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TSMC's Bullish AI Outlook Prompts Goldman To Say 'Anyone Hoping For A Pullback Will Get Disappointed'

TSMC's Bullish AI Outlook Prompts Goldman To Say 'Anyone Hoping For A Pullback Will Get Disappointed'

Europe's semiconductor stocks moved higher on Thursday, with ASML Holdings surging to a record high after Taiwan Semiconductor Manufacturing Co. (TSMC) reported a 35% jump in fourth-quarter profit and signaled plans to boost capital spending by nearly 40% this year.

TSMC, a supplier to tech giants including Nvidia and Apple, raised its 2026 capex guidance to $52 billion to $56 billion, up from a previous estimate of $40 billion. Management also indicated that the three-year investment plan will be significantly higher, reducing the likelihood of a near-term pullback in spending.

"Our business in the fourth quarter was supported by strong demand for our leading-edge process technologies," said Wendell Huang, Senior VP and CFO of TSMC. "Moving into first quarter 2026, we expect our business to be supported by continued strong demand for our leading-edge process technologies."

It reported a net profit of $16 billion for the October-December quarter, a 35% surge from a year earlier, exceeding analysts' average estimates.

"We expect our business to be supported by continuous strong demand for our leading-edge process technologies," Huang said. He said spending would be "significantly higher" in the next three years.

An analyst asked TSMC chairman and CEO C. C. Wei about the risk that the AI investment cycle is a bubble. Wei replied, "I'm also very nervous about it, you bet ... AI is real. Not only real, but it's also starting to grow into our daily life."

Earlier, Goldman analyst Sean Johnstone told clients, "Anyone hoping for a pullback is going to be disappointed."

Johnstone continued:

SEMICAP/AI POSTIVE as TSMC has been seen as major bottleneck for AI given how cautious mgt have been and now its raised capex ABOVE the bulls expectations. There was lots of debate in on the name in esp. around capex its guided well above both sellside and buyside at $52-56bn and saying the 3 year will be significantly higher. For 2026 sellside was $45-46bn, Buyside $47-52bn hoping the 2026 initial guidance range would include a $50bn. Anyone hoping for a pullback is going to be disappointed.

Q4 beat on GM at 62.3% street just over 60%, and operating profit at 54% (Street 51%). Guides Q1 above: 1Q rev +4% q/q or +38% y/y (Q1 guide is top end of bulls plus its guided FY at 30% - bulls expected TSMC to guide to 25% and walk it up over the year. The 5 year CAGR of 25%); GM further expands q/q to 63-65% driven by higher UTR and cost efficiencies, OM 54-55%. Overseas fab expansion would be the dilute from 2h26 by 2-3ppt. Capex FY25 was$40.9bn…. Note VAT an underweight for many saw orders beat this morning and GIR expect to see MSD u/g to cons, real risk of a squeeze

MORE +VE PRESS:SK Hynix is speeding up new fab operations to meet surging DRAM memory chip demand, Reuters reports, citing CEO Sungsoo Ryu. OpenAI's first AI chip, Titan, will launch by end-2026, media report. Co-developed with Broadcom, it will be made on TSMC's 3nm mfg process. Titan II, the next-gen chip, will use TSMC's A16 process. OpenAI has tapped Samsung's 2nm Exynos chip for its AI earbuds, 'Sweetpea'. Intel is reported evaluating price hike for its server CPU following AMD who raised CPU including Ryzen 9000 earlier more pressure on PC names

Software remained under pressure yesterday and today TSMC numbers likely to exacerbate the software vs. Semis vs. trade already -15% ytd. Plus sentiment not helped with Claude Cowork

In markets, the Taiwan Stock Exchange closed up 80 bps at 30,941. TSMC's earnings provided a bullish start for European chip stocks, notably ASML, and US chip companies, which moved higher in premarket trading. TSM shares in New York are up 6%.

This is certainly not the earnings report AI bubble bears were hoping for, as Goldman analysts echoed one another, saying that anyone hoping for a pullback is unlikely to get it.

Tyler Durden Thu, 01/15/2026 - 08:10

Witkoff Announces Start Of 2nd Phase Of Gaza Peace Plan

Witkoff Announces Start Of 2nd Phase Of Gaza Peace Plan

Authored by Ryan Morgan via The Epoch Times (emphasis ours),

Presidential peace envoy Steve Witkoff, on Jan. 14, announced the start of the second phase of President Donald Trump’s Gaza peace plan.

Displaced Palestinians walk through floodwaters following heavy rains in Gaza City on Dec. 15, 2025. Omar al-Qattaa/AFP via Getty Images

In an X post on Wednesday, Witkoff said the second phase will move Gaza from an initial cease-fire into a period that will see the demilitarization of Hamas and the establishment of a technocratic governance model.

He said the second phase will also see the start of reconstruction for the war-torn territory.

The Gaza peace plan began in October, and the overall strategy is supposed to proceed in three phases and achieve the 20-point plan Trump laid out in September.

Phase Two establishes a transitional technocratic Palestinian administration in Gaza, the National Committee for the Administration of Gaza (NCAG), and begins the full demilitarization and reconstruction of Gaza, primarily the disarmament of all unauthorized personnel,” Witkoff wrote.

It remains unclear who will comprise Gaza’s interim government. Trump has repeatedly described this government as the Gaza “Board of Peace” and said he will chair the body.

Trump’s 20-point plan includes an offer of amnesty for Hamas members who willingly lay down their arms, as well as an offer of safe passage for Hamas members seeking to leave the territory.

The scope of Gaza’s reconstruction is also unclear.

In October, a representative for the United Nations’ Development Programme shared an estimate that Gaza had sustained around $70 billion in damages over the course of more than two years of conflict.

The first phase of the deal was supposed to include the release of all Israeli hostages, living and dead, held by Hamas.

Thus far, Hamas has returned the remains of 27 out of 28 deceased hostages.

Witkoff warned that Hamas must return the remains of the last person.

“The United States expects Hamas to comply fully with its obligations, including the immediate return of the final deceased hostage. Failure to do so will bring serious consequences,” Witkoff wrote.

Israel and Hamas have traded accusations of other cease-fire violations since October.

On Oct.19, the Israeli military accused Hamas of firing on and carrying out an explosive attack on Israeli troops operating in the Rafah area of the Gaza Strip, killing two of their soldiers. Hamas’s armed wing denied knowledge of the attack and said it had lost contact with its forces in Rafah.

On Dec. 13, Israeli forces carried out a lethal airstrike targeting a Hamas commander they said was involved in continuing efforts to procure weapons and undermine the cease-fire. Hamas said civilians were killed in a strike that day, and argued Israeli military’s operations were undermining cease-fire efforts.

This is a developing story and will be updated with additional details.

Tyler Durden Thu, 01/15/2026 - 07:55

US Navy Sailor Sentenced To Nearly 17 Years In Prison For Selling Military Secrets To China

US Navy Sailor Sentenced To Nearly 17 Years In Prison For Selling Military Secrets To China

Authored by Dorothy Li via The Epoch Times (emphasis ours),

A former U.S. Navy sailor who had been found guilty of providing the Chinese communist regime with sensitive U.S. military information in exchange for money was sentenced to 200 months in prison, the Justice Department said on Monday.

The Department of Justice in Washington on Feb. 12, 2025. Madalina Vasiliu/The Epoch Times

Wei Jinchao, also known as Patrick Wei, was arrested on espionage charges in August 2023 after reporting for duty aboard the USS Essex, an amphibious assault ship based in San Diego.

Wei, a naturalized U.S. citizen, was convicted by a federal jury in San Diego of espionage and five other criminal counts, including conspiracy to commit espionage, and unlawful export of, and conspiracy to export, technical data related to defense articles in violation of the Arms Export Control Act and the International Traffic in Arms Regulations, after a five-day trial in August 2025.

Prosecutors had asked the court to sentence Wei to 21 years and 10 months in prison, arguing that his actions jeopardized U.S. national security and betrayed the country that granted him citizenship.

Defendant compromised the U.S. Navy’s entire fleet of amphibious assault ships by sending the Chinese Government thousands of pages of technical information about the fleet’s complex ship systems and how the U.S. Navy operates and maintains those systems,” Assistant U.S. Attorney John Parmley wrote in a government sentencing memorandum filed earlier this month.

“It is a betrayal of America and its people, and it often puts real lives at risk. It also can cost the Government huge amounts of money when it must adjust its military planning, operations, and tactics to account for compromises in informational security.”

In a letter submitted to the court before sentencing, his mother, Wei Mingli, appealed for leniency, recounting the hardships her son faced growing up. She said that he was raised without a father and left home around age 10 to attend boarding school because she had to care for her ailing mother at the time. She portrayed her son as a “devoted Christian” and a kind person who continued to help others, even while in custody.

Patrick Wei’s attorney had sought a much lighter sentence of two years and six months. Wei also wrote a letter to the court expressing remorse for sharing information with an individual he said he once considered a friend.

Now 25 years old, Wei apologized for “wasting taxpayers’ money and eroding people’s trust” in him, and pleaded for “love and mercy” in determining the sentence.

Yes, I screwed up,” he wrote. “If you could find in yourself to be able to show me some love and mercy in your Honorable conclusion, I would, without fear of contradiction, pay it forward and help others for the rest of my life.”

Details

According to the indictment, Wei was recruited through social media by a Chinese intelligence officer posing as a naval enthusiast affiliated with China Shipbuilding Industry Corporation, a state-owned giant shipbuilder, in February 2022.

About a week later, Wei confided in a friend in the U.S. Navy that the Chinese officer had offered him $500 for daily information on which ships were docked at the San Diego base. Wei told his friend that he was “no idiot” and that what he was being asked to do was commit espionage.

At the time, Wei was a petty officer and worked as a machinist’s mate, which gave him access to sensitive national defense information, including data on U.S. Navy ships and their weapons, according to court documents.

Prosecutors said that, starting in March 2022, Wei sent the Chinese intelligence officer multiple photos and videos of the Essex, along with information about the ship’s defensive weapon systems.

In May 2022, the Chinese officer sent him money and congratulated him on becoming a naturalized U.S. citizen.

In June 2022, Wei provided 30 technical and mechanical manuals containing export-control warnings and details of various operational systems aboard the Essex and similar U.S. Navy vessels, including power, steering, aircraft, and deck elevators, as well as damage and casualty control.

In return for transmitting these documents, Wei received $5,000. The Chinese officer informed Wei that 10 of the manuals he provided had not been seen before and were “proved useful,” according to his indictment.

During that same month, the Chinese officer specifically requested that Wei provide information about the number and training of U.S. Marines participating in an international maritime warfare exercise, as well as photographs of military equipment. Wei complied by sending several images of military hardware.

In August 2022, Wei received $1,200 from the Chinese intelligence officer after passing along another 26 documents detailing the power structures and operations of the Essex and similar vessels, which contained data subject to export controls and information classified as “critical technology” by the U.S. Navy.

Wei continued to transmit other sensitive data to the officer throughout 2023, including information about the layout and location of weapons systems, repairs to the Essex, and mechanical vulnerabilities of similar vessels. The officer instructed Wei to keep their relationship discreet and to destroy any evidence that could reveal their activities.

In the press release announcing the sentence against Wei, Assistant Attorney General for National Security John Eisenberg said: “Wei swore loyalty to the United States when he joined the Navy and reaffirmed that oath when he became a citizen. He then accepted the solemn responsibility of protecting this Nation’s secrets when the United States entrusted him with sensitive Navy information.

“He made a mockery of these commitments when he chose to endanger our Nation and our servicemembers by selling U.S. military secrets to a Chinese intelligence officer for personal profit. Today’s sentence reflects our commitment to ensuring those who sell our Nation’s secrets pay a very high price for their betrayal.”

Roman Rozhavsky, assistant director of the FBI’s counterintelligence division, said the sentencing served as “a reminder that those who choose to put personal gain above their oath and the safety of our nation will be brought to justice.”

FBI Director Kash Patel also pledged to collaborate with other agencies to defend the United States against foreign intelligence threats.

If you betray the United States, endanger our warfighters, and put personal profit over your oath, you will be found, you will be exposed, and you will pay a heavy price,” Patel wrote on X.

On the same day Wei was arrested, another U.S. Navy sailor, Zhao Wenheng, who was based out of Naval Base Ventura County in California, was also taken into custody. Zhao, also found guilty of selling military secrets to China, was sentenced to 27 months in prison in January 2024.

Frank Fang and Eva Fu contributed to this report. 

Tyler Durden Thu, 01/15/2026 - 07:15

Are Deportations Making Affordability A Winning Issue For The GOP?

Are Deportations Making Affordability A Winning Issue For The GOP?

Democrats entered 2026 confident they could make “affordability” the rallying cry that would win back suburban voters and propel them back into the majority. But an inconvenient political twist has upended that plan: Donald Trump is the one actually delivering on affordability - and doing it in ways his opponents are almost certain to despise.

The foundation of this shift is the administration’s aggressive crackdown on immigration. ICE deportations under Trump have sharply reduced the number of illegal migrants in the country - which, according to the White House - is easing the enormous housing demand that exploded under Joe Biden thanks to his open borders policies. 

In short, rents and home prices in many major metro areas are becoming more affordable. Though we would of course note that correlation is not necessarily causation.

According to new estimates from Brookings Institution economists, more immigrants left the United States than entered last year - the first time that’s happened in at least five decades. Net migration fell by between 10,000 and 295,000 in 2025, driven by everything from a near-closure of the southern border to tightened visa limits, new fees, and the suspension of nearly all refugee programs. 

Economists and industry experts say the housing impact is already being felt. 

For example, in San Antonio, developers built aggressively in 2025, expecting another surge of migrant renters. That didn’t happen, so landlords began slashing prices to fill new units. Kevin Lynn, founder of U.S. Tech Workers and a long-time critic of large-scale visa programs, called it basic economics. “When you crack down on immigration, legal and illegal, housing costs naturally drop,” he told Breitbart, describing the decline as a textbook case of supply and demand.

Lynn pointed to Lancaster County, Pennsylvania - a community once labeled “the refugee capital of America.” There, he said, newly renovated apartments are now being advertised with three months of free rent because demand from immigrants has vanished. “This is what happens when you take the immigrants out of the equation,” Lynn said.

It’s a stark reversal from the years under Joe Biden, when roughly 14 million legal and illegal migrants entered the country, coinciding with surging rents and home prices that outpaced wage growth. Now that the pressure is easing, the administration has an answer ready for Democrats hoping to campaign on “affordability.” Trump’s team is framing border enforcement not only as a public-safety measure but as a direct economic benefit for working households.

“Rents are down. You know the story that the Biden administration doesn’t want to talk about: The mass unfettered immigration that pushed up rents, especially for working Americans,” Treasury Secretary Scott Bessent said last month. “The connection between illegal immigration and skyrocketing housing costs is as clear as day.” 

The White House clearly believes this narrative could neutralize one of the Democrats’ key talking points heading into the midterms. 

Falling rents, rising wages, and higher labor participation are giving younger voters something they’ve struggled to find for years: a sense of stability. Lower immigration is also contributing to reduced crime and drug deaths, further tying economic security to Trump’s immigration policies.

And then there’s the One Big Beautiful Bill Act, which the administration believes will play a huge role in giving Americans the relief they’ve been craving. The legislation aims to lock in lower individual and corporate tax rates, expand full business expensing, and let voters see more of their paychecks. The administration describes it as a direct strike on the cost-of-living crisis.

Other key provisions include higher SALT deduction caps for homeowners, no tax on tips and overtime, and a modest expansion of charitable deductions. Seniors will also see new tax breaks on Social Security income. Buyers of U.S.-made vehicles would get fresh incentives. Each piece will show that while Democrats talk the talk on “affordability” the GOP walks the walk.

Democrats built their midterm plans around the assumption that they could own the affordability issue. Trump is instead redefining it on his terms: fewer migrants competing for jobs and housing, stronger wages, cheaper rents, and more disposable income. Republicans hope that by the time voters head to the polls, “affordability” may no longer be a Democratic talking point. And it might just work.

Tyler Durden Thu, 01/15/2026 - 06:45

President To Sign Bill Allowing Return Of Whole Milk In Schools

President To Sign Bill Allowing Return Of Whole Milk In Schools

Authored by Aaron Gifford via The Epoch Times (emphasis ours),

President Donald Trump will sign the Whole Milk for Healthy Kids Act on Wednesday, overhauling previous U.S. Department of Agriculture guidelines that required milk served in school cafeterias to be fat-free or low-fat.

President Donald Trump speaks as Secretary of Health and Human Services Robert F. Kennedy Jr. looks on during a Make America Healthy Again Commission Event in the White House on May 22, 2025. Jim Watson/AFP via Getty Images

Now, schools have the freedom to serve whole milk, flavored or unflavored, as well as organic milk.

The Senate passed the bill unanimously in November; it easily cleared the House a month later. It was sent to Trump on Jan. 6.

A 2 p.m. signing ceremony is planned in which the president will reverse an Obama-era policy that banned whole milk in public schools, White House officials confirmed to NTD, sister media outlet of The Epoch Times.

This is common sense and great news for America’s children, dairy farmers, and parents who deserve choice, not big government mandates. President Trump is delivering on his commitment to Make America Healthy Again,” said Taylor Rogers, a White House spokeswoman.

The legislation also stipulates that schools must provide milk substitutes to students with dietary restrictions upon presentation of a letter from a parent or licensed physician.

Additionally, liquid milk no longer counts toward the 10 percent maximum allowance of saturated fat calories.

Rep. John Mannion (D-N.Y.), who sponsored the House bill, previously said this legislation goes a long way in helping U.S. dairy farmers while also providing students the diets they need to “thrive in the classroom.”

As a teacher for almost 30 years, I saw firsthand how proper nutrition supports student success,” said Mannion, whose district contains many dairy farms.

A 2012 federal law prohibited school cafeterias from serving whole milk, which led to a significant decline in student milk consumption in the past decade, according to Mannion’s Dec. 15 news release.

In the two years between 2014 and 2016 alone, schools served 213 million fewer half pints of milk despite rising public school enrollment.

Mannion also said children over the age of 4 are not getting the recommended daily dairy as outlined by federal dietary guidelines aimed at promoting stronger bone health, lower blood pressure, and reduced risks of Type 2 diabetes and cardiovascular disease.

By contrast, the Physicians Committee for Responsible Medicine, a nonprofit agency represented by about 17,000 physicians, has criticized this legislation, saying that more saturated fats are unhealthy options for children.

Instead, the committee said, Congress should push soy milk as a healthier source of protein, and alternative healthy calcium sources such as nuts, kale, broccoli, and fortified orange juice.

In a related action last week, the federal departments of agriculture and health and human services unveiled a new “upside-down” food pyramid that reduces the recommended amount of grains and healthy fats and oils while increasing the amount of meats and vegetables.

Those guidelines, which will be updated every five years, also provide a stronger stance against sugar and alcohol consumption while promoting unprocessed or lesser-processed foods with saturated fats like yogurt, cheese, and whole milk.

Previous guidelines contained more sweeping generalizations against all types of saturated fats, federal officials said.

“These guidelines replace corporate-driven assumptions with common-sense goals and gold-standard scientific integrity,” Agriculture Secretary Brooke Rollins said on Jan. 7.

Tyler Durden Thu, 01/15/2026 - 06:15

Senators Want To Ban Chinese Students From Government Labs

Senators Want To Ban Chinese Students From Government Labs

Eleven US senators wrote to Energy Secretary Chris Wright on Tuesday seeking to ban Chinese nationals from US national labs - contending that their access undermines the United States' position in the artificial intelligence (AI) race. 

The Department of Energy building in Washington on Nov. 13, 2023. Madalina Vasiliu/The Epoch Times

The DOE notably oversees 17 national laboratories and funds research to advance various technologies, including energy, environmental, nuclear, and others. In November, President Donald Trump ordered the DOE to launch 'Genesis Mission,' with a goal of coordinating a national effort to accelerate AI innovation "comparable in urgency and ambition to the Manhattan Project."

In their letter, the Senators expressed concern over the thousands of Chinese nationals who have access to these national lab sites, which contain sensitive information and technology. In FY2024, around 3,200 Chinese nationals were approved for such access, which the lawmakers noted does not include lawful permanent residents of the United States, "which means there are likely hundreds, perhaps thousands, more individual Chinese citizens working in our labs," they wrote.

"Continuing to give access to the cutting-edge work performed at these laboratories to Chinese nationals who will turn everything they know over to the [Chinese Communist Party] directly undermines the purpose of Genesis Mission," reads the letter, which was co-signed by Sens. Tom Cotton (R-Ark.), Mike Lee (R-Utah), James Risch (R-Idaho), Jim Justice (R-W.Va.), John Cornyn (R-Texas), John Barrasso (R-Wyo.), James Lankford (R-Okla.), Dave McCormick (R-Pa.), Jerry Moran (R-Kan.), Todd Young (R-Ind.), and Ted Budd (R-N.C.).

The Senators recommend that the department implement a policy to prohibit access by Chinese nationals to national laboratory sites, information, and technology. 

As the Epoch Times notes further, underpinning the espionage concern is the fact that Beijing has passed laws to require all Chinese citizens to assist in the state’s intelligence efforts, as well as the regime’s practice of transnational repression.

Human rights organization Freedom House ranks the Chinese regime among the worst transnational repressors, using tactics such as threatening family members residing in China in order to coerce overseas Chinese to participate in state operations.

The lawmakers cite such coercion as one reason that even proper vetting of these scientists is “not a sufficient safeguard.”

Additionally, the volume of individuals outpaces the department’s capacity to vet them, and China has made efforts to obfuscate links to the Chinese Communist Party (CCP), the lawmakers said.

The best way to protect Genesis Mission, and the rest of the important work done throughout the labs, is to put an end to Chinese national scientists and researchers working at them,” the letter reads.

The request comes on the heels of a December House report that found the Energy Department funded research in AI, quantum, and other advanced technologies with defense applications, conducted in partnership with Chinese researchers and institutes, citing more than 4,000 research papers published between June 2023 and June 2025.

The report found that 2,000 Chinese nationals worked at national laboratories as of 2025. The lawmakers behind the report said they had interviewed department executives and found their rationale “naive.”

“Multiple DOE executives ... defended [the Chinese nationals’] continued presence ... by claiming, in effect, that we want them in our labs so they can see how advanced we are—and go back to China telling their colleagues, thus giving up on beating the United States,” the report reads.

The House Select Committee on the CCP has also published reports that show funding for Chinese defense research through grants from other government agencies, including the Pentagon.

The Department of Energy did not respond to an inquiry from The Epoch Times by the time of publication.

Tyler Durden Thu, 01/15/2026 - 05:45

Tyrants

Tyrants

Authored by Lars Møller via American Thinker,

History is replete with revolutionary figures who transformed society through “vision”, “vanity”, and “violence” - a vicious triad covering the strategy of being ideologically uncompromising, outmaneuvering rivals, and eliminating political opposition, respectively.

From Wikimedia Commons: Execution of Louis XVI (Charles Monnet, 1794)

Maximilien Robespierre and Vladimir Lenin stand out as architects of radical political transformation. Bridging the cultural divide, their leadership styles and psychological profiles show striking similarities. Both men were pedantic ideologues driven by an unshakable belief in their own moral and intellectual superiority.

A comprehensive personality profiling of Robespierre and Lenin requires an analytical framework that transcends ideological taxonomy and historical contingency. While both men operated under conditions of revolutionary crisis, their responses to this strain were neither inevitable nor merely situational. Rather, the extremes of savagery that they authorized, rationalized, and sustained reflect enduring psychological structures that shaped their political conduct. Revolutionary atrocity, in this sense, is best understood, not as an accidental excess of upheaval but as an expressive manifestation of personality under pressure.

At the center of both profiles lies a distinctive form of narcissism, albeit one that diverges from popular caricature. Neither Robespierre nor Lenin cultivated flamboyance or sensual excess. Instead, they embodied a restrained and severe narcissism, grounded in ascetic discipline and intellectual or moral exclusivity. This “austere narcissism” is particularly insidious, as it disguises grandiosity beneath the rhetoric of sacrifice and historical necessity. Both men perceived themselves as uniquely attuned to the demands of history, endowed with a clarity unavailable to others. This conviction constituted the psychological foundation of their authority and simultaneously foreclosed the possibility of self-doubt.

Robespierre’s personality was organized primarily around moral absolutism. His self-conception as l’Incorruptible was not a mere political posture but a deeply internalized identity. Personal frugality, emotional restraint, and rhetorical solemnity served as symbolic reinforcements of moral superiority. From a psychological standpoint, this configuration suggests a rigid superego structure in which ethical norms were internalized as categorical imperatives rather than negotiable principles. Moral conflict could not be accommodated; it had to be eradicated.

This psychic architecture is indispensable for understanding Robespierre’s embrace of terror during 1793–94. The Law of Suspects, enacted on September 17, 1793, dramatically expanded the definition of counter-revolutionary guilt to include vague categories such as “enemies of liberty” and those lacking “civic virtue”. In practice, this legislation enabled the arrest of tens of thousands on the basis of suspicion alone. The resulting mass incarcerations and executions were not only tactical responses to military threats but also expressions of Robespierre’s moralized worldview. Political ambiguity itself became criminal.

The Revolutionary Tribunal exemplified this moral reductionism. Legal safeguards were progressively dismantled, culminating in the Law of the Great Terror, enacted on June 10, 1794, which eliminated defense counsel and limited verdicts to acquittal or death. The acceleration of executions—over 1,300 in Paris alone within six weeks—reflected not panic but moral certainty. Violence functioned as ethical enforcement. The guillotine, with its mechanical regularity, transformed killing into procedure, allowing Robespierre to experience mass death as impersonal justice rather than cruelty. Psychologically, such depersonalization constitutes a dissociative defense: suffering is abstracted, responsibility displaced, and violence reclassified as virtue.

Robespierre’s increasing hostility towards former allies further reveals the fragility underlying his moral absolutism. The executions of Georges Danton and Camille Desmoulins—longstanding revolutionaries accused of “indulgence”—illustrate how moral rigidity devolved into paranoid purification. Dissent was no longer external but internal. The purges thus served not only political consolidation but also psychic stabilization. Each execution reaffirmed Robespierre’s self-image as guardian of revolutionary purity against an ever-expanding field of corruption.

Lenin’s psychological profile, though equally absolutist, was structured along a different axis. His narcissism was intellectual rather than moral. Lenin did not portray himself as virtuous but as scientifically correct. Authority derived from his conviction that he alone grasped the objective laws of historical development. This intellectual narcissism produced profound disdain for spontaneity, pluralism, and moral hesitation.

Lenin’s approach to violence during and after the October Revolution exemplifies this orientation. The establishment of the Cheka in December 1917 marked the institutionalization of terror as a permanent instrument of governance. Unlike the revolutionary tribunals of 1793, the Cheka operated extrajudicially from the outset. Its remit included summary execution, hostage-taking, and mass repression. Lenin explicitly endorsed these measures. In correspondence from 1918, he called for “merciless mass terror” against class enemies, insisting that hesitation would doom the revolution.

The Red Terror of 1918–22 provides stark illustration. Following the attempted assassination of Lenin in August 1918, the regime launched widespread reprisals. Thousands were executed without trial, often selected, not for actions but for social origin. Former nobles, priests, merchants, and officers were targeted as categories rather than individuals. The mass shootings at Petrograd and Moscow, as well as the use of concentration camps—precursors to the Gulag system—demonstrate how violence was bureaucratized and de-personalized. Psychologically, this categorical annihilation reflects cognitive reductionism: human beings were reduced to structural obstacles to be removed. 

The suppression of the Tambov peasant uprising (1920–22) further illustrates Lenin’s instrumental rationality. When peasants resisted grain requisitioning, the Red Army deployed poison gas, mass deportations, and hostage executions. Lenin personally authorized these measures, framing them as necessary to break “kulak resistance”. The scale and severity of the repression—tens of thousands killed or interned—underscore his willingness to annihilate entire populations in pursuit of economic and ideological objectives. Emotional detachment was not incidental but functional: empathy would have impeded efficiency.

Similarly revealing was the crushing of the Kronstadt rebellion in 1921. The sailors, once celebrated as heroes of the revolution, demanded free elections and an end to Bolshevik repression. Lenin and Trotsky responded with overwhelming force. Thousands were executed or sent to labor camps. The psychological significance lies in the readiness to destroy former allies once they ceased to serve the ideological script. Dissent, regardless of origin, was pathologized as counter-revolution.

Despite stylistic differences, Robespierre and Lenin shared a fundamental incapacity to recognize others as autonomous moral agents. From a developmental psychology perspective, this suggests impaired “mentalization”. Opposition was interpreted, not as disagreement but as moral corruption or structural deviance. Consequently, violence acquired an air of inevitability.

Both leaders also exhibited marked emotional austerity and social withdrawal. Their reluctance to engage in ordinary social life reinforced authority but deepened isolation. Isolation intensified suspicion. Deprived of corrective feedback, both increasingly relied on internal narratives of betrayal. Terror became self-reinforcing: fear confirmed paranoia, paranoia justified repression, and repression entrenched power.

This dynamic accords with established models of authoritarian personality, which emphasize the interplay between dominance and insecurity. Such leaders are not psychologically secure. Their need for absolute control compensates for internal fragility. Power functions as an external stabilizer, imposing order upon both society and the self. 

The handling of failure further illuminates these personalities. Neither Robespierre nor Lenin demonstrated genuine self-criticism. Military setbacks, economic collapse, or popular resistance were invariably attributed to insufficient repression. Violence thus substituted for reflection. Rather than revising assumptions, both escalated coercion. 

The persistence of terror beyond immediate necessity underscores its expressive function. Once institutionalized, violence became ritualized, reaffirming alignment with virtue or history. Each execution symbolized inevitability and correctness. Atrocity communicated omnipotence.

The contrast between Robespierre’s “moralized terror” and Lenin’s “instrumental terror” reflects divergent emotional economies within a shared absolutist framework. Robespierre’s violence was theatrical and ethical; Lenin’s procedural and technical. Yet both converged in their effect: the annihilation of individuality and the normalization of death as a political tool.

Ultimately, the personality profiling of Robespierre and Lenin demonstrates how revolutionary leadership magnifies latent psychological traits. Ideology supplied justification; crisis provided opportunity; personality determined execution. Their atrocities were not historical aberrations but behavioral culminations of rigid cognition, narcissistic self-identification, emotional detachment, and intolerance of uncertainty.

The broader implication is sobering. Extreme political violence need not arise from overt sadism. It often emerges from moral certainty, intellectual arrogance, and the refusal to acknowledge human complexity. Robespierre and Lenin exemplify how revolutionary ideals, when filtered through psychologically brittle leadership, can transmute aspirations of emancipation into systems of terror. Their legacies endure as warnings of what occurs when conviction eclipses conscience and abstraction supplants humanity. 

Without any mitigating self-irony, Robespierre and Lenin embodied an unlimited commitment to ideology, indifferent to the concerns of ordinary people, their lives and freedoms.

Tyler Durden Thu, 01/15/2026 - 05:00

Risk For Thee, Safety For Me: Celebrity Activism

Risk For Thee, Safety For Me: Celebrity Activism

Authored by Christian Vezilj via American Thinker,

Hollywood has mastered the art of moral performance. Award shows have become political stages where actors speak with the confidence of prophets and the certainty of philosophers. But beneath the applause lines and emotional crescendos lies a contradiction that becomes impossible to ignore: the courage they demand from others is courage they themselves will never have to summon.

This contradiction was unmistakable at the recent Golden Globe Awards. The ceremony quickly transformed into a coordinated tribute to Renee Nicole Goode, who was shot and killed by an ICE agent. Mark Ruffalo dedicated his award by saying, “This is for Renee Nicole Goode, who was murdered,” adding, “I don’t know how I can be quiet.” Wanda Sykes echoed the sentiment on the red carpet, declaring, “Of course, this is for the mother who was murdered by an ICE agent, and it’s really sad.” She went further, urging confrontation: “We need to be out there and shut this rogue government down, because it’s just awful what they’re doing to people.”

Celebrities wore coordinated pins reading “BE GOOD” and “ICE OUT,” signaling solidarity and moral urgency. The messaging was unified, emotional, and unmistakably political. The narrative was clear: this was a moment to resist, to rise up, to confront injustice.

But what was equally clear — and far more revealing — was what they chose not to say.

While the Golden Globes stage was filled with speeches about ICE, not a single celebrity mentioned the mass slaughter, imprisonment, and torture taking place in Iran at that very moment - Hundreds of protesters have been killed by the Iranian regime. Thousands have been dragged into prisons. Torture, rape, and forced confessions have been documented by human rights groups. The government has imposed sweeping internet blackouts to hide the brutality from the world. [ZH: regardless of whether this is yet more 'regime change paint by numbers' - it was completely ignored].

And yet, on one of the most visible cultural platforms in America, the silence was absolute.

  • No speeches.
  • No pins.
  • No hashtags.
  • No calls to “shut down” the Iranian government.
  • Nothing.

The contrast is staggering. When the villain is a U.S. agency, outrage is immediate, coordinated, and emotionally charged. When the villain is a foreign authoritarian regime slaughtering its own people, the outrage evaporates. The issue is not the moral weight of the cause. The issue is whether the cause is useful to the narrative they want to tell.

But the hypocrisy runs even deeper. It extends to the way Hollywood reacts to domestic events that do not fit its preferred storyline. When Ashli Babbitt was shot and killed inside the Capitol, there were no celebrity tributes. No emotional speeches. No coordinated pins. No calls for accountability. Instead, the officer who shot her was widely described as a hero. The shooting was framed as necessary, justified, even praiseworthy.

Whether one agrees with either shooting is not the point. The difference in reaction reveals the deeper truth: Hollywood’s activism is not driven by universal moral principles. It is driven by selective outrage, selective empathy, and selective courage.

This brings us to the heart of the matter: the asymmetry of risk. Celebrities routinely encourage ordinary people to “stand up,” “fight back,” or “put your body on the line.” Sykes’s call to “shut this rogue government down” is a perfect example. These are not metaphorical suggestions. They imply confrontation, danger, and the possibility of violence.

Yet the people delivering these messages do so from behind layers of insulation that ordinary Americans do not have. They live in gated communities. They travel with private security. Their homes are protected by surveillance systems, controlled access, and armed guards. They are not wrong for wanting safety — everyone wants safety — but they are wrong for preaching danger for others while choosing safety for themselves.

A working‑class person who confronts ICE or police in the street faces real, immediate, physical danger. A celebrity who posts a hashtag or makes a speech faces none. Their activism is symbolic, not sacrificial. It costs them nothing. And yet they speak as though they are shoulder‑to‑shoulder with the people they are urging into the streets.

This is where the phrase “We’re in it together” collapses. When celebrities use it, they rarely mean shared sacrifice. They mean shared sentiment. They mean shared optics. But they do not mean shared risk. Their version of solidarity is digital, not physical.

The deeper civic insight is this: selective outrage and selective courage are symptoms of a broader cultural problem. We have built a society where moral authority is often claimed by those who bear none of the consequences of their own prescriptions. Hollywood’s activism is not dangerous to Hollywood. It is dangerous to the people they encourage to act on their behalf.

True solidarity requires more than a speech, a pin, or a social media post. It requires standing in the same place, facing the same risks, and sharing the same consequences. Anything less is performance.

And performance, no matter how passionate, is not courage.

Tyler Durden Wed, 01/14/2026 - 22:30

China Blames Trump For Its Staggering $1.2 Trillion Trade Surplus Amid European Howls Of Outrage

China Blames Trump For Its Staggering $1.2 Trillion Trade Surplus Amid European Howls Of Outrage

At the start of December, China stunned the world when it reported that its trade surplus had surpassed a record $1 trillion, with one month still left to go in calendar 2025.

Fast forward to last night when China reported that in December, its trade balance rose from $112 billion in November to a whopping - and the second highest on record - $114.14 billion, matching Bloomberg estimates...

...  exports grew 6.6% YoY in dollar terms, more than double the average forecast from a Bloomberg poll of analysts of 3.1% and greater than November’s growth rate of 5.9%, while imports rose 5.7% in dollars last month on a year earlier, also far outpacing analyst expectations of 0.9% growth and the previous month’s figure of 1.9%.

Adding across, China's full-year trade surplus exceeded $1 trillion for the first time - $1.2 trillion to be precise - blowing away last year’s figure of $993bn despite exports to the US falling 20%, as those to the EU rose 8.4% and to south-east Asia rose 13.4%, where as we show below the bulk of transshipments to the US take place, as Chinese producers diverted shipments to other markets while ultimately still targeting US consumers. 

And since China's record $1 trillion trade surplus hit a month earlier had already outraged its trading partners, who finally called out Beijing (long after Trump did so first) for its mercantilist, imbalanced trade policies, Beijing needed a scapegoat for the even bigger number it reported. It decided to blame the US, the one country that until recently had reportedly "alienated the world" in its pursuit of more balanced Chinese trade.

As the FT reported, "China blamed the US for growing global trade imbalances as the world’s second-biggest economy reported a record full-year trade surplus of $1.2tn for 2025 despite President Donald Trump’s trade war."

Why? Because as we first reported last month, China's gargantuan surplus will further inflame global trading tensions, particularly with the EU where China is indiscriminately dumping cars below cost and singlehandedly putting the entire German auto industry into an early grave; it's not just Europe - all export-focused developing countries are also seething, as they find their exports are simply not competitive with cheap Chinese goods which are being dumped at a furious pace around the globe. 

In a sign of the growing decoupling of direct trade between China and the US, the American share of Chinese exports last year was 11.1% , down from 14.7% in 2024, some of the lowest levels since the 1990s, the FT reports. Of course, that is woefully inaccurate at worse, and at best incomplete, since China has merely redirected its US goods via intermediary countries - i.e., transshipments - such as Vietnam, which has seen imports from China soar to a record high.

And since Vietnam didn't grow an affluent middle class overnight, all that is happening is China is sending its trinkets to Hanoi first, before they are reshipped onward to China, under the guise of Vietnamese exports.

But, as last month, the loudest complaints about China’s surplus are expected from the EU (which said nothing when Trump was complaining loudly over the past decade and now is stuck with a crippled economy which has lost all export vibrancy for ever), yet which is terrified of its own shadow, and still has to follow the US and implement broad-based tariffs. Instead, the bloc has called for Beijing to stimulate domestic demand and reduce its own barriers to manufactured imports, something Beijing - already stuffed to its gills in debt - has shown precisely zero interest in doing, or being able to create organically.

And so, China decided to... blame Trump.

Wang Jun, vice-minister of the General Administration of Customs of China, said on Wednesday that trading partners’ export controls on high-tech products were preventing China from importing more, in not so thinly veiled comments directed at the US. Successive US administrations have imposed stringent curbs on China’s access to high-end semiconductors.

“It should be pointed out that some countries politicize economic and trade issues, using various pretexts to restrict exports of high-tech products to China; otherwise, we would import more,” said Wang, adding: “There is vast room for import growth.”

Actually no, there isn't, because as the upcoming Chinese data dump will reveal, China's domestic economy continues to deteriorate with retail sales and fixed investment at a level that signals flat GDP at best, if not negative. 

Which only leaves a flood of exports to keep China's economy alive. Sure enough, economists have warned that China’s economy is too reliant on manufacturing and exports for growth amid anaemic domestic consumption and a years-long property sector slowdown. 

“China’s staggering trade surplus is simultaneously a symbol of its exporting prowess and the weaknesses in its growth model,” said Eswar Prasad, professor of economics at Cornell University.

One more point: China's staggering trade surplus is a remnant of an era in which nobody dared point out that the neoliberal, mercantilist emperor is dead, until Trump came along. And while Europe laughed at him at first (just like they laughed when he told Germany they are entirely reliant on Russian gas), Brussels has finally figured out that it can do nothing and watch its economy implode from inside while purchasing cheap Chinese trinkets, or it can join the US president in calling out China's trade practice. At which point China's record trade surplus will collapse, with various unpleasant consequences for its economy. As for the US, it is on the right path, but it too needs to plug the gaping loopholes such as record trans-shipments through Vietnam and other Pacific rim countries. Once it does that, only then will Beijing be forced to finally revise its export-led model which is the main reason why the world finds itself in a brutal trade war for the second year running. 

Tyler Durden Wed, 01/14/2026 - 22:00

Analysis: Havana's Playbook Or Conspiracy Theory? Testing Washington's Claim That Cuban Intel Fueled US Protests

Analysis: Havana's Playbook Or Conspiracy Theory? Testing Washington's Claim That Cuban Intel Fueled US Protests

Submitted by The Bureau's Sam Cooper,

In the aftershock of the Trump administration’s special-forces extraction of Venezuelan President Nicolás Maduro, a new report from the Heritage Foundation advances a sweeping, Cold War–inflected thesis: that the real command post for much of Latin America’s authoritarian drift — and a significant driver of American street unrest since 2020 — is Havana.

Its most incendiary claim is also, arguably, the one most relevant to a Trump administration now tightening its focus on leftist heads of state from Mexico City to Bogotá: that Cuba’s communist regime, working through Venezuela and allied networks across Latin America, has sought to weaponize narcotics trafficking while also stoking social unrest inside the United States.

“Venezuela is rightly getting all the attention after the arrest of dictator Nicolas Maduro, but it is important to bear in mind that Cuba’s communist regime is the mastermind of Caracas’s plan to destabilize U.S. streets through narco-trafficking and political unrest,” Heritage senior fellow Mike Gonzalez writes, citing letters from two senior Venezuelan figures now imprisoned in the United States for their roles in “a narco-terrorism conspiracy,” who both portrayed the enterprise as part of a Cuban effort “to dismantle the moral fiber of America from within.”

In Gonzalez’s telling, the allegation is substantiated — though he is drawing heavily on witnesses whose motives, perhaps including bids for clemency, critics could question.

Hugo “El Pollo” Carvajal, a former Venezuelan intelligence chief, and Cliver Alcalá Cordones, a former senior Venezuelan military officer, both separately wrote to President Donald Trump, according to the Heritage report, accusing Cuba’s regime of masterminding narco and political conspiracies emanating from Venezuela.

The conspiracy, wrote Carvajal, “was suggested by the Cuban regime to Chávez in the mid-2000s,” and was “successfully executed with help from FARC, ELN [both Colombian guerilla groups cited in the DOJ’s indictment of Maduro), Cuban operatives, and Hezbollah.”

Gonzalez casts Cuba’s intelligence services as the hemisphere’s enduring “revolutionary operator”: training guerrillas, embedding security cadres inside allied states, and building political infrastructure designed to outlive the era of jungle insurgencies.

Venezuela under Hugo Chávez and Maduro, he argues, became Cuba’s richest proxy — financing Havana with oil, exporting the revolution’s methods, and, serving as a staging ground for narcotics and leftist terror networks that United States officials have cast as direct threats.

Moving to an element that many readers may find as implausible as any narco-conspiracy claim — and backing his argument with intelligence records and open-source material — Gonzalez writes that, “From training Marxist terrorists in the 1960s, to the pro-Hamas mayhem at U.S. universities in 2024 and 2025, to the spread of transnational crime syndicates in U.S. cities, Cuba’s rulers have long plotted America’s demise.”

Heritage can be viewed as an ideologically driven, controversial, strongly conservative-leaning institution, but its work can also carry added signaling value in a Trump-era Washington because it often functions as a personnel and policy pipeline.

CIA Director John Ratcliffe has had ties to Heritage and helped shape Project 2025-era thinking on intelligence reform—linking the report’s framing to currents inside the administration itself.

Heritage’s new Cuban influence report is framed as a 60-year flow chart, structured around a turning point in Havana’s own revolutionary mythology: the Tricontinental Conference.

In 1966, Fidel Castro convened revolutionary movements, party cadres, and aligned delegations from Africa, Asia, and Latin America in Cuba to coordinate what the regime cast as a global campaign against “Yanki imperialism” — and what Gonzalez depicts as a blueprint for exporting upheaval through training, financing, propaganda, and the patient building of transnational networks.

Most readers will seize on the report’s most recent — and most incendiary — contention: that Black Lives Matter and other leftist social-justice groups did not merely ride the wave of outrage after George Floyd died in May 2020, during a police arrest in Minneapolis, but helped accelerate and channel it in ways that, in Heritage’s telling, served a longer-running Cuban strategy of political destabilization.

To support that framing, the report points to what it describes as coordination across the Western Hemisphere — Chile, the United States, and Colombia — from 2019 to 2021.

It contends there is “much evidence of Cuba and Venezuela attempting to destabilize the United States and its allies in the Americas,” and coordinating those efforts through the Foro de São Paulo (the São Paulo Forum), which Heritage depicts as a Marxist convening infrastructure that reactivated in 2019, including a New York gathering attended by aligned activists and representatives of leftist political parties across Latin America.

“From that point on,” Gonzalez writes, countries in the Western Hemisphere “suddenly started experiencing street riots that led to political change.”

Chile and Colombia saw major protests in 2019; protests in Colombia were “repeated and magnified” in 2021. Both, the report says, contributed to electoral outcomes — with the election of Gabriel Boric in Chile and Gustavo Petro in Colombia.

In the United States, Gonzalez writes, the George Floyd riots in 2020 “almost came close to leading to societal overhaul.” He adds that, aside from what he describes as the long-standing relationship between BLM and Maduro — and between BLM and Bolivia’s Evo Morales — Black Lives Matter has “taken parts in Foro conferences,” including one in the Washington, D.C., area on July 17, 2017, where one of the stated goals was to create “strategic links” with groups inside the United States.

To ground that claim, Gonzalez leans heavily on a prior Heritage special report from 2024 that examined what it called an interlocking “ecosystem” of organizations behind pro-Palestinian protests and parts of the Black Lives Matter movement.

In that earlier report, Heritage highlighted the People’s Forum in New York, led by Manolo De Los Santos, portraying him as a Cuba-aligned organizer who helped build movement infrastructure and, according to Heritage, mobilized activists ahead of the April 2024 takeover of Hamilton Hall at Columbia University.

Separately from the new Heritage report, open-source monitoring of the online narrative in the hours following Maduro’s extraction pointed to the same organizing source driving a storyline of “kidnapping,” illegality, and U.S. imperial overreach — including messaging from the People’s Forum and its director, self-acknowledged Marxist Manolo De Los Santos.

Within hours, similar language appeared in statements from prominent U.S. left figures — among them New York City Mayor Zohran Mamdani, who publicly condemned the operation and characterized it as unlawful.

The new Heritage report expands the frame: it argues that the São Paulo Forum has extended its outreach to U.S. groups invited to conferences over the years — naming, among others, Black Lives Matter, Democratic Socialists of America, Code Pink, and the ANSWER Coalition — and portrays these connections as part of a deliberate strategy to create “strategic links” inside the United States.

Some of the report’s most serious allegations rest on contested or difficult-to-verify claims drawn from opinion journalism rather than court records.

One example is a 2025 Washington Examiner column by Heritage report author Gonzalez that cites an unnamed former Venezuelan official claiming that Hugo Chávez personally provided suitcases of cash — the source estimates “at least $20 million” — to a U.S. activist before she went on to co-found Black Lives Matter, describing it as funding meant to export street protests into the United States.

“Chávez ordered his people to hand the suitcases to them — suitcases filled with dollars, at least $20 million,” the defector told him, Gonzalez’s column says, adding that the purported defector “is cooperating with and providing evidence to the U.S. government on other subjects, particularly the close connection between the Cartel de los Soles narco group and the Venezuelan state.”

According to Gonzalez’s column, the defector claimed, “The meeting took place at the Miraflores presidential palace, in a huge suite called the Japanese Suite, where private meetings are held.”

Gonzalez presents that alleged episode as emblematic: the revolution as a transnational political-financial project with paid beneficiaries and operatives in the United States, not merely an ideologically motivated movement.

But the Heritage thesis is not primarily about money.

It is about intelligence tradecraft — and the report’s central claim is that Cuban operatives embed themselves within allied regimes to “coup-proof” leaders by monitoring militaries and securing palaces, often maintaining loyalty to Havana rather than the host nation.

Gonzalez cites a 2024 essay by former Mexican foreign minister Jorge G. Castañeda arguing that thousands of Cubans have been stationed in Venezuela over the years — including security advisers and intelligence agents — to help keep Maduro in power, and that this Cuban presence may have constrained Maduro’s room to maneuver as U.S. pressure intensified.

The report’s historical flow chart then moves into Central America, leaning on Washington’s own record as evidentiary scaffolding.

Gonzalez highlights a 1978 U.S. State Department analysis written a year before the Sandinistas toppled Nicaragua’s dictator Anastasio Somoza. The document, as quoted in the Heritage report, said that “since the FSLN (Sandinista National Liberation Front) was formed in the early 1960s,” the Sandinistas “have looked to Cuba for ideological inspiration, strategic guidance, tactical training, material support, and sanctuary,” and that “throughout the FSLN’s existence, Cuba has been a training site.”

The report argues that Havana’s method then evolved — not away from revolutionary ends, but away from overt insurgency as the primary tactic.

Gonzalez leans on what he presents as the São Paulo Forum’s blueprint “formula” for leftist politicians in the Western Hemisphere: de-emphasize Marxism, run as reformers, win elections — and then, once in office, rewrite the rules. He points to Colombia’s current president, Gustavo Petro, as both a contemporary example and, in the report’s telling, an unusually candid witness to earlier Cuban involvement.

Petro, a former member of the leftist insurgent group M-19, is quoted as saying: “Fidel Castro helped M-19 in many of its Colombian actions and, we should admit it, M-19 troops trained in Cuba.”

Petro — who, in recent weeks, has also shown signs of seeking a détente with Washington, softening some of his fiercest rhetoric — had previously, in what Gonzalez calls a “loose-lipped” moment, “also revealed that Mexico’s new President Claudia Sheinbaum was also a secret M-19 asset,” quoting Petro calling her “a collaborator and militant of M-19 in Mexico.”

From there, Gonzalez lists what he presents as the cascading regional success of Castro’s influence model: “This formula worked in 1998 in Venezuela with the election of Hugo Chavez, the (São Paulo Forum’s) first triumph and a dictator who went on to use his country’s oil wealth to keep Castro’s Cuba afloat.” Lula was elected in Brazil in 2003; Evo Morales in Bolivia in 2005; Rafael Correa in Ecuador and Manuel Zelaya in Honduras in 2006; and Ollanta Humala in Peru in 2011 — “all Marxists,” the report says, who “obscured their ideology and ran as reformists,” and all São Paulo Forum participants.

Taken together, the report advances a unifying thesis: social unrest, street violence, and narco-terror cannot be understood as separate problems. They are instruments — in this view — of an intelligence-led revolutionary strategy refined over six decades, updated for the age of social media and protest politics, and funded for years by Venezuela’s oil.

That thesis also reads as a political finger to the wind — one that seems to match the rhetoric coming from the White House now: that the Trump administration’s Venezuela operation is not the end of a campaign, but the opening move in a broader rollback of Marxist-aligned regimes.

What the report does not do — and cannot do, on its own — is prove a single controlling hand behind every riot, protest, or crime wave in the United States since 2020. It assembles a narrative from history, open sources, and United States government statements, then asks readers to see continuity.

Tyler Durden Wed, 01/14/2026 - 18:30

Liberal Think Tank Urges Democrats To Ditch 'Abolish ICE' Rhetoric Ahead Of Midterms

Liberal Think Tank Urges Democrats To Ditch 'Abolish ICE' Rhetoric Ahead Of Midterms

A center-left think tank is urging Democrats to abandon the "Abolish ICE" rallying cry, warning that the slogan threatens to sabotage any chance at immigration enforcement reform while playing directly into Republican hands.

Demonstrators gather in Minneapolis on January 7, 2026 after an ICE agent shot and killed Renee Nicole Good.

Third Way released a memo on Tuesday responding to a surge of progressive demands to eliminate Immigration and Customs Enforcement (ICE) following the fatal shooting of 37-year-old anti-ICE activist Renee Nicole Good by an ICE agent in Minneapolis after she attempted to run the agent over with her vehicle. 

While the memo acknowledges that many Democrats see the Trump administration's immigration policies as excessive and lawless, it also warns that frustration cannot justify scrapping enforcement altogether. 

The group argues that Democrats need to distinguish between reforming abusive practices and destroying the institution responsible for upholding immigration law.

“Moments like this can and should provoke anger and demands for dramatic action,” the memo explains. “In the wake of Good’s death and a growing number of disturbing immigration enforcement incidents, calls to abolish ICE have once again surged on the left. The impulse is emotional. The slogan is simple. But politically, it is lethal.”

The memo, authored by Sarah Pierce and Lanae Erickson, warns the Democratic Party that calls to abolish ICE “risks squandering one of the clearest opportunities in years to secure meaningful reform of immigration enforcement—while handing Republicans exactly the fight they want.”

The memo insists that “The goal is not to eliminate enforcement. It is to ensure enforcement is lawful, targeted, and worthy of public trust.”

The think tank even drew a direct parallel to the 2020 "defund the police" movement, which became toxic within the Democratic Party and likely cost them some seats in multiple cycles

Democrats have seen this movie before with calls to “defund the police” after lethal, law enforcement abuses that stoked racial tensions. We know how this movie ends.

Calls to abolish ICE follow the same script. It would be a tragedy built upon a tragedy if Democratic overreach allowed the inexcusable killing of Renee Good at the hands of ICE to be used to the advantage of Donald Trump and a Republican Party that is sympathetic to its excesses. Republicans understand this. They have deployed the “Abolish ICE” phrase to their advantage before and will use it as a political lifeline again.

It’s hard to argue that progressive slogans that sound anti-law enforcement don’t cost Democrats politically and shut down space for substantive policy change. And the think tank's argument rests on a pragmatic political calculation based on the most recent national election. Voters responded to what they perceived as weak enforcement under President Biden. 

What Third Way misses is that Trump is following through on his campaign promise to launch the "largest deportation program in American history" if elected. They see an opening for Democrats to stake out the middle ground, focused on accountability and restraint, rather than abolishing the agency.

"The lesson is clear: when the debate sinks into polarizing slogans that read as anti-law or anti-safety, space for practical reform disappears," the memo warns.

But what we’re seeing nationwide reflects a party with no interest in the middle ground. Blue states and cities have declared themselves sanctuaries for illegal immigrants, and local leaders are actively pushing for ICE to leave their jurisdictions, not tone down their activities. 

"Immigration laws are meaningless if they are not enforced," Third Way argues. "And they can be enforced in ways that protect public safety, respect legal norms, and uphold civil liberties. Voters understand this."

While voters get it, Democrats in Washington, D.C., do not.

But not everyone in the party is on board. Rep. Ayanna Pressley (D-Mass.) recently reiterated her position that ICE should be abolished, not reformed.

 Speaking on MSNOW this week, Pressley made it clear she doesn’t believe ICE should exist.

"I will continue to demand an independent and thorough investigation, continue to call on Congress in this moment to use appropriations and the power of the purse to rein in ICE," Pressley said. "Again, I believe it should be abolished. We need public hearings and accountability."

It’s doubtful Democrats will shift toward a more moderate stance on immigration enforcement. Democrats have clearly signaled that their priority is to resist Trump at every turn, not to compromise.

Tyler Durden Wed, 01/14/2026 - 18:10

Obamacare Enrollment Trails 2025 By Less Than Expected

Obamacare Enrollment Trails 2025 By Less Than Expected

Authored by Lawrence Wilson via The Epoch Times (emphasis ours),

Plan selections in the Affordable Care Act Marketplace were 3.5 percent behind 2025’s number with two weeks left in open enrollment, but the drop-off has not been as severe as some analysts predicted.

An Affordable Care Act sign sits in front of an insurance agency in Miami on Nov. 12, 2025. Joe Raedle/Getty Images

Some 22.8 million people had selected a plan by Jan. 3, about 830,000 fewer than at the same point in 2025. The program, popularly known as Obamacare, appears on track for its second-highest enrollment ever.

The open enrollment period began on Nov. 1, 2025, and ends on Jan. 15 in most states. During open enrollment, anyone can sign up for Obamacare. Outside that period, only those who report a qualifying life event such as a birth, divorce, or job change can enroll.

The decline for 2026, if it continues through the final weeks of open enrollment, will mark the first drop in participation since 2020.

Subsidies Boosted Enrollment

Since its inception, Obamacare enrollments started slower than predicted, taking three years to reach 12.7 million in 2016. From there, enrollment decreased by about 10 percent over four years.

Enrollment was bolstered by enhanced subsidies starting in 2021, more than doubling to 23.4 million by 2025.

The scheduled expiration of the enhanced subsidies in December 2025 sparked heated debate in Congress on the affordability of the program without them.

Congressional Democrats sought to make the enhanced subsidies permanent. That effort failed to advance in the Senate despite Democrats’ willingness to withhold federal government funding throughout the fall in an attempt to force negotiations.

The enhanced subsidies were implemented in 2021 as a two-year measure to ensure the affordability of health coverage during the COVID-19 pandemic era. They were later extended through 2025.

Health insurers judged that middle-class Americans who had opted into Obamacare in recent years would opt out again when the subsidies expired, dramatically changing the risk profile of remaining enrollees and shifting it toward those with chronic conditions or higher medical needs.

In response, insurers raised premiums by an average of 27 percent, according to data from health policy research group KFF.

Drop Less Than Predicted

Many observers predicted a huge drop in enrollment in 2026 based on both the decrease in subsidies and the increase in premium costs.

Jason Levitis, senior fellow at Urban Institute, told senators in November that 4.8 million people would lose health coverage in 2026 if the enhanced subsidies expired, based on a report from his organization.

The expiration of the subsidies would “leave millions uninsured or forced to make impossible choices,” according to the Center on Budget and Policy Priorities.

Although the initial 3.5 percent drop of 830,000 enrollees is significant, it does not approach those predictions.

At 22.8 million enrollees, the 2026 figure is 12 percent ahead of 2024 and 43 percent ahead of 2023.

Over the past four years, the number of plan selections increased by an average of 3.7 percent during the final two weeks of open enrollment. In 2025, the increase was 2.4 percent.

On the current track, the number of 2026 plan selections would be the second-highest ever.

Further Decline Likely

Yet some analysts say there will be a further drop after open enrollment closes.

“While we do eventually expect to see declines in Marketplace enrollment, following the expiration of the enhanced premium tax credits at the end of 2025, it is too soon to tell how much it will change,” said Jared Ortaliza, a policy analyst at KFF studying the Affordable Care Act.

The data available now indicate marketplace plan selections, which become “effectuated” enrollments when consumers begin paying premiums.

The vast majority of 2026 plan selections so far—20 million—are 2025 customers who were automatically reenrolled in the plan, according to the Centers for Medicare and Medicaid Services.

Those automatic plan selections do not always become premium-paying enrollees, according to Ortaliza.

“The extent of [Affordable Care Act] enrollment changes likely won’t be known until this summer, when effectuated enrollment data are typically released,” he said.

In 2025, the number of effectuated enrollments was about 4 percent less than the number of plan selections.

Brian Blase, president of Paragon Health Institute, theorized that much of the decline in plan selection, and a likely further decline in effectuated enrollments, is attributable to improper or fraudulent enrollments.

“The decline in enrollment from ’25 to ’26 means that some of the fraudulent enrollment exited the market,” Blase wrote on social media.

Blase estimated that about 5 million enrollments in 2024 and 6.4 million in 2025 were improper, with many being fraudulently enrolled in plans with $0 premiums. He said many will disappear as people do not effectuate coverage, which involves paying a premium.

“This means that people who are unaware of their enrollment, in other coverage, or ‘fake’ people will not pay their share of the premium and should (assuming insurers follow the rules) be removed,” Blase wrote.

An effort to reinstate the enhanced subsidies is ongoing in Congress.

Open enrollment in Kentucky and Maine closes on Jan. 16 and in Massachusetts on Jan. 23. Open enrollment closes in California, New Jersey, New York, Rhode Island, Washington state, and Washington on Jan. 31.

Tyler Durden Wed, 01/14/2026 - 17:30

Is It Time To Realign State Borders?

Is It Time To Realign State Borders?

Authored by John Kudla via American Thinker,

Let’s pretend you are a liberal living in a red state.  If you feel aggrieved about the condition of the world and believe that conservatives are to blame, you can find a few like-minded souls, print up some signs covered in half-clever phrases, and go protest.  In most cases, unless you chain yourself to a railing on the courthouse steps or attack the police, you will usually be ignored.

Image: Don Hankins via Flickr, CC BY 2.0 

On the flip side, let’s pretend you are a conservative living in a deep blue state.  If you don’t like the school policy, E.V. mandates, high electricity prices, or restrictive gun laws, and you dare to complain, not only will you not be ignored, but you might be harassed, shunned, or canceled.  Your solution to the hard blue insanity is a four-letter word: move.

Now let’s pretend you live in a state with a blue megalopolis somewhere over the horizon, but you don’t want to move.  Let’s also pretend you have lived in your community all of your life and have roots there — a job or a farm or a business that would be difficult to replicate somewhere else.  Why should you suffer because once upon a midnight dreary, councilors to a long dead king or a few drunk senators drew a line on a map that ignored rational boundaries?

Generally speaking, I don’t have a problem with people living the way they want to.  That is called freedom.  However, I object to some of our more right-leaning or left-leaning citizens forcing their ideas on everyone else, then treating those who disagree with them as second-class citizens.  In some cases, this has prompted states to heavily gerrymander congressional districts, which disenfranchises both liberal and conservative voters.  One solution is to adjust state boundaries to more adequately reflect local political values.

Ever since the founding of the republic, various groups and political movements have sought to redraw state boundaries.  Some have been successful.  Maine was originally part of Massachusetts, and the states of Kentucky and West Virginia were created from land originally part of Virginia.  Other partitions to existing boundaries have been suggested, but none has been adopted.  The reason is that the Constitution requires both the blessings of the partitioned state and the U.S. Congress.

Ask yourself a simple question.  Why would any state governor or legislature willingly give up territory if it is not forced to?  The serfs — excuse me, taxpayers — there help balance the state budget.  How they feel about their lives or the number of potholes in their roads is secondary to ensuring that state budgets are met and the state programs, even those for non-citizens, continue.

Despite the obstacles, secession movements continue.  Let’s look at three of the more recent secession ideas.

In 2014, residents of western Maryland, reportedly unhappy with taxes and gun control policy, started signing petitions to secede from Maryland and form a new state.  Later in 2021, Republican lawmakers in Allegany, Garrett, and Washington counties in Maryland sent a letter to the West Virginia legislature asking if the Mountain State would be willing to annex them.

The Maryland panhandle, an artifact of English colonial land grants, is a mountainous area more similar to West Virginia than the rest of Maryland.  The three counties have a combined population of just over a quarter of a quarter million.  That is probably not enough to take a congressional seat from Maryland or give one to West Virginia.  Will it change the U.S. political structure if these counties are allowed to switch states?  Not really.

The state of Oregon is divided almost in half by the Cascade Mountain Range.  The majority of the population lives on the western or Pacific Coast side of the mountains, either in the city of Portland or towns in the Willamette Valley.  In 2021, five counties in eastern Oregon, unhappy with the liberal state government, voted to take steps to secede from Oregon and join Idaho.

By 2024, a total of thirteen Oregon counties had voted to join Idaho.  The population in these counties is roughly 240,000, or about 5.5% of Oregon’s population — again, probably not enough to change the number of congressional seats between the states.

A third secession movement is active in Illinois.  Since 2011, more than one attempt has been made to separate the city of Chicago from the rest of Illinois or individual counties from the state.  The issue here is the dominance of Chicago and Chicago politics over the rest of Illinois.  As of 2024, 33 counties had voted to secede, about a third of the state’s counties.

In 2025, lawmakers in Indiana discussed annexing those counties, although only twenty-seven of them are contiguous with the Indiana border.  The others are on the western side of Illinois and would be a better fit with Missouri.  The twenty-seven counties represent nearly half a million residents.  This would almost certainly take a congressional seat from Illinois and add one to Indiana.

Besides liberal political values, another reason people are moving from blue states or seeking to join red states is that blue states typically have higher tax burdens than red states.  Call it an issue of affordability. 

There is an easy way to check this.  Let’s take the median income in the U.S., which was roughly $84,000 in 2024, multiply it by the average tax burden in the blue state of origin, do the same for the red state destination, and then subtract the two numbers.

The following results are based on a combination of income taxes, property taxes, and sales taxes.  If the Oregon counties join Idaho, residents earning $84,000 would save about $250 per year, or about 0.3 percent of their income.  If the Illinois counties join Indiana, their residents would save over $750 per year or about 0.9 percent of their income.  And if the three Maryland counties joined West Virginia, residents there would save about $924 per year or about 1.1 percent of their income.  Remember, these are ballpark numbers and will change depending on income and other individual circumstances.

As the country approaches the 250th anniversary of its founding, perhaps it is time to consider a constitutional amendment to facilitate changes to state boundaries.  After all, most of our state boundaries were arbitrary to begin with.

Counties wishing to become a separate state would have to follow the rules for statehood.  Imagine Chicago as the 51st state, along with New York City plus Long Island as the 52nd.  Upstate New York and downstate Illinois could then breathe a sigh of relief.

Until then, you can still move.

On a similar note, I hear the Canadian province of Alberta is thinking about leaving Canada.  Maybe Trump can talk the Canadians into a straight-up swap of Alberta for Minnesota.  It couldn’t hurt to try.

Tyler Durden Wed, 01/14/2026 - 16:30

Need To Escape Socialism? Come To Florida!

Need To Escape Socialism? Come To Florida!

Authored by Jeffrey Folks via American Thinker,

The difference between red and blue states is not just a matter of degree; it is a qualitative difference based on the loss of freedom in blue states and an entirely different attitude in the red states.  The best example is the contrast between what now exists in New York and Florida.  Whereas New York, especially New York City, is slipping into a socialist nightmare, Floridians are living the dream.  In New York, freedom is constrained by high taxes and regulations, and things are only getting worse.  In Florida, taxes are low and getting lower, and the sun almost always shines.

Image: Donkey Hotey via Flickr, CC BY 2.0.

Florida voters understand the importance of limited government, and they have created a well governed, fiscally sound state.  Eliminating the state income tax in its entirety was only the beginning: Now there is movement toward lowering property taxes or eliminating them altogether, which would benefit nearly everyone in the state.

Gov. Ron DeSantis is perhaps the biggest supporter of property tax reform.  The governor proposed eliminating property taxes for all Floridians in his 2025 State of the State address, in which he said forcing citizens to pay property taxes for life is like “renting one’s property from the government.”  The governor’s proposal would apply to all property, including commercial and rental property.  There is widespread support for some form of property tax relief, but the devil is in the details.

An interim plan to rebate approximately $1,000 to owners of primary residences was proposed in March 2025.  In response, Senate Bill 7034 was introduced to create a legislative commission to study the feasibility of eliminating all or part of the state’s property taxes and with the likelihood of a state constitutional amendment to appear on the 2026 ballot.  Other legislative proposals include an increase in the state’s homestead exemption (currently totaling $50,000 for the primary residence), a tax exemption of $100,000 on all types of property, or a reduction in the state’s sales tax.  Republican lawmakers generally support some form of tax relief, whereas Democrats oppose it, but since Republicans outnumber Democrats by 84 to 33 in the state House and 27 to 11 in the Senate, it seems likely that some form of tax reform will become law.

Meanwhile, states like California and New York are moving the opposite direction.  The marginal income tax rate in California is 12.3%, and this on top of state property taxes, sales taxes of 7.25%, and numerous other local taxes and fees.

As for New York, the statewide income tax is a marginal 10.9% (14.78% for high earners in New York City), with state and local sales taxes as high as 8.875%, property tax rates averaging more than twice those in California, and numerous other state and local taxes and fees (including a ludicrous $9 “congestion zone” fee for entering lower Manhattan).  On top of this, New York is one of a handful of states that still charges a death tax, with a marginal rate of 16% on qualifying estates, and this on top of the marginal federal estate tax of 45%.

Mayor Mamdani has vowed to raise corporate taxes from 8.85% to 11.5% and to impose a 2% surcharge on those earning over one million, on top of existing taxes.  According to the Cato Institute, “the income-tax increase would tempt high earning New Yorkers to relocate to Long Island and the lower Hudson Valley, where they can still be close to the city,” if not out of state altogether.

To recap, Floridians pay a total of 6% in state taxes and average property tax rates that are already half of what they are in New York and may be further lowered in 2026 or 2027.  Adding it up, affluent New Yorkers pay marginal rates of at least 36% (including the estate tax) or nearly 40% in New York City — and all of this on top of federal income and estate taxes.  There is not much left for individuals, and this level of taxation is an assault on personal liberty.  There’s not much difference between communism, where the state owns everything, and an American city where government takes 80%.

One should also note that the public debt ratio in New York is already 442%, while California has twice as much debt in absolute terms ($500 billion).  Under Gov. DeSantis, Florida’s debt ratio is 2.6%, a 25-year low.

Clearly, New York and California are moving in the wrong direction, whereas Florida is moving very much in the right direction, and this because Florida is a well run conservative state filled with well informed voters.  What will be the effect of these continuing high and potentially higher taxes in blue states?  Migration of wealthy and middle-class residents, and it’s already happening.  Affluent citizens are leaving New York “in a steady stream.”  Between 2019 and 2020 alone, nearly 10% of high earners left New York City.  More recently, the exodus has continued.

California is experiencing its own outward migration of wealthy and middle-class residents, and not merely for tax reasons.  California ranks 6th in the nation for “high violent crime” and 8th for property crime.  The cost of living is the third highest in the U.S.  Homelessness is at a record high, with 24% of the nation’s homeless living in California.  And California’s public schools, once near the top, now come out well below average.

One could cite many other blue states, including Illinois, as evidence of liberal mismanagement, and other red states like Texas and Tennessee for proof of sound conservative governance.  The fact is that all human beings want much the same thing: safety, security, prosperity, and freedom (including freedom from government restrictions and high taxes).  Today in America, Florida offers that freedom.  New York and California do not.

In America, the red states are keeping the American Dream alive.  Personal liberty includes freedom from government confiscation of wealth, whether that confiscation takes the form of Soviet-style direct  confiscation or seizure through taxation.  Voters in New York and California have not learned the lesson that high taxes and regulation lower the quality of life and infringe on freedom.  Fortunately, we live in a country, unlike communist China or North Korea, where one can relocate freely to another state.  Freedom may be dying in New York, but the sun is still shining in Florida.

Jeffrey Folks is the author of many books and articles on American culture, most recently Heartland of the Imagination (2011).

Tyler Durden Wed, 01/14/2026 - 15:40

Trump Appears To De-Escalate Iran Rhetoric, 'Killing Has Stopped' - Oil Tumbles

Trump Appears To De-Escalate Iran Rhetoric, 'Killing Has Stopped' - Oil Tumbles

There are reports that President Trump is listening to the non-interventionists in his cabinet, as he says Wednesday afternoon he's been told that the killing in Iran is stopping, and with no plan for executions. WTI futures immediately dropped on the newswires: 

  • WTI fell from USD 62.30 to lows of 59.80/bbl over 7 minutes.
  • Brent fell from 66.80 to 64.20 over the same time frame.
  • With Trump noting Iran has no plans for executions, it drastically reduces the chances of the US attacking Iran, particularly a kinetic attack.
  • Expectations of an attack had been building today with reports suggesting it could happen within 24 hours, which saw crude gain throughout the session; several nations urged citizens to leave Iran.
  • S&P 500 ENERGY INDEX PARES GAINS AFTER TRUMP IRAN COMMENTS
  • Iran FM: There is calm, we are in full control, Fox News reports

Via Bloomberg... Trump has an "out" and Iran strikes appear to be off:

President Donald Trump said he had been assured that Iran would stop killing protesters, in a signal he could hold off on a threatened military response to the repression of widespread demonstrations in the nation. “We’ve been told that the killing in Iran is stopping - it’s stopped,” Trump told reporters Wednesday in the Oval Office. “And there’s no plan for executions or an execution.”

The US president said he would be “very upset” if the information proved untrue and the violent crackdown continued. The comments come after Trump urged Iranians to continue protests against the government of Supreme Leader Ayatollah Ali Khamenei and said he would “act accordingly” after being briefed on how many demonstrators have been killed. He posted on social media that “help is on the way” to those protesting in Iran.

Dangerous indicators there was (before this 'change of mind') about to be a strike?

The bulk of the US Navy's strike group has remained in the Caribbean Sea after the Trump-ordered Venezuela operation to oust Maduro, and there's as yet nothing to signal a new build-up of naval power in the Mediterranean or anywhere in the Central Command (CENTCOM) area of operations. However there are signs that logistics transport flights have increased.

However, there are other signs President Trump might be serious about an attack on Iran. Various news sources including Reuters is reporting Wednesday that the United States is pulling some staff out of major regional bases as a precaution amid rising tensions related to the Iran protests and a potential US military response.

via Associated Press

This comes after a senior Iranian official earlier stated that Tehran has warned neighboring countries hosting US forces that American bases would be targeted if Washington launched strikes.

Reuters writes, "Earlier today, some personnel were advised to leave the US military's Al Udeid Air Base in Qatar by this evening. Al Udeid is the Middle East’s largest US base, housing around 10,000 troops. Ahead of the US airstrikes on Iran in June some personnel were moved off US bases in the Middle East."

In the last instance where Iran faced attack by the US and Israel, Iran launched ballistic missiles at Al Udeid Air Base outside Doha. All or most were intercepted, with no reports of troop casualties. This attack occurred on June 23, one day after the US struck three Iranian nuclear facilities with deep penetrating bunker-buster bombs.

The aforementioned warning from a senior Iranian official stated as follows: "Tehran has told regional countries, from Saudi Arabia and the UAE to Turkey, that US bases in those countries will be attacked if the US targets Iran."

While the week started with talk of some kind of dialogue between Washington and Tehran toward de-escalation, Trump quickly changed his mind, and by Tuesday said he cancelled all meetings with Iranian officials, citing the brutal crackdown on protesters. He wrote on Truth Social that "help is on its way" for Iranians.

"Iranian Patriots, KEEP PROTESTING - TAKE OVER YOUR INSTITUTIONS!!! Save the names of the killers and abusers. They will pay a big price," Trump wrote.

"I have cancelled all meetings with Iranian Officials until the senseless killing of protesters STOPS. HELP IS ON ITS WAY. MIGA [Make Iran Great Again]!!!" he added.

However, there's ample evidence that many dozens of security personnel have been killed and wounded as well. Clearly in many locales rioters have deadly weapons, and Tehran says it is facing the beginnings of a foreign backed terror operation and insurgency.

But it should be obvious by now that organizations like the CIA, MI6, and Mossad are constantly looking for ways to take advantage of the situation and destabilize the country, ripening it for regime change. Trump has just dodged another interventionist disaster in the Middle East by choosing not to pull the trigger.

Tyler Durden Wed, 01/14/2026 - 15:26

"Everything's On The Table": JPM CFO Signals Possible Fight With Trump Over Credit Card Rate Cap

"Everything's On The Table": JPM CFO Signals Possible Fight With Trump Over Credit Card Rate Cap

Wall Street has benefited greatly from the Trump administration's economic policies and "Make America Great Again" agenda and has largely been supportive of the president. That relationship abruptly fractured last Friday when the president called for a one-year cap on credit card interest rates at 10%.

All it took was President Trump's Truth Social post prioritizing working-class Americans over Wall Street, in which the president said, "AFFORDABILITY! Effective January 20, 2026, I, as President of the United States, am calling for a one-year cap on credit card interest rates of 10%," to put big bank CEOs on notice, with some now preparing to mount a fight against the White House.

Leading that charge appears to be JPMorgan Chase CFO Jeremy Barnum, who signaled during an earnings call on Tuesday that banks could challenge Trump's move to cap credit card interest rates for a year.

"If you wind up with weakly supported directives to radically change our business that aren't justified, you have to assume that everything's on the table," Barnum told analysts following JPMorgan's fourth-quarter earnings report (read here). "We owe that to shareholders."

Barnum argued that a rate cap would backfire by shrinking credit availability rather than lowering borrowing costs, ultimately hurting consumers, spending, and the broader economy. His warning echoed concerns raised earlier this week by UBS analysts Erika Najarian and Tim Chiodo.

"Our belief is that actions like this will have the exact opposite consequence to what the administration wants for consumers," Barnum said. "Instead of lowering the price of credit, we'll simply reduce the supply of credit, and that will be bad for everyone: consumers, the wider economy, and yes, at the margin, for us."

Additional color via X user The Transcript ...

The average U.S. credit card APR is about 20%, according to the latest data from Bankrate. Rates are much higher for subprime and store cards.

A stalled bill proposed by Josh Hawley and Bernie Sanders would have imposed a 10% cap for 5 years, versus Trump's 1-year cap. Consumer-heavy industries beyond banking warned of ripple effects of less credit in the system, such as Delta Air Lines.

House Speaker Mike Johnson urged caution, warning that efforts to lower costs could have unintended consequences: "We have a lot of work to go [on] consensus around it, but you got to be very careful as we go forward in that in our zeal to bring down costs ... you don't want to have negative secondary effects."

Read more about why UBS analysts say Trump's 10% one-year cap on credit card interest rates is "unlikely" here.

Trump's incoming fight with big banks on capping credit card rates is not unexpected given his administration's massive push for affordability this year.

Tyler Durden Wed, 01/14/2026 - 15:15

Minnesota Stealing: Reason To Rethink Government Welfare

Minnesota Stealing: Reason To Rethink Government Welfare

Authored by Larry Elder via The Epoch Times,

As for the estimated $8 billion in government (taxpayer) money stolen by crooks in Minnesota, people demand answers to many questions.

But the 800-pound elephant/question goes unasked: Why is government in the business of welfare in the first place?

Where in the Constitution does it permit the federal government to extract money from taxpayers for charity?

Years ago, I worked full time one summer as a “loaned executive” for the United Way of Cleveland. My job was to meet with CEOs of companies, tell them the story of the United Way and hopefully arrange for me to make a presentation to the company’s employees, take questions and then ask for donations.

Through this process, the United Way raised and donated money to other nonprofits involved in community activities such as preschooling, counseling “at-risk” youths, after-school academic programs, care for the sick and elderly and youth sports programs, among other local initiatives. There was a rigorous application process before the nonprofit could receive any money. There was regular and rigorous follow-up to make sure the money was spent properly and efficiently based on previously agreed-on criteria. If, after receiving funds, the nonprofit did not meet these goals, it lost its funding.

The reason for the rigorous review and follow-up was simple. Donors are more likely to give if they feel their money is being spent effectively to achieve the promised result. In fact, “How do I know my money will be spent properly?” was my most frequently asked question.

Because so many worked for the United Way as volunteers, as I did, nearly 90 percent to 95 percent of each dollar donated reached the intended beneficiaries. Government welfare programs, riddled with waste, fraud and abuse, do not come close to this level of efficiency.

Government welfare represents what economist Milton Friedman called the least efficient, least effective and most wasteful spending: somebody else’s money on somebody else. Through most of our country’s history, charity was people to people—house of worship to people, nonprofit to people—not government to people.

James Madison, known as the Father of the Constitution, opposed a 1794 bill that would appropriate $15,000 for French refugees. “I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents,” Madison said.

In 1831, Madison said: “With respect to the words ‘general welfare,’ I have always regarded them as qualified by the detail of powers (enumerated in the Constitution) connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators.”

Frenchman Alexis de Tocqueville, who traveled to America in the 1830s, marveled at the large number of volunteer “mutual aid societies.” Tocqueville wrote: “Americans of all ages, all conditions, all minds constantly unite. ... Americans use associations to give fetes, to found seminaries, to build inns, to raise churches, to distribute books, to send missionaries to the antipodes; in this manner they create hospitals, prisons, schools. Finally, if it is a question of bringing to light a truth or developing a sentiment with the support of a great example, they associate.”

There is a question of whether no-questions-asked public welfare induces dependency and negatively affects the work ethic. A Center for Immigration Studies profile of Somalis in Minnesota found nearly half of working-age Somali adults who have lived In American more than 10 years cannot speak English “very well.”

You cannot watch television without seeing a pitch for money for wounded soldiers, for police officers and firefighters wounded in the line of duty, for a children’s hospital that does not charge patients, for cats and dogs in need of rescue and so on. Imagine the solicitations in a world where government got out of the business of welfare and allowed its citizens, the most generous in the world, to step in and step up.

Private welfare, compared to public welfare, is less likely to create a sense of entitlement, will get a bigger bang for a buck and is less dependency-inducing than no-questions-asked public welfare.

Tyler Durden Wed, 01/14/2026 - 14:50

Nuclear Reactors On The Moon By 2030

Nuclear Reactors On The Moon By 2030

First it was data centers in space. Now it's nuclear reactors on the moon.

The global space race is heating up again, but it’s more than about just reaching the moon. International partners are teaming up to develop and establish remote posts on the moon utilizing nuclear reactors as the primary energy supply. The Russians are teaming up with the Chinese, the French are teaming up with the Italians, and the Americans are teaming up with… well, more Americans.

The US announced an intention to develop lunar nuclear reactors last summer along with a similar announcement from China and Russia. This was eventually followed up with an executive order titled Ensuring American Space Superiority which explicitly directed the initial establishment of a permanent lunar outpost, including the launch of a lunar reactor, by 2030.

The latest development involves the DOE and NASA signing an MOU to collaborate on deploying reactors on the moon. Instead of pairing up with an international ally in the same way other countries have, the US intends to accomplish this new mission on its own.

“History shows that when American science and innovation come together, from the Manhattan Project to the Apollo Mission, our nation leads the world to reach new frontiers once thought impossible,” said U.S. Secretary of Energy Chris Wright. “This agreement continues that legacy.”

It’s important to note that this is not the first time moon reactors have been discussed. Years ago, NASA launched a fission surface power project with the target of deploying a 40 kW reactor on the moon. The concept introduces unique challenges: due to the low gravity, the fluids used for coolants won’t behave exactly as they do on earth, and surface temperature swings on the moon introduce additional problems on top of that.

Premium subs are already well informed on the potential participants in the new space race, but this latest venture for deploying reactor technology on the lunar surface introduces new potential beneficiaries.

The earlier moon reactor program incorporated six major participants organized into three teams: Lockheed Martin paired with BWXT, Westinghouse joined Aerojet Rocketdyne, and X-energy teamed up with Intuitive Machines.

Given the environment on the moon, the reactor is most likely to be a high-temperature, gas-cooled design, limiting the field of possible reactor developers. There are other novel concepts being developed by companies like Antares Industries, but here are some potential public market participants to consider: BWXT, Westinghouse (Cameco), Lockheed Martin, Northrop Grumman, Boeing, Nano Nuclear, and Terra Innovatum.

Tyler Durden Wed, 01/14/2026 - 14:10

In Some Minnesota Schools, The Focus Is Reading, Writing, And Resistance

In Some Minnesota Schools, The Focus Is Reading, Writing, And Resistance

Authored by Aaron Gifford via The Epoch Times,

In the Twin Cities, schools play a key role in fostering a culture where resistance and anti-authoritarianism thrive.

A Minneapolis charter school located near where 37-year-old Renee Nicole Good was shot and killed last week by an Immigration and Customs Enforcement (ICE) agent is centered on social justice and has a long history of left-wing political activism, according to its website.

“We integrate social justice into every grade level, telling the stories of the people, not the people in power, and helping students understand history and their role in making the world a better place,” says the website for Southside Family Charter School.

The ongoing ICE protests coincide with a new statewide mandate requiring ethnic studies, which the state Department of Education defines as analyzing ways in which “race and racism have been and continue to be social, cultural, and political forces, and the connection of race to the stratification of other groups.”

Around the time of the Black Lives Matter protests in 2020, several schools in Minneapolis and St. Paul took it upon themselves to require one high school semester of ethnic studies courses before it became a state mandate.

The ethnic studies offerings in the Minneapolis district currently include a course on race and identity, and “culturally sustaining” African American, Chicanx/Latinx, American Indian, Asian American, Hmong, and Somali studies, according to its website.

Moreover, private schools and taxpayer-funded charters like Southside attract families seeking more progressive social justice-related curriculum than the public schools offer.

“Activist-bent parents chose the school knowing what they’re going to get,” Katherine Kersten, a senior fellow at the Minnesota-based Center of the American Experiment think tank and policy center. “Kids are being told to study left-wing activism and view the activists as models to follow.”

Other Twin City area schools that prioritize social justice beyond the level of traditional public schools include the St. Paul School of Northern Lights, the Angela Day School for Liberation and Progressive Education, and the Prairie Creek Community School.

Kersten said “identity and resistance” are two main pillars of the ethnic studies mandate. Approved instruction for stand-alone high school ethnic studies courses that must be implemented ahead of the fall semester—in addition to the embedded requirement for all other subject areas in K–12, as they are reviewed and then updated periodically—most likely include definitions and examples of identity and resistance, she said.

University of Minnesota’s Center for Race, Indigeneity, Disability, Gender, and Sexuality Studies developed a free curriculum for the state mandate endorsed by teachers unions and state officials. Its middle school instructional materials, “Protest Art & the Movement for Black Life,” require students to learn about the 13 guiding principles of the Black Lives Matter movement, create protest art “for a cause of their choice,” and “describe how mural artists transformed the landscape of Minneapolis during the 2020 Uprising,” according to the center’s webpage.

This kind of classroom rhetoric only emboldens anti-authoritarian sentiment in the community, even if protesters don’t fully understand their cause, Kersten said.

“We’ve seen people crossing the line, and destruction of property, and our elected leaders are encouraging this—[saying] that authority figures are racist and that this resistance is noble,” she said. “To have the state working with and relying on some of the most extreme, self-interested activists to create standards is so egregious.”

Kersten’s organization is urging public school districts across Minnesota to consider less extreme instructional materials that are endorsed by nonpartisan academic institutions and will still meet the state requirements, including 1776 Unites and the Foundation Against Intolerance and Racism (FAIR), both of which oppose identity politics.

The Center for the American Experiment recently presented its suggested instructional materials to Anoka-Hennepin schools, the largest district in the state, and was greeted outside by a long line of protestors summoned from Minneapolis and St. Paul, Kersten said.

“Anyone who criticizes is automatically called a racist,” she said, adding that, beyond a few parents who took advantage of a state law that allows them to opt their child out of instructional materials they find objectionable, there has been very little pushback against Minnesota’s ideological education movement.

“It’s so damaging to celebrate these events as a great Civil Rights statement,” she said. “It’s important for schools to push back and make the case for reasonable academic learning.”

In social media posts last week, Rep. Buddy Carter (R-Ga.) called on the executive branch to revoke all federal funding to the Southside Family Charter School.

“This institution radicalizes students and pushes a left-wing agenda that demonizes ICE agents,” his Jan. 9 posts on Facebook and X said. “The federal government should not subsidize anti-American education.”

The Epoch Times reached out to the Southside Family Charter School, Gov. Tim Walz’s office, the Minnesota Department of Education, and the Minneapolis and St. Paul school districts. No responses were received in time for publication.

Tyler Durden Wed, 01/14/2026 - 13:55

Trump Freezes All Visa Processing For 75 Countries: The Full List

Trump Freezes All Visa Processing For 75 Countries: The Full List

The US government announced Wednesday it will pause or suspend immigrant visa issuance for 75 countries, with Iran among the countries listed, at a moment President Trump is said to be mulling some kind of US military intervention after two weeks of protests - but which largely seemed to have died down at this point.

The new visa pause order will take effect January 21, and will also impact Iraq, Russia, Afghanistan, Brazil, Egypt and Nigeria, and dozens of others.

"The State Department will use its long-standing authority to deem ineligible potential immigrants who would become a public charge on the United States and exploit the generosity of the American people," State Department spokesperson Tommy Piggott said in a statement. 

"Immigration from these 75 countries will be paused while the State Department reassess immigration processing procedures to prevent the entry of foreign nationals who would take welfare and public benefits." Somalia and Minnesota should of course come to mind in this context.

A State Dept memo "directs consular officers to refuse visas under existing law while the department reassesses screening and vetting procedures."

According to Fox News, the full list of countries includes the following in alphabetical order...

Afghanistan, Albania, Algeria, Antigua and Barbuda, Armenia, Azerbaijan, Bahamas, Bangladesh, Barbados, Belarus, Belize, Bhutan, Bosnia, Brazil, Burma, Cambodia, Cameroon, Cape Verde, Colombia, Cote d’Ivoire, Cuba, Democratic Republic of the Congo, Dominica, Egypt, Eritrea, Ethiopia, Fiji, Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea, Haiti, Iran, Iraq, Jamaica, Jordan, Kazakhstan, Kosovo, Kuwait, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Macedonia, Moldova, Mongolia, Montenegro, Morocco, Nepal, Nicaragua, Nigeria, Pakistan, Republic of the Congo, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Tanzania, Thailand, Togo, Tunisia, Uganda, Uruguay, Uzbekistan and Yemen. 

Some of these countries have been focus of geopolitical headlines of late - such as Nigeria, Somalia, and Syria - all subject to bombings of military operations by US forces.

But it's unclear why some like the Bahamas, Georgia, or Modolva would make the list. Presumably this also impacts Americans who have married or gotten engaged to someone abroad, and where said US citizen wants to bring them to the United States. But it's unclear as yet whether there will be exceptions made for certain categories of visas.

Already, visa services at embassies abroad have been very slow moving under Trump, but this ensures what will be a likely permanent backlog.

Tyler Durden Wed, 01/14/2026 - 13:40

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