Despite trillions of dollars slated for global data center buildouts, power grid upgrades, and other artificial intelligence infrastructure expansion through the end of the decade, there remains very limited investor discussion about the next-generation physical security architecture required to defend these increasingly critical and high-value infrastructure nodes, including data centers, power plants, and grid transmission chokepoints.

Protection of data centers from suicide drone swarm attacks is currently assessed as a lower risk at the moment, while the Trump administration, particularly following last year’s “Restoring American Airspace Sovereignty” executive order, is primarily focused on counter-UAS measures to secure stadiums and related venues against drone attacks ahead of the 2026 FIFA World Cup.

In recent weeks, U.S. military, federal agencies, and local authorities gathered for a two-day summit near U.S. Northern Command headquarters, bringing together federal agencies, 11 U.S. host committees, and FIFA’s security heads to prepare for matches across the United States, Mexico, and Canada.

“We’re never going to not worry about a dirty bomb,” Miami-Dade County Sheriff Rosanna Cordero-Stutz, who participated in the planning session, told Politico. “But we also recognize that there’s a lot of other things that we need to worry about as well.”

“You can’t just give counter-UAS mitigation equipment to law enforcement that hasn’t learned how to use it yet,” said White House FIFA World Cup Task Force Andrew Giuliani, who coordinated the federal government’s role in tournament preparations and addressed the drone threat at the summit.

Trump’s counter-UAS EO last June, combined with heightened drone-threat concerns ahead of FIFA World Cup events, underscores the urgent need for low-cost, rapidly deployable kinetic interceptor counter-UAS systems that could be repurposed to defend high-value infrastructure and critical assets beyond the soccer tournament.

Beyond the FIFA World Cup and back to the data center buildout story, Morgan Stanley’s Vishwanath Tirupattur forecasts that nearly $3 trillion of global data center spend will occur through 2028, comprising $1.6 trillion on hardware (chips/servers) and $1.3 trillion on building data center infrastructure, including real estate, build costs, and maintenance.

Wall Street analysts largely end their analysis at the financing and construction of next-generation data centers, with limited discussion regarding the modern security architecture required once these facilities are built and become instant high-value targets for non-state actors or foreign adversaries; traditional perimeter measures such as metal chainlink fencing and standard surveillance systems are rendered useless in the world of emerging AI threats, including coordinated autonomous drone or swarm-based attacks enabled by advances in AI and low-cost unmanned systems.

The deployment of low-cost kinetic counter-UAS intercept systems from the US could soon become a reality in Ukraine and be field-tested on the front lines, where tons of operational data would be gathered to help developers refine these systems ahead of future deployment to protect stadiums, data centers, and other high-value assets from drone threats across North America.

Cameron Rowe founded counter-UAS intercept startup Sentradel, which builds autonomous turrets to detect, track, and destroy FPV (first-person view) drones that can be easily modified with explosives. The low-cost interceptor uses a rifle that fires low-cost 5.56 bullets at incoming FPVs, versus current systems that use missiles and may cost tens of thousands per interception, where the economics of war aren’t there.

Meet Sentradel’s low-cost kinetic interceptor counter-UAS system:

Watch 

Company Update #robotics #drones @sts_3d @camrrowe pic.twitter.com/0JoVSeYkpI

— Sentradel (@sentradel) December 2, 2025

There’s growing interest from the Trump administration that these counter-UAS intercept systems will be guarding high-value assets, perhaps not stadiums immediately, but likely data centers in the future, especially as former Google CEO Eric Schmidt recently warned that attacks on data centers are only a matter of time. Readers can see the full story here.

Via American Greatness,

Sen. Eric Schmitt (R-MO) has introduced the Stop Citizenship Abuse and Misrepresentation (SCAM) Act that would strip citizenship from individuals who commit serious crimes within 10 years of their naturalization.

According to Schmitt, the legislation would expand the grounds for beginning the denaturalization process to include welfare fraud, aggravated felonies and joining a terrorist organization, including gangs and cartels.

Fox New reports that the SCAM Act would create a 10-year window, post-naturalization, which would lower the threshold for federal authorities to strike an individual’s citizenship and to begin deportation proceedings.

🚨 BREAKING: Sen. Eric Schmitt (R-MO) just filed legislation REVOKING the citizenship of legal migrants who commit fraud and serious felonies, including the Somalis in Minnesota

GET IT PASSED! 🔥

The SCAM Act applies to serious crimes after being naturalized: “It’s evidence… pic.twitter.com/IvTiCuhfml

— Eric Daugherty (@EricLDaugh) January 19, 2026

Schmitt alluded to the welfare fraud that has been uncovered in Minnesota as a “wake-up call” and stated, “American citizenship is a privilege, and anyone hoping to be a part of our great nation must demonstrate a sincere attachment to our Constitution, upstanding moral character, and a commitment to the happiness and good order of the United States.”

Prosecutors investigating the growing Minnesota fraud scandal have charged dozens of native-Somali residents in connection with the fraud and estimate that there are upwards of $9 billion in stolen funds.

Schmitt went on to say, “ People who commit felony fraud, serious felonies, or join terrorist organizations like drug cartels shortly after taking their citizenship oaths fail to uphold the basic standards of citizenship.”

The SCAM Act also anticipates court challenges to the legislation with a built-in mechanism to switch out the 10-year window to a 5-year window, if found to be unconstitutional.

Stephen Miller, White House deputy chief of staff for policy and President Trump’s Homeland Security advisor says the White House is backing Schmitt’s legislation, saying, “The Somali fraud scandal is one of the greatest financial scandals in American history. All Somali refugees, or any other immigrants, who have committed fraud against the United States must be immediately denaturalized and deported.”

Miller added, “We applaud Senator Schmitt for his leadership.”

The SCAM Act has been introduced in the U.S. Senate but has not yet received a hearing.

Authored by Jenna McCarthy via Jenna’s Side Rocks,

Dear ICE Protestors,

It’s been a rough few months out there. You’ve shown up. You’ve resisted. You’ve rallied. You’ve organized. You’ve made signs. So. Many. Signs. You’ve launched illegal fireworks, damaged property, blocked traffic, broken the law, bashed in windows, assaulted agents, and berated scores of strangers simply for doing their jobs. You must be exhausted. I see you. I feel you. I am in awe of your stamina.

So let’s pretend, for argument’s sake and to give you a desperately-needed break, you win.

Let’s pretend all the chanting, the honking, the whistling, the street-blocking, the papier-mâché puppets, the Sharpie signs, the interpretive screaming, and the celebrity Instagram threats finally break the will of the federal government and ICE collapses under the sheer weight of your moral outrage.

Congratulations. Please enjoy a festive evening of vegan hors d’oeuvres, pronoun-affirming drum circles, and self-congratulatory chanting. You’ve earned it.

Go on, party it up!

After you shake the ethically-sourced, biodegradable confetti out of your hair, I just have one question: Now what?

No, seriously. What’s your plan?

Because tragically, our towns are teeming with dangerous, law-breaking repeat offenders—many of them wanted for horrific, unspeakable crimes here and in other countries. Blaming ICE for trying to remove them would be like blaming the home inspector for finding asbestos in the dream house you just fell in love with.

These bad actors are here. You don’t have to like it, but you do have to accept it. (I know! Objective reality isn’t really your thing. But try.) So what do we do about them? Do we ask a bunch of fugitives to kindly turn themselves in to the nearest Department of Feelings & Hugs? Do we hand big red “PLEASE STOP, YOU’RE BEING NAUGHTY” paddles to community volunteers? Do we just leave the child rapists, domestic abusers, drug smugglers, home invaders, human traffickers, carjackers, murderers, and violent felons exactly where they are and hope they find God without a map or a moral compass?

Hahahaha, I mean, okay.

Because here’s the part you seem to have left out of the ICE-free utopia you imagine: federal immigration officers aren’t hunting down gardeners, grandpas, or the kid who overstayed her student visa because she adopted a Labradoodle. In one 24-hour period alone this week, ICE arrested five illegal immigrants charged with heinous crimes including rape by force, aggravated assault, and sodomy of a minor. You know, the sort of atrocities Netflix makes eight-part documentaries about.

And you’re… protesting that?

Let’s run your victory scenario one more time: You kick ICE to the curb. Strip the agency of every drop of federal funding. Fire every last evil, horrible, power-hungry agent. Finally! Nobody is arresting or removing violent offenders anywhere in the country. Phew! Except… now those violent offenders stay in your city. In your neighborhoods. Near your kids. Near your friends. Near you. What happens when one of them abducts a toddler from the preschool playground? Or robs you at knifepoint in the Trader Joe’s parking lot. Or breaks into your neighbor’s home and murders a mother of three. Who do you call? Katy Perry? The police? Oh, wait. You want to defund them, too.

You’re probably not a regular reader of my column, so you may not know that immigration enforcement isn’t even a Trump invention. Nope. It’s happened under every administration since presidents wore wigs. In fact, your boy Barack deported more illegals than any American leader in history.

(Go ahead. Go lie down for a spell. It’s not your fault CNN never told you that.)

Look, I get it. ICE has terrible branding. The name sounds like a villain straight out of a Marvel movie. Truly, someone at DHS should have workshopped it harder. If they had called it the Department of Removing Child Predators and Machete-Wielding Lunatics From Your Neighborhood, you’d all be crocheting them honorary sashes. But because the acronym sounds cold, or mean, or insufficiently infused with social-justice aromatherapy, thousands of you are sprinting around Minneapolis hurling rocks at officers who just removed a convicted child rapist from an elementary school’s zip code.

I realize that there have been two extremely high-profile deaths involving ICE recently. In fact, since Trump deployed the agency last year, there have been five lost lives—each of them tragic (and arguably avoidable). Shockingly—not—most states don’t record immigration status in arrest or conviction data. And mainstream media is historically allergic to reporting on violent migrant crime. Social media, however, is not.

There are so, so many more, but I suspect you get the gist.

“We are Renee Good,” you chant. Yes, yes you are. You swarm the streets, interfere with lawful operations, ignore police orders, and charge at armed federal agents, and then everyone around you is shocked—I’m talking downright flabbergasted—when you get hurt. Exactly what, respectfully, did you think was going to happen? There’s a reason the saying isn’t, “If you play with fire, you’ll come out refreshed and rejuvenated.”

“But illegal immigrants statistically commit fewer crimes than white Americans,” you insist. And rattlesnakes kill exponentially fewer people than cobras do… but I’m still calling animal control if I find one curled up on my pillow. (Also, and I know you hate hearing it, but we’re talking about people who are in violation of U.S. law before the story even begins here. Sorry, but that part matters.)

I can concede that our current immigration enforcement system is far from perfect; can you concede that something needs to be done? Can you muster an ounce of sympathy for the souls whose lives have been destroyed or taken at the hands of monsters who are here unlawfully? Or do they not matter to you because there’s no colorful I STAND WITH VICTIMS OF FOREIGN PREDATORS ring you can put around your Facebook photo?

If you really want that warm, fuzzy, ethically-superior glow, here’s a wild idea: channel your rage into something that’s remotely productive. By all means, push for greater accountability. Demand body-cams, clearer use-of-force rules, unbiased investigations, and better training. Drop off kombucha for the oversight committee. Knit them a throw. Truly, knock yourselves out. But “ABOLISH ICE” isn’t a reform; it’s a tantrum. If you want your activism to actually protect people instead of endangering them, try aiming at their flaws instead of their existence. It’ll give you the same dopamine hit with far fewer funerals.

I know. Smashing things and yelling obscenities is so much more satisfying. But until your side comes up with an alternative that magically removes ruthless foreign criminals from American cities without ICE having to do it, your entire movement amounts to: “We hate this necessary thing because Trump.”

And that’s not public policy. That’s group therapy with a banner budget.

I look forward to your thoughtful reply,
Jenna 💋

Iran’s military starting Thursday issued a warning to ships at sea that it planned to run a drill starting this weekend which is to include live firing in the Strait of Hormuz, potentially disrupting traffic through a waterway which sees 20% of all the world’s oil pass through it.

This prompted a US warning in response, given US forces are also in the region – but quite a bit further away. On Iran’s two-day live-fire naval exercise, US Central Command (CENTCOM) said it will not tolerate any unsafe behavior which threats US forces, and somewhat awkwardly called on IRGC forces to operate professionally.

“We will not tolerate unsafe IRGC (Islamic Revolutionary Guard Corps) actions including overflight of U.S. military vessels engaged in flight operations, low-altitude or armed overflight of U.S. military assets when intentions are unclear, highspeed boat approaches on a collision course with U.S. military vessels, or weapons trained at U.S. forces,” CENTCOM said in its statement Friday.

“US forces acknowledge Iran’s right to operate professionally in international airspace and waters,” it added, and noted that “any unsafe and unprofessional behavior near U.S. forces, regional partners or commercial vessels increases risks of collision, escalation, and destabilization.”

Meanwhile the US forces build-up continues in the region:

A U.S. Navy destroyer made a port visit to the southern Israeli city of Eilat on Friday. The USS Delbert D. Black is one of six U.S. destroyers now in the Middle East, along with an aircraft carrier and three other combat ships.

China and Russia have just sent a big, resounding message to Washington in dispatching their own naval assets which have been sailing near Iranian vessels over the last several days – though this appeared for a prior, pre-planned joint drill.

China has dispatched several advanced destroyers toward Iranian waters, as Iran, Russia, and China prepare to hold joint naval drills near the Strait of Hormuz on Sunday.

Follow: https://t.co/7Dg3b41hTx pic.twitter.com/VtAp4fF8V8

— PressTV Extra (@PresstvExtra) January 30, 2026

According to the details of this prior joint exercise:

Ahead of the exercises, Iran issued a Notice to Airmen (NOTAM), warning of live-fire military activity in the airspace surrounding the Strait of Hormuz.

According to the notice, military firing activity was conducted between January 27 and 29 within a five-nautical-mile radius. The airspace—from ground level up to 25,000 feet—was designated as restricted and hazardous throughout the duration of the maneuvers.

In parallel, the three countries just deepened trilateral ties:

In a dramatic geopolitical development… Iran, China and Russia formally signed a comprehensive strategic pact, marking one of the most consequential shifts in 21st-century international relations. While the full text of the agreement is being released in stages by the three governments, state media in Tehran, Beijing and Moscow have acknowledged the ceremony and described it as a cornerstone for a new multipolar order.

The pact comes against the backdrop of decades of growing cooperation between these three states. Iran and Russia earlier concluded a 20-year Comprehensive Strategic Partnership Treaty designed to deepen economic, political, and defense ties, and to blunt the impact of Western sanctions — a treaty that was signed in January 2025 and entered into force last year.  Meanwhile, Iran and China have been bound by a 25-year cooperation agreement first signed in 2021, aimed at expanding trade, infrastructure, and energy integration.

Still, none of this has deterred the ongoing Pentagon build-up in the Middle East with an eye on Iran. One thing the White House should be able to perceive, however, is that any military action against Tehran is going to clearly be much more complex, and harder, than some one-off mission in Venezuela.

The potential for massive blow-back and for things to go seriously awry is much greater in the case of the Islamic Republic.

Authored by Naveen Athrappully via The Epcoh Times,

The new work requirements to gain or continue eligibility for the federal Supplemental Nutrition Assistance Program (SNAP) will start being implemented in several U.S. states beginning Feb. 1.

The One Big Beautiful Bill Act, signed into law by President Donald Trump in July, instituted new work requirements for SNAP beneficiaries to continue receiving benefits, targeting able-bodied adults without dependents.

People ages 18 to 54 are required to meet these conditions to receive SNAP benefits for more than three months in a three-year period, according to the Food and Nutrition Service (FNS).

Able-bodied adults without dependents (ABAWD) must meet any of the following conditions—work at least 80 hours a month, participate in a work program for this duration, take part in a combination of work and work program hours for 80 hours a month at a minimum, or remain in a workfare for the required number of hours assigned each month, FNS said.

Millions of ABAWDs use SNAP benefits despite being able to work, compromising the true goal of the program, which is to provide financial support for vulnerable people who need help.

Some people are exempt from the work requirements, such as individuals who are unable to work due to mental or physical limitations, veterans, homeless people, and pregnant women, the agency said.

Individuals who meet the criteria but fail to fulfill work requirements will lose SNAP benefits after three months.

“To get SNAP again, you must meet the ABAWD work requirement for a 30-day period or become excused. Otherwise, you need to wait until the end of your three-year period, when you’ll get another three months under the time limit,” according to the agency.

The implementation dates of the SNAP work requirements vary from state to state.

In some states, people could lose benefits as soon as Feb. 1, if they can’t show they’re working. But many people have a month or more before their benefits are at risk.

Texas started its requirement in October, so people there could have exhausted their three months of benefits by Jan. 1 and already been removed from the rolls.

Several states started the three-month clock in November, opening the possibility of people losing benefits in the coming days. Among them are Alaska, Colorado, Georgia, and Hawaii.

The requirements take effect Sunday in other states, including Illinois and Ohio. In those places, people could lose benefits in May. Ohio says people will have to show proof of work starting in March.

Some states have exemptions because of relatively high unemployment rates, either statewide or in certain regions, that let them delay implementation, but most of those have ended or will soon. California’s waiver is scheduled to be in place until January 2027. For most of New York, the work requirement is to start in March.

Roughly 42 million Americans make use of the SNAP program and receive $177 per month on average, according to the Department of Agriculture.

Debate Over New Policy

The new work requirements for ABAWDs have faced criticism.

In an Oct. 21 statement, the advocacy group National Skills Coalition argued that the measure undermines workers.

Such requirements punish people for “systemic barriers outside their control,” it said. Losing out on SNAP benefits can make it harder for people to focus on their training or show up to work.

“Moreover, enforcing work requirements places a heavy administrative burden on states and workers. Human services agencies must notify recipients of the new requirements, verify work hours, track compliance, and process exemptions. In each of these activities there is room for error that can have devastating consequences for workers,” the National Skills Coalition said.

The group called on states to expand access to skill-building programs that connect SNAP beneficiaries with training and other supportive services, calling it a “better path forward” than enforcing punitive work rules.

In a May 15 statement published at the Centers for Medicare and Medicaid Services (CMS), Robert F. Kennedy Jr., Health and Human Services secretary; Dr. Mehmet Oz, administrator of the CMS; Brooke Rollins, secretary of Agriculture; and Scott Turner, secretary of Housing and Urban Development, said the need for work requirements is justified.

Over the past decade, millions of able-bodied adults have been added to the SNAP program. Some of them do not work at all or work inconsistently throughout the year, the officials wrote.

The higher share of welfare spending taken by able-bodied individuals of working age disrupts the true goal of programs like SNAP—to help people in need.

“For able-bodied adults, welfare should be a short-term hand-up, not a lifetime handout. But too many able-bodied adults on welfare are not working at all,” they wrote.

“Establishing universal work requirements for able-bodied adults across the welfare programs we manage will prioritize the vulnerable, empower able-bodied individuals, help rebuild thriving communities and protect the taxpayers.”

A jury on Friday found a psychologist and a surgeon liable for malpractice after they convinced a 16-year-old girl to lop off her breasts. This marks the first medical malpractice case involving a detransitioner to reach a verdict – and it has huge implications. 

Fox Varian, who identified as transgender at the time, was awarded $2 million in damages – which includes $1.6 million for past and future pain and suffering, and $400,000 for future medical expenses. Now 22, Varian identifies as a woman. 

The January 30 decision at Westchester County Courthouse in White Plains, New York, found both Dr. Kenneth Einhorn, a psychologist, and Dr. Simon Chin, a surgeon, liable for failing to meet standards of care before performing irreversible surgery on Fox Varian, as they had skipped over important steps while evaluating whether she should move forward with the surgery, and failed to adequately communicate with each other in a “departure from the standard of care.” 

BREAKING: 1st Detransitioner to Take a Medical-Malpractice Lawsuit to Trial Wins $2 Million Judgement

Fox Varian sued her Westchester, NY, area psychologist and plastic surgeon for the gender-transition mastectomy she got at 16.

I was the only reporter to attend the entire… pic.twitter.com/4e89PSgGDg

— Benjamin Ryan (@benryanwriter) January 31, 2026

In closing arguments, Varian’s attorney Adam Deutsch asked the jury for $8 million in damages, citing Varian’s reaction to seeing her post-surgical chest scars. 

“I immediately had a thought that this was wrong, and it couldn’t be true,” she said, adding that the surgery left her with ‘searing hot’ nerve pain that were ‘ripping sensations across my chest.’

“Shame. I felt shame,” she added. “It’s hard to face that you are disfigured for life.”

The case centered on a referral letter Einhorn sent Chin in October 2019, roughly two months before the procedure. Deutsch argued the letter contained inaccuracies and omissions that left the surgeon without a complete picture of Varian’s psychological state.

Even more tragic is the way that Varian felt pressured into her decision and the doctors never figured it out.

Elon Musk referred to the doctors as “modern day Mengeles.”

There will be thousands of court cases of children who were mutilated by evil doctors, modern day Mengeles.

The schools, psychologists/psychiatrists and state officials who facilitated this will pay dearly too. https://t.co/1FrB6M50Tj

— Elon Musk (@elonmusk) January 31, 2026

The Free Press reported last year, “gender doctors acknowledge they perform life-altering procedures on vulnerable youth with no supportive evidence—and they are proud of it.” One clinician even admitted, “We’re all just winging it, you know? And which is okay, you’re winging it too. But maybe we can just, like, wing it together.” 

The defense also claimed that Varian expressed no regret about the surgery until she filed her lawsuit in 2023. But Varian explained her earlier positive statements reflected cognitive dissonance as she tried to maintain a brave face despite inner turmoil.

Varian’s mother, Claire Deacon, testified she opposed the surgery but consented because she feared her daughter would commit suicide without it. This is a common occurrence with young people suffering from gender dysphoria. In 2024, the New York Times reported how parents of confused children are often emotionally blackmailed into consenting to these procedures when doctors tell them ‘Do you want a dead son or a live daughter?’

Parents are routinely warned that to pursue any path outside of agreeing with a child’s self-declared gender identity is to put a gender dysphoric youth at risk for suicide, which feels to many people like emotional blackmail. Proponents of the gender-affirming model have cited studies showing an association between that standard of care and a lower risk of suicide. But those studies were found to have methodological flaws or have been deemed not entirely conclusive.

As the Epoch Times continues, Varian wept and hugged her mother and attorney following the verdict, which concluded a three-week civil trial at the state Supreme Court in Westchester County.

“A jury of everyday Americans sent a clear message: justice will be served for vulnerable individuals who were misled into gender-transition procedures without appropriate safeguards,” said Josh Payne of the firm Campbell Miller Payne, who was not involved in the case but was in court observing Friday’s proceedings. His firm was founded three years ago to represent plaintiffs in cases similar to Varian’s.

The decision came after the young woman regretted the 2019 surgery and sued psychologist Dr. Kenneth Einhorn, surgeon Dr. Simon Chin, and their respective employers.

The six-member jury was not asked whether gender-related surgical procedures are appropriate for minors. The question was whether the therapist and doctor took the appropriate steps before the surgery was performed.

Varian’s attorney argued the healthcare professionals did not correctly diagnose and treat her for gender dysphoria—distress and anguish caused by a mismatch between one’s physical sex and their internal perception of their gender.

Chin and Einhorn’s attorneys argued that Varian did not express regret for the surgery until years later, when she filed the suit in 2023. They noted that she told Einhorn, Chin, and her mother that she was “happy” with the results, and continued to live as either male or non-binary for years after the procedure.

Neil Kornfeld, who represented Einhorn, read from an essay Varian wrote 10 months after the surgery to back up their claim.

“It’s such an immense relief to wake up and not feel at odds with my body,” she said at that time. On the witness stand, Varian said such comments came from “cognitive dissonance” as she tried to put on a brave face about her inner turmoil.

In October 2019, Einhorn wrote a referral letter to Chin supporting Varian’s decision to have the chest surgery; she had first brought up the idea to him in March that same year. Varian’s attorneys said that since the letter contained some omissions and inaccuracies, Chin didn’t have a clear picture of his patient’s psychological history.

Trial evidence showed that Einhorn didn’t have the full picture either.

Before the surgery, Varian had told staff at the Albany Pride Center that she felt she “felt pressure to decide” on a male identity or a female identity “by family, friends, and culture.” She also said she continued to question her gender identity, but was afraid she might “lose credibility” if she brought it up with her mother.

Einhorn said he might not have written the letter had he known; Chin also testified that had he known Varian was unsure of her gender identity, he would not have performed the surgery.

Deutsch said Einhorn should have reached out to Albany Pride Center for records of her time there; he also said Chin and Einhorn should have communicated with each other, at least once, by phone call.

He began the trial by suggesting that Einhorn “drove the train” and had been “putting ideas in Fox’s head” during attempts to change her gender.

But defense attorneys argued that Varian, not Einhorn, had spurred decisions like using “he/him” pronouns, cutting her hair short, and changing her name from Isabelle to Gabriel, then Rowan, then Fox. They said the decision to wear a chest binder, and later the breast removal, were also her idea.

Deutsch, in his closing statements, said that was the problem, describing Einhorn’s attitude as “Whatever the kid wants, the kid gets.”

Authored by Lance Roberts via RealInvestmentAdvice.com,

Mainstream expectations, those from Wall Street, economists, and corporate strategists, have congealed around a bullish economic outlook for 2026. Most forecasts project stronger economic growth, with contained inflation, and continued investment in technology and capital expenditure. As such, many institutional investors interpret this as a year of opportunity for markets and corporate earnings.That was a point we discussed at this year’s Investment Summit with the following slide.

But it isn’t just earnings that are expected to rise, but due to productivity increases (AI = Less Employment) corporate profit margins are expected swell to historic records.

However, whenever I see Wall Street becoming universally bullish, the contrarian investor in me is always reminded of Bob Farrell’s Rule #9:

“When all experts agree, something else will happen.”

As I noted in that linked article:

“Excesses are built by everyone on the same side of the trade. Ultimately, when the shift in sentiment occurs – the reversion is exacerbated by the stampede going in the opposite direction.”

Yet the broader risk landscape is significant as consensus optimism obscures important vulnerabilities. When investors anchor on expected outcomes and overlook low‑probability but high‑impact risks, those risks become amplified. History shows that markets rarely transition smoothly from one year to the next without shocks to inflation, monetary policy, geopolitics, or credit conditions. For example, on January 1st, no one expected President Trump to slap additional tariffs on Europe over the potential purchase of Greenland.

But it happened.

So with that, let’s review mainstream expectations for 2026, and detail the “low probability, high impact risks,” that could derail the complacent expectations of investors.

US Economic Growth: Resilience or Fragile Expansion?

Mainstream Expectation: Most economists expect the US economy to grow above trend in 2026. Goldman Sachs forecasts U.S. GDP expanding about 2.6% year‑over‑year in 2026 compared to consensus estimates of roughly 2.0%. Their team sees above‑consensus growth and a strong rebound from 2025.

Other analysts and institutions, including PwC and RSM US, forecast similar growth in the 2.1% – 2.5% range, driven by consumer spending, corporate investment, and broader economic resilience.

Risk to That View: Growth forecasts assume stability in consumer demand, labor markets, and capital spending. But several risks could undermine this:

• Labor market fragility: Employment growth has slowed sharply in late 2025, and with a declining working‑age population due to lower immigration, net job creation may stay weak. Early data shows average monthly employment growth collapsing to levels historically consistent with labor market stress.

• Tariff and trade uncertainty: The recent threat of higher tariffs on Europe, and continued trade tensions that emerged in 2025, introduce volatility in production and pricing in supply chains. Increased tariffs across major trading partners historically correlate with lower output.

• Global headwinds: The World Bank warns that while global growth remains resilient, fading dynamism and policy uncertainty could reduce demand for U.S. exports.

Our view is that the most critical risk on 2026 is further weakness in the labor market or trade disruptions worsen which could cause growth to fall short of expectations.

Inflation and Monetary Policy: Tame or Sticky?

Mainstream Expectation: Consensus forecasts generally expect inflation to moderate through 2026, with core measures heading toward the Federal Reserve’s 2% target. Goldman Sachs projects core inflation close to 2.1% by the end of 2026.

Some money managers expect the Fed to cut rates one or two times in 2026, assuming inflation continues its downward trend and consumer spending remains resilient.

Risk to That View: Given that inflation is a function of economic supply and demand, a “run it hot economy” could keep inflation “sticky” or slightly higher.

• Sticky core inflation: Some forecasts warn that core inflation may stay above target due to tariff pass‑through, wage pressures, or service inflation. Vanguard’s model suggests core inflation could remain above 2.5% if tariffs and labor tightness persist.

• Monetary policy divergence: J.P. Morgan’s economist predicts the Fed may actually hold rates steady or even raise them in 2027, due to sticky inflation and labor market strength despite market expectations for cuts.

• Fed independence risks: Intensified concerns over central bank autonomy could cause further disruptions and uncertainty over future monetary policy direction.

If inflation proves more persistent than expected or if policy credibility erodes, interest rates may stay elevated weighing on valuations and economic activity.

AI and Corporate Investment: Growth Catalyst or Market Excess?

Mainstream Expectation: Most forecasts see continued strong investment in artificial intelligence and related infrastructure as a driver of both corporate capex and productivity. Most analysts highlight AI’s role in lifting corporate spending and supporting economic expansion.

U.S. corporate bond issuance is also projected to surge, much of it to fund AI data centers, advanced computing infrastructure, and next‑generation platforms.

Risk to That View: The growth from AI investment is uneven and concentrated:

• Concentration of benefits: A relatively small group of mega‑cap firms capture most of the AI investment gains, which can create sector concentration risk in markets and overstate the breadth of economic benefit.

• Corporate debt buildup: Higher bond issuance tied to capex, especially for large tech projects, increases leverage risk, especially if growth slows or credit markets retrench.

• Market pricing risk: A strong investment narrative can inflate asset prices beyond fundamentals, meaning corrections may be abrupt if earnings disappoint.

AI spending is real, but it is not a universal engine for all sectors. Most critically, the overreliance on it for aggregate growth forecasts underestimates broader economic weak spots.

Consumer Spending: Supported or Overstated?

Mainstream Expectation: Analysts expect consumer resilience to remain a backbone of 2026 growth. Strong household balance sheets, robust savings for certain income groups, and wage gains support consumption forecasts. These assumptions pervade GDP models showing above‑trend expansion.

Risk to That View: Consumer dynamics can shift suddenly:

• Wealth inequality in consumption: Wealth effects are most pronounced among higher‑income households. Median consumers without significant asset holdings may reduce spending if jobs or real income weaken.
• Debt and credit stress: Higher interest rates increase borrowing costs for households which could depress discretionary spending.

Consumer spending may remain resilient on average, but broad‑based weakness could emerge quietly before appearing in headline data.

The Dollar and Foreign Exchange: Weakening or Volatile?

Mainstream Expectation: Many strategists anticipate a modest depreciation of the U.S. dollar in 2026. As such, a weaker dollar would boosts export competitiveness and corporate earnings abroad.

Risk to That View: Currency markets are driven by relative risk and capital flows, not just growth differentials:

• Growth risk: Stronger economic growth will attract foreign inflows into dollar-denominated assets for higher yields and relative safety.

• Safe‑haven demand: In times of geopolitical tension or financial stress, the dollar strengthens due to its liquidity and safety. Such would potentially hurt U.S. export competitiveness.

A dollar that strengthens through risk aversion or economic growth would undercut the export growth assumptions embedded in current forecasts.

Tax Policy and Fiscal Stimulus: The Reflation Narrative

Mainstream Expectation: New tax measures, including expanded investment credits and incentives, are expected to boost consumer incomes and corporate spending in 2026. Forecasts incorporate these fiscal tailwinds into growth and profitability models.

Risk to That View: Tax benefits often provide short‑lived effects:

• Timing and bias: Households may smooth additional tax savings into future consumption rather than immediately spend them. Corporations might repatriate savings or use them for share repurchases rather than investing.

• Dependence Risk: The outlook for increased capex, spending, and earnings are all dependent on economic growth strengthening into 2026. However, as discussed, there are many risks to that view.

Tax incentives are supportive, but they should be viewed as marginal boosts rather than transformational drivers of long‑term growth.

Portfolio Tactics for Investors in 2026

The purpose of this article is not to suggests that Wall Street analysts, and market participants, are wrong. The purpose is to suggest there are risks to investor portfolios when “everyone is bullish on everything all at once.”

Therefore, given the range of possible outcomes, investors should employ adaptive, risk‑aware strategies. Rather than assuming a base‑case forecast will materialize, use portfolio tactics to help navigate uncertainty:

• Diversification Beyond Tech and Growth: Hold a mix of sectors including value, energy, and financials to reduce concentration risk. Consider allocations to fixed income to offset volatility risks.

• Inflation and Rate Risk Hedging: Maintain allocations to short‑duration bonds to reduce sensitivity to potential rate volatility.

• Dollar and Currency Exposure Management: Hedge currency risk for international holdings. A stronger dollar could undermine international growth outlooks.

• Energy and Commodity Positions: Commodities are subject to economic growth. If growth slows, commodities become a higher risk asset.

• Quality and Balance Sheet Strength: Tilt toward companies with strong balance sheets and stable free cash flow to weather cyclical shocks. Favor dividends and cash returns in uncertain environments.

• Liquidity Reserves: Maintain higher levels of cash or cash equivalents to capitalize on market dislocations. Liquid reserves provide flexibility should growth disappoint.

• Tactical Hedging Strategies: Use options or inverse instruments selectively to protect portfolios against sharp downturns. Volatility may rise unpredictably; structured hedges can provide protection without full market timing.

• Monitoring Macro Signals Actively: Track inflation metrics, labor market data, and Fed communications closely. Be ready to adjust strategies in response to shifts in inflation, policy, or geopolitical developments.

The mainstream outlook for 2026 is cautiously optimistic, grounded in forecasts of steady growth, stable inflation, and continued technology‑led investment. Those expectations are reasonable as base cases. However, investors should not mistake forecasts for outcomes. Each major economic assumption carries material risks. Persistent inflation, monetary policy uncertainty, geopolitical shocks, and uneven growth dynamics could all lead to outcomes well outside consensus expectations.

Prudent investors will build portfolios that protect capital first, anticipate volatility, and adapt rapidly to changing economic realities. The probability distribution of 2026 outcomes is wide, and mistakes can be costly when “all the experts agree.”

The beef between Anduril founder Palmer Luckey and Silicon Valley angel investor Jason Calacanis goes back nearly a decade – when Calacanis joined a media circus slamming Luckey for a $10,000 donation to a pro-Trump group in 2016. The donation sparked widespread backlash among Silicon Valley’s liberal elite, and resulted in calls to boycott Luckey’s Oculus VR (which he founded and sold to Facebook in 2014 for $2 billion), along with his eventual ouster from Facebook.

In 2022, Luckey confronted Calacanis – co-host of the ‘All-In’ podcast, at the VC’s own event over what he characterized as “NPC thinking” (non-playable characters, aka idiots who follow their party’s ‘current thing’).

Last year, Luckey said, “Jason just lies to his followers whenever he feels embarrassed, always blocking replies from anyone who doesn’t give him money. For example, accusing my cofounder of photoshopping his fat mug – in reality, it is a screenshot from his CNBC interview!”

This is an un-edited screenshot from your CNBC interview, Jason.

Is this another example of your famous lying sprees, or are are you seriously this out of touch with the reality of your body? pic.twitter.com/acCGOEViv9

— Palmer Luckey (@PalmerLuckey) February 28, 2025

In August, 2022, two months after Luckey smoked him at the All-In event, Jason attempted to mend fences after Anduril started landing government contracts, writing “I’m grateful we have Palmer making our weapons now – we need hard-core dudes like him to keep the CCP in check” followed by flexing arm + in love emojis.

Luckey told him to “Go fuck yourself and all the other clout-chasing leeches and liars who pretend sucking my dick post-Ukraine absolves treating me like shit for years.”

Indeud… 

Epstein and Calacanis

While Calacanis was busy taking potshots at Luckey for supporting Trump, it turns out he had a longstanding relationship with Jeffrey Epstein – having first met in the 1990s while trying to fundraise for a dot-com magazine, Silicon Alley Reporter. The two met at Epstein’s New York townhouse for a discussion allegedly lasting around 30 minutes according to Calacanis. 

Epstein offered some advice; ‘think bigger.’ 

“He gave me some advice at his townhouse once when I was raising money for the magazine,” Calacanis told fa-mag. “He thought I should think bigger.” 

Following Epstein’s July 2019 arrest on sex-trafficking charges, Calacanis reiterated that his contact was confined to the 1990s fundraising meeting, and denied ever flying on Epstein’s plane, visiting pedo island (Little St. James), or attending parties. 

Calacanis notably appears in Epstein’s ‘black book’ – despite insisting the two had limited contact.

Hey Pal…

Turns out, not quite… A Friday release of 3 million Epstein files reveals that Calacanis introduced Epstein to early Bitcoin developers Gavin Andresen (a key contributor to Bitcoin’s core software) and Amir Taaki (an open-source advocate involved in Bitcoin and related projects) in 2011.

In his initial email to Epstein, Calacanis addresses Epstein casually, writing “hey pal,” and mentions he’s “running out to a kids birthday party,” but will “dig up their info” on Andresen and Taaki, who he describes as “crazy open source folks” who are “motivated by the same things as wikileaks.”

Calacanis offers to facilitate connections, noting he had recently featured them on his podcast or show.

The exchange continues, with Epstein eventually emailing Andresen directly.

“Calacanis offers to facilitate connections, noting he had recently featured them on his podcast or show.”

Luckey Lays it Out

Palmer took to X following the email release to call out Calacanis over the revelations. 

Man starts VR company, donates to Trump: “Total moron, no moral compass!”

Man rapes children: “hey pal!”

See below;

One example where Jason simultaneously denies involvement with Epstein since the 90s and accuses my cofounder @mttgrmm of photoshopping him to look “twice as fat as I ever was”.

(It was an unaltered CNBC screenshot, he refuses to recant or acknowledge) https://t.co/YGTMEZ2ge0

— Palmer Luckey (@PalmerLuckey) January 31, 2026

Yeah, you know GMAX? pic.twitter.com/nM5i4osFFB

— Palmer Luckey (@PalmerLuckey) January 31, 2026

And of course…

Jason has disabled comments on his account.

— Palmer Luckey (@PalmerLuckey) January 31, 2026

And that….’s the rest of the story. 

Via Middle East Eye

As night fell on Friday, a tense sense of dread settled over Iranians at home and abroad, with rumors of an imminent US military strike took hold across Iran.

“I kept waiting for it to hit. I couldn’t sleep until morning. I was waking up and straining to hear any sound of explosions. Let’s see what happens tonight,” Milad*, a 43-year-old engineer living in the capital Tehran, said about that night. Shohreh, a 68-year-old woman, goes to a park near her home in east Tehran every morning for group exercise. When she returned home on the morning of 31 January, she said, “Today, all my friends were saying that it would hit tonight.“

Shohreh, who opposes a foreign attack on Iran, said people seemed to be losing their minds. “They think that if the US strikes, everything will be fine,” she said. “Because of the killings committed by the Islamic Republic, people are becoming desperate. They no longer know what is in their interest and what is against them.”

For the past week, as Washington has once again beaten the drum of war against Iran, the prospect of conflict has become a real and present fear for Iranians. The movement of a large US military fleet to the Middle East has not only triggered a new multibillion-dollar arms deal with Saudi Arabia and Israel; for Iranians, it has brought confusion, psychological pressure, and fear of a disastrous future.

Iranians are still in shock following the establishment’s bloody crackdown on protests that erupted on December 28 in Tehran’s bazaar over the economic crisis and quickly spread to cities across the country.

According to government sources, 3,117 people, mostly security forces, were killed in the crackdown. However, human rights groups outside Iran believe the number is much higher, with some putting it at more than 6,500 people, the majority of them civilians. No international fact-finding mission has yet been established to verify the figures.

‘Seal the windows’

Arzoo, a 32-year-old government employee opposed to the establishment, described a quiet anxiety among people. Many avoid talking about the deadliest aspects of war, which are all too familiar after last summer’s brutal war with Israel, and try to stay calm. But everyone is waiting for the first explosion.

“My neighbour across the street, in the building where I live, has sealed his windows,” Arzoo told Middle East Eye. “He said, ‘Seal the windows. When they bomb, there will be no difference between the regime and the opposition.’“

Beneath the fragile calm that Iranian society clings to, perhaps as a way to manage its own mental strain, lurks a persistent question: what to do when war begins? Social media, which became accessible again after a three-week internet blackout during the crackdown on protests, is now filled with advice on how to survive missile attacks and bombs.

The list of precautions is long: stock enough food and water for 10 days; keep a first-aid kit within reach; place identification and essential documents in a bag for quick evacuation; keep emergency exits clear; move to open spaces at the sound of an explosion; lie on the ground next to a wall. Dozens of similar tips circulate on Persian-language platforms.

The sources of much of this advice are unclear. It is also unknown whether the same bots active during the June Israeli-US strikes – promoting Reza Pahlavi, the son of the deposed Shah – are behind it. Whoever is behind these posts has an evident impact.

Arzoo said she has seen the messages and has stored “10 bottles of drinking water and a few cans of food at home, just in case”.

Amin, a 75-year-old retiree with kidney disease, said he bought a three-month supply of medication last week and is keeping it at home. “Some of this advice may be media manipulation,” he said, “but I bought my essentials anyway, out of caution. No one knows what will happen tomorrow.“

Amin, who lived through the eight-year Iran-Iraq war and last year’s 12-day war, said he is deeply saddened to see his country on the brink of another war.

A leftist activist who has opposed the theocratic rulers since the 1979 revolution, he said: “This regime executed my closest comrades after the revolution and is now killing our children. I have no sympathy for it. But I also hate war. War will destroy everything left for us.”

These fears and preparations are not limited to those inside Iran. They are shared by the Iranian diaspora, estimated at around four million people. Many fear another nationwide internet blackout, like those during the 12-day war and last month’s crackdown, that would disconnect them from their loved ones. They also fear for the lives of their families.

At least one person was killed and over a dozen injured as a result of a “gas explosion” this morning in the Southern Iranian port city of Bandar Abbas, with the apartment building from which the blast originated from suffering significant damage. Claims have circulated that the… pic.twitter.com/ZLZtyF858J

— OSINTdefender (@sentdefender) January 31, 2026

Fatemeh, who lives in Finland with her husband and son, worries about her elderly parents in Tehran. During the war with Israel, her parents could not leave the city because they had no access to transportation. 

“I asked my parents to leave Tehran before a new war started,” Fatemeh said. “They answered they wouldn’t go anywhere. They said they had nowhere to go, which is true. That’s why I asked a close friend to visit them and buy basic supplies and medicines during these days.”

‘A fool like Donald Trump’

Across Iran, cities remain calm, at least for now. There are no long lines at gas stations. Shops are open. People are going to work as usual. Early in the morning, schoolchildren wait outside their homes for the school bus.

Still, the sense of alarm is widespread. Soroush, a 27-year-old student, moved with his family to a city in northern Iran during the war to escape Israeli missiles. He said while the panic of that period is no longer visible, the fear of another war runs through everyday conversations.

“The vibe is not like the collective panic of the 12-day war,” he said. “It feels like people are mentally prepared. Before the Israeli attack, we had no idea what war would look like. Now we have an image in front of us. We know what we will face.”

Soroush feels that the lives of Iranians have turned into a game for the country’s leaders and for Western powers. He points to the betting website Polymarket, where many have bet thousands of dollars on a US strike on the night of 31 January. 

“Our lives and our deaths have become entertainment,” he said. “A game for others.“

Saba, 41, spoke of her fear for the future of her eight-year-old daughter and 12-year-old son. She also described her frustration with the government’s repression, the self-interest of opposition figures abroad, and the US warmongering.

“What a miserable people we are,” she said. “Our rulers massacre people in the streets. Reza Pahlavi has become the face of our opposition abroad. And our enemy is a fool like Donald Trump.”

*Names have been changed for security reasons.

Earlier this month the Wall Street Journal reported that there was an internal debate at Goldman Sachs over whether to get rid of General Counsel Kathryn Ruemmler over her relationship with Jeffrey Epstein. 

Ruemmler, a former White House attorney for Obama, told Goldman execs when they hired her in April 2020 that the relationship was purely professional – yet it would later become public that she not only met with Epstein dozens of times and exchanged friendly emails for years, she was listed as an executor of Epstein’s will as recently as Jan. 18, 2019 – which had been removed before he died in prison on Aug. 10 of that year.

She also denied having ever helped Epstein with PR, telling the outlet “I did not advocate on his behalf to any third party—not to a court, not to the press, not to the government.”

Turns out that was a total lie. 

On Friday, the DOJ released over 3 million pages of Epstein documents, including one in which Ruemmler was helping draft statements to help Epstein counter claims that he got a “sweetheart deal” when he was allowed to plead guilty to minor charges in a 2007-2008 sex trafficking case involving dozens of underage girls. 

Epstein email confirms what we wrote in December, Kathy Ruemmler was helping draft potential Epstein statements dismissing claims he got a “sweetheart deal” to outlets like Washington Post. pic.twitter.com/rmfk1IG8Z1

— Andrew Kaczynski (@KFILE) January 30, 2026

We also found out that their relationship was far from ‘purely professional’ – as the Washington Free Beacon reported Friday that Epstein showered her with luxury gifts – including a $9,400 Hermes handbag, a Hermes-branded Apple watch, and a spa treatment package at the Four Seasons Hotel in Washington DC. 

The documents released Friday show otherwise. In emails ranging from 2014 to 2019, Ruemmler routinely corresponded with Epstein’s associates to accept gifts or express her gratitude to Epstein. In some cases, she asked for specific items.

The priciest gift likely came in August 2016, when Epstein purchased Ruemmler a $9,400 handbag from the French luxury brand Hermes. Epstein took a particular interest in ensuring Ruemmler received the bag, directing one of his associates, Lesley Groff, to “confirm receipt with Kathy” and “follow up to make sure it happens.” When Ruemmler received the bag, she wrote to Groff, “OH MY GOD!!!!! He is in so much trouble!!!! I am dying. It is so beautiful,” as Groff relayed to Epstein. Used versions of the same bag—a Jypsiere 31—now sell for around $5,000.

The bag:

The emails:

Two years later, Epstein styled Ruemmler with the Hermes edition of the Apple Watch – which retails for $1,300. In response, she said the gift was “so sweet of Jeffrey!” 

“If truly okay with him to do the Hermes, I would love the 40 mm, stainless Hermes with bleu indigo swift leather double tour,” she wrote at the time. “I’ll wear that one every day, whereas the sportier ones I would likely only wear on weekends or when exercising, etc.”

As for the spa treatment, Epstein booked a “full half day” at the Four Seasons Hotel in Georgetown in August 2016 – writing to an associate “she won her case and needs some pampering,” to which an associate replied “Kathy will go either today or tomorrow she says…”

The Free Beacon reports further:

Epstein appeared to provide other gifts of unknown value to Ruemmler. In December 2014, an Epstein associate emailed Ruemmler to inform her that Epstein planned to send his housekeeper to “deliver your ring to you!!” In February 2019, an Epstein associate sent a reminder email to an unidentified individual reading, “Reminder: Bottle of wine and note card to be delivered to Ruemmler today. Let me know once it has been delivered so I can tell Jeffrey.”

Months after that email, Epstein was arrested in July 2019 and charged with sex trafficking minors. 

After graduaating from Georgetown University Law Center, Ruemmler served in the Obama White House from 2011-2014, after which she returned to law firm Latham and Watkins. She joined Goldman in 2020 as a partner, and became chief legal officer and general counsel in 2021 – where she also advises CEO David Solomon. 

After an April 2023 report in the Journal detailing the more extensive connections between Ruemmler and Epstein – including how the two had “met dozens of times, that Epstein had visited apartments she was considering buying and that he offered assistance with her travel planning,” including a 2017 plan to take her to ‘pedo island,’ bankers complained to senior management – pointing out that she had a role on the firm’s reputational risk committee. The bankers were essentially told to stand down. 

Will Goldman continue to stand behind their Epstein gal-pal top lawyer?