Feb 052021
 February 5, 2021  Posted by at 10:25 am Finance Tagged with: , , , , , , , , ,

Winslow Homer Mending the nets 1881


Atlantic Council Anonymous Expose Calls for Regime Change in China (MPN)
Macron: EU Shouldn’t Gang Up On China With US (Pol.eu)
Hunger Games (Ben Hunt)
US Covid Hospitalizations Drop To Lowest Level Since Before Thanksgiving (F.)
No Special Freedoms For The Vaccinated In Germany (DW)
Trump Rejects Dems’ Request To Testify At Impeachment Trial (AP)
Incitement Is Not A Real Crime (McMaken)
Smartmatic Files $2.7 Billion Lawsuit vs Fox News, Giuliani, Powell (CNN)
Biden Withdraws Judy Shelton’s Fed Nomination (Hill)
Largest US Mall Landlord Sent Jingle Mail to Deutsche Bank (WS)
Dominant Capital Is Much More Powerful Than You Think (RWER)
Dems Are Lucy, The Football Is $2,000 (DP)
Lies, Damn Lies, And Fact Checking (DP)
The Secret History of the Shadow Campaign That Saved the 2020 Election (Time)



Here’s what will determine US politics in the next 4 years. Lack of clickbait. War would be good for ratings.



Warmongers “R” Us. Any thoughts on Russia?

Atlantic Council Anonymous Expose Calls for Regime Change in China (MPN)

Influential D.C. think tank the Atlantic Council has printed a 26,000-word report laying out its strategy for combating China. Published anonymously, the report states that “the single most important challenge facing the United States” in the twenty-first century is China’s growth to rival their own power. To do so, the report states that the U.S. must use “the power of its military,” the dollar’s role as the global reserve currency, and American control over technology and communication to suffocate the nation of 1.4 billion people. It advises President Biden to draw a number of “red lines” past which the U.S. would directly intervene (presumably militarily). These include Chinese attempts to expand into the South China Sea, an attack on the disputed Senkaku Islands, or moves against Taiwan’s independence.

A North Korean strike on any of its neighbors would also necessitate an American response against China, the report insists, because “China must fully own responsibility for the behavior of its North Korean ally.” Any backing down from this stance, the council states, would result in national “humiliation” for the United States. Perhaps most notably, however, the report also envisages what a successful American China policy would look like by 2050: “the United States and its major allies continue to dominate the regional and global balance of power across all the major indices of power;” and that head of state Xi Jinping “has been replaced by a more moderate party leadership; and that the Chinese people themselves have come to question and challenge the Communist Party’s century-long proposition that China’s ancient civilization is forever destined to an authoritarian future.” In other words, that China has been broken and that some sort of regime change has occurred.

The Atlantic Council is a NATO-offshoot organization funded by the U.S. and other allied governments, including the Gulf dictatorships. Among its largest corporate sponsors include weapons manufacturers like Raytheon, Lockheed Martin, Northrop Grumman, and Boeing. Its board of directors is full of high statespeople like Henry Kissinger, Colin Powell, and Condoleezza Rice as well as senior military figures such as retired generals Wesley Clark, David Petraeus, H.R. McMaster, James “Mad Dog” Mattis, Lt. General Brent Scowcroft and Admiral James Stavridis. At least seven former CIA directors are also on the board. Thus, the council could be said to represent the consensus opinion of the national security state.

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“..during a discussion broadcast by Washington-based think tank the Atlantic Council..”

Macron: EU Shouldn’t Gang Up On China With US (Pol.eu)

The EU shouldn’t gang up on China with the U.S. even if it stands closer to Washington by virtue of shared values, according to French President Emmanuel Macron. “A situation to join all together against China, this is a scenario of the highest possible conflictuality. This one, for me, is counterproductive,” Macron said, speaking in English, during a discussion broadcast by Washington-based think tank the Atlantic Council on Thursday. This kind of common front against China — as other European leaders have advocated given the new Biden administration’s revived openness to traditional alliances — risks pushing Beijing to lower its cooperation on issues like combatting climate change, and exacerbating its aggressive behavior in Asia, including in the South China Sea, according to the French president.

Macron also said “the coming semesters will be very critical for Chinese leaders and China,” given the Biden administration’s reengagement in multilateral frameworks like the World Health Organization. “As the U.S. is reengaging itself, what will be the behavior of China?” Macron asked. He pitched, once again, holding a summit of the five permanent members of the United Nations Security Council — China, France, the U.S., U.K. and Russia. He had tried to hold such a summit in 2020 but it had fallen prey to Sino-American tensions and never materialized. Macron was answering questions from a handful of U.S. think-tankers, professors and former officials via video link in a 90-minute session recorded at the Elysée on Wednesday afternoon.

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“You have been told that by banding together and acting as one, you can “democratize” the stock market.”

Hunger Games (Ben Hunt)

You have been told that investing in the stock market is like betting on a sports game. You have been told that you are a SPECTATOR in the game of markets, that you are WATCHING a game being played out in front of you by lots of different companies. You have been told that you should make ‘bets’ on those companies based on how well you think those companies can play the game that you are watching. The companies will play the game and they will keep score by ‘beating’ or ‘missing’ on revenues and earnings and the like, and then that score will determine whether or not your bets pay off. You have been told that the better you are at ‘analyzing’ the teams playing this game, the more ‘due diligence’ you put into studying the teams playing this game, the more money you will make with your bets.

You have been told that everyone can win with their bets, that this is how you, too, can achieve the wealth that you deserve. You have been told that the odds are ever in your favor. You have been told this for your entire life. More and more, you suspect this is a lie. But if it is a lie … what then? What meaning exists in the stock market if this is a lie? Over the past few weeks you have been told a new story. A brave story. A story of heroes. A story of meaning. You have been told that by banding together and acting as one, you can “democratize” the stock market. You have been told that you can slough off your market oppressors who “want companies to fail”.

You have been told that you can be a PARTICIPANT in the game of markets, that you can storm the playing field of companies, that you can take matters into your own hands and rescue a promising company under unfair attack. And, yes, make some good money in the process. Why not? Seems only fair. Today, as you see the collapsing stock prices of the companies you supported, you suspect that this was a lie, as well. And you’d be right. Neither story is true. Neither story has EVER been true. Both of these stories are narratives for our very own Hunger Games, a spectacle that chews up the participants in the arena while delivering enormous profits to the networks (media, financial and political) that put them on. Media networks count their profits in eyeballs, in the attention the Games garner.

Financial networks count their profits the old-fashioned way, in the sheer volume of dollar-generating order flow the Games produce. As for politicians, they get their most valuable coin of the modern realm – an issue. The wackos on the left get to propose insane transaction taxes. The wackos on the right get to tell us how much liBeRtY we are enjoying by giving Ken Griffin all of our money. The very serious centrists get to tell us about how we need “a national conversation” about the T+2 settlement issues raised here. And what about the rest of us? What about all of us reading story after story about the “Reddit Revolution” and what it means for us? What do WE get out of the Hunger Games?

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And then come the variants.

US Covid Hospitalizations Drop To Lowest Level Since Before Thanksgiving (F.)

Coronavirus hospitalizations in the U.S. are down to their lowest level since Nov. 24, according to The COVID Tracking Project, as signs of improvement in the pandemic appear evident across essentially the entire United States. On Thursday, there were 88,668 Covid-19 patients in U.S. hospitals, which remains well above the height of the spring and summer surges of 2020 but a significant drop from the record high of 132,474 hospitalized on Jan. 6. The rate of new cases in the U.S. has been declining for weeks, and is now averaging just under 120,000 a day for the first time since Nov. 5, according to Johns Hopkins University. Deaths, which lag behind increases in other metrics and have been at record levels, appear to finally be on the decline.

The 7-day rolling average for deaths has dropped every day during February, and is now below 3,000 a day, according to The COVID Tracking Project. Health officials are warning against complacency, especially with new strains of Covid that seem much more contagious, like the U.K. and South African varieties, that are spreading in the United States. “Now is not the time to let our guard down. Keep taking steps to protect each other,” CDC Director Dr. Rochelle Walensky said at a briefing Wednesday.

Vaccination efforts are continuing to ramp up in the United States. As of Thursday evening, around 36.7 million Covid shots had been administered around the U.S., according to a Bloomberg tracker, with estimated 2.3% of the population fully vaccinated with two doses of either Pfizer or Moderna shots. And more help is likely on the way. On Thursday evening, Johnson & Johnson applied for emergency use authorization with the FDA for its vaccine, which only requires a single dose. Dr. Anthony Fauci said he expects approval to come “within a week or so,” and the company appears on track for a March rollout.

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Vaccinated with a non-approved and hardly tested vaccin. Take ’em to court.

No Special Freedoms For The Vaccinated In Germany (DW)

The German Ethics Council on Thursday spoke out against lifting restrictions for individuals who have been vaccinated against COVID-19. Germany has been in partial lockdown since November. Bars, restaurants and cultural and sporting facilities are closed. Schools and non-essential shops were added to the list in mid-December, with rules on mask-wearing and working from home tightened in January amid concerns over new virus variants. Vaccinations started at the end of December with people over 80 and their carers front of the line. There is currently a shortage of vaccines in Germany, and it will take several months for a majority of people to be immunized and become eligible for the lifting of restrictions.

Over the past few weeks tourism agencies, event managers and some politicians had suggested allowing those who have been vaccinated to travel, eat in restaurants, attend concerts and other events which would involve close contact with a high number of other people. Foreign Minister Heiko Maas was the first high-profile politician to speak out in favor of lifting restrictions. “Someone who cannot fall seriously ill with the coronavirus anymore will not need intensive care and burden the health care system. He should no longer have to suffer restrictions to his basic rights and freedoms,” he told Bild am Sonntag newspaper in January. Such proposals have been met with criticism, for example from Left party chairwoman Katja Kipping, who urged adherence to freedom and equality stipulations in the German constitution.

Chancellor Angela Merkel also ruled out special regulations this Monday. The COVID-19 vaccination is not mandatory in Germany. Distinguishing between the vaccinated and those not vaccinated would be the same as a mandatory vaccination,” Interior Minister Horst Seehofer had warned. The ethics council on Thursday pointed out that it had to be clarified first whether vaccinated people might still be able to transmit the virus. Only if that were ruled out could any exemption from rules such as wearing masks in public places be considered. “At the present time, withdrawing state restrictions on freedoms for vaccinated people should not take place as it is not yet possible to reliably assess infectiousness,” Ethics Council head Alena Buyx told a news conference in Berlin on Thursday.

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For entertainment purposes only.

Trump Rejects Dems’ Request To Testify At Impeachment Trial (AP)

House Democrats on Thursday asked Donald Trump to testify under oath for his Senate impeachment trial, challenging him to respond to their charge that he incited a violent mob to storm the Capitol. A Trump adviser said the former president won’t testify. Although Democrats might not have the power to force Trump’s testimony, the request from House impeachment managers is part of their overall effort to put the violent events of Jan. 6 on the record for history and hold him accountable for his words. Democrats will look to use his refusal to testify against him as they argue that the ex-president has avoided responsibility for his actions.

Hours after the Democrats’ request was revealed, Trump adviser Jason Miller dismissed the trial as “an unconstitutional proceeding” and said the former president would not testify. Separately, Trump’s lawyers denounced the request as a “public relations stunt.” The impeachment trial starts Feb. 9. Trump, the first president to be impeached twice, is charged with inciting an insurrection on Jan. 6, when a mob of his supporters broke into the Capitol to interrupt the electoral vote count. Five people died. Before the riot, Trump had told his supporters to “fight like hell” to overturn his election defeat. Democrats have said a trial is necessary to provide a final measure of accountability for the attack. If Trump is convicted, the Senate could hold a second vote to disqualify him from seeking office again.

In the letter to the former president and his attorneys, Democratic Rep. Jamie Raskin, one of the impeachment managers, asked that Trump explain why he and his team have disputed key factual allegations at the center of their case. He asked that Trump provide testimony about his conduct “either before or during the Senate impeachment trial,” and under cross-examination, as early as Monday, Feb. 8, and not later than Thursday, Feb. 11. The request from Raskin cites the words of Trump’s own attorneys, who in a legal brief earlier this week not only denied that Trump had incited the riot but also asserted that he had “performed admirably in his role as president, at all times doing what he thought was in the best interests of the American people.”

With that argument, Raskin said, Trump had questioned critical facts in the case “notwithstanding the clear and overwhelming evidence of your constitutional offense.” He said Trump should be able to testify now that he is no longer president. Trump attorneys Bruce Castor and David Schoen responded hours later that the letter proves that Democrats “cannot prove your allegations” and that an impeachment trial is too serious “to try to play these games.”

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Not a new issue.

Incitement Is Not A Real Crime (McMaken)

[..] in an essay written for a small newspaper in the late 1960s, Rothbard explains the problem with claiming incitement is a real crime: “Suppose that Mr. A tells Mr. B: “Go out and shoot the mayor.” Suppose, then, that Mr. B, pondering this suggestion, decides it’s a darn good idea and goes out and shoots the mayor. Now obviously B is responsible for the shooting. But in what sense can A be held responsible? A did not do the shooting, and didn’t take part, we will assume, in any of the planning or executing of the act itself. The very fact that he made that suggestion cannot really mean that A should be held responsible. For does not B have free will? Is he not a free agent? And if he is, then B and B alone is responsible for the shooting.

If we attribute any responsibility at all to A, we have fallen into the trap of determinism. We are then assuming that B has no will of his own, that he is then only a tool in some way manipulated by A. Now, if Person A participated in the planning of a riot or a murder, then Person A is guilty of conspiracy, not incitement. But Person A is not guilty of anything for have merely suggested to Person B that he shoot the mayor. Person B, after all, is responsible for his own actions. [..] if the will is free, then no man is determined by another; then just because somebody shouts “burn, baby, burn,” no one hearing this advice is thereby compelled or determined to go and carry the suggestion out. Anybody who does carry out the advice is responsible for his own actions, and solely responsible.

Therefore, the “inciter” cannot be held in any way responsible. In the nature of man and morality, there is no such crime as “incitement to riot,” and therefore the very concept of such a “crime” should be stricken from the statute books.” [..] Cracking down on “incitement to riot,” then, is simply and purely cracking down on one’s natural and crucial right to freedom of speech. Speech is not a crime. And hence the injustice, not only of the crime of incitement, but also of such other “crimes” as “criminal sedition” (sharp criticism of the government), or “conspiracy to advocate overthrow of the government”—in other words, planning someday to exercise one’s basic and natural right to freedom of speech and advocacy.

A decade later, Rothbard emphasized the importance of rejecting the notion of incitement as a crime in his book For a New Liberty. Under the section titled “Freedom of Speech,” he writes: “What, for example, of “incitement to riot,” in which the speaker is held guilty of a crime for whipping up a mob, which then riots and commits various actions and crimes against person and property? In our view, “incitement” can only be considered a crime if we deny every man’s freedom of will and of choice, and assume that if A tells B and C: “You and him go ahead and riot!” that somehow B and C are then helplessly determined to proceed and commit the wrongful act. But the libertarian, who believes in freedom of the will, must insist that while it might be immoral or unfortunate for A to advocate a riot, that this is strictly in the realm of advocacy and should not be subject to legal penalty.”

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Maybe you can indict them for incitement.

Smartmatic Files $2.7 Billion Lawsuit vs Fox News, Giuliani, Powell (CNN)

A voting technology company swept up in baseless conspiracy theories about the 2020 election filed a monster $2.7 billion lawsuit on Thursday against Fox News, some of the network’s star hosts, and pro-Trump attorneys Rudy Giuliani and Sidney Powell, alleging the parties worked in concert to wage a “disinformation campaign” that has jeopardized its very survival. “We have no choice,” Antonio Mugica, the chief executive and founder of Smartmatic, told CNN Business in an interview about the company’s decision to file the lawsuit. “The disinformation campaign that was launched against us is an obliterating one. For us, this is existential, and we have to take action.”

The lawsuit, filed in New York state court, accused Fox, Giuliani, Powell and hosts Lou Dobbs, Maria Bartiromo, and Jeanine Pirro of intentionally lying about Smartmatic in an effort to mislead the public into the false belief that the 2020 presidential election was stolen from former President Donald Trump. “They needed a villain,” the lawsuit said. “They needed someone to blame. They needed someone whom they could get others to hate. A story of good versus evil, the type that would incite an angry mob, only works if the storyteller provides the audience with someone who personifies evil.” “Without any true villain, defendants invented one,” the lawsuit added. “Defendants decided to make Smartmatic the villain in their story.”

In a statement on behalf of the network and the named hosts issued after the lawsuit was filed, a Fox News spokesperson said, “FOX News Media is committed to providing the full context of every story with in-depth reporting and clear opinion. We are proud of our 2020 election coverage and will vigorously defend this meritless lawsuit in court.” Asked for comment, Powell said in a statement, “I have not received notice or a copy of this alleged lawsuit. However, your characterization of the claims shows that this is just another political maneuver motivated by the radical left that has no basis in fact or law.” In a statement of his own, Giuliani said, “The Smartmatic lawsuit presents another golden opportunity for discovery. I look forward to litigating with them.”

Giuliani and Powell have also been sued by another voting technology company, Dominion Voting Systems, for promoting their voter fraud conspiracies. Giuliani called Dominion’s lawsuit against him an “act of intimidation” to “censor the exercise of free speech” and Powell called Dominion’s lawsuit against her “baseless.”

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Danielle DiMartino Booth: “Suggesting administration should have sway over Fed policy was error in judgment. But let’s face it, since Volcker departed, each successive administration’s influence increased. Judy just gave voice to the truth. In the end, the establishment won the war..”

Biden Withdraws Judy Shelton’s Fed Nomination (Hill)

President Biden on Thursday formally withdrew Judy Shelton’s nomination to the Federal Reserve Board, closing the book on her quest to join the central bank. Shelton’s nomination was withdrawn with more than two dozen other officials nominated by former President Trump in January shortly before he left office. The Democratic takeover of the Senate in January effectively ended Shelton’s chances of confirmation, and Biden’s withdrawal of her nomination does little more than clear the way for his eventual pick to fill the final vacant spot on the Fed board. Biden has not yet indicated who he would nominate in Shelton’s place.

Trump announced in 2019 that he would nominate Shelton, a former campaign adviser, to the Fed board after Senate Republicans rejected four of his previous picks. She was formally nominated in early 2020 and narrowly approved for a confirmation vote by the Senate Banking Committee last July despite GOP concerns about her criticism of Fed independence, past support for the gold standard and inconsistent views on monetary policy. Shelton came remarkably close to confirmation in December, but coronavirus-related absences and the opposition of three Republican senators blocked her from joining the Fed. Trump renominated Shelton in January after the new Congress convened, but Republicans were unable to confirm her before losing their Senate majority.

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“Simon Property Group has washed its hands off it, letting the CMBS holders eat the losses. And the new owners, Deutsche Bank and holders of CMBS, will now get to manage the mall.”

Largest US Mall Landlord Sent Jingle Mail to Deutsche Bank (WS)

Deutsche Bank this week foreclosed on a $177.5 million mall mortgage. The mortgage had been securitized and spread over two commercial mortgage-backed securities (CMBS) in 2012. The collateral is 560,000 square feet of retail space at the 1.2 million square-foot Town Center at Cobb, in Kennesaw, Cobb County, Georgia. The regional mall has over 170 stores, including a Macy’s, a JCPenney, and a Belk (just filed for bankruptcy). The mall was owned by Simon Property Group, the largest mall landlord and mall REIT [SPG] in America, which, in one of its acts of jingle mail, had returned the mall to the lenders. “Jingle mail” was engraved into the American lexicon during the housing bust, when homeowners voluntarily turned their homes over to lenders, presumably by mailing them the house keys.

Most home mortgages are recourse loans, and banks can drag the homeowner to court over any deficiency after the foreclosure sale – except in the 12 “non-recourse” states. But commercial real estate mortgages are non-recourse; all the lender gets is the collateral, and the owner walks away. At the time of securitization in 2012, the collateral for the loan was valued at $322 million, according to Trepp, a data firm that tracks CMBS. And everything was hunky-dory. In October 2020, the value was slashed by 60% to $130.4 million. The legal notice by Deutsche Bank of the foreclosure sale, reported by the Marietta Daily Journal on January 27, specified that the mall would be sold on February 2 “at public outcry to the highest bidder for cash before the Courthouse door of Cobb County.” The opening bid would be $130.4 million.

And this is what happened on February 2, according to the Marietta Daily Journal: “[Attorney Matthew Norton of the law firm Polsinelli] “read the legal notice in full on the southern steps of the county’s justice center, a recitation that took over half an hour to complete. The bargain hunters who attended the morning’s residential foreclosure auctions left hours before, leaving Norton to conduct the “public outcry” on the courthouse steps across the street from an empty Flournoy Park.” And there were no bids. So Deutsche Bank and other CMBS holders are now the proud owners of the mall. Simon Property Group has washed its hands off it, letting the CMBS holders eat the losses. And the new owners, Deutsche Bank and holders of CMBS, will now get to manage the mall.

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“In capitalism, capital is power, and to accumulate it differentially – i.e., relative to others – is to fortify and augment one’s organized power over others.”

Dominant Capital Is Much More Powerful Than You Think (RWER)

According to the theory of capital as power (CasP), capitalists and corporations are driven not to maximize profit, but to ‘beat the average’. Their yardstick is not an unmeasurable theoretical abstraction, but the readily observable performance of others. Their aim is not to increase their ‘material gain’, counted in fictitious utils or socially necessary abstract labour time, but to earn more money than everyone else. And the reason, we argue, has to do with power. In capitalism, capital is power, and to accumulate it differentially – i.e., relative to others – is to fortify and augment one’s organized power over others. Following Kepler’s modern notion of force, CasP sees capitalized power not as a stand-alone qualitative entity, but as a quantitative relationship between entities.

First, capitalized power is not absolute, but relational. It’s not a ‘battery’ or ‘energy’ that some entities possess and use to impose their will over others. Instead, it is the actual structure of differential relationships among capitalist owners and organizations as well as between those owners and organization and others who are subjugated to them and resist their domination. Second, capitalized power is a pure quantity. The actual institutions, structures and processes of capitalist power – from production, to finance, to government, religion, ideology, international relations, crime and what not – vary greatly. They are qualitatively different from each other and, in that sense, hard if not impossible to compare and aggregate. But in capitalism, these qualitative differences all get reduced to pure numbers: they are converted to the universal quantities of differential profit, investors’ hype and risk perceptions – and from there they get discounted to the universal quantity of differential capitalization.

The ongoing quest to beat the average and accumulate differentially goes hand in hand with CasP’s notion of ‘dominant capital’. All capitalists try to beat the average, but only some succeed and only a minority succeeds systematically, at least over a certain period. In time, this minority percolates up the hierarchies of power to formulate the cluster we call dominant capital. This cluster comprises the largest government-backed corporate coalitions at the centre of any given sector, a particular society, a group of countries and, ultimate, the capitalist world as a whole. The constituent entities of dominant capital change over time – the Alphabets and Apples of today have substituted the U.S. Steels and AT&Ts of a century ago and will likely be replaced by others in the future. But topologically, as a ruling entity, dominant capital is ubiquitous. There is hardly a capitalist setting without it.

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Why would anyone ever vote again?

Dems Are Lucy, The Football Is $2,000 (DP)

The image of Lucy and the football is a good way to understand Democrats and the promised $2,000 checks — the party promised the checks immediately, but now seems intent on pulling the ball away at the last minute, expecting Charlie Brown to laugh. But millions of struggling middle-class families who were deceived probably won’t find it funny. The Washington Post, HuffPost and Bloomberg are reporting that Democrats may limit full $1,400 survival checks to individuals earning less than $50,000 and couples earning less than $100,000. A bipartisan group of senators is also now pushing an amendment to “ensure upper-income taxpayers are not eligible” for checks. At least one Democratic senator, Ron Wyden of Oregon, has said he opposes the new proposed income limits.

Biden’s original proposal would send full checks to individuals earning up to $75,000 and married couples earning up to $150,000 — the same income limits Congress has used for previous rounds of checks. The proposed changes, which are being discussed in the name of “targeting” payments to those who need it, could affect checks for millions of people who have previously received COVID economic impact payments. Under the new terms being debated, about four in ten Americans could be excluded or receive partial checks, according to census data. Roughly 36 percent of U.S. households earn more than $100,000 — and some of the 29 percent of American households earning between $50,000 and $100,000 are single households.

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Bezos will have more time for his hobbies soon.

Lies, Damn Lies, And Fact Checking (DP)

Jeff Bezos this week announced that he is stepping down from his job running Amazon in order to focus more on his other assets, including the Washington Post. Less than 24 hours later, his newspaper’s chief “fact checker” Glenn Kessler published a screed attacking Bezos’s highest-profile political opponent, Sen. Bernie Sanders, for mentioning that Donald Trump’s 2017 tax law benefited rich people and large corporations. This might seem like a simple example of a pundit knowing exactly who pays his salary, but in this case, the pundit in question has his own axe to grind. Kessler is the scion of a fossil fuel baron, which means he has an interest in defending tax cuts that were a particularly big financial windfall for oil companies, including the one linked to his family, according to Kessler’s own newspaper.

At a time when Americans’ trust in media has plummeted, Kessler is a perfect illustration of how the cottage industry of fact checking has turned itself into a system of Orwellian misinformation — one that uses fact-o-meters and Pinocchios to insist that war is peace and ignorance is strength. Rather than clarifying reality, fact checking is routinely used to hide the truth and shield the powerful from accountability — it has helped politicians hide their votes to cut Social Security; let health care industry lobbyists distort statistics about medical bankruptcies and Medicare for All; and abetted Wall Street’s efforts to downplay bank bailouts. Now, comes the crescendo: The newspaper owned by a man worth $180 billion is deploying fact checking to try to revise the entire history of the tax cuts that enriched his retail conglomerate.

And what a coincidence — the revision is happening just as the tax policy may be revisited by a new Democratic president. Not surprisingly, this particular broadside is being directed at Sanders, arguably the most prominent critic of Bezos and Amazon in all of American politics. He introduced legislation to shame the company for its labor practices, he successfully pressured the company to raise its workers’ wages and has championed legislation to tax billionaires. Bezos’s company has responded by attacking the Vermont senator — and now his newspaper is trying to reinforce those attacks under the deceptive guise of fact checking, all as it warns readers on every story that democracy dies in darkness.

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A curious celebration.

The Secret History of the Shadow Campaign That Saved the 2020 Election (Time)

A weird thing happened right after the Nov. 3 election: nothing. The nation was braced for chaos. Liberal groups had vowed to take to the streets, planning hundreds of protests across the country. Right-wing militias were girding for battle. In a poll before Election Day, 75% of Americans voiced concern about violence. Instead, an eerie quiet descended. As President Trump refused to concede, the response was not mass action but crickets. When media organizations called the race for Joe Biden on Nov. 7, jubilation broke out instead, as people thronged cities across the U.S. to celebrate the democratic process that resulted in Trump’s ouster.

A second odd thing happened amid Trump’s attempts to reverse the result: corporate America turned on him. Hundreds of major business leaders, many of whom had backed Trump’s candidacy and supported his policies, called on him to concede. To the President, something felt amiss. “It was all very, very strange,” Trump said on Dec. 2. “Within days after the election, we witnessed an orchestrated effort to anoint the winner, even while many key states were still being counted.” In a way, Trump was right. There was a conspiracy unfolding behind the scenes, one that both curtailed the protests and coordinated the resistance from CEOs. Both surprises were the result of an informal alliance between left-wing activists and business titans. The pact was formalized in a terse, little-noticed joint statement of the U.S. Chamber of Commerce and AFL-CIO published on Election Day. Both sides would come to see it as a sort of implicit bargain–inspired by the summer’s massive, sometimes destructive racial-justice protests–in which the forces of labor came together with the forces of capital to keep the peace and oppose Trump’s assault on democracy.

The handshake between business and labor was just one component of a vast, cross-partisan campaign to protect the election–an extraordinary shadow effort dedicated not to winning the vote but to ensuring it would be free and fair, credible and uncorrupted. For more than a year, a loosely organized coalition of operatives scrambled to shore up America’s institutions as they came under simultaneous attack from a remorseless pandemic and an autocratically inclined President. Though much of this activity took place on the left, it was separate from the Biden campaign and crossed ideological lines, with crucial contributions by nonpartisan and conservative actors. The scenario the shadow campaigners were desperate to stop was not a Trump victory. It was an election so calamitous that no result could be discerned at all, a failure of the central act of democratic self-governance that has been a hallmark of America since its founding.

Their work touched every aspect of the election. They got states to change voting systems and laws and helped secure hundreds of millions in public and private funding. They fended off voter-suppression lawsuits, recruited armies of poll workers and got millions of people to vote by mail for the first time. They successfully pressured social media companies to take a harder line against disinformation and used data-driven strategies to fight viral smears. They executed national public-awareness campaigns that helped Americans understand how the vote count would unfold over days or weeks, preventing Trump’s conspiracy theories and false claims of victory from getting more traction. After Election Day, they monitored every pressure point to ensure that Trump could not overturn the result. “The untold story of the election is the thousands of people of both parties who accomplished the triumph of American democracy at its very foundation,” says Norm Eisen, a prominent lawyer and former Obama Administration official who recruited Republicans and Democrats to the board of the Voter Protection Program.

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Home Forums Debt Rattle February 5 2021

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    Winslow Homer Mending the nets 1881   • Atlantic Council Anonymous Expose Calls for Regime Change in China (MPN) • Macron: EU Shouldn’t Gang Up O
    [See the full post at: Debt Rattle February 5 2021]

    Dr. D


    Again, former super-duper-uber-woke just last year.

    If I’m such a far-out super-neanderthal conservative, how come I sound just like the furthest-left Jimmy Dore?
    (Of course NSFW) https://m.youtube.com/watch?v=7yJccSm8QMA

    Weird. It’s almost like it’s all the people vs all the establishment insider billionaires and tongue-bathing lackeys, against all their terrible violent, authoritarian, anti-human plans. It’s just me. And Dore’s whole audience of 90,000 people. And Pool’s whole audience of 300,000 people. And the Right’s whole audience of…whatever that is, I don’t follow them. 70 million people?

    “Looks like you’re outnumbered”

    “A North Korean strike on any of its neighbors would also necessitate an American response against China,”

    Reminds me of PNAC, created by Jeb, Cheney, and all the NeoCons that said, “Further, the process of transformation, even if it brings revolutionary change, is likely to be a long one, absent some catastrophic and catalyzing event – like a new Pearl Harbor.” You know, just before a couple of planes and a couple of buildings had an accident, just before we accidentally invaded a totally unrelated, uninvolved nation, accidentally killed a few million of their citizens, gave the rest birth defects, and are accidentally still there, accidentally costing $7 Trillion that ended up with MIC donors.

    So it SURE would be a terrible thing if we accidentally said or did something to North Korea that made us just HAVE to invade China. Such a shame, but white man’s burden, ya know, bringing law and democracy to others that we don’t have at home.

    “US Covid Hospitalizations Drop To Lowest Level Since Before Thanksgiving (F.)”

    It’s a miracle! Biden wins! And it all happened 5 days BEFORE he was inaugurated:

    Off a cliff! Covid is over, as predicted! Yet we still need the vaccine we haven’t got, and both caused and didn’t cause this cure. It’s totally unrelated to reducing PCR tests from 45 to 30 (and soon lower) as the Nobel-winning test’s inventor has been saying for a year. No, it’s Biden, wait, not-Biden’s inauguration. It’s because he put in a new/same Pandemic doctor Fauci/not Fauci, which are enacting same/not same policies as before, which take effect BEFORE he says them.


    I can’t wait to get vaccinated so I can have no additional rights or freedoms, but go back to my jail cell alone, with my now-mentally-ill children, waiting for the police to break in and ask why there’s two cars in the driveway. We must bring this freedom and success to China, spread it worldwide.

    On an unrelated note: no additional deaths in the U.S.! Yet somehow the Flu has been cured!

    “Trump adviser Jason Miller dismissed the trial as “an unconstitutional proceeding”

    Clearly no one cares that Chief Justice Roberts has also dismissed the whole trial, refuses to appear, and that is definitively required by the U.S. Constitution or it isn’t a legal impeachment. Constitution? What Constitution? The only thing we know is, if it’s in there, we do the opposite. Oh, we have a trial without a judge? Who’s your brother-in-law and was accused co-conspirator of the crime? Or a trial without a prosecuting attorney, but where the Judge overrules the appeals court, judicial review, and is both the judge, prosecution, and the jury?

    Sure, why not? “If you won’t stand up for anything, you’ll fall….”

    Okay, more fun: THEY specifically listed fake elections as the crime. That means whether the elections are fake is on trial, AND that the Congress has to prove a negative – that is, that they were NOT fake.

    At the same time, Dominion has sued several people and are open to full discovery with Powell.

    Speaking of, Arizona is FINALLY looking to arrest Maricopa county for refusing to hand over ANY election evidence, in direct violation of many laws. The election was so clean that everyone in Maricopa would rather go to jail than examine their perfectly-fine, not-fraudulent evidence. Okay-dokey. Nothing to see here. Another Friday in America.

    “Dominant Capital Is Much More Powerful Than You Think (RWER)”

    You certainly CAN use capital in this way but you don’t have to. I CAN use a shovel for an axe, but it’s not the best tool for the job. Natives may have owned the capital of their hut and fishing nets, but this gave them no leverage under their social system and in fact sometimes reduced it. That’s up to US, not somebody else. You’re the one making Bezos rich. But then you want somebody else to fix what you caused. People installed and paid by Bezos, apparently, i.e. the ‘government.’ So will you win or lose when you take that strategy?

    “Dems Are Lucy, The Football Is $2,000 (DP)”

    If only this were the only complete double-crossing bare-faced lie. I haven’t made a list because it seems petty and partisan, but the list is long. Yellen oversees her $1M donor, Progressives all purged. Warmongers promoted. War re-started. AntiFa arrested. Progressives banned. Amnesty put off for a decade. People deported. Kids in cages. Women attacked. Unions crushed. Black jobs erased. D.C. closed to the public. Executive orders used like a dictator. Oil jobs erased. In 10 days. But you got a free mask. Hey Joe, you know how many masks I could buy for $2,000? UBI: now $600/year plus a free mask.

    Wait: which famous “Uncle Joe” is he again? I’m getting confused.


    My clarification

    MintPress News is not The Atlantic Council

    MintPress News is an independent watchdog journalism organization that provides issue-based original reporting, in-depth investigations, and thoughtful analysis of the most pressing topics facing our nation.

    We focus our coverage on issues relating to the effects of special interest groups, big business and lobbying efforts and how they shape policies at home and abroad, including American foreign policy. Through the lens of social justice and human rights, we report on how these dynamics drive our foreign affairs and impact the world, and examine the effects they have on our democracy and freedoms as defined by the constitution.

    Meet the ENABLERS AND INFLUENCERS Warmongers

    Board of Directors

    Shaping the global future together

    • Atlantic Council Anonymous Expose Calls for Regime Change in China (MPN)

    Cutting off your nose
    Burn baby Burn
    population reduction
    resources depletion/shortage

    The Longer Telegram: Toward a new American China strategy

    FOREWORD, by Frederick Kempe of https://www.mintpressnews.com/
    Another great catch!

    Hunger Games

    • Hunger Games (Ben Hunt)

    Citadel Securities only cares that you ARE buying or selling. (secondary market – selling/buying part of the original “grubstake”)
    For the nanosecond that Janet Yellen was between jobs as Fed Chair and now Treasury Secretary, Citadel paid her $810,000 to deliver three speeches. Apparently that first speech was so riveting that they needed two more.

    And you thought your ten-bagger in GME was a good investment. Imagine spending $800k to be best buds with the person who regulates your $7 billion in annual revenues.

    It always amazes me how cheap it is to buy political influence. The best investment on Earth.

    I think that Epsilon Theory can help you do that. I think we can help you see markets for what they are. Not what you’ve been told they are, and not what you would like them to be. But what they actually are. And then how to engage with that reality with a full heart. Together.


    No refunds without a bailout, Air Canada executive says

    Mr. Rheault told the House of Commons transportation committee. “If we get some aid from the government, we’ll be able to refund” the fares.

    Taylor Bachrach, a NDP member of Parliament from British Columbia, noted Air Canada’s latest financial results showed it had $7.7-billion in liquidity, including almost $3.7-billion in cash.

    As of Sept. 30, Air Canada had $2.3-billion in advance ticket sales.

    The airline has collected almost $500-million in wage subsidies from the taxpayer-funded emergency program designed to prop up people sidelined in the pandemic, Mr. Bachrach said. “That would make it the largest recipient of the wage subsidy in Canada,” he said.

    “Can you explain to Canadians why a corporation with billions of dollars cannot provide a refund to customers for a service that was not provided?” he asked Mr. Rheault.

    Air Canada is burning through $15-million a day and has laid off 20,000 employees – about half its work force – as it cuts routes and pulls out of smaller airports to save money. Mr. Rheault said the carrier is operating 20 per cent of its network with 50 per cent of its employees.

    Doc Robinson

    “The ethics council on Thursday pointed out that it had to be clarified first whether vaccinated people might still be able to transmit the virus. Only if that were ruled out could any exemption from rules such as wearing masks in public places be considered.”

    It should already be obvious that a vaccinated person might still be able to transmit the virus. The vaccine effectiveness is not 100%.


    Several links / posts seem to imply that this has never happened before re Cov-19… History repeats.

    Plague (Yersinia pestis)

    1720, May. Geneva, Switzlerland. (1628 was the previous scare, well remembered at that time.)

    Marseille, via a ship “from the Levant” is hit by plague, hides the info for commercial reasons, and half the population in Marseille dies, in the region of Provence 1/3 expire.

    July. A sanitary cordon is set up to protect Geneva, a fortified town with radically clear, walled city limits.

    72 preventative measures are decreed. (see links, in F.)

    All entries to the city, at the Gates, are manned by officials. Everything is triaged and examined. Two large depots are set up, outside the Walls. The one for merchandise cleans and also simply leaves stuff to rest (intelligent), the other for persons, quarantines (from the Italian word for 40, quaranta, i.e. days) all entrants from the affected region or close by (others can enter after a med check up), with, apparently, some exceptions arriving or originating from the Provence Region or S. of France who sport a certificate of a bill of good health.

    The postal service continues to function, with delays. Letters are treated with ‘disinfectant’ – vinegar and perfume.

    Cabines, or barracks, are set up in a flat area outside the city, for isolating sick ppl. Are triaged: Ill, suspected ill, who are separated, as are the poor and rich. Hospital docs do the surveillance, policing.

    ALL assembly is forbidden, including funerals, church services, sports, court cases. Schools and all education close. Officials (Gvmt.) are given extra, emergency powers to impose fines. Ppl are advised not to mingle, circulate. A complicated scheme for delivering provisions is worked out. A rule specifies that homes in which a person has died of the plague must have all the residents in that home quarantine > thus have food delivery.

    An ‘exercise’ area is designated, where citizens are allowed to go out and walk, run, breathe.

    Doctors and med. personnel are asked to swear a fidely oath, to not leave the Town, as traditionally they are the first to flee. They are offered monetary recompense for staying put. “Black crows” task is to collect bodies, “white crows” carry out the transport of the sick, suspected sick, and health care. All their work obligations, etc. are laid out in the 72 articles.

    Good nutrition is advised. Cleaning and personal hygiene are considered vital. Infection is understood somewhat – a dead body is “corrupted” and had to be disposed of pronto – and stagnant water (pipes etc. had to be cleaned.)

    Very poor people and beggars are expelled or given housing. Cleaning the streets.

    Commerce is decimated and many ppl become poorer.

    These measures are enforced for 3 years, and are effective, no plague hit. Some historians opine that is was the cordons sanitaires in France, which btw moved further North as the infection spread, that preserved Geneva.


    The main differences as compared to today. Of course COV19 illness is not as deathly as the plague — the difference is between 50% dead and at most 3-4% (to make it really wide and scotch discussions with the ‘if we hadn’t..’) so perhaps one shouldn’t even compare!

    In 1720, sick, ill, infected ppl were removed from their homes, isolated, which is not done now. Idk the % of infections in the family at home for COV19, read somewhere 50%, which makes sense.

    The other major difference is that travel was reserved for the very rich and some lucrative / essential commerce, and measures to control it (vet ppl, etc.) or stop it (close the gates) were relatively easy to implement.

    links are all in F, news articles, archive PDFs.






    ‘Christopher Lasch & The Revolting Elites’:

    “..In Lasch’s view, American elites have come to loathe their fellow Americans who do not share their rarefied progressive morality. What can any decent man (or woman, or Genderqueer-American) owe to a country and a people who are a stinking mass of bigotry? Revolt can be read as a defense of the white working-class Americans that would later come to be called “deplorables.” But it is also a defense of minorities, who, in Lasch’s view, are victimized by managerial elites in the name of kindness..”

    Christopher Lasch & The Revolting Elites

    Lasch had it precisely right, and twenty-five years ago. Now I’m told- nay, *required*- to be ultra-woke, masked-up, vaccined-up, and ultra-poor; all for my own good™, of course!

    F*ck ’em.


    Adding: Divide et Impera, brought to you and us by Our Elites, Inc; a division of Same-old Same-old, LLP..

    Dr. D’s cartoon above is perfect.


    Replying to Noirette: the means of control (of us proles) are *profoundly greater* now, than then.

    Around last April I thought people were’t buying the Con; now, most everyone in my region
    (central California coast) is masked-up, getting vaccined-up, and seemingly enjoying their
    newfound servitude to Our Woke Elites..

    That many persons are apparently OK with their now-facelessness is maybe the most disturbing aspect of all this,
    to my mind. Can they not_see_what they’re accepting; likely *permanently*?


    Domestic Terror is a Government Without Constraints- Ruh Roh: That Unhinged Canadian Conspiracy Theory is 5-for-5 so far…

    Domestic Terror is a Government Without Constraints

    Don’t agree with the author’s invoking of the”comm’nism” hobgoblin, but a good piece otherwise.
    Tell me again that this wasn’t planned long ago..


    There is one shopping area in my small town, a bedroom community near San Luis Obispo. One half is [heh; *was*] small-business, now shuttered by “lockdown” and essentially destroyed; the other half Corporate (T-mobile™, Starbucks™, Ace Hardware™..), the latter all open for business throughout the “pandemic”, and on better-than-everStreet.

    odd 😉


    Yesterday, V.A. asked why I was so glum; thinking the USA could collapse this year.

    The Alberta graph above and the rise of new variants in UK, Brazil and South Africa puts neoliberal countries like the USA between a rock and a hard place. To control the virus requires going a war footing and nationalization of the for-profit healthcare system that is clearly incapable of coordinating, funding, or fighting the pandemic. Vaccines at best will protect the rich who can afford the semi-annual or annual corona-jabs until a non-lethal version of the virus predominates and the susceptible hosts are dead.

    There is a possibility that the 1889 to 1895 Russian flu pandemic was caused by one of the now five human coronaviruses.

    The USA is too corrupt, greedy and incompetent at the moment to mount an effective public health campaign against the virus. Coronavirus is nearly endemic in the Americas. Without a functional government, it is nature, the effectiveness of local healthcare systems, and death that will decide want happens next.

    V. Arnold

    The USA is too corrupt, greedy and incompetent at the moment to mount an effective public health campaign against the virus. Coronavirus is nearly endemic in the Americas. Without a functional government, it is nature, the effectiveness of local healthcare systems, and death that will decide want happens next.

    The U.S. is caught in its own mobius loop, which is endless…
    The Ouroboros also comes to mind.
    I am of the opinion that the U.S. will come through this; but, in what form or shape? Having no idea or relevant historical model, I can only guess it won’t be pretty or fun…
    Forget duck and cover…become valuable by knowing how to do things; build, garden, repair, hunt, fish, and get along with others…


    Yes bill that is different, for sure. Also, Bad colds, flu, tuberculosis, and more did not provoke that kind of strict response at the time. Only the Plague… far more deathly than anything else..

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