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Zero Rss

Supreme Court To Decide Legality Of Trump Administration's ICE Detention Policy

Zero Rss
1 day 17 hours ago
Supreme Court To Decide Legality Of Trump Administration's ICE Detention Policy

Authored by AG News Staff via American Greatness,

The Supreme Court agreed Thursday to hear a major immigration case challenging the Trump administration's expanded mandatory detention policy, setting up a consequential ruling on federal immigration enforcement.

The case centers on the administration's interpretation of a 1996 immigration law requiring mandatory detention for individuals who recently entered the United States illegally. Under previous administrations, including President Donald Trump's first term, the provision generally applied to recent border crossers.

Last year, the administration broadened its interpretation to include illegal immigrants who have lived in the country for years, requiring detention while their immigration proceedings remain pending.

The policy has encountered significant judicial resistance. According to a Politico analysis, "more than 460 federal judges have rejected Immigration and Customs Enforcement detention decisions more than 20,000 times over the past 14 months."

The administration maintains that its expanded enforcement policy is consistent with federal immigration law. Opponents argue that Congress never intended the 1996 statute to authorize mandatory detention of longtime residents without providing an opportunity to seek release while their cases proceed.

The Supreme Court will review a decision from the New York-based 2nd U.S. Circuit Court of Appeals, which became the first appellate court to reject the administration's interpretation. The justices will focus on the statutory meaning of the immigration law rather than the broader constitutional questions raised by the Justice Department.

The decision could have sweeping implications for ICE's ability to detain illegal immigrants nationwide as the Trump administration continues its immigration enforcement efforts.

The Supreme Court's new term begins Monday.

Tyler Durden Mon, 10/05/2026 - 17:40
Tyler Durden

Turkish Cargo Ship Sunk By Drone Strike Off Romania, Two Sailors Killed

Zero Rss
1 day 17 hours ago
Turkish Cargo Ship Sunk By Drone Strike Off Romania, Two Sailors Killed

There's no doubt that the tit-for-tat war on Black Sea shipping is getting nastier. For several months now, both Russian and Ukrainian forces have traded drone and missile attacks on ports and ships, disrupting vital Black Sea trade.

For Ukraine this national transit lifeline is even more important amid its war time economy. A major incident has unfolded Monday after an alleged direct hit by Russian drone on a Turkish cargo ship carrying grain from a Ukrainian port.

Screengrab from rescue footage of the Royad Mammadov sinking off Romania's coast.

Two crew members died, while eleven others were rescued, and with another reported missing. Ukraine quickly blamed Russia for the attack.

Romanian vessels and helicopters conducted the large rescue operation off national waters, some 20 miles from the NATO member's shore.

The Saint Kitts and Nevis flagged ship - identified as the Royad Mammadov - eventually sunk as a result of the attack after catching fire in the wake of the initial drone impact and blasts.

It had reportedly been headed out of the Ukrainian port of Ismail in the Odesa region navigating towards Ravenna, Italy when it came under assault.

Ukraine's President Zelensky laid direct blame on Russia. "A horrific strike by two Russian drones on a civilian vessel in neutral waters carrying corn and owned by Türkiye. Azerbaijani and Indian citizens were on board," he wrote on X.

"As of now, unfortunately, we know that the ​ship's captain was killed. My condolences. The fate of one other person is still being ‌established. Eleven ⁠crew members were rescued, one of them injured," he added.

While Russian authorities did not comment or own up to the specific attack, the Russian Defense Ministry did announce hours earlier that its forces had struck two cargo vessels, according to Reuters.

Surreal footage showing large cargo ship about to go under the water amid high-risk rescue operation:

Another merchant vessel has been sunk in the Black Sea. The Royad Mammadov, carrying grain from Ukraine’s Izmail to Ravenna, Italy, caught fire and sank after being struck by a drone on Oct. 5. Two crew members were killed, 11 rescued. The vessel was Turkish-operated and went down in Romania’s EEZ, about 30 nautical miles south of Sfântu Gheorghe. This is what the Black Sea #grain risk looks like now. What does this mean for regional grain exports and #wheat prices? Our view: https://t.co/m4IIeeRsmT #Ukraine #blacksea #oatt

— Andrey Sizov (@sizov_andre) October 5, 2026

These attacks on Black Sea shipping have been steadily ramping up all summer. With roughly 90% of Ukrainian grain and sunflower shipments departing from the primary port cluster of Odesa, Chornomorsk, and Pivdenne, the fallout on Ukraine's agricultural sector has been severe.

Moscow seeks to sever military supply routes and disrupt arms shipments bound for Ukraine, but this has also obviously resulted in damaged and sunken tankers, auxiliary vessels, and even deaths of civilian bystanders among international shipping crew. It has accused Ukraine of seeking to hide military shipments under the guise of civilian cargo transit.

OCTOBER ONLY.$10 OFFYOUR NEXT ORDER.$30 min. Ends Oct 31. One per customer.GET MY $10 OFF →Signs you up for ZeroHedge Store emails. Can't be combined. Every order helps support ZeroHedge. Tyler Durden Mon, 10/05/2026 - 17:20
Tyler Durden

IRS Employees Caught Snooping Through Tax Records Of Public Figures, Watchdog Finds

Zero Rss
1 day 17 hours ago
IRS Employees Caught Snooping Through Tax Records Of Public Figures, Watchdog Finds

Authored by AG News Staff via American Greatness,

An internal investigation has uncovered widespread failures at the Internal Revenue Service after dozens of employees were flagged for suspiciously accessing confidential taxpayer records, including those belonging to government officials, business leaders and entertainers.

A report released Tuesday by the Treasury Inspector General for Tax Administration (TIGTA) identified 86 suspicious instances involving 52 IRS employees accessing the records of 30 taxpayers between 2022 and 2025.

The findings raise fresh concerns about taxpayer privacy, government accountability and the IRS's ability to safeguard Americans' sensitive financial information.

"The IRS's UNAX [unauthorized access] program is not adequately addressing the risk of unauthorized access to taxpayers' accounts," the watchdog concluded.

Investigators also identified 22 employees who were not terminated despite improperly accessing taxpayer information without authorization or consent.

The report revealed additional failures involving taxpayer notifications. The IRS failed to inform 175 taxpayers that employees had improperly accessed their records because agency personnel did not follow established procedures.

Another 101 taxpayers were never notified because the responsible employees resigned or retired before disciplinary action was proposed.

TIGTA issued eight recommendations, including strengthening security systems, restricting employee access to sensitive database functions and reinforcing the legal consequences of intentionally accessing taxpayer records without authorization.

The IRS agreed or partially agreed with seven recommendations, with corrective measures planned for December 2026. However, the agency rejected a recommendation to establish overall timeliness standards for notifying victims, arguing such standards already exist.

The findings come amid longstanding concerns about the IRS's handling of politically sensitive taxpayer information.

President Donald Trump previously filed a $10 billion lawsuit against the IRS and Treasury Department, alleging the government failed to protect his confidential tax records from unauthorized inspection and disclosure. He voluntarily dropped the lawsuit in May 2026.

Former IRS contractor Charles Littlejohn was sentenced to five years in federal prison in January 2024 after leaking confidential tax information belonging to Trump and other wealthy Americans.

Tyler Durden Mon, 10/05/2026 - 17:00
Tyler Durden

Surprise Republican Senator Admits He's Considering Running For President In 2028

Zero Rss
1 day 18 hours ago
Surprise Republican Senator Admits He's Considering Running For President In 2028

Sen. John Kennedy (R-LA) revealed over the weekend that he is considering a run for the White House in 2028, saying he could jump into the Republican presidential primary if he looks at the field and sees too many "goobers" with a chance of winning.

Kennedy, the sharp-tongued Louisiana Republican known for his colorful one-liners and viral Senate hearing exchanges, was asked directly Sunday on NBC's Meet the Press whether he was thinking about running for president.

"Yeah," Kennedy responded when asked by host Kristen Welker.

Sen John Kennedy Won't Rule Out 2028

"Why not me on a rainy day?"

"If a bunch of goobers run, and I think they're goobers, and one of the goobers might win, and I think I could do a better job, I would consider running."

Goober clause is in effect. https://t.co/sGgNTcZYi1 pic.twitter.com/nNKfAk4TAt

— Mr Producer (@RichSementa) October 4, 2026

"My plans right now are to run for reelection. But as I've said before, if I don't think I can be effective in the Senate anymore, I would consider it," the lawmaker added. "You know, what's the old Judds song, Why not me on a rainy day? Why not me to love your blues away? But I haven't made a decision."

The Louisiana senator made clear that the strength, or weakness, of the eventual Republican field could help determine whether he takes the plunge.

"If a bunch of, on my side of the aisle, if a bunch of goobers run, and I think they're goobers and one of the goobers might win, and I think I could do a better job, I would consider running," he explained. "But right now, I'm running for reelection."

Any Kennedy campaign would enter a Republican race where Vice President JD Vance currently holds a sizable advantage in early polling. The RealClearPolitics polling average currently has Vance at 39.7%, followed by Secretary of State Marco Rubio at 23.4%, Donald Trump Jr. at 11.1% and Florida Gov. Ron DeSantis (R) at 7.3%.

However, Sen. Ted Cruz (R-TX) increasingly appears to be laying the groundwork for another White House campaign. Cruz, who ran for president in 2016 and ultimately lost to President Donald Trump, has been actively campaigning around the country, including in key early primary states.

That maneuvering has already sparked some early fireworks with Vance.

"It is really obvious to me that, at this very moment, Ted Cruz is running for president," Vance told NBC News last week.

Cruz fired back days later, accusing the vice president of taking shots because he was feeling "insecure."

 

Tyler Durden Mon, 10/05/2026 - 16:40
Tyler Durden

Our Country...?

Zero Rss
1 day 18 hours ago
Our Country...?

Authored by James Howard Kunstler via kunstler.com,

Pornish Hen

"[NY Attorney General Letitia] James has always followed the policy of the Queen of Hearts in 'Alice in Wonderland': Sentence first, verdict afterward."

You can be certain that nobody involved in the Cornell U fraternity gang-bang circus is going to come out looking good, not the frat boys, not the girl, not the county DA, not New York AG Letitia James, and not NY Governor Kathy Hochul. The latter two have decided to showboat what has become a rape case in an election year when both are up for another four-year term.

A group of young men standing side by side stared up at the house, yelling and cursing at the defunct fraternity and the seven former members whom Jane Doe accused of assault. One of the men threatened to throw a rock through a window before his companions hustled him away. (Credit: The New York Times)

First, the incident itself: October 19, 2024, a Saturday night when upstate New York is at its fall color peak and the campus is jumpin', 20-year-old "Jane Doe" starts drinking at her sorority, Delta Delta Delta (Δ Δ Δ, "Tri-Delt") whose motto is Let Us Steadfastly Love One Another. Around eleven o'clock Jane goes into downtown Ithaca to do more drinking at a bar. She's legally underage, but manages to get served.

Meanwhile, messages are zinging around on social media, Snapchat, etc. There's a party going on at the Chi Phi fraternity (ΧΦ). Jane communicates with one of the members there. He cordially invites her over for "a threesome." Jane apparently has a reputation as a lively girl around campus. She accepts and heads over to Chi Phi with a load on, "five out of ten" on the intoxication scale, she later writes in a nine-page statement she gave to campus police.

She arrives at Chi Phi around midnight. More drinks. Pretty soon she's in that threesome in a bedroom. The frat boys are also pretty hammered. Things get even wilder. Four other frat boys enter the picture. On top of the alcohol, they start doing ketamine, known to produce a dissociative "floaty, out-of-the-body feeling." One's judgment is not too good on it, even worse when mixed with booze. The scene at Chi Phi is Animal House plus. Various shenanigans ensue. Eventually, Jane Doe gets home.

Jane makes a whole lot of statements to her friends and sorority sisters after the incident. Law analyst Jonathan Turley tells The New York Post, "Friends recounted that Doe later laughed about the incident and said, 'Oh my goodness, isn't that crazy?'" She also "later told her sorority 'Big sister' that 'You may hear some rumors about me, and unfortunately they are true.'"

Three days later she exchanged messages with one of the frat boys who expressed regret over "how things went down." Jane reportedly texted back, "I really liked being with you," and "non(e) of the sexual stuff was illegal." She added that she wanted to come over and smoke more "but, like, leave out the extra 5 billion men and ketamine."

Five days after that, she got wind that Chi Phi was throwing a Halloween party, and asked to be invited. The threesome boy replied, "Chi Phi is your house and you are welcome here." She texted back "thank u i really appreciate. . . i'll bring my cigs tomorrow." Did she mean cannabis? Shortly, the president of Chi Phi chapter texted her to cancel the invitation. Jane, pissed off, texted back, "I knew this was going to happen. The woman will always get the short end of the stick. Yall aren't my friends. Yall are covering your asses." A woman scorned. . . .

A week after that - it's November now - she reported the incident to campus police, but gave a muddled statement saying, she consented to the initial threesome, "Yeah, as much as I can because, again, I was super drunk when I got there. . . But I was pretty OK with all of this," adding, "I can say with one hundred percent confidence I was raped." You can suppose this was so, too, insofar as the ketamine she took probably launched her into a semi-hallucinatory state. Due to that muddle of intention and action in Jane Doe's statements, the Tompkins County (NY) District Attorney Matthew Van Houten declined to prosecute the frat boys.

Anyway, that was then, 2024. Since then, Chi Phi's chapter at Cornell was shut down. Fast forward two years. Jane Doe has now brought civil lawsuits against Cornell U and the seven Chi Phi frat boys, plus the Chi Phi national org, plus the Tri-Delt sorority, plus the bar in downtown Ithaca where Jane got hammered, plus unnamed faculty, alumni, and executive-board members. She alleges severe physical and psychological injury and says she later left Cornell.

A week ago, Tompkins County DA Van Houten reopened the criminal investigation. Then Governor Hochul stepped in and appointed AG Tish James "special prosecutor" for the state, taking the case away from DA Van Houten. Tish James, you might recall, initially ran for AG in 2022 by promising to go medieval on Donald Trump.

There's a bit of a problem with the case: under New York State law, voluntary drinking and drug use that impairs judgment does not legally constitute and inability to consent to sexual activity. But leave it to Tish to figure out some way to skin this cat. She made good on her promise to haul Donald Trump into court in 2023 on a civil fraud rap (Judge Arthur Engoron presiding in the New York County (Manhattan) Supreme Court. It resulted in a roughly half-billion-dollar judgment. In August, 2025, a five-judge panel of the Appellate Division tossed the half-billion-dollar judgment.

The New York Times has commenced its own inquisition against Cornell U. The coverage is essentially free campaign advertising for the unpopular Governor Hochul and for AG "Big Tish" James, who proudly presides over a New York State legal system that releases indicted violent repeat-offender felons with no bail so they are free to push people in front of on-rushing subway trains. Cornell President Michael I. Kotlikoff has made the requisite, weepy, handwringing statement, promising to do better. Everyone must now play his and her assigned roles in this psychodrama.

You wonder if it will turn out anything like the Duke U Lacrosse team rape case twenty years ago, where the DA who brought the case was disgraced and disbarred, the students implicated were all let off, and the girl who made the rape complaint admitted she lied and was later convicted on a murder rap. But not until after racking up millions in legal fees for the attorneys of all concerned. Our country...

Tyler Durden Mon, 10/05/2026 - 16:20
Tyler Durden

SpaceX "Looks Unusually Cheap" On The Forward: Morgan Stanley

Zero Rss
1 day 19 hours ago
SpaceX "Looks Unusually Cheap" On The Forward: Morgan Stanley

SpaceX shares rose more than 5% in mid-morning trading in New York, breaking above the trading range that had contained the stock since mid-August. Shares climbed past the $160 level to $167.

Morgan Stanley analyst Adam Jonas wrote that SpaceX shares at these levels offer an inexpensive way to gain exposure to the space and artificial intelligence economy when adjusted for projected earnings growth.

"We expect developments over the next few months will help investors better appreciate the role of SPCX in addressing the critical bottlenecks of power and chip making, potentially unlocking earnings growth and multiple expansion for the stock," Jonas wrote in a note to clients.

Jonas pointed out that, at $159 per share when the note was written, Elon Musk's company looks expensive. But when adjusted for year-over-year growth, "SpaceX trades at just ~0.3x 2028e EV/EBIT/Growth, ~40% below the ~0.5x mega cap median."

He said that ahead of the next Starship launch, traders can take advantage of the "unique opportunity" to gain exposure to shares that, while "expensive on any trailing metric, look unusually cheap on the forward."

Jonas believes that the combination of AI chatbot releases, Starship test launches toward commercialization and high-priced neocloud deals could push the stock closer to $300.

Shares are up more than 5% on Monday morning but remain well below the $225 high reached following a blockbuster IPO in mid-June. At $167, shares are well above the $135 IPO price.

"View Starship test flight 14 as a success, marking the transition from design/test to production-grade & scale. See accelerating pace of Starship deployment, with 2-3 addt'l launches by YE26, reusability of booster in NTM & Ship catch by early '28," Wells Fargo analyst Ken Gawrelski wrote in a note.

Starship deploying Starlink V3 satellites https://t.co/TG7b8iHYkY

— Elon Musk (@elonmusk) October 3, 2026

According to Bloomberg data, 36 analysts have a "Bull" rating on the stock, while seven have "Neutral" ratings and four have "Sell" ratings. The average 12-month price target among the analysts is around $217.

When can locked-up shareholders sell?

Here's the schedule:

Looking ahead, SpaceX is targeting the Starship Flight 15 test for no earlier than October 19, or about two weeks from now.

Tyler Durden Mon, 10/05/2026 - 15:40
Tyler Durden

Watch: UK Police Clear Streets Of Entire Town So Migrant Boat Can Offload

Zero Rss
1 day 19 hours ago
Watch: UK Police Clear Streets Of Entire Town So Migrant Boat Can Offload

Residents of Gosport, the Royal Navy harbor town across the water from Portsmouth, spent Sunday under police orders that let officers direct people to leave town, as a migrant boat from France made its way toward their coastline.

The migrants were brought into Gosport onboard an RNLI boat (AOL)

Hampshire and Isle of Wight Constabulary imposed a Section 34 dispersal order covering the entire town under the Anti-Social Behaviour, Crime and Policing Act 2014, running until 7am Tuesday. It lets officers order people to leave an area and not return, and refusing is a criminal offense. Police stacked several more restrictions on top:

  • Protesters were confined to a single designated area inside the Walpole car park under Section 14 of the Public Order Act.
  • Face coverings at protests were banned across both Gosport and Portsmouth.
  • Haslar Bridge was closed.

The boat left Normandy, near Utah Beach, on Sunday morning. Late Sunday evening, two RNLI lifeboats brought 149 people ashore in Gosport, who were then put on coaches to Kent for processing, health, security and biometric checks. It was the third crossing headed for the western Channel coast in a month, a route that had been rare in recent years.

EXCLUSIVE VIDEO of boats arriving. I can not believe the British Government have allowed a boat of illegal migrants to dock in the Home of the Royal Navy here in Portsmouth Harbour, Gosport.

This makes me feel physically sick. They wonder why local people are angry. This is why

Not far right thugs. Normal local families and people horrified at what they are witnessing. When will this end?

— Cllr George Madgwick (@georgedmadgwick) October 4, 2026

Two weeks ago, a boat carrying around 50 migrants was rerouted to Dover after locals protested.

On Sunday, around 350 demonstrators turned out anyway, according to the Portsmouth News, with reports of flares and scuffles with police. By Monday, 12 people had been arrested, for offenses including assaulting a police officer. Six people were arrested at a similar protest last month.

Footage posted overnight shows the lifeboats coming in after dark, and the police escort that then moved the coaches out of town.

Holy. Shit.

Drone footage from the UK tonight…

The UK government is using the cover of darkness to continue importing foreign men. They will all live off British taxpayers. Before long, they will all have multiple children.

It’s being done on purpose.

— Geiger Capital (@Geiger_Capital) October 5, 2026

HONESTLY look at this video. The resources gone in to bringing in, protecting and securing illegal migrants is astonishing. They have a bigger security motorcade than Trump would have on a visit.

This is shocking. In Gosport, Portsmouth Harbour.

— Cllr George Madgwick (@georgedmadgwick) October 5, 2026

The lengths the police and government are going to to facilitate this “INVASION” amazes me! 😳

Gosport 🏴󠁧󠁢󠁥󠁮󠁧󠁿

Police block off the road to allow the migrant coaches to get away last night so no one can follow them and document etc ..what is going on! @GBNEWS @TRobinsonNewEra

— Andy Public UK (@AndyPublicGB) October 5, 2026

Tensions on this stretch of coast have been building for weeks. On Sept. 22, Hayling Island native Daniel Thomas, an anti-migrant activist known online as "Danny Tommo" whom Breitbart describes as a Tommy Robinson ally, allegedly slashed a migrant boat in the Channel with an emergency responder on board. The 37-year-old has pleaded not guilty to criminal damage and to refusing to give police his phone PIN, and a judge at Portsmouth Crown Court denied him bail on Sept. 29. His trial is provisionally set for March 2027.

The local Conservative MP, Caroline Dinenage, wants the boats sent elsewhere. "Gosport is not a safe or suitable location to disembark small boats," she said, arguing that any small boat intercepted in the Channel should be taken directly to Dover by water, as the Home Office did two weeks ago.

George Madgwick, who leads Reform UK on Hampshire County Council, put it more bluntly: "It's heart-breaking because Portsmouth Harbour is the home of the Royal Navy... Britain is Broken."

Then there is the bill. Hampshire's Police and Crime Commissioner, Donna Jones, says every one of these landings now comes with a price tag for local taxpayers:

"On each one of the protests that are happening every time we have one of these threats of a small boat landing, it is costing me £150,000 of taxpayers' money from my police budget, which I can ill afford to spend."

In a video message, Jones called on the Home Secretary to make sure Border Force has vessels big enough to transfer people off the dinghies at sea and take them to Dover for processing.

On Monday, a government spokesperson said: "We have established contingency plans to make sure we can securely disembark, check and process all small boat arrivals."

Tyler Durden Mon, 10/05/2026 - 15:20
Tyler Durden

Over 250,000 Visas Revoked During Trump's Second Term

Zero Rss
1 day 20 hours ago
Over 250,000 Visas Revoked During Trump's Second Term

Authored by Aldgra Fredly via The Epoch Times,

The State Department said on Oct. 1 that it has revoked more than 250,000 visas since President Donald Trump returned to office in January 2025.

State Department spokesman Tommy Pigott announced in a post on X that the administration has been working to identify and revoke visas held by noncitizens who were found to "commit crimes, support terrorism, or defraud Americans."

On Sept. 28, Pigott said the department imposed visa restrictions on 27 officials from Bolivia, Colombia, Ecuador, and Peru over allegations of corruption and ties to drug-trafficking activities.

The officials included Bolivia's Attorney General Roger Mariaca, whom the department accused of soliciting and accepting bribes to enable drug-trafficking and helping violent criminals evade punishment.

The restrictions also applied to those people's family members.

Pigott said the visa limits were imposed under Section 212(a)(3)(C) of the Immigration and Nationality Act, which allows the government to bar a person's entry into the country if the Secretary of State determines the person's presence would have potentially serious negative consequences.

"This is a durable mechanism that allows the United States to act quickly, in coordination with our partners, as evidence develops," the spokesperson said in a statement.

The Trump administration has intensified enforcement against illegal immigration and tightened the country's vetting procedures for foreign nationals seeking to enter the United States.

Secretary of State Marco Rubio said on Sept. 28 that the United States will restrict visas for people who obstruct the return of children abducted abroad by a parent, as well as those people's immediate family members.

Rubio said the new policy was intended to streamline cases that have dragged on in foreign courts and government offices and "gives the department a new accountability tool to press non-compliant countries to meet their obligations."

In June, Assistant Attorney General Colin McDonald of the Justice Department's National Fraud Enforcement Division issued a memo directing federal prosecutors to prioritize investigations into birth tourism schemes.

The move came after the Supreme Court struck down Trump's executive order ending birthright citizenship for children born to illegal immigrants.

Trump's order on birthright citizenship, issued on Jan. 20, 2025, said the 14th Amendment's citizenship clause does not extend citizenship universally to everyone born within the United States.

The Supreme Court ruled on June 30 that the order ran counter to the U.S. Constitution.

Tyler Durden Mon, 10/05/2026 - 14:40
Tyler Durden

Pentagon Backs Ambitious Plan To Beam Solar Power From Space

Zero Rss
1 day 20 hours ago
Pentagon Backs Ambitious Plan To Beam Solar Power From Space

By Haley Zaremba of OilPrice.com

Space-based solar power just got another powerful vote of confidence. The United States Department of Defense just inked a contract with solar energy company Overview Energy to “design, build, and test a homing beacon that will enable its space-based solar energy system to accurately beam power from orbit to receiving solar arrays on Earth,” according to a brand new report from Interesting Engineering.

The idea is that solar panels would orbit the Earth, collecting sunlight straight from the source and then beaming it back down to Earth either through powerful lasers or microwave beams, depending on the technology being applied.

Putting solar panels into outer space would yield a litany of benefits. Critically, unlike terrestrial models, the sun would never set on these solar panels, allowing them to generate clean energy 24 hours a day, seven days a week. This would solve an enormous issue in the clean energy sector, which is seeing increasing instances of wasted energy and even negative energy prices as peak production hours and peak demand hours are inevitably misaligned, and energy storage capacities have lagged far behind productive capacity.

And intermittency is not the only major challenge to the traditional solar power sector that space-based solar would be able to sidestep completely. Industrial-scale solar farms take up enormous tracts of land, and are therefore facing increasing legal challenges to secure appropriate plots for development. A single large-scale solar farm can take up thousands of acres. According to a 2022 insight report from strategy & management consulting firm McKinsey & Company, utility-scale solar farms require ten times as much space per unit of power as coal- or natural gas–fired power plants, at minimum. And that’s counting the land used to produce and transport the fossil fuels. Jettisoning those solar panels into space is one way of solving that problem.

Plus, the power from space-based solar panels would be dispatchable. Since solar satellites can view entire quadrants of the globe, they can beam energy when and where it is needed most with an enormous degree of accuracy. All of these factors serve to make the technology highly attractive to the Department of Defense, which wants to use space-based solar power for remote military bases. The first demonstration of the technology is planned for 2028, with deployment of the planned geosynchronous Earth orbit (GEO) satellite constellation slated to begin in 2030.

“The connection between space and the ground is the most critical element of space solar energy, especially for warfighters who depend on power at precise locations,” Darko Filipi, Overview Energy co-CEO, was quoted by Interesting Engineering.

The United States military is not the only major investor to sign a massive contract with Overview Energy. The four-year-old startup inked a deal with Meta – the megacompany behind Facebook, Instagram, and more – earlier this year, agreeing to provide up to 1 gigawatt of space-based solar energy to the tech giant – equivalent to the output of a nuclear reactor.

However, both of these contracts are based on a nascent technology and the complete space-to-ground system has yet to be demonstrated from orbit. But the leaders of Overview are confident that their big gamble will pay off in spades. “We really believe that we are able to provide utility-scale power with this technology,” Filipi recently told the Washington Post.

However, not everyone is so optimistic. “The technology may work,” Amory Lovins, a Stanford physicist and co-founder of the energy think tank RMI, told the Washington Post. “But I have serious doubts the economics do.” He pointed to the many other forms of clean, abundant, proven, and round-the-clock power alternatives, such as nuclear and geothermal, that can produce electricity much more cheaply and with more proven and established technologies.

Tyler Durden Mon, 10/05/2026 - 14:00
Tyler Durden

Fuel Price Shock Pushes Gas Cars Under 50% Of Global New-Auto Sales For First Time

Zero Rss
1 day 21 hours ago
Fuel Price Shock Pushes Gas Cars Under 50% Of Global New-Auto Sales For First Time

By Tsvetana Paraskova of OilPrice.com

The share of gasoline cars in global vehicle sales fell below 50% for the first time ever as the Hormuz shock and the resulting record-high fuel prices accelerated the previously sluggish shift toward EVs outside China.

A few years ago, China blew past the threshold of 50% of all car sales being hybrids and EVs, and the share is now about 55%. But the rest of the world didn’t follow until the Iran war disrupted the fuel markets.

Global sales shares of EVs are far from the Chinese numbers, but the shift toward electric vehicles has been remarkably fast amid spiking gasoline and diesel prices, which pushed many consumers to choose EVs.

The surge in gasoline prices this year led to the first dip in the share of gasoline-fueled cars below 50%, ever, according to data by automotive data and analytics provider Mobility Global cited by Nikkei Asia.

Between January and June, sales of gas-powered vehicles, excluding hybrids, slumped by 10% from a year earlier, to 20.25 million cars, and their share of total global automotive sales fell by 3 percentage points to 49%, the data showed.

For years, the EV uptake in markets outside China was sluggish and lagging forecasts, but the Hormuz crisis, the $100 oil prices, and record diesel and gasoline prices pushed many consumers in Europe, South America, and Asia Pacific toward EVs.

Battery electric vehicle sales in Europe, including the UK, Switzerland, and Norway, surged by 52.2% in August from a year earlier as record-high gasoline and diesel prices prompted drivers to flock to battery and hybrid vehicles, data by the European Automobile Manufacturers’ Association, ACEA, showed last month.

BEV sales in Germany, the biggest car market in Europe, soared by 75% in August year-over-year, as gasoline prices in Germany hit an all-time high of 2.31 euros per liter, or the equivalent of about $10 per gallon.

EV sales in France, another major European market, more than doubled.

In Germany, where the government introduced a purchase premium for EVs from January 2026, sales are accelerating, an analysis by the German Institute for Economic Research, DIW, showed earlier this week.

One in every four passenger cars sold in Germany between January and August was a pure battery electric vehicle, while the share in August was even higher – one in every three passenger cars sold was a BEV, according to the analysis. This compares to an average of 19% in 2025.

Globally, electric vehicle sales have surged this year following the oil supply disruption in the Middle East and the second oil price shock in four years.

Following a subdued start to the year, EV sales jumped in the second quarter after the Middle East crisis slashed crude supply and hiked oil and fuel prices, the International Energy Agency (IEA) said in July in an update to its annual EV outlook.

EV sales rebounded sharply in the second quarter, rising by 35% compared with the first quarter “as the energy crisis sparked by the war in the Middle East brought fuel price volatility back into sharp focus,” the agency said.

EV sales in the second quarter reached record-high levels in 50 countries as drivers preferred electric vehicles amid soaring fuel prices.

In sizable car markets such as Brazil, India, Australia, and Vietnam, electric car sales roughly doubled between March and June compared with the same period in 2025, according to the IEA’s analysis in the report.

Moreover, as many as 90 countries saw annual growth in EV sales in the first half of the year.

The accelerating EV adoption that began with the spike in oil and fuel prices is set to remain a trend in the global markets and could push the share of EVs in the passenger fleet above earlier expectations, analysts at Wood Mackenzie say.

Challenges to accelerated adoption still remain, including the need for billions of U.S. dollars in investments in critical battery minerals supply and charging networks. Yet, the longer the Strait of Hormuz crisis roils global fuel markets, the stronger the case for EV adoption could become.

Tyler Durden Mon, 10/05/2026 - 13:20
Tyler Durden

Massive Fires Along Saudi Oil Export Pipeline, Regional Outlet Says

Zero Rss
1 day 21 hours ago
Massive Fires Along Saudi Oil Export Pipeline, Regional Outlet Says

Update(1015ET): The news outlet of pro-Iranian factions in Iraq, Sabereen News, has cited new satellite imagery to report "massive fires in the Saudi oil export pipeline."

The outlet posted the following image on its official Telegram channel. Newsquawk, which picked up the Sabereen report, has noted that it remains unclear whether this is a new incident or is damage stemming from the earlier reported Sunday attack on Saudi Arabia's East-West pipeline (detailed below):

The same platform reviews:

  • Saudi Arabia's East-West oil pipeline pumping reportedly halted after a new attack, AFP reports citing sources; "There was big damage and the pipeline stopped again"
  • Saudi Arabia's East-West pipeline is flowing as normal, Bloomberg reports citing sources
  • Modest upside seen in the energy benchmarks following this.

And more: Yemeni Houthis hit Saudi Arabia's Ras Tanura refinery (550k BPD) with missiles, Sabereen reports

Some other open source regional watchers have similarly observed:

Pumping Station No. 2 east of Riyadh appears to have been hit again. Oct 4 satellite imagery shows smoke stretching 50km from the site. Saudi Arabia's East-West pipeline was still recovering from September. @SoarAtlas https://t.co/s35nauXeBV

— Open Source Intel (@Osint613) October 5, 2026

Regional escalation moving fast:

BREAKING: Multiple reports indicate that Ansar Allah (Houthis) have launched missiles towards the Bab al-Mandeb. The Saudi/Yemen War is escalating VERY fast this morning following the commencement of the Saudi-backed Yemeni counteroffensive.

— Brett Erickson (@BrettErickson28) October 5, 2026

Some further (unconfirmed) footage emerging...

Footage shows a plume of smoke rising from Jeddah, following an Ansarallah ballistic missile attack on a Saudi ARAMCO refinery. Notably, for some time now, Saudi Arabia has stopped sending early warning alerts for missile and drone attacks from Yemen. https://t.co/2m87cCpYsc

— MoloMonitor 🇮🇹 (@MoloWarMonitor) October 5, 2026

*  *  *

"The East-West pipeline was attacked again yesterday," a source working in the kingdom’s energy sector told Agence France-Presse (AFP) on Monday. "A pumping station east of Riyadh in Khurais. It wasn’t targeted before. There was big damage and the pipeline stopped again."

However, follow-up reports were quick to note that the some 745-mile pipeline between Saudi Arabia's main oil fields in the east and the Yanbu terminal on the Red Sea are already back to  operating normally and that flows are continuing.

AFP Image

Bloomberg reports Monday, "Oil continues to flow through the East-West link, the people said, asking not to be identified discussing private information" - while confirming that the conduit was briefly halted over the weekend due to attack.

The East-West pipeline has been targeted several times after renewed Houthi-Saudi fighting over prior weeks, and such attacks could continue given that fighting has only intensified in neighboring Yemen.

The Saudi-backed government there over the weekend announced a "new phase in the battle to restore the state." Information Minister Moammar al-Eryani wrote on X that the Saudi-backed military operation aims to "extend authority … over every inch of Yemen’s land."

"The recovery of land, islands, and strategic positions in the Bab al-Mandeb Strait … directly contributes to safeguarding one of the world's most vital maritime passages and securing international trade and navigation, after the Houthi militia turned it into a tool for extortion and threats," he said of the anti-Houthi fight.

Flows through the east west pipeline have not been interrupted, despite some reports suggesting otherwise #OOTT #Aramco

— Amena Bakr (@Amena__Bakr) October 5, 2026

But amid optimistic pro-Riyadh headlines of counter-Houthi progress, the Ansar Allah movement is saying these reports are exagerrated.

Houthi official Hizam al-Assad has been cited in Nour News on Monday as saying that the Saudi coalition' mercenaries are fleeing and that headlines of "victory" do not capture the reality on the ground but something only being floated for inaccurate media reports. Per the regional report:

  • Hizam al-Assad, a member of the political bureau of Yemen's Ansarullah, pointed out that Saudi Arabia's mercenaries continue to spread lies and stated: Their alleged "victories" do not go beyond the media and social networks.
  • This member of the Ansarullah office emphasized: In the real field, Saudi Arabia's mercenaries are constantly fleeing; from "Ras al-Aara" on the coast of the Gulf of Aden to the "Al-Muwasit" area and the location of the traitor Al-Ulaymi in "Ta'iz".

Meanwhile the chief executive of the world’s biggest oil company, Saudi Aramco, offered some negative news on global crude supplies Monday.

He doesn't see the current situation as “normalizing” anytime soon, and so squeeze on crude oil and refined fuels is set to tighten.

🔴BREAKING: The squeeze on supplies of crude oil and refined ⁠fuels is set to worsen, and refilling global stockpiles tapped as an emergency measure might take two years, Saudi ⁠Aramco Chief Executive Amin Nasser tells the ⁠Energy Intelligence conference in London. https://t.co/Z0BcmFFHtU

— Al Arabiya English (@AlArabiya_Eng) October 5, 2026

"Until Hormuz fully re-opens and confidence returns, the crude reality is that pressure at both ends of the barrel will intensify. ‌Even ​then, replenishing inventories while meeting demand could take up to two years," ⁠Amin Nasser told the Energy Intelligence Forum ⁠in London.

"The system is already straining," he said in what importantly marked his first in-person speech since the launch of the Iran war. According to more from the Aramco chief: "Brent crude prices would have reached up to $200 per barrel if Saudi Arabia's East-West pipeline did not exist," he said.

Tyler Durden Mon, 10/05/2026 - 13:15
Tyler Durden

Key Events This Week: FOMC Minutes, Umich, And FOMC Speakers Galore

Zero Rss
1 day 21 hours ago
Key Events This Week: FOMC Minutes, Umich, And FOMC Speakers Galore

Given the high stress and high alert in bond markets, which has pushed global 10Y yields to the highest level since 2022 and with Europe finding itself on the verge of another sovereign debt crisis...

... the main focus in the week ahead will be on central banks, with the minutes from the September FOMC meeting on Wednesday and the ECB’s account of its latest meeting on Thursday.

There is also a busy run of central-bank speakers, while the data calendar includes US ISM services today and the University of Michigan survey on Friday, a run of German activity data through the week, and Japanese wages on Wednesday.  

In the US, the week begins in the shadow of Friday’s important September employment report. Headline payrolls rose just +29k, compared with +133k expected, while private payrolls increased +46k versus +127k expected. There were also 60k of downward revisions to headline payrolls over the previous two months, and average hourly earnings rose only +0.1% against +0.3% expected. Nevertheless, DB's US economists think the details still point to a broadly stable labor market. The unemployment rate edged up only slightly to 4.175% from 4.141%, the broader U-6 rate fell a tenth to 7.6%, and participation rose two-tenths to 61.8%, its highest since May last year. Prime-age participation and the employment-to-population ratio also recovered further after their unusually large June declines. So although the headline payroll number was disappointing, the wider labor-market picture remains relatively resilient, particularly alongside recent ADP and jobless-claims readings, and DB's economists continue to expect two further 25bp Fed hikes over the next couple of quarters. The market is pricing in another 86bps over the next 12 months, down from 100bps early last week but up from 70bps just after the payroll release. So lots of vol on Friday in rates and fixed income as we'll see in the review of the week at the end.  

The highly unsettled bond market makes the incoming US data and Fed communication particularly relevant. The first key release is the September ISM services index today, where DB economists expect the headline gauge to rise to 55.9 from 55.4 in August (it rose 55.8). Tomorrow brings the August trade balance, while Wednesday’s September FOMC minutes should provide more color on the near-term policy outlook.

Since the meeting, Fed communication has broadly reinforced the quarterly pace of rate hikes implied by the September SEP. Vice Chair Jefferson and New York Fed President Williams have both indicated a preference to take some time to assess incoming data before deciding on the next move, but several officials have continued to argue for additional tightening. So the minutes will be worth watching for how the broader Committee is framing the current tightening cycle and for its discussion of the neutral rate, where estimates shifted higher in the September SEP.

The rest of the US calendar is lighter. Thursday brings initial jobless claims and August wholesale trade sales, before attention turns to the preliminary October University of Michigan survey on Friday. Economists expect consumer sentiment to dip to 47.7, versus 48.1 in September. The survey may attract some extra attention with the November 3 midterm elections approaching. More broadly, DB's US economists currently estimate Q3 real GDP growth at 3.3% annualized, and this week’s activity data will help refine that estimate.

Moving to Europe, the ECB publishes the minutes of its September meeting on Thursday, alongside a packed speaker calendar. It'll be interesting to see whether the French situation gets prominent mentions. Germany has a particularly busy run of activity data, with August factory orders tomorrow, industrial production on Wednesday and the trade balance on Thursday. France releases August industrial production tomorrow, while Italy follows on Friday. Sweden publishes September CPI on Wednesday and Norway on Friday.

In the UK, the BoE releases its Bank Liabilities and Credit Conditions surveys on Thursday, when Governor Bailey is also due to speak.
In Asia, Japan is the main focus. August labour cash earnings are released on Wednesday, with markets expecting same-sample total cash earnings growth to accelerate to 3.6% year-on-year from 2.9% in July. The September Economy Watchers survey follows on Thursday and August household spending on Friday. China’s September foreign-exchange reserves are also due on Wednesday.

Courtesy of DB, here is a day-by-day calendar of events

Monday October 5

  • Data: US September ISM services, UK September new car registrations, official reserves changes, Japan September consumer confidence index, Italy September services PMI, Q2 deficit to GDP, Eurozone August PPI, Canada September services PMI
  • Central banks: ECB's Nagel, Lane, Schnabel, Escriva, Kocher and Buch speak

Tuesday October 6

  • Data: US August trade balance, UK September construction PMI, Germany August factory orders, September construction PMI, France August industrial production, budget balance, Eurozone August retail sales, Canada August international merchandise trade
  • Central banks: Fed's Williams speaks, ECB's Zigman and Cipollone speak, BoJ's Ueda speaks, BoE’s Mann speaks
  • Auctions: US 3-yr Notes ($58bn)

Wednesday October 7

  • Data: US September NY Fed 1-yr inflation expectations, August consumer credit, China September foreign reserves, Japan August laborcash earnings, leading index, coincident index, Germany August industrial production, France August current account balance, trade balance, Sweden September CPI
  • Central banks: FOMC minutes, Fed's Logan speaks, ECB's Cipollone and Vujcic speak
  • Earnings: Applied Digital
  • Auctions: US 10-yr Notes (reopening, $39bn)

Thursday October 8

  • Data: US August wholesale trade sales, initial jobless claims, UK September RICS house price balance, Japan September Economy Watchers survey, August BoP current account balance, BoP trade balance, Germany August trade balance
  • Central banks: ECB’s account of September meeting, Fed's Musalem speaks, ECB's Zigman and Lane speak, BoE's Bailey, Greene and Lombardelli speak, BoE’s bank liabilities and credit conditions surveys
  • Earnings: PepsiCo, Fast Retailing, Tesco
  • Auctions: US 30-yr Bond (reopening, $22bn)

Friday October 9

  • Data: US October University of Michigan survey, Japan August household spending, September machine tool orders, Italy August industrial production, Canada September labour force survey, Sweden August GDP indicator, Norway September CPI
  • Central banks: ECB's Wunsch, Cipollone and Schnabel speak
  • Earnings: Delta Air Lines

Looking at just the US, Goldman writes that the key economic data release this week is the trade balance report on Tuesday. The minutes to the September FOMC meeting will be released on Wednesday. There are several speaking engagements with Fed officials scheduled this week. 

Monday, October 5 

  • 09:45 AM S&P Global US services PMI, September final (consensus 58.7, last 58.7)
  • 10:00 AM ISM services index, September (GS 55.4, consensus 55.0, last 55.4): We estimate that the ISM services index was unchanged at 55.4 in September, reflecting sequential improvement in our non-manufacturing survey tracker (+1.0pt to 54.1), offset by downward pressure from convergence toward the level implied by other services surveys (which the ISM index is above).

Tuesday, October 6 

  • 08:30 AM Trade balance, August (GS -$100.0bn, consensus -$102.0bn, last -$88.6bn)
  • 09:05 AM New York Fed President Williams (FOMC voter) speaks: New York Fed President John Williams will moderate a discussion with Caryn Seidman Becker, Chair and CEO of CLEAR. On September 29, Williams said, "with the policy action we took at our September meeting, there is no need for urgency, and we have time to gather more information."
  • 10:45 AM Fed Vice Chair for Supervision Bowman speaks: Fed Vice Chair for Supervision Michelle Bowman will speak on modernizing regulation and supervision at the Community Banking Research Conference at the Federal Reserve Bank of St. Louis. Speech text and Q&A are expected. On October 1, Bowman said, "After the Committee's action in September, what we need to have is a better understanding about the underlying trends in the economy and how financial conditions are evolving going forward. So, I don't currently see an urgent need for further action."
  • 01:15 PM Kansas City Fed President Schmid (FOMC non-voter) speaks: Kansas City Fed President Jeffrey Schmid will participate in a fireside chat on monetary policy and rural development at the Enid Regional Development Alliance luncheon. On October 1, Schmid said, "We have a very simple and crisp mandate, and that's stable prices and full employment, and we just haven't fulfilled our promise on the inflation side."
  • 07:00 PM Dallas Fed President Logan (FOMC voter) speaks: Dallas Fed President Lorie Logan will moderate a Q&A with former Bank of Mexico Governor Agustin Carstens. On October 1, Logan characterized the hike at the September meeting as "an important first step" in tightening policy but added, "Still, I currently estimate the target range needs to rise an additional 50 basis points or more to appropriately balance the outlook and risks for our dual mandate goals."

Wednesday, October 7 

  • 02:00 PM FOMC meeting minutes, September 15-16 meeting: The September FOMC meeting was more hawkish than we expected. The dots showed a 16-2 majority projected at least one more hike this year, the median funds rate projection remained quite elevated through 2029, and the median neutral rate dot rose from 3.06% to 3.25%. The median SEP forecast showed substantially higher core PCE inflation in 2026 at 3.4% Q4/Q4 (vs. our current forecast of 3.0%) than now looks likely after last week's methodological revisions. We will look for details in the minutes on the assumptions underlying participants’ economic forecasts and views of the balance of risks at the time. 

Thursday, October 8 

  • 04:30 AM Fed Governor Waller speaks; Fed Governor Christopher Waller will speak at the Central Bank of the Republic of Turkiye's İstanbul Economic Forum on the economic outlook. Speech text and Q&A are expected. 
  • 08:30 AM Initial jobless claims, week ended October 3 (GS 200k, consensus 200k, last 197k); Continuing jobless claims, week ended September 26 (consensus 1,695k, last 1,701k)
  • 10:00 AM Wholesale inventories, August final (consensus +0.7%, last +0.7%) 
  • 01:40 PM St. Louis Fed President Musalem (FOMC non-voter) speaks; St. Louis Fed President Alberto Musalem will speak on the US economy and monetary policy at a Bloomberg event. Q&A is expected. On September 21, Musalem said, "I think it's crucial that policy puts a meaningful restraint on inflation," but added that "earlier and incremental policy firming is better and less disruptive than later and larger and potentially more abrupt policy action."

Friday, October 9 

  • 10:00 AM University of Michigan consumer sentiment, October preliminary (GS 47.0, consensus 47.7, last 48.1); University of Michigan 5-10-year inflation expectations, October preliminary (GS 3.4%, last 3.4%)
  • 04:00 PM Boston Fed President Collins (FOMC non-voter) speaks; Boston Fed President Susan Collins will give brief remarks at a conference at the University of Michigan's Ford School of Public Policy. Speech text is expected. On September 22, President Collins said that she supported the decision to raise the fed funds rate at the September FOMC meeting, adding that “a somewhat more restrictive fed funds rate will help ensure that inflation durably returns to target.”

Source: DB, Goldman

Tyler Durden Mon, 10/05/2026 - 12:49
Tyler Durden

Education Department Calls For Transparency And Tolerance... Teacher Unions Cry Foul

Zero Rss
1 day 22 hours ago
Education Department Calls For Transparency And Tolerance... Teacher Unions Cry Foul

Authored by Jonathan Turley via JonathanTurley.org,

The decline of higher education into an ideological echo chamber has been widely discussed on this and other sites. Polls show record lows in the public trust in our universities and colleges as revenues decline and closures increase. Secretary of Education Linda McMahon responded to this meltdown with a common-sense call for greater transparency and tolerance.

The response from teacher unions has been nothing short of hysteria, led by Randi Weingarten at the American Federation of Teachers (AFT) and Todd Wolfson at the American Association of University Professors (AAUP) - two of the most polarizing and political figures in teaching.

Secretary McMahon released a policy statement titled "National Call to Action to University Presidents and Governing Boards." I encourage you to read it. Few Americans would disagree with the call for universities to post policies on how they can achieve greater intellectual diversity and openness in both admissions and hiring.

Not surprisingly, the AFT and AAUP went into a full cardiac arrest at the notion that universities would adopt such policies, let alone work to restore integrity and balance to higher education.

In a public letter, they denounced the policy as "galling." The letter was a telling moment from the two organizations most responsible for the politicization of education.

The AFT and AAUP merged not long ago, destroying the AAUP's traditional role as a neutral advocate for academic freedom. Under Wolfson, the organization has become blatantly political, even abandoning its long apolitical stance and issuing its first political endorsement this year. It was for radical Abdul El-Sayed in Michigan.

I recently debated Todd Wolfson, President of the American Association of University Professors (AAUP), over the loss of institutional neutrality in higher education. In the debate, I raised AAUP's own abandonment of neutrality principles, which Wolfson acknowledged. While the viewers overwhelmingly supported a return to neutrality principles, Wolfson was undeterred.

The alliance with AFT and Weingarten is crushingly predictable. Weingarten personifies what I have called the "education cartel," where teacher unions receive massive contracts and pension agreements from Democratic allies and then turn around and send massive political contributions to those same allies. The losers in this symbiotic relationship are of course the students and their families.

Weingarten is "credited" with turning the teachers' union into an extension of the Democratic Party, often appearing at political rallies with her signature high-volume screeds:

As public support and revenue for both public education and higher education plummet, these figures are doubling down. The last thing that they want to see is the restoration of neutrality or balance. That is why a policy calling for such reforms is so anathema to them. These organizations are now political organizations that use their dues to pursue radical agendas.

I previously criticized the selection of Wolfson, who promised to make the AAUP more of a "fighting organization" for liberal causes. A Rutgers University anthropologist and former union leader, Wolfson is a political activist who doubled down on the ideological intolerance that now defines higher education.

As promised, the AAUP quickly became a more radical and activist organization. It adopted an anti-Israel boycott policy and unleashed attacks on Trump supporters as "fascists." It has targeted civics centers as conservative breeding grounds. Trinity College Professor Isaac Kamola, the director of the AAUP's Center for the Defense of Academic Freedom (CDAF), explains that they want to unleash "naming and shaming and discrediting and undermining the legitimacy" of such programs.

So, as trust in higher education hits new lows, the AAUP is accelerating that decline by doubling down on ideological bias and political activism. In reality, the AAUP represents only a small fraction of university professors but is often viewed as speaking for the teaching academy as a whole.

I have previously written about the similar liberal agenda of the American Bar Association despite plunging membership among lawyers. The ABA now represents just 17 percent of the bar.

The AAUP currently has roughly 50,000 members. There are an estimated 1.5 million university and college professors in the United States. Both the ABA and AAUP have become captive to the most ideological elements of their membership. That agenda has overwhelmed the original apolitical mission of these groups.

The loss of the AAUP as a neutral arbiter for academic freedom is tremendous. As Wolfson acknowledged in our debate, it was once a voice for neutrality, avoiding ideological and political causes. It was central to the articulation of neutrality principles and core academic freedom values. We need such an organization now more than ever.

Jonathan Turley is a law professor and the New York Times best-selling author of "Rage and the Republic: The Unfinished Story of the American Revolution."

Tyler Durden Mon, 10/05/2026 - 12:40
Tyler Durden

Cambridge University Declares Free Speech Should Be 'Restricted'

Zero Rss
1 day 22 hours ago
Cambridge University Declares Free Speech Should Be 'Restricted'

Authored by Steve Watson via Modernity.news,

Gonville and Caius College, one of Cambridge's oldest foundations, is compelling its undergraduates to attend mandatory "inclusivity training" from the start of term.

The 90-minute sessions are being delivered by Stop Hate UK, a 'charity' activist organisation whose own materials tell students their free speech rights may be restricted, that "Islamophobia is a crime", and that a facial expression can count as harm.

The order lands in the same university that spent the better part of two years investigating a philosopher for lawful speech, and in the same education system that has spent 2026 drilling children in white privilege, "racism requires power", and compulsory hijabs.

Students in at least one college of Cambridge University will be forced to take mandatory 'inclusivity training' from the start of the new term next week, The Spectator has learned.

The 90-minute sessions are being delivered by Stop Hate UK. This group has published a video... pic.twitter.com/0zBC85IMFX

— The Spectator (@spectator) September 30, 2026

According to an email from the college's education and tutorial office, seen by The Spectator, "attendance by undergraduate students is mandatory. It is important for the community as a whole to ensure a collective and unified response." The course, due to run from the week commencing 5 October, will cover "demonstrating inclusive behaviours" and "recognition of a hate incident and its impact."

A Caius spokesman told The Spectator the college had, "in consultation with student representatives," committed to "hosting facilitated discussions around inclusivity to support the whole community at Caius."

That is a softer description than the email students actually received. Mandatory attendance and a demand for a "collective and unified response" is not a discussion. It is an instruction.

BREAKING: Gonville & Caius, Cambridge has sent all undergraduates a notice, making 90-minute inclusivity sessions by 'Stop Hate UK' mandatory. The charity's materials are woke, defective and misstate the law on protected characteristics and Islamophobia. https://t.co/3ihJt4HxOG https://t.co/brE8VGChs4 pic.twitter.com/FruP9TpvBm

— Joe Rich (@Joe_Rich) September 30, 2026

Stop Hate UK has published a video telling university students they must always display "positive attitudes" and "use respectful and kind language that will not cause harm or offence."

Its syllabus for educational settings tells students that free speech should be "restricted by other duties, responsibilities, and legislative and contractual obligations," and teaches them how "opinions, attitudes and prejudice are influenced and shaped by unconscious bias, media bias, fake news, etc."

Andrew Gilligan, writing in The Spectator, put the obvious question: "How will students be required to 'demonstrate' that their behaviour is 'inclusive?'" The charity's own glossary supplies an answer of sorts. It speaks of "microaggressions" and "micro-inequities," including "unintentional comments" and "unconscious messages" that "devalue and discourage people... conveyed through facial expressions, gestures, tone of voice, choice of words."

Hate incidents, it says, can include "abusive gestures" or "malicious complaints about parking."

The Free Speech Union called the scheme another mark of Cambridge's intellectual decline, and of the way activist groups have been emboldened by the government's non-statutory "anti-Muslim hostility" definition.

Cambridge students are being forced to undergo "inclusivity training".

At least one Cambridge college is requiring students to attend training delivered by Stop Hate UK. The group has posted a video on social media saying students should always display "positive attitudes" and... pic.twitter.com/Mq6ZVgwrMm

— The Free Speech Union (@SpeechUnion) October 1, 2026

The use of "hate incident" rather than "hate crime" is the tell. Behaviour well below the legal threshold is being placed inside a disciplinary frame. That sits awkwardly beside the Home Office's own retreat. In March, Home Secretary Shabana Mahmood announced that non-crime hate incidents would be scrapped, saying: "Under these reforms, forces will no longer be policing perfectly legal tweets."

Caius is importing the logic the Home Secretary has just disowned, and making attendance compulsory.

If the syllabus is followed, one of the first things Cambridge students will be taught is "unconscious bias," a concept a UK government report has already found wanting. That review concluded that "evidence that [unconscious bias] training content and techniques 'works' is lacking," that such sessions "do not seem to be effective at improving diversity outcomes within workplaces," and that there was "potential for back-firing effects."

Most of the studies used to justify the training "did not use valid measures of behaviour change."

The Committee for Academic Freedom has gone further, and found legal errors in the provider's published materials. Age, a protected characteristic under section 4 of the Equality Act 2010, disappears from Stop Hate UK's list. The statutory category of "gender reassignment" is replaced with "gender identity," which, as CAF noted, "is not one of the nine protected characteristics named in the Act."

The Supreme Court held in 2025, in For Women Scotland, that "man," "woman" and "sex" in the Act carry biological meanings. Gender-critical belief is capable of protection under the Act, as Forstater established. Presenting a contested theory as settled law, then requiring students to attend, is not neutral instruction.

The Office for Students' Regulatory Advice 24 allows universities to require training that advances positions a person may disagree with. It does not allow them to "require training or induction that imposes a requirement on the person completing the training actively to endorse any viewpoint or value-judgement."

CAF has asked the obvious follow-up: whether Caius students will be expected to produce the promised "collective and unified response" by accepting the premises, for instance by labelling prescribed scenarios as microaggressions. The committee has invited students who are required to assent to anything to get in touch.

Stop Hate UK has claimed that "Islamophobia is a crime." It is not. Britain has no blasphemy law. The same organisation has treated truthful reporting on the Muslim grooming gangs scandal as a source of hatred, writing that "this leads to the formation of Anti-Muslim attitudes, subconscious biases and hate."

Its work on the subject cites the Centre for Media Monitoring, then part of the Muslim Council of Britain, an organisation successive governments have refused to engage with since 2009.

That is the same territory covered by Labour's non-statutory definition of "anti-Muslim hostility," which Communities Secretary Steve Reed sold as a tool "so we can take action to stop it," and which the Free Speech Union's Richard Holmes warned "risks hindering free speech under the law and legitimate criticism of Islamism." Schools were urged to monitor and report it.

Cambridge has form on this. Philosopher Nathan Cofnas was hired under Cambridge's 2020 free speech statement, then investigated for the better part of two years after publishing on hereditarianism and affirmative action.

The university eventually concluded that his views, "while seen by many as offensive, did not breach the law and did not contravene University regulations designed to uphold free speech." By then the contract had run out.

Cofnas's account of it was blunt: "I was betrayed the moment the administration determined that free speech was inconvenient for it."

Caius has form of its own. In 2022 the master and a senior tutor wrote to students about a Helen Joyce event on gender-identity ideology, saying they did not "condone or endorse" views they considered "offensive, insulting and hateful," and that the college would "continue to strive to make Caius an inclusive, diverse and welcoming home." The new sessions are that email turned into a timetable.

The pattern below the university line is the same. In Sheffield, school materials have told children that "black people can be racially prejudiced towards a white person which is wrong and totally unacceptable. However, this is not racism. Racism is racial prejudice plus power. In the UK, white people hold the cultural power."

In Barnet, a Labour council approved taxpayer funding for an Islamic primary that requires girls as young as seven to wear a hijab from Year 3. Stephen Evans of the National Secular Society called it "appalling that taxpayers are being asked to fund a school that forces girls as young as seven to wear the hijab."

Back at the University level, in Northampton, freshers were pointed at an Advance HE module on "Whiteness, Privilege and Belonging." The university said "inclusivity is one of our core values, and we make no apologies for that." Philip Kiszely, on TalkTV, answered that "there is NO WHITE PRIVILEGE in higher education. The anti-racism system is the problem, which is overtly racist."

A university that cannot tell the difference between a crime and a parking complaint, or between the Equality Act and a leftist activist group's preferred version of it, is not protecting its students. It is training them to treat argument as harm and dissent as a hate incident.

The Office for Students now has a complaints scheme under the Higher Education (Freedom of Speech) Act. Caius has just given its undergraduates a reason to use it.

Tyler Durden Mon, 10/05/2026 - 12:00
Tyler Durden

Aramco Cuts Asia Oil Prices To Six-Year Low, Warns Global Oil Supply Buffer "Scarily Thin"

Zero Rss
1 day 23 hours ago
Aramco Cuts Asia Oil Prices To Six-Year Low, Warns Global Oil Supply Buffer "Scarily Thin"

Saudi Aramco has raised oil prices for European-bound cargoes in November but has cut prices for Asian buyers to the lowest in six years as Persian Gulf producers race for market share with flows through the Strait of Hormuz increasing. 

The state-owned firm will offer Arab Light crude to buyers in Asia to $5 a barrel less than the Dubai/Oman benchmark for November, according to Bloomberg citing a list from the producer. That compared with a discount of $2 a barrel for this month. Traders and refiners had expected a $5 increase from October, a Bloomberg survey shows. 

The unexpected cut amounted to $3 per barrel - which is the lowest since June 2020, not long after crude hit negative prices for the first and only time in history - is a signal the world’s largest oil exporter may be trying to boost sales to Asia, along with other Persian Gulf producers. Aramco raised November prices to Europe by $3 a barrel, and left those to the US unchanged from this month.

For European buyers, on the other hand, the November oil price will be $3 per barrel higher than it was for this month, across all grades. The prices for Saudi oil grades sold to the United States remained unchanged from  October. 

The discount for Asian buyers is likely a response to a surge in shipping costs for the Hormuz route, where Saudi Arabia is using ship-to-ship transfers in the Gulf of Oman to reduce the risk of Iranian attacks on vessels carrying its crude. The STS involves sending smaller vessels to pick up crude from the Persian Gulf, pass through Hormuz, and offload the crude onto VLCCs waiting off Oman. This oil-shuttling has boosted the cost of transporting crude from the Persian Gulf to other parts of the world, mostly Asia.

The freight cost for a very large crude carrier has soared to an all-time high of $1.3 million per day because of the Hormuz situation. This is up 43 times from January this year, when the rate for a VLCC stood at some $30,000 per day, according to Bloomberg.

Because of these price developments, freight costs now add some $33 to the price of a barrel of oil getting shipped out of the Persian Gulf. This compares to $1.73 per barrel in January. In percentage terms, freight costs now represent 27% of the delivered cost for a VLCC cargo, versus 3% in January, the Poten & Partners data also showed.

Meanwhile, at roughly the same time as it was slashing prices to capture some of the UAE's market share, the head of Saudi Arabia’s state producer said that oil stockpiles that cushion the world from supply shocks have become “scarily thin,” putting markets at risk of worsening unless the Strait of Hormuz reopens.

The head of the world’s single biggest crude exporting company was speaking just days after governments in the world’s biggest economies announced plans to release as much as 100 million barrels of emergency oil and diesel stocks to ease rising fuel costs.

“Until Hormuz fully re-opens and confidence returns, the crude reality is that pressure at both ends of the barrel will intensify,” Amin Nasser, chief executive of Saudi Aramco, said at the Energy Intelligence Forum in London on Monday. “While the squeeze on crude is serious, refined fuel prices have risen even more sharply.”

Consumption of crude is still rising and countries will require even more supply for at least the next two years while rebuilding their inventories, Nasser said. That could mean additional demand of at least 2 million barrels a day, or even more if governments decide to increase the amount of oil they hold in stockpiles, he said. 

Commenting on the latest emergency release, Rabobank's Michael Every writes that the 50 million barrels of oil that Europe agreed to release (following US demands) are not from a government-owned facility but private stocks and were reportedly already available for sale, "but Europe is instead opting to buy cheaper US flows. So, the EU move was serious, showing who still asks, ‘How many barrels?’ when the White House asks for a jump in output, yet performative in that truly cheap diesel will remain in short supply."

When the US-Iran war began, the world had about 10 billion barrels of oil stocks, Nasser said. That has fallen to less than 6 billion, of which only 10% of which is practically available due to various technical restrictions, he said, echoing what JPM's Natasha Kaneva warned about back in May.

Source: JPMorgan

Releasing part of what’s left in global stockpiles will buy economies some time but won’t fix the imbalances between supply and demand, Nasser said. Gulf producers are working to ramp up production and exports and have succeeded in boosting crude flows to near prewar levels.

Saudi Arabia and neighbors like the United Arab Emirates and Kuwait have been using their own tankers to ship crude through Hormuz, which has been at least partly obstructed since the US and Israel attacked Iran at the end of February, kicking off a regional war.

The higher flows have provided scant relief for oil markets, which are still pricing in security risks to supply in the Persian Gulf and Red Sea. Brent crude, the international benchmark, has traded around $100 a barrel over the past month, even as more tankers transited Hormuz. Those vessels have had to run the risk of heightened attacks, while Saudi Arabia has been repeatedly targeted over the last month.

Still, all of Aramco’s upstream capacity remains intact, Nasser said. That has allowed the company to continue covering its supply contracts with buyers in Europe and Asia. The company has used various export routes, shifted supply between its different crude grades and pressed its own tankers into operation to supply customers, he said.

Over the past month, Aramco boosted crude shipments from its main export terminal at Ras Tanura in the Persian Gulf. The company reacted quickly to a temporary halt to its main cross-country pipeline after an attack last month, and has since brought flows back to about 80% of capacity, although earlier today we got reports of another massive explosion on the East-West pipeline which likely halted shipments again. 

"Massive fires" on the Saudi oil export pipeline: Sabereenhttps://t.co/WliqWfrUQY pic.twitter.com/WKpjzRWpL7

— zerohedge (@zerohedge) October 5, 2026

Aramco is looking for alternative crude export routes to avoid relying too much on any single method of reaching global buyers, Nasser said, without providing specifics. The company is studying plans that would double or triple the capacity of its storage facilities, he said.

Tyler Durden Mon, 10/05/2026 - 11:40
Tyler Durden

Lingering Iranian Diplomats In New York 'Kicked Out' By Rubio

Zero Rss
1 day 23 hours ago
Lingering Iranian Diplomats In New York 'Kicked Out' By Rubio

The 81st session of the United Nations General Assembly took place September 22–29 in New York City, with the Iranian delegation being allowed into the country (even as the delegation of the Palestinian Authority was blocked).

President Masoud Pezeshkian addressed the UNGA without any problems, and Foreign Minister Abbas Araghchi engaged in talks with the US on the sidelines and via mediators. Both top officials exited the country, after safety concerns were voiced in Iranian outlets - given the US is engaged in an active war with the Islamic Republic.

But apparently a couple of Iranian diplomats that traveled with the delegation lingered behind and are now being "kicked out" - according to Axios reporting on Sunday.

A US official described to the outlet the the Iranian officials stayed in New York for multiple days after the Trump administration ordered the Iranian delegation out of the country.

"Secretary Rubio means business. Two more members of the Iranian delegation were found still in New York long after the U.N. General Assembly had passed. They have now been kicked out of the country," a US official said.

But the two have now departed, with one having left Friday and the other Saturday morning, the US official detailed.

Iran's Foreign Ministry has disputed the account, with FM Araghchi having stated on X, "All Iranian diplomats who attended UNGA, except one who departed earlier, left as scheduled."

Araghchi took the opportunity to blast the United States as not upholding its diplomatic obligations as a host nation for UN headquarters.

"Taking pride in fake diplomat ‘expulsion’ is inappropriate for the head of any diplomatic corps,” he had said Saturday. "It oozes of desperation and defeat, and is inconsistent with UN host nation obligations."

Many nations would likely be more comfortable is UN headquarters were based in Europe, or some other more neutral region.

Washington not infrequently uses its power to grant or deny access to UN headquarters in New York as leverage over countries it deems 'rogue' actors. For example, it regularly does this with Palestinian representation.

Tyler Durden Mon, 10/05/2026 - 11:10
Tyler Durden

Key Roles Over Payrolls

Zero Rss
1 day 23 hours ago
Key Roles Over Payrolls

By Michael Every of Rabobank

Friday’s US payrolls were weaker than expected at 29K, another random walk which helped walk soaring bond yields back from the edge of the cliff, at least temporarily. However, far more important things are happening than that report, much as it’s a markets catechism to repeat it.

Europe agreed to US demands to release 50m barrels of its diesel reserves over the next two months, which saw prices dip, also helping yields fall. However, those reserves are not from a government-owned facility but private stocks and were reportedly already available for sale, but Europe is instead opting to buy cheaper US flows. So, the EU move was serious, showing who still asks, ‘How many barrels?’ when the White House asks for a jump in output, yet performative in that truly cheap diesel will remain in short supply. Which geopolitics, not payrolls, will also tell you.

Yemen’s government launched a Saudi-backed offensive to seize all areas held by the Iran-backed Houthis – that means a war and instability around the Red Sea and Bab-el-Mandeb. Egypt, Eritrea, Somalia, and Sudan called on Ethiopia to cease attacks on the separatists in Tigray Addis Ababa accuses them of backing: the risks are of more fighting on the other side of the Red Sea too. Iran is considering Russia's offer to take its 60%-enriched uranium according to one report, and its foreign minister tried to claim asylum in the US before his family was threatened according to a rumor, but Tehran is increasing the range of its missiles and preparing for new US attacks as strikes against tankers in Hormuz increase. The US has also now removed all its B-1 bombers from the UK base just subject to a suspected Iran-linked terror attack amid security concerns, yet the British have, confusingly, bailed all those arrested over it.

Ukraine’s Zelenskyy stated he will step up attacks on Russian oil refineries, but that the US wants to hold trilateral talks with Russia this month. Germany’s Merz visited Kyiv, which Russia attacked again, announcing $1.5bn in aid including interceptor drones and air defence missiles - Ukraine equally believes that Russia has shared its new jet-drone technology with North Korea. The US is also to receive a potash shipment from Belarus as it tries to create a wedge between it and Moscow, and Poland and Romania are meanwhile shunning Kyiv's pleas to help it free grain trapped by the Black Sea’s de facto closure. Worryingly, the White House is now monitoring a suspected plague outbreak in Russia following an accident a bioweapons lab: some reports say three Siberian hospitals nearby have been quarantined.

As the Hong Kong press says, ‘China urged to build 'system' to protect expanding overseas interests’ to “reshape the rules,” the Taipei Times claims the Pentagon is to assign representatives to Taiwan’s Ministry of National Defence, who “would be able to participate directly in defence discussions, including weapons procurement.” That would seem close to a red line for China just after a Trump-Xi summit and ahead of two more meetings alongside Putin before year-end.

In geoeconomics, China claims most of the G20 rejects the US call for its capacity curbs – yet its press notes even allied Russian consumer exporters are facing Chinese competitive pressure, and the Beijing-sympathetic Thailand is seeing protestors slamming Chinese and other foreign companies. Moreover, the UK is expected to impose 45% tariffs on Chinese EVs to avoid ‘Made in Europe’ clashes despite the absence of economic statecraft from British PM Burnham’s relaunch, the Liberal Democrats, Reform, and the Conservative Party’s new mission statement.

Here is the key point I keep stressing: smaller economies will have to adopt the external tariffs set by larger ones as the world fragments. The key questions are how it fragments and who plays what role.

On which, pro-Trump presidential candidate Flavio Bolsonaro leads the incumbent Lula in the first round of Brazil’s election by 47.0% to 45.2%. The margin of that lead combined with the votes for other right-wing candidates suggests to some analysts he is now the clear favourite to get over 50% in the run-off on October 25. At the same time, Bolsonaro's Liberal Party (PL) also just saw the most state governors, senators, and federal deputies elected in parallel elections, giving it the most influence in the next Congress. That has huge implications for Brazil, as Reuters notes how the election winner ‘could reshape its institutions as vacancies mount’.

It also has huge global implications. If Brazil ‘flips’, and we are not there yet, it would effectively leave the BRICS with RICS, of which only RC are deeply connected and would see only Nicaragua, Canada, and already-squeezed Cuba of note out of the emerging ‘Donroe Doctrine’ loop given Greenland has been sealed into it – and potentially very much to the AmericaS’ (plural) benefit, which in a more zero-sum world is therefore to others’ detriment. The western hemisphere is after all close to the Middle East in terms of energy production and refining capacity, a giant in agri production, has vast resources of all kinds, and a combined population of around a billion.

Of course, the test would be if the US National Security Strategy is serious about “the goal is for our partner nations to build up their domestic economies, while an economically stronger and more sophisticated Western Hemisphere becomes an increasingly attractive market for American commerce and investment” behind a common external tariff, or if America First is still just cheap labor banana-republic neoliberalism that can be easily outbid on the geopolitical chessboard by others.

Nothing is yet certain, but this could be yet another key if-lines-on-maps-move-so-do-lines-on-screens moment in the making for markets.

Tyler Durden Mon, 10/05/2026 - 10:50
Tyler Durden

We May Finally Be Rid Of Jack Smith

Zero Rss
2 days ago
We May Finally Be Rid Of Jack Smith

Authored by Susan Quinn via American Thinker,

Sen. Bill Hagerty, R-Tenn wants to make sure that Special Counsel Jack Smith never practices law again.

It's about time.

Jack Smith tried to lay waste to Donald Trump, his administration, and other Republicans by practicing lawfare, and Sen. Hagerty reported him to the Tennessee Supreme Court's Board of Professional Responsibility. Smith's actions were blatantly partisan, seriously questionable, and dishonest: he not only issued subpoenas to phone companies for phone toll records of GOP officials, but he added non-disclosure agreements to prevent the legislators from being notified of these actions. Not only were Smith's actions illegal, but he lied to Chief Judge James Boasberga in withholding the explanation that the data sought belonged to members of Congress:

Smith violated the Rules of Professional Conduct by seeking and obtaining a nondisclosure order from a federal district court without advising the court of critical facts and law. The impact of his lack of candor was a violation of federal law, and an invasion of the very constitutional privileges that ensure a fully free legislative process.

Sen. Hagerty states that Smith drafted the subpoenas and Judge Boasberg probably never read them and simply rubber-stamped them; he also didn't reference the Speech or Debate Clause that requires notice to the person being subpoenaed when someone seeks Senate information.

Hagerty recommended that Smith be disbarred.

In addition to Hagerty's action, U.S. senators Marsha Blackburn (R-TN) and Bill Lee (R-TN) have filed a lawsuit against Smith. They claim that A.G. Merrick Garland's appointment of Smith was unlawful and hold him accountable for his abuses of the law. They are only seeking $1 in damages:

'Through his Arctic Frost witch hunt that targeted conservatives across America and even the President of the United States, Jack Smith perpetrated one of the worst abuses of government power in our nation's history,' Blackburn stated.

Blackburn said, 'This lawsuit is solely about holding Mr. Smith accountable and ensuring that our nation's justice system can never again be weaponized against the American people.'

Jack Smith's outrage at being called out was - well - outrageous, given the laws he's broken. Two of the most credible members of the Senate Judiciary Committee, respected on both sides of the aisle - Senator Chuck Grassley from Iowa and Senator John Kennedy from Louisiana - condemned Smith without hesitation. Senator Grassley opened the hearing by accusing Smith of breaking the law and lying. In his usual graphic fashion, Senator John Kennedy told Smith, "You make me want to throw up in my mouth," when Smith refused to acknowledge his partisan activities.

For too long, we have tolerated rogue prosecutors like Fani Willis, Alvin Bragg, and Letitia James, along with A.G. Merrick Garland and A.G. Eric Holder. Most of them have only received a slap on the wrist and no serious consequences for their disgraceful behavior. It's about time that we set an example that truth and the rule of law matter, and we are taking back the power of government.

Tyler Durden Mon, 10/05/2026 - 10:15
Tyler Durden

Tech Leads Strong Growth Signals From US Services Sector Surveys; But Prices Are Soaring

Zero Rss
2 days ago
Tech Leads Strong Growth Signals From US Services Sector Surveys; But Prices Are Soaring

After last weeks impressive moves in Manufacturing survey data (though burdened with the baggage of a surge in Prices Paid), all eyes are on the Services side of the US economy with mixed results expected (S&P up, ISM small down).

  • S&P Global US Services September slightly better than expected (58.8 vs 58.7 exp/flash vs 56.5 prior) - strongest in five years

  • ISM US Services slightly worse than expected (54.9 vs 55.0 exp vs 55.4 prior)

Quite a divergence...

“September has seen US business growth surge to its highest for over five years," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, "with rising demand and improved optimism encouraging firms to take on workers at a pace not seen for over four years.

Combined with the encouragingly solid manufacturing PMI, the strong service sector expansion points to economic growth of around 4% in the third quarter and 5% in September alone, the latter hinting at accelerating momentum into the fourth quarter.

This also leaves the US economy by far the strongest in the world...

New orders and backlogs of work are rising at increased rates and growth expectations have recovered to a one-year high, adding to the sense of an economy picking up further pace in the near term.

For the first time in 10 months, output trended higher across all five broad sectors covered by the survey as transport & storage activity returned to growth. By far the sharpest expansion was seen in the information & communication sector, however.

“Tech companies are reporting by far the strongest growth but the rising tide is now lifting all boats as far as the major sectors are concerned, with accelerating growth also reported for consumer-facing businesses as well as industrials and healthcare, alongside sustained solid growth in financial services."

However, concerns that the economy is running too hot will be fueled by the survey’s price gauges, which point to accelerating inflation.

Measured across goods and services, firms’ input costs are now rising at the fastest rate for nearly four years.

"While these increased costs in part reflect higher fuel prices, the worry is that selling price growth has also moved higher again to signal sustained stubbornly high inflation, well above the Fed’s 2% target."

Stronger growth and sticky/soaring inflation are going to counter the dovish message from last week's FedSpeak and weaker payrolls.

Tyler Durden Mon, 10/05/2026 - 10:05
Tyler Durden

84% Of Gen Z Democrats Back Socialism; New Poll Finds

Zero Rss
2 days ago
84% Of Gen Z Democrats Back Socialism; New Poll Finds

Authored by Pedro Rodriguez via The Daily Signal,

A groundbreaking new poll conducted ahead of November's midterm elections has uncovered that over 30% of Americans have a favorable view of socialism.

According to the OnMessage poll, which surveyed 800 American voters from July 12-16, 35% of respondents identified as Democrats, 84% of whom identified as Gen Z.

"Embracing socialism is no longer a fringe talking point for Democratic voters. Our data shows that a majority of Democrats of all ages hold favorable views of socialism, including 84% of Gen Z Democrats," Henry Parkhurst, the OnMessage pollster who carried out the survey, told the Daily Signal.

The findings confirm that the Democratic Party's claim that socialism is a "fringe issue" is no longer true, and that socialism has spread into the party's core.

Marxist Utopia Debunked by Survivors of Communism

The Daily Signal's Journalism Fellow, Pedro Boccalato Rodriguez, and the Manhattan Institute's Policy Fellow, Daniel Di Martino, draw on their experiences under Marxist rule to debunk the communist talking points pushed by… pic.twitter.com/FdIJJmDb1e

— Daily Signal (@DailySignal) August 9, 2026

"While the national Democratic Party may claim to be divided on how far they're willing to lean into socialism, their voters clearly show they're encouraging the party to move in that direction," Parkhurst added.

The survey came months after the Democratic Socialists of America touted a historic increase in membership, coupled with the rise of DSA-affiliated candidates and officials across the country.

Now, in the next Congress, at least five new DSA members will be sworn into the House of Representatives, adding to the growing number of socialist officials like Seattle Mayor Katie Wilson, New York City Mayor Zohran Mamdani, and Rep. Alexandria Ocasio-Cortez, D-N.Y.

Senate candidates Angie Nixon in Florida and Abdul El-Sayed in Michigan also have a fair shot at winning their races this November.

OnMessage revealed the findings after conducting text-to-web interviews and recording historic respondent turnout.

The survey also oversampled voters under 45, resulting in approximately 600 Gen Z and Millennial voters for in-depth analysis.

The margin of error for this survey is +/- 3.5%.

Tyler Durden Mon, 10/05/2026 - 09:45
Tyler Durden

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