Cartel Drones Fly With Explosives Near Southern Border 

Cartel Drones Fly With Explosives Near Southern Border 

Vice President Kamala Harris’ role as President Biden’s “border czar” has sparked the worst border crisis in American history, a fact well known by now. However, a new report highlights a concerning new threat stream: drug cartels on the southern border are increasingly weaponizing drones with explosives, similar to what’s being seen on modern battlefields in Eastern Europe and the Middle East. All of this is happening under VP Harris’ watch. 

Here’s the report from the New York Post

Cartel drones packed with explosives are flying just south of Arizona’s border with Mexico, The Post has learned, alarming Senate defense hawks who are pushing for legislation to counter novel aerial incursions into the US.

Members of Los Salazar, a cell of the notorious Sinaloa Cartel in Mexico, are using drones “to drop explosives” on Los Pelones, an independent rival cartel, as part of ongoing conflict in Sonoyta, Mexico, according to an internal bulletin circulated by the US Border Patrol’s Yuma Sector Intelligence Unit on Tuesday.

The US Border Patrol’s internal bulletin noted the following:

The Yuma Sector Intelligence Unit recently received information that members of Los Salazar are utilizing drones to drop explosives on members of Los Pelones in an ongoing confrontation south of Sonoyta, MX. Other confrontations between these two organizations have occurred along the border, south of Wellton Stations area of operations, in recent months.

Souce: NYPost

Separately, US Northern Command’s top general, Air Force Gen. Gregory M. Guillot, told the Senate Armed Services Committee in a hearing in mid-March that more than 1,000 incursions of drones occur along the southern border each month.

Guillot warned lawmakers on Capitol Hill that the incursions present a “growing” defense threat to the homeland

Since the Biden-Harris Administration assumed office, there have been more than 8 million illegal aliens encountered entering the country through the southwest border and over 1.6 million ‘gotaways.’ 

Biden-Harris’ border crisis is an absolute mess, which has contributed to murders, sexual assaults, and serious bodily injuries committed against numerous Americans by illegal aliens. 

Earlier this week, an interim staff report from the House Judiciary Committee and Subcommittee on Immigration Integrity, Security, and Enforcement, revealed nearly 100 illegal aliens on the FBI terror watchlist were released into the US after being arrested by Border Patrol. 

Most Americans care about two things before the elections: 1) inflation and 2) the border. 

For Harris and Obama’s Democrat party, there’s no escaping that disastrous border issue.

Tyler Durden
Fri, 08/09/2024 – 18:50

via ZeroHedge News https://ift.tt/7zlGEum Tyler Durden

Harris’s Big Gift To Trump… If He Uses It

Harris’s Big Gift To Trump… If He Uses It

Authored by Victor Davis Hanson via X,

Harris’s selection of Walz at least reveals the left’s full-bore agenda, something that previously her handlers seemed at pains to hide: an overt doubling down on the Biden neo-socialist record that will require a far more vigorous stealth 90-day campaign to camouflage the hard-left record of both Harris and Walz.

Minnesota under Walz became merely a smaller version of Gavin Newsom’s California – shameless woke pandering, wars against fossil fuels, fiscal nihilism, thousands fleeing the state, high crime, high taxes, poor services, sanctuary city/pro-illegal alien activism, eroding downtowns of once majestic cities, loud-in-your-face, attack-dog denials of reality, a two-tier state legal system, tolerance of BLM/Antifa/Hamas street violence, and on and on.

So Walz is a force multiplier of Harris’s vulnerabilities.

His selection (was Harris terrified of leftwing threats from her base that a Shapiro pick would guarantee her 1968-like riots at her Chicago convention?) did not just reveal the now overt anti-Semitic, anti-Israel nature of the Democratic Party (Shapiro would have likely ensured Pennsylvania’s electoral votes). Her pick also reveals the confidence that the Left has in winning what will be the most flagrant, bait-and-switch 90-day campaign in presidential history.

So, the real Harris-Walz campaign messaging will be: ‘In 2024 we have to lie and mislead you about who we are and what we did, so that in 2025 we can govern you in ways you will not like.’

What are the challenges for this weirdest of tickets?

Harris, in Biden-fashion, cannot finish a coherent thought. So again, like Biden in 2020, she will retreat and outsource her campaign to the media, while counting on outspending Trump 3-1, and radiating feigned moderation.

She is taking heat for neither yet meeting with a real journalist nor speaking impromptu. But in her defense, to do either might at any opportune moment collapse her stealth campaign, given that to listen to her for 60 seconds off script is to prefer her to remain silent and hidden. And she has confidence in absentia that a bankrupt media will praise her nonexistent elegance, fluency, and articulateness.

Walz will customarily serve as a designated hit man for Harris. But he is just as much a liability— a shoot-from-the-hip blowhard, while owning an even more embarrassing leftwing record than Harris. And he is even less discreet.

This week Walz introduced himself to the nation as a VP candidate by smearing J.D. Vance with the brazen “couch” lie. And then while foolishly beaming, he doubled-down on his crude slur (“See what I did there?”). So, he even outdid Harris who had recently called Trump a “predator”—just days before it was disclosed that her married husband earlier had once impregnated his own children’s young nanny and tutor and had never disclosed what followed from his predation.

Both will either ignore or lie about their joint opposition to fracking and pipelines; their disgraceful pro-BLM/Antifa advocacy during the lethal and destructive 2020 looting and rioting; their support for open borders and illegal immigration; their woke pandering; and their generic leftwing promotion of the usual high taxes, big government, poor services, and ‘who cares if they flee my state’ arrogance.

The Harris-Walz ticket will also collapse if, horribile dictu, the prior Biden-Harris appeasement of Iran, distancing from Israel, weakening of the military, and loss of deterrence in the next 90 days leads to theater-wide wars on the Ukrainian borderlands or in the Middle East and/or to a recession due to cumulative inflation, high interest, stagnant wages and anemic citizen employment, and unsustainable national debt service.

In sum, Trump is very much even in the race. He was given a rare gift by the shunning of Josh Shapiro as Harris’s running mate. That leftwing blunder could energize the Trump campaign—if again he sticks to warning the country of who these two are, what they have done, how they are hiding their real agendas, what they will do if elected, and how they differ from his own presidential record and future agenda.

Nothing else matters.

And that means Trump should ignore the now inert and evaporating Biden, refrain from attacking any Republican, stop all recriminations about 2020, avoid race and DEI ambushes, and prep hard and in detail for as many debates as he can obtain.

Trump should appear magnanimous and above the fray by compromising with Harris on the debates: one debate now by her rules on ABC, and one by his rules on Fox before early voting begins.

Rarely have the Democrats so foolishly gone hard left.

And when they did in 1972, 1980, and 1988, Republicans used to know how to use those gifts, expose them, and win landslides despite media and institutional bias.

They can do it again, but only if they are as adroit, united, and disciplined as their predecessors once were.

Tyler Durden
Fri, 08/09/2024 – 18:25

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Abbott Orders Texas Hospitals To Report Health Care Costs For Illegal Immigrants

Abbott Orders Texas Hospitals To Report Health Care Costs For Illegal Immigrants

Authored by Aldgra Fredly via The Epoch Times,

Texas Gov. Greg Abbott issued an executive order on Aug. 8 requiring that hospitals collect data on patients living illegally in the United States and report the costs of medical services provided to them.

In a statement, Abbott said he aims to collect data on illegal immigrants who use public hospitals so that Texas can seek reimbursement from the federal government for their medical expenses.

“Texas will hold the Biden-Harris Administration accountable for the consequences of their open border policies, and we will fight to ensure that they pay back Texas for their costly and dangerous policies,” the Republican governor stated.

Under the executive order, Texas hospitals are required to collect data on inpatient discharges and emergency visits by illegal immigrants, as well as the costs of medical services provided to them, starting on Nov. 1.

Hospitals will need to report the information to the Texas Health and Human Services Commission (HHSC) by March 1, 2025, and continue reporting data on a quarterly basis.

The executive order also requires that hospitals inform patients that, under federal law, their responses to questions about their immigrant status will not affect patient care.

It stated that HHSC will need to report annually to the governor, the lieutenant governor, and the House speaker on the preceding year’s costs for medical care provided to illegal immigrants starting Jan. 1, 2026.

Abbott said that people in Texas should not have to “shoulder the burden” of financially supporting medical care for illegal immigrants.

The Epoch Times has reached out to the White House for comment.

The Texas Hospital Association (THA), representing over 85 percent of the state’s acute-care hospitals and health care systems, said that it is reviewing Abbott’s executive order “as quickly as possible.”

“Right now, hospitals don’t ask about patient immigration status as a condition of treatment,” THA said in a statement.

“Hospitals are required by law to provide life-saving treatment to anyone, regardless of ability to pay or status.”

More than 1,000 illegal immigrants wait in line to be processed by U.S. Border Patrol agents after crossing the Rio Grande from Mexico in Eagle Pass, Texas, on Dec. 18, 2023. (John Moore/Getty Images)

Texas has seen a 74 percent decrease in illegal border crossings since the launch of the state’s border security mission, dubbed Operation Lone Star, in March 2021, the governor’s office stated on June 14.

As part of the initiative, state authorities have deployed floating border barriers, installed wire fencing, and used the Texas National Guard to stem the flow of illegal immigrants.

According to the statement, the multi-agency effort has led to over 513,700 illegal immigrant apprehensions and more than 44,000 criminal arrests, with more than 38,600 felony charges so far.

The Texas governor criticized President Joe Biden’s recent executive actions, announced by the White House in June, stating that they “will do little to stem the flow of illegal immigration into the country.”

“As long as the Biden Administration refuses to provide any type of enforcement, any type of blockage, of people crossing illegally, all that this new Biden policy is going to do is to actually attract and invite even more people to cross the border illegally,” Abbott said in the statement.

According to a White House fact sheet published on June 4, the executive orders will bar illegal immigrants from receiving asylum when border officials deem illegal border crossings are at “high levels.”

“This ban will remain in place until the number of people trying to enter illegally is reduced to a level that our system can effectively manage,” Biden said at a news conference on June 4.

U.S. Customs and Border Protection recorded more than 1.44 million encounters with people trying to enter the United States nationwide as of June 2024.

Tyler Durden
Fri, 08/09/2024 – 17:40

via ZeroHedge News https://ift.tt/Qeo4I8A Tyler Durden

Putin Said To Be Stunned By Ukraine’s Shock Attacks On Kursk & Lipetsk

Putin Said To Be Stunned By Ukraine’s Shock Attacks On Kursk & Lipetsk

In addition to the ongoing Ukrainian cross-border offensive in Russia’s Kursk region, Russia has been hit hard by a “massive attack” of drones Thursday and Friday, Lipetsk’s regional governor has said Friday.

The chief target appears to have been a nearby airfield. “The enemy is hitting civilians in Kursk and Belgorod,” Gov. Igor Artamonov wrote on Telegram. “Today [it] massively attacked our region with drones. We will not be frightened, we will not give in, but we are not going to risk the lives of our people either.”

The Ukrainian National News agency has claimed that some 700 guided bombs were destroyed in the strike on Lipetsk airfield. Russia’s defense ministry subsequently said it intercepted at least 75 “aircraft-type” drones in the southern region, and others were sent over Crimea and the Black Sea. The Skhemy investigative project of US state-funded Radio Liberty has circulated the following before and after satellite images of the airfield…

Thousands of civilians were already evacuated in Kursk, which has seen intense battles over the past four days of what appears an outright Ukrainian invasion attempt; and on Friday at least hundreds have been evacuated in western Lipetsk. Several villages have been emptied out amid a state of emergency.

New reporting by a source which claims to have an insider’s view on the Kremlin’s halls of power says President Putin and his top officials were caught off guard and stunned by these developments:

Ukraine’s surprise incursion into Russia’s Kursk and Lipetsk border regions has stunned the Russian military and come as a “slap in the face” to President Vladimir Putin personally, four Russian officials told Politika.Kozlov. 

The ongoing offensive, which Russia has failed to repel for three days, has exposed Russia’s territorial defense shortcomings and undermined Putin’s propaganda coup as the rescuer of an FSB hitman and failed Russian spies in last week’s prisoner swap with the West. 

The chief [Putin] was in a poor mood… He probably hasn’t been seen like this since our [Russian army] was forced to retreat from Kherson in the fall of 2022,” said an official involved in preparing Kremlin events involving Putin.

The official, along with Politika.Kozlov’s other sources, spoke on condition of anonymity due to the sensitivity of the topic.

Putin’s appearance and facial expressions during his public appearances on Wednesday and Thursday indicated that he was “dissatisfied” and “annoyed” with the situation, several Russian officials who have known Putin personally for years told Politika.Kozlov.

This also comes as images and videos widely circulate which point to serious Russian troop losses in these cross-border attacks on Kursk and Lipetsk.

Russian military surrenders at the Sudzha checkpoint.

Ukraine forces have also filmed themselves in possession of Gazprom natural gas facility in Sudzha…

Pro-Russian military bloggers have acknowledged the authenticity of many of these videos, and the troop losses which they reveal:

A video that surfaced online appears to show bodies on burnt-out Russian military trucks in the country’s southwestern Kursk region, the latest sign that Ukraine’s cross-border assault is probing more deeply and inflicting significant damage on Moscow’s troops.

In the daytime video – shared by Russian military bloggers and independent outlets, and geolocated by CNN – about a dozen trucks are seen on the side of a road in the village of Oktyabrskoye, about 8 kilometers (5 miles) east of the town of Rylsk, appearing to contain dozens of dead bodies.

…The video, which a Russian military blogger says shows the aftermath of a Ukrainian strike Thursday night, comes three days after Kyiv shifted tactics with a surprise incursion into Russian territory.

Despite these attempts of Ukrainian forces to capture territory inside Russia being essentially a suicide mission, Kiev is spiking the proverbial football and is seizing the moment to lobby for even more muscular Western military support.

Mykhailo Podolyak, an adviser to Zelensky, claimed that most of Ukraine’s Western allies “quietly approve” of the cross-border action.

Podolyak has praised the West’s reaction to the surprise assault as being “absolutely calm, balanced, objective, and based on an understanding of the spirit of international law and the principles of defensive warfare.” He added: “Now, a significant part of the global community considers [Russia] a legitimate target for any operations and types of weapons.”

Tyler Durden
Fri, 08/09/2024 – 17:20

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There’s Just One Problem: AI Isn’t Intelligent, And That’s A Systemic Risk

There’s Just One Problem: AI Isn’t Intelligent, And That’s A Systemic Risk

Authored by Charles Hugh Smith via OfTwoMinds blog,

Mimicry of intelligence isn’t intelligence, and so while AI mimicry is a powerful tool, it isn’t intelligent.

The mythology of Technology has a special altar for AI, artificial intelligence, which is reverently worshiped as the source of astonishing cost reductions (as human labor is replaced by AI) and the limitless expansion of consumption and profits. AI is the blissful perfection of technology’s natural advance to ever greater powers.

The consensus holds that the advance of AI will lead to a utopia of essentially limitless control of Nature and a cornucopia of leisure and abundance.

If we pull aside the mythology’s curtain, we find that AI mimics human intelligence, and this mimicry is so enthralling that we take it as evidence of actual intelligence. But mimicry of intelligence isn’t intelligence, and so while AI mimicry is a powerful tool, it isn’t intelligent.

The current iterations of Generative AI–large language models (LLMs) and machine learning–mimic our natural language ability by processing millions of examples of human writing and speech and extracting what algorithms select as the best answers to queries.

These AI programs have no understanding of the context or the meaning of the subject; they mine human knowledge to distill an answer. This is potentially useful but not intelligence.

The AI programs have limited capacity to discern truth from falsehood, hence their propensity to hallucinate fictions as facts. They are incapable of discerning the difference between statistical variations and fatal errors, and layering on precautionary measures adds additional complexity that becomes another point of failure.

As for machine learning, AI can project plausible solutions to computationally demanding problems such as how proteins fold, but this brute-force computational black-box is opaque and therefore of limited value: the program doesn’t actually understand protein folding in the way humans understand it, and we don’t understand how the program arrived at its solution.

Since AI doesn’t actually understand the context, it is limited to the options embedded in its programming and algorithms. We discern these limits in AI-based apps and bots, which have no awareness of the actual problem. For example, our Internet connection is down due to a corrupted system update, but because this possibility wasn’t included in the app’s universe of problems to solve, the AI app/bot dutifully reports the system is functioning perfectly even though it is broken. (This is an example from real life.)

In essence, every layer of this mining / mimicry creates additional points of failure: the inability to identify the difference between fact and fiction or between allowable error rates and fatal errors, the added complexity of precautionary measures and the black-box opacity all generate risks of normal accidents cascading into systems failure.

There is also the systemic risk generated by relying on black-box AI to operate systems to the point that humans lose the capacity to modify or rebuild the systems. This over-reliance on AI programs creates the risk of cascading failure not just of digital systems but the real-world infrastructure that now depends on digital systems.

There is an even more pernicious result of depending on AI for solutions. Just as the addictive nature of mobile phones, social media and Internet content has disrupted our ability to concentrate, focus and learn difficult material–a devastating decline in learning for children and teens–AI offers up a cornucopia of snackable factoids, snippets of coding, computer-generated TV commercials, articles and entire books that no longer require us to have any deep knowledge of subjects and processes. Lacking this understanding, we’re no longer equipped to pursue skeptical inquiry or create content or coding from scratch.

Indeed, the arduous process of acquiring this knowledge now seems needless: the AI bot can do it all, quickly, cheaply and accurately. This creates two problems: 1) when black-box AI programs fail, we no longer know enough to diagnose and fix the failure, or do the work ourselves, and 2) we have lost the ability to understand that in many cases, there is no answer or solution that is the last word: the “answer” demands interpretation of facts, events, processes and knowledge bases are that inherently ambiguous.

We no longer recognize that the AI answer to a query is not a fact per se, it’s an interpretation of reality that’s presented as a fact, and the AI solution is only one of many pathways, each of which has intrinsic tradeoffs that generate unforeseeable costs and consequences down the road.

To discern the difference between an interpretation and a supposed fact requires a sea of knowledge that is both wide and deep, and in losing the drive and capacity to learn difficult material, we’ve lost the capacity to even recognize what we’ve lost: those with little real knowledge lack the foundation needed to understand AI’s answer in the proper context.

The net result is we become less capable and less knowledgeable, blind to the risks created by our loss of competency while the AI programs introduce systemic risks we cannot foresee or forestall. AI degrades the quality of every product and system, for mimicry does not generate definitive answers, solutions and insights, it only generates an illusion of definitive answers, solutions and insights which we foolishly confuse with actual intelligence.

While the neofeudal corporate-state cheers the profits to be reaped by culling human labor on a mass scale, the mining / mimicry of human knowledge has limits. Relying on the AI programs to eliminate all fatal errors is itself a fatal error, and so humans must remain in the decision loop (the OODA loop of observe, orient, decide, act).

Once AI programs engage in life-safety or healthcare processes, every entity connected to the AI program is exposed to open-ended (joint and several) liability should injurious or fatal errors occur.

If we boil off the mythology and hyperbole, we’re left with another neofeudal structure: the wealthy will be served by humans, and the rest of us will be stuck with low-quality, error-prone AI service with no recourse.

The expectation of AI promoters is that Generative AI will reap trillions of dollars in profits from cost savings and new products / services. This story doesn’t map the real world, in which every AI software tool is easily copied / distributed and so it will be impossible to protect any scarcity value, which is the essential dynamic in maintaining the pricing power needed to reap outsized profits.

There is little value in software tools that everyone possesses unless a monopoly restricts distribution, and little value in the content auto-generated by these tools: the millions of AI-generated songs, films, press releases, essays, research papers, etc. will overwhelm any potential audience, reducing the value of all AI-generated content to zero.

The promoters claim the mass culling of jobs will magically be offset by entire new industries created by AI, echoing the transition from farm labor to factory jobs. But the AI dragon will eat its own tail, for it creates few jobs or profits that can be taxed to pay people for not working (Universal Basic Income).

Perhaps the most consequential limit to AI is that it will do nothing to reverse humanity’s most pressing problems. It can’t clean up the Great Pacific Trash Gyre, or limit the 450 million tons of mostly unrecycled plastic spewed every year, or reverse climate change, or clean low-Earth orbits of the thousands of high-velocity bits of dangerous detritus, or remake the highly profitable waste is growth Landfill Economy into a sustainable global system, or eliminate all the sources of what I term Anti-Progress. It will simply add new sources of systemic risk, waste and neofeudal exploitation.

*  *  *

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Tyler Durden
Fri, 08/09/2024 – 17:00

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Investors Flooded Into Money-Market Funds & Bank Deposits As Markets Crashed

Investors Flooded Into Money-Market Funds & Bank Deposits As Markets Crashed

Money-market fund assets rose to a fresh record ($6.19TN) as a global selloff in risk assets earlier in the week sent investors flying into cash. About $52.7BN flowed into US money-market funds in the week through Aug. 7, the largest weekly inflows since the period ended April 3 (Tax-Day prep)…

Source: Bloomberg

Also of note this week, demand for a rarely used Federal Reserve facility rose to the highest level in almost a month on Thursday as counterparties tested its accessibility.

Counterparties tapped the Fed’s Standing Repo Facility, or SRF – where eligible banks can borrow reserves in exchange for Treasury and agency debt – for $101 million on Thursday, the most since July 11.

There’s been at least one pop in usage every month since February, which suggests banks are testing their systems, though with minuscule amounts for a facility that at its peak attracted $153 billion in March 2020

Source: Bloomberg

Reserves are closing in on the $3 trillion level Federal Reserve Board member Christopher Waller has touched upon as the lowest comfortable level of reserves, i.e. the level that funding problems could manifest.

The RRP represents a sort of buffer on top of the current level of reserves, as (principally) money market funds can draw down it, adding to reserves in the process.

Source: Bloomberg

As all of that was happening, and yen carry trades unwound, US bank deposits soared on both a seasonally-adjusted (+$90BN) and non-seasonally-adjusted (+$189BN) basis.

That surge pushes SA deposits back above pre-SVB levels for the first time…

Source: Bloomberg

The NSA rise is the largest since May 2023 and the SA rise in deposits is the largest since the end of April 2024.

Excluding foreign flows, US domestic deposits spiked dramatically: +$77BN SA (large banks +$75BN, small banks +$2BN)…, +$179BN NSA (large banks +$149BN, small banks +$30BN)…

Source: Bloomberg

On the other side of the ledge, loan volumes soared by their most since the start of the year with large bank loan volumes rising $16.8BN and small bank loan volumes up $2.7BN…

Source: Bloomberg

Finally, we note that as reserves fade, US equity market capitalization has begun to catch down to that long-tight-correlation…

Source: Bloomberg

The question is – how long will The Fed allow this to drop before juicing reserves once again?

Tyler Durden
Fri, 08/09/2024 – 16:40

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Harris/Walz Are “Levitating In Fake Polls On Gusts Of Idiot Wind”

Harris/Walz Are “Levitating In Fake Polls On Gusts Of Idiot Wind”

Authored by James Howard Kunstler via Kunstler.com,

“Who Elected YOU Boss of This Outfit?”

“There’s some perversion that’s happened in our country in the last several years.”

– Candidate Kamala Harris

You might well wonder: how does the Democratic Party rank and file sustain such fervor for the wrecking crew of Harris & Walz conjured up with zero input from the Party’s demos? Just plopped onstage as by the old MGM studio heads casting a pair of iffy contract players in a “B” movie musical called Our Pronouns Are Cash and Carry.

So far, Harris and Walz levitate in fake polls on gusts of idiot wind from the Party’s unofficial public relations team of the The New York Times / MSNBC / CNN / NPR media matrix. But it’s already obvious that Veep Kamala Harris’ brain is just a laugh generator triggered by anything that sounds like an idea from the material world: the economy? Hee-haw. . . Ukraine? Bwa-ha-ha-ha-ha. . . The border? Tee-hee. . . Transitioning minor children?  Yuk-yuk-yukity-yuk. . . The Middle East? Cackle cackle. . . .

You are well aware, I’m sure, that the veep has yet to be exposed to a single unscripted interchange with anyone outside her promotional circle. It’s been kind of neat trick to behold, like watching a barking terrier walk around the stage on its hind legs — but after a while the audience might be thinking, What else can you show me?

You must not suppose this liminal moment in history between the defenestration of “Joe Biden” and the apparent selection of Harris &  Walz is anything but a transient psychotic episode in American politics. The tell is that nobody in the Dem fold is inquiring as to how it happened, and especially who is behind it. Has the Dem Party become just Speaker emeritus Nancy Pelosi’s personal mafia? It appears that she was the one who delivered the black spot to “JB.” Do Chuck Schumer and Hakim Jefferies even matter in that supposed hierarchy, or is Mrs. Pelosi sole proprietor of the org now?

There must be a few unfettered souls among the Dem delegates who detect that, without the smoke and mirrors of the media matrix, Harris & Walz can’t possibly make the case for getting elected honestly. And the odds of successfully rigging another national election seem to be on-the-fade, too, with such obvious pranks as registering 371 illegal aliens (non-citizens) to vote using an address that turns out to be a Walmart parking lot. Yesterday, Governor Glen Youngkin of Virginia signed an excutive order requiring paper ballots and voter ID along with other new regs. Is a trend underway among the states to clean up their acts?

The so far railroaded national Dem delegates have ten more days to watch the Harris / Walz tag-team get vivisected on “X”, which, like it or not, has become the sole open conduit for news and commentary in a nation ruled by a psychopathocracy. You can say that because the policies they promote are obviously inimical to our country’s well being — open borders, harrassment, arrest and censorship of political opponents, the pointless Ukraine war, sexual mutilation of children, mass digital surveillance, medical quakery, and a policy of lying about absolutely all of it. Many still recognize insanity when they see it in action. These matters are not defensible and, deep down, they must know it, and maybe enough of the delegates will decide to do something about it — like revolt against the candidates foisted on them.

One possible result, of course, is that such a revolt will rip the party to shreds. You can easily imagine chaos in the streets of Chicago among the disaffected delegates and the Antifa shock troops called forth to punish them. Chaos for its own sake is highly valued by so-called “progressives” looking to progressively destroy the entire armature of civilized life in order to create out of the ashes a nirvana of sadomasochistic persecution and punishment — their Hieronymus Bosch Wokester utopia.

I’m guessing that there will be untoward discoveries about, and mortifying blunders galore by, Harris & Walz these ten days ahead, and they will go into the Chicago convention like two pitiful creatures marked for sacrifice. Gawd knows what will emerge from the turbulence that ensues — but I’m still dogged by the feeling that the only plausible outcome is a giant flying reptile with a face like Hillary’s swooping into the arena on her great, flapping, leathery wings crying, Caw caw caw, I own you all now, you miserable cat ladies, incels, nose-rings, and sundry victims of hateful offense! Follow me once more into the glorious rapture of defeat! And it shall be done!

*  *  *

Support his blog by visiting Jim’s Patreon Page or Substack

Tyler Durden
Fri, 08/09/2024 – 16:20

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Stocks Erase ‘Black Monday’ Losses As Vol Tumbles; Bond Yields & Black Gold Surge

Stocks Erase ‘Black Monday’ Losses As Vol Tumbles; Bond Yields & Black Gold Surge

If you took the week off and are just now looking at your book, you could be forgiven for being confused and unimpressed… S&P unchanged, rate-cut expectations notably lower, TSY yields up 15bps, and oil surging.

Source: Bloomberg

What you missed was a 6% collapse in stocks (and 20bps plunge in TSY yields) on Monday as yen-carry-unwinds wreaked havoc in risk markets with VIX exploding to crisis highs, before vol-sellers piled back in…

Source: Bloomberg

As Goldman’s Tony Pasquariello highlighted this morning, the wedge of market enthusiasm that opened up the summer has narrowed considerably

Additionally, if you wondered just how correlated global positioning cross-asset was, we found out real quick this week, as the Yen Carry trade dominated all and every asset-class…

Source: Bloomberg

As we mentioned above, the big picture for stocks on the week was ‘meh’ with S&P and Nasdaq back up to unchanged. The Dow a small laggard and Small Caps down for the second week in a row (but obviously well off its lows)…Yes, that is a 6%-ish plunge in Nasdaq and Small Caps on Monday that was erased by the end of the week.

Energy and Tech were among the outperforming sectors (even after Tech’s collapse on Monday) while Materials were the laggard…

Source: Bloomberg

‘Most Shorted’ stocks were squeezed back into the green on the week after Monday’s collapse but remain well down from pre-payrolls…

Source: Bloomberg

Mag7 Stocks rebounded dramatically off the 8%-plus pukefest at the cash open on Monday, but ended the week in the red still…

Source: Bloomberg

Goldman’s trading desk noted that the floor better to buy today though overall activity light in notional terms (volumes -10% vs the trailing 20 days) and top of book (liquidity) continues to be weak compared to average.

  • LOs very quiet with small buy skew across Hcare and macro products, vs selling tech.

  • HFs selling Tech, Industrials, and Cons Discretionary, vs buying Energy + Macro Products.

Treasury yields were up on the week (with the short-end underperforming – 2Y +18bps, 30Y +12bps on the week), but including Friday’s post-payrolls plunge, yields are still down with the short-end outperforming…

Source: Bloomberg

Rate cut expectations tumbled from the initial surge on Monday withe most of the swing in pricing concentrated in 2024…

Source: Bloomberg

The yield curve (2s10s) briefly disinverted on Monday, but was flatter (more inverted) by the end of the week…

Source: Bloomberg

The dollar ended lower on the week as yen strengthened after BoJ folded…

Source: Bloomberg

Gold rebounded yesterday and today, back above $2400 but ended marginally lower on the week…

Source: Bloomberg

Oil prices had a big week, with WTI ripping back from 6-month lows around $72 to $77 by the end of the week (making it back to pre-payrolls levels)…

Source: Bloomberg

Bitcoin also had a wild week only to end approximately unchanged.  Having puked from $62k to $50k, it rebounded all the way back to $62k overnight (before finding support at $60k)…

Source: Bloomberg

Finally, amid the carnage of the last week, money market fund total assets soared to a new record high…

Source: Bloomberg

A huge $53BN inflow (the most since April – Tax Day) suggests ‘real money’ market participants are perhaps more than a little nervous as HFs, vol-sellers, and algos lift the market on thin volumes.

Tyler Durden
Fri, 08/09/2024 – 16:00

via ZeroHedge News https://ift.tt/YEQdKx6 Tyler Durden

CBP Agents Snag Record $48 Million In Meth Hidden Inside Lettuce Shipment At Southern Border

CBP Agents Snag Record $48 Million In Meth Hidden Inside Lettuce Shipment At Southern Border

By Caleb Revill of FreightWaves

U.S. Customs and Border Protection announced several large drug busts this week after field operatives seized a record-breaking 3,400 pounds of methamphetamine on the Southern border and 266 pounds of cocaine on the Northern border – all on the same day.

According to a CBP news release, field operatives seized the methamphetamine – valued at $48 million – from a tractor trailer at the Pharr International Bridge cargo facility on the Texas-Mexico border on Aug. 1. The release states that this seizure is the largest ever in the port of entry’s history.

CBP officers assigned to the facility encountered a tractor trailer entering from Mexico and selected it for inspection. After using nonintrusive inspection equipment and physically inspecting the shipment, officers found 1,488 packages of alleged methamphetamine concealed in the shipment of lettuce.

Customs and Border Protection officers found 1,488 packages of alleged methamphetamine in a shipment of lettuce from Mexico, as well as 100 bricks of cocaine hidden on an outbound tractor trailer to Canada on Aug. 1. (Photo: CBP and Jim Allen/FreightWaves

Officers seized the narcotics and vehicle. Homeland Security Investigations special agents have initiated a criminal investigation, according to the release.

“Our CBP officers remain vigilant and intercepted this massive methamphetamine load, preventing it from reaching American streets,” said Carlos Rodriguez, port director of the Hidalgo/Pharr/Anzalduas Port of Entry, in the release.

The same day, CBP officers at the Blue Water Bridge port of entry near Port Huron, Michigan,  seized 266 pounds of cocaine from a tractor trailer leaving the U.S. for Canada. According to another news release from CBP, an X-ray scan of the trailer and subsequent physical inspection conducted by officers and a K-9 team revealed 100 bricks of suspected narcotics concealed behind a fake wall in the trailer.

The illicit drugs were confirmed to be cocaine through later testing, and they were seized along with the truck and trailer. The driver, a Canadian citizen, will face local prosecution in St. Clair County, according to the release. The case remains under investigation by Homeland Security Investigations.

“We will continue to use all tools at our disposal to disrupt the flow of dangerous drugs into our communities,” said Port Director Jeffrey Wilson. “This seizure showcases the effectiveness of our layered approach to border enforcement, which is further enhanced by the assistance of our regional law enforcement partners.”

The release states that this discovery comes on the heels of one of the largest inbound fentanyl seizures on the Northern border within the past five years in Detroit. Nearly 6 pounds of fentanyl pills were seized by CBP officers from inbound international mail during that incident on June 2.

Tyler Durden
Fri, 08/09/2024 – 15:45

via ZeroHedge News https://ift.tt/SfK7Do0 Tyler Durden

Virginia Mandates Paper Ballots, Tracking, And Proof Of Residency For 2024 Election

Virginia Mandates Paper Ballots, Tracking, And Proof Of Residency For 2024 Election

Virginia Governor Glenn Youngkin (R) on Wednesday signed an executive order to implement various security measures ahead of the November election – including the use of paper ballots, tracking possession of ballots during early voting, matching the number of ballots casts with then number of voters who have checked in, and the number of ballots sent to voters.

The order also requires absentee ballots to be requested before being mailed to voters, in addition to rejecting ballots mailed back unless the voter provides the last four digits of their Social Security number and birth year.

The state notably uses paper ballot counting machines that aren’t connected to the internet and are tested before elections.

Meanwhile, Youngkin also ordered the state to update its voter rolls – including adding or removing people based on whether they are allowed to vote in the state, removing those unable to prove residency, removing the names of dead voters, and ensuring illegals cannot cast a ballot.

According to Virginia AG Jason Miyares, 6,303 illegals have been removed from the state’s voter rolls during Youngkin’s tenure, and almost 80,000 deceased voters have been removed.

As the Epoch Times notes further, Youngkin instructed the Department of Motor Vehicles to “expedite the interagency data sharing with the Department of Elections of noncitizens by generating a daily file of all noncitizens transactions, including addresses and document numbers.”

The Department of Elections compares a list of noncitizens with a list of those registered to vote. Those who are on both lists get removed from voter rolls. If someone is erroneously removed, he or she has 14 days to prove eligibility to cast a ballot.

Additionally, Virginia has cameras monitoring drop box locations 24/7.

Moreover, according to the executive order, the Department of Elections is to inform voters about prohibited activities including, but not limited to, electoral intimidation, illegally disclosing or using Social Security numbers, unlawful registrations and votes, and tampering with or stealing voting items.

There have been almost two dozen cases of election fraud cases in Virginia since 2007, according to the Heritage Foundation, a conservative think tank in Washington.

Election Integrity

In a statement, Youngkin said that the issue of election integrity isn’t partisan and that elections should be held fairly.

This isn’t a Democrat or Republican issue, it’s an American and Virginian issue,” he said. “Every legal vote deserves to be counted without being watered down by illegal votes or inaccurate machines. In Virginia, we don’t play games and our model for election security is working.”

While Youngkin and the GOP flipped the gubernatorial mansion and the House of Delegates in November 2021, Democrats have controlled both houses of the state Legislature since earlier this year.

Polling has showed that former President Donald Trump is competitive in the Old Dominion State. More recent polls, after President Joe Biden dropped out and Vice President Kamala Harris received the nomination, have shown a tighter race.

The last time a GOP presidential candidate won Virginia was in 2004, when President George W. Bush won reelection.

In addition to the presidential race, other major races in Virginia in November include the Senate race between incumbent Sen. Tim Kaine (D-Va.) and Republican Hung Cao and key House races in the state’s Second, Seventh, and 10th congressional districts.

The next Virginia gubernatorial election will be held in November 2025. Youngkin is ineligible to run for a second consecutive term in accordance with the state’s constitution. Rep. Abigail Spanberger (D-Va.), who isn’t running for reelection, is seen as the early front-runner for the governor’s mansion.

Tyler Durden
Fri, 08/09/2024 – 15:05

via ZeroHedge News https://ift.tt/BTxthj8 Tyler Durden