84.8 F
Chicago
Friday, September 4, 2026
Home Blog Page 940

ECB Keeps Rate Unchanged As Expected

0
ECB Keeps Rate Unchanged As Expected

As widely expected (and previewed), the ECB held rates unchanged (they key deposit rate remained at 2%, the refinancing rate was unch at 2.15%, and the marginal lending facility stayed at 2.4%) and also kept its guidance, unchanged as well. In what was a carbon copy of its previous statement, the ECB said it was not pre-committing to a particular policy path; said  inflation remained close to its target; and said future decision would be based on risks to inflation outlook.

Here are the highlights from the statement on the Economy…

  • Economy has continued to grow despite challenging global environment.
  • Robust labor market, solid private sector balance sheets and ECBs past interest rate cuts remain important source of resilience.
  • Outlook still uncertain due to global trade and geopolitics.

And on Policy

  • ECB not pre-committing to a particular rate path.
  • Will follow data dependent and meeting-by-meeting approach to determine appropriate monetary policy stance

The statement was rather optimistic on growth, although it highlights persistent uncertainty:

The economy has continued to grow despite the challenging global environment. The robust labor market, solid private sector balance sheets and the Governing Council’s past interest rate cuts remain important sources of resilience. However, the outlook is still uncertain, owing particularly to ongoing global trade disputes and geopolitical tensions.”

Ahead of the ECB announcement, the latest data showed that Q3 GDP for the euroarea had come in at 0.2%, just fractionally above expectations. 

While the meeting was down the center, some like Oliver Rakau at Oxford Economics sense the doves starting to make a push ahead of the December meeting.

And here’s the reaction from Mark Wall, chief European economist at Deutsche Bank:

“Where’s the smoking gun for a rate cut? Despite the US tariffs, despite all the various sources of uncertainty, the European economy continues to eke out some growth. Economic ‘resilience’ is keeping the ECB doves in check, and the policy pause on the rails.”

In kneejerk reaction, the EURUSD – which had been sliding all day – staged a modest rebound from session lows.

Tyler Durden
Thu, 10/30/2025 – 09:36

Carvana Shares Plunge Nearly 10% Despite Strong Headline Earnings

0
Carvana Shares Plunge Nearly 10% Despite Strong Headline Earnings

Carvana shares are down almost 10% this morning even as the online used-car retailer delivered another quarter of impressive looking headline results, highlighting growing skepticism that its financial rebound may be outpacing the realities of a shaky auto market.

Revenue jumped to $5.65 billion from $3.66 billion a year earlier, powered by a 44% increase in retail units sold to 155,941, according to Bloomberg. Net income rose to $263 million, or $1.03 per share, compared with $148 million, or 64 cents, a year ago. Adjusted earnings hit $1.50 per share, well ahead of expectations, while adjusted EBITDA climbed to $637 million. The company projected fourth-quarter retail unit sales above 150,000 vehicles.

CEO Ernie Garcia celebrated the scale of the recovery, telling shareholders: “Not only is this growth happening at the same time we are producing margins higher than have ever been reported by any other automotive retailer, but it is also happening at a very significant scale.”

It’s a claim the market now seems to be skeptical of.

Beneath that demand, the auto sector is showing cracks. A major parts supplier (First Brands) and a subprime auto lender (Tricolor) recently failed, while delinquencies on auto loans — particularly among younger buyers — are rising fast. Auto loan delinquencies in 2025 have surged to historic levels, driven by higher vehicle prices, interest rates, and overall affordability issues for consumers. 

Analysts warn that lower-income consumers are under growing strain. “There has been nothing but bad news recently on the auto sector when it comes to the low-end consumer,” Matt Maley, chief market strategist at Miller Tabak, told Bloomberg

Carvana’s soaring valuation has also drawn scrutiny. The stock has jumped 78% this year and trades at roughly 53 times earnings, a multiple more in line with Silicon Valley high-flyers than with traditional auto dealers. That leaves little room for disappointment. “Any stumble in guidance, and momentum traders could hit reverse just as fast as they hit the gas,” said Dave Mazza, chief executive of Roundhill Financial.

On top of that, short sellers have accused the company in recent years of aggressive accounting, cutting corners on title transfers, and relying on financing practices that could backfire in a downturn. While the company has denied wrongdoing and tightened procedures, critics argue the rapid expansion masked deeper structural risks.

Other controversy has followed Carvana since its pandemic-era surge. After becoming a meme-stock favorite, shares crashed 98% in 2022 when losses mounted and debt worries ballooned. The current rebound has been fueled by cost-cutting, slower inventory growth, and a massive debt restructuring — moves that bought time but did not erase long-term questions about sustainability.

Meanwhile, the company’s CEO and his father have sold billions of dollars in Carvana stock. 

The company’s pitch is that online scale and logistics efficiency can eventually outclass brick-and-mortar rivals such as CarMax and Lithia Motors. Yet critics argue the business remains capital-intensive — requiring costly facilities, fleets, and reconditioning centers — despite its tech-driven image. As Karobaar Capital’s Haris Khurshid put it: “It’s basically a capital intensive retailer wearing a tech premium.”

Tyler Durden
Thu, 10/30/2025 – 09:20

Senate GOP And Democrats Working On Shutdown ‘Off-Ramp’ For Next Week

0
Senate GOP And Democrats Working On Shutdown ‘Off-Ramp’ For Next Week

With the government shutdown firmly in its fourth week and SNAP beneficiaries threatening cannibalism (see below), Senate Republicans and Democrats are working behind the scenes on a proposal to reopen the government next week – with centrist Democrats arguing behind the scenes that their party has successfully highlighted soaring healthcare costs. 

Senate Majority Leader John Thune (D-SD)

Democrats say the higher costs are now set in stone due to Republicans’ refusal to negotiate a deal to extend Biden-era subsidies that are set to expire – in yet another example of anything that’s supposed to be ‘temporary’ becoming a new goalpost (*cough gerrymandering cough*). 

My assessment is that we’ve won anything that we can possibly win and the costs of continuing the shutdown are going to be felt by people who are going to food banks and federal employees,” one Democratic senator told The Hill, who argued that any political benefit to extending the shutdown is about to be outweighed by the chaos that’s about to be unleashed if SNAP benefits end for 42 million Americans.

Some Democratic senators are privately speculating that if their party does well in the gubernatorial elections in New Jersey and Virginia scheduled for Tuesday, they can declare a political victory and begin to finalize the endgame for reopening government.

Virginia, which will be a Senate battleground in 2026, is home to approximately 140,000 federal employees.

And of course, the largest federal employee union, the American Federation of Government Employees – which represents 820,000 federal and DC government workers – sided with the Republican plan to pass a clean (pork-free) resolution to kick the can and reopen the government – with union president Everett Kelley saying in a Monday statement that “both parties have made their point,” and that it’s time to “end this shutdown today.” 

On Wednesday, Senate Majority Leader John Thune (D-SD) told reporters that moderate Democrats are looking for an “off-ramp” for the shutdown, and he’s willing to talk about extending the ACA subsidies after the government has reopened – and has even offered them a vote on their own proposal to extend the tax credits beyond December. 

That said, he won’t negotiate specific ACA concessions with Democrats while the government remains closed.

“It’s just a question of whether or not they are at some point willing to take ‘yes’ for an answer,” Thune said of moderate Democrats – however he’s only going to offer them existing Republican proposals – such as getting the appropriations back on track, voting on the expiring subsidies, and committing to further the discussion on healthcare once the federal government is back up and running.

“The stakes are getting higher, which we knew they would. As the shutdown drags on, it becomes more painful for more people,” said Thune. 

“What I’ve told them all along is as soon as they’re ready to open up the government that we will ensure that they have a process whereby they can have their chance to get their legislation voted on, their policies voted on,” he said of his discussions with Senate Democratic colleagues. “They’ve become more interested and I hope that continues.”

“They’re looking for an off-ramp,” he continued, noting that the expiration of SNAP benefits is creating a sense of urgency

Sen. Lisa Murkowski (R-AK) – pictured below getting badgered by Dianne Feinstein a few years ago…

…said that bipartisan talks to end the shutdown have picked up steam given the approaching SNAP-mageddon.

“There is a good group of folks who realize we are well past time to have this behind us. This is not good. This is not good from a governance perspective. This doesn’t reflect well on anybody and it is hurting real people [in] real time so let’s figure out a way to end it,” she said, noting that the disagreements that need to be solved have been discussed at length. 

“There have been enough of these pieces that have been talked through that if somebody can just diagram out how it all comes together and present, yes, I do think it’s possible” to end the shutdown next week, she told reporters.

“There’s no great magic in how we get out of this. It’s the same stuff we’ve been talking about for months,” she continued. 

And if they don’t fix this, they’re gonna be eating more than the dogs and cats…

Tyler Durden
Thu, 10/30/2025 – 09:00

7 Powerful Strategies From The Great Philosophers For A Better Life

0
7 Powerful Strategies From The Great Philosophers For A Better Life

Authored by Jonathan Millimore via The Epoch Times,

Fifteen years ago, I lost a job.

The timing was bad. My wife and I had just purchased our first home, and we were expecting our first child.

As editor of a small publication, I had refused to spike a story we were set to publish (it involved questionable political dealings of a prominent politician). Spiking the story would have been easy, but I couldn’t bring myself to do it. It felt wrong. So I prepared a resignation letter, hoping it wouldn’t come to that. (It did.)

Losing one’s job is rarely a satisfying occasion. But for me, it was. For one, the move turned out to be very good for me professionally. More importantly, I had stood for something. This made me proud—after the sting wore off.

1. Do the Right Thing

Though I didn’t realize it at the time, the episode was pivotal in my character development. The great Roman thinker Cicero believed that doing the right thing in the face of consequences is an essential part of virtue.

“He who sacrifices his duty to expediency is like one who cuts down the ship’s mast to escape a storm,” Cicero (106–43 B.C.) wrote in “On Duties.” “He is saved for the moment, but shipwrecked forever.”

The moral is simple: On important things, stand firm on principle, even if it costs you.

Here are six more strategies from great philosophers that can help you build a better life.

2. Rule Your Inner Life, Not Other People

Plato (428–347 B.C.) once said that the “first and greatest victory is to conquer yourself.” The Greek philosopher said it was the most “shameful and vile” of things to allow your inner desires to rule you.

Epictetus, writing 500 years later, urged people to focus energy inward. He believed happiness comes from moderating desires and choosing pleasures that are not enslaving. He wisely saw this as a path to freedom, both inward and outward. After all, a person who commands himself cannot be easily commanded by others.

Many people today focus their energy on trying to fix the world while neglecting their own inner life. This is folly. Conquer yourself first. Just remember, it’s not as easy as it sounds.

C.S. Lewis wrote in “Mere Christianity”: “No man knows how bad he is till he has tried very hard to be good.”

A woman meditates in Kyiv, Ukraine, on Nov. 7, 2023. Oleksii Pidsosonnyi/The Epoch Times

3. Value Work and Take Pleasure In It

Many postmodern thinkers see work as degrading, coercive, and alienating.

That’s not just a bleak view of work—it’s a false one. Many of us have experienced not just the material fruits of work (a paycheck) but the less tangible fulfillment it offers. As a young man, I worked as a waiter, a roofer, and a garbage collector—jobs some call demeaning or “exploitative.” I don’t want to romanticize those jobs—they were hard—but I gained more than money from each of them. Work, with the proper mindset, is one of the surest paths to self-improvement. It is also part of human nature, when done freely.

“It is the natural desire of every man to better his condition when he is secure of enjoying the fruits of his own labour,” philosopher Adam Smith observed in “The Wealth of Nations.”

Smith saw the dignity and independence that work offers. Creating value builds both character and community, and it is one of the truest expressions of human liberty.

A waiter works at a restaurant in Tijuana, Mexico, on July 5, 2024. Guillermo Arias/AFP via Getty Images

4. Pursue Your Own Happiness

Oscar Wilde once observed, “Unselfishness is letting other people’s lives alone, not interfering with them.”

The quote puts the individual in his proper place and reminds us of something important: You are the one in charge of your life. Not the tribe. Not the state. In a free society, individuals decide what they want and value. This is not “selfishness.” It’s a social good. The philosopher John Stuart Mill observed that society flourishes when people are free to choose their own actions and pursue their own dreams.

“In proportion to the development of his individuality, each person becomes more valuable to himself, and is therefore capable of being more valuable to others,” Mill wrote in “On Liberty.”

Choosing one’s own path—“the pursuit of happiness,” in Thomas Jefferson’s immortal words—is central to human dignity and flourishing. Don’t let anyone choose yours, but choose wisely and accept the responsibility that comes with that freedom.

5. Cultivate Virtue as a Habit (Especially Humility)

Aristotle believed that virtue was not something rulers could impose. In fact, virtue requires choice. He also said virtue is demonstrated and developed by our actions.

“We become just by doing just acts, temperate by doing temperate acts, brave by doing brave acts,” the philosopher wrote in “Nicomachean Ethics.”

There’s a lot of confusion over virtue today. Many would have you think that your beliefs make you a virtuous person. Nonsense. Virtue is attained. We become virtuous not through belief but through practice. So dedicate yourself to the four cardinal virtues—prudence, justice, fortitude, and temperance—and don’t forget to include humility, which Saint Augustine called “the foundation of all the other virtues.”

6. Face Death to Live Fully

The Roman philosopher Seneca (4 B.C.–A.D. 65) once said that the tragedy of life isn’t that it’s short, “but that we waste much of it. … So we must prepare for death every day.”

The words might sound macabre, but this is good advice. It’s easy to forget, but death is part of life. We don’t just lose loved ones along our way; we, too, will depart this earth. Writing in the journal First Things, filmmaker Caylan Ford said facing this reality comes with benefits.

“Awareness of death humbles us in our vanity, our hubris, and our contempt for others, and it dispels any illusions that we are in control of our fates,” she wrote.

Like many Greek thinkers, Roman Emperor Marcus Aurelius believed it was irrational to fear death, which was the most natural of all things. Plato, meanwhile, tells us that Socrates went to his grave cheerfully despite his unjust death sentence.

“I think that a man who has truly spent his life in philosophy is probably right to be of good cheer in the face of death,” Socrates says in Plato’s “Phaedo.”

By facing death and accepting mortality, you learn how to live more fully—and more wisely.

Budimir Jevtic/Shutterstock

7. Wake Up Right

My pastor says the first thing he does in the morning is get on his knees and pray. It’s a habit I’ve tried to adopt, but with little success. I share the anecdote for a reason: Everyone has heard the idiom about “getting up on the wrong side of the bed.” It turns out that how (and when) we get out of bed matters.

It’s a cliché, but getting up early is important. There are clear benefits to rising early, including lower risk of depression. But how we get up matters almost as much as when. Marcus Aurelius thought it was so important that he prepared himself daily.

“When you wake up in the morning, tell yourself: The people I deal with today will be meddling ungrateful, arrogant, dishonest, jealous, and surly. They are like this because they can’t tell good from evil,” he wrote in “Meditations.”

Humans need sleep, but having the discipline to rise each morning and devote yourself—in mind and spirit—is important. As a father of three, I can attest that being present in the morning with one’s children—making them breakfast, getting them dressed, having them prepared for their day—is essential for a functioning family.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden
Thu, 10/30/2025 – 05:45

EU’s Former Border Chief Said Commissioner Pressured Him To Embrace Open Borders

0
EU’s Former Border Chief Said Commissioner Pressured Him To Embrace Open Borders

Via Remix News,

Former Frontex chief and National Rally MEP Fabrice Leggeri has spoken about how the European Union elite exerted immense pressure on him when he tried to defend EU borders against mass migration, including a key commissioner who claimed it was his job to “welcome migrants.”

The Frontex Fundamental Rights Office has gradually expanded significantly.

In 2020 and 2021, Leggeri became the target of political attacks from the European Commission, led by Commissioner Ylva Johansson of the socialist Swedish Workers’ Party.

“When I looked through her CV before our first meeting, I thought: ‘She’s probably impossible to work with.’ But she was a commissioner and had real influence,” said the Frenchman. “[…] At our first meeting, I explained to her what we were doing – developing a European border and coast guard, with uniforms and weapons, and why we were experiencing some delays. She interrupted me and said: ‘You don’t need weapons and uniforms.’ Because, as she said, the role of the border guard is to welcome migrants,” Leggeri reported. 

He also said that Johansson threatened him twice, telling him: “Like it or not, your job is to welcome migrants.”

Leggeri was subjected to pressure for attempting to fulfill Frontex’s mandate – supporting member states in managing the EU’s external borders and combating cross-border crime, including illegal migration. 

The MEP, now a member of the Patriots for Europe group, shared the details with Ewa Zajączkowska-Hernik, a member of the Confederation’s European Parliament, according to the Do Rzezcy news portal.

Leggeri explained that initially, the European Commission showed some support for Frontex’s actions, but at the same time, it was increasingly pressured by the proliferation of pro-immigration NGOs. 

Their “activists,” calling themselves “defenders of fundamental rights,” gradually attempted to “advise” and “consult” Frontex against counteracting the influx of illegal migrants. They recommended, for example, busing illegal immigrants from the Belarusian-Lithuanian border to Lithuania and Poland. 

Therefore, Leggeri advised the Polish authorities against using Frontex’s assistance.

“It was October 2019. That’s when I felt real pressure, political hostility towards the very idea of ​​border management. Previously, the idea was to create a kind of European border guard to support national border services. But from the moment Johansson arrived, various organized actions began against me and Frontex itself,” Leggeri said. He added that George Soros’ Open Society Foundation and some left-wing media outlets were involved.

As he explained, Johansson and Soros’ operatives worked to take over Frontex from within and reinforce left-wing NGO activists who would ensure the entry of illegal migrants into European countries. The idea was to create a command structure parallel to that of the member states, in order to paralyze border defenses against illegal aliens. This selected staff, so-called “fundamental rights controllers” and “independent officers,” went into the field, including to Lithuania, and began intimidating member states’ border guards by claiming that the orders issued by their superiors were allegedly illegal.

Read more here…

Tyler Durden
Thu, 10/30/2025 – 05:00

Where The World Eats The Most (And Least) Meat

0
Where The World Eats The Most (And Least) Meat

Which countries eat the most meat?

As Statista’s Katharina Buchholz details below, according to UN Food and Agriculture Organization data reported by website World Population Review, the United States, Argentina and Australia are in the top of the global meat-eating league with more than 110 kg consumed per capita in 2022.

Infographic: Where the World Eats the Most & Least Meat | Statista

You will find more infographics at Statista

Countries which top 100 kg of meat consumed per person and year also include Mongolia, Spain and Israel.

While wealthier countries tend to eat more meat, the status of meat in local cuisine also plays a major role in consumption patterns.

The least meat in the world is eaten in Africa as well as in South Asia – due to meat being unaffordable for many in the regions, cultural factors or a mix of both.

While India posted no data for 2022, it was also among those consuming the least meat in previous years, together with Burundi, the Democratic Republic of the Congo and Bangladesh.

The economic and supply struggles in conflict regions are also visible on the map, with very little meat consumed in Syria and Yemen. This also applies to North Korea.

Studies, like this landmark release by Nature in 2018, have found that Western countries would have to reduce their meat intake by 90 percent to limit climate change to acceptable levels.

To ensure that nutritional needs continue to be met with reduced meat production, the survey recommends increasing the consumption of beans and other pulses to create a climate-friendly protein supply.

Good luck with that!

Tyler Durden
Thu, 10/30/2025 – 04:15

Ukraine Will Receive $2 Billion More In US Weapons In Coming Months

0
Ukraine Will Receive $2 Billion More In US Weapons In Coming Months

Via The Libertarian Institute

The US Ambassador to the North Atlantic Alliance urged Russia to end the war in Ukraine, claiming that President Donald Trump has “more cards to play.” Amb. Matthew Whitaker said Trump could impose new sanctions on Russia, and $2 billion in US weapons would arrive in Ukraine in the coming months

“Right now, we have set up a system where the commitments kind of are rolling forward. You know, we have probably another $2 billion or more to bring in the next several months,” Whitaker told Bloomberg TV on Tuesday. “And we fully expect that that will be done here very soon. We have a foreign ministers meeting at the beginning of December, which will most likely kind of top that off.”

Source: US Mission to NATO

He continued, “And then, as we get into 2026 the key is sustainment. The key is the $12 or $15 billion that are that are needed to buy the critical armaments needed by Ukraine to defend themselves and to continue this fight at the front line is going to be raised. It’s going to be US weapons.”

The $12 to $15 billion that Whitaker said the West could provide to Ukraine next year is a small fraction of what Kiev says it will need to wage the war.

“The cost of this war as of now is a challenge for us. The price of one year is $120 billion. Sixty billion comes from the Ukrainian budget. And I need to find 60 [billion] for next year,” Ukrainian President Volodymyr Zelensky explained in September.

The US Ambassador to NATO also touted the recent sanctions Trump slapped on Russia’s two largest oil companies. He suggested the President could add more sanctions or increase military support for Ukraine in the future.

“President Trump holds all the cards; this is just one card that he’s playing. There are many more,” Whitaker said. 

In a separate interview with Fox News, the American ambassador claimed Russia is weak and should end the war as soon as possible. “The Russians should end this senseless war as soon as they possibly can – it’s not going to get better for them. Trump’s going to continue to play these cards, like these significant oil sanctions.”

He added, “The Russians complained when they were called a paper tiger by Trump. At every single turn, the Russians are not showing from a position of strength – they actually look very weak right now.

Tyler Durden
Thu, 10/30/2025 – 03:30

These Are The World’s Safest (And Least Safe) Countries

0
These Are The World’s Safest (And Least Safe) Countries

Despite rising conflict around the world, 73% of people worldwide feel safe walking alone at night in their country.

Going further, this marks the highest share in nearly two decades. In 2006, for instance, global perceptions of safety stood at 63%, a figure that has steadily risen over the years.

This graphic, via Visual Capitalist’s Dorothy Neufeld, shows the world’s safest and least safe countries, based on Gallup’s Global Safety Report 2025.

The Top 10 Safest and Least Safe Countries

Below we show the global safety rankings, based on the share of residents who feel safe walking home alone at night:

Top 10 Most Safe Countries % of Residents Who Feel Safe Walking Home Alone at Night Top 10 Least Safe Countries % of Residents Who Feel Safe Walking Home Alone at Night
🇸🇬 Singapore 98 🇹🇩 Chad 41
🇹🇯 Tajikistan 95 🇲🇲 Myanmar 41
🇨🇳 China 94 🇸🇿 Eswatini 40
🇴🇲 Oman 94 🇿🇼 Zimbabwe 40
🇸🇦 Saudi Arabia 93 🇨🇱 Chile 39
🇭🇰 Hong Kong SAR 91 🇪🇨 Ecuador 38
🇰🇼 Kuwait 91 🇱🇷 Liberia 37
🇳🇴 Norway 91 🇧🇼 Botswana 34
🇧🇭 Bahrain 90 🇱🇸 Lesotho 34
🇦🇪 UAE 90 🇿🇦 South Africa 33

Singapore has the highest perceptions of safety in the world, supported by low crime rates and a high degree of law and order.

In fact, the country achieved one of the highest scores ever recorded, with 98% of the population feeling safe, including 97% of women. By contrast, the U.S. has a 26 percentage point gender gap, with just 58% of women feeling safe by this measure.

Interestingly, many countries in Asia and the Middle East rank highly in perceptions of safety, with Tajikistan, China, Saudi Arabia, and the UAE all standing in the top 10. Norway, in eighth, is the only European country on this list.

South Africa, meanwhile, ranks as the least safe country in the world. Often, citizens face the risk of robbery or assault, given a highly ineffective policing system and the country’s history of violence. In Latin America, Chile has the lowest perceptions of safety, closely followed by Ecuador.

To learn more about this topic, check out this graphic on America’s most dangerous cities, according to citizens.

Tyler Durden
Thu, 10/30/2025 – 02:45

Zelensky Says He Needs European Support To Fight Russia For Another 2-3 Years

0
Zelensky Says He Needs European Support To Fight Russia For Another 2-3 Years

Authored by Dave DeCamp via AntiWar.com,

Ukrainian President Volodymyr Zelensky confirmed this week that he needs European financial support to fight Russia for another two or three years as the war continues to rage.

“I emphasized this again to all European leaders. I told them that we are not going to fight for decades, but you must show that for some time you will be able to provide stable financial support to Ukraine,” Zelensky said, according to AFP.

Ukrainian Presidential Press Service Handout/EPA

“And that is why they have this program in mind – two to three years,” he added, referring to an EU plan to fund Ukraine for a few years using frozen Russian assets. Zelensky said the funds would either be spent on reconstruction or on more weapons.

“If the war ends in a month, we will spend this money on recovery. If it does not end in a month, but after some time, then we will spend it on weapons. We simply have no other choice,” the Ukrainian leader said.

Under a new NATO scheme, known as the Prioritized Ukraine Requirements List initiative, America’s European allies are committing to purchase American-made weapons for Ukraine, though military aid to the country has dropped significantly since the program was launched, according to a report from the Kiel Institute.

Zelensky also acknowledged on Tuesday that Russian troops have entered the city of Pokrovsk in Ukraine’s eastern Donetsk Oblast, which Russian forces have been pushing towards for months.

“Around 200 Russians are located there in various places – we see this from drones. Pokrovsk is currently the main target for the Russians,” he said.

A day earlier, Zelensky vowed that Ukraine would expand its attacks inside Russia with a focus on oil refineries. While the US hasn’t committed to providing Ukraine with Tomahawk missiles, it has recently expanded support for long-range strikes by providing intelligence for attacks inside Russia, according to media reports.

Tyler Durden
Thu, 10/30/2025 – 02:00

Putin Invites Journalists To Watch ‘Thousands Of Trapped Ukrainian Troops’ In Encircled Zone

0
Putin Invites Journalists To Watch ‘Thousands Of Trapped Ukrainian Troops’ In Encircled Zone

It seems the Kremlin wants to show the world just how bad the situation is for Ukrainian forces along the frontlines in the east of the country, at a moment Russian infantry troops have already penetrated parts of the city of Pokrovsk.

On Wednesday in live televised remarks President Putin said that Russia is ready to let journalists into Ukraine’s encirclement zone. Speaking from the Central Military Clinical Hospital in Moscow alongside Defense Minister Andrey Belousov, Putin declared that “In two places – in Kupyansk and Krasnoarmiysk [the Kremlin’s name for Pokrovsk] – the enemy has been blocked, in encirclement.” He said of Western journalists, “let them see with their own eyes what’s going on.”

This was offered as pushback against recent reports from Western media and NATO officials who have by and large downplayed or denied recent Russian gains. Also, the Ukrainian government has flatly rejected that the two cities are encircled, saying it’s not true.

For example, below is US Ambassador to NATO Matthew Whitaker saying this week that Russia looks “very weak” currently. “At every single turn, the Russians are not showing from a position of strength – they actually look very weak right now,” he claimed.

But Putin has made a rare overture, saying the Russian side is ready to stop fighting in this area near Pokrovsk for as long as media representatives are there.

“We are ready to transport them to specific locations,” he added, saying that Ukrainian leaders should “make decisions regarding the fate of its citizens who are surrounded.

This further appears an offer to let those who are surrounded, and want to live, evacuate freely – based on a potential deal. “We are ready to stop hostilities for a few hours – two, three, or six – so that a group of journalists can go in, see what is happening, talk to Ukrainian servicemen, and leave,” Putin said.

However he said he fears Ukrainian “provocations” could occur while the media are present.

The NY Times later in the day Wednesday meanwhile acknowledged that “Street battles are raging in the Ukrainian stronghold of Pokrovsk, where Russian soldiers have entered the city after a nearly yearlong assault. The breakthrough underscores the painstaking pace of Moscow’s military advances, but if Russia eventually takes full control of Pokrovsk it would gain a strategically important bridgehead in eastern Ukraine.”

The publication cited Denys, a Ukrainian drone operator, who described, “The situation is very difficult because a significant part of the city has already been infiltrated by the occupiers.”

“They’re still building up their presence, more and more, trying to completely saturate the city with their forces,” he said. “When they encounter our positions, they engage in firefights.” Russian forces have been methodically encroaching on Pokrovsk since last year, and its capture could be imminent, which would be a huge blow to Ukrainian logistics and reinforcement for the whole of the Donbass.

Tyler Durden
Wed, 10/29/2025 – 23:30