September 5
Iran
US forces struck three Iranian oil tankers on Saturday, including two near Iran’s coast and one off Kharg Island deep in the western Persian Gulf, roughly 300 miles northwest of Hormuz, a few days after similar attacks on two NITC tankers off Jask.
AlJaz
US says it struck 3 Iranian oil tankers after US Navy warships attacked
U.S. Military Attacks Private Iranian Assets – Expect Iran To Respond In Kind | Moon
The three tankers the U.S. has hit instead are not military targets. There is no such thing as an “IRGC oil tanker”. The Iranian Revolutionary Guards Corps isn’t a shipping company. All three ships are civil carriers. They were unarmed. None of them was attempting to break the U.S. blockade or in any way involved in military activities. None of them was in any way a justifiable military target. Why does this matter? The U.S. military is (again) disregarding the rules of war.
BTC
$80.048 at 13:36 Sat
$79,672 at 9/04 close
News
Protests by groups of masked men on roads around the English port of Dover, the main hub for ferries crossing to France, were disrupting traffic on Saturday, police and port authorities said.
New Map of World
The UN General Assembly has voted to replace the traditional world map with one that more accurately reflects the size of Africa. The "Correct the Map" resolution, sponsored by Togo and backed by African Union (AU) members, passed with the support of 164 nations, including France and the UK. The United States was the only nation to vote against it - and there were six abstentions.
CPI report next Friday (Sept 11) remains the key risk event
79672 Other key data includes Michigan consumer sentiment and existing home sales.
The Fed rate decision as entirely dependent on the CPI report. If that shows continuing progress in inflation coming down, then the Fed holding. | Zero
The year-over-year CPI rate has slowed for the last two months and looks to have slowed a little further in August | Marc
Given the base effect, a 0.2% increase last month would see the year-over-year rate slip to 3.3% (from 3.4%). It peaked in May at 4.2%. The same is generally true of the core rate. The year-over-year rate has fallen in the past two months from 2.9% to 2.5%. A 0.2% increase in the core rate, which is its average this year, would allow the year-over-year rate to slip to 2.4%. It has not been lower than that in more than five years.
Peak Digest
Today’s Digest covers US fiscal crisis and gold, Bessent reforms, food risks, Baltic shipping rates, LNG and oil markets, Russian strike on Ukraine leadership, Norway ship seizure, GPT-6 AGI, and Clancy mistrial.
Doug Noland CBB Weekly
Unhinged Friday. I don’t recall a period when financial conditions indicators and risk premiums were so generally detached from underlying market, financial, economic and geopolitical risks. It’s fascinating. Most financial conditions indicators point to confidence that the fix is in through the midterms. A new degree of complacency. And with elections now only two months away, markets can begin to ponder the post-midterm landscape. I suspect we are these days seeing the President and administration’s best behavior. Risks are rising that he goes completely off the rails.
The Vaccine Cartel | Focal
Could you imagine a business where you make a product and governments mandate that all their citizens take it and you are free of any product liability? If not covered by insurances, governments will buy it directly from you. That is the vaccine business, otherwise known as the “vaccine cartel.”
Among white women ages 18 to 29 who identified as liberal, 56.3% reported that a doctor or other health-care provider had diagnosed them with a mental health condition. For white moderate women of the same age, the number was 28.4%. For white conservative women, 27.3%.
Left-wing terrorism is a serious problem in the United States
Groups like Jane's Revenge consider terrorism a legitimate form of protest. Other sites "dox" ICE agents, providing personal information on immigration-enforcement officers to allow activists to harass them at home - or to firebomb their homes, if they take inspiration from groups like Jane's Revenge. This is not protesting, and it's not certainly not democratic: These are attempts by a radical fringe to do through intimidation and violence what they can't do at the ballot box.
JB Shurk
Freedom Is Much More Important Than Democracy
Democracy is dangerous without guardrails. Unless a society has a strong sense of moral virtue that fosters personal discipline, duty, and honor, base selfishness becomes the driving motivation behind all political action. Unless certain constitutional protections exist to safeguard each individual’s inviolable rights, democratic majorities devour those rights whenever expedient.
Kunst
Whenever a lawfare ninja of the Democratic Party utters the phrase “our democracy,” you must know that they are completely full of shit. For sure, they do not mean anything remotely related to an American commonweal, as understood by people of sound mind and good faith. What they mean by “our democracy” is the state as a racketeering operation run for the sole benefit of their party members, along with the ruthless power to annihilate their opponents and critics.
Debt Rattle
Trump Ambassador Vows NATO-Like Reforms To UN: ‘Clean This Place Up’
Becoming so anti-Israel that you’re pro-Muslim. It’s a trap that’s been set for you too.
Volkswagen is a case study in self-destruction as a result of EU ‘climate’ politics
Tesla is now worth MORE than all other publicly traded automakers combined
Tesla Robotaxi rumored at $30K. I’m not buying a car. I’m hiring a 24/7 employee that never calls in sick, never asks for a raise, and parks itself. Buy one. Watch the deposits. Buy another. The future just clocked in. So did I.
Glenn Greenwald
The Fall of Brazil’s Tyrannical Judge May Be Imminent: Moraes and His Sleaze Are Exposed
Moraes’ conduct is so unprecedentedly sleazy and corrupt that it is difficult to report without provoking understandable doubt. How could it be possible that a democratic country is tolerating, for even one day, a Supreme Court judge remaining in power if his personal corruption and grave abuses of power are really this manifest? Over the past 48 hours, Brazil’s leading newspapers, previously virtually unanimous in their support of Moraes, have demanded his immediate resignation.
The Lindsay Clancy Jury Was Tasked With an Impossible Question | Reason
Absent clairvoyance, how on earth was a jury supposed to know which was more likely to be true? All the evidence in the world cannot transport a juror into Clancy's mind during the moments she killed her children. The distinction matters. Contrary to many popular narratives, mental illness itself is legally insufficient to acquit someone by reason of insanity, the defense Clancy raised at trial. A sociopath knows murder is immoral; he just doesn't care. An individual who is profoundly depressed may take a life in a fragile state, but she still knows it is wrong.
Psychosis is a term for symptoms that happen when a person has trouble telling what’s real from what’s not.
It can include hallucinations (hearing voices or seeing things that aren’t there) and delusions (strong false beliefs), and it’s usually treatable with medication and other approaches
Insta
“IS THIS THE NEW ME TOO MOVEMENT?” “An Illinois mother allegedly hanged her 2-year-old son that she described as the ‘anti-Christ’ — hours after discussing the Lindsay Clancy case with friends….”
Lindsay Clancy mistrial is really a step backward for womankind
Growing up, we were told we could do anything. We could be an astronaut, an engineer, a surgeon, or even the president. Now, apparently, the game is off. Do you want a space shuttle piloted by a woman who could experience such extreme hormonal mood swings that she could snap and murder everyone else on board?
Success Academy Sues New York State For Suppressing AP Test Scores
The suit says Rosa, at the behest of the teachers' union, blocked the College Board from releasing AP test data to U.S. News & World Report for use in its high school rankings. "Fewer than 25 percent of high school students nationally pass at least one AP examination by the time they graduate. By contrast, 95 percent of Success Academy's 2026 graduating class passed three or more AP examinations, 79 percent passed five or more, and 60 percent passed seven or more," the lawsuit says.
Mkts 2Y 10Y 30Y
WTI crude prices surged $8.08 (9.7%) this week to $91.48 – with gasoline futures up another 5.4%. | CBB
Diesel prices surged to a record $5.85 a gallon this week, up 67% y-t-d.
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