Dec 212018
 
 December 21, 2018  Posted by at 10:42 am Finance Tagged with: , , , , , , , , , , , , , , ,


Pieter Bruegel the Elder Hunters in the snow 1565

 

Dow Drops 470 Points To 14-Month Low In Day 2 Of Big Losses After Fed Hike (CNBC)
As Fear Rises On Wall Street, Strategists Warn The Worst Is Yet To Come (CNBC)
US Defense Chief Mattis Quits As Trump Pulls From Syria, Afghanistan (AFP)
House Passes Spending Bill With Border Wall Money, Senate Showdown Next (CNBC)
China Denies ‘Slanderous’ Economic Espionage Charges From US Allies (R.)
Russian Media Regulator Starts Checking Legality Of BBC’s Operations (R.)
Gatwick Runway Reopens After Days Of Drone Disruption (G.)
There’s A National Emergency All Right – But It Isn’t Brexit (G.)
Germany’s Hidden Crisis – Social Decline In The Heart Of Europe (G.)
Malaysia Seeks $7.5 Billion In Reparations From Goldman Sachs Over 1MDB (R.)
Singapore Said To Expand 1MDB Criminal Probe To Include Goldman Sachs (BBG)
Carlos Ghosn Re-Arrested On New Charges In Japan (BBC)
New Tree Species Became Extinct Before It Was Named (Ind.)

 

 

Jay Powell pricks the bubbles. Painful and inevitable. But if he ever decides to lower rates again next year, look for the bubbles to return. That’s his dilemma.

Dow Drops 470 Points To 14-Month Low In Day 2 Of Big Losses After Fed Hike (CNBC)

U.S. stocks swooned for a second day Thursday after the Federal Reserve raised benchmark interest rates and said that it would continue to let its massive balance sheet shrink at the current pace. Fears of a government shutdown also sent stocks tumbling to new lows Thursday afternoon. The Dow Jones Industrial Average fell 464.06 points to 22,859.6, bringing its two-day declines to more than 800 points and its 5-day losses to more than 1,700 points. The S&P 500 fell 1.5 percent to finish at 2,467.41 as technology stocks underperformed. The Nasdaq Composite fell 1.6 percent and closed at 6,528.41, briefly dipping into bear market territory amid big losses in Amazon and Apple.

The Nasdaq is 19.7 percent below its recent high. Companies in the S&P 500 have lost a total of $2.39 trillion in market cap this month. The Cboe Volatility Index — one of the market’s best gauges of marketplace fear — rose above 30. The Dow and Nasdaq posted their lowest closes since October 2017, while the S&P 500 finished at its lowest level since September 2017. The Dow and S&P 500, which are both in corrections, are on track for their worst December performance since the Great Depression in 1931, down more than 10 percent each this month. The S&P 500 is now in the red for 2018 by 7.7 percent.

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Yeah, all these experts. Who cares? There’s not nearly enough fear yet.

As Fear Rises On Wall Street, Strategists Warn The Worst Is Yet To Come (CNBC)

“The market’s in no man’s land,” said Peter Boockvar, chief investment strategist at Bleakley Advisory Group. Stocks have broken through the lows of the year, and technicians are scurrying to find the next support levels. On the S&P 500, he said 2,400 is a potential psychological area of support. The market plunged Thursday against the backdrop of a congressional feud with the White House over a continuing budget resolution, but the markets were more focused on the worries that have been festering over global growth and the potential for recession. “You can guarantee if the government shuts down it’s going to very soon reopen,” said Boockvar.

“This could be a carry through from yesterday, that’s legitimate. The problem now is this is the first time in years in this bull market that people are doing tax-loss selling. That’s helping to exaggerate the move. You’re also having redemptions.” Since the Fed announced its rate hike Wednesday, the Dow was down 815 points. The sharp drop in stocks since early October was unexpected and even more crushing recently, since December is typically a positive time for stocks. The 10 percent decline so far in the S&P 500 is its worst December performance since 1931. If it remains this way, it would the first time ever that December is the worst month of the year for the index.

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Have all those people who now say Mattis is the wisest and most balanced in the White House, forgotten why he’s called Mad Dog?

US Defense Chief Mattis Quits As Trump Pulls From Syria, Afghanistan (AFP)

US Defense Secretary Jim Mattis resigned Thursday, leading a chorus of protests at home and abroad after President Donald Trump ordered a complete troop pullout from Syria and a significant withdrawal from Afghanistan. Trump steadfastly defended his sudden push for retrenchment, vowing that the United States would no longer be the “policeman of the Middle East” and saying the 2,000-strong US force in Syria was no longer needed as the Islamic State group had been defeated. Mattis, a battle-hardened retired four-star general seen as a moderating force on the often impulsive president, made little attempt to hide his disagreements with Trump.

“Because you have the right to have a secretary of defense whose views are better aligned with yours,” Mattis said in a letter to Trump, “I believe it is right for me to step down from my position.” Mattis hailed the coalition to defeat Islamic State as well as NATO, the nearly 70-year-old alliance between North America and Europe whose cost-effectiveness has been questioned by the businessman turned president. “My views on treating allies with respect and also being clear-eyed about both malign actors and strategic competitors are strongly held and informed by over four decades of immersion in these issues,” Mattis wrote. One day after the surprise announcement on Syria, a US official told AFP that Trump had also decided on a “significant withdrawal” in a much larger US operation – Afghanistan.

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No government into Christmas?

House Passes Spending Bill With Border Wall Money, Senate Showdown Next (CNBC)

The House passed a temporary spending bill Thursday with money for President Donald Trump’s proposed border wall, further muddying the scramble to dodge a partial government shutdown by Friday. The chamber approved the measure to keep the government running into February by a 217-185 vote. But the path forward now is murky. The bill likely will not clear the Senate because it includes more than $5 billion for the border barrier, increasing the chances that funding for seven agencies lapses after the midnight Friday deadline. Senators were told Thursday to prepare for potential votes Friday. The chamber convenes at noon. The Senate unanimously approved a bill Wednesday night to keep the government running through Feb. 8 — without border wall money.

Trump insisted Thursday that he would not sign it. It forced House Republicans to include the wall money in the new bill. Both House Minority Leader Nancy Pelosi and Senate Minority Leader Chuck Schumer have flatly said congressional Democrats will not approve wall money. As Republicans need Democratic votes to pass spending legislation in the Senate, a partial shutdown is all but assured if the GOP insists on funding for the barrier. It is unclear if Republicans will abandon that goal in an effort to keep the government running past Friday. During a televised Oval Office fracas last week, Pelosi challenged Trump by saying he did not have the votes for wall money in the House. It turns out he did.

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We can do it, but they can’t.

China Denies ‘Slanderous’ Economic Espionage Charges From US Allies (R.)

China’s Foreign Ministry said on Friday it resolutely opposed “slanderous” accusations from the United States and other allies criticizing China for economic espionage, urging Washington to withdraw its accusations. The United States should also withdraw charges against two Chinese citizens, the ministry said, adding that China had never participated in or supported any stealing of commercial secrets and had lodged “stern representations” with Washington. “We urge the U.S. side to immediately correct its erroneous actions and cease its slanderous smears relating to internet security,” it said, adding that it would take necessary measures to safeguard its own cybersecurity and interests.

It has long been an “open secret” that U.S. government agencies have hacked into and listening in on foreign governments, companies and individuals, the ministry added. “The U.S. side making unwarranted criticisms of China in the name of so-called ‘cyber stealing’ is blaming others while oneself is to be blamed, and is self-deception. China absolutely cannot accept this.” U.S. prosecutors indicted two Chinese nationals linked to China’s Ministry of State Security intelligence agency on charges of stealing confidential data from American government agencies and businesses around the world. Prosecutors charged Zhu Hua and Zhang Shilong in hacking attacks against the U.S. Navy, the space agency NASA and the Energy Department and dozens of companies. The operation targeted intellectual property and corporate secrets to give Chinese companies an unfair competitive advantage, they said.

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More of the same: We can do it, but they can’t. The west wants to blame RT for all sorts of stuff beacuse that fits the Russophobe narrative.

Russian Media Regulator Starts Checking Legality Of BBC’s Operations (R.)

Russia’s media regulator said on Friday it would carry out checks to determine if the BBC World News channel and BBC internet sites complied with Russian law, a move it described as a response to British pressure on a Russian TV channel. Roskomnadzor, the regulator, said in a statement its checks were Russia’s response to a decision by British media regulator Ofcom, which on Thursday said that Russian broadcaster RT had broken impartiality rules in some of its news and current affairs programs. “The results of our check will be announced separately,” the Russian regulator said. Ofcom said on Thursday it was considering imposing some kind of sanction on RT, which is financed by the Russian state.

It took issue in particular with its coverage of the poisoning in Britain of former Russian spy Sergei Skripal and his daughter. Britain has accused agents working for Russia’s military intelligence agency, the GRU, of committing the crime, an allegation Moscow denies. British Media Secretary Jeremy Wright also weighed in on Thursday, saying what he called RT’s mask as an impartial news provider was slipping. RT rejected Ofcom’s findings, saying Ofcom had ignored its explanations and not paid “due regard” to its rights. Commenting on the launch of the Russian investigation on Friday, Margarita Simonyan, RT’s editor-in-chief, said on Twitter that Ofcom had hinted that it planned to strip her channel of its broadcasting license in Britain. “(Welcome to the) brave new world,” she wrote.

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Days of panic due to one or two drones, at an airport that has just one runway to begin with?!

Gatwick Runway Reopens After Days Of Drone Disruption (G.)

The first flights have resumed at Gatwick airport after a series of drone sightings caused days of disruption, affecting more than 100,000 passengers. Airlines warned customers to continue to check their flight’s status on Friday morning as the airport worked to “introduce a limited number of flights over the coming hours”. The runway had remained closed throughout Thursday night, forcing passengers to search for accommodation or shelter at the airport, and bringing demands for new aviation regulations to tackle the threat. The airport’s chief operating officer, Chris Woodroofe, said 120,000 passengers’ flights had been disrupted by the incident.

On Thursday night police said there had been more than 50 sightings of the drone in 24 hours from when the runway was first closed. Night-flight restrictions had been lifted at other airports, so “more planes could get into and out of the country”, the transport secretary, Chris Grayling said. “This is clearly a very serious ongoing incident in which substantial drones have been used to bring about the temporary closure of a major international airport,” he said. “The people who were involved should face the maximum possible custodial sentence for the damage they have done. The government is doing everything it can to support Sussex police.”

Shooting down the drone was being considered as a “tactical option” after other strategies to stop it had failed. Amid disbelief that the drone incident could be enough to bring one of the UK’s key airports to a standstill, the perpetrator or perpetrators eluded a search conducted by 20 units from two police forces in the surrounding area.

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Britain just stumbles from crisis to crisis, hidden from view by discussions about someone saying Stupid Woman.

There’s A National Emergency All Right – But It Isn’t Brexit (G.)

[..] there is a world beyond Brexit. True, it lacks the frenzied drama of cabinet walkouts, prime ministerial straw-clutching or humiliation served cold in Brussels. But things still happen – it’s just that they haven’t won much attention. It has been a good month to bury bad news. So allow me to disinter some of the headlines deep inside the newspapers. Since we’re counting small things, let’s start with children. Last week it was reported that a primary school in Great Yarmouth had opened its own food bank. It was launched by the headteacher, Debbie Whiting, after she saw pupils under 11 so hungry they were stealing from others’ lunchboxes.

This week, more than half of teachers surveyed by the National Education Union expressed fears that some of their kids won’t have enough to eat this Christmas. They reported a boy turning up wearing his trousers back to front, in order to hide the holes in the knees, and a class where one in three children sleep in their uniforms because they have no pyjamas. If anything qualifies as a national emergency, it should be this. A new generation growing up without adequate food and clothing ought to be leading TV bulletins and shaming government ministers into action. What dominates instead is blue-on-blue match commentary, because Jacob Rees-Mogg is box office while poor people can be slipped in just before the “And finally”.

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“..of all German women in work only one in three earns the minimum wage…”

Germany’s Hidden Crisis – Social Decline In The Heart Of Europe (G.)

The cover of Oliver Nachtwey’s book depicts a VW Beetle, emblem of Teutonic manufacturing prowess since Hitler’s day, driving off a cliff. Is the country that got used to imposing its values on feebler client nations – bailing out southern Europeans with their oversized public sectors, rampant tax avoidance and long lunches – in trouble? The Germany described by this Frankfurt School professor is a basket case – post-growth, post-democratic, with the first fascists in the Bundestag since the Third Reich. Despite being Europe’s richest country, it has higher numbers of working poor than any other EU state; almost one in four of its workers is paid less than the €9.30 (£8.40) minimum wage, many requiring state support.

Sociologist Ulrich Beck in the giddy 1980s called Germany an elevator society, in which millions of skilled workers upgraded from VWs to Audis and expected their children to rise still further in social status and wealth. The elevator may have seized up for a while after reunification, but only five years ago Germany seemed unstoppable. Every German, Beck thought, was in the same lift. No longer. Not only has downward mobility become more evident but the poor get poorer, the rich get richer, the older get tenure, the younger join the precariat. Sure, greater equality of opportunity means more women work than ever before, but of all German women in work only one in three earns the minimum wage.

“So while German women are more equal in terms of rights, inequality between women has never been greater than it is today,” Nachtwey argues. This is symptomatic of what he calls regressive modernisation and of the following paradox: “The more a society is based on equality of opportunity, the more unequal it becomes, and the more legitimate its inequalities”. Legitimate? The losers are perceived to be those who deserve to lose, the winners those who deserve to win. And the losers are the usual suspects – women, immigrants, those who have no qualifications. A Germany that once prided itself on social mobility, and whose sociologists once crazily imagined class distinctions were over, has become, in terms of class, as sclerotic as Britain.

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There’s a class action case looming as well.

Malaysia Seeks $7.5 Billion In Reparations From Goldman Sachs Over 1MDB (R.)

Malaysia is seeking US$7.5 billion in reparations from Goldman Sachs over its dealings with scandal-linked state fund 1MDB, the Financial Times reported on Friday (Dec 21), citing the country’s finance minister. Malaysian prosecutors this week filed charges against Goldman Sachs in connection with its role as underwriter and arranger of three bond sales that raised US$6.5 billion for 1Malaysia Development Berhad (1MDB), the first criminal action against the US bank over the scandal. Goldman Sachs has consistently denied wrongdoing and said certain members of the former Malaysian government and 1MDB lied to the bank about the proceeds of the bond sales.

In addition to the bonds’ total value, Goldman Sachs should also return US$1 billion to cover US$600 million in fees paid to the bank and bond coupons that were “higher than the market rate”, the FT quoted Malaysian finance minister Lim Guan Eng as saying. The three 10-year bonds carried coupons ranging from 4.4 per cent to 5.99 per cent. Lim also told the FT that reparations should at least be more than US$1.8 billion, the sum Goldman Sachs has told investors it had set aside to cover potential losses related to 1MDB legal proceedings. “Their figure is US$1.8 billion. Ours is US$7.5 billion,” Lim said. Goldman Sachs told the FT: “The 1MDB bond offerings were meant to raise money to benefit Malaysia; instead, a huge portion of those funds were stolen for the benefit of members of the Malaysian government and their associates.”

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The squid screwed up royally. But no-one at Goldman will be arrested.

Singapore Said To Expand 1MDB Criminal Probe To Include Goldman Sachs (BBG)

Singapore has expanded a criminal probe into fund flows linked to scandal-plagued 1MDB to include Goldman Sachs, which helped raise money for the entity, people with knowledge of the matter said. Police in the city-state had been examining Goldman’s relationship with the Malaysian state investment company since at least late 2017, but until recently, the firm’s local unit itself wasn’t a focus of any investigation, said the people, asking not to be named discussing sensitive information.

Authorities are trying to determine whether some of the roughly $600 million in fees from the three bond deals Goldman arranged for 1MDB from 2012 to 2013 flowed to the Singapore subsidiary, they said. Singapore’s widened probe opens a potential new battle front for Goldman, less than a week after Malaysia filed the first criminal charges against the firm over a relationship that spawned one of the biggest scandals in its history. Singapore is coordinating closely with the U.S. Justice Department, which is also investigating Goldman and has filed criminal charges against two former senior bankers at the firm, the people said.

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He’s been at it for a while: “..prosecutors now accuse Mr Ghosn of shifting a private investment loss of over $16m onto Nissan in the wake of the 2008 financial crisis.”

Carlos Ghosn Re-Arrested On New Charges In Japan (BBC)

Former Nissan chairman Carlos Ghosn has been re-arrested on fresh charges, Japanese media report, dashing any hopes he could be released on bail. Mr Ghosn has spent the last month in prison, accused of misusing funds and hiding $80m of income. But on Thursday a court rejected a request by the prosecution to extend his detention, which meant he could apply to be released on bail. Friday’s arrest is on a new charge of aggravated breach of trust. According to Japanese broadcaster NHK, prosecutors now accuse Mr Ghosn of shifting a private investment loss of over $16m onto Nissan in the wake of the 2008 financial crisis.

A towering and revered figure in the auto industry, Mr Ghosn has not yet responded to the latest allegation – but he has consistently denied all prior accusations made against him. He was first arrested in Tokyo in November as allegations of financial misconduct surfaced. The BBC’s Mariko Oi says that ever since Carlos Ghosn stepped off his private jet only to be taken into police custody, the case has gripped Japan with speculation rife over what could be behind such a stunning fall from grace. The case has been highly unusual – not least for a high profile chief executive to be spending time in jail – but also because of its legal twists such as yesterday’s when the court rejected an application to extend his detention..

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Animal species are much easier to worry over. Maybe that’s not all that smart.

“..at least six other studies failed to turn up any sign that the tree still exists. Tens of thousands of plant species globally face similar risks.”

New Tree Species Became Extinct Before It Was Named (Ind.)

Scientists have identified a new species of tree that is thought to have become extinct before it was even named. The tree, which has now been called Vepris bali, is believed to have been unique to a forest reserve in west Africa, but forest clearing and agricultural development have wiped it out. Scientists are studying the vepris species for the antimicrobial and antimalarial properties of their essential oils. Researchers hope several other vepris trees will be identified and named in Cameroon before they also disappear. A specimen was collected by a forester, Edwin Ujor, in the Bali Ngemba Forest Reserve in Cameroon in 1951.

The specimen was thought to belong to the genus vepris, which has 80 species, mostly found across Africa. But the tree has not been seen anywhere since. Researchers from the Royal Botanic Gardens, Kew, and the country’s University of Yaoundé I examined the original specimens and used molecular phylogenetic studies to identify the new species. They say the tree is now either critically endangered or already extinct.

Repeated efforts to find the species between 2000 and 2004 and at least six other studies failed to turn up any sign that the tree still exists. Tens of thousands of plant species globally face similar risks. According to the International Plant Names Index, only about 5 per cent of all known species have ever been formally assessed for their extinction risk. The authors wrote: “This makes it a priority to discover, document and protect such species before they become globally extinct.” The Bali Ngemba Forest Reserve, an officially protected forest, is part of the Bamenda highlands, an area so denuded of its natural forest vegetation that it is now known in Cameroon as “the grasslands”.

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Home Forums Debt Rattle December 21 2018

This topic contains 12 replies, has 6 voices, and was last updated by  TheTrivium4TW 3 months ago.

Viewing 13 posts - 1 through 13 (of 13 total)
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  • #44470

    Pieter Bruegel the Elder Hunters in the snow 1565   • Dow Drops 470 Points To 14-Month Low In Day 2 Of Big Losses After Fed Hike (CNBC) • As Fear
    [See the full post at: Debt Rattle December 21 2018]

    #44471

    Polder Dweller
    Participant

    Hard to understand how the British failed to take out a few hobby drones – unless they weren’t hobby drones (I haven’t seen a picture of one yet). A few high-power pulses of RF in the right direction will take out all but the most advanced (read military) drones. Cue the “it was them damn Russkies what done it” statement from Westminster.

    Meanwhile at Schiphol (Amsterdam airport) sea eagles are being used to tackle the drone menace:
    https://nos.nl/artikel/2131405-roofvogels-klaar-om-gevaarlijke-drones-te-vangen.html

    #44472

    V. Arnold
    Participant

    Pieter Bruegel the Elder Hunters in the snow 1565
    Wonderful painting and atmospherics (winter); splendid detail for the rest.

    I have to echo Polder Dweller re: the drones.
    This is the lack of ability of the British army? Whew-boy; they’re in deep shit…
    They should hire some savvy teens to get rid of them and track down the pilot (the army couldn’t find him/her either…

    #44473

    The drones are a peculiar story indeed. But one of the few so far not linked to Russia. To make sure, I looked it up: Gatwick has 2 runways, but can only use one at a time. More surprisingly to me Heathrow has only 2 runways, surprising because Amsterdam has 6. And Gatwick managed to get 126,000 people stranded with that 1 runway in what, a day and a half? Bit overbooked perhaps? Maybe leaving the EU is not such a great idea after all; the Brits risk being catapulted back into the Middle Stone Ages if they don’t get any (make that lots of) help.

    #44474

    V. Arnold
    Participant

    Maybe leaving the EU is not such a great idea after all; the Brits risk being catapulted back into the Middle Stone Ages if they don’t get any (make that lots of) help. Ilargi

    The Brit’s did a splendid, dare I say, spectacular, job of making themselves out to be classic fools during the Skripal debacle. Their story blamming Russia was a shameful embarassment of outright lies.
    Why would the EU even want them?
    May IS a stupid woman; an I’m not so sure Corbyn isn’t a stupid man.
    Mentally, the Brits may already be back in the Middle Ages…
    The US is likewise speeding towards a neo-feudalism; aspects of which are already in play…

    #44475

    Dr. D
    Participant

    Notice how intensely cold it was even in Holland in 1560. This is the Little Ice Age caused by the Maunder Solar Minimum, a cycle of 400 years. Time’s up.

    Germany’s Hidden Crisis – Social Decline In The Heart Of Europe (G.)
    Because The Guardian, virtually everything in this article is wrong, and worse, incoherent.
    In a mere 3 paragraphs:

    “bailing out southern Europeans” False. It was not a bailout, it was a crippling loan. Further it was not a loan to Greece as none of the money went to that nation but was re-routed back to German banks and their subs. Germany bailed out Germans, but not even that as the German people were also trashed: the bailout went exclusively to systemic insiders, who went bankrupt by losing on provable frauds. TO the rich of Europe, FROM the poor of Europe.

    “oversized public sectors” False. While Greece and Italy have do indeed have large public sectors, each of these are in line with the European average, including Holland and Germany. As the non-bailout occurred, Greece became the country with the smallest public sector and public support by some measures, and multiples smaller than Germany, even today. So again, Germany was bailing out THEIR oversized social programs by erasing those of others, and happily killing thousands doing it.

    “post-democratic” I won’t say this is false, but a) where have they been the last 30 years, and b) if they aren’t, nobody else in the West is either. False and unfair.

    “with the first fascists in the Bundestag since the Third Reich” False, presuming he is implying AfD & co and not single anomalous ministers who can always sometimes exist. So there is a group that is socialist, nationalist, who believes in expanding Germany to Germans everywhere, is on a war footing, and wants to accomplish this by uniting Corporate and State power? And they have a weird, almost occult religion of progressivism and personality cult to do it? Do tell, because I do not see any of those elements in play. If anything, that corporate merger and personality cult found its apex in the EU plan and Angela Merkel and is now receding.

    “Europe’s richest country” False. So Germany is richer than Austria, Monaco, and Switzerland now? Other studies would add Norway, Luxemburg, the Netherlands, Ireland, and Sweden. That’s pretty far down the list. 9th richest among a mere 28? Go Guardian, which being British, doesn’t even know Europe, but I repeat myself.

    “the losers are the usual suspects – women, immigrants” Or Greek and other men of southern and Eastern (and British) Europe who have disproportionately suffered? And immigrants are suffering? Compared to staying home? Why are they coming then?

    “The more a society is based on equality of opportunity, the more unequal it becomes,” Wow. So we’re against equality of opportunity now? What does that leave but equality of outcome, i.e. Soviet/Venezuelan Socialism? And Nachtwey/Guardian’s argument is that we should outlaw opportunity, replace it with equal outcome, and this will make society MORE equal? Where has that every happened? Ask your Soviet Party officials who were shopping in Geneva and resorting in Turkey. Heck, ask your EU party officials who are presently making $147,000/year with full benefits and an expense account to not show up to work, plus million-Euro payoffs, for example 1/3 of them geting pay from George Soros. Golly but that $100/hr is a long way from $10/hr we get. But these people will save you and think only about your welfare.

    The problem is because of an INEQUALITY of opportunity. Can you get 0% loans for 20 years to buy assets you yourself caused to be distressed? Can you pass the legislation and legally get insider tips on stock trades PLUS the money to buy them? If your pub takes out huge, risky loans for unwarranted expansion, covers it with accounting fraud, then sells the neighboring empty building that they never legally owned, do they get bailed out and not go to jail? After crashing the auto industry and embezzling all the money, are the German auto workers then paid bonuses larger than the GDP of Iceland? Can you direct the economy to boost tenfold assets you own (stocks and houses), and ravage assets you don’t own (wages and small businesses)?
    But this is our “Equality of Opportunity” that we need to fix. How? By moving from giving outsized and ill-used power to giving extreme and even totalitarian power to the same people.

    Thanks, Guardian. Thanks Nachtwey, and heck, thanks Picketty. We know who you are. Failing failures and the fails they’ve failed.

    Maybe someday someone will notice. This article is published and read without a peep.

    Shouldn’t they everyone sue Sachs over the derivatives accounting fraud that allowed Greece and Italy to enter the EU?

    #44476

    zerosum
    Participant

    Someone at the Guardian made an error of omission.
    They left a fly on the wall.
    They did not hire Dr. D. and they left him free to listen and peek into the dark and therefore be able to write about a different reality.

    The new weapon of terrorism, (drones), has passed all its tests.
    On close approach a shotgun would not help to eliminate drones because the BB shots left on the runway would cause a major problem.

    #44477

    zerosum
    Participant

    (fake news) Today is the shortest day of the year.

    Read about a different reality

    We’re Allowed to Celebrate Trump’s Withdrawal From Syria


    Then there’s Hoyer’s claim – echoed by Senator Graham, every pundit on CNN and MSNBC, and just about every vacuous D.C. analyst – that pulling out of Syria is “dangerous.”

    #44478

    Trump’s plan to withdraw from Syria goes to show what I think is perhaps the main ‘event’ of the past year -and change-: the MSM can no longer break with their own narrative anymore even just to celebrate peace at Christmas time. They MUST hold on to the storyline, which says Trump is evil (which makes even Mad Dog Mattis a good man), and US occupation of, and if they feel like it, war in, foreign nations is needed to preserve America.

    They all know this narrative stopped making sense long ago, but they’re stuck: remember, smearing Trump is what makes them money. if CNN or the NYT would praise him now for bringing troops home so they can be with their families for the holidays, they would risk losing their main lifeline, their money making golden goose.

    It doesn’t matter what developments take place, the media operate in a 2D world now. And their readers and viewers like that it makes their puzzling lives so much easier to navigate. But obviously, this sort of thing is very dangerous: people reach conclusions, and act, based on some flat earth idea that has nothing to do with anyone’s reality.

    #44479

    Polder Dweller
    Participant

    More about drones. I agree with zerosum that over the runways a shotgun is not such a great idea, but as I said, high-power RF pulses would take out pretty much anything that hadn’t been specifically designed to cope with such an attack. Specifically, that would entail shielding for the central electronics and limiters that could absorb an enormous amount of power. So, we’re left with a three options: 1. These were military-grade drones; 2. The British security forces are incompetent; or 3. It’s a hoax to allow the British government to introduce tough new drone laws. Take your pick.

    #44480

    zerosum
    Participant

    @ pd
    …. high-power RF pulses ….
    Took tech for your average idiot.
    A slingshot. bb on the runway would do more harm.
    —-
    The tide is going out, (bulldog resigned), every one is naked, (calling for more war)

    #44481

    TheTrivium4TW
    Participant

    Donating debt-based money to “help” Greeks without addressing the fraudulent debt-based money system, and the criminals who run it that have locked and loaded your home as direct collateral for the fraudulent debt, is akin to rearranging the chairs on the Titanic.

    Is that you intent, or are you truly unwitting when it comes to debt-money systems in spite of the information presented in these forums and in the post you rejected all those years ago?

    “In our time, the curse is monetary illiteracy, just as inability to read plain print was the curse of earlier centuries.”
    ~Ezra Pound

    #44482

    TheTrivium4TW
    Participant

    Regarding Syria, they do NOT have a debt-based money central bank yet. Neither does Iran.

    The Money Power Monopolist cabal is patient, BUT THEY DO NOT GIVE UP.

    The odds of a “Pearl Harbor” / 9/11 type event to are greatly increased due to this announcement. This “play” would give Trump the cover he needs in order to finally conquer Syria and set up a central bank.

    “Amazing how Libyan rebels took time out of their daily war duties to establish a CENTRAL BANK! Imagine the paperwork in getting that done on the battlefield!
    Those rebels are a well educated lot!
    Laughing out Loud!
    Seriously, don’t the serfs notice things like this?”
    ~Rothschild

    “The establishment of central banks is ALWAYS a necessary first step of subjugation of geographically congregated bloodlines.”
    ~House of Rothschild

    “There will be NO jubilee…count on it!”
    ~House of Rothschild

    “Remember, the equity and bond markets exist only to remove fiat from circulation!”
    ~House of Rothschild

    Archived Rothschild Q&A
    https://ia802300.us.archive.org/8/items/rofschildv1/IAmARofschildAxeMeAQuestion.html

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