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Sun, 23 Aug 2026 01:00:00 +0000 Family Structure Determines Kids' Success In School More Than Race Or Income, Researchers Say
Family Structure Determines Kids' Success In School More Than Race Or Income, Researchers Say
Family Structure Determines Kids' Success In School More Than Race Or Income, Researchers Say
Authored by Kevin Stocklin via The Epoch Times ,
While universities debate whether to skip standardized admissions tests and the University of Michigan waives first-term grades for some incoming students, new research suggests that relaxing standards might not be the best way to help kids who are struggling in school.
A science teacher works with her students at a high school in Homestead, Fla., on March 10, 2017. Rhona Wise/AFP via Getty Images
The new report by the Institute for Family Studies (IFS) and the American Enterprise Institute, based on data collected from grade school students by the National Survey of Children’s Health, focused on how kids performed in school and what they said about their home life. The report found that “family structure is a more powerful predictor of school problems, academic performance, and depression than are race and poverty.”
The Department of Education’s Nation’s Report Card sorts results by race, sex or income, but it ignores family structures even though it has been collecting data on that factor since 2013, researchers said.
By contrast, the report looked at “whether or not kids are being raised by their own mother and father,” IFS Senior Fellow Brad Wilcox said, and they found that family structure was often a more important factor in children’s well-being.
“It’s pretty clear that the character of the family you grew up in is more important than the color of your skin,” Wilcox told The Epoch Times.
The study reported that 74 percent of children from “intact, married-parent families” achieved top grades (As and Bs), compared with 60 percent of children from “other family structures.” In addition, the IFS stated that children who were not raised by both biological parents were 47 percent more likely to have disciplinary problems at school and more than twice as likely to be depressed.
“Raising children in a stable married family is incredibly helpful to kids,” Wilcox said.
Graduating Without Basic Skills
The IFS’s findings come at a time when data increasingly indicates that many American children are struggling in school, and looking at grades may not even show the full picture. Reports and anecdotes suggest that even among students who receive passing grades, many are not learning basic skills.
The National Literacy Institute reports that 64 percent of America’s fourth graders do not read proficiently, and more than half of American adults now read below a sixth-grade level. And statewide reports are indicating that grade school children are being passed on to the next grade, or graduating, regardless of whether or not they have basic reading and math skills.
In 2023, Baltimore City schools announced that they would “avoid the punitive approach of failing students,” citing effects of school closures during the COVID-19 pandemic. This followed a 2021 report by the state of Maryland, which said that across the state, “approximately half of the students who graduated high school and enrolled in a Maryland college or university in 2013 were assessed to need remediation in math, English, and/or reading.”
Studies in Texas, Alabama, and Missouri over the past two decades showed similar findings.
A 2025 report from the University of California-San Diego stated that the math skills of one-in-12 incoming students were below a middle school level. More recently, University of California-Berkeley mathematics professor Zvezdelina Stankova said in an op-ed for the San Francisco Standard that she had to pause her calculus course in order to teach her students middle-school level algebra and fractions.
In many cases, the response from schools has been to accommodate a lack of basic skills by loosening assessment tests, or getting rid of them altogether. Currently, more than 2,000 colleges and universities, including some Ivy League and state universities, do not require standardized tests like the SAT and the ACT as a criterion for admission.
In a possible case of “grade inflation,” Harvard University reported that 60 percent of the grades given to students in 2024–25 were As, up from about 25 percent in 2005–06. Meanwhile, the University of Michigan’s College of Literature, Science, and the Arts announced that starting in the fall of 2027, it would refrain from giving grades to incoming students during their first term, in order to “curb the mental health crisis unfolding among college-aged individuals.”
Family Structure
According to Wilcox, focusing on family structures is likely a better solution than inflating or avoiding grades. He advocates, among other things, making Americans aware of the difference it makes to kids’ success when both parents are raising them in a stable home.
“Not every couple who are having kids should get married and not every couple who are married should stay married,” Wilcox said. “But it’s important when it comes to having and raising kids to do what you can to be married and to stay married.”
In an effort to keep parents together, some advocates have called for the removal of what they call the “marriage penalty,” which occurs when two individuals with similar incomes marry, pushing their joint income to a level that exceeds welfare eligibility.
“Marriage penalties are one of the most damaging and misguided features of the federal welfare system ,” said Rep. Glenn Grothman (R-Wis.) in a statement. “For decades, Washington has punished families for getting married, discouraging responsibility and trapping parents and children in long-term dependency.”
Based on federal data, the IFS states that only 3 percent of subsidized housing serves two adults with children, compared with 30 percent that goes to a female head with children.
The IFS report states that family trends in America are tilting in a slightly positive direction, however. The proportion of American children living in married families hit a low point of 64 percent in 2012, and has since increased to 66 percent as of 2024.
Tyler Durden
Sat, 08/22/2026 - 21:00 Close
Sun, 23 Aug 2026 00:25:00 +0000 US Navy Live-Fire Tests Drone Sailboat With Missile Launcher
US Navy Live-Fire Tests Drone Sailboat With Missile Launcher
Once known primarily for capturing dramatic footage from inside hurricanes and tropical storms during the Atlantic hurricane season, Saildrone's autonomous surface vessel
Read more.....
US Navy Live-Fire Tests Drone Sailboat With Missile Launcher
Once known primarily for capturing dramatic footage from inside hurricanes and tropical storms during the Atlantic hurricane season, Saildrone's autonomous surface vessels have evolved into dual-use platforms that recently demonstrated the ability to deploy Joint Air-to-Ground Missiles (JAGM).
California-based Saildrone revealed in a press release that its unmanned surface vehicle (USV) launched two Lockheed Martin JAGM missiles for the first time during the Rim of the Pacific exercise off Hawaii.
According to Saildrone, the 20-meter Surveyor drone participated in the live-fire exercise in coordination with the USS Theodore Roosevelt carrier strike group.
The Surveyor used targeting data on a surrogate high-speed surface craft and executed the engagement through the Navy's Adjunct Remote Engagement System, or ARES, a remotely operated combat system. The test demonstrated how drone vessels could supplement the missile capacity of carrier strike groups while remaining deployed in contested waters, such as the Strait of Hormuz or other maritime chokepoints, for extended periods.
"This successful live-fire demonstration was the result of pairing one of the most tried and trusted munitions with the most operationally deployed class of USV on the planet," Saildrone CEO Richard Jenkins wrote in a statement.
Jenkins noted, "Not only does this deliver mission-ready, kinetic USV capability today, but it also de-risks and accelerates our journey of fitting more sophisticated kinetic capabilities, like the Mk70 launcher, to our larger platform, the Saildrone Specter. Saildrone will continue to develop our platform capabilities to meet the rapidly evolving operational requirements of our customers."
The US Navy has adopted the drone-boat warfare playbook pioneered by Ukraine, recently deploying Saronic Corsair one-way attack drone boats near the Strait of Hormuz to target Iran's Bandar Abbas naval base .
More importantly, drone-boat operations and live-fire testing signal what could be a massive Department of War procurement supercycle spanning unmanned surface vessels and Group 1 through Group 3 aerial drones .
Tyler Durden
Sat, 08/22/2026 - 20:25 Close
Sat, 22 Aug 2026 23:50:00 +0000 For Decades, The United States Ignored Latin America. All That Changed Under Trump.
For Decades, The United States Ignored Latin America. All That Changed Under Trump.
For Decades, The United States Ignored Latin America. All That Changed Under Trump.
Authored by Darlene McCormick Sanchez via The Epoch Times ,
In a pre-dawn raid in January, Delta Force soldiers burst in on a sleeping Nicolás Maduro, capturing the Venezuelan leader wanted on U.S. narco-terrorism charges.
Illustration by The Epoch Times, Getty Images, Public Domain
The dramatic end of Maduro's control over a country emblematic of left-wing politics underscored Latin America's shift to the political right.
Since late 2025, the leadership has flipped from left to right in five Latin American countries: Bolivia, Chile, Honduras, Peru, and Colombia. Uruguay did the opposite, shifting from right to left in November 2024, the same month Trump was reelected.
The conservative realignment under Trump comes as his administration has refocused on America's southern neighbors in what has been dubbed the "Donroe Doctrine" - a play on the Monroe Doctrine, which asserted U.S. dominance over the region.
Gone is the "pink tide," a wave of "soft" communism that emerged in Latin America in the late 1990s and extended into the 2000s before reemerging in the early 2020s.
The era gave rise to prominent left-wing leaders such as Maduro's predecessor, Venezuela's Hugo Chávez, and Bolivia's Evo Morales, whose takeover of oil and gas production tanked his country's economy.
Experts believe a combination of Trump's influence, along with economic and security concerns - two areas of strength for conservative candidates - has triggered a reversal of fortunes for leftist governments in the region.
Trump endorsed a number of right-wing candidates in Latin America. In December 2025, he endorsed Chile's José Antonio Kast, who won a landslide election against the communist candidate Jeannette Jara in December 2025. That same month, Nasry Asfura , a Trump-backed conservative, snatched victory away from Honduras's socialist government.
The president also supported Colombia's Abelardo de la Espriella, who this year edged out Iván Cepeda, a left-wing opponent aligned with outgoing leader Gustavo Petro, a former Marxist guerrilla.
In four of the five countries, conservatives also made gains in their respective legislatures. Only Colombia saw the left actually gain legislative seats, but neither side holds a majority in its two chambers.
In Bolivia, no party won an outright majority, but the conservative government became the largest force in both chambers of its legislature, while conservative factions together make up a supermajority in both chambers of Bolivia's government. The former leftist government retained only two seats.
Honduras's single legislative chamber gained conservative seats on the coattails of Asfura's victory. In Chile's legislature, a conservative coalition controls the lower chamber, while the upper chamber is evenly split. Likewise, Peru's conservative bloc holds a plurality but not a majority in the lower chamber, while the upper chamber is evenly divided.
Crime and Economics
Latin America's conservative trend was sparked by disappointment with leftist governments, which led to increased organized crime and inflation, according to Konrad-Adenauer-Stiftung, a Germany-based international political analysis group.
Of 16 democracies with populations greater than 1 million people, 10 have changed political direction since 2022, mostly from left to right, according to the report and recent updates.
Of those examined, only Brazil, Guatemala, Mexico, and Uruguay currently have left-wing governments.
Venezuela, which wasn't counted as a democracy, remains in political limbo after Maduro's removal, leaving his Vice President Delcy Rodríguez in charge. Cuba remains under communist control that took root in the 1950s. Another country not included in the survey was Nicaragua, ruled by former left-wing guerrilla leader Daniel Ortega, who has been consolidating power since 2007. He recently announced the nation would cease to hold elections.
Venezuela's interim President Delcy Rodriguez attends a ceremony for the signing of an agreement between Chevron Venezuela and the national government at the Miraflores Palace in Caracas, Venezuela, on April 13, 2026. Juan Barreto/AFP via Getty Images
Guyana, which has about 1 million residents, holds democratic elections but remains firmly in the grasp of socialists.
Just as Maduro's demise signaled the end of the old communist guard, figures such as Argentina's golden chainsaw-wielding leader Javier Milei symbolize the rise of conservative populist leaders.
"Figures such as Javier Milei in Argentina and Nayib Bukele in El Salvador embody the new political mood with their populist strategies, while moderate conservatives such as Luis Abinader in the Dominican Republic prioritize stability and pragmatism," according to the report.
U.S. policy has reinforced the region's conservative vibe, the report said, leading to positive relationships with right-wing leaders.
"This is hardly surprising given that Washington recently announced its intent to actively support like-minded political forces in the Western Hemisphere, to expand trade relations, and to stabilize Latin American countries in line with its own interests," the report states.
Argentinian presidential candidate Javier Milei lifts a chainsaw during a rally in Buenos Aires, Argentina, on Sept. 25, 2023.
'Trump Effect'
Joshua Trevino, senior director for the Western Hemisphere Initiative at the Texas Public Policy Foundation, said having a conservative in the White House has driven change in Latin America.
Trump's influence and policies have contributed to Latin America turning away from socialism and communism, he said.
"So what we see is a Trump administration effect to a lot of it," he told The Epoch Times. "We can have a lot more open optimism in Latin America than we previously did."
Read the rest here...
Tyler Durden
Sat, 08/22/2026 - 19:50 Close
Sat, 22 Aug 2026 22:40:00 +0000 IRS Announces 7 Percent Interest Rate For Overpayments And Underpayments
IRS Announces 7 Percent Interest Rate For Overpayments And Underpayments
IRS Announces 7 Percent Interest Rate For Overpayments And Underpayments
Authored by Naveen Athrappully via The Epoch Times ,
The Internal Revenue Service has announced interest rates for tax underpayments and overpayments for the fourth quarter of 2026, keeping them at 7 percent for individual taxpayers.
The Internal Revenue Service in Washington on Jan. 6, 2026. Madalina Kilroy/The Epoch Times
When taxpayers do not pay taxes, penalties, and other charges on time, the IRS charges interest on the underpayment. Conversely, when taxpayers pay more tax than they actually owe, the agency pays interest on the overpayment. Those rates are determined quarterly. The 7 percent rate for overpayments and underpayments takes effect Oct. 1, according to the IRS.
For corporations, the overpayment rate is 6 percent, while the rate on the portion of a corporate overpayment exceeding $10,000 is 4.5 percent. The underpayment rate is 7 percent, the same as for individual taxpayers, while large corporate underpayments carry a 9 percent rate. All of the rates are unchanged from the third quarter.
According to an April 26 IRS update cited by The Epoch Times, interest on underpayments begins accruing on the due date of the amount owed and continues until the balance is paid in full.
Interest on overpayments is calculated based on factors including the tax filing due date, payment dates, and when the IRS receives a return in a format it can process.
Taxpayers can file claims if they believe the amount of overpayment interest they received was insufficient.
The rates were announced based on the federal short-term rate for July, which was determined to be 4 percent.
For taxpayers other than corporations, the overpayment and underpayment rates are calculated by adding 3 percentage points to the federal short-term rate.
For corporations, the underpayment rate is the federal short-term rate plus 3 percentage points. The corporate overpayment rate adds 2 percentage points, except for the portion of an overpayment exceeding $10,000, for which only 0.5 percentage point is added.
Penalty Relief
The IRS has also introduced a new automatic penalty relief process for taxpayers, known as the Automatic Exemption from Penalty, or AEP.
The program is available to eligible taxpayers who filed and paid their taxes on time during the previous three years, or during 12 consecutive quarters for quarterly filers. Those who qualify automatically receive relief from common penalties including failure to file, failure to pay, and failure to deposit.
When the IRS applies AEP to an eligible tax return, the taxpayer receives a notice confirming that the relief was granted.
Taxpayers who do not qualify for AEP can still seek penalty relief on the basis of reasonable cause, which the agency considers case by case.
In a July 8 statement, the IRS said it would begin phasing out the long-standing First Time Abate, or FTA, relief system in favor of AEP during the summer. Under FTA, taxpayers had to contact the agency before the IRS reviewed their account to determine whether they qualified. AEP makes that process automatic for eligible taxpayers.
During the transition, some taxpayers who qualify for AEP may still receive penalty notices involving 2025 or 2026 returns. In those cases, the IRS says taxpayers can contact the agency and request FTA relief.
IRS CEO Frank J. Bisignano said the automatic exemption reflects the agency's effort to make payment of taxes owed simpler and more consistent.
He added that taxpayers with a history of paying on time should not have to formally request relief that would routinely be granted.
Tyler Durden
Sat, 08/22/2026 - 18:40 Close
Sat, 22 Aug 2026 22:35:00 +0000 Spanish Beach Stormed As Ceuta Chaos Spreads
Spanish Beach Stormed As Ceuta Chaos Spreads
Spanish Beach Stormed As Ceuta Chaos Spreads
Authored by Steve Watson via Modernity News ,
Dozens of military-age men leapt from boats onto packed tourist beaches in mainland Spain this week, sending holidaymakers scrambling for their belongings as the fallout from the Ceuta mass crossing continues to escalate.
Footage from Cala del Barco near the exclusive La Manga Club in Cartagena captured the moment a large vessel packed with predominantly North African males in their late teens and twenties powered close to shore in broad daylight.
The men jumped into the water, waded or swam the final metres, and charged inland past stunned sunbathers.
Families packed towels and umbrellas and fled.
One woman was overheard saying "It's a f*****g patera" before urging companions to collect their things and call the police.
Local officials did not hide their anger. Cartagena mayor Noelia Arroyo stated: "This cannot be normalised. We cannot accept that human trafficking mafias have such an easy time reaching our shores."
"If a migrant boat can reach a cove like this, disembark in full view of citizens and then leave, we have to ask ourselves how the control of our maritime borders is working," Arroyo further urged.
Former mayor Francisco Bernabe asked: "How is it possible that a boat of that size was not detected by the surveillance radar? Are they broken? Do they have them turned off? Or are they working and they simply ignore them?"
Authorities later reported 62 people aboard, including 45 adult men, two adult women and 15 minors, mostly of presumed Algerian nationality.
Police and Red Cross responded after the vessel had already turned and left.
The landings come weeks after more than 70,000 people poured into the Spanish enclave of Ceuta from Morocco. While officials claimed the majority returned, thousands remained, and the spectacle of open landings on mainland tourist beaches has left many Spaniards convinced the message of impunity has spread.
In Ceuta itself the situation remains dire. Spanish police relocated hundreds of mostly young male migrants from El Trampolín beach to temporary facilities in industrial and military zones.
Makeshift tent camps were erected even as the government had previously insisted those who entered irregularly would be returned to Morocco.
However, within hours the same beach was reoccupied. Videos show migrants returning almost immediately after clearance operations.
Police unions described a daily cycle of clear, transfer, and reoccupation with no end in sight.
One union statement noted officers were forced to repeat the same operation day after day while those responsible for a lasting solution remained silent.
Cleanup crews finally returned to the beach after earlier efforts were suspended over security concerns. The sand and surrounding areas had become littered with waste after weeks of open camping. Yet as soon as authorities cleared sections, new groups moved back in.
Hospitals and health centres in Ceuta have reported rising cases of scabies, measles, impetigo and ringworm. Police and military personnel assigned to the operation have also contracted scabies.
Spain's Defence Ministry confirmed 24 cases among troops but insisted the infections were unrelated to the migrant influx, attributing them instead to humidity and substandard barracks conditions. Officials described scabies as common in the region.
Doctors on the ground have painted a different picture. Medical staff have spoken of a "health catastrophe," with hospitals overrun, medicine running short, and cases of tuberculosis, scabies, impetigo and gastroenteritis linked to the overcrowded beach settlements and lack of sanitation.
One doctor noted that Ceuta had "basically turned into a full-on slum" with thousands living in rough shacks on the sand.
Playgrounds that once hosted local children have been taken over. Footage shows groups of young men lingering in the same spaces where mothers previously brought their kids.
Reports from animal caregivers describe cat colonies vanishing, with mutilated carcasses and half-eaten birds found near the camps. Volunteers stated cats had left their habitats once the large numbers of arrivals settled in the area.
Schools have not been spared. Just weeks before the start of the academic year, migrants occupied and damaged at least one educational building in Ceuta.
Videos circulating from the site show the state of the facilities left behind, prompting calls for full disinfection before any children return.
Police have reported a more serious threat involving minors. Officials stated that hundreds of underage migrants need to be moved because girls are being dragged into the surrounding mountains for gang rapes.
Civil Guard figures earlier confirmed multiple sexual assaults since the July crossings, including cases involving very young victims.
Local mothers have appeared on camera weeping, describing how their teenage daughters can no longer move freely without male escorts and how some families have already fled the city or sent children to the mainland.
Spain is now subjected to landings on the mainland, revolving-door clearances in Ceuta, disease among both residents and security forces, public spaces rendered unusable, and a growing sense among locals that the authorities have lost control of the border.
While government statements continue to emphasise returns and temporary measures, the images from both the tourist coves of Murcia and the beaches of Ceuta tell a different story - one of emboldened crossings and a crisis that has moved from the African enclave onto the Spanish peninsula itself.
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Tyler Durden
Sat, 08/22/2026 - 18:35 Close
Sat, 22 Aug 2026 22:05:00 +0000 "They Can't Define A Woman": Bill Maher Says Democrats "Opened The Door" With "Crazy" Cultural Issues
"They Can't Define A Woman": Bill Maher Says Democrats "Opened The Door" With "Crazy" Cultural Issues
Bill Maher says Democrats are still paying a political price for cultural positions that leave voters thinking the party h
Read more.....
"They Can't Define A Woman": Bill Maher Says Democrats "Opened The Door" With "Crazy" Cultural Issues
Bill Maher says Democrats are still paying a political price for cultural positions that leave voters thinking the party has "lost their minds."
The 'Real Time' host argued that Republicans have benefited from Democrats continuing to focus on cultural issues where, in his telling, much of the country believes the party has gone off the rails.
"The Democrats made it a lot easier for [Republicans] by harping on cultural issues where the country thought they had lost their minds, " Maher said.
He contrasted Democratic messaging about corruption, inflation and healthcare with the sort of cultural arguments that can cut through everything else, joking that voters instead hear that Democrats "want to get rid of Thanksgiving."
Then Maher got to the issue he clearly believes remains politically toxic: "They can't define a woman, and they think the WNBA should be full of men, and just crazy stuff."
"And so they kind of opened the door for that," he added.
Polling cited by Vigilant Fox underscores the problem... A New York Times/Ipsos survey found that 79% of Americans said transgender female athletes should not be allowed to compete in women's sports.
The opposition crossed party lines, including 94% of Republicans and 67% of Democrats.
Tyler Durden
Sat, 08/22/2026 - 18:05 Close
Sat, 22 Aug 2026 21:30:00 +0000 Fauci's Lawyers Set Up Legal Defense Fund
Fauci's Lawyers Set Up Legal Defense Fund
Fauci's Lawyers Set Up Legal Defense Fund
Authored by Zachary Stieber via The Epoch Times ,
Dr. Anthony Fauci’s lawyers have created a fund for people to donate for his legal expenses.
The fund “has been established to help pay the costs of the ongoing legal representation of Dr. Fauci,” according to its website.
Dr. Anthony Fauci, former director of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health, testifies before the Senate Committee on Homeland Security and Governmental Affairs in Washington on July 29, 2026. Madalina Kilroy/The Epoch Times
All contributions are final and non-refundable, the lawyers said.
Fauci, 85, was director of the National Institute of Allergy and Infectious Diseases from 1984 until late 2022.
“Dr. Fauci is facing an unprecedented legal barrage for a retired civil servant, and he deserves a robust defense against these unfounded and frivolous actions,” David Schertler, a lawyer representing Fauci, told Reuters. “Dr. Fauci has not done anything wrong, and we are prepared to fight back against this shameful harassment of an honorable man who dedicated his career to saving lives.”
Fauci will not receive any payment or other form of distribution from the legal defense fund, his lawyers said. It is set up as a trust with an independent corporate trustee, according to Fauci’s legal team.
Neither Fauci nor his lawyers have control over how the money will be distributed or how the fund will be managed, his lawyers said. Invoices submitted by Fauci’s attorneys will be reviewed by an independent expert adviser, they said. Once all of Fauci’s litigation concludes, any remaining funds will be distributed to charity, his lawyers said.
In his last year of service, Fauci made $480,654, according to financial data obtained by Open the Books. The net worth of Fauci and his wife, who was the chief bioethicist at the National Institutes of Health until 2024, reached $15 million in 2023, according to a financial disclosure released by the transparency organization.
Fauci’s role as head of an agency that sent money to a laboratory in Wuhan, China, near where the first COVID-19 cases were detected, and his statements about the research the agency funded as well as the origins of COVID-19, have come under increasing scrutiny in the wake of senators obtaining hundreds of pages of his diary and emails he and others sent during the pandemic.
The diary showed Fauci was informed by many virology experts that COVID-19 bore a feature that may signal manipulation by scientists. Just months later, Fauci promoted a paper with which he had secretly assisted that said it was implausible COVID-19 came from a lab.
After Fauci in July refused to answer questions from senators about the diary and other documents, a Senate committee voted to hold him in contempt and sent a criminal referral to federal prosecutors. The Department of Justice has not commented on the referral, and Fauci has not been charged as of yet.
Fauci has a pardon covering conduct from Jan. 1, 2014, through Jan. 19, 2025. Sen. Rand Paul (R-Ky.), among others, has said that he should be prosecuted because he has allegedly made false statements after the 2025 date, in addition to the contempt he showed Congress.
Paul wrote on X: “For years we were told Fauci was the infallible expert who never made a mistake and never lied. Now his lawyers are admitting the legal exposure is so large they need a special fund to handle it. You can’t fundraise the truth away.”
Fauci also faces multiple probes by state officials, including Florida Attorney General James Uthmeier, who issued a subpoena to Fauci and said he would investigate whether the infectious disease expert “personally profited off the COVID ‘guidance’ he issued.”
The legal fund was established after Dr. David Morens, a senior adviser to Fauci for 16 years, admitted to defrauding the government by destroying records subject to the Freedom of Information Act.
Morens faces up to five years in prison.
Fauci testified in a public hearing in 2024 that he was not aware of a conspiracy to evade Freedom of Information Act requests, after emails from Morens that were released by journalists and lawmakers detailed such a scheme.
“I can send stuff to Tony on his private gmail, or hand it to him at work or at his house,” Morens wrote in one email. “He is too smart to let colleagues send him stuff that could cause trouble.”
In several missives released by Paul in 2025, Fauci instructed aides to delete emails after they read them.
Reuters contributed to this report.
Tyler Durden
Sat, 08/22/2026 - 17:30 Close
Sat, 22 Aug 2026 20:55:00 +0000 Treasury Bars Scammy ESG Funds From Trump Accounts, Citing Left-Wing 'Political Activism' Concerns
Treasury Bars Scammy ESG Funds From Trump Accounts, Citing Left-Wing 'Political Activism' Concerns
The Treasury Department is moving forward with rules that would exclude investment funds built around scammy, globalist envir
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Treasury Bars Scammy ESG Funds From Trump Accounts, Citing Left-Wing 'Political Activism' Concerns
The Treasury Department is moving forward with rules that would exclude investment funds built around scammy, globalist environmental, social, and governance (ESG) criteria from Trump Accounts .
Fox Business reports that under the newly proposed framework, qualifying indexes would need to track broad segments of US or global equity markets using objective financial criteria, rather than criteria crafted by social justice warriors who seek to make the West energy-poor.
"Corporate America has rejected ESG ideology, and we will not allow it to be a part of Trump Accounts ," Treasury Secretary Scott Bessent told the outlet in a statement.
ESG scores have been hijacked and "weaponized" by social justice warriors over the years. For instance, large tobacco companies have received higher ESG scores than Elon Musk's Tesla.
"Exxon is rated top ten best in world for environment, social & governance (ESG) by S&P 500, while Tesla didn't make the list !" Elon Musk wrote on X several years ago.
Musk is right...
Meanwhile, earlier this year, the ESG ruse continued with MSCI's decision to assign SpaceX the "lowest possible ESG rating ," while Big Oil and defense companies scored high on the list.
ESG investing has drawn criticism from Republicans who say these funds incorporate ESG standards that may subordinate investor returns to political priorities.
Trump Accounts launched on July 4 and have attracted more than 7 million registrations, the outlet said, citing a Treasury spokeswoman. More than 2 million enrolled children are eligible for a $1,000 federal contribution.
James Lindsay, the author of "Race Marxism" and other books challenging woke narratives , has noted that ESG is merely a weapon in the hands of "social justice warriors" seeking to shake down corporations and a tool for those attempting to impose a "one-world government ."
Tyler Durden
Sat, 08/22/2026 - 16:55 Close
Sat, 22 Aug 2026 20:20:00 +0000 Waste Of The Day: Millionaire Mortgages
Waste Of The Day: Millionaire Mortgages
Waste Of The Day: Millionaire Mortgages
Authored by Jeremy Portnoy via RealClearInvestigations ,
The Department of Agriculture's Section 502 loan programs help low-income families buy homes with mortgages that don't require a down payment. But in 2013, an investigation by Reuters found dozens of millionaires took advantage to purchase vacation and rental homes.
Though the millionaires later repaid their loans, the program as a whole covered $500 million in losses from defaults in 2013, or $715 million in today's money.
That's according to the "Wastebook" reporting published by the late U.S. Senator Dr. Tom Coburn. For years, these reports shined a white-hot spotlight on federal frauds and taxpayer abuses .
Coburn, the legendary U.S. Senator from Oklahoma, earned the nickname "Dr. No" by stopping thousands of pork-barrel projects using the Senate rules. Projects that he couldn't stop, Coburn included in his oversight reports.
Coburn's Wastebook 2013 included 100 examples of outrageous spending worth nearly $30 billion, including the loans for millionaires.
Search all federal, state and local salaries and vendor spending with the world's largest government spending database at OpenTheBooks.com .
Key facts: Reuters analyzed mortgage records from 2003 to 2011 and found more than 180 USDA-backed loans went to borrowers who reported annual incomes above $500,000. That was an apparent violation of the program rules. Loans were only meant for buyers whose income was not above the median income of their community.
The records showed at least 500 USDA-backed mortgages worth $500,000 or more, including more than 90 exceeding $1 million. Loans appeared in resort communities including Hyannis Port, Massachusetts, California wine country, and the "thriving seaside enclave" of Ewa Beach, Hawaii.
One retired advertising executive told Reuters he used a USDA loan to buy a house in North Carolina. "I could have bought a house another way," he said, "but this allowed us to travel, and our hope in a few years is to purchase a beach property in Surf City that we can rent out now and retire in later."
The program's definition of "rural" was also generous. Reuters found at least 51,600 mortgages worth $6 billion in cities designated as urban by the U.S. Census, including places near Los Angeles, Washington, Seattle and Austin. Another 300,000 loans worth $38 billion were located in areas that "straddled" urban and rural boundaries.
USDA said the overwhelming majority of borrowers were the low- and moderate-income families the program was intended to help. The average applicant earned about $48,000 and borrowed $131,000.
Summary: There is a place for government programs that help families who cannot otherwise afford a home, but people earning $1 million per year probably should not need help affording the down payment.
Tyler Durden
Sat, 08/22/2026 - 16:20 Close
Sat, 22 Aug 2026 19:45:00 +0000 Axios: 40 Tankers Transited Hormuz Friday Night, But Real Crisis Is Diesel
Axios: 40 Tankers Transited Hormuz Friday Night, But Real Crisis Is Diesel
Axios political reporter and Middle East correspondent Barak Ravid reported early Saturday that 40 tankers transited the Strait of Hormuz on Friday n
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Axios: 40 Tankers Transited Hormuz Friday Night, But Real Crisis Is Diesel
Axios political reporter and Middle East correspondent Barak Ravid reported early Saturday that 40 tankers transited the Strait of Hormuz on Friday night , citing three unnamed US officials.
"Around 16 million barrels of oil moved out of the strait through the southern channel on Friday night ," Ravid wrote on X.
The latest Bloomberg vessel-tracking data show that 13 ships transited the critical waterway on Saturday, with seven traveling east to west and six moving west to east. Traffic remains well below the levels recorded during the brief memorandum-of-understanding period from June 15 through mid-July.
On Friday, President Trump called the Hormuz chokepoint "an American territory"...
"We don't even know if we won, because I view the Strait of Hormuz as an American territory right now," Trump said, addressing a crowd in South Carolina.
Trump joked about bombing Iran during the speech, saying, "It's a Friday night. We have plenty of time... and what the hell do I have to do? Go back and bomb Iran a little bit more?"
Axios reported Wednesday that the US military had established a shipping corridor in the critical waterway , which carries millions of barrels of oil each day. There was no word from Ravid on whether the 40 tankers sailed through the new shipping corridor.
Even with these transits, the emerging energy crisis is not centered on crude availability , as SPRs around the world are being tapped to offset lost production in the Gulf region. Instead, the real crisis is materializing in the refined-products market.
The focus emerged at the start of the week when Bloomberg's front-month US diesel crack spread (HOCL1 Index) topped $100 a barrel, as we warned: "Industrial economy either grinds to a halt or consumers about to be hit with the biggest energy pass-through in history."
Then, by Wednesday, Jeff Currie, the former Goldman Sachs commodities chief and now co-chair of Abaxx Markets, appeared on CNBC to explain that the real crisis is not in crude but in diesel markets.
"Nobody on the planet Earth consumes crude oil, " Currie told CNBC . "Refineries do. Everyone else consumes gasoline, diesel and jet fuel, and those markets look considerably uglier ."
By Thursday, Currie explained that the convergence of tight physical markets, currency debasement and policy intervention represents the hallmark of a structural commodity bull cycle .
"Stop looking at crude. Nobody consumes it but refineries. The economy runs on gasoline and diesel, and that consumption-weighted basket costs $165 against $85 WTI ," Currie wrote on X. Read the report .
Related:
The US diesel crack spread closed below $100 on Friday, but the Hormuz disruption, compounded by Ukraine's decimation of Russia's refining capabilities, is creating a perfect storm for global diesel markets ahead of the Northern Hemisphere winter.
Tyler Durden
Sat, 08/22/2026 - 15:45 Close