Distinction Matter - Subscribed Feeds

  1. Site: non veni pacem
    Annas-Caiaphas vs Benedict-Bergoglio
    1 day 22 hours ago
    Author: Mark Docherty

    (Note this article was originally published two days before the death of Pope Benedict XVI)

    Annas-Caiaphas vs Benedict-Bergoglio

    December 29, 2022 – by Laramie Hirsch 

    I was very much taken with Ann Barnhardt’s recent discussion this Christmas about the parallels between the arrangement of the Jewish high priests at Christ’s execution, and that of Bergoglio and Pope Benedict XVI during this, their execution of authentic Catholicism. Her post is titled:

    For the You Gotta Be Kidding Me File: Why 2000 years ago there were TWO HIGH PRIESTS, one legitimate and one illegitimate and installed by… wait for it… the Roman Deep State

    Myself, I could not help but dig deeper and follow this rabbit hole for a while. And so, I’ve recorded the following:

    # # #

    The online Jewish Encyclopedia only further bolsters what you’ve said this past week in regards to Annas, who at Christ’s time, was the true and recognized high priest, while Caiaphas was a Roman installment:

    “Annas is the high priest who appears in the New Testament as holding this office along with Caiaphas, his son-in-law (Luke, iii. 2). In fact, one passage calls him plainly the high priest (Acts, iv. 6), while Caiaphas is merely a member of the hierarchic family. It is into Annas’ hands that Jesus is delivered for his first hearing, ere being sent to Caiaphas (John, xviii. 13), though in another passage (John, xi. 49, 51) Caiaphas is styled the high priest of that year. From these citations it is obvious that though Caiaphas was the properly appointed high priest, Annas, being his father-in-law and a former incumbent of the office, undoubtedly exercised a great deal of the power attached to the position. The use of the singular in the passage in Luke, in fact, is interpreted by Dr. Plummer as significant of this circumstance: ὲπὶ ἀρχιερέως ‘Αννα και καιάψα—”under the high priest Annas-Caiaphas,” which would mean “that between them they discharged the duties, or that each of them in different senses was regarded high priest, Annas de jure [Acts, iv. 6] and Caiaphas de facto” (John, xi. 49). Plummer’s further suggestion that Annas may have been encouraged, “so far as it was safe to do so, to ignore the Roman appointments and to continue in office during the high-priesthoods of his successors,” must be noted, particularly in view of the fact that government appointments to religious offices were always discountenanced by the Jews.

    https://jewishencyclopedia.com/articles/1554-annas

    Ann, I was reflecting on your post this week about the parallels between the situation of Annas and Caiaphas with that of Pope Benedict and Bergoglio.  Struck by the typological parallels, I dug into things a little further.  And, well, I found it VERY interesting how John 18:24 describes how Annas delivered our Lord, bound up, into the fatal claws of Caiaphas:

    “And Annas sent Jesus bound to Caiaphas, the high priest.”

    I think that in much the same way, the earthly Catholic Church was likely delivered, bound.  The authentic Church has been restricted, tied up, and restrained thanks largely to Vatican II and the cheerleading modernist popes that came afterwards.  Subdued, Catholicism was passed into the bitter, spiteful hands of our own “Caiaphas,” the Project-Gladio-deep-state-installed polytheist, Jorge Bergoglio.  And like the Caiaphas, Bergoglio seeks a public humiliation of Catholicism before its final execution.

    Furthermore, I found it very interesting that according to Talmud scholars, the “house of Annas” was regarded as wealthy and accursed, and he was considered one of a number of corrupted priests that characterized a whole generation of priests at that time.

    “The character of the High-Priests during the whole of that period is described in the Talmud in terrible language. And although there is no evidence that “the house of Annas“ was guilty of the same gross self-indulgence, violence, luxury, and even public indecency, as some of their successors, they are included in the woes pronounced on the corrupt leaders of the priesthood, whom the Sanctuary is represented as bidding depart from the sacred precincts, which their presence defiled. It deserves notice, that the special sin with which the house of Annas charged is that of “whispering“ —or hissing like vipers—which seems to refer to private influence on the judges in their administration of justice, whereby “morals were corrupted, judgment perverted and the Shekinah withdrawn from Israel.“

    The Life and Times of Jesus the Messiah, by Alfred Edersheim, pg. 667

    Certainly, it is true, that the current priesthood in Rome lives a hedonistic, opulent lifestyle.  And isn’t it fascinating how Pope Benedict, also, is located in the middle of a gaggle of effeminate, gossipy, “hissing” corrupt priests who can’t seem to exact any kind of justice or clean out any corner of their districts?

    The scholar Edersheim drives home the point that Annas, in all reality, was the likely true and recognized high-priest, while Caiaphas was a mere figurehead:

    “But although the expression “High-Priest“ appears sometimes to have been used in a general sense, as designating the sons of the High-Priests, and even the principal members of their families, there could, of course, but only one actual High-Priest. The conjunction of the two names of Annas and Caiaphas probably indicates that, although Annas was deprived of the Pontificate, he still continued to preside over the Sanhedrin – a conclusion not only borne out by Acts iv. 6,  where Annas appears as the actual President, and by the terms in which Caiaphas is spoken of, as merely ‘one of them,’ but by the part which Annas took in the final condemnation of Jesus.”

    Even the duration of Annas and Pope Benedict XVI’s tenure are somewhat similar, Annas having reigned for 9 years, and Benedict reigning for 8 years.

    This far down the rabbit hole, I only feel more confirmed about this parallel when I reflect on Emmerich’s remark of “I saw also the relationship between two popes,” Melanie of La Salette’s mention of the “two shaky, servile, doubtful popes,” or how Sr. Lucy at Fatima saw a doubled, mirror image of a pope figure in her vision, such that one was real, tangible, and legitimate, while the other was a fake, phantom copy.

    But these things all said, I would not go so far as to say that Pope Benedict is exactly like Annas.  The latter came from a wealthy family, but Ratzinger was born to a poorer family.  Annas was unscrupulous according to Jewish historians, but Pope Benedict was always careful and deliberate.  Annas was spiteful and cartoonishly hateful to our Lord, but Pope Benedict has not been like that at all.  I say: give credit where credit is due in that regard.

    Yet, certainly, the arrangement and political structure of these two popes is the same as that of the two high priests at Christ’s execution.  There is no doubt about it.  The Lord likes to have world move through time in a vaguely repeating spiral.  Once more, we see that history and world events are typological.  The great edifying lesson from these moments: it’s all planned, it all has an elegant structure, and the Lord Above it All can see it in its entirety from end to end.

    https://web.archive.org/web/20230109064105/https://forge-and-anvil.com/2022/12/29/annas-caiaphas-vs-benedict-bergoglio/
    https://nonvenipacem.org/2025/05/08/annas-caiaphas-vs-benedict-bergoglio/
  2. Site: Fr. Z's Blog
    ASK FATHER: What if the cardinals chose a man who is not in the conclave?
    1 day 22 hours ago
    Author: frz@wdtprs.com (Fr. John Zuhlsdorf)
    From a reader… QUAERITUR: What if the cardinals chose a man who is not in the conclave?   They can chose a baptized male, right?   It’s unlikely that they would go outside the Cardinals in the conclave, even for an older … Read More →
    https://wdtprs.com/2025/05/ask-father-what-if-the-cardinals-chose-a-man-who-is-not-in-the-conclave/
  3. Site: southern orders
    MY CLARIVOYANCE ABOUT OUR NEW POPE BEING ANNOUNCED ON MAY 8TH, 2025 IS GROWING STRONGER AND STRONGER!
    1 day 22 hours ago


    In the 1962 Roman Calendar, May 8th is the Feast of the Apparition of St. Michael the Archangel. Might the new pope today take the name Pope Michael? Has there been a Pope Michael?

    May 8th is also the Feast Day of Our Lady of the Rosary of Pompeii! Has a pope ever taken a female’s saint’s name, Pope Maria? 

    St. Pope John Paul II had a special devotion to Our Lady of the Rosary of Pompeii:

    Most notable of all is the "Supplication to the Queen of Victories" which, begun at Pompeii on October 1883, is recited all over the world on May 8, and on the first Sunday in October.".

    On October 21, 1979, John Paul II went on pilgrimage to Pompeii and gazed out from the very balcony from which Bartolo Longo (in an intuition of faith on May 5, 1901) had "seen gazing out" the white figure of the representative of Christ to bless the people calling for universal Peace."

    Here is part of the Supplication to Our Lady of Pompeii:

    Bless, O Mary, at this moment, our Holy Father. To the ancient splendors of your crown, to the triumphs of your Rosary, whence you are called the Queen of Victories, add this one also, O Mother: grant the triumph of religion and peace to human society.
    http://southernorderspage.blogspot.com/2025/05/my-clarivoyance-about-our-new-pope.html
  4. Site: Ron Paul Institute - Featured Articles
    Holes in the Constitution
    1 day 22 hours ago
    Author: Andrew P. Napolitano

    Among the lesser-known holes in the Constitution cut by the Patriot Act of 2001 was the destruction of the “wall” between federal law enforcement and federal spies. The wall was erected in the Foreign Intelligence Surveillance Act of 1978, which statutorily limited all federal domestic spying to that which was authorized by the Foreign Intelligence Surveillance Court.

    The wall was intended to prevent law enforcement from accessing and using data gathered by America’s domestic spying agencies.

    For 24 years, government spying has been rampant in the U.S., and the feds regularly engage in it as part of law enforcement’s well-known antipathy to the Fourth Amendment.

    Here is the backstory.

    After President Richard Nixon resigned the presidency, Congress investigated his abuse of the FBI and CIA as domestic spying agencies. Some of the spying was on political dissenters and some on political opponents. None of it was lawful.

    What is lawful domestic spying?

    The modern Supreme Court has made it clear that domestic spying is a “search” and the acquisition of data from a search is a “seizure” within the meaning of the Fourth Amendment. That amendment requires a warrant issued by a judge based on probable cause of crime presented under oath to the judge for a search or seizure to be lawful. The amendment also requires that all search warrants specifically describe the place to be searched and the person or thing to be seized.

    The language in the Fourth Amendment is the most precise in the Constitution because of the colonial experiences with British general warrants. A general warrant was issued to British agents by a secret court in London and did not require probable cause, only “governmental needs.” That, of course, was no standard whatsoever, as whatever the government wants it will claim that it needs.

    General warrants did not specify what was to be searched or seized. Rather, they authorized the bearers to search wherever they wished and to seize whatever they found — stated differently, to engage in fishing expeditions.

    When Congress learned of Nixon’s excesses, it enacted FISA, which required that all domestic spying be authorized by the new and secret FISA Court. Congress then lowered the probable cause of crime standard for the FISA Court to probable cause of being a foreign agent, and it permitted the FISA Court to issue general warrants.

    How can Congress, which is itself a creature of the Constitution, change standards established by the Constitution? It cannot legally or constitutionally do so. But it did so nevertheless.

    Yet, the FISA compromise that was engineered in order to attract congressional votes was the wall. The wall consisted of language reflecting that whatever data was acquired from surveillance conducted pursuant to a FISA warrant could not be shared with law enforcement.

    So, if a janitor in the Russian embassy was really an intelligence agent who was distributing illegal drugs as lures to get Americans to spy for him, and all this was learned via a FISA warrant that authorized listening to phone calls from the embassy, the telephonic evidence of the drug dealing could not be given to the FBI.

    The purpose of the wall was not to protect foreign agents from domestic criminal prosecutions; it was to prevent American law enforcement from violating personal privacy by spying on Americans without search warrants.

    Fast forward to the weeks after 9/11 when, with no serious debate, Congress enacted the Patriot Act. In addition to permitting one federal agent to authorize another to search private records — contrary to the Fourth Amendment — it also removed the wall between law enforcement and spying.

    Of course, the language in the statute sounds benign and requires that the purpose of the spying must be national security and the discovered criminal evidence — if any — must be accidental or inadvertent. In the last year of the Biden administration, the FBI admitted that during the first Trump administration it intentionally used the CIA and the NSA to spy on Americans about whom the FBI was interested, but as to whom it had neither probable cause of crime nor even articulable suspicion of criminal behavior.

    Articulable suspicion — the rational ability to point a finger at a criminal actor; a lower standard than probable cause — is the linchpin for the commencement of all criminal investigations. Without it, we are back to fishing expeditions.

    The FBI admission that it uses the CIA and the NSA to spy for it came in the form of a 906-page FBI rulebook written during the first Trump administration, disseminated to federal agents in 2021, and made known to Congress in 2024.

    Needless to say, the CIA and the NSA were not pleased. The CIA charter prohibits its employees from engaging in domestic surveillance and law enforcement. Yet, we know the CIA is present physically or virtually in all of the 50 U.S. statehouses.

    The NSA is required to go to the FISA Court when it wants to spy. We know that this, too, is a charade, as the NSA regularly captures every keystroke engaged on every mobile device and desktop computer in the U.S., 24/7, without warrants.

    What is startling is that the Trump FBI actually reduced to writing its contempt for the Constitution that its employees have sworn to uphold, and the Biden FBI acted as if nothing was wrong, and under the second Trump administration, nothing has changed.

    The FBI works for the Department of Justice. The CIA and the NSA work directly for the president. With a phone call, President Donald Trump — who was personally victimized by this domestic spying 10 years ago — can stop all domestic spying without search warrants. He can re-erect the wall between spying and law enforcement. He can forbid executive branch personnel from engaging with the FISA Court.

    Trump can close the holes in the Constitution if he didn’t fear the wrath of an intelligence community still out of control.

    To learn more about Judge Andrew Napolitano, visit https://JudgeNap.com.
    COPYRIGHT 2025 ANDREW P. NAPOLITANO
    DISTRIBUTED BY CREATORS.COM
    https://ronpaulinstitute.org/holes-in-the-constitution-2/
  5. Site: Ron Paul Institute for Peace And Prosperity
    Holes in the Constitution
    1 day 22 hours ago
    Author: Andrew P. Napolitano

    Among the lesser-known holes in the Constitution cut by the Patriot Act of 2001 was the destruction of the “wall” between federal law enforcement and federal spies. The wall was erected in the Foreign Intelligence Surveillance Act of 1978, which statutorily limited all federal domestic spying to that which was authorized by the Foreign Intelligence Surveillance Court.

    The wall was intended to prevent law enforcement from accessing and using data gathered by America’s domestic spying agencies.

    For 24 years, government spying has been rampant in the U.S., and the feds regularly engage in it as part of law enforcement’s well-known antipathy to the Fourth Amendment.

    Here is the backstory.

    After President Richard Nixon resigned the presidency, Congress investigated his abuse of the FBI and CIA as domestic spying agencies. Some of the spying was on political dissenters and some on political opponents. None of it was lawful.

    What is lawful domestic spying?

    The modern Supreme Court has made it clear that domestic spying is a “search” and the acquisition of data from a search is a “seizure” within the meaning of the Fourth Amendment. That amendment requires a warrant issued by a judge based on probable cause of crime presented under oath to the judge for a search or seizure to be lawful. The amendment also requires that all search warrants specifically describe the place to be searched and the person or thing to be seized.

    The language in the Fourth Amendment is the most precise in the Constitution because of the colonial experiences with British general warrants. A general warrant was issued to British agents by a secret court in London and did not require probable cause, only “governmental needs.” That, of course, was no standard whatsoever, as whatever the government wants it will claim that it needs.

    General warrants did not specify what was to be searched or seized. Rather, they authorized the bearers to search wherever they wished and to seize whatever they found — stated differently, to engage in fishing expeditions.

    When Congress learned of Nixon’s excesses, it enacted FISA, which required that all domestic spying be authorized by the new and secret FISA Court. Congress then lowered the probable cause of crime standard for the FISA Court to probable cause of being a foreign agent, and it permitted the FISA Court to issue general warrants.

    How can Congress, which is itself a creature of the Constitution, change standards established by the Constitution? It cannot legally or constitutionally do so. But it did so nevertheless.

    Yet, the FISA compromise that was engineered in order to attract congressional votes was the wall. The wall consisted of language reflecting that whatever data was acquired from surveillance conducted pursuant to a FISA warrant could not be shared with law enforcement.

    So, if a janitor in the Russian embassy was really an intelligence agent who was distributing illegal drugs as lures to get Americans to spy for him, and all this was learned via a FISA warrant that authorized listening to phone calls from the embassy, the telephonic evidence of the drug dealing could not be given to the FBI.

    The purpose of the wall was not to protect foreign agents from domestic criminal prosecutions; it was to prevent American law enforcement from violating personal privacy by spying on Americans without search warrants.

    Fast forward to the weeks after 9/11 when, with no serious debate, Congress enacted the Patriot Act. In addition to permitting one federal agent to authorize another to search private records — contrary to the Fourth Amendment — it also removed the wall between law enforcement and spying.

    Of course, the language in the statute sounds benign and requires that the purpose of the spying must be national security and the discovered criminal evidence — if any — must be accidental or inadvertent. In the last year of the Biden administration, the FBI admitted that during the first Trump administration it intentionally used the CIA and the NSA to spy on Americans about whom the FBI was interested, but as to whom it had neither probable cause of crime nor even articulable suspicion of criminal behavior.

    Articulable suspicion — the rational ability to point a finger at a criminal actor; a lower standard than probable cause — is the linchpin for the commencement of all criminal investigations. Without it, we are back to fishing expeditions.

    The FBI admission that it uses the CIA and the NSA to spy for it came in the form of a 906-page FBI rulebook written during the first Trump administration, disseminated to federal agents in 2021, and made known to Congress in 2024.

    Needless to say, the CIA and the NSA were not pleased. The CIA charter prohibits its employees from engaging in domestic surveillance and law enforcement. Yet, we know the CIA is present physically or virtually in all of the 50 U.S. statehouses.

    The NSA is required to go to the FISA Court when it wants to spy. We know that this, too, is a charade, as the NSA regularly captures every keystroke engaged on every mobile device and desktop computer in the U.S., 24/7, without warrants.

    What is startling is that the Trump FBI actually reduced to writing its contempt for the Constitution that its employees have sworn to uphold, and the Biden FBI acted as if nothing was wrong, and under the second Trump administration, nothing has changed.

    The FBI works for the Department of Justice. The CIA and the NSA work directly for the president. With a phone call, President Donald Trump — who was personally victimized by this domestic spying 10 years ago — can stop all domestic spying without search warrants. He can re-erect the wall between spying and law enforcement. He can forbid executive branch personnel from engaging with the FISA Court.

    Trump can close the holes in the Constitution if he didn’t fear the wrath of an intelligence community still out of control.

    To learn more about Judge Andrew Napolitano, visit https://JudgeNap.com.
    COPYRIGHT 2025 ANDREW P. NAPOLITANO
    DISTRIBUTED BY CREATORS.COM
    https://ronpaulinstitute.org/holes-in-the-constitution-2/
  6. Site: southern orders
    MY CLAIRVOYANCE TELLS ME THAT WE WILL HAVE A NEW POPE TODAY, THURSDAY MAY 8TH!
    1 day 22 hours ago


    There is only one scenario where We will know who the new pope is even before any announcements!

    Dominique Cardinal Mamberti is the cardinal who will announce “Habemus Papam” prior to giving us the new pope’s given name and chosen papal name. If Cardinal Mamberti doesn’t come out and some other cardinal does, we will know before any announcements that he’s the new pope!
    http://southernorderspage.blogspot.com/2025/05/my-clairvoyance-tells-me-that-we-will.html
  7. Site: LifeNews
    Planned Parenthood Caught Giving Trans Hormones to Minors
    1 day 23 hours ago
    Author: Elise DeGeeter

    A new undercover investigation by Live Action has revealed that Planned Parenthood facilities in multiple states are willing to prescribe cross-sex hormones to minors – often without therapy, in-person evaluation, or parental consent.

    The investigation, released Wednesday, features a Live Action investigator posing as a 16-year-old girl seeking testosterone to begin a so-called “gender transition.”

    Staff at clinics in New York, Minnesota, and other states assured the minor that she could access the powerful hormone drugs with minimal oversight.

    Click here to sign up for pro-life news alerts from LifeNews.com

    At one New York facility, an employee told the caller that a parent did not need to be present during the entire appointment.

    “At some point in the appointment, maybe, she doesn’t have to be in the examining room with you,” the staffer said, referring to the caller’s mother.

    Other clinics confirmed that no therapy or psychological screening was required.

    “You’re good to be seen here then. 16 and older,” a Minnesota employee said. “Nope,” she added when asked if therapy records were needed.

     In several cases, facilities said prescriptions could be issued the day after a brief virtual consultation.

    “The provider is gonna to send the prescription to your pharmacy the same day of your appointment,” said a New York staffer.

    These revelations come amid continuous concern over Planned Parenthood’s promotion of hormone drugs to minors.

    A 2025 Department of Health and Human Services (HHS) report identified Planned Parenthood as a “leading provider” of cross-sex hormones to adolescents. It warned that many recipients “have co-occurring psychiatric or neurodevelopmental conditions, rendering them especially vulnerable.”

    “These dangerous drugs can sterilize, stunt growth, and leave lifelong scars,” said Live Action President Lila Rose. “This is not healthcare. It is child abuse, and it must be stopped.”

    Despite the controversy, Planned Parenthood receives nearly $700 million annually in federal funding, a figure that rose under the Biden administration.

    The Trump administration has taken steps to restrict this funding.

    Last month, it froze $27.5 million in Title X grants to organizations under investigation for violating federal diversity, equity, and inclusion (DEI) mandates. Several Planned Parenthood affiliates were among the impacted groups.

    “Planned Parenthood is fast-tracking vulnerable children into irreversible hormone treatments with almost no medical oversight,” Rose told Fox News Digital. “It’s time for Congress and the president to act and defund this abusive corporation.”

    According to Fox News Digital, Republican lawmakers are considering a full termination of Planned Parenthood’s federal funding as part of a broader $1.5 trillion cost-cutting package.

    Meanwhile, Live Action has launched a petition urging Americans to demand an end to taxpayer funding of Planned Parenthood.

    “Our reporting proves three devastating facts,” said a Live Action spokesperson. “Planned Parenthood is giving trans drugs to minors (16-year-olds). No therapy or mental health evaluation is required. Minors can access the drugs the same day as their first (virtual) appointment.”

    “When Americans learn Planned Parenthood is transing kids,” the group added, “their support for the organization collapses. This must be a turning point — we’re calling for the full defunding of Planned Parenthood.”

    LifeNews Note: Elise DeGeeter writes for CatholicVote, where this column originally appeared.

    The post Planned Parenthood Caught Giving Trans Hormones to Minors appeared first on LifeNews.com.
    https://www.lifenews.com/2025/05/08/planned-parenthood-caught-giving-trans-hormones-to-minors/
  8. Site: AsiaNews.it
    Chiang Mai: Rohingya teens missing from government-run shelter
    1 day 23 hours ago
    The fate of six teenagers from Rakhine State in Myanmar is unknown since 21 March. They were detained last December after traffickers brought them to Thailand. This case highlights Bangkok's failure to protect underage asylum seekers. For Fortify Rights, 'every refugee child' should be 'protected – not punished – for seeking safety.'
    https://www.asianews.it/news-en/Chiang-Mai%3A-Rohingya-teens-missing-from-government-run-shelter-63045.html
  9. Site: Zero Hedge
    Initial Jobless Claims Refuse To Weaken In Face Of CEO Dissonance
    1 day 23 hours ago
    Author: Tyler Durden
    Initial Jobless Claims Refuse To Weaken In Face Of CEO Dissonance

    So, are CEOs all talk?

    After a brief spike last week, initial jobless claims are back in their four year range at 228k - at the same level as in Q4 2021...

    Last week's spike - largely driven by New York - has now been erased - largely driven by New York...

    Continuing claims fell back below the 1.9 million American Maginot Line once again...

    Continuing jobless claims across The Deep TriState are back up near post-DOGE highs...

    But initial claims across the three states have stopped rising as various lawsuits halt layoffs across federal agencies.

    Tyler Durden Thu, 05/08/2025 - 08:41
    https://www.zerohedge.com/personal-finance/initial-jobless-claims-refuse-weaken-face-ceo-dissonance
  10. Site: Fr. Z's Blog
    A Sonnet “The Election of the Pope” in Roman dialect by G.G. Belli
    1 day 23 hours ago
    Author: frz@wdtprs.com (Fr. John Zuhlsdorf)
    We are privileged again to have another sonnet from the 19th c. poet Giuseppe Gioachino Belli… Er Belli. He wrote seriously funny sonnets in the Roman dialect about life in Rome and aimed deadly satire at Rome’s clerics, religious, prelates and … Read More →
    https://wdtprs.com/2025/05/a-sonnet-the-election-of-the-pope-in-roman-dialect-by-g-g-belli/
  11. Site: Zero Hedge
    In 'Divided' Decision, BoE Cuts Rates, Plays Down Tariff Fears; Trump Trounces "FOOL" Powell For No Fed Cut
    1 day 23 hours ago
    Author: credittrader
    In 'Divided' Decision, BoE Cuts Rates, Plays Down Tariff Fears; Trump Trounces "FOOL" Powell For No Fed Cut

    Ahead of an expected trade deal between US and UK, the Bank of England cut rates by 25bps to 4.25% (as expected) this morning.

    However, the divided decision surprised markets by showing a more cautious-than-expected approach toward easing monetary policy.

    Five members of the BOE’s Monetary Policy Committee voted for a quarter-point cut, while two wanted a larger half-point reduction. 

    Another two voted to hold rates steady. 

    The committee held its guidance that easing should continue to be “gradual and careful” in light of volatility in the global economy caused by Trump’s sweeping tariffs.

    “Inflationary pressures have continued to ease so we’ve been able to cut rates again today,” Governor Andrew Bailey said in a statement accompanying the decision.

    “The past few weeks have shown how unpredictable the global economy can be. That’s why we need to stick to a gradual and careful approach.”

    Today’s guidance may have disappointed market expectations partly because investors had overstated the role tariffs would play in the bank’s decision-making, economists at ING suspect.

    They wrote:

    “While the added uncertainty and weaker outlook for global growth will become a headwind, the reality is that the direct impact of US tariffs so far looks very limited -- particularly if Britain is granted sizable carveouts from US President Donald Trump’s sectoral tariffs later today.”

    The pound is stronger following the BoE, but has been choppy since the initial FT headlines and later confirmation that a trade deal is imminent:

    Gilt yields remain up across the curve, with the increases skewed towards the short end given its sensitivity to monetary policy.

    The Fed's lack of rate-cut (following China's cut and now BoE's cut), prompted a further outburst from President Trump

    “Too Late” Jerome Powell is a FOOL, who doesn’t have a clue. Other than that, I like him very much! Oil and Energy way down, almost all costs (groceries and “eggs”) down, virtually NO INFLATION, Tariff Money Pouring Into the U.S. — THE EXACT OPPOSITE OF “TOO LATE!” ENJOY!

    Notably, amid the panic in the US over tariffs and (hyped) inflation, BoE policymakers had worried that tariffs could push prices higher but are now more confident that those risks will be avoided. 

    The BOE now estimates tariffs will lower U.K. inflation by 0.2 percentage points in two years.

    Finally, traders are still pricing in another two rate cuts from the BoE this year.

    If that comes to pass, that would result in 100 basis points of easing in 2025 - pretty much bang in line with the guidance from Governor Bailey late last year.

    credittrader Thu, 05/08/2025 - 08:32
    https://www.zerohedge.com/markets/divided-decision-boe-cuts-rates-plays-down-tariff-fears-trump-trounces-fool-powell-no-fed
  12. Site: Saint Louis Catholic
    An Auspicious Sign: Feast of the Apparition of St. Michael the Archangel
    1 day 23 hours ago
    Author: thetimman

    In the ancient calendar, today is the feast of the apparition of the great warrior angel of God and conqueror of satan and his demons. And as a bonus it falls in the Octave of the Feast of St. Joseph, Patron and Protector of the Holy Church. May these great saints intercede for the Church as the conclave continues. Please God, grant us a true, good, and holy pope beyond our deserving!

    From The Liturgical Year:

    Another apparition, which encouraged devotion to St. Michael in Italy, took place on Mount Gargano, in Apulia; it is the one honored by today’s feast. A third happened on Mount Tomba, on the coast of Normandy: we will commemorate it on the 16th October.
    The feast we are keeping today is not so solemn as the one of September 29th; it is, however, more exclusively in honor of St. Michael, inasmuch as the Autumn Feast includes all the choirs of the Angelic hierarchy. The Roman Breviary gives us the following account of the apparition on Mount Gargano.


    That the blessed Archangel Michael has often appeared to men is attested both by the authority of sacred Scripture, and by the ancient tradition of the Saints. Hence, the memory of these apparitions is commemorated in divers places. As, heretofore, Michael was honored by the Synagogue of the Jews as Guardian and Patron, so is he now by the Church of God. A celebrated apparition of the Archangel took place, under the pontificate of Gelasius I, in Apulia, on the top of Mount Gargano, at whose foot lies the town of Siponto.


    A bull, belonging to a man who lived on the mountain, having strayed from the herd, was, after much searching, found hemmed fast in the mouth of a cave. One of its pursuers shot an arrow, with a view to rouse the animal by a wound; but the arrow rebounding, struck him that had sent it. The circumstance excited so much fear in the by-standers and in them that heard of it, that no one dared to go near the cave. The inhabitants of Siponto, therefore, consulted the Bishop; who answered, that in order to know God’s will, they must spend three days in fasting and prayer.


    At the end of the three days, the Archangel Michael intimated to the Bishop, that the place was under his protection, and that what had occurred was an indication of his will that God should be worshipped there, in honor of himself and the Angels. Whereupon, the Bishop repaired to the cave, together with his people. They found it like a Church in shape, and began to use it for the celebration of the divine service. Many miracles were afterwards wrought there. Not long after, Pope Boniface dedicated a Church in honor of St. Michael, in the great Circus of Rome, on the third of the Kalends of October (September 29th), the day on which the Church celebrates the memory of all the Angels. But today’s feast is kept in commemoration of the apparition of Michael the Archangel.

    Guardian Angel of Holy Church! now is the time for thee to exert all the might of thine arm. Satan is furious in his efforts against the noble Spouse of thy Master; brandish thy bright sword, and give battle to this implacable enemy. The Kingdom of Christ is shaken to its very foundations. Rome is in danger of seeing the Vicar of Christ dethroned within her walls. Is it that the reign of the Man of Sin is about to be proclaimed on the earth? Are we near that Last Day, when this guilty world having been destroyed by fire, thou art to exercise, in the name of the Sovereign Judge, the terrible office of separating the goats from the sheep?—

    If this earth is still to exist; if the mission of the Church is not yet completed; is it not time for thee, O Michael! to show the Dragon of hell that he may not, with impunity, insult on this earth the God who created it, who redeemed it, and whose name is King of kings, and Lord of lord? The torrent of error and crime is unceasingly dragging the world to the brink of the precipice; save it, O glorious Archangel, by confounding the dark plots which are laid for its destruction!
    https://stlouiscatholic.wordpress.com/2025/05/08/an-auspicious-sign-feast-of-the-apparition-of-st-michael-the-archangel/
  13. Site: Zero Hedge
    Futures, Global Markets Jump On Trump Trade Deal With UK
    1 day 23 hours ago
    Author: Tyler Durden
    Futures, Global Markets Jump On Trump Trade Deal With UK

    US equity futures storm higher, and are back to their post-Liberation Day highs on positive trade news (Imminent "comprehensive" trade agreement with UK the first of his promised deals; removal of chip export restrictions) and a neutral Fed (economy has strength to wait to see trade war impact hit hard data) even as China again reiterated that the US should cancel unilateral tariffs ahead the first official meeting between the countries this weekend amid reports the US is considering exempting child-related goods from its 145% tariffs on China. As of 8:00am ET, S&P futures rose 0.9% while Nasdaq futures are 1.2% higher, both near session highs. Elsewhere FTSE +40bps, DAX +1.2%, CAC +1%, Shanghai +28bps, Hang Seng +37bps, Nikkei +41bps. Intel rose more than 3% in premarket trading, while peers such as Nvidia and Micron also gained on news Trump will rescind restrictions regulating the export of semiconductors to various countries. Outside of tariffs, Norway and Sweden central banks left rates unch (expected) while we get the BoE this morning (25bps cut expected). US Bond yields are 4-5bp higher across the curve and USD is poised to have its best day 6 sessions with DXY +50bp. Today’s macro data focus is on jobless claims, NY Fed 1-year inflation expectations, and labor costs.

    In premarket trading, Mag 7 stocks climb as the Trump administration plans to rescind some Biden-era AI chip curbs as part of a broader effort to revise global semiconductor trade restrictions (Nvidia +1.6%, Alphabet +1.9%, Meta +2%, Tesla +1.3%, Apple +1%, Amazon +1.6%, Microsoft +0.9%). Cryptocurrency-exposed stocks rise as Bitcoin approaches the $100,000 mark for the first time since February as global trade tensions show signs of easing. AppLovin climbs 14% after the AI-powered advertisement platform reported first-quarter results that beat expectations. Arm Holdings tumbled 9% after giving a disappointing sales forecast for the current quarter, stoking concerns about a tariff-fueled slowdown for the chip industry. Here are some other notable premarket movers:

    • Carvana (CVNA) rises 4% after the online used-car retailer doubled its profits in the first quarter with record vehicle volume.
    • Coherent (COHR) gains 6% after the semiconductor device company reported third-quarter results that beat expectations
    • Dave Inc. (DAVE) rises 28% after the digital banking services company boosted its revenue and adjusted Ebitda forecast for the full year, surpassing expectations.
    • Eli Lilly (LLY) drops 1.5% and AbbVie (ABBV) dips 1.7% following a Politico report that President Donald Trump plans to revive an effort to dramatically slash drug costs by tying the amount the government pays for some medicines to lower prices abroad.
    • Fortinet (FTNT) tumbles 8% after the security software company reported its first-quarter results and gave an outlook
    • Fluence Energy Inc. (FLNC) falls 15% after the provider of energy storage systems cut its total revenue guidance range for the full year, a reduction of $700m at the midpoint.
    • Fortinet (FTNT) tumbles 14% after the security software company reported its first-quarter results that Jefferies says missed “elevated investor expectations.”
    • Krispy Kreme Inc. (DNUT) falls 19% after saying the company will no longer pay quarterly cash dividends in order to pay down its debt and focus on growth.
    • Magnite Inc. (MGNI) rises 11% after the advertising technology company reported first-quarter results that beat expectations on profitability metrics. It also said it was taking a cautious approach in its outlook given tariff-related uncertainty, a move analysts support.
    • MercadoLibre (MELI) climbs 8% after the e-commerce and fintech giant beat analysts’ expectations in the first quarter of the year, delivering strong growth in its credit portfolio.
    • Peloton Interactive Inc. (PTON) falls 4% after reporting that revenue sank 13% last quarter, marking the third straight year-on-year decline in sales.
    • Shopify Inc. (SHOP) slips 8% after projected sales in the current quarter that just met expectations, suggesting steep tariffs on goods from China present a challenge.
    • Tapestry Inc. (TPR) gains 9% after the handbag maker raised its annual outlook, shrugging off broader concerns about worsening consumer sentiment and the trade war.
    • Tutor Perini Corp. (TPC) climbs 15% after the construction company boosted its year profit outlook. First quarter revenue increased 19% from the year-ago period and beat estimates.

    Global markets were lifted after Trump administration’s plan to rescind some Biden-era curbs on chipmakers and news of a trade agreement with Britain, which followed news that US and Chinese officials will meet this weekend to discuss trade. Investors are waiting to see if crippling levies mooted by Trump will be negotiated down, averting lasting damage to economic growth and corporate profits. 

    "The fear has been of higher prices, company profit margins being squeezed, and the economy going into recession as a result of higher tariffs,"  said Kenneth Broux, a strategist at Societe Generale. “If you start unwinding all of that, it’s got to be bullish for risk assets.” 

    In the UK, gilt yields rose about five basis points, reversing an earlier slide, after the BOE reduced interest rates to 4.25% in a decision made before the US trade deal was announced. However, the BOE upgraded its annual growth forecast for 2025 while two officials voted not to cut rates this time due to inflation risks and a recent easing in financial conditions. 

    For Neil Birrell, chief investment officer at Premier Miton Investors, the split BOE vote “goes to show the scale of the uncertainty that exists amongst a key group, namely the actual setters of policy. It’s going to be difficult to make a call on future policy on the back of that.”

    Meanwhile, while there was little international fallout from the conflict between India and Pakistan, investors were monitoring signs of escalation. Pakistan’s main equity index shed as much as 8.8%, while India’s Nifty 50 Index lost as much as 01.1%. The Indian rupee slid over 1% against the dollar.

    The trade headlines also lifted Europe’s Stoxx 600 index by about 0.9%, as tech, industrials and travel are the best-performing European sectors. Chip stocks including ASML were among the top gainers. Siemens Energy rose after it said the impact of tariffs was going to be limited, while Danish container giant Maersk declines after cutting its forecast amid trade war. Britain’s domestically focused FTSE 250 index rose to a two-month high. Here are the biggest winners:

    • Siemens Energy shares gain as much as 4.1%, touching a record high, shrugging off US tariff chaos and saying the effect of import duties on its bottom line will be small.
    • Adecco shares gain as much as 4.3% after the Swiss staffing company posts a top line beat in a mixed set of first-quarter results.
    • Puma shares jump as much as 6%, hitting their highest level in almost two months, after the sportswear retailer delivered a small sales beat and reiterated its guidance for the year.
    • Rheinmetall shares rise as much as 2% to a new record after the German firm’s weapon and ammunition sales for the first quarter beat the average analyst estimate.
    • Novonesis shares rise as much as 4.3% after the Danish biotechnology firm reported strong results for the first quarter, including a small beat on organic sales growth.
    • J. Martins shares advance as much as 6.3% after retailer maintained Ebitda margin for 1Q even as an unfavorable calendar with a late Easter slowed same-store sales in Poland.
    • Argenx shares drop as much as 9.5% after the biotech firm reported Vyvgart sales for the first quarter that were slightly weaker than JPMorgan analysts had been expecting.
    • Maersk shares fall 2.2% after the Danish container giant’s earnings beat was overshadowed by it cutting its forecast for the global transport market rattled by trade war.
    • Zurich Insurance shares slip as much as 1.4% as Switzerland’s largest insurer cautioned that prices are moderating in Europe, the Middle East and Africa and North America even as it reported solid results for the first quarter.
    • Amadeus shares fall as much as 3.6% after the travel IT services provider reported sales and Ebitda that missed estimates.
    • Centrica shares drop as much as 8%, the most since last July, after analysts warned the British Gas-owner’s AGM update suggests there is downside risks to consensus numbers for this year.
    • Zealand Pharma shares fall as much as 5.9% after the Danish drug developer released results for the first quarter which Van Lanschot Kempen analysts said were “uneventful.”

    Earlier in the session, stocks in Asia declined, on course to end a four-day run of gains, as earnings caution in Japan outweighed optimism over signs of easing trade tensions.  The MSCI Asia Pacific Index fell 0.6%, reversing an earlier 0.3% gain. Japanese firms Nintendo Co. and Toyota Motor Corp. were among the biggest drags, with the carmaker expecting a $1.3 billion profit hit in just two months on tariffs. Nintendo projected weaker-than-expected initial sales of the Switch 2. Trading was halted in Pakistan after its benchmark KSE-30 Index slumped on intensifying military conflict with India. Indian stocks were slightly lower. Markets were in the green in Hong Kong, China and South Korea as signs of progress in trade negotiations supported sentiment. The confirmation of US-China trade talks starting this weekend, and Thursday’s report that the US is about to announce a deal with the United Kingdom, boosted optimism that the global tariff war has entered a de-escalation stage. Foreign investor flows into Asian stocks excluding China and Japan reached $3 billion so far this week, according to Bloomberg-compiled data.  

    In FX, the dollar was 0.2% higher against a basket of peers, benefiting also from the Federal Reserve’s signal that it’s in no hurry to ease monetary policy. The Fed held interest rates steady as expected on Wednesday, and warned that higher tariffs could raise inflation and unemployment. The pound climbed after the Bank of England cut interest rates as expected, but stuck to signaling “gradual and careful” moves in the coming months. 

    In rates, treasuries are cheaper across the curve as US stock futures rally; rate-sensitive two-year Treasury yields rose about five basis points as traders trimmed the odds of a July cut to around 80%. US yields are 3bp-4bp higher across maturities with intermediate tenors leading losses, flattening 5s30s spread by 1.5bp and unwinding a portion of Wednesday’s steepening move. 10-year at 4.30%, just off day’s high. Supply also a factor, with an auction of 30-year bonds ahead at 1pm New York time. Gilt futures fell to session lows after Bank of England cut rates to 4.25% as expected in a three-way split. UK front-end yields cheaper by about 5bp, flattening the gilt curve after the BOE rate decision. The week’s Treasury auction cycle concludes with $25 billion 30-year new issue, following strong demand for 10-year notes Tuesday. WI 30-year yield near ~4.795% is about 2bp richer than last month’s, which stopped through by 2.6bp. Investors will now monitor weekly jobless data, which is expected to show claims slipped marginally in the latest week to 230,000. 

    In commodities, oil climbs 1.4% higher to near $58.86. Bitcoin rose toward the $100,000 mark for the first time since February. Spot gold falls about $10 to near $3,350/oz. 

    Looking ahead, the US economic calendar includes 1Q nonfarm productivity and weekly jobless claims (8:30am), March wholesale inventories (10am) and April New York Fed 1-year inflation expectations (11am)

    Market Snapshot

    • S&P 500 mini +1%
    • Nasdaq 100 mini +1.4%
    • Russell 2000 mini +1.3%
    • Stoxx Europe 600 +0.5%
    • DAX +1.2%
    • CAC 40 +0.8%
    • 10-year Treasury yield +4 basis points at 4.31%
    • VIX -1 points at 22.52
    • Bloomberg Dollar Index +0.3% at 1225.78
    • euro little changed at $1.129
    • WTI crude +1% at $58.67/barrel

    Top Overnight News

    • President Trump is expected to announce a framework of a trade deal with the U.K. on Thursday, the first in what the White House hopes is a series of trade agreements since it imposed tariffs against allies and adversaries. Trump said there would be a press conference in the Oval Office at 10 a.m. WSJ
    • Pakistan said it shot down 12 drones from India that had killed one civilian and injured four soldiers. India’s rupee weakened 1%. BBG
    • Ukraine has discussed ways to pressure Russia into agreeing to a 30-day ceasefire with U.S., French, British and German senior officials, President Volodymyr Zelenskiy's top aide said on Thursday, part of a flurry of diplomacy to try to end the war. RTRS
    • US President Trump's big announcement is regarding a Medicare drug plan, according to Politico.
    • US President Trump posted "We are making great progress on “The One, Big, Beautiful Bill.” Our Economy is doing well, but it’s going to BOOM in a way never seen before. We are going to do NO TAX ON TIPS, NO TAX ON SENIORS’ SOCIAL SECURITY, NO TAX ON OVERTIME, and much more. It will be the biggest Tax Cut for Middle and Working Class Americans by far, and it is time for Main Street to WIN. MAKE AMERICA GREAT AGAIN!"
    • White House said the Treasury and Commerce departments have formulated plans for a sovereign wealth fund, but no final decisions have yet been made.
    • China is considering largely scrapping its pre-sales model for homes, people familiar said. The move aims to address the country’s housing crisis, but may exacerbate cash flow pressure on developers. BBG
    • The BOJ can’t ignore the potential downside risks to prices stemming from US tariffs, Kazuo Ueda said. BBG
    • The Bank of England cut interest rates by a quarter point to 4.25% as Donald Trump’s global trade war weighs on UK growth, in a decision that split senior officials into three groups and was made before the US President hinted at an imminent deal to lower tariffs on British exports. BBG
    • Brazil’s central bank raised its interest rate by a half-point to 14.75%, the highest level since 2006. Policymakers kept their options open for either another hike or a pause at its next decision. BBG
    • GOOGL +2% ... Google issued statement overnight, responding to AAPL's intraday comments on search traffic: We continue to see overall query growth in Search. That includes an increase in total queries coming from Apple’s devices and platforms. More generally, as we enhance Search with new features, people are seeing that Google Search is more useful for more of their queries — and they’re accessing it for new things and in new ways, whether from browsers or the Google app, using their voice or Google Lens. We’re excited to continue this innovation and look forward to sharing more at Google I/O."
    • Trump tapped Casey Means to be the next US surgeon general after his prior nominee was withdrawn. The health app founder is a vocal critic of the pharmaceutical industry and Big Food. BBG

    A more detailed look at global markets courtesy of Newsquawk

    APAC stocks were mostly higher amid some trade optimism and following the mildly positive handover from Wall St where price action was choppy in the aftermath of the FOMC meeting as the Fed kept the FFR at 4.25-4.50%, as expected, and noted that risks to the economic outlook increased further, while Fed Chair Powell reiterated a wait-and-see approach and ruled out a pre-emptive cut during the presser. ASX 200 marginally gained amid strength in gold miners, industrials and tech but with the upside capped by weakness in the top-weighted financial sector after Big 4 bank ANZ's earnings. Nikkei 225 was underpinned by recent currency weakness and trade deal optimism, although a return to the 37,000 level remained elusive. Hang Seng and Shanghai Comp remained positive following the previous day's PBoC's policy loosening, but with further upside in the mainland limited after recent comments from US President Trump, who was unwilling to lower tariffs to get China to the table.

    Top Asian News

    • HKMA maintained its base rate at 4.75%, as expected, in lockstep with the Fed.
    • BoJ Minutes from the March 18th-19th Meeting reiterated they are to raise rates if the economic outlook is realised and a member said it's appropriate to pay close attention to the new US policies and their impact on the global economy. Furthermore, a member said the BoJ would need to be particularly cautious when considering the timing of the next rate hike as downside risks stemming from US policies had rapidly heightened, while a member said that even with heightened uncertainties, it did not warrant BoJ to be always cautious and the BoJ may face a situation where it should act decisively.
    • China is weighing housing market overhaul to curb pre-sales, via Bloomberg

    European bourses (STOXX 600 +0.3%) opened mostly firmer and have traded with an upward bias throughout the European morning. European sectors are mixed; Tech takes the top spot, joined closely by Industrials whilst Healthcare lags. Tech benefits from post-earning strength in Infineon (+3%) - despite missing on headline metrics and highlighting that it sees 2025 rev. slightly lower Y/Y due to tariff impact. US equity futures (ES +0.8%, NQ +1%) are broadly in the green, in-fitting with the broader risk tone as markets await Trump’s trade announcement.

    Top European News

    • UK PM Starmer is expected to promise on Thursday that his government will deliver a defence dividend for voters, framing an increase in military spending forced by a US shift away from underwriting Europe's security, as an economic opportunity, according to Reuters.
    • Sky's Coates says his sources are confirming that the US-UK trade deal claims are correct. Will be a "heads of terms" agreement, rather than a full deal, but substantive.
    • NIESR lowered its UK 2025 GDP growth forecast to 1.2% from 1.5%, while it said Chancellor Reeves looks set to miss her budget targets again, partly due to the economic impact from her tax increase on employers, which raises the prospect of more tax hikes.
    • Swedish Riksbank Rate 2.25% vs. Exp. 2.25% (Prev. 2.25%); it is somewhat more probable that inflation will be lower than that it will be higher than in the March forecast. This could suggest a slight easing of monetary policy going forward.
    • Norges Bank Key Policy Rate 4.5% vs. Exp. 4.5% (Prev. 4.5%); outlook implies that the policy rate will most likely be reduced in the course of 2025.

    FX

    • DXY saw an uptick in early European trade, taking the index back above the 100 threshold; no obvious driver was seen behind the move at the time. Last night's FOMC policy announcement had little follow-through into the USD with the Fed keeping rates unchanged as expected whilst noting that risks to the economic outlook increased further and risks to both sides of the mandate have risen. From a trade perspective, attention is on the details of the expected upcoming UK trade deal announcement whereby the agreement will be eyed as a proxy of what is to come. DXY has hit a new high for the week at 100.20.
    • EUR is fractionally softer vs. the USD with Eurozone newsflow on the light side. On the trade front, the EU is set to announce today a provisional list of tariffs against the US which will be enforced if talks with the US fail. EUR/USD has reverted back to a 1.12 handle and hit a fresh low for the week at 1.1271.
    • JPY is softer on account of the positive risk sentiment which has stemmed from hopes on the trade front. BoJ Minutes was a non-event given it recaps the March meeting. USD/JPY has ventured as high as 144.51.
    • GBP is a touch softer vs. the USD but to a lesser degree than peers amid increased optimism on the trade front with the US and UK expected to announce a trade deal later today. That being said, it is worth noting that the announcement is set to be a "heads of terms" agreement, rather than a full deal, but substantive, according to Sky News. Attention now turns to Thursday's BoE meeting, which is expected to see policymakers deliver a 25bps rate cut; focus will be on any potential tweaks to guidance. Morgan Stanley expects the "gradual and careful" language to be removed to provide the MPC “space to accelerate cuts if needed”.
    • Antipodeans are both slightly softer vs. the USD with domestic newsflow from Australia and New Zealand on the light side.
    • SEK is a touch softer in the aftermath of the Riksbank policy announcement which saw the central bank stand pat on rates as expected. The accompanying statement noted that "it is somewhat more probable that inflation will be lower than that it will be higher than in the March forecast", adding that this "could suggest a slight easing of monetary policy going forward". However, the Bank did stress the uncertainty surrounding the outlook. EUR/SEK has been as high as 10.9424 but is yet to approach its 50DMA to the upside at 10.9491.
    • Little follow-through seen in the NOK after the Norges bank stood pat on rates at 4.5% as expected. The accompanying statement noted that restrictive monetary policy is still needed, adding that, if the policy rate is lowered prematurely, prices may continue to rise rapidly. However, the outlook implies that the policy rate will most likely be reduced in the course of 2025.
    • PBoC set USD/CNY mid-point at 7.2073 vs exp. 7.2385 (Prev. 7.2005).
    • Brazil Central Bank hiked the Selic rate by 50bps to 14.75%, as expected with the decision unanimous, while it stated that additional caution is needed for the next meeting and the scenario also demands flexibility to incorporate data that impact the inflation outlook. Furthermore, the BCB said it will remain vigilant and the calibration of the appropriate tightening of the monetary policy will continue to be guided by the objective of bringing inflation back to the target in the relevant horizon.

    Fixed Income

    • The Fed's decision to keep rates steady (as expected) and Powell stressing a wait-and-see approach to policy, sparked some two-way action in USTs - before then extending a little lower into the APAC session. As for today, US President Trump saying he will announce a trade deal (with the UK) today has managed to boost the risk tone. USTs currently a touch into the red but above yesterday’s low in a 111-11 to 111-19 band. Ahead, weekly jobless claims are due before the NY Fed SCE, in March it showed an increase in near-term inflation expectations and a slight moderation further out alongside an expected deterioration in the labour market. A 30yr auction is also scheduled.
    • Gilts opened bang on the unchanged mark and despite an initial slip to a 93.35 low, comfortably above Wednesday’s 92.79 base, the benchmark has since been on a gentle grind higher despite the constructive risk tone as participants prepared for upcoming UK-specific risk events. Holding around its 93.54 session peak. Awaiting Trump’s 15:00BST press conference for details on a trade announcement which has since been confirmed to be between the US and UK. But before that, attention will be on the BoE where rates are expected to be cut by 25bps in a unanimous decision though the magnitude could be subject to dovish dissent.
    • Bunds are softer, in-fitting with USTs and the constructive risk tone. In contrast to the US and UK, newsflow for the bloc has been a little lighter. No move to a surprisingly strong set of German Industrial data for March this morning. At the low end of a 131.35 to 131.65 band.
    • Spain sells EUR 6.2bln vs. Exp. EUR 5.5-6.5bln 2.40% 2028, 2.70% 2030, 4.00% 2054 Bono & EUR 0.672bln vs. Exp. EUR 0.25-0.75bln 1.00% 2030 I/L

    Commodities

    • Crude is bid, but off best as the USD fights back in the European morning (see FX). Currently holding around the mid-point of today’s parameters which are just under USD 1/bbl in size and in very familiar levels from the last few days/weeks. At best, WTI and Brent got just above the USD 58.50/bbl and USD 61.50/bbl marks but failed to make any further ground as the DXY picked back up above the 100.00 mark.
    • Gold is under pressure as the risk tone is supported by Trump’s trade announcement, an event we now know relates to the UK, and also the discussed recovery in the USD. Currently trading in a USD 3,320.68-3,414.50/oz range.
    • Copper has been rangebound since APAC trade after the pressure seen on Wednesday with 3M LME Copper basically holding at the bottom end of yesterday’s USD 9.36-9.47k band.
    • PBoC is reportedly to allow local lenders to purchase more USD to fund increased gold import quotas, via Reuters citing sources.
    • Citi revises its 0-3 month point price for Brent to USD 55/bbl (prev. 60/bbl). No US-Iran deal and escalatory action could see prices return to USD +70/bbl.
    • Iraq sets the June Barah medium crude OSP to Asia at plus USD 0.45/bbl to Oman/Dubai average, Europe minus USD 3.20bbl vs. dated Brent, North and South America minus USD 0.75/bbl vs. ASCI, according to SOMO.
    • Kazakhstan (Apr) oil and condensate daily output +6.5% to 277k tons, according to Interfax; production in May seen at similar levels to April.

    US Event Calendar

    • 8:30 am: 1Q P Nonfarm Productivity, est. -0.75%, prior 1.5%
    • 8:30 am: 1Q P Unit Labor Costs, est. 5.1%, prior 2.2%
    • 8:30 am: May 3 Initial Jobless Claims, est. 230k, prior 241k
    • 8:30 am: Apr 26 Continuing Claims, est. 1895k, prior 1916k
    • 10:00 am: Mar F Wholesale Inventories MoM, est. 0.5%, prior 0.5

    DB's Jim Reid concludes the overnight wrap

    In a Trump 2.0 world it often seems like the news flow doesn't really get going until after the US market closes and today is another example of that as overnight Mr Trump has teased that a "major trade deal" will be announced today at 10am DC time (15:00 BST). This must be the very big announcement he flagged on Tuesday. The media are all lining up behind the deal being with the UK. Given that full trade deals take years to negotiate, this will likely be a framework and it will be interesting to see whether the 10% baseline tariff stays as that will provide an important template for negotiations with other countries and a good guide to the long-term tariff strategy of the US.

    Asian equity markets and European/UK futures are responding positively to the news that comes a couple of days before trade talks between Washington and Beijing over the weekend. Across the region, the Hang Seng (+1.10%) is leading gains with the CSI (+0.75%) and the Shanghai Composite (+0.38%) also higher. Elsewhere, the Nikkei (+0.28%), the KOSPI (+0.49%) and the S&P/ASX 200 (+0.21%) are also edging higher. S&P 500 (+0.84%) and NASDAQ 100 (+1.16%) futures are building on a strong close that we will discuss below. Euro Stoxx futures are +0.80% and FTSE futures +0.75%. Sterling is around half a percent higher.

    This news has slightly overshadowed the Fed last night, where as widely expected, the FOMC kept the fed funds rate on hold for a third meeting running at 4.25-4.50%, while sticking to a patient tone amid heightened uncertainty. The prepared statement noted that uncertainty had “increased further” as risks of both “higher unemployment and higher inflation have risen”. In the press conference Chair Powell acknowledged opposing pressures on its dual mandate stemming from larger-than-expected tariffs announced so far and offered little guidance on the policy path ahead. Powell emphasized the elevated uncertainty but also noted that the economy remains resilient and repeated that policy is well positioned to respond, while pushing back on the idea of pre-emptive rate cuts. Our US economists continue to expect the next rate cut to come in December, with risks tilted towards earlier cuts if unemployment rises more sharply. See their full reaction here.

    Rates initially saw a moderate rally following the Fed decision, but this then reversed as Powell emphasised a wait-and-see approach. The next rate cut is now 80% priced by the July meeting while the amount of Fed cuts priced by December declined by -3.1bps yesterday to 78bps, though this move had already played out pre-FOMC. 2yr Treasury yields were little changed (-0.6bps to 3.78%), while 10yr yields declined -2.6bps to 4.27%. This morning in Asia, Treasury yields have reversed higher again with 2yr (+2.3bps) and 10yr (+1.9bps) yields settling at around 3.80% and 4.29% respectively as we go to print.

    Equities saw a muted response to the Fed decision, but the S&P 500 managed to post a +0.43% gain by the close thanks to a late rally following a Bloomberg report that the Trump administration is planning to rescind Biden-era AI chip curbs as part of a broader move to revise semiconductor trade restrictions. The reporting helped the Philadelphia semiconductor index rise +1.74% on the day, with Nvidia +3.10% higher.

    However, the overall Mag-7 underperformed (-0.26%) as Alphabet (-7.26%) and Apple (-1.14%) lost ground following comments by a senior Apple executive that the company was “actively looking at” revamping its Safari web browser to focus on AI-powered search engines. The comments came amid a DoJ lawsuit against Alphabet that could threaten the companies’ partnership that makes Google the default offering in Apple’s browser. In addition to highlighting the anti-trust cases against big tech, the news is a reminder that while the Mag-7 stocks have benefited immensely from AI optimism, their existing business models also face risks from AI-driven disruption.

    Ahead of the Fed’s decision, European markets experienced a risk-off move, with the STOXX 600 (-0.54%) posting its biggest decline in four weeks. The moves occurred across the continent, and even the FTSE 100 (-0.44%) moved lower, ending its record winning run of 16 consecutive gains. A remarkable stat. Let's see what today's trade deal does for the UK. Otherwise, France’s CAC 40 (-0.91%) saw a particular underperformance, losing ground for a third day running, and Germany’s DAX was down -0.58%. And the risk-off tone was echoed on the rates side, as yields on 10yr bunds (-6.6bps), OATs (-6.4bps) and BTPs (-7.9bps) all took a sharp turn lower. The moves also got a boost from the latest decline in oil prices, with Brent crude down -1.66% on the day to $61.12/bbl. The peak this year was $82.03/bbl on January 15.

    Looking forward, central banks will stay in the spotlight today, as the Bank of England are announcing their own policy decision. It’s widely expected they’ll deliver a 25bp cut today, which would take the Bank Rate down to 4.25%, and continue the pattern of quarterly rate cuts that we’ve had since August. As with the Fed, it’s their first decision since Liberation Day, so all eyes will be on the new forecasts, and our UK economist thinks that meaningful changes are likely. He expects them to cut their growth projections as the unfolding trade shock hits GDP. And he also sees the inflation forecasts being revised lower thanks to stronger sterling and lower energy prices.

    Finally on the geopolitical side, there’s been increasing market attention on the situation between India and Pakistan. In terms of the latest, Pakistan said yesterday that they would retaliate against India’s air strikes, and Pakistan’s KSE-100 equity index closed -3.02% lower. By contrast, Indian equities have been much less affected, and the NIFTY 50 index was up +0.14%. This morning, the NIFTY 50 (-0.04%) is fairly flat. The situation has raised fears about an escalation between the two counties, and it represents another example of how the Global South is likely to prove increasingly important for the global backdrop.

    To the day ahead, and one of the main highlights will be the Bank of England’s latest policy decision, along with the subsequent press conference with Governor Bailey. Separately, the Bank of Canada will release their Financial Stability Report, and we’ll hear from Governor Macklem too. Elsewhere, US data releases include the weekly initial jobless claims, as well as nonfarm productivity for Q1.

    Tyler Durden Thu, 05/08/2025 - 08:24
    https://www.zerohedge.com/markets/futures-global-markets-jump-trump-trade-deal-uk
  14. Site: Zero Hedge
    Goodwill Gesture Before Trade Talks? China Airlines Places Order For 14 Boeing 777 Jets
    2 days 14 min ago
    Author: Tyler Durden
    Goodwill Gesture Before Trade Talks? China Airlines Places Order For 14 Boeing 777 Jets

    Just two days before U.S. Treasury Secretary Scott Bessent is set to meet his Chinese counterpart for the first round of trade talks in Switzerland, Boeing revealed a new order for widebody jets from a Chinese state-owned airline—presumably a calculated gesture of goodwill ahead of negotiations. 

    Boeing announced that China Airlines has become the "newest 777X customer with an order for 10 777-9 passenger and four 777-8 Freighter airplanes." 

    "In addition to the firm order, which was booked in March 2025 and was posted as unidentified on Boeing's orders and deliveries website, the airline has options to purchase five 777-9s and four 777-8 Freighters," the plane manufacturer said, adding, "With this order, China Airlines joins an exclusive group of global airlines that have ordered the passenger and freighter variants of the 777X family."

    About one month ago, when the U.S. and China unleashed a tit-for-tat tariff war, eventually placing 145% levies on Chinese goods entering the U.S. and a 125% rate on U.S. goods entering China, Juneyao Airlines delayed the delivery of a widebody aircraft from Boeing. This delay was suspected to be part of Beijing's non-tariff countermeasures (including limiting Hollywood film imports, etc...). 

    Boeing's order announcement comes days before Bessent, who has become the point person in trade negotiations, will sit down with top Chinese trade negotiators in Switzerland to begin the first round of a fair trade.

    "The negotiations will begin on Saturday," Bessent said in testimony before the House Financial Services Committee on Wednesday.

    During a Fox News interview, Bessent emphasized: "We don't want to decouple" with China, adding, "What we want is fair trade."

    The key takeaway: China Airlines' order of Boeing 777Xs looks like a kind gesture of goodwill ahead of this weekend's trade talks. Though the order was officially booked in March, Beijing could have easily delayed or canceled it if preliminary trade talks (at U.S. Treasury) were headed in the wrong direction. Instead, the timing suggests momentum may be building toward a breakthrough.

    Goldman chief economist Jan Hatzius recently outlined what a potential breakthrough in U.S.-China trade talks might entail.

    All good news so far... 

     

     

     

     

    Tyler Durden Thu, 05/08/2025 - 08:05
    https://www.zerohedge.com/geopolitical/goodwill-gesture-trade-talks-china-airlines-places-order-14-boeing-777-jets
  15. Site: PaulCraigRoberts.org
    Without Religion There Is No Morality
    2 days 18 min ago
    Author: pcr3

    Without Religion There Is No Morality

    Paul Craig Roberts

    When liberals destroyed religion, they destroyed morality. With the demise of morality went integrity and a person’s word.  Today Western societies are overwhelmed by crime.  Sexual morality is long gone. Young women compete for attention according to which woman can copulate with the most men in a 24-hour time period. One contestant says her father is very proud of her.  See:  https://www.thesun.co.uk/fabulous/32172629/lily-phillips-first-person-bonk-1000-24-hours/ 

    Journalists have no compulsion against lying to the public in behalf of an agenda or an advertiser.

    Medical practitioners have no hesitation in supporting treatments, such as the Covid “vaccine” that killed and maimed millions of people for the sake of Big Pharma’s profits.  And they refuse to be held accountable.

    The list is long of morality’s absence.  The worst is the immorality of the entire world, with the single exception of black South Africa, supporting, not opposing, Israel’s assassination of Palestine and Palestinians.  American governments have made the genocide possible by supplying the bombs, money, and diplomatic cover.  And we are faced with the prospect that Americans, who overthrew Iraq, Libya, and Syria for Israel, will be taken to war with Iran for Israel’s purposes.  Will Americans ever stop dying for Satan’s Chosen People?

    The shame that the Biden and Trump regimes have brought on every American is extraordinary.  Two US presidential regimes have made Americans responsible for the support of genocide, and no one is ashamed. The Christian Zionists are well pleased.  We are doing God’s will protecting Israel, they say.  In fact, we are enabling Satan’s Chosen People whose extraordinary immorality resulted in God kicking the Israelis out of the Middle East and dispersing them among the world, stateless.

    In the midst of Netanyahu’s extermination of Palestine, Netanyahu was invited to address a joint session of the US House and Senate and received 53 standing ovations.  The American Congress could not refrain from pouring its consent on genocide.

    Some countries in past times, such as Spain, recognized the exploitative practices of Jews and  kicked them out. In Eastern European countries and in Russia the exploitative practices of Satan’s Chosen People against the indigenous populations resulted in pogroms against Jews, of which Jews only give one side, their propagandistic side.

    Satan’s attack on Western morality has been led by Jews.  They gave us pornography.  They gave us the absence of Christian symbols in public spaces. They gave us the March Through the Institutions, which succeeded in destroying the self-belief of Western gentiles.  And now they are bringing us to World War III.

    It is extraordinary how 10 million Israelis rule the world.
    https://www.paulcraigroberts.org/2025/05/08/without-religion-there-is-no-morality/
  16. Site: PaulCraigRoberts.org
    Satan’s Chosen People Are Enabled by Americans
    2 days 19 min ago
    Author: pcr3

    Satan’s Chosen People Are Enabled by Americans
    https://www.paulcraigroberts.org/2025/05/08/satans-chosen-people-are-enabled-by-americans/
  17. Site: PaulCraigRoberts.org
    US Out EU In
    2 days 19 min ago
    Author: pcr3

    US Out EU In

    https://www.rt.com/russia/616958-ukraine-eu-accession-talks-2025/ 
    https://www.paulcraigroberts.org/2025/05/08/us-out-eu-in/
  18. Site: Mises Institute
    Leo XIV elected Pope (fmr. Cardinal Robert Prevost)
    2 days 19 min ago
    Considered centrist (by modern standards), not outspoken on political issues. Born American, but has been a Peruvian bishop for the past 11 years and is deeply connected to Latin America.
    https://mises.org/notes-margin/leo-xiv-elected-pope-fmr-cardinal-robert-prevost
  19. Site: PaulCraigRoberts.org
    Kellogg Announces a Peace Deal that Isn’t
    2 days 19 min ago
    Author: pcr3

    Kellogg Announces a Peace Deal that Isn’t

    https://www.rt.com/russia/616989-kremlin-comment-us-peace-initiative/ 
    https://www.paulcraigroberts.org/2025/05/08/kellogg-announces-a-peace-deal-that-isnt/
  20. Site: Mundabor's blog
    Popes, Spinach, And You
    2 days 32 min ago
    Author: Mundabor
    I am not going to lie, I dread the moment of the white smoke. I dread the time when I sit there in front of the tv (if it happens when I am at home), and what comes out is a guy I consider a pretty safe candidate for hell. After more than 12 years […]
    https://mundabor.wordpress.com/2025/05/08/popes-spinach-and-you/
  21. Site: Fr. Z's Blog
    “…qui sibi nomen imposuit [NAME]”? Nominative? Accusative? Genitive?
    2 days 39 min ago
    Author: frz@wdtprs.com (Fr. John Zuhlsdorf)
    From a priest… QUAERITUR:   I’m sure Rome is exciting this week more than Easter Week. I noticed something peculiar watching old Habemus Papam videos. Following the sibi nomen imposuit, ir seems the name has traditionally been given first in the … Read More →
    https://wdtprs.com/2025/05/qui-sibi-nomen-imposuit-name-nominative-accusative-genitive/
  22. Site: Mises Institute
    Does Wealth Inequality Cause Degradation?
    2 days 1 hour ago
    Author: Owen Ashworth
    In the name of fighting income inequality, pundits in the UK and US are calling for wealth taxes as magic bullets that will restore an imaginary state of income equality that never existed in the first place. It is time to abandon this idea for good.
    https://mises.org/mises-wire/does-wealth-inequality-cause-degradation
  23. Site: Mises Institute
    Restaurant Brands earnings miss as consumers spend less on fast food
    2 days 1 hour ago
    The bottom 80% of America is in recession and is starting to cut back on extra spending such as fast food.
    https://mises.org/notes-margin/restaurant-brands-earnings-miss-consumers-spend-less-fast-food
  24. Site: Novus Motus Liturgicus
    The Basilica of St Victor in Milan
    2 days 1 hour ago
    The church of Milan today celebrates the feast of the martyr St Victor, a Christian soldier from the Roman province of Africa, who was killed in the first year of the persecution of Diocletian, 303 AD, while serving at Milan under the Emperor Maximian. He is usually called “Maurus - the Moor” to distinguish him from the innumerable other Saints called Victor, which was a very common name in the Gregory DiPippohttp://www.blogger.com/profile/13295638279418781125noreply@blogger.com0
    https://www.newliturgicalmovement.org/2025/04/medieval-vespers-of-easter.html
  25. Site: southern orders
    2013 AND 2025 CONCLAVES
    2 days 1 hour ago




    Interestingly enough, Cardinal Re who was the celebrant for the pre-Conclave Mass at St. Peter’s (he is 93 I think) was the Dean of the Cardinals for the Conclave in 2013 which elected Cardinal Bergoglio. 

    Cardinal Parolin, now the Dean of Cardinals led the Conclave in 2025 (yesterday).

    At the 2013 Conclave there were many more cardinals who wore lace surplices than at the 2025 Conclave, although lace was certainly to be found on cardinals, some quite young. 

    Please note the ornate stole and lace surplice that Re wore in 2013 compared to what Cardinal Parolin wore yesterday in 2025.
    http://southernorderspage.blogspot.com/2025/05/2013-and-2025-conclaves.html
  26. Site: Fr. Z's Blog
    Conclave watch… WATCH: Readers… get involved!
    2 days 1 hour ago
    Author: frz@wdtprs.com (Fr. John Zuhlsdorf)
    Collectively we can do some looking around. If you are watching online or by TV any coverage of the conclave, or the chimney, what service or network are you watching? Also, WHOM have these services or networks brought in for … Read More →
    https://wdtprs.com/2025/05/conclave-watch-watch-readers-get-involved/
  27. Site: Zero Hedge
    India Is China 2.0
    2 days 1 hour ago
    Author: Tyler Durden
    India Is China 2.0

    Authored by Spencer Morrison via American Greatness,

    India is taking President Trump up on his offer for reciprocal free trade, proposing zero-for-zero tariffs on specific goods like pharmaceuticals, steel, and automobile components.

    This has electrified President Trump’s base—the reciprocal tariffs are working! India’s coming to the table!

    Sorry to burst your bubble: America will not benefit from free trade with India—or any other Third World country. 

    Why? 

    One word:

    Externalities.

    President Trump would be wise to remember that tariffs are not about moving factories from China to India—they’re about moving factories back to America.

    Hunting Unicorns

    Real international free trade—much like real communism—has never been tried. Why? It’s impossible.

    The reality that economists & libertarians refuse to recognize is that different countries are different. And not just different in a nominal sense—different in real and practical ways that prevent economic integration.

    First, America and India have different levels of economic development that cannot be reconciled without seriously rebalancing the factors of production.

    The average annual wage in America is $63,000, while the average annual wage in India is just $2,500—the average American earns 25x more than the average Indian. Labor is often the largest input cost for making products, accounting for approximately 30–35% of the cost of American manufacturing—and it’s an even higher proportion in many service industries.

    If America and India traded freely, India’s low wages would undercut America’s labor market—either Americans will need to accept lower wages domestically, or the factories will relocate to India to take advantage of dirt-cheap labor.

    How do we know this will happen? The exact same thing happened after China joined the World Trade Organization (WTO) in 2001.

    In 2001, the average annual wage in America was $30,846, while the average annual wage in China was just $1,127—the average American earned 27x more than the average Chinese. What happened when American workers competed with Chinese workers? American factories moved to China, and wages stagnated.

    The pace of offshoring was harrowing. Since 2001, more than 60,000 factories have moved abroad, killing over 5 million manufacturing jobs. This has decimated America’s industrial capacity and hollowed out local communities. And no, robots and automation had nothing to do with this process, in case you were curious.

    In fact, the process has been going on even earlier than 2001. America has run global trade deficits every year since 1974. The cumulative value of these deficits is $25 trillion, after adjusting for inflation. This has decoupled wages for American workers from their productivity—even though workers produce more value, they aren’t paid for it. Why? Because the wages are suppressed by competition with cheap foreign labor.

    Notice how the price differentials respecting America and China in 2001 and America and India today are almost identical. Why do we think the result will be different this time around?

    From India With Love

    In addition to obvious market asymmetries like the price of labor, the cost of doing business in India is lower because of externalities. Essentially, there are many costs of doing business in America that are baked into the final price of a product, such as the costs of environmental remediation, labor standards, and upholding higher quality control standards.

    These costs are not baked into the price of Indian products. Instead, the costs of pollution or abusive labor standards are externalized to the environment or society at large.

    But of course, we always pay the piper. Rather than pay 10 cents more per spatula, we live with plastic trash from India floating up on American beaches or mercury poisoning the fish we eat—we may not pay the price at the store, but we certainly pay it with our health and with our soul—all for the sake of “cheap” goods.

    Often, foreign goods are not actually cheaper than American goods: they simply do not reflect the full cost of production. For this reason, America cannot produce goods as cheaply as China or India—not unless we are willing to destroy our standard of living—not unless we are willing to sacrifice our environment—not unless we are willing to outlaw morality in the name of business and sell our very soul for profit.

    No. Reducing the cost of business to compete with India on price is simply not desirable. Nor is it possible.

    Remember, even if America allowed manufacturers to externalize all costs, our economy is structurally distinct from India’s. In America, private corporations dominate the market. Although these corporations are large, and many are owned by the same few investment firms—like BlackRock—they remain private entities.

    This is not the case in India, where the state is crafting a cohesive industrial policy designed to industrialize the country. Part of this policy appears to be to piggyback on America’s consumer market when it comes to strategic industries, like steel or pharmaceuticals—just like China.

    Ultimately, the only way to protect America’s market from asymmetrical competition from countries like China or India is to price in these externalities by imposing protective tariffs. This is discussed in detail in my book Reshore: How Tariffs Will Bring Our Jobs Home & Revive the American Dream.

    The Shock and Awe of Reality

    Different countries have different levels of economic development, legal systems, tax structures, histories, geographies, languages, cultural and business norms, and demographics. All of these differences can create market asymmetries that are simply not relevant domestically.

    At best, free traders can reduce tariffs and other visible trade barriers, like taxes, transportation costs, and legal disharmonies. However, they cannot uproot the sort of cultural norms and political corruption that make doing business in India—or China, or Mexico, or Italy—different than doing business in America.

    Ultimately, America’s interests are not served by moving industry from China to India. The industry needs to come home. Let’s not make the same mistake with India that we did with China—say no to free trade and raise the tariff walls.

    Tyler Durden Thu, 05/08/2025 - 06:30
    https://www.zerohedge.com/geopolitical/india-china-20
  28. Site: Catholic Herald
    ‘Fumata nera’ again from conclave chimney
    2 days 2 hours ago
    Author: The Catholic Herald

    The signal of black smoke – fumata nera – indicating that the 133 cardinal-electors have failed to elect a new pope has come from the Sistine Chapel chimney following the first two ballots of the day.

    Black smoke billowing from the chimney at 11.51 a.m. local time in Rome indicated that again the required two-thirds majority hasn’t been achieved to find a successor to Pope Francis, who died on Easter Monday, 21 April, at the age of 88 years old.

    Once white smoke emerges that will be the signal that the next leader of the world’s 1.4 billion Catholics and the 267th pope has been chosen.

    The following voting and ballot burning times are given as rough estimates for Thursday 8 May and Friday 9 May:

    First ballot
    Rome — 10:30
    London — 09:30

    Second ballot
    Rome — 12:00
    London — 11:00

    Third ballot
    Rome — 17:30
    London — 16:30

    Fourth ballot
    Rome — 19:30
    London — 18:30

    Smoke will only appear after the first and third ballots if a pope has been elected. Otherwise, after every two rounds, the cardinals’ ballot papers, on which they write the name of the person they want elected pope, are burned in one of two special stoves installed inside the Sistine Chapel for the conclave, with black smoke emitting after the second and fourth ballots.

    It means that as far as today is concerned, we will only see smoke (white) after the third ballot at 5.30 p.m., local time Rome, if a pope is elected; otherwise, there will be no more smoke today until after the fourth ballot at 7.30 p.m., when either black or white smoke will be released.

    RELATED: Ballot burning times: when to watch for white smoke

    Photo: Black smoke rising from the chimney of the Sistine Chapel signalling that cardinals failed to elect a new pope during their conclave, Vatican, 8 May 2025. (Photo by TIZIANA FABI/AFP via Getty Images.)

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    https://thecatholicherald.com/fumata-nera-again-from-sistine-chapel-chimney/
  29. Site: Catholic Herald
    Cardinals on a diet of discernment: Vatican nutritionist designs stress-friendly menu for conclave
    2 days 2 hours ago
    Author: The Catholic Herald

    The menu for the cardinal-electors involved in the conclave to elect the next pope has been designed by a nutritionist to assist participants in their arduous task and to offset the likes of increased stress levels.

    Nutritionist Giorgio Calabrese, an Italian doctor who specialises in nutritional science, is behind the special conclave menu comprising dishes designed specifically to provide the necessary energy for the cardinals as they lead a sedentary but stressful life for several days, reports the Catholic News Agency (CNA).

    “Since they won’t be moving around much and have little time because they have four votes a day, I proposed a menu tailored to this circumstance,” says Calabrese, who is also the scientific adviser to the Italian Ministry of Health. He explains that because the cardinals “need to be focused” this raises the level of cortisol, the so-called “stress hormone” produced in their bodies “through the adrenal glands”.

    This can be compounded, he says, for those cardinals from Northern European or American cultures, where savory breakfasts are more common, thereby “overloading their metabolic system just when they need immediate energy” that is better provided by “simple carbohydrates”.

    So to help lower cortisol levels, “it makes more sense for them not to have bacon, eggs and meat for breakfast but rather a sweet breakfast, with partially skimmed milk and toast with jam or honey”.

    Needless to say, they will also be offered tea or coffee: “This is essential because in the morning they have to deal with the stress of voting,” Calabrese said.

    Lunch, the nutritionist explained, should be light, quick and tasty, “satisfying the palate without overloading” the body.

    The menu offers this with the likes of a first course such as light pasta with tomato and fresh basil, or a vegetable or legume risotto, “for good digestion and a dose of carbohydrates that provide energy”.

    For the main course, it could be “white meat or grilled, not fried, fish with steamed or grilled vegetables”.

    He also highlighted the importance of using “extra virgin” olive oil and toasting the bread to avoid excessive crumbs, as they contain a lot of fat. On the other hand, he noted that the crust “contains carbohydrates rich in fiber” that are good for maintaining health.

    “Since they will continue in the afternoon with two more votes, they may take a short nap,” he explained. In order not to unduly impact this, for dessert, the nutritionist recommends a piece of fruit.

    “If they were outside, I would tell them to have ice cream. But since they can’t be, the nuns can give them fresh fruit, like strawberries, blueberries, and raspberries,” Calabrese said.

    He also recommended having “partially skimmed yogurt” mid-afternoon. “They can also have tea, but one with less caffeine, to avoid agitation.”

    By evening, having already gone through four votes, “They’re stressed, so they can’t eat pasta carbonara or amatriciana.”

    Instead, dinner should be “easy to digest”. Therefore, the proposed menu includes “cooked ham, smoked salmon, bluefish or sardines, tuna without added oil or sauce and bresaola”.

    “All of this can be alternated with fresh cheeses, such as mozzarella,” he added.

    Wine is available, though Calabrese emphasised that if wine is desired it should be drunk in moderation, and, ideally, “only a glass”.

    Stronger alcohol, such as liquor, “puts a heavy strain on the liver, and that takes energy away from the brain” (though the CNA report didn’t clarify if hard liquor is actually off the menu).

    He added: “They need to keep their minds active and not overtax their liver. That’s why a glass of wine is enough. You drink water to hydrate, you savor wine to nourish yourself.”

    As an alternative to wine, the nutritionist suggested a Moscato d’Asti, which is “pleasant and low in calories and alcohol [5 per cent].”

    Since there are 133 cardinals, Calabrese acknowledges the likelihood that someone has an intolerance or allergy.

    Giving the example of someone who has celiac (a long-term autoimmune disorder, primarily affecting the small intestine), “they can use gluten-free pasta, or rice, which is gluten-free. Also, oats, corn, and quinoa can be substituted.”

    If someone is lactose intolerant, “instead of milk or yogurt, they can have tea or coffee” to give them a boost.

    Calabrese noted that while the menu was submitted to the Vatican, ultimately the final decision is made by the nuns who run St. Martha’s House – where the cardinals are accommodated – the Daughters of Charity of St. Vincent de Paul.

    There are also “trusted” laypeople in charge of serving the cardinals as well as several cooks, all of whom were sworn to secrecy on Monday, as were other personnel involved, such as transportation staff, reports CNA.

    The chef in charge of the kitchens is also subject to strict secrecy. Therefore, the exact menu reserved for the cardinals during the conclave is unknown.

    All meals must be prepared exclusively at St. Martha’s House, as bringing in food prepared outside the Vatican kitchens is strictly prohibited.

    Photo: The flag of Vatican City is seen on St Peter’s Square on the second day of the conclave, in the Vatican on May 8, 2025. (Photo by Stefano Rellandini / AFP)

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    https://thecatholicherald.com/cardinals-on-a-diet-of-discernment-vatican-nutritionist-designs-stress-friendly-menu-for-conclave/
  30. Site: AsiaNews.it
    Small cities over metropolises: The consumption reversal in China
    2 days 2 hours ago
    In the era of tariffs, stimulating domestic demand is vital for Beijing. But consumption is growing slowly—and it is no longer the megacities driving it, but smaller cities, where wages and confidence in the economy are rising. These shifts may also bring about broader social changes.
    https://www.asianews.it/news-en/Small-cities-over-metropolises%3A-The-consumption-reversal-in-China-63043.html
  31. Site: AsiaNews.it
    Protests in Malé over scandal involving minister in Muizzu's government
    2 days 2 hours ago
    Behind the demonstrations is the mysterious fall of a young woman from a building in the capital. According to some sources, politicians and prominent figures are involved. The incident allegedly took place during a party with drugs and alcohol in the Muslim-majority nation, and the police are accused of covering it up. Close associates of the president are also under scrutiny.
    https://www.asianews.it/news-en/Protests-in-Mal%26eacute%3B-over-scandal-involving-minister-in-Muizzu%27s-government-63042.html
  32. Site: Catholic Herald
    LIVE FOOTAGE: White Smoke Watch
    2 days 2 hours ago
    Author: The Catholic Herald

    Fittingly for what some are calling the first “clickbait conclave”, the Vatican is providing a live footage feed of St Peter’s Square.

    It means that wherever you are in the world, despite the 133 cardinal-electors being sealed off from the world in the Sistine Chapel, you can follow the ballots of their votes by watching for smoke coming from the chimney on top of the famous chapel – which sits to the right of St Peter’s Basilica as you look at the front of the basilica – that signals whether a new pope has been elected.

    The signal of black smoke – fumata nera – serves to show that the cardinal-electors have failed to elect a new pope in the latest ballot of the conclave.

    Black smoke billowing from the chimney indicates that no decision has been reached and that the required two-thirds majority hasn’t been achieved to find a successor to Pope Francis, who died on Easter Monday, 21 April, at the age of 88 years old.

    Once white smoke emerges that will be the signal that the next leader of the world’s 1.4 billion Catholics and the 267th pope has been chosen.

    The following ballot burning times are given as rough estimates for Thursday 8 May and Friday 9 May:

    First ballot
    Rome — 10:30
    London — 09:30

    Second ballot
    Rome — 12:00
    London — 11:00

    Third ballot
    Rome — 17:30
    London — 16:30

    Fourth ballot
    Rome — 19:30
    London — 18:30

    Smoke will only appear after the first and third ballots if a pope has been elected. Otherwise, after every two rounds, the cardinals’ ballot papers, on which they write the name of the person they want elected pope, are burned in one of two special stoves installed inside the Sistine Chapel for the conclave, with black smoke emitting after the second and fourth ballots.

    Saturday 10 May 2025

    If no candidate has been elected, then this day will be set aside for prayer and reflection. The last time a conclave lasted more than three days was 1958, when John XXIII was elected on the fourth day of the conclave, though there had been no ballot on the first day. The other outlier during the 20th century was the election of Pius XI in 1922, which took five days, though there was again no ballot on the first day.

    Sunday 11 May – Tuesday 13 May

    Following a day of prayer and reflection, the 133 cardinals will vote in seven more ballots following the same rough schedule given above, after which, if there is still no successful candidate, the conclave will break for another day of prayer and reflection.

    Wednesday 14 May onwards

    The cardinals will vote in up to 18 more ballots, again following the same rough schedule given above, until a candidate receives two-thirds of all votes cast. If there is still no winner, a run-off between the two top candidates will be held until one of them receives the required majority.

    RELATED: Taking charge of 1.4 billion souls: the spectacle gripping the world

    Photo: People gather in St. Peter’s Square during the first day of conclave, Vatican, 7 May 2025. (Photo by Marco Di Lauro/Getty Images.)

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    The post LIVE FOOTAGE: White Smoke Watch first appeared on Catholic Herald.

    The post LIVE FOOTAGE: White Smoke Watch appeared first on Catholic Herald.
    https://thecatholicherald.com/live-footage-white-smoke-watch/
  33. Site: Zero Hedge
    First-Time Homebuyers Face Shifting Market, Stress, Struggles: New Survey
    2 days 2 hours ago
    Author: Tyler Durden
    First-Time Homebuyers Face Shifting Market, Stress, Struggles: New Survey

    A new survey of 1,000 first-time homebuyers reveals the complex and often stressful reality of entering the housing market. Rising housing prices, high interest rates, and market uncertainty have created a tough environment for newcomers, many of whom must stretch their budgets or make lifestyle compromises just to get a foot in the door, according to a new survey from Raleigh Realty. 

    The survey shows a clear generational divide in homeownership. The majority of first-time buyers are Gen X or Baby Boomers, while only 4% are Gen Z. For younger adults, especially Gen Z, the barriers to entry remain high. Those who do purchase tend to be higher earners—63% of Gen Z buyers make more than $75,000 annually. In contrast, many Baby Boomers bought their first homes with more modest incomes, suggesting that affordability has deteriorated over time.

    Income still plays a central role in homeownership access. While many first-time buyers earn between $50,000 and $75,000, a significant portion earn less, especially among older generations. Gen Z stands out again here, with relatively few buyers earning below $50,000. This trend reflects broader concerns among younger people about financial stability, shaped by growing up during the 2008 housing crash and entering adulthood amid pandemic-era economic turmoil.

    Flexible work has had a strong impact on home buying decisions. A third of first-time buyers work remotely or in hybrid roles, and this flexibility often enables them to relocate in search of more affordable housing or better quality of life. Gen Z leads in remote work adoption, with more than 40% working fully in-office, while Baby Boomers represent the largest group not in traditional employment, instead relying on retirement income or alternative sources.

    Despite media narratives about falling housing prices, very few first-time buyers made purchases in the last year. Most bought their homes three to four years ago, during or shortly after the pandemic housing surge. The steep drop in 2023 home sales reflects wider economic conditions, including high inflation and reduced affordability.

    Single-family homes remain the overwhelming favorite among first-time buyers, with 90% choosing this option regardless of income. Even those earning less than $50,000 opted for standalone houses over condos or multi-family units. However, most chose existing homes rather than new construction, likely due to cost or availability.

    For many, the journey into homeownership was taken solo or as a couple. Half of respondents were married, while 40% were single. Only a small percentage bought homes with friends, siblings, or unmarried partners. These results reflect traditional patterns of household formation and financial independence.

    Most buyers moved quickly once they started looking for a home. About 70% closed within six months, and 35% found a home in three months or less. But speed didn’t reduce stress—90% of first-time buyers found the process difficult. The top source of stress was affordability, which overwhelmed concerns about mortgage approval, taxes, or maintenance.

    Financial strain led many buyers to make compromises. Nearly one in five settled for smaller homes, less desirable locations, or properties needing repairs. Stretching the budget was another common trade-off. Baby Boomers were most willing to go over budget, while Gen Z was most likely to compromise on location.

    Concerns about job stability were widespread. More than half of buyers worried they wouldn't be able to make mortgage payments if they lost their job, with the highest anxiety levels among Gen Z and Millennials. Baby Boomers, by contrast, were more confident in their financial resilience, likely due to retirement savings or paid-off homes.

    Contrary to popular belief, most first-time buyers didn’t receive financial help. About 73% paid for their homes without family assistance. Among those who did receive help, contributions varied, with 52% getting $10,000 or less. Just 16% received over $20,000, and only a small share received help from government programs.

    The Raleigh Realty report says that even though mortgage approval is a common concern, most buyers didn’t apply for financing until after they began house hunting. Over half only applied to one lender. The majority selected lenders based on interest rates, while others went with banks they already used or those recommended by real estate agents.

    Despite all these financial concerns, most buyers reported feeling satisfied after purchasing. While only 12% said they bought their dream home, 73% felt that homeownership brought them closer to the American dream. Lower-income buyers tended to report the highest satisfaction, possibly because expectations were more modest.

    Few first-time buyers plan to move soon. Only 9% expect to sell their homes within five years, while nearly half intend to stay for at least a decade. A long-term mindset seems to dominate, with 30% planning to remain for 20 years or more.

    Home improvement is a common post-purchase goal. Around 60% of buyers expect to invest $1,000 to $10,000 in upgrades during the first year, and nearly one in three plan to spend even more. These projects are seen as essential for adding value or addressing compromises made during the purchase process.

    Younger buyers are also more likely to explore income-generating strategies. Around 40% of Gen Z and 30% of Millennials have taken on a second job to manage homeownership costs. Many also rent out parts of their property or use short-term rental platforms. In contrast, only 14% of Baby Boomers supplement their income in this way.

    Emergency savings are more common among first-time buyers than the general population. Around 79% reported having some form of savings, with most holding over $1,000 and 17% saving more than $20,000. Younger buyers may be more motivated to save due to fears about job loss or economic instability.

    In summary the full survey results show that while homeownership is still viewed as an important milestone, today’s first-time buyers are navigating a complex and stressful landscape. Income, generational experience, and work flexibility all influence outcomes, and most buyers are willing to make sacrifices to achieve the goal of owning a home.

    Tyler Durden Thu, 05/08/2025 - 05:45
    https://www.zerohedge.com/markets/first-time-homebuyers-face-shifting-market-stress-struggles-new-survey
  34. Site: Catholic Herald
    Popes from Palestine: could we see another?
    2 days 2 hours ago
    Author: Jack Nassar

    When people think of the papacy, they often envisage St Peter’s Basilica, the vast halls of the Vatican and centuries of European dominance in the Church’s highest office. Few, however, remember that the papacy did not begin in Rome – it began in Palestine.

    The first Pope, St Peter, was a Palestinian Jew: a fisherman from Galilee who answered Christ’s call. His faith was shaped by the land where Jesus walked, where the Beatitudes were first spoken and where the Church itself took root. Yet today, as Christianity struggles to survive in its birthplace, the absence of a modern Palestinian or Middle Eastern Pope raises a question, rarely asked. Could it ever happen again? And if it did, and there was another Palestinian pope, what would it mean?

    For centuries the papacy was almost exclusively European, distancing itself from the region where it all began. But history tells a different story – one that has been largely forgotten. At least two other popes, Evaristus and Theodore I, hailed from Palestine. Both led the Church through times of great turmoil.

    St Evaristus, who was pope from AD 99 to 107, is traditionally believed to have been born in Bethlehem. He led the early Church during Roman persecution, providing spiritual guidance to Christians facing immense challenges. St Theodore, who reigned from AD 642 to 649, was born in Jerusalem. He defended the orthodox understanding of Christ’s dual nature against the Monothelite heresy, excommunicating those who promoted it.

    By then Islamic conquests had already reshaped the Middle East; Jerusalem had been under Muslim rule since AD 638. Evaristus and Theodore were not just spiritual leaders; they were survivors shepherding a Church that was fragile, persecuted and deeply connected to its Palestinian and Eastern roots.

    Today, Palestinian Christians, the direct heirs of this legacy, are barely visible on the world stage. Their numbers are shrinking, their voices drowned out, and their historical role in the Church is often ignored – or worse, deliberately silenced. I still remember the words of my aunt, spoken with quiet sorrow: “We are the people of the land where Christ was born, but it feels as if the Church has abandoned us. Do they not feel our suffering and pain? Do they not see the apartheid wall that cuts Bethlehem from Jerusalem? Do they not hear our prayers?”

    Her words have stayed with me. While the Church calls itself universal, its leadership rarely reflects the land where its faith began. Gestures, while important, are not enough. Electing a pope from Palestine or the wider Middle East would be a historic correction – a declaration that Christianity is not merely a Western religion but one deeply rooted in its place of origin.

    The idea of a modern Palestinian or Arab Pope might seem unlikely. The Vatican has long been shaped by European leadership, and there is only one cardinal of Palestinian descent – Fernando Natalio Chomalí Garib, the Archbishop of Santiago. But history has a way of surprising us. The Church has already broken traditions, choosing popes from Poland, Germany and Argentina. So why not from the land where Christ was born? Why not from the people who have safeguarded the faith through centuries of trials? Sometimes, the most unexpected choice is the one that speaks the deepest truth.

    Figures like Cardinal Louis Raphael Sako of Iraq, Cardinal Béchara Boutros al-Rahi of Lebanon, or even Cardinal Pierbattista Pizzaballa, the Latin Patriarch of Jerusalem, represent a Church still deeply tied to its Eastern heritage. Though Pizzaballa is Italian by birth, he has dedicated his life to the Christians of Palestine – living among them, understanding their pain and struggles, and advocating for their aspirations. Could the Church look toward its own cradle for leadership?

    A young Palestinian seminarian once told me: “We remain faithful, trusting in the Lord’s promise that the gates of hell shall not prevail against His Church. We endure, carrying our crosses as Christ carried His. But sometimes, we wonder – does the universal Church remember us, her children in the land where salvation history unfolded? Or have we become mere relics of the past, or worse, stones in ancient churches that pilgrims visit to renew their faith, while our living faith goes unseen?”

    His words echo a painful truth. Palestinian and Middle Eastern Christians exist, but they are often treated as spectators in their own history. The election of a pope from Palestine or the Middle East would be more than symbolic. It would be a powerful statement from the Church, reconnecting with its roots and acknowledging the struggles of Christians in the Holy Land.

    As Christianity in Palestine faces existential, systematic threats, the question is no longer whether such a pope is possible, but whether the Church is brave enough to return to its origins. Would it remain a historical footnote, or could it mark the beginning of a new era for the global Church?

    The answer lies not only in the hands of the cardinals who elect the pope, but in the hearts of all who believe the Church must remain true to where it first began.

    RELATED: Papabile of the day: Cardinal Pierbattista Pizzaballa – the bridge-builder from Jerusalem

    Photo: Cardinal Pierbattista Pizzaballa, Latin Patriarch of Jerusalem, attends a memorial Mass for Pope Francis at the Church of the Holy Sepulchre in Jerusalem, 23 April 2025. (Photo by JOHN WESSELS/AFP via Getty Images.)

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    The post Popes from Palestine: could we see another? first appeared on Catholic Herald.

    The post Popes from Palestine: could we see another? appeared first on Catholic Herald.
    https://thecatholicherald.com/popes-from-palestine-could-we-see-another/
  35. Site: Catholic Herald
    Unusually late black smoke signal follows sermon with its own signals for conclave
    2 days 2 hours ago
    Author: Elise Ann Allen/ Crux

    The first all-important smoke signal of the conclave came unusually late, set against a rapidly darkening sky over the Vatican yesterday.

    Cardinals enclosed in the Sistine Chapel to elect the new pope cast their first ballot early evening on Wednesday, 7 May, while a massive crowd gathered outside of St. Peter’s Basilica to watch for that first smoke signal of the conclave to elect a successor to Pope Francis and the Catholic Church’s 267th pope.

    While the voting sessions usually last around an hour and a half to two hours, Wednesday’s first session was unusually long, with the chapel doors closing around 6 p.m. local time, and the smoke not emerging from the chimney until after 9 p.m., keeping the tens of thousands gathered below to see the smoke waiting.

    Earlier, Italian Cardinal Giovanni Battista Re, 91, presided over Wednesday’s inaugural Mass for the conclave, which may have contained its own signals to the 133 cardinal-electors about how they should vote (due to being over the voting age cut-off of 80, Re is unable to vote).

    Re in his homily notably did not quote any of Pope Francis’s magisterial documents, which was seen as a slight to Francis and a signal to the cardinals that he believes the next papacy ought to go in a different direction – it is customary to quote the recently-deceased pontiff in an inaugural conclave Mass.

    The perception is that institutional cardinals, those within the Curia, are eager to change course after a pope who largely worked around or in spite of his system, rather than with or through it. Francis often made decisions on his own without consultation and without giving notice to the Curia.

    Some cardinals, because of this, are seen as eager to backpedal on Francis’s curial reforms, and Re’s homily was interpreted as backing this approach, with Parolin as his candidate of choice.

    However, with so many cardinals from around the world, including the global peripheries that Pope Francis so insistently sought to shed light on, what will happen, and what direction the next papacy will take, is still very much an open possibility.

    Some feel that Re actually offered a show of support for Italian Cardinal Pietro Parolin – considered a frontrunner in the conclave – during the inaugural Mass by giving him a warm embrace on the altar.

    The conclave was officially inaugurated on Wednesday, May 7, with a Mass celebrated Pro eligendo Romano Pontifice (“For electing the new pope”) in St. Peter’s Basilica.

    Cardinals then had a break for lunch and rest before making a formal procession from the Vatican’s Pauline Chapel into the Sistine Chapel, where they swore a collective and individual oath of secrecy.

    An extra omnes command was then given ordering all of the “extras”, or those present but not voting in the conclave, to leave, and the doors of the Sistine Chapel were closed, signaling the official start of the conclave.

    There were likely many reasons for the delay around the first ballot, including the fact that before voting began, former papal preacher Italian Cardinal Raniero Cantalamessa, 90, gave a reflection to cardinals that lasted around 45 minutes.

    Afterward, there was presumably an explanation of the voting process for cardinals unfamiliar with the process, and potentially in different languages.

    Once the vote began, each of the 133 cardinals went up to place their slip of paper containing the name of their candidate into an urn set up in front of Michaelangelo’s Last Judgement. Votes then had to be counted and recounted to verify the numbers.

    For a conclave with more electors than the previous conclaves of 2005 and 2013, 80 per cent of whom were named by Pope Francis and thus have never participated in a conclave, the delay was unusual, but not concerning.

    Many cardinals appointed by Pope Francis also come from remote and faraway countries and do not know Italian, the official working language of the Holy See, meaning it might have taken longer to explain the process.

    Meanwhile, the streets outside of the Vatican were packed with faithful, tourists and spectators hoping to see the first “smoke” of the conclave – the moment white or black smoke comes pouring out of the chimney of the Sistine Chapel with the burning of the ballots for that voting session.

    Black smoke, colored with sulfur to make it dark, means no pope has been elected, whereas white smoke indicates the cardinals have selected a new pope, who reached a two-thirds majority vote – in this case, 89 of the 133.

    Only one voting session was held Wednesday; however, from Thursday onward there will be four voting sessions a day, two in the morning and two in the evening, until a pope is elected.

    While previous conclaves in 2005 and 2013 were relatively short, resulting in a pope after just two days, this one is expected to last longer, as there are more cardinals voting, and thus more options and opinions about the right candidate.

    Many cardinal-electors were unknown to one another prior to coming to Rome for Pope Francis’s funeral and the conclave process, meaning it could take longer to identify candidates and reach a consensus.

    RELATED: Could this be the longest conclave in modern history?

    Photo: The Sistine Chapel inside Vatican City is set up for the conclave that will elect the next pope after the death of Pope Francis, Vatican, 6 May 2025. (Credit: Vatican Media.)

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    The post Unusually late black smoke signal follows sermon with its own signals for conclave first appeared on Catholic Herald.

    The post Unusually late black smoke signal follows sermon with its own signals for conclave appeared first on Catholic Herald.
    https://thecatholicherald.com/unusually-late-black-smoke-signal-follows-sermon-with-its-own-signals-for-conclave/
  36. Site: Real Investment Advice
    How to Navigate Required Minimum Distributions (RMDs) and Minimize Taxes in Retirement
    2 days 2 hours ago
    Author: RIA Team

    Required Minimum Distributions (RMDs) are an unavoidable part of retirement planning for many Americans. While they are designed to ensure retirees eventually pay taxes on their tax-deferred retirement savings, RMDs can also trigger unintended tax burdens if not planned for […]

    The post How to Navigate Required Minimum Distributions (RMDs) and Minimize Taxes in Retirement appeared first on RIA.
    https://realinvestmentadvice.com/resources/blog/managing-rmd-withdrawals/
  37. Site: Real Investment Advice
    Market Is Tepid Over China Developments: Three Conclusions
    2 days 2 hours ago
    Author: RIA Team

    “BREAKING: Treasury Secretary Scott Bessent says he will meet with Chinese officials in Switzerland to begin trade talks with China.” A month ago, when markets were grossly oversold, news of trade discussions between China and the US would have sent […]

    The post Market Is Tepid Over China Developments: Three Conclusions appeared first on RIA.
    https://realinvestmentadvice.com/resources/blog/market-is-tepid-over-china-developments-three-conclusions/
  38. Site: Crisis Magazine
    Make Straight the Way
    2 days 3 hours ago
    Author: Sheryl Collmer

    It is so much easier to destroy than to build. It takes barely a second and hardly any effort to tear something down; it requires no imagination, dedication, or moral perseverance. Watch a young child carefully build a crenellated castle out of blocks, an all-day labor of love, then proudly display his work to his parents. Watch another child eye the enjoyment and casually kick the castle down…

    Source
    https://crisismagazine.com/opinion/make-straight-the-way
  39. Site: Fr. Z's Blog
    DURING A CONCLAVE! 8 May – Indulgence for the Supplication to Our Lady of Pompeii (twice a year)
    2 days 3 hours ago
    Author: frz@wdtprs.com (Fr. John Zuhlsdorf)
    This year the 8 May Supplica to Our Lady of Pompeii has fallen during the FIRST FULL DAY OF A CONCLAVE. It is often recited at 1200 Noon. Perhaps you would say it for a good result from the Conclave. … Read More →
    https://wdtprs.com/2025/05/during-a-conclave-8-may-indulgence-for-the-supplication-to-our-lady-of-pompeii-twice-a-year/
  40. Site: Crisis Magazine
    The Field Hospital Needs Doctors
    2 days 3 hours ago
    Author: Anthony Esolen

    Much has been said about the mercy of the late Pope Francis, as compared with the supposed rigidity of his two immediate predecessors. I will not draw comparisons here, nor will I pretend to judge these men on their merits. I wish to use the occasion to specify what work a moral teacher must do and its relation to mercy. I like doctors who have good bedside manner. But I don’t hire a doctor for…

    Source
    https://crisismagazine.com/opinion/the-field-hospital-needs-doctors
  41. Site: Mises Institute
    Autos Used vehicle pricing barometer jumps to highest level since 2023 amid auto tariffs
    2 days 3 hours ago
    To be sure there are probably two factors at work here. One is tariffs and the other is the fact that auto loan delinquencies are rising and people need cheaper cars.
    https://mises.org/notes-margin/autos-used-vehicle-pricing-barometer-jumps-highest-level-2023-amid-auto-tariffs
  42. Site: Zero Hedge
    Thousands Of Unexploded Israeli Bombs In Gaza Provide Hamas With Weapons
    2 days 3 hours ago
    Author: Tyler Durden
    Thousands Of Unexploded Israeli Bombs In Gaza Provide Hamas With Weapons

    Authored by Kyle Anzalone via The Libertarian Institute

    Hamas is using some of the thousands of unexploded bombs that now litter Gaza as weapons against the invading Israeli forces. Most Hamas munitions are created from cannibalizing dud bombs dropped by Israel.

    According to Israeli media, the country’s military estimated early this year that there were at least 3,000 unexploded bombs in Gaza. An Israeli officer explained that the munitions will be used by Hamas. “The situation we’ve reached is not normal. Tens of tons of explosives are lying in Gaza, waiting for Hamas,” they said.

    The true number of unexploded bombs could be higher. The IDF has dropped about 40,000 bombs on Gaza since October 7, 2023. A typical dud rate is 10%; however, the Israeli military still uses some Vietnam-era missiles that could push the rate of bombs that fail to explode to 20%.

    Haaretz estimates that the value of unexploded bombs is in the tens of millions of dollars.

    A former Israeli official explained to The New York Times in January 2024 that Hamas makes most of their munitions from bombs dropped on Gaza that do not detonate.

    “Unexploded ordnance is a main source of explosives for Hamas,” said Michael Cardash, the former deputy head of the Israeli National Police Bomb Disposal Division and an Israeli police consultant. “They are cutting open bombs from Israel, artillery bombs from Israel, and a lot of them are being used, of course, and repurposed for their explosives and rockets.”

    The armed wing of Hamas, the al-Qassam Brigades, has teams trained to recover the unexploded bombs, including 2,000-pound weapons. It also has the ability to break down the Israeli munitions and repurpose them as rockets, RPGs, and IEDs.

    Salvaged Israeli bombs have been turned into lethal munitions by Hamas since October 7. In December 2023, remnants of an unexploded Israeli bomb were used to kill 10 soldiers, while Haaretz reports that in January, an IDF tank was destroyed by a Hamas IED created from an undetonated bomb.

    While Israel has laid waste to the Strip over the past 19 months, US and Israeli intelligence have acknowledged that Hamas has retained most of its tunnel network and has recruited at least as many fighters as it has lost.

    Tel Aviv recently announced a mass call-up of its reserve forces and expanded military operations in Gaza to the full occupation of the territory.

    Tyler Durden Thu, 05/08/2025 - 05:00
    https://www.zerohedge.com/geopolitical/thousands-unexploded-israeli-bombs-gaza-provide-hamas-weapons
  43. Site: Fr. Z's Blog
    Catholic school staged an educational monk Conclave
    2 days 3 hours ago
    Author: frz@wdtprs.com (Fr. John Zuhlsdorf)
    I’ve been sitting on these for a couple of days but this is a good time to post them. A priest reader here sent photos and links to video of the St. Lawrence parish school’s “conclave”. Father wrote: Fr. Hollowell … Read More →
    https://wdtprs.com/2025/05/catholic-school-staged-an-educational-monk-conclave/
  44. Site: Mises Institute
    California's Bullet-Train Delusion
    2 days 3 hours ago
    Author: Ryan McMaken, William P. Anderson
    California economist and resident/victim William Anderson joins us to talk about the absurdity of California's bullet train plan, and how it ignores economic realities.
    https://mises.org/podcasts/radio-rothbard/californias-bullet-train-delusion
  45. Site: Zero Hedge
    Another US Fighter Jet Destroyed In The Red Sea
    2 days 4 hours ago
    Author: Tyler Durden
    Another US Fighter Jet Destroyed In The Red Sea

    Another $60 million US Navy fighter jet has been 'lost at sea' - this time during a crash landing as the aircraft was trying to land on the USS Harry S. Truman aircraft carrier.

    This marks the second F/A-18 Super Hornet fighter jet which has been destroyed aboard the Truman in just over a week.

    US Navy image

    The first Super Hornet reportedly fell overboard late last month while the Truma took a hard turn amid inbound Houthi fire, in a strange incident which could just be a Pentagon cover story.

    But as for the second incident, first reported Tuesday night (local US time), CNN writes that "It is not entirely clear what happened yet, as the investigation is ongoing, but two of the people said there was some kind of arrestment failure as the jet was trying to land on the carrier and the pilot and weapons systems officer had to eject."

    "They were recovered by a rescue helicopter and are both alive, but they suffered minor injuries, one of the people said," the report continues.

    Amid the apparent systems failure the aircraft went overboard. "The arrestment failed, causing the aircraft to go overboard. Both aviators safely ejected and were rescued by a helicopter assigned to Helicopter Sea Combat Squadron 11," a defense official described. "The aviators were evaluated by medical personnel and assessed to have minor injuries. No flight deck personnel were injured."

    US Naval Institute News further details:

    It’s unclear if the arresting wire that stops the aircraft during the carrier landing failed or if the hook on the fighter didn’t catch the wire. It’s also unclear whether the incident fouled the flight deck, interrupting flight operations. As of Tuesday evening, Truman was fully operational, the defense official said.

    In total three jets have been recently lost in the Red Sea:

    And in December, the missile cruiser USS Gettysburg, part of the Truman's strike group, shot down a Super Hornet in what the US military described as "an apparent case of friendly fire." Both aviators ejected safely.

    The Houthis had since Red Sea hostilities were renewed in mid-March (in the wake of the Gaza ceasefire collapsing), sent drones and missiles against US warships off Yemen's coast, particularly the Truman carrier.

    This week Israel has joined the US-led coalition's bombing campaign against the Houthis in Yemen. Israeli jets obliterated Sanaa International Airport, in an operation described as retaliation for the Sunday ballistic missile attack on Ben Gurion International Airport in Tel Aviv.

    The timing of this second jet loss incident is interesting, given it was revealed the same day that President Donald Trump announced the US would stop strikes against the Houthis.

    1/2
    The USS Harry S. Truman appears to have performed an emergency turn on April 27th to evade a large-scale Yemeni missile and drone attack. The maneuver was so severe it could have caused the loss of the Super Hornet.

    If true, this indicates that: pic.twitter.com/MMIDOpcZdw

    — Alan (@Alan39982121) April 28, 2025

    The Houthis have confirmed there will be a ceasefire in the Red Sea with the United States. The deal was mediated by Oman, and this looks like a 'mission accomplished' moment for Trump where he's ready to grasp onto a way out of the quagmire the US found itself in. Wisely, he is getting the US out, and Israel appears to be stepping up in terms of its own defense.

    Mideast war correspondent Elijah Magnier has concluded, "The US intelligently stopped the bombing on Yemen due to the lack of objectives, the empty outcome and the high cost versus no gain." 

    Tyler Durden Thu, 05/08/2025 - 04:15
    https://www.zerohedge.com/geopolitical/another-us-fighter-jet-destroyed-red-sea
  46. Site: AsiaNews.it
    ​The Eternal Alphabet Dispute in Central Asia
    2 days 4 hours ago
    Since the collapse of the USSR, the five former Soviet republics of Central Asia have been debating whether to abandon the Cyrillic alphabet in favour of Latin script. Some argue it more closely reflects the phonetics of Turkic languages, but the issue is entangled with broader calls for 'de-Russification' in the context of the war in Ukraine. Even in Kazakhstan—where Nazarbayev launched the transition with the aim of completing it by 2031—serious doubts remain.
    https://www.asianews.it/news-en/%26%238203%3BThe-Eternal-Alphabet-Dispute-in-Central-Asia-63040.html
  47. Site: AsiaNews.it
    Xi Jinping with 'ally' Putin for Victory Day parade
    2 days 4 hours ago
    Today's news: New missile tests from Pyongyang. According to a study published inThe Lancet, at least 30% of girls (and 13% of boys) in India are victims of sexual abuse before the age of 18;Vietnamese environmentalist back on trial for writing "down with communism"; Tehran welcomes the end of US strikes against the Houthis;Riyadh ready to sign a deal with the United States on mineral exploitation.
    https://www.asianews.it/news-en/Xi-Jinping-with-%27ally%27-Putin-for-Victory-Day-parade-63041.html
  48. Site: Zero Hedge
    Digital Euro: ECB Launches Charm Offensive
    2 days 4 hours ago
    Author: Tyler Durden
    Digital Euro: ECB Launches Charm Offensive

    Submitted by Thomas Kolbe,

    The European Central Bank (ECB) is pushing ahead with the “Digital Euro” project. On a new interaction platform, it is seeking dialogue with banks, startups, fintechs, and retailers. What is being sold as an open discourse is, in truth, calculated camouflage.

    While the economic policy debate has shifted to the trade conflict with the US, things have gone quiet around the digital euro (CBDC). Yet, the ECB recently launched an online interaction platform where merchants and payment service providers can express their opinions about the new payment system. About 70 pre-selected market participants are to test the “ecosystem” of the digital euro in real-world applications and identify problems. The platform enables the testing of new payment services, such as conditional payments or the integration of digital wallets in post offices. Proponents of the project aim to modernize the payment system, granting access to the financial system even to those currently excluded due to their economic situation.

    However, this mainly applies to people in poorer regions of the world-here, the benefit of a digital payment infrastructure, as offered by stablecoins (usually denominated in US dollars), is obvious. The question is whether we should consider something like this for the eurozone. Does the Chinese model of the digital yuan really align with our values, which should balance utility, efficiency, security, and individual sovereignty?

    What is the Digital Euro?

    The digital euro would be a small revolution, leading to a fully centralized form of central bank money. In tokenized form, it could be technically programmed and controlled-each monetary unit could be assigned conditions, each transaction centrally managed. The ECB would then be the sole issuer and operator of central wallets and the entire account infrastructure.

    This raises questions about the future of commercial banks. At best, they could only function as distribution channels-their traditional role as intermediaries in payment transactions would effectively disappear. Lending would then fall into the hands of a largely autonomous central entity, which, needless to say, would be synchronized with the European Union’s objectives. According to its own statements, the ECB aims to develop the digital euro as a “secure, free-of-charge, and privacy-friendly means of payment” that, as is claimed in Frankfurt, is only intended to supplement the use of cash.

    Such assurances from the ECB are nothing new, and so the launch of the interaction platform should be interpreted as a media charm offensive-or better: as a kind of transparency simulation that distracts from the real problems of this technology. Participants are pre-selected service providers whose expertise is indispensable for system design and procedural processes. Direct attacks on the monetary sovereignty of individuals or the separation of state and monetary system are not addressed on the platform. A public vote on the future of cash in the eurozone seems more unlikely than ever.

    The Current State

    Since November 2023, the European Central Bank has been in a two-year preparatory phase. By October or November of this year, technical foundations, data protection requirements, and initial tests are to be completed. The recently launched interaction platform, where citizens, merchants, and payment service providers can participate, is part of this process. Technically, the ECB is clearly oriented towards existing stablecoin models, where transactions are fast, secure, and free of charge. ECB President Christine Lagarde had already suggested in March that the digital euro could be introduced as early as October 2025.

    But as so often with large-scale EU projects, this timeline seems overambitious and born out of haste. The challenge lies not only in technical complexity-billions of transactions are processed daily via existing systems-but also in the sensitive interplay between the central bank, commercial banks, retailers, and consumers. The overhaul is like trying to move a monolith by hand: massive, sluggish, risky.

    Furthermore, the security architecture of the digital euro remains largely in the dark. Given the real threat of targeted attacks from the international hacker scene, this reticence is remarkable-real dangers, as well as fundamental systemic criticism, are ignored.

    The Leviathan-Thoughts on the Background of CBDC

    The digital euro is not a neutral means of payment. It is a tool of power. The ECB is no longer positioning itself merely as a central bank but as the central technological infrastructure operator for payments in Europe. For the first time, it would have direct access to the entire monetary infrastructure of the eurozone-from payment flows to account management and even to the potential control of individual monetary units. The digital euro would give the ECB not only more insight into financial activity but also far-reaching intervention and control possibilities over the financial system-with significant political and social implications.

    As a largely autonomous entity, the European Central Bank has evaded democratic control since its inception. Even during the last sovereign debt crisis 15 years ago, it managed to massively expand its real-world powers by buying up government bonds on a large scale and thus effectively beginning to monetize government debt. The planned introduction of a digital euro would further cement this immediate power-with potentially profound consequences for the balance between monetary sovereignty, fiscal responsibility, and democratic legitimacy.

    Why the Rush?

    Against this backdrop, a central question arises: Why is the ECB pushing for the introduction of a digital euro right now? The eurozone has been stuck in a structural economic and debt crisis for some time. Germany’s economy, traditionally the EU’s anchor of stability, is in its third year of a persistent recession. At the same time, many southern European countries have long since lost control over their national debt.

    Amid this fragile situation, the ECB is increasing the pressure to implement digital central bank money-a step that is not only technocratically motivated but also aims to deeply reshape the architecture of the European financial system. France, with a national debt of 120%, and Italy, with 140%, will not be able to escape the debt spiral without massive monetary interventions-the ECB is firmly planned as the “lender of last resort” in the capitals of the eurozone. Massive credit injections and yield curve control seem to be the only way out of this dilemma. A sovereign default is not an option, as it would mean the end of the entire eurozone.

    The Greek crisis is a reminder. However, the mountain of debt in the eurozone has continued to rise to 95%. Bringing it under control in the event of a debt crisis would be much more complicated. The necessary expansion of the credit base to rescue over-indebted states would be so massive that investors would question the stability of the currency. In such a scenario, the digital euro would not be a neutral means of payment but a tool for market closure-with programmable transactions that could nip any capital flight in the bud.

    The digital euro thus mutates into an electronic bolt: the ECB raises the drawbridges of the EU fortress to prevent a flight from the system and thus the collapse of the euro.

    Consequences and Outlook

    What is obviously underestimated in the Frankfurt ECB Tower is the speed at which mobile capital moves today. It is to be expected that the already beginning capital flight from the eurozone will accelerate dramatically-precisely at the moment when rumors spread in European financial centers that the ECB wants to close the gates with the help of a digital euro.

    Given the political movement in the United States against CBDCs and the clear rejection of this technology by the Federal Reserve, there is a danger that Europe, especially the eurozone, will isolate itself through the ECB’s initiative. Unlike the United States, which is currently pursuing deregulation and free-market policies, the euro CBDC appears as a digital panopticon: a central authority that monitors everything, controls everything, and reserves the right to intervene at its discretion. An opaque monster that directly threatens the sovereignty of the citizen.

    With the digital euro, the ECB is not only planning the creation of a new means of payment. We are witnessing an attempt to radically change the way we handle money. 

    What is being touted as a convenient, cashless payment option could turn out to be a Trojan horse for deep control of the financial system and the individual citizen. Unfortunately, the new interaction platform does not offer the opportunity to discuss these thoughts in detail.

    Tyler Durden Thu, 05/08/2025 - 03:30
    https://www.zerohedge.com/crypto/digital-euro-ecb-launches-charm-offensive
  49. Site: Mises Institute
    Some Straight Talk to the Anti-Free Traders
    2 days 5 hours ago
    Author: Patrick Barron
    Oh, I know, you aren’t really against free trade per se. You just demand a “level playing field.” Demanding a level playing field for international trade is a complete waste of time.
    https://mises.org/power-market/some-straight-talk-anti-free-traders
  50. Site: Zero Hedge
    Von der Leyen Calls On EU To Hasten Ukrainian Entry As Blow To Putin
    2 days 5 hours ago
    Author: Tyler Durden
    Von der Leyen Calls On EU To Hasten Ukrainian Entry As Blow To Putin

    European Commission President Ursula von der Leyen is calling for the fast-tracking of EU accession talks for Ukraine, though we can imagine quietly behind the scenes other European officials aren't looking forward to the day that one of the world's most corrupt countries joins the bloc.

    Speaking at a Europe Day event on Wednesday, von der Leyen urged for the process to start this year, in 2025, in order to "help Ukraine stand strong" and "defy Putin’s intimidations" - according to a readout.

    "Today, I would like to focus on how we can do so, and on three priorities for our action," she said. "First, support Ukraine’s defense. Second, complete the phase-out of Russian fossil fuels. And third, accelerate Ukraine’s accession path to our Union."

    She then emphasized that Brussels is "working hard with Ukraine to open the first cluster of accession talks, and to open all clusters in 2025."

    The Kremlin last year said that it is open to Ukraine joining the EU, but stressed that the question of joining NATO remains an impossibility, and that Moscow will never allow it.

    Still, at around same time the EU question was raised, Foreign Minister Sergey Lavrov had asserted that the EU itself, which is supposed to be a purely economic and politically-linked bloc, is "becoming militarized at a record pace."

    Meanwhile, the European Union has of late seemed much more open about its willingness to sabotage Trump efforts toward achieving peace in Ukraine. 

    The EU's top diplomat Kaja Kallas last week told the Financial Times in an interview that the bloc will not recognize Russia's annexation of Crimea under any circumstances. Really, this should be the most obvious and 'easiest' concession to make, but alas Brussels is saying no!

    The White House is seeking to pressure the Zelensky government to get to the negotiating table fast, and the quickest and easiest concession would be expected to center on letting go of Crimea, which Moscow declared part of the Russian Federation after a 2014 popular referendum.

    "I can’t see that we are accepting these kind of things. But we can’t speak for America, of course, and what they will do," Kallas had said. "On the European side, we have said this over and over again... Crimea is Ukraine."

    "There are tools in the Americans’ hands that they can use to put the pressure on Russia to really stop this war," Kallas continued. "President Trump has said that he wants the killing to stop. He should put the pressure on the one who is doing the killing."

    This has basically been the Ukrainian government's position all along as well. For this reason, she said Brussels and other European capitals are still focused on "working with the Americans and trying to convince them why the outcome of this war is also in their interest, that Russia doesn’t really get everything that it wants." But again, Crimea should be the easiest issue.

    Tyler Durden Thu, 05/08/2025 - 02:45
    https://www.zerohedge.com/geopolitical/von-der-leyen-calls-eu-hasten-ukrainian-entry-blow-putin

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