Celibacy is always, shall we say, an affront to what man normally thinks. It is something that can be done, and is only credible, if there is a God and if celibacy is my doorway into the kingdom of God.
All
The Ghetto-ization Of American Life
The Ghetto-ization Of American Life
Tyler Durden
Thu, 04/25/2024 - 17:25
Authored by Charles Hugh Smith via OfTwoMinds blog,
Behind the facade of normalization, even high-income lifestyles have been ghetto-ized.
Consider the defining characteristics of a ghetto:
1. The residents can't afford to live elsewhere.
2. Everything is a rip-off because options are limited and retailers / service providers know residents have no other choice or must go to extraordinary effort to get better quality or a lower price.
3. Nothing works correctly or efficiently. Things break down and aren't fixed properly. Maintenance is poor to non-existent. Any service requires standing in line or being on hold.
4. Local governance is corrupt and/or incompetent. Residents are viewed as a reliable "vote farm" for the incumbents, even though whatever little they accomplish for the residents doesn't reduce the sources of immiseration.
5. The locale is unsafe. Cars are routinely broken into, there are security bars over windows and gates to entrances, everything not chained down is stolen--and even what is chained down is stolen.
6. There are few viable businesses and numerous empty storefronts.
7. The built environment is ugly: strip malls, used car lots, etc. There are few safe public spaces or parks that are well maintained and inviting.
8. Most of the commerce is corporate-owned outlets; the money doesn't stay in the community.
9. Public transport is minimal and constantly being degraded.
10. They get you coming and going: whatever is available is double in cost, effort and time. Very little is convenient or easy. Services are far away.
11. Residents pay high rates of interest on debt.
12. There are few sources of healthy real food. The residents are unhealthy and self-medicate with a panoply of addictions to alcohol, meds, painkillers, gambling, social media, gaming, celebrity worship, etc.
13. Nobody in authority really cares what the residents experience, as they know the residents are atomized and ground down, incapable of cooperating in an organized fashion, and therefore powerless.
I submit that these defining characteristics of ghettos apply to wide swaths of American life. Ghettos are not limited to urban zones; suburbs and rural locales can qualify as well. The defining zeitgeist of a ghetto is the residents are effectively held hostage by limited options and high costs: public and private-sector monopolies that provide poor quality at high prices.
Daily life is a grind of long waits / commutes, low-quality goods and services, shadow work (work we have to do that we're not paid for that was once done as part of the service we pay for) and unhealthy addictions to distractions and whatever offers a temporary escape from the grind.
We've habituated to being corralled into the immiseration of limited options and high costs; the immiseration and sordid degradation have been normalized into "everyday life." We've lost track of what's been lost to erosion and decay. We sense what's been lost but feel powerless to reverse it. This is the essence of the ghetto-ization of daily life.
Behind the facade of normalization, even high-income lifestyles have been ghetto-ized. But saying this is anathema: either be upbeat, optimistic and positive or remain silent.
What's worse, the ghetto-ization or our inability to recognize it and discuss it openly?
* * *
As Tax-Season Ebbs, Money-Market Funds See Return Of Inflows; Fed's Bank Bailout Fund Remains At $126BN
As Tax-Season Ebbs, Money-Market Funds See Return Of Inflows; Fed's Bank Bailout Fund Remains At $126BN
Tyler Durden
Thu, 04/25/2024 - 17:05
After the prior week's almost unprecedented outflows, total money market fund assets rose last week (admittedly by a modest $9.1BN), but remain below the $6TN level ($5.97TN) as tax-season draws roll off...
Source: Bloomberg
The flows into money-market fund assets through April 24 mainly on the back of inflows by institutional investors, which had led the tax-related decline the prior week. Institutions added $8.9 billion in money-market fund exposure.
Source: Bloomberg
In a breakdown for the week to April 24, government funds - which invest primarily in securities like Treasury bills, repurchase agreements and agency debt - saw assets rise to $4.84 trillion, a $3.97 billion increase.
Prime funds, which tend to invest in higher-risk assets such as commercial paper, meanwhile, saw assets rise to $1.02 trillion, a $3.15 billion increase.
Still, cash is expected to continue piling into money funds as long as the Federal Reserve keeps rates on hold - and this week has seen rate-cut expectations tumble further...
Source: Bloomberg
The Fed balance sheet continued to shrink, falling $32.8BN to its lowest since Jan 2021...
Source: Bloomberg
As The Fed starts discussing tapering QT, usage of The Fed's bank bailout facility (now expired but these are 12 month term loans) continued to decline (though only by a tiny $638MM), basically erasing all the late-period arb-driven inflows, leaving a huge $126BN hole in bank balance sheets still being filled by this...
Source: Bloomberg
This means the 'real' crisis money that banks used to save their souls is yet to really unwind from this bailout fund (and rates are considerably higher now than they were a year ago when the balance sheet holes were stuff with fake Fed paper - i.e. the losses are bigger).
Finally, we note that bank reserves at The Fed plunged last week and while US equity market cap has bounced a little in the last two days, we suspect the trend down (and a painful recoupling) remains a threat...
Source: Bloomberg
While there may be no rate-cuts anytime soon... will The Fed taper QT in a big enough manner to avoid that recoupling?
Lawmakers Ask IRS To Investigate Chinese Funding Of Anti-Israel Protests
Lawmakers Ask IRS To Investigate Chinese Funding Of Anti-Israel Protests
Tyler Durden
Thu, 04/25/2024 - 16:45
Authored by Eric Lundrum via American Greatness,
On Wednesday, lawmakers in the U.S. House of Representatives called for the Internal Revenue Service (IRS) to begin investigating the financial links between China and anti-Israel groups that have been protesting throughout the United States since October 7th.
According to the Washington Free Beacon, the request comes from members of the House Ways and Means Committee, who wrote a letter expressing concerns that “foreign adversaries are taking advantage of loopholes to impact American political activity with little-to-no transparency.”
One such example is The People’s Forum, a group that organized anti-Israel protests such as public school walkouts in New York City.
The group is bankrolled by Neville Roy Singham, a tech mogul with pro-China sympathies, as documented by the New York Times.
The People’s Forum urged students to chant anti-Semitic phrases, including “from the river to the sea, Palestine will be free,” which calls for the extermination of all Israelis.
Another example is The Energy Foundation, a U.S.-based nonprofit group that focuses primarily on global warming, yet operates mostly out of China and has deep ties to the ruling Chinese Communist Party (CCP).
This organization has repeatedly advocated for “green” energy policies that would hurt the United States’ energy production, to the benefit of China.
“Not only do these activities raise serious national security concerns, but they also raise questions about whether organizations like this receive foreign funding from America’s adversaries and whether the Internal Revenue Service (‘IRS’) is conducting oversight of entities like these,” said the letter sent by lawmakers to IRS commissioner Daniel Werfel.
The committee members asked if the IRS has “a definition of antisemitism in place within the agency that it considers when evaluating the claimed exempt purpose of a tax-exempt organization,” for the purposes of cracking down on such radical groups. The letter also asked if the IRS would eventually start an investigation into the various financial links between China and various domestic groups.
The Life of St Mark the Evangelist in Art
St Mark, whose feast is kept today, is the only evangelist who records that when the soldiers came to arrest Christ in the garden of Gethsemane, “a certain young man followed him, having a linen cloth cast about his naked body; and they laid hold on him. But he, casting off the linen cloth, fled from them naked.” (14, 51-52) In keeping with the common ancient practice of authorial anonymity, it Gregory DiPippohttp://www.blogger.com/profile/13295638279418781125noreply@blogger.com0
Canada's Euthanasia Regime - Interview with Dr Ramona Coelho
Alex Schadenberg
Executive Director, Euthanasia Prevention Coalition
Dr Ramona CoelhoAn excellent interview of Dr Ramona Coelho by Jonathon Van Maren was published in the European Conservative on April 24, 2024.
As stated by Van Maren, Dr Coelho is a family physician in London, Ontario, with a practice largely serving marginalized patients, she has testified before Parliament, laid out the dangers of legal euthanasia on TV and in print, and presciently warned policymakers of many of the scenarios we now see unfolding. Dr Coelho is a leading voice opposing Canada's euthanasia regime.
Van Maren begins the article by bringing up two of the most recent Canadian euthanasia stories and commenting on the issue of euthanasia for mental illness alone:
For the past several years, the euthanasia horror stories unfolding in Canada have captured the attention of the press on both sides of the Atlantic. I have detailed many of them in my reporting; as I write this, a desperate father is battling in court to prevent his healthy 27-year-old autistic daughter from dying by doctor-administered lethal injection; another Canadian has been approved for euthanasia after developing bedsores while waiting for necessary healthcare that is increasingly difficult to obtain.
At the end of January, the Trudeau government delayed, for the second time, their plan to expand euthanasia eligibility to Canadians struggling solely with mental illness. Initially, a strong majority of Canadians supported legal euthanasia in limited circumstances. The events of the past several years have begun to erode that support, and the Conservative Party is campaigning on a promise to pass legislation banning euthanasia for mental illness. It is an incredibly pressing issue: if suicide-by-doctor were to be made available to the mentally ill, Canada’s ever-rising euthanasia death rate would spike overnight.
Medical Assistance in Dying (MAiD) is the Canadian term that refers to both euthanasia and assisted suicide, although up to this point 99.9% of cases have been euthanasia (physician administered lethal cocktail to induce death, usually by IV) so I think it’s accurate and clearer to refer to this as euthanasia. However, it is possible that there might be more cases of assisted suicide (patient self-administers the lethal cocktail of drugs) in coming years as both are permitted. I will refer to it as MAiD just for ease and as some very few cases do involve assisted suicide.
Van Maren then asks Dr Coelho to comment on euthanasia for mental illness:
MAiD really never should have been an option for those with mental illness. Canadians face major barriers to access mental health care and numerous Canadian psychiatrists have voiced serious reservations about this expansion. We do not even understand how clinically to distinguish between the overwhelming majority of those with mental illness, who recover with suicide prevention and services, and those very few who might not. Such an expansion would allow healthcare practitioners arbitrarily to decide who deserves suicide prevention and who is deemed eligible for MAiD, potentially placing many Canadians’ lives at risk.
The legislation permitting MAiD for mental illness should have been permanently abandoned. But despite recommendations from its most recent parliamentary committee and most Canadian provinces asking that the legislation be indefinitely paused, the government has chosen simply to delay its implementation once again, this time until 2027. Politically, the delay in implementation of this legislation, rather than stopping it altogether, seems imprudent for the current government, as it may become a significant election issue. I would say Canadians are increasingly recognizing the risks of expanding MAiD to include individuals whose sole medical condition is mental illness.
Dr Coelho then comments on possible further expansions of MAiD in Canada:
And besides this, we still have the 2023 parliamentary recommendations to include MAiD for “mature” children and advance directives for euthanasia next. MAiD was initially introduced as an exceptional procedure to be used only for those near death with intolerable suffering, but once society embraces the intentional ending of one’s life as a treatment for suffering, it becomes practically impossible to contain, with Canada being a case in point.Dr Coelho then comments on the concerns with medical safety:
In February 2024, the Canadian Human Rights Commission expressed ongoing concern over reports indicating that individuals with disabilities opt for MAiD due to a lack of essential support services. The CHRC is joined by UN human rights experts, Canadian disability groups, Indigenous advocates, social justice groups, and numerous medical and legal professionals in these concerns.
I was interviewed for a documentary featuring the tragic MAiD death of Rosina Kamis, who, citing poverty and loneliness, chose MAiD due to insufficient support. Some Canadian bioethicists argue that MAiD under “unjust social circumstances” is a form of “harm reduction.” However, this is not a free autonomous choice, but death driven by desperation and structural inequalities.
Messages promoting suicide and easier access to lethal means heighten suicide risks. MAiD exacerbates these dangers, endangering vulnerable individuals by increasing the likelihood of being induced into a premature death. Additionally, healthcare providers’ often inaccurately rate the quality of life of individuals with disabilities as poor, which may lead to their biases leading to suggesting or approvals of MAiD, particularly when patients are experiencing transient low points in their lives.
Dr Coelho then comments on the model practise standard:
Health Canada’s “Model Practice Standard for Medical Assistance in Dying” suggests informing patients about MAiD if the practitioner suspects it aligns with patient values and preferences. In contrast, other jurisdictions discourage or prohibit raising death as a treatment option due to concerns about undue patient pressure. The model practice standard’s stance on “conscientious objection” supports “effective referral” of patients. This means that, if a physician is concerned that MAiD is not a patient’s best option, they must still refer the patient to ensure access to MAiD, instead of pausing or stopping the process.
Examples of these unsafe policies are evident in MAiD training videos. In one, an instructor recognizes that patients may choose MAiD for unmet psycho-social needs, suggesting referral for MAiD completion if discomfort arises. Another instructor in a separate video advises continuing the MAiD process even if a practitioner believes a patient doesn’t qualify for MAiD, suggesting doctor shopping is acceptable.
Certain regions in Canada have the highest MAiD death rates globally. By 2022, nearly 45,000 MAiD deaths occurred across Canada since its legalization—almost 13,000 in 2022 alone, with estimates for 2023 approaching 16,000. Canada’s MAiD regime has chosen to prioritize accessibility over patient safety.
Dr Coelho then comments on her experience with the disability community:
Realizing my political naivety while advocating for legislative change has been a profoundly sad and eye-opening experience. Despite the government’s repeated assurances of listening to the concerns of persons with disabilities and their advocates, the reality witnessed during parliamentary hearings has been disheartening, as their voices are frequently disregarded or dismissed.
Throughout these hearings, committee members have consistently challenged the credibility of accounts detailing abuses within the Medical Assistance in Dying (MAiD) system. They assert an unwavering trust in MAiD assessors, portraying them as professionals deserving of complete faith and trust to get it right every time. However, this confidence is inconsistently applied, as committee members often interrupt and question the integrity of medical and legal experts expressing caution or offering alternative perspectives.
Furthermore, the presence of physicians who are now part of the government on MAiD parliamentary committees has not resulted in the expected depth of medical expertise or unbiased guidance. Instead, their contributions have often been marked by bias, with loaded questions designed to limit responses and paint concerned witnesses as advocating for prolonged suffering. This portrayal is starkly at odds with the reality faced by patients who endure lengthy waits for treatment. This waiting for care and being neglected by our society and health care system wears people down and can lead to choosing MAiD as the only accessible option.
Dr Coelho then comments on the euthanasia lobby:
Behind the scenes, powerful lobby groups in Canada wield significant influence in shaping the debate surrounding the expansion of MAiD. These groups, backed by substantial funding for government relations, dictate the trajectory of discussions, often overshadowing the voices of the underfunded and marginalized disability community. Despite the government’s claims of inclusivity, the reality is that this debate has been primarily driven by powerful interests, rather than the voices of those directly affected.
In essence, the legislative process surrounding MAiD in Canada has exposed systemic flaws and power imbalances, highlighting the urgent need for genuine inclusivity and meaningful dialogue that centers on the experiences and concerns of the real stakeholders, the disability community, which is most directly impacted by these policies.
Coelho is then asked about what must be done to reduce MAiD:
Thomas Insel’s book Healing drives home the critical role community life, support networks, and purpose have in dictating mental health outcomes, thereby highlighting the need for proactive measures. Firstly, the government must fulfill its duty to ensure everyone gets timely care, counseling, and the community resources they need. It’s unfortunate that we’re offering death as an option without properly supporting people who are struggling. At the same time, establishing a national suicide prevention framework is imperative to mitigate the risk factors that could contribute to MAiD decisions.
Palliative care centers have to be prioritized, offering a range of services including pain management, emotional support, end-of-life planning, and counseling individuals facing terminal illness, alongside robust access to disability and mental health services. This entails a concerted effort to build expertise, expand medical care systems, and ensure widespread accessibility.
Investment in community systems is essential too, fostering relationships and a sense of purpose and belonging. By organizing regular community gatherings, support groups, and educational workshops, communities can forge stronger bonds, mitigating feelings of isolation and despair. On the ground level, everyone can be involved in making sure neighbours and family members feel they are needed and cared for.
Furthermore, Canada’s commitment to the UN Convention on the Rights of Persons with Disabilities must be upheld, ensuring the provision of essential services and support for those with disabilities and chronic illnesses. The government has to address the systemic lack of social, economic, and health supports in order to alleviate the suffering that may otherwise drive individuals towards MAiD. We know that suffering from social and economic deprivation actually increases overall suffering from disability as it becomes conflated.
In essence, reducing the number of victims under Canada’s MAiD regime requires a comprehensive approach. Only through concerted efforts across these fronts can Canada ensure the dignity and well-being of its citizens, particularly those facing vulnerability and suffering. We need to make people feel they can live with dignity.
Dr Coelho is then asked what a future government must do:
Sadly, many Canadians remain unaware of the risks of our MAiD regime. As I mentioned, once a society embraces ending life as a solution to suffering, containing this procedure becomes nearly impossible. Tragically, the victims of this system are dead and can be forgotten, silenced, unable to recount the injustices that may have influenced their “choosing” death.
Therefore, to start, completely repealing Bill C-7 is imperative. Anything less is unacceptable to the disability community and greatly perpetuates the risks that death is driven by unjust circumstances.
There is also an urgent need to redefine the terms used in legislation, particularly ambiguous terms like reasonably foreseeable natural death (RFND). Through broad interpretations, individuals with potentially years of life ahead of them are prematurely ending their lives through the RFND track—a practice that was intended only for those in the final stages of life. Moreover, we have people who are simply stating they will refuse care to make themselves sick enough to qualify for RFND; MAiD should only be available to those with a disease prognosis of six months or less, not to individuals deliberately inducing sickness to qualify.
It is necessary to stem the influence of powerful lobby groups and expansionist medical advocacy organizations like the Canadian Association of MAiD Assessors and Providers (CAMAP). CAMAP received 3.3 million Canadian dollars in funding from Health Canada to educate MAiD assessors and providers and has many problematic guidance policies. A balanced independent panel of experts, as urged by the Canadian Human Rights Commissioner, should be convened to review the MAiD regime. This panel should guide legislative amendments, Health Canada policies, and provincial regulatory bodies to increase patient safety.
Many existing policies clearly require revision, including raising MAiD unsolicited, enforced mandatory referrals, and the worrisome trend of integrating MAiD into all care facilities. Ideally, a civil board comprising a multidisciplinary team should evaluate each case before approval to mitigate choices to die that are driven by structural inequalities. We also need better, publicly available, data collection all around.
This is not merely a matter of individual autonomy; it is a public safety concern that is affecting marginalized and disabled individuals. When discussing autonomy, we must consider relational autonomy—what we owe to each other and society as a whole. MAiD is a public policy, so we must consider the well-being of all—not just those seeking to end their lives on their own terms.
Previous articles by or articles concerning Dr Ramona Coelho (Article links).
Google Soars To Record After Smashing Estimates, Launches $70 Billion Buyback And Starts Paying Dividend
Google Soars To Record After Smashing Estimates, Launches $70 Billion Buyback And Starts Paying Dividend
Tyler Durden
Thu, 04/25/2024 - 16:32
After the first two Mag7 companies were a study in market paradoxes, when TSLA missed across the board and soared (after guiding much better than expected) and META beat across the board but plunged (after guiding weaker than expected while boosting its spending forecast), moments ago two of the Mag7 giants, GOOGL and MSFT, both reported and this time there was far less drama: both beat, and saw their stock soaring after hours.
Focusing on Google parent Alphabet, Goldman said ahead of earnings that positioning here was not as excessive (at 7/10) which may be why the stock is soaring some 13% after the close on what otherwise appears to be a solid beat. Here are the details:
- EPS $1.89, beating estimate $1.53, and up more than 50% vs the $1.17 a year ago.
- Q1 Revenue $80.54 billion, beating the estimate of $79.04 billion, and up 15% YoY
- Google advertising revenue $61.66 billion, beating the estimate $60.18 billion
- YouTube ads revenue $8.09 billion, beating the estimate $7.73 billion
- Google Services revenue $70.40 billion, beating the estimate $69.06 billion
- Google Cloud revenue $9.57 billion, beating the estimate $9.37 billion
- Other Bets revenue $495 million, beating estimate $372.4 million
- Operating income $25.47 billion, beating estimate $22.4 billion
- Google Services operating income $27.90 billion, beating the estimate $24.3 billion
- Google Cloud operating income $900 million, beating the estimate $672.4 million
- Other Bets operating loss $1.02 billion, beating the estimate loss $1.12 billion
- Operating margin 32%, beating the estimate 28.6%
- Capital expenditure $12.01 billion, beating the estimate $10.32 billion
- Number of employees 180,895, down from 190,711
A quick point on YouTube: it was bought by Google in 2006 for $1.65 billion; YouTube now generates $1.65 billion of revenue every 18 days.
The results visually:
While Google's cloud numbers were stellar, with revenue rising from $7.5BN to $9.6BN, and beating estimates of $9.4BN, what investors wanted to hear was more about the company's progress on AI. This is what it had to say:
As announced on April 18, 2024, we are consolidating teams that focus on building artificial intelligence (AI) models across Google Research and Google DeepMind to further accelerate our progress in AI. AI model development teams previously under Google Research in our Google Services segment will be included as part of Google DeepMind, reported within Alphabet-level activities, prospectively beginning in the second quarter of 2024.
Like other Big Tech companies, Alphabet has been plowing money into developing artificial intelligence, a strategy that has helped drive demand for its cloud services, which saw revenue rise 28% in the first quarter. While Google remains a distant third in the cloud computing market, trailing Amazon and Microsoft, the company’s prowess in AI could help it close the gap.
Google has developed much of the underlying technology being used in the AI boom today, and has woven it into products from web search to its suite of enterprise software from Gmail to Google Docs. Yet ever since OpenAI’s ChatGPT was released in late 2022, Google has been battling the perception that it’s lagging behind Microsoft and OpenAI in rolling out new generative AI tools. The arrival of popular chatbots such as ChatGPT — which answers questions in a conversational tone rather than providing lists of links to other websites — has posed a threat to Google’s two-decade stranglehold on search. The company is struggling to compete in generative AI without cannibalizing its core profit machine.
Google has been scrambling to reassert its early lead in AI, after its early efforts were marred by embarrassing blunders, including a scandal over how its AI model Gemini handled race that forced the company to suspend image generation of people.
Commenting on the results, CFO Ruth Porat said: “Our strong financial results for the first quarter reflect revenue strength across the company and ongoing efforts to durably reengineer our cost base. We delivered revenues of $80.5 billion, up 15% year-on-year, and operating margin expansion.”
It certainly delivered, and just to make sure the market rewarded it, the company not only announced the start of new cash dividend at 20 cents...
Alphabet’s Board of Directors today approved the initiation of a cash dividend program, and declared a cash dividend of $0.20 per share that will be paid on June 17, 2024, to stockholders of record as of June 10, 2024, on each of the company’s Class A, Class B, and Class C shares.
... but also announced a new stock buyback program for $70 billion!
Alphabet’s Board of Directors today authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders, taking into account the economic cost and prevailing market conditions, including the relative trading prices and volumes of the Class A and Class C shares.
While investors have shown they are excited about the prospects of AI, they want tech companies to continue to focus on revenue and profit in the meantime. Meta, which competes with Google in AI and also digital advertising, suffered its worst stock decline since October 2022 after reporting that it would spend billions of dollars more this year on AI efforts and projecting weaker revenue for the current quarter. For its part, Google - which does not do forecasts - paid $12BN in capex in the quarter, $1.7 billion more than estimated.
For all the hoopla about AI, search advertising remains the engine of Google’s lucrative business, and the company is facing heightened competition there, too. Meta has been seeding AI tools throughout its advertising business and Snap Inc. has also undergone a total revamp of its ad business to improve ad targeting. The digital ad market is recovering from a post-pandemic slump, buoyed by the Olympics Games this summer, but Google is increasingly vying for those ad dollars with Meta and Snap.
If consumers gravitate from Google search to the new wave of chatbots, that could imperil the company’s search advertising juggernaut, which is expected to generate nearly $200 billion in revenue this year and the bulk of Alphabet’s profit.
Cloud has been a bright spot for Google, after it first became profitable early last year. Many young AI startups are founded by former Google employees, creating a strong pipeline of cloud clients.
For now, however, these concerns were on the backburner, with GOOGL stock exploding about 12% after hours, and trading at a new all time high.
Google Soars To Record After Smashing Estimates, Launches $70 Billion Buyback And Starts Paying Dividend
Google Soars To Record After Smashing Estimates, Launches $70 Billion Buyback And Starts Paying Dividend
Tyler Durden
Thu, 04/25/2024 - 16:32
After the first two Mag7 companies were a study in market paradoxes, when TSLA missed across the board and soared (after guiding much better than expected) and META beat across the board but plunged (after guiding weaker than expected while boosting its spending forecast), moments ago two of the Mag7 giants, GOOGL and MSFT, both reported and this time there was far less drama: both beat, and saw their stock soaring after hours.
Focusing on Google parent Alphabet, Goldman said ahead of earnings that positioning here was not as excessive (at 7/10) which may be why the stock is soaring some 13% after the close on what otherwise appears to be a solid beat. Here are the details:
- EPS $1.89, beating estimate $1.53, and up more than 50% vs the $1.17 a year ago.
- Q1 Revenue $80.54 billion, beating the estimate of $79.04 billion, and up 15% YoY
- Google advertising revenue $61.66 billion, beating the estimate $60.18 billion
- YouTube ads revenue $8.09 billion, beating the estimate $7.73 billion
- Google Services revenue $70.40 billion, beating the estimate $69.06 billion
- Google Cloud revenue $9.57 billion, beating the estimate $9.37 billion
- Other Bets revenue $495 million, beating estimate $372.4 million
- Operating income $25.47 billion, beating estimate $22.4 billion
- Google Services operating income $27.90 billion, beating the estimate $24.3 billion
- Google Cloud operating income $900 million, beating the estimate $672.4 million
- Other Bets operating loss $1.02 billion, beating the estimate loss $1.12 billion
- Operating margin 32%, beating the estimate 28.6%
- Capital expenditure $12.01 billion, beating the estimate $10.32 billion
- Number of employees 180,895, down from 190,711
A quick point on YouTube: it was bought by Google in 2006 for $1.65 billion; YouTube now generates $1.65 billion of revenue every 18 days.
The results visually:
While Google's cloud numbers were stellar, with revenue rising from $7.5BN to $9.6BN, and beating estimates of $9.4BN, what investors wanted to hear was more about the company's progress on AI. This is what it had to say:
As announced on April 18, 2024, we are consolidating teams that focus on building artificial intelligence (AI) models across Google Research and Google DeepMind to further accelerate our progress in AI. AI model development teams previously under Google Research in our Google Services segment will be included as part of Google DeepMind, reported within Alphabet-level activities, prospectively beginning in the second quarter of 2024.
Like other Big Tech companies, Alphabet has been plowing money into developing artificial intelligence, a strategy that has helped drive demand for its cloud services, which saw revenue rise 28% in the first quarter. While Google remains a distant third in the cloud computing market, trailing Amazon and Microsoft, the company’s prowess in AI could help it close the gap.
Google has developed much of the underlying technology being used in the AI boom today, and has woven it into products from web search to its suite of enterprise software from Gmail to Google Docs. Yet ever since OpenAI’s ChatGPT was released in late 2022, Google has been battling the perception that it’s lagging behind Microsoft and OpenAI in rolling out new generative AI tools. The arrival of popular chatbots such as ChatGPT — which answers questions in a conversational tone rather than providing lists of links to other websites — has posed a threat to Google’s two-decade stranglehold on search. The company is struggling to compete in generative AI without cannibalizing its core profit machine.
Google has been scrambling to reassert its early lead in AI, after its early efforts were marred by embarrassing blunders, including a scandal over how its AI model Gemini handled race that forced the company to suspend image generation of people.
Commenting on the results, CFO Ruth Porat said: “Our strong financial results for the first quarter reflect revenue strength across the company and ongoing efforts to durably reengineer our cost base. We delivered revenues of $80.5 billion, up 15% year-on-year, and operating margin expansion.”
It certainly delivered, and just to make sure the market rewarded it, the company not only announced the start of new cash dividend at 20 cents...
Alphabet’s Board of Directors today approved the initiation of a cash dividend program, and declared a cash dividend of $0.20 per share that will be paid on June 17, 2024, to stockholders of record as of June 10, 2024, on each of the company’s Class A, Class B, and Class C shares.
... but also announced a new stock buyback program for $70 billion!
Alphabet’s Board of Directors today authorized the company to repurchase up to an additional $70.0 billion of its Class A and Class C shares in a manner deemed in the best interest of the company and its stockholders, taking into account the economic cost and prevailing market conditions, including the relative trading prices and volumes of the Class A and Class C shares.
While investors have shown they are excited about the prospects of AI, they want tech companies to continue to focus on revenue and profit in the meantime. Meta, which competes with Google in AI and also digital advertising, suffered its worst stock decline since October 2022 after reporting that it would spend billions of dollars more this year on AI efforts and projecting weaker revenue for the current quarter. For its part, Google - which does not do forecasts - paid $12BN in capex in the quarter, $1.7 billion more than estimated.
For all the hoopla about AI, search advertising remains the engine of Google’s lucrative business, and the company is facing heightened competition there, too. Meta has been seeding AI tools throughout its advertising business and Snap Inc. has also undergone a total revamp of its ad business to improve ad targeting. The digital ad market is recovering from a post-pandemic slump, buoyed by the Olympics Games this summer, but Google is increasingly vying for those ad dollars with Meta and Snap.
If consumers gravitate from Google search to the new wave of chatbots, that could imperil the company’s search advertising juggernaut, which is expected to generate nearly $200 billion in revenue this year and the bulk of Alphabet’s profit.
Cloud has been a bright spot for Google, after it first became profitable early last year. Many young AI startups are founded by former Google employees, creating a strong pipeline of cloud clients.
For now, however, these concerns were on the backburner, with GOOGL stock exploding about 12% after hours, and trading at a new all time high.
Biden Campaign To Remain On TikTok Even After Signing Bill To Ban App
Biden Campaign To Remain On TikTok Even After Signing Bill To Ban App
Tyler Durden
Thu, 04/25/2024 - 16:30
Authored by Eric Lundrum via American Greatness,
Despite the fact that Joe Biden signed into law a bill that will ban the Chinese social media app TikTok if its parent company does not sell it, his campaign will continue to use the app in the meantime.
As Fox News reports, campaign officials confirmed on Wednesday that the Biden campaign “will stay on TikTok,” even after Biden signed a massive foreign aid package which included the provision on TikTok.
The law requires ByteDance, the Chinese parent company of TikTok, to sell the app within nine months or else the app will be banned from use in the United States.
The law banning TikTok had been in the works on Capitol Hill for some time, with lawmakers on both sides of the aisle expressing national security concerns over TikTok’s close ties to the Chinese government, as well as privacy concerns regarding users’ personal data.
The provision to ban TikTok was included in the broader $95 billion foreign aid bill, which included money for Ukraine, Israel, and Taiwan.
A standalone bill on TikTok had stalled in the Senate, so Republicans simply worked the legislation into the overall aid package in order to guarantee its passage. The bill passed both houses with overwhelming support.
Whereas the original TikTok bill gave ByteDance six months to sell the app, the final version gives the company nine months to sell, thus setting the deadline after the November election.
If a sale is confirmed to be in the process, the legislation gives the company an extra three months to finalize the deal.
TikTok has refused to capitulate to the new law, repeatedly denying accusations of privacy breaches or being a national security threat.
“At the stage that the bill is signed, we will move to the courts for a legal challenge,” said Michael Beckerman, TikTok’s head of public policy for the Americas, in a memo sent to all employees on Saturday.
“This is the beginning, not the end of this long process.”
Following the passage of the law, TikTok declared the new legislation to be “unconstitutional.”
“This unconstitutional law is a TikTok ban, and we will challenge it in court,” the company said in a statement on Wednesday.
“We believe the facts and the law are clearly on our side, and we will ultimately prevail.”
“This ban would devastate seven million businesses and silence 170 million Americans,” the statement continued. “As we continue to challenge this unconstitutional ban, we will continue investing and innovating to ensure TikTok remains a space where Americans of all walks of life can safely come to share their experiences, find joy, and be inspired.”
Microsoft Surges As AI-Growth Drives Across-The-Board Beat
Microsoft Surges As AI-Growth Drives Across-The-Board Beat
Tyler Durden
Thu, 04/25/2024 - 16:16
Investors can exhale after META's meltdown as MSFT just reported better-than-expected revenues in Q3 of $61.86 billion (estimate $60.87 billion).
All the business segments also beat expectations:
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Productivity and Business Processes revenue $19.57 billion, estimate $19.54 billion
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More Personal Computing revenue $15.58 billion, estimate $15.07 billion
With the AI-exposed segments strong:
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Microsoft Cloud revenue $35.1 billion, estimate $33.93 billion
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Intelligent Cloud revenue $26.71 billion, estimate $26.25 billion
“This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year, driven by strong execution by our sales teams and partners,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
Azure revenue gained 31% in the quarter, above an average prediction of 29%, picking up slightly from the 30% growth in the previous period.
“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry," said Satya Nadella, chairman and chief executive officer of Microsoft.
Investors are liking what they are seeing from the earnings so far with MSFT up around 5% after hours, erasing the META-driven losses during the day...
Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.
Microsoft Surges As AI-Growth Drives Across-The-Board Beat
Microsoft Surges As AI-Growth Drives Across-The-Board Beat
Tyler Durden
Thu, 04/25/2024 - 16:16
Investors can exhale after META's meltdown as MSFT just reported better-than-expected revenues in Q3 of $61.86 billion (estimate $60.87 billion).
All the business segments also beat expectations:
-
Productivity and Business Processes revenue $19.57 billion, estimate $19.54 billion
-
More Personal Computing revenue $15.58 billion, estimate $15.07 billion
With the AI-exposed segments strong:
-
Microsoft Cloud revenue $35.1 billion, estimate $33.93 billion
-
Intelligent Cloud revenue $26.71 billion, estimate $26.25 billion
“This quarter Microsoft Cloud revenue was $35.1 billion, up 23% year-over-year, driven by strong execution by our sales teams and partners,” said Amy Hood, executive vice president and chief financial officer of Microsoft.
Azure revenue gained 31% in the quarter, above an average prediction of 29%, picking up slightly from the 30% growth in the previous period.
“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry," said Satya Nadella, chairman and chief executive officer of Microsoft.
Investors are liking what they are seeing from the earnings so far with MSFT up around 5% after hours, erasing the META-driven losses during the day...
Microsoft will provide forward-looking guidance in connection with this quarterly earnings announcement on its earnings conference call and webcast.
Stagflation Signal Slams Stocks & Bonds; Bullion & Black Gold Bid
Stagflation Signal Slams Stocks & Bonds; Bullion & Black Gold Bid
Tyler Durden
Thu, 04/25/2024 - 16:00
Overall, US macro data has suddenly started to disappoint (not the least of which was today's ugly GDP print)...
Source: Bloomberg
But, while 'bad news' for the economy has recently been 'good news' for stocks (enables an easier Fed), today's data 'punched that narrative in the face' with Core PCE price index in Q1 soaring considerably more than expected. And here's the problem - inflation expectations are surging at the same time as growth expectations are sliding - the nemesis of every central banker is upon us: STAGFLATION.
It's been a theme all year but recently has become so much more pronounced that not even the best 'spinners' can ignore...
Source: Bloomberg
And that sent rate-cut expectations plummeting to cycle lows (and took June completely off the table for a cut)(
Source: Bloomberg
Combine the ugly macro data with some ugly micro (META) and Goldman's trading desk noted overall flow was skewed better to sell:
LO’s driving more of the supply here with a -3% sell skew. An outlier is that we are seeing very real demand in AAPL from both HF and L/O community. META seeing very little defense from L/O . Overall activity from the group feels muted.
In the HF community we are slightly better to buy. Very notable that in macro products, short ratios are elevated to 75%. We are seeing cover buying in the Tech.
Overall, the majors were all lower close to close, but well off their knee-jerk lows from the GDP/PCE data... The Dow was the laggard on the day (with IBM & CAT the biggest points drag). The rest of the majors were all equally pummeled (though we do note that Nasdaq is still up over 2% on the week)...
The initial puked slammed The Dow and Nasdaq back below their 100DMAs and the ramp-fest back up to that critical technical level, but that couldn't hold into the close...
As you'd expect, given META's meltdown, the basket of MAG7 stocks was ugly out of the gate - and ended red - but staged a decent comeback during the day...
Source: Bloomberg
And 'most shorted' stocks followed a similar trajectory - squeezing higher after an ugly open...
Source: Bloomberg
Tech stocks overall ended marginally lower, Energy outperformed while Real Estate and Healthcare lagged...
Source: Bloomberg
Treasuries were clubbed like a baby seal on the macro data and pulled back only modestly during the day with the short-end and belly underperforming the long-end...
Source: Bloomberg
2Y Yields broke above 5.00% AGAIN... but were unable to close above it AGAIN...
Source: Bloomberg
The dollar spiked immediately higher on the GDP data, but as the day wore on, the dollar bled back its gains to end lower on the day...
Source: Bloomberg
Gold prices rallied on the day, shrugging off the vol in the dollar...
Source: Bloomberg
Bitcoin managed gain on the day after overnight weakness...
Source: Bloomberg
Crude prices managed solid gains after early weakness with WTI rallying back up towards $84...
Source: Bloomberg
Finally, we are down to the vinegar strokes of the week with GOOGL & MSFT tonight, and PCE tomorrow...
Source: Bloomberg
...and don't forget The Fed next week where no action is expected, but the words may speak even louder this time.
Why Is A Sensible Immigration Policy Discussion So Hard
Why Is A Sensible Immigration Policy Discussion So Hard
Tyler Durden
Thu, 04/25/2024 - 15:45
By Mish Shedlock of MishTalk
Why is the choice between shutting down the border and no controls at all? And what about demographics? Fertility rates?
Immigration Talks We Should Be Having
Eurointelligence discusses the Immigration Talks We Should Be Having.
The ideas also apply to the US.
Last week, the European Commission set out its ambitions to strike a deal with Lebanon, to stop asylum-seekers reaching the EU from there. Giorgia Meloni [Italy’s Pime Minister] now spends so much time in Tunisia, where the EU signed another agreement to limit migration, that she should consider buying a time-share in Bizerte.
Fabio Panetta, the Banca d’Italia’s governor, recently made a welcome intervention on this. He made a point which you do not hear very often: that without more immigration, the EU will sink demographically. That will mean both its economic and fiscal situation becoming unsustainable. According to Panetta, a common EU-level policy is necessary. Migrants, legally or not, come into the EU as a whole. Even if they are legally restricted to one member state, practically speaking there is often little to stop them moving across borders in a border-free Schengen area.
In Panetta’s own home country, the situation is especially bad. Italy’s total fertility rate is now 1.25 as of 2021. This is far below the so-called replacement level of 2.1, which is necessary to keep a country’s population stable. The only thing stopping its population from cratering is the immigration it receives already. Even if the government could stumble on a way to increase the total fertility rate to replacement level, something virtually no developed country has managed, there would still be inertia.
This basic demographic reality is acute in Italy, but not unique to it. The only countries mitigating it so far are those that accept high numbers of immigrants and integrate them into the workforce, like the UK, Spain, and Portugal. Yet it is something politicians skirt around, for fear that their voters are not prepared to hear the truth.
What you end up with is a worst-of-both-worlds situation. Politicians, especially if they act on their own and not on the EU level, cannot get a handle on irregular migration and asylum-seekers, despite repeatedly promising to. All they accomplish is raising the issue’s salience, while driving disillusioned voters to the far-right.
But on the other hand, they dodge the other side of the coin, the need to accept and properly integrate migrants to keep demographic, and fiscal, balances stable. Until governments are prepared to acknowledge these trade-offs, we should be wary of the feasibility of any commitments they make to consolidate public finances in the long term.
US Fertility Rate
The lead image is from MacroTrends.
The following snip is from VOX.
In the US, the birth rate has been falling since the Great Recession, dropping almost 23 percent between 2007 and 2022. Today, the average American woman has about 1.6 children, down from three in 1950, and significantly below the “replacement rate” of 2.1 children needed to sustain a stable population. In Italy, 12 people now die for every seven babies born. In South Korea, the birth rate is down to 0.81 children per woman. In China, after decades of a strictly enforced one-child policy, the population is shrinking for the first time since the 1960s. In Taiwan, the birth rate stands at 0.87.
The US numbers from VOX are a bit low. The lead chart is more current but I like the VOX discussion. Were it not for immigration, the US population would be in decline.
Is that necessarily a bad thing? At what point does increasing population become a Ponzi scheme due to the energy and food needs?
There are a lot of questions and the only thing everyone seems to agree on is that uncontrolled migration is bad. Even Biden admits that, but he is unwilling to do anything about it.
Progressive Irony
Progressives want open borders but they also want guaranteed living wages, clean energy, slave reparations, a right to shelter, a right to free health care, and net zero carbon. The goals are incompatible.
In the next 5 years employment in age groups 60+ will drop by ~12.5 million
On March 21, I commented In the next 5 years employment in age groups 60+ will drop by ~12.5 million
Due to age demographics, I expect employment in age groups 60 and over to decline by about 12.5 million. Let’s go over the math to see how I arrived at that number.
Government + Social Assistance Accounted for Nearly 60% of Job Growth in 2023
On January 5, I noted Government + Social Assistance Accounted for Nearly 60% of Job Growth in 2023
The welfare state is booming along with social assistance for illegal immigrants.
Family Formation
Taking a step back from immigration policy, why is it that family formation is so low? The unfortunate answer is Fed policy and fiscal policy is so inflationary, that young adults have come to expect they will be worse off than their parents.
If so, and that seems accurate, this will be the first time in US history.
Importantly, houses are too expensive. Zoomers and younger millennials are angry over housing costs. And millions of illegal immigrants need a home and services.
Rent is so expensive and anger so high over housing costs that People Who Rent Will Decide the 2024 Presidential Election
Finally, a recurring theme: The Fed’s Big Problem, There Are Two Economies But Only One Interest Rate
The Fed is largely responsible for the housing mess and Biden/Congress is responsible for the rest.
Yet Biden refuses to do anything lest he upset the Progressives who want open borders, guaranteed living wages, clean energy, a right to shelter, a right to free health care, and net zero carbon.
Why Is A Sensible Immigration Policy Discussion So Hard
Why Is A Sensible Immigration Policy Discussion So Hard
Tyler Durden
Thu, 04/25/2024 - 15:45
By Mish Shedlock of MishTalk
Why is the choice between shutting down the border and no controls at all? And what about demographics? Fertility rates?
Immigration Talks We Should Be Having
Eurointelligence discusses the Immigration Talks We Should Be Having.
The ideas also apply to the US.
Last week, the European Commission set out its ambitions to strike a deal with Lebanon, to stop asylum-seekers reaching the EU from there. Giorgia Meloni [Italy’s Pime Minister] now spends so much time in Tunisia, where the EU signed another agreement to limit migration, that she should consider buying a time-share in Bizerte.
Fabio Panetta, the Banca d’Italia’s governor, recently made a welcome intervention on this. He made a point which you do not hear very often: that without more immigration, the EU will sink demographically. That will mean both its economic and fiscal situation becoming unsustainable. According to Panetta, a common EU-level policy is necessary. Migrants, legally or not, come into the EU as a whole. Even if they are legally restricted to one member state, practically speaking there is often little to stop them moving across borders in a border-free Schengen area.
In Panetta’s own home country, the situation is especially bad. Italy’s total fertility rate is now 1.25 as of 2021. This is far below the so-called replacement level of 2.1, which is necessary to keep a country’s population stable. The only thing stopping its population from cratering is the immigration it receives already. Even if the government could stumble on a way to increase the total fertility rate to replacement level, something virtually no developed country has managed, there would still be inertia.
This basic demographic reality is acute in Italy, but not unique to it. The only countries mitigating it so far are those that accept high numbers of immigrants and integrate them into the workforce, like the UK, Spain, and Portugal. Yet it is something politicians skirt around, for fear that their voters are not prepared to hear the truth.
What you end up with is a worst-of-both-worlds situation. Politicians, especially if they act on their own and not on the EU level, cannot get a handle on irregular migration and asylum-seekers, despite repeatedly promising to. All they accomplish is raising the issue’s salience, while driving disillusioned voters to the far-right.
But on the other hand, they dodge the other side of the coin, the need to accept and properly integrate migrants to keep demographic, and fiscal, balances stable. Until governments are prepared to acknowledge these trade-offs, we should be wary of the feasibility of any commitments they make to consolidate public finances in the long term.
US Fertility Rate
The lead image is from MacroTrends.
The following snip is from VOX.
In the US, the birth rate has been falling since the Great Recession, dropping almost 23 percent between 2007 and 2022. Today, the average American woman has about 1.6 children, down from three in 1950, and significantly below the “replacement rate” of 2.1 children needed to sustain a stable population. In Italy, 12 people now die for every seven babies born. In South Korea, the birth rate is down to 0.81 children per woman. In China, after decades of a strictly enforced one-child policy, the population is shrinking for the first time since the 1960s. In Taiwan, the birth rate stands at 0.87.
The US numbers from VOX are a bit low. The lead chart is more current but I like the VOX discussion. Were it not for immigration, the US population would be in decline.
Is that necessarily a bad thing? At what point does increasing population become a Ponzi scheme due to the energy and food needs?
There are a lot of questions and the only thing everyone seems to agree on is that uncontrolled migration is bad. Even Biden admits that, but he is unwilling to do anything about it.
Progressive Irony
Progressives want open borders but they also want guaranteed living wages, clean energy, slave reparations, a right to shelter, a right to free health care, and net zero carbon. The goals are incompatible.
In the next 5 years employment in age groups 60+ will drop by ~12.5 million
On March 21, I commented In the next 5 years employment in age groups 60+ will drop by ~12.5 million
Due to age demographics, I expect employment in age groups 60 and over to decline by about 12.5 million. Let’s go over the math to see how I arrived at that number.
Government + Social Assistance Accounted for Nearly 60% of Job Growth in 2023
On January 5, I noted Government + Social Assistance Accounted for Nearly 60% of Job Growth in 2023
The welfare state is booming along with social assistance for illegal immigrants.
Family Formation
Taking a step back from immigration policy, why is it that family formation is so low? The unfortunate answer is Fed policy and fiscal policy is so inflationary, that young adults have come to expect they will be worse off than their parents.
If so, and that seems accurate, this will be the first time in US history.
Importantly, houses are too expensive. Zoomers and younger millennials are angry over housing costs. And millions of illegal immigrants need a home and services.
Rent is so expensive and anger so high over housing costs that People Who Rent Will Decide the 2024 Presidential Election
Finally, a recurring theme: The Fed’s Big Problem, There Are Two Economies But Only One Interest Rate
The Fed is largely responsible for the housing mess and Biden/Congress is responsible for the rest.
Yet Biden refuses to do anything lest he upset the Progressives who want open borders, guaranteed living wages, clean energy, a right to shelter, a right to free health care, and net zero carbon.
"The Colour of Love", the Art of Mercy by scandalous artist protected by Pope Francis
Cathcon: They could not have thought of a more ironic title if they tried.Find out just how much scandal is associated with Father RupnikAnd below the Global Jesuits are still celebrating his work. It is not an accident; they do know, as the comments are turned off.
Catholic Conclavehttp://www.blogger.com/profile/06227218883606585321noreply@blogger.com0
Blessed Feast of St. Mark!
“Saint Mark, writer of the Gospel and first bishop of Alexandria, was the missionary companion and amanuensis of Saint Peter, the first pope. The third-century theologian Saint Hippolytus (and repentant anti-Pope) claims that Mark was one of the seventy disciples sent forth by Christ, meeting up with Saint Paul (he is likely the ‘John Mark’ mentioned in Acts, cf., 15:37), before joining Saint Peter. Tradition also has him as the ‘young man’, described in his own Gospel, who ‘went away sorrowful’, after Christ’s invitation to ‘leave everything and come follow Him’. Later, the same ‘young man’ watched the tragic events in the Garden of Gethsemane, and ‘ran away naked’ when the authorities tried to arrest him also, but grabbed only his garment (signifying in a vivid way his forced detachment from material things – for some have poverty, like celibacy, thrust upon them).
“Saint Mark, after a few years writing down Peter’s sermons (which comprised the basis for his Gospel), in the year 43 went to Alexandria, thereby founding the Church in Africa, before, as one tradition has it, his martyrdom by the populace by being dragged through the streets, around the time of Saint Peter’s own witness (68 A.D.). He is also connected with Venice, where his relics were transferred, according to historical legend, in 828 to save them from desecration by the Saracens – a tale which makes for some intriguing reading. They now reside in the magnificent basilica dedicated to him.
“Saint Mark’s Gospel seems written in a hurry, like the young man who ran away, and as befits a treatise composed in the tense situation in the nascent Roman Church, where the Christians, who had yet even to be called Christians, faced the imminent threat of persecution and martyrdom under the demonic regime of Nero. The Greek adverb eutheos, ‘immediately’, ‘right away’, occurs forty-one times in this shortest of the Gospels. Mark’s symbol is, after all, a winged lion.
“But this term can also mean ‘fitting’, or ‘well-placed’. All in all, it seems, well, fitting for this Gospel composed with the help of the first Vicar of Christ, whose mission was to found the Church that would govern all the Churches: As comes across in the very first pages of Acts, the indecisive, wavering Peter had now become courageous, bold, sure, swift and to the point.”
The sarcophagus of Saint Mark –https://anastpaul.com/2021/01/31/the-translation-of-the-relics-of-saint-mark-the-evangelist-31-december/
April 25 - Why Does Russia Keep America's Secrets?
Please send links and comments to hmakow@gmail.com
Why doesn't Russia tell us what really happened on 9-11? Who murdered JFK and RFK? Who shot down MH 17 over Ukraine? What happened to MH 376 which disappeared in 2014? It's obvious that Russia is in collusion with the NeoCons attempting to start WW3. This is why Levrov et co. refer to the West as "Anglo Saxons" when everyone knows the West is run by satanist Jews just like Russia.
To compare, the Allies kept Hitler's secret: grandson of a Rothschild, homosexual prostitute in Vienna. Wars are all orchestrated to kill patriot dupes on both sides. This is why Russia didn't just remove Zelensky. They needed to kill 500,000 Ukrainian goyim and 100,000 Russians.
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Hundreds of bodies unearthed in Khan Younis hospital mass graves, many with skin and organs removed
As the search continued, rescuers estimated there to be at least 400 bodies. The Gaza government media office said some of bodies found had been decapitated and had their skin and organs removed. According to Al Jazeera, the bodies of children, elderly women and young men were among those found. Rescue teams said some bodies had their hands bound behind their backs, suggesting they were executed and buried on the spot.
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"Deadliest days" in the West Bank
The Israeli military carried out bloody carnage and destruction at the Nur Shams refugee camp and surrounding areas in Tulkarem in the northern occupied West Bank during a two-day raid this week.
During the 54-hour operation, at least 14 Palestinians were killed by Israeli forces, including three children. The Israeli military carried out the operation with domestic intelligence agency Shin Bet and Israel's Border Police. The invading forces damaged and destroyed homes, commercial stores, roads and other infrastructure, and left at least 25 Palestinians injured in the wake of the military raid.
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The best guarantee of peace would be an Iranian nuclear bomb. Why can Pakistan and India have these? Iran does not want peace or it would have a bomb.
UN nuclear chief: Iran 'weeks, not months' from enough uranium to make a bomb
Head of International Atomic Energy Agency stresses that is not the same time frame as would be needed to make a device, but says Iranian activity 'raises eyebrows'
"But that does not mean that Iran has or would have a nuclear weapon in that space of time," he added. "A functional nuclear warhead requires many other things independently from the production of the fissile material."
Iran's nuclear goals, he maintained, are "a matter of speculation," though he criticized the country for its enrichment activity that "raises eyebrows" and its opaque dealings with UN nuclear inspectors, who are not being given the level of access to facilities that he believes they need.
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Makow-- It's disingenuous to equate opposition to Gaza genocide with antisemitism
Oct 7 was a Hamas-IDF false flag to justify seizure of the beachfront property Jewish developers crave.
Israel's reply is vastly disproportionate to the provocation. Obviously, this is a genocide.
We ask how did Germans allow the Jewish halocaust. Israelis and the West are guilty of the same crime. Under the self-righteous pretense, Zionists who support genocide are demonic.
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Speaker Mike Johnson: "Antisemitism is a Virus" that is Spreading - Antisemitism Vaccines and Drugs to Follow?
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DOJ Pays Gymnasts $138 Million Settlement for FBI Misconduct in Larry Nassar Sex Assault Cases - The Last Refuge
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Iran threatens to wipe out Israel
Raisi arrived in Pakistan on Monday for a three-day visit. He addressed the recent tensions between Tehran and West Jerusalem at an event in Punjab on Tuesday.
"If the Zionist regime once again makes a mistake and attacks the sacred land of Iran, the situation will be different, and it is not clear whether anything will remain of this regime," the state news agency IRNA quoted Raisi as saying.
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George Soros "I see myself as a God."
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Antisemitism Is a Logical and Rational Reaction to Jewish Behaviour
Never in the history of mankind has a race of people gone so quickly from being exceptional victims to exceptional murderers determined to exterminate the Palestinians under the pretext of recreating their homeland, the biblical Israel, an entity that never existed in the first place.
Palestine was never the homeland of the Jews. Biblical accounts are not supported by historical or archaeological discoveries.[6] "It's a romantic fantasy,"[7] admits Jewish historian Norman F. Cantor in his book on Jewish history, The Sacred Chain. "The whole notion of Israel and its history is a literary fiction," says Professor Thomas Thompson in his book The Mythic Past: Biblical Archeology and the Myth of Israel.
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Andrew Anglin--These Student Protests Against Israel Are the Most Important Political Movement of Our Lifetime
"The New York Police Department arrested some 100 students last week after the university's president requested they respond. Police Chief John Chell later noted that the students who were arrested "were peaceful," per the Columbia Spectator. Now, faculty have staged a walkout protesting the arrest of student protesters.
The school moved classes online on Monday. The weight of that last sentence is not really being acknowledged in the mainstream media. They moved the classes online because they shut down the university, effectively declaring a state of emergency.
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Iran: Iranian citizens set fire to a huge street sign of Qassem Soleimani. The Iranian people are fed up with the Islamic regime in Tehran
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Dr. William Makis: When a Pregnant Woman Receives a C19 Vaccine, in Many Cases the Baby Stops Growing Within 24 Hours
"In pregnant women ... the babies are being hit with congenital heart and brain malformations, and nobody talks about it..."
"In pregnant women ... the babies are being hit with congenital heart and brain malformations, and nobody talks about it, but it's in the VAERS reporting system, ... He points out that the injections have been linked to deformities, miscarriages and stillbirths.
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Pfizer 'CHOSE NOT TO' Tell Regulators About SV40 Sequence in COVID Shots - Health Canada Official
A senior Health Canada official says pharma giant Pfizer made a conscious decision to not advise regulators that its mRNA COVID-19 vaccine contained a DNA sequence from the Simian Virus 40 (SV40).
"Pfizer has not cleaned up the vaccine, yet the regulators are sadly more concerned about vaccine uptake in the population rather than the health risks from these vaccines."
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Pastor Chuck Baldwin---House Speaker Michael Johnson: Just Another Neocon Traitor
Michael Johnson has quickly morphed into another two-bit warmonger and big-government, police-state shill like virtually every House Speaker before him--at least in modern memory.
Before taking the Speaker's chair, Johnson had a reputation of being a pro-peace, fiscal conservative who wanted to secure America's borders and stop the out-of-control deficit spending in Washington. That Michael Johnson is no more! The new Michael Johnson is a measly, cowardly, pathetic little weasel whose backbone is made from jelly.
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Who Funds the Century Initiative?
Immigration / By Riley Donovan
It is crucial to understand the constellation of interests benefiting from, and lobbying for, high levels of immigration to Canada.
An important immigration lobby is the Century Initiative, which advocates for Canada's population to be increased to 100 million by 2100. I have compiled a list of the banks, corporations, foundations and individuals who donated to the Century Initiative in 2022. All of this information is available in their 2022 Annual Report. For those hearing about this group for the first time, check out my own report for some background information.
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Russia seizes JP Morgan Bank's assets in Russia. Retaliatory seizure of funds.
Fauci To Testify In Public Hearing On COVID-19 Response, Origins
Fauci To Testify In Public Hearing On COVID-19 Response, Origins
Tyler Durden
Thu, 04/25/2024 - 15:05
Authored by Stephen Katte via The Epoch Times,
Dr. Anthony Fauci is locked in to testify before the Select Subcommittee on the Coronavirus Pandemic on June 3, his first public hearing since retiring as the president’s chief medical advisor in 2022.
Subcommittee Chair Brad Wenstrup (R-Ohio) announced in an April 24 press release that Dr. Fauci agreed to appear late last year.
“Retirement from public service does not excuse Dr. Fauci from accountability to the American people,” Mr. Wenstrup said.
“On June 3, Americans will have an opportunity to hear directly from Dr. Fauci about his role in overseeing our nation’s pandemic response, shaping pandemic-era policies, and promoting singular questionable narratives about the origins of COVID-19.”
Dr. Fauci testified in a closed door hearing in January.
According to Mr. Wenstrup, Dr. Fauci has already admitted “to serious systemic failures in our public health system,” which he says deserves “further investigation.”
Mr. Wenstrup says among other revelations, Dr. Fauci has said the six feet apart social distancing guidance, recommended by federal health officials and used to shut down small businesses across the country, “’sort of just appeared,” and was likely not based on scientific data.
During the two-day January hearing, Dr. Fauci revealed he signed off on every foreign and domestic NIAID grant without personally reviewing the proposals.
He also admitted that America’s vaccine mandates, which he promoted, could increase the public’s vaccine hesitancy in the future.
Lab Leak—Not So Far-Fetched
At the same time, Dr. Fauci said the lab leak hypothesis around COVID-19’s origins might not be a conspiracy theory, despite his previous very public assertions that it was.
The lab leak theory claims that SARS-CoV-2, the virus that causes COVID-19, was developed at the Wuhan Institute of Virology (WIV) and was accidentally leaked. In the years since COVID first appeared, this hypothesis has been gaining steam, with even the former head of the Chinese Center for Disease Control and Prevention (China CDC) saying it can’t be ruled out as an option.
Mr. Wenstrup claimed that during the previous hearing, Dr. Fauci said he “did not recall” specific COVID-19 information and conversations relevant to the Select Subcommittee’s investigations over 100 times.
A full transcript is expected to be released before the public hearing in June.
Mr. Wenstrup believes the testimony shared so far “raises significant concerns about public health officials and the validity of their policy recommendations during the COVID-19 pandemic.”
“We also learned that he believes the lab leak hypothesis he publicly downplayed should not be dismissed as a conspiracy theory,” he said.
“As the face of America’s public health response to the COVID-19 pandemic, these statements raise serious questions that warrant public scrutiny,” Mr. Wenstrup added.
Following Dr. Fauci’s hearing, the select subcommittee will also hold a public hearing with EcoHealth Alliance president Dr. Peter Daszak on May 1.
Mr. Wenstrup said it “will serve as a crucial component of our investigation into the origins of COVID-19 and provide essential background ahead of Dr. Fauci’s public hearing.”
“We look forward to both Dr. Fauci’s and Dr. Daszak’s forthcoming and honest testimonies, and appreciate their willingness to voluntarily appear before the Select Subcommittee for public hearings.”
US-Led Gaza Pier Project Comes Under Mortar Fire As UN Officials Tour Site
US-Led Gaza Pier Project Comes Under Mortar Fire As UN Officials Tour Site
Illustrative image of what the Gaza pier is expected to look like, via ABC News footage
The US military's ambitious project to erect a large pier off Gaza's coast (all within a war zone) to allow maritime shipments of humanitarian aid to Palestinians is off to a rocky start, after new reports that the construction site has come under fire.
UN officials were reportedly present at the location on Thursday when it came under attack by unknown gunmen, forcing the visiting delegation to take cover. Hamas has previously warned that it plans to resist any foreign military entity on Gaza's territory, which would include the US forces constructing the pier. The Israel Defense Forces (IDF) issued a statement blaming Palestinian terrorists for the attack (either Hamas or PIJ/Islamic Jihad), which included the launching of mortars.
Illustrative image of what the Gaza pier is expected to look like, via ABC News footage
"Members of a terror group in the Gaza Strip launched mortars at an under-construction pier for a US-led project to bring aid into the Palestinian enclave yesterday, the military says," as cited in Times of Israel. "The mortar attack occurred as United Nations officials were touring the site with Israeli troops on the coast of central Gaza, the IDF says in response to a query on the incident."
Officials said there were no casualties, but the IDF rushed the visiting UN officials to shelter. The UN subsequently also acknowledged the unprecedented attack on the site.
"The terrorist organizations continue to systematically harm humanitarian efforts while risking the lives of UN workers, while Israel allows the supply of aid to the residents of the Gaza Strip," the IDF added in its statement.
During his March State of the Union address, President Biden formally ordered the Pentagon to conduct an "emergency mission" to expand US humanitarian access to the Gaza Strip using a maritime route. He described that a port will be built by the US military, and will utilize a temporary pier to get supplies from ships to the people of Gaza.
"A temporary pier will enable a massive increase in the amount of humanitarian assistance getting into Gaza every day," President Biden said at the time, calling on Israel to "do its part" be letting more aid into the besieged territory while ensuring that "humanitarian workers aren't caught in the crossfire." That was two months ago.
However, it's looking like the US Army and naval engineers involved in the construction themselves could actually be the ones coming under fire.
Commenting on the latest progress and timeline of the Pentagon project, The Wall Street Journal wrote Thursday:
U.S. troops plan to start assembling a floating pier off the coast of northern Gaza as early as this weekend, American defense officials said, part of a Biden administration effort to open new paths for humanitarian aid ahead of a planned Israeli offensive in the city of Rafah.
Egyptian officials briefed on Israel’s plans for Rafah said Thursday that on-the-ground preparations for a military invasion of the city, where about 1 million Palestinians have sought shelter, could start in the coming days. The heads of the Israeli military and internal security service met with Egyptian officials in Cairo on Wednesday to coordinate efforts, including the evacuation of civilians from Rafah to so-called humanitarian zones in other parts of Gaza.
Earlier this month, USAID director Samantha Power said that famine already exists in some parts of the Gaza Strip. WSJ underscored this as well in its fresh reporting: "Some U.S. officials have said the pier, which will float several miles off Gaza’s shore, will help get more aid into northern Gaza, where some residents are already living in famine-like conditions, according to estimates released last month by the Integrated Food Security Phase Classification, an international initiative tasked with assessing the risk of famine around the world."
Critics of Biden's pier plan say it's already too-little-too-late and that the inspection process will still hold up maritime shipments regardless...
Biden's two-month project to build a pier for Gaza – while the population starves – is likely to make aid delivery worse, it is now revealed.
Not only is Israel insisting that it inspect (meaning delay) aid before it can be loaded on to ships in Cyprus. It's also now insisting… pic.twitter.com/8fUv27kh0d
US soldiers are expected to construct the pier and launch it from aboard US Navy vessels offshore. Vice Adm Kevin Donegan, the most senior US Navy commander in the Middle East has said the plan is "absolutely executable." The Pentagon has previously sought to emphasize that "The current plan doesn't include any US boots on the ground in Gaza." But Hamas is likely to disagree, and could mount continued attacks while Pentagon forces work to complete the major project.
Lawmaker Suggests Iran Is Ready For Nuclear Weapon Testing
Lawmaker Suggests Iran Is Ready For Nuclear Weapon Testing
A man walks past a banner depicting missiles along a street in Tehran on 19 April 2024 (AFP)
Tyler Durden
Thu, 04/25/2024 - 14:25
Iranian military commanders and high-ranking officials have warned they could change their approach in developing the country’s nuclear program after increasing tensions with Israel, implicitly announcing their readiness to take it into a military phase.
Before the recent direct military confrontation with Israel, Iran had always insisted that its nuclear program solely had peaceful goals. This stance dramatically changed in recent weeks. Javad Karimi Qudousi, a member of the Iranian parliament's National Security and Foreign Policy Commission, on Monday implicitly claimed that Iran was only one week away from its first nuclear weapon test. The lawmaker wrote on X: "If the order is issued, it will be one week before the first test."
A man walks past a banner depicting missiles along a street in Tehran on 19 April 2024 (AFP)
Karimi Qudousi did not mention Ayatollah Ali Khamenei, but such an order would come from supreme leader who has a final say in all matters in Iran.
On Tuesday, in two videos posted on X, he stressed that the targets of Iran’s potential military nuclear program would not only be Israel but also European countries supporting Tel Aviv.
Moreover, hours after the Israeli attack on an air force base in Isfahan last Friday, Ahmad Haqtalab, the commander of the Nuclear Centers Protection and Security Corps, suggested the same idea. "It is possible and conceivable to revise the nuclear doctrine and policies of the Islamic Republic of Iran and deviate from previous considerations," he was quoted as saying.
On Monday, the Javan daily, affiliated with the Islamic Revolutionary Guard Corps (IRGC), highlighted Haqtalab’s remarks, adding "Israel has taken this threat seriously and retreated from their [aggressive] stances."
Teacher given 11 years for teaching Kurdish language
A teacher in the Kurdish regions of Iran has been handed an 11-year prison sentence by the Islamic Revolutionary Court for his role in establishing a cultural centre where the Kurdish language was taught, local media reported.
Soma Pourmohammadi, a Kurdish language educator and a board member of the Nozhin cultural and social organisation in Sanandaj, received the lengthy sentence along with exile in two separate cases.
According to the verdict delivered on Saturday, he was convicted of "forming groups and factions with the intention of disrupting the security of the country" and given a 10-year prison term and exile to Kermanshah prison.
Prior to this ruling, another court had sentenced Pourmohammadi to one year suspended imprisonment for "disturbance of public order".
The Nozhin Social-Cultural Association, an independent cultural group, has been actively engaged in various cultural endeavors over recent years, including conducting free Kurdish language classes in different Kurdish cities.
Despite several languages such as Kurdish, Turkish, and Balouchi being spoken in different parts of Iran, Farsi remains the country's only official language.
https://t.co/hudKW8YQLk
UN nuclear chief: Iran is just weeks away to have enough enriched uranium to make a nuclear bomb
Private jet imports spark controversy
While government authorities have banned the import of many goods, such as expensive mobile phones, due to the economic crisis, the import of private jets has become the center of public attention.
Focus on the issue began when the head of the Civil Aviation Organisation, Mohammad Mohammadi Bakhsh, told the Ilna news agency: "The purchase and sale of seven-seater jet planes is open to the public. Many people are currently utilizing this option, including businessmen, officials, sports teams, and economic teams."
The announcement sparked a widespread backlash in local media, with both reformist and conservative outlets criticizing it.
On Monday, the pro-reformist daily Etemad published an article under the headline: "Goods for those who are better than us," questioning why the purchase and sale of private jets was permitted for a select class amid the country’s economic crisis.
"Why, in the current tight currency situation where many goods are categorized as 'luxury' and importation is prohibited, is the purchase and sale of private jets unrestricted for a privileged few? This perpetuates inequality in society," said the daily. The newspaper also demanded transparency, urging authorities to disclose the names of individuals who own private jets.
Rokna, another Farsi-language media outlet, characterized the publication of this news as emblematic of the profound social class divide. "While the purchase and sale of jet aircraft has been liberalized, the general public lacks the means to afford even a domestic car," Rokna highlighted.
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