Counter Attack – New Intelligence Authorization Act Seeks to Curb Power of DNI


Posted originally on CTH on July 20, 2025 | Sundance

The response from Chairman Tom Cotton and the Senate Select Committee on Intelligence to the action of DNI Tulsi Gabbard was predictable.

The SSCI has now framed the Intelligence Authorization Act for Fiscal Year 2026 [LINK] to modify the “responsibilities and authorities of the Director of National Intelligence.” [Section 402]

[SOURCE – Sec 402 LINK]

We knew this was coming.  The Intelligence Community does not like rogue actors amid their ranks, especially if those people have cross-silo access.  The silo system is designed to protect the Deep State.  Any entity who can cross reference the inserted information becomes a risk to the enterprise.

Senator Cotton cannot directly oppose Tulsi Gabbard without exposing himself.  Thus someone, not the SSCI, writes the legislative changes to the Intelligence Community rules and procedures and Tom Cotton simply advances them.  That’s the way DC operates.

[TWEET LINK]

Additionally, Chairman Cotton does not want the DNI to investigate or generate its own intelligence.  Cotton demands the ODNI just accept and regurgitate the intelligence Tulsi Gabbard would be given by the other agencies; no independent review of analysis permitted.  All of these actions push the Intelligence Community power center back into the CIA and away from the prying eyes of the DNI.  That’s the SSCI motive.

WASHINGTON DC – A top Republican senator is proposing a sweeping overhaul of the Office of the Director of National Intelligence, slashing the workforce of an organization that has expanded since it was created in the wake of the Sept. 11 attacks.

Under a bill by Sen. Tom Cotton of Arkansas, the chair of the Intelligence Committee, the ODNI’s staff of about 1,600 would be capped at 650, according to a senior Senate aide familiar with the proposed legislation.

ODNI’s workforce was about 2,000 in January, but National Intelligence Director Tulsi Gabbard has already overseen a reduction of about 20% as part of the Trump administration’s drive to shrink the federal workforce. The reduction in the staff Gabbard oversees could weaken her role in the intelligence bureaucracy.

[…] The attacks of Sept. 11, 2001, exposed a failure to share information across spy agencies with catastrophic results. As a result, Congress established the ODNI to oversee all of the country’s 18 intelligence services, including the CIA, and manage bureaucratic turf wars from a complex outside Washington, D.C.

What started as a relatively small office under the national intelligence director in 2005 has expanded over the last 20 years to include in-house analysis teams and centers focused on counterterrorism and counterintelligence. Cotton has described the ODNI as a bloated bureaucracy that should return to its original mission of coordinating the work of other spy agencies instead of producing its own reports and duplicating other agencies’ efforts.

“Congress in no way wanted yet another unruly bureaucracy layered on top of an already bureaucratic intelligence community,” Cotton said at Gabbard’s confirmation hearing in late January. “Unfortunately, 20 years later, that’s exactly what the ODNI has become.”

Gabbard herself expressed support for downsizing the ODNI’s workforce at the hearing, saying she would work with Cotton and other lawmakers to eliminate “redundancies and bloating.” (read more)

In the lead up to the election I outlined what the DNI could do with untapped power already given to the office.  DNI Tulsi Gabbard has been following a path close to that outline.  Now, we see Washington DC responding to that affirmed power structure and actively working to neuter the DNI.  A very predictable outcome.

The only intelligence silo more corrupt than the CIA is the Senate Select Committee on Intelligence that oversees it.

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60% of Canadians Face Rising Mortgage Payments by 2026


Posted originally on Jul 18, 2025 by Martin Armstrong 

Housing

Canadians with a mortgage renewal in the near future are facing trouble ahead. The Bank of Canada released a new report detailing that around 60% of outstanding mortgages are set to renew in 2025 or 2026, and those homeowners are highly likely to see a rise in monthly payments.

Most borrowers went into a five-year, fixed-rate mortgage when rates were significantly lower. The average monthly mortgage payment for those renewing in 2025 is expected to rise by 10% compared to December 2024. Those set to renew in 2026 should anticipate a 6% monthly increase in comparison to the same time period. However, this is all dependent upon the type of product purchased. The central bank noted that those who selected a variable rate payment may actually see a decline of between 5% to 7%. Those with a five-year, fixed-rate payment could see an increase of up to 15% to 20%. Of the 60% of mortgage holders facing renewals, around 75% of those facing increases hold a five-year, fixed-rate mortgage.

Five-year, fixed-rate mortgages account for 40% of all outstanding mortgages in the nation. The central bank’s report notes that 20% of these holders with mortgages renewing in 2026 will experience an increase.

The variable rate surpassed its peak years ago, but the renewal rates vary drastically. At the top, 10% of those renewing in 2026 could experience an increase of over 40%, while at the bottom, around 25% may see a decrease of at least 7%. Principal payments made since origination is one of the primary factors. Those who chose or had the ability to increase monthly payments to cover principal and interest are less likely to experience a dramatic price increase at renewal compared to those in negative amortization. These loans face rising interest that is added to the principal when the monthly payment is unable to meet the initial interest.

Around 80% of those with variable loans who renewed prior to March 2022 have repaid beyond their contract, leading to only 5% of that group holding a higher principal balance in February 2025 compared to the previous renewal or origination.

The central bank has deemed that this will not cause severe stress to the Canadian economy. Yet, the central bank is counting on borrowers having a higher income at renewal.

“Overall, we do not expect upcoming mortgage renewals to lead to a severe worsening of financial stress for affected borrowers, holding everything else constant. Indeed, most borrowers will likely have higher income at renewal and should face interest rates below what they were stress-tested for. That said, some borrowers with higher payments at renewal will face challenges. Many of them will need to change their spending to manage higher mortgage payments. And some may struggle to meet their other financial obligations.”

This is an optimistic analysis that relies on the economy strengthening at a time when the indicators are not there. Households cannot necessarily absorb these rate hikes, as we are looking at around 60% of renewals experiencing an uptick in monthly payments. The models show rising tension across Canadian banks and mortgage-backed assets into Q1 2026. This is not about a bubble bursting. It’s about a slow, structural compression.

UK to Permit 16-Year-Olds to Voteoriginally onUK to Permit 16-Year-Olds to Vote


Posted originally on Jul 18, 2025 by Martin Armstrong 

Vote.UK_.Election

Teens in the United Kingdom were recently deemed too irresponsible to use social media and user-generated online content. Yet, the government has deemed it appropriate to now permit teens to begin voting in elections at the age of 16.

The Labour Party has been pushing legislation to permit 16-year-olds to vote. Coupled with digital IDs, teens will be permitted to apply for proper credentials as the UK moves toward an “increasingly automated voter registration system.”

“For too long public trust in our democracy has been damaged and faith in our institutions has been allowed to decline,” Deputy Prime Minister Angela Rayner said. “We are taking action to break down barriers to participation that will ensure more people have the opportunity to engage in UK democracy, supporting our plan for change, and delivering on our manifesto commitment to give 16-year-olds the right to vote.”

Young voters are the least likely demographic to cast a vote. In the UK’s 2024 general election, voter turnout for the 18-24 year-old demographic was only 47%. Yet, the youth tend to favor the Labour Party, leading many to believe this measure is an attempt to buy votes. As Winston Churchill famously said, “If you’re not a liberal when you’re young, you have no heart; if you’re not a conservative when you’re old, you have no brain.”

The government forces this demographic to pay taxes on earnings over £12,570. They must pay into the National Insurance fund from age 16 if they earn above the limit, with the government currently taking £242 per week. Teens as young as 15 years and 7 months may join the Army, and those 16 years of age of older may begin basic training with parental consent. However, they cannot serve in active armed operations until they turn 18.

Are 16 and 17-year-olds responsible enough to vote? If the government deems they responsible enough to begin training to fight and pay taxes, then perhaps the youth should be permitted to select who will lead them into war and dip into their pockets. Better yet, stop sending kids off to die in foreign wars and dissuading the youth from seeking out entry-level roles with taxation. If they’re responsible enough to select the leader of their nation, they should be able to access the internet freely and be exposed to a wide range of voices and opinions, rather than what the government labels as information or misinformation.