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Monday, August 25, 2025

DNC agreed to pick up tab for over $20M of Kamala Harris campaign debt in ‘handshake deal’

 Former Vice President Kamala Harris and the Democratic National Committee (DNC) made a “handshake deal” after her massive defeat in the 2024 presidential election, which saw the party cover all of her outstanding campaign bills, according to a report. 

Under the terms of the private agreement, the cash-strapped DNC paid off about $20.5 million in debts owed by the Harris campaign in exchange for the failed Democratic presidential nominee’s pledge to raise money for the Democratic Party to make the entity “whole financially,” the New York Times reported on Monday. 

Federal Election Commission records show several six-figure sums the DNC has doled out to pollsters, printers, consultants, charter airlines and numerous event production companies, on behalf of Harris, since the presidential election. 

One event production company, Freeman, has received nine separate payments from the DNC since last December, totaling about $3.5 million. 

Photo of Kamala Harris speaking.
The DNC has thus far paid about $20.5 million in Harris campaign bills since her loss to President Trump.REUTERS

The Harris campaign put on several star-studded concerts in the days leading up to Election Day, and spent an eye-popping $1.5 billion during the former vice president’s 15-week run, only to lose all the popular vote, the Electoral College and all seven swing states to President Trump.

In June, the DNC had touted raising “a record $40 million” in the first four months of Chairman Ken Martin’s tenure, a figure “more than any other chair in that time frame.” 

However,  the committee went into 2025 with $22.1 million on hand and ended July with only $13.9 million, in large part due to the deal to pay off Harris’ debts, FEC records show. 

Harris’ deal with the DNC was not disclosed to the former VP’s donors, and she has continued to solicit funds from her network of supporters with the stated purpose that the money would be going toward future election cycles – when it’s actually going to settle her old bills. 

“They will put your donation to work immediately toward winning the next set of elections,” Harris wrote in one February email to supporters, according to the New York Times. 

DNC 2024 signage at the United Center in Chicago.
The DNC has made several six-figure payments to consultants, pollsters and event production companies since last December on behalf of Harris.Bloomberg via Getty Images

The outlet reported that the DNC is maintaining “a ledger” to keep track of how much Harris is raising compared to what bills of hers the party has paid off. 

The most recent Harris campaign expense the DNC has footed the bill for was to Howard University, in the amount of $498,287.30. 

The historically black college, where Harris went to undergrad, is also where the former vice president made her concession speech. 

The DNC did not respond to The Post’s request for comment.

https://nypost.com/2025/08/26/us-news/dnc-agreed-to-pick-up-the-tab-for-more-than-20m-of-kamala-harris-campaign-debt-in-handshake-deal-report/

US Fighters Intercept Russian Aircraft Off Alaska 3 Times In A Week: NORAD

by Jack Phillips via The Epoch Times,

U.S. fighter jets were scrambled for a third time in less than a week on Aug. 24 to intercept Russian military planes flying near Alaska, the North American Aerospace Defense Command (NORAD) said in a statement.

On Sunday evening, NORAD confirmed that it detected and tracked a Russian IL-20 COOT surveillance aircraft that was operating within the Alaskan Air Defense Identification Zone (ADIZ).

In response, NORAD scrambled an E-3, two F-16s, and two KC-135 tankers to intercept and identify the Russian plane in the Alaskan zone, the statement added. The statement did not provide other details on exactly where the encounter occurred.

“The Russian military aircraft remained in international airspace and did not enter American or Canadian sovereign airspace,” NORAD said.

“This Russian activity in the Alaskan ADIZ occurs regularly and is not seen as a threat.”

An identification zone starts “where sovereign airspace ends and is a defined stretch of international airspace that requires the ready identification of all aircraft in the interest of national security,” NORAD noted.

Over the past week, NORAD dispatched military planes twice to respond to Russian IL-20 aircraft operating in the ADIZ. In no instances did the Russian aircraft enter U.S. airspace.

The planes were scrambled on Aug. 21 and Aug. 20, according to statements from NORAD, which last deployed planes to respond to Russian aircraft in July.

“NORAD employs a layered defense network of satellites, ground-based and airborne radars and fighter aircraft to detect and track aircraft and inform appropriate actions,” the command said in its statement issued on Aug. 24.

NORAD, which is jointly operated by the U.S. and Canadian militaries, also “remains ready to employ a number of response options in defense of North America,” the statement added.

Sunday’s NORAD mobilization marked the seventh time this year that Russian planes entered the ADIZ, according to press releases issued by NORAD. A review of news releases issued by the command shows that Russian aircraft made similar moves dozens of times in 2024 and 2023.

In September 2024, NORAD released footage of a Russian plane flying “within just a few feet” of U.S. military aircraft near the coast of Alaska, prompting a general to say at the time that the Russian Su-35 plane’s conduct “was unsafe, unprofessional, and endangered all.”

The recent encounter comes a week after President Donald Trump held a meeting with Russian President Vladimir Putin in Anchorage, Alaska, to hash out a peace deal to end Russia’s conflict in Ukraine.

On Sunday, Vice President JD Vance said that Russia has made “significant concessions” toward a negotiated settlement in its war with Ukraine and was confident that progress was being made.

“I think the Russians have made significant concessions to President Trump for the first time in three and a half years of this conflict,” Vance said in comments aired on Sunday by NBC News’ “Meet the Press.”

He also said that Russia has “recognized that they’re not going to be able to install a puppet regime in Kyiv.”

“That was, of course, a major demand at the beginning. And importantly, they’ve acknowledged that there is going to be some security guarantee to the territorial integrity of Ukraine,” Vance said.

https://www.zerohedge.com/military/us-fighters-intercept-russian-aircraft-alaska-3-times-week-norad

Hyundai to Lift US Investment to $26 Billion After Lee Visit

 


Hyundai Motor Group will increase its investment in the US to $26 billion through 2028, as it seeks to expand autos, steel and robotics production, underscoring the South Korean conglomerate’s deepening economic ties with Washington.

The four-year plan marks a $5 billion increase from the $21 billion the company initially unveiled in March, the group said in a statement Tuesday. The package includes a new steel mill in Louisiana, expanded auto production, and a robotics facility capable of building 30,000 units a year, together creating 25,000 additional jobs.

https://www.bloomberg.com/news/articles/2025-08-26/hyundai-to-lift-us-spending-to-26-billion-after-trump-lee-meet

Why More Farmers Are Turning To AI Machines

  by Autumn Spredemann via The Epoch Times,

Artificial intelligence-powered harvesters, drones, and precision farming systems are quickly entering the mainstream of American agriculture. At its core, the technology promises efficiency and sustainability and carries a potential solution to a decades-old farming problem: the need for physical labor.

As the capabilities of robotics evolve, many jobs that once required human hands are being delegated to machines. Some artificial intelligence (AI) developers working on integrating this technology into America’s farms say early data support the possibility of a major farm labor force reduction.

The American Farm Bureau Federation estimated 17 percent of all U.S. agricultural labor in fiscal year 2024 comprised temporary migrant workers brought in under the H-2A visa program.

There are also millions of illegal immigrant workers, who, according to the United States Department of Agriculture (USDA) made up 42 percent of farm workers from 2020 to 2022.

Roman Rylko, chief technology officer  of Pynest, said his company has worked with vegetable growers in the Midwest to deploy AI systems.

“We built the onboard model that lets an autonomous weeder separate spinach seedlings from pigweed in real time. A single rig now clears a 50-acre block in about eight hours. Before, that job meant a crew of 10 walking the rows for two days,” he told The Epoch Times.

Rylko’s firm works with growers to implement machine-learning models into field-deployable robotics.

“Autonomous tractors won’t kill field labor; they’ll move it up the stack, from stoop work to sensor maintenance and fleet orchestration,” he said.

“Our growers cut seasonal hand-weeding hours by roughly 70 percent, yet hired two techs to keep cameras clean, retrain the model on new cultivars and swap battery packs.”

Migrant farmworkers harvest lettuce in Brawley, Calif., on Dec. 10, 2024. U.S. agriculture has long relied on migrant labor, but advances in robotics and AI could significantly reduce the farm workforce. Sandy Huffaker/AFP via Getty Images

Rylko cited data from a recent AI-powered machine trial.

“Our last trial logged 1.6 million weeds pulled per day—equivalent to 12 workers—at 32 percent lower total cost per acre,” Rylko said.

“The grower’s biggest surprise wasn’t speed, it was consistency. Robots don’t call in sick during peak weed flush.”

Among the producers paving the way for AI in the fields is Wish Farms, a Florida-based berry grower that has been experimenting with robotic harvesters in response to persistent labor shortages.

Wish Farms grows strawberries, one of the most labor-intensive commercial row crops. In collaboration with Harvest CROO Robotics, Wish Farms has test-piloted an all-in-one crop solution with an AI-powered machine.

Joe McGee, the CEO of Harvest CROO Robotics, told The Epoch Times that strawberries are an ideal place for AI to step into the farm labor scene.

“Strawberries need to be picked every three days. It’s one of the most dense labor crops you could pick,” he said.

This is where automated crop management can offer what McGee called a “pick to pack” solution.

“The company completed its first commercial runs of fully autonomous strawberry harvesting earlier this year and in the 2024–2025 Florida season,” McGee said.

“Our harvester, robotics system, and AI have been autonomously harvesting strawberries in production fields, and we’ve shipped revenue-generating berries.”

Roughly the size of a shipping container, the AI-powered, camera-guided machine McGee described crawls between rows of berries, its robotic arms rapidly identifying and yanking the delicate produce for weighing and packing. Normally, this work could take a stooped labor force days to complete, depending on the weather, heat index, and amount of daylight hours available.

It takes about 16 hours for the AI harvester to complete the same work. The machine can perform the equivalent work of 25 human laborers, according to McGee.

An attendee watches the smart farming Doosan Robotics M1013 (L) robot demonstrate its capabilities at CES 2022 at the Las Vegas Convention Center on Jan. 6, 2022. The M1013 can measure the sweetness of fruit and harvest them without bruising. It can also be used for seeding, watering, planting, and pesticide spraying. Ethan Miller/Getty Images

The AI-powered harvester also does more than just pick strawberries. It performs the complete sequence of tasks from transitioning between rows to scanning, identifying, and picking ripe berries. They are then sanitized and chilled to prepare for immediate packaging.

This is a more critical part of the process than most realize. If a strawberry is picked, weighed, and packaged, but not up to grade for retail selling, it will get rejected. This can cost a producer a lot of money. Three percent of a crop can be lost in packaging alone, while retail distribution accounts for another 18 percent of produce losses, according to the USDA.

“Food may be left unharvested in a field or not sold by a distributor for a variety of economic reasons, including price volatility, labor cost, lack of refrigeration infrastructure, consumer preferences, quality-based contracts, and various policies related to produce,” the USDA stated.

According to McGee, seasonal workers have monetary incentives to harvest the largest possible volume, so their judgment on quality isn’t always aligned with retail sale requirements. This is where AI-harvesters can step in and make a no-stakes decision based on programming.

McGee said after the initial cosmetic analysis, the strawberries go to the upper deck of the AI harvester, where it has to pass the weight test. If the product is underweight by retail standards, it won’t be packaged.

“The error rate of human pickers is around 10 percent, but with AI, we can get that down to zero,” McGee said.

Rylko and McGee aren’t the only ones who see a promising partnership between AI and agriculture. University studies and field tests are being conducted with AI robotics in North Carolina, Georgia, and Iowa for yield monitoring, weeding, pest control, and harvesting. All of these jobs currently require a substantial amount of manual labor.

“We’re living in very exciting times for AI and agriculture,” said Baskar Ganapathysubramanian, director of the AI Institute for Resilient Agriculture at Iowa State University.

“We’re going to see significant progress in the next decade.”

Meanwhile, heavy equipment manufacturers such as John Deere have also entered the AI farming race with fully autonomous tractors that can plow and plant without a driver in the cab.

Beyond picking and packing, a 2023 study published in AI & Society supports the position that AI may be able to resolve the long-standing issue of farm labor shortages. Last year, there were an estimated 2.4 million agricultural job openings in the United States, and 56 percent of farmers reported worker shortages.

Changing Seasons

For decades, the U.S. agricultural sector has depended heavily on migrant workers, particularly acquired through the H-2A visa program, which allows foreign workers to take temporary agricultural jobs. As more farms turn to AI for solutions, the long-term role of these seasonal workers is uncertain.

In a Baker Institute for Public Policy report, researchers found that foreign workers—legal and illegal—play a “disproportionate role in ensuring a reliable supply of food for American households.”

A recent Kaiser Family Foundation analysis found that 47 percent of all U.S. agricultural workers are illegal immigrants without proper work authorization, while 18 percent are noncitizens, with legal working status.

Around 400,000 certified H-2A workers arrive in the United States annually, according to the USDA.

Migrant farmworkers harvest spinach near Coachella, Calif., on Feb. 24, 2017. H-2A visa workers constituted about 17 percent of U.S. farm labor in fiscal 2024, according to American Farm Bureau Federation estimates. David McNew/AFP via Getty Images

But McGee has seen how even legal workers can be expensive, complicated, and unreliable for producers.

A farmer pays thousands of dollars to bring the seasonal workers in, transport and house them, then McGee said many simply “abscond” before or near the end of their work contract.

“So the issue is getting the people, the cost of the people, and the reliability of having them for the whole season,” he said.

Rylko said his company’s early testing supports the idea of a reduced need for human labor.

“Relative gains and the shift in labor profile are representative of what we’re seeing across several [AI-machine] deployments,” he said.

Nonetheless, it will take time and a lot of investment to meet the existing demand from American farms. Machine labor or otherwise.

Like all new technologies, AI-driven farm equipment comes with hefty upfront costs into the tens of thousands. This could deter smaller agricultural producers. Base prices for autonomous tractors are around $500,000, without including maintenance and electricity needs.

McGee said his company validated their AI-powered harvester this year, but is currently facing funding hurdles to reach the next stage because this emerging technology is still an “unstructured market.”

“Right now, we have one harvester, but the demand [from other farms] is 1,500. We have a grower in Florida that placed an order for 165 machines,” he said.

Investment in the AI-agriculture market was valued at just under $2 billion in 2023, according to Grand View Research, and it is expected to surge at a compound annual growth rate of more than 25 percent per year through 2030.

https://www.zerohedge.com/technology/why-more-farmers-are-turning-ai-machines

Biotech Ardelyx Lines Up Four Major Wall Street Healthcare Conference Appearances in Sept



Ardelyx (NASDAQ:ARDX), a biopharmaceutical company focused on developing first-in-class medicines, has announced its participation in four major investor conferences in September 2025:

Citi Biopharma Back to School Summit in Boston (Sept 3)
Cantor Global Healthcare Conference in New York (Sept 4)
Morgan Stanley 23rd Annual Global Healthcare Conference in New York (Sept 8)
H.C. Wainwright 27th Annual Global Investment Conference in New York (Sept 9)



Live webcasts of the fireside chats and presentations will be available on Ardelyx's investor relations website, with replays accessible for 30 days after each event.

Artisan on Upside Potential of Madrigal Pharmaceuticals

 Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Global markets saw an incredible but volatile second quarter, shifting from deep declines to strong gains. In the quarter, its Investor Class fund ARTSX returned 7.30%, Advisor Class fund APDSX posted a return of 7.33%, and Institutional Class fund APHSX returned 7.36%, compared to a return of 11.97% for the Russell 2000 Growth Index. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2025.

In its second-quarter 2025 investor letter, Artisan Small Cap Fund highlighted stocks such as Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL). Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) is a biopharmaceutical company. The one-month return of Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) was 40.97%, and its shares gained 62.11% of their value over the last 52 weeks. On August 22, 2025, Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) stock closed at $414.68 per share, with a market capitalization of $9.243 billion.

Artisan Small Cap Fund stated the following regarding Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) in its second quarter 2025 investor letter:

"Notable buys in the quarter included BWX Technologies, Wingstop, and Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL). Madrigal Pharmaceuticals is a commercial-stage biotechnology company focused on treating metabolic dysfunction-associated steatohepatitis (MASH), a serious liver disease with high unmet medical need. Madrigal’s lead drug, RezdiffraTM, is the first and only FDA-approved medication to target liver fibrosis, demonstrating high efficacy with minimal side effects. Given the significant failure rates of previous treatments for this condition, we are confident in the company's ability to maintain a competitive edge and further differentiate itself in the market. Additionally, there is potential to expand its application to more advanced stages of liver fibrosis."


https://finance.yahoo.com/news/believe-upside-potential-madrigal-pharmaceuticals-130157124.html

The Student Debt Racket

 by Derek Foster via Mises.org,

The student debt crisis isn’t a natural market phenomenon; it’s the predictable result of decades of government interference. Since 1980, average tuition and fees have increased by 1,200 percent, while consumer price inflation has risen only 236 percent over the same period. This massive increase has left students and families struggling to keep up, often forcing them to take on substantial debt just to attend college. Today, over 42.7 million Americans owe a combined $1.69 trillion in federal student loan debt. A combination of federal policies, including subsidized loans, government grants, bloated university budgets, and a complete lack of accountability, has fueled the relentless rise in tuition costs. As a result, higher education—once seen as a path to opportunity—has become a debt trap for millions.

Why 1980?

In 1978, Congress passed the Middle Income Student Assistance Act, making federally-subsidized loans available to nearly all students, not just those with low incomes. It took two years to fully roll out loans to the newly-eligible student population. Once 1980 began, tuition rates started their steady climb. Making student loans available to more people seems like a benign policy on its face, but it sent tuition prices soaring for decades.

Universities serve one of the poorest age/education demographics in the United States: young adults without a college degree. Since their target market was short on cash, universities had to be sensitive to tuition prices; otherwise, students couldn’t afford to attend. Before 1980, students had to work during college to pay as they went or work after high school to save as much as possible before enrolling. Once subsidized loans became available, students could borrow the full cost of college with the expectation of higher post-graduation earnings and easy debt repayment. Never mind the taxpayer picking up part of the interest expense. College administrators quickly realized that since students didn’t have to pay up front in cash anymore, price sensitivity was no longer a limiting factor. Universities could raise prices and pursue pet projects like social change, costly sports programs, bloated staffing, and luxurious amenities.

study by the New York Federal Reserve found that for every dollar the maximum loan limit increased, average tuition rose by 60 cents. This astonishing pass-through rate makes raising subsidized loan caps completely ludicrous. Originally, only the poorest students needed subsidized loans. But as more loans originated, tuition spiraled out of control, requiring more students to borrow until we reached today’s crisis of unaffordable tuition.

Follow the Money

The vicious cycle is obvious. So why not stop raising the loan maximums? Because higher education is a $200+ billion industry. Even in the public university system, an entrenched bureaucracy is getting wealthy off high tuition. The corrupt cycle looks like this: university administrators and faculty unions donate to left-wing super PACs. In return, they ask for increased student loan limits and more federal grants under the banner of increasing “affordability” for students. Universities then raise tuition and funnel the new money into raises, administrative expansion, and campus construction projects. Then, faculty members continue indoctrinating students to vote for far-left candidates, and the racket continues.

Forbes article stated the following:

Between 1976 and 2018, full-time administrators and other professionals employed by those institutions increased by 164% and 452%, respectively. Meanwhile, the number of full-time faculty employed at colleges and universities in the U.S. increased by only 92%, marginally outpacing student enrollment which grew by 78%.”

University administrators are not using the increased tuition revenue to create smaller class sizes or improve student’s education. They are inflating the bureaucracy to create a colossal social justice organization.

Graduation now depends on ideological coursework; every student in the California State University system’s 23 campuses must take a class in ethnic studies or social justice. The point is twofold: indoctrinate students in radical leftist ideology and create education jobs for graduates with useless degrees like San Francisco State’s Social Justice Education program. It’s a pyramid scheme designed to enrich the academic elite and cement progressive dogma in the young professional class.

Universities are so effective at converting students into activists that the education system can’t even afford to employ them all. We have begun to see the private sector’s culture shift to placate the radical employees coming out of colleges. So many young adults have fallen under the spell of left-wing cultural ideology that an entirely new industry has appeared out of thin air. “Diversity, Equity, and Inclusion” training and consulting is now a $15 billion industry. Firms now feel obligated to create mandatory training programs under pressure from young employees. These consulting fees are nothing but tributes to activists in exchange for a “Get-Out-Of-Jail-Free” card in case an employee says something in public contrary to leftist social doctrine. While universities have succeeded at getting rich by indoctrinating students and poisoning our culture, they’ve also buried an entire generation in debt.

The Collectivists’ Role

The same collectivists who built this broken system now insist on fixing it—by expanding it. As Bernie Sanders described in a recent interview with Joe Rogan, the solution to a $500,000 medical degree is more subsidies.

He sees public colleges gouging students with government-backed aid and calls for even more intervention. He lacks the self-awareness to see that his ideology created this crisis. His support for ever-growing bureaucracy and government control led to a $1.69 trillion student debt bomb, with 42.7 million borrowers.

Now he’s adamant that this enormous financial burden be shifted onto taxpayers.

US higher education is a prime example of how collectivists take control of a system, corrupt it, and then raid taxpayer coffers to cover the damage. All the while, they accuse small-government advocates of being heartless and blame them for the very crisis the collectivists created.

The Forgotten Taxpayer

Lost in this conversation is the taxpayer, who’s also getting shafted. State governments continue to fund bloated universities because even federally-subsidized tuition isn’t enough to pay for the massive bureaucracy. Meanwhile, taxpayers are forced to cover the interest on ballooning student debt.

Americans who couldn’t afford college and chose to work, are now paying taxes to subsidize the degrees of their higher-earning peers. This collectivist pyramid scheme is a naked power grab designed only to expand the education system, enrich insiders, and reward those who continue to partake in the scheme.

https://www.zerohedge.com/personal-finance/student-debt-racket