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Thu, Aug 13, 2026

ZeroHedge

Residents Storm City Council In Texas Over Islamic Center Approval

Residents Storm City Council In Texas Over Islamic Center Approval


Authored by Steve Watson via Modernity News,

Outrage is boiling in North Texas after the McKinney City Council voted 7-0 to greenlight a major new Islamic center complex, brushing aside hours of public testimony that included a direct warning from an Iranian Christian who fled Sharia law.

Citizens packed City Hall for a marathon session that stretched past midnight. More than 150 people signed up to speak. The approved site plan covers roughly 5.5 acres at Virginia Parkway and Crutcher Crossing. It includes a 15,000-square-foot sanctuary, a 10,000-square-foot classroom building, and a 7,000-square-foot gym for the McKinney Islamic Association, which says its existing facility has been outgrown.

City staff insisted the revised plan met every zoning requirement with no variances, leaving the council little legal room to deny it. Council members framed the vote as purely procedural. Residents who showed up in force saw something far larger at stake.

A Modest Proposal: Performance Reviews For Senators

A Modest Proposal: Performance Reviews For Senators


Authored by Frank Miele via RealClearPolitics,

It seems as though only one thing motivates Congress to act - the threat of elections.

That's why both the House and Senate have moved to pass a continuing resolution to keep funding the government until December. Originally funding was going to run out on Oct. 1, the date that was decided during the last shutdown crisis.

But with virtually every member of the House of Representatives and one-third of the Senate up for election in November, almost no one in Congress wanted to call attention to their own inaction by letting a new shutdown occur.

It's the political version of Pavlov's dogs. You know, the famous experiment by the Russian scientist Ivan Pavlov who trained canines to salivate at the sound of a bell because they associated the bell with the expectation of food being served.

The same thing happens with members of Congress when they hear that an election is scheduled within the next three months. Suddenly they want to be productive.

A representative can ignore constituents for 22 months and then suddenly rediscover them during the last two. And

US Existing Home Sales Disappoint (Again) In July, Hover Near Record Lows

US Existing Home Sales Disappoint (Again) In July, Hover Near Record Lows


With mortgage rates rising and the 'low hire, no fire' economy leaving many anxious about their household finances, the ugly spring selling season has not been followed by a consistent rebound in existing home sales in the US.

After falling 1.4% MoM in June (revised up from a 2.4% MoM decline), US existing home sales fell again -1.7% MoM in July (worse than the -1.0% MoM exp). This dragged the annual increase in sales down to just 0.74% YoY...

Overall, existing home sales SAAR is holding very modestly off record lows, holding just above the 4 million mark...

"Home sales have been remarkably stable, even amid the rising mortgage rate environment of the past few months," Lawrence Yun, NAR chief economist, said in a statement.

He added that "there's no doubt that the housing market would be thriving if average mortgage rates were to return near 6%."

In recent months, home-financing costs and prices went in the wrong direction. Thirty-year mortgage rates have been climbing since the late-February start of the war in Iran, and recently

"Niceness As Whiteness": Professors Denounce Politeness As Privilege

"Niceness As Whiteness": Professors Denounce Politeness As Privilege


Authored by Jonathan Turley,

We have previously discussed how many professors seem to compete in finding new forms of racism in every facet of society and education.

Astrophysics, math, runoffs, science, statistics, and meritocracy have all been denounced as racist. In this academic cottage industry, professors secure publications and speaking opportunities by identifying racism in the expressions, images, or entire fields. Even time itself has been declared racist.

Now, however, academics have found another undiscovered continent of white privilege: niceness.

When I saw a story in The College Fix on a study of "niceness as Whiteness," I was skeptical and decided to take a look. The study by Vanderbilt Postdoctoral Research Fellow Abigail Beneke, Professors Benjamin Fisher (U. Wisconsin-Madison), F. Chris Curran (U. Florida), and Samantha Viano (George Mason) was first flagged by Dr. James Nuzzo.

The paper "Niceness as Whiteness in School Police Officers' Perceptions of Student Arrest" addresses the "perceptions of arrest" by school resource officers, or SROs) in two school districts.

The officers appear to be precisely what you are looking for in an SRO: empathetic and reluctant to make arrests. The researchers admit

Wheat Futures Volatile As Black Sea Crisis And Hormuz Chokepoint Spark Concerns

Wheat Futures Volatile As Black Sea Crisis And Hormuz Chokepoint Spark Concerns


Chicago wheat futures are coiling for a breakout (one way or another) as ongoing Russia-Ukraine attacks on Black Sea grain infrastructure and bulk carriers threaten exports from one of the world's most important breadbaskets.

Most-active Chicago wheat has been choppy in the last few days...

Hard red winter wheat gained as much as 2.7% to $7.505 a bushel.

Soft Red Winter wheat futures are poised for a much larger breakout if prices sustain a move above $7 a bushel.

Bloomberg noted Monday that Turkey temporarily suspended Black Sea transits by its cargo ships over the weekend amid ongoing maritime security risks in the critical shipping corridor. Ukraine warned that its agricultural exports for the 2026-27 season could be halved due to Russian attacks.

Joe Davis, director of commodities at brokerage Futures International, was quoted by the outlet as saying that potential supply disruptions had boosted US-grown hard red winter varieties more sharply because the grain is seen as a direct competitor to higher-protein milling wheat from the Black Sea region and Europe.

"While the disruptions don't necessarily

Zelensky Claims North Korea Sending Up To 50K Troops To Russia, Presses Seoul To Send Missiles

Zelensky Claims North Korea Sending Up To 50K Troops To Russia, Presses Seoul To Send Missiles


Ukraine's President Zelensky has in fresh remarks warned North Korea against its deepening involvement with Russian in executing the war against Ukraine.

Zelensky's late Monday words alleged that Russia recently received additional ballistic missiles from Pyongyang and is preparing to deploy more North Korean troops, after already sending thousands to fight on the Russian side.

KCNA via KNS

While reports from the last couple years have estimated that North Korea has maintained up to around 10,000 troops in Russia related to the 'special military operation' in Ukraine, Zelensky is now floating a huge number of projected new DPRK forces.

It started on Saturday when Zelensky took to X to say - without evidence - that "a decision has been made for 30,000 ⁠to 50,000 North Koreans to be deployed on the territory of Russia," a higher figure than his estimate of 30,000 in July." He didn't specify where he obtained the alleged data from.

He also said that Ukrainian intelligence had located some North Korean missiles in Ukraine's territory, without further elaborating. What is clear is the Moscow

Strategic Autonomy Is Running Dry

Strategic Autonomy Is Running Dry


By Bas van Geffen, senior macro strategist at Rabobank

Yesterday, my road cycling took me along the Lek River, which branches off from the Rhine. I frequently ride the path along this river, but the Lek was almost unrecognisable in the distance and what is normally part of the riverbed has now run dry.

It's a very tangible reminder of numbers we've recently been watching on our screens: Upstream, at Kaub, the water level in the Rhine has fallen to historical lows. And a new heatwave that is due to hit Europe, is bound to make matters worse: current forecasts see the level drop to less than 5 centimetres above the station's zero mark by the end of the week.

The Rhine fell to its lowest ever levels at points in Germany and the Netherlands as heatwave conditions continue

Ships were already forced to reduce the amount of cargo they carry, but soon they may be unable to sail the entire river. The drought is effectively splitting this key piece of infrastructure into two halves between Cologne and Frankfurt. Inland shipping costs

Vitalik Buterin Says Ethereum Is Betting Its Future On Quantum Security And AI

Vitalik Buterin Says Ethereum Is Betting Its Future On Quantum Security And AI


Authored by Jason Nelson via Decrypt.co,

Ethereum co-founder Vitalik Buterin says quantum resistance, privacy, and AI-assisted security have become greater priorities for Ethereum since he published his 2023 roadmap.

"What's most striking, however, is that some completely new things are in the strawmap that are not in this diagram, because they were not in the 2023 roadmap at all," Buterin wrote. "These reflect changing priorities."

Among those priorities are stronger privacy and scaling designed for a post-quantum world, alongside efforts to push the "lean-ification of the spec," or simplify Ethereum's technical specifications.

"A common theme in scaling, found in both state types and zkzk frames (both new ideas), is that instead of trying to maximally scale all Ethereum activity," Buterin wrote.

"We try to create specialized mechanisms that have more restrictive properties that

Iran's Military Command Reshuffle Digs In For 'Hardline' Confrontation: US Must Meet All Demands For Hormuz Opening

Iran's Military Command Reshuffle Digs In For 'Hardline' Confrontation: US Must Meet All Demands For Hormuz Opening


Summary

  • Iran rejects peace push narrative: Tehran says Hormuz stays closed until the US accepts all its conditions.
  • Hardliners take control: Iran reshuffles top military leadership, signaling a tougher stance.
  • Pakistan pushes talks: Interior Minister arrives in Tehran for mediation efforts.
  • US enforces blockade: American forces reportedly fired on a ship trying to breach the Iran blockade.
  • Shipping attacks escalate in region: A Houthi attack reportedly killed three crew members, while another vessel was struck in the Gulf of Oman.

 

Strait of Hormuz traffic returns to normal by September 30?
Yes 18% · No 83%
View full market & trade on Polymarket

*  *  *

Iran Pours Cold Water on Pakistan's Diplomatic Optimism

Pakistan started the day by floating optimistic reports of the warring sides reverting to 'moving toward peace efforts' - however that appears very short-lived, or really was probably never a reality, given soon on the heels of these claims a top Iranian official has reiterated that the Strait

Trump Weighs Federal Challenge To Mamdani's Socialist Tax "Experiment," Warns It Will Doom NYC

Trump Weighs Federal Challenge To Mamdani's Socialist Tax "Experiment," Warns It Will Doom NYC


Summary:

  • Trump Weighs Federal Challenge to New York Pied-à-Terre Tax
  • Judge Temporarily Blocks Mamdani's Socialist Tax Scheme

Trump Weighs Federal Challenge to New York Pied-à-Terre Tax

President Trump said in a Truth Social post around lunchtime that his administration is examining whether the federal government has the legal authority to block NYC Mayor Zohran Mamdani's dangerous political "experiment" before it can "destroy what was once a great City and State."

"It is pure Amateur Hour, and it's hard, as President of the United States of America, to sit back and watch it happen, especially to a place I once loved. Financial, and then Social, RUIN, is a 100% certainty - And then the Radical Left Jihadists charge Congestion Pricing on top of everything else," Trump said.

He continued, "This doesn't work in America, and must be stopped, NOW! I am looking to see if the Federal Government has any legal right to avert this disaster, before it is too late, for the millions of people who cherish New York and want to see it thrive, as opposed to becoming a filthy, crime-ridden, decrepit place of mockery and scorn."

Despite Record Surge In Subprime Car Loan Originations, US Household Debt Dropped In Q2: First Since COVID

Despite Record Surge In Subprime Car Loan Originations, US Household Debt Dropped In Q2: First Since COVID


Something unprecedented happened in the second quarter: aggregate household debt balances declined by $13 billion, a 0.1% decline from Q1. Balances stood at $18.8 trillion, up $4.6 trillion since the end of 2019, just before the pandemic recession. But the reason why we say it was unprecedented, is that the Q2 drop was the first quarterly decline in total household debt since the second quarter of 2020, when the US economy was gripped by the covid lockdown shock leading to a historic deleveraging.

In fact, the only time aggregate household debt slides is during and right after periods of financial or social crisis. And yet, in Q2, risk assets soared.... which makes one wonder: just how bad is the economy really if one takes away the constant, debt-fueled (both on and off balance sheet) AI meltup?

Here is the breakdown by main category: 

  • Mortgage debt at $13.12t after $13.19t in 1Q, a decrease of $74b
    • Mortgage delinquency rate fell to 0.99% from 1.09% prior quarter

According to the NY Fed, the decline was "due to a temporary gap in the reporting of mortgages on credit reports due

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