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The Financial Consequences Of 'Gray' Divorce

Authored by Anne Johnson via The Epoch Times,

Gray divorce refers to divorce among adults ages 50 and over. And although divorce among younger adults has been declining over the past 15 years, according to Pew Research, gray divorce is on the rise.

Gray divorce is becoming more common, and its financial impact can last well into retirement. New Africa/shutterstock

Although any divorce can be financially difficult, gray divorce is especially hard on retirement because it halves accumulated savings. It can also double living expenses by creating two separate households. The danger of a gray divorce is that, unlike a divorce in your 30s where you have time to make up for the financial loss, there is little time left in your 50s or 60s to rebuild wealth.

Prevalence of Gray Divorce

According to a study published in The Journals of Gerontology by Susan L. Brown, the gray divorce rate was low and grew only modestly between 1970 and 1990 before doubling by 2010.

The study found that, although the divorce rate has stagnated among middle-aged adults, it continues to climb among older adults.

In 2022, 36 percent of U.S. adults who divorced were aged 50 or older. The only group with an increasing divorce rate was found to be adults aged 65 and older.

According to Barnes Family Law, divorce among couples 65 and older has tripled since 1990 and is expected to grow by another one-third by 2030.

Financial Fallout From Gray Divorce

The longer the marriage, the more assets you share with your spouse. Finances are intermingled. And now, depending on your state's laws, retirement savings, homes, and other assets will need to be split. Both men and women experience roughly a 50 percent drop in wealth, according to a 2022 study published in Innovation in Aging titled "The Economic Consequences of Gray Divorce for Women and Men."

The study also found that women experienced a 45 percent decline in their standard of living, whereas men's standard of living dropped by 21 percent.

Beyond just splitting assets, the cost of divorce because of legal proceedings can affect your monthly budget or retirement plans.

According to The Law Offices of David M. Moore, the average divorce in the United States costs between $15,000 and $20,000. But this figure can actually run from a few hundred dollars for an amicable divorce to over $100,000 in a high-conflict high-asset divorce.

Dividing Assets Over 50

If you and your spouse can't agree on how to divide assets, a judge will decide following the law of the state.

Most judges use a system called equitable distribution, splitting all assets, earnings, debts, and property as they deem fair, according to Edelman Financial Engines. The length of marriage may also be a consideration. However, nine states follow community property laws. In these states, community property is typically divided 50-50, and each spouse keeps his or her separate property.

Retirement Accounts Divided Through QDRO

According to The Pension Rights Center, retirement plans like 401(k) plans, 403(b) plans, and pension plans typically must be divided through a qualified domestic relations order (QDRO).

A QDRO is a legal instrument that grants a person the right to a portion of the retirement benefits that person's former spouse has earned through a private sector employer-sponsored retirement plan.

Without a QDRO to divide these benefits, people going through divorce may lose their rights to a share of those benefits and put themselves at risk for financial insecurity at retirement.

It's important to hire an attorney who understands that retirement assets are at stake and that a QDRO is needed.

The court must be notified to ensure the former spouse provides all the information the court needs.

According to the IRS, most plans require you to file a QDRO with the plan administrator before the plan can pay any portion of a participant's retirement benefits to an ex-spouse.

Life Insurance for Dependents and Alimony

Life insurance may also be subject to division in a divorce. This is especially true if there is a cash value since this may be considered a marital asset.

According to Edelman Financial Engines, many divorce settlements require holding life insurance to protect child support and alimony payments.

Regardless, ensure you update your beneficiary for all life insurance policies.

Post-Divorce Retirement Planning

It's important to prepare a financial plan and budget to help guide you through your divorce. You'll want to review monthly bank and financial statements and make copies for your attorney.

Taxes are often overlooked. Ensure you consult an accountant or tax attorney. If you are paying or receiving alimony, discuss this with an accountant. According to Intuit Turbotax, when you started collecting alimony determines any taxation.

According to the Social Security Administration, if you've been married more than 10 years and have divorced, you're generally entitled to half of your spouse's Social Security, provided the benefit is greater than what you qualify for. You must be 62 or older, and if you file before your full retirement age, you'll receive a reduced Social Security benefit.

Anne Johnson was a commercial property and casualty insurance agent for nine years. She was also licensed in health and life insurance. She went on to own an advertising agency, where she worked with businesses. She has been writing about personal finance for 10 years.

Tyler Durden Thu, 08/06/2026 - 20:05

These Are The States With The Most Empty Homes

America faces a housing shortage, yet about 14.5 million homes across the country are vacant. How can both be true?

Using the latest U.S. Census Bureau data compiled by LendingTree, Visual Capitalist's Dorothy Neufeld created this map showing the share of vacant housing units in every state.

The figures include vacation homes, rentals awaiting tenants, homes for sale, and other unoccupied properties, not just abandoned buildings.

Which States Have the Highest Vacancy Rates?

About one in 10 U.S. housing units is vacant, but most are not permanently sitting unused.

Nearly 4.7 million vacant units are seasonal or recreational homes, 2.6 million are available for rent, and fewer than 800,000 are actively listed for sale. This helps explain why states with large vacation-home markets, including Maine, Vermont, Florida, and Hawaii, record some of the nation’s highest vacancy rates.

Rank State Vacancy Rate 2024 Vacant Housing Units 1 Maine 20.6% 154,717 2 Vermont 19.4% 65,626 3 Alaska 17.6% 57,958 4 West Virginia 15.4% 132,670 5 Florida 14.7% 1,503,660 6 Mississippi 14.6% 195,683 7 Alabama 14.5% 340,018 8 Louisiana 14.4% 304,122 9 New Hampshire 14.3% 92,650 10 Arkansas 13.5% 188,686 11 Delaware 13.4% 62,165 12 Hawaii 13.3% 75,443 13 South Carolina 13.3% 325,050 14 Montana 13.2% 69,560 15 New Mexico 12.5% 119,550 16 North Carolina 12.5% 613,323 17 North Dakota 12.3% 46,218 18 Wyoming 12.2% 33,823 19 Oklahoma 12.0% 212,738 20 Michigan 11.8% 545,867 21 Missouri 11.2% 317,060 22 Wisconsin 10.8% 299,092 23 Arizona 10.5% 336,758 24 South Dakota 10.5% 43,040 25 Georgia 10.3% 467,469 26 Idaho 10.3% 82,009 27 Kentucky 10.3% 208,647 28 Tennessee 10.2% 319,393 29 District of Columbia 10.1% 36,523 30 New York 10.0% 862,595 31 Texas 9.4% 1,135,699 32 Minnesota 9.3% 237,075 33 Nevada 9.3% 123,878 34 Kansas 9.2% 119,575 35 Pennsylvania 9.2% 531,599 36 Rhode Island 9.1% 44,362 37 Indiana 8.8% 260,559 38 Virginia 8.7% 319,024 39 Iowa 8.5% 121,992 40 Colorado 8.3% 214,835 41 Massachusetts 8.1% 245,364 42 Ohio 8.1% 429,200 43 Utah 8.1% 98,646 44 Illinois 7.7% 421,003 45 Maryland 7.7% 197,856 46 Nebraska 7.6% 65,597 47 California 7.5% 1,096,644 48 New Jersey 7.5% 283,653 49 Oregon 7.5% 139,570 50 Washington 7.3% 241,800 51 Connecticut 7.0% 107,815 -- 🇺🇸 U.S. total 10.1% 14,547,859

Maine leads the country with a vacancy rate of 20.6%, followed by Vermont at 19.4% and Alaska at 17.6%. At the other end of the ranking, Washington and Connecticut have rates of around 7%, while California, New Jersey, and Massachusetts also sit near the bottom.

In these states, available housing is often absorbed quickly, leaving fewer homes unoccupied. A low vacancy rate can therefore reflect strong demand, not necessarily a healthier or more affordable housing market.

Why Empty Homes Won’t Solve the Housing Crisis

At first glance, millions of vacant homes may appear sufficient to ease America’s housing shortage. In practice, many are not available to year-round buyers or renters.

Some are second homes or seasonal properties concentrated in vacation destinations, while others are temporarily vacant between tenants or owners. High vacancy rates and housing shortages can therefore exist at the same time, particularly in expensive metropolitan areas where year-round housing remains scarce.

To learn more about this topic, check out this graphic on the salary needed to afford rent across America.

Tyler Durden Thu, 08/06/2026 - 19:40

Voter Files In Arizona's Largest County Illegally Obtained In 2020, Records Show

Authored by Zachary Stieber via The Epoch Times,

Voter files in Maricopa County, Arizona, were obtained illegally before the 2020 presidential election, according to records released on Aug. 6 by the White House.

Authorities discovered that 633,000 voter files had been exfiltrated from the Maricopa County Recorder’s Office just before the election, according to logs from the U.S. intelligence community and other documents.

The voter files contained information such as people’s names, birth dates, and addresses.

About 930 of them included information on people such as domestic violence victims, judges, and law enforcement officers.

The files were illegally extracted from the office, the FBI said in a document opening an investigation.

The bureau identified a suspect, who admitted to the crime, according to a document summarizing an interview agents conducted with the man.

The man, who has not been publicly named, used to work for a city whose name was redacted in the FBI file.

He went on to work for himself, fixing computers and removing viruses from machines.

In 2020, he discovered a vulnerability on the Maricopa County Recorder’s Office website while registering to vote.

The man developed a program to obtain voter files from the website and ended up extracting between 1 million and 2 million files to his personal hard drives and an online account, he told investigators.

The man said he did not intend to sell the information.

After he “realized the gravity of the situation,” he “became scared” and knew he would be visited by law enforcement, according to the interview summary.

The man told officials that he destroyed the files shortly before the FBI raided his house in Fountain Hills in November 2020.

The man said he regretted what he did and knew he had to deal with consequences for his actions.

The FBI “spent significant resources solving this cybercrime,” FBI Director Kash Patel said in a statement, but prosecutors in Arizona declined to prosecute the man. He has never been charged.

There’s no evidence that any votes were changed in association with the incident, John Solomon, chairman of the White House Government Transparency Task Force, told reporters on a call.

The Maricopa County Recorder’s Office did not immediately respond to a request for comment.

Tyler Durden Thu, 08/06/2026 - 19:15

Watch: Mamdani Booed Off Stage At Pro-Police Event As 9/11 Backlash Builds

New York City Mayor Zohran Mamdani got a blistering welcome from Staten Islanders Tuesday night, drowned out by a wall of boos that chased the self-avowed Democratic socialist off the stage in under a minute at a National Night Out Against Crime event.

Mamdani had come to Midland Beach to address thousands gathered for the NYPD's 43rd annual National Night Out Against Crime, an event built around strengthening the bond between police officers and the neighborhoods they protect--however--it did not go as planned.

Videos rocketing around social media showed the crowd jeering as the mayor stepped toward the podium, with attendees shouting at Mamdani to leave and others flashing thumbs-down gestures in the borough long considered the city's most conservative.

“It’s a pleasure to be here, I want to say thank you …” Mamdani began amid loud and lusty boos and a barrage of insults such as “you suck!”

The mayor kept smiling through it.

"Happy Night Out Against Crime. It's amazing to be here for the Staten Island community," Mamdani said, thanking local officials and Staten Island artist Scott LoBaido before wrapping up with, "God bless everyone. Thank you."

The whole appearance clocked in at less than a minute before the mayor walked off. Local reports said Mamdani later stopped to pose for photos with some attendees, hostile reception notwithstanding.

The Staten Island rebuke comes as thousands are protesting Mamdani's presence at 9/11 memorial events. Among those protesting the mayor is Nassau County Executive Bruce Blakeman vowing to turn his back on Mamdani if the mayor shows up.

"I would equate this to a wake. You don't go to a wake if you're not welcome," Blakeman told reporters, according to the New York Post. 

"I think it's completely appropriate if family members ask him not to come, but if he does come I think there's a respectful and peaceful way to protest that and I would suggest that people turn their back on the mayor," Blakeman said. 

"He's not welcome there because he has yet to say anything in opposition to the global intifada. As a matter of fact it seems like he supports that phrase which is part of the reason why we had the tragedy we had on 9/11."

Staten Island is the most conservative borough in New York City, although it maintains a higher number of registered Democrats than Republicans. As of February 2024, 39.72 percent of registered voters were Democrats compared to 31.46 percent who vote Republican.

Tyler Durden Thu, 08/06/2026 - 18:50

US Intelligence Assets Said To Descend On Cuba

Authored by John Weeks via News.Anti-War.com,

Writing in POLITICO on Tuesday, Dasha Burns and Nahal Toosi reported that in recent months the US intelligence community has “sent spies and assets” to Cuba. Specifically, they reported the CIA has increased its presence on the island, which sits approximately 90 miles south of Florida.   

Burns and Toosi based their reporting on interviews with “two people familiar with the Trump administration’s plans for the island,” who were left anonymous due to the “sensitive” nature of the information they provided. The authors said the CIA, White House, Defense Intelligence Agency, and the Office of the Director of National Intelligence all declined requests for comment.

The report claimed the Trump Administration does not believe it has to resolve the war with Iran before taking military action in Cuba and that the Cuban issue is a “huge priority” of Secretary of State and Acting National Security Advisor Marco Rubio.

The cityscape of Havana, as Cuba scrambles to reconnect its national electrical grid following a nationwide blackout, in Havana, Cuba August 4, 2026. REUTERS/Norlys Perez

While the accuracy of the inside information cannot be verified, nor whether its status is official or unauthorized, the claims are consistent with recent rhetoric and actions of the Trump administration, and the US did reportedly take similar action before the January 3 attack on Venezuela to abduct President Nicolas Maduro.

Rubio, who is of Cuban descent, has been very hands-on regarding Western Hemisphere geopolitics. After the attack on Venezuela, Trump vowed the US would be “running” the country for an indefinite transition period, and Rubio was given that brief within the administration. By all accounts, he is eager to add running Cuba to his area of responsibilities and not optimistic about diplomacy.  

On July 20, his State Department published “Cuba: The Capital of 21st Century Communism.” The nearly 100-page report described the Cuban state as “the center of a vast hemispheric network” intent on destroying the United States and collapsing Western Civilization.

The report depicted the small island nation as a subversive proxy of Russia, China, and Iran, as well as the true power behind several American leftist movements, including Antifa, Code Pink, and Black Lives Matter. It was part of a pattern of the US setting up pretexts for a potential attack on Cuba.

Government officials, from President Donald Trump on down, have described Cuba as a national security threat to the United States and the entire Western Hemisphere.

Washington has engaged in more than rhetoric. In June, massive sanctions were placed on Cuba that are forecast to create a “severe economic crisis.” Under the sanctions regime and a ramped-up oil embargo imposed after the attack on Venezuela, Cuba’s electrical infrastructure and healthcare system have collapsed, causing a major humanitarian crisis.

While crushing Cuba’s economy, Washington has also been sending aid to Cuban citizens run through nongovernmental organizations.

On July 21, the State Department announced “the first flight of humanitarian relief under Secretary Rubio’s historic commitment of $100 million in humanitarian assistance to the Cuban people, who are suffering from the consequences of the Communist regime’s kleptocracy, brutality, and economic incompetence.”

Tyler Durden Thu, 08/06/2026 - 18:25

Investigators Unveil Charges Against Dismissed Ukrainian Ambassador To The US

Another top level Ukrainian official has been booted from office over significant corruption allegations, which comes at a moment of a broad shake-up of military and cabinet leadership initiated by President Zelensky.

Olha Stefanishyna was dismissed as Ukraine's ambassador to the United States earlier this week, both local media as as Reuters have confirmed.

via Associated Press

Reuters writes that she is "suspected of illegal enrichment and failing to declare assets, authorities said on Thursday, the latest high-ranking official targeted in an anti-graft probe" - after she reportedly hid two apartments along with other assets worth about $310,000.

She had been a deputy prime minister prior to being appointed top diplomatic representative to Washington, and it's believed that her concealed assets could not have been obtained with her official salary alone. She had also briefly served as Minister of Justice during the war with Russia.

Much of her additional properties and other assets were registered under the names of Stefanishyna's friends and family members. Kyiv Post reports Thursday:

The High Anti-Corruption Court on Aug. 6 set Hr 6 million ($130,000) bail for Olha Stefanishyna, Ukraine's former ambassador to the U.S., in a corruption case.

She has been charged with illicit enrichment amounting to Hr 13.9 million ($310,000) and lying in her asset declarations. An anti-corruption prosecutor earlier proposed setting bail for Stefanishyna at Hr 13 million ($290,000).

Stefanishyna failed to declare two apartments, worth nearly Hr 11 million ($250,000), that were registered in the name of a friend, according to the National Anti-Corruption Bureau (NABU).

She has in the meantime taken to social media to declare there's been no wrongdoing that she doesn't have anything to hide. But she voluntarily submitted her resignation earlier this week, upon which Zelensky dismissed her.

According to a newly published list of the undeclared assets, she tried to 'hide' the following:

• Two apartments in a residential complex in western Kiev, registered to a friend
• A luxury apartment in central Kiev, registered to her mother
• A parking space and several auxiliary premises at the same high-end property, registered to her father
• A Mercedes-Benz GLC 220 d, registered to a subordinate

"Any procedural actions are part of the lawful work of the law enforcement system and do not amount to a finding of guilt," she wrote on Facebook. "I take these developments calmly and without unnecessary emotion."

‼️BREAKING Ukrainian court sets ₴6 million (~$130,000) bail for Olha Stefanishyna, former Ambassador of Ukraine to the United States.
She is suspected of illicit enrichment and false asset declarations. Prosecutors had requested more than twice that amount. pic.twitter.com/5cnwBsruUG

— EMPR.media (@EuromaidanPR) August 6, 2026

Stefanishyna had served as ambassador to the US for the past year, going back to August of 2025. Local media says the alleged concealing of assets took place during that stint, and reports additionally say she was in the process of buying another property - an apartment valued at the equivalent of $550,000 - but backed out of the deal.

Broadly, the Ukrainian population has suffered immensely amid the conflict with Russia, with frequent blackouts and amid a battered wartime economy - and so ordinary citizens get increasingly frustrated and outraged when they see government officials living lavish lifestyles which include luxury cars and multiple homes and properties.

Tyler Durden Thu, 08/06/2026 - 18:00

US Immigration Agency Asks Public To Report Fraud, Anti-Government Activities

Authored by Jack Phillips via The Epoch Times,

The federal agency that processes green cards, U.S. citizenship requests, and work permits this week called on people to report potential cases of immigration fraud through a newly created portal.

In an Aug. 4 post on X, U.S. Citizenship and Immigration Services (USCIS) wrote that anyone who suspects “immigration fraud, criminal activity, or actions by aliens that threaten national security or public safety” can report it to the agency, a branch of the Department of Homeland Security (DHS).

“Reports should involve aliens suspected of fraud, unlawful acts, threats, violence, terrorism-related activity, or other conduct connected to immigration,” the agency said.

On Wednesday, it called on anyone who notices or suspects non-U.S. citizens are “committing immigration fraud of any kind, making false claims of U.S. citizenship, or advocating violence or terrorism against America” to report tips.

It then directed the public to a website, titled “Protect America Together,” which allows the public to submit details of suspected fraudulent activity. That can include noncitizens using fake or altered documents, as well as identity, marriage, visa, employment, and asylum fraud.

Tipsters can also submit reports of suspected fraud and abuse within the H-1B visa program, which has been used by companies to employ Big Tech workers for decades, and within the EB-5 immigrant investor visa program.

“Falsely claiming U.S. citizenship, including registering or voting in a federal election” can also be reported using the website, it said.

Other activities that can be reported include noncitizens “supporting terrorist ideologies or providing material support to terrorist organization,” “advocating for the violent overthrow of the U.S. government,” “expressing hatred for American values,” working with groups or individuals who are seeking to disrupt public safety or national security, or “engaging in activities that violate the principles of the Constitution or show disloyalty to the United States.”

A spokesperson for DHS told The Epoch Times on Wednesday evening that the website is a new push from USCIS.

“A single tip can help protect the United States from immigration fraud that exploits the American people and undermines America’s legal immigration system,” the spokesperson said.

Immigrants await their turn for green card and citizenship interviews at the U.S. Citizenship and Immigration Services (USCIS) Queens office in the Long Island City neighborhood of New York City on May 30, 2013. John Moore/Getty Images

When submitting details to the web portal, USCIS directs tipsters to include as many details as they can, including a name, date of birth, or address.

It also directs users to provide information about themselves, including their names, emails, and phone numbers. The reporting form allows for either businesses and companies or individuals to be reported.

According to the agency, users will soon be able to upload screenshots as they report tips to USCIS.

Since President Donald Trump took office last year, his administration has made mass deportations and enforcing laws against illegal immigration a priority. His administration has also moved to tighten legal immigration rules and suspend certain temporary deportation protection programs for certain countries.

The administration has also moved to denaturalize U.S. citizens such as those who were convicted of crimes including sexual abuse of a child, healthcare fraud, and immigration fraud, among other charges.

USCIS did not immediately respond to a request for comment Wednesday.

Tyler Durden Thu, 08/06/2026 - 17:40

DeepSeek Resumes $74BN Mega-Raise - Then Warns It's Jacking-Up Prices

Chinese AI startup DeepSeek is looking to raise roughly 50 billion yuan at a valuation of 500 billion yuan (US$74 billion) - while the company warned developers a day later that it's raising prices. The resumed funding round, first reported by Chinese business outlet Caijing (via The Standard), is expected to be signed by the end of the month, with the process kept deliberately quiet; some participating institutions reportedly haven't even been formally told the deal is back on. The pricing notice, posted Thursday to DeepSeek's developer platform, warns that API rates will rise across the board and that the increase is expected to be "significant."

Image:  Mojahid Mottakin - stock.adobe.com 

The round restarts barely two weeks after it was shelved, and roughly six weeks after DeepSeek's first-ever external raise in June, which pulled in some $7.4 billion from Tencent, CATL, Beijing's National AI Industry Investment Fund, NetEase, JD.com, Monolith Management and IDG Capital at a valuation north of $50 billion (corporate filings later implied a figure closer to $52 billion). The new target is a steep markup on a deal that closed weeks ago, and the prospective investor list reportedly blends returning backers with new money that couldn't get into round one.

As we noted last month, the round stalled because a transcript of founder Liang Wenfeng's May 20 closed-door meeting with investors leaked onto GitHub and went viral - a document in which Liang admitted China still trails the US in AI (a gap of compute and capital, not talent, per Liang), conceded DeepSeek remains heavily dependent on Nvidia hardware, described Huawei's substitutes as falling well short, and acknowledged the company could get its hands on processors he called "noncompliant." 

Liang - reportedly furious over the leak - simply froze the deal.

Meanwhile, questions about how DeepSeek is obtaining restricted silicon go back to the very beginning - with federal investigators probing whether Singapore-based third parties funneled blacklisted Nvidia chips to the lab as far back as early 2025, and by that April the House Select Committee on the CCP had formally concluded that DeepSeek's model appeared to run on tens of thousands of export-restricted Nvidia chips, branding the company a tool for "subverting" US export controls. Congress alleged it and now the founder has all but confirmed it, on (leaked) record telling investors the workaround exists - even as the company lays groundwork for a Shanghai STAR Market IPO it reportedly hopes to file this year. Should be a fun prospectus to read. 

Liang was able to hit the pause button so easily because DeepSeek's first round routed nearly every investor's money into a limited partnership Liang personally controls, complete with a five-year lock-up and zero voting rights. The lone exception was the state AI fund, which bought direct equity and kept its vote. Liang holds roughly 84% of the company and near-total voting control - meaning Tencent and CATL wired in billions for the privilege of watching, while Beijing holds the only outside seat at the table.

In the leaked transcript, he told investors that GPUs are the single best use of the company's capital, that he would happily convert the entire war chest into Nvidia hardware if supply allowed, and that spending 20 billion yuan a year on processors would count as a triumph for his purchasing team. He also told them the money doesn't go as far as it looks: even 50 billion yuan, he said, wouldn't train a model at the scale of the largest U.S. systems, which he estimated would take roughly 50,000 Nvidia GB300s or 200,000 Huawei Ascend 950s - before the experiments that precede any final training run. Beyond the hardware, the company plans to double headcount and push into data centers and AI agents, and Reuters reports it is quietly hiring chip designers to develop in-house inference silicon - an attempt to engineer its way out of the very dependence Liang lamented.

Price Hike

Which brings us to the other shoe - the company's announcement that API rates will rise across the board in a "significant" way - the company's second hike in under a month, following a "peak/off-peak" scheme TechNode reported in mid-July, which doubled rates during Chinese business hours.

No new rate card or effective date has been published - but this is the lab whose $0.14-per-million-token pricing dragged ByteDance, Tencent, and lately even the US majors into a price war. Demand has reportedly overwhelmed its infrastructure, and bargain-basement tokens are a hard pitch to pre-IPO investors. The catch: DeepSeek's weights are open, so any datacenter on earth can serve the same models. If they raise prices too far, customers may balk.

Tyler Durden Thu, 08/06/2026 - 17:20

DoorDash Wins Federal Approval To Fly Its Own Delivery Drones

Via American Greatness,

DoorDash has cleared a major federal hurdle in its push to put drones, not just drivers, in charge of getting dinner to your door.

The San Francisco-based delivery company announced July 29 that it received Federal Aviation Administration Part 135 air carrier certification, the same category of authorization commercial airlines must hold to legally transport other people’s property for pay. The certificate makes DoorDash the eighth drone operator to earn the designation and clears the way for its new in-house operation, DoorDash Air, to begin building a commercial drone delivery network in the United States.

The achievement did not come easily. Federal regulators put DoorDash through a five-phase review examining its aircraft, maintenance procedures and safety program before signing off. That kind of vetting is worth noting at a time when many Americans question whether Washington bureaucracies move too slowly to keep pace with private-sector innovation

DoorDash says the drone will be designed and built in the United States, with most of its components sourced domestically as well. Building the aircraft at home, rather than relying on foreign-made hardware, keeps DoorDash in step with a growing national push to reduce reliance on Chinese technology in critical infrastructure.

The company says the drones fix a real inefficiency. More than 20 percent of DoorDash orders in 2025 traveled between three and five miles, and those trips took nearly a quarter longer than shorter deliveries, largely because drivers prefer clusters of short trips near busy restaurants over a single long haul. DoorDash estimates its existing drone pilots completed deliveries in about 25 minutes on average and saw order volume climb roughly 30 percent in some locations. Those figures come from the company itself and have not been independently verified.

Human Dashers are not going anywhere. DoorDash says drivers will keep handling the overwhelming majority of deliveries, since a drone cannot climb an apartment stairwell or haul a large catering order. The company’s Autonomous Delivery Platform will instead assign each order to whichever method, a Dasher, a delivery robot or a drone, makes the most sense.

Federal certification does not mean drones will appear over American neighborhoods anytime soon. DoorDash still needs airspace authorization and likely additional waivers for flights beyond a pilot’s direct line of sight, and it has not announced its first markets or a launch date. Local zoning boards, noise concerns and community pushback could shape where the company is ultimately allowed to operate, regardless of what Washington has approved.

Still, DoorDash’s milestone reflects a private company willing to invest in American manufacturing and clear federal hurdles rather than wait for government to hand it a shortcut.

Tyler Durden Thu, 08/06/2026 - 17:00

Japan Marks Hiroshima Anniversary Without Naming US, While Shaming Russia

Russia is not happy with Japan's statements regarding the anniversary of the US military's dropping of the atomic bomb on Hiroshima at the end of WWII. Thursday marks the 81st anniversary of the bombing which obliterated the densely-populated industrial city.

The Kremlin is accusing Japanese officials of intentionally dropping any mention of just who dropped the nuke which ultimately killed some 140,000 people, the vast majority of them civilians.

The city's mayor Kazumi Matsui at a ceremony held at the center of where the blast happened issued strong condemnation of nuclear weapons generally, but failed to identify that it was the United States behind it.

Tokyo and Washington have in recent years deepened their security ties, with an eye on China, and so Japanese leaders have long sought to avoid offending their powerful patron and ally. 

Astoundingly, not only did Mayor Matsui fail to mention the US and the B-29 Superfortress 'Enola Gay' bomber that actually dropped the bomb, a simple historical reality, but he went out of his way to condemn the Russian invasion of Ukraine in his Thursday speech.

The speech focused on the "inhumanity of nuclear weapons" and how "use of force to pursue one's own prosperity" must be condemned and abolished, but then he gratuitously invoked Russia while giving the stories of survivors who have since suffered debilitating illnesses:

Another woman, exposed to the bomb at age 3, suffered through the years from a series of illnesses, then leukemia at age 55. Having been diagnosed with A-bomb disease, she lived in constant fear. Where would it strike next?

A man who was 9, in response to Russia's invasion of Ukraine, which has claimed the lives of many civilians, begs us to overcome our internal conflicts and embrace each other's perspectives to build a world without violent conflict. He urges our youth, in particular, to begin by thinking deeply about their daily lives.

Prime Minister Sanae Takaichi was in attendance at the ceremony, a first since entering office, and she too failed to identify the US as the country which dropped two atomic bombs on the Japanese people. She merely called for "realistic and practical" efforts toward a world without nuclear weapons. Top officials from dozens of countries were present, including from Russia, the US, and Iran.

Russian Foreign Ministry Spokeswoman Maria Zakharova was quick to highlight the glaring omission in statements to the press later the same day.

On the atomic bombing's anniversary, Russian Foreign Ministry Spokeswoman Maria Zakharova noted that Hiroshima's Mayor failed to specify the United States as responsible for the city's destruction through the atomic bomb that killed civilians. pic.twitter.com/wdyN6ecIoP

— HatsOff (@HatsOffff) August 6, 2026

"On the anniversary of the atomic bombing, Hiroshima's mayor once again failed to mention the country responsible for the suffering of his city — the United States. Instead, he used the occasion to attack Russia over Ukraine," Zakharova said.

"The crooked mirror of Western narratives distorts not only the reflection but also the consciousness of those who look into it," she stressed.

She went to point out that the mayor "repeats this false mantra year after year, zombifying the Japanese with Russophobic incantations" - and noted that Russia has always remembered the victims of Hiroshima and Nagasaki and appropriately presents the tragedy as an example of "unacceptable cruelty" by American forces. 

"Amid the suffering caused by Japanese aggression in the Far East, our people never forgot the victims of those two cities," she concluded.

Japanese Prime Minister Sanae Takaichi speaks during a memorial at the Peace Memorial Ceremony, via VCG

Russia's TASS is busy highlighting the fact that the UN Chief, who addressed the ceremony too, also failed to so much as mention the United States:

UN Secretary-General Antonio Guterres once again did not mention that the United States was the country that carried out the atomic bombing of Hiroshima in his message marking its 81st anniversary.

UN Under-Secretary-General and High Representative for Disarmament Affairs Izumi Nakamitsu traditionally read out the message.

The report went on: "In previous years, Guterres also never directly named the United States as the country that carried out the atomic bombings in similar messages commemorating the anniversaries of the attacks on Hiroshima and Nagasaki."

Tyler Durden Thu, 08/06/2026 - 16:40

The COVID Lockdowns Gave America A Glimpse Of Socialism

Authored by Mark Gianniny via RealClearMarkets,

The next time a candidate promises that greater government control will make life safer, fairer and more secure, Americans should remember 2020. They should remember the closed schools, shuttered businesses, restricted churches, isolated families, arbitrary mandates and government checks intended to compensate people for livelihoods government had interrupted.

COVID was not socialism in the strict textbook sense. Government did not nationalize most businesses or formally abolish private property. But the pandemic gave Americans a revealing glimpse of the governing instinct behind socialism: Central authorities replaced millions of individual decisions with government orders, restricted private activity in the name of the collective good and made citizens dependent on public assistance to endure the restrictions government itself imposed.

During the frightening opening weeks, temporary precautions were understandable. We faced an unfamiliar virus, hospitals feared being overwhelmed and officials had limited information. Most Americans accepted extraordinary restrictions because they were told the measures were necessary and temporary.

The problem was how quickly temporary precautions became a system of control and how slowly government surrendered that control.

Officials decided who could work and which businesses were "essential." They determined whether children could enter their classrooms, congregations could enter their churches and families could visit elderly relatives. Restaurants, gyms, salons, theaters and neighborhood stores were closed or severely restricted. Weddings, funerals, worship services and private gatherings were regulated by executive order.

To a governor or public-health official, a restaurant or gym might have appeared nonessential. To its owner, it was income, retirement savings, personal identity and perhaps a business intended for the next generation. There was nothing nonessential about it.

Private ownership means less when government decides whether the owner may open the doors, employ workers or serve customers. The deed may remain in private hands, but practical control has shifted to the state.

The same pattern reached schools. Parents did not individually decide whether remote instruction was best for their children. Government agencies, teachers unions and school systems made that decision for them. Students and families bore the consequences through lost learning, social isolation and enormous strain on working parents.

Government also intruded on religious worship. Churches, synagogues and mosques were closed or severely restricted, sometimes while liquor stores and large retailers remained open. Americans were told when they could worship, how many could attend and even whether they could sing.

The First Amendment does not say religious liberty applies only when public officials consider it convenient. Yet during COVID, constitutional freedoms were treated as privileges that government could suspend and later restore.

Many rules imposed under the banner of science were actually emergency judgments supported by limited evidence. The six-foot distancing rule reduced business capacity and complicated school reopenings, yet Anthony Fauci later said he could not recall how that exact distance had been selected. It "sort of just appeared."

Masking policies often showed the same lack of discrimination, treating crowded indoor settings much like solitary outdoor activity. California authorities even pursued and arrested a lone paddleboarder during a beach closure. Such episodes revealed what happens when officials become so certain of their authority that questioning a rule is treated as rejecting science.

Public-health experts were qualified to explain medical risks. They were not uniquely qualified to decide how much education, economic independence, religious liberty and personal freedom should be sacrificed. Those were political and moral decisions that belonged to elected representatives and the public.

Yet "following the science" became a way to avoid that debate. Science could help estimate the risk of infection. It could not decide whether a child should lose a year in the classroom, whether a family business should be destroyed or whether a dying person should be separated from loved ones.

Those decisions required balancing competing risks and values. Instead, one objective, reducing the spread of the virus, was often allowed to overwhelm nearly every other consideration.

The economic response reinforced the same pattern of centralized control.

Government restricted private commerce and prevented millions of people from earning income. It then stepped in with forgivable loans, enhanced unemployment benefits, stimulus checks and other assistance.

Some support was necessary. Government could not prevent people from working and then simply abandon them. But the arrangement exposed the deeper danger: Government first displaced private economic activity and then made citizens and businesses dependent on public money to survive the restrictions it had imposed.

That is the governing instinct behind socialism. Decisions move away from individuals, employers and markets and toward political officials who determine which activities may continue, who qualifies for assistance and how resources will be distributed.

The government that closed the business became the government offering to save it. The government that interrupted the paycheck became the government mailing the check. Dependence was not an accidental side effect of the restrictions. It was their predictable result.

Socialism is commonly sold as a promise of security. Government will protect people from illness, unemployment, high prices, inadequate housing and economic uncertainty. But protection requires authority. The more responsibility citizens surrender to the state, the more power the state claims to direct their choices.

COVID gave Americans a practical demonstration of that bargain. Officials promised safety and claimed the authority to regulate work, education, worship, travel, medical decisions and private gatherings. Every restriction was described as temporary, necessary and imposed for the common good.

That is how centralized control usually advances. It does not arrive by announcing that freedom is being abolished. It arrives through promises of safety, fairness, expertise and temporary necessity. Each expansion appears reasonable when viewed alone. Together, they transfer control of everyday life from citizens to the state.

This was not solely a Democratic failure. Officials in both parties expanded government power during COVID, which is precisely why the danger is larger than any one party or politician.

The lesson is especially important today because democratic socialism is gaining influence within the Democratic Party. The Democratic Socialists of America is not formally the Democratic Party, but its candidates generally seek office through Democratic primaries, and several have defeated incumbent Democrats.

The movement is candid about its objectives. Its constitution calls for "popular control of resources and production" and "economic planning." Its national endorsement standards expect candidates to identify publicly as socialists, support the organization's platform and view themselves as socialist organizers first and legislators second.

Americans should take those declarations seriously. COVID showed what centralized direction can look like before government formally owns private property. Officials may leave the deed in an owner's hands while deciding whether the business may open, whom it may employ and whom it may serve. They may leave churches and schools nominally independent while determining whether people may enter them.

Not every Democrat is a socialist, and not every government program is socialism. But a movement seeking to transfer more economic and personal decisions from individuals, families, businesses and communities to government is no longer operating only at the political margins. It is winning elections and attempting to reshape one of America's two major parties.

The Constitution was designed because the Founders understood that concentrated power, even when accumulated for supposedly benevolent purposes, threatens liberty. Separation of powers, federalism, property rights, religious freedom and due process are not outdated obstacles preventing government from helping people. They are protections against officials who are certain they know what is best for everyone else.

Liberty is more than the freedom to do what government experts recommend. It includes the right to operate a lawful business, educate one's children, worship, own property, question authority and accept reasonable risks without first obtaining government permission.

Socialism promises security through collective action and centralized direction. The pandemic revealed the other side of that bargain: A government that assumes responsibility for protecting every part of life will eventually claim the authority to control every part of life.

Today, candidates are again promising that greater government control will make life safer, fairer and more secure. Before accepting that promise, Americans should remember 2020.

They should remember who was permitted to work, which businesses were declared essential, whether children could enter their classrooms, whether congregations could enter their churches and whether families could visit their loved ones.

They should remember how private independence was replaced by government permission and public assistance.

Above all, they should remember the lesson of 2020: Government power surrendered during an emergency is easily expanded, rarely exercised with humility and never returned as quickly as promised. Liberty is safest when citizens refuse to surrender it in the first place.

Mark Gianniny is a real estate developer and property manager in Rochester, NY.

Tyler Durden Thu, 08/06/2026 - 16:20

Senate Panel Holds Fauci In Contempt For Refusing To Answer Questions

Anthony Fauci has been held in contempt of Congress by the Homeland Security and Governmental Affairs Committee, after he repeatedly refused to answer lawmakers' questions about funding risky research to genetically manipulate bat coronavirus in Wuhan China, and his role in the ensuing lockdown quagmire that cratered the economy after he was put in charge of leading the COVID-19 response. 

Oh, and they obtained a copy of his cell phone. 

In an 8-5 vote brought by Committee Chairman Sen. Rand Paul (R-KY), the contempt vote seeks to refer the case directly to the DOJ for prosecution - bypassing a full vote from the Senate. 

"Seeking the truth is not a witch hunt," Paul said be fore the vote, per the WSJ. "Accountability is not vengeance. Accountability is what stands between the American people and a repeat of the mistakes and the very real consequences of the past." 

The Committee's top Democrat, Sen. Gary Peters, called the investigation "one-sided from the beginning," claiming that "Information has been selectively released to support conclusions that the chairman reached years ago." 

The minority keeps trying to hijack the Fauci hearings with the lie that we haven’t shared the records from this investigation with them. This is a cop-out lie. This has been an intentionally open and transparent investigation. Not one Democrat on the committee cared enough to… pic.twitter.com/hHGtQDV5Ez

— Senator Rand Paul (@SenRandPaul) August 6, 2026

Which of course is complete bullshit. Fauci funded the research, botched the response after COVID-19 broke out, lied about it under oath, and then pleaded the 5th when receipts came out.  

WATCH: Democrats across the board vote to protect Dr. Anthony Fauci. pic.twitter.com/y9xm1mFDbc

— Senator Rand Paul (@SenRandPaul) August 6, 2026 Committee Chairman Rand Paul, R-Ky., questions Fauci on Wednesday.Anna Moneymaker / Getty Images

Or, as Paul wrote prior to the vote: "Dr. Fauci appeared under subpoena and invoked the Fifth Amendment to refuse answering questions. During the hearing, I ruled that the Fifth Amendment did not apply because of the pardon, and that Fauci had waived any remaining privilege by giving opening testimony. I ordered him to answer and warned him about contempt, yet he still refused. That is obstruction of a congressional investigation. The Committee will act accordingly."

PASSED BY REPUBLICANS ON BEHALF OF THE MILLIONS OF AMERICANS AND THEIR FAMILIES STILL AFFECTED YEARS AFTER THE COVID PANDEMIC, THE RESOLUTION TO HOLD ANTHONY FAUCI IN CONTEMPT OF CONGRESS HAS PASSED OUT OF THE SENATE HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS COMMITTEE BY A VOTE… https://t.co/9wgO1KeMd2

— Senator Rand Paul (@SenRandPaul) August 6, 2026

Meanwhile, the WSJ reported last night that the panel obtained a copy of Fauci's cell phone.

A Senate panel investigating Dr. Anthony Fauci has obtained a copy of the doctor’s iPhone, potentially securing even more records related to the doctor’s actions during the Covid-19 pandemic. The copy of the phone was transferred by the Department of Health and Human Services to the Senate Homeland Security Permanent Subcommittee on Investigations, which is chaired by Sen. Ron Johnson (R., Wis.).

This revelation comes just days after copies of Fauci’s journals were publicly released following their transfer from HHS to Congress. Two Republican senators, Johnson and Rand Paul of Kentucky, have increased pressure on Fauci in recent days to answer questions related to pandemic health measures and the origins of Covid-19.

The subpoena, issued in July, directed Fauci to testify on the committee's investigation into "risky life sciences research and the origins of the COVID-19 virus," according to the Epoch Times.

The July 29 hearing itself was a prolonged exercise in refusal. Fauci opened by accusing Paul of an "unhinged obsession" with him and claiming the sole purpose of the session was to trap him into saying something that would land him "behind bars."

From that point forward he answered nothing of consequence. Senators pressed him on gain-of-function research funding, the lab-leak evidence he had privately acknowledged while publicly promoting a natural-origin narrative, lockdown policies, school closures, personal financial awards solicited with federal employees on taxpayer time, and contradictions between his public statements and private diary entries. He declined them all.

Tyler Durden Thu, 08/06/2026 - 15:55

Judge Rules Trump Admin Can End Temporary Protected Status For Haitians

Authored by Jack Phillips via The Epoch Times,

A federal judge on Aug. 5 allowed the Trump administration to end temporary protected status (TPS) for an estimated 350,000 Haitian nationals following a Supreme Court ruling.

U.S. District Judge Ana Reyes ruled that a previous court order that “had stayed the effective date of Department of Homeland Security Secretary Kristi Noem’s Termination of the Designation of Haiti for Temporary Protected Status pending judicial review … is no longer in effect.”

But Reyes also denied the government’s request to halt discovery in the lawsuit that was filed over TPS in Haiti. She told the plaintiffs and the government to provide a new schedule in the order.

The Department of Homeland Security (DHS) last year said that around 350,000 Haitian nationals were living in the United States when Noem, who left the administration earlier this year, issued an order ending TPS for the country.

Multiple courts paused enforcement of the order before the Supreme Court in June ruled that the Trump administration could go ahead with rescinding the rule.

Before the judge’s Wednesday ruling at the U.S. District Court for the District of Columbia, Department of Homeland Security (DHS) Secretary Markwayne Mullin warned in an interview that Haitians under the program should leave the United States.

“We’re going after them right now … these individuals can either self-deport or we’ll arrest you and send you back. It’s that simple,” he said.

Under the Biden administration, TPS policies were expanded, allowing hundreds of thousands of people from Ukraine, Afghanistan, Venezuela, Haiti, and other countries to remain in the United States. The Trump administration has moved to revoke TPS for a number of countries, saying that the program was meant to be temporary.

Homeland Security officials said that the TPS program, which was set up under the Immigration Act of 1990, has become a magnet for illegal immigrants in recent years.

“Using TPS to grant temporary status to successive waves of new arrivals from a designated country may generate a significant pull factor for illegal immigration and act in tension with the congressional design,” the agency said in a Federal Register notice.

Meanwhile, DHS said in the Federal Register notice and in court papers that conditions in Haiti no longer justify the designation.

Illegal immigration from Haiti turned into a flashpoint during the 2024 election when vice presidential candidate JD Vance and presidential candidate Donald Trump referred to thousands of Haitian nationals who were living in Springfield, Ohio, generating complaints from residents.

During arguments before the Supreme Court, Geoffrey Pipoly, a lawyer for the plaintiffs, claimed that the TPS termination was due to President Donald Trump’s “racial animus towards non-white immigrants and bare dislike of Haitians, in particular.”

In the high court ruling, a 6–3 majority ruled that the president has the right to start deporting people from Haiti and Syria and that federal law usually bars judicial review of future TPS terminations or designations.

TPS was designated for Haiti in January 2010 following a major earthquake and was extended multiple times.

Tyler Durden Thu, 08/06/2026 - 15:45

Bus-Bomb Plot By Marxist 'Mad Max' Foiled Ahead Of Trump-Backed Colombian President's Inauguration

Less than a week after Colombian authorities blamed a Marxist-Leninist terrorist group for detonating a truck bomb outside police headquarters in the border city of Cúcuta, injuring 11 officers, security forces intercepted a bus carrying a massive bomb.

The local outlet Blu Radio reported that an intelligence operation by the National Police thwarted a "terrorist attack" when authorities intercepted a bus carrying 1,000 pounds of ammonium nitrate in Santander de Quilichao, about 30 miles from Cali.

President-elect Abelardo de la Espriella, a Trump-backed conservative who has pledged to restore law and order and wage war against far-left terror groups, will be sworn in before foreign leaders and senior U.S. officials on Friday.

The report noted that the bus bomb was orchestrated by the far-left, Marxist-Leninist guerrilla organization Revolutionary Armed Forces of Colombia (FARC) to "attack" the military during inauguration celebrations.

The major Colombian news outlet continued:

According to preliminary information, the vehicle had been modified to be used as a bus bomb and, according to the investigation, its objective was to attack military and police installations in Cali during the events related to the inauguration of President-elect Abelardo De La Espriella.

Authorities attribute the planning of the attack to the 'Jaime Martínez' Front, a structure of the Central General Staff of the FARC dissidents under the command of alias 'Iván Mordisco' and point to alias 'Max Max', identified as the main explosives expert of that organization, as responsible for preparing the vehicle.

Military intelligence also maintains that the action was ordered by alias 'Iván Mordisco' himself, with the purpose of generating a high-impact event during the inauguration day.

The vehicle was detonated by authorities. 

Autoridades frustran presunto atentado con 420 kilos de explosivos.https://t.co/ONfLs0N7ov pic.twitter.com/m5TMXEvz9j

— cartagoaldia (@cartagoaldia) August 5, 2026

El Tigre's rise to power comes amid a once-in-a-generation political shift from left-wing regimes controlling the Americas to a majority of right-wing governments closely aligned with the Trump administration. The State Department has pursued this strategy to secure the West, ensure countries align with the U.S. rather than China or Russia, and promote open and free markets over failed socialist ones.

Americas Political Map: Presidential Shift From Left To Right

Country-by-country presidential shift tracker

"For the first time in 15–20 years, the overwhelming majority of the countries in the Western Hemisphere are now led by pro-American leaders and governments since @POTUS was elected president," Secretary of State Marco Rubio stated last week with President Trump and Secretary of War Pete Hegseth.

It is important to note that the Trump administration has declared war on far-left groups throughout the Western Hemisphere - even those that run amok on U.S. soil.

Read:

• "Fatal Cancer On Civilization": Trump's War On Marxism Enters Action Phase As Rubio, Miller And Bessent Address 65 Nations

Colombia's far left, using violence to project power, should serve as a wake-up call to Americans that the far left in the U.S., including the DSA and Antifa, share one stated goal:

"The most important thing we can do is take that (American) empire down from within"

DSA leader Frances Gill makes it clear that their goal is to destroy America. pic.twitter.com/NBDyyEdvvE

— Canary Mission (@canarymission) August 5, 2026

“We might not even have a president.”

DSA leaders make it official: “It’s a requirement now” for endorsed candidates to support their radical program to dismantle the U.S. government. pic.twitter.com/BZ7Oo666AT

— Canary Mission (@canarymission) August 5, 2026

Achieving this will not be "mostly peaceful." With riots, intimidation, and attempted political assassinations already part of the threat landscape, the big question is how much far-left political violence Americans will tolerate before demanding a more forceful government response to combat revolutionary Marxist movements intent on destabilizing the nation from within.

Related:

• Bombshell Report Exposes Lefty NGOs Funding A Children's Charity Tied To Terror Network

These Marxist movements are one and the same worldwide; united in solidarity, they aim to destroy America and capitalism.

White House finally gets it. 

Communism is the greatest threat to our country.

— The White House (@WhiteHouse) August 5, 2026

Should've been a stated goal day one of the second term. 

Tyler Durden Thu, 08/06/2026 - 15:05

Global Diesel Crunch Deepens As Record US Distillate Exports Race To Supply-Starved Europe

US distillate exports surged to a record last week as global supplies tightened. Disruptions across the Gulf area and various surrounding maritime chokepoints, as well as Ukrainian one-way attack drone strikes that have paralyzed portions of Russia's energy infrastructure, have been a major boon for US refiners and export terminals along the Gulf of America.

To begin the week, Samantha Dart, co-head of global commodities research at Goldman Sachs, told Bloomberg TV, "The situation in Russia is really one thing that worries us a lot."

Dart warned, "I'd say on the oil side, as I mentioned before, diesel, I think is the oil product that is most vulnerable right now, not just because you have your seasonal demand strength ahead just in the winter, but on the supply side. And to your point in the beginning, it's not just that you run war, it's what's happening to the Russian refineries as well. And Russia is usually a pretty big exporter of diesel. And now they have restricted it."

Last month, Goldman analyst Daan Struyven warned that "Diesel is at the epicenter of the supply squeeze." 

As global supplies dwindle, US energy exporters on the Gulf of America emerged as the winners, shipping a record 1.9 million barrels to overseas customers last week.

Shipments have exceeded 1.5 million barrels a day for five consecutive weeks, with recent cargoes heading to northwestern European ports - the epicenter of a global diesel shortage caused by Gulf area refinery disruptions through Hormuz and Ukrainian attacks on Russian refining capacity.

The trade-off from surging diesel exports is that US distillate stockpiles have fallen to their lowest seasonal level since 1996, raising the risk of a tighter domestic market heading into the fall demand surge.

Must Read:

• "Diesel Is At Epicenter Of Supply Squeeze,": Goldman
• "Really Only One Thing Worries Us A Lot": Here's What Keeps Goldman's Commodities Guru Up At Night

Let’s not forget that Saudi Aramco CEO Amin H. Nasser warned that even if the Strait of Hormuz were reopened today, it could take up to 18 months to replenish global inventories.

All told, America is once again rescuing Europe from a deepening energy crunch - first LNG - this time diesel. You're welcome.

Tyler Durden Thu, 08/06/2026 - 14:05

New Mexico Sues DOJ For Unredacted Epstein Files

Authored by Matthew Vadum via The Epoch Times,

New Mexico is suing the Department of Justice (DOJ) over unredacted Epstein files, accusing the federal agency of stonewalling the state’s own investigation into alleged crimes at deceased sex offender Jeffrey Epstein’s Zorro Ranch.

The legal action, filed Aug. 5, intensifies a politically charged fight over the DOJ’s Epstein files, which have been accumulating since investigations into Epstein began in the mid-2000s.

New Mexico reopened its investigation in February and is seeking access to files relating to who worked at and visited Epstein’s Zorro Ranch in Santa Fe County, New Mexico, and may have participated in or witnessed crimes.

The DOJ said it has handed over some of the files but is prevented by law from releasing others due to privacy protections.

“The Epstein Files Transparency Act does not require, and the protective orders in place in the Southern District of New York do not permit, disclosure of victim-identifying information carte blanche, and New Mexico has provided no lawful basis to justify such sweeping disclosures,” a DOJ spokesperson told The Epoch Times of its reasons for opposing the lawsuit.

The 2025 Epstein Files Transparency Act required the DOJ to release all unclassified records and investigative materials related to Epstein and his alleged sex trafficking network. The department was allowed to make redactions to safeguard the privacy of alleged victims or to shield ongoing investigations.

“Protecting victim privacy remains a top priority for the Department, and neither Touhy requests nor a desire to cooperate outweighs that privacy,“ the spokesperson said. ”DOJ remains available to assist New Mexico’s investigation consistent with the law and binding court orders.”

According to the complaint, the federal government has acknowledged that “Epstein and his criminal network subjected over 1,000 survivors to egregious and predatory conduct, including vulnerable young girls in New Mexico.”

New Mexico initially made informal requests to the DOJ for unredacted files. The federal agency had promised cooperation, including information sharing on alleged survivors ​and crimes, and told the state to formally file Touhy requests, used for accessing official information, testimony, or documents from a federal entity for use in a legal proceeding in which the U.S. government is not a party.

The complaint said the DOJ rejected the Touhy requests earlier this year. By failing to cooperate, DOJ officials are harming “victims and [undermining] the public interest” by holding up the state’s investigation of the conduct of Epstein and his co-conspirators at Zorro Ranch, it argued.

In 1993, Epstein bought Zorro Ranch and visited the state many times before he died in 2019.

According to state prosecutors, the Epstein files contain more than 13,000 references to the ranch, along with 5,000 references to locations in the state where victims were allegedly trafficked, assaulted, and groomed.

New Mexico alleges the DOJ has failed to properly handle its Touhy requests and violated the Administrative Procedure Act governing administrative law procedures, citing the agency’s refusal to honor its 2019 agreement in which federal prosecutors promised to cooperate with the state after it put its Epstein probe on hold.

New Mexico Attorney General Raul Torrez has “marched through every bureaucratic hoop USDOJ has demanded, only to have years of promised federal cooperation turned into bureaucratic defiance,” the complaint said.

In a call with reporters, Torrez said of the state’s investigation, “We haven’t charged someone because we need to see those files before ‌we charge ⁠someone.” He said the probe faces considerable obstacles, noting the decades since Epstein’s alleged crimes, the change of ownership of the ranch in ​2023, and jurisdictional issues.

New Mexico’s lawsuit was filed in federal district court in the nation’s capital.

Tyler Durden Thu, 08/06/2026 - 13:25

Change Of Plans?

By Bas van Geffen, Senior Macro Strategist at Rabobank

Brent prices held steady just below the $80-level, as Iran said it reached an agreement with Oman on a proposed shipping route through the Strait of Hormuz. That’s not the Iran-US deal that Trump had been eyeing, but this agreement raises the prospect of more energy flows resuming through the critical waterway.

However, Iran has also said that the deal does not work until the US stops blocking traffic. We are yet to hear when the US lifts its blockade on Iranian ships – if Trump does not revert to threats of air strikes instead. The course of events once again underlines Iran’s relatively strong negotiating position.

Days after the Japanese Ministry of Finance –and the US Treasury– intervened in FX markets to prop up the yen, the cabinet approved a plan to cut the sales tax on food for two years. On top of that, the government is planning handouts to lower-income households. High costs of living are weighing on PM Takaichi’s popularity. So, she wants to lessen the price pressure on households, but these tax measures may shift those pressures elsewhere.

The tax cut costs JPY 4 trillion (around 0.6% of GDP) in lost revenues annually, and the government did not specify how it would fund this shortfall. The prime minister tried to reassure investors that the measures are temporary, and Finance Minister Katayama pledged to refrain from financing this tax cut through Japan’s deficit.

The unfunded tax plan has drawn criticism from both the opposition and people within the ruling LDP, as well as market participants - although today’s 30-year bond auction showed little sign of concern or investor fatigue. Having said that, the real litmus test may be the currency.

Over the past couple of days, the yen has been gradually depreciating again after the joint US-Japan intervention briefly pushed USD/JPY below 156 on Friday. The FX market is probably watching for signs of new interventions, or signs of more structural support for the currency.

Yet, these tax cuts do not lead to investments that could structurally improve Japan’s economic growth – which could have lent JPY some of the necessary support. But, paradoxically, the cost of effective growth-enhancing policies would probably eclipse the budgetary implications of Takaichi’s food tax cuts.

Former prime minister, and advisor to the current PM, Kishida warns of this as well. He advocates a JPY 370 trillion long-term growth strategy, which he believes could largely be funded by Japan’s large amounts of private financial assets: “If we limit our thinking to the government’s own fiscal resources, then that’s the end of it.” He argues the government should merely function as a catalyst for these investments, rather than pony up all the funds.

If the government manages to convince Japanese households, companies, and pension funds, the plans could see Japan clash with allies. These funds are currently invested elsewhere, and the structure of the recent JPY intervention suggests that Washington does not like the idea that Japan could start selling its Treasury holdings. The US Treasury sold euros, rather than dollars, for yens, and it also suggested Japan make use of the Fed’s FIMA (repo) accounts, instead of selling dollar assets outright.

Besides that, the growth strategy itself could also lead to conflicts: Kishida suggests the Japanese economy could benefit from investments in semiconductor and AI industries. Even if these sectors continue to grow in the coming decade, that strategy competes directly with the direction of, say, US, EU, and Chinese policies targeting homegrown chips and AI.

Elsewhere, Fed Chair Warsh is reportedly still in close contact with Trump. The US president discussed the economic implications of various matters, such as the Iran war or AI. It is an unusually close connection between the White House and the Eccles Building compared to their predecessors.

The Wall Street Journal’s sources suggest that these informal calls were mainly Trump seeking council from the Fed chair. Whether that’s true or not, it confirms what our US strategist has been saying: the FOMC will probably be more aligned with the White House going forward.

The Dutch government has endorsed Klaas Knot’s candidacy for ECB president. The Spanish government had already put forward his former colleague De Cos. So, with two candidates in the running, the race to find Lagarde’s replacement is now officially on.

Tyler Durden Thu, 08/06/2026 - 12:45

"Threat Against American Interests": US Halts Michoacán Avocado Inspections, Putting Critical Supplies At Risk

The US suspended avocado inspections in Mexico's Michoacán state after the US Embassy cited a "threat against American interests." Because Michoacán is Mexico's largest avocado-producing region and a top supplier to the US market, any prolonged suspension risks disrupting imports and driving supermarket prices sharply higher.

Michoacán Gov. Alfredo Ramírez Bedolla said on social media that the temporary halt to inspections was intended to safeguard workers following recent arrests linked to extortion, according to AP News.

Michoacán supplies about 75% to 80% of Mexico's avocados, while Mexico accounted for more than 80% of US avocado imports in 2025, valued at over $3 billion.

Supplies from Peru, California, and Mexico's Jalisco state could limit shortages and price increases if the suspension is brief, Rabobank analyst David Magana said. 

Wholesale prices for first-quality Michoacán Hass avocados sold at Mexico City's Central de Abasto have nearly doubled in recent months, signaling tightening conditions in Mexico's domestic supply chain even before the latest inspection disruption.

"These alternative sources should help mitigate supply shortages and limit upward pressure on prices, particularly if the suspension is temporary," Magana noted.

AP said that the western state of Michoacán is home to four narcoterrorist cartels that make money through drug trafficking, extortion, and even the avocado industry.

The duration of the disruption will determine the extent of upward pressure on US wholesale avocado prices and how quickly those increases filter through to supermarket shelves.

 

Tyler Durden Thu, 08/06/2026 - 12:05

Moderna's mRNA Flu Vaccine Approved By FDA

Authored by Rachel Roberts via The Epoch Times,

The U.S. Food and Drug Administration has approved Moderna's flu shot for over-50s, marking the first time the agency has licensed a messenger ribonucleic acid (mRNA) vaccine for seasonal influenza.

Moderna bivalent COVID-19 vaccine at a clinic, in Richmond, Va., on November 17, 2022. AP Photo/Steve Helber, File

The shot, known as mFlusiva, was given a traditional approval for adults aged 50 to 64, and an accelerated approval for the over-65s, the pharmaceutical giant said on Wednesday.

Moderna has agreed to run an additional study and submit further data on the over-65s in a bid to demonstrate the vaccine's benefit for that age group.

The approval was based on data from a late-stage trial involving more than 40,000 adults aged 50 and older, which found the shot was 26.5 percent more effective than a licensed standard-dose flu vaccine.

Moderna had to submit separate late-stage data showing the shot generated stronger antibody responses than Sanofi's high-dose flu vaccine in the over-65s after problems with the methodology in its phase 3 trial.

The vaccine uses mRNA technology, intended to prompt the body to produce influenza antigens and trigger an immune response. Scientists say this approach could potentially allow faster updates of the shot to match the ever-shifting circulating strains.

Health Secretary Robert F. Kennedy Jr., who oversees the FDA, announced in August 2025 that the Department of Health and Human Services (HHS) was winding down mRNA vaccine development activities under the Biomedical Advanced Research and Development Authority. He said that funding would be redirected away from developing mRNA vaccines toward "safer, broader vaccine platforms that remain effective even as viruses mutate."

Several FDA officials who had voiced opposition to mRNA vaccines have recently departed the agency.

Flu vaccines can range in effectiveness depending on the season, peaking at 60 percent and dropping to as low as 10 percent in the 2004-2005 season, according to estimates from the Centers for Disease Control and Prevention.

The CDC and the FDA both recommend annual vaccines for everyone in the United States, including babies once they are 6 months old.

'Important New Option'

"Flu remains a significant public health challenge, and mFLUSIVA provides an important new option for America's seniors," Moderna said in an Aug. 5 statement.

MFlusiva will compete with existing flu vaccines from Sanofi, GSK, CSL Seqirus, and AstraZeneca. Conventional flu shots are largely egg-based and contain viral proteins.

Officials in the spring try to predict which strain of flu will be circulating in the following virus season, primarily in the fall and winter, giving manufacturers about six months to produce shots with updated formulations.

This process can result in a mismatch between targeted and circulating strains, an issue that the FDA and Moderna said the mRNA shot could address.

Higher Rates of Adverse Events

The trial found the Moderna flu shot caused higher rates of adverse events in recipients than the already available vaccines, with side effects including fatigue, headaches, and muscle pain. Serious adverse events were reported in 2.2 percent of the recipients of the mRNA vaccines - with three events considered by the investigator to be vaccine-related - and in 1.9 percent of those who received the standard-dose comparator vaccine.

Vaccines containing mRNA are cleared in the United States for COVID-19 and respiratory syncytial virus.

The FDA in 2025 narrowed the approval for Moderna COVID-19 vaccines, known as Spikevax, and for Pfizer-BioNTech's rival shot, known as Comirnaty, both of which use mRNA technology.

A French peer-reviewed study published in 2022 concluded that mRNA COVID-19 shots from Pfizer and Moderna were found to increase the risk of both myocarditis and pericarditis, particularly in adolescent and young adult males after the second dose.

Moderna withdrew its application for a COVID-flu combination shot last year after the FDA sought additional evidence demonstrating the effectiveness of its flu component. European regulators in April approved the combination shot.

Lost Revenue

Moderna had been counting on the combined shot and the flu vaccine to replace some of the lost COVID vaccine revenue and to prove the long-term commercial potential of mRNA technology.

Jefferies analysts had forecast $750 million generated from U.S. sales of Moderna's flu shot and its combination COVID-flu vaccine by 2030.

FDA reviewers said on June 16 that uncertainties remained about the efficacy of mFLUSIVA, then known as mRNA-1010 before its approval, due to an issue with trial methodology.

The phase 3 trial compared the immunogenicity and clinical results in a group that received Moderna's vaccine with the results from a group that received an authorized, standard flu vaccine.

The U.S. government, though, recommends a higher-dose flu vaccine than a standard shot for adults aged 65 and older.

In a 92-page document, FDA reviewers said, "This limitation affects interpretation of the net clinical benefit in the 65 and older population and is a key issue for Advisory Committee deliberation."

Other lingering questions included vaccine safety, given that adverse reactions were more common among mRNA-1010 recipients, the report said.

Moderna Connections

Multiple FDA committee members who voted in favor of the approval have connections to Moderna, including El Sahly and Dr. Flor Munoz, who was a Moderna adviser from 2022 to 2024 and played a role in recommending that pregnant women should receive COVID-19 vaccines.

Moderna's withdrawal of its combined Flu and COVID-19 shot came amid heightened FDA scrutiny of vaccines under the agency's previous leadership.

Former FDA Commissioner Marty Makary and former vaccine chief Vinay Prasad departed the agency earlier this year.

Makary had faced criticism from companies, lobbyists, and others for agency officials declining to approve certain drugs, including a cancer drug made by Replimune. Makary had defended the decisions in television interviews as following the evidence.

Signage outside of the Food and Drug Administration headquarters in White Oak, Md., on Aug. 29, 2020. Andrew Kelly/Reuters Tyler Durden Thu, 08/06/2026 - 11:45

Camp David Clash: Trump Hammered Hegseth For Misleading Him On Arms Supply, WaPo Reports

Following reports that US forces have "used up virtually all" of their precision, long-range missiles in futile attempts to first trigger an Iranian regime change and then to compel Iran to open the Strait of Hormuz, now comes reporting that an angry President Trump confronted Defense Secretary Pete Hegseth in recent days, accusing the Pentagon of misleading him on critical munitions shortages that leave Trump increasingly powerless in the five-month-old fiasco of a war. 

According to sources cited by the Washington Post, who spoke on condition of anonymity due to concern about retaliation, Trump's ire erupted alongside a cabinet meeting held Friday at Camp David. Trump expressed consternation that he'd been assured that the weapon shortage "had been fixed" when that is apparently far from true.     

The Post's administration sources portrayed Hegseth as one of the biggest and most persuasive proponents of launching a regime-change war on Iran (Photo: The Hill)

According to "multiple officials" who -- reading between the lines -- clearly seem to have had it with Fox News talking-head-suddenly-turned-Defense-secretary, Hegseth defended his own actions and tried redirecting the blame to Deputy Defense Secretary Steve Feinberg, a billionaire GOP donor whom Trump plucked out of his role as co-CEO of Cerberus Capital Management to give him the number-two job at the Pentagon. Hegseth was said to have thrown Feinberg under the bus for both the shortages and failing to keep Trump fully informed.  

The officials characterized Trump as increasingly exasperated by Hegseth, whom they describe as one of the most enthusiastic supporters of launching a war on Iran, saying he persuaded Trump that victory would come quickly and easily. The war that the administration once projected to last three or four weeks is now in its sixth month. Iran has used both its sophisticated missile technology and its inexpensive but huge arsenal of drones to wreak havoc on US and allied forces around the Gulf. Hammered by a shock and awe campaign peppered with the multiple incidents involving mass casualties among innocents -- including scores of elementary schoolgirls -- the Iranian people have rallied around the Islamic regime, for all its faults. At least 18 US service members lay dead, several hundred have been wounded, and some estimates of the war's cost to date exceed $100 billion.  

Sources tell Reuters the Pentagon has blown through "virtually all" of its long-range ATACMS missiles 

The White House and Pentagon denied the account given by the Washington Post's sources. “This is 100% fake news. Literally never happened. And President Trump has the utmost confidence in Secretary Hegseth,” White House press secretary Karoline Leavitt told the Post. Speaking more broadly, Pentagon chief spokesman Sean Parnell said "claims about depleted stockpiles, internal disagreements, [and] the Secretary’s position on Iran" are "fictional." As for Hegseth's job security, Parnell said he "isn't going anywhere."

On Tuesday, Reuters reported that the US munitions crisis is even worse than previously understood. In particular, the Army Tactical Missile Systems (ATACMS) and Precision Strike Missiles (PrSM) are said to be running critically low. "Washington has used virtually all of these weapons," two sources told Reuters, after several media reports and think tank studies had already sounded the alarm over dwindling missiles amid both the Iran war and in the years-long process of supplying Ukraine. Low Patriot defense missile supplies have also been a persisting issue in the headlines.

Over the weekend, Trump's backtracking on his threat to launch “the biggest attack since World War II" was widely attributed to Saudi Crown Prince Mohammed bin Salman urging Trump to refrain, fearing a large attack would accomplish little more than triggering massive and devastating retaliation against the kingdom and other Gulf states. Trump's calculus also likely reflected Pentagon warnings about its shrinking capacity to attack. On Saturday, the Post reported that the commander of US European Command told superiors, in writing, that his forces were stretched thin, and that he might be put in a position where he'd have to choose between defending his "homeland" or the State of Israel.

His candor was praiseworthy, but it may have put a dent in his prospects for advancement. 

Tyler Durden Thu, 08/06/2026 - 11:25