Zero Hedge

Immigration Judge Rejects Kilmar Abrego Garcia's Asylum Bid

Immigration Judge Rejects Kilmar Abrego Garcia's Asylum Bid

Authored by Aldgra Fredly via The Epoch Times,

An immigration judge in Maryland on Oct. 1 rejected a motion filed by Kilmar Abrego Garcia’s attorneys to reopen his 2019 petition for asylum in the United States.

Abrego Garcia, an illegal immigrant from El Salvador, was deported to his homeland in March by the Trump administration and was later returned to the United States under a Supreme Court order.

He had initially sought asylum in 2019 but was denied. Abrego Garcia’s attorneys petitioned the immigration court in August to reconsider his asylum case, citing concerns that he could be deported to Uganda.

In an Oct. 1 ruling, the immigration judge in Baltimore denied the request but gave Abrego Garcia 30 days to appeal the decision with the Board of Immigration Appeals.

The Department of Homeland Security (DHS) hailed the ruling in a social media post, saying that it affirms Abrego Garcia’s removal from the country.

“With today’s ruling, Kilmar Abrego Garcia’s final order of removal stands,” DHS stated. “His lawyers tried to fight his removal from the U.S. but one thing is certain, this Salvadoran man is not going to be able to remain in our country.”

The Epoch Times reached out to Abrego Garcia’s attorney for comment but did not receive a response by publication time.

Abrego Garcia, who illegally entered the United States in 2011 and stayed in Maryland, was accused of being a member of the foreign terrorist organization MS-13. He was deported to El Salvador alongside other deportees in March despite a 2019 immigration court order granting withholding of removal to his homeland due to safety concerns.

The Salvadoran national was returned to the United States in June under a Supreme Court order and held in custody on charges of immigrant smuggling, stemming from a 2022 traffic stop, to which he has pleaded not guilty.

The administration has indicated that Abrego Garcia could be deported to a third-party country, naming the African nation of Uganda as the possible destination.

Abrego Garcia’s attorneys argued that Abrego Garcia risked persecution or torture if sent to Uganda. ICE then changed the destination country to Eswatini, another African nation with which Abrego Garcia has no ties, according to an email shared by DHS last month.

“That claim of fear is hard to take seriously, especially given that you have claimed (through your attorneys) that you fear persecution or torture in at least 22 different countries,” ICE stated in its email.

U.S. District Judge Paula Xinis ruled in August that Abrego Garcia must remain in the country until she holds a hearing on Oct. 6.

Tyler Durden Fri, 10/03/2025 - 15:45

Hegseth Announces 4th Deadly Strike On 'Narco-Terrorist' Boat Off Venezuela 

Hegseth Announces 4th Deadly Strike On 'Narco-Terrorist' Boat Off Venezuela 

Pentagon chief Pete Hegseth announced Friday another military strike on an alleged drug-smuggling boat off Venezuela which killed four people.

This marks at least the fourth such attack, and after President Trump formally notified Congress this week that the US was entering a "non-international armed conflict" with drug cartels. Hegseth made clear on social media, "These strikes will continue until the attacks on the American people are over!!!!"

USS Sampson (DDG 102), a U.S. Navy missile destroyer. via Anadolu Agency

Hegseth affirmed in a social media post that he had directed the latest strike on Trump's orders, and released overhead drone video of the attack.

"The strike was conducted in international waters just off the coast of Venezuela while the vessel was transporting substantial amounts of narcotics – headed to America to poison our people," Hegseth said on X.

"Our intelligence, without a doubt, confirmed that this vessel was trafficking narcotics, the people onboard were narco-terrorists, and they were operating on a known narco-trafficking transit route," he added.

Trump's rationale for the attacks in the aforementioned memo states the cartels are "non-state armed groups" whose actions smuggling drugs "constitute an armed attack against the United States".

As for Hegseth, his post claimed the boat was "affiliated with Designated Terrorist Organizations" - however there remains a legal dispute as to whether merely labeling a cartel as an FTO automatically warrants military action, and without warning or attempt to intercept the vessel.

In particular the administration has essentially declared war on the Tren de Aragua cartel, and says it is cooperating with the Maduro government, which Caracas has rejected, and so the presence of the cartel's members in the US is a "predatory incursion" by a foreign nation.

The new footage of the Friday (presumably) drone attack...

The Washington Examiner on Thursday said that war could be on the horizon. The publication "understands that military planners believe the assembled forces are now sufficient to seize and hold key strategic facilities such as ports and airfields on Venezuelan territory (the Washington Examiner is withholding some details for national security reasons)." And for now it appears the occasional attack on small alleged drug boats will continue.

Tyler Durden Fri, 10/03/2025 - 15:20

Trust In Media Among Americans Hits Record Low: Gallup Survey

Trust In Media Among Americans Hits Record Low: Gallup Survey

Authored by Zachary Stieber via The Epoch Times,

Trust in media among Americans has hit a record low, according to a Gallup survey released on Oct. 2.

Just 28 percent of adults told Gallup that they have a great deal or fair amount of trust in the media.

That’s a decline from 31 percent in 2024, 32 percent in 2023, 40 percent in 2020, and a peak of 72 percent in 1976, shortly after Gallup first started asking about trust in the media in 1972.

In the latest survey, carried out Sept 2–26, 8 percent of respondents said they have a great deal of confidence in mass media, such as newspapers and television, to report the news fully, accurately, and fairly.

Twenty percent said they have a fair amount of confidence, 36 percent of respondents said they have not very much confidence, and 34 percent said they have none at all.

When divided by party affiliation, Republicans were the most likely to say they do not have confidence in the media. Sixty-two percent of Republican respondents said they have no confidence, and 30 percent said they have little confidence. Just 5 percent expressed a fair amount of confidence in the press, with the remaining 3 percent expressing a great deal of confidence.

Among independents, 7 percent said they have a great deal of trust in the media, 21 percent said they have a fair amount of trust, 38 percent said they have not very much trust, 32 percent said none at all, and 2 percent said they did not know.

Most Democrats—51 percent—have a great deal or fair amount of confidence in the media. While that was a majority of Democrat respondents, it is also a tie for the record low among Democrats. Thirty-nine percent said they have a little trust, 9 percent said they have no trust, and 1 percent said they were not sure.

Older adults were more likely to express trust in the media. Thirty-seven percent of adults aged 55 and older said they have a great deal or fair amount of trust in the media, compared to 21 percent of people aged 35 to 54 and 24 percent of younger adults.

“With confidence fractured along partisan and generational lines, the challenge for news organizations is not only to deliver fair and accurate reporting but also to regain credibility across an increasingly polarized and skeptical public,” Gallup stated.

The survey from September was conducted over the telephone with adults living in all 50 states and the District of Columbia. The results are based on a random sample of 1,000 respondents. The margin of sampling error was plus/minus 4 percent.

Tyler Durden Fri, 10/03/2025 - 15:00

"Huge Red Flag" - Chanos Joins Growing Crowd Questioning Subprime Credit In "The Golden Age Of Fraud"

"Huge Red Flag" - Chanos Joins Growing Crowd Questioning Subprime Credit In "The Golden Age Of Fraud"

In a 2020 Lunch with the FT interview, Jim Chanos said financial markets were in “the golden age of fraud”.

On Thursday he said this phenomenon had “done nothing but gallop even higher” since he made the remark. 

And now, as we have been highlighting recently, the dominoes may have started falling...

Beneath the surface of what’s been a remarkably resilient US economy, a series of small shocks in the world of consumer credit have combined to rock companies that service financially-vulnerable Americans, raising major questions about the true strength of the supposedly omniscient consumer's health.

Following the collapse of Tricolor Holdings (a subprime auto lender), and weak second-quarter results from CarMax; we have seen car parts supplier First Brands Group...

...wrongfooting investors further with payments company Klarna and buy-now, pay-later firm Sezzle also suffering declines alongside the 'Alts' market and private credit...

And as alternative asset managers tumble, The FT reports that 67 year old Chanos likened the near $2tn private credit apparatus fuelling Wall Street’s lending boom to the packaging up of subprime mortgages that preceded the 2008 financial crisis, due to the “layers of people in between the source of the money and the use of the money”.

“With the advent of private credit . . . institutions [are] putting money into this magical machine that gives you equity rates of return for senior debt exposure,” he said, adding that these high yields for seemingly safe investments “should be the first red flag”.

In the case of Tricolor and First Brands, questions (though no official allegations) have been raised about the substantial use of off-balance sheet financing and the possibility of rehypothecation of invoices (pledging collateral multiples times).

Chanos said:

“We rarely get to see how the sausage is made.”

Indeed, but one cut and the guts come spilling out

“The opaqueness is part of the process,” Chanos said.

“That’s a feature not a bug.”

The 'opaqueness' surprised many, as we detailed previously

Nevertheless, while traders can't pin down the driver of the weakness in 'Alts', The FT concludes that several large banks have also been caught up in the collapse, including JPMorgan Chase and Fifth Third, which are exposed to losses on hundreds of millions of dollars' worth of auto loans.

A second investor who has since sold their position in packaged-up Tricolor loans said they had no idea how potential financial irregularities went unnoticed by JPMorgan Chase, one of the banks that underwrote debt offerings.

“That’s the shocking part of it,” the investor said. “JPMorgan is one of the most sophisticated lenders in the entire world. How the hell could they have missed this?”

JPMorgan declined to comment.

Tyler Durden Fri, 10/03/2025 - 14:40

USA Rare Earth Shares Spike More Than 18% On News Of Talks With Trump Administration

USA Rare Earth Shares Spike More Than 18% On News Of Talks With Trump Administration

USA Rare Earth shares rose more than 18% to a record high Friday after CEO Barbara Humpton said the company was in “close discussions with the White House” during a CNBC interview. We have highlighted the name multiple times when discussing potential rare earth companies that the Trump administration could take interest in. We also noted MP Materials months ago before the company's nearly 400% ascent. 

Humpton's remarks follow the Trump administration’s 5% stakes in Lithium Americas and its Thacker Pass joint venture with General Motors earlier this week. In March, Trump invoked emergency powers to boost U.S. mineral output after China halted rare earth exports, underscoring the need for domestic supply.

Recall, just hours ago we noted that as part of America's Industrial Policy transformation, The Trump administration is pressing companies across nearly 30 industries to strike deals that advance national and economic security goals.

Officials are offering tariff relief, revenue guarantees, and even government equity stakes in exchange for concessions. The rapid pace of negotiations is aimed at securing political wins for President Donald Trump before the 2026 midterm elections, sources said. 

Commerce Secretary Howard Lutnick has emerged as the administration’s lead dealmaker, overseeing government stakes in Intel and Nippon Steel’s purchase of U.S. Steel. “If we're going to give you the money, we want a piece of the action,” Lutnick said in August. He is building out a Wall Street-heavy team under a new U.S. Investment Accelerator, seeded in part with $550 billion from Japan as part of its trade commitments.

The International Development Finance Corporation, originally tasked with overseas projects, is also central to the strategy. A June proposal before Congress would expand its mandate and increase its firepower to $250 billion, creating an equity fund to support critical supply chains, energy, minerals, and infrastructure.

Reuters reports that the administration’s outreach spans semiconductors, AI, shipbuilding, critical minerals, energy, and pharmaceuticals. On Tuesday, Trump announced a White House deal with Pfizer to cut drug prices in exchange for tariff relief, declaring: “The United States is done subsidizing healthcare of the rest of the world.”

Companies are learning the optics are as important as the agreements. Eli Lilly was pressed by the administration after announcing new U.S. plants without including Trump. “As an American company, Lilly is committed to expanding manufacturing capacity in the U.S.,” a spokesperson said. Pfizer and AstraZeneca declined comment.

And we continue to watch the nuclear space closely, where we have speculated that names like Centrus Energy (LEU) could be in line for attention from the adminstration. 

Tyler Durden Fri, 10/03/2025 - 13:20

Boeing 777X Commercial Debut Pushed To 2027, Billions In Charges Loom

Boeing 777X Commercial Debut Pushed To 2027, Billions In Charges Loom

Boeing's 777X widebody jet is not expected to enter commercial service until early 2027, one full year later than planned, or about seven years behind schedule. One Jefferies analyst now expects Boeing to take a massive charge due to the delay, adding yet another headache for the struggling planemaker. The fresh setback comes one week after reports suggested the FAA was easing restrictions on 737 Max deliveries. 

Bloomberg, citing sources familiar with Boeing and major airlines, reported that the 777X will not be delivered to Deutsche Lufthansa AG and Emirates in 2026, with the latest plans pushing entry into service to 2027.

Deutsche Lufthansa AG, the launch customer for the widebody aircraft, is already laying the groundwork for a fresh setback. The German airline isn't including the 777X in its fleet plans until 2027, said one of the people, who asked not to be identified because the matter is confidential. Officials at Emirates, the 777X's biggest customer, have also grown more cautious as it looks at entry into service possibly not before 2027. -BBG

The potential commercial delay for the 777X prompted Jefferies analyst Sheila Kahyaoglu to forecast that Boeing could take a charge as large as $4 billion due to the delays. 

That includes the lost cash Boeing would have collected in 2026 from delivering 18 of the widebody jets, along with customer concessions and other related costs. Of the many challenges that the planemaker currently faces, "I'm sure it's a big priority because it's going to be a big cash drain for them," Kahyaoglu said of the 777X certification delays.

Separately, RBC analyst Ken Herbert expects the 777X's entry into service to begin sometime in the second half of 2027. He forecasts a $2.5 billion charge due to the delay.

Last month, Boeing CEO Kelly Ortberg revealed to investors at a Morgan Stanley conference that the 777X certification process was falling behind schedule.

Emirates (the largest customer), Qatar Airways, Lufthansa, Etihad Airways, Cathay Pacific, All Nippon Airways, and British Airways are among the customers awaiting delivery. This new jet is the successor to its out-of-production 747 jumbo.

Boeing shares are flat in premarket trading in New York. For the year, shares are up 23% (as of Thursday's close) and have been locked in a half-decade lateral pattern since the twin Max jet crashes and the Covid pandemic.

Related:

For the Trump administration, 737 Max's global supply chain is a significant problem. 

Time to re-shore. Read the report.

Tyler Durden Fri, 10/03/2025 - 12:40

Apple Takes Down Apps Used To Report Sightings Of ICE Agents

Apple Takes Down Apps Used To Report Sightings Of ICE Agents

Authored by Victoria Friedman via The Epoch Times,

Apple on Oct. 2 said it removed from its store apps that can be used to report sightings of Immigration and Customs Enforcement (ICE) agents.

The apps, such as ICEBlock, work by alerting users when ICE agents are in the area. Trump administration officials have said that such apps could increase the risk of attacks on U.S. agents.

“Based on information we’ve received from law enforcement about the safety risks associated with ICEBlock, we have removed it and similar apps from the App Store,” Apple said in a statement.

Fox Business first reported ICEBlock’s removal on Oct. 2, quoting U.S. Attorney General Pam Bondi, who said in a statement to the news outlet, “We reached out to Apple today demanding they remove the ICEBlock app from their App Store—and Apple did so.”

“ICEBlock is designed to put ICE agents at risk just for doing their jobs, and violence against law enforcement is an intolerable red line that cannot be crossed,” Bondi added. “This Department of Justice will continue making every effort to protect our brave federal law enforcement officers, who risk their lives every day to keep Americans safe.”

The Epoch Times contacted ICEBlock for comment, but did not receive a response by the time of publication.

ICE Facility Shooting

The controversy over ICE agent tracking apps intensified after a fatal shooting on Sept. 24 at an ICE facility in Dallas, Texas.

An ICE office and transport vehicle were shot at by alleged shooter Joshua Jahn, killing one detainee and critically injuring two others, one of whom later died. No ICE agents were injured. Jahn later died of an apparent self-inflicted gunshot wound after the attack.

Jahn “used the ICE tracking apps,” according to Marcos Charles, acting executive associate director for ICE Enforcement and Removal Operations.

Charles said those developing such apps ought to understand the potential threats they pose to officers.

“It’s no different than giving a hitman the location of their intended target, and this is exactly what we saw happen in Dallas yesterday,” he said.

U.S. Attorney General Pam Bondi at the White House on Sept. 25, 2025. Kevin Lamarque/Reuters

ICEBlock

CNN reported on the ICEBlock app on June 30. During an appearance on conservative commentator Benny Johnson’s show, border czar Tom Homan criticized CNN for covering the app, calling it “disgusting.”

“I can’t believe we live in a world where the men and women in law enforcement are the bad guys,” he said. “It’s already a dangerous job.”

Homan suggested that CNN was complicit in putting federal law enforcement officers at risk.

“This is horrendous that a national media outlet would be out there trying to forecast law enforcement operations,” he said. “I think DOJ needs to look at this. They’re crossing that line. We need to send a strong message that we need to protect the law enforcement officers.”

On July 1, during a visit to a detention center for illegal immigrants in Ochopee, Florida, reporters asked President Donald Trump and Homeland Security Secretary Kristi Noem about Homan’s remarks that CNN should potentially face prosecution for covering the app.

“We’re working with the Department of Justice to see if we can prosecute them for that because what they’re doing is actively encouraging people to avoid law enforcement activities, operations, and we’re going to actually go after them and prosecute them,” Noem said. “What they’re doing, we believe, is illegal.”

When asked about Homan’s call for prosecuting CNN, Trump responded, “OK with me.”

Later that day, the Department of Homeland Security (DHS) accused the network of “contributing to our brave ICE officers now facing a 500 [percent] increase in assaults,” in a statement on X.

“@Sec_Noem has been clear: If you obstruct or assault our law enforcement, we will hunt you down and you will be prosecuted to the fullest extent of the law,” the DHS added.

U.S. Immigration and Customs Enforcement agents make an arrest during an early morning operation in Park Ridge, Ill., on Sept. 19, 2025. Erin Hooley/AP Photo

In response, CNN’s communication team defended its reporting on the ICEBlock app.

“This is an app that is publicly available to any iPhone user who wants to download it,” CNN’s communications team said in a July 1 statement on X. “There is nothing illegal about reporting the existence of this or any other app, nor does such reporting constitute promotion or other endorsement of the app by CNN.”

Tyler Durden Fri, 10/03/2025 - 10:20

Service Sector Surveys Show Slowdown In September Despite Rebound In Employment

Service Sector Surveys Show Slowdown In September Despite Rebound In Employment

With the market desperate for any visibility into the economy - due to data being cutoff during the shutdown - this morning's soft survey data on the services sector could have a larger impact on stocks and bonds than normal.

With 'hard' data surging higher, S&P Global's US Services PMI rose from 53.9 preliminary to 54.2 final in September (but that is down from the 54.5 final print for August). The ISM Services PMI also fell MoM from 52.0 to 50.0 (worse than the 51.7 expected) - that is the weakest since May...

Source: Bloomberg

Under the hood of the ISM survey we saw prices sticky at highs, employment weak (but a small improvement) and orders slowdown...

Source: Bloomberg

The S&P Global US Composite PMI recorded 53.9 in September. That was down from 54.6 in August and represented the slowest growth for three months.

Both sectors covered by the survey recorded weaker output expansions in line with slower gains in new business. Employment meanwhile barely rose, but confidence in the outlook strengthened noticeably. Cost pressures remained elevated, although inflation softened to a five-month low. A similar trend was seen for output charges.

“Service sector growth softened slightly in September but remained strong enough to round off an impressive performance over the third quarter a whole," according to Chris Williamson, Chief Business Economist at S&P Global Market Intelligence

"Combined with sustained growth in the manufacturing sector, the expansion of service sector activity is indicative of robust third quarter annualized GDP growth of around 2.5%."

The recessions shows no signs of appearing:

Growth is being fueled principally by rising financial services and tech sector activity, though we are also seeing more signs of improving demand for consumer-facing services such as leisure and recreation, likely linked in part to lower interest rates.

Lower borrowing costs have also fed through to a broadbased improvement in business optimism about the outlook for the next 12 months.

But jobs remain a worry:

“Disappointingly, the improvement in business optimism failed to spur more jobs growth, with hiring almost stalling in a sign of further labor market malaise as companies often focused on running more efficiently amid uncertain trading conditions.

As do (tariff-driven) price hikes...

“A further ongoing source of concern from the surveys are heightened cost pressures which survey respondents have attributed to tariffs. Input costs rose sharply again in September as import levies were seen to have again fed through from goods to services.

However, rates charged for services rose at the slowest rate for five months in a welcome sign that some of these tariff price pressures in supply chains are starting to moderate.”

So choose your own adventure - employment data remains in contraction but did improve modestly. The message overall appears to be that there remains 'less' firing, but even less hiring.

Tyler Durden Fri, 10/03/2025 - 10:08

Fire At U.S. West Coast's Most Important Refinery Contained 

Fire At U.S. West Coast's Most Important Refinery Contained 

A massive fire erupted overnight at one of the largest and most critical refineries on the U.S. West Coast, which supplies 20% of Southern California’s motor vehicle fuels and 40% of its jet fuel.

On Thursday night, Chevron’s El Segundo refinery suffered an explosion, though official statements on what sparked the fire remain limited. Local media reported early Friday that the blaze had been contained.

Here’s why Chevron’s El Segundo refinery is so critical to the region:

  • Capacity & Output: Processes around 290,000 barrels per day. It supplies about 20% of all motor vehicle fuels and 40% of the jet fuel consumed in Southern California.

  • Importance: Its proximity to LAX makes it a vital hub for jet fuel supply, and its scale makes it critical for gasoline and diesel distribution across the region.

Early indications from analysts familiar with the refinery suggested to Reuters that the fire would have a limited impact on the broader oil market, but could lead to a rise in jet fuel prices. 

The refinery’s total storage capacity is about 12.5 million barrels, held in a massive on-site tank farm.

As the smoke clears, the question is what disruptions will materialize - something that will likely become clearer later today.

Tyler Durden Fri, 10/03/2025 - 07:40

Trump Admin Pushing For More AI, Energy, & Pharma Corporate Deals Ahead of Midterms

Trump Admin Pushing For More AI, Energy, & Pharma Corporate Deals Ahead of Midterms

As part of America's Industrial Policy transformation, Thetrump administration is pressing companies across nearly 30 industries to strike deals that advance national and economic security goals, Reuters reported.

Officials are offering tariff relief, revenue guarantees, and even government equity stakes in exchange for concessions. The rapid pace of negotiations is aimed at securing political wins for President Donald Trump before the 2026 midterm elections, the sources said. Stocks like USA Rare Earth (USAR), Lithium Corporation (LTUM), Centrus (LEU) and other appear to be moving higher mid-day Thursday on the news and speculation of which companies could be targeted.

Commerce Secretary Howard Lutnick has emerged as the administration’s lead dealmaker, overseeing government stakes in Intel and Nippon Steel’s purchase of U.S. Steel. “If we're going to give you the money, we want a piece of the action,” Lutnick said in August. He is building out a Wall Street-heavy team under a new U.S. Investment Accelerator, seeded in part with $550 billion from Japan as part of its trade commitments.

The International Development Finance Corporation, originally tasked with overseas projects, is also central to the strategy. A June proposal before Congress would expand its mandate and increase its firepower to $250 billion, creating an equity fund to support critical supply chains, energy, minerals, and infrastructure.

Reuters reports that the administration’s outreach spans semiconductors, AI, shipbuilding, critical minerals, energy, and pharmaceuticals. On Tuesday, Trump announced a White House deal with Pfizer to cut drug prices in exchange for tariff relief, declaring: “The United States is done subsidizing healthcare of the rest of the world.”

Companies are learning the optics are as important as the agreements. Eli Lilly was pressed by the administration after announcing new U.S. plants without including Trump. “As an American company, Lilly is committed to expanding manufacturing capacity in the U.S.,” a spokesperson said. Pfizer and AstraZeneca declined comment.

Some executives view the strategy as a chance to tap government support, while others fear strings attached. One minerals executive said industry peers worry about being told: “We need 10% of your company.” Lawyers caution that deals could unravel if the next administration reverses course.

Just today speculation about who may be next under the Trump admin's spotlight sent microcap US Lithium miner Lithium Corp soaring as much as 500%.

Supporters - and even some critics - say the approach is pragmatic, aiming to de-risk vital sectors, ensure taxpayer returns, and bring jobs back to the U.S. “They want to see projects that are credible and where there are viable partnerships,” said Mark Jensen, CEO of ReElement Technologies, after meeting officials on rare earth supply chains.

In his latest report, JPM's Michael Cembalest, hardly a fan of the Trump admin, discussed how the recent purchases of stakes in companies like Intel is actually a good idea, to wt:

Bottom line: it’s a really mercantile world out there. While the US has a stellar track record in creating new companies compared to Europe (see bubble chart), the rest of the world often provides a lot more in the way of tax, loan, grant and other subsidies to its manufacturing industries than the US4F5. In China, the world’s most mercantile country, such subsidies can reach 15%-35% of industry profits. Providing a Federal government lifeline to Intel may have been the least bad option in the world illustrated below

More in the full JPM note available to pro subs.

Tyler Durden Fri, 10/03/2025 - 07:15

California Mask Ban Puts Federal Agents, Families On Edge

California Mask Ban Puts Federal Agents, Families On Edge

Authored by Brad Jones via The Epoch Times (emphasis ours),

A new California law banning federal law enforcement officers from wearing masks while on duty has left agents and their families fearing for their safety.

LAPD officers prepare to confront immigration protesters in Los Angeles, Calif., on June 8, 2025. John Fredricks/The Epoch Times

California Gov. Gavin Newsom signed legislation into law on Sept. 20 that makes it a misdemeanor crime for local and federal law enforcement officers to wear face coverings on the job. The law takes effect Jan. 1, 2026.

The legislation, Newsom said, is about saying “enough” to federal agents, including Immigration and Customs Enforcement and Border Patrol agents.

Unmask,” he said. “What are you afraid of?”

U.S. Attorney Bill Essayli has told federal law enforcement to ignore California’s law.

Federal agents have been wearing masks to protect their identities because they and their families fear being doxxed by activists.

Doxxing a federal agent by posting their personal information on social media or other channels is a felony.

The wife of a Border Patrol agent in California called the state law “disheartening.”

“It’s already a high-risk, dangerous job,” she said, speaking to The Epoch Times on the condition of anonymity for fear of retaliation.

I agree with the [Trump] administration that these agents should be protected,” she said.

She said agents are labeled as Nazis and their children are bullied at school.

“Being called a Nazi is heartbreaking,” she said. “It’s not true.”

Children either “go home thinking their parent is this horrible person,” or they know it’s not true but are afraid to say anything about it at school, she said.

Meanwhile, teachers and school board officials calling for the abolishment of ICE and Border Patrol on social media aren’t helping to diffuse the situation, she said.

Protesters should stop blaming agents for doing their jobs and take their grievances to the politicians who create the policies, the wife said.

“This is a policy issue. It’s not an agent issue,” she said. “They’re making it personal, and it’s not personal.

“We see how groups like Antifa or protesters are making sure that they get pictures or videos and then they’re posting them online,” she said.

“We … have to protect our children first … and living like this right now, where our own governor is against us, is very scary. It’s frightening.”

A masked protester wearing all black stands out from the colorful crowd at the No Kings protest at Los Angeles City Hall on June 14, 2025. Brad Jones/The Epoch Times

Earlier in September, Newsom downplayed concerns about doxxing, saying such claims are unfounded and unproven, and that the Department of Homeland Security (DHS) hasn’t provided the data to substantiate the alleged increase in violence against federal agents.

All they have provided is misinformation and misdirection,” Newsom said.

In July, a DHS memo said assaults on federal agents were up 830 percent from last year. Two months later, DHS reported a 1,000 percent increase in assaults.

Agents have been ambushed, shot at, and attacked with rocks, glass bottles, and other objects.

In Portland, an agitator allegedly hurled an incendiary device at officers during a demonstration. In Southern California, an agent serving a criminal warrant at a marijuana grow site was sent to the hospital for stitches after being attacked by protesters. And in late September, a deadly shooting attack at a Dallas ICE facility was carried out by a gunman who engraved “Anti-ICE” on bullet casings.

California law allows protesters to wear face masks, although California Code, Section 185 makes it illegal to wear a mask to avoid being identified while violating the law.

On Sept. 26, a federal grand jury indicted three women—two from Southern California and one from Colorado—for following an ICE agent home, livestreaming their pursuit, and then posting the agent’s home address on Instagram.

The accused—Cynthia Raygoza, 37, of Riverside; Sandra Carmona Samane, 25, of Panorama City; and Ashleigh Brown, 38, of Aurora, Colorado, face a maximum sentence of five years in federal prison if convicted of conspiracy and publicly disclosing the personal information of a federal agent.

On Sept. 20, before signing the masking bill into law, Newsom accused the Trump administration of using “secret police” tactics and sending “masked men” to “terrorize” immigrant communities.

The impact of these policies all across this city, our state, and nation, are terrifying. It’s like a dystopian sci-fi movie—unmarked cars, people in masks, people quite literally disappearing, no due process, no rights,” he said.

“Immigrants have rights, and we have the right to stand up and push back, and that’s what we’re doing.”

Manny Bayon, National Border Patrol Council union president in San Diego, told The Epoch Times that doxxing has been a real safety threat for agents and their families.

“How do you delete from social media? You don’t,” he said. “We’ve had incidents where they’ve identified an agent, they’ve identified a wife, they’ve identified where the kids go to school—that kind of thing. So that’s concerning.”

Federal agents with US Customs and Border Patrol (CBP) ride on an armored vehicle driving slowly down Wilshire Boulevard in Los Angeles, Calif., on July 7, 2025. Patrick T. Fallon/AFP

White House border czar Tom Homan said in June that he is living separately from his family due to death threats.

“The death threats against me and my family are outrageous,” he told Fox News.

“I don’t see my family very much; my wife’s living separately from me right now … mostly because of the death threats.”

There is even less security for rank-and-file agents, Bayon said.

When doxxing is reported, it is documented, and credible threats are passed up the chain of command.

“Then we take precautionary measures for the family,” he said.

Agents Told to Ignore Law

U.S. Attorney Bill Essayli sent a memo to all federal law enforcement agency heads in the Central District of California on Sept. 26 telling them to ignore the state’s masking law.

He posted the two-page memo on X, stating Newsom is “confused” about his role under the U.S. Constitution.

He oversees California, not federal agencies. He should review the Supremacy Clause,” Essayli wrote.

“California’s law to ‘unmask’ federal agents is unconstitutional, as the state lacks jurisdiction to interfere with federal law enforcement.

“I have directed federal agencies to disregard this state law and adhere to federal law and agency policies.”

Essayli wrote in the memo that Newsom has “made clear” the new law is “targeting federal law enforcement officers who wear masks during immigration enforcement operations in order to protect their safety and their families’ safety.”

The governor’s office did not provide a comment in response to an inquiry about Essayli’s memo, but said Newsom’s earlier statements “still stand.”

Jack Philips contributed to this report.

Tyler Durden Fri, 10/03/2025 - 06:30

Putin Blasts French 'Piracy' After 'Russia-Linked' Tanker Boarded, Captain Arrested

Putin Blasts French 'Piracy' After 'Russia-Linked' Tanker Boarded, Captain Arrested

"The tanker was seized in neutral waters without any justification, and they were apparently looking for some kind of military cargo, drones, or something else," Putin said Thursday at the Valdai Discussion Club meeting in Sochi, condemning the French takeover of an oil tanker suspected of being part of Russia's so-called "shadow fleet" which seeks to evade Western energy sanctions as an act of "piracy".

"There’s nothing there, there never was, and there can’t be anything," Putin asserted of the boarding action which took place earlier this week. The tanker was under the flag of a third country and the crew is international, Putin described, adding he doesn’t know "how much it’s related to Russia."

AFP via Getty Images

French authorities revealed details for the first time on Thursday, confirming that they arrested the captain, a Chinese national. He's accused of disobeying orders of the French navy.

Another crew member, the First Officer, was also arrested, as Reuters details of French statements:

French police have arrested the captain and first officer of a sanctioned tanker suspected of operating for Russia’s "shadow fleet," authorities said on Thursday, after the navy boarded the vessel, which may have been involved in recent drone incidents around Denmark.

The vessel, the Boracay, was approximately 50 nautical miles south of Copenhagen on September 22 when drone activity forced the closure of the city’s airport around 1830 GMT, according to data from MarineTraffic.

It was also observed heading south along Denmark’s western coast on the evening of September 24 when drones were reported flying north of Esbjerg and near several nearby airports.

The tanker appeared on on an EU sanctions list for transporting Russian oil, but the whole Denmark drone incursion linkage aspect to it seems highly coincidental, and a big stretch, assuming there's no further evidence and that no actual drones were found upon searching the vessel

French authorities would be presenting any such evidence very quickly, but instead they just issued ambiguous statements remotely suggesting the linkage to the Denmark drone sightings.

French authorities say that the Boracay has a history of changing names and flags, and is currently flying under Benin’s registry. It's believed this is part of intentional sanctions-dodging. The Boracay is now anchored off France's coast near Saint-Nazaire, south of Brest.

It had initially set sail from the Russian port of Primorsk outside Saint Petersburg on September 20 and had actually been at one point detained Estonian authorities earlier this year for sailing without a valid country flag. International law allows countries to intercept such vessels which are believed to be stateless, typically if there is suspicion of wrong-doing like smuggling.

Tyler Durden Fri, 10/03/2025 - 05:45

Germany's Rust Belt Future: Deutsche Bank's Debt-Fueled Mirage

Germany's Rust Belt Future: Deutsche Bank's Debt-Fueled Mirage

Submitted by Thomas Kolbe

Deutsche Bank sees the German economy on the verge of a turnaround. The debt-financed stimulus blaze is supposed to deliver it. Meanwhile, the collapse of the real economy is accelerating.

Storm clouds are gathering over Germany’s economy. 2025 will bring a new insolvency record – that much can already be predicted with certainty. 

More than 22,000 companies are expected to file for bankruptcy, with at least 160,000 jobs lost according to the Institute for Labor Market Research (IAB). Given the accelerated wave of layoffs in recent months, the number could easily surpass 250,000.

Just days ago, the machinery sector – one of the most reliable leading indicators of the industrial heart of Germany – reported an expected 5% decline this year. Industry and construction are now producing 15–20% below their 2018 peak output. An economic collapse – no more, no less.

Deutsche Bank’s Miracle Forecast

At the very moment Baden-Württemberg reported a 0.8% contraction in the first half of 2025, Deutsche Bank forecasts 0.5% growth for the full year – and even a miraculous 2% boom in 2026. The bank’s economists actually speak of a “turning point.” Rising real incomes and, of course, the fat stimulus impulse from Chancellor Merz’s debt package are supposed to deliver the long-awaited breakout for Germany’s anemic economy. 

But these credit-fueled packages are well-known: they create short-term statistical flares, siphon resources from the free market, and make life harder for the real economy – the private sector that actually produces goods and services people demand. Politicians, meanwhile, can declare “jobs created” by including bureaucracy costs in GDP.

For politicians this is a badge of honor, whose planning horizon rarely extends beyond the next election. Serious economists know this statistical fraud and its disastrous consequences – which is why they are excluded from the public debate.

High on Credit

Deutsche Bank’s optimism may be a product of the gigantic debt packages unleashed by Berlin, bolstered by the ever-expanding EU subsidy machine in Brussels. Hundreds of billions in guarantees and direct grants flow into the green “transformation” – and banks are at the table. Deutsche Bank, which reported €5.3 billion in pretax profit in 2024, has long been a major player in the “green business.”

Last year alone it brokered €93 billion in “sustainable finance and investments” – up 50% year-on-year. That shows two things: how deeply the big banks are now embedded in the state-guaranteed subsidy and regulatory architecture, and how predictable profits are in this sector – with the taxpayer ultimately carrying the risk.

Thus, Deutsche Bank’s “forecasts” read less like neutral analysis and more like an extension of the political narrative: this is not organic growth, but a debt-financed flash in the pan, distributed through banks. It fills the pockets of select interest groups – but not the shelves of the real economy.

Subsidy Rain, EU-Style

And those interest groups can expect a true deluge. Berlin plans to flood channels with up to €500 billion through its “Infrastructure and Climate Neutrality” special fund. In Brussels, Commission President von der Leyen unveiled her own seven-year plan – €2 trillion, with more than a third earmarked for “climate, energy and resilience.”

Plenty of grease for the EU’s redistribution machine. Failures in hydrogen projects, green steel, and other subsidy ruins will be whitewashed with fresh credit – if necessary, straight from the ECB’s printing press. This is EU economics: industries kept artificially alive, financed on credit, detached from real demand.

War Economy Keeps the Pump Running

The EU’s new focus on building a joint “war economy” fits the same mold. In the illusion that prosperity can be printed, even the specter of Putin’s invasion is used as a pretext to crank the debt pump harder. Germany’s 2025 defense budget will hit €86.5 billion, €15 billion more than last year. For 2026, €108.2 billion is already penciled in, while the EU’s 2028–2034 budget raises defense and space spending to €131 billion.

It’s all financial capital guaranteeing excess returns for insiders, while the real economy is drained. Resources are tied up in subsidy networks, skilled labor is diverted, and illusions of security are bought on credit – with state guarantees, unattainable in a free market.

Business As Usual

Banks have no ethical or accounting scruples about funneling funds where the state directs – it’s business, stupid. The fat cut from these funds guarantees them returns they could never achieve in open competition. For the economy at large, it is poison: scarce resources are tied up, skilled workers siphoned away, productivity stagnates, and the industrial core has collapsed by up to 20% since 2019.

We are witnessing an unprecedented level of state intervention in peacetime, unmatched since WWII. Given the scale of the subsidy machine, the silence of the economic elites – call them cadres – is no surprise. They know: the real problems of the German economy will not be addressed, ensuring the flow of subsidies continues.

The self-inflicted energy crisis, the failed green transition, the trail of destruction and industrial ruins – Germany is on the path to becoming Europe’s Rust Belt. Even a return to reason and market economy would not heal this blow for a very long time.

* * * 

About the author: Thomas Kolbe, a German graduate economist, has worked as a journalist and media producer for clients from various industries and business associations. As a publicist, he focuses on economic processes and observes geopolitical events from the perspective of the capital markets. His publications follow a philosophy that focuses on the individual and their right to self-determination.

Tyler Durden Fri, 10/03/2025 - 05:00

Hungary's Orban From Copenhagen Summit: "The EU Has Decided To Go To War"

Hungary's Orban From Copenhagen Summit: "The EU Has Decided To Go To War"

Hungarian Prime Minister Viktor Orbán is newly warning that EU leaders are preparing for war with Russia, soon after he participated in the European Political Community meeting in Copenhagen.

He has denounced this as "horrifying" that "the EU has decided to go to war" and that at Wednesday's informal EU summit, leaders pushed a war strategy on how to defeat the Russians.

Getty Images

This reportedly features plans for a 'drone shield' to counter Russian incursions into member states’ airspaces, as well as long-planned efforts to confiscate seized Russian assets held in Europe. Conformity is being demanded of all member states.

"The pressure is great. So I will suggest to the Fidesz presidency that we start a signature campaign in Hungary against the EU's war plans. Because we need all our strength to stay out of this war," Orbán said.

He summarized the situation on X in an English-language post:

"Copenhagen, day two. The situation is serious. Outright pro-war proposals are on the table. They want to hand over EU funds to Ukraine. They are trying to accelerate Ukraine’s accession with all kinds of legal tricks. They want to finance arms deliveries. I will stand firmly by the Hungarian position." 

The Hungarian prime minister additionally argued that full EU membership for Ukraine is a terrible and dangerous idea as it means "the war would enter the European Union". Instead, he suggested an arrangement which stops short at a strategic partnership as a "better idea".

Further in a fresh interview Orban highlighted that Europe is signing on to a climate of "endless war"...

Orban's foreign minister, Péter Szijjártó, also sounded off, saying on X that "Brussels is preparing for war, and they want Europeans, including Hungarians, to pay the price. As part of this war preparation, the EU Commission has drafted a 7-year budget that is more about Ukraine than about the European Union."

"This is practically a Ukraine budget," he then emphasized. "Instead of tackling Europe’s real challenges, such as restoring competitiveness, ensuring energy security, and rebuilding economic growth, they focus on financing the Ukrainian army and the Ukrainian state."

More signs of hawkish voices dominating the discussion...

Alternately, stepping back in time a bit...

Meanwhile, European Council President Antonio Costa described at a press briefing, "Leaders broadly supported initial priority flagship projects that will strengthen Europe's security, including the European drone wall and the Eastern Flank Watch." A lot of noise has been made over last month's alleged several incursions of Russian aircraft, mostly drones, in European airspace.

Tyler Durden Fri, 10/03/2025 - 04:15

German Police Probe Left Party Youth Over 'Target' Stickers On AfD Leader's Head

German Police Probe Left Party Youth Over 'Target' Stickers On AfD Leader's Head

Via Remix News,

A sticker featuring a target over a photo of Alternative for Germany (AfD) party co-leader, Alice Weidel, is allegedly being distributed by the Left Party Youth in Hannover, Germany. The sticker, which also features the text, “Aim Here,” has sparked an investigation by the German police.

This sticker is being distributed by the youth organization of the Left in Hannover. This is not just a call to violence, this is an incitement to attack in the spirit of the left-terrorist Antifa. The radical Left should finally have the plug pulled. Criminal complaint is being filed!” wrote Thorsten Weiß, the deputy chairman of the AfD parliamentary group in Berlin.

Other X users have brought light to the troubling sticker, which appears to be openly calling for the assassination of Weidel.

The official X account of the Lower Saxony State Criminal Police Office indicated that an open investigation is underway.

“Thank you for the tip! We have forwarded it to the relevant department,” the police account wrote on X.

The police were responding to a post pointing to the dangerous image.

“Mrs. Dr.@Alice_Weidel in the crosshairs of the youth organization of the party DIE LINKE. The question is, what are the State Security and the @BfV_Bund doing? Isn’t that an incitement to a crime (murder)?” wrote X user J. Eckleben.

Notably, this is not the first post from the Left Youth in Hanover that has been condemned as of late. The group wrote a message after the assassination of Charlie Kirk that celebrated Kirk’s death in graphic terms.

“Bloody and right-wing politics lead to bloody bullets,” the group wrote in an image, adding: “With a targeted shot to Kirk’s neck, the end of his right-wing inhumane and exploitative policies was sealed.”

Notably, the first post on this topic from Remix News was censored on X, potentially at the request of German or European authorities.

The Left Party Youth message of hate against Kirk was widely condemned across the political spectrum, including from conservative youth from the Christian Democrat Union (CDU), known as Young Union (JU).

“Immediate monitoring of the Hanover Left Youth the Federal Office for the Protection of the Constitution, due to extremist activities that glorify violence and undermine the rule of law. Immediate funding freeze for the Left Youth Hanover, so that state funds do not benefit organizations that publicly glorify violence and act against democracy,” wrote the JU.

Apparently, the criticism did not phase the Left Party Youth in Hanover, with the group issuing an arguably even more explicit image of Weidel.

The federal Left Party has not yet commented on the image.

Read more here...

Tyler Durden Fri, 10/03/2025 - 03:30

Danish PM Alleges Russian 'Hybrid' Drone War 'Only The Beginning' 

Danish PM Alleges Russian 'Hybrid' Drone War 'Only The Beginning' 

Some of the more tiny NATO countries are pretending to carry the biggest stick, at least judging by their outspoken jingoistic rhetoric of late. Small 'Eastern flank' countries like Estonia and Lithuania have long exhibited this loud anti-Moscow rhetoric, but Denmark is increasingly joining in.

Danish prime minister Mette Frederiksen in a fresh interview given to Financial Times has declared NATO must step up its response to Russia, warning that recent drone incursions are "only the beginning" of an alleged 'hybrid war' and sabotage campaign aimed at dividing Europe.

"We need to be very open about [the fact] that it probably is only the beginning," she told FT. "We need all Europeans to understand what is at stake and what’s going on. When there are drones or cyber attacks, the idea is to divide us."

Source: Google

Over the last couple weeks Danish authorities have claimed that hundreds of mystery drones have at various times over that span sought to disrupt commercial and military aviation over the small northern European country. Top officials have linked these to Russian operations, though without presenting any evidence.

The FT interview itself admits there's no evident Russian linkage to the drone phenomenon of the past month, but still Federiksen and other European leaders are pushing for more defense spending and readiness:

Copenhagen has not established who was behind its drone sightings, but Frederiksen has said Europe’s "primary enemy" is Russia. Increased European spending on anti-drone and cyber defense equipment alone would not suffice, she warned.

"The idea of a hybrid war is to threaten us, to divide us, to destabilize us. To use drones one day, cyber attacks the next day, sabotage on the third day. So this will not end only by [boosting] capabilities," she said.

The incidents in Europe, which have largely been blamed on Russia as an act of "hybrid warfare", remain largely unexplained. However, they are similar to the numerous drone sightings over protected sites in the Northeastern US last year. 

That prior event inspired mass public concerns - and serves as reminder of the potential for hype and hysteria (without evidence for a foreign power's involvement) - after officials suggested the car-sized drones might be a test of American security by a foreign enemy like Iran.  

Meanwhile, somebody is as expected seeking to take full advantage of this current climate of fear in Europe...

"We are ready to ramp up the production of drones, electronic warfare systems, and other critical components, including through joint production format and with the help of the SAFE instrument," Zelensky stated. "All of this can protect all of us – the whole of Europe."

Russian President Vladimir Putin reiterated on Thursday that it is "impossible to believe that Russia will attack NATO."

Tyler Durden Fri, 10/03/2025 - 02:45

Erdogan Threatens Operation Against Syrian Kurds If 'Integration' With Damascus Fails

Erdogan Threatens Operation Against Syrian Kurds If 'Integration' With Damascus Fails

Via The Cradle

President Recep Tayyip Erdogan stated Wednesday that Turkey will not allow Syria's fragmentation if a deal to integrate the Kurdish-led Syrian Democratic Forces (SDF) into the Syrian military led by self-appointed President Ahmad al-Sharaa collapses.

“We have engaged all channels of diplomacy, both to preserve Syria's territorial integrity and prevent a terrorist structure from forming across our borders. We continue to use these channels with patience, sincerity, and common sense,” Erdogan explained while giving a speech to mark the Turkish parliament's re-opening. "If diplomatic initiatives are left unanswered, Turkey policy and position are clear. Turkey will not allow a deja vu to take place in Syria," he added.

AFP/Getty Images

The US-backed SDF controls large swathes of oil-rich territory in north and east Syria, which it administers under the name of the Autonomous Administration of North and East Syria (AANES).

The US-backed SDF was established under US guidance in 2015. It is an offshoot of the Kurdistan Workers Party (PKK), which Ankara considers a terrorist organization.

Erdogan has threatened to take military action against the SDF if it does not integrate its forces into the Syrian state, based on an agreement reached with President Sharaa, the former Al-Qaeda leader, on March 10.

Turkey occupies large areas of land in northern Syria and has deployed forces against the SDF in the past. Erdogan claims Ankara needs a "buffer zone" to protect against PKK attacks. 

Earlier this week, Syria's government asked factions within the military to prepare for operations against the SDF, the Syrian Observatory for Human Rights (SOHR) reported.

According to SOHR, Turkish-aligned factions in the Syrian army were asked to "prepare for operations" against the SDF in Deir Hafer and the Tishreen Dam area. SOHR added that officials in Damascus have requested that a campaign against the SDF not take more than a week. 

If launched, the operation would aim to pressure the Kurdish–dominated group into accepting the agreement signed with Damascus in the wake of the Syrian government's large-scale massacre of Alawite civilians on the country's coast.

The SDF leadership is worried the Kurds could be subjected to similar massacres if they give up their weapons and allow their fighters to integrate into the Syrian military as individuals rather than as units under Kurdish command.

Recent days have seen a significant buildup of both Syrian army forces and SDF troops on the front lines in eastern Aleppo. On Monday, SOHR reported escalating clashes, as more than 10 artillery shells struck areas around the Tishreen Dam following exchanges between the SDF and Turkish-backed Syrian factions. 

Earlier in the day, SOHR sources confirmed that orders were issued to Syrian government forces to deploy “show-of-force” units with heavy vehicles, tanks, and artillery to the Deir Hafer frontline in anticipation of possible SDF operations.  There are also reports that the SDF has stationed kamikaze drones, rocket launchers, and long-range artillery near the local sugar factory.

The Turkish army, which has operated against the SDF in the past, may be gearing up for a new campaign, Sharaa said earlier this month. Turkey "may act militarily if full integration is not achieved by December," Sharaa warned

In late May, Erdogan warned the SDF to "quit stalling" and integrate with the Syrian army. Turkey is currently training Syria's new extremist-dominated military. 

The National reported on August 17 that Damascus is assembling a force of 50,000 to capture Deir Ezzor and Raqqa from the SDF.

Tyler Durden Fri, 10/03/2025 - 02:00

Alberta Proposes New Oil Pipeline

Alberta Proposes New Oil Pipeline

By Irina Slav of OilPrice.com

Alberta has proposed to build a new oil pipeline to the British Columbia coast that could carry up to 1 million barrels daily of crude oil, to be exported to Asian markets.

The Calgary Herald reported the provincial government was ready to commit C$14 million to early planning for the project, with Premier Danielle Smith expressing hope the project could get federal approval as early as next month.

Opposition, however, has been swift. The Premier of British Columbia said that “The problem that we have is Smith continues to advance a project that is taxpayer-funded, has no private sector proponent, is not a real project and is incredibly alarming to British Columbians, especially First Nations along the coast,” as quoted by Global News.

Indeed, a representative of several coastal First Nations said they would not support a new pipeline project “now or ever,” according to a report by CBC News. “This is not something that we would ever support,” Marylin Slett told the publication.

“There is no project that ... we would ever support the lifting of that moratorium,” referring to a ban on oil tankers for northern British Columbia ports.

“I think coastal provinces have a special obligation to be generous and make sure we’re creating access to ports for all of our products,” Alberta’s Smith said.

The Alberta government has been pushing for new oil pipeline capacity to expand Canadian oil’s access to international markets for a while now, but British Columbia’s government has been against it from the start.

“The only way that pipeline across the north gets built is if the government of Alberta and the federal government pony up tens of billions of tax dollars to build it,” B.C. Premier David Eby said in September, as quoted by Bloomberg, estimating the potential price tag of such an infrastructure project at some $C$60 billion, equal to around $43 billion.

Tyler Durden Thu, 10/02/2025 - 21:25

FICO Spikes On Plan To Go Direct To Lenders, Upends Experian, Equifax, TransUnion

FICO Spikes On Plan To Go Direct To Lenders, Upends Experian, Equifax, TransUnion

Fair Isaac shares surged today after announcing a plan that bypasses the big three credit bureaus - Experian, Equifax, and TransUnion - in providing its credit scores directly to mortgage lenders.

Until now, mortgage resellers had to purchase FICO scores through the bureaus, who added markups of about $10 per score, according to the Wall Street Journal. FICO will now sell directly, offering lenders either a flat $10 fee or $4.95 per score plus a $33 closing fee. The company said the new closing charge replaces reissue fees but didn’t disclose the prior cost.

WSJ writes that the change threatens a long-standing revenue stream for the bureaus. “We believe this change adds substantial uncertainty to a sector that has already been undergoing heightened volatility amid a series of potential regulatory changes,” wrote UBS analyst Kevin McVeigh.

The move follows pressure from regulators to reduce costs in an unaffordable housing market. Earlier this year, the FHFA authorized lenders to use VantageScore—developed by the three bureaus—for government-backed loans, challenging FICO’s dominance.

FHFA Director Bill Pulte called FICO’s plan a “first step” and urged bureaus to “take similar creative and constructive actions” while pressing VantageScore to ensure “they are competitive, in every way, including but not limited to costs.”

Industry reactions were cautiously positive. TD Cowen analysts called the change “politically positive.” Mortgage Bankers Association chief Bob Broeksmit said it was a “step in the right direction” but warned it “remains to be seen” whether it will meaningfully lower costs.

Tyler Durden Thu, 10/02/2025 - 21:00

Top FDA Vaccine Official Says US Vaccine Schedule May Be Suboptimal

Top FDA Vaccine Official Says US Vaccine Schedule May Be Suboptimal

Authored by Zachary Stieber via The Epoch Times (emphasis ours),

The current vaccine schedule in the United States may not be optimal, the Food and Drug Administration’s top vaccine official said in a new interview.

Dr. Vinay Prasad, director of the Food and Drug Administration’s Center for Biologics Evaluation and Research, in an undated file photograph. FDA via The Epoch Times

I think the scientific establishment blindly defending the U.S. vaccine schedule is incorrect,” Dr. Vinay Prasad, director of the FDA’s Center for Biologics Evaluation and Research, told the Free Press in an interview published Sept. 29. “It is possible that our schedule is suboptimal.”

The FDA is part of the Department of Health and Human Services (HHS). Another HHS division, the Centers for Disease Control and Prevention, sets the immunization schedule, which contains more vaccines and doses than many other countries, such as Denmark.

I’ve seen some pundits claim that Denmark can get away with a different schedule because they’re a smaller country,” Prasad said. “That’s illogical. Denmark is connected to all of Europe. It would be like arguing that Boston could have a different vaccine schedule than the rest of the Eastern Seaboard if we made it its own nation.”

Susan Monarez, who headed the CDC until she was recently fired, told a congressional committee last month that HHS Secretary Robert F. Kennedy Jr. said during a private meeting that the vaccine schedule would be changing.

Monarez said she would only sign off on changes if she were presented with evidence backing them, and said she was not.

The childhood vaccine schedule has been vetted and validated through science and evidence,” Monarez said.

If children receive vaccines when recommended by the schedule, they receive multiple shots across multiple visits.

President Donald Trump in a Sept. 22 briefing said that parents should space out vaccines.

“I think the president has a deeper point about the evidence to support combination and concomitant administration. By background, combination vaccines combine two or more into a single vial or shot, while concomitant administration means administering two or more at the same visit. Historically, FDA has had stronger levels of evidence for combination than concomitant administration, but that is changing,” Prasad told the Free Press.

“We are planning new guidance to raise the bar for concomitant administration, and we have a paper now submitted in a medical journal.”

Measles, Hepatitis B Vaccines

Trump also proposed delaying the hepatitis B vaccine, which is currently on the immunization schedule at three doses in early childhood, or two doses for adolescents, and taking separate vaccines against measles, mumps, rubella, and chickenpox rather than combination vaccines.

Also recently, advisers to the CDC recommended the agency remove the measles, mumps, rubella, and chickenpox vaccine from the schedule for children younger than 4 years of age, emphasizing a different vaccine that targets measles, mumps, and rubella, due to an elevated risk of febrile seizures. Advisers also considered delaying the first dose of the hepatitis B vaccine regimen, but ultimately tabled the decision to explore whether to alter or remove the entire regimen. The CDC has not yet acted on the advice.

“I think the president is 100 percent correct that it is prudent to take the chickenpox shot separately,” Prasad said.

He said that Trump and the Advisory Committee on Immunization Practices (ACIP) were right to question whether hepatitis B shots should be administered to babies born to mothers who tested negative for hepatitis B, noting that some other countries do not give the vaccine to such children.

ACIP is also examining the cumulative impact of the vaccination schedule, advisers said in June.

Trump’s comments drew criticism from some, including the American Academy of Pediatrics.

Pediatricians know firsthand that children’s immune systems perform better after vaccination against serious, contagious diseases like polio, measles, whooping cough and hepatitis B. Spacing out or delaying vaccines means children will not have immunity against these diseases at times when they are most at risk,” the academy said in a statement.

Prasad said that Trump was offering personal advice and not trying to compel anyone to follow that advice. When asked whether Trump’s comments would drive vaccine hesitancy, Prasad said people are getting fewer vaccines due to the imposition of COVID-19 vaccine mandates during the pandemic.

“We will have more vaccine hesitancy for a generation. The president’s comments are not the driver of what we are seeing,” he said.

Prasad rejoined the FDA in August, several weeks after resigning. He had left the agency after some of his past comments were recirculated, including remarks about supporting Democrats.

“The FDA is steadfast in its commitment to rigorous, gold-standard science in the approval of vaccines, ensuring that every decision reflects the highest standards of safety and effectiveness. Science requires continual review and adaptation; when health recommendations become outdated or no longer align with the latest evidence, it is the responsibility of public health officials to make the necessary changes,” an HHS spokesperson told The Epoch Times in an email on Wednesday.

“Dr. Prasad’s comments underscore the open-mindedness that true gold-standard science demands, and that the health of our citizens depends upon. At this time, HHS and FDA cannot comment on potential future policy changes.”

*  *  *

Tyler Durden Thu, 10/02/2025 - 20:35

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