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Bear Markets: How Deep Is Your Loss?

Bear Markets: How Deep Is Your Loss?

According to one popular definition, the S&P 500 entered a bull market on June 8, 2023. That means the index has risen 20 percent from its most recent low, which it hit on October 12 of last year.

That day also marks the end of the previous bear market, which began on January 3, 2022 and lasted nine months, during which the index fell 25.4 percent.

As Statista’s Felix Richter notes, that’s relatively harmless compared to other recent bear markets, as the chart below shows, which are often accompanied by drops of 30 percent or more and have lasted 13 months on average since 1973.

Infographic: Bear Markets: How Deep Is Your Loss? | Statista

You will find more infographics at Statista

Perhaps more important to the average investor is the question of how long it usually takes the market to recover from a bear market, i.e. how long it takes for it to return to its previous high.

In that case, a little more patience is required, because as of market close on June 15, the S&P 500 was still 7.7 percent off its January 2022 peak. That explains why some commentators refuse to call it a bull market just yet.

Moreover, a bull market requires a broad upward trend according to some definitions and the latest rally has been fueled almost entirely by a few (tech) heavyweights.

Tyler Durden
Sun, 06/18/2023 – 19:00

Planned Parenthood Execs Among Highest Paid In Nonprofit Sector: Report

Planned Parenthood Execs Among Highest Paid In Nonprofit Sector: Report

Authored by Katabella Roberts via The Epoch Times (emphasis ours),

Executives working for Planned Parenthood are among the highest-paid in the United States in the not-for-profit sector, according to a new report.

A Planned Parenthood logo on a clinic in a file photo. (Michael B. Thomas/Getty Images)

The American Life League’s STOPP International, a Catholic grassroots pro-life organization, published the findings in its report (pdf) titled “The STOPP International 2023 Report on Planned Parenthood CEO Compensation.”

Its research was conducted in March 2023 and based on the latest numbers available through public information, including Planned Parenthood websites, according to the organization.

STOPP International found that the average salary for a CEO at Planned Parenthood rose from $237,999 in 2015 to $317,564 in 2020, marking a 33.4 percent increase over five years, and placing them in the 98th percentile of U.S. wage earners.

The lowest compensation for a Planned Parenthood CEO was $124,045, based on the latest data from 2019 to 2021, while the highest was $616,926.

STOPP International found that all 53 CEOs made over $100,000 a year, while 39 made over $200,000 a year, 27 took home over $300,000 a year, and 13 made over $400,000 a year.

Six of the CEOs took home over $500,000 a year and one made over $600,000 a year, the report found.

‘Exorbitant Salaries’

Overall, the total compensation paid to all Planned Parenthood affiliate CEOs increased from $13.3 million in 2015 to $16.8 million in 2020, marking a 26.3 percent increase, according to the report.

That is compared to the $55,628.60 average wage for U.S. workers in 2020, as stated by the U.S. Social Security Administration.

It also differs drastically from the average salary for nonprofit CEOs in the United States as of May 25, which was $184,809, according to Salary.com, although the salary range typically falls anywhere between $139,690 and $238,124.

The report also noted that of all 53 Planned Parenthood affiliate CEOs, only four were black and three were Hispanic.

The lowest-paid CEO was a black woman, the report said, adding that she was paid less than the CEOs of 16 Planned Parenthood affiliates that “produced less income than the one she presided over,” while the top-paid CEO was a white woman.

“Planned Parenthood continues, year after year, to dramatically increase the salaries of its affiliate corporation CEOs and its New York headquarters staff while continually crying poverty and seeking and receiving more and more taxpayer money,” the report said.

“The exorbitant salaries of most Planned Parenthood affiliate CEOs and headquarters executives, and the disparity in salaries by gender and race, are even more revealing once you see that Planned Parenthood—organized as a nonprofit that pays no taxes—reported a total profit (income in excess of expenditures) of $408 million over the past three reporting years,” it added.

Report Findings Criticized

Meanwhile, the nonprofit organization, which provides abortion services and sexual health care, reported an income of $5.2 billion over the past three years, including $1.9 billion in government health services grants and reimbursements, according to the report.

Katie Brown, who serves as director of communications for American Life League, told Fox News in a statement, “It’s disingenuous that in Planned Parenthood’s most recent annual report, they claim to be committed to breaking down ‘barriers of structural racism that block access to care,’ when they so obviously haven’t done so in their own organization.”

“If there’s one thing that this report makes clear, it is proof that at Planned Parenthood, the rich get richer while the poor get abortions,” Brown added.

According to its official website, first-trimester abortions at Planned Parenthood come at an “all-inclusive cost” of $600. At such appointments, patients can also receive three months of birth control pills or shots at no additional cost.

Read more here…

Tyler Durden
Sun, 06/18/2023 – 18:30

Migrant-Smuggling “Influencers” Use TikTok To Advertise

Migrant-Smuggling “Influencers” Use TikTok To Advertise

Migrant smugglers — known as “coyotes” — are advertising their illegal transportation services into the US through the southern border via the Chinese-owned social media platform TikTok, according to USA Today.

The outlet found dozens of suspected coyotes using popular TikTok hashtags such as “sueno americano” (“American dream”). One coyote, who advertises on TikTok, spoke with the media outlet about how he “facilitates travel for migrants across the border in exchange for money.” 

Another coyote influencer told The New York Post he charges around $10,500 to transport a Mexican national into the US. Prices vary on what country the migrant is from. 

The proliferation of social media advertising by coyotes is so rampant that the United Nations International Organization for Migration warned about this dangerous trend.  

“The TikTok platform is used to promote the ‘services’ offered by human traffickers through short videos. These videos showcase successful cases of irregular border crossings and captivating images aimed at capturing the attention of individuals seeking to migrate irregularly with the assistance of a third party.” 

In a statement to USA Today, the US Department of Homeland Security also warned that social media is “creating an environment ripe for the manipulation of information regarding migration policies at the border” and has increased visibility for migrants to use illegal crossing services. 

It’s estimated that smugglers, many of which are part of drug cartels, collectively make $13 billion per year. TikTok and YouTube responded to NewsNation about videos advertising illegal border crossing services and said they’re working to combat the issue. 

President Biden’s border disastrous open border policies have allowed human traffickers and cartels to capitalize on the chaos. 

Meanwhile, talks on Capitol Hill this year have been dominated by both Republicans and Democrats that TikTok is one of the gravest national security threats. 

Tyler Durden
Sun, 06/18/2023 – 18:00

The Beyoncé Effect

The Beyoncé Effect

By Seth Carpenter, Morgan Stanley global chief economist

Under the heading of “this time is different,” Swedish inflation made global headlines. Beyoncé’s global tour started in Stockholm last month, and hotel and restaurant prices drove a notable upside surprise to Swedish CPI (well, an upside surprise to markets, less of a surprise to our resident member of the Beyhive). Why talk about the pop star in a week dominated by central banks? Even if this inflation proves to be, dare I say it, transitory, it demonstrates how much residual pent-up Covid demand there can be, especially in services, and how it can show up where you least expect it.

Markets have been searching for the peak rate of the hiking cycles and anticipating a pivot to easing. A funny thing happened along the way. The conversation is now about skips and pauses. Investors are learning that central banks can restart hiking cycles after stopping.

The Reserve Bank of Australia and markets had prepared for a pause after the March hike. But at its May meeting, the RBA surprised markets by hiking another 25bp. A further hike at the June meeting underscored that pauses are only as good as the data flow. Speaking at the Morgan Stanley Australia Summit after the June policy meeting, the RBA governor pointed to a sudden change in financial conditions, resilient household spending, inflation expectations, and rising unit labor costs as driving further hikes.

In January, the Bank of Canada had said it would take a “conditional pause” from hiking to assess the economy. Both economic activity and inflation proved stronger than expected in January, and at its June meeting the BoC surprised markets by resuming its hiking cycle. The BoC had concluded that monetary policy “was not sufficiently restrictive.”

As the Fed met this week, the market was pricing in a “skip.” The Fed did not hike, but its “dot plot” pointed to two more hikes this year. Should a skip be the base case? Well, Chair Powell corrected himself for using the word “skip.” But the lesson from the RBA and the BoC is not that we should expect a resumption of hikes, but rather that we should not be surprised if hikes resume when data do not cooperate. The Beyoncé effect should keep us from getting too complacent.

Our US team forecasts notable further deceleration for both payrolls and inflation before the July meeting. If our forecast for CPI is realized, the Fed’s forecast for inflation will have to get revised down, and Chair Powell’s insistence that the “July meeting will be live” will likely be rendered moot. A resumption of hikes, therefore, is simply not our base case. But I will repeat a point I have made in the past. The Fed might be done now only to resume hikes much later. Recall that in 1996, after a very slight reversal of a similarly rapid hiking cycle, the Fed held policy constant for a year, only to have the next policy move be a hike.

The situation is somewhat different in the euro area. Inflation remains high, and the inflation forecasts at last week’s meeting supported President Lagarde’s indication of another hike. But we think the last inflation print marked a fairly decisive downward trend in core inflation. By the time the ECB stops hiking, we think that trend will be clear, in contrast to the Fed, where the current inflection point presents two-way risk.

Tyler Durden
Sun, 06/18/2023 – 17:30

Climate Authoritarianism: WEF Wants 75% Fewer Private Car Owners By 2050

Climate Authoritarianism: WEF Wants 75% Fewer Private Car Owners By 2050

The climate change boondoggle acts as a mechanism for all kinds of social, economic and political changes that could greatly diminish the freedom and financial survival of the average person

As the world witnessed with the covid pandemic, global institutions working with governments and corporations are happy to hype up false threats and inspire public hysteria if they think they can use that rising fear to whittle away our individual rights.  The hype over “greenhouse emissions” is no exception.    

The vast majority of climate and carbon policies appear to be aimed at the west, and this is one of the reasons why we know the claims behind them are fake.  China alone accounts for around 32% of all global carbon emissions, with the US accounting for only 14% and the EU accounting for around 8%.  Yet, think-tanks like the World Economic Forum and globalist havens like the UN are hyperfocused on the US and Europe while China does as it pleases. 

Why?  Perhaps because the Chinese population is already well under control and there is no need to use climate fear as a weapon to subdue them?  In any case, the greenhouse gas issue is superfluous because there is zero evidence of a causation relationship between carbon emissions and global warming.  Even the evidence of correlation is highly suspect.  And, if you ask any climate alarmist where there is proof of the “climate crisis” they always rant about, they will predictably point to normal weather events (or wildfires) which have been common since human records started.

We have been hearing a lot lately about efforts to diminish or ban natural gas stoves in the US, to throttle agricultural production in Europe and to restrict meat in the public diet, but the most pervasive carbon restrictions are planned for cars and private transportation.  The WEF has recently published a blueprint for reducing individual car ownership by 75% by the year 2050

The white paper, titled ‘Benchmarking the Transition to Sustainable Urban Mobility’ establishes various guidelines for shifting the majority of the human population over to mass transportation within compact “smart cities.”  The WEF also suggests that over 70% of all people will have to live in these smart cities by 2050 – Currently, 45% of the world lives in rural areas, requiring another 15% of the population to be forced into cities in the next couple decades.  Not only that, but 2nd and 3rd tier cities would have to be combined into single homogenized networks.  In other words, megacities.  

 

The WEF transportation agenda demands that out of over 2 billion car owners, 1.5 billion people will lose the option of personal transportation.  That would leave only 500 million people in the world with the “privilege” of owning a vehicle.  

Also keep in mind that the UN also wants net zero carbon emissions by 2050, which means no more gas powered vehicles in the next 25 years.

The WEF paper is awash in meaningless buzzwords covering “equity and inclusion” rhetoric as well as “sustainable development goals” and “stakeholder capitalism” terminology.  Reading between the lines is necessary to understand the implications.

To summarize, transportation reduction is an extension of something called Shared, Electric and Automated Mobility (SEAM) Governance Framework, as well as net zero urban planning initiatives.  By taking away people’s cars, this forces the populace into smaller and smaller areas where mass transportation is available. These extremely concentrated population regions will be digitally connected and monitored by AI, with unprecedented surveillance measures and the government ability to centralize and dictate public movements, public power usage, public access to food and even public behavior.

All of this is sold as a trade off for Utopian convenience and security, when in reality it means the end of freedom as we know it.  China has been acting as a beta test country for these measures, with the some of the largest smart city designs and surveillance grids in the world.

We know that the goal of deconstructing private transport is to herd people into increasingly more compact and oppressive cities, but how would a reduction of car ownership of this scale be accomplished?  

Through a series of carbon regulations and inflation in prices.  Carbon taxes will be used to make purchasing and maintaining a gas vehicle untenable, and inflation in prices of electric vehicles will mean only the wealthy class will be able to buy them.  In this way, the establishment can argue that they “never banned cars,” they just created the economic conditions that forced most of the population to abandon personal ownership.

Once we examine net zero projects as a whole entity instead of just the pieces and parts, it becomes clear that these plans have nothing to do with saving the environment and the planet and everything to do with centralization of power. 

Tyler Durden
Sun, 06/18/2023 – 16:00

Those Silly Dads On TV

Those Silly Dads On TV

Authored by Thomas Harrington via The Brownstone Institute,

Have you gotten the memo yet? If not, you must be pretty good at willful blindness as it has been pumped into our homes several times an hour by our mainstream media and its advertising apparatus over the last quarter century or so. 

While it has several stylistic variations, its central message is the following:

American fathers are amiable doofuses who mostly care about getting and sitting in front of big screen TVs while their much savvier wives scurry around for them, and provide almost everything of lasting value that the children might need.

Then there’s the other part. 

You know, the one that says that when they’re not being purilely useless watching football as they are, of course, venting their well-known and preternatural penchant for verbal and physical violence on the world around them.

Watching this non-stop line of messaging you’d almost believe there are some powerful people out there in media-land who fantasize quite actively about a world without men, or at the very least, a world in which 49 percent of the culture would come to feel tentative and a little stupid about exercising the roles they have played in all healthy societies since the beginning of time. 

And what might those be? 

Silly little things like modeling essential values like courage and forbearance, or of providing, through their carefully observed and loving knowledge of each of their children’s unique personalities, the accurate parameters for that unique and growing person’s spirited exploration of the world outside the home. 

Or counter-balancing the laudable maternal tendency to protect the child at all costs with an ethos of greater intrepidness that acknowledges the constant existence of fear and danger, but that posits them as problems to be managed rather than avoided. 

And last but not least, of being, by dint of their generally more physically imposing, and when necessary, aggressive nature the last line of defense against those outside the family who might openly threaten the moral or physical development of his children. 

My old colleagues in the academy love to talk about how horribly gender-unconscious some people can be, as in how, when speaking on a given issue a white male of a certain age is, of course, deeply unaware of just how deeply immersed he is in his psychic cage of misogyny and/or supremacism and how he must be re-educated to see the light of his ways. 

Could it be a healthy difference of opinion? Nope. In their telling it’s inevitably a case of moral waywardness that can only be remedied by a vigorous program of cultural re-education. 

Though I heartily reject the essentialism that is so often implicit in this approach, I would, as I have suggested earlier, be the last to deny that there are, and have long been, gendered approaches to viewing and analyzing key social issues and phenomena. 

Where I differ with the zealous re-educators currently holding power in so many of our social institutions is that I am a) not interested in forcibly changing anyone’s view of the world under the pain of social sanction and b) not prepared to cede to one particular social group the exclusive right to talk about how unconsciously internalized gendered thinking can, at times, lead to infelicitous or unbalanced behaviors. 

Which leads me to what would appear to be an exceptionally large elephant in the room when we talk about Covid: to what extent can we speak of the response to Covid deployed by our government and virtually all of our leading cultural institutions as a highly gendered one, wherein the traditional male-female dynamic on the matter of security versus risk suddenly became so heavily weighted to the stereotypically “female” side of things? 

It would at least seem to be a question worth asking. And yet, nowhere do I see it being asked.

And if in our investigations on this matter we were to be able to substantiate the existence of such a tilt (please note my use of the subjunctive mood), it seems valid to ask how this dramatic departure from the historical gender balance on such matters came about, and/or was engineered to come about. 

Coming up with an airtight explanation to such a query that necessarily involves numerous social dynamics would be next to impossible to do. 

That said, I think we would be remiss if, in our attempts to respond to the matter we were to obviate the enormous role that media in general, and advertising in particular have come to play in what Even-Zohar calls culture-planning; that is, the way powerful elites use their control of key social institutions to generate versions of social “reality” that make their often predatory aims seem normal, if not laudable. Or how they promote tropes that effectively cancel those values circulating among the citizenry that are most likely to generate resistance to their long-term aims. 

I may be wrong, but the last time I checked the BlackRock-level predator class was still an overwhelmingly male bastion. And if there is anything males learn early on, especially if they are ambitious and aggressive ones, is to size up the probable strength of their would-be competitors, and/or those most likely to raise spirited and difficult objections to their grand designs. 

I know that if I were one of them, I would, given the undoubtedly greater of ability, should things come to it, of men to physically resist my attempts to cement overall control of the population, do everything in my power through the culture-planning processes at my disposal to make people question the validity of traditional masculine contributions to society. 

This, while highlighting the importance of the more traditionally female approach of seeking higher levels of security through a series of quid pro quos with extant (and usually masculine) centers of power.

Think about that the next time you hear the absurd slander of “toxic masculinity” or see yet another amiable and ultimately useless male doofus in a family setting on your TV screen. 

Tyler Durden
Sun, 06/18/2023 – 15:30

Oxford Notes ‘Sharp Decline’ In Appetite For MSM News In Recent Years

Oxford Notes ‘Sharp Decline’ In Appetite For MSM News In Recent Years

According to Oxford University’s Reuters Institute, 47% of people are interested in the news, down from 63% in 2017. In the UK, the proportion is even lower.

What’s more 36% of people worldwide say they sometimes or often actively avoid the news.

Burnout?

In what may be a sign of information overload, the authors of the report said that there is evidence that audiences “continue to selectively avoid important stories such as the war in Ukraine and the cost-of-living crisis as they cut back on depressing news and look to protect their mental health,” according to the BBC.

Of course – thanks to the Trump years and the proliferation of alternative news outlets (ahem) perhaps the realization that most news outlets engage in highly propagandized narrative-shaping in order to control public sentiment on behalf of governments worldwide might also have something to do with it.

The Digital News Report 2023 also concluded that traditional TV and print news media are continuing to decline, while “online consumers are accessing news less frequently than in the past and are also becoming less interested”.

Four in 10 people (40%) say they trust most news most of the time, down two percentage points compared with last year.

In the UK, the BBC was the most trusted news brand, followed by Channel 4 and ITV.

The research also reported that more than half (56%) of those surveyed worry about identifying what news is real and fake online – up two percentage points. -BBC

According to the report, and this is disturbing, Facebook is still the most important social media platform for consuming news, though it’s also suffered a long-term decline, with the number of people accessing it for news content dropping from 42% to 28% over the past seven years.

Meanwhile, Instagram and TikTok have seen increases in use, with 14% of people using Instagram for news and 6% using TikTok.

When it comes to young users, however, then numbers are much higher – with one in five (20%) 18 to 24-year-olds getting their news from TikTok, up from 15% last year, the BBC report continues.

According to Reuters Institute director Rasmus Neilsen, “Younger generations increasingly eschew direct discovery for all but the most appealing brands.”

“They have little interest in many conventional news offers oriented towards older generations’ habits, interests, and values, and instead embrace the more personality-based, participatory, and personalised options offered by social media, often looking beyond legacy platforms to new entrants.”

Tyler Durden
Sun, 06/18/2023 – 15:00

Seymour Hersh: Partners In Doomsday

Seymour Hersh: Partners In Doomsday

Authored by Seymour Hersh via Substack

As Ukraine begins a counter-offensive and Biden’s hawks look on, new rhetoric out of Russia points to a revival of the nuclear threat

I was planning to write this week about the expanding war in Ukraine and the danger it poses for the Biden Administration. I had a lot to say. Deputy Secretary of State Wendy Sherman has resigned, and her last day in office is June 30. Her departure has triggered near panic inside the State Department about the person many there fear will be chosen to replace her: Victoria Nuland. Nuland’s hawkishness on Russia and antipathy for Vladimir Putin fits perfectly with the views of President Biden. Nuland is now the undersecretary for political affairs and has been described as “running amok,” in the words of a person with direct knowledge of the situation, among the various bureaus of the State Department while Secretary of State Antony Blinken is on the road. If Sherman has a view about her potential successor, and she must, she’s unlikely ever to share it.

Biden is believed by some in the American intelligence community to be convinced that his re-election prospects depend on a victory, or some kind of satisfactory settlement, in the Ukraine war. Blinken’s rejection of the prospect of a ceasefire in Ukraine, voiced in his June 2 speech in Finland that I wrote about last week, is of a piece with this thinking.

Putin should rightly be condemned for his decision to tumble Europe into its most violent and destructive war since the Balkan wars of the 1990s. But those at the top in the White House must answer for their willingness to let an obviously tense situation lead into war when, perhaps, an unambiguous guarantee that Ukraine would not be permitted to join NATO could have kept the peace.

Ukraine’s counter-offensive is going slowly in its early days, and so news of the war briefly disappeared from the front pages of the New York Times and the Washington Post. The newspapers’ fear of another Trump presidency seems to have diminished their appetite for objective reporting when it delivers bad news from the front. The bad news may keep coming if the Ukraine military’s limited air and missile power continues to be ineffective against Russia.

It is believed within the American intelligence community that Russia destroyed the vital Kakhovka dam on the Dnipro River. Putin’s motive is unclear. Was the sabotage aimed at flooding and slowing the Ukraine Army’s pathways to the war zone in the southeast? Were there hidden Ukrainian weapons and ammunition storage sites in the flooded area? (The Ukraine military command is constantly moving its stockpiles in an effort to keep Russian satellite surveillance and missile targeting at bay.) Or was Putin simply laying down a chip and letting the government of Volodymyr Zelensky understand that this is the beginning of the end? 

Meanwhile, there has been an escalation in rhetoric about the war and its possible consequences from within Russia. It can be observed in an essay published in Russian and English on June 13 by Sergei A. Karaganov, an academic in Moscow who is chairman of the Russian Council on Foreign and Defense Policy. Karaganov is known to be close to Putin; he is taken seriously by some journalists in the West, most notably by Serge Schmemann, a longtime Moscow correspondent for the New York Times and now a member of the Times editorial board. Like me, he spent his early years as a journalist for the Associated Press. 

One of Karaganov’s main points is that the ongoing war between Russia and Ukraine will not end even if Russia were to achieve a crushing victory. There will remain, he writes, “an even more embittered ultranationalist population pumped up with weapons—a bleeding wound threatening inevitable complications and a new war.”

The essay is suffused with despair. A Russian victory in Ukraine means a continued war with the West. “The worst situation,” he writes, “may occur if, at the cost of enormous losses, we liberate the whole of Ukraine and it remains in ruins with a population that mostly hates us. . . . The feud with the West will continue as it will support a low-grade guerrilla war.” A more attractive option would be to liberate the pro-Russian areas of Ukraine followed by demilitarization of Ukraine’s armed forces. But that would be possible, Karaganov writes, “only if and when we are able to break the West’s will to incite and support the Kiev junta, and to force it to retreat strategically.

“And this brings us to the most important but almost undiscussed issue. The underlying and even fundamental cause of the conflict in Ukraine and many other tensions in the world . . . is the accelerating failure of the modern ruling Western elites” to recognize and deal with the “globalization course of recent decades.” These changes, which Karaganov calls “unprecedented in history,” are key elements in the global balance of power that now favor “China and partly India acting as economic drivers, and Russia chosen by history to be its military strategic pillar.” The countries of the West, under leaders such as Biden and his aides, he writes, “are losing their five-century-long ability to siphon wealth around the world, imposing, primarily by brute force, political and economic orders and cultural dominance. So there will be no quick end to the unfolding Western defensive and aggressive confrontation.”

This shakeup of the world order, he writes, “has been brewing since the mid-1960s. . . . The defeat in Iraq and Afghanistan, and the beginning of the Western economic model crisis in 2008 were major milestones.” All of this points toward large-scale disaster: “Truce is possible, but peace is not. . . . This vector of the West’s movement unambiguously indicates a slide toward World War III. It is already beginning and may erupt into a full-blown firestorm by chance or due to the incompetence and irresponsibility of modern ruling circles in the West.”

In Karaganov’s view—I am in no way condoning or agreeing with it—the American-led war against Russia in Ukraine, with the support of NATO, has become more feasible, even ineluctable, because the fear of nuclear war is gone. What is happening today in Ukraine, he argues, would be “unthinkable” in the early years of the nuclear era. At that time, even “in a fit of desperate rage,” “the ruling circles of a group of countries” would never have “unleashed a full-scale war in the underbelly of a nuclear superpower.”

Karagonov’s argument only gets more scary from there. He concludes by arguing that Russia can continue fighting in Ukraine for two or three years by “sacrificing thousands and thousands of our best men and grinding down . . . hundreds of thousands of people who live in the territory that is now called Ukraine and who have fallen into a tragic historical trap. But this military operation cannot end with a decisive victory without forcing the West to retreat strategically, or even surrender, and compelling [America] to give up its attempt to reverse history and preserve global dominance. . . . Roughly speaking it must ‘buzz off’ so that Russia and the world could move forward unhindered.”

To convince America to “buzz off,” Karaganov writes, “We will have to make nuclear deterrence a convincing argument again by lowering the threshold for the use of nuclear weapons set unacceptably high, and by rapidly but prudently moving up the deterrence-escalation ladder.” Putin has already done so, he says, through his statements and the advance deployment of Russian nuclear weapons in Belarus. “We must not repeat the ‘Ukrainian scenario.’ For a quarter of a century, we did not listen to those who warned that NATO aggression would lead to war, and tried to delay and ‘negotiate.’ As a result, we’ve got a severe armed conflict. The price of indecision now will be higher by an order of magnitude.

“The enemy must know that we are ready to deliver a preemptive strike in retaliation for all of its current and past acts of aggression in order to prevent a slide into global thermonuclear war. . . . Morally, this is a terrible choice as we will use God’s weapon, thus dooming ourselves to grave spiritual losses. But if we do not do this, not only Russia can die, but most likely the entire human civilization will cease to exist.”

Karaganov’s notion of a thermonuclear weapon as “God’s weapon” reminded me of a strange but similar phrase Putin used at a political forum in Moscow in the fall of 2018. He said that Russia would only launch a nuclear strike if his military’s early warning system warned of an incoming warhead. “We would be victims of aggression and would get to heaven as martyrs” and those who launched the strike would “just die and not even have time to repent.”

Karaganov has come a long way in his thinking about nuclear warfare by comparison with his remarks in an interview with Schmemann last summer. He expressed concern about freedom of thought in the future and added: “But I am even more concerned about the growing probability of a global thermonuclear conflict ending the history of humanity. We are living through a prolonged Cuban missile crisis. And I do not see the people of the caliber of Kennedy and his entourage on the other side. I do not know if we have responsible interlocutors.”

What should we make of Karaganov’s warming of doom? Do his remarks in any way reflect policy at the top? Do he and Putin kick around the idea of when or where to drop the bomb? Or is it nothing more than an expression of Russia’s decades old inferiority complex when looking to the gleaming West, where it finds—as we see in the Biden Administration today—endless hostility toward Russia.

“This could be the clarion of a movement in Russia,” one longtime Kremlin watcher told me, “for a dangerous shift of policy or it could or the off-the-wall ramblings of a concerned but deeply Russian academic.” He added that any serious Nato political strategist should read and evaluate the essay. 

Is the future of the world really only in Russia’s hands—and not in ours?  

Happy Father’s Day.

This piece is from Seymour Hersh’s Substack, subscribe to it here.

Tyler Durden
Sun, 06/18/2023 – 14:30

At Least 20 Shot, 1 Fatally, In “Illegal Street Takeover” Near Chicago

At Least 20 Shot, 1 Fatally, In “Illegal Street Takeover” Near Chicago

All hell broke out early Sunday morning at what some on social media have said was an “illegal street takeover” in the suburbs of Chicago. Local media reported at least 20 people were shot.

Battalion Chief Joe Ostrander with the Tri-State Fire Protection District told ABC 7 Chicago the incident occurred at a strip mall in south suburban Willowbrook early Sunday morning. The location is about 20 miles southwest of Chicago. 

One witness said a large number of people gathered at the strip mall for a “Juneteenth celebration.” And it was around 1230 am local time when at least 20 had been shot, one fatally. 

“It was supposed to be like a Juneteenth celebration; we just started hearing shooting, so we dropped down until they stopped. They just kept going. After that, we literally scattered away,” witness Markeshia Avery said.

Another witness said:

“We were all just out, and, next thing you know shots just kept going off; everybody ran, and it was chaos.” 

Someone else said:

“We just heard gunshots; at first it was one, but then it was a whole bunch of gunshots. After then we started running like, ‘yo.’ I looked at my friend, and we took off, running like crazy.” 

While we don’t know if the event organizers had a permit or were authorized by the property owner, some on Twitter said it was “an illegal street takeover.” Scenes from earlier this morning. 

These dangerous street takeovers have been popping up across many Democrat-controlled metro areas (see: here) where progressive city leadership fails to enforce law and order. 

Tyler Durden
Sun, 06/18/2023 – 14:00

‘Double-Talking’ Vaccine Scientist Refuses To Debate RFK Jr. Despite $1.5 Million Charity Pot

‘Double-Talking’ Vaccine Scientist Refuses To Debate RFK Jr. Despite $1.5 Million Charity Pot

With Dr. Fauci having exited stage left, the MSM’s has anointed a new vax-peddling talking head – Dr. Peter Hotez.

Last week, podcast giant Joe Rogan had Hotez on his show, where he proceeded to badmouth anti-vax presidential candidate Robert Kennedy Jr. – before telling Rogan that he’d be ‘uncomfortable’ debating him.

Rogan also called him out for being a hypocrite;

In response, Rogan offered to donate $100,000 to charity if he would debate RFK Jr. – who basically called Hotez a little bitch:

For those who missed it, Matt Orfalea and Matt Taibbi spotlighted Hotez last week, calling him the “great double-talking vaccine scientist,” for generally being full of shit.

Watch:

As the Epoch Times notes;

Over the weekend, Hotez, a frequent guest on CNN and NBC during the COVID-19 pandemic, posted a Vice article that claimed Spotify has “stopped even sort of trying to stem Joe Rogan’s vaccine misinformation” after the episode with Kennedy, 2024 presidential candidate and prominent skeptic of some childhood vaccines. That article essentially served as a hit-piece targeting Rogan, accusing him of fostering “misinformation” by allowing Kennedy on his program.

“It’s really true,” he wrote, adding that the interview is “just awful. And from all the online attacks I’m receiving after this absurd podcast, it’s clear many actually believe this nonsense.” Hotez is a vaccine scientist and a professor of molecular virology at Baylor College, a chair with the Texas Children’s Hospital, and also wrote about his daughter, titled, “Vaccines Did Not Cause Rachel’s Autism: My Journey as a Vaccine Scientist, Pediatrician, and Autism Dad.”

Oh really?

Rogan upped the stakes – offering to donate $100,000 to charity if Hotez would debate RFK Jr.

Others joined in – with investor Bill Ackman adding $150,000 to Rogan’s wager.

Journalist Tim Pool added $100,000 to the pot, bringing the total up to $1.52 million.

Meanwhile, Hotez had a total meltdown on Twitter, basically telling Rogan ‘let’s take this offline.’

Triage…

The Atlantic’s Tom “Leave Joe Biden alone” Nichols, who once tried to get West Point cadets kicked out of college for playing the circle game, thinks a debate would be below Hotez’s station, tweeting “No medical professional should ever agree to do this. Never. It elevates the conspiracy guy, demeans the medical professional, and will only convince the kooks out there that RFK is right because a real doctor took the time to debate him.”

“Never debate a conspiracy theorist,” Nichols added, apparently unaware of the last half-decade of conspiracy theories coming true.

Rogan replies

That would be a great suggestion if you could assure that the industry you were representing wasn’t completely captured by heartless monsters who have a history of some of the biggest criminal fines in human history because their deception has cost hundreds of thousands of people their lives,” Rogan shot back. “It would be a great suggestion if the industry you were defending didn’t  occasionally look at human beings as an opportunity to generate insane wealth regardless of the tragic consequences.    But you can’t do that, so… maybe it would be a good idea to have a fucking debate.”

Why wouldn’t Hotez want to crush RFK Jr. with his towering intellect and ‘science’ on his side?

We think we know it’ll go, if it ever happens (guest starring Tom Nichols as Master):

Tyler Durden
Sun, 06/18/2023 – 13:00