We know what’s coming and we are prepared.
🚷 🇳🇱 📊 Die Welt has an interview with a co-author of the groundbreaking Dutch study on the net economic costs of immigration, which has sparked a huge controversy in the Netherlands. The top line finding is that immigration has cost
🔶️ the Dutch state an average of €17 billion per year since 1995, mainly in providing generous welfare benefits to unemployed migrants. Work migrants from Western (blue) & non-Western (black) are the only net contributors. Asylum seekers are the biggest net drain.
🔶️ The other finding is that migrants who don't integrate into the labor market stay in the Netherlands the longest, along with migrants who arrive for family reunification. Immigrants who adapt successfully tend to take their skills and leave the Netherlands,
🔶️ often heading to the US or UK where salaries are higher and taxes lower. Study co-author Jan H. van de Beek describes the system as a sort of welfare magnet in which the least-integrated immigrants stay the longest and cost Dutch taxpayers the most.
🔶️ The University of Amsterdam, which employs some of the study's authors and helped finance it, has since distanced itself from the study, since pointing to any downsides of immigration, no matter obvious and empirically demonstrable, is still taboo among mainstream circles.
🔶️ This, of course, is part of what drives European voters to populist-right parties -- the disconnect between what they see and experience every day and the airbrushed world within the "opinion corridor" (to use the Swedish term) of opinions deemed socially acceptable.
🔶️ Given what we know about immigration in Germany, the results of a major study like the Dutch one would yield nearly identical results here. Which is why it will very likely never happen. The objective reality of the effects of German immigration policy would be too disturbing.
📎 Andrew Hammel
Ukrainian forces have begun training and testing exoskeletons for battlefield use. Soldiers from the 147th Separate Artillery Brigade are using them in the Pokrovsk sector for both logistics and frontline operations. The goal is to reduce physical strain, especially when loading heavy artillery shells into howitzers without automatic loaders. Artillery crews can handle up to 1200 kg of ammunition per day, and early tests show that exoskeletons help them work faster and with less fatigue Above all, by improving the conditions for those soldiers on the front lines who handle such heavy loads, plus the stress of work. Seeking to reduce overall fatigue in the troops
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🇮🇷🇮🇱 - 14 wounded in Iranian missile strike in central Israel, according to Israeli media.
🇬🇧🇮🇶 - A drone struck British Castrol oil warehouses in Erbil, Iraqi Kurdistan, causing extensive damage.
🇮🇷🇮🇱 - Iran launched 9 missiles towards Israel this morning alone, with at least 3 of them being cluster missiles.
🇱🇧🇮🇱 - Over the past 12 hours, Hezbollah launched counterattacks in Khiam and Qantara, in the Nabatieh direction, southeast Lebanon. Hezbollah recaptured northern Khiam, with fighting ongoing for the south of the town. Hezbollah units also re-entered Qantara; frontline sources reported clashes in the center of the town last night.
🇱🇧🇮🇱 - 48 IDF soldiers have been wounded in clashes with Hezbollah over the last 24 hours in southern Lebanon, according to the Israeli Army.
🇱🇧🇮🇱 - "The Israeli army is barely catching its breath in southern Lebanon, and its resources are less than in the previous round of fighting," - Haaretz....
🇺🇸 Blue Owl Capital just disclosed that investors tried to pull 40.7% of one fund and 21.9% of another in a single quarter, and both funds gave the same answer, you can only have 5% back, and everyone else waits in line.
This is a bank run, not a normal withdrawal.
Wall Street spent the last decade selling millions of investors on something called semi-liquid private credit, higher yields, steady income and the promise you could get your money back every quarter if you needed it. What they buried in the fine print was what happens when too many people try to leave at the same time.
Analysts who have covered private credit for decades say nothing on this scale has ever been reported before at any major private credit manager.
These funds do not hold stocks you can sell on a Tuesday afternoon, they hold private loans to mid sized companies that cannot be liquidated quickly without destroying the price for every investor still trapped inside.
This product was originally designed for ...
🇺🇸 President Trump wants to switch to war economy in 2027 with massive increase in military spending and massive cuts to healthcare and other domestic agencies
Once a deficit hawk — he said in 2016 that he thought he could balance the budget in five years — Trump ended his first term with $7.8 trillion in added debt. His 2027 proposal is expected to give an update on 10-year deficit projections currently estimated at around $16 trillion.
The GOP's message for the Midterms will be focused on the "need" for a massive defense build up while the Democrats' message will be focused on affordability.
The fiscal 2027 budget will be the first time Trump puts his second-term governing agenda into one comprehensive document — with the numbers to back it up. The budget he released last year lacked detailed line-by-line spending targets and the economic assumptions necessary to project the long-term cost of his proposals.
Investors in US Treasuries will be looking to see if the debt and ...
