75.2 F
Chicago
Saturday, August 15, 2026
Home Blog Page 90

UBS: TSMC’s ‘Surprise CapEx Hike’ Reinforces Confidence In AI Supply Chain

UBS: TSMC’s ‘Surprise CapEx Hike’ Reinforces Confidence In AI Supply Chain

TSMC, or Taiwan Semiconductor Manufacturing Co., the world’s largest contract chipmaker, raised its 2026 spending and revenue outlook on Thursday morning, a move UBS analysts said “boosts confidence in the AI supply chain.”

TSMC manufactures chips designed by companies such as Nvidia, Apple, AMD, Qualcomm and Broadcom. It is a major supplier of Nvidia chips used in AI data centers. The company now expects 2026 capital expenditures of $60 billion to $64 billion, up from its previous forecast of $52 billion to $56 billion, while projecting dollar-denominated revenue growth of slightly more than 40%.

Here are second quarter results (courtesy of Bloomberg):

  • Net income NT$706.6 billion, estimate NT$623.73 billion
  • Gross margin 67.7%, estimate 67.1%
  • Operating profit NT$766.6 billion, estimate NT$742.75 billion
  • Operating margin 60.3%, estimate 58.6%
  • Sales NT$1.27 trillion, estimate NT$1.27 trillion

Third quarter forecast:

  • Sees sales $44.6 billion to $45.8 billion, estimate $43.11 billion (Bloomberg Consensus)
  • Sees gross margin 65% to 67%, estimate 65.9%
  • Sees operating margin 56% to 58%, estimate 57.7%

AI-related demand continues to be extremely robust,” TSMC Chairman C.C. Wei told analysts on a post-earnings call. 

TSMC also plans to invest another $100 billion in Arizona, lifting that total commitment to $265 billion. The expansion will include additional 2-nanometer chip plants and advanced packaging facilities to meet multi-year demand across the Americas. 

Wei added, “This is to build several or more semiconductor logical wafer fab for two nanometer MP [mass production] technologies, as well as advanced packaging fabs to support the strong multi-year demand from our leading U.S. customers.”

CFO Wendell Huang said, “Our conviction in the AI megatrend is very strong.The capex in the next three years will be even more, significantly higher than in the past three years.”

UBS analyst Crystal Hsu told clients earlier that “TSMC’s Surprise Capex Hike Boosts Confidence In AI Supply Chain.”

Hsu continued:

Despite TSMC’s relatively conservative gross margin outlook for Q2 and Q3, investors generally believe the company prioritizes customer relationships and may smooth margin trends through the second half of the year.

The increase in capex guidance to USD 60–64 bn came as a positive surprise, as TSMC rarely raises capex guidance in Q2 and the magnitude of the revision exceeded 10%. Investors expect a positive read-through for the semiconductor production equipment (SPE) space.

More importantly, TSMC’s constructive commentary could help restore market confidence, as many investors see little change in the underlying fundamentals despite the market pullback over the past month, which appears to have been driven largely by positioning and sentiment rather than by a deterioration in fundamentals.

Shares of TSMC were marginally higher in Asia, closing up a little more than 1%. The stock has gained 59% this year as the AI boom propels chipmakers to new highs. But in recent weeks, the AI trade has hit a brick wall as Goldman warns of rising hyperscaler bond issuance and mounting stress in credit markets.

TSMC’s accelerating expansion comes a day after ASML Holding delivered strong earnings and raised its full-year guidance. ASML produces lithography machines, the equipment that chipmakers such as TSMC use to manufacture advanced semiconductors.

Tyler Durden
Thu, 07/16/2026 – 06:55

Ukraine Intensifies Attacks On Russian Tankers In The Black Sea

Ukraine Intensifies Attacks On Russian Tankers In The Black Sea

By Charles Kennedy of OilPrice.com

After striking 116 vessels linked to Russia’s shadow fleet in the Sea of Azov in recent weeks, Ukraine’s military is turning its sights on ships in the Black Sea, hitting in drone attacks as many as 20 vessels overnight on Wednesday.

Ukrainian forces struck 17 Russia-linked oil tankers, 2 gas carriers, and one tugboat early on July 15, drone unit commander Robert Brovdi said on Telegram today, adding that an official report with video evidence would follow later in the day.

“The first round of the naval battle is over,” the commander wrote, referring to the Sea of Azov, where Ukraine had focused its drone attack efforts in the past few weeks, alongside targeting refineries deep into Russian territory.

“Now, the Black Sea,” Brovdi said, hinting that Ukraine’s campaign to strike oil and gas vessels is expanding to the Black Sea, a key export route for crude and fuels from the south of Russia.

Ukraine has ramped up drone attacks against Russian shipping in the Sea of Azov and Taganrog Bay. Ukrainian officials reported striking 15 vessels in a single overnight operation on July 14, bringing their total to over 105 targeted ships within an eight-day window. These strikes have been targeting tankers and cargo ships suspected of belonging to Russia’s “shadow fleet” or transporting looted Ukrainian grain and fuel supplies.

Russia has also attacked commercial vessels near Odesa. A Tuesday attack killed five seafarers and injured 12 others in one of the deadliest single strikes on commercial shipping since the start of the war. According to Odesa authorities, a Russian drone struck a Togo-flagged general cargo ship while it was unloading fertilizer, sparking a major fire, while the Russian defense ministry claims the strikes were targeting military cargo.

The ramp-up of the naval strikes comes alongside a months-long Ukrainian campaign to hit Russian refineries to cripple fuel supply and deepen the fuel crisis in Russia.

Tyler Durden
Thu, 07/16/2026 – 06:30

G7 Partners Have Low Confidence In President Trump

G7 Partners Have Low Confidence In President Trump

Confidence in U.S. leadership has fluctuated significantly over the past two decades, closely tracking changes in the occupant of the White House.

As Statista’s Felix Richter shows in the following chart, based on data from past and present editions of Pew’s Global Attitudes Survey shows, confidence in President Donald Trump among key U.S. allies has mostly been low, although it has edged up slightly compared to the end of his first term.

Infographic: G7 Partners Have Low Confidence in President Trump | Statista

You will find more infographics at Statista

Interestingly, Trump’s current ratings are broadly in line with those recorded for George W. Bush toward the end of his presidency.

Bush’s low standing in many Western European countries at the time was largely shaped by opposition to the Iraq War and broader concerns about U.S. foreign policy.

By contrast, confidence in U.S. leadership rebounded sharply under Barack Obama, who consistently received high approval ratings across G7 countries.

While views of Joe Biden were also relatively positive, they never reached Obama era highs and deteriorated gradually over time.

Overall, the data highlights how strongly international perceptions of the United States tend to shift with changes in leadership and foreign policy direction.

Tyler Durden
Thu, 07/16/2026 – 05:45

Japan’s Landmark Vote Reclassifies Bitcoin And Crypto As Financial Assets

Japan’s Landmark Vote Reclassifies Bitcoin And Crypto As Financial Assets

Authored by Micah Zimmerman via The Epoch Times,

Japan’s parliament passed an amendment on Wednesday that reclassifies cryptocurrency as a “financial asset,” a shift that pulls bitcoin and other digital assets out of the country’s payments regime and into the framework that governs stocks, bonds, and investment trusts, according to a report from public broadcaster NHK.

The change strips crypto of its prior status under the Payment Services Act, where regulators treated it as a means of settlement, and folds it into the Financial Instruments and Exchange Act (FIEA), the same statute that oversees traditional securities. 

The amendment moves bitcoin and other crypto under a single investor-protection standard. NHK reports the change takes effect within a year, with a target of fiscal 2027.

Japan’s new authority over bitcoin and the crypto asset class

Japan’s cabinet first approved this measure as a draft amendment in April 2026, but that step only sent the bill toward the Diet for debate. Wednesday’s vote marks the final enactment into law, alongside formal approval of a separate plan to cut the top tax rate on crypto gains from 55% to a flat 20% starting in 2028.

The move rewires how Japan supervises the asset class. As financial instruments, crypto assets now fall under insider-trading rules that bar issuers, exchange operators, and other parties with access to non-public information from trading ahead of events such as token listings, delistings, or major technical incidents.

Exchanges face new disclosure obligations. Platforms must publish data on each token’s issuer, blockchain design, and volatility profile, a standard that mirrors the reporting demands placed on securities firms. Regulators also gain broader market-surveillance authority over the sector, according to local reports. 

Penalties climb under the new law. The maximum prison term for unregistered crypto operators rises from three years to 10, while the top fine increases from 3 million yen to 10 million yen, near $62,000. The tougher enforcement signals a move to treat crypto misconduct with the same severity as securities fraud.

A path to bitcoin ETFs and a tax cut

The reclassification carries two consequences that reach beyond compliance.

First, it opens a path for spot bitcoin exchange-traded funds. Because FIEA governs the products that funds can hold, moving crypto under its umbrella removes a structural barrier that kept Japanese asset managers from launching regulated bitcoin ETFs.

Second, it clears the way for a tax overhaul. Japan taxes crypto gains as miscellaneous income at rates that reach 55 percent, among the steepest treatment in any major market. Lawmakers approved a plan to cut the top rate to a flat 20 percent, a level that matches the tax on stock gains. The reduction, tied to the 2026 Tax Reform Outline, activates in 2028.

The reforms arrive as Japan accelerates a broader Web3 push and as regulators weigh reserve requirements for exchanges that resemble the buffers held by securities firms. User accounts on Japanese exchanges have grown, and domestic crypto firms are positioning for a wider base of retail investors.

For an industry that has long viewed Japan as an early and cautious mover, the vote marks a decisive turn toward legitimacy. 

The country that once served as a template for crypto regulation is now aligning digital assets with its capital markets, a decision that could pressure other jurisdictions to follow.

Tyler Durden
Thu, 07/16/2026 – 05:00

Baltic Leaders Claim Moscow Eyeing Wave Of Infrastructure Attacks In Europe

Baltic Leaders Claim Moscow Eyeing Wave Of Infrastructure Attacks In Europe

NATO’s ‘eastern flank’ members are at it again, seeking to hype an imminent Russian threat which they now say will target their critical infrastructure

The presidents of Poland, Lithuanian and Latvia have joined together and issued a dire warning over an impending plot on Wednesday, citing intelligence reports.

“We are talking about energy and transport infrastructure, facilities where damage could… disrupt the functioning of the entire energy system,” Lithuanian President Gitanas Nauseda said at a joint press conference in Vilnius, alongside his Latvian counterpart, Edgars Rinkevics.

“This planning is taking place at the highest level, effectively in Moscow,” Nauseda stated.

And Rinkevics followed by asserting, “Even without a total Ukrainian victory, Russia may indirectly test Article 5 and response mechanisms at the alliance and European Union levels,” he said.

via Latvian Presidency’s office

Kremlin spokesman Dmitry Peskov quickly disputed the allegations that Russia is planning sabotage operations or some kind of invasion of Europe..

“This is just another fresh batch of scare stories designed to keep the brainwashing going and prepare the population for further militarization,” he said.

Baltic governments have especially been warning about a Russian ‘invasion’ in some form or the other going back years into the Ukraine war.

Even lower security officials have chimed in, for example back in 2025, Renatas Požéla, head of Lithuania’s fire and rescue service, warned

“It is possible that we will see a massive army along the Baltic borders with the obvious goal of conquering all three countries within three days to a week.”

In that prior instance he was talking about Estonia, Latvia, and Lithuania. Their leaders and officials have been among the most outspoken anti-Russia hawks throughout the Ukraine conflict.

Moscow has long insisted that it has no intention of invading any EU or NATO member state. Tensions have soared, however, due to somewhat frequent drone incursions into European territory. But the Kremlin has said these are chiefly Ukrainian drones spilling over.

Tyler Durden
Thu, 07/16/2026 – 04:15

You Will Not Believe What’s Happening In This Tiny English Village

You Will Not Believe What’s Happening In This Tiny English Village

Authored by Steve Watson via Modernity News,

Residents of the small leafy Oxfordshire village of Piddington have delivered a thunderous rebuke to Westminster’s latest asylum experiment.

With roughly 180 adults casting ballots on July 4, 175 backed holding a referendum on breaking away from the United Kingdom in protest against plans to house up to 1,250 single adult male asylum seekers at an adjacent former Ministry of Defence Site.

That works out to a 96% yes vote in a community of around 370 people where decisions about their future are being made without them.

The move comes after the Home Office announced in late June it would convert the redundant military storage facility – sitting right between Piddington and Upper Arncott – into basic accommodation for single men aged 18 to 65.

Utility companies have already received instructions to prepare power, water and sewage connections, with work eyed for late August or early September. No detailed public proposal or full impact assessment has been published. Locals say the site was never built for this purpose and sits next to a children’s play area and reserve.

Piddington resident Ian Darby captured the frustration felt by many when he spoke out against the total lack of engagement from officials.

Parish Council Chairman Tim McNally framed the vote as a natural response to being driven into a corner.

“We had an incredible result with almost two-thirds of the village voting, the rest were children, and an acceptance of 96%. It was truly astonishing. Self-determination is what people want whilst they are being ignored and driven into a corner. This is a natural human instinct and reaction. The Principality of Piddington, the village that roared, will put together their council and representatives to empower themselves.”

Local resident Graham Rixon called the scale “completely inappropriate.” “We’re a village of 350 people – there’s another village down the road of even less people, and they’re going to dump 1,200 people here.”

“Most of them probably won’t speak the language, so there’s going to be communication problems, and as far as I know, no help’s been set up for language,” he continued, adding “We haven’t had any detail of how it’s going to work, so if it does go through, it’ll be a mess – inadequate provision has been made. We’re supposed to live in a democracy, and this is just trying to bypass democracy and get it all done before anyone notices.”

Another resident from nearby Arncott, Gwen McEwan, described the prospect as “frightening.” She asked why her village should be penalised while British people wait for housing and noted that local children already pay £300 a term for the bus to school. “If they come here, I won’t be paying any council tax.”

Chairman McNally highlighted the human side: “We have young children, we’ve got elderly people. People actually have the comfort to walk at night through the village without consequence.”

Concerns centre on groups of bored single men potentially roaming near homes and the play area, language barriers, and pressure on already limited rural services in a place over two miles from the nearest shop with no pavement along the B-road.

Liberal Democrat MP Calum Miller for Bicester and Woodstock has called the isolated site unsuitable and demanded ministers pause the plan, publish a full impact assessment, and come to the area to explain themselves directly. He said the decision feels like one taken in secret in Whitehall and imposed on local people treated as an afterthought.

The Home Office maintains the move forms part of closing asylum hotels and shifting claimants into basic ex-military accommodation to end the perception that illegal arrival leads to hotel stays.

It points to falling hotel numbers and reduced overall asylum costs. Critics note the approach simply relocates the same pressures into small communities that never asked for them and lack the infrastructure or policing to absorb sudden demographic change.

This is not an isolated outburst. Across Britain, similar top-down placements of large numbers of single adult male asylum seekers into former military sites or new housing have triggered the same pattern of ignored residents, safety worries for women and children, and strained local resources.

In one case a village of just 150 people faced 121 migrants placed in 21 new-build houses originally meant for social housing, sited next to a children’s playground and primary school. Locals reported teenage girls taking longer routes to avoid the area.

Another former RAF base targeted for up to 1,500 people sat on contaminated ground with no power, water or phone lines initially, requiring massive taxpayer upgrades while the base exit opened onto a resident’s driveway.

The pattern continues in Barnham, Suffolk – a peaceful village of just 600 people now facing plans to house over 1,000 asylum seekers at the nearby disused RAF site. That influx would nearly triple the local population. The base sits only two minutes from a primary school and beside a nature reserve.

Residents report teaching their children basic safety measures such as locking doors and staying quiet. Fencing around the site already has holes that allow easy exit. Public meetings on the plans have been restricted, and critics describe the broader approach as “Operation Scatter” – deliberately dispersing claimants into rural areas with limited facilities and minimal local input.

Watch how the policy has already played out in other small places:

In Crowborough, East Sussex, residents formed a volunteer security patrol after hundreds of single male asylum seekers were moved into a former training camp, creating what locals described as a village within a village.

Women reported carrying personal alarms and taking self-defence classes even in daylight. One volunteer stated the group provided “a visible presence to provide safety and security. We are a deterrent.”

The same town had earlier braced for up to 600 men at the army camp site, with orderly protests drawing thousands and residents installing extra fencing and alarms on peripheral properties. Trust in government evaporated as plans advanced with minimal consultation.

The housing angle runs deeper still. Projections show migrants set to absorb nearly 40% of all new homes built in the UK by 2030 under current net migration trends, even as 1.3 million British households sit on social housing waiting lists.

The policy of clearing hotels by dispersing claimants into rural and suburban sites simply shifts the burden onto native communities already competing for homes, schools and GP appointments.

Piddington’s symbolic independence vote stands as the latest expression of a growing refusal by ordinary Britons to accept being treated as collateral damage in a national experiment they never consented to.

The village that roared on July 4 has drawn its line. Whether Westminster hears it or continues treating rural England as disposable real estate for imported populations remains to be seen. Self-determination, once stirred at the smallest scale, has a habit of spreading.

Your support is crucial in helping us defeat mass censorship. Please consider donating via Locals or check out our unique merch. Follow us on X @ModernityNews.

Tyler Durden
Thu, 07/16/2026 – 03:30

Russia Struggles To Deliver Crude Oil As It Hits 135 Million Barrel Traffic Jam

Russia Struggles To Deliver Crude Oil As It Hits 135 Million Barrel Traffic Jam

Russia is struggling to deliver all of the crude it’s being forced to ship overseas in the face of escalating Ukrainian drone strikes on its refineries.

Nearly 135 million barrels of Russian crude oil are currently stranded at sea as a result of Ukraine’s airstrike campaign targeting refineries with the intent to cripple crude processing. The offshore backlog is forcing Moscow to significantly ramp up export volumes according to OilPrice.com.

Intensive Ukrainian drone strikes, including recent hits on the Gazprom Neftekhim Salavat and Afipsky processing facilities, have knocked out roughly one-third of Russian domestic refining capacity bringing it to ~3.91 million barrels per day, the lowest level seen since 2005.

As a result, Moscow is now being forced to divert more barrels to international markets despite the country pumping just 8.93 million barrels a day in June–roughly 830,000 b/d below its OPEC+ quota.

However, major export hubs are experiencing massive gridlock with limited buyers of sanctioned Russian crude, with Sokol and Sakhalin Blend cargoes facing week-long delays transferring from shuttle tankers to ocean-going vessels, while ESPO crude is piling up near the Kozmino terminal.

Russia’s shadow fleet tankers are now accumulating near Egypt’s Mediterranean coast and Indonesia’s Riau Islands. Many are masking destinations or sitting idle because international buyers increasingly refuse to touch sanctioned cargo due to secondary penalties.

Russia’s oil revenues are shrinking despite high export volumes due to a combination of lower global crude prices, widening discounts for Russian Urals and delivery delays.

Russia’s seaborne crude exports averaged 4.13 million barrels per day during the four weeks through June 28, the highest four-week rate since early 2022.

However, Russia’s four-week crude export revenues fell by about $200 million to $1.68 billion a week as Urals prices retreated sharply from their Iran-war highs. China and India accounted for roughly 1.8 million barrels per day of identified purchases, while Turkey and Syria imported about 160,000 bpd and 40,000 bpd, respectively, according to Bloomberg data. Another 1.9 million bpd was listed as “unknown destination” in Bloomberg’s tanker-tracking data, suggesting the final buyers were not disclosed while the cargoes remained in transit.

Tyler Durden
Thu, 07/16/2026 – 02:45

“Free Speech Has Its Limits”, Rules Czech Supreme Court

“Free Speech Has Its Limits”, Rules Czech Supreme Court

Via Remix News,

The Czech Supreme Court has upheld a suspended prison sentence imposed on a former dissident who publicly wore clothing displaying symbols associated with Russia’s invasion of Ukraine.

According to Echo24, botanist Pavel Křivka walked through Pardubice in April 2024 wearing a black sweatshirt bearing a large white letter ‘Z’ and the Russian words “For Victory.”

Lower courts convicted him of publicly approving a crime against peace and sentenced him to six months in prison, suspended for two years. An appeal to the Supreme Court has now been rejected.

“Freedom of expression is one of the fundamental rights of a democratic society, but it has its limits,” court spokeswoman Gabriela Tomíčková said.

“According to the Supreme Court, public support or approval of the most serious international crimes exceeds the limits of expression which is entitled to full constitutional protection,” she added.

The court said a person does not need to make a speech or explicitly attempt to persuade others to commit an offense. Publicly displaying symbols can itself constitute a crime when their meaning is sufficiently clear.

Judges also rejected Křivka’s argument that the Z symbol does not appear on an official list of prohibited imagery. They ruled that its meaning must be assessed in context and said the combination of the letter Z and the “For Victory” slogan could not reasonably be interpreted as anything other than support for Russian aggression.

The court said Křivka’s education and experience in public and political life meant he would have understood the symbolism. He had also repeatedly expressed opinions on Russia and Ukraine.

Prosecutors described the hoodie as “warmonger clothing” and argued that Křivka intended to stir hostility toward Ukraine and Ukrainians. His lawyer maintained that wearing clothing he liked was not illegal.

The letter Z first appeared on Russian military vehicles during the February 2022 invasion before becoming a wider propaganda symbol used at rallies, on billboards, on clothing and across Russian social media.

Křivka had previously criticized the rulings of the lower Czech courts. “I did not commit any propaganda for war or genocide or anything like that. I walked down the street in standard clothes, clothes that I bought in China when I was there to teach Czech. We have much more freedom in China than in the Czech Republic,” he said in February, as cited by Novinky.cz.

Read more here…

Tyler Durden
Thu, 07/16/2026 – 02:00

All Socialists Are Ignorant, But Some Are More Ignorant Than Others…

All Socialists Are Ignorant, But Some Are More Ignorant Than Others…

Authored by Lloyd Billingsley via AmericanThinker.com,

In The Law, published in 1850, Frédéric Bastiat made a case against “legal plunder,” the perversion of the law to violate liberty and property rights.

Nearly 100 years later in The Road to Serfdom, Friedrich Hayek warned that socialists, whatever their intentions, lacked the knowledge to command the economy.

Hayek also explained how the worst always get on top in socialist regimes, and after the German National Socialists’ Anschluss in 1938, he did not return to his native Austria. In 1983, President Reagan brought Hayek to the White House, and in 1991 President George H.W. Bush awarded Hayek the Presidential Medal of Freedom.

Nobel laureate Milton Friedman authored Capitalism and Freedom and became a national figure with the “Free to Choose” series on PBS. 

Basic Economics by Thomas Sowell also upheld the virtues of the market over government command of the economy.

Those now proudly calling themselves “democratic socialists” seem unaware of these authors and show little if any inclination to engage in debate.

The surging socialists are even more unaware of works that show socialism as it actually existed under its most enthusiastic promoters. Consider, for example, the experience of Malcolm Muggeridge. His magisterial Chronicles of Wasted Time (1972) devotes a chapter to “A Socialist Upbringing.” The Muggeridge household jostled with politicians, scholars, and clergy dedicated to the cause, along with Labor Party stalwarts such as Ramsey MacDonald and Fabian socialists Sidney and Beatrice Webb. Their collective efforts aimed to benefit “the workers,” who were never present at any of their events.

“A worker is someone for whom everything is done as long as he keeps off stage,” Muggeridge noted, and “the whole notion of a working class with a specific political or cultural, or even spiritual role qua working class is a fantasy invented by guilt-stricken renegade proletarians like D.H. Lawrence, or by renegade bourgeoisie on the run like William Morris or, for that matter, Marx and Engels themselves, or just by a sociologist looking for a subject and a job.”

After stints teaching in India and Egypt, Muggeridge wound up in the first “workers’ state,” the Union of Soviet Socialist Republics (USSR), as the Moscow correspondent of the Manchester Guardian. Correspondents ran contests to see who could pass off the most fatuous story to the regime’s foreign admirers. Muggeridge convinced Lord Marley that the long lines for everything were intended to give zealous workers a chance to rest. When a British lawyer asked if the Soviets practiced habeas corpus, A.T. Cholerton of the Daily Telegraph told him they strictly adhered to habeas cadaver.

Stalin’s collectivization of agriculture claimed more than a million victims in Ukraine, but Walter Duranty of the New York Times contended that there was no forced famine there. Muggeridge decided to see for himself. “This particular famine was planned and deliberate, not due to any natural catastrophe like failure of rain, or cyclone, or flooding,” he wrote. “There is not only a famine but a state of war, a military occupation… Peasants with their hands tied behind their back being loaded into cattle-trucks at gunpoint.” After breaking this story, Muggeridge was widely vilified while Duranty’s mendacious reports won a Pulitzer Prize.

In August, 1939, Stalin signed a pact with Hitler’s Germany. “I had been expecting such a development,” Muggeridge wrote, “never losing an opportunity to say that Bolshevism and National Socialism were the same thing, except that one was a Slav version and the other Teutonic.” Margarete Buber-Neumann described that reality in Under Two Dictators: Prisoner of Stalin and Hitler.

The Potsdam native married Heinz Neumann, a rising star in the German Communist Party (KDP). The Communist International (Comintern) sent the couple on various assignments before bringing them to Moscow during Stalin’s purge campaign. Heinz Neumann was tried and executed the same day with no word to Margarete. She soon found herself in the Lubianka prison before being sentenced to five years in the corrective labor camps then holding 1.3 million prisoners.

In the vast Karaganda complex, Buber-Neumann was forced to perform “a certain labor quota” in the fields. “We were always hungry,” the prisoner wrote, and field workers were in the “fourth and worst category” when it came to food. In these conditions, Zena, a Gypsy girl, is told she should go to school and learn about socialism.“I don’t like it!” Zena shoots back “You can go and **** your mother with your socialism! I’m a free Gypsy.”

Preyed on by criminals, who were very cozy with camp bosses, Margarete manages to survive. During the Stalin-Hitler Pact, the secret police (GPU) changed her sentence to removal from the Soviet Union.

In early 1940 the Soviets put the prisoner of Stalin on a train headed for the Brest-Litovsk bridge into occupied Poland. There GPU men and SS officers jointly check the list of names. The prisoners were then “sent on in cattle trucks to Bialas” and “marched through the streets under SS guard.” Then it was on to Ravensbrück, the National Socialists’ largest concentration camp for women. In Under Two Dictators, Buber-Neumann describes the forced labor, torture, and executions in exacting detail.

“Historians have long regarded it as a standard work on Nazi camps and the Gulag,” notes professor Nikolaus Wachsman in his introduction. “But among a general readership in the English-speaking world, the book is virtually unknown.”

The fearful symmetry of German National Socialism and Soviet Communism doubtless caused journalists, academics and politicians deliberately to ignore the book.

Add these works to those of George Orwell, whose 1984 portrayed the totalitarian world of Ingsoc (English Socialism). In Orwell’s Animal Farm, the revolutionary victors proclaim that all animals are equal — but some more equal than others. In 2026 safe to say, all socialists are ignorant, but some more ignorant than others — and willfully so.

Arthur Koestler took note of Buber-Neumann’s experience in his contribution to The God That Failed, published in 1949. In Arrow in the Blue (1952) Koestler explained, “The well-meaning ‘progressives of the Left’ persist in following their old, outworn concepts. As if under the spell of a destructive compulsion, they must repeat every single error of the past. One can only watch in horror and despair, for this time there will be no pardon.”

Those who value their liberty must decide how that applies moving forward.

Tyler Durden
Wed, 07/15/2026 – 23:25

“Sub-Second Detect- To-Fire”: Futuristic Dome Turret Could Be US Military’s Answer To Drone Swarms

“Sub-Second Detect- To-Fire”: Futuristic Dome Turret Could Be US Military’s Answer To Drone Swarms

Picket Defense Systems is developing a next-generation counter-drone turret designed to eliminate the delays conventional systems face when targeting fast-moving, one-way attack drones or incoming swarms. This is a major vulnerability confronting the US military and allied forces as drone threats proliferate across modern battlefields that Picket plans to solve.

Its Inferno RTC uses a 54-barrel hemispherical array that continuously maintains 360-degree coverage, allowing the turret to select and fire the optimal barrel without needing to rotate and lock onto the target first.

Fixed multi-barrel hemispherical array — no slewing delay. Sub-second detect- to-fire. No dead zones, no blind spots, no reaction time,” Picket wrote in a slide deck.

Defense Blog recently explained why Picket’s 54-barrel hemispherical array could represent the next evolution in turret design for defeating fast-moving drone swarms:

The aiming latency problem the Inferno is designed to solve is one of the most technically challenging aspects of close-in drone defense, and it has become increasingly urgent as adversaries have adopted tactics specifically designed to exploit it.

Conventional counter-drone gun systems, whether mounted on vehicles or fixed at a site, must physically slew a barrel to point at an incoming threat before firing, a process that takes measurable time even on fast-actuating electromechanical systems. Against a single drone approaching at moderate speed, that delay is manageable.

Against a coordinated swarm of fast-moving targets approaching from multiple directions simultaneously, it creates engagement sequencing problems that single-barrel systems have no mechanical solution for.

The Inferno’s continuously rotating architecture eliminates that sequencing problem by having a barrel already in approximately the right position for any threat vector at any moment.

Picket appears to be targeting the civilian counter-drone market with a dual-use turret designed for critical infrastructure, data centers, energy facilities, airports, stadiums, and commercial ports.

Our late-January note, titled “Explosion in AI Data Center Buildouts Will Demand Next-Gen Counter-Drone Security,” revealed a shocking reality that many high-value assets around the world remain largely vulnerable to low-cost kamikaze drones.

About a month later, we published a report that showed the first-ever data center in the world was hit by an Iranian attack drone in the Gulf region. This was a major wake-up call for the US, hyperscalers, militaries, and other governments that are now racing to harden airspace against these small but deadly threats.

Related:

What we suspect is coming down the pipe is a procurement supercycle for drone and counter-drone systems, which we believe is already in the early chapters and will accelerate in 2027. How to profit.

Tyler Durden
Wed, 07/15/2026 – 23:00