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Missouri Teen Arrested After Footage Shows Her Brutally Beating Girl Into A Seizure

Missouri Teen Arrested After Footage Shows Her Brutally Beating Girl Into A Seizure

Authored by Steve Watson via Modernity.news,

Police in St Louis, Missouri have arrested a teenage girl after footage emerged of a confrontation showing a savage beating of a student from Hazelwood East High School.

The disturbing video shows the girl repeatedly smashing the other student’s head into the concrete while repeatedly calling her a “bitch,” and then leaving her having a seizure on the ground.

A group of students then began an all out brawl before police were called to the scene close to the school this past Friday.

The girl reportedly suffered a traumatic brain injury and is listed in critical condition in hospital, while the assailant was arrested on assault charges Saturday, taken to the St. Louis County Family Court and held in custody through to Sunday.

Social media content suggests that the victim had been the target of bullying at the school.

James Clark, vice president of public safety and community response at the Urban League, described the incident as “a glimpse into the mentality and the culture of our young people.”

“The social pressure is to be socially dysfunctional,” he told KSDK, adding “Who can be the loudest? Who can be the most disruptive?”

“Bullying and fighting in the community is an issue for which we all need to take ownership and work towards a resolution for the sake of our children,” school officials said in a statement.

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Tyler Durden
Mon, 03/11/2024 – 10:45

“Trump Just Sold Out”: Bizarre TikTok Flip-Flop Followed Meeting With Hedge Fund Manager Who Has $30 Billion Investment

“Trump Just Sold Out”: Bizarre TikTok Flip-Flop Followed Meeting With Hedge Fund Manager Who Has $30 Billion Investment

Donald Trump is now to the left of President Biden when it comes to TikTok – with Biden telling reporters recently that if Congress passes a bipartisan proposal that could ban the Chinese-owned video-sharing app on national security grounds (whether it actually poses a threat or not), I’ll sign it.

The comment came after the House Energy and Commerce Committee unanimously passed the bipartisan bill that would force the sale of TikTok by ByteDance, or face a ban in the United States. According to Punchbowl News, House Majority Leader Steve Scalise wants it on the floor Wednesday of this week.

Former President Trump, however – despite repeatedly pushing for a TikTok ban or sale when he was President, has done a complete 180 on the company – and now claims that TikTok, the alleged national security risk, should be allowed to continue on because getting rid of it would benefit Mark Zuckerberg and Facebook.

If you get rid of TikTok, Facebook and Zuckerschmuck will double their business,” Trump posted to Truth Social.

He reiterated the comments in a Monday appearance on CNBC.

Earlier in Trump’s answer he seemingly blamed ‘lobbyists’ for Congress’s inability to ban TikTok when he was president.

…yet, that appears to be exactly what happened to Trump – who recently met with billionaire fund manager and GOP donor Jeff Yass, who has a stake in TikTok worth more than $30 billion, according to Punchbowl News.

Yass is a big financial backer of the conservative group Club for Growth, which was anti-Trump before recently turning pro-Trump. Yass has given $10 million to the Congressional Leadership Fund — the House GOP-aligned super PAC — this cycle, as well as another $250,000 to a joint leadership fund for Speaker Mike Johnson.

2) Politico reported this weekend that Kellyanne Conway, the former top Trump aide, “is being paid by the conservative Club for Growth to advocate for TikTok.” Conway — who isn’t registered as a TikTok lobbyist — called some members about Reps. Mike Gallagher (R-Wis.) and Raja Krishnamoorthi’s (D-Ill.) TikTok bill before Thursday’s markup, sources close to the issue said. -Punchbowl News

On Sunday, The National Pulse reported that former Trump aide Kellyanne Conway has begun lobbying for TikTok – and is “claiming regulatory ‘guardrails’ would be better, peddling the pro-CCP line to Congress members.”

This isn’t about whether TikTok is actually a national security threat, or about limiting free speech on a platform (that regularly curates degeneracy to American children). Trump’s flip-flop was very clearly due to outside influence.

Meanwhile, potential Trump VP Vivek Ramaswamy also began the ‘it’s complicated’ messaging on TikTok. Hmm…

According to Punchbowl, Trump’s TikTok flip-flop, “has caused a big headache inside the House GOP leadership,” as Speaker Mike Johnson, Steve Scalise and GOP Conference chair Elise Stefanik (a possible Trump VP pick) are solidly behind the TikTok bill – with Stefanik being a cosponsor.

There have been some efforts by the GOP leadership to have Trump allies — especially in the national security realm — lobby Trump on the bill, which is slated to be voted on Wednesday.

Officially, House Republican leadership isn’t yet whipping the TikTok bill. The legislation is coming to the floor under suspension of the rules, which will require a two-thirds majority for passage. -Punchbowl News

Trump’s shift has not gone unnoticed.

Maybe Trump should keep bragging about his ‘safe and effective’ vaccine while he’s at it…

 

Tyler Durden
Mon, 03/11/2024 – 10:30

Key Events This Week: CPI, PPI And Retail Sales As Fed Enters Blackout Period

Key Events This Week: CPI, PPI And Retail Sales As Fed Enters Blackout Period

With 10yr US yields around -10bps lower, and the S&P 500 around +2% higher than where they were just before last month’s higher-than-expected CPI, DB’s Jim Reid concludes that “it’s fair to say that markets have shrugged off this upside print alongside the high PPI and core PCE prints that followed.” The question now is whether this week we get to do it all over again, but before we preview the US CPI (tomorrow) and PPI (Thursday), the other main US highlights are the NY Fed 1-yr inflation expectations survey (today), retail sales (Thursday) and UoM consumer sentiment (Friday). There are also 3-, 10- and 30-yr UST auctions today through Wednesday.

Expanding on the main event – tomorrow’s CPI print – with gas prices up around 4.1% from January, DB’s economists expect headline CPI (+0.41% forecast, consensus +0.4%, vs. +0.31% previously) to grow faster than core (+0.30%, consensus +0.3%, vs. +0.39% previously). This would bring YoY core CPI two-tenths lower to 3.7%, with headline flat at 3.1%. Of some concern would be the three-month annualized rate ‘only’ ticking down a tenth to 3.9% while the six-month annualised rate would rise a tenth to 3.7%. See our economists preview and post-print webinar registration details here.

For Thursday’s PPI, the main interest will be the sub components that feed into core PCE forecasts. One of the more important will be the PPI for portfolio management and investment advice, which tends to follow equity prices with a one-month lag. We’ve seen a further equity rally since last month so it could be firm again. This remarkably added about 8bps to the January core PCE print despite only being about 1.6% of the basket. Also keep an eye on the PPI for selected health care industries, as this category currently has the highest weight in core PCE.

In Europe, the monthly UK GDP for January on Wednesday and labor market indicators tomorrow come a week before the next BoE meeting. In Asia, we have China’s 1-yr MLF rate where DB economists think we will see a 15bps cut. In Japan, the 1st survey results from the important shunto wage negotiations will be released on Friday, which will be key ahead of the BoJ meeting a week tomorrow where speculation mounts that negative rates will end. These are the main highlights but see the full week ahead at the end for all the week’s key global events.

here is a day-by-day calendar of events

Monday March 11

  • Data: US February NY Fed 1-yr inflation expectations, Japan February PPI, machine tool orders
  • Central banks: BoE Quarterly Bulletin article on investment
  • Earnings: Oracle
  • Auctions: US 3-yr Notes ($56bn)

Tuesday March 12

  • Data: US February CPI, NFIB small business optimism, monthly budget statement, UK January weekly earnings, employment change
  • Central banks: ECB’s Holzmann speaks, BoE’s Mann speaks
  • Earnings: Porsche
  • Auctions: US 10-yr Notes (reopening, $39bn)

Wednesday March 13

  • Data: UK January monthly GDP, trade balance, industrial production, index of services, construction output, Italy Q4 unemployment rate quarterly, Eurozone January industrial production
  • Central banks: ECB’s Stournaras speaks
  • Earnings: Inditex, Adidas, Dollar Tree, Volkswagen
  • Auctions: US 30-yr Bonds (reopening, $22bn)

Thursday March 14

  • Data: US February retail sales, PPI, January business inventories, initial jobless claims, UK February RICS house price balance, Germany January current account balance, Canada January manufacturing sales
  • Central banks: ECB’s Stournaras speaks
  • Earnings: Adobe, RWE, Rheinmetall, Dollar General

Friday March 15

  • Data: US March University of Michigan consumer sentiment, Empire manufacturing index, February industrial production, import price index, export price index, capacity utilization, China February new home prices, Japan January tertiary industry index, Italy January trade balance, retail sales, general government debt, Canada January international securities transactions, February housing starts
  • Central banks: BoE’s inflation attitudes survey, China 1-yr MLF rate, ECB’s Vujcic speaks

* * *

Fianlly, looking at just the US, Goldman writes that the key economic data releases this week are the CPI report on Tuesday and the retail sales and PPI reports on Thursday. There are no speaking engagements by Fed officials scheduled this week, reflecting the blackout period in advance of the FOMC meeting on March 19-20.

Monday, March 11

  • There are no major economic data releases scheduled.

Tuesday, March 12

  • 06:00 AM NFIB Small business optimism, February (consensus 90.6, last 89.9)
  • 08:30 AM CPI (mom), February (GS +0.44%, consensus +0.4%, last +0.3%); Core CPI (mom), February (GS +0.32%, consensus +0.3%, last +0.4%); CPI (yoy), February (GS +3.15%, consensus +3.1%, last +3.1%); Core CPI (yoy), February (GS +3.71%, consensus +3.7%, last +3.9%): We estimate a 0.32% increase in February core CPI (mom sa), which would lower the year-on-year rate by two tenths to 3.7%. Start-of-year price increases temporarily boosted prices in labor-reliant services categories in January, and with this January effect now behind us, we forecast a return to the previous inflation trend, specifically for medical care, personal care, car repair, and day care services. We also assume a step down in the OER category following outsized volatility in January (we estimate +0.47% for OER and +0.42% for rent, compared to +0.56% and +0.36% in January). We assume small declines in new (-0.3%) and used (-0.4%) car prices, reflecting higher incentives and lower auction prices. On the positive side, we assume a 1.5% rise in airfares and another strong gain in car insurance (+1.6%), based on online price data. We estimate a 0.44% rise in headline CPI, reflecting higher energy (+2.4%) and food (+0.15%) prices.

Wednesday, March 13

 

  • There are no major economic data releases scheduled

Thursday, March 14

  • 08:30 AM Retail sales, February (GS +0.7%, consensus +0.8%, last -0.8%); Retail sales ex-auto, February (GS +0.3%, consensus +0.5%, last -0.6%); Retail sales ex-auto & gas, February (GS +0.2%, consensus +0.3%, last -0.5%); Core retail sales, February (GS +0.2%, consensus +0.4%, last -0.4%): We estimate core retail sales rose 0.2% in February (ex-autos, gasoline, and building materials; mom sa). Our forecast reflects mixed credit card spending data following strength during the holiday season. We estimate a 0.7% rise in headline retail sales, reflecting a rebound in auto sales and higher gasoline prices.
  • 08:30 AM PPI final demand, February (GS +0.3%, consensus +0.3%, last +0.3%); PPI ex-food and energy, February (GS +0.2%, consensus +0.2%, last +0.5%); PPI ex-food, energy, and trade, February (GS +0.3%, consensus +0.3%, last +0.6%);
  • 08:30 AM Initial jobless claims, week ended March 9 (GS 210k, consensus 217k, last 217k); Continuing jobless claims, week ended March 2 (GS 1,915k, last 1,906k)
  • 10:00 AM Business inventories, January (consensus +0.2%, last +0.4%)

Friday, March 15

  • 08:30 AM Empire State manufacturing survey, March (consensus -8.0, last -2.4)
  • 08:30 AM Import price index, February (consensus +0.3%, last +0.8%)
  • 09:15 AM Industrial production, February (GS +0.5%, consensus flat, last -0.1%); Manufacturing production, February (GS +0.4%, consensus +0.3%, last -0.5%); Capacity utilization, February (GS 78.7%, consensus 78.5%, last 78.5%): We estimate industrial production increased 0.3%, as strong oil and gas and mining production outweigh weak natural gas and electricity production. We estimate capacity utilization increased to 78.7%.
  • 10:00 AM University of Michigan consumer sentiment, March preliminary (GS 77.6, consensus 77.3, last 76.9): University of Michigan 5-10-year inflation expectations, March Preliminary (GS 3.0%, consensus 2.9%, last 2.9%): We expect the University of Michigan consumer sentiment index increased to 77.6 in the preliminary March reading. We estimate the report’s measure of long-term inflation expectations rose 0.1pp to 3.0%, reflecting higher gasoline prices and the higher-than-expected price data reported in February.

Source: DB, Goldman, BofA

Tyler Durden
Mon, 03/11/2024 – 10:20

Nikkei Plunges As Yen Soars Ahead Of BOJ Policy Change

Nikkei Plunges As Yen Soars Ahead Of BOJ Policy Change

In the past several months, we had been shocked by how much digital ink was spilled to praise Japan’s “stock market revival”, which according to very serious economists was based on strong fundamentals and was justified by the economy (which recently slumped into recession)…

… when in reality the entire move was driven by the relentless collapse and premeditated destruction of Japan’s currency at the hands of the Bank of Japan. So much so that long USDJPY was – together with long Treasuries – the most consensus trade of 2024.

And then overnight we got a reminder of just how little Japanese stock performance is fundamentally driven, and how it is entirely a function of the weak yen, when the latest counter-trend surge in the yen sent the Topix and Nikkei225 both plunging as much as 3%, the biggest drop since October 4, amid growing speculation the Bank of Japan will raise interest rates lifted the yen and hurt exporters, while a report in local press claimed that the BOJ could end Yield Curve Control – which has defined Japan’s bond market for the past decade and kept yields from exploding – as soon as this month.

Automakers and banks were among sectors leading the drop on the Topix which closed 2.2% lower at 2,666.83 in Tokyo, with 31 of 33 sub-sectors dropping, after a powerful buying thrust in the last 30 minutes prevented a LOD close. The exporter-heavy Nikkei 225 declined 2.2% to 38,820.49, leading losses in Asia. Tech shares slumped, following US peers lower, as investors took profit from some of the top performers over the past year.

Automobile companies such as Toyota Motor Corp. contributed the most to the Topix’s decline, decreasing 3.1%. Out of 2,150 stocks in the index, 302 rose and 1,807 fell, while 41 were unchanged. Semiconductor companies including Renesas Electronics Corp. dropped after Nvidia Corp. and other US tech stocks fell amid profit-taking. The Philadelphia Semiconductor index tumbled 4% on Friday.

The catalyst for the drop was the surge in the yen which strengthened as much as 0.4% to 146.54 vs the dollar, putting the trade we suggested to our premium subs one month ago deep in the money.

The surge in the yen quickly freaked out all those who said Japanese stocks were rising purely on fundamentals, because… well, the recent record high had absolutely nothing to do with fundamentals.

“Until we see the results of the BOJ’s policy next week, it will be difficult to buy in the stock market due to concerns about the yen’s strength,” Shoji Hirakawa, strategist at Tokai Tokyo. “There are no signs of a USDJPY rally in the currency markets.”

But… but… what does USDJPY have to do with stock markets? Guess the answer is… everything, just ask the Weimar Republic.

Expectations the BOJ will tweak policy at the March 18-19 meeting were further fueled by a report in local Jiji that the bank is considering scrapping its yield curve control program, and that a rising number of policymakers are leaning toward ending negative rates due to expected larger wage increases this year. Data Monday showing the economy avoided falling into a recession at the end of last year also bolstered the case for the BOJ to raise rates for the first time since 2007.

“Today’s sell-off reflects the realization that after many false dawns, the Bank of Japan’s exit from the Negative Interest Rate Policy is now likely just over one week away,” said Tony Sycamore, a market analyst at IG Australia Pty Ltd. “This means that investment decisions made over many years are hastily being re-evaluated to reflect a reality many were thinking was still months away.”

Guess “investing” is a little bit more difficult when the central bank isn’t doing it for you with endless currency debasement,huh?

The Nikkei recently hit the key 40,000 level for the first time after reclaiming its 1989 peak earlier this year but has since slumped, following the plunge in USDJPY.

The yen edged higher to 146.98 per dollar Monday, after four days of gains. The Nikkei recently hit the key 40,000 level for the first time after reclaiming its 1989 peak earlier this year. Foreign investors had been buying into Japan’s biggest companies on improving shareholder returns and the weak yen.

The yen looks poised to test the 145 level per dollar level and a break of that may prompt a quick move toward 140, said Amir Anvarzadeh, a strategist at Asymmetric Advisors Pte who said that “the market’s reaction to this seems to suggest that a lot has been riding on weak yen to continue to support multinationals rather than bets on changing corporate governance etc. which has been the trigger behind the more positive Japan narrative.”

Just as we have said all along.

Investors will be on the watch for whether the BOJ will buy exchange-traded funds after the Topix fell more than 2%. The last time the central bank purchased ETFs was in October of last year when the index dropped by a similar amount in the morning trading session. That follows an unwritten rule that only a drop of at least 2% in the benchmark gauge in the morning triggers BOJ buying of the funds.

The drop in stocks – and the USDJPY – may now become self-reinforcing because contrary to expectations for the BOJ to step in and save Mrs Watanabe, the Bank of Japan did not buy ETFs during the rout despite the Topix index falling more than 2%, a level widely seen as having been the central bank’s trigger for purchasing the instruments.

Realizing that the yen-devaluation driven party is over, Morgan Stanley strategist Gilbert Wong said that Japan’s momentum trade is at risk of unwinding – because that’s really all it is, one giant momentum trade – and the bank is “closely monitoring” the US unwinding in the last week because “historically US Momentum stocks have been highly correlated with Japan Momentum stocks.”

While Japan’s momentum stocks are still on the rise, with the 6-months rolling factor return approaching extreme territory
MS expects “the seasonality around the Japan dividend ex-date might keep it running into month-end, but the reversal risk in April could be high”, Wong cautioned.

Tyler Durden
Mon, 03/11/2024 – 10:05

Over 140,000 Farms Lost In 5 Years

Over 140,000 Farms Lost In 5 Years

By Daniel Munch of Farm Bureau

Between 2017 and 2022, the number of farms in the U.S. declined by 141,733 or 7%, according to USDA’s 2022 Census of Agriculture, released on Feb. 13. Acres operated by farm operations during the same timeframe declined by 20.1 million (2.2%), a loss equivalent to an area about the size of Maine. Only 1.88% of acres operated and 1% of farm operations were classified under a non-family corporate farm structure.

Conducted every five years, the Census of Agriculture collects data on land use and ownership, producer characteristics, production practices, income and expenditures. USDA defines a farm as an operation that produced and sold, or normally would have sold, $1,000 or more of agricultural products during the census year.

While the number of farm operations and acres operated declined, the value of agricultural production increased, rising from $389 billion in 2017 to $533 billion in 2022 (40% nominally and 17% adjusted for inflation). These updated numbers highlight the continuing trend of fewer operations farming fewer acres of land but producing more each year.

In addition to Ag Census data, USDA releases survey-based estimates on farm numbers once every year. Using this annual survey data dating back to 1950, the trend of fewer operations farming fewer acres becomes even more obvious. Since 1950, the number of farm operations has declined by 3.75 million (66%) and the number of acres farmed declined by 323 million (27%) – slightly less than twice the size of Texas. Technological advancements that have increased productivity, such as feed conversion ratios in livestock and yield per acre in crops, have allowed farmers and ranchers to produce more with less even as the U.S. population more than doubled, going from 159 million in 1950 to 340 million in 2023, and the global population more than tripled (2.5 billion to 8 billion) during the same period.

Farm Operations

Between 2017 and 2022 all states but five (Alaska, Delaware, Iowa, Maryland, New Jersey and Rhode Island) lost farms. Texas had the largest numerical loss – nearly 18,000 farm operations – followed by Oklahoma (-8,153) and Missouri (-7,433). Iowa gained the most farm operations (+807) followed distantly by Alaska (+183). In terms of percentage loss of farm operations, New Mexico experienced the largest decline (-16.2%) followed by Arizona (-12.5%) and Wyoming (-11.7%). Alaska’s 183-farm gain was the largest percent increase at 18.5%. Though the presence of regional trends in farm operation losses appears limited, drought conditions that battered much of the West in 2021 and 2022 may be responsible, in part, for higher farm loss percentages in those states. Across states that gained farms, most were within the category of earning over $1 million in sales except in Alaska where the biggest gains were in farms earning between $5,000 and $50,000.

Area Operated

The 2022 census also indicates a decline of just over 20 million acres (2.2% of total) in acreage operated. Colorado led in terms of numerical decline, with 1.6 million fewer acres being farmed in 2022 compared to 2017, followed by Texas (-1.56 million), and Oklahoma (-1.26 million). Only three states, Alabama, Alaska and Rhode Island, had increases in operated area. By percent decline, the map of operated acreage looks quite different. Hawaii leads with a loss of 7.2% of operated area followed by Virginia and Maine both experiencing a loss of 6.3% and Washington experiencing a loss of 5.6% between 2017 and 2022. Counties in the West had the largest swings in acreage operated, likely linked to the sheer size of counties with a significant proportion of open and undeveloped land.

Even minor declines in farmed area can have a significant impact on the rural identity of states with smaller acreage and higher rates of commercial and residential development. The more land shifted out of agriculture production, the harder it is to return those acres to farming. Diminished production capacity within specific states and regions heightens dependence on purchases from other states or countries. For instance, Hawaii faces a unique situation with only enough production and food storage capacity to sustain itself for seven days, exacerbated by a 7% loss in actively farmed land over the past five years. In New England, on a weight basis, farmers produce only about 21% as much food as the states consume (with a portion of that going to outside buyers). Researchers have estimated that in order to reach 30% self-food-sufficiency, the six New England states would have to maximize the use of 401,000 existing underutilized acres and clear an additional 588,000 acres of land. Instead, acres operated in New England dropped by 145,000 between 2017 and 2022. Local regulatory dynamics, land use pressures and costs, and variations in cultural interests contribute to the shifting landscape of farming, often pushing it farther away from population centers.

Economic Class

New Ag Census data also allows analyses of farm numbers and area operated by economic class and the market value of agricultural products sold. Economic sales classes are defined by summing the sales of agricultural products and government program payments; and the market value of agricultural products sold represents the gross market value before taxes and production expenses of all agricultural products sold or removed from an operation in 2022. Between 2017 and 2022 the number of farms in the $0 – $4,999 economic class dropped the most, by 120,970 (13%), followed by the $5,000 – $49,000 category, which lost 32,215 operations (5%). The category of farms in an economic class over a million grew by 28,566 operations (36%). The number of farms in lower economic classes shrunk at a faster rate than those in higher economic classes. That said, most ag production is generated by farms in higher economic classes. In 2017, 69% of the value of agricultural products sold was products by farms in the million-dollar-plus economic class. In 2022 this increased to 79% (Figure 8).

Farmers and ranchers currently face the highest production expenses on record, in addition to increasingly complex local, state and federal regulations and growing competition from lower-cost foreign markets. These dynamics shrink margins for producers and often more significantly impact farms in lower economic classes. Farms that are able often expand in size to capitalize on economies of scale, a concept rooted in the efficiency often gained as production increases. Larger farms can benefit from reduced per-unit costs due to bulk input purchasing, streamlined operations and enhanced bargaining power with suppliers. Mechanization and modern technology, which often come with substantial upfront costs, are more economically justifiable for larger operations, further boosting productivity. Unsurprisingly, the latest census data underscores that farms making such investments tend to fare better. Notably, farms in the $0 -$4,999 and $5,000 -$49,999 economic classes, constituting over 70% of total farms, often rely on alternative income sources. Those in the $0 – $4,999 economic class, especially, are more likely to be operations participating in agriculture for leisure or personal interest as opposed to income reliance. Declines in operations in these categories may be linked to the cost associated with supporting a side business that may no longer be sustainable but has limited impacts on total domestic food production.

Farm Typology

USDA also reports the number of farms and acres operated by farm type. This section of the report captures the different ownership structures of farming operations and includes: family-held corporations, family and individual filings, partnerships, corporations (excluding family held) and “other” which includes institutional, research, reservations and other owner entities. Family and individual filings, partnerships and family-held corporations represented 97% (1.884 million) of all farms in 2022 (down from 97.2% in 2017). Corporations other than family held made up 1% (18,960) of all farms and the “other” category made up the remaining 2.2% (37,480) farms.

Analyzing in terms of acreage managed by these operation types provides a better understanding of the proportion of agricultural production in the category. In 2022, family and individual filings, partnerships and family-held corporations represented 91% (801 million) of all acres operated in the U.S. Family and individual filings represented 58% of operated acreage alone (down slightly from 60% in 2017). Non-family-held corporations represented 2% (16.6 million) of acreage operated, up from 1.4% in 2017. “Other” entities operated 7.1% (62.4 million) of acres in 2022, much of which was concentrated in Western states with substantial land in American Indian reservations. The overwhelming majority of farmland in the U.S. continues to be operated by family-based ownership structures. By state, Hawaii had the highest percentage of acres operated by non-family-held corporations (28.5%), followed by Rhode Island (17.3%) and Florida (7%). In Alaska and New Hampshire no farm acreage was managed by non-family-held corporations.

Conclusion

The 2022 Census of Agriculture provides an in-depth look at the U.S. farm landscape over the past five years. With a loss of 141,733 farm operations, representing a 7% decline, and reduction of 20.1 million acres under cultivation, equivalent to the size of Maine, the agriculture sector has faced significant shifts. Though the data shows an ongoing consolidation of farms into fewer, larger operations, it also highlights the adaptability of farmers and ranchers. Despite fewer farms and reduced acreage, the value of agricultural production has increased by 40% (17% in inflation-adjusted dollars), reaching $543 billion in 2022. This increase in productivity underscores the impact of technological advancements and efficiency gains, allowing farmers to produce more with fewer resources. The magnitude of changes is not uniform across states, with the Southwest experiencing a much higher percentage loss in farms than states east of the Mississippi. The challenges faced by farms of all sizes has raised calls for a robust and comprehensive farm bill that could provide support to the operations most at risk and to those providing the lion’s share of the American food supply, helping both to navigate economic uncertainties and regulatory complexities, to undertake innovative and sustainable practices, and to promote the long-term viability of a diverse agricultural landscape across the nation. The Census of Agriculture paints the picture of what we have lost, and of what more could be lost without firm support.

Tyler Durden
Mon, 03/11/2024 – 09:50

Infowar: Biden Begins Next PR Blitzkrieg To Sway Minds Of Americans

Infowar: Biden Begins Next PR Blitzkrieg To Sway Minds Of Americans

Two weeks ago, we described how, after two or so months since House Democrats abandoned the Biden administration’s propaganda campaign to sell the American people on disastrous “Bidenomics,” the White House would pivot to a new messaging strategy of “shrinkflation.” 

The latest Google search of “shrinkflation” news stories shows what appears to be a flood of them across corporate media outlets. 

It appears Biden’s PR team hired the Cookie Monster from Sesame Street… How much did that cost?

According to Bloomberg data, the story count of news stories featuring “shrinkflation” surged this week to 1,365, up from 332 the week before. The first spike in shrinkflation headlines was a trial balloon by the White House around the Super Bowl. 

Democrats and the White House have scrambled for a new messaging strategy after the Bidenomics PR campaign ended in disaster, failing to lift the president’s polling data. 

On Thursday night, Biden attacked companies at the State of the Union address. 

Biden’s messaging strategies have failed so far because voters don’t trust the elderly president, who has ruined the financial health of working poor households with rampant inflation. 

The Biden administration has given up on blaming Putin for inflation. 

Perhaps out-of-control government spending, $1 trillion every three months, is driving inflation.

But don’t tell Biden’s 70-person social media team that…

Tyler Durden
Mon, 03/11/2024 – 07:45

50 People Injured After Boeing 787 Hit With Mid-Flight “Technical Event”

50 People Injured After Boeing 787 Hit With Mid-Flight “Technical Event”

Following a series of incidents involving Boeing aircraft in the US last week, a South American LATAM Airlines 787-9 Dreamliner en route from Sydney, Australia, to Auckland, New Zealand, encountered a “technical event” that led to significant turbulence, which injured at least 50 passengers. 

LATAM told AP News that Flight LA800, involving a 787-9 Dreamliner, experienced a “technical event during the flight which caused a strong movement” but did not elaborate further on the incident. The local newspaper, the New Zealand Herald, explained that the plane suddenly lost altitude. 

After the 787-9 Dreamliner landed, local ambulance services in Auckland treated 50 people for mild injuries, and 13 were taken to local area hospitals. 

LATAM said in a statement to the New Zealand Herald: “As a result of the incident, some passengers and cabin crew were affected. They received immediate assistance and were evaluated or treated by medical staff at the airport as needed.”

The statement continued: “LATAM regrets the inconvenience and injury this situation may have caused its passengers and reiterates its commitment to safety as a priority within the framework of its operational standards.”

Tyler Durden
Mon, 03/11/2024 – 06:55

Gold & Bitcoin At Record Highs Are “Huge Dollar No-Confidence Vote” – Rubino Warns US Financial Death Spiral Is “Inevitable & Imminent”

Gold & Bitcoin At Record Highs Are “Huge Dollar No-Confidence Vote” – Rubino Warns US Financial Death Spiral Is “Inevitable & Imminent”

Via Greg Hunter’s USAWatchdog.com.

Analyst and financial writer John Rubino warned nearly four months ago of a “U.S. Financial Death Spiral.”  

This past week, Bank of America caught up to Rubino and issued a warning about a “US dollar death spiral” because the federal government was going deeper in the red by creating “$1 trillion in new debt every 100 days.”  

Maybe this is why gold and Bitcoin have been hitting new all-time highs day after day.  Rubino says, “When a building was worth $200 million and someone sells it for $48 million, that means there is a loss that someone has to take.  Those losses are mostly on the books of regional and local banks.  So, they are in big trouble financially…

“You will get these massive bank runs that the government will have to step in and bail out.  This is one of many things that will happen in the not-so-distant future.  This will impact government finances in a scary way that will send people’s attention to the currency.  In other words, if we have another $3 trillion bailout on top of everything else that’s going on . . .what is that going to do to the dollar?

…Currencies are being inflated away with all these bailouts, deficits, wars and all these things that are going on that are bad for the currency.  So, people start selling government bonds, which push up interest rates and blows up even more bad real estate and paper . . . until you get a debt spiral, a real live financial death spiral than cannot be fixed…

I was talking to a real estate guy the other day, and he said this is not just inevitable, it is imminent.  It is happening now.  It is happening quickly, and it is going to hit the headlines…

In this case, what is inevitable in commercial real estate is also looking imminent.”

Rubino goes on to say, The numbers are not lost on the guys running the big investment banks and the big media outlets.  They are sitting around, and they are thinking we have to say something about this because this is obviously a very big financial story.  So, we have to report on it.  Finally, the numbers have gotten big enough with the deficits and government interest costs…

“…that this is a story that cannot be ignored anymore.  It’s got to be pretty far along before they reach that point because they really don’t want to report on this.  To report on this is seen as a betrayal of the establishment, and they are part of the establishment.  They are playing on that team.  The debt numbers are finally big enough that they can’t be ignored anymore, and that implies that we are getting near the end of the road.”

Gold and Bitcoin both hit all-time new highs this past week.  What does it mean?  Rubino explains,

“This means the market is speaking, and it’s concluding these currencies have a problem.  Capital is flowing into the alternatives.  It’s flowing into the old kind of money that has held up for thousands of years like gold or the possible new kind of money like Bitcoin that has come on relatively recently (when compared to gold)

In either case, it is a vote against the dollar.  When gold and Bitcoin are both spiking, it is a big vote of no confidence in the dollar.

In closing, Rubino says, “There is no way to know how this plays out in the next six months, but this should terrify the central banks.”

”  By the way, the big central banks are behaving as if they are terrified because they are aggressively buying gold.  They have bought about 1,000 tons of gold in each of the last two years.  1,000 tons is a fourth of the gold that comes out of all the gold mines in a given year.  So, that is a major purchase, and they take the gold off the market.  They don’t turn around and sell it.  They put it away as a reserve asset.  The gold is effectively disappearing.  This makes the market even tighter, and this is also part of the reason why gold is going up.”

There is much more in the 42-minute interview.

Join Greg Hunter as he goes One-on-One with financial writer John Rubino and his new enterprise called Rubino.Substack.com for 3.9.24.

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John Rubino is a prolific financial writer, and you can see some of his work for free at Rubino.Substack.com.  There is even more cutting-edge original information and analysis if you subscribe.

Tyler Durden
Mon, 03/11/2024 – 06:30

China’s EV Market Starts 2024 With BEV Sales Slowing And Even More Price Cuts

China’s EV Market Starts 2024 With BEV Sales Slowing And Even More Price Cuts

Just when you thought the EV market couldn’t get more saturated or competitive in China, sales have once again slowed and the country’s market leader, BYD, is once again implementing price cuts.

Sales of BEVs were up 18.2% in January-February compared to 20.8% for 2023, according to China Passenger Car Association reported by Reuters.

When added to hybrids and new energy vehicles, sales were up 37.5% in the period, compared to 36.2% for all of 2023, proving that the EV market continues to gravitate toward the practicality and affordability of hybrids versus all battery electric vehicles. 

Reuters noted that overall passenger vehicles were up 16.3% for the year. 

The report said that in the initial months of the year, EVs comprised 33.5% of total car sales, up from 28.3% in the same period last year, outpacing sales of gasoline cars which increased by 7.8%.

According to Cui Dongshu of the China Passenger Car Association, some EVs are competitively priced with gasoline vehicles, impacting their sales.

Leading the price reductions, BYD decreased prices across many models by an average of 17%, affecting 93% of its sales in China for 2023. This included a nearly 12% cut for its top-selling Yuan Plus and a 5% cut for the Seagull, its most affordable EV.

Several automakers have joined this price competition, offering discounts between 9% to 17%. Despite these cuts, BYD’s market share dropped to 30.7% in February, the lowest since June 2022, even though it remains the largest EV seller globally, surpassing Tesla with most sales in China.

BYD exported 19% of its vehicles in February, marking its highest export ratio, contributing to China’s 18% increase in car exports, with EVs making up 26.4% of this total.

Exports are vital for manufacturers facing weak domestic demand, with significant sales in markets like Australia, where Chinese EVs benefit from subsidies and lack trade barriers. However, this export success has led to tensions, with Europe and the U.S. investigating Chinese EV subsidies and potential security risks.

Tyler Durden
Mon, 03/11/2024 – 04:15

What The Western Press Didn’t Say About The Leaked Luftwaffe Conversation

What The Western Press Didn’t Say About The Leaked Luftwaffe Conversation

Authored by Eduardo Vasco,

What if a conversation between Russian officials discussing the explosion of a bridge in Germany had been revealed? Would Western press coverage also treat the leak as something more serious than threats of military attack?

On March 1, the editor-in-chief of the Rossiya Segodnya group, journalist Margarita Simonyan, revealed, on her Telegram channel, a 38-minute audio in which officers from the German Air Force (Luftwaffe) discussed the possibility of sending missiles long-range Taurus to Ukraine and whether they would be able to reach the Crimean bridge in the Kerch Strait, which connects the peninsula to the mainland and is Russian territory.

The Russian press, naturally, made much of the revelation. This forced the mainstream Western media – especially German ones – to report the leak. But whoever thought that a miracle would happen, that is, that the Western press would finally raise the issue of NATO’s military threats against Russia… well, those people are simply very naive.

The Western mass media, as always, tried to manipulate the news and hide the main issue.

The New York Times, The Washington Post, BBC, The Guardian, Die Welt and Der Spiegel published 39 articles on the topic on their respective websites between the time the news was revealed and the evening of March 6th (when I write these lines).

The two North American newspapers did not want to highlight the matter. The Post published two reports and the Times only one. The three expressed concern about the fragility of German intelligence security systems in the face of Russian espionage.

The Europeans, as has been the case for some time, carried much more propaganda against Russia. The BBC published four articles, all referring to the failure to protect Luftwaffe communications. The Guardian published five articles. The majority warns of the Germans’ failure and treats the Russians as great, threatening villains. However, it is necessary to make an honorable mention of Simon Jenkins’ column, the only one who was allowed to say that the leaked conversations demonstrate that NATO is threatening Russia with an escalation in the conflict.

As we all know, this drop of water in the middle of the ocean has no chance of counterbalancing the flood of war propaganda and fake news from the British press against Russia. Newspaper owners only allow freedom of expression when it is harmless – and try to isolate minimally independent opinions.

Now let’s talk about German newspaper coverage. Die Welt published 18 pieces about the leak scandal, and treated it as such. Of course, the main reason for the scandal was – for German war propagandists – the interception and dissemination of the conversation, not its content.

The entire repercussion of Die Welt revolves around failures in the security system of the German armed forces and Russian espionage. The possibility of Olaf Scholz sending the Taurus to Zelensky is briefly discussed and it is even stated that Germany is putting its Western allies in danger by allowing the interception of conversations that may mention confidential and compromising information – such as the participation of British soldiers in Ukraine, as mentioned in the conversation in question.

A single Die Welt report presents a “dissident” opinion, which is not “Russian propaganda”: the brief speech of a member of the AfD – who, however, is branded a Russian agent by the German state and its agents, such as the press.

Article signed by Pavel Lokshin has the following title: “Kremlin is using Taurus leaks to threaten war against Germany”. Of course, it was the Russians who considered blowing up a bridge in German territory, right?

In turn, Der Spiegel, in its nine articles on the case, reproduces the same speech as Die Welt about the failures in German security and the danger of Russian espionage. It also disqualifies the Kremlin’s claims that the conversation is clear proof of NATO’s direct involvement in the war in Ukraine and how much this threatens Russian national security.

Christina Hebel’s analysis is the only piece in these two German outlets that takes the accusations of the Russian government and German involvement in the war more seriously, but it would be an exaggeration to say that this publication would be in the sphere of journalism.

In short, the coverage of these newspapers – and the coverage of other mass media outlets in the West is no different – is absolutely biased and manipulated. In fact, as always happens, they reverse roles: Germany, which threatened to blow up a bridge in Russia, is the victim, while Russia is the villain!

If at least one of these newspapers really were a journalistic tool, and not a propaganda tool, it should publish an article with a title like “German officers considered blowing up bridge in Russia” or “Audios reveal discussion of attack on Russia with German weapons”.

After all, which is more serious: the leak of the audio by Russian intelligence or the discussion among senior German officials about a military attack on Russia?

No honest person would choose the first option.

But we are not dealing with honest people when we talk about “journalism” in Europe and the United States.

I can’t help but wonder: what if it were the other way around? What if a conversation between Russian officials discussing the explosion of a bridge in Germany had been revealed? Would Western press coverage also treat the leak as something more serious than threats of military attack?

Of course not! If it were Russia considering attacking Germany, there would not be 39 articles in these vehicles, but rather 3,900. Russia would be portrayed as a threat to human civilization (more so than it is portrayed today), chaos would be wreaked in German and Western society, and the drums of war against Russia would be beaten at the top of their lungs. Meetings would be urgently called at the UN Security Council, unilateral sanctions would increase absurdly, all the lackey governments of the USA and the European Union would speak out publicly condemning Vladimir Putin’s madness.

They are real hypocrites. Against Russia, anything goes.

And, although the majority of these media outlets are private, they all act as government bodies, under the strict control of their respective States, as true spokespeople for those in power. But Russia is the one who controls the press, Russia is the one spreading propaganda and Russia is the one disinforming, right?

The leaked audio proves that the war in Ukraine is not a war between Russia and Ukraine, but rather a war between Russia and NATO. The Western press strengthens this claim by propagandizing war against Russia and encouraging attacks against Russia.

The press, according to Western discourse, would be a protector of the public interest against the discretion of those in power. That’s idle talk. The press, in fact, even private companies, are tools of these same rulers to control and oppress the governed.

A growing number of Germans oppose the shipment of weapons to Ukraine and Germany’s participation in a war against Russia, but they are systematically deceived and betrayed by their government and the mass media.

Tyler Durden
Mon, 03/11/2024 – 03:30