Important Takeaways:
- Strike on oil or nuclear sites could lead Tehran to take drastic measures for fear of seeming weak, but attack on weapons depots or military bases may not warrant further response
- Citing four Iranian officials, The New York Times reported that Supreme Leader Ayatollah Ali Khamenei ordered Iran’s armed forces to formulate numerous plans based on the potential outcome of an expected retaliatory attack by Israel, which has been weeks in the making. “Iran has ordered the armed forces to be prepared for war but also to try to avoid it,” the report said.
- The officials, two of whom belong to the Islamic Revolutionary Guard Corps, said that if Israel were to inflict significant damage on sensitive sites, such as oil and nuclear facilities, or if it were to target senior Iranian officials, Iran would without a doubt escalate further.
- In this instance, the sources said, Iran could fire a barrage of up to 1,000 ballistic missiles — a significant step up in comparison to the 200 it fired on October 1 — or even disrupt global energy supplies and international trade routes.
- However, if Jerusalem were to limit its response to striking weapons warehouses or military bases, Tehran may conclude that it is in its best interest to do nothing, bringing an end to the latest round of direct conflict between the two countries.
- Israel’s plans for retaliation were said to have been thrown off course recently after confidential US documents on the matter were leaked last Friday, revealing US observations of measures taken by the Israeli Air Force on October 15-16 in the lead-up to an attack.cn
- Amid reports that Israel had been forced to change tactics and delay its plans as a result of the leak, Army Radio quoted an unnamed Israeli official on Thursday who insisted that this was not the case.
- “There’s no connection between the leaking of the documents from the Pentagon and the choice of timing for the attack on Iran,” the official said.
- While several windows had been discussed, the official said that no final date had been set for Israel’s response and the decision would be made “according to operational opportunities.”
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Important Takeaways:
- As the war in Ukraine enters a critical period, the European Union has decided it must take responsibility for what it sees as a security threat in its own neighborhood, and it’s preparing to tackle some of the financial burden, perhaps even without the United States.
- The EU rarely moves ahead on international matters without the U.S., particularly involving major conflicts, but it hopes this decision will encourage others to come forward.
- EU envoys have been working this week on a proposal to provide Ukraine with a loan package worth up to 35 billion euros ($39 billion).
- “Crucially, this loan will flow straight into your national budget,” European Commission President Ursula von der Leyen told President Volodymyr Zelenskyy in Kyiv last week. “It will provide you with significant and much-needed fiscal space. You will decide how best to use the funds, giving you maximum flexibility to meet your needs.”
- Zelenskyy wants to buy weapons and bomb shelters and rebuild Ukraine’s shattered energy network as winter draws near.
- Most of the 27-nation EU fears a Putin victory would lead to deep uncertainty. Russia’s armed forces are depleted and currently incapable of another war, but the prospect of a future land grab in Estonia, Latvia, Lithuania or Poland remains.
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Important Takeaways:
- The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring temporary prosperity; both bring permanent ruin. But both are the refuge of political and economic opportunists.” Ernest Hemingway
- The United States federal debt has soared to $35.3 trillion. In less than a year, the federal government has increased its debt by $1.9 trillion. This occurred during years of record tax revenues and economic growth.
- If the current administration remains in power, the Treasury’s own estimates predict an additional $16 trillion increase in debt by 2034, without accounting for any recession or slowdown in tax receipts. According to the CBO, the Kamala Harris economic plan would add another $1.9 to $2,2 trillion to the national debt.
- The Harris campaign has not even bothered to discuss a plan to balance the budget. She just said that “efficiency” and the old fallacy of taxes to the rich would pay for the increase in spending—two things that have proven to do nothing to the ballooning debt and that do not even start to scratch the already unsustainable $2 trillion deficit.
- In a recent article, Claudia Sahm stated that you should not worry about debt. “Debt is neither inherently good nor bad. As such, the question is not what the right level of borrowing is, but rather what’s the economic return on the borrowing or the societal goals it advances.” She continues to say that “the government can easily service its debt because of its unlimited taxing authority and ability to issue more U.S. Treasury securities to repay maturing securities” (“The US debt is now $34 trillion. Don’t worry. Seriously”. January16, 2024). Now you must worry. A lot.
- It is true that debt is not inherently bad, but unproductive borrowing is. It is a massive transfer of wealth from the productive sector to the bloated bureaucratic state. Furthermore, the societal goals cannot be unlimited. The government must administer and not just add expenditures to previous expenditures, particularly when there is no realistic analysis of the success or failure of government programs. The idea that a particular government program is beneficial is not enough to add it to the budget without reducing other expenses. Not even a benign view of government spending as Sahm’s can justify that every government expenditure item today is essential.
- Furthermore, we must always understand that governments do not give money for free. They tax the productive sector and borrow, which means printing a currency that is constantly losing purchasing power. Therefore, the government is not advancing societal goals by borrowing without control; it is implementing a profoundly regressive policy that creates a dependent subclass and makes it increasingly difficult for the middle class to thrive.
- It is false that the government has “unlimited” taxing authority and the ability to issue more debt, i.e., print money. The government has economic, fiscal, and inflationary limits. Economic because constantly increasing taxation leads to stagnation and more debt; fiscal because expenditures are consolidated and annualized, while tax receipts are cyclical; and inflationary because the constant issuance of new currency, which is what happens when more debt is issued, leads to the loss of confidence in the currency and the erosion of its purchasing power. If what Sahm and Kelton state were true, the euro area and Japan would be examples of high growth and economic strength, but they are examples of stagnation, high debt, and rising social discontent.
- The government does not set taxes to fund its incessant spending habits. Taxes should be set according to the economic reality of an economy. The fallacy of taxes to the rich and corporations does not even address the ballooning deficit and erodes economic growth and productive investment.
- When someone tells you not to worry about record debt, you should be extremely concerned. When they say that the government has unlimited resources, they mean that you will pay by becoming poorer with more taxes, more inflation, lower growth, or all three at the same time.
- When they tell you that $35 trillion of debt is peanuts compared with $142 trillion of American wealth, they are saying that the government will be pleased to absorb the wealth of the economy. You will pay.
- When they tell you that tax cuts are the problem, it comes from the perspective that the private sector is an ATM at the disposal of governments
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Important Takeaways:
- Are you getting prepared? Right now, millions of Americans are stockpiling food and supplies in anticipation of what they believe is coming. People are on edge due to the approaching election, the rapidly escalating war in the Middle East, the alarming natural disasters that we have been witnessing all around the world, and the potential for another great global pandemic. In all my years, I have never seen more concern about the next 12 months as I am seeing at this moment. There is a growing consensus that major history changing events are about to happen, and there are lots and lots of people that want to be well prepared. In fact, Newsweek has reported that “doomsday prepping” has become a 2.46 billion dollar industry…
- If you really want to be well prepared, you should consider everything that you will need if there is no power and you can no longer get anything from the stores because supply chains have completely broken down.
- I have shared a list of 50 basic things that I believe that everyone should be stockpiling in a couple of my books, and today I would like to share that list with all of you…
- #1 A Conventional Generator And A Solar Generator
- #2 A Berkey Water Filter
- #3 A Rainwater Collection System If You Do Not Have A Natural Supply Of Water Near Your Home
- #4 A Large Emergency Medical Kit
- #5 Rice
- #6 Pasta
- #7 Canned Soup
- #8 Canned Vegetables
- #9 Canned Fruit
- #10 Canned Chicken
- #11 Jars Of Peanut Butter
- #12 Salt
- #13 Sugar
- #14 Powdered Milk
- #15 Bags Of Flour
- #16 Yeast
- #17 Lots Of Extra Coffee (If You Drink It)
- #18 Buckets Of Long-Term Storable Food
- #19 Lots Of Extra Vitamins
- #20 Lighters Or Matches
- #21 Candles
- #22 Flashlights Or Lanterns
- #23 Plenty Of Wood To Burn
- #24 Extra Blankets
- #25 Extra Sleeping Bags
- #26 Ammunition
- #27 Extra Fans If You Live In A Hot Climate
- #28 Hand Sanitizer
- #29 Toilet Paper
- #30 Extra Soap And Shampoo
- #31 Extra Toothpaste
- #32 Extra Razors
- #33 Bottles Of Bleach
- #34 A Battery-Powered Radio
- #35 Extra Batteries
- #36 Solar Chargers
- #37 Trash Bags
- #38 Tarps
- #39 A Pocket Knife
- #40 A Hammer
- #41 An Axe
- #42 A Shovel
- #43 Work Gloves
- #44 Lots Of Warm Socks
- #45 Seeds For A Garden
- #46 Canning Jars
- #47 Extra Supplies For Your Pets
- #48 A Substantial Emergency Supply Of Cash
- #49 Bibles For Every Member Of Your Family
- #50 A “Bug Out Bag” For Every Member Of Your Family
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Important Takeaways:
- In a video message, Hezbollah chief Hassan Nasrallah said, “In case an inclusive war is imposed on Lebanon, the resistance will fight without restraints, without rules, without limits.”
- The minute-long clip then shows footage of various sites in central Israel, along with their GPS coordinates.
- “Whoever thinks of war against us, will regret it,” the video ends.
- The White House official reportedly rejected Jerusalem’s demand that a diplomatic deal to end the conflict in the north be based on the implementation of U.N. Security Resolution 1701—which was adopted to end the Second Lebanon War in 2006 and calls for a demilitarized zone from the Blue Line to the Litani River some 18 miles to the north.
- Instead, he said it should include a range of options, including moving Hezbollah six miles from the border. He stressed that the United States was concerned about further escalation and called for calm on both sides.
- Iran-backed Hezbollah has attacked northern Israel nearly every day since joining the war in support of Hamas on Oct. 8, killing more than 20 people and causing widespread damage. Tens of thousands of Israeli civilians remain internally displaced due to the ongoing violence.
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Important Takeaways:
- “We are prepared for a very intense operation in the north. One way or another, we will restore security to the north,” Netanyahu said during a visit to the border area.
- Almost eight months of exchanges between Israel and the Iran-backed movement, a Hamas ally, have intensified over the past week, with Israel striking deeper into Lebanese territory.
- Netanyahu’s far-right coalition partners National Security Minister Itamar Ben Gvir and Finance Minister Bezalel Smotrich have both called in recent days for urgent action to restore security to northern Israel.
- “They burn us here; all Hezbollah strongholds should also burn and be destroyed. WAR!” Ben Gvir said
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Important Takeaways:
- Dwindling number of D-Day veterans mark anniversary with plea to recall WWII lessons in today’s wars
- The war in Ukraine shadowed the ceremonies, a grim modern-day example of lives and cities that are again suffering through war in Europe.
- “There are things worth fighting for,” said Walter Stitt, who fought in tanks and turns 100 in July, as he visited Omaha Beach this week. “Although I wish there was another way to do it than to try to kill each other. We’ll learn one of these days, but I won’t be around for that.”
- Ukrainian President Volodymyr Zelenskyy’s presence at the D-Day commemorations with world leaders who are supporting Ukraine fused World War II’s awful past with the fraught present.
- Feted everywhere they go in wheelchairs and walking with canes, veterans are using their voices to repeat their message they hope will live eternal: Never forget.
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“When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.” ~ Thomas Jefferson
Important Takeaways:
- During this week’s broadcast of FNC’s “Sunday Morning Futures,” Sen. Rand Paul (R-KY) reacted to last week’s 34-count guilty verdict against former President Donald Trump.
- The Kentucky Republican said he had “bigger” concerns beyond Trump.
- “A sad day in America,” Paul said of the verdict. “And what I worry about is something even bigger than Donald Trump. I worry about strife. I worry about war in the streets. I worry about 50% of the public believing that the court system will be used against them. Once upon a time, it was because of the color of your skin, now because of the shade of your ideology. I worry about that and I worry, when half the country thinks they won’t be treated fairly, what happens and how people react.
- “If you look at records violations and you look at Hillary Clinton, $8 million expense, and they slapped her on the wrist because she got an $8,000 fine,” he continued. “And that’s actually probably appropriate, some kind of fine for mislabeling things. But there’s a real question whether it is mislabeled. Was it a legal expense? Sounds like it was a legal expense. All nondisclosure agreements, I believe, are legal expenses. I’m guessing there are hundreds of them in New York City as we speak. And my guess is, not one of them have ever been taken to court. I think Donald Trump is the only person ever prosecuted for this particular crime.”
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Important Takeaways:
- World War III Watch: Eastern Europe NATO Allies Readying to Foil Russian Hybrid Attacks
- Wars and rumors of wars are having an impact on military preparedness right across Eastern Europe. NATO member Poland on Monday became the latest state to announce a boost, presenting a plan to strengthen its anti-drone surveillance and on-ground military capabilities in the face of continued Russian threats.
- The effort follows Finland, Norway, and Baltic states drawing up similar proposals to deter Moscow’s aggression.
- AP reports a system of fortifications and barriers along about 430 miles of Poland’s eastern border with Russia and Russian ally Belarus are part of the planning.
- The government says Poland, which supports neighboring Ukraine in its defense against Russia’s aggression, is being targeted by hostile actions by Russia and Belarus.
- They include cyberattacks, attempted arson and migrants being pushed illegally across the border, which officials describe as intended to destabilize the European Union, of which Poland is a member, the AP report notes
- Meanwhile the Baltic states announced plans alongside Norway, Finland and Poland to construct a “drone wall” along their shared borders with Russia on Sunday, Newsweek reports.
- Estonian Interior Minister Lauri Läänemets said the technology is capable of both detecting and repelling drones, adding his country plans to install the barrier along its entire eastern border as well as around its major cities.
- The announcement comes days after Russia said it plans to change its maritime borders in the Baltic Sea. Lithuania’s foreign minister responded last week, calling it an “obvious escalation” that must be met with an “appropriately firm response.”
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Important Takeaways:
- Roughly 100 pro-Israel vigilantes stormed the “Palestine Solidarity Encampment” at the University of California Los Angeles (UCLA) late Tuesday night and early Wednesday morning, sparking battles with activists.
- The raid occurred after nearly a week in which UCLA not only allowed the encampment to occupy the main plaza on campus, but also allowed pro-Palestinian activists to run their own security, barring access to students and the public.
- The Daily Bruin, the student newspaper, reported the clashes:
- Fireworks, tear gas and fights broke out just after 10:50 p.m. Tuesday night and continued early Wednesday morning as around 100 pro-Israel counter-protesters attempted to seize the barricade around and storm the ongoing Palestine solidarity encampment in Dickson Plaza.
- After the barricades came down, counter-protesters and protesters inside the encampment began to fight. Counter-protesters shot fireworks into the encampment just after 11 p.m., and irritant gasses were released from both sides. A Daily Bruin reporter was indirectly sprayed in the face.
- In another statement released at 3:30 a.m., protesters inside the encampment said the university has not done enough to protect students, and they repeated earlier calls for the university to meet their demands.
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