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Sector Watch: The Energy Security Pivot Accelerates

Sector Watch: The Energy Security Pivot Accelerates

Authored by Boredom Baron via Substack,

Four sectors demand specific attention this week, and the supply chain dynamics within each are more nuanced than the headlines suggest.

Logistics and Transportation face existential cost pressure, but the picture is bifurcating exactly as I suggested it would. The Denmark story, with the government begging citizens to “please, please, please” avoid driving, tells you how directly the energy shock is hitting consumer behavior and by extension transportation demand. European road freight is already under structural pressure: contract freight rates climbed 2.6 points quarter-over-quarter in Q4 2025 as major shippers locked in rates ahead of anticipated capacity tightening. The spread between contract and spot rates is a real-time barometer of corporate panic: when shippers are willing to pay a heavy premium for guaranteed truck availability over volatile spot pricing, it suggests boardrooms expect logistics disruptions to persist. Add the Hormuz closure on top of a pre-existing 444,000 driver shortage across Europe, and the pressure on transport-dependent small-caps is severe. But the restructuring of global trade routes around the Hormuz blockade is also creating winners. European logistics hubs positioned as alternative gateways for Asian goods, particularly those with rail connections to Central Asian corridors, could see structural increases in volume. The Global Baku Forum this week highlighted the “Middle Corridor” linking Asia and Europe through the Caucasus as a strategic transport opportunity that is gaining momentum.

Defense and Dual-Use Infrastructure continues to be the most structurally advantaged sector in our universe. European governments are demonstrating a strict, legislatively mandated preference for domestic procurement to guarantee sovereignty and the security of supply, which means the multi-decade rearmament cycle (anchored by Germany’s €500 billion infrastructure plan and the Readiness 2030 initiative) flows disproportionately to European small and mid-cap precision component manufacturers, not just the headline-grabbing prime contractors. Modern defense platforms require vast networks of deeply specialized suppliers producing complex avionics, precision optical sensors, hardened materials, and secure communications equipment. The qualification processes in aerospace (3-7 years to certify a component, then specified for the aircraft’s 30+ year lifecycle with recurring maintenance revenue) create the most durable competitive moats in European small-cap investing. Companies strategically positioned at the intersection of civilian infrastructure and defense mobility are essentially insulated from standard cyclical downturns by the non-discretionary nature of sovereign budgets.

Warehouse Automation and Industrial Robotics is the sector that directly benefits from the nearshoring paradox I described in Contrarian #4. Every factory relocated from Asia to Central Europe needs automated systems to offset higher labor costs. The European warehouse automation market is projected to compound at double-digit rates through 2034, driven by labor shortages and vacancy rates exceeding 12% in European logistics, which sent robot installations up 28% in Central and Eastern Europe. The ecosystem extends beyond traditional robotic arms to encompass Autonomous Mobile Robots (AMRs), high-resolution LiDAR sensors, force-torque sensors, and AI-driven Warehouse Management Systems. Companies like Kardex Holding, Interroll Holding, and AutoStore aren’t selling into a cyclical demand pulse. They’re selling shovels during a structural gold rush, as European supply chain leaders confirm that cost reduction has definitively superseded innovation as the paramount objective for technology integration. Approximately 25% of EU firms have now invested in proprietary digital tracking systems to fortify supply chain visibility, and that percentage will only grow as Hormuz-related disruptions persist.

Energy Infrastructure and Alternatives are seeing renewed interest. Europe switched on its first microgrid-connected data center this week in Ireland, a niche story that nonetheless signals the direction of travel. Every week that Hormuz remains closed strengthens the investment case for distributed energy generation, waste-to-energy operations, and grid infrastructure companies. SoftBank’s $33 billion US power plant deal shows that institutional capital is making enormous bets on energy security. But there’s a contrarian wrinkle here too: the green transition requires exponential increases in critical raw materials, most notably rare earth elements, lithium, and cobalt, whose extraction and processing are dominated by China. The EU’s Critical Raw Materials Act aims to boost domestic recycling and extraction, but actual operational progress is dangerously slow relative to the pace of mandated decarbonization. Companies accelerating the energy transition could find themselves swapping a dependency on Middle Eastern hydrocarbons for a dependency on Chinese processed metals. That’s not energy security. That’s energy dependency with different geography.

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Tyler Durden
Mon, 03/16/2026 – 07:20

Supply Chain Layoffs Spread Across Warehouses, Factories And Rail Terminals

Supply Chain Layoffs Spread Across Warehouses, Factories And Rail Terminals

By Noi Mahoney of FreightWaves

A wave of layoffs across U.S. supply chains — from EV battery plants and auto parts factories to warehouses and rail terminals — has affected nearly 4,000 workers in recent weeks, according to company announcements and WARN filings across multiple states.

Recent WARN filings and company announcements show job cuts across at least a dozen companies in states including California, Georgia, Tennessee, Texas, Ohio, South Carolina, Pennsylvania and Alabama.

The largest layoffs in the recent wave are coming from the automotive and industrial supply chain. SK Battery America said it laid off 958 workers — about 37% of its workforce — at its electric vehicle battery plant in Commerce, Georgia, citing shifting EV demand as automakers reassess production plans.

Meanwhile, bankrupt auto parts manufacturer First Brands Group announced major workforce reductions, including 572 layoffs across three facilities in Brownsville, Texas, and 333 jobs cut at a plant in Fayetteville, Tennessee, as part of its Chapter 11 restructuring.

In food manufacturing, Campbell’s said it will cut 205 jobs at its Paris, Texas plant as it repurposes the facility to focus on sauce production. Technology services firm Bluum USA also filed notice it will close its Irving, Texas distribution facility, eliminating 60 jobs as part of a restructuring.

Distribution centers and warehouses reduce staff

Several logistics and distribution operators have announced layoffs tied to restructuring, contract losses or network consolidation.

Third-party logistics provider Saddle Creek Logistics Services plans to lay off 151 workers at a warehouse facility in Bessemer, Alabama.

GEODIS Logistics will eliminate 105 jobs at a facility in Ashville, Ohio, after a client ceased operations at the site.

GXO Logistics also filed notice that it will shut down operations for a client at its West Jefferson, Ohio, warehouse, affecting 102 workers.

In California, CJ Logistics America announced 71 layoffs at a warehouse facility in Fontana scheduled for April 30.

Rail and intermodal logistics hit by contract losses

Intermodal logistics operator Parsec LLC is closing multiple rail cargo handling facilities after losing key customer contracts.

The company will shut down a Columbus, Ohio, intermodal terminal, eliminating 115 jobs by May 1.

A WARN filing with Ohio regulators shows the layoffs will affect loader operators, mechanics, warehouse staff and management roles.

Parsec is also closing a Jacksonville, Florida facility after losing a major customer contract.

In North Charleston, South Carolina, Parsec is shutting down an intermodal logistics operation at the Norfolk Southern terminal, eliminating 39 jobs.

Parcel network restructuring leads to FedEx closure

Package delivery giant FedEx is closing a facility in Pittston, Pennsylvania, affecting 63 employees as part of its “Network 2.0” initiative aimed at consolidating package pickup, transportation and delivery operations.

The company said the effort is designed to simplify its network through a “one van, one neighborhood” delivery model intended to improve efficiency.

Manufacturing and trucking supply chain layoffs

Manufacturing operations tied to heavy-duty trucking and industrial supply chains are also reducing staff.

Furniture manufacturer Ashley Furniture Industries is laying off 266 workers at a manufacturing center in Mesquite, Texas, according to a WARN notice filed with the state on Wednesday.

Commercial Vehicle Group, which produces seating systems used by truck manufacturers such as Freightliner and Mack, will lay off 76 workers at its Bostrom Seating plant in Piedmont, Alabama, amid softer demand in truck and construction markets.

In Ohio, Boelter Companies is closing its Custom Deco manufacturing facility in Toledo, affecting 63 workers.

Grocery and produce closures add more layoffs

Retail grocery and food distribution operations are also contributing to the job losses.

Several California grocery locations are shutting down:

  • Food 4 Less #364, Inglewood — 64 employees affected.
  • Foods Co. #371, Sacramento — 58 employees affected.

Produce distributor FreshKO Produce Services will close a facility in Fresno, eliminating 58 jobs.

Meanwhile, a Walgreens distribution center in Houston is slated to close, affecting 159 workers, as the retailer consolidates its distribution network.

Recent layoffs and closures across supply chain companies

Tyler Durden
Mon, 03/16/2026 – 06:30

Sleepless In Sweden

Sleepless In Sweden

Recent data from a Statista Consumer Insights survey casts light on the prevalence of sleeping problems in different countries, affecting more than a third of respondents in 25 out of the 32 populations surveyed.

Infographic: Sleepless in Sweden | Statista

You will find more infographics at Statista

Respondents were asked if they had experienced a sleep disorder in the 12 months prior to the survey.

Additionally, Statista’s Felix Richter notes that in all of the countries included on the chart, women were more likely to have experienced a sleep disorder than men.

In Sweden, the country where trouble sleeping was most prevalent, 56 percent of women had experienced symptoms of sleep disorder in the past year versus 45 percent of men.

In the U.S., there was a 4 percentage-point difference (39 percent women to 35 percent men).

According to the Sleep Foundation, women and people assigned female at birth are more likely to experience insomnia.

Researchers say this is the result of a combination of sex-based factors such as hormone production as well as gender-based differences, which “may be driven by social and cultural disparities”.

Predispositions to certain physical or mental health issues are also cited as possible factors believed to lead to higher rates of sleeplessness in women.

Tyler Durden
Mon, 03/16/2026 – 05:45

“Entirely Demonic”: Catherine Austin Fitts Warns Financial Tsunami Coming Because Of Programmable Money

“Entirely Demonic”: Catherine Austin Fitts Warns Financial Tsunami Coming Because Of Programmable Money

Via Greg Hunter’s USAWatchdog.com,

Catherine Austin Fitts (CAF), publisher of “The Solari Report,” has been pushing gold (and silver) as an investment for the past few years.  

The record high price, even though both have come down in price a bit, has proven her right–again.  Now, there is an overpowering change getting ready to hit the world.  CAF says:

“What I call the Rothschild syndicate wants programmable money, and they don’t want anybody stopping it

That’s number one. 

The second thing is most people do not understand what is coming in terms of what the distributive ledger technology is going to do, what it is going to do to the currency markets, to the stock and bond markets.  It is bubble economics and also control.

We are talking about something that is entirely demonic.

  Let me give you a few examples:  Mr. Smith, this is the government calling, and we know you have three children.  We want one of them transgendered.  You can choose which one, but if you don’t transgender one of them, we will turn off your money, and you won’t be able to feed your other children.”

CAF goes on, “You take the Covid shot or we turn your money off…”

Programmable money is spatial control as well. 

If we went to a 15-minute city, your programmable money would not work outside the 15-minute city.  It’s not just programmable money. 

If you have an electric car and you try to leave the 15-minute city, your car will not work.

This is why CAF is working tirelessly with multiple state legislatures to put the brakes on programmable money before it’s too late. 

CAF says, “We say get the guardrails up now, and don’t wait for the last mile of the highway…”

“Look at how the market is exploding.  If you wait, it could be too late. 

The horse has left the barn without the bridal and without the saddle...

Anybody in state government who is working to protect freedom, we want to do everything we can to help you do that. 

You can do that by protecting cash or by putting up the guardrails now so a distributive ledger cannot be used to destroy human and Constitutional rights.  That’s what our focus is now.”

CAF talks about the how energy prices are the number one cost to produce just about anything. 

CAF is concerned that the Iran war could impede fertilizer production.  CAF says:

“We could see enormous dislocations in the food market with supply chains and prices going up. . ..  If this continues, we could be talking, especially in lower income countries, of real famine on a mass scale.

In closing, CAF says, “Gold is very attractive now as an investment position…”

“…Everybody should have a core position. . .. For general trend and direction, I don’t know of a better trend and direction than gold and silver right now.”

There is much more in the 52-minute interview.

Join Greg Hunter of USAWatchdog as he goes One-on-One with the Publisher of The Solari Report, Catherine Austin Fitts, as she takes us to school on the tsunami of change hitting us all in in the face for 3.14.26.

Tyler Durden
Mon, 03/16/2026 – 05:00

Where The Super Rich Reside

Where The Super Rich Reside

According to the Forbes World’s Billionaires List of 2026, many of the world’s richest people are citizens of the United States.

As Statista’s Katharina Buchholz shows in the following chart, the country counted 989 billionaires per the list’s last release Tuesday.

This is far ahead of the second-ranked country, China (with 610) and third-placed India with 229.

Infographic: Where the Super Rich Reside | Statista

You will find more infographics at Statista

According to Forbes, 390 new billionaire were minted in the last year, translating into more than one a day and pushing up the number of billionaires worldwide to more than 3,400.

This included the first billionaires from Afghanistan and Pakistan. Despite coming from neighboring countries, the two men’s success stories are different. While Afghan national Mirwais Azizi is a 63-year-old real estate developer based in Dubai, Pakistan’s Sualeh Asif is only 26 and co-founded AI coding tool Cursor in the U.S. with three friends from MIT.

After the U.S., China and India, Germany has the biggest number of billionaires at 212, followed by Russia at 147.

Also new on the list in 2026 are well-known celebrities like singer Beyonce Knowles-Carter, tennis player Roger Federer, rapper Dr. Dre and movie director James Cameron.

Other notable female newcomers include China’s Zhou Xiaoping, who is the cofounder of Changzhou Xingyu Automotive Lighting Systems and entered the list with the highest female self-made fortune of 2026 ($3.8 billion), as well as Amelie Voigt Trejes, the world’s youngest billionaire ever at 20 after inheriting part of a family fortune from her grandfather, the cofounder of Brazilian electrical equipment company WEG.

2026 also saw a new all-time youngest self-made billionaire in Surya Midha. The 22-year old American with Indian roots cofounded AI recruiting tool Mercor with two university friends just slightly older. Another Brazilian, Luana Lopes Lara, is now the youngest ever self-made female billionaire at 29 after cofounding prediction market firm Kalshi.

Tyler Durden
Mon, 03/16/2026 – 04:15

Nordic Nations Rank Among Happiest & Wealthiest In The World

Nordic Nations Rank Among Happiest & Wealthiest In The World

Does money buy happiness?

The world’s richest countries generate staggering income per person. But when it comes to life satisfaction, some of the wealthiest nations fall surprisingly short.

This graphic, via Visual Capitalist’s Bruno Venditti, compares GDP per capita (PPP), based on IMF data, with happiness scores from the World Happiness Report, which asks people to rate their lives on a scale from 0 to 10.

The 20 Richest Countries by GDP Per Capita

Liechtenstein tops the GDP (PPP) per capita ranking at over $206,000 per person, followed by Singapore and Luxembourg. Several small, globally connected economies dominate the top 10, including Ireland and Macao SAR.

Energy-rich nations like Qatar and Brunei also appear near the top. The United States ranks 11th at roughly $93,000 per person, while European countries account for a majority of the top 20.

However, being among the wealthiest does not necessarily mean being the happiest.

The Happiest Countries in the World

Finland leads the happiness rankings with a score of 7.74, followed closely by Denmark and Iceland. Nordic countries consistently perform well, reflecting strong social safety nets, high trust in institutions, and broad access to public services.

Notably, Costa Rica and Mexico make the top 10 despite much lower GDP per capita levels than many European peers.

Meanwhile, some of the world’s richest economies, such as Singapore and Qatar, do not appear among the top 20 happiest countries.

Where Wealth and Happiness Overlap

Only a handful of countries rank near the top on both wealth and happiness—making them rare global outliers. Denmark, Iceland, Norway, Luxembourg, Switzerland, Ireland, and the Netherlands stand out as rare examples where high incomes coincide with high life satisfaction.

This overlap is particularly strong in Northern Europe. These countries tend to pair high productivity with robust welfare systems, universal healthcare, and relatively low income inequality.

The data shows that while wealth matters, it isn’t the whole story. Trust, social support, and access to public services appear to play a major role in how satisfied people feel with their lives.

If you enjoyed today’s post, check out The Global Cost of Living Index 2026 on Voronoi, the new app from Visual Capitalist.

Tyler Durden
Mon, 03/16/2026 – 02:45

Berlin Youth Center Hid Girl’s Gang-Rape By The Usual Suspects To Avoid ‘Typical Muslim’ Label

Berlin Youth Center Hid Girl’s Gang-Rape By The Usual Suspects To Avoid ‘Typical Muslim’ Label

Via Remix News,

A Turkish-Kurdish schoolgirl is said to have been groped by nine boys of Arab descent in the back room of a Berlin youth center in Gropiusstadt, Neukölln. It then came out that she was raped in November, in the youth center garden. A scandal has erupted after it was reported that the youth center staff did not file a police report, reportedly out of fear that the suspects would be labeled as the “typical Muslims.”

For months, there were already troubling reports from Berlin youth center in the multicultural neighborhood of Neukölln: involving unwanted embraces, girls having their breasts and buttocks touched without consent, and being pulled onto boys’ laps.

All of these incidents were allegedly happening in plain sight of staff.

Then, in January, the incident involving the mass groping of the Turkish-Kurdish victim occured by the nine boys, with each one taking turns molesting her while one boy stood guard in the doorway. They only stopped when a staff member walked in.

Three days later, the girl admitted to staff something worse had happened to her. She had already been raped in November — in the youth center’s garden, in the evening. Afterwards, she crouched in a corner for hours. When she finally tried to leave the area, the entire area was locked. She had to climb over the fence to get out, breaking her ankle in the process.

The assault had also been filmed. The boy, known by the nickname Medi, 17, allegedly used the footage as a weapon.

“I want to see you here every Monday, or I’ll send this to your parents.” Once word of the video spread, other boys in the group began taunting her: “You’re letting yourself be screwed.” They also wanted the girl to introduce them to her 14-year-old sister.

A cover-up because the suspects were Muslim?

Now, the youth center is in the crosshairs for its unbelievable response.

Reportedly, instead of going to the authorities, female visitors were given a “safeword” to use whenever they felt threatened. In addition, the door in the back room was removed from its hinges. The employees refused to go to the police even as colleagues from other facilities applied pressure to do so. The internal justification, according to sources who spoke with Bild newspaper, was a desire to keep things quiet so the young people would not be immediately labeled: “typical Muslims.”

Youth State Secretary Falko Liecke, 53, of the Christian Democrats (CDU), was blunt in his response when approached by Bild.

“It’s outrageous that the Muslim perpetrators are apparently being protected here to avoid stigmatizing them, while the victim is being abandoned. This attitude is completely unacceptable.” He announced he was examining whether child protection laws had been violated.

Parents had to go to the police after authorities failed to act

The girl eventually sought help outside the facility due to their refusal to go to the police.

A supporter of the girl spoke with her parents, who took the news of what happened to their daughter extremely hard. Together with a police prevention officer, they went to the State Criminal Police Office, where the girl gave a video statement so she would not have to recount the events repeatedly.

Officers moved quickly to seize the suspect’s mobile phone. Her father filed a formal complaint against the alleged rapist and also submitted online complaints against those responsible at the facility and the officials who failed to act.

The head of the youth welfare office had been informed as early as Jan. 29. The Neukölln administration’s explanation to Bild as to why no report was filed was that “the youth welfare office did not file a report because they do not know the names of either the victim or the perpetrator.”

Liecke responded to their excuse, saying: “This case was clearly intended to be swept under the rug for political reasons. It wasn’t even put on the agenda at the district office, even though it should have been. Neither the youth welfare office nor the responsible city councilor filed any reports with the police. This is a scandal and must have consequences.”

Neukölln Mayor Martin Hikel, of the far-left Social Democrats (SPD), said he saw no grounds for disciplinary action against the Left Party youth councilor with political responsibility for the case, on the basis that she was only informed by her own welfare office on March 2.

He nonetheless acknowledged the gravity of the situation:

“This shocking case shows that the structures and processes within the youth welfare office require a self-critical internal review. In this context, a survey on the topic of sexual assaults in youth recreation facilities would be advisable in order to develop systematic improvements. The district office will discuss this.”

According to crime data, nearly half of all gang rapes in Berlin are committed by foreigners. However, the other half is also thought to have a high number of German citizens with a migration background, although official figures have not been released.

Read more here…

Tyler Durden
Mon, 03/16/2026 – 02:00

Echoes Of Iraq: Mainstream Media ‘Deja Vu’ Over Framing Of The War On Iran

Echoes Of Iraq: Mainstream Media ‘Deja Vu’ Over Framing Of The War On Iran

Via Middle East Eye

“Why we should go to war” ran the headline of a Guardian article in February 2003 by the commentator Julie Burchill. In it, she explained to the Guardian’s liberal readers why a pro-war attitude in the run-up to former British Prime Minister Tony Blair’s invasion of Iraq should be welcomed. 

“If you really think it’s better for more people to die over decades under a tyrannical regime than for fewer people to die during a brief attack by an outside power, you’re really weird and nationalistic and not any sort of socialist that I recognise,” wrote Burchill.

Another article published in April 2003, after the invasion started, criticised anti-war “doomsters”, claiming “the people of Iraq have been unchained from appalling torture and tyranny” as a result of US-UK action.

Despite claims of the BBC’s anti-war bias from Downing Street, academic analysis proved that it was in fact more reliant on government and military sources than other sources.

It was also the least likely to quote sources of Iraqi or independent origin, such as the Red Cross, which might contradict official narratives that underplayed Iraqi casualties. Two decades after Iraq, how much has changed?

Many media outlets have issued mea culpas for their parroting of US and British propaganda lines in the run-up to the invasion of Iraq but when it comes to the latest conflict in Iran, it seems clear that that introspection did not lead to lasting change.

Media analysts Middle East Eye spoke to say that once again the media is failing in its coverage of the current US-Israeli attacks on Iran. Coverage by news outlets is perhaps more tentative in its support for war given the lessons editors have learnt after Iraq, but many of the same issues keep turning up.

Leaving out unflattering details

The bombardment of Iran by Israel and Washington has already led to more than 1200 deaths, including 165 people, almost all schoolchildren aged between seven and 12, killed by US “double-tap” strikes on a school.

Such strikes are designed to take out medics and civilians arriving at the scene to help victims in a delayed double explosion.  Declassified UK reported a Scottish weapons factory helped to make missiles allegedly used in the attack, which the UN education agency, Unesco, described as a “grave violation of international law”. 

So far, no mainstream media have reported on this UK link to the attack. Instead media outlets have repeatedly raised doubts about who was behind the attack.

One BBC headline from 28 February read “At least 153 dead after reported strike on school, Iran says”. Analysts have pointed out the use of the passive voice, lack of a named aggressor, and implication of doubt regarding the reliability of the source.

It was a New York Times report that first revealed the US as the likely culprits behind the attack – a conclusion that has since become firmer as evidence comes out, despite Washington’s reluctance to accept responsibility.

Elsewhere, Sky News called Iran’s bombing of Israel a “horror story”, but has avoided the use of similar language to describe the plight of Iranians living under US bombardment.

An article in The Telegraph justified US-Israeli attacks by accusing critics of “erasing the history of the regime’s terror”. Nonetheless, this time round the lack of a persuasive reason for the war from the Trump administration has meant a break from the cohesive media narrative that accompanied the Iraq war.

According to Ali Alavi, lecturer in Middle Eastern and Iranian Studies at SOAS, while the 2003 invasion of Iraq followed the “shock of 9/11, when much of the western political class and media converged around a single security narrative about Saddam Hussein”, the response to the war on Iran “appears much more fragmented”.

He said that the coverage is “less uniformly aligned with political messaging” with a “lack of consensus” around the framing and justification for the war.

Part of this stems from the fact that the Trump administration has been characteristically chaotic in establishing the aims of the war: with conflicting narratives around “regime change”, preventing nuclear capabilities and taking out an immediate threat.

WMDs and other lies

During the lead-up to the Iraq War, press reporting repeated the so-called “45-minute claim” on how long it would take Saddam Hussein’s non-existent weapons of mass destruction (WMDs) to reach the UK. 

Most notably, the Sun ran a sensationalist headline “Brits 45 mins from doom” following the publication of the September 2002 dossier which served as justification for Prime Minister Tony Blair’s invasion of Iraq the following year. 

Similarly, The Sunday Telegraph pumped out headlines like “UN inspectors uncover proof of Saddam’s nuclear bomb plans” and “UN gives Iraq last chance to disarm” to pave the way for the illegal invasion.

The BBC was attacked by Blair’s government for raising concerns that the intelligence dossier about Iraq’s WMDs had been “sexed up” by the prime minister’s office. The subsequent fallout led to resignations from the BBC’s chairman and director general.

However, the publication of the Chilcot report in 2016 later vindicated their claims that Blair and his director of communications, Alastair Campbell, had exaggerated the threat posed by Saddam Hussein. 

The inquiry found Iraq posed “no imminent threat” and British intelligence agencies had produced “flawed information” about the alleged WMDs.

Fast forward to 2026 and Israeli officials are claiming they launched a “pre-emptive attack against Iran” while Trump cited an “imminent threat” to the US, despite Pentagon briefings directly contradicting the narrative that Iran would strike unprovoked.

The claims that Iran poses an existential threat have been repeated in British mainstream media and Iran’s supposed nuclear weapons ambitions are spoken of as a matter of fact. For example, The Times ran a story on Thursday with the headline “How close is Iran to building a nuclear weapon?” 

“US-Israeli attacks are targeting Tehran’s atomic program once more, suggesting Trump’s bunker-busting bombs last year did not entirely obliterate the threat,” the article continues. What the article fails to mention is that Iran had just made major concessions in settlements regarding its nuclear program. 

Omani Foreign Minister Badr al-Busaidi, who has been mediating the process, told CBS News that negotiators from the US and Iran had made “substantial progress” and that a nuclear “deal is within our reach”, just one day before the US and Israel attacked the region.

Iran agreed to blend existing stockpiles of enriched uranium to their “lowest level possible” and grant inspectors from the International Atomic Energy Agency (IAEA) “full access” to its nuclear sites.

Meanwhile, Israel refuses to acknowledge its own nuclear programme, has rejected IAEA inspections, and, unlike Iran, is not part of the Nuclear Non-Proliferation Treaty.

Rarely mentioned is the fact that western states have been intervening in the region, including militarily, before weapons of mass destruction were ever an issue.

In 1953, US and British intelligence operatives organised a coup against Iran’s democratically elected leader, Mohammad Mosaddegh after he nationalised Iran’s oil. The Shah’s rule was strengthened and the Anglo-Iranian Oil Company (now known as BP) resumed its control of Iranian oil.

The CIA also helped overthrow Iraq’s president, Abdul-Karim Qasim, the general who deposed the western-allied Iraqi monarchy, in a 1963 coup.

When the Shah was overthrown during the 1979 Iranian revolution, the US backed Iraq’s Saddam Hussein, providing arms and intelligence to fight the newly anti-western Iran. Britain and Germany supplied Saddam with equipment and materials for the manufacture of chemical weapons during the war.

When Saddam Hussein no longer supported western interests and became the new bete noire by invading Kuwait in 1990, the US led a war against Iraq.

Embedded journalists

Catriona Pennell, professor of Modern History and Memory Studies at Exeter, told MEE that, in 2003, during “a perceived moment of crisis, the press tended to support the national cause… transmitting information on behalf of governments, rather than acting as a critical filter.”

Media analysts found that less than 10 percent of news stories covering the Iraq war featured controversial issues such as “civilian casualties and antiwar protest”. Under six percent focused on “the rationale for war”, with the vast majority of reporting being “event-driven” by “embedded journalists” accompanying military personnel on the ground. 

For academic Gholam Khiabany, who teaches at Goldsmiths, University of London, the fact that the media are reporting on Iran largely from inside Tel Aviv is telling.

“The camera-angle is from Israel and from Washington rather than Iran,” he explained, likening it to the media’s coverage of Israel’s genocide in Gaza, which emphasised death toll figures came from the “Hamas-run health ministry” to imply they were unreliable.

According to Philip Seib, professor of Journalism and Public Diplomacy at the University of Southern California, while “cinematic but simplistic news coverage bolstered the early support for the invasion” in Iraq, the argument of “Iran as an existential threat to the United States exists only in the troubled brain of Donald Trump”.

Opposition to the Iraq war grew steadily, culminating in the two-million-person march in February 2003 organised by Stop the War.

Public Skepticism

Lindsey German, co-founder of Stop the War, which recently organised the 50,000-strong London demonstration against attacks on Iran on Saturday, said that the Independent and the Daily Mirror were the only major British outlets to highlight widespread opposition to the Iraq war. 

The aftermath of Iraq – British military losses, vast Iraqi civilian casualties, the absence of WMDs – has contributed to a more cautious response from Keir Starmer, whose popularity is lower than even Blair’s worst moments. 

“The legacy of Iraq weighs very heavily on the Labour government,” German told MEE, noting Starmer frames support for US and Israeli attacks as being for “defensive purposes”, despite criticism from both Blair and Trump.

Trump is also a much less credible source when it comes to justifying bombing civilians in the name of Iranian women’s freedom, given his extensive ties to the late pedophile Jeffrey Epstein, track record of misogynistic comments, and allegations of sexual assault involving underage girls. 

While the media might maintain a lot of the narrative cohesion that accompanied the Iraq War, the same cannot be said about the general public in both the US and UK.

Recent YouGov polling indicates that a majority (59 percent) of the British public oppose US military action against Iran and only eight percent want the UK “actively joining” attacks. More than half of Americans also oppose the war on Iran, with opposition to the use of ground troops rising to 74 percent, according to the pollster Quinnipiac.

Des Freedman, professor of media and communications at Goldsmiths University, told MEE “the clear fact is that the media do not represent these views and cater overwhelmingly to the most hawkish voices in government”.

These voices he said issue “a cacophony of noise that we have to move to a war footing and increase the defense budget, even if that means shredding public services”. 

The chaos surrounding Trump has “allowed sections of the media to report more critically and to focus on the lack of military planning on the part of the US, justifying the UK not playing a more defensive role”.

Nevertheless, Freedman noted, as with Iraq, “very few journalists ask the key questions about how any of this can be justified in international law.”

Tyler Durden
Sun, 03/15/2026 – 23:45

Alaskans Carry The Most Lifetime Credit-Card Debt Of All Americans, Iowans The Least

Alaskans Carry The Most Lifetime Credit-Card Debt Of All Americans, Iowans The Least

The average American accumulates nearly $400,000 in credit card debt over their lifetime.

But the total varies significantly depending on where people live. In some states, the typical lifetime total exceeds $450,000, while in others it sits closer to $320,000.

This map, via Visual Capitalist’s Tasmin Lockwood, based on data from JG Wentworth, shows which states accumulate the most and least credit card debt over a lifetime.

Which States Accumulate the Most Credit Card Debt?

Check out the data, which excludes any interest charges, below:

Rank State Average Lifetime Credit Card Debt
1 Alaska $484,620
2 New Jersey $456,300
3 Connecticut $454,080
4 Hawaii $453,600
5 Maryland $449,520
6 Texas $448,020
7 Florida $443,520
8 Nevada $438,480
9 Colorado $436,020
10 Georgia $434,280
11 Virginia $432,000
12 California $424,800
13 New York $420,600
14 Washington $418,500
15 Massachusetts $411,180
16 Delaware $410,460
17 Arizona $408,000
18 Illinois $403,560
19 New Hampshire $401,520
20 Rhode Island $401,160
21 Utah $391,920
22 South Carolina $389,880
23 North Carolina $386,040
24 Wyoming $384,360
25 Louisiana $381,540
26 Oklahoma $377,460
27 Pennsylvania $374,700
28 Tennessee $374,580
29 Oregon $371,940
30 Idaho $367,860
31 Montana $367,320
32 Kansas $364,920
33 Alabama $364,440
34 Minnesota $364,080
35 Missouri $362,520
36 New Mexico $361,380
37 North Dakota $359,460
38 Nebraska $356,700
39 Michigan $355,920
40 Vermont $355,680
41 Ohio $352,260
42 Arkansas $349,560
43 Maine $349,560
44 South Dakota $343,020
45 Indiana $337,260
46 Mississippi $333,180
47 West Virginia $325,620
48 Kentucky $323,940
49 Wisconsin $322,200
50 Iowa $319,740

Alaska has the highest lifetime credit card debt at $484,620, 21.8% above the national average. The Arctic state typically ranks high in cost of living; its remoteness adds complexity to shipping in food and fuel, which elevates prices.

New Jerseyans and Connecticuters rack up $456,300 and $454,080 of credit card debt in their lifetimes, respectively, reflecting higher costs for rent, food, and utilities. Interestingly, New Jersey and Connecticut have good salaries compared with other states, suggesting higher income enables greater access to credit.

Average lifetime credit card debt exceeds $400,000 in 20 states.

Midwestern states Iowa and Wisconsin have the lowest levels of average credit card debt at $319,740 and $322,200, respectively.

Kentucky, where public school students must complete a financial literacy course before graduating, trails closely at $323,940.

Consumer Debt Has Risen in Recent Years

Consumer spending plays a crucial role in the U.S. economy; it accounted for nearly 70% of GDP in the third quarter of 2025. Meanwhile, over half (56%) of all credit card users have some kind of revolving credit card debt, which is where payments are deferred for periodic instalments, highlighting debt’s parallel role.

While consumer debt has risen alongside inflation, mortgages, vehicles, and student loans, household debt in the U.S. is much lower than in countries such as Switzerland, Australia, and its neighbor Canada.

To learn more about global debt, check out this graphic which breaks down countries with the highest household debt.

Tyler Durden
Sun, 03/15/2026 – 23:15

White House Denies Tucker Carlson CIA Spy-Op

White House Denies Tucker Carlson CIA Spy-Op

Update (2250ET): ‘Top admin officials’ tell Axios‘ Marc Caputo that this is fake news; 

Meanwhile, Carlson sat down with Glenn Greenwald Friday morning, and said that several high-placed sources told him that the CIA was preparing a criminal referral about him to the DOJ. 

Tucker said he had learned from several high-placed sources — and he obviously has many within the Trump administration — that the CIA was preparing a criminal referral about him to the DOJ. The subject of the agency’s report of suspected crimes: conversations he allegedly had with Iranian officials and others living in Iran prior to the start of the Trump-Netanyahu war. The clear implication was that Tucker had committed acts of subversion, or even treason, by speaking to Iranians in advance of the war that was about to be launched on their country.

Despite how innately shocking this claim is, I had and still have zero doubt that Tucker was telling the truth about what he heard. I have known him for many years, spent much time talking to him both in front of a camera and away from one, and never once has he lied to me or misled me. Tucker has been in public life as a journalist and media figure since his 20s. There have been many harsh criticisms launched against him during those decades, many of which — as he will be the first to tell you — were ones that were quite valid. –GlennGreenwald

So now they’re going to suggest Tucker made it all up. 

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In a bombshell Saturday monologue, conservative commentator Tucker Carlson alleged that the CIA has been monitoring his private text messages as part of an effort to frame him for a crime and trigger a criminal referral to the Department of Justice (DOJ). 

The other day I found out that the CIA is preparing some kind of criminal referral against me, a crime report to the Department of Justice on the basis of a supposed crime I committed. What’s that crime? Well, talking to people in Iran before the war. They read my texts,” Carlson said, adding that the alleged violation under consideration involves the Foreign Agents Registration Act (FARA), the 1938 law requiring individuals acting on behalf of foreign governments or entities to register with the DOJ and disclose their activities. Carlson emphatically denied any wrongdoing, insisting he is not a foreign agent and remains loyal to the United States.

Carlson emphatically denied any wrongdoing, insisting he is not a foreign agent, has never taken money or direction from any foreign power, and remains fully loyal to the United States. He described the surveillance as politically motivated retaliation against critics of official foreign-policy narratives.

He also said this is not the first time U.S. intelligence has targeted his private communications – recalling well-known 2021 incident from his Fox News days, when he says the NSA intercepted and leaked his text messages while he was attempting to land an interview with Vladimir Putin. Those messages made their way from US intel to the New York Times in what Carlson called an effort to discredit him and potentially get his show canceled. 

The claim comes amid heightened tensions following the United States and Israel’s war against Iran. Carlson framed the surveillance as politically motivated, suggesting intelligence agencies are weaponizing communications with foreign contacts against domestic critics.

The latest from the rumor mill on this is that Trump used Tucker as a useful idiot back-channel to deceive the Iranians into thinking we were cool.

Loomer Loving It

The revelation immediately drew fire from pro-Israel / pro-Iran-war activist Laura Loomer, a vocal Trump supporter and longtime critic of Carlson, who is anti-war and anti-Zionist. Loomer, who has repeatedly accused Carlson of pro-Islamic sympathies, being a “virulent Jew hater,” and suggesting he should be held ‘criminally accountable‘ for “every shooting that happens at a Chabad or Synagogue,” took to X to celebrate the news and claim credit.

If Tucker Qatarlson gets charged for violating FARA and or leaking information to Russia, Saudi Arabia Iran or Qatar, I’m taking credit,” she wrote, adding “Islamic sympathizers always project onto others what they are likely guilty of.”

She says she’s has been “relentless” in lobbying GOP representatives, law enforcement, and the DOJ over Carlson’s alleged FARA violations. “You have no idea how relentless I have been in speaking to GOP reps and even reporting Tucker to law enforcement and the DOJ. I pray my efforts are successful,” Loomer posted. “Sounds like someone is trying to get ahead of a story. Lock him up!

Loomer resurfaced a February 2026 video of Carlson in Saudi Arabia alongside his brother Buckley Carlson and Tucker Carlson Network CEO Neil Patel, suggesting it showed improper foreign influence.

Shortly before that, she mocked Carlson, saying “If I was a foreign agent and doing something I shouldn’t be doing, I too would come up with an elaborate story about how the CIA was out to get me,” adding “Tucker sounds like someone who is about to be exposed for doing something  they know they shouldn’t be doing.”

How does she know it wasn’t Nick Fuentes?

 

Tyler Durden
Sun, 03/15/2026 – 22:50