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Meet The “World’s Most Dangerous” Hotel That Leaves Guests Stranded 35 Miles Offshore

Meet The “World’s Most Dangerous” Hotel That Leaves Guests Stranded 35 Miles Offshore

A remote former Coast Guard tower off the coast of North Carolina has become one of the country’s most unusual vacation destinations, with thrill-seekers paying to spend days stranded 35 miles out in the Atlantic on what’s been dubbed the world’s most dangerous hotel, according to the NY Post.

Interest in Frying Pan Tower recently surged after charter captain Austin Aycock posted a TikTok showing six guests being dropped off at the rusting structure before he motored away, joking, “See you in a couple days!” The video has attracted more than 2.2 million views, with viewers split between fascination and disbelief.

(Photos: NY Post)

Built in 1964, the decommissioned light station sits about 80 feet above the ocean in an area known as the “Graveyard of the Atlantic.” Once guests arrive, there’s no easy way back. Leaving requires either a helicopter or a 35-mile boat ride to shore.

The Post writes that rates start at about $200 per person per night with a three-night minimum stay. Aycock said one particularly adventurous group remained on the tower for two weeks.

The location isn’t for the faint of heart. The surrounding waters are home to great white, bull, and tiger sharks, while the tower sits in hurricane-prone waters where storms can bring winds exceeding 100 mph. Medical emergencies also present a challenge due to the remote location.

(Photos: NY Post)

Despite its isolation, the tower can accommodate up to 12 guests across eight bedrooms and offers modern comforts including solar power, high-speed internet, hot showers, a fully equipped kitchen, and a reverse osmosis water system.

Visitors can fish, snorkel over a nearby reef, shoot biodegradable clay targets, or hit fish-food golf balls into the ocean. A professional chef is also available for private groups, while the massive helipad doubles as a scenic spot for stargazing and watching the sunrise.

The viral video sparked plenty of reactions online. Some commenters said nothing could convince them to stay overnight, while others joked the tower would be the perfect place to hide from a zombie apocalypse. One viewer summed up the skepticism by asking, “What’s the opposite of a bucket list?”

Tyler Durden
Wed, 07/01/2026 – 19:05

As Democrats Freak Out Over Socialist Takeover, Kamala Harris Speaks With Zohran Mamdani

As Democrats Freak Out Over Socialist Takeover, Kamala Harris Speaks With Zohran Mamdani

In the same week Democrats began sounding alarms over radical left-wing revolutionaries gaining power and hijacking the party, there is a new report from Axios that Kamala Harris privately spoke with far-left New York City Mayor Zohran Mamdani and held closed-door meetings with progressives, including pro-Palestinian activists, as she appears to lay the groundwork for a potential 2028 White House run.

Axios reported, “Harris, who occasionally has texted with Mamdani in the past few months, called him two days after the mayor’s handpicked candidates swept three congressional races in New York City, ousting a pair of incumbents.”

It’s the latest sign the former vice president is laying the groundwork for a potential White House run in 2028 — and is looking to strengthen or repair her relationships with left-wing Democrats,” the report said.

Axios did not reveal the specifics of the conversation, but the timing is telling.

Democratic Party elites are increasingly fearful that Democratic Socialists are gaining real power inside the party, and Harris’ private outreach to Mamdani suggests she understands the far left may be impossible to ignore ahead of 2028.

The wake-up call for the Democratic Party came last week in New York City, where Democratic Socialists scored closely watched House primary victories over candidates backed by House Democratic Leader Hakeem Jeffries.

The result sparked panic inside the party, as establishment Democrats went to MSM to rant:

Veteran Democratic strategist James Carville/ New York (D) Congressman Tom Suozzi

New York Attorney General Letitia James

Sen. Elissa Slotkin, D-Mich

Hakeem Jeffries

Our take is that Harris might not just be repairing relationships with socialists but also hedging against a party base that is quickly shifting far left as the establishment scrambles to contain it.

That’s because mainstream America might not be ready for a socialist takeover. The Trump team fired up their narrative machine and blasted the “communists” last week … Trump said on Truth Social last week:

“These are not social Democrats; these are hard-core, godless Communists. This is the most serious threat to our Country since its existence 250 years ago.”

Polymarket odds on Democratic Presidential Nominee 2028

Whether Harris asked Mamdani to dial back the socialist propaganda remains unknown as the party, with no guardrails, increasingly embraces socialism and Marxism – just as much of Latin America is eradicating far-left extremists from power.

Tyler Durden
Wed, 07/01/2026 – 18:15

Copper Demand Surges, But Supply Deficit Is Hard To Solve, Expert Says

Copper Demand Surges, But Supply Deficit Is Hard To Solve, Expert Says

Authored by Mary Prenon via The Epoch Times,

The ongoing artificial intelligence (AI) boom underscores a harder-to-resolve supply issue for copper, according to veteran natural resource investor Rick Rule.

Speaking recently with Siyamak Khorrami, host of EpochTV’s “Market Insider,” Rule said the increasingly energy-intensive lives people around the world are living have pushed up demand for copper. With companies and countries investing heavily in AI, future demand for the red metal will be “staggering,” he said.

At the same time, the world, especially the United States, doesn’t have enough copper development projects “in the pipeline,” Rule said, making a copper shortage and higher prices inevitable.

Growing Supply Deficit

According to the International Copper Study Group, global refined copper consumption rose to 28.2 million metric tons in 2025 from 25.8 million metric tons in 2022, while production increased to 28.6 million metric tons from 25.2 million metric tons over the same period. This represents a supply surplus of 400,000 metric tons.

However, given the essential role copper plays in electrification, digitalization, and technologies such as AI, data centers, electric vehicles, and defense, a January S&P Global study predicts that demand for the metal will rise to 42 million metric tons by 2040. The study also estimates that, without “meaningful supply expansion,” there could be a copper shortfall of about 10 million metric tons by then.

Copper prices have risen significantly. Copper futures on the New York Mercantile Exchange settled at $6.20 per pound on June 28, nearly doubling from their post-pandemic low of $3.23 per pound, reached on July 11, 2022.

The situation is more challenging for the United States. The country is a net copper importer, producing less than half of the refined copper it consumes. According to the United States Geological Survey, a scientific agency under the Department of the Interior, America produced 850,000 metric tons of refined copper in 2025 while consuming 2.2 million metric tons, resulting in a deficit of more than 1 million metric tons.

The United States is expected to remain a net importer of copper through 2040, with imported refined copper projected to account for about 70 percent of consumption, according to a June 23 SEC filing citing Wood Mackenzie data.

In November 2025, the Department of the Interior added copper to the U.S. Geological Survey’s critical minerals list.

Underinvestment

“In copper, we have been systemically underinvested in exploration, in construction, in development, and we’ve been doing so for 30 years,” Rule told Khorrami.

“This is a capital-intensive, long-term business. There is nothing we can do right now—nothing, not one thing—that will prevent a supply shortage within five years.”

Source: U.S. Geological Survey, Mineral Commodity Summaries 2025—Copper

Rule said developing a new copper mine is a very long process, taking about 10 years to explore and find a mine, three years to drill, three more years “in a good country” to secure a permit and funding, and two years to build—about 18 years in total.

“The difficulty is that people weren’t doing enough of this 18 years ago,” he said.

Wood Mackenzie estimated in a 2021 analysis that the world copper industry had committed around $120 billion in capital spending to maintain production at the time, offsetting the impact of grade decline and depletion.

“Nonetheless, without additional substantial investment, production will decline from 2024 onwards. Coupled with demand growth, this decline in output will lead to a theoretical shortfall of around [16 million metric tons] by 2040,” the analysis states. To close the copper supply shortfall, the analysis said, the industry would need about $325 billion in additional investment.

“The industry is looking right down the barrel at an incredible capital spend to merely maintain current production levels, never mind increase it to meet the demands of rural electrification in the third world, data centers, electric vehicles, the electrification of everything,” Rule said.

“If you believe the numbers that people like Google and Amazon are putting out in terms of their data center demands, we will need to produce more copper between 2026 and 2050—24 short years—than has been mined in the history of mankind,” he said.

Rule said the industry has entered a copper construction cycle.

“For a long time, when copper was languishing at $3 a pound, the industry didn’t make enough money to build new mines; $6 a pound is not a bad incentive price.”

Permitting Hurdles

However, he said there are currently few construction-ready projects due to decades of underinvestment in mineral exploration. In the United States, he added, the permitting process is a major hurdle for these projects to move forward.

For example, Rule said the Resolution Copper project, jointly owned by Australian mining giants Rio Tinto and BHP and located in Arizona, is a high-quality copper deposit and well-located, but has been waiting more than a decade for a permit.

According to Rio Tinto’s website, if developed, the Resolution Copper project could be one of the largest copper mines in the United States, having the potential to supply up to one-quarter of the U.S. copper demand.

After decades of exploration, the Resolution deposit was officially discovered in 1995, according to the Department of Agriculture. It started the permitting process in 2013 and released its independent Final Environmental Impact Statement in 2019, entering a new phase of public consultation, according to a Rio Tinto press release. The company said in a March release that it had completed a key land exchange advancing the project toward development.

“All of this points to the fact that we’re going to have to get used to higher copper prices,” Rule said.

Tyler Durden
Wed, 07/01/2026 – 17:50

Man Who Sued Pepsi Over Fighter Jet Finally Gets His Reward 30 Years Later

Man Who Sued Pepsi Over Fighter Jet Finally Gets His Reward 30 Years Later

Three decades after suing Pepsi for refusing to give him a fighter jet, John Leonard finally got a reward that may be even better, according to a post at Supercarblondie

Leonard became the center of one of advertising’s most famous legal battles after taking a 1996 Pepsi commercial at face value. The ad, promoting the company’s Pepsi Points loyalty program, jokingly claimed customers could redeem seven million Pepsi Points for a military Harrier jet.

Rather than laugh it off, the Seattle college student raised enough money to buy the required points and submitted a claim for the aircraft. Pepsi rejected it, insisting the jet was never a real prize.

The article says that the case went to court, where a judge ruled that no reasonable person would believe Pepsi was seriously offering a fighter jet in a soft drink promotion.

Although Leonard lost the lawsuit, the bizarre dispute became legendary and was later chronicled in the Netflix documentary Pepsi, Where’s My Jet?.

Now, nearly 30 years later, Frontier Airlines gave the story a happy ending. As part of a Super Bowl campaign called “The Big Redemption,” the airline converted Leonard’s original seven million Pepsi Points into seven million Frontier Miles, effectively giving him free flights for life.

The airline even featured Leonard in a tongue-in-cheek commercial, handing him the keys to an Airbus A320neo as a nod to the decades-old saga.

Now in his 50s with a wife and children, Leonard joked that unlimited airline miles are far more practical than owning and maintaining a military fighter jet. After waiting three decades, he never got the Harrier, but he may have received an even better prize.

Tyler Durden
Wed, 07/01/2026 – 17:25

20-Year Old US Citizen Charged In Israel With Spying For Iran

20-Year Old US Citizen Charged In Israel With Spying For Iran

Via The Cradle

A 20-year-old US citizen living in Jerusalem is set to be charged with spying for Iran, according a police statement issued Tuesday, ahead of the individual’s indictment. 

The US citizen was detained by Israeli authorities on June 9, but the case is only this week being revealed. Israel’s police say he maintained contact with an Iranian intelligence-linked handler. According to the police, he captured photographs and videos of “sensitive” Israeli sites.

Getty Images

The statement also claimed he received “dozens to hundreds” of dollars for each task he carried out on behalf of Iranian intelligence. The suspect’s activities were being carried out in the past few months, according to the authorities. 

A prosecutor’s declaration was filed against the US citizen on Tuesday. He will be officially charged with espionage in the near future.

Israeli police are requesting that the alleged Iran-linked spy remain imprisoned until legal proceedings conclude.

Israel has witnessed a major surge in Iranian espionage activity over the past year. Early last month, Tel Aviv indicted one Israeli citizen and three soldiers for cooperating with Iranian intelligence services and carrying out espionage work, including capturing photos of “sensitive sites.”

The intelligence activity reportedly included photographing train stations, shopping centers, security cameras, and the Israeli Air Force Technical School.

Hebrew media reports from May said some of the accused independently approached their Iranian handlers requesting additional missions.

Israeli outlets had also reported in late April that two Israeli Air Force technicians who were operating at the Tel Nof Air Base near the city of Ashdod were set to be charged with espionage for Iran.

By April, over 50 indictments had been filed against Israeli citizens accused of spying for the Islamic Republic since October 2023, according to Mondoweiss.

Security analysts and commentators in Israel have described the situation as an “espionage epidemic” fueled by public distrust of political leadership, corruption, and general discontent among Israelis.

Recent cases in 2026 alone include an Iron Dome reservist accused of passing system details for $1,000, multiple active-duty soldiers charged with espionage, and a thwarted plot to assassinate former prime minister Naftali Bennett.

Tyler Durden
Wed, 07/01/2026 – 17:00

Apple Negotiating To Buy Blacklisted Chinese Chips To Ease AI-Driven Shortage

Apple Negotiating To Buy Blacklisted Chinese Chips To Ease AI-Driven Shortage

After raising prices on their entire product line last week as much as 50% thanks to “unsustainable” input costs from the memory cartel (SK Hynix, Samsung, Micron and Sandisk), Apple is in active negotiations to buy memory chips from two Chinese semiconductor manufacturers on the Pentagon’s blacklist, aiming to diversify supply and mitigate the impact of sharply rising component costs triggered by surging AI demand.

Adding to Friday reporting from the Financial Times, Bloomberg now reports that the iPhone maker is seeking chips from ChangXin Memory Technologies (CXMT), a major DRAM producer, and Yangtze Memory Technologies Co. (YMTC), a fast-growing NAND flash maker. The components would be used exclusively in devices sold in China, where Apple already offers market-specific models. The talks are ongoing and not yet finalized, according to people familiar with the matter.

This was the logical next step… 

This move would expand Apple’s memory supplier base from its current three – Samsung Electronics, SK Hynix, and Micron Technology – to five. It comes after Apple raised prices across its Mac, iPad, and other product lines last week to offset what it described as an unprecedented surge in memory and storage costs. A company spokesperson attributed the increases to the “rapid expansion of AI,” noting the firm had “never seen a component price increase this much, this quickly.”

The global memory shortage stems from hyperscale data-center operators prioritizing high-end memory for AI training and inference workloads. This has pulled production capacity toward premium segments, driving up prices for the DRAM and NAND used in consumer electronics. Microsoft took similar action last week, raising Xbox console prices for the third time in 13 months, largely due to the same memory squeeze.

The Apple news was the straw that broke the memory’s back: chip stocks had already gotten whacked on Wednesday amid a momentum-meltdown sparked by news that Meta would pivot to a cloud business to sell excess compute from its overpriced collection of data centers, effectively become a neocloud, while capitulating on hopes to build a leading frontier model. 

Aaaand Micron is now below its 20-day moving average for the first time since April…

It’s not clear what happens next. Both CXMT and YMTC appear on the Defense Department’s 1260H list of Chinese companies believed to have ties to the People’s Liberation Army. YMTC has carried an additional Commerce Department Entity List designation since 2022, which generally bars it from receiving U.S. technology without special licenses.

That said, Apple does not require formal U.S. government approval to proceed with purchases – though adding the two firms to its supply chain carries significant political risk amid ongoing U.S.-China tensions over advanced technology. Apple CEO Tim Cook has appealed directly to Trump administration officials, including Treasury Secretary Scott Bessent, to help manage potential backlash from national security hawks in Washington. Some officials within the administration have expressed objections to giving Apple leeway on the matter.

To limit exposure, Apple is structuring any deal around devices sold only in China rather than global models. The company previously explored sourcing memory from YMTC in 2022 for China-market iPhones, but that effort was abandoned after strong opposition from U.S. lawmakers and officials concerned about supply-chain security.

In short – the memory market has been reshaped by AI infrastructure spending. Major producers have shifted output toward high-margin products demanded by data centers, leaving tighter supply and higher prices for mobile and computing applications. Samsung and SK Hynix have outlined massive capacity expansions, while Micron is investing heavily in U.S. production – but meaningful relief for consumer electronics remains months away.

For Apple, securing additional sources could help stabilize costs on China sales and reduce reliance on the dominant trio of suppliers. For policymakers, the episode highlights a recurring tension: balancing efforts to secure critical technology supply chains against the immediate economic pressure of higher consumer prices driven by concentrated global demand.

Any agreement would likely draw scrutiny from Congress and administration hardliners who view partnerships with firms on the 1260H list as contrary to U.S. efforts to reduce dependence on Chinese technology. At the same time, the memory-driven component inflation has become visible enough that some officials may see limited, geographically restricted sourcing as a pragmatic pressure valve.

Tyler Durden
Wed, 07/01/2026 – 16:40

Controversially, The Supreme Court Rules For Common Sense: Taibbi

Controversially, The Supreme Court Rules For Common Sense: Taibbi

Authored by Matt Taibbi via Racket News,

From Mother Jones yesterday:

The science is far from settled about whether trans girls who have received gender-affirming treatment actually have a competitive advantage or pose a greater risk of injuring other players. But the majority opinion, by Justice Brett Kavanaugh, glosses over those unknowns – reasoning that “biological sex” is a good enough proxy for athletic ability for states to categorically ban trans girls from girls’ sports.

It was once uncontroversial to observe that testosterone gives athletes advantages. Baseball’s steroid scandals were only a tick of the historical clock ago, and the number of people in the continental United States willing to stand up and say Mark McGwire and Raffy Palmeiro hit their own homers would have fit in a dentist’s waiting room. Every working comedian in the country made at least one joke about balloon-headed liar Barry Bonds:

This was universal, but once the trans issue with its myriad lifestyle and political considerations came along, the general public was suddenly asked to accept one factual absurdity after another about the same thing. “Far from settled!” Really, Mother Jones?

The Supreme Court Tuesday handed down a landmark 6-3 ruling in West Virginia v. BPJ and Little v. Hecox, upholding two state bans on the participation of transgender athletes on women’s and girls’ sports teams. Justice Brett Kavanaugh, who wrote the majority opinion, used strong language in upholding West Virginia and Idaho statutes, saying the court disagreed that “schools must allow biological males… to compete on girls’ sports teams.” Kavanaugh even used a hated term, asking, “May schools determine eligibility for women’s and girls’ sports based on biological sex? The answer is yes,” upsetting pundits who want officials to stick to activist-approved phrases like “sex assigned at birth.”

It’s a good decision for women and girls,” said Kara Dansky, who wrote an amicus brief supporting the states for the U.S. chapter of the Women’s Declaration International.

Dansky was once senior counsel for the ACLU Center of Justice. In this case she was on the other side of the ACLU, whose attorneys (including co-director of LGBTQ and HIV rights, Chase Strangio) argued against the state bans. The ACLU has also split with former feminist allies by arguing for the housing of biological men in women’s prisons, including those with records of violent sex offenses. These efforts in trying to force society to reimagine biology are clearly failing, but the outraged reaction yesterday shows the fight isn’t over. NBC described the decision as a “major blow to LGBTQ rights,” and former VP contender Tim Walz claimed the “Supreme Court says schools can be cruel to my trans kids”:

Cruel is an extraordinary word to describe the act of allowing states to object to a radical social program that was implemented virtually everywhere ahead of both scientific and (especially) political consensus. The numbers aren’t close. A New York Times/Ipsos poll last year found 79% of Americans, including 67% of Democrats, are opposed to “athletes who were male at birth” participating in women’s sports. The same poll found 71% of all Americans, including 54% of Democrats, believe no one under 18 should have access to puberty blockers. This was after exposure to years of movement messaging.

Strangio and the ACLU don’t see that they’re asking for something people can’t give them, even if they wanted to, namely the honest belief that people who’ve transitioned have literally changed sexes. The gambit failed for the same reason Spanish speakers rejected “Latinx.”

Like politics, language has a democratic dynamic. If people don’t use Latinx because Spanish (like 38% of all languages) is a gendered tongue with its own distinct sonic system that Spanish speakers love, they won’t use it, and you can’t make them. The ostensible logic behind Latinx was to “challenge the gender binary” and “remove gender from Spanish,” in part because a handful of intellectuals claim gendered language causes unequal economic outcomes. A rational person finds this absurd, unless you believe the early French schemed to consign bananas to girlhood while making boys out of tuna as a weirdly subtle means of oppressing women in future centuries.

As with Latinx, activists tried to lobby “sex assigned at birth” into reality, only to have the population spit it back out as “biological sex.” The court just recognized another thing that was uncontroversial until ten minutes ago. Yes, a small percentage of human beings have intersex characterstics, but most of the world’s population can’t be forced to unlearn what it intrinsically knows. Knowing which gametes your body cranks out is another form of “lived experience,” one is irrelevant to activists, apparently, because it’s “normative.” People know they weren’t “assigned” a sex by hospital clerks. Some people tried to think that way. It just didn’t take.

Activists could have started with a proposition: given that sex is binary, what can society do to accomodate people who experience dysphoria and wish to live under a new identity? The same Americans who accepted gay marriage fairly quickly after Obergefell v. Hodges 11 years ago likely would have extended as far as they could without jumping into a factual or scientific abyss, on issues ranging from expanded insurance to easier routes to housing or identification. Instead, activists treated access for biological males to women’s locker rooms, sports rosters, even prisons as settled rights matters, against which only right-wing Christian patriarchal bigots could possibly object. Unless 80% of Americans are bigots, a lot of apologies are owed: 

None are coming, of course. 

Subscribers to Racket can read the rest here

Tyler Durden
Wed, 07/01/2026 – 16:20

The Elephant In The Room That Is Fraud

The Elephant In The Room That Is Fraud

Authored by Jack Hellner via AmericanThinker.com,

There has clearly been trillions of fraud over the last several decades, and politicians in both parties have shown very little interest in rooting out the fraud until Trump. Somehow, most of the media and other Democrats aren’t too concerned with saving taxpayer dollars—they spend their time attacking Trump.

The media and other Democrats were outraged when Trump spent $16 million dollars fixing the reflecting pool problems, and there was endless reporting, but there is virtually no outrage and minimal reporting on the endless fraud, no matter how many billions have been legitimately stolen from the taxpayers.

The following is a small sample of what crooks have gotten away with, which is only the tip of the iceberg.

Federal data revealed this:

In 2024, 35 percent of exchange enrollees and 40 percent of fully-subsidized low-income enrollees generated no medical claims….

Tens of billions went to big insurance companies to pay for many fake people. Yet, as Democrats shuttered the government, almost all the media spewed were intentional lies about how Republicans wanted to take health care away from the poor, and premiums would rise substantially for them.

The media didn’t have much interest when an enterprising young reporter found massive fraud in daycare centers in Minnesota. They also didn’t have any concern when we learned Governor Walz and Attorney General Keith Ellison knew about the fraud for a long time and instead of going after the criminals, sought to destroy the whistleblowers.

Here is how PBS reported on the story:

This week, the Trump administration dispatched federal officers to Minnesota amid concerns over fraud. The deployment comes after a right-wing influencer posted a video claiming, without proof, that daycare centers operated by Somali residents in Minneapolis had misappropriated more than $100 million.

Hospice fraud in California is massive. Where is the endless reporting by the media? Why aren’t they concerned that Governor Newsom and other officials did little to nothing about it? They also don’t seem interested in how many millions of taxpayer dollars flow to entities associated with Newsom’s wife. Instead, they attack the Justice Department for investigating the obvious.

A huge amount of fraud was found with a small sample of SNAP recipients, yet this news piece seems aggravated at the Trump administration for doing something about it:

The USDA says 700,000 were removed from SNAP. Here’s what counts as fraud.

Multiple studies have found that SNAP fraud is rare, yet the Trump administration continues to place heavy focus on the issue.

In May, Rollins told Fox News that her department had found around 700,000 people fraudulently using SNAP rolls since February 2025 and arrested 895 people in the past year for fraud. She said 244,000 fraudsters used dead people’s social security numbers and 500,000 collected benefits in multiple states.

Here is a story that got little coverage about health care fraud schemes. You would think that with all the worries about Medicare survival that an arrest of around 450 people in 45 states would get extensive coverage, but it doesn’t.

New: Record Healthcare Fraud Bust: 450 Defendants Now Charged by Trump DOJ

How often is this happening throughout the country?

What about this?

Michigan childcare provider collected $1.1M in taxpayer funds despite no visible signs of operating

Where are the administrators we pay for verifying that daycare providers do in fact qualify for the money?

The media clearly has little interest in reporting on fraud perpetrated by illegals:

Illegal Alien Gets 8 Years in Prison for $89 Million Payroll Scheme Employing Illegal Alien Construction Workers

I bet few people saw this story about all the money funneled out during COVID:

NC Tax Preparer Pleads Guilty in $13.9M COVID-19 Fraud Scheme

Seven other return preparers have already pleaded guilty to their roles in the same scheme. 

The media is working hard to avoid the story about how we chased down a Somalian fraudster after he fled the country:

$250 Million Minnesota Fraudster Finally Nabbed — in Mogadishu 

Every once in a while, the media and other Democrats claim to care about debts and deficits, but they clearly don’t when they refuse to help going after fraud and treat every cut or freeze in government spending programs as a disaster.

The only time they really care about deficits is when they falsely claim that Republican tax cuts cost the government trillions of dollars.

Here is the truth about federal income and spending:

Individual income taxes collected FY 2017 $1.5 trillion. By FY 2025, they were up to $2.66 trillion—up more than double the 35% inflation rate for that period. Corporate income taxes in FY 2017 were $297 billion and in FY 2025, they were $452 billion (or up 52%). 

Meanwhile, spending went up from $3.98 trillion to $7.20 trillion—up 77%, which is more than double the rate of inflation. Uncontrolled spending including massive fraud is clearly the problem.

Is our media on it? Hardly.

Tyler Durden
Wed, 07/01/2026 – 15:45

TikTok Settles Lawsuit Accusing Social Media Giants Of Harming Florida Boy

TikTok Settles Lawsuit Accusing Social Media Giants Of Harming Florida Boy

TikTok has reached a settlement with a Florida teenager who blamed the platform and other social media companies for fueling his addiction, leading to depression, anxiety, and sleep loss, just ahead of a trial to determine the industry’s part in the youth mental health crisis.

The settlement, made public Tuesday, lays to rest claims against ByteDance’s TikTok related to the lawsuit filed by the boy.

Details of the settlement were not disclosed.

Trials against Meta’s Instagram and Snap’s Snapchat remain scheduled for July in California.

According to court filings, the plaintiff argues he began using social media at approximately age 8 and became addicted.

As Kimberley Hayek reports for The Epoch Times, the case is one of many taking aim at social media companies, accusing them of designing the platforms to addict young users.

Earlier this month, YouTube settled with the same plaintiff.

“YouTube’s decision to resolve this case before having to face a jury speaks for itself,” the plaintiff’s attorneys from Morgan & Morgan stated in that settlement.

“We will continue fighting on behalf of all those affected by social media addiction to bring these companies to justice and compel them to prioritize the safety of their young users over their bottom lines.”

In March, a jury in Los Angeles found Meta and Google liable for harms to a young woman, awarding damages after findings of negligence tied to addictive design features.

Jurors found the platforms contributed to addiction and mental health issues, leading to millions in compensatory and punitive damages. A judge upheld the verdict this month.

More than 3,300 addiction-related lawsuits remain pending in California state court, with thousands more pending in federal court. School districts and states have also pursued claims, with some settlements reached, such as a Kentucky district’s agreement with several platforms.

The TikTok settlement allows the company to avoid what would have been only the second individual trial of its kind in California over social media’s impact on minors.

Plaintiffs in these cases argue that features, such as endless scrolling, personalized algorithms, and notifications create a “vicious cycle” of engagement that does harm to young brains.

Tech companies argue they have implemented parental controls, age-appropriate tools, and other safeguards for young users. Google, for instance, has underscored its safety efforts in statements regarding the YouTube settlement.

“Our focus remains on building age-appropriate products and parental controls that deliver on that promise,” Google spokesman José Castañeda said in a statement. 

Prolonged social media use has increased risks of depression and self-harm among young people, according to a recent study by the Medical Journal of Australia.

Tyler Durden
Wed, 07/01/2026 – 15:25

Goldman Sachs Warns Oil Inventory Rebuild Won’t Prevent 2027 Supply Glut

Goldman Sachs Warns Oil Inventory Rebuild Won’t Prevent 2027 Supply Glut

The global race to rebuild depleted oil inventories will not be enough to offset a massive glut that’s coming to the market next year, as traffic through the Strait of Hormuz appears to be headed toward normalization, according to Goldman Sachs commodity strategists.  

First, arguing the bullish side, stockpiles of crude and refined petroleum products in many parts of the world have been depleted to multi-decade lows after governments raced to release strategic stockpiles in March after the Middle East crisis trapped millions of barrels of daily crude and product flows in the Persian Gulf. These inventories will now have to be rebuilt – a process that’s likely to put a floor under oil prices, Oilprice reports..

In the United States alone, the U.S. Strategic Petroleum Reserve (SPR) has been depleted to a 1983 low, while stocks at Cushing, the delivery point of WTI, have crumbled to operational-stress levels.

In addition, many countries, especially in Asia Pacific, are looking to build new reserve capacity to boost their energy security and never again be caught off-guard by a massive supply disruption like the one triggered by the closure of the most important oil and LNG chokepoint.

But Goldman Sachs takes the bearish side, and says that all these demand-supportive factors cannot erase the major glut coming next year. 

The investment bank expects the global oil surplus to be about 3 million barrels per day (bpd) next year, Samantha Dart, co-head of global commodities research at Goldman, told Bloomberg Television in an interview on Wednesday.

“We do expect a little over 1 million barrels a day just of SPR rebuilding globally, but still, that would leave us close to 2 million barrels a day of a surplus,” Dart added.

Other Wall Street banks have also started to predict a glut next year after the U.S. and Iran signed a memorandum of understanding in mid-June to negotiate a peace deal.

Morgan Stanley, for example, has slashed its oil price forecasts for the next 18 months as it expects the reopening of the Strait of Hormuz to accelerate a new supply glut.

More in Dart’s latest note available to pro subscribers.

Tyler Durden
Wed, 07/01/2026 – 12:45