Zero Hedge

Trump's Tariffs – History Has Lessons To Be Followed

Trump's Tariffs – History Has Lessons To Be Followed

Authored by Gregory T. Kiley via RealClearDefense,

Interesting times.  Just one month into President Donald Trump’s second term in office and one would be forgiven for feeling a little whiplashed.  From invoking and revoking Federal Government-wide Office and Management and Budget policy memoranda to announcing wide-reaching tariffs and then staying implementation those same tariffs, Trump’s second tour White House has started eventfully.   

Hopefully, at least as far as Trade Policy is concerned, once personnel are in place, deliberate, rational, and thoughtful trade and trade negotiations will continue that seeks the long-term goals established by the president, while also helping American businesses in the short term to better fight back, level the playing field, and win here in the U.S. market with American consumers.   

On President Trump’s first working Monday in office his Office of Management and Budget released a memorandum freezing all federal financial assistance and grants.  This might have been a well-meaning attempt for the new Administration to review federal spending priorities, but such a blanket call to freeze funds was unprecedented and confusing to those not consulted – including the other branches of government. Within hours, OMB rescinded the far reaching, over broad memo, but will continue their review of funding – as they rightfully should.

On Tariffs, the Presidential-candidate Trump ran on his plan to utilize tariffs as a tool of foreign policy, economic policy, and to Make America Great Again.  It should have come to no surprise that one of the first acts now President Trump did was to threaten the country of Columbia with tariffs if they did not accept back illegal aliens that our government plans to return. Columbia caved on the threat and accepted the returnees.  

Next has come a broad 25 percent tariff on Canada and Mexico announced January 31st, 2025. Purportedly tied to the excessive funneling of illegal fentanyl drugs into the United States, within hours of implementation, Mexico has agreed to send troops to the border to stop illegal immigration, resulting in at least a month delay in imposing the 25 percent tariff on Mexico goods. Canada similarly agreed to work with the Trump Administration to stem the flow of illegal drugs in exchange for a halt to implementation of tariffs.

Bold actions, some positive results, however, a better model could be found in the careful, deliberate negotiated approach of 2017-2020 Trump White House and Team.  

Still, with the confirmation of Secretary of Treasury Scott Bessent, Secretary of Commerce Howard Lutnick and nomination of Jamieson Greer to serve as the U.S. Trade Representative (USTR), President Trump has an experienced team coming to hopefully make judicious use of Tariff policy. 

Another thing the first Trump Administration got right was a laser focus on China and its predatory practices.  Trump’s team needs to continue pushing the goals and intentions of China tariffs – to increase domestic production and jobs across America over Chinese government-assisted and enabled entities.  The tariffs are designed to encourage more domestic production, making it at least as expensive to import from abroad over manufacturing domestically.

The tariff regime is broken if it can advantage Chinese companies while disadvantaging American companies. This is an inequity about the current tariff system that President Trump can fix.  One example is Milwaukee Tool, which contrary to popular belief is actually a Chinese company.  The Trade Alliance to Promote Prosperity in 2024 alleged the Chinese firm (like others) may not be paying its fair tariff share, taking advantage of America and hurting American competitors in the process.

Moving forward, this second Trump Administration should ensure the system doesn’t disadvantage American companies over their Chinese competitors that benefit from government subsidies. Trump should use his tariff authority judiciously, including the use of exemptions to help American companies battle back and, ultimately, invest more in the U.S. and create new manufacturing career opportunities in the process.  The same way the threat of tariffs gives the president leverage with world leaders; the use of targeted tariff exemptions can do the same to help American businesses grow strong again. 

These are indeed interesting times, and as the old English Phrase connotated, may we live up to their challenges.  The second Trump Administration has started with a bang, now the hard work of detailed negotiation and focused policy needs to follow.

Gregory T. Kiley, former senior professional staff member, Senate Armed Services Committee; and U.S. Air Force Officer

Tyler Durden Thu, 02/20/2025 - 23:25

As Pope Francis Enters 8th Day In Hospital, Vatican Suggests Possible Resignation

As Pope Francis Enters 8th Day In Hospital, Vatican Suggests Possible Resignation

Pope Francis has at this point spent over a week in the hospital in Rome, battling pneumonia in both lungs, and in the last 24-hours there have been reports that his condition is stable and has seen slight improvement.

The 88-year old Pontiff entered the hospital on Feb. 14 with worsening bronchitis, leading doctors to eventually diagnose pneumonia, and reports in the initial days were dire.

Via Associated Press

Archbishop Giuseppe Satriano of Bari gave an update on Francis' condition Thursday, saying "He's a fighter, and I believe he'll win this battle."

Satriano described that he is awake, eating, and doing some work from his hospital bed, and that blood tests show slight improvements in his inflammation levels. The official Vatican assessment as of Thursday night is that Francis' condition is "slightly improving" that he's free of fever.

Still, the severity of the episode has led to speculation over possible resignation:

In a memoir, Life: My Story Through History, published last year, Francis wrote, “I think that the Petrine ministry is ‘ad vitam’ [‘for life’] and therefore I see no conditions for a resignation”, only to add in the next sentence, “things would change if a serious physical impediment were to arise”.

As the pontiff enters his eighth day in hospital on Friday, suffering from pneumonia in both lungs, Vatican watchers are wondering just how serious Francis, 88, thinks that physical impediment has to be.

On Thursday evening, the Vatican said that Francis’s condition was “slightly improving”, adding that his heart and circulation were in good shape and that he was free of fever and able to work.

However, in an interview on Italian radio, the senior Vatican cardinal Gianfranco Ravasi broached the topic on everyone’s mind and claimed: “I think he could [resign] because he is a person who, from this point of view, is quite decisive in his choices.”

This is the first time in his pontificate that the issue of resignation has been raised by a senior Cardinal. However, if he exits the hospital soon this is unlikely, as Pope's traditionally serve till death. It is extremely rare for a Pope to step down, with his predecessor Pope Benedict XVI having been one of the exceptions to the historic rule.

Newsweek commented, "The possibility of resignation resurfaced when Cardinal Gianfranco Ravasi noted that if Francis' ability to engage directly with people was compromised, he might consider stepping down."

Conservative and traditional Roman Catholics have been critics of Francis' leadership, saying he represents a liberalizing trend in church life. Liberals have tended to hail him as being open to the world and a voice of 'progress'.

Tyler Durden Thu, 02/20/2025 - 23:00

VP Vance Vindicated, Scottish Police Arrest Woman For Silent Vigil Outside Abortion Clinic

VP Vance Vindicated, Scottish Police Arrest Woman For Silent Vigil Outside Abortion Clinic

Via American Greatness,

Vice President J.D. Vance drew criticism from European leaders and press following his speech last week at the Munich Security Conference in Germany where he openly chastised  European authorities over their suppression of free speech.

Now, just days after Vance’s warning to European official about censorship, a woman has been confronted by police and arrested for holding a sign that read “Coercion is a crime, here to talk, only if you want” outside of a Scottish abortion clinic.

In his remarks in Munich, Vance gave examples of Germany arresting people criticizing feminism, Sweden arresting individuals for criticizing religion and Scottish police arresting a man for silently praying for his aborted son outside of an abortion clinic.

European leaders were called to task by Vance for abandoning what he called their “most fundamental values” while insisting that the U.S. should continue helping defend Europe.

Vance told the assembled leaders, “If you are afraid of the voices, the opinions and the conscience that guide your very own people … If you’re running in fear of your own voters, there is nothing America can do for you, nor for that matter is there anything you can do for the American people.”

Vance’s remarks prompted shock and condemnation among many European politicians and various state media.

U.K. news outlets had some of the harshest criticism for the Vice President over his condemnation of so-called “buffer zones” around abortion clinics in Scotland where police arrested a man for silently standing outside a clinic, praying for his unborn son.

The BBC accused Vance of making “dangerous” claims about Scottish laws during his remarks when he spoke of people living within so-called safe access zones receiving a letter from the Scottish government, “warning them that even private prayer within their own homes may amount to breaking the law.”

According to the BBC, a Scottish government spokesperson said, “no letters had been sent out saying people couldn’t pray in their homes, and only “intentional or reckless behaviour” was covered by the act.”

However, a copy of the letter received by homeowners within the “safe access zones” reveals ambiguous language that appears to bear out Vance’s warning of the growing danger to peaceful free speech.

Should we believe what European politicians and state media are telling us or what can be clearly seen with our own eyes?

Tyler Durden Thu, 02/20/2025 - 22:35

"We're Seeing Heavy Traffic": Musk's Grok Chatbot Tops No. 1 On App Store, Overtaking ChatGPT & TikTok

"We're Seeing Heavy Traffic": Musk's Grok Chatbot Tops No. 1 On App Store, Overtaking ChatGPT & TikTok

Days after Elon Musk and his xAI team unveiled Grok-3—touted as the "smartest AI on Earth"—the chatbot, which outperforms all commercially available models, has surged to the top of the Apple App Store list

Data from the App Store shows that xAI's Grok app sits number one on the "Top Free App" page, beating OpenAI's ChatGPT, Meta's Threads, and TikTok.

This surge in demand for Grok likely began around the release of the new model on Monday night. 

Musk and xAI staff showed how the new model outperformed Alphabet's Google Gemini, DeepSeek's V3 model, Anthropic's Claude, and OpenAI's GPT-4o across math, science, and coding benchmarks.

Momentum was reignited on Wednesday night after Musk announced that Grok-3 would be "free to all" for a limited time.

By Thursday morning, Musk and xAI had encountered a good problem: "We're seeing some heavy traffic, so we've opted for an alternate model to get your answer to you faster." 

This was the message generated while asking the model to produce an image. 

We asked Grok... It responded:

XAI noted overnight: "This is it: The world's smartest AI, Grok 3, now available for free (until our servers melt)."

That time may have arrived. 

Tyler Durden Thu, 02/20/2025 - 22:10

The Rebel Campus Boosters Rising Up Against Wokeness On Campus

The Rebel Campus Boosters Rising Up Against Wokeness On Campus

Authored by John Murawski via RealClearInvestigations,

In the plummy world of alumni relations, where distinguished graduates are awarded honorary degrees and major donors are fêted at the president’s mansion, it is virtually unheard of for former students to set up shop as a political counterweight to the university, challenging its modes of governance and day-to-day operations

Alarmed by academia’s dominant ideological ethos of social justice activism – particularly the holy trinity of race, sex, and gender – more than two dozen dissident groups have emerged seeking to rebalance the culture at leading public and private universities across the country, including Cornell, Dartmouth, Harvard, MIT, Stanford, UCLA, Williams, the University of North Carolina and the University of Virginia. 

They are expected to gain traction with Donald Trump back in the White House.

The dissident alumni organizations are not shoestring operations, but well-honed machines, some raising several hundred thousand dollars a year; a number of them have hired executive directors, professional staff, or consultants. This loose coalition of local chapters has also developed into a national movement with its own umbrella group, the Alumni Free Speech Alliance

Drawing on alumni resources and connections, the dissidents have curated email lists totaling thousands of recipients, diverted financial contributions from longtime university donors, attracted financial support from foundations, organized speaker series and public events, and generated critical reports and investigative articles, especially regarding policies advancing diversity, equity, and inclusion, or DEI. They have invited prominent conservative and contrarian thinkers such as George Will, Nadine Strossen, Jonathan Haidt, Douglas Murray, and Heather Mac Donald to deliver on-campus talks.

The Virginia Military Institute alumni group, The Cadet Foundation, is the publisher of the independent student newspaper, The Cadet, and other chapters function as aggregators, muckrakers, and news services. The Jefferson Council,the University of Virginia alumni chapter, produces original articles almost daily of consistently high informational and entertainment value, and mostly written by a retired news editor and author

When you get down to it, these groups are news organizations, in a sense,” said Tom Rideout, a 1963 graduate of Washington & Lee University and a former American Banking Association president who co-founded one of the first alumni free speech associations, The Generals Redoubt, in response to the university’s move in 2018 to distance itself from its namesakes and their ties to slavery. “Essentially we’re in the communications business. Our job is to gather intelligence and distribute intelligence to supporters.”

It’s not possible to isolate the precise influence of these alumni from parallel pressure applied by Republican lawmakers, conservative trustees, and heterodox faculty, but college donations dipped nationwide last year in the wake of the Hamas attack on Israel and subsequent campus protests; donations at HarvardColumbia, and Penn fell dramatically during this time amid rising alumni alarm

For their part, the dissident alumni say they have helped bring about significant political gains, including: 

  • The resignation of Cornell president Martha Pollack, who was accused of prioritizing “DEI groupthink” that resulted in unruly campus protests and student harassment, prompting an investigation by the U.S. Education Department; 
  • Princeton’s president admonishing first-year students at freshman orientation last fall that it’s not the university’s job to “validate your opinions”;
  • The University of Virginia suspending student-led campus tours that angry alumni said caricatured the legacy of Thomas Jefferson as nothing but slavery, rape, and theft of Indigenous land; 
  • The Virginia Press Association awarding its “top honor” to the Virginia Military Institute student newspaper, which is published by dissident alumni, for the student-journalists’ coverage of DEI controversies on campus. 

Their operating expenses go to staff salaries, marketing expenses, speaker fees, and events, which can get disruptive. In some cases, the alumni chapters pay for their speakers’ private security or reimburse the university for campus security. UVA billed The Jefferson Council $7,847 for Abigail Shrier’s appearance in 2023 to discuss her book, “Irreversible Damage: The Transgender Craze Seducing Our Daughters.” Over two years, The Jefferson Council was billed about $47,000 for security expenses in connection with controversial speakers. 

The newly arisen alumni free speech associations are just one facet of a major realignment in academia that signals that a half-century era of unchallenged progressive intellectual dominance may be coming to an end. Major university systems in red states have already ended DEI policies in hiring and scholarship, and more than 120 universities have adopted policies of institutional neutrality – the idea that the university exists to foster debate and criticism, not to take sides on public controversies.

Other organizations devoted to protecting academic freedom and viewpoint diversity – such as the American Council of Trustees and Alumni, the Heterodox Academy, and the Academic Freedom Alliance – have arisen to challenge the narrow academic consensus on social and political questions. 

In parallel, heterodox faculty at leading universities have formed campus chapters, such as the Council on Academic Freedom at Harvard, the Princeton Council on Academic Freedom, and kindred faculty groups at Yale, MIT, Columbia, and Duke. Last year, the University of Chicago announced an anonymous grant of $100 million to promote free speech values at the Chicago Forum for Free Speech and ExpressionThe Chicago Forum develops student orientation programming, supports research in academic freedom, and establishes fellowship programs for visiting scholars. 

Over the same period, conservative donors, legislators, and trustees have launched more than a dozen academic civics centers that are reviving classical liberal education, rediscovering the Great Books, and rejecting what they perceive as the vilification of Western Civilization. These well-funded programs operate autonomously like law schools or engineering schools, with their own deans, Ph.D. programs, and sometimes dedicated buildings. 

Trump's Election a Boost

Trump’s election is expected to accelerate the reforms, particularly with his threat to cut federal funding to institutions that give weight to the racial identity and gender identity of students and faculty in admissions, hiring, teaching, and research. 

In a January essay on the Princetonians for Free Speech site, group co-founder and current secretary and general counsel Edward Yingling, a former American Banking Association president, predicted that 2025 will be a breakthrough year for free speech on campus. The major precipitating event of this predicted turnaround, Yingling wrote, was the Hamas attack on Israel in October 2023 that led to unruly campus protests and encampments and the resignations of Ivy League presidents at Harvard, Cornell, Columbia, and the University of Pennsylvania, all of which now have alumni free speech association chapters. 

Some observers warn the anti-woke pushback will lead to an overcorrection. The legal director of the Foundation for Individual Rights and Expression, a free speech advocacy group, predicted, according to the New York Times, the likelihood of increased attacks on the free speech rights of progressive students and professors, including investigations, punishment, and terminations. A recent weekend essay in the Wall Street Journal issued a similar warning, saying that the ravages of wokeness and cancel culture will come in the form of political payback: “They/them who sow the censorious winds should be prepared to one day reap the whirlwind.”

These transformations point to a looming question about the future prospects for the alumni free speech alliance chapters: Will these dissident alumni organizations be able to sustain momentum and continue attracting donations when it starts looking like wokeness is moribund and DEI is DOA? 

When asked this question, not a single chapter representative hesitated to say that the fight will continue for years, possibly until the current generation of faculty and DEI hires reaches retirement age and can be replaced with a more balanced professoriate.

Carl Neuss, a California real-estate developer who co-founded the Cornell Free Speech Alliance, likened academia to a beautiful sailing ship infested with rats who are about to face an exterminator. 

“It’ll be a battle royale,” Neuss said. “It’ll be a generation-long effort to get some balance back in the universities. They’re never going to reform themselves – the only way for it to occur is from outside pressure.”

James Bacon, a co-founder of The Jefferson Council and the chapter’s former executive director, expressed similar sentiments, characterizing the prevailing DEI value system among students, faculty, and administrators as “an entrenched orthodoxy.” 

It’s going to be a battle of a generation before we bring about substantial change,” Bacon said. “It’s going to be trench warfare, like the Battle of Verdun, fighting over inches.

Retired federal prosecutor John Bruce, a board member of the University of Carolina at Chapel Hill’s alumni free speech association, concurs. “We see ourselves as permanent,” Bruce said. “There is a danger that people will think that the battle has been won. But the Left is relentless.”

Although the formal missions of these alumni chapters include specific proposals to promote free speech and viewpoint diversity, their ambitions are much broader: to change the intellectual climate of academia, revive classical liberal education, and curb the social justice activism that has pervaded academia for years. 

Some of the dissident groups – including chapters at UVA, Washington & Lee, Cornell, and Princeton – have been active in opposing campus efforts to  rename buildings and remove statues, plaques, and commemorations that are said to glamorize white supremacy or make African American students feel excluded. 

The Washington & Lee University alumni who formed The Generals Redoubt include among their stated goals the re-establishment of public prayer. The group defends the character of Confederate General Robert E. Lee and promotes a book, “Un-Cancel Robert E. Lee: An Open Letter to The Trustees of Washington and Lee University,” written by member Gib Kerr and published by the conservative imprint, Bombardier Books.

These alumni were furious that W&L removed Lee’s name from the campus chapel, sealed off Lee’s recumbent statue from public view, and removed the likenesses of George Washington and Robert E. Lee from diplomas awarded to graduating students. 

The Generals Redoubt is one of the most successful alumni chapters, raising $2 million in each of the past two years, according to the ProPublica Nonprofit Explorer database, and spending $1 million to purchase a historic property to serve as the organization’s headquarters and venue site

Among those that have taken on the cause of historic preservation, The Jefferson Council’s formal mission involves preserving “the beauty of The Lawn” – the terraced greensward and courtyard at the heart of Thomas Jefferson’s academic village that is listed on the Virginia Historic Register, the National Historic Register and among the UNESCO World Heritage Sites – from political signs that the chapter deems vulgar and offensive

The Jefferson Council was provoked in 2020 by a student occupant of one of the storied 19th-century rooms on The Lawn who posted on the door: “Fuck UVA,” followed by a string of accusations: “UVA operating cost, KKKops, genocide, slavery, disability, Black+Brown life.” 

Noting that the profanity was “disheartening,” the university nevertheless supported the student’s free speech rights in this instance. UVA’s decision was publicly praised by the Foundation for Individual Rights and Expression, “illustrating why UVA is one of the relatively few institutions in the country to earn FIRE’s highest, ‘green light’ rating.”

The Jefferson Council was galvanized by UVA’s “Racial Equity Task Force” report in 2020 that recommended $950 million in DEI-related and antiracist-oriented investments, leading to the removal of a statue of George Rogers Clark (a subjugator of indigenous tribes), the renaming of the main campus library, and the promised – but as-of-yet not realized – “contextualization” of the Thomas Jefferson statue in front of the iconic Rotunda, designed by Jefferson himself and modeled on the Roman Pantheon. 

The Jefferson Council has filed more than 200 Freedom of Information Act requests to pry loose details on a range of issues, including details about UVA’s decision-making on recent name changes of campus buildings and past and potential yet-unannounced future statue removals. A faculty petition has declared The Jefferson Council to pose a threat to academic freedom. 

We are widely detested,” said Bacon, one of the co-founders and principal writers for The Jefferson Council.

In a 2023 New York Times article about the alumni group, UVA President James Ryan expressed his doubts about The Jefferson Council’s real motives: “Whether this is an effort to focus on the aspects of D.E.I. that seem to threaten academic freedom and push toward ideological conformity, or whether it’s an effort to turn back the clock to 1965 – it’s hard to know.” 

Despite the official snub – or perhaps because of it – The Jefferson Council raised a healthy $260,000 in 2023, down from $557,044 the previous year. The group communicates with 3,200 members and has about 850 active donors, said co-founder Thomas Neale, a corporate finance professional who is also chairman of the national Alumni Free Speech Alliance. 

What rankles Neale and other alumni is what they see as a blatant double standard that trumpets free speech rights for woke obscenities on a UNESCO World Heritage site but cites the harms of misgendering and microaggressions when the insult goes the other way.

The dissident alumni have established a base of support among like-minded students and faculty on their respective campuses, but they have also made enemies along the way. 

Robert Morris Jr., the founder and president of VMI’s dissident alumni group, The Cadet Foundation, has been banned for life from the university’s official alumni association in connection with its disputed accessing of the alumni email database to recruit alumni to the dissident group, and a number of other alumni were handed 10-year suspensions for their involvement. 

Bert Ellis, a University of Virginia trustee and co-founder of The Jefferson Council, was censured by UVA’s Faculty Senate for allegedly planning to vandalize the student’s “Fuck UVA” sign; Ellis was also the target of an unsuccessful effort by Democrats in the Virginia statehouse to block his appointment to UVA’s board of visitors. 

A 'Monster List' of Supporters

According to The Cornell Daily Sun, then-President Martha Pollack said in 2023 – a year before she was forced to resign – that it was “incredibly frustrating” that groups like the Cornell Free Speech Alliance denounce DEI “in the guise” of defending free speech. 

The Cornell group has proven to be one of the most active and effective chapters, one born out of a university fundraising appeal gone bad. 

In 2019, Cornell officials courted Neuss, a 1976 engineering grad and successful real-estate tycoon, with an invitation to make a substantial gift – “north of $1 million,” in Neuss’s words – in exchange for a naming opportunity involving a university building, possibly a library or a laboratory. Neuss had heard rumors about intolerance and censorship on campus and delayed cutting the check as he mulled his options. In a bid to appease his concerns, university officials introduced him to political moderates on the faculty. After hearing their testimonies, Neuss resolved to use his donations to create the Cornell Free Speech Alliance in 2021.

What he learned from these faculty members was astonishing,” the Cornell Alliance memorialized in one of its numerous reports. “They told him that they felt sidelined and humiliated by the diversity training they were required to attend and were perpetually afraid they would say something factual but impolitic that could negatively impact their job.”

The alumni organization began compiling an email distribution from various sources – web searches, references, word of mouth, unsolicited inquiries – and now communicates regularly with 23,000 regular readers and subscribers. Like other alumni groups, Cornell tapped into the university’s official alumni association contacts list – extracting thousands of emails – before Cornell shut down unlimited access. The Cornell Free Speech Alliance now disseminates news updates and other information reporting on the Cornell administration and exposing practices the group considers abusive or even illegal.

This is one thing that absolutely freaks them out,” Neuss said. “We have compiled this monster email list of Cornell alumni, donors, trustees, former trustees, et cetera.”

report issued in December 2023 lists a number of early achievements: creating a free speech “action plan” for Cornell leadership; media exposure in The Atlantic, the Wall Street Journal, Fox News, New York Post, Inside Higher Ed, National Review and RealClearPolitics; and filing an amicus brief with other alumni free speech alliance chapters in a Supreme Court case involving alleged free speech abridgments at Virginia Tech University. 

Neuss said the organization has close to 1,000 donors. As of 2023, the group reported $221,000 in revenue and total assets of $186,000, according to the ProPublica Nonprofit Explorer database. It is run by an executive committee of eight Cornell alums and two dozen other volunteers, and paid professionals include an email blast specialist and a PR/communications point person.

One of the culture war controversies that drew the group’s ire was the mysterious disappearance of a bust of Abraham Lincoln that had been displayed at the Rare and Manuscript Collections section of Kroch Library, which houses the university’s Asia Collections and rare books,  manuscripts and other artifacts. A professor learned from a librarian that the bust had been removed because of a “complaint.” The bust was eventually restored after the Cornell Free Speech Alliance, The College Fix, and others drew attention to its disappearance, and concerned alumni flooded the administration with angry letters. 

This was at the height of the so-called racial reckoning in the wake of George Floyd’s 2020 murder, prompting Cornell President Pollack to announce what was cast as a series of antiracist actions: a mandatory unit on racism, bias, and equity for all Cornell students; the creation of an Anti-Racism Center to generate antiracism scholarship; and a campus-wide, racism-focused semester, during which “our campus community will focus on issues of racism in the U.S. through relevant readings and discussions.” 

In January 2024, Cornell trustee and donor Jon Lindseth wrote an open letter to Cornell trustees calling for President Pollack’s resignation, enumerating a litany of complaints, starting with Pollack’s “shameful,” milquetoast response to “terrorism and antisemitism,” compared to her swift, decisive action in response to the George Floyd tragedy. 

“A new campus ‘bias reporting system’ fosters a hostile Orwellian environment among neighbors, classmates, and colleagues reporting on one another,” Lindseth wrote. “The elimination of grades and SATs has created a system in which equal outcomes rather than proven merit has become the objective.”

Many of the examples in Lindseth’s letter, such as “whistleblower accounts” from faculty, are attributed to the muckraking work of the Cornell Free Speech Alliance. “Instances are reported of qualified candidates for faculty positions being rejected for their DEI statements alone,” Lindseth wrote. 

“Even Lincoln could be canceled under the present administration,” Lindseth lamented. “This is an absolute disgrace.” 

Less than four months later, Pollack was out. 

Two weeks later, the alumni alliance released a whistleblower report headlined: “Internal Cornell Records Provided To CFSA Show How The University Discriminates Based On Personal Beliefs & Identity Profiles Rather Than Merit.” The report warned that Cornell was illegally disqualifying job candidates based on DEI statements and based on their identity characteristics. 

In August, the group submitted an incriminating 101-page report to Cornell leaders and trustees, noting that Cornell ranks 188th out of 203 American universities in free expression, according to the Foundation for Individual Rights and Expression, whose surveys indicate that 88% of Cornell’s students self-censor their speech on campus. 

The report urged Cornell leaders to get out of the business of social justice activism: “Concerns of ‘community,’ ‘belonging,’ ‘microaggressions,’ and related efforts to ‘protect students from harmful ideas’ must be clearly and emphatically subordinated to the essential principles of open inquiry, academic freedom, free expression, and viewpoint diversity.

“We’re dealing with institutions that are steeped in the oppressor-oppressed ideology,” said Michael Poliakoff, president of the American Council of Trustees and Alumni, a national advocacy group that helped spin off the Alumni Free Speech Alliance. “Alumni and donors are now fed up with the idea of being tapped smoothly for money but essentially being pushed aside when they want to talk about the values of the campus.”

This article was originally published by RealClearInvestigations and made available via RealClearWire.

John Murawski reports on the intersection of culture and ideas for RealClearInvestigations. He previously covered artificial intelligence for the Wall Street Journal and spent 15 years as a reporter for the News & Observer (Raleigh, NC) writing about health care, energy and business. At RealClear, Murawski reports on how esoteric academic theories on race and gender have been shaping many areas of public life, from K-12 school curricula to workplace policies to the practice of medicine.

Tyler Durden Thu, 02/20/2025 - 21:45

Truth Social & Rumble Blast Brazilian Supreme Court Justice In Bombshell Lawsuit

Truth Social & Rumble Blast Brazilian Supreme Court Justice In Bombshell Lawsuit

President Trump's Trump Media & Technology Group (TMTG) and Rumble have teamed up to sue the pants off Brazilian Supreme Court Justice Alexandre de Moraes, accusing him of violating the free speech rights of an unnamed Brazilian influencer living in the United States.

Brazilian Supreme Court Judge Alexandre de Moraes

The 39-page lawsuit, filed in the US District Court in Tampa, Florida, alleges that de Moraes exceeded his authority and violated international law by trying to ban the Brazilian blogger. TMTG operates Trump's social media platform Truth Social, while Rumble is a popular video sharing platform. According to the complaint, the blogger is identified as "Political Dissident A," and claims he has "sought political asylum in the United States, where he remains."

"Political Dissident A" has founded several media outlets critical of Brazil's supreme court, and has built a "sizable online following," including a YouTube channel which boasts over 1.3 million followers.

The blogger was a vocal proponent of Brazil's previous administration under former President Jair Bolsonaro.

"Acting under the guise of the Supreme Federal Tribunal of the Federative Republic of Brazil (‘STF’), Justice Moraes has issued sweeping orders to suspend multiple U.S.-based accounts (‘Banned Accounts’) of a well-known politically outspoken user (’Political Dissident A‘), ensuring no person in the United States can see his content (’Gag Orders’)," reads the lawsuit, which adds that the gag orders issued by Moraes "censor legitimate political discourse" in the United States and undermine protections enshrined in the First Amendment.

As the Epoch Times notes further, the lawsuit further alleges that the gag orders conflict with the Communications Decency Act, which grants legal immunity to providers of interactive computer services for content created by others on their platforms.

According to the lawsuit, Florida-based Rumble faces a fine of $9,000 a day and a shutdown of its service in Brazil if it doesn’t abide by Moraes’s orders.

The judge’s orders require Rumble to designate a legal representative in Brazil “solely for the purpose of accepting service of the Gag Orders and submitting to Justice Moraes’s authority,” the lawsuit states.

A ban on Rumble would interfere with Trump Media’s operations because the company relies, in part, on Rumble’s cloud-based hosting and video streaming infrastructure to deliver multimedia content to Truth Social users, the companies claim in the legal filing.

Rumble and TMTG are asking the court to declare Moraes’s gag orders unenforceable in the United States.

Allowing Justice Moraes to muzzle a vocal user on an American digital outlet would jeopardize our country’s bedrock commitment to open and robust debate,” the lawsuit states. “Neither extraterritorial dictates nor judicial overreach from abroad can override the freedoms protected by the U.S. Constitution and law.”

Moraes is currently weighing charges filed on Tuesday alleging that Bolsonaro led a plot to overthrow the Brazilian government and undermine democracy after his 2022 election loss to President Luiz Inácio Lula da Silva.

A total of 33 people were charged this week alongside Bolsonaro, including several high-ranking officials from his former administration, such as his former national security adviser, retired Gen. Augusto Heleno, and former Navy Commander Almir Garnier Santos.

Bolsonaro’s lawyer, Paulo Cunha Bueno, has denied any wrongdoing by the former president and said the charges lacked facts.

“The President has never supported any movement aimed at dismantling the democratic rule of law or the institutions that uphold it,” Cunha Bueno wrote in a statement on social media platform X. “President Jair Bolsonaro trusts in the justice system and therefore believes that this indictment will not prevail due to its fragility, inconsistency, and lack of factual basis to support it in court.”

*  *  *

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Click picture... add to cart... check out... receive sweet multitool! Tyler Durden Thu, 02/20/2025 - 21:20

Musk: "Time To Begin Preparations For Deorbiting Space Station"

Musk: "Time To Begin Preparations For Deorbiting Space Station"

NASA awarded SpaceX a billion-dollar contract last year to deorbit the International Space Station and guide its controlled descent into the Pacific Ocean by the end of the decade. Now, Elon Musk is pushing for an accelerated timeline.

"It is time to begin preparations for deorbiting the @Space_Station . It has served its purpose. There is very little incremental utility. Let's go to Mars," Musk wrote on X around lunchtime. 

Eric Berger, a senior space editor at Ars Technica, commented on Musk's post: "Are you suggesting that the ISS be deorbited prior to 2030? As you know, SpaceX currently as a contract to build the US Deorbit Vehicle to safely bring the station down in 2030."

Musk responded to Berger: "The decision is up to the President, but my recommendation is as soon as possible. I recommend 2 years from now."

The ISS, launched in 1998, recently extended its operational life from 2024 to 2030. Russia has indicated plans to withdraw from the ISS after 2024, while China is building its own space station called Tiangong.

The total cost of the ISS since 1998 is estimated to be around $150 billion to $160 billion, including $3-4 billion per year in costs. 

Democrats have already become angered over Musk's proposed accelerated timeline for deorbiting the ISS on X. We're sure they're completely melting down on BlueSky. However, the ISS was originally set to retire in 2015, only to have its operational lifespan repeatedly extended by Congress. Over the years, numerous reports surfaced on leaks and structural concerns. It's time to move on and save taxpayers billions of dollars per year. 

Tyler Durden Thu, 02/20/2025 - 20:30

Federal Judge Allows Trump Admin To Continue Mass Layoffs Of Federal Workers

Federal Judge Allows Trump Admin To Continue Mass Layoffs Of Federal Workers

Authored by Stacy Robinson via The Epoch Times (emphasis ours),

A federal judge on Feb. 20 declined to block for now downsizing efforts by the Trump administration, including mass firings and buyout programs.

The E. Barrett Prettyman U.S. Court House in Washington on Feb. 19, 2025. Madalina Vasiliu/The Epoch Times

Federal district judges are duty-bound to decide legal issues based on even-handed application of law and precedent—no matter the identity of the litigants or, regrettably at times, the consequences of their rulings for average people,” U.S. District Judge Christopher Cooper wrote in his ruling.

Unions representing hundreds of thousands of federal workers had filed a lawsuit against President Donald Trump and the heads of several government agencies, saying they were overstepping the executive branch’s authority.

The unions also said slashing the size of federal agencies would result in “irreparable harm” because of lower union dues revenue and a loss in bargaining power.

They asked the court to declare the federal program unlawful and to halt the administration from implementing another similar program.

The buyout, or deferred resignation, offer, which ended on Feb. 12, was offered to more than 2 million government employees by the Office of Personnel Management (OPM) to hasten Trump’s plan to shrink the federal workforce.

OPM offered workers full pay and benefits until Sept. 30 in exchange for voluntary resignation and warned that “the majority of federal agencies are likely to be downsized through restructurings, realignments, and reductions in force.”

Tyler Durden Thu, 02/20/2025 - 20:05

Department Of Health And Human Services Updates Definitions Of Female, Male

Department Of Health And Human Services Updates Definitions Of Female, Male

Authored by Katabella Roberts via The Epoch Times,

The U.S. Department of Health and Human Services (HHS) on Feb. 19 issued new guidance updating its official definitions of terms such as sex, female, and male as part of President Donald Trump’s efforts to restore “the concept of biological truth” in the federal government.

It marks one of the first actions taken by Health and Human Services Secretary Robert F. Kennedy Jr. following his confirmation last week.

The guidance was released to the U.S. government, external partners, and the public to “expand on the clear sex-based definitions” outlined in a January executive order signed by Trump, called “Defending Women from Gender Ideology Extremism and Restoring Biological Truth to the Federal Government.”

That order stated, in part, that the Trump administration “will defend women’s rights and protect freedom of conscience by using clear and accurate language and policies that recognize women are biologically female, and men are biologically male.”

The new HHS guidance reiterates the Trump administration’s stance that male and female are the only two sexes and that they cannot be changed.

Specifically, it defines the term “sex” as “a person’s immutable biological classification as either male or female.”

Female is defined as “a person of the sex characterized by a reproductive system with the biological function of producing eggs,” while male is defined as “a person of the sex characterized by a reproductive system with the biological function of producing sperm.”

A woman is “an adult human female.” 

A man is “an adult human male,” the guidance states.

A mother is described as a female parent and a father is described as a male parent.

The HHS will use these definitions and promote policies acknowledging that “women are biologically female and men are biologically male,” according to the guidance.

“This administration is bringing back common sense and restoring biological truth to the federal government,” Kennedy said in a statement. 

“The prior administration’s policy of trying to engineer gender ideology into every aspect of public life is over.”

Athlete Riley Gaines Praises Trump’s ‘Clarity, Decisiveness’

In conjunction with the new guidance on sex-based definitions, HHS also launched a new website that includes information and resources for “protecting women and children.”

The website features a video from former National Collegiate Athletic Association swimmer, Riley Gaines, defending a recent ban on men participating in women’s sports.

Gaines, who has regularly advocated for such a ban, can be seen in the video thanking Trump for taking swift action to protect female athletes.

“The clarity and decisiveness of this administration sends a strong, clear message to women and girls across the country that we matter,” Gaines said.

The website also features a blog post by Dr. Dorothy Fink, an endocrinologist who served as acting HHS secretary before Kennedy assumed his new role, on the various sports-related conditions faced by women and girls competing in athletics.

“In health care, sex distinctions can influence disease presentation, diagnosis, and treatment differently in females and males,” Fink said in a statement. 

“HHS recognizes that biological differences between females and males require sex-specific practices in medicine and research to ensure optimal health outcomes.”

The latest guidance represents a shift from the previous administration’s stance on gender identity.

Under Biden, the U.S. Centers for Disease Control and Prevention (CDC), one of HHS’s agencies, defined sex as “an individual’s biological status as male, female, or something else,” while gender was defined as “the cultural roles, behaviors, activities, and attributes expected of people based on their sex.”

In the United States, 1.6 million people over the age of 13 identify as transgender individuals, according to the Williams Institute.

Tyler Durden Thu, 02/20/2025 - 19:15

Tom Hanks, Margaret Brennan, & The European Ministers Reveal It All

Tom Hanks, Margaret Brennan, & The European Ministers Reveal It All

Authored by Victor Davis Hanson via American Greatness,

Three recent but completely unrelated events illustrate the deranged hatred of Donald Trump and his supporters continuing now even into a second decade. And yet the venom only further marginalizes the left.

In its too-long 50th anniversary spectacle, Saturday Night Live offered a skit in which marquee actor Tom Hanks did an impression of what the left thinks is a supposedly neanderthal Trump supporter.

The episode was NBC’s tele-version of the recent Obama-Hillary Clinton-Biden vocabulary of cheap MAGA disparagement: clingers, deplorables, irredeemables, chumps, dregs, semi-fascists, and ultra-MAGAs.

Most of those stereotyped props were evident in Hanks’ character.

He was wearing a red MAGA hat (real and not the fake versions of Jussie Smollett’s wild and sinister imagination).

Hanks sounded off as a superstitious evangelical, a slow-speaking Southern twanger, and a poorly dressed slob.

And of course, the SNL writers insisted that he play the gratuitous racist. So, Hanks, as a clueless Black Jeopardy contestant, initially refused to even shake the hand of the African-American, assumed intellectually and morally superior, gameshow host.

We are supposed to believe the Hanks caricature is in contrast with progressives—usually represented in society as the bicoastal enlightened, well-spoken, and snappily dressed.

Perhaps the SNL crowd thought the counterpart to Hanks’ MAGA sluggard was the recent hard-left, Democratic standard-bearer—the eloquent Kamala Harris of mesmerizing word-salad fame?

Aside from the reality that Trump captured a record number of African-American male voters, nearly split the Hispanic vote, and made gains with Asian- and Jewish-Americans, he also won massive defections from Wall Street and Silicon Valley entrepreneurs.

So, does the SNL, Tom Hanks, or the left have any idea why it lost the popular vote due to such a diverse group of Democrat apostates?

Democrats should ask: Who is truly slow-witted? Is it the stumbling Tom Hanks caricature or the real Joe Biden and his ilk?

The latter bequeathed Americans an open border, 12 million illegal aliens, hyperinflation, two theater wars abroad, mega-trillion-dollar deficits, and the Green New Deal that impoverished the middle classes of all races.

At about the same time, Secretary of State Marco Rubio appeared on CBS’s Face the Nation. He was immediately pressed by host Margaret Brennan, the epitome of the supposedly sophisticated, hip, left-wing journalist, and thus the converse of the Hanks caricature.

Yet when pressing Rubio about the recent dress-down speech of Vice President J.D. Vance to the European ministers, Brennan thought she would draw on her historical wisdom to confound the supposed Trump megaphone.

Did Vance not know, Brennan demanded of Rubio, that he was lecturing Europeans about their unfortunate abandonment of free expression and speech? And in Germany of all places, she intoned—the very place, she insisted, where the Nazis once weaponized free speech to conduct the genocide!

It took Rubio about a nanosecond to clue the historically illiterate Brennan that the Nazis never allowed any free speech.

It was not excessive or even crude free speech that caused the Holocaust, but precisely the complete absence of all sorts of dissenting views in the marketplace of ideas.

Ironically, it was precisely Brennan’s own defense of censoring “hate speech,” “disinformation,” and “misinformation” that the Nazis used to brand as extreme and unacceptable any view contrary to their own.

Next, the stunned European ministers in Munich, of course, sat aghast at Vance’s tutorial.

None refuted what he was saying, namely that European elites’ efforts to delay or cancel elections that might bring national conservative populists to power are contrary to the European enlightenment.

The use of weaponized, selective law enforcement to go after peaceful anti-abortion protestors, but not known violent Muslim illegal immigrants, is not only contrary to a free society but suicidal.

But Vance had a deeper subtext to his remarks.

The left-wing European elite fear even more than they hate the rising populist pushback.

The European apparat knows their own past two decades of massive illegal alien influxes, disarmament, deindustrializing, crashing fertility, green mandates, high taxes, crushing regulations, asymmetrical trade tariffs, and suppression of free speech and dissent were precisely what created the populist backlash.

The growing counter-revolution was not because of bogeyman charges of “racism,” “Islamophobia,” or “xenophobia,” much less “hate speech.”

The real culprit was bankrupt policies that not only did not work but impoverished the entire European Union middle classes.

So, the cure to restore European influence and prestige abroad and prosperity and security at home is not more censorship but more debate, dissent, and fresh ideas.

All that transparency might jumpstart the economy, encourage entrepreneurism, ensure national security, and return Europe to a civil, safe—and influential—society.

Sometimes Trump haters prove to be his best allies. Their venom shows us they either lack common sense or intelligence or both.

Such was the case with Tom Hanks, Margaret Brennen, and the European ministers.

Tyler Durden Thu, 02/20/2025 - 18:25

US Treasury's Bessent Says Russia Could Win Sanctions Relief If Cooperative In Peace Talks

US Treasury's Bessent Says Russia Could Win Sanctions Relief If Cooperative In Peace Talks

Update(15:00ET): The Trump administration has signaled that Russia could win sanctions relief if Ukraine war talks are successful.

"Russia could win some relief from U.S. sanctions based on its willingness to negotiate an end to its war in Ukraine," US Treasury Secretary Scott Bessent conveyed Thursday in a Bloomberg interview. Per the breaking report:

Asked whether the U.S. was prepared to increase sanctions on Russia or reduce them depending on how talks to end the Ukraine war go, Bessent said: "That'd be a very good characterization."

The US Treasury chief then emphasized, "The president is committed to ending this conflict very quickly."

Trump's stance on Ukraine has been met with growing beltway resistance, including from notable Republicans, amid a growing war of words with Zelensky, labeled a 'dictator' who doesn't want to hold elections in a Wednesday Truth Social post by Trump.

The Ukrainian administration understands itself to be increasingly isolated by Washington, now near the eve of the war reaching the exact three-year mark, and there are reports that Zelensky is being told by his advisors to not respond to Trump's provocative words. Trump is telling Zelensky he needs to hold elections.

Any sanctions relief on Moscow would mark a huge shift in the conflict, and Europe would ultimately have no choice but to conform, despite the continuing hawkish statements issued from Brussels. Statements from Rubio also reflected this Trump stance days ago...

Russian markets have responded this week, with the Ruble hitting a six-month high:

Russia's ruble surged to its strongest level against the U.S. dollar in more than six months on Thursday, buoyed by renewed U.S.-Russia ties and hopes in Moscow for sanctions relief. The ruble has gained about 14% since U.S. President Donald Trump returned to the White House in January, reversing losses from late 2024.

On Thursday, Russia's Central Bank set the official exchange rate at 88.5 rubles against the U.S. dollar, its highest level since August. While Russia does not have a fixed exchange rate, the Central Bank's figure reflects market trends. The rebound follows a steep drop in the ruble last year when the outgoing Biden administration imposed its toughest sanctions on Russia’' oil sector since the start of the war".

Note: a 1-month fwd Ruble chart.

Trump has held out the threat of more sanctions, but this new statement from Bessent signals where the US administration's priorities are headed.

* * *

Retired US Lt. Gen. Keith Kellogg, Trump’s special envoy to Ukraine and Russia, is in Kiev where on Thursday he had an (apparently) brief meeting with Ukrainian President Volodymyr Zelensky.

A scheduled post-meeting news conference has been unexpectedly canceled, though no reason was immediately forthcoming, according to a Ukrainian official, presidential spokesman Serhii Nikiforov. The US side made no comment upon the presser's cancelation.

The Associated Press observes, "When the meeting began, photographers and video journalists were allowed into a room where the two men shook hands before sitting across from each other at a table at the presidential office in Kyiv."

NYT: Keith Kellogg, center, the U.S. special envoy for Ukraine and Russia, meeting with European leaders in Brussels on Tuesday before traveling to Ukraine. Getty Images

What's the latest in the growing feud that let up to this?

President Trump on Wednesday night continued bashing Ukraine's Zelensky, this time describing that his officials treated Treasury Secretary Scott Bessent "rudely" during his visit to Kiev last week.

Trump further said that Zelensky chose to sleep instead of meeting with the high-ranking American official to discuss the White House proposed mineral rights deal. "Zelensky was sleeping and unavailable to meet him," Trump told reporters aboard Air Force One.

Trump's comments:

The Treasury Secretary had "traveled many hours on the train, which is a dangerous trip," Trump added, characterizing the whole visit as futile given the Ukrainians "told him 'no'" on the deal for America to acquire 50% of the country's rare earth minerals.

Trump's anti-Zelensky rhetoric, which included him calling him a "dictator" yesterday, has grown to the point that many pundits see that the Ukrainian president's exit is nigh. Trump is pressuring Kiev for new elections, which would require parliament to change the constitution.

Vice President J.D. Vance also warned Wednesday that Zelensky will only bring harm on himself should be continue 'badmouthing' President Trump. This was in reference to Zelensky asserting that Trump is living in a Russian "disinformation space". 

Via Financial Post

Vance's warnings were conveyed in an interview published in the Daily Mail:

"The idea that Zelensky is going to change the president’s mind by badmouthing him in public media, everyone who knows the president will tell you that is an atrocious way to deal with this administration," Vance said. 

"We obviously love the Ukrainian people," but "we obviously think that this war needs to come to a rapid close," he added. 

And Vance followed with a reminder: "That is the policy of the president of the United States. It is not based on Russian disinformation."

Elon Musk has defended the Trump admin's fierce critique of Zelensky. For example, Musk had tweeted out the following list by prominent pro-Trump account @DC_Draino

Want to know why Trump called Zelensky a Dictator? Here are the FACTS:

  • He’s in year 6 of his 5 year term
  • Declared martial law Feb 2022 and has banned elections since then
  • Banned 11 political parties
  • Passed law in 2022 to censor journalists and combined all news into one gov’t station
  • Journalists investigating his corruption get conscripted and thrown on the front lines to die

The list ended with the observation that "Even Saddam Hussein held elections!" We should add to this list the ongoing persecution of the Ukrainian Orthodox Church by the Zelensky government, merely because it maintains spiritual communion with the Moscow Patriarchate.

At this point, many pundits believe it's only a matter of time before there's a change in Ukraine's government. European leaders are of course rallying around Zelensky, but the pressure and power of Washington is a different matter, and in essence Trump is warning that if the Zelensky doesn't achieve peace, there will be drastic changes in Kiev.

*  *  *

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Tyler Durden Thu, 02/20/2025 - 18:11

Pentagon 8% 'Cut' Is Actually Shifting Funds From 'Woke Programs' To America First

Pentagon 8% 'Cut' Is Actually Shifting Funds From 'Woke Programs' To America First

On Wednesday, a Washington Post report that Defense Secretary Pete Hegseth had directed senior Pentagon leaders to prepare for 8% budget cuts sent Palantir and other defense stocks plunging.

Defense Secretary Pete Hegseth delivers remarks at the White House last month. (Kent Nishimura/For The Washington Post)

"The proposed cuts, if adopted, would mark the largest effort to rein in Pentagon spending since 2013," wrote WaPo.

Except that's not what's going on...

On Wednesday night, Breaking Defense's Aaron Mehta and Ashley Roque reported that the 'cuts' are actually Hegseth ordering the review of the department's 2026 budget "in order to shift funds from legacy programs towards President Donald Trump’s priorities, including border security and the Iron Dome for America."

"Secretary Hegseth has directed a review to identify offsets from the Biden Administration’s FY26 budget that could be realigned from low-impact and low-priority Biden-legacy programs to align with President Trump’s America First priorities for our national defense," acting Deputy Secretary of Defense Robert Salesses said in a Wednesday night statement.

"The Department will develop a list of potential offsets that could be used to fund these priorities, as well as to refocus the Department on its core mission of deterring and winning wars. The offsets are targeted at 8% of the Biden Administration’s FY26 budget, totaling around $50 billion, which will then be spent on programs aligned with President Trump’s priorities."

As Breaking Defense notes further;

After the statement was released, Breaking Defense obtained a portion of Hegseth’s memo, which lists 17 “offsets” which “may not be included by services and component in their eight percent decrease” recommendations. Those are:

  • Southwest Border Activities
  • Combating Transnational Criminal Organizations in the Western Hemisphere
  • Audit
  • Nuclear Modernization (including NC3)
  • Collaborative Combat Aircraft (CCAs)
  • Virginia-class Submarines
  • Executable Surface Ships
  • Homeland Missile Defense
  • One-Way Attack/Autonomous Systems
  • Counter-small UAS Initiatives
  • Priority Critical Cybersecurity
  • Munitions
  • Core Readiness, including full DRT funding
  • Munitions and Energetics Organic Industrial Bases
  • Executable INDOPACOM MILCON
  • Combatant Command support agency funding for INDOPACOM, NORTHCOM, SPACECOM, STRATCOM, CYBERCOM, and TRANSCOM
  • Medical Private-Sector Care

It’s unclear what kind of programs will be targeted outside this list, although Salesses in his statement said the department will target “unnecessary spending” like “so-called ‘climate change’ and other woke programs, as well as excessive bureaucracy.” It’s also unclear if the decision not to exempt support for EUCOM, AFRICOM, CENTCOM or SOUTHCOM is a sign that those regions may be downplayed as priorities.

According to Salesses, the department will target "unnecessary spending" such as "so-called ‘climate change’ and other woke programs, as well as excessive bureaucracy."

Tyler Durden Thu, 02/20/2025 - 15:45

Israelis Reluctant To Return To North Amid Hezbollah Threat: 'We Don't Feel Safe'

Israelis Reluctant To Return To North Amid Hezbollah Threat: 'We Don't Feel Safe'

Via The Cradle

Israeli settlers are still reluctant to return to the northern settlements, which were evacuated as a result of Hezbollah’s pro-Palestine operations. 

Yedioth Ahronoth correspondent Yair Kraus reported that settlers from the Metula settlement have filed a petition with Israel’s Supreme Court requesting a conditional order and hearing to discuss an appeal for the settlement’s exclusion from the return protocol that is set to begin in early March. 

Via AFP

According to the correspondent, the Metula settlement council head, David Azoulay, argued that the Israeli government’s refusal to exempt Metula residents from returning has led to a "completely unreasonable" outcome. 

It would force the settlers to leave their current accommodation, places of employment, and schools to return to an area where 70 percent of the houses have been damaged or destroyed. Azoulay also highlights a continued "security risk."

The settlers of Metula have urged Supreme Court representatives to inspect the settlement and reevaluate the decision.  Kraus said over 2,200 projectiles struck the settlement during the war, which began in October 2023, damaging both homes and public infrastructure. The council petition states that there is no protection due to a lack of proper shelter or fortified rooms

Hospitals are closed, and schools are unfit to accommodate students. "For this reason, it was stated that the current situation in Metula does not allow for commercial activities, tourism (as all hotels and dozens of guest houses were damaged), agriculture, community life, welfare, health services, and more," Kraus added. 

A settler from the Misgav Am settlement, which was also heavily targeted by the Lebanese Shia resistance group, told the Ynet news site: "I'm not feeling safe. Most people are not feeling safe because nobody knows what will happen. Now, the army has left Lebanon. So, people, I think, will wait to see what happens at the border."

"You can see on the other side, all the Lebanese are coming home. We're not coming home yet," he added.  "The ceasefire with Lebanon is not ideal. It doesn't give us the full meaning of peace," another settler told Ynet

Missile, rocket, and drone attacks launched by Hezbollah from the start of the war until the announcement of the Lebanon ceasefire caused major destruction in many northern settlements – from which tens of thousands of settlers were forced to evacuate.

According to property tax data obtained by Ynet in late November, "a disturbing partial image emerges that indicates destruction and damage to approximately 9,000 buildings and over 7,000 vehicles that were damaged mainly by Hezbollah fire."

Late Hezbollah chief Hassan Nasrallah vowed before his assassination that the settlers of the north would not return before a ceasefire was reached in Gaza. While the war in Lebanon came to an end before the Gaza ceasefire, most settlers are still refraining from returning due to a sense of unease. 

Citizens of south Lebanon border villages have returned to their homes despite massive destruction and the continued presence of Israeli forces on their land. 

Tyler Durden Thu, 02/20/2025 - 15:25

Trump's Goal Is To 'Abolish The IRS' As Layoffs Loom: Lutnick

Trump's Goal Is To 'Abolish The IRS' As Layoffs Loom: Lutnick

Commerce Secretary Howard Lutnick said on Wednesday that President Trump's goal is to abolish the Internal Revenue Service (IRS).

Francis Chung/Politico/Bloomberg via Getty Images

"Think about it, Donald Trump announces the External Revenue Service, and his goal is very simple (...) his goal is to abolish the Internal Revenue Service and let all the outsiders pay," Lutnick told Fox News host Jesse Watters.

Trump has said that the External Revenue Service will force foreign trade partners to "finally pay their fair share," and has previously floated the idea of abolishing federal income taxes as part of his plans for "tariffing and taxing foreign nations to enrich our citizens."

Lutnick also said that Elon Musk and DOGE were "going to cut" $1 trillion, "and then we're going to get rid of all these tax scams that hammer against America, and we're going to raise a trillion dollars of revenue."

The IRS is responsible for collecting the federal taxes from individuals and corporations - taking in some $823 billion in individual taxes in 2024, roughly 52% of total revenue, according to the Treasury Department.

Lutnick's remarks come as the IRS is reportedly looking to lay off thousands of workers. According to the Associated Press, the agency will start by letting go roughly 7,000 probationary workers in Washington and around the country. Those with roughly one year or less of service at the agency - largely in compliance departments - will be affected, according to the report.

The layoffs are part of the Trump administration’s intensified efforts to shrink the size of the federal workforce through the Department of Government Efficiency by ordering agencies to lay off nearly all probationary employees who have not yet gained civil service protection. They come despite IRS employees involved in the 2025 tax season being told earlier this month that they would not be allowed to accept a buyout offer from the Trump administration until mid-May, after the taxpayer filing deadline.

It’s unclear how the layoffs may affect tax collection services this year. As the nation’s revenue collector, the IRS was tasked during the Biden administration with targeting high-wealth tax evaders for an additional stream of income to the U.S., which is $36 trillion in debt. By the end of 2024, the IRS collected over $1.3 billion in back taxes from rich tax dodgers. -AP

On Wednesday, the NY Times reported that the IRS would begin laying off roughly 6,000 employees on Thursday, and will target 'relatively recent hires which the Biden administration had attempted to revitalize with a surge of funding and new staff.' According to that report, IRS managers on Wednesday began asking their employees to bring their government-issued equipment to the office.

"Under an executive order, I.R.S. has been directed to terminate probationary employees who were not deemed critical to filing season," one email reads. "We don’t have many details that we are permitted to share, but this is all tied to compliance with the executive order."

According to former IRS official Dave Kautter, "There’s a flood of résumés from people at the I.R.S. looking for jobs throughout the tax community," adding "Law firms are getting a fair number of résumés, accounting firms are getting a fair number of résumés."

The IRS employs roughly 90,000 people across the country.

*  *  *

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Tyler Durden Thu, 02/20/2025 - 15:05

Lavrov Praises Trump for Saying NATO Led To Ukraine Invasion

Lavrov Praises Trump for Saying NATO Led To Ukraine Invasion

The Russian side has revealed that during talks with the American delegation led by Secretary of State Marco Rubio earlier this week in Riyadh, Foreign Minister Sergey Lavrov demanded that NATO scrap its 2008 promise to eventually give Ukraine membership in the Western military alliance. 

The response to this has been positive, given Defense Secretary Pete Hegseth already made clear last week that a Ukrainian path to NATO membership won't happen and is off the table.

Image source: SPA, AFP

The NY Times has summarized Trump's 'flipping the script' as follows:

Three years almost to the day later, President Trump is rewriting the history of Russia’s invasion of its smaller neighbor. Ukraine, in this version, is not a victim but a villain. And Mr. Zelensky is not a latter-day Winston Churchill, but a “dictator without elections” who somehow started the war himself and conned America into helping.

Lavrov has responded, telling lawmakers of Trump that "He is the first, and so far, in my opinion, the only Western leader who has publicly and loudly said that one of the root causes of the Ukrainian situation was the impudent line of the previous administration to draw Ukraine into NATO." 

"No Western leaders had ever said that, but he had said it several times. This is already a signal that he understands our position when President (Vladimir) Putin," Lavrov added.

And this how former Russian president and top national security official Dmitry Medvedev responded:

Trump had written previously on Truth Social, "Biden never tried [to end the war], Europe has failed to bring Peace, and Zelenskyy probably wants to keep the ‘gravy train’ going. I love Ukraine, but Zelenskyy has done a terrible job, his Country is shattered, and MILLIONS have unnecessarily died – And so it continues…" He has also addressed Ukraine, saying "You should have never started it."

But there's been plenty of dissent this side of the Atlantic. For example, Trump's own former vice president Mike Pence had this to say: "Mr. President, Ukraine did not ‘start’ this war," he wrote online. "Russia launched an unprovoked and brutal invasion claiming hundreds of thousands of lives. The Road to Peace must be built on the Truth."

Trump has expressed a willingness to end this brutal war by any means possible, and appears ready to push Ukraine into territorial concessions. As for the underlying cause of the war, recall that Oleksiy Arestovych, former Advisor to the Office of the President of Ukraine under Zelensky, previously declared (in 2019) that "with a 99.9% probability, our price for joining NATO is a big war with Russia."

Tyler Durden Thu, 02/20/2025 - 15:05

Boston University Employee Who Called For Death Of DOGE Team Now Under Investigation

Boston University Employee Who Called For Death Of DOGE Team Now Under Investigation

By Emily Sturge of Campus Reform

A Boston University employee who allegedly threatened members of the Department of Government Efficiency (DOGE) in a social media post is reportedly under federal investigation for potential violations of federal law.

Campus Reform recently reported that Jared May, who works as an assistant media technician at Boston University, shared a post online identifying six young members of DOGE with the caption, “Wanted for Treason, Dead or Alive.”

“We will not tolerate threats against DOGE workers or law-breaking by the disgruntled,” interim U.S. Attorney for the District of Columbia Edward R. Martin Jr. posted on X. 

Under federal law, threatening government officials is a felony.  

18 U.S.C. 111 states that anyone who “forcibly assaults, resists, opposes, impedes, intimidates, or interferes” a federal employee could be fined or face imprisonment. 

Martin publicly stated, “Our initial review of the evidence presented to us indicates that certain individuals and/or groups have committed acts that appear to violate the law in targeting DOGE employees.”

“We are in contact with FBI and other law-enforcement partners to proceed rapidly. We also have our prosecutors preparing,” Martin said.

U.S. Attorney for the District of Massachusetts Leah B. Foley also reportedly confirmed her office is investigating the matter, according to the Boston Globe

“We take those threats seriously,” Foley reportedly stated. 

“We will pursue any and all legal action against anyone who impedes your work or threatens your people…We will protect DOGE and other workers no matter what,” Martin wrote in a letter to Elon Musk shared on X. 

Campus Reform spoke with Ken Tashjy, who served as General Counsel for the Massachusetts Community College System for over 21 years and currently serves as a higher education attorney and consultant.

“Whether May’s post violates federal law or is considered protected speech under the First Amendment depends upon a variety of factors, including whether the threat was specific and credible, whether May intended to cause fear or harm to the DOGE employees, and whether the threat was tied to the employees’ official duties as federal workers,” Tashjy stated. 

Tashjy, a former Campus Reform Higher Education Fellow, cited the following potential violations:

May’s social media post may also violate Boston University’s policies, which could subject him to discipline or termination. 

The university Employee Handbook section titled “Professional Standards of Conduct” deems “violent behavior in any form, including threats” as “unacceptable employee conduct that have a direct bearing on the work environment and the general interests of the University.”

The code also prohibits “[i]llegal conduct occurring outside the workplace that bears upon the employee’s fitness for employment at the University” and “[a]ny action that would place the interests of an employee in conflict with the interests of Boston University.”

According to Tashjy, May’s social media post “could constitute a threat of violence in violation of BU’s Rules of Conduct.”

“His post also fails to uphold BU’s ethical standards of honesty and integrity, places his interests in conflict with the interests of the University, and raises serious questions about his fitness for continued employment. Further, based on the extensive media coverage, his actions have reflected poorly on the University,” Tashjy stated.

“Under the circumstance, adequate grounds exist to discipline Mr. May, up to and including termination,” he continued. 

In a statement on behalf of Boston University, a representative said, “We are aware of a post made by an employee on his personal social media account…We do not comment on personnel matters. The views expressed do not reflect the values of Questrom School of Business,” reports Boston.com.

Tashjy explained that because Boston University is “a private institution of higher education, the First Amendment’s free speech protections do not apply to Boston University, and it has greater flexibility to discipline speech that might otherwise be protected at a public institution.”

“BU is free to discipline May for his online speech in accordance with its own policies,” he concluded.

Amid the backlash on social media and from federal prosecutors, May’s staff webpage on the university’s website has been removed.

 

Tyler Durden Thu, 02/20/2025 - 14:45

Over 500 COVID Studies Retracted For "Unreliable" Information

Over 500 COVID Studies Retracted For "Unreliable" Information

By Owen Girare of The College Fix

Retractions are driven by pressure to produce studies quickly, watchdog co-founder says

More than 500 studies on COVID-19 have been withdrawn due to “bias,” “unreliable” information, or unspecified reasons, a blog that tracks retracted documents, found.

Retraction Watch co-founder Ivan Oransky told The College Fix via phone interview one reason for the high number of retractions is the academic system’s incentive structure which pressures researchers to rapidly produce studies and get them peer reviewed as quickly as possible.

“Why do they feel the need to rush papers through? Well, it’s because that’s how they get or keep their jobs, that’s how they get grants, everything is based on that,” he said.

“When you know that your whole career depends on publishing papers in particular journals, you’re going to do what you have to do to publish those papers. Most of the time that means you work hard, you hire the smart grad students and postdocs,” he said.

Oransky also said researchers may feel “too desperate” or that “incentives are so stark” that there’s no “humanly possible way” to do it. “So you start engaging in misconduct,” he said.

The articles in the list pertain to risk factors related to COVID-19 vaccines and various alternative treatments for the disease.

“It’s really a range of everything from essays to big clinical trials,” he said.

Oransky pointed The Fix to one of his research letters examining the differences between retractions of COVID-19 and non-COVID-19 related research papers.

The results showed that papers on COVID-19 had a higher likelihood of being retracted or withdrawn within the first six months of publication and that they were more likely removed “without detailed explanation or for non-misconduct-related concerns.”

He said retracting papers is not necessarily a bad thing, as it can correct information that was potentially wrong or misleading. Ensuring clear and concise reasoning for retractions is crucial, he told The Fix.

“The problem is when papers aren’t retracted. The problem is when papers sit in the literature, people know there’s a problem, but everybody refuses to do anything about them,” Oransky said.

Further, many people use retractions to argue the government, drug companies, and others are untrustworthy. Generally, those people either “have an axe to grind” or are “just trying to sell the public something,” he said.

A retraction simply says the information “is unreliable.” “It doesn’t remove it from the world,” he said.

However, the transparency of the process varies. Some retraction notices provide no explanation, while others include detailed reasons for the retraction.

One of the retracted papers in the list, which question why children are being vaccinated against COVID-19, was withdrawn due to “unreliable” findings stemming from “inappropriate bias,” according to the retraction notice.

Another paper on COVID-19 vaccination risks was completely withdrawn without any explanation. Oransky told The Fix that full withdrawals are not considered best practice.

In other instances, retractions occurred because the author or editor sought further information they wanted to include or because of a technical error that occurred during the study that affected the results.

The College Fix reached out to the publisher of the COVID vaccination risk study, Elsevier, seeking an answer as to why the paper was removed without an explanation. The publisher said because the article was published in 2020, it wouldn’t be able to determine why it was withdrawn within a reasonable amount of time.

“Our goal is to prevent any cases that could potentially compromise the integrity of the scientific record and trust in research,” an Elsevier spokesperson told The Fix.

“The paper in question was retracted some years back and since then the journal has undergone editorial and review changes,” the spokesperson said.

Tyler Durden Thu, 02/20/2025 - 14:20

In Ominous Post, Leftist MEP Verhofstadt Says Trump Is "NATO's Greatest Threat"

In Ominous Post, Leftist MEP Verhofstadt Says Trump Is "NATO's Greatest Threat"

Via Remix News,

In an incendiary post on X, Belgian MEP Guy Verhofstadt called U.S. President Donald Trump the “greatest threat” to NATO, marking a sharp escalation in rhetoric, and potentially a threat to Trump himself.

“Trump is Putin’s puppet, and he’s making it clear: NATO’s greatest threat isn’t abroad, it’s sitting in the White House. Blaming Zelensky for Russia’s war is outright Kremlin’s propaganda. He’s not just betraying the Atlantic alliance—he’s working to dismantle it. Europe, wake up NOW before it’s too late,” wrote Verhofstadt.

The remarks come after an increasing war of words between Trump and Ukrainian President Volodymyr Zelensky, who Trump has now labeled a “dictator.” The U.S. president is seeking a peace deal to end the war in Russia and has sharply turned against Zelensky. Trump said he had “4% support” in the country and needed to call new elections. He has also raised questions about what he says is $350 billion in missing funds.

Zelensky was known to keep offshore accounts before the war and was named in the Pandora Papers. Accusations have swirled about Zelensky’s assets but much of it remains hidden in offshore bank accounts. Officially, he has approximately $4 million in assets.

As for Verhofstadt, the very wealthy left-liberal politician is known for his deep hatred of politicians who oppose his agenda, with Hungarian Prime Minister Viktor Orbán one of his top targets.

In 2022, for instance, Verhofstadt called Orbán a “traitor” for his efforts to end the war in Ukraine.

However, labeling Trump the “biggest threat” of NATO has borderline militaristic implications and calls into question what Verhofstadt thinks Europe should do about what he believes to be the biggest “threat” to the largest military alliance in history.

The comments section to his post is lively, with some asking if Verhofstadt’s comment constitutes a threat in itself. Others point out to the incredibly lopsided amount of American military spending in comparison to Europe.

Read more here...

Tyler Durden Thu, 02/20/2025 - 13:40

Druckenmiller Piles Into US Airline Stocks With Hopes Of Smooth Takeoff In Trump Era

Druckenmiller Piles Into US Airline Stocks With Hopes Of Smooth Takeoff In Trump Era

Duquesne Family Office Chairman Stanley Druckenmiller told CNBC last month that "animal spirits" have returned to the market, driven by "giddy" CEOs anticipating Trump's return to the White House. His comments coincide with a new 13F filing revealing some big airline stock bets.

Last quarter, George Soros' former money manager piled into airline stocks, including United Airlines, American Airlines, and Delta Air Lines. 

Druckenmiller's investment firm disclosed 21 new positions in stocks including United Airlines, American Airline and Delta Air in the final quarter of 2024. United Airlines was his largest new buy, consisting of 2.8% of his overall portfolio. The purchases come as the hedge fund reduced its stake in the technology sector by 5.3%. -Bloomberg

Druckenmiller's bullish airline bets come as the global aviation sector is forecasted to expand this year, according to a new BloombergNEF report: 

The global aviation sector will continue to expand in the foreseeable future, thanks to rising population, higher income per capita across geographies and continuous economic development between regions. The growing appetite for air travel will drive up the sector's fuel use. 

Implied jet fuel demand worldwide has remained above average in the last four years. 

Domestic flights are accelerating in the second half of February. 

According to figures released by the Transport Security Administration (TSA), airport checkpoint data remains above a four-year average for this time of year as spring flying season nears. 

While the S&P 500 continues to reach record highs, driven by AI and 'Powering Up America' themes, airline stocks remain major laggards—but not overlooked by Druckenmiller. If Trump can beat Biden-Harris regime's inflation storm, stabilize geopolitical tensions in Eastern Europe and the Middle East, and restore economic certainty, airlines might be ready for a smooth takeoff. 

The question remains: When will the prospect of supersonic travel reignite investor interest in airline stocks?

It's coming. Theme to watch... 

Tyler Durden Thu, 02/20/2025 - 13:20

"And Just Like That" - Does NATO Even Exist Any More?

"And Just Like That" - Does NATO Even Exist Any More?

By Michael Every of Rabobank

Even shrugging off three-plus weeks of shocking headlines, some in markets must surely wake up today "And just like that…" realize the world around them has changed dramatically. We no longer live in a market dream Manhattan with glamour, lunches, petty insults, and expensive shoes. Rather, we are in a reality with clamor, golf games, petty insults, and expensive jackboots.

President Trump has called President Zelenskyy a corrupt “dictator” who ‘started the Ukraine War,’ warning he must make a deal while he ‘still has a country left.’ That sounded like Kremlin terminology to many European ears. Yet the US walking away from Ukraine without them even being at the table is no shock historically: does one not recall the fate of the Afghan government? Or President Mubarak? Or the South Vietnamese?

In response, Europe is assembling a crisis group of the EU, except Slovakia and Hungary, and everyone in NATO, except those two… and the US. This leads some to wonder if NATO can hold together. Yet without it, what can the others do? Even as the UK and France float air support for Ukraine, bringing them close to confrontation with Russia, that still requires US logistics: some ‘Great Power’ and ‘strategic autonomy’. Where next if the US defence umbrella which markets have been able to lunch and golf under since 1945/1991 folds?

That question is also aimed at the EU. As Professor of European Studies @stefanauer_hku warns:

“EUrope is finished. And it’s not just that France and Germany might no longer find it possible to work together (as @BecirovicMuamer points out). There will be conflicts between those countries who continue seeking security from the US (e.g., Poland) and those who won’t.”

Making his point, the Financial Times says European bond yields are rising and curves steepening on the prospect of that higher defence spending, i.e., Denmark just raised its arms spending by a massive 70%; as Ireland’s finance minister, the president of the group of Eurozone finance ministers, states the EU should stick to its spending rules rather than increasing defence investment – and who knows more about defence spending than… Ireland?

Beyond the fiscal side, unless one boosts industrial production in tandem, which involves “What is GDP *for*?” choices, then higher defence spending just sucks in importsand of whose weapons, if Europe and the UK don’t make them, and the US is seen as unreliable?  

This isn’t solely an EU issue: China just sailed a warship 150 nautical miles from Sydney, showing its new power projection. Australians may tell themselves that it was just scouting for beach-side property in the eastern suburbs, but that is not much comfort. The jobs numbers today Down Under (+44K vs. +20K consensus) may have been good enough to keep the RBA on hold after their recent cut, but it’s no longer the major focus in Canberra, one might think.

Indeed, the Washington Post reports Defence Secretary Hegseth has ordered 8% Pentagon budget cuts for each of the next FIVE years, which would almost halve current spending. Even addressing layers of fat and invoice-padding, it seems everywhere but the Indo-Pacific region is expendable. Of course, Congress may not agree, but if it does, many will be asking who has their back. One would assume the long end of curves will go back up to reflect that defence spending and uncertainty.

In what would otherwise be headline news, Elon Musk has floated sending $5,000 checks to each American from apparent DOGE savings, as Trump said he favoured sharing 20% of the total saved. Of course, this is all past (mis?)spending and that would just bring the US deficit back again.

Undeterred, Commerce Secretary Lutnick stated a White House goal is to remove the IRS, as Trump backs the House budget bill that includes $4.5 trillion in tax cuts: note the 100% expensing for new US factories, the 15% for anything made in America, and lower taxes on oil producers in an attempt to drive energy prices down further.

And that’s as President Putin floats an energy summit between himself, the US, and Saudi Arabia, who together control 40% of the world’s oil, following on from the US and Russia already suggesting that they may develop Arctic oil together.

Failing to make any impact was a headline in The New York Times saying Trump wants a new, better trade deal with China. Don’t we all? That certainly runs entirely counter to the massive tariffs that are coming in around five weeks – unless markets think that the president who can do all of the above isn’t serious about tariffs “because markets”.

An early leak of Europe’s Clean New Industrial Deal is also a U-turn from neoliberalism. In short, it argues for “made-in-EU” quotas for both the public and private sectors and carbon product labels -- economic statecraft non-tariff barrier local content rules-- to make 40% of clean tech in Europe rather than buying it from China. Furthermore, to bring down energy costs the plan is to cut energy taxes and use the European Investment Bank to lend vast sums for new grid and LNG plants, etc. --economic statecraft subsidies and/or off-book quasi-fiscal spending-- and an "EU critical raw material centre" to "jointly purchase raw materials" for groups of companies – economic statecraft market intervention. Naturally, this means more zero-sum global trade policy.

Summarising things, the Financial Times has an op-ed bewailing “Who will stabilize the global economy?” It points out a century ago the rising US giant, then still number two to the wounded post-WW1 British Empire, was a mercantilist rather than a stabilising force. We know how that ended in 1929, the 1930s, and the 1940s. Today, the US is going back down that path in response to a mercantilist China which never tried to go anywhere else – and so nobody is going to stabilise the global economy.

The latest Fed minutes discussed the possible effects of changes in US trade and immigration policy, as well as differentiating between the temporary and the persistent inflation impacts. Frankly, they haven’t got a clue about that, or any of the above news. Indeed, it’s unfair to expect them to --our contemporary central bankers are just not cut from that kind of intellectual cloth-- and a few Fed members might even be looking at the treatment of Zelenskyy and feeling nervous.

For now, US rates are clearly on hold, following which the Fed will say “And just like that…” and…

Tyler Durden Thu, 02/20/2025 - 13:00

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