Today's News with Larry Schweikart
TODAY'S NEWS, September 26-282026
Episode Summary
Trump’s latest moves center on the Xi summit, tighter immigration enforcement, legal and political battles, and efforts to reduce regulation and federal spending, while AI faces another major security failure. Economic indicators in the roundup point to stronger manufacturing, housing affordability, equity issuance, and record U.S. oil production, alongside a $30 billion U.S.-China tariff reduction deal. Internationally, Iran’s oil exports are described as collapsing while Hormuz traffic recovers, Germany doubles down on electrification despite weak growth, and tensions over migration, terrorism, and military service continue. The roundup also highlights Kennedy Center repair controversies, alleged COVID-fraud, and a Texas clinic owner convicted of using military health funds to buy a gold-plated Cybertruck.
Episode Notes
IN POLITICAL NEWS
- Trump-Xi summit: China reportedly agreed to freeze Iranian funds held in China.
- U.S.-Canada tensions: Mark Carney reportedly said Canada is preparing for a possible armed U.S. invasion, a claim the source mocks and contrasts with a U.S. military officer’s sarcastic response.
- DOGE case: A federal judge dismissed Attorney General James’ case against DOGE, according to the source.
- Missouri: The state launched an investigation into a Democratic fundraising organization over fraud allegations.
- Flock cameras: A brand-protection group is reportedly attempting to suppress publication of maps showing the locations of Flock surveillance cameras.
IN AI NEWS
- OpenAI: The company reportedly exposed 53 user images publicly after a rogue-agent incident, prompting it to freeze or pause affected systems.
IN ILLEGAL CRIMINAL ALIEN NEWS
- ICE strategy: The source highlights a shift toward less predictable, less publicly visible immigration enforcement under Tom Homan, citing an NYT report on an ICE surge. Dallas ICE reportedly arrested 121 people during a summer operation.
- ICE arrest authority: Trump reportedly overrode guidance limiting arrests primarily to people with prior criminal records and directed ICE to continue broader arrests.
- Secret Service: A CEO was arrested in connection with an alleged Russian scheme involving foreign nationals attempting to infiltrate the Secret Service.
- Banking: The roundup says Trump's immigration crackdown is pushing undocumented immigrants out of the U.S. banking system.
- Social Security data: The Supreme Court reportedly ruled that the government can use Social Security data to identify noncitizens for enforcement purposes.
IN CULTURAL NEWS
- Flying car: The Switchblade flying sports car reportedly has retractable wings that allow them to be concealed.
IN ECONOMIC NEWS
- Auto regulations: The Trump administration changed vehicle emissions rules with the stated goal of lowering new-car prices.
- Economic instability: The roundup points to analysis examining the broader costs and consequences of current economic instability.
- Federal spending: Trump reportedly canceled nearly $1 billion in federal spending without congressional approval, prompting commentary about Congress being absent.
- U.S.-China tariffs: The two countries announced a tariff-reduction arrangement covering roughly $30 billion in goods.
- Markets: A Goldman Sachs economist reportedly said equities are refusing to panic. The roundup points to stronger-than-expected August orders for durable goods and nearly 6% declines in home prices as supporting indicators.
- Equity issuance: U.S. equity issuance is reportedly surging to levels associated with previous market booms.
- Oil: U.S. crude production reportedly reached record levels.
IN INTERNATIONAL NEWS
- Netherlands: A Dutch MP warned about alleged Islamic grooming gangs following a reported sexual-assault case.
- England: Authorities reportedly thwarted a suspected terrorist attack involving vehicles approaching a U.S. bomber base, with five arrests.
- Hungary: Young Hungarians are reportedly resisting military conscription and showing little interest in a war with Russia.
- Strait of Hormuz: Oil traffic has recovered to roughly two-thirds of pre-conflict levels and is rising, while Iranian exports are reportedly near zero. The roundup says Iran used a one-month pause to export roughly 80 million barrels and argues its resulting cash reserves are now being depleted. Saudi Arabia has also restarted a Hormuz bypass pipeline.
- Germany/EU: Germany's new net-zero strategy reportedly emphasizes widespread electrification despite weak economic growth. The roundup disputes Germany's reported share of energy coming from electricity and notes EU pressure on Trump to keep diesel exports flowing.
IN ENTERTAINMENT NEWS
- Kennedy Center: Whistleblowers reportedly allege that repairs were deliberately delayed and that those delays are now being cited as a reason for the center's closure.
- NFL broadcasting: With Tony Romo away for alcohol rehabilitation, Tom Brady drew attention for bluntly criticizing Justin Herbert's interception, calling the throw a “meatball sub.”
IN MEDICAL NEWS
- COVID fraud: Federal investigators reportedly uncovered another $1.2 billion in suspected COVID-contract fraud.
AND FINALLY . . .
- Gold-plated Cybertruck: A Texas mental-health clinic owner was convicted of fraud after allegedly using military health-care payments to purchase a gold-plated Cybertruck.