Raúl Ilargi Meijer

Jul 052020
 
 July 5, 2020  Posted by at 10:19 am Finance Tagged with: , , , , , , , , ,  6 Responses »


Nickolay Lamm Jefferson Memorial under 25 feet of water

 

On America’s Birthday, Celebrating The Corporate-Sponsored Revolution (Taibbi)
Protesters Pull Down Columbus Statue In Baltimore, Dump In Harbor (ZH)
COVID19 Close To Losing Epidemic Status In The US – CDC (JTN)
Hydroxychloroquine Knocked Again: WHO Shuts Down Trials (F.)
Early Treatment with Zinc, Low Dose HCQ and Azithromycin (Zelenko et al)
Financial Muscle Of Big Pharma Distorting Science During The Pandemic (RT)
More Than 200 Scientists Dispute WHO Theory On COVID19 Transmission (BT)
BP and Shell Write-Off Billions in Assets (ICN)
Flynn’s Prosecution: The More We Learn, The Worse It Seems (Hill)
False Allegations Of Affair With Flynn Used As Pretext For FBI Probe (JTN)
Sex Will Be Removed From Dutch ID-Cards (BT)

 

 

And there goes Columbus. Who and what’s next? Does anyone give any thought anymore to the fact that when all is said and done, Americans will still have to live in their country, together?

The Conservative half of the nation increasingly gets the picture, rightly or wrongly, through their media or their own thoughts, that the other half doesn’t just want to change their country, they want to take it away from them.

Sit down and talk before it’s too late.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Matt Taibbi doesn’t hit every single button here, but this is certainly a valiant effort.

On America’s Birthday, Celebrating The Corporate-Sponsored Revolution (Taibbi)

It’s the Fourth of July, and revolution is in the air. Only in America would it look like this: an elite-sponsored Maoist revolt, couched as a Black liberation movement whose canonical texts are a corporate consultant’s white guilt self-help manual, and a New York Times series rewriting history to explain an election they called wrong. Much of America has watched in quizzical silence in recent weeks as crowds declared war on an increasingly incoherent succession of historical symbols.

Maybe you nodded as Confederate general Albert Pike was toppled or even when Christopher Columbus was beheaded, but it got a little weird when George Washington was emblazoned with “Fuck Cops” and set on fire, or when they went after Ulysses S. Grant, abolitionist Colonel Hans Christian Heg, “Forward,” (a seven-foot-tall female figure meant to symbolize progress), the Portland, Oregon “Elk statue,” or my personal favorite, the former slave Miguel de Cervantes, whose cheerful creations Don Quixote and Sancho Panza were apparently mistaken for reals and had their eyes lashed red in San Francisco.

Was a What the Fuck? too much to ask? It was! In the space of a few weeks the level of discourse in the news media dropped so low, the fear of being shamed as a deviationist so high, that most of the weirder incidents went uncovered. Leading press organs engaged in real-time Soviet-style airbrushing. Here’s how the Washington Post described a movement that targeted Spanish missionary Junipero Serra, Abraham Lincoln (a “single-handed symbol of white supremacy,” according to UW-Madison students), an apple cider press sculpture, abolitionist Mathias Baldwin, and the first all-Black volunteer regiment in the Civil War, among others: “Across the country, protesters have toppled statues of figures from America’s sordid past — including Confederate generals — as part of demonstrations against racism and police violence.”

The New York Times, once the dictionary definition of “unprovocative,” suddenly reads like Pol Pot’s Sayings of Angkar. Heading into the Fourth of July weekend, the morning read for upscale white Manhattanites was denouncing Mount Rushmore, urging Black America to arm itself, and re-positioning America alongside more deserving historical parallels in a feature about caste systems: “Throughout human history, three caste systems have stood out. The lingering, millenniums-long caste system of India. The tragically accelerated, chilling and officially vanquished caste system of Nazi Germany. And the shape-shifting, unspoken, race-based caste pyramid in the United States.”

It’s tragic that this even needs saying, but the sudden reinvention in the press of modern America as a Nazi apartheid state is as phony as the thousands of patriotic campaigns that occupied the news media previously. We’re witnessing an obscene malfunction of the elite messaging system. The people who run this country have run out of workable myths with which to distract the public, and in a moment of extreme crisis have chosen to stoke civil war and defame the rest of us – black and white – rather than admit to a generation of corruption, betrayal, and mismanagement.

Read more …

One down, two to go. When that’s done, rename DC. At least be consistent.

Protesters Pull Down Columbus Statue In Baltimore, Dump In Harbor (ZH)

A group of protesters in Baltimore spent their 4th of July using ropes to pull down a statue of Christopher Columbus in the city’s Little Italy neighborhood – tossing it into the Inner Harbor. The statue, dedicated in 1984, is the latest monument to be destroyed in what President Trump dubbed the “left-wing cultural revolution” by “angry mobs.” According to the Baltimore Sun, the Columbus statue has been the site of a wreath-laying ceremony right before the annual Columbus Day parade, which, in 2019 was replaced with the Italian Heritage Festival.


“Republican state delegates and Italian-American activists held a press conference at the statue last month to ask Gov. Larry Hogan and Baltimore Mayor Bernard C. “Jack” Young to preserve and protect the memorials, following activists’ comments about pulling down the monuments themselves and the introduction of a City Council bill this week to rename one of them in honor of victims of police violence. The downed statue is one of three monuments to Columbus in Baltimore.“ -Baltimore Sun

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Certain to be misunderstood.

COVID19 Close To Losing Epidemic Status In The US – CDC (JTN)

Coronavirus deaths in the country have nearly reached a level where the virus will cease to qualify as an epidemic under Centers for Disease Control and Prevention rules, the federal agency reported on Friday. The CDC qualifies a disease outbreak as an “epidemic” if the number of deaths attributable to the disease exceeds a certain percentage of total deaths per week. That threshold for pneumonia, influenza and COVID-19 fluctuates slightly depending on the time of year, ranging from around 7% at the height of flu season to around 5% during less virulent months. CDC data indicate that deaths from those ailments began skyrocketing in the country around the second week of March, hitting a peak around early May and then plummeting quickly after that.


The latest data show that the percentage of deaths in the country attributable to those factors had as of the last week in June reached its lowest point since the end of last year, becoming “equal to the [current] epidemic threshold of 5.9%,” the CDC said. The agency notes that the official tally of deaths “will likely change as more death certificates are processed, particularly for recent weeks.” Yet the number of deaths attributable to COVID-19, pneumonia and influenza have been declining for 10 straight weeks, the agency said on its website, suggesting COVID-19 may cease to qualify as an epidemic in the next few weeks. The welcome news comes as fear over a “second wave” of the virus has gripped the U.S., with some states experiencing fresh surges of COVID-19 along with increased hospitalizations.

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It is almost funny. One day after a study is published that says HCQ does work, the WHO strikes back again.

Hydroxychloroquine Knocked Again: WHO Shuts Down Trials (F.)

The World Health Organization announced Saturday it would suspend trials for the malaria drug hydroxychloroquine and HIV treatment lopinavir/ritonavir for Covid-19 patients, casting further doubt on the drugs as potential coronavirus treatments. The two drugs “produced little or no reduction” in mortality rates for Covid-19 patients, the WHO’s statement read, and that the trial’s international steering committee recommended it discontinue the trials for the drugs. The call only applies to this specific trial and will not affect any other studies of how the treatments can be used as a pre- or post-exposure drug or by patients not in hospital, the WHO wrote.


According to Reuters, the WHO is also leading a trial into whether remdesivir, Gilead’s antiviral treatment, can be used for Covid-19 infections. Last month, the FDA announced it was withdrawing an emergency use authorization it issued in March for chloroquine and hydroxychloroquine as Covid-19 treatments because the potential side effects—namely heart problems—outweighed possible benefits, although according to the FDA website the organization is still investigating risks of the two drugs.

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The Zelenko research is finally available.

Early Treatment with Zinc, Low Dose HCQ and Azithromycin (Zelenko et al)

Objective: To describe outcomes of patients with coronavirus disease 2019 (COVID-19) in the outpatient setting after early treatment with zinc, low dose hydroxychloroquine, and azithromycin (the triple therapy) dependent on risk stratification. Design: Retrospective case series study. Setting: General practice. Participants: 141 COVID-19 patients with laboratory confirmed severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infections in the year 2020. Main Outcome Measures: Risk-stratified treatment decision, rate of hospitalization and all-cause death. Results: Of 335 positively PCR-tested COVID-19 patients, 127 were treated with the triple therapy. 104 of 127 met the defined risk stratification criteria and were included in the analysis.


In addition, 37 treated and eligible patients who were confirmed by IgG tests were included in the treatment group (total N=141). 208 of the 335 patients did not meet the risk stratification criteria and were not treated. After 4 days (median, IQR 3-6, available for N=66/141) of onset of symptoms, 141 patients (median age 58 years, IQR 40-60; 73% male) got a prescription for the triple therapy for 5 days. Independent public reference data from 377 confirmed COVID-19 patients of the same community were used as untreated control. 4 of 141 treated patients (2.8%) were hospitalized, which was significantly less (p<0.001) compared with 58 of 377 untreated patients (15.4%) (odds ratio 0.16, 95% CI 0.06-0.5).

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“The New England Journal of Medicine and The Lancet are the two most influential, most highly resourced medical journals in the world. If they no longer have the ability to detect what is essentially fraudulent research, then… Then what?”

Financial Muscle Of Big Pharma Distorting Science During The Pandemic (RT)

This idea was further reinforced by the knowledge that it has some effects on reducing the so-called ‘cytokine storm’ that is considered deadly with Covid-19. It’s prescribed in rheumatoid arthritis to reduce the immune attack on joints. The other reason for recommending hydroxychloroquine is that it’s extremely safe. It is, for example, the most widely prescribed drug in India. Billions upon billions of doses have been prescribed. It is available over the counter in most countries. So, I felt pretty comfortable in recommending that it could be tried. At worst, no harm would be done. Then hydroxychloroquine became the center of a worldwide storm. On one side, wearing the white hats, were the researchers who’d used it early on, where it seemed to show some significant benefits.

For example, Professor Didier Raoult, of the Institut Hospitalo-universitaire Méditerranée Infection, in France: “A renowned research professor in France has reported successful results from a new treatment for Covid-19, with early tests suggesting it can stop the virus from being contagious in just six days.” Then came this research from a Moroccan scientist at the University of Lille: “Jaouad Zemmouri … believes that 78 percent of Europe’s Covid-19 deaths could have been prevented if Europe had used hydroxychloroquine… Morocco, with a population of 36 million [roughly one tenth that of the US], has only 10,079 confirmed cases of Covid-19 and only 214 deaths. “Professor Zemmouri believes that Morocco’s use of hydroxychloroquine has resulted in an 82.5 percent recovery rate from Covid-19 and only a 2.1 percent fatality rate, in those admitted to hospital.”

Just prior to this, on May 22, a study was published in The Lancet, stating that hydroxychloroquine actually increased deaths. It then turned out that the data used could not be verified and was most likely made up. The authors had major conflicts of interest with pharmaceutical companies making anti-viral drugs. In early June, the entire article was retracted by Horton. Then a UK study came out suggesting that hydroxychloroquine did not work at all. Discussing the results, Professor Martin Landray, an Oxford University professor who is co-leading the Randomised Evaluation of Covid-19 Therapy (RECOVERY) trial, stated: “This is not a treatment for Covid-19. It doesn’t work. This result should change medical practice worldwide. We can now stop using a drug that is useless.”

The study has since been heavily criticized by other researchers, who state that the dose of hydroxychloroquine used was potentially toxic. It was also given far too late to have any positive effect. Many of the patients were already on ventilators. This week, I was sent a pre-proof copy of an article about a study that will be published in the International Journal of Infectious Diseases. Its author has found that hydroxychloroquine “significantly” decreased the death rate of patients involved in the analysis. The study analyzed 2,541 patients hospitalized in six hospitals between March 10 and May 2 2020, and found 13 percent of those treated with hydroxychloroquine died and 26 percent of those who did not receive the drug died.

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Smaller droplets.

More Than 200 Scientists Dispute WHO Theory On COVID19 Transmission (BT)

More than 230 scientists from 32 different countries have signed an open letter to the World Health Organisation (WHO) disputing the official view on how the coronavirus Covid-19 can be spread by aerosol. The official view of Covid-19 transmission supports two methods: droplets of saliva from an infected person produced during coughing or sneezing, which are then inhaled by someone else in the vicinity; and particles picked up from surfaces contaminated by such droplets, and then introduced to eyes, nose or mouth by someone else. However the open letter, due to be published next week in a scientific journal, argues that there is a third method.

In normal circumstances people produce aerosol droplets when singing or even speaking, which are much smaller than those produced in coughing and sneezing, and which because of their size, hang longer in the air and are also more likely to be carried on currents of air. The case for aerosol transmission came to light when 53 members of a 61-member choir in the US became infected in March despite observing sanitary measures. Two of those infected died. Scientists suggested that group singing was the source of the infection: a large group of people in a confined space breathing more or less in time with each other, and breathing in and out more forcefully than usual while singing.

That case was supported when news emerged of a restaurant in the Chinese city of Guangzhou, and an outbreak that took place there that affected ten people from three families dining at separate tables. One person from one of the families had recently returned from Wuhan, where the pandemic started, but was without symptoms.

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And will announce again they go green.

BP and Shell Write-Off Billions in Assets (ICN)

Two of the world’s largest energy companies have sent their strongest signals yet that the coronavirus pandemic may accelerate a global transition away from oil, and that billions of dollars invested in fossil fuel assets could go to waste. This week, Royal Dutch Shell said it would slash the value of its oil and gas assets by up to $22 billion amid a crash in oil prices. The announcement came two weeks after a similar declaration by BP, saying it would reduce the value of its assets by up to $17.5 billion. Both companies said the accounting moves were a response not only to the coronavirus-driven recession, but also to global efforts to tackle climate change. Some analysts say the global oil and gas industry is undergoing a fundamental transformation and is finally being forced to reckon with a future of dwindling demand for its products.


“I think we may look back on this as the turning point, the moment the industry finally started to say that real assets with real dollar figures associated with them are likely to be ‘stranded'”—or left undeveloped—”in a decarbonizing world,” said Andrew Logan, senior director of oil and gas at Ceres, a sustainable business advocacy group that has represented major investors in their engagement with oil companies. “This is a huge turnaround from the industry’s previous stance, which had been that no existing assets were likely to be stranded, that there may be risks in the future, but not in the here and now. That acknowledgment, that the risk is real and it’s here in the present, is a really big deal.”

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Ain’t that the truth.

Flynn’s Prosecution: The More We Learn, The Worse It Seems (Hill)

Flynn’s attorney, Sidney Powell, petitioned the court to order Sullivan to dismiss the appeals court case. Since both the prosecution and defense agree that the case should be dismissed, it had been in judicial limbo while the judge was deciding if he wanted to dismiss it or move forward with sentencing. This is the second federal court in less than a year to rebuke the FBI, with Judge Neomi Rao’s opinion noting the agency’s handling of cases related to the failed Russia collusion narrative. The Foreign Intelligence Surveillance Act (FISA) court also did so in December.

The second, and perhaps more significant, news was the revelation that additional evidence in the FBI’s possession was not previously turned over to Flynn or his attorneys. In a landmark case that is rapidly becoming known to many Americans, the Supreme Court held in Brady v. Maryland in 1963 that prosecutors must disclose the existence of exculpatory evidence to a defendant, regardless of how they obtained it or if it relates to their theory of prosecution. And therein lies a two-part problem with the recent disclosure of a handwritten note by fired deputy assistant FBI director Peter Strzok.

The first problem is that such nondisclosure would even occur — especially in the courtroom of Judge Sullivan, who was burned by prosecutors’ violations of the Brady rule, including the 2008 prosecution of former Sen. Ted Stevens (R-Alaska). Sullivan starts his trials with a strict admonition about Brady and stresses the continuing obligation on the part of the government. The second concern is that Strzok’s notes appear to document that then-President Obama and then-Vice President Joe Biden were driving a criminal investigation of a senior official of an incoming administration from the Oval Office.

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Halper’s role is ugly on multiple fronts.

False Allegations Of Affair With Flynn Used As Pretext For FBI Probe (JTN)

Svetlana Lokhova’s life flipped upside down when she became ensnared in what she describes as a completely false narrative that she had recruited Michael Flynn to work with the Russian government. Lokhova, an immigrant from Russia to Britain who worked as an academic at the world-renowned Cambridge University, found herself facing allegations that she had been involved in an affair with Flynn. A new mother at the time, Lokhova described herself as “absolutely gobsmacked” by the allegations. She explained during an interview on the “John Solomon Reports” podcast that she met Flynn once in 2014 when he visited Cambridge while he was serving as the Director of the Defense Intelligence Agency.

She was seated across the table and one seat down from Flynn at a 2014 dinner that was held after Flynn had delivered a presentation, she said. During the dinner, Lokhova spoke about a postcard written by a young Joseph Stalin in 1912 that she had discovered in the Soviet archives. Flynn viewed the document on her iPad and requested that Lokhova email him a copy. She obliged, emailing it to Flynn and copying Flynn’s assistant. When Flynn left the event, Lokhova said, she remained and spoke with others about “how successful the dinner was.” During the podcast, Lokhova recalled an incident when an American man at Cambridge named Stefan Halper fell asleep and snored during a presentation that she gave.

But despite his apparent lack of interest in her, Halper in 2016 wanted to have dinner with her. Halper requested “through my professor to have a private dinner with me at my professor’s house,” Lokhova said. She declined to attend, and said that this occurred shortly after Flynn was announced as a Trump campaign adviser. Lokhova said that an FBI memo revealed that Halper told the FBI that he witnessed Lokhova departing the Cambridge dinner in a cab with Flynn and boarding a train along with him. She said Halper also claimed she was affiliated with Russian intelligence. Lokhova said all of those allegations are false and that Halper did not even attend the dinner. “But based on this completely false statement that I somehow seduced General Flynn, they start investigating General Flynn for espionage,” she said.

Read more …

Fine by me, fine by me. But a Dutch guy had me laugh when he wrote: “I don’t know about yours, but my ID card only has a photo of my head on it”.

Sex Will Be Removed From Dutch ID-Cards (BT)

Identity cards in the Netherlands will no longer state whether the holder is male or female, from 2024 or 2025. With this decision, the government wants to meet people who, for example, do not feel entirely male or female. The sex indication will not be removed until about four years from now, as the production of identity cards would be reviewed then anyway, making the costs and consequences of the change “limited,” according to Dutch Minister for Emancipation Ingrid van Engelshoven. However, the law and the instructions for the police still have to be amended. Interest groups COC Nederland (lesbians, gay men, bisexual, transgender and intersexual people), NNID (sex diversity) and TNN (transgender people) have been arguing for this for some time.


They are happy with the plans and call it “great news for people who have problems with that indication of sex on their identity documents day in, day out,” reports Het Laatste Nieuws. According to the organisations, the removal offers a solution to people who keep getting unnecessary and indiscreet questions at counters, on the train or at the border. For the time being, international passports will retain a sex indication. The Cabinet wants to wait and see if other countries want to get rid of gender registration, reports NOS. Germany, for example, has had an identity card without the designation ‘man’ or ‘woman’ for some time now, and an increasing number of countries are offering the same possibility.

Read more …

 

 

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Jul 042020
 


Kennedy and Johnson Morning of Nov 22 1963

 

Trump Signs Order To Create ‘National Garden’ Of Statues (Hill)
CNN Refers to Washington and Jefferson as Just ‘Two Slave Owners’ (GP)
Mexico Closes US Border In Arizona To Stop July 4th Visitors (ST)
Widespread Use Of Face Masks Could Save Tens Of Thousands Of Lives (NPR)
Mutiny on the Bounties (Ray McGovern)
Canada Suspends Its Extradition Treaty With Hong Kong (R.)
Epstein’s Ponzi Scheme Partner: Ghislaine Will ‘Crack In Two Seconds’ (DC)
Ghislaine Maxwell ‘Sat On Buckingham Palace Throne’ (Ind.)
Fitch Downgrades Record Number Of Sovereign Ratings Due To Coronavirus (CNBC)
The Stakes Of Losing This DICE Game Are Enormous (M.)

 

 

What drags me down a little more each day is the amount of venom that’s being spread around seemingly indiscriminately. I don’t see a single voice calling for dialogue.

I don’t think that our main task today should be to make the past APPEAR less terrible, but to make our own times BE less terrible.

One way to do that must certainly be to slow down or halt the war machine, but while everyone’s heating up about statues, the House passes a resolution that blocks US soldiers from coming home.

And Julian Assange is still pining away.

Time to focus on what really matters.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add your own preferences.

Trump Signs Order To Create ‘National Garden’ Of Statues (Hill)

The White House unveiled an executive order Friday evening to create a “National Garden of American Heroes” that will feature statues of prominent Americans. The executive order, which President Trump announced during a Fourth of July celebration at Mount Rushmore, comes as the nation grapples with calls to tear down Confederate statues across the country and address other racist iconography. “These statues are silent teachers in solid form of stone and metal. They preserve the memory of our American story and stir in us a spirit of responsibility for the chapters yet unwritten. These works of art call forth gratitude for the accomplishments and sacrifices of our exceptional fellow citizens who, despite their flaws, placed their virtues, their talents, and their lives in the service of our Nation,” reads the executive order, which was disseminated by the White House.

The executive order establishes the Task Force for Building and Rebuilding Monuments to American Heroes, which will be empowered to use funding from the Interior Department to establish the site. The task force has 60 days to submit a report to the White House detailing options for the creation of the National Garden, including potential locations. The executive order says the garden will include statues of John Adams, Susan B. Anthony, Clara Barton, Daniel Boone, Davy Crockett, Frederick Douglass, Amelia Earhart, Benjamin Franklin, Thomas Jefferson, Martin Luther King Jr., Abraham Lincoln, Ronald Reagan, Jackie Robinson and Harriet Tubman, among others.

The garden will also “separately maintain a collection of statues for temporary display at appropriate sites around the United States that are accessible to the general public.” Under the order, the garden will be open prior to July 4, 2026, the 250th anniversary of the proclamation of the Declaration of Independence. The executive order also address current calls to topple Confederate statues, underscoring that other activists have called for the dismantling of monuments to figures who owned slaves but were not in the Confederacy, including former presidents George Washington and Thomas Jefferson.

“To destroy a monument is to desecrate our common inheritance. In recent weeks, in the midst of protests across America, many monuments have been vandalized or destroyed. Some local governments have responded by taking their monuments down,” the order reads. “These statues are not ours alone, to be discarded at the whim of those inflamed by fashionable political passions; they belong to generations that have come before us and to generations yet unborn.”

Read more …

Flavor of the day politics.

CNN Refers to Washington and Jefferson as Just ‘Two Slave Owners’ (GP)

The resentment for America at CNN was on full display during Independence Day weekend, particularly as a CNN pundit referred to the Founding Fathers as just a couple of slave owners. During the network’s coverage of President Donald Trump’s speech at Mt. Rushmore, Leyla Santiago said that “President Trump will be at Mount Rushmore, where he’ll be standing in front of a monument of two slave owners and on land wrestled away from Native Americans.” The remarkably anti-American commentary lit social media ablaze, with patriots absolutely shredding the network for their hostility towards our nation.

“CNN has reduced the Founding Fathers of America, George Washington and Thomas Jefferson to just ‘two slave owners,’” JT Lewis, whose brother was killed during the school shooting in Sandy Hook, tweeted. “CNN hates America.” The segment was wildly different than how they covered Bernie Sanders appearing at Mt. Rushmore in 2016.

Read more …

Funniest comment of the day was to this:

“It happened! Mexico is paying for the wall!”

Mexico Closes US Border In Arizona To Stop July 4th Visitors (ST)

As coronavirus cases surge across the U.S., one Mexican state is closing itself off from its northern neighbor out of concern for safety, outlets report. Officials in Sonora, Mexico moved quickly to slam the border shut before the start of the July Fourth weekend, traditionally a peak tourism time as Americans flock south to celebrate, the Arizona Daily Star reported. Officials have not announced a reopening date. Sonora is in a difficult position. It’s struggling to control the pandemic within its own borders, and just above is Arizona, one of the most afflicted states in the U.S..


“We are all going to be on alert at this time to prevent them from coming, whether they are Mexicans living in the U.S., Americans or those who want to come to spend the weekend and put a greater burden on us regarding COVID,” Senora Gov. Claudia Pavlovich said in a statement, according to the Daily Star. Arizona has seen more than 90,000 infections and nearly 1,800 deaths as of Friday, state data shows. It hit a one-day record on Wednesday with 4,878 new COVID-19 cases.

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There’s Fauci again.

Widespread Use Of Face Masks Could Save Tens Of Thousands Of Lives (NPR)

More widespread wearing of face masks could prevent tens of thousands of deaths by COVID-19, epidemiologists and mathematicians project. A model from the University of Washington’s Institute for Health Metrics and Evaluation shows that near-universal wearing of cloth or homemade masks could prevent between 17,742 and 28,030 deaths across the US before Oct. 1. The group, which advises the White House as well as state and local governments, is submitting the model for peer review, says Theo Vos, Professor of Health Metrics Sciences at IHME. Another projection developed by researchers at Arizona State University in April showed that 24–65% of projected deaths could be prevented in Washington state in April and May if 80% of people wore cloth or homemade masks in public.

These projections shed light on the promises face masks might hold as COVID-19 cases surge in some states and more local authorities mandate the wearing of face masks. Texas is now mandating face masks in public in most of the state; Jacksonville Fl, host city of the Republican National Convention in August, mandated wearing face masks in public and indoor locations where people cannot otherwise social distance on June 29. Republican leaders including Vice President Mike Pence, Majority Leader Mitch McConnell, Tim Scott of South Carolina, Lamar Alexander of Tennessee and Marco Rubio of Florida, have joined public health officials urging the public to wear facemasks.


Dr. Anthony Fauci and members of Congress appealed to the public to wear face masks in a congressional hearing Tuesday. And President Trump, in a change of tone, told Fox Business on Wednesday he’s ‘all for masks.’ But public health professionals lament that trust in face masks is hampered by the government’s earlier recommendation against them. Fauci told TheStreet mid-June that he did not recommend face masks at the beginning of the outbreak to conserve supplies for healthcare workers. On Thursday Fauci told NPR that the administration’s initial ambivalence towards face masks was ‘detrimental in getting the message across.’

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Good to see the condemnation of the Dems/Cheney deal is broad.

Mutiny on the Bounties (Ray McGovern)

Corporate media are binging on leaked Kool Aid not unlike the WMD concoction they offered 18 years ago to “justify” the U.S.-UK war of aggression on Iraq. Now Michael McFaul, ambassador to Russia under President Obama, has been enlisted by The Washington Post’s editorial page honcho, Fred Hiatt, to draw on his expertise (read, incurable Russophobia) to help stick President Donald Trump back into “Putin’s pocket.” (This has become increasingly urgent as the canard of “Russiagate” — including the linchpin claim that Russia hacked the DNC — lies gasping for air.) In an oped on Thursday McFaul presented a long list of Vladimir Putin’s alleged crimes, offering a more ostensibly sophisticated version of amateur Russian specialist, Rep. Jason Crow’s (D-CO) claim that: “Vladimir Putin wakes up every morning and goes to bed every night trying to figure out how to destroy American democracy.”

McFaul had — well, let’s call it an undistinguished career in Moscow. He arrived with a huge chip on his shoulder and proceeded to alienate just about all his hosts, save for the rabidly anti-Putin folks he openly and proudly cultivated. In a sense, McFaul became the epitome of what Henry Wooton described as the role of ambassador — “an honest man sent to lie abroad for the good of his country.” What should not be so readily accepted is an ambassador who comes back home and just can’t stop misleading. Not to doubt McFaul’s ulterior motives; one must assume him to be an “honest man” — however misguided, in my opinion. He seems to be a disciple of the James Clapper-Curtis LeMay-Joe McCarthy School of Russian Analysis.


Clapper, a graduate summa cum laude, certainly had the Russians pegged! Clapper was allowed to stay as Barack Obama’s director of national intelligence for three and a half years after perjuring himself in formal Senate testimony (on NSA’s illegal eavesdropping). On May 28, 2017 Clapper told NBC’s Chuck Todd about “the historical practices of the Russians, who typically, are almost genetically driven to co-opt, penetrate, gain favor, whatever, which is a typical Russian technique.” As a finale, in full knowledge of Clapper’s proclivities regarding Russia, Obama appointed him to prepare the evidence-impoverished, misnomered “Intelligence Community Assessment” claiming that Putin did all he could, including hacking the DNC, to help Trump get elected — the most embarrassing such “intelligence assessment” I have seen in half a century .

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If you don’t extradite to China, you can’t extradite to Hong Konng anymore.

Canada Suspends Its Extradition Treaty With Hong Kong (R.)

Canada is suspending its extradition treaty with Hong Kong in the wake of new Chinese national security legislation and could boost immigration from the former British colony, top officials said on Friday. China imposed the legislation this week despite protests from Hong Kongers and Western nations, setting what is a major financial hub on a more authoritarian track. Prime Minister Justin Trudeau said Canada would continue to stand up for Hong Kong, which is home to 300,000 Canadians. Canada will not permit the export of sensitive military items to Hong Kong, he told reporters.


“We are also suspending the Canada-Hong Kong extradition treaty … we are also looking at additional measures, including around immigration,” he said. He did not give details. Foreign Minister Francois-Philippe Champagne condemned the “secretive” way the legislation had been enacted and said Canada had been forced to reassess existing arrangements. “This is a significant step back in terms of freedom and liberty … we had been hoping Beijing would listen to the international community and reverse course,” he said by phone.

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This guy served 18 years. Epstein walked away free.

Epstein’s Ponzi Scheme Partner: Ghislaine Will ‘Crack In Two Seconds’ (DC)

Convicted sex offender Jeffrey Epstein’s cohort Ghislaine Maxwell will fully cooperate with authorities, according to Epstein’s Ponzi scheme partner Steven Hoffenberg. A grand jury indicted the British socialite and heiress on charges of conspiracy to entice minors to engage in illegal sex acts, conspiracy to transport minors for illegal sex acts, transportation of a minor to engage in illegal sex acts, and perjury. She was arrested at 8:30 am Thursday morning in Bradford, New Hampshire. Seventy-five-year-old Hoffenberg, who served 18 years in prison for masterminding one of the biggest Ponzi schemes in history with Epstein, told The Sun that Maxwell will “totally cooperate” with authorities.

Epstein avoided jail time for his role in the Ponzi scheme, according to Hoffenberg, but later died of apparent suicide in a New York City jail in August 2019 after being convicted of sex crimes. “They knew where she was all the time [in New Hampshire],” Hoffenberg told the publication. “It was a question if America was going to take the case or not, now America has made up its mind to take the case.” Hoffenberg reportedly maintains contact with Maxwell’s spokesperson, and told the Sun that Maxwell did not think she would be arrested. “If they keep her in prison, she’ll crack in two seconds,” he said. “She’s not able to take that sort of cruel punishment, prison is too tough and hard, she’ll have to be in solitary confinement, and she’ll snap.”


“She’s going to cooperate and be very important,” he added, before noting that her words might implicate high profile people including the UK’s Prince Andrew. “Andrew may be very concerned, and there’s a lot of people very worried, a lot of powerful people been named [in the scandal], and she knows everything.”

Read more …

Nice group of people. Spacey, Clinton, Maxwell, Prince Andrew. Just lovely.

Meanwhile Dershowitz wrote a Mea Not-at-All Culpa, but I don’t want to touch that. Check at your own risk.

Ghislaine Maxwell ‘Sat On Buckingham Palace Throne’ (Ind.)

Ghislaine Maxwell sat on the Queen’s throne during a private tour of Buckingham Palace organised by the Duke of York, it has been reported. A photograph printed by the Daily Telegraph appears to show the British socialite reclining in the ceremonial chair next to actor Keven Spacey in 2002. They were on a private tour of the palace organised by the Duke of York for former US president Bill Clinton, according to the newspaper. It comes after Maxwell was arrested in New Hampshire on Thursday over allegations she helped disgraced financier Jeffrey Epstein, her former boyfriend, “identify, befriend and groom” girls, including one as young as 14. Epstein was not on the palace tour when the picture was taken, the Telegraph said.


[..] Prince Andrew is now being urged to provide information to the FBI in relation to the investigation into Ms Maxwell, after she appeared in court accused of facilitating Epstein’s sexual exploitation of underage girls between 1994 and 1997. However, a lawyer for dozens of Epstein’s alleged victims has accused him of “deliberately evading authorities” and a US prosecutor described him as “falsely portraying himself as willing and eager to cooperate”. On Thursday, Maxwell was ordered to remain in custody by a magistrate while she is transferred to New York for a detention hearing. [..] Authorities also claim that Maxwell, who is also charged with two counts of perjury, lied when being questioned under oath in 2016. She has previously denied any wrongdoing or knowledge of sexual misconduct by Epstein.

Read more …

And the downgrades hit the ratings even more.

Fitch Downgrades Record Number Of Sovereign Ratings Due To Coronavirus (CNBC)

Fitch Ratings has downgraded a record 33 sovereign ratings in the first half of this year — and the agency is not done yet as the coronavirus pandemic pummels government finances. James McCormack, Fitch’s global head of sovereign ratings, said the agency has placed the credit ratings of 40 countries or sovereign entities on a “negative” outlook. That means those ratings have the potential to be downgraded. “We’ve never in the history of Fitch Ratings had 40 countries on negative outlook at the same time,” he told CNBC’s “Capital Connection” on Friday. “That comes after we’ve already downgraded in the first half of the year 33 sovereigns. We’ve never downgraded 33 in any given year, so we’ve already done it in half a year,” he added.


Sovereign credit ratings that Fitch has downgraded include the U.K., Australia and Hong Kong. McCormack explained many governments have increased spending to shelter their economies from being severely hit by the coronavirus pandemic. That’s expected to cause a deterioration in the financial positions of all 119 countries rated by Fitch, he said. Such deterioration could take the form of larger deficits or smaller surpluses in the government budgets, or an increase in debt, he added. The IMF has said that lockdown measures imposed in many countries to curb the spread of the coronavirus have hurt the global economy more than expected. The fund warned that global public debt could reach an all-time high of over 100% of the world’s GDP.

Read more …

GDP and CO2.

The Stakes Of Losing This DICE Game Are Enormous (M.)

The critique of Nordhaus’s DICE model came from the enormously creative, though admittedly heterodox, post-Keynesian Australian economist Professor Steve Keen. I have listened to some of Keen’s YouTube lectures about debt levels — he was one of a few maverick economists that correctly predicted the 2008–2009 mortgage crisis — but did not know that he had done any work on climate change economics.** To be honest, I had never looked carefully at the DICE model before for one very good reason: it is clearly ridiculous. According to DICE, the global economy will suffer an aggregate drop in GDP (i.e., all-in over the next 130 years, not annually in perpetuity) of a few percentage points even assuming a temperature increase high enough to cause agricultural output to plummet.

While Ivy League economists may not have a visceral sense of this, it is clear to your correspondent that large swathes of the workforce might be marginally less productive if they were only able to consume 500 food calories a day. Keen is a better man than I in that, like me, he could see that the output of the DICE model was ridiculous, but still took the time and effort to crawl through the details to figure out why. According to Keen, DICE’s egregious errors are threefold: • The assumption that the small effects on GDP from the modest changes in global temperature to date can be extrapolated into a future of much more extreme temperature increases, • The assumption that a complex adaptive (i.e., non-linear) system like our planet’s ecosystem would respond to extreme stimuli in a linear way, • A dubious mischaracterization of climate scientists’ assessment of ecological “tipping points” that leads to an assumption these potentially catastrophic points will never be reached.


No admirer of the statistician Box would expect the DICE model to be anything but wrong, but — considering that the UN’s IPCC is relying upon DICE to inform the opinion of policy makers — we should at least expect it to be useful. Reading Keen’s critique, however, I have realized that DICE acts as a literal weapon of mass destruction since it has the effect of breeding climate complacency among world leaders. If what I say is true, why is DICE not roundly criticized and ignored? I believe it has been adopted and its creator lauded because it represents the kind of palatable fiction that human decision makers find so comforting. Unfortunately, in investing as in life, the bug of palatable fiction sooner or later finds a windshield of harsh reality. Or, as a more eloquent Robert Louis Stevenson wrote, “Everybody, soon or late, sits down at a banquet of consequences.”

Read more …

 

 

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Jul 032020
 


Theodor Horydczak Washington Monument 1933 (soon to be renamed)

 

US Economic Reboot Menaced By Bug In The System (R.)
Florida Shatters Records With Over 10,000 New COVID19 Cases In Single Day (R.)
China Didn’t Alert WHO To Coronavirus Outbreak — The Internet Did (DC)
House Dems, Liz Cheney Restrict Trump’s Planned Troops Withdrawal (Greenwald)
Gilead Is Profiteering Off A COVID Drug We Already Paid For (Sirota)
Ghislaine Maxwell, Longtime Jeffrey Epstein Associate, Arrested (NYP)
Virginia Giuffre, Alan Dershowitz Both Lose In New Court Ruling (NYPost)
The Strategies of Dementia Politics (NR)
FedEx Asks Washington Redskins To Change The Team’s Name (NBC)

 

 

It’s Julian Assange’s birthday today. Light a candle.

 

 

Again, both the world and the US set new highs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

How Fauci shot his credibility:

 

 

Is a virus a bug?

US Economic Reboot Menaced By Bug In The System (R.)

Like a computer suffering from a pesky virus, the U.S. economy has been shut off and turned back on. This reboot seems to be working. The economy added almost 5 million jobs in June, on top of the roughly 3 million added in May, bringing the unemployment rate down over two percentage points to 11.1%. But as frustrated tech users know, short-term fixes are usually just that. Beyond the decent headline numbers, the labor force participation rate also increased to 61.5%, and around two-fifths of the job gains were in the hard-hit leisure and hospitality sector. Also, the Bureau of Labor Statistics actually revised the net jobs added over the previous two months upwards to 90,000.

But the root source of the economic woes – Covid-19 infections and deaths – is also moving northward. The U.S. reported almost 50,000 new cases on Wednesday, the fifth daily record in a little over a week, according to the New York Times. Texas hit a whopping 8,000 new daily cases. What these relatively decent jobs numbers may actually show is an economy that reopened too quickly. In fact, recent JPMorgan data from around 30 million of its credit- and debit-card holders shows that increased spending in restaurants appeared to be correlated with a rise in new infections three weeks later.

So the fragile recovery could easily crash – or at the very least, freeze. The virus spikes are prompting states and cities to stall or reverse reopenings. Texas has closed bars and limited restaurant occupancy. California shut down bars and indoor dining in 19 counties. And even New York City, which has dramatically reduced infections, decided on Wednesday to delay bringing back indoor dining at restaurants, which had been slated to restart next week.

Ultimately, it’ll be impossible to assess the depth of the lasting economic damage until reopening is mostly complete. In the topsy-turvy world of 2020, jobs numbers are not the best way to predict how the economy will perform. Until the bug is removed from the system, or brought under control, medical statistics will provide perhaps the most important information. With almost 2.7 million confirmed Covid-19 cases and 128,000 deaths, and rising, these numbers aren’t looking good.

Read more …

Time for a holiday…

Florida Shatters Records With Over 10,000 New COVID19 Cases In Single Day (R.)

Florida shattered records on Thursday when it reported over 10,000 new coronavirus cases, the biggest one-day increase in the state since the pandemic started, according to a Reuters tally. Outbreaks in Texas, California, Florida and Arizona have helped the United States break records and send cases rising at rates not seen since April. In June, Florida infections rose by 168% or over 95,000 new cases. The percent of tests coming back positive has skyrocketed to 15% from 4% at the end of May. Florida, with 21 million residents, has reported more new daily coronavirus cases than any European country had at the height of their outbreaks.


To contain the outbreak, Florida has closed bars and some beaches but the governor has resisted requiring masks statewide in public or reimposing a lockdown. Only one other state has reported more than 10,000 new cases in a single day. New York recorded 12,847 new infections on April 10, three weeks after the state implemented a strict lockdown that closed most businesses. While the state has relaxed many measures, it requires masks in public and mandates anyone arriving from 16 other U.S. states with high infections self-quarantine for two weeks. Once the epicenter of the U.S. epidemic, New York saw cases rise by about 6% in June – the lowest rate in the entire country.

Read more …

Let’s see how this plays out.

China Didn’t Alert WHO To Coronavirus Outbreak — The Internet Did (DC)

China didn’t alert the World Health Organization (WHO) to the coronavirus outbreak, a new timeline released by the WHO shows. China’s propaganda machine has claimed that China quickly reported the viral outbreak to the WHO, a claim that the WHO’s initial timeline supported. But the WHO found out about the outbreak from the internet, not from Chinese officials contacting them, according to the new timeline. The updated timeline, which was released June 29, says the WHO “picked up a media statement by the Wuhan Municipal Health Commission from their website” and also picked up a report on an American website, though it doesn’t say in what order those two events occurred.

The WHO doesn’t link to the Wuhan health commission’s media statement that it says tipped the organization off to the outbreak. Rep. Michael McCaul, the top Republican on the House Foreign Affairs Committee, expressed skepticism that the statement even exists. “Even if the Commission posted something on their website – which we have seen no proof they have – the CCP still did not report the outbreak to the WHO as required by the International Health Regulations,” McCaul said in a statement to the Daily Caller News Foundation. “As the updated WHO timeline clearly states, WHO staff ‘picked up a media statement…from their website’ – it was not sent to them by any officials in China,” the Texas Republican continued.

“I have repeatedly requested information from the WHO about what they knew and when they knew it, and I would welcome any clarity from them on this. But, so far, they have refused to answer any of those requests,” McCaul added. Dr. Michael Ryan, a top WHO official, previously said in an April 20 news conference that the American website, ProMED, gave the WHO its first indication of the coronavirus outbreak. “On 31st December information on our epidemic intelligence from open-source platform partners, PRO-MED, was received indicating a signal of a cluster of pneumonia cases in China. That was from open sources from Wuhan,” Ryan said.

Read more …

As I was saying yesterday. How did we ever come to see such acts as normal? I have no doubt that a vast a majority of Americans want to bring the troops home.

House Dems, Liz Cheney Restrict Trump’s Planned Troops Withdrawal (Greenwald)

Last night, the House Armed Services Committee voted overwhelmingly in favor of an amendment — jointly sponsored by Democratic Congressman Jason Crow of Colorado and Congresswoman Cheney of Wyoming — prohibiting the expenditure of monies to reduce the number of U.S. troops deployed in Afghanistan below 8,000 without a series of conditions first being met. The imposed conditions are by no means trivial: for these troop reductions from Afghanistan to be allowed, the Defense Department must be able to certify, among other things, that leaving Afghanistan “will not increase the risk for the expansion of existing or formation of new terrorist safe havens inside Afghanistan” and “will not compromise or otherwise negatively affect the ongoing United States counter terrorism mission against the Islamic State, al Qaeda, and associated forces.”

The Crow/Cheney amendment to the National Defense Authorization Act (NDAA) last night passed by a vote of 45-11. The NDAA was then unanimously approved by the Committee by a vote of 56-0. It authorizes $740.5 billion in military spending — roughly three times more than the world’s second-highest spender, China. President Trump throughout the year has insisted that the Pentagon present plans for withdrawing all troops from Afghanistan prior to the end of 2020. Last week, reports indicated that “the Trump administration is close to finalizing a decision to withdraw more than 4,000 troops from Afghanistan by the fall.” Trump’s plan “would reduce the number of troops from 8,600 to 4,500 and would be the lowest number since the very earliest days of the war in Afghanistan, which began in 2001.”

In February, Trump announced an agreement with the Taliban to end the war completely. Shortly after those White House withdrawal plans were reported, anonymous intelligence officials leaked a series of claims to the New York Times regarding “bounties” allegedly being paid by Russia to Taliban fighters to kill U.S. troops. Those leaks emboldened opposition to troop withdrawal from Afghanistan on the ground that it would be capitulating to Russian treachery. It was that New York Times leak that Liz Cheney, along with GOP Congressman Mac Thornberry, cited in a joint statement on Monday to suggest troop withdrawal would be precipitous:

“After today’s briefing with senior White House officials, we remain concerned about Russian activity in Afghanistan, including reports that they have targeted U.S. forces. It has been clear for some time that Russia does not wish us well in Afghanistan. We believe it is important to vigorously pursue any information related to Russia or any other country targeting our forces. Congress has no more important obligation than providing for the security of our nation and ensuring our forces have the resources they need. We anticipate further briefings on this issue in the coming days.”

[..] The NDAA that was approved last night by the Committee also imposed restrictions on Trump’s plan to withdraw troops from Germany. Trump’s plan called for the removal of roughly 9,500 troops from German soil, reducing the number of U.S. troops in this extremely prosperous and rich European nation from 34,500 to 25,000. But by an overwhelming vote of 49-7, the Armed Service Committee approved an amendment to the NDAA that “bans the administration from lowering troop levels below current levels until 180 days after Pentagon leaders present a plan to Congress and certify it will not harm U.S. or allied interests.”

Read more …

Never let a crisis go to waste.

Gilead Is Profiteering Off A COVID Drug We Already Paid For (Sirota)

This is a story of cause and effect — a tale of repeated and calculated public policy decisions that have now led to a predictable outcome. This story begins 25 years ago, when the Clinton administration rescinded a rule that required pharmaceutical companies to charge Americans reasonable prices for medicines developed at government expense. Some progressive lawmakers tried to reinstate the rule, but Republicans and Democrats joined together to halt those initiatives. In the ensuing years, the Obama administration refused Democratic lawmakers’ demand to invoke existing federal laws to force down the price of critical medicines.


Meanwhile, the GOP also blocked legislation to let Medicare use its purchasing power to negotiate lower prices for prescription drugs All of that reflected the lobbying, campaign contributions and indomitable bipartisan power of the pharmaceutical industry in Washington. And it led to a result that this newsletter has been warning about, as Gilead just announced that it will charge privately insured Americans more than $3,000 each for a 5-day COVID treatment that was developed with financial support from the government. That’s a $3,000 price tag for a government-sponsored drug treatment that experts say the company could offer at $10 and still make a profit.

Read more …

Wonder what happened to make it happen at this particular time. She seemed safe holed up in Paris.

Bookmakers are now taking your bets on her suicide.

Ghislaine Maxwell, Longtime Jeffrey Epstein Associate, Arrested (NYP)

Longtime Jeffrey Epstein associate Ghislaine Maxwell was arrested Thursday on a six-count indictment charging her with grooming young girls for sex. The British socialite, 58, was arrested by the FBI in New Hampshire around 8:30 a.m., authorities said. The just-unsealed indictment charges stem from Maxwell’s role “in the sexual exploitation and abuse of multiple minor girls by Jeffrey Epstein” as early as 1994, court papers say. “The victims were as young as 14 years old when they were groomed and abused by Maxwell and Epstein, both of whom knew that certain victims were in fact under the age of 18,” the indictment says.


She is specifically accused of grooming three underage victims for sex with Epstein in places including his Upper East Side townhouse, Florida, New Mexico and London. Maxwell is charged with six counts — conspiracy to entice minors to travel to engage in illegal sex acts, enticement of a minor to travel to engage in illegal sex acts, conspiracy to transport minors with intent to engage in criminal sexual activity, transportation of a minor with intent to engage in criminal sexual activity and two counts of perjury. Prosecutors also accuse Maxwell — a one-time girlfriend of Epstein’s — of repeatedly lying about her involvement in the financier’s sex trafficking ring during a 2016 deposition.

Read more …

From Wednesday, before Ghislaine was arrested. I’m thinking there is probably a connection, but I don’t know which.

There’s a curious line in here:

“The 13-page ruling said Cooper & Kirk “has not, from what the Court can tell, been actively working on the case.”

She has to destroy all the evidence because her lawyers were not working? What?

Virginia Giuffre, Alan Dershowitz Both Lose In New Court Ruling (NYPost)

Attorneys for alleged Jeffrey Epstein “sex slave” Virginia Roberts Giuffre were ordered Wednesday to destroy evidence from her case against Ghislaine Maxwell — as lawyer Alan Dershowitz was also denied access to the potentially explosive information. Manhattan federal Judge Loretta Preska said she was “troubled” to learn during oral arguments last week that Giuffre’s lawyers, from the firm of Cooper & Kirk, had been given sealed records from her since-settled suit against Maxwell, who Giuffre claims recruited her to have sex with Epstein and his pals while she was underage.

The other men allegedly include Dershowitz, whom Giuffre is suing for defamation over his public denials of her accusations, including calling her a “certified, complete, total liar,” and who is counter-suing Giuffre for causing “serious harm … to his reputation, his business and his health.” “As a practical matter, the Court would be surprised — shocked, even — if Cooper & Kirk was not in some sense ‘using’ the Maxwell discovery in its representation of Ms. Giuffre in her action against Mr. Dershowitz,” the judge wrote.

Preska also rejected claims by Giuffre’s lawyers that they were entitled to the evidence, obtained from her former attorneys at Boies Schiller Flexner, because they’d been hired to represent her in the Maxwell case. The 13-page ruling said Cooper & Kirk “has not, from what the Court can tell, been actively working on the case.” Preska directed the Cooper & Kirk lawyers to destroy the evidence, along with “any material, including work product, derived from” it, and to submit an affidavit afterward.

Read more …

I know I’m not supposed to quote right wing media, but this is just too funny. And it raises a valid point: they can’t keep Biden hidden from view forever, and now when he does come out, he’ll be nervous.

The Strategies of Dementia Politics (NR)

Stoke chaos, obstruct economic recovery, and hide Biden in the basement till Election Day.

Joe Biden is tragically suffering a mental eclipse and sliding away at a geometric rate. Understandably, his handlers have kept him out of sight. He stays off the campaign trail on the pretext of the virus and his age-related susceptibility to COVID-19 morbidity. I say “pretext” without apology. Quarantine should not have otherwise stopped Biden over the past three months from doing daily interviews, speeches, and meetings. But each occasion, however scripted, rehearsed, and canned, would only have offered further daily proof that Biden is cognitively unable to be president or indeed to hold any office. Often Biden cannot finish a sentence. Names are vague eddies in his mind’s river of forgetfulness.

He is in a far more dire mental state than a physically failing FDR was in his 1944 campaign for a fourth term. The earlier career of a healthy Biden illustrates that he was not especially sharp even when in control of most of his faculties. We recall the former sane/nutty Biden of Neal Kinnock plagiarism, his “put y’all in chains” demagoguery, the studied racism of Biden’s riffs about a “clean” and well-spoken Obama, and the sane/insane Corn Pop stories. All are the trademark of a once fool Joe Biden, who was at least alert when compared with his current catalepsy. If Donald Trump can be ungrammatical, Biden is agrammatical — he simply streams together half-thoughts without syntax and then abandons the sentence entirely.

If Trump repeats vocabulary, Biden increasingly searches for words, any noun, whatever its irrelevance to the point he is making. Biden seems to suffer dyscognitive seizures, in which for moments he has no idea what he is doing or saying or where he is — a tragic, nearly epileptic condition. In scary episodes, the pale, scaly, and frozen visage of Biden appears almost reptilian, like a lizard freezing and remaining stationary as it struggles to process signals of perceived danger. Inserting memorized answers into rehearsed questions, as if the entire con was spontaneous, only reveals how his once episodic dementia has become chronic as he loses his prompt and place. It was understandable that his handlers saw opportunity in secluding Biden during Trump’s tweeting, alongside the contagion, the lockdown, the recession, and the rioting that in voters’ minds had equated fear of chaos with the culpability of the current commander in chief.

Read more …

Redskins was always a problem. But while you’re toppling Washington statues, you want to keep his name linked to the team, the city? Can anyone explain the logic?

FedEx Asks Washington Redskins To Change The Team’s Name (NBC)

FedEx has asked the Washington Redskins to officially change their name, long condemned as an anti-Indigenous slur. The shipping company has communicated to the team a request that it change its name, FedEx confirmed Thursday in a statement to NBC News. FedEx owns the naming rights to the Maryland field where the team plays, and its chief executive, Fred Smith, owns a minority stake in the team. FedEx’s request comes a day after Adweek reported that 87 investment firms and shareholders worth $620 billion sent a letter urging FedEx, Nike and PepsiCo to stop doing business with the team until the name is changed.


In 2017, the Supreme Court struck down part of a law that bans offensive trademarks, which helped the team get the Redskins trademark back in 2018. The Trademark Trial and Appeal Board had canceled the registration as offensive to American Indians. [..] Mayor Muriel Bowser said last month on Washington radio station WTEM that the name has been an obstacle in getting the city its own stadium. “I think it’s past time for the team to deal with what offends so many people,” Bowser said. “And this is a great franchise with a great history that’s beloved in Washington, and it deserves a name that reflects the affection that we’ve built for the team.” [..] Dan Snyder, the team’s majority owner, told USA Today in 2013 that he would “never change the name.” “It’s that simple. NEVER — you can use caps,” he said.

Read more …

 

 

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Jul 022020
 
 July 2, 2020  Posted by at 10:44 am Finance Tagged with: , , , , , , , ,  39 Responses »


Marion Post Wolcott Unemployed coal miner’s mother in law and child. Marine, West Virginia 1938

 

Crisis at Houston Hospitals as Coronavirus Cases Surge (PP)
Coronavirus Immunity May Be More Widespread Than Tests Suggest (BBC)
Doctors Say Half Of ‘Cured’ COVID Patients Still Suffer (ToI)
House Votes To Block Trump’s Ability To Withdraw Forces From Afghanistan (Hill)
House Dems Introduce Resolution To Impeach AG Barr (SAC)
Freedom Rider: Russia, Afghanistan, and the Big Lie (BAR)
WaPo Admits ‘Russian Bounties’ Info “Deemed Sketchy” (ZH)
Afghan Bounty Scandal Comes at Suspiciously Important Time (MPN)
Biden Pulls Together 100s Of Lawyers As Bulwark Against Election Trickery (R.)
Storm Warning (Kunstler)
Top of the World (R.)

 

 

As the virus rages on into ever larger record numbers, today we are treated to the hilarious sight of two presidential candidates each accusing the other of being a Marxist. #ComradeTrump goes viral. One gets the feeling that maybe both parties hired the same PR firm. Or at least ones that use the same playbook. Which fails to mention that the Soviet Union dissolved some 30 years ago.

Or maybe those PR guys are all 80 years old, you know, same age as the candidates themselves? See, I’m thinking you must have been at least 15 years old when the wall came down, and therefore now be 45 years or older, to be scared by a portrait of Lenin or Stalin. And that would mean the PR fails to reach anyone younger than that.

Or, yeah, you can say he’s the second coming of Maduro, the man whose life his administration has been trying to turn into a living hell. But then you would fail to reach anyone with one single working neuron left. Or maybe I would just not be a good PR guy.

 

 

But at least we now know what that NYT and WaPo Afghan bounty story was planted for: the Democrat House gets to block Trump from bringing American troops home. While accusing each other of being extreme left, which will at some point force entire dictionaries to revise the meaning of such terms, they all move steadily towards the far right and the bidding of the war machine.

It’s theater, nothing in it is real, and you’re -literally- buying into it. Or wait, no, there is one thing that is real: people are going to get killed.

 

 

Both the world and the US set new highs.

 

 

 

 

 

 

 

 

 

 

 

“..an abrupt turn from three days earlier, when the hospital system sent a note to thousands of patients, inviting them to keep their surgical appointments.”

Note to staff at a Houston safety net hospital:
-50% of new COVID tests coming back positive
-No more ICU beds
-No more remdesivir
-No more convalescent plasma
-12 COVID patients in need of ICU care — stuck in the ER
-Tomorrow will be worse…

Crisis at Houston Hospitals as Coronavirus Cases Surge (PP)

At Lyndon B. Johnson Hospital on Sunday, the medical staff ran out of both space for new coronavirus patients and a key drug needed to treat them. With no open beds at the public hospital, a dozen COVID-19 patients who were in need of intensive care were stuck in the emergency room, awaiting transfers to other Houston area hospitals, according to a note sent to the staff and shared with reporters. A day later, the top physician executive at the Houston Methodist hospital system wrote to staff members warning that its coronavirus caseload was surging: “It has become necessary to consider delaying more surgical services to create further capacity for COVID-19 patients,” Dr. Robert Phillips said in the note, an abrupt turn from three days earlier, when the hospital system sent a note to thousands of patients, inviting them to keep their surgical appointments.

And at The University of Texas MD Anderson Cancer Center, staff members were alerted recently that the hospital would soon begin taking in cancer patients with COVID-19 from the city’s overburdened public hospital system, a highly unusual move for the specialty hospital. These internal messages highlight the growing strain that the coronavirus crisis is putting on hospital systems in the Houston region, where the number of patients hospitalized with COVID-19 has nearly quadrupled since Memorial Day. As of Tuesday, more than 3,000 people were hospitalized for the coronavirus in the region, including nearly 800 in intensive care.

“To tell you the truth, what worries me is not this week, where we’re still kind of handling it,” said Roberta Schwartz, Houston Methodist’s chief innovation officer, who’s been helping lead the system’s efforts to expand beds for COVID-19 patents. “I’m really worried about next week.”

Read more …

Here’s your daily dose of hope….

Coronavirus Immunity May Be More Widespread Than Tests Suggest (BBC)

People testing negative for coronavirus antibodies may still have some immunity, a study has suggested. For every person testing positive for antibodies, two were found to have specific T-cells which identify and destroy infected cells. This was seen even in people who had mild or symptomless cases of Covid-19. But it’s not yet clear whether this just protects that individual, or if it might also stop them from passing on the infection to others. Researchers at the Karolinksa Institute in Sweden tested 200 people for both antibodies and T-cells. Some were blood donors while others were tracked down from the group of people first infected in Sweden, mainly returning from earlier affected areas like northern Italy.


This could mean a wider group have some level of immunity to Covid-19 than antibody testing figures, like those published as part of the UK Office for National Statistics Infection Survey, suggest. It’s likely those people did mount an antibody response, but either it had faded or was not detectable by the current tests. And these people should be protected if they are exposed to the virus for a second time. Prof Danny Altmann at Imperial College London described the study as “robust, impressive and thorough” and said it added to a growing body of evidence that “antibody testing alone underestimates immunity”.

Read more …

…. immediately followed by something worse..

Doctors Say Half Of ‘Cured’ COVID Patients Still Suffer (ToI)

Recovered COVID patients are baffling doctors with complaints of freak pains, lungs that just won’t get back to normal, and a range of incapacitating psychological issues. “What we are seeing is very frightening,” Prof. Gabriel Izbicki of Jerusalem’s Shaare Zedek Medical Center told The Times of Israel. “More than half the patients, weeks after testing negative, are still symptomatic.” Izbicki is working on a study that involves follow-up with patients who were in hospitals or coronavirus hotels, looking at the aftereffects of the virus and trying to understand why patients continue to suffer long after being confirmed negative. “There is very little research about the mid-term affect of coronavirus,” he said, adding that it is much needed to guide doctors.


In Bnei Brak, at Israel’s first community clinic, doctors have been seeing a spike in recent days in the patients with pains that appear to come from nowhere. “It can appear in the arms, legs, or other places where the virus doesn’t have a direct impact, and if you ask about the pain level on a 1 to 10 scale, can be 10, with people saying they can’t get to sleep,” said Eran Schenker, director of the month-old clinic in Bnei Brak run by Maccabi Healthcare Services. “It’s something which we’re starting to see much more in the last week.” A patient from the clinic spoke to The Times of Israel on condition that her name is not published. She was diagnosed in March and tested negative a month ago. But the woman, a Bnei Brak resident in her 40s, still has severe fatigue and anxiety, and can only walk for a few minutes at a time.

Read more …

TEXT gress to limit the powers of the presidency so of course preventing his ability to end a pointless war is the one time they actually decide to do it

House Votes To Block Trump’s Ability To Withdraw Forces From Afghanistan (Hill)

The House Armed Services Committee voted Wednesday to put roadblocks on President Trump’s ability to withdraw from Afghanistan, including requiring an assessment on whether any country has offered incentives for the Taliban to attack U.S. and coalition troops. The National Defense Authorization Act (NDAA) amendment, from Rep. Jason Crow (D-Colo.), would require several certifications before the U.S. military can further draw down in Afghanistan. The amendment was approved 45-11. Rep. Liz Cheney (Wyo.), the No. 3 House Republican, argued the amendment “lays out, in a very responsible level of specificity, what is going to be required if we are going to in fact make decisions about troop levels based on conditions on the ground and based on what’s required for our own security, not based on political timelines.”

“And that is crucially important, and I think it is our number one priority,” she added. The amendment comes as Trump’s withdrawal deal with the Taliban remains precarious as high violence levels persist in Afghanistan. The U.S. military has said it is down to 8,600 troops in line with the agreement to get to that level by mid-July. But military officials have insisted any further drawdown will be based on conditions on the ground that are not yet met, even as Trump pushes for a speedy withdrawal. [..] Among the amendment’s requirements is an assessment of whether any “state actors have provided any incentives to the Taliban, their affiliates, or other foreign terrorist organizations for attacks against United States, coalition, or Afghan security forces or civilians in Afghanistan in the last two years, including the details of any attacks believed to have been connected with such incentives.”

Rep. Seth Moulton (D-Mass.) framed the measure as particularly important in light of the revelations. “There’s been bipartisan criticism of what a weak deal [Trump] got with the Taliban, a deal that is already falling apart,” Moulton said. “Now we learned that he was making this deal at the same time as there were bounties on the heads of American troops, American sons and daughters. We clearly need more oversight over what the president is doing in Afghanistan.”

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Comedy Capers.

House Dems Introduce Resolution To Impeach AG Barr (SAC)

House Democrats on Tuesday introduced a resolution to ‘investigate and consider’ impeaching Attorney General William Barr. The move comes just a few months after their failed attempt to impeach President Donald Trump. Congressman Steve Cohen, R-TN, brought the measure to the House floor with the support of 35 co-sponsors. The group alleges that “Attorney General Barr has undermined our judicial system and perverted the rule of law.” He added, “In the past few weeks alone, Barr has ordered the attack on peaceful protestors in Lafayette Park, in violation of their constitutional rights, and moved to drop charges against Michael Flynn, the President’s former campaign advisor, despite his guilty pleas. He fired without any explanation the U.S. Attorney in the Southern District of New York who was overseeing investigations into the President’s associates and possibly the President himself.”


“The pattern here is unmistakable. Barr obstructs justice by favoring the President’s friends and political allies. He abuses his power by using the Department of Justice to harass, intimidate and attack disfavored Americans and the President’s political opponents. My oath to support and defend the Constitution compels me to confront this corruption. Congress is a co-equal branch of government and we must get to the bottom of this and hold Bill Barr accountable.” Ranking Member of the House Judiciary Committee Rep. Jim Jordan criticized his colleagues’ move saying, “Are you kidding me?”, adding “Bill Barr is cleaning up the mess that Obama, Biden, and Comey created!”

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The black left doesn’t buy it either.

Freedom Rider: Russia, Afghanistan, and the Big Lie (BAR)

There is no end to the Russiagate fraud. All major charges have been disproved. No one was convicted of the dreaded “collusion” that was reported endlessly for the last four years. Damning information is now declassified and casts doubt on the veracity of the whole story. CrowdStrike, the Democratic National Committee cyber security firm, admitted under oath they had no proof of hacking by Russia or anyone else. Robert Mueller ended his two-year long, multi-million dollar investigation with nothing except convictions for process crimes. Why then did the New York Times print a story with an unnamed intelligence agency source claiming that the Russian government paid the Taliban to kill American soldiers in Afghanistan? The charge is ludicrous on its face but the story is quite useful to people who want to hide their own criminality while simultaneously keeping Trump hamstrung in an election year.

Russia is the nation least likely to do business with jihadists. In the late 1990s and early 2000s, jihadists nearly tore Russia apart. Separatists from the Chechnya region terrorized the entire country which was weakened and divided after the collapse of the Soviet Union. Because of that experience Russia eagerly assisted the United States after the September 11 attacks. Far from impeding the U.S. presence, Russia and other former Soviet republics were steadfast participants in the Northern Distribution Network (NDN). NDN was a supply line carrying materiel from Russia, through central Asian nations and finally to Afghanistan. Russia allowed the use of its air space in troop transit flights. Far from being an enemy, Russia assisted the U.S. and its coalition in their fight against the Taliban.

Russia’s NDN cooperation lasted until 2015, when U.S. meddling in Ukraine poisoned relations between the two countries. Hostility towards jihadists remains a focus of Russian foreign policy decision making. The concern that ISIS might take control of Syria was the primary reason that Russia finally helped president Assad in 2015. Not only does this latest claim make little sense, but there is no source for this information. We are told that an anonymous intelligence official revealed the Russian bounty and that Donald Trump was aware of it but did nothing. Anonymous intelligence sources are the cause of much mischief. They will tell the public that Iraq has weapons of mass destruction or that Muammar Gaddafi is planning a massacre. In both instances the rationale for lying was to get public approval for U.S. aggression. In this case keeping the failing Russiagate narrative alive is a motive for more disinformation.

The timing of this dubious reporting is significant. An appeal’s court recently ruled that a federal judge must dismiss Michael Flynn’s conviction for lying to FBI agents. Flynn was set up by James Comey and Barack Obama with some involvement or knowledge on the part of Joe Biden. The timing of this development could not have been worse. When Flynn’s charges are dismissed, the story will truly begin to unravel and the corporate media will lose its monopoly on information.

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But wait, just now the NYT “reports” they have tracked down an Afghani who paid someone with Russian dollars!

WaPo Admits ‘Russian Bounties’ Info “Deemed Sketchy” (ZH)

Congressional leaders have demanded answers, and those answers have come in the form of multiple US intelligence agencies and chiefs essentially throwing cold water on the NY Times Russian bounties to kill American troops in Afghanistan story, as we’ve detailed. We expect this “bombshell” will be very short-lived, perhaps being memory holed by the weekend, akin to the fate of other Russiagate-related ‘anonymous sources say’ type stories. The Pentagon is the latest to say that DOD-wide there is currently “no corroborating evidence at this time to validate the recent allegations regarding malight activity by Russian personnel against US forces in Afghanistan,” according to a late Tuesday evening statement by Defense Secretary Mark Esper.

And yet the Times is busy publishing photos of slain Marines to help bolster what’s increasingly looking like a propaganda hit piece ahead of the November election, for which there’s already been considerable backlash from the public. As of Wednesday it’s been revealed that a highly respected career intelligence officer previously made the decision to not brief President Trump on what the Washington Post now belatedly admits was widely “deemed sketchy” information the CIA had obtained in 2019 through either a foreign source or report. This line from the Post is certainly awkward for them and the Times:

“The Washington Post reported on Tuesday that White House officials were first informed in early 2019 of intelligence reports that Russia was offering the bounties to kill U.S. and coalition military personnel, but the information was deemed sketchy and in need of additional confirmation, according to people familiar with the matter.”

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“They are reporting the ‘fact’ that there was a rumor.”

Afghan Bounty Scandal Comes at Suspiciously Important Time (MPN)

Based on anonymous intelligence sources, The New York Times, Washington Post, and Wall Street Journal released bombshell reports alleging that Russia is paying the Taliban bounties for every U.S. soldier they can kill. The story caused an uproar in the United States, dominating the news cycle and leading presumptive Democratic presidential candidate Joe Biden to accuse Trump of “dereliction of duty” and “continuing his embarrassing campaign of deference and debasing himself before Vladimir Putin.” “This is beyond the pale,” the former vice-president concluded. However, there are a number of reasons to be suspicious of the new reports. Firstly, they appear all to be based entirely on the same intelligence officials who insisted on anonymity.

The official could not provide any concrete evidence, nor establish that any Americans had actually died as a result, offering only vague assertions and admitting that the information came from “interrogated” (i.e. tortured) Afghan militants. All three reports stressed the uncertainty of the claims, with the only sources who went on record — the White House, the Kremlin, and the Taliban — all vociferously denying it all. The national security state also has a history of using anonymous officials to plant stories that lead to war. In 2003, the country was awash with stories that Saddam Hussein possessed weapons of mass destruction, in 2011 anonymous officials warned of an impending genocide in Libya, while in 2018 officials accused Bashar al-Assad of attacking Douma with chemical weapons, setting the stage for a bombing campaign. All turned out to be untrue.

“After all we’ve been through, we’re supposed to give anonymous ‘intelligence officials’ in The New York Times the benefit of the doubt on something like this? I don’t think so,” Scott Horton, Editorial Director of Antiwar.com and author of “Fool’s Errand: Time to End the War in Afghanistan,” told MintPress News. “All three stories were written in language conceding they did not know if the story was true,” he said, “They are reporting the ‘fact’ that there was a rumor.” Horton continued: “There were claims in 2017 that Russia was arming and paying the Taliban, but then the generals admitted to Congress they had no evidence of either. In a humiliating debacle, also in 2017, CNN claimed a big scoop about Putin’s support for the Taliban when furnished with some photos of Taliban fighters with old Russian weapons. The military veteran journalists at Task and Purpose quickly debunked every claim in their piece.”

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Ha ha ha. Lawyers For Honesty is a great name. Everyone knows how honest they are.

Biden Pulls Together 100s Of Lawyers As Bulwark Against Election Trickery (R.)

Democratic presidential candidate Joe Biden said on Wednesday that his party has assembled a group of 600 lawyers and thousands of other people to prepare for possible “chicanery” ahead of November’s election. “We put together 600 lawyers and a group of people throughout the country who are going into every single state to try to figure out whether chicanery is likely to take place,” Biden, the presumptive Democratic nominee, said on a video conference with donors to his campaign. “We have over 10,000 people signed up to volunteer. We’re in the process of getting into the states in question to train them to be in a polling place,” he said, in a time when the coronavirus pandemic requires extra precautions.


Biden’s remarks come as the candidate offers dire warnings about efforts by Republicans to cheat in the Nov. 3 election while also criticizing his election opponent, Republican President Donald Trump, for undermining confidence in the vote. A senior political adviser and top lawyer for Trump’s campaign, Justin Clark, said Biden is lying and stoking fear while Democrats are trying to “fundamentally change” how elections are conducted, an apparent reference to their support for widespread mail-in voting. Republicans have argued that mail-in voting and other changes being suggested by Democrats in the midst of the pandemic could create fraud. “They are inserting chaos and confusion into our voting process because it is the only way they can win,” Clark said in a statement, adding that the president is committed to “fair and free elections.”

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“Imagine how many mortgage, car payments, and small business loan defaults will crackle across the land, and how that will thunder through the banking system.”

Storm Warning (Kunstler)

While Mr. Trump seems to dimly apprehend the urgent need for economic restructuring, he’s able to express it only in messages that sound like a 1961 Frigidaire commercial, with overtones of Marvel Comics superhero grandiosity. The president may understand that a country can’t consume stuff without producing stuff, but he doesn’t get that it’s too late to bring back all that activity at the scale we used to run it when he was a young man in the 1960s. His answer to the call of restructuring — what the Soviets called perestroika before they fell apart — is to pile on more debt, that is, borrow more from the future to pay for hamburgers today.

That dovetails neatly with the needs of the financial community, led by the hapless “Jay” Powell at the Federal Reserve, who is on a mission to destroy the U.S. dollar in order to save the banking system and its auxiliaries in the stock markets. He literally doesn’t know what to do — except “print” more dollars to support share prices, a symbolic talisman of theoretical economics that has less and less to do with what people actually do on-the-ground in the hours when they’re not sleeping. It looks unlikely that the Fed will rescue either Wall Street or Main Street. The longer he props up the former at the expense of the latter, the more certain it is that it will provoke insurrection that goes well beyond the current hostilities.

The looting and arson of recent days hugely aggravated a central feature of it: the destruction of small business. In Minneapolis alone, the damage stands at $100-million. Things were difficult enough under the strictures of Covid-19, but this guarantees that many cities will not see the return of commerce — and there are only a few other reasons for cities to even exist. Not only did the Democratic Party fail to object to the mayhem, but the city governments they controlled abetted, incited, and applauded the anarchy. Meanwhile, last Saturday in Tulsa, Mr. Trump made the signal error of bragging on the latest highs in the stock markets. Hasn’t he learned by now what a flimsy representation of reality that is?

Evidently not. The air may be coming out of that lifebuoy in the next couple of weeks, and his election prospects will sink with it. This will happen as the nation approaches the dark moment when the postponement of debt repayments ends. Imagine how many mortgage, car payments, and small business loan defaults will crackle across the land, and how that will thunder through the banking system.

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What happens when you have no markets.

Top of the World (R.)

Tesla’s electrifying rise claimed its biggest victim yet. During morning trading on Wednesday, shares in the Silicon Valley upstart rose some 5% to briefly hit a market value of $210 billion, overtaking Toyota Motor as the world’s largest carmaker by market worth. Undeserved as that may be, it shifts Chief Executive Elon Musk’s performance bonus into overdrive. The maker of the Model 3 has long traded on a far higher multiple of earnings than its traditional, internal combustion engine-focused rivals. But after a 400% share-price turbo boost over the past 12 months – lapping Ford Motor, then General Motors then Volkswagen – Tesla now trades at 69 times estimated 2022 earnings, according to Refinitiv data. Toyota, by contrast, trades just below 10 times earnings for that calendar year.

Tesla’s current price requires the utmost faith in Elon Musk’s ability either to deliver millions more vehicles a year than the 400,000 he managed last year, or to roll out a large fleet of cheap-to-run robo-taxis. Neither looks likely any time soon. But the valuation also starts the clock on another huge payout for Musk. Shareholders two years ago approved a 10-year performance package that allows the boss to be given shares equal to 12% of the amount outstanding, worth in total as much as $60 billion. Getting them requires hitting both a market value target as well as either a revenue or adjusted EBITDA goal.

He was awarded the first of the 12 possible tranches a little over a month ago, based on a $100 billion market value and $20 billion of annual revenue. The shares had already zoomed past the second market-value target – $150 billion – on the way to its current level, though Musk has to wait for that to register on a six-month average basis.

Read more …

 

 

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• CNN headline yesterday: “Russian voters OVERWHELMINGLY back a PLOY by Putin to rule until 2036…”

• CNN headline today: “SOME Russian voters back a PLOY by Putin to rule until 2036..”

Isn’t that a cute change? And I’m thinking: yeah, because we know if they had the choice, they’d all vote for Joe Biden…

 

 

 

 

 

 

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Jul 012020
 
 July 1, 2020  Posted by at 11:30 am Finance Tagged with: , , , , , , ,  33 Responses »


Henri de Toulouse-Lautrec Portrait of Vincent van Gogh 1887

 

US Has “Way Too Much Virus” To Contain Outbreak (Axios)
Fauci Warns Of 100,000 US Cases Per Day (BBC)
US Buys Almost Entire World’s Supply Of Coronavirus Drug (Ind.)
People In Their 20s Largest Age Group Of New COVID-19 Cases In Minnesota (MPR)
The Biggest Myths About The National Deficit (Alt.)

 

 

Only yesterday I wrote “..at this point it is entirely unclear how countries like the US and Brazil will ever be able to get rid of the virus.” Dr. Fauci, also yesterday, said “We are now having 40-plus thousand new cases a day. I would not be surprised if we go up to 100,000 a day if this does not turn around..”

Turn around? How? CDC principal deputy director Anne Schuchat said the US has “way too much virus” to contain the outbreak.” Scott Gottlieb has even more dire numbers:

 

 

Things are not looking good at all. But there’s more. The nationwide protests are perceived, presented, played as anti-Trump manifestations. By both political sides, for political gain. And by the media for financial gain. That makes them de facto election rallies. And the pro-Trump side will not accept any more restrictions on their own rallies, which they (will) argue are just as legitimate. Because they have an election to contest.

If the BLM protests can continue, despite virus warnings and limited numbers at gatherings, then the conservatives will gather too, in comparable numbers. And they don’t “believe” in distancing or face masks, they claim they don’t reduce their risks, they reduce their freedom.

“Perfect storm” is an often abused term. But it does come to mind here and now.

And you thought the first half of 2020 was hard.

 

 

 

 

US has sixth day in a row with over 40,000 new cases

 

 

 

 

 

 

 

 

 

Yes, I would think it’s obvious by now.

US Has “Way Too Much Virus” To Contain Outbreak (Axios)

The novel coronavirus is spreading too widely and quickly to contain, CDC principal deputy director Anne Schuchat told The Journal of the American Medical Association Monday, warning she expects “this virus to continue to circulate.” Per Schuchat, “This is really the beginning, and what we hope is that we can take it seriously and slow the transmission.” Her comments are in contrast to those of senior members of the Trump administration — notably Vice President Mike Pence, who said on Friday “we have made truly remarkable progress.” COVID-19 cases are surging across the U.S., prompting states including Texas, Arizona and New Jersey to pause plans to reopen their economies in recent days.


What else she’s saying: “We have way too much virus across the country for that right now, so it’s very discouraging,” Schuchat said in her interview with the Journal’s Howard Bauchner. She said there was “a lot of wishful thinking around the country” that the pandemic would be over by the summer. “We are not even beginning to be over this,” Schuchat said. “There are a lot of worrisome factors about the last week or so.” “We’re not in the situation of New Zealand or Singapore or Korea, where a new case is rapidly identified and all the contacts are traced and people are isolated who are sick and people who are exposed are quarantined and they can keep things under control.”

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If this is a war, as many have labeled it, the US is losing it.

Fauci Warns Of 100,000 US Cases Per Day (BBC)

Top disease researcher Dr Anthony Fauci has told the US Senate that he “would not be surprised” if new virus cases in the country reach 100,000 per day. “Clearly we are not in control right now,” he testified, warning that not enough Americans are wearing masks or social distancing. During the hearing, he said about half of all new cases come from four states. Earlier, the New York governor said nearly half of all Americans must self-quarantine if they visit the state. On Tuesday, cases rose by more than 40,000 in one day for the fourth time in the past five days. The surge – which is occurring particularly strongly in southern and western states – has forced at least 16 states to pause or reverse their reopening plans, according to CNN.

Florida, Arizona, Texas and California are the four states referenced by Dr Fauci as being most heavily hit currently. For some the new measures come over a month after they first began to reopen their economies. [..] Testifying to a Senate committee on the effort to reopen schools and businesses, the director of the National Institute of Allergy and Infectious Diseases criticised states for “skipping over” benchmarks required for reopening, and said cases will rise as a result. “I can’t make an accurate prediction, but it is going to be very disturbing, I will guarantee you that,” he told Senator Elizabeth Warren. “Because when you have an outbreak in one part of the country even though in other parts of the country they’re doing well, they are vulnerable.”

“We can’t just focus on those areas that are having the surge. It puts the entire country at risk,” he added. Dr Fauci also called on the US government to produce face masks to be distributed for free to all Americans, and condemned the “all or none phenomenon” of some people who have completely disregarded social distancing measures.

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As someone said today: late-stage capitalism. Meanwhile, the UK wants to restart its HCQ testing program.

US Buys Almost Entire World’s Supply Of Coronavirus Drug (Ind.)

The US has effectively secured the world’s supply of one of only two drugs proven to help treat coronavirus. Remdesivir, which has previously been used to fight Ebola but has now been found to reduce recovery times among Covid-19 patients, is exclusively manufactured by pharmaceutical giant Gilead Sciences. The US Department of Health and Human Services (HSS) has announced it has bought up more than 500,000 doses of the drug. The figure equates to Gilead’s entire production for July, as well as 90 per cent of its production in both August and September. The US’s decision to stockpile the drug means there will likely be little supply in the rest of the world for several months.


HSS secretary Alex Azar, hailed the move, saying president Donald Trump had struck an “amazing deal”. “To the extent possible, we want to ensure that any American patient who needs remdesivir can get it,” Mr Azar added. “The Trump Administration is doing everything in our power to learn more about life-saving therapeutics for Covid-19 and secure access to these options for the American people.”

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It took about a month?!

People In Their 20s Largest Age Group Of New COVID-19 Cases In Minnesota (MPR)

More than 100 cases of COVID-19 have been reported among Minnesotans in their 20s in the Mankato area who said they went to bars on June 12 and 13 — the first weekend bars and restaurants were allowed to serve indoors. Two Mankato bars — Rounders and The 507 — were the focal points of that young adult outbreak, Ehresmann said Friday. Officials were also following up on a cluster of 30 cases at two Minneapolis bars — Cowboy Jack’s and Kollege Klub. Social media from those bars shows they were crowded, with no room for social distancing, and people who were standing and not masked, so not following the state guidance, Ehresmann said.


“It’s not that you can’t socialize. It’s not that you can’t have fun,” she said. “But you need to do in a manner that’s safe for you and the people around you.” Friday’s Health Department data showed that Minnesotans in their 20s now make up the largest age group of confirmed cases in Minnesota — 7,045 people infected, with two deaths. While those young people may be less likely to suffer complications from COVID-19, officials say the concern is that they may be unknowingly spreading the disease to grandparents or other potentially vulnerable populations.The median age of confirmed cases in Minnesota has been dipping and is now just under 40 years old.

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Stephanie Kelton is on an MMT mission. It’s not an easy one. It goes against everything we think we know about economics.

The Biggest Myths About The National Deficit (Alt.)

What drives the biggest misunderstandings about government debt in our national conversation? Stephanie Kelton: Everything is wrong. The way we talk about federal government debt is, from my perspective, we say things like we’re borrowing from China and foreigners. Hillary Clinton said when she was secretary of State that it’s a national security threat. People talk about it representing a liability to all of us, so we hear people talk about “your share [of the national debt],” a burden on future generations, that it ultimately has to be paid back, that it’s going to require higher taxes in the future. I could keep going.

So what connects all these misunderstandings? Are we thinking of the government too much like a household or a business? Yes, of course. We think that the government has borrowed, and we think that this is real debt. And neither of those things is correct. I say in the book that if I walk into a bank and borrow money, I’m borrowing money because I don’t have it. Right? That’s why I got to the bank to take out a loan. The federal government is not borrowing money because it needs money. It’s not borrowing because it doesn’t have the capacity to finance whatever it wants to spend money on. It has the fiscal capacity; it can just spend. And not only that, the government sells the bonds.

And by the time the government sells the bonds, the spending has already taken place. So the bonds cannot possibly be the tool with which the government raises money in order to spend. It’s selling the bonds after the spending had already taken place. Why does it do that? It doesn’t need to borrow, it has already financed the spending. So we don’t really understand — the public and most economists get this wrong — we don’t even understand what the purpose of selling bonds is. We treat it as a borrowing operation. It’s not. The purpose of selling the bonds is to drain off the reserves, the dollars, to remove some of the dollars the government has spent into the economy and replace them with treasuries. It’s a subsidy to the rich, is what it is.

Read more …

 

 

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Henry David Thoreau:

 

 

 

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Jun 302020
 
 June 30, 2020  Posted by at 10:37 am Finance Tagged with: , , , , , , , , , ,  36 Responses »


Pablo Picasso The dream 1951

 

China’s Military Becomes First To Use Experimental Coronavirus Vaccine (SCMP)
California, Texas See Record COVID-19 surges, Arizona Clamps Down (R.)
Norwegian Air Cancels 97 Boeing MAX And Dreamliners, Claims Compensation (R.)
Europe’s Recovery Fund: An Instrument of Class War (Varoufakis)
We Digitized the Mob, and There’s No Place to Hide (Miele)

 

 

As we approach the end of the first half of 2020, I’m seriously rethinking how to cover COVID19 going forward. The past five months have been intense in that regard, and at a certain point you need to wonder how useful such time-consuming work still is. For a long time I had the hope and belief that “we” would be able to halt the spread of the coronavirus, if only because that was -and is- the only sensible way to deal with a new pathogen about which very little is known, other than that it is potentially deadly.

But despite a huge number of actions, including lockdowns in many countries and societies, the infection numbers only keep rising. And at this point is is entirely unclear how countries like the US and Brazil will ever be able to get rid of the virus.

The consequences will be grave, albeit different in different places. We will see overwhelmed healthcare systems in some countries and states, while others will remain relatively unscathed, at least for a while. Ironically, in a world used to so much travelling it’s even useful to wonder what good it does to do a lockdown well. How long can New Zealand keep its borders closed?

As for healthcare, there was a report that it will take four years for the UK’s NHS to recover from COVID19, and that based on what they have experienced so far, while there is still plenty room for second or third waves, and/or any unforeseeable extra pressure.

Tourism as we’ve known it will never recover, at least not on a timescale that is meaningful to us. That whole industry needs a great reset. That is of course also true for airlines, plane manufacturers et al. As it is for the entire hospitality industry. People will be cautious when going out, the fear of infection rules supreme, as demonstrated again by this report from NBER, Fear, Lockdown, and Diversion, which shows it wasn’t the lockdowns that did the most damage.

This paper examines the drivers of the collapse using cellular phone records data on customer visits to more than 2.25 million individual businesses across 110 different industries. Comparing consumer behavior within the same commuting zones but across boundaries with different policy regimes suggests that legal shutdown orders account for only a modest share of the decline of economic activity (and that having county-level policy data is significantly more accurate than state-level data).


While overall consumer traffic fell by 60 percentage points, legal restrictions explain only 7 of that. Individual choices were far more important and seem tied to fears of infection. Traffic started dropping before the legal orders were in place; was highly tied to the number of COVID deaths in the county; and showed a clear shift by consumers away from larger/busier stores toward smaller/less busy ones in the same industry.

But I have to admit, over the past few days, when I was silent, I’ve become ever more worried by the American political and societal situation than by coronavirus. The images of people with guns standing outside of their homes, the stories of police and mob violence, shootings in “police-free” zones, it all starts to smell like a civil war.

While I wasn’t writing, I was reading all the more from both sides of aisle, and whatever they may still have had in common appears to disappear rapidly. The hunt for Trump continues unabated with yet another anonymous and unsourced tale about RussiaRussia, while the right is organizing to counter what they see as lawlessness across the nation.

Frank Miele, in a article below, quotes Bobby Kennedy, speaking after MLK was shot:

“The victims of the violence are black and white, rich and poor, young and old, famous and unknown. They are, most important of all, human beings whom other human beings loved and needed. No one — no matter where he lives or what he does — can be certain who will suffer from some senseless act of bloodshed. And yet it goes on and on. Why? What has violence ever accomplished? What has it ever created? … No wrongs have ever been righted by riots and civil disorders. … [A]n uncontrolled, uncontrollable mob is only the voice of madness, not the voice of the people.”

That sounds like a voice of reason that is sorely needed by the country right now. But does anyone see any of those? Ideally, Trump and Biden would get together on live TV to ask their supporters to please calm down. But I don’t see that happening in the present climate either. It’s become too polarized, fed by media and their business models.

I’m just trying to make sense of it all. Trying to find a way out of the mess, a way forward. But right now I’m mostly just thinking that Independence Day could turn into an incredibly messy affair. Or any other day between now and the election.

 

 

 

 

US has fifth day in a row with over 40,000 new cases

 

 

 

 

 

 

 

 

 

 

Key line: “The candidate is yet to start phase three trials, which would confirm whether it could protect recipients from infection.”

China’s Military Becomes First To Use Experimental Coronavirus Vaccine (SCMP)

China has approved military use of an experimental coronavirus vaccine developed by the People’s Liberation Army and a Chinese pharmaceutical company, in a first for the armed forces of any country. The vaccine, identified as Ad5-nCoV, was jointly developed by a team at the Academy of Military Medical Sciences, led by Major General Chen Wei, and Tianjin-based company CanSino Biologics. It is the first time that a vaccine candidate for Covid-19, the disease caused by the coronavirus, has been authorised for use for the military of any nation. CanSino said on Monday that the candidate had been through two phases of clinical trials, which indicated it was safe and there was “relatively high” immune response to the antigen.

The candidate is yet to start phase three trials, which would confirm whether it could protect recipients from infection. The military has approved its use for a year but it has not been authorised for civilian purposes. Adding Ad5-nCoV to the People’s Liberation Army’s catalogue of special drugs means that it can be deployed in major outbreaks. It is based on an Ebola vaccine that was developed by Chen but did not go into mass production. Scientists are racing to find an answer to the coronavirus that has already infected more than 10 million people and killed over 500,000. New cases continue to surge in the United States and India, with the US confirming more than 40,000 new cases for the third straight day on Monday.

According to the World Health Organisation, clinical trials are under way for 17 vaccine candidates, seven of which have been developed in China. One candidate developed by Oxford University and AstraZeneca is in phase three studies. Phase one and two studies typically test if a candidate is safe and whether it can generate an immune response from the recipients, but vaccines must complete all three sets of trials to be licensed. CanSino said it completed phase two trials on June 11, but the company has not yet released data from the study. [..] Many Chinese candidates are planning phase three trials in other countries as the spread of the coronavirus in China is too limited to test the efficacy of the vaccine. CanSino reached an agreement with Canadian government to conduct phase three trials there but details of the studies have not been revealed.

Read more …

We’ll see anti-police protests and anti-lockdown protests all at the same time.

California, Texas See Record COVID-19 surges, Arizona Clamps Down (R.)

California and Texas both marked record spikes in new COVID-19 infections on Monday, a Reuters tally showed, as Los Angeles reported an “alarming” one-day surge in America’s second-largest city that put it over 100,000 cases. Los Angeles has become a new epicenter in the pandemic as coronavirus cases and hospitalizations surge there despite California Governor Gavin Newsom’s strict orders requiring bars to close and residents to wear masks in nearly all public spaces. “The alarming increases in cases, positivity rates and hospitalizations signals that we, as a community, need to take immediate action to slow the spread of COVID-19,” Barbara Ferrer, director of public health for Los Angeles County, said in a statement announcing the sharp rise.


“Otherwise, we are quickly moving toward overwhelming our healthcare system and seeing even more devastating illness and death,” Ferrer said. Los Angeles Mayor Eric Garcetti announced a “hard pause” on when movie theaters, theme parks and other entertainment venues can reopen. Los Angeles County is the biggest movie theater market in the United States. Los Angeles County said its beaches will be closed for the Independence Day weekend and fireworks displays will be banned.

 

Read more …

is there a better example of the future of tourism?

Norwegian Air Cancels 97 Boeing MAX And Dreamliners, Claims Compensation (R.)

Norwegian Air has cancelled orders for 97 Boeing aircraft and will claim compensation from the U.S. plane maker for the grounding of the 737 MAX and for 787 engine troubles that hit its bottom line, the Oslo-based carrier said on Monday. The airline cancelled 92 of the 737 MAX jets, five 787 Dreamliners and so-called GoldCare service agreements related to both aircraft, just as Boeing on Monday began a crucial set of flight tests of the 737 MAX in an effort to gain regulatory approval for it to return to the skies.


“Norwegian has in addition filed a legal claim seeking the return of pre-delivery payments related to the aircraft and compensation for the company’s losses related to the grounding of the 737 MAX and engine issues on the 787,” the airline said. Norwegian did not specify the amount it would seek to claim from Boeing, which it had been in talks with about compensation, and was not immediately available for comment. Boeing said it was working with Norwegian on a path forward in a challenging time as it was with other operators but it would not comment on commercial discussions.

Read more …

Nothing has changed in Europe.

Europe’s Recovery Fund: An Instrument of Class War (Varoufakis)

Europe was never the battlefield on which the frugal North clashed with the profligate South. Instead, every European country has been the battlefield where a vicious class war is fought by a transnational oligarchy-without-frontiers training its armour against the weaker residents of every country, every region, every community. COVID-19, and the European Union’s response to it, only magnifies the human costs of this unremitting class war. All talk of a North-South clash is founded on a gigantic lie, that is based on many small truths, conveniently hiding from Europeans’ gaze the class war that diminishes their life prospects.

The crisis of financialisation in 2008 intensified Europe’s class war massively, holding a majority of Northern and Southern Europeans behind and leaving Europe, including its capitalist class, much weakened in relation to the rest of the world — the United States and China in particular. Twelve years on, COVID-19 gives this crisis a new, violent spin. The weak are weakened much, much more while Europe as a whole falls further and further behind the United States and China. While the EU’s leadership and bureaucracy have been quite active in the past three months, producing one impressive-sounding policy announcement after the next, the sum of their actions boost the class war that enfeebled Europe over the past decade and weakened a majority of Europeans everywhere.

[..] Rumours that Covid-19 caused the EU to lift its game are grossly exaggerated. Good people who took heart from the news that, however reluctantly, the EU has embraced common debt in a bid to further the cause of pan-european solidarity, will soon be deeply disappointed. Behind the heroic pronouncements and the triumphant propaganda lurks a sordid truth: The class war against Europe’s weaker people is escalating. And so is Europe’s descent into global irrelevance.

It all began with the quiet death of the Eurobond. Eurobonds, as advocated by DiEM25, would perform a simple task: They would automatically convert any new Italian, Spanish or Greek public debt (due to the impact of the pandemic on public revenues and expenses) into European debt (in the same way that US Treasury Bills absorb the costs of a recession in Missouri and Wisconsin). But, once the Eurobond was killed off by the Eurogroup in early April, it is now a given that the gigantic increase in national budget deficits will be followed by equally sizeable austerity in every country — a euphemism for the intensification of the class war that depletes the already atrophied incomes of the majority in each of our countries.

Read more …

Excellent piece, what ever side you’re on.

We Digitized the Mob, and There’s No Place to Hide (Miele)

The most shocking aspect of the wave of rioting and destruction that has been unleashed on many of our American cities in the wake of George Floyd’s death is not that there is an underlying discontent with the rate of progress in racial equality. That is understandable. What is not is the way that mayors, governors and members of Congress have not just tolerated, but endorsed, mob violence as an acceptable weapon of social change. Growing up in the turbulent 1960s, I was given a very specific warning by my mother: If you ever get caught up in a mob, get out of it as soon as possible because a mob has no brain. It just has emotion — and whether that emotion is anger, hatred or even joyful exuberance, it cannot be controlled.

We saw that in Minneapolis following the death of George Floyd while in police custody. People with a brain were outraged by what they saw. They wanted to protest, to speak out, and to demand justice. But when they came together in the streets, they discovered how quickly protest can transform into riot, and how demands for justice can be used to justify injustice. The basic premise of justice, after all, is recompense, making sure that wrongdoers pay a price for their crime. Yet there was no recompense in burning the businesses of innocent bystanders. There was no justice in stealing TVs and PlayStations. This was just brainless mob violence. It was shameful and it should have been easily condemned by the politicians, news media and celebrities who were not part of the mob.

That’s what would have happened in the 1960s. When Martin Luther King Jr. was murdered, leading to riots across America in 1968, Bobby Kennedy appealed for peace amidst “this mindless menace of violence in America which again stains our land and every one of our lives.” The parallel is exact. A black man is unjustly murdered. The nation is outraged. Riots ensue. The only part that is missing today is a respected grown-up like Kennedy who would condemn the violence and recognize that “[i]t is not the concern of any one race.” As Kennedy said,

“The victims of the violence are black and white, rich and poor, young and old, famous and unknown. They are, most important of all, human beings whom other human beings loved and needed. No one — no matter where he lives or what he does — can be certain who will suffer from some senseless act of bloodshed. And yet it goes on and on. Why? What has violence ever accomplished? What has it ever created? … No wrongs have ever been righted by riots and civil disorders. … [A]n uncontrolled, uncontrollable mob is only the voice of madness, not the voice of the people.”

What a refreshing expression of common sense, and what a contrast it offers to the bleating appeasers from the Democratic Party today who have bent a knee in obeisance to the mob, to the rioters, to the monument defacers, to the statue topplers. But it’s not just the Democrats who have bowed to the “voice of madness.” Most Republicans are right there with them. So too are corporate entities such as Intel and Amazon, and sporting organizations such as the NFL and NASCAR. For their part, news outlets such as CNN and MSNBC are promoting the riots and the cleansing of American history that is being pushed by Black Lives Matter. The question is why?

It is easy to understand why someone surrounded by the mob surrenders to its power, but those corporate boardrooms are far from the fray and well-protected from the torches and Molotov cocktails. So why have they turned their backs on law and order and embraced the mob? What has changed since the 1960s that makes it so much harder for leaders in government, business and culture to condemn violence and lawlessness? The answer will not surprise you, but it should scare you. Somewhere along the way, we digitized the mob. The few dozen people surrounding a statue are not the problem. The few hundred people confronting police are not the problem. The few thousand people looting stores and throwing rocks are not the problem. The mob on the street is not the problem. The mob on the street is the symptom.

The millions of people acting without moral restraint, without reason and without fear of consequences on the Internet are the problem. Indeed, the digital mob is the unintended consequence of the Internet itself. Connecting the world via technology was supposed to encourage communication, understanding and a breaking down of barriers. Instead it has resulted in a world divided into silos, special interests, identity groups. We tend to seek out those we have the most in common with and to block, ban or troll those who are unlike us. We feel safety in numbers, and from that safety is often bred outright contempt for those who think differently.

Read more …

 

 

We try to run the Automatic Earth on donations. Since their revenue has collapsed, ads no longer pay for all you read, and your support is now an integral part of the interaction.

Thank you.

 

 

I’ll close today with a series of clips of an interview yesterday with Michael Fynn’s attorney Sidney Powell, who’s going to be an important voice in the run-up to November 3, whether you agree with her or not. Stay safe.

 

 

 

 

 

 

Support the Automatic Earth in virustime.

 

Jun 272020
 


BIS/OWI Battle of Britain. Children in an English bomb shelter 1940/41

 

Texas Hospital CEO: Covid Inpatient Count ‘Misinterpreted’ (JTN)
The Many Health Problems Caused By COVID19 (R.)
Museum of Human Rights CEO Resigns After Allegations Of Systemic Racism (CP)
Amsterdam Ejects Airbnb et al From Three Central Districts (TC)
UK to Scrap Quarantine For Travel to Greece (GR)
The Central Bank “Bailout of Everything” Will Be a Disaster (Lacalle)
Bait and Switch (Jim Kunstler)
Comey Miniseries Gets Pre-Election Airdate (JTN)

 

 

Sorry I’m late, but I walked away from my machine earlier today and went out for an early beer outside in the still wonderfully still city of Athens, because it is all too depressing to see things getting so much worse fast, not better.

I’m starting to feel like one of those reporters, if not lawyers, who listen to police scanners and chase ambulances for a living. There must have been disaster movies made that depict this kind of pandemic, but I can’t imagine any of them portraying the levels of ignorance and incompetence we’re witnessing in real life here.

 

 

Worldometer reports new cases for June 26 (midnight to midnight GMT+0) at + 194.190.

 

 

 

 

 

 

New cases past 24 hours in:

• US + 46,409
• Brazil + 46,860
• India + 18,002

 

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

 

 

I’ve had enough of this “it’s not so bad” stuff. Half a million dead people means you be careful with claims like that.

This particular piece wants to tell you that hospitalized people may have some other ailment too, but then if you read on you see that not even everyone who enters a hospital is tested(!) for COVID19.

Which makes it a non-story right there.

Texas Hospital CEO: COVID Inpatient Count ‘Misinterpreted’ (JTN)

Health officials in Texas are logging every single COVID-19-positive hospital patient in the state as a COVID-19 hospitalization, even if the patients themselves are admitted seeking treatment for something other than the coronavirus. That policy may be serving to artificially inflate what ostensibly seems like a significant COVID-19 surge in the state. Texas has lately been the focal point of national anxiety over concerns that a “second wave” of the coronavirus has begun there after the state began reopening nearly two months ago. COVID-19 hospitalizations there have been on a steady upward track for about the last two weeks, per the state’s coronavirus dashboard, which on Thursday recorded about 4,400 coronavirus hospitalizations in the state.


But at least part of that trend may be due to liberal coding policies by state officials. Lindsey Rosales, a spokeswoman for the Texas Department of State Health Services, confirmed to Just the News this week that the state is categorizing every inpatient in the state with a positive COVID-19 test as a COVID-19 hospitalization. “The number of hospitalized patients includes patients with a lab-confirmed case of COVID-19 even if the person is admitted to the hospital for a different reason,” Rosales said. Asked if inpatients in the state are tested for COVID-19 whenever they arrive for treatment, Rosales said, “Hospitals set their own protocols for determining when and if to test patients for COVID-19.”

Read more …

“Scientists just beginning to understand…”

I haven’t said it in a while, but it’s still true: we don’t know anything yet.

A lot of infected people who don’t die from COVID19 are not going to recover, and will be incapacitated for years. Who’s going to pay?

The Many Health Problems Caused By COVID19 (R.)

Scientists are only starting to grasp the vast array of health problems caused by the novel coronavirus, some of which may have lingering effects on patients and health systems for years to come, according to doctors and infectious disease experts. Besides the respiratory issues that leave patients gasping for breath, the virus that causes COVID-19 attacks many organ systems, in some cases causing catastrophic damage. “We thought this was only a respiratory virus. Turns out, it goes after the pancreas. It goes after the heart. It goes after the liver, the brain, the kidney and other organs. We didn’t appreciate that in the beginning,” said Dr. Eric Topol, a cardiologist and director of the Scripps Research Translational Institute in La Jolla, California.

In addition to respiratory distress, patients with COVID-19 can experience blood clotting disorders that can lead to strokes, and extreme inflammation that attacks multiple organ systems. The virus can also cause neurological complications that range from headache, dizziness and loss of taste or smell to seizures and confusion. And recovery can be slow, incomplete and costly, with a huge impact on quality of life. The broad and diverse manifestations of COVID-19 are somewhat unique, said Dr. Sadiya Khan, a cardiologist at Northwestern Medicine in Chicago. With influenza, people with underlying heart conditions are also at higher risk of complications, Khan said. What is surprising about this virus is the extent of the complications occurring outside the lungs. Khan believes there will be a huge healthcare expenditure and burden for individuals who have survived COVID-19.

Patients who were in the intensive care unit or on a ventilator for weeks will need to spend extensive time in rehab to regain mobility and strength. “It can take up to seven days for every one day that you’re hospitalized to recover that type of strength,” Khan said. “It’s harder the older you are, and you may never get back to the same level of function.” While much of the focus has been on the minority of patients who experience severe disease, doctors increasingly are looking to the needs of patients who were not sick enough to require hospitalization, but are still suffering months after first becoming infected.

Read more …

Picked this because of a new term for me: “othering”.

Is that a noun or also a verb?

Please advise me.

Do I “other” you when I say you’re beautiful?

Museum of Human Rights CEO Resigns After Allegations Of Systemic Racism (CP)

The president and CEO of the Canadian Museum for Human Rights has resigned following recent allegations of systemic racism, discrimination and claims of sexual harassment at the Winnipeg facility. The museum’s board of trustees says John Young has agreed that it is in the best interest of the museum that he step down, effective immediately. “We will act quickly to improve museum processes and our policies, and to rebuild relationships and trust with our staff and those we have let down, especially the Black and Indigenous communities, people of colour and LGBTQ2+ communities,” board chairwoman Pauline Rafferty said Thursday in a news release.“We apologize unreservedly for what has happened and we know that the fight against systemic racism, homophobia, inequality and all forms of othering must be ongoing, and must be a priority.”

Read more …

Fine by me, I’m no fan, but pretty ironic they do it at a time when there are no tourists around.

Amsterdam Ejects Airbnb et al From Three Central Districts (TC)

Another brick in the wall for vacation rental platforms: Amsterdam is booting Airbnb and other such platforms from three districts in the city’s old center from July 1, further tightening its rules for such services. In other districts in the famous city of canals, vacation rentals will only be permitted with a permit from next Wednesday, still for a maximum of 30 nights per year. The latest tightening of the city’s rules on Airbnb and similar platforms comes after a period of consultation with residents and organizations which city authorities say drew 780 responses — a full 75% of which supported banning the platforms from operating in the three central districts. “This [consultation] indicates that the subject is very much alive among Amsterdammers.


What is striking is that no less than 75% are in favor of a ban on holiday rentals in the three districts, said deputy mayor Laurens Ivens in a press release.. Furthermore, Ivens said the consultation exercise showed some support for a citywide ban on such platforms. However current pan-EU rules — notably the European Services Directive — limit how cities can respond to public sentiment against such services. Hence Amsterdam applying the ban to specific districts where it has been able to confirm tourism leads to major disruption.

Read more …

Countries that are not welcome in the EU: US, North Macedonia, Sweden, UK, Russia, Israel, Saudi Arabia and United Arab Emirates.

UK to Scrap Quarantine For Travel to Greece (GR)

The UK government confirmed on Saturday that will scrap the requirement for holidaymakers to self-isolate for 14 days upon returning to the UK for trips Greece, France and Spain. Britons are among the biggest national groups visiting Greece every year but flights from the UK, which has seen a high rate of Covid-19 infections, are currently barred from Greek airports until at least June 30. The requirement for a 14-day quarantine was a major disincentive for British tourists. Instead of the quarantine there will be a traffic light system, with officials placing countries into green, amber and red categories based on the prevalence of coronavirus.

The Telegraph reported that as many as 50 countries could be included in the quarantine-free list when it is published on Wednesday, with restrictions lifted as soon as July 6. The move comes as Greek minister of Tourism told Reuters that the country hopes to be able to set up an “air bridge” with Britain that would allow British tourists to visit from mid-July. “I think that the most realistic prospect is around the middle of July to remove barriers from both sides,” minister Harry Theocharis told Reuters, adding that Greece was also waiting European Union guidelines on the issue. “We will keep looking at the (epidemiological) data and confirm this perhaps a few days before the middle of July,” he added.

Meanwhile, Greece’s hopes to welcome American visitors on July 1 are hanging by a thread as the European Union is considering barring tourists from the hard-hit United States at least until July 15. According to Greece’s state broadcaster ERT, the residents of a total of nine countries may be barred from visiting the nation until further notice due to epidemiological data as well as recent spikes in the number of coronavirus cases in these areas. While the information has yet to be officially confirmed by the European Union, the nine countries are reported to be: the United States, North Macedonia, Sweden, the United Kingdom, Russia, Israel, Saudi Arabia and the United Arab Emirates.

Read more …

Yes, but… Look, at some point it’s not enough just stating the obvious.

Difficult questions aplenty, but let’s see some answers.

The Central Bank “Bailout of Everything” Will Be a Disaster (Lacalle)

Despite massive government and central bank stimuli, the global economy is seeing a concerning rise in defaults and delinquencies. The main central banks’ balance sheets (those of the Federal Reserve, Bank of Japan, European Central Bank, Bank of England, and People’s Bank Of China) have soared to a combined $20 trillion, while the fiscal easing announcements in the major economies exceed 7 percent of the world’s GDP according to Fitch Ratings. This is the biggest combined stimulus plan in history. However, businesses are closing at a record pace and unemployment has reached extremely elevated levels in many countries.

There is an important risk in what I call the “bailout of everything,” or the conscious decision by governments and central banks to provide any needed support to all sectors and companies with access to debt. Most of these stimulus packages and liquidity measures are aimed at supporting current government spending and providing liquidity to companies with assets, with access to debt, and in traditional sectors. It is not a surprise, then, that at the same time as we see the largest fiscal and monetary support plan since World War II, we are already witnessing two dangerous collateral effects: the rise of zombie companies and the collapse of small businesses and startups.

According to the Institute of International Finance (IIF), the figure of global corporate bond defaults has risen to $50 billion in the second quarter of 2020 despite historic low interest rates and high liquidity. Additionally, according to Deutsche Bank and the Bank of International Settlements, the number of zombie companies in the eurozone and the US, large companies that cannot cover their interest expenses with operating profits, has rocketed to new all-time highs. In 2019 Professors Petroulakis (ECB) and Andrews (OECD) stated, “Europe’s productivity problem is partly due to the rise of zombie firms that crowd out growth opportunities for others”. This problem is only increasing in the current crisis.

Read more …

Kamala Harris is roadkill. All the rest are non-entities.

Bait and Switch (Jim Kunstler)

Suspicious minds may be prompted to wonder whether years of fake news from Wokesterdom’s media allies have finally produced the ultimate hoax: a completely fake candidate for president. Mr. Biden has gone-to-ground for three months since sweeping the Super Tuesday primaries by some strange coup of polling station magic. No campaign glad-handing, baby-kissing, and maiden-sniffing among those virus-saturated crowds for Uncle Joe this time around! And Gawd forbid any press conferences or spontaneous remarks — poor Mr. Biden tends to flub even his scripted statements. It’s a bit hard to imagine how his acceptance speech will go… and… Lordy… the debates! In the immortal words of rap impresario Jay-Z, “Nigga, Please!” (available on Amazon Music, by the way— thank you, Jeff Bezos, humanitarian).


This Joe Biden thang is being set up as some kind of bait-and-switch, but the scheme is a little too obvious, dontcha think? Mr. Biden has obliged himself to choose a “woman-of-color” as his running mate, of course, and so it is assumed that about twenty minutes after the swearing-in on January 20, 2021, Stacey Abrams (or Val Demings, or Kamala Harris, or Tawana Brawley) will become de facto president, and we’ll be off to the races, so to speak. It’s a cute gambit, but I don’t see it playing out. You may be unaware of this but the Democratic Party is actually owned, lock-stock-and-barrel, by the Clinton Foundation. It has something else in mind. Due to the unfortunate last minute discovery of Joe Biden’s incapacity to serve, She Whose Turn Was Thwarted in 2016 will perforce be the party’s nominee for an epic rematch with the Golden Golem of Greatness. Let’s face it: everybody wants to see that contest. And an election with mail-in ballots will cinch her victory.

Read more …

Comey gets to watch it in jail.

Believe me on this one: you have no idea how ugly this election will be. None.

Comey Miniseries Gets Pre-Election Airdate (JTN)

A Showtime miniseries based on former FBI Director James Comey’s memoir has been rescheduled to debut before Election Day, after its creator made an emotional plea for a chance to sway presidential voters. Billy Ray, who wrote and directed “The Comey Rule,” recoiled after learning Showtime originally planned to debut it in late November. Ray wrote an angry letter to his cast and crew about the post-election date obtained by Deadline.com. The note suggests a collective agenda behind the project:

“I know what a disappointment this is to you. It is for me too — because while I’ve made movies about my country before, this was the first time I ever made a movie for my country. We all were hoping to get this story in front of the American people months before the coming election. And that was a reasonable expectation considering that we’d been given a mandate by the network to do whatever was necessary to deliver by May 15. But at some point in March or April, that mandate changed. Word started drifting back to me that a decision about our airdate had been made at the very highest levels of Viacom: all talk of our airing before the election was suddenly a “non-starter.” I and my fellow producers asked for a chance to plead our case on the matter, but we were told that even the discussion itself was a “non-starter.”

Further down in the letter, Ray envisioned billboards screaming, “Comey Vs. Trump” in the heat of the election battle. “The Comey Rule” is based on former FBI director James Comey’s recent memoir, “A Higher Loyalty” and “more than a year of additional interviews with a number of key principals,” according to Showtime PR.

Read more …

 

 

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Jun 262020
 
 June 26, 2020  Posted by at 11:33 am Finance Tagged with: , , , , , , , , ,  47 Responses »


Dorothea Lange Depression refugee family from Tulsa, Oklahoma 1936

 

US Coronavirus Cases ‘May Have Topped 20 Million’ (BBC)
Pompeo Says US, EU Working To Resume Trans-Atlantic Travel (R.)
House Defense Bill Targets Troop Drawdowns In Africa, South Korea (Hill)
No More Crossing Borders For Work (Salmon)
The Fed Said It Could Supply $2.3 Trillion. It Hasn’t Come Close So Far (CNBC)
Parents To Sue Trump, Meme Creator Carpe Donktum Over Manipulated Video Of Toddlers
Why Joe Biden Can Do No Wrong (Turley)
Bayer Wants To Resolve Future Roundup Liability In A Class Action (R.)
New Assange Indictment Only Adds ‘Window Dressing’ to ‘Continue Smear Campaign’ (Sp.)
Doctors for Assange: UK Officials May be Legally Culpable for His Torture (CN)

 

 

Say what you will, but that virus is not sitting still, got to give it that. And as for us, we’re either not sitting still enough, or we’re making the wrong moves.

And I still can’t decide what I find scarier, that or the fast deteriorating political and media climate stateside.

Worldometer reports new cases for June 25 (midnight to midnight GMT+0) at + 179,718.

 

 

 

 

 

 

New cases past 24 hours in:

• US + 41,317
• Brazil + 40,673
• India + 17,720

 

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

 

 

This is where you say all bets are off, I guess.

US Coronavirus Cases ‘May Have Topped 20 Million’ (BBC)

At least 20 million people in the US may already have been infected with Covid-19, according to the latest estimate by health officials. The Centers for Disease Control (CDC) says the true number of cases is likely to be 10 times higher than the reported figure. It comes as the state of Texas halted its reopening as infections and hospitalisations surged. The US has recorded 2.4m confirmed infections and 122,370 deaths. Some southern and western states have been reporting record numbers of cases in recent days. The University of Washington predicts 180,000 US deaths by October – or 146,000 if 95% of Americans wear masks.

“Our best estimate right now is that for every case that was reported, there actually were 10 other infections,” CDC Director Dr Robert Redfield told reporters. This was because testing was restricted to people with symptoms and asymptomatic carriers were not tested, he said. “We probably recognized about 10% of the outbreak by the methods that we use to diagnosis between the March, April and May,” he said. Dr Redfield said that between 5% and 8% of the population had been exposed to the virus and urged Americans to keep social distancing, wearing masks and washing hands. “As we go into the fall, in the winter, these are going to be really, really important defence mechanisms,” he said.

[Texas], which has been at the forefront of moves to end lockdown measures, has seen thousands of new cases, prompting Republican Governor Greg Abbott to call a temporary halt to its reopening. “This temporary pause will help our state corral the spread until we can safely enter the next phase of opening our state for business,” he said. Texas confirmed a record 5,996 new cases on Thursday. There were also 47 new deaths, the highest daily toll for a month. The state has also seen record number of people requiring hospital treatment for 13 days in a row. Elective surgery has been suspended in the Houston, Dallas, Austin and San Antonio areas to free up beds. More than 10% of the tests carried out over the past week have come back positive. All but 12 of the state’s 254 counties have reported cases.

Read more …

Yeah, Europeans can’t wait to invite a bunch of infected Usaians to their homes.

Pompeo Says US, EU Working To Resume Trans-Atlantic Travel (R.)

US Secretary of State Mike Pompeo played down concerns Thursday that the European Union might refuse to allow Americans into the 27-nation bloc as it considers lifting restrictions on overseas travelers starting next week, due to the spread of the coronavirus in the United States. “It’s a challenge for all of us to decide how and when to open up our economies and our societies. Everybody’s trying to figure that out,” Pompeo said during a videoconference organized by the German Marshall Fund think tank. “We’re working with our European counterparts to get that right.” European nations appear on track to reopen their borders between each other by July 1. Their envoys to Brussels are debating what virus-related criteria should apply when lifting entry restrictions on travelers from outside the EU that were imposed in March.

As the criteria are narrowed down, a list of countries whose citizens might be allowed in is being drawn up. The list would be updated every 14 days based on how the coronavirus is spreading around the world. The EU’s executive commission recommends that “travel restrictions should not be lifted as regards third countries where the situation is worse” than the average in the 27 EU member countries plus Iceland, Liechtenstein, Norway and Switzerland. That is likely to rule out people living in the United States, where new coronavirus infections have surged to the highest level in two months, according to figures compiled by Johns Hopkins University.

Beyond epidemiological concerns, any country being considered would first be expected to lift its own travel restrictions on visitors from all 31 European nations. This would also rule out the US. In a March 11 decree, President Donald Trump suspended the entry of all people from Europe’s ID check-free travel area. More than 10 million Europeans usually visit the United States each year.

Read more …

The war party has two wings.

House Defense Bill Targets Troop Drawdowns In Africa, South Korea (Hill)

The House Armed Services Committee’s version of the annual defense policy bill seeks to put roadblocks on withdrawing U.S. troops from Africa and South Korea. The so-called chairman’s mark of the National Defense Authorization Act (NDAA) – the version of the bill drafted by Chairman Adam Smith (D-Wash.) – would require the Pentagon to report to Congress on the effects, implications and costs of a troop drawdown in Africa on military, diplomatic, development and humanitarian efforts. It would also require a report on the effects of a drawdown within 90 days if the number of troops dips below 80 percent of current force posture.

Reports first surfaced earlier this year that Defense Secretary Mark Esper was eying slashing the number of U.S. troops in Africa as part of a global review of U.S. force posture to redirect troops to counter Russia and China. He later confirmed he was considering a reduction but insisted it would not be a full withdrawal. The plan received bipartisan backlash from lawmakers who argued the troops are needed not only to fight terrorism, but also to serve as a buttress against Russian and Chinese efforts to increase their influence in Africa.

More recently, President Trump announced he plans to withdraw thousands of U.S. troops from Germany. Trump has framed the drawdown as a punitive measure in response to Germany not meeting NATO’s defense spending goal, while national security advisor Robert O’Brien argued in a Wall Street Journal op-ed the forces are needed in the Indo-Pacific region.

Read more …

Picked this from Felix Salmon for this crazy stat:

“..pre-coronavirus Apple was buying 50 business class seats per day just from San Francisco to Shanghai…”

No More Crossing Borders For Work (Salmon)

Another area where there’s no sign of any recovery is in the movement of workers across borders, especially when it comes to movement in and out of the U.S. Why it matters: Multinational U.S. corporations are built on international travel. Apple spends $150 million a year on air travel, for instance, and pre-coronavirus was buying 50 business class seats per day just from San Francisco to Shanghai. That level of investment in cross-border ties helped to create a company that’s now worth $1.6 trillion. Driving the news: U.S. borders remain shut to travelers from China and Europe. There are only eight flights per week between the U.S. and China; the United Airlines SFO-SHA route where Apple used to spend $35 million a year currently has no flights at all. The EU is almost certain to ban U.S. travelers when it reopens on July 1. And Donald Trump has banned thousands of nonimmigrant workers from entering the country this year.

Read more …

Because it only supports member banks.

The program is too complicated on purpose: the banks all have legal departments that have no trouble deciphering it.

The Fed Said It Could Supply $2.3 Trillion. It Hasn’t Come Close So Far (CNBC)

When the coronavirus pandemic locked up capital markets and pulled the economy into recession, the Federal Reserve took aim with a $2.3 trillion bazooka to try to help. Thus far, though, the central bank has only fired off surprisingly few rounds. In the three months since a slew of programs were announced, the Fed has loaned out just $143 billion, or a mere 6.2% of its total firepower. The most ambitious initiative, the Main Street Lending Program, has yet to make a loan, according to the most recent Fed balance sheet data, though officials expect that to change in a matter of days.

As for the rest of the measures, from municipal lending to corporate credit to the Fed’s role in the Paycheck Protection Program, there are several likely explanations for why what was supposed to be an infusion of cash into the economy instead has been a comparative trickle. One is simply that the programs, particularly in the case of Main Street, are complicated and have proven difficult to launch as the Fed gathers feedback and works through logistics. Another is that there is simply less demand from entities that are finding other ways to make do. And on that same point, the notion that the U.S. economy is recovering more quickly than expected from a recession that began in February has negated the need for the arsenal that the Fed launched starting in March.

“The economy is getting better, so you’re not seeing as many firms short of cash as you’d seen in March and April,” said Yiming Ma, an assistant finance professor at Columbia University Business School. “Some of the terms are just not very attractive to firms who potentially do need the funds.”

Read more …

Newsflash: we don’t all have the same kind of humor. But this goes very far.

Parents To Sue Trump, Meme Creator Carpe Donktum Over Manipulated Video Of Toddlers

The parents of two toddlers featured in a manipulated video posted on social media by President Donald Trump plan to file a lawsuit against the president, his campaign and the creator of the video, pro-Trump meme creator Carpe Donktum, escalating the fallout from the doctored video, which was taken down by Facebook and Twitter. Lawyers representing the parents of the children featured in the video are drafting a lawsuit alleging the video was altered and shared as an “advertisement and political propaganda” without permission or parental consent. Logan Cook, who goes by the username Carpe Donktum, altered footage of the two children in which one, who is Black, is running away from the other, who is white, and added a fake CNN chyron reading “Terrified toddler runs away from racist baby.”

The original clip, which went viral last year, actually shows the two toddlers running up to each other and hugging. (The edited video appears to be a satirical attempt criticize how the media takes statements out of context and reports on race.) Both Facebook and Twitter took the video down after the parents of the children filed a copyright complaint, and before that Twitter labeled the video “manipulated media.” Twitter late Tuesday permanently banned Cook for repeated copyright violations.

“The fact that Twitter and Facebook disabled this fake video within 24 hours of President Trump and his campaign tweeting it, coupled with Twitter permanently banning Cook, is very strong evidence that a jury will likely find that all of these people broke the law by using this video as advertisement and political propaganda,” said Ven Johnson, one of the attorneys representing the parents. Cook’s work is frequently shared by Trump, and the president reportedly called him a “genius” when he visited the White House last year. Twitter previously suspended Cook for eight days after he posted an edited video showing Trump as a cowboy attacking CNN reporter Jim Acosta.

Facebook and Twitter usually leave controversial posts from world leaders online, though Twitter has taken to labeling tweets with misinformation or those that “glorify violence” in recent weeks. But there’s one rule even world leaders can’t break: copyright. In October last year, another video posted by Trump featuring a Nickelback song was taken down after a copyright notice was filed. And earlier that year Twitter took down another video that included music from the Batman movie The Dark Knight Rises without permission.

Read more …

It’s going to be an absolutely crazy election.

Why Joe Biden Can Do No Wrong (Turley)

In the 11th century, Pope Urban II formalized the use of indulgences, which could be purchased to forgive sins. A papal bull of the Crusade accompanied those who fought in the Holy Land and committed atrocities in the name of a higher order. The practice was defended as essentially drawing from the “treasury of merit” created by Jesus Christ, the saints and the faithful. Now the 2020 election has become the ultimate crusade, and President Trump’s critics seem to be enjoying indulgences in tossing aside moral and ethical considerations. The freedom that is Biden is nowhere more evident than in a recent column by The Nation’s Katha Pollitt, who wrote about the allegations of sexual assault made by former Biden staffer Tara Reade.

Pollitt dispensed with any struggle over feminist or moral qualms, declaring, “I would vote for Joe Biden if he boiled babies and ate them.” As Pollitt explained, “We do not have the luxury of sitting out the election to feel morally pure or send a message about sexual assault and #BelieveWomen.” Otherwise, Pollitt would have to deal with her column during the confirmation hearing for Supreme Court nominee Brett Kavanaugh, in which she denounced “some of his defenders [who] seem to be saying that even if the allegations are true, it shouldn’t really matter.” For years, critics have expressed disgust at Trump’s statement that “I could stand in the middle of Fifth Avenue and shoot somebody and wouldn’t lose any voters.”

Yet they now afford Biden the same immunity even if he turns into the ancient god Cronus and starts snacking on boiled babies. The same indulgence has been claimed by politicians and commentators in dealing with other Biden allegations of sexual assault. Many of them demanded during the Kavanaugh controversy that all women must simply be believed when alleging sexual harassment. Those who questioned the allegations of Christine Blasey Ford were denounced for insensitivity, if not complicity, in the abuse of women. Today, some of us have said that Biden has the stronger case thus far, but we still support an investigation.

Yet many Kavanaugh critics quickly declared Biden to be innocent and opposed any search of his records — including those under lock and key at the University of Delaware — for any allegations of sexual abuse. House Speaker Nancy Pelosi (D-Calif.) simply cut off questions by testily declaring, “I don’t need a lecture” when confronted with her prior statements. Michigan Gov. Gretchen Whitmer (D) declared she sees no need for an investigation because she knows Biden and believes him, adding that she resented being asked about it as a victim of sexual assault. She cut off questions from CNN’s Jake Tapper by saying, “And you know what? That’s all I’m going to say about it.”

Read more …

They sponsor a legal panel that absolves them from most future claims. How sick is that?

Bayer Wants To Resolve Future Roundup Liability In A Class Action (R.)

The headlines Wednesday in the mass tort litigation over Bayer’s Roundup weedkiller were all about the company’s decision to pay as much as $9.6 billion – a lot of money! – to settle about 94,000 suits alleging that Roundup is associated with non-Hodgkins lymphoma. But the bigger news, at least for this case’s impact on mass tort litigation, may be in a novel proposal to address all future claims against Bayer. If the mechanism – a class action to determine threshold issues of causation while preserving plaintiffs’ individual rights to sue – ends up winning court approval, it’s going to change the way defendants buy global peace in these sprawling cases.

The Roundup future claims settlement is via a newly-filed prospective class action on behalf of everyone who was exposed to Roundup but has not hired a lawyer to bring a tort claim. (There are subclasses for people who already have cancer and those who don’t.) In a simultaneously-filed motion for preliminary approval of the settlement of the new class action, Bayer and plaintiffs lawyers from Lieff Cabraser Heimann & Bernstein, Audet & Partners and The Dugan Law Firm agreed to establish a panel of five scientific experts to decide the threshold questions of whether Roundup can cause cancer and, if so, at what levels of exposure. (For the true class action nerds: The settlement calls for the certification of an issues class to resolve the predominant common question of causation.)

The panel, which Reuters described Wednesday as “a calculated gamble” for Bayer, has at least four years to reach a determination, which is binding on all class members. After the panel’s decision, class members will be free to bring individual tort claims, with the caveat that those threshold causation and exposure questions have already been decided.

In the meantime, Bayer will put up $1.1 billion for diagnostic services for the class and for assistance to class members who develop cancer during the years before the scientific panel’s decision. The proposed settlement features an incredibly elaborate notice program to get the word out to prospective class members, taking into account that the class includes agricultural workers who may not speak English or have permanent residences. Class members have 150 days from the launch of the notice program to opt out of the class. As part of the settlement, future claimants will give up the right to seek punitive damages and medical monitoring fees in individual suits following the scientific panel’s causation decision.

Read more …

The shame of our generation.

New Assange Indictment Only Adds ‘Window Dressing’ to ‘Continue Smear Campaign’ (Sp.)

A US federal grand jury has unveiled a new superseding indictment against WikiLeaks co-founder Julian Assange. However, the filing brings no new charges. A journalist told Sputnik that what Assange does is no different from other reporters and the indictment is an attempt to sour Assange’s name in the media again. “It’s a continuation of the smear campaign against this man, to turn public opinion against him,” Joe Lauria, the editor in chief of Consortium News and author of the book “How I Lost, By Hillary Clinton,” told Radio Sputnik’s Loud and Clear Thursday. “It’s started to turn for him in certain instances recently, so the timing of this is interesting.” Lauria characterized the new accusations as “window dressing,” noting much of the document is simply a recapitulation of the previous charges against Assange.

According to the US Department of Justice’s Wednesday news release announcing the indictment, the new accusations “broaden the scope of the conspiracy surrounding alleged computer intrusions with which Assange was previously charged,” alleging he worked with hacker groups like Anonymous and LulzSec to gain access to classified files that WikiLeaks then published. “This is new: they write negatively about him helping [former NSA analyst-turned-whistleblower Edward] Snowden to get out of Hong Kong and that Assange had booked various other flights for Snowden to provide a diversion, so that he could get out on the one he did,” Lauria noted. “But there’s no charge of ‘aiding a fugitive to get away’ or anything like that, so that’s just thrown in there. We don’t know why.”

“The real essence is, as you say, the details to broaden this first indictment against him, which was for computer intrusion. And, essentially, it says that Assange directed hackers to get material. For example, one example is the recordings of high-level NATO officials, telephone calls that he wanted; also members of parliament of a NATO nation that is apparently Iceland.” Lauria said that to understand if this is a crime or not, he turns to investigative journalist Robert Parry, who founded Consortium News. Lauria noted a piece Parry wrote in 2010, anticipating Washington’s line of attack against Assange, in which he said that what Assange had done was no different than what he did as an investigative reporter, including encouraging sources to give information, and even to commit a small crime in order to prevent a larger one.

“This is key, because here we have in this expanded, superseding indictment, that Assange somehow committed a conspiracy with these hackers to get this information,” Lauria said. “Now, first of all, he’s not being accused of doing the hacking himself; he is accused of encouraging or directing – but not for money, by the way – these hackers to get documents and other materials that he wanted. So maybe two crimes are being committed there: one being the hack, and two, the unauthorized release of information. But Assange is not directly involved, so he’s doing what Bob Parry said he did as a reporter, and that was to get your source to commit a small crime [in order] to prevent a larger one. An example of that is Assange getting from [former US Army analyst Chelsea] Manning the ‘Collateral Murder’ video … the idea being to try to end the illegal war in Iraq,” Lauria told Sputnik.

Read more …

But doctors are not lawyers.

Doctors for Assange: UK Officials May be Legally Culpable for His Torture (CN)

Doctors have warned that UK officials could be held accountable for the torture of Julian Assange in an open letter published in The Lancet on International Day in Support of Victims of Torture. The 216 undersigned physicians and psychologists from 33 countries have accused UK and U.S. government officials of intensifying Julian Assange’s psychological torture in spite of the world’s leading authorities on human rights and international law calling for his immediate release from prison. Clinical Psychologist and Australian co-author of the publication, ‘The ongoing torture and medical neglect of Julian Assange’, Dr Lissa Johnson said the failure to properly treat Mr Assange may amount to an act of torture in which state officials, from parliament to court to prison, risk being judged complicit.

“Our letter is published just two days after the US Department of Justice announced a new superseding indictment against Assange representing yet another escalation in psychological torture tactics,” said Dr Johnson. “Introducing extra charges at this late stage, right before the defence evidence deadline and over a year after the indictment deadline, when documents given to the prison generally take two weeks to be passed on, when he has not been supplied with a computer and when he is unable to meet with lawyers under Coronavirus lockdown, serves to ramp up his helplessness jn the face of threat and is a key psychological torture tactic,” she said.

The doctors note that torture is prohibited under UK law, warning that UK officials could be judged “complicit”, including for their “silent acquiescence and consent”. They write that Assange at medical risk due to escalating abuses of his “fundamental human and legal rights at the hands of judicial, prison, and contracted security authorities”. The letter follows Julian Assange’s failure to attend four court hearings in a row on medical grounds. The authors charge UK and US authorities with “collective persecution and judicial harassment” in which “Mr Assange has been unable to engage in his own defence or even participate in his own hearings.”

A copy of the Lancet letter has been sent to the UK Lord Chancellor and Secretary of State for Justice, Robert Buckland. It coincides with two open letters to Buckland from 36 members of the European Parliament and 11 current and former politicians from 9 nations, calling for Julian Assange’s immediate release on bail in light of Covid-19, which places him “at grave medical risk” given his medical history, including persistent respiratory issues, the doctors warn. In a 60 Minutes Australia interview on Sunday night, Julian Assange’s fiancé, Stella Moris, stressed that Julian Assange is “very unwell”, expressing her fears that he may not survive.

Read more …

 

 

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https://twitter.com/wgbh/status/1276116181167017985

 

 

 

 

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Jun 252020
 
 June 25, 2020  Posted by at 6:36 pm Finance Tagged with: , ,  16 Responses »


Paul Gauguin Tahitian scene 1892

 

 

 

This is another piece I received today from Bruce Wilds, a US Midwest business owner I earlier featured an article from two months ago. There are plenty issues I have issues with here, but I’m not going to stand in the way of the US midwest being heard as it hurts the way it does. I mean, I’m in Athens Greece. The US Midwesterners are definitely not. I am most willing to cede the stage.

Update: I see Bruce has gotten this piece on ZeroHedge too. Which happened only because I published his piece 2 months ago. So be it. I’m still supportive. The US midwest will resemble a warzone. And, you know, it lends an extra dimension to “the importance of where and what”, which in Bruce’s original headline read “The Importance Of Where And What Consumers Buy”. Headlins, they ain’t kids’ play.

 

 

Bruce Wilds: How people spend their money has more impact on the economy than most people realize. What consumers buy matters a great deal. When looking at the policies flowing out of Washington it is clear many politicians seem to have no idea that all consumer spending and purchases are not created equal. Certain purchases result in money bouncing around a community sparking future economic growth which enriches everyone. Other purchases simply give the money wings allowing it to exit not only the community but often the country.

Many economists point to the consumer as being the lynch-pin to our economy.  Given that retail sales make up roughly 40% of personal consumption expenditures which in turn comprise roughly 70% of our GDP, their impact on the economy is important. These numbers, however, only tell a small part of the story. Sadly, because of economic laziness or ignorance, this is where the link between how and where money is spent gets lost in the noise. Ironically while President Trump decries our trade deficit he seems unable to put one and one together and understand it is shortsighted consumers driving the deficit.

A detailed breakdown of how people receiving a stimulus check would provide a great deal of information about the finances of individual Americans. It would also be very interesting to randomly delve deep into the finances of a few hundred Americans and learn the truth about where we stand. By deep, I mean looking at where they get their income, debt, total obligations, savings, retirement plans, net worth, the whole caboodle. This kind of deep economic discovery has never been done to my knowledge but instead, we tend to garner our information from superficial polls. 

An article by Lance Roberts that appeared on Real Investment Advice took a shot at explaining the bounce we just saw in retail sales at a time many consumers are tapped out. Robert wrote you should “never count the consumer out,” as they always find a way to go further into debt because psychologically, consumers are “trained” to “shop till they drop.” He claims that as long as individuals have a paycheck; they will spend it. Give them a tax refund; they will spend it. Issue them a credit card; they will max it out. Give them a government stimulus check; they will spend it as well. Don’t believe me, then why is consumer debt at record levels?

The fact is, consumers should take a long look at how their purchases will impact the economy over time. Robert makes the point that most consumers will spend if they have or can borrow the money. Taking this to the next level, few people realize what is registered as growth does not necessarily transfer into economic strength. This point is something that has been covered time and time again on this blog in articles such as, Healthcare Spending Wrongly Feeds Our GDP, and Economic Growth Does Not Equal Economic Strength.

The following examples highlight this matter. Just for fun imagine the money allowing for these purchases is flowing from the recent 2.3 trillion dollar CARES Act.

  • Consumer one decides to put a new roof put on his home. This includes tear off and re-shingling. This labor-intense job pays a lot of local workers from those delivering and hauling away the old roof to those selling the shingles, those installing them, and even some folks at the local landfill. As a bonus, the shingles are made here in America. Putting even more ceiling on the cake is that it improves not only his property but raises values in his neighborhood enriching those living nearby.
  • Consumer two uses their money as a down payment on a new Hyundai. The Hyundai Motor Company is a South Korean multinational automotive manufacturer headquartered in Seoul. Hyundai builds the vast majority of its vehicles at its plant in Ulsan, South Korea. It also operates plants all over the world with one in Mexico and a plant in Alabama. When I tried to research how likely the car was to be made here I hit a wall. One thing for certain is that it is packed full of South Korean parts and with each sale a bunch of dollars heads overseas.
  • In the final example consumer three slaps, small businesses, brick and mortar retailers, and the 30 million-plus Americans recently unemployed in the face. His online purchase from Amazon of products made in China and shipped from a facility located in another state. Just like in the case of consumer two a bunch of the money heads overseas but real disaster for the community is absolutely none of the money stays there. This sets the area up for a new wave of store closings, prolonged unemployment, and declining real estate prices.
And It’s Gone!

 

 

Many of our economic problems stem from the many consumers out there making poor decisions. This includes things such as paying too much for a car they cannot afford or maintain.These automobiles generally do not last long and often get put on a hook. The least responsible consumers tend not to fulfill obligations due but to take on new debt and squander every penny they can lay their hands on. Online shopping and companies such as Amazon are like heroin to an addict when it comes to promoting spending that destroys real economic strength.

Those people that have chosen to skip paying the essentials such as home mortgages and rent will most likely come to regret it as they are hit with penalties and their actions come back to haunt them. The elephant in the room when it comes to growing the economy is how “the broken window theory” is spun and interpreted. The gist of this theory is that if a hooligan breaks the window of a bakery, the subsequent repair expenditures by the baker will have no net benefits for the economy. Interestingly, it is not uncommon to see destruction touted as a good thing because it promotes spending. The idea destruction is good based on this reasoning discounts several facts.

One has to do with where the money is coming from but whether it is from an insurance company or the baker it still means the money is diverted from being used on another purchase. Repairing a broken window is maintenance spending which doesn’t improve growth because it doesn’t improve productivity; it would have occurred anyway. The only thing a broken window does is it makes the maintenance spending occur earlier, lowering the use life of the window. While maintenance spending may keep the economy going it doesn’t provide a boost. Instead, it is better to invest the money in something which creates wealth by increasing productivity.

Many people and even economists have real misconceptions as to how the economy works. Where money flows and who it enriches is a key component of economics, the failure to consider this is a blind spot many people have. After years of being told everything revolves around spending, this diminishes the important role savings plays in the scheme of a balanced economy. Fans of Keynesian economics that encourage government spending to stabilize the economy during a downturn tend to discount the importance that where and how money is spent matters a great deal.

 

 

 

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Jun 252020
 


Thomas Eakins Walt Whitman 1891

 

Strzok’s Newly Discovered FBI Notes Deliver Jolt To ‘Obamagate’ Evidence (JTN)
Flynn Dismissal Order ‘Thoroughly Demolishes’ Dissenting Judge’s Opinion (ZH)
Julian Assange Accused In US Indictment Of Conspiracy (Fox)
State, Local Gov’ts Need Billions More In Aid To Avert 4 Million Layoffs (MW)

 

 

Ever since I began reporting on the new coronavirus, I have pointed to trendlines as the reason to publish graphs and numbers on a daily basis. They make it possible to see how things develop. And what I see lately scares the heebees out of me. The trendlines tell us that things are getting worse, fast, while at the same time everyone pretends that they’re ready to re-open their societies.

I’ve said from the start that lockdowns can only be temporary, because we are social beings, but also that you need to use a lockdown wisely. Very few societies have, though.

In a few days’ time we will cross 10 million global confirmed cases, and 500,000 deaths. There is a lot wrong with the way these numbers are tallied, but they’re the best we have. And yes, these two “milestones” indicate a case fatality rate of 5%. Now, I can hear the protests all the way over here, and I don’t think a 5% rate is real, but even just one tenth of that, an 0.5% rate, is pretty terrible.

Yes, there are many more infections than those 10 million, no doubt, but there are also a lot more deaths than half a million. And by the way, that is a lot of lives lost, we should never forget that. Moreover, both the cases and the deaths just keep on coming, and there is no end in sight to that.

If things continue along current trendlines, we will in all likelihood observe how the end to the lockdowns does a lot more economic damage than the lockdowns ever did. Several US states already ring alarm bells over their healthcare facilities threatening to be overwhelmed.

And what about Brazil, Mexico, India and more? What will happen in Europe now all countries there are opening up, claiming that they have it all solved? There are many many millions of jobs in the west that are gone forever, and I can’t see countries being prepared to deal with that.

Be careful out there!

 

 

 

 

 

 

 

 

 

 

 

Worldometer reports new cases for June 24 (midnight to midnight GMT+0) at + 172,383.

 

 

New cases past 24 hours in:

• US + 38,621
• Brazil + 40,021
• Russia + 7,790
• India + 23,229

 

 

 

From Worldometer yesterday evening -before their day’s close-:

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

A lot is being said about the “newfound” Peter Strzok notes from the Jan 4 2017 meeting with Rise, Yates, Biden, Comey, Obama. I think this part has more meaning than any other.

Strzok’s Newly Discovered FBI Notes Deliver Jolt To ‘Obamagate’ Evidence (JTN)

The real impact of the notes may be on the Justice Department’s ongoing investigation of the Russia investigators, where U.S. Attorneys John Durham and Jeff Jensen are determining whether the FBI or others committed crimes in deceiving the courts or Congress about the evidence in the now-discredited Russia collusion allegations. A former senior FBI official told Just the News that Strzok’s notes about the White House meeting are a red flag that the Comey-led bureau may have been involving itself illegitimately in a political dispute between the outgoing Obama administration and incoming Trump administration. “It was a political meeting about a policy dispute, and the bureau had no business being involved,” Former Assistant Director for Intelligence Kevin Brock said. “No other FBI director would ever have attended such a meeting.

“Comey is quoted in the notes as saying the Kislyak call appeared legit. At that point he should have gotten up and left the room,” Brock added. “The FBI had no business being represented in that meeting. It did not have a counterintelligence interest any longer.”

A second impact of the notes could be on the campaign trail. A few months ago, Biden claimed he was unaware of the Flynn probe as he was leaving the VP’s office. I know nothing about those moves to investigate Michael Flynn,” he said. He then clarified his denial. “I was aware that … they asked for an investigation,” Biden said. “But that’s all I know about it, and I don’t think anything else.” If Powell’s interpretation of the notes is correct, Biden was knowledgeable enough to suggest a possible pretext for continued investigation, the Logan Act. And he eventually unmasked one of Flynn’s intercepted phone calls a week later.

https://twitter.com/Techno_Fog/status/1275803339738021890

Read more …

Is this a deliberate mess?

Flynn Dismissal Order ‘Thoroughly Demolishes’ Dissenting Judge’s Opinion (ZH)

Missouri appellate attorney John Reeves has weighed in on today’s decision by the US Court of Appeals for DC ordering Judge Emmett Sullivan to grant a DOJ request to drop the case against Michael Flynn. The opinion, authored by one of the three judges on the panel, Neomi J. Rao, “thoroughly demolishes” a dissenting opinion by Judge Robert Wilkins – who Reeves thinks was so off-base that he “shot himself in the foot” when it comes to any chance of an ‘en-banc review’ in which the Flynn decision would be kicked back for a full review by the DC appellate court.

[..] In all my years of appellate practice, I don’t think I’ve ever seen a non-US Supreme Court appellate opinion that so thoroughly demolishes a dissenting opinion as this one. Judge Rao could not have done better in writing the opinion, and it should be required law school rdg. In addition, Judge Wilkins’ dissenting opinion is so off-the-mark that I believe he has shot himself in the foot for purposes of en banc review–in other words, he has ensured that otherwise-sympathetic judges on the DC Circuit will vote against en banc review. Judge Rao comes out swinging by holding that its earlier opinion in Fokker “foreclose[s] the district court’s proposed scrutiny of the government’s motion to dismiss the Flynn prosecution.” p. 7.

In relying on Fokker, Judge Rao explicitly rejects Judge Wilkinson’s argument that Fokker’s holding is dicta (that is, non-binding). She holds Fokker “is directly controlling here.” p. 14. Keep in mind that Fokker was written by Chief Judge Srinivasan, an OBAMA appointee. Judge Srinivasan does NOT want Fokker’s legitimacy undermined, no matter his politics. Judge Wilkins’ dissent implies that Fokker was wrongly decided, and that it conflicts with other federal appellate courts. See p. 23 of 28. Judge Srinivasan will NOT be impressed by this argument in deciding whether to grant en banc rehearing. Fokker does not create a split. Judge Rao goes on to emphasize that while judicial inquiry MAY be justified in some circumstances, Flynn’s situation “is plainly not the rare case where further judicial inquiry is warranted.” p. 6.

Rao notes that Flynn agrees with the Govt.’s dismissal motion, so there’s no risk of his rights being violated. In addition, the Government has stated insufficient evidence exists to convict Flynn. p. 6. Rao also holds that “a hearing cannot be used as an occasion to superintend the prosecution’s charging decisions.” p. 7. But by appointing amicus and attempting to hold a hearing on these matters, the district court is inflicting irreparable harm on the Govt. because it is subjecting its prosecutorial decisions to outside inquiry. p. 8 Thus, Judge Rao holds, it is NOT true that the district court has “yet to act” in this matter, contrary to Judge Wilkins’ assertions. p. 16. “[T]he district court HAS acted here….[by appointing] one private citizen to argue that another citizen should be deprived of his liberty regardless of whether the Executive Branch is willing to pursue the charges.” p. 16. This justified mandamus being issued NOW.

Read more …

https://twitter.com/MrsC_Assange/status/1276031301036896256

Julian Assange Accused In US Indictment Of Conspiracy (Fox)

WikiLeaks founder Julian Assange sought to recruit hackers at conferences in Europe and Asia who could provide his anti-secrecy website with classified information, and conspired with members of hacking organizations, according to a new Justice Department indictment announced Wednesday. The superseding indictment does not contain additional charges beyond the 18 counts the Justice Department unsealed last year. But prosecutors say it underscores Assange’s efforts to procure and release classified information, allegations that form the basis of criminal charges he already faces.

Beyond recruiting hackers at conferences, the indictment accuses Assange of conspiring with members of hacking groups known as LulzSec and Anonymous. He also worked with a 17-year-old hacker who gave him information stolen from a bank and directed the teenager to steal additional material, including audio recordings of high-ranking government officials, prosecutors say.

Assange’s lawyer, Barry Pollack, said in a statement that “the government’s relentless pursuit of Julian Assange poses a grave threat to journalists everywhere and to the public’s right to know.” “While today’s superseding indictment is yet another chapter in the U.S. Government’s effort to persuade the public that its pursuit of Julian Assange is based on something other than his publication of newsworthy truthful information,” he added, “the indictment continues to charge him with violating the Espionage Act based on WikiLeaks publications exposing war crimes committed by the U.S. Government.”

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What’s going to happen to all the people who end up without jobs?

State, Local Gov’ts Need Billions More In Aid To Avert 4 Million Layoffs (MW)

A new private sector report is warning anew of continuing damage to the economy if Washington doesn’t deliver several hundred billion dollars in budget relief to states and local governments amid the coronavirus pandemic. But Wednesday’s report by Moody’s Analytics, a private sector economic research firm, could also help illustrate a path for bipartisan agreement in Congress on next month’s fifth, and possibly final, COVID-19 response bill. The study warns that doing nothing to address the economic perils of state layoffs and cutbacks could cost 4 million jobs. But it also says that significantly less money is needed than what’s being called for by House Democrats, who passed almost $1 trillion in help for cash-poor states and local governments as part of a sweeping $3.5 trillion rescue package last month.


The Democratic bill combines $500 billion for state governments — as requested by the nation’s governors — and $375 billion for local governments, many of whom were left out of earlier relief efforts. The Moody study says that level of spending — rejected out of hand by Republicans — is likely beyond what’s needed. “The scope of aid being requested is certainly unprecedented in size and warrants significant scrutiny,” Moody’s says. “For example, the $1 trillion in aid recently approved as part of the house’s HEROES Act would be enough to raise the eyebrows of even the most aggressive advocates of fiscal stimulus.”

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