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Friday, June 13, 2025

Wall Street Landlords



A breakdown of Congressman Ro Khanna’s Stop Wall Street Landlords Act and what he means by “Wall Street landlords”:

ЁЯПЫ️ What is the Stop Wall Street Landlords Act?

This proposed legislation (introduced in the 117с╡Ч╩░ Congress as H.R. 9246 on October 28, 2022) aims to discourage large investors—those with over $100 million in assets—from purchasing and renting single-family homes (1–4 units). Its key provisions include:

  1. Denying tax breaks:

    • Bars large investors from claiming deductions on mortgage interest, insurance, and depreciation tied to single-family homes (congress.gov, yieldpro.com).

  2. Imposing a hefty excise tax:

    • On sale or transfer of these properties, matching the full sale price of the home (congress.gov).

  3. Prohibiting access to government-backed financing:

  4. Introducing a “neighborhood homes tax credit”:

Status Update:

  • Introduced in October 2022; referred to committees but died on January 3, 2023, at the end of the 117с╡Ч╩░ Congress (billtrack50.com).

  • Khanna has since reintroduced the bill multiple times and continues to push for its passage (khanna.house.gov).

ЁЯПж Who are “Wall Street landlords”?

Khanna uses the term to describe large institutional investors—like private equity firms, hedge funds, and real estate investment trusts (REITs)—that:

  • Buy up large blocks of single-family homes, often in bulk;

  • Rent them out as investment properties;

  • Leverage governmental tools such as Fannie Mae or Freddie Mac financing, using taxpayer-backed loans;

  • Sometimes neglect property upkeep or drive up rents, putting ordinary buyers and tenants at a disadvantage (khanna.house.gov, vox.com).

In his words, these “landlords” are “scooping up housing in working-class neighborhoods and holding them for appreciation,” turning potential homeowner opportunities into rental investments (notus.org).

ЁЯОп Why it matters

  • Homeownership barriers: Khanna argues that institutional investors artificially inflate home prices, making it harder for first-time buyers to compete (vox.com).

  • Policy shift: The bill aims to remove government support from corporate property speculation, while also encouraging owner-occupied construction in neglected areas (vox.com).

  • Not a supply fix: Khanna acknowledges this measure alone won’t solve the housing crisis—but sees it as a necessary piece alongside boosting housing supply and down-payment aid (vox.com).

✍️ Summary

✅ Goal ⚙️ Mechanism
Reduce institutional buying Deny tax breaks & impose full-price sales excise tax
Limit access to federal mortgage support Bar Fannie/Freddie/Ginnie aid
Encourage owner-occupied housing Create neighborhood tax credits

“Wall Street landlords” are large investors snapping up single-family homes, often with taxpayer-backed financing, making it more difficult for everyday Americans to buy homes or afford rising rents.

Khanna’s bill tackles this “financialization” of U.S. housing—removing incentives for these investors while promoting homeownership and community development.


It’s highly unlikely the Stop Wall Street Landlords Act will pass in 2026 even under full Democratic control—unless it's significantly modified. Here’s why and how it could be adjusted to win support:

ЁЯЪз 1. Political Landscape & Opposition

  • Republican resistance expected: The House’s flip back to Democrats helps proponents—but even within the party, there's hesitation to enact what critics call a blunt, punitive bill (businessinsider.com).

  • Industry pushback: Groups like the American Investment Council argue the bill “won’t help address the real challenges” and could reduce rental housing supply (vox.com).

  • Moderate Dem concerns: Experts, including Urban Institute leadership, have flagged Khanna’s approach as “punitive,” noting that institutional landlords can help finance repairs and fill market gaps (vox.com).

✨ 2. What Needs Modification

To garner unity within the Democratic Party, adjustments could include:

  • Affordability and string requirements: Tie financial disincentives (taxes, deduction limits) to rent caps, tenant protections, or mandates for a % of homes to be kept affordable—this addresses both equity and housing supply.

  • Portfolio caps over blanket bans: Instead of punishing any institutional investor above $100 M, set ownership limits (e.g., max 20 or 50 homes)—mirroring similar proposals in some states (wsj.com).

  • Exempt or soften carve-outs: Create exemptions for mission-driven operators—like housing co‑ops or community lenders—or smaller investors who invest in low‑income areas.

  • Boost supply-side incentives: Expand the current neighborhood homes tax credit into a larger, refundable credit or include direct grants to public/private developers building affordable owner-occupied units, complementing demand-side restrictions (vox.com).

  • Phased/targeted rollout: Implement regulations gradually—first in markets with high displacement risk—making the act more politically viable and research-informed.

✅ 3. Why These Changes Matter

Problem Proposed Fix Why It Helps
Reduces supply risk Portfolio caps + phase-in Maintains investor participation where needed
Risk to renters Affordability strings Anchor regulations in benefits for tenants
Political buy-in Exemptions + flexibility Addresses moderate Dem and pro-housing concerns
Housing affordability Boost supply credits Aligns with wider party priorities—supply + cost relief

ЁЯзн 4. Likelihood of Passage

If passed, a retooled version could find allies in progressive and moderate Democrats by:

  • Framing it as anti-greed + pro-homeownership.

  • Balancing regulation with market solutions.

  • Making it targeted, equitable, and constructive—not broad stroke punishment.

Without these changes, though, the act is still seen as a "warning shot" with a steep hillside to climb (wsj.com, commondreams.org, steinbridge.com, businessinsider.com).

✅ TL;DR

  • Will it pass? Only if Democrats hold both chambers and reframe it to address housing supply, affordability, and investor incentives—for now, it remains stalled.

  • Must-haves for passage: Rent/affordability conditions, ownership limits, gradual rollout, targeted scope, exemptions, and stronger supply-side support.

  • Goal: Make the bill a balanced housing reform—not just a punitive tax—and it may become part of the 2025 housing agenda.




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13: Tariff

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

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13: Trump Polls

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

Russia’s War in Ukraine Is Now ‘Faltering’ Russian casualties reached the one million mark (killed and wounded) on June 12, 2025. .......... Russia has suffered these staggering personnel and equipment losses for minimal territorial gain, with its rate of advance in some areas slower than in World War I. ........... Russia invaded Ukraine in February 2022, but the war started eight years before that when they seized Crimea and parts of the Donbas, with the appearance of “little green men.” ....... While the war of attrition has stalemated both sides, the Russians insist they are winning with their propaganda releases, and the West has generally been swayed by this idea. President Trump insisted that Russia “holds all the cards.” ........ Russia has also lost 10,933 tanks, 22,786 armored fighting vehicles, 51,579 vehicles and fuel tanks, 29,063 artillery systems, 1,413 multiple launch rocket systems, 1,184 air defense systems, 416 airplanes, 337 helicopters, 40,435 drones, 3,337 cruise missiles, 28 ships and boats, and one submarine. ........ “The overall losses of the Russian occupying forces in manpower since the beginning of the full-scale invasion have reached 1 million,” The General Staff added. “More than 628,000 occurred in just the past year and a half.” ........... This year, Russia has been losing on average 1,286 soldiers per day. ...... None of the strategic objectives that Putin had set out to accomplish have been achieved. .......... Putin’s miscalculation of how the West would react has cost him a million casualties, an incredible number of vehicles, aircraft, ships, artillery, and equipment lost, and now NATO is on his border in the strategic Arctic region. ........ "The Russians were so concerned about the plan getting out and Ukraine being able to prepare that they actually didn't tell their soldiers. If you don't tell soldiers what they're about to do, they can't achieve their objective. There were actually some soldiers who thought they were there on an exercise. They didn't actually believe that a military operation was taking place. ....... Efforts to recruit new troops are slowing down, despite the government offering increased monetary incentives equal to three times the national average to join. The public is also opposed to another call-up of reserves. ......... The massive loss of tanks and armored vehicles is unsustainable. Numbers vary depending on the source, but Russia is bringing back old, obsolete Soviet stock for a reason. ........ growing numbers of Russians are unwilling to fight in the war. Some 81 percent of those aged between 18 and 30 oppose another round of mobilization to feed the “meat grinder” at the front ........ In a January 2025 poll, ending the conflict was the top priority for 68 percent of Russian respondents

Trump, on 'No Kings' Protests: 'I Don’t Feel Like a King'
Ban Trump? Top genocide scholar issues dire warning He is deploying troops to occupy opposition-held cities, openly soliciting bribes from the world’s dictators and threatening to annex his democratic neighbors, all while sending people guilty of literally nothing to foreign prisons where they are expected to remain until the day they die. That’s it: that’s the case for treating President Donald Trump, the authoritarian head of an increasingly belligerent nation, like an international pariah. ......... Dr. Gregory H. Stanton, founding president of Genocide Watch, a group that aims to predict and punish targeted mass murder ........... a 10-stage guide to knowing how and when such killings are set in motion (one early sign: those in power likening members of an ostracized class to “animals, vermin, insects or disease”). ..........

Stanton insists that diplomacy with Trump is worse than a lost cause. The American president is no “ordinary adversary” who can be wined, dined and reasoned with, he said, but someone who “stands far outside the bounds of diplomacy and the rule of law between civilized nations.”

........... “He is a Nazi,” Stanton insisted. “Negotiating with Nazis didn’t prove useful in 1939. It won’t now either.” ............ The White House itself says Trump's threats are no joke, with Press Secretary Karoline Leavitt describing Canada as the “soon-to-be 51st state.” Carney’s predecessor also insisted that his American counterpart was deadly serious. ....... Justin Trudeau told business leaders earlier this year, saying he’s after the country’s mineral wealth and that his threats to annex the country are “a real thing.” .............. In 2014, after Russia illegally annexed Crimea, the world’s leading economies decided that it was no longer worth inviting Vladimir Putin to have tea and scones at the now-defunct G8; diplomacy in the decade before, clung to as the only means of preventing another armed conflict on European soil, had through the mirage of steady engagement blinded Western leaders to the possibility of an imminent war and soothed consciences as they deepened their dependence on Russian fossil fuels. ........... Trump is today lobbying for Russia’s return to the G7/G8 because, perhaps, he recognizes something that America’s erstwhile allies do not: that there is no difference, morally speaking, between the White House and the Kremlin, both of which desire a world where lip service to universal truths (and rights and wrongs) is dropped in favor of vulgar, thuggish self-interest, pursued without apology.

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Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

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The Untapped Power of South-South Trade: A New Road to Global Prosperity


The Untapped Power of South-South Trade: A New Road to Global Prosperity

For too long, global trade conversations have revolved around the traditional corridors of the Global North — between the U.S., Europe, China, and Japan. But beneath the radar, a different story is unfolding: the rise of South-South trade. This quiet revolution, fueled by shared experiences, complementary strengths, and rapidly evolving digital tools, could be the single greatest catalyst for shared prosperity in the 21st century.

Learning from Peers, Trading with Peers

In education, it's often said that students learn best from those who are just a step ahead — not from the world’s top experts. The same principle applies to trade. When countries at similar stages of development collaborate, they understand each other’s challenges better and can co-create more relevant solutions. Many Global South economies share similar development timelines, infrastructural needs, and demographic profiles. This common ground forms the perfect basis for mutual growth.

The Case for a Digital African Currency Zone

Africa, for instance, is primed to leap ahead. A continent-wide digital currency zone, powered by mobile money, blockchain, and AI, could overcome many of the problems that plagued earlier monetary unions like the Eurozone. The mistakes of the past don’t have to be repeated when today's tools allow real-time tracking, smart contracts, and decentralized risk-sharing mechanisms.

This could supercharge intra-African trade, reduce dependence on foreign currencies, and increase financial inclusion in ways that physical infrastructure never could.

India's Digital Blueprint: A Global Asset

India’s digital public infrastructure, led by Aadhaar (biometric ID) and UPI (real-time payment interface), may be one of the most exportable governance innovations of our time. Unlike China’s investment-heavy Belt and Road Initiative, India’s "code not concrete" model is lighter, faster, and cheaper to implement — especially across African and Southeast Asian nations that are eager to digitize without taking on unsustainable debt.

Much like how many nations skipped landline phones and jumped directly to mobile, developing economies can now bypass traditional financial infrastructure and leap into the digital future. Indian blockchain companies, working alongside local fintechs, could create an entirely new architecture for South-South payments and remittances.

Labor as Trade: A Forgotten Cornerstone

Trade isn’t just goods and capital — it’s also people. The Gulf-South Asia labor corridor offers a case study in how mobile labor has fueled development on both ends. South Asian workers helped build Gulf megacities; their remittances transformed villages back home. This "trade in labor" model could inspire better immigration reform in countries like the United States, where economic needs clash with nativist politics.

Rather than criminalize undocumented workers, the answer lies in documenting them. Managed migration, seasonal work visas, and bilateral agreements can formalize labor flows — respecting human dignity while boosting productivity.

Recognizing the Growth That’s Already Happened

It’s time we corrected a blind spot in the global narrative. The Global South has not merely waited for development; it has already grown — dramatically. The same three decades that saw China’s rise also witnessed explosive growth in parts of Latin America, Southeast Asia, and Africa. But because it was dispersed and less centralized, it often went unnoticed.

This overlooked momentum is not just real — it’s ripe for acceleration.

Conclusion: A South-South Century

We are standing at the threshold of a new economic age. The old north-south hierarchy is giving way to a horizontal network of collaboration among emerging powers. With digital tools, youthful populations, and a growing confidence in their own models, the Global South is poised not just to participate in globalization — but to redefine it.

Let us not waste this moment. The fastest path to mutual prosperity may well lie in the Global South trading with itself — building a world economy that is fairer, more human, and more in tune with the realities of the majority.

At the end of the classic 1972 film The Godfather, the new don of the family, Michael Corleone, attends a baptism while his men wipe out the heads of the other New York Mafia families—all of them Michael’s enemies, and all intending one day to do him harm. Rather than wait for their eventual attacks, Michael dispatches them himself. “Today, I settled all family business,” Michael says to his traitorous brother-in-law, before having him killed. ............. Tonight, the Israelis launched a broad, sweeping attack on Iran that seems like an attempt to settle, so to speak, all family business. The Israeli government has characterized this offensive as a “preemptive” strike on Iran: “We are now in a strategic window of opportunity and close to a point of no return, and we had no choice but to take action,” an Israeli military official told reporters. Israeli spokespeople suggest that these attacks, named Operation Rising Lion, could go on for weeks. ............ But calling this a “preemptive” strike is questionable. The Israelis, from what we know so far, are engaged in a preventive war: They are removing the source of a threat by surprise, on their own timetable and on terms they find favorable. They may be justified in doing so, but such actions carry great moral and practical risks. ........... Preemptive attacks, in both international law and the historical traditions of war, are spoiling attacks, meant to thwart an imminent attack. In both tradition and law, this form of self-defense is perfectly defensible, similar to the principle in domestic law that when a person cocks a fist or pulls a gun, the intended victim does not need to stand there and wait to get punched or shot.

Middle East airspace shut after Israel strikes Iran, airlines cancel flights Airlines steered clear of much of the Middle East on Friday after Israeli attacks on Iranian sites forced carriers to cancel or divert thousands of flights in the latest upheaval to travel in the region. ......... Proliferating conflict zones around the world are becoming an increasing burden on airline operations and profitability, and more of a safety concern. Detours add to airlines' fuel costs and lengthen journey times. ........ Israel on Friday said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. .......... FlightRadar data showed airspace over Iran, Iraq and Jordan was empty, with flights directed towards Saudi Arabia and Egypt instead. ....... With Russian and Ukrainian airspace closed due to war, the Middle East region has become an even more important route for international flights between Europe and Asia.

Empty Country (novel)
Trump’s Default: The Mist Of Empire (novel)
The 20% Growth Revolution: Nepal’s Path to Prosperity Through Kalkiism
Rethinking Trade: A Blueprint for a Just and Thriving Global Economy
The $500 Billion Pivot: How the India-US Alliance Can Reshape Global Trade
Trump’s Trade War
Peace For Taiwan Is Possible
Formula For Peace In Ukraine
The Last Age of War, The First Age of Peace: Lord Kalki, Prophecies, and the Path to Global Redemption
AOC 2028: : The Future of American Progressivism

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13: Iran

Is Google about to destroy the web? the current chapter of online history is careening towards its end. Welcome to the "machine web". ......... An estimated 68% of internet activity starts on search engines and about 90% of searches happen on Google. If the internet is a garden, Google is the Sun that lets the flowers grow. ....... "For those who want an end-to-end AI Search experience, we are introducing an all-new AI Mode," he said. "It's a total reimagining of Search." ......... People use Google Search five trillion times a year – it defines the shape of the internet. AI Mode is a radical departure. Unlike AI Overviews, AI Mode replaces traditional search results altogether. Instead, a chatbot effectively creates a miniature article to answer your question. As you read this, AI Mode is rolling out to users in the US, appearing as a button on the search engine and the company's app. It's optional for now, but Google's head of Search, Liz Reid, said it plainly when launching the tool: "This is the future of Google Search." ......... Here's the problem critics foresee – AI Overviews already sends much less traffic to the rest of the internet, and many fear AI Mode could supercharge that trend. If this comes to pass, it could crush the business model that's fuelled the digital content you've enjoyed for almost 30 years. ......... Google disagrees. In fact, the company tells the BBC that AI Overviews have been good for the web, and AI Mode will be no different. Google insists these features send users to "a greater diversity of websites" and the traffic is "higher quality" because people spend more time on the links they click. ......... AI Overviews and AI Mode both include links to sources ........ AI Overviews appear to cut the amount of traffic Google sends to websites – known as the "click-through rate" – by between 30% and 70% ........ some 60% of Google searches are now "zero-click", ending without the user visiting a single link. ......... the amount of content on the web has grown by 45% in the last two years, and that's excluding spam. "We see this in the data," he said. "People are still very actively clicking through to the web." ......... AI Overviews have caused impressions to rise 49% across the web, but clicks have fallen 30% ............ We may, some believe, be at the dawn of a new paradigm, a future you might call the "machine web". One where websites are built for AI to read rather than for humans, and reading summaries by chatbots becomes a primary way we consume information. ............. Demis Hassabis, head of Google DeepMind, the company's AI research lab, said in a recent interview that he believes publishers will want to feed their content directly to AI models to facilitate this and some may not bother putting that information on websites for human beings to read. ......... One possibility is direct compensation. The New York Times is licensing content to Amazon for its AI. Google pays Reddit $60m (£44m) a year to train AI on user data. Dozens of giant publishers and media conglomerates have reportedly signed similar deals with OpenAI and others. .......... HouseFresh has pivoted to YouTube. ......... ​​"The web is still there and it's still open. If Google goes this way, some bright spark will come up with a new way of making money. ........ There is little doubt AI Mode is an impressive piece of technology. It deploys a "fan out method" where the AI breaks your question into subtopics and does multiple searches simultaneously. Google says this lets AI Mode recommends more diverse sources, produce deeper answers to more complex queries, dives deeper – and you have the ability to ask follow-up questions. ..................... Google chose to "silently update" its rules, so participating in Google Search means websites automatically give their permission to use content for AI. Publishers can opt-out – but only if they opt-out of search results altogether. .......... Some research suggests AI hallucinations are getting worse as their technical abilities improve. Even Sundar Pichai said on a podcast interview that hallucinations are "an inherent feature" of the technology – though Google is using its traditional search methods to ground AI responses, and the company says accuracy is improving. Google tells the BBC the vast majority of AI search responses are factual, and their accuracy is on par with other Search features. ............. Still, early slip ups – like the times when Google's AI Overviews told people to eat rocks and add glue to pizza recipes – linger in the public consciousness.

Appeals court temporarily allows Trump to keep National Guard in LA
Scale AI’s Alexandr Wang confirms departure for Meta as part of $14.3 billion deal
Exclusive: Foxconn sends 97% of India iPhone exports to US as Apple tackles Trump's tariffs
Mass drone raid on Crimea, explosions reported across peninsula
Trump tells Iran to make a nuclear deal "before there is nothing left"
Gavin Newsom's legal win over Trump lasts only hours
Stellantis bankrupt, Trump tariff war fueled its fall

'A question of time': Economists explain why the worst is yet to come in Trump’s economy why prices in the U.S. haven't really soared yet but are likely to do so in the months ahead ....... They argue that the impact will be much more significant this summer." ....... consumers are fed up with inflation and aren't going to be happy to see even more of it.

Judge temporarily bars Trump from deploying National Guard troops in Los Angeles
Trump mulls kneecapping SpaceX following explosive public Musk feud
'I have to go through hell': Trump complains about 'No Kings' protests during his parade

Ban Trump? Top genocide scholar issues dire warning Stanton insists that diplomacy with Trump is worse than a lost cause. The American president is no “ordinary adversary” who can be wined, dined and reasoned with, he said, but someone who “stands far outside the bounds of diplomacy and the rule of law between civilized nations.” ....... “He is a Nazi,” Stanton insisted. “Negotiating with Nazis didn’t prove useful in 1939. It won’t now either.” ......... It is not easy to accept that “it” is actually happening here — that the descent into right-wing authoritarianism could be so rapid, the institutions of democracy so weak, the orchestrator of it all such an obvious and venal perversion of the American ideal — and harder still to quit one’s economic dependence on a superpower, however much it may be imploding. But, a decade from now, it might also be hard to believe that countries didn’t pursue their own rational self-interest and isolate a man who befriended their enemies, threatened their homes and sent their citizens to Guant├бnamo Bay. ...... “We will not allow people to enter our country who wish to do us harm,” Trump said when issuing his latest, sweeping travel ban, barring people from a dozen countries from ever setting foot in the former land of the free. The rest of the world, recognizing that fascism entails projection, might now wish to consider their own security.

The Real U.S.-China Trade Fight Isn’t About Exports U.S.-China trade talks are focused on export controls and tariffs, but at a deeper level they are about the future of the Pax Americana formed after World War II. A corporate-driven globalization emerged as businesses adapted to U.S. hegemony, currency dominance, and protectionism. At stake now is whether China can follow the same path as the U.S., even while the American public begins to rebel against that model. ............ Pax Americana transformed global commerce through a distinct form of economic integration built on foreign direct investment, transfer pricing, and intrafirm trade—the movement of components, services, and intellectual property among subsidiaries of the same corporation. As Europe and Asia rebuilt, U.S. companies found their exports threatened by a strong dollar and foreign protectionist measures. Their solution was to invest directly in foreign production facilities. Illustrating this shift, General Motors, Ford Motor, and IBM established manufacturing operations throughout Western Europe, reducing exchange rate challenges and trade barriers while maintaining corporate control. This approach prioritized ownership over traditional trade......... It also necessitated intrafirm trade. Today, about one-third of global trade flows within unified corporate networks rather than among independent entities, forming the hidden circulatory system of modern capitalism.......... GM exemplifies this trend. Components designed in Michigan are manufactured in Ontario, assembled in Mexico, and distributed throughout North America. What would have been exports in earlier eras now move invisibly within GM. This operational flexibility is a structural resilience that export-focused firms cannot fully replicate, particularly in periods of exchange-rate volatility. The champions of corporate globalization have effectively insulated themselves from currency fluctuations. ........ Most U.S. foreign direct investment flows to other advanced economies—Germany, Japan, the United Kingdom, and Canada—rather than low-wage destinations. These investments prioritize proximity to customers, market access, technological ecosystems, and stability. ........ The 1985 Plaza Accord engineered a sharp appreciation of the yen against the dollar, with the exchange rate moving from 240 yen per dollar to JPY150 and reaching JPY80 a decade later. Simultaneously, the U.S. and Europe implemented export restraints, antidumping duties, and local content requirements against Japan’s imports. .......... Japanese firms responded with a massive foreign direct investment campaign. Toyota Motor, Honda Motor, and Sony Group established manufacturing operations in the U.S. and Europe, transforming from exporters into global producers with distributed networks. Like their American predecessors, Japanese companies mastered intrafirm trade and transfer pricing to maintain competitiveness despite currency and trade challenges. Their expansion was particularly strategic in its geographic targeting, establishing production hubs that could serve entire continental markets while satisfying local-content requirements. ........ Global trade governance never fully caught up. The 1947 General Agreements on Tariff and Trade focused on reducing tariffs on goods among independent economies but struggled to address the complexities of multinational networks. The World Trade Organization replaced the GATT in 1995 with a mandate covering services, IP, and investment measures—partial recognition that trade increasingly occurred within corporate structures. ......... Corporations operate globally; tax authorities regulate locally. Until that mismatch is resolved, intrafirm trade will remain a source of political and fiscal strain. This tension fuels skepticism about globalization, despite the efficiency gains and innovation that integrated production networks deliver. .............. The second involves China. The scale of its exports is destabilizing. Yet the U.S. is directly and indirectly blocking it from pursuing a comprehensive direct investment strategy. This may be a more meaningful containment of China than the more than 60 U.S. military bases in the region. .......... John Maynard Keynes opposed the economic bleeding of Germany after World War I not out of any affection for Berlin, but out of an appreciation for the likely consequences. ...... One need not believe in the Thucydides Trap to see that trying to asphyxiate China isn’t going to end well. It isn’t about ideological compatibility or strategic competitiveness, but realpolitik.

Trump Issues Grave Warning to Iran After Israeli Strikes President Donald Trump has issued a stark warning to Iran, urging the country to accept a nuclear deal to avoid further “planned attacks,” citing that “there has already been great death and destruction, but there is still time to make this slaughter… come to an end.” ........ "I told them, in the strongest of words, to ‘just do it,’ but no matter how hard they tried, no matter how close they got, they just couldn’t get it done,” Trump said. “Certain Iranian hardliners spoke bravely, but they didn’t know what was about to happen. They are all DEAD now, and it will only get worse." ...... Trump added that Iran was told how “the United States makes the best and most lethal military equipment anywhere in the World, BY FAR, and that Israel has a lot of it, with much more to come. And they know how to use it.”

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Imagine A No Escalation Scenario: Iran, Israel

Imagine a scenario where Iran agrees to forgo all nuclear enrichment on its own soil, instead importing nuclear fuel from a pre-designated country for its energy needs. In this scenario, there is no escalation following the Israeli strike that began on June 13.



On June 14, 2025, Iran announces a historic policy shift, agreeing to halt all nuclear enrichment activities on its soil in exchange for importing enriched uranium from Russia, a pre-designated partner under a tightly monitored international agreement. The decision comes in the wake of Israel’s limited strike on June 13, targeting suspected nuclear facilities in Natanz, which had raised global fears of escalation. Iran’s leadership, facing internal economic pressures and international sanctions, opts for de-escalation to avoid further conflict and secure energy needs.

The agreement, brokered by the IAEA and backed by the UN Security Council, stipulates that Iran will receive low-enriched uranium (up to 3.67% purity) for its civilian nuclear energy program, primarily to fuel the Bushehr reactor. Russia, as the supplier, commits to providing the fuel under strict IAEA oversight, with regular inspections to ensure compliance. In return, Iran agrees to dismantle its enrichment centrifuges and allow unprecedented access to its nuclear sites, effectively freezing its ability to produce weapons-grade material. The deal includes a clause for snap inspections and satellite monitoring to prevent clandestine activities.
Israel, though initially skeptical, refrains from further strikes as the United States and European allies pressure Prime Minister Netanyahu to give diplomacy a chance. The Trump administration hails the agreement as a “breakthrough for regional stability,” pledging economic incentives for Iran, including partial sanctions relief tied to compliance milestones. Russia, keen to expand its influence in the region, ensures fuel deliveries begin within weeks, while China quietly supports the deal to counterbalance U.S. influence.
By late 2025, tensions de-escalate significantly. Iran’s economy stabilizes as sanctions ease, though hardliners in Tehran face domestic criticism for “surrendering sovereignty.” Israel, while maintaining its vigilance, shifts focus to countering Iran’s proxy activities in Syria and Lebanon. The Middle East avoids a broader conflict, but the arrangement remains fragile, with both sides wary of violations. The IAEA reports no enrichment activity in Iran by early 2026, marking a tentative step toward stability, though trust between Tehran and Jerusalem remains nonexistent.




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