlier mentioned class of malcontents, and thus possibly rekindle long-dormant protest potential that could be exploited from abroad. The consequences could therefore cascade in the worst-case, which admittedly isn’t likely since the state still has time to avert it, so it’s premature to expect this yet it also shouldn’t be ruled out either.

The larger trend is that Ukraine’s spree of strikes against Russia is gradually evolving from showmanship into strategy, assisted as it’s been by the US, which provides targeting intelligence and overall guidance to its proxy. “Trump 2.0’s Escalation Strategy Against Russia Is Starting To Take Shape”, and it’s centered on a “war of attrition” that’s now setting its sights on largely civilian targets like Wildberries, the aim of which is to advance political goals that are in any case unlikely to get Putin to declare a ceasefire.

Tyler Durden Sat, 07/25/2026 - 09:20

 

 

This week, I speak with Lori Heinel, Global Chief Investment Officer at State Street Investment Management. We discuss her unlikely journey from majoring in religious studies at Princeton to working in finance and investing.

She tells us about her role as CIO at State Street and how she balances active and passive management views. The case for private markets’ involvements in 401(k)s also comnes up as how Lori sees AI affecting her business managing trillions of dollars worth of assets.

Lori’s current reading includes two by Ron Chernow: “The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance” and “Titan: The Life of John D. Rockefeller, Sr.” as well as “Steve Jobs” by Walter Isaacson.

A transcript of our conversation is available here Monday..

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

Be sure to check out our Masters in Business next week with Som Seif Purpose Investments, founder/CEO, Toronto-based asset manager launched in 2012. He grew his first firm, Claymore Investments to $8B in assets by creating 34 ETFs over 6 years, establishing it as Canada’s leader in low-cost exchange-traded funds; he sold to BlackRock in 2012. Next, he co-founded Wealthsimple, which became the default investing app for a generation of Canadians. His wealth management firm, Purpose, was founded at the end of 2012, and manages>$31B in ETFs, mutual funds, alternatives, private assets, and digital assets. Som was named to Canada’s Top 40 Under 40 in 2011.

 

 

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