Podcasts about historically

4. Veronique de Rugy: Explains the mass exodus of affluent individuals from high-tax states due to billionaire tax proposals,. She warns that "one-time" taxes historically become permanent, broadening their base to include the middle class,,. (35 words) (4)1910 PACIFIC PALISADES

Historically, certain investments have proved good hedges against rising oil prices. What will determine their effectiveness? The federal agency currently overseeing prediction markets is looking for guidance on the industry. Who is being asked to comment? Finally, International markets have continued 2026 where they left off last year. What could derail the outperformance of international vs. domestic stocks?

Fiona Hill — who served on the National Security Council under three presidents and became a household name during Trump's first impeachment — joins the Chuck ToddCast for a deeply alarming assessment of the Iran war now entering its second week, with Operation Epic Fury having metastasized into a multi-front conflict spanning nine countries, oil prices surging past $100 a barrel, and hundreds of thousands of travelers stranded across the Middle East. Hill dismantles the geopolitical chessboard with surgical precision, explaining that while there is no formal alliance between Russia and Iran and that the relationship is deeply transactional, with Iran having provided Russia with Shahed drones and helped build a drone factory. She argues that China is letting the U.S. "rope-a-dope" itself, sitting back alongside Russia to watch America bleed resources and credibility in yet another Middle Eastern quagmire. She flags the glaring double standard in the administration's diplomacy: envoy Steve Witkoff refused to take the Iranians at their word during nuclear negotiations in Geneva but accepted Russian assurances at face value. The conversation turns existential as Hill warns that Trump's adventurism — which never faced serious consequences through Venezuela or the June 2025 strikes that made Iran look like a paper tiger — has now collided with reality. Trump saw the opportunity to kill Khamenei and took it, hoping for either a popular uprising or a pliant successor, but none of those hopes have materialized. Hill calls it an Afghanistan-and-Iraq-level jam with even less global credibility.. They raise the chilling question of whether Xi Jinping might prioritize seizing Taiwan while America is overextended, observes that NORAD doesn't function without Canada and the Nordic countries that Trump has alienated, warns that the damage to America's reputation will last decades, and notes that individual U.S. states are already setting up their own diplomatic representation with foreign countries to fill the vacuum. They close with a striking contrast: unlike Russians, Americans can still vote their way out of tyranny — but the window in which that remains true may be narrowing, as we are likely entering a post-American empire period. Refresh your wardrobe with Quince. Go to https://Quince.com/chuck for free shipping on your order and 365-day returns. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/chuck. Application times may vary. Rates may vary. Thank you Wildgrain for sponsoring. Visit http://wildgrain.com/TODDCAST and use the code "TODDCAST" at checkout to receive $30 off your first box PLUS free Croissants for life! Timeline: (Timestamps may vary based on advertisements) 00:00 Fiona Hill joins the Chuck ToddCast 01:15 There is no formal alliance between Russia and Iran 02:00 Historically, Russia and Iran clashed over territory 03:45 Iran provided Russia with Shahed drones & helped build factory 04:30 Trump views his relationship with Russia & Putin in a vacuum 05:30 Iran’s relationship with China & Russia is very transactional 06:15 Iran sees itself as a civilization, not just a country 08:00 China is letting the U.S. “rope a dope” itself 09:15 China doesn’t do favors without a cost 10:00 Witkoff didn’t take Iranians at their word but did with Russia 10:30 China & Russia are sitting back and watching what happens in Iran 11:30 Special military operations often become quagmires 12:45 Trump hasn’t thought about the knock-on consequences in Iran 15:00 Administration thinks they can figure it out as they go 15:45 Trump’s adventurism never had serious consequences until now 17:30 9/11 shaped the frame for American thinking for 25 years 18:30 Do you buy that MBS pushed Trump into striking Iran? 19:30 The Chinese didn’t see unintended effects of war in Ukraine 20:30 Russia has 20x casualty rate in Ukraine that USSR had in Afghanistan 22:30 The Israelis are clear that they want regime change 22:45 Outside of eliminating the nuclear program… What's the rest of our aim? 24:15 Without regime change, Iranian and Venezuelan people will turn on Trump 25:15 There’s a large Iranian population is many countries 25:45 Trump is in a Afghanistan/Iraq level jam with no plan 26:30 Gutting of national security council effects on Trump’s planning 27:45 We’ve lost grip of our political system, congress has abdicated 29:00 High oil prices could be a boon to Russia, but shipping is an issue 31:15 Putin doesn’t want to end the war in Ukraine unless its on his terms 32:00 Ukraine has been an incredibly tough fighting force 32:45 The rich & powerful forget that the other 8 billion people have agency 34:15 Ukraine won’t have a peace imposed on it by outsiders 35:00 Trump assumes everyone else is as transactional as he is 36:00 Khamenei is a religious leader, his killing has religious implications 39:00 Asymmetrical war feels unwinnable 41:15 The damage to America’s reputation in the world will last decades 42:15 NORAD doesn’t work without Canada & Nordic countries 44:45 How can a future president try to fix the damage with allies? 45:45 Individual states are setting up representation with foreign countries 47:45 If you’re Xi, do you prioritize seizing Taiwan while Trump’s in office? 49:30 We’re likely in a post-American empire period 50:15 Is there any heir apparent to Putin? 52:30 Next leader of Russia will likely keep the same system in place 54:00 Unlike Russians, Americans can still vote their way out of tyrannySee omnystudio.com/listener for privacy information.

Chuck Todd opens with a grim inventory of an administration besieged on every front as the Iran war enters its twelfth day with no exit strategy in sight. He then pivots to the SAVE Act — the Republican voting bill that has 50 Senate votes but faces a filibuster John Thune admits he likely can't break. He walks through the details that go well beyond simple voter ID: the bill requires documentary proof of citizenship to register, treats women who change their name through marriage as first-time voters, and Trump is demanding additions including a near-total ban on mail-in voting — turning what polls show is an 80%-popular concept into a toxic package that could disenfranchise millions. He notes that John Cornyn flipped his filibuster position to chase Trump's Texas endorsement, warns that if Republicans nuke the filibuster and Democrats later win the Senate they won't restore it, and argues that Republicans are essentially writing legislation to make Trump's false fraud claims real — while Trump is already setting up the SAVE Act's inevitable failure as his preemptive excuse for midterm losses that have nothing to do with voting rules and everything to do with an unpopular war, a tanking economy, and a completely unserious leader running the Pentagon. Ultimately, he argues that partisan changes to voting rule destroy trust in democracy, whether it be the SAVE Act, or Democrats efforts to pass HR1. Then, Fiona Hill — who served on the National Security Council under three presidents and became a household name during Trump's first impeachment — joins the Chuck ToddCast for a deeply alarming assessment of the Iran war now entering its second week, with Operation Epic Fury having metastasized into a multi-front conflict spanning nine countries, oil prices surging past $100 a barrel, and hundreds of thousands of travelers stranded across the Middle East. Hill dismantles the geopolitical chessboard with surgical precision, explaining that while there is no formal alliance between Russia and Iran and that the relationship is deeply transactional, with Iran having provided Russia with Shahed drones and helped build a drone factory. She argues that China is letting the U.S. "rope-a-dope" itself, sitting back alongside Russia to watch America bleed resources and credibility in yet another Middle Eastern quagmire. She flags the glaring double standard in the administration's diplomacy: envoy Steve Witkoff refused to take the Iranians at their word during nuclear negotiations in Geneva but accepted Russian assurances at face value. The conversation turns existential as Hill warns that Trump's adventurism — which never faced serious consequences through Venezuela or the June 2025 strikes that made Iran look like a paper tiger — has now collided with reality. Trump saw the opportunity to kill Khamenei and took it, hoping for either a popular uprising or a pliant successor, but none of those hopes have materialized. Hill calls it an Afghanistan-and-Iraq-level jam with even less global credibility.. They raise the chilling question of whether Xi Jinping might prioritize seizing Taiwan while America is overextended, observes that NORAD doesn't function without Canada and the Nordic countries that Trump has alienated, warns that the damage to America's reputation will last decades, and notes that individual U.S. states are already setting up their own diplomatic representation with foreign countries to fill the vacuum. They close with a striking contrast: unlike Russians, Americans can still vote their way out of tyranny — but the window in which that remains true may be narrowing, as we are likely entering a post-American empire period. Finally, he answers listeners’ question in the “Ask Chuck” segment and celebrates the start of March Madness. Refresh your wardrobe with Quince. Go to https://Quince.com/chuck for free shipping on your order and 365-day returns. Protect your family with life insurance from Ethos. Get up to $3 million in coverage in as little as 10 minutes at https://ethos.com/chuck. Application times may vary. Rates may vary. Thank you Wildgrain for sponsoring. Visit http://wildgrain.com/TODDCAST and use the code "TODDCAST" at checkout to receive $30 off your first box PLUS free Croissants for life! Timeline: (Timestamps may vary based on advertisements) 00:00 Chuck Todd’s introduction 04:30 There’s no easy way for Trump to get out of Iran 05:30 It’s become clear US responsible for bombing Iranian school 06:15 FBI warns California law enforcement of threat of Iranian drone strikes 07:15 The fallout from the war is complicated & Trump can’t just turn it off 08:30 Drone attack that killed US soldiers far more serious than initially reported 09:15 Republicans in congress are demoralized & don’t know what to run on 10:45 Pentagon bars press for publishing “unflattering” photos of Pete Hegseth 12:00 We have a serious war and a completely unserious leader of the Pentagon 12:45 Republican senators knew Hegseth was unqualified & confirmed him anyway 14:15 It’s important to explain the details of the Republican SAVE Act 15:00 John Cornyn flipped position on the filibuster to try to earn Trump endorsement 15:30 Republicans likely don’t have the votes to kill the filibuster 16:15 Contrasting and comparing Democrats HR1 vs Republicans SAVE Act 18:15 SAVE Act requires proof of citizenship to vote 19:00 Trump wants a total ban on mail in voting and all voting on one day 20:00 If GOP kills filibuster & Dems win senate, Dems won’t restore it 20:45 If passed in a partisan vote, SAVE Act would delegitimize democracy 21:45 If rules change based on who’s in power, the public will lose faith in process 23:30 We’re seeing a collision of two partisan visions over who gets to vote 24:30 SAVE Act makes voter registration a “show your papers” event 25:30 There’s a massive gap between bill passed in house & what Trump wants 26:00 Trump is demanding a bill loaded with culture war items 27:30 If Republicans jam through the SAVE Act, it could juice Democratic turnout 29:00 Voter ID isn’t controversial with the public 29:45 There’s 80% support for proof of citizenship when registering to vote 30:15 Republicans believe it should be harder to vote, Dems think it should be easier 31:30 Trump is taking popular ideas and packaging them in a bill that is toxic 32:30 Stability in a democracy doesn’t come from a 51% majority 33:45 34k people in Arizona were barred from state elections, but had federal carve out 35:00 Almost no voter fraud has actually been found 36:00 If you change name or get married, SAVE Act treats you as first time voter 37:30 America already makes life harder on women, SAVE Act makes it worse 38:15 The SAVE Act goes WELL beyond voter ID 39:00 Republicans are writing a bill to make Trump’s bullshit real 39:45 Trump will blame failure to pass SAVE Act for election losses in midterms 41:00 SAVE Act would disenfranchise or add barriers for millions of voters 42:00 Individual citizens have no constitutional right to vote 42:45 State constitutions provide voting guarantees, SAVE Act contradicts that 44:15 Changes to voting rules need bipartisan public consensus 50:15 Fiona Hill joins the Chuck ToddCast 51:30 There is no formal alliance between Russia and Iran 52:15 Historically, Russia and Iran clashed over territory 54:00 Iran provided Russia with Shahed drones & helped build factory 54:45 Trump views his relationship with Russia & Putin in a vacuum 55:45 Iran’s relationship with China & Russia is very transactional 56:30 Iran sees itself as a civilization, not just a country 58:15 China is letting the U.S. “rope a dope” itself 59:30 China doesn’t do favors without a cost 1:00:15 Witkoff didn’t take Iranians at their word but did with Russia 1:00:45 China & Russia are sitting back and watching what happens in Iran 1:01:45 Special military operations often become quagmires 1:03:00 Trump hasn’t thought about the knock-on consequences in Iran 1:05:15 Administration thinks they can figure it out as they go 1:06:00 Trump’s adventurism never had serious consequences until now 1:07:45 9/11 shaped the frame for American thinking for 25 years 1:08:45 Do you buy that MBS pushed Trump into striking Iran? 1:09:45 The Chinese didn’t see unintended effects of war in Ukraine 1:10:45 Russia has 20x casualty rate in Ukraine that USSR had in Afghanistan 1:12:45 The Israelis are clear that they want regime change 1:13:00 Outside of eliminating the nuclear program… What's the rest of our aim? 1:14:30 Without regime change, Iranian and Venezuelan people will turn on Trump 1:15:30 There’s a large Iranian population is many countries 1:16:00 Trump is in a Afghanistan/Iraq level jam with no plan 1:16:45 Gutting of national security council effects on Trump’s planning 1:18:00 We’ve lost grip of our political system, congress has abdicated 1:19:15 High oil prices could be a boon to Russia, but shipping is an issue 1:21:30 Putin doesn’t want to end the war in Ukraine unless its on his terms 1:22:15 Ukraine has been an incredibly tough fighting force 1:23:00 The rich & powerful forget that the other 8 billion people have agency 1:24:30 Ukraine won’t have a peace imposed on it by outsiders 1:25:15 Trump assumes everyone else is as transactional as he is 1:26:15 Khamenei is a religious leader, his killing has religious implications 1:29:15 Asymmetrical war feels unwinnable 1:31:30 The damage to America’s reputation in the world will last decades 1:32:30 NORAD doesn’t work without Canada & Nordic countries 1:35:00 How can a future president try to fix the damage with allies? 1:36:00 Individual states are setting up representation with foreign countries 1:38:00 If you’re Xi, do you prioritize seizing Taiwan while Trump’s in office? 1:39:45 We’re likely in a post-American empire period 1:40:30 Is there any heir apparent to Putin? 1:42:45 Next leader of Russia will likely keep the same system in place 1:44:15 Unlike Russians, Americans can still vote their way out of tyranny 1:48:30 Across the country there’s serious frustration with federal politics 1:50:00 Ask Chuck 1:50:15 How is the psyche of the American people able to handle constant crisis? 1:55:30 Are the war and Epstein files just distracting from importance of midterms? 1:59:00 Have larger sums of money started to become irrelevant in elections? 2:03:00 At what point does fundraising advantage stop matter? 2:07:15 Chances of false flag blamed on Iran to provide pretext to mess with elections? 2:13:00 Thanks for giving me hope while feeling like we’re living through fall of Rome 2:16:30 How can a future president reverse course on tariffs? 2:19:00 Thoughts on March MadnessSee omnystudio.com/listener for privacy information.

Joe looks at competing theories about the story of Noah’s Ark and other similar flood myths. Transcript: Joe: Welcome back to Shameless Popery. I’m Joe Heschmeyer, and I want to ask three questions today about Noah’s Ark and the Great Flood. Question number one, did it really happen or is it just a retelling of older Babylonian stories? Question number two, if it did really happen, was it a global flood or a local or regional flood? And finally, question three, are we missing the point of the story and asking these questions? Now, if you like videos like this, I encourage you...

How important is exercise intensity in reducing your risk of chronic disease? Amy Hudson and Dr. James Fisher break down the real science behind intensity, longevity, and disease risk using data from over 73,000 adults tracked for eight years. They discuss why higher intensity training may deliver outsized returns for heart health, metabolic function, and overall mortality risk. Tune in for a deeper, research-driven look at intensity and longevity. Dr. Fisher breaks down a research article about vigorous versus moderate or light cardiovascular activity. The conversation sets the stage for a deeper look at whether intensity changes long-term health outcomes. Dr. Fisher covers what the researchers did. They analyzed fitness tracker data from tens of thousands of individuals and followed them for eight years. Then they examined mortality, cardiovascular disease risk, and other comorbidities to see how exercise intensity related to long-term outcomes. Dr. Fisher explains how we equate exercise intensity using METs, where one MET equals the energy you burn sitting quietly.  According to the research findings, one minute of vigorous activity may equal anywhere from 53 to 156 minutes of light activity, depending on the outcome measured. Dr. Fisher explains how this challenges older thinking. Historically, one minute of vigorous activity was considered equal to about two minutes of moderate activity. This research suggests the gap may be much wider, strengthening the case for adding higher-intensity work or strength training that builds muscle and raises resting metabolic rate. Amy and Dr. Fisher cover the question marks in the research paper. Participants wore trackers for three to seven days per week over eight years. We have no insight into changes in exercise habits, illness, nutrition, sleep, substance use, or socioeconomic factors during that time. Dr. Fisher explains a key limitation of fitness trackers. If you hike uphill with a heavy backpack, the device mainly detects wrist movement, not load or incline. That means muscular effort and true intensity can be underestimated, especially during resistance-based or loaded activities. Amy shares why working with a personal trainer can change how you think about intensity. She reveals that not all movement is equal, and a skilled coach can help you focus on vigorous training instead of just exercising longer. Amy asks the bigger question: if someone simply wants to lower overall disease risk, where should they focus?  Dr. Fisher explains why movement is foundational. The body is built to contract muscles and move, and without that stimulus, very little functions optimally. He pairs that with practical advice: prioritize whole foods, limit processed options, and focus on fruits, vegetables, and protein in their natural form. Learn why sleep can't be ignored. You can train hard and eat well, but chronic poor sleep undermines everything. Research consistently links low-quality or insufficient sleep to obesity, diabetes, and even certain cancers. Dr. Fisher's closing remarks: Exercise, nutrition, and sleep are the core pillars. If you consistently check those three boxes, you dramatically improve your odds of a longer, healthier life. Why personal training supports long-term health, not just fitness. Strength, cardiovascular health, and metabolic improvements all depend on consistency and proper load. A good strength coach ensures your body moves efficiently, reduces injury risk, and makes every workout count toward longevity.     Mentioned in This Episode: The Exercise Coach - Get 2 Free Sessions! Submit your questions at StrengthChangesEverything.com     This podcast and blog are provided to you for entertainment and informational purposes only. By accessing either, you agree that neither constitute medical advice nor should they be substituted for professional medical advice or care. Use of this podcast or blog to treat any medical condition is strictly prohibited. Consult your physician for any medical condition you may be having. In no event will any podcast or blog hosts, guests, or contributors, Exercise Coach USA, LLC, Gymbot LLC, any subsidiaries or affiliates of same, or any of their respective directors, officers, employees, or agents, be responsible for any injury, loss, or damage to you or others due to any podcast or blog content.

I was able to get a rare interview with a member of the Church of Christ (Temple Lot.) Daniel Malone is an adult Sunday school teacher for the church in Independence, Missouri. He provides a candid look into the history and theology of the organization, often historically referred to as the “Hedrickites.” https://youtu.be/pe4r4P3PkQ0 Don't miss our other conversations on Hedrickites: https://gospeltangents.com/denominations/Hedrickites/ Copyright © 2026 Gospel Tangents All Rights Reserved Scripture and the Book of Commandments The Church of Christ grounds its doctrine strictly in the King James Version of the Bible and the Book of Mormon (specifically utilizing their 1990 Independence Edition, which is based on the 1908 RLDS version.) Any theological belief must completely agree with both of these texts. A major highlight of the interview is Malone’s clarification on the Church of Christ (Temple Lot)’s position regarding the Book of Commandments. While outsiders often mistakenly assume it acts as the church’s canonized version of the Doctrine and Covenants, Malone explains that the church recently voted to officially stop printing it and distance themselves from it. The church has never considered the Book of Commandments to be binding scripture. Historically, it was used primarily as an evidentiary tool to demonstrate how early revelations were manipulated and changed when the Doctrine and Covenants was published. The Church of Christ completely rejects the Doctrine and Covenants, making this historical comparison crucial during late 19th-century ideological splits with the RLDS Church/Community of Christ. Church of Christ (Temple Lot) 1830 Roots Malone outlines the church’s desire to strip away what they view as “inventions” that crept into the early Mormon movement between 1830 and 1844. They believe Joseph Smith took on too much authority and that the church should be led collectively by a quorum of twelve apostles, rather than a single prophet, closely mirroring the New Testament church found in Acts. Following the scattering of church members after Joseph Smith’s death, a small, isolated group of believers in Illinois and Indiana maintained these original foundational beliefs. Under the leadership of Granville Hedrick, they received a revelation to return to Independence, Missouri. In 1867, they became the very first restoration group to bravely resettle in Missouri, doing so while the Mormon Extermination Order was still active. Women's Roles and Local Autonomy Malone also takes time to correct a misconception regarding the role of women in the Church of Christ. While they do not hold ministerial priesthood offices, women are considered essential spiritual pillars of the church. They take active roles in worship services, where they pray, testify, prophesy, teach Sunday school, and lead music. Malone also shares his own relaxed, autonomous approach to teaching his adult Sunday school class, noting that they do not follow a set correlation schedule, but rather study whatever topics excite him or inspire the class. The episode wraps up by teasing the next part of the conversation, which promises to dive into the controversies surrounding the 1930s apostle Otto Fetting, his massive blueprints for a temple, and the mysterious cornerstones unearthed on the temple lot. Don't miss our other conversations on Hedrickites: https://gospeltangents.com/denominations/Hedrickites/ Copyright © 2026 Gospel Tangents All Rights Reserved

Escalating conflict between the US-Israel-Iran is sending shockwaves through global markets—and precious metals are right at the center of the story. Oil disruptions, rising geopolitical risk, and growing financial uncertainty are all reshaping investor demand for gold and silver. Historically, periods of war and instability have driven investors toward hard assets as a hedge against volatility. But the current situation could carry deeper implications for currencies, energy markets, and global debt. Listen in for a deeper breakdown of what's happening and how these developments could impact gold and silver investors.

Historically, 2nd round picks by the Jets at QB have been awful. A new segment, Doing the Wrong Thing the Right Way, that features Girl Scouts setting up a cookie stand outside a dispensary! And the Samwell Feel Good Moment of the Week! Learn more about your ad choices. Visit podcastchoices.com/adchoices

A whole lot of gopher hockey talk at the beginning of the show followed by a great segment with Star Tribune columnist Chip Scoggins

The Greenhouse Gas Protocol has developed the world's most widely used greenhouse gas accounting standards and guidance since launching in 1998 as a joint initiative of the World Resources Institute (WRI) and the World Business Council for Sustainable Development (WBCSD).  In this episode of the All Things Sustainable podcast, we unpack how GHG Protocol is now evolving — including updating its Scope 2 guidance and Scope 3 standard, launching a new 'actions and market instruments' standard, and working with other standard-setters to create harmonization — for example, announcing a partnership with the International Organization for Standardization (ISO) in 2025. "Historically, fragmentation in carbon accounting has been a huge problem," says Pankaj Bhatia, GHG Protocol Global Director at WRI and part of GHG Protocol's Secretariat. In the episode, Pankaj explains what's ahead for greenhouse gas accounting and reporting standards and how GHG Protocol is responding to stakeholder feedback from recent public consultations. "Climate change is not a siloed operational issue. It's a systemic issue," Pankaj tells us. "And if the problem is systemic, the accounting system must also be systemic." Explore company carbon disclosure practices in the S&P Global Corporate Sustainability Assessment  Further reading: GHG Protocol Scope 2 Guidance public consultation: S&P Global Energy Horizons submitted response  Contact:   Lindsey.hall@spglobal.com  Esther.whieldon@spglobal.com  Copyright ©2026 by S&P Global   DISCLAIMER By accessing this Podcast, I acknowledge that S&P GLOBAL makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk.         Any unauthorized use, facilitation or encouragement of a third party's unauthorized use (including without limitation copy, distribution, transmission or modification, use as part of generative artificial intelligence or for training any artificial intelligence models) of this Podcast or any related information is not permitted without S&P Global's prior consent subject to appropriate licensing and shall be deemed an infringement, violation, breach or contravention of the rights of S&P Global or any applicable third-party (including any copyright, trademark, patent, rights of privacy or publicity or any other proprietary rights).    This Podcast should not be considered professional advice. Unless specifically stated otherwise, S&P GLOBAL does not endorse, approve, recommend, or certify any information, product, process, service, or organization presented or mentioned in this Podcast, and information from this Podcast should not be referenced in any way to imply such approval or endorsement. The third party materials or content of any third party site referenced in this Podcast do not necessarily reflect the opinions, standards or policies of S&P GLOBAL. S&P GLOBAL assumes no responsibility or liability for the accuracy or completeness of the content contained in third party materials or on third party sites referenced in this Podcast or the compliance with applicable laws of such materials and/or links referenced herein. Moreover, S&P GLOBAL makes no warranty that this Podcast, or the server that makes it available, is free of viruses, worms, or other elements or codes that manifest contaminating or destructive properties.       S&P GLOBAL EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY OR RESPONSIBILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES ARISING OUT OF ANY INDIVIDUAL'S USE OF, REFERENCE TO, RELIANCE ON, OR INABILITY TO USE, THIS PODCAST OR THE INFORMATION PRESENTED IN THIS PODCAST.

In today's episode, we're diving into these specific altcoins that have remained strangely quiet during this BTC pump. Historically, when Bitcoin stalls or consolidates at these new highs, the "Great Rotation" begins—and these assets are primed for a massive catch-up play.

We are releasing today on our Consumer Finance Monitor podcast our host Alan Kaplinsky's discussion with Marisa Calderon, President and CEO of Prosperity Now, about two high-profile policy proposals raised or embraced by President Trump as part of a broader populist affordability agenda: 1.         A nationwide 10% cap on credit card interest rates for one year. 2.         The Credit Card Competition Act (CCCA), long championed by Senator Dick Durbin which would require large credit card issuers to enable at least two unaffiliated payment networks (only one of which could be MasterCard or VISA) on their cards. Each proposal is framed as pro-consumer. Each has generated significant pushback from banks, card issuers, and trade associations. However, even consumer advocacy groups have raised serious questions about the wisdom of such initiatives. Prosperity Now is a non-profit organization dedicated to advancing economic mobility, with a focus on those facing economic barriers. Each raises fundamental questions about how to balance affordability and access in the consumer credit market. Our discussion focused on a central theme: affordability is a real and pressing concern, but policy design matters enormously. Credit Card APRs: A Real Affordability Pressure As Calderon emphasized, policymakers are not wrong to focus on credit card interest rates. Average credit card APRs now hover around 22%, up sharply from roughly 13% a decade ago. Approximately half of cardholders carry a balance, and many rely on credit cards not for discretionary spending, but as liquidity bridges, covering emergency medical bills, car repairs, groceries, and other essentials. For lower and moderate-income households, credit cards are often the only readily available, regulated source of short-term liquidity. That makes rising APRs particularly painful. Calderon's formulation is apt: policymakers have identified the right problem. The harder question is whether they have identified the right solution. The 10% Interest Rate Cap: Lessons from History The proposal to impose a flat 10% nationwide cap on credit card interest rates for one year would represent an unprecedented federal intervention into unsecured revolving credit markets. Credit cards are unsecured and priced for risk. Interest margins help issuers cover expected charge-offs, volatility, and operational costs. If pricing flexibility is removed, lenders cannot simply absorb the loss, they adjust. Historically, those adjustments take predictable forms: •                 Tighter underwriting standards •                 Higher minimum credit scores •                 Lower credit limits •                 Reduced rewards programs •                 Increased non-interest fees •                 Exit from higher-risk market segments The likely result, as Calderon noted, is credit contraction, particularly affecting marginal and lower-income borrowers. The most relevant historical example may be the 1980 credit controls imposed during the Carter Administration, which were rescinded within months after causing severe market disruption. A more targeted example is the 36% APR cap under the Military Lending Act, which illustrates both the importance of bipartisan legislative design and the reality that even well-intentioned caps can reduce access at the margins. Recent Federal Reserve research on state usury caps reinforces this concern: when interest rate ceilings are imposed, credit to higher-risk borrowers contracts, credit to lower-risk borrowers expands, and delinquency rates do not meaningfully improve. In other words, credit is reallocated, not necessarily improved. Even a "temporary" cap may have durable consequences. Issuers that exit certain segments or reduce credit lines are not obligated, and may not be economically inclined, to restore them once the cap expires. Credit score impacts and reduced access can linger well beyond the formal life of the policy. As Calderon put it, blunt price controls are a chainsaw when what is needed is a scalpel. Affordability in Context: What Drives Household Budgets? An additional consideration is scale. Research recently highlighted by the Consumer Bankers Association shows that the fastest-growing household expenses from 2013–2024 were healthcare, shelter, food, and vehicles. Credit card interest represents a relatively small share of average household expenditures. This does not minimize the pain of high APRs, especially for households carrying persistent balances, but it does raise an important structural question: can credit card rate caps meaningfully solve broader affordability challenges rooted in housing, medical costs, food inflation, and transportation? Credit cards are often the mechanism households use to cope with those rising costs. Constraining access to that liquidity may exacerbate, rather than relieve, financial stress. The Credit Card Competition Act: Structural Reform or Indirect Price Control? The second proposal we discussed, the Credit Card Competition Act (the "CCCA"), takes a different approach. Rather than capping interest rates, the CCCA would require large issuers to offer merchants at least two unaffiliated network routing options (only one of which could be Visa or Mastercard). The theory is that routing competition would reduce interchange fees ("swipe fees"), lowering merchant costs and ultimately consumer prices. Merchants have generally supported the proposal. Banks and card issuers have strongly opposed it. The consumer-facing promise is straightforward: lower merchant fees should translate into lower retail prices, but history complicates that assumption. The Durbin Amendment to the Dodd-Frank Act imposed caps on debit card interchange fees for large issuers and included routing requirements. While interchange revenue declined, Calderon pointed out that empirical evidence suggests that cost savings were not consistently passed through to consumers in the form of lower prices. At the same time, banks offset lost revenue through higher account fees and reduced benefits. A similar dynamic could unfold in the credit card market. Interchange revenue helps fund: •           Rewards programs •           Fraud detection and prevention •           Customer service infrastructure •           Risk management If that revenue is compressed, issuers may respond with tighter underwriting, reduced rewards, or new fee structures. As Calderon observed, although the CCCA operates through indirect price pressure rather than a direct APR ceiling, downstream effects could look similar. Distinguishing Populist Framing From Durable Reform Both the rate cap and the CCCA are framed as pro-consumer, populist reforms. The political appeal is clear, but distinguishing headline appeal from durable consumer benefit requires careful analysis. Calderon suggested several guideposts policymakers should consider: •                 Access – Does the reform preserve or expand access for low- and moderate-income borrowers? •                 Incidence – Who actually captures the gains? Consumers, merchants, intermediaries, or some combination? •                 Substitution effects – Does the policy push consumers toward higher-cost, less-regulated alternatives such as payday or fringe products? •                 Durability – What happens after implementation? Do markets rebound, or do credit line reductions and underwriting changes persist? These questions are not ideological. They are structural. Affordability and access are not opposing values. The policy challenge is designing reforms that alleviate financial strain without narrowing the regulated credit tools families rely on when emergencies arise. The Bottom Line Affordability concerns are real. Rising APRs are real. Financial stress among many households is real. But blunt price caps may reduce rates on paper while reducing access in practice. Structural competition mandates may promise savings that do not materialize at the checkout counter. Durable consumer protection requires careful calibration — the scalpel, not the chainsaw. For industry participants, policymakers, and advocates alike, the takeaway is straightforward: evidence and market mechanics matter. Populist framing may win headlines, but long-term financial stability depends on policy design that accounts for how credit markets actually function. As always, we will continue to monitor these proposals and their evolution in Congress and the Administration.  It may be noteworthy that President Trump did not mention either proposal during his almost two-hour State of the Union Address on January 24th. Consumer Finance Monitor is hosted by Alan Kaplinsky, Senior Counsel at Ballard Spahr, and the founder and former chair of the firm's Consumer Financial Services Group. We encourage listeners to subscribe to the podcast on their preferred platform for weekly insights into developments in the consumer finance industry.

“When you're dealing with life-safety systems, power failure simply isn't an option,” says Jake Jacoby, CEO of TELCLOUD. In the latest episode of the TELCLOUD POTS and Shots Podcast Series, Doug Green, Publisher of Technology Reseller News, speaks with Jacoby about one of the most important but sometimes overlooked elements of modern POTS replacement deployments: reliable backup power. As legacy copper networks disappear, organizations are replacing traditional POTS lines used by elevators, fire alarms, emergency phones, and security systems with modern IP and wireless solutions. While the new technologies provide flexibility and cost savings, Jacoby emphasizes that power resilience must be engineered into every deployment. Historically, copper lines delivered their own power from the central office, allowing analog phones and emergency systems to continue operating during local power outages. Modern replacements must replicate that reliability through battery backup systems and redundant power strategies. Jacoby explains that a properly designed POTS replacement solution must ensure that critical communications remain operational even when a building loses electricity. Backup batteries, remote monitoring, and system alerts are all part of the architecture needed to meet regulatory requirements and maintain life-safety compliance. The discussion also highlights the role of channel partners and MSPs in helping customers navigate this transition. As copper lines are retired worldwide, partners have an opportunity to modernize infrastructure while ensuring that the essential communication path for safety systems remains intact. For organizations deploying POTS replacement, Jacoby advises that reliability should always come first. “You're not just replacing a phone line,” he explains. “You're protecting the communication path for systems people rely on in emergencies.” The episode concludes with the series' signature Shots segment, where Jacoby continues the podcast's tradition of highlighting exceptional sipping tequilas—pairing conversations about mission-critical telecom infrastructure with a lighter moment for listeners. For more information, visit https://www.telcloud.com/ or call 844-900-2270.

Our Deputy Global Head of Research Michael Zezas and Head of Public Policy Research Ariana Salvatore assess the potential market outcomes of the Middle East conflict, weighing its possible duration and economic impact.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Morgan Stanley's Deputy Global Head of Research. Ariana Salvatore: And I'm Ariana Salvatore, Head of Public Policy Research. Michael Zezas: Today we're discussing the escalating U.S.-Iran conflict, the market reaction, and what investors should be watching for next. It's Wednesday, March 4th at 7:30am in San Francisco. Ariana Salvatore: And 10:30am in New York. Michael Zezas: So, Ariana, I'm in San Francisco at Morgan Stanley's TMT Conference, but obviously events in the Middle East have captured everyone's attention. There's uncertainty around the conflict and really important questions about how it affects all of us. And of course, markets have to discount all sorts of future uncertainty about very specific impacts – to financial asset prices, to commodity prices – and really look at it through that narrow lens.And so, Ariana, the administration has suggested that this conflict and this campaign could last a few weeks. But also it said it could continue as long as it takes. So, what are the clearest signals investors should watch for to gauge duration? Ariana Salvatore: For now, we're focused on three main indicators. First, I would say, and most important, is clarity around the objectives. The president and others in the administration have referenced things like eliminating Iran's missile arsenal, its navy and limiting proxy activity. Those goals are broader than the earlier focus on just the nuclear programs. Each objective, of course, implies a different timeline. A narrower objective likely means a shorter engagement. Broader ambitions, conversely, would extend it. So that's the first thing. Second, obviously extremely important is traffic through the Strait of Hormuz. We'd viewed a full closure as unlikely, given the economic consequences for Iran itself. But tanker flows have at least temporarily fallen close to zero, and that's significant because production across the region has not been impaired. This is not about oil fields going offline. It's about whether or not oil can actually move. If shipping lanes normalize within weeks, markets can recalibrate. However, if flows remain materially curtailed beyond five weeks, the risks rise meaningfully. Third, the frequency of strikes and proxy activity. Sustained or escalating engagement would suggest a longer conflict. Signs of diplomacy, on the other hand, might indicate de-escalation. Michael Zezas: Right. So, let's build on that and talk about oil. And our colleague, Martijn Rats has really laid this out with a lot of different scenarios. But what we're seeing right now is that when it comes to oil, this is really a shock to the transport of it, not necessarily a shock to its production. So, oil supply exists. The question is really – can it be delivered or not? So, if tanker flows normalize and the geopolitical risk premium fades, what Martijn is saying is that global oil prices could move back towards $60 to $65 a barrel. If the logistical disruption lasts four to five weeks, then prices maybe trade in the $75 to $80 range. And if disruption extends beyond five weeks and flows are materially constrained, then you could see a situation where oil prices have to rise towards $120 or $130 a barrel. And at that level, demand destruction is what becomes the balancing mechanism in setting price for oil. So, one signal to watch is longer dated oil prices. Early month contracts can spike during geopolitical stress, but a sustained move materially above $80 to $85 [per] barrel would likely require longer dated prices to move higher as well. And that might signal that markets believe the disruption is persistent and not temporary. Ariana, what about natural gas here? How does gas situation fit into the energy story? Ariana Salvatore: As of this recording, Qatar has halted liquified natural gas production putting roughly 20 percent of global supply at risk. Prices have, as you might expect, risen sharply, which likely reflects expectations of a relatively short disruption. If exports were to resume quickly, prices could retrace. But, of course, if the outage lasts longer, prices could move meaningfully higher. Again, duration of the conflict is really critical here. Michael Zezas: So, let's bring this back to the U.S. Ariana, how does this conflict feed into the domestic, political and economic backdrop? Ariana Salvatore: When we're thinking about the midterm elections later this year, the way we see it, the clearest transmission channel is gasoline prices. Polling shows a majority of Americans oppose military action related to Iran, but voters typically prioritize domestic issues: things like inflation, cost of living, affordability over foreign policy. However, there's a very clear caveat here. If oil prices stay elevated, gasoline prices rise, and that's where this becomes politically more salient. Michael Zezas: Right, and so our economists and our chief U.S. Economist Michael Gapen has been all over this. And the way he assesses it is if oil prices remain about 10 percent higher than where they were before the conflict for several months, headline inflation would likely rise by 0.3 percent before dissipating. Historically, oil price shocks primarily affect headline inflation rather than underlying inflation. That's an important distinction that they point out. So maybe that could delay Federal Reserve rate cuts, even if policymakers ultimately look through the move. But if oil prices rise enough to weaken economic activity, particularly in the labor market or consumer spending, then our economists say the Fed could pivot toward easing despite elevated inflation. Ariana Salvatore: So, given that backdrop, what's the simple takeaway for investors in stocks or bonds? Michael Zezas: Right. So, I think we have to think about this in terms of duration of conflict and economic impact. So, if tanker flows normalize within a few weeks and oil prices move back towards that $60 to $65 range, then our economists are saying economic damage would be limited. And historically geopolitical events alone have not led to sustained volatility for U.S. equities. So, in that environment, our cross-asset team points out that stocks would likely remain supported. If instead, oil prices remain elevated long enough to push inflation higher and weigh on growth, the picture would change. A sharp and persistent rise in oil prices – that can pose a risk to the duration of the business cycle, and in that scenario, we'd expect stocks to struggle. Importantly, bonds may not provide the same diversification benefit if inflation remains sticky as a consequence of all of this. We could see stock and bond prices move in the same direction. That could challenge traditional balanced portfolios. Ariana Salvatore: And what are we seeing specifically in U.S. Treasury markets? Michael Zezas: So, as Matt Hornbach and our global macro strategy team have pointed out here, you've got two competing forces in the U.S. Treasury market. There's been some demand for safety, but investors are also focused on the risk that higher oil prices would lift inflation. So far, inflation concerns have taken precedence over growth concerns. How long that balance holds – that might depend on incoming data, especially labor market data. If you get weaker labor market data suggesting that growth could weaken, then you could see treasuries rally more meaningfully and yields come down. If you don't see that and inflation concerns dominate, then maybe you're not going to see yields come down as much. And bonds rally as much. Ariana Salvatore: So, stepping back, it seems like the key variables remain tanker traffic, longer dated oil prices and duration of the conflict itself. Michael Zezas: I think that's right. Ariana, thanks for speaking with me. Ariana Salvatore: Always a pleasure, Mike. Michael Zezas: And thanks to our listeners for joining us. We'll continue tracking developments and what they mean for markets. If you enjoy Thoughts on the Market, please take a moment to rate and review us wherever you listen and share the podcast with a friend or colleague.Important note regarding economic sanctions. This report references jurisdictions which may be the subject of economic sanctions. Readers are solely responsible for ensuring that their investment activities are carried out in compliance with applicable laws.

A new generational poll is raising eyebrows — and igniting controversy. According to research led by psychologist Jean Twenge, the percentage of young adults identifying as LGBTQ has fallen sharply after peaking just a few years ago. 2022: 20% of young adults identified as LGB 2025: 15% identify as LGB A 21% decline in just three years What happened? Was the spike cultural? Political? Generational? Did media representation inflate identity trends? Or is this simply a correction after rapid social change? Today, we unpack: The dramatic Gen Z identity surge Why identification peaked in 2022 The role of media and corporate representation The “social contagion” debate Whether political power influences cultural identity This is one of the most sensitive — and statistically fascinating — cultural shifts of the decade.

David McKnight discusses the allocation of $1M if he had it to invest in 2026.  David sees a taxable brokerage account as the least efficient investment account you could possibly own – since it's taxed every year and it's exposed to both short- and long-term capital gains. While this type of account is liquid and can serve as an excellent emergency fund, it's the most tax-unfriendly of all the investment alternatives. The goal, says David, isn't to grow wealth within this type of account, rather to use it as a funding source to systematically build multiple tax-free income streams for retirement. Roth IRAs, which can be funded for a combined $17,200 per year (for your and your spouse's Roth IRA) is the first place David believes the money should go. Next, you should aim at maxing out your Roth 401(k)s – which is $24,500 a person for people under 50 and $32,500 per person. David explains how you can convert taxable money into tax-free money without triggering a massive taxable event and without disrupting your lifestyle. 70% total U.S. stock market index fund, 30% total international stock market index fund is the only allocation you'll ever need, says David. Having to properly structure and fully fund an indexed universal life policy (IUL) is the most misunderstood piece of the strategy discussed by David. The idea is to see an IUL as a way to grow a portion of the $1M portfolio safely and productively, and not to use it as an investment replacement or stock alternative… Historically, IULs have grown 5-7% in net fees over time – with zero stock market risks. The goal of day one of retirement is to have 3-5 years of living expenses sitting in your IUL's cash value, tax-free. This is your volatility buffer. According to a recent Ernst & Young study, the strategy discussed in this episode provides far more income, a far greater likelihood that your money will last through life expectancy and far more money to the next generation compared to the investment-only approach. Suze Orman recommends the exact same strategy but with a difference: Instead of using an IUL she suggests using a savings account that has rock bottom taxable rates of return. However, an IUL is a more effective tool, as it grows far more productively as tax-free, protects your principal, and the death benefit can double as long-term care protection. David's strategy doesn't include bonds as an IUL is safer: No sequence of returns risk early in retirement, not being forced to sell stocks in a down market. "I generally don't ever recommend bonds. There are far better instruments that are safer, more productive, and more tax-efficient tools, with IUL being one of them", illustrates David.  Many experts expect tax rates to rise dramatically by 2035 to pay interest on the national debt, bail out Social Security, and bail out Medicare and Medicaid. When that happens, you just don't want to be sitting on a massive taxable account..! The goal is to shift as much as possible from the $1M portfolio into tax-free accounts before 2035 – you want to have them in your Roth IRAs, Roth 401(k)s, and IUL cash value. Conversely, you only want about six months' worth of living expenses sitting in your taxable account.     Mentioned in this episode: David's new book, available now for pre-order: The Secret Order of Millionaires David's national bestselling book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track Tax-Free Income for Life: A Step-by-Step Plan for a Secure Retirement by David McKnight DavidMcKnight.com DavidMcKnightBooks.com PowerOfZero.com (free video series) @mcknightandco on Twitter  @davidcmcknight on Instagram David McKnight on YouTube Get David's Tax-free Tool Kit at taxfreetoolkit.com Dave Ramsey Ernst & Young Suze Orman

Chapter OneThere are years that feel ordinary while you are living them. Whispered years. Years that you don't remember once they are over. Maybe, if something did happen in one of those years, you only understand later that something shifted.The Year of the Fire Horse is not a whispering year.In the Chinese zodiac cycle, the Horse is movement, vitality, forward momentum, raw life force. Add Fire to that, and the energy does not stroll. It gallops. It blazes. It exposes. It refuses stagnation. The Fire Horse does not tolerate fences built from fear, complacency, or stagnation. It does not tolerate fences built from anything, actually.Historically, Fire Horse years have been associated with intensity and social change. They stir people from complacency. They amplify what already exists. They accelerate timelines. They reveal where something is alive and where it has decayed.In 1966, the world did not whisper.The Cultural Revolution erupted in China, unleashing ideological purges and youth-driven extremism. At the same time, The Beatles released Revolver, pushing music, consciousness, and culture into unfamiliar territory. Psychedelic experimentation entered mainstream awareness. The Vietnam War escalated. Protest movements strengthened. The space race accelerated. The collective drive to enlightenment and awakening was hijacked into a hyper-individual identity. The “I AM” path became louder than the shared field of true enlightenment.1966 was not a quiet year. And it was Light/Dark.The same intensity that fueled creative breakthroughs also fueled destruction. The same fire that broke artistic barriers also burned institutions to the ground. The energy itself was neutral. The direction it took depended on who held it. And as the holders of power were light/dark, so were the results at a global social scale, dipped in light and dark. The energy from 1966 fueled the light/dark paradigm for decades.The light/dark paradigm drivers know about the Year of the Fire Horse. They know the energy it encompasses, and they know how to use it.Here is the clincher for 2026, however: The light rules.The words “light rules” are not said in a sentimental way. Not in a triumphalist way. But structurally. The field has shifted from light/dark to light-only. What worked in 1966 to derail collective awakening will not function the same way now. At least, it will not function in the same way for those who have chosen LIGHT. For those who choose to stay in light/dark, sure, it functions the same way for them. And it will be fast and furious as it materializes their choice.The Fire Horse runs fast this year.Darkness or hyper-individualism expressed as a personal path of enlightenment will no longer be an option for the rest of us, however.For us, the LIGHT, the Fire Horse opens its eyes, shakes the chains and dusts them off, rears, finds a focus, and runs fast and furious, not caring what falls in its path. And what falls in its path this year is darkness. Inner darkness, outer darkness, all darkness. It will burn. Burn. Burn.The discussion doesn't stop here - listen to the full podcast episode for unfiltered insights from Inelia and our panelists. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.drivingtotherez.com/subscribe

**Thank you for supporting this ministry, we lovingly refer to as "The Little Green Pasture." Click here: PayPal: http://paypal.me/JoanStahl **Please prayerfully consider becoming a ministry partner: Patreon: https://www.patreon.com/joaniestahl **Contact Email: jsfieldnotes@gmail.com **Subscribe to us on Rumble: https://rumble.com/user/JoanieStahlsFieldNotesThere are moments when the Word of God doesn't just speak to us—it illuminates the exact battle we are facing. One quiet morning, while reading Psalm 30:7, the Holy Spirit breathed entirely new life into two simple words: "my mountain." Historically, a mountain in the Bible represents a kingdom or government. But in that moment, the words became like light. I felt an urgent, undeniable prompting from the Lord to lift up a prayer right then and there: "Lord, make my mountain to stand strong!" As I prayed, it felt as though a door opened in heaven. I realized this wasn't just a verse; it was a weapon."Your Mountain" represents exactly what you are standing and fighting for today. It is your family, your calling, your health, or the promises God has spoken over your life. In this message, we are going to look at how King David secured his victory, and how you can too. It's time to own your mountain and consecrate it to Jesus Christ. He has not forgotten your fight. I want to encourage you today to own your mountain and completely consecrate it to Jesus Christ."Let none of us be content to tarry down below in the marshland of the poor poverty-stricken religion of this present day—but let us climb the high mountains where the sun of God's grace is shining brightest—and stand there enjoying communion with Him".- Charles Haddon Spurgeon #Psalm30 #MyMountain #StandStrong #VictoryInChrist #HolySpirit #ChristianEncouragement #FaithOverFear #JesusChrist #SpiritualBreakthrough #JoanieStahlsFieldNotes

Between 1972 and 1997 the Southeastern Conference in basketball grew in stature from just being a premier football conference. During that time of conference growth of both prominence and popularity, the team most emblematic of that growth in national prestige was located in -- of all places-- Baton Rouge Louisiana. And the leader of this team from the sidelines hailed from the hinterlands of North Dakota. In his episode of the Historically Speaking Sports Podcast, Co-hosts Dana Auguster and Charles Combs highlight the era of LSU Tigers basketball under the direction of Head Coach Dale Brown. During his tenure with the Tigers, Brown didn't just coach basketball at LSU, he made it matter in a football crazed state and made it a national brand. He took a program that had flashes of relevance and turned into a powerhouse that would go toe-to-toe with anyone in the country. This was the era of superstars such as Chris Jackson who would later become Mahmoud Abdul-Rauf, whose scoring brilliance electrified the country and garnered comparisons to Pete Maravich. It was also the era of the unstoppable force of Shaquille O'Neal, a once in a generation talent who turned LSU into must see TV. And before them there was Rudy Macklin leading the Tigers to the final four, for the first time since the early 1950s But the Dale Brown era wasn't just about wins and NBA draft picks .It was about personality, passion and conviction. Brown was outspoken, emotional, sometimes controversial -- a coach who wore his heart on his sleeve and fought fiercely for his players. He believed LSU could compete with the blue bloods of college basketball and for stretches from the late 1970s to the mid 1990s ... it absolutely did. To contact the show please e-mail us at Historically.Speaking.Sports@gmail.com

To celebrate International Women's Day, which falls on March 8th, Bababam is replaying Do You Really Know episodes which look at the struggle against inequalities between women and men. All week long, refresh your knowledge about ideas and concepts which promote female empowerment. What is the female gaze? The term “female gaze” has been used in recent years to describe art that subverts the male perspective. The concept is seen as a response to Laura Mulvey's 1975 essay about the so-called “male gaze”. Historically, this has been the dominant way of viewing art forms, with the male creator and male characters catering to male viewers. The rest of the characters often exist mainly to serve the male lead, his interests and his story. As a result, women have often been objectified or ignored, with their characters oversimplified. Why has this happened? Is it about reversing the roles and objectifying men rather than women? What are some examples of female gaze films then? ⁠In under 3 minutes, we answer your questions!⁠ To listen the last episodes, you can click here: ⁠What is white privilege?⁠ ⁠What is CrossFit?⁠ ⁠What is jiko sekinin?⁠ A podcast written and realised by Joseph Chance. First Broadcast: 10/3/2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

Historically, the EU has placed crucial importance on upholding international law. But after the US and Israeli strikes in Iran, the EU is turning a blind eye to the violation of the principles of the UN Charter. Are we witnessing an erosion of this principle within the EU?Production: By Europod, in co-production with the Sphera network.Follow us on:LinkedInInstagram Hosted on Acast. See acast.com/privacy for more information.

For the first time in over a decade, I'm actively chasing status in multiple loyalty programs—and it's a major shift from my usual points strategy.   Historically, status hasn't been a focus for me beyond Hyatt Globalist. But this year, I'm pursuing top-tier or near top-tier status in four programs: Hyatt Globalist, Bilt Platinum, Air France Flying Blue Platinum, and American Airlines Platinum Pro. Listen in as I walk through why these specific statuses suddenly jumped to the top of my priority list, what benefits justify the effort required to earn them, and my exact plan for qualifying for each one.   I also share the four key questions to ask yourself before chasing any status, because the reality is that you don't need status to have a successful award travel experience. From understanding opportunity costs to accessing status benefits through credit cards instead, this episode covers how to evaluate whether pursuing status actually makes sense for your travel style and goals.   Whether you're considering your own status strategy for the year or feeling confident about not chasing status at all, this episode will help you think strategically about how loyalty program status fits into your points plan.   Get full show notes and transcript: https://pointmetofirstclass.com/2026-loyalty-status-strategy    Want to shape the show? Take the Point Me To First Class listener survey and share what you love and want more of!    Eager to learn the secrets of award travel so that you can turn your expenses into unforgettable experiences? Join the Points Made Easy course waitlist here: https://pointmetofirstclass.com/pointsmadeeasy  

A Vision Born from Compassion Fifty-two years ago, educator Bill Moyers looked around his classroom and asked a simple but profound question: where will these students go after graduation? In 1974, opportunities for individuals with disabilities were virtually nonexistent. Rather than accepting this reality, Moyers and his colleagues founded Shen-Paco, an organization that would transform the lives of hundreds of individuals across Shenandoah and Page Counties. Today, Moyers remains the chairman of the board, still passionately committed to the mission he started over half a century ago. His vision has grown from a small workshop on Route 11 in New Market to a comprehensive network serving approximately 100 individuals across two facilities and three group homes. From Workshops to Day Programs The organization has evolved dramatically since its early days. Initially, Shen-Paco operated as a workshop where individuals performed sub-minimum wage work. However, as Ingrid Thompson, the organization's outreach coordinator, explains, the word "workshop" has been removed from their dictionary entirely. This shift represents far more than semantic change—it reflects a fundamental transformation in how society views and serves people with disabilities. Instead of focusing on work, Shen-Paco now operates as a day program where individuals come to enjoy camaraderie with their peers, participate in crafts, and engage with their community. The change, Ingrid emphasizes, isn't a step backward—it's actually progress. The individuals served by Shen-Paco are living their best lives, free from the pressure of productivity metrics and workplace demands. More Than Activities: Building Community On any given day at Shen-Paco's facilities in Quicksburg or Luray, you'll find individuals participating in bingo tournaments, showing off their karaoke skills, or working on craft projects. Visitors regularly stop by to share their talents—from musicians performing concerts to woodworkers demonstrating their craft. The Sheetz organization makes an annual visit with their tanker truck, bringing treats that delight everyone. Yet the most critical component of Shen-Paco's program happens beyond their bright blue building's walls. Every single day, staff members take individuals out into the community. Sometimes it's just a quick trip to 7-Eleven for a drink. Other times, they visit coffee shops, restaurants, or stores throughout the valley. These outings serve a dual purpose that extends far beyond simple recreation. Changing Perceptions, One Interaction at a Time Ingrid passionately believes these community interactions are essential for breaking down decades of stigma. Historically, individuals with disabilities were hidden away in institutions or kept at home, invisible to the general public. Consequently, many people developed unfounded fears and misconceptions about interacting with disabled individuals. "They're just human beings like you or me," Ingrid explains. "They just may need a little bit of help here or there." She recounts a memorable trip to Chick-fil-A in Harrisonburg where a couple not only paid for the group's meals but also gave them a gift card, moved by witnessing Shen-Paco's work firsthand. These moments of connection are precisely what the organization aims to create. Furthermore, Thompson notes that individuals with disabilities are always accompanied by staff members or family, ensuring safe and supported interactions. They're non-judgmental, incredibly complimentary, and often surprisingly knowledgeable about specific subjects that capture their interest. The Brain Works Differently, Not Less One of the most important points Ingrid emphasizes is that individuals with disabilities possess remarkable intelligence—their brains simply work differently. Many excel at mathematics, others play piano beautifully, and some become experts on topics that fascinate them. When given the opportunity, they demonstrate depth of knowledge that often surprises people encountering them for the first time. Moreover, Thompson suggests that everyone has some form of disability. The difference is that most people have learned to adapt, while some individuals need additional support to navigate those challenges. This reframing helps normalize disability as part of the human experience rather than something separate or "other." Beyond Day Programs: A Home Away from Home While many people know Shen-Paco from its day program facilities, the organization also operates three group homes—two in New Market and one in Stanley. These homes house approximately twelve individuals who need residential support. As caregivers age, they often reach a point where they can no longer provide the physical care their loved ones require. Shen-Paco's group homes offer a solution, and the organization is already exploring the purchase of another home to meet growing demand. Ingrid jokes that she wants to live in these homes herself—they're beautifully maintained spaces where residents receive excellent care while maintaining as much independence as possible. The Reality of Funding Despite its vital role in the community, Shen-Paco faces significant financial challenges. The organization operates as a 501(c)(3) nonprofit, and most individuals attend through Medicaid waiver programs funded by their Social Security Disability benefits. While self-pay options exist, the reality is that Shen-Paco relies heavily on grants, fundraising, and community donations to bridge funding gaps. Currently, the organization's most pressing need involves its fleet of twenty-one vehicles. With an average age of twelve years, these vehicles require constant maintenance. A single set of tires costs around $1,000—multiply that by twenty-one vehicles, and the numbers become staggering. Add in brake replacements, oil changes, and general wear and tear, and transportation costs quickly spiral. Meanwhile, obtaining new buses through the grant process takes two to three years. Therefore, Shen-Paco must maintain its aging fleet while waiting for replacements. Shen-Paco has launched a fundraising campaign specifically targeting vehicle maintenance costs, recognizing that transportation is absolutely essential to the community integration that lies at the heart of their mission. How the Community Can Help Ingrid offers several ways community members can support Shen-Paco's work. Financial donations help fund outings—a simple coffee shop visit for five people costs $30, while zoo trips and other excursions require even more resources. Donations can be made through the organization's newly redesigned website at www.shen-paco.org or mailed directly to their Quicksburg facility. Additionally, the organization welcomes invitations from local businesses. Whether it's a coffee roaster showing how beans are ground or a manufacturer demonstrating production processes, these behind-the-scenes experiences provide invaluable learning opportunities. Shen-Paco typically brings small groups of five or six individuals, making visits manageable for host businesses. Mechanics and automotive businesses can also make a tremendous impact by offering discounted or pro bono services for the vehicle fleet. Every oil change, tire rotation, or brake job donated directly supports the mission of community integration. An Open Invitation Ingrid extends a warm invitation to anyone curious about Shen-Paco's work: visit the bright blue building in Quicksburg or the Luray facility anytime. See firsthand how individuals participate in activities, interact with staff, and prepare for community outings. Witness the hugs Ingrid receives each morning from people living their best lives, starting each day with genuine joy and affection. As March's Disability Awareness Month draws attention to these issues, Ingrid hopes the conversation continues long beyond the calendar page turns. Changing perceptions requires ongoing effort, consistent community presence, and countless individual interactions that gradually erode outdated stigmas. Looking Forward After fifty-two years, Shen-Paco continues adapting to meet evolving needs. The transition from workshops to day programs reflects broader societal shifts in understanding disability services. The expansion into group homes addresses aging caregivers' concerns. The emphasis on community integration actively combats isolation and stigma. Through it all, Bill Moyers' original question remains relevant: where will these individuals go? Thanks to Shen-Paco, the answer is everywhere—coffee shops, stores, restaurants, zoos, and countless other places throughout the Shenandoah Valley. They're not hidden away or segregated. Instead, they're living full, engaged lives as valued community members. As Ingrid reminds us, these individuals don't judge. They offer unconditional acceptance, genuine compliments, and pure joy. Perhaps the real question isn't how we can help them, but rather what we can learn from their approach to life. In a world often characterized by criticism and division, their non-judgmental kindness offers a powerful alternative. For more information or to support Shen-Paco's mission, visit www.shen-paco.org or contact Ingrid Thompson at 540-325-7597.

 If you go back and look at the history of how Blacks in America have been limited in their pursuit of the American Dream by way of home ownership, the record is staggering.  Historically there have been racial covenants, redlining, predatory mortgage lending, blockbusting, urban renewal and now we can add a new pernicious tool: property tax foreclosures.  Our guest, Professor Bernadette Atuahene, the author of “Plundered: How Racist Policies Undermine Black Homeownership in America,” describes, chapter and verse, how this practice has been done in Detroit, the focus of the book’s case study.  Yet, this tactic, along with the others listed above, have been commonplace throughout the nation.  You will find in listening to this podcast that our guest is clear-eyed about the many machinations which have grown the wealth disparity in our nation.  The transfer of wealth from one generation to another is a product of home ownership: thus, the vast differentials between races.  She will acquaint you with terms like ‘structural injustice’, ‘predatory governance, ‘ and ‘acts of legal violence.’  Many practices we would all find objectionable in this age are hiding in plain sight.  After listening to this podcast, you will be much better equipped to identify them.  And like the scholar/activist our guest is, perhaps, you can do something in your community to remedy them.

Flush season is here. Protein solids are up. Global milk production is up. So… Where's all the skim milk powder? In this episode of The Milk Check, host Ted Jacoby III and the Jacoby team sits down with Martijn Goedhart and Henk-Jan Bouwman of Cefetra Dairy for a European perspective on the volatility rippling through global dairy markets. We talk through how traders got caught short and why the spring flush might not loosen up the skim milk powder/nonfat dry milk market. Plus, are we pricing U.S. out of the export market? We'll get you up to speed on: Why skim solids are being pulled away from dryers and into protein streams How hand-to-mouth buying turned into a short squeeze What record-high butter stocks in Europe mean for upside potential Tune in to hear how Europe and the U.S. are navigating one of the most volatile stretches in recent memory. L If you're making sourcing or coverage decisions right now, don't miss The Milk Check episode 94: The Dryer's Getting Robbed. Got questions? We'd love to hear them. Submit below, and we might answer it on the show. Ask The Milk Check TMC-Intro-final Ted Jacoby III: [00:00:00] Coming up on The Milk Check. Martijn Goedhart: You have supply growing, and then you think, “Oh, we’re gonna build stocks.” But then, demand caught up. And quite viciously. Ted Jacoby III: Welcome to the Milk Check from T.C. Jacoby and Company, your complete guide to dairy markets, from the milking parlor to the supermarket shelf. I’m Ted Jacoby. Let’s dive in. This week we are excited to have two special guests, Martijnjn Goedhart and Henk-Jan Bouwman from Cefetra Dairy in the Netherlands. We’ve been working closely with these guys for some time and we thought it would be a great idea given all the craziness and dairy markets going on in the United States, to ask them to give us a little bit of perspective on what’s going on in Europe so we can get a feel for how the global markets are affecting our U.S. dairy markets. Martijn, Henk, thanks for joining us today. Martijn Goedhart: Thanks for having us, Ted. Henk-Jan Bouwman: Thank you, Ted. Ted Jacoby III: I feel like what’s going on in nonfat right now more has an origin in the U.S., but I also noticed that you guys started to feel that maybe this market was gonna be a little bit shorter than we expected over in Europe before we realized it in the U.S. [00:01:00] Tell us about the skim milk powder market in Europe and what’s been going on the last month. Martijn Goedhart: In Europe, we’ve been overwhelmed by milk production growth since the second half of 2025, due to bluetongue, late calving, second peak, as some of us call it. And that has resulted in good outputs, and that output needs to go to the commodities. So, we’ve seen butter stocks build up significantly, and everyone assumed that that would mean that the skimmed stocks were also building up because that’s basically the other product you’re gonna produce when you do butter, right? A few things we, I think, overlooked is like the general protein trend in the world and the demand for protein, both on the whey side as well as on the milk side nowadays. So a lot of protein has ended up in other products than your typical skimmed nonfat production bucket. Adding to that, Europe has been the most competitive source in the world market for a long time. Demand wasn’t great because buyers were buying hand-to-mouth because they would basically wait for that carry to come toward them and buy at the lowest price at the last moment. But [00:02:00] now we see that the exports out of Europe have been great. And that’s been keeping the market clean. I think some traders speculated on lower prices and got caught short, basically needed to cover. And that’s where we are at now. And I think more than ever, if you look at NZX (New Zealand Exchange), this all started with a firmer GDT (Global Dairy Trade), with China stocking up a bit. So, if you look at NZX, CME (Chicago Mercantile Exchange) and EEX (European Energy Exchange), those markets are starting to correlate better than they did before because everyone’s looking at the developments of the other exchanges and then draw their conclusions for their own home base. And yeah, that cocktail, together with some U.S. developments that we’re gonna dive into, has caused record-high volatility over the last few weeks. Ted Jacoby III: So, Martijn, you’re telling a story that sounds very familiar ‘ cause that’s exactly what we’ve seen here in the U.S. We’re not making anywhere near as much nonfat dry milk as we expected because the protein demand is forcing those skim solids into other places. What are those other places in Europe? Where is that protein being used and what is it being made into in Europe right now? Martijn Goedhart: I think there’s two main [00:03:00] streams. Bear in mind that the milk pressure in Europe was so high that you need to burn milk, and the way to do that is to produce casein. So, I think casein production has increased by like double-digit numbers, that’s not because it was such a nice valorization, you can just dry more milk per hour. And considering the liquid markets over the last few months, during our low season, liquid milk was trading way below the commodity equivalent, proving that there’s a surplus of liquid milk that can’t be processed by drying it or churning it. So, that’s one part. The other part is, it’s the same in the U.S. We’ve been around here for a few days now, but in Europe, you see the same: everything is protein fortified, extra protein, in basically everything you can buy. So, a lot of protein that is processed in line before it even reaches the other class. So, like the dryers basically. Ted Jacoby III: Martijn and Henk, do you guys think that the skim milk powder market in Europe has tightened up primarily because everybody who was living hand-to-mouth saw the market started going up, and they decided they wanted to buy more now because they wanted to get the product at a lower price before the price [00:04:00] went higher, and then they just started chasing the market? Or do you think demand has shifted and there’s a true increase in the demand for the product? Henk-Jan Bouwman: There’s two things to touch upon here, Ted. One is, you’re absolutely right: people were buying hand-to-mouth, and they were actually rewarded for doing that because everybody believed that the price of tomorrow was better than the price of today. And for a fairly long period of time, they got rewarded for that. That also led to traders being short, as Martijn touched upon. From a demand perspective, yes, there’s actually quite some demand, and people also realize that they have to turn to Europe to find their cheapest skim. That also creates a bit of a demand pull towards European skim, which makes the price go up. And we’ve seen that, in particular, in low heat in comparison to medium heat. But in general, export markets for us are pretty strong, and, I would say, pretty much all the demand ends in European skim milk powder of origins. Josh White: Is anybody extending days in inventory? Do we think that there’s a short squeeze driving international clients to buy a couple extra weeks, a month, more than that of product? The nature of your question, Ted, [00:05:00] is what’s caused us to tighten up on that product? Is it truly demand for nonfat dry milk, or is it just reduced production overall? And I think maybe it’s both in a way. On the one hand, Martijn mentioned that the catalyst of this was actually a GDT event where China stepped in and bought more. And I think that we’ve been talking about the disappearance of China as a structural buyer of milk powder for quite some time. But their stocks to use ratio has been reported to be fairly low, and maybe they felt it was time to extend some days of inventory. At the same time, you evidenced what’s happening in the U.S., And Martijn alluded to it a little bit in Europe as well, that the pull for dairy protein in general is actually vacuuming some solids away from the dryer, and particularly the SMP or the nonfat dryer. So, is it both? Are we seeing people look to build a little bit more safety stock at the same time that our production is down a bit because protein demand overall is robbing our supply. Henk-Jan Bouwman: There’s a, there’s a couple of things to touch upon, Josh. One is in this whole upward movement, there were quite some international buyers [00:06:00] who still had demand open, for instance, for Q2 and Q3, and decided to step in and said, “Hey, this is a moment to buy, to cover that demand, because I am anticipating an upward movement.” So, in that sense, I’m completely with you. Producers did the same, as well. For them it was also attractive to lock some forward sales. And that has led to lesser availability of skim in EU. And that basically also caused the rally to continue. Martijn Goedhart: I think the difference with the U.S., as I understand it, is we have never not been able to buy product during this whole volatility. So, producers were always offering, customers would like step in, step out. If they really need it, they would book. They were also cautious. And we went up, then we went down, then we went up again. But in that down movement, customers were like, “Yeah, you see, so it’ll come off again.” So, that didn’t prompt them to build any length. I think producers did fairly well in putting a fundament below their sales book for the flush that’s upcoming. Traders are holding a fair bit of cash product right now for the next three, four months. It’s not tight as [00:07:00] such, but you see that certain buyers need certain origins that are scarce. So, it’s very much about the origin, the spec, and the product that you have, whether you can monetize on those higher prices. Ted Jacoby III: It seems to me, just listening to you guys talk about Europe, that the U.S. and Europe are both experiencing a very similar phenomenon in our supply chain. Demand for protein is pulling skim solids away from the dryer, first and foremost, which means on a skim milk powder / nonfat dry milk supply-demand balance, you’re reducing the supply even though we are both experiencing pretty significant increases in milk production. The traditional math is: more milk means more skim milk powder. It didn’t happen this time around, and it caught people by surprise. The demand for protein in Europe, just like in the U.S., is exceptional right now. But then that makes me ask the question: if we have less skim solids, in the form of skim milk powder and nonfat, in the global supply chain, is this increase in price directly proportional [00:08:00] to reduced supply, so we got more people buying because they want to get in the front of it. So, you got this bubble. But you also have had this slow decrease in overall skim milk powder demand going on. Like a slow creep every year. I’m not sure if it’s about 1%, but we’ve all kind of felt it that the global demand for skim milk powder has been just slowly weakening, but this sudden supply crunch was a bigger issue than the slow decrease in demand, and it caused this price bubble that’s just gonna take some time to work itself out. And if the protein continues to take the skim solids away from the dryers, it may be a really long time before it works itself out. Martijn Goedhart: Q4 of global SMP export has been very strong, but Q3 and Q2 were relatively weak. I’d have to look at how the balance looks at the end of the year. Also, the export figures have been more volatile than Ted Jacoby III: Yeah. Martijn Goedhart: Before. So, I think everyone thought like, “Okay, demand is sluggish. We have so much milk in the U.S. We have so much milk in Europe. [00:09:00] New Zealand’s season is looking good.” So, in your mind, you extrapolate that demand. Then, you have supply growing, and then you think, “Oh, we’re gonna build stocks.” But then, demand caught up. And quite viciously. So, that’s the thing I think people underestimated. We’re in a situation where we don’t see any old stocks or inventories building up. Josh White: So I wanna throw three thoughts out. On the first hand, we know our global milk supply is year over year up significantly. Martijn Goedhart: Yeah. Josh White: On a solids basis, protein and fat are up significantly. We’re talking about the overflow valve, the powder stocks not being very robust, and that on the end-user level, globally, people didn’t have a lot of additional days of inventory. So, that would suggest on one hand, maybe we need all this milk. Maybe we need it. Demand for protein and other products is up enough that we need all this milk. But then on the other hand, I think there’s probably two things that we need to be careful that we don’t overreact to. There’s seasonality in our products. We know that the northern hemisphere heavy milk production season is upon us. We’ve [00:10:00] started in California. We’re gonna continue to see our daily milk volumes increase seasonally in the U.S. as we get into the second quarter. Another thing that I’m wondering being, you guys with more international trade experience coming out of Europe is: buying seasonality. So, Ramadan every year moves up a little bit; Chinese New Year, there’s usually a surge leading up to it. And it’s gotten to the point where that was almost a collision with the traditional holiday season of December. Is it possible that we just robbed demand from the first quarter, and everyone tried to get in front of some of that demand in the late third and early fourth quarter, and that we’re about to go into a unique seasonal period where customers have now gotten scared. They’ve extended a few days in inventory, the structural demand won’t be there at the same time that the northern hemisphere flush is upon us. I mean, is it possible that we were just short squeezed based on seasonal issues in the first quarter, and we’re gonna resolve that with plenty of product in the second quarter? One final note I think that we [00:11:00] shouldn’t forget is that our year over year comparables are against a disease-infested 2024. We had bird flu in the U.S.; we had bluetongue to in Europe. How much are we actually over 2023 going into 2024. Ted Jacoby III: On 2023 versus 2024, I think Europe, you guys were down like a half a percent to 1% in 24. Does that sound about right? Martijn Goedhart: 23, 24 was pretty much flat. Ted Jacoby III: Mm-hmm. Martijn Goedhart: And 24, 25 we added like a hundred thousand metric tons. So, like, 6%, 7%. 24, 25. Ted Jacoby III: So you guys had a couple of flat years, followed by a year where you added quite a bit. Martijn Goedhart: Yeah. Ted Jacoby III: Which actually is pretty similar to what happened in the U.S. Yes. We had some disease like avian flu , and bird flu hit California ,and we were down in some places and up in others, but overall we were flat. But the solids were up a little bit. Martijn Goedhart: Yeah. Yeah. Ted Jacoby III: While dairy prices were decent, I didn’t feel like we were facing a massive supply scarcity in those two flat years, which is one of the [00:12:00] things that has me very perplexed about what’s going on now. Because it’s one thing to say, Hey, there’s all this new demand for protein. All the skim solids are going to protein, and that’s why there isn’t any skim milk powder in nonfat. Okay, let me phrase this a different way. That means that we are suddenly being faced with massive increases in demand for protein. The price of protein today is a lot higher than it was a year and a half ago when we were dealing with flat supply.  So, why is protein demand so much higher now compared to a year ago? Is it completely and solely demand driven? As amateur economists , like all traders are, that math doesn’t seem right. Martijn Goedhart: Last year, we had significant competition among our export customers from Iran and Belarus, in terms of SMP. The Iran exports were surging. I think it was like 150,000 tons of skim, something like that, that suddenly shows up. Europe is doing about 700. So, that has an impact when you’re talking to [00:13:00] buyers. But that disappeared just as quickly as it appeared. Which yeah, that 150,000 tons, or whatever it was, it will turn back to the next cheapest origin, which was Europe. So, demand didn’t grow, but shifted towards another origin being EU. Henk-Jan Bouwman: Yeah, I think in general, overall competitiveness of EU skim milk powder is a lot better than last year, even in comparison to a bigger skim producing regions. As Martijnn touched upon, being based in the Middle East, I saw a lot of competition coming out of origins, which were a bit more nontraditional. Iran was one of them. What happened is their overall competitiveness finished really, really quickly due to a couple of things. One of them being disease. So, they had foot-and-mouth disease in Iran. Two, their overall ability to import a sufficient amount of feed, and three, their competitiveness due to a currency standpoint, which quickly changed. That, indeed, meant that the material that was supplied by Iran is now being supplied by Europe. Diego Carvallo: It’s a fascinating situation. Some of those [00:14:00] solids that are going into MPCs are definitely reducing the demand for skim, unless it’s coming from a different end-user application. If we’re seeing the MPCs going into sports nutrition, it’s definitely new demand that is finding a new end-user. It’s a combination of a lot of the things that we have discussed in this call: the whole market being short and getting super used to being hand-to-mouth for years, where you could buy product cheaper a month from now, so, why would you buy it? Especially if you have high interest rates, right? So, that’s part of it. The other factor is definitely the whole market was shocked by the impact of the UF pull of the additional MPC production and the amount of solids that we’re not going into a dryer that everybody expected would go right. Also a few additional manufacturing productions, a few key plants in the U.S., this is starting to look like more of a fundamental shift than a short squeeze. [00:15:00] And three weeks ago, everybody was saying, “Yeah, short squeeze, it’s an amazing short squeeze. It’s gonna come down.” Right? And now that same rhetoric has been changing to, “Actually, this is not that much of a short squeeze, but it is more of a there are not that many solids.” There’s a new big plant in Texas. There’s a new big plant in New York. There’s a lot of solids that are being pulled, and nobody was taking that into account. Everybody was expecting after the bird flu in California, we’re simply gonna go back to producing the same amount of nonfat that we were producing two years ago. And if you look at the data, it’s not correct, you know, Josh White: We also gotta give credit to substitution and other things. And what I mean by that is like calf milk replacer industry in the U.S. Historically, we’ll toggle for the cheapest protein between whey and milk powders. For sure, we’re seeing that appetite pick up for nonfat dry milk right now. Whereas two years ago there was a lot of WPC 34 on the market. All of that’s gone [00:16:00] because of the whey movement. I think the utilization is shifting quite a bit. We’ve talked about where it’s more difficult to track where milk solids are being consumed into a lot of protein enhanced beverages and things along those lines. That’s becoming more difficult. We’re saying demand’s not great globally, but if you pick up feed demand because they can’t buy the whey products they bought before, that is more demand for milk powder. And by far the cheapest dairy protein right now is nonfat dry milk. The big question I have is seasonally in the second quarter, are we going to catch up? Are we gonna be able to catch up globally or not? I think the whole market’s really struggling to try to form an opinion on that. Mostly because we can’t really measure and put a finger on just how much new protein-related demand there is in that difficult to measure space that I alluded to earlier. Diego Carvallo: Particularly in the U.S. right? In Europe doesn’t seem like that situation is as strong as it is the U.S. It seems like in the U.S., you have all of these new [00:17:00] cheese plants and UF plants, Class I plants, et cetera. It seems like, at least in the U.S. that inventory building is gonna be more difficult than in other regions. Josh White: And the European dryers are full right now, correct? Martijn Goedhart: Yes. Josh White: And the California dryers are full right now. Midwest dryers are nowhere near full. The answer to that might be a little bit easier than we’re making this discussion. We’ve added a whole lot of cheese capacity. There’s plenty of milk, but a lot of it’s being processed into cheese. Ted Jacoby III: Are there many new dairy plants of any kind in Europe right now? Martijn Goedhart: Not coming online this flush as far as I know. Not surprisingly, but most of the investment obviously is in WPC and WPI, I think Friesland has a big plant coming up, but it’s 2027, am I right, Henk-Jan? Henk-Jan Bouwman: Their latest expansion is 27. Yes. Ted Jacoby III: So we’re not really seeing any milk solids going to new places in Europe. It’s all still within the traditional milk sheds going to the usual suspects. Martijn Goedhart: Yeah. Yeah. Ted Jacoby III: Okay. Let’s switch topics to butter. The [00:18:00] U.S., a year ago, a year and a half ago, we were around $3 butter. It came down into the 2s, $2.50ish, and then the bottom dropped out, and it went all the way down to, I think, $1.28 at one point in the U.S. Now it’s back up in the $1.70s. But Europe dropped even more from an even higher precipice. Where have we been over the last year and where’s the butter market now in Europe, and what’s it doing? Martijn Goedhart: Yeah, well, butter was the main driver of the volatility that we see right now because €7 butter prices, the fed and the milk would already pay an above break-even price to farmers. And then your skim return is just bonus, right? Friesland just released their yearly report and they’ve been paying like, I think 56¢ on average, which is, well it’s a bit debatable, but I would say at least 16¢ above break-even. And then they get even a bit more profit share. That has like sparked that extra milk output, because every liter you produce is making you money as a farmer. You wanna get your components up, you wanna squeeze the maximum out of the milk. That’s how we ended up in this situation and the vicious correction at the other end of it that [00:19:00] we’ve seen. We’ve seen inventories build up and anecdotally we’ll also hear that all the chilled storage is full. That’s still the case. Those stocks haven’t disappeared. And also we’ve imported quite a bit when the spread with the U.S. and before New Zealand was significant enough to do so. That product is arriving now. And that adds to the supply pressure. However, that market has been stable for the last few months. I would say it’s been volatile, but we’re at the same levels than one and a half, two months ago. So that also shows that price correction ultimately also triggers extra demand. It’s an elastic product, especially on the consumer side. However, it’s also capped in terms of upside because those stocks are there. The liquid equivalent, cream, if you would buy cream today, you’d make it into butter. You’d be like at €3.30–€3. 40 cost price where the market is trading at €4.20–€4.30. So, there’s like a thousand euro. Ted Jacoby III: So the multiples in cream are low. Martijn Goedhart: It has been like this during our whole down season, which is very atypical. You could [00:20:00] argue that that multiple is only gonna weaken because milk starts flowing. Ted Jacoby III: Mm-hmm. Martijn Goedhart: The main discussion we have is like, is all that bearishness already priced in? And have we hit the bottom? Have we hit a level at which people are happy to buy? Or is there more to come? Ted Jacoby III: So you guys aren’t really seeing much upward-ness in the butter market in Europe right now? Martijn Goedhart: No. No. If you look from a, let’s say, traditional supply and demand theory, we have record-high stocks and record-high stocks, they basically kill any prolonged upside to a market, I would say, until you work through it. Ted Jacoby III: What about the cheese market in Europe? Is the cheese market high or low right now? And how’s it acting? Martijn Goedhart: It’s surprisingly tight. You would think that especially over the past few years, quite some capacity has been added to the European landscape. You would reckon that this extra milk would flow into the cheese plants, and you can’t find demand for it, so you’d have to move your cheese, and you’d see supply pressure from producers. But, the opposite is true actually. The cheese that’s supplied is very fresh. Within the range of what you can supply, it’s on the fresher side. That [00:21:00] indicates that there are no older stocks or backlog in terms of supply. I think producers have done a good job in capturing those moments when they were competitive on the world market by getting to make cheese disappear out of Europe. And then the last few weeks there were some production disruptions, some factory outages, and that even caused a bit more tightness in the cheese market. But it has stabilized ever since. It has been stable like butter. We’ve seen the bottom for now, and it went up a bit. The only thing is that in cheese there are no inventories. That makes you think that there’s more upside in cheese when milk growth starts to slow compared to butter because there’s no inventory holding it back. Ted Jacoby III: Why isn’t there any inventory? Was Europe doing some really good exporting for a while? Martijn Goedhart: Yeah, that’s the main reason. Big producers did big sales of gouda at some point or mozz when they were competitive, just to keep that supply chain clean. Butter, you can freeze, carry if the market pays for it. Ted Jacoby III: Mm-hmm. Martijn Goedhart: Cheese, you can only do it on paper, but not in reality. You need to get rid of it. Ted Jacoby III: Right. Josh White: How far out do we think the [00:22:00] international cheese buyer is covered right now? Because that was a big topic coming into the first quarter is how much of the cheese business, particularly in contestable markets, did Europe win away from the U.S. Ted correct me if I’m wrong, but our exports have been fine, haven’t they? Ted Jacoby III: Our exports have been fine. That’s actually a good way to put it. We experienced a real nice pop in exports last year. I would say this year, second half of Q4 into Q1, we’ve experienced exports that were relatively similar to last year. Maybe a hair behind. And I think we’ll start seeing those numbers soon, but I wouldn’t be surprised that when we finally see January export numbers, we’re down like 5% versus last year, when last year was a really, really, really good number. I’d almost say down 5% is unexpectedly good relative to how good it was last year. Martijn Goedhart: Josh, coming back to your coverage question, I think both our markets have seen massive carries right over the last few months. So, that’s not a very interesting structure for buyers to cover long. Our market was [00:23:00] trading like spot plus two months maximum. And producers would only make big sales if they have the product already, if they feel it already a little. So, I would suggest that cheese buyers in Europe, as well as around the world, are relatively shortly covered, just the same as with nonfat. Henk-Jan Bouwman: Yeah, I see the same in my export markets where basically all the inquiries we are getting for cheese, are relatively close to home, so maybe one maximum two months out from a shipment perspective. Ted Jacoby III: Mm-hmm. Josh White: So, Ted, are you interpreting this though, that the pressure’s gonna be on more so in the U.S. to win that business going into the second quarter? Based on what you just heard from our European friends? How are you digesting this discussion? Ted Jacoby III: That’s a great question. I would say yes, but price action makes me wonder if the U.S. is trying to price itself out of this market. Martijn Goedhart: Take cheddar for example. EU is about $300 per ton elevated over U.S. So, in certain applications, such as process cheese, I think, by default the U.S., will win that export business. Ted Jacoby III: Even [00:24:00] at current futures prices for April and May of a $1.80? Martijn Goedhart: Little bit of a different story. But that also depends on the outcome of European flush and the effect of that flush on cheddar pricing in Europe. Ted Jacoby III: I would agree with you that about three weeks ago, we were cheaper, but after this rally, I don’t know if that’s still true. Josh White: The point Ted’s driving home right now is the big carry in the Class III cheese markets in the U.S., you’re concern is pricing out the second quarter? Ted Jacoby III: That’s exactly right. I’m concerned we’re in the middle of pricing ourselves out of the market. Josh White: Are we putting ourselves in a spot where we’re the best priced cheese product. We know, out of the U.S., our daily milk volumes are gonna increase. We know that a lot of that milk’s gonna go into cheese. We know that we’re gonna have to compete for cheese business. But even despite the fact that Europe’s relatively balanced, it feels like on cheese, are we putting ourselves in the global market in a position where Europe may win? Martijn Goedhart: It’s gonna be a good fight, Josh.  None of the origins can afford to lose a lot of export business over the flush. We need to get those volumes [00:25:00] moving. So, the products where we compete, we will compete. Ted Jacoby III: Mm-hmm. And here’s what’s likely to happen. The U.S. having a little bit more mature and developed futures market means that as Europe goes out there and makes sure they get that business, the U.S. at some point will say, rather than going and exporting this cheese, I’m just gonna put it in a warehouse and hedge it out on the futures because there’s a carry in the futures market right now and I can make 10¢ just sitting on it for a month or two. If we are gonna have to go head to head with Europe, to get that export business, we might not get as much as we did last year in the second quarter, because in the second quarter we really did get a lot of that cheese export business. Martijn Goedhart: I agree. Only, to what extent can you actually carry it, physically, without refreshing, Ted? Because in Europe, that’s a bit of an issue. Ted Jacoby III: In the U.S., there’s a number of strategies, a lot of it being rolling your inventory. So, you take your working inventory and you just start rolling it because I don’t think there’s a huge difference between 30-day-old cheddar and 90-day-old cheddar to a lot of people. There are strategies to [00:26:00] manage through higher inventory levels. But at a certain point, even that working inventory carry, it starts to max out the warehouse, start to get full, and then they just gotta sell it. Martijn Goedhart: Right. Ted Jacoby III: What’s interesting is, I think that a lot of people went into 2026 thinking, “We’ve gotta make sure we’ve got a home for this cheese, because there’s a lot more cheese, and the U.S. market demand is not that great. It’s very flat. And so, if we’re gonna make 4% or 5% more cheese, we’re just gonna have to export it.” Martijn Goedhart: Yeah. Ted Jacoby III: And so, they weren’t even looking at that equation. But I think what’s happened in the last month with this volatility in the market, it’s gonna have the inverse effect of getting everybody to actually sit on that cheese and keep it at home, and you’d think it would be the opposite, but no, I think we’re gonna end up bringing more cheese home and letting you win some of those battles. Josh White: Ted, can we talk a minute about the milk production outlook in both regions and how that’s shifted a bit over the past month or two? I’ll start within the U.S. We generally believe that the margins have not been squeezed to a point where we’re gonna see a massive [00:27:00] supply response, a negative supply response in the U.S. for the foreseeable future. Ted Jacoby III: And the bounce off The bottom, if anything, we may be back into a place where we’re encouraging more production. Josh White: We’ve got some big comparables. There’s maybe some vulnerabilities in the market. We’ve obviously been surprised with disease and other things in the past, so it’s not imminent, of course, but the math says we should expect to continue to have a good amount of milk out of the U.S. going forward. How does that look out of Europe presently? Martijn Goedhart: I would say almost copy paste Josh. Skimmed has bounced back. Butter has stabilized. Cheese has stabilized up to a point where if I look at the valorization of gouda at €3,300/MT you’re well above the 40¢/kg mark, which is basically the pain point for European farmers. And then I’m taking into account sweet whey. Not even WPC, right? So, if you have your WPC return, that’ll add another few cents at least. So yeah, we didn’t go deep enough to encourage any decline in milk production. The big question is how that’s gonna turn out this year: if we see the same curve or more [00:28:00] corrected to normal seasonality. But from a margin perspective, I think, just like Ted said, we bounced off the bottom, and it didn’t hurt enough or long enough for anything structural to change in 2026. Josh White: Hey, Martijn, would you add a little bit of color to what you just mentioned a moment ago? The two flush situation coming from the bluetongue outbreak and issue. Martijn Goedhart: In early 2025 in Europe, there were cases of bluetongue and that spread quite quickly across Western Europe. Spring started, early temperatures went up, and mosquitoes that spread the virus sting cows and then they get infected. It has an effect on calving. A lot of calves are not born in the right way, and also the cows, the output goes down, and it’s harder to get them pregnant. So, some cows, they first have to get over the bluetongue disease before they would start to calve. Some cows would calve late and that means that the milk also starts flowing late. Where you’d typically see a peak, in March, April, and then in eastern Europe, it’s a bit later, but now you’ve seen a similar peak because margins were good, but a longer [00:29:00] plateau at that level as well. Those cows get dried off later as well. So, are they gonna calve later again or is it like maybe some like refreshing of cows in the system, and the new ones will be set up according to the normal season? It’s a big question mark. We don’t know. Even the co-ops are struggling with that. Ted Jacoby III: So, you could have a flush that does not hit the peak it usually does, but it’s just longer. Martijn Goedhart: Yeah. If it’s the same as last year, that’s what’s gonna happen. If we somehow move back to a normal seasonal pattern, then you’ll see a higher peak than last year, but a bigger decline in the second half of the year. Josh White: If we’re talking about demand being okay and large amounts of milk in both Europe and the U.S. likely to continue, is there anywhere in the world that is suffering on their milk production? Do any of us have an idea of what’s going on with milk production in China? Martijn Goedhart: I think margins there are low. It’s been flat until now, the output, but it’s hard to get consistent numbers from China. But margins are still very low. So, that would not incentivize [00:30:00] growth. Ted Jacoby III: Milk production in China popped over a two year period, about five, six years ago. Then held steady for a couple of years, then it pulled back. Now, after that pullback, it’s flatlining again. Josh White: What we’re basically concluding from this is that we’re gonna have a lot of milk still, but, with the exception of some risk maybe on the cheese side and maybe in the butter situation in Europe, the rest of the products don’t seem to have concerning inventory levels as of right now. Ted Jacoby III: I would agree. I think there’s enough supply, but there seems to be surprisingly good demand, especially for protein. All right guys, we’re wrapping up here. Lightning round question. Do you think what’s happening in the nonfat market is a result of increased demand or less supply? Josh, you go first. Josh White: I wanna say both. We’re experiencing more demand across the entire curve that is both pulling more nonfat supply and is also pulling away skim solids from the dryer. Ted Jacoby III: Martijn? Martijn Goedhart: I agree with Josh. Some of it is fundamental SMD but a big part of it is demand waiting too long and needing to deliver. Ted Jacoby III: Henk? Henk-Jan Bouwman: yeah, I’m with you [00:31:00] guys. Ted Jacoby III: I do not want a chicken out like you and say both, so I’m trying to decide which one. I think it’s very subtle, but this is actually demand driven more than supply driven. Martijn Goedhart: Yeah. Ted Jacoby III: Yeah. All right guys. Thanks for joining us again. We really appreciate all the time that you guys spent tuning in and listening to us.  Keep milking those cows, and we’ll keep showing up and telling you what we’re seeing out there. Ted Jacoby III: We’ll be back in two weeks for a market update with the Jacoby team. Looking forward to seeing you then. All right guys. Hey, Martijn. Henk, thank you so much for joining us today. Really appreciate the conversation. Martijn Goedhart: Thanks guys. Huge pleasure. Henk-Jan Bouwman: Thank you very much. Martijn Goedhart: Cheers.

Technical Levels and Market Support From a technical standpoint, the market has shown notable resilience despite geopolitical tension. The S&P 500 is currently trading around 6,845, holding up well in the wake of weekend developments. While volatility may persist, it is important to evaluate where meaningful support levels lie. The first key support range sits between approximately 6,522 and 6,630, roughly a 3–5% decline from current levels. This area corresponds closely with the 200-day moving average, a widely followed long-term technical indicator. Further support exists near the 6,150 to 6,200 range. This level represents last year's breakout zone and would equate to a more typical 10% market correction. Corrections of this magnitude are historically normal within broader uptrends. Importantly, the market remains in an established uptrend. Identifying these “lines in the sand” does not imply that a significant decline is imminent. Rather, it provides a structured framework for evaluating risk should volatility increase. A Healthier, Broader Market Beyond technical levels, underlying market strength offers encouraging signs. One of the most constructive developments in recent months has been the broadening of market participation. In prior years, performance in the S&P 500 was largely concentrated in a small group of mega-cap stocks, often referred to as the “Magnificent Eight.” A healthy bull market, however, is characterized by broader participation across sectors and market capitalizations. Since October of last year, performance has expanded beyond the largest names. Mid-cap and smaller companies have demonstrated improved strength, while many of the previously dominant mega-cap stocks have underperformed relative to the broader index. This rotation signals improving market breadth and positive structural development. Broader participation creates a more stable foundation for equity markets, particularly during periods of geopolitical uncertainty. As the second quarter of the midterm election year unfolds, a period that has historically experienced weakness, the strengthening internal dynamics of the market provide a constructive backdrop. Oil, Inflation, and the “First Casualty” There is a longstanding saying that the first casualty of any conflict is the truth. Early reports during geopolitical crises are often incomplete or inaccurate. Reacting emotionally to initial headlines can lead investors astray. Instead, the focus should remain on measurable data, particularly price action across key markets. In the current environment, oil prices serve as a primary barometer. Historically, Middle East conflicts have had direct implications for crude oil supply and pricing. A review of West Texas Intermediate (WTI) crude over the past five years illustrates this clearly. During the 2022 conflict in Ukraine, oil prices surged above $120 per barrel and remained elevated above $100 for an extended period. Today's price movement is far more muted. WTI crude has risen to just above $72 per barrel, up from recent lows near $50, but significantly below the extremes seen in prior conflicts. This comparatively restrained reaction suggests markets are not yet pricing in a severe supply disruption. Statements from OPEC members signaling potential production increases may also be helping temper price spikes. Oil matters not only at the gas pump, but more critically through its influence on inflation. Elevated energy prices can make inflation “stickier,” complicating the Federal Reserve's efforts to lower interest rates. As inflation persists, interest rates may remain higher for longer. The 10-year U.S. Treasury yield remains another key indicator. In recent years, yields moving above approximately 4.5% have coincided with equity market weakness. As long as rates remain within the low-4% to 4.5% range, the broader market environment has tended to remain constructive. The interplay between oil, inflation, interest rates, and equity valuations ultimately determines portfolio outcomes. At present, inflation and rates remain within manageable ranges, and the broader market structure, both technically and fundamentally, remains intact. That does not eliminate risk, but it does suggest there is no immediate evidence that the prevailing uptrend has reversed. Disciplined investors avoid knee-jerk reactions. Instead, they monitor price signals, assess incoming data, and make measured adjustments only when warranted. Greg Powell, CIMA® President and CEO Wealth Consultant Email Greg Powell here Bobby Norman, CFP®, AIF®, CEPA® Managing Director Wealth Consultant Email Bobby Norman here Trey Booth, CFA®, AIF® Chief Investment Officer Wealth Consultant Email Trey Booth here Ty Miller, AIF® Vice President Wealth Consultant Email Ty Miller here Fi Plan Partners is an independent investment firm in Birmingham, AL, with a team of professionals serving clients across the nation through financial planning, wealth management and business consulting. The team at Fi Plan Partners creates strategies in the best interest of their clients using fee based investing. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Economic forecasts set forth in this presentation may not develop as predicted. No strategy can ensure success or protect against a loss. Stock investing involves risk including potential loss of principal. Securities and advisory services offered through LPL Financial, Member FINRA/SIPC and a registered investment advisor.The post “The Truth is the First Casualty.” first appeared on Fi Plan Partners.

For years, we've talked about the world order 'shifting.' Changing. The end of the Bretton Woods agreement, But according to legendary investor Ray Dalio, the shift is over. The break is now here.In a massive new piece Dalio just released—following the 2026 Munich Security Conference—he made it official: **The post-1945 world order has broken down.** We have officially entered what he calls "Stage 6' of the Big Cycle."Historically, Stage 6 is the 'War Stage.' It's the period of 'Great Disorder' where rules are replaced by raw power, where debt cycles reach their breaking point, and where the global map is redrawn. We're seeing it in the 'Capital Wars,' the weaponization of the dollar, and the total breakdown of trust in traditional institutions.

Arthur Herman contrasts the Scottish Enlightenment's focus on liberty with the French "general will," arguing that collectivism historically descends into state violence and tyranny. 3.1900 MEXICO

Today we are talking about a policy idea that keeps resurfacing around the world, taxing unrealized gains.If you have ever underwritten a deal, you already know the difference between a gain on paper and cash in the bank. Unrealized gains are accounting gains. They exist because an asset is worth more today than it was yesterday, at least according to some valuation method. But until you sell the asset, refinance it, or otherwise monetize it, that gain is not cash flow. It is potential.In the Netherlands, there is proposed legislation that would tax unrealized capital gains. It is being discussed under the umbrella of reforming “Box 3,” the part of the Dutch personal income tax system that applies to savings and investments. The Dutch lower house adopted a bill on February 12, 2026, often referred to as the Box 3 Actual Return Act, with an intended effective date of January 1, 2028, although the Finance Minister has already indicated amendments may be needed and that Senate approval is uncertain. So why is the Netherlands going down this road? Because their current system has been under pressure for years.Historically, Box 3 taxed investors based on a deemed return, a fictitious assumed rate of return, rather than what someone actually earned. When interest rates were near zero, people with cash savings were taxed as if they were earning healthy investment returns. Courts rejected that approach, and the government has been trying to craft a replacement. In response, a bill was advanced to move from deemed returns to “actual return.” The catch is in how “actual return” is defined.  Under the bill the system would tax actual annual returns at a flat rate, and that includes value increases that have not been realized through sale, in other words, unrealized gains. -------------**Real Estate Espresso Podcast:** Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)   Website: [www.victorjm.com](http://www.victorjm.com)   LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)   YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)   Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)   Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)  **Y Street Capital:** Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)   Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)   Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)  

Seth and Sean discuss everyone hoping that Jeremiyah Love doesn't end up with the Chiefs, Rueben Bain Jr.'s historically short arms being a story, and how Nick Caserio says he would change one Combine drill if he could.

Episode OverviewDrew Price of Master Class Angling returns to The Articulate Fly fly fishing podcast to deliver a season debrief from Lake Champlain and discuss the release of his debut book, Favorite Flies for Vermont: 50 Essential Patterns from Local Experts (Stackpole Books). For anglers curious about multi-species fly fishing in the Northeast or the fly patterns that actually produce on Vermont's diverse waters, this episode covers both with depth and specificity.The 2025 season on Champlain was defined by record-low water levels — a rarity that revealed structure Drew had never seen and produced drone footage that will inform future guiding. Bowfin fishing was among the best he's seen in years, and November lake trout fishing exceeded expectations, reflecting growing demand for Laker guide trips. Drew brings that same multi-species perspective to the book, which covers 53 patterns ranging from pragmatic brook trout dries and blue-line streamer patterns to bowfin, gar and bass flies — including Drew's own glow-in-the-dark Clouser Minnow variation for lake trout and Chocklett-influenced bowfin patterns he's adapted for Champlain conditions. The conversation also covers the production process in candid detail: Drew's self-directed macro fly photography, his phone-interview approach to wrangling 50-plus tiers across Vermont and the editorial relationship with Jay Nichols at Stackpole. The historical dimension is a highlight — patterns like the Governor Aiken Bucktail, the Spirit of Pittsford Mills and a tribute to the late Rhey Plumley place Vermont's fly fishing culture in a lineage that goes back to Mary Orvis Marbury's early commercial tying work in Manchester.Key TakeawaysHow a record-low water year on Lake Champlain exposed bottom structure and shifted Drew's understanding of fish-holding spots in ways that will pay off for seasons to come.Why Vermont fly tiers skew pragmatic — tying quickly and in volume over aesthetics — and why beat-up flies often outfish perfect ones.How to properly attribute pattern variations to their originators, and why that intellectual honesty matters for the sport's tying culture.When to expect outstanding lake trout fishing on Lake Champlain, with November emerging as a peak window for fly rod Lakers.Why Lake Champlain's combination of world-class bass fishing, exceptional bowfin populations (including multiple IGFA tippet-class records) and 88 resident species makes it an underappreciated destination for fly anglers.How Tom Rosenbauer's CDC Rabbit's Foot Emerger became a standout pattern in the book, and what the story behind its development reveals about matching emerger behavior in the surface film.Techniques & Gear CoveredThe episode touches on a range of techniques tied to Champlain's multi-species fishery rather than a single tactical deep dive. Sight fishing in the shallows — push-pole work targeting bowfin, gar and carp — is central to Drew's guiding approach, and several flies in the book were designed specifically for those conditions. For lake trout, Drew discusses his glow-in-the-dark Clouser Minnow variation, a deep-November pattern that he describes as producing an unmistakable visual trigger as the fly returns to the boat in the dark. Variations on Blane Chocklett's patterns adapted for bowfin fishing also feature in the book, illustrating how Game Changer-platform thinking has crossed over into the warm-water exotic-species world. The book's fly photography (all shot by Drew himself using a macro setup he developed during the writing process) includes both hyper-realistic imitative patterns — like Thomas Ames's emerging caddis, designed to capture a specific stage of insect emergence — and intentionally rough, high-production guide flies built for Vermont's blue-line brook trout water. The trolling application of the Governor Aiken Bucktail for landlocked salmon rounds out the technique coverage, reflecting the lake's migratory salmonid fishery that intensifies in fall.Locations & SpeciesThe episode centers on Lake Champlain and the broader Vermont fly fishing ecosystem, with the lake positioned as a legitimate destination fishery for bass, bowfin, lake trout, pike, gar, carp and landlocked salmon — as well as brown trout and brook trout in the tributary streams. Drew notes that Champlain has ranked among the top five bass lakes in the country according to Bassmaster for three decades, and that it holds records across IGFA tippet classes for bowfin. The book also addresses Vermont's blue-line brook trout fishery, acknowledging the state's honest limitations as a trout destination (no super-consistent hatches, less predictable than Pennsylvania or Colorado tailwaters) while pointing readers to the wild brook trout corridors that define summer fly fishing in Vermont. Historically notable waters referenced include Furnace Brook in Pittsford — President Eisenhower's favorite trout stream — and the Northeast Kingdom, the setting for an archival photo tied to the Governor Aiken Bucktail chapter. November is flagged as a particularly productive window for lake trout on fly, with record-low 2025 water conditions adding context for why structure knowledge carries outsized importance on Champlain.FAQ / Key Questions AnsweredWhat made the 2025 fishing season on Lake Champlain unusual?The lake hit near-record low water levels in 2025, a sharp contrast to the high-water years immediately prior. The low water exposed bottom structure Drew had never seen, allowing him to understand exactly why fish hold in certain locations. Drone footage from the season is now part of his ongoing location research.What types of flies are featured in Favorite Flies for Vermont?The book covers 53 patterns, with roughly 40 trout flies and the remainder targeting warm-water and exotic species including bowfin, gar and bass. Patterns range from simple Tenkara-style CDC dries to hyper-realistic emerger caddis imitations from Thomas Ames. Several historically significant Vermont patterns are included, such as the Governor Aiken Bucktail and the Spirit of Pittsford Mills dry fly, with full attribution and historical context for each.How does Drew Price approach pattern attribution in his book?Drew is deliberate about crediting the originators of any pattern he's adapted, even when his modifications are significant. Variations on Blane Chocklett's warm-water patterns and a riff on Bob Clouser's minnow design for lake trout are both attributed explicitly in the text. He extends the same standard to historical patterns, tracing variations back through the tying lineage rather than presenting adaptations as entirely original work.When is the best time to fish for lake trout on Lake Champlain with a fly?November stands out as the peak window, based on Drew's guide experience. The season saw strong late-year Laker fishing and a notable uptick in guided Laker trip requests, which Drew describes as a welcome surprise. A glow-in-the-dark Clouser Minnow variation is his go-to pattern for night-time and low-light Laker sessions on the lake.Why does Drew Price consider Lake Champlain an underrated fly fishing destination?Champlain holds 88 species, roughly 30 of which are realistic fly rod targets — Drew has personally caught 15 different species in a single day on fly. The lake consistently ranks among the top five bass lakes in the U.S. and has produced IGFA tippet-class records for bowfin across nearly all classes. Despite those credentials, it remains well below the radar of most traveling fly anglers, which Drew is actively trying to change through the book and continued guiding.SponsorsThanks to TroutRoutes for sponsoring this episode. Use ARTFLY20 to get 20% off of your TroutRoutes Pro membership.Related ContentS7, Ep 27 – Master Class Angling: The Art of Fishing Exotic Species with Drew PriceS7, Ep 8 – Fly Tying Mastery: Tim Cammisa's New Book and Euro Nymphing AdventuresS2, Ep 114 – All Things Game Changer with Blane ChocklettConnect with Our GuestFollow Master Class Angling on Instagram.Follow the ShowFollow The Articulate Fly on Facebook,

Aston Villa are third.Six points clear of the Champions League trapdoor and yet it doesn't feel comfortable.This episode digs into the strange duality of Villa's current position. On paper, the table looks strong. After 27 games, Villa sit on 51 points, three clear of Manchester United and six ahead of the Champions League drop line. Historically, that buffer matters.But performances tell a different story. The attack has stalled. The midfield spine is missing. The Molineux record is grim.Kamara, Tielemans and McGinn absent has stripped control from the centre of the pitch. Pau Torres' progressive passing is badly missed. Villa are defensively solid, conceding just five goals in 2026, but they are not imposing themselves. Games are tight, tense and reliant on moments rather than dominance.And now comes Wolves away.Four games without a win at Molineux. The last victory came in lockdown. No witnesses. It barely counts .Wolves may be near the bottom, but they have athletes, a back three Villa struggle against, and nothing to lose. For them, it is a free hit. For Villa, it is a pressure point.Lose, and doubt creeps in fast with Chelsea and Manchester United next. Win, and the fear flips into leverage.Because here is the opportunity: Villa only need to finish above one of Liverpool, Chelsea or United to achieve their objective .That is the equation.Fear factor or opportunity?The next two weeks will decide the narrative of the season.UTVGet a Great NordVPN DealGet a cracking deal on NordVPN with four months FREE & a 30 days money-back guarantee here: nordvpn.com/momsGET AD-FREE SHOWS and JOIN MATCH CLUBGet ad-free shows and extra shows, and join My Old Man Said's 24/7 Villa community, Match Club.For more details and to become a member, click here: Become a MOMS MemberJoin the show's listener facebook group The Mad Few.Credits:David Michael - @myoldmansaid Chris Budd - @BUDD_musicPhillip Shaw - @prsgameMy Old Man Said - https://www.myoldmansaid.comThis Podcast has been created and uploaded by My Old Man Said. The views in this Podcast are not necessarily the views of talkSPORT Hosted on Acast. See acast.com/privacy for more information.

TRANSCRIPT Gissele: [00:00:00] was Luther King jr. right? Does love have the power to turn an enemy into a friend. We’re creating an inspiring documentary called Courage to Love The Power of Compassion, which explores extraordinary stories of those who have chosen to do the unthinkable, love and forgive even those who are deeply hurtful. Gissele: Through their journeys, we will uncover the profound impact of forgiveness and love, not only on those offering it, but also receiving it. In addition, we’ll hear from experts who will explore where the love and compassion are part of our human nature, and how we can bridge divides with those we disagree with. Gissele: If you’d like to support our film, please go to www M-A-I-T-R-E-C-E-N-T-R e.com/documentary. It’s mitre center.com/documentary Hello and welcome to The Love and Compassion Podcast with Gissele. We believe that love and compassion have the power to heal our lives and our world. [00:01:00] Don’t forget to like and subscribe for more amazing content. Today we’re talking about self-compassion in teenagers. And my guest is Dr. Gissele: Karen Bluth, who’s an associate professor emerita at the University of North Carolina, where she studies how mindful self-compassion improves the mental health of teens and young adults. She’s the author of five books for teens and caregivers, including The Self-Compassion Workbook for Teens and Mindful Self-Compassion for Teens in Schools. Gissele: In addition, she’s a 2022 recipient of the Inaugural Mind and Life Foundation Award for Public Communication of Contemplative Research. Yay. As a mindfulness practitioner for over 45 years, a mindfulness teacher and an educator with over 18 years of classroom teaching experience, Dr. Bluth frequently gives, talks conducts workshops, and teaches classes in self-compassion in educational and community settings and trains [00:02:00] teachers in mindful self-compassion for teens internationally. Gissele: Please join me in welcoming Dr. Karen Bluth. Hi, Karen. Karen: Hi. It’s well. It’s my pleasure to be here. Thank you so much for inviting me. Gissele: Oh, thank you so much for coming. I think this is a topic that it’s definitely needs to be discussed, and as a mother of two teens, I know the need for self-compassion. I was wondering if you could tell the audience a little bit about how you got started in this work. Karen: Sure. Well it really takes me back to my teen years. I was in high school, it, I was a senior in high school. It was 1975 and I needed. A topic for an independent study project that I had to do for my English class. and it was due the next day. I was driving down the road. I didn’t have my topic of course. Karen: I was driving down the road and outta the corner of my eye, I saw a sign that said something about meditation. Tm at that ti at that time it was transcendental meditation. It still [00:03:00] is actually, but I remembered hearing something about meditation in a different class in my social studies class. And there was something about it when we talked about it in that social studies class that resonated with me. Karen: And I remember thinking, Hmm, that makes sense. So when I saw that sign out of the corner of my eye, I thought, oh, well, let me check this out. So I pulled in. It was this old house I remember, and I went in and I picked up some brochures about transcendental meditation. And talked to the people there and they said, well if you want to be initiated, and I think that was the word they used, come back Saturday at 10 o’clock, I think they said, bring flowers and a piece of fruit. Karen: So it sounded very mysterious to me, but I did, I went back and, and was given a mantra at that time, and that was the beginning of my meditation practice. And you know, I practiced for my senior year in high school. I think when I went to college, it kind of fell away [00:04:00] for a couple of years. And then I got back into it after college and have been practicing meditation, mindfulness since you know, probably the mid eighties. Karen: Regularly. It’s been a cornerstone, an anchor throughout my entire adult life. As I’m sure as I’m sure you know, it has been for, for many people. I, I was very lucky to start early on. And then sometime in the nineties I had little kids and so I spent a fair amount of time in my car with them, in their car seats, trying to get them to nap because they wouldn’t nap at home. Karen: Yeah, I imagine there’s a lot of people that, that resonate with this. And so I had a cassette tape at that time. That’s what we used in our cars of poetry of self-compassion read by the British poet, David White. And this cassette tape had been passed around my meditation group [00:05:00] and so I had this copy and I listened to these poems and. Karen: I think I internalized the message a lot because it was in my car stereo for quite some time. And so this message of self-compassion became really integrated into into, you know, how I spoke to myself. And then about a decade later, I decided to go back to school and get my PhD and I wanted to bring together the different threads of my life. Karen: So that was my personal life, my mindfulness practice Gissele: mm-hmm. Karen: And this whole time I was, I was teaching in schools. I was a teacher and middle school and upper elementary school, fifth grade, mostly also younger grades, but mostly fifth grade and middle school. And so youth and, and, and being with youth and. Karen: Wanting to improve the lives of youth was [00:06:00] really very central to me and my mission actually. And so I, when, when I went back to school in 2008, I wanted to bring together these different threats of my life, my personal mindfulness practice, and my interest in helping youth. And at that time, it was just a few years after Kristen Neff was publishing her work. Karen: So her first articles, research articles on self-compassion came out in 2003. And so this was five years later. There wasn’t that much published at that time and nothing with teens. And so that’s when I just started diving into the work at that point. So that’s a long, a long story really, but that’s really how, how I came to where I am now. Gissele: It’s wonderful. I love that as the teen, you, it’s like, okay, well I’m gonna be initiated here. I’ll show up with my stuff. Karen: It was like, why not? You know? It was 1975. I was like, you know, whatever. It sounds a little weird. Fruit and flowers and [00:07:00] a mantra, but whatever, you know? Gissele: Mm. Yeah. That’s lovely. I do Kriya yoga and so there, there is like an initiation part of the, the component too, and there’s like the offering. Gissele: So yeah, that I resonated with that. I’m interested to to know what the receptivity is of young people towards self-compassion. And the reason why I ask that is as, as a mother of two teenagers, I know that when I, you know, I emphasized to them the importance of meditation, the importance of loving yourself. Gissele: They understand it, but they don’t always wanna practice what I’m doing. And so they wanna find their own path to loving themselves and being compassionate to themselves. What has been the reception of young people? When you show up to schools Karen: Yeah, of course, of course. So yeah, it’s interesting. Karen: So I hear from parents a lot that there’s, and this is actually, you know, this is the job of teens, is to resist what comes from parents. Gissele: Yeah. Karen: And find their own way, as you said. So this is not [00:08:00] not only is it not a bad thing, it’s actually a good thing that they’re a little bit resistant, a little bit of, Hmm. Karen: I don’t wanna just like take on what you’re handing me. Gissele: Yeah. Karen: So what is the reception? It depends who it’s coming from. So again, if it’s coming from a parent, of course it varies. It depends on the relationship between the parent and the kid. But usually, and I’m making a generalization here, there is Karen: A little bit of resistance, a little bit too, you know, maybe a little bit more than a little bit of resistance. Generally after the first class teens if we don’t push them and we don’t, you know, we, it’s always an invitation to participate in these classes. we’re not heavy handed about it. Karen: We don’t require them. Not that you could anyway, you can’t require somebody to do these practices, right? Gissele: Yeah. Karen: We just invite them in, but we don’t you know, we’re not heavy handed. We invite them in and if [00:09:00] we approach it that way the resistance decreases a lot. And you know, the teens might be quiet, but they’re taking it in. Karen: And I have to tell you that. I cannot tell you how many times I’ve heard from teens at the end of a class teens will pull me aside and say something like, you know, this was really my mom’s idea to take this class, or, this was my therapist’s idea. I didn’t really wanna do it, but I’m so glad I did. Karen: I frequently hear that. You know, this is the nature of the beast, you know, this is what, this is what teens are supposed to be doing. They’re supposed to be questioning, they’re supposed to be particularly questioning what comes on, you know, what the adults around them are saying to them. Gissele: I agree with you. I think it’s a developmental stage, right? Because we’re constantly trying to improve, what our parents did be better, be different, if we only just accepted the status quo , I don’t think there’d be progress . I’m curious [00:10:00] as to what some of the outcomes you have seen What are some of the things that you have found have helped, maybe some of the things that maybe weren’t as successful? Karen: Yeah. So well first of all, we know from research that teens who are more self-compassionate experience less depression, anxiety, and stress. For example, we know that as teens progress through adolescence, they tend to become more depressed. Karen: And that’s mostly driven by females. And that, that when teens are more self-compassionate, they’re less likely to get depressed as they move through the teen years. So we see that. We also know that stress is linked to depression, but we know that teens who are more self-compassionate, when they’re stressed, they’re less likely to be depressed. Karen: We also know that depression is linked to self-injury non-suicidal self-injury, things like cutting. But teens who are more self-compassionate are less likely to [00:11:00] self-injure when they’re depressed. so we see across many studies in many different places all over the world, we see that self-compassion actually acts as a protective factor or a buffer against. Karen: Some of these difficult challenges in the teen years. And we also know when we actually teach teens self-compassion through these different through our mindful self-compassion for teens course and workshops and things like that, we see that teens at the end experience less depression than they did at the beginning. Karen: Less anxiety, less stress. And in our most recent study with teens who had some suicidal ideation going in, that they had significantly less suicidal ideation at the end of the study. Gissele: That’s really, really powerful. I just wanted to clarify. You said driven by females? Gissele: Does that mean that it’s mostly young girls who are experiencing the [00:12:00] depression? Karen: I. Well, what we see is that as girls move from age 11 or 12 to 18 generally they become of course it’s generalization, but overall teen girls become more depressed and by the time they’re 18 or so, 18 or 19, they are twice as likely to be depressed as males of the same age. Karen: And that statistics stays the same stable through adulthood. So, you know, adult women are generally twice as likely to be depressed as adult men. That doesn’t mean that that boys or men aren’t struggling also they are. It’s just that their way of expressing their discontent, dissatisfaction, unhappiness is not through depression. Karen: It’s through other means. Usually external. Usually things like anger comes [00:13:00] out with anger. Gissele: Yeah. Yeah. Thank you for that. In this world of COVID, we have young people being more isolated and lonely and with all the school shootings that have happened in America in particular not as much in Canada I’m curious as to the impact of self-compassion on improving relationships for young people. Gissele: Does self-compassion work help them in terms of relationships with one another? Karen: Yeah. Well, we do see we do have a study with young adults that shows and these, these were 18 through 30 that shows decrease in loneliness when these young adults were more self-compassionate. I think what we’re seeing it overall is that obviously through COVID, there’s a lot of isolation, loneliness a lot more turning to social media, turning to technology now, AI and, what [00:14:00] social media does unfortunately is exacerbate this sense of comparing oneself with others, right? Mm-hmm. Gissele: Yeah. Karen: And of course, even though we all know, including teens, that what’s posted in social media is not the full picture of somebody’s life. It’s the curated picture of somebody’s life still. Karen: It exacerbates a sense of, I’m not good enough, I’m not worthy. Look at that person there, you know, they have all this great stuff going on in their lives, and I don’t, you know, so self-compassion can be helpful there. And in fact, in our program, we have a social media exercise and what we teach. Karen: Teens is how to be aware of how they’re feeling when they’re engaging with social media. So we don’t tell them social media’s bad, don’t engage in it because first of all, that’s not gonna work. Second of all, as adults, [00:15:00] we engage with social media. You know, it would be hypocritical of us, us to say not to. Karen: So what we do, which I think is a lot more helpful and also empowering to teens, is to teach them to notice what are you feeling when you’re engaging with social media? What’s coming up for you? Are you feeling this sense of, oh, I’m not good enough, or are you feeling lonely or sad? Or maybe you’re feeling excited, maybe you’re feeling connected. Karen: You know, it’s not all bad. So notice what you’re feeling and then make a choice that’s good for you, that’s healthy for you, you know, take care of yourself. So, so, so self-compassion is all about being good to yourself, supporting yourself, standing up for yourself, you know, doing what’s healthy for yourself.[00:16:00] Karen: It’s all of that. So if you’re noticing that, that something is, makes you feel bad, you have the power to limit it or shut it down completely. And whether that’s social media or you know, a toxic relationship with a friend, you know, you can do that also. But so it’s bringing awareness to what you’re feeling when you’re engaging with them. Gissele: I really appreciate that you said this because I think, I don’t wanna underestimate how powerful what you just said is. Because so many of us are so distractible, we have no idea how we’re feeling in our body. And until we’re present in our body, we can’t really understand how we’re treating ourselves. Gissele: And so to allow young people to just notice how they’re feeling about certain things helps them understand, Hey, wait a minute, is this a positive thing for me or a negative thing for me? And makes them more aware about the choices they’re making and therefore they can choose differently, . They might not choose [00:17:00] differently, but it gives them that awareness of like, how am I being impacted by everything? Gissele: And this is really authentically me, Then they can make that choice. They could take their power back. So I think that’s fantastic. Can you share a little bit about some of the other things that you do in your self-compassion program with teens? Like how do you get them to engage? Gissele: ‘Cause I don’t know if I would see a teen just sitting for hours and hours doing meditation. Karen: Sure. Yeah. Well, we don’t ask them to sit for hours and hours, you know, to practice. Karen: First of all, it’s adapted from Kristen Neff and Chris Gerner’s, mindful self-compassion class for adults. The teen class is different in that it does involve it’s much more activity based. it’s developmentally appropriate. So at the beginning of every class and there are eight classes there’s a little bit of art and it could be mindful drawing. Karen: It could be there’s one class which is. My favorite art activity, which involves playing with UBIC, which if you’re not familiar with Ubic, [00:18:00] it’s like the best slime ever. it comes from the Dr. Seuss book, Barnaby and the Ubik. But it’s, it’s just a wonderful substance and it, and it foreshadow something that we do later in the class. Karen: Each art activity foreshadows something that happens in that class. So we have a little bit of art, like 10 minutes of art at the beginning of every class. we emphasize it’s not about creating some beautiful thing that you’re gonna hang on your wall. It’s about just noticing feeling of a pin in your hand or whatever. Karen: You know, so it’s mindful activity. We have a couple of music meditations with the teens, which the teens absolutely love. We play some games. We introduce informal practices. Mostly we introduce some formal practices, but it’s mostly informal practices, which means things that you can do in the moment. Karen: So you’re starting to feel a little stressed. Notice the feeling of your feet on the floor, you know, that point of contact. and that’s because when we [00:19:00] start to feel stressed, we’re generally in our heads, we’re worrying, we’re anxious. Mm-hmm. It’s all going on in our heads. And when we bring attention to something physical, like the sensation of our feet on the floor, it can be very grounding. Karen: So mostly informal practices. So our regular class is an afterschool class, which is eight sessions, 90 minutes. We also have a school version, which is 16 different sessions, which are 45 minutes long each. Karen: And then we also have have what I’m calling drop in sessions. And this is because school counselors have told us that, you know, sometimes they don’t have a big chunk of time with kids. They have only 10 minutes or 15 minutes. So we have these drop in sessions where they could just go ahead into the class, teach this for 10 minutes, and and so they get a little bit of taste of, of what this is about, or, you know, a number of different drop-in sessions. Gissele: Hmm. [00:20:00] Thank you for sharing that. Gissele: I wanted to mention how important art and music and play are in terms of really reconnecting us with ourselves. Gissele: there’s been so much intergenerational trauma in my family and our history that I’ve had to kind of go back to basics and realize how difficult it was for me to play , how difficult it was for me to sit there and be present with myself. Gissele: Even coloring. I tried coloring and I just kind of rushed through it. Like I had an appointment and I’m like, why am I not allowing myself to be in this moment? But those opportunities, art and music, things that in the school system we haven’t always prioritized , I think is really powerful. Karen: yeah. And I think as adults we don’t play enough by any, by any means, you know? And, in fact, when we train teachers in the program we frequently hear from these adult adults that, you know, they wanna do these activities, you know, because they’re fun. [00:21:00] we need to play more, we need to have more fun, just lighthearted, play. Gissele: Yeah. I’m allowing myself to dance more and twirl more, and play more, even though I do it awkwardly. ’cause there’s always this voice in my head that is like, I have to color it perfectly. Gissele: Right? Like, which is weird because I like to think that I’m pretty compassionate with myself. But as I really am stepping up into Being more connected with my inner child, I can see those little tiny things where I’m like, oh, maybe I should have colored this nicer. Maybe this should have been inside the line. Karen: And teens have those voices also, you know, and which is why we emphasize as they’re, as they’re actually doing the art activity, we say at least several times in that 10 minute period, remember, we don’t care what this looks like. This is not about the product. Karen: It’s not about producing some beautiful thing. It’s about simply noticing, noticing what’s [00:22:00] going on. Noticing noticing the sound of the pencil on the paper. You know, is that making a sound? Notice the feeling when your hand is gripping. You know, the, the pencil is, is there a tightness in your hand? You know, so it’s all about that. Karen: It’s all about noticing, feeling, noticing the process, noticing the sensations that are going on as you’re doing the art. So we’re always emphasizing that as as they’re doing the art and even thoughts noticing, you know, you notice any thoughts coming up in your head like, oh, I don’t like this particular part of the drawing, and can you remember? Karen: That’s just a thought. And notice your thought. And as they’re learning more about the mindfulness piece in the class, will, you know, bring in that notice of thought. It’s just a thought. It doesn’t mean it’s a fact. You can let that thought drift away. Gissele: And that is so powerful. Because personally, having done [00:23:00] self-compassion practices is that you’re teaching. Gissele: reconnection . Right. With yourself, with your body, with your being, as a society, we’re so disconnected from ourselves, from other people. And to just even feel like your fingertips in your body and see how tense we are in the thoughts. Gissele: In my own practice, I’m learning to love my fear and focusing on learning to love everything, Even the challenging moments Can I truly love everything in my life or just even if I can’t, can I just accept it? Can I learn to just allow it? Gissele: And it can feel dynamic, right? So I can imagine for teenagers with their hormones that it must be quite the experience. Mm-hmm. Curious as to your perspectives around how teenagers are doing nowadays. Karen: Yeah. What I am seeing is a lot of struggle. It’s a really hard time and that’s what, you know, the statistics that we’re seeing that there’s high levels of [00:24:00] depression, anxiety, and loneliness. Karen: It’s an overwhelming world that we’re living in. I’m working on a book right now with my wonderful colleague, Marissa Knox. And this is a book for young adults and. We haven’t settled on a title yet, but we are bringing in this idea, and this is, you know, throughout the book and it’s about self-compassion for young adults. Karen: But this idea that we are living in an incredibly challenging world right now. Unbelievably challenging in so many ways, on so many levels. And we have to acknowledge that, you know, and we have to acknowledge that, that things are much harder now than they have been in decades past. And, you know, when I was a young adult, it wasn’t easy either. Karen: You know, there was a huge recession. I mean, I graduated from a good university and couldn’t get a job after, and I was waiting tables, you know, it [00:25:00] wasn’t easy then either, but but it’s a lot more difficult now, you know? The economy is, is even harder and rougher now than it was in the eighties when. Karen: Was waiting tables after graduating. And and you know, I have two young adult children and you know, I hear a lot about their lives and their friends’ lives and how hard it’s, I mean, so we have to acknowledge that. I and you know, when I’m teaching young adults and teens I always bring that in, that, you know, this isn’t your fault. Karen: That you feel all all this huge range of difficult emotions. You know, you’re living at a time when, you know things are really hard, politically, economically on the global stage, everything, you know so. To acknowledge that, to put that out there, to have that be the context in which we [00:26:00] then bring in self-compassion and we talk about how, okay, so now knowing that the world is this way, and guess what, for the moment we can’t do anything about it. Karen: We can in the long run, yes. And we’re working towards that, but right now, in the moment, we’re stuck with it. So how can we take care of ourselves? How can we support ourselves knowing that it’s rough right now and it may not be our fault that we can’t get a job or feel safe in our schools or, Gissele: yeah. Karen: All of that. Gissele: Mm-hmm. Yeah. I think acknowledging is sort of the first step towards saying, okay, where is my power in this moment?Because I think it’s one of the conversations I had with my students is like, you know, in the time when you might feel so powerless, where do you have power? Even if it’s just in terms of how you determine how you feel about the situation. Gissele: Are you gonna let the situation sink you [00:27:00] down and lead you to further depression, Or are you going to choose to say. I’m gonna choose to be kind to myself. I’m gonna choose to do the best I can. I’m gonna choose to allow and do in the moment what I can. And then, you know, if I make a mistake or a trip over over the same rock, I’m gonna pick myself up and keep going. Gissele: Like, or if I can’t, I can’t. Right? So how do we practice that ’cause there’s an element of me that believes that part of the reason why we are in the situation we are in terms of the world, is because of a disconnection, because of a lack of self-compassion and self-love. Gissele: There’s a lack of love in the world in general. And we keep thinking that the way that we’re gonna approach it is have more money and be more successful and do all of these things, but it just breeds separation. Which leads to my next question of how can self-compassion help us create community? Karen: Ah, yeah, so that’s a great [00:28:00] question. Karen: Because of course, as we know, community is absolutely vital. Having community is vital. So I think you know, the first thing that comes to mind is that when we’re more self-compassionate we have less fear of failure because we know we’re not gonna beat ourselves up when we fail. If we fail at something, we’re just gonna say, you know, well, you know, it doesn’t mean I’m a bad person. Karen: It just means like, that didn’t work for me in, in that particular moment. How this applies to community is that we’re more likely to reach out to others, right? So if we’re not so afraid that of getting rejected by others, we’re more likely to make an attempt move out of our comfort zone and reach out and engage in a conversation with. Karen: Somebody we don’t know, for example, we’re more likely to join a community group or, you know, in the case [00:29:00] of teens, you know, sign up for some new sport or music class or whatever to engage with others more and develop that community when we’re feeling so unqualified, unworthy not enough, we’re much more likely to isolate. Karen: And so in that way you know, obviously that’s how community develops is, where we’re able to reach out and en engage with others in, you know, all different ways. Gissele: Mm. Yeah. And the other thing I found in, especially in my self-compassion practice has been that it’s led me to be more authentically myself. Gissele: Mm-hmm. And you can’t really, you can’t really allow yourself to be seen and to be loved and to find your people if you are not allowing yourself to be authentically yourself or to be vulnerable . And so I think that’s a really key aspect of self-compassion, ’cause that’s really what primarily young people want. Gissele: They just wanna be authentically themselves. But we hear all these [00:30:00] messages. I know, I heard them growing up. You know, all about how we have to look a certain way. We have to be a certain way. There’s a right answer to everything. Gissele: and so I think that’s the beauty of self-compassion, is the allowing of multiple perspectives is the allowing of differences in the discomfort. Karen: when you were talking about that, what I was thinking about was in our our teen class, we have a session where teens have the opportunity to really reflect on their core values, and we take them through a particular activity to do this so that they’re thinking about what’s really important to me, what do I really value? Karen: You know how do I wanna live my life and what are the things I wanna let go of, you know? Mm-hmm. So it’s not a conclusive activity where they get to the end and they say, okay, this is what I want. You know? But it’s an opportunity for them to really take a few moments to think about and to reflect on, you know, what do I wanna keep [00:31:00] in my life? Karen: What do I want to hold onto? What do I value and what do I, maybe wanna think about letting go of? It’s just the beginning of that conversation with themselves. Gissele: Hmm. And I love that ’cause I’ve had to do this later in my life, realizing that the things I wanted to have were based on somebody else’s perspective of what they thought I should have. Gissele: And I, I went through a really stripping of like, who am I really? And again, I, this is older, right? Like, who am I really, what do I really love? What do I really wanna do? What do I really want my life to look like? And it’s not anything that I would’ve thought would’ve fit the picture, like it’s not. Gissele: Mm-hmm. But it’s so much better . It’s so much greater, it’s so much more me. Karen: Mm-hmm. Gissele: I was curious as to whether in the program there are elements of how to deal with conflict with one another Karen: Yeah. Well we do have a session activity where we talk about conflict with parents. Mm. And, Gissele: mm-hmm. Karen: Why, first of all, [00:32:00] why that occurs. So, you know, why is that happening? And we talk about the developmental stage and the brain changes and we show this video clip actually from the movie Crudes. Karen: Yeah. Yeah. And you know, there’s a teen in there and she’s having a conflict with her dad. And the dad just wants to keep her safe and isolated and in the cave, and she wants to go out and explore. And we talk about how the dad is doing what he’s supposed to be doing, and the teen is doing what she’s supposed to be doing. Karen: Neither one of them is wrong. And yet conflict ensues because they have different objectives and what can you do when conflict ensues when this happens? And so first of all, just having that awareness that, this dad’s not trying to be mean and horrible. Karen: He’s just trying to keep his kids safe. And sort of having that awareness and then how self-compassion can support you because when you’re [00:33:00] supporting yourself in that way, you can add through mindfulness also. You can regulate your emotions and which is the first step, you know? Karen: Well awareness is the first step. That would be the second step. And then get to a place where you can actually. Talk about what’s going on and acknowledge what the other person wants and needs also. Gissele: Hmm. Yeah. I I love that you brought the movie up, the crudes. ’cause what I, remember you know, they both the daughter and the father push each other, right? Gissele: they push each other to grow and learn. And I wanted to emphasize as well for my listeners about something that you just said, which is really important, which is dealing with Gissele: conflict. the first part is always awareness. It’s like awareness of how am I feeling? What am I, what am I thinking? You know, what’s happening in my body. And the second one is being able to hold space for those difficult feelings , right? Validating our feelings, holding space for those difficult feelings, having compassion for ourselves so that then we can have [00:34:00] compassion for other people’s, even if their perspective’s completely different, like differ from our own. Gissele: And so I think that’s the, the beauty of self-compassion is that it helps us have compassion for ourselves and other people. Sometimes the, as they called the disliked person, mm-hmm. But it really does start with the awareness because I feel like we don’t really know how to have conversations with people anymore. Gissele: There’s like this global canceling that happens because I think we are just so overwhelmed by our own emotions and we haven’t really been. At least some generations haven’t really been taught the social emotional part of, regulating our emotions so that we can then do the work of listening. Gissele: And you know, when I think about listening, I think about the work of Valerie Kaur who talks about revolutionary love. And she says, you know, listening, if you’re truly listening, you have to be willing to change Mm-hmm. Karen: Mm-hmm. Gissele: And that that’s can feel difficult. [00:35:00] It can, Karen: yeah. Karen: I think that’s, I I think you hit on a really important and very big issue which is that there isn’t a lot of listening going on. You know, there really isn’t. You know, there might be people sitting there waiting for the other person to finish talking so that they can say their piece. Right? Gissele: Yeah. Karen: But, of course, when you’re really listening, that’s not what’s going on. When you’re really listening, you’re open and willing to change your mind. So yes, that’s certainly part of this whole, you know, the program at the very beginning, in our first class, we have a piece called Community Agreements where we all agree on how the class is going to proceed. Karen: And one of the things is deep listening. Really listening, without that judging voice, you know, put that judging voice aside as much as possible. [00:36:00] Gissele: And that takes practice. Karen: Yes, Gissele: it does. Karen: It absolutely does. Gissele: often we go straight to judgment instead of professing observations. The other thing I wanted to mention was listening to the voices of young people is so important, which is why I think also your work is so phenomenal . Historically, we have not viewed young people’s voices as important as adult voices, or especially the voices of, of young children. Gissele: What are your thoughts about our ability to be able to listen to young people and collaborate with them in a way that makes them feel involved? ’cause I know I, that’s, I didn’t feel that way when I was young. Gissele: Young people were not invited to sit at the table with the adults to talk about adult things and talk about the world, How can we, emphasize more listening to young people? Karen: Yeah. It’s interesting. I too remember being a teen and clearly thinking, you know what, I know what I’m talking about here. Karen: I have ideas. Gissele: Yeah. Karen: You know, [00:37:00] and I actually did have the opportunity as a teen to be on an adult board of, mm-hmm. Of a nonprofit organization. It was a theater organization that we were involved with. and it was a great opportunity, we need to hear teen’s, voices, you know, we need to hear what they have to say. Karen: That doesn’t mean thatwe’re going to make decisions based on everything that they say or, because obviously we’ve been on the planet for longer and we have a certain amount of wisdom coming from our experience, but truly they know what they need and giving them the opportunity to talk about it and to express it and to listen. Karen: You know, I think what teens want more than anything is really to be listened to. Is to be heard. And maybe that’s what we all want more than every [00:38:00] anything is to be heard. Right. Particularly in the teen years, it’s really the first time when they are aware that they have some opinions and values and things to contribute to the conversation. Karen: And as adults I think it’s our responsibility to listen and to hear their input Gissele: Yeah. Karen: As much as we can again, that doesn’t mean we’re gonna make decisions based on, what they suggest. I remember my daughter as a 15-year-old, went through a stage where she just felt like she didn’t need to wear her seatbelt in the car. Karen: And I was like that’s not happening. Like, now I Gissele: got Karen: this. Nope. Gissele: Yeah. Karen: No. Gissele: Mm-hmm. Karen: So it doesn’t, you know, it doesn’t mean we go with everything that they, that they wanna do by any stretch, but, but to listen, I think is important. Gissele: Yeah. And they, that’s a great example. I’m curious as to her perspective as to why she felt in [00:39:00] that moment she didn’t need seat belts anymore. Karen: You know, I can ask her. I don’t remember. I think she was just exercising herperceived right. as an individual, you know? Mm-hmm. Mm-hmm. Obviously when it comes to safety, you know, we have to, Gissele: there’s a history there as to how we got seat belts. Gissele: Yeah. And so engaging in that conversation as you were talking, I was thinking about the generations and how sometimes it’s difficult for parents to hear the perspectives of their young people. if it, ignites shame and guilt, right. I’ve had conversations with my parents about the impact of my childhood and there’s been lots of like deflecting because it was difficult for them to hold some of these things that I was claiming. Gissele: And I’ve been on the other end as well in terms of like my children when they say stuff and you’re like, I hurt you. And so being able to apologize for me has been really important as a parent to emphasize to my kids that I’m not perfect. You know, we’re, Karen: we’re winging it out here [00:40:00] Gissele: and, and how much forgiveness and how much apologizing needs to happen and how much communication needs to happen when mistakes are made on both sides, right? Gissele: Mm-hmm. And how sometimes those mistakes and those conversations bring us closer together . But I can relate to my parents’ experience ’cause we all wanna be. At least from my perspective, I wanna be a good mom. I wanna be a loving parent. I wanna be the best parent that I can be. Gissele: And sometimes despite your best intense, you make mistakes. you hurt them. you do things like maybe that are based on your own fear. And so I find the practice of self-compassion really helps me be kind to myself and so that I can listen to that feedback and say, you know what? Gissele: I’m gonna sit with this. But it can feel difficult. Gissele: self-compassion really helped me sit with those difficult feelings because I wasn’t judging myself. A bad parent. Karen: yeah. You know, I think being a parent has been so good for my self and compassion practice just because of [00:41:00] everything that you said. Karen: My daughters are now 31 and 33, and you know, of course I made lots and lots of mistakes, I was one of those moms that I prioritized being a good mom. It was so important to me, you know, to be a good mom. And yet I made mistakes. And recently even I, maybe, I don’t know, six, eight months ago I was talking to my older daughter and there was something that I did when she was a teen that I felt, you know, I wish I could have. Karen: Not done what I did. And I felt really bad about what I did. And I, you know, I was talking to her about it and I said, I’m so sorry that I, put my foot down. I know what you really needed was a big hug. I wish I had, you know, done it differently. And she said, you know, mom, don’t worry about it. Karen: You can let that go. You know, I’m fine, But it helped me, first of all to be able to say that. And I think I was able to say that part at least in part, if not, [00:42:00] if not solely because of my self-compassion practice. And I think part of what self-compassion does for us is, is to remind us that we don’t have to be perfect and we’re not going to be any way. Karen: We’re not going to be perfect. We’re gonna make mistakes. So can we forgive ourselves? Gissele: Yeah. Karen: When we make mistakes, you know? And then if we can, and if it’s appropriate or if we want to or whatever, go to that person, you know, like go to our kid and say, look, I am really sorry that I did that and at the time I thought that was best. Karen: And now I see that’s not what you needed. Yeah. And I’m really sorry. Gissele: Yeah, yeah. Yeah. It’s, it’s so interesting, and I think it’s important for us to have this conversation for two reasons. Number one is we think we have to be perfect at being compassionate or none at all. Gissele: none of us are perfect. And I think that’s the problem . We expect ourselves to be truly compassionate, the pinnacle of love [00:43:00] and really just, can you just be a little bit better than yesterday? That’s all that requires. Can you be a little bit more loving? Can you be a little bit more kind? Gissele: That’s all that is really required. And the second thing, which I think you emphasize, which is so important, It’s that we think that being compassionate, it’s gonna be like, well, I’m just gonna, allow my crappy behavior. It is so difficult to be loving and compassionate towards yourself when you don’t feel you deserve it. And what I found in my own practice is it actually enabled me to sit. More. Gissele: With all those aspects that I didn’t like about myself, the more that I was compassionate with myself, I didn’t let myself off the hook, I was able to see how my behavior could have been hurtful , was able to see how there was times when I wasn’t living my values, but if I hadn’t been compassionate, I would’ve deflected. Gissele: I would’ve like invalidated. I would’ve been like, no, no. It’s their problem. It’s not me. And so this is why the practice of compassion is so important, especially starting younger. [00:44:00] So a few more questions. I say youngest that you have done work on it. And are there groups that are helping our, really young people practice compassion? Karen: Yeah, absolutely. So I work with teens and as young as 11 or so. Gissele: Mm. Karen: There are people who work with younger, with younger kids. My colleague Jamie Lynn Tartera works with kids age about seven to 10 or so. And then my colleague Catherine Lovewell in the UK works with kids who are younger and she has a wonderful book out and stuffed animals and and all this really wonderful wonderful stuff for younger kids. Karen: And it’s just adorable. I have some of her things right here. I know you’re not gonna be able to see it over audio, but some of her, so these are her [00:45:00] stuffies that go with her, with her. I like Gissele: the rainbow one. Karen: Yeah. Well, this is actually, so her book is about the inner critic and Yeah, this is Crusher, which is your inner critic, and this is Booster. Karen: Who is your self-compassionate. So the Rainbow Guide is, oh, that’s beautiful, but she just has an unbelievably wonderful program. So yes, there are people working with younger kids and yeah, it’s so important to start early. Gissele: Thanks. Oh yeah, for sure. Yeah. But I absolutely appreciate that you’re working with teens ’cause that can be a difficult population, but definitely, definitely needed. Gissele: I think sometimes we make it more acceptable to do those kinds of things, like self-compassion, self-kindness practices with young kids, and then for some reason it just kind of drops off the face of the earth and we’re not continuing that practice. So I think it’s wonderful that you are doing that work. Gissele: Two more questions. I’m asking all of my, guests what their definition of self-love is. Karen: Definition of [00:46:00] self-love accepting yourself for who you are. Gissele: Mm-hmm. Karen: With all your so-called challenges and securities. Because really that’s, that’s what makes us who we are, is the whole package. Karen: You know, the things we like about ourselves and the things we’re not as comfortable with about ourselves and when we can. And you used this word earlier, which I think is, is really great. Allow the word allow when we can allow those parts of ourselves to be there, to be present and to accept them. Karen: Say, you know what, you know, I’m not the most patient person in the world. I know that about myself. And you know what? It’s okay. It’s okay. I’m not gonna be perfect and I’m not gonna be good at everything. I. And that’s okay. It’s okay not to be good at everything. So I, you know, my definition of self-love would be [00:47:00] just to, you know, be able to allow all those parts of your, of yourself, you know, to be present and to be there and maybe eventually move towards embracing them. Gissele: Hmm. I love that. So last question. Where can people work with you? Where can they find you? Where can they find your books? Please share. Karen: there’s two websites. There’s my website, which is my name http://www.karenbluth.com. And so you’ll find out about me about my work. On that website, we have a new website, which I really would like to promote. Karen: it’s a website, for teens teens, and that’s http://www.self-compassionforteens.org. And self-compassion is hyphenated. And so that is a recent website that we’ve just launched in the last couple of months which has all kinds of resources for teens, videos, short videos about explaining what self-compassion [00:48:00] is, you know, what the inner critic is, how can we deal with the inner critic. Karen: There’s there’s a quiz on there. See how self-compassionate you are. There’s video, there’s some videos that. Teams who have learned taken our courses, have talked about their experience with self-compassion. And then there’s section about taking a deeper dive. Anyway, I really would like teens everywhere to, to know about this website and have access to it. Karen: And it’s a great place to start to learn about how to be nicer to yourself. Gissele: Beautiful. There’ll be a link on our site. So thank you very much, Karen, for coming on the show and sharing your wisdom with us and for the work that you’re doing, which is so, so important and so needed at this time. And thank you for everyone that tuned into another episode of Love and Compassion Podcast with Gissele. Gissele: See you soon.

Bryan Cantrill is the co-founder and CTO of Oxide Computer Company. We discuss why the biggest cloud providers don't use off the shelf hardware, how scaling data centers at samsung's scale exposed problems with hard drive firmware, how the values of NodeJS are in conflict with robust systems, choosing Rust, and the benefits of Oxide Computer's rack scale approach. This is an extended version of an interview posted on Software Engineering Radio. Related links Oxide Computer Oxide and Friends Illumos Platform as a Reflection of Values RFD 26 bhyve CockroachDB Heterogeneous Computing with Raja Koduri Transcript You can help correct transcripts on GitHub. Intro [00:00:00] Jeremy: Today I am talking to Bryan Cantrill. He's the co-founder and CTO of Oxide computer company, and he was previously the CTO of Joyent and he also co-authored the DTrace Tracing framework while he was at Sun Microsystems. [00:00:14] Jeremy: Bryan, welcome to Software Engineering radio. [00:00:17] Bryan: Uh, awesome. Thanks for having me. It's great to be here. [00:00:20] Jeremy: You're the CTO of a company that makes computers. But I think before we get into that, a lot of people who built software, now that the actual computer is abstracted away, they're using AWS or they're using some kind of cloud service. So I thought we could start by talking about, data centers. [00:00:41] Jeremy: 'cause you were. Previously working at Joyent, and I believe you got bought by Samsung and you've previously talked about how you had to figure out, how do I run things at Samsung's scale. So how, how, how was your experience with that? What, what were the challenges there? Samsung scale and migrating off the cloud [00:01:01] Bryan: Yeah, I mean, so at Joyent, and so Joyent was a cloud computing pioneer. Uh, we competed with the likes of AWS and then later GCP and Azure. Uh, and we, I mean, we were operating at a scale, right? We had a bunch of machines, a bunch of dcs, but ultimately we know we were a VC backed company and, you know, a small company by the standards of, certainly by Samsung standards. [00:01:25] Bryan: And so when, when Samsung bought the company, I mean, the reason by the way that Samsung bought Joyent is Samsung's. Cloud Bill was, uh, let's just say it was extremely large. They were spending an enormous amount of money every year on, on the public cloud. And they realized that in order to secure their fate economically, they had to be running on their own infrastructure. [00:01:51] Bryan: It did not make sense. And there's not, was not really a product that Samsung could go buy that would give them that on-prem cloud. Uh, I mean in that, in that regard, like the state of the market was really no different. And so they went looking for a company, uh, and bought, bought Joyent. And when we were on the inside of Samsung. [00:02:11] Bryan: That we learned about Samsung scale. And Samsung loves to talk about Samsung scale. And I gotta tell you, it is more than just chest thumping. Like Samsung Scale really is, I mean, just the, the sheer, the number of devices, the number of customers, just this absolute size. they really wanted to take us out to, to levels of scale, certainly that we had not seen. [00:02:31] Bryan: The reason for buying Joyent was to be able to stand up on their own infrastructure so that we were gonna go buy, we did go buy a bunch of hardware. Problems with server hardware at scale [00:02:40] Bryan: And I remember just thinking, God, I hope Dell is somehow magically better. I hope the problems that we have seen in the small, we just. You know, I just remember hoping and hope is hope. It was of course, a terrible strategy and it was a terrible strategy here too. Uh, and the we that the problems that we saw at the large were, and when you scale out the problems that you see kind of once or twice, you now see all the time and they become absolutely debilitating. [00:03:12] Bryan: And we saw a whole series of really debilitating problems. I mean, many ways, like comically debilitating, uh, in terms of, of showing just how bad the state-of-the-art. Yes. And we had, I mean, it should be said, we had great software and great software expertise, um, and we were controlling our own system software. [00:03:35] Bryan: But even controlling your own system software, your own host OS, your own control plane, which is what we had at Joyent, ultimately, you're pretty limited. You go, I mean, you got the problems that you can obviously solve, the ones that are in your own software, but the problems that are beneath you, the, the problems that are in the hardware platform, the problems that are in the componentry beneath you become the problems that are in the firmware. IO latency due to hard drive firmware [00:04:00] Bryan: Those problems become unresolvable and they are deeply, deeply frustrating. Um, and we just saw a bunch of 'em again, they were. Comical in retrospect, and I'll give you like a, a couple of concrete examples just to give, give you an idea of what kinda what you're looking at. one of the, our data centers had really pathological IO latency. [00:04:23] Bryan: we had a very, uh, database heavy workload. And this was kind of right at the period where you were still deploying on rotating media on hard drives. So this is like, so. An all flash buy did not make economic sense when we did this in, in 2016. This probably, it'd be interesting to know like when was the, the kind of the last time that that actual hard drives made sense? [00:04:50] Bryan: 'cause I feel this was close to it. So we had a, a bunch of, of a pathological IO problems, but we had one data center in which the outliers were actually quite a bit worse and there was so much going on in that system. It took us a long time to figure out like why. And because when, when you, when you're io when you're seeing worse io I mean you're naturally, you wanna understand like what's the workload doing? [00:05:14] Bryan: You're trying to take a first principles approach. What's the workload doing? So this is a very intensive database workload to support the, the object storage system that we had built called Manta. And that the, the metadata tier was stored and uh, was we were using Postgres for that. And that was just getting absolutely slaughtered. [00:05:34] Bryan: Um, and ultimately very IO bound with these kind of pathological IO latencies. Uh, and as we, you know, trying to like peel away the layers to figure out what was going on. And I finally had this thing. So it's like, okay, we are seeing at the, at the device layer, at the at, at the disc layer, we are seeing pathological outliers in this data center that we're not seeing anywhere else. [00:06:00] Bryan: And that does not make any sense. And the thought occurred to me. I'm like, well, maybe we are. Do we have like different. Different rev of firmware on our HGST drives, HGST. Now part of WD Western Digital were the drives that we had everywhere. And, um, so maybe we had a different, maybe I had a firmware bug. [00:06:20] Bryan: I, this would not be the first time in my life at all that I would have a drive firmware issue. Uh, and I went to go pull the firmware, rev, and I'm like, Toshiba makes hard drives? So we had, I mean. I had no idea that Toshiba even made hard drives, let alone that they were our, they were in our data center. [00:06:38] Bryan: I'm like, what is this? And as it turns out, and this is, you know, part of the, the challenge when you don't have an integrated system, which not to pick on them, but Dell doesn't, and what Dell would routinely put just sub make substitutes, and they make substitutes that they, you know, it's kind of like you're going to like, I don't know, Instacart or whatever, and they're out of the thing that you want. [00:07:03] Bryan: So, you know, you're, someone makes a substitute and like sometimes that's okay, but it's really not okay in a data center. And you really want to develop and validate a, an end-to-end integrated system. And in this case, like Toshiba doesn't, I mean, Toshiba does make hard drives, but they are a, or the data they did, uh, they basically were, uh, not competitive and they were not competitive in part for the reasons that we were discovering. [00:07:29] Bryan: They had really serious firmware issues. So the, these were drives that would just simply stop a, a stop acknowledging any reads from the order of 2,700 milliseconds. Long time, 2.7 seconds. Um. And that was a, it was a drive firmware issue, but it was highlighted like a much deeper issue, which was the simple lack of control that we had over our own destiny. [00:07:53] Bryan: Um, and it's an, it's, it's an example among many where Dell is making a decision. That lowers the cost of what they are providing you marginally, but it is then giving you a system that they shouldn't have any confidence in because it's not one that they've actually designed and they leave it to the customer, the end user, to make these discoveries. [00:08:18] Bryan: And these things happen up and down the stack. And for every, for whether it's, and, and not just to pick on Dell because it's, it's true for HPE, it's true for super micro, uh, it's true for your switch vendors. It's, it's true for storage vendors where the, the, the, the one that is left actually integrating these things and trying to make the the whole thing work is the end user sitting in their data center. AWS / Google are not buying off the shelf hardware but you can't use it [00:08:42] Bryan: There's not a product that they can buy that gives them elastic infrastructure, a cloud in their own DC The, the product that you buy is the public cloud. Like when you go in the public cloud, you don't worry about the stuff because that it's, it's AWS's issue or it's GCP's issue. And they are the ones that get this to ground. [00:09:02] Bryan: And they, and this was kind of, you know, the eye-opening moment. Not a surprise. Uh, they are not Dell customers. They're not HPE customers. They're not super micro customers. They have designed their own machines. And to varying degrees, depending on which one you're looking at. But they've taken the clean sheet of paper and the frustration that we had kind of at Joyent and beginning to wonder and then Samsung and kind of wondering what was next, uh, is that, that what they built was not available for purchase in the data center. [00:09:35] Bryan: You could only rent it in the public cloud. And our big belief is that public cloud computing is a really important revolution in infrastructure. Doesn't feel like a different, a deep thought, but cloud computing is a really important revolution. It shouldn't only be available to rent. You should be able to actually buy it. [00:09:53] Bryan: And there are a bunch of reasons for doing that. Uh, one in the one we we saw at Samsung is economics, which I think is still the dominant reason where it just does not make sense to rent all of your compute in perpetuity. But there are other reasons too. There's security, there's risk management, there's latency. [00:10:07] Bryan: There are a bunch of reasons why one might wanna to own one's own infrastructure. But, uh, that was very much the, the, so the, the genesis for oxide was coming out of this very painful experience and a painful experience that, because, I mean, a long answer to your question about like what was it like to be at Samsung scale? [00:10:27] Bryan: Those are the kinds of things that we, I mean, in our other data centers, we didn't have Toshiba drives. We only had the HDSC drives, but it's only when you get to this larger scale that you begin to see some of these pathologies. But these pathologies then are really debilitating in terms of those who are trying to develop a service on top of them. [00:10:45] Bryan: So it was, it was very educational in, in that regard. And you're very grateful for the experience at Samsung in terms of opening our eyes to the challenge of running at that kind of scale. [00:10:57] Jeremy: Yeah, because I, I think as software engineers, a lot of times we, we treat the hardware as a, as a given where, [00:11:08] Bryan: Yeah. [00:11:08] Bryan: Yeah. There's software in chard drives [00:11:09] Jeremy: It sounds like in, in this case, I mean, maybe the issue is not so much that. Dell or HP as a company doesn't own every single piece that they're providing you, but rather the fact that they're swapping pieces in and out without advertising them, and then when it becomes a problem, they're not necessarily willing to, to deal with the, the consequences of that. [00:11:34] Bryan: They just don't know. I mean, I think they just genuinely don't know. I mean, I think that they, it's not like they're making a deliberate decision to kind of ship garbage. It's just that they are making, I mean, I think it's exactly what you said about like, not thinking about the hardware. It's like, what's a hard drive? [00:11:47] Bryan: Like what's it, I mean, it's a hard drive. It's got the same specs as this other hard drive and Intel. You know, it's a little bit cheaper, so why not? It's like, well, like there's some reasons why not, and one of the reasons why not is like, uh, even a hard drive, whether it's rotating media or, or flash, like that's not just hardware. [00:12:05] Bryan: There's software in there. And that the software's like not the same. I mean, there are components where it's like, there's actually, whether, you know, if, if you're looking at like a resistor or a capacitor or something like this Yeah. If you've got two, two parts that are within the same tolerance. Yeah. [00:12:19] Bryan: Like sure. Maybe, although even the EEs I think would be, would be, uh, objecting that a little bit. But the, the, the more complicated you get, and certainly once you get to the, the, the, the kind of the hardware that we think of like a, a, a microprocessor, a a network interface card, a a, a hard driver, an NVME drive. [00:12:38] Bryan: Those things are super complicated and there's a whole bunch of software inside of those things, the firmware, and that's the stuff that, that you can't, I mean, you say that software engineers don't think about that. It's like you, no one can really think about that because it's proprietary that's kinda welded shut and you've got this abstraction into it. [00:12:55] Bryan: But the, the way that thing operates is very core to how the thing in aggregate will behave. And I think that you, the, the kind of, the, the fundamental difference between Oxide's approach and the approach that you get at a Dell HP Supermicro, wherever, is really thinking holistically in terms of hardware and software together in a system that, that ultimately delivers cloud computing to a user. [00:13:22] Bryan: And there's a lot of software at many, many, many, many different layers. And it's very important to think about, about that software and that hardware holistically as a single system. [00:13:34] Jeremy: And during that time at Joyent, when you experienced some of these issues, was it more of a case of you didn't have enough servers experiencing this? So if it would happen, you might say like, well, this one's not working, so maybe we'll just replace the hardware. What, what was the thought process when you were working at that smaller scale and, and how did these issues affect you? UEFI / Baseboard Management Controller [00:13:58] Bryan: Yeah, at the smaller scale, you, uh, you see fewer of them, right? You just see it's like, okay, we, you know, what you might see is like, that's weird. We kinda saw this in one machine versus seeing it in a hundred or a thousand or 10,000. Um, so you just, you just see them, uh, less frequently as a result, they are less debilitating. [00:14:16] Bryan: Um, I, I think that it's, when you go to that larger scale, those things that become, that were unusual now become routine and they become debilitating. Um, so it, it really is in many regards a function of scale. Uh, and then I think it was also, you know, it was a little bit dispiriting that kind of the substrate we were building on really had not improved. [00:14:39] Bryan: Um, and if you look at, you know, the, if you buy a computer server, buy an x86 server. There is a very low layer of firmware, the BIOS, the basic input output system, the UEFI BIOS, and this is like an abstraction layer that has, has existed since the eighties and hasn't really meaningfully improved. Um, the, the kind of the transition to UEFI happened with, I mean, I, I ironically with Itanium, um, you know, two decades ago. [00:15:08] Bryan: but beyond that, like this low layer, this lowest layer of platform enablement software is really only impeding the operability of the system. Um, you look at the baseboard management controller, which is the kind of the computer within the computer, there is a, uh, there is an element in the machine that needs to handle environmentals, that needs to handle, uh, operate the fans and so on. [00:15:31] Bryan: Uh, and that traditionally has this, the space board management controller, and that architecturally just hasn't improved in the last two decades. And, you know, that's, it's a proprietary piece of silicon. Generally from a company that no one's ever heard of called a Speed, uh, which has to be, is written all on caps, so I guess it needs to be screamed. [00:15:50] Bryan: Um, a speed has a proprietary part that has a, there is a root password infamously there, is there, the root password is encoded effectively in silicon. So, uh, which is just, and for, um, anyone who kind of goes deep into these things, like, oh my God, are you kidding me? Um, when we first started oxide, the wifi password was a fraction of the a speed root password for the bmc. [00:16:16] Bryan: It's kinda like a little, little BMC humor. Um, but those things, it was just dispiriting that, that the, the state-of-the-art was still basically personal computers running in the data center. Um, and that's part of what, what was the motivation for doing something new? [00:16:32] Jeremy: And for the people using these systems, whether it's the baseboard management controller or it's the The BIOS or UF UEFI component, what are the actual problems that people are seeing seen? Security vulnerabilities and poor practices in the BMC [00:16:51] Bryan: Oh man, I, the, you are going to have like some fraction of your listeners, maybe a big fraction where like, yeah, like what are the problems? That's a good question. And then you're gonna have the people that actually deal with these things who are, did like their heads already hit the desk being like, what are the problems? [00:17:06] Bryan: Like what are the non problems? Like what, what works? Actually, that's like a shorter answer. Um, I mean, there are so many problems and a lot of it is just like, I mean, there are problems just architecturally these things are just so, I mean, and you could, they're the problems spread to the horizon, so you can kind of start wherever you want. [00:17:24] Bryan: But I mean, as like, as a really concrete example. Okay, so the, the BMCs that, that the computer within the computer that needs to be on its own network. So you now have like not one network, you got two networks that, and that network, by the way, it, that's the network that you're gonna log into to like reset the machine when it's otherwise unresponsive. [00:17:44] Bryan: So that going into the BMC, you can are, you're able to control the entire machine. Well it's like, alright, so now I've got a second net network that I need to manage. What is running on the BMC? Well, it's running some. Ancient, ancient version of Linux it that you got. It's like, well how do I, how do I patch that? [00:18:02] Bryan: How do I like manage the vulnerabilities with that? Because if someone is able to root your BMC, they control the system. So it's like, this is not you've, and now you've gotta go deal with all of the operational hair around that. How do you upgrade that system updating the BMC? I mean, it's like you've got this like second shadow bad infrastructure that you have to go manage. [00:18:23] Bryan: Generally not open source. There's something called open BMC, um, which, um, you people use to varying degrees, but you're generally stuck with the proprietary BMC, so you're generally stuck with, with iLO from HPE or iDRAC from Dell or, or, uh, the, uh, su super micros, BMC, that H-P-B-M-C, and you are, uh, it is just excruciating pain. [00:18:49] Bryan: Um, and that this is assuming that by the way, that everything is behaving correctly. The, the problem is that these things often don't behave correctly, and then the consequence of them not behaving correctly. It's really dire because it's at that lowest layer of the system. So, I mean, I'll give you a concrete example. [00:19:07] Bryan: a customer of theirs reported to me, so I won't disclose the vendor, but let's just say that a well-known vendor had an issue with their, their temperature sensors were broken. Um, and the thing would always read basically the wrong value. So it was the BMC that had to like, invent its own ki a different kind of thermal control loop. [00:19:28] Bryan: And it would index on the, on the, the, the, the actual inrush current. It would, they would look at that at the current that's going into the CPU to adjust the fan speed. That's a great example of something like that's a, that's an interesting idea. That doesn't work. 'cause that's actually not the temperature. [00:19:45] Bryan: So like that software would crank the fans whenever you had an inrush of current and this customer had a workload that would spike the current and by it, when it would spike the current, the, the, the fans would kick up and then they would slowly degrade over time. Well, this workload was spiking the current faster than the fans would degrade, but not fast enough to actually heat up the part. [00:20:08] Bryan: And ultimately over a very long time, in a very painful investigation, it's customer determined that like my fans are cranked in my data center for no reason. We're blowing cold air. And it's like that, this is on the order of like a hundred watts, a server of, of energy that you shouldn't be spending and like that ultimately what that go comes down to this kind of broken software hardware interface at the lowest layer that has real meaningful consequence, uh, in terms of hundreds of kilowatts, um, across a data center. So this stuff has, has very, very, very real consequence and it's such a shadowy world. Part of the reason that, that your listeners that have dealt with this, that our heads will hit the desk is because it is really aggravating to deal with problems with this layer. [00:21:01] Bryan: You, you feel powerless. You don't control or really see the software that's on them. It's generally proprietary. You are relying on your vendor. Your vendor is telling you that like, boy, I don't know. You're the only customer seeing this. I mean, the number of times I have heard that for, and I, I have pledged that we're, we're not gonna say that at oxide because it's such an unaskable thing to say like, you're the only customer saying this. [00:21:25] Bryan: It's like, it feels like, are you blaming me for my problem? Feels like you're blaming me for my problem? Um, and what you begin to realize is that to a degree, these folks are speaking their own truth because the, the folks that are running at real scale at Hyperscale, those folks aren't Dell, HP super micro customers. [00:21:46] Bryan: They're actually, they've done their own thing. So it's like, yeah, Dell's not seeing that problem, um, because they're not running at the same scale. Um, but when you do run, you only have to run at modest scale before these things just become. Overwhelming in terms of the, the headwind that they present to people that wanna deploy infrastructure. The problem is felt with just a few racks [00:22:05] Jeremy: Yeah, so maybe to help people get some perspective at, at what point do you think that people start noticing or start feeling these problems? Because I imagine that if you're just have a few racks or [00:22:22] Bryan: do you have a couple racks or the, or do you wonder or just wondering because No, no, no. I would think, I think anyone who deploys any number of servers, especially now, especially if your experience is only in the cloud, you're gonna be like, what the hell is this? I mean, just again, just to get this thing working at all. [00:22:39] Bryan: It is so it, it's so hairy and so congealed, right? It's not designed. Um, and it, it, it, it's accreted it and it's so obviously accreted that you are, I mean, nobody who is setting up a rack of servers is gonna think to themselves like, yes, this is the right way to go do it. This all makes sense because it's, it's just not, it, I, it feels like the kit, I mean, kit car's almost too generous because it implies that there's like a set of plans to work to in the end. [00:23:08] Bryan: Uh, I mean, it, it, it's a bag of bolts. It's a bunch of parts that you're putting together. And so even at the smallest scales, that stuff is painful. Just architecturally, it's painful at the small scale then, but at least you can get it working. I think the stuff that then becomes debilitating at larger scale are the things that are, are worse than just like, I can't, like this thing is a mess to get working. [00:23:31] Bryan: It's like the, the, the fan issue that, um, where you are now seeing this over, you know, hundreds of machines or thousands of machines. Um, so I, it is painful at more or less all levels of scale. There's, there is no level at which the, the, the pc, which is really what this is, this is a, the, the personal computer architecture from the 1980s and there is really no level of scale where that's the right unit. Running elastic infrastructure is the hardware but also, hypervisor, distributed database, api, etc [00:23:57] Bryan: I mean, where that's the right thing to go deploy, especially if what you are trying to run. Is elastic infrastructure, a cloud. Because the other thing is like we, we've kinda been talking a lot about that hardware layer. Like hardware is, is just the start. Like you actually gotta go put software on that and actually run that as elastic infrastructure. [00:24:16] Bryan: So you need a hypervisor. Yes. But you need a lot more than that. You, you need to actually, you, you need a distributed database, you need web endpoints. You need, you need a CLI, you need all the stuff that you need to actually go run an actual service of compute or networking or storage. I mean, and for, for compute, even for compute, there's a ton of work to be done. [00:24:39] Bryan: And compute is by far, I would say the simplest of the, of the three. When you look at like networks, network services, storage services, there's a whole bunch of stuff that you need to go build in terms of distributed systems to actually offer that as a cloud. So it, I mean, it is painful at more or less every LE level if you are trying to deploy cloud computing on. What's a control plane? [00:25:00] Jeremy: And for someone who doesn't have experience building or working with this type of infrastructure, when you talk about a control plane, what, what does that do in the context of this system? [00:25:16] Bryan: So control plane is the thing that is, that is everything between your API request and that infrastructure actually being acted upon. So you go say, Hey, I, I want a provision, a vm. Okay, great. We've got a whole bunch of things we're gonna provision with that. We're gonna provision a vm, we're gonna get some storage that's gonna go along with that, that's got a network storage service that's gonna come out of, uh, we've got a virtual network that we're gonna either create or attach to. [00:25:39] Bryan: We've got a, a whole bunch of things we need to go do for that. For all of these things, there are metadata components that need, we need to keep track of this thing that, beyond the actual infrastructure that we create. And then we need to go actually, like act on the actual compute elements, the hostos, what have you, the switches, what have you, and actually go. [00:25:56] Bryan: Create these underlying things and then connect them. And there's of course, the challenge of just getting that working is a big challenge. Um, but getting that working robustly, getting that working is, you know, when you go to provision of vm, um, the, all the, the, the steps that need to happen and what happens if one of those steps fails along the way? [00:26:17] Bryan: What happens if, you know, one thing we're very mindful of is these kind of, you get these long tails of like, why, you know, generally our VM provisioning happened within this time, but we get these long tails where it takes much longer. What's going on? What, where in this process are we, are we actually spending time? [00:26:33] Bryan: Uh, and there's a whole lot of complexity that you need to go deal with that. There's a lot of complexity that you need to go deal with this effectively, this workflow that's gonna go create these things and manage them. Um, we use a, a pattern that we call, that are called sagas, actually is a, is a database pattern from the eighties. [00:26:51] Bryan: Uh, Katie McCaffrey is a, is a database reCrcher who, who, uh, I, I think, uh, reintroduce the idea of, of sagas, um, in the last kind of decade. Um, and this is something that we picked up, um, and I've done a lot of really interesting things with, um, to allow for, to this kind of, these workflows to be, to be managed and done so robustly in a way that you can restart them and so on. [00:27:16] Bryan: Uh, and then you guys, you get this whole distributed system that can do all this. That whole distributed system, that itself needs to be reliable and available. So if you, you know, you need to be able to, what happens if you, if you pull a sled or if a sled fails, how does the system deal with that? [00:27:33] Bryan: How does the system deal with getting an another sled added to the system? Like how do you actually grow this distributed system? And then how do you update it? How do you actually go from one version to the next? And all of that has to happen across an air gap where this is gonna run as part of the computer. [00:27:49] Bryan: So there are, it, it is fractally complicated. There, there is a lot of complexity here in, in software, in the software system and all of that. We kind of, we call the control plane. Um, and it, this is the what exists at AWS at GCP, at Azure. When you are hitting an endpoint that's provisioning an EC2 instance for you. [00:28:10] Bryan: There is an AWS control plane that is, is doing all of this and has, uh, some of these similar aspects and certainly some of these similar challenges. Are vSphere / Proxmox / Hyper-V in the same category? [00:28:20] Jeremy: And for people who have run their own servers with something like say VMware or Hyper V or Proxmox, are those in the same category? [00:28:32] Bryan: Yeah, I mean a little bit. I mean, it kind of like vSphere Yes. Via VMware. No. So it's like you, uh, VMware ESX is, is kind of a key building block upon which you can build something that is a more meaningful distributed system. When it's just like a machine that you're provisioning VMs on, it's like, okay, well that's actually, you as the human might be the control plane. [00:28:52] Bryan: Like, that's, that, that's, that's a much easier problem. Um, but when you've got, you know, tens, hundreds, thousands of machines, you need to do it robustly. You need something to coordinate that activity and you know, you need to pick which sled you land on. You need to be able to move these things. You need to be able to update that whole system. [00:29:06] Bryan: That's when you're getting into a control plane. So, you know, some of these things have kind of edged into a control plane, certainly VMware. Um, now Broadcom, um, has delivered something that's kind of cloudish. Um, I think that for folks that are truly born on the cloud, it, it still feels somewhat, uh, like you're going backwards in time when you, when you look at these kind of on-prem offerings. [00:29:29] Bryan: Um, but, but it, it, it's got these aspects to it for sure. Um, and I think that we're, um, some of these other things when you're just looking at KVM or just looks looking at Proxmox you kind of need to, to connect it to other broader things to turn it into something that really looks like manageable infrastructure. [00:29:47] Bryan: And then many of those projects are really, they're either proprietary projects, uh, proprietary products like vSphere, um, or you are really dealing with open source projects that are. Not necessarily aimed at the same level of scale. Um, you know, you look at a, again, Proxmox or, uh, um, you'll get an OpenStack. [00:30:05] Bryan: Um, and you know, OpenStack is just a lot of things, right? I mean, OpenStack has got so many, the OpenStack was kind of a, a free for all, for every infrastructure vendor. Um, and I, you know, there was a time people were like, don't you, aren't you worried about all these companies together that, you know, are coming together for OpenStack? [00:30:24] Bryan: I'm like, haven't you ever worked for like a company? Like, companies don't get along. By the way, it's like having multiple companies work together on a thing that's bad news, not good news. And I think, you know, one of the things that OpenStack has definitely struggled with, kind of with what, actually the, the, there's so many different kind of vendor elements in there that it's, it's very much not a product, it's a project that you're trying to run. [00:30:47] Bryan: But that's, but that very much is in, I mean, that's, that's similar certainly in spirit. [00:30:53] Jeremy: And so I think this is kind of like you're alluding to earlier, the piece that allows you to allocate, compute, storage, manage networking, gives you that experience of I can go to a web console or I can use an API and I can spin up machines, get them all connected. At the end of the day, the control plane. Is allowing you to do that in hopefully a user-friendly way. [00:31:21] Bryan: That's right. Yep. And in the, I mean, in order to do that in a modern way, it's not just like a user-friendly way. You really need to have a CLI and a web UI and an API. Those all need to be drawn from the same kind of single ground truth. Like you don't wanna have any of those be an afterthought for the other. [00:31:39] Bryan: You wanna have the same way of generating all of those different endpoints and, and entries into the system. Building a control plane now has better tools (Rust, CockroachDB) [00:31:46] Jeremy: And if you take your time at Joyent as an example. What kind of tools existed for that versus how much did you have to build in-house for as far as the hypervisor and managing the compute and all that? [00:32:02] Bryan: Yeah, so we built more or less everything in house. I mean, what you have is, um, and I think, you know, over time we've gotten slightly better tools. Um, I think, and, and maybe it's a little bit easier to talk about the, kind of the tools we started at Oxide because we kind of started with a, with a clean sheet of paper at oxide. [00:32:16] Bryan: We wanted to, knew we wanted to go build a control plane, but we were able to kind of go revisit some of the components. So actually, and maybe I'll, I'll talk about some of those changes. So when we, at, For example, at Joyent, when we were building a cloud at Joyent, there wasn't really a good distributed database. [00:32:34] Bryan: Um, so we were using Postgres as our database for metadata and there were a lot of challenges. And Postgres is not a distributed database. It's running. With a primary secondary architecture, and there's a bunch of issues there, many of which we discovered the hard way. Um, when we were coming to oxide, you have much better options to pick from in terms of distributed databases. [00:32:57] Bryan: You know, we, there was a period that now seems maybe potentially brief in hindsight, but of a really high quality open source distributed databases. So there were really some good ones to, to pick from. Um, we, we built on CockroachDB on CRDB. Um, so that was a really important component. That we had at oxide that we didn't have at Joyent. [00:33:19] Bryan: Um, so we were, I wouldn't say we were rolling our own distributed database, we were just using Postgres and uh, and, and dealing with an enormous amount of pain there in terms of the surround. Um, on top of that, and, and, you know, a, a control plane is much more than a database, obviously. Uh, and you've gotta deal with, uh, there's a whole bunch of software that you need to go, right. [00:33:40] Bryan: Um, to be able to, to transform these kind of API requests into something that is reliable infrastructure, right? And there, there's a lot to that. Uh, especially when networking gets in the mix, when storage gets in the mix, uh, there are a whole bunch of like complicated steps that need to be done, um, at Joyent. [00:33:59] Bryan: Um, we, in part because of the history of the company and like, look. This, this just is not gonna sound good, but it just is what it is and I'm just gonna own it. We did it all in Node, um, at Joyent, which I, I, I know it sounds really right now, just sounds like, well, you, you built it with Tinker Toys. You Okay. [00:34:18] Bryan: Uh, did, did you think it was, you built the skyscraper with Tinker Toys? Uh, it's like, well, okay. We actually, we had greater aspirations for the Tinker Toys once upon a time, and it was better than, you know, than Twisted Python and Event Machine from Ruby, and we weren't gonna do it in Java. All right. [00:34:32] Bryan: So, but let's just say that that experiment, uh, that experiment did ultimately end in a predictable fashion. Um, and, uh, we, we decided that maybe Node was not gonna be the best decision long term. Um, Joyent was the company behind node js. Uh, back in the day, Ryan Dahl worked for Joyent. Uh, and then, uh, then we, we, we. [00:34:53] Bryan: Uh, landed that in a foundation in about, uh, what, 2015, something like that. Um, and began to consider our world beyond, uh, beyond Node. Rust at Oxide [00:35:04] Bryan: A big tool that we had in the arsenal when we started Oxide is Rust. Um, and so indeed the name of the company is, is a tip of the hat to the language that we were pretty sure we were gonna be building a lot of stuff in. [00:35:16] Bryan: Namely Rust. And, uh, rust is, uh, has been huge for us, a very important revolution in programming languages. you know, there, there, there have been different people kind of coming in at different times and I kinda came to Rust in what I, I think is like this big kind of second expansion of rust in 2018 when a lot of technologists were think, uh, sick of Node and also sick of Go. [00:35:43] Bryan: And, uh, also sick of C++. And wondering is there gonna be something that gives me the, the, the performance, of that I get outta C. The, the robustness that I can get out of a C program but is is often difficult to achieve. but can I get that with kind of some, some of the velocity of development, although I hate that term, some of the speed of development that you get out of a more interpreted language. [00:36:08] Bryan: Um, and then by the way, can I actually have types, I think types would be a good idea? Uh, and rust obviously hits the sweet spot of all of that. Um, it has been absolutely huge for us. I mean, we knew when we started the company again, oxide, uh, we were gonna be using rust in, in quite a, quite a. Few places, but we weren't doing it by fiat. [00:36:27] Bryan: Um, we wanted to actually make sure we're making the right decision, um, at, at every different, at every layer. Uh, I think what has been surprising is the sheer number of layers at which we use rust in terms of, we've done our own embedded firmware in rust. We've done, um, in, in the host operating system, which is still largely in C, but very big components are in rust. [00:36:47] Bryan: The hypervisor Propolis is all in rust. Uh, and then of course the control plane, that distributed system on that is all in rust. So that was a very important thing that we very much did not need to build ourselves. We were able to really leverage, uh, a terrific community. Um. We were able to use, uh, and we've done this at Joyent as well, but at Oxide, we've used Illumos as a hostos component, which, uh, our variant is called Helios. [00:37:11] Bryan: Um, we've used, uh, bhyve um, as a, as as that kind of internal hypervisor component. we've made use of a bunch of different open source components to build this thing, um, which has been really, really important for us. Uh, and open source components that didn't exist even like five years prior. [00:37:28] Bryan: That's part of why we felt that 2019 was the right time to start the company. And so we started Oxide. The problems building a control plane in Node [00:37:34] Jeremy: You had mentioned that at Joyent, you had tried to build this in, in Node. What were the, what were the, the issues or the, the challenges that you had doing that? [00:37:46] Bryan: Oh boy. Yeah. again, we, I kind of had higher hopes in 2010, I would say. When we, we set on this, um, the, the, the problem that we had just writ large, um. JavaScript is really designed to allow as many people on earth to write a program as possible, which is good. I mean, I, I, that's a, that's a laudable goal. [00:38:09] Bryan: That is the goal ultimately of such as it is of JavaScript. It's actually hard to know what the goal of JavaScript is, unfortunately, because Brendan Ike never actually wrote a book. so that there is not a canonical, you've got kind of Doug Crockford and other people who've written things on JavaScript, but it's hard to know kind of what the original intent of JavaScript is. [00:38:27] Bryan: The name doesn't even express original intent, right? It was called Live Script, and it was kind of renamed to JavaScript during the Java Frenzy of the late nineties. A name that makes no sense. There is no Java in JavaScript. that is kind of, I think, revealing to kind of the, uh, the unprincipled mess that is JavaScript. [00:38:47] Bryan: It, it, it's very pragmatic at some level, um, and allows anyone to, it makes it very easy to write software. The problem is it's much more difficult to write really rigorous software. So, uh, and this is what I should differentiate JavaScript from TypeScript. This is really what TypeScript is trying to solve. [00:39:07] Bryan: TypeScript is like. How can, I think TypeScript is a, is a great step forward because TypeScript is like, how can we bring some rigor to this? Like, yes, it's great that it's easy to write JavaScript, but that's not, we, we don't wanna do that for Absolutely. I mean that, that's not the only problem we solve. [00:39:23] Bryan: We actually wanna be able to write rigorous software and it's actually okay if it's a little harder to write rigorous software that's actually okay if it gets leads to, to more rigorous artifacts. Um, but in JavaScript, I mean, just a concrete example. You know, there's nothing to prevent you from referencing a property that doesn't actually exist in JavaScript. [00:39:43] Bryan: So if you fat finger a property name, you are relying on something to tell you. By the way, I think you've misspelled this because there is no type definition for this thing. And I don't know that you've got one that's spelled correctly, one that's spelled incorrectly, that's often undefined. And then the, when you actually go, you say you've got this typo that is lurking in your what you want to be rigorous software. [00:40:07] Bryan: And if you don't execute that code, like you won't know that's there. And then you do execute that code. And now you've got a, you've got an undefined object. And now that's either gonna be an exception or it can, again, depends on how that's handled. It can be really difficult to determine the origin of that, of, of that error, of that programming. [00:40:26] Bryan: And that is a programmer error. And one of the big challenges that we had with Node is that programmer errors and operational errors, like, you know, I'm out of disk space as an operational error. Those get conflated and it becomes really hard. And in fact, I think the, the language wanted to make it easier to just kind of, uh, drive on in the event of all errors. [00:40:53] Bryan: And it's like, actually not what you wanna do if you're trying to build a reliable, robust system. So we had. No end of issues. [00:41:01] Bryan: We've got a lot of experience developing rigorous systems, um, again coming out of operating systems development and so on. And we want, we brought some of that rigor, if strangely, to JavaScript. So one of the things that we did is we brought a lot of postmortem, diagnos ability and observability to node. [00:41:18] Bryan: And so if, if one of our node processes. Died in production, we would actually get a core dump from that process, a core dump that we could actually meaningfully process. So we did a bunch of kind of wild stuff. I mean, actually wild stuff where we could actually make sense of the JavaScript objects in a binary core dump. JavaScript values ease of getting started over robustness [00:41:41] Bryan: Um, and things that we thought were really important, and this is the, the rest of the world just looks at this being like, what the hell is this? I mean, it's so out of step with it. The problem is that we were trying to bridge two disconnected cultures of one developing really. Rigorous software and really designing it for production, diagnosability and the other, really designing it to software to run in the browser and for anyone to be able to like, you know, kind of liven up a webpage, right? [00:42:10] Bryan: Is kinda the origin of, of live script and then JavaScript. And we were kind of the only ones sitting at the intersection of that. And you begin when you are the only ones sitting at that kind of intersection. You just are, you're, you're kind of fighting a community all the time. And we just realized that we are, there were so many things that the community wanted to do that we felt are like, no, no, this is gonna make software less diagnosable. It's gonna make it less robust. The NodeJS split and why people left [00:42:36] Bryan: And then you realize like, I'm, we're the only voice in the room because we have got, we have got desires for this language that it doesn't have for itself. And this is when you realize you're in a bad relationship with software. It's time to actually move on. And in fact, actually several years after, we'd already kind of broken up with node. [00:42:55] Bryan: Um, and it was like, it was a bit of an acrimonious breakup. there was a, uh, famous slash infamous fork of node called IoJS Um, and this was viewed because people, the community, thought that Joyent was being what was not being an appropriate steward of node js and was, uh, not allowing more things to come into to, to node. [00:43:19] Bryan: And of course, the reason that we of course, felt that we were being a careful steward and we were actively resisting those things that would cut against its fitness for a production system. But it's some way the community saw it and they, and forked, um, and, and I think the, we knew before the fork that's like, this is not working and we need to get this thing out of our hands. Platform is a reflection of values node summit talk [00:43:43] Bryan: And we're are the wrong hands for this? This needs to be in a foundation. Uh, and so we kind of gone through that breakup, uh, and maybe it was two years after that. That, uh, friend of mine who was um, was running the, uh, the node summit was actually, it's unfortunately now passed away. Charles er, um, but Charles' venture capitalist great guy, and Charles was running Node Summit and came to me in 2017. [00:44:07] Bryan: He is like, I really want you to keynote Node Summit. And I'm like, Charles, I'm not gonna do that. I've got nothing nice to say. Like, this is the, the, you don't want, I'm the last person you wanna keynote. He's like, oh, if you have nothing nice to say, you should definitely keynote. You're like, oh God, okay, here we go. [00:44:22] Bryan: He's like, no, I really want you to talk about, like, you should talk about the Joyent breakup with NodeJS. I'm like, oh man. [00:44:29] Bryan: And that led to a talk that I'm really happy that I gave, 'cause it was a very important talk for me personally. Uh, called Platform is a reflection of values and really looking at the values that we had for Node and the values that Node had for itself. And they didn't line up. [00:44:49] Bryan: And the problem is that the values that Node had for itself and the values that we had for Node are all kind of positives, right? Like there's nobody in the node community who's like, I don't want rigor, I hate rigor. It's just that if they had the choose between rigor and making the language approachable. [00:45:09] Bryan: They would choose approachability every single time. They would never choose rigor. And, you know, that was a, that was a big eye-opener. I do, I would say, if you watch this talk. [00:45:20] Bryan: because I knew that there's, like, the audience was gonna be filled with, with people who, had been a part of the fork in 2014, I think was the, the, the, the fork, the IOJS fork. And I knew that there, there were, there were some, you know, some people that were, um, had been there for the fork and. [00:45:41] Bryan: I said a little bit of a trap for the audience. But the, and the trap, I said, you know what, I, I kind of talked about the values that we had and the aspirations we had for Node, the aspirations that Node had for itself and how they were different. [00:45:53] Bryan: And, you know, and I'm like, look in, in, in hindsight, like a fracture was inevitable. And in 2014 there was finally a fracture. And do people know what happened in 2014? And if you, if you, you could listen to that talk, everyone almost says in unison, like IOJS. I'm like, oh right. IOJS. Right. That's actually not what I was thinking of. [00:46:19] Bryan: And I go to the next slide and is a tweet from a guy named TJ Holloway, Chuck, who was the most prolific contributor to Node. And it was his tweet also in 2014 before the fork, before the IOJS fork explaining that he was leaving Node and that he was going to go. And you, if you turn the volume all the way up, you can hear the audience gasp. [00:46:41] Bryan: And it's just delicious because the community had never really come, had never really confronted why TJ left. Um, there. And I went through a couple folks, Felix, bunch of other folks, early Node folks. That were there in 2010, were leaving in 2014, and they were going to go primarily, and they were going to go because they were sick of the same things that we were sick of. [00:47:09] Bryan: They, they, they had hit the same things that we had hit and they were frustrated. I I really do believe this, that platforms do reflect their own values. And when you are making a software decision, you are selecting value. [00:47:26] Bryan: You should select values that align with the values that you have for that software. That is, those are, that's way more important than other things that people look at. I think people look at, for example, quote unquote community size way too frequently, community size is like. Eh, maybe it can be fine. [00:47:44] Bryan: I've been in very large communities, node. I've been in super small open source communities like AUMs and RAs, a bunch of others. there are strengths and weaknesses to both approaches just as like there's a strength to being in a big city versus a small town. Me personally, I'll take the small community more or less every time because the small community is almost always self-selecting based on values and just for the same reason that I like working at small companies or small teams. [00:48:11] Bryan: There's a lot of value to be had in a small community. It's not to say that large communities are valueless, but again, long answer to your question of kind of where did things go south with Joyent and node. They went south because the, the values that we had and the values the community had didn't line up and that was a very educational experience, as you might imagine. [00:48:33] Jeremy: Yeah. And, and given that you mentioned how, because of those values, some people moved from Node to go, and in the end for much of what oxide is building. You ended up using rust. What, what would you say are the, the values of go and and rust, and how did you end up choosing Rust given that. Go's decisions regarding generics, versioning, compilation speed priority [00:48:56] Bryan: Yeah, I mean, well, so the value for, yeah. And so go, I mean, I understand why people move from Node to Go, go to me was kind of a lateral move. Um, there were a bunch of things that I, uh, go was still garbage collected, um, which I didn't like. Um, go also is very strange in terms of there are these kind of like. [00:49:17] Bryan: These autocratic kind of decisions that are very bizarre. Um, there, I mean, generics is kind of a famous one, right? Where go kind of as a point of principle didn't have generics, even though go itself actually the innards of go did have generics. It's just that you a go user weren't allowed to have them. [00:49:35] Bryan: And you know, it's kind of, there was, there was an old cartoon years and years ago about like when a, when a technologist is telling you that something is technically impossible, that actually means I don't feel like it. Uh, and there was a certain degree of like, generics are technically impossible and go, it's like, Hey, actually there are. [00:49:51] Bryan: And so there was, and I just think that the arguments against generics were kind of disingenuous. Um, and indeed, like they ended up adopting generics and then there's like some super weird stuff around like, they're very anti-assertion, which is like, what, how are you? Why are you, how is someone against assertions, it doesn't even make any sense, but it's like, oh, nope. [00:50:10] Bryan: Okay. There's a whole scree on it. Nope, we're against assertions and the, you know, against versioning. There was another thing like, you know, the Rob Pike has kind of famously been like, you should always just run on the way to commit. And you're like, does that, is that, does that make sense? I mean this, we actually built it. [00:50:26] Bryan: And so there are a bunch of things like that. You're just like, okay, this is just exhausting and. I mean, there's some things about Go that are great and, uh, plenty of other things that I just, I'm not a fan of. Um, I think that the, in the end, like Go cares a lot about like compile time. It's super important for Go Right? [00:50:44] Bryan: Is very quick, compile time. I'm like, okay. But that's like compile time is not like, it's not unimportant, it's doesn't have zero importance. But I've got other things that are like lots more important than that. Um, what I really care about is I want a high performing artifact. I wanted garbage collection outta my life. Don't think garbage collection has good trade offs [00:51:00] Bryan: I, I gotta tell you, I, I like garbage collection to me is an embodiment of this like, larger problem of where do you put cognitive load in the software development process. And what garbage collection is saying to me it is right for plenty of other people and the software that they wanna develop. [00:51:21] Bryan: But for me and the software that I wanna develop, infrastructure software, I don't want garbage collection because I can solve the memory allocation problem. I know when I'm like, done with something or not. I mean, it's like I, whether that's in, in C with, I mean it's actually like, it's really not that hard to not leak memory in, in a C base system. [00:51:44] Bryan: And you can. give yourself a lot of tooling that allows you to diagnose where memory leaks are coming from. So it's like that is a solvable problem. There are other challenges with that, but like, when you are developing a really sophisticated system that has garbage collection is using garbage collection. [00:51:59] Bryan: You spend as much time trying to dork with the garbage collector to convince it to collect the thing that you know is garbage. You are like, I've got this thing. I know it's garbage. Now I need to use these like tips and tricks to get the garbage collector. I mean, it's like, it feels like every Java performance issue goes to like minus xx call and use the other garbage collector, whatever one you're using, use a different one and using a different, a different approach. [00:52:23] Bryan: It's like, so you're, you're in this, to me, it's like you're in the worst of all worlds where. the reason that garbage collection is helpful is because the programmer doesn't have to think at all about this problem. But now you're actually dealing with these long pauses in production. [00:52:38] Bryan: You're dealing with all these other issues where actually you need to think a lot about it. And it's kind of, it, it it's witchcraft. It, it, it's this black box that you can't see into. So it's like, what problem have we solved exactly? And I mean, so the fact that go had garbage collection, it's like, eh, no, I, I do not want, like, and then you get all the other like weird fatwahs and you know, everything else. [00:52:57] Bryan: I'm like, no, thank you. Go is a no thank you for me, I, I get it why people like it or use it, but it's, it's just, that was not gonna be it. Choosing Rust [00:53:04] Bryan: I'm like, I want C. but I, there are things I didn't like about C too. I was looking for something that was gonna give me the deterministic kind of artifact that I got outta C. But I wanted library support and C is tough because there's, it's all convention. you know, there's just a bunch of other things that are just thorny. And I remember thinking vividly in 2018, I'm like, well, it's rust or bust. Ownership model, algebraic types, error handling [00:53:28] Bryan: I'm gonna go into rust. And, uh, I hope I like it because if it's not this, it's gonna like, I'm gonna go back to C I'm like literally trying to figure out what the language is for the back half of my career. Um, and when I, you know, did what a lot of people were doing at that time and people have been doing since of, you know, really getting into rust and really learning it, appreciating the difference in the, the model for sure, the ownership model people talk about. [00:53:54] Bryan: That's also obviously very important. It was the error handling that blew me away. And the idea of like algebraic types, I never really had algebraic types. Um, and the ability to, to have. And for error handling is one of these really, uh, you, you really appreciate these things where it's like, how do you deal with a, with a function that can either succeed and return something or it can fail, and the way c deals with that is bad with these kind of sentinels for errors. [00:54:27] Bryan: And, you know, does negative one mean success? Does negative one mean failure? Does zero mean failure? Some C functions, zero means failure. Traditionally in Unix, zero means success. And like, what if you wanna return a file descriptor, you know, it's like, oh. And then it's like, okay, then it'll be like zero through positive N will be a valid result. [00:54:44] Bryan: Negative numbers will be, and like, was it negative one and I said airo, or is it a negative number that did not, I mean, it's like, and that's all convention, right? People do all, all those different things and it's all convention and it's easy to get wrong, easy to have bugs, can't be statically checked and so on. Um, and then what Go says is like, well, you're gonna have like two return values and then you're gonna have to like, just like constantly check all of these all the time. Um, which is also kind of gross. Um, JavaScript is like, Hey, let's toss an exception. If, if we don't like something, if we see an error, we'll, we'll throw an exception. [00:55:15] Bryan: There are a bunch of reasons I don't like that. Um, and you look, you'll get what Rust does, where it's like, no, no, no. We're gonna have these algebra types, which is to say this thing can be a this thing or that thing, but it, but it has to be one of these. And by the way, you don't get to process this thing until you conditionally match on one of these things. [00:55:35] Bryan: You're gonna have to have a, a pattern match on this thing to determine if it's a this or a that, and if it in, in the result type that you, the result is a generic where it's like, it's gonna be either the thing that you wanna return. It's gonna be an okay that contains the thing you wanna return, or it's gonna be an error that contains your error and it forces your code to deal with that. [00:55:57] Bryan: And what that does is it shifts the cognitive load from the person that is operating this thing in production to the, the actual developer that is in development. And I think that that, that to me is like, I, I love that shift. Um, and that shift to me is really important. Um, and that's what I was missing, that that's what Rust gives you. [00:56:23] Bryan: Rust forces you to think about your code as you write it, but as a result, you have an artifact that is much more supportable, much more sustainable, and much faster. Prefer to frontload cognitive load during development instead of at runtime [00:56:34] Jeremy: Yeah, it sounds like you would rather take the time during the development to think about these issues because whether it's garbage collection or it's error handling at runtime when you're trying to solve a problem, then it's much more difficult than having dealt with it to start with. [00:56:57] Bryan: Yeah, absolutely. I, and I just think that like, why also, like if it's software, if it's, again, if it's infrastructure software, I mean the kinda the question that you, you should have when you're writing software is how long is this software gonna live? How many people are gonna use this software? Uh, and if you are writing an operating system, the answer for this thing that you're gonna write, it's gonna live for a long time. [00:57:18] Bryan: Like, if we just look at plenty of aspects of the system that have been around for a, for decades, it's gonna live for a long time and many, many, many people are gonna use it. Why would we not expect people writing that software to have more cognitive load when they're writing it to give us something that's gonna be a better artifact? [00:57:38] Bryan: Now conversely, you're like, Hey, I kind of don't care about this. And like, I don't know, I'm just like, I wanna see if this whole thing works. I've got, I like, I'm just stringing this together. I don't like, no, the software like will be lucky if it survives until tonight, but then like, who cares? Yeah. Yeah. [00:57:52] Bryan: Gar garbage clock. You know, if you're prototyping something, whatever. And this is why you really do get like, you know, different choices, different technology choices, depending on the way that you wanna solve the problem at hand. And for the software that I wanna write, I do like that cognitive load that is upfront. With LLMs maybe you can get the benefit of the robust artifact with less cognitive load [00:58:10] Bryan: Um, and although I think, I think the thing that is really wild that is the twist that I don't think anyone really saw coming is that in a, in an LLM age. That like the cognitive load upfront almost needs an asterisk on it because so much of that can be assisted by an LLM. And now, I mean, I would like to believe, and maybe this is me being optimistic, that the the, in the LLM age, we will see, I mean, rust is a great fit for the LLMH because the LLM itself can get a lot of feedback about whether the software that's written is correct or not. [00:58:44] Bryan: Much more so than you can for other environments. [00:58:48] Jeremy: Yeah, that is a interesting point in that I think when people first started trying out the LLMs to code, it was really good at these maybe looser languages like Python or JavaScript, and initially wasn't so good at something like Rust. But it sounds like as that improves, if. It can write it then because of the rigor or the memory management or the error handling that the language is forcing you to do, it might actually end up being a better choice for people using LLMs. [00:59:27] Bryan: absolutely. I, it, it gives you more certainty in the artifact that you've delivered. I mean, you know a lot about a Rust program that compiles correctly. I mean, th there are certain classes of errors that you don't have, um, that you actually don't know on a C program or a GO program or a, a JavaScript program. [00:59:46] Bryan: I think that's gonna be really important. I think we are on the cusp. Maybe we've already seen it, this kind of great bifurcation in the software that we writ

Our Global Commodities Strategist Martijn Rats discusses the geopolitical drivers behind the recent spike in oil prices and outlines four Iran scenarios.Read more insights from Morgan Stanley.----- Transcript -----Welcome to Thoughts on the Market. I'm Martijn Rats, Morgan Stanley's Global Commodities Strategist.Today – what's fueling the latest oil market rally.It's Thursday, February 26th, at 3pm in London.What happens when oil prices jump, even though there's no actual shortage of oil? That's the situation we're in right now. Tensions between the U.S. and Iran have escalated again. Naturally, markets are paying attention.Over the past week, Brent crude rose about $3 to around $72 per barrel. WTI climbed into the mid-$60s. Shipping costs surged. And traders have started paying a premium for protection against a sudden oil spike – the levels we haven't seen since the early days of the Ukrainian invasion.But here's the key point: there's no clear evidence that global oil supply has tightened. Exports are still flowing. Tankers are still moving. And some near-term indicators of physical tightness have actually softened. When oil is truly scarce, buyers scramble for immediate barrels and short-term prices spike relative to future delivery. Instead, those spreads have narrowed, and physical premiums have eased.This isn't a supply shock. It's a risk premium. In simple terms, investors are buying insurance. So what could happen next? We see four broad scenarios.Before I outline them though, here's something we do not see as a core case: a prolonged closure of the Strait of Hormuz. Roughly 15 million barrels per day of crude and another 5 million of refined product moves through that corridor. A sustained shutdown would be enormously disruptive. But we think the probability is very low.Now coming back to our four scenarios. The first is straightforward. A negotiated settlement; conflict is avoided. Iranian exports continue and shipping lanes remain open. In that scenario, what unwinds is the geopolitical risk premium – which we estimate at roughly $7 to $9 per barrel. If that fades, Brent could drift back to the low-to-mid $60s, similar to past episodes where prices spiked on fear and then retraced once supply proves unaffected.Second, we could see short-lived frictions – shipping delays, higher insurance costs, temporary logistical issues. That might remove a few hundred thousand barrels per day for, say, a few weeks.. Prices could briefly spike into the $75–80 range. But balancing forces would kick in relatively quickly. For example, China has been building inventories at a steady pace. At higher prices, that stockbuilding would likely slow, helping offset temporary disruptions. That points to some further upside in prices – but then normalization.The third scenario is more serious, but still contained: localized export losses of perhaps 1 to 1.5 million barrels per day for a month or two. Prices would stay elevated longer, but spare capacity and demand adjustments could eventually stabilize the market.Now our last scenario is the more serious and considers a potential shipping shock. The real risk here isn't wells shutting down – it's shipping disruption. Global trade of crude oil depends on efficient tanker movement. If transit times were extended even modestly, effective shipping capacity could fall sharply, creating what amounts to a temporary tightening of about 2 to 3 million barrels per day – or about 6 percent of global seaborne supply. That is a logistics shock, not a production outage – but it would push prices toward early-2022-type levels, at least briefly.Now let's zoom out. Beyond geopolitics, the fundamentals look weak. OPEC+ supply is rising, and our forecasts show a sizable surplus building in 2026. Even if some of that oil ends up in China's stockpiles, a lot would still likely flow into core OECD inventories. Historically, when the market looks like this, prices tend to fall, not rise.Which brings us back to the central point. Oil isn't rallying because the world has run out of barrels. It's rallying because markets are pricing geopolitical risk. And unless that risk turns into actual, sustained disruption, insurance premiums tend to expire.Thank you for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.This podcast references jurisdiction(s) or person(s) which may be the subject of economic sanctions. Readers are solely responsible for ensuring that their investment activities are carried out in compliance with applicable laws.

Are you looking to save time, make money, and start winning with less risk? Then head to https://www.ovtlyr.com.A rare economic indicator just flashed a warning… but does that actually mean the stock market is about to crash?In this video, we break down a viral market prediction claiming a powerful economic signal has collapsed to levels not seen since before the 2000 dot-com bubble and the 2008 financial crisis. The indicator compares the Leading Economic Index to the Coincident Economic Index. In simple terms, it measures where the economy is expected to go versus where it is right now.Historically, when this ratio falls off a cliff, trouble tends to follow. But here's the big question. If this signal has been in free fall for years… why is the stock market still climbing?Instead of buying into fear-driven headlines, this video challenges the narrative. Are we looking at a legitimate recession warning, or another doom cycle designed to grab attention?Here's what gets covered:✅ What the Leading vs Coincident Index actually measures✅ Why fear spreads so fast in financial media✅ What SPY trend signals are showing right now✅ How sector breadth reveals underlying market strength✅ When it makes sense to sit in cash instead of forcing tradesUsing OVTLYR's trading framework, the focus shifts from emotional reactions to structured decision-making. Bullish trends, bearish signals, sideways markets, fear and greed readings, and sector rotation all matter. If the market is not aligned, aggressive positioning can do more harm than good.This is about staying market-aware without panic selling. It is about understanding risk, timing, and capital preservation in volatile conditions.If you care about stock market analysis, recession indicators, SPY breakdowns, ETF strategy, and disciplined trading systems, this conversation will sharpen how you interpret economic headlines.Subscribe to OVTLYR for disciplined trading strategies that actually make sense.

This week's edition Copeland's Corner, Brian is joined by comedians Hal Sparks, Cathy Ladman, and producer Tom Sawyer to discuss the controversial State of the Union address and current political landscape. The panel debates Democratic lawmakers' decision to boycott the speech, with Sparks arguing that diverse responses from Democrats reflect their broad coalition rather than disrespect. The conversation explores Trump's historically low approval ratings (26% with independents), mass deportation policies, immigration lies, and the disconnect between campaign promises and reality. They discuss the recently released Epstein files, congressional settlement disclosure proposals, and growing accountability movements both domestically and internationally. The panel also touches on Republican hypocrisy, MAGA's fracturing base, the role of propaganda machines, and predictions for the 2026 midterms. They debate potential 2028 matchups and what a Democratic Congress should prioritize. The episode concludes with lighter discussions about celebrity GoFundMe controversies and personal plugs for the panelists' upcoming shows. -- Connect with our Guests... #HalSparks - HalSparks.com & @HalSparks on Instagram #CathyLadman - Website  and @CathyLadman1 on Instagram   #TomSawyer - TomSawyerVoices.com   #StateOfTheUnion #PoliticalPodcast #Trump2025 #DemocraticResponse #EpsteinFiles #MAGA #Midterms2026 #Immigration  #Resist #Democracy #PoliticalDiscussion #BlueWave2026 #BrianCopeland #CopelandsCorner #HeadlinersOnTheHeadlines#CopelandUnfiltered #ComedyCommentary #PodcastersOfYouTube #ComicsOnAir #TalkPodcast#PoliticalHumor #PoliticalPodcast #HotTalkTopicsPodcast Hosted by the Bay Area's own Brian Copeland, a longtime Actor, Comedian, Author, Playwright, Television and Radio Personality. Brian and The Copeland's Corner Network of content creators provide a weekly mashup of news, interviews and comedy.--For more from Brian...Visit his website: www.BrianCopeland.comFollow on Social Media: Instagram - @CopelandsCorner & @BrianCopieEmail: BrianCopelandShow@Gmail.com --Copeland's Corner is Created, Hosted, & Executive Produced by Brian Copeland. This Show is Recorded & Mixed by Charlene Goto with Go-To Productions. Visit Go-To Productions for all your Podcast & Media needs.Our Booking Producer is Tom Sawyer. For any show inquiries, please email CopelandsCornerPodcast@gmail.com Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

On this episode, Travis Chappell is joined by his producer Eric for a live reaction and breakdown of a recent housing policy proposal from Donald Trump aimed at banning institutional investors from buying single-family homes. They react to a viral breakdown from Graham Stephan and unpack what's actually happening beneath the headlines—from inventory shortages and interest rate lock-in to zoning laws and Wall Street narratives. The conversation blends humor, impressions, and real analysis as they explore whether banning big investors would actually make homes more affordable—or accidentally make things worse. On this episode we talk about: Trump's proposed ban on institutional investors buying single-family homes Whether Wall Street is really driving up housing prices The difference between mega-corporate landlords and mom-and-pop investors How low interest rates created “locked-in” homeowners and inventory shortages Real solutions for affordability: zoning reform, tax incentives, modular housing, and permitting reform Top 3 Takeaways Institutional investors make up a far smaller percentage of home purchases than most headlines suggest—inventory shortages and policy issues may be the bigger drivers. Historically low interest rates created a lock-in effect, discouraging homeowners from selling and reducing available supply. If we truly want affordable housing, reforming zoning laws, streamlining permits, and incentivizing new construction may be more effective than banning investors. Notable Quotes "It's not just about Wall Street—it's a perfect storm of low rates, zoning issues, and supply shortages." "If you own a piece of the land where you live, you tend to care more about your community." "Money only solves your money problems—but it's easier to solve the rest of your problems with money in the bank." Connect with Travis Chappell: LinkedIn: https://www.linkedin.com/in/travischappell Instagram: https://www.instagram.com/travischappell Other: https://travischappell.com  Travis Makes Money is made possible by High Level – the All-In-One Sales & Marketing Platform built for agencies, by an agency.  Capture leads, nurture them, and close more deals—all from one powerful platform.  Get an extended free trial at gohighlevel.com/travis Learn more about your ad choices. Visit megaphone.fm/adchoices

Ryan Estes sits down with Don Lucoff, founder of DL Media and Artistic Director of the Denver Jazz Fest. Don has spent nearly four decades in jazz as a publicist, producer, and festival programmer, working with legendary artists and labels like Impulse and Blue Note. Now he is helping build a national caliber jazz festival right here in Denver. The State of Jazz Don reflects on how dramatically jazz media coverage has changed. There was a time when major outlets regularly reviewed jazz records and featured artists on national television. Today, most of that coverage has vanished. Yet jazz itself has not disappeared. It continues to shape modern music. Artists like Kendrick Lamar have collaborated with jazz musicians such as Kamasi Washington and Robert Glasper. The influence is everywhere. As Don puts it, jazz can sell everything but itself. It is deeply embedded in popular culture, even if it is no longer center stage in mainstream media. Why Denver Is a Jazz City Denver has a stronger jazz pedigree than many people realize. The Front Range is home to major jazz education programs at the University of Northern Colorado, University of Denver, University of Colorado Boulder, Metropolitan State University of Denver, and Colorado State University. These institutions consistently produce world class players. Historically, Five Points was known as the Harlem of the West, a vital stop for touring jazz musicians crossing the country. Add the Beat Generation passing through town and you have a city that has long been part of America's cultural and musical story. Inside Denver Jazz Fest The Denver Jazz Fest spans 15 venues across Denver and includes performances in Boulder County. It blends national headliners with respected local artists, creating a citywide celebration. This year's lineup includes Pat Metheny, Branford Marsalis, Bob James, and John Beasley. The festival also honors the centenary of Miles Davis and John Coltrane with special tribute performances, including a presentation of A Love Supreme by Denver saxophonist Keith Oxman. The goal is inclusivity and accessibility. Whether you are a lifelong jazz fan or just jazz curious, there is a show for you. Where to Start Listening For new listeners, Don recommends classics from the Blue Note catalog such as Lee Morgan's Search for the New Land, Herbie Hancock's Maiden Voyage, Wayne Shorter's Speak No Evil, and Grant Green's Idle Moments. From Impulse, he points to John Coltrane's Crescent and A Love Supreme, Alice Coltrane's Journey in Satchidananda, and Pharoah Sanders' Thembi. These records are not homework. They are entry points into a vast and vibrant tradition. Final Takeaway Don's career proves one thing. You may not get rich in jazz, but you can build a life around passion, community, and great music. Denver Jazz Fest is more than a series of concerts. It is a statement that this city values artistry, education, and cultural history. Learn more and get tickets at denverjazz.org. See you there.

Spiritual Libertarians and the “Not Group”: Inside Independent Mormon Fundamentalism I sat down with Justin Francom for a deep dive into his “not group,” a unique, largely misunderstood faction of Mormon fundamentalism. Francom sheds light on a fiercely independent community of believers who have built their own temple and completely rejected traditional authoritarian hierarchies. https://youtu.be/1B0qjVPxlcM Don't miss our other conversations on Mormon fundamentalism: https://gospeltangents.com/denominations/fundamentalim/ Copyright © 2026 Gospel Tangents All Rights Reserved Award-winning authors Rejecting the “One Man” Doctrine At the heart of this Missouri movement is a complete rejection of the “One Man” doctrine—the belief that a single leader holds all the keys and dictates the faith. Most fundamentalist groups trace their priesthood to an 1886 meeting with John Taylor, but Francom notes that true authority actually stems from the ordinance of the Second Anointing. Joseph Musser, a prominent early fundamentalist, realized that this specific ordinance—not a formal church structure—was the key to preserving the priesthood. The Second Anointing confers the “fullness of the priesthood,” allowing individuals to perform sealings. According to Francom's reading of Section 132 of the Doctrine and Covenants, this power is conferred strictly “one at a time.” Historically, early temple presidents even coordinated between the St. George and Logan temples to ensure these ordinances were performed sequentially, never simultaneously, to maintain this sacred symbolism. Thompsonite Connection How did this specific priesthood authority reach the independent believers in Missouri? The lineage traces back to Joe Thompson, a former council member of the Apostolic United Brethren (AUB.) Thompson strongly believed in perpetuating the fullness of the priesthood and building temples, which clashed with the leadership style of Owen Allred, who wanted to consolidate power and close temples. After being excommunicated from the AUB under allegedly spurious charges, Thompson relocated to Arizona, continuing to administer these ordinances to aligned families. Decades later, a man named Robert LeFever brought this “Thompsonite” priesthood authority from Arizona to a group of independent families gathering in Missouri. The Missouri “Not Group” The community in Missouri playfully refers to itself as a “not-group” made up of “spiritually libertarians.” They are a hodgepodge of fundamentalist refugees—exiles from the AUB, Centennial Park, and even former mainstream LDS converts. Having witnessed the rampant abuse of centralized power in other sects, they prefer to operate as independent families working together without a singular boss. Driven by a 40-year-old prophetic vision, these independent families successfully built and dedicated a beautiful temple in Missouri, complete with a stunning echoing star dome in the Celestial room. Their temple work truly flourished once LeFever arrived to administer the fullness of the priesthood. The “Application Layer” of Faith As a computer scientist, Francom beautifully summarizes this decentralized theology by comparing church organization to software. He views worship culture as the “application layer” of faith. Just as the various branches of the Eastern Orthodox Church operate independently with different styles but maintain the same core authority, Mormon factions can worship differently too. Whether a congregation allows spontaneous scripture commentary, uses a tea kettle for the sacrament, or practices loud Pentecostal-style worship, Francom believes it is all perfectly valid—as long as the core priesthood ordinances remain pure and intact. Ultimately, this community proves that for some, faith isn’t about swearing allegiance to one man, but rather preserving sacred ordinances and working together as equals. What are your thoughts about this “not group?” Have you been to the Missouri Temple? Don't miss our other conversations on Mormon fundamentalism: https://gospeltangents.com/denominations/fundamentalim/ Copyright © 2026 Gospel Tangents All Rights Reserved Award-winning authors

The big breaking news of the day is Sidney Crosby being out for ‘at least' 4 weeks after the lower-body injury suffered last week in the Olympics. Does this ruin the Penguins' season? Historically, Evgeni Malkin has stepped up big when Crosby has been absent, but can he do that at 39? One of our biggest fans, and a massive Penguins fan, told us he was ‘spiraling' with this news. For as fun as this season has been and as fun as the US winning a gold medal was – was it all worth it? The guys don't think we should just accept the fact that the Olympics could very well cost the Penguins a playoff spot.

The big breaking news of the day is Sidney Crosby being out for ‘at least' 4 weeks after the lower-body injury suffered last week in the Olympics. Does this ruin the Penguins' season? Historically, Evgeni Malkin has stepped up big when Crosby has been absent, but can he do that at 39? One of our biggest fans, and a massive Penguins fan, told us he was ‘spiraling' with this news. For as fun as this season has been and as fun as the US winning a gold medal was – was it all worth it? The guys don't think we should just accept the fact that the Olympics could very well cost the Penguins a playoff spot. Was Sidney Crosby really that close to playing in the Gold Medal game? Former Penguin Tyler Kennedy joined the show. TK reacted to the news of Sidney Crosby being out for ‘at least' a month as the Penguins pursue a playoff spot. Tyler expects Evgeni Malkin to step up, even at 39-years-old, like he has done in the past without Sid. He thinks Kyle Dubas will be aggressive as the trade deadline approaches. Dubas made another trade TK liked yesterday, moving on from one defenseman to acquire another. Tyler said it's very good that Geno got this time off because he's at the age where that is necessary in the middle of the season. Tyler admitted he would give Jack Hughes a standing ovation tomorrow night if he was at the game. TK told us a wild story about an injury he suffered off-the-ice during his career that he had to slyly lie about.

Infusion services make up a roughly $150 billion market in the U.S., and underpin the financial stability of major service lines, especially oncology. Historically, health systems have enjoyed strong volumes, favorable reimbursement, and access to 340B discounts that keep their infusion business profitable. But rising competition, payer and employer driven site of care shifts, and looming policy changes are putting pressure on what many leaders have relied on as a stable, margin accretive business. In this episode, host Abby Burns sits down with Advisory Board expert Chloe Bakst to break down what's actually happening in the infusion market — and why every health system leader should be paying closer attention. Together, they explore how new competitors are capturing leakage you may not even see, how payers and employers are steering patients away from hospital outpatient departments, and how upcoming 340B reforms and Medicare drug price negotiations could reshape the economics of infusion over the next three years. Chloe also shares the strategies forward thinking systems are using to protect their infusion business and prepare for rapidly emerging headwinds. We're here to help: Webinar | The top trends in today's infusion market Tool | Market Scenario Planner Ready-to-Use Resource | Policy Scenario Impact Calculator Expert Insight | The 3 trends reshaping the specialty drug pipeline today Podcast | 270: Service line snapshot: What every health leader needs to know Webinar | Join Optum Advisory experts at this upcoming webinar to learn how optimizing patient access unlocks the value of digital innovations and drives long-term sustainability. Expert Insight | How data-driven risk reduction protects patients and providers A transcript of this episode as well as more information and resources can be found on RadioAdvisory.advisory.com.

Welcome to Episode 170 of Wrestling Tonight, powered by G FUEL and Dick Lazers. Use code TAVERN to save 20 percent at GFUEL.com and DickLazers.com. Acefield Retro and Chad return this week with a focused, comprehensive look at WWE Elimination Chamber: Chicago, and the broader business and legal context surrounding the event as WrestleMania 42 approaches. Elimination Chamber is not simply a February premium live event. The 2026 edition marks WWE's first televised event at the United Center since SummerSlam 1994, the first U.S.-based Elimination Chamber since 2021, and the final structural checkpoint before WrestleMania 42. With title implications and WrestleMania main event positioning attached to multiple matches, this show operates as a pivot point in WWE's calendar. We break down the full card in detail. The World Heavyweight Championship headlines in Chicago as CM Punk defends against Finn Bálor in Punk's hometown. What began as professional respect shifted into hostility after Bálor was excluded from the Royal Rumble match and responded with a direct assault on the champion. Despite reported hesitation from management within storyline, Bálor forced the issue and secured the title match. A Bálor victory would immediately reshape the WrestleMania 42 main event picture. The Women's Intercontinental Championship match between Becky Lynch and AJ Lee is built on competitive imbalance. Since returning, AJ has submitted Becky twice in non-title settings, creating a dynamic where the champion is defending not just a title but her standing within the division. This is less about opportunity and more about restoring hierarchy before WrestleMania season locks into place. Both Elimination Chamber matches will determine WrestleMania challengers. On the men's side, the field includes Drew McIntyre, LA Knight, Sami Zayn, Bron Breakker, and Damian Priest, with one final qualifying spot to be decided on the go-home edition of Raw. Historically, the Chamber has either elevated a rising star or reinforced an established main event presence. With a mix of veteran credibility and emerging power, WWE appears to be actively testing which direction serves WrestleMania best. The women's Chamber features Bayley, Bianca Belair, Liv Morgan, Jade Cargill, and Shayna Baszler, with one final entrant pending. Complicating the stakes is Rhea Ripley's pending WrestleMania decision as Royal Rumble winner. The eventual Chamber victor will not know their WrestleMania opponent until Ripley makes her choice, adding strategic uncertainty to the structure. Beyond the in-ring narrative, we examine WWE's reported restriction of public Elimination Chamber watch parties within the Chicago market. Multiple local venues were allegedly informed they could not host public viewing events. With ticket distribution reportedly below configuration and entry prices exceeding $260, the move appears connected to protecting live gate revenue. We discuss the business rationale, the optics in a historically strong WWE city, and the long-term implications for fan goodwill. We also address the week's most significant off-screen development. Janel Grant appeared publicly at a Connecticut Alliance to End Sexual Violence briefing, where she discussed the impact of non-disclosure agreements in workplace misconduct cases and referenced the NDA central to her lawsuit against WWE and Vince McMahon. Grant spoke about the mental health toll of being publicly identified, her SEC whistleblower status, and directed remarks toward TKO leadership. As WrestleMania season accelerates, we analyze the corporate, legal, and reputational implications for WWE and its parent company. Additionally, reports indicate uncertainty regarding Chris Jericho's AEW contract status, with speculation that his deal may be paused or frozen during his television absence. While AEW has not confirmed details, the timing raises legitimate questions about contract structure, injury clauses, and potential movement in 2026. Inside the Chamber, WrestleMania challengers will be determined. Outside the ring, issues of access, optics, and corporate accountability continue to shape the broader conversation. Episode 170 examines both dimensions with clarity and depth as WrestleMania season moves into its decisive phase. Listen now.      

This is a free preview of a paid episode. To hear more, visit www.latent.spaceFirst speakers for AIE Europe and AIEi Miami have been announced. If you're in Asia/Aus, come by Singapore and Melbourne. AI Engineering is going global!One year ago today, Anthropic launched Claude Code, to not much fanfare:The word of mouth was incredibly strong however, and so we were glad to be one of the first podcasts to invite Boris and Cat on in early May:As we discussed on the pod, all CC usage was API-based and therefore it was ridiculously expensive to do anything. This was then fixed by the team including Claude Code in the Claude Pro plan in early June, and then the virality caused us to make a rare trend call in late June:Now, 6 months on, Doug has just calculated that around 4% of GitHub is written by Claude Code:We talk about how Doug uses Claude Code to do SemiAnalysis work.Memory ManiaIn the second part of this episode, we also check in on Memory Mania, which is going to affect you (yes, you) at home if it hasn't already:Full Episode on YouTubeTimestamps00:00 AI as Junior Analyst00:59 Meet Swyx and Doug03:30 From Value Mule to Semis06:28 Moore's Law Ends Thesis12:02 Claude Code Awakening32:02 Agent Swarms Reality Check32:53 Kimi Swarm Benchmarks37:31 Bots vs Zapier Automation39:44 Claude Code Workflow Setup57:54 AGI Metrics and GDP01:04:48 Railroad CapEx Analogy01:06:00 Funding Bubbles and Demand01:08:11 Agents Replace Work Tools01:13:56 Codex vs Claude Race01:21:15 Microsoft and TPU Strategy01:34:13 TPU Window vs Nvidia01:36:30 HBM Supply Chain Squeeze01:39:41 Memory Shock and CXL01:45:20 Context Rationing Future01:54:37 Writing and Trail LessonsTranscript[00:00:00] AI as Junior Analyst[00:00:00] Doug: This crap makes mistakes all the time. All the time. It is still just like a, like I think of it once again as like a junior analyst, right? The analyst goes and does all this like really pain in the ass information and you bring it all together to make a good decision at the top. Historically what happens is that junior analyst, who I once was, went and gathered all that information, and after doing this enough times, there's a meta level thinking that's happening where it's like, okay, here's what I really understand and how this type of analysis, I'm an expert in, actually I'm very good at, I consistently have a hit rate.[00:00:28] Now I'm the expert, right? I don't think that meta level learning is there yet. We'll see if l ones do it, right? Everyone who's spending one quadrillion dollars in the world thinks it will, it better, it better happen by if you're spending, you know, a trillion dollars and there's not meta level learning.[00:00:44] But for me, in our firm, that massively amplifies everyone who is an expert. ‘cause like you have to still do something that you can just like lop it up. It's very obvious to me. What It's slop.[00:00:59] Meet Swyx and Doug

SEE THE BOYS LIVE - https://punchup.live/samtallent     Sponsors: HIMS - Support the show & get simple, online access to personalized, affordable care with HIMS @ http://hims.com/CHUBBY     Ridge - One thing to pack, five ways to power! Get 10% @ Ridge with code CHUBBY at https://www.Ridge.com/CHUBBY #Ridgepod #sponsored #ad     Chubbies - Chubbies is here to help keep you comfy & looking good year-round. Get 20% off with code chubby at https://www.chubbiesshorts.com/chubby #chubbiespod     PATREON EPISODES: https://www.Patreon.com/chubbybehemoth     This week the boys are all together in Albuquerque. Sam loves city planning now, teaches the fellas about a drinking game he used to play, and has updates about his new roommate. Nathan has been trying a new name for New Mexico, was reminded of the old days post show smokedowns, and doesn't understand having Vh1 but not MTV.     00:00 Poker Coverage 02:26 I Am The Barrel 03:31 He's Been Rotating 05:15 Bunch Of Flips 07:20 Right Next To It 09:21 The Real Wild Card 12:07 Albuquerque Legends 15:07 Here Was The Game 18:15 This One Has Potential 21:35 He Reeks All The Time 23:10 Tent Peg Bundy 24:52 Doing The Peewee 27:53 I Put It In The Dryer 30:51 Snow Poison 32:23 New Addiction 33:49 Delta Is Riding High 36:27 Same Kabuki Theater 39:36 Y2K 41:55 Harry And Tonto 44:04 Doesn't Have The Same Ring To It 45:43 Flashback 47:58 Wasn't Going Down 50:37 Carlos Teaches ABQ Slang 53:37 Feeling A Little Chubbie 57:58 Kinked It 59:29 I Live Next Door 01:02:03 Historically 01:04:30 My God 01:06:56 Always Had Vh1     Nathan Lund and Sam Tallent are Chubby Behemoth   MORE WIDE WORLD: @SamTallent   Pre-Order Sam's New Book - https://www.amazon.com/dp/0593978897/ref=sr_1_1?crid=3I4LOBQ02YIGW&dib=eyJ2IjoiMSJ9.k5eCApJdjwVfn7hSelWi5VdRMlVrzKa4zf68ficcjcg.tZZOiI0nB0n3kkWiGAbidMQy5yUS_MkvmEIaXp-LXjo&dib_tag=se&keywords=sam+tallent+brut&qid=1769522903&sprefix=sam+tallent+,aps,181&sr=8-1&dplnkId=90401c83-a6a0-4ad4-999e-ece570a5d320&nodl=1

9. The Collapse of the US-Canada Friendship The historically strong US-Canada bond fractures under trade disputes and rhetoric, threatening long-term diplomatic and economic relationships. Guest: David Hebert1904 PORT ARTHUR

Chronic disease isn't just caused by what you eat. In this video, uncover the indoor lighting dangers you probably don't know about! Find out how to stop circadian rhythm disruption, melatonin suppression, and other modern lighting health problems.Download Dr. Berg's Free Daily Health Routine: https://drbrg.co/46POGyB0:00 Introduction: Artificial light health effects1:45 Lux explained2:50 Why indoor lighting is bad for your health4:36 Indoor lighting and melatonin suppression4:57 Indoor lighting and sleep7:44 How to improve sleep and reduce circadian rhythm disruptionLight affects the circadian system, which in turn influences your mood, metabolism, hormones, sleep, and more. The circadian rhythm is a clock controlled by light and dark signals. In our modern-day environment, the days are too dim and the nights are too bright. During the day, sunlight is filtered through glass, preventing exposure to UV and infrared light, and at night, we're exposed to LED lights, TVs, phones, and tablets. We're dealing with a lack of contrast! Historically, humans were exposed to significantly more light during the day and minimal light at night. Modern lighting leads to melatonin suppression and affects your sleep and cortisol levels. Most people are not getting the restful sleep that they need. This affects the metabolism, insulin, blood sugar, and mood. Research has shown that bright nighttime light exposure can increase your risk of type 2 diabetes. Increasing sunlight exposure alone can improve your blood sugar, while evening bright light exposure can worsen it. Constant lighting is even considered psychologically harmful. Humans have evolved with significantly more light contrast, so we're dealing with an ancestral mismatch. To restore your circadian rhythm and combat the harmful effects of indoor lighting, try the following:1. Make your days aggressively brightEnsure adequate sun exposure before noon, and avoid wearing sunglasses. 2. Make the night genuinely dark Turn off overhead lighting, use soft night-lights, and dim screens 3 hours before bed.3. Restore contrast Focus on bright light during the day and remove light sources from your room at night. Replace light bulbs with incandescent lights if possible. Addressing the problems with modern light is one of the easiest ways to improve sleep naturally and restore your circadian rhythm. Dr. Eric Berg DC Bio:Dr. Berg, age 60, is a chiropractor who specializes in Healthy Ketosis & Intermittent Fasting. He is the Director of Dr. Berg Nutritionals and author of the best-selling book The Healthy Keto Plan. He no longer practices, but focuses on health education through social media.Disclaimer: Dr. Eric Berg received his Doctor of Chiropractic degree from Palmer College of Chiropractic in 1988. His use of “doctor” or “Dr.” in relation to himself solely refers to that degree. Dr. Berg is a licensed chiropractor in Virginia, California, and Louisiana, but he no longer practices chiropractic in any state and does not see patients, so he can focus on educating people as a full-time activity, yet he maintains an active license. This video is for general informational purposes only. It should not be used to self-diagnose, and it is not a substitute for a medical exam, cure, treatment, diagnosis, prescription, or recommendation. It does not create a doctor-patient relationship between Dr. Berg and you. You should not make any change in your health regimen or diet before first consulting a physician and obtaining a medical exam, diagnosis, and recommendation. Always seek the advice of a physician or other qualified health provider with any questions you may have regarding a medical condition.