$52 Billion Blunder 📉
Where news meets rational thinking
Good morning, It’s Friday, January 24th. In today’s news, Trump orders the declassification of high profile assassination files, Canada’s online casinos are being used to launder fentanyl profits, Trudeau wasted $52 billion on bad EV “investments,” Trump tells the WEF America doesn’t need Canadian exports, and much more.
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Trump Orders Declassification of JFK, RFK, and MLK Assassinations: Will It Deliver Transparency?
In a major executive action, President Donald Trump signed an order to declassify thousands of documents related to the assassinations of John F. Kennedy, Martin Luther King Jr., and Robert F. Kennedy. Trump, who had promised full transparency during his reelection campaign, declared, “Everything will be revealed.” While his action has revived hope for uncovering long-hidden truths, critics are already questioning its efficacy.
The order directs the release of JFK-related records within 15 days, with 45 days allotted for the RFK and MLK files. However, analyst Mike Benz has pointed out several flaws in the plan. Trump’s nominee for Director of National Intelligence (DNI), Tulsi Gabbard, has not yet been confirmed, leaving the process in the hands of Biden appointee Stacey Dixon. With a career rooted in the intelligence community, Dixon is unlikely to pursue aggressive transparency. Benz further noted that many key documents remain excluded, including paper records never digitized by the CIA, raising concerns that the agency is essentially controlling the narrative.
The skepticism surrounding the assassination of JFK is justified. Lee Harvey Oswald, the alleged assassin, famously claimed, “I’m just a patsy!” before being silenced by Jack Ruby. Benz highlighted revelations from declassified files showing that the CIA had been running counterintelligence operations on Oswald, intercepting his mail and monitoring his activities in the months leading up to the assassination. Combined with the infamous Zapruder film and forensic inconsistencies, these details suggest far more than a lone gunman was involved.
While Trump’s executive action aims to lift the veil of secrecy, the hurdles in place suggest the public may only see a fraction of the truth. Until there is independent oversight, the shadowy undercurrents of JFK’s assassination will continue to haunt America’s collective memory.
Canada’s Online Casinos are Being Used to Launder Fentanyl Profits
Canada’s financial intelligence agency, Fintrac, warns that online gambling platforms are being exploited to launder proceeds from fentanyl trafficking. Known traffickers are depositing and withdrawing funds through digital casinos and payment processors in Canada, Malta, and the UK to disguise illicit money as gambling winnings.
Fintrac analyzed 5,000 suspicious transaction reports between 2020 and 2023, linking many to the domestic distribution of synthetic opioids and imports of precursor chemicals from China and India. Organized crime groups are driving the illegal fentanyl supply chain, utilizing darknet marketplaces, cryptocurrency, and shady financial networks.
The alert highlights how these groups use payment processors to mask transactions, wire money to high-risk jurisdictions like China (Hebei and Hubei provinces) and Eastern Europe, and transport opioids inland via freight and trucking companies. Major distribution hubs include Vancouver, Toronto, and surrounding regions, with fentanyl exports leaving Canada through marine, air cargo, and land routes.
The report also notes that North America has evolved from being a consumer of illicit opioids to a producer, with domestic production and international distribution of fentanyl surging. More
Trudeau’s EV Mandates Cost Taxpayers $52 Billion—and They’re Failing
The Trudeau government’s $52.5 billion investment in electric vehicles (EVs) is looking more like an expensive gamble with diminishing returns. Since 2020, Canada has entered into deals with 13 manufacturers, pouring billions into the EV supply chain. These funds, aimed at supporting battery plants in British Columbia, Quebec, and Ontario, were presented as an economic win. But according to the Parliamentary Budget Officer (PBO), it will take 20 years—far more than the promised five—for the federal and provincial governments to break even on these subsidies.
As University of Guelph economics professor Ross McKitrick explains, what’s already been spent is “a sunk cost.” The money is gone, and there’s no getting it back. While future commitments could be rescinded to avoid further losses, billions have already been funneled into a risky venture that appears increasingly unviable.
Adding to the uncertainty, the Liberals’ electric vehicle rebate program ran out of money earlier this month, leaving Canada’s mandates on shaky ground. The Canadian Vehicle Manufacturers Association is now calling for these mandates to be scrapped, citing the financial strain on the auto industry. “The whole industry is losing money. They don’t want to be doing this,” McKitrick said. Automakers are being forced to produce EVs in a market where public demand isn’t meeting expectations.
This misstep has drawn criticism from taxpayers and industry observers alike. Nicolas Gagnon of the Canadian Taxpayers Federation called it a gamble taxpayers should never have been forced to make: “If you really want to encourage industries, give a tax cut to all corporations and let them compete properly. Don’t put taxpayers’ money into risky bets.” Source.
Trump Tells WEF that the US Doesn’t Need Canada’s Energy, Lumber or Auto Exports
In a World Economic Forum address, US President Donald Trump declared his administration doesn’t need Canadian energy, auto, or lumber imports, labelling Canada "tough to deal with." He suggested steep 25% tariffs on Canadian goods starting February 1 unless the country aligns more closely with US demands, even jokingly suggesting Canada become the 51st state.
The remarks sparked warnings of economic fallout, with economists predicting job losses in Canada. Prime Minister Trudeau pledged a "strong and gradual" retaliatory response, warning US consumers would face higher prices. Conservative leader Pierre Poilievre criticized Trudeau's handling, calling for an emergency Parliament session to address the crisis.
Canada remains a key supplier to the US, accounting for 60% of its crude oil imports, 92% of Canadian-made vehicle exports, and billions in softwood lumber, underlining the high stakes of a potential trade war. More
Zurich Airport Expects Over 1,000 Additional Private Jet and Helicopter Flights Due to WEF
Zurich Airport is preparing for over 1,000 private jet and helicopter flights as world leaders and business elites arrive for the World Economic Forum in Davos, a gathering focused on global crises like climate change. Despite advocating for environmental action, the summit’s attendees contribute significantly to carbon emissions, with private jets producing up to 14 times more pollution per passenger than commercial flights. Adding strain to Zurich Airport, jets are limited to two-hour parking without special permits. Meanwhile, UN Secretary-General António Guterres delivered a stark warning about the worsening climate crisis. More
Chrystia Freeland Campaigning Against Capital Gains Hike She Implemented - More
A federal Judge Temporarily Blocks Trump’s Executive Order Ending Birthright Citizenship - More
Purdue and Sackler Family Agree to $7.4 Billion Opioid Settlement - More
German Political Frontrunner Vows Permanent Border Controls After Knife Attack - More
Panama and China Push Back Against Trump’s Canal Threats - More
Half of Canadians Say They Can’t Sustain Current Standard of Living
A recent RBC survey reveals that 55% of Canadians feel "financially paralyzed," with 48% unable to sustain their current standard of living. Nearly half say they spend their entire income on essentials, while 47% have tapped into emergency or retirement savings to manage rising costs. Millennials, at 63%, report the highest financial stress, and Atlantic Canada residents feel the most strain, with 73% citing financial paralysis. Debt is increasingly used to cover basic needs, and 60% of Canadians express anxiety over handling unexpected expenses. More
Tesla is Raising the Price of Vehicles in Canada by up to $9,000 Starting February 1st - More
Trump Signs Sweeping Cryptocurrency Executive Order - The order will revoke existing executive guidance on digital currency, establish a presidential task force, and ban central banks from issuing tokens. More
American Auto Manufacturers are Already Moving Jobs from Canada to Illinois - One of the largest automakers in the world will remove 1,500 jobs from Canada and bring them to Illinois days after Trump takes office. More
Where Did Dinosaurs First Evolve? Scientists Propose a New Theory
Contrary to previous theories that dinosaurs evolved in the far southern hemisphere, a new modelling study points to an equatorial origin in regions corresponding to today’s Amazon rainforest, Congo basin, and Sahara desert. Using simulations that account for gaps in the fossil record and evolutionary uncertainties, researchers found that most scenarios place the first dinosaurs near the equator during the Triassic Period, around 230 million years ago.
This challenges earlier assumptions that dinosaurs couldn’t survive the region's hot and dry conditions. Instead, the lack of equatorial fossils may stem from limited excavation in these areas and a shortage of accessible rocks of the right age. Supporting the study, researchers recently discovered the oldest known dinosaur from northern Pangaea, suggesting dinosaurs traversed the equatorial zone early in their evolution. More
Establishing a Permanent Lunar Presence Will Depend on Ingenuity and the Moon's Own Resources - More
Are the Dodgers Ruining Baseball? Inside Dodgers' Signing Spree that Rocked MLB
Six years after the Dodgers first noticed Japanese pitcher Roki Sasaki, the team has signed him, solidifying their status as MLB’s powerhouse. Sasaki, a 23-year-old with a blazing fastball, chose the Dodgers over competitors like the Padres and Blue Jays, drawn to their legacy, resources, and global appeal. The Dodgers have dominated MLB spending, signing high-profile players like Shohei Ohtani and Yoshinobu Yamamoto, committing nearly $1.8 billion in contracts over the last year.
While their success is undeniable, their financial dominance has sparked criticism about inequality in the league, reigniting debates over salary caps. The Dodgers’ heavy use of deferred money, massive payroll, and luxury tax spending have set them apart, creating tension among fans, owners, and front offices. Some argue their approach exposes flaws in MLB’s economic structure, while others see it as a challenge for other teams to adapt and compete.
As MLB faces growing calls for financial reform ahead of the 2026 collective bargaining agreement, the Dodgers’ spending spree highlights the disparity in team resources. With belief in the league’s parity waning, the 2025 season is shaping up as a critical stress test for the sport’s future. More
Diddy Files $50 Million Defamation Lawsuit Against Accuser Who Said He Had Sex Tapes - More
SZA to Join Kendrick Lamar During Super Bowl Halftime Performance - More
Athlete Breaks World Record With 44 Pull-ups in One Minute
On This Day in 1984, Apple Computer Inc unveiled its revolutionary Macintosh personal computer in a Super Bowl TV ad directed by Ridley Scott
It’s National Compliment Day, Be Nice.