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Philly Fed Services Signals Slowdown In Jobs, Orders Continues

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Philly Fed Services Signals Slowdown In Jobs, Orders Continues

Desperate for any information amid the government shutdown-invoked vacuum of macro data, this morning we get a glimpse of more ‘soft’ survey data, showing that Non-Manufacturing activity in the Philadelphia Fed region softened overall,

Additionally, the indexes for general activity at the firm level, new orders, and sales/revenues fell, with the latter two turning negative.

The firms reported an overall decrease in full-time employment.

Worse still, firms expected no change for growth over the next six months at the firm level and a decline in activity for the region. The diffusion index for future activity at the firm level fell 12 points to 0.2, its lowest reading since April

On the potentially bright side, Prices Paid and Received indices both fell last month (but remain positive, suggesting expectations for higher prices)…

Finally, since the shutdown began, what little hard data we have seen is basically flat while soft survey data has deteriorated significantly…

Of course, the big one will come on Friday when CPI is due to be released, and vol markets are aware of it…

Dip-buyers may want to reflect on that.

Tyler Durden
Tue, 10/21/2025 – 08:46

Rare Earths Stocks Soar After Mega US-Australia Minerals Deal To Slash Dependence On China

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Rare Earths Stocks Soar After Mega US-Australia Minerals Deal To Slash Dependence On China

President Donald Trump and Australian Prime Minister Anthony Albanese signed a minerals deal on Monday at the White House to expand America’s rare earth supply and diversify away from China’s dominance in critical minerals used in EVs, semiconductors, and defense weapons. Beijing’s weaponization of rare earth shipments (read Goldman’s latest brief) to gain leverage over President Trump in trade negotiations underscores the urgency of diversification.

In about a year from now, we’ll have so much critical minerals and rare earths that you won’t know what to do with them,” President Trump said at the White House on Monday with PM Albanese. 

PM Albanese told the press that the U.S. and Australia will each invest over $1 billion within six months, targeting an $8.5 billion pipeline of joint mining and processing projects. 

He noted that Australia has an $8.5 billion “pipeline that we have ready to go.” 

The new minerals deal aims to diversify away from China, which has tightened export controls on rare earths and metals like gallium, germanium, and antimony

Following the signing of the deal:

  • Arafura Rare Earths Ltd. jumped up to 29% after the U.S. Export-Import Bank considered $300 million in financing for its Nolans project, alongside $100 million in conditional Australian government funding.

  • The Ex-Im Bank also issued letters of interest totaling $2.2 billion to six other miners, including VHM Ltd. (+30%) and Northern Minerals Ltd. (+19%).

  • Alcoa Corp. gained as much as 9.6% after its gallium joint venture with Sojitz received up to $200 million in equity funding.

  • Lynas Rare Earths Ltd., not yet a beneficiary, rose briefly 4.7%, while Iluka Resources Ltd. gained 9.1%.

This is the most significant bilateral minerals cooperation we have seen between two major Western countries,” Gracelin Baskaran, director of the Critical Minerals Security Program for CSIS, told Bloomberg by phone, adding, “Today’s announcement really shows the U.S. isn’t trying to address critical minerals alone. It’s looking to find the right partners.”

Analysts at Canaccord Genuity said the minerals deal “includes the use of economic policy tools and investment to support the supply of raw and processed critical minerals/rare earths, and accelerate the development of diversified, liquid, and fair markets.” 

President Trump is leading the effort – a national security one – to diversify away from China because these critical minerals are used in defense weapons.

In the U.S., we’ve been focused on popular rare earth stocks like USA Rare Earths (USAR) and MP Materials (MP), as the Pentagon quietly ramps up its billion-dollar mineral stockpiling spree. 

Recall that on July 11th, we wrote “The Coming Rare Earth Revolution And How to Profit” for our premium subscribers.

Eighteen months ago, we wrote in a note titled “Next Big Mineral Trade Revealed by Morgan Stanley” that MP Materials is the “one company that stands to benefit” from restoring America’s rare earth supply chain. 

Rebuilding America’s supply chains and diversifying away from China will ensure the U.S. is prepared for not just the 2030s but also the world fracturing into a bipolar state. Remember, the whole posturing now is called “Hemispheric Defense“.

Tyler Durden
Tue, 10/21/2025 – 07:20

Pirro Busts Two Adult ‘Big Balls’ Attackers After Judge Lets Teens Off Easy

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Pirro Busts Two Adult ‘Big Balls’ Attackers After Judge Lets Teens Off Easy

US authorities have charged and arrested two more teens in the attempted carjacking and savage beating of Edward Coristine, the 19-year-old former DOGE staffer known as “Big Balls.”

U.S. Attorney Jeanine Pirro speaks at a news conference Monday in Washington after the latest arrests in the assault of former DOGE staffer Edward Coristine. (Kylie Cooper/Reuters)

Laurence Cotton-Powell, 19, and Anthony Taylor, 18, have were charged with robbery and assault over their alleged roles in the Aug. 3 attack on Big Balls – as well as a separate incident which took place at a nearby gas station minutes before, US Attorney Jeanine Pirro announced Monday.

According to Pirro, Cotton-Powell and Taylor, along with a gang of several others, assaulted and robbed another individual minutes before attacking Coristine. Upon seeing the gang of roughly 10 suspects approaching, Coristine pushed a female friend into her car to try and keep her safe.

He was then attacked by multiple suspects who then punched him repeatedly, causing significant injuries to him. They got him on the ground, and as they were doing so, they demanded the car from the woman who was inside the car and had already locked the car. They were banging on the car, they were pulling on the car door, trying to get the car open, and were telling the woman in the car to hand over the keys,” said Pirro.

Several days after the assault, President Trump posted a picture of Coristine bleeding, battered and shirtless – writing on Truth social “If D.C. doesn’t get its act together, and quickly, we will have no choice but to take Federal control of the City.” Days after that, Trump declared a local crime emergency – placing the DC police department under direct federal control. Agents – including the National Guard, then spread out throughout the city to crack down on crime.

This case underscores the escalating challenges that we face in confronting crime in Washington, D.C.,” said Pirro on Monday, standing next to a photo of the bloodied Coristine, adding that the case highlights “the need for accountability among young offenders.” Pirro noted that Cotton-Powell’s had a rap sheet a mile long – having been arrested twice in the U Street corridor last year alone. Less than two weeks after the attack on Big Balls, Cotton-Powell was arrested again nearby. 

“This behavior is indicative of what we see time and time again: A small group of suspects committed a series of violent crime offenses in a very short period of time,” said DC Police Chief Pamela A. Smith during the Monday afternoon presser. Both teens have admitted to being involved in the attacks during police interviews, prosecutors say. 

The new arrests come days after a DC Superior Court judge let two 15-year-olds off with probation for the pair of Aug. 3 incidents. In her decision to go light on crime, Judge Kendra D. Biggs said that the goal of juvenile court “is rehabilitation, not punishment.” 

Pirro urged the DC City Council to “reconsider” laws that “allow these young people to go out and victimize, revictimize and keep revictimizing and putting the safety of the citizens who live, work and visit here at risk.”

“I ask them to stand up finally and send a clear message, because the people of this district deserve no less than safety,” she said. 

Tyler Durden
Tue, 10/21/2025 – 06:55

Severe Mpox Virus Strain Possibly Spreading In LA County, Officials Warn

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Severe Mpox Virus Strain Possibly Spreading In LA County, Officials Warn

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Health officials said that three cases of a rare strain of mpox, or monkeypox, were confirmed in California and that they are investigating whether the virus is spreading locally.

The Los Angeles County Department of Public Health said in a statement on Oct. 17 that it is “investigating the possibility of a local spread of Clade I mpox cases after confirming its second case in an adult with no recent travel to regions where this virus is typically found,” adding that the person was hospitalized and is now at home and recovering.

Los Angeles County Health Officer Dr. Muntu Davis said in a statement that officials have “concerns about possible local spread in Los Angeles County” after the three cases were confirmed.

We’re working closely with our partners to identify potential sources and understand how this potentially more serious type of the mpox virus may be spreading,” Davis said.

The cases of Clade I mpox confirmed in Los Angeles County are the first in the United States to be diagnosed without any known prior travel exposure. The strain, which is considered more deadly, has been spreading in the Democratic Republic of Congo and other African countries over the past few years.

Three days before the statement from Los Angeles County, the City of Long Beach said in a statement that it confirmed one case of Clade I mpox in a Long Beach resident who had no prior travel history. Long Beach is located in Los Angeles County but has its own health agency.

“While the overall risk of mpox clade I exposure to the public remains low, we are taking this very seriously and ensuring our community and health care partners remain vigilant so we can prevent any more cases,” Long Beach Mayor Rex Richardson said in the statement. “This underscores the importance of continued surveillance, early response, and vaccination.”

The risk to the public is low, said officials.

The first Clade I detection was also in California, occurring last November, according to the state health department.

Mpox is a rare disease caused by infection with a virus that is in the same family as the one that causes smallpox. It is endemic in parts of Africa.

Milder symptoms can include fever, chills, and body aches. In more serious cases, people can develop lesions on the face, hands, chest, and genitals.

One version of the virus, called Clade II, was the source of an international health crisis in 2022 as infections escalated in dozens of countries, mostly among males who have sex with other males. At one point, the United States was averaging close to 500 cases per day.

Long Beach health officials noted that Clade I may be more severe than the other variant and said that vaccines for mpox are available.

The California Department of Public Health issued a warning on Oct. 17 that the disease may be spreading in the state and is “primarily impacting communities of gay and bisexual men.”

As we continue to monitor the situation, it is crucial for Californians to stay informed and take preventive measures, especially persons who are more likely to be exposed to mpox,” Assistant State Public Health Officer Rita Nguyen said in a statement.

“Clade I mpox cases can be severe. Risk of severe disease and hospitalization are highest for people with weakened immune systems, so it’s critical to protect yourself by getting both doses of the mpox vaccine if you or your sex partner(s) may be at risk for mpox.”

The Associated Press contributed to this report.

Tyler Durden
Tue, 10/21/2025 – 06:30

64% Of Rwanda Politicians Are Women; Just 4% In Nigeria

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64% Of Rwanda Politicians Are Women; Just 4% In Nigeria

Data from the Inter-Parliamentary Union shows the extent to which differences in gender equality in parliament exist between countries, with only four nations currently representing an even or almost even 50:50 split of men to women in their lower house of parliament. These are Andorra, Mexico, Bolivia and the United Arab Emirates.

Meanwhile, as Statista’s Anna Fleck details belowthere are only three countries worldwide with a higher ratio of women to men. These are Rwanda (63.8 percent share of women), Cuba (55.7 percent) and Nicaragua (55.0 percent).

Infographic: Who’s Leading the Race Towards Parliamentary Gender Parity? | Statista

You will find more infographics at Statista

A look at selected countries shows that gender parity in parliaments is lagging behind in European nations as well as in the United States, where only around 29 percent of House members where women most recently.

In Europe, Scandinavian nations lead, like Sweden at 45 percent, Finland at 45.5 percent and Iceland at 46 percent. Spain follows suit with 44.3 percent.

Lowlights in Europe include Hungary at 15.2 percent, Bosnia and Herzegovina at 19.1 percent and Bulgaria at 21.3 percent.

However, Germany is not far ahead at 32.4 percent.

Globally, Nigeria was among the countries with the lowest female participation in parliament at 4.2 percent.

Sri Lanka, Syria, Iran and Algeria all stayed below 10 percent. 

India reached 13.8 percent. The country is scheduled to up representation to 33 percent after its next census towards the end of the decade.

Japan stood at a slightly improved 15.7 percent, but still towards the bottom of the ranking.

Tyler Durden
Tue, 10/21/2025 – 05:45

Sweden Tells Citizens To Prepare For “War Mode”

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Sweden Tells Citizens To Prepare For “War Mode”

Authored by Mac Slavo via SHTFPlan.com,

Swedish Defense Minister Pal Jonson said that NATO (North Atlantic Treaty Organization) members should prepare their citizens for “war mode.” 

Jonson said that the possibility of a war with Russia is still on the table.

Jonson told RedaktionsNetzwerk Deutschland (RND), as reported by RT, in an interview published on Sunday.

“To preserve peace, we must prepare ourselves both mentally and militarily for the possibility of war,” the official said. 

“A change in mentality is necessary: We must switch to war mode to resolutely deter, defend, and preserve the peace.”

Swedish Defense Minister Pal Jonson, Warsaw, Poland, April 3, 2025. © Foto Olimpik / NurPhoto via Getty Images

Moscow has long viewed the Ukraine conflict as a NATO proxy war aimed at undermining Russia’s security following decades of expansion.

Sweden is the bloc’s newest member, while Ukraine was ‘promised’ accession sometime in the future.

RT reports that The European Commission last week unveiled a roadmap outlining its plans to expand joint arms procurement to at least 40% by 2027.

The document emphasized the need to “invest more, invest together, and invest European,” citing global strategic shifts to other regions among “traditional allies.”

The push for greater defense spending aligns with calls from US President Trump, who has demanded that European members buy more American weapons – including for Ukrainian use.

Jonson justified such purchases, saying that Europe “simply doesn’t have or cannot yet produce” the necessary systems.

“Ukraine needs these assets fast,” he said.

“If Europe lacks them, it’s logical to procure them from the US.”

Recently, several American officials told the Wall Street Journal, according to a report by Yahoo News that Trump is putting much more pressure on the Ukrainian ruler Volodymyr Zelensky than he is on Russia.

Officials say that they have observed Trump’s “hesitation to push Putin, who has shown little interest in concessions needed for a deal.”

One Wall Street Journal source noted that “the White House has put more pressure on Kiev than on Moscow.”

Tyler Durden
Tue, 10/21/2025 – 05:00

EU Energy Ministers Want To Finish Ditching Russian Gas In Two Years

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EU Energy Ministers Want To Finish Ditching Russian Gas In Two Years

European Union energy ministers think they’ll be able to phase out the import of Russian gas by 2028, and have backed a proposal that would begin the process by phasing out the contracts themselves for both pipeline gas and liquefied natural gas (LNG) by Jan. 1, 2026. 

Gas pipelines at the Atamanskaya compressor station facility of Gazprom’s Power Of Siberia project outside the far eastern town of Svobodny, in Amur region, Russia, on Nov. 29, 2019. Maxim Shemetov/Reuters

Current agreements may continue until June 17, 2026, while long-term contracts may would be cut off on Jan. 1, 2028.

That said, landlocked members states (Hungary, Slovakia) which have limited alternatives to Russia would be afforded some flexibility. 

If the proposed regulations are backed by the European Parliament, it would require member states to submit plans for how they will diversify their energy supplies if they’re currently receiving (directly or indirectly) gas from Russia. 

Composed of national ministers from each member state, the Council of the EU said in a press release, “The same requirement to submit a national diversification plan will apply to those member states that are still importing Russian oil, with a view to discontinuing those imports by 1 January 2028.”

Danish minister for climate, energy and utilities, Lars Aagaard, said “An energy independent Europe is a stronger and more secure Europe. Although we have worked hard and pushed to get Russian gas and oil out of Europe in recent years, we are not there yet,” adding that it’s critical for Denmark – which currently holds the rotating presidency of the Council of the EU, secures “overwhelming support from Europe’s energy ministers for the legislation that will definitively ban Russian gas from coming into the EU.”

The Council presidency will begin negotiations with European Parliament (720 lawmakers) before agreeing on the final text of the regulations.

In other words – two years will have come and gone by the time they’re done talking…

That said, Europe has already significantly cut back on Russian gas;

Between Q1 2021 and Q2 2025, the EU-27 reduced Russian oil imports by more than 90 percent, cutting the share of Russian oil in total extra-EU imports from 29 percent to less than 2 percent. During the same period, Russia’s share of the EU’s natural gas imports dropped from 39 to 13 percent, driven mainly by a 52-percent reduction of natural gas imports in gaseous state. The value of liquefied natural gas imports from Russia actually almost tripled between Q1 2021 and Q2 2025 but still accounted for a smaller share of the EU’s total LNG imports in the most recent quarter. This is due to total LNG imports more than quadrupling during this period, as the EU replaced Russian pipeline gas with LNG from suppliers like the United States, Qatar and Norway. -Staista

As the Epoch Times notes further, when it comes to Hungary and Slovakia:

Following the 2022 Russian invasion of Ukraine, the EU has sought to reduce its dependence on energy from Russia. According to an explainer on the European Council’s website, “Russia’s share of EU imports of pipeline gas dropped from over 40 percent in 2021 to about 11 percent in 2024.”

In 2024, Russia accounted for less than 19 percent of the EU’s imported gas and LNG combined.

While much of Europe has moved away from Russian energy and Brussels has imposed extensive sanctions on most Russian oil imports, Slovakia and Hungary still receive Russian supplies via the Druzhba oil pipeline.

Bratislava and Budapest maintain closer ties with Moscow than the rest of the bloc and have defended their continued purchase of Russian oil, saying alternatives are too expensive.

Hungarian Prime Minister Viktor Orban has repeatedly called for the EU to drop its plan to stop Russian energy from being imported, and his environment minister, Aniko Raisz, echoed those sentiments on Sept. 18.

“I think you know our position. We are one of the few landlocked countries in the region. So, our position has always been guided by the energy security for Hungary,” Raisz told reporters in Brussels.

“We know that we have important, important tasks ahead of us, but let’s not daydream.”

Slovakian Prime Minister Robert Fico (R) signs a mutual memorandum of cooperation with Hungarian Prime Minister Viktor Orban (L) in the Mirror Hall of the Slovak Governmental Office in Bratislava, Slovakia, on April 28, 2025. Zuzana Gogova/Getty Images

Last month, Slovakia pushed back on U.S. President Donald Trump’s calls for Europe to curb Russian oil imports.

“We don’t have any other options which could be sustainable and also for the price to be reasonable,” Slovak Foreign Minister Juraj Blanar told Reuters during an interview on the sidelines of the U.N. General Assembly on Sept. 24.

It takes time to diversify this. So that’s why we are calling for some kind of empathy.”

Hungarian Foreign Minister Peter Szijjarto said on Sept. 24 that the country will not stop buying Russian oil.

“We are a landlocked country,” Szijjarto told ATV television in an interview in New York City, where he was also attending the U.N. General Assembly. “It would be great if we had access to the sea; we could build an oil refinery or an LNG terminal on the coast and cover the entire world market. But that’s not the case.”

Guy Birchall and Owen Evans contributed to this report.

Tyler Durden
Tue, 10/21/2025 – 04:15

Victor Hanson: Who Or What Will Finally End Hamas?

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Victor Hanson: Who Or What Will Finally End Hamas?

Authored by Victor Davis Hanson via AmericanGreatness.com,

Hamas was born and exists to kill Jews, seek the destruction of Israel, and, to some extent, overthrow or subvert pro-Western Arab governments. Period.

For those ends, it diverted billions of dollars from the people of Gaza to build a vast subterranean labyrinth of military headquarters and arsenals. It expropriated hospitals, mosques, and schools for use as tunnel entries and exits, using expendable civilian shields to protect its rich terrorist hierarchy. Hamas always counted on plenty of collateral damage to sway the Western left to become active enablers of its murderous causes—in a way, it is also stone silent on other “occupied land” and “refugees,” from the recent ethnic cleansing in Azerbaijan and Nigeria to the long-standing illegal occupations of Northern Cyprus and swaths of the Congo.

Hamas was willing to execute its Palestinian Authority rivals, cancel all elections after its first and only victory, hold kangaroo death courts to murder dissidents, and steal hundreds of billions of dollars in Western and international relief. It has already violated the ceasefire, attacking and killing Israelis, and now claims it has “lost” the remains of Israeli hostages, whom it likely murdered (and thus does not want more physical evidence of their barbarity).

Hamas will never give up power, despite the fact that its ruling elite is all but wiped out, thousands of its foot soldiers are dead, and it is now loathed by most nations of the Middle East. The subtext of every negotiation over the future of Gaza is that almost every Arab regime privately wants the U.S. or Israel to eliminate Hamas. It is likely more popular at American college campuses, or in Dearborn, Michigan, and New York City—than in the Middle East.

Nonetheless, the remnants of Hamas are already in public view, in SS fashion, publicly executing any alleged critics or rivals.

And it hopes to be reinvigorated by the recent release of 1,700 convicted terrorists, most with Hamas ties and many flush with cash for their past killing of Jews.

Hamas’s current strategy?

It hopes first to crush any internal Gaza opposition by liquidating critics, particularly oppositional clans and tribes, before mounting terrorist operations against Israel.

It then expects that Iran and Hezbollah will similarly feign cooperation with moderate Arab regimes and the U.S. to “deescalate” and eventually seek “peace”—until the old ring of fire and its Iranian patronage are rebuilt, and once a Democrat administration in Washington returns. It counts on assistance from an insidious UN, expatriate Arabs and Muslims in the West, Western leftist groups, and suicidal Western governments.

For now, Hamas will limit most of its killing to Gazans who complain about the mass death it brought to Gaza by its murderous rampage against Israelis on October 7, or small groups of Israeli peacekeepers.

So, given that peace is impossible with Hamas in the negotiations, who or what is going to eradicate Hamas as it seeks to return to its accustomed killing and terrorism?

If it is allowed power in Gaza, either solely or as part of a coalition, then the entire “peace process” is doomed.

To grant it semi-legitimacy would be analogous to allowing the surviving Nazi apparat to participate in a postwar German democracy, or Tojo and his militarists to help rebuild Japan.

There are three entities who bear the responsibility to end Hamas under the new peace accords: the moderate Arab regimes of the Gulf, Egypt, Jordan, and perhaps Turkey, along with the U.S. and Israel. All of them wish Hamas to vanish as much as they fear doing so themselves. So while it is far-fetched that the three forces would act in concert to finish off Hamas, it is incumbent upon them not to prevent any of the others from crushing Hamas at its first sign of regrouping to doom the peace.

In practical terms, that reality likely means that Israel must finish off Hamas, with full U.S. support—and tacit Arab acquiescence. But key to the present ceasefire and possible peace is a comprehensive plan to anticipate Hamas’s return to terrorism.

  • One, Hamas’s entire underground complex must be destroyed as a prerequisite for any rebuilding of Gaza. The tunnels should be blown up, collapsed, and filled with the rubble of the war Hamas precipitated.

  • Two, before Hamas returns to its accustomed killing, it is also important that both Turkey and Qatar expel what’s left of its leadership. Qatar fears another Israeli strike on the Hamas terrorists residing in its territory. So it now seeks U.S. protection, given that all its enemies, neutrals, and friends are tired of its triple-dealing. The Trump administration is apparently offering Qatar a life raft with the status of a protectorate. But the Trump administration should first insist that the Qataris disown Hamas and bar the group from its borders. The same with Turkey, over which the Trump administration has some considerable leverage.

  • Three, no Arab, Western, or UN aid money should be sent anywhere near Gaza without assurances that Hamas is barred from appropriating it.

  • Four, anyone with Hamas ties, formal or informal, should be prohibited from entering the U.S. and the EU and their Western allies.

  • Five, because Hamas has already been branded a terrorist organization for the past 28 years, U.S. campuses should finally be warned that student participation in pro-terrorist demonstrations championing Hamas would be equivalent to rapid expulsion. Businesses, NGOs, and fronts that empower Hamas should be warned that they will be debanked, fined, and prosecuted. In the West, Hamas should be further rebranded as a pariah no different from ISIS.

  • Six, no sanctions should be lifted from Iran until the end of its nuclear program is verified, and it ceases all funding of Hezbollah, Hamas, and the Houthis. The quickest way for the bankrupt theocracy to implode is to keep it under sanctions and embargoes while it shorts its own people in stealthy attempts to fund its terrorist tentacles—a suicidal trajectory that alone might lead the Iranian street or military to turn on the theocracy.

The chief obstacle to Phase II of the ceasefire and hostage exchange is the elimination of Hamas.

Otherwise, we are at a rare moment of opportunity in the Middle East, where the once unimaginable has become a reality.

Iran, for now, is broke, defenseless, humiliated, and discredited.

Russia has lost its Syrian client and any foothold in the Middle East, and is still trapped in its forever Ukraine War.

China has bet on the wrong Middle East horse.

Hezbollah is still shell-shocked and dismembered.

The equally untrustworthy Palestinian Authority nevertheless sees an opportunity finally to turn on its rival Hamas.

So there is a rare opportunity for the U.S., the Arabs, and Israel finally to forge a peace without the fear of foreign-funded, nihilist terrorism—but only the moment and solely if the last obstacle, the terrorists of October 7 who prompted the last two years of war and death, are finally disarmed, discredited, humiliated, and eliminated.

*  *  *

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

Tyler Durden
Tue, 10/21/2025 – 03:30

Brazil Has The Worst Wealth Inequality In The World, Slovakia The Least

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Brazil Has The Worst Wealth Inequality In The World, Slovakia The Least

This visualization, via Visual Capitalist’s Niccolo Conte, compares countries by wealth inequality in 2024 using the Gini coefficient, a standard measure where 0 represents perfect equality and 1 represents maximum inequality.

The data for this graphic comes from the UBS Global Wealth Report 2025, which analyzes wealth levels and distribution across more than 50 markets.

Where Inequality Is Highest

Brazil, Russia, and South Africa top the list for wealth inequality, each posting Gini coefficients around the low 0.8s.

These scores imply a highly concentrated distribution of assets relative to the rest of the population. Several energy-rich economies—such as the UAE and Saudi Arabia—also rank high, reflecting significant concentrations of financial and real assets among upper tiers of wealth holders.

Country Gini Coefficient 2024
🇧🇷 Brazil 0.82
🇷🇺 Russia 0.82
🇿🇦 South Africa 0.81
🇦🇪 United Arab Emirates 0.81
🇸🇦 Saudi Arabia 0.78
🇸🇪 Sweden 0.75
🇺🇸 United States 0.74
🇮🇳 India 0.74
🇹🇷 Türkiye 0.73
🇲🇽 Mexico 0.72
🇸🇬 Singapore 0.70
🇩🇪 Germany 0.68
🇨🇭 Switzerland 0.67
🇮🇱 Israel 0.66
🇳🇱 Netherlands 0.65
🇭🇰 Hong Kong SAR 0.63
🇨🇳 Mainland China 0.62
🇵🇹 Portugal 0.61
🇬🇷 Greece 0.60
🇹🇼 Taiwan 0.60
🇫🇷 France 0.59
🇬🇧 United Kingdom 0.58
🇰🇷 South Korea 0.57
🇵🇱 Poland 0.57
🇮🇹 Italy 0.57
🇪🇸 Spain 0.56
🇦🇺 Australia 0.55
🇱🇺 Luxembourg 0.55
🇯🇵 Japan 0.54
🇶🇦 Qatar 0.47
🇧🇪 Belgium 0.47
🇸🇰 Slovakia 0.38

Where Wealth Is Most Evenly Shared

On the other end of the spectrum, Slovakia and Belgium post the lowest Gini readings in this dataset.

These countries tend to combine robust social safety nets, relatively high savings among households, and policy frameworks that diffuse asset ownership more broadly.

Global Context Since 2000

Globally, wealth equality has decreased slightly since 2000 (–0.4%). At the same time, UBS estimates that millionaire households account for nearly half of all personal wealth worldwide.

If you enjoyed today’s post, check out Ranked: The Countries With the Most Millionaires on Voronoi, the new app from Visual Capitalist.

Tyler Durden
Tue, 10/21/2025 – 02:45

“If We Do Not Stop This, [Dutch] Society Will Explode…”

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“If We Do Not Stop This, [Dutch] Society Will Explode…”

Via Remix News,

Dutch Minister of Asylum and Migration Policy and Minister of Foreign Affairs David van Weel says the continued influx of migrants will destroy the Netherlands. He also had some harsh words about the realities of globalization.

Van Weel believes that the global situation is uncertain, and even countries like the Netherlands, which are theoretically ready for major changes, must be careful. 

“The assumption that globalization will protect us from conflict has proven wrong. We are witnessing economic blackmail and armed clashes. People are worried. We must learn from this and protect ourselves. And we are already doing so, including at the EU level,” he told news outlet Rzeczpospolita, as cited by Do Rzeczy.

He then pointed directly at the EU mandate regarding migrants.

“For too long we have accepted an excessive influx of immigrants. If we do not stop this, society will explode,” he stated. 

Emphasizing the social toll this has taken, van Weel highlighted the ongoing housing crisis in the Netherlands:

“Today we have a very serious housing crisis. Houses are so expensive that immigrants have to stay in refugee centers. And at the same time, society does not want more such centers to be opened. And it is very negative that it is impossible to send back those who do not deserve asylum.”

Nevertheless, van Weel, a member of the People’s Party for Freedom and Democracy (VVD) party, ruled out any further cooperation with Geert Wilders’ Freedom Party (PVV). 

The Netherlands will be holding its next general election on Oct. 29, and the VVD politician is lamenting the stance of many voters across Europe. 

“In many, almost all European countries, the political scene is very polarized today. The extremes dominate. That’s the will of the voters. And yet, we have to govern the country.” 

The VVD previously entered a coalition with the PVV, which van Weel says Wilders violated. 

“We have to try to build bridges, try to reach an agreement with the extreme parties. We made such an attempt with the PVV. But Wilders didn’t keep his end of the bargain. He broke the agreement. And yet, even if his party is weakened, it remains the largest in the polls. But we will not enter into a coalition with him again,” he said. 

Notably, van Weel is employing a tactic used by many mainstream centrist parties, speaking about the issues of immigration without taking any concerted action against the issue.

Wilders himself ended the coalition because the government was failing to take action on the issue of mass immigration. WIthout his party included in a future coalition, the issue is only expected to grow worse.

Read more here…

Tyler Durden
Tue, 10/21/2025 – 02:00