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Authored by Lance Roberts via RealInvestmentAdvice.com, Last week, we discussed that the selloff heading into Christmas was the setup for the beginning of the year-end “Santa Claus” rally. On Christmas Eve, Santa arrived, pushing the markets back above the important 50-DMA. However, the market sold off on Friday to successfully retest the 50-DMA. While it may seem that the “Santa Rally” stalled, I suspect that we could see some buying next week as portfolio window dressing concludes and traders position portfolios in the first two days of January. As shown, momentum and relative strength are weak currently, but if the market can break back above the 20-DMA, this should bring buyers into the market. As we noted previously, the sell signal keeps a lid on price appreciation, and until that reverses, there is limited upside to the markets over this week. There is also the 24% possibility that a rally fails to materialize entirely. We suggest managing portfolio risk until the market ultimately makes a decisive move. We continue to monitor yield spreads, which remain near the lowest level since the “Financial Crisis.” When yield spreads were this low previously, this equated to excessive optimism about financial market conditions. This is the same currently, as investors are willing to overpay for the risk they are taking on. Unfortunately, such has not ended well previously, but yield spreads will be the leading indicator for investors to reduce portfolio risk more aggressively. For now, optimism remains high. But as we will discuss today, that is also a problem we need to monitor closely. In “ 2025 Predictions, “ we showed some early indications of Wall Street targets for the S&P 500 index, and, as is always the case, optimism for the coming year is very high. The median estimate is for the market to rise to 6600 next year, which would be a disappointing return of just 8.2% after two years of 20% plus gains. However, the high estimate from Wells Fargo suggests a 14% return, with the low estimate from UBS of just a 5% return. Notably, there is not one estimate available for a negative return. Interestingly, optimism for 2025 has taken on an interesting twist. Over the last two years of above-average returns, earnings growth has come from just the top-7 market capitalization companies in the S&P 500 index. However, analysts now expect earnings to shift from the bottom 493 companies in the index. The optimism in these assumptions is interesting because the economy has grown strongly over the last two years, yet those 493 companies could not grow earnings. What will change in 2025? Yes, President Trump has promised to extend the Tax Cuts and Jobs Act, but that doesn’t change the previous tax rate in the last two years. He has proposed to remove tax on tips and social security, but that impacts only a small percentage of the population. On the other hand, depending on the scale and areas of impact, deregulation could improve earnings, but much of that will have to be passed through Congress, which could prove difficult. The Federal Reserve hopes to continue to cut interest rates, but sticky inflation could slow that process, particularly if economic growth remains strong into 2025. Even if the economy continues to grow strongly, what will cause the shift in earnings growth from those dominant market players to much smaller companies? Such is particularly the case given the continued reversal of monetary liquidity in the economy, with higher borrowing costs and declining consumer savings rates. However, while analyst’s optimism about earnings growth in 2025 is high, which would take earnings well above the long-term growth trend, those estimates are already reversing toward reality. In the last six months, estimates have dropped by $3 per share and will likely be closer to $220 per share by next year. As shown, earnings tend not to deviate from the long-term trend for long, and typically, those deviations only occur during recessions and immediate recoveries. As discussed recently , if earnings revert toward the long-term trend, which should be expected given that earnings are a function of economic growth, the current valuations become more problematic. “While the bullish optimism is possible, that outcome faces many challenges in 2025, given the market already trades at fairly lofty valuations. Even in a “soft landing” environment, earnings should weaken, which makes current valuations at 27x earnings more challenging to sustain. Therefore, assuming earnings decline toward their long-term trend, that would suggest current estimates fall to $220/share by the end of 2025. This substantially changes the outlook for stocks, with the most bullish case being 6380, assuming a roughly 4.5% gain versus every other outcome, providing losses ranging from a 2.6% loss to a 20.6% decline.” But again, those assumptions are based on a continued moderation in economic growth. However, to justify the optimism for increased earnings growth, we must also expect that: Economic growth remains more robust than the average 20-year growth rate. Wage and labor growth must reverse (weaken) to sustain historically elevated profit margins . Both interest rates and inflation need to decline to support consumer spending. Trump’s planned tariffs will increase costs on some products and may not be fully offset by replacement and substitution. Reductions in Government spending, debt issuance, and the deficit subtract from corporate profitability (Kalecki Profit Equation). Slower economic growth in China, Europe, and Japan reduces demand for U.S. exports, slowing economic growt h. The Federal Reserve maintaining higher interest rates and continuing to reduce its balance sheet will reduce market liquidity. You get the idea. While optimism about economic and earnings growth is elevated going into 2025, there are risks to those forecasts. Such is particularly true when examining current economic data’s relative strength and trend. Subdued manufacturing activity, slowing GDP growth, and cautious consumer behavior all point to an economic environment less supportive of aggressive earnings growth. As such, investors must carefully navigate the disconnect between high Wall Street expectations and softening economic conditions. A better way to visualize this idea is to look at the correlation between the annual change in earnings growth and inflation-adjusted GDP. There are periods when earnings deviate from underlying economic activity. However, those periods are due to pre- or post-recession earnings fluctuations. Currently, economic and earnings growth are very close to the long-term correlation. Heading into 2025, real personal consumption expenditures (PCE) remain above real retail sales. While such deviations can occur, they tend not to remain that way long, given that retail sales comprise about 40% of PCE. Such suggests that in 2025, PCE will begin to converge with retail sales, resulting in slower economic growth rates. The following graph visualizes the plight of the average American by showing the “gap” between the cost of living and income and savings. To fund the current cost of living, consumers must spend all of their income and savings and then subsidize the remainder with almost $4000 in debt annually. This is why total consumer debt continues to rise, which does sustain economic activity in the near term. However, the longer-term impact is slower economic growth as consumers cannot take on excess debt. Also, if interest rates remain elevated, the impact on economic growth is exacerbated. So, if economic growth slows next year, as the Federal Reserve expects, why is Wall Street so optimistic? When Wall Street wants to make a stock offering for a new company, it has to sell that stock to someone to provide its client, the company, with the funds it needs. The Wall Street firm also makes a very nice commission from the transaction. Generally, these publicly offered shares are sold to the firm’s biggest clients, such as hedge funds, mutual funds, and other institutional clients. But where do those firms get their money? From you. Whether it is the money you invested in your mutual funds, 401k plan, pension fund, or insurance annuity, you are at the bottom of the money-grabbing frenzy. It’s much like a pyramid scheme – all the players above you are making their money...from you. In a study by Lawrence Brown, Andrew Call, Michael Clement, and Nathan Sharp, it is clear that Wall Street analysts are not interested in you. The study surveyed analysts from major Wall Street firms to understand what happened behind closed doors when research reports were being put together. In an interview with the researchers, John Reeves and Llan Moscovitz wrote: “Countless studies have shown that the forecasts and stock recommendations of sell-side analysts are of questionable value to investors. As it turns out, Wall Street sell-side analysts aren’t primarily interested in making accurate stock picks and earnings forecasts. Despite the attention lavished on their forecasts and recommendations, predictive accuracy just isn’t their main job.” The chart below is from the survey conducted by the researchers, which shows the main factors that play into analysts’ compensation. What analysts are “paid” to do is quite different from what retail investors “think” they do. “Sharp and Call told us that ordinary investors, who may be relying on analysts’ stock recommendations to make decisions, need to know that accuracy in these areas is ‘not a priority.’ One analyst told the researchers: ‘The part to me that’s shocking about the industry is that I came into the industry thinking [success] would be based on how well my stock picks do. But a lot of it ends up being “What are your broker votes?”‘ A ‘broker vote’ is an internal process whereby clients of the sell-side analysts’ firms assess the value of their research and decide which firms’ services they wish to buy. This process is crucial to analysts because good broker votes result in revenue for their firm. One analyst noted that broker votes ‘directly impact my compensation and directly impact the compensation of my firm.’” The question becomes, “ If the retail client is not the firm’s focus, then who is?” The survey table below clearly answers that question. Not surprisingly, you are at the bottom of the list. The incestuous relationship between companies, institutional clients, and Wall Street is the root cause of the ongoing problems within the financial system. It is a closed loop portrayed as a fair and functional system; however, it has become a “ money grab” that has corrupted the system and the regulatory agencies that are supposed to oversee it.MEXICO CITY — It would take years, if ever, for Mexico to accomplish what incoming U.S. President Donald Trump is demanding to avoid tariffs: stemming the flow of migrants and drugs over the border. That’s why Mexican President Claudia Sheinbaum’s efforts to avoid a full-blown trade war might be more about doing enough for both sides to claim success. Even a quick phone call — two days after Trump threatened 25% tariffs against his southern neighbor — seemed to change the tone: Trump said on social media that the Mexican president agreed to “stop people from going to our Southern Border, effective immediately.” Sheinbaum, meanwhile, assured her constituents that she touted to Trump Mexico’s existing approach to migration, which she stressed respects human rights, and that a new deal to collaborate would avoid new tariffs, without providing specifics. The whole exchange was reminiscent of Trump’s first term, when he threatened to send troops to shut down the border and then-President Andres Manuel Lopez Obrador responded by sending the national guard to help apprehend migrants. The move had a limited immediate effect, but sent a strong image that proved enough to at least avert tariffs of up to 25% on all imports from Mexico. Trump’s threats have a “dual objective,” said Palmira Tapia, a political scientist currently working for the government of the State of Mexico. The U.S. president-elect, she said, is simultaneously seeking to appeal to his constituents and strengthen his hand in talks on migration, drugs and trade. Sheinbaum also faces two challenges: She now must find a way to appease Trump to avoid tariffs that could hit 11% of Mexico’s gross domestic product, while also avoiding the perception — at home, and in the White House — that she will easily bend to demands from up north. “She’s talking to Trump, but she’s also talking to the Mexican public. It has to do with giving a dignified response before her voters, but at the same time trying to stop Trump,” said Catalina Perez Correa, a researcher at the Supreme Court’s Center for Constitutional Studies. “She’s saying, ‘I’m not going to let myself be stepped on by Trump.’ She’s saving face in front of the Mexican public.” Migration reality Mexico has long been a stomping ground for the U.S. when it comes to migration policy. It’s been tasked under successive U.S. presidents with beefing up its border security, increasing highway checkpoints and removing migrants from freight trains they often board. Even though migration rose far beyond the 2019 levels in the years after Lopez Obrador’s show of militarizing the border, Mexico has remained an at-times willing partner, accepting most of the millions of migrants who were quickly turned away from the U.S. border during the pandemic. But it hasn’t always been eager to help: The Biden administration often viewed AMLO, as the former president was known, as needing frequent reminders of its expectations for him on enforcement. In 2023, Biden Cabinet officials even visited AMLO in Mexico City just days after Christmas to urge him to do more as a record number of migrants reached the border. Under pressure from the White House during the U.S. election, Mexico helped it decrease border crossings by 65% over an 11-month period starting in December 2023. To do so, Mexican authorities have been detaining migrants in the north of the country and busing them south. There, they are forced to wait until they get an official appointment to apply for asylum in the U.S. — which can take months, if it ever happens at all. It’s all resulted in more than double the number of apprehensions of undocumented migrants between January and August compared with a year earlier, although Mexico has deported few. Experts have said that’s creating a humanitarian crisis in some of the southern cities where migrants are shipped off to. It’s also ratcheting up tensions with some locals, who argue that there aren’t enough jobs or resources to accommodate the newcomers. “What they’re doing now in Mexico is militarization of the border,” said Perez Correa. To further reduce border crossings into the U.S., Mexico could either carry out mass deportations or offer more opportunities to migrants in its territory. Both scenarios seem unrealistic. Simply increasing deportations would go against Lopez Obrador’s policy — which Sheinbaum inherited — of trying to address the problems in their origin countries that pushed them to leave, and it would be an expense for Mexico. After Sheinbaum’s call with Trump, she reiterated her government offers migrants options for international protection in its territory or “voluntary or assisted return” to their countries. The second option doesn’t seem feasible either: Most people want to go to the U.S., where they expect to have higher-paying jobs, more family or community support, and greater safety than in Mexico. Chemical diversions Deaths related to fentanyl — the cheap, synthetic opioid — have reached epidemic levels in the U.S. That’s why reining in the flow of the drug was on Trump’s list of demands. Should recent history be any indication, intervention is never simple. The U.S. arrest of a Mexican alleged drug leader has led to prolonged shootouts in recent months. And in any case, some academics argue simply confiscating more drugs means traffickers learn to produce more, to meet U.S. demand. So far, Mexico has worked to improve its technical capabilities to detect illicit substances at its ports, especially precursor chemicals and fentanyl. “The Navy has provided material and personnel to all ports for the fulfillment of these tasks, the personnel have the necessary training to be able to detect these substances,” said Captain Jose Barradas in an interview at the Manzanillo port, in the state of Colima. “All merchandise that arrives is prone to review under strict security protocols.” Sheinbaum also picked former Mexico City police chief Omar Garcia Harfuch to lead a new national security strategy, a move that was read inside Mexico as a signal of her willingness to increase enforcement in areas where the previous administration had been more hands-off. There’s more that could be done — but it would be hard. Trying to seize these substances at ports is insufficient because synthetic drugs tend to be very small, making them more difficult to detect than traditional drugs, said Victoria Dittmar, researcher at Insight Crime. Those who produce them often innovate with their recipes and use new chemicals that are not illegal. “Mexico can open collaboration paths with the private sector, with the chemical industry, because they know perfectly well its supply chains and the vulnerable areas where there could be diversions,” she said. “This collaboration is essential.” Mexico can also work to identify intermediaries that connect fentanyl producers with chemical suppliers abroad and in the country, people who work in certain companies and are authorized to divert these substances, according to Dittmar. Still, “the main weakness is not putting demand reduction as a priority, to prevent overdose deaths,” Dittmar said. “It’s a shared responsibility. It’s not just the fault of Mexico, the U.S. or Canada, but it’s an issue that affects the entire North American region.” A senior Mexican official said that the country’s actions to address drug trafficking have moved the nation in the direction of the fentanyl crackdown that Trump is demanding. The official cited a new law that will allow for coordinated intelligence efforts that is due to be implemented next year. History repeats It’s plausible that in the medium-term Trump will lower the intensity of his threats because a trade war would be the worst case scenario for both countries, said Tapia, the political scientist. But until then, she said, “Sheinbaum is on trial as to how well she will do” relative to her predecessor, who had a respectful relationship with Trump and often praised him. One strategy that Sheinbaum could pursue: Finding ways to give Trump the appearance of political victory. That was part of the rationale behind AMLO’s deployment of the National Guard — a move Trump still talks about now. “We got thousands of Mexicans patrolling our border free of charge,” he boasted at a recent event about his relationship with AMLO. “He’s a socialist,” Trump said. “But these are minor details.” ——— (With assistance from Eric Martin, Carolina Millan and Ramsey Al-Rikabi.) ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency, LLC.
SAN DIEGO, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Wolfspeed, Inc. (NYSE: WOLF) securities between August 16, 2023 and November 6, 2024. Wolfspeed is a global semiconductor company focused on silicon carbide materials and the fabrication of devices for power applications. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Wolfspeed, Inc (WOLF) Misled Investors Regarding its Revenue Projections According to the complaint, defendants provided the public with revenue projections that depended on the Mohawk Valley fabrication facility ramping its production to meet and/or exceed demand for its 200mm wafer product. Defendants provided these overwhelmingly positive statements to investors while, at the same time, concealing material adverse facts concerning the true state of Wolfspeed’s growth potential and, in particular, the operational status and profitability of the Mohawk Valley fabrication facility. First, to meet its publicly stated projections, the Company would have to cancel or otherwise indefinitely suspend planned future projects such as the facility in Saarland, Germany. Second, the Company would have to terminate a significant portion of its workforce (approximately 20%) and shutter the Durham fabrication facility. Plaintiff alleges that on November 6, 2024, Wolfspeed announced its financial results for the first quarter of fiscal year 2025 and unveiled guidance for the second quarter well below expectations. While defendants had repeatedly claimed that 20% utilization of the Mohawk Valley fabrication facility would result in $100 million revenue out of the facility, defendants now guided to a range 30% to 50% below that mark. The Company attributed its results and lowered guidance to “demand ... ramp[ing] more slowly than we originally anticipated” as “EV customers revise their launch time lines as the market works though this transition period.” On this news, Wolfspeed’s stock price fell from $13.71 per share on November 6, 2024, to $8.33 per share on November 7, 2024, a decline of about 39.24%. What Now: You may be eligible to participate in the class action against Wolfspeed, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by January 17, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders. To be notified if a class action against Wolfspeed, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6e2a3cda-6c15-4240-9c27-2fcf37e35629
CLEMSON, S.C. (AP) — South Carolina coach Shane Beamer has no doubt about where his surging, 16th-ranked Gamecocks belong in the postseason — chasing a national championship. “It's hard for me to say we're not one of the 12 best teams in the country,” a giddy Beamer said Saturday after watching his team pull off another late miracle, courtesy of quarterback LaNorris Sellers, to defeat No. 12 Clemson 17-14. Sellers scored his second touchdown , this one from 20 yards out with 1:08 to play, for South Carolina's sixth straight victory, four of them in that run coming over ranked opponents. Are you paying attention, College Football Playoff selectors? “If the committee's job is to pick the 12 best teams, you tell me,” Beamer said. It would be hard to pick against the Gamecocks (9-3, 5-3 SEC; No. 15 CFP) with Sellers, a confident, poised freshman, playing as well as he is. He finished with 166 yards rushing and 164 yards passing. Two games ago, he set career bests with 353 yards passing and five TD throws in twice rallying the Gamecocks from fourth-quarter deficits to defeat Missouri 34-30. This time, Sellers shrugged off his interception near Clemson's goal with less than 11 minutes left to lead his team to a field goal and then his game winner. Sellers spun away from defender Peter Woods in the backfield, broke through the line and cut left to reach the end zone. Sellers hears defenders get angry when they get their hands on but can't bring down the speedy, 6-foot-3 passer in his first year since taking over for Spencer Rattler. How does he do it? “I don't really know,” Sellers said. Beamer had an answer to that one, too. “He's a competitor, he's a warrior,” Beamer said. “He doesn't get too high or too low. He's out there having fun.” The Gamecocks hope to have more fun in a week so, confident they'll hear their name called among the expanded field of 12 that will play for a national crown. They know, too, they'll have Sellers leading the way. “He's a magician, man,” Gamecocks linebacker Demetrius Knight Jr. said. “LeMagic, LeComeback, whatever you want to call him.” Clemson (9-3, 7-1 ACC, No. 12) had a final chance and drove to the South Carolina 18 with 16 seconds left — well within reach of a tying field goal — when Cade Klubnik was intercepted by Knight to end things. The Gamecocks were 3-3 after losing at Alabama in mid-October and then pulled off their longest winning streak since 2012. The Tigers also were hoping to play their way into the CFP's 12-team field. But their offense had too many costly mistakes and their defense could not corral Sellers. “He's a great player and made great players,” Clemson linebacker Barrett Carter said. Still, there could be postseason hope for Clemson, which will cross its fingers and pray Syracuse can pull off an upset over No. 8 Miami later Saturday that would get the Tigers into the Atlantic Coast Conference title game next week against SMU. Both teams came in on highs, the Tigers having won three straight and the Gamecocks five in a row, including three consecutive over ranked opponents Texas A&M, Vanderbilt and Missouri. But neither team found its offensive rhythm in the opening half. Sellers was sacked by T.J. Parker and turned the ball over as Parker recovered with South Carolina inside the Clemson 20. The Tigers drove to the South Carolina 11 and turned down a chip-shot field goal to go for it on fourth-and-1. But Mafah was stopped way short by Jalon Kilgore and Knight. Klubnik had scoring runs of 13 and 18 yards for the Tigers. South Carolina: What a run by the Gamecocks, who before the season were picked 13th in the SEC and now may find themselves part of the national championship playoff field. Clemson: The Tigers lost to both ranked SEC opponents they faced this season, first to No. 1 Georgia to start the year and then to rival South Carolina. Tigers coach Dabo Swinney was proud of his team's regular season but knew the loss might leave it short of getting back to the playoff. “We could've had a great year,” he said. "We got better this season, a lot of positives to build on. “But this one is tough. It's tough. It hurts,” he continued. Shane Beamer knew what a big week it was when he got a voicemail from his old boss, former South Carolina coach Steve Spurrier. “Beamer, you're doing great,” said Spurrier, who coached the Gamecocks from 2005-2014. “This might be the biggest game in the history of South Carolina.” South Carolina and Clemson both await their postseason games. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-footballDaiwa Securities Group Inc. Acquires 1,027 Shares of National Health Investors, Inc. (NYSE:NHI)
West Lafayette, INDIANA — Imagine this: Two days before your family holiday party, you get a text about an online order you placed a week ago, saying the package is at your door. It comes with a photo – of someone else’s door. When you click the attached link, it takes you to the online store, where you enter your username and password. Somehow that doesn’t work, even though you answered your security questions. Frustrated, you call customer service. They tell you not to worry since your package is still on the way. You receive your package a day later and forget all about the earlier hassle. In the end, it was just a mistake. You are unaware of the terrifying thing happening in the background. You’ve fallen for a classic package-delivery scam , and a form of “ smishing ,” or SMS phishing. And you’re not alone. One in three Americans have fallen victim to cybercrime, according to a 2023 poll. That’s up from 1 in 4 in 2018. As cybersecurity researchers , we want to spread the word to help people protect themselves. Old-fashioned threats haven’t disappeared – identity thieves still steal wallets, dumpster dive for personal information and skim cards at ATMs – but the internet has made scamming easier than ever. Digital threats include phishing attacks that use fake emails and websites, data breaches at major companies , malware that steals your information , and unsecured Wi-Fi networks in public places. A WHOLE NEW WORLD OF SCAMS Generative AI – which refers to artificial intelligence that generates text, images and other things – has improved dramatically over the past few years. That’s been great for scammers trying to make a buck during the holiday season. Consider online shopping. In some cases, scammers craft deepfake videos of fake testimonials from satisfied “customers” to trick unsuspecting shoppers. Scam victims can encounter these videos on cloned versions of legitimate sites, social media platforms, messaging apps and forums. Scammers also generate AI-cloned voices of social media influencers appearing to endorse counterfeit products and create convincing but fraudulent shopping websites populated with AI-generated product photos and reviews. Some scammers use AI to impersonate legitimate brands through personalized phishing emails and fake customer service interactions. Since AI-generated content can appear remarkably authentic, it’s become harder for consumers to distinguish legitimate online stores from sophisticated scam operations. But it doesn’t stop there. “ Family emergency scams ” exploit people’s emotional vulnerability through deepfake technology. Scammers use AI to clone the voices of family members, especially children, and then make panic-inducing calls to relatives where they claim to be in serious trouble and need immediate financial help. Some scammers combine voice deepfakes with AI-generated video clips showing the “loved one” in apparent distress. These manufactured emergency scenarios often involve hospital bills, bail money or ransom demands that must be paid immediately. The scammer may also use AI to impersonate authority figures like doctors, police officers and lawyers to add credibility to the scheme. Since the voice sounds authentic and the emotional manipulation is intense, even cautious people can be caught off guard and make rushed decisions. HOW TO PROTECT YOURSELF Protecting yourself against scams requires a multilayered defense strategy. When shopping, verify retailers through official websites by checking the URL carefully – it should start with the letters “HTTPS” – and closely examining the site design and its content. Since fake websites often provide fake contact information, checking the “Contact Us” section can be a good idea. Before making purchases from unfamiliar sites, cross-reference the business on legitimate review platforms and verify their physical address. It’s essential to keep all software updated, including your operating system, browser, apps and antivirus software. Updates often include security patches that fix vulnerabilities hackers could exploit. For more information on the importance of software updates and how to manage them, check out resources like StaySafeOnline or your device manufacturer’s official website. Regular updates are a crucial step in maintaining a secure online shopping experience. Make sure you only provide necessary information for purchases – remember, no one needs your Social Security number to sell you a sweater. And keeping an eye on your bank statements will help you catch any unauthorized activity early. It may seem like another chore, and it probably is, but this is the reality of our digital world. To protect against family emergency scams, establish family verification codes, or a safe word, or security questions that only real family members would know. If you do get a distressed call from loved ones, remain calm and take time to verify the situation by contacting family members directly through known and trusted phone numbers. Educate your relatives about these scams and encourage them to never send money without first confirming the emergency with other family members or authorities through verified channels. If you discover that your identity has been stolen, time is critical. Your first steps should be to immediately contact your banks and credit card companies, place a fraud alert with the credit bureaus, and file a report with the Federal Trade Commission and your local police. In the following days, you’ll need to change all passwords, review your credit reports, consider a credit freeze , and document everything. While this process can be overwhelming – and extremely cumbersome – taking quick action can significantly limit the damage. Staying informed about AI scam tactics through reputable cybersecurity resources is essential. Reporting suspected scams to relevant authorities not only protects you, but it also helps safeguard others. A key takeaway is that staying vigilant is critical to defending against these threats. Awareness helps communities push back against digital threats. More importantly, it’s key to understand how today’s scams aren’t like yesteryear’s. Recognizing the signs of scams can provide stronger defense during this holiday season. And as you develop your threat identification techniques, don’t forget to share with your family and friends. Who knows? You could save someone from becoming a victim.This week marks the 10th Christmas Canadians have endured under Justin Trudeau’s Liberal government — 10 years of our Dec. 25-born prime minister acting as if he’s our very own personal Jesus, without the humility, common sense, or moral clarity his birthday might suggest. From the get-go, Trudeau’s been a means to an end for Liberal party power — a famous name, flowing hair, a convenient professionally-good-looking object many lonely Canadian wives cast their adoring gazes upon — but otherwise, intellectually and morally vacuous. Thankfully, there is a solution. Pierre Poilievre will bring the common sense and moral clarity Canada so desperately needs. On Christmas eve, Pierre Poilievre, leader of the Opposition, tweeted out a promise to Canadians and we should hold him to it: “I will defund wokism and fight antisemitism. And stand with our friends in Israel against terror.” It included a link to a statement from a telephone interview he gave last week to the Winnipeg Jewish Review . I will defund wokism and fight antisemitism. And stand with our friends in Israel against terror. https://t.co/hTEdzAPP14 In the statement , Poilievre did not mince words. He promised to “defund” “all of those with a woke anti-Semitic agenda.” His promise applies to “everything that the federal government controls,” and anyone “imposing a radical, terrifying, toxic ideology.” He promised to “fire government officials throughout (his) administration who are imposing a toxic woke ideology.” This would include universities, museums, and government-funded projects. “The (Canadian Museum of Human Rights) will be there to honour our history and to tell our stories, not to impose toxic woke ideologies against our people,” he assured the Winnipeg Jewish Review. Poilievre seems to inherently understand that a self-effacing people are not a people at all. Sadly, the same common sense cannot be attributed to Prime Minister Justin Trudeau who constantly apologizes for Canada and Canadians, whether it’s warranted to do so or not. As prime minister, Justin Trudeau will forever be known as Canada’s constant underminer. Poilievre, on the other hand, pointed out that he and his government would never fund antisemites, like Trudeau’s Liberals did when they awarded Laith Marouf’s advocacy group with more than $133,000, supposedly to combat racism. The total amount granted to Marouf was about $500,000. It was the same Laith Marouf who shamelessly took to social media to post : “You know all those loud mouthed bags of human feces, a.k.a. the Jewish White Supremacists; when we liberate Palestine and they have to go back to where they come from, they will return to being low voiced bitches of thier (sic) Christian/Secular White Supremacist Masters” and who boasted he’d form “Zionist-Hunter squads” among other colourful threats. Marouf was eventually fired from his government contract, but remained employed for a whole month after Diversity and Inclusion Minister Ahmed Hussen had been aware of Marouf’s extremism. You see, news of his extremism hadn’t hit the news yet. And no one appears to have been fired for hiring Marouf in the first place — a move Canadians can be confident Poilievre has the common sense and moral clarity to make. Other moral-clarity illustrating promises Poilievre made during his interview include: •Lifting the nonsensical ban on the sale of military equipment to Israel, •Reversing the Liberal government’s promise to arrest Israeli Prime Minister Benjamin Netanyahu as a war criminal, if he were to land on Canadian soil, based on the International Criminal Court’s ridiculous charge he was starving civilians as a method of warfare, while aid trucks were pouring into Gaza and being captured by Hamas, •And defunding UNRWA, which the Liberals disingenuously pretended to pause, and whose schools are known to indoctrinate Palestinian children to murder Jews and whose members are becoming harder and harder to distinguish from Hamas itself. Poilievre also promised to make Canada safer, by performing the much-needed security screening our current government apparently doesn’t deem necessary or finds boring. “We will also screen incoming immigrants” in an effort to ensure they “have no terrorist links,” he said on the call. He followed up with a promise to address what we’ve been seeing in our streets since October 7: “there will be a crackdown on all terrorist networks that Trudeau has allowed on our streets.” To accomplish this, he told Winnipeg Jewish Review that laws will be passed and serious consequences will be doled out. Tackling radicalism in the streets will no doubt prove tricky to pull off. But this strong message, one we could never expect from our current mealy-mouthed leader, will no doubt be appreciated by those tired and frightened by chants for “intifada” in our streets. It will take a common sense leader with moral clarity to, without apologies, return Canada to its rightful status of nation and to begin its redefinition. Because, if we as a nation fail to define ourselves, someone else, will happily do it for us. National Post tnewman@postmedia.com X: @TLNewmanMTL