Dec 282021
 
 December 28, 2021  Posted by at 9:45 am Finance Tagged with: , , , , , , , , ,  62 Responses »


Diego Velázquez The Spinners 1655-60

 

Covid Vaccines: Why They Cannot Work, And Their Causative Role In Deaths (D4CE)
Calls for New Medical Approaches to Mute Autoimmunity Must Be Addressed (PR)
In Reply To The Facebook Factcheck On My Dana Loesch Interview (Vanden Bossche)
Israel Sets Precedent With Fourth Booster Shot (RT)
Pfizer Antiviral Pill Could Be Risky With Other Widely Used Medications (Hill)
Danish Doctors Decry Merck’s COVID Pills, Refuse to Use Them (Sp.)
Protective Effect of Melatonin Administration against SARS-CoV-2 (MDPI)
Study Reveals How Covid Affects The Brain (RT)
Outpatient Treatments for COVID-19 Reviewed (Mercola)
Stop and Assess (Kunstler)
Pfizer Still Distributes Covid Vaccine Version Not Fully Approved By FDA (JTN)
US officials recommend shorter COVID isolation, quarantine
NASA Hired 24 Theologians To Study Human Reaction To Aliens (NYP)

 

 

 

 

Underreported
https://twitter.com/i/status/1475450844661399552

 

 

 

 

They lied

 

 

The autoimmunity issue comes to the foreground.

Sucharit Bhakdi, MD and Arne Burkhardt, MD. [..] a written summary of Dr. Bhakdi’s and Dr. Burkhardt’s presentations at the Doctors for COVID Ethics symposium that was live-streamed by UKColumn on December 10th, 2021.

Covid Vaccines: Why They Cannot Work, And Their Causative Role In Deaths (D4CE)

Why the vaccines cannot protect against infection A fundamental mistake underlying the development of the COVID-19 vaccines was to neglect the functional distinction between the two major categories of antibodies which the body produces in order to protect itself from pathogenic microbes. The first category (secretory IgA) is produced by immune cells (lymphocytes) which are located directly underneath the mucous membranes that line the respiratory and intestinal tract. The antibodies produced by these lymphocytes are secreted through and to the surface of the mucous membranes. These antibodies are thus on site to meet air-borne viruses, and they may be able to prevent viral binding and infection of the cells.


The second category of antibodies (IgG and circulating IgA) occur in the bloodstream. These antibodies protect the internal organs of the body from infectious agents that try to spread via the bloodstream. Vaccines that are injected into the muscle – i.e., the interior of the body – will only induce IgG and circulating IgA, not secretory IgA. Such antibodies cannot and will not effectively protect the mucous membranes from infection by SARS-CoV-2. Thus, the currently observed “breakthrough infections” among vaccinated individuals merely confirm the fundamental design flaws of the vaccines. Measurements of antibodies in the blood can never yield any information on the true status of immunity against infection of the respiratory tract. The inability of vaccine-induced antibodies to prevent coronavirus infections has been reported in recent scientific publications.

The vaccines can trigger self-destruction A natural infection with SARS-CoV-2 (coronavirus) will in most individuals remain localized to the respiratory tract. In contrast, the vaccines cause cells deep inside our body to express the viral spike protein, which they were never meant to do by nature. Any cell which expresses this foreign antigen will come under attack by the immune system, which will involve both IgG antibodies and cytotoxic T-lymphocytes. This may occur in any organ. We are seeing now that the heart is affected in many young people, leading to myocarditis or even sudden cardiac arrest and death. How and why such tragedies might causally be linked to vaccination has remained a matter of conjecture because scientific evidence has been lacking. This situation has now been rectified.


[..] Conclusion Histopathologic analysis show clear evidence of vaccine-induced autoimmune-like pathology in multiple organs. That myriad adverse events deriving from such auto-attack processes must be expected to very frequently occur in all individuals, particularly following booster injections, is self-evident. Beyond any doubt, injection of gene-based COVID-19 vaccines places lives under threat of illness and death. We note that both mRNA and vector-based vaccines are represented among these cases, as are all four major manufacturers.

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James Lyons-Weiler discusses the same issue.

Calls for New Medical Approaches to Mute Autoimmunity Must Be Addressed (PR)

Pathogenic priming, as originally described, is the act of exposing people (or animals) to epitopes that match human proteins, leading to the inducement of autoreactogenic antibodies that attack tissues anywhere in the body. I described pathogenic priming in April, 2020 and predicted that tissues across the body could become afflicted due to exposure to COVID-19 proteins. Evidence is mounting that points to pathogenic priming contributing morbidity and mortality among the vaccinated, including • Increased all-cause mortality • Histopathological evidence of autoimmunity across various organs. An important message, with data, came to me today on one of my many email threads. I am sharing this on Popular Rationalism with permission Ronald Kostoff, who fowarded the analysis below.

[..] Commenting on the above, Ronald wrote: “If the autopsy findings are confirmed by other pathologists with additional samples, and if they are combined with the findings of Dr. Hoffe (>60% inoculant recipients have elevated D-dimer tests and evidence of clotting) and Dr. Cole (increase in cancers after inoculation, including twenty-fold increase in uterine cancer), we are seeing a disaster of unimaginable proportions. The conclusion (if supported by further data) is that essentially EVERY inoculant recipient suffers damage, with more damage after each shot. The damage could be cumulative, and the shots may be synergistic. Given the seriousness of the types of damage (autoimmune diseases, cancer, re-emergent dormant infections, clotting/strokes, cardiac damage, etc.), these effects will translate into lifespan reduction, which should be counted as deaths from the inoculations.

So, in the USA, where ~200M people have been fully inoculated, the number of deaths will not be the 10,000 or so reported in VAERS, or 500,000-1,000,000 scaled-up deaths from VAERS, but could be closer to tens of millions (or more) when the inoculation effects play out! What the above three findings (Burkhart, Hoffe, Cole, and I suspect many others who have not yet come forward) show is that the post-inoculation effects are not rare events (as reported by the media-gov’t), but are in actuality frequent events. They may be, in fact, universal, with different degrees of severity and damage for each recipient. The question is whether it is possible to reverse these inoculation-based adverse events.

Can the innate immune system be fully restored? Can the microclotting be reversed? Can the autoimmunity be reversed? There is a wide spectrum of opinions on whether this is possible, none of which is overly convincing. Are we headed for the situation where the ~30% unvaxxed will be devoting their lives to operating whatever is left of the economic infrastructure and serving as caretakers for the vaxxed? The above sounds extreme, and maybe when more data are gathered from myriad credible sources the results and conclusions may change, but right now the above data seem to synchronize with the demonstrated underlying mechanisms of damage. Additionally, we seem to be doubling down on inoculations, with fourth booster being proposed for Israel, and UK suggesting quarterly boosters.”

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“I have always said that mass vaccination would cause more infectious variants to expand in prevalence and become dominant.”

In Reply To The Facebook Factcheck On My Dana Loesch Interview (Vanden Bossche)

Facebook wrote that my predictions of an ever-evolving virus, pressured by an ever-expanding population-level immune pressure caused by mass vaccination are wrong. I have always said that mass vaccination would cause more infectious variants to expand in prevalence and become dominant. Making it impossible for mass vaccination fanatics to ‘stay ahead of the virus’ as they always claim. The consecutive dominance of alpha, beta, gamma, delta and, more recently, the omicron variant is merely proof that my predictions have come true.

Even though the highly infectious Omicron does not seem to be highly virulent, there can be no doubt that continued mass vaccination campaigns that will soon use updated boosters against Omicron are at high risk of provoking ADE (antibody-dependent enhancement of disease) and will thereby dramatically enhance the incidence of severe disease in vaccinees. I have explained this in my most recent video message to the WHO, urging them not to allow vaccination against Omicron. (Second call to WHO: Please, don’t vaccinate against Omicron) Damania’s comments on my scientific analysis and predictions have already been proven void.

Furthermore, arguments he’s been trying to tease out from experts, like Paul Offit, have been seamlessly refuted in my interview with Del Bigtree (Geert Vanden Bossche Warns of Covid-19 Vaccination Catastrophe). Damania obviously has a big mouth, but has never been responsive to engaging in an open scientific debate, while being heavily paid to spout misinformation and misinterpretations on the evolutionary dynamics of this pandemic. Of which he clearly doesn’t understand due to his limited knowledge of virology, immunology and vaccinology. “Separating the wheat from the chaff” (Some guidance to separating the wheat from the chaff) is, therefore, a ‘must read’ for all those who are trying to find credible information enabling them to make informed decisions about their own health and that of their children. In that regard, cheap and hollow one-liners like those uttered by Damania are clearly not very helpful.

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Combine this with autoimmunity.

Israel Sets Precedent With Fourth Booster Shot (RT)

Israel has begun administering a fourth Covid-19 vaccine dose to triple-vaccinated test subjects. The Jewish state is already planning on offering an extra booster shot to the elderly and vulnerable. 150 medical workers at the Sheba Medical Center near Tel Aviv began receiving a fourth dose of Pfizer’s Covid-19 vaccine on Monday. These workers have all received three doses – an initial two plus a booster – already, and will be monitored for six months as researchers assess their antibody levels and monitor for potential side effects, CBS News reported. “Hopefully, we’ll be able to show here … that this fourth booster really provides protection against the Omicron,” Jacob Lavee, a professor at the prestigious hospital, told the Associated Press.


The trial is believed to be the first test of a fourth booster dose anywhere in the world, and comes at a time when the Omicron variant is rapidly becoming the dominant coronavirus strain worldwide. Although the new variant typically causes only mild to moderate symptoms in those it infects, it is believed to be highly transmissible, and studies have shown vaccines to be significantly less effective against it when compared to earlier variants. Israel was the first country on earth to vaccinate a majority of its citizens, and was one of the first countries in which the vaccines were shown to lose efficacy over time. Since then, the country has been an early trailblazer in administering booster shots, and around 45% of the Israeli population has received a third dose of the Pfizer shot.

Massie

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The Hill basically just posts Pfizer’s PR.

Pfizer Antiviral Pill Could Be Risky With Other Widely Used Medications (Hill)

The Food and Drug Administration (FDA) recently authorized two antiviral pills, one from Pfizer and one from Merck, making them the first at-home treatment for COVID-19 that has been touted as a game changer in the fight against the pandemic. However, experts told NBC News that the pills will require careful monitoring by doctors and pharmacists. While Pfizer’s Paxlovid has been authorized for use in children 12 and over with underlying health conditions including heart disease or diabetes, a component of the antiviral cocktail could have serious and life- threatening interactions with drugs including blood thinners, statins and depressants, NBC reported.

“Some of these potential interactions are not trivial, and some pairings have to be avoided altogether,” Peter Anderson, a professor of pharmaceutical sciences at the University of Colorado told NBC News. “Some are probably easily managed. But some we’re going to have to be very careful about,” he added. In a statement to The Hill, a Pfizer spokesperson said, “The potential for drug-drug interactions (DDI) for Paxlovid was examined in a series of in vitro studies, as well as clinical DDI studies.” The spokesperson further elaborated on the antiviral pill and said that Paxlovid is comprised of the active protease inhibitor Nirmatrelvir, as well as a low-dose of 100 mg of Ritonavir.

“Its effect on drug metabolism may result in drug interactions, and some drugs may be contra-indicated. However, in light of the fact that Paxlovid has a short duration of treatment of five days, combined with a low dose of Ritonavir of 100 milligrams, we believe that healthcare professionals should find most DDIs to be generally manageable,” the statement reads. “The product’s emergency use authorization fact sheets include information on drug interactions and contraindications. Healthcare providers should consider the potential for drug interactions prior to and during PAXLOVID therapy and review concomitant medications during PAXLOVID therapy,” the spokesperson added.

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“We think that the documentation basis is really, really flimsy. We are afraid that we will have to use a remedy that is ineffective at best and, at worst, jeopardises people’s treatment..”

Danish Doctors Decry Merck’s COVID Pills, Refuse to Use Them (Sp.)

Denmark has recently become the first EU country to approve a new COVID-19 treatment by the US pharmaceutical company Merck, but the decision has run into difficulties as the country’s general practitioners refuse to prescribe the treatment due to insufficient knowledge of how it works, calling it ineffective and potentially even harmful. The Danish Society for General Practice (DSAM), which is the professional community of general practitioners, has criticised the National Board of Health for its recommendations concerning COVID-19 treatment. Earlier, the Danish Health and Medicines Authority has approved the US drugmaker Merck’s anti-COVID pill molnupiravir, which also goes by the name Lagevrio, to treat at-risk patients with symptoms, making Denmark the first EU country to do so. So far, 50,000 pills have been purchased.

Explaining their reluctance to administer it, DSAM’s COVID-19 spokesman Anders Beich cited the drug’s poor documentation. “We think that the documentation basis is really, really flimsy. We are afraid that we will have to use a remedy that is ineffective at best and, at worst, jeopardises people’s treatment,” he told Danish Radio. According to him, patients may receive proper treatment too late. “There is a tendency to believe that once you have received your treatment, you will do well. It may be that both doctor and patient think that now the patient is in treatment. But if the treatment is ineffective, then you will waste time, and there is a risk that the disease will get worse without action being taken,” Beich mused.

The same criticism was echoed by Danish Medicines Agency, an independent council that makes recommendations to the regions on the use of various drugs. “We already have treatments that work for the group of patients where the pill is intended for use. Treatments that work much better and are documented much better than this pill,” chairman Steen Werner Hansen said. “So in the worst case, this would prevent some patients from getting a relevant treatment,” he concluded.

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I am not a fan of melatonin, but others are.

Protective Effect of Melatonin Administration against SARS-CoV-2 (MDPI)

Justification and Objectives: the serious health, social and economic consequences of COVID-19 have forced an urgent search for preventive methods, such as vaccines, among others, and therapeutic methods that could be alternatives to the drugs currently used. In this sense, it must be accepted that one of the most recommended has been the administration of melatonin. The present study proposes to carry out a systematic review of its possible role in the treatment and/or prevention of COVID-19.

Material and methods: a systematic review of the literature related to the prevention of COVID-19 through the administration of melatonin was carried out, following the sequence proposed by the Prisma Declaration regarding the identification and selection of documents, using the specialized health databases Trip Medical Database, Cochrane Library, PubMed, Medline Plus, BVS, Cuiden and generic databases such as Dialnet, Web of Science and Google Scholar for their retrieval. Appropriate inclusion and exclusion criteria are described for the articles assessed. The main limitation of the study has been the scarcity of works and the lack of defining a specific protocol in terms of dosage and administration schedule.

Results: once the selection process was completed, and after an in-depth critical analysis, 197 papers were selected, and 40 of them were finally used. The most relevant results were: (1) melatonin prevents SARS-CoV-2 infection, (2) although much remains to be clarified, at high doses, it seems to have a coadjuvant therapeutic effect in the treatment of SARS-CoV-2 infection and (3) melatonin is effective against SARS-CoV-2 infection.

Discussion: until group immunization is achieved in the population, it seems clear that we must continue to treat patients with SARS-CoV-2 infection, and, in the absence of a specific and effective antiviral therapy, it is advisable to continue researching and providing drugs that demonstrate validity based on the scientific evidence. In this regard, we believe that the available studies recommend the administration of melatonin for its anti-inflammatory, antioxidant, immunomodulatory, sleep-inducing, CD147, Mpro, p65 and MMP9 protein suppressing, nephrotoxicity-reducing and highly effective and safe effects.

Conclusions: (1) melatonin has anti-inflammatory, antioxidant, immunomodulatory, and Mpro and MMP9 protein-inhibitory activity. (2) It has been shown to have a wide margin of safety. (3) The contributions reviewed make it an effective therapeutic alternative in the treatment of SARS-CoV-2 infection. (4) Further clinical trials are recommended to clearly define the administration protocol.

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“In some instances, the virus stayed in “regions throughout the brain” for up to 230 days following symptom onset.”

Study Reveals How Covid Affects The Brain (RT)

The SARS-CoV-2 virus can within days move from the respiratory system into the brain, heart, and nearly every organ system in the body, and stay there for months, a new study says. A team from the US National Institutes of Health (NIH) described their research as the “most comprehensive analysis” to date of how the virus spreads through the human body. The results were published online on Saturday in a manuscript, which was submitted under review in the Nature journal. The scientists based their findings on autopsies of 44 patients who died after contracting Covid. The autopsies were performed between April 26, 2020 and March 2, 2021. “Our results collectively show while that the highest burden of SARS-CoV-2 is in the airways and lung, the virus can disseminate early during infection and infect cells throughout the entire body, including widely throughout the brain.”


The viral RNA was “widely distributed” even among patients who died with asymptomatic or mild cases of Covid, the researcher wrote. In some instances, the virus stayed in “regions throughout the brain” for up to 230 days following symptom onset. Ziyad Al-Aly, the director of the clinical epidemiology center at the Veterans Affairs St. Louis Health Care System in Missouri, told Bloomberg the study may provide an answer to why some patients suffer from so-called ‘long Covid’, when symptoms stay persistent for months. “For a long time now, we have been scratching our heads and asking why long Covid seems to affect so many organ systems. This paper sheds some light, and may help explain why long Covid can occur even in people who had mild or asymptomatic acute disease,” Al-Aly said.

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“You could draw blood and actually see the blood clotting very quickly in the tubes..”

“Since those early days, the disease seems to have changed considerably. We don’t see the high rates of blood clotting anymore..”

Outpatient Treatments for COVID-19 Reviewed (Mercola)

Dr. Pierre Kory is one of the leaders in the movement to provide early treatment for COVID infection. Kory is a critical care physician (ICU specialist), triple board certified in internal medicine, critical care and pulmonary medicine, and is part of the Frontline COVID-19 Critical Care Alliance (FLCCC), which was among the first to publish COVID treatment guidance. Kory spent most of his career at the Beth Israel Medical Center in Manhattan, New York, where he helped run the intensive care unit. He also had a busy outpatient practice. About six years ago, he was recruited to the University of Wisconsin Medical Center in Milwaukee, Wisconsin, where he led the critical care service. “When COVID hit, I was in a leadership position,” he says. “I resigned, because of the way they were handling the pandemic.”

University of Wisconsin Medical Center, like most hospitals across the U.S., insisted on providing supportive care only, and Kory refused to remain in a leadership position under those circumstances. Patients were, for the first time in modern medical history, told to just suffer at home until they were near death, then go to the hospital where they were placed on deadly ventilator treatment. “I knew there was a variety of treatments that we could use [yet] we were using nothing,” he says. Doctors were even told to not use anticoagulants, even though blood clotting was “through the roof” in many patients. “You could draw blood and actually see the blood clotting very quickly in the tubes,” he says. Since those early days, the disease seems to have changed considerably. We don’t see the high rates of blood clotting anymore, for example, which is good news.

But for some reason, from the very start, “they were literally telling us that we needed randomized controlled trials to do anything,” Kory says, and to this day, health authorities are refusing to acknowledge any treatment protocol outside of the drug remdesivir, and COVID vaccins. “People were dying, [yet] all of my ideas were getting shouted down. My superiors were showing up [to my clinical meetings] and getting me to stand down, because I was entertaining the idea that we should do this, that and the other thing, and they didn’t want anything to be done. And so, I said, ‘I’m done.’ I resigned mid-April 2020. I then went to New York for five weeks and ran my old ICU in New York.”

In May 2020, Kory testified before the U.S. Senate, stressing how critical it was to use steroids during the hospital phase of this infection. At that time, he was still employed by the University of Wisconsin. His resignation date had not yet happened, and they “were livid that I was speaking in public, giving my opinion.” This is remarkable, because when you’re an expert in a field, “you’re actually responsible to share your insight and expertise,” Kory says. “Yet they were very unhappy that I was doing that.” Seven weeks later, Kory was vindicated when the British Recovery trial results came out, showing the benefits of corticosteroids. Since then, steroids have become part of standard of care in the hospital phase.

Steroids are an effective tool for reducing inflammation in general, but they appear particularly important for advanced COVID infection. I had a close friend who contracted a very serious case of COVID-19 and kept worsening despite taking everything I suggested. He knew Dr. Peter McCullough, so he texted him and was told to add prednisone and aspirin to his current regimen. As soon as he took the prednisone, he started getting better. As explained by Kory, this is a common experience. Importantly, the evidence shows that when used early, during mild infection, corticosteroids do more harm than good. But once you are entering into moderate illness, as soon as you start to see lung dysfunction or the need for oxygen, steroids are critical and are clearly lifesaving.

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“And Dr. Fauci is beseeching the twice-vaxxed to go get boostered? Is he determined to wreck absolutely every immune system in the land?”

Stop and Assess (Kunstler)

Reality is penetrating the fog and fury of propaganda spewed out over cable-TV news in what may be the last desperate full-out campaign to sell “vaccines” to the credulous. Omicron is a bust, despite the shrieking about overstuffed hospitals (they’re not) in The New York Times. Just as there is a crack-up boom in the final stage of a financial crisis, there is a climactic surge of hysteria in the Covid-19 war against Western Civ. Now, Dr. Anthony Fauci is pushing proof-of-vaxx for US air travel because, “[a] vaccine requirement for a person getting on the plane is just another level of getting people to have a mechanism that would spur them to get vaccinated…” he laid it out on ABC News’s This Week show Sunday with Jonathan Karl.

Monday morning on NPR, Dr. Fauci was beating the drum about the unvaxxed being a menace to society as maxi-spreaders of omicron. Is it possible he hasn’t heard that the vaxxed are catching it at a greater rate despite their vaxxes than the unvaxxed? Do you know why? Because their previous vaxxes have de-tuned their immune systems, that’s why. By the way, so far, one death has been attributed to omicron in the US — and even that case is a muddle. And Dr. Fauci is beseeching the twice-vaxxed to go get boostered? Is he determined to wreck absolutely every immune system in the land? Kind of looks that way, a little bit.

I confess I am torn between two views of this fiasco. The first is that the notoriously incompetent Dr. Fauci and his colleagues (read RFK, Jr.s book) simply blundered through the Covid-19 disaster making a series of reckless choices, and about halfway through the crisis made the dastardly decision to cover-up their errors by doubling and tripling down on these mistakes. For instance, the policy to suppress and ban cheap and effective treatments that would have un-horsed their stupendously profitable “vaccines” from the emergency use authorization that got the mRNA cocktails into the public’s arms without proper testing. Some months down the road we will learn that this Fauci combine caused millions of people to die unnecessarily both from treatments withheld and from the adverse effects of vaxxes themselves.

The other view — that is becoming ever-harder to disregard — is that the Covid-19 pandemic was a deliberate program by a gang of powerful international adventurers to install a regime of surveillance and extreme control over formerly free citizens — all in the service of “re-setting” the ailing global financial system, reducing the population of elder pensioners to relieve the West’s payment obligations, and stifling industrial economies as a cure for climate change. It has sounded a little preposterous to me that such manifest evil, as otherwise seen only in James Bond movies and newsreels of the Nazis, could actually be true.

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Which can’t be mandated.

Pfizer Still Distributes Covid Vaccine Version Not Fully Approved By FDA (JTN)

Despite there being no chemical or ethical differences between Comirnaty and Pfizer-BioNTech, however, the FDA acknowledges the two “are legally distinct.” The agency explained in a statement to the Ohio Star that statutory authorities governing EUAs and biologics license applications, which are necessary for official FDA approval, “provide different legal requirements.” Those requirements, such as more paperwork for a full approval, mean the two products are labeled differently. Labeling differences, while important for the company, mean little in practice for those receiving the vaccine, explained Riley. But legal differences between the EUA-sanctioned and FDA-approved vaccines have potentially significant implications for vaccine mandates.

The Department of Defense, for example, mandates that service members become fully vaccinated against COVID-19 but directs that only FDA-approved vaccines be used for mandatory vaccination. (Service members may also volunteer to receive a EUA vaccination to meet the requirement.) And in Ohio, a recently signed law states that “a public school or state institution of higher education shall not … require an individual to receive a vaccine for which the [FDA] has not granted full approval.” Such measures have led to debates over the precise nature of the legal differences between the two types of vaccines — and whether FDA approval should legally be a limitation for vaccine mandates. R. Davis Younts, an attorney based in Lemoyne, Penn., who represents dozens of clients resisting vaccine mandates, said the government can’t compel people to take vaccines that have only been authorized under EUA.

“Government agencies do not have the legal authority to mandate any of the EUA vaccines,” Younts told Just the News. He explained how Section 564 of the Federal Food, Drug, and Cosmetic Act requires that vaccine recipients must be informed of “the option to accept or refuse” the product. Younts, focusing on military personnel, added that, in order to make an EUA drug mandatory, the president must issue a waiver under a certain federal statute. That statute states, “Administration of a product authorized for emergency use under section 564 … to members of the armed forces” requires informed consent absent a determination by the president that “complying with such requirement is not in the interests of national security.”

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The guidance just changes every day, on the fly.

US Officials Recommend Shorter Covid Isolation, Quarantine (AP)

U.S. health officials on Monday cut isolation restrictions for asymptomatic Americans who catch the coronavirus from 10 to five days, and similarly shortened the time that close contacts need to quarantine. Centers for Disease Control and Prevention officials said the guidance is in keeping with growing evidence that people with the coronavirus are most infectious in the two days before and three days after symptoms develop. The decision also was driven by a recent surge in COVID-19 cases, propelled by the omicron variant. Early research suggests omicron may cause milder illnesses than earlier versions of the coronavirus. But the sheer number of people becoming infected — and therefore having to isolate or quarantine — threatens to crush the ability of hospitals, airlines and other businesses to stay open, experts say.

CDC Director Rochelle Walensky said the country is about to see a lot of omicron cases. “Not all of those cases are going to be severe. In fact many are going to be asymptomatic,” she told The Associated Press on Monday. “We want to make sure there is a mechanism by which we can safely continue to keep society functioning while following the science.” Last week, the agency loosened rules that previously called on health care workers to stay out of work for 10 days if they test positive. The new recommendations said workers could go back to work after seven days if they test negative and don’t have symptoms. And the agency said isolation time could be cut to five days, or even fewer, if there are severe staffing shortages.

Now, the CDC is changing the isolation and quarantine guidance for the general public to be even less stringent. The change is aimed at people who are not experiencing symptoms. People with symptoms during isolation, or who develop symptoms during quarantine, are encouraged to stay home. The CDC’s isolation and quarantine guidance has confused the public, and the new recommendations are “happening at a time when more people are testing positive for the first time and looking for guidance,” said Lindsay Wiley, an American University public health law expert. Nevertheless, the guidance continues to be complex.

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Must be Christmas.

NASA Hired 24 Theologians To Study Human Reaction To Aliens (NYP)

Between heaven and Earth, where do aliens fit in? That’s the question that NASA hopes theologians at the Center for Theological Inquiry (CTI) in Princeton, New Jersey, can answer, in a recent effort to understand how humans will react to news that intelligent life exists on other planets. University of Cambridge religious scholar Rev. Dr. Andrew Davison, who also holds a doctorate in biochemistry from Oxford, is one of the 24 theologians enlisted to help with the project, the Times UK reported last week. In a recent statement on the University of Cambridge’s Faculty of Divinity blog, Davison says his research so far has already seen “just how frequently theology-and-astrobiology has been topic in popular writing” during the previous 150 years.

Davison’s upcoming book, “Astrobiology and Christian Doctrine,” due out in 2022, according to the Times, will cover part of CTI and NASA’s joint spiritual exploration, in which his “most significant question” is how theologians would respond to the notion “of there having been many incarnations [of Christ]” in the universe, he added in the blog post. This is the latest dispatch to come in a partnership between the US space agency and the religious institute. In 2014, NASA awarded CTI a $1.1 million grant to study worshippers’ interest in and openness to scientific inquiry called the Societal Implications of Astrobiology study. Studies have shown links between religiosity and belief in extraterrestrial intelligence.

Research published in 2017 found that people with a strong desire to find meaning, but a low adherence to a particular religion, are more likely to believe aliens exist — indicating that faith in either theory may come from the same human impulse. With NASA’s support, CTI’s director Will Storrar said they’d hoped to see “serious scholarship being published in books and journals” to come out on the subject, answering to the “profound wonder and mystery and implication of finding microbial life on another planet.” According to the Times, Davison’s book notes that a “large number of people would turn to their religions traditions for guidance” if extraterrestrials were found, and what that means “for the standing and dignity of human life.”

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A virus so strong that it can get past 3 vaccines but can’t get past your paw patrol mask.

 

 

Being in a minority, even in a minority of one, did not make you mad. There was truth and there was untruth, and if you clung to the truth even against the whole world, you were not mad.
– George Orwell, 1984

 

 

Billy Connolly – Politically correct – Was it something I said?

 

 

Elon Musk- Bill

 

 

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Sep 032021
 


Paul Klee Sicilian Landscape1924

 

 

We’ve been following, and reporting on, the travels and travails of mankind in virustime every single day for 20 months now, we’ve see our share of lies, denial, ignorance and incompetence. But there are still things that knock me off my feet. And it’s not even the sudden horse dewormer campaign the media started against ivermectin, that’s merely a surprise, as in: why now? Oh right, Joe Rogan is more popular than all of you put together…

Anyone who still believes a single thing either their governments or their media say is a fool on a hill. But not a lonely fool, it’s getting crowded on those hills. And we can ask ourselves how we got here till the cows have been home, fed and watered and out to pasture again, but it’s a little late for that now. We swallowed it all, and we continue to do so.

Still, as I said, there are some things left. The British Heart Foundation is a 60-year old reputable non-profit that spends some £100 million a year funding cardiovascular research by scientists around the UK. They are currently funding over 1000 research projects. One of those projects took place, or maybe is ongoing, at the University of Bristol. On August 28 2021, the British Heart Foundation published an article on this research.

It should have raised alarms all over the world, but it’s absolute crickets. It may not help that author Jennifer Mitchell herself doesn’t appear to understand the impact of what was found. She leaves the impression that this is mainly about the heart, and about Covid, while the implications are far more wide-reaching. She does mention that the problem is “all over the body”, but stops there.

All “vaccines” used in the west, Pfizer, Moderna, AstraZeneca and Janssen, work by inducing your cells to produce spike proteins, “found on the surface of Covid-19 virus”, 1 of 30 proteins contained in the coronavirus that causes Sars-Cov-2. These spike proteins bind to cells called pericytes, says the research, “which triggers a cascade of changes which disrupt normal cell function, and lead to the release of chemicals that cause inflammation.” “Even when the protein was no-longer attached to the virus.” Still don’t hear the five-alarm bells and see the red lights flashing?

 

Covid-19 Spike Protein Binds To And Changes Cells In The Heart

The spike protein found on the surface of Covid-19 virus cells causes changes to cells in the small blood vessels of the heart, according to research we funded presented at the European Society of Cardiology Congress. Researchers from the University of Bristol have found that the spike protein binds to cells called pericytes which line the small vessels of the heart.

This binding triggers a cascade of changes which disrupt normal cell function, and lead to the release of chemicals that cause inflammation. This happened even when the protein was no-longer attached to the virus. There is some previous evidence to suggest that the spike protein can remain in the blood stream after the virus has gone and travel far from the site of infection.

In this study, researchers only studied pericytes from the small blood vessels within the heart. However, pericytes are found within small blood vessels all over the body, including in the brain and central nervous system. This latest finding may start to help explain the effect of the virus on organs away from the site of the Covid-19 infection.

Researchers took small vessel cells from the heart and exposed them to the spike protein. They found that the spike protein alone was enough to disrupt normal cell function, and lead to the release of chemicals that cause inflammation. They then blocked the CD147 receptor and found that this prevented the spike protein from causing some of the changes to the cells. However, the inflammation continued.

Now the researchers hope to find out if a drug blocking CD147 in humans can help to protect people from some of the complications arising from Covid-19. Professor James Leiper, our Associate Medical Director, said: “Covid-19 has presented an unprecedented challenge for the cardiovascular research community. There is still a lot that is unknown relating to how the virus can impact our health in the long term, but this research brings us one step closer to better understanding how Covid-19 affects the heart and circulatory system and may ultimately lead to new ways to protect the heart.

Maybe the British Heart Foundation, and Jennifer Mitchell, and the University of Bristol simply don’t know that the vaccines induce your cells to produce spike proteins. Maybe they don’t know about micro blood clots. Maybe they are all just happily vaccinated. Maybe they only think in terms of the heart, and they don’t care about the brain and central nervous system. But even is that is all true, someone else must have picked this up, someone who understand what it means.

The spike proteins travel all through your body, through all your blood vessels, stick to their linings, and cause inflammation there. How would you like it if that happens to your brain, your heart, your lungs, your central nervous system? With no virus around? Remember, spike proteins are cytotoxic, they kill cells and/or turn them into spike protein factories, possibly for a long time. You don’t want these things in your body.

Yet, we inject millions of people every day with them, many two or even three times, and say this will make them safe. What do you think?

 

 

 

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May 042019
 


Raphael The transfiguration 1520

 

 

A few days ago, I received a video of an April 22 (Earth Day) lecture by my longtime friend Nate Hagens. Nate and I both owe a lot concerning our view and understanding of the world to Jay Hanson, who tragically died about a month ago on a diving trip in Indonesia. Many people have written and thought about issues of energy, or economics, or ecology; Jay brought it all together and, crucially, added the human brain and genetic properties to the mix.

Teaching at the University of Minnesota, Nate has greatly expanded on this big picture, and produces -among other things- a lot of video material for his students. Lucky them: a view with so much breadth and depth at the same time is exceedingly rare. What most people don’t get is that you can say: we can do so-and-so, but it’s mostly just in theory. In practice, our brains make us react much different from the theory. Because it’s not our “rational brain” that drives us, it’s our amoeba brain.

We have to work very hard, and be very self-critical, to escape the ‘trap’, that, as Nate formulates it, dictates that:

Thermodynamics, expressed through genetics, creates beings incapable of not maximizing energy consumption.

We can even wonder if we can escape it at all. Nate’s position on this is more positive than mine. So I guess if you follow the theoreticals, you’ll be more inclined to listen to him than to me. Because there’s more dopamine to be gotten there. And denial is our main engine.

Two pics from the video of Nate’s lecture which you can find below give an idea of what is our problem, at least the energy part of it:

One man with a chainsaw (powered by fossil fuels) can do the work of 100 men.

 

 

Which means that with about 5 billion of us in the global work force, our present day consumption of fossil fuels provides us with the labor subsidy of the equivalent of some 500 billion people.

 

 

A lot more of Nate’s video material can be found here and here (5 hours).

You can also visit Nate’s new site, Institute for the Study of Energy and Our Future.

 

And here are a few of his quotes:

• Things that can’t continue usually stop too late.

• Each time history repeats itself, the price goes up.

• While it digs its own grave, all the mind can do is entertain fantasies and create excuses.

• Meaning comes from understanding why we can understand there is no meaning.

• Thermodynamics, expressed through genetics, creates beings incapable of not maximizing energy consumption.

• All 8 billion of us owe our existence to a six-inch layer of topsoil and the fact it rains;
6 billion of us also owe our existence to nitrogen fertilizer created from natural gas by Haber-Bosch factories.

 

 

Dr. Nathan John Hagens worked on Wall Street at Lehman Brothers and Salomon Brothers and closed his own hedge fund in 2003 to pursue interdisciplinary knowledge about the bigger picture of modern society. Nate was the lead editor of the online web portal theoildrum.com, and is currently President of the Bottleneck Foundation and on the Boards of the Post Carbon Institute, Institute for Energy and Our Future, and IIER. Nate teaches at the University of Minnesota.

 

 

Nate Hagens:

Earth Day Talk, Stockholm Wisconsin, April 22, 2019

This is a story about our culture, arriving at a period I refer to as ‘The Great Simplification’. This story explains why things in the environment and social sphere are getting worse not better, and why we won’t en masse do anything meaningful until we get emotional cues to do so. Obviously this is a bit of a buzzkill to hear about – especially on a nice spring day – but imo we have to understand the current game board and rules if we’re to make good ‘game moves’ as future events arrive. The more people who are aware of – and start to engage on – the choreography of these issues in their communities and in their own lives, the higher the chances of a networked, creative response will be. My hope with these and other videos is to change the initial conditions of these future events in a positive way. Because we have a lot to lose -and also gain.

 

 

If the video doesn’t show in your mail, please go to the article on the Automatic Earth site.

 

 

 

 

Dec 192014
 
 December 19, 2014  Posted by at 11:21 am Finance Tagged with: , , , , , , , ,  4 Responses »


John Vachon Trucks loaded with mattresses at San Angelo, Texas Nov 1939

Oil Crash Exposes New Risks for U.S. Shale Drillers (Bloomberg)
North Sea Oil Industry ‘Close To Collapse’ (BBC)
North Sea Oilfields ‘Near Collapse’ After Price Nosedive (Telegraph)
Exxon Mobil Shows Why U.S. Oil Output Rises as Prices Plunge (Bloomberg)
Central Banks Are Now Uncorking The Delirium Phase (David Stockman)
Dow’s 421-Point Leap Is Biggest Gain In 3 Years (MarketWatch)
Already Crummy US Economy Takes a Sudden Hit (WolfStreet)
The Fed Delivers the Message that Our Economy is Dead (Beversdorf)
Emerging Markets In Danger (Erico Matias Tavares)
China’s Short-Term Borrowing Costs Surge as Demand for Money Grows (WSJ)
PBOC Offers Loans to Banks as Money Rate Jumps Most in 11 Months (Bloomberg)
Russia May Seek China Help To Deal With Crisis (SCMP)
Draghi Counts Cost of Outflanking Germany in Stimulus Battle (Bloomberg)
Federal Reserve Delays Parts Of Volcker Rule Until 2017 (BBC)
“Neoconica” – America For The New Millennium (Thad Beversdorf)
Bombs Away! Obama Signs Bill For Lethal Aid To Ukraine (Daniel McAdams)
US TV Shows American Torturers, But Not Their Victims (Glenn Greenwald)
Pope Francis Scores on Diplomatic Stage With U.S.-Cuba Agreement (Bloomberg)
Can You Live A Normal Life With Half A Brain? (BBC)

“It’s just the nature of the business. You’re not going to go drill holes in the ground if you think prices are going down.”

Oil Crash Exposes New Risks for U.S. Shale Drillers (Bloomberg)

Tumbling oil prices have exposed a weakness in the insurance that some U.S. shale drillers bought to protect themselves against a crash. At least six companies, including Pioneer Natural Resources and Noble Energy, used a strategy known as a three-way collar that doesn’t guarantee a minimum price if crude falls below a certain level, according to company filings. While three-ways can be cheaper than other hedges, they can leave drillers exposed to steep declines. “Producers are inherently bullish,” said Mike Corley, the founder of Mercatus Energy Advisors, a Houston-based firm that advises companies on hedging strategies. “It’s just the nature of the business. You’re not going to go drill holes in the ground if you think prices are going down.”

The three-way hedges risk exacerbating a cash squeeze for companies trying to cope with the biggest plunge in oil prices this decade. West Texas Intermediate crude, the U.S. benchmark, dropped 50% since June amid a worldwide glut. The Organization of Petroleum Exporting Countries decided Nov. 27 to hold production steady as the 12-member group competes for market share against U.S. shale drillers that have pushed domestic output to the highest since at least 1983. Shares of oil companies are also dropping, with a 49% decline in the 76-member Bloomberg Intelligence North America E&P Valuation Peers index from this year’s peak in June. The drilling had been driven by high oil prices and low-cost financing. Companies spent $1.30 for every dollar earned selling oil and gas in the third quarter, according to data compiled by Bloomberg on 56 of the U.S.-listed companies in the E&P index.

Read more …

450,000 people work in Britain’s oil industry.

North Sea Oil Industry ‘Close To Collapse’ (BBC)

The UK’s oil industry is in “crisis” as prices drop, a senior industry leader has told the BBC. Oil companies and service providers are cutting staff and investment to save money. Robin Allan, chairman of the independent explorers’ association Brindex, told the BBC that the industry was “close to collapse”. Almost no new projects in the North Sea are profitable with oil below $60 a barrel, he claims. “It’s almost impossible to make money at these oil prices”, Mr Allan, who is a director of Premier Oil in addition to chairing Brindex, told the BBC. “It’s a huge crisis.” “This has happened before, and the industry adapts, but the adaptation is one of slashing people, slashing projects and reducing costs wherever possible, and that’s painful for our staff, painful for companies and painful for the country. “It’s close to collapse. In terms of new investments – there will be none, everyone is retreating, people are being laid off at most companies this week and in the coming weeks. Budgets for 2015 are being cut by everyone.”

Mr Allan said many of the job cuts across the industry would not have been publicly announced. Oil workers are often employed as contractors, which are easier for employers to cut. His remarks echo comments made by the veteran oil man and government adviser Sir Ian Wood, who last week predicted a wave of job losses in the North Sea over the next 18 months. The US-based oil giant ConocoPhillips is cutting 230 out of 1,650 jobs in the UK. This month it announced a 20% reduction in its worldwide capital expenditure budget, in response to falling oil prices. Other big oil firms are expected to make similar cuts to their drilling and exploration budgets. Research from the investment bank Goldman Sachs predicted that they would need to cut capital expenditure by 30% to restore their profitability at current prices. Service providers to the industry have also been hit. Texas-based oilfield services company Schlumberger cut back its UK-based fleet of geological survey ships in December, taking an $800m loss and cutting an unspecified number of jobs.

Read more …

“The prolongation of the downward trend of the oil price in world markets is a political conspiracy going to extremes.”

North Sea Oilfields ‘Near Collapse’ After Price Nosedive (Telegraph)

The North Sea oil industry is “close to collapse”, an expert has warned, as a slump in prices piles pressure on drillers to cut back investing in the region. Robin Allan, chairman of the independent explorers’ association Brindex, told the BBC that it is “almost impossible to make money” with the oil price below $60 per barrel. “It’s a huge crisis. This has happened before, and the industry adapts, but the adaptation is one of slashing people, slashing projects and reducing costs,” he said. Mr Allan’s glum outlook for oil production and exploration in the UK Continental Shelf came on a volatile day of trading for crude. Brent – a global pricing benchmark comprising crude from 15 North Sea fields – ended trading in London down 1% at around $60 per barrel after trading up by as much as 3% earlier in the session. Mr Allan’s warning comes after The Telegraph reported that £55bn worth of oil projects in the North Sea and Europe could be cancelled due to the current slide in prices, according to consultancy Wood Mackenzie.

Concern over the ability of the North Sea to endure the current downturn has increased since OPEC decided to keep pumping at its current rate of 30m barrels per day (bpd) in late November. Opec kingpins Saudi Arabia and Iran were at odds on Thursday over the reason behind falling prices in an indication of the pain being caused to many of the cartel’s 12 members. Iran’s oil minister has said that a “political conspiracy” is to blame for the dramatic slump in remarks which could signal that the Islamic Republic will try to exert pressure on Opec to again consider cutting output. Bijan Zanganeh told the country’s state petroleum news agency: “The prolongation of the downward trend of the oil price in world markets is a political conspiracy going to extremes.”

Read more …

“Companies that are already producing oil will continue to operate those wells because the cost of drilling them is already sunk into the ground ..”

Exxon Mobil Shows Why U.S. Oil Output Rises as Prices Plunge (Bloomberg)

Crude oil production from U.S. wells is poised to approach a 42-year record next year as drillers ignore the recent decline in price pointing them in the opposite direction. U.S. energy producers plan to pump more crude in 2015 as declining equipment costs and enhanced drilling techniques more than offset the collapse in oil markets, said Troy Eckard, whose Eckard Global owns stakes in more than 260 North Dakota shale wells. Oil companies, while trimming 2015 budgets to cope with the lowest crude prices in five years, are also shifting their focus to their most-prolific, lowest-cost fields, which means extracting more oil with fewer drilling rigs, said Goldman Sachs. Global giant Exxon Mobil, the largest U.S. energy company, will increase oil production next year by the biggest margin since 2010.

So far, OPEC’s month-old bet that American drillers would be crushed by cratering prices has been a bust. “Companies that are already producing oil will continue to operate those wells because the cost of drilling them is already sunk into the ground,” said Timothy Rudderow, who manages $1.5 billion as chief investment officer at Mount Lucas Management. “But I wouldn’t want to have to be making long-term production decisions with this kind of volatility.” A U.S. crude bonanza that has handed consumers the cheapest gasoline since 2009 has left oil exporters like Russia and Venezuela flirting with economic chaos. The ruble sank as much as 19% on Dec. 16 to a record low of 80 per dollar before recovering to close at 68; Russian bond and equity markets also crumbled.

In Venezuela, the oil rout is spurring concern the country is running out of dollars needed to pay debt and swaps traders are almost certain default is imminent. U.S. oil production is set to reach 9.42 million barrels a day in May, which would be the highest monthly average since November 1972, according to the Energy Department’s statistical arm. Output from shale formations, deep-water fields, the Alaskan wilderness and land-based wells in pockets of Oklahoma and Pennsylvania that have been trickling out crude for decades already have pushed demand for imported oil to the lowest since at least 1995, according to data compiled by Bloomberg.

Read more …

“The essence of its action was that your money is not welcome in Switzerland ..”

Central Banks Are Now Uncorking The Delirium Phase (David Stockman)

Virtually every day there is an eruption of lunacy from one central bank or another somewhere in the world. Today it was the Swiss central bank’s turn, and it didn’t pull any punches with regard to Russian billionaires seeking a safe haven from the ruble-rubble in Moscow or investors from all around its borders fleeing Mario Draghi’s impending euro-trashing campaign. The essence of its action was that your money is not welcome in Switzerland; and if you do bring it, we will extract a rental payment from your deposits. For the time being, that levy amounts to a negative 25 bps on deposits with the Swiss Central bank – a maneuver that is designed to drive Swiss Libor into the realm of negative interest rates as well. But the more significant implication is that the Swiss are prepared to print endless amounts of their own currency to enforce this utterly unnatural edict on savers and depositors within its borders.

Yes, the once and former pillar of monetary rectitude, the SNB, has gone all-in for money printing. Indeed, it now aims to become the BOJ on steroids – a monetary Godzilla. So its current plunge into the netherworld of negative interest rates is nothing new. It’s just the next step in its long-standing campaign to put a floor under the Swiss Franc at 120. That means effectively that it stands ready to print enough francs to purchase any and all euros (and other currencies) on offer without limit. And print it has. During the last 80 months, the SNB’s balance sheet has soared from 100B CHF to 530B CHF – a 5X explosion that would make Bernanke envious. Better still, a balance sheet which stood at 20% of Swiss GDP in early 2008 – now towers at a world record 80% of the alpine nation’s total output. Kuroda-san, with a balance sheet at 50% of Japan’s GDP, can only pine for the efficiency of the SNB’s printing presses.

Read more …

Are they all going to sell in January?

Dow’s 421-Point Leap Is Biggest Gain In 3 Years (MarketWatch)

A surging U.S. stock market rallied to its best two-day gains in three years Thursday. The monster rally, which kicked off Wednesday after Federal Reserve Chairwoman Janet Yellen assured the markets that the central bank would be patient about lifting interest rate, burst into an all-out bull run late in Thursday trading. The move caps a two-day charge higher, bringing the Dow back to within shouting distance of 18,0000, after rocky trading days. The Dow Jones Industrial Average soared 421 points, or 2.4%, to 17,778.15, its biggest one-day gain in three years, a day after the Federal Reserve said it “can be patient” about the timing of its first rate hike, signalling increases will be slow and steady. It was the first time in more than six years since the Dow recorded back-to-back days of gains exceeding 200 points.

The S&P 500 jumped 48.34 points, or 2.4%, to 2,061.23, it’s biggest one-day gain in nearly two years. It is also the first time since Aug 2002 that the benchmark index posted two consecutive days of gains greater than 2%, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. The Nasdaq Composite jumped 104 points, or 2.2%, to 4,748, as technology companies recorded big gains. Jonathan Golub, chief U.S. market strategist at RBC Capital Markets, attributed today’s rally to halo effect from the Fed’s announcement on Wednesday. “The Fed told equity investors what we already assumed and believed,” Golub said. “There was fear that if there was going to be any change in the stance, it would be towards hawkishness, but the statement dispelled that, so stock markets rallied,” the RBC strategist added.

Read more …

Can we have some polar vortex please?

Already Crummy US Economy Takes a Sudden Hit (WolfStreet)

The Fed yesterday, in a fit of its typical though inexplicable optimism, raised its projection for economic growth. In September, it had projected that the US economy would grow between 2.0% and 2.2% in 2014. Now it raised its “central tendency” to a growth of 2.3% to 2.4%. That type of measly economic growth is far below the ever elusive escape velocity that Wall Street keeps promising without fail every year to justify sky-high stock valuations. But now reality is once again mucking up our already not very rosy scenarios. The service sector, the dominant force in the US economy, has taken another hit. Markit’s Services PMI Business Activity index slumped in December to 53.6, down from 56.2 in November. It’s now nearly 3 percentage points below the average over the last two years (56.4). And it is barely above the terrible growth rate in February (53.3), for which the polar vortex that had covered much of the nation was amply blamed.

Here is a chart of the shrinking services PMI. The peak was in June. From that point of maximum exuberance, it has been one heck of a downhill ride. Note the sudden no-polar-vortex plunge from November to December.

This time, there were no polar vortices to blame. But there were plenty of business reasons. Incoming new work was the lowest in nine months, with some survey respondents indicating that “the economic outlook had weighted on client demand at the end of the year.” The rate of job creation dropped to the lowest since April, with some respondents citing softer new business as reason. The Composite PMI, which combines the Services PMI and the Manufacturing PMI, dropped sharply from 56.1 in November to 53.8 in December. It has been on the same trajectory as the Services PMI, with the peak in June, followed by a downhill ride that culminated in a sudden plunge in December that left it below February’s polar-vortex low!

Read more …

“.. if you read some of Stanley Fischer’s early work on the rational expectation model you find that the key to fixing the lack of long term effectiveness to monetary policy is by confusing the working man. The idea being, people will act rationally with the information they are provided and so what typically happens is that people change their behaviour which counters the impact of the policy being implemented.

The Fed Delivers the Message that Our Economy is Dead (Beversdorf)

I used to get a kick out of the cute little children waiting for the Fed Chair to come and deliver presents or coal. So giddy and excited from the anticipation of not knowing who Janet thinks were good boys and girls. Who’s going to be rewarded and who disappointed? And I don’t know how many people asked me today what the Fed will do. My answer was “The same f@#*ing thing they always do, nothing. So stop asking”. You see, if you read some of Stanley Fischer’s early work on the rational expectation model you find that the key to fixing the lack of long term effectiveness to monetary policy is by confusing the working man. The idea being, people will act rationally with the information they are provided and so what typically happens is that people change their behaviour which counters the impact of the policy being implemented.

The solution is to keep us guessing. And so what they have done for essentially every meeting is nothing. However, they use the media to talk about all the things they just might do. And the pundits on television go on and on about all the things that might happen and what the follow on implications will be given those alternatives and then the moment comes and ahhh nothing, damn they fooled me again! I really thought this time was it gosh golly dang it!. I guess it was just that this or that was just slightly out of place otherwise they said they were totally gonna do this or that. So close, but ultimately they are right. Yep they made the right choice based on all the variables. They are just swell. At this point, I just get annoyed with the ridiculous foolishness of people. We’ve got to start using our own brains. The Fed stopped using any benchmarks because while the benchmarks were improving, the economy wasn’t and isn’t.

And so they were being railroaded by the transparency that benchmarks provide. And now it is just a black box of various indicators that will be analyzed in real time to form justifiable actions, far too complex for you and I but trust them that there is a definite method and it’s very quantifiable at that, they just can’t tell us what it is because it would just confuse everyone. Does anyone really not get it?? I mean I was under the impression that the pundits on television were just acting for the sake of good drama. Is that not the case? Are people really still confused by what’s happening in the market and broader economy? It’s been 6 years of the absolute same bullshit. How could anyone not clearly understand exactly what is behind the action or non action of the Fed??? Come on people wake up. Take a deep breath, grab some coffee, do whatever you need to do but please wake the hell up.

Read more …

They’re all addicted to Fed QE. But that’s gone, and there’s no alternative available.

Emerging Markets In Danger (Erico Matias Tavares)

There are some signs of trouble in emerging markets. And the money at risk now is bigger than ever. The yield spread between high grade emerging markets and US AAA-rated corporate debt has jumped, almost doubling in less than three weeks to the highest level since mid-2012.


MSCI Emerging Markets Index and Yield Spread between High Grade Emerging Markets and US AAA Corporates: 14 March 2003 – Today. Source: US Federal Reserve.

This means that the best credit names in emerging markets have to pay a bigger premium over their US counterparts to get funding. When this spread spikes up and continues above its 200-day moving average for a sustained period of time, it is typically a bad sign for equity valuations in emerging markets, as shown in the graph above. One swallow does not a summer make, but it is worthwhile keeping an eye on this indicator.

As yields go up the value of these emerging market bonds goes down, resulting in losses for the investors holding them. The surge of the US dollar in recent months could magnify these losses: if the bonds are denominated in local currency they will be worth a lot less to US investors; otherwise, the borrowers will now have to work a lot harder to repay those US dollar debts, increasing their credit risk. Any losses could end up being very significant this time around, as demand for emerging markets bonds has literally exploded in recent years.


Average Annual Gross Debt Issuance ($ billions, percent): 2000 – Today. Source: Dealogic, US Treasury. Note: Data include private placements and publicly-issued bonds. 2014 data are through August 2014 and annualized.

Read more …

The craze in China stocks makes money scarce…

China’s Short-Term Borrowing Costs Surge as Demand for Money Grows (WSJ)

Short-term borrowing costs in China soared Thursday as demand for cash surged due to a number of new stock offerings and the year-end shopping spree. A recent ruling that bans the use of lower-grade corporate bonds as collateral for loans, once a key source of funding for many institutional investors, has also intensified the scramble for funds. The cash squeeze is putting the country’s financial system under renewed stress, though so far it hasn’t spread to other sectors such as stocks or the bond markets. The money markets in China have grown dramatically in recent years, with smaller banks especially vulnerable to the higher borrowing costs as they’re most reliant on the interbank market for cash.

The weighted average of seven-day repurchase agreements, or repo, a benchmark for short-term funding costs in China’s money market, rose to 5.27% from 3.89% Wednesday and 3.53% at the beginning of this week. However, the level remains well below the 12% peak that it touched at the height of the unprecedented cash crunch that China suffered in the summer of 2013. “The u%oming IPOs is the most important reason behind today’s funding squeeze. The usual year-end thirst for cash also is also playing a part,” said Wang Ming, a partner at Shanghai Yaozhi Asset Management Co. A dozen companies, including broker Guosen Securities and budget carrier Spring Airlines, are raising a total of $2.2 billion over the next few weeks from domestic stock listings. They are set to take orders for their offerings between Dec. 18 and Dec. 23.

Investors’ enthusiasm about the new IPOs was even more evident in the smaller funding market on the Shanghai Stock Exchange, the bigger of China’s two exchanges. The weighted average of the seven-day repo on the Shanghai market, where investors use exchange-listed bonds as collateral for short-term borrowing, soared to 12.20% from 10.60% Wednesday. It stood at 6.80% Monday. Such one-off factors aside, the recent strong rally in China’s stock market and a fresh move by Beijing to rein in growing risk in the corporate bond market are having a more lasting impact on the supply of funds, Mr. Wang said. China’s securities clearing house last week banned the use of lower-grade bonds, mostly issued by cash-strapped local governments and small firms, as collateral for short-term borrowing between investors.

Read more …

And banks feel the pinch.

PBOC Offers Loans to Banks as Money Rate Jumps Most in 11 Months (Bloomberg)

China’s central bank offered short-term loans to commercial lenders as the benchmark money-market rate jumped the most in 11 months. The amount of money made available by the People’s Bank of China wasn’t clear, according to people familiar with the matter. Policy makers are adding funds to the financial system to address a cash crunch as subscriptions for the biggest new share sales of the year lock up funds. Twelve initial public offerings from today through Dec. 25 will draw orders of as much as 3 trillion yuan ($483 billion), Shenyin & Wanguo Securities Co. estimated. The seven-day repurchase rate, a gauge of interbank funding availability in the banking system, surged 139 basis points, or 1.39%age points, to a 10-month high of 5.28% as of 4:39 p.m. in Shanghai, according to a weighted average compiled by the National Interbank Funding Center. The increase was the biggest since Jan. 20.

“The IPOs are affecting the market, leading to cautious sentiment with fewer institutions willing to lend,” said Li Haitao, a Shanghai-based analyst at China Guangfa Bank Co. “Quite a few traders found it very difficult to meet their funding needs yesterday.” Lenders paid 4.65% for 60 billion yuan of three-month treasury deposits auctioned today by the PBOC, the most they’ve paid since January for such funds. The central bank also rolled over this week at least some of the 500 billion yuan of three-month loans granted to lenders in September, a government official said yesterday, declining to be identified as the details haven’t been made public. “Banks have to prepare for quarter-end regulatory checks, including loan-to-deposit requirements, and hoard cash to meet year-end demand,” said Wang Ming, chief operations officer at Shanghai Yaozhi Asset Management LLP, which oversees 2 billion yuan of fixed-income investments. “With all these factors affecting the market, it’s no surprise it’s suffering more than during previous IPOs.”

Read more …

Eastern links will get much stronger as a result of western policies vs Russia.

Russia May Seek China Help To Deal With Crisis (SCMP)

Russia could fall back on its 150 billion yuan (HK$189.8 billion) currency swap agreement with China if the rouble continues to plunge. If the swap deal is activated for this purpose, it would mark the first time China is called upon to use its currency to bail out another currency in crisis. The deal was signed by the two central banks in October, when Premier Li Keqiang visited Russia. “Russia badly needs liquidity support and the swap line could be an ideal tool,” said Bank of Communications chief economist Lian Ping. The swap allows the central banks to directly buy yuan and rouble in the two currencies, rather than via the US dollar. Two bankers close to the People’s Bank of China said it was meant to reduce the role of the US dollar if China and Russia need to help each other overcome a liquidity squeeze.

China has currency swap deals with more than 20 monetary authorities around the world. Swaps are generally used to settle trade. “The yuan-rouble swap deal was not just a financial matter,” said Wang Feng, chairman of Shanghai-based private equity group Yinshu Capital. “It has political implications as it is a sign of mutual trust.” The rouble has lost more than 50% against the US dollar this year, pushing Russia to the brink of a currency crisis, though measures announced by the central bank helped it recover some ground yesterday. Li Lifan, a researcher at the Shanghai Academy of Social Sciences, said the swap would not be enough for Russia even if it is used in its entirety. “The PBOC might agree to extend something like 15 billion yuan initially as a way of showing China’s commitment to Russia.”

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How to blow up the EU.

Draghi Counts Cost of Outflanking Germany in Stimulus Battle (Bloomberg)

As Mario Draghi prepares to push the European Central Bank into quantitative easing, he’s counting the cost of alienating its home nation. With the ECB president signaling that he’ll override German-led concerns on government bond purchases if needed, his institution is under attack in the country whose DNA inspired it. The outrage reflects concern that the Frankfurt-based central bank, which is modeled on the Bundesbank, is taking risks that its forerunner would never tolerate. The Italian is now pursuing a charm offensive in the euro area’s biggest and most populous economy before the Governing Council’s Jan. 22 meeting to soften the blow as he presses on with stimulus. His challenge is to outflank the Bundesbank without risking a spillover into national politics serious enough to threaten German support for the single currency.

“The ECB has built up enough credibility on its own,” said Holger Schmieding, chief economist at Berenberg Bank in London. “That the Bundesbank may object to sovereign-bond purchases is largely taken for granted by markets. Tacit support from Berlin would neutralize Bundesbank objections in the German public debate.” The momentum toward QE is building, with more than 90% of economists in Bloomberg’s monthly survey predicting it’ll start in 2015. Euro-area inflation was 0.3% in November, compared with the ECB’s goal of just under 2%, and is poised to turn negative because of a slump in oil prices.

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“The rule prevents federally-insured banks from using their own money when investing in certain risky assets.”

Federal Reserve Delays Parts Of Volcker Rule Until 2017 (BBC)

The US Federal Reserve has given Wall Street banks even more time to comply with parts of the Volcker Rule, a key provision of the 2010 Dodd-Frank financial reform bill. The rule prevents federally-insured banks from using their own money when investing in certain risky assets. The Fed had already announced banks would have until 2017 to deal with one type of trading product. It will now grant an extension to other types of funds. Initially, the Fed had said banks would have until 21 July 2017 to stop trading in collateralised loan obligations, which essentially move the risk of investments in loans off their balance sheet. The new extension applies to other types of “legacy covered funds”, according to a release on the Fed’s website, which include “having certain relationships with a hedge fund or private equity fund”.

The Volcker rule is named after former Federal Reserve chair Paul Volcker and it limits the ownership stake banks can have in risky funds to a maximum of 3%. Part of the rule, which bans proprietary trading, is still scheduled to go into effect on 1 July 2015. This is the second big victory for banks, who have spent nearly four years arguing that the regulations stipulated in the 1,600-page Dodd-Frank bill are too onerous. Last week, a coalition of big banks, led by Citigroup, succeeding in convincing Congress to repeal a provision that required banks to put their riskier investments into separate holding companies that would not be insured by the US government.

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An exhaustive overview, with tons of graphs, of all aspects of the true state of the union, from obesity to poverty to incarceration rates. Don’t miss it.

“Neoconica” – America For The New Millennium (Thad Beversdorf)

I recently wrote an piece on the comprehensive breakdown of America. In it I laid out, from an analytical perspective, the things that are leading America to an economic collapse. But it might be interesting to take a look at a broader view of American life today. Policy and economic discussions are useful but in them we can lose the tangibility of what it all comes back to, which is the well being of Americans. Whether or not the national budget is 190% of GDP and whether interest rates will rise or not are important issues but only so far as they will impact the quality of life of the people. And so let s have a look at the lives of the American people. Have the policies over the past 15 to 50 years led to substantial improvements in the day to day real lives of Americans? Let’s have a look. And while we ve seen a couple of these more economic charts think about them in context of the other charts or other sides of life.

The above charts inform us that the bottom 80% of income households are making less than they did in the early 1980s, and remember the number of two income households today is far greater than it was in 1980 making this a staggering reality. However the top 20% and especially the top 1% have seen incredible income gains since the early 1980s. Total net worth for the bottom 80% of Americans has also been crushed. Since 2001 median net worth for the bottom 80% is down some 30% and this is during a period where stocks have reached all time highs. How could this be you ask?? Well this is not happenstance or simple unexplainable market forces. Those things do not exist in today s world. These results are by design.

I get frustrated hearing, even from the most intelligent of people that the Fed is doing its best and that given enough time this will work out for everyone. And that everyone is better off today than they used to be because this is America and that s just the way America works. But when we let the empirical data drive our perspective rather than our blind loyalty we see a very different story. The data tells a story of a political class that has been implementing programs and policies that are making the working class sick. We are given all sorts of medicines in the form of social programs and infinite debt to mask the symptoms but when we look at the actual medical test results we are not getting any better. In fact, our condition continues to worsen. Yet so many of us continue to listen to our political and economic shamans. We have such faith. And it is that faith that people like Ayn Rand recognized would be the death of America. So let’s continue on our journey through the life of the working class American today.

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“The solution for these three Members was to ensure that no other Members were present. It would have been difficult for other Members to object anyway, as no one else in the House had even seen the bill!”

Bombs Away! Obama Signs Bill For Lethal Aid To Ukraine (Daniel McAdams)

President Obama made good today on his promise to sign the Ukraine Freedom Support Act of 2014, which had passed Congress last week. Dubbed by former Rep. Dennis Kucinich the bill that “reignited the Cold War while no one was looking,” the Act imposes new sanctions on the Russian defense and energy industries, authorizes $350 million in lethal military assistance to the US-backed government in Kiev, urges that government to resume its deadly military operations against the Russian-speaking areas of east Ukraine seeking to break away from Kiev’s rule, and authorizes millions of dollars to fund increased US government propaganda broadcasts to the countries of the former Soviet Union.

Just days before Christmas, this bill is a massive gift to the US defense industry from which Ukraine will be required to purchase its lethal wish list. Perhaps as disturbing as the bill itself is the shocking process by which it passed the US House of Representatives. Three Members of the House, Foreign Affairs Committee Chairman Ed Royce (R-CA), Eliot Engel (D-NY), and Marcy Kaptur (D-OH), planned to be on the House Floor after the business of the day (passage of the massive omnibus spending bill) was completed and Members had left the Floor. Under a parliamentary move called “unanimous consent” the normal rules of the House can be suspended provided not a single other Member objects. The solution for these three Members was to ensure that no other Members were present. It would have been difficult for other Members to object anyway, as no one else in the House had even seen the bill!

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“Even in the worst of times, ‘we are always Americans, and different, stronger, and better than those who would destroy us.’”

US TV Shows American Torturers, But Not Their Victims (Glenn Greenwald)

Ever since the torture report was released last week, U.S. television outlets have endlessly featured American torturers and torture proponents. But there was one group that was almost never heard from: the victims of their torture, not even the ones recognized by the U.S. Government itself as innocent, not even the family members of the ones they tortured to death. Whether by design (most likely) or effect, this inexcusable omission radically distorts coverage. Whenever America is forced to confront its heinous acts, the central strategy is to disappear the victims, render them invisible. That’s what robs them of their humanity: it’s the process of dehumanization.

That, in turn, is what enables American elites first to support atrocities, and then, when forced to reckon with them, tell themselves that – despite some isolated and well-intentioned bad acts – they are still really good, elevated, noble, admirable people. It’s hardly surprising, then, that a Washington Post/ABC News poll released this morning found that a large majority of Americans believe torture is justified even when you call it “torture.” Not having to think about actual human victims makes it easy to justify any sort of crime. That’s the process by which the reliably repellent Tom Friedman seized on the torture report to celebrate America’s unique greatness.

“We are a beacon of opportunity and freedom, and also [..] these foreigners know in their bones that we do things differently from other big powers in history,” the beloved-by-DC columnist wrote after reading about forced rectal feeding and freezing detainees to death. For the opinion-making class, even America’s savage torture is proof of its superiority and inherent Goodness: “this act of self-examination is not only what keeps our society as a whole healthy, it’s what keeps us a model that others want to emulate, partner with and immigrate to.” Friedman, who himself unleashed one of the most (literally) psychotic defenses of the Iraq War, ended his torture discussion by approvingly quoting John McCain on America’s enduring moral superiority: “Even in the worst of times, ‘we are always Americans, and different, stronger, and better than those who would destroy us.’”

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“The Vatican is historically a place of politics and not just religion and has been for hundreds of years, with many popes starting their careers as diplomats for the Holy See ..”

Pope Francis Scores on Diplomatic Stage With U.S.-Cuba Agreement (Bloomberg)

After misfires in the Middle East and South Korea, Pope Francis is finding his place on the stage of world diplomacy — by taking the initiative. The pontiff who has made his name mostly by opening up debate in the Catholic Church about divorce and homosexuality yesterday achieved his first geopolitical success: The Argentine-born pope played a key role in brokering the accord between the U.S. and Cuba to move toward normal relations. After Pope Francis and President Barack Obama discussed Cuba during a Vatican meeting in March, the pontiff wrote directly to Obama and Cuban President Raul Castro urging them to conclude a prisoner exchange, according to an Obama administration official. It was the first such letter the president had received from the pope, the official said.

“The role of Pope Francis has been decisive,” said Vatican Secretary of State Pietro Parolin on Vatican Radio today. “He was the one who took the initiative of writing to the two presidents to invite them to overcome the problems between the two countries and find an agreement.” Francis, 78, had greater success with Cuba than in his other political ventures because it was an obsolescent standoff waiting for a solution and because of his Latin American roots, said Philippe Moreau-Defarges, a researcher at the French Institute of International Relations in Paris. “The Cuba situation simply made no sense to anyone anymore,” said Moreau-Defarges.

While the Vatican diplomatic corps exchanges representatives with 179 countries and popes have been sending emissaries since the 4th century, modern-day pontiffs haven’t always been politically involved. Benedict XVI, Francis’ German predecessor, focused more on doctrinal issues. His predecessor, John Paul II, pope from 1978 to 2005, spoke out frequently against military force and dictatorship and is credited with hastening the collapse of communism in his native Poland. “The Vatican is historically a place of politics and not just religion and has been for hundreds of years, with many popes starting their careers as diplomats for the Holy See,” said Federico Niglia, a history professor at Luiss University in Rome. “What’s somewhat unusual is Francis acting in person beyond diplomatic circles, which has close parallels to the style of predecessor John Paul II.”

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Brain structures are fascinating, with built-in resilience, redundancy.

Can You Live A Normal Life With Half A Brain? (BBC)

How much of our brain do we actually need? A number of stories have appeared in the news in recent months about people with chunks of their brains missing or damaged. These cases tell a story about the mind that goes deeper than their initial shock factor. It isn’t just that we don’t understand how the brain works, but that we may be thinking about it in the entirely wrong way. Earlier this year, a case was reported of a woman who is missing her cerebellum, a distinct structure found at the back of the brain. By some estimates the human cerebellum contains half the brain cells you have. This isn’t just brain damage – the whole structure is absent. Yet this woman lives a normal life; she graduated from school, got married and had a kid following an uneventful pregnancy and birth. A pretty standard biography for a 24-year-old. The woman wasn’t completely unaffected – she had suffered from uncertain, clumsy, movements her whole life.

But the surprise is how she moves at all, missing a part of the brain that is so fundamental it evolved with the first vertebrates. The sharks that swam when dinosaurs walked the Earth had cerebellums. This case points to a sad fact about brain science. We don’t often shout about it, but there are large gaps in even our basic understanding of the brain. We can’t agree on the function of even some of the most important brain regions, such as the cerebellum. Rare cases such as this show up that ignorance. Every so often someone walks into a hospital and their brain scan reveals the startling differences we can have inside our heads. Startling differences which may have only small observable effects on our behaviour. This case points to a sad fact about brain science. We don’t often shout about it, but there are large gaps in even our basic understanding of the brain. We can’t agree on the function of even some of the most important brain regions, such as the cerebellum.

Rare cases such as this show up that ignorance. Every so often someone walks into a hospital and their brain scan reveals the startling differences we can have inside our heads. Startling differences which may have only small observable effects on our behaviour. Part of the problem may be our way of thinking. It is natural to see the brain as a piece of naturally selected technology, and in human technology there is often a one-to-one mapping between structure and function. If I have a toaster, the heat is provided by the heating element, the time is controlled by the timer and the popping up is driven by a spring. The case of the missing cerebellum reveals there is no such simple scheme for the brain. Although we love to talk about the brain region for vision, for hunger or for love, there are no such brain regions, because the brain isn’t technology where any function is governed by just one part.

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