Clashing Over Saylor, Strategy, And Bitcoin’s Biggest Risks

Clashing Over Saylor, Strategy, And Bitcoin’s Biggest Risks

Submitted by QTR’s Fringe Finance

Sometimes the best conversations happen after an argument.

That’s exactly what unfolded this week when I sat down with fund manager Larry Lepard for a discussion that almost never happened. After disagreeing earlier in the week over my criticism of Michael Saylor, Strategy, and the company’s evolving Bitcoin strategy, we decided to hash it out publicly in a podcast/debate. Stupid thing to get in the way of a friendship, right?

The result wasn’t a shouting match. It was a substantive debate between two people who actually agree on more than they disagree. We both remain skeptical of today’s euphoric markets. We both think most of crypto outside of Bitcoin is likely worthless. And we both believe Bitcoin deserves to be taken seriously as a macro asset.

Where we disagree is on Strategy. My argument was never that the company is headed for an imminent collapse. In fact, I acknowledged that its new Bitcoin monetization framework, dedicated cash reserves, and more disciplined capital allocation likely buy the company significant time while improving financial flexibility.

My concern is with management credibility. Earlier this year Michael Saylor insisted Strategy would not become a Bitcoin seller. Today, the company has sold Bitcoin as part of its capital management strategy while shifting its messaging toward liquidity and balance sheet flexibility. I also questioned why “Bitcoin Yield,” once heavily promoted by both Saylor and CEO Phong Le, has largely disappeared from public messaging now that the metric has become less favorable. To me, consistency matters, especially when investors are being asked to trust management.

Larry’s response was that I’m confusing adaptation with deception. He argued management simply adjusted after learning where the market’s tolerance for leverage actually sits. Rather than signaling distress, he believes the company’s new emphasis on liquidity strengthens the business and reassures investors that dividend obligations remain easily manageable.

His broader point was that the balance sheet simply doesn’t support the bearish narrative. With roughly $6 billion of debt against tens of billions of dollars in Bitcoin holdings, Larry believes Strategy remains well insulated, even if Bitcoin suffers another major drawdown.

I pushed back by arguing that the entire bull case rests on assumptions continuing to hold. Bitcoin has never existed alongside equity markets this expensive, nor has there ever been a corporate treasury vehicle as large as Strategy simultaneously serving as one of the market’s biggest buyers while now acknowledging it can also become a seller.

Leverage changes the equation. Every preferred issue, dividend obligation, and financing decision adds another layer that depends on Bitcoin continuing to appreciate over time. If Bitcoin performs as expected, those obligations remain manageable. If it doesn’t, they become increasingly important.

Larry countered that I was overly focused on downside scenarios while overlooking Bitcoin’s asymmetric upside. He pointed to prior drawdowns, increasing institutional adoption, ETF ownership, and long-term network growth as evidence that Bitcoin continues following the same path it always has.

One place we found plenty of common ground was on crypto more broadly. Larry argued most of the crypto ecosystem is ultimately worthless while Bitcoin increasingly resembles digital gold. I largely agreed, though I noted that a collapse elsewhere in crypto could still create broader risk-off pressure that spills over into Bitcoin and highly levered companies like Strategy.

The biggest takeaway wasn’t who won the debate. It was that markets need more conversations like this. Healthy skepticism shouldn’t automatically be confused with pessimism, and pointing out risks isn’t the same as predicting disaster.

Larry remains convinced Strategy is one of the market’s best long-term opportunities.I remain convinced that management credibility, leverage, and changing narratives deserve scrutiny. Reasonable people can disagree. That’s exactly what made the conversation worth having.

Now you can watch the full debate 100% free and decide for yourself.

(WATCH THE FULL DEBATE, 100% FREE, HERE). 

QTR’s Disclaimer: Please read my full legal disclaimer on my About page hereThis post represents my opinions only. In addition, please understand I am an idiot and often get things wrong and lose money. I may own or transact in any names mentioned in this piece at any time without warning. Contributor posts and aggregated posts have been hand selected by me, have not been fact checked and are the opinions of their authors. They are either submitted to QTR by their author, reprinted under a Creative Commons license with my best effort to uphold what the license asks, or with the permission of the author.

This is not a recommendation to buy or sell any stocks or securities, just my opinions. I often lose money on positions I trade/invest in. I may add any name mentioned in this article and sell any name mentioned in this piece at any time, without further warning. None of this is a solicitation to buy or sell securities. I may or may not own names I write about and are watching. Sometimes I’m bullish without owning things, sometimes I’m bearish and do own things. Just assume my positions could be exactly the opposite of what you think they are just in case. If I’m long I could quickly be short and vice versa. I won’t update my positions.

As of May 20, 2026 I personally no longer actively trade (read my story here). My investing/saving is done by recurring contributions mostly to sector ETFs and a few select equities, trusted third parties who oversee my accounts, and advisors. Such advisors or funds, through individual equities, options, index funds, mutual funds, ETFs, or other securities, may have positions in, exposure to, or holdings of names mentioned herein that I know nothing about. Basically, via index funds, ETFs and individual equities it is possible I could own, have exposure to, or not own anything at any point. As of the same date, May 20, 2026, in an attempt to lead a healthier lifestyle, I’ve also excluded myself from fantasy sports, sports betting, online and in-person casinos and prediction markets.

And all positions can change immediately as soon as I publish this, with or without notice and at any point I can be long, short or neutral on any position. You are on your own. Do not make decisions based on my blog. I exist on the fringe. If you see numbers and calculations of any sort, assume they are wrong and double check them. I failed Algebra in 8th grade and topped off my high school math accolades by getting a D- in remedial Calculus my senior year, before becoming an English major in college so I could bullshit my way through things easier.

The publisher does not guarantee the accuracy or completeness of the information provided in this page. These are not the opinions of any of my employers, partners, or associates. I did my best to be honest about my disclosures but can’t guarantee I am right; I write these posts after a couple beers sometimes. I edit after my posts are published because I’m impatient and lazy, so if you see a typo, check back in a half hour. Also, I just straight up get shit wrong a lot. I mention it twice because it’s that important.

Tyler Durden
Sun, 07/12/2026 – 14:00

via ZeroHedge News https://ift.tt/STe2iOW Tyler Durden

Is Title IX Holding Back U.S. Men’s International Soccer?


USMNT and Title IX

In the wake of the World Cup soccer defeat of the U.S. Men’s National Team (USMNT), analysts have  been wondering what the U.S. can do better to improve its talent in international competitions. In the 4-1 defeat to Belgium, it seemed apparent that other countries (often European countries) have done a better job of developing a talent pipeline for men’s soccer than the U.S. Why hasn’t the U.S. developed better men’s talent?

As an avid fan of the U.S. men’s (and women’s) national soccer teams, I have been following the debate closely. Commonly identified culprits include: America’s “pay to play” system of youth soccer, diversion of some of America’s best athletes to other sports, and the alleged lack of a true American soccer “culture.”

But on Friday, Scott Yenor of the Heritage Foundation tried to add a new suspect to the list. He offered his view that America’s Title IX regime was “a factor behind the underperformance of U.S. men’s soccer on the international stage.” I’m not sure whether his article was intended to manly to provoke. But the article is so disassociated from the current realities surrounding soccer talent development that a brief response may be warranted.

As Yenor tells the tale, Title IX’s prohibition of sex-based discrimination in college sports programs has created “perverse incentives.” According to Yenor, Title IX forces universities with (American) football teams to balance things out by padding the rosters of their women’s teams in other sports—and, in some cases, cutting men’s soccer teams. Yenor displays statistics showing that soccer participation by sex in National Collegiate Athletic Association (NCAA) Division I programs has changed over time, so that women now outnumber men.

According to Yenor, these statistics show that, while “America’s women’s soccer has a world-class pipeline … Title IX prevents men’s soccer from building one.” Yenor provocatively concludes that “[o]nly when America drops its sports sex-quota system will the American men stop being humiliated by Belgium.”

In my view, Yenor’s argument betrays a lack of any real understanding of how talent pipelines of men in international soccer work. Because he does not seriously engage with the real debate over how to improve the USMNT, his policy recommendation misses the mark.

Starting with his graph, his timeline shows little connection to the World Cup performances by America’s men’s (and women’s) national teams. Title IX became effective in the mid-1970s. The men’s team did not qualify to participate in any World Cups for many years both before and after. Focusing on the modern era, the U.S. men did not qualify to play between 1954 and 1986. The U.S. men did qualify in 1990—more than a decade after Title IX went into effect—and reached the Round of 16 at the next opportunity, in 1994. In 2002, the USMNT reached the quarterfinals.  In its last four appearances—in 2010, 2014, 2022, and 2026—the men played consistently, reached the Round of 16 each time … but progressed no further.

To be sure, Title IX’s enactment no doubt helped propel the U.S. women to success. They won the first women’s World Cup in 1991. They were also champions in 1999, 2015, and 2019. But in its most recent appearance, in 2023, the U.S. Women’s National Team (USWNT) disappointingly only reached the Round of 16. This trendline—consistent, long-standing success followed by a sharp drop in the most recent tournament—bears little relation to the escalating college participation over decades by women that Yenor depicts.

The core problem with Yenor’s argument is its focus on the very backend of the talent pipeline—players entering college soccer programs. But as has been widely discussed—both before and after the USMNT’s defeat against Belgium—developing international-level talent requires starting much earlier than college. The Athletic has a good summary of the discussion. It quotes Marije Elferink-Gemser (a Dutch professor who studies sports and talent development). She explains that, in soccer, “the ball-handling skills are so difficult that you really need to do it from a young age on.” It appears that “golden age” for developing skill acquisition is the first six years of a child’s life, although some might argue that the age extends all the way to age twelve.

After a child learns basic ball handling skills, the next step in the process is intensive training in soccer skills—again, well before a boy (or girl) enters college. As is commonly discussed in the soccer talent debate, many European (and other) countries have soccer “academies,” where budding stars begin training as youn as age nine. As an example, consider perhaps the best player in the world: France’s Kylian Mbappé. Mbappé began training with his local club at age six. Then he moved to the French national football academy—Clairefontaine—where his impressive performances led to many professional European teams trying to sign him. At age 14, Mbappé joined the youth academy of the French soccer power, Monaco. By age 16, he became a first-team player for Monaco. At age 18, he completed a move to France’s best professional club team (Paris Saint-Germain) for a price of €180 million. Ever since he has been an internationally recognized star.

To develop top-tier, international-level talent, the U.S. is going to need to replicate this kind of intensive professional training at a young age for some of its elite, budding soccer players. From a talent-pipeline perspective, it makes no sense to debate whether changes in Title IX might slightly upgrade the men’s soccer programs at the University of Texas or University of Florida (examples cited by Yenor, where only university club teams exist). There are already more than 6,000 men’s soccer players playing in NCAA Division I. A few more players at the end of the bench in college soccer isn’t going to change America’s international standing.

And, of course, Yenor is assuming that changing Title IX to add additional scholarships at U.S. universities will result in more American players; but many scholarship athletes come from other countries. As one example, consider the 2024 NCAA Division I men’s final between Vermont and Marshall. According to one tabulation, 73% of the starters were international players from countries such as Germany, Japan, and Brazil; Marshall’s squad of 28 players contained only three who were American.

The declining importance of college participation to the USMNT is easy to see by looking at U.S. World Cup rosters. To be sure, college soccer was once the central pipeline for the U.S. men’s national team: every player on the 1990 World Cup roster appears to have played U.S. college soccer, and roughly three-quarters of the 1994 and 2002 rosters did. But by the modern era, that share had fallen sharply. In the last two World Cups, it appears that only about 8 of the 26 players had done so—and only a few of them were starters. Of the USMNT starters on the field against Belgium this month, only goalkeeper Matt Freese (Harvard) and 38-year-old defender Tim Ream (Saint Louis) appear to have been former NCAA soccer players.

The trend towards fewer ex-college players is attributable to several factors that have nothing to do with Title IX regulations on NCAA scholarships. One of the most important factors is the rise of Major League Soccer (MLS) academies in the U.S., designed to compete with the well-developed European soccer academies. More than two dozen U.S.-based MLS teams exist. All teams have strong academies designed to develop local talent, either to supplement their rosters or to generate income by selling these players in the international transfer market.

The next generation of U.S. talent may well come from these academies. The Athletic already has an interesting projection of which new players are most likely to make the 2030 World Cup roster of the USMNT. Assuming that 14 current players return, it is then possible to project an additional 16 new arrivals, broken into the categories of “just missed” (#15-20) and “next generation” (#21-30), with ages and current club affiliation listed:

Just Missed in 2026

15. Noahkai Banks (19) — FC Augsburg
16. Johnny Cardoso (24) — Atlético de Madrid
17. Tanner Tessmann (24) — Olympique Lyon
18. Aidan Morris (24) — Middlesbrough FC
19. Patrick Agyemang (25) — Derby County
20. Diego Luna (22) — Real Salt Lake

Next Generation in 2030

21. Zavier Gozo (19) — Real Salt Lake
22. Cavan Sullivan (16) — Philadelphia Union
23. Adri Mehmeti (17) — New York Red Bulls
24. Julian Hall (18) — New York Red Bulls
25. Peyton Miller (18) — New England Revolution
26. Mathis Albert (17) — Borussia Dortmund
27. Rokas Pukstas (21) — HNK Hajduk Split
28. Julian Eyestone (20) — Brentford
29. Diego Kochen (20) — Lyngby Boldklub, on loan from FC Barcelona
30. Josh Wynder (21) — SL Benfica (B team)

Of this list of sixteen potential players, only three appear to have previously played college soccer (or seem likely to do so in the future): Aidan Morris, Patrick Agyemang, Julian Eyestone. Notably, two of these three also went to an MLS academy (Morris, who spent three pre-college years at the Columbus Crew academy; and Eyestone, who joined the FC Dallas academy at around age 10). And only one of the three — Agyemang, the oldest player on the list — played four years of college soccer. Morris played one fall season at Indiana, before leaving to sign with the Columbus Crew; Eyestone played one fall season at Duke, before signing with Brentford in England. By my count, eleven of the sixteen went to MLS academies and several of the others went to foreign academies (Banks at FC Augsburg, Cardoso at Brazilian academies, and Kochen at Barcelona’s famous La Masia academy) and Josh Wynder went to a Louisville City/USL academy (the second-tier league below MLS).

Part of the reason that U.S. men’s players (such as Morris and Eyestone) want to leave NCAA soccer programs quickly is that the NCAA requires that athletes be students first, and soccer players second. Generally speaking, the NCAA rules cap the amount of “countable athletically related activities.” During the playing season, the standard Division I limit is 4 hours per day and 20 hours per week, with required days off. And the season lasts only a few months of the year.

There are occasional NCAA exceptions allowing more training for Olympic-level athletes. But the last thing that American soccer would want to encourage is its top athletes going into NCAA-regulated college soccer programs. For an elite soccer talent, the NCAA rules are major constraints. A professional environment can offer, well, professionalism: such things as daily training throughout the year, individualized technical work, strength and conditioning, recovery, nutrition, film study, reserve-team matches, and first-team integration. The NCAA season is compressed in a fall window of about three months, with some stretches of three games in eight days—a bad program for training. There are other problems as well. But the general point is that as fewer elite American men go into college soccer programs, that likely improves our talent pool by putting them in more competitive and professional environments.

An excellent scholarly analysis of the rise in non-college pathways to the USMNT comes from Samford University’s Center for Sports Analytics. In a report published this May, the Center presciently predicted something like the USMNT’s round-of-16 exit in July. The report’s title is “The 2026 USMNT Is the Best American Soccer Team in History. It Still Isn’t Good Enough.” The report carefully explains, comparing the 1994 and 2026 USMNTs, far fewer of today’s players are arriving from college soccer. Instead, four additional pathways, apart from the historical college path, exist to arrive at the USMNT: (1) the Youth Export, (2) the MLS-Academy-to-Foreign-League; (3) the MLS “Lifer”; and (4) the  Foreign-Raised Dual-National.

And, interestingly, the report notes that the “further up the pitch [i.e., field] you go on the 2026 USMNT, the more European the system that produced the player becomes.” The report explains that, currently, even the MLS does not produce America’s match-deciding players. European clubs do … and American teenagers are now competing for academy spots at those clubs alongside the world’s best young players. The report also impressively presents detailed analytics, showing that the key metric for predicting how a national soccer team will perform at the World Cup is total playing time for a country’s nationals in the five elite European soccer leagues over the just-completed season. By that metric, the U.S. currently sits just outside the top eight teams (in tenth position)—exactly where the team finished in this year’s World Cup.

So on the men’s side, the college pipeline has little relevance to World Cup performance. But what about the women’s side? Yenor also argues that, compared to the U.S. men, the U.S. women have built a “world-class pipeline” through college soccer. To be sure, Title IX’s enactment in the 1970s helped to propel the U.S. women’s team to the top. The timing gave American women’s soccer a jump start ahead of other countries.

But here again, Yenor’s chart (reproduced above) bears little connection to that jump start. The chart shows increasing women’s participation in NCAA Division I over the last several decades. But the development of players for the USWNT has always been heavily concentrated in a handful of elite college programs. The fact that (for example) such schools as Mercyhurst University, Lindenwood University, and others have recently added Division I women’s soccer programs is disconnected from the national team program.

NCAA development of international-level women’s soccer players has always been heavily concentrated in the most competitive schools. The prime example is UNC, where the amazing Tarheels women’s program won 16 of the first 19 national titles. More recently, schools like Stanford, Santa Clara, Penn State, Notre Dame, and a few others have been involved. But increasingly USWNT players are turning pro and never playing college soccer.

The trend of avoiding NCAA soccer is due to a recent change in the legal environment that now allows strong American girls to turn professional at a young age. Olivia Moultrie was the trailblazer here. Moultrie started playing soccer when she was four years old. By fifth grade, she was homeschooled so that she could focus on soccer and became the first girl on a boys’ club team to play in the U.S. Soccer Development Academy system. At 11, she accepted a full scholarship offer to play soccer for the UNC Tar Heels when she reached college age, becoming the youngest female soccer player to publicly accept a college offer at the time. Shortly thereafter, she traveled to Europe to train. When she was 13, she began training with the Portland Thorns (of the National Women’s Soccer League or “NWSL”).

In 2021, when she was 15, Moultrie filed an antitrust lawsuit against the NWSL in district court in Oregon. She alleged that the NWSL, as the “only acquirer of talent in the [professional] market,” violated the Sherman Antitrust Act with its age-requirement that players be 18 years old. Her lawsuit asked for a temporary restraining order against the age rule so that she could play during the 2021 pro season. U.S. District Judge Karin Immergut granted a temporary restraining order and preliminary injunction, ordering the league to lift its age limit and allow Moultrie to compete for a roster spot on the Thorns. Moultrie became the youngest player in NWSL history to score a goal and appear in a NWSL championship game.

Unsurprisingly, Moultrie has also featured for the USWNT, where she has made a total of 18 appearances, including 7 during 2026. And Moultrie is hardly alone in taking this professional path. Recently, many of America’s brightest young USWNT stars have skipped college. Consider what a projected “starting eleven” lineup for the U.S. women’s team might look like next year in the 2027 Women’s World Cup in Brazil, arranged from oldest to youngest player, with any college experience noted:

  1. Emily Fox (28 years old) — North Carolina, 2017-2020.
  2. Mallory Swanson/Pugh (28) — Enrolled at UCLA but left before playing an official NCAA season; no NCAA soccer.
  3. Phallon Tullis-Joyce (27) — Univ. of Miami, 2014-18.
  4. Tierna Davidson (27) — Stanford, 2016-2018.
  5. Naomi Girma (26)— Stanford, 2018-2021.
  6. Sophia Wilson/Smith (25) —Stanford, 2018-2019; only two NCAA seasons.
  7. Trinity Rodman (24) — Turned pro directly; no NCAA soccer.
  8. Jaedyn Shaw (21) — Turned pro at 17 rather than playing college soccer; no NCAA soccer.
  9. Gisele Thompson (20) — Signed directly with Angel City rather than playing at Stanford; no NCAA soccer.
  10. Olivia Moultrie (20) — Turned pro with Portland; NWSL debut at 15;  no NCAA soccer.
  11. Lily Yohannes (19) — Ajax/Lyon pro pathway; no NCAA soccer.

Of the eleven players on this list, only five played NCAA soccer, and only four played for the full four years. And the difference between the older players and younger players is stark: Of the five youngest players on the possible projected starter list (such as Moultrie), none played NCAA soccer.

As with the men’s team, recent scholarly research about the women’s team highlights the importance of these non-college pathways to the USWNT. And given the rising strength of women’s soccer teams in other countries—apparently fueled by professional training opportunities at professional clubs—the need for these non-college pathways is increasing. The U.S. women exited the last World Cup in 2023 earlier than ever before—in the Round of 16. A new generation of professionally trained players is needed to return America to the top.

As the recent pathways for top players joining both the U.S. men’s and women’s national teams demonstrate, NCAA college soccer is fading into obscurity as part of the international talent pipeline. There may be arguments for modifying some of Title IX’s rules to expand athletic opportunities for men in soccer or other sports. (I take no position on that issue here.) But the claim that changing Title IX’s rules could have any meaningful benefit for the American men’s international soccer team is but a provocative diversion from the real issues. To beat the best professionals, the top U.S. men—and women—need to follow the most professional paths.

***

Note: In the interests of brevity, in this post I have referred to the “World Cup” and “Women’s World Cup,” because those are the official names of the competitions as given by FIFA. I acknowledge that using the sex modifier for the women’s game but not the men’s might be viewed as relegating the women’s game to second-class status. But, at this time, this linguistic approach appears to be conventional.

Update: I’ve corrected an embarrassing mistake on my list of projected 2027 USWNT starters, swapping in goalkeeper Phallon Tullis-Joyce. Thanks to David Nieporent for catching my embarrassing roster projection error. That correction means that five of the projected starters for the USWNT in 2027 played NCAA Division I soccer.

The post Is Title IX Holding Back U.S. Men's International Soccer? appeared first on Reason.com.

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“The Same Monstrous Theme… Collectivism”

“The Same Monstrous Theme… Collectivism”

Authored by The Federalist Papers Project (@TheFederalist1) via X,

Ayn Rand was right when she wrote these words, and she is still right now.

“Fascism, Nazism, Communism and Socialism are only superficial variations of the same monstrous theme: collectivism.”

That is the part too many people refuse to understand.

These systems may use different slogans.

They may wave different flags. They may promise different futures.

One may speak in the language of nationalism, another in the language of equality, another in the language of compassion, another in the language of revolution.

But underneath the branding, the heart of the thing is the same.

The individual is pushed aside. The family is weakened. Faith is mocked or controlled.

Property becomes conditional. Speech becomes dangerous. And the State becomes the final authority over your life.

That is collectivism.

It always starts with beautiful promises. Free this, fair that, justice for all, power to the people. But somehow, every time, the people end up with less power and the rulers end up with more.

Why anyone would want this in America is beyond my understanding.

The only explanation that makes sense is that generations have been trained not to recognize the pattern. They were taught to hate capitalism, distrust liberty, and look to government as the answer to every problem. That did not happen by accident.

A free people cannot stay free if they forget what freedom is.

That is why this warning matters.

Rand was not saying these systems are identical in every historical detail. She was saying they all lead back to the same ugly principle, the group over the person, the State over the citizen, the collective over the individual soul.

Different heads.

Same beast.

And once that beast gets inside a nation, it does not leave quietly.

Tyler Durden
Sun, 07/12/2026 – 12:50

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

Mexican President Seeking Legal Action Against The US Over Deaths Of Alien Migrants

Mexican President Seeking Legal Action Against The US Over Deaths Of Alien Migrants

Should foreign governments be allowed to support or fund lawsuits against the US government over its immigration and enforcement policies?  US sovereign immunity aside, the very idea of foreigners trying to influence American immigration law through indirect civil suits sounds insane.  Why, oh why, should Americans care what Mexico thinks?

To put the issue in context, it’s important to understand that the Mexican government has been actively encouraging and enabling mass illegal immigration into the US for decades.  This strategy accomplishes a few things simultaneously:

First, the southern border acts as a steam valve for poverty stricken malcontents and criminals.  Mexican leaders like to have the option of leaving the door open to citizens crossing illegally into the US en masse because this means less mouths to feed, less strain on social services and less crime for Mexico. 

Second, the Mexican economy relies heavily on foreign remittances.  Illegals from Mexico enter the US, work under the table, then wire around $64 billion back home every year.  Mexico’s annual federal welfare programs cost only $57 billion per year.  In other words, remittances from migrants in the US are bigger than Mexico’s entire welfare budget.

It has become increasingly clear since Donald Trump took office in 2025 that far too many third-world countries are using the US as a cash cow for their own national economies.  And, they have been doing this primarily through illegal immigration, or, work visa and refugee loopholes.  Without Trump’s migrant crackdown, this problem may have never been exposed to the wider public. 

Third, mass immigration acts as a destabilizing element in US politics and economics.  There are many socialist elements within Mexico, not to mention Central and South America, who would like to quietly sabotage the US to make way for “La Raza” – An ideological movement of Hispanic activists that wants to invade and reconquer North America. 

They aren’t satisfied with simply bleeding the US for a trickle of wealth.  Rather, like any group of barbarians at the gate, they want to pillage the entire country because they live under the delusion that they’re “owed” something.  This agenda, of course, relies heavily on progressive politicians staying in power in the US, which is not currently the case. 

Claudia Sheinbaum said on Thursday that her government plans to file criminal complaints in the U.S. regarding ​Mexican citizens who have died in immigration custody or while being targeted in anti-immigration ‌operations. The goal is to escalate these complaints while supporting civil suits. Fourteen Mexican nationals have died while in the custody of U.S. Immigration and Customs Enforcement, and three more died in arrest operations conducted by the agency, the Mexican government said.

The latest incident in Houston involved an arrest which was disrupted by a Mexican migrant who was not the original target of the operation.  Agents report that the man tried to ram them with his van while they were looking for a different suspect.    

Lorenzo Araujo, a Mexican immigrant who had lived in the United States without authorization for 35 years, was on his way to work with three other men.  When agents tried to stop the vehicle, the encounter quickly escalated when he allegedly tried to run them over.  An agent shot Mr. Araujo in the abdomen. He died at a hospital hours later.  Suspects generally only end up dead when they present a physical threat to ICE agents.   

Mexico’s president intends to exploit these events as a way to rally lawfare operations.  She seems to believe that she can leverage against deportation policies by burying the Trump Administration in litigation.  She’s not alone.  Democrats are also using similar tactics while ignoring the circumstances of the shootings and the self defense of immigration agents. 

When it comes to deportations, illegal immigrants do not have the same constitutional protections as American citizens.  Due process for migrants only involves identifying them as legal or illegal.  If they are illegal, then they can and should be kicked out of the country with haste.  No trial.  No jury.  No wasted time or wasted taxpayer money.

It makes no sense that Democrats under the Biden Administration can open the borders to millions of illegals without any legal checks and balances, then they demand that the Trump Administration pursue years of court cases to remove just a handful.

Meanwhile, it’s obvious that Mexico’s government has every reason to subvert the deportation process.  By labeling it a “human rights violation” and creating a legal fog, the Mexicans, like the Democrats, are hoping they can stall the accelerating deportations so that their economy can continue to benefit from the parasitic relationship they have with the US. 

Mexico’s only goal is to create as many obstacles as possible with the expectation that Democrats will eventually return to power and open the floodgates once again.  

Tyler Durden
Sun, 07/12/2026 – 12:15

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

‘Witness List Expanding…’: A Seth Rich Scenario

‘Witness List Expanding…’: A Seth Rich Scenario

Authored by James Howard Kunstler,

“Witness list expanding in multi-conspiracy probe out of Fort Pierce. . . .”

– Paul Sperry, Real Clear investigations.

The scene: February of 2027, a federal courtroom in Fort Pierce (St. Lucie County), Florida, the third day of trial in the RussiaGate matter.

Defendants seated on the right (from the judge’s vantage) are so numerous they require two tables, including John Brennan, James Comey, James Clapper, Andrew McCabe, Rod Rosenstein, Strzok & Page, Bruce Ohr, Lisa Monaco, Mary McCord, Christopher Wray, Marc Elias, and seven other former federal officials.

Former President Barack Obama and former Sec’y of State Hillary Clinton, named as “unindicted co-conspirators,” are not present in the courtroom for the sake of decorum. Former MI6 agent, the slippery Christopher Steele, purveyor of the infamous “dossier,” is on-the-lam, whereabouts unknown. The charges against the bunch are Seditious Conspiracy (18 U.S. Code § 2384), Conspiracy to Obstruct Justice (18 U.S.C. §§ 1503, 1512, 1519), Conspiracy Against Rights / Deprivation of Rights Under Color of Law (18 U.S.C. §§ 241, 242), Perjury (18 U.S.C. § 1621), Concealment (18 U.S.C. § 1001).

At 10:00 a.m., a “surprise” witness is ushered into the room…

Gasps erupt from all angles.

The witness is immediately identified by his snow-white hair and beard. Everybody sees it is Julian Assange. He is a surprise witness for security reasons. He has been flown from Sydney to New Delhi to Frankfurt, and finally to Miami in a US government airplane, the lone passenger.

Recall: in June 2024, Assange reached a plea deal with the US DOJ: guilty on one count of conspiring to obtain and disclose classified US national defense information. He was sentenced to sixty-two months (time served), crediting the approximately five years he had already spent in Britain’s Belmarsh prison while fighting extradition — but not counting the six years and ten months he was holed-up before that in the Ecuadorian embassy in London. There was no additional jail time, supervision, or financial penalty.

Assange is sworn and seated, led through preliminary questions as to his identity, place of residence, his former occupation running the news service known as Wikileaks, blah blah. The prosecuting federal attorney will now turn to the subject of one Seth Rich — remember him? The twenty-seven-year-old was working for the Democratic National Committee (DNC) in 2016 as Voter Expansion Data Director. At 4:00 a.m. July 10, 2016, Rich was found dead, shot twice in the back, on Flagler Place NW, in the Bloomingdale neighborhood of Washington, D.C., in what police called “a botched robbery.”

Rather bizarrely from a police procedural standpoint, Rich’s wallet, stuffed with money, his watch, and his cell phone remained on his person. Only his laptop was taken in the “robbery.” It has been a “cold,” unsolved case all these years.

Sometime before the murder, as early as Spring 2016, well before the Democratic party’s nominating convention, Assange’s Wikileaks received a large packet of information containing as many as 58,000 emails hacked out of the account of John Podesta, Hillary Clinton’s campaign chairman. The emails detailed many curious machinations inside the DNC that year, including sketchy efforts underway to derail Clinton’s rival, Bernie Sanders, excerpts from Clinton’s paid private Wall Street speeches (e.g., to Goldman Sachs), references to Clinton’s health problems, her private email server issue, various Clinton foundation dealings, and a lot of strange chatter about “pizza” and other mundane food items that would eventually spawn the “PizzaGate” story alluding to alleged child sex cult activities centered around John Podesta and his brother Tony.

It was quite a juicy load. But Wikileaks sat on it until just before the election. That spring and summer, Hillary was already laboring under the scandal about the private email server she had set up in her suburban Chappaqua, NY, home. She had apparently used it casually when she ran the State Department to conduct official government business, including classified information, instead of her official government email address. That itself was against the law, apart from what else the content of the Podesta email trove revealed. The FBI had been working the server case that spring, and just weeks before the convention, FBI Director Jim Comey made a big public show of exonerating Hillary, declaring incorrectly that he declined to prosecute — since it is not the FBI’s job to prosecute, only investigate, and for the DOJ to actually decide whether to prosecute. But he did add for the record that her doings had been “extremely careless.”

Anyway, Comey’s blunder became a low-grade scandal unto itself, colored by the suspicious meeting a month earlier between Bill Clinton and then Attorney General Loretta Lynch in her official airplane parked on the tarmac of the Phoenix airport. Both claimed they just talked about their grandchildren. Hence, Comey letting Hillary off the hook in July had the odor of a set-up. She was duly nominated July 26, 2016.

In October, 2016, Wikileaks began dribbling out the hacked Podesta emails they had obtained earlier that year, just in time for the election. To complicate things, the FBI and the New York City police were just then investigating former Rep. Anthony Weiner, husband of Clinton’s closest aide Huma Abedin, for sending sexually explicit messages to a minor. In the course of things, they obtained Weiner’s laptop, which was stuffed with 140,000 additional emails between Ms. Abedin and Hillary. Yikes!

On October 28, 2016 (eleven days before the election), Comey sent a letter to Congress notifying them that the FBI was reviewing these newly discovered emails to determine if they contained classified information (they did), in effect re-opening Hillary’s private server case. Comey later testified he felt obligated to inform Congress to avoid accusations of a cover-up close to the election. He called it a “no-win situation.” On November 6, 2016 (two days before Election Day), Comey announced the review found no new evidence warranting charges, reaffirming the July conclusion.

All of this intrigue revolved around the question of who, exactly, hacked those DNC emails. In June 2016, a cyber-security outfit called CrowdStrike, run by former FBI agent Shawn Henry, identified two Russian intelligence-linked groups — Cozy Bear and Fancy Bear — as responsible for the DNC hack. By that time, the Steele Dossier was already circulating between the CIA, the FBI, and the White House. The Russia collusion story (the RussiaGate hoax) was busy being born. Russia Russia Russia !!! It was all the people of the USA heard the whole four years of the first Trump term.

Which brings us forward to the courtroom scene, February, 2027, Julian Assange in the witness chair. The young lead federal prosecutor (one of several) in the room, finishes his preliminary questions and asks Assange: “Are you willing to tell the court now, who exactly was your source for the DNC emails?” Assange has kept it secret for all these years. But he had been very badly abused by some of the very US government officials who are sitting at the two defendant’s tables, and he is rather sore about all the years he had to hide out in the Ecuadorean embassy in London before the Americans induced the British authorities to stuff him in Belmarsh prison for another five.

“Yes,” he says placidly.

“It was a young man named Seth Rich. He copied it onto a thumb-drive directly from the DNC.”

And that is how all the bullshit about RussiaGate finally dissolves into a rancid cloud of sedition for the folks slumped in their seats on the defendants’ side of the courtroom.

Shout out to the valiant podcaster Mel K for pointing us in the right direction on this one.

Tyler Durden
Sun, 07/12/2026 – 11:40

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Is Title IX Holding Back U.S. Men’s International Soccer?


USMNT and Title IX

In the wake of the World Cup soccer defeat of the U.S. Men’s National Team (USMNT), analysts have  been wondering what the U.S. can do better to improve its talent in international competitions. In the 4-1 defeat to Belgium, it seemed apparent that other countries (often European countries) have done a better job of developing a talent pipeline for men’s soccer than the U.S. Why hasn’t the U.S. developed better men’s talent?

As an avid fan of the U.S. men’s (and women’s) national soccer teams, I have been following the debate closely. Commonly identified culprits include: America’s “pay to play” system of youth soccer, diversion of some of America’s best athletes to other sports, and the alleged lack of a true American soccer “culture.”

But on Friday, Scott Yenor of the Heritage Foundation tried to add a new suspect to the list. He offered his view that America’s Title IX regime was “a factor behind the underperformance of U.S. men’s soccer on the international stage.” I’m not sure whether his article was intended to manly to provoke. But the article is so disassociated from the current realities surrounding soccer talent development that a brief response may be warranted.

As Yenor tells the tale, Title IX’s prohibition of sex-based discrimination in college sports programs has created “perverse incentives.” According to Yenor, Title IX forces universities with (American) football teams to balance things out by padding the rosters of their women’s teams in other sports—and, in some cases, cutting men’s soccer teams. Yenor displays statistics showing that soccer participation by sex in National Collegiate Athletic Association (NCAA) Division I programs has changed over time, so that women now outnumber men.

According to Yenor, these statistics show that, while “America’s women’s soccer has a world-class pipeline … Title IX prevents men’s soccer from building one.” Yenor provocatively concludes that “[o]nly when America drops its sports sex-quota system will the American men stop being humiliated by Belgium.”

In my view, Yenor’s argument betrays a lack of any real understanding of how talent pipelines of men in international soccer work. Because he does not seriously engage with the real debate over how to improve the USMNT, his policy recommendation misses the mark.

Starting with his graph, his timeline shows little connection to the World Cup performances by America’s men’s (and women’s) national teams. Title IX became effective in the mid-1970s. The men’s team did not qualify to participate in any World Cups for many years both before and after. Focusing on the modern era, the U.S. men did not qualify to play between 1954 and 1986. The U.S. men did qualify in 1990—more than a decade after Title IX went into effect—and reached the Round of 16 at the next opportunity, in 1994. In 2002, the USMNT reached the quarterfinals.  In its last four appearances—in 2010, 2014, 2022, and 2026—the men played consistently, reached the Round of 16 each time … but progressed no further.

To be sure, Title IX’s enactment no doubt helped propel the U.S. women to success. They won the first women’s World Cup in 1991. They were also champions in 1999, 2015, and 2019. But in its most recent appearance, in 2023, the U.S. Women’s National Team (USWNT) disappointingly only reached the Round of 16. This trendline—consistent, long-standing success followed by a sharp drop in the most recent tournament—bears little relation to the escalating college participation over decades by women that Yenor depicts.

The core problem with Yenor’s argument is its focus on the very backend of the talent pipeline—players entering college soccer programs. But as has been widely discussed—both before and after the USMNT’s defeat against Belgium—developing international-level talent requires starting much earlier than college. The Athletic has a good summary of the discussion. It quotes Marije Elferink-Gemser (a Dutch professor who studies sports and talent development). She explains that, in soccer, “the ball-handling skills are so difficult that you really need to do it from a young age on.” It appears that “golden age” for developing skill acquisition is the first six years of a child’s life, although some might argue that the age extends all the way to age twelve.

After a child learns basic ball handling skills, the next step in the process is intensive training in soccer skills—again, well before a boy (or girl) enters college. As is commonly discussed in the soccer talent debate, many European (and other) countries have soccer “academies,” where budding stars begin training as youn as age nine. As an example, consider perhaps the best player in the world: France’s Kylian Mbappé. Mbappé began training with his local club at age six. Then he moved to the French national football academy—Clairefontaine—where his impressive performances led to many professional European teams trying to sign him. At age 14, Mbappé joined the youth academy of the French soccer power, Monaco. By age 16, he became a first-team player for Monaco. At age 18, he completed a move to France’s best professional club team (Paris Saint-Germain) for a price of €180 million. Ever since he has been an internationally recognized star.

To develop top-tier, international-level talent, the U.S. is going to need to replicate this kind of intensive professional training at a young age for some of its elite, budding soccer players. From a talent-pipeline perspective, it makes no sense to debate whether changes in Title IX might slightly upgrade the men’s soccer programs at the University of Texas or University of Florida (examples cited by Yenor, where only university club teams exist). There are already more than 6,000 men’s soccer players playing in NCAA Division I. A few more players at the end of the bench in college soccer isn’t going to change America’s international standing.

And, of course, Yenor is assuming that changing Title IX to add additional scholarships at U.S. universities will result in more American players; but many scholarship athletes come from other countries. As one example, consider the 2024 NCAA Division I men’s final between Vermont and Marshall. According to one tabulation, 73% of the starters were international players from countries such as Germany, Japan, and Brazil; Marshall’s squad of 28 players contained only three who were American.

The declining importance of college participation to the USMNT is easy to see by looking at U.S. World Cup rosters. To be sure, college soccer was once the central pipeline for the U.S. men’s national team: every player on the 1990 World Cup roster appears to have played U.S. college soccer, and roughly three-quarters of the 1994 and 2002 rosters did. But by the modern era, that share had fallen sharply. In the last two World Cups, it appears that only about 8 of the 26 players had done so—and only a few of them were starters. Of the USMNT starters on the field against Belgium this month, only goalkeeper Matt Freese (Harvard) and 38-year-old defender Tim Ream (Saint Louis) appear to have been former NCAA soccer players.

The trend towards fewer ex-college players is attributable to several factors that have nothing to do with Title IX regulations on NCAA scholarships. One of the most important factors is the rise of Major League Soccer (MLS) academies in the U.S., designed to compete with the well-developed European soccer academies. More than two dozen U.S.-based MLS teams exist. All teams have strong academies designed to develop local talent, either to supplement their rosters or to generate income by selling these players in the international transfer market.

The next generation of U.S. talent may well come from these academies. The Athletic already has an interesting projection of which new players are most likely to make the 2030 World Cup roster of the USMNT. Assuming that 14 current players return, it is then possible to project an additional 16 new arrivals, broken into the categories of “just missed” (#15-20) and “next generation” (#21-30), with ages and current club affiliation listed:

Just Missed in 2026

15. Noahkai Banks (19) — FC Augsburg
16. Johnny Cardoso (24) — Atlético de Madrid
17. Tanner Tessmann (24) — Olympique Lyon
18. Aidan Morris (24) — Middlesbrough FC
19. Patrick Agyemang (25) — Derby County
20. Diego Luna (22) — Real Salt Lake

Next Generation in 2030

21. Zavier Gozo (19) — Real Salt Lake
22. Cavan Sullivan (16) — Philadelphia Union
23. Adri Mehmeti (17) — New York Red Bulls
24. Julian Hall (18) — New York Red Bulls
25. Peyton Miller (18) — New England Revolution
26. Mathis Albert (17) — Borussia Dortmund
27. Rokas Pukstas (21) — HNK Hajduk Split
28. Julian Eyestone (20) — Brentford
29. Diego Kochen (20) — Lyngby Boldklub, on loan from FC Barcelona
30. Josh Wynder (21) — SL Benfica (B team)

Of this list of sixteen potential players, only three appear to have previously played college soccer (or seem likely to do so in the future): Aidan Morris, Patrick Agyemang, Julian Eyestone. Notably, two of these three also went to an MLS academy (Morris, who spent three pre-college years at the Columbus Crew academy; and Eyestone, who joined the FC Dallas academy at around age 10). And only one of the three — Agyemang, the oldest player on the list — played four years of college soccer. Morris played one fall season at Indiana, before leaving to sign with the Columbus Crew; Eyestone played one fall season at Duke, before signing with Brentford in England. By my count, eleven of the sixteen went to MLS academies and several of the others went to foreign academies (Banks at FC Augsburg, Cardoso at Brazilian academies, and Kochen at Barcelona’s famous La Masia academy) and Josh Wynder went to a Louisville City/USL academy (the second-tier league below MLS).

Part of the reason that U.S. men’s players (such as Morris and Eyestone) want to leave NCAA soccer programs quickly is that the NCAA requires that athletes be students first, and soccer players second. Generally speaking, the NCAA rules cap the amount of “countable athletically related activities.” During the playing season, the standard Division I limit is 4 hours per day and 20 hours per week, with required days off. And the season lasts only a few months of the year.

There are occasional NCAA exceptions allowing more training for Olympic-level athletes. But the last thing that American soccer would want to encourage is its top athletes going into NCAA-regulated college soccer programs. For an elite soccer talent, the NCAA rules are major constraints. A professional environment can offer, well, professionalism: such things as daily training throughout the year, individualized technical work, strength and conditioning, recovery, nutrition, film study, reserve-team matches, and first-team integration. The NCAA season is compressed in a fall window of about three months, with some stretches of three games in eight days—a bad program for training. There are other problems as well. But the general point is that as fewer elite American men go into college soccer programs, that likely improves our talent pool by putting them in more competitive and professional environments.

An excellent scholarly analysis of the rise in non-college pathways to the USMNT comes from Samford University’s Center for Sports Analytics. In a report published this May, the Center presciently predicted something like the USMNT’s round-of-16 exit in July. The report’s title is “The 2026 USMNT Is the Best American Soccer Team in History. It Still Isn’t Good Enough.” The report carefully explains, comparing the 1994 and 2026 USMNTs, far fewer of today’s players are arriving from college soccer. Instead, four additional pathways, apart from the historical college path, exist to arrive at the USMNT: (1) the Youth Export, (2) the MLS-Academy-to-Foreign-League; (3) the MLS “Lifer”; and (4) the  Foreign-Raised Dual-National.

And, interestingly, the report notes that the “further up the pitch [i.e., field] you go on the 2026 USMNT, the more European the system that produced the player becomes.” The report explains that, currently, even the MLS does not produce America’s match-deciding players. European clubs do … and American teenagers are now competing for academy spots at those clubs alongside the world’s best young players. The report also impressively presents detailed analytics, showing that the key metric for predicting how a national soccer team will perform at the World Cup is total playing time for a country’s nationals in the five elite European soccer leagues over the just-completed season. By that metric, the U.S. currently sits just outside the top eight teams (in tenth position)—exactly where the team finished in this year’s World Cup.

So on the men’s side, the college pipeline has little relevance to World Cup performance. But what about the women’s side? Yenor also argues that, compared to the U.S. men, the U.S. women have built a “world-class pipeline” through college soccer. To be sure, Title IX’s enactment in the 1970s helped to propel the U.S. women’s team to the top. The timing gave American women’s soccer a jump start ahead of other countries.

But here again, Yenor’s chart (reproduced above) bears little connection to that jump start. The chart shows increasing women’s participation in NCAA Division I over the last several decades. But the development of players for the USWNT has always been heavily concentrated in a handful of elite college programs. The fact that (for example) such schools as Mercyhurst University, Lindenwood University, and others have recently added Division I women’s soccer programs is disconnected from the national team program.

NCAA development of international-level women’s soccer players has always been heavily concentrated in the most competitive schools. The prime example is UNC, where the amazing Tarheels women’s program won 16 of the first 19 national titles. More recently, schools like Stanford, Santa Clara, Penn State, Notre Dame, and a few others have been involved. But increasingly USWNT players are turning pro and never playing college soccer.

The trend of avoiding NCAA soccer is due to a recent change in the legal environment that now allows strong American girls to turn professional at a young age. Olivia Moultrie was the trailblazer here. Moultrie started playing soccer when she was four years old. By fifth grade, she was homeschooled so that she could focus on soccer and became the first girl on a boys’ club team to play in the U.S. Soccer Development Academy system. At 11, she accepted a full scholarship offer to play soccer for the UNC Tar Heels when she reached college age, becoming the youngest female soccer player to publicly accept a college offer at the time. Shortly thereafter, she traveled to Europe to train. When she was 13, she began training with the Portland Thorns (of the National Women’s Soccer League or “NWSL”).

In 2021, when she was 15, Moultrie filed an antitrust lawsuit against the NWSL in district court in Oregon. She alleged that the NWSL, as the “only acquirer of talent in the [professional] market,” violated the Sherman Antitrust Act with its age-requirement that players be 18 years old. Her lawsuit asked for a temporary restraining order against the age rule so that she could play during the 2021 pro season. U.S. District Judge Karin Immergut granted a temporary restraining order and preliminary injunction, ordering the league to lift its age limit and allow Moultrie to compete for a roster spot on the Thorns. Moultrie became the youngest player in NWSL history to score a goal and appear in a NWSL championship game.

Unsurprisingly, Moultrie has also featured for the USWNT, where she has made a total of 18 appearances, including 7 during 2026. And Moultrie is hardly alone in taking this professional path. Recently, many of America’s brightest young USWNT stars have skipped college. Consider what a projected “starting eleven” lineup for the U.S. women’s team might look like next year in the 2027 Women’s World Cup in Brazil, arranged from oldest to youngest player, with any college experience noted:

  1. Emily Fox (28 years old) — North Carolina, 2017-2020.
  2. Mallory Swanson/Pugh (28) — Enrolled at UCLA but left before playing an official NCAA season; no NCAA soccer.
  3. Hannah Stambaugh (27) — Japanese youth/pro route; no NCAA soccer.
  4. Tierna Davidson (27) — Stanford, 2016-2018.
  5. Naomi Girma (26)— Stanford, 2018-2021.
  6. Sophia Wilson/Smith (25) —Stanford, 2018-2019; only two NCAA seasons.
  7. Trinity Rodman (24) — Turned pro directly; no NCAA soccer.
  8. Jaedyn Shaw (21) — Turned pro at 17 rather than playing college soccer; no NCAA soccer.
  9. Gisele Thompson (20) — Signed directly with Angel City rather than playing at Stanford; no NCAA soccer.
  10. Olivia Moultrie (20) — Turned pro with Portland; NWSL debut at 15;  no NCAA soccer.
  11. Lily Yohannes (19) — Ajax/Lyon pro pathway; no NCAA soccer.

Of the eleven players on this list, only four played NCAA soccer, and only three played for the full four years. And the difference between the older players and younger players is stark: Of the five youngest players on the possible projected starter list (such as Moultrie), none played NCAA soccer.

As with the men’s team, recent scholarly research about the women’s team highlights the importance of these non-college pathways to the USWNT. And given the rising strength of women’s soccer teams in other countries—apparently fueled by professional training opportunities at professional clubs—the need for these non-college pathways is increasing. The U.S. women exited the last World Cup in 2023 earlier than ever before—in the Round of 16. A new generation of professionally trained players is needed to return America to the top.

As the recent pathways for top players joining both the U.S. men’s and women’s national teams demonstrate, NCAA college soccer is fading into obscurity as part of the international talent pipeline. There may be arguments for modifying some of Title IX’s rules to expand athletic opportunities for men in soccer or other sports. (I take no position on that issue here.) But the claim that changing Title IX’s rules could have any meaningful benefit for the American men’s international soccer team is but a provocative diversion from the real issues. To beat the best professionals, the top U.S. men—and women—need to follow the most professional paths.

***

Note: In the interests of brevity, in this post I have referred to the “World Cup” and “Women’s World Cup,” because those are the official names of the competitions as given by FIFA. I acknowledge that using the sex modifier for the women’s game but not the men’s might be viewed as relegating the women’s game to second-class status. But, at this time, this linguistic approach appears to be conventional.

The post Is Title IX Holding Back U.S. Men's International Soccer? appeared first on Reason.com.

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Ukrainian Expert Dismisses Trump Pledge On Patriot Missile License As Empty PR

Ukrainian Expert Dismisses Trump Pledge On Patriot Missile License As Empty PR

President Trump’s declaration from the NATO summit in Turkey this week saying that he’ll give Ukraine a license to produce Patriot defense systems has been met with a lot of skepticism, both among Ukrainians and internationally. 

“We’ll give them the right to make Patriots. We’ll show them how to do it,” Trump had said. “I think they can produce them pretty quickly.

via Associated Press

Zelensky seized on the opening, telling reports on Thursday, “America has recognized Ukraine as a country that is ready to do this” and urged Ukrainian and American officials to now work “without pauses” to finalize the licensing arrangements.

Immediately the Associated Press raised some relevant questions, such as: What exactly would Ukraine be allowed to produce?… also while pointing out that under the best conditions, getting such production off the ground would take ‘years’. It wrote:

Anatolii Khrapchynskyi, development director of the Fly Group Ukraine defense company, said Trump’s wording was ambiguous because he referred broadly to producing “Patriots,” without specifying whether he meant missiles, launchers, radar systems, command centers or components.

Missile production alone involves a vast supply chain, Khrapchynskyi said, with hundreds of companies making parts such as control surfaces, engines, guidance systems and communications equipment.

Following this, on Saturday Ukrainian economist and financial analyst Alexey Kushch – considered an expert of Ukraine’s defense production – was cited in regional media as dismissing Trump’s promise as mere empty PR.

His commentary is below, featured in Russian media:

“I think that was a marketing statement,” Kushch said in an interview with Novyny. Live news website, referring to Trump’s pledge. According to him, only Semi-Knocked Down (SKD) production of Patriot missiles could be launched in Ukraine, using imported components. “Such production sites should be protected,” the expert explained. “The whole of Ukraine is exposed to [enemy] fire, and missiles can even reach the Transcarpathian Region,” he said. According to Kushch, Patriot production could be localized in his country only after the hostilities end.

“We don’t have a [Turkish] Bayraktar plant, or [German] Rheinmetall production either here yet,” he added.

As for Trump’s initial comments, he had also explained that American defense firms are already building “four plants” in the US and claimed that “all of our companies will be able to do this in two to three months.”

There have notoriously been immense backlogs when it comes to Patriot production, and there’s said to be great global demand among US allies, especially given depletions which have come as a result of the Iran war.

Tyler Durden
Sun, 07/12/2026 – 11:05

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“Planet’s Strongest Heat Dome” To Bake America’s Heartland

“Planet’s Strongest Heat Dome” To Bake America’s Heartland

What some meteorologists are calling the “planet’s strongest heat dome” is set to build over America’s heartland next week. Triple-digit temperatures are expected across the northern Plains, with dangerous heat pushing eastward into parts of the Mid-Atlantic.

The planet’s strongest heat dome will develop over the Intermountain West and Plains into next week,” meteorologists Ben Noll wrote on X, adding, “This will produce rare levels of heat up to around 110 degrees in Idaho, Wyoming, Montana and the Dakotas. On Sunday, Billings, Montana, could be hotter than Phoenix!”

Meteorologist Jeff Berardelli also sounded the alarm, saying, “Whopper of a heat dome coming, and that’s no exaggeration! In all aspects: size, longevity, and especially intensity this will be extreme. The heat dome should shatter all-time records for upper level pressure in the Northern Plain States.” 

Bloomberg data for the Lower 48 show that forecast high temperatures will be comparable to those recorded during the last heat wave from late June into early July.

High temperatures in Washington are expected to reach 100F by midweek.

Temperatures in New York City are expected to reach the high 90s by Wednesday.

It is likely that the PJM Interconnection grid will withstand the second round of heat, as the Trump administration has made it a priority to ensure maximum power generation during hot days when cooling demand surges.

Beyond grid stability concerns during peak-load hours, attention will likely turn to agricultural markets as critical growing regions bake under extreme heat. Wheat futures in Chicago surged 3% on Friday. 

Tyler Durden
Sun, 07/12/2026 – 09:55

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Tehran Declares Hormuz Closed, But Ships Are Still Transiting

Tehran Declares Hormuz Closed, But Ships Are Still Transiting

The Strait of Hormuz’s southern shipping channel remained open Sunday morning despite a sharp escalation in tit-for-tat attacks, with the US launching a third round of airstrikes on Iran and Tehran retaliating against US-linked targets across Arab Gulf states.

Commercial traffic through the Strait of Hormuz continued at reduced levels, with vessels transiting via both the southern Omani corridor and the northern Iranian-controlled route,” the Joint Maritime Information Center wrote in a note early Sunday.

JMIC added, “Traffic patterns continued to reflect operator caution following recent attacks.”

US Central Command said the overnight strikes on Iran were to neuter its ability to attack commercial ships in the Hormuz chokepoint after a Cyprus-flagged container vessel was heavily damaged near the critical waterway. Iranian media reported explosions across key coastal and energy facilities, including Bushehr, Asalouyeh, and Bandar Abbas.

Our overnight US-Iran wrap detailed that Tehran retaliated with missile and drone attacks on US-linked military facilities in Jordan, Qatar, Kuwait, Bahrain and Oman. Qatar said it intercepted incoming missiles, while air-defense sirens were reported across several Gulf states. Read the report here.

Despite Tehran declaring the Hormuz chokepoint “closed until further notice,” JMIC’s update on the southern Omani shipping corridor and Bloomberg data show a trickle of activity, which may only suggest Tehran’s total control of the strait is waning.

As for the normalization of tanker flows in the Hormuz chokepoint, the timeline now appears to be slipping. Many institutional desks had already priced in a gradual reopening and lowered their Brent and WTI forecasts (Citi was the latest), but that outlook now looks on hold.

 

Tyler Durden
Sun, 07/12/2026 – 09:20

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US Population Growth Prospects Corrected Downwards

US Population Growth Prospects Corrected Downwards

The population of the United States is projected to keep on climbing beyond 2100. However, the rate of increase that can be expected until 2050 has been significantly corrected downwards over the last couple of years.

As Statista’s Katharina Buchholz reports, according to the Congressional Budget Office, 349 million people live in the United States in 2026. In 2050, this is expected to have risen to 364 million. In 2019, previous to the coronavirus pandemic, the 2050 forecast had still shown a U.S. population of 389 million.

Infographic: U.S. Population Growth Prospects Corrected Downwards | Statista

You will find more infographics at Statista

As seen in the data, U.S. population projections were substantially impacted by Covid-19, as the country experienced high excess mortality and projections kept being corrected downwards due to this fact. In the years when the pandemic subsided, forecasts showed higher expected population numbers again, while 2025 and 2026 projections trended lower once more. The latest 2026 forecast reached a new low compared to the previous years’ ups-and-downs as U.S. net immigration fell majorly in 2025.

As a reversal of low birth rates seem more and more unlikely, immigration continues to keep U.S. population growth afloat. Immigrants have contributed more to it than net births have since the second year of the coronavirus pandemic. At this point, net births (births minus deaths) took a major hit from which they never fully recovered. The Congressional Budget Office expects U.S. net births to turn negative around 2030, at which point only immigration will be contributing to U.S. population growth.

But the U.S. population is not just growing slower, it is also aging in the process. While in 2026, there are 2.7 working-age Americans (25 to 64 years old) per one American aged 65 or over, this will have changed to 2.2 to 1 in 2056 as the big cohort of baby boomers continues to cross this age threshold. As a result, more strain is expected on safety net system like Social Security, Medicare or Medicaid.

Tyler Durden
Sun, 07/12/2026 – 08:45

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