Rheinmetall has a new “GameChanger” drone (so they say) with an official “Rheinmetall Combat Drone” moniker that only a German company could love. I don’t see it as an actual gamecharger, but it is pretty interesting: a fixed-wing drone that can drop three other quadcopter drones (or, technically, loitering munitions), each of which can then be guided to the target.
The Rheinmetall Combat Drone is based on the German arms maker’s Luna NG reconnaissance drone and can carry the Hero-R type loitering munition.
“The Rheinmetall Combat Drone is the game changer for protecting your troops and fighting tactically relevant targets,” the company stated.
“Effectors as payloads transform the multipurpose drone from a sensor-to-shooter system into a highly efficient means of reconnaissance with com/network relay and SIGINT (Signals Intelligence) capabilities.”
The NG is the latest in the Luna family of reconnaissance drones, with an endurance of 12 hours and a data link range of 100 kilometers (62 miles). Satellite Communication would provide it with increased range.
The robust fiberglass composite drone has a take-off weight of 40 kilograms (88 pounds) and a service ceiling of 5,000 meters (16,404 feet).
The runway-independent vehicle can be launched with a rope hoist catapult and landed with a parachute and has stealth features with low acoustic, thermal, and radar signatures.
There’s an official video, but Rheinmetall has disabled embedding. So here’s a random Ukrainian guy (judged entirely from the trident on his hat) who’s evidently offering commentary on the drone, and has thus embedded most of the Rheinmetall video into his own. The relevant portion starts around 1:42 in.
Rheinmetall is a very solid MilTech company, but they tend to publicize things well in advance of commercial availability. (They’re hardly alone in this.) As such, I wouldn’t expect released versions to show up in the Russo-Ukrainian War. But they might send a few there for field testing.
I can see use cases for this weapon, especially for hunting down high value targets deep behind enemy lines. But this is sort of like the Cadillac Escalade of drones, while Ukraine’s flying yeet of death is more like an electric scooter: much shorter range, much more annoying, and much more cost effective for their intended task.
The Russo-Ukrainian War is probably cramming decades of drone development into white hot years of combat evolution (as wars tend to do), and every world military needs to be paying attention.
If you’re stressing over your taxes, you might be slightly relieved to know that they’re not due until April 18. Thus week: More Blue City violence and decline, lots of Social Justice Warrior backlash, Facebook shows snowflakes the door, and Budweiser commits brand suicide.
“Ex-ABC Senior Producer Who Rolling Stone Covered For Indicted On Child Porn Charges. Former ABC senior producer James Gordon Meek has been indicted on three counts of child pornography nearly one year after the FBI raided his Arlington, Virginia home.”
Something about the apparently random street murder of Silicon Valley tech executive Bob Lee seems to have overturned a crawly rock in San Francisco’s political scene, suggesting a brewing power struggle on the horizon.
On the one hand, we have a very vocally angry Silicon Valley tech community speaking out about the out-of-control crime situation in the city, with the valued and talented Lee’s untimely death from some night creature who crawled out from some sewer or encampment and stabbed him to death, quite possibly in a drug-addled haze. That’s expected if you live in a place full of bums and criminals, but Lee didn’t live in a place full of bums and criminals. He had actually fled the city for Florida based on its engulfing crime and come back only for a brief business trip.
On the other hand, we have a soggy, entrenched political establishment seeking to assure that there’s really no crime problem at all. This is evident enough in the “crime is down” coverage seen in the political establishment’s house organ, the San Francisco Chronicle, and in the surreal statements of the city hall power establishment, which is rooted in special interests, particularly the most powerful one, the homeless industrial complex. I wrote about that here. San Francisco currently spends about as much on homeless “services” as it does on police, and by some studies such as the one cited below, actually more.
Not surprisingly, as per Thomas Sowell’s observation, you can have all the poverty you want to pay for, and San Francisco pays a lot.
The Hoover Institution’s Lee Ohanian has noted:
Spending $1.1 billion on homelessness is just the latest installment in San Francisco’s constant failure to sensibly and humanely deal with an issue that it chronically misdiagnoses and mismanages about as much as is humanly possible. Since fiscal year 2016–17, San Francisco has spent over $2.8 billion on homelessness, and the city’s politicians remain seemingly baffled, year after year, as the number of homeless in the city skyrocket, as opioid overdoses kill more than COVID-19, and as the city has become nearly the most dangerous in the country. https://www.hoover.org/research/why-san-francisco-nearly-most-crime-rid….
Since 2016, the number of homeless in San Francisco has increased from 12,249 to 19,086, which comes out to about $57,000 in spending per homeless person per year. With a total population of about 860,000, roughly 2.2 percent of San Francisco residents are homeless, which is over 12 times the national average. There is little doubt that as San Francisco spends more, homelessness and its impact on the city worsens.
Do the homeless get that $57,000 being spent on them? Of course not. The princelings of the NGO establishments got that money — for themselves. That’s what’s made them politically powerful, enough to call the shots at city hall.
Democrats and Social Justice Warriors view homelessness as a huge profit center, and seek to increase the ranks of the homeless at every opportunity.
Also, an arrest was made in the Lee case and it was a fellow tech guy who knew him. “A tech executive named Nima Momeni was arrested by San Francisco police Thursday morning in the April 4 killing of Cash App founder Bob Lee…Lee and Momeni were portrayed by police as being familiar with one another. In the wee hours of April 4, they were purportedly driving together through downtown San Francisco in a car registered to the suspect.” So not a random gibbering drug-addicted transient.
Speaking of San Francisco street crime, a Whole Food closes one year after opening due to violence and theft.
A St. Louis judge sanctioned St. Louis Circuit Attorney Kim Gardner’s office last week for allegedly withholding evidence in a double-murder case, while allowing the suspect out on bond, amid rising criticism about left-wing prosecutors allowing crime to flourish in major U.S. cities.
Alex Heflin, 23, was held without bond since January after he was initially charged with two counts of second-degree murder and armed criminal action, local media reported. But those charges were recently reduced to involuntary and voluntary manslaughter before he was released, while his April 17 trial has been postponed until June 12.
Judge Theresa Counts Burke ruled in favor of Heflin’s lawyers after they filed a motion accusing a prosecutor under Gardner of violating discovery rules. They alleged that her office did not turn over evidence, including a 911 call recording and DNA evidence.
“The court finds that there have been repeated delays by the state in obtaining discovery and providing it to the defense,” Burke wrote, according to local reports.
“There has been a lack of diligence on the part of the state in following up and providing discovery to the defendant in a timely fashion. As a result of the state’s actions and lack of diligence, the court grants defendant’s second motion for sanctions.”
Under Burke’s order, Heflin will have to remain on GPS monitoring. She also ordered the circuit attorney’s office to hand over their list of witnesses within 24 hours, provide DNA test results within 24 hours, or ask a crime lab for the DNA results.
“Molotov balloons are a ball filled with sulfuric acid, but white strips are a type of paper treated with potassium chlorate and a sugar mix. When the balloon breaks, the acid reacts with the potassium chlorate and sugar, which causes ignition.”
Another girlboss indicted: “Penn grad Charlie Javice, founder of Frank, charged with fraud over $175M JPMorgan deal.” Seems the heart of the indictment is fake users.
Prosecutors and the SEC allege that Javice orchestrated a scheme to deceive JPMorgan into believing that Frank had access to valuable data on 4.25 million students who used the company’s service when in reality the number was less than 300,000.
Prosecutors said when JPMorgan (NYSE: JPM) sought to verify the number of Frank users and the amount of data collected about them, Javice fabricated a data set. She is alleged to have an unnamed co-conspirator who first asked Frank’s director of engineering to create an artificially generated data set. Prosecutors said the director of engineering declined the request after expressing concerns about its legality.
Javice, according to prosecutors, then approached an outside data scientist and hired him to create the synthetic data set — which was then provided to an agreed-upon third-party vendor in an effort to confirm to JPMorgan that the data set had over 4.25 million rows.
Based on that alleged fraudulent data, prosecutors said JPMorgan agreed to buy Frank for $175 million. As part of the deal, the nation’s largest bank hired Javice and other Frank employees. Prosecutors said Javice received over $21 million for selling her equity stake in Frank and, per the terms of the deal, was to be paid another $20 million as a retention bonus.
Prosecutors said as the fabricated data set was being created, Javice and her co-conspirator sought to purchase real data for over 4.25 million college students to cover up their misrepresentations.
Treading the fine line between “fake it until you make it” and “interstate wire fraud.”
Bud light tranny pander wrecks brand. “I’ve never seen such little sales [as] in this past few days.”
“AK Guy” Brandon just dropped the fourth installment of his “Weird Guns Being Used in Ukraine Right Now” on YouTube, showing some of the funky, modified, and just plain ancient weapons be used in active combat there. The first installment is age limited and non-embeddable, but the other three are below.
Highlights:
Both sides are using he original Maxim belt-fed machine guns, a World War I mainstay “patented in 1883. Timeline-wise this weapon was designed closer to the beginning of the American revolution in 1776 than it was to the current Ukrainian conflict.”
PKM machine guns taken off armored vehicles and converted for individual use. Which is more difficult than it sounds, since the firing mechanism is triggered by an electric solenoid. “They had to rig up an entirely new firing system to rig up to these things, and quickly, and frankly I’m impressed. Ghetto gunsmith to ghetto gunsmith, crisp internet high five.”
Chechen soldiers (assuming there are any of them still around) are better equipped than Russian soldiers.
“You’re seeing all sorts of modern munitions, anti-armor stuff, aircraft drones. But then in the exact same confrontation, you’re also having guys that are carrying around weapons that are so old that their great grandfathers could have easily carried in the Great War to end all wars. And while the reality of war is obviously very tragic, the significance of some of the stuff being used in the field is extremely interesting.”
Highlights:
“Modified mortar RPG rounds…in guerrilla warfare, it’s always useful to have a couple of rednecks around.”
That ridiculous “six antipersonnel grenades attached to an RPG” thing.
“Some poor Ivan got handed a squirrel killer (a Chinese QB-57 single shot air rifle) and was thrown into the middle of 21st century combat with drones and tanks and was told good luck, have fun. It’s no wonder a lot of young Russian men are leaving the country rather than being conscripted…nothing says the government cares about your well-being quite like being tossed into fucking combat with a Red Ryder from A Christmas Story.”
Russia is also using World War II era DPM or DP-28 Degtyarev machine guns. “It’s basically like a PKM, if a PKM wasn’t belt fed and was instead fed by a pizza dish. It’s the closest thing to a full dinner plate most Soviets ever got to see.”
Other World War II era machine guns seeing combat: MP40s, Sturmgewehr (STG) 44s and MG 42s.
“There’s a lot of Russians now rolling around with
[American Thompson] .45 ACP submachine gun, AKA of course the Tommy Gun.” A legacy of Lend-Lease.
Plus: Anti-tank rifles! Including a PTRS-51 chamber in 14.5mm. “I guarantee you that shit will buttfuck the engine of any vehicle ever, as well as probably penetrate some of the light armor on some of the lightly armored armored personnel carriers.”
A suppressed Barrett M107, which is every bit as monstrously long (and no doubt heavy) as you would suspect.
Ukraine is also using everyone’s favorite space-alien looking FPS gun, the FN FS-2000.
Lots of ghetto gunsmithing.
A really funky glider with an RPG-7 on top. It actually looks slightly funkier than the flying yeet of death. Which comes next in the video.
Russians using old-fashioned sporting break action shotguns against drones.
More Maxims, including in duel, triple, and quad mounts. “We’re starting to get in the territory of like those mech things from Matrix Revolutions. [Now] we have something that is basically just a ghetto-rigged Minigun.”
If you’re interested in vintage, weird and improvised weapons, all the videos are worth taking a look at.
More on the collapse of Silicon Valley Bank, Syria gets spicy again, woke companies like Disney are having massive layoffs, and Sig Saur gets into the Killbot business. It’s the Friday LinkSwarm!
Courtesy of Bloomberg’s reporting, it appears that not only were insiders dumping their shares faster than syphilitic hooker, there were loading up on loans from the bank at a scale that makes a mockery of any regulatory oversight…
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Yes, that’s real.
Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022 – a record dollar amount of loans going back over 20 years.
Many questions come to mind – what were the terms, who were the recipients, what was the collateral?
But, sadly, we will likely never know.
However, we do note that the banking execs may be facing a serious shortfall (like their bank): if the loans were collateralized by SVB shares for example, those shares are now worthless, leaving the loan-heavy C-suite left to come up with the cash to repay the loans (and no, these loans don’t disappear with the bank’s liquidation).
Between that and the insider share dumping, people need to go to jail.
After the implosion of the FTX crypto exchange run by Sam Bankman Fried, questions of due diligence and competency immediately arose, suggesting that perhaps the company mishandled assets “accidentally” and that Fried was naive and “in over his head.” Numerous central bank officials and globalist organizations jumped into the debate almost immediately, arguing that FTX was a perfect example of why centralized regulation of crypto and digital currencies was necessary. They claimed that without oversight by banking elites, disaster was inevitable.
Of course, what they did not mention was that FTX and Sam Fried already had extensive connections with globalist groups including the World Economic Forum. In fact, the very basis of Fried’s business model was the WEF’s “Stakeholder Capitalism” theory, which he often referred to as “Effective Altruism.”
Stakeholder Capitalism is essentially the opposite of free markets – It is a socialist/globalist framework which uses corporations as a kind of economic enforcement tool. Corporations are already highly socialistic in their operations, and their existence is completely dependent on their special relationship with government. Corporations are created through government charter, enjoy special protections under “corporate personhood” laws and avoid direct consequences for criminal activities through limited liability.
Many corporations are not even allowed to fail because governments backstop their operations. That’s socialism, not free markets. However, “stakeholder capitalism” expands on this dynamic a hundred-fold.
Where free markets assert that businesses must make profit their primary objective for the overall economy to function, the WEF asserts that companies including banking institutions have a social obligation that goes beyond making money. To the typical leftist this probably sounds like a Utopian vision filled with promise, but to anyone that actually understands economics it sounds like a recipe for the collapse of civilization.
The WEF paints stakeholder capitalism an effort to reign in the power of the corporate system in favor of social causes. In reality, it’s a way to give corporations ultimate power over everything, including ultimate influence over public behavior.
We have seen extensive evidence of this through widespread corporate ESG investment programs implemented in the past several years. It is no coincidence that the invasion of woke ideology into the mainstream happened at the exact same time that ESG-based lending accelerated.
The institutions lending to various companies were able to set social rules for access to credit, and these rules required businesses to adopt far-left politics in their marketing and policies as a result. Stakeholder capitalism is about homogenizing all business into a single ideological entity – Instead of competing with each other for market share through innovation, companies have been abandoning merit based competition and are colluding to saturate the mainstream with social justice cultism, climate change propaganda and globalist rhetoric.
By making corporate elites “responsible” for society, we give them the power to engineer society.
However, the WEF’s model of false altruism is turning out to be a disaster for corporate survival. I have to wonder now if this was the intent all along – To create a kind of ESG fueled woke financial bubble that was always intended to come crashing down, leaving the western world in ruins.
Snip.
Looking into SVB’s operational history, the company was a woke nightmare.
Take a gander at their 66 page ESG report compiled in 2021 to get a sense of how far to the extreme political left the bank was. SVB is the pinnacle example of why “Get Woke, Go Broke” is more than a mantra, it’s a rule.
Digging even deeper we then find that SVB’s leadership was highly involved in the WEF and their Stakeholder Capitalism Metrics (SCM), along with corporate governance. SVB was not only implementing every single policy the WEF outlines in its agenda, they were reporting back to the WEF on their progress.
SVB’s capital exposure was heavily tied up in securities, but also venture capital for woke tech startups, climate change related projects and leftist activist groups which qualified for ESG loans; everything from BLM to Buzzfeed. In other words, they were investing aggressively into money-pit projects that devoured cash and gave nothing back. The real question is, how many US banks are involved in ESG and WEF operations at the same level as SVB? Dozens? Hundreds?
“U.S. Carries Out Airstrikes in Syria after Iranian Drone Kills U.S. Contractor, Wounds Five Service Members.” As I’ve mentioned before the withdrawal of most U.S. troops from Iraq and Syria doesn’t mean all. And the same goes for Africa.
“56% of liberal white women age 18-29 have been diagnosed with a mental health condition.” Well, you already said “liberal”…
Louisiana state Rep. Francis Thompson switched from the Democratic to the Republican Party, given Republicans a super-majority in both houses and thus the ability to override any veto by Democratic Governor John Bel Edwards. ““The push the past several years by Democratic leadership on both the national and state level to support certain issues does not align with those values and principles that are a part of my Christian life,” said Thompson.
World Athletics, the governing body for international track and field competition, has banned men from international competition. “I’ll take ‘Headlines no one in the 20th century would understand’ for $600, Alex.”
“Dallas Bar Cancels All-ages Drag Event.” Funny how the threat of having your TABC license yanked concentrates the mind…
Get Woke, Go Broke Part 1: After a string of expensive bombs and streaming losses, Disney to lay off 7,000 employees.
Get Woke, Go Broke 1.5: “Woke Marvel Producer Victoria Alonso Gone From MCU.” She was one of the central figures pushing Disney to adopt a pro-groomer position in Florida. The ostensible reason for her firing was breach of contract for producing a non-Marvel movie, but a lot of industry insiders think her outspoken wokeness was a key reason for her getting the axe.
Get Woke, Go Broke Part 2: “Twitch Streaming Service To Sack 36% Of Employees.”
SIG Sauer announced late last week it has acquired General Robotics, one of the world’s premier manufacturers of lightweight remote weapon stations and tactical robotics for manned and unmanned platforms as well as anti-drone applications. The companies have been working in concert for some time, a fact made obvious at January’s SHOT Show when they debuted a Polaris ATV equipped with a General Robotics PitBull remote weapons station that aimed and fired the vehicle-mounted SIG MG 338 belt-fed machine gun remotely.
“This acquisition will greatly enhance SIG Sauer’s growing portfolio of advanced weapon systems,” said Ron Cohen, president and CEO of SIG Sauer. The team at General Robotics is leading the way in the development of intuitive, lightweight remote weapon stations with their battle-proven solution.”
During World War II, the Wehrmacht developed the remote-controlled Goliath tracked mine to take out tanks, fortifications, and other targets. Despite some models packing a whopping 220 pounds of explosive, they sort of looked like a toy a child could ride on, and would almost be adorable if it weren’t for the fact that they were Nazi death bombs.
Who’s an adorable little Nazi death bomb? You are! You are!
As in so many things, Ukrainians have rediscovered and deployed (kinda) another lost weapon/tactic from World War II. Namely, they’re using remote control vehicles as suicide antitank bombs.
I’ve long thought you could use even smaller, slightly modified off-the-shelf RC cars in mass to take out softer targets like trucks. Or drive into a enemy barracks with just a couple of pounds of plastique studded with roofing nails.
The Russo-Ukrainian War continues to expand the possibilities of drone warfare, and I trust the Pentagon (and every other military in the world) is taking notes.
A Russian military plane collided with a U.S. drone in international airspace over the Black Sea on Tuesday, prompting U.S. forces to land the unmanned aircraft in international waters.
U.S. European Command confirmed that a Russian Su-27 aircraft struck the propeller of a U.S. MQ-9 drone, which was on a routine mission in international airspace when two Russian jets attempted to intercept it.
“Several times before the collision, the Su-27s dumped fuel on and flew in front of the MQ-9 in a reckless, environmentally unsound and unprofessional manner. This incident demonstrates a lack of competence in addition to being unsafe and unprofessional,” a spokesman for the U.S. European Command said in a statement.
The Russian jets’ recklessness almost caused one of the fighter jets to crash, the statement added.
Sounds like a pretty stupid thing for the Russians to do, as an Su-27 is obviously a lot more expensive to replace (including the pilot) than an MQ-9 Reaper drone. For one thing, the MQ-9 is over 15 years old and we have more than 300 of them, so losing one isn’t going to deter the American military in the slightest. But they’re not building any more Su-27s (a 1980s Soviet attempt to rip off the F-14 Tomcat), and Russia only had some 100 of them when the war started. (No documented losses on Oryx as of this writing, but Russia became ultra-conservative about committing manned airpower to the arena after the opening phases of the war.)
Russia continues to be annoyed at NATO in general, and America in specific, using technologically superior surveillance and communications assets to effectively provide the entire killchain for Ukrainian forces. Indeed, it appears that those assets are far more effectively integrated into Ukrainian forces than Russian assets are integrated into their own military and/or Wagner Group.
I can understand their frustration, but directly attacking American assets (over international water or otherwise) is only going to make things much, much, much worse for them…
Ukraine has stepped up its drone attacks against a wide spectrum of Russian military infrastructure targets.
“Ukrainians are reportedly attacking objects from St. Petersburg to Krasnodar, which is a 2,000-kilometer front line in the air.”
“Ukrainians have also reportedly accompanied the drone attack with a cyberattack on the Russian regional missile detection system.”
They also hit an oil depot in Tuapse, for which Suchomimus has a video:
That’s way beyond the Kerch Strait Bridge. Back to the first video.
“The Russians have also closed the sky near St. Petersburg. After Russian detection systems were set off, Russians reportedly used interceptor jets to eliminate the threat.” That’s more than 1,000km from Kiev, which must have Russian air defense planners freaking out. (Or drinking even more heavily than usual.)
The hit a number of targets in Crimea, though many of the drones launched there were shot down, and some were hijacked by Russian electronic warfare countermeasures. (Cue a Cory Doctorow-esque rant about the need for strong encryption.)
“Some analysts are saying that Ukrainians are just testing Russian air and electronic defense systems, and are creating an elaborate map for building more sophisticated trajectories. After they finish, these analysts are predicting a much larger scale attack, which would cause a lot of destruction of the airfields, as well as oil refineries and factories producing military equipment.”
“The second camp of analysts is saying that the goal of these attacks is to disperse Russian air defense that has been greatly concentrated on the fronts.”
Reporting from Ukraine is usually pretty solid and seems to have sources inside Ukraine’s defense ministry.
Here’s a video from Samir Puri and the Imperial War Museum that echoes something Nicholas Moran said ten months ago, namely that the tank is not obsolete on the modern battlefield, it’s just that the Russians are using them wrong.
Takeaways:
Russia, despite a century of data, isn’t using tanks properly in combined arms operations in concert with infantry, artillery and close air support.
Ukraine is, though much of their close air support has taken the form of drones. “These unmanned aerial vehicles have proved very effective especially against slow-moving Russian armored convoys.”
“We don’t really see this kind of tight combined arms operations being mounted by the Russians. They really struggled to do this. Instead, what we saw were quite disconnected Russian elements, and that meant that often the Russians were moving into positions it was still very well defended that hadn’t been softened. Which is why as the war has moved on sixth, seventh, eighth month [this video came out two months ago], the Russians have changed tack very much to I guess quite brutal indiscriminate bombardment of the cities they want to take.”
“There are no massed tank battles for which the Cold War T-72 was designed. In fact, engagements in Ukraine are on a much smaller scale with platoons and companies clashing together rather than divisions and corps.”
“There has also been an absence of close air support, a crucial tool for supporting tanks as part of combined arms operations. There was a lot of aerial activity, there was a lot of dog fighting as well, early on in the in the invasion. But the aerial defense systems that both sides have gotten and can deploy to cover their their more fixed positions are effective enough that the attrition rate amongst combat aircraft has risen. And the Russians interestingly appear to be husbanding the resources of their air force.”
“In the early months of the war, Russia had little infantry with which to protect its tanks, particularly in urban settings. That that allowed small groups of Ukrainians to mount what almost seemed like guerrilla operations. Getting in close to Russian armor and taking them out with anti-tank guided missiles before they knew what was happening.”
“Russia has now launched a much larger mobilization of manpower to try and fix this problem, but with many of its best troops and equipment already expended, there are questions about the quality, supply, and morale of these new soldiers.”
“The fact that the Ukrainians are actually able to capture intact or largely intact T-72s is a testament to the Russian logistics. Meaning that you find in captured Russian equipment low supplies, some Russian PWOs complaining of a lack of lack of proper support from their headquarters and have simply given up or run away.”
Drone warfare has also made it much harder for Russia to use tanks in a traditional defensive role in static positions on systems of defensive trenches.
Though Russia’s forces have shown some small signs of increasing technical competence in various areas, the fact that they lost so much armor attacking Vuhledar shows that they still have a long way to go when it comes to staging competent combined arms operations.
Here’s a longer-than-usual LinkSwarm, since last week’s edition was wiped out by the ice storm power outage.
The leftwing corruption of all government institutions continues apace. “US lost 287,000 jobs while government was reporting +1 million in gains.” (Hat tip: Instapundit.)
“That’s because economic growth is slowing down,” explains research fellow EJ Antoni. “Even the areas which contributed positively to gross domestic product (GDP) are not necessarily signs of prosperity. For example, business investment grew at only 1.4 percent in the fourth quarter, but that was almost entirely inventory growth. Nonresidential investment, a key driver of future economic growth, was up just 0.7 percent.”
“Meanwhile, residential investment fell off a cliff,” Antoni continued, “dropping 26.7 percent as consumers were unable to afford the combination of high home prices, high interest rates and falling real incomes. No wonder homeownership affordability has fallen to the lowest level in that metric’s history.”
There was a gain in net exports, but that was largely a mirage created by a major slowdown in international trade. “Imports are simply falling faster than exports, which shows up as an increase in GDP.”
But probably most concerning to Antoni is the sharp decline in real disposable income in 2022, which exceeded $1 trillion.
“This is the second-largest percentage drop in real disposable income ever, behind only 1932, the worst year of the Great Depression,” he observed. “To keep up with inflation, consumers are depleting their savings and burning through the ‘stimulus’ checks they received during 2020 and 2021. Credit card debt continues growing, while savings plummeted $1.6 trillion last year, falling below 2009 levels.”
Boom. “Texas has punted Citigroup from the syndicate that’s set to manage the Lone Star state’s largest-ever municipal bond offering, saying the bank’s policies for gun retailers discriminate against the firearms industry.”
Grand Theft Pollo. The food service director of an impoverished Illinois school district was charged with stealing $1.5 million of food — most of which was chicken wings. Vera Liddell, 66, allegedly began stealing from the Harvey School District during the height of COVID-19.” (Hat tip: Dwight.)
Bill Maher continues to take regular red pills. “The problem with communism and some very recent ideologies here at home, is that they think you can change reality by screaming at it.”
We could be heroes, just for one day. Or once a month, as the case may be…
This week in rapper murders: “Tampa rapper arrested for young mother’s murder days after being acquitted of recording studio double-murder.”
A Tampa jury acquitted Billy Adams of killing two men in a makeshift recording studio in Lutz. He walked free from a Tampa courtroom on January 27.
Three days later, a young mother who was pregnant with her second child was found shot to death in a residential area of New Tampa. Her toddler was still in her vehicle nearby.
A week after her death, Tampa police said Billy Adams “did admit to being the one to pull the trigger.”
Given that the original video generated doubts as to its veracity, I thought I would post this followup that goes into more detail about Ukraine’s low-cost suicide drone/loitering munition.
These look considerably less jury-rigged than the previous drones.
“These are publicly funded…Ukraine’s Ministry of Defense made a public appeal for donations to buy 1,000 of these.”
There seem to be different types with different warhead sizes. “The technical details are a bit vague. I’ve seen mentioned ranges of just two kilometers to over 10 kilometers.”
We see the successful attacks, but not the failures.
“These cost around 200 to manufacture, so they’re also extremely cost effective.” Indeed, even more cost-effective than my original estimates.
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