I hope everyone had a great Christmas! GDP says that some of the economy is already booming, Minnesota Somali fraud is even greater than we thought, Nigerian jihadis get dirtnapped, California drives yet more businesses out, another Democrat pedophile busted, Trump cleared in Epstein scandal by NYT, some cursed gun images, and some leftover Christmas cheer.
It’s the Friday LinkSwarm!
Is the Trump Boom here? “US Economy Grows By Big 4.3% In Third Quarter.” I can hardly wait for this booming economy to catch up with me…
“Minnesota Somalia Community Fraud Likely to Exceed $9 Billion.
According to Assistant U.S. Attorney Joe Thompson, 14 Medicaid services currently under audit and deemed “high risk” have cost the state $18 billion since 2018. “I don’t make these generalizations in a hasty way,” he said. “When I say significant amount, I’m talking on the order of half or more. But we’ll see. When I look at the claims data and the providers, I see more red flags than I see legitimate providers.”
Thompson said during a press conference announcing new indictments that entire companies were created not to provide medical services but to pocket federal funds for international travel, luxury vehicles and lavish lifestyles. “The magnitude cannot be overstated,” Thompson said. “What we see in Minnesota is not a handful of bad actors committing crimes. It’s staggering, industrial-scale fraud.”
Thompson then outlined an industry of “fraud tourism” where some outsiders -specifically two from Philadelphia- even travelled to the state to participate in the financial windfalls. The scheme was “easy money,” he said.
Why, it’s almost as if the Democrats running the state didn’t try to stop the fraud…
Nigerian foreign minister, Yusuf Tuggar, has told broadcaster ChannelsTV that he was on the phone with the US secretary of state, Marco Rubio, and that Nigeria “provided” the intelligence.
“We spoke twice. We spoke for 19 minutes before the strike and then we spoke again for another five minutes before it went on,” Tuggar said.
He added that they spoke “extensively” and that President Bola Tinubu gave “the go-ahead” to launch the strikes.
Tuggar did not rule out further strikes, describing them as an “ongoing process” that would also involve other countries.
In an interview with the BBC, Tuggar insisted the strikes had “nothing to do with a particular religion”. He said the operation did not have “anything to do with Christmas, it could be any other day – it is to do with attacking terrorists who have been killing Nigerians”.
Of course, the Islamic State has everything to do with religion, but it’s smart to say “We’re not killing Muslims, we’re killing terrorists.”
The BBC has more information on the strikes, saying they hit not Boko Haram, but “a smaller group [known] locally as Lakurawa” that “sought to establish a base in north-western Sokoto state.” DoD images released suggest the use of Tomahawk cruise missiles, but I haven’t seen any confirmation of the weapons used in the strikes.
Harsh but fair: “Democrats are letting criminal illegal immigrants kill people.”
Democrats are allowing people to be murdered by illegal immigrants so they can brag that they are not cooperating with Immigration and Customs Enforcement.
This is the reality of the most recent case in Fairfax County, Virginia. There, El Salvadoran national Marvin Morales Ortez had been jailed and charged with multiple crimes after “maliciously wounding” someone who was living in the same home with him. When the alleged victim did not show up to testify, Fairfax County Commonwealth Attorney Steve Descano’s office dropped the charges, and a judge ordered Ortez to be released. He was then arrested after allegedly murdering the same person he had injured, not even a day after being released.
ICE had put a detainer request on Ortez, given that he was an illegal immigrant, but Fairfax County refused to honor it and hand him over to be deported. Now, someone is dead. And this is not the first time there has been an issue with Ortez; Descano dropped murder charges against him from a 2019 killing where he had, according to Descano’s own office, confessed to participating in the murder. He has been charged with at least seven crimes in Fairfax County over the past five years, but Descano has dropped charges against him multiple times.
And, sure enough, he is also an alleged member of MS-13.
There are some questions to be asked here. For one, how can you be unable to prosecute an alleged MS-13 member after bringing charges against him multiple times? Descano’s office has constantly claimed noncooperation by the alleged victims, as if that is an insurmountable obstacle. But, more importantly, why not just hand him over to ICE, send him back to El Salvador, and never play this cat-and-mouse game where you arrest him for crimes and drop the charges the moment the case is more difficult than a slam dunk?
This guy could have been deported at any time, and yet he was allowed to stay free in Fairfax County through dropped charges and ignored ICE detainers. The Democrats who run Fairfax County are so obsessed with supporting illegal immigration that they allowed an alleged murderer to stay in the country, constantly released him from jail, and watched him allegedly commit another murder in the process.
This is the mindset of Democrats across the country in all sanctuary states, cities, and jurisdictions. They care more about protecting the concept of illegal immigration than they do about the lives of the people who are being victimized by illegal immigrants.
Texas Attorney General Ken Paxton has posted a woman’s privacy complaint form. So if any of you woman see a man pretending to be a woman using your restrooms, now you know where to report them.
California state officials received an emphatic legal rebuke over public school policies that required school officials to withhold from parents the gender identity or “social transition” expressions of minor students.
U.S. District Judge Roger T. Benitez ruled yesterday in a summary judgment decision that California’s parental exclusion policies are unconstitutional and issued a class-wide permanent injunction in the case of Mirabelli v. Olson.
The injunction permanently blocks California Attorney General Rob Bonta and the state’s Department of Education from forcing teachers to lie to parents about their children being socially transitioned with new names and pronouns.
I hope every parent who had their child “transitioned” sues the asses off the groomers.
Speaking of crazy trannies: “Transgender felon who blinded Seattle woman was arrested and released 8 times this year.”
Because the People’s Republic of California wasn’t doing enough to destroy business in their state, they’re passing on more business-destroying taxes.
We may never run out of signs that Gov. Gavin Newsom (D-CA) is an utterly incompetent executive who belongs nowhere near power. The latest is that he has not repaid a federal pandemic unemployment loan, effectively creating a new California tax on jobs.
During the 2020 pandemic, the Trump administration provided loans to states to help address unemployment as businesses were shut down. California received a loan of $20 billion and, more than five years later, has not paid it back. In fact, California is one of only two states that have not repaid their loans. And California failed to do this despite the Biden administration giving all states the ability to repay loans with federal stimulus money.
This means the cost is now passed on to California employers. Every employer in California will be required to pay an additional $42 per employee in payroll taxes to help the state pay back the loan. That will increase by $21 every year until the loan is paid back (which is not projected to happen until the 2030s). It does not matter if the employee is part-time or full-time. It does not matter if the employer is a big business or a small, family-run store. Everyone will be taxed for each person they employ.
That means, in effect, Newsom and California Democrats have allowed a new tax on employing people to take effect while having the highest unemployment rate of any state in the country. California, with onerous regulations and taxes, already makes job growth difficult; in 2024, 96.5% of new jobs created were government jobs. This will only make it even more difficult, all because Newsom and California Democrats want to recklessly spend money without making sure everything is paid for.
ity poor Cuba — one of the wealthier nations in the Latin America before the Communists got hold of it, and now at risk of “collapse” due to President Donald Trump’s seizures of sanctioned Venezuelan oil tankers.
If you liked the pressure Trump’s blockade put on the Maduro regime, you’re gonna love the second-order effects it could have on Cuba.
The Wall Street Journal reported Sunday that “Venezuelan oil exports are at risk thanks to a partial blockade targeting sanctioned tankers — the kind that carry about 70% of the country’s crude.” The story continued, “Were Venezuela’s oil shipments to stop, or sharply decline, the Cubans know it would be devastating.”
Cuban exile and energy expert Jorge Piñón told the Journal, “It would be the collapse of the Cuban economy, no question about it.”
Communist Cuba has relied on foreign benefactors to stay afloat, pretty much since Fidel Castro and his butcher boys like Che Guevara seized power more than 60 years ago. In recent years, the regime — ruled since 2018 by Communist party chief Miguel Díaz-Canel — relies on the largess of Venezuelan strongman Nicolás Maduro for cheap oil the country can’t afford to buy at market price.
Yes, even at today’s low prices. I’d also pause here a moment longer and ask you to ponder that under the Communists, Cuba is so poor that Maduro’s Venezuela — where they already ate all the zoo animals — is its economic lifeline.
Venezuela is in such dire straits that oil shipments to Cuba already declined by two-thirds, from 100,000 barrels a day to 30,000. That was before we started pulling over their tankers and checking for license and registration.
My PJ Media colleague Sarah Anderson reported Saturday that U.S. forces just “seized another oil tanker that was last docked in Venezuela.” DHS Secretary Kristi Noem posted on X, “This morning [the U.S. Coast Guard] in coordination with the [Department of War] executed a lightning strike operation to seize the Motor Tanker Centuries, which is suspected of carrying oil subject to U.S. sanctions. The iron fist of America’s joint military and federal law enforcement rules the waves.”
With the Motor Tanker Centuries tanker went another small fraction of $150-$435 million or so in hard currency imports (estimates seriously vary!) the Maduro regime requires each week to do little things like pay the troops who keep it in power.
And Díaz-Canel’s lifeline got that much shorter.
It would be ironic of all that military buildup people think is for Venezuela actually liberated Cuba…
How does this happen in an American city with nearly 90,000 residents?
Welcome to Lawrence, Massachusetts…
Mayor [Brian] DaPena was born in Santo Domingo, Dominican Republic. He came to the United States, according to his website, in the early ’80s.
More than 40 years later, he still struggles with English, showing no interest in assimilating to American culture or language.
“REPORT: ‘Ghost jobs’ with no intent to hire make up 22% of online job postings.” I think that estimate is too low. I think it’s probably more like 40-50%.
If a Democrat ever tries to lecture you about decency and morality, just drop this name on them: Randy Sprinkle.
Yes, that’s a real name. It’s actually the name of a Democrat operative who was just arrested by the FBI and charged with distributing child porn. Randon “Randy” Alexander Sprinkle, 30, it turns out, was recently the finance chairman of the Virginia Democrat Party; he once served as a leader in the Young Democrats of Virginia, and worked in 2025 as the campaign treasurer for Richmond City Council Vice President Katherine Jordan.
And, now, Mr. Sprinkle is in big trouble with the law. It seems that he was an avid user of an app called “Jack’d,” which markets itself as “the premier social app for gay, bi, trans, and queer people” and boasts of having more than 15 million members. Whilst using Jack’d (under the name “Randy,” by the way), Sprinkle unknowingly made contact with an undercover FBI agent working out of the Manassas, Virginia, FBI field office; the agent is referred to as “OCE” in the 9-page affidavit against Sprinkle that was filed Friday.
Here’s the exchange Sprinkle initiated on the app:
Randy: “Hey how’s it going”
OCE: “What’s up man”
Randy: “Just horny af you, telegram”
OCE: “Let’s go Randy, what’s your Tele”
Randy: “hmudmv9, got a face pic btw”
Once the conversation was brought over to Telegram, Sprinkle advised the agent of his twisted, perverted interests: “Mostly into Yng, rape, incest you.” Sprinkle later sent the agent a video of a young boy being sexually abused by a grown man.
You know it must have physically pained them to admit this: “NY Times Finds ‘No Evidence’ Implicating Trump in Epstein’s Sex Trafficking.”
To justify their efforts, reporters Nicholas Confessore and Julie Tate drowned exonerating details in a sea of innuendo, for example: “Over the years, Mr. Epstein or his partner, Ghislaine Maxwell, introduced at least six women who have accused them of grooming or abuse to Mr. Trump, according to interviews, court testimony and other records. One was a minor at the time. None have accused Mr. Trump himself of inappropriate behavior.” (Italics added)
Almost all of the specific allegations of bonding between Donald Trump and Jeffrey Epstein date back to the 1990s before Trump’s marriage to Melania in 2005. The reporters pretend to be shocked that during this period Trump enjoyed the kind of lifestyle rich men have enjoyed since the beginning of recorded time.
Following hot on the heels of Thanksgiving travel and the final push to put out a new Lame Excuse Books catalog next week, this is going to be a somewhat briefer LinkSwarm.
This week: The Supreme Court greenlights the Texas redistricting map, a whole lot of support behind Trump Accounts, more Tim Walz corruption in Minnesota, the January 6 pipeline bomber turns out to be a black anti-Trump radical, more Ukrainian missile and drone strikes on Russian infrastructure, another pedo teacher exposed, Netflix buys Warner Brothers, and a tsunami of horrifying sequels barrels towards movie screens. It’s the Friday LinkSwarm!
Texas’ newly redistricted congressional map will remain in effect for the 2026 primary after the U.S. Supreme Court on Thursday approved a stay of a lower court panel’s ruling against the new lines.
The State of Texas had applied for a stay of that ruling by the El Paso-based federal judicial panel that came down last month, which declared that legislators illegally considered racial factors in the redraw. The Office of the Attorney General (OAG) then appealed that ruling to the U.S. Supreme Court, citing many of the fiery arguments made by the panel’s lone dissenter, Judge Jerry Smith.
Before Thanksgiving, Justice Samuel Alito issued a temporary stay of the ruling, pending further consideration by the full court.
Now that stay has been made permanent, pending a full appeal later on, in a 6 to 3 ruling by the court along ideological lines. Justices Samuel Alito, Clarence Thomas, and Neil Gorsuch penned a concurring opinion.
“First, the dissent does not dispute—because it is indisputable—that the impetus for the adoption of the Texas map (like the map subsequently adopted in California) was partisan advantage pure and simple,” the trio wrote.
“Thus, when the asserted reason for a map is political, it is critical for challengers to produce an alternative map that serves the State’s allegedly partisan aim just as well as the map the State adopted. Id., at 34; Easley v. Cromartie, 532 U. S. 234, 258 (2001). Although respondents’ experts could have easily produced such a map if that were possible, they did not, giving rise to a strong inference that the State’s map was indeed based on partisanship, not race.”
They concluded, “Neither the duration of the District Court’s hearing nor the length of its majority opinion provides an excuse for failing to apply the correct legal standards as set out clearly in our case law.”
Justices Elena Kagan, Sonia Sotomayor, and Ketanji Brown Jackson dissented.
The one-party rule of ‘Democratic Kings’ in Maryland continues to reveal an optically displeasing truth about these leftist activists masquerading as competent politicians, who are anything but, and their epic mismanagement of state finances has only occurred because of limited oversight into their radical agendas.
Fox Baltimore reports that a state legislative audit uncovered major concerns about the oversight of billions of dollars spent by Democratic Gov. Wes Moore and his rudderless leftist allies in Annapolis, who champion everything from failed climate-crisis policies to wokeism to gender identity agendas to social justice and criminal justice reforms, as well as protecting illegal aliens (new voter base) – this is anything but ‘Maryland First’…
“Most recently, a state audit revealed 42 state offices spent a total of $8.5 billion last year with minimal oversight. That audit came on the heels of a State Highway Administration audit detailing $360 million in unauthorized spending for federal projects, and a separate Social Services Administration audit revealing a lack of protections for foster care children in Maryland,” Fox Baltimore wrote in a report.
Taxpayers Protection Alliance president David Williams told Fox Baltimore journalist Jeff Abell, “It’s a problem that almost $9 billion is going to these entities and we just don’t know where the money is going.”
Williams expressed serious concerns over the findings, pointing out, “This is supposed to be a system of checks and balances. We know the checks have gone out but there are no balances to be sure the money is being spent wisely.”
He called for increased oversight, saying, “If you’re receiving taxpayer money, there has to be full accountability, and this is billions of dollars we’re talking about.”
The lack of oversight in Maryland comes as no surprise, given that the state suffers from a disastrous one-party rule of far-left Democrats who care more about upholding the globalist framework of climate-crisis and illegal alien policies.
Moore’s photo next to dark-money-funded NGO emperor Alex Soros makes it all the more clear why he and Maryland Democrats operate with a globalist framework in the first place.
The result of one-party rule has been a ballooning deficit, soaring taxes, a credit rating downgrade, and a continued large-scale exodus of residents fleeing to red states as Maryland quickly loses its charm and is on track to transform into the next “Illinois 2.0.” On top of the financial failures, power grid mismanagement has collided with surging data center demand, sending power bills through the roof.
It’s not a mystery where it went. It disappeared into the pockets of radical leftwing activists and NGOs.
An unlikely bipartisan Senate duo is spearheading a push for employers to donate to the new “Trump accounts” created under the GOP’s “big, beautiful” reconciliation package last summer.
Sens. Ted Cruz, R-Texas, and Cory Booker, D-N.J., teamed up on a letter sent to Fortune 1000 CEOs on Monday encouraging their companies to contribute to the new investment accounts created for young children. Dell CEO Michael Dell and his wife, Susan, pledged a $6.25 billion donation to the accounts Tuesday that earned them a White House appearance with President Donald Trump.
The savings accounts, which are funded with after-tax contributions, were dubbed “Trump accounts” under the budget reconciliation law. The government will contribute $1,000 to the accounts for babies born this year through the end of Trump’s term.
The Congressional Budget Office estimated that the provision would cost $15 billion over 10 years. The Dell donation would expand the program to reach children who wouldn’t qualify for the federal contribution.
“These tax-advantaged accounts ensure that every American child is an immediate shareholder in America’s largest companies and will experience the miracle of compound growth through their lifetime,” Cruz and Booker wrote in their letter seeking corporate contributions.
Texas Lt. Governor Dan Patrick “Backs Trump’s Baby Investment Plan, Wants To Double It in Texas. Under the proposal, Texas newborns would receive an additional $1,000 from the state treasury at birth.”
Lt. Gov. Dan Patrick says Texas should create its own version of President Donald Trump’s new child investment accounts, announcing that the state should provide every Texas newborn with an additional $1,000 in publicly funded, long-term savings beginning in 2027.
The initiative mirrors and expands upon the federal Trump Accounts program created under the One Big Beautiful Bill Act of 2025, which seeds every American newborn’s account with $1,000 that cannot be accessed until adulthood and grows through investment in a broad U.S. stock-market index. The accounts are intended to accumulate wealth from birth and teach families and children long-term financial planning.
In a post on X, Patrick said he “loves” Trump’s idea to invest $1,000 at birth that “cannot be spent until age 18 and must be used for education or other qualifying expenses,” and he applauded Texans Michael and Susan Dell for contributing $6.25 billion to help launch the federal program.
“If I see a great idea from the President that helps Texans, my first question is always, ‘why not do it in Texas, too?’” wrote Patrick.
He noted that about 400,000 babies are born each year in Texas and said that one of his top priorities for the 2027 legislative session will be passing what he calls the “New Little Texan Savings Fund.” Under the proposal, Texas newborns would receive an additional $1,000 from the state treasury at birth, invested in the S&P 500 in alignment with the federal program. Combined with Trump Accounts, Patrick says Texas children would receive a total of $2,000 in initial investment capital, not including voluntary family contributions.
U.S. Transportation Secretary Sean Duffy says he’ll withhold $30.4 million from Minnesota, after a review found nearly one-third of driver’s licenses in the state were issued illegally.
In a letter on Monday, Duffy warned Minnesota officials that more than $30 million in federal highway funds may be withheld unless the state revokes any commercial driver’s licenses (CDLs) that should not have been issued and addresses deficiencies in the state’s commercial driver’s license program.
According to KTSP TV, Secretary Duffy alleged that one-third of Minnesota’s non-domiciled CDLs reviewed by the Federal Motor Carrier Safety Administration (FMCSA) were issued illegally.
Minnesota will have 30 days to revoke the illegally-issued licenses or face the loss of funding.
Secretary Duffy noted that, “Minnesota failed to follow the law and illegally doled out trucking licenses to unsafe, unqualified non-citizens — endangering American families on the road. That abuse stops now under the Trump Administration.”
“The Department will withhold funding if Minnesota continues this reckless behavior that puts non-citizens gaming the system ahead of the safety of Americans,” Duffy added.
Over 400 employees of the Minnesota Department of Human Services are accusing Governor Tim Walz (D) of failing to act on warnings of widespread fraud and of retaliating against whistleblowers.
The accusations come as federal probes are examining the theft of more than a billion dollars from programs like child nutrition, Medicaid, and housing aid and as federal prosecutors announced charges against a 78th defendant in the theft of $250 million from Feeding Our Future child nutrition program.
In a post on X, the Minnesota DHS group called out Walz for ignoring what the group called “a pattern of ignored warnings, threats to whistleblowers, and unqualified appointees prioritizing image over fixes.”
In their post, the Minnesota DHS group explains that, contrary to popular belief, they aren’t a political group but have been continually disappointed in the lack of response they’ve received as well as the governor’s response to those who have pointed out the fraud.
“We let Tim Walz know of fraud early on, hoping for a partnership in stopping fraud but no, we got the opposite response. Tim Walz systematically retaliated against whistleblowers using monitoring, threats, repression, and did his best to discredit fraud reports,” the group wrote.
In addition to retaliating against whistleblowers, the group claims, “Tim Walz disempowered the Office of the Legislative Auditor, allowing agencies to disregard their audit findings and guidance.”
Snip.
In their post on X, the group states that Walz is “100% responsible for massive fraud in Minnesota” and calls for taking the next step of bringing in “external auditors and new leadership.”
– a young black guy – radical anti-Trump activist – sued Trump & ICE & DHS – extreme racial justice advocate – works at his family bail bonds company that frees criminal aliens from ICE custody
Ukraine drone struck FSB headquarters in Chechnya and Livny oil depot in Oryol. The simmering resentment of Russia in Chechnya never went away, so killing a whole bunch of FSB goons isn’t going to help Russia keep a lid on the place.
“Reports say that four military-type quadcopter drones buzzed the flightpath of President Zelensky’s aircraft as it arrived at Dublin Airport on Monday and then went to buzz an Irish Navy ship. This is likely Russian drones and suggests an intelligence leak.” They also buzzed an Irish naval ship, which did jack squat about them because “the ship didn’t have air radar capabilities,” which suggests that either the ship was really small, or the Irish Navy is absolutely useless in a real shooting war. (They also say that the ship was only armed with machine guns, when they’re also supposed to carry 20mm Rheinmetall autocannons.)
“Caleb Elliott was initially arrested on October 3 and is currently in custody on charges of recording and photographing students nude in the locker room at Moore Middle School. The victim count is currently around 40 students. There have been allegations that Elliott was transferred to Moore Middle School following inappropriate behavior at a previous school, had a relationship with a student, and placed cameras inside of the locker room.”
“2025: The Year Late-Night TV Collapsed.”
As Hollywood continues to contract on several fronts, late-night shows are not as sustainable as in the past.
Colbert found that out the hard way in July. CBS announced Colbert’s “Late Show” gig will end in May of 2026. Even more dramatic? No one is slated to replace him. “The Late Show” will end as Colbert signs off.
The shocking part? Reports said the show was costing CBS roughly $40 million a year. Why would any business take that kind of a fiscal drubbing in the first place?
That came on the heels of “The Tonight Show” shrinking from five nights a week to four, “Late Night with Seth Meyers” losing his house band and several late-nighters losing their gigs.
Period.
Think Samantha Bee, Desus & Mero, Trevor Noah, James Corden and Amber Ruffin.
That, plus news that late-night TV revenues have plunged in recent years (along with their audiences), suggested Jimmy Kimmel’s prediction might come true faster than he anticipated.
Late-night TV has much less than 10 years left. This year proved it.
Kimmel nearly took his own show down. The far-Left host suggested Charlie Kirk’s killer was part of the MAGA movement without evidence or a shred of logic.
ABC/Disney sent him the bench for a week before he returned sans apology. He cried, again, but not for misleading viewers.
The Hollywood Left and the media rallied on Kimmel’s behalf, and he returned to the show to spread more misinformation.
Meanwhile, Fox News’ “Gutfeld” continued to out perform the competition on a smaller budget (and, admittedly, an earlier time schedule). That proves there’s a market for a right-leaning audiences ignored, or insulted, by the current late-night landscape.
The future doesn’t look bright for the late-night survivors. Kimmel’s contract ends in May, but he’ll likely sign a new deal before then. ABC proved it couldn’t force Kimmel to apologize for spewing misinformation, and Hollywood would rise up, en masse, anew if ABC/Disney let Kimmel walk.
Does it matter if “Jimmy Kimmel Live!” might be losing money a la Colbert? It’s clear money isn’t the deciding factor anymore given what CBS endured for far too long.
It doesn’t ultimately matter. The late-night talkers showed their cards in 2025. They’re all parts of the DNC at this point, sometimes literally.
Netflix is buying Warner Brothers for $87 billion. To quote the press release:
This acquisition brings together two pioneering entertainment businesses, combining Netflix’s innovation, global reach and best-in-class streaming service with Warner Bros.’ century-long legacy of world-class storytelling. Beloved franchises, shows and movies such as The Big Bang Theory, The Sopranos, Game of Thrones, The Wizard of Oz and the DC Universe will join Netflix’s extensive portfolio including Wednesday, Money Heist, Bridgerton, Adolescence and Extraction, creating an extraordinary entertainment offering for audiences worldwide.
“Our mission has always been to entertain the world,” said Ted Sarandos, co-CEO of Netflix. “By combining Warner Bros.’ incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we’ll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling.”
I’m sure the Bugs Bunney-KPop Demon Hunters crossover will be lit…
A company that provides a controversial surveillance technology to both private and public entities throughout Texas was found to have been operating under an expired state license, amid state and federal lawmakers calling for greater scrutiny of the company over privacy and security concerns.
Flock Safety, Inc. installs automatic license plate readers (ALPR) that capture the license plate number and location of each vehicle that passes by. Police can then compare the data in relation to stolen vehicles, missing persons, or other crimes, and law enforcement has successfully used the technology to solve cases.
Flock’s high-resolution cameras create a detailed file that includes other markers on each vehicle, including bumper stickers. The company’s cloud-based system also connects with ALPR data from jurisdictions across the nation in real time, allowing users to map vehicle movement.
After receiving complaints last year that Flock had been installing and operating ALPR cameras on private properties without a license since 2021, the Texas Department of Public Safety (DPS) sent the company a cease and desist order in September 2024. Despite documented violations, DPS granted Flock a license for private operations, but that license expired on September 30, 2025.
More AI vulnerabilities to worry about. “Researchers at Icaro Lab, a collaboration between Sapienza University in Rome and the DexAI think tank, have discovered that AI models from OpenAI, Meta, and Anthropic can leak illicit content across various subjects when instructions are given in poetic form. The illegal content ranges from making nuclear weapons, creating child exploitation material, and developing malware.”
Shall I compare thee to a Teller-Ulam Implosion Core?
Thou art more lovely and more temperate
Critical Drinker tours Estonia. Consider this your periodic reminder that communism sucks and that just about everything they build looks soul-crushingly ugly.
Science, not settled. A whole lot of cracks in what was thought to be settled cosmology have recently appeared, and the uncertainty may result in a revolution in our understanding of the universe, but no one knows what it is yet.
Architect Frank Gehry dead at 96. Never cared for his work, so this is just an excuse to haul out this classic Onion bit from back when they were funny: “Frank Gehry No Longer Allowed To Make Sandwiches For Grandkids.”
Adam Savage geeks out over Paramount archive storage, including a ton of weird dead media formats.
Red Letter Media has a terrifying look at all the sequels, prequels and expanded universe movies coming down the pike. The frightening thing is that some are fake, but I’m not sure any are actually off the table for Hollywood. Honestly, I think I could write Bag of Sugar: The Movie. See, first we change the name to Too Sweet. An evil corporate executive wants to destroy the magic bag of sugar that’s been in the family-owned sugar business for generations…
I usually catalog book acquisitions on my other blog, but both of these touch on subjects covered here.
Morris, Edmund. Dutch: A Memoir of Ronald Reagan. Random House, 1999. First edition hardback (with “First Edition” states and “24689753” numberline (yes, Random House first printing numberlines of the period started with “2”; don’t ask me why)), a Fine- copy with a touch of a crease at head in a Fine- dust jacket with a slight bit of pull at head and top front edge, inscribed by Morris: “To Wade/With regards.” Massive 874 page authorized biography of Reagan that was quite controversial when released because it added fictional characters for dramatic effect. Bought from Recycled Reads, the Austin Public Library resale shop, for $1.85.
Neville, Leigh. Technicals: Non-Standard Tactical Vehicles from the Great Toyota War to modern Special Forces. Osprey, 2018. Fourth printing of the first trade paperback original edition, a Fine copy. Just what is says, a history of technicals, civilian vehicles (frequently Toyota pickup trucks) modified to mount military weapons like machine guns, anti-tank guns and rocket launchers. Usually an insurgent weapon, American Special Forces used them in some theaters in the 1980s and 90s. Given to me as a late Christmas present by Dwight.
As I’ve mentioned before, I don’t have a use case for owning a Cybertruck (or any electric car or truck), but for a supposedly unpopular vehicle, I actually see a lot of them on the road. (Of course, I’m only a mile from a Tesla sales office, so your mileage may vary.) But one of the the Cybertruck’s selling features is that it’s bulletproof. Well, Brandon Herrera (who owns a Cybertruck) decided to see how bullet-proof, though he’s using a detached Cybertruck door rather than his own vehicle.
Spoilers: It seems pretty bulletproof to handgun ammo up the .45 ACP, but once he stepped up to the .44 Magnum Desert Eagle (“the Cybertruck’s only known natural predator”) and the bigger rifle rounds (including 5.56 NATO and even, for grins, a .50 BMG round out of his very own AK-50), it was bulletproof no more.
Some car review channels and magazines like to brag about putting a vehicle through a “torture test.” YouTuber WhistlinDiesel sets out to show they’re amateurs, and puts a Cyberturk through a real torture test, starting with backing it off a flatbed without lowering the bed.
Other tests: Driving over large concrete pipes, door slamming, beating on it with tools and rakes and implements of destruction, etc.
To be fair, he tested it against a Ford F-150 for the same tests, which did better on some tests and worse on other. For example, the Ford cracked an axle driving off the truck bed. But the tow hitch for the Cybertruck literally tore off trying to tow the Ford.
Overall, the Ford scored better than the Cybertruck. It turns out that when you abuse the Cybertruck this badly, a whole lot of the electronics go bye-bye. But the Cybertruck was surprisingly resistant to C4…
The Biden Recession bites deeper, Soros’ hands are all over the pro-Hamas protests, California fast food wage hikes hurt workers (but help robotics companies), and some Harris County legal followups. Plus some Zack Snyder bashing. It’s the Friday LinkSwarm!
For the first time in our history, a 30-year-old man or woman isn’t doing as well as his or her parents were at 30. That is the social compact breaking down.
People aged 30-34, 60% of them in 1990 had one child. Now it’s 27%. People are opting out of America, they’re not optimistic about it, they’re not having kids. Young people aren’t having sex. They’re not meeting, they’re not mating. The pool of emotionally and economically viable men shrinks every day. Which lessens household formation.
They (millennials and Gen Z) look up, they see wealth, exceptional wealth, across my generation and people in certain industries, and they are really struggling. Their purchasing power is really going down…
We get very concerned with housing and traffic once we own the housing. Housing permits are sequestered from young people, housing prices have gone from $290,000 to $420,000 in the last 4 years.
So a young person, a house, stocks that I don’t own, skyrocket in value, let’s have Covid relief and flush the markets and take assets way up because a million people dying would be bad, would be tragic if I got less wealthy, and we’re doing it on their credit card.
Bill Maher is, if anything, clever about his timing like most comedians. His rebellion against the woke mob has been carefully crafted in a way that has allowed him to avoid outright cancellation. It’s not as impressive a revolt as Gina Carano’s because the risk today is far less, but at least he’s willing to address the obvious hypocrisy within the social justice crowd and admit that maybe, just maybe, conservatives had it right all along.
His latest surprising monologue covers an issue everyone has known about for years but almost no one in the media has been willing to address seriously because it involves many of their friends in the entertainment industry. Hollywood was quick to jump on the feminist bandwagon at the helm of the “Me Too Movement”, but this only exposed a small part of Hollywood’s degeneracy. Actresses trading sex for favors from producers and executives is hardly that shocking a revelation. The thing they really don’t want to talk about is the industry’s penchant for pedophilia…
The money quote from that video that’s not in the ZeroHedge article: “The left will overlook child-fucking if a guy from the wrong party points it out.”
One of the deepest darkest secrets of film, television and music media is that the business has long been used as a vehicle for child abusers to target kids in an environment where parental supervision is limited (and lots of money can be gained). This reminds us of yet another environment where parental supervision is limited: Public schools. The political left has also targeted these institutions as ample ground for grooming. Why? As Bill Maher notes, the groomers are naturally gravitating to where the children are.
“Leave the kids alone” is a mantra that the woke movement simply refuses to understand or accept. The reason is relatively transparent – Leftists are less inclined to have children of their own, and so, in order to increase their numbers and power they are required to indoctrinate your kids instead. This is all done under the guise of “inclusion” and the “greater good” but the results of this kind of activism are becoming deeply disturbing. Even moderate liberals are noticing that woke behavior is destroying what remains of their image.
Newly unsealed documents in Donald Trump’s classified documents case reveal that the Biden White House colluded with the National Archives (NARA) and the FBI to concoct a case against the former president.
What’s more, Special Counsel Jack Smith sought to conceal this – telling Judge Eileen Cannon in February that Trump’s counsel isn’t entitled to discovery on documents between the White House and NARA, that the court should toss requests for evidence of the alleged coordination, and that the court should deny Trump’s request for evidence related to secure facilities at his residences. Further, Trump’s request for unredacted discovery of materials should be denied.
Seems like a substantial due process rights violation, doesn’t it?
Immediately after Biden’s signature, the Pentagon announced $1 billion of military assistance to Ukraine from the Presidential Drawdown Authority.
Stinger anti-aircraft missiles, ammunition for HIMARS rocket systems, 155mm artillery rounds, 60mm mortary rounds, and Bradley Infantry Fighting Vehicles, are among the U.S. capabilities being provided to Ukraine, the Pentagon said.
The foreign-aid legislation will send roughly $60 billion in aid to Ukraine, with $23 billion being used to replenish U.S. weapons stockpiles and $11 billion to fund U.S. military operations in the surrounding area.
Israel will receive $26 billion including $4.4 billion to fund its Iron Dome and David’s Sling missile defenses. Over $9 billion of the Israel aid will go towards humanitarian relief.
While I support military aid to Ukraine, Republicans should not have dropped their demand that border security be addressed first, nor should we be raising the national debt to do it. And if we’re going to be paying for David’s Sling and Iron Dome, then we better damn well be getting the tech back to use in our own weapons.
At three colleges, the protests are being encouraged by paid radicals who are “fellows” of a Soros-funded group called the US Campaign for Palestinian Rights (USCPR).
USCPR provides up to $7,800 for its community-based fellows and between $2,880 and $3,660 for its campus-based “fellows” in return for spending eight hours a week organizing “campaigns led by Palestinian organizations.”
They are trained to “rise up, to revolution.”
The radical group received at least $300,000 from Soros’ Open Society Foundations since 2017 and also took in $355,000 from the Rockefeller Brothers Fund since 2019.
More on that theme:
TERROR: The occupation of college campuses across the US is a well organized and funded operation led by Soros-backed groups including Students for Justice in Palestine (SJP) and the US Campaign for Palestinian Rights (USCPR). The Soros-backed NGOs pay outside agitators $7800 and… pic.twitter.com/6wzpjBksBs
A lot of Jewish friends, especially those who are finally awake after 10/7, say things like "how is this America?" or "It's so scary that this Jew-hatred is happening everywhere." But it's very much NOT "America" and it absolutely is NOT happening "everywhere." In south Florida,…
A lot of Jewish friends, especially those who are finally awake after 10/7, say things like “how is this America?” or “It’s so scary that this Jew-hatred is happening everywhere.” But it’s very much NOT “America” and it absolutely is NOT happening “everywhere.” In south Florida, Jews wear the dinner plate Magen Davids and no one says one word. In rural Michigan, churches put “pray for Israel” on the signs outside. I’m not naive, obviously Jew-haters can and do live anywhere. But they’re only thriving, open, proud, in blue areas and I’m not going to let people ignore that. A lot of liberal Jews are trying to parse things right now. They imagine they are still of the left but just on this one tiny little thing, their right to exist, they disagree. No, my friends. It’s a house of cards and you’re pulling the one from the very bottom. The whole left ideology is corrupt and you’re going to have to face it. You can’t spread the blame around. The hatred, the rage, the violence, the dehumanization is all coming from one side: yours.
When Democrat judges go rogue. “Do not bring the Second Amendment into this courtroom. It doesn’t exist here. So you can’t argue Second Amendment. This is New York.” (Hat tip: Stephen Green at Instapundit.)
The state of California seems hellbent on making life a living hell for middle-class residents, as evidenced not just by their soft-on-crime policies but by the minimum wage increase that went into effect at the beginning of April.
Though the $20/hour wage was ostensibly designed to help minimum wage workers, it has had the opposite effect, with fast food restaurants in the Democrat-run state slashing jobs and hours, implementing hiring freezes, and/or bringing in self-serve kiosks to ease the financial burden.
Something else they’ve had to do is raise prices on the food they serve, with prices going up as much as eight percent at some locations.
While the fast-food industry was founded on utilizing technology to increase efficiency, the robot revolution seems to be speeding up.
Last year, Sweetgreen, a Los Angeles-based fast-casual salad chain, debuted its fully automated Infinite Kitchen at a restaurant in Illinois. Like Mezli, the Infinite Kitchen moves bowls down a conveyor belt where its system automatically portions out ingredients. The technology is “expected to cut labor costs in half while boosting throughput,” according to a trade magazine.
Similarly, the founder of Chipotle recently launched a new fast-casual chain, Kernel, that utilizes robots to heat and assemble vegetarian meals.
In December, a CaliExpress burger joint opened in Pasadena, complete with robot arms that cook burgers and fries, and AI-powered kiosks that allow customers to order and pay (and tip, of course), with their faces. Leaders at Miso Robotics, one of the companies behind CaliExpress, have said it is the first restaurant where all the ordering and cooking is fully automated.
The robots “don’t call in sick, they don’t get drunk the night before work and come in with a hangover,” one CaliExpress leader told a local TV station. “They’re a little bit more reliable.”
Other restaurants, including Cajun Crack’n in Concord, Calif., are experimenting with robots that can deliver food, bus tables, and may soon be taking orders. Robot bartenders and baristas are also in the works.
While restaurant sales are forecasted to increase this year and the restaurant workforce is expected to grow, owners are continuing to struggle with slim margins, in part due to food inflation and rising labor costs. According to the National Restaurant Association’s 2024 State of the Restaurant Industry report, 98 percent of restaurant operators are struggling with higher labor costs, and 38 percent say they weren’t profitable last year.
Biden Recession + union-backed wage hikes = boom times for robots
El Paso Democratic judge: Eh, there’s not enough evidence to put these illegal aliens on trial for assaulting state troopers. Just let them go. Grand jury: Nope! We’re indicting 141 of them for that riot.
Another Harris County follow-up: DA Kim Ogg announced that the legal cases against Lina Hidalgo staffers will now be prosecuted by the Texas Attorney General’s office because Democratic DA nominee Sean Teare, who defeated Ogg in the March primary, “works for the Cogdell Law Firm, which is defending Hidalgo’s former Chief of Staff Alex Triantaphyllis in the case, and that he had sought and received Hidalgo’s endorsement.”
The Biden Administration wants to waste taxpayer money pushing radical transgenderism in other countries. “The Biden administration wants to train at least 200 activists to advocate for transgender rights in India as part of a program ostensibly designed to advance America’s ‘national interests,’ according to a federal grant posting.”
More Biden Administration madness: “A popular US convenience store chain has been hit with a civil rights lawsuit accusing it of discriminating against minority job seekers because it requires applicants to have no criminal record.”
A dust storm of political madness is brewing in Phoenix as Grand Canyon University faces the continued threats of Education Secretary Miguel Cardona.
Christians have watched as the Biden administration attacks biblical views left and right, with a particularly vehement disregard for the sanctity of life and marriage. As such, it can’t be too surprising that Cardona, a part of this leftist administration, has vowed to shut down America’s largest Christian university.
In late October, Grand Canyon University was hit with “a $37.7 million fine brought by the federal government over allegations that it lied to students about the cost of its programs,” The Associated Press reported—an accusation that GCU President Brian Mueller described as “ridiculous.”
Around the same time, Liberty University, America’s second-largest Christian university, also was fined $37 million “over alleged underreporting of crimes.”
Grand Canyon University appealed its fine in November even though a hearing is not expected until January 2025. But the question Mueller has is one of integrity. Is this genuine consideration for the well-being of students, or is this a targeted attack against religious institutions?
“It’s interesting, isn’t it, that the two largest Christian universities in the country, this one and Liberty University, are both being fined almost the identical amount at almost the identical time?” GCU’s president speculated in a speech. “Now is there a cause and effect there? I don’t know. But it’s a fact.”
Trader Joe’s organic basil has an extra organic ingredient: salmonella.
Critical Drinker wasn’t impressed with Rebel Moon 2: “Comically inept…boring and tedious..derivative cliched and unoriginal. It takes a special kind of cinematic anti-genius to bring all these things together into one movie. You have to actively work to make a film this bad”
The Biden Recession hits boardgaming. This is not a field I have much experience with, as the last boardgame I bought was the Kickstarter for the Designer Edition of Ogre. But I have noticed a similar decline in what science fiction book collectors are spending. Still, the idea that boardgames manufacturers are close to $1 billion in debt is pretty staggering.
The Onion sold. “The Onion has a new owner: a company called ‘Global Tetrahedron,’ which is a real thing based on a fake entity invented by the satire site more than two decades ago….The Onion’s new owner is Jeff Lawson, co-founder and former CEO of Twilio, a customer-service software company, he announced Thursday on X (formerly Twitter).” When last we read about Jeff Lawson, he was dumping money on the Dem side in the 2020 Texas Senate race, to no effect. Now people are wondering whether they’ll shut down zombie SJW gaming site Kotaku…
Live in Florida? Ron DeSantis would like you to adopt this cute border dog:
Essentia is a lab/shepherd mix who was rescued from the southern border, where the border crisis affects everyone—even our canine friends. Please consider giving Essentia a great home by adopting her from Big Dog Ranch Rescue.https://t.co/2ATqP5DPQNpic.twitter.com/qMO8JD1zUw
Lies trying to hide how bad the Biden Recession sucks continue to unravel, a mini Texas-vs.-California update, Ukraine makes another oil refinery go boom, true depths of human depravity, some Bill Burr and Critical Drinker links, and two tons of Murica. It’s the Friday LinkSwarm!
Against expectations of a small improvement from -11.3 to -10.0, the headline sentiment gauge dropped to -14.4 (the lowest end of analysts’ forecasts).
Furthermore, the production index, a key measure of state manufacturing conditions, fell five points to -4.1, a reading that suggests a slight decline in output month over month.
Other measures of manufacturing activity also indicated declines this month.
The new orders index – a key measure of demand – dropped 17 points to -11.8 after briefly turning positive last month.
The capacity utilization index edged down five points to -5.7, and the shipments index plunged from 0.1 to -15.4.
The decline in new orders came alongside a surge in prices as raw materials costs rose to 13-month highs…
That has the stench of stagflation lathered all over it.
Also worse than reported: employment numbers. “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000.”
We first have to go back to December 2022, when we reported something shocking: as part of its data analysis of the “more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program”, the Philadelphia Fed found that the BLS had overstated jobs to the tune of 1.1 million! This is what the Philadelphia Fed wrote in its quarterly Early Benchmark Revision of State Payroll Employment report at the time:
Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read more about our methodology. Learn more about interpreting our early benchmark estimates.
So what did this “more accurate”, “more comprehensive” report find? It found that…
In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth of 1,047,000 jobs for the period.
Lots of detailed analysis snipped.
Putting it all together, we now know – as the Philly Fed reported first – that the labor market is far weaker than conventionally believed. In fact, no less than 800,000 payrolls are “missing” when one uses the far more accurate Quarterly Census of Employment and Wages data rather than the BLS’ woefully inaccurate and politically mandated payrolls “data”, and if one looks back the the monthly gains across most of 2023, one gets not 230K jobs added on average every month but rather 130K.
Of course, none of that paints Bidenomics in a flattering picture, because while one can at least pretend that issuing $1 trillion in debt every 100 days to add 3 million jos per year is somewhat acceptable, learning that that ridiculous amount buys 800,000 jobs less is hardly the endorsement that the White House needs.
I think I link a story like this every year: “California Leads Among U.S. States Sending People to Texas in 2022. Florida and New York combined sent fewer people to Texas than California.” Leave any leftwing politics behind when you move…
California has a $55 billion deficit. But don’t worry, for the 24-25 fiscal year, it’s a $73 billion deficit.
A Russian-backed “propaganda” network has been broken up for spreading anti-Ukraine stories and paying unnamed European politicians, according to authorities in several countries.
Investigators claimed it used the popular Voice of Europe website as a vehicle to pay politicians.
The Czech Republic and Poland said the network aimed to influence European politics.
Voice of Europe did not respond to the BBC’s request for comment.
Czech media, citing intelligence sources, reported that politicians from Germany, France, Poland, Belgium, the Netherlands and Hungary were paid by Voice of Europe in order to influence upcoming elections for the European Parliament.
The German newspaper Der Spiegel said the money was either handed over in cash in covert meetings in Prague or through cryptocurrency exchanges.
Pro-Russian Ukrainian oligarch Viktor Medvedchuk is alleged by the Czech Republic to be behind the network.
Mr Medvedchuk was arrested in Ukraine soon after the Russian invasion, but later transferred to Russia with about 50 prisoners of war in exchange for 215 Ukrainians.
Czech authorities also named Artyom Marchevsky, alleging he managed the day-to-day business of the website. Both men were sanctioned by Czech authorities.
“$100M missing from Bay area trust fund management company. A Bay area father who counted on a local non-profit to handle a trust fund designed for his daughter’s long-term care feels duped.” And this is a trust for special needs kids.
The radical leftists in control of Baltimore City Hall have plunged the metro area just north of Washington, DC, into apocalyptic levels. We advise readers to entirely avoid the metro area as violent crime spirals out of control.
Failed social justice reforms, defunding the police, and widespread mistrust of the police have resulted in a skeleton police force that will no longer be able to protect residents in some regions of the city.
Fox Baltimore reported last Tuesday that only three police officers were on duty for the Southern Police District, which includes more than 61,000 residents.
Joe Lieberman, RIP. One of the least reprehensible Democratic senators of the last 30 years or so. But I still remember this:
Don’t click on this link unless you want to plumb the depths of human depravity. Noteworthy: “He and his husband.”
Stellantis, AKA The European Monster That Ate Chrysler, just just laid off a whole bunch of white collar workers. Note their mention of focusing on “implementing our EV product offensive.” Oh yeah, they’re boned.
Florida Governor Ron DeSantis declares victory over Disney, as the latter has dropped their lawsuit over the the elimination of their special district status.
Sean Combs, AKA “Puff Daddy,” AKA “Diddy,” raided by the FBI. “A source close to the investigation told NBC News that the raid was connected to allegations of sex-trafficking and sexual assault and the solicitation and distribution of illegal narcotics and firearms.” “Source close” caveats apply.
The federal government is going to allow a shuttered nuclear power plant to be restarted. “The federal government announced that it would provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan. NJ-based Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it, but with support from the state of Michigan and the Biden administration, the emphasis has shifted to restarting the nuclear power plant by late 2025 instead.” Not wild about the loan part, but restarting America’s nuclear energy growth is long overdue.
Used Japanese homes are worthless Not just because of the shrinking population, but because they’re designed to be.
The Critical Drinker is not impressed with the Road House remake. “The Patrick Swayze original wasn’t exactly peak cinema. It was dumb and over-the-top and silly, and I don’t imagine people were exactly crying out for a remake. But damn, man, it’s like Citizen Kane compared to this version.”
School tries to ban American flag from truck. Result: Two tons of Murica.
Twitch is cracking down on streams that “focus on intimate body parts.” After watching this, I have one question: Where exactly did the lady featured obtain her “automatic butt jiggler?”
Feel-good crime aftermath story:
Dog shot during the robbery given a warm send off by hospital staff after undergoing multiple surgeries..🐕🐾🥺🙏❤️ pic.twitter.com/OnSjqmRt2u
How severe? How about $105 billion drop in loans in just two weeks.
“This credit crunch greatly increases the chances that America is going to have a deflationary recession or depression at some point in 2023. And, in fact, we could already be in it.” Ya think?
“We’re going to see the unemployment rate start to spike in America in the second half of 2023, In fact, we’re already seeing a big increase in unemployment claims data from the Federal Reserve shows that continued unemployment claims has surged since September.”
“We’re seeing a big surge in mortgage defaults right now across America, particularly on what’s called FHA mortgages. FHA mortgages are these first-time home buyer loans that the US government sponsors and allows people to only put three to five percent down. Well, these loans now have a 12% default rate in the most recent month of February 2023.”
Debt-to-income ration is now higher than it was at the pre-subprime meltdown peak in 2008.
“The Biden Administration has been very aggressive in wanting to expand mortgage access to low-income borrowers who can’t afford these mortgages. And they do this under the guise of expanding the benefits of home ownership to everyone, but really what they’re doing is they’re saddling at-risk economic households with a lot of debt near the peak of a housing bubble.”
“When banks tighten the belt and businesses can no longer get loans, businesses have to shut down, or what businesses have to do is, they have to start liquidating their holdings and taking whatever cash they have and use it to pay expenses. This is actually a concern of mine.”
“This bank credit crunch which is occurring right now could cause even more bank runs in the future” as people pull money out of the bank to cover expenses.
Quantitative tightening is back on.
“Mortgage application demand is on par with what we saw basically in the worst of the last housing crash in 2008, 2009, 2010, and so, no, there is no recovery.”
“The regular home buyer is still out of the housing market and is not returning.”
“The money supply in America is contracting…every other time in history it contracted, which was four times, we had a depression, a panic and a banking crisis.”
Cheerful enough. But if you’re a car dealer, things are even worse:
Banks are cutting off backing loans and providing credit to dealerships.
Not just used car dealers, but even national brand, nameplate dealerships.
This all started back in 2020, when banks started lending way too much money on cars that simply aren’t worth it, to consumers that simply couldn’t afford these payments, and shouldn’t have got the car in the first place…Let’s fast forward to 2023. We’re seeing record high repossession rates, and we’re seeing record high portfolio sell-offs, where people are just liquidating their paper because they don’t want to take on the risk of all these really bad auto loans, because they owe too much money. People are not making payments and they see the value of cars going down.
The fewer banks dealers can pit each other against for loan terms, the higher the interest rate consumers have to pay.
Dealers (not the banks) are also the ones who get screwed if a customer misses their first through third car payment.
Texas car dealer: “He was floored because he sells a lot of trucks between $45- and $65,000 trucks. Four of his banks told him that they’re no longer lending over twenty five thousand dollars.” (Previously.)
“I promise you this: it’s only gonna get worse.”
But wait! It gets worse!
“Capital One is going to start pulling their floor plans from dealers.”
“Floor plans” are the lines of credit dealers use to purchase cars to populate their lots, even the big nameplate dealers.
“Dealers are overexposed right now. They have paid way too much for their inventory and now they are having a hard time selling it.”
“It is so much harder now than it has been in the last two years to get people approved for loans to be able to sell these vehicles.”
“[Banks] do not want to get stuck holding the bag on these cars.”
“Dealers have been stupid. They have overpaid and they have too much inventory right now.”
“Some of these dealers, if they’re having cars 60, 90 days and maybe they’re getting a little bit behind on their payments [the] floor plan company will actually go to these dealers lots and they will take these cars that have been sitting too long, they’ll take them to the auction.”
“If they didn’t have the cash, the liquidity, to begin with, then they have to start liquidating cars, and they have to liquidate them fast to be able to pay their flooring lines…if they lose these flooring lines, they might as well not be in business, they don’t have the cash to be able to buy more inventory to be able to sell it to make more money.”
Banks pulling their floor lines could potentially crash the whole car market.
Things are going to get worse for car dealers before it gets better, and six months from now might be a great time to buy a car, assuming you’re not too busy shooting starving looters trying to steal your canned goods…
As I’ve been expecting a glut of car inventory due to inflation, rising interest rates, and all the demand destruction of the Biden Recession, I’ve been paying more attention to the car market just in case dealers had to liquidate new cars at absolute fire sale prices and I could swoop in and take advantage. So far that hasn’t happened, and prices haven’t behaved the way I’ve expected. (Used care prices are rising because inventory is tight despite dealers overpaying in 2022?)
But one thing I have noticed: Pickup truck prices have gotten absolutely insane.
Pickups used to be the steady, dependable, unglamorous vehicles of ordinary blue collar Americans. Lately, car makers seem to have turned them into cash cows by pricing them like luxury goods for rich people.
As the Ford F-series is the most popular pickup truck, I though I would look at the prices there. The average selling price for a 2023 Ford F-150 is an eye-watering $82,395. Given the rule of thumb that you should never pay more than a maximum of 35% of your yearly income for a new car, which means that buyers should be making $235,000 a year to afford a new F-150. That’s not “HVAC Repairman” money. Hell, it’s barely “guy who owns his own HVAC shop” money. And this despite Ford having such quality control problems that they’ve issued a slew of recalls.
Assuming I was insane enough to buy a new Ford F-150 at the average selling price, and no down payment, I would be looking at $1,521 in monthly payments, or more than I was paying for my home mortgage until a few years ago. (Thanks to rising tax valuations and insurance, now it’s just a little more than that. My car has long been paid off.)
Ford and other auto makers are pricing their traditional customers out of the market by making pickup trucks luxury goods. Just as in the 1970s, American car manufacturers are pricing themselves out of the market and are inviting foreign manufacturers to swoop in and snatch market share from them.
Here Zach and Ray of Car Edge on how insane Ford’s pricing has gotten (and the F-150 is far from the only Ford vehicle that prices have soared on).
“What the hell is wrong with you people?”
“That’s not an average price for an average person!”
Remember the post on how Alex Jones horribly misrepresented a video on Tyler “Hoovie” Hoover’s trouble with a Ford F-150 Lightning EV pickup truck? Well, there’s a follow-up:
It turns out that it isn’t just towing that drains the F-150 Lightning EV’s battery at an alarming rate. In mild winter weather (37°F), he found the Lightning using up 120 miles of estimated range in a mere 60 or so miles. “Towing nothing! It’s just cold outside! What!?!”
Teslas can suffer from the same problem, but even by that standard, the Lightning loss of range seems pretty extreme.
This is yet another example of why our urban elites decreeing that everyone should drive EVs to phase out gasoline-powered cars is foolhardy. EVs may be adequate for an urban commuting environment for people who have garages in which they can recharge them overnight, but is deeply unrealistic for people who need to do lots of driving in a single day, or need to haul around a lot of equipment or a trailer, or just any country driving in general.
And the F-150 Lightning EV seems unsuitable for, well, just about any real pickup truck tasks. Unless you live in Hawaii, southern Florida or the Rio Grande Valley, and even then there are better options.
Sidenote: At the end of the video, Hoover replaces the Lightning with…a Hummer EV! I thought the Hummer brand had been sold to China a decade ago, but evidently that deal fell through, and GM has evidently kept the brand dormant until recently.
It’s more than a little ironic that a 9,000 pound behemoth (the battery alone weighs more than a Honda Civic) with a nameplate treehuggers used to treat as synonymous with evil now counts as “green.”
