Individual Economists

10 Wednesday AM Reads

The Big Picture -

My mid-week morning reads:

• The 20 highest-paying jobs in America? Doctors, doctors, more doctors. Doctors earn more than any other broad category of worker, according to federal data: More than engineers. More than computer scientists. More, even, than lawyers. To find a better-paid group than doctors, economists say, you have to drill down to elite subcategories, such as corporate CEOs and law partners. The average partner at a large firm earns more than $1.4 million a year. The typical S&P 500 CEO pulled down $17 million in 2024. Med school remains the trade of kings. (USA Today)

• This Will Have Been a Golden Age for Investors: Kyla Scanlon makes the case that we’re living through an extraordinary period for capital markets—and most people are too anxious to notice. (Kyla Scanlon) see also Active vs. Passive Fund Performance: When Do Active Managers Win? While passive funds dominated in 2025, strong active investing opportunities still exist. (Morningstar)

• Chevy built an all-American EV truck — why is nobody buying it? The Silverado EV drives, well, almost like a car. Yet the bed is massive, its frunk, cavernous. The back seat has enough room for me to cross my cursedly long legs, and the cabin is quiet. It’ll power your house in case of a hurricane, and it’ll haul, tow, and navigate down the freeway without a finger on the steering wheel. Plus it travels over 400 miles on a charge. That should be a dream combination for an American pickup lover. What happens when product, price, and politics collide. (TechCrunch)

• About Those High Egg Prices (The Washington Monthly Was Right):  Much of the press believed The 2022-25 spike in egg prices was mere supply and demand. Now that the industry has settled with DOJ and state AGs, our suspicions proved warranted.  that dominant egg corporations may be manipulating a price index tied to most commercial egg contracts. On Monday, the Department of Justice and a group of bipartisan state attorneys general agreed. They concluded a months-long investigation into companies like Cal-Maine, alleging that these corporations colluded to exploit the bird flu crisis and drive up egg prices, cheating consumers. Cal-Maine, Hickman’s Egg Ranch, and Versova will donate 53 million eggs to food banks and pay up to $3.3 million to state attorneys general. (Washington Monthly)

• Always-On AI Is Coming: Quiet, My Exoself : Someday real soon, most of us — starting with young adults — will carry an always-on AI. This agent will help us navigate our journeys, answer our questions, tutor and teach us new skills, remember people we have met before, remind us of what we once knew before, offer advice and recommendations, do simple errands, and remember everything we say and do. Before long, it will know us better than we know ourselves. It will be our exoself. Kevin Kelly on quieting the exoself — the digital shadow that follows us everywhere and won’t shut up. (Kevin Kelly)

• This little blue dot on your phone is revolutionary: U.S. policy used to jam up GPS. Now, those signals beam into your pocket. WaPo on the little blue dot: GPS on your phone is quietly one of the most revolutionary technologies ever shipped. (Washington Post)

• What’s inside the one bill Trump most desperately wants to become law: A sweeping set of national requirements for voters. An empowered DHS. What would happen if the SAVE America Act passed? (Vox) see also Supreme Court’s dramatic moves will reshape elections — and give the GOP a midterm boost: The timing and speed of the justices’ moves are all but unprecedented in recent years, legal experts said. Republicans are expected to reap the most rewards. WaPo on the Supreme Court’s election-law rulings and how they tilt the midterm map toward one party. Structural advantages compound. (Washington Post)

• As the Pentagon stays quiet, AP reconstructs a US strike that killed over 100 Iranian children: The Feb. 28 attack on a primary school in southeastern Iran was the deadliest reported strike in the U.S.-Israeli war against Iran (Washington Post)

• Six Years After the First COVID-19 mRNA Vaccines, Billions of Doses Clarify Their Protection and Rare Risks: Learn how mRNA vaccines work, why serious risks remain rare, and how the technology could be used beyond COVID-19. (Discover) see also CDC Won’t Publish Report Showing COVID Shots Cut Likelihood of Hospital Visits: A CDC report on vaccine effectiveness, previously delayed by agency leadership, is now being blocked from publication entirely. (Washington Post)

• The United States’ dream didn’t die. It was overturned: The red card wasn’t overturned; that would have required admitting an error. The suspension was put on suspension, through the magic of a clause buried in the organization’s disciplinary code. Initially, FIFA announced the decision in such a skeletal manner that the world knew it was hiding a body. On match day, Trump stood before reporters at the White House, and after trying to deflect his role, he talked until it was clear that he applied pressure. The Athletic on the U.S. World Cup exit to Belgium — the dream didn’t die, it was overturned. (The Athletic)

Video of the day: Mystery Billionaire Builds $425 Million Estate in Hamptons.

 

Be sure to check out our bonus episode of Master’s in Business with David Risher, CEO of Lyft, one of North America’s largest ride-sharing networks. He joined Lyft’s board in 2021 when the firm was burning cash and losing ground to Uber. Lyft has returned to profitability, with its stock rising more than 75% since Risher took the reins as CEO in 2023. In Q1 2026, the firm had 28.3 million active riders and did $4.9B in gross bookings, with $1.7B revs, and $132.8m in EBITDA. Previously, he held senior roles at Microsoft and Amazon.

 

America at 50, 100, 150, 200 & 250

Source: Bruce Melhman

 

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

Spain: 70% Of Tested 'Unaccompanied Minor' Immigrants Are Actually Adults

Zero Hedge -

Spain: 70% Of Tested 'Unaccompanied Minor' Immigrants Are Actually Adults

Via Remix News,

The Spanish city of Madrid has delivered a stark confirmation of long-standing suspicions about unaccompanied foreign immigrants claiming to be minors. When this group undergoes rigorous medical age verification, 70 percent turn out to be adults over 18.

This is not a handful of isolated incidents but a systemic pattern that has become the norm in Spain’s capital. The findings, detailed in official data and reported by Spanish outlet El Debate, underscore a growing “farce” in the handling of unaccompanied minor claims across the country.

In 2024, authorities in the Madrid region opened 848 age-determination proceedings for individuals claiming to be unaccompanied foreign minors — a sharp increase from 482 the previous year. More than half of these cases were archived because the claimants abandoned the process before completing the key medical test, which is a wrist X-ray for bone age assessment.

Of the 378 individuals who underwent the test, only 112 were confirmed as minors, while 266 were determined to be adults — approximately 70 percent.

The number of detected frauds tripled compared to the prior year. Since 2018, Madrid has handled more than 11,000 unaccompanied foreign minors in its protection system. In 2024 alone, 2,442 new young people entered the system. The regional government has already filed 29 police complaints after its own checks revealed adults improperly placed in minor-protection facilities.

Nationally, the Fiscalía General del Estado reported 7,562 pre-procedural age-determination cases in 2024. Of these, 2,457 concluded the individuals were adults, while many others either abandoned proceedings or received the benefit of the doubt.

Real benefits for fraud

As Remix News has reported in the past, claiming minor status grants significant advantages under Spanish and EU rules, including placement in specialized protection centers with housing, education, healthcare, and legal safeguards.

There is also significantly greater difficulty in deportation; and, in many cases, pathways to family reunification or residence permits unavailable to adults. Many claimants disappear from centers once age verification begins, avoiding confirmation of their true age.

Similar fraud seen across Europe

This Madrid revelation is far from unique. Remix News has extensively covered parallel cases of age fraud by migrants claiming unaccompanied minor status throughout Europe, often involving the same nationalities, notably Algerians, Moroccans, Tunisians, and Afghans.

France has seen some of the starkest figures. In the Marne department, bone analyses of 240 individuals claiming to be unaccompanied minors found that 80 percent (192 people) were actually adults.

French MP Charles de Courson highlighted the financial burden in a parliamentary speech, “Eighty percent of unaccompanied migrants in France’s northeast Marne department who declared themselves thus are not minors, with the cost of caring for these 160 false minors costing €5,000 per month, which equals for €60,000 per year for each one.”

A separate 2019 experiment by the Paris prosecutor’s office examined 154 formally identified “minors” and found 91.6 percent (141) were adults via medical exams. Prosecutors noted that adults were systematically exploiting the protective regime established for minors under a 1945 law.

Belgium reported comparable results. A study of data from Justice Minister Koen Geens showed that of 4,563 migrants declaring themselves minors, authorities doubted 2,546 claims. Age tests on a sample revealed that 73.7 percent were over 18. Flemish MP Tom Van Grieken stated bluntly: “Asylum seekers guilty of age fraud should be denied the right to asylum.”

Sweden recorded an even higher rate: health authorities found 84 percent of tested “child migrants” were actually 18 or older. In Germany, forensic examinations in Münster showed around 40 percent of examined “unaccompanied minor refugees” were demonstrably adults, with many sharing suspicious January 1 birthdates — a common indicator of fabricated identities.

Remix News has also documented specific incidents in Spain itself that align with this pattern. In one Madrid case reported in October 2025, a Moroccan man accused of raping a 14-year-old girl claimed to be 17; age verification determined he was likely 23, with 14 prior convictions, leading to his case being transferred to adult court.

A European Parliament fact-finding mission to Spain’s Canary Islands similarly found that roughly half of unaccompanied minors there were actually adults, highlighting failures in age assessment amid high illegal arrivals.

An issue across Europe

Across Europe, the incentive structure remains largely unchanged, with minor status providing immediate protection and resources while adult status often leads to faster removal proceedings. Medical tests, such as bone density, dental, or wrist X-rays, are imperfect but consistently reveal high fraud rates when applied. Some countries are reacting with stricter testing, but often left-wing parties want to ban such tests altogether.

The Madrid Fiscalía’s 2024 data adds Spain to the growing list of European jurisdictions where official statistics confirm that the “unaccompanied minor” category is being heavily exploited. With over 11,000 cases handled in Madrid alone since 2018 and frauds tripling in a single year, the scale suggests the problem is not anecdotal but structural.

As European governments grapple with migration pressures, these consistent findings from across Europe show a reality that is not going away. Without adequate and robust testing age verification and meaningful consequences for fraud, the EU system will continue to reward deception from Europe’s rapidly growing illegal migrant population.

Read more here...

Tyler Durden Wed, 07/08/2026 - 05:00

Trump Signals Willingness To Sell Turkey F-35 Jets Despite Loud Netanyahu Protests

Zero Hedge -

Trump Signals Willingness To Sell Turkey F-35 Jets Despite Loud Netanyahu Protests

Israel and Turkey are in a bit of a tug-of-war with President Trump and potential major arms deals hanging in the balance. Israeli Prime Minister Benjamin Netanyahu had vehemently complained to Trump in a Friday call about Turkish President Recep Tayyip Erdoğan's escalating anti-Israel rhetoric, officials cited in Axios said.

Netanyahu specifically pressed Trump block sales of weapons systems to Turkey, especially those that would help Turkey modernize its air force. Of central issue remains potential F-35 transfer, which if carried through would outrage Israeli leaders. Turkey was blocked from the program in 2019 after the NATO member state went through with acquiring Russia's S-400 air defense system on fears that the US advanced fighter jets classified systems could be compromised.

via Associated Press

Also central to current negotiations with Washington is a $700 million deal for new engines for Turkey's fighter jets. Turkey's welcome ceremony for Trump and his entourage was expectedly lavish, complete with honor guards and military bands, and even cannons firing.

Erdogan has said that Trump is adding "might and strength" to the summit. Trump has in turn said of the Turkish president, "We are great friends" - and extolled the beauty of Turkey's modernized infrastructure. Turkey is a country to be "reckoned" with, Trump said soon after touching down, "and the nice part is that because of the relationship that we have, it’s all gone very well."

Most importantly, Trump, signaled his intent to sell Turkey F-35 fighter jets, per CNN:

US President Donald Trump said he would soon decide whether to sell Turkey F-35 fighter jets despite a Congressional ban as he praised the country as more loyal than other recipients of the plane.

"We have a better relationship with Turkey, and Turkey has been in many ways much more loyal than other countries that we think would be loyal," Trump said, arguing many believe the country should be able to purchase the F-35s, despite its purchase of a Russian air defense system.

Trump said the sales are "something certainly we consider."

"It’s a great plane, it’s the best, currently the best plane by far, and certainly something we will consider," he said.

This is after prior reporting indicated that "US officials told CNN earlier that Trump is expected to signal this week that he is willing to sell the country F-35s, reversing a ban he put in place during his first term that has since been ratified into law." Erdogan has newly stated that Turkey has been promised five F-35 jets.

However, getting around the congressional ban remains to be seen. But Trump said enough in Ankara on Tuesday to put the Israelis on edge. 

Netanyahu told Fox News on Monday that "Turkey is a great country, but it's governed by a man who calls openly for the annihilation of Israel" - in reference to Erdogan. "He occupies half of Cyprus, a NATO country. He's threatening Greece, another NATO country, and he talks openly about conquering Jerusalem."

The Israeli leader also said that giving Ankara F-35s or fighter jet engines would "upset the power balance in the Middle East, which is ultimately guaranteed by Israeli air superiority and also by, I think, by America's posture in the Middle East."

Turkey is also seen as supportive of the new Sharaa government in Damascus, at a moment Israeli forces are occupying portions of southern Syria. The two rival powers have nearly directly clashed at times over their competing Syria policies.

    Tyler Durden Wed, 07/08/2026 - 04:15

    Watch: MEP Forces EU To Address Wave Of Savage Migrant Attacks Throughout Europe

    Zero Hedge -

    Watch: MEP Forces EU To Address Wave Of Savage Migrant Attacks Throughout Europe

    Authored by Steve Watson via Modernity News,

    In a decisive move highlighting the growing crisis of migrant violence across Europe, Sweden Democrats MEP Charlie Weimers has successfully pushed the European Parliament to debate recent fatal attacks on native Europeans, and their direct implications for public security on the streets.

    Weimers' intervention comes in the immediate wake of the savage beating death of 32-year-old Swedish father Christian Zedig, ensuring the tragedy cannot be swept aside as just another "isolated incident" by those invested in open borders policies.

    Weimers delivered a stark address to the chamber, laying bare the human cost:

    "In recent days, Europe has once again been reminded of the very real threats to public security on our streets. In Copenhagen, Swedish police officer Christian Zedig, a 32-year-old father of two, was brutally beaten to death at a world cup fan zone," Weimers urged.

    He continued, "He was off duty, simply watching a match with friends, when he tried to calm a situation, he was attacked and stomped to death. In Milan Italy, a Gambian migrant stabbed an innocent man 20 times. He said it was for fun, and that he would do it again when he gets out. These are not isolated incidents, they are part of a broader pattern that is undermining the safety of ordinary Europeans."

    His words cut through the usual parliamentary fog, naming the pattern that too many officials prefer to obscure. The debate, later today will addresses the urgent need to confront how unchecked migration is eroding safety in European cities and public spaces.

    Weimers expressed astonishment that Swedish Social Democrats voted against even holding the discussion, posting the voting record as evidence. This reluctance speaks volumes about priorities: shielding failed migration policies over acknowledging the suffering of ordinary citizens and their families.

    The Zedig family's nightmare began at a seemingly ordinary World Cup fan zone in Copenhagen's Islands Brygge area. Christian had traveled with friends to watch Norway face Ivory Coast before Sweden's own match. Wearing his national team shirt, he was enjoying the atmosphere when violence erupted.

    A group of seven or eight young African men, according to eyewitnesses speaking to Danish media, arrived not to watch football but to provoke. They taunted supporters, threw beer and objects after Norway's late winning goal by Erling Haaland, then rushed a table of Scandinavian fans.

    Zedig was punched in the head, collapsed immediately, and was then repeatedly stomped by multiple attackers while lying defenseless on the ground. The assailants fled the scene. Despite medical efforts, Zedig succumbed to his catastrophic injuries, leaving behind a devastated wife and two young daughters who will grow up without their father. Swedish police confirmed the death of their colleague, with local officers holding a memorial gathering.

    His sister's emotional tribute captured the family's anguish: "My beautiful and thoroughly good-hearted brother. How will we make it without you with us? Who gave them the right to take you away from us? The grief is never-ending." Friends and colleagues described him as a dedicated officer and family man, making the senseless loss even more painful.

    The main suspect, identified as an African migrant with a history of prior assaults and criminal convictions, eventually turned himself in to Danish police after authorities publicly released his photograph. He was arrested and remanded in custody for up to 26 days. While the formal charge had not yet been upgraded to murder at the time of initial proceedings, the facts of the mob attack speak for themselves.

    This horror is the latest in a string of incidents that Weimers and like-minded MEPs have been warning about for years.

    Media handling of the tragedy has only added fuel to public anger. Danish broadcaster TV2 aired live footage of a minute of silence held for Zedig before the later Norway-Brazil match at the same fan zone. The clip reportedly captured migrants ignoring the tribute or even laughing.

    When the segment re-aired in a news broadcast, those seconds were conveniently edited out, shielding viewers from the disrespect.

    Weimers has consistently exposed the consequences of mass immigration and demographic shifts. In March, alongside other lawmakers, he helped spotlight the spread of no-go zones tied to rapid Islamization and uncontrolled inflows.

    A New Direction report analyzed high-crime neighborhoods across Europe, ranking areas like Franc Moisin in France and Rosengård in Malmö by metrics of violence, parallel societies, unemployment, school failure, and emergency service breakdowns. These zones show strong correlations with high shares of foreign-born and Muslim populations, where state authority recedes and other rules prevail.

    French MEP Marion Maréchal emphasized the data: France alone has hundreds of sensitive urban areas disproportionately linked to these dynamics. The report serves as a documented indictment of policies that have allowed parallel societies to flourish.

    At a Warsaw conference around the same time, experts warned bluntly that Europeans are committing demographic suicide. Low native birth rates combined with high migration from younger, culturally distant populations create unsustainable pressures.

    Outdated tools like the Geneva Convention were called "sacred cows" in need of reform, with calls to renationalize asylum and migration policy to restore national control. Speakers contrasted thriving, cohesive Polish cities with decaying Western European examples overwhelmed by crime and social breakdown.

    Despite institutional resistance, conservative and sovereignist forces have scored tangible victories. The European Parliament backed major updates to the Returns Regulation, a breakthrough expanding deportation powers, mutual recognition of orders across member states, longer detention periods, extended entry bans, and possibilities for return hubs outside EU territory.

    Weimers described stricter return rules as one of the Sweden Democrats' biggest negotiating successes, declaring "the era of deportations has begun."

    Italian PM Giorgia Meloni welcomed the changes as validation of her government's approach. Other leaders from the right celebrated the shift toward enforcement and national sovereignty over Brussels dictates.

    Leftist reactions included chants of "shame" met with counter-chants of "send them back," followed by complaints about conservatives celebrating the win with a rooftop gathering - moments of dark comedy amid the stakes.

    These advances prove that persistent advocacy can shift policy, even if implementation lags and globalist pushback - from the UN and others - continues. Yet incidents like Zedig's murder demonstrate why speed matters. Return rates remain abysmal under old rules, allowing repeat offenders and unintegrated migrants to remain threats.

    Zedig's death is tragically familiar. From stabbings to grooming scandals, rioting, and everyday street violence, the data on overrepresentation in crime statistics across Western Europe is inescapable for those willing to examine it. Fan zones, once symbols of shared celebration, now risk becoming flashpoints due to imported rivalries and lack of respect for host societies.

    Weimers' Rule 164 initiative forces the Parliament to address implications head-on: rising insecurity, strained police resources, cultural fragmentation, and the demographic trajectory that amplifies risks. Ignoring it invites more tragedy and deeper societal division.

    Europe stands at a crossroads. Decades of elite-driven mass immigration without regard for compatibility, numbers, or enforcement have produced predictable results: overburdened welfare systems, no-go areas, terror threats, and innocent victims. Families torn apart, communities on edge, and taxpayers funding the consequences.

    The successes on remigration tools offer hope, but only if national governments wield them aggressively. Weimers and allies are dragging the conversation toward reality - prioritizing citizens' safety, cultural cohesion, and sovereignty. The votes against even debating the matter reveals who still clings to denial.

    As the Parliament convenes, the message is clear: enough is enough. Europeans deserve leaders who secure borders, enforce returns, and put their own people first. The era of looking the other way must end.

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

    Tyler Durden Wed, 07/08/2026 - 03:30

    Rutte Touts 'Literally Billions' Invested To Drastically Ramp Up NATO's Drone Capabilities

    Zero Hedge -

    Rutte Touts 'Literally Billions' Invested To Drastically Ramp Up NATO's Drone Capabilities

    NATO leadership has this week made clear where it plans to invest a bulk of defense and tech-related funds in the coming years, while making express reference to lessons learned from the Russia-Ukraine battlefield.

    The alliance's Secretary General Mark Rutte said Tuesday that drone warfare is the next great expanse in NATO capabilities. He touted that member states are unveiling "major new projects" worth "literally billions of dollars" at the Ankara summit. "These are billions that are invested in our security, boosting our economies and supporting hundreds of thousands of new jobs," Rutte stated. "It’s money well spent."

    Anadolu Agency

    He unveiled that among the projects include the NATO future procurement of five "high-end, high-altitude and long-endurance uncrewed aircraft" from Northrop Grumman.

    Defense News reviews:

    Built by Northrop Grumman, the MQ-4C Triton is a high-altitude, long-endurance UAV specifically designed for maritime surveillance over vast stretches of sea.

    According to Rutte, the aircraft will help NATO detect threats early, protect sea lines of communication, and support operations in demanding regions, such as the High North. "These aircraft can fly for long periods at high altitude and cover large areas, including over open water, more efficiently than most other aircraft can," he said at the event, organized to coincide with the NATO summit this week.

    Rutte stressed that intelligence, surveillance and reconnaissance (ISR) is a vital capability for the alliance, as it provides the situational awareness needed to make the right decisions and stay ahead of threats. "Today, allies are taking a concrete step to strengthen this capability," he added.

    An additional project area outlined by Rutte involves 40 billion dollars' worth of investment in "counter-drone capabilities over the next five years," the alliance additionally said in a statement.

    Another drone-focused initiative is a goal for allies to "train five times as many drone operators by the end of 2027." This is where the Ukraine experience seems to have deeply informed NATO doctrine and direction. 

    "Drones have fundamentally altered the character of modern warfare and become a decisive factor on the battlefield," the alliance said in its statement. "These initiatives will be essential to increase both Alliance readiness and resilience."

    Western backers of the Zelensky government have of late been hailing the effectiveness of Ukraine forces' long-range drone strikes, which have often devastated major Russian refineries and energy infrastructure.

    At the same time NATO officials are seeking to make a positive impression on President Trump, after he's long demanded the alliance collectively raise the bar much higher on defense investment and spending. All of this could kick the can further in terms of needless escalation with Russia - especially the ongoing support to Ukraine's long-range drones and missiles, which are being sent deeper and deeper into Russian territory.

    Tyler Durden Wed, 07/08/2026 - 02:45

    What Future Awaits Ukrainian Military-Aged Male Refugees In The EU?

    Zero Hedge -

    What Future Awaits Ukrainian Military-Aged Male Refugees In The EU?

    Authored by Andrew Korybko,

    Recent moves at the European and national levels bode ill for them...

    The European Commission proposed to exclude new military-aged Ukrainian men from the bloc’s special refugee protection scheme per Ukraine’s request to help replenish its lost forces. For background, new Ukrainian Defense Minister Mikhail Fedorov shockingly revealed in January that 200,000 men have already deserted thus far and ten times more (2 million) are actively dodging the draft. Moreover, adult men comprise 26% of the 4.3 million Ukrainians in the EU for another one million potential conscripts.

    The forcible conscription policy known as “busification”, which refers to capturing military-aged men off the street and throwing them into minibuses that then take them straight to local training centers and finally the frontlines, is wildly unpopular and increasingly being resisted by the population. It’s therefore much easier for the EU to deport ineligible military-aged men that flee to the bloc going forward, but the ideal solution from Ukraine’s perspective is for all those that are already there to be deported as well.

    Denmark is planning to do precisely that. According to RT, “The Danish authorities want to amend a special law passed in 2022 to make Ukrainian men aged 23 to 60 ineligible for temporary residence permits unless they have been granted an exemption from military service. Ukrainian men under 23 would only be granted residence permits until they reach draft age.” Less than 50,000 Ukrainians have residence permits under this law, and maybe one-quarter are adult males, but it would still be symbolic.

    Other countries could potentially follow Denmark’s lead on the basis that they too, as explained by the Danish Immigration Minister, “never intended for our residence rules to be used to avoid mobilization into the Ukrainian Armed Forces. Doing so undermines Ukraine’s war effort and weakens the country’s ability to defend itself against Russian attacks.” Amidst the spiraling Polish-Ukrainian dispute over Zelensky’s state glorification of the Volhynia Genocide’s OUN-UPA culprits, all eyes are on Warsaw.

    The ruling liberal coalition, like the conservative government that it replaced in late 2023, appears to be in favor of retaining special privileges for adult Ukrainian males for alleged economic reasons. Be that as it may, the conservatives have recently soured on Ukraine and its refugees, nowadays signaling that they might be open to deporting some of them. While that would help Ukraine against Russia like Poland has always sought to do, it would also be doing Zelensky’s bidding, so they might reconsider their support.

    Likewise, the Ukrainophilic liberal coalition might sacrifice the alleged economic benefits that Poland receives from adult Ukrainian male refugees by deporting them, albeit with the purpose of pleasing Zelensky and perhaps as an “olive branch” amidst the conservative president’s feud with him. It’s too early to tell what this group’s future in Poland might be, but the scenario of at least some of them being deported can’t be ruled out, which could help the liberals ahead of fall 2027’s next Sejm elections.

    As Ukraine continues to lose ground along the front, which the dramatic visuals from its recent spree of strikes against Russia is aimed in part at distracting the global public from, Kiev is expected to ramp up its pressure campaign against the EU – and particularly Poland – to obtain more meat for the grinder.

    Trump’s plans of “escalating to de-escalate” with Russia through an intense “war of attrition” require the replenishment of Ukraine’s forces, so if “busification” doesn’t suffice, then this is the only fallback plan.

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

    Tyler Durden Wed, 07/08/2026 - 02:00

    "F**k The USA": Professor Delights Chicago Crowd With Anti-American And Anti-Border Rant

    Zero Hedge -

    "F**k The USA": Professor Delights Chicago Crowd With Anti-American And Anti-Border Rant

    Authored by Jonathan Turley via jonathanturley.org,

    I have previously written about the "radical chic" in higher education of faculty members who espouse extremist views in departments purged of conservative, libertarian, or moderate voices. While it is virtually impossible to get departments to seriously consider a mainstream conservative or libertarian, schools like Princeton eagerly hire professors such as Keeanga-Yamahtta Taylor, who recently delighted a Chicago audience with an unhinged rant against the United States and the concept of a nation-state.

    Bill Ayers and Princeton's Keeanga-Yamahtta Taylor appeared at a July 4th event and denounced the country and its anniversary.

    Taylor thrilled the crowd by recounting her disgust that a woman gave her child an American flag at the airport. She credited herself by not instantly burning it, but went on to denounce the country and credited the audience for its "F**k the U.S." attitude.

    Notably, Taylor suggested that only fools rally behind the flag or the notion of a nation-state. She clearly believes not just in open borders but rejects the very concept of borders. She repeatedly declared that "borders kill" and suggested that patriotic people are simply dupes.

    Bill Ayers is a former professor and one of the founders of the domestic terrorist organization, the Weather Underground. His wife, Bernardine Dohrn, was also a member of the group, and both were fugitives for several years. Dohrn is also a professor who has taught at Northwestern University School of Law.

    Taylor is a Professor in the Department of African-American Studies at Princeton University. She writes for the New Yorker.

    In the Chicago event, Taylor called on others to reject "the idea of loving a nation state, which is what patriotism is." She repeatedly returned to the theme that borders are "deadly" and "borders kill people." She explained that we have to erase any borders because they are "a tool of death and destruction."

    Furthermore, she emphasized that the very concept of a nation-state should be the "object of political struggle."

    This reflects the level of intellectual rigor in departments like the one at Princeton. Her writings have been honored by the Marguerite Casey Foundation and Group Health Foundation, the Organization of American Historians, and the John Simon Guggenheim Memorial Foundation (which gave her a fellowship).

    On one level, the erasure of borders could be viewed as the "withering away of the state" espoused by Friedrich Engels and later by Vladimir Lenin. However, it reads more like the jargonistic narrative common in higher education, where radicals espouse such views without serious challenge from their colleagues.

    Even European states that once allowed expanded undocumented migration are now struggling to reverse course due to the high social and security costs. However, academics such as Taylor tell students that we can eradicate any nation-states and live without borders. While most people would expect such views to be espoused by raving lunatics on the subway, Princeton made her a chair professor as the Hughes-Rogers Professor of African American Studies.

    Her writings are celebrated for her combination of socialism and identity politics. The gushing articles even include praise for her use of emojis. ("All those cry-laughing yellow orbs betrayed a critic with a sense of humor.").

    Few colleagues or critics feel comfortable noting that views like the eradication of the nation-state or erasure of borders are little more than unsupported, jargon-saturated tripe. There is no effort to push her on what happens to an economy without borders where the country (or whatever will replace the nation-state) is responsible for supporting millions of immigrants.

    When you hear young socialists in the Mamdani Administration (including Mamdani himself) speaking of "seizing the means of production," it is the result of college classes taught by figures like Taylor, who offer little more than shallow sound bites and slogans. They have been told that socialism is a successful economic model despite its utter failure historically. It is a fable told by the uninformed to the unquestioning: unicorn economics, eagerly embraced like a bedtime story.

    The alternative is what I have called the "liberty-enhancing economy" that the Framers embraced. The combination of political and economic freedom made this republic the greatest engine of prosperity and human rights in history. That does not mean that we do not have difficult economic and social problems. However, the suggestion that we should embrace socialism and erase borders is properly viewed as perfectly bonkers ... outside of higher education.

    Jonathan Turley is a law professor and the New York Times best-selling author of "Rage and the Republic: The Unfinished Story of the American Revolution."

    Tyler Durden Tue, 07/07/2026 - 23:25

    Bill Clinton Insider Warns Of Socialist Takeover, Calls For Probe Into Possible DSA Foreign Ties

    Zero Hedge -

    Bill Clinton Insider Warns Of Socialist Takeover, Calls For Probe Into Possible DSA Foreign Ties

    Mark Penn, the former chief White House pollster and strategic advisor to President Bill Clinton for six years, used a Wall Street Journal op-ed titled "The Socialist Threat Is Real" to warn that far-left radicals are hijacking the Democratic Party.

    The problem for Democrats is that years of letting socialists and Marxists into their DEI kingdom have only now produced dire consequences. Status quo Democrats are watching their power evaporate as Democratic Socialists of America-backed candidates defeat mainstream Democrats in primaries across New York, Colorado, Pennsylvania, and other states.

    Penn's warning was blunt: "America will be in serious trouble if Democrats fail to defend their party."

    "This 'revolution' is driven not by the working class but by the urban professional class that is willing to support candidates who celebrate 9/11, cheer at the massacre of 1,000 Israeli and American kids, would defund the police, abolish prisons, end private property and open the borders," Penn explained.

    Penn and his fellow status quo party members are watching in real time as their party transforms almost overnight from one once built around labor, civil rights and working-class citizens into one increasingly defined by anti-American rhetoric, hostility toward capitalism, support for foreign adversaries, calls to abolish jails, race-based politics and, of course, utter disdain for the Constitution.

    What DSA stands for:

    Our latest profiling of the new Democratic Party appears to show how DSA-ers are far detached from traditional American values and openly hostile to the country's founding institutions:

    Meet the new Democratic Party:

    Meet the unofficial DSA spokesman:

    Penn's op-ed then called for immediate investigations into the DSA to determine whether the socialists are "being funded by foreign governments and interests."

    He said, "Lawmakers, law-enforcement agencies and journalists should investigate the DSA to see if it is being funded by foreign governments and interests."

    It only appears as if Penn reads ZeroHedge:

    Or perhaps Penn sees the writing on the wall:

    Penn explains that if the DSA is not properly handled, then "New York and other cities will decay further."

    Penn's call for investigations into the DSA, including whether the group is funded or supported by foreign governments or foreign interests, may not have come out of nowhere.

    The broader concern is that federal officials are investigating whether elements of the far-left activist NGO sphere have been influenced by foreign-linked networks. Investigations are focused on China and Cuba.

    Penn's decision to write an op-ed attacking the socialists only highlights the growing alarm inside the Democratic Party.

    The question now is whether traditional Democrats begin looking across the political aisle to counter the socialist wing before it gains even more ground in low-turnout primaries and deep-blue districts. A bipartisan anti-socialist push would have been unthinkable not long ago, but if the DSA keeps toppling incumbents and reshaping the party from within, that may be exactly where this fight is headed.

    President Trump has been gearing up for the political fight against the radical left, in which he said on Truth Social last month: "The Communists are finally making their move. I've been waiting and preparing for this for a long time."

    Tyler Durden Tue, 07/07/2026 - 23:00

    How Interceptor Missiles Work: The Technology Behind Stopping Missiles In Mid-Air

    Zero Hedge -

    How Interceptor Missiles Work: The Technology Behind Stopping Missiles In Mid-Air

    Authored by Kaif Shaikh via Interesting Engineering,

    Intercepting a missile sounds straightforward. Launch another missile at it before it reaches its target. In reality, it is one of the most technically demanding challenges of defense.

    Here's how modern interceptor missiles protect against aircraft, cruise missiles, and ballistic threats.Getty Images

    Unlike offensive missiles, interceptor missiles must detect, track, calculate, and collide with a target that may be traveling several times the speed of sound, often within a matter of minutes. Some even destroy their targets without carrying an explosive warhead, relying instead on the sheer force of impact. Here's how interceptor missiles work.

    It Starts With Detection

    An interceptor missile is only as effective as the network supporting it. Long before an interceptor launches, satellites equipped with infrared sensors detect the intense heat generated by a missile launch. Ground- and sea-based radars then begin tracking the missile's trajectory, calculating where it is likely to travel and, more importantly, where it can be intercepted.

    This information is continuously shared across a command-and-control network that decides whether an engagement is necessary, selects the most suitable interceptor, and determines the optimal launch time.

    Predicting Where A Missile Will Be

    One of the biggest misconceptions is that interceptor missiles simply "chase" incoming threats. Instead, fire-control computers predict the future position of the target based on its speed, altitude, direction, and expected flight path. The interceptor is launched toward that predicted intercept point rather than directly at the missile's current location.

    As both missiles continue moving, onboard guidance systems receive updated tracking data and constantly adjust the interceptor's course until it reaches the target. The entire process, from detection to interception, may take only a few minutes for short-range ballistic missiles.

    Three Opportunities To Intercept

    Ballistic missiles travel through three distinct flight phases, each offering different interception opportunities. The boost phase begins immediately after launch while the rocket motors are still burning. During this stage, the missile is highly visible due to its intense infrared signature, but interception is extremely difficult because defensive systems must already be positioned near the launch site.

    The midcourse phase is the longest portion of flight, when the warhead travels through space after booster separation. Systems such as the Aegis Ballistic Missile Defense using SM-3 interceptors and the U.S. Ground-based Midcourse Defense are designed to engage threats during this stage.

    Finally comes the terminal phase, when the warhead re-enters the atmosphere and descends toward its target. Systems such as THAAD and Patriot PAC-3 operate in this phase, providing the final opportunity to stop an incoming missile before impact.

    Hit-To-Kill Versus Explosive Interception

    Not every interceptor destroys its target in the same way. Many older interceptor missiles use blast-fragmentation warheads, detonating near the incoming missile and destroying it with high-speed metal fragments.

    Modern systems increasingly rely on hit-to-kill technology. Rather than exploding nearby, these interceptors collide directly with the incoming missile at extremely high speed. The enormous kinetic energy generated by the impact is sufficient to destroy or disable the target without carrying a large explosive payload. Systems including THAAD, SM-3, and Patriot PAC-3 employ hit-to-kill interception for many ballistic missile defense missions.

    Why Is Interception So Difficult?

    Intercepting a missile is often compared to "hitting a bullet with another bullet," but the reality is even more challenging. Incoming ballistic missiles can travel at several kilometers per second, leaving defenders with only a narrow engagement window. Modern missiles may also deploy decoys, maneuver during flight, or fly at lower altitudes to complicate tracking.

    Weather, electronic warfare, radar coverage, and terrain can further reduce the time available to detect and engage a threat. For this reason, countries increasingly rely on layered missile defense, where multiple interceptor systems operate at different ranges and altitudes. If one layer fails, another still has an opportunity to intercept the incoming missile.

    Examples Of Interceptor Missiles

    Different interceptor missiles are optimized for different threats. The Patriot PAC-3 focuses on defending military bases and cities against ballistic missiles, cruise missiles, and aircraft during the terminal phase.

    THAAD (Terminal High Altitude Area Defense) intercepts short- and intermediate-range ballistic missiles at much higher altitudes, including outside Earth's atmosphere. The naval SM-3 interceptor protects ships and allied territories by engaging ballistic missiles during their midcourse phase, while SM-6 provides additional terminal defense against aircraft, cruise missiles, and some ballistic threats.

    Other countries operate systems such as Israel's Arrow-3, David's Sling, and Iron Dome, each designed for different ranges and threat types.

    The Future Of Missile Interception

    As hypersonic glide vehicles and maneuverable ballistic missiles become more common, traditional interception methods are becoming increasingly challenging. Future systems are expected to combine more capable sensors, artificial intelligence-assisted tracking, and new interceptors, such as the Glide Phase Interceptor (GPI), currently under development, to engage hypersonic threats before they begin their final descent.

    While no missile defense system offers perfect protection, modern layered architectures have significantly improved the ability to detect, track, and intercept increasingly sophisticated threats. Success ultimately depends not on a single interceptor missile but on the seamless integration of satellites, radars, command networks, and multiple defensive layers that work together within seconds.

    Tyler Durden Tue, 07/07/2026 - 22:35

    Revolutionary War Cannons Hidden For 240 Years Go On Display

    Zero Hedge -

    Revolutionary War Cannons Hidden For 240 Years Go On Display

    A remarkable collection of Revolutionary War artifacts that lay hidden beneath the Savannah River for nearly 240 years is now on public display in Georgia's oldest city as the nation marks America's 250th anniversary, according to Fox News.

    The Savannah History Museum officially unveiled 19 cannons recovered from the river as part of its new Loyalists & Liberty: Savannah in the American Revolution exhibit. Historians say the discovery represents the largest cache of 18th-century artillery ever recovered from a single Revolutionary War naval event.

    Fox News wrote that the cannons were discovered unexpectedly in 2021 after crews with the U.S. Army Corps of Engineers uncovered them while dredging the Savannah River to deepen the shipping channel for larger cargo vessels.

    "When they were recovered, the cannons were heavily encrusted with oyster shells and marine growth after centuries underwater," said Nora Fleming Lee, CEO of the Coastal Heritage Society. In addition to the artillery pieces, crews also found smaller artifacts, and several of the cannons still contained cannonballs and their original gunpowder charges.

    Following their recovery, most of the cannons were transported to a preservation laboratory at Texas A&M University, where conservators spent several years removing salt from the iron through a specialized electrolysis process before stabilizing and protecting the metal for long-term display.

    Seventeen of the cannons underwent full restoration, while two were intentionally left in their original condition so visitors can compare how they looked when first pulled from the river. All 19 are now permanently exhibited at the museum.

    Researchers believe the weapons came from British ships that were deliberately scuttled in 1779 to create a blockade across the narrowest section of the Savannah River. The barrier was intended to prevent French naval forces from sailing upriver and helping American troops retake Savannah, which was then under British control.

    The ships are believed to have been sunk only weeks before the Battle of Savannah, one of the deadliest engagements of the Revolutionary War, where more than 800 casualties were recorded in less than an hour. The battle took place on the same grounds where the Savannah History Museum stands today.

    Museum officials say the exhibit goes beyond showcasing military artifacts. Through the stories of Indigenous people, enslaved and free Black residents, women, children and other overlooked figures, it explores Savannah's role in the American Revolution from multiple perspectives, using the recovered cannons as a centerpiece to tell a broader and more inclusive story of the nation's founding.

    Tyler Durden Tue, 07/07/2026 - 22:10

    Condomnation: WaPo Hits Platner With Fresh 'Sneaky Stealthing' Accusation

    Zero Hedge -

    Condomnation: WaPo Hits Platner With Fresh 'Sneaky Stealthing' Accusation

    Update: Just when you thought the media couldn't try harder to force Graham Platner out of the race for Senator from Maine, WaPo is out with a new one: that 'sneaky' oysterman was secretly shucking his condoms off during sex - or so an ex-girlfriend told the deep state's favorite paper of record. 

    "He would pull condoms off," claims Lyndsey Fifield, who says she dated Platner from 2013-2015 in Washington DC - and previously accused him of physical abuse. "He would do it in a sneaky way. He wouldn’t tell me."

    And just like how the NY Times withheld key details until the dam broke thanks to Politico (read below), WaPo knew about this accusation since June 20.

    Fifield initially told The Post about the alleged condom removal during a June 20 interview that was off the record. She said she decided to speak publicly about it Tuesday in part because, she said, she wanted to show that Racicot was not alone in experiencing issues with Platner involving sexual consent. -WaPo

    In other words, this was 'off the record' until she 'decided to speak publicly about it Tuesday' in order to support a fellow accuser. WaPo then writes:

    "Removing a condom during sex without consent, known as “stealthing,” is classified as a form of sexual assault in several countries, including Britain, Canada and parts of Australia. In the United States, Maine, California and Washington state have laws that address the nonconsensual removal of condoms during sex."

    ...

    She estimated that Platner removed condoms without her consent at least six times when they had sex at both of their residences in D.C. during their two-year, on-and-off relationship. She said she told him that she was upset about it but that he would make light of the situation.

    So - he stealthed Fifield an alleged six times - and she continued letting him inside of her vagina after said stealthing was an established maneuver, your honor. 

    "I confronted him both during and after [sex] because he knew that I was not on birth control and how dangerous that was," she told the Post, which waited until now to tell the world. "He would act like cute about it, like ‘Oh sneaky me.’"

    Sneaky indeud. But not sneaky enough to save his 2026 run for Senate a decade later, it would seem. 

    Platner's campaign has denied Fifield's allegation, calling her claim "categorically false and politically motivated."

    Now it's over...

    * * * BEFORE YOU GO - If you want amazing meat, pick up some of this BMS 7+ Wagyu from veteran-owned KC Cattle Co. Salt & pepper, pan sear / oven finish, and it needs nothing else. NO stringy meat, each bite is seriously packed with flavor, and the fat just melts as you chew. This happened not 6 days ago at house Durden. And yes the dogs got some too.

    Earlier: Graham Platner's Senate campaign is imploding after Politico published a detailed account on Monday from Jenny Racicot, a 41-year-old Democrat from Maine, who accuses the progressive darling of rape. Donors are heading for the exits, Democrats are withdrawing endorsements, and calling for Platner to drop out.

    But there's another scandal hiding in plain sight, and it involves the New York Times, which published an exposé last month featuring three women who dated Platner, who had each accused him of domestic abuse.

    Racicot also appeared in the New York Times' story on Platner last month. The paper interviewed her and spoke with another anonymous woman as well. Yet when the Times published its June report, it omitted the sexual assault allegations from Racicot and the anonymous Democratic woman who had dated Platner. Instead, the story centered on another accuser, Lyndsey Fifield, a Republican operative whose partisan resume became a central focus of the article.

    "After the story went up, I began to ask them... wait, where are the stories from the other women? Where are their accusations of sexual assault? Why am I the focus? Why are there 11 paragraphs dedicated to detailing my work history (more than has been published about Graham's by far)?" Fifield asked after the story was published.

    According to Fifield, reporters contacted her in early April and pressured her past her initial refusal. They told her there were other women and they needed to "band together." They also promised to protect her. She eventually relented. "I bucked all advice from my friends (and resisted my conservative bias) and decided to fully trust the Times journalists," she wrote on X, turning down other outlets and sitting quiet through weeks of delays.

    Then she handed them everything a reporter could want: five friends who could corroborate her story, former roommates who watched Platner stalk her row house from five doors away, screenshots, landlord emails documenting the lease she broke to escape him, and time-stamped diary entries. Reporters called just the two friends who could confirm the relationship timeline rather than the abuse, and told her they saw no need to contact the ex-fiance she confided in during pre-marital counseling since the diary covered it.

    The published story claimed nobody could corroborate her account. "Why does it say 'nobody could corroborate' when I offered them sources that COULD corroborate?" Fifield asked. Friends had confirmed to the Times that she disclosed the abuse years before Platner announced a run for anything. That corroboration never made print.

    Three women who had never met, Fifield, Racicot, and the third anonymous accuser, described the same cycle of intimate partner violence, coercive control, and love-bombing. The Times had all of it but gave readers mostly a deep dive on the Republican woman's employment record instead. "It dawned on me that this really was a set up all along," Fifield wrote. "The journalists I trusted who convinced me to share a story I never wanted to tell methodically delayed and twisted this into a gift to the Platner campaign. Violating the trust of his victims. Shattering the trust I placed in them with the most vulnerable story of my life."

    Politico's Adam Wren appeared on MSNOW's "Morning Joe" to walk Mika Brzezinski through the vetting of Racicot's story. Brzezinski noted the absence of any police report and asked, "Given the very high standards Politico has before they write something like this and publish it, what aspects of this story brought it to the level of publishable?" Wren explained how Racicot "had confided into a number of people, including her therapist, in almost real time." The corroboration consisted of "email exchanges between she and her therapist" and conversations with people she confided in during the months that followed.

    When Brzezinski pressed Wren on what tied Platner to the act itself, he cited an Instagram message Racicot sent the next day, as well as messages to others afterward. Therapist emails and secondhand descriptions of unrecovered messages cleared Politico's bar, but eyewitness roommates, screenshots, landlord emails, timestamped diaries, and friends confirming contemporaneous disclosures fell short at the New York Times, which lied to America by claiming nobody could corroborate Fifield's story, and completely omitting Racicot's claims of sexual assault.

    Platner's campaign will likely die in the coming days, but the New York Times' credibility went first.

    Tyler Durden Tue, 07/07/2026 - 22:01

    Super El Niño Could Trigger Major Coal Boom In India

    Zero Hedge -

    Super El Niño Could Trigger Major Coal Boom In India

    Authored by Tsvetana Paraskova via OilPrice.com,

    The super El Niño weather phenomenon this year will significantly boost India's demand for coal-fired power generation over the next 12 months, as a generation gap could occur with higher temperatures, the Finland-based think tank Centre for Research on Energy and Clean Air (CREA) said in a report on Monday.

    The El Niño, the recurrent weather pattern driving global temperatures higher, would affect most energy systems globally, but none would be as affected as India's, according to CREA.

    The El Niño, typically associated with lower wind speeds and less rainfall, could reduce India's power generation from wind and hydropower. This will open a gap in generation, CREA warns, adding that the gap will be mostly bridged by a surge in coal power generation.

    "Combine the lost output from renewables and the increased demand for power, and India could face a generation gap of nearly 18 TWh," CREA's analysts said in the report.

    "Super El Niño Could Trigger Major Coal Boom In India, which would release an estimated 17 million tonnes of CO2."

    India, the world's second-biggest coal importer and user after China, continues to rely on coal despite a booming renewable energy sector. The Super El Niño could vindicate India's approach not to give up on coal.

    Overall, coal-fired power generation and capacity installations in India continue to rise, and coal remains a key pillar of India's electricity mix, with about a 60% share of total power output.

    Despite booming renewable capacity additions, India continues to rely on coal to meet most of its power demand as authorities also look to avoid blackouts in cases of severe heat waves.

    Coal will still be a key part of India's power system for the next two decades, Rajnath Ram, adviser for energy at the government policy think tank, NITI Aayog, said at the end of last year.

    "We cannot be subjective about coal. The question is how sustainably we can use it," the official noted.

    Tyler Durden Tue, 07/07/2026 - 19:15

    Japan's Keynesian Mirage: How Debt, Inflation, & A Collapsing Yen Expose A Failed Model

    Zero Hedge -

    Japan's Keynesian Mirage: How Debt, Inflation, & A Collapsing Yen Expose A Failed Model

    Authored by Daniel Lacalle,

    Japan’s yen crisis exposes the long‑running failure of the Keynesian strategy that has dominated the country’s economic policy: chronic deficits, exploding public debt, and engineered inflation are now eroding Japan’s purchasing power, competitiveness, and monetary stability.

    For decades, many mainstream analysts pointed to Japan as proof that a rich, “monetarily sovereign” country could keep an extremely high public debt without relevant consequences. The argument was simple: as long as the state can issue its currency, it can always print whatever is needed to cover deficits, refinance debt, and support public spending.

    In reality, that has meant public debt soaring to around 250% of GDP, one of the highest levels in the developed world, while repeatedly increasing government expenditure and leaving large, persistent deficits. Even the IMF notes that, even after several years of moderate growth, prudence is “key to keep debt‑to‑GDP on a firmly downward path,” admitting that the current level is a structural vulnerability.

    Japan’s apparent stability depended on a crucial external factor, the country’s enormous exporting capacity.

    As a leading exporter of cars, technology, and capital goods, the country attracted a continuous inflow of US dollars and foreign capital that supported a stable currency and kept inflation low, despite fiscal excess. That protective layer is eroding fast. Headline inflation has edged up from 1.4% in April 2026 to 1.5% in May, while core inflation has held at 1.4%, still below the Bank of Japan’s 2% target but clearly positive after three decades of near‑zero price growth.

    A key factor of the Japanese model was its export engine and the “golden goose” of capital inflows.

    These two factors allowed the country to live with large debt and deficits without immediately triggering high inflation. However, that mirage is vanishing as external performance falters and inflation, though moderate, bites into real incomes.

    Keynesianism did not spur growth or improve Japanese citizens’ lives. It just bloated an unsustainable government machine.

    Recent data show that price increases are now broad‑based, not confined to a few categories. In May 2026, overall CPI inflation was 1.5% year-on-year. However, food prices rose 3.5% year-on-year, which is a heavy burden for households. Goods inflation stood at 2.0%, while services inflation was around 1.0%.

    Underlying inflationary pressures, particularly in services and wage‑sensitive sectors, are now embedded in the system rather than an isolated energy shock. Meanwhile, real net wages are stagnant or declining. Japanese citizens face an affordability crisis.

    The authorities, obsessed for years with the ludicrous “risk of deflation,” consciously tried to push inflation above zero, aiming to erode the real value of the public‑debt stock. They have achieved modest inflation, but at the cost of real wage erosion. Despite headline gains in nominal pay, inflation‑adjusted wages have fallen for four consecutive fiscal years, with a 0.5% decline in real wages in fiscal 2025 alone. Citizens are poorer, while the government is bigger, even as headline macro indicators show stability.

    The most visible symptom of this model’s exhaustion is the yen. Despite repeated interventions by the Bank of Japan and a shift towards higher policy rates—the BOJ’s benchmark is now at its highest point since the mid‑1990s—the currency has slid to levels not seen in almost forty years. Each attempt to defend the yen produces a brief rebound, but the broader trend reflects markets’ concern about Japan’s long‑term fiscal and monetary sustainability.

    Japan is not going bankrupt in strict terms; it is demolishing its currency, which is equivalent to an implicit default.

    No one wants Japan to fail, but the model has delivered nothing in the past decade. The IMF talks about solid output growth, robust domestic demand, and low unemployment. However, domestic demand and GDP are disguised by constantly rising government spending, while low unemployment is a consequence of challenging demographic conditions. Japan’s population is aging and shrinking, and Keynesianism has made it harder for families to grow and have children.

    If GDP and domestic demand were really strong, the country would have a strong currency. Instead, the yen weakness reveals investors’ skepticism regarding a model that combines very high debt, structurally positive inflation, and decades of real wage stagnation.

    Japan has avoided a formal sovereign default and sudden stop in financing not because the Keynesian model is sound, but because the country still attracts a “gigantic” inflow of foreign capital and investment. Those inflows supply dollars, support asset prices, and help keep the system running despite its internal contradictions. A Bank Of Japan obsessed with raising asset prices by increasing ownership of ETFs shows it is more interested in headline figures than citizens’ cost of living.

    On the surface, the wage picture in early 2026 looks encouraging. Average cash earnings grew 3.5% year‑on‑year in April 2026, marking the 52nd consecutive month of nominal wage gains and the fastest pace since late 2024. Base pay was up 3.4%, and nominal wages rose across sectors—from manufacturing and construction to information and communications and finance. Government data show that in March, nominal wages increased about 2.7%, while the consumer inflation rate used to calculate real wages stood at 1.6%, allowing real wages to rise roughly 1% in that month. However, these monthly improvements sit atop a longer‑term pattern where inflation has outpaced wage growth. Over fiscal 2025, real wages fell 0.5% and the small bounce may be short-lived as estimates show another negative real wage year for 2026. Japan’s real wages have stagnated for nearly 30 years since peaking in 1997. The inflation that policymakers wanted to generate is ultimately eroding the living standards of the citizens whose demand is supposed to sustain growth.

    Against this backdrop, calls to raise taxes further to stabilize the public accounts risk pushing the system into another vicious circle. Higher taxation would likely weaken investment and capital inflows, undermine competitiveness, and intensify pressure on households. Immigration, often proposed as a demographic fix, may raise aggregate GDP but also increase fiscal strain when public finances are already deeply imbalanced, as seen in other advanced economies.

    Japan’s situation is not a sudden accident; it is the culmination of policies that have been failing for decades. The country’s wealth, export capacity, and capital inflows allowed it to live with large imbalances for a long time. The difference today is that the traditional strengths have weakened, and the latest data make the structural problems clearer.

    Japan shows the structural failure of a policy approach that “always seeks to expand public imbalances at the expense of citizens.” The Keynesian experiment in Japan aimed to prove that government is a key engine of growth but instead produced long‑term stagnation, high debt, and an erosion of real incomes. The yen’s weakness is simply the symptom of a larger disease: statism. And some want to repeat it in your country.

    Tyler Durden Tue, 07/07/2026 - 18:25

    International Olympic Committee Lifts Suspension, Russians To Compete At LA Games

    Zero Hedge -

    International Olympic Committee Lifts Suspension, Russians To Compete At LA Games

    In another sign of war fatigue in the West, and perhaps amid greater realization that 'punishing' the Russian people is having no real effect on the course of the Ukraine war, the International Olympic Committee (IOC) has finally eased restrictions on Russian athletes ahead of the 2028 Games in Los Angeles.

    "The International Olympic Committee (IOC) Executive Board (EB) has provisionally lifted the suspension of the Russian Olympic Committee (ROC) that had been in effect since 12 October 2023," the Olympic body stated Tuesday.

    "The decision was taken following a thorough analysis by the IOC’s Legal Affairs Commission, considering that the ROC no longer includes as its members any regional sports organizations in territories falling under the jurisdiction of the National Olympic Committee (NOC) of Ukraine," it continued.

    Still, it sought to assure 'solidarity' with Ukraine, stating additionally: "The IOC stands in solidarity with the Olympic community of Ukraine, which the Olympic movement has supported since the beginning of the war, and will continue to do so."

    The past several yeas has seen Russian and Belarusian athletes compete only under 'neutral' status. The new policy change has yet to indicate whether Russia will be able to display its flag or colors, or play its anthem - but presumably so.

    Russian athletes can now compete as long as they "meet relevant anti-doping requirements," the IOC made clear in announcing the status change.

    IOC President Kirsty Coventry has started speaking some sense:

    “We don’t want to hold athletes accountable for the actions of their government.”

    “We made it clear that all athletes had the possibility to compete at the Olympic Games. This is what this decision speaks to. It allows Russian athletes to take part in sports competitions. We thought it was really important for athletes to have that possibility,” Coventry said.

    Some pundits have for years been pointing out a glaring double standard: Israel's invasion of Gaza has by any estimate resulted in far more civilian deaths than the Ukraine war, yet the IOC has not considered banning Israeli athletes.

    George W. Bush's 2003 invasion of Iraq resulted in - according to various estimates - between 500,000 and one million Iraqi civilian deaths. What's more is that it was only within years later the entire case the Neocons made for the invasion was proven an absolute fraudulent lie. Where were the IOC punitive actions against American athletes? It wasn't even a thought.

    Similarly, Washington's bombing and invasion of Afghanistan turned into a more than two-decade long quagmire full of civilian death and destruction for entire towns and villages. And not a peep from the IOC or any Olympic officials.

    The clear pattern has been that only those enemies and rivals of the Western allies get banned from the games. 

    Tyler Durden Tue, 07/07/2026 - 18:00

    China Test-Launches Nuclear-Capable Ballistic Missile In Pacific, Alarming Neighbors

    Zero Hedge -

    China Test-Launches Nuclear-Capable Ballistic Missile In Pacific, Alarming Neighbors

    Via The Cradle

    The Chinese navy on Monday test-launched a strategic missile from a nuclear submarine in the Pacific Ocean in the framework of its annual military exercises.

    "At 12.01pm on July 6, a strategic nuclear submarine of China's People's Liberation Army Navy successfully launched a... strategic missile carrying a training simulation warhead into the relevant high seas of the Pacific Ocean," spokesperson Wang Xuemeng said in a statement posted on WeChat.

    via Reuters

    "This missile test launch is a routine arrangement of China's annual military training, and relevant countries were informed in advance," Wang stated, adding that the missile "accurately" landed in the designated area.

    China's official Xinhua News Agency said that the test was a "routine arrangement" within the framework of China's annual military exercises.

    Papua New Guinea's foreign minister and a New Zealand government source told AFP that China was preparing to test-fire a nuclear-capable ballistic missile.

    "Yes, China has briefed me. I was personally called by the Chinese ambassador," Papua New Guinea Foreign Minister Justin Tkatchenko stated.

    After Japan was notified, it strongly urged China to reconsider moving ahead with the test launch.

    "We strongly requested a reconsideration of this test launch of the ballistic missile to ensure that it does not pose a threat to Japan's security, particularly by passing through its airspace," according to a joint statement issued before the launch by Japan's ministries of defense and foreign affairs.

    The test launch came as China and Russia officially began their annual "Joint Sea-2026" naval exercises on Monday. The exercises are scheduled from 6 to 13 July and are taking place in the waters and airspace off the eastern Chinese port city of Qingdao.

    The bilateral maneuvers aim to address regional security challenges and elevate military cooperation between Beijing and Moscow.

    Russian state media reported that a cruiser, a corvette, a diesel-electric submarine, and a rescue vessel from Russia's Pacific Fleet will participate in the drills. China's Northern Theater Command said that two destroyers, a frigate, a submarine, a supply ship, and a rescue vessel will participate.

    During a visit to Beijing in May, Russian President Vladimir Putin said that Chinese and Russian military and economic cooperation "demonstrate strong momentum."

    Chinese President Xi Jinping praised the strong relationship between Beijing and Moscow.

    "We have been able to continuously deepen our political mutual trust and strategic coordination with a resilience that remains unyielding despite trials and tribulations," Xi said.

    Both leaders warned against a global return to the “law of the jungle,” referring to the unprovoked US-Israeli war on Iran.

    Tyler Durden Tue, 07/07/2026 - 17:40

    Anthropic Removes "Scary" Secret Claude Tracker After Developer Stumbles Across It

    Zero Hedge -

    Anthropic Removes "Scary" Secret Claude Tracker After Developer Stumbles Across It

    Anthropic has removed hidden detection code from its Claude Code tool after a developer reverse-engineered the binary and exposed how the company was subtly monitoring users in China.

    The code, which Anthropic described as an experiment launched in March, used a form of prompt steganography to signal information about a user's environment back to Anthropic's servers. It was designed to help detect unauthorized resellers and attempts by other organizations to distill Claude's capabilities into their own models.

    How The Detection Worked

    The mechanism was first spotted by a Reddit user known as LegitMichel777, who stumbled on it while trying to restore a disabled feature in Claude Code. A separate developer known as Thereallo independently confirmed the finding the same day, June 30, publishing a technical breakdown of exactly how it worked.

    The checks only ran in one specific situation: when a user pointed Claude Code at a different server instead of Anthropic's own - something companies commonly do when they route their traffic through internal systems or third-party gateways. From there, it checked two things:

    • Whether the user's computer was set to a Chinese time zone (Shanghai or Urumqi).
    • Whether the new server address matched a hidden list of Chinese AI companies (including well-known names like DeepSeek, Zhipu, and Moonshot) or known resale and proxy services.

    If either check came back positive, Claude Code would quietly tweak a line of text called the "system prompt" - background instructions the app automatically sends to the AI model with every request, invisible to the person typing. Specifically, it changed how the date was written in that line:

    • If the user was in a Chinese time zone, the date switched from using dashes to slashes (e.g., 2026/06/30 instead of 2026-06-30).
    • The apostrophe in the phrase "Today's date is..." was swapped for one of three lookalike characters, each one a different signal, depending on which combination of checks the session had triggered.

    None of this was visible to users, or likely even to the AI model itself in normal use - the characters look identical on screen. But Anthropic's servers could read the difference instantly. The lists of flagged domains and keywords were also scrambled inside the app's code using a basic encryption trick, so they wouldn't show up if someone just opened the file and searched for them.

    Thereallo called the approach "prompt steganography" - hiding a signal inside ordinary-looking text - and noted it let Anthropic sort and flag sessions without needing any separate, visible tracking system.

    Anthropic's Explanation

    Last Tuesday, Anthropic engineer Thariq Shihipar, who works on the Claude Code team, confirmed the feature on X:

    "This is an experiment we launched in March that was meant to prevent account abuse from unauthorized resellers and protect against distillation. The team has landed stronger mitigations since then and we've actually been meaning to take this down for a while. We merged the PR and this should be fully rolled back in tomorrow's release."

    Anthropic has stated that unauthorized resellers have been selling access to Claude accounts and subscriptions at steep discounts in certain markets. The company has also publicly documented large-scale efforts by Chinese AI labs to distill its models by querying them at high volume through proxies and fraudulent accounts.

    Anthropic removed the detection logic shortly after it became public.

    Alibaba Bans Claude Code For Employees

    The disclosure prompted a swift response from Chinese technology giant Alibaba. According to internal documents reported by the South China Morning Post, Alibaba added Claude Code to its list of high-risk software and instructed employees to stop using it for work, effective around July 10. The memo cited "back-door risks" following the discovery of the hidden markers.

    Alibaba has not publicly commented on Anthropic's earlier accusations that its Qwen models benefited from large-scale distillation of Claude.

    The Wider Context: Distillation And Geopolitical Competition

    Model distillation - training a new model on the outputs of a more capable one - is a common technique in AI development. However, Anthropic and other U.S. frontier labs argue that industrial-scale distillation campaigns by foreign entities, particularly Chinese labs, undermine export controls and intellectual property protections.

    Anthropic has previously published details of what it described as distillation operations targeting its models by labs including DeepSeek, Moonshot, and MiniMax. Chinese researchers have also published work showing that many leading Chinese models carry detectable signatures consistent with distillation from U.S. systems.

    In this environment, companies like Anthropic face pressure to protect their models while maintaining user trust - especially in tools like Claude Code, which are granted significant access to users' local machines, files, and command execution.

    Thereallo's analysis raises obvious questions about transparency. While the feature wasn't designed to steal user data or take control of anyone's computer, hiding this kind of tracking inside the system prompt without telling anyone erodes the trust these coding tools depend on.

    "Coding agents already live on the wrong side of a scary boundary," Thereallo wrote. "Hiding the signal in the system prompt makes every other privacy claim harder to believe."

    Anthropic has not issued a detailed public postmortem on the experiment. The company has emphasized that distillation attacks and account abuse pose risks to model safety standards and U.S. technological leadership, and that it continues to work with government and industry partners on mitigation strategies.

    Tyler Durden Tue, 07/07/2026 - 17:20

    Activists Push California To Recognize 'Black English' In Preschool Classrooms

    Zero Hedge -

    Activists Push California To Recognize 'Black English' In Preschool Classrooms

    Via American Greatness,

    Progressive California education activists are urging the state to recognize “black English” in preschool classrooms, claiming the approach would strengthen literacy development and affirm the language spoken by many black children.

    Black Californians United for Early Care & Education (BlackECE), a nonprofit advocacy organization, is promoting what it describes as an effort to challenge “harmful language hierarchies and affirm black English as a legitimate, rule-governed language rooted in black history, culture, and community.”

    The group also seeks to “address how language bias shows up in early learning spaces–and how it can be dismantled.”

    Ashley Williams, a co-founder of BlackECE, said the initiative is intended to ensure children feel their voices are respected regardless of how they speak.

    “I don’t want my son to walk into any room and feel like his voice is not valued or his perspective can’t be heard because he’s not saying it one way or the other,” Williams told PBS.

    Williams also reflected on her own experiences, saying speaking black English came with embarrassment because of its slang and grammatical differences.

    She said she often felt pressure to “talk white” instead of speaking in the way that felt most natural to her.

    BlackECE has developed a 10-point policy agenda focused on black children, families and educators, including proposals related to reparations and early childhood education.

    The organization’s campaign follows California’s 2020 plan encouraging early dual-language learning and support for bilingual children. BlackECE argues that black English should also be recognized as part of those efforts.

    “We talk about multilinguals, but we don’t include black children who may be African-American English speakers,” Xigrid Soto-Boykin, director of the Children’s Equity Project, said.

    According to research cited from the National Library of Medicine, about 20 percent of American children and 44 percent of California children ages 5 to 17 are bilingual. The information also states that 89 percent of African Americans speak only English at home.

    Tyler Durden Tue, 07/07/2026 - 17:00

    Federal Appeals Court Rules Sex Offenders Have Constitutional Right To Live With Their Children

    Zero Hedge -

    Federal Appeals Court Rules Sex Offenders Have Constitutional Right To Live With Their Children

    Authored by Matthew Vadum via The Epoch Times,

    A federal appeals court ruled July 6 that convicted sex offenders retain a fundamental constitutional right to live with their own children.

    The new ruling by the U.S. Court of Appeals for the 11th Circuit arises out of an Alabama case but could help reshape strict sex offender residency laws in the other two states in the circuit—Florida and Georgia—and serve as persuasive authority elsewhere.

    At the heart of the case is the constitutional doctrine of substantive due process, which protects certain fundamental rights that are not explicitly listed in the U.S. Constitution but deeply rooted in U.S. history and tradition, including the right of parents to live with and raise their children.

    The court ruled 8–5 in favor of the plaintiff, Bruce Henry, in the case known as Henry v. Sheriff of Tuscaloosa County.

    The majority opinion was authored by Circuit Judge Robin Rosenbaum.

    In 2013, Henry pleaded guilty to “knowingly possess[ing] ... any book, magazine, periodical, film, videotape, computer disk, or any other material that contains an image of child pornography.”

    The opinion recounts that the federal district court sentenced him to 70 months in prison and 60 months of supervised release.

    He served five years before being released in March 2018.

    He finished a qualified Sex Offender Treatment Program, along with individual and group counseling, and continues to attend weekly meetings of Sex Addicts Anonymous. In addition, he has a steady job, attends church, and volunteers.

    He violated the terms of supervised release twice by viewing pornography. He reported the violations to his sexual offender treatment provider but did not inform his probation officer. The officer filed a petition to revoke his supervised release, but the district court declined, choosing instead to extend the duration of the supervised release period through March of this year, according to the opinion.

    Since the last incident in December 2019, Henry has followed the terms of his release. In August 2021, he and his wife had a son, but because he was a sex offender, the Alabama Sex Offender Registration and Community Notification Act barred him from living with the child.

    The Act prohibits a sex offender from residing with or conducting overnight visits with any minor, but it contains a family exception that allows the offender to live with or stay overnight with their own children, grandchildren, step-children, siblings, or step-siblings.

    That protection is removed for any adult convicted of a sex offense involving a child or any offense involving child sexual abuse material, legally referred to as child pornography.

    “Alabama law affords no offramp to Henry or anyone else: the Act contains no mechanism for offenders to challenge its prohibitions on residing or staying overnight with their own children,” the opinion said.

    After Henry’s son was born, he sued officials in Alabama under federal law to block enforcement of the Act’s prohibition against him living with his son. The district court agreed that the prohibition was unconstitutional and enjoined its enforcement.

    A panel of the U.S. Court of Appeals for the 11th Circuit ruled largely for Henry, finding that the Act’s prohibition against a parent living with his own child interfered with Henry’s “fundamental right to live with and raise [his] child,” and vacated the district court’s injunction.

    The full 11th Circuit then reheard the case and ruled for Henry.

    The Supreme Court has recognized that parents have a fundamental right to live with their children, and this right is “perhaps the oldest of the fundamental liberty interests” that the 14th Amendment protects, the opinion said.

    By contrast, Alabama argued that not all parents enjoy this right and that entire categories of parents enjoy “no fundamental rights at all because they committed state-defined ‘misconduct’ years before their children were even born.” The Supreme Court has recognized that even a parent convicted of possessing “child pornography” still retains a fundamental right to live with his son, the opinion said.

    “That does not mean that Alabama can’t regulate or even abrogate that right. But to do so, Alabama must show that its legislation is narrowly tailored to further its compelling interest in the safety of children,” the appeals court said. Abrogation is the act of formally annulling a law or legal provision.

    The appeals court returned the case to the district court for reconsideration.

    Chief Circuit Judge William Pryor filed a dissenting opinion, criticizing the majority for undermining Alabama’s child-protection efforts.

    “All agree that parents generally enjoy a fundamental right to ‘make decisions concerning the care, custody, and control of their children,’” Pryor said.

    “But this appeal presents a different question: whether the Due Process Clause [in the 14th Amendment] grants child-sex convicts, not parents generally, a fundamental right to reside with their children. Of course not.”

    Pryor said that using the majority’s reasoning, a father who raped his young child still enjoys the fundamental right to live with that child unless he has been judicially determined to be dangerous.

    Pryor also said the doctrine of substantive due process creates a “treacherous field,” and the Supreme Court has directed courts to “exercise the utmost care whenever ... asked to break new ground,” to avoid usurping the authority that the Constitution entrusts to elected legislatures.

    Tyler Durden Tue, 07/07/2026 - 16:20

    The View's Sunny Hostin Says American Flags Make Her Feel 'Unsafe'

    Zero Hedge -

    The View's Sunny Hostin Says American Flags Make Her Feel 'Unsafe'

    Authored by Eric Utter via AmericanThinker.com,

    The View’s preternaturally ignorant and repulsive Sunny Hostin recently stated:

    There are times when I walk into a community and I see American flags all over the community and I suddenly feel unsafe because there's a section of this country that has coopted the American flag and they equate being an American or an American flag with white supremacy and that should never be the symbol of white supremacy, but they have weaponized [it].

    No, Sunny, you have equated the American flag with white supremacy, and you have weaponized it to fit your false narrative. 

    You have attempted to demean it, cheapen it, demonize it … and everyone who fought and died for it. All for cheap praise from morons and Marxists.

    I’m guessing Sunny would feel far less safe if she were surrounded by a plethora of North Korean flags, Iranian flags, Russian flags, or perhaps even Antifa flags. If not, she’s even dumber than she appears, which would be truly miraculous.

    I feel a bit uneasy, a tad concerned, when I am amongst a bunch of Palestinian flags, as I was at my daughter’s college graduation. Nor do I feel comfortable when mobs of misfits are waving the LGBTQ flag or trans flag in my face. The Satanic Flag/Baphomet Church of Satan flag gives me the creeps. Any communist flag makes me sick to my stomach.

    Conversely, when I am surrounded by Old Glory, I get a sense of place, belonging, and peace. I know that the folks flying them likely recognize and appreciate freedom, history, sacrifice, and the unalienable rights granted to us by our Creator. How could any flag make one feel better than that?

    So, “Sunny,” how do you think the American flag made slaves feel during the Civil War? Guessing the Union banner gave them hope and courage. (Say, didn’t one or more of Sunny’s ancestors own and trade slaves?)

    The American flag has given more hope to more people around the world than any other.

    That is inarguable. It has made more people feel “safe” and protected than any other. Perhaps if Sunny had been in France when American and allied troops liberated it, she would have known this. Maybe if she had been in Ohrdruf, Dachau, or Buchenwald when American troops liberated those still alive in these Nazi concentration camps, she would feel a bit differently.

    The stupefying ignorance of the chattering class is almost impossible to comprehend.

    It is akin to trying to rationally process the size of the universe. Worse yet, this ignorance is now paired with sheer, unadulterated evil.

    Those who hate America, capitalism, entrepreneurship, excellence, decency, the Judeo-Christian work ethic, Christianity, the Founders, limited government, the rule of law, and the concept of unalienable rights granted by our Creator -- among other aspects of a successfully functioning democratic republic — actually despise “democracy,” liberty, tolerance, inclusion, and empathy.

    Conversely, they worship themselves, and their own hatred of success and competence. And their desire to destroy all that has come before them. In their unique and misplaced attempt to trash history and elevate themselves to deity status, they reveal themselves to be some of the most contemptible and pathetic folks ever to trod the Earth.

    Tyler Durden Tue, 07/07/2026 - 15:40

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