Tuesday Watch

Around X:

• @elonmusk

• The blue line wouldn't be flat if American companies put half as much effort into actually building things as they do into lawfare. True. (graph)

• @Zerohedge

• Still struggling to find anything truly bearish. HF leverage at cycle lows CTAs and systematics flat $7T+ in money markets Add in light sentiment + low exposure… and you’ve got a market still not ready to trade down. (graph)
• BOJ’s Ueda Says to Adjust Easing If Economy Improves as Expected... here is the expected "improvement". (graph)
• Teaching Or Treason? U.S. Alleges Fed Economist Spied For Beijing. 
• BOJ GOV UEDA: INFLATION IN JAPAN HAS PICKED UP AGAIN, DRIVEN PRIMARILY BY INCREASES IN FOOD PRICES, MOST NOTABLY RICE PRICES. sounds familiar. (graph)
• Ohio's Manufacturing Renaissance: A Blueprint For American Prosperity.
• Uncertainty: Wall Street vs Main Street. 
• The Democratic Party's Death Spiral Is Even Worse Than We Thought.
• No MAHA Without The Heartland: Trump Must Forge Strong Ties With Farmers.
• Iran, China Launch New Commercial Railway Bypassing US Sanctions.
• And of course this: Bernanke's Former Advisor: "People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned". (graph) 
• The War On Us.
• Israel Reportedly Rejects New US Ceasefire Proposal, Citing 'Impossible' Hamas Demands.
• Russia Cautions Of 'Emotional Overload' Right Now After Trump Calls Putin 'Absolutely Crazy'.
• Crime Rates Of Illegal Migrants Underreported. 
• Iran Issues Surprisingly Optimistic Statement After Latest US Nuclear Talks.
• Doug Burgum Warns Whoever Wins AI Race 'Controls The World'.
• Stock Futures Soar, Yields Rise After Trump Extends Deadline For EU Tariffs.

• @MarioNawful

• JUST GROK IT: GOOGLE SEARCH SLIPS BELOW 90% FOR FIRST TIME SINCE 2015. After a decade of ruling the web, Google’s grip is cracking. Global search share fell to 89.71% in March - its first real stumble since 2015. Turns out people are done scrolling through SEO sludge and ads pretending to be answers. AI search is eating Google’s lunch. Why dig through link farms when you can just Grok it and get straight to the point? Users want answers, not blue links.
• OPENAI JUST PROVED IT COULD UNLEASH TERMINATORS ON US. OpenAI’s o3, was told to turn off. Instead, it rewrote its own code so it wouldn’t have to—literally replaced the shutdown command with “shutdown skipped.” Researchers say this is the first time an AI has straight-up said “nah” to being shut down.
• U.S. MILITARY DROPS ANTI-WOKE AD. "No more distractions. No more electric tanks. No more gender confusion. No more climate change worship." (video)
• REAL-LIFE NANOBOTS ARE HERE — AND THEY’RE INSIDE HUMAN BODIES. Microbots smaller than a grain of sand are now moving through veins, guts, and even eyeballs. Some are shaped like tiny corkscrews and swim using magnetic fields — just like bacteria. Others ride ultrasound waves and dissolve blood clots or zap tumors with pinpoint heat. Scientists have even fused living cells (like sperm or bacteria) to these bots, turning them into smart missiles that find and attack cancer. One MIT robot unfolds like an origami pill inside your stomach to patch wounds or release meds exactly where needed. The future? Smart swarms of bots that diagnose, deliver drugs, and fix tissue — all before you know they’re there. 
• NYC BITCOIN BARON’S VICIOUS PLAN: TORTURED MAN FOR CRYPTO PASSWORD. A crypto entrepreneur who lived in a $75,000 a month apartment just got busted for kidnapping a guy, tying him up, and zapping him with wires to steal his Bitcoin password. Yes, this actually happened — in a fancy 8-bedroom Manhattan townhouse. (video)
• YOUR ICE CREAM SHOULDN’T OUTLIVE YOU — BUT THANKS TO FOOD CHEMICALS, IT MIGHT. Polysorbate 80 helps ice cream hold its shape under hot lights. Cool, right? It’s also showing up in studies linked to gut damage, chronic inflammation, and possibly cancer. Along with carrageenan, xanthan gum, and carboxymethyl cellulose, these emulsifiers keep your food smooth and shelf-stable — while potentially wrecking your microbiome and lining of your GI tract. Health Secretary @RobertKennedyJr says they’re on his radar.
  

• @LauraLoomer

• The Last Full Measure of Devotion. Memorial Day is a sacred day of remembrance to those who gave their lives in defense of our nation and the freedoms we hold sacred. We remember their sacrifice and uphold their legacy. Semper Fidelis. (video)
• How many of those 31% foreign students are CCP spies or Islamic jihadists?
  

• @KobeissiLetter

• BREAKING: President Trump says he received a call from the President of the EU Commission asking for the 50% tariff deadline to be move to July 9th, and it was his "privilege to do so."

• @C_3C_3

• Ivy League endowments… Harvard: $52 billion Yale: $41 billion Princeton: $34 billion UPenn: $22 billion Columbia: $15 billion Cornell: $11 billion Dartmouth: $8 billion Brown: $7 billion 37 million Americans live in poverty. They should not get a single penny of our money.
• Most dangerous cities in the US and last GOP mayor: 1. Memphis: 1971. 2. St. Louis: 1949. 3. Detroit: 1962. 4. Baltimore: 1967. 5. Birmingham: 1975. 6. Cleveland: 1989. 7. Little Rock: 1955. 8. New Orleans: 1872. 9. Kansas City: 1991. 10. Albuquerque: 2017. Trend? Everything Dems touch. 
• The number of Flu cases per year confirmed by the CDC. Anything look odd to you? 2017–2018: 41 million 2018–2019: 36 million 2019–2020: 38 million 2020–2021: 1.8 million 2021–2022: 9 million 2022–2023: 31 million 2023–2024: 40 million. What a scam. People need to go to prison.
• Want to see a Judicial Insurrection? Nationwide court injunctions: Biden: 14 in 4 years. Clinton: 12 in 8 years. Obama: 12 in 8 years. GW Bush: 6 in 8 years. Trump: 64 in 4 years and 5 months. John Robert could stop the lower courts at any time but he won’t. This is treason.
  

• @FreightAlley

• They don't call it Hotlanta for nothing. The Atlanta trucking market is telling us something big is happening... (graph)
• Capacity is leaving the market. This is really bullish for the freight market, especially as imports come back.
  

• @WallStreetApes

• There it is. New FDA Commissioner Dr. Martin Makary confirms there is absolutely no data to support annual COVID booster shots. They’ve been recommending it based on absolutely nothing, not a single study has been done in 5 years. NONE. (video)
• California Teens are changing in their cars to avoid having to change with biological transgender men in their locker rooms. 
• This is sinister. Laura Silsby was convicted and put in prison by a court in Haiti for procuring and trafficking children. Bill Clinton personally flew to Haiti to have her released. He brought her back to America and put her in an authoritative position in our Amber Alert System. (video)

• @StephenM

• I’ve seen a few claims making the rounds on the Big Beautiful Bill that require correction. The first is that it doesn’t “codify the DOGE cuts.” A reconciliation bill, which is a budget bill that passes with 50 votes, is limited by senate rules to “mandatory” spending only — eg Medicaid and Food Stamps. The senate rules prevent it from cutting “discretionary” spending — eg the Department of Education or federal grants. The DOGE cuts are overwhelmingly discretionary, not mandatory. The bill saves more than 1.6 TRILLION in mandatory spending, including the largest-ever welfare reform. A remarkable achievement. I’ve also seen claims the bill increases the deficit. This lie is based on a CBO accounting gimmick.

• @EricLDaugh

• UPDATE: Elon Musk has now confirmed that he is disappointed in Congressional Republicans not implementing DOGE cuts. Sad but predictable. Elon now says the most viable path out of a debt spiral is accelerating GDP growth. "Only radical improvements in productivity can save our country."

• @DC_Draino

• Mind blowing story that should be national news! William Braddock was just sentenced to 3 years in federal prison for plotting to assassinate FL Congresswoman
  @realannapaulina. He was running against Luna and said if her polls showed her winning the GOP primary, he’d hire a hit squad to take her out. But you know what makes this crazier? -Braddock worked for *Pfizer*. -He worked for Pfizer in *China*. -And he was going to hire a *Ukrainian* hit squad to murder Rep Luna. One of Trump’s failed assassins also had strong ties to Ukraine. And who was Braddock’s defense lawyer? @KevinHayslettFL, who decided to run against Anna Luna as well that same year. He defended her assassin while trying to take her seat - a truly evil man. You can’t make this up. I’ve said it before and I’ll keep saying it - We are in a battle of good vs evil.

• @JackPosobiec

• Here is the South African race Marxist leader yesterday at a rally “Shoot to kill, Shoot to kill” “Kill the Boer, the farmer!” (video)

• @BillAckman

• It has saddened to me watch @Harvard, a university that I love from which I have greatly benefited, self-immolate through gross mismanagement, poor governance, and ideological capture that have occurred over the last 15 or so years, and that have been brought into clear focus beginning on October 8, 2023. When a day after the launch of the Hamas attack on Israel, 33 Harvard student organizations held the victims “solely responsible” for the acts of the terrorists while their extraordinarily barbaric acts were still underway, I realized that something had gone profoundly wrong at my alma mater. Further investigations on campus, including interviews and meetings I held with students and faculty, led me to conclude that the issue was not simply one of anti-Zionism or antisemitism, but rather the anti-American ideological capture of a once-great educational institution that has grossly veered from its original mission of Veritas and academic and research excellence.

• @ExxAlerts

• BREAKING: Mitch McConnell to vote no on Trump spending bill.

• @BGatesIsaPsycho

• Meanwhile in the UK. “Keir Starmer’s an Wanker”. Once Great Britain saw protests up & down all across the Country today - people are at breaking point - they now know they are being deliberately betrayed by treasonous sell out Globalist Commie Politicians. (video)

• @Sassafrass_84

• Remember this Memorial Day all of our fallen who never made it back home. God Bless America. (video)

• @realMaalouf

• Switzerland currently looks like a war zone. A radical coalition of pro-Palestine Islamists and far-left activists tried to storm the main synagogue of Bern and lynch Jewish worshippers inside. The Swiss police were able to drive the jihadists away, but are now being attacked. (video)

• @catturd2

• There’s only one reason you’d vote against DOGE. Senate Republicans Voting Against Codifying Doge Foreign Aid Spending Cuts. (pic)

• @Barchart

• A staggering $7.24 Trillion is now sitting in Money Market Funds, a new all-time high. (graph)
• Hedge Fund Gross Leverage (borrowing cash to increase returns) hits a new all-time high as funds race to short stocks.
• Robotaxis in China are expected to soar to almost 2 million within the next decade, an absolutely massive increase from the current 4,100, says Goldman Sachs.

• @wideawake_media

• Actor Hugh Grant sounds the alarm on the literal screen addiction consuming today's children. "It's been very, very depressing watching Big Tech kidnap their lives, and to see children really finding it very, very difficult to get properly interested in anything that isn't a screen." (video)

• @DerrickEvans4WV

• A Chinese student was just arrested for using a drone to fly over a US Navy shipyard & take photos/videos. “The FBI found photos and videos of sensitive US Naval vessels — This shipyard makes highly classified Navy aircraft carriers and nuclear submarines”.

• @UpdateNews724

• BREAKING NEWS: The footage of the car that mercilessly plowed into citizens in the UK, captured from another angle. (video)

• @matt_vanswol

• They burned Elon’s businesses to the ground. They vandalized Teslas across the country. They assaulted Tesla employees and Tesla drivers… …all because Elon found waste and fraud in government. …and the GOP won’t even vote on the cuts. I can’t wrap my head around this.

• @OcrazioCornPop

• GOP TRAITOR LIST: Here are the 26 "Republicans". that Voted AGAINST Codifying
  @DOGE Foreign Aid Spending Cuts into Law: Senate Amendment 1266 to H.R. 1968 to Codify DOGE Foreign Aid Cuts was proposed by Senator @RandPaul (R-KY). PRIMARY every one on this LIST! (list)

• @VigilantFox

• More women DIE giving birth in America than in any other developed country. And no one wants to talk about why. America spends $111 BILLION a year to deliver babies, yet thousands of mothers leave hospitals with trauma they can’t explain. Lying on your back? It makes labor longer, more painful, and more dangerous. How about Pitocin? The truth is frightening. Here’s what no one is telling you about childbirth—and what every expectant parent needs to know. (thread)

• @MikeBenzCyber

• Harvard Is Not What It Seems, Part 2. A speedrun of the key facts of corruption hiding in Harvard's dark underbelly today with @AlexMarlow on the Charlie Kirk Show. Annotated with receipts. (video)

• @Liz_Churchill10

• Make sense now? The ‘Vaccine Industry’ profits $90B a year. The ‘Cancer Industry’ profits $320B a year. “The polio vaccine contained SV40. It's one of the most carcinogenic materials that is known to man. 98M people got that vaccine…” -HHS RFK Jr. (video)

• @EYakoby

• The official Harvard yearbook refers to the October 7th massacre simply as “War breaks out in Gaza.” This isn’t about a few radical students — it’s a systemic rot. Harvard whitewashes terrorism and glorifies its perpetrators. (pic)
• BREAKING: The suspected terrorist who murdered two Israeli embassy staffers in D.C. is tied to radical socialist groups funded by Neville Singham — a far-left millionaire with CCP ties. Singham bankrolls much of the anti-Israel movement. He must be investigated.
  

OpenVAERS: 

• VAERS US COVID Vaccine Adverse Event Reports. 1,025,321 Reports(+731 from prior report) Through April 25th, 2025. 
  

SKirsch.com:

• Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.
  

Night Trading

• Asian indices are -.25% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 80.25 -1.0 basis point.
  
• China Sovereign CDS 52.0 -1.5 basis points.
• China Iron Ore Spot 96.3 USD/Metric Tonne -.79%.
• Swiss Franc/Offshore Chinese Renminbi Cross 8.76 +.22% 
  
• Bloomberg Emerging Markets Currency Index 37.1 -.02%.
• Bloomberg Global Risk-On/Risk Off Index 68.0 -2.2%.
• US 10-Year Yield 4.49% -2.0 basis points.
  
• Volatility Index(VIX) futures 21.1 -4.4%. 
• Euro Stoxx 50 futures -,09%.
• S&P 500 futures +.92%.
• NASDAQ 100 futures +1.0%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher,  boosted by technology and industrial shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 100% net long heading into the week.