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Opening Round Of US-Iran Nuclear Talks Postponed After Israel-Lebanon Clashes Erupt

Tyler Durden — Fri, 19 Jun 2026 11:25:00 +0000

Opening Round Of US-Iran Nuclear Talks Postponed After Israel-Lebanon Clashes Erupt

Talks between Iran and the US were postponed on Friday in Switzerland, delaying what was supposed to be the opening round of negotiations towards a permanent peace and nuclear deal.

The delay appears to center on a new escalation between Israel and Iran-backed Hezbollah militants in southern Lebanon, a troubling development that threatens the fresh interim deal signed by President Trump and Iran just days ago. Tehran has insisted that a ceasefire in Lebanon is part of the interim deal, meaning the Israel-Hezbollah front could derail the US-Iran diplomatic path to a sustained reopening of the Strait of Hormuz.

The Financial Times provided more details on the overnight development:

Talks between Iran and the US in Switzerland were postponed due to Israel launching a wave of deadly air strikes on southern Lebanon, according to three people familiar with the matter.

Iran did not send a delegation to Switzerland for the nuclear talks because of the attacks, the people said. The interim agreement signed by the US and Iran on Wednesday stipulates the "immediate and permanent termination" of fighting, including in Lebanon.

A diplomat familiar with the Switzerland talks told the outlet:

The Iranians have asked for guarantees that hostilities in Lebanon will end, as outlined in the signed agreement, and mediators are currently working to resolve the issue.

According to other FT sources, Iran's position is effectively "no Lebanon, no deal," arguing that it has restrained Hezbollah while Washington has failed to restrain Israel.

Israeli airstrikes across more than 10 villages in southern Lebanon killed 18 people and wounded 33, according to Lebanon's health ministry.

⭕️WATCH: A Hezbollah launcher firing rockets toward IDF soldiers

In response to Hezbollah’s repeated & blatant ceasefire violations, the IDF struck 2 Hezbollah command centers in the Beqaa Valley, 80+ terror targets in southern Lebanon and eliminated dozens of Hezbollah… pic.twitter.com/NntfHM87vd
— Israel Defense Forces (@IDF) June 19, 2026

Itamar Ben Gvir, Israel's national security minister, reacted on X to the latest fighting in Lebanon:

For every tear of an Israeli mother, a thousand Lebanese mothers must weep. All of Lebanon must burn! With all due respect to the Americans, Israel must make it clear to the entire world that the blood of our sons and the security of our citizens are not forfeit. All of Lebanon must burn. Our supreme duty is to protect the citizens of Israel and the soldiers of the IDF, and this commitment takes precedence over every other consideration. I told the Prime Minister, even in our private meetings: For every tear of an Israeli mother, a thousand Lebanese mothers must weep. Enough with the ping-pong. In the Middle East, you don't win with measured responses and restraint—you need to go berserk. To obliterate. To crush the terror.

על כל דמעה של אמא ישראלית, אלף אמהות לבנוניות צריכות לבכות. לבנון כולה צריכה לבעור!

עם כל הכבוד לאמריקאים, ישראל חייבת להבהיר לעולם כולו שדם בנינו וביטחון אזרחנו איננו הפקר. לבנון כולה צריכה לבעור. חובתנו העליונה היא להגן על אזרחי ישראל ועל חיילי צה״ל, והמחויבות הזו קודמת לכל…
— איתמר בן גביר (@itamarbengvir) June 19, 2026

Drop Site provided more color on the canceled talks:

Al Mayadeen report earlier today that Iran's delegation suspended its trip to Geneva due to ongoing Israeli attacks in southern Lebanon.
A White House spokesperson later said Vice President JD Vance, head of the US delegation, also canceled his planned trip to meet Iranian negotiators and begin talks on negotiating and implementing the postwar framework
Reuters reported the delegation had been preparing to launch the first round of the agreement's 60-day negotiations. Tehran had previously told Washington and mediators that developments in Lebanon would be a key factor in whether talks proceed.

Pakistani journalist Kamran Yousaf wrote on X, "Pakistan has called back its advance team from Switzerland, throwing the next round of Iran-US talks into uncertainty."

He added, "With Tehran seemingly reluctant to engage at a European venue, diplomatic sources say Islamabad or Doha is now the most likely destination for the next round of negotiations."

BREAKING

Pakistan has called back its advance team from Switzerland, throwing the next round of Iran-US talks into uncertainty.

With Tehran seemingly reluctant to engage at a European venue, diplomatic sources say Islamabad or Doha is now the most likely destination for the…
— Kamran Yousaf (@Kamran_Yousaf) June 19, 2026

Beyond the overnight fighting in southern Lebanon, the takeaway is that the interim deal still gives Washington and Tehran a 60-day ceasefire window, immediately reopening the Strait of Hormuz and creating a framework for eventual talks on Iran's nuclear program.

The problem now is that both sides need to control their proxies and allied partners. Tehran must keep its Hezbollah fighters restrained, while the Trump administration must keep its Israeli ally from escalating in Lebanon. Without that dual restraint, the 60-day ceasefire window could collapse.

Tyler Durden Fri, 06/19/2026 - 07:25

'Two-Tier' Britain: White Jobseekers Locked Out Of Employment Schemes

Tyler Durden — Fri, 19 Jun 2026 11:00:00 +0000

'Two-Tier' Britain: White Jobseekers Locked Out Of Employment Schemes

Authored by Steve Watson via Modernity,

Local councils are running race-exclusive job support programmes for ethnic minorities using central government grants, leaving white Britons on benefits to fend for themselves in a system that claims to promote fairness.

This fresh example of identity-driven exclusion follows a clear pattern of public and private sector policies that disadvantage white applicants in hiring, training and now benefits-linked help, all justified under the banner of "positive action" and "levelling up."

A Telegraph investigation published this week exposed how multiple local authorities are directing taxpayer money into employment programmes closed to white jobseekers.

White People BLOCKED From Accessing Job Seeker Schemes

Campaigns director @yarwoodwilliam joined @MartinDaubney on @GBNEWS to discuss how and why local authorities are engaging in two-tier politics by blocking white people from accessing job schemes. pic.twitter.com/z4wUFQXljF
- TaxPayers' Alliance (@the_tpa) June 16, 2026

In Sheffield, the Labour and Green-led city council runs a £340,000 Pathways to Work project offering "targeted employment support for ethnic minority groups."

The report notes that the scheme, delivered through local charities, focuses on "economically inactive" minorities and draws funding from the Department for Work and Pensions' Economic Inactivity Trailblazer plus the £2.6 billion UK Shared Prosperity Fund administered by the Ministry of Housing, Communities and Local Government.

Greater Manchester Combined Authority, under possible soon to be Prime Minister Andy Burnham, has used similar grants for "culturally appropriate employability support" aimed at BAME residents in Oldham.

This includes CV workshops and mentoring sessions reserved for those groups. While the authority maintains other programmes remain open to everyone, the ring-fenced elements explicitly prioritise ethnicity.

In Scotland, Labour-run North Lanarkshire Council restricted some business growth support programmes to local black and minority ethnic entrepreneurs only.

These initiatives sit inside the broader "levelling up" agenda, where central government funnels multi-billion-pound grants to local and combined authorities.

The money is meant to tackle economic inactivity, yet in practice it is being channelled through race-based filters.

William Yarwood, Campaigns Director of the TaxPayers' Alliance stated "Taxpayers should not be funding schemes that exclude people because of their race."

He added that "Race-based eligibility smacks of identity politics and a two-tier system, which undermines public confidence in the system. Ministers should end these discriminatory programmes and ensure taxpayer-funded support is open to all jobseekers who need it."

Alka Sehgal Cuthbert, Director of Don't Divide Us, labelled the approach segregationist and questioned the selective focus on race while ignoring other variables that actually drive employment outcomes.

"Have they looked at age, locality, educational background, language proficiency and other relevant variables before proceeding with yet another divisive, race-based, segregationist plan for social in-cohesion?" he urged.

"If and when there is civil disobedience, it will be in no small part due to the patronising stupidity of leaders who think this is a good plan," Cuthbert prophesied.

The public sector had already come under pressure to rethink diversity policies following the murder of Henry Nowak in Southampton. Bodycam footage and court evidence showed police initially treating the white victim in a manner that drew sharp criticism, while the Sikh perpetrator's false claim of racial abuse complicated the response. That case accelerated reviews of race guidance across policing and public services.

Why default to skin colour as the targeting mechanism instead of straightforward need, postcode deprivation, age, skills gaps or family background?

White working-class communities in many former industrial areas face stubbornly high economic inactivity and poor educational outcomes too.

Treating race as the primary lens simply injects identity politics into British benefits and employment services.

This is not an isolated experiment. It sits squarely inside an established trend of public bodies using the Equality Act's positive action provisions to tilt opportunities away from white applicants.

In April 2025, West Yorkshire Police - one of the country's largest forces - operated a system where BAME candidates could apply year-round for constable roles while white British and Eastern European applicants were restricted to specific recruitment windows.

Internal descriptions labelled minority applicants "gold" and white applicants "bronze." A whistleblower described how the process restricted progression opportunities for white British candidates, with ethnic minority applications advanced ahead of the general pool.

Earlier, in January 2025, Westminster City Council advertised an Executive Assistant role and openly stated it would use positive action to appoint a candidate from a "Global Majority" background where two candidates were of equal merit.

The advert made clear that white British applicants would not be favoured over non-white candidates.

A parallel controversy erupted this month when the National Audit Office was criticised for running an internship scheme closed to middle-class white men, limiting eligibility to female applicants, those of black heritage or from lower socio-economic backgrounds.

The National Audit Office, which is funded by the taxpayer, said only applicants who are female, of black heritage or from lower socio-economic backgrounds could apply

?: https://t.co/z2omtzZnVX pic.twitter.com/KWE2m8fzi5
- The Telegraph (@Telegraph) June 6, 2026

Similar patterns have appeared in other public sector recruitment and in private hiring data. Reports from previous years documented cases where managers were instructed to deprioritise white male candidates, and employment tribunals accepted arguments that wanting to hire fewer white men did not constitute unlawful discrimination.

BBC accused of discriminating against WHITE candidates https://t.co/hcSIe86D2C #humanresources #hrnews #hr pic.twitter.com/yRmDktIkCz
- HRNews (@HRNewsdesk) June 3, 2016

Source: https://t.co/zJPxWiIQ6K
- The Rabbit Hole (@TheRabbitHole) December 26, 2024

? Tories push for crackdown on 'racist' anti-white hiringhttps://t.co/TTGqpdRXRZ
- The Telegraph (@Telegraph) April 11, 2025

Source: https://t.co/uwj9UuxW2Z
- The Rabbit Hole (@TheRabbitHole) February 21, 2024

RAF diversity targets discriminated against white men https://t.co/dUKotB24iz
- BBC News (UK) (@BBCNews) June 30, 2023

The thread running through policing, local government jobs and now benefits-linked employment support is consistent: race is treated as a legitimate sorting category, with the white majority positioned as the group whose exclusion or deprioritisation requires the least justification.

When central government grants intended for economic revival are filtered through racial eligibility tests, the message sent to ordinary taxpayers is unmistakable.

Some citizens are deemed deserving of dedicated help on the basis of ancestry; others - regardless of their personal circumstances - are not. This is the very definition of a two-tier system.

The Equality Act was never meant to license routine racial gatekeeping in taxpayer services. Positive action was framed as a limited tool for overcoming specific, proven disadvantages. In practice it has become a bureaucratic justification for embedding identity preferences across swathes of public life.

Britain already struggles with social cohesion after years of rapid demographic change and elite-driven multiculturalism. Adding explicit race-based rationing of job help on top of that is reckless.

It fuels precisely the resentment and withdrawal of consent that critics like Alka Sehgal Cuthbert have warned about.

The alternative is straightforward. Employment and benefits support should be allocated according to individual circumstances - skills, work history, local labour market conditions, health, caring responsibilities - not membership of a favoured racial category.

Jobcentres are being remodelled on a universal basis; local add-ons should follow the same principle or lose their funding.

Taxpayers of every background contribute to the same pot. They are entitled to expect that pot is not used to tell one group of citizens they are second-class when it comes to basic help getting back into work.

The current approach does not level anyone up. It entrenches division, rewards grievance entrepreneurship and erodes the principle that public services treat citizens as individuals rather than avatars of their ancestry. That principle is worth defending before the two-tier logic spreads further.

Tyler Durden Fri, 06/19/2026 - 07:00

Modern Wars Cannot Be Won Without Kamikaze Drones, Paris Defense Show Makes Clear

Tyler Durden — Fri, 19 Jun 2026 10:15:00 +0000

Modern Wars Cannot Be Won Without Kamikaze Drones, Paris Defense Show Makes Clear

One of the world's largest defense and security trade shows is wrapping up this week near Paris at the Paris Nord Villepinte exhibition center, where equity analysts from Paris-based Kepler Cheuvreux attended the event.

Eurosatory focuses mostly on land and air-to-land warfare, including tanks, armored vehicles, artillery, drones, counter-drone systems, missiles, air defense, communications, battlefield software, logistics, robotics, military medicine, and homeland security systems.

Fire Point updates their Eurosatory stand this morning. #Ukraine pic.twitter.com/2RwlJlh8fW
— Peter Voinovich (@PeterVoinovich) June 18, 2026

Kepler Cheuvreux equity analyst Aymeric Poulain attended the event and spoke with top executives from European defense giants Thales, Exosens, Leonardo, Hensoldt, and Rheinmetall. He also met with Safran executives at the company's headquarters.

Les guerres d’aujourd’hui ne se gagnent pas sans drones.

Au salon de l’armement Eurosatory, j’ai eu le plaisir d’échanger avec les ingénieurs d’@EOStechnologie, qui produit à Varces (Isère) des drones et munitions téléopérées de qualité exceptionnelle.

Fière de ce… pic.twitter.com/oNxl4PfDpi
— Marion Maréchal (@MarionMarechal) June 17, 2026

Poulain penned a note on Thursday titled "Game of Drone," in which he was able to "take the pulse of the sector" to determine the "latest product trends."

A german-made logistics only (for now) drone on KNDS stand at #Eurosatory. pic.twitter.com/YQS3NhRusx
— Elisabeth Gosselin-Malo (@elisabethmalom1) June 17, 2026

He said European defense sentiment remains firmly bullish, with Eurosatory underscoring enthusiasm among investors and industry interest in drones, counter-drone systems, missiles, lasers, and unmanned platforms.

The war in Ukraine and the conflict in the Middle East have accelerated this defense shift, demonstrating how low-cost drones, autonomous systems, and robotic platforms are increasingly dominating the modern battlefield and forcing legacy defense primes to adapt their portfolios at lightning speed.

Poulain's summary of what he saw at the defense show:

1. We accompanied a group of investors at the Eurosatory trade show for the defence and security industry in Paris early this week. The show was an occasion to meet with Thales, Exosens, Leonardo, Hensoldt and Rheinmetall and take the pulse of the sector and the latest product trends. We also met Safran at their headquarters. This always proposes a sample of our notes from the visit.

2. The atmosphere was buoyant amidst booming times for European defence. One of the most striking features of the show was the prominent display of drones and counter-drones, both as an add-on to incumbent core portfolios or as the core product for defence tech players. The Ukraine delegation came in force this year (even as the country is not allowed to export its production yet), underlining the significant use of drones and unmanned equipment, including underwater unmanned systems, in combat operations in the country. We talked to one of the association's representatives and were shocked to hear that production, which was 2m last year and was expected to reach 4m this year, is actually on track to reach 7m by the end of the year! It is no wonder, therefore, that the so-called "kill zone" has widened from 5km at the beginning of the war to 50km by now and that the "kill rate" is now averaging 400K Russian troops per year, a staggering demonstration of the law of large numbers. Ukraine has banned exports, such that its entire stock of weapons is aimed at supporting the war eﬀort, but a strong presence at the salon shows that Ukrainian arm m

3. The presence of drones, missiles and counter-drones solutions was ubiquitous, be it as a new add-on to incumbent platforms and kits or as a hardware derivative of defence tech players (such as Shield AI, Harmattan AI, Destinus, Quantum Systems or Helsing). The use of laser solutions (e.g., EOS) to neutralise drones or satellites was another demonstration of how science is now turning fiction into reality and how every incumbent is adapting their portfolios to the unassailable and rapid evolution of technology and modern warfare

Key summaries of Poulain's conversation with top executives from top EU defense firms:

Thales

• At Thales, we met the head of North America and Louis Igonet, head of IR. As the trade show is mostly dedicated to land-based solutions, our visit was an occasion to discuss the exposure of Thales to this field, including Thales' integrated command & centre solutions, drone and counter-drone products, as well as electronic warfare capabilities (high energy microwave solutions).

• Air defence is on top of the agenda when it comes to defending Europe, including radars, integrated multi-domain modular command & control solutions (SkyDefender), secured communications, missiles, etc. Thales is not as exposed to eﬀectors as other defense companies, but is well positioned to gain in counter-drone with low-cost eﬀector solutions to neutralize drones. The evolution of the battlefield has seen the ascent of drone warfare and defence tech. Thales believes its AI and sensor capabilities give it a license to operate in this highly competitive segment. The deal announced with Renault to join forces to manufacture 1000 Toutatis drones per month was announced just before the show. At USD 30K per unit, the drone's accuracy is said to rival cheaper drones (at USD 1000 per unit) whose swarms may need 20-50 units to hit. The group noted that anti-tank missile demand is shrinking, but overall demand for missiles is growing. Thales is an equipment supplier to platforms and is therefore platform agnostic and indiﬀerent about the future of armoured vehicle platforms. Whether it is unmanned or manned, the group is selling the same growing amount of sensors and radars, while it is also increasing its share of low-cost munitions. Thales is exposed to the Patriot missile as a supplier of seekers to Boeing and expects a 3-4x increase in demand from this customer. This is on top of its own anti-ballistic missile system, the SAMP/T NG, whose growth prospects are excellent and first export versions are expected to be delivered to Denmark from 2028E, hence the view that missile seekers could grow from a few hundred million euros to a billion-dollar business in the not-too-distant future. The group defined itself as a tech company given its giant EUR4bn+ R&D budget. Current priorities include Cybersecurity, AI and Quantum technologies. Some 1000 engineers are dedicated to applied AI to improve the prowess of its sensors and radars. Similarly, the group leadership in quantum technologies enables the creation of much more eﬀicient and less power-hungry radar systems.

• Order intakes continue to be strong and above expectations with jumbo platform orders (SAMP/T NG and Rafale) expected this year, while much smaller orders (below EUR 10 m) still represent the bread and butter of the group. European orders dominate. Unsurprisingly, perhaps, as 65%+ of the group revenues come from the region, which also happens to be the most dynamic worldwide and benefit from lending facilities that promote European-made equipment buying. In Germany, the group is mostly exposed to the Maritime domain, having won the electronic lead role in the Frigate 126 programme, while it is also gaining ground on radars and communications, notably as part of Germany's EUR 11bn shipment of military goods to Ukraine. However, as a global Franco-British defence contractor, possible delays in the British budget are not seen as a major risk, especially as it should be more than oﬀset by France's LPM EUR 36bn top-up plan, which parliament should vote on and sign soon. Thales is also hopeful to get a growing share of the growing Canadian pie, as the country is trying to reduce its reliance on the US. The group recently booked a EUR 400m (AUD750m) contract in Australia for 268 next-generation Bush Master vehicles. In the US, the group is a leader in communication and secured radio com (along with L3Harris), sonars (world leader), avionics (modest), missile electronics and optronics sensors. The ambition is to double the US business by 2030. Thales has been present in the Middle East for at least 50 years, such that the recent developments in the region are likely to be a positive for the company, which also assembles radar in the UAE. Some 10% of revenues stem from the region, and recent urgent operating requests suggest that orders in the coming year could boost growth.

• The group has also built capacity ahead of the demand, hence its capacity to deliver oﬀ-the-shelf, which has been behind its recent double-digit revenue growth momentum and should continue to support both record-breaking orders and revenue growth. Supply chain is performing well, even if the group continues to be vigilant on PCBs. In that regard, Thale is building its own internal capacity. Inflationary pressures in the memory space are covered by indexation clauses.

• M&A is always part of the capital allocation toolbox at Thales, although the group is clear that the goal is not to add a new leg to the portfolio and that it first needs to prove the merit of the Imperva acquisition (which we believe it will, as organic growth is set to recover as the year progresses in the key cybersecurity segment). The Space carve-out means that Space will be looking at its own acquisition as a deconsolidated JV, therefore focusing attention on defence and avionics. The Bromo merger talks are ongoing and focus on convincing social partners and anti trust authorities, while giving the time to Airbus to complete its own carve out. That said, the market opportunity for Space is growing amidst rising EU and ESA budgets.

Exosens

• We had a chance to meet Jerome Cerisier, CEO of Exosens and Laurent Sfaxi, head of IR, who showcased the latest innovations fuelling the group's strong organic growth at the moment.

• The group's infrared thermal imaging solutions (part of D&I) have been in high demand and a key driver of upgrades lately. The product includes both large high-ticket surveillance cameras (a few hundred sold per year at EUR 100K+ a unit) and smaller thermal sensors used in higher volumes by the drone industry (delivering batches of 10k unit orders), the group claiming a dozen clients in this field. Part of its success has been its presence in Europe (the main competitor is Teledyne) and its agile integrated solution. Scale is not an issue, and gross margins are comparable to Amplification.

• In Amplification, the group showcased its bread and butter 4G tubes (used by Theon's binocular NVS), sold at EUR 2400 per unit on average ("between EUR 2000 and EUR 3000) as well as its latest resolution 5G tubes, whose resolution is 35% better and price tag probably 20-25%+ better too. The group is on track to produce 6,000 5G tubes this year, with growth driven by yield improvements rather than additional capacity, in line with the existing plan to reach 175,000 tube capacity by 2028E.

• Geographically, Europe is where the highest growth can be seen, although the growing presence of Asian delegations on the show underlined the growing demand expected from countries such as Japan and Korea, the latter likely to be slower-moving than the former.

• Civil activities at D&I are also enjoying a turnaround of sorts. The semiconductor industry is booming, and demand for non- destructive wafer testing solutions should be benefiting. Life sciences remain complicated, but demand for nuclear gamma ray monitoring devices is starting to take oﬀ on the back of the growing interest for SMRs, notably in the US. The group is supplying half of the projects that have been selected in the US and sees "very, very strong growth" as a result, albeit for a low base, in a small niche market shared between Exosens and Mirion Technologies.

• M&A remains on the agenda, the group having commented that the size of its next deals could be bigger than in the past. Although multiples have definitely increased in defence, management has not seen a material inflation of multiples for civil dual- use tech application targets, as it tends to pursue.

Leonardo

• Our meeting with Leonardo was shortened and did not bring anything new to our understanding of the story, which was covered most diligently by Matteo Bonizzoni.

• Order intakes were a record EUR 9bn in Q1, which compares with a EUR 25bn guidance for the year. This included a big helicopter order from the UK (GBP1bn).

• Iveco's consolidation details will be provided in Q2.

• A new CEO took over. Aer 35 years at the company, he knows the business well and would eﬀectively mark a continuation of the strategy set by his predecessor.

• A deal in Aerostructure is no longer realistic this summer.

• However, the group is confident in delivering on its guidance.

• The Middle East is 8% of revenues and growing. Leonardo expects strong demand to come from the region.

• The GCAP is diﬀicult, given the ongoing funding constraints. Yet, it received its first international order. So the program is progressing even if not fully funded.

• The 22.8% stake in Hensoldt is currently looked at as an industrial partner. However, as it is clear that there is no chance for Leonardo of getting control, the group is discussing how to leverage the stake industrially at the moment, but could also eventually decide to realise the value of its stake through a financial sale if no synergies can be found

Hensoldt

• Hensoldt showcased its TRML 4D and Spexer radars, which are in high demand and currently expanding production with a view to doubling capacity from 15 in 2025, estimated at 20 in 2026, to 30 TRML 4D radars in 2027E.

• Although the group's revenues and order intakes are dominated by Germany and other NATO countries (10 Skyshield countries have opted for TRML 4D radars), the group would expect Middle East demand (a low single-digit percentage of group revenues) to double over time.

• Growth should be strong this year, while the book-to-bill of 1.5-2x highlights the strength of the current order momentum, but also the lumpiness necessitating quite a range of absolute outcomes (EUR3.8-5bn order). The group expects to receive EUR 1bn orders for new Pegasus surveillance aircra or Luwes jamming systems, whose exact timing remains uncertain.

• The end of the FCAS is not a concern to Hensoldt, which expects an alternative to the programme. Meanwhile, the group would expect to reallocate a third of the 150 engineers working on the project to other R&D priorities. Paid for R&D accounted for 15% of group revenues last year.

• The stock has derated on macro considerations and ceasefire concerns, but ramping up production to meet a fast-growing backlog of multi-domain sensors and optronics solutions secures the strong 15-20% top line growth outlook earmarked at the CMD last year.

Safran

• We met the Safran IR team at their headquarters aer our visit to Eurosatory.

• The company presented last week its Defence ambitions in Montlucon. We encourage our readers to refer to our site visit note for more details on the very strong prospects oﬀered by Defence for Safran and the confidence we have in the group's ability to continue to surprise in its Propulsion Civil aermarket business, making the stock still one of our highest conviction ideas in the aerospace & defence sector.

• The group's defence portfolio contributed c.20% of revenues in 2025, of which half was attributable to Propulsion (or EUR3.1bn last year) and the rest to Equipment & Defence (or EUR 3.2bn last year).

• In the propulsion, some 10% of revenues stem from Military Engines, notably the M88 engine deliveries and aermarket revenues, whose delivery rates are set to double by 2029. This does not include the possibility of new Rafale orders; the group is awaiting the signature of the 114 Rafale jet Indian contract (FCF guidance not including such jumbo deals). Meanwhile, Safran Propulsion is benefiting from the booming missile demand (EUR0.4bn revenues), which already tripled between 22-25E but is on course to grow by 7x by 2028. Safran is on board 10 missile platforms (with MBDA, Kongsberg and Saab in particular) and is currently in discussion with US missile makers. Another 5% of the group's Propulsion revenues is directed at military Helicopters, whose business is heavily split between aermarket and new turbine deliveries. Margin-wise, the group is not commenting on the contribution by the sub-segment other than the fact that the growth in military propulsion is not expected to be dilutive to the propulsion margins.

• The group's defence segment in Equipment & Defence is enjoying very strong demand for its Hammer guiding kits, recently illustrated by a key ballistic missile win. Here, the group has seen demand grow 5-6 fold over the last three years with continued very strong momentum, hence investments to triple production. Order intakes grew by + 60% last year, pointing at least high teens growth for Safran Defence Electronics Defence segment by the end of the decade, from 17% CAGR reported between 22- 25E. 80% of the order book is international and platform agnostic, while the group is capable of covering the entire spectrum from highly sophisticated programs to more aﬀordable mass customers. In Equipment & Defence, the outperformance of defence is set to be margin accretive and a key reason why management is confident it can increase margin to mid-teens.

• Outside defence, the equity story remains dominated by the group's core Civil Propulsion business, which accounts for 80% of its Propulsion business, of which 68% is narrow-body engines (CFM56 and LEAP), and 12% comes from wide-body. Growth in Civil Aermarket Propulsion was very strong in Q1, including 29% for Spares and 40% for Services. Growth in Spares was not driven by the growth of shop visits, although a growing portion of LEAP shop visits are done by third-party MRO (up from 10% to 15% of total, on 30% shop visit growth expected this year, suggesting a doubling of LEAP third-party spares demand). That said, the bulk of spares growth is explained by CFM56, whose shop visit growth is now flat and pricing gains amount to 5-7%, thereby highlighting the importance of workscope eﬀects, which are growing faster in 26E than in 25E, a phenomenon that could prevail until the end of the decade in line with the ageing fleet and the growing number of 2nd shop visits that tend to consume 60% more parts than the first ones (albeit the average varying given the fact that some spare part replacements are mandatory while others are at the discretion of the airlines). Another for the 3rd shop visits that typically compete on price with the second material, they are also set to contribute more, as there is no stock of the second spare part and as power generation players now buy a growing number of retired engines. Retirement rates of CFM56 have been below the planned 2% this year (at c.1-1.5%) and could continue to be below the 3-4% expected in the coming years, as airlines have so far not changed their behaviour, probably on the assumption that the oil shock would be temporary. Safran has not seen slot cancellation or deferrals as companies do not want to be caught oﬀ guard should a reopening of the Hormuz Strait opens soon (likely if a deal is signed this week end in our view and as suggested by the sharp fall in oil prices) pointing to another strong quarter in Q2 and very strong confidence in delivering low teen CAGR in revenues and EBIT for Propulsion between 25-28E (at 22-24% margin), driven by CFM56 and LEAP . If growth oﬀers visibility on the back of planned shop visits and pricing power, the margin band is mostly a reflection of mix question marks and the likely normalisation of spare engine ratios in the LEAP engine delivery mix (expected to be 10-12%). There is upside to margin, though, as tariﬀs paid last year may be refunded this year, although this may simply compensate other inflationary eﬀects.

• Outside the sensitivity of airline traﬀic and balance sheet to the macro, Safran USD hedging stands at 1.13 until 2028E, such that the risks to group assumptions appear limited to the French corporate tax surcharge (assumed at EUR 475m this year and not recurring next year), although cash flow assumptions remain prudent as they do not assume the possibility for large order advance payments in defence.

• Divestments from Cabin are gathering pace, as the group is expecting stronger prices in Seats to boost revenues and profit margins in the coming year and beyond. Cabin has more limited upside and is set to rebound to HSD margin, hence the decision to exit. Divestment is complicated by AIFR's keenness to secure supply and therefore prefers industrial solutions.

How to profit:

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Tyler Durden Fri, 06/19/2026 - 06:15

Sweden Passes Law To Revoke Residence Permits From Migrants Who Fail 'Good-Behavior' Test

Tyler Durden — Fri, 19 Jun 2026 09:30:00 +0000

Sweden Passes Law To Revoke Residence Permits From Migrants Who Fail 'Good-Behavior' Test

Via Remix News,

Sweden has passed a new migration law that will allow residence permits to be refused or revoked if foreign nationals are deemed not to have lived in an orderly manner, marking another major tightening of the country’s immigration system.

The Swedish Parliament adopted the government’s amendments to existing immigration laws on Monday by 302 votes to 44, with the Left Party and the Green Party voting against the measure. The changes will mainly come into force next month.

Under the new rules, a foreign national’s conduct will carry greater weight when authorities decide whether to grant, extend, or revoke a residence permit. The law does not set out an exhaustive list of behaviors that will be treated as unacceptable, leaving the Migration Agency to assess cases individually. It means that an immigrant who may not hold a criminal record but has acted in a disorderly manner in other ways could be told to leave.

Decisions can be appealed to a migration court.

Government representatives and investigators have cited several examples of conduct that may count against an applicant, including failing to follow Swedish laws and regulations, ignoring decisions by public authorities, systematically avoiding debts or fines, working illegally, failing to pay taxes, criminality, and links to extremist organizations.

Migration Minister Johan Forssell defended the proposal when it was presented in March, saying Sweden should demand more from those seeking to remain in the country.

“Anyone who doesn’t make the effort to do the right thing shouldn’t be able to count on staying,” Forssell said.

The measure forms part of a broader shift in Swedish migration policy under the current government, which has moved to make residence, citizenship and asylum rules more restrictive.

Earlier this month, Parliament also approved the removal of permanent residence permits for several asylum-related categories, including people granted protection, long-term residents in Sweden, and their family members.

Sverigedemokraterna levererar på våra vallöften! I dag har riksdagen röstat ja till dubbla straff för gängkriminella, ett återinfört tjänstemannaansvar och vandelskrav för uppehållstillstånd. 🇸🇪 pic.twitter.com/MNxX5n4Tf9
— Sverigedemokraterna (@sdriks) June 15, 2026

Hailing the move, the right-wing Sweden Democrats wrote on X, “The Sweden Democrats are delivering on our election promises! Today, the Swedish parliament voted yes to double penalties for gang criminals, the reintroduction of official liability, and character requirements for residence permits.”

While the party is not in government, it props up the current administration on the proviso that restrictive immigration reforms continue to be implemented.

Earlier this year, Sweden also passed a strengthened return package giving police and migration authorities more tools to enforce deportation decisions. Several public authorities will be required to share information with police if they suspect a foreign national has no right to remain in the country. The package also expands the use of fingerprints, photographs, and checks of mobile phones in migration cases.

Other recent changes include stricter work-permit rules, including a salary threshold of at least 90 percent of the Swedish median salary for most applicants, and tougher citizenship rules.

The ordinary residence requirement for citizenship recently rose from five to eight years, alongside tougher requirements on self-sufficiency, conduct and knowledge of the Swedish language and society.

The government also increased voluntary repatriation grants at the start of the year, allowing eligible adults with protection-related residence permits to receive up to 350,000 Swedish kronor if they return permanently to their country of origin.

Read more here...

Tyler Durden Fri, 06/19/2026 - 05:30

Suckers? 44% Of EU Citizens Feel Well-Protected In The Digital World

Tyler Durden — Fri, 19 Jun 2026 08:45:00 +0000

Suckers? 44% Of EU Citizens Feel Well-Protected In The Digital World

While the European Union has taken a global lead in regulating the digital economy, survey data paints a mixed picture of the effectiveness of those efforts.

As Statista's Felix Richter details below, according to a recent Eurobarometer survey, 83 percent of EU citizens consider it important for authorities to ensure that AI and digital technologies respect European rights and values, suggesting broad public support for a strong regulatory framework.

You will find more infographics at Statista

At the same time, only 44 percent say they feel well protected by the EU in the digital world.

The results point to a gap between the bloc’s regulatory ambitions and how secure citizens actually feel online.

In other words, while there is broad backing for stricter rules, many Europeans remain unconvinced that existing measures are fully effective in practice.

Tyler Durden Fri, 06/19/2026 - 04:45

Hegseth Orders Review Of US Force Posture In Europe, Warns NATO Laggards Of Consequences

Tyler Durden — Fri, 19 Jun 2026 08:00:00 +0000

Hegseth Orders Review Of US Force Posture In Europe, Warns NATO Laggards Of Consequences

Authored by Tom Ozimek via The Epoch Times,

U.S. Secretary of War Pete Hegseth on June 18 announced a six-month review of U.S. force posture and basing in Europe, warning that NATO allies failing to meet defense spending commitments could face consequences as Washington pushes the alliance toward what he called a new era of burden-sharing.

Speaking at a meeting of NATO defense ministers in Brussels, Hegseth said the review would examine America’s military footprint in Europe and help ensure that European allies assume primary responsibility for the continent’s conventional defense.

“I’m announcing today a six-month Department of War review that will examine America’s force posture and basing in Europe,” Hegseth said.

The review comes as the Trump administration is pushing NATO members to increase defense spending and take over capabilities long provided by the United States.

Earlier this month, NATO officials disclosed that the United States would no longer assign certain capabilities—including an aircraft carrier strike group, support ships, aerial refueling aircraft, and dozens of combat aircraft—to NATO crisis-response plans.

The Trump administration has said that the United States must preserve greater military flexibility as it prepares for the possibility of simultaneous conflicts, particularly in the Indo-Pacific region.

Hegseth described the U.S. force posture review as part of a broader transformation of the alliance into “NATO 3.0,” a return to what he characterized as NATO’s original mission as a hard-edged military alliance focused on deterrence and warfighting.

“It will be designed to ensure that NATO is moving fast and irreversibly toward Europe leading, stepping up to take primary responsibility for the defense of Europe, stepping up to ensure our forces are postured for America’s global needs,” Hegseth said.

Although Hegseth did not question the U.S. commitment to NATO’s Article 5 collective defense clause, he indicated that allies failing to meet spending targets could see reductions in U.S. contributions.

“Going forward, our annual NATO dues will be contingent on other countries meeting their defense spending targets,” he said. ”Where other allies do not spend with urgency, our dues contributions will go down. ... It’s a review that some countries will fail and others will pass with flying colors.”

NATO 3.0

Hegseth sharply criticized what he described as decades of underinvestment by European allies.

“For too long, NATO has been a paper tiger and a one-way street,” he said. “No more.”

He argued that after the Cold War, NATO drifted away from its core military mission and toward issues unrelated to deterrence and defense. He described an era in which the alliance had lost its way by focusing on “gender equity and climate change and defense austerity.”

Instead, he said, the alliance must return to being “a real military alliance that’s focused on hard power and real deterrence.”

Hegseth said European allies had made progress in boosting military spending, citing NATO’s new benchmark of spending 5 percent of gross domestic product on defense and related investments.

He also highlighted planned increases in U.S. defense spending, saying that U.S. President Donald Trump had committed to defense budgets exceeding $1 trillion in 2026 and $1.5 trillion in 2027.

“We will lead and exceed our own NATO spending standards,” Hegseth said.

US Contributions Already Cut

The review comes weeks after Washington informed allies that it would reduce certain contributions to NATO’s force model, a planning framework that assigns military capabilities to respond to crises and defend alliance territory.

“In May, the Department of War told allies that we’re reducing our contributions to the NATO force model,” Hegseth said, noting that some allies had already begun stepping in to fill the gaps.

NATO Secretary-General Mark Rutte holds a news conference ahead of a defense ministers' meeting at the alliance's headquarters in Brussels on June 17, 2026. Yves Herman/Reuters

NATO Secretary-General Mark Rutte confirmed on June 18 that those reductions have already taken effect.

“The question yesterday came up: Is this immediate or not?” Rutte told reporters before the ministerial meeting. “It is immediate.”

Rutte clarified that the changes relate to NATO planning assumptions rather than actual wartime commitments.

“Why I’m a little bit reluctant to say this is because it is a planning tool,” he said. “So what would happen in reality? If war would break out ... all allies, including the U.S., will max out what they can do to make sure we can fight the war.”

Despite the changes to force planning, NATO officials said that the alliance’s nuclear deterrence posture remains intact.

In a statement following a June 18 meeting of NATO’s nuclear planning group, allies reaffirmed that they maintain a “safe, secure, effective, and credible nuclear posture to preserve peace, prevent coercion and deter aggression.”

They described the alliance’s strategic nuclear forces as the “supreme guarantee of Allied security” that underpins NATO’s deterrence architecture.

Tyler Durden Fri, 06/19/2026 - 04:00

Is Trump Preparing To "Escalate To De-Escalate" With Russia?

Tyler Durden — Fri, 19 Jun 2026 03:25:00 +0000

Is Trump Preparing To "Escalate To De-Escalate" With Russia?

Authored by Andrew Korybko,

He feels personally insulted by Putin rejecting his proposal to freeze the conflict in exchange for a resource-centric strategic partnership and also, whether one agrees with him or not, senses weakness after the US built a “cordon sanitaire” around Russia over the past year.

Trump signed the “G7 leaders’ statement on geopolitical issues” agreeing “to increase the delivery of air defence capacities, additional systems and interceptors, and long-range capabilities. We are also ready to consider extending to Ukraine the benefit of licenses to allow for an increase in Ukraine’s military production…we will strengthen our sanctions, including those on the oil and gas sectors.” This amounts to him preparing to “escalate to de-escalate” with Russia, the reason for which will now be explained.

From Trump’s perspective, which is an explanation but not an excuse in case anyone misinterprets the following, Putin wasted his time these nearly 18 months by talking about peace but rejecting Trump’s proposal to freeze the conflict in exchange for a resource-centric strategic partnership.

Likewise, from Putin’s perspective, Trump reneged on the reported “Spirit of Anchorage” by declining to coerce Zelensky into withdrawing from Donbass in exchange for Putin then declaring a full ceasefire.

Putin accordingly carried on with his special operation, albeit while still eschewing any escalation thereof due to his belief (no matter how outdated some of his supporters think that it’s since become) that Russians and Ukrainians are brothers, which Trump considered to be an insult.

It thus wasn’t the Europeans or Ukrainians who convinced him to renege on the reported “Spirit of Anchorage”, but his ego after he felt offended that Putin rejected his abovementioned proposal to his face in Anchorage.

In retrospect, Trump already had his eyes on Venezuela and Iran once again too, which is why he held off on “escalating to de-escalate” till both of those were wrapped up.

Meanwhile, he implemented his Neo-Reagan Doctrine of rolling back Russian influence worldwide with a focus on Russia’s entire southern periphery in the South Caucasus and Central Asia, which completed Russia’s strategic encirclement. A “cordon sanitaire” has now been established around the entire country.

This US-organized geostrategic construct was built in the Arctic-Baltic through UK-led efforts, Central Europe through Polish-led efforts, along its entire southern periphery through Turkish-led efforts, and Northeast Asia through Japanese-led efforts. Trump was therefore almost certainly advised by the deep state that now is the perfect moment to intensify pressure on Russia so as to coerce it into unilateral concessions for ending the Ukrainian Conflict and consequently alleviating some of this pressure.

Whether or not Putin will comply remains a matter of debate, but the aforesaid uncertainty doesn’t mean that Trump wasn’t convinced that now is the perfect time to “escalate to de-escalate” upon sensing what he truly believes to be weakness.

The risk is that Putin finally abandons his belief in the brotherhood of Russians and Ukrainians to reciprocally escalate, possibly even going as far as limited conventional strikes against NATO members to call what he might believe is the big bluff about Article 5.

Unless Russia either capitulates to the US’ demands or there’s a diplomatic breakthrough whereby a balance of interests is reached through a series of mutual compromises, the first of which is improbable while the latter is possible even if unlikely, then a major escalation in NATO-Russian tensions is expected.

Trump ultimately settled for less than he demanded from Iran despite earlier threatening to destroy its civilization if it didn’t unconditionally surrender so he might once again “chicken out” and cut a deal.

Tyler Durden Thu, 06/18/2026 - 23:25

The Cost Of Helium-3: Earth Sources Vs The Moon

Tyler Durden — Fri, 19 Jun 2026 03:00:00 +0000

The Cost Of Helium-3: Earth Sources Vs The Moon

When it comes to Helium-3, the biggest cost divide is between Earth and the Moon. Potential sources range from tritium decay and terrestrial helium wells on Earth to lunar regolith on the Moon. Today, Earth-based sources remain far easier and cheaper to access.

This graphic, created by Visual Capitalist's Cody Good in partnership with Pulsar Helium, compares major potential sources of Helium-3 by cost, scalability, and accessibility. It’s part three of four in the Helium 3: From Theory to Opportunity series, delivering key He-3 insights for investors tracking deep tech, critical minerals, and advanced computing.

The Extraction Cost of Helium-3

Looking at cost alone, Earth-based sources currently have a major advantage over Moon-based He-3.

Source: Pulsar Helium; CRS R41419 (Shea & Morgan, 2010); Niechciał et al., Energies (2020); Thunder Said Energy; NASA OIG; CLPS contract data; USGS Keszthelyi et al. (2023); Smith‑Vaniz et al. (2026); Interlune..

Values reflect order‑of‑magnitude estimates from market pricing (tritium), thermodynamic separation floors (Pulsar), and CLPS‑based transport floors (lunar), using simplified assumptions for grade, throughput, and infrastructure.

Tritium decay is an existing Earth-based source, tied to nuclear weapons stockpiles. The tritium used in warheads decays into He-3 and is recovered during processing; however, supply is limited by nuclear stockpiles and government control.

Lunar regolith refers to the Moon’s surface material, where He-3 is believed to have accumulated from solar wind particles over time. Extracting He-3 would involve mining the Moon’s surface material, processing it to release gases, separating the He-3, and then returning it to Earth.

Pulsar sits between these two extremes by accessing Earth-based helium deposits using similar drilling technology as used for natural gas wells. The cost estimate is based only on the theoretical energy needed to separate He-3 from a gas stream, and excludes capex, labour, and other operating costs.

Comparing Source Scalability

Cost is only one part of the He-3 supply story. Each source also has a very different path to scale.

Tritium Decay: Low scalability, because supply is capped by nuclear stockpiles.
Pulsar Helium: Moderate scalability, with the potential to scale through terrestrial wells.
Lunar Regolith: High theoretical scalability, based on a large inferred resource on the Moon.

For tritium, without government subsidies, the price grows significantly further reducing scalability and accessibility.

How Easy is Helium-3 to Access?

Accessibility is the other major difference between Earth and lunar sources.

Tritium Decay: Moderate accessibility through existing infrastructure, but largely government-controlled.
Pulsar Helium: Moderate accessibility, with earth-based sourcing.
Lunar Regolith: Very low accessibility, with no current mining or return logistics.

Lunar He-3 may become more competitive over time, but for now, the only sources available are Earth-based.

Helium 3: From Theory to Opportunity

The rising demand for He-3 is putting new pressure on supply. Though lunar mining may one day become part of the long-term story, the near-term opportunity is much closer to home.

For investors, the key question is not just how much He-3 exists, but how realistically it can be produced and delivered. Scalability and accessibility shape how quickly a resource can move from concept to market.

Tyler Durden Thu, 06/18/2026 - 23:00

Pentagon Restores Pacific Command Name, Reversing 2018 'Indo-Pacific' Rebrand

Tyler Durden — Fri, 19 Jun 2026 02:35:00 +0000

Pentagon Restores Pacific Command Name, Reversing 2018 'Indo-Pacific' Rebrand

Authored by Tom Ozimek via The Epoch Times,

The Pentagon said on June 16 that it was restoring the name U.S. Pacific Command, reversing a 2018 decision that rebranded the command as U.S. Indo-Pacific Command to reflect the growing strategic importance of India and the Indian Ocean in U.S. defense policy.

The Department of War said in a statement that the command, known as U.S. Indo-Pacific Command (INDOPACOM) since 2018, would officially revert to its previous designation, U.S. Pacific Command, or USPACOM, a name it carried for more than seven decades before the change.

War Secretary Pete Hegseth highlighted the move on social media, writing, “U.S. Pacific Command...is back.”

The Pentagon said the decision was intended to restore the command’s historical identity and military heritage rather than to signal any change in mission, geographic scope, or strategic priorities.

“Restoring the legacy USPACOM designation honors the command’s deep historical roots, fostering a sense of pride and collective spirit among all who serve in the Pacific,” the department said in a statement.

The Pentagon further clarified that the command’s area of responsibility, stretching from the waters off the U.S. West Coast to the western border of India, remains unchanged, as does its commitment to maintaining a “free and open theater alongside regional allies and partners.”

The move restores the name under which the command operated from its establishment in 1947 until May 2018.

The Pentagon did not provide a detailed explanation for the decision beyond citing the command’s historical legacy.

The name change quickly drew scrutiny in India.

Nirupama Rao, India’s former foreign secretary and ambassador to Washington, said in a post on X that the key question raised by the decision was whether the United States still viewed India as a “co-architect of regional order or simply as one useful actor among many in advancing American objectives.”

The U.S. Indo-Pacific Command (INDOPACOM) is the largest of the Department of War’s six geographic joint combatant commands, with an area of operation that stretches from its Pearl Harbor headquarters west across two oceans to the Arabian Sea. Department of War/Epoch Times Screenshot

Rao said the renaming came amid a series of recent developments, such as “cooler optics” at the G7 summit in France and the deaths of three Indian sailors in a U.S. strike on an oil tanker near the Strait of Hormuz. The U.S. military said the vessel had violated its blockade on Iranian ports.

Taken together, these and other developments could suggest a shift toward a more transactional phase in U.S.–India relations, she suggested.

“None of these individually proves a strategic rupture,” Rao wrote. “But collectively they suggest that the exuberant phase of India–US relations may be ending. The relationship is becoming more normal, more transactional, and perhaps more difficult.”

Shashi Tharoor, an Indian member of Parliament and former minister of state, questioned whether the move was a “nail in the coffin” for the Quad, the four-country grouping made up of Australia, India, Japan, and the United States.

The Pentagon has given no indication that the change reflects any downgrading of ties with India.

U.S. Secretary of War Pete Hegseth speaks at the IISS Shangri-La Dialogue security summit in Singapore on May 30, 2026. Edgar Su/Reuters

In remarks at the Shangri-La Dialogue in Singapore last month, Hegseth described India as “a critical anchor to hold the line” and praised the country’s military modernization efforts and growing defense-industrial cooperation with the United States.

“We’ve also committed to pursuing co-production with India to advance capabilities like Javelin anti-tank guided munitions,” Hegseth said, describing the moves as among a number of “real tangible steps to improve the collective readiness” of U.S. forces.

While the practical implications of the name change seem limited, the decision reverses what was widely seen as a visible symbolic shift in U.S. regional strategy rather than a mere bureaucratic adjustment when the 2018 switch was made.

Then-Defense Secretary Jim Mattis announced the change during a command transition ceremony in Hawaii, saying it reflected the “increasing connectivity” between the Indian and Pacific oceans and underscored Washington’s commitment to the broader Indo-Pacific region.

Former U.S. Secretary of Defense General Jim Mattis speaks at a Reuters Newsmaker event in New York on Sept. 9, 2019. Gary He/Reuters

At the time, Mattis described the Indo-Pacific as a region stretching “from Hollywood to Bollywood” and highlighted the growing importance of the Indian Ocean to U.S. strategic planning.

Describing the 2018 National Defense Strategy as a “roadmap for the American military,” Mattis said at the time that the strategy “acknowledges the Pacific challenges and signals America’s resolve and lasting commitment to the Indo-Pacific.”

The Trump administration’s 2026 National Defense Strategy repeatedly refers to the “Indo-Pacific” and identifies deterring China in the region as one of the military’s primary objectives. The document describes the Indo-Pacific as the world’s largest and most dynamic economic area and calls for maintaining a favorable balance of power there.

Buildings and structures sit on an artificial island built by China in the Spratly Islands in the South China Sea on Oct. 25, 2022. Ezra Acayan/Getty Images

“We will deter China in the Indo-Pacific through strength, not confrontation,” Hegseth wrote in the document, which further states that the U.S. military would act to support “strategic stability” with Beijing while focusing on “deconfliction and de-escalation.”

“But we will also be clear-eyed and realistic about the speed, scale, and quality of China’s historic military buildup,” the 2026 strategy states. “Our goal in doing so is not to dominate China; nor is it to strangle or humiliate them. Rather, our goal is simple: To prevent anyone, including China, from being able to dominate us or our allies.”

Tyler Durden Thu, 06/18/2026 - 22:35

Which States Brew The Most Craft Beer?

Tyler Durden — Fri, 19 Jun 2026 02:10:00 +0000

Which States Brew The Most Craft Beer?

American craft brewers produced roughly 22 million barrels of beer in 2025, the equivalent of more than 7 billion 12-ounce cans. That output is concentrated in a few key states.

This map, via Visual Capitalist's Niccolo Conte, shows the barrels of craft beer produced in every U.S. state in 2025, based on data from the Brewers Association.

Figures reflect the association’s June 2026 revision and cover all 50 states plus Washington, D.C.

To count as craft, a brewery must produce no more than 6 million barrels per year and be less than 25% owned by a large alcohol company. One barrel equals 31 gallons, or roughly 330 twelve-ounce cans.

California Brews Nearly One in Every Six U.S. Craft Beers

California tops the nation with 3.45 million barrels of craft beer brewed in 2025. The state’s 939 craft breweries are also the most in the country, well ahead of second-place Pennsylvania’s 538.

Pennsylvania ranks second in volume at 2.0 million barrels, with much of that total coming from Yuengling, America’s oldest operating brewery, founded in 1829, and its largest craft brewer by volume.

The data table below shows each state’s total production of craft beer in 2025 in barrels:

Rank	State	Barrels of Craft Beer Produced (2025)
1	California	3,450,329
2	Pennsylvania	2,004,382
3	Texas	1,422,277
4	Ohio	1,298,489
5	New York	1,281,220
6	Florida	1,153,556
7	Oregon	1,109,391
8	Colorado	854,707
9	Massachusetts	812,974
10	North Carolina	772,964
11	Wisconsin	609,271
12	Georgia	601,462
13	Washington	533,296
14	Minnesota	466,625
15	Connecticut	450,232
16	Illinois	409,589
17	Vermont	357,138
18	Virginia	342,075
19	Maine	338,405
20	Missouri	284,297
21	Michigan	267,660
22	Arizona	229,212
23	Indiana	222,088
24	Montana	216,992
25	Delaware	186,803
26	Hawaii	179,149
27	Maryland	176,644
28	Tennessee	174,083
29	New Jersey	161,094
30	Louisiana	155,643
31	Iowa	134,108
32	Alaska	133,395
33	New Mexico	132,852
34	South Carolina	125,086
35	Kentucky	121,865
36	Utah	102,241
37	New Hampshire	88,320
38	Alabama	80,869
39	Arkansas	71,520
40	Oklahoma	69,318
41	Idaho	64,945
42	Wyoming	63,130
43	Rhode Island	59,768
44	Nevada	54,683
45	Nebraska	46,358
46	Kansas	35,059
47	District of Columbia	30,036
48	West Virginia	21,562
49	South Dakota	21,183
50	North Dakota	19,051
51	Mississippi	18,262

In total, seven states: California, Pennsylvania, Texas, Ohio, New York, Florida, and Oregon, each brewed more than 1 million barrels in 2025. Together, they accounted for 53% of all U.S. craft beer production.

At the other end of the list, Mississippi brewed 18,262 barrels of craft beer in 2025, the least of any state.

Big States’ Beer Brewing and What Defines Craft

Population explains much of the order, as the four most populous states, California, Texas, Florida, and New York, all rank in the top six, but not all of it. Ohio’s 1.3 million barrels edge out far larger New York and Florida, while Illinois, the sixth-most populous state, ranks just 16th at 409,589 barrels.

Smaller states punch above their weight, too: Vermont, the second-smallest state by population, brewed 357,138 barrels in 2025, out-brewing far larger Virginia and Michigan, with Maine close behind at 338,405. Demand varies just as much as supply, with Americans’ alcohol spending per capita differing widely from state to state.

Because the Brewers Association’s definition hinges on independent ownership, state totals can shift when breweries change hands. Colorado’s New Belgium Brewing, in 2019, and Michigan’s Bell’s Brewery, in 2021, were both acquired by Lion, a subsidiary of Japan’s Kirin. This moved their volumes out of the craft column and dented both states’ totals.

That helps explain why Michigan’s 410 craft breweries produced just 268,660 barrels in 2025, ranking the state 21st by volume.

If you enjoyed today’s post, check out Which States Have the Most Breweries Per Person? on Voronoi.

Tyler Durden Thu, 06/18/2026 - 22:10

Washington's Business Exodus

Tyler Durden — Fri, 19 Jun 2026 01:45:00 +0000

Washington's Business Exodus

Authored by Mark Harmsworth via The Washington Policy Center,

Washington state’s business climate continues to deteriorate under the weight of record tax increases and burdensome regulations.

A spring 2026 survey by the Association of Washington Business reveals alarming trends.

Nearly one in four employers (24 percent) are now actively considering relocating their businesses out of state, up sharply from 17 percent in the previous quarter and nearly triple the level from winter 2025.

Another 55 percent of business leaders are considering moving their personal residences elsewhere, citing the state’s escalating tax burden as the top challenge. This flight is no surprise. Washington’s business tax climate has plummeted from sixth-best in the nation in 2014 to near the bottom today, with the state now ranking among the worst for small-business survival.

Major tax hikes enacted in 2025 are now hitting businesses hard. Starting in late 2025 and accelerating into 2026, the state increased business & occupation tax rates for service businesses and introduced new surcharges. Large companies face a 0.5 percent surcharge on taxable income of more than $250 million, while advanced computing firms saw their surcharge jump dramatically. These changes, part of the largest tax increase in state history, are projected to reduce state gross domestic product growth by up to 0.5 percent in 2026 (nearly $4.5 billion) and cut wages by billions of dollars more.

Office vacancy rates reflect the pain. Although Seattle’s downtown vacancy rate remains among the nation’s highest (hovering between 28 percent and more than 35 percent in reports from the first quarter of 2026), the broader Puget Sound region and state face similar pressures from remote work shifts and corporate relocations. Companies such as Starbucks are shifting hundreds of jobs to lower-tax states such as Tennessee. Other firms have issued worker adjustment and retraining notification notices and moved operations to Idaho, Utah, and beyond.

High-profile exits and stalled expansions are mounting. Entrepreneurs report that Washington’s combination of high taxes, regulatory red tape, and hostile policies makes growth nearly impossible.

The bottom line is that as the high earners and companies leave the state, the revenue from increased taxes, including the new income tax, will dry up and politicians in Olympia will be left scrambling for new sources of tax revenue.

The $1 million threshold on the income tax will fall in the blink of an eye.

Politicians have to restore small-business owners’ confidence in the regulatory environment and keep the promises they are making.

Just three months after signing the income tax into law, lauding it as the way forward for the state, Gov. Bob Ferguson is now claiming that he will veto any change to the exemption threshold in order to garner support to keep the legislation in place.

History indicates that Ferguson’s claim might be a little “flexible,” and that’s the problem. There is no predictability for business owners.

Until leaders recognize that businesses vote with their feet, and their payrolls, the state’s economic outlook will remain clouded.

Washington can reverse course. Lowering the tax burden, simplifying regulations, and prioritizing a pro-growth environment would stem the exodus and restore prosperity.

The data are clear. Washington is losing the competition. It’s time to compete again.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Thu, 06/18/2026 - 21:45

Amazon Plans $10B Missouri Data Center Campus

Tyler Durden — Fri, 19 Jun 2026 01:20:00 +0000

Amazon Plans $10B Missouri Data Center Campus

By Sebastian Obando of ConstructionDive

Amazon will invest $10 billion to build a data center campus in Montgomery County, Missouri, Gov. Mike Kehoe announced Monday. In addition to facility construction, the development includes roads and water infrastructure improvements, such as a new bridge over theNorfolk Southern Railway and a water system Amazon plans to transfer to the local utility after construction, according to the tech giant.

The announcement adds yet another multibillion-dollar data center project to the construction pipeline, a sign the data center construction boom has room to run.

Representational image of an Amazon data center construction site | Image courtesy: Amazon

The $10 billion Amazon investment highlights the growing role of hyperscale developers in overall U.S. construction activity.

Once complete, the campus will support cloud computing infrastructure and generate hundreds of millions in property tax revenue for Montgomery County over the next 25 years, according to the release. Amazon also worked with Ameren Missouri, the local utility company, to ensure the project bears the full cost of connecting to the electric grid, the tech giant said.

The commitment also emphasizes how these builds often carry supplementary community projects. For example, Amazon plans over $7 million in community contributions as part of its investment, according to the company. That includes $3 million toward public safety infrastructure, as well as several roadway improvements and a new bridge.

“Projects like this create lasting benefits for local communities by supporting critical infrastructure improvements, generating tax revenue for schools and public services, and strengthening the foundation for future economic growth,” said Kehoe in the release.

In addition to the infrastructure upgrades in the area, Amazon will sponsor the community’s Montgomery County Fair. The company will commit over $1 million to build a new large-scale community gathering space at the fairgrounds, according to the governor’s release.

Amazon will also invest more than $3 million in community programs focused on STEM education, skills development, sustainability and support for local nonprofit organizations, the announcement said.

“Amazon’s announcement in Montgomery County is a testament to what can be accomplished through strong collaboration and a shared commitment to growth,” said Michelle Hataway, director of the Missouri Department of Economic Development, in the release. “This project will help strengthen the region’s capacity for future development while reinforcing Missouri’s position as a destination for innovation and investment.”

Tyler Durden Thu, 06/18/2026 - 21:20

US Security Chief Says One Suspected Terrorist Is Arrested At Canadian Border 'Almost Weekly'

Tyler Durden — Fri, 19 Jun 2026 00:55:00 +0000

US Security Chief Says One Suspected Terrorist Is Arrested At Canadian Border 'Almost Weekly'

Authored by Paul Rowan Brian via The Epoch Times,

U.S. Homeland Security Secretary Markwayne Mullin says American authorities apprehend a suspected or wanted terrorist at the Canada-U.S. border "almost weekly," while warning that "fracturing" relations between the two countries could leave both more vulnerable to criminal organizations, fentanyl traffickers, and other threats.

U.S. Homeland Security Secretary Markwayne Mullin testifies before the U.S. House Committee on Homeland Security in Washington on June 3, 2026. AP Photo/Cliff Owen

Mullin made the remarks June 17 during a fireside conversation with Canada's Public Safety Minister Gary Anandasangaree at the Center for Strategic and International Studies in Washington. He added that the United States is concerned that many criminal organizations whose activity has been reduced due to enforcement at the U.S.-Mexico border are moving operations to the northern border.

"We arrest a terrorist - one either on the watch list or wanted terrorist - on our northern border almost weekly," Mullin said. "Some of the fracturing we have right now between the countries, we've got to figure it out."

Mullin was sworn in as secretary of the Department of Homeland Security on March 24, succeeding Kristi Noem after she was reposted as the special envoy for the Shield of the Americas by U.S. President Donald Trump.

'Solid Foundation'

Mullin said improving Canada-U.S. relations and building a "solid foundation" is vital to ensuring that criminals don't take advantage of a U.S.-Canada rupture in relations.

"We've got to move past our differences so we can build that solid foundation, because we have criminals, we have cartels, we have organized crime that's taken advantage of it," he added.

While Mullin warned that criminal organizations along with terror suspects and illegal immigrants are increasingly targeting the U.S. northern border, Anandasangaree said Canada has already made considerable progress in tightening border security. Illegal migration from Canada into the United States has declined by 99 percent since Ottawa introduced a plan to boost border security in December 2024, the minister stated.

"The border plan that we introduced in 2024 December, which has been implemented now over the last 18 months, is bearing fruit," he said.

Anandasangaree also highlighted close collaboration between Canadian and American authorities.

"The cooperation amongst law enforcement, whether it's DHS and Canada Border Services, or the operations centre where we're embedded in Detroit, it's critically important and we're seeing that bearing fruit for security," he said.

Concern About Cartels Moving North: Mullin

Mullin said that in addition to terrorist-related threats and illegal immigration, the U.S. government is highly concerned about the flow of fentanyl and cartel activity through its northern border.

"Over the last year we've apprehended enough fentanyl that would kill 17 million Americans on our northern border," he said.

Mullin said he believes an uptick in organized crime activity at the Canada-U.S. border is due to stricter enforcement at the U.S.-Mexico border and "pressure we're putting on the cartels" that is causing them to seek out "other areas."

"We see the amount of increase of criminal activity that's happening. And we see the same techniques that were on the southern border that are moving to the northern border," Mullin said.

He said that cooperation between the United States and Canada is "vitally important" and pointed to intelligence-sharing between the two nations as the top priority.

"Our biggest priority now is to have great partnerships with our friends to the North to be able to actively stop [illegal activity] before it grows to the point that it is in Mexico," he said, adding "the biggest issue that we've really got to work on is sharing the intel and then acting on it in a timely manner."

Canada-US Tensions

At one point, Mullin compared the Canada-U.S. relationship to marriage, saying that current tensions are similar to when he and his wife get into an argument.

"It's kind of like my wife and I when she gets really mad at me, and I'm well deserved to get mad at, sometimes I just have to stop and say, 'love you,'" he said.

"Arguing doesn't help; it only allows us to be more vulnerable for somebody else to sneak in and take my beautiful wife away from me."

Anandasangaree also emphasized close U.S.-Canada ties, saying they go beyond government cooperation to economic prosperity.

"We rely heavily on each other for both security, but as well as trade and commerce," he said, adding that much of the $900 billion of trade that takes place between the two countries annually is done "in an orderly manner that benefits both of our countries."

"What differences we have is negligible compared to what we have in common and the work that we're doing together," Anandasangaree added.

The minister also noted ongoing enhanced investments in border security in Canada including the hiring of 1,000 more RCMP and 1,000 more Canada Border Service Agency personnel announced in June last year, along with increased use of drones, helicopters, and surveillance technology at the border.

Anandasangaree also referenced close cooperation between the RCMP and FBI in working together to help lead to the arrest of accused transnational Canadian drug trafficker Ryan Wedding by Mexican authorities in January, in addition to a recent investigation by Peel Regional Police that led to 17 arrests in May.

Fentanyl

Mullin's figures for fentanyl lethality appear to be based on the U.S. Drug Enforcement Administration's calculation method for potential fentanyl deaths, which holds that 2 milligrams can be a potentially lethal dose for the average person.

Data from U.S. Customs and Border Protection showed very low fentanyl seizures at the Canada-U.S. border during the period from July 2024 through to February 2026, with Ottawa stating that "Canada is not a significant source of illegal fentanyl entering the US. Less than 1% of fentanyl seized in the US comes from Canada."

The office of Canada's Fentanyl Czar Kevin Brosseau cites U.S. statistics in noting that roughly 71,000 pounds of fentanyl were seized at the U.S.-Mexico border from 2022 to 2025, compared to approximately 134 pounds seized at the Canada-U.S. border or in its vicinity.

While Mullin emphasized the scale of fentanyl seizures at the northern border, Anandasangaree said the real source of the crisis is precursors manufactured overseas.

"The flow of fentanyl is not from the north to south or south to north; it is coming from overseas with precursors that enable dealers to manufacture and distribute in our countries," Anandasangaree said, though adding that he agreed "fentanyl and the scourge of fentanyl is impacting both of our countries."

Looking Ahead

In terms of the future of the Canada-U.S. relationship, both officials said they are confident that cooperation will continue despite political disagreements.

"If there are irritations, we need to just work through them. We will work through them," Anandasangaree said.

Mullin echoed this, saying that despite current tensions, the two countries remain indispensable partners.

"What we have to do is quit focusing on our differences and start thinking about what we have in common," Mullin said.

Tyler Durden Thu, 06/18/2026 - 20:55

Infant Mortality Drops To All-Time Low In United States

Tyler Durden — Fri, 19 Jun 2026 00:30:00 +0000

Infant Mortality Drops To All-Time Low In United States

Infant mortality has dropped to the lowest level ever recorded in the United States, according to new preliminary data from the CDC - though it's still higher than in some other countries. According to the data, 5.36 infants per 1,000 live births died, down from 5.54 in 2024 and 5.63 in 2023. The results are based on death and birth certificates.

A baby in a hospital in a file photograph. Fred Dufour/AFP via Getty Images

Infants is defined as children who have not yet reached their first birthday.

According to researchers, the decline is statistically meaningful and translates into hundreds of fewer infant deaths per year.

"This is an encouraging data point, and we hope that this trend will continue," said Dr. Michael Warren, chief medical and health officer for the March of Dimes.

Warren said it was difficult to pinpoint what was driving the decline.

As the Epoch Times notes further, the overall numbers have been going down. U.S. infant deaths fell to about 19,350 last year, according to provisional CDC data that may rise a little as additional analysis is completed. The final tally is still expected to be down from about 20,050 in 2024 and about 20,160 in 2023, according to the agency.

Leading causes of infant mortality are birth defects, preterm birth and low birth weight, sudden infant death syndrome, unintentional injuries such as car accidents, and pregnancy complications, the CDC says.

The new data is not yet available by state. In 2024, infant mortality rates varied widely across states.

The CDC said this week in a report analyzing infant mortality data from 2024 that Mississippi had the highest infant mortality rate at 9.65 deaths per 1,000 births, and New Hampshire had the lowest, at just under 3 per 1,000.

"These differences are reflective of a variety of reasons related to access to care, community factors, and policies that improve health and outcomes," Warren said.

Not The Lowest

Worldwide, the infant mortality rate is 28 per 1,000 live births, according to the World Bank. The new U.S. rate is well below the average across countries.

A number of developed countries, though, boast lower rates, including Australia, Belgium, and Hungary.

From 2007 to 2022, infants were 78 percent more likely to die in the United States than in other high-income countries, researchers said in a 2025 paper.

Older children in the United States also faced higher odds of dying than kids in the other countries with high incomes.

In 2023, U.S. health officials began recommending two new measures aimed at protecting infants: a lab-made antibody shot for infants that helps the immune system fight off the respiratory syncytial virus, and an RSV vaccine for women between 32 weeks and 36 weeks of pregnancy.

The Associated Press contributed to this report.

Tyler Durden Thu, 06/18/2026 - 20:30

More Gunmakers Relocate To GOP States

Tyler Durden — Fri, 19 Jun 2026 00:05:00 +0000

More Gunmakers Relocate To GOP States

Authored by Kevin Stocklin via The Epoch Times,

Firearms manufacturers Ruger and Rideout Arsenal are heading south, continuing a trend of firearms companies leaving Democrat-run states.

On June 10, Virginia-based Rideout Arsenal, a firearms designer and manufacturer, announced that it would invest $22 million to build a new manufacturing facility in Thomasville, Georgia. The investment would create 120 new jobs over the next several years, the company said.

"This relocation was not something we originally planned to pursue," Rideout founders Travis and Kelsey Rideout said in a statement.

"The reality is that recent anti-gun legislation in Virginia created a significant uncertainty for our company and ultimately forced us to look for a state where we could continue operating, investing, and growing with confidence."

These moves follow a trend in which firearms manufacturers such as Remington, Winchester, Stag Arms, Magpul, Troy Industries, Smith & Wesson, Dark Storm, and others have relocated over the past decade from left-leaning states such as New York, Massachusetts, Illinois, and Colorado to conservative states such as Florida, Texas, Georgia, and Tennessee.

"Firearm businesses are migrating to other states primarily because states like Virginia, Connecticut, Colorado, Massachusetts, and others are becoming increasingly hostile to Second Amendment rights and the ability for these companies to produce firearms in their states," Mark Oliva, public affairs director for the National Shooting Sports Foundation, told The Epoch Times.

"While Virginia was the latest example with Rideout Arsenal moving to Georgia, the move of Smith & Wesson Brands, Inc., to move their headquarters and expand production to Tennessee underscores the importance of firearm businesses finding greener pastures."

With Democrats in control of the legislature and the governorship, Virginia recently passed an array of new gun control laws, effective on July 1, including among other things a ban on the sale of various semi-automatic firearms, and certain large-capacity magazines, unserialized firearms, as well as new restrictions on carrying firearms in public places. Virginia also enacted laws to expand civil liability for gun manufacturers and dealers.

In welcoming Rideout to his state, Georgia Gov. Brian Kemp stated that his state's "pro-business approach, skilled workforce, and enduring support for constitutional freedoms make us an ideal home for manufacturers like Rideout Arsenal."

In May, it became public that Ruger had relocated its head office from Fairfield, Connecticut, to Mayodan, North Carolina, at the start of the year. Although the company has not issued a public statement, it listed Mayodan as its location in its quarterly earnings report and has since confirmed the move.

Connecticut, once known as the "arsenal of democracy," had been home to several of America's largest firearms manufacturers, including Smith & Wesson, Winchester, and now Sturm, Ruger & Co. Since the 2012 massacre of 26 first-grade children and teachers at Sandy Hook School in Newtown, the state has passed a series of laws to limit access to guns. In addition, the state has been the site of a number of lawsuits against gun makers, such as the $73 million settlement of a lawsuit brought by the parents of Sandy Hook children against Remington and threats of civil litigation against Ruger in November 2025.

Moving out of left-leaning states may lead to a more business-friendly environment, but it will do little to protect firearms manufacturers from lawsuits, Oliva said.

"The threat of litigation is still alive, since states like New Jersey and New York have pursued laws that allow for loosely designed 'public nuisance' lawsuits to skirt the Protection of Lawful Commerce in Arms Act," Oliva said. "The move to these states is more about the ability to produce the firearms today's gun owners want and the legislative threats to that business."

The 2005 Protection of Lawful Commerce in Arms Act prohibits lawsuits against manufacturers or dealers of firearms and ammunition for harm solely caused by criminal misuse of their products.

Tyler Durden Thu, 06/18/2026 - 20:05

Bad News Overload? News Avoidance On The Rise

Tyler Durden — Thu, 18 Jun 2026 23:40:00 +0000

Bad News Overload? News Avoidance On The Rise

These days more than ever, it often feels like there’s no end to bad news.

In the age of social media and constant exposure to news, doom scrolling can take a heavy toll on people’s mental wellbeing.

As a consequence, more and more people actively try to avoid the news or at least limit their exposure to it.

As Statista's Felix Richter shows in the chart below, according to the Reuters Institute’s latest Digital News Report, an average of 42 percent of respondents from 48 countries included in the survey said that they sometimes or often actively avoid the news, a significant increase from 29 percent in 2017, when the question was first asked.

You will find more infographics at Statista

Selective news avoidance, as the Reuters Institute calls it, became significantly more widespread across all markets in recent years, with half of all respondents from the United Kingdom and 45 percent of U.S. respondents making an effort to reduce their news intake.

The Reuters Institute finds that news avoidance is often linked with low trust in the news and that there are generally two types of news avoiders: consistent avoiders who typically have low education levels and little to no interest in the news; and selective avoiders who struggle with news overload and try to insulated themselves from certain topic to protect their mental wellbeing.

Tyler Durden Thu, 06/18/2026 - 19:40

Waste Of The Day: Town Manager's Snacking Spree

Tyler Durden — Thu, 18 Jun 2026 23:15:00 +0000

Waste Of The Day: Town Manager's Snacking Spree

Authored by Jeremy Portnoy via RealClearInvestigations,

Topline: Michael Boaz, the former town manager of Pilot Mountain, North Carolina, made hundreds of unauthorized purchases on his city credit card from 2022 to 2024, including bullets and a hotel for his family vacation, according to a state audit released in May.

Boaz was fired in 2024 when the allegations first came to light. Now that a state audit confirmed the questionable purchases, he has been indicted for felony embezzlement.

Key facts: Boaz' questionable purchases totaled $18,426, much of which was spent on food. He spent $12,897 at pizzerias, barbecue restaurants, an oyster bar, Chili's, Jersey Mike's Subs and many more. He also placed 34 DoorDash orders for $1,576.

Boaz bought $2,300 worth of other items, including ammunition, a massage and a hotel for a family vacation.

Credit card records show Boaz claimed the purchases were for work meetings, but he did not provide documentation and could not remember who attended the alleged meetings, according to the audit.

All checks and balances were ignored. The town's finance officer paid Boaz' credit card bill without reviewing the transactions, and the town's board of commissioners failed to review credit card statements even though the town's credit card policy requires them to do so.

Boaz was also paid $37,936 in unused vacation leave when he resigned in 2024. The audit found that $12,804 of that payout was improper.

Search all federal, state and local salaries and vendor spending with the world's largest government spending database at OpenTheBooks.com.

Background: Pilot Mountain, population 1,500, is located about 30 miles northwest of Winston-Salem. Boaz was hired as town manager in 2019 and earned $108,000 in 2024, records show.

Summary: The town of Pilot Mountain paid for thousands of dollars in meals, bullets and travel that auditors say had no legitimate public purpose. The town also failed to follow basic oversight rules that could have prevented or caught the spending earlier.

The #WasteOfTheDay is brought to you by the forensic auditors at OpenTheBooks.com.

Tyler Durden Thu, 06/18/2026 - 19:15

Removing AI Spyware From Your Google Account

Tyler Durden — Thu, 18 Jun 2026 22:25:00 +0000

Removing AI Spyware From Your Google Account

Authored by Thomas Neuburger via Naked Capitalism,

Yves here. News you can use! And advice that helps readers limit their exposure to two longstanding abuses. One is the unending efforts of the surveillance state to extend its reach. Two is the way AI companies steal original work without consent or compensation to feed into training sets.

By Thomas Neuburger. Originally published at God's Spies

The glorifyingly named Googleplex headquarters in Mountain View, California.

As most have noticed, AI is entering our lives in a very big way.

Doctor's offices are using AI to replace human scribes, which means whole visits must be recorded and saved. For how long? This can vary or be changed. And AI will soon decide whether you're too disabled to drive your own car (for that, see here).

The rush toward AI - a rush to prop up the stocks and cut employees - is producing an AI fence between you and all of the corporate entities that run your life. For example, AI now guards the door between you and your next job or loan.

AI has also entered your dealings with the state. Will you be audited this year? AI will decide. How will your Social Security struggles be handled? AI will replace the humans who deal with your needs. And of course, AI policing is already here.

AI is not only "changing what it means to be human," but for us little folks, us muppets, it's replacing the human entirely in corporate and government interactions - because money, despite its propensity for massive mistakes.

And that doesn't begin to discuss AI battlefield murder, a use no one but those in control want to grow.

Gmail And AI

Which leads us to discuss AI's intrusion into our digital lives. On most computers and websites, AI is ubiquitous. Today, let's take a look at Gmail and AI.

The latest versions of Gmail, a web-based email client, have AI mail scanning and analysis turned on. If you want AI watching, no problem. Leave it turned on.

If you want to de-AI your Gmail account - to extent you can, at least - these are the steps. I found this thanks to this Twitter account. The thread begins as follows (slight editing mine):

If you have a Gmail account, you need to read this.

Google's AI now scans your emails and attachments, bank statements, tax files, medical letters, all of it. It turned on by default, and there's a class-action lawsuit over how. [...]

Google automatically turned on AI features in Gmail, Chat, and Meet for many users in late 2025. These features can read your emails, messages, and attachments to create summaries and suggestions.

Google says your emails don't train Gemini, but some users say they never clearly agreed to these AI features being enabled. Unless you turn them off, the AI can still analyze your inbox to provide these features.

The thread details the steps. As I worked through them, I found differences between his steps and mine, so here are the steps as modified by my own experience.

Change Your Gmail Settings

Change the main Gmail and Google Workspace settings as follows:

Go to Settings - See all settings.
In your browser's search bar (Ctrl-F), search for the word "smart" (no quotes).

Find every mention of "smart" in the settings and turn it off. On my version of Gmail, that includes Grammar, Spelling, Autocorrect, Smart Compose, Smart Compose personalization, and Smart Reply. Your list may differ.
Make sure Smart Features, a major settings checkbox, is unchecked (see below).
Go to Google Workspace smart features and click on the Manage Workplace smart features settings button (above).
On the next screen, toggle everything off and click Save.

Go the bottom of the main settings page and click Save Changes (important).

Check Your Phone Settings. Delete Your Gemini History.

The writer advises doing the following as well:

Your Phone. The settings don't always sync between devices, so check the Gmail app separately.

Gmail app - Menu - Settings - Select your account - Turn off "Smart features and personalization" - Confirm.

And if you've used Gemini already:

Delete Gemini History. If you've used Gemini before, your chats may be saved, and some could be reviewed by humans.

Go to http://myactivity.google.com/product/gemini - Turn off Gemini Apps Activity - Delete Activity - All Time.

This removes your past Gemini chat history and stops future conversations from being saved.

I had no Gemini history, but that won't be true for everyone.

Does All This Stop Google From Watching You?

You could say that Google is always watching you. This is their profit model: watching and selling you ads, watching and selling your profile. It's why they're so rich.

But it seems, at least for now, that turning smart features off in your Gmail and Google Workspace account means AI is no longer used to power those feature, and indeed is turned off. In addition, as of this writing, Google claims that Gmail smart features is not a backdoor way of training its AI. At least so far.

The murdered girls of Minab, Iran (Ons Abid/AP Photo)

Tyler Durden Thu, 06/18/2026 - 18:25

Gulf Oil Is Available Again, But Asian Refiners Balk At Soaring Tanker Rates

Tyler Durden — Thu, 18 Jun 2026 22:00:00 +0000

Gulf Oil Is Available Again, But Asian Refiners Balk At Soaring Tanker Rates

Iran and the US have a peace deal? check (for 60 days, allegedly).

Strait of Hormuz open? check (for 60 days, allegedly).

Ships transiting freely? check (not really)

Massive build up of Gulf oil desperate to reach Asian refiners? check.

All great news, which means that oil should now flow freely and in huge amounts, right?

Wrong: two of Asia's largest refiners, PetroChina and Indian Oil, failed to secure very large crude carriers to lift Iraqi Basrah crude in late June, Reuters reported, while another Chinese major Sinochem is on the hunt for a ‌tanker.

The inquiries from the state energy firms followed an interim deal between the United States and Iran to end their war and reopen the Strait of Hormuz. PetroChina had sought a VLCC (which can carry up to 2mm barrels) to load from Iraq's Basrah Oil terminal between June 25 and 30. And while the Chinese major received at least six offers at worldscale points of 650 to 750, these rates were nearly triple those charged before the Iran war broke out in late February. The worldscale measure is used by the shipping industry to calculate freight rates.

"There are tankers available, but the problem is it's too expensive and there is no guarantee you can exit the strait," a PetroChina official said.

Indeed, a quick look at the latest gulf tanker rates shows that while not nearly as bad as when the war broke out, rates on tankers from the Gulf to various Asian destinations have doubled in the past weeks as buyers scramble to secure their shipments. Expect these prices to soar much higher in the coming days.

The punchline: securing supplies from the Gulf will remain complicated despite the peace deal, and not just due to the soaring tanker prices.

"It'll be ‌still ⁠difficult to fix a vessel due to the rate, and I assume that both parties need to agree to some special clause (in the contract for transiting the strait)," the source said.

On Thursday, another Chinese state major, Sinochem, sought a VLCC to load oil in the Gulf between June 20 and 30 for Asia, the shipping sources said. ⁠It was not immediately clear if the company would succeed in finding a vessel.

Remarkably, as this was taking place, India's giant oil company IOC did not receive any offers in a tender last week ⁠seeking a VLCC to lift oil from Iraq on June 22 and 23 and deliver to Paradip port on India's east coast, a Reuters source said.

IOC, India's largest ⁠refiner, subsequently issued a force majeure on the cargo.

Tyler Durden Thu, 06/18/2026 - 18:00

Bullish Or Bearish Into Year-End? BTIG & Fundstrat To Face Off

Tyler Durden — Thu, 18 Jun 2026 21:45:00 +0000

Bullish Or Bearish Into Year-End? BTIG & Fundstrat To Face Off

LIVE NOW:

https://t.co/jxITOFkt3p
— zerohedge (@zerohedge) June 18, 2026

****************************

S&P 500 and Nasdaq remain near record highs despite yesterday’s post-Fed freakout. Risk-on is still in fashion as investors remain hopeful of a lasting U.S.-Iran peace. Though the question remains: Is the rally sustainable or are markets poised for a painful reversal before year-end?

Tonight at 7pm ET, Adam Taggart of Thoughtful Money hosts a debate between two of Wall Street's closely followed technical strategists: Jonathan Krinsky, Chief Market Technician at BTIG, and Mark Newton, Head of Technical Strategy at Fundstrat.

Bull Case (Newton):

Newton sees the upward trend in tech/AI continuing higher, which will lift the broader market into 2027… even if there’s a little chop.

While he expects periods of volatility and some consolidation, easing energy prices and continued investment in artificial intelligence infrastructure will support further gains into year-end, even in the already-lofty tech/AI trade. With oil retreating sharply from wartime highs and investors increasingly focused on the long-term productivity benefits of AI (economic benefits that are real and not merely a bubble), Newton sees pullbacks as opportunities.

Oil was sent sharply lower on the news of a ceasefire, something Newton sees continuing into year end in the broader energy sector:

Energy could be a "source of real underperformance" in the months ahead.@MarkNewtonCMT of @Fundstrat tells @RemyBlaireNews healthcare and financials are his top picks, with $NKE "starting to finally show some evidence of rallying." pic.twitter.com/p2C988c584
— FINTECH.TV (@FINTECHTVglobal) June 15, 2026

Bear Case (Krinsky):

Krinsky has maintained a more cautious stance as equities push further into historically stretched territory.

While the recent peace agreement between the U.S. and Iran has boosted risk appetite and eased inflation concerns, Krinsky has argued recently that elevated valuations, particularly in tech, are due for a correction at some point… especially with a seemingly hawkish fed. Krinsky has also pointed to the recent decoupling of bond yields and oil prices, having risen in tandem until post-peace deal where yields continued rising (possibly Fed-related) while oil tanked.

Recent gains have been driven largely by AI-related technology shares, semiconductors, and the Magnificent Seven, while many other areas of the market have failed to keep pace. Both Newton and Krinsky agree on this, though only one sees it as fuel to further propel markets higher… the other sees a ticking time bomb.

Both panelists rely on technicals and regularly change their market outlooks based on data. Neither guest is a perma-bull or bear… so no broken clocks tonight.

Tune in tonight at 7pm ET on the ZH homepage, X Feed, and Youtube channel to watch live to see how they’re looking at Iran, Fed chair Warsh, and markets.

Tyler Durden Thu, 06/18/2026 - 17:45

Pentagon Taps Argonne Spinout To Connect Military Supercomputers With Major Clouds

Tyler Durden — Thu, 18 Jun 2026 21:40:00 +0000

Pentagon Taps Argonne Spinout To Connect Military Supercomputers With Major Clouds

Authored by Neetika Walter via Interesting Engineering,

The U.S. Department of Defense (DoD) has awarded Parallel Works, an Illinois-based software company spun out of Argonne National Laboratory, a contract to provide a unified platform that connects military supercomputing centers with secure commercial cloud infrastructure.

Representative stock image of a supercomputer. iStock Photos

The contract, granted under the department's High Performance Computing Modernization Program (HPCMP), will allow scientists, engineers, and acquisition professionals across the DoD to access both on-premises and cloud-based computing resources through a single interface. The goal is to speed up the development and deployment of high-performance computing (HPC) and artificial intelligence (AI) workloads used for defense research and operations.

Parallel Works said its ACTIVATE High Security Platform (HSP) will act as the control plane linking Defense Supercomputing Resource Centers (DSRCs) with commercial cloud services. The platform is designed to let users move workloads across environments while maintaining security requirements for sensitive data.

The company said researchers will be able to test and deploy workloads on emerging cloud infrastructure before those capabilities are integrated into the DoD's supercomputing centers.

Connecting Defense Computing

The platform has been approved at Impact Level 5 (IL5), one of the highest security classifications for non-classified DoD cloud environments. According to the company, it is among a small number of software platforms approved to handle export-controlled workloads, including International Traffic in Arms Regulations (ITAR) and Controlled Unclassified Information (CUI).

The system is intended to address growing demand for computing power driven by AI development, simulation workloads, and digital modernization programs across the military.

"AI-driven warfare and the ramp to digital modernization are demanding far more model-sharing options than legacy infrastructure can provide," said Keith Obenschain, Chief Technology Officer at HPCMP.

The platform offers on-demand access to cloud compute resources, allowing users to avoid traditional queue delays associated with shared supercomputing systems. It also enables organizations to expand computing capacity by distributing workloads across multiple environments and cloud providers.

Parallel Works said users will have access to cloud infrastructure from providers including Amazon Web Services, Microsoft Azure, Google Cloud, and Oracle Cloud.

Accelerating Mission Deployment

As part of the contract rollout, the Naval Research Laboratory has already implemented the platform to support weather forecasting workloads.

According to the company, the system automates forecasting workflows while securely coordinating computing resources across defense and cloud environments. The approach is intended to improve reliability, speed up processing, and help redistribute workloads when demand spikes.

"The HPCMP contract allows our platform to support a broad range of mission-critical HPC and AI workloads across the DOD teams," said Matthew Shaxted, CEO of Parallel Works.

The company said the environment can also serve as a secure testing ground for AI development tools and next-generation cloud architectures before they are adopted within the DoD's existing supercomputing infrastructure.

The contract reflects a broader push by the U.S. military to combine traditional supercomputing resources with commercial cloud services as AI models and data-intensive applications continue to increase computing requirements across defense operations.

Tyler Durden Thu, 06/18/2026 - 17:40

Illegal Alien Alleged To Be Ringleader In Terror Plot To Kill "Capitalist Elites" At UFC White House Event

Tyler Durden — Thu, 18 Jun 2026 21:20:00 +0000

Illegal Alien Alleged To Be Ringleader In Terror Plot To Kill "Capitalist Elites" At UFC White House Event

Federal prosecutors allege that Abraham Hermosillo Alvarez, a Mexican national who overstayed a B2 visitor visa and was living in Omaha, Nebraska, used the online alias "Shepherd" and was the ringleader of a failed terror attack targeting "billionaires" and "capitalist elites" at UFC Freedom 250 at the White House.

The Department of Homeland Security released a statement on Thursday morning regarding the criminal complaint, filed in the District of Nebraska, charging Alvarez with conspiracy to commit murder and conspiracy to commit an offense against the U.S.

The FBI said the investigation began after local authorities in Ohio responded to concerns about 19-year-old Tycen Proper, whose family reported that he had been stockpiling firearms, ammunition, body armor, and communicating with an online group about "missions" and "recons."

"Alvarez and his co-conspirators face federal charges of conspiracy to commit murder and conspiracy to commit violence on White House grounds. U.S. Immigration and Customs Enforcement (ICE) has lodged a detainer for Alvarez," DHS wrote in a statement.

"This illegal alien from Mexico should never have been allowed in our country. He was the ringleader of a failed terror attack targeting UFC Freedom 250 at the White House," Acting Assistant Secretary Lauren Bis wrote in a statement.

Bis added, "He and his co-conspirators now face charges of conspiracy to commit murder and conspiracy to commit violence on White House grounds. He will face justice and swiftly be removed from our country."

The Department of Justice wrote in the criminal complaint, "It was unclear if Shepherd was involved in these chat messages, but the targeting of US Congressional targets was related to the original plot that PROPER tied to Shepherd."

DHS pointed out, "Alvarez entered the United States on a B2 visitor visa and failed to depart before it expired in December 2001. The Obama Administration granted him Deferred Action for Childhood Arrivals (DACA) in 2014."

The plot pattern appears anti-government, anti-elite, anti-capitalist, conspiratorial, and revolutionary...

Hasan Piker calls on his followers to kill capitalists:

“Yeah kill them! KiII those motherfuckers and murder those motherfuckers in the streets. Let the streets soak in their fucking red capitalist blood, dude.”

Democrats are campaigning with him. pic.twitter.com/YiZxGgRkgc
— Eyal Yakoby (@EYakoby) April 9, 2026

... with rhetoric not that different from that of prominent far-left influencers that cross paths with socialist and DSA groups.

Tyler Durden Thu, 06/18/2026 - 17:20

The Judicial Resistance Fails Again

Tyler Durden — Thu, 18 Jun 2026 21:00:00 +0000

The Judicial Resistance Fails Again

Authored by Mike McDaniel via AmericanThinker.com,

Do you recall Hannah Dugan? She’s a former Milwaukee County Judge. “Former” because she, with the help of her staff, distracted ICE agents who were present to arrest and deport a violent illegal alien in her court on unrelated charges. They snuck the illegal out of the courthouse.

The agents didn’t disrupt her court. They were waiting until she was done with the illegal, who had been previously deported but reentered the country. They politely informed her of their authority and intentions and were waiting for her disposition of the illegal.

Fortunately, the agents knew what she was doing and captured the illegal after a brief foot chase. Dugan was charged and convicted, though not without substantial support from equally corrupt members of the “judicial resistance” Bar:

Graphic: X Post

Amazingly, that view of judicial immunity didn't hold up and she was removed from the bench, which, considering she was facing a federal felony, seems reasonable.

Dugan appealed, and her appeal was recently denied, which opens the way for her sentencing, which has been on hold. She faces up to five years in prison.

One would think other members of the judicial community would learn from Dugan’s “resistance.”

However, as John Belushi used to quip: “But nooooooooooooo!”

This time, the illegal hiders were in Utah:

Two former Utah court clerks have been arrested and charged after federal prosecutors alleged they used their positions inside a courthouse to help an illegal immigrant avoid a lawful arrest by Immigration and Customs Enforcement (ICE).

A federal indictment unsealed Wednesday charges Jennifer Joma, 27, and Lauren Kelsey Morrow, 26, with conspiracy to transport and harbor illegal aliens, harboring illegal aliens, and obstruction of proceedings before federal agencies. Joma also faces a separate charge of transporting illegal aliens.

The incident occurred on April 9 at the Logan City Municipal Justice Court in Utah, where both women worked as court clerks. An ICE Enforcement and Removal Operations officer entered the courthouse to arrest an illegal immigrant who was scheduled to appear for a hearing that day. After entering the courthouse, the officer left the secure area and waited in his car outside for his target to exit before attempting the arrest.

The two court clerks stopped several illegal aliens from leaving the building. Collecting the illegal the ICE agent was there to detain, and the other illegals, they guided them through secure hallways and out the back door of the courthouse, out of view of the ICE agent. In this case, no judge was apparently involved. They shut the door to the judge’s chambers to keep him from seeing what they were doing.

The government was apparently able to reconstruct what happened by viewing courthouse surveillance video:

The Justice Department described the alleged conduct in blunt terms:

“This case is about some state court clerks who abused their position of trust and took the law into their own hands by helping an illegal alien evade a lawful arrest by ICE.”

Federal prosecutors further alleged:

“Acting as self-appointed anti-ICE vigilantes, Lauren Morrow, her co-defendant Joma and others took it upon themselves to obstruct immigration proceedings and the lawful enforcement of United States immigration laws.”

The indictment states that surveillance footage captured the pair after one of the alleged trips through the courthouse. Prosecutors say the women were seen waving and smiling at a security camera, while Morrow allegedly made an obscene gesture toward it. Investigators also allege that Joma later drove three illegal immigrants away from the courthouse before returning to work.

Joma and Morrow resigned after their arrests and are facing up to 25 years in prison. Under the Biden Administration, Dugan, Joma and Morrow would surely have never been charged, but there’s a new sheriff in town:

John Huber, the ex-US Attorney for Utah, said the plot was the first he’s seen in the state.

“This is a time when people are on edge wherever you are on the political spectrum, and this issue of immigration enforcement gets people’s attention,” he told KUTV.

“I think a lesson to be learned here is that federal authorities are serious and that it’s no laughing matter to engage in conduct that rises to the level of a federal felony. This is not a joke.”

Hannah Dugan, Jennifer Joma and Lauren Morrow are presumably realizing that. Whether the rest of the “judicial resistance” will pay attention is anyone’s guess, but finding that people sworn to uphold our system of justice aren’t always above it is encouraging.

Tyler Durden Thu, 06/18/2026 - 17:00

Multiple Polls Show Warning Signs For Democrats In Upcoming Midterms

Tyler Durden — Thu, 18 Jun 2026 20:40:00 +0000

Multiple Polls Show Warning Signs For Democrats In Upcoming Midterms

Democrats have spent months telling anyone who will listen that the midterms are theirs to lose. With President Donald Trump's approval rating in the basement and conditions supposedly ripe for a blue wave, the party is feeling confident it can win both the House and the Senate in November. Polls do seem to suggest they have momentum, but a closer look at the numbers tells a very different story, and the wave that Democrats are banking on may not be coming after all.

The latest NBC News poll does show Democrats with a lead in the national congressional race. On the surface, that sounds like good news for the party. But CNN chief data analyst Harry Enten put that lead in context, and the context is the problem.

"Democrats have an edge, but compared to what we see historically, it's really not that big of a lead," Enten said.

The NBC poll puts Democrats up by five points in the national congressional vote. Five points may sound meaningful until you stack them against what those numbers looked like in actual wave years. In 2018, when Democrats flipped the House, they led by ten points at this stage. In 2006, another Democrat wave year, the lead sat at 11 points.

"It's this type of lead where you say, you know what, Democrats are ahead, but don't count your chickens just quite yet," Enten said.

And this is not a one-poll problem. Enten pointed to a pattern emerging across multiple pollsters, including NBC, Marquette University Law School, and Ipsos. All three tracked the Democrat lead from January and February into May and June, and none of them shows momentum building. NBC dropped a point. Marquette University Law School dropped three points. Ipsos held roughly flat.

"There is this group of pollsters that are out there that are just not showing the wave you might expect, given where the president's approval rating is," Enten said. "The Democrats hold these leads. But again, you have this group of pollsters that are out there where this lead, simply put, is not matching what you might expect if you were expecting a Democratic wave."

The redistricting wars did not help Democrats at all. Republicans are locked in structural advantages through the redistricting process, which means a five-point national lead may not translate into actually flipping the House.

"Democrats need between a three and four point advantage in the national vote," he said. "You average those polls together. It's right on the border. It is no guarantee. It is far from a guarantee at this point if you believe these pollsters."

That is not exactly the kind of language that inspires confidence in a Democrat war room. And then there are the prediction markets. The Kalshi prediction market gives Democrats a 78% chance of winning the House. That sounds strong, but it also means Republicans have a better-than-one-in-five shot at holding on. In the Senate, the GOP still holds the edge.

"Democrats probably take back the House, but it's far from a guarantee," Enten said. "We are not going to get caught, like in past years. We ignore those polls that had those warning signs."

The Dems midterm warning sign is pretty clear:

There are high quality polls (Ipsos, MU Law, & NBC), which show Dems shy of their generic ballot benchmark in past wave years.

Their Dems avg. lead is just 3 pts... & Dems need a 3-4 pt win to take the House given redistricting. pic.twitter.com/qPy5CsxFZS
— (((Harry Enten))) (@ForecasterEnten) June 15, 2026

Political analysts burned themselves in past cycles by dismissing data that did not fit the expected narrative. The warning signs were there, and they got ignored. Enten is clearly trying not to repeat that mistake, and the data he is looking at right now says the same thing it has been saying for months: this is not shaping up to be the blowout Democrats want... or need.

Tyler Durden Thu, 06/18/2026 - 16:40

LA City Council Advances Measure To Allow Non-Citizens To Vote In Local Elections

Tyler Durden — Thu, 18 Jun 2026 20:20:00 +0000

LA City Council Advances Measure To Allow Non-Citizens To Vote In Local Elections

Authored by Bryan Hyde via American Greatness,

The Los Angeles City Council voted 10-5 to advance a controversial proposal that would allow noncitizens to vote in local elections, including mayoral, city council and school board races.

The New York Post reports that the proposal is part of a sweeping charter reform package headed for the November ballot.

🚨 LA City Council Advances Proposal on Noncitizen Voting for November Ballot

Los Angeles City Council has moved forward on a measure from Councilmember Hugo Soto-Martínez (AI video) that would allow the city to consider noncitizen voting in certain local elections — including… pic.twitter.com/SS7ho6Jskn
— Paul A. Szypula 🇺🇸 (@Bubblebathgirl) June 18, 2026

The proposal to allow noncitizens to vote was proposed by Councilman Hugo Soto-Martínez who argues that noncitizens who live, work, pay taxes and raise families in Los Angeles should have a voice in local affairs.

Soto-Martinez said:

“I believe it’s a simple principle that should guide us: If you live in the city, contribute to the city, raise your family in the city, and are impacted by the decisions made in the city, you deserve to have a voice in the city.”

“It just does not make sense to me that someone who moves to Los Angeles for a temporary job has more of a voice than a parent who has been here for decades raising their children through public schools,” Soto-Martinez added.

Opponents warn that the proposal is moving forward before city leaders know whether it can actually be implemented.

Councilwoman Monica Rodriguez raised questions as to how Los Angeles could create a noncitizen voting program when the city’s elections are administered by Los Angeles County.

Rodriguez warned that city leaders may be making promises they cannot keep, saying, “I have apprehension of making false promises that give the suggestion that we’re able to advance something without even further vetting the ability to implement this. I don’t want to pretend that people are going to take away from this that this is going to be available to them, and it’s not, because it’s not been baked out.”

The noncitizen voting measure was part of a package of proposed city charter changes that will be placed before voters on the November 3rd ballot, including a measure that would allow the council to set policy at Los Angeles Police Department.

The City Attorney will now draft language for the proposed ballot measures, which must then be approved by the City Council before going before voters.

Tyler Durden Thu, 06/18/2026 - 16:20