Super Bowl Pales In Comparison To The Biggest Game In Soccer
Super Bowl Pales In Comparison To The Biggest Game In Soccer
While Americans are getting ready for the 59th Super Bowl, the rest of the world isn't as fussed about what is arguably the biggest overall spectacle in the world of sports.
With all the headlines surrounding the Super Bowl and the show that comes with it, https://www.statista.com/chart/16875/super-bowl-viewership-vs-world-cup-final/
that it’s easy to overestimate the global appeal of the biggest game in (American) football.
Speaking of football, soccer, i.e. the proper kind of football from a European perspective, far exceeds the https://www.statista.com/topics/1264/super-bowl/
in terms of global interest. The FIFA World Cup Final, played every four years to culminate a month-long tournament of 32 nations, really is the biggest game in the world, regularly reaching more than a billion people across the globe.
https://www.statista.com/chart/16875/super-bowl-viewership-vs-world-cup-final/
You will find more infographics at https://www.statista.com/chartoftheday/
, the 2022 World Cup Final between Argentina and France reached an average live audience of 571 million viewers across the globe, with more than 1.4 billion people watching at least one minute of the 120-minute thriller live.
The 2024 Super Bowl pales in comparison, despite reaching new viewing records both domestically and internationally.
According to Nielsen, Super Bowl LVIII drew an average audience of 123.7 million viewers in the U.S. plus a total international audience of 62.5 million.
Over the past decade, Super Bowl viewership has experienced fluctuations.
After a peak in 2015, where Super Bowl XLIX was watched by almost 115 million people, viewership declined in four consecutive years, even dropping back below 100 million in 2019 and 2021.
However, recent games have seen a resurgence in audience numbers, culminating in the record-breaking viewership of Super Bowl LVIII, which some have attributed to https://www.statista.com/study/162185/the-era-of-taylor-swift/
and her relationship with Travis Kelce, tight end for the Kansas City Chiefs.
https://www.statista.com/chart/7850/super-bowl-tv-viewership/
You will find more infographics at https://www.statista.com/chartoftheday/
The Swift-Kelce storyline has further added to the Super Bowl's significance not only as a sporting event but also as a cultural phenomenon that captivates millions across the nation. It is this combination of sports, show and commerce that makes it true must-see TV.
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Sun, 02/09/2025 - 13:25
https://www.zerohedge.com/geopolitical/super-bowl-pales-comparison-biggest-game-soccer-1
Trump Doubles CBS Lawsuit Damages To $20 Billion Over Harris's 60 Minutes Interview
Trump Doubles CBS Lawsuit Damages To $20 Billion Over Harris's 60 Minutes Interview
(emphasis ours),
President Donald Trump has expanded his lawsuit against CBS, doubling the damages sought to $20 billion and adding CBS parent company Paramount Global as a defendant.
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The amended https://storage.courtlistener.com/recap/gov.uscourts.txnd.396451/gov.uscourts.txnd.396451.36.0.pdf
, filed on Feb. 7 at the U.S. District Court for the Northern District of Texas, alleges news distortion, election interference, and financial harm caused by CBS’s handling of its “60 Minutes” interview with Democratic presidential candidate Vice President Kamala Harris.
“It is beyond dispute that Defendants wanted Harris to win the Election, and indeed political gain for Harris was certainly Defendants’ intent behind their tampering with the Interview,” the amended complaint reads. “But Defendants’ primary motivation was commercial and pecuniary gain.”
Trump’s legal team claims that CBS deceptively edited Harris’s responses to make her appear more articulate and composed, while also diverting viewership from Trump’s media platform, Truth Social, reducing ad revenue. The complaint asserts that CBS intentionally aired different portions of Harris’s remarks on “Face the Nation” and “60 Minutes,” misleading the public about her full statements.
“Once Defendants finally released the unedited version of the Interview, it became apparent that they had engaged in gross broadcast distortion cover-up and manipulated not only Harris’s Reply about Prime Minister Netanyahu, but the Interview in its entirety,” the amended complaint reads.
CBS has dismissed the claims and maintains its edits were standard journalistic practice.
“We are posting the same transcripts and videos of our interview with Vice President Kamala Harris that we provided to the FCC [Federal Communications Commission],” the network said in a Feb. 5 https://www.cbsnews.com/news/60-minutes-publishes-transcripts-video-requested-by-fcc/
. “They show–consistent with 60 Minutes’ repeated assurances to the public–that the 60 Minutes broadcast was not doctored or deceitful.”
CBS further stated that a longer portion of Harris’s response aired on Face the Nation while a shorter one aired on 60 Minutes for the sake of brevity.
“As the full transcript shows, we edited the interview to ensure that as much of the vice president’s answers to 60 Minutes’ many questions were included in our original broadcast while fairly representing those answers,” the network stated. “60 Minutes’ hard-hitting questions of the vice president speak for themselves.”
The uncut transcript https://www.dropbox.com/scl/fi/pbq6fcc0iltxnx3ahukmz/Transcript-Transcribed-Unedited-Interview-Footage-8-of-14.pdf?rlkey=7xvynvcj6is6eukyclmbg7i6u&e=1&st=gzy0zb4u&dl=0
that some of Harris’s answers were cut roughly in half and clarifies her full response to a question about the Israel–Hamas war, which Trump’s campaign claimed was awkwardly phrased and was unfairly edited to improve her image. The transcript also shows that Harris’s complete answer was a combination of the two aired clips.
“Well, Bill, the work that we have done has resulted in a number of movements in that region by Israel that were very much prompted by, or a result of many things, including our advocacy for what needs to happen in the region. And we’re not going to stop doing that. We are not going to stop pursuing what is necessary for the United States to be clear about where we stand on the need for this war to end,” Harris said, per the transcript.
Reacting to the transcript’s release, Trump https://truthsocial.com/@realDonaldTrump/113956631326391344
in a post on social media that it shows CBS had removed Harris’s “horrible election changing answers” and replaced them with better ones and that this was election interference and “election fraud at a level never seen before.” He also called for CBS to lose its broadcasting license.
Trump’s original https://www.courtlistener.com/docket/69332852/1/trump-v-cbs-broadcasting-inc/
, filed on Oct. 31, 2024, sought $10 billion in damages from CBS for alleged news distortion and election interference. The amended complaint seeks an additional $10 billion under the Lanham Act, which covers false advertising and unfair competition, citing harm to Trump’s business interests, including Truth Social.
“As a direct and proximate result of Defendants’ misconduct, significant viewership was improperly diverted to Defendants’ media platforms, resulting in lower consumer engagement, advertising revenues, and profits by TMTG and President Trump’s other media holdings,” the amended complaint reads.
The new filing also names Rep. Ronny Jackson (R-Texas) as a plaintiff, arguing that he was harmed as a consumer of misleading broadcast news.
Trump’s lawsuit coincides with the Federal Communications Commission’s (FCC) decision to reopen a news distortion complaint against CBS, initially https://docs.fcc.gov/public/attachments/DOC-408913A1.pdf
by new FCC Chairman Brendan Carr.
“CBS played the same question on two different programs and clearly the words of the answers were very different,” Carr said in a Fox News interview. “Was it edited for clarity and length—which would be fine—or are there other reasons?”
Democrat FCC Commissioner Anna Gomez https://docs.fcc.gov/public/attachments/DOC-409255A1.pdf
the move a retaliatory effort to intimidate the media.
The Epoch Times has reached out to CBS and Paramount with requests for comment on the amended complaint.
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Sun, 02/09/2025 - 11:40
Syria's New Rulers 'Open' To Letting Russian Bases Stay
Syria's New Rulers 'Open' To Letting Russian Bases Stay
In an unexpected development, Syria's Islamist Hay'at Tahrir al-Sham (HTS) government says it is 'open' to allowing Russia to keep its permanent air and naval bases on the Mediterranean coast.
Russian forces throughout the country had rapidly pulled back to the two bases since Bashar al-Assad's December 8 ouster. Since then the naval base at Tartus and the Khmeimim Air Base near Latakia have seen a scramble of personnel packing up equipment, with the fate of the bases uncertain.
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Regional reports have said that much of the equipment is being relocated to a 'friendly' port in eastern Libya under warlord Khalifa Haftar. But Moscow would clearly like to maintain its only deep-water Mediterranean port, and wants the best outcome for its strategic presence in the Middle East.
Of course, the West is pressuring HTS and self-declared President of Syria Ahmed al-Sharaa (aka Jolani) to boot the Russian bases.
The Washington Post reports, "Syria is open to letting Russia keep its air and naval bases along the Mediterranean coast as long as any agreement with the Kremlin serves the country’s interests, Syrian Defense Minister Murhaf Abu Qasra said in an interview this week, underscoring the pragmatic approach taken by his government as it charts new alliances and reassesses old ones forged under the previous regime."
It appears the new Syrian government realizes it may be more valuable to deal with Russia closely rather than force its exit from the region, as part of a pragmatic https://archive.is/ADr55#selection-577.0-577.411
:
Russia’s attitude toward the new Syrian government has “improved significantly” since the fall of President Bashar al-Assad in December, and Damascus is weighing Moscow’s demands, Abu Qasra said, signaling a dramatic shift among the former militants who make up the new Syrian government.
Until recently, rebel fighters like Abu Qasra, a key leader in Syria’s insurgency, were under constant bombardment by Russian warplanes. But “in politics, there are no permanent enemies,” he said of Moscow, once Assad’s most powerful ally. Asked if Russia would be allowed to maintain its naval port at Tartus and the Hmeimim air base in Latakia, Abu Qasra said: “If we get benefits for Syria out of this, yes.”
One major card that Washington has yet to play is the ongoing crippling sanctions which still have not been lifted. Currently the EU is said to be discussing lifting its sanctions on the country's oil and energy sector, but the US appears in no hurry.
Washington might attempt a quid pro quo which requires Damascus to tell the Russians to finally pack it up and leave, and in return US sanctions would be dropped. The capital and most other cities still only have perhaps an hour of electricity a day, and food and basic necessities of life are still extremely expensive after sanctions-induced inflation.
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But also, other US officials might see Russia as possibly a stabilizing presence at a moment Trump is said to be mulling a US withdrawal from Syria. Russia is generally friendly with the US-backed Syrian Democratic Forces, made up largely of Syrian Kurds, and the fear is that Turkey will move in to northern Syria. A Russian presence might dissuade or balance this, however.
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Sun, 02/09/2025 - 11:05
https://www.zerohedge.com/geopolitical/syrias-new-rulers-open-letting-russian-bases-stay
What Business Leaders Need To Know About Trump Tariffs
What Business Leaders Need To Know About Trump Tariffs
President Trump says what he means and means what he says.
Global business leaders would be well advised to believe him when https://www.whitehouse.gov/remarks/2025/01/remarks-by-president-trump-at-the-world-economic-forum/
“Come make your product in America, and we will give you among the lowest taxes of any nation on Earth” and added, “but if you don’t make your product in America, which is your prerogative, then, very simply, you will have to pay a tariff.”
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On Feb. 1, Trump https://www.whitehouse.gov/fact-sheets/2025/02/fact-sheet-president-donald-j-trump-imposes-tariffs-on-imports-from-canada-mexico-and-china/
against China, Canada, and Mexico. Citing the “extraordinary threat posed by illegal aliens and drugs, including deadly fentanyl,” he imposed an additional 10% tariff on all imports from China and 25% tariffs on all imports from Mexico and Canada. Although President Trump granted a temporary reprieve following phone calls with leaders of Mexico and Canada, those tariffs will be implemented in March unless Trump modifies his executive order.
More brinksmanship over trade is on the horizon.
On the first day of his second term, the president ordered https://www.whitehouse.gov/presidential-actions/2025/01/america-first-trade-policy/
of bilateral trade relationships and multilateral trade deals. These reports and their findings are due April 1. Potential sectoral and country-specific tariffs are expected thereafter. For China, expect Trump to pursue maximum pressure in the form of further increased tariffs on Chinese imports. Trump will seek as much leverage as he can ahead of potential trade talks with President Xi.
Expect the unexpected in tariff policy.
The business community should hope for the best but plan for the worst as America’s trade deals are revised.
Here are four guideposts for global businesses as they navigate the early months of Trump’s second term:
First, when Trump says, “https://www.bloomberg.com/news/newsletters/2024-10-15/in-trump-s-economic-plan-tariff-is-the-most-beautiful-word
,” believe him.
His philosophy on trade has been consistent going back to his https://www.nytimes.com/2019/05/15/us/politics/china-trade-donald-trump.html
on trade and tariffs amid Japan’s 1980s boom. Business leaders would be wise to onshore as much of their operations as is practical.
Second, the age of globalization and transnational supply chains is ebbing.
When engaging with Trump and his team, business leaders should downplay their defense of globalization and pursue onshoring strategies that allow their companies sufficient time to transition supply chains domestically.
Third, lowering or eliminating bilateral trade deficits is a priority.
Trump continues to focus on America’s trade deficits with countries such as China, Mexico, and Germany. Corporate leaders seeking stability should engage Washington stakeholders and leaders in foreign capitals.
Fourth, trade policy should not be viewed in isolation from the rest of https://www.econclubny.org/documents/10184/109144/20240905_Trump_Transcript.pdf
.
The president is determined to extend the 2017 tax cuts for businesses and individuals, reduce regulations on businesses, make the federal permitting system transparent and predictable, and provide a more permissive environment for mergers and acquisitions.
President Trump views his reelection as a mandate for change. He will do everything he can to upend decades of trade and economic orthodoxies. Business leaders should take Trump’s inaugural address and remarks to the World Economic Forum literally and seriously. Together, they offer a roadmap for what to expect from the next four years.
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Sun, 02/09/2025 - 10:30
https://www.zerohedge.com/geopolitical/what-business-leaders-need-know-about-trump-tariffs
'Red Line': Trump's Gaza Takeover Plan Has United The Arab World More Than Ever
'Red Line': Trump's Gaza Takeover Plan Has United The Arab World More Than Ever
As predicted, President Trump's controversial calls for the US to 'takeover' the Gaza Strip is for the first time in many years uniting the Arab world and its leadership more than ever.
Ultra-provocative plans have been floated from the administration over the past days, including reportedly the idea of setting up a Palestinian state inside Saudi Arabia, or elsewhere in northern Africa.
the African states of Morocco and the Puntland State of Somalia as places where Palestinians from the Gaza Strip could be expelled. The secessionist Republic of Somaliland was specifically named in a Channel 12 report, but this hasn't come directly from the US administration per se.
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Naturally this is going to inflame Muslim sentiment in the region. Egypt has been among the first influential Arab and North African states to blast the Trump plan while expressing solidarity with https://www.arabnews.com/node/2589468/middle-east
:
Egypt condemned on Saturday as “irresponsible” statements by Israeli officials suggesting establishing a Palestinian state on Saudi territory, according to a statement by Egypt's foreign ministry.
The foreign ministry said it considered the suggestion a “direct infringement of Saudi sovereignty”, adding that the Kingdom's security was a “red line for Egypt”.
Of course, Riyadh swiftly condemned the plan, saying it will remain unwavering on the question of full Palestinian sovereignty. It said it will never normalize relations with Israel if Palestinians are expelled from Gaza.
Without doubt, this is going to greatly complicate US relations with the Saudis and make things harder for Trump policy in the whole Arab world, as one regional news source https://www.middleeasteye.net/news/saudi-press-slams-trump-bid-take-over-gaza
:
The headlines across Saudi Arabia this week have been, by all accounts, as “firm and unwavering” as the kingdom’s official position on Gaza, rejecting outright any normalisation process with Israel without a Palestinian state in the equation.
US President Donald Trump on Tuesday, alongside Israeli Prime Minister Benjamin Netanyahu, told reporters that Riyadh no longer has the precondition of a Palestinian state in order to open up diplomatic relations with Israel.
A short time later, Trump made the stunning announcement that the US would expel Gaza’s residents to nearby countries and then "take over" the enclave and https://www.middleeasteye.net/news/trump-wants-make-gaza-holiday-hub-without-palestinians
.
Within minutes, at 4am local time, Saudi Arabia issued a statement rejecting the entire premise.
“The Palestinian state is not the subject of negotiation or concessions,” read the headline in Saudi’s https://www.alwatan.com.sa/article/1160641
newspaper, citing the foreign ministry.
Since then, other Arab League members have agreed and expressed outrage and condemnation. Jordan too has rejected all calls to absorb hundreds of thousands more Palestinians.
'Everybody loves it': US President Donald Trump persists with Gaza takeover plan https://t.co/mARBXDBajr
— The National (@TheNationalNews) https://twitter.com/TheNationalNews/status/1887345856652726762?ref_src=twsrc%5Etfw
Trump has been specifically pressuring Egypt and Jordan to take in the Gaza Strip's one million plus Palestinians. But the reality is that it will simply be a non-starter and practically impossible, without Arab support. The Arabs in turn have blasted this as brazen and open ethnic cleansing campaign of historic and sovereign territory. The United Nation has also issued such condemnations.
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Sun, 02/09/2025 - 07:35
Russia's Foreign Spy Agency Claims That NATO Wants To Depose Zelensky Through New Elections
Russia's Foreign Spy Agency Claims That NATO Wants To Depose Zelensky Through New Elections
https://korybko.substack.com/p/russias-foreign-spy-agency-claims
Russia’s foreign spy agency (SVR) claimed last week that it’s received information alleging that NATO wants to depose Zelensky through new elections, which follows US Special Envoy for Ukraine and Russia Keith Kellogg calling on that country to https://korybko.substack.com/p/territorial-concessions-might-precede
its long-delayed presidential and parliamentary ones. SVR added that the bloc will launch a large-scale information campaign to discredit Zelensky by exposing his corruption, such as the funds that he and his team supposedly stole through various means.
This isn’t the first time that SVR has claimed to have knowledge of Western plots to replace Zelensky, some of which were cited and analyzed https://korybko.substack.com/p/assessing-the-veracity-of-svrs-latest
last June that the West will make moves in the first half of 2025 to replace Zelensky.
Kellogg’s previously cited comments and Politico’s subsequent piece about how “https://www.politico.eu/article/ukraine-freak-out-us-russia-push-election/
” suggest that there’s some truth to SVR’s latest claim, though it remains to be seen whether Ukraine will hold elections later this year and if Zelensky will even run in that case.
Nevertheless, the argument can be made that Trump prefers to get Zelensky out of the way since he was the Biden Administration’s top foreign policy asset, plus those two don’t like each other that much.
Democratically replacing Zelensky, even if the process isn’t free and fair should the US meddle in it to ensure that he either doesn’t run or that he loses if he does, is the most “face-saving” means to that end since the West can then present it as alleged proof that Ukraine is a “real democracy”. Trump’s return to office heralds a new era in International Relations so he might want to replace liberal-globalist leaders like Zelensky with like-minded populist-nationalist ones in order to help him implement his agenda.
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Zelensky is one of the most symbolic remnants of the liberal-globalist era that’s finally ending.
Him remaining in power could therefore impede the new populist-nationalist era that Trump is pioneering, ergo the need to replace him with someone who’s more aligned with his worldview. While speculation abounds about who that could hypothetically be, the argument can be made that Zelensky’s former advisor Alexey Arestovich would be a prime contender due to the https://112.ua/en/arestovic-cerez-pivroku-svit-kardinalno-zminitsa-a-stari-eliti-vidijdut-u-minule-50882
that he’s espoused.
At any rate, everything should become clearer after Kellogg’s reported trip to Kiev in the middle of this month, which https://en.iz.ru/en/1834547/2025-02-06/ukrainian-media-reported-about-kelloggs-planned-visit-kyiv-february-20
claim will follow his attendance at the Munich Security Conference from 14-16 February. Leaks about his discussions with Zelensky and other European leaders will likely follow. This will allow observers to get a better sense of the veracity of SVR’s latest report. If it’s lent even partial credence in an objective sense, then more people might take their next reports even more seriously.
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Sun, 02/09/2025 - 07:00
What Does National Security Have To Do With Soaring Defense Spending?
What Does National Security Have To Do With Soaring Defense Spending?
,
Paraphrasing Thomas Jefferson, the natural progress of things is for prices to yield and for quality to gain ground. Technology is what enables this natural progress. Do televisions cost more now than they did in the early ‘90s? What about mobile phones? Same answer for both questions: both are better and less expensive today than they were in the early ‘90s, which is why one will conclude that something is awry when reading https://www.zerohedge.com/geopolitical/global-military-spending-has-almost-doubled-early-90s
like “Global Military Spending Has Almost Doubled Since the Early ‘90s.”
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Why has military spending almost doubled since the early ‘90s? Arguably for the same reason hospital services have: government https://www.aei.org/carpe-diem/chart-of-the-day-century-price-changes-1997-to-2017/
. Those who ‘serve’ in government endlessly tax the present because they arrogantly claim to know what the future should be rather than allow the future to unfold via voluntary exchange between producers and consumers. Against all reason and historical precedent, they claim that, in order to stay safe, ‘defense’ spending must increase. But that’s like claiming that, in order for eggs to contain yolks, the cost of raising chickens must necessarily outpace the rate of inflation.
“But but but” the unthinking screech, “the world is much more dangerous today!” Perhaps, but is warfare immune from technological advance? No, as Jefferson’s actual quote helps explain: “The natural progress of things is for liberty to yield and government to gain ground.” The world’s danger stems from governments’ https://mises.org/library/book/anatomy-state
. Wars aren’t cheap; governments don’t engage in them for fun. The people would rather not fight, but instead of consulting with the people, governments conscript them. Increased military spending is inversely proportional to market forces – the will of the people.
Military spending has almost doubled because the government that allegedly serves us trades our present liberty for its imagined, grotesque future. Weapons manufacturing is one of the most regulated – if not the most regulated – industries in the “land of the free,” and that regulation paves the way for the most perverse incentive imaginable: though the maiming, killing, and destruction of “them” and their cities equates to the decimation of their economy, “our” https://www.realclearmarkets.com/articles/2024/03/06/why_do_banks_extend_loans_to_governments_1016282.html
relies on it.Y
But work divided – not obliterated – is what enables the natural progress of things. And when the number and duration of wars are unknown, and when that uncertainty is combined with the fact that war – at least its initial phase – is entirely devoid of market forces, weapons manufacturers can charge whatever they like, considering the governments that purchase their products spend their citizens’ money and not their own. Governments have only what they’ve taken from the people they claim to serve, and they spend that money in the same way they obtained it: without https://original.antiwar.com/casey_carlisle/2024/06/04/the-speech-that-military-recruiters-dont-want-you-to-hear/
.
There’s nothing natural about military spending nearly doubling; it’s a choice, just like inflation. But these are not choices freely made by citizens; they’re choices imposed on citizens by those who claim to serve citizens. Where citizens do have a choice, however, is whether to enlist, but increasingly more patriots have decided to abstain from military enlistment. Why, then, would military spending increase while the number of those ‘serving’ https://www.realclearmarkets.com/articles/2023/03/17/low_rates_of_us_military_enlistment_signal_soaring_prosperity_887979.html
? Because, again, military spending is not the product of billions of freely transacting individuals but of a handful who claim with a straight face that they know better than the billions engaging in voluntary exchange (the global economy).
“That’s just the way things are” is what the https://www.antiwar.com/blog/2024/10/29/patriots-parasites-and-the-regime/
hope you’ll keep chanting, but that song is better ascribed to things subjected to market forces. “This is the way things will be” is why global military spending has doubled and will continue to increase. As long as the government—not the people – decides which weapons will be purchased and which wars will be funded, the people will continue to fund the increasingly expensive suffering of others worldwide for the benefit of their governments.
Casey Carlisle writes in the Pacific Northwest.
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Sat, 02/08/2025 - 23:20
https://www.zerohedge.com/political/what-does-national-security-have-do-soaring-defense-spending
USAID Funded Massive 'News' Platform, Extending 'Censorship Industrial Complex' To Billions Worldwide
USAID Funded Massive 'News' Platform, Extending 'Censorship Industrial Complex' To Billions Worldwide
In addition to propping up far-left corporate media outlets like https://www.zerohedge.com/political/politico-ny-times-propped-millions-dollars-us-government
, the United States Agency for International Development (USAID) has funneled half a billion dollars to a secretive non-governmental organization operating a global news propaganda matrix.
WikiLeaks published the bombshell report in the overnight hours that shows the massive taxpayer-funded state propaganda network - operating as a shady NGO - called "Internews Network":
USAID has pushed nearly half a billion dollars ($472.6m) through a secretive US government financed NGO, "Internews Network" (IN), which has "worked with" 4,291 media outlets, producing in one year 4,799 hours of broadcasts reaching up to 778 million people and "training" over 9000 journalists (2023 figures). IN has also supported social media censorship initiatives.
The operation claims "offices" in over 30 countries, including main offices in US, London, Paris and regional HQs in Kiev, Bangkok and Nairobi. It is headed up by Jeanne Bourgault, who pays herself $451k a year. Bourgault worked out of the US embassy in Moscow during the early 1990s, where she was in charge of a $250m budget, and in other revolts or conflicts at critical times, before formally rotating out of six years at USAID to IN.
Bourgault's IN bio and those of its other key people and board members have been recently scrubbed from its website but remain accessible at http://archive.org. Records show the board being co-chaired by Democrat securocrat Richard J. Kessler and Simone Otus Coxe, wife of NVIDIA billionaire Trench Coxe, both major Democratic donors. In 2023, supported by Hillary Clinton, Bourgault launched a $10m IN fund at the Clinton Global Initiative (CGI). The IN page showing a picture of Bourgault at the CGI has also been deleted.
IN has at least six captive subsidiaries under unrelated names including one based out of the Cayman Islands. Since 2008, when electronic records begin, more than 95% of IN's budget has been supplied by the US government (thread follows).
USAID has pushed nearly half a billion dollars ($472.6m) through a secretive US government financed NGO, "Internews Network" (IN), which has “worked with” 4,291 media outlets, producing in one year 4,799 hours of broadcasts reaching up to 778 million people and "training” over…
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888072129327083979?ref_src=twsrc%5Etfw
Not suspicious at all!
USAID (and State) funneled nearly half a billion dollars through this building which is at "876 7th St Arcata, CA 95521-6358". The IRS and IN government contracts list this address as the current registered address for IN although it was clearly abandoned by December 2024. Shot… https://t.co/ELzv3G4p5l
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888080368441704598?ref_src=twsrc%5Etfw
IN's funding has doubled since Trump's first-term victory, as the Deep State poured billions into combating so-called misinformation and disinformation targeting conservative media worldwide—all under the guise of "saving democracy."
IN's funding has doubled since 2016: https://t.co/8jnO6DMJwM
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888095415100141582?ref_src=twsrc%5Etfw
IN's complex funding graph.
Where Internews fits in the funding graph (h/t https://twitter.com/DataRepublican?ref_src=twsrc%5Etfw
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888098131537183170?ref_src=twsrc%5Etfw
The bio for IN CEO Jeanne Bourgault shows past jobs at Wired, Guardian, and other corporate media outlets.
Bio for Jeanne Bourgault: https://t.co/vZMGXfIpcA
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888096811253952834?ref_src=twsrc%5Etfw
Not surprising.
Removed Internews Network (IN) page of its chief executive Jeanne Bourgault at the Clinton Global Initiative (2023) https://t.co/hKInv2i9m2
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888076328919797866?ref_src=twsrc%5Etfw
Speaking at the globalist Davos event last year, IN's CEO argued that global advertisers should prioritize spending ad dollars on "good news." In other words, this would pressure companies to spend exclusively on far-left corporate media outlets while ensuring they slash ad spending on alternative media websites that do not promote state propaganda.
American taxpayers funded the global censorship matrix that has lied about wars, covid origins, vaccines, and go down the list...
Now I want you to listen to me very closely: when the CEO of USAID’s Internews pressured advertisers to create exclusion lists to only fund approved news sources, she was carrying out USAID’s formal policy goal to have USAID partners do “advertiser outreach” to “redirect funding” https://t.co/NVI6DtUfcl
— Mike Benz (@MikeBenzCyber) https://twitter.com/MikeBenzCyber/status/1888253355773825282?ref_src=twsrc%5Etfw
Wikileaks shows the moment in time when IN "lost its way"... And you'll never guess how.
How IN lost its way (2006, John Hopkins University Magazine):https://t.co/6L8NsDfJFs
— WikiLeaks (@wikileaks) https://twitter.com/wikileaks/status/1888205837761450135?ref_src=twsrc%5Etfw
IN's media matrix spans worldwide.
?itok=WBdCw40N
Here are the downstream holdings on IN via public records forensics data:
?itok=DFB2YnrK
"Internews is an international non-profit organization whose mission is to empower local media worldwide to give people the news and information they need, the ability to connect, and the means to make their voices heard," the NGO stated in an IRS 990 filing as its purpose of businesses.
Public records data shows IN has many business purposes worldwide, all in an effort to control a media matrix and ensure only state propaganda is told on the local level.
?itok=0zbM_DKi
How does it feel to know that your tax dollars are funding a state propaganda media matrix around the world?
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Sat, 02/08/2025 - 14:00
When The FAA And DEI Don't Mix
When The FAA And DEI Don't Mix
(emphasis ours),
I’d like to talk about diversity, equity, and inclusion (DEI).
[President] Donald Trump caused a firestorm in the aftermath of this horrific and tragic crash at [Ronald Reagan Washington National Airport]. He mentioned that he was going to examine the role of diversity, equity, [and] inclusion.
?itok=lyz8tT4i
What he meant was criteria other than merit that go into hiring these critical positions in the air traffic controller tower, but also as pilots and general in the military.
And people got very angry, and they said this was inappropriate. But like all things Donald Trump does, he tries to open a very sensitive issue in a very loud fashion, and that brings attention to it, and then, people do some investigation.
Greenland is a good example. “How dare he say he wants to buy Greenland?” Then we discover that Denmark is investing almost no money in Greenland. We discovered that Greenland is in North America. Did you know that? It’s closer to New York than it is in Copenhagen.
That this left-wing Danish government is way behind on its NATO contributions. And it’s an imperialist power with a colony that it doesn’t really help too much. So, there’s always more to it, and there is with diversity [and] inclusion.
So, now we are learning that there were mandates about a person’s race and mandates about a person’s sexual orientation.
When I say mandates, I mean that people who didn’t fit those criteria were not encouraged to apply. [The Federal Aviation Administration] disbanded a lot of university programs that encourage people with military experience or encourage people that had courses in scientific disciplines or mathematics or aeronautics not to apply.
And the assistant director of the FAA and a former applicant nominee who was rejected, they were just explicit about that.
But here’s the thing about DEI in general: It’s a system that has many faces. In the old Soviet Union, it was not race or gender, it was ideology. And one of the reasons, among many, but I think the prime reason, that the Soviet Union imploded was they had an apparat, a group of incompetents that swore that they were more ideologically and Marxist-Leninist pure than anybody else.
And they were given the top billets in rocket science and military affairs. We saw that in World War II, with the Red Army almost collapsed in June of 1941. And within a year, all the commissars were out.
DEI is a commissar system. I once was in Libya and I asked this person—a high government official—I was interviewing, I said, “You have potholes everywhere, but you’re the fifth-largest producer of oil in the world.”
“Mr. Hanson, we hire our first cousin, first. We’re a tribal society.” He told me that.
The thing about DEI—what Trump brought up with the FAA—ask yourself something: If it’s so good, why don’t people just say that? Why don’t they just say, we’re willing to have collateral damage? We’re going to bring in people that may not have traditional criteria or traditional resumes, but we’re willing to take that risk with your life.
They never say that.
And remember one thing else, if you hire someone on the basis of their race, or their gender, or their sexual orientation, and they know it, then why would that be the end of it? That is the beginning.
If you show up late for work, if you don’t do your job, if you’re subject to an audit, then you think, I want the same exemptions that were accorded me when I was hired. I need them.
And of course, no one ever discusses that. So, what we’re watching is, if it turns out to be true that the tower was understaffed, that one person was let go early, that the air traffic controller made a mistake, that the pilot was at the wrong [elevation], these were all mistakes.
It was a perfect storm, apparently, of blunders. And if those blunders are connected with people who felt they were not subject to meritocratic criteria, there’s going to be a scandal.
I’m not saying there is, but Donald Trump is bringing attention to it. And by bringing attention, then, what do we do? We review the Biden-Obama FAA, and we discover—not us, we knew it a long time—but the general public, discovers that they have been systematically using race and gender and sexual orientation, not just to promote particular people, but to exclude people who have had perfect scores on tests, who come from the military, who have majors in the type of college disciplines that would be perfectly suitable for an FAA controller.
And if that’s true, then we’re in big trouble. I’ll just finish with this observation: When affirmative action started, some 50 years ago, I was a graduate student, and one of the professors said, “You’re not going to get a job.” None of the three males in the graduate program in classics—when you get your Ph.D. or not—and I said to them, “That doesn’t seem fair.”
And he said, “We’re guinea pigs, academia. Who cares about a classics professor?” So, we will be, basically, diverse. But nobody’s going to worry about that you use criteria because who cares about classics?
I thought that was a very cynical thing to say about an advocate. But then he said, “But of course, we would never do this with atomic reactors, nuclear reactors. We’d never do this with brain surgeons.” And then he said this, “And we would never do this with FAA air traffic control.” And that’s exactly what we may have been doing.
[It] doesn’t mean that was culpable in this particular instance. It means that this particular instance has got us worried about the system, in general, and we want to improve it.
And one of the things we can do is take a hard look at the FAA.
Reprinted by permission from https://www.dailysignal.com/
.
Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.
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Sat, 02/08/2025 - 13:25
https://www.zerohedge.com/political/when-faa-and-dei-dont-mix
Another Key Donbass Town Captured By Russia As Pressure Grows On Zelensky
Another Key Donbass Town Captured By Russia As Pressure Grows On Zelensky
Russia’s Defense Ministry announced Friday that its forces had captured the coal mining town of Toretsk amid the slow but steady advance of its forces in Donetsk region. Russia calls the same town by the name of Dzerzhinsk, and state media is declaring its 'liberation' after Ukraine forces had long held it.
Journalist Guy Elster also wrote on X, "Russia said its forces had seized the key mining town of Toretsk in east Ukraine after months of fighting."
Ukraine's military had used Toretsk primarily as a staging ground from which to launch almost daily artillery, missile, and drone strikes on Russian front line positions in Donbass.
The Associated Press on Friday additionally detailed the ground situation https://apnews.com/article/russia-ukraine-war-toretsk-donetsk-5ab0c669480e2c62a03c4c03952288a3
:
Alkhimov, the 28th Brigade officer, told AP his unit continued to hold its ground on Friday afternoon. He added: “Intense (Russian) assault operations are ongoing.”
DeepState, an open-source Ukrainian map widely used by the military and analysts, showed late Thursday that Ukrainian troops were on the northwest edge of Toretsk and still had some soldiers inside the town itself.
"The Russia’s claimed fall of Toretsk, if confirmed, would advance its sweep across the Donetsk, which has cost Moscow heavily in troops and armor but has paid dividends for the Kremlin," AP continues.
"In the offensive, Russian forces crush settlements with the brute force of 3,000-pound (1,300-kilo) glide bombs, artillery, missiles and drones, then send in infantry units to attack the exposed defenders."
Last year saw the area towns and cities of Avdiivka and Vuhledar fall to the Russian onslaught, with last month Velyka Novosilka as well as Kurakhove falling.
The Russian Defense Ministry has also announced that the two small villages of Druzhba and Krymskoye, which lie to the northeast of Toretsk, have been taken this week.
Aftermath video showing war-ravaged Toretsk:
Toretsk was once a typical European town, brimming with homes, parks, stores, and schools. Until russian turned it into ruins. https://t.co/7tUhoOtiK6
— Kate from Kharkiv (@BohuslavskaKate) https://twitter.com/BohuslavskaKate/status/1887884109336260840?ref_src=twsrc%5Etfw
All of these had long generally formed a strategic belt of Ukrainian defenses in the east, which are fast crumbling, also as the key town of Pokrovsk is increasingly under threat. Military analysts say that once Pokrovsk falls, Russia will quickly be able to complete its hold over all of Donetsk.
Meanwhile, this week has seen a new offensive into Kursk by Ukraine forces, in a desperate effort to maintain some level of leverage before likely negotiations with Moscow commence.
Sat, 02/08/2025 - 07:35
Turkey Is Mulling Permanent Military Bases In Syria
Turkey Is Mulling Permanent Military Bases In Syria
https://news.antiwar.com/2025/02/06/turkish-officials-say-military-bases-in-syria-being-considered/
With Turkey focused on long-term goals in Syria that involve continuing to oppose Kurdish autonomy in the northeast, there are growing numbers of https://archive.is/jvwlT
are being considered to establish new military bases inside Syrian territory.
Details are still emerging on what this might look like, and thousands of Turkish soldiers are already reported to be operating on Syrian soil, mostly targeting the Kurdish SDF.
?itok=19qX8Xj3
Turkey has recently https://news.antiwar.com/2025/01/15/erdogan-threatens-turkish-invasion-of-syria-if-new-government-doesnt-eliminate-sdf/
government of Syria doesn’t eliminate the SDF.
The Islamists, the al-Qaeda-linked Hayat Tahrir al-Sham (HTS), has given multiple statements rejecting the idea of Kurdish autonomy. Turkish FM Hakan Fidan says the new HTS ruler of Syria is taking a firm stance against Kurdish "https://www.kurdistan24.net/en/story/823284
."
That the HTS is largely giving Turkey whatever they want with respect to Kurdish territory doesn’t necessarily mean Turkey won’t seek to increase its presence in the country.
The Turkish Defense Ministry, however, https://www.jfeed.com/news-israel/sr9w17
at this time, suggesting talk of new bases may be premature.
In the meantime, the Turkish-backed Syrian National Army (SNA) continues to attack SDF territory, and Turkish warplanes and drones are attacking Kurdish towns and cities.
In the Raqqa Governorate, almost exclusively SDF territory, activists are https://hawarnews.com/en/condemnations-in-raqqa-for-turkish-occupation-massacres-ne-syria
.
Fighting on the ground with the SNA is still mostly further west than Raqqa, in the Aleppo Governorate. In recent weeks, the focus has been on trying to take the Tishreen Dam, and Kurdish protesters have been rally at the dam calling for international intervention to prevent the Turkish destruction of it. Tishreen Dam is a key source of fresh water and electricity for northeastern Syria.
Map of Syrian situation via Southfront.press:
?itok=EVBx3oH4
Turkey has carried out multiple airstrikes against Tishreen Dam and targeted the protesters rallying there. It https://anfenglishmobile.com/rojava-syria/turkey-carries-out-yet-another-air-strike-on-civilians-at-tishrin-dam-77816
on Thursday, injuring an unknown number of them.
https://cms.zerohedge.com/users/tyler-durden
Sat, 02/08/2025 - 07:00
https://www.zerohedge.com/military/turkey-mulling-permanent-military-bases-syria
How USAID And Its $50 Billion Budget Became A Target For Reform
How USAID And Its $50 Billion Budget Became A Target For Reform
(emphasis ours),
The U.S. Agency for International Development (USAID) was a little-noticed federal agency until it suddenly became the object of a fierce political battle over the limits of presidential power and the accountability of government bureaucracies.
?itok=ePfTG4yZ
When the Trump administration closed the agency’s offices on Feb. 3 and later placed most employees on administrative leave, USAID took https://www.theepochtimes.com/us/usaid-puts-all-direct-hire-personnel-on-administrative-leave-5804467
in a drama unfolding at both ends of Pennsylvania Avenue.
On one side is the Trump administration’s ongoing effort to make all parts of the executive branch comply with the president’s agenda. On the other side are congressional Democrats, who are warning that the action is a dangerous abuse of executive power and are vowing to fight it.
Meanwhile, many observers fear that USAID’s true purpose—to advance U.S. interests through the use of soft power—may be overlooked.
On Feb. 3, President Donald Trump appointed Secretary of State Marco Rubio as acting director of USAID. The next day, the president indicated that the agency may be shuttered and its functions permanently transferred to the State Department.
Here is why critics want to abolish or reform the agency, supporters want to save it, and what may happen next.
Influence as Power
USAID was established by an https://www.presidency.ucsb.edu/documents/executive-order-10973-administration-foreign-assistance-and-related-functions
of President John F. Kennedy in 1961 to advance U.S. foreign policy by offering developing nations technical assistance, help with education and health care, and disaster relief.
The idea was that turning poor countries into stable world citizens would benefit U.S. citizens, too. A stable, prosperous nation makes a good ally, the theory went.
Champions of USAID continue to see it as both an essential tool for foreign policy and a tangible expression of the goodness and generosity of the U.S. people.
Most observers agree that the agency does some good. Relatively small by Washington’s standards, USAID employs about 10,000 people and controls an annual budget of about $50 billion.
In 2023, USAID poured $10.5 billion into humanitarian aid and $10.5 billion into health programs in countries around the world, https://crsreports.congress.gov/product/pdf/IF/IF10261
to the Congressional Research Service.
One program that is often touted as a shining success story is the U.S. President’s Emergency Plan for AIDS Relief, a USAID program that has provided more than $110 billion for controlling the spread of HIV/AIDS in more than 50 countries.
?itok=ynYJYTrk
“Most estimates are that somewhere in the vicinity of 27 million people are alive today because President Bush initiated and Congress supported that program,” Scott Pegg, acting director of the Global and International Studies program and chair of political science at Indiana University–Indianapolis, told The Epoch Times.
President Donald Trump said in remarks to reporters on Feb. 4 that “some of the money is well spent.”
Yet the agency’s halo dims on closer inspection. Critics tell the story of an agency gone rogue, wasting millions of taxpayer dollars on inane programs, refusing to answer basic questions from congressional committees, and actively undermining the foreign policy goals of the United States.
Lost Purpose
The White House on Feb. 3. produced a https://www.whitehouse.gov/uncategorized/2025/02/at-usaid-waste-and-abuse-runs-deep/
of projects funded by USAID that it characterized as examples of waste and abuse.
The projects include $1.5 million to “advance diversity equity and inclusion in Serbia’s workplaces and business communities,” another $47,000 for a “transgender opera” in Colombia, and $2.5 million for electric vehicles in Vietnam.
Rep. Wesley Hunt (R-Texas) https://x.com/WesleyHuntTX/status/1886497471813353594
further examples on social media platform X on Feb. 3, including $56 million to boost tourism in Egypt and Tunisia and $27 million for “reintegration gift bags” for deported Central Americans.
Hunt said the agency was behaving “like a child with YOUR credit card.”
Some USAID grant recipients include terrorist-controlled organizations, according to a https://www.meforum.org/fwi/fwi-research/terror-finance-at-the-state-department-and-usaid
by the Middle East Forum released on Feb. 1.
The study found that $122 million has gone to groups aligned with designated terrorist organizations, including millions of dollars for organizations directly controlled by the Hamas terrorist group.
from the U.S. Office of Inspector General noted deficiencies and vulnerabilities in USAID’s vetting process, which is supposed to prevent the diversion of U.S. funds to terrorist organizations.
In one case of apparent abuse, USAID partnered with Chemonics, an international consulting firm, to spend $9.5 billion to improve health supply chains. Chemonics allegedly overbilled the agency by up to $270 million and failed to meet its objectives, and the project led to 31 indictments for the illegal resale of USAID-funded materials, according to Sen. Joni Ernst (R-Iowa), who has called for an independent analysis of USAID grant recipients.
?itok=4D_L0zF9
Ernst said USAID also https://x.com/SenJoniErnst/status/1886530928379617675
nearly $1 million in funding to China’s Wuhan Institute of Virology, which the CIA has said was the most likely source of the virus that causes COVID-19.
USAID has resisted congressional oversight for decades, some lawmakers say, resulting in a culture of defiance.
“The agency has engaged in a demonstrated pattern of obstructionism,” Ernst wrote in a https://www.documentcloud.org/documents/25513732-2025-2-4-senator-ernst-letter-to-secretary-rubio/
to Rubio on Feb. 4.
False claims were made that certain documents were classified to delay review by congressional staffers and to mislead Congress on the indirect cost of programs, Ernst wrote, adding that in some cases, this amounted to more than 25 percent of the grant total.
The agency refused to provide data on administrative costs, Ernst said. The agency later said that providing the data to Congress would violate federal law and that it had no obligation to respond because Ernst did not present a formal request from a “committee of jurisdiction.”
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 23:25
https://www.zerohedge.com/political/how-usaid-and-its-50-billion-budget-became-target-reform
The Chinese Trust Their Institutions The Most, Japanese Not So Much...
The Chinese Trust Their Institutions The Most, Japanese Not So Much...
Now in its 25th edition, the 2025 Edelman Trust Barometer, a global survey on trust, reveals a world increasingly divided by grievance, institutional distrust, and a zero-sum mindset.
This graphic,https://www.visualcapitalist.com/ranked-how-much-people-trust-institutions-by-country/
by country, and their change from 2024.
?itok=Y_o0ksc3
The Trust Index is the average percent trust in NGOs, businesses, government, and media based on a survey of over 33,000 respondents from 28 different countries conducted by Edelman Trust Institute.
Which Countries Trust Gov’t, NGOs, and Business the Most?
Below, we show each of the 28 countries’ Trust Index score for 2025 and their change from 2024.
Country
Election/change in government leadership in past year
Trust Index 2025
Change in percentage points from 2024
🇨🇳 China
N
77
-2
🇮🇩 Indonesia
Y
76
3
🇮🇳 India
Y
75
0
🇦🇪 United Arab Emirates
N
72
-2
🇸🇦 Saudi Arabia
N
71
-1
🇹🇭 Thailand
Y
66
-4
🇲🇾 Malaysia
N
66
-2
🇸🇬 Singapore
N
65
-1
🇳🇬 Nigeria
N
65
4
🇰🇪 Kenya
N
63
-1
🇲🇽 Mexico
Y
57
-2
🇳🇱 Netherlands
Y
57
1
🇿🇦 South Africa
Y
53
4
🇨🇦 Canada
N
52
-1
🇧🇷 Brazil
N
51
-2
🇮🇹 Italy
N
50
0
🇸🇪 Sweden
N
50
1
🇦🇺 Australia
N
49
-2
🇨🇴 Colombia
N
49
2
🇦🇷 Argentina
Y
48
9
🇫🇷 France
Y
48
1
🇮🇪 Ireland
N
48
1
🇺🇸 U.S.
Y
47
1
🇪🇸 Spain
N
44
-2
🇬🇧 UK
Y
43
4
🇩🇪 Germany
Y
41
-4
🇰🇷 South Korea
Y
41
-2
🇯🇵 Japan
Y
37
-2
The global average saw https://www.visualcapitalist.com/how-much-do-different-countries-trust-institutions/
, remaining steady at 56. However, a slight majority (54%) of the countries saw a drop in their trust index compared to last year.
Among the world’s 10 largest economies, five rank among the least trusting nations on the Trust Index: Japan (the lowest at 37), Germany (41), the UK (43), the U.S. (47), and France (48).
Argentina saw the largest increase in trust from 2024 at +9, following the election of https://www.ap.org/news-highlights/spotlights/2024/argentinas-milei-marks-one-year-in-office-heres-how-his-shock-measures-are-reshaping-the-economy/
, who campaigned on radical economic reforms amid the country’s ongoing financial crisis.
Only 4 of the 13 countries that had a national election or leadership change in the past year saw an increase in trust (Indonesia, Nigeria, South Africa, and Argentina)
The Edelman Trust Barometer also found that 61% of respondents had a moderate or high sense of grievance, which is defined by a belief that government and business make their lives harder and serve narrow interests, and wealthy people benefit unfairly from the system.
The survey highlights a rising willingness to justify extreme actions, such as violence and disinformation, as economic fears, deepening grievance, and institutional distrust continue to escalate.
To learn about global trust in various institutions, check out this https://www.voronoiapp.com/public-opinion/Which-Countries-Trust-and-Distrust-the-UN-573
that visualizes the level of trust the public in 28 countries have in the United Nations.
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Fri, 02/07/2025 - 23:00
https://www.zerohedge.com/political/chinese-trust-their-institutions-most-japanese-not-so-much
Tesla Sales Tumble 11.5% In China Due To Increased Domestic Competition, Market Saturation
Tesla Sales Tumble 11.5% In China Due To Increased Domestic Competition, Market Saturation
Tesla sales in China fell -11.5% for the month of January, mainly due to increased saturation and competition in the Chinese market.
Tesla sold 63,238 vehicles in January, an 11.5% drop from last year, pushing its shares down 1.5% in premarket trading. In contrast, Chinese rival BYD saw a 47% year-over-year jump, selling 296,446 EVs and hybrids, according to https://www.cnbc.com/2025/02/07/tesla-car-sales-in-china-fall-11point5percent-as-competition-intensifies.html
.
Chinese rivals like Changan Automobile and Xpeng reported sales growth, while Tesla has relied on price cuts and incentives to stay competitive.
said that the company slashed Model Y prices, extended a zero-interest five-year loan plan through January, and launched a revamped Model Y in China with 0% financing. Tesla hasn’t introduced a new model since the late-2023 Cybertruck, starting at nearly $80,000, leaving investors eager for a new mass-market vehicle, which may debut in early 2025.
?itok=jl_HN9Ab
Blog https://electrek.co/2025/02/07/tesla-sales-hold-ok-in-china-amid-model-y-changeover/
, which has been critical of Tesla over the last year or so, called the sales "relatively fine despite the added complexity of managing the production switch to the new Model Y".
They noted that the Model Y, Tesla’s top seller, is undergoing a design refresh at its Shanghai Gigafactory, leading to lower production this quarter.
While sales have dipped, the decline isn’t drastic given the changeover, the blog said. A bigger impact is expected in February due to Chinese New Year and planned production halts from January 22 to February 14, which will reduce inventory through March.
They admitted that politics likely didn't play as big of a role in the sales dropoff as many thought: "The new Model Y is having an impact everywhere, but Elon Musk’s meddling in politics and subsequent drop in reputation also has an effect, except in China, where they don’t care about that as much."
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 13:40
The Hunt Continues: Zelensky Extends Forced Conscription & Martial Law Again
The Hunt Continues: Zelensky Extends Forced Conscription & Martial Law Again
Ukraine has long stopped being a democracy and Ukrainian President Volodymyr Zelensky just made sure to keep it that way for another 90 days by signing a decree to extend martial law and continue general mobilization effort.
?itok=y-PkcyHq
The measures in force so far were due to expire on Feb. 7. Parliament voted to extend the provisions on Jan. 15. Ukraine was supposed to have a new vote long ago, but due to the war, Zelensky argued that it was not possible.
Ukraine declared a nationwide state of general mobilization on Feb. 24, 2022, and has since extended it several times. Due to staffing problems in the army, a bill on tightening mobilization rules came into force on May 18, 2024.
Martial law and conscription come despite the majority of Ukrainians saying they want to end the war and are willing to accept territorial losses in order to do so, according to the independent Gallup Polling agency.
A majority of Ukrainians now want an immediate end to the war, according to Gallup Research.
Hungary is now calling for Europe to respect the will of the people.
"The European pro-war mainstream does not want to see that the people have made a decision They do not want war." https://t.co/Xf43tqgUbV
— Remix News & Views (@RMXnews) https://twitter.com/RMXnews/status/1859573155909517464?ref_src=twsrc%5Etfw
In recent months, mobilization efforts have increasingly involved the use of violence and forced conscription, leading men to attempt to leave the country, often at the risk of their lives.
Zelensky, who fears losing power if the war ends, has an incentive to keep the conflict going. However, support for Zelensky has rapidly declined among the Ukrainian population.
Almost every week, reports are coming in about forced conscription in Ukraine being carried out using increasingly brutal means. Hungarian channel M1-Hirado recently ran a special compiling some of the latest footage of Ukrainians being beaten and shoved into vans in forced mobilization operations.
As Remix News https://rmx.news/article/mass-desertions-from-ukrainian-army-critical-problem-on-the-frontlines/
, desertion rates at the frontline are high, with many Ukrainians fleeing before they ever even enter combat.
To make up for shortfalls, authorities from the so-called Territorial Recruitment and Social Support Center (TCK) are using increasingly aggressive methods to meet monthly draft quotas.
After morning briefings, officers split into teams and search various locations around the city – cafes, restaurants, and even nightclubs – for men eligible for military service.
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Fri, 02/07/2025 - 13:20
Auto Stocks On Watch After Report That EU Considering Reducing Tariffs On U.S. Imports
Auto Stocks On Watch After Report That EU Considering Reducing Tariffs On U.S. Imports
Auto stocks jumped mid day on Friday after the https://www.ft.com/content/bed348ee-3e05-47f6-8a83-563286b8b99e
that the EU is prepared to reduce its 10% tariff on US car imports to align more closely with the USA’s 2.5% rate in a bid to prevent a trade war with Donald Trump.
Names like Ford and GM both saw a bump during afternoon trading, and before paring gains slightly heading into the last few hours of trading for the week.
https://www.ft.com/content/bed348ee-3e05-47f6-8a83-563286b8b99e
Bernd Lange, chair of the European Parliament’s trade committee. As part of the deal, the EU would also increase purchases of American liquefied natural gas and military equipment.
The move aims to ease tensions over the EU’s trade surplus with the US, a frequent target of Trump.
During Trump’s first term, Brussels lowered tariffs on lobsters and boosted imports of US LNG and soybeans, which helped contain disputes largely to steel and aluminum.
The FT https://www.ft.com/content/bed348ee-3e05-47f6-8a83-563286b8b99e
says that while the tariff reduction would apply to all WTO members, including China, EU officials believe Chinese imports won’t spike due to existing tariffs of up to 35% on Beijing-subsidized electric vehicles.
?itok=7Qyxe4pN
Major automakers like BMW and Mercedes support the plan, and Germany is not expected to oppose it.
In 2022, the EU exported 738,436 vehicles to the US, importing only 271,476 vehicles in return.
Lange warned that if negotiations falter, the EU could retaliate with its new anti-coercion instrument (ACI), designed to counter economic pressure tactics.
“Sometimes it’s important to have a gun on the table,” he is quoted as saying.
The ACI could target US tech giants like Meta, Google, and X through measures such as suspending IP rights and imposing digital service duties. Deploying the ACI would take about six months, but Lange noted the EU’s economic clout exceeds that of previous US trade targets like Canada and Mexico, positioning it to defend its interests effectively.
The development is the latest in a decisive series of changes President Trump has implemented or affected, including further securing the border with Mexico and Canada, in less than a month of being in office.
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 13:00
Zapped: Department Of Transportation Halts Funding For Electric Vehicle Charging Infrastructure
Zapped: Department Of Transportation Halts Funding For Electric Vehicle Charging Infrastructure
(emphasis ours),
A federal program that granted funds to states to build a national electric vehicle (EV) charging infrastructure has been stopped, according to the Federal Highway Administration (FHWA).
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The National Electric Vehicle Infrastructure (NEVI) Formula Program https://www.energy.ca.gov/programs-and-topics/programs/national-electric-vehicle-infrastructure-nevi-formula-program
, part of the 2021 Infrastructure Investment and Jobs Act, was a key part of the Biden administration’s push toward net-zero emissions by 2050. Biden had set a goal of having at least 500,000 publicly available EV chargers in the country by the end of this decade.
The FHWA, an agency under the U.S. Department of Transportation (DOT), is suspending the commitment of funds under the NEVI program, the agency said in a Feb. 6 https://www.fhwa.dot.gov/environment/nevi/resources/state-plan-approval-suspension.pdf
sent to directors of state departments of transportation.
The NEVI program mandates states to submit plans detailing how they intend to use the funds. The DOT secretary is required to approve each state’s plan before committing NEVI program funds.
In the letter, FHWA said that all current and prior guidance related to the NEVI program is rescinded.
No funds from the NEVI program will be committed unless fresh guidance is issued and new state plans are submitted and approved. Funds that have already been committed to various projects won’t be affected.
According to FHWA https://www.fhwa.dot.gov/infrastructure-investment-and-jobs-act/evs_5year_nevi_funding_by_state.cfm
, an estimated $4.15 billion in funds were allocated to several states under the NEVI program between fiscal years 2022 and 2026, out of which $1.77 billion is estimated for fiscal years 2025 and 2026.
FHWA said the decision was taken to align with current DOT policies, including a Jan. 29 agency https://www.transportation.gov/sites/dot.gov/files/2025-02/DOT_2100.7-Ensuring_Reliance_Upon_Sound_Economic_Analysis_in_DOT_Policies.pdf
requiring that DOT policymaking be based on “sound economic principles and analysis supported by rigorous cost-benefit requirements and data-driven decisions.”
Trump’s EV Impact
President Donald Trump issued an https://www.whitehouse.gov/presidential-actions/2025/01/unleashing-american-energy/
on Jan. 20 asking agencies to “immediately pause” all funds appropriated via the Infrastructure Investment and Jobs Act.
This includes “funds for electric vehicle charging stations made available through the National Electric Vehicle Infrastructure Formula Program.”
According to a Jan. 23 https://www.nrdc.org/bio/beth-hammon/trumps-plan-claw-back-ev-charging-funds-its-not-simple
by environmental advocacy Natural Resources Defense Council, Trump’s plan to claw back EV charging funds won’t be “that simple.”
“Every state has already engaged with the NEVI program, and the foundation for a nationwide charging network is underway,” the group said. “The legal and practical safeguards built into these programs ensure that they will continue to deliver results, despite political headwinds.”
Trump’s executive order not only impacts the federal charging infrastructure support but also threatens federal incentives handed out for EVs.
Trump’s order calls for eliminating the EV mandate, including “considering the elimination of unfair subsidies and other ill-conceived government-imposed market distortions that favor EVs over other technologies.”
At present, Americans who buy a new qualified plug-in EV or fuel cell electric vehicle are eligible for up to $7,500 in https://www.irs.gov/credits-deductions/credits-for-new-clean-vehicles-purchased-in-2023-or-after
.
To be eligible, an individual’s modified adjusted gross income should not exceed $150,000, with the limit rising to $225,000 for heads of households and $300,000 for married couples filing jointly. The vehicle also needs to fulfill certain criteria, such as having a battery capacity of at least seven kilowatt hours and being assembled in North America in the final stages.
The new EV policies come as American interest in electric vehicles appears to be waning.
A September 2024 https://www.ey.com/en_us/newsroom/2024/09/us-consumers-less-likely-to-purchase-an-ev-than-last-year
from IT consulting company EY showed that only 34 percent of Americans planned on buying an EV as their next car. This is down 14 percent from the 48 percent in the 2023 EY survey.
“Despite a focus on infrastructure and EV education, consumers cite expensive battery replacement (26%) and concerns about public chargers (25%) as major deterrents to buying an EV,” the survey said.
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 12:25
What's Keeping Corporate America Up At Night? Three Themes From Earnings Calls
What's Keeping Corporate America Up At Night? Three Themes From Earnings Calls
Goldman Sachs analysts highlighted three key themes emerging from this earnings season that are top of mind for corporate America: the impact of tariffs and an escalating trade war, the strength of the US dollar under the Trump administration, and the developments in artificial intelligence on their businesses.
Analysts led by David Kostin identified the first major issue facing company management teams this earnings season was the growing uncertainty surrounding President Trump's trade war and the risks of tit-for-tat tariffs with China.
"Tariffs were top of mind during this quarter's earnings calls as companies were focused on their plans to accommodate potential policy changes under the new administration," Kostin wrote, adding those companies already discussed "a wide range of plans related to tariffs," such as "pre-ordering items to get ahead of the tariffs."
Trade war fears resulted in nearly half of all SP500 companies discussing tariffs during earnings calls. Tariff discussion is back to levels not seen since Trump's first term.
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US stocks with elevated overseas exposure have faced downward pressure.
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The second concern with corporate America, according to the analysts, is a strong dollar:
Companies grappled with a stronger US dollar during 4Q, as the trade-weighted US dollar strengthened by 6% during the quarter. The combination of strong US economic growth, solid US asset returns, and the threat of tariffs have supported dollar strength in the later part of 2024 and the beginning of this year (Exhibit 3).
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A stronger dollar weighs on the non-US sales of companies, acting as a headwind to overall sales and earnings estimates. Alongside recent US dollar strength, the share of S&P 500 companies mentioning FX has risen across 4Q earnings calls (Exhibit 4). Recent management commentary noted the negative impacts of the stronger US dollar on sales results (TEL, PCAR, AZO) and some companies expect FX headwinds to persist (AAPL, DECK, TDY). Our FX strategists forecast the trade-weighted dollar will appreciate by 3% over the next twelve months. We recently highlighted potential solutions for corporates to mitigate the headwinds from a stronger USD including FX hedging and reporting results in constant currency.
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The last theme the analysts found that continued to dominate earnings calls was enthusiasm over AI:
Managements continued to express enthusiasm over AI on 4Q earnings calls, with some noting that AI has led to improvements in efficiency internally and for their customer base (C, T, SLB, UNH). The share of companies mentioning AI during this quarter's earnings calls reached a new high at 50%. After last Monday's news about DeepSeek, commentary from mega-cap tech companies (GOOGL, MSFT, META) highlighted the potential benefits of recent developments in AI.
The AI trade has continued to broaden, particularly to companies with the potential to monetize AI and boost their earnings from widespread AI adoption. Since the start of Q4 earnings season, our basket of Phase 2 AI infrastructure stocks (GSCBAIP2) have outperformed the equal-weight S&P 500 by 2 pp, whereas stocks with AI enabled revenues (GSCBAIP3) have outperformed the equal-weight S&P 500 by 6 pp. Phase 3 companies (e.g. ACN, ADBE, META) are starting to capitalize off their AI investments, deploying tools internally and into their products, allowing employees and customers to benefit.
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To recap, the three big themes that the analyst found during this earnings season were tariffs, strong dollar, and AI.
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We suspect these themes will dominate well into the second half of the year.
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 10:45
https://www.zerohedge.com/markets/whats-keeping-corporate-america-night-three-themes-earnings-calls
Democrats Send UMich Inflation Expectations Exploding Higher In Feb
Democrats Send UMich Inflation Expectations Exploding Higher In Feb
With Democrats driving inflation expectations (dramatically) higher in January, all eyes will be on this morning's UMich preliminary data for February... and right they were as 1-year inflation expectations ramped up to 4.3% (from 3.3% vs 3.3% expected). Additionally, the medium-term inflation expectation jumped up to 3.3% - its highest since June 2008...
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Source: Bloomberg
Most notably, the surge in inflation expectations was due entirely to Democrats (we guess they've been reading Politico's 'tariff tax' fearmongering too much?)...
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Source: Bloomberg
Overall, sentiment slumped in February, from 71.1 to 67.8, greatly disappointing the expectation of a rise to 71.8 with both current conditions and expectations sliding...
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Source: Bloomberg
Finally, the slump in broad sentiment seems driven by partisan politics of course with Democrats' now at their least confident since Aug 2020...
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Source: Bloomberg
All five index components deteriorated this month, led by a 12% slide in buying conditions for durables, in part, according to Survey Director Joanne Hsu, due to a perception that it may be too late to avoid the negative impact of tariff policy.
Expectations for personal finances sank about 6% from last month, again seen across all political affiliations, reaching its lowest value since October 2023.
Many consumers appear worried that high inflation will return within the next year.
Perhaps some Democrats should read what https://www.zerohedge.com/markets/what-happens-next-trade-war-goldmans-deep-dive-trumps-tariffs
...
Goldman's rule of thumb is that every 1% increase in the effective tariff rate raises the core PCE price level by 0.1%, the bank now estimates that tariffs will provide a one-time boost to year-on-year core PCE inflation of 0.5% (vs. 0.3% previously), leaving it at 2.6% in December.
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Interviews for this release concluded on February 4... so before Mexico and Canada had folded and Trump delayed tariffs.
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 10:11
Forecasting Error Puts Fed On Wrong Side Again
Forecasting Error Puts Fed On Wrong Side Again
https://realinvestmentadvice.com/resources/blog/forecasting-error-puts-fed-on-wrong-side-again/
The Federal Reserve’s record of forecasting has frequently led it to respond too late to changes in economic and financial conditions. In the most recent FOMC meeting, the Federal Reserve changed its statement to support a pause in the current interest rate-cutting cycle. As noted by Forbes:
“The policy-setting Federal Open Market Committee agreed unanimously to hold the target federal funds rate at 4.25% to 4.5%, the U.S. central bank announced Wednesday afternoon following the conclusion of the FOMC’s two-day meeting. The pause breaks a three-meeting streak of cuts dating back to September, when the Fed rolled out its first rate cut since March 2020.
The FOMC announcement noted unemployment “has stabilized at a low level” and “inflation remains somewhat elevated,” notably removing a reference from its prior rates decision of inflation making “progress” toward the 2% target.”
As a reminder, the Federal Reserve has two official mandates: full employment and price stability. The Fed specifically addressed those two mandates in its announcement to pause rate cuts at the last meeting. Furthermore, those two mandates are crucial to economic stability and, ultimately, the financial system. Full employment and stable inflation should support stronger levels of economic activity, providing stability to the financial system through increased credit use with lower default rates.
However, the Fed’s record of forecasting future economic growth rates is abysmal. The table below tracks the average of the Fed’s economic forecast range from 2011 vs actual GDP. The obvious problem is that the risk of policy response errors increases when future growth estimates range far from reality (typically during crisis events).
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Unexpected Factors
The obvious problem for the Federal Reserve is that forecasting is always problematic due to unexpected events that can disrupt consumer activity. This is particularly the case today, more than in the past, given that consumption is nearly 70% of the U.S. economy. However, it is notable that since 2000, while household debt continues to increase dramatically, it is no longer fueling increases in economic activity. In other words, households are consuming more debt to sustain their standard of living rather than increasing it, as seen from 1980 to 2000.
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This is a crucial point. The Fed depends on consumer confidence to drive economic activity, which it hopes to achieve through higher asset prices. However, despite higher asset prices, the bottom 90% of the economy struggles to increase consumption as their share of “economic wealth” has not materially increased. Such was a point we made in https://realinvestmentadvice.com/resources/blog/bullish-exuberance-returns-as-trump-takes-office/
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This is why nominal economic growth continues to return toward its long-term 2% growth trend, which will likely fall below that level over the next few years. Given that debt diverts productive dollars into debt service, such deters stronger economic outcomes across income classes.
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Given that economic growth is a function of economic production and consumption, the inability to expand economic prosperity suggests the Fed’s current forecasts are likely once again overstated. Such is particularly the case with their views on the strength of employment.
Forecasting Errors Lead To Policy Errors
The critical component to expanding economic growth is employment. As we explained in https://realinvestmentadvice.com/resources/blog/labor-market-impact-on-the-stock-market/
“While [recent] headline figures seemed decent, the underlying data reveals clear warning signs that worker demand is slowing. Investors should pay attention because the link between employment and its impact on the economy and the market is undeniable. While often overlooked, as we will discuss, there is an undeniable link between economic activity and corporate earnings. Employment is the driver of a consumption-based economy. Consumers must produce first before consuming, so employment is critical to corporate earnings and market valuations.“
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The production cycle is crucial to both economic and inflation expectations. Without a strong employment market, increasing organic economic activity is challenged. While increases in Government spending can temporarily offset weakness in consumption, the sustainability of that support is challenged as it requires increasing levels of debt to generate the same level of economic activity in the future, as shown above.
Given that employment is the lynchpin of economic growth, the Fed’s current assessment of the labor market’s strength is a significant risk in its forecasting accuracy. Following the most recent FOMC meeting analysts were quick to jump on “employment strength” as the reason to delay further rate cuts.
“This is a new phase of the Fed’s easing cycle, given the strong growth and resilient labor market data providing scope for a more patient approach amid elevated data and policy uncertainty. The Fed’s easing cycle has not yet run its course, but the FOMC will want to see further progress in the inflation data to deliver the next rate cut highlighted by the fact they removed the reference on inflation making progress.” – Lindsay Rosner, Goldman Sachs
However, as the history of Fed rate-cutting cycles shows, the Fed often “reacts“ to economic events that undermined their previous assessments of lagging economic data. In other words, the Fed is almost always “too late” in enacting policy changes.
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The Real “Employment” Situation
This will likely happen again, as the Fed’s assessment of the labor market’s strength is likely overly optimistic.
“We think the Fed is going to end up being on the wrong side of the forecast. Job gains are far less ‘strong’ than has been characterized in this statement. All these job gains are in part-time employment and hiring rates have absolutely plummeted. The backlog of continuing claims has been on a discernible upward path and the consumer surveys have revealed a substantial loss in labor market confidence.” – David Rosenberg, Rosenberg Research
He is correct. The chart below shows the cumulative change to full-time and part-time labor over the last few years.
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As noted above, employment is required to create consumption and increase economic activity. Crucially, “full-time” employment is required to create stronger economic growth rates, providing higher incomes, benefits, and household stability. Notably, peaks in full-time employment relative to the total number of employed civilians have correlated with weaker future economic outcomes and disinflationary impacts. (The only exception was 2020, as mass employment terminations created a temporary bump in full-time employment.)
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The data supports that last statement. Weaker full-time employment as a percentage of the current employment level correlates to weaker personal consumption expenditures. If the “demand” for goods and services declines, so does inflation.
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The current “lagging” economic data may support the Fed’s recent pause in rate cuts. However, its forecast of stable employment and inflation may be in error when future data revisions reveal a far weaker situation.
A Familiar Mistep By The Fed
The tendency to rely on past data increases the risk of policy errors. Such can have significant consequences for financial markets, economic growth, and consumer confidence. While current economic data may appear healthy, consumers do not necessarily agree. Such is shown by consumer expectations of incomes over the next year. As https://realinvestmentadvice.com/resources/blog/the-chart-that-should-worry-the-fed/
commented recently:
” While labor market data is generally good, there are signs the labor market is at a standstill. Continuing jobless claims are steadily rising at their highest level in over three years. The JOLTS hires rate is at ten-year lows. While the number of layoffs remains low, employers aren’t hiring either. Accordingly, the broad labor market data may seem good, but the chart below and other data should give the Fed pause so that consumers may start to spend less and save more. As if the chart below wasn’t concerning. It shows employment expectations are also plummeting. Similar changes in expectations have led to a higher unemployment rate previously.”
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The rise in part-time employment, slowing hiring rates, and increased continuing jobless claims indicate a weaker labor market. Historically, overestimating employment strength has led the Fed to delay necessary rate cuts. Once economic conditions deteriorate further, the Fed is forced to reverse course.
Another key issue for the Fed remains higher borrowing costs. As debt burdens rise and wage growth stagnates, consumers increasingly rely on credit to maintain their standard of living. The longer rates remain elevated, the more pressure is applied to disposable incomes. For the Fed, if consumer spending weakens, inflation will decline more sharply than the Fed anticipates. Such will pose risks to future financial and economic stability.
The implications of the Fed’s forecasting errors extend beyond employment and consumption. A delayed policy response can heighten market volatility, disrupt business investment decisions, and exacerbate economic downturns. As history has shown, the Fed often acts too late, reacting to economic deterioration rather than proactively preventing it. Given these risks, investors should remain cautious and prepared for potential shifts in monetary policy that could impact market trends.
Based on current data, the Fed’s decision to pause rate cuts may appear justified. However, future revisions may reveal a far weaker economic backdrop than anticipated. If past patterns persist, the central bank could adjust policies too late.
However, such remains the Fed’s ongoing challenge of accurately forecasting the future.
* * *
For more in-depth analysis and actionable investment strategies, visit https://realinvestmentadvice.com/
. Stay ahead of the markets with expert insights tailored to help you achieve your financial goals.
https://cms.zerohedge.com/users/tyler-durden
Fri, 02/07/2025 - 09:45
https://www.zerohedge.com/markets/forecasting-error-puts-fed-wrong-side-again