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"It's Outrageous": US Military Plane Nearly Collides With JetBlue Flight Off Venezuela A US military aircraft narrowly avoided a collision with a JetBlue passenger jet in skies near Venezuela after crossing into the commercial plane's flight path without activating its transponder, according to air traffic control audio reviewed by The NY Times and others. The JetBlue flight had departed from Curaçao, a Dutch Caribbean island roughly 40 miles off Venezuela’s coast, and was heading to New York’s John F. Kennedy International Airport when the near-miss incident occurred Friday. That it was headed for JFK from what's a popular seasonal tourist destination suggests that most of the passengers were Americans on board. "We almost had a midair collision," the JetBlue pilot said in the recording. "They flew directly through our flight path … and they don’t have their transponder on. It's outrageous." Illustrative: Imag via Lwashburn66/Reddit The military aircraft was identified as a US Air Force aerial refueling tanker. The JetBlue pilot is heard in the audio confirming he was forced to halt its climb to avoid danger. "We had traffic pass directly in front of us within about five miles - maybe as close as two or three miles," he described. "It was an air-to-air refueler from the US Air Force at our altitude, and we had to stop climbing." Air traffic control also acknowledged that it was "outrageous" dealing with unidentified aircraft operating in the airspace. The following day on Saturday, air traffic controllers in Curaçao had warned three pilots about unidentified aircraft in the area as they were flying with transponders off. These were also believed to be US military aircraft, according to the NY Times. The Trump administration has been threatening regime change targeting President Nicolás Maduro, and has been ramping up military flights right along Venezuelan airspace. Trump has lately said that land strikes could begin soon, but it might not be limited to Venezuela, suggesting anti-cartel operations in other parts of Latin America could ensue. Recent polls have shown that a sizeable chunk of the American public, even the majority, views the possibility of a new US war in Venezuela in a negative light. In scenario of a tragic incident involving civilian aviation, Americans would without doubt be furious. Independent Max Blumenthal has accused the Trump administration of "playing with the lives of civilians" in the below commentary: For weeks, the Trump admin's "Operation Southern Spear" has been playing with the lives of airline passengers traversing the Caribbean. Throughout November, the US military employed electronic warfare to jam the GPS of passenger airline pilots to force international airlines to quit flying to Caracas Colombia's Minister of Transport, María Fernanda Rojas slammed the cyberattacks targeting aircraft operating near Venezuela. "Deceptive signals are being emitted—cyberattacks, signals intended to fool positioning equipment, GPS " Rojas declared on December 2. "To technologically sabotage an air operation anywhere in the world is a crime. We cannot allow that ." On December 12, a US army refueling tanker flying without its transponder on nearly collided with a Jet Blue flight traveling from Curacao to New York “They don’t have their transponder turned on, it’s outrageous,” the JetBlue pilot told an air traffic controller. “We almost had a midair collision up here.” The Trump admin is engaged in borderline terrorism against civilian airliners and endangering travelers across the Caribbean – all to further a deranged regime change operation now focused on stealing oil tankers. How much longer before a flight is sacrificed for Marco Rubio's mania? “Pasaron directamente en nuestra ruta de vuelo… No tienen su transpondedor encendido, es una locura”, dijo el piloto. https://t.co/VTGteOxPPX — Telemundo51 (@Telemundo51) December 14, 2025 As of November, the FAA issued a high level security alert (NOTAM) for…

Enthusiasm For AI Stocks Is Finally Being Replaced By Questions By Jane Foley Senior FX Strategist at Rabobank Perhaps inevitably, the enthusiasm for AI related stocks in the past few years is now being replaced by questions regarding the returns on investment and specifically whether the costs of developing the technology will be matched in terms of the productivity growth it can create [ZH: actually, no: those questions emerged first last summer, but have been swept under the circle-jerking rug every single time]. The tail-end of the week brought further evidence of investors rotating into cyclical stocks. This had pushed the S&P 500 to a fresh record high at Thursday’s close as the market absorbed last week’s ‘as expected’ 25 bps Fed rate cut and its upward revision to US GDP forecasts. The slew of US data releases in the week ahead will be a strong determinate in how sentiment develops in the final weeks of the year. In an interview with the WSJ on Friday, President Trump indicated that both Warsh and Hassett remain in the running for the job as the next Fed Chair. Trump reportedly commented that he thought the next Fed Chair should consult him on interest rate policy, though Hassett over the weekend remarked that the job of the Fed is to be independent. The releases of Chinese retail sales, production, investment and home price data have already kicked off a heavy data week. Retail sales have disappointed with a weaker than expected 1.3% y/y upturn in November - the weakest reading since the pandemic. Chinese fixed asset investment also disappointed at -2.6% y/y ytd, which puts it on track to post the first full year drop since 1998. The weakness in property investment and new home prices compounded the weak tone and underpinned concerns about the challenges facing the Chinese economy in 2026. Ukraine President Zelensky conceded over the weekend that the country would be willing to give up its long-term goal of Nato membership if security guarantees from the US and Europe were a way to prevent future Russian aggression. US President Trump has issued Kyiv with a Christmas deadline to accept a peace deal. US Special Envoy Witkoff and Kushner, Trump’s son-in-law, arrived in Berlin yesterday for talks with Zelensky and German Chancellor Merz. The EU 27 will sit down for a summit on Thursday to discuss Ukraine, defence and its multiannual financial framework. Week ahead While the market consensus sees scope for another 50 bps of Fed rate cuts in 2026, the majority of G10 central banks are now expected to be tightening policy by the end of next year. Alongside the Fed, market pricing is also pointing to a 50-bps reduction in BoE rates by the end of 2026 in addition to 25 bps more easing by the Norges Bank. There is still a slight suspicion in the market that the SNB may return to negative rates next year. By contrast all other G10 central banks are expected to hike policy. At the start of last week, the ECB’s Schnable encouraged market hawks by her suggestion that she was comfortable with market bets on rate hikes. It is hoped that the rhetoric from the December 18 ECB policy meeting will bring some clarity to this view, though in terms of the policy announcement, a steady outcome is universally expected from the ECB this week. Indeed, it is Rabobank’s view that further easing this cycle would require a material downside surprise. For now caution will likely prevail, while policymakers continue to evaluate the impact on the Eurozone economy from US tariffs, France’s budget challenges and the competitive issues faced by Germany – not least this year’s firmer exchange rate. Although we expect steady policy throughout 2026, we have pencilled in two potential rate hikes in 2027 from the ECB. Steady policy is also expected from the Norges Bank on December 18, although further easing has been signalled by Norwegian policymakers this cycle. Steady policy is also expected to be on the cards from the Riksbank on the same day,…

Key Events This Very Busy Week: Jobs, Payrolls, CPI. Retail Sales And Central Banks Galore With just days left in 2025, it's an extremely busy week for global markets, with a dense calendar of economic releases and major central bank decisions, including from the European Central Bank, the Bank of England and the Bank of Japan, which as DB's Jim Reid writes, all have a chance to be Scrooges or Santas in their meetings this week. Alongside these announcements, the data flow will be heavy: the US will finally publish delayed employment and inflation reports, while flash PMIs for December and will provide clues on global momentum. Meanwhile, overnight, China' econ data dump came in worse than expected with both fixed investment, IP and Retail sales both missing. It’s also an interesting time for global markets with long-end yields at or around multi-month or even multi-year highs (e.g. Japan and 30yr Europe) at the same time as the weakest AI stories are increasingly being punished rather than the pre-September period when AI all went up together. If that wasn’t enough, another notable Fed story came late on Friday, as President Trump suggested that NEC Director Kevin Hassett and former Fed Governor Kevin Warsh were his two favored candidates for the Fed Chair role. Hassett has been viewed as the frontrunner in recent weeks but following Trump’s interview his Polymarket odds fell from around 73% late on Friday to 52% this morning. Warsh has gone from 13% before the interview to 40% this morning. So, it's fair to say there’s a lot of unfinished business going into the last full trading week of the year. For this week specifically, in the United States, attention will focus on tomorrow’s twin employment reports for October and November, delayed by the recent government shutdown. October’s headline payrolls are expected to show a decline of around -60k, largely due to federal layoffs with all the early year buy-out offers coming off payroll in October. November should rebound modestly with a gain of +50k (per DB). Private sector hiring is likely to remain steady in both months at around +50k (DB), slightly below the recent trend. The unemployment rate is forecast to rise to 4.5 per cent in November from 4.4 per cent in September (we will never know October), while average hourly earnings should increase by 0.3 per cent in both months, keeping year-on-year nominal compensation growth near 4.4 per cent. Hours worked are expected to stabilise at 34.3. Given the distortions caused by the shutdown, the household survey could be noisy, echoing patterns seen after the 2013 episode. For a cleaner read on labor market conditions, Thursday’s jobless claims will be important and given our economists believe this will come in at around +225k, they believe underlying hiring trends remain intact. Inflation will also be in focus with Thursday’s US CPI release. Because October data were not collected, the report will center on year-on-year changes. Headline CPI is expected to hold broadly steady at 3.03%, while core inflation remains at 3.02%. Monthly headline gains across October and November should average +0.24%, slightly below September’s pace with core slightly above at +0.26%. Within the details, core goods prices are likely to show modest increases in household furnishings and apparel, while used car prices continue to decline. Core services will attract particular attention, especially rents, which are expected to rebound after September’s anomalous weakness. Airline fares and lodging should soften from their recent highs, though health insurance may surprise on the upside. Beyond jobs and inflation, Tuesday’s retail sales report will offer insight into consumer spending. DB expects a headline decline of -0.3%, driven by autos and lower fuel prices, but retail control — the component used in GDP calculations — should rise by +0.3%, signalling resilience in underlying demand. Friday’s final reading of University of Michigan consumer…

Hammer Drops On Clintons: Appear For Epstein Depositions Or Face Contempt Of Congress Authored by Steve Watson via Modernity.news, House Oversight Chairman James Comer is done playing games with Bill and Hillary Clinton, warning them that their endless delays in the Epstein probe will lead straight to contempt charges if they don’t comply. With subpoenas issued months ago and the Clintons dodging every step, Comer’s latest ultimatum ramps up the pressure on the deep state darlings, exposing their ties to the convicted pedophile’s network amid calls for full transparency. As we reported last month, the Clintons outright refused to honor subpoenas demanding depositions on their connections to Jeffrey Epstein, prompting outrage from Republicans like Rep. Anna Paulina Luna who blasted Democrats for their sudden silence on the matter. The subpoenas, dropped in August by Comer, originally set Hillary’s testimony for October 9 and Bill’s for October 14. Instead of showing up, their lawyers begged for delays, only to ghost the committee entirely—classic stonewalling from elites who think rules don’t apply to them. Comer has repeatedly highlighted Bill Clinton as a “prime suspect” in the saga, pointing to over 20 flights on Epstein’s infamous Lolita Express, multiple jaunts to his private island, and at least 17 Epstein visits to the Clinton White House. These aren’t casual associations; they’re red flags screaming for accountability. Republican House leader signals plan to begin contempt proceedings against Bill and Hillary Clinton https://t.co/IKFORKWxdy — Fox News Politics (@foxnewspolitics) December 13, 2025 In a press release on Friday, Comer laid it all out: “It has been more than four months since Bill and Hillary Clinton were subpoenaed to sit for depositions related to our investigation into Jeffrey Epstein and Ghislaine Maxwell’s horrific crimes. Throughout that time, the former President and former Secretary of State have delayed, obstructed, and largely ignored the Committee staff’s efforts to schedule their testimony.” He didn’t stop there, adding a clear threat: “If the Clintons fail to appear for their depositions next week or schedule a date for early January, the Oversight Committee will begin contempt of Congress proceedings to hold them accountable.” A spokesperson for Comer doubled down to Fox News, confirming direct communication with the Clintons’ attorney: “We communicated to the Clintons’ attorney today that they must appear next week or provide a date in early January to appear for their depositions or we will begin contempt of Congress proceedings. They’ve been dragging their feet for over four months. Time’s up.” This escalation comes hot on the heels of President Trump’s bold demand for the total release of Epstein files, dismissing the whole scandal as a “Democrat Hoax” meant to smear Republicans while shielding their own. Trump urged House Republicans to vote for declassification, declaring, “We have nothing to hide, and it’s time to move on from this Democrat Hoax perpetrated by Radical Left Lunatics in order to deflect from the Great Success of the Republican Party.” Trump emphasized the need to keep the focus on GOP wins, warning that Epstein distractions shouldn’t overshadow them: “What I just don’t want is for Epstein to detract from the great success of the Republican Party… It’s a Democrat hoax.” The Clintons’ defiance couldn’t be more telling, especially given Bill’s own admissions in his 2024 book Citizen: My Life After the White House, where he confessed to flying on Epstein’s plane for Clinton Global Initiative work and lamented, “I wish I had never met him,” claiming it wasn’t worth the scrutiny. Yet, Epstein’s 17 White House visits right after Clinton’s 1993 inauguration paint a different picture—one of deep entanglements that demand answers, not excuses. Comer’s subpoenas didn’t stop at the Clintons; they targeted other heavyweights like former AG William Barr, ex-FBI Director Robert…

Chile Turns Hard To The Right: Tough-On-Crime, Anti-Immigration Candidate Easily Wins Presidency In an election where the decisive themes echoed mounting concerns in the Americas and Europe, a conservative who's vowed to crack down on illegal immigration and crime trounced his Communist opponent in Sunday's presidential election in Chile. The result confirms a major political current that now has many Latin American countries embracing right-wing politics. Jose Antonio Kast has promised to build physical barriers on the country's northern frontier (Esteban Felix - AP via El Pais) With 98% of the votes counted, 57-year-old José Antonio Kast was coasting to a 58%-to-42% clobbering of Jeannette Jara, a member of the Communist Party. Kast, a devout Roman Catholic and father of nine, will replace incumbent leftist President Gabriel Boric. It was Kast's third presidential bid. Underscoring the comprehensiveness of his victory, Kast won all of Chile's regions, including historic leftist strongholds. “Chile will be free from crime again, free from anguish, free from fear,” said Kast in a victory speech at his campaign headquarters in the capital city of Santiago. "Chile needs order." He assured supporters he would clamp down on criminals and "lock them up." Supporters displayed banners with slogans like "Bye-Bye Illegals" and "Play Time is Over." Jose Antonio Kast embraces his wife at a rally in Chile Crime weighed heavily in the contest, with 63% of Chileans saying it was their biggest worry. That's about double the global average. Illegal immigration (40%) is the second-biggest concern. The two worries go hand-in-hand, as a 50% surge in murders from 2018 to 2024 is largely the work of international criminal gangs. Chile has more than 300,000 illegal immigrants, many of them Venezuelan. At Kast's victory rally, supporters wore red "Make Chile Great Again" hats, and confirmed that crime helped flip the country into the right-wing country. "I grew up in a peaceful Chile where you could go out in the street, you had no worry, you went out and you never had problems or fear," 23-year-old engineering student Ignacio Segovia told Reuters. "Now you can't go out peacefully." Kast will take office in March. Guiding off the inauguration date, he has repeatedly warned illegals of how many days they to self-deport, before his administration kicks them out. Self-deporation, Kast has said, will give them the opportunity to bring their possessions with them, while avoiding detention. "If you don't leave voluntarily, we will detain you, retain you, expel you, and you'll leave with what you have on," said Kast. Kast's looming victory had already had a striking effect, with wary illegal immigrants surging into Peru -- so much so that Peruvian President Jose Jeri declared a state of emergency in late November. Meanwhile, authorities along Chile's border say illegal entries have plummeted. This is Chile as thousand celebrate the election of a right wing government. Finally defeating the Unity for Chile coalition which includes socialists & communists. Sick of crime, immigration & ideology, the people want their country back.pic.twitter.com/HMx0xbA8Mk — Bernie (@Artemisfornow) December 15, 2025 Writing on X, Argentinian President Javier Milei was exuberant about the "crushing victory" of Kast, whom he described as a friend, adding: "One more step for our region in defense of life, freedom, and private property. I am certain that we will work together so that America embraces the ideas of freedom and we can free ourselves from the oppressive yoke of twenty-first century socialism...!!!" Milei also posted a map depicting South America's large number of right-wing governments, saying, "The left retreats, freedom advances." Chile joins Argentina, Paraguay, Peru, Bolivia, Ecuador as countries with right or center-right governments. The Bolivian outcome earlier this year ended nearly 20 years of socialist rule. LA IZQUIERDA RETROCEDE LA LIBERTAD…