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Kremlin Makes Show Of Handing Evidence To US Side ‘Proving’ Ukrainian Attack On Putin Residence

Kremlin Makes Show Of Handing Evidence To US Side ‘Proving’ Ukrainian Attack On Putin Residence

The Kremlin has really made a big show for the cameras of handing over to American officials what it says is evidence that Ukrainian drones had attempted to strike Russian President Vladimir Putin’s residence in the Novgorod region Sunday night into Monday morning.

The international community has asked for evidence Putin’s residence was targeted, and Moscow has responded. Footage released by the Russian Defense Ministry on Thursday shows Igor Kostykov, head of the Main Intelligence Directorate of the Russian General Staff, meeting with the US defense attaché in Moscow and handing over what he identified as a “navigation unit” recovered from one of the drones shot down in Novgorod.

Russia has been on an information blitz, putting out images of downed drones and televised interviews of local Russian eyewitnesses to the drone waves early this week. But the ‘evidence hand-over’ to the US side is ultimately strong signaling aimed at President Trump.

Kostykov described that the “decryption of the content of the memory of the navigation controller of the drones carried out by specialists of Russia’s special services confirms without question that the target of the attack was the complex of buildings of the Russian president’s residence in the Novgorod region.”

MOMENT MoD hands over KEY data to US representatives

‘Decryption of navigation controllers… unequivocally CONFIRMED that target of attack was Russian President’s residence in Novgorod region’

Military Intelligence Chief Igor Kostyukov transfers info to America https://t.co/XTCEc08DyD pic.twitter.com/V7xKBsxldD

— RT (@RT_com) January 1, 2026

Putin had informed President Trump about the alleged incident on the day it occurred via phone call, and Trump initially appeared to accept Moscow’s version, expressing sympathy and saying he “wasn’t happy about it.” He followed by sharing a New York Post article which said Moscow “is the one standing in the way of peace.”

Russian Foreign Minister Sergey Lavrov said Moscow would not withdraw from peace talks with Washington, but would still adjust its negotiating stance and respond militarily, adding that potential targets had already been selected. “Such reckless actions will not go unanswered,” he said.

What might this response look like? Author and geopolitical pundit Glenn Diesen writes the following:

WSJ reports that Russia’s attacks on Odessa (ports, bridges, etc.) are cutting Ukraine’s economic lifeline. This was a predictable Russian response after Ukraine/NATO began using Odessa to target Russian civilian ships.

It is equally predictable that Russia will annex Odessa if there is no peace agreement that restores Ukraine’s neutrality and prevents Odessa from being used as a NATO front line. Our political-media establishment should learn about the security dilemma instead of cosplaying a the 1930s.

Diesen ends with this apt conclusion: “NATO is not ‘helping’ Ukraine by intensifying attacks on Russia, it is sacrificing Ukraine in the hope of bleeding Russia.”

Reporting in mainstream media indicates a US intelligence consensus which casts doubt on Ukrainian drones being intentionally sent against Putin’s residence; however, there does seem to be acknowledgement that a drone wave was active in the general area.

Putin’s residence at Valdai. Source: navalny.com

The below is conveyed from The Wall Street Journal report:

U.S. national-security officials said Wednesday that Ukraine didn’t target Russian President Vladimir Putin or one of his residences in an alleged drone operation, challenging Moscow’s assertion that Kyiv sought to kill the Russian leader.

That conclusion is supported by a Central Intelligence Agency assessment that found no attempted attack against Putin had occurred, according to a U.S. official briefed on the intelligence. The CIA declined to comment.

The U.S. found that Ukraine had been seeking to strike a military target located in the same region as Putin’s country residence but not close by, the official said.

The big question remains, if drones did target the residence, was the CIA involved in assisting with targeting information?

Tyler Durden
Fri, 01/02/2026 – 14:00

https://www.zerohedge.com/geopolitical/kremlin-makes-show-handing-evidence-us-side-proving-ukrainian-attack-putin-residence 

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Two men found with altered guns after high speed chase in Gary

A pair of men were found with guns altered to be fully automatic after a high-speed police pursuit and crash in the early morning hours on Christmas Day in Gary.

Jared Tomas Gonzalez, 25, of Gary, and Terrell Zair Samuels, 20, of East Chicago, are both charged with possession of a machine gun, a Level 5 felony, and misdemeanor resisting law enforcement by using a vehicle.

Around 2:28 a.m. on Dec. 25, a Griffith police officer spotted a maroon Honda CR-V without working tail and license plate lights near the 800 block of East Ridge Road, the probable cause affidavit states. Two men were visible in the vehicle, wearing hoodies, and they appeared to lean back in their seats as they drove past the officer. A police cruiser began to drive behind them and the officer activated the car’s emergency lights and siren, court records state. The Honda did not stop as it drove east on Ridge Road, reaching 91 mph as it approached Burr Street, 95 mph at Clark Street, and disregarding a red light at Chase Street.

The vehicle sped up to 98 mph when it tried to turn north onto Grant Street, but it lost control and crashed into a utility pole, activating the car’s airbags, records state. The officer ordered the men to stay inside the vehicle, but they immediately jumped into the back seat. They both were taken into custody by police, and Gonzalez had blood coming from his nose and mouth, which required medical treatment at a local hospital, the affidavit states.

Neither man answered when police asked if there were any guns inside the vehicle. On the driver’s side floorboard, police found a Glock Model 23 Gen 4 semi-automatic .40-caliber handgun, with a flashlight attachment, a live bullet in the chamber and a loaded magazine inserted, court records state. The gun had a “switch” modification, which can make the gun fully automatic. They also found a Glock Model 23 Gen 4 .40-caliber handgun on the passenger side floorboard, which also had a fully-automatic switch, records state. Police also found marijuana and two cell phones.

The Honda was owned by a man whose daughter let Samuels borrow it, the affidavit states. Samuels had posted a video on Instagram where he appears to be displaying one of the handguns retrieved from the Honda.

Samuels is currently wanted on an active arrest warrant, issued in December 2024, for a weapons offense out of Cook County, Illinois, court records state.

https://www.chicagotribune.com/2026/01/02/two-men-found-with-altered-guns-after-high-speed-chase-in-gary/ 

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Pretense, Staging, Expediency: The “Solutions” That Implode The Whole Shebang

Pretense, Staging, Expediency: The “Solutions” That Implode The Whole Shebang

Authored by Charles Hugh Smith via OfTwoMinds blog,

Slapdash quick fixes and policies share one characteristic: they eventually implode the whole shebang.

We all know how this works: the business is failing and the divorce papers have been filed, but the optics are ugly, so the couple waltzes in, all smiles and lovey-dovey, for who wants to explain how it all went wrong?

To paper over the inevitable reckoning, expediencies are deployed: money is borrowed but the loans are kept off the books, defaults are buried, the kids’ college fund is raided, promises that can’t be kept are made, and so on.

To maintain the illusion that all is well, everything is carefully staged. The failing business still churns out PR, the yard service keeps the front yard tidy, and the inability to pay the university tuition is explained away as a “gap year” as the eldest child seeks work experience to bolster their career opportunities, etc.

2026 is the year when all the “solutions” of Pretense, Staging and Expediency implode on every level: household, enterprise, local, state and national, for Pretense, Staging and Expediency are scale-invariant “solutions”: cooking the books, staging and hiding debt works for the state and nation just as well as it does for the sole proprietor and bankrupt household.

The only difference is the depth of the deviousness. The larger the organization, the greater the resources available to throw into Pretense, Staging and Expediency. So banks extend a new loan to borrowers who defaulted so they can make minimal payments, an expediency that enables the bank to keep the non-performing loan on the books as an asset in good standing.

Conventional economists are paid truckloads of cash to conjure up gamed statistics and bogus projections that act as eye-catching facades hiding the rotting mansion awaiting collapse.

The problem is Pretense, Staging and Expediency are not actual solutions. Since there’s no actual long-term plan to address the dire consequences of previous “solutions,” Pretense and Staging are deployed along with increasingly destabilizing Expediencies to mask the unintended consequences of slapdash quick fixes.

Policies touted as “solutions” that lack any consideration of the consequences are in effect Expediencies, as the first-order effects of policies that affect the entire system are hard enough to anticipate, while the second-order effects (consequences generate their own set of consequences) only unfold over time and cannot be fully anticipated.

Semantic / narrative-control Pretense and Staging are popular but self-defeating, as calling the risk-choked Shadow Banking System “private credit” doesn’t change the dominoes-falling house of cards nature of expediencies as they implode. (Thank you, correspondent Anthony A., for this example.)

Slapdash fixes / policies share one characteristic: they eventually implode the whole shebang when the failure of Pretense, Staging and Expediency to actually resolve structural problems becomes unavoidably obvious. Hope clings tenaciously to Pretense, Staging and Expediency, but when this faith in falsehoods and fakery finally expires, there’s no outrunning the consequences.

We’ll know things are serious when those in charge are reduced to relying on lies as their last-ditch cover story.

Alternatively, we’ll know things are serious when the AI chatbot declares all this is a fringe conspiracy theory and then three questions later, it’s recommending survivalist strategies of the fringe conspiracy theory variety.

*  *  *

My new book Investing In Revolution is available at a 10% discount ($18 for the paperback, $24 for the hardcover and $8.95 for the ebook edition). Introduction (free)

Check out my updated Books and FilmsBecome a $3/month patron of my work via patreon.comSubscribe to my Substack for free

Tyler Durden
Fri, 01/02/2026 – 13:40

https://www.zerohedge.com/markets/pretense-staging-expediency-solutions-implode-whole-shebang 

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Amazon seeks approval for retail center at 159th and LaGrange Road

Amazon is seeking to open a large retail space on the southwest corner of the busy 159th Street and LaGrange Road intersection in Orland Park, site of the former Petey’s II restaurant, village officials say.

The proposal includes demolishing the restaurant building that remains and constructing a one-floor, 229,000-square-foot commercial retail space and additional buildings on six outlot parcels to be added later, according to village reports. The project is slated for review Tuesday by the Plan Commission, and the Village Board may begin its discussion of the proposal later this month, Mayor Jim Dodge said Friday.

“We’re moving through the process quickly,” Dodge said.

He said the village has worked with Amazon to plan the development for several months.

Amazon’s proposal includes retail “of a wide selection of products, including groceries and general merchandise, with accessory services and potentially dining locations for prepared food sold on-site,” according to a special-use permit application.

Alongside the building would be 837 parking spaces and seven loading docks, according to the application. Amazon customers would be able to receive deliveries at the facility, and the site plan includes space for delivery drivers “to improve safety and meet the demands of modern online retail without sacrificing the in-store customer experience.”

Retail customers would enter through 159th Street, LaGrange Road or 161st Street while delivery drivers would enter through the south or west coming off of 161st Street and have a designated parking area south of the building.

Six acres would be dedicated to open and landscaped space, and Amazon plans to construct a stormwater detention area on the property, according to the plans.

The future of empty parcels near the 159th Street and LaGrange Road intersection has been a hot topic for the village, with the board moving forward with plans to relocate the gas station and add parking for the Costco at 9915 West 159th St. in September. Costco is funding construction of a roundabout on the property designed to help with traffic as the village continues developing the intersection.

On the southeast corner of the intersection, plans were submitted for 132 luxury apartments, a hotel and three restaurants in early 2024.

Dodge said developer interest for the 35-acre parcel has been high, with the village previously considering to zone it for mixed use including residential.

“It’s a prime spot to be developed,” Dodge said, and the mayor said he is “pleased to see it go commercial.”

But elevation changes and wetlands on the property mean extra hurdles.

Dodge said as development progresses, the village will consider financing options to move forward with plans to abate traffic by extending Ravinia Avenue east to connect to 161st Street, potentially rerouting 25% of the intersection’s eastbound right and northbound left-turning traffic. However, the Amazon facility could be completed before the road extension.

ostevens@chicagotribune.com

https://www.chicagotribune.com/2026/01/02/orland-park-amazon-retail-center/ 

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Woman rescued from second-floor apartment in Aurora during fire on New Year’s Day

A woman was rescued from the second floor of an apartment building during a fire in Aurora on New Year’s Day that left two units temporarily uninhabitable, according to the Aurora Fire Department.

On Jan. 1 at around 4:55 p.m., the fire department responded to a reported structure fire in the 300 block of Coventry Court on the city’s far East Side, according to a news release from the department.

Initial calls had indicated a stove fire, but additional callers reported visible smoke and an occupant possibly still inside an apartment, so the fire was upgraded to a second alarm while units were on their way.

Upon arrival, crews found smoke coming from the eaves of a two-story, eight-unit apartment building, the news release said.

A team found a woman trapped inside a second-floor apartment, so firefighters used a ladder to reach a window of the unit, made entry and carried her to safety, according to the fire department. Paramedics provided care at the scene and took her to a local hospital for further evaluation.

Crews encountered a frozen hydrant, the release said, but were able to establish an alternate water supply and extinguish the fire.

The fire was contained to the apartment it began in, but a neighboring unit sustained water damage, and both were deemed temporarily uninhabitable, the release said.

A dog from the apartment the fire occurred in was found unharmed and safely turned over to family members, officials said.

The fire’s cause remains under investigation, the fire department said.

https://www.chicagotribune.com/2026/01/02/woman-rescued-fire-aurora-new-years-day/ 

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Notre Dame’s Jordan Faison leaves lacrosse team to focus on football after a breakout season for receiver

Notre Dame wide receiver Jordan Faison, who has played in national championships with two Irish teams, will leave the lacrosse team to focus on football, the school confirmed Friday.

Faison led Notre Dame in receiving in 2025 with 49 catches for 640 yards and four touchdowns and also had 15 punt returns for 153 yards. It was a breakout junior season for Faison, who had 30 catches for 356 yards as a sophomore for the national runner-up Irish.

As a freshman, he won a national title with the lacrosse team, totaling 22 goals and eight assists. He had nine goals and five assists last season.

How Jordan Faison manages his ‘extraordinary’ 2-sport career — now as Notre Dame’s go-to receiver

Notre Dame lacrosse coach Kevin Corrigan told the Tribune in the fall that his team doesn’t ask anything of Faison during football season. In the spring, Faison had been doing most of his physical work with the lacrosse team but still took part in what he could with football.

Now, as Faison looks toward his football future, he will save all of his energy for that sport as the Irish look toward a better outcome in 2026. The Irish finished the 2025 season 10-2 but opted out of a bowl game after failing to make the College Football Playoff.

“There’s not very many that have done what he’s done,” Corrigan said of Faison in the fall, “in terms of competing at a championship level in two sports, contributing hugely to both teams, making big plays in big games and playing in the national championship in both sports. It’s remarkable.

“And more than anything else, we just celebrate it. Help him enjoy the journey because it’s an extraordinary thing that he’s doing.”

Faison’s younger brother, Dylan, is also a two-sport athlete who signed with Notre Dame this fall.

https://www.chicagotribune.com/2026/01/02/notre-dame-jordan-faison-football-lacrosse/ 

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Minnesota To Mandate K–12 Ethnic Studies Instruction In 2026

Minnesota To Mandate K–12 Ethnic Studies Instruction In 2026

Authored by Aaron Gifford via The Epoch Times,

In the coming weeks, school boards across the Land of 10,000 Lakes state will decide on curricula to meet ethnic studies mandates for the 2026–2027 academic year.

There appear to be limited alternatives to the free instructional materials developed with taxpayer dollars and endorsed by the state teachers’ union.

That curriculum instructs 6th graders to learn the 13 guiding principles of the Black Lives Matter movement; 7th graders on how protesters have breached federal buildings; and higher schoolers to “identify plans of action that people have used to resist, refuse, and create alternatives to oppressive systems,” according to the materials developed by the University of Minnesota’s Center for Race, Indigeneity, Disability, Gender and Sexuality Studies (RIDGS).

“Students will be able to explain how race is socially constructed and how that social construction has been used to oppress people of color, specifically in relation to Jim Crow, segregation, and racial covenants,” reads the description for the 11th and 12th-grade Jim Crow of the North course.

The Center of the American Experiment, a Minnesota-based education policy organization that opposes partisan and race-based curricula, is helping districts find politically neutral alternatives that it says are more like traditional social studies and history electives and less like social justice advocacy guidance.

“The words ethnic studies have been hijacked,” Catrin Wigfall, a policy fellow with the center, told The Epoch Times.

“But boards [of education] have more power in this than they might think.”

Additionally, state laws allow parents to review a curriculum and opt their child out of any instruction they find objectionable, in which case the school is required to provide alternative materials, Wigfall said.

The Minnesota Department of Education defines ethnic studies as an interdisciplinary area of instruction that “analyzes how race and racism have been and continue to be social, cultural, and political forces, and the connection of race to the stratification of other groups.”

The state law requires public schools to incorporate ethnic studies lessons in mandatory social studies courses across all grade levels, in addition to offering a stand-alone ethnic studies elective course for high school juniors and seniors.

In 2023, the Minnesota Department of Education stipulated that the ethnic studies context is expected to be embedded in other subject areas, including math, physical education, and health, as courses are periodically revised.

The Center of the American Experiment argues that those standards habituate angry, inaccurate, and “identity-first” ideological and political perspectives.

By definition, ethnic studies should focus on global histories, cultures, and religions, but the instruction pushed in Minnesota schools forces a polarizing and narrow political worldview, Wigfall said.

“It’s been a bait and switch campaign,” she said.

The center endorses the American Experience curriculum by the Foundation Against Tolerance and Racism, which Johns Hopkins has approved as a model for ethnic studies instruction, as a suitable alternative to the University of Minnesota’s instructional materials.

In addition, the 1776 Unites free curriculum focuses on historical stories that “celebrate black excellence, reject victimhood culture, and showcase African-Americans who have prospered by embracing America’s founding ideals,” according to its website.

Wigfall said her organization will work with school districts to navigate curriculum choices and the timetable for meeting state requirements across various subject areas.

The center isn’t advocating litigation over the mandate, but local education leaders, under federal Title VI provisions, have legal recourse if they are forced to foster a hostile learning environment under state requirements.

“It will be interesting to see what the rollout looks like,” she said. “When you emphasize tribalism, what does that do to knowledge development?”

Minnesota isn’t the only place grappling with debates surrounding ethnic studies mandates.

The California Department of Education strongly recommends the curricula, but has yet to require them.

The Defending Education parents’ organization recently reported that K–12 districts in 22 states spent more than $17.5 million since 2017 on “liberated” ethnic studies instruction.

Mitch Siegler, founder of the THINC Foundation, which promotes K–12 curriculum transparency and is closely monitoring California’s moves, said his situation is similar to Minnesota’s in that consultants and content creators focusing on such ethnic studies collaborate with districts and teacher unions to “promote the only game in town.”

THINC is developing alternative materials that emphasize civics and American history.

“Warts and all,” Siegler said in an email response to The Epoch Times. “And which teaches students to debate complex issues and disagree in an agreeable fashion. That’s a far cry from the ideological approach which the ‘liberated’ consultants advocate for.”

The Epoch Times reached out to the Minnesota Department of Education and the University of Minnesota’s Center for Race, Indigeneity, Disability, Gender, and Sexuality Studies.

Tyler Durden
Fri, 01/02/2026 – 13:00

https://www.zerohedge.com/political/minnesota-mandate-k-12-ethnic-studies-instruction-2026 

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Bad Bunny’s ‘Debí Tirar Más Fotos’ could make Grammy history

NEW YORK — The Puerto Rican superstar Bad Bunny has redefined what it means to be a global giant — and he may once again make history at the 2026 Grammy Awards.

The artist born Benito Antonio Martínez Ocasio is up for six awards at the Feb. 1 show, becoming the first Spanish-language artist to be nominated for album, song and record of the year simultaneously. His critically acclaimed album, “Debí Tirar Más Fotos,” is only the second Spanish-language record to be nominated for album of the year. The first? Well, that also belonged to Bad Bunny, 2022’s “Un Verano Sin Ti.”

Win or lose, experts say Bad Bunny’s Grammy nominations mark a symbolic moment for Latinos. Just a week later, after all, he’ll headline the Super Bowl halftime show.

Historic nominations reflect the cultural zeitgeist

Vanessa Díaz, associate professor of Chicano and Latino studies at Loyola Marymount University and co-author of “P FKN R: How Bad Bunny Became the Global Voice of Puerto Rican Resistance,” says Bad Bunny’s nods extend beyond his own art and serve as a “very welcome recognition of Latin music that is growing.”

“Music from the Spanish-speaking Caribbean has been shaping global music tastes since the 19th century,” adds Albert Laguna, associate professor of ethnicity, race and migration and American studies at Yale. “Bad Bunny is another link in a much longer chain of the popularity of Caribbean music on a global stage.”

Much of this music — particularly Latin trap and reggaetón, the genres Bad Bunny got his start in and continues to use in his new work — has been historically criminalized in Puerto Rico, not unlike hip-hop in the United States. Reggaetón in particular, Díaz points out, “comes from the most marginalized communities in Puerto Rico. And so, the fact that Bad Bunny is receiving nominations in three main categories, and this is an artist who came up with trap … is the most groundbreaking thing about the entire situation.”

Petra Rivera-Rideau, associate professor of American studies at Wellesley College and co-author of “P FKN R,” says that element is particularly noteworthy because institutions often ignore marginalized genres — including at the Latin Grammys, a sister award show to the Grammys.

A victory in the major categories could have “profound, symbolic meaning,” she says. But with a caveat: “I’m interested to see if this is going to open doors for other people.” After all, Bad Bunny himself isn’t immune to the Recording Academy’s institutional biases: He already has three career Grammys, but all have been in música urbana categories — despite the fact that he is the most streamed artist on the planet.

Local-to-global appeal that meets the political moment

Across “Debí Tirar Más Fotos,” Bad Bunny and his producers weave traditional Puerto Rican folkloric styles into a hyper-contemporary context. Latin trap and reggaetón aren’t abandoned but fused with música jíbara, salsa, bomba, plena and even aguinaldo, a kind of Christmas music, in “Pitorro de Coco.” While Bad Bunny’s previous albums also fused different genres — including bossa nova, mambo, rock, merengue and more — this album’s melange was more homegrown.

Laguna sees “Debí Tirar Más Fotos” as a direct challenge to the prevailing “formula for global pop stardom,” which he describes as an artist making it locally, gaining traction and then “watering down” their sound into something commercial and palatable for a global audience.

“Bad Bunny went in the opposite direction. It’s his most Puerto Rican album ever,” says Laguna. He hopes it will communicate to other artists that they, too, can look to their ancestry and history for artmaking.

“There’s so much amazing Latin music that has been overlooked and that’s part of what is so beautiful about this moment,” says Díaz. “And that’s why it feels like a win for all Latinos.”

ICE confirms it will patrol Bad Bunny’s Super Bowl show in February

The timing of the album’s release and recognition, too, feels consequential. “The U.S. has a history of othering Latinos, othering the Spanish language. … We’re in a moment where that feels extremely acute,” she continues. “For a community that is being targeted on such a deep level, it is a little bit of light, a little bit of faith that we can still carve out our place here.”

Latinos and the Spanish-speaking community in the U.S. have grown increasingly wary amid growing anti-immigrant sentiment and raids, as President Donald Trump’s immigration policies and executive actions have vastly expanded who is eligible for deportation and routine hearings have turned into deportation traps for migrants.

In an interview with i-D Magazine earlier this year, Bad Bunny mentioned that concerns around the mass deportations of Latinos factored into his decision not to tour in the continental U.S. (Hundreds of people have been detained in Puerto Rico itself since large-scale arrests began in late January.)

“The content of the lyrics — which are so steeped in the history of Puerto Rico, political histories, tourism and gentrification — there’s so much rich political and historical content,” Díaz adds. “This album is historic even without a Grammy win.”

With island prices rising, Chicagoan from Puerto Rico must delay dream of moving back

But if Bad Bunny does win, Díaz says, it will be “akin to Halle Berry being the first Black woman to win an Oscar. That was a watershed moment. Or Rita Moreno being the first Latina to win.”

Beyond that, Laguna says the politics of the album are not exclusive to Puerto Rican or even Latino identity — “the lyrics on this album align with global struggles,” he says. Take, for example, “Lo que le pasó a Hawaii” (“What happened to Hawaii”), a rallying cry for cultural autonomy in an era of neocolonialization.

The album’s multigenerational appeal

Rivera-Rideau says one of the reasons “Debí Tirar Más Fotos” has resonated is not just the political implications of using folkloric music in addition to música urbana, but its sound. The traditional genres are “a lot more digestible” to listeners who embrace the antiquated taboos surrounding Latin trap and scoff at reggaetón’s sexuality. As a result, the combination of sounds makes for an album that is “popular across generations,” she says.

Photos: Bad Bunny performs at the United Center

But it only works because it is “musically really interesting. If it was just traditional music, and that’s only what people cared about, it wouldn’t have done as well as it did,” she explains. “Musically, it is super innovative and makes accessible a lot of these older genres that people in Puerto Rico listen to, but he’s been able to globalize these very local genres in a way that no one else has.”

That intergenerational appeal was a feature of Bad Bunny’s landmark Puerto Rican residency, with the age and global diversity of its audience.

“A lot of people feel like this is a tense moment, it’s a difficult moment. And here’s someone giving us a sonic language in which to narrate this complex present,” Laguna says. “There’s pleasure, in political critique, that the music makes possible in a beautiful way. And I think that’s very much welcomed.”

https://www.chicagotribune.com/2026/01/02/bad-bunny-grammy/ 

Posted in News

US stocks rose again in 2025 after overcoming turbulence from tariffs and Trump’s fight with the Fed

NEW YORK — It was a scary good year for investors.

It was scary because the U.S. stock market plunged to several historic drops on worries about everything from President Donald Trump’s tariffs to interest rates to a possible bubble in artificial-intelligence technology. In the end, though, it was a great year for anyone with the stomach to stick through the swings.

S&P 500 index funds, which sit at the heart of many savers’ 401(k) accounts, returned more than 18% in 2025 through Dec. 11 and set a record high that day. It’s their third straight year of big returns.

Here’s a look at some of the surprises that shaped financial markets along the way:

Tariff tremors

Trump dropped the biggest surprise on “Liberation Day” in April, when he announced a sweeping set of tariffs that were more severe than investors expected.

It immediately triggered worries about a possible recession and spiking inflation. The S&P 500 plunged nearly 5% on April 3 for its worst day since the 2020 COVID crash. The very next day, it dropped 6% after China’s response raised fears of a tit-for-tat trade war.

The tariffs’ impact went beyond the stock market. The value of the U.S. dollar fell, and fear even shook the U.S. Treasury market, which is seen as perhaps the safest in existence.

Trump eventually put his tariffs on pause on April 9 after seeing the U.S. bond market get “queasy,” as he put it, which sent relief through Wall Street. Since then, Trump has negotiated agreements with countries to lower his proposed tariff rates on their imports, helping calm investors’ nerves.

Wall Street motored higher through a remarkably calm summer thanks to euphoria around artificial-intelligence technology and strong profit reports from companies. The market also got a boost from three cuts to interest rates by the Federal Reserve.

Trade worries can still cause havoc in markets, and Trump sent stocks spiraling as recently as October with threats of higher tariffs on China.

Trump and the Fed

Another surprise was how hard, and how personally, Trump lobbied to get the Federal Reserve to lower interest rates.

The Fed has traditionally operated separately from the rest of Washington, making its decisions on interest rates without having to bend to political whims. Such independence, the thinking goes, gives it freedom to make unpopular moves that are necessary for the economy’s long-term health.

Keeping interest rates high, for example, could slow the economy and frustrate politicians looking to please voters. But it could also be the medicine needed to get high inflation under control.

As inflation stubbornly remained above the Fed’s 2% target, the central bank kept rates steady through August. This drew Trump’s ire – even though it was his own trade policies that were driving fears about inflation higher.

Trump continuously picked on Fed Chair Jerome Powell, even giving him the nickname “Too Late.” Their tense relationship reached a head in July when Trump, in front of cameras, accused Powell of mismanaging the costs of a renovation of the Fed’s headquarters. Powell, in turn, shook his head.

Even though Wall Street loves lower rates, the personal attacks caused some queasiness in financial markets because of the possibility of a less independent Fed. Powell’s turn as Fed chair is set to expire in May, and the wide expectation is that Trump will choose a replacement more likely to cut rates.

Good but not first

“America first” didn’t extend to global markets. Even as U.S. stocks soared to another double-digit gain, many foreign markets fared even better.

The technology frenzy that helped fuel gains for the S&P 500 and the Nasdaq composite drove Korea’s KOSPI higher in 2025, enjoying its biggest gain in more than two decades. South Korea is a technology hub and companies including Samsung and SK Hynix surged amid the focus on artificial intelligence investments and advancements.

Japan’s Nikkei 225 had a double-digit gain for a third straight year. Besides the focus on AI and the technology sector, the gains were boosted in October and November following national elections and plans for a $135 billion stimulus package.

European markets also had a strong year. Germany’s DAX got a boost as the government announced plans to ramp up spending on infrastructure and defense, which could fuel economic growth in Europe’s largest economy.

The European Central Bank spent the first half of the year cutting interest rates, which helped give financial markets across Europe a boost. France’s CAC 40 was a laggard, up 10% as of Monday.

Crypto’s ups and downs

Even with a reputation for volatility, cryptocurrencies still managed to surprise market watchers.

Bitcoin dropped along with most other assets early in the year as Trump’s trade policies scared investors away from riskier investments.

The most widely used cryptocurrency roared back as the White House and Congress threw their support behind digital assets and the Trump family launched a number of crypto ventures. Retail investors joined in by pouring money into bitcoin ETFs, stock-like investments that allowed them to benefit from the run-up in price without having to actually store bitcoin in digital wallets. Some companies, notably Strategy Inc., made buying and holding crypto the crux of their business and their stocks jumped.

Bitcoin and hit a high around $125,000 in early October. But, almost as quickly, digital assets tanked as investors worried the prices for shining stars such as tech stocks and crypto had jumped too high. As of Monday afternoon, bitcoin traded around $89,400, down roughly 28% from the peak and 4% below where it started the year.

What’s ahead?

Many professional investors think more gains could be ahead in 2026.

That’s because most expect the economy to plod ahead and avoid a recession. That should help U.S. companies grow their profits, which stock prices tend to track over the long term. For companies in the S&P 500, analysts are expecting earnings per share to rise 14.5% in 2026, according to FactSet. That would be an acceleration from the 12.1% growth estimated for 2025.

But some of this year’s concerns will linger. Chief among them is the worry that all the investment in artificial-intelligence technology may not produce enough profits and productivity to make it worth it. That could keep the pressure on AI stocks like Nvidia and Broadcom, which were responsible for so much of the market’s gains this year.

And it’s not just AI stocks that critics say are too pricey. Stocks across the market still look expensive after their prices climbed faster than profits.

That has strategists at Vanguard estimating U.S. stocks may return only about 3.5% to 5.5% in annualized returns over the next 10 years. Only twice in the last 10 years has the S&P 500 failed to meet that bar, assuming this year ends without another sell-off.

At Bank of America, strategist Savita Subramanian says the S& P 500 could rise by less than half as much as profits do in 2026. She said that could be a result of companies reducing stock buybacks, as well as global central banks implementing fewer rate cuts.

Reporter Damian Troise contributed.

https://www.chicagotribune.com/2026/01/02/us-stocks-tariffs-fed/ 

Posted in News

New Year, New Chicago Bulls? 4 questions ahead of February’s NBA trade deadline.

The Chicago Bulls are preparing for the final sprint to the trade deadline.

From season to season, the NBA schedule always possesses certain rhythms. The weeks after New Year’s Day always adopt the same downhill momentum, gradually building speed as the entire focus of the league tumbles toward the Feb. 5 trade deadline. And for once, the Bulls could let themselves get caught up in the commotion.

The Bulls are already labeled as one of the most prolific sellers in this year’s trade market. This is certainly a change for a front office that once went three straight years without making a single in-season trade. The shift reflects the team’s goals since the summer — using this season as a transitional period to offload contracts and reset the books to take another crack at roster construction in the summer 2026.

There’s a gaping chasm, however, between being a seller and actually closing a deal. The Bulls have seven expiring contracts to potentially offload. Can they complete any of those moves? What should they expect in return? And can a flurry of trade activity actually build a foundation for the future?

Here are four questions for the Bulls ahead of the impending trade deadline.

1. Will injuries hurt Coby White’s trade value?

Bulls’ Coby White shoots the ball in the fourth quarter against the 76ers on Dec. 26, 2025, at the United Center. (Dominic Di Palermo/Chicago Tribune)

The Bulls spent years dodging a trade for Coby White. But if it’s time for a split to finally happen, the timing couldn’t be worse.

White has only played 16 games this season. He exited Monday’s loss to the Minnesota Timberwolves with yet another resurgence of the injury and the Bulls have shut him down for at least a week. It’s unclear when — or how — White will kick his lingering right calf discomfort despite fervent attempts by both player and team to mitigate the issue. His scoring hasn’t dipped in those few appearances, but the guard has struggled to rebuild his conditioning while shooting four percentage points below his career average from 3-point range.

A lingering injury won’t tank White’s overall valuation as a player. His reputation as a sturdy player remains strong in the league, which has operated with increased wariness as a whole surrounding calf injuries this year due to a spike in stars tearing their Achilles tendons. But White’s inability to stay healthy this season could complicate — if not fully derail — any attempts by the Bulls to trade the guard at the deadline.

For teams looking to buy, there is only one reason to make a bid for White: his immediate availability.

The guard will hit unrestricted free agency in the offseason. Any team interested in making a long-term commitment to White could simply wait for the summer. A trade deadline offer would need to come from a team that sees the guard as a valuable addition to their playoff campaign in 2026. But that’s a hard sell when a player has missed more than half the season and still hasn’t recovered from his original injury.

If the Bulls want to land this deal, White needs to get back on the court. He will be reevaluated on Wednesday, at which point there will be 14 games left before the trade deadline. If White participates — and looks like himself — in the majority of those games, then the Bulls shouldn’t have a problem finding a buyer for their guard. But another setback could undermine any faith in White’s ability to return for serious postseason basketball.

2. Who are the most tradeable assets on the Bulls?

Zach Collins prepares to record video clips during Bulls media day at the United Center on Sept. 29, 2025. (Eileen T. Meslar/Chicago Tribune)

Outside of White, the Bulls actually have a fairly diverse selection of tradeable assets — in part due to the relative success of that deadline move for Zach LaVine last February.

Although he’s often cited as a priority to trade, Nikola Vučević isn’t the asset he used to be in the waning months of his time in Chicago. That doesn’t mean the Bulls can’t move Vučević, but his main value on the market at this time would be the expiration date of his contract.

What the Bulls can offer between Vučević and the rest of their contracts are a series of interesting packages. The Bulls have a bevy of role players at their disposal — Kevin Huerter, Zach Collins, Ayo Dosunmu, Jalen Smith — who can be neatly parceled together. None of these players are enough to move the needle on their own — unless the Bulls are attempting a third consecutive player-for-player trade — but there are many combinations that could ultimately provide a much greater value as the sum of their parts.

(Not for nothing, Collins and Huerter were acquired in identical fashion last February. Huerter’s trade value has remained level, if not outright improved, as he returned to shooting form, while Collins’ continued streak of injuries might color his value as an otherwise athletic, physical center prospect.)

3. Is Josh Giddey on the table?

Bulls guard Josh Giddey sends up low-percentage shot against the Pacers defense in the fourth quarter at the United Center on Dec. 5, 2025, in Chicago. (John J. Kim/Chicago Tribune)

Not happening.

…unless?

No, seriously, not happening. The Bulls are building around Giddey, which is an important piece of framework to keep in mind when considering what the team will request in trades.

What do the Bulls need to build success around Giddey? Their top priorities likely include improved rim protection and above-the-rim offense, higher volume 3-point shooting and stalwart perimeter defenders. While Giddey is an effusive source of creativity with the ball in his hands, he could still use support in that department, especially if White is moved.

In turn, the Bulls certainly can’t afford to invest in more defensive liabilities. Even White — who has improved his defense to passable status — isn’t always the best pairing with Giddey due to the resulting lack of defensive resistance at the perimeter. This has been a clear priority with recent draft picks like Noa Essengue and Matas Buzelis, who are both prized for their defensive potential. That pattern must continue if the Bulls ever hope to obscure Giddey’s greatest weakness.

4. What returns should the Bulls prioritize?

Bulls executive vice president of basketball operations Artūras Karnišovas answers questions at a news conference during media day at the United Center on Sept. 29, 2025. (Eileen T. Meslar/Chicago Tribune)

The Bulls’ decision to stand pat at past trade deadlines wasn’t arbitrary. The front office is incredibly wary about the prospect of underselling its assets. This has backfired many times, perhaps most notably when the front office failed to clinch any deal for Vučević last February during the highest-value run of his Bulls tenure. Sometimes, turning down a “bad” deal means that a player ultimately walks for free.

This reticence reflects two key traits of the front office: a deep belief in the value of players currently on the roster and a deep fear of making a mistake. Those two traits, for better or worse, have defined the construction of the Bulls for five years. So how does a front office this wary of getting fleeced tackle a deadline in which they’re meant to be major players?

The key to surviving the next four weeks lies in making intentional priorities — and sticking to them.

This is not a time to go big game hunting. The Bulls need to reset their timeline. If they succeed in moving White, their center of gravity will be fully recalibrated around a 23-year-old (Giddey) and a 21-year-old (Buzelis) who are both under contract through at least the 2028-29 season. That’s the timeline. That’s the template.

There are — obviously — a few exceptions to this rule. Most of those exceptions are not available at this deadline or not accessible for the Bulls, i.e. the (recently cooled) Giannis Antetokounmpo sweepstakes. But in market’s current landscape, the Bulls need to look for young developing talent — whether that comes in the form of a draft pick or a very young active player.

This absolutely can (and should) translate to taking on bad contracts to acquire draft picks. The Bulls are in a decent position to absorb some dead money in exchange for future investments. (Again, seven expiring contracts.) But they can’t get caught up looking for a short-term solution that derails their long-term plan of development.

https://www.chicagotribune.com/2026/01/02/chicago-bulls-trade-deadline-questions/