Aggregator
The ‘America-worst’ crowd cheers for China — but here’s what they forget
UK police bosses say unsafe social media platforms should be blocked for under-16s
Seattle’s Katie Wilson could teach Mamdani about swallowing socialist pride
‘Hocus Pocus’ star Thora Birch comes out as bisexual
‘Hocus Pocus’ star Thora Birch comes out as bisexual
Joe Schoen cements role as Giants GM with multiyear extension
Vandal beheads Jesus Christ statue at Long Island church but cops step in to restore it
Turkey Markets Crash After Court Unseats Opposition Head In Latest Erdogan Power Grab
Shortly after we learned that Turkey had sold virtually all of its Treasuries in March to defend the lira after the Iran war broke out, the country was thrown into fresh political turmoil on Thursday when a Turkish court removed the leader of the country’s main opposition party in a landmark ruling that triggered a stock market crash, including one marketwide halt, and could strengthen President Recep Tayyip Erdogan’s grip on power while further alienating foreign capital.
The Ankara appeals court annulled the results of the 2023 congress of the Republican People’s Party, known by its Turkish initials CHP, the party’s deputy chairwoman Gul Ciftci told Bloomberg on Thursday. The decision voids the election of Ozgur Ozel as CHP chairman. The party can appeal the ruling.
The decision reinstates the CHP’s previous administration, including former party leader Kemal Kilicdaroglu, who lost a presidential race to Erdogan in 2023. The ruling also effectively cancels all decisions made by the party since the 2023 congress, according to the verdict.
By further hollowing out the political opposition and hampering the CHP’s efforts to secure the release of Imamoglu, Erdogan’s most prominent political rival, the decision eases the president’s ability to tighten his grip on power. Imamoglu has been behind bars since March 2025. Although he’s the CHP’s presidential candidate for elections slated for 2028, he may not be eligible for the ballot due to the cancellation of his university diploma.
Turkish stocks plunged after the court decision, with the benchmark Borsa Istanbul 100 Index closing 6.1% down. The sharp decline triggered a market-wide circuit breaker. Five-year credit default swaps rose 12 basis points to 253 basis points, while the lira was little changed and trading at 45.6133 per US dollar as of 6:09 p.m. Istanbul time although with little reserves left to defend the currency, we expect a painful and sharp devaluation in the coming weeks.
“While the central bank still has enough reserves to maintain the current policy framework, the buffer is wearing thin,” said David Austerweil, emerging-markets deputy portfolio manager at Van Eck Associates Corporation.
The decision paves the way for a comeback by former party leader Kemal Kilicdaroglu, potentially derailing CHP unity in the run-up to the next presidential elections, which is currently set for 2028 but expected earlier. According to Bloomberg, it may also hamper the party’s efforts to secure the release of jailed Istanbul Mayor Ekrem Imamoglu, Erdogan’s most prominent political rival.
The biggest impact, however, was on the Turkish markets which were already strained by the fallout of the Iran war. As reported earlier, to support the lira, monetary authorities offloaded almost all of the country’s US Treasuries in March.
They have also sold much of the country's gold reserves, tightened liquidity, made lira funding costlier and asked state-run lenders to intervene in the currency market. The ruling on Thursday will likely put further pressure on Turkish assets and send the lira into a tailspin.
Ironically, the decision came while Finance Minister Mehmet Simsek and Central Bank Governor Fatih Karahan were in London courting investors. Both figures have been trying to attract foreign investment since taking over Turkey’s economic management in 2023. Their efforts were hampered after the arrest of Imamoglu last year, which led to a foreign investor exodus.
Hundreds of CHP figures have been detained since the 2024 elections, including the leaders of large cities. More recently, Erdogan's regime detained the mayor of Bursa, the country’s fourth-largest city, on charges of corruption and launched a probe against Ankara’s popular mayor, Mansur Yavas, over the alleged misuse of state resources. Like Imamoglu, Yavas is also seen as a potential presidential candidate. Opposition figures have said such charges are politically motivated.
In September, a court removed the CHP’s Istanbul leadership over allegations of corruption and appointed Gursel Tekin - a former Istanbul party chief and ally of Kilicdaroglu - as trustee, another move that unnerved markets and triggered a selloff.
“The decision is an opportunity to unite,” Kilicdaroglu wrote on X after the ruling, having effectively reclaimed the party’s leadership. He had published a video the day before in which he spoke about the need to root out “corruption” within the CHP.
The ruling “will dent further risk appetite for TRY carry trades,” said Guillaume Tresca, an emerging market strategist at Generali Asset Management SpA. “Turkey is a trickier position than before.”
Turkey's five-year credit default swaps - a barometer of risk sentiment and odds of sovereign default - rose 19 basis points to 261 basis points.
Tyler Durden Thu, 05/21/2026 - 18:50Lakers’ Bronny James has better golf swing than LeBron
The best Memorial Day steal could be these Bath & Body Works BOGO candles
Kyle Busch asked for medical help during race weeks before shocking death
Carjacker named Jason Butt-Champagne fatally beat one-legged amputee: cops
Jaxson Dart ‘dreaming’ of Giants replicating Knicks’ joy for fans in ‘the best place to win’
We Are 6 Months From Global Food Shortages Because Farmers Are Facing A Quadruple Whammy Crisis
Authored by Michael Snyder via TheMostImportantNews.com,
We have never faced anything quite like this. Diesel fuel and fertilizer have become far more expensive as a result of the conflict in the Middle East, and extreme weather is playing havoc with crops all over the planet. Here in the United States, we just experienced the driest first three months of a year in recorded history. No, that isn’t an exaggeration. Now a “Super El Niño” is coming, and that means that drought conditions are going to get even worse in many areas of the world. The “Super El Niño” of 1877-1878 resulted in widespread droughts that killed more than 50 million people, and now we are being warned that the upcoming “Super El Niño” could be even worse. Our farmers have never faced a “perfect storm” of this magnitude, and global food production is going to be way down in the months ahead.
The UN’s Food and Agriculture Organization is publicly warning that a severe global food crisis could strike about 6 months from now if something really dramatic does not happen…
The closure of the Strait of Hormuz could trigger a severe global food price crisis within six to 12 months unless governments act quickly, the Food and Agriculture Organization warned Wednesday.
Decisions now by farmers and governments on fertilizer use, imports, financing and crop choices will determine whether food prices spike later this year or in early 2027, the agency said.
I don’t know what national governments around the world are supposed to do.
They can’t create fertilizer out of thin air.
Thanks to the closure of the Strait of Hormuz by Iran, millions of farmers all over the northern hemisphere didn’t get the fertilizer that they needed for the spring planting season.
UNDP Administrator Alexander De Croo is telling us that as a result “many places in the world will have problems of food shortage” once harvest season arrives…
Food shortages are expected to hit many parts of the world from September or October following a fertilizer production plunge, the U.N. Development Program’s head said on Monday.
“In September, (or) October, many places in the world will have problems of food shortage,” as agricultural production is expected to be much lower following the fertilizer production slump resulting from high oil prices amid Middle East conflicts, UNDP Administrator Alexander De Croo said in an interview in Tokyo.
Even if fertilizer is available, many farmers simply cannot afford it.
In fact, one recent survey discovered that 70 percent of U.S. farmers could not afford to buy all of the fertilizer that they needed for the spring planting season because it has become so expensive.
Meanwhile, diesel has become painfully expensive as well.
Virtually all farm equipment runs on diesel, and as I write this article the average price of a gallon of diesel in the U.S. is sitting at about five and a half dollars.
But in California, the average price of a gallon of diesel has reached nearly seven and a half dollars…
According to AAA, the average price for diesel fuel in California is about $7.43 per gallon, which is $2.36 higher compared to last year. In Fresno, prices are slightly higher.
“In Fresno, you’re paying about $6.06 for a gallon of regular gasoline, but you’re paying $7.48 for a gallon of diesel,” Johnson said.
You may not care about what is happening in California, but you should because California produces more fruit and more vegetables than any other state by a very wide margin.
Drought is another major problem that U.S. farmers are dealing with.
In West Texas, the cracks in the ground caused by endless drought are big enough to swallow an entire human hand…
Scott Irlbeck crouched in a field of stunted wheat plants in a parched stretch of West Texas and slipped his hand into a crack wide enough to swallow it.
Last autumn, Irlbeck planted a crop that barely grew because rain never came. He now hopes his insurance adjuster will declare it a total loss so he will not need to spend money on pricey fuel to harvest it next month.
Coming into this year, the southwestern portion of the nation was experiencing the worst multi-year drought in at least 1,200 years.
And then the first three months of this year were the driest first three months of a year for the entire country ever recorded.
As a result, it is being projected that the winter wheat harvest will be a disaster…
Crop estimates underscore just how bad the situation is. Growers will see their smallest wheat crop in terms of production since 1972, according to the U.S. Department of Agriculture; 1.56 billion bushels this year, down 21% from 2025. That’s especially harmful to Kansas, one of the top overall producers of wheat in the U.S.
This year, only 22 million acres of winter wheat will be harvested, and the abandonment rate is above 32 percent…
Only 32.4 million acres (13.1 million hectares) of wheat were planted this year to begin with, and harvested acreage hit just 22 million, marking abandonment, which is when farmers stop tending to a crop before harvesting, at slightly above 32% of this year’s wheat crop, according to USDA estimates.
Just think about those numbers for a moment.
Our farmers simply gave up on nearly a third of this year’s winter wheat crop.
Wow.
Looking ahead, we are being told that the number of acres of wheat that U.S. farmers are planting in the spring will be the fewest “since record keeping began in 1919”…
U.S. growers were poised to plant the fewest acres of wheat since record keeping began in 1919, as high costs for fertilizer, seeds, and equipment have made it difficult to turn a profit.
In 1919, there were 104 million people living in the United States.
Today, there are more than 340 million people living in the United States.
It doesn’t take a math genius to figure out that we are headed for trouble.
And now a “Super El Niño” is looming…
A “Super El Niño” may be on its way and could impact weather in the United States and worldwide for the next several months.
El Niño is described by the National Weather Service (NWS) as “a state where the water temperatures in the Pacific Ocean near the equator become abnormally warm.” These warmer waters trigger significant weather pattern changes across the globe.
One expert is warning that there is approximately a 50 percent chance that this “Super El Niño” will be the most powerful ever recorded…
“I would suggest there is roughly a 50 per cent chance of the event becoming the strongest in the historical record right now,” Paul Roundy, a professor of atmospheric science at the University at Albany, in the US, told BBC Science Focus. “A few weeks ago, I was suggesting maybe 20 per cent.”
In a previous article, I discussed the fact that the “Super El Niño” of 1877-1878 caused widespread global famines that resulted in the deaths of 50 million people.
So how many will die during the “Super El Niño” that will begin later this year?
According to the UN, the number of people around the world there were experiencing acute hunger was already at an all-time record high even before the war with Iran started.
Now global hunger is spiking, and when people get really hungry they get really desperate.
For example, just check out what is going on in Afghanistan…
Khwaja Ahmad barely gets out a few words before he starts sobbing.
“We are starving. My older children died, so I need to work to feed my family. But I’m old, so no one wants to give me work,” he says.
When a local bakery near the square opens up, the owner distributes stale bread among the crowd. Within seconds, the loaves have been pulled apart, half a dozen men clutching onto precious pieces.
This should break your heart.
One extremely hungry man in Afghanistan says that he is willing to sell his own daughters just so that he will have enough money to buy food…
Abdul Rashid Azimi takes us into his home and brings out two of his children – seven-year-old twins Roqia and Rohila. He holds them close, eager to explain why he’s making unbearable choices.
“I’m willing to sell my daughters,” he weeps. “I’m poor, in debt and helpless.
“I come home from work with parched lips, hungry, thirsty, distressed and confused. My children come to me saying ‘Baba, give us some bread’. But what can I give? Where is the work?”
This is what is already happening.
Six months from now, the level of desperation around the world will be so much worse.
We need the Strait of Hormuz to be reopened as soon as possible, but that simply is not going to happen.
The Iranians are never going to give President Trump what he wants, and they are preparing for the next phase of the war…
Iranian parliament speaker Mohammad Bagher Ghalibaf claimed Wednesday that the U.S. is looking to “start a new war,” a report said.
“The enemy’s movements, both overt and clandestine, show that despite economic and political pressure, it has not abandoned its military objectives and is seeking to start a new war,” Ghalibaf said in a statement shared by Iranian media, according to The Times of Israel.
“Close monitoring of the situation in the United States reinforces the possibility that they still hope for the surrender of the Iranian nation,” he reportedly added.
The next chapter of this war is not going to look like the last chapter.
The IRGC is openly telling us that they are ready to attack “in places you cannot even imagine”…
Iran’s Revolutionary Guards warned on Wednesday that any new attack on the country would provoke them to spread the war beyond the Middle East, raising the stakes of diplomatic efforts to end the conflict.
In a statement reported by Iranian state media, the Islamic Revolutionary Guards Corps, a powerful military force that answers directly to the country’s supreme leader, said that if “aggression against Iran is repeated,” it would deliver blows “in places you cannot even imagine.”
The Iranians know that they cannot win the war by fighting symmetrically.
So they are going to use asymmetric tools to get the job done.
And some of those asymmetric tools will not be conventional.
When fighting erupts again, I expect things to get really crazy.
What this means is that the Strait of Hormuz is going to remain closed for a long time, and that is really bad news for farmers all over the globe.
Michael’s new book entitled “10 Prophetic Events That Are Coming Next” is available in paperback and for the Kindle on Amazon.com, and you can subscribe to his Substack newsletter at michaeltsnyder.substack.com.
Tyler Durden Thu, 05/21/2026 - 18:25