Secretary of State Marco Rubio has made some fresh remarks to the press which reveal a deep irony while demonstrating the limited effectiveness of far-reaching anti-Moscow sanctions on the course of the war in Ukraine. The United States has nearly run out of effective targets for sanctions against Russia, he conceded in a frank moment Wednesday, coming soon on the heels of the Trump admin decision to impose new penalties on two of the country’s biggest oil producers.

“We’ve sanctioned their main oil firms – exactly what everyone’s been asking for,” Rubio told reporters following a meeting of G7 foreign ministers in Canada. “At this point, there’s not much left to target. We’re running out of options.” His attitude in answering the question seemed to be one of quiet exasperation or frustration and conveyed a sense of ‘what more do you want from us?’…

Secretary of State Rubio says the U.S. has nearly exhausted its options for new sanctions against Russia. “There’s almost nothing left to sanction. We’ve already hit their largest oil companies,” he said. The focus now shifts to enforcing existing sanctions and targeting Russia’s… pic.twitter.com/zq0gNsYjZV

— NOELREPORTS 🇪🇺 🇺🇦 (@NOELreports) November 13, 2025

Rubio had previously said President Trump approved sanctions on energy giants Lukoil and Rosneft largely at the urging of Ukraine and its European backers.

According to more from the comments:

The secretary of state also touched upon the issue of the so-called shadow fleet that Russia uses to bypass oil restrictions. He described the fight against it as “an enforcement mechanism” rather than a reason for introducing new sanctions. Rubio expressed the view that European partners should play a more active role in this process, as a significant number of the vessels operate closer to their territories.

When asked whether Russia truly seeks peace, Rubio replied that such things can only be judged by actions. In his opinion, Moscow has “stated clearly what they want is they want the rest of Donetsk, and obviously the Ukrainians aren’t going to agree to that”.

Rubio also interestingly seemed to acknowledge the current futility of sending more equipment to protect Ukraine’s pummeled energy infrastructure:

According to Rubio, discussions are underway on providing both specialised equipment and defensive weapons to protect energy facilities. However, the key problem remains the high risk that the equipment could be destroyed shortly after installation.

“If that equipment is ultimately destroyed a week later after it’s installed, that remains a problem. And that’s been the history of the last two or three years,” Rubio concluded.

All of this illustrates perhaps why Trump has lately signaled he’s ready to wash his hands of involvement in trying to achieve Ukraine peace, and why he’s done with doing ‘direct’ weapons transfers to Kiev.

NEW!! G7 Demands Immediate Ceasefire in Ukraine, Vows to Increase Sanctions on Russia

Niagara summit targets global ‘enablers’ of Kremlin war effort; Foreign Ministers agree current contact line should be the starting point of negotiations

Joint Statement on Ukraine 👇 pic.twitter.com/SZmF22uLUp

— Alex Raufoglu (@ralakbar) November 12, 2025

Meanwhile Moscow insists that it has adapted successfully by redirecting trade toward non-Western markets, particularly major BRICS countries, despite India recently scaling back its purchases of Russian oil. The EU’s years-long strategy has been sanctions package after sanctions package – and we’re up to at least 19 at this point.

Authored by Travis Gillmore via The Epoch Times,

California Gov. Gavin Newsom’s former chief of staff, Dana Williamson, was indicted by a federal grand jury on 23 charges related to public corruption, according to a Nov. 12 statement from the Department of Justice.

U.S. Attorney Eric Grant alleged that Williamson, 53, of Carmichael, California, committed bank and wire fraud, conspired to defraud the government and obstruct justice, filed false tax returns, and made false statements to investigators.

“This is a crucial step in an ongoing political corruption investigation that began more than three years ago,” Grant said in the statement. “As it always has, the U.S. Attorney’s Office will continue to work tirelessly with our law enforcement partners to protect the people of California from political corruption.”

According to the charges, Williamson allegedly helped divert about $225,000 in funds from a “dormant political campaign” to an associate’s personal account using a money laundering scheme to fund a “no-show job” between February 2022 and September 2024.

🚨🚨🚨 WHOA: Gavin Newsom’s former chief of staff, Dana Williamson, was arrested today after a three-year joint FBI-IRS investigation and charged with bank fraud, wire fraud, conspiracy to defraud the United States and obstruct justice.

Charges include illegally funneling… pic.twitter.com/eXQX4QUcaB

— Susan Crabtree (@susancrabtree) November 12, 2025

She is also charged with conspiring to create illegitimate, backdated contracts to thwart a federal investigation into Paycheck Protection Loans made to a business he owned.

Williamson also allegedly filed false tax returns, deducting luxury purchases of home goods and handbags, as well as private jet flights and hotel stays, according to the indictment.

She helped lead Newsom’s office for nearly two years before being replaced in December 2024.

Newsom is not named in the indictment. The campaign accounts in question belong to an unnamed politician identified as “Public Official 1” in the charging documents.

The governor’s office reacted to the breaking news on Nov. 12.

“Ms. Williamson no longer serves in this administration,” a spokesperson for Newsom’s office told The Epoch Times by email. “While we are still learning details of the allegations, the Governor expects all public servants to uphold the highest standards of integrity.”

Newsom’s office urged patience as the judicial process plays out.

“At a time when the President is openly calling for his Attorney General to investigate his political enemies, it is especially important to honor the American principle of being innocent until proven guilty in a court of law by a jury of one’s peers,” Newsom’s spokesperson said.

The indictment was returned on Nov. 7 but was kept sealed until Williamson was arrested on the morning of Nov. 12, according to the statement.

Agents with the FBI played a role in the joint investigation, together with federal partners, including the IRS, among others.

“Today’s charges are the result of three years of relentless investigative work, in partnership with IRS Criminal Investigation and the U.S. Attorney’s Office,” Sid Patel, special agent in charge of the FBI’s Sacramento office, said in the statement. “The FBI will remain vigilant in its efforts to uncover fraud and corruption, ensuring our government systems are held to the highest standards.”

Investigators said pursuing the fraudulent use of business deductions is a priority for the IRS.

“Disguising personal luxuries as business expenses—especially to claim improper tax deductions or to willfully file fraudulent tax returns is a serious criminal offense with severe consequences,” said IRS Criminal Investigation (IRS-CI) Oakland Field Office Special Agent in Charge Linda Nguyen. “IRS-CI will pursue charges against those who deliberately exploit their business for personal enrichment.”

Williamson pleaded not guilty during her first appearance at the U.S. courthouse in Sacramento, California, at 2 p.m. PDT.

She faces up to 20 years in prison and a $250,000 fine for each count of bank and wire fraud and respective conspiracy charge, as well as up to five years in prison and $250,000 fines for the conspiracy to obstruct justice and false statement counts. Each count of subscribing to a false tax return carries a potential penalty of $100,000 in fines and three years of imprisonment.

Sen. John Fetterman (D-PA) was hospitalized on Thursday after suffering facial injuries from a fall during a walk near his Western Pennsylvania home. 

According to a spokesperson, the Democrat Senator was transported to a Pittsburgh hospital “out of an abundance of caution.”

“During an early morning walk, Senator Fetterman sustained a fall near his home in Braddock,” a spokesperson said. 

“Upon evaluation, it was established he had a ventricular fibrillation flare-up that led to Senator Fetterman feeling light-headed, falling to the ground and hitting his face with minor injuries,” the statement continues. “He is doing well and receiving routine observation at the hospital. He has opted to stay so doctors can fine-tune his medication regimen.”

Fetterman joked about the injury – saying “If you thought my face looked bad before, wait until you see it now!”

Perhaps the pressure of crossing party lines to reopen the government and giving several ‘WTF is my party doing?’ interviews was too much for Fetterman, who returned home after voting with Senate Republicans on Monday.

His media appearances coincide with the Tuesday release of his memoir, “Unfettered,” which covers his experiences with clinical depression following his 2022 stroke and start of his term in Washington. 

In addition to telling Fox News that Democrats are rudderless, he also told CNN that fellow Democrats are complete dicks.

🚨NEW: John Fetterman *STUNS* CNN’s Dana Bash by telling her how Left crueler than Right🚨

FETTERMAN: “The Right would say really rough things and names … but on the Left, it was like they want me to die or that ‘We’re cheering for your next stroke’ … they even have a gif… pic.twitter.com/iMRyVTssgs

— Jason Cohen 🇺🇸 (@JasonJournoDC) November 12, 2025

We’re sure they’ve sent flowers… 

*  *  * Please consider supporting ZeroHedge

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Authored by Jonathan Turley,

“It’s a bold statement, isn’t it?”

Those words of Chicago City Treasurer Melissa Conyears-Ervin hardly capture the moment.

Yesterday, Conyears-Ervin declared that her office would no longer invest in U.S. Treasury bonds to protest what she called the “authoritarian regime” of President Donald Trump. It is more bonkers than bold. It makes about as much sense as President Trump saying that he will not eat deep-dish pizza to protest Chicago.

My hometown of Chicago is facing an economic meltdown due to towering debt and massive spending. Mayor Ben Johnson and the unions have pushed self-destructive tax schemes and borrowing plans that would only accelerate the flight from the city and the collapse of the city’s finances.

Now, the person in charge of investing that money is declaring that politics rather than economics will guide investments.

It is the ultimate virtue signaling at the cost of others. She is given a fiduciary duty to properly maintain and protect the investments of the city, which is currently facing a rising debt crisis. She is saying that the city will not invest in what Ald. Bill Conway (34th), a former investment banker, correctly described as “by far the most liquid and secure debt instrument in the history of the world.”

Chicago has held almost a quarter of a billion dollars in Treasury bonds in the last three years due to its healthy return for citizens. To forego such investments is Kamikaze economics, destroying your own portfolio and investors as a demonstration of true faith.

The position hurts only Chicagoans.  However, the loss to the citizens could still provide gains to Conyears-Ervin, who is running to replace radical Chicago congressman, Danny Davis. Her announcement is meant to tap into the rage as she declared: “Chicagoans do not want us to bankroll the regime — the authoritarian regime — of Donald Trump where he has waged a war on our city. It’s a bold statement, isn’t it? And we need it to be.”

So, a city collapsing under debt will forego investing in one of the most secure debt instruments in the world.

Let’s recap. Mayor Johnson wants to float massive bonds to avoid cutting the budget while taxing large businesses for every new person that they employ. At the same time, the city will not invest in bonds that guarantee the most secure investment of money currently in city coffers.

This is coming in a week when many are questioning the logic of the government shutdown. After losing billions and putting many families and travelers into duress, the Democrats agreed to basically the identical clean CR that was offered over a month earlier. Yet, Conyears-Ervin makes that effort seem brilliant in comparison.

It is the same logic as burning money as a way to prevent its theft.

It is not clear where the money will go.

Antifa does not currently offer an investment fund option that guarantees a total political return with no capital gains. On the other hand, over $200 billion is practically hard to stuff in the mattress of Conyears-Ervin.

This could work out in the end, resulting in practically no loss due to the new investment policies. As Johnson virtually chases businesses out of the city, there will be less money to invest. Problem solved.

Oil prices are bouncing modestly off of yesterday’s ugly drop driven by OPEC+’s outlook for a sizable surplus (glut) ahead. The IEA also flagged a deteriorating outlook for a sixth consecutive month, saying in a report on Thursday that supply will exceed demand by just over four million barrels a day next year.

“There’s a lot of oil supply that’s coming back from the OPEC+ countries,” Chevron Corp. Chief Executive Officer Mike Wirth told Bloomberg Television.

“There’s a period of time when it would appear we’re going to see more supply coming into the market than demand will be able to absorb.”

At the same time, Bloomberg reports that the Trump administration has moved to raise the pressure on Russia to end the war in Ukraine, including sanctions on Rosneft PJSC and Lukoil PJSC. An oil trading firm that’s a unit of Russian oil giant Lukoil is starting to terminate jobs with days to go until sanctions fully kick in.

“The latest round of sanctions appear significant and there’s clear risk to supply,” Toril Bosoni, head of the oil markets division at the International Energy Agency, said in a Bloomberg TV interview.

That, coupled with Ukraine attacks against Moscow’s energy infrastructure, has helped to support fuel prices and offer a support to oil markets otherwise weighed down by oversupply fears.

Overnight, API reported a modest crude build.

Quick reminder that this week’s data won’t include the effect of the US government shutdown on aviation and, therefore, jet fuel demand and inventories. That will come in next week’s data after airlines began curtailing flights on Nov. 7. 

API

• Crude +1.3mm

• Cushing -43k

• Gasoline -1.4mm

• Distillates +944k

DOE

• Crude +6.413mm – biggest build since July

• Cushing -346k

• Gasoline -945k

• Distillates -637k

Crude inventories surged higher for the second week in a row (biggest build since July), modestly offset by small drawdowns for products (down for six straight weeks)…

Source: Bloomberg

The last two weeks have lifted US crude stocks to their highest in five months, but we note on a seasonal basis, it continues to lag recent years…

Source: Bloomberg

US Crude production surged by over 200k b/d last week to a new record high despite the ongoing slide in the rig count…

Source: Bloomberg

WTI is holding on top its modest gains off yesterday’s plunge lows for now…

Source: Bloomberg

The bearish outlook for next year has triggered a key indicator – WTI’s prompt spread – to sink into contango…

Source: Bloomberg

That pricing pattern, with the nearest contracts trading at discounts to further-out ones, signals ample short-term supplies, though it also recovered Thursday.

The optics look awful for Verizon Communications if the Wall Street Journal’s report is accurate: the carrier is preparing for its largest job cuts ever just days before millions of Americans hit the road for Thanksgiving. 

WSJ says Verizon is planning to cut 15,000 jobs. If that figure is correct, Bloomberg’s latest data suggests this would be about 15% of its roughly 100,000-person workforce. WSJ notes this would be the largest workforce reduction on record for the carrier. 

Most of the job reductions will come from direct layoffs, and the carrier will shift 200 corporate stores into franchise operations, removing those employees from Verizon’s payroll. 

For three consecutive quarters, Verizon has been losing postpaid phone subscribers, putting pressure on leadership to stop the hemorrhaging.  

Earlier, Verizon chairman Mark Bertolini told CNBC’s Becky Quick on “Squawk Box” that the company needs to “do something different” as it undergoes its leadership change.

Bertolini said the carrier’s new CEO, ex-PayPal boss Dan Schulman, is working on a turnaround plan after share losses under former CEO Hans Vestberg. 

“Verizon has gone from number one in market cap, bond ratings and market share to number three. And the network isn’t as differentiated as it used to be, in large part because everybody’s been spending money to put these 5G networks in place,” Bertolini said. “So losing 30% share over the last eight years is an issue, and we have to do something different.”

Bertolini added that Schulman will reveal his plan to turn the company around “sooner rather than later.”

Schulman recently pledged to “aggressively transform our culture, our cost structure, and the financial profile of Verizon in order to put our customers first, compete effectively, and deliver sustainable returns for our shareholders.”

Shares of Verizon in New York are up only 4% year to date, after being halved since peaking around $60 a share in late 2021.

T-Mobile appears to be the winner in the ‘carrier wars’… 

Rest assured, AI will drive deeper workforce cuts in the years ahead. Everyone is starting to figure out what we’ve known for years (read here)

Hungarian Prime Minister Viktor Orbán is having a “told you so” moment as Ukraine’s massive corruption scandal which has already taken down the country’s Justice Minister and several other high officials has come to light. The crisis has entered Ukraine’s presidential office, with at least one close Zelensky business associate, Tymur Mindich, having fled the country already, just as the major embezzlement and kickbacks scandal involving the state-owned nuclear power company was made public.

Orban commented on X in a scathing denunciation of Zelensky’s rule that Ukraine has been taken over by a “wartime mafia network” and that “the golden illusion” of an underdog nation heroically resisting the Russians is “falling apart”. The crisis centers ironically on Ukraine’s state-run energy sector at a moment common Ukrainians are suffering amid rolling blackouts and relentless Russian aerial attacks on the power grid.

“A wartime mafia network with countless ties to President Volodymyr Zelensky has been exposed,” stated the Hungarian leader. “The energy minister has already resigned, and the main suspect has fled the country.”

He then unleashed on those Eurocrats who’ve long wagged their finger at Hungary for not stepping up to do more in funding Ukraine. This has simultaneously included years of immense pressure from Western Europe for Hungary to sever its energy dependency on Russian imports, which Orban has at various times warned would sink the economy if done drastically.

Orban in the Thursday X statement blasted this “Madness”:

“This is the chaos into which the Brusselian elite want to pour European taxpayers’ money, where whatever isn’t shot off on the front lines ends up in the pockets of the war mafia. Madness.”

“Thank you, but we want no part of this,” he continued sarcastically. “We will not send the Hungarian people’s money to Ukraine. It can be put to far better use at home: this week alone we doubled foster parents’ allowances and approved the 14th month’s pension.”

The golden illusion of Ukraine is falling apart. A wartime mafia network with countless ties to President @ZelenskyyUa has been exposed. The energy minister has already resigned, and the main suspect has fled the country.

This is the chaos into which the Brusselian elite want to… pic.twitter.com/C1nuQV7HsT

— Orbán Viktor (@PM_ViktorOrban) November 13, 2025

And again, alluding to the ongoing scandal, “Anyhow, after all this, we certainly won’t give in to the Ukrainian president’s financial demands and blackmail. It’s high time Brussels finally understood where their money is really going,” Orban wrote.

Hungary has clashed with Kiev time and again over the years, with at times other European allies stepping in to seek to mediate the delicate relationship. EU leadership has also constantly chastised Orban in particular for thwarting and sabotaging European unity when it comes to collective efforts to support Ukraine and punish Russia.

Authored by Robert Rapier via OilPrice.com,

• OPEC+ raised output to defend market share, signaling a deliberate shift away from price stabilization.

• U.S. shale’s record production and rapid adaptability have weakened OPEC’s traditional pricing control.

• Oil prices now hinge as much on market psychology and expectations as on physical supply and demand.

Contrary to popular belief, oil prices aren’t determined by any one country, company, or cartel. Instead, they’re the product of a global tug-of-war among producers, traders, and policymakers. It’s a market defined not just by physics, but by psychology, where the actions of a few key players can ripple across the world in a matter of hours.

On November 2nd, OPEC+ announced a modest 137,000 barrel-per-day production increase for December, followed by a pause on further increases in the first quarter of 2026. The move surprised many analysts who expected continued restraint. On the surface, boosting supply when prices are already under pressure seems counterintuitive. But this is not a move driven by near-term pricing. It’s a move about market share and about power.

As Morningstar aptly summarized, “defending market share now outweighs defending prices.”

That’s a telling statement, and it signals a familiar shift in strategy among major producers.

We’ve seen this playbook before—in 2014 and again in 2020—when Saudi Arabia and Russia opened the taps to undercut higher-cost rivals, particularly U.S. shale producers. 

Those episodes triggered sharp price declines, but OPEC+ was trying to reassert dominance in a market that had become increasingly influenced by American production growth. The strategy largely failed in 2014 (see OPEC’s Trillion Dollar Miscalculation), but it did squeeze out some overleveraged shale producers. 

The Strategic Logic Behind a Price War

At first glance, it seems self-defeating for OPEC+ to intentionally push prices lower. But history shows that short-term pain can yield long-term control. By tolerating lower prices for a period, OPEC+ can squeeze out marginal producers whose break-even costs are higher. Once those players scale back, the cartel can tighten supply again and reclaim pricing power.

This latest production increase comes at a time when U.S. output is at record levels, surpassing 13.7 million barrels per day. That resurgence reflects the flexibility of American shale—producers can ramp up quickly when prices rise and idle rigs just as fast when prices drop. This “elastic” supply has turned the United States into the de facto swing producer of the world.

However, that elasticity comes at a cost. Unlike OPEC+, which can coordinate cuts through collective agreements, U.S. producers act independently. When dozens of companies all respond to higher prices by drilling more wells, the collective impact is oversupply. The very efficiency that makes shale powerful also makes it self-defeating.

OPEC+ understands this dynamic. By modestly boosting output now, it’s signaling to the market that it won’t easily cede share to U.S. producers, even if that means tolerating prices closer to $75 per barrel rather than the $90 level that many members would prefer.

Beyond Barrels: The Psychology of Pricing

Physical barrels of oil aren’t the only factor at play. Prices are also shaped by expectations. In oil markets, perception moves faster than production.

If traders anticipate a surplus of even 500,000 to 600,000 barrels per day, prices will start adjusting long before those barrels appear. Futures markets incorporate everything from storage levels to exchange rates, creating an intricate web of feedback loops. When economic data points to weaker global demand, traders price that in immediately. Conversely, when a refinery fire breaks out in California or tensions flare in the Strait of Hormuz, prices can change overnight—even if global supply remains unchanged.

This is why oil markets can seem disconnected from fundamentals. They’re not just reflecting today’s balance of supply and demand, but the collective judgment of millions of traders trying to guess tomorrow’s.

The New Normal: Shale vs. the Cartel

Over the past decade, the rise of U.S. shale has permanently altered the energy landscape. Once, OPEC could shift prices with a simple announcement. Now, its influence is constrained by a U.S. industry that can respond more rapidly than any government-directed producer.

But the U.S. isn’t immune to pressure. Shale drilling depends heavily on capital discipline and investor confidence—both of which can erode quickly when oil falls below $70. That gives OPEC+ leverage. The group knows it can afford a period of lower prices longer than many U.S. independents can.

If Brent crude stabilizes in the $75–85 range, that’s a price OPEC+ can live with and one that still supports healthy refining margins for global majors. But if the expected surplus materializes, a slide below $60 isn’t out of the question. That would test the resilience of both producers and policy.

What It Means for Investors and Consumers

For consumers, this tug-of-war shows up at the pump. Gasoline prices generally track crude prices with a lag, so when oil slides, relief eventually filters through—though rarely as fast as it rises. For investors, understanding these dynamics is crucial. Energy stocks are among the most cyclical in the market, and they react more to forward price expectations than current spot prices.

In a world where oil is caught between economic uncertainty, OPEC+ maneuvering, and record U.S. production, volatility is the only constant. The smartest investors are the ones who understand the forces shaping the battlefield.

Oil remains a geopolitical currency as much as a commodity. And as long as both OPEC+ and U.S. shale producers continue to fight for influence, the market will remain what it’s always been: a high-stakes contest of patience, power, and price.

Federal scrutiny of proxy-advisory firms and major index-fund managers intensified this week, following reports that the White House is weighing new measures to rein in their growing influence over corporate America, as well as news that the Federal Trade Commission just launched a preliminary investigation into whether these firms violated U.S. antitrust laws by influencing shareholder votes on politically sensitive issues.

On Tuesday, the Wall Street Journal reported that White House officials are discussing an executive order that would restrict proxy-advisory firms such as Institutional Shareholder Services (ISS) and Glass Lewis from certain shareholder-voting recommendations.

These officials are also exploring measures to curb the voting power of large index fund managers such as BlackRock, Vanguard, and State Street, which collectively hold about 30% or more of U.S stocks. One option is to require fund managers to align their votes with clients who choose to cast their own.

The second report, from Bloomberg on Thursday, states that the FTC has launched a preliminary investigation into whether ISS and/or Glass Lewis violated U.S. antitrust laws by influencing shareholder votes on political issues.

The FTC’s investigation stems from congressional Republicans, who argue these firms wield ungodly power over corporate America.

ISS and Glass Lewis have recommended against Tesla’s proposals time and time again since the 2018 CEO Performance Award was introduced.

It’s a good thing our shareholders ignored those recommendations otherwise they may have missed out on our market capitalization soaring by…

— Tesla (@Tesla) October 20, 2025

Federal scrutiny of proxy advisers and index-fund managers comes after Elon Musk’s recent $1 trillion pay package passed, but there was controversy surrounding ISS and Glass Lewis, which advised shareholders to vote “No.”

On a recent episode of the All-In podcast, Chamath Palihapitiya explained, “ISS and Glass Lewis are completely broken. The way they make decisions is hard to justify. For example, they asked to vote down Ira Ehrenpreis as a Tesla director because he didn’t meet gender components, but then refused to support Kathleen Wilson Thompson, who does. It’s very confusing where ISS and Glass Lewis are coming from.” 

🚨🇺🇸 CHAMATH: ISS AND GLASS LEWIS ARE COMPLETELY BROKEN

“I think that ISS and Glass Lewis are pretty broken.

The way they make decisions is hard to justify.

For example, they asked to vote down Ira Ehrenpreis as a Tesla director because he didn’t meet gender components, but… https://t.co/GexPFUddd3 pic.twitter.com/NWpdfPKJTr

— Mario Nawfal (@MarioNawfal) October 25, 2025

Last month, venture capitalist David Sacks, who is serving as President Trump’s AI and crypto czar, told the folks on the All-In podcast that the woke mind virus that infected corporate America originated with Glass Lewis and ISS through their recommendations on how shareholders should vote on various resolutions. Big index funds usually defer to these firms for voting guidance. 

DAVID SACKS: “For years people have wondered why corporate America went so woke.”@DavidSacks reveals the answer: two powerful firms — Institutional Shareholder Services (ISS) and Glass Lewis — control roughly 97% of all corporate voting.

When they issue a recommendation,… pic.twitter.com/DNeude8sGa

— Woke War Room (@WokeWarRoom) October 30, 2025

The Trump administration is all about defeating the woke Marxists virus, with Defense Secretary Pete Hegseth declaring earlier this week, “Woke is officially DEAD at the Pentagon.” Next comes defeating the woke virus on Wall Street that has only one purpose: to destroy. 

Authored by Larry Goldberg, Managing Partner of Knowledge Partners International, 

Few understand that quite apart from making himself rich, Elon Musk is a job-creating, tax-paying, economy-boosting force. Through his companies – Tesla, SpaceX, xAI, The Boring Company, and Neuralink -Musk has funneled hundreds of billions into American pockets over the past five years (2021-2025). This isn’t abstract Wall Street stuff; it’s real money circulating in communities, from factory floors in Texas to engineering hubs in California. Let’s break it down with hard numbers, showing how Musk’s ventures pump lifeblood into the US economy.

Jobs and Paychecks: Fueling the American Dream

Musk’s companies have paid out a staggering $110.7 billion in salaries over five years—enough to give every person in Los Angeles a $27,000 check. This cash supports over 200,000 workers at peak, from welders building Cybertrucks to coders dreaming up Mars rockets. It’s not just high-flying execs; average pay hovers around $160,000 at Tesla, keeping families housed, kids in school, and local diners buzzing.

These paychecks ripple out: Workers spend on groceries, homes, and vacations, multiplying every dollar into $1.50-$2 in local economic activity, per standard multipliers.

Taxes: Musk’s Companies Foot the Bill

Forget the headlines—Musk’s empire chips in big on taxes. Employees alone shelled out $31.8 billion in income and payroll taxes, funding schools, roads, and Social Security. That’s like bankrolling the entire US space program twice over. On the corporate side, the companies paid $5.2 billion in income taxes, despite savvy credits for green tech and R&D. Add in payroll taxes from employers (~$9 billion), and it’s clear: Musk’s firms aren’t dodging; they’re delivering.

This tax haul supports public services without the sticker shock—imagine if every billionaire’s ventures did the same.

Suppliers: Building America’s Backbone

Musk doesn’t hoard; he spreads the wealth to US suppliers. Tesla alone dropped $166 billion on American vendors for batteries, chips, and steel—propping up factories in Michigan and Nevada. SpaceX, with its “buy American” ethos, added $7 billion, mostly for rocket-grade alloys and avionics from domestic shops. xAI Together, that’s $173 billion funneled to thousands of small and mid-sized firms, creating indirect jobs and steeling supply chains against global hiccups.

In addition to these expenditures, xAI has spent about $9b in the buildout of their data center, with a further $40 – $60b targeted for Colossus 2 over the next two years.

The Big Picture: A $338 Billion Engine—and Counting

Add it up: $110.7 billion in salaries + $46 billion in taxes + $182.2 billion to suppliers = over $338 billion injected into the US economy since 2021. These expenditures are set to soar dramatically in the immediate future as Robotaxis, Optimus and Colossus scale, and could reach over $300b per year. Taking into account the economic multiplier of these expenditures, its like giving the US GDP a turbocharge, all from one visionary’s playbook. Musk’s impact? It creates high-wage jobs, funds public goods, and rebuilds industrial muscle—proving bold innovation pays dividends for everyday Americans.

Critics gripe about risks or headlines, but the math doesn’t lie: Musk’s companies are economic dynamos, turning sci-fi into paystubs. As xAI and Neuralink scale, expect even more. In a world of stagnant wages and offshoring, Elon Musk reminds us: American ingenuity still builds the future—and pays for it too.

*   *   * 

As for this Marxist clown…

🚨 BREAKING – ZOHRAN MAMDANI: “I don’t think that we should have billionaires.”

Oh man…

pic.twitter.com/mM8My038Nu

— Eric Daugherty (@EricLDaugh) June 29, 2025

And if it weren’t for that billionaire (Musk), where would America’s space program, clean energy, EV industry, free speech, and humanoid robotics be today? China would likely be devouring the West by now. Mamdani is in for a rude awakening; his woke, Marxist policies have no place in New York City.