Everyone Talks About U.S. Debt But Europe May Be in Worse TroubleAmerica’s debt problem is impossible to miss. Federal debt has crossed $40.08T, another $1.9T deficit is expected this fiscal year and the 30-year Treasury yield is around 5.25%, its highest since 2007. Yet the next Western debt crisis may begin across the Atlantic. Washington has advantages that buy it time. The United States issues the world’s principal reserve currency, collects taxes through one federal government and sells debt through one enormous Treasury market. It can attract foreign capital and push part of the cost abroad. That does not make $40T harmless, but it can delay the reckoning. The eurozone has no comparable safety valve. It has one currency and one central bank, but 20 governments issuing their own debt, running separate budgets and answering to different voters. The ECB must set one monetary policy for economies with very different debts and growth rates. France shows why this is dangerous. Its 10-year bond yield has risen to about 4.15%, its highest since 2008 and now slightly above Italy’s. The European Commission expects a 5.1% French deficit this year and public debt near 120% of GDP by 2027. The problem can no longer be blamed on Greece or another small southern economy. France is the eurozone’s second-largest economy and one of the states meant to support rescue mechanisms for everyone else. If its debt starts trading like the old European “periphery,” the line between rescuers and rescued begins to disappear. Germany offers little comfort. Its 10-year yield is near 3.3%, a 15-year high, while its industry remains weak. Europe’s two central powers are paying more to borrow just as Brussels prepares another spending surge. The EU plans to mobilize up to €800B for rearmament. Member states must also finance ageing populations, expensive energy, social programs and support for Ukraine. Budget cuts provoke resistance. More borrowing raises yields. ECB intervention places more national debt risk onto the shared monetary system. The United States can abuse the dollar’s global role for longer. Europe may hit the wall first because it carries heavy debts without a genuine federal state standing behind them. One central bank cannot reconcile every national budget forever. So yes, America’s debt matters. But the louder surprise may come from a European Union that spent years presenting itself as the responsible alternative. Washington has a dangerous debt problem. Europe has the same problem inside a system poorly designed to survive it. No sympathy is required. Both created this predicament through wars, sanctions, subsidies and promises they can no longer finance cheaply. Now we get to see which model breaks first.

The Entebbe Rescue: The Mission That Changed History! This weekend (Jun 27-28) we marked 50 years to Operation Entebbe where Yonatan Netanyahu fell, one of the most daring rescue operations in modern history.

US military strikes drug boats in Pacific, 14 killed US forces carried out three separate strikes in the Pacific Ocean yesterday, targeting four boats involved in drug trafficking, War Secretary Pete Hegseth announced. The attacks resulted in the deaths of 14 people aboard the vessels. According to Hegseth, one person survived the operation and was rescued by Mexican authorities. The Pentagon described the strikes as part of an ongoing campaign to disrupt transnational criminal networks operating across maritime routes in the region.

DEATH TOLL FROM MYANMAR QUAKE CLIMBS TO MORE THAN 1K 2,376 people have been injured in the 7.7-magnitude earthquake, the largest to hit #Myanmar in more than a century. Special heavy machinery is now being used for search and rescue operations as electricity and Internet are down in parts of the country, including the capital Naypyidaw.

[BREAKING] IDF prepares to send medical rescue teams to Amsterdam 'In an unprecedented move, the IDF is preparing to fly and help with rescue & medical teams in Amsterdam' IDF spokesman: "Following the severe incidents of violence against Israelis in Amsterdam, under the guidance of the political echelon and following the assessment of the situation, the IDF immediately prepared to send out a rescue mission in coordination with the Dutch government. The delegation will leave in transport planes and will include medical and rescue teams. The Home Front Command is leading the rescue operation with the cooperation of the different arms, wings of the IDF and the security agencies. More details will be released as needed."

Iran: Tehran unveils blood-spattered mural proclaiming ‘no hostage will be released’ In a provocative move, authorities in #Tehran have unveiled a mural featuring blood-splattered images of Israeli hostages taken by Hamas on October 7th, accompanied by the Hebrew phrase “No #hostage will be released.” This mural, located in Palestine Square, was reported by Iran International and other local media outlets. Prominently displayed among the images is Noa Argamani, who, contrary to the mural's declaration, was rescued by #IDF forces in a June operation alongside three other hostages. As an ally of #Hamas, Iran has intensified its aggression, orchestrating two large-scale aerial assaults on Israel since the onset of the conflict. Furthermore, the regime has been implicated in efforts to recruit Israeli citizens for espionage and assassination activities on its behalf.

May Our Brothers in Arms Rest in Heaven! U.S. Central Command's Full Statement on two dead Navy SEALs: "We regret to announce that after a 10-day exhaustive search, our two missing U.S. Navy SEALs have not been located and their status has been changed to deceased. The search and rescue operation for the two Navy SEALs reported missing during the boarding of an illicit dhow carrying Iranian advanced conventional weapons Jan. 11 concluded and we are now conducting recovery operations. During this expansive search operation, airborne and naval platforms from the U.S., Japan and Spain continuously searched more than 21,000 square miles to locate our missing teammates. Search assistance was also provided by Fleet Numerical Meteorology and Oceanography Center, the U.S. Coast Guard Atlantic Area Command, University of San Diego – Scripts Institute of Oceanography, and the Office of Naval Research – Oceanographic Support. Out of respect for the families, no further information will be released at this time."