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Sunday, June 2, 2024

Trump warns 'depression' is on the horizon if Biden's re-elected: Just 'like in 1929'

 Former President Donald Trump warned a second Biden term could bring the country to its knees, cautioning that four more years of the current administration could usher in a depression just like the one that struck the nation in 1929.

"If I don't win, you're going to have a depression like in 1929," he said during an exclusive sit-down interview with "Fox & Friends Weekend" co-hosts Rachel Campos-Duffy, Will Cain and Pete Hegseth.

"One of the greatest analysts on Wall Street, considered maybe the best, said the only reason the stock market's high is because they think Trump is going to win," he continued. 


Donald Trump interview

Former President Donald Trump sat down with "Fox & Friends Weekend" to discuss several pressing issues, including his campaign and the guilty verdict in the New York trial. (Fox & Friends Weekend/Screengrab / Fox News)

The GOP frontrunner's exclusive talk with Fox News aired in segments throughout Sunday's broadcast. During the talk, he discussed the nation's most pressing issues, including his recently guilty verdict on 34 counts of falsifying business records in a Manhattan courtroom, his plans if elected to a second term, the current state of the nation and trust in the government.

He slammed the trial as a "scam," reflected on his previous attorneys general and responded "yes" when asked if he would declassify certain files – including the 9/11, JFK and Epstein files – to restore some trust lost in American institutions.

Donald Trump arrives to Trump Tower after being found guilty

Donald Trump arrives to Trump Tower, Thursday, May 30, 2024, after being found guilty on 34 counts of falsifying business records in the first degree. (Felipe Ramales for Fox News Digital / Fox News)

Trump also vowed to cut the Department of Education aside from, in his words, "hav[ing] a little tiny coordination" with localized handling of the education system.

"[It would] be nice to make sure that everybody's teaching English," he said.

He also shared his thoughts on the vice presidential role.


"[A vice president is] I would say somebody that you can get along with, somebody that can help you get elected, somebody that can be a very good president," he said.

The state of the country under President Biden's tenure became another topic of conversation, with Trump insisting the U.S. was going "great" during his own time in office and that the nation has declined since. 


On that note, he insisted America should strive to reach energy independence again.

https://www.foxbusiness.com/media/trump-warns-depression-horizon-biden-re-elected-1929

Delta 'committed to Boeing Max 10'

 Delta Air Lines is running its largest ever transatlantic schedule this year as it sees healthy travel demand, especially on international routes, senior executives said on Saturday.

Delta, one of the largest U.S. airlines, has forecast record high second-quarter revenue thanks to buoyant demand for spring and summer travel.

"Summer's progressing strongly and demand is quite healthy," CEO Ed Bastian told reporters.

"Demand is growing faster internationally than it is domestically, and Delta is very well positioned to take advantage of that with its partners," Bastian added.

Delta says consumers are spending on experiences with travel a top priority after the pandemic.

Demand is particularly strong for premium travel, benefiting carriers like Delta.

“We have seen continued strength through the spring to early summer ... our international business is quite strong," Delta President Glen Hauenstein told reporters.

Rival American Airlines, however, said this week there was still excess seat capacity in the domestic market, resulting in discounting pressure.

U.S. carriers have plans to further moderate capacity in the second half of the year, which airline executives say will underpin the industry's pricing power.

BOEING

Delta operates a large mixed fleet including planes from Airbus and Boeing, which is engulfed in a quality and corporate crisis.

Bastian said Delta is "encouraged" by steps Boeing is taking with management changes and other adjustments at the company.

"I'm confident we will see improvement," Bastian said, adding Delta was still committed to its order for Boeing 737 MAX 10 jets.

Delta currently does not fly any version of the Boeing MAX but has MAX 10s on order for delivery next year. The MAX 10 - the largest version of Boeing's best-selling narrowbody jet - is still awaiting certification by the U.S. Federal Aviation Administration (FAA).

AstraZeneca ENHERTU median progression-free survival of 13.2 months in breast cancer

 DESTINY-Breast06 results show AstraZeneca and Daiichi Sankyo’s ENHERTU is the first HER2-directed medicine and ADC to demonstrate clinically meaningful benefit for patients in this setting

Additionally, data from DESTINY-Breast03 and DESTINY-Breast07 trials in HER2-positive metastatic breast cancer reinforce ENHERTU as standard of care in 2nd-line setting and highlight potential in 1st-line setting

https://www.businesswire.com/news/home/20240602661484/en/

GSK myeloma combo reduced disease progression, death risk by nearly 50% versus standard of care

 

  • DREAMM-8 phase III trial showed statistically significant and clinically meaningful improvement in primary endpoint of progression-free survival (PFS)
  • Median PFS not yet reached at 21.8 months median follow-up versus 12.7 months in bortezomib combination
  • Second trial to show robust efficacy for a belantamab mafodotin combination versus a standard of care in second line and later relapsed/refractory multiple myeloma
  • Results simultaneously published in the New England Journal of Medicine

Nvidia Announces Next-Generation Rubin AI Platform for 2026

 Nvidia Corp. Chief Executive Officer Jensen Huang said the company plans to upgrade its AI accelerators every year, announcing a Blackwell Ultra chip for 2025 and a next-generation platform in development called Rubin for 2026.

The company — now best known for its artificial intelligence data center systems — also introduced new tools and software models on the eve of the Computex trade show in Taiwan. Nvidia sees the rise of generative AI as a new industrial revolution and expects to play a major role as the technology shifts to personal computers, the CEO said in a keynote address at National Taiwan University.

Nvidia has been the main beneficiary of a massive flood of AI spending, helping turn the company into the world’s most valuable chipmaker. But it now looks to broaden its customer base beyond the handful of cloud-computing giants that generate much of its sales. As part of the expansion, Huang expects a larger swath of companies and government agencies to embrace AI — everyone from shipbuilders to drug developers. He returned to themes he set out a year ago at the same venue, including the idea that those without AI capabilities will be left behind.

“We are seeing computation inflation,” Huang said on Sunday. As the amount of data that needs to be processed grows exponentially, traditional computing methods cannot keep up and it’s only through Nvidia’s style of accelerated computing that we can cut back the costs, Huang said. He touted 98% cost savings and 97% less energy required with Nvidia’s technology, saying that constituted “CEO math, which is not accurate, but it is correct.”

Huang said the upcoming Rubin AI platform will use HBM4, the next iteration of the essential high-bandwidth memory that’s grown into a bottleneck for AI accelerator production, with leader SK Hynix Inc. largely sold out through 2025. He otherwise did not offer detailed specifications for the upcoming products, which will follow Blackwell.

Nvidia got its start selling gaming cards for desktop PCs, and that background is coming into play as computer makers push to add more AI functions to their machines.

Microsoft Corp. and its hardware partners are using Computex to show off new laptops with AI enhancements under the branding of Copilot+. The majority of those devices coming to market are based on a new type of processor that will enable them to go longer on one battery charge, provided by Nvidia rival Qualcomm Inc.

State Supreme Courts Take Up COVID-19 Vaccine Cases

 by Zachary Stieber via The Epoch Times (emphasis ours),

Two state supreme courts are considering whether workers who administered COVID-19 vaccines to minors without parental consent should be shielded by a federal law.

The North Carolina Supreme Court agreed to take up an appeal from Tanner Smith, one of the minors, and his mother, according to an order dated May 23.

Tanner, who was 14 at the time, went to a clinic at a school in his district, Guilford County Schools, in 2021 to receive a COVID-19 test. Instead, his mom and stepfather learned later, he was injected with a COVID-19 vaccine even after he told workers at the clinic he didn’t want it.

Emily Happel, Tanner’s mother, and the boy sued the district and the organization that was running the clinic, alleging battery and violations of constitutional rights.

A trial court ruled against them, though, finding that the Public Readiness and Emergency Preparedness Act (PREP Act) provides immunity to the workers.

The act, signed in 2005 by then-President George W. Bush, conveys immunity to administrators of covered vaccines except in cases of “willful misconduct.”

The North Carolina Court of Appeals upheld the ruling in March, despite designating the conduct carried out by the administrators “egregious.”

“We must determine whether the scope of immunity covers the potential liability at issue in this case. We hold that it does because, as the trial court noted, the immunity provided by the act is extremely broad,” Judge April Wood wrote in the unanimous ruling.

“Plaintiffs argue that the PREP Act does not cover their claims because they do not arise because of COVID-19, but merely happen to relate to COVID-19. We would be inclined to agree if the PREP Act did not define the scope of immunity so broadly,” she added later.

In a filing to the North Carolina Supreme Court, lawyers for Ms. Happel and Tanner said that the lower court decisions “rendered totally useless N.C. Gen. Stat. § 90-21.5(a1) which prohibited the very acts committed by defendants.” They also said that the trial court erred in finding that available evidence did not show the clinic workers were “acting within the scope of their employment by administering a vaccine” because that meant the court “would have required that administering vaccines without consent be a part of the employment duties of the vaccine clinic workers for a claim to stand.”

State Rep. Neal Jackson and seven other members of the state’s General Assembly said in a supporting brief that the lower court rulings wrongly overrode state law.

The PREP Act states in part that covered persons are immune from “all claims for loss caused by, arising out of, relating to, or resulting from the administration to or the use by an individual” of a covered vaccine. It defines loss as death, injury, fear of injury, or loss of or damage to property.

Nothing in the text of the PREP Act specifically and expressly speaks to a violation of the state constitution, especially the deprivation of a parent’s right to determine the care, custody, and control of her minor child,” the members said. They added later, “If allowed to stand, however, the decision of the Court of Appeals would permit any constitutional violation and immunize all manner of ‘egregious’ conduct so long as it is done in connection with the provision of a COVID-19 vaccine.”

The Guilford County Board of Education, one of the defendants, told the state’s top court that the matter is “a straightforward application of federal statutory immunity” and not deserving of a fresh look by the court. The Old North State Medical Society, another defendant, said it was in full agreement with the county’s filing.

Vermont Case

The Vermont Supreme Court, meanwhile, heard arguments on May 28 in a case involving a 6-year-old who received a COVID-19 vaccine despite his parents explicitly stating they did not want the child to receive the shot.

The child was injected in 2021 at Academy School in Brattleboro even after Dario and Shujen Politella, the child’s parents, had informed officials they did not want the child vaccinated.

Mark Speno, superintendent of the Windham Southeast Supervisory Union, apologized and blamed the injection on a mixup with name tags.

Mr. and Mrs. Politella removed their child from the school and sued, alleging negligence, battery, and fraud.

The Vermont Superior Court dismissed the suit, finding that they needed to bring litigation in federal court under the PREP Act’s willful misconduct immunity exemption.

Lawyers for the family in a brief pointed to a U.S. appeals court ruling from 2023 that found defendants failed to show the PREP Act covered their actions and directed the case back to state court. “That should happen here,” the lawyers said.

Ronald Ferrara, one of the attorneys, told justices during oral arguments that the failure of school staff to listen to the parents is “really the cause of harm in this case,” the Vermont Digger reported. He said that “the vaccine has absolutely nothing to do with it.”

While the PREP Act immunity appears broad, disallowing the suit due to the law “create[s] some bad public policy because this kind of mistake can be repeated without ever having any judicial review,” he added later.

Vermont lawyers said that the lower court rulings were correct.

The weight of authority clearly comes down in favor of the defendants having immunity in this case, and the lack of consent is causally related to the administration of the ‘countermeasure’ by covered individuals, therefore immunity applies,” David McLean, a state attorney, told the justices.

Aaron Siri, the managing partner of Siri & Glimstad LLP, who represents plaintiffs in legal action challenging the PREP Act’s compensation scheme, reviewed the cases.

“Anyone that injects a child against the child’s wishes or without parental consent,“ Mr. Siri told The Epoch Times in an email, ”should be criminally prosecuted and treated like any other criminal that engages in battery.”

https://www.zerohedge.com/covid-19/state-supreme-courts-take-covid-19-vaccine-cases

OPEC+ extends deep oil production cuts into 2025

 OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025, exceeding market expectations, as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.

Oil prices trade near $80 per barrel, below what many OPEC+ members need to balance their budget. Worries over slow demand growth in top oil importer China have weighed on prices alongside rising oil stocks in developed economies.

The Organization of the Petroleum Exporting Countries and allies led by Russia, together known as OPEC+, have made a series of deep output cuts since late 2022.

OPEC+ members are currently cutting output by a total of 5.86 million barrels per day (bpd), or about 5.7% of global demand.

Those include 3.66 million bpd of cuts, which were due to expire at the end of 2024, and voluntary cuts by eight members of 2.2 million bpd, expiring at the end of June 2024.

On Sunday, OPEC+ agreed to extend the cuts of 3.66 million bpd by a year until the end of 2025 and prolong the cuts of 2.2 million bpd by three months until the end of September 2024.

OPEC will spend one year on gradually phasing out cuts of 2.2 million bpd starting from October 2024 until the end of September 2025, three OPEC+ sources said.

"Now the market has clarity for almost 1.5 years," an OPEC+ delegate said, declining to be named.

Amrita Sen, co-founder of Energy Aspects think tank, said: "The deal should allay market fears of OPEC+ adding back barrels at a time when demand concerns are still rife".

QUICK DEAL

Analysts had expected OPEC to prolong voluntary cuts by a few months due to falling oil prices and sluggish demand.

But many analysts had also predicted the group would struggle to set targets for 2025 as it had yet to agree individual capacity targets for each member, an issue that had previously created tensions.

The United Arab Emirates, for instance, has been pushing for a higher production quota arguing its capacity figure had been long under-estimated.