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Wednesday, October 2, 2024

'Israel Said Planning Massive Retaliation, Likely Targets Oil & Gas Rigs, Nuclear Sites'

 Israeli Prime Minister Benjamin Netanyahu is expected to be in meetings with his security cabinet Wednesday to mull potential operations to last night's Iranian attack which saw some 181 ballistic missiles fired directly at Israel.

Israel's military claims most were intercepted, and that there was almost no damage or Israeli casualties, but the avalanche of available on-the-ground videos contradict these assertions. Israeli media has cited officials who say retaliation on Iran could include hitting targets like gas or oil rigs, and Iran's nuclear sites.


"An attack on Iranian oil facilities could devastate the country’s economy, and any of the considered responses could mark another escalation, almost one year into the ongoing war that began when the Hamas terror group attacked Israel in October 2023," Times of Israel writes. 

A correspondent from the same publication has cited another official who says the response will aim to inflict "significant financial damage" and that Israeli leaders feel the strike "must be significant, and it must come soon."

The security cabinet spent much of Tuesday night in a secure bunker under Jerusalem. By the end of the meeting there was reportedly consensus that Israel's military would hit back.

Prime Minister Benjamin Netanyahu's first words in the wake of the attack were "Iran made a big mistake tonight, and it will pay for it" and included the vow, "whoever attacks us — we will attack them."

"The regime in Iran does not understand our determination to defend ourselves and our determination to retaliate against our enemies. They will understand. We will stand by the rule we established: whoever attacks us, we will attack him," Netanyahu continued.

Netanyahu met with Shin Bet head Ronen Bar, Mossad director David Barnea, IDF Chief of Staff Herzi Halevi and Defense Minister Yoav Gallant on Wednesday:

Via GPO/TOI

Axios also suggests in its reporting that a "massive payback" is coming:

Israeli officials staring down all-out regional war tell Axios Israel will launch a "significant retaliation" to Tuesday's massive missile attack within days that could target oil production facilities inside Iran and other strategic sites.

An Israeli official told the outlet, "We have a big question mark about how the Iranians are going to respond to an attack, but we take into consideration the possibility that they would go all in, which will be a whole different ball game."

People were celebrating the ballistic missile attacks inside Iran and Gaza. The size of it was unprecedented in history in terms of a single volley of heavy rockets sent directly on Israel.

Meanwhile, in south Lebanon Israeli ground troops are reportedly engaged in close-quarters combat with Hezbollah fighters. The Israel Defense Forces (IDF) have confirmed the first troop death of its Operation Northern Arrows in Lebanon.

"The soldier is named as Cpt. Eitan Itzhak Oster, 22, a team commander in the Egoz Commando Unit, from Modi’in," TOI writes. "Oster was killed during a battle with Hezbollah operatives in a village in southern Lebanon." 

Despite overnight scenes like the below, Israel on Wednesday claims its bases and infrastructure came out largely unscathed...

There have been unverified reports circulating of additional casualties suffered by the Israelis, and the situation is fast looking like the 2006 war, which had high casualties on both sides.

Al Jazeera writes of the heavy fighting, "Hezbollah has issued a statement saying its fighters detonated an explosive device that killed and wounded members of the Israeli army trying to circumvent the village of Yaroun in southern Lebanon." The Israeli Army did not put out an immediate statement confirming or denying.

Iranians preparing for the worst...

Newsom Outlaws Voter ID Rules In California

 California governor Gavin Newsom has just signed a new law banning local governments from requiring residents to present identification to vote in elections.

The legislation - introduced by Sen. Dave Min (D-Orange County) - is a direct response to a ballot measure approved this year by voters in Huntington Beach which required people to show photo identification at the polls.

The Republican-led city, whose leaders often tussle with Sacramento Democrats, has maintained that its status as a charter city gives it home rule over elections administration.

But Attorney General Rob Bonta and Secretary of State Shirley Weber aren’t buying it: The officials sued Huntington Beach in April to invalidate the law, arguing it interferes with state voting rights protections. -Politico -Politico


California is one of 14 states that does not require voter ID at the polls - so, if a person wants to operate a car, hop on a plane, or rent an apartment in California - you need ID. Voting? Not so much.

"The right to freely cast your vote is the foundation of our democracy and Huntington Beach’s voter ID policy flies in the face of this principle," said Bonta in an April statement coinciding with the state's lawsuit against election security.

As Politico notes further, Min's legislation is one of several bills introduced by Democratic state lawmakers over the past year which seek to cement Democrat control over the state protect poor disenfranchised 'citizens' who (per their argument) don't have the resources or brainpower to obtain a license, yet want to participate in elections.

The changes aim to prevent Huntington Beach, Shasta County and other conservative local governments from establishing election policies that are often driven by suspicions of voter fraud.

Legislation from state Sen. Steve Bradford, signed into law Wednesday, clarifies record-keeping procedures for secure elections data and increases the secretary of state’s regulatory power over poll books and other voting systems used in local elections. -Politico

Last year, local officials in Shasta County, CA were unsuccessful in their attempts to get rid of electronic voting machines.

https://www.zerohedge.com/political/newsom-outlaws-voter-id-rules-california

 

Vance Vanquishes 'Knucklehead' Walz & Muting Moderators

 Cordiality amidst clashes marked the first and only vice-presidential debate of 2024 as Republican JD Vance and Democrat Tim Walz squared off on Tuesday night. 

The Oct. 1 CBS News event was hosted by Norah O’Donnell, of CBS Evening News, and Margaret Brennan, of Face the Nation (and once again the moderators became part of the story too).

While both were plainspoken and civil, Vance provided a crisp defense of former President Donald Trump’s America First policies while Walz, in defending the policies of the administration co-helmed by his running mate, Vice President Kamala Harris, stumbled at times.

Vance’s dominant debate performance earned him rare praise from some liberal media outlets.

A majority of columnist and contributors, nine out of thirteen, surveyed by The New York Times said Vance won the debate.

A CNN post debate poll saw Vance as the winner of the debate by a 2 percent margin.

As Nathan Worcester, Joseph Lord, Jacob Burg, and Andrew Moran report via The Epoch Times, here are highlights of a debate that revealed commonalities and differences between the two Midwesterners.

Vance Highlights Harris’s Record, Walz Defends It

“If Kamala Harris has such great plans for how to address middle class problems, then she ought to do them now,” Vance said in his closing remarks.

The senator brought up Harris’s record on a range of issues from immigration and the economy to America’s ongoing housing crisis. He blamed Harris for moving to free up several billion in Iranian assets before the events of Oct. 7 when Hamas terrorists attacked southern Israel.

“When did Iran and Hamas and their proxies attack Israel? It was during the administration of Kamala Harris,” Vance said.

Walz countered by claiming that Trump’s leadership had laid the groundwork for destabilization in the region.

“We need the steady leadership that Kamala Harris is providing,” he said.

Vance described a surge of immigrants in recent years as one of multiple factors increasing housing prices, pinning responsibility on Harris and her administration for relatively lower wages for domestic workers and other issues he tied to the border.

Walz responded in part by saying that the border crisis could have been addressed through the bipartisan bill advanced by Sen. Jim Lankford (R-Okla.) and others earlier this year, in line with arguments from Harris and other Democrats.

Members of Israel's Home Front Command and police forces inspect a crater left by an exploded projectile at a heavily-damaged school building in Israel's southern city of Gedera on Oct. 1, 202, after Iran fired between 150 and 200 missiles in an attack on Israel. MENAHEM KAHANA/AFP via Getty Images

Vance also blamed Harris for what he called “censorship on an industrial scale,” describing government-coordinated suppression of information on social media and in other contexts as more perilous to democracy than Trump’s rhetoric on Jan. 6, 2021.

Walz in his response pivoted to talk of Jan. 6, the initial question that prompted Vance’s talk of censorship.

Vance also discussed Harris’s record on energy, saying the United States “has got to invest more” in nuclear power than it has under Biden-Harris.

Walz defended the administration’s energy policy, saying natural gas production was at record levels. That’s in line with figures from the U.S. Energy Information Administration. He did not mention nuclear energy.

Civility No Ordeal

Facing off on primetime television at a time of intense national polarization, the two Midwestern politicians from opposing parties remained, in true Midwestern fashion, nice.

Though they often clashed, both found points of agreement. “There was a lot of commonality here,” Walz said in his closing statement.

Vance helped set the tone with gracious gestures.

During a discussion of the devastation from Hurricane Helene, Vance suggested both men would be praying for the victims.

Vance also expressed sympathy for Walz when the governor said his 17-year-old had seen a shooting.

“Christ have mercy,” the senator said.

The agreement went beyond rhetoric to include some policy substance.

Avery Sherrill salvages what he can from his destroyed family business, Mudtools, along the Broad River in the aftermath of Hurricane Helene in Bat Cave, North Carolina on Oct. 1, 2024. Sean Rayford/Getty Images

Amid a discussion of reshoring American manufacturing, Walz said, “much of what the senator said right there, I’m in agreement with him,” before saying the Schumer-Manchin bill championed by his ticket-mate drove manufacturing job growth.

In a discussion of housing prices, Walz said he and Vance could “find some common ground.”

Vance said some of his opponent’s statements, which focused on the commoditization of homes and Minnesota’s down payment financial assistance program, included some things he sees as “halfway decent” and others with which he disagrees.

He went on to specify that he agrees housing shouldn’t be seen as a commodity.

In a discussion of childcare shortages, Vance said his opponent was right to emphasize a lack of flexibility when it comes to funding providers, saying churches and some other models cannot always easily get support under the status quo.

“Unfortunately—look, we’re going to have to spend more money,” the senator added.

“I don’t think Senator Vance and I are that far apart. I’m not opposed to what he’s talking about on options,” Walz said.

CBS Cuts Mics as Vance Challenges Fact Check

At the beginning of the debate, Brennan said the debate would “provide the candidates with the opportunity to fact-check claims made by each other. CBS News reserves the right to mute microphones to maintain decorum.”

That policy came under pressure Tuesday night.

During an exchange on immigration, Walz raised Vance’s statements about Haitian migrants in Springfield, Ohio.

“The people that I’m most worried about in Springfield, Ohio, are the American citizens who have had their lives destroyed by Kamala Harris’s open border,” Vance replied.

Border Patrol agents take asylum seekers into custody after they crossed a remote part of the U.S.-Mexico near Jacumba Hot Springs, California, on Sept. 19, 2024. John Moore/Getty Images

Brennan later clarified, after Walz’s response, that “Springfield, Ohio does have a large number of Haitian migrants who have legal status, temporary protected.”

Earlier this year, the Biden-Harris administration extended temporary protected status to 300,000 Haitians who were illegally in the United States.

“The rules were that you guys weren’t going to fact-check, and since you’re fact-checking me, I think it’s important to say what’s actually going on,” Vance rebutted.

Both moderators talked over Vance and tried to move to the next question as Walz also chimed in.

CBS eventually muted both candidates’ microphones as Vance gave an explanation of the asylum process that gave the migrants in Ohio legal status, contrasting it with the green card application process which immigrants are typically expected to comply with.

“Gentlemen, the audience can’t hear you because your mics are cut,” Brennan said before moving on to a question about the economy.

Margaret Brennan (L) and Norah O'Donnell moderate the Vice Presidential debate between Senator and Republican vice presidential candidate J.D. Vance and Minnesota Governor and Democratic vice presidential candidate Tim Walz, hosted by CBS News at the CBS Broadcast Center in New York City on Oct. 1, 2024. ANGELA WEISS/AFP via Getty Images

Home Prices

Even as they concurred on some issues, including aspects of the housing crisis, Vance and Walz ultimately disagreed on the root causes.

While saying it is not the sole reason for rocketing housing costs, Vance attributed the rise in part to Harris “letting in millions of illegal aliens into this country.”

“Twenty-five million illegal aliens competing with Americans for scarce homes is one of those most significant drivers of home prices in the country,” he said. “It’s why we have massive increases in home prices that have happened right alongside massive increases in illegal alien populations under Kamala Harris’s leadership.”

Vance touted Trump’s proposals to restore housing affordability by using federal lands, reducing red tape, offering tax breaks, and decreasing immigration.

But lowering energy prices is another strategy to lower home prices, Vance noted.

“If a truck driver is paying 40 percent more for diesel than the lumber he’s delivering to the job site to build the house is also going to become a lot more expensive,” Vance said. “If we open up American energy, you will get immediate pricing relief for American citizens.”

Walz disagreed that illegal immigration is one of the primary factors behind record home prices.

In recent Congressional testimony, a former Border Patrol chief for the Yuma Sector described the increase in crossings under the Biden administration compared to the Trump administration.

“There have been more than 10.5 million illegal entry encounters nationwide, with more than 8.5 million of those encounters at the southwest border since the beginning of [fiscal year] 2021. By comparison, CBP recorded around 3.1 million such encounters nationwide from [fiscal year] 2017-2020,” Chris Clem testified.

The Harris campaign has proposed building three million new affordable homes and rental units, facilitated through grants, tax credits, and red tape reduction. She wants to give first-time homebuyers $25,000 in down payment assistance.

Tough Questions on Past Statements

Both candidates faced questions about comments they made in the past.

Walz was asked about his claim that he was in Hong Kong when the June 4, 1989, Tiananmen Square massacre occurred.

It was later found that Walz had arrived in China in August of that year, making it impossible for him to have been there then.

Beijing residents inspect the interior of one of over 20 armoured personnel carrier burnt by demonstrators to prevent the troops from moving into Tiananmen Square 04 June 1989. MANUEL CENETA/AFP via Getty Images

When pressed by moderators about the claim a second time, Walz said he misspoke.

He added that he was a “knucklehead” at times and “got caught up in the rhetoric” when he made the claim.

Vance was also asked about his past comments about Trump, including comments published by The Washington Post in which Vance was critical of Trump’s economic performance as president.

Vance did not deny the reported messages but blamed Congress for holding Trump’s agenda back, saying there “were a lot of things on the border, on tariffs.”

Trump “could have done so much more if the Republican Congress and the Democrats in Congress had been a little bit better about how they governed the country,” Vance said.

Speaking on other past comments critical of his running mate, Vance repeated his regret for the comments, saying,  “I was wrong about Donald Trump.”

“Donald Trump delivered for the American people, rising wages, rising take-home pay, an economy that works for normal Americans, a secure southern border,” Vance said. “When you screw up, when you misspeak when you get something wrong, and you change your mind, you ought, to be honest with the American people.”

https://www.zerohedge.com/markets/post-debate-vance-vanquishes-knucklehead-walz-muting-moderators

Humana Plunges as Insurer Falters on Medicare Star Ratings

  Humana Inc. shares plummeted the most in 15 years after the insurer suffered a drop in Medicare Advantage quality ratings, posing a drastic threat to revenue.

About a quarter of members in plans that Humana manages for the US Medicare program for the elderly were in four-star rated plans, down from 94%, Humana said Wednesday. Higher rated plans generate bonus payments to insurers. The company said it believed there may be errors in calculations by the Centers for Medicare and Medicaid Services and that it had appealed some of the results.

The shares fell 22% when markets opened in New York, the most since 2009.

The result would be catastrophic for the Medicare-focused insurer if it stands. Humana has already has seen profits squeezed by medical costs and tighter reimbursements from the government. Insurers get more money in future years for top-rated plans, so cuts to the ratings, known as stars, can sink revenue.

The ratings assess the quality of care and customer service for private Medicare health plans that now cover more than half of all people in the program. It’s a high-stakes calculation for insurers that drove an estimated $11.8 billion in bonus payments to insurers this year, including $2.5 billion to Humana, according to health researcher KFF.

Earnings Hit

Humana could see an earnings hit of $9 a share in 2026 if ratings on its main Medicare contract fell below the level that earns bonuses, a Jefferies analyst said last week. The company confirmed in a filing Wednesday that that contract, which covers almost half of Humana’s Medicare Advantage membership, had slipped in ratings for 2025.

The cut to ratings “is far worse than even bearish investors believed would be the outcome,” Mizuho’s Jared Holz wrote Wednesday in a note.

The ratings aren’t expected to impact the company’s financial outlook for 2024 or 2025, Humana said, adding that it was “disappointed with its performance and has initiatives underway focused on improving its operating discipline and returning to an industry leading Stars position as quickly as possible.”

The cut adds to the hurdles faced by Humana Chief Executive Officer Jim Rechtin, who took over in July. Other companies have successfully challenged Medicare’s assessment of their quality ratings. Elevance Health Inc. and the nonprofit SCAN Health Plan last year sued CMS over how their ratings were assessed, ultimately recovering money that was at risk.

Ridiculous ‘fact check’ of a true statement during CBS debate

 Sen. JD Vance was accurately describing the migrant crisis fueled by Kamala Harris and Joe Biden when CBS moderator Margaret Brennan decided to insert herself with a “fact check.”

“Just to clarify for our viewers, Springfield, Ohio does have a large number of Haitian migrants who have legal status,” she said smugly.

Vance was rightly annoyed by the interruption and said, “The rules were that you guys weren’t going to fact-check, and since you’re fact-checking me, I think it’s important to say what’s actually going on.”

Vice presidential candidate JD Vance was fact-checked by the CBS News moderators while discussing the migrant crisis.
Vice presidential candidate JD Vance was fact-checked by the CBS News moderators while discussing the migrant crisis.Photo by Chip Somodevilla/Getty Images

He then proceeded to truthfully, forcefully explain what “legal status” means:

“So there’s an application called the CBP One app, where you can go on as an illegal migrant, apply for asylum or apply for parole, and be granted legal status at the wave of a Kamala Harris open border wand.”

At which point CBS decided to CUT OFF HIS MIC.

This was the most shameful moment in a long history of shameful moments by moderators biased against Republicans. They “fact-checked” the truth, then stopped the politician from responding.

It was made all the more partisan by the fact that when Gov. Tim Walz told the howler that “illegal border crossings are down compared to when Donald Trump left office,” which is not even close to true, no one let out of a peep. Some “facts” are too good to check.

Margaret Brennan interrupted Vance to comment about the Haitian migrants in Springfield, Ohio.
Margaret Brennan interrupted Vance to comment about the Haitian migrants in Springfield, Ohio.REUTERS

Not to be left out, the New York Times posted that Vance’s comments “needed context.”

“There is no way for migrants abroad to apply for asylum through an app,” the Times claimed. “The Biden administration, however, established an app that allows more than 1,000 migrants a day to schedule appointments at a port of entry where they can be granted parole into the country through the CBP One app. The migrants can then apply for asylum once they are in the United States in immigration proceedings.”

Ah. So if someone made an appointment through the app, showed up at the border or an airport, they are going to apply for asylum, right? Is there any chance they would be rejected and sent home? No? Then yes, they are applying for asylum through an app.

The Times is relying on such an idiotic parsing of phrase that there’s only one word to describe it: a lie.

What Vance was explaining is absolutely, verifiably correct. There is no congressional authorization for the Biden-Harris administration to simply allow 1,000 people a day, 365,000 a year, to just walk across the border.

Moreover, asylum law requires that seekers apply in the first safe country they enter. The White House is ignoring that rule. Venezuelans can walk through a half-dozen nations where they could apply for asylum, and they still let them apply here. They aren’t required to remain in Mexico while their applications are processed, as former President Donald Trump required.

Not to mention that someone can only be granted asylum for political, religious or racial persecution, not only because they want better economic opportunity. The process is being abused. And if the Democrats have their way, everyone who is here on an “asylum” claim will never be deported, whether their court claim succeeds or not.

So yes, the Haitians of Springfield have “legal status.” But that’s only because Kamala Harris and Joe Biden are ignoring the law.

This was a nationally televised example of why the elite’s obsession with “misinformation” and “fact checking” is a load of horse manure. They don’t want to tell the truth. The Democrats want to shut off the microphone of anyone who asks the “wrong” questions or says the “wrong” thing. They want to purge X and Facebook and TikTok of any opinions that make them look bad.

JD Vance was telling the truth about immigration. And that’s why they had to shut him up.

https://nypost.com/2024/10/01/opinion/ridiculous-fact-check-of-a-true-statement-during-cbs-debate/

Tuesday, October 1, 2024

Bio-Rad upped tp Buy from Neutral by Citi

 Target to $400 from $350

https://finviz.com/quote.ashx?t=BIO&p=d

Government touts $2B in EV subsidies while automakers shift strategies

Consumers have saved $2B in electric vehicle purchases since the beginning of the year as a result of credits offered by the U.S. government, the Treasury Department said on Tuesday.  

As part of the Inflation Reduction Act, new electric vehicles were eligible for a credit of up to $7,500. The credit was available at the point of sale rather than when buyers file their taxes, a method preferred by consumers. The credit is only available to taxpayers will a joint income less than $300K and less than $150K for individuals filing separately.

According to data from Energy Innovation Policy & Technology, EV owners can save $18K to $24K over the lifetime of an EV in fuel costs over the purchase of a comparable ICE vehicle while the Department of Energy estimates that drivers can save $2,200 per year on a fully electric vehicle and $1,500 on a hybrid.

But even as the government offers enticements to encourage adoption of EVs over ICE vehicles, U.S. consumers have yet to fully embrace the electrification of the auto industry, preferring hybrids to EVs. This has prompted the major automakers to re-evaluate their manufacturing strategies.

And even while Tesla (NASDAQ:TSLA) has opened up its EV charging network to competitors, Detroit’s Big 3 are trimming their EV production targets to adjust to flattening consumer demand. General Motors (NYSE:GM) lowered its EV production targets by 50K for 2024, and Ford (NYSE:F) recently said its heightened focus on profitability and capital efficiency means more “electrification options” to include vehicles with lower prices and longer ranges, prioritizing the manufacture of hybrids.

Even Tesla (TSLA) the standard-bearer of the EV industry saw its Q1 sales decline for the first time in 2024, while Q2 sales were down 4.8% year-over-year. 

https://www.msn.com/en-us/money/companies/government-touts-2b-in-ev-subsidies-while-automakers-shift-strategies/ar-AA1ry4ue