Tej Deol 🇺🇸 🇦🇪 🇸🇬 🇨🇦

[James E. Thorne @DrJStrategy]

Is Canada finally waking up?

“The best years of your life are the ones in which you decide your problems are your own. You do not blame them on your mother, the ecology, or the president,” wrote Albert Ellis. Canada’s downturn is what it looks like when a country refuses that responsibility.

For years, politically convenient narratives elevated Canadian home bias to bubble levels. Washington, and Donald Trump in particular, were cast as protagonists in a story that is overwhelmingly domestic in origin. For the MSM and politicians in Canada it was a convenient scapegoat that Canadians bought hook line and sinker.

The data told a simpler tale: the crowding out of the private sector by the public sector, excessive regulation, virtue signalling industrial policy, weak productivity, chronically low business investment per worker, and flatlining real GDP per capita were visible three or four years ago. Policy did not adjust.

Instead, Canada chose economic virtue over comparative advantage, hard‑wiring climate signalling into industrial strategy while constraining its most competitive asset: large‑scale, exportable natural resources. That choice did not merely leave growth on the table; it mispriced risk. The average Canadian lives is denial of Canada’s true economic predicament.

You can see the mispricing on the screen. Royal Bank of Canada trades at roughly 3.6 times tangible book value, while Bank of America sits closer to 1.6 times, a gap that implies a structural Canadian safety premium the fundamentals do not justify. The spread reflects not superior prudence, but a refusal to price Canadian risk for what it is.

To be clear, Bay Street and the Bank of Canada are still in denial about the country’s economic circumstances. That inability, or unwillingness, to offer an objective diagnosis is what helped get Canada into this mess in the first place.

Now, as reality becomes harder to ignore, the rhetorical awakening has begun, but it is too late to avert a painful adjustment, and too early to claim a serious course correction. When these assets finally re‑rate, it will not be because of who sits in the Oval Office. It will be because Canada has exhausted the alibi of blaming anyone else.

https://t.co/N0w1bZ4X3x

[J Stewart @triffic_stuff_]

🚨 BOOM! Nick Ferrari just put Deputy PM David Lammy on the ropes LIVE on LBC! 🔥

“Would you take the knee for Henry Nowak?”

Lammy instantly flustered, stuttering like he’s been caught red-handed:

“Uhh… well I, look, I, I, I, I think… to honour what’s that family…”

Ferrari cuts through the waffle:

“It’s a yes or no, Mr Lammy. Would you take the knee for Henry Nowak?”

Lammy, clearly squirming:

“I think… no. Because, look, I don’t think the family are asking for symbolism. They’re asking for genuine common sense policing and a reduction in knife crime.”

Ferrari pounces:

“So you agree, taking the knee is mere symbolism? It was a bit of a charade at times?”

Lammy’s brain completely melts:

“That was a moment back then when we were still in the pandemic. This is today. This is this particular incident in our country that’s heart-rending.”

The pandemic?! What the actual f*ck has COVID got to do with it? 😂 His head had totally gone. Nick Ferrari absolutely broke him on air.

This is the same David Lammy who was one of the biggest cheerleaders for BLM, repeatedly defended taking the knee, slammed anyone who questioned it, and pushed the George Floyd narrative hard, yet suddenly it’s all “symbolism” and excuses when it’s a young British lad stabbed to death.

Well done, Nick Ferrari 👏 You exposed the hypocrisy and double standards for everyone to see. No wonder people are furious.

[Eyal Yakoby @EYakoby]

It’s literally just the same 10 people interviewing each other.

[Bitcoin Teddy @Bitcoin_Teddy]

Reporter: How do you feel about the Iranian Foreign Minister accusing the US and Israel of genocide?

Marco Rubio: The Iranian? He's an expert in genocide. They've killed thousands. Every problem in the Middle East is Iran. Hezbollah? Iran. Shia militias destroying and threatening Iraq? Iran. Hamas? Iran. Houthis? Iran. Assad in Syria? Iran. Everywhere you turn, they're behind all of it.

[Jenn Pellegrino 🇺🇸 @JennPellegrino]

John Bolton spent 2024 going on every cable show in America smearing President Trump as a criminal for retaining classified documents.

Today he pled guilty to doing exactly what he falsely accused President Trump of.

The irony is unreal!

[Department of State @StateDept]

Ideological conditioning and two-tiered policing are glaring symptoms of civilizational decline. They must be rejected across the West.

The United States sends our condolences to the family of Henry Nowak and the people of the United Kingdom at this troubling time.

[NEXTA @nexta_tv]

⚡️⚡️⚡️ Zelensky wrote an open letter to Putin

When you came to power in Russia more than 26 years ago, many in Ukraine had a positive attitude toward you. That was true. That is now in the past.

Today, the absolute majority of Ukrainians positively view the fact that our long-range drones “visited” the opening of your forum in St. Petersburg, covering a distance of more than 1,000 kilometers. As you well know, this distance is not the limit of our capabilities.

But now we all see that this is finally becoming unacceptable for Russians — that the war is bringing more and more negative consequences to Russia.

They do not like our drones and missiles.
They do not like fuel shortages and constant price increases.
They do not like ongoing bans.
They do not like your intention to launch a second wave of mobilization to expand the war to another direction in Ukraine or to direct it against other neighboring countries.
They do not like that your war has no end in sight.
Yes, you can still force Russians to live this way. But your resources are significantly shrinking.
You cannot fail to notice this. After 26 years, old age is starting to take its toll. The further it goes, the more fatigue will grow — including from you.
It’s not that we in Ukraine are worried about Russians — after everything your war has brought to Ukraine. But I care about Ukrainians.
We are losing our people, and every loss is painful. And even when Ukrainian losses are one to five or one to six compared to Russian losses, it still matters greatly.

Ukraine preserves its independence. And it will preserve it — despite any predictions.

We have brought the war onto your territory, and you would not have managed it without help from North Korea. You are the first Russian leader who has had to turn to Pyongyang for assistance.

And today you are completely dependent on China — also a first in Russian history.

The choice is yours now. Stop the war. Ukraine offers to end this war. I propose a meeting.

We believe Europe’s participation is necessary — those who are truly capable of influencing the situation. We believe the United States must be involved, and this could determine the configuration of a new security architecture in our part of the world.

The frontline is now the line from which diplomacy should begin.

Ukraine is ready for a “all for all” prisoner exchange, and this could become a good prologue to ending the war.

If you do not personally come to the idea that this war must end, Ukraine will continue to fight for its existence. We will have those who support us.

But you will also have to fight much more for your own existence — not Russia’s, but your personal one. And this is not a threat from me or Ukraine. These are facts of Russian history: when Russia grows tired, changes happen.

We can work toward that fatigue. You can stop your war.

Eternal memory to all whose lives were taken by this war.

Glory to Ukraine.

[James E. Thorne @DrJStrategy]

Stanley Fischer Would Applaud This

Warsh can’t scrap the dot plots and forward guidance fast enough. In a world where Stanley Fischer prized humility about models and genuine data dependence, the current regime looks like the opposite: an illusion of precision that locks policy into yesterday’s forecast and invites the Street to trade “the path” rather than the data. The dots convert a committee’s uncertainty into a pseudo‑promise, then punish any attempt to change course as a credibility problem rather than a sign of learning.

Worse, the communications revolution has metastasized into a noise factory. There is no plausible world in which a dozen regional presidents and assorted governors doing a daily speaking tour improves policy or price discovery. It fragments the reaction function, encourages grandstanding, and turns every luncheon remark into a tradable headline. A central bank is not a content platform; it is, as Fischer would insist, a steward of stability, not a streaming service for half‑formed views.

If Warsh is serious about restoring the Fed’s authority, the fix is straightforward: scrap the dots, radically curtail forward guidance, and shut down most of the
speechmaking. Let the institution speak mainly through its decisions and a small number of tightly disciplined communications. Fewer words, clearer incentives, more genuine uncertainty, forcing markets back to the hard work of inference rather than quote‑mining Fedspeak.

[James E. Thorne @DrJStrategy]

Food for thought

We are running 21st‑century monetary policy on a 1913 operating system. It is time to scrap the Federal Reserve’s regional offices and their presidents and admit that a map drawn for the age of railroads has no place in a world of real‑time data.

The 12 regional banks were a political compromise, not a sacred design.

They were built for localized banking, slow communication, and expensive travel. Today, the Fed does not need a president in Minneapolis or St. Louis to tell it what credit markets are doing; markets and payment systems report conditions to Washington in milliseconds. The “regional voice” rationale has become nostalgia masquerading as governance.

Worse, the current structure diffuses responsibility while adding noise. Regional presidents give speeches, move markets, and sometimes dissent, yet they are neither consistently Senate‑confirmed nor clearly accountable when policy errors pile up. Their research shops largely share the same academic priors as the Board in Washington, so the supposed decentralization mostly produces duplication, not diversity of thought.

A cleaner model is straightforward: a single, nationally accountable central bank with a smaller, clearly identified policy committee and a professional staff. Preserve regional information channels, surveys, business contacts, outreach, without propping up 12 quasi‑independent fiefdoms invented to pass the Federal Reserve Act.

If we were designing a central bank from scratch today, no serious planner would reproduce this sprawl. We would not outsource key votes to lightly scrutinized local presidents or confuse blurred lines of authority with checks and balances. Streamlining the Fed, eliminating regional offices and their president is the necessary first step toward a central bank that is both more limited and more accountable.

[olexander scherba🇺🇦 @olex_scherba]

Putin speaking at today’s St Petersburg Economic Forum….

[DataRepublican (small r) @DataRepublican]

https://t.co/tOw7vgySsn

[Matt Loszak @MattLoszak]

"You can't build nuclear quickly"

Built our first 10 MW-scale reactor and facility from bare dirt in 5 months.

"You can't build nuclear affordably"

Only spent $70M in our company history. Includes our real reactor & facility, fuel, prototypes, factory & equipment, payroll, regulatory costs, etc.

"You can't build small nuclear at scale"

🔜 About to build out our 1,000,000 sqft factory space.

More to come.

[GunShyMartyr @jimmy_rustlin]

You've probably seen his face a dozen times in media news, but he never says his name. He's the media coordinator to Resistencia en Accion and Radio Journalera.

[OSINTdefender @sentdefender]

Absolutely embarrassing morning for Russian President Vladimir Putin. As Ukrainian one-way attack drones fly nearly unimpeded over St. Petersburg - over 500 miles from Ukraine - several slamming into a major oil terminal in the city, starting massive fires and creating pillars of black smoke that can be seen by everyone who has arrived Wednesday for the start of the St. Petersburg International Economic Forum (SPIEF).

[Hedgeye @Hedgeye]

🇨🇳 Chinese crude oil imports hit lowest level in a decade

[BostonTea @BostonTea84]

Oglądam to już po raz trzeci i nie mogę przestać.

Chłop przyleciał z UK do USA i pyta się ludzi, czemu czarni mają wyższe wskaźniki przemocy niż inne grupy demograficzne. Nagle w kadr wchodzi agresywny murzyn z Afryką na koszulce i grozi mu brutalnym pobiciem.

-Dlaczego jesteś taki nerwowy?
-Bo powstrzymuje się, żeby nie rozjebać ci szczęki.
-Możesz to zrobić, ale zostaniesz aresztowany.
-Mam to w dupie! Nie przyszedłem tu rozmawiać.

Stereotypy są prawdziwe. Prawdziwość stereotypów jest drugim najlepiej empirycznie udokumentowanym i powtarzalnym wynikiem w naukach społecznych.

[Patrick Hsu @pdhsu]

people aren’t celebrating this pancreatic cancer breakthrough enough. it should be international news

[Joel M. Petlin @Joelmpetlin]

Tens of thousands of people gathered in Manhattan today with:

No face masks.
No terrorist flags.
No chants threatening violence.

In case you're confused by the images of pro Palestinian gatherings in New York City, the Israel Day Parade is what a peaceful rally looks like.

[TRUMP SUPPORTER @_Postive_Vibes]

TREASURY SECRETARY SCOTT BESSENT DROPPED BOMBSHELL WARNING:

"President Trump has declared Antifa a domestic terrorst organization. Anyone caught funding or supporting this violence will be held accountable."

[WORLD NEWS @_MAGA_NEWS_]

PRESIDENT TRUMP: "In 2024, almost 50% of inmates in German prisons were foreign nationals or migrants.. In Switzerland, it’s 72%.. When your prisons are filled with so-called asylum-seekers who repaid kindness with crime, it's time to END the failed experiment of Open Borders."