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NoneDonald Trump is set to return to the White House for a second term with a Republican Trifecta allowing him to pursue his agenda. The policy decisions he will make beginning January 20, whether on the US economy, global geopolitics, his dealings with Iran, US tariffs or his relationship with Europe, will heavily influence how global economic growth will pan out next year. Europe, where growth has remained muted this year, is bracing for a transactional relationship with the incoming US administration. China, whose economic momentum was underwhelming in 2024, is signalling it is ready for a cordial trade relationship with the world’s biggest economy, but it is equally ready for a war of tariffs. Analysts say that people nominated by Mr Trump to run departments including treasury and trade tow the tagline of “America First” and will remain at the front and centre of decision-making once he assumes control of the Oval Office. “Donald Trump will pursue the campaign’s focal points at a fast pace in the first two years before the midterm elections change the composition of the Congress again,” says Nannette Hechler-Fayd’herbe, head of investment strategy, sustainability and research at Swiss wealth manager Lombard Odier. “This means many decrees in January and changes to US foreign policy, trade policy, migration policy, deregulation and more.” The world economy has so far remained resilient, although increasingly uneven across geographies, despite a significant rise in geopolitical risks in the Middle East and escalation in the Russia-Ukraine war in the past few months. The International Monetary Fund expects global growth next year to at least maintain the current level, however, the win of Mr Trump has added new dynamics, as the policy directions in the US are historically important for the global economy. In its pre-Trump win forecast in October, the IMF maintained its 2024 and next year global economic growth projection of 3.2 per cent amid softening inflation. However, the Washington-based fund warned of “a high degree of uncertainty” casting shadows on the outlook. “The magnitude of the impact of Mr Trump’s decisions on the global order will likely be larger than most expect,” Norman Villamin, group chief strategist at Swiss private bank UBP, says. Beyond the IMF’s one-year projections, the global economy is facing a feeble period of medium-term growth. It also made “sizeable downside” revisions to low-income and developing countries, due to intensifying conflicts. For many advanced and emerging market economies, the five-year forecast is weaker than the one-year forecast, “suggesting that persistent headwinds to growth will remain prevalent over the medium term”, IMF director of research Pierre-Olivier Gourinchas said at the time. “We do not look for global growth to necessarily accelerate but we see it holding close to steady near current levels. However, growth is likely to improve from low levels in some economies such as Japan and the eurozone,” says Karine Kheirallah, managing director and head of investment strategy and research for the Middle East and Africa at State Street Global Advisers. Analysts say the global economy is already in choppy waters and is bound to face challenges without Mr Trump in power. Although the global economy skirted an energy price-driven recession last year, “there is a [still a] lingering recession risk”, Daniel Murray, deputy chief investment officer and global head of research at EFG Asset Management, says. “It is notable that the EU economy looks structurally very weak while some delinquency and default rates are on the rise in the US. And, of course, it is possible that China fails to deliver on its promised and expected stimulus packages.” All eyes will also remain fixed on how the US Federal Reserve will introduce rate cuts going forward amid anticipated expansionary policies of the new administration. Already, the Fed doesn’t appear in a rush to lower its benchmark rate, which can potentially impact how central banks around the world shape their monetary policy decisions. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Fed chairman, Jerome Powell said earlier this month. Julius Baer chief economist David Kohl, in a recent co-authored note, said higher growth and inflation, as well as a more deficit-financed fiscal policy, have reduced the Fed’s scope for rate cuts. “We expect the Fed to pause at a Fed Funds target rate level of 4 per cent,” he said. With Mr Powell publicly stating the US election results would not affect monetary policy and that the Fed would respond as needed to changes in fiscal policy, once those fiscal changes are clear, the 25 basis point cut in December was “a coin toss due to the potential re-acceleration of inflation”, Saira Malik, chief investment officer at $1.3 trillion asset manager Nuveen, says. “The 100 basis points of cuts in 2025 may also be optimistic.” Mr Murray from EFG Asset management agrees, saying “US rate expectations have been highly volatile this year and that is expected to continue”, however, the market is “currently pricing three Fed rate cuts from here to the end of 2025”. Expectations for the European Central Bank are “more reasonable with five or six rate cuts forecast to the end of next year”. While the Bank of England is more closely aligned with the Fed, the Bank of Japan is a rare regulator, which is currently in the “hiking mode”, he adds. The anticipated economic policy actions by the incoming US administration would also likely transpire into quicker growth and “sticky inflation” that will not drop below this year’s levels. “This will probably prevent the Fed from cutting Fed fund rates all the way to estimated neutral levels,” says Ms Hechler-Fayd’herbe, who is also Lombard’s chief investment officer for Europe, the Middle East, and Africa region. “For the rest of the world, it means marginally less growth and therefore deeper central bank rate cuts as well as other stimulative measures and weaker currencies. In other words, Donald Trump’s policies are quite critical for the outlook for 2025.” Even without Mr Trump’s expected expansionary policies, UBP projects US inflation to bottom in early 2025 near 2 per cent and rebound by year-end to close to 3 per cent. “Depending on the timing and magnitude of the fiscal efforts rolled out by the incoming administration, a further impetus to this troughing in inflation we expect may emerge in 2025,” says Mr Villamin. “Markets are already beginning to price this prospect, both [in terms of] pricing rate cuts from the US Fed as well as pushing longer-term bond yields higher in late-2024.” Analysts say it is too early to estimate if the Trump administration’s push for balanced trade with the world would turn out to be a repeat of the retaliatory war, which the world endured during his first presidency. However, his nomination of Howard Lutnick, co-chair of his transition team, as his commerce secretary is an indication of a tougher stance on China. The US could impose about 40 per cent tariffs on imports from China next year, potentially cutting growth in the world’s second-biggest economy by up to a percentage point. However, the new administration will resist starting off with blanket 60 per cent tariffs on Chinese goods, a Reuters poll of economists showed. Mr Trump ran for office on the pledge that he would impose hefty tariffs on Chinese imports. He engaged in a tariff war and levied additional duties on goods from Europe, Canada and countries elsewhere in the world. His campaign promises of America First in trade are causing unease among US trade partners globally. “The extent to which Mr Trump’s policies will impact the rest of the world will depend primarily on how aggressively his trade team seek to redress US imbalances with other parts of the world. The higher and more wide-reaching the tariffs, the greater will the impact be,” Mr Murray says. Mr Trump has already said he would hit China, Mexico and Canada with new tariffs the very first day of his presidency. He plans to sign an executive order imposing a 25 per cent tariff on all goods coming from Mexico and Canada, and will charge China an additional 10 per cent tariff, “above any additional tariffs”. At the end of November, Mr Trump threatened the Brics nations with 100 per cent tariffs if they moved against the US dollar. “The idea that the Brics countries are trying to move away from the dollar while we stand by and watch is over,” Mr Trump said on the Truth Social network. “We require a commitment from these countries that they will neither create a new Brics currency, nor back any other currency to replace the mighty US dollar or, they will face 100 per cent tariffs, and should expect to say goodbye to selling into the wonderful US economy.” Geopolitics and the continuing conflicts in Ukraine and the Middle East remain among the biggest threats to the global economy next year. Although Mr Trump has pledged to end both wars after taking office in January, how successful he will be in his efforts remains to be seen. “There is clearly a risk that the situation in Ukraine does not get resolved and escalates, involving Nato troops on the ground,” Mr Murray says. “Similarly, the situation in the Middle East could deteriorate, for example, if one of the countries at the centre of the situation miscalculates in terms of the scale of retaliatory strikes.” The potential of the Israel-Gaza war turning into a pan-regional conflict involving Israel, Iran and Tehran-backed militias is a lingering threat to global energy supplies from the Middle East, home to some of the world’s largest crude exporters. Iran this year has twice launched barrages of missiles on sites in Israel, for killing senior leaders of the Iran-back Hezbollah’s leaders in Tehran and Lebanon. Israel in retaliation has hit military targets in Iran. The more than a year-long war has spilt beyond the Gaza borders into Lebanon where the civil population paid a heavy price of constant Israeli attacks and air strikes until a ceasefire deal was reached between Israel and Lebanon at the end of last month. The economic impact of the war is already evident. The IMF has lowered its outlook for the Middle East and North Africa region by 0.6 per cent for this year from its April forecast to 2.1 per cent, underpinned by Saudi Arabia’s oil production cuts and the conflicts in the region. “Markets hate uncertainty, and while fundamentals are most important for investors, geopolitical tensions and military conflicts can’t be ignored and are undoubtedly some of the biggest challenges for the global economy and investors to navigate going into 2025,” Ms Malik says. After a stellar year in 2023, equity markets have been on the rise this year, driven higher by a multitude of factors, including bumper profits. Stocks hit multiple record highs before the November 5 presidential run for the White House and have not eased after the Republican control of Washington. Benchmark S&P 500 index has gained more than 25 per cent this year, on track for a second year of returns above 20 per cent – a run that’s occurred just four times in the past 100 years. Nasdaq has risen by 28 per cent, while the Dow Jones Industrial Average Index has rallied more than 19 per cent since the beginning of this year. However, analysts are sceptical if markets will be able to deliver a third year of stellar returns, despite Mr Trump’s pro-growth and expansionary policies. “US equity markets have delivered nearly 25 per cent returns in not only 2024, but also in the year prior ... [with] another year of 20 per cent returns unlikely in 2025,” Mr Villamin says, adding that markets rarely outpace returns of two good years in a third consecutive year. “Only in 2021 amid pandemic-era quantitative easing did the S&P 500’s nearly 27 per cent price returns outpace the already strong 22 per cent [compound annual growth rate] returns seen in the prior two years.” Though company fundamentals will be the guiding yardstick for investors, policy action by the Trump administration could also determine investment trends in certain segments of the US market. “While market valuations and company-specific fundamentals are more important than politics, we think the change to a Republican administration is likely to result in a shift in the regulatory environment for the financial, energy and healthcare sectors,” says Ms Malik. “We may also see increased investment in traditional oil and gas exploration, which would serve as a relative benefit to those areas of the market.” EFG Asset Management expects Mr Trump’s pro-growth and low regulation policies to probably provide a tailwind to US markets next year. “We expect returns to be more broadly based, in contrast with the concentrated returns of this year [and] small and mid-cap [stocks] could do better in such a situation,” says Mr Murray. “It may be the case that the headline indices do not move by that much because the larger weighted stocks are rangebound, while there is a high proportion of stocks in the index with lower market caps that do relatively well.” Source: The National
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Shimla (Himachal Pradesh) [India], December 28 (ANI): Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu said on Saturday that the state government is planning to establish a potato processing plant in Una district, with an investment of approximately Rs 20 crore. The plant will have a minimum processing capacity of 500 kg per hour and will primarily focus on producing potato flakes. The agricultural department has been directed to formulate a detailed project report (DPR) in this regard. Also Read | Tom Cruise's Upcoming Film With Alejandro Gonzalez Inarritu to Hit Theaters on October 2, 2026. He said that agriculture accounts for 14 percent of Himachal Pradesh's Gross State Domestic Product, with potatoes being a key crop, an official release said. Potatoes contribute around 20 percent of the state's total vegetable cultivation, yielding approximately 2,38,317 metric tonnes from 16,960 hectares. Also Read | ISRO's SpaDeX Mission Set for December 30 Launch To Achieve Historic Space Docking Feat: Minister of Science and Technology Dr Jitendra Singh. The establishment of the potato processing plant will help ensure better remunerative prices for potato farmers and boost the local economy by creating employment opportunities both in the factory and the agricultural sector, he said. By processing potatoes into value-added products like flakes, the plant will help stabilize the potato market and reduce the vulnerability of farmers to price fluctuations in the fresh potato market. Potato flakes are made by cooking, mashing, and drying the potatoes to create flat, dehydrated chunks, which are then packaged for sale. The Chief Minister said that the potato processing industry is a highly industrialized, technologically advanced, and market-driven sector. He said that Una district, with its production of approximately 54,200 metric tonnes of potatoes from 3,400 hectares across both seasons (Autumn and Spring), is well-positioned to support such a plant. Additionally, the neighbouring state of Punjab also produces a significant quantity of potatoes, ensuring a steady supply of raw material for the processing industry. He said that one of the key advantages of potato cultivation in Himachal Pradesh is the ability to harvest potatoes during the Rabi season, which typically occurs in March. However, due to market conditions, farmers often face distress sales during this period. The proposed processing unit will offer farmers an opportunity to sell their potatoes at better prices, thereby preventing price fluctuations and ensuring a year-round demand for potatoes. Sukhu stated that Himachal Pradesh's climatic conditions are ideal for producing high-quality, disease-free seed potatoes, which are highly valued across India. He also said that the demand for processed potato products, such as flakes, is rapidly growing in India, driven by changing consumer preferences and the expanding processing industry. The development of the potato processing sector in Himachal Pradesh will not only support local farmers but also contribute to the overall growth of the state's agriculture economy, the release said. (ANI) (This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
Cannabis-infused edibles producer Grön (pronounced grewn ) announced the release of an exclusive flavor available only in Arizona at Curaleaf CURLF locations: Prickly Pear. Inspired by the Southwest's vibrant desert landscape, the new flavor will be accessible in two product options: Prickly Pear MEGA, available in a 10-pack and Prickly Pear Sugar-Coated Pearls. "Arizona is a key market for us, and we are thrilled to create a product that truly resonates with local tastes," stated Christine Apple , founder and CEO of Grön. "The Prickly Pear MEGAs aren't just delicious edibles—they're a celebration of Arizona's unique character and desert culture and the Prickly Pear Pearls will be a perfect addition to our lineup. We're so happy to bring this distinct experience to our Arizona customers." Read Also: NASDAQ-Listed Weed Stock, High Tides Surges Over 21% In Last Two Sessions Get Benzinga's exclusive analysis and the top news about the cannabis industry and markets daily in your inbox for free. Subscribe to our newsletter here . If you're serious about the business, you can't afford to miss out. The new products will be exclusively available at all 16 Curaleaf dispensaries in Arizona, marking it as a unique, ongoing offering tailored for Arizona consumers. The MEGA 10-Packs weighs in at nearly a half pound per pack containing 10 large MEGAs totaling 1,000 milligrams of THC per package. The Prickly Pear Sugar-Coated Pearls will contain 100mg of THC per package, with 10mg THC per pearl. The Prickly Pear MEGA 10-Pack represents a unique collaboration between Grön and cannabis retail giant Curaleaf. With a balanced sweet-tart taste, the prickly pear flavor is a popular choice among Arizona consumers, who tend to enjoy more high-dose products. Read Next: Inside Grön’s Marijuana Edibles Factory: What Can We Learn About Choco-Nomics And Multi-State Expansion? Courtesy photo © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved."Once upon a time, in the Land of the Free, there lived a wizard called Kash the Distinguished Discoverer," reads the opening line of The Plot Against The King . It's the first in a trilogy of children's books written by President-elect Donald Trump's pick to lead the Federal Bureau of Investigation, Kash Patel . In the books, Kash the wizard helps a noble hero named "King Donald" foil characters like "Hillary Queenton"' and "Comma-la-la-la." The first book features a thinly veiled reference to the agency Trump has tapped Patel to head as "slug stables in a shadowy corner of the castle," run by "Keeper Komey" referring to former FBI director James Comey, whom Trump fired during his first term in 2017. Another book references 2000 Mules , the thoroughly debunked film that falsely asserts the 2020 election was stolen from Trump. The children's books are just one example of how Patel has parlayed his time serving in various national security roles in the first Trump administration to building a brand promoting pro-Trump conspiracy theories and selling merchandise. Those conspiracy theories have also been cited by Patel in past public statements promising payback for Trump's perceived enemies. Patel started his career as a public defender in Florida and later became a federal prosecutor. His work as a congressional aide helping Republicans defend Trump during investigations into Russian election interference in 2016 got him noticed. As a staffer for Rep. Devin Nunes, (R-Calif.), he helped author a 2018 memo that alleged the FBI and Justice Department committed surveillance abuses by omitting information in its warrant applications to monitor a Trump campaign staffer. An FBI internal watchdog report later confirmed errors and omissions on the applications, but found no evidence that the federal agencies acted with political bias. Patel went on to roles at the National Security Council and Pentagon in Trump's first administration. Alex Pfeiffer, a spokesperson for the Trump transition team, told NPR that experience is why Patel's "beyond qualified" to be FBI director. Patel did not return a request for comment. Christopher Wray, the current FBI director, was appointed by Trump in 2017 and still has more than two years left in his 10-year term. On a Sunday appearance on NBC's Meet the Press , Trump was asked if he intended to fire Wray to make room for Patel. "Well, I mean, it would sort of seem pretty obvious that if Kash gets in, he's going to be taking somebody's place, right?" Trump said. "Somebody is the man that you're talking about." A focus on conspiratorial views In addition to writing children's books, Patel has spent the four years since Trump left office on projects closely aligned with his former boss and the MAGA movement. He was a board member and consultant for the parent company of Truth Social, Trump's social media platform. He launched the Kash Foundation, which he has said assists defamation victims and the families of Trump supporters who have been charged for their role in the Jan. 6 attack on the Capitol. He also featured the voices of jailed Jan. 6 defendants in a song he helped produce that Trump played at his rallies. Patel described the song as an effort to raise "funds and awareness for the due process that has been hijacked for so many people who were in and around Jan. 6," while critics called it a part of an effort to reframe the deadly insurrection attempt . (Patel has also pushed the baseless theory that Jan. 6 was primarily instigated by the FBI and its informants to hurt the MAGA movement). Patel also became a fixture on right-wing talk shows and podcasts. His scores of appearances include shows hosted by far-right fringe figures such as Stew Peters , who is known for spreading conspiracy theories and hate speech , as well as calling for the death penalty for Hunter Biden, President Joe Biden's son, and Anthony Fauci, the former director of the National Institute of Allergy and Infectious Diseases during the COVID-19 pandemic. As a co-host of a talk show for The Epoch Times, a media company known for spreading baseless conspiracy theories, a review by NBC found Patel shared unfounded claims about supposed conspiracies aimed at undermining Trump perpetrated by government officials, the FBI, social media platforms, the media and others. Patel has used his exposure to sell merchandise. He sells K$H-branded wine (some of the proceeds go to charity) and supplements that he claims 'detoxify' the supposed negative effects of COVID vaccines. His foundation sells branded clothes, accessories, playing cards and his books. Patel's book for adults, Government Gangsters: The Deep State, the Truth, and the Battle for Our Democracy , is framed as an insider's tell-all about his experiences during the first Trump administration. He uses the term "government gangsters" to refer to career bureaucrats who he claims are part of a corrupt "deep state." Patel described these "government gangsters" – as well as "people on the radical left and the mainstream media" – as "pure evil" in an interview earlier this year with a conservative Christian YouTuber . The idea of the deep state, which was popularized by Trump and embraced by his supporters, is one of Patel's main talking points, said Russell Muirhead, a political science professor at Dartmouth College who has co-authored books about modern conspiracy theories and democracy. "The deep state conspiracy refers to the idea that a huge, huge raft of governmental officials — many in the executive branch answering to the president — are actually hostile to the president and want to defeat him, want to obstruct him, want to disempower his constituents and his movement," Muirhead said. He said whether someone believes in it or not, the deep state idea functions to legitimize a project of disabling or disrupting parts of government that don't bend to Trump's will. Courting QAnon believers The deep state is also a key feature of many modern, pro-Trump conspiracy theories, including QAnon . Adherents of QAnon claim the deep state works with a cabal of pedophile elites to secretly traffic children and harvest a chemical from their blood . They believe a government insider known as Q is working with Trump on a plan to take down the cabal and left cryptic clues on online message boards. One of those supposed clues, known as a "Q drop," mentioned Patel by name in 2018 with the note, " name to remember " – making him a celebrated figure in QAnon lore. QAnon believers have long been anticipating what they call "the storm," which they expect will include mass arrests and punishment for "the cabal" and members of the deep state. Trump's decision to pick Patel to lead the FBI has been celebrated by the movement's key influencers as a sign " the storm " is imminent. For his part, Patel has been willing to court QAnon believers as he built his brand and platform in recent years. In 2022, after Patel inscribed some copies of one of his children's books with a QAnon slogan, he fielded questions about whether he was a believer. He claimed he used the slogan because of its ties to a movie , but did not distance himself completely, either. "You know, the Q thing is a movement. A lot of people attached themselves to it," Patel told pro-Trump influencer Mary Grace at the time . "I disagree with a lot of what that movement says, but I agree with what a lot of that movement says." Patel has tended not to focus on the pedophile part of the belief system, but he's made more than 50 appearances on at least a dozen podcasts that have either promoted the QAnon movement or shared QAnon-related conspiracy theories. Patel made overtures to QAnon influencers to join Truth Social and helped promote an account called "Q" on that platform. In an appearance on the X22 Report , a podcast and video show known for promoting QAnon, Patel told the host that his "championing cause" was "to get our people and mainstream America listening to your show rather than CNN, reading ... The New York Times and The Washington Post ." When asked about Patel's comments about QAnon and appearances on related podcasts, Trump transition team spokesperson Pfeiffer told NPR, "This is a pathetic attempt at guilt by association." It is not unusual for those in Trump's orbit to wink at the QAnon movement. Trump and Elon Musk, the owner of the social media platform X, who was one of Trump's biggest financial supporters this election cycle, have both shared content related to QAnon in recent months. Muirhead, the Dartmouth professor, noted that Patel seems willing to "embrace the whole train of conspiratorial assertions associated with or even that define Donald Trump." And that includes QAnon. "It delivers him to an audience of sympathetic listeners and watchers," Muirhead said. Concerns about retribution Past comments Patel made promising retribution against Trump's perceived enemies, including for what he falsely alleges was a stolen election in 2020, have resurfaced since Trump announced he wants Patel to lead the country's top law enforcement agency. Patel's threats have also led to concerns that he will try to use the agency to harass personal and ideological foes in a modern version of the practices of the FBI's founding director, J. Edgar Hoover. "We will go out and find the conspirators, not just in government, but in the media," Patel said last year on former Trump adviser Steve Bannon's talk show, War Room . "Yes, we're going to come after the people in the media who lied about American citizens, who helped Joe Biden rig presidential elections — we're going to come after you. Whether it's criminally or civilly, we'll figure that out." Patel has previously sued journalists for defamation. After a former Trump official argued on MSNBC last week that Patel is unfit to lead the FBI, she received a letter from his attorney demanding she retract certain statements she made about Patel's record or face litigation. When asked about these past threats, Pfeiffer, the Trump spokesperson, told NPR, "Kash Patel is going to deliver on President Trump's mandate to restore integrity to the FBI and end the weaponization of the agency." On the campaign trail leading up to the November election, Trump repeated vows to get revenge and prosecute perceived foes. On his Sunday appearance on Meet the Press Trump denied that he would direct Patel to launch investigations against his perceived political enemies but said Patel is "going to do what he thinks is right." When pressed about whether he wanted such investigations to happen, Trump said, "If they were crooked, if they did something wrong, if they have broken the law, probably. They went after me. You know, they went after me and I did nothing wrong." At another point in the interview, he mentioned the members of the congressional committee that investigated his role in the Jan. 6 attack on the Capitol and said "Honestly, they should go to jail." Charles Kupperman, a former deputy national security adviser to Trump, told NPR he did not trust Patel when he overlapped with him at the National Security Council and said he believes appointing Patel to lead the FBI would be a mistake. The FBI has traditionally been independent from the president, but Kupperman has concerns that could change. "Kash will be a propagandist for Donald Trump," said Kupperman, who said he did not vote for either candidate in the last election and wrote in a name instead. "He will carry out any orders that the White House president gives him, and he will have an opportunity in the organization if he is confirmed at the FBI to invoke retribution against individuals. And it will not be a pretty picture or good for the country." Kupperman said he worries Patel will focus on rooting out government employees who are perceived as being disloyal to the president. He recalled a 2019 meeting where Trump had proposed Patel do that at the National Security Council, but Kupperman and others pushed back. Now he worries such an agenda could be part of Patel's mission if he were to head the FBI. "It will be a waste of effort and it will take our eye off of the ball of the other problems," Kupperman said. Patel's book, Government Gangsters, includes an appendix of names of people he considers part of the deep state. Kupperman's name appears on the list, though he said that won't stop him from speaking out about how he thinks Patel is an inappropriate choice for the job. "The fact that this individual is making the list, that is another example of why he's not fit to be the FBI director," Kupperman said, adding that he is not impressed with how Patel has chosen to spend the last four years. "Writing pseudo-children's books about the king and so forth doesn't strike me as a strong resume for an individual to become FBI director." For Muirhead, the prospect of having a conspiracist content creator heading an investigative agency raises another alarming possibility. "The FBI could be used to support, to generate, conspiratorial narratives that delegitimate the opposition and empower the regime," Muirhead said.
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FACT FOCUS: Vermont ruling does not say schools can vaccinate children without parental consentScott H. Keeney Sells 12,013 Shares of nLIGHT, Inc. (NASDAQ:LASR) StockIn his first public words since a five-day search ended with his arrest at a McDonald’s in Pennsylvania, Luigi Nicholas Mangione emerged from a patrol car shouting about an “insult to the intelligence of the American people” while deputies pushed him inside a courthouse. The 26-year-old Ivy League graduate from a prominent Maryland real estate family is fighting attempts to extradite him to New York so that he can face a murder charge in the Manhattan killing of Brian Thompson , who led the United States’ largest medical insurance company. A law enforcement bulletin obtained by The Associated Press said that at the time of his arrest, Mangione was carrying a handwritten document expressing anger with what he called “parasitic” health insurance companies and a disdain for corporate greed and power. He wrote that the U.S. has the most expensive health care system in the world and that profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin. In social media posts, Mangione called “Unabomber” Ted Kaczynski — who carried out a series of bombings while railing against modern society and technology — a “political revolutionary,” according to the police bulletin. Mangione remained jailed in Pennsylvania, where he was initially charged with possession of an unlicensed firearm, forgery and providing false identification to police. Manhattan prosecutors were beginning to take steps to bring Mangione to New York, but at a brief hearing Tuesday, defense lawyer Thomas Dickey said his client will not waive extradition and instead wants a hearing on the issue. Mangione was denied bail after prosecutors said he was too dangerous to be released. He mostly stared straight ahead at the hearing, occasionally looking at papers, rocking in his chair or looking back at the gallery. At one point, he began to speak to respond to the court discussion but was quieted by his lawyer. “You can’t rush to judgment in this case or any case,” Dickey said afterward. “He’s presumed innocent. Let’s not forget that.” Mangione was arrested in Altoona, Pennsylvania, about 230 miles west of New York City, after a McDonald’s customer recognized him and notified an employee, authorities said. Images of Mangione released Tuesday by Pennsylvania State Police showed him pulling down his mask in the corner of the McDonald’s while holding what appeared to be hash browns and wearing a winter jacket and beanie. In another photo from a holding cell, he stood unsmiling with rumpled hair. New York police officials have said Mangione was carrying a gun like the one used to kill Thompson and the same fake ID the shooter had used to check into a New York hostel, along with a passport and other fraudulent IDs. A law enforcement official who wasn’t authorized to discuss the investigation publicly and spoke with The Associated Press on condition of anonymity said a three-page, handwritten document found with Mangione included a line in which he claimed to have acted alone. “To the Feds, I’ll keep this short, because I do respect what you do for our country. To save you a lengthy investigation, I state plainly that I wasn’t working with anyone,” the document said, according to the official. It also said, “I do apologize for any strife or traumas but it had to be done. Frankly, these parasites simply had it coming.” Thompson, 50, was killed last Wednesday as he walked alone to a Manhattan hotel for an investor conference. From surveillance video, New York investigators determined the shooter quickly fled the city, likely by bus. Mangione was born into a life of country clubs and privilege. His grandfather was a self-made real estate developer and philanthropist. Valedictorian at his elite Baltimore prep school, he went on to earn undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a spokesperson said. “Our family is shocked and devastated by Luigi’s arrest,” Mangione’s family said in a statement posted on social media late Monday by his cousin, Maryland Del. Nino Mangione. “We offer our prayers to the family of Brian Thompson and we ask people to pray for all involved.” From January to June 2022, Luigi Mangione lived at Surfbreak, a “co-living” space at the edge of touristy Waikiki in Honolulu. Like other residents of the shared penthouse catering to remote workers, Mangione underwent a background check, said Josiah Ryan, a spokesperson for owner and founder R.J. Martin. “Luigi was just widely considered to be a great guy. There were no complaints,” Ryan said. “There was no sign that might point to these alleged crimes they’re saying he committed.” At Surfbreak, Martin learned Mangione had severe back pain from childhood that interfered with many aspects of his life, from surfing to romance, Ryan said. Mangione left Surfbreak to get surgery on the mainland, Ryan said, then later returned to Honolulu and rented an apartment. Martin stopped hearing from Mangione six months to a year ago.
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