It’s Monday, September 14th. There has been a ton of news today, so let’s rip the band-aid off right away and get to it.
Stories we’re tracking:
Trump is again ranting and raving on Truth Social with the usual…Iran lost, they’re begging to make a deal, the U.S. controls the Strait, yadda, yadda, yadda
The Houthis now control the entire Red Sea Coast and the Bab el-Mandeb Strait
A SECOND pumping station on Saudi Arabia’s East-West oil pipeline was destroyed in an drone attack
Oil and Diesel prices are spiking
So is the 10-Year Treasury yield, which just broke 5% for the first time in years, and mortgage rates, which are back over 7%
Exxon’s massive Joliet, Illinois refinery suffered a total power outage with black smoke visible for miles
Energy Secretary Chris Wright is echoing Trump’s talking points, blaming Ukraine for high diesel prices
Trump claims he got Russia and Ukraine to stop hitting each other’s oil infrastructure, but Zelenskyy’s statement does not back that up
Interior Secretary Doug Burgum joins Trump in calling concerns about data centers a foreign psy-op, as Trump calls opposers of data centers “traitors”
The federal deficit hits $1.79 trillion with a month still left in the fiscal year
Trump blames Biden for his own inflation
JD Vance’s push back on AI warnings
A bombshell ProPublica report that Don Jr.’s Bahamas wedding was secretly bankrolled by a Russian oligarch close to Putin
The 60 Minutes segment on the F-15 pilot who allegedly survived a near-terminal-velocity fall and then hiked a 7,000 foot cliff
The EPA reportedly about to erase limits on climate pollution from power plants
A federal watchdog report finding that “Alligator Alcatraz” locked migrants in tiny metal cages and called them “calming areas”
A Trump-appointed judge just blocked Trump’s mail-in ballot rules
I told you it was a lot. Don’t worry, I’m here to break it all down for you.
Paid subscribers can watch Ben’s report on these afternoon updates right here:
If that list of news made you say ‘WTF,’ consider preorder our new book WTF America so we can get out of this hell together. Let us know if you did in the comments.
Here we go:
Trump’s Truth Social Panic Spiral
Trump was melting down on Truth Social today. I know that’s common, but I have to say, today was even more than unhinged than usual. Trump, for the millionth time, posted that Iran “wants to make a deal, quickly and badly” and that he’ll determine whether the U.S. chooses to engage.
He also posted that Ukraine and Russia have “agreed” not to hit each other’s energy infrastructure and blamed Ukraine, not his war in Iran, for the global rise in diesel prices. Volodymyr Zelenskyy’s statement did not back up what Trump said. The Ukrainian president posted that he has proposed a mutual halt on energy strikes, but is “not convinced that Russia is willing to abide by any agreement,” and that Ukraine is waiting on partners to actually secure and verify Russian compliance before agreeing to anything.
Trump also posted that the U.S. is producing more “exquisite and elite” weapons than at any point in history, as the reality on the ground shows U.S. munitions depleted from the war.
Oil and Diesel Are Spiking
Brent crude is trading around $109 a barrel, WTI around $104. U.S. oil prices are up 56% over the past 10 weeks. Diesel just hit an all-time U.S. high for the 3rd straight day, at $6.23 on average per GasBuddy. It’s due to a bunch of factors. The Houthis have taken control over the entire Red Sea coast in Yemen, giving them effective control over the Bab el-Mandeb Strait, a chokepoint that carried over 9M barrels of crude daily at its peak before the war (roughly 9% of global demand). A 2nd pumping station on Saudi Arabia’s East-West pipeline was destroyed in a drone attack. Ansarallah (The Houthis) continue to hit Aramco facilities. And on top of all that, ExxonMobil’s 275K barrel per day Joliet refinery in Illinois suffered a total power outage earlier, forcing an emergency shutdown of every unit. Black smoke was oddly visibly for miles. AND, BP’s Whiting refinery in Indiana is already partially down for maintenance.
Energy Secretary Chris Wright followed Trump’s lead and blamed Ukraine for the diesel price surge, while Interior Secretary Doug Burgum outrageously claimed that the Venezuela deal steal could let the U.S. refill the Strategic Petroleum Reserve at oil prices as low as $30-$40 a barrel. He separately claimed concerns over data centers are a “foreign psy-ops campaign.” More on that shortly.
Markets and the Deficit
The 10-Year Treasure yield broke 5% for the first time since October 2023, and mortgage rates have moved back above 7% as a result. The federal deficit has reached $1.97 trillion through the first 11 months of fiscal year 2026, the 4th-largest deficit at this point in any fiscal year on record and already higher than the full-year 2025 deficit of $1.78 trillion. Trump posted that price increases right now were caused by “Sleep Joe Biden.” You have to be missing more than a couple braincells to believe him.
Trump Wants No Guardrails for AI
Trump posted multiple times on AI this morning, warning against killing “the Golden Goose” and saying AI doesn’t need any guardrails. The only thing it needs is for Trump to be the president. Trump took aim at people who oppose unfettered AI and data center development, calling them “conspiracy theorists, treasonists, traitors, and leakers.” JD Vance pushed back at AI leaders warning about the existential threat the technology poses, calling their requests for government regulation to be “a bit of a Trojan horse.”
Don Jr.’s Russian Oligarch-Funded Wedding
ProPublica reported this morning that Don Jr.’s May wedding in the Bahamas was secretly financed in part by Umar Kremlev, a Russian oligarch very close to Putin. Kremlev reportedly covered the rental of a private island, a fireworks display, and other major expenses through a Dubai-linked entity, and attended the roughly 50-person wedding along with several other Russian guests. Don Jr.’s wife, Bettina, addressed the story on Instagram, calling the coverage an attempt to “recast” something as personal as “political or sinister,” saying Kremlev generously hosted 2 nights of celebrations. So, not a denial. In fact, confirmation.
The F-15 Pilot Story
60 Minutes aired a segment on the U.S. Air Force pilot ejected during an Iranian attack, reporting that his parachute was damaged and didn’t fully open, causing him to hit the ground at 70 to 100 mph before climbing up a 7,000 foot cliff with a broken back and other broken bones before being rescued. Many people online appear to be highly skeptical of this story.
More Big News: Domestic Politics, EPA, Immigration, Elections, and more
Rep. Greg Murphy (R-NC) admitted on TV ahead of Trump’s planned campaign stop in North Carolina that the economy is “a challenge” right now, adding that he hopes voters focus on the “overall image” of each party rather than the realities of the current moment.
The NY Times reported that the EPA is expected to announce that it will no longer limit greenhouse gas emissions from power plants, the 2nd-largest U.S. source of carbon dioxide, a move that would complete the rollback of the major Biden and Obama-era climate rules.
A DHS inspector general report found that the now-closed “Alligator Alcatraz” facility in Florida held migrants in small metal enclosures, some offering just 18 sq. ft. of space. Staff referred to them as “calming areas.” Detainees were held in them for periods ranging from a few minutes to nearly 2 hours. In at least one occasion, the enclosure was used as punishment for “noncompliance.”
And lastly, a federal judge, Carl Nichols (a Trump appointee), granted preliminary injunctions blocking new USPS mail-in ballot rules that the USPS finalized in August under Trump’s executive order.
That’s the news for now. More to come later. Thanks to everyone for reading, liking, restacking, and subscribing. And thanks again to everyone for preordering our new book WTF America.
If one hadn't been reading the news lately, each of these news items would seem like a bad work of fiction that could never be true.
Trump is the real traitor to the US.