CJ

The Trump Administration is considering using the Defense Production Act as part of a strategy to save the beleaguered Spirit Airlines, who has declared bankruptcy for the second time in two years as the Iran War drives up jet fuel costs for all domestic and international airlines, according to U.S. officials familiar with the discussions who spoke to CBS News. Under the bailout plan being discussed, the government would lend Spirit $500 million at a reasonable rate interest, and become the top debtor in the bankruptcy pecking order. The loan would be protected by Spirit assets that would exceed the government's costs, while providing taxpayers with a warrant - the right to own 90% of the company after it emerges from bankruptcy, then likely being sold to another carrier, potentially American or Delta.

"Defense stocks have been trading not just like the Iran war is over, but like all war ever is over" -- Barclays Capital's Alexander Altmann

The New York Times platformed Hasan Piker on their "The Opinions" podcast to promote theft as a form of protest. The Mao fan said, "Yeah, I’m pro-piracy all the way, like, across the board. Would you pirate a car? Yes. You know, if you could." He also says he would steal from the Louvre if he could, "I think it’s cool. We’ve got to get back to cool crimes like that: bank robberies, right? Stealing priceless artifacts, things of that nature. I feel like that’s way cooler than the 7,000th new cryptocurrency scheme that people are engaging in." (1/2)

US Secretary of the Navy John C. Phelan has stepped down.

STATEMENT: Secretary of the Navy John C. Phelan is departing the administration, effective immediately. On behalf of the Secretary of War and Deputy Secretary of War, we are grateful to Secretary Phelan for his service to the Department and the United States Navy. We wish him well in his future endeavors. Undersecretary Hung Cao will become Acting Secretary of the Navy.

Ok Twitter, I can’t believe I need to clarify this but obviously Trump’s bungled mismanagement of this war is not “awesome”. As I have said a million times here, it’s a disaster and he should end the war immediately. My tweet was something called “sarcasm”.

awesome

This is the outline currently under discussion between the United States and Iran. I am sharing this with caution, as it hasn’t been agreed upon yet, but based on recent developments, these are the points they have been discussing: A 15-year suspension of uranium enrichment. The United States originally demanded 20 years, while the Iranians wanted much less; they eventually settled on 15. The plan includes converting uranium into fuel, which changes its physical state and makes it harder to re-enrich. While not a simple process, this means the uranium won't necessarily leave Iran, which is a major concern for Israel. Full inspection of nuclear sites and the opening of the Strait of Hormuz are, of course, a given. The deal would also include ending the war, the withdrawal of American forces from the Gulf, and the lifting of economic sanctions. It must be said that, aside from the uranium, the lifting of sanctions is what worries Israel the most. As you recall, the strategic goal of the war was to create the conditions for the regime’s downfall. The regime was in danger of collapsing due to an economic situation that deteriorated primarily because of those sanctions; if they are lifted, the regime is strengthened. Therefore, it seems to me that the perception in Israel remains that the status quo is preferable—a state of "no war, no peace" where U.S. military forces remain on standby in the Persian Gulf. But as we have learned, this does not depend solely on Israel's desires, to put it mildly.