Geopolitics
Northern Israel came under a Hezbollah missile and drone attack on Saturday. At least eight missiles struck sites in the Galilee, including Kiryat Shmona. Hezbollah stated it conducted 22 operations against Israeli positions in 24 hours. Prime Minister Netanyahu said he had directed the IDF to increase operations and asserted that more than 600 militants had been killed in recent weeks.
In other news, an Iranian Fateh-110 missile struck Kuwait’s Ali Al Salem Air Base. Defenses intercepted the missile, but debris injured five Americans and damaged two MQ-9 Reapers. Iran’s Khatam al-Anbiya headquarters stated it holds authority over Hormuz navigation and requires vessels to obtain permission from the IRGC Navy. Iranian lawmakers are finalizing legislation on navigation and pollution fees. A tentative US-Iran memorandum would extend a ceasefire for 60 days and restart nuclear talks. Treasury Secretary Bessent stated conditions, including the reopening of Hormuz and limits on Iran’s nuclear program. Tehran has said unfreezing of assets must precede nuclear discussions. Secretary of War Hegseth said the military is prepared to resume strikes. Brent crude reached $91 per barrel.
Relatedly, NBC News reported that the US military has not confirmed any Iranian sea mines in the Strait of Hormuz after three months of searches. This comes despite President Trump’s claims that the US Navy has been actively removing mines with the support of Iran. Insurance underwriters have ended or raised the cost of coverage for the waterway, which carries 20% of global petroleum. Some accounts have referenced possible Iranian mine deployments near the Omani coastline despite the absence of confirmed identifications.
Economy
A Fringe Finance post by QTR states that retail investors who have supported equities for half a decade show signs of reduced capacity. The Wall Street Journal reported on a hospital director earning nearly $200,000 who accumulated $15,000 in credit card debt at 26% interest. Federal Reserve data show 90-day credit card delinquencies reached 13.1% in the first quarter, the highest level since 2008, while balances hit $1.25 trillion and average interest rates rose from 14.6% in early 2022 to about 21%. Delinquencies have increased across income levels. Student loan delinquencies rose after repayment resumed, and nearly 19% of new auto loans carry monthly payments of at least $1,000, compared with lower levels five years ago. The average financed amount reached $43,952. The personal savings rate has declined toward historic lows. A Talker Research poll funded by Dave & Buster’s found that nearly 60% of Americans say they cannot afford summer plans. QTR states that consumer spending accounts for roughly 70% of GDP and that continued deterioration could favor bonds, gold, staples, and equal-weighted indices.
Preparedness
Peter Thiel has spent increasing time in Argentina, enrolling his children in a Buenos Aires school and purchasing a home in one of the city’s wealthiest neighborhoods, according to a New York Times report. Charlie Garcia, founder of R360, described a trend toward sovereign diversification involving multiple passports, tax regimes, and a Plan B jurisdiction in the Southern Hemisphere. New Zealand, Costa Rica, and Thailand have recorded increases in wealthy migrants. Henley & Partners projects that more than 165,000 high-net-worth individuals will relocate in the current year, compared with 142,000 last year. Factors cited include a proposed California ballot measure imposing a one-time 5% tax on billionaires’ net worth and New York City’s pied-à-terre tax. Garcia noted Argentina’s history of inflation and currency controls, but described the country as an additional option for the group. Some reports and commentary have expressed doubts about Argentina’s long-term stability as a hedge.
US Politics
Louisiana’s legislature passed a new congressional map in a 28-10 Senate vote, eliminating one Black-majority district and creating Republican advantages in five of six House seats. Governor Jeff Landry is expected to sign the measure. The action followed a US Supreme Court 6-3 decision holding that race could not be the predominant factor in district drawing. State Rep. Beau Beaullieu stated that partisan considerations were a strong factor. Alabama and Tennessee have scheduled special sessions on redistricting. Critics have argued that the map diminishes Black voting power, with litigation expected.
In other electoral news, a Wake County Superior Court judge ruled that North Carolina violated its constitution by permitting individuals born overseas to US citizen parents who have never lived in the state to vote in federal elections under the Uniform Military and Overseas Voter Act. The ruling sided with the RNC and state GOP arguments that residency requirements apply to all elections.
Privacy & Surveillance
Samsung Electronics America and CLEAR launched Samsung ID with CLEAR on May 26, a digital credential stored in Samsung Wallet that allows identity verification at more than 250 TSA checkpoints. Enrollment requires scanning a US passport and completing a CLEAR face scan. The system enrolls users in CLEAR’s biometric database of 41 million members. CLEAR states it will not sell biometric data. The credential is already used for age verification at BMO Stadium in Los Angeles. Privacy concerns have been raised regarding the routing of federal IDs and biometrics.
Environment
Google has requested EPA approval to release up to 32 million male Culex mosquitoes treated with Wolbachia bacteria in Florida and California over two years. The bacteria prevent viable offspring when the males mate with wild females. The mosquitoes do not bite. The goal is the reduction of West Nile virus and St. Louis encephalitis transmission. Chad Huff of the Florida Keys Mosquito Control District reported reductions in similar ongoing trials. Google plans to use AI and robotic systems for breeding and release. The EPA is accepting public comments through June 5. Some commentary has raised concerns about potential unintended ecological consequences.
Sources
Peter Thiel’s Argentina Move Signals Billionaires’ Growing ‘Plan B’ Trend
Peter Thiel’s move to Argentina reflects a growing trend among billionaires seeking a ‘plan B’ abroad
Source | Submitted by thecountmc
The Market’s Biggest Buyer May Be Disappearing
Beneath the surface, the American consumer is tapped out.
Hezbollah Unleashes Major Missile Barrage on Northern Israel in Revenge Operation
Hezbollah subsequently announced it had carried out 22 military operations against Israeli army positions and equipment within the prior 24 hours. It framed this as a revenge operation for Israeli attacks on civilian centers in Lebanon.
US Finds Zero Confirmed Mines in Hormuz Despite Trump’s Claims
US Military Hasn’t Identified A Single Confirmed Mine In Strait Of Hormuz, Officials Tell NBC
Iran Missile Strike Wounds Americans in Kuwait as Hormuz Control Bill Advances
Iran is pushing forward legislation formalizing control/management of Hormuz Strait shipping, which flies in the face of Trump warnings & conditions.
Louisiana Passes Map Eliminating Black-Majority District for GOP Edge
The Louisiana state legislature passed a new Congressional map on Friday, eliminating a black-majority district.
NC Court Bars Nonresidents from Federal Voting in GOP Win
This ruling confirms the state constitution forbids voting by individuals who have never lived in North Carolina
Samsung’s CLEAR Digital ID Puts Your Passport—and Face—in the Wallet
What you actually exchange for it is your face, your passport data and a permanent place in a corporate identity network most people have never read the terms of.
Google Seeks EPA Nod to Release 32 Million Disease-Fighting Mosquitoes
Google seeks approval to release millions of specially treated mosquitoes to combat disease
In addition to sources submitted by community members, the following were also used in the creation of this report: Breitbart, merca2.es, techtalking.it, Press TV, EmmanuelInvest, Hamdan News, JBreakingNews, Grok, Louisiana First Standard, CryptoProphet, Tasnim News Agency, ExtremeTech, The Tatva, HSC_Consult, DannyMiller65, nestersk.
by westcoastjan 
