UAE Crude Output Nears Record High Following OPEC Exit Amid Surge In Chinese Buying The United Arab Emirates raised ‌its crude output to near record highs above 3.8 million barrels per day in June, after the Gulf nation quit OPEC to escape production caps, Reuters reported citing two sources familiar with production data said on Monday. Bloomberg data showed even higher UAE exports, rising to 3.94mmb/d, just shy of the record hit […]

Has The Breakthrough Moment For Soccer In America Arrived? The World Cup is turning into a major ratings boom for US broadcasters, with Fox Sports, Telemundo and Peacock drawing record audiences. The US Men’s National Team (USMNT) is currently 1-0 down against Belgium in a Round 16 match, a game that could mark a breakthrough moment for soccer in America. About a month into the 39-day tournament, top matches featuring the US, […]

Priced Beyond Perfection: Samsung Electronics Tumbles As Soaring Profit Not Good Enough The memory bubble appears to be rapidly deflating. After the semiconductor/memory sector was walloped in Monday US trading without any clear negative catalyst, the semiconductor-chasing world was eagerly waiting to hear what Samsung – the world’s largest memory maker – would report in its preliminary Q2 earnings report as investors sought to […]

Micron Breaks Ground On $9 Billion Hiroshima Memory Chip Plant US memory giant Micron Technology on Saturday broke ground on the expansion of its factory in Japan’s Hiroshima Prefecture, a ¥1.5 trillion ($9.3 billion) undertaking to produce advanced memory chips, Bloomberg reported.  The Boise, Idaho-based company is building the facility in Hiroshima Prefecture to make chips such as high-bandwidth memory crucial for AI […]

“Reaching A Climax”: Hedge Funds Turn Most Bearish On Yen Since 2007, As Former FX Czar Sees 20% Undervaluation For much of the past year, when the USDJPY disconnected – initially playfully and then terminally – from 2Y yield differentials, FX traders have been asking when and how will this gaping divergence finally converge. Alas, that answer remains elusive still, even as the collapse in the yen has pushed the currency to a […]

White House Report Accuses Smithsonian Leaders Of ‘Extreme Political Activism’ Authored by Aldgra Fredly via The Epoch Times, A White House report accused leaders of the Smithsonian Institution of adopting an ideological framework that shifted the National Museum of American History away from its mission of historical education toward what it called an “extreme political activism.” People visit the Smithsonian Museum of American […]

2028 Democrat Presidential Hopeful Exposes Party Civil War Against Its Socialist Wing Gov. Josh Shapiro sat down with Dana Bash on CNN’s State of the Union this weekend and said the quiet part out loud: his party is being overrun by its socialist and far left flank. Bash pressed Shapiro on Darializa Avila Chevalier, who won the Democratic congressional primary in New York’s 13th congressional district last month while running as […]

Key Dems Pull Out After Platner Campaign Rocked By Sexual Assault Allegations Update: That didn’t take long… key democrats including Sen. Ruben Gallego (D-AZ) and Rep. Ro Khanna have pulled their endorsements of Platner following the allegations, according to Fox News’ Bill Melugin.  BREAKING: Sen. Gallego (D-AZ) withdraws his Platner endorsement shortly after Rep. Khanna (D-CA) does the same. The dam is breaking. […]

SBA, USDA To Combat ‘Regulatory Abuse’ Lawfare Aimed At Farmers And Ranchers Authored by Naveen Athrappully via The Epoch Times, The Small Business Administration (SBA) and the U.S. Department of Agriculture (USDA) have signed a memorandum to counter lawfare targeting rural communities, ranchers, farmers, and small businesses. Ranchers work to evacuate cattle as the Gifford Fire burns nearby in Los Padres National Forest, Calif., […]

American Nuclear Energy: The Highest Ambitions And The Highest Costs McKinsey published its take on the nuclear sector titled “Nuclear power: A renaissance in the making.” The report starts by highlighting the bull cases for nuclear, such as AI data center demand, electrification, onshoring, decarbonization goals, and energy security concerns. The firm goes on to reiterate their projection that global nuclear capacity could at […]

Tech CEOs: Just Kidding About That Jobpocalypse For three years, everyone from Goldman, to Richmond Fed President Thomas Barkin, to tech CEOs have been forecasting mass unemployment due to AI wiping out jobs – which would only be accelerated by the proliferation of cheap(er) Chinese models. Ford Motor CEO Jim Farley said last year that AI would replace “literally half of all white-collar workers in the U.S.”  And while that may […]

Dramatic Video Shows BJ’s Wholesale Club Roof Collapse In New Jersey After last week’s brutal heat dome baked the Mid-Atlantic and Northeast with triple-digit temperatures, dangerous storms struck the tri-state area on Monday, triggering flash flooding and high winds. BREAKING: Coastal New Jersey is under water after 6″+ of rainfall Monday. Flooding is submerging vehicles and is being blamed for a roof collapse at a BJ’s Wholesale […]

Biden’s Illegal Alien Invasion Sparked 30% Home Price Growth, 20% Rent Growth: Fed Paper A new Federal Reserve working paper adds hard data to a dire economic realities that tens of millions of hardworking Americans already face: being priced out of homeownership or trapped paying ungodly high rents. For years, the housing affordability crisis was blamed almost entirely on low interest rates, pandemic-era demand, institutional […]

On The War For The Soul Of Our Nation… Authored by James Howard Kusntler, Werewolves Of London “To use language to obscure reality is to show ‘indifference regarding the truth’ – to lie to the public and cease to treat our fellow citizens as equals.”  – Justice Clarence Thomas Now that the grand 250th USA birthday party is over – the speeches, the shrieking warplanes, the dazzling fireworks, the speeches and […]

Officials Tracking Growing Outbreak Of Legionnaires’ Disease In New York Authored by Zachary Stieber via The Epoch Times, An outbreak of serious pneumonia is growing in New York, officials said on July 5. Eighteen cases of Legionnaires’ disease have been confirmed in several Manhattan neighborhoods, the New York City Department of Health and Mental Hygiene said late Sunday, up from 14 earlier in the day and 10 on Saturday. […]

“Arms Race Has Started”: War Unicorns Enter M&A Phase As Ondas Snaps Up Kamikaze Drone Maker DZYNE The writing is on the wall: defense-tech unicorns, particularly those focused on loitering munitions, autonomous drones, and counter-UAS systems, are positioned for years of growth as warfare changes forever.  These “war unicorns,” as we call them, are increasingly ripe for M&A as larger players race to consolidate across […]

When The Monetary Laws Of Physics Change Authored by Mark Jeftovic via BombThrower.com, “You just wait until the next bear market…” Last month, I talked about how many of the legendary investors I’ve long followed as well as many of my contemporary financial commentators (speaking specifically of the contrarian ilk), are almost unanimous in the opinion that the AI trade is well into bubble territory and stocks in general […]

Cuba’s Entire Power Grid Collapses As Castro’s Grandson Seeks Talks With Trump Summary: Cuba’s Power Grid Collapses  Castro’s Grandson Ready To Talk With Trump  Cuba Goes Dark Hours after USA Today published an interview between one of its journalists and Cuban President Castro’s grandson, Raúl Guillermo Rodríguez Castro, the communist-run island experienced an island-wide power grid collapse. The electrical workers’ union […]

Hormuz In The Rearview As Asia-US Ocean Container Rates Soar Past $7,900 By Stuart Chirls of AmericanShipper The container shipping market is being driven by geopolitics, rates, and network reshuffling, but freight-rate volatility and adjustments by carriers to protect schedules and pricing has supplanted Middle East disruptions as top-level concerns. Asia-U.S. West Coast prices increased 8% to $6,175 per forty foot equivalent […]

Nvidia Turns Green After Denying Report Its Kyber Server Rack Has Been Delayed Overnight, Asian tech stocks slumped after a report that Nvidia’s next-generation AI server rack system has been delayed by more than a year due to manufacturing difficulties (we profiled it back in May in “Nvidia’s Vera Rubin Rack Will Cost $7.8MM: Here’s What’s In It”.) Research firm SemiAnalysis said in an X post that Nvidia’s Kyber NVL144 hit […]

Mag 7 Stocks: Risk Or Opportunity In The Making? Authored by Lance Roberts via RealInvestmentAdvice.com 💰 Mag 7 Stocks: What Is Causing The Drag For the past few months, the “Magnificent 7”, or more colloquially known as “Mag 7,” stocks have looked more like the “Lag 7.” The market’s largest growth names, Apple (AAPL), Microsoft (MSFT), Google (GOOG), Amazon (AMZN), Tesla (TSLA), Meta (META), and Nvidia […]

Xbox Hit With 3,000 Layoffs After CEO Warns Business Is “Not Healthy” Xbox CEO Asha Sharma issued a dire warning to staff on Monday: “Our business today is not healthy. We must reset Xbox.” Sharma’s memo, first published on the Xbox website, announced cuts of 3,200 jobs tied to Microsoft’s Xbox division, or equal to about 20% of staff, as deteriorating margins and disappointing Game Pass subscriptions have forced the unit into a […]

New Jersey Lawmakers Pass Bill To Establish Large Load Data Center Tariff By Zachary Skidmore of DataCenterDynamics New Jersey lawmakers have passed a bill that will direct the state’s Board of Public Utilities (PUC) to establish a dedicated data center tariff for facilities with a capacity of 50MW or more, in an attempt to shield other ratepayers from cost increases tied to new builds. A similar bill was originally proposed in […]

Truck Driver Accused Of Using Fake Documents To Steal $2.9 Million Cargo By Phil Bring of FreightWaves Police in Greenfield, Indiana, arrested a California truck driver after officers recovered nearly $2.9 million worth of tungsten oxide powder that police said thieves stole during a cargo theft in Pennsylvania. According to a June 28 news release from the Greenfield Police Department, officers received an alert around 6 a.m. […]

Saudi Arabia Sells Oil At A Discount For The First Time Since COVID Crash, As China Demand Collapses We previously discussed the unprecedented collapse observed in recent months in Chinese oil demand and imports, which led to the bizarre scenario where even Iran can’t find buyers (read China) for its temporarily unsanctioned oil armada (see “Iran Runs Into Big Problem: No Buyers For Its Oil, As Full Tankers Pile Up Off China”) and […]