May 172017
 
 May 17, 2017  Posted by at 8:54 am Finance Tagged with: , , , , , , , , ,
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Arrest of Gavrilo Princip, the man who shoot Franz Ferdinand June 28 1914

 

Britain’s Labour Party Unveils ‘Radical’ Election Manifesto (AFP)
UK Media Trying Incredibly Hard To Keep Corbyn Out Of Number 10 (Can.)
The American Dystopia Didn’t Begin With Trump (MW)
Democratic Party Image Dips, GOP Ratings Stable (Gallup)
Chelsea Manning Set For Release After 7 Years In Prison (AP)
Hong Kong Rejects Asylum for Snowden Helpers (HRW)
The Everything Bubble: Stocks, Real Estate & Bond Implosion (Mike Maloney)
New Theory Behind Stalled Economy: Retirees Are Hoarding Too Much Cash (ZH)
Australia Needs Housing Slowdown for Stability on AAA – S&P (BBG)
Can China Afford Its Belt and Road? (Balding)
Erdogan’s Bodyguards Beat Up US Protestors in DC After He Met With Trump (Qz)
EU Warns Turkey After It Violates Greek Airspace 141 Times In One Day (EuAct)
Abe Divides Japan With Plan to Change Pacifist Constitution (BBG)
NATO Builds Infrastructure for Permanent Presence Near Russia’s Borders (SCF)
Eastern Europe Turns Its Back On Single Market (Pol.)
Germany and Italy Want EU To Halt Migrants In Libya (EuO)

 

 

Looking at the incredible mess built up by the likes of Trump and Hillary, Farge and Theresa May, Angela Merkel and Marine Le Pen, Jeremy Corbyn looks better all the time. He’s an actual person, and he sticks to his guns.

Maybe what goes against him most is that people in this day and age don’t recognize him as a politician anymore; politicians are supposed to stab backs, tell lies and conspire against anyone threatening their shot at power.

Is there anyone who would argue that the world would have been a worse place with Bernie Sanders in the White House and Jeremy Corbyn at no. 10?

As the left has moved, and become, right, we need a left just for balance in our societies. Nothing to do with if you are a socialist or not, just balance.

Britain’s Labour Party Unveils ‘Radical’ Election Manifesto (AFP)

Britain’s opposition Labour Party pledged to raise taxes on the well-off, renationalise key industries and end austerity in its manifesto on Tuesday, presenting voters with their starkest choice in decades in next month’s election. Labour leader Jeremy Corbyn called the programme “radical and responsible”, saying the country had been run “for the rich, the elite and the vested interests” in seven years of Conservative government. “It will change our country,” he will say in his speech at the presentation of the manifesto in Bradford in northwest England, according to extracts released by the party’s press office. “It will lead us through Brexit while putting the preservation of jobs first,” he said. The manifesto is expected to include a tax increase from 40% to 45% for salaries of between ££80,000 (€94,000, $103,000) and ££150,0000 a year, according to The Times and The Daily Telegraph.

The current 40% tax rate applies to people earning between ££31,500 and ££150,000. There would also be a new top rate of income tax of 50%, the reports said. Labour has said the rise would fund increased investment in the state-run National Health Service (NHS) and would only affect 5% of earners. The Guardian reported that the party was also planning a levy on businesses with staff earning large salaries, set at 2.5% on those earning over ££330,000 and 5.0% on those earning more than ££500,000. Labour will also promise to renationalise the railways, the Royal Mail postal service and water companies, according to various reports. Labour has also promised it will increase corporation tax to 26% by 2022 and impose a “Robin Hood tax” on financial transactions. “It’s a programme that will reverse our national priorities to put the interests of the many first,” Corbyn is expected to say. “This is a programme of hope. The Tory campaign, by contrast, is built on one word: fear.”

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Three weeks before the elections, Corbyn is still reported to lose in a landslide. Will Britain wake up in time? Theresa May is a sure bet for deterioration.

UK Media Trying Incredibly Hard To Keep Corbyn Out Of Number 10 (Can.)

An academic investigation has caught the UK media trying incredibly hard to keep Jeremy Corbyn out of Number 10. The mainstream TV and newspaper media are pushing the agenda of the Conservative Party within their coverage, according to an investigation from Loughborough University. The Conservatives are the “most frequently reported” and “most extensively quoted” party, while issues pushed by Labour are “marginalised”, say the report’s authors. In newspapers, for example, the Conservatives received by far the most direct quotation, exceeding Labour by 45%. One of the most striking findings is how much non-political personality pervades the entire media’s election coverage. Last week, Theresa May made a policy-free appearance on The One Show with her husband Philip May. The BBC hosted the personality-driven chat, despite the sitting Prime Minister refusing to debate her record on TV.

Then, according to the content analysis, the broader media amplified the appearance and sidelined the real issues. And this is precisely the aim of a Conservative Party opting for cosy sofa chats over serious policy debate. The sheer weight of reporting on the sanitised family affair propelled the Conservative leader’s husband into the fifth most covered political figure during the study’s time frame. He received nearly double the coverage of the SNP’s Nicola Sturgeon, who leads a party controlling 56 out of the 59 Scottish seats. The Conservative leader’s husband, a family figure irrelevant to the election, also received nearly as much coverage as Labour’s Shadow Chancellor. John McDonnell was the fourth most covered political figure, reported on in 6.1% of all the election news items analysed. Theresa May was easily the most prominent, featuring in 32.4% – over a third of all news items analysed. Corbyn received much less coverage across TV and newspaper media, appearing in 21.4%.

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And it won’t end there. Someone should be able to write it up better than this though.

The American Dystopia Didn’t Begin With Trump (MW)

Dystopia is here. It’s not just the “imagined place” of the dictionary definition or a future state of dystopian novels. It is very real and right now, at least for those of us trying to follow national politics. And it’s not just Donald Trump. It’s Barack Obama, it’s Ted Cruz, it’s the New York Times, it’s Breitbart News. It is an alternate universe detached from the world we live in but intruding into it in painful and dangerous ways. It is a media narrative of political conspirators colluding with a dictatorial archenemy, of an intemperate and delusional leader overturning the institutions of democracy, of a “deep-state” resistance to constitutional authority. It is a dystopia of rampant hypocrisy, where obstructing legislation, supporting a law-enforcement official who strays beyond the limits of his authority, or boycotting a president’s appointments is evil and undemocratic until it’s your party that wants to do it.

Two dystopian classics have shot back to the top of best-seller lists because the media suggest the authoritarian surveillance societies they portray have arrived. The 1948 novel “1984” and the 1985 novel “The Handmaid’s Tale” are touted as descriptions of where we are headed under Trump. While the author of “Handmaid,” Margaret Atwood, and the cast of the Hulu miniseries based on it see a Trump administration as the realization of the misogyny depicted in the novel, it’s obvious the U.S. is not about to become a Puritanical theocracy like that in the book. Critics on both the left and the right dispute the media meme that “Handmaid” is a depiction of the Trump era. Irish feminist Angela Nagle writes in the left-wing Jacobin magazine that it is neoliberal market forces that are oppressing women, not an imaginary theocratic state.

“The real-world dystopia for the majority of women in the age of Trump is not that they are being forced to have children by a repressive traditionalist state,” she wrote last week, “but that they’re being compelled not to by far more insidious forces, and those that do are financially and socially punished at every turn.” We are ruled by myths, she continues, but not those in the miniseries. “The mythologies of our age in the West are not enforced by repressive theocratic regimes,” Nagle says, “but by the market command to be free, to be creative, to be flexible, to love what you do for even the most uninspiring of jobs.”

Read more …

They’re all still well ahead of François Hollande. But imagine what a viable third party could do. Better let that be Bernie.

Democratic Party Image Dips, GOP Ratings Stable (Gallup)

Americans’ opinions of the two major political parties are now similar after the Democratic Party’s ratings slipped to 40% – from 45% last November – while the Republican Party’s image is essentially unchanged at 39%. The latest update on the party’s images is based on a May 3-7 Gallup poll, which asked Americans whether they have a favorable or an unfavorable opinion of each party. Throughout last year’s contentious presidential election campaign, U.S. adults rated neither party highly. In fact, more rated each party unfavorably than favorably. But Democrats maintained a slight edge in favorable ratings, including 45% to 40% in Gallup’s prior measurement, conducted last November after Donald Trump’s victory in the 2016 presidential election.

So far, Trump’s unpopularity as president has done little to erode Americans’ views of the GOP, perhaps because they were already quite negative. However, Americans are now less positive toward the Democratic Party than they were last fall. The decline in Democratic Party favorability is mostly a result of lower ratings from self-identified Democrats. In November, 83% of Democrats had a positive opinion of the Democratic Party; now, 77% do. Independents are also slightly less positive toward the Democratic Party, while Republicans’ negative views of the opposing party are steady.

[..]Americans are quite negative toward both of the major political parties at this time. Trump’s unpopularity and the GOP’s challenges in governing a divided nation have done little to weaken the party’s poor image further. But those same factors have also done little to cast the opposing party, the Democrats, in a more favorable light. If anything, the Democratic Party’s positioning appears weakened, largely because its own supporters now hold a less positive view of the party. That could indicate Democrats are frustrated with the party’s minority status in Washington. Not since 2003 through 2006 have Democrats failed to control the presidency, House of Representatives or Senate. Prior to that, Democrats had control of either Congress or the presidency for more than 50 years.

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Bless you.

Chelsea Manning Set For Release After 7 Years In Prison (AP)

Pvt. Chelsea Manning, the transgender soldier convicted of giving classified government materials to WikiLeaks, is due to be released from a Kansas military prison on Wednesday after serving seven years of her 35-year sentence. President Barack Obama granted Manning clemency in his final days in office in January. Though she’s set to be released from Fort Leavenworth, Manning’s lawyers and the Army have refused to say when and how she’ll be freed due to potential security concerns. Manning, who was known as Bradley Manning before transitioning in prison, was convicted in 2013 of 20 counts, including six Espionage Act violations, theft and computer fraud. She was acquitted of the most serious charge of aiding the enemy.

The Crescent, Oklahoma, native tweeted after being granted clemency that she plans to move to Maryland. Neither she nor her attorneys explained why, but she has an aunt who lives there. Manning, a former intelligence analyst in Iraq, has acknowledged leaking the materials, which included battlefield video. She said she wanted to expose what she considered to be the U.S. military’s disregard of the effects of war on civilians and that she released information that she didn’t believe would harm the U.S. Critics said the leaks laid bare some of the nation’s most-sensitive secrets and endangered information sources, prompting the State Department to help some of those people move to protect their safety. Several ambassadors were recalled, expelled or reassigned because of embarrassing disclosures.

Manning, who was arrested in 2010, filed a transgender rights lawsuit in prison and attempted suicide twice last year, according to her lawyers. Obama’s decision to commute Manning’s sentence to about seven years, including the time she spent locked up before being convicted, drew strong criticism from members of Congress and others, with Republican House Speaker Paul Ryan calling the move “just outrageous.” In a statement last week — her first public comments since Obama intervened — Manning thanked that former president and said that letters of support from veterans and fellow transgender people inspired her “to work toward making life better for others.” “For the first time, I can see a future for myself as Chelsea,” she said.

“I can imagine surviving and living as the person who I am and can finally be in the outside world. Freedom used to be something that I dreamed of but never allowed myself to fully imagine.” Her attorneys have said Manning was subjected to violence in prison and argued the military mistreated her by requiring her to serve her sentence in an all-male prison, restricting her physical and mental health care and not allowing her to keep a feminine haircut. The Army said Tuesday that Manning would remain on active duty in a special, unpaid status that will legally entitle her to military medical care, along with commissary privileges. An Army spokeswoman, Lt. Col. Jennifer Johnson, said Manning will be on “excess leave” while her court-martial conviction is under appellate review.

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Seems like every country punishes its best and bravest.

Hong Kong Rejects Asylum for Snowden Helpers (HRW)

Seven people who sheltered the whistleblower Edward Snowden in June 2013 are at risk of return to torture and persecution at home, Human Rights Watch said today. On May 11, 2017, the Hong Kong Immigration Department rejected their asylum claim; their lawyers are in the process of appealing the decision and pursuing a separate case for entry and asylum in Canada, where sponsors are ready to assist them. “Those who helped Edward Snowden in Hong Kong when he was seeking asylum now find themselves at dire risk if sent back to their countries,” said Dinah PoKempner, general counsel at Human Rights Watch. “Canada has the opportunity to a prevent a terrible outcome and should act immediately.”

The asylum-seekers include two men and a woman from Sri Lanka, and a woman from the Philippines, along with their three children who were born in Hong Kong and are stateless. The adults allege that they suffered torture and persecution in their home countries, and have been pursued by powerful people or officials who have tracked or threatened them. Their asylum lawyer, Robert Tibbo, brought Snowden, another client, to their homes in 2013 after he revealed he had disclosed classified information to the press. The families each freely allowed Snowden to stay with them for a short time after his disclosures became public but before his arrest was sought.

Neither the asylum-seekers nor their lawyer revealed their role in Snowden’s journey. However, journalists independently discovered their identities shortly before the release of an Oliver Stone movie about Snowden that shows him being hidden among asylum-seekers in Hong Kong. At that point, the asylum-seekers went public in an effort to have some control over how they were portrayed in the media.

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The Automatic Earth doesn’t promote any specific kind of investments, but Mike is a good friend of ours, and he’s right here.

The Everything Bubble: Stocks, Real Estate & Bond Implosion (Mike Maloney)

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No, they’re not.

New Theory Behind Stalled Economy: Retirees Are Hoarding Too Much Cash (ZH)

[..] we were somewhat shocked to come across a report from money manager United Income which effectively argues that American retirees are saving too much money rather than too little. To summarize the thesis, United Income argues that retirees become more conservative as they grow older which causes them to save more and allocate less to equities…which is, of course, a somewhat self-serving conclusion but never mind that.

“Innovations in medicine and technology have extended human life by over 30 years since 1900. This has helped to double the amount of time the average adult now spends in retirement compared to several decades ago. But, the benefits of longer lives and retirement may be limited if older households curb their consumption or investment in preventive health measures because they are overly pessimistic about their future financial health. Overly negative viewpoints toward the future may also create self-fulfilling economic problems if it leads to an overly aggressive fixed-income portfolio.”

Unfortunately, when combined with the fact that “Median Net Wealth” is actually shrinking, it’s easy to deduce that while the majority of American retirees are actually spending their retirement income (and then some), there is a group of super wealthy old folks who simply can’t spend enough money to offset annual investment income growth….which speaks more to the growing wealth gap than to some economic fear that is causing retirees to hoard cash. In this context, it’s not too difficult to understand why aggregate YoY spending trends collapse as old folks get older. The most wealthy retirees can only find so many ways to burn their massive nest eggs which means that, at least for these folks, YoY spending doesn’t grow but retirement balances do…while the overwhelming majority of people simply run out of cash and have to cut every corner possible to survive….

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Perfect irony.

Australia Needs Housing Slowdown for Stability on AAA – S&P (BBG)

Australia’s prized AAA rating will only rest on a firm footing once there’s a “meaningful moderation” in housing and credit, S&P Global Ratings said as it maintained a negative outlook on the country’s sovereign score. The country’s rating was affirmed by the credit assessor after the latest federal government budget projected a return to surplus by 2021, although S&P noted that revenue could disappoint and lawmakers may struggle to implement fiscal repair policies. It also highlighted risks stemming from Australia’s high level of external indebtedness. S&P has maintained a negative outlook on the country since last July when it issued a warning in the wake of a knife-edge federal election.

“The ratings could stabilize if we were to see a significant and sustained improvement in the medium-term budget outlook, leading to a return to a general government surplus,” S&P said in a statement Wednesday. “A stabilization of the ratings would also require a meaningful moderation of the credit and house price boom.” Home prices in Sydney and Melbourne have surged in the wake of unprecedented interest-rate cuts by the Reserve Bank of Australia as the country navigates its way through the aftermath of a mining boom. Regulators have progressively tightened lending restrictions amid concerns about financial stability.

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Debt and Road.

Can China Afford Its Belt and Road? (Balding)

China’s just-completed conference touting its Belt and Road initiative certainly looked like a triumph, with Russian President Vladimir Putin playing the piano and Chinese leaders announcing a string of potential deals and massive financial pledges. Underneath all the heady talk about China positioning itself at the heart of a new global order, though, lies in uncomfortable question: Can it afford to do so? Such doubts might seem spurious, given the numbers being tossed around. China claims nearly $900 billion worth of deals are already underway, with estimates of future spending ranging from $4 trillion to $8 trillion, depending on which Chinese government agency is doing the talking. At the conference itself, Chinese President Xi Jinping pledged another $78 billion for the effort, which envisions building infrastructure to link China to Europe through Asia, the Middle East and Africa.

From no other country in the world would such pledges be remotely plausible. Yet even for China, they’ll be difficult to fulfill without clashing with the country’s other objectives. The first question is what currency to use for all this lending. Denominating loans in renminbi would accelerate China’s stated goal of internationalizing its currency. But it would also force officials to tolerate higher levels of offshore renminbi trading and international price-setting. So far, they’ve shown little appetite for either. Additionally, countries along the Belt-and-Road route would need to run trade surpluses with China in order to generate the currency needed to repay such loans. In fact, as Bloomberg Intelligence economist Tom Orlik has noted, China ran a $250 billion surplus with Belt-and-Road countries in 2016.

It will be mathematically impossible for Sri Lanka and Pakistan to repay big yuan-denominated loans when they’re running trade deficits with China close to $2 billion and $9 billion, respectively. Financing projects in dollars is no panacea either. Unless China conducts U.S. dollar bond offerings to fund these investments, it’ll have to tap its official foreign-exchange reserves. Those now hover around $3 trillion. That sounds like a lot. But outside estimates suggest anywhere from a few hundred billion to nearly $1 trillion of that money is illiquid. China needs nearly $900 billion to cover short-term external debt and another $400 to $800 billion to cover imports for three to six months. Pouring additional billions into Central Asian infrastructure projects would only tie up money China needs to defend the yuan.

And, borrowers would need to run significant dollar surpluses in order to repay dollar-denominated loans. Obviously, not every country can do so, or undervalue its currency to try and build up a surplus. Beyond the specific mechanisms, it’s unclear whether China has the financial capacity to lend at these levels to borrowers of dubious creditworthiness. As French bank Natixis S.A. has noted, in order to finance $5 trillion in projects, China “would need to see growth rates of around 50% in cross-border lending.” This would wreak havoc on Chinese creditworthiness and raise external debt from a “very comfortable” level (around 12% of GDP) to “more than 50%” if China can’t bring in other lenders.

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Violence in a myriad forms is being normalized one step at a time.

Erdogan’s Bodyguards Beat Up US Protestors in DC After He Met With Trump (Qz)

“The relations between Turkey and the United States have been erected upon common democratic values and common interests.” That’s what Turkey’s president Recep Tayyip Erdogan said at a White House press conference with US president Donald Trump on Tuesday (May 16). But shortly after the event, Erdogan’s bodyguards proceeded to beat and kick people outside the Turkish ambassador’s residence in Washington DC. The altercation was captured on camera, and resulted in nine people being hurt, Voice of America said.

A photojournalist at the site said it seemed to be a pro-Turkey gathering at first, while some witnesses said the group outside the residence included a person carrying a flag of a Kurdish party in Syria allied with a militia the US plans to aid, over Turkey’s objections. [..] It’s not the first time Erdogan’s security has roughed up protesters on American soil. In 2016, the Washington Post reported clashes between protesters and the Turkish leader’s security detail. And in 2014, in New York, Turkish security threatened and pushed around journalists working for a newspaper perceived to be critical of Erdogan.

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This has been going on for years. And only know Brussels peeps.

EU Warns Turkey After It Violates Greek Airspace 141 Times In One Day (EuAct)

Turkish aeroplanes and helicopters illegally entered Greece’s airspace 141 times yesterday (15 May), the Hellenic National Defence General Staff reported. According to Greek press reports, 20 Turkish F-16, 5 CN-235 maritime surveillance aircraft and 19 helicopters entered the Athens flight information region (FIR) without submitting a flight plan. In all cases, Turkish aircraft were identified and intercepted by Greek fighters, while in nine cases the interception process resulted in near combat situations. In addition, two Turkish missile boats entered Greek territorial waters off the southeast Aegean island of Agathonisi. The vessels, which were taking part in a maritime exercise code-named Denizkurdu (Seawolf), stayed in Greek territorial waters for about 20 minutes.

As Kathimerini journal reported, last month Agathonisi was described as a “Turkish island” by Turkey’s Minister of European Union Affairs Omer Celik. While the EU and the international community recognise the sovereignty of Greece over the Greek Aegean islands, Turkey has a list of issues regarding the delimitation of territorial waters, national airspace, exclusive zones, etc. Ankara also claims “grey zones” of undetermined sovereignty over a number of small islets, most notably the islets of Imia/Kardak. The serious incidents occurred just a few hours after the meeting of Greek premier Alexis Tsipras with Turkish President Tayyip Erdogan in Beijing. The Greek Ministry of Foreign Affairs issued a strong communique saying that the incident “constitutes a flagrant violation of international law”.

“It is clear that there are forces in Turkey that do not want understanding and good neighbourly relations between the two countries,” the Greek ministry added. In the meantime, tensions between Ankara and Berlin also escalated. The German government is exploring the possibility of moving its troops out of Turkey’s Incirlik air base, which is crucial for the fight against ISIS, after a second German parliamentary delegation was prevented from visiting the Incirlik facility. German news agency dpa quoted Wolfgang Hellmich, the chairman of the Bundestag Defense Committee, as saying “we’re not going to be blackmailed” by the Ankara government.

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Another form of violence normalized. Abe is the proverbial nationalist.

Abe Divides Japan With Plan to Change Pacifist Constitution (BBG)

Prime Minister Shinzo Abe’s sudden rush to change the pacifist constitution that has defined Japan’s security policy since World War II risks eroding his popularity before an election due by the end of next year. This month, Abe proposed an amendment to recognize the existence of Japan’s Self-Defense Forces while maintaining Article 9, which renounces the right to war and prohibits land, sea and air forces. He wants the change to take effect by 2020, when Tokyo hosts the Olympics. Rewriting the constitution has been a longstanding goal of the ruling Liberal Democratic Party, whose original members – including Abe’s grandfather, who was a prime minister – saw the document as a U.S. imposition that humiliated Japan after World War II.

For Abe, the timing appears opportune: not only are tensions high over North Korea, but his opponents are weak. Yet it also carries risks. The public is divided on changing the constitution, and even some members of his own party don’t support it. The issue could galvanize the opposition and potentially hurt Abe’s chances of becoming Japan’s longest-serving prime minister. “It’s going to be very difficult for him to pull this off,” said Gerald Curtis, an emeritus professor of political science at Columbia University who is currently in Tokyo. “It will eat away at his support. Whether it eats away enough to threaten his third term – that’s unlikely.”

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Insanity rules.

NATO Builds Infrastructure for Permanent Presence Near Russia’s Borders (SCF)

A group of about 50 combat engineers based at Canadian Forces Base Gagetown were deployed to Latvia on April 29 as part of Operation Reassurance. The mission is to build a town for 500 soldiers. According to commanding officer Lt.-Col. Chris Cotton, the installation will have «everything you would expect in a small town, from its kitchen to its quarters, its electrical distribution system, water distribution system, internet, gym facilities that would allow people to survive over the long term in Latvia». Obviously, this is an element of vast infrastructure to provide for a long-term commitment. In early April, a US-led battle group of 1,350 soldiers for NATO’s Enhanced Forward Presence in Eastern Europe arrived at its base near Orzysz in northeastern Poland.

It took place just a few days after a NATO-Russia Council meeting took place on March 30. Secretary-General Jens Stoltenberg called the talks with Moscow «frank» and «constructive». Then the usual song and dance followed under the slogan of Russian threat. British RAF fighters are scheduled to be stationed to Romania this May. In March the first of 800 UK troops arrived in Estonia supported by around 300 armed vehicles. Along with French and Danish forces they’ll be stationed there on what NATO leadership calls «rotational basis». In January, German and Belgian forces arrived in Lithuania near the Russian enclave of Kaliningrad. The UK leads the Estonia Battlegroup while other NATO members are deploying forces to Latvia, Lithuania and Poland as part of the bloc’s Enhanced Forward Presence battalion.

All in all, 4,000 NATO troops with tanks, armored vehicles, air support, and high-tech intelligence centers deployed to Poland, Latvia, Lithuania, and Estonia. In accordance with the fiscal year 2017 European Reassurance Initiative budget proposal, the US Army is reopening or creating five equipment-storage sites in the Netherlands, Poland, Belgium and two locations in Germany. Last September, the service began to assemble more Army Prepositioned Stocks (APS) for permanent storage in Europe. Those stocks will be sufficient for another armored brigade to fall in on. The rotating brigade will bring its own equipment. The move will add hundreds of the Army’s most advanced weapons systems to beef up the US European Command’s combat capability. It will also free up an entire brigade’s worth of weapons currently being used by US forces training on the continent to enable more American troops to be rushed in on short notice.

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The EU is an instrument for German, Dutch, French power and profits.

Eastern Europe Turns Its Back On Single Market (Pol.)

The EU’s newest members are the fiercest opponents of its single market. As with so many of the toughest fights in Brussels, it all boils down to farmers and food. Central Europeans say big Western European landowners and multinational supermarkets are wiping out their farmers and shopkeepers. Protecting smallholders from powerful investors like banks has leapt to the top of the political agenda. Eastern European governments have rolled out a complex web of new laws to stop foreigners buying out swaths of ultra-cheap farmland. The European Commission regards this new legislation in the former communist countries as an existential threat to the EU’s free flow of goods, people and capital — the single market, in short — and struck back with infringement cases intended to preserve its sanctity.

In Bulgaria, for example, the European Commission launched an infringement proceeding last year over a law that investors should be resident for more than five years before they can buy farmland. In Romania, Brussels objected this year to rules that supermarkets should source 51 percent of fresh produce from local suppliers. There has been no decision on either case. It is in Poland, the regional heavyweight, that the battle over respect for the single market is fought the hardest. Brussels has already ordered the authorities to halt a tax on the retail sector on the grounds it grants a selective advantage to small, local shops with a low turnover over big foreign-owned supermarkets. All eyes are now focusing on how the European Commission will react to a growing chorus of complaints in Poland over the rights of foreigners to buy farmland.

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The ‘safe zones’ notion in northern Libya blew up in their faces. So now they’re moving the empty idea to the south. Meanwhile, people keep drowning, and that serves Europe’s purposes.

Germany and Italy Want EU To Halt Migrants In Libya (EuO)

Italy and Germany are reportedly seeking an EU mission to stabilise Libya’s 5,000km southern border with neighbouring countries and curb migration. German newspaper Welt am Sonntag reported on Sunday (14 May) that the German interior minister, Thomas de Maiziere, and his Italian counterpart, Marco Minniti, want the mission set up between Libya and Niger. The ministers sent a joint-letter last week to the European Commission, saying that an EU mission at the border between the two nations was needed “as soon as possible.” “The first months of this year have shown that our efforts up to this point have been insufficient. We must prevent hundreds of thousands of people who are in the hands of smugglers from risking their lives in Libya and the Mediterranean,” the letter states.

The letter, also seen by the French news agency AFP, says greater development and local support is needed for people living along the border. It also calls for “technical and financial support” to Libyan authorities. Abdulsalam Kajman, the vice president of the UN and EU-backed government seated in Tripoli, had also told Italy’s Corriere della Sera newspaper on Sunday that Libya was willing to launch patrols with the help of other countries. “If we don’t resolve southern Libya’s problems, we will not resolve the migrant issue,” he said. Kajman added that Italy was prepared to help train a new patrol guard for the task. The plans are part of a broader effort to prevent people from leaving Libya on boats towards the EU and crack down on migrant smugglers. The exodus from the coast has increased by over 44% – when compared to the same period last year – with some 45,000 people having disembarked between January and mid-May so far.

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Home Forums Debt Rattle May 17 2017

This topic contains 3 replies, has 3 voices, and was last updated by  V. Arnold 6 months ago.

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  • #34154

    Arrest of Gavrilo Princip, the man who shoot Franz Ferdinand June 28 1914   • Britain’s Labour Party Unveils ‘Radical’ Election Manifesto (AFP) •
    [See the full post at: Debt Rattle May 17 2017]

    #34157

    zerosum
    Participant

    property managers, service providers, loan providers, insurance providers are the none traditional scammers of the following class of people.

    uneducated …
    Overmedicated …
    Mentally challenged …
    Low income …
    Isolated …

    The Retirees

    #34163

    V. Arnold
    Participant

    Again, I almost fell out of my chair laughing (time to install a seat belt); retirees hoarding too much cash, wtf?
    I do think western civilization has lost its collective mind; I mean Trump (?), May (?), Machon (?), Merkle??? Oh, and Trudeau in Canada, is right up there as well.
    Other than a quick scan (sometimes), I’ve stopped reading the western media altogether.

    #34179

    V. Arnold
    Participant

    Oops; should have been Macron…

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