More Than Half Of Gen Z Investors Have Moved Money Into Sports Bets

A growing share of young Americans is folding sports gambling into their long-term financial plans, according to new research from the investment platform Betterment.

In an online survey of 1,000 U.S. retail investors conducted in late March and early April and released this week, 52% of Gen Z investors said they had shifted money originally set aside for stocks or other investments into sports wagers over the past year. Only about one-third of Gen Z participants reported no involvement in sports betting at all, compared with 63% across all age groups in the survey.

26% of Gen Z respondents - those born between 1997 and 2007 - said they view sports betting as a deliberate, ongoing part of their wealth strategy. That figure drops sharply with age: 14% of millennials, 6% of Gen X, and just 1% of baby boomers reported the same outlook.

Of those Gen Z respondents, roughly 11% described betting as an investment strategy aimed at high returns, while 15% treated it as a short-term way to raise cash.

The betting numbers sit inside a broader shift in where young investors get their information. Social media is now Gen Z's most commonly cited source for financial news, rising from 45% in 2024 to 60% this year - nearly three times the 21% who cite a financial advisor.

The findings highlight how the rapid growth of legal sports gambling and prediction markets is competing for the same discretionary dollars that once flowed into retirement accounts and brokerage portfolios. The state-regulated sports betting industry in the United States has expanded into a nearly $17 billion business in recent years. Prediction markets have also surged; Robinhood Markets, long known for democratizing stock trading, added them to its app in 2025 and has called the segment its fastest-growing business line ever.

Betterment Chief Executive Officer Sarah Levy warned that the trend carries risks. "When a prediction market or sportsbook starts to feel like a retirement strategy, we have a problem," she said in a statement. "These products are designed to keep people seeking the next quick score, not to help them build toward the next decade. Younger investors deserve access to the tools and information that meet them where they are, but the industry also has a responsibility to be clear about the difference between participating in a trend and building lasting wealth."

Robert Kosciuk, a 32-year-old from Huntington, New York, illustrates the shift - maintaining a Robinhood account for stocks but devoting more energy this year to betting, Bloomberg reports. He says he approaches sports wagers with the same discipline he applies to investing: researching outcomes carefully, avoiding emotional decisions, and limiting most bets to $100. He acknowledges the activity is gambling but believes he manages it more thoughtfully than casual players. So far this year he has earned roughly $2,500, enough to cover a vacation he attributes in part to successful bets on the Carolina Hurricanes.

Industry representatives push back on the idea that betting should be treated as investing. Joe Maloney, president of the Sports Betting Alliance - whose members include FanDuel, DraftKings, Fanatics Betting & Gaming, bet365, and betMGM - told Bloomberg that sports wagering is entertainment, not a wealth-building strategy. Adults who choose to bet, he added, should do so responsibly within a fixed entertainment budget and never with money needed for savings or essentials.

Broader economic pressures may be amplifying the appeal of high-risk options. Eighty percent of Gen Z respondents who already use or are considering speculative investments said concerns about falling behind financially played a role, according to a Northwestern Mutual study of 4,357 adults conducted by the Harris Poll in January. As homeownership grows more difficult and everyday costs rise, some younger adults are turning to sports betting, prediction markets, and crypto in hopes of accelerating progress toward their goals.

The Betterment survey also examined how investors make decisions. 56% percent said they rely primarily on their own research and judgment - more than any other single source. That self-reliance increased with age, rising from 40% among Gen Z respondents to 69% among baby boomers. About one in three participants reported trusting artificial intelligence for financial advice. Of those, 53% said AI had prompted a decision they would not otherwise have made, including 48% of all Gen Z respondents. Gen Z investors were eight times more likely than baby boomers to say they were comfortable using AI for long-term financial planning - 41% against 5%.

The survey polled 1,000 U.S. retail investors between March 27 and April 3, split evenly across four generations, meaning each generational figure rests on roughly 250 respondents. Participants were recruited through an incentivized online panel and were required to hold at least one investment outside a 401(k).

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More Than Half Of Gen Z Investors Have Moved Money Into Sports Bets

Ukraine Hits Key Russian Space Facility With Flamingo Cruise Missiles

Ukraine's long-range drone attacks have frequently targeted military bases and oil refinery and energy sites of late, and more recently warehouses of major Russian online retailer Wildberries - but on Saturday a new target has been added: space facilities.

Ukrainian forces have touted that they've struck the Progress Rocket and Space Center in Russia's Samara region. The facility focuses on the manufacturing and operation of space launch vehicles.

Illustrative: Baikonur Cosmodrome, Space.com/NASA

Ukrainian President Volodymyr Zelensky said on X that Ukraine hit the space manufacturing center with FP-5 Flamingo cruise missiles - among the largest in Ukraine's arsenal, and which are domestically developed and produced.

He said it was necessary to target Russian space agency Roscosmos as among Russia's "key enterprises" - and that the targeted site was also involved in "electronics production" connected to military operations.

Other sites targeted in the fresh wave of attacks included Savasleyka air base in the Nizhny Novgorod region, which hosts aircraft used to attack Ukraine, as well as an oil facility in Ust-Luga, which lies close to the Estonian border.

"Our plan of long-range sanctions against Russia for this war is being implemented, and it is important that Russia’s war potential be reduced," Zelensky stated.

Ukrainian national media offered this as a backgrounder:

The “Progress” Rocket and Space Center is one of the key enterprises in the Russian Federation’s rocket and space industry, producing launch vehicles of the “Soyuz” family. These are used to launch Russian spacecraft for military, reconnaissance, and communications purposes into orbit.

In particular, the “Soyuz-2.1b” is used to deploy the Russian “Rassvet” satellite constellation – a broadband satellite communications system that Russia positions as an analogue to Starlink.

The Progress Rocket and Space Center also manufactures Earth observation satellites, which the enemy uses for reconnaissance purposes.

Russia also attacked Ukraine overnight, as has long been the norm. Over 150 Russian drones were sent on the country, with Ukrainian forces claiming shootdown or neutralization of 124 of these, according to a military statement.

Ukraine has struck a facility used in the production of Russia’s new satellite internet system.

Kyiv deployed Flamingo cruise missiles to target the Progress Rocket Space Centre in Samara, south-western Russia, in an overnight attack, Volodymyr Zelensky said on Saturday ⤵️… pic.twitter.com/eoalkZcMgz

— The Telegraph (@Telegraph) August 15, 2026

The fresh onslaught resulted in dozens of injures. As for potential casualties inside Russia, little is yet known of this in terms of secretive space and airbase facilities targeted.

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Ukraine Hits Key Russian Space Facility With Flamingo Cruise Missiles

Energy Drinks Overtake Coffee As Gen Z's Primary Caffeine Source

Filippo Falorni, Citi’s lead US equity-research analyst covering beverages and household and personal-care companies, published his latest survey of 2,400 US energy-drink consumers, revealing a significant generational shift in caffeine consumption.

Energy drinks, led by category giants Red Bull, Monster, and others, have overtaken coffee as the primary caffeine source among Gen Z consumers. In other words, younger Americans are increasingly abandoning the morning cup of coffee, even as Millennials, Gen Xers, and Baby Boomers continue to rely on it for their daily boost.

Among respondents aged 16 to 24, 30.6% now identify energy drinks as their primary caffeine source, up from 20.6% last year. Coffee fell to 27.3% from 40.4%, meaning energy drinks have overtaken coffee among the youngest cohort surveyed. Across all older age groups, coffee is the primary source of morning caffeine.

Falorni added more color: 

Based off our survey results, younger consumers are increasingly comfortable with using energy beverages as their primary caffeine source, with 30.6% and 24.3% of 16-24 and 25-34 year-olds, respectively, reporting energy drinks are their primary source of caffeine, up markedly from 20.6% and 19% in our 2025 survey and above the 23.6% for total respondents (vs. 16.6% in 2025) and only 12% for the 55+ age group (vs. 7.7% in 2025). We also highlight that coffee consumption is lowest for the youngest demographic we surveyed, with only 27.3% of 16–24-year-olds stating coffee was their primary caffeine source (down significantly from 40.4% in 2025) vs. 40.8% for total respondents (also down from 47.4% in 2025) and 60.4% for the 55+ age group

Looking specifically at energy drink consuming respondents, we can see the coffee category has been the largest share donor to energy beverages across all age groups, with 45% of all respondents reporting coffee was their primary source of caffeine before switching to energy beverages vs. 30% for soft drinks and 10% for tea. 

Other compelling findings in the survey:

• Women accounted for 58% of consumers who entered the category during the past year, compared with only 29% of consumers who have been drinking energy beverages for six years or longer.
• Zero-sugar products now represent about 49% of US energy-drink sales, up from 37% in 2021.
• Energy-drink prices have risen only 4.9% since late 2021, compared with 42% for soda and 47% for coffee, giving Monster and Red Bull considerable room to raise prices.
• About 40% of respondents increased their energy drink consumption over the past year, while just 20% reduced it.
• Brand loyalty is soft: 51% switched their primary brand during the past year, making flavor innovation and shelf space critical.
• Monster and Red Bull control about 70% of the market despite a surge of challenger brands.

In markets, Monster is outperforming Celsius year-to-date: 

Our latest coverage in the space includes the report that Rockstar founder Russell Weiner has accumulated a roughly $300 million stake in Celsius Holdings and is preparing an activist campaign aimed at accelerating the company's turnaround. Read the full report here.

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Energy Drinks Overtake Coffee As Gen Z's Primary Caffeine Source

Tailing 30Y Auction Prices At Highest Yield In 25 Years

After yesterday's ugly 10Y auction, moments ago we got the last of the week's refunding auctions, when the Treasury sold $25BN in 30Y paper (the same paper that has seen yield shoot up in the past week, ever since Warsh's most recent FOMC meeting in which he left the long-end hang out to dry), and just like the 10Y auction before it, this one was also rather deplorable.

Pricing at a high yield of 5.216%, the auction tailed the When Issued 5.212% by 0.4bps...

... but more importantly, it priced at the highest yield since 2001 some 25 years ago.

The bid to cover was 2.392, down from 2.444 in July and below the recent average of 2.429. 

The internals were more palatable: Indirects slumped from 77.7% in July - one of the highest on record - to 66.9%, which was just below the six-auction average of 67.0%.

And with Directs loading up, and taking down 21.6% of the auction, which also was just below the recent average of 22.5%, Dealers were left with 11.5%, 150bps higher than July, and a bit over the average of 10.6%. 

Overall, this was a weak auction if hardly catastrophic, and while demand was there, the more ominous question is where do yields go from here, and how much higher can the yield on the long-end keep rising before something finally breaks.

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Tailing 30Y Auction Prices At Highest Yield In 25 Years

WHO Defends Childhood Vaccination Schedules After Trump Order

Authored by Jack Phillips via The Epoch Times,

The World Health Organization (WHO) on Aug. 11 defended its immunization guidelines after President Donald Trump issued an order to change the childhood vaccination schedule to space out the shots.

A health worker prepares a vaccine in Texas in a file image. Ronaldo Schemidt/AFP via Getty Images

On Aug. 10, Trump signed an order to recommend administering the measles, mumps, and rubella (MMR) vaccine in three shots during separate visits. The combined MMR shot is commonly given to children, and some states mandate the vaccine for attendance at day care, schools, and summer camps.

Tarik Jasarevic, a spokesperson for the United Nations' health body, referred to the Trump administration's changes during a press briefing on Tuesday, saying that WHO's vaccine recommendations are "based on years of research across the world on how the immune system develops, when a person is most susceptible for a disease and how to keep protection strong."

"This is the advice we give to all countries, and we hope that all countries will use this best scientific evidence that we have," Jasarevic said, adding, "we have to always stress that the science does evolve to make their immunization programs for their citizens."

During Monday's signing event, Trump also called for only 11 key vaccines, and argued that spreading out the shots was critical for a child's health. Children should receive their shots in one year with five separate visits, he added. Previously, the Department of Health and Human Services had recommended 17 vaccines, which was revised down to 11 by the agency earlier this year.

Kush Desai, a Trump spokesperson, told media outlets on Aug. 10 that the president is "one of countless parents who have voiced questions and concerns about the combined MMR vaccine" and said that with the change, parents are provided "more options on timing and frequency for their children" and that this would increase vaccine uptake.

In January, the U.S. Centers for Disease Control and Prevention recommended vaccines for measles, mumps, rubella, polio, pertussis (whooping cough), tetanus, diphtheria, Haemophilus influenzae type B (Hib), pneumococcal disease, human papillomavirus (HPV), and varicella (chickenpox).

When the vaccine total was revised, several groups, including the American College of Physicians, sharply criticized the Trump administration's decision.

"Abandoning the U.S. evidence-based process is a dangerous and potentially deadly decision for Americans," said Jason M. Goldman, MD, the head of the American College of Physicians, in a Jan. 5 statement. "The evidence is clear that vaccines prevent deaths, hospitalizations, and spread of disease."

In explaining the decision for Monday's order, which comes as students across the United States will soon be returning to classrooms, Trump wrote that the administration is committed to ensuring that Americans can receive "the best scientifically supported medical advice in the world, as well as to protecting religious liberty and parental authority."

"I am taking further action to reaffirm that it is the policy of the United States that the core childhood vaccine recommendations should be aligned with scientific evidence and best practices from peer, developed countries while preserving access to vaccines currently available to Americans," he said.

The White House did not immediately respond to a request for comment on Aug. 11.

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WHO Defends Childhood Vaccination Schedules After Trump Order

Former SPLC Exec Arrested: Accused Of Funneling Donor Money To KKK, Neo-Nazi Informants

Southern Poverty Law Center (SPLC) executive Heidi Beirich was arrested in California on Wednesday under a superseding indictment in the Justice Department's ongoing case against the organization, according to a CNN report confirmed by federal officials.

Heidi Beirich. What even...

Beirich, who directed the Southern Poverty Law Center's Intelligence Project until 2019, faces three counts: conspiracy to commit wire fraud, conspiracy to submit false statements to a federally insured bank, and conspiracy to conceal money laundering. She was expected to make an initial appearance in Riverside later Wednesday.

"I believe she was part of the effort to open bank accounts in completely fictitious companies' names and make payments to individuals for reasons that were not accurate as described," Attorney General Todd Blanche told reporters Wednesday. "This is exactly what we said would happen in a case like this."

At the center of the allegations is an SPLC program that paid informants embedded in extremist organizations the nonprofit publicly monitored and campaigned against. Prosecutors allege Beirich helped oversee those payments and shared a bank account with one of the informants receiving them.

That informant, identified in charging documents as F-9, allegedly infiltrated the neo-Nazi National Alliance. Prosecutors further allege that Beirich was living with him and romantically involved with him while the payments were being made.

Reporting on the June superseding indictment said roughly $140,000 in donor funds moved from the SPLC's operating account into joint accounts held by Beirich and F-9 between 2015 and 2021. The organization is also alleged to have paid the informant more than $1 million since 2007.

Other payments under the same program allegedly went to separate recipients. The indictment, for example, describes funds reaching an Imperial Wizard of the United Klans of America - a different individual from the informant with whom Beirich allegedly had a relationship.

According to prosecutors, F-9 also broke into the headquarters of a white supremacist organization and removed approximately 25 boxes of documents. Those materials allegedly became the basis for a 2015 Hatewatch article written by Beirich titled "Chaos at the Compound." A second informant was allegedly paid about $6,000 to take responsibility for the burglary and conceal the identity of the original source.

An attorney for Beirich denied wrongdoing, calling the case meritless and politically motivated and saying she looks forward to presenting her side in court. An SPLC spokesperson had no immediate comment.

The SPLC has contested the government's case from the beginning, arguing that prosecutors are mischaracterizing a long-running intelligence-gathering program designed to monitor violent extremists. Its attorneys have also emphasized that law-enforcement agencies made use of information generated by SPLC informants.

Initial Indictment

A federal grand jury in Montgomery indicted the SPLC on April 21 on 11 counts: six of wire fraud, four of bank fraud, and one of money laundering.

Prosecutors allege the organization funneled more than $3 million in donated funds to at least eight informants associated with groups including the Ku Klux Klan, Aryan Nations, the National Alliance, and the National Socialist Party of America between 2014 and 2023.

According to the indictment, some of those payments were routed through bank accounts opened in the names of fictitious entities such as Rare Books Warehouse and Tech Writers Group.

"The SPLC is manufacturing racism to justify its existence," Blanche said when the original charges were announced.

The SPLC pleaded not guilty in July and moved to dismiss the indictment, arguing that the prosecution was vindictive and that the administration was retaliating against the organization for identifying and criticizing extremist groups.

On Aug. 7, U.S. District Judge Emily Marks rejected that motion, finding that the SPLC had not demonstrated prosecutorial animus. We covered that ruling here, as well as the unusual timing of an Atlantic story targeting FBI Director Kash Patel three days before the original indictment here.

The FBI severed its relationship with the SPLC in October 2025. In its most recent available filing, the organization reported gross receipts of $339.3 million and assets totaling $822.2 million.

At a June 9 House Judiciary Committee hearing titled "Manufacturing Hate, Part II," witnesses testified that the SPLC's "hate group" designations had been used as screening criteria by payment processors, donor-advised funds, corporate-giving platforms, and web-hosting companies.

WATCH: "The SPLC is little more than a highly profitable scam."

ADF's @ryanlbangert delivers his opening statement to @JudiciaryGOP on @splcenter pic.twitter.com/nbxBBhN63a

— Alliance Defending Freedom (@ADFLegal) June 9, 2026

In practice, witnesses argued, the SPLC's privately maintained list could carry consequences resembling those of an official government designation, despite there being no formal due-process mechanism for organizations placed on it.

One witness told the committee that his organization lost access to charitable-giving platforms, web hosting, and nonprofit software pricing after appearing on the SPLC's hate map.

Those claims remain witness characterizations rather than judicial findings. But they are now part of the congressional record, and the fact that federal law-enforcement agencies previously relied on intelligence produced by the SPLC is not in dispute.

Beirich left the SPLC in 2019 amid the upheaval that followed the firing of co-founder Morris Dees and the departure of much of the organization's senior leadership. She later co-founded the Global Project Against Hate and Extremism, where she continued working as an extremism researcher.

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Two Leftist Fantasies That Collide With Reality

Authored by Kathleen Dynan via AmericanThinker.com,

Many want to live with fantasies that contradict facts as their reality.

But facts can’t be ignored, and we are not required to accept their fantasies as our truth and reality.

Here are two such fantasies: that a man can become a woman or vice versa, and that Marxism is good for citizens of the country.

Let us examine biology and medical science facts to disprove the first fantasy.

Sex chromosomes are packages of DNA found inside most of our approximately 30 trillion cells that have a nucleus. There are two different kinds of these chromosomes, X and Y. When an egg is fertilized, the egg itself always contributes an X chromosome, while sperm can contribute either an X or a Y. Sex chromosomes are the genetic elements that define a person’s biological sex. Females have XX and males have XY chromosomes. Chromosomes themselves are made up of proteins and DNA that carry our genetic information from cell to cell. In addition to biological gender and the resulting reproductive systems, they determine other physical traits, e.g., eye color.

The reproductive systems of men and women are distinctly different. The male reproductive system mostly exists outside of the body. The external organs include the penis, scrotum and testicles. Internal organs include the vas deferens, prostate and urethra. The male reproductive system is responsible for sexual function and urination. The female reproductive system is a group of organs that enable reproduction, pregnancy, and childbirth. It also produces female sex hormones, including estrogen and progesterone. The system consists of organs and tissues inside the body and some that are visible outside the body.

Medically, it is not possible to transplant reproductive systems into the opposite sex. Drugs and mutilating surgeries change a person’s appearance, but do not change the biological gender.

To dispel a related fantasy, women are physically weaker than men because of a combination of factors rooted in this biology. Women have: less total muscle mass, different muscle fiber profiles, lower testosterone levels, higher essential body fat, and smaller, lighter bones. These differences are significant. In upper body tasks, women produce roughly 56% of the force men do; in the lower body, that figure rises to about 72%. The average gap is real, measurable, and driven by physiology that diverges sharply at puberty.

So, factual biology shows it is impossible for women to successfully compete against the strength of men in physical tasks and sports.

Now, let us look at history to disprove the second fantasy.

The Democratic Socialists of America is claiming Americans’ lives would be better under Marxism. Both socialism and communism are based on the principles of Marxism. The claim is that both are better for citizens than our form of government, a constitutional republic with an economy based on capitalism. But history shows this false claim is just a desperate attempt to seize control of Americans.

They claim Marxism would provide: a classless society; peace for all; and less labor required, meaning more leisure time. They consider the last the true measure of wealth. Capitalism, not any form of Marxism, delivers leisure time. Below are some results of living that fantasy.

 

Millions more citizens were stripped of all wealth and property, captured, debased and tortured under these governments. If they were able to escape these madmen, citizens fled their homelands.

 

To date, 11 countries have tried socialism. All have failed.

The sole equality for all was the anguish and suffering of citizens. Only the elites running those governments prospered.

The far left is trying to buy control of us by offering the same eight “free programs” they offered in 2019. These include: Universal Child Care; Guaranteed Income; Reparations to Blacks and Illegals; Affordable Housing; Medicare for All; Student Loan Forgiveness; Free Public College; and a Green New Deal. Their desperate attempt to pretend to have programs for all Americans was and is a sick joke. They can’t ever happen.

In 2019, the total world wealth was estimated to be $360.6 trillion; and the United States’ wealth (assets minus liabilities) at about 29% of that total, $106 trillion. The far left was promising to spend an estimated $81.9 trillion for these “freebies.” That was 77% of our wealth on “free stuff.” Common sense and logic said what facts proved, that none of those would materialize. (2019 Credit Suisse Report) Both wealth and costs have increased in the last 7 years, but that total wealth and costs comparison is still viable.

Unlike Marxist governments, American citizens are represented in our government. Do not let that change in the United States. Marxists can’t improve your life, but history shows they will destroy or end it.

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Two Leftist Fantasies That Collide With Reality

Tanker Data Contradicts US Claim That Middle East Oil Flows Have Normalized

By Tsvetana Paraskova of OilPrice.com

Oil flows from the Middle East have normalized, with Sunday traffic alone above pre-conflict averages, US Secretary of Energy Chris Wright said on Tuesday in a claim that appears not to be backed by ship-tracking data.

On Tuesday, Secretary Wright posted on X that “Thanks to the coordinated efforts of the U.S. military and our gulf allies, the seven-day average for oil leaving the Strait of Hormuz is currently up to almost 9 million barrels per day.”

Thanks to the coordinated efforts of the U.S. military and our gulf allies, the seven-day average for oil leaving the Strait of Hormuz is currently up to almost 9 million barrels per day.

When combined with the additional 5-7 million barrels per day leaving the region via newly…

— Secretary Chris Wright (@SecretaryWright) August 11, 2026

He went on to add that “When combined with the additional 5-7 million barrels per day leaving the region via newly upgraded pipelines and export facilities, total oil flows are currently averaging approximately 15 million barrels per day.”  

According to the top US energy official, “On Sunday alone, over 20 million barrels left the Arabian gulf region, which is above the pre-conflict average.”

However, analysts and tanker traffic monitoring services cannot fathom how the U.S. Administration has arrived at these numbers, considering that traffic at the Strait of Hormuz is severely constrained, even according to the US Energy Information Administration (EIA).

“We have increased our estimates of Middle East shut-in crude oil production in the coming months compared with our July forecast due to continued severe constraints on Strait of Hormuz transits, which we assume persist through August,” the EIA said on Tuesday in its latest monthly Short-Term Energy Outlook (STEO).

“It is not possible to reconcile the disparity between what we see and what he is quoting,” Matt Smith, director of commodity research at Kpler, told CNN, commenting on Wright’s claim.

Kpler data showed earlier this week that vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again.  

On Monday, only six commodity vessels transited the Strait of Hormuz in either direction, down from 11 ships in the latest 10-day average, according to shipping data from Kpler cited by Reuters on Tuesday. The number down to just 1 on Wednesday. 

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Hegseth Pushes $1.5 Trillion Military Budget As Tribute To Lindsey Graham

Authored by Dave DeCamp via AntiWar.com,

US Secretary of War Pete Hegseth called on Congress to approve his request for a $1.5 trillion military budget for 2027 during remarks at a ceremony in South Carolina for the renaming of Joint Base Charleston to Joint Base Lindsey Graham in honor of the late Sen. Lindsey Graham, who died unexpectedly last month.

Hegseth claimed that before he died, Graham told him that the $1.5 trillion request was the best military budget he'd ever seen.

Department of War photo

"As we gather here today, the War Department is seeking a historic generational investment of $1.5 trillion for American warriors. And Lindsey himself said, to me in his office, ‘this is the best military budget I’ve seen since I’ve been in Congress,'" Hegseth said, according to a transcript released by the Pentagon.

"This department pays tribute to Lindsey Graham in the naming of this base, but there could be no greater tribute than Congress could give than to invest in our warriors for the full $1.5 trillion," he added.

Hegseth said that he had known Graham for nearly 20 years, going back to when he was a member of a veterans group pushing for the US to escalate the war in Iraq.

"Nineteen years ago, young lieutenant, uh, First Lieutenant Pete Hegseth came back from Iraq and was a part of a veterans’ organization called Vets for Freedom that believed in the surge in Iraq and advocated for the troops on the ground," he said. "The first and only senator willing to meet with First Lieutenant Pete Hegseth and nowheresville Vets for Freedom was Sen. Lindsey Graham."

The event came as Hegseth has been struggling to get support from Congress for the full $1.5 trillion military budget, a nearly 50% increase from this year’s budget.

The Trump administration seeks to reach that figure through a $1.15 trillion National Defense Authorization Act (NDAA) plus a supplemental funding bill worth about $350 billion. Hegseth said that he and Graham discussed the plan just a week before the senator’s death.

Secretary of War Pete Hegseth was joined today by Secretary of the Air Force Dr. Troy E. Meink, Treasury Secretary Scott Bessent, South Carolina Gov. Henry McMaster, and Sen. Darline Graham for the renaming of Joint Base Charleston, South Carolina, as Joint Base Lindsey Graham,… pic.twitter.com/5dz6TvGOhB

— OSINTdefender (@sentdefender) August 10, 2026

"He looked at me and said, how’s $355 billion sound? He wanted to give even more than $350 billion. He wanted to ensure our military was as equipped as humanly possible, because he was thinking of places like this one right here," Hegseth said.

Hegseth was joined at the ceremony by Darline Graham, Lindsey Graham’s sister, who has taken over his Senate seat and is expected to pursue the same policies as her brother. Lindsey Graham was notorious for his hawkishness, and following his death, footage came out of him laughing and celebrating days after the start of the US-Israeli bombing campaign in Iran, a war he had been pushing for years.

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Hegseth Pushes $1.5 Trillion Military Budget As Tribute To Lindsey Graham

The Diamond Crash Accelerates

The Diamond Standard Index, tracked on Bloomberg under the ticker DIAMINDX, tumbled to new record lows during the first half of August as a surge in affordable lab-grown stones eroded the scarcity premium underpinning natural diamond prices.

"Technological progress in growing diamonds in labs has been amazing. It's no surprise most engagement rings are now using lab diamonds," X user Crémieux said.

Technological progress in growing diamonds in labs has been amazing.

It's no surprise most engagement rings are now using lab diamonds. https://t.co/MZ4zWVlQNq pic.twitter.com/fH1lFYD3Ih

— Crémieux (@cremieuxrecueil) August 8, 2026

X user Saul Sadka warned that the diamond downturn will likely persist for years as lab-grown stones flood the market:

Expect the collapse in diamond prices to accelerate substantially over the next few years. The natural-diamond market is shrinking in both size and value and circling the drain following the commoditization of its product by modern technology. The same thing happened to pearls 100 years ago, but it will be much worse for diamonds: they will become a signal of bad taste rather than wealth, just as pearls went from high society to a matronly cliché within 50 years.

I have been telling friends in the diamond industry to find a new line of work for ten years. It was clearly only a matter of time before lab-grown diamonds became a mass-market commodity, sold at some small premium over production costs, which would themselves continue to plummet.

Since they are identical to natural diamonds, and buyers actually have multiple reasons to choose them instead, including no "blood diamonds" and supposedly greater environmental friendliness, most buyers will not care.

Attempts to differentiate the products using $20,000 machines will not help: they are indistinguishable in real life.

There was always going to be some multiple that people would be willing to pay for "natural" over "lab," but it did not really matter whether that multiple was 2× or 10×. Once lab-grown diamonds can be made for next to nothing, even ten times next to nothing is still very little. People will pay more, perhaps much more, for an identical product because of its backstory, but not infinitely more.

The reason natural-diamond prices have held up reasonably well over the past four years, "only" falling by around 50% in real terms, has more to do with supply cutbacks. Production has been reduced by about 20% over that period, from 120 million to 98 million carats, in a desperate attempt to support prices as the natural and lab-grown markets diverge. If production returned to its previous level, prices would fall even faster.

But it is going to get much, much worse. A trip to Miami will explain why: people who look like gangsters walk around wearing enormous tennis bracelets that would have cost a million dollars 20 years ago but can now be purchased for the price of a used Rolex.

Diamonds are going to become a sign of tackiness, as, frankly, they always should have been, rather than class or exclusivity. And then the game will be up for everyone in the diamond industry.

Expect the collapse in diamond prices to accelerate substantially over the next few years. The natural-diamond market is shrinking in both size and value and circling the drain following the commoditisation of its product by modern technology. The same thing happened to pearls… https://t.co/XdHRsgSp6h pic.twitter.com/c0zHoUqi2L

— Saul Sadka (@Saul_Sadka) August 9, 2026

Sadka continued in a series of follow-up tweets:

One of the biggest problems for hopes of a residual natural-diamond industry is that diamonds ARE, in fact, FOREVER. At some point, the market will shrink to the point where the secondhand supply, fed by the estates of Boomers as they fall off this mortal coil, will provide sufficient supply to make any mining or polishing uneconomic.

One of the biggest problems for hopes of a residual natural diamond industry is that diamonds ARE, in fact, FOREVER. At some point, the market will shrink to the point where second-hand supply, fed by the estates of Boomers as they fall off this mortal coil, will provide… pic.twitter.com/VkOhukpH5I

— Saul Sadka (@Saul_Sadka) August 10, 2026

This would have been true 30 years ago, and it would have been a big blow to the Israeli economy, but it's not true anymore. The industry once accounted for up to 3% of Israeli GDP, but it's now under 0.2%. Sorry, Turkey.

This would have been true 30 years ago, it would have been a big blow to the Israeli economy, but it's not true anymore. They once were up to 3% of Israeli GDP, but its not under 0.2%.

Sorry Turkey. pic.twitter.com/pORcoY4GcK

— Saul Sadka (@Saul_Sadka) August 10, 2026

There might be some limited residual market at the high end, but my guess is that there will be enough supply from Boomers as they "check out" to glut that demand without any need for miners or cutters, etc.

There might be some limited residual market at the high end, but my guess is that there will be enough supply from the boomers as they "check out" to glut that demand without any need for miners or cutters etc.

— Saul Sadka (@Saul_Sadka) August 10, 2026

To sum up: natural diamonds face a structural, rather than cyclical, collapse. If you're in the market for an engagement ring and hoping it will serve as some store of value, you might be out of luck because lab-grown stones are destroying the scarcity premium, while a potential wave of secondhand supply from aging Baby Boomers could pressure the market even further. 

Tyler Durden Tue, 08/11/2026 - 15:40
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The Diamond Crash Accelerates

We Need More Tom Sellecks, Less Mark Ruffalos

Authored by Christian Toto via American Greatness,

Tom Selleck destroyed the so-called Queen of Nice in 1999 without even trying.

The Magnum, P.I. alum sat down with Rosie O'Donnell a short time after the Columbine High School shooting that left 14 people dead. The host's "nice" shtick crumbled in real time as she savaged Selleck for his NRA support. He was simply there to promote his movie, but she bullied him anyway.

"Now you're questioning my humanity," the actor said following her line of attacks. O'Donnell's image never fully recovered, while Selleck has maintained his star status, in part, by never getting nasty or political.

The Blue Bloods star's nonpolitical persona is even more admirable today, and the 81-year-old is sticking to it. He appeared on CNN recently as part of the Ronald Reagan Presidential Library tour. Selleck is a fan of the late president, hardly a controversial take.

The CNN reporter pressed Selleck on the current state of the country and, more specifically, President Donald Trump. Selleck wisely refused the bait.

"Well, [Trump is] certainly a mixed bag. I stay out of the current political world. Why piss off half the country when you're in the business of entertaining people?" he said.

He's right. Except plenty of artists can't stop doing just that.

The worst example remains Snow White star Rachel Zegler. The 20-something actress insulted that film's source material and, later, told Trump supporters they should "never know peace."

Her film lost a reported $170 million for Disney.

Last month, actor Alan Ritchson of Reacher fame slammed both the Catholic Church and President Trump during an angry podcast interview. His new film, Motor City, bombed at the box office.

Far-Left actor Mark Ruffalo won't stop sharing his socialist views in interview after interview. He's the anti-Selleck, spouting off at any opportunity.

Yet he wisely avoided controversy while promoting his co-starring role in Spider-Man: Brand New Day. The team behind the film must have been high-fiving behind the scenes as the movie broke the all-time record for an opening weekend haul.

No cleanup on aisle 4 - aka doing damage control for Ruffalo's hot takes.

Stars are increasingly political in the modern era, but the results aren't always so clear-cut.

The culture wars surrounding Christopher Nolan's The Odyssey didn't hamper that film's gargantuan box office haul, nor did its co-stars' woke comments.

Many politically active stars remain in demand, as moviegoers refuse to boycott their work. Heck, Ruffalo has five IMDb credits in 2026 alone.

Still, for some, an actor's chronic political talk, often couched in extreme or cruel fashion, is a deterrent for consumers.

Selleck never has to worry about that. He's kept the focus on storytelling for decades, and he has a fine career to show for it. A newer crop of stars has embraced the Selleck standard, rejecting the Left's "politics at all costs" mantra.

We recently saw Kevin James, Michelle Yeoh, and Neil Patrick Harris refuse to engage in political opinions during press exchanges. Their silence was noteworthy for good reason. They're the exception to the new celebrity rule.

Will journalists be pressing Zegler or Ritchson about their newest projects when they're in their eighth decade, as they do with Selleck today?

Christian Toto is the editor of HollywoodInToto.com - "The Right Take on Entertainment." He's an award-winning journalist and movie critic whose film reviews are heard on radio stations across the country. He co-hosts Denver's Mike Rosen at the Movies radio show on KOA NewsRadio as well as the weekly "Hollyweird" segment on The Michael Brown Show.

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We Need More Tom Sellecks, Less Mark Ruffalos

"Lie To People Who Want To Be Lied To": How To Make A Political Fortune As A Far-Left Democrat

Authored by Jonathan Turley,

A financial journalist once offered simple advice: “Lie to people who want to be lied to, and you’ll get rich…Tell the truth to those who want to be lied to, and you’ll go broke.”

That axiom appears to have been taken to heart by radical Democratic candidates who this week issued transparent denials of past outrageous comments. Their calculus is clearly that the last thing that voters want to hear is the truth about their past views.

Certain cultural touchstones are considered inviolate in some states, such as beef in Texas.

In 2022, Talarico said he was reducing his meat consumption as part of climate-related efforts.

Texas Democratic Senatorial candidate James Talarico was roasted after a video surfaced of his calling to reduce meat consumption and “I am proud to say that our campaign has officially become a non-meat campaign. We are only buying vegan products from our local vegan businesses.”

The backlash was so great that Talarico has been eating whole cows to prove that he is not all-hat and no cattle.

Obviously, lying about your positions is hardly a phenonmon confirmed to the far left.

Many Republican candidates have also made painfully transparent pivots. However, the spins this week threaten to knock the planet off its axis.

In Wisconsin, Democratic Socialist Francesca Hong seems to be coasting to a primary win despite radical views such as defunding police.

In an episode of “Pod Save America,” Hong was asked about her 2020 statements declaring “police exist to uphold white supremacy” and “I support defunding the police as a first step towards abolishing the police.”

Hong responded with a convoluted spin: 

“My views have only become stronger in that I’m serious about public safety and I will not abolish the police.”

Hong’s views on Thanksgiving takes the axiom to a whole new level. Hong previously stated:

“Cancel Thanksgiving. Should have done this in 1621. If it takes a worldwide pandemic for us to realize we should stop celebrating colonialism and the original superspreader event that killed Indigenous folx and women so be it.”

That did not go over well in Wisconsin, only slightly better than coming out against cheese.

Hong did not deny her 2021 statement for weeks, including when confronted on CNN by host Kaitlan Collins. Asked directly if she still hated Thanksgiving, Hong seemed to morph into Chauncy Gardner from Being There with her now much-ridiculed “I’m a chef” response, stating that, as a chef, she works to “bring more people to the table.”

Hong seemed to morph into Chauncey Gardner from Being There in offering non-sequiturs of being a “very serious gardener.”

When that interview fell flat, Hong decided to lie and claim that she was just joking in 2021 and “loves” Thanksgiving, her now “favorite holiday.”

No one reading her quote or her later interviews would believe that it was a joke. It was not a joke for weeks until her responses became a joke.

Abdul El-Sayed skipped the transitional period and went straight to the lie in his controversy this week when a video surfaced of his saying how he hates the iconic Mackinac Island. 

Growing up in Chicago, one of my favorite things was to go with my family to the island, which is the quintessential small American town. I actually have never met anyone who hated Mackinac Island…until now.

In the video, El-Sayed states “I hate Mackinac so much. It’s funny cause, like, if we win, this is gonna be, like, the summer home. Every time I’ve ever come here I’ve hated it.”

El-Sayed was clearly informed that declaring that you despise the most popular tourist location in Michigan is not a vote getter. So, El-Sayed simply told his supporters what they wanted to hear: you cannot believe your lying eyes and ears.

His campaign issued a bizarre statement that sought to turn the controversial into his being opposed to the elite and privileged class, saying that he was actually Mackinac Policy Conference which is simply an annual nonpartisan forum for public policy discussions.

El-Sayed claims that he was referring to conference as being like a summer home for governors. He maintains that he was referring to a conference as the entire island.

El-Sayed knows that it does not matter. He could have claimed that he was referring to hating Mackinac Island Pizza Company. It does not matter. His supporters do not want the baggage and he simply needed to unload it

With the election in November, the next predictable step will be for Hong to join El-Sayed on Mackinac Island for a public Thanksgiving dinner. Talarico will be on hand to carve the bird with enthusiasm.

The real problem is that these individuals spent years throwing red meat (or, in the case of Talarico, tofu) to the far left. These statements were not considered extreme or controversial until they found themselves speaking to a wider audience. Then they sounded just crazy.

Moreover, some lies are unlikely to register with voters who may prefer to live in delusion. The fact that the Mamdani markets will ultimately sell the most expensive produce in New York is an inconvenient fact that is best ignored.

The model for far-left politicians appears to be Virginia Gov. Abigail Spanberger who ran as a moderate and then governed from the far left. Spanberger, for example, pledged not to gerrymander districts to eliminate all Republican districts and then immediately moved to do so. Many voters likely did not believe her on gerrymandering, taxes, or other broken pledges before the election. They just needed her to say it. So, you might have to visit Mackinac or feign enjoyment at Thanksgiving or barbeques for a few weeks. Then you can do a Spanberger.

Abraham Lincoln may have said “You can fool some of the people all of the time, and all of the people some of the time, but you cannot fool all of the people all of the time.”

However, the fact is that you do not have to fool all of the people all of the time, just enough to win over the course of a few weeks.

Jonathan Turley is a law professor and the New York Times best-selling author of “Rage and the Republic: The Unfinished Story of the American Revolution.”

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"Lie To People Who Want To Be Lied To": How To Make A Political Fortune As A Far-Left Democrat

Rich-Kid Mamdani Ally Wants To "Abolish Rent"; Could Hawley Reform Bill Stop College Indoctrination?

Tracy Rosenthal, co-founder of the Los Angeles Tenants Union, has emerged as an influential far-left star in the Democratic Socialists of America's tenant-organizing 'squatting' movement, promoting rent strikes and aggressive pressure campaigns to bankrupt landlords.  

While the article focuses largely on New York City, Rosenthal’s influence extends far beyond it. She has built an entire career around this work, speaking at conferences and appearing as a media expert. The clips I used of her actually come from a talk she gave to Asheville DSA. pic.twitter.com/2LGiDzVYNG

— Stu Smith (@thestustustudio) August 3, 2026

In this clip posted on X by Stu Smith, investigative analyst at the Manhattan Institute, Rosenthal stated that tenants pay rent "at the barrel of a gun." She explained how "Living on rent strike - right - getting to experience having your housing without having to pay for it is one of those liberatory visions of home." 

🚨 Meet the “Abolish Rent” Ideologue Teaching DSA Tenant Organizers How to Wage War on Landlords

Tracy Rosenthal co-founded the Los Angeles Tenants Union, helps politically educate DSA tenant organizers, and is currently on rent strike in New York City.

In this supercut,… pic.twitter.com/0fw5wi30rt

— Stu Smith (@thestustustudio) July 17, 2026

The problem with Rosenthal's revolutionary crusade to collapse capitalism is that she treats rent strikes, and the broader effort to destroy the nation from within, almost as a game, even though the financial fallout affects actual working-class tenants, property owners, lenders, and working-poor communities.

Her view that this is all a game is even more striking given New York Post reporting that she was raised in a super-wealthy household in a multimillion-dollar Manhattan apartment and is the daughter of four-time Grammy-winning studio owner Steven Rosenthal.

Rosenthal showing off her White privilege at the Grammys with her rich father and stepmother. 

In other words, the very privilege created by the capitalist system she seeks to destroy has insulated her from terrible life decisions. She appears to be little more than a lonely cat woman and an unhinged white liberal "Karen" who hates the West, probably because she went to some liberal arts school and was handed an unproductive, woke degree that many companies today see merely as a liability. 

She is also likely representative of many DSA members who, as they watch capitalism progress this summer. Spacex's IPO mints thousands of new millionaires, including working-class welders, and they see their jealousy boil over as they confront the reality that their decision to pursue far-left activism has led them down a sad and angry path, one full of hate and, as the far-left is known for, violence. 

Rosenthal's 2024 book "Abolish Rent" has been a top read on the DSA's own website. 

But hey, she is one of DSA’s recommended authors on “housing justice,” not a manipulative activist weaponizing laws and protections meant to help vulnerable tenants. pic.twitter.com/0uWgbxNYTR

— Stu Smith (@thestustustudio) July 17, 2026

Rosenthal, who posted "death to America" the night Mamdani clinched the Democratic primary last year and now serves as a visiting scholar at the woke CUNY, has already put some of these rent strikes into practice. 

Meet another of Mamdani's housing experts...

Mamdani housing event features a lady in a mask ranting about her landlord, declaring "eviction = violence" pic.twitter.com/el709Zzf88

— End Wokeness (@EndWokeness) July 16, 2026

It's time to recognize that Rosenthal, like much of the DSA activist class, is arguably a byproduct of an education system hijacked by the radical left that has purposely oversupplied the country with worthless woke degrees. 

The result is a growing revolutionary cohort increasingly detached from economic realities that have one mission, and it's not affordability, climate, anti-data centers, Palestine, or any of the lefty causes; it's to destroy the nation from within - we're merely citing DSA leaders in their own words ... 

Hawley's Solution

If policymakers actually want to dismantle the cancer killing the education system and producing this far-left activist class, perhaps forcing schools to have an economic interest in student outcomes will result in less wokes? Sen. Josh Hawley (R-MO) introduced a bill in 2022 - the Make the Universities Pay Act, that would allow federal student loans to be discharged in bankruptcy after a certain period, but pair that relief with a clawback requiring universities that pushed these worthless and toxic degrees to absorb at least half of every covered loan that is ultimately discharged.

Such a mechanism would fundamentally change the economics of higher education overnight. Schools - with their massively inflated tuition - who produce graduates that are unable to generate enough income to repay their debts, would suddenly bear a direct financial cost for those outcomes. This would impose accountability, forcing schools to prioritize productive and demanding degrees instead of worthless woke degrees.

In other words, it's time to impose accountability on schools that push worthless degrees. Such a move could be the ultimate death blow to many universities with weak balance sheets, high debt loads, and small endowments. 

Lawmakers should read more about how to break the cycle of bad ideas via U.S. Senator Josh Hawley (R-Mo.): New Legislation to Hold Universities Accountable for Rising Tuition Costs and Student Debt. 

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Rich-Kid Mamdani Ally Wants To "Abolish Rent"; Could Hawley Reform Bill Stop College Indoctrination?

Ukrainian Drone With Huge Explosive Payload Hits Bulgaria Near Vital Gas Pipeline

A major border and aerial incident has occurred between Ukraine and Bulgaria, and Bulgarian officials are outraged and demanding answers - ironically on the heels of a political shift regarding the Ukraine war wherein Sofia has stopped giving weaponry, citing its own stockpile shortages.

A Ukrainian drone on Saturday breached Bulgaria's airspace and directly endangered vital energy infrastructure upon exploding in Bulgarian territory, regional media reports. These types of breaches of neighboring states' territories and spillover from the Ukraine war has been happening with increased regularity of late.

File image via Reuters

Bulgaria's defense ministry quickly pointed the finger at Kiev, saying the destroyed drone debris points to a weapon "widely used by the Ukrainian military."

Despite the two countries by and large being 'friendly' - Bulgaria has summoned the Ukrainian ambassador for a meeting scheduled for Monday in response, AFP reports.

The Ukrainian government is seeking to defuse the situation, saying it remains "in close contact with the Bulgarian side to clarify the circumstances" of the incident. "We can say with certainty that the Ukrainian Armed Forces did not intentionally direct any assets toward Bulgaria," Ukraine's foreign ministry spokesman Georgiy Tykhyi said, noting that these incidents ultimately arise from the Russian invasion.

Thankfully there were no casualties, however...

According to Bulgarian Prime Minister Rumen Radev, the drone entered Bulgarian airspace from Romania before exploding 1,000 metres from a compressor station of the Trans-Balkan gas pipeline, near the former Kardam border checkpoint between the two countries.

"Noise made by the drone was detected by Romanian border police, and a loud explosion was subsequently heard by the 'General Toshevo' border police patrol," he told a press conference.

Bulgarian Prime Minister Rumen Radev has expressed the main concern, saying the explosive payload the UAV carried was "significant". But so far, Bulgarian officials have agreed that the incident does not look intentional.

Indeed, Ukraine insists it did not 'intentionally' target Bulgaria, an Eastern European NATO-member country, which Kiev has long sought to curry favor with.

Russian drones have also on numerous occasions breached European airspace. In prior recent instances of drones entering neighboring airspace, particularly in Baltic countries and also Poland, NATO jets were scrambled - and in some cases drones are safely brought down via electronic intercept means.

Russia has more frequently been accused of sending drones into EU airspace, after which threats & accusations fly from NATO 'eastern flank' leaders:

Looks like Russia tried to blow up a pipeline in Bulgaria with a drone today.

Moscow has ramped up its terror campaign in the EU with 6 incidents in 2 weeks:

🇷🇴 Romania - Fighter jets shoot down Russian Shahed drones over Romanian airspace 3 days in a row (July 24-26)

🇵🇱… pic.twitter.com/JwRB3Zf7S7

— Visegrád 24 (@visegrad24) August 8, 2026

Each instance creates new tensions between Russia and NATO, and the typical accusations and threats then fly. The Kremlin has of late been especially alarmed at the Trump administration transferring 5,000 US troops from Germany to Poland, near Russia's doorstep. But again, some of these drones in recent instances were found to be Ukrainian.

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Ukrainian Drone With Huge Explosive Payload Hits Bulgaria Near Vital Gas Pipeline