The Trump administration’s killings of scores of Venezuelans are provoking outrage across the Western Hemisphere. Secretary of War Pete Hegseth recently proclaimed, “We have only just begun to kill narco-terrorists.” President Trump and Hegseth are cashing a blank check for carnage that was written years earlier by President Barack Obama.

In his 2017 farewell address, Obama boasted, “We have taken out tens of thousands of terrorists.” Drone strikes increased tenfold under Obama, helping fuel anti–U.S. backlashes in several nations.

Federal interest payments are now huge thanks to rising interest rates. The Fed may soon intervene in a big way in an effort to force down yields on Treasurys. 

Japan says it will increase more bond-buying (and thus more monetary inflation) to get control of rapidly rising yields which threaten Japanese sovereign debt. 

Suggests that the al-Qaeda militants, who oversee massacres of Syrian Christians, is becoming a “benevolent monarchy.” 

Gas is the cheapest since 2021. In a tepid economy, demand falls, and demand for oil is now outpaced by production. Gas then gets cheaper.