Monday, June 22, 2026

Andy Borowitz

The Borowitz Report borowitzreport@substack.com 
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WASHINGTON (The Borowitz Report)—Desperate to distract from the algae overwhelming the expensively-renovated Reflecting Pool, on Monday Donald J. Trump ordered Marco Rubio to skinny-dip in the green murk.

Reportedly, Rubio was taken aback by the extraordinary demand, but Trump roared, “Little Marco, you’ve got to take one for the team.”

By mid-morning, tourists gawking at the pool fiasco were stunned to see the Secretary of State doing a backstroke entirely naked except for his oversized Florsheims, which he appeared to be using as flippers.

Harland Dorrinson, who had traveled with his family from Akron, Ohio, initially recoiled at the sight of the nude Rubio, but later noted, “At least it wasn’t JD.”



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Juan Matute
R.B.R.
C.C.R.C.


Something to Know - 22 June

If you read this newsletter by Mary Geddry and take nothing else from it, admire its brilliant English composition.   The Art of the Newsletter is its own category of Journalism.   Her style takes the dreariness out of Trumpism.   If you don't read it, you will probably wonder why I sent it.


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Make The Mess, Assign The Bill

The folly is the headline. The conscription is the story.

Jun 22
 
READ IN APP
 

Good morning! David Hearn stopped by the Lincoln Memorial Reflecting Pool and touched a piece of peeling paint to see how it felt. He was arrested for vandalism.

Trump has demolished the East Wing, erected cage-fight octagons on the South Lawn, and ruined the Ellipse. If anyone has vandalized the public inheritance, it is him.

The pool had recently been renovated, painted blue on presidential instruction for the coming 250th anniversary festivities, and then promptly became a visible argument against the people who had touched it last. Algae bloomed. Paint peeled. The national mirror looked like a municipal maintenance complaint with a security perimeter. Trump inspected the damage, declared himself amazed, “WOW, who would do such a thing?” and the machinery moved. Five people were reportedly arrested. Five more were reportedly cited. Jeanine Pirro went on Fox to promise prosecution. The pool, degraded by the administration’s own pageant work, was transformed into a crime scene.

Hearn’s mistake was not that he damaged the spectacle. His mistake was noticing that the spectacle was already damaged.

That is today’s move. The folly comes with a second cost. First, the administration manufactures or mismanages the failure. Then ordinary people, allies, institutions, shippers, inspectors, cities, and bystanders are conscripted to absorb the consequences and supply the alibi. Paint peels, and the citizen becomes the vandal. The strait is destabilized, and the shipper becomes the test case. The ceasefire is written around actors who are not party to it. Lebanon becomes the escrow account for everyone else’s war. The money is unfrozen, perhaps, but only if it passes through a toll booth stocked with American soybeans.

The day’s operating principle is simple: make the mess, assign the bill.

JD Vance emerged from Switzerland on Monday morning to announce that the United States and Iran had made “a lot of good progress.” This was the same negotiation that, the day before, had produced reports of Iranian fury, a refusal to participate in the opening photo opportunity, a threatened walkout, Trump threats about bombing Iran and keeping negotiators from making it home, and enough shuttle diplomacy by Qatar and Pakistan to make the Bürgenstock resort look less like a peace summit than a very expensive group-therapy intake.

Vance’s answer was that none of this mattered very much. The Iranians, he said, had not walked out. They had threatened to walk out, or perhaps social media had threatened to walk out on their behalf, which in the current diplomacy apparently counts as a recognized procedural category. The talks continued past 1 a.m. The technical teams remained. There had been, in his phrase, “a little bit of threatening” and “a little bit of whining,” but the process survived.

This is how empires in decline learn to speak HR.

The vice president laid out four accomplishments. First, a mechanism to keep the Strait of Hormuz open. Second, a mechanism for regional deconfliction, especially around Lebanon. Third, an Iranian agreement to invite IAEA inspectors back into the country. Fourth, a structure for technical negotiations over the next 60 days. The final deal, Vance said, is the house. What they built in Switzerland was the foundation.

It is a useful metaphor, provided one remembers that foundations are what people point to when there is not yet a house.

Still, the Vance remarks were not nothing. If Iran has indeed agreed to invite IAEA inspectors back in, that matters. If the technical teams remain in Switzerland, that matters. If Qatar and Pakistan have wrestled the parties into a roadmap for a final deal, that matters. Process is not peace, but in a region where public threats can derail private talks before lunch, process is at least the room not catching fire.

The problem is that every mechanism Vance described also functions as a confession. A mechanism to keep Hormuz open means Hormuz is not reliably open. A mechanism to deconflict Lebanon means Lebanon is already inside the deal, whether Israel, Hezbollah, or Lebanon itself consented to being turned into the tripwire. A mechanism to invite inspectors back means inspectors are not yet back. Vance said his team tried calling nuclear inspectors at 2 a.m. and discovered, to the surprise of no one outside a vice-presidential press gaggle, that not many people answer their phones at 2 a.m.

So the major milestone briefly went to voicemail.

The Strait of Hormuz remains the clearest expression of the toll-booth logic. Trump has said there will be no tolls during the 60-day ceasefire period and no tolls afterward “unless they are imposed by and for the United States of America,” should the deal not be completed, “for services rendered as the guardian angel” to the countries of the Middle East, for “past, present, and future reimbursement of costs.”

This is the sentence you write when you believe international law is a franchise agreement and the Persian Gulf is an under-monetized parking facility.

The branding is doing more work than the waterway. U.S. officials say the strait is open; Iran says it has asserted control; the shipping analysts watching the traffic see vessels moving, hesitating, and going dark by turns. Secretary Chris Wright leaned on transit counts to suggest normalization, but 55 ships is not 138 ships, and a vessel can pass through a strait and still prove it is not open in the only sense commerce cares about: predictably, insurably, without becoming a geopolitical scratch-off ticket. Access to a chokepoint remains leverage even after the president declares the chokepoint open on television.

Then there is Jared Kushner’s contribution, because no Middle East file is complete until a member of the Trump family has located a revenue stream. Vance said that if Iranian frozen assets are ever unfrozen, the money could be routed through a process approved by the United States and Qatar to buy American soy, corn, and wheat for the Iranian people. He called it a “classic Trump deal”: the money would “go to make American farmers richer and to feed the Iranian people.”

There is an argument for ring-fencing unfrozen assets so they cannot be diverted to militias or weapons programs. There is an argument for humanitarian purchase mechanisms. But the way Vance sold it was pure toll booth: the funds can move, perhaps, if they first pay tribute to the domestic political coalition. Iran gets food. Iowa gets a cut. Jared gets a mechanism.

It was almost elegant in its shamelessness.

The backlash is instructive because it does not fit neatly into partisan buckets. Susan Rice called the deal egregious and argued that too many concessions had been granted up front. John Cornyn gestured toward the sanctions-evasion problem from the other side. Hawks, Democrats, pro-Israel voices, and Iran skeptics can disagree about almost everything and still smell the same thing here: the administration appears to have paid in advance for compliance that has not yet arrived.

That does not mean the deal is doomed. It means the deal is expensive before anyone knows what it bought.

The Iran talks are back on track in the way a car is back on track after skidding across the median and being waved forward by two very tired police officers. It is better than the ditch. It is not yet transportation.

At home, the same governing style is being performed in smaller, uglier rooms.

The Reflecting Pool is the cartoon version because the facts are too gaudy to improve: a renovated pool, an algae bloom, an arrest.There is a kind of genius in choosing a reflecting pool as the site of the parable. The whole purpose of the thing is to show the country an image of itself. This week it reflected algae, peeling paint, state insecurity, and the federalization of embarrassment.

The pool did what it was built to do. Naturally, someone had to be charged.

The same pattern is visible in Memphis, though without the comic lighting. Nine months after Trump sent an anti-crime taskforce into the city, observers attempting to monitor the operation say they have been tailed, surveilled, intimidated, and in at least one case falsely arrested, according to allegations in an ACLU lawsuit. The point of observers is to watch power. The point of this kind of power is to make watching feel like obstruction.

That is the domestic toll booth. The government acts. The public asks what the government is doing. The public becomes the problem the government was supposedly sent to solve.

Chicago supplies the campaign version. After another violent weekend, Trump again floated military intervention and demanded to know why Illinois Governor JB Pritzker had not welcomed deployment. The city’s grief becomes raw material for a federal spectacle. The dead are not yet buried before they are turned into an argument for troops the state did not request.

Pool, Memphis, Chicago: three scales of the same move. Rename failure as sabotage. Rename scrutiny as interference. Rename local tragedy as an invitation for federal force. Punish the people who notice. Threaten the people who refuse to applaud.

The operation does not require a coherent policy. It requires a camera, an enemy, and a surface on which to project authority. A pool will do. A city will do. A protester will do. A bystander touching paint will do.

Not all toll booths are built after the accident. Some are installed before the road opens.

The AI industry is spending heavily in the 2026 midterms, with AI-focused super PACs reportedly raising roughly $100 million and spending about $44 million so far. Nearly half of that spending has converged on a single Manhattan race: the Democratic primary in New York’s 12th congressional district, where Assemblymember Alex Bores, a tech worker turned politician, has become the unlikely center of an industry fight over the first generation of AI legislation.

This is the quiet version of the same architecture. Not conscription after failure, but capture before consent. The lords arrive early, buy the zoning board, and then explain that the castle was inevitable.

The point is not that every AI company is sinister or every tech-backed candidate is a puppet. The point is that an industry whose social consequences are still being discovered is already spending like a sovereign power to shape the rules that will govern it. The public is still trying to understand the machine. The machine’s owners are already funding the referees.

Prediction markets offer a related preview. Public health advocates warn that resources are failing to keep pace with the rapid growth of online gambling just as Trump endorses the nationwide surge of prediction markets. The old gambling problem was whether people could afford to lose money on games. The new one is whether politics, crisis, war, weather, elections, and public life itself can be converted into a tradable addiction layer before anyone has built a serious public-health response.

This is what technofeudalism looks like when it wears a lanyard. First the platform creates the terrain. Then the platform monetizes the behavior. Then the platform funds the politics that will decide whether the behavior was ever a problem.

By the time the public arrives, the terms of service are already binding.

Elsewhere, entire eras are wobbling offstage.

Keir Starmer has announced he will resign as Labour leader while remaining caretaker prime minister until the party chooses a successor. Less than two years after Labour’s landslide, the great restoration of managerial competence has ended in the usual British manner: a leadership process, a polling collapse, and everyone pretending the next person will discover a lever the last person somehow missed.

Trump, naturally, claimed the scalp before it had fully hit the floor, tying Starmer’s fall to immigration and energy and shouting “OPEN NORTH SEA OIL!” because no foreign political crisis is complete until he has converted it into a fossil-fuel bumper sticker.

The British story is its own machine, and it deserves more care than a roundup can give it. But as a mood marker, it matters. The technocratic center promised stability. It got less than two years before the floor opened.

Alan Greenspan is dead at 100. Greenspan was not merely a former Federal Reserve chair. He was the high priest of a vanished faith: the belief that markets could be made neutral, that risk could be priced, that wise men with interest-rate tools and obscure syntax could keep the system rational if only politicians stayed out of the way. Then the system produced the mortgage crisis, the crash, the bailouts, the rage, and the politics that followed.

The timing is almost indecent. The patron saint of market neutrality exits the morning the toll-booth presidency drops the pretense. No invisible hand today. Just a hand out.

Greenspan deserves a fuller reckoning than this morning’s roundup can give him. For now, mark the timing.

So return to Hearn. The pool was never just an anecdote, but the Trump domestic model.

That is the whole operation in miniature.

The banner says power. The paint says otherwise. The citizen reaches out a hand.

And then the state arrives to defend the illusion.




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Juan Matute
R.B.R.
C.C.R.C.


Sunday, June 21, 2026

Something to Know - 21 June


We have come to the point where we are able to make an honest assessment of what the president's ill-advised adventure into Iran has brought us.   This is an article that is nothing more than a CNN on-line presentation.   It is pure journalism without a sense of bias.



What the Iran war cost the Pentagon, the economy — and Trump


President Donald Trump at Paris Orly Airport in France, on June 17.

President Donald Trump at Paris Orly Airport in France, on June 17. 


9 hr ago

With an agreement signed and further talks set to commence, the US war with Iran is at a halt, at least for now, and President Donald Trump is telling Americans they have won.

“’YOU’RE WELCOME!” Trump wrote on Thursday in a post on his social media platform, where he also ticked through benefits of his memorandum of understanding to keep negotiating with Iran for the next 60 days.

“OIL IS FLOWING, IRAN CAN NEVER HAVE A NUCLEAR WEAPON (THE WORLD WILL BE SAFE!), THE STOCK MARKETS ARE ROARING, JOBS ARE AT RECORDS, AND PRICES ARE DROPPING (AFFORDABILITY!). OUR COUNTRY IS STRONG, SAFE, AND RESPECTED LIKE NEVER BEFORE,” Trump said.

But an objective analysis of what has changed after more than 100 days of the conflict, in which 13 American service members lost their lives along with more than 7,500 civilians in the region, suggests a more nuanced story than the one Trump put in all caps.

Here are some of the big numbers and trends that draw a fuller picture of how the war affected the US:

The sticker price of the war is around $40 billion, but the total price is much higher

The conflict cost the Department of Defense is about $40 billion, according to preliminary numbers from an upcoming analysis from the Center for Strategic and International Studies.

The figure includes cost of munitions, destroyed equipment and damage to bases, but does not incorporate operational costs that were already factored into the department’s more than $1 trillion fiscal year 2026 budget, Mark Cancian, a senior adviser at CSIS, told CNN.

The Pentagon has submitted a request for $80 billion in supplemental funding, two US government sources told CNN. Less than $20 billion of that total request is related to immediate needs from the Iran war, according to one source, who added that the figure does not include costs like repairs to facilities and US basing in the region.

That includes around $26 billion spent on munitions

Munitions were the largest expenditure, Cancian said, adding that there was a “high use” of weapons that were long-range, highly sophisticated and expensive.

For example, a Tomahawk missile costs around $2.5 million, and the US used about a thousand of them, according to Cancian.

The war put a strain on the US’ stockpile of weapons

The USS Thomas Hudner fires a Tomahawk land attack missile on March 1.
The USS Thomas Hudner fires a Tomahawk land attack missile on March 1. 
U.S. Navy/Reuters

Experts and officials tell CNN that the military used significant portions of key missile inventory. Trump invoked the Defense Production Act earlier in June to force defense companies to manufacture more weapons.

The daily cost of the war waned as it went on with less frequent strikes and decreased use of expensive weapons, according to CSIS, which estimated that the first 100 hours of the war cost $3.7 billion. On day 12, the cumulative cost was around $16.5 billion, the think tank found.

While the Defense Department bore the brunt of the expenses, the conflict cost other agencies, such as Homeland Security and Veterans Affairs, $1 billion, according to CSIS’ preliminary numbers. Approximately $165 million of that was related to “higher fuel prices,” Cancian said.

Gas prices are still up

The war drove the price of gas up, a bitter pill for Trump, who has made reliance on fossil fuels drilling a key part of his agenda. But while the US has been the top oil and gas producer for years, the market is complex and worldwide. Gas prices rose from an average of less than $3 per gallon around the country to well more than $4 during much of the war.

Now that oil traffic is set to flow again through the Strait of Hormuz, look for prices to come down. But it will likely take time. The US average was $3.97 a gallon on Friday. On Thursday, it dropped below $4 for the first time since March 30.

According to an energy cost tracker from Brown University, American households have spent more than $253 more than what they would have paid if there was no war.

Diesel is up even more, which has a knock-on effect

Everyday Americans have been feeling the pinch of gas prices, but farmers and shippers have been feeling the pinch from diesel. The average price was about $3.80 before the war started. It is over $5 as of June 15, which is down from earlier in the war.

Brown University’s energy cost tracker found that due to the increased price, Americans spent nearly $27.1 billion extra for diesel.

The war also drove up the price of fertilizer, which could have a long-term effect on farming.

The strategic petroleum reserve is at its lowest level since 1983

The nation’s emergency reserve of oil, kept in salt caverns in the gulf coast, has been depleted both by the Biden administration as a result of Russia’s war on Ukraine and the Trump administration as a result of Trump’s war on Iran. As CNN’s Matt Egan reported, the reserve is now at its lowest level since 1983, when it was first being filled during the Reagan administration.

The world has lost 1.15 billion barrels of oil supply

Oil hasn’t been coming out of the Middle East for nearly four months. All told, the world lost 1.15 billion barrels of oil supply during the war, according to Kpler.

So, the world has been taking crude from just about everywhere else it can get some.

Venezuela and Brazil ramped up production. The United States sent loads of jet fuel to Europe and diesel to Australia. The Trump administration de-sanctioned hundreds of millions of barrels of Russian and Iranian oil. And 32 countries coordinated the largest release of emergency oil stockpiles in history.

That still wasn’t enough. So oil companies started drawing from their own supplies to satisfy their customers’ demand.

The tanks in Cushing, Oklahoma, are running out of oil

A critical oil hub in Cushing, Oklahoma, which pipes fuel all around the United States, just hit its operational stress level – the equivalent of when the coffee drops below the spigot and you need to tip the urn to get the last bits of sludge into your mug. Much of what collects at the bottom of an oil tank is unusable gunk, making it hard to maintain pressure in the pipes to get oil out to customers.

The US Energy Information Administration reported last week that Cushing had just 20 million barrels of oil left in its tanks. That’s a problem that Trump acknowledged Wednesday at the G7 in Versailles.

“You want to see bedlam?” Trump said. “We run out of reserves in about four weeks.”

Inflation is up

Trump has struggled to find a compelling political argument to explain why his policies have helped drive up prices. He has at times said the idea of “affordability” is a hoax. More recently, he said, “I love the inflation,” arguing it could be much worse and that when the war ended “it’s going to come down like a rock.”

But there’s a difference between inflation coming down, which means prices don’t rise as quickly, and prices actually falling.

Annual inflation was over 4% for the first time in three years, driven by those energy prices, according to recent data from the Bureau of Labor Statistics. That’s far from the highs of the Covid years, but double what the Federal Reserve generally wants to see before it lowers interest rates. The persistently high inflation helps explain why the Fed declined to cut rates last week, as Trump wants, despite now being led by his hand-picked Chairman Kevin Warsh.

But prices are now rising faster than the average American paycheck grew over the past year. In other words: Inflation ate your pay raise in April and May, the first time that had happened since 2023.

Consumer confidence is up a tick, but still near historic lows

There is some evidence of optimism among Americans. After three consecutive months falling, consumer sentiment rose in June, according to a long-running survey conducted by the University of Michigan. But it is still well below historic averages.

The general lack of confidence is not just a result of the war, as CNN’s Bryan Mena wrote.

Sentiment is going through a yearslong rough patch for a number of reasons, but it’s mainly due to the price shocks of recent years compounding to worsen affordability, though there are signs consumers may be getting used to it… Since 2020, Americans have endured several, back-to-back, historic events affecting the economy. That means there really hasn’t been a long and sustained period of rising sentiment to recover from the economic shocks of recent years.

Stocks are up

Market indices dipped in the immediate aftermath of the war, but Trump can continue to brag (and repeatedly has) that markets have continued to set records despite the war. Americans might be generally pessimistic about the economy in part as a result of inflation and rising gas prices caused by the war, but investors remain committed. Add in some big ticket IPOs from SpaceX and in the AI sector and, despite the war, people who feel good about their 401k balance if they’re lucky enough to have one.

Bonds are way down

Bonds have been selling off because of growing inflation concerns because of rising gas prices during the war. That sent the benchmark 10-year US Treasury yield to its highest level in more than a year in May, before it fell back a bit.

The 10-year yield influences consumer loan rates, including credit cards, auto loans and home mortgages.

Mortgage rates are way up

The average 30-year fixed mortgage rate fell to 6.47% last week, down from 6.52% the previous week, which was near the year’s high, according to Freddie Mac. Higher bond yields have pushed mortgage rates higher, keeping the housing market frozen and preventing people who can’t afford the American Dream from achieving it.

Rates may continue to rise: Federal Reserve Chair Kevin Warsh in his first meeting as chair last week said that the central bank would make a stronger push to get price hikes in check. The market now expects the Fed to hike rates later this year, potentially raising mortgage rates along with it.

Trump’s approval rating is down. But it was already extremely low

The president has a committed core of supporters, but most of the country disapproves of how he’s handling his job. As a result, his rating was already dipping below 40% before the war started. Just 38% of Americans approved of Trump’s job performance in February. That figure is at 37%, as of June 15, according to CNN’s Poll of Polls.

Trump’s handling of the war and of the economy are similarly under water, according to a recent Fox News poll, in which 31% of registered voters approved of his handling of the economy and 35% approved of his handling of Iran.

CNN’s Haley Britzky contributed to this report.

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Juan Matute
R.B.R.
C.C.R.C.