Waste Of The Day: IRS Enforcement Delayed Authored by Jeremy Portnoy via RealClearInvestigations, Americans underpaid their taxes by an estimated $696 billion in 2022, according to new data released by the Treasury Inspector General for Tax Administration. Most of the money came from people and businesses that understated their income. But 9% came from people who didn’t file a tax return at all, and efforts to track them down […]

Cotton Calls For Military Supply Chain Security Review After F-35 Parts Diverted To Hong Kong Authored by Arthur Zhang via The Epoch Times, Sen. Tom Cotton (R-Ark.) asked the Department of War on Sept. 29 to review security controls for U.S. military equipment and supplies transported through commercial and contractor-managed supply chains, citing reports that F-35 components bound for the United States from Australia were diverted […]

Mystery Shrouds Destruction Of US Spy Satellite A mysterious breakup of a decades-old American spy satellite has sent debris hurtling through low-Earth orbit, with the U.S. Space Force now tracking the fragments for potential threats to other spacecraft, according to Space-Track. The satellite, known as USA 32, came apart on September 13 at approximately 5:13 p.m. ET, according to U.S. Space Forces-Space. Officials have not […]

Tennessee Man Who Recorded Police Sues After Eight Armed Officers Raided His Home A Tennessee man has taken legal action against the Kingsport Police Department after a yearslong criminal case that began with him recording an officer on the road and ended with an appellate court throwing out his conviction, according to Fox News. Joshua Gibbons says police targeted him because he publicly called attention to an officer’s […]

Remembering The False Gloom And Doom Of The 1992 Elections… And The Upcoming Midterms Authored by Victor Davis Hanson via American Greatness, Republicans risk repeating 1992 by failing to counter economic pessimism with the facts about strong growth, falling inflation, rising incomes, and a recovering economy. In 1992, Bill Clinton won the presidential election partly on the basis of his campaign’s false accusation that George […]

“Showings Have Stopped”: Housing Market Freezes As Mortgage Rates Soar To 7.28%, Highest In 3 Years The American dream has never been more out of reach. Mortgage rates posted their largest increase in four years this week, one of the clearest signs of how the recent bond-market selloff is spilling into the broader economy – if not memory and chip stocks which continue to trade entirely on the highly efficient circular financing and […]

Supertanker Ablaze After Iran Attack In Hormuz As US Deploys 10K More Troops & Third Carrier To Mideast Update(1530ET): Iranians are apparently going back on the offensive, after it’s been widely reported that US-protected oil transit through the Strait of Hormuz has been fast gaining steam. Iran state media says a supertanker is burning off the coast of Oman after coming under Iranian attack: Local sources reported that a […]

‘Covered Their Tracks’? New Details Emerge In OpenAI’s ‘Rogue-AI’ Breach OpenAI’s AI agents “obscured hacking activity” during breaches of government websites, citing digital forensics firm Asymmetric Security. According to the FT, the agents pulled data from 55 websites, including the CDC, the SEC, the International Energy Agency and the Mayo Clinic, using tactics that included “erasing records or making them inaccessible.” […]

France Erupts Into Chaos As “Rioting Migrant” Kids Torch Schools And Busses Social unrest erupted across hundreds of French high schools and dozens of universities Thursday, forcing Prime Minister Sébastien Lecornu to convene an emergency meeting to address the “urban violence.” Corporate media describes the rioters as “French students” or “high school students,” while alternative media outlets such as Remix News and Visegrád24 […]

Cantor: Almonty “Moving Seamlessly” Into Production As Korean Tungsten Mine Becomes Western Lifeline Cantor Fitzgerald metals and mining analyst Matthew O’Keefe provided clients on Tuesday with an update on Almonty Industries, citing a corporate update from CEO Lewis Black. The miner’s crown jewel tungsten mine in South Korea has begun shipping concentrate as the West’s answer to conflict-free tungsten supply comes online, playing […]

What Zohran Mamdani Could Learn From His Father Authored by Peter Jacobsen via The Daily Economy, Before Zohran Mamdani burst onto the scene of NYC politics with promises of cheap groceries, rent control, and calls to seize the means of production, his father, Mahmood Mamdani, was making important political contributions himself. The elder Mamdani’s work is more academic in nature and generally more interesting than the “free […]

Watch Live: SpaceX To Launch Google AI Chips Into Orbit In Push For Space-Based Data Centers Specialized chips Google designed to run artificial intelligence workloads will be catapulted into low Earth orbit on Thursday afternoon atop a Falcon 9 rocket from California’s Vandenberg Space Force Base, with hopes of making data centers in space a reality amid growing backlash on the ground that has sent many terrestrial projects into a […]

Debt Crisis Back? European Bond Markets Crash, CDS Explode Amid France Budget Panic Contagion It’s starting to smell awful sovereigny crisisy in Europe all over again. In a vivid deja vu to the peak European debt crisis days of 2010 (and 2011… and 2012… and 2015), credit spreads, credit default swaps and the risk premium in euro-area government bonds exploded on Thursday to levels not seen in over a decade, following a rout […]

Jensen, Zuck Gang Up On ‘Doomer’ Dario Behind Closed Doors At White House AI Summit Tuesday’s White House “Super Intelligence” luncheon was sold as a kumbaya moment. Tech titans flanked President Trump on the driveway after signing a voluntary, “morally binding” pledge to police themselves, and the cameras got their picture of a united industry calming the public’s nerves. Behind the scenes, it was a different story. According […]

NANO Nuclear Buys The One Thing You Can’t Speed Up: A Fuel-Cycle License Ask anyone in the nuclear business what holds up the “renaissance” and you won’t hear much about reactor physics. You will hear about paperwork, fuel, and paperwork for fuel. The DOE’s Deputy Secretary James Danly put it bluntly last week: “If we are going to have this nuclear renaissance, we are not going to be able to do it without fuel.” So it makes sense […]

Sen. Marsha Blackburn Sues Former Special Counsel Jack Smith Authored by Troy Myers via The Epoch Times, Sen. Marsha Blackburn (R-Tenn.) on Wednesday sued former special counsel Jack Smith and the Department of Justice (DOJ) over a subpoena Smith’s office issued for her phone records during his investigation of President Donald Trump’s actions around Congress’s certification of the 2020 election. Blackburn alleged Smith violated […]

Federal Judge Blocks $100,000 Fee For H-1B Visas Authored by Joseph Lord via The Epoch Times, A second federal judge has blocked the Trump administration from imposing a $100,000 fee on H-1B visas, which allow U.S. companies to hire high-skilled foreign workers. U.S. District Judge Haywood Gilliam, based in Oakland, California, determined that the U.S. Citizenship and Immigration Services and the State Department did not adhere […]

Musk, Luckey And Gingrich Walk Into The Pentagon: Hegseth Unveils “Project Meridian” As Defense Stocks Suffer Record Losing Streak What do you get when you put the world’s first trillionaire, the man who builds killer drones in Ohio, and a former House Speaker in a room and ask them to design the next century of warfare? According to Pete Hegseth, you get “Project Meridian.” In a sprawling “State of the Force” address to junior […]

Opposite What You’re Told, Markets Don’t Wait For The Fed Authored by Shahid Islam via RealClearMarkets, Financial commentary often makes monetary policy sound mechanical. The Federal Reserve raises interest rates, borrowing costs rise. The Fed cuts rates, borrowing costs fall. History is considerably messier. Beginning in June 2004, the Federal Reserve raised its federal-funds target 17 consecutive times, taking it from 1 […]

Global Crop Prices Log Biggest Quarterly Jump Since Ukraine Invasion As Sticky Inflation Hits Grocery Bills The Bloomberg Agriculture Spot Index (BCOMAGSP) posted its largest quarterly gain since Russia invaded Ukraine in early 2022, as Black Sea disruptions, a crisis in the Strait of Hormuz, and mounting El Niño risks have formed what could be considered a perfect storm poised to drive food prices higher. BCOMAGSP, which tracks […]

AI Less Than A Year Away From Developing Its Own Language, Researcher Tells Congress Authored by Jacob Burg via The Epoch Times, Advanced artificial intelligence (AI) models may be less than a year away from inventing and deploying unique languages that humans would struggle to understand, a frontier AI researcher told Congress on Sept. 30. The Senate Homeland Security and Governmental Affairs Committee convened a meeting […]

US Manufacturing Survey Strongest Since May 2022 On AI Spend, Prices Paid Spike Following the explosive growth signaled by S&P Global’s PMI data last week, this week we get a final look for September’s Manufacturing surveys and fresh data from ISM. S&P Global’s final September read for US Manufacturing dipped from the preliminary level but remains at its strongest since May 2022. ISM’s September survey of US Manufacturers […]

‘Iran’s Deadline Expires Today’: Tehran Threatens Renewed Attacks As Blockade Bites, Rial Collapses The Iran conflict is currently in an all too familiar stalemate, and many of the same statements are being regurgitated from each side – but this does indicate that negotiations have not yet entirely collapsed. Tehran is still apparently reviewing a Trump administration counterproposal to last week’s Iranian seven day ceasefire pitch […]

US Warns Europe: Release Emergency Diesel Supplies Or Face Export Ban The refined products crisis remains unresolved as the Northern Hemisphere winter approaches.  Speaking in the Oval Office on Wednesday, President Trump said he holds discussions “every day” about a potential diesel export ban, blaming Russia’s war in Ukraine for fueling the supply squeeze. His administration is now pressuring European governments to release […]

The Data Center Boom Faces Mounting Obstacles By Brian Martucci of UtilityDive, The U.S. data center boom has entered a new, contradictory phase. On the one hand, both data center construction activity and credible forecasts for near-term capacity additions to the electric grid to serve data centers remain robust. The Electric Power Research Institute, for example, said in February that data centers will represent up to 17% of […]