The longest government shutdown in history is now over, but not for long. It’s just another in a long series of band-aid fixes to keep the government going for a few more months without a real budget. Most of the compromises agreed upon will only last through the end of January, and then the failure to enact a budget due to the two-party stalemate will clutter the congressional agenda all over again. The most interesting observation behind the actions and motives of the eight Democrats that finally agreed to this compromise over the objections of the Senate “supreme minority leader” Chuck Schumer was by Utah Representative Blake Moore. You’ll enjoy reading his comments in this week’s brief. To receive a free, one-time sample of the Brief, along with options on how to subscribe, click on Request a sample on the left.
China and Japan are experiencing their most intense diplomatic tensions in years after Beijing issued economic warnings in response to recent comments by Japanese Prime Minister Sanae Takaichi about a potential Taiwan conflict. As we featured previously, Takaichi had suggested that any Chinese use of force against Taiwan could be considered a "situation threatening Japan’s survival" - which could justify Tokyo supporting allied nations in defense of the self-ruled island.
Less than 24 hours Days after President Donald Trump called Rep. Marjorie Taylor Greene a traitor and mocked Thomas Massie's dead wife - because they were among four Republicans pushing for a House floor vote to force the DOJ to release the Epstein files, Trump - likely sensing he dun goofed, big time, reversed course Sunday night and now supports their release.
One year ago, Goldman's precious metal analyst Lina Thomas made the case that gold would rise to $3000 by the end of 2025 (it ended up rising more than $1000 higher) as a result of relentless central bank purchases in general, and thanks to China's ravenous appetite for gold in particular. The bank promptly got pushback on this thesis, with skeptics countering that it is unlikely that gold will manage to keep its ascent at the same time as the dollar rises to new record highs, one of the largest consensus Trump trades.
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For example, Zohran Mamdani's campaign promises are drying up on the vine like grapes in the desert sun. His supporters are now realizing that his 4-year rent freeze policy faces serious obstacles, with the new mayor relying on full support from the Rent Guidelines Board (RGB) appointed by Mayor Adams (which he is unlikely to get until a new board is appointed). The reality is, a rent freeze would result in an immediate selloff of rental properties and landlord flight from NYC, meaning, there will be an even worse housing shortage.
The U.S. House select committee that investigated the Jan. 6, 2021, attack on the U.S. Capitol cost almost twice as much as previously reported, including spending taxpayer funds for TV news producers and documentary filmmakers to create videos dramatizing its case against President Donald Trump, an investigation by The Center Square found.
After a long period of relative quiet, the Strait of Hormuz is flaring up again as on Friday Iranian forces are reported to have seized a Marshall Islands-flagged tanker.
This is a first in a long time, but the Iranians are saying it is a somewhat 'routine' instance of intercepting a ship for "smuggling fuel", according to state IRNA. The Iranians are now claiming to be acting within the laws of the Islamic Republic.
A Ukrainian drone attack on the Russian Black Sea port of Novorossiysk, one of the country’s most significant oil export hubs, triggered renewed fears of supply disruptions.
All but two Indian refiners have skipped placing orders for Russian crude for December after the U.S. sanctioned Rosneft and Lukoil, sources with knowledge of the purchases told Bloomberg earlier this week.
In China, major state-owned refiners have reportedly suspended purchases of Russian crude oil, but the independent refiners in the Shandong province, the so-called teapots, are unlikely to halt imports of the cheap crude that has become a staple for their refineries.
The Trump administration is dipping its toe—barely—into refilling the U.S. Strategic Petroleum Reserve (SPR), announcing plans to purchase one million barrels of crude for delivery in December and January. The move, while symbolically significant, amounts to little more than a rounding error in a reserve that once held 700 million barrels.
In June, Syria’s government annulled a 2019 agreement between Bashar al-Assad’s administration and the Russian company Stroytransgaz to manage Tartus.
Damascus said the deal was terminated due to the Russian company breaching its contract, including by failing to invest a promised $500m in modernising that port’s infrastructure.
Earlier this week, the USS Gerald Ford carrier strike group entered U.S. Southern Command's area of responsibility. Southern Command is the primary combatant unit for operations in the Caribbean and South America.
The Ford joins a flotilla of destroyers, war planes and special operations assets that are already in the region.
Federal government agencies terminated and descoped 67 wasteful contracts over the past five days, which had a ceiling value of $1.4 billion, while saving $648 million in taxpayer funds, the Department of Government Efficiency (DOGE) announced in an X post on Nov. 8.
The lead up to a Turning Point USA event on Monday night at UC Berkeley was filled with violence and mayhem, as aggressive protesters banged against barriers, set off a smoke grenade, and screamed at attendees waiting in line as law enforcement worked to keep things from spiraling into uncontrolled chaos.
Aluminum prices in the U.S. climbed to new record highs on Monday as domestic inventories tightened sharply, driven by the Trump administration’s steel and aluminum tariffs designed to bolster and revitalize America’s industrial base.
The search for alternative oil supplies follows the Trump administration’s decision last month to sanction Rosneft and Lukoil, which together account for half of Russia’s oil exports and a significant portion of Indian imports from the country.
The sanctions ignited a rush to secure supplies ahead of the entry into effect of the sanctions, on November 21, while oil buyers look for loopholes to keep their access to discounted Russian crude.
Penstone’s comments struck a chord as he recalled the sacrifices made by countless servicemen. “I can see in my mind’s eye, rows and rows of white stones, of all the hundreds of my friends...for what?” he asked, revealing a deep sense of regret about the direction his country has taken. He harshly criticized the current state of affairs, asserting, “The sacrifice wasn’t worth the result that it is now.” His statement reflects a broader concern among veterans who witness significant changes in societal values and governance.
Penstone’s sentiments resonate amid growing frustrations over issues such as immigration and free speech.
Also announced as part of the deal, the Senate will vote on a so-called “minibus” appropriations package to fund several sectors of the government for a full year.
This minibus package would include three of the 12 government appropriations bills that need to be passed annually. Failure to pass one or all of these bills before the funding deadline results in a partial or complete government shutdown.
There are two candidates so far running for Pelosi’s seat: California state Sen. Scott Wiener and Saikat Chakrabarti, former chief of staff to Rep. Alexandria Ocasio-Cortez (D-N.Y.).
Trump called Pelosi’s retirement “a great thing for America.”
Fox News also reports that up to 30 grand jury subpoenas are anticipated to be served on former government officials involved in “Spygate” and/or “Russiagate.”
According to the company, the same thermal power plants that had been restored after attacks in 2024 were struck again, with multiple Russian drones targeting them "each minute" overnight on Nov. 8.
Ukrainian forces downed 406 out of the 458 drones, including Shahed-type attack drones, launched by Russia overnight, the Air Force reported. Russia also launched 45 cruise and ballistic missiles, nine of which were downed, the statement said.
