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Hawkish FedSpeak Batters Bonds & Bullion; Tech Melt-Up Accelerates ‘Positive’ jobless claims data (which simply unwound last week’s farce in MA) and ‘not pretty’ existing home sales data were dominated today by some notably more-hawkish-than-recent-norms FedSpeak to start the day: Dallas Fed’s Logan: “The data in coming weeks could yet show that it is appropriate…

Disney Abandons Billion-Dollar Florida Development Plan, Shutters ‘Galactic Starcruiser’ Hotel Amid DeSantis Suit Disney is pulling the plug on a $1 billion development in Orlando Florida amid a fierce dispute with Governor Ron DeSantis (D). The complex would have brought in over 2,000 jobs to the region, with an average salary of $120,000, according to…

Turley: If Congress Really Wants Reform, Durham Has Given It A Blueprint For How To Do It Authored by Jonathan Turley, For those interested in the truth about the Russian collusion investigation, the Durham Report has hundreds of pages of details of the alliance of political, government and media figures behind arguably the greatest hoax in U.S.…

Turley: Durham Report Condemns FBI’s Russia Probe… But Don’t Expect It To Make A Difference Authored by Jonathan Turley, “Raw, unanalyzed, and uncorroborated.” Those words from the Durham Report summed up one of the most damning investigations in the Justice Department’s history. In the 305-page report released Monday, special counsel John Durham concluded that the…

US Officials Confirm Russian Strike On Patriot System In Ukraine: CNN On Tuesday Russia’s military announced it destroyed US-supplied Patriot anti-air battery in Ukraine during a hypersonic missile strike on Kiev. Widely circulating video appeared to confirm the destruction of a Patriot battery, but still there was much speculation over the event, given it was a…

Stockman: Why Grandma Yellen Must Be Forced To Prioritize Spending Authored by David Stockman via LewRockwell.com, Let’s first reprise the great 2011 debt ceiling showdown. On July 28, just a few days prior to when the Treasury’s borrowing authority would have been exhausted, the yield on the benchmark 10-year UST note stood at 2.98%. And despite…

Russia Says It Took Out US-Supplied Patriot Missile In Hypersonic Strike On Kiev Russia’s military may have taken out a US-supplied Patriot anti-air battery in Ukraine, which if true would be a very significant first since the advanced Raytheon-made defense weapon was deployed there. This came as Ukrainian officials have cited an exceptionally dense attack…

FBI Responds To Durham Report, Acknowledges ‘Missteps’ Authored by Gary Bai via The Epoch Times (emphasis ours), The Federal Bureau of Investigation (FBI) responded to Special Counsel John Durham’s report on Monday by acknowledging mistakes in its 2016-2017 investigation of the Trump campaign and noting that the agency had rolled out reforms in response to the…

Ukraine Officially Joins NATO Cyber Defense Center, Inching Toward Full Membership Ukraine has formally become a member of NATO Cyber Defense, as but the latest example of member nations seeking to bring the country along toward eventual full NATO membership. “The flag of Ukraine has been officially raised at the headquarters of the Joint Center…

US “Plans” To Buy 3 Million Barrels For SPR Days After It Drained 2.9 Million In One Week With oil stubbornly the only asset class that is pricing in if not a depression then certainly a deep recession – even as every other asset is already pricing in the inevitable Fed easing in response to…

Banks & Bond Yields Jump On Goolsbee, Gensler, Biden, Bostic, & Bad Data Today’s terrible, horrible, no good Empire Fed Manufacturing survey pushed the US Macro Surprise Index into the red, extending an almost non-stop decline over the past 7 weeks… Source: Bloomberg Debt Ceiling anxiety continues to soar with USA Sovereign risk remaining at…

Durham Releases Final Report, Concludes FBI Opened Trump Probe Despite No Verified Intel Special Counsel John Durham released his final report on Monday following over three years of investigation into the FBI’s handling of the Trump-Russia probe. According to Just the News, the report concludes that the FBI had no verified intelligence or evidence when…

Runoff Likely As Erdogan Drops Below 50% Update(1630ET): Erdogan has slipped below the 50% mark with about 90% of the votes counted. If no one crosses the 50-percent mark, the top two candidates will enter a second round run-off, which would be set for May 28. And here’s Anka news agency at 94.45 percent of ballot…

Daniel Penny Raises $1.6 Million Via GiveSendGo After Being Charged In Death Of Jordan Neely Authored by Jack Phillips via The Epoch Times, A crowdfunding campaign supporting the legal defense fund for former Marine Daniel Penny, who was charged in the death of a homeless man on the New York City subway, has surged to…

Never Forget: A Retrospective On The Media Lies Surrounding COVID Lest we get too comfortable once again and forget that only a couple years ago the western world was on the verge of perpetual medical tyranny, it is important to look back at the massive media disinformation campaign concerning the effectiveness (or lack of effectiveness)…

Egypt Rejects US Requests To Block Russian Military Flights Washington is trying to pressure Egypt into closing its airspace for all Russian military flights, but the regional US ally isn’t having it, which also awkwardly comes following a recent Pentagon leak showing Cairo planned to supply Moscow with rockets. “Egypt has ignored U.S. requests to…

Our Two Deep States: One Public, One Private Authored by Charles Hugh Smith via OfTwoMinds blog, One Deep State is bad enough, but a renegade, predatory private-sector Deep State is intolerable. In 2007, well before the term Deep State entered the common lexicon, I sketched the interconnected public-private pieces of the Deep State, which I termed the elite…

Non-Binary Character In New Transformer Cartoon Goes Viral As People Call For “Another Brand Boycott” Out of the ‘woke’ indoctrination ovens from studios in Hollywood is a children’s computer-animated television show called “Transformers: EarthSpark” that first aired on Paramount+ in November 2022 and has embraced the woke movement.  Paramount+ might be digging its grave after…

EU Considers Formally Banning Russian Oil Flows To Germany And Poland Authored by Charles Kennedy via OilPrice.com, The European Union is considering formally banning Russian crude flows via the Druzhba pipeline to Germany and Poland, which have already stopped importing Russia’s crude, Bloomberg reported on Friday, citing documents it has seen. The Druzhba pipeline is a key…

The S&P Is Up 8% In 2023; Without AI It Would Be Down 2%, Below 3,800 In the past month we have discussed on multiple occasions the unprecedented collapse in market breadth, driven by a record outperformance of a handful of tech names… … which has seen the Nasdaq’s advance/decline line plunge to all time…

The Great Left-Wing Disinformation Operation Against The Supreme Court Authored by Josh Hammer via The Epoch Times, The past five weeks has seen a flurry of media activity, clearly coordinated, against the right-of-center U.S. Supreme Court. First, the outlet ProPublica began publishing a series of pieces “exposing” the well-known fact of Justice Clarence Thomas’ long-running…

Mouse-House Mullered, Banks Battered, But Mega-Cap Tech Turbocharged China wasn’t pretty overnight, and then domestically, ugly jobless claims and cooler than expected producer price inflation offered some dovish hope (inflation weaker and growth weaker = less need for Fed tightening) but PacWest pissed in the punchbowl by admitting that 10% of their deposits left the…