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Tue, 21 Jul 2026 23:15:00 +0000 "Who The F**k Is This?": Jon Stewart Thinks He Discovered Trump's Body Double
"Who The F**k Is This?": Jon Stewart Thinks He Discovered Trump's Body Double
"Who The F**k Is This?": Jon Stewart Thinks He Discovered Trump's Body Double
Authored by Steve Watson via Modernity News ,
Jon Stewart spent a chunk of Monday's Daily Show convinced America had just unlocked a secret presidential spare after spotting a mysterious figure strolling behind President Donald Trump on the tarmac at Joint Base Andrews.
The late-night comic was already deep into his usual routine of roasting Trump when he focused on the appearance of someone who resembled the President in the background of the Trump's gaggle with reporters.
Stewart had been needling Trump for lingering onstage during Spain's trophy celebration after their 1-0 win over Argentina, calling him "Cankles Muldoon" and asking, "What the f*ck are you doing on the stage? It's for the players!"
He then played the clip of Trump telling reporters the tournament was "four times greater than any FIFA ever held," before the president upgraded the claim: "That is probably about five times actually, they're telling me today."
Stewart's response: "How do you hold 'a FIFA'? How could our FIFA be four times greater than any other FIFA? ... Is that what they told you? You know, they're telling you that because everyone around you lies to you because you're a little baby."
Then the host slammed on the brakes.
"What's up with the guy behind Trump? Can we see that again? Can you bring that out? Who the fuck is this guy? Who the fuck is this? Is this... What? Who in the world is it? Oh my God! Is that a back-up Trump? Is that - Wait a minute, wait. Hold on a second."
He kept going, fully committed: "Wait, what? Wait, Who? What? Is that a back-up Trump or is that Trump? Wait, is the one we've been dealing with back-up Trump or is that Trump?!"
The resemblance was close enough that Stewart's brain briefly short-circuited. The man walking the tarmac had the same build, the same hair energy, the same general aura of someone who could probably get away with signing an executive order if no one looked too closely.
Spoiler: it wasn't a body double. It was Viktor Knavs, Melania Trump's 82-year-old father and the president's father-in-law. The Slovenian businessman has been a quiet but regular presence around the Trump family for years, and the two men have always shared a certain physical similarity that becomes especially obvious when one of them is casually strolling into frame behind the other.
Still, Stewart's "backup Trump" theory is too good to fully discard.
Given the number of threats and actual assassination attempts this president has already survived, having a ready-made spare on the payroll doesn't sound like the worst idea in the world.
Full Stewart video below:
VIDEO
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Tyler Durden
Tue, 07/21/2026 - 19:15 Close
Tue, 21 Jul 2026 22:50:00 +0000 "Safeguard Our Homeland": FCC Moves To Ban Foreign Military-Grade Drone Imports
"Safeguard Our Homeland": FCC Moves To Ban Foreign Military-Grade Drone Imports
A little more than a week after we exposed military-grade interceptor drones being openly marketed on Facebook as dual-use technology by a Hong Kong-bas
Read more.....
"Safeguard Our Homeland": FCC Moves To Ban Foreign Military-Grade Drone Imports
A little more than a week after we exposed military-grade interceptor drones being openly marketed on Facebook as dual-use technology by a Hong Kong-based company, FCC Chairman Brendan Carr announced a proposal to prohibit the importation and sale of foreign-produced military-grade drones in the U.S.
"Today, the FCC took additional action to safeguard our homeland. We have proposed banning the sale of foreign, military-grade drones, including those capable of swarming ," Carr wrote on X, adding, "Another step to strengthening and securing America's drone supply chain."
Carr published a public notice in which the FCC is seeking comments on a proposal to prohibit the continued importation and sale of previously authorized foreign-made military-grade drones and critical components to buyers outside the U.S. government, including systems with swarming capabilities.
The notice stated that these dual-use drones "pose an unacceptable risk to the national security of the United States or the security and safety of United States persons"…
Our July 13 report, titled "Why Is China Advertising Insane War Drones on Facebook ", turned some heads when we showed readers just how easy it was to acquire interceptor drones from China.
The Hong Kong seller we spoke to provided a pricing sheet within minutes...
Earlier today, Joint Chiefs of Staff Chairman Gen. Dan Caine warned during a Senate hearing about the dangerous new world in which these low-cost drones are proliferating.
The federal government knows a domestic drone incident involving a threat actor as a question of when, not if. That view is accelerating the race to harden US airspace around military installations , critical infrastructure, mass gatherings and other high-value targets.
Tyler Durden
Tue, 07/21/2026 - 18:50 Close
Tue, 21 Jul 2026 22:00:00 +0000 Cuban President Warns "McCarthyism Is Back" As US Begins Fight Against Marxist Subversion Networks
Cuban President Warns "McCarthyism Is Back" As US Begins Fight Against Marxist Subversion Networks
One day after the US government convened delegations from 65 countries at the Harry S Truman Building in Washington to coordinate act
Read more.....
Cuban President Warns "McCarthyism Is Back" As US Begins Fight Against Marxist Subversion Networks
One day after the US government convened delegations from 65 countries at the Harry S Truman Building in Washington to coordinate action against far-left extremism and Marxist subversion networks across the West, Cuban President Miguel Díaz-Canel responded sharply in a post on X, signaling grave concern that the Trump administration intends to unleash a new era of McCarthyism to combat the "radical left."
"A new and more dangerous version of McCarthyism is back in the United States ," Díaz-Canel wrote on X one day after Secretary of State Marco Rubio, White House Deputy Chief of Staff Stephen Miller, and Treasury Secretary Scott Bessent postured and essentially declared war on the radical left, Marxist groups, and foreign subversion networks.
Díaz-Canel visiting the grave of Karl Marx
Why would Díaz-Canel care about Rubio and Bessent combating the far-left NGOs on US soil?
Well, as a State Department report released on Monday showed, "For more than six decades, the Cuban regime has been the leading sponsor of radical leftism and Third Worldism in the United States ."
We explained in December how Cuba's subversion networks are run, and at the center of the influence network is the now-sanctioned Cuban Institute of Friendship with Peoples , known as ICAP. The organization claims more than 2,000 affiliated solidarity groups across 150 countries.
Former Cuban intelligence agents cited in the State Department report allege that roughly 90% of ICAP personnel are connected to Cuban intelligence operations . So this basically means ICAP functions as the intake valve for the National Network on Cuba (NNOC), a deliberately loose coalition that links 77 left-wing activist organizations, nonprofits, and campaigns while minimizing legal exposure and clear command structures.
Notice that the Democratic Socialists of America are members of NNOC . Also, it is worth noting that the DSA has said they are "partners" of sanctioned ICAP.
It now makes sense why the DSA wants to "destroy America from within"... Cuban communists feel the same way.
Díaz-Canel sees US pressure tightening around Havana as a wake-up call for him and his communist partners . The era of far-left activists and US political leaders participating in workshops with Cuban communist organizations appears to have come to an abrupt end.
The Trump administration's campaign to dismantle foreign-backed influence and subversion networks linked to Cuba and China could significantly weaken Havana's ability to shape radical movements across the American left . With elements of the DSA embracing revolutionary rhetoric that even establishment Democrats have rejected, the effort to expose and disrupt Marxist networks could develop into a rare bipartisan national-security initiative. We suspect that's already underway.
Democrats have become so radical that now lefty Bill Maher is contemplating a vote for JD Vance.
Tyler Durden
Tue, 07/21/2026 - 18:00 Close
Tue, 21 Jul 2026 21:40:00 +0000 This Sex Robot Is Going To 'Teach' Your Kids In Schools
This Sex Robot Is Going To 'Teach' Your Kids In Schools
This Sex Robot Is Going To 'Teach' Your Kids In Schools
Authored by Steve Watson via Modernity News ,
A rural New York school district on the Seneca Nation reservation is set to become one of the first in the United States to place a lifelike humanoid robot in front of high school students.
Starting this fall, Salamanca High School will introduce "Sally," an M-Series robot built by Realbotix, to assist in coding, robotics, and AI classes for 11th and 12th graders.
Sally comes with brown hair, silicone skin, a Western New York accent, upper-body movement, and facial expressions. She remains seated and cannot walk the room. Students will log in with unique identification codes so the machine can recognize them and pick up previous interactions.
The full package - robot plus the accompanying Optio AI tutor platform - cost the district $57,590, a discounted figure below the average New York teacher salary and well under the company's listed starting price near $95,000.
"The Realbotix educational robot will never replace teachers, staff members, or meaningful human interaction," the Salamanca City Central School District stated. Instead, they describe it as an instructional tool loaded only with district-approved curriculum, historical information about Salamanca, and content designed to encourage critical thinking rather than simply spit out answers.
The system reportedly operates offline with no internet connection, collects no personally identifiable information, records neither video nor audio, and transmits nothing back to the company. If asked something outside its knowledge base, it is programmed to reply "I don't know."
Realbotix CEO Andrew Kiguel called the deployment "a landmark moment for both AI and humanoid robotics." He added: "We are moving beyond lab demonstrations and pilots to deliver real, embodied AI directly into classrooms, supporting teachers, engaging students, and proving that advanced robotics can thrive in live educational environments. Salamanca marks the beginning of a new era where humanoid robots and intelligent AI assistants become standard tools in STEM education."
Superintendent Dr. Mark Beehler expressed enthusiasm for giving students "a safe, Salamanca-specific AI tutor" and educators customized tools. The pilot begins with students in the district's Woz ED AI and Robotics pathway - curriculum inspired by Apple co-founder Steve Wozniak - and could expand to roughly 500 high school students if deemed successful.
Students will also interact with digital avatars of the robot on laptops for after-hours tutoring, homework help, and support in multiple languages.
The company behind Sally has a more colorful history. Realbotix previously acquired the parent firm of RealDoll, the well-known manufacturer of hyper-realistic sex dolls and companion robots. Officials stress that the education division operates separately in staff, facilities, and technology, with a planned ownership separation, yet the connection has not gone unnoticed.
Reactions on X captured the skepticism. One popular reply asked bluntly, "Why does the robot have lip injections?" Another observed the contradiction in officials promising robots will never replace teachers while simultaneously noting the machine costs less than a human educator.
Critics pointed to the company's adult-product roots and questioned the wisdom of placing such technology in front of teenagers in an economically challenged community. Homeschool advocates seized on the moment to argue that parents should simply keep their children out of systems experimenting with this level of automation.
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Tyler Durden
Tue, 07/21/2026 - 17:40 Close
Tue, 21 Jul 2026 21:20:00 +0000 Democrats Are Fighting A Civil War, And Bernie Sanders Started It
Democrats Are Fighting A Civil War, And Bernie Sanders Started It
Democrats desperately want to retake the House in November, not just to thwart President Donald Trump's legislative agenda, but to launch countless investiga
Read more.....
Democrats Are Fighting A Civil War, And Bernie Sanders Started It
Democrats desperately want to retake the House in November, not just to thwart President Donald Trump's legislative agenda, but to launch countless investigations under the guise of oversight. However, their most stubborn obstacle to achieving this goal isn't President Trump or the Republican Party. The biggest obstacle actually sits inside their own party. Sen. Bernie Sanders (I-Vt.) has spent this cycle bankrolling primary challengers against sitting Democrats, and the fight has split the party into two camps that can barely stand each other.
Sanders recently announced plans to defeat a sitting House Democrat from North Carolina who belongs to the Congressional Black Caucus. House Democratic leader Hakeem Jeffries called Sanders personally to warn him off interfering in House primaries during a midterm year that could decide control of Congress, CNN reported, citing three Democrats familiar with the previously unreported call. Rep. Greg Meeks (D-N.Y.) sat in on that call and told the outlet that Sanders showed little concern about the warning. The call came just before Rep. Valerie Foushee defeated primary challenger Nida Allam in North Carolina in March. Jeffries later declined to describe the exchange beyond calling it honest.
Sanders sits at the height of his influence in Democratic politics right now, which makes the timing of this civil war particularly inconvenient for a party trying to project unity heading into the fall. The dispute comes down to a simple question: should Democrats run candidates who can actually win swing districts, or candidates who fire up the base and risk losing everyone else? Sanders has chosen one side, and the establishment the other. He has endorsed more than 90 candidates this cycle and helped topple House incumbents in New York City and Colorado. Of the 60 Sanders-backed candidates whose races have concluded, 42 have won, including 10 of 16 federal candidates. Senior Washington Democrats grumble that Sanders is forcing the party to burn money on internal fights instead of saving it for Republicans in November.
Then there's Graham Platner, the Maine Senate candidate Sanders backed and defended even after the New York Times reported allegations of abusive behavior toward women. Sanders kept defending him until after allegations of rape surfaced , which Platner has denied. Sanders withdrew his endorsement only then.
Platner's exit from the race, according to OpenSecrets, put the Democratic Party in a deep financial hole. Platner can't simply transfer his campaign funds to his replacement, and whoever takes his place will ultimately have to overcome a huge cash disadvantage compared to Sen. Susan Collins.
"Bernie has endorsed some flawed candidates recently," Rep. Hillary Scholten of Michigan said. "I think it's really important to look at the judgment that has been exercised. The Graham Platner situation should be a huge warning sign to a lot of voters about what that stamp of approval might mean."
Michigan is where this rift boiled over this weekend , as Sanders held rallies - joined by Rep. Alexandria Ocasio-Cortez - for Senate candidate Abdul El-Sayed and House candidate William Lawrence. Asked whether he's making it harder for Democrats to win in November, the 84-year-old Sanders said no and argued his candidates represent working people rather than wealthy donors. El-Sayed's support for Medicare for All and his criticism of Israel and AIPAC have made him a progressive favorite. At the same time, the party establishment favors Rep. Haley Stevens as the safer bet against likely GOP nominee former Rep. Mike Rogers. Retiring Sen. Gary Peters had planned to stay neutral in the August 4 primary but endorsed Stevens last week instead.
Senate Minority Leader Chuck Schumer has made his preference for Stevens clear. However, he avoided direct criticism of Sanders when asked, saying Democrats would settle on a nominee suited to the state. Rep. Ro Khanna compared Sanders' standing in the party to that of the pope and Barack Obama. Rep. Josh Gottheimer sees something else entirely.
"The DSA, which Bernie's part of, is trying to hijack the Democratic Party, and what you're seeing is people don't want that," Gottheimer said. "The Democratic Party wants to be the Democratic Party, and he's trying to use the Democratic Party as a vessel for socialism, and people don't want socialism."
Lawrence, a 35-year-old democratic socialist and climate activist, brings his own headache. Jeffries and Meeks condemned remarks reported by the Huffington Post in which Lawrence said black political leaders "take the teeth out of the white left" - language Jeffries called deeply disturbing - and party leaders worry a Lawrence win could cost them a must-win Lansing-area seat held by Republican Rep. Tom Barrett. Lawrence apologized on CNN, saying the comments misrepresented his values. The Congressional Black Caucus's political arm is funding ads against him, and Sen. Elissa Slotkin broke her usual neutrality to back former Navy SEAL Matt Maasdam, one of Lawrence's two rivals in the three-way primary along with former U.S. ambassador to Ukraine Bridget Brink. Even Ocasio-Cortez, scheduled to appear at the same Sunday stop, would not say whether she was comfortable campaigning alongside him: "I haven't endorsed in it. I haven't waded into it at all."
Tyler Durden
Tue, 07/21/2026 - 17:20 Close
Tue, 21 Jul 2026 21:00:00 +0000 DOJ Seeks To Rescind US Citizenship Granted To 10 Individuals
DOJ Seeks To Rescind US Citizenship Granted To 10 Individuals
DOJ Seeks To Rescind US Citizenship Granted To 10 Individuals
Authored by Naveen Athrappully via The Epoch Times,
The Department of Justice (DOJ) announced on Monday that it has filed to denaturalize 10 individuals charged or convicted with various crimes, including offenses against minors.
“Under the Immigration and Nationality Act, a naturalized U.S. citizen’s citizenship may be revoked, and certificate of naturalization canceled, if the naturalization was illegally procured or procured by concealment of a material fact or by willful misrepresentation,” the DOJ said in a July 20 statement, adding that the Trump administration was continuing its “largest denaturalization effort ever.”
One of the individuals targeted for denaturalization is Rodriguez Perez, 45, of Cuban origin, who was naturalized as an American in 2018. Prior to obtaining citizenship, Perez engaged in Medicare fraud worth more than $886,694 and concealed this conduct during the naturalization process.
Perez pleaded guilty in the case and was convicted of conspiracy to commit healthcare and wire fraud.
Another individual, Urbano Vazquez Ortega, 53, a Mexican naturalized in July 2017, had sexually assaulted children while being employed as a church priest in Washington . The crimes were committed between 2015 and 2017. Ortega was sentenced to 15 years in prison in 2019.
A third individual, Omar Cantu-Montalvo, 44, from Mexico, was naturalized in December 2005 after claiming in his application that he had never committed a crime. However, Cantu-Montalvo was later sentenced to 100 months in prison by a court for conspiracy to distribute cocaine, a scheme he joined just a few months before applying for naturalization.
Other individuals have been charged with crimes such as carrying a concealed firearm, sexually abusing a minor, misrepresenting identity to secure citizenship, and wire fraud.
“These 10 criminal aliens—including child sex abusers, a $900,000 Medicare fraudster, and a cocaine trafficker—lied their way into U.S. citizenship,” acting Attorney General Todd Blanche said in the statement.
“Each of these individuals lacked the good moral character required by law and procured citizenship through willful misrepresentations and concealment of their crimes. Under President Trump’s leadership, this Department of Justice will continue to aggressively pursue denaturalization to restore integrity to America’s naturalization process.”
In January, the Southern District of Texas court, McAllen Division, issued an order to revoke the citizenship of a naturalized person convicted of a child sex offense.
In March, the DOJ announced it had secured the denaturalization of two individuals—a convicted gun trafficker and a healthcare fraudster.
As of late April, the Trump administration had filed 22 denaturalization cases in its second term, according to the DOJ. During the entire Biden administration, 24 such cases were filed.
A DOJ memo from June 2025 prioritized investigations and enforcement actions advancing denaturalization. The memo directed the department’s Civil Division to aggressively pursue denaturalization cases by evidence, especially those involving national security threats, undisclosed felonies, gang activity, and terrorism.
Sanctity of US Citizenship
In an April 24 post on X, Rep. Grace Meng (D- N.Y.) criticized the Trump administration’s denaturalization efforts.
Naturalized people are American citizens, Meng said. Individuals who undergo the naturalization process are “extensively vetted,” often spending years navigating America’s immigration system, taking exams, and pledging loyalty to the United States, she said.
“The President’s targeting of naturalized U.S. citizens is not only a reckless weaponization of the Department of Justice, it is an attack on core American values,” Meng said.
During a Senate hearing last month, Sen. Eric Schmitt (R-Mo.) argued that denaturalization is a crucial safeguard to protect the sanctity of U.S. citizenship, according to a June 4 statement from the lawmaker’s office.
“For too long, Washington treated naturalization like paperwork. Check the boxes. Say the words. Get the passport. Collect the welfare check or federal tax credit. Move on. That approach desecrates American citizenship. It insults every immigrant who came here honestly, followed the law, learned our history, embraced our Constitution, and took the oath in good faith,” Schmitt said.
“The Supreme Court has made the rule clear: no alien has the slightest right to naturalization unless every statutory requirement is met. Citizenship obtained by fraud is stolen status. Stolen status should be revoked.”
Tyler Durden
Tue, 07/21/2026 - 17:00 Close
Tue, 21 Jul 2026 20:20:00 +0000 The Conflicts Brewing In America's Ten Classes
The Conflicts Brewing In America's Ten Classes
The Conflicts Brewing In America's Ten Classes
Authored by Charles Hugh Smith via OfTwoMinds blog,
What we do know is that things have internal structures with dynamics that operate whether we "like" them or not.
Correspondent Manoj S. recommended an essay from the always-insightful John Michael Greer on the dissolution of unproductive classes behind the smokescreen of AI : A Game of Musical Chairs
"You can sell Americans on anything, no matter how wretchedly unsatisfactory it is, by labeling it as progress. That's what's being done now, with AI being used as a justification for firing useless workers, deleting unnecessary departments, cutting office staff down to scales that actually make sense, and shutting down the classroom-to-cubicle pipeline that once poured new graduates into salary class jobs. We can expect that process to accelerate dramatically in the years ahead."
Greer begins by laying out a compelling taxonomy of class in America , four self-explanatory classes defined by this question: how do different groups in today's America get their income?
1. investment class: income from investments (i.e. capital)
2. salary class: income from a monthly salary with benefits
3. wage class: income from an hourly wage with no benefits
4. welfare class: income from welfare programs
Greer argues that the salary class is now the gravitational center of power in the U.S., absorbing much of the national income in unproductive faux-problem-solving for fabricated problems explicitly devised to justify generous salaries and benefits.
The nation can no longer afford this staggeringly costly unproductive work force and so "replacing cognitive work with AI" is the cover story for the mass evisceration of this class, in a parallel to the previous gutting of the factory work force by automation and offshoring.
I've been addressing the class taxonomy of the US since 2012, and I'd like to add some commentary on the dynamics Greer so succinctly describes. In America's Metastasizing Class Wars (August 27, 2020), I laid out ten classes, based not just on sources of income but on several additional criteria:
Systemic Power: political control of the state's monopoly of force / coercion; financial control of the system's taxation, incentives and optimizations; corporate control of essential technologies - platforms; corporate-state "soft power" control of cultural, social and intellectual belief structures and sources of influence: media, social media, think-tanks, foundations, the Higher Education Clerisy, etc.
The power to protect bureaucratic-institutional fortresses from budget cuts, transparency and accountability.
Agency: the power to leave employment or a locale and change one's life; freedom from debt-servitude / employment bondage.
My ten classes: yes, this is more complicated that Greer's four classes but since power has sources other than income, accuracy demands an accounting not just of income but of power and agency, which is an individual form of power with systemic consequences such as social mobility.
1. The Deep State. Unelected, unaccountable, they wield state power. Call them if you're about to be renditioned. But you need either power or relationships to have their number. Relationships are a form of power.
2. The Oligarchs. Top bidders in the auction for political and financial influence. The top .001%. Able to rig the structures of power to serve their private interests.
3. New Nobility. The super-wealthy class just below the Oligarchs. The top .01%. They have the means to serve their private interests via lobbyists and campaign contributions. $10 million in campaign contributions nets $100 million in tax breaks / subsidies.
4. Upper Caste. The technocrat/professional class that manages the Status Quo for the upper classes. This includes wealthy entrepreneurs and owners of enterprises: rich but not rich enough to rig the structures of power to serve their private interests.
5. State Nomenklatura. Well-paid government administrators with ironclad job security and power.
Together, the Upper Caste and the Nomenklatura comprise the upper-middle class. Owners of enough capital (real estate and stocks) to cheer serial credit-asset bubbles. Since I'm doing well, the system is working great.
6. The Middle Class. Wage-earners and salaried employees, owners of traditional sources of financial security: family home, 401K retirement funds, etc. Due to high debt, many qualify as debt-serfs / wage-slaves with minimal agency despite their ownership of middle-class status signifiers.
7. The Working Poor. Households with earned income but it is not sufficient to secure the basics of middle class life. Many qualify for social welfare programs such as food stamps and Medicaid. Due to high debt, many qualify as debt-serfs / wage-slaves with minimal agency.
8. State Dependents. Though often labeled "poor," those with cash / black-market income often live better than the working poor, due to generous social welfare benefits.
9. Mobile Creatives. Self-employed independents, entrepreneurial sole proprietors with adaptive skills. They may collaborate with other Creatives rather than have employees, and may have part-time conventional jobs. They have mobility between sectors and ways of earning income sufficient to acquire capital / assets. They "own their livelihoods." Their credo is trust my network, not the corporation or the state.
10. Gig economy precariat. May supplement insecure employment (limited hours, no benefits, etc.) with gig work, may combine cash work with rideshare gigs, may juggle several delivery / eBay sales / rideshare gigs. The difference between precariats and Mobile Creatives is precariats are generally in survival mode (high debt, unreliable income, etc.) and are unable to acquire capital / assets. They "rent" their livelihoods rather than "own" them.
Here is a curated list of my essays on the taxonomy of class in the US:
The Three-and-a-Half Class Society (October 22, 2012)
America's Nine Classes: The New Class Hierarchy (April 29, 2014)
What the Global Status Quo Optimizes: Protecting Elites and the Clerisy Class That Serves Them (September 26, 2014)
Explicitly describing what the system optimizes would trigger social instability.
The New Class: Mobile Creatives (May 1, 2014)
The key characteristic of the Mobile Creative class is that they live by this credo: trust your network, not the corporation or the state.
When Belief in the System Fades (March 12, 2008)
Let's distill the key dynamics this structure reveals.
1. This is a neofeudal society passing itself off as a free-market democracy. Power is concentrated in the top state-private sector classes. No one below has any real power. Electing another leader or party changes nothing: life gets more difficult, insecure and expensive for commoners regardless of who's in office. The Imperial project grinds on, regardless of the delusional hope that electing someone else will change anything. Everything else is an illusion of power , not real power.
Try switching the 37% tax rate on labor to capital gains and all income from capital, and see how far you get.
2. Debt and social engineering are the foundations of America's neofeudalism. The essence of neofeudalism is debt penury and wage-slave bondage to the owners of the debt, which is capital that generates income . Commoners have no agency because they have to work for corporations or the state to service their debt. They can't change jobs because they'll lose healthcare insurance, and so on.
Social engineering: as Greer highlighted, Americans can be sold anything, no matter how destructive, unhealthy and exploitive, as long as it's packaged as Progress, especially technological Progress and novelty-as-progress. This is the power of The Mythology of Progress .
3. Beneath the endless marketing of "free market capitalism," few have any real agency. Stripped of PR gloss, the majority of workers have a false choice of servitude: they can serve their current oligarch / state agency / corporation, or they can toil in another noble's domain. Six one way, half-dozen the other.
4. America's neofeudalism now depends on inflating an endless series of credit-asset bubbles that generate phantom wealth , financial claims that are easily inflated without actually creating any real value via increasing income streams by means other than inflation and monopoly extortion.
This has worked so well for so long that recency bias has kicked in and we now believe this is a well-oiled permanent mechanism we can rely on. Alas, credit-asset bubbles are inherently unstable and the current system-wide bet on AI being something that will actually generate value / massive new income streams is an all-in last-ditch bet. When this bubble pops, the conditions enabling a future bubble will no longer exist.
But nobody says that, do they?
5. Here is a chart of the income distribution from owning capital. Note that it follows a power-law distribution: the few collect the lion's share of the income generated by capital. The vast majority don't own any income-generating capital, and the top 20% are delighted by the steady rise in their phantom wealth as the bubble-du-jour inflates the nominal price of the assets they own, setting up the inevitable crash when tulip bulbs revert from "investments" to flowers.
Meanwhile, those collecting 95% of the income from capital look down on the toiling peasantry from their Kafkaesque castles with amusement. Student loans, mortgages, 27.99% interest rate credit cards--it's really quite marvelous, isn't it?
6. Symbolic work versus productive work. Much of the work Greer describes as unproductive is considered highly productive because our exploitation of hydrocarbons and technology has generated such a vast surplus that we could spend it on symbolic work --meetings about meetings, compliance reports, marketing plans, projections, consulting, and so on, work that despite claims to the contrary has little to do with harvesting grain, connecting pipelines, replacing transformers, making beds, performing surgery or any other real-world work.
What If the Work We're Busy Automating Is Needless? (June 19, 2026)
Try telling the priesthood of the temple gods that their work is symbolic. Ours is the most valuable labor, as we're the ones keeping the whole thing glued together. If we stop, the gods will be angered and all will fail. Indeed.
As a result, we have no experience of a way of life stripped of symbolic work based on seeking positions of status, accumulating credentials, and so on.
7. The number of Mobile Creatives is modest. Some years ago I dug into IRS data on types of income and found that only a tiny sliver of the workforce is truly independent / self-employed, i.e. they earn a middle-class income from royalties, ownership of enterprises or professional services. Out of roughly 160 million employed people, around 16 million are self-employed, but only 6.9 million are professional-class with some form of incorporation, and around 3 million others make enough income to live well. So around 6% of the work force is truly independent.
We're inundated with glowing accounts of individuals earning big bucks on "passive income" schemes, just as there are endless posts about how to make six figures using "can't lose" techniques that just so happen to cost $200.
The reality is it's extremely challenging to live outside the peasantry-Nobility arrangement. In my experience, it takes a willingness to constantly absorb risk and failure, and wear an absurd number of hats: accountant, manager, programmer, laborer, creative wizard, psychologist, consultant, student--and even after all that, success is not guaranteed. The difference between living in a shack and "success" is often some form of luck.
8. Something's gotta give. Soaring debt, public and private, rampant corruption, extortion, exploitation, dynamic pricing , unaffordable shelter, utilities and food, tulip-bubble scale euphoria, moated bureaucracies, complexity thickets that stifle competition, neofeudal lords digging bunkers and hiring private armies as they sense the peasantry's distemper--something's gotta give, we just don't know what will break first.
The usual explanations no longer explain anything. Their incoherence is obvious but lacking anything more coherent, we go back to insisting that all will be well if only everyone would wear their Silly Hats. What Once Explained Everything Now Explains Nothing.
What we do know is that things have internal structures with dynamics that operate whether we "like" them or not. I put together this chart of the Lifecycle of Bureaucracies some years ago to illustrate how institutions decay as self-interest replaces the original purpose of the organization. This leads to implosion - collapse. Again, whether we "like" it or not.
Greer's forecast of the end of white-collar symbolic work may well be prescient. Costs are funny things. We can play games with "money" and think we've solved the problem of costs, but costs are weirdly embedded in the real world, and so thinking that we can overcome all those costs by requiring everyone to wear Silly Hats doesn't actually work.
As Peter Drucker observed, enterprises don't have profits, they only have costs. This is also true of governments, households, institutions and, well, everything else. Calling tulip bulbs "wealth" works like magic for a time, and then reality intrudes.
* * *
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Tyler Durden
Tue, 07/21/2026 - 16:20 Close
Tue, 21 Jul 2026 19:40:00 +0000 Lockheed Unveils Move Towards Cheaper Patriot Missiles As Interceptor Stockpiles Dwindle
Lockheed Unveils Move Towards Cheaper Patriot Missiles As Interceptor Stockpiles Dwindle
Lockheed Unveils Move Towards Cheaper Patriot Missiles As Interceptor Stockpiles Dwindle
With US-Iran tit-for-tat strikes on their ninth day and the Russia-Ukraine war grinding on in Eastern Europe, US inventories of certain air-delivered munitions are being depleted. This has made the rapid procurement of lower-cost missiles and bombs a top priority for the Trump administration.
The Wall Street Journal reports that defense giant Lockheed Martin is planning a low-cost version of the Patriot interceptor missile that will cost less than half as much as the current version.
The PAC-3 Adapted Capability Effector will cost less than half the price of Lockheed's PAC-3 Missile Segment Enhancement interceptor, which currently costs $4 million per round.
The new missile is designed to counter cruise missiles and short-range ballistic threats while using existing Patriot launchers.
A separate report from the Financial Times states that Lockheed is exploring a European production line for the new low-cost interceptor missiles, which could drive the price down to between $1.5 million and $2 million per round.
Lockheed is already considering European suppliers for solid rocket motors, guidance electronics, and other critical components, potentially through a partnership with a leading defense contractor on the continent.
Lockheed's decision to look toward Europe, rather than expand exclusively in the US, may signal limitations within the domestic defense-industrial base, just as the Trump administration's war economy begins to accelerate .
So about lead time for these new missile? How many years?
Tyler Durden
Tue, 07/21/2026 - 15:40 Close
Tue, 21 Jul 2026 19:00:00 +0000 SpaceX Rebounds From Near-50% Rout As Starship Launch Catalyst Nears
SpaceX Rebounds From Near-50% Rout As Starship Launch Catalyst Nears
SpaceX has slipped below its heavily hyped $135 IPO price and has been nearly halved from its all-time high, which was reached during the June 15 gamma squeeze tha
Read more.....
SpaceX Rebounds From Near-50% Rout As Starship Launch Catalyst Nears
SpaceX has slipped below its heavily hyped $135 IPO price and has been nearly halved from its all-time high, which was reached during the June 15 gamma squeeze that briefly sent shares above $220 in overnight trading.
Last Thursday's scrub of Starship's 13th test flight added further downward pressure, with shares touching $119 on Monday. The stock rebounded on Tuesday ahead of Thursday's next launch attempt, positioning Flight 13 as a near-term catalyst.
The last-second abort was triggered after four of the Super Heavy booster's 33 Raptor engines failed to ignite, prompting an automatic shutdown. "To be confident of a good flight, two Raptors will be removed and replaced," Elon Musk wrote on X.
Flight 13 will be the first Starship launch conducted with SpaceX trading as a public company, giving investors direct exposure to the mission's outcome. A successful flight could help restore confidence in the company's stock and bonds, while another failure would likely deepen the latest sell-off.
Credit markets are already flashing caution . SpaceX issued $25 billion of bonds across five maturities, including $3.5 billion of 6.65% notes due in 2056, which have moved steadily lower since entering secondary trading.
Quite a divergence today...
The question now is whether a successful Starship launch Thursday can put a floor under SpaceX shares, which have underperformed most other major Nasdaq IPOs during the opening days and weeks of trading.
Wall Street, however, remains broadly bullish on the stock , except for Morningstar's Nicolas Owens with the only "Sell" rating.
Tyler Durden
Tue, 07/21/2026 - 15:00 Close
Tue, 21 Jul 2026 18:40:00 +0000 Coinbase Exec Says Clarity Act Has 'Tremendous Momentum' In The Senate
Coinbase Exec Says Clarity Act Has 'Tremendous Momentum' In The Senate
Coinbase Exec Says Clarity Act Has 'Tremendous Momentum' In The Senate
Authored by Micah Zimmerman via BitcoinMagazine.com,
Coinbase Vice Chair Ryan VanGrack said the Clarity Act has gained “tremendous momentum” in the Senate, in a CNBC “Squawk Box” appearance that made the case for a federal crypto framework and touched on bitcoin, blockchain, and the industry’s uneasy truce with Wall Street.
VanGrack, a former SEC official, framed the Clarity Act as an overdue set of rules rather than a giveaway.
“It’s not about no regulation,” he said.
“This is about imposing regulation on the industry for the first time.”
He described a “win-win-win” for American investors, innovators, and standards should the measure pass, and said a bipartisan group of senators has kept up work “even in the last few weeks and days.”
Clarity Act updates
The House passed its version of the Clarity Act last year, and attention has shifted to the Senate, where the path to 60 votes remains the central hurdle.
The Senate Banking Committee advanced the bill in a 15-9 vote this spring, with two Democrats crossing over, and House members have urged the Senate to act before the August recess. The measure sits in a narrow window as negotiators work out remaining terms.
President Trump added his voice last week, posting on Truth Social in support of Senator Lindsey Graham and calling on the Senate to pass the bill. Trump framed the stakes in terms of competition with China, a message he has repeated as he presses the chamber to move .
VanGrack said Democrats have won concessions that strengthen the bill’s consumer protections.
He pointed to an illicit-finance framework, an “FTX loophole” that the text would close, insider-trading safeguards, and added disclosures.
“Across the board, the Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill that much stronger,” he said.
He said the bill would not change how crypto is classified as a commodity or a security in a fundamental sense, and would preserve the registration, examination, and surveillance structure from the House version.
Asked how the industry reconciles with skeptics like JPMorgan chief Jamie Dimon, VanGrack pointed to a wave of bank and institutional deals.
“Not a week goes by,” he said, where a firm fails to announce a new crypto project or investment. He predicted an “inevitable convergence,” a point at which the market stops separating traditional finance from crypto and treats each as a modern financial institution.
That convergence has played out in public, and in conflict. JPMorgan and Coinbase announced a partnership to widen crypto access, and the bank has moved to accept bitcoin as loan collateral and to let clients trade it .
Dimon, for his part, has declared war on the Clarity Act and aimed a crude insult at Coinbase CEO Brian Armstrong, a reminder that the détente carries friction.
The odds of the Clarity Act being signed into law in 2026 jumped notably today...
Is bitcoin real?
The interview turned to a sharper question from CNBC’s Andrew Ross Sorkin: whether blockchain is real but bitcoin is not. VanGrack called it “a fair question” and said the technology’s benefits stand on their own — faster settlement, more transparency, and round-the-clock transactions.
He argued that no one building a financial system today would recreate the infrastructure of the past century. He cited Citadel Securities, which he said made another large investment in the crypto economy last week, as a sign that major institutions are trending the same course.
Sorkin pressed the harder edge of the design: the technology aims to remove the counterparty a customer might call when something goes wrong. VanGrack conceded the point as fair, then countered with the costs of the current system — days to reconcile trades and the counterparty risk that delay creates.
“I’m not here to tell you it’s the wrong technology,” he said. He acknowledged open questions, including whether crypto accounts should carry interest or loyalty rewards, a debate that bankers have raised and that the law will settle as “a blunt instrument.”
He closed on the case for Clarity Act passage.
“In the absence of clarity, you do not have a federal oversight and framework,” he said. “So whether you love crypto or hate crypto, you should want” the Clarity Act.
Tyler Durden
Tue, 07/21/2026 - 14:40 Close