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[Politics] Coalition Warns Against Broadband Proposals Published:7/24/2021 8:07:56 PM
[Markets] Dow closes above 35,000 as stocks end week at record highs Dow closes above 35,000 as stocks end week at record highs Published:7/24/2021 8:07:56 PM
[Middle Column] ‘Welt’ newspaper Commentary: Germany Flood Catastrophe Made Possible By ‘Unimaginable Government Incompetence’ – ‘Unbelievable Scandal’
Published:7/24/2021 8:07:56 PM
[Critical Race Theory] Education Department Backs Off Promotion of Group Espousing Critical Race Theory

The Biden administration called it an “error” to promote a guide by a group espousing critical race theory in an Education Department handbook meant for... Read More

The post Education Department Backs Off Promotion of Group Espousing Critical Race Theory appeared first on The Daily Signal.

Published:7/24/2021 8:07:56 PM
[World] A Teacher’s Summer is No Cakewalk

All that free time is asking for summertime sadness, or for a laugh: the sorrows of Kurt Hofer.

The post A Teacher’s Summer is No Cakewalk appeared first on The American Conservative.

Published:7/24/2021 8:07:56 PM
[Politics] Woke Budgeting Emerges as More Than an Abject Failure Here we are on Friday night and let me say go woke, go broke. According to the Congressional Budget Office, through June, total federal debt in the hands of the public is $21.7 trillion. Total debt itself, which includes intergovernmental transfers (like Social Security trust funds), comes to $28.5 trillion. So, call it 100% of GDP. It's a nice round number and easy to remember. Under current law, the CBO estimates federal debt in public hands will be $35.8 trillion by 2031 in their 10-year... Published:7/24/2021 8:07:56 PM
[Politics] Fauci: 'There's no way' the coronavirus was made with U.S. research funds. Here's why

Sen. Rand Paul accused Dr. Anthony Fauci of funding research in China that created the coronavirus. Fauci says that's a lie and explains why.

Published:7/24/2021 8:07:56 PM
[2e36cb6f-1e1c-599f-89e7-06ef18b99cdc] Rev. Samuel Rodriguez: Hispanics, Latinos thriving – we are not marginalized, oppressed victims Hispanics and Latinos living in the United States are a diverse, thriving community. We are here to bless this nation, to help it fully realize its ideals of liberty and justice for all. Published:7/24/2021 8:07:56 PM
[Politics] ALERT: Lib Summer Havens Cape Cod, Martha’s Vineyard Are COVID-19 Hotspots

Cape Cod and Martha's Vineyard are the premier summer stomping grounds for obnoxious libs who enjoy feeling morally superior to their fellow Americans. According to science, however, they have also become COVID-19 hotspots as reckless libs flee to the beach in droves.

The post ALERT: Lib Summer Havens Cape Cod, Martha’s Vineyard Are COVID-19 Hotspots appeared first on Washington Free Beacon.

Published:7/24/2021 8:07:56 PM
[AAPL] Stocks To Watch: Apple And Tesla Lead Earnings Blitz, New IPOs And SPAC Debuts Published:7/24/2021 8:07:56 PM
[2021 News] POLITICS OANN Reporter Says Alito and Thomas Have Issued a “Public Warning” About ACB and Kavanaugh

OANN Reporter Says Alito and Thomas Have Issued a “Public Warning” About ACB and Kavanaugh. So basically they’re Justice John Roberts clones. Lord help us. SCOTUS Justices Alito & Thomas are already publicly warning conservatives that Barrett & Kavanaugh "lack fortitude" and are "unwilling to bear the criticism" that will come with making conservative decisions. […]

The post POLITICS OANN Reporter Says Alito and Thomas Have Issued a “Public Warning” About ACB and Kavanaugh appeared first on IHTM.

Published:7/24/2021 8:07:56 PM
[] The World Has Had It With China Flu Lockdowns: Protests Rock Cities All Over the Globe Published:7/24/2021 8:07:56 PM
[In The News] DeSantis Requests State Action Against Ben & Jerry’s

By Sebastian Hughes -

Florida Republican Gov. Ron DeSantis sent a letter to the State Board Administration on Thursday requesting action be taken against Ben & Jerry’s over their decision to boycott “Occupied Palestinian Territory,” Fox Business reported. The governor asked the brand and their parent company, Unilever, be placed on the “Continued Examination …

DeSantis Requests State Action Against Ben & Jerry’s is original content from Conservative Daily News - Where Americans go for news, current events and commentary they can trust - Conservative News Website for U.S. News, Political Cartoons and more.

Published:7/24/2021 8:07:56 PM
[] Chinese vaccines may be even worse than previously thought Published:7/24/2021 8:07:56 PM
[TC] The DL on CockroachDB As college students at Berkeley, Spencer Kimball and Peter Mattis created a successful open-source graphics program, GIMP, which got the attention of Google. The duo ultimately joined Google, and even personally got kudos from Sergey Brin and Larry Page. Kimball and Mattis quickly rose to prominence within the company, and then chose to leave it […] Published:7/24/2021 8:07:56 PM
[] Slate argues that Fox News is liable if Tucker Carlson's 'anti-vaccine commentary' causes people to die Published:7/24/2021 8:07:56 PM
[Open Threads] Bookworm Beat 7/24/21 — the biggest illustrated edition ever

It’s hard to believe but I have over 100 spectacularly clever, funny, or astute memes and cartoons in this illustrated edition. Wow!

The post Bookworm Beat 7/24/21 — the biggest illustrated edition ever appeared first on Bookworm Room.

Published:7/24/2021 8:07:56 PM
[World] Coronavirus vaccine wordplay: Defining 'effective' proves elusive

If the coronavirus vaccines are so effective — “highly effective,” as Anthony Fauci has claimed — then why do the vaccinated test positive so frequently for COVID?

“20% of COVID infections in June occurred among vaccinated, LA County health says,” City News Service reported just this week.

...
Published:7/24/2021 8:07:56 PM
[Parental Rights] [Eugene Volokh] COVID Closures of Private Schools May Have Been Unconstitutional So holds a Ninth Circuit panel (by a 2-1 vote), evaluating the California closure rules. Published:7/24/2021 8:07:56 PM
[fd41ecbf-96aa-538e-98fa-ef504a2fdcf8] Britney Spears posts topless photos on Instagram as conservatorship battle rages on Music superstar Britney Spears posted a topless photos on Instagram amid a tense family feud over control of her finances. Published:7/24/2021 8:07:56 PM
[Political correctness] Time to Convert to Soccer? (John Hinderaker) A lifelong baseball fan, I abandoned the game this year after MLB sided with the Democratic Party in its campaign against ballot integrity in Georgia. It wasn’t just that: my home town team has put a “Black Lives Matter” sign and a memorial to George Floyd in right field. If I can’t escape politics at a baseball game, I’d rather go somewhere else. For the first time in decades, I Published:7/24/2021 8:07:56 PM
[Markets] Dow Jones Futures: Stock Market Rally Back At Highs With Apple Earnings Due; Hold Or Sell Tesla Stock? The market rally is back at highs, but Apple and other tech titans are on tap. Hold or sell Tesla stock before earnings? Published:7/24/2021 8:07:56 PM
[Uncategorized] In “Blue” Rhode Island, Parents Are Seeing “Red” and Rising-Up Against Critical Race Theory

A grassroots revolt in the bluest of blue states against an entrenched "woke" educational bureaucracy and teachers unions is a sign how the movement is sweeping the nation.

The post In “Blue” Rhode Island, Parents Are Seeing “Red” and Rising-Up Against Critical Race Theory first appeared on Le·gal In·sur·rec·tion.
Published:7/24/2021 8:07:56 PM
[Entertainment] Ryan Dorsey Honors Naya Rivera With Emotional Tribute One Year After Her Death Ryan Dorsey, Naya RiveraNaya Rivera's life and legacy continue to live on. It's been exactly one year since the Glee actress devastatingly passed away after she went missing for several days while...
Published:7/24/2021 8:07:56 PM
[topics:people/boris-johnson] Crime victims to be assigned a designated police officer under Boris Johnson's new plan Published:7/24/2021 8:07:56 PM
[Politics] DISGUSTING: MSM & far left join forces to shame, mock Christian who just DIED, because he made a JOKE about VACCINE zMedia outlets and far left kooks like Raw Story and the Twitter mobs have joined forces (as if they aren’t really the same thing already anyway) to mock and shame a man . . . Published:7/24/2021 8:07:56 PM
[Markets] These Are The World's Highest-Paid Athletes These Are The World's Highest-Paid Athletes

In Giannis Antetokounmpo, newly-crowned NBA champion and finals MVP, another player may have dominated the sporting headlines this week, but Lebron James still made some waves beside the court. For one he’s currently starring in Space Jam 2, stepping into the enormous shoes of Michael Jordan, who appeared in the original Space Jam movie in 1996.

More importantly though, as Statista's Felix Richter notes, James made headlines on Thursday for becoming the first active NBA player to become a billionaire, a milestone that Jordan only surpassed after his playing career. According to Sportico, James surpassed $1 billion in career earnings from salaries and endorsement deals, putting him far ahead of Kevin Durant ($580 million) and Steph Curry ($430 million), the other two active players who could eventually join the billionaires club.

But, according to Forbes, James 'only' made a total of $97 million between May 1, 2020 and May 1, 2021, putting him fifth among the highest paid athletes.

Infographic: The World's Highest-Paid Athletes | Statista

You will find more infographics at Statista

But, as the chart above shows, Conor McGregor took the money crown last year, taking home a whopping $180 million, mainly thanks to his sale of whiskey brand 'Proper No. Twelve', and all that wealth cost him was a broken leg.

Tyler Durden Sat, 07/24/2021 - 21:00
Published:7/24/2021 8:07:56 PM
[] Saturday Evening Movie Thread 07-24-2021 [Hosted By: Moviegique] THE AFRICAN QUEEN The most depressing thing, for me, about seeing John Huston's classic film The African Queen was not coming out of the theater to see an add for Disney's Jungle Cruise, but watching the movie and recalling a... Published:7/24/2021 8:07:56 PM
[Comedy] @lolumOKUR u think things are bad now but one day rich white girls won’t be able to shut up about their semester on the moon Published:7/23/2021 3:09:43 PM
[World] Thanks for Reading
This blog is no longer being updated.

Thanks for reading, please enjoy the archives!
Published:7/23/2021 3:09:43 PM
[Economic Theory] Peru: the next experiment in Marxism-Leninism?

In the past 100 years, there have been attempts to build socialist societies in at least 24 countries around the world. Soviet socialism was different from the socialism in China, Yugoslavian socialism was different from socialism in Cuba, North Korea’s was different from Vietnam’s, and in Albania it was different from the GDR. Without exception, … Continue reading "Peru: the next experiment in Marxism-Leninism?"

The post Peru: the next experiment in Marxism-Leninism? appeared first on Institute of Economic Affairs.

Published:7/23/2021 3:09:43 PM
[World] When life gives Biden a Lemon

You know we are in trouble when CNN’s Don Lemon is the smart one.

This is an actual exchange between Mr. Lemon and President Joe Biden during a staged “town hall” Wednesday night in Cincinnati.

LEMON: “You said that you need — we need — more police, right? Your words. ... Published:7/23/2021 3:09:42 PM

[] Senate Dems: We want a new probe of Kavanaugh -- and the FBI Published:7/23/2021 3:09:42 PM
[Comedy] How Tig Notaro created a cartoon standup special about life, death and Dolly Parton Notaro's HBO special "Drawn" takes her live performances and puts them to animation. Published:7/23/2021 3:09:42 PM
[BTI] Altria Vs. British American Tobacco: Which Is The Better Dividend Play? Published:7/23/2021 3:09:42 PM
[Politics] Column: This California bill would protect our medical data from Big Tech (Hi, Amazon!)

Assemblyman Ed Chau (D-Arcadia) is trying to pass legislation that would require tech companies to get our permission before accessing health data.

Published:7/23/2021 3:09:42 PM
[Uncategorized] Unchecked Sacramento Power Finally Gets Pushback

In what we hope is a positive sign towards a recall victory, gubernatorial candidate Larry Elder won two lawsuits against the Secretary of State Shirley Weber, who had tried to keep him off the ballot due to “incomplete redacted and/or unredacted income tax returns were filed”. The judge ruled that this only applied to primary […]

The post Unchecked Sacramento Power Finally Gets Pushback appeared first on Flopping Aces.

Published:7/23/2021 3:09:42 PM
[World] America’s Class War Over Abortion

The credentialed elite take pride in the sacrifices, even human, they are willing to make for the sake of professional success.

The post America’s Class War Over Abortion appeared first on The American Conservative.

Published:7/23/2021 3:09:42 PM
[World] The Military Diet vs. My Pelican Pouch, Round One Published:7/23/2021 3:09:42 PM
[Markets] Will vaccinated Americans need masks again indoors? This is the tipping point Will vaccinated Americans need masks again indoors? This is the tipping point Published:7/23/2021 3:09:42 PM
[structure:news] Wales's new Ofsted chief was expelled for spiking his teachers with laxatives Published:7/23/2021 3:09:42 PM
[Politics] Washington DC Police Chief drops TRUTH BOMBS after last night’s shooting Last night two people were shot in Washington DC that sent commuters and diners running for safety. The men weren’t killed, but the gunshots rang out in a good section of town . . . Published:7/23/2021 3:09:42 PM
[2021 News] Department of Justice Refuses to Investigate Nursing Home Deaths in Blue States

Department of Justice Refuses to Investigate Nursing Home Deaths in Blue States. Yep, they might have to arrest blue state governors like Killer Cuomo. Yet more proof the DOJ is in the tank for the Democrats.

The post Department of Justice Refuses to Investigate Nursing Home Deaths in Blue States appeared first on IHTM.

Published:7/23/2021 3:09:42 PM
[Politics] States Get a Win in Lawsuit Over Blue State Bailout’s “No Tax Cut” Mandate Published:7/23/2021 3:09:42 PM
[Uncategorized] D.C. Police Chief: ‘You Cannot Coddle Violent Criminals’

The chief said DC has too many guns. Um, guns are not the problem. Criminals are the problem.

The post D.C. Police Chief: ‘You Cannot Coddle Violent Criminals’ first appeared on Le·gal In·sur·rec·tion.
Published:7/23/2021 3:09:42 PM
[Satire] QUID PRO CONE: The Biden Ice Cream Scandal No One’s Talking About

President Joe Biden's obsession with ice cream, and the professional media's childlike fascination with that obsession, is a little weird. But there's nothing sinister about it. Or is there?

The post QUID PRO CONE: The Biden Ice Cream Scandal No One’s Talking About appeared first on Washington Free Beacon.

Published:7/23/2021 3:09:42 PM
[Markets] Dow Jones Up 195 Points, in Record Territory Despite Intel Worries Shares of semiconductor giant Intel fell sharply after the company reported earnings, but a better report from American Express and a positive day for most stocks has the index set to close at record levels. Published:7/23/2021 3:09:41 PM
[Entertainment] Empty seats, muddled messaging and a botched ‘Imagine’ make for a lackluster Olympic Opening Ceremonies At least the Tokyo Olympics Opening Ceremony had Naomi Osaka. Published:7/23/2021 3:09:41 PM
[Climate] Another Climate Alarm Loses Its Mojo (Steven Hayward) We all know the Great Barrier Reef is in danger of disappearing because of c—— c—–. The climatistas tell us so, at every opportunity: Well guess what Mom? Check in with The Australian (behind a paywall so here is the relevant text—made available by the indispensable Global Warming Policy Foundation): The annual data on coral cover for the Great Barrier Reef, produced by the Australian Institute of Marine Science, was Published:7/23/2021 3:09:41 PM
[World] [John Ross] Short Circuit: A Roundup of Recent Federal Court Decisions Innovative orthodontics, cumulative explosions, and voting by proxy. Published:7/23/2021 3:09:41 PM
[bdf95609-4d9f-5db5-aab7-ace8eefefafa] Mark Hamill teases how he's been in every 'Star Wars' movie since 2015 The actor also made a cameo in the Disney+ series "The Mandalorian." Published:7/23/2021 3:09:41 PM
[Entertainment] Kanye West Sings About "Losing My Family" in Impassioned DONDA Song Kim Kardashian, Kanye West, 2020 Vanity Fair Oscar PartyKanye West's new music is telling fans something about his marriage to Kim Kardashian. The 44-year-old "Can't Tell Me Nothing" rapper's latest album, DONDA, was first...
Published:7/23/2021 3:09:41 PM
[In The News] Senate Democrats Attempt To Add Funding For Dreamers, Border Security To Budget Bill

By Kaylee Greenlee -

Senate Democrats are attempting to add funding for “Dreamers” and border security to their budget bill, Axios reported Friday. The Democrats are looking at adding $10 billion to their $3.5 trillion budget reconciliation package towards border security infrastructure at legal points of entry, according to Axios. The Democrats previously planned …

Senate Democrats Attempt To Add Funding For Dreamers, Border Security To Budget Bill is original content from Conservative Daily News - Where Americans go for news, current events and commentary they can trust - Conservative News Website for U.S. News, Political Cartoons and more.

Published:7/23/2021 3:09:41 PM
[World] ATR Partners on International Tax Burden Index, USA Ranks Second-Best Published:7/23/2021 3:09:41 PM
[Automotive] Rivian raises another $2.5B, pushing its EV war chest up to $10.5B Rivian announced Friday that it has closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc. Third Point, Fidelity Management and Research Company, Dragoneer Investment Group, and Coatue also participated in the round, according to Rivian. […] Published:7/23/2021 3:09:41 PM
[Critical Race Theory] Can National Solidarity Solve Our Race Problems?

On Oct. 16, 1901, President Theodore Roosevelt invited Booker T. Washington to dine at the White House. As Edmund Morris relates in “Theodore Rex,” many... Read More

The post Can National Solidarity Solve Our Race Problems? appeared first on The Daily Signal.

Published:7/23/2021 3:09:41 PM
[ede74800-1b79-5bfd-a53b-0432cf0d57cf] Joe Concha rips 'Big Guy' Joe Biden for downplaying inflation fears on 'sham' network CNN's town hall The Fox News contributor knocks President Biden's comments on inflation at CNN's town hall as small businesses sound the alarm that a surge of federal stimulus into citizens pockets is hampering their ability to fill jobs. Published:7/23/2021 3:09:41 PM
[Markets] Stocks Surge After Monday Mayhem; Bonds, Bullion, Bitcoin, & Black Gold Flat Stocks Surge After Monday Mayhem; Bonds, Bullion, Bitcoin, & Black Gold Flat

After an ugly Delta-driven growth scare plunge at the open on Monday, "Get Out & Party" stocks soared this week. The Nasdaq outperformed and Dow lagged on the week as Small Caps gave back their mid-week panic-buying (swinging from down over 2.5% to up over 3.5% to end the week up 2%)...

And the S&P is hitting all time highs because yeah fun-durr-mentals...

"Everything is awesome" though right?

The midweek surge in stocks was all short-squeeze-driven and the last day's push appears simple momentum and lack of gamma pushing back...

Source: Bloomberg

After Monday's monkeyhammering, Energy stocks made it back to unch on the week, Tech and Discretionary outperformed...

Source: Bloomberg

Cyclicals outperformed Defensives on the week but both ended higher (NOTE today's gains were dominated by Defensives)..

Source: Bloomberg

Cryptos followed a similar path, tumbling into lows on Monday night before rallying back as Ethereum handily outperformed, Bitcoin was around unchanged...

Source: Bloomberg

The dollar managed gains on the week (the 3rd weekly gain of the last 4) back to 3-month highs

Source: Bloomberg

The "weak dollar" narrative driving stocks higher has been conveniently disregarded...

Source: Bloomberg

Bonds were bid on Monday as the world briefly fell apart but sold back to unch on the week. 5Y yields actually fell around 5-6bps on the week...

Source: Bloomberg

10Y Yields tried and tried again to get above 1.30% and hold... they failed...

Source: Bloomberg

Copper rebounded strongly this week. Gold's modest drop on the week was its first in 5 weeks. Crude managed to barely end green (still pretty impressive after Monday's barf)...

Source: Bloomberg

Gold has decoupled from the drop in real yields for now...

Source: Bloomberg

Finally, don't tell anyone but the T-Bill market is starting to get spooked by the debt ceiling chatter...

Source: Bloomberg

Get back to work Mrs.Yellen.

Tyler Durden Fri, 07/23/2021 - 16:00
Published:7/23/2021 3:09:41 PM
[Markets] Realtor.com: You Can Rent Scottie Pippen’s Chicago-Area Home on Airbnb During the Olympics The legendary NBA star Scottie Pippen was a Hall of Famer on the court. His contributions alongside the superstar Michael Jordan were one of the highlights of last year’s fascinating documentary on their team, the Chicago Bulls, in the 1990s, “The Last Dance.”
Published:7/23/2021 3:09:41 PM
[] Gallup: Relations Between the Races At Lowest Point in Decades, For Some Unknowable Reason Via John Sexton at Hot Air, it's almost as if the race war declared and demanded by the leftwing propaganda media and their politician puppets has had some success in producing... the smoldering embers of a racial fire. Sexton writes... Published:7/23/2021 3:09:40 PM
[Syndicated News] President Joe Biden’s Schedule for Thursday, July 22, 2021

By R. Mitchell -

Summary: President Joe Biden will receive two briefings on Thursday, then he will make a speech and meet with union leaders to plan the messaging around his unpopular taxation and spending boondoggle. President Biden’s Itinerary for 7/22/21: All Times EDT 10:30 AM Receive daily briefing1:15 PM Receive briefing on Coronavirus2:15 …

President Joe Biden’s Schedule for Thursday, July 22, 2021 is original content from Conservative Daily News - Where Americans go for news, current events and commentary they can trust - Conservative News Website for U.S. News, Political Cartoons and more.

Published:7/22/2021 10:07:21 AM
[Security] ‘More and More Devastating’: Congresswoman Details Third Trip to Border

Rep. Lauren Boebert just returned from another fact-finding trip to the southern border. The Colorado Republican joins us today on “The Daily Signal Podcast” to... Read More

The post ‘More and More Devastating’: Congresswoman Details Third Trip to Border appeared first on The Daily Signal.

Published:7/22/2021 10:07:21 AM
[Democrats] George Soros Funnels $1M To Defund the Police as Violent Crime Surges

George Soros is funneling money to support defunding the police, a cause that cost Democrats politically in the 2020 election as violent crime spiked across the country.

The post George Soros Funnels $1M To Defund the Police as Violent Crime Surges appeared first on Washington Free Beacon.

Published:7/22/2021 10:07:21 AM
[] OMG-LOL: CNN's Donie O’Sullivan did his due diligence during Biden's Town Hall to report on QAnon and da da DAAAAA Published:7/22/2021 10:07:21 AM
[LAKE] Wall Street Breakfast: Mask Revival? Published:7/22/2021 10:07:21 AM
[Inflation] Animatronic short circuit (2) (Scott Johnson) President Biden appeared last night in a half-empty auditorium for a live CNN town hall in Ohio. CNN concealed the empty seats. Steven Nelson includes the photo below via Bloomberg News reporter Jennifer Epstein’s tweet in his New York Post story “Biden speaks to half-empty room at CNN town hall.” What the Biden CNN town hall looks like from the back of the auditorium: pic.twitter.com/juUehd7PDu — Jennifer Epstein (@jeneps) July Published:7/22/2021 10:07:21 AM
[Politics] Podcast: Hey, Pete Wilson decided to talk to us

Former California Gov. Pete Wilson discusses Proposition 187, "the right way" to immigrate and how our host's family should feel about him.

Published:7/22/2021 10:07:21 AM
[Politics] Sen. Mark Kelly's Support for PRO Act's "Overall Goals" Spells Doom for Arizona Workers Published:7/22/2021 10:07:21 AM
[World] America's schools are breeding grounds for socialists

Abolitionist Teaching Network, the organization that President Biden’s administration cited as part of its Department of Education recommendations for in-person instruction this fall, is so far left of left that it makes the Democratic Socialists of America — another group that’s infiltrated the public schools — seem moderate.

Welcome to ... Published:7/22/2021 10:07:21 AM

[00191e97-1b34-5ab3-9be9-ff8d1c60cb00] Dr. Marc Siegel: Biden's COVID vaccine message – now he gets that bullying is wrong. But is it too late? It is shocking to me, looking back seven months later, to see that half the country remains unvaccinated. Why haven't we been more successful? Published:7/22/2021 10:07:21 AM
[Left Column] Scientists Witness Chimps Killing Gorillas for the First Time Ever – The culprit? ‘Scientists are worried that climate change might have something to do with it’
Published:7/22/2021 10:07:21 AM
[Politics] [VIDEO] – Joe Biden says he’s pushing to ban certain 9mm HANDGUNS Last night Joe Biden held a town hall on our favorite misinformation network and actually claimed that he’s pushing to ban handguns that can shoot 20 or more rounds: They're not hiding . . . Published:7/22/2021 10:07:21 AM
[structure:news] Tommy Robinson ordered to pay £100,000 to Syrian refugee after losing libel case Published:7/22/2021 10:07:21 AM
[Markets] U.S. existing-home sales rebound from four months of declines U.S. existing-home sales rebound from four months of declines Published:7/22/2021 10:07:21 AM
[6c2aa9ec-80f2-5db1-8fcc-55ae8a072b2a] ‘American Pickers’ star Frank Fritz says he hasn’t spoken to Mike Wolfe in two years: ‘That’s just how it is’ "American Pickers," a popular reality TV series on the History Channel, first premiered in 2010. It followers the adventures of Mike Wolfe and Frank Fritz as they travel the country in search of treasure. Published:7/22/2021 10:07:21 AM
[Entertainment] See Meghan Trainor and Daryl Sabara's Son Riley Make Adorable TV Debut Meghan Trainor, InstagramMeghan Trainor and Daryl Sabara's son Riley is all about that spotlight! The couple introduced their 5-month-old baby boy to Today viewers on Thursday, July 22. And while the...
Published:7/22/2021 10:07:21 AM
[Markets] Morning Brief: Urgent listings are on the rise Myles Udland breaks down Thursday’s Morning Brief, which details Indeed’s new report about how the continued pressures of the labor shortage are leading to employers expressing an ‘urgent' need to hire employees to feel vacant positions as job postings increase. Published:7/22/2021 10:07:21 AM
[Events] Silicon Valley comms expert Caryn Marooney shares how to nail the narrative "You may think that the message is boring because you've said it once. But repetition never spoils the prayer." Published:7/22/2021 10:07:21 AM
[Markets] Jobless Claims Are Plunging In Republican States, Flat In Democrat States Jobless Claims Are Plunging In Republican States, Flat In Democrat States

Two months ago, when we observed that with 23 - all republican - states announcing at least some form of early reduction in pandemic-related unemployment insurance benefits ahead of the September expiration at the federal level...

... in hopes of unclogging labor supply and easing the unprecedented labor shortage gripping America which has manifested in record numbers of job openings which nobody wants due to Uncle Sam's generous weekly benefits...

...  we said that "since Democrats will likely not end UI benefits any time soon - or ever, if they could -  this sets up the US economy to become an epic real-time economic experiment, one where everyone can keep track of the unemployment across in Red states (most of which have ended their UI benefits), and blue states where claims will keep potential workers at home, pressuring unemployment rates."

Well, one month ago the early verdict was in and as Morgan Stanley found at the end of June, not only were Republican states right all along to end benefits early, but that the primary - and biggest - reason for the unprecedented shortage in workers has been Joe BIden's catastrophic socialist policy of having the government match or even surpass what the private sector is paying, to wit:

... the initial jobless claims and continuing jobless claims are declining faster in these 10 states, relative to the rest of the US (see Exhibit 17 and Exhibit 18), suggesting that an end of these benefits over the coming weeks in all other states could prove to be an important tailwind for labor supply,and ultimately higher payrolls.

Yes, Morgan Stanley we agree: the end of ridiculous, socialist policies will certainly be a much welcome tailwind not only for labor supply and higher payrolls, but a much more stable society.

It's not just Morgan Stanley. On Sunday, the WSJ picked up on this and reported that "the number of unemployment-benefit recipients is falling at a faster rate in Missouri and 21 other states canceling enhanced and extended payments this month, suggesting that ending the aid could push more people to take jobs."

The number of workers paid benefits through regular state programs fell 13.8% by the week ended June 12 from mid-May—when many governors announced changes—in states saying that benefits would end in June, according to an analysis by Jefferies LLC economists. That compares with a 10% decline in states ending benefits in July, and a 5.7% decrease in states ending benefits in September. Workers on state programs would lose the $300 weekly federal enhancement but could continuing receiving the state benefits.

Jefferies also found somewhat larger decreases in the number of people receiving benefits through pandemic programs in states curtailing benefits, though the data lags behind by an additional week. In many cases, those recipients will be cut off entirely when their state ends participation in the federal programs.

“You’re starting to see a response to these programs ending,” said Aneta Markowska, Jefferies’ chief financial economist. In recent months “employers were having to compete with the government handing out money, and that makes it very hard to attract workers.”

And here is just how fast things will turn around once people's welfare is cut:

Then a few weeks ago, things began to change at its Missouri locations. At one property, seven people came to a job fair, which Ms. Eigelberger took as a positive sign. Then, two weeks ago, the Element St. Louis Midtown hotel had a breakthrough with 40 job seekers, she said.

“It’s crazy how quickly” things seem to be ramping up, she said, noting that workers in other states where Midas operates and the federal benefits are still in place appear reluctant to re-enter the workforce.

The hotel had 11 openings, including housekeeping, front desk and food-service jobs, Ms. Eigelberger said. It offered positions to nine job seekers at the fair, and all of them arrived for their first day of work. Several of the new hires had been out of work for at least six months.

* * *

So fast forward to today's latest initial jobless claims report. which wrong-footed the market with a misleading headline, which found that in the latest week, the number of initial claims recipients jumped by 419K, far more than the 350K expected, with increases in some auto-producing states potentially related to factory retooling.

But the real story is what was below the headline: according to the DOL, the total number of claimants collapsed by 1.263 million, as over 1.1 million emergency pandemic claims ended.

But the kicker in today's report was looking at the data at the state level, which confirmed what we had known all along: as Goldman writes, below, continued claims in regular state programs diverged further between states that are and are not ending benefits ahead of their statutory expiration in September in the week ending July 10. In other words, while jobless claims - both initial and continuing - are tumbling in Republican states, helping to rapidly renormalize the labor market,  they have barely budged in Democrat states.

Of course, in retrospect this should hardly be a shock: after all paying people not to work means that - gasp - they will sit on their ass and not work. What is idiotic and completely unexplainable is why a government would pull such a policy straight out of USSR central planning in "hopes" of boosting wages by creating a labor shortage when in reality all it does is create nothing but worker and wage chaos and resentment among those who vow to never work again and instead choose to sue the their state rather than go back to the labor market such as Sharon Singer-Mann whose story we profiled recently.

And once done contemplating the dumpster fire that the economy is in many if not all blue states, consider this: once Federal benefits run out and millions of workers flood back into the labor market, what happens to not just their wages but to everyone else's wages as companies that have been hammered on their gross profit not only the fat but also muscle. Just how long before the current inflationary burst turns into all-out stagflation.

Tyler Durden Thu, 07/22/2021 - 10:57
Published:7/22/2021 10:07:21 AM
[Markets] Market Snapshot: U.S. stocks struggle for direction after unexpected rise in jobless claims U.S. stocks see a mixed performance in early activity Thursday after data shows first-time applications for unemployment benefits rose last week.
Published:7/22/2021 10:07:21 AM
[Entertainment] Finding these artful animals around Capitol Hill is as easy as ABC A koala, an anteater and a pod of narwhals are part of this kid-friendly safari. Published:7/22/2021 10:07:21 AM
[Uncategorized] Democrats Welcome Jeff Bezos Back to Earth With Tax Demands

The Eagle may have landed, but the vultures are already circling over spaceflight taxes.

The post Democrats Welcome Jeff Bezos Back to Earth With Tax Demands first appeared on Le·gal In·sur·rec·tion.
Published:7/22/2021 10:07:21 AM
[World] Bond Report: Treasury yields slip further after surprising surge in jobless claims Treasurys rally further on Thursday, sending the yield on the 10-year note back down to around 1.25% following a surprising surge in weekly jobless claims.
Published:7/22/2021 10:07:21 AM
[] Morning Rant - Special Guest Ranter Weasel Sometime in kindergarten or first grade most of us learned not to be bothered by being called names. Creative offerings such as ButtFace and DoodieHead were the childlike taunts of the playground. Today they are Racist, Fascist and Homophobe,... Published:7/22/2021 10:07:21 AM
[] These Aren't the Democrats of Old Published:7/21/2021 11:41:27 PM
[Markets] Asian markets rise as earnings optimism outweighs COVID fears Asian stock markets followed Wall Street higher Thursday for a second day as optimism about an economic recovery appeared to outweigh concern over rising coronavirus cases and inflation. Published:7/21/2021 11:41:24 PM
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Published:7/21/2021 11:41:22 PM
[] Is the Rapture Coming? Should We Care? Published:7/21/2021 11:16:17 PM
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[Fundings & Exits] Indonesian B2B marketplace GudangAda raises more than $100M in new funding GudangAda, a Jakarta-based marketplace that brings wholesalers closer to retail stores and other buyers, announced it has closed a Series B of more than $100 million. The company says the round was oversubscribed, passing its initial target of $75 million. The funding was led by Asia Partners and Falcon Edge, with participation from Sequoia Capital […] Published:7/21/2021 11:16:15 PM
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Published:7/21/2021 11:16:15 PM
[topics:in-the-news/migrant-crisis] Thursday morning UK news briefing: Today's top headlines from The Telegraph Published:7/21/2021 11:16:15 PM
[Markets] Whitehead's 'State Of The Nation': Still Divided, Enslaved, & Locked Down Whitehead's 'State Of The Nation': Still Divided, Enslaved, & Locked Down

Authored by John W. Whitehead & Nisha Whitehead via The Rutherford Institute,

A house divided against itself cannot stand. I believe this government cannot endure, permanently, half slave and half free. I do not expect the Union to be dissolved—I do not expect the house to fall—but I do expect it will cease to be divided. It will become all one thing or all the other.”

- Abraham Lincoln

History has a funny way of circling back on itself.

The facts, figures, faces and technology may change from era to era, but the dangers remain the same.

This year is no different, whatever the politicians and talking heads may say to the contrary.

Sure, there’s a new guy in charge, but for the most part, we’re still recycling the same news stories that have kept us with one eye warily glued to the news for the past 100-odd years: War. Corruption. Brutality. Economic instability. Partisan politics. Militarism. Disease. Hunger. Greed. Violence. Poverty. Ignorance. Hatred.

The more things change, the more they stay the same.

Brush up on your history, and you’ll find that we’ve been stuck on repeat for some time now.

Take the United States of America in the year 2021, which is not so far different from the United States of America during the Civil Rights era, or the Cold War era, or even the Depression era.

Go far enough afield, and you’ll find aspects of our troubled history mirrored in the totalitarianism of Nazi Germany, in the fascism of Mussolini’s Italy, and further back in the militarism of the Roman Empire.

We’re like TV weatherman Phil Connors in Harold Ramis’ classic 1993 comedy Groundhog Day, forced to live the same day over and over again.

Here in the American police state, however, we continue to wake up, hoping each new day, new president and new year will somehow be different from what has come before.

Unfortunately, no matter how we change the narrative, change the characters, change the plot lines, we seem to keep ending up in the same place that we started: enslaved, divided and repeating the mistakes of the past.

You want to know about the true State of our Nation? Listen up.

The State of the Union: The state of our nation is politically polarized, controlled by forces beyond the purview of the average American, and rapidly moving the nation away from its freedom foundation. Over the past year, due in part to the COVID-19 pandemic, Americans have found themselves repeatedly subjected to egregious civil liberties violations, invasive surveillance, martial law, lockdowns, political correctness, erosions of free speech, strip searches, police shootings of unarmed citizens, government spying, the criminalization of lawful activities, warmongering, etc.

The predators of the police state have wreaked havoc on our freedoms, our communities, and our lives. The government does not listen to the citizenry, refuses to abide by the Constitution, and treats taxpayers as a source of funding and little else. Police officers shoot unarmed citizens and their household pets. Government agents—including local police—remain armed to the teeth and act like soldiers on a battlefield. Bloated government agencies continue to fleece taxpayers. Government technicians spy on our emails and phone calls. And government contractors make a killing by waging endless wars abroad.

Consequently, the state of our nation remains bureaucratic, debt-ridden, violent, militarized, fascist, lawless, invasive, corrupt, untrustworthy, mired in war, and unresponsive to the wishes and needs of the electorate.

The policies of the American police state continue unabated.

The Executive Branch: All of the imperial powers amassed by Donald Trump, Barack Obama and George W. Bush—to kill American citizens without due process, to detain suspects indefinitely, to strip Americans of their citizenship rights, to carry out mass surveillance on Americans without probable cause, to suspend laws during wartime, to disregard laws with which he might disagree, to conduct secret wars and convene secret courts, to sanction torture, to sidestep the legislatures and courts with executive orders and signing statements, to direct the military to operate beyond the reach of the law, to act as a dictator and a tyrant, above the law and beyond any real accountability—were inherited by Joe Biden.

Biden has these powers because every successive occupant of the Oval Office has been allowed to expand the reach and power of the presidency through the use of executive orders, decrees, memorandums, proclamations, national security directives and legislative signing statements that can be activated by any sitting president. Those of us who saw this eventuality coming have been warning for years about the growing danger of the Executive Branch with its presidential toolbox of terror that could be used—and abused—by future presidents. The groundwork, we warned, was being laid for a new kind of government where it won’t matter if you’re innocent or guilty, whether you’re a threat to the nation or even if you’re a citizen. What will matter is what the president—or whoever happens to be occupying the Oval Office at the time—thinks. And if he or she thinks you’re a threat to the nation and should be locked up, then you’ll be locked up with no access to the protections our Constitution provides. In effect, you will disappear.

Our warnings continue to go unheeded.

The Legislative Branch:  Congress may well be the most self-serving, semi-corrupt institution in America. Abuses of office runs the gamut from elected representatives neglecting their constituencies to engaging in self-serving practices, including the misuse of eminent domain, earmarking hundreds of millions of dollars in federal contracting in return for personal gain and campaign contributions, having inappropriate ties to lobbyist groups and incorrectly or incompletely disclosing financial information. Pork barrel spending, hastily passed legislation, partisan bickering, a skewed work ethic, graft and moral turpitude have all contributed to the public’s increasing dissatisfaction with congressional leadership. No wonder only 31 percent of Americans approve of the job Congress is doing.

The Judicial Branch: The Supreme Court was intended to be an institution established to intervene and protect the people against the government and its agents when they overstep their bounds. Yet through their deference to police power, preference for security over freedom, and evisceration of our most basic rights for the sake of order and expediency, the justices of the United States Supreme Court have become the guardians of the American police state in which we now live. As a result, sound judgment and justice have largely taken a back seat to legalism, statism and elitism, while preserving the rights of the people has been deprioritized and made to play second fiddle to both governmental and corporate interests. The courts have empowered the government to wreak havoc on our liberties. Protections for private property continue to be undermined. And Americans can no longer rely on the courts to mete out justice.

Shadow Government: Joe Biden inherited more than a bitterly divided nation teetering on the brink of financial catastrophe when he assumed office. He also inherited a shadow government, one that is fully operational and staffed by unelected officials who are, in essence, running the country. Referred to as the Deep State, this shadow government is comprised of unelected government bureaucrats, corporations, contractors, paper-pushers, and button-pushers who are actually calling the shots behind the scenes right now.

Law Enforcement: By and large the term “law enforcement” encompasses all agents within a militarized police state, including the military, local police, and the various agencies such as the Secret Service, FBI, CIA, NSA, etc. Having been given the green light to probe, poke, pinch, taser, search, seize, strip and generally manhandle anyone they see fit in almost any circumstance, all with the general blessing of the courts, America’s law enforcement officials, no longer mere servants of the people entrusted with keeping the peace but now extensions of the military, are part of an elite ruling class dependent on keeping the masses corralled, under control, and treated like suspects and enemies rather than citizens. As a result, police are becoming even more militarized and weaponized, and police shootings of unarmed individuals continue to increase.

A Suspect Surveillance Society: Every dystopian sci-fi film we’ve ever seen is suddenly converging into this present moment in a dangerous trifecta between science, technology and a government that wants to be all-seeing, all-knowing and all-powerful. By tapping into your phone lines and cell phone communications, the government knows what you say. By uploading all of your emails, opening your mail, and reading your Facebook posts and text messages, the government knows what you write. By monitoring your movements with the use of license plate readers, surveillance cameras and other tracking devices, the government knows where you go. By churning through all of the detritus of your life—what you read, where you go, what you say—the government can predict what you will do. By mapping the synapses in your brain, scientists—and in turn, the government—will soon know what you remember. And by accessing your DNA, the government will soon know everything else about you that they don’t already know: your family chart, your ancestry, what you look like, your health history, your inclination to follow orders or chart your own course, etc. Consequently, in the face of DNA evidence that places us at the scene of a crime, behavior sensing technology that interprets our body temperature and facial tics as suspicious, and government surveillance devices that cross-check our biometricslicense plates and DNA against a growing database of unsolved crimes and potential criminals, we are no longer “innocent until proven guilty.”

Military Empire: America’s endless global wars and burgeoning military empire—funded by taxpayer dollars—have depleted our resources, over-extended our military and increased our similarities to the Roman Empire and its eventual demise. Black budget spending has completely undermined any hope of fiscal transparency, with government contractors padding their pockets at the expense of taxpayers and the nation’s infrastructure—railroads, water pipelines, ports, dams, bridges, airports and roads—taking the hit. The U.S. now operates approximately 800 military bases in foreign countries around the globe at an annual cost of at least $156 billion. The consequences of financing a global military presence are dire. In fact, David Walker, former comptroller general of the U.S., believes there are “striking similarities” between America’s current situation and the factors that contributed to the fall of Rome, including “declining moral values and political civility at home, an over-confident and over-extended military in foreign lands and fiscal irresponsibility by the central government.”

I haven’t even touched on the corporate state, the military industrial complex, SWAT team raids, invasive surveillance technology, zero tolerance policies in the schools, overcriminalization, or privatized prisons, to name just a few. However, what I have touched on should be enough to show that the landscape of our freedoms has already changed dramatically from what it once was and will no doubt continue to deteriorate unless Americans can find a way to wrest back control of their government and reclaim their freedoms.

So how do we go about reclaiming our freedoms and reining in our runaway government?

Essentially, there are four camps of thought among the citizenry when it comes to holding the government accountable.

Which camp you fall into says a lot about your view of government—or, at least, your view of whichever administration happens to be in power at the time.

In the first camp are those who trust the government to do the right thing, despite the government’s repeated failures in this department.

In the second camp are those who not only don’t trust the government but think the government is out to get them.

In the third camp are those who see government neither as an angel nor a devil, but merely as an entity that needs to be controlled, or as Thomas Jefferson phrased it, bound “down from mischief with the chains of the Constitution.”

Then there’s the fourth camp, comprised of individuals who pay little to no attention to the workings of government. Easily entertained, easily distracted, easily led, these are the ones who make the government’s job far easier than it should be.

It is easy to be diverted, distracted and amused by the antics of politicians, the pomp and circumstance of awards shows, athletic events, and entertainment news, and the feel-good evangelism that passes for religion today.

What is far more difficult to face up to is the reality of life in America, where unemployment, poverty, inequality, injustice and violence by government agents are increasingly norms.

The powers-that-be want us to remain divided, alienated from each other based on our politics, our bank accounts, our religion, our race and our value systems. Yet as George Orwell observed, “The real division is not between conservatives and revolutionaries but between authoritarians and libertarians.”

The only distinction that matters anymore is where you stand in the American police state.

In other words, you’re either part of the problem or part of the solution.

America is at a crossroads.

History may show that from this point forward, we will have left behind any semblance of constitutional government and entered into a militaristic state where all citizens are suspects and security trumps freedom.

Certainly, we have moved beyond the era of representative government and entered a new age: the age of authoritarianism. Even with its constantly shifting terrain, this topsy-turvy travesty of law and government has become America’s new normal.

As long as we continue to put our politics ahead of our principles—moral, legal and constitutional—“we the people” will lose.

And you know who will keep winning by playing on our prejudices, capitalizing on our fears, deepening our distrust of our fellow citizens, and dividing us into polarized, warring camps incapable of finding consensus on the one true menace that is an immediate threat to all of our freedoms? The government.

As I make clear in my book Battlefield America: The War on the American People and its fictional counterpart The Erik Blair Diaries, when we lose sight of the true purpose of government—to protect our rights—and fail to keep the government in its place as our servant, we allow the government to overstep its bounds and become a tyrant that rules by brute force.

Tyler Durden Thu, 07/22/2021 - 00:00
Published:7/21/2021 11:16:15 PM
[World] [Eugene Volokh] Thursday Open Thread What's on your mind? Published:7/21/2021 11:16:15 PM
[World] Haiti and Washington’s Braindead Interventionists

Their only solution to any problem is to invade. Does anyone have a better idea?

The post Haiti and Washington’s Braindead Interventionists appeared first on The American Conservative.

Published:7/21/2021 11:16:15 PM
[Markets] TaxWatch: 3 ways Olympic athletes’ taxes are different than yours There are rules about when the IRS can and can't go for the gold.
Published:7/21/2021 11:16:14 PM
[Entertainment] Kristin Cavallari Sounds Off on "Love Triangle" Rumors Involving Southern Charm's Craig and Austen Kristin Cavallari, Craig Conover, Austen Kroll, InstagramKristin Cavallari is not interested in repeating history. Back in the day, the Laguna Beach star experienced heartbreak after she and co-star Lauren Conrad fought over boy next door...
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[fc23f9df-0345-57c4-a0ca-48992ab2617e] Lady Gaga stuns in star-shaped orange bikini during pool day "Rain On Me" singer Lady Gaga shared a brief clip of herself wearing a star-shaped bikini. Published:7/21/2021 10:07:09 PM
[Markets] : Lawsuit accuses Activision of ‘frat boy’ workplace rampant with sexual bias Videogame giant is accused of paying and promoting female employees less than their male peers, with female employees subject to "constant sexual harassment," including unwanted sexual comments, advances and groping.
Published:7/21/2021 10:07:09 PM
[Free Speech] [Eugene Volokh] Bill O'Reilly Gets Temporary Order to Stop Andrea Mackris from Breaching Her Nondisclosure Agreement Mackris was going to go on The View Published:7/21/2021 10:07:09 PM
[Crime] Did the FBI promote the plot to kidnap Gov. Whitmer? (Paul Mirengoff) The answer to this question appears to be that, yes, the FBI did. At any rate, that conclusion follows from this BuzzFeed article. That the FBI promoted the plot does not provide a moral defense for the people who signed on to kidnap a governor. It may not provide a legal defense, either. But if the FBI did promote the kidnapping plot, that’s a significant and disturbing fact about the Published:7/21/2021 10:07:09 PM
[Markets] State Department's #2 To Visit China, Will Discuss "Areas Of Serious Concern About PRC Actions" State Department's #2 To Visit China, Will Discuss "Areas Of Serious Concern About PRC Actions"

The US State Department's #2, deputy secretary of state Wendy Sherman, will meet Chinese Foreign Minister Wang Yi in Tianjin on July 25-26, after her trip to Mongolia. In a short statement on Wednesday, the US State Department said the discussions were part of “ongoing US efforts to hold candid exchanges with PRC officials to advance US interests and values and to responsibly manage the relationship”.

US deputy secretary of state Wendy Sherman (centre) will visit China on her trip to Asia. Photo: AP

“The deputy secretary will discuss areas where we have serious concerns about PRC actions, as well as areas where our interests align,” it said, referring to the People’s Republic of China.

In an earlier statement, Washington said Sherman would go to Japan, South Korea and Mongolia, raising concerns that she would not make a stop in China. Analysts wondered if Sherman's original schedule suggested lingering tensions between the two sides, following the catastrophic summit in Alaska in March.

On Tuesday, the State Department said a trip to China by Sherman remained possible during her current tour of Asia if officials determined that a meeting between Sherman and her Chinese counterparts would be productive.

“We’ve been clear that when it comes to the [People’s Republic of China], we will engage when it’s in our interests to do so, and we do remain interested in doing so in a practical, substantive and direct manner. That certainly remains the case,” department spokesman Ned Price said.

According to SCMP sources, China was planning for Xie Feng, a foreign vice-minister in charge of US affairs, to meet Sherman. Xie was the foreign ministry commissioner in Hong Kong and has also been a foreign ministry “point person” on Xinjiang – two key issues troubling China-US relations. Wang would also receive Sherman but Washington was hoping she could have greater access to President Xi Jinping’s inner circle.

Commenting on the upcoming meeting, Newsquawk notes that a scheduled meeting implies that sides are working towards de-escalating tensions, with some suggesting that such meetings could augur well for a future meeting between President Biden and President Xi. It also comes after the FT reported last week that China had denied the request for US Deputy Secretary of State Sherman to meet with her Chinese counterpart during a proposed visit to the country this week.

The meeting is expected to serve as a precursor for a meeting between Secretary of State Blinken and China's Foreign Minister Wang Yi, the source added. The meeting is reportedly to "touch base and for both sides to get a sense of where the relationship is going" and also comes as tensions remain heightened on several fronts.

The US ramped up its rhetoric on the Xinjiang issue last week when it warned American companies with interests in the area risks breaking US law. Furthermore, the military landscape remains heated. Earlier this week, China said it "drove away" a US warship that trespassed Chinese territory in the South China Sea.

Further, China warned the US of "serious consequences" after the US Air Force delivered "diplomatic mail" to the de facto US embassy in Taipei, with Beijing claiming that the US trespassed its airspace.

The SCMP also notes that over the past week, US President Joe Biden and his administration have taken a number of measures that have angered Chinese officials, including a declaration on Monday, together with Britain and the European Union, that Beijing was behind this year’s cyberespionage attack on a Microsoft Exchange email server, This followed the sanctioning of seven Chinese officials which Washington said were responsible for undermining the autonomy of Hong Kong. Beijing denounced the sanctions and threatened to take strong retaliation.

Meanwhile, the trade deal will likely not be revisited in a meaningful way next week as the trade representatives from both sides are not meeting, as far as the reports go.

Thus, the meeting will be observed with a geopolitical lens, and the tone between the nations will be eyed. SCMP also suggested that this meeting could eventually pave the way for a summit between the two presidents - some have raised the possibility of a Biden-Xi meeting at the October G20 summit in Rome. A joint press conference or statement will be viewed as constructive.

Tyler Durden Wed, 07/21/2021 - 23:00
Published:7/21/2021 10:07:09 PM
[Fundings & Exits] Indonesia “sea-to-table” platform Aruna hooks $35M led by Prosus and East Ventures Growth Fund When Aruna’s founders first met at university, they wanted to find a way to use their studies in information technology to help family members who were running small fisheries. Indonesia is one of the world’s largest fisheries producers, but the industry is very fragmented. This means fisheries, especially small ones, deal with fluctuations in demand […] Published:7/21/2021 9:35:31 PM
[d6a2488d-ea80-5431-bd81-503afeca7acf] Sylvester Stallone jokes he wishes daughters 'would stop growing so tall' 'The Suicide Squad' star Sylvester Stallone shared a picture with his daughters, including model and actress Sistine Stallone. Published:7/21/2021 9:35:31 PM
[Markets] Watch: California Shoplifters Stroll Out Of TJ Maxx With Arms Full Of Merchandise Watch: California Shoplifters Stroll Out Of TJ Maxx With Arms Full Of Merchandise

In yet another example of California's decline under Democratic leadership, two men were caught on film casually walking out of a suburban Los Angeles TJ Maxx store while carrying armfulls of merchandise - just seven months after LA District Attorney George Gascón announced his office would no longer prosecute misdemeanor crimes such as shoplifting.

The incident occurred at the TJ Maxx in Granada Hills. Neither man has been charged or arrested, though the LAPD continues to investigate the incident.

"They didn’t even run out, they walked out," said LAPD Sgt. Jerretta Sandoz in a statement to CBS LA. "And so, that’s sending a message that we, the criminals, are winning."

Sandoz, who serves as vice president of the Los Angeles Police Protective League, said she blames the incident on Prop 47, a 2014 referendum that lowered criminal sentences on crimes such as shoplifting. 

"If they’re caught, they’re probably given the equivalent of a traffic ticket," she told CBS LA. "So it’s not taken seriously."

"If you let these criminals think that they can go in and steal merchandise and steal things, what happens when someone tries to stop them," Sandoz added. -Fox News

Recall that Gascón is the same DA who in April dissolved or downsized the city's hardcore gangs and narcotics units ahead of a spike in homicides to 13-year highs - for which LA County Sheriff Alex Villanueva directly blames him.

The video illustrates the latest in a spate of shoplifting across the state. In San Francisco, business owners and security officials are decrying the "lawlessness" in the city caused by shoplifters.

"This is really bad. I’ve been in the Bay area 20 years, I’ve never seen this," a local security guard, J.C. Hernandez, told Fox News, adding "It's just lawlessness ... people are just openly coming in and stealing stuff."

Tyler Durden Wed, 07/21/2021 - 22:20
Published:7/21/2021 9:35:31 PM
[] Misinformation? President Biden says you're not going to get COVID if you have these vaccinations Published:7/21/2021 9:07:41 PM
[] Secretary of State Anthony Blinken Might Be Even Worse Than His Former Boss John Kerry Published:7/21/2021 9:07:41 PM
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[Markets] WeWork Paid Founder Adam Neumann More Than $2 Billion, New Book Reveals WeWork Paid Founder Adam Neumann More Than $2 Billion, New Book Reveals

A pair of WSJ reporters have just released a new book, "The Cult of We", yet another wild tale chronicling the exploits of WeWork founder and former CEO Adam Neumann. As one might expect, the book features several new revelations about Neumann and the extent of Neumann's extraction of resources from his cash-burning 'unicorn', primarily in the form of compensation.

In fact, the book reveals that Neumann extracted even more wealth than previously believed: entities he controlled made more than $2.1 billion from the company between its founding to the present day, including via stock sales, cash settlement payments and shares.

Offering yet another example of how WeWork's backers and bankers - particularly SoftBank and its chairman Masayoshi Son - enabled Neumann and his manic impulses, the WSJ reporters reveal that Neumann and a group of his closest associates sold shares during every funding round. He made roughly $500MM from these sales. In 2019, Neumann pocketed $300MM from additional share sales. Then in May, it was reported that Neumann received another award worth $245MM, bringing the total value of Neumann's exit package to nearly $1 billion.

Later, via a renegotiation of his exit package, WeWork agreed to pay out another $185MM as part of a non-compete agreement while also 'renegotiating' a $431.5MM line of credit secured by more than 19MM shares of WeWork stock owned by a Neumann controlled entity.

Following years of whispered reports about his erratic behavior, everything fell apart for Neumann after WeWork relased its S-1, exposing that Neumann and his family would retain virtually complete control over the company. WeWork quickly modified the voting rights' arrangement, but it was too late. The combination of WeWork's mounting losses, Neumann's behavior and the insanity exposed by the company's "consciousness-elevating" S-1 prompted investors to balk. The company's valuation quickly dropped from nearly $50 billion to less than $10 billion.

WeWork finally went public this spring in a deal with a SPAC called BowX Acquisition Corp. Its investors managed to raise some institutional capital, and have been pitching WeWork as a reopening play, arguing that its "flex space" offerings will become even more popular in a world where 'hybrid work' becomes the norm, and where companies don't want to commit to long-term leases.

In addition to the staggering payouts received by Neumann, the book also revealed many other ridiculous details. During the company's early days, Neumann openly fantasized about trying to become Israel's prime minister. He also said he wanted to become "president of the world" later on, after the company had achieved its massive valuation.

For an executive who cultivated a personality cult, Neumann had a new exit designed to his offices so he could avoid running into staff in the main lobby on his way to the elevators. When it came to interactions with real-life politicians, Neumann was often late or otherwise impertinent.  He once tried to schedule a last-minute meeting with Canadian PM Justin Trudeau, and nearly missed a meeting with British PM Theresa May because his wife reportedly wanted him to skip it.

Neuman also grew paranoid as top executives started to push back against more of his decisions. As the Verge reports, after 2012, priorities shifted at WeWork and management became obsessed with increasing WeWork's "valuation", often at the expense of creating a profitable and sustainable business.

In an interview with the Verge, one of the authors of "the Cult of We" quipped that "it still is kind of wild to me how Adam Neumann had the ultimate power to make all of this happen and do all the things he did when you have some of the most sophisticated financiers in the world behind him...How did they all get played?"

They didn't, of course. They were in on it the whole time. WeWork's bankers were happy to see it load up on debt and venture capital. And when it came time for the IPO, they were more than eager to dump the shares on the public markets - right up until it became clear that Neumann had poisoned the well.

Tyler Durden Wed, 07/21/2021 - 22:00
Published:7/21/2021 9:07:40 PM
[] Wednesday Overnight Open Thread (7/21/21) *** The Quotes of The Day Quote I There is no such thing as paranoia. Your worst fears can come true at any moment. Hunter S. Thompson Quote II When in doubt, don't.Benjamin Franklin Quote III Religion is what... Published:7/21/2021 9:07:40 PM
[NVDA] Nvidia: The Post Split Trading Plan Published:7/21/2021 8:35:24 PM
[] Biden Administration Calls Guide on 'Disrupting Whiteness' an 'Error' While Leaving Other Radical Content Intact Published:7/21/2021 8:35:24 PM
[] President Biden tells restaurant owner he can't find workers because they've all moved on to better opportunities Published:7/21/2021 8:35:24 PM
[Entertainment] Erika Jayne Reveals How She Found Out Ex Tom Girardi Was Cheating for Years Before Divorce Erika Girardi, Tom Girardi, Erika JayneOne not-so-"Pretty Mess" after another. The Real Housewives of Beverly Hills star Erika Jayne has had one hell of a year. After filing for divorce from husband Tom Girardi in...
Published:7/21/2021 8:35:24 PM
[Markets] If The US Wants To Beat China, Why Is It Copying China's Socialism? If The US Wants To Beat China, Why Is It Copying China's Socialism?

Authored by Mihai Macovei via The Mises Institute,

Under the Biden administration the US continued escalating the economic and geopolitical frictions with China. At the recent G7 Summit in Carbis Bay, President Biden sought to rally a “united front” against China with traditional G7 allies and new ones such as Australia, India, South Korea, and South Africa and rebuked China on economic policies, human rights, and tensions in the East and South China Seas. The US also persuaded its G7 allies to back a massive infrastructure support package for developing countries. The so-called Build Back Better World Partnership (B3W) is a de facto rival to China’s Belt and Road Initiative (BRI). But it is far from obvious what the West stands to gain by emulating China’s exorbitant and highly controversial modern “Silk Road” venture.

The US’s Ambitious Global Infrastructure Plan

The B3W wants to mobilize “hundreds of billions of dollars of infrastructure investment,” in order to narrow an estimated infrastructure need of $40 trillion plus in the developing world. The B3W financing is expected to come from US budgetary instruments, such as the Development Finance Corporation and the United States Agency for International Development (USAID); from multilateral development banks (MDBs), such as the World Bank; and from the private sector and G7 partners. As the B3W is meant to challenge China’s project, we expect it to at least match the Chinese financial envelope, most commonly estimated at more than $1 trillion in investment and lending commitments so far. This is more than eight times higher than the nearly $113 billion in official development assistance and $22 billion in private sector investment provided by G7 countries for foreign infrastructure projects during 2015–19 (graph 1).

Graph 1: G7 Infrastructure Development Assistance

Source: Center for Strategic and International Studies (CSIS).

In order to surpass China, the B3W aims at having a broader geographical coverage, a wider focus, and better project governance and standards. The BRI comprises a “Silk Road Economic Belt” trying to link China with Asia, Russia, and Europe by land, and a “Maritime Silk Road,” connecting China’s coastal regions with Asia, the South Pacific, Africa, and Europe, but its Western challenger aims at being global in scope. While the Chinese initiative is focused on traditional infrastructure projects—highways, railroads, ports, and power plants, the B3W wants to invest also in climate, health and digital technology. And because Chinese projects have been heavily criticized for lack of transparency, corruption, unsustainable debt and adverse environmental and social impacts, the B3W advertises itself as “a values-driven, high-standard, and transparent infrastructure partnership led by major democracies.”

Holes in China’s “Silk Road”

From its announcement in 2013, China’s megainfrastructure project has been met with suspicion in the West. Most important, it was feared that China had geostrategic ambitions to bring smaller BRI partners under its sphere of influence. It was also claimed that China was pursuing a “debt-trap diplomacy” in order to take over key strategic assets such as electric grids and ports, while the latter could be also used for military purposes.

With time, many analysts realized that much of this criticism was exaggerated. First, almost 140 countries have signed on to the BRI as of this writing, of which eighteen are from the EU, showing that many governments find the Chinese deal beneficial. And although China has not financed in full the promised $1 trillion in projects so far, it did make $190 billion worth of investments and $390 billion in construction work (financed by Chinese loans in general) during 2014–18. This is more than the $467 billion of development loans provided by the World Bank during 2008–19. Second, while the number of requests for debt renegotiation and relief has increased, overseas asset seizures have rarely occurred. Third, many pundits concur that the BRI ports are commercially designed and almost impossible to employ militarily.

Undeniably, China has been trying to enhance its political influence through the BRI, and is now perceived as the most influential economic actor in Southeast Asia and Africa. But resentments over some onerous projects, corruption scandals, and increasing debt burdens mean that such gains could be easily reversed, and China has started to improve its lending and investment standards. The BRI focus has been widened from traditional infrastructure to telecommunications, digital technology, and fintech. And China also expanded the BRI’s overarching goal to helping build a free trade and investment area which would accelerate economic growth for all partner countries.

But BRI’s economic benefits are skewed in favor of Chinese construction companies at the expense of taxpayers. The BRI provided much business for China’s overstretched construction sector after the end of the domestic stimulus binge following the Great Recession. Almost 90 percent of the construction works funded under the BRI went to Chinese contractors, fueling criticism that the BRI creates unfair advantages for Chinese companies, which have become global leaders. Seven of the ten largest construction companies in the world by revenue were Chinese in 2017. At the same time, if China wanted to set a debt trap with the BRI, it seems that it is the country which has fallen into it. The pandemic has accelerated the already growing debt defaults and renegotiations and an estimated $94 billion, or a quarter of China’s overseas lending, has come under renegotiation so far (graph 2). It shows that the BRI’s most important lenders, i.e. China’s two main policy banks—the China Development Bank and the Export-Import Bank of China—have done a poor job of financing viable projects, for which the Chinese taxpayer is likely to foot the bill eventually.3 And given the sizeable amount of investments put on hold, scaled back, or cancelled, and the very low participation of private lenders, it is obvious that the BRI participating governments have made several bad investment decisions too.

Graph 2: China’s Debt Renegotiation Cases

Source: Rhodium Group Research.

Over 2013–17, the BRI looked pretty successful and was growing fast in terms of contracts signed and loans. After high-profile contracts were cancelled and debt renegotiations surged, the project ran out of steam. China’s big banks started rethinking and reducing their overseas lending and the number of construction contracts went down too (graph 3). This was also driven by the deleveraging of Chinese banks after the large credit expansion following the global financial crisis. China’s large domestic growth stimuli weakened its external competitiveness and reduced current account surpluses and outward FDI (foreign direct investment). The balance of payments crisis of 2015–16, which was accompanied by a drop in international reserves of more than $1 trillion and imposition of capital controls, reduced China’s ability to fund the massive overseas demand for infrastructure projects and investment. In addition, domestic voices started to question why Chinese people, also relatively poor, should subsidize unprofitable capital investment overseas.

Graph 3: China’s Overseas Construction Contracts

Source: Rhodium Group.

Should the West Go down China’s Road?

Before pouring money into B3W, the US should heed important lessons from China’s BRI venture and its own past. First, trying to fill in the $40 trillion plus infrastructure gap in the developing world requires a massive amount of resources. Just printing trillions of US dollars will not be enough, because real savings, i.e., goods and services, will need to be transferred abroad as current account surpluses. In order to carry out mammoth BRI projects, China recorded large current account surpluses and drew on its huge international reserves. Japanese companies also have a long history of building infrastructure across Southeast Asia which was also backed by substantial current account surpluses for several decades. On the other hand, both the US and the UK have been running chronic current account deficits, while the euro area started to register small surpluses only a few years ago (graph 4).

Graph 4: Current Account Balances

Source: OECD Statistics.

In addition, both the US and the EU are about to launch large domestic growth stimuli, including substantial green and digital investments, which are likely to strain further their feeble domestic real savings. Moreover, President Biden’s economic agenda includes important measures, such as tax and minimum wage hikes and higher social spending, that are likely to increase consumption while depressing economic activity and savings. Lastly, investment as a share of GDP is already relatively low in both the US and EU, calling into question the economic rationale for a government-led transfer of capital overseas (graph 5).

Graph 5: Domestic Investment Ratios

Source: World Bank Data.

The second lesson is that BRI slowed down not only when domestic resources dwindled, but also when the wasteful projects and bad debts became visible. The US and its allies seem convinced that, unlike the BRI, their projects will be profitable and transparent. But this is not what history tells us. Jeffrey Tucker shows that the true intent of the much-hailed Marshall Plan was not to help foreign countries, but to internationalize the New Deal and for the American taxpayer to subsidize US corporates. The plan drained private capital out of the US economy, and the country fell into recession shortly thereafter. It also helped entrench unionism, welfare states, and heavy regulations in Europe. According to Ryan McMaken, the history of building transcontinental railroads in the US is also rife with crony capitalism and corruption. The track record of conditional development lending from the International Monetary Fund, the World Bank, and other institutions that are supposed to back the B3W is not spotless either. These institutions are rarely able to support viable projects and economic liberalization: given their role as global lenders of last resort, they must prop up foreign governments that are usually overbureaucratic and corrupt.

In conclusion, if the US wants to strengthen its economic and geostrategic position versus China, it needs to apply the same free market principles that made it prosperous and powerful in the first place. Launching a second Marshall Plan, which mirrors China’s wasteful BRI, will only consolidate big government, crony capitalism, and corruption, eroding the US economy’s capital stock and competitiveness.

Tyler Durden Wed, 07/21/2021 - 21:20
Published:7/21/2021 8:35:24 PM
[] The Case for Trump in 2024 Published:7/21/2021 8:06:26 PM
[Uncategorized] Larry Elder wins lawsuit, Judge Orders him placed on Recall Ballot

"Victory! My next one will be on Sept. 14 at the ballot box."

The post Larry Elder wins lawsuit, Judge Orders him placed on Recall Ballot first appeared on Le·gal In·sur·rec·tion.
Published:7/21/2021 8:06:26 PM
[Markets] : Uber and Lyft drivers strike for a day, say earnings are declining despite driver shortage Ride-hailing drivers across the country executed a strike Wednesday, calling on the U.S. Senate to pass the PRO Act, a bill that would allow them to organize.
Published:7/21/2021 8:06:26 PM
[Boycotts] To Boycott Or Not To Boycott (John Hinderaker) We wrote here and here about Ben & Jerry’s decision to stop selling ice cream in Judea and Samaria, a rank expression of that company’s anti-Semitism. Now pro-Israel forces are fighting back. Israel National News headlines: “Republicans push back on Ben & Jerry’s following Judea and Samaria boycott.” Rep. Nicole Malliotakis (R-NY) urged Americans to “take a stand” against Ben & Jerry’s following the decision. “I think it’s really important Published:7/21/2021 8:06:26 PM
[Markets] ???????Record Droughts Plague Argentina As Parana River Hits 77-Year Low ???????Record Droughts Plague Argentina As Parana River Hits 77-Year Low

Record droughts plague Argentina, Brazil, Mexico, and Paraguay, threaten crops, water reserves, and economic recovery. 

Concentrating on Argentina, water levels on the Parana River are at 77 years lows, according to Reuters. The river is a major transport route for agricultural exports and a source of drinking water, irrigation, and energy. 

"Water levels in the Parana are at the lowest level since 1944, which requires a commitment from everyone to attend and act preventively and responsibly against this situation," the Government of Argentina said. 

About 80% of the country's farm exports flow from ports along the Parana River. If shipping vessels can't traverse the waterway, then farm goods would be landlocked. 

The top hemispheric factor contributing to drought conditions in South America is summer 2020 La Nina. It managed to push cold water in the eastern Pacific Ocean and reduced precipitation across the region. 

Droughts threaten to damage crop yields in South American economies reeling from the virus pandemic and exacerbate the global food shortage pushing food prices higher. 

S&P Global Platts expands more on the drought and impacts on the global food supply: 

  • Brazil -- the second-largest corn exporter in the world -- suffered severe drought during most of the corn-growing months and in addition to that, the southern part of the country was affected by frost toward the end of June, which exacerbated corn yield losses.
  • Persisting drought conditions in Brazil have trickled down to Argentina through the Parana river basin. Rainfall remained low across northern Argentina in recent months, where most agricultural activities are concentrated.

Days ago, Argentina announced a $10.4 million relief fund to mitigate the impact of the drought. 

S&P Global Platts also makes sense of the wild weather worldwide, contributing not to climate change but rather La Nina: 

The latest forecast by the US Climate Prediction Center said La Nina will potentially emerge during September-November and last through the 2021-22 winter, with a 66% chance during November-January.

The La Nina phenomenon, which is an occasional but natural cooling of the equatorial Pacific, is typically associated with above-normal rainfall in Southeast Asia, South Africa, India, and Australia, and drier weather in Argentina, Europe, Brazil, and the southern US.

This all means that inflation is not "transitory" as the Federal Reserve and all their muppets have tried to convince the world - instead, it'll be sticking around for some time as food prices will remain elevated. 

Tyler Durden Wed, 07/21/2021 - 21:00
Published:7/21/2021 8:06:26 PM
[Free Speech] [Eugene Volokh] Freedom of Speech ? The Free Speech Clause One key difference: The Free Speech Clause is about governmental restrictions on speech; freedom of speech is about restrictions on speech more broadly. Published:7/21/2021 7:35:07 PM
[d65e72d4-9938-5b1f-8c0e-6220a973be61] Tyler Cameron confirms he's in a relationship and explains why they 'finally' kissed on the 'fifth date' "Bachelorette" alum Tyler Cameron said that he believes kissing on the first date is not "a good thing." Published:7/21/2021 7:35:07 PM
[Politics] U.S. details plans to evacuate some Afghan translators who worked with American troops

The U.S. will move thousands of interpreters from Afghanistan, but it faces criticism for its lack of plans for other Afghans in danger from the Taliban.

Published:7/21/2021 7:35:07 PM
[Entertainment] Pay Tribute to the Big Apple with the Studs New York Collection Studs New YorkWe love these products, and we hope you do too. E! has affiliate relationships, so we may get a small share of the revenue from your purchases. Items are sold by the retailer, not...
Published:7/21/2021 7:35:07 PM
[In The News] Louisiana Republicans Fail To Override Governor’s Veto On Bill Banning Biological Males From Women’s Sports

By Mary Margaret Olohan -

The Louisiana House of Representatives failed Wednesday to override the governor’s veto of a bill banning biological males from women’s sports. Democratic Louisiana Gov. John Bel Edwards said the bill is “a solution in search of a problem that simply does not exist in Louisiana.” South Dakota faced a similar …

Louisiana Republicans Fail To Override Governor’s Veto On Bill Banning Biological Males From Women’s Sports is original content from Conservative Daily News - Where Americans go for news, current events and commentary they can trust - Conservative News Website for U.S. News, Political Cartoons and more.

Published:7/21/2021 7:35:07 PM
[Markets] Thousands Of Olympics Ticket Buyers Have Personal Info Leaked Online Thousands Of Olympics Ticket Buyers Have Personal Info Leaked Online

If you bought tickets to the Tokyo Olympics, you may want to change your passwords.

On Wednesday, a government official speaking on condition of anonymity revealed that thousands of login IDs and passwords of ticket buyers for the Paralympic events were leaked online, as well as the login credentials for those who had used a volunteer portal for the Summer Games, according to Kyodo News.

Meanwhile - said ticket holders going to be unable to attend the actual events due to coronavirus restrictions, angering local officials over the decision to move forward with the event.

As The Sun notes:

There is a growing backlash in the city over the Olympic Games getting the green light to continue.

And there is huge anger over foreign athletes, dignitaries and media being allowed to attend despite the capital being in a state of emergency.

Our stars have been warned to follow protocols and told to ‘not visit restaurants that are open after 8pm or that serve alcohol’.

It comes after organisers highlighted reports of accredited personnel for the Games being spotted drinking in downtown areas or violating quarantines.

Chiefs said the reports ‘have the potential to severely damage the reputation of the Tokyo 2020 Games and your organisations’.

Local concern in Tokyo is mounting over staging the Games.

Tens of thousands of foreign athletes, officials and journalists could accelerate infection rates and introduce more infectious variants.

And in a survey published by the Asahi Shimbun newspaper, over half of the Japanese public do not want the Games to go ahead.

According to a Asahi Shimbun poll, 68 percent of Japanese respondents doubt that the Games can be held “safe and secure”, a promise repeatedly made by Prime Minister Yoshihide Suga and the IOC.

The ticket sale fiasco is just the latest mishap plaguing the Olympics - as dozens of athletes and others involved in the games have tested positive for COVID-19, breaking the venue's so-called 'bubble' designed to protect against the disease, with several participants pulling out of the games. Meanwhile, the Olympics lost its largest sponsor this week, Toyota, which announced it wouldn't attend the opening ceremony either.

And in the last bit of bad luck for the games, a BEAR was spotted at the Fukushima softball venue - the first event of the games, according to The Sun, which notes that "Officers have confirmed that they had been unable to track down the giant beast - which has been identified as an Asian black bear."

Tyler Durden Wed, 07/21/2021 - 20:20
Published:7/21/2021 7:35:07 PM
[fd876a6c-9b9c-5040-84c7-42c7d1990465] Christina Haack says she shouldn't be 'shamed' for two divorces: 'Lucky' some get 'forever the first time' Christina Haack doesn't want to be "shamed" for having gone through two divorces. The HGTV star emphasized that some people aren't "lucky enough" to get forever the first time. Published:7/21/2021 7:35:07 PM
[] Doctor writes in 'emotional Facebook post' about dying COVID patients begging her for the vaccine Published:7/21/2021 7:04:51 PM
[Entertainment] Jason Sudeikis and Keeley Hazell Are "No Longer Romantic" After Brief Relationship Jason Sudeikis, Keeley HazellTed Lasso's Jason Sudeikis is a free agent after he and Keeley Hazell called time on their fling. A source tells E! News the father of two and actress are "no longer romantic"...
Published:7/21/2021 7:04:51 PM
[Politics] Attacked by recall backers, Newsom defends record on crime and takes action on retail theft

Newsom vowed Wednesday to continue California's comprehensive efforts to reduce crime, focused in part on substantially increased funding for mental health care, drug treatment and after-school programs.

Published:7/21/2021 7:04:51 PM
[433d5ffa-93b0-51a1-a376-8f0c07dc0252] Hayden Panettiere hangs out with ex Brian Hickerson after his jail stint Hayden Panettiere reunited with her ex-boyfriend Brian Hickerson after he spent time in jail for domestic violence, but he insists they aren’t back together. Published:7/21/2021 7:04:51 PM
[California] Anyone Can Grow Up To Be Governor, Except Larry Elder [Updated] (John Hinderaker) Radio talk show host Larry Elder is one of more than 40 candidates who have jumped through the hoops necessary to get on the ballot in California’s upcoming recall election. Only, unlike the others, Elder won’t be on the ballot if California’s Secretary of State gets her way. California recently adopted a statute, apparently aimed at Donald Trump, requiring presidential and gubernatorial candidates to supply five years worth of tax Published:7/21/2021 7:04:51 PM
[2021 News] Federal Bureau Of Incompetence: An Analysis Of The FBI’s Most Embarrassing Failures

Federal Bureau Of Incompetence: An Analysis Of The FBI’s Most Embarrassing Failures. If they listed all of them the report might take months to upload.

The post Federal Bureau Of Incompetence: An Analysis Of The FBI’s Most Embarrassing Failures appeared first on IHTM.

Published:7/21/2021 7:04:51 PM
[Markets] Israel Seeks To Invoke US Anti-BDS Laws Against Ben & Jerry's Israel Seeks To Invoke US Anti-BDS Laws Against Ben & Jerry's

Authored by Dave DeCamp via AntiWar.com,

Israeli leaders are furious with the American ice cream company Ben & Jerry’s for announcing that it will stop selling products in the occupied Palestinian territories of East Jerusalem and the West Bank.

Gilad Erdan, Israel’s ambassador to the US, sent letters to the governors of the 35 US states that have laws on the books against the Boycott Divestment and Sanctions (BDS) movement that calls for a global boycott to pressure Israel over its occupation and other human rights abuses.

Wikimedia Commons

"I ask that you consider speaking out against the company’s decision, and taking any other relevant steps, including in relations to your state laws and the commercial dealings between Ben and Jerry’s and your state," Erdan said in the letter that he sent Tuesday, which he coordinated with Israeli Foreign Minister Yair Lapid.

Erdan said Israel views Ben and Jerry’s decision as "the de-facto adoption of antisemitic practices." Lapid made similar comments on Twitter. "Ben & Jerry’s decision represents shameful surrender to antisemitism, to BDS and to all that is wrong with the anti-Israel and anti-Jewish discourse," the foreign minister wrote on Monday.

Lapid also vowed to contact US governors in states with anti-BDS laws. "Over 30 states in the United States have passed anti-BDS legislation in recent years. I plan on asking each of them to enforce these laws against Ben & Jerry’s. They will not treat the State of Israel like this without a response," he said.

The anti-BDS laws, which Israeli officials lobbied states to pass, deny state funds to those who advocate for the boycott of Israel and require state contractors to sign oaths pledging not to boycott the Jewish state. The laws are a clear violation of the First Amendment and are always ruled unconstitutional when brought to court.

Vermont, the state Ben and Jerry’s is based in, does not have anti-BDS laws on the books. It’s not clear how other states’ anti-BDS laws could affect Ben & Jerry’s, but Israeli officials are exploring other ways to go after the ice cream company.

Israeli Prime Minister Naftali Bennett spoke with the head of Unilever, a consumer goods company of which Ben & Jerry’s is a subsidiary. According to a statement from Bennett’s office, the Israeli leader told Unilever CEO Alan Jope that Ben & Jerry’s decision will have "severe consequences" and said Israel will take "strong action."

The US State Department on Tuesday reaffirmed that the Biden administration is against the BDS movement, but declined to comment on Ben & Jerry’s decision. "I don’t have a reaction to offer regarding the actions of a private company. More broadly what I would say is that we firmly reject the BDS movement, which unfairly singles out Israel," State Department spokesman Ned Price told reporters.

Disclosure: Antiwar.com has received donations in the past from Ben Cohen, the co-founder of Ben & Jerry’s

Tyler Durden Wed, 07/21/2021 - 20:00
Published:7/21/2021 7:04:51 PM
[] Lego Tactical Assault Squad Cafe: Quokka Family Photography Edition Two huskies and a cat decide they want to co-parent their new (human) sibling. Then they get a new puppy. Stray dog who had never been inside before is scared by doors and stairs and can't cross them, but... Published:7/21/2021 7:04:51 PM
[Biden Administration] Biden Admin Backs Iranian Protesters Amid Regime Crackdown

Even as it negotiates a new nuclear deal with Iran, the Biden administration is rallying behind Iranian protesters who have clashed with the hardline government’s security forces in recent days.

The post Biden Admin Backs Iranian Protesters Amid Regime Crackdown appeared first on Washington Free Beacon.

Published:7/21/2021 6:34:10 PM
[Entertainment] Khloe Kardashian Shows Off Her New Neon Makeover By True Thompson & Cousin Crew Khloe Kardashian, True Thompson, InstagramNow, this is a must-see makeover! Khloe Kardashian raved that her makeup team "killed it" as she debuted a new neon-hued look via Instagram Stories on July 21...but her cosmetic...
Published:7/21/2021 6:34:10 PM
[Politics] UNPROVOKED? Man SNEAKS up behind 60-year-old woman in NYC subway station and PUNCHES her. Police are looking for help identifying a suspect caught on camera sneaking up behind an 60-year-old woman and brutally punching her. Sucker-punched, the police say. “Unprovoked” or “random” say news stories and . . . Published:7/21/2021 6:34:10 PM
[Markets] Democrat Who Featured In Infamous 'Maskless Flight' Pic Calls For "Universal Mask-Wearing" Democrat Who Featured In Infamous 'Maskless Flight' Pic Calls For "Universal Mask-Wearing"

Authored by Paul Joseph Watson via Summit News,

Democrat Texas state Rep. Donna Howard, who appeared in the now infamous photo of maskless Dem lawmakers on a private jet, faced ridicule after she called for “universal mask-wearing.”

Howard was one of 60 Texas Democrats who boarded a jet to Washington, D.C., to skip out on a vote on Texas’ election reform bill. A photo of the plane cabin shows Howard and several other passengers not wearing masks.

Following the trip, where they met with U.S. officials, Howard along with 5 of her colleagues tested positive for COVID-19.

She subsequently tried to deflect criticism by remarking, “TSA exempts private, non-commercial flights from the mask requirement.”

“Unfortunately, the spike in infections from the delta variant became apparent immediately after our flight,” Howard continued.

“Had we known at the time, we would have worn masks.”

Now Howard is facing more mockery after she vehemently called for schoolchildren to be forced to wear masks in class.

“We need to follow the science here,” tweeted Howard. Texas needs to change course and allow for universal mask-wearing to prevent spread of the highly contagious delta variant, esp as children under 12 cannot get vaccinated yet.”

Apparently, Howard is really keen for kids to wear masks but not too bothered about covering her own face, even in close proximity to numerous other people inside a confined space.

“It’s OK when we do it!”

As we previously highlighted, Dr. Anthony Fauci wrote in a February 2020 that a typical store-bought face mask “is not really effective in keeping out virus, which is small enough to pass through material.”

His sentiment was echoed earlier this week by Dr Colin Axon, a SAGE advisor for the UK government, who told the London Telegraph that medics have given people a “cartoonish” view of how how microscopic viruses travel through the air, and the masks have gaps in them that are up to 5000 times bigger than COVID particles.

“The small sizes are not easily understood but an imperfect analogy would be to imagine marbles fired at builders’ scaffolding, some might hit a pole and rebound, but obviously most will fly through,” Axon said.

*  *  *

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Tyler Durden Wed, 07/21/2021 - 19:20
Published:7/21/2021 6:34:10 PM
[8075dae7-9563-5ba1-9eee-e363522223b0] Dwayne 'The Rock' Johnson says he 'laughed hard' at Vin Diesel’s 'tough love' comments regarding their feud Dwayne "The Rock" Johnson confirmed he will not be appearing in any new "Fast & Furious" movies while responding to comments made by his former co-star Vin Diesel. Published:7/21/2021 6:34:10 PM
[TC] Daily Crunch: India’s most valuable startup buys US-based digital reading platform Epic for $500M Hello friends and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package. Published:7/21/2021 6:08:16 PM
[6d6c7d2b-f93e-5e99-a41e-59f63207c6c5] Kate Middleton, Prince William celebrate Prince George's birthday early with sweet new photo: 'Turning eight' Kate Middleton and Prince William have shared a new photo of their son Prince George ahead of his eighth birthday. Published:7/21/2021 6:08:16 PM
[Markets] Rockets Target Kabul Presidential Palace As US Afghan Draw Down Enters Final Days Rockets Target Kabul Presidential Palace As US Afghan Draw Down Enters Final Days

Amid the US troop exit which is set to be 'complete' by August 31, based on Biden's previously expressed timetable for withdrawal, Afghanistan's presidential palace is already coming under rocket fire in what could be the early beginnings of a near-future Kabul offensive.

"At least three rockets hit near the presidential palace on Tuesday shortly before Afghan President Ashraf Ghani was to give an address to mark the major Muslim holiday of Eid al-Adha," The Associated Press reports. Later the Islamic State claimed responsibility for the attack through one of its regional propaganda channels.

A vehicle near the scene was completely destroyed, and despite there being no reported injuries, Afghan police are alarmed at how deeply inside a secured part of the city the attackers reached. "The palace is in the middle of a so-called Green Zone that is fortified with giant cement blast walls and barbed wire, and streets near the palace have long been closed off," AP notes.

Near the site of attack, via AP

There's long been concern that the Taliban could soon be close enough to Kabul to initiate an offensive on the capital. US intelligence previously predicted that the national government could collapse, with Kabul potentially overrun within six months of the US forces withdrawal.

Earlier this month President Biden declared with US troop exit more than 95% complete, but at the same time the Taliban has gobbled up territory at lighting pace. Referencing the ongoing onslaught in various parts of the country, Afghan President Ashraf Ghani said during a speech marking a major Muslim holiday: "The Taliban have no intention and willingness for peace." He said further, "We have proven that we have the intention, the willingness and have sacrificed for peace."

On Wednesday Gen. Mark Milley, chair of the Joint Chiefs of Staff, held out hope that Afghan forces will eventually push back the Taliban. Speaking at a Pentagon press briefing, he said, "I don’t think the end game is yet written," and specified that "A negative outcome, a Taliban automatic takeover, is not a foregone conclusion."

He suggested that large gains in terms of physical territory taken does not equate to holding high population areas. His remarks struck a rare tone of optimist, as Politico relates of his words:

Milley defended the strategy of the Afghan national security forces, who he said are consolidating to protect the major population centers, where most Afghan civilians are located.

He contested the narrative that "the Taliban is winning," saying the group is "propagating an inevitable victory" and "dominating the airwaves."

While "strategic momentum appears to be with the Taliban" right now, a lot could happen over the rest of the summer", Milley said.

"We're going to find out, the levels of violence, does it go up, does it stay the same, there's the possibility of negotiated outcome still out there, there's the possibility of a Taliban takeover [and] any other number of scenarios," Milley said.

But the fact that insurgents are landing missiles in or near the high-secure Afghan presidential complex in Kabul doesn't bode well for the near future. 

The US is keeping some 650 security personnel in Kabul to protect the sprawling US embassy, but the question of air support to Afghan national forces who come under Taliban attack still remains an unsettled question.

Tyler Durden Wed, 07/21/2021 - 19:00
Published:7/21/2021 6:08:16 PM
[Uncategorized] McCarthy: We Will ‘Run Our Own Investigation’ Into Capitol Riot After Pelosi Dropped GOP Reps

"Unless Speaker Pelosi reverses course and seats all five Republican nominees, Republicans will not be party to their sham process and will instead pursue our own investigation of the facts."

The post McCarthy: We Will ‘Run Our Own Investigation’ Into Capitol Riot After Pelosi Dropped GOP Reps first appeared on Le·gal In·sur·rec·tion.
Published:7/21/2021 6:08:16 PM
[Entertainment] John McMeel, newspaper syndicator who brought ‘Doonesbury’ to millions of readers, dies at 85 With his business partner, Jim Andrews, he distributed cartoons including “Calvin and Hobbes,” “The Far Side” and “Cathy” and columnists including Abigail Van Buren and Garry Wills. Published:7/21/2021 6:08:16 PM
[] Quick Hits: Pinkhaired Nosering Weirdo US Women's National Soccer Team Takes a Knee-- and Then Takes an L Speaking of Asian fish, Noted Farting Enthusiast and Fang-Banger Eric Swallwell spent $20,000 of campaign funds on booze and hotel rooms. Congressman Eric Swalwell, 40, who was caught in a 'honeytrap with Chinese spy Fang Fang', spent $20K in... Published:7/21/2021 6:08:16 PM
[Politics] Biden's Pipeline To Nowhere: It'll Build Back Russia Better In a major policy blunder, Team Biden is formally giving an okay to the Russian pipeline's last hundred miles and in so doing creates a major security threat to all of Europe and underscores the damage they have already inflicted on the American oil and gas industry. An incredible blunder. Biden people have tried to justify the error on grounds that it would help their relationship with Germany and seek closer ties with the rest of Europe. I want to report to you that the rest of Europe opposes... Published:7/21/2021 6:08:16 PM
[] SIREN: Thirty-one former chiefs of staff to Democratic senators call for repeal or reform of the filibuster Published:7/21/2021 5:34:31 PM
[9a1f6d6f-f411-5478-87ca-48053e044a36] Courtney Stodden says Chrissy Teigen should help anti-bullying efforts instead of griping about 'cancel club' The model and reality star, 26, who identifies as non-binary and uses they/them pronouns, maintains that Teigen, 35, never reached out to them despite what the former Sports Illustrated Swimsuit model said on Tuesday while speaking out about her current position in the "cancel club." Published:7/21/2021 5:34:31 PM
[Entertainment] Halsey Will No Longer Do Press After Being "Deliberately Disrespected" in Interview HalseyDon't expect Halsey to be appearing in interviews anytime soon. The new mom, who goes by she/they pronouns, firmly stated they will no longer work with the press after having a bad...
Published:7/21/2021 5:34:31 PM
[Automotive] Rivian plans to install EV chargers in Tennessee’s 56 state parks Rivian electric vehicle charging stations are coming to yet another state park system. The EV startup said it would install its so-called “waypoint” chargers at all of Tennessee’s 56 state parks, just four months after announcing a similar agreement with the state of Colorado. It’s the next step in Rivian’s plans to build out its […] Published:7/21/2021 5:34:31 PM
[Markets] Earnings Results: Verizon tops earnings expectations as promotions help drive 5G upgrades Verizon Communications Inc. topped second-quarter earnings and revenue expectations Wednesday as more consumers moved to get 5G phones and unlimited plans.
Published:7/21/2021 5:34:30 PM
[Markets] Stock market news live updates: Futures gain after 2 day rally, eyes on jobless claims Stocks are looking to extend a 2-day win streak that erased losses sustained during 2021's worst trading day. Published:7/21/2021 5:34:30 PM
[Markets] Evergrande's Liquidity Crisis Becomes Ever Grander Evergrande's Liquidity Crisis Becomes Ever Grander

Evergrande's existential challenges are becoming ever grander by the day.

While we have long profiled the growing troubles facing China's largest and the world's most indebted property developer, which at the end of 2020 boasted more than $300 billion in total liabilities and which has tried to quell mounting concerns over its financial health since May -  the melting ice cube that is Evergrande (which just one year ago vowed it would magically pivot into electric cars and would become China's "Largest, Most Powerful" EV maker in a few years) had a close encounter with a blowtorch earlier this week when as we noted, the company's shares crashed below liquidation level (i.e., the value of its standalone assets), trading at just 62% of book value following Monday’s plunge, the lowest ever value.

Meanwhile, its Hong Kong-traded shares which trade under the (not so) lucky ticker 3333.HK, have lost more than half their value from YTD highs, The wide deviation from its market value suggests shareholders are pricing in a significant decline in the assets’ earnings power. In terms of dollar amounts, its shares have lost $15 billion in value since this year’s January high.

As we noted a few days ago, the collapse in the valuation of the shares is a problem for a heavily indebted company with narrowing options for raising funds. It’s not just its own shares: subsidiary Evergrande Property Services has lost about $17 billion in value since its February high, while Evergrande New Energy Vehicle is down more than $60 billion in the period. Evergrande controls more than 60% of both firms. The value of Hengten Networks - a Hong Kong-listed internet services provider in which Evergrande has a 38% stake - has dropped about $15 billion.

Some of its affiliates missed payments earlier this year, and Caixin said authorities are probing Evergrande founder Hui Ka Yan's relationship with Shengjing Bank. Evergrande holds a 36% stake in the bank, and Caixin said the bank lent up to $20 billion to Evergrande via direct and indirect channels.

The reason why the company has been hammered is simple: as a result of Beijing's strict deleveraging demands targeting the housing developer sector (hoping to prevent a housing bubble), Evergrande's cash has been shrinking fast, and it's getting worse by the day as the company has entered a classical liquidity run (amid ongoing confusion whether Beijing will bail out the company in a worst case scenario).

After the shares plunged 16% on Monday a Chinese court froze a $20 million bank deposit, a city in Hunan province halted sales at two of the company’s residential projects, alleging the developer didn’t properly handle funds. The suspension will last until Oct. 13 and Evergrande can’t use funds currently deposited in supervised bank accounts, according to a statement. 

To raise the funds, Evergrande has resorted to heavy discounts on its newly built properties to boost sales. In addition, between March and December 2020, the company raised almost $11.5 billion by selling its own equity as well as stakes in its property services, electric vehicle and other units. In March, Evergrande raised $2.1 billion from the sale of a 10% stake in its online home and car sales unit ahead of a planned listing. Last month, the company agreed to sell holdings worth $570 million in its internet unit HengTen Networks and $386 million in property unit China Calxon Group.

Things went from bad to worse on Wednesday, when four of Hong Kong's top banks - HSBC Holdings Plc, Bank of China’s Hong Kong unit, Standard Chartered and Bank of East Asia - stopped providing mortgages to buyers of China Evergrande Group’s unfinished residential properties in Hong Kong, the latest sign of dwindling confidence in the developer’s financial strength.

The mortgage halt “could be a fresh sign banks are protecting themselves as they’re increasingly worried about Evergrande,” Bloomberg Intelligence analysts Daniel Fan and William Hau wrote in a note on Wednesday. The development may push Evergrande toward more “radical action,” such as selling a stake in itself to a state-owned Chinese company or pursuing more wide-ranging asset sales, the analysts wrote.

Evergrande, in a statement, glossed over the dismal development, saying that projects in Hong Kong are progressing as "originally planned."

"There are still other banks maintaining a positive attitude towards mortgages on uncompleted properties, so the impact is believed to be relatively mild," the company said, adding that it would consider letting buyers delay transactions by 60 days if they are impacted.

The report sparked fresh worries over the company's ability to pull off a plan to cut debt by half before the end of 2022.  Under its turnaround plan dubbed "high growth, scale control and debt reduction,'' Evergrande cut total borrowings to 716.5 billion yuan ($110 billion) by the end of last year from a peak of 875 billion yuan in March 2020, according to the developer's annual report. It targets a further cut of 150 billion yuan this year.

As Bloomberg notes, the unusual move by the four Hong Kong mortgage lenders to act in unison underscores how dramatically perceptions of Evergrande have deteriorated in recent weeks. And it's not just the company's stock that is getting hammered: the company’s 2025 dollar note sank by about 6 cents on Wednesday to 49 cents on the dollar, an all time low, and suggesting investors are bracing for a potential default absent a Beijing bailout of course.

An uncontrolled default by Evergrande - one where Beijing does not step in - would likely catastrophic repercussions for China’s financial system, eroding confidence in other highly leveraged property companies, shadow lenders and potentially even some banks, which is why Beijing will never allow it. Still, the status quo is unlikely to persist  - officials from China’s top financial regulator told Evergrande founder Hui Ka Yan at the end of June that he should solve his company’s debt problems as quickly as possible, emphasizing the need to avoid major economic shocks.

Tyler Durden Wed, 07/21/2021 - 18:20
Published:7/21/2021 5:34:30 PM
[] D.C. Mayor Painted 'Black Lives Matter' on the Streets, But She Erased 'Cuba Libre' Published:7/21/2021 5:03:59 PM
[Politics] Biden’s Wild Murder and Jim Crow Accusations

Liberals boasted that the election of Joe Biden meant a return to sober, restrained presidential rhetoric and an end to unhinged mean tweets. Biden wouldn’t... Read More

The post Biden’s Wild Murder and Jim Crow Accusations appeared first on The Daily Signal.

Published:7/21/2021 5:03:59 PM
[24df05ab-8fa3-5bc9-adbb-63d972ef4e5b] Paulina Porizkova poses topless after breakup with Aaron Sorkin The 56-year-old supermodel posed topless on social media with her friend and actress Liz Carey. Published:7/21/2021 5:03:59 PM
[Entertainment] Go Inside Your Favorite Celebrities' Homes in First Trailer for MTV's Cribs Revival Scott Disick, Cribs, MTV,Welcome to their crib! On Wednesday, July 21, MTV released the first trailer for the revival of their hit tour series, Cribs, which returns August 11. In the first look, notable stars,...
Published:7/21/2021 5:03:59 PM
[2021 News] Larry Elder WINS. Judge rules CA was full of it, orders he be put BACK on ballot!

Larry Elder WINS. Judge rules CA was full of it, orders he be put BACK on ballot! Yet another nefarious Gavin Newsom plan to cheat, foiled by an honest judge. (Yes, there’s still a few around). Victory! My next one will be on Sept. 14 at the ballot box. https://t.co/mnvU6s5Wid#RecallGavinNewsom #WeveGotAStateToSave pic.twitter.com/qI2X3IBSHw — Larry Elder […]

The post Larry Elder WINS. Judge rules CA was full of it, orders he be put BACK on ballot! appeared first on IHTM.

Published:7/21/2021 5:03:59 PM
[Markets] What's Worth Streaming: Here’s what’s coming to Netflix in August 2021 — and what’s leaving It's another busy month, with '30 Rock' and 'Friday Night Lights,' the teen rom-coms 'The Kissing Booth 3' and 'He's All That,' the return of Marie Kondo and much more
Published:7/21/2021 5:03:59 PM
[Markets] National Park Service To Send Data Collected From Special Use Permits To White House National Park Service To Send Data Collected From Special Use Permits To White House

Authored by Aaron Boyd via Nextgov (emphasis ours),

he National Park Service is making it easier to share more data with the White House and other federal agencies on applications and approvals of special use permits for parks spaces.

The updates—outlined in a notice set to publish Wednesday in the Federal Registerwould streamline the process for sharing data with the Executive Office of the President and allow NPS to share data with other agencies and entities suffering a cybersecurity breach when deemed “reasonably necessary” for helping respond to the incident.

The Park Service oversees 423 parks across the U.S., ranging from traditional, large conserved open spaces like Yosemite National Park all the way to small squares and triangles in roadways around Capitol Hill in D.C.

People interested in using a park for a specific purpose at a specific time generally have to obtain a special use permit. NPS issues permits for three types of uses: standard events like weddings, sports, picnics and family gatherings; special events like demonstrations, races, tournaments and the like; and construction, research and utility work.

When users apply for such permits, the system collects a wealth of data needed to process the application, including:

  • Name, organization, Social Security number, Tax Identification Number, date of birth, address, telephone number, fax number, email address, person’s position title.
  • Information of proposed activity including park alpha code, permit number, date, location, number of participants and vehicles, type of use, equipment, support personnel for the activity, company, project name and type, fees, liability insurance information.
  • Payment information including amounts paid, credit card number, credit card expiration date, check number, money order number, bank or financial institution, account number, payment reference number and tracking ID number.
  • Information on special activities including number of minors, livestock, aircraft type, special effects, special effect technician’s license and permit number, stunts, unusual or hazardous activities.
  • Information on driver’s license including number, state and expiration date.
  • Vehicle information including year, make, color, weight, plate number and insurance information.

The latest update proposes revising the system of records notice with some technical changes and expanding the federal entities with which that data can be shared.

The update adds “two new routine uses to facilitate sharing with the Executive Office of the President to resolve issues upon request of the subject of the record and with other federal agencies or entities to respond to a breach of personally identifiable information.”

The proposal to enable sharing with the Executive Office of the President appears to be limited to requests made by the applicant or someone on their behalf, with some additional leeway.

The information noted above could be shared with the White House “in response to an inquiry from that office made at the request of the subject of a record or a third party on that person’s behalf, or for a purpose compatible with the reason for which the records are collected or maintained,” the Federal Register notice states.

The update also modifies an approved sharing and adds another around data breach response. The modification allows NPS to share information about a breach of this system with other appropriate agencies—such as the Cybersecurity and Infrastructure Security Agency—to “respond to the suspected or confirmed breach or to prevent, minimize, or remedy such harm.”

The new addition would enlist NPS and special use permit data in assisting other agencies responding to a confirmed or suspected breach when such data would help with the investigation. Before sharing the data, the Interior Department must first determine “that information from this system of records is reasonably necessary to assist the recipient agency or entity.”

NPS already shares special permit use data with some federal agencies, including the Justice Department and members of Congress. The update expands the conditions under which such sharing is allowed, along with the new additions.

Tyler Durden Wed, 07/21/2021 - 18:00
Published:7/21/2021 5:03:59 PM
[] Texas Fleebagger Pronounces Herself "Brave," Then Announces Her Intent to Run for US Congress Leftwing women demand validation at all times -- and if no one's willing to validate them, they'll validate themselves. They're so stronk and empowered they wither if they don't hear a (coerced) compliment about how stronk and empowered they are... Published:7/21/2021 5:03:58 PM
[Democrats] Illinois Dem Admits to Bribing Prospective Opponent

Democratic congresswoman Marie Newman (Ill.) acknowledged in court that she promised a six-figure job to a would-be political rival—an apparent bribe that may violate federal law.

The post Illinois Dem Admits to Bribing Prospective Opponent appeared first on Washington Free Beacon.

Published:7/21/2021 4:34:28 PM
[Politics] Biden takes his pitch for infrastructure spending on the road and into prime time

President Biden was headed to Cincinnati to promote his infrastructure plans at a union hall and a CNN town hall, amid bipartisan talks at the Capitol.

Published:7/21/2021 4:34:28 PM
[7afd1868-eeea-51ac-b760-c490b2d5cb25] Miley Cyrus poses on dad Billy Ray's truck in NSFW shirt, heels: Don’t know which he’ll 'be more pissed about' The singer used Billy Ray Cyrus' truck as part of a photo shoot. Published:7/21/2021 4:34:28 PM
[Entertainment] Turn Up the Heat With Maluma's Quay Collection E-comm: Maluma x QuayWe independently selected these products because we love them, and we hope you do too. Shop with E! has affiliate relationships, so we may get a commission if you purchase something through our...
Published:7/21/2021 4:34:28 PM
[Markets] The Tell: Think this is a ‘weird market’ right now? Here’s more proof To market veterans, talk of a stock-market “bottom” after a mere 3% pullback sounds odd, but that's the sort of world investors live in right now, says one chart watcher.
Published:7/21/2021 4:34:28 PM
[Markets] Paying Your "Fair Share" Of The Warfare-Welfare State Paying Your "Fair Share" Of The Warfare-Welfare State

Authored by Brian McGlinchey via Stark Realities,

A recurring theme in national tax debates is the idea that everyone should pay their "fair share" of taxes. While that aspiration’s validity is widely taken for granted, the stark reality is there’s no such thing as a "fair share" of federal taxes.

To understand why, let’s first scrutinize what’s meant by "fair." When paired with "share," the most fitting definition is "reasonable, right and just." If the United States government were limited to its only morally sound function—protecting rights, liberties and lives—perhaps one could entertain the theoretical notion of a "reasonable, right and just" share of the cost.

However, that ideal is far from today’s grim reality, as tax revenue is used to assault rights, liberties and lives of Americans and people around the world—to say nothing of the sprawling waste and cronyism associated with a 2021 budget of $6.8 trillion.

So tell me:

  • What exactly is my "fair share" of the Office of Foreign Assets Control (OFAC), which enforces economic sanctions that purposefully inflict suffering on innocent civilians in foreign lands?

  • What’s my fair share of the tyrannical practice of civil asset forfeiture, in which cash and other property is seized from citizens without any requirement to file charges?

  • What’s my fair share of the $1.2 trillion allocated in 2021 for the unconstitutional Departments of Housing and Urban Development, Labor, Education and Transportation, and Small Business Administration?

  • What’s my fair share of the cages in which the government confines people for choosing to intoxicate themselves with a plant or a powder rather than a bottle?

  • What’s my fair share of the several trillion dollars spent on the overwhelmingly pointless war in Afghanistan or the even more catastrophic invasion and occupation of Iraq?

  • What’s my fair share of so-called "Covid relief" money used to bail out fiscally irresponsible state and local governments and pay unemployed people more than they were making on the job?

  • What’s my fair share of the jaw-dropping $81 million the CIA paid to two depraved psychologists who crafted the agency’s immoral and ineffective post-9/11 torture program?

  • What’s my fair share of the unjust prosecution of journalist Julian Assange for publishing documents that revealed wrongdoing and embarrassed powerful politicians?

  • What’s my fair share of the $3.8 billion handed over to the Israeli government this year—with every one of those dollars violating a U.S. law?

  • What’s my fair share of the $1.6 trillion cost of the snakebit, contractor-enriching F-35 fighter jet program—which the Pentagon already wants to replace with something else?

  • What’s my fair share of the ongoing salary of the U.S. Central Command’s General Kenneth F. McKenzie, who betrayed his oath to the Constitution by carrying out President Biden’s unlawful orders to bomb Syria?

  • What’s my fair share of $1.5 million spent encouraging eastern Mediterranean youth to stop smoking hookah?

Anticipating objections, please note that the moral standing of federal income taxation isn’t buttressed by whatever few authorized, proper, efficient and beneficial undertakings it finances.

Let’s say your homeowners association does a fine job providing basic services and maintaining common facilities, and you contentedly pay your annual "fair share" of $2,500.

However, the HOA then announces it will:

  • Spend $80,000 to impose unemployment, malnutrition and the degradation of medical services in a neighborhood across town

  • Give a contractor friend of the HOA president $200,000 to do $50,000 worth of sidewalk work

  • Pay two men $90,000 a year to torture suspected car burglars and vandals

Shrugging off your objections that the proposed new undertakings are immoral, corrupt, wasteful and unauthorized by the HOA bylaws, the board informs you that—using the same allocation method as before—your dues have doubled to $5,000.

"You may not like everything we’re doing now," they say, "but don’t forget—some of the money goes to plow snow and maintain the swimming pool. You benefit from that."

Given how half the money will be used, do you think one can rationally insist it’s only "fair" that you pay the $5,000?

For the record—and the benefit of our government monitors—I pay every dollar demanded by the federal tax code. I pay not because it’s the right thing to do, but because it’s the coerced thing to do. And if the lawless, immoral HOA threatened to lock you in the clubhouse basement if you didn’t fork over the $5,000, I’m sure you’d pay them too.

But, like me, you’d thoroughly reject the idea that there can be anything "fair"—that is, reasonable, right and just—about your share of the coerced funding of unlawful, wasteful and morally repugnant pursuits.

Tyler Durden Wed, 07/21/2021 - 17:20
Published:7/21/2021 4:34:28 PM
[Higher education] Poll: College students overwhelmingly favor race-blind admissions (Paul Mirengoff) The youth of America may not be as clueless as the more pessimistic among us suppose. According to a new survey by College Pulse, 67 percent of college students strongly support “race blind” admissions. Another 18 percent “somewhat support” such admissions. This leaves only 15 percent who oppose race blind admissions. Of that group, only 5 percent strongly oppose them. The survey defines race blind admissions as meaning that “colleges Published:7/21/2021 4:34:28 PM
[Law] The Left’s Attempted Election Takeover

Politicians in Washington are trying to impose a federal takeover of elections and force changes to state laws that would allow for greater fraud and... Read More

The post The Left’s Attempted Election Takeover appeared first on The Daily Signal.

Published:7/21/2021 4:34:28 PM
[Markets] Dow Jones Futures: Stock Market Rally Still Lacks This; Bitcoin Rebounds, Square, Tesla-Rival Li Auto Flash Buy Signs A broad market rebound continued, but on lighter volume. Bitcoin bounced. Square and Tesla rival Li Auto flashed buy signs. Published:7/21/2021 4:34:28 PM
[Politics] BREAKING: Larry Elder WINS. Judge rules California’s weak attempt to CANCEL him is over, orders him BACK on ballot! California tried to cancel Larry Elder from running in the California recall election. As one of his attorneys, Harmeet K. Dhillon, explained on Twitter, they had no grounds to do it. As . . . Published:7/21/2021 4:34:28 PM
[Politics] The Coming War Powers Debate It's nice to see Congress starting to think about reclaiming the foreign policy powers granted to it in the Constitution. That's the point of a new bill just introduced by a Socialist, Bernie Sanders, a Democrat, Chris Murphy, and a Republican, Mike Lee, one of the Senate's most distinguished constitutionalists. It's an effort by Congress to claw back powers from the presidents. These words of welcome might seem out-of-sync, given that in recent decades the right-of-center faction in America... Published:7/21/2021 4:34:28 PM
[] Court Strikes Down Calif. Law Mandating Transgender Pronouns Published:7/21/2021 4:03:33 PM
[] DC Mayor Muriel Bowser outlaws menthol cigarettes, says they have a 'particularly insidious effect' on the black community Published:7/21/2021 4:03:33 PM
[0cdcb923-f55b-50b4-9565-e64bc4f5cb85] Leo Terrell: Texas Democrat's slavery comments over DC trip are wrong and deeply insulting Texas State Rep. Sefronia Thompson and her fellow Democratic legislative cohorts have compared the Texas delegation that fled to Washington, D.C. last week to slaves who are fleeing persecution, only to get arrested by their masters and forced back home to the Texan plantation. Published:7/21/2021 4:03:32 PM
[Entertainment] See Saint & Psalm West Adorably Crash Mom Kim Kardashian's Workout Sesh Psalm West, North West, Saint West, Chicago West, Kim Kardashian, Psalm West's 2nd Birthday Party, KUWTKA mother-son Wednesday workout! Kim Kardashian's fitness routine was adorably crashed by sons Saint West and Psalm West on Wednesday, July 21. "Little visitors in the gym...
Published:7/21/2021 4:03:32 PM
[Markets] The Fallacy Of Climate Financial Risk The Fallacy Of Climate Financial Risk

Authored by John Cochrane via Project Syndicate,

The idea that climate change poses a threat to the financial system is absurd, not least because everyone already knows that global warming is happening and that fossil fuels are being phased out. The new push for climate-related financial regulation is not really about risk; it is about a political agenda.

In the United States, the Federal Reserve, the Securities and Exchange Commission, and the Department of the Treasury are gearing up to incorporate climate policy into US financial regulation, following even more audacious steps in Europe. The justification is that “climate risk” poses a danger to the financial system. But that statement is absurd. Financial regulation is being used to smuggle in climate policies that otherwise would be rejected as unpopular or ineffective.

“Climate” means the probability distribution of the weather – the range of potential weather conditions and events, together with their associated probabilities. “Risk” means the unexpected, not changes that everyone knows are underway. And “systemic financial risk” means the possibility that the entire financial system will melt down, as nearly happened in 2008. It does not mean that someone somewhere might lose money because some asset price falls, though central bankers are swiftly enlarging their purview in that direction.

In plain language, then, a “climate risk to the financial system” means a sudden, unexpected, large, and widespread change in the probability distribution of the weather, sufficient to cause losses that blow through equity and long-term debt cushions, provoking a system-wide run on short-term debt. This means the five- or at most ten-year horizon over which regulators can begin to assess the risks on financial institutions’ balance sheets. Loans for 2100 have not been made yet.

Such an event lies outside any climate science. Hurricanes, heat waves, droughts, and fires have never come close to causing systemic financial crises, and there is no scientifically validated possibility that their frequency and severity will change so drastically to alter this fact in the next ten years. Our modern, diversified, industrialized, service-oriented economy is not that affected by weather – even by headline-making events. Businesses and people are still moving from the cold Rust Belt to hot and hurricane-prone Texas and Florida.

If regulators are worried even-handedly about out-of-the-box risks that endanger the financial system, the list should include wars, pandemics, cyberattacks, sovereign-debt crises, political meltdowns, and even asteroid strikes. All but the latter are more likely than climate risk. And if we are worried about flood and fire costs, perhaps we should stop subsidizing building and rebuilding in flood and fire-prone areas.

Climate regulatory risk is slightly more plausible. Environmental regulators could turn out to be so incompetent that they damage the economy to the point of creating a systemic run. But that scenario seems far-fetched even to me. Again though, if the question is regulatory risk, then even-handed regulators should demand a wider recognition of all political and regulatory risks. Between the Biden administration’s novel interpretations of antitrust law, the previous administration’s trade policies, and the pervasive political desire to “break up big tech,” there is no shortage of regulatory danger.

To be sure, it is not impossible that some terrible climate-related event in the next ten years can provoke a systemic run, though nothing in current science or economics describes such an event. But if that is the fear, the only logical way to protect the financial system is by dramatically raising the amount of equity capital, which protects the financial system against any kind of risk. Risk measurement and technocratic regulation of climate investments, by definition, cannot protect against unknown unknowns or un-modeled “tipping points.”

What about “transition risks” and “stranded assets?” Won’t oil and coal companies lose value in the shift to low-carbon energy? Indeed they will. But everyone already knows that. Oil and gas companies will lose more value only if the transition comes faster than expected. And legacy fossil-fuel assets are not funded by short-term debt, as mortgages were in 2008, so losses by their stockholders and bondholders do not imperil the financial system. “Financial stability” does not mean that no investor ever loses money.

Moreover, fossil fuels have always been risky. Oil prices turned negative last year, with no broader financial consequences. Coal and its stockholders have already been hammered by climate regulation, with not a hint of financial crisis.  

More broadly, in the history of technological transitions, financial problems have never come from declining industries. The stock-market crash of 2000 was not caused by losses in the typewriter, film, telegraph, and slide-rule industries. It was the slightly-ahead-of-their-time tech companies that went bust. Similarly, the stock-market crash of 1929 was not caused by plummeting demand for horse-drawn carriages. It was the new radio, movie, automobile, and electric appliance industries that collapsed.

If one is worried about the financial risks associated with the energy transition, new astronomically-valued darlings such as Tesla are the danger. The biggest financial danger is a green bubble, fueled as previous booms by government subsidies and central-bank encouragement. Today’s high-fliers are vulnerable to changing political whims and new and better technologies. If regulatory credits dry up or if hydrogen fuel cells displace batteries, Tesla is in trouble. Yet our regulators wish only to encourage investors to pile on.

Climate financial regulation is an answer in search of a question. The point is to impose a specific set of policies that cannot pass via regular democratic lawmaking or regular environmental rulemaking, which requires at least a pretense of cost-benefit analysis.

These policies include defunding fossil fuels before replacements are in place, and subsidizing battery-powered electric cars, trains, windmills, and photovoltaics – but not nuclear, carbon capture, hydrogen, natural gas, geoengineering, or other promising technologies. But, because financial regulators are not allowed to decide where investment should go and what should be starved of funds, “climate risk to the financial system” is dreamed up and repeated until people believe it, in order to shoehorn these climate policies into financial regulators’ limited legal mandates.

Climate change and financial stability are pressing problems. They require coherent, intelligent, scientifically valid policy responses, and promptly. But climate financial regulation will not help the climate, will further politicize central banks, and will destroy their precious independence, while forcing financial companies to devise absurdly fictitious climate-risk assessments will ruin financial regulation. The next crisis will come from some other source. And our climate-obsessed regulators will once again fail utterly to anticipate it – just as a decade’s worth of stress testers never considered the possibility of a pandemic.

Tyler Durden Wed, 07/21/2021 - 16:40
Published:7/21/2021 4:03:32 PM
[Markets] Dow Jones Regains Another 286 Points After Monday Sell-Off; Netflix Stock, Coca-Cola Move On Earnings The Dow Jones Industrial Average rebounded further in today's market after an intense sell-off Monday that cost the index nearly 900 points. Published:7/21/2021 4:03:32 PM
[National Security] Nomination Delays Spur Pentagon Personnel Crisis

More than two dozen vital leadership positions at the Pentagon remain without appointees from President Joe Biden, a historic delay that could threaten national security, according to experts.

The post Nomination Delays Spur Pentagon Personnel Crisis appeared first on Washington Free Beacon.

Published:7/21/2021 4:03:32 PM
[7ea8effe-b286-5f6a-a7ab-c40ab7496cd1] Heather Graham poses in animal print bikini as she takes in 'the color of the water' during Italian getaway Heather Graham showed off an animal print bikini during her Italian getaway. "The Hangover" star posed in the water in a photo shared on Instagram. Published:7/21/2021 4:03:32 PM
[Markets] The Wall Street Journal: Broken iPhone? Stalled tractor? FTC wants to make it easier to fix them The Federal Trade Commission said it wants to give consumers more power to fix devices such as smartphones and home appliances, voting to step up efforts targeting manufacturers if the agency determines repair restrictions are illegal.
Published:7/21/2021 4:03:32 PM
[Uncategorized] U.S. Women’s Soccer Takes a Protest Knee, Gets Trounced by Sweden

Maybe they should pay more attention to the game instead of protesting.

The post U.S. Women’s Soccer Takes a Protest Knee, Gets Trounced by Sweden first appeared on Le·gal In·sur·rec·tion.
Published:7/21/2021 4:03:32 PM
[] Joe Biden Used Secret Personal Account -- Hidden from FOIA Requests and Official Record Keeping, Just as Hillary Did -- to Send Government Documents to Hunter Biden At Just the News. In a communications backdoor reminiscent of Hillary Clinton's infamous private server, President Biden used a personal email account during the Obama years to send information he was getting from the State Department as vice president... Published:7/21/2021 4:03:32 PM
[Economy] How Congress Keeps Putting Us Further Into Debt

We’ve made it to our first pit stop, but let’s not forget: even the short trip to get here had its issues. Whether we make... Read More

The post How Congress Keeps Putting Us Further Into Debt appeared first on The Daily Signal.

Published:7/21/2021 3:33:22 PM
[Entertainment] The Terrifying True Story Behind Peacock's Dr. Death Joshua Jackson, Christopher Duntsch, Dr. DeathYou'd like to think that being able to trust your doctor is part of the deal. Especially if he's a neurosurgeon, and he's going to be cutting into your body with the promise of easing...
Published:7/21/2021 3:33:22 PM
[Markets] We’ve gone from a disastrous recession to a fast recovery to an expansion to a slowdown and call it a stabilization of growth: Strategist Brian Levitt, Invesco Global Market Strategist joined Yahoo Finance Live to break down the progression of the market recovery from COVID-19 and what the next phase will be.  Published:7/21/2021 3:33:22 PM
[Middle Column] John Kerry Says ‘Climate Crisis’ May Be Worse Than COVID Fallout, Begs China To Cut Emissions
Published:7/21/2021 3:33:22 PM
[Markets] Entering The Worst Seasonal Period Of The Year, And 10 Other Reasons Why Goldman Braces For An August Correction Entering The Worst Seasonal Period Of The Year, And 10 Other Reasons Why Goldman Braces For An August Correction

In a stark reversal to its bullish sentiment at the start of the month, when the bank first noted - correctly - that the S&P was entering its best 2-week seasonal period of the year which it did between July 1 and 15 when it posted a series of new all time highs (before dumping on the 16th and the 19th)...

... followed by a lengthy rationalization why "the shorts will have to cover", Goldman has been turning surprisingly bearish in recent days, and two days after Goldman flow trader John Flood urged Goldman clients "not to buy this dip" on Monday (spoiler alert: they did) his trading desk colleague Scott Rubner has published a report previewing why he anticipates a correction in the coming days and continuing through the Jackson Hole symposium at the end of August.

His note, from which we excerpt below, contains the key arguments behind Goldman's August "correction" thesis, including tactical flow of funds, an acceleration of sellers, and feedback from the GS equity trading floor.

So without further ado, here is Rubner, who lays out his "11 point checklist for an August correction", starting by noting that "the #1 question that has hit my inbox/IB in the past 48 hours. What happens to the equity market when there is an outflow and buy demand slows?" As we read below, the most appropriate answer is "nothing good."

11 point Checklist - Consensus client feedback for a quick equity risk reduction into potentially lower buy demand into Jackson hole. The consensus feedback seems to be calling for a -5% correction, which really gets to -4%. This is a recap of the talking points about to hit your inbox this week. I think this morning’s rally gets faded as buy tickets are completed early in the day. “Selling rallies” is the new dynamic vs. buying dips.

1. Weak Seasonals - Since 1928, we just exited the best two-week period of the year. Friday’s option expiry ended the best seasonal period of the year. August seasonals are not market friendly and trend lower all of August, for the 4th worst two-week seasonal period of the year. Today you are here and Jackson hole is the low point of this chart. Since 1950, there have been 19 times in 72 years that the S&P is up at least >10% through the first half of the year. The median return for August specifically, following a strong 1H is typically down -51bps, before rallying higher.

2. Largest outflows of the year - Investors allocate capital into the market in July and we have seen these record inflows. This is the biggest dynamic in the equity market this year period. Inflows continue at a record pace, annualizing at $1.2 trillion inflows for 2021. 401k inflows predominately flowed in S&P and NDX rather than ROW.

3. Reversal of flows predicted for August - Equity inflows are not common in August. Over the last 30 years, August typically sees the largest outflows of the year. -15bps of AUM typically leaves stock market funds in August, on ~22 Trillion, we model -$33B worth of equities for sale.

4. Outflows cont. To be clear, -$33B is not a significant $ figure when adjusted for market cap, however more important is that it’s not an inflow. The index level has remained at ATHs given inflows bid up the largest and biggest market cap index weights. On Monday we saw a large MOC imbalance for sale, this was unusual.

5. Passive flows drive largest marketcaps - Passive ETFs logged the best full year of inflows on record, in just the first half of the year. (+500b). I watch the tape every day register large MOC imbalances to buy at 3:50pm EST, but what if this dynamic fades. Remember $1 inflow into SPY flows $.23 cents into top 5 companies and $1 inflow into QQQ flows $.41 cents into top 5. If inflows flip to outflows you will no longer see broad index dynamic. Then investors need to decide which sector becomes the funding source for outflows.

Just how important has this been for the S&P 500? Important!

  • Global Equity: 1-year: +$600B passive (IN) vs. $0.0B active (OUT) = >$600B.
  • Global Equity: 5-year: +$2.30T passive (IN) vs. -$1.90T active (OUT) = >$4.2T
  • Global Equity: 10-year: +$4T passive (IN) vs. -$3.0T active (OUT) = >$7.0T
  • Current Global Equity Active AUM of $10.099T exceeds > Current Global Equity Passive AUM $7.225 T.

Side note: ETFs represented 36% of the notional executed volumes, last levels since in March/April 2020. (YTD average) = 24%. Did you see the massive volumes in SQQQ Monday (3x short QQQ)?

6. Single Stock Calls - This is set up is very similar to July and August 2020 blow-off top as a result of call option trading. Reminder, S&P sold off -392bps in September 2020 after call option volumes started to fade.

  • Option notional has averaged an all-time record of +$550B per day in July. The top 3 traded stocks (AAPL, AMZN, and TSLA) make up $300B of daily volumes. Breadth in both options and stocks is low.
  • "Of 4000 Tradeable Single Stock options, the top 3 names make up 56% of the daily avg notional traded. Adding in the next 7, that ratio jumps to 72%."
  • "Said another way the top 10 underliers trade 3x more notional on an average day than the bottom 3990”
  • This is an important dynamic to monitor.

7. Call Options cont. - Retail has pivoted from trading weekly call options on GME and AMC - only $6B combined notional per day to the stay-at-home playbook. The names with the highest daily option trading are also the largest index weights. In addition to ETF flows, the retail call option buying frenzy also takes the street short weekly gamma on single names. 75% of single stock options traded today have an expiry of two weeks or less. Said another way, given GS YOLO risk sentiment basket has rolled over, does AAPL need to catch down next (or at least not see YOLO flows).

$181bln/day AMZN
$ 82bln/day TSLA
$ 36bln/day AAPL
--------------
TOTAL TSLA/AMZN/AAPL: $299bln/day  ------- What happens if call volume in mega cap tech declines?

$ 26bln/day NVDA
$ 14bln/day GOOGL
$ 11bln/day FB
$ 10bln/day MSFT
$  8bln/day SHOP
$  8bln/day GOOG
$  8bln/day NFLX
$  7bln/day BABA
--------------
TOTAL GOOG/GOOGL/MSFT/FB/NFLX/NVDA/SHOP/BABA: $90bln/day

$  4bln/day AMC
$  2bln/day GME
--------------
TOTAL AMC/GME: $6bln/day  ------- No Mo’ Yolo? See chart below.

All other underlyings: $141bln/day

Total single stock option market:
$299bln/day TSLA/AMZN/AAPL
$ 90bln/day GOOG/GOOGL/MSFT/FB/NFLX/NVDA/SHOP/BABA
$  6bln/day AMC/GME
$141bln/day All other underlyings
--------------------
$537bln/day Total

8. Option Gamma Unwinds - Option Expiry just rolled off -85% of the market long gamma. The market now has the ability to move more freely and trade less long gamma. Everyday last week the market would rally into the bell as dealers re-hedge their gamma (buying the dips). I get worried about summer end-of-day liquidity without gamma hedging and passive demand. I think there will be also a “institutional” demand to buy hedges into Jackson Hole fulling removing the long gamma taking the street short to hedge downside. We have seen more puts and put spreads on the desk this week than any week of 2021.

  • Wednesday (7/14) SPX gamma = +$4,625B
  • Thursday (7/15) SPX gamma = +$3,620B
  • Friday (7/16) SPX gamma = +$3,136B
  • Monday (7/19) SPX gamma = +$2,698B
  • Tuesday (7/20) SPX Gamma = +$713B.

the Long S&P 500 gamma has been reduced by -85% in the past 5 days taking dealers less long gamma. This dynamic changes market behavior and we are seeing little demand to systematically overwrite from here even despite the move higher in vols. This is new.

9. Systematic - Non-economic is already near the max exposure and have little scope to add further from here. No threshold levels have triggered so far, but it is important to note the lack of ability to add from here, which asymmetrically skews the downside.

  • CTA - 90% percentile on 1-year rank, 84% percentile on 3-yr rank.
  • GS models -$9B of equities for sale over the next week. CTA’s are sellers in an up tape, down tape, down big tape. That’s not common. Check out big asymmetry to the downside over the next 1 month.
  • GS short term CTA ES1 Flip Level = $4,257.90. We tripped this circuit breaker yesterday, but are higher this am. I expect GS sell expectations to increase.

b) Vol Control - 86% percentile on 1-year rank, 75% percentile on 3-yr rank. FYI. SPX Put/Call Ratio hit a fresh 1 year high yesterday.

c) Risk Parity - 100% percentile on 1-year rank, 53% percentile on 3-yr rank.

d) Total Systematic - 92% percentile on 1-year rank, 80% percentile on 3-yr rank. This is important. This non-emotional demand is at the max and will be sellers lower.

10. Liquidity - The unofficial Rubner out of office outlook (OOO) reply meter. My note last week has week had the largest out of office kickbacks to the tune of “see you in a few weeks” or “gone fishing”. The upcoming calendar into Jackson Hole is important.

  1. next few weeks, extended vacation schedule first time in 12 months, etc, moved forward because Jackson hole.
  2. Jackson Hole, August 26 (Thursday) - August 28 (Saturday) – Friday is the likely the key calendar, but potentially Saturday will be important. This moves hedges to the following week.
  3. Labor Day, September 6 (Monday exchange holiday) - late this year
  4. approximate First day of Children’s school, September 7 (Tuesday)
  5. Liquidity = August Summer – ZZZZ. Top book liquidity declined SUBSTANTIALLY into the sell off yesterday.

*** despite being ranked 10 in the checklist. This is really chart #1. Liquidity dried up substantially yesterday on the screens. This chart peaked at $36M last Monday to $10.810M yesterday. This is a drop of $25M $ or ~70% in on screws liquidity in 1 week.

11. Buybacks: Buybacks are here, but so is equity issuance, which neutralizes the buyback impulse. As corporates meet corporates. From Sales and trading colleague, John Flood in his most recent trading note.

“It has been a paper party and this paper is getting harder to place. Last week we priced 11 registered deals in the U.S. ($3b notional) and this week already working on another 18 ($10b). This is especially noteworthy while in the depths of July.“

  • Last week there was $6.2 billion in equity issuance, compared with the July weekly average of $3.4 billion since 2000.
  • Last week there were 27 equity deals brought to market, compared with the July average of 15 deals per week since 2000.

Bottom Line: Keep Tactical Flow of Funds Checklist on your radar for August. The technical market structure dynamics changes substantially during August. I think there will be a dip (-5%) and it is meant to be bought heading late into Jackson Hole. The consensus is calling for a larger equity market correction, I do not see it given the amount of capital in the system. I change my tone if we trigger key levels to the downside as sellers are lower. If August outflows actually happen, I think tech underperforms cyclical value reopen given high concentration and largest passive impact. Once we see the first outflow in August, this will be the macro trigger for a tactical short. Stay tuned and keep an eye on liquidity.

Tyler Durden Wed, 07/21/2021 - 16:20
Published:7/21/2021 3:33:22 PM
[Gadgets] FTC puts hardware makers on warning for potential ‘unlawful repair restrictions’ As phones and other consumer devices have gained feature after feature, they have also declined in how easily they can be repaired, with Apple at the head of this ignoble pack. The FTC has taken note, admitting that the agency has been lax on this front but that going forward it will prioritize what could […] Published:7/21/2021 3:33:22 PM
[Markets] Realtor.com: Michelle Pfeiffer Lists Posh Property in Pacific Palisades for $25M A year and a half after picking up a pricey Pacific Palisades property, the “French Exit” star Michelle Pfeiffer and her husband, TV producer David E. Kelley, have changed course and decided to part with the home. It’s now on the market for $25 million.
Published:7/21/2021 3:33:22 PM
[Comedy] @SvnSxty you're telling me the starship enterprise can materialize ANY food out of thin air and there isn't ONE crewmember struggling with their weight ok Published:7/21/2021 3:09:53 PM
[] Au Revoir! Antifa and BLM Rioters Are Finally Going to Prison Published:7/21/2021 3:09:53 PM
[Customs, Border and Immigration News] Biden Administration Pays $3 Million Every Day To Not Build The Border Wall

By Kaylee Greenlee -

The Biden administration is spending around $3 million daily to not finish construction on the southern border wall, Republican Oklahoma Sen. James Lankford said Wednesday. Around $2 billion in taxpayer dollars have been wasted on paying Department of Defense (DOD) contractors to not build the border wall since Jan. 20, …

Biden Administration Pays $3 Million Every Day To Not Build The Border Wall is original content from Conservative Daily News - Where Americans go for news, current events and commentary they can trust - Conservative News Website for U.S. News, Political Cartoons and more.

Published:7/21/2021 3:09:53 PM
[Politics] House sets deadline for EPA to limit toxic man-made chemicals in drinking water

The House set deadlines for the EPA to implement drinking water regulations for the nonstick forever chemicals known as PFAS.

Published:7/21/2021 3:09:53 PM
[TC] Twitter tests Reddit-style upvote and downvote buttons Twitter will test the use of Reddit-like upvote and downvote buttons as a way to better highlight the more interesting and relevant replies in a longer conversation thread. The company announced this afternoon it would begin what it’s calling a “small research experiment” that will add upvote and downvote buttons to replies, or even replace […] Published:7/21/2021 3:09:53 PM
[Entertainment] Irina Shayk and Jason Sudeikis Share a Hug as They Dine Out With Friends in NYC Irina Shayk, Jason Sudeikis Ahead of Ted Lasso season two, Jason Sudeikis was seen in New York City scoring big on friendship. The creator, writer and star of the Apple TV+ Emmy-nominated hit spent a night out with...
Published:7/21/2021 3:09:53 PM
[House of Representatives] Pelosi vetoes Jordan; McCarthy pulls GOP from “select” committee (Paul Mirengoff) Yesterday, I wrote about Kevin McCarthy’s picks for the select subcommittee to investigate the events of January 6 of this year. McCarthy made five selections, including Jim Jordan. It was far from clear that Nancy Pelosi would consent to Jordan serving on the committee, and she wasted little time in vetoing the Ohio Republican. She also nixed Jim Banks, another of McCarthy’s choices. McCarthy, in turn, wasted little time in Published:7/21/2021 3:09:53 PM
[Society] Woke Language Is Changing the Meaning of Words

Have you noticed how our language is changing? At a congressional hearing on “Birthing While Black,” nearly every politician used the words “birthing people” instead... Read More

The post Woke Language Is Changing the Meaning of Words appeared first on The Daily Signal.

Published:7/21/2021 3:09:53 PM
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