Originally published at: https://peakprosperity.com/trump-postpones-military-action-again-scotus-declines-to-hear-case-upholding-vaccine-mandates/
Geopolitics
President Trump stated that he had postponed planned military action against Iran after receiving requests from the leaders of Qatar, Saudi Arabia, and the United Arab Emirates, who indicated that negotiations could produce an agreement without Iranian nuclear weapons.
Meanwhile, a Russian drone reportedly struck the Chinese-owned vessel KSL Deyang off Ukraine’s coast hours before Presidents Xi Jinping and Vladimir Putin were scheduled to meet. The ship sustained limited damage and continued to port after the fire was extinguished. Chinese officials have downplayed the incident.
Energy
HFI Research released a report suggesting the oil market has reached a point of no return. Global oil inventories have declined at a rate of 7.5 million barrels per day because of production shut-ins and limited storage options while the Strait of Hormuz remains closed. According to the report, all analysts at major banks now assume the strait will reopen by June, yet logistical constraints on restarting output mean any resolution after that date would extend the inventory draw. Notably, JP Morgan believes the Strait will open in June “one way or another” simply because that’s when inventories will start hitting tank bottom. Some market reports indicate shares and bonds have steadied amid signs of potential de-escalation.
Health
The Supreme Court declined to review a Ninth Circuit decision that upheld school vaccine mandates on the basis that courts should defer to officials’ public-health judgments. The ruling applies to workplace policies rather than the physical compulsion of medical interventions.
Meanwhile, the Food and Drug Administration removed Tracy Beth Høeg from her position as acting director of the Center for Drug Evaluation and Research. Høeg had supported reviews of the childhood vaccine schedule and research into COVID-19 vaccine safety.
In other news, a Spanish study of 691 children found that those obtaining more than 30 percent of calories from ultra-processed foods faced nearly four times the risk of asthma.
US Politics
Kentucky Representative Thomas Massie introduced the Americans Insist on Political Agent Clarity (AIPAC) Act to amend the Foreign Agents Registration Act of 1938. The measure would expand the definition of a foreign principal to include domestic organizations whose lobbying advances the interests of a foreign country and would allow citizens to request Justice Department investigations. Massie faces a primary opponent who has reportedly received more than $15.5 million from pro-Israel groups, contributing to total spending that exceeds $30 million in the race for Kentucky’s 4th Congressional District. Recent polling reportedly shows the challenger leading with endorsement from the Trump administration.
Primary voting is today.
Economy
Japan’s government will issue additional debt to finance gasoline and utility subsidies after oil prices rose amid the Iran conflict. The decision lifted the benchmark 10-year government bond yield to 2.8 percent, the highest level since October 1996.
In China, fixed-asset investment fell 1.6 percent in the first four months of the year, industrial production grew 4.1 percent in April, the slowest pace in nearly three years, and retail sales rose only 0.2 percent, the weakest reading since December 2022. Official Chinese sources described the April data as reflecting steady economic momentum amid external uncertainties.
Artificial Intelligence
Analysts note that a sufficiently advanced quantum computer could break current RSA encryption through Shor’s algorithm, enabling rapid decryption of data already collected under a “harvest-now-decrypt-later” approach, with estimates for such capability ranging from 2029 to at least 30 years away.
In other news, a federal jury found that Elon Musk’s lawsuit against OpenAI was filed after the statute of limitations had expired, and the court dismissed the case. Musk plans to appeal the ruling that determined he knew or should have known of the company’s shift to a for-profit model years earlier. OpenAI has maintained that the suit was untimely and filed after Musk launched a competing venture.
European Politics
X agreed to review the majority of UK reports of suspected illegal terrorist and hate content within an average of 24 hours and at least 85 percent within 48 hours under the Online Safety Act. The platform will also share quarterly compliance data with Ofcom and block accounts linked to proscribed UK terrorist organizations. Critics have raised concerns over potential impacts on free speech.
Sources
Massie Introduces AIPAC Act to Force Foreign Agent Registration Under FARA
We need more transparency in the foreign interest lobbying on Capitol Hill. That’s why I introduced the Americans Insist on Political Agent Clarity Act today.
Source | Submitted by Rodster
Japan’s Bonds Crater as Takaichi Plans Debt Binge for Gasoline Subsidies
Japanese bond yields have exploded to multi-decade, if not record highs.
Musk’s OpenAI Lawsuit Dismissed as Untimely; Appeal Planned
The verdict effectively ends Musk’s claims that OpenAI abandoned its founding nonprofit mission to benefit humanity.
Q-Day: The Quantum Line Machines Are About to Cross
Q-Day is shorthand for the moment when quantum computing crosses a line we assumed would hold—when the mathematics that secures modern life can be broken, and broken quickly.
Russian Drone Hits Chinese Ship in Black Sea Hours Before Xi-Putin Summit
Just 24 hours before Presidents Vladimir Putin and Xi Jinping are set to meet for their planned summit in Beijing.
China’s Ugly Data Reveal Sparks Hard Landing Fears
What is shocking is that it is common knowledge that Beijing traditionally massages its economic data to present itself in the rosiest possible light: the fact that it allowed data this ugly would suggest that the picture on the ground is much uglier.
FDA Fires MAHA Vaccine Reformer Tracy Høeg in Leadership Shakeup
An ideological cleansing disguised as bureaucratic housekeeping
Trump Pauses Iran Strikes at Gulf Allies’ Request for Imminent Deal
I have been asked by the Emir of Qatar, Tamim bin Hamad Al Thani, the Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud, and the President of the United Arab Emirates, Mohamed bin Zayed Al Nahyan, to hold off on our planned military attack of the Islamic Republic of Iran, which was scheduled for tomorrow, in that serious negotiations are now taking place.
Ultra-Processed Foods Quadruple Kids’ Asthma Risk, Study Finds
Children who get more than 30% of their daily calories from ultraprocessed foods are at a 4x increased risk of developing asthma.
X’s Reversal: 48-Hour UK Hate Content Removals Agreed
The deal is a notable reversal for a platform that, less than a year ago, publicly accused Ofcom of taking a “heavy-handed approach” and warned that the Online Safety Act was “seriously infringing” on free expression.
Oil Market Reaches Point of No Return as Hormuz Closure Drains Inventories
We have reached the point of no return.
Supreme Court Upholds Mandate Precedent, Dealing Blow to Health Freedom
The system is not going to protect us.
