Calls for enfeebled President Biden to call off his re-election bid are not only growing more numerous, but also more powerful, as three top Democratic officials — Senate Majority Leader Chuck Schumer, former House Speaker Nancy Pelosi, and House Minority Leader Hakeem Jeffries — have all reportedly told the president that his campaign is worse than hopeless. 

Suggesting a coordinated effort, news about three separate conversations that happened in the last week all dropped on Wednesday. The gap between the discussions and the reports is likely attributable to a desire to first give Biden a chance to bail out gracefully race before more pressure was added using leaks to the media.

BIDEN: “Look at the heat I’m getting because I, I named a, uh, the, uh, secretary of defense — the black man” 🥴 pic.twitter.com/PJYzDznpIV

— RNC Research (@RNCResearch) July 18, 2024

Pelosi was said to have shared specific polling results indicating Biden has no path to victory, and that his continued presence atop the 2024 ticket could doom the Democratic Party’s chances of re-taking control of the House. According to CNN’s sources, Biden insisted he can win, saying he’s seen polls that give him hope that it’s a closer race than other say. Trying to bolster her case, Pelosi asked longtime Biden advisor Mike Donilon join the call to review the numbers. 

According to a Thursday report in Axios, top Democrats think Biden may decide to drop out of the presidential race as soon as this weekend.

The seeming next step for Pelosi — and the others — would be a public statement urging Biden to quit. A Pelosi ally told Politico that such a statement is a possibility, saying, “The speaker does not want to call on him to resign, but she will do everything in her power to make sure it happens.” 

BIDEN: “And guess what? Save billions of tons of because of, of pollution, because people, uhwhenuhh, all the studies show, when you get from point A to point B in a train or a vehicle at the same distance you take the train.” pic.twitter.com/1yAzSGqTfq

— RNC Research (@RNCResearch) July 16, 2024

News of Pelosi’s conversation came soon after word that Schumer had his own pointed conversation with Biden on Saturday. In a personal visit to Biden’s home in Rehoboth Beach, Delaware, Schumer was said to have bluntly told Biden that quitting the race would be best for America and the Democratic Party.

Like Pelosi, Schumer attempted to use polling to paint a picture for the defiant 81-year-old. While many national polls show a relatively narrow margin, what counts is the seven battleground states — and Trump is ahead in all of them. Even CNN’s John King recently showed why Trump could be on track for a landslide win. While details are thinner, ABC News reports that Jeffries also voiced the same concerns directly to Biden, politely nudging him to quit. 

All of this came on what was already a very rough day for Biden. After looking especially weak speaking from podiums on the campaign trail, the White House announced that Biden had tested positive for Covid-19 and would return to Delaware to isolate while still performing his presidential duties. Notably, as he boarded and exited Air Force One, he was maskless — something that contravenes a leftist core belief.

More notable than his bare face was his exceedingly frail appearance: 

After exiting Air Force One, President Biden appears to struggle getting into the car, ultimately requiring Secret Service to physically lift him into place and even manually adjust his legs for him. 😬 #Parkinsons pic.twitter.com/mgY2ojsUi9

— gato 🐝 (@reina_amarillo) July 18, 2024

Forget a second term — will Biden even finish his first? 

Authored by Mike Shedlock via MishTalk.com,

Let’s tune into the Fed’s Beige Book summary of economic activity in the twelve Federal reserve districts.

Summary below from The Beige Book Summary of Commentary on Current Economic Conditions.

Beige Book Overall Activity Key Points

• Seven Districts reported some level of increase in activity, five noted flat or declining activity—three more than in the prior reporting period.

• Wages continued to grow at a modest to moderate pace in most Districts, while prices were generally reported to have risen modestly.

• Household spending was little changed this period according to most District banks. Auto sales varied across Districts this cycle, but some Districts noted that sales were lower due in part to a cyberattack on dealerships and high interest rates.

• Most Districts saw soft demand for consumer and business loans. Reports on residential and commercial real estate markets varied, but most banks reported only slight changes, if any, in recent weeks. Travel and tourism grew steadily and was on par with seasonal expectations.

• Districts also reported widely disparate trends in manufacturing activity ranging from brisk downturn to moderate growth.

Boston: Economic activity rose modestly on balance. Prices increased slightly, and wage growth was slow amid stable employment levels. Residential real estate activity increased with improvements in supply, but commercial activity remained flat with increasing concerns for office leasing activity. The outlook remains cautiously optimistic, but contacts continue reporting elevated uncertainty.

New York: On balance, regional economic activity was little changed. Labor market conditions continued to moderate, with labor demand easing and the supply of workers increasing noticeably. Consumer spending was up slightly and remained solid. Though inventory increased, home sales activity remained restrained. Selling prices continued to increase at a modest pace.

Philadelphia: Business activity continued to grow slightly in the current Beige Book period. Nonmanufacturing activity lifted job growth to a modest pace; however, wage inflation remained modest. Firms reported modest increases in costs paid and prices received and noted increased competition in consumer-facing sectors. Expectations for future growth remained slightly positive overall—waxing for most firms, but waning for manufacturers.

Cleveland: District business activity declined slightly in recent weeks, and contacts expected flat activity in the months ahead. Consumer spending continued to decline modestly, and demand for manufactured goods softened. Employment levels remained flat. Overall, contacts indicated that wage and input cost growth remained moderate, and that selling prices grew modestly.

Richmond: The regional economy grew slightly this period, down from a modest pace of growth reported last cycle. Consumer spending on goods and food services was generally flat to up only slightly; however, spending on leisure travel increased moderately, particularly in coastal areas of our region. Employment grew slightly and wage growth continued to exceed price growth, putting downward pressure on margins for some businesses. Price growth remained moderate.

Atlanta: Economic activity was relatively flat. Labor markets stabilized; wage growth eased. Nonlabor inputs cost growth slowed, on net. Consumer demand remained flat. Business and group travel improved. Home sales were flat or slightly down. Transportation activity was mixed. Loan demand was flat. Energy activity was mixed. Agricultural conditions improved.

Chicago: Economic activity increased slightly. Employment was up modestly; business and consumer spending rose slightly; nonbusiness contacts saw little change in activity; and manufacturing and construction and real estate activity edged down. Prices were up modestly, wages rose moderately, and financial conditions loosened a bit. Prospects for 2024 farm income decreased slightly.

St. Louis: Economic activity across the Eighth District has continued to slightly increase since our previous report. Inflation pressures increased modestly, with slower price growth than in previous reports. Reports on consumer spending were mixed. District crop conditions remain stable with high rainfall mitigating excessive heat.

Minneapolis: District economic activity fell slightly. Employment grew but labor demand softened. Wage pressures remained moderate, and prices ticked up modestly. Consumer spending was flat but some segments remained healthy. Manufacturing fell and the outlook was negative. Commercial and residential construction improved slightly, and home sales were mixed. Agricultural conditions fell as farm income weakened.

Kansas City: The Tenth District economy expanded at a moderate pace. Hiring activity slowed as many businesses pulled back on new job postings, but employment levels were stable. Ongoing strength in labor markets supported modest growth in wages. Consumer spending grew at robust pace, driven by discretionary spending with particularly strong growth in travel-related consumption. Prices grew at a modest pace as pass-through of costs remained difficult.

Dallas: Economic activity rose slightly over the reporting period, buoyed by growth in nonfinancial services, finance, and energy sector activity. Housing demand and retail sales weakened in part due to elevated pricing and borrowing costs, while manufacturing output held steady. Employment increased, and wage growth was moderate, though pressures eased. Outlooks were less pessimistic overall.

San Francisco: Economic activity and employment levels were stable. Wages and prices grew slightly, while retail sales fell slightly. Activity was mixed in services, manufacturing, and commercial real estate sectors, but continued to slow in residential real estate. Conditions in agriculture weakened a bit. Financial sector conditions were little changed.

The Progression

• Modest to Slight or Flat (2)

• Slight to Flat or Decline (5)

• Flat to Decline (3)

• Already Declining (2)

This looks very recessionary because it is very recessionary. I think within 2-3 months a majority will be in decline.

Recession When?

I thought recession started in May or June and I have seen little to change my minds but perhaps I am a couple months early.

For discussion, please see Weak Data Says a Recession Has Already Started, Let’s Now Discuss When

Joe Biden glitched hard whilst trying to pander to black voters, forgetting the name of his own Secretary of Defense, Lloyd Austin, and instead referring to him as “the black man.”

Then, struggling to remember any black person’s name, he whips out Supreme Court Justice “Ketanji Brown” who Biden nominated.

“And so, it’s all about, it’s all about treating people with dignity. It’s about making sure that—look. I mean, for example, look at the heat I’m getting because I named uh, the secretary of defense, the Black man, I named Ketanji Brown, I mean, because of the people I’ve named.”

BIDEN: “Look at the heat I’m getting because I, I named a, uh, the, uh, secretary of defense — the black man” 🥴 pic.twitter.com/PJYzDznpIV

— RNC Research (@RNCResearch) July 18, 2024

And no Joe, you got heat because Austin is a former Raytheon board member.

Going back in time, recall that Biden – who started his career in Congress with a KKK ‘Exalted Cyclops’ mentor (Robert Byrd)…

In 1977, Biden said that forcing schools to desegregate schools with bussing programs would cause his children to “grow up in a racial jungle.”

And of course, Biden referred to Barack Obama as “the first mainstream African-American who is articulate and bright and clean and a nice looking guy.”

Never forget how he described Obama! pic.twitter.com/cY4aYXbw5y

— josette caruso (@josettecaruso) July 18, 2024

 Imagine what Biden calls Pete Buttigieg, or his transgender assistant Secretary of Health, Rachel Levine?

Shares of Domino’s Pizza in premarket trading in New York crashed the most since late 2008 following a surprise announcement in an earnings report this morning about the company cutting its 2024 international store-growth target due to “challenges” faced by franchisee Domino’s Pizza Enterprises. Also, the company “temporarily suspended” its long-term guidance metric of plus 1,000 global net stores annually.

Domino’s US same-store sales increased by 4.8% in the second quarter, missing the 4.92% average estimate tracked by Bloomberg. Internationally, comparable sales surpassed estimates, rising by 2.1%

Here’s a snapshot of the second quarter results (courtesy of Bloomberg):

• Revenue $1.10 billion, +7.1% y/y, estimate $1.1 billion (Bloomberg Consensus)

• Total domestic stores comp sales growth +4.8%, estimate +4.92%

• Domestic franchise comparable sales growth +4.8%, estimate +4.87%

• Domestic co-owned comparable sales growth +4.5%, estimate +6.08%

• International comparable sales +2.1%, estimate +0.89%

• Adjusted EPS $4.03, estimate $3.69

• Operating income $196.1 million, estimate $203.4 million

• Restaurant margin 17.6%, estimate 18.5%

Wall Street analysts focused on the company’s announcement that it is “temporarily suspending its guidance metric of 1,100+ global net stores until the full effect of Domino’s Pizza Enterprises’ store openings and closures on international net store growth is known.” 

Domino’s expects to open 175 stores annually in the US between now and 2028, but international openings will drop 175 to 275 stores below its 2024 goal of more than 925 new stores. 

“The company is partnering closely with Domino’s Pizza Enterprises as they work through this process and will provide further updates once it has more visibility into the effect on its annual global net store growth numbers,” said Domino’s.

The news sent shares in New York crashing nearly 15% in the premarket. If losses are sustained through the cash session, this would be the largest daily decline since the 17.87% plunge on December 1, 2008.  

The pizza bubble is reversing. 

Here’s what Wall Street analysts are saying about the earnings report (courtesy of Bloomberg): 

Citi, Jon Tower

• “Crux” of investor frustration over this print will be the suspension of Domino’s long-term unit growth plans “merely 8 months after the company issued new longer-term targets,” Tower writes

• Domino’s unexpected lowered 2024 international unit growth goal to 650–750 from 925+ will “shake investor confidence” in management’s broader guidance and pressure shares, which have been trading at a premium multiple vs. global quick-service peers in recent quarters amid “greater relative visibility into longer-term drivers of the business”

• While the issue seems to be “isolated to the brand,” Tower says other “fast-growing and global quick service operators” probably come under pressure in the near term

• Rates neutral

Baird, David Tarantino

• Notes recent expectations for US comparable sales were +5-6%, and flags that Ebit was softer than anticipated

• “Although somewhat disappointed that Q2 results did not live up to elevated expectations, the key components of our positive thesis are largely intact, and as a result, we see a good risk/reward in buying DPZ on the anticipated pullback”

• Says small differences in international unit growth “do not have major impact on DPZ’s earnings growth in a given year,” so he’s optimisitic the company is on track to deliver results at or above its annual growth targets for system sales and Ebit this year * Rates outperform with PT $580

Bernstein, Danilo Gargiulo

• Says the comparable sales growth in domestic markets and the re-acceleration of trends in international markets encouraging 

• “At the same time, while we remained cautious on unit growth in intl’ markets, the suspension of guidance suggests that the challenges in the portfolio of stores may be more enduring than we had anticipated”

• Rates market perform with PT $510

Is the pizza bubble toast?

Authored by Jonathan Turley,

France’s Sports Minister, Amélie Oudéa-Castéra, has announced that French Muslim athletes will be barred from wearing hijabs at the Olympics. The decision is a gross violation of the religious freedom of Muslim athletes and should be condemned throughout the world.

I have long been critical of the French crackdown on Muslim head coverings and swimwear. Officials insist that such religious clothing is inconsistent with the secular laws of the country.

The denial of basic religious freedom in France is consistent with the French denial of free speech protections. As discussed in my new book, free expression is in tatters in France.

France has been a leader in the rollback on free speech in the West with ever widening laws curtailing free speech.

These laws criminalize speech under vague standards referring to “inciting” or “intimidating” others based on race or religion. For example, fashion designer John Galliano has been found guilty in a French court on charges of making anti-Semitic comments against at least three people in a Paris bar.

At his sentencing, Judge Anne Marie Sauteraud read out a list of the bad words used by Galliano to Geraldine Bloch and Philippe Virgitti, including using ‘dirty whore” in criticism.

In another case, the father of French conservative presidential candidate Marine Le Pen was fined because he had called people from the Roma minority “smelly.” A French teenager was charged for criticizing Islam as a “religion of hate.”

The freedoms of speech and religion are co-existent and co-dependent.

Religious speech is the leading target of government crackdowns under blasphemy laws and censorship systems. The freedom of speech sustains all other rights, which is why it is accurately called “the indispensable right.”

It is little surprise that a nation that criminalizes speech would also deny religious expression and observances.

There should be global outrage over the refusal to allow French Muslim women to practice their religious values. These women want to compete for their nation but their nation will not allow them to do so in a way that is consistent with their faith.

Every nation should protest this action and demand that France reverse its intolerant position.

Max Boot – a big fan of ‘forever wars‘ who laundered Trump-Russia conspiracy theories through the Washington Post – is married to a South Korean spy who used to work for the CIA, and is a senior fellow at the Council on Foreign Relations (now on ‘administrative leave) – according to a new indictment revealed on Wednesday.

Boot’s wife, Sue Mi Terry, 54, a native of Seoul living in Manhattan, used her position as a foreign policy expert to trade access to top US officials in exchange for luxury goods and ‘high-end sushi dinners,’ according to the indictment.

Terry allegedly began spying for South Korea in October 2013, five years after she left the CIA, and three years before Boot began calling Donald Trump a Russian asset.

Max Boot, spy hunter. pic.twitter.com/asdKE2R46d

— Chad West (@Chad_WestReal) July 17, 2024

Max Boot, one of the chief purveyors of the “Russian asset” narrative, is married to an unregistered foreign agent? And she has been indicted for selling access, accepting bribes, sharing non-public info with South Korean officials, etc.?

That … you couldn’t write that. https://t.co/7gkfFVbWD6

— T. Becket Adams (@BecketAdams) July 17, 2024

Terry is accused of having “disclosed sensitive US government information to South Korean intelligence and used her position to influence US policy in favor of South Korea” over the course of a decade, in exchange for “money and luxury gifts,” FBI Acting Assistant Director in Charge Christie M. Curtis said in a statement.

From 2001-2011, Terry served in a range of US government positions – including as a CIA analyst, as well as Director for Korea, Japan, and Oceanic Affairs for the White House National Security Council, the Post reports.

According to the indictment, a South Korean spy bought Terry a Dolce & Gabbana coat from a Chevy Chase, Maryland store in November of 2019 – which she returned days later for a $4,100 Christian Dior coat.

The spies also funneled over $37,000 to a public policy program on Korean affairs run by Terry – who never registered as a foreign agent with the DOJ, and had been warned by the FBI in 2014 that she could be a target for illegal foreign influence.

Meanwhile, she was passing intelligence to her South Korean handler according to the indictment:

For instance, Terry delivered handwritten notes about a private North Korea-related June 2022 meeting with the US Secretary of State, Antony Blinken, to her South Korean intelligence handler who picked her up in a car minutes later, according to the indictment unsealed Tuesday.

Weeks after that, Terry hosted a happy hour – at her handlers’ behest – where she allowed the South Korean spy to mingle with congressional staffers while posing as a diplomat, the filing charges. –NY Post

The indictment also details how Terry was “visibly nervous” in a voluntary interview with the feds, and eventually admitted to having met with her South Korean handler after initially claiming she did not know his name. 

Terry was released after posting a $500,000 bond during her initial appearance in Manhattan federal court on Tuesday, and faces up to five years in prison if convicted.

“What are all these meetings and phone calls with South Korean officials about? Also, where are all these designer handbags coming from? There are no charges on our cards. It’s probably nothing. Anyway, here I go national securitizing again!”

— T. Becket Adams (@BecketAdams) July 17, 2024

What’s more, Boot and Terry co-published South Korean propaganda in the Washington Post…

Today we found out via an indictment that one of the Washington Post’s columnists, Max Boot, published a piece with his wife about South Korea based on talking points from that government while his wife was allegedly acting as a foreign agent for them.https://t.co/m3PoNODIVO pic.twitter.com/8l1COr43ny

— AG (@AGHamilton29) July 17, 2024

Max Boot co-wrote and WaPo published a column on US Korea relations with his wife who is also a Korean spy. pic.twitter.com/NzDxayA2MS

— Jarvis (@jarvis_best) July 17, 2024

Boot also had the back of Rep. Eric Swalwell (D-CA), who allegedly banged a Chinese spy.

Today we found out via an indictment that one of the Washington Post’s columnists, Max Boot, published a piece with his wife about South Korea based on talking points from that government while his wife was allegedly acting as a foreign agent for them.https://t.co/m3PoNODIVO pic.twitter.com/8l1COr43ny

— AG (@AGHamilton29) July 17, 2024

Amazing…

🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣😂😂🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣😂Max Boot was married to a foreign agent… https://t.co/OV1ptWc5lh

— Jeff Carlson (@themarketswork) July 17, 2024

Authored by Tom Kool via OilPrice.com,

China aims to avoid coal shortages during the peak summer demand season by stockpiling coal and increasing production.

China boosted its coal production in June to the highest level in six months as it looked to meet power demand for cooling in the summer and as eased mining safety inspections allowed some mines to resume operations. 

Chinese coal production stood at 405.38 million metric tons in June, the highest volume since December 2023 and a 3.6% rise compared to June last year, according to data from China’s National Bureau of Statistics (NBS) reported by Reuters on Monday.  

Earlier this year, Chinese coal output was weaker, due to numerous safety inspections at mines following deadly incidents, and lowered production in the province of Shanxi, China’s top coal-producing area, which accounts for nearly 30% of domestic output. 

Coal output in China has wobbled this year after authorities in the northern province of Shanxi ordered in February miners to reduce production and carry out safety inspections between March and May, following several fatal incidents at mines in China in recent months. 

In April, for example, Chinese coal production fell to the lowest level since October 2022, according to Reuters estimates. The decline was the result of weak coal prices and continued safety inspections at mines. 

China continues to rely on coal and coal-fired power generation to meet its growing power demand, and despite being the world’s top investor in solar and wind capacity, it also plans a lot of new coal-fired electricity capacity.

Ahead of the summer, China, the world’s biggest coal consumer, had accumulated inventories of 162 million tons of coal over the first five months of the year, equal to about 8.5% of consumption during those five months, per data from cqcoal.com cited by Bloomberg last month.

China has been stocking up on coal in anticipation of peak demand during the summer.

After several years of coal shortages during peak summer demand season, this year may be the first year that China avoids one. 

Authored by T J Muscaro via The Epoch Times,

The International Space Station (ISS) is coming down.

NASA and SpaceX leaders announced their plan on July 17 to retire the ISS safely while maintaining an uninterrupted human presence in low Earth orbit.

Using the $843 million contract it won in June, SpaceX will create a one-off variant of the Dragon Cargo spacecraft that will direct the ISS into a controlled re-entry over a still-undecided area of ocean by 2030.

NASA unveils concept of the SpaceX-designed US Deorbiting Vehicle (USDV) on July 17, 2024. (NASA)

Sarah Walker, SpaceX’s director of Dragon mission management, said the vehicle will have an enlarged service module or “trunk” that will hold six times more propellant—more than 35,000 pounds—and four times more power than the current Dragon spacecraft.

SpaceX and NASA shared concept art of the US Deorbiting Vehicle on X in the lead-up to the press conference.

Dana Weigel, manager of NASA’s International Space Station Program, said that the deorbiting vehicle will be launched “about one to one-and-a-half years before final reentry.”

Once docked, the ISS will “drift down” to 220 km (136 miles) above the Earth’s surface over the following year.

Once in position, the vehicle will fire its 30 Draco engines for a series of burns setting up for a final re-entry burn four days later.

The deorbiting vehicle will be tasked with firing its engines to keep the station on course and powering it when comes into contact with thickening layers of the upper atmosphere during its descent.

NASA plans to fully utilize the station with a human crew for as long as possible, aiming to maintain occupation for up to six months before re-entry.

Three private companies are currently developing their own free-flying space stations.

One of which, Axiom, plans to connect its first modules to the ISS in its early development.

NASA is aiming to overlap operations on the ISS and private space stations before re-entry, ensuring its ongoing streak of human presence in space continues.

More than $1 billion is wanted for the monumental project, and NASA officials told reporters that each space agency connected to the ISS—including JAXA, the ESA, and the Russian space agency Roscosmos—would contribute based on their percentage of the station’s overall mass.

All ISS partners have already been briefed and agree with the overall plan.

Elon Musk’s private spacefaring company will only be designing the orbit-bound vehicle while NASA will be responsible for the launch vehicle.

Ms. Weigel said that a “dwell in storage” requirement was added to the contract, demanding SpaceX deliver the spacecraft in a timely manner, allowing NASA to have it on hand, even if they have to delay the flight.

By modifying actively flying spaceships, SpaceX is incorporating hardware that is already NASA-certified and flight-proven.

However, despite the familiarity, Ms. Weigel said that the typical time to develop a new spacecraft is between five and eight years, which is why they saw a need to begin this project.

She said it usually takes three years to procure the rocket capable of launching the deorbiting vehicle into orbit.

The International Space Station is nearly 30 years old and has been continually occupied since November 2000.

It has been visited by 280 people from more than 20 countries, including more than 160 from the United States.

Former astronaut and space station crew member Ken Bowersox, current associate administrator of NASA’s Space Operations Mission Directorate, said he was “excited” to talk about the deorbit vehicle.

“It’s about the future,” he said. “It’s about what we’re gonna do out in the next decade. And it’s about preparing for that future, preparing for what we’re going to do with ISS.

“And so we can take our mind off what we do at the end of ISS and concentrate on getting as much as we possibly can out of it.”

But he and Ms. Weigel also said this launch into the future probably won’t preserve much of the past.

“There’s some little things up on ISS that I think we’ll probably want to bring home on the last cargo dragon that comes down,” Mr. Bowersox said, mentioning log books, mission patches, and some panels.

“I can’t see us affording any dedicated missions right now.”

Mr. Bowersox didn’t rule out the possibility of a salvage mission to the crash site or missions and funded requests from partner nations and museums such as The Smithsonian to secure would-be artifacts of a bygone era of space travel, but nothing is planned.

Authored by Jeffrey Tucker via The Brownstone Institute,

There is only one major social media platform that is relatively free of censorship.

That is X, once known as Twitter, and owned by Elon Musk, who has preached free speech for years and sacrificed billions in advertising dollars in order to protect it.

If we don’t have that, he says, we lose freedom itself. He also maintains that it is the best path to finding the truth. 

The crisis that broke out after the attempt on Donald Trump’s life put the principle in motion. I was posting regular updates and never censored. I’m not aware of anyone who was.

We were getting second-by-second updates in real time. The videos were flying along with every conceivable rumor, many false and then corrected, alongside free speech “spaces” in which everyone was sharing their views. 

During this time, Facebook and its suite of services fell silent, consistent with the new ethos of all these platforms. The idea is to censor all speech until it is absolutely confirmed by officials and then permit only that which is consistent with the press releases. 

This is the habit born of the Covid years, and it stuck. Now all the platforms avoid any news that is fast in motion, except to broadcast precisely what they are supposed to broadcast. Maybe that works in most times when people are not paying attention. Readers do not know what they are missing. The trouble was that during these post-shooting hours when nearly everyone on the planet wanted updates, there were no press releases forthcoming. 

By habit, I reached for what was once called television. The networks had plenty of talking heads and newscasters with their usual eloquence. What was missing from all the broadcasts that I saw in these hours were any factual updates. They too were waiting for confirmation of this or that before putting out any information at all beyond the basics. They let their “experts” speak as long as possible just to waste time before rolling out new advertisements. 

Over time, I realized something. X was driving the whole of the news, while the newscasters had to wait for permission before reading scripted lines. 

Meanwhile, on X, the situation was utterly wild. Posts were flying fast and furious. New rumors would circulate (the shooter’s name and affiliations, stories about a second shooting, claims that Trump was hit in the chest, and so on). But shortly after the rumor circulated, so did the debunking. The feature called “Community Notes” kept the faulty news in check, while the truth gradually circulated to the top. This happened on topic after topic. 

The wildest theories ever were permitted to appear, while others would debunk them with reasoned arguments. The readers could decide for themselves. You could see how the seeming chaos gradually organized itself into communities seeking verification. Posters grew ever more careful about posting claims that could not be verified, or at least explaining what they were. 

X was single-handedly holding the whole of the corporate media to account, and reporters and editors very obviously came to depend on their X feeds to figure out what to say next. It was the same with newspapers. When NYT, CNN, WaPo, and so on would make major missteps, posters on X would call them out, the word would reach the editors, and the headline or story would change. 

In the end, X became the one place where you could find the fullness of truth. All the while, the old-world media was dishing out the most ridiculous headlines one could imagine. For many hours, the New York Times, CNN, Washington Post, and other such venues refused to say it was an assassination attempt on Trump. The headline led people to believe that this was a MAGA rally with some random shooters that got carried away and so Trump had to be ushered out. This really did happen, and readers were outraged. 

CNN was probably the worst offender, with the following headline: “Secret Service Rushes Trump Offstage As He Falls at Rally.”

It took many hours and repeated attempts but eventually the mainstream media finally said that the incident was “being investigated” as an assassination attempt, even though it was very obvious that it was an attempt on his life that he barely survived with the slight turn of his head. 

It was the kind of flurry of nonsense that further discredited the old corporate media right there in front of an entire planet that was no longer believing anything they said. 

It’s hard to know why the corporate press did this. Were they just cautious and worried about misinformation? If so, how come so many of their headlines were of the same sort, that which refused to say that someone just tried to kill Trump? Were they just in the habit of waiting for officials to tell them what to say? Was it raw TDS that was driving this? It’s hard to know but the failure was conspicuous and obvious to all. 

What stood out above all else was the way free speech on X worked to ferret out the real story, while actually driving forward the mainstream press to correct its errors and get the story right. One shudders to think how it would have all taken place in absence of this one platform, which became the go-to place for everyone. The most important lesson: free speech worked. And beautifully. 

All Western societies are currently struggling with the question of just how much speech to allow on the Internet. The trajectory for years now has not been a good one. Once-free platforms have become more frozen, more propagandistic, more staid, and duller, even as this one platform has created a culture of freedom combined with community-driven accountability. 

This freedom accomplished exactly what it was supposed to accomplish, while the censored platforms held onto misinformation much longer than they should have been. 

Which makes the point. Too often, the battle over free speech is framed as misinformation/freedom vs. facts/truth/restriction. The very opposite has proven to be the case. The free platform proved itself capable of quick course correction alongside maximum agility in processing the floods of constant new information. Meanwhile, the venues in which “misformation” has been anathematized ended up being the major source of exactly that. 

Freedom works. As messy as it is, it works better than any other system. Meanwhile, governments of the world have targeted X for destruction. Advertisers continue to boycott and regulators continue to threaten. 

So far, it has not worked and thank goodness.

But for X, the last 24 hours would have looked very different: nothing but propaganda, apart from a few marginal places here and there.

Therein lies another irony: the way X is managed is increasing trust rather than reducing it. 

The lesson should be obvious. The answer to the problems of free speech is more of it.