Jul 282020
 
 July 28, 2020  Posted by at 10:17 am Finance Tagged with: , , , , , , , , ,  9 Responses »


Dorothea Lange Migrant cotton picker’s children, live in government tent, Shafter Camp, CA 1938

 

Barr To Come Out Swinging In House Testimony (Solomon)
How Did Russia Get A Possible COVID19 Vaccine So Fast? (RT)
China Reports 68 New Coronavirus Cases, Including Two In Beijing (R.)
Mike Rowe Explains That Reality Is Going To Win With The Wuhan Virus (AT)
How The Eviction Crisis Across The US Will Look (CNBC)
The Insane Leading the Blind (Kunstler)
Assange Defence Team Concerned US is Seeking ‘Improper’ Delay of Case (Sp.)
Oil Giants Help Fund Powerful Police Groups In Top US Cities (G.)
Post-Brexit Agrochemical Apocalypse for the UK? (OffG)
CNN’s Stelter Breaches Confidentiality Agreement With Sandmann (Fox)
Emus Banned From Pub In Outback Australia Town (G.)
Facebook Vows To Break Up US Government Before It Becomes Too Powerful (Onion)

 

 

“Low” new cases for the world and US. US deaths also lower. We can hope and pray.

Biggest show in town is Bill Barr being grilled in the House. All conclusions have already been drawn in advance.

 

 

 

 

 

 

 

 

 

 

 

 

The biggest show in town today.

Barr To Come Out Swinging In House Testimony (Solomon)

Attorney General Bill Barr is planning a full-throated defense of his work inside the Justice Department and that of police nationwide when appearing before hostile House Democrats on Wednesday, condemning both the “bogus Russiagate scandal” and the senseless violence rocking U.S. cities. In prepared testimony released Tuesday evening on the eve of his House Judiciary Committee testimony, Barr declared that liberal activists’ “demonization of police is not only unfair and inconsistent with the principle that all people should be treated as individuals, but gravely injurious to our inner city communities.” “When a community turns on and pillories its own police, officers naturally become more risk averse and crime rates soar,” his prepared testimony states.

“Unfortunately, we are seeing that now in many of our major cities. This is a critical problem that exists apart from disagreements on other issues. The threat to black lives posed by crime on the streets is massively greater than any threat posed by police misconduct. The attorney general also lambastes liberal mayors for allowing serial violence to persist in their cities since George Floyd’s killing in Minneapolis and supporting efforts to undercut police department authorities and funding. “Unfortunately, some have chosen to respond to George Floyd’s death in a far less productive way — by demonizing the police, promoting slogans like ACAB (All Cops Are Bastards), and making grossly irresponsible proposals to defund the police,” he plans to tell lawmakers.

Later he adds, “To tacitly condone destruction and anarchy is to abandon the basic rule-of-law principles that should unite us even in a politically divisive time.” Barr also directly challenges Democrats’ claims he has been a lapdog for Trump, declaring the president has not interfered in his decisions. “My decisions on criminal matters before the Department have been my own, and they have been made because I believed they were right under the law and principles of justice,” he said. Barr suggested Democrats’ criticisms may be aimed at undercutting his efforts to investigate abuses in the now-discredited FBI investigation of Trump-Russia collusion.

“Ever since I made it clear that I was going to do everything I could to get to the bottom of the grave abuses involved in the bogus ‘Russiagate’ scandal, many of the Democrats on this Committee have attempted to discredit me by conjuring up a narrative that I am simply the President’s factotum who disposes of criminal cases according to his instructions,” Barr is set to testify. “Judging from the letter inviting me to this hearing, that appears to be your agenda today.”

Read more …

No way Big Pharma will tolerate such a thing.

How Did Russia Get A Possible COVID19 Vaccine So Fast? (RT)

This month, Moscow’s famed Sechenov University announced that the first phase of clinical trials for a vaccine had been a success. Some 38 volunteers who took part in human trials have been released with little or no side effects recorded. Researchers will now push forward, testing the vaccine’s efficiency, and prepping it for registration with the Health Ministry. Other prototypes are to follow, with some about to finish phase-one trials – which usually demonstrates the new vaccine’s safety for use in humans. It’s fairly easy to grasp why Russia is so keen to get a Covid-19 vaccine. Having reported more than 811,000 cases and 13,249 fatalities, it is among the five countries worst affected by the epidemic.

But how did it make a vaccine so fast, given that the coronavirus – or its deadly, crown-shaped SARS-CoV-2 strain – wasn’t known to scientists before 2020? Russia has over 20 years of experience in developing technology for producing vaccines. This helped to create the unique Covid-19 vaccine in a very short period of time by normal drug-development standards, Vadim Tarasov, head of Sechenov University’s Institute for Translational Medicine and Biotechnology, told RT Arabic in a comprehensive interview. “Nothing can be done from scratch,” he explained. Virologists at the Sechenov Institute and the Gamalei Institute of Epidemiology and Microbiology – another coronavirus research hub in Moscow – benefited from that “huge backlog” to decode the genome and structure of Covid-19 and quickly create a vaccine prototype.

The technology behind the Russian vaccine in question is based upon adenovirus, the common cold. Created artificially, the vaccine proteins replicate those of Covid-19 and trigger “an immune response similar to that caused by the coronavirus itself,” Tarasov revealed. In other words, getting immunized is slightly similar to having survived the coronavirus, but without its life-threatening risks. The vaccine, of course, won’t be a magical wand preventing everyone from getting sick. It may not stop the entire spread of coronavirus, but will make the symptoms much milder.

Read more …

Hong Kong over 100 several days in a row.

China Reports 68 New Coronavirus Cases, Including Two In Beijing (R.)

China reported 68 new coronavirus cases for July 27, up for the fourth consecutive day, including two in Beijing, the country’s health authority said on Tuesday. China is battling the most aggressive return of COVID-19 in months, driven by infections in the far western region of Xinjiang and a separate flare-up in the northeast. Of the new local infections for July 27, 57 were in Xinjiang, according to a statement by the National Health Commission. That brings the total number of cases in the region’s current outbreak to 235 since the first infection was reported on July 16. Xinjiang has yet to explain how patient zero, a 24-year-old woman who worked in a mall in its capital Urumqi, contracted the virus.


The northeastern province of Liaoning reported six new cases as of July 27. The current outbreak in Liaoning, which began on July 22, centred mostly on the port city of Dalian, east of Beijing. The first case in Dalian worked at a seafood processing company, and had not travelled out of the city in recent weeks. To contain the spread of the virus, Xinjiang and Dalian have tested millions of people for COVID-19, but the coronavirus is already on the move.

Read more …

Apparently many people experience panic and fear, induced by a faulty choice of media. I have no such thing. Maybe I should too. Rowe is mostly right. Get tested often, wear a mask where needed, and live your life. Rocket science it ain’t.

Mike Rowe Explains That Reality Is Going To Win With The Wuhan Virus (AT)

[..] for the last three months, I’ve been operating from the assumption that this is a year-round virus that’s eventually going to infect 100 million people and kill roughly 1/2 of one percent of those infected, conservatively. I’ve accepted those numbers. Unfortunately, millions of others have not. Many people have no sense of where this is headed, and I understand why. They’ve been betrayed by a hysterical media that insists on covering each new reported case as if it were the first case. Every headline today drips with dread, as the next doomed hotspot approaches the next “grim milestone.” And so, for a lot of people, everyday is Groundhogs Day. They’re paralyzed by the rising numbers because the numbers have no context. They don’t know where it will end.

But Dr. Osterholm says he does, and I’m persuaded that he’s correct. He might be wrong, and frankly, I hope he is, but either way, he’s presented us with a set of projections based on a logical analysis, and accepting those projections has allowed me to move past denial, anger, bargaining, and depression, and get on with my life with a better understanding of what the risks really are. Fact is, we the people can accept almost anything if we’re given the facts, and enough time to get evaluate the risk and make our own decisions. [..] don’t misunderstand. I’m not ignoring COVID, or downplaying COVID, or pretending the risks at hand aren’t real. Nor am I comparing COVID cases to car accidents – I’m simply comparing the fear of each to the other, and the fear that always accompanies uncertainty.

I don’t want to get this disease or give it to someone else, any more than I want to be in a car car wreck that injures someone else. But I’ve accepted certain things about the pandemic, and now, I’ve gotten used to the risk as I understand it. I take precautions. I get tested as often as I can, and if I can’t physically distance, I wear a mask – especially around higher risk people. Likewise, I wear a seatbelt, obey the speed limits, and check my mirrors before changing lanes.

Read more …

There’s an eviction stop in the new GOP proposal, far as I know.

How The Eviction Crisis Across The US Will Look (CNBC)

An unprecedented eviction crisis will soon hit the U.S. On Friday, the federal moratorium on evictions in properties with federally backed mortgages and for tenants who receive government-assisted housing expired. The Urban Institute estimated that provision covered nearly 30% of the country’s rental units. White House economic adviser Larry Kudlow said on Sunday that he would extend that moratorium, but these tenants are now unprotected from eviction. At the same time, some 25 million Americans will stop receiving the $600 weekly federal unemployment checks by July 31. And most of the statewide eviction moratoriums are winding down. The proceedings have resumed in more than 30 states. The moratorium in Hawaii and Illinois end this week, and in August, evictions will pick up in New York and Nevada.


By one estimate, some 40 million Americans could be evicted during the public health crisis. “It’s like nothing we’ve ever seen,” said John Pollock, coordinator of the National Coalition for a Civil Right to Counsel. In 2016, there were 2.3 million evictions, Pollock said. “There could be that many evictions in August,” he said. Massive unemployment has left more than 40% of renter households at risk of eviction, according to a new analysis by global advisory firm Stout Risius Ross. Some states will be harder hit than others, Stout found. For example, nearly 60% of renters in West Virginia are at risk of eviction, compared to 22% in Vermont. People of color are especially vulnerable. While almost half of White tenants say they’re highly confident they can continue to pay their rent, just 26% of African-American tenants could say the same.

Read more …

But peacefully.

The Insane Leading the Blind (Kunstler)

In Louisville, Saturday, just after lunchtime, the self-styled Not Fucking Around Coalition (NFAC) was mustering for action and “inspecting firearms” (according to NFAC comandante Grand Master Jay) when one of said weapons accidently discharged and mowed down three NFAC warriors — nicely demonstrating the hazards of fucking around with loaded weapons. In Austin Saturday night, one feckless BLM mob marcher name of Garrett Foster brought his AK-47 to the street party. When he pointed it at a motorist trapped by the crowd, he got blown away to that great struggle session in the sky, the surprise of his life, I’m sure. In Portland, OR, police found a bag of loaded rifle magazines and Molotov cocktails in the nearby park that serves as the rioters’ marshaling yard. Portland Mayor Ted Wheeler did not attend the evening’s frolics at the sore beset federal courthouse, having successfully subjected himself to ritual humiliation himself a few nights earlier. After midnight Sunday, police declared the Antifa actions “a riot” and made a few arrests.


Up Seattle way, a federal judge struck down the city council’s order against police using tear gas and pepper spray on rioters just in time for another weekend of rioting. SPD Chief Carmen Best declared, “In the spirit of offering trust and full transparency, I want to advise you that SPD officers will be carrying pepper spray and blast balls today, as would be typical for events that carry potential to include violence.” Hours later, after Antifas smashed the windows of ground-floor businesses, set fire to a construction site, and trashed the SPD’s East Precinct building, pepper spray and blast balls were deployed and forty-five of the mob were arrested (on rioting, assault, and other charges), while twenty-one SPD officers were injured. Down in LA, Antifas broke into the federal Bureau of Prisons Detention Center. In Richmond, VA, rioters set fire to a city dump truck used as a barrier to protect a police station.

Read more …

Next hearing August 14. “..despite its decade-long-head-start, the prosecution is still unable to build a coherent and credible case.”

Assange Defence Team Concerned US is Seeking ‘Improper’ Delay of Case (Sp.)

Julian Assange’s substantive extradition hearings are due to restart on 7 September at the Old Bailey, where it will be decided whether or not he should be sent the US to face up to 175 years in prison. Julian Assange’s defence team informed the court on 27 July 2020 that they fear Donald Trump’s administration may be seeking to delay the substantive extradition hearings until after the US elections in November 2020. Ed Fitzgerald QC attended the hearing in person for the first time since the implementation of COVID-19 restrictions. He told Judge Vanessa Baraitser at Westminster Magistrates’ Court that he is “concerned at a fresh [indictment] being brought [by the US government] at this stage, with the potential consequence to de-rail the proceedings”.

Mr Fitzgerald expressed his worry that the US attorney general is “doing this for political purposes” and suspected there is “some manipulation or some political motivation” on the part of the US authorities, something which he said would be wholly “improper”. The judge refused to discuss the matter further because the prosecution has, to date, failed to formally submit the superseding indictment upon the court. Joel Smith, the barrister who attended the hearing on behalf of the prosecution, told the court that he would “not able to commit to any time table” in terms of the second superseding indictment being formally served on the court and that it would “have to go through the usual channels” before he could say any more.

Kristinn Hrafnsson, WikiLeaks editor-in-chief, followed the hearing remotely from Iceland. He told Sputnik that “the political nature of the entire thing is becoming more and more clear to everybody”. He described as “absolutely unacceptable” the fact that the US administration has failed to serve the second superseding indictment onto the court. “We were at least expecting this to be served in the court today and the fact that the judge has only heard of it through email exchange from the defence is of course outrageous”, Mr Hrafnsson continued. “The ‘new’ superseding indictment actually contains nothing new. All the alleged events have been known to the prosecution for years. It contains no new charges. What’s really happening here is that despite its decade-long-head-start, the prosecution is still unable to build a coherent and credible case.”, Mr Hrafnsson also said.

[..] Judge Baraitser listed the next call-over hearing for 14 August and confirmed that the second part of Julian Assange’s substantive extradition hearings should begin on 7 September at the Old Bailey. Judge Baraitser said she expected the entire process to last three weeks though Mr Fitzgerald reminded her that the defence had previously stated that they would likely require a fourth week given the latest developments in the case.

Read more …

Climate and racism at the same time. Sounds very convenient. So who else is funding the police?

Oil Giants Help Fund Powerful Police Groups In Top US Cities (G.)

Big corporations accused of driving environmental and health inequalities in black and brown communities through toxic and climate-changing pollution are also funding powerful police groups in major US cities, according to a new investigation. Some of America’s largest oil and gas companies, private utilities, and financial institutions that bankroll fossil fuels also back police foundations – opaque private entities that raise money to pay for training, weapons, equipment, and surveillance technology for departments across the US. The investigation by the Public Accountability Initiative, a nonprofit corporate and government accountability research institute, and its research database project LittleSis, details how police foundations in cities such as Seattle, Chicago, Washington, New Orleans and Salt Lake City are partially funded by household names such as Chevron, Shell and Wells Fargo.

Police foundations are industry groups that provide substantial funds to local departments, yet, as nonprofits, avoid much public scrutiny. The investigation details how firms linked to fossil fuels also sponsor events and galas that celebrate the police, while some have senior staff serving as directors of police foundations. The report portrays the fossil fuel industry as a common enemy in the struggle for racial and environmental justice. “Many powerful companies that drive environmental injustice are also backers of the same police departments that tyrannize the very communities these corporate actors pollute,” it states.

[..] Carroll Muffett, the president of the Center for International Environmental Law, said: “This report sheds a harsh light on the ways police violence and systemic racism intersect with the climate crisis.” A spokeswoman for Chevron said the firm is a “good neighbor” wherever it operates. “Across the world, Chevron invests millions of dollars and thousands of volunteer hours on numerous programs and partnerships, helping communities improve their lives, achieve their aspirations and meet their full potential.”

Read more …

“It is the industry that does the testing.”

Post-Brexit Agrochemical Apocalypse for the UK? (OffG)

The British government, regulators and global agrochemical corporations are colluding with each other and are thus engaging in criminal behaviour. That’s the message put forward in a new report written by environmentalist Dr Rosemary Mason and sent to the UK Environment Agency. It follows her January 2019 open letter to Werner Baumann, CEO of Bayer CropScience, where she made it clear to him that she considers Bayer CropScience and Monsanto criminal corporations. Her letter to Baumann outlined a cocktail of corporate duplicity, cover-ups and criminality which the public and the environment are paying the price for, not least in terms of the effects of glyphosate. Later in 2019, Mason wrote to Bayer Crop Science shareholders, appealing to them to put human health and nature ahead of profit and to stop funding Bayer.

Mason outlined with supporting evidence how the gradual onset of the global extinction of many species is largely the result of chemical-intensive industrial agriculture. She argued that Monsanto’s (now Bayer) glyphosate-based Roundup herbicide and Bayer’s clothianidin are largely responsible for the destruction of the Great Barrier Reef and that the use of glyphosate and neonicotinoid insecticides are wiping out wildlife species across the globe. In February 2020, Mason wrote the report ‘Bayer Crop Science rules Britain after Brexit – the public and the press are being poisoned by pesticides’. She noted that PM Boris Johnson plans to do a trade deal with the US that could see the gutting of food and environment standards.

In a speech setting out his goals for trade after Brexit, Johnson talked up the prospect of an agreement with Washington and downplayed the need for one with Brussels – if the EU insists the UK must stick to its regulatory regime. In other words, he wants to ditch EU regulations. Mason pondered just who could be pulling Johnson’s strings. A big clue came in February 2019 at a Brexit meeting on the UK chemicals sector where UK regulators and senior officials from government departments listened to the priorities of Bayer Crop Science. During the meeting (Westminster Energy, Environment & Transport Forum Keynote Seminar: Priorities for UK chemicals sector – challenges, opportunities and the future for regulation post-Brexit), Janet Williams, head of regulatory science at Bayer Crop Science Division, made the priorities for agricultural chemical manufacturers known.

Dave Bench was also a speaker. Bench is a senior scientist at the UK Chemicals, Health and Safety Executive and director of the agency’s EU exit plan and has previously stated that the regulatory system for pesticides is robust and balances the risks of pesticides against the benefits to society. In an open letter to Bench, Mason responded: “That statement is rubbish. It is for the benefit of the agrochemical industry. The industry (for it is the industry that does the testing, on behalf of regulators) only tests one pesticide at a time, whereas farmers spray a cocktail of pesticides, including over children and babies, without warning.”

Read more …

Pending suits vs “ABC, CBS, The Guardian, The Huffington Post, NPR, Slate, The Hill, and Gannett, which owns the Cincinnati Enquirer, as well as miscellaneous other small outfits”.

CNN’s Stelter Breaches Confidentiality Agreement With Sandmann (Fox)

CNN’s chief media correspondent Brian Stelter may have landed himself in hot water, according to the attorney of Covington Catholic High School student Nicholas Sandmann. Last week, Sandmann announced that The Washington Post settled the $250 million defamation lawsuit he filed over its botched coverage of a viral confrontation with a Native American elder that had portrayed the Kentucky teen as the aggressor. This followed the multi-million dollar settlement CNN made with the teenager back in January. However, Sandmann’s attorney Lin Wood spotted a retweet from Stelter of a tweet written by attorney Mark Zaid, who speculated about how much money the teen walked away with from the settlement.

“Those with zero legal experience (as far as I can tell) should not be conjecturing on lawsuits they know nothing about. What kind of journalism is that?” Zaid asked. “I’ve litigated defamation cases. [Sandmann] was undoubtedly paid nuisance value settlement & nothing more.” Wood accused the “Reliable Sources” host of breaching his network’s own confidentiality agreement with his client. “This retweet by @brianstelter may have cost him his job at @CNN. It is called breach of confidentiality agreement. Brian Stelter is a liar. I know how to deal with liars,” Wood tweeted with a screenshot of Stelter’s retweet. Sandmann knocked the media guru, tweeting “Brian Stelter just can’t learn some basic lessons over at CNN.”

“I can’t decide if it’s worse to be Brian Stelter or believe Brian Stelter. He was never in any court hearing or meeting I was. So why does he act like he knows anything?” Sandmann added. CNN analyst Asha Rangappa appeared to agree with Zaid as well. “I’d guess $25K to go away,” Rangappa wrote. Responding to Rangappa’s tweet, Wood wrote “Heads are going to roll at CNN or @N1ckSandmann is going to filing another lawsuit & reveal truth.” Wood leveled a similar charge against Washington Post reporter Dan Zak, who suggested on Friday that the Post settled “for a small amount… in order to avoid a more expensive trial,” later adding that it’s the “American way.”

Read more …

This is the sort of indepth quality reporting we want to see from the Guardian. They suck at everything else anyway.

Emus Banned From Pub In Outback Australia Town (G.)

It can’t be easy being an emu in outback Australia at the best of times what with the heat and the perennial droughts. But to be banned from your local pub for bad behaviour must now be added to the list of grievances inflicted upon the big birds. Such is the problem Kevin and Carol – two emus in Yaraka, south of Longreach in western Queensland – now face after an edict was passed down by the only hotel in town last week. Gerry Gimblett, who owns the Yaraka Hotel with her husband Chris, told Guardian Australia they were left with no other option after the birds’ recent “bad behaviour”. “They’ve been stealing things from the guests, especially their food. They’d stick their heads in and pinch toast out of the toaster,” Gimblett explained.

“But the main reason we’ve banned them is their droppings. They’re enormous, very large and very smelly, and they created great stains,” she said. Gimblett, who took over the pub after she retired as a teacher, installed a barrier – a piece of rope – across the hotel’s entrances last week after the “much-loved” emus began entering the pub and disrupting patrons. Gimblett said the emus had become a tourist attraction after several eggs were hatched at the end of 2018, and while at one point there were nine emus in town, most had wandered away from town or been hit in accidents. Just two large emus remain, Kevin and Carol, who circle the area around the pub.


[..] Despite the emu population shrinking to just two, Gimblett said they remained noticeable given there “are only about 16 other” human residents in Yaraka, which is about a 13-hour drive west of Queensland’s capital, Brisbane. “We love them as part of the Yaraka community, but they’re not welcome inside any more.”

Read more …

“Zuckerberg closed his remarks with repeated assurances that despite a likely legal battle ahead, no one government could stand up to the fortitude of Facebook.”

Facebook Vows To Break Up US Government Before It Becomes Too Powerful (Onion)

In an effort to curtail the organization’s outsized influence, Facebook announced Monday that it would be implementing new steps to ensure the breakup of the U.S. government before it becomes too powerful. “It’s long past time for us to take concrete actions against this behemoth of governance that has gone essentially unchecked since its inception,” said Facebook CEO Mark Zuckerberg, noting that while the governing body may have begun with good intentions, its history showed a culture of recklessness and a dangerous disregard for the consequences of its decisions. “Unfortunately, those at the top have been repeatedly contemptuous of the very idea of accountability or reform, and our only remaining course is to separate the government into smaller chunks to prevent it from forming an even stronger monopoly over the public.” Zuckerberg closed his remarks with repeated assurances that despite a likely legal battle ahead, no one government could stand up to the fortitude of Facebook.

Read more …

 

 

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Jul 182020
 


John Vachon Paramount Theater and dairy truck, 44th Street, NYC 1943

 

Zelenko Study Suggests HCQ, Zinc Effective as Early Corona Treament (PRN)
Oxford Vaccine Could Provide ‘Double Protection’ (Sky)
Coronavirus Symptoms Fall Into Six Different Groupings (G.)
The Fed Is Setting The Stage For A Major Policy Change (BBG)
EU Leaders Deadlocked Over COVID Recovery Plan (R.)
As EU Leaders Squabble, The Elephant In The Room Goes Unnoticed (Varoufakis)
On Eve Of Bankruptcy, US Firms Shower Execs With Bonuses (R.)
A Tale of Two CNNs: A Network Struggling With Objectivity (Turley)
St. Louis Prosecutor Targeting McCloskeys Gets $78,000 From Soros Group (JTN)
White Helmets Co-Founder Stole Aid Money Destined For Syria (RT)
Docs Show Peter Strzok Tore Apart NYT Report On Trump-Russia Contacts (DC)
Joe Biden’s Plagiarism Is a Danger to America (Epshteyn)
A Bigger Picture (Jim Kunstler)

 

 

 

 

 

 

 

 

 

 

 

 

Maté NYT

 

 

“Hydroxychloroquine’s main function within this treatment approach is to allow zinc to enter the cell. Zinc is the virus killer..”

Zelenko Study Suggests HCQ, Zinc Effective as Early Corona Treament (PRN)

Dr. Vladimir Zelenko, a New York based primary care physician, announced that a retrospective analysis based on his patient data is available to read online at www.thezelenkoprotocol.com. The study, which has been submitted for peer review, found that early intervention and treatment of risk stratified COVID-19 patients in the outpatient setting resulted in five times less hospitalizations and deaths. The medications used in the treatment approach were zinc, low dose hydroxychloroquine, and azithromycin. Prior studies of COVID-19 treatments have been largely based on severely ill patients in the hospital. This study examines outcomes of patients treated after their first visit to the doctor’s office.

Using simple risk stratification criteria, Dr. Zelenko identified which patients required prescriptions for the triple drug therapy, and prescribed these medications for five days. To produce the study, Zelenko collaborated with Dr. Roland Derwand, a German medical doctor and life science industry expert, and Professor Martin Scholz, an independent consultant and adjunct professor for experimental medicine at Heinrich Heine University, Düsseldorf, Germany. Derwand and Scholz performed the data analysis while Zelenko handled all in-person treatments. The main results show that of 141 patients who were treated with the triple therapy, only 2.8% (4/141) were hospitalized compared to 15.4% of an untreated control group (58/377) (odds ratio 0.16, 95% CI 0.06-0.5; p<0.001).

Only 0.71% (1/141) patients died in the treatment group, versus 3.5% (13/377) in the untreated group (odds ratio 0.2, 95% CI 0.03-1.5; p=0.16). “These three medications are affordable, available in pill form, and work in synergy against COVID-19,” said Zelenko. “Hydroxychloroquine’s main function within this treatment approach is to allow zinc to enter the cell. Zinc is the virus killer, and azithromycin prevents secondary bacterial infection in the lungs and reduces the risk of pulmonary complications.” “The world seems to have forgotten common medical knowledge: that we want to treat any patient with an infectious disease as soon as possible,” said Derwand. “What differentiates this study is that patients were prescribed these medications early, in the outpatient setting. Dr. Zelenko treated his risk stratified patients immediately and didn’t wait for the disease to intensify.”

“The well-tolerated 5-day triple therapy resulted in a significantly lower hospitalization rate and less fatalities with no reported cardiac side effects compared with relevant public reference data of untreated patients,” said Sholz. “The magnitude of the results can substantially elevate the relevance of early use, low dose hydroxychloroquine, especially in combination with zinc. This data can be used to inform ongoing pandemic response policies as well as future clinical trials.” “It’s unfortunate much of the news coverage surrounding hydroxychloroquine has been negative,” Zelenko added. “This study suggests that when taken early and together with zinc and azithromycin, this cost-effective drug can be part of the solution to the pandemic.”

Read more …

Shame they don’t explain what that double thing might be. Reads like an ad.

Oxford Vaccine Could Provide ‘Double Protection’ (Sky)

Researchers at the University of Oxford believe they have made a breakthrough in the development of a coronavirus vaccine. Human trials are reported to have shown promising results after the team discovered the jab could provide “double protection” against the virus. Blood samples taken from volunteers in phase one trials have shown the vaccine stimulated the body to produce antibodies and T-cells, according to a report in The Daily Telegraph. T-cells play a central part in the body’s immune response. A source told the newspaper that the combination “will hopefully keep people safe”. The vaccine is one of more than 100 in development as the coronavirus continues to spread – infecting more than 13 million people and killing at least 582,000.

David Carpenter, chairman of the Berkshire Research Ethics Committee, which approved the Oxford trial, said the vaccine team was “absolutely on track”. He added: “Nobody can put final dates… things might go wrong but the reality is that by working with a big pharma company, that vaccine could be fairly widely available around September and that is the sort of target they are working on.” The vaccine development is being supported by the UK government and AstraZeneca. The pharmaceutical company’s chief executive said last month that phase one trials were due to finish and a phase three trial had begun which will see the vaccine given to thousands of people so it can be tested for efficacy and safety.

The firm has reached agreements to supply around two billion doses worldwide, despite acknowledging that it is not yet certain the vaccine will work. The vaccine is based on a weakened version of the common cold that causes infections in chimpanzees. It also contains the genetic material of the spike protein of SARS-CoV-2 – the strain of coronavirus that causes the COVID-19 illness. The UK government has also given £41m to the development of another coronavirus vaccine being developed by London’s Imperial College.

Read more …

If you let an algoritm do your work for you, it had better be a very good one. This feels shaky.

Coronavirus Symptoms Fall Into Six Different Groupings (G.)

Symptoms of Covid-19 appear to fall into six different groupings, researchers have revealed, in work they say could help to predict whether a patient will end up needing a ventilator or other breathing support. The team say the findings could give healthcare providers several days advanced warning of demand for hospital care and respiratory support. But it could also help flag patients at risk of becoming seriously ill, meaning home support, such as an oxygen meter or nurse visits, could be provided so that any deterioration is spotted quickly and hospital attendance is prompt. At present, the team added, the average time to get to hospital with Covid-19 is 13 days.

[..] The researchers drew on data from 1,653 users who tested positive for Covid-19, reported persistent symptoms and regularly logged updates on their health and situation. Overall, 383 of these users made at least one trip to hospital, and 107 required either extra oxygen or ventilation. [..] The team then used machine learning algorithms – a type of artificial intelligence – to explore whether some symptoms, among the 14 monitored, cluster together. The results suggest six different groupings based on the type of symptoms, when they occurred, and their duration within the first 14 days of participants’ sickness.

And there was more. “We saw that there was a very clear gradient between these clusters and outcomes in terms of [participants’ need for] respiratory support,” said Dr Claire Steves, clinical senior author on the paper from King’s College London, adding other factors such as older age or certain pre-existing medical conditions were more common in some groups.

The six groupings, or “clusters”, are:
Cluster 1: Mainly upper respiratory tract symptoms, such as a persistent cough, with muscle pain also present. About 1.5% of patients in this group required respiratory support, with 16% making one or more trips to hospital. This was the most common cluster of symptoms, affecting 462 participants.
Cluster 2: Mainly upper respiratory tract symptoms, but also a greater frequency of skipped meals and fever. Of patients in this group 4.4% required respiratory support, with 17.5% making one or more trips to hospital.
Cluster 3: Gastrointestinal symptoms such as diarrhoea, but few other symptoms. While only 3.7% of patients in this group later needed respiratory support, almost 24% made at least one visit to hospital.
Cluster 4: Early signs of severe fatigue, continuous chest pain and cough. Of patients in this group 8.6% required respiratory support, with 23.6% making one or more trips to hospital.
Cluster 5: Confusion, skipped meals and severe fatigue. Of patients in this group 9.9% required respiratory support, with 24.6% making one or more trips to hospital.
Cluster 6: Marked respiratory distress including early onset of breathlessness and chest pain, as well as confusion, fatigue and gastrointestinal symptoms. Almost 20% of this group needed respiratory support and 45.5% made one or more visits to hospital. But this was the least common symptom cluster, affecting 167 participants.

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The theories they base their decisions on are either outdated, plain wrong or made up on the spot. They have one thing in common: they benefit banks, not people. As long as the Fed remains in place, the US will never have a healthy economy.

The Fed Is Setting The Stage For A Major Policy Change (BBG)

For the Federal Reserve, this time really is different. Having learned a hard lesson in the last recovery – don’t tighten monetary policy too early – the central bank is leaning in the opposite direction. In practice, that means the Fed will not just emphasize actual inflation over forecasted inflation, but will also attempt to push the inflate rate above its 2 per cent target. It’s a whole new ballgame. The Fed’s traditional Phillips curve approach to forecasting inflation, which relies on the theory that inflation accelerates as unemployment falls, was widely criticized during the most recent economic recovery. Inflation remained quiescent in the wake of the Great Financial Crisis even as the unemployment rate fell to 3.5 per cent, well below the 2012 high estimate of the natural rate, or 5.6 per cent.

The Fed’s commitment to Phillips curve-based inflation forecasts induced it to raise interest rates too early in the cycle and continue to boost rates into late 2018 even as faltering markets signaled the hikes had gone too far. The Fed was eventually forced to lower rates 75 basis points in 2019 to put a floor under the economy. Inflation remained stubbornly below the Fed’s 2 per cent target throughout that period. Faced now with the prospect of another prolonged period of low inflation, Fed officials are signaling they will place less emphasis on Phillips curve estimates when setting policy. Fed Governor Lael Brainard said this week that “with inflation exhibiting low sensitivity to labor market tightness, policy should not preemptively withdraw support based on a historically steeper Phillips curve that is not currently in evidence.”

No longer are estimates of longer-run unemployment taken as almost certainly indicating the economy is at full employment. Instead, Brainard said the Fed should focus on achieving “employment outcomes with the kind of breadth and depth that were only achieved late in the previous recovery.” The Fed is going to try to run the economy hot to push down unemployment. By de-emphasizing the Philips curve, the Fed loses its primary inflation forecasting tool. Instead of an inflation forecast, the Fed will rely on actual inflation outcomes to determine the appropriate time to change policy. Brainard pointed out that “research suggests that refraining from liftoff until inflation reaches 2 per cent could lead to some modest temporary overshooting, which would help offset the previous underperformance.”

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The sheer quantity of the economic losses may well tear the EU apart. The rich countries have rich citizens to answer to, the poor have different problems.

EU Leaders Deadlocked Over COVID Recovery Plan (R.)

EU leaders failed on Friday to make headway in negotiations over a massive stimulus plan to breathe life into economies ravaged by the coronavirus pandemic, returning to their Brussels hotels shortly before midnight to rest and try again in the morning. Many of the 27 heads declared on arrival for their first face-to-face summit for five months that a deal was crucial to rescue economies in free fall and shore up faith in the European Union, which has lurched for years from crisis to crisis. But officials said a thrifty camp of wealthy northern states led by the Netherlands stood its ground on access to the recovery fund, in the face of opposition from Germany, France, southern nations Italy and Spain, and eastern European states.

The proposed sums under discussion include the EU’s 2021-27 budget of more than 1 trillion euros and the recovery fund worth 750 billion euros that will be funneled mostly to Mediterranean coast countries worst affected by the pandemic. Diplomats said the 27 remained at odds over the overall size of the package, the split between grants and repayable loans in the recovery fund and rule-of-law strings attached to it. But the main stumbling block was over vetting procedures to access aid, an EU official said, with Dutch Prime Minister Mark Rutte demanding that one country could block payouts from the fund if member states backslide on economic reform. “If they want loans and even grants then I think it’s only logical that I can explain to people in the Netherlands … that in return those reforms have taken place,” Rutte said, estimating the chances for a deal at fifty-fifty.

Polish premier Mateusz Morawiecki was even more gloomy. As the leaders broke up for the day, he tweeted that they were divided by a bundle of issues and said it was “highly probable” that they would fail to reach a deal on Saturday or even on Sunday if the summit drags past its scheduled two days. German Chancellor Angela Merkel, who celebrated her 66th birthday around the negotiating table in Brussels, was also cautious on chances for an agreement, envisaging “very, very difficult negotiations”.

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Recovery plan: 1%. Austerity: 4%.

As EU Leaders Squabble, The Elephant In The Room Goes Unnoticed (Varoufakis)

While the media are reporting the news of the deadlocked EU Summit negotiations over the so-called ‘Recovery Fund’, an eerie silence prevails regarding the Elephant in the Room: The huge wave of austerity the Eurozone is sleepwalking towards. Let’s look at the facts. Even if the Dutch Prime Minister, Mr Rutte, and the rest of the ‘frugal four’, were to remove their objections to the Recovery Fund’s terms and conditions, the net fiscal effect across the Eurozone will be no more than 1% annually for three years. Now, let us turn to the Elephant in the Room: the dreaded return of the obligation to balance government budgets, the infamous Fiscal Compact.

According to the optimistic scenario of the European Commission, the Eurozone’s mean government budget in 2020 will be -8% of total Eurozone GDP . Of this, next year, the nascent steady-state recovery will remove, at best 4%, leaving the Eurozone, on average, with a -4% 2021 budget deficit. Moreover, as this is a mean, some countries (e.g. Italy and Greece) are facing, in 2021, a steady state budget deficit in excess of -8% (down from -15% in 2020). Which means that, to get back to balanced budgets, on average, the Eurozone will impose upon itself fiscal austerity of approximately 4% of its aggregate GDP, with countries like Italy and Greece facing an austerity nightmare in excess of 8% of their crushed GDP.

If this were to be allowed to happen, the Recover Fund’s 1% annual fiscal boost will be countered by a 4% fiscal austerity wave. As Europe begins to recover from the pandemic’s disastrous effects, Brussels will be hitting our economies over the head with a sledgehammer. And yet, ultimate proof that the EU’s establishment resembles the Bourbons (in that they forget nothing and learn nothing!), our great and good leaders refuse to discuss this ominous Elephant in the Room, choosing instead to invest hours in endless negotiations over the 1% fiscal boost and whether it should be reduced or how it will be managed.

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This is America.

On Eve Of Bankruptcy, US Firms Shower Execs With Bonuses (R.)

Nearly a third of more than 40 large companies seeking U.S. bankruptcy protection during the coronavirus pandemic awarded bonuses to executives within a month of filing their cases, according to a Reuters analysis of securities filings and court records. Under a 2005 bankruptcy law, companies are banned, with few exceptions, from paying executives retention bonuses while in bankruptcy. But the firms seized on a loophole by granting payouts before filing. Six of the 14 companies that approved bonuses within a month of their filings cited business challenges executives faced during the pandemic in justifying the compensation.Even more firms paid bonuses in the half-year period before their bankruptcies.

Thirty-two of the 45 companies Reuters examined approved or paid bonuses within six months of filing. Nearly half authorized payouts within two months. Eight companies, including J.C. Penney and Hertz, approved bonuses as few as five days before seeking bankruptcy protection. Hi-Crush Inc, a supplier of sand for oil-and-gas fracking, paid executive bonuses two days before its July 12 filing. J.C. Penney – forced to temporarily close its 846 department stores and furlough about 78,000 of its 85,000 employees as the pandemic spread – approved nearly $10 million in payouts just before its May 15 filing. On Wednesday, the company said it would permanently close 152 stores and lay off 1,000 employees.

[..] Luxury retailer Neiman Marcus Group in March temporarily closed all of its 67 stores and in April furloughed more than 11,000 employees. The company paid $4 million in bonuses to Chairman and Chief Executive Geoffroy van Raemdonck in February and more than $4 million to other executives in the weeks before its May 7 bankruptcy filing, court records show. Neiman Marcus drew scrutiny this week on a plan it proposed after filing for bankruptcy to pay additional bonuses to executives. Hertz – which recently terminated more than 14,000 workers – paid senior executives bonuses of $1.5 million days before its May 22 bankruptcy, in part to recognize the uncertainty they faced from the pandemic’s impact on travel, the company said in a filing.

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Turley is overly diplomatic. CNN left objectivity behind a long time ago. CNN only still exists because Trump exists and they can dump on him 24/7.

A Tale of Two CNNs: A Network Struggling With Objectivity (Turley)

There was a telling moment of dissonance on CNN this week, a network that is now unrelenting in its negative and highly partisan coverage of the Administration. CNN’s White House reporter Jim Acosta has been repeatedly called out for such bias and sent out a clearly misleading tweet bashing White House press secretary Kayleigh McEnany. Meanwhile, CNN host Jake Tapper set the record straight in fairness to McEnany. While I have occasionally criticized Tapper, I have more often praised him for his professionalism and intellect. This is why. This is what CNN was once and, with the help of figures like Tapper, it could be again: an honest and objective news organization.

In Thursday’s briefing, McEnany repeated President Trump’s call for children to go back to school in the fall. “The science should not stand in the way of this, but as Dr. Scott Atlas said — I thought this was a good quote, ‘Of course, we can do it. Everyone else in the Western world, our peer nations are doing it. We are the outlier here.’ The science is very clear on this. For example, you look at the JAMA pediatric study of 46 pediatric hospitals in North America that said the risk of critical illness from COVID is far less for children than the seasonal flu. The science is on our side here. We encourage localities and states to just simply follow the science. Open our schools.”

She is clearly citing the science as supporting the position of the Administration. However, Acosta clipped the statement to make it sound like McEnany was dismissing the relevance of science: “The White House Press Secretary on Trump’s push to reopen schools: ‘The science should not stand in the way of this.’” That was clearly and absolutely false. However, Acosta knew that it would play well in the eco-journalistic model adopted by CNN. He quickly racked up 30,000 retweets. He then later added that McEnany actually meant the opposite. That received less than 700 retweets. It is the ultimate example of the demand of many viewers to only hear news that supports their own bias and adds to a type of journalistic comfort zone.

That was clearly and absolutely false. However, Acosta knew that it would play well in the eco-journalistic model adopted by CNN. He quickly racked up 30,000 retweets. He then later added that McEnany actually meant the opposite. That received less than 700 retweets. It is the ultimate example of the demand of many viewers to only hear news that supports their own bias and adds to a type of journalistic comfort zone. To Acosta’s credit, he sent out the second tweet, but saying “McEnany went on to say ‘the science is on our side here’” does not quite capture the scene. The quote was McEnany referring to a scientific study and, right after the line quoted, McEnany said “The science is very clear on this.” She then two lines later added “The science is on our side here.” The entire quote was McEnany raising a scientific study that supports their position.

It is akin to a McEnany saying “National security is not relevant because the Defense Department report supports this policy” only to have Acosta tweet “The White House Press Secretary: “National Security is not relevant” in White House policy. Over at CNN headquarters however Tapper stepped out of that comfort zone and corrected CNN’s chief medical correspondent Dr. Sanjay Gupta after he repeated the same false narrative that McEnany was having an “alternative facts kind of moment.” Tapper responded: “If I could just say, Sanjay,. I think she was just trying to say that the science shouldn’t stand in the way because the science is on our side. I don’t know that all of the science is on their side- and certainly, this White House, their respect for science knows bounds, let’s put it that way, but I think that’s what she was getting at.”

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Where the real battle is.

St. Louis Prosecutor Targeting McCloskeys Gets $78,000 From Soros Group (JTN)

The Missouri Justice Public Safety PAC, which is linked to George Soros, has donated nearly $78,000 in contributions to St. Louis Circuit Attorney Kim Gardner’s 2020 campaign, according to her July 15, 2020 financial report, obtained by Just the News. Missouri Justice & Public Safety PAC, which donated the amount through in-kind contributions, was contacted for this story but has yet to respond with comment. The Washington, D.C.-based political action committee is listed at the same street address as one that contributed to Gardner’s 2016 campaign. The Safety and Justice PAC that contributed to the 2016 campaign has the same 13th Street NW address of the Missouri Justice & Public Safety PAC. Both have financial links to Soros.

“Yes, it’s no secret we contribute to Safety and Justice PACs,” Soros spokesman Michael Vachon, told Just the News. “We are for criminal justice reform.” The Gardner campaign filed its financial report on Thursday, the same day Missouri GOP Sen. Josh Hawley sent a letter to Attorney William Barr calling for a federal civil rights investigation into Gardner. Gardner, St. Louis’ top prosecutor, remains under criminal investigation for her handling of the criminal investigation into former Republican Gov. Eric Greitens. More recently, Gardner has targeted Mark and Patricia McCloskey for defending their home June 28 when they brandished their guns as hundreds of Black Lives Matters protestors trespassed onto their property as they headed to the St. Louis mayor’s home.

The protesters barged through the McCloskeys’ privately closed gate and onto their private road. President Trump and Missouri Governor Michael Parson have even weighed in with concern for how Gardner is handling the situation. Hawley, who is the former Missouri attorney general, argues that Gardner has abused her office after seizing McCloskey’s guns while pursuing a possible indictment of the married couple.

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I’m so surprised I can’t tell you. These wankers receive over $30 million a year from governments?! To do what? Plants chemical canisters twice a year?

White Helmets Co-Founder Stole Aid Money Destined For Syria (RT)

As Western governments opened their checkbooks for the White Helmets – a controversial ‘rescue organization’ in Syria – their co-founder used the cash to top up his wage and even finance his wedding, according to a Dutch report. Days before he plunged from a window in Istanbul to his death last year, White Helmets co-founder and British mercenary James Le Mesurier admitted to defrauding Mayday Rescue, an organization that fundraised for the anti-government rescue group in Syria. According to documents seen by Dutch newspaper De Volkskrant, Le Mesurier told an accountant sent to audit the charity’s books that he forged receipts for $50,000, pretending that it was sent to finance an evacuation operation in Syria.

Instead, the money was paid to Le Mesurier himself. In addition to paying himself a salary of €24,000 ($27,414) per month, Le Mesurier dipped into company cash to finance a lavish wedding in Istanbul in 2018, and to issue loans to his new wife, former diplomat Emma Winberg, the report claims. The accountant sent to investigate Mayday found that “tens of thousands of dollars in cash” were withdrawn to pay for the “fairytale wedding.” Meanwhile, governments across the Western world were lining up to support Mayday, and channel money to the White Helmets. According to a 2018 report by the Dutch Ministry of Foreign Affairs, the organization took in $127 million between 2014 and 2018, with only $19 million of this haul coming from non-state donors.

The government of the Netherlands paid out almost $11.5 million in this period, while similar donations flowed in from Germany, Great Britain, Canada, Qatar, and others. Despite being hailed as fearless rescue workers, the White Helmets have been accused of partnering with Al-Qaeda. Operating exclusively in rebel-held territory, the group’s members have been photographed posing with jihadists and have been accused of staging chemical weapons attacks to draw in Western forces against Syrian President Bashar Assad. Le Mesurier’s death was deemed a suicide by Turkish authorities. Shortly afterwards, a number of countries that had donated to Mayday demanded an accountant have another look over the organization’s books. According to De Volkskrant, this probe found that most of Mayday’s financial records are “missing.” Donations were not just handed to the organization in Amsterdam and forwarded to Syria, but distributed through a network of commercial organizations in Turkey and Dubai.

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Less than four months until the election.

Docs Show Peter Strzok Tore Apart NYT Report On Trump-Russia Contacts (DC)

An FBI document released Friday details at least 14 inaccuracies in a New York Times report from early 2017 that leveled shocking allegations of Trump associates’ contacts with Russian intelligence officers. The document shows then-FBI counterintelligence official Peter Strzok’s comments on a Feb. 14, 2017 article entitled “Trump Campaign Aides Had Repeated Contacts With Russian Intelligence.” Written by journalists Michael Schmidt, Mark Mazzetti and Matt Apuzzo, the story cited four current and former American officials who said that U.S. law enforcement and intelligence agencies had intercepted call records showing that Trump associates had contacts with Russian intelligence in the year prior to the election. Strzok, who was the lead investigator on the Trump investigation, spotted 14 errors in the article.

The Senate Judiciary Committee released the document on Friday along with a memo of the FBI’s interviews with a key source of information for dossier author Christopher Steele. “This statement is inaccurate and misleading as written,” Strzok wrote in reference to the lead of the Times story, which said that officials had intercepted calls and obtained phone records of contacts between Russian intelligence officials and individuals associated with Trump. “We have not seen evidence of any individuals affiliated with the Trump team in contact with [Intelligence Officers],” Strzok’s note said. The Times reported that sources said former Trump campaign chairman Paul Manafort was one of the individuals picked up in intercepted calls with Russian intelligence officers.

The story also said that the FBI was sifting through a vast trove of call logs and intercepted communications as part of the investigation into any links between Trump associates and Russia. Strzok discounted those allegations, writing that “we are unaware of any call with any Russian government official in which Manafort was a party.” He also wrote that the FBI had “very few” call logs in its possession. Strzok reiterated in another section of the document that the FBI had no evidence that any Trump advisers had contact with Russian intelligence officials. “Again, we are unaware of ANY Trump advisers engaging in conversations with Russian intelligence officials,” he wrote.

The Times also inaccurately reported that the FBI was at the time investigation Roger Stone, a longtime Trump confidant. “We have not investigated Roger Stone,” Strzok wrote in reference to a section that said the FBI had “closely examined” the political operative along with several Trump campaign aides. [..] Sen. Lindsey Graham, who released the FBI documents on Friday, said in a press release that Strzok’s annotations on the Times article “are devastating in that they are an admission that there was no reliable evidence that anyone from the Trump Campaign was working with Russian Intelligence Agencies in any form.”

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And he’s not even doing the plagiarizing. His puppeteers to do it for him.

Joe Biden’s Plagiarism Is a Danger to America (Epshteyn)

Presumptive Democratic Party presidential nominee Joe Biden has a serious problem: His compulsive plagiarism has gotten out of control. As is clearly evident from his new policy platform, the former vice president just can’t stop stealing original ideas from other politicians—a rather worrying sign for someone whose mental fitness for the pressures of the presidency has already come under serious scrutiny. Biden’s “Made in America” doctrine—which calls for increased government purchases from U.S. producers—is strikingly similar to President Trump’s own America First economic platform. In fact, it’s almost identical to the executive order the president signed a full year ago prioritizing the purchasing of American-made products and the hiring of American workers by government agencies.

“Biden starts with a pretty basic idea—when we spend taxpayer money, we should buy American products and support American jobs,” the document reads, echoing Donald Trump’s repeated calls to “buy American” products and “hire American” workers (the very ideas the president has already put into practice using his executive authority). “He plagiarized from me, but he could never pull it off,” President Trump said recently, pointing out that Biden’s policies would not have nearly the same rejuvenating effect on the U.S. economy as Trump’s own decisive actions. “He likes plagiarizing. …But he said the right things because he’s copying what I’ve done, but the difference is he can’t do it.”

Of course, this sort of thing is nothing new for Biden. The “unity platform” he just released—a 110-page list of policy recommendations for the Democratic Party—shamelessly appropriated entire chunks of Senator Bernie Sanders’ (I-VT) “democratic-socialist” political agenda, in many cases word-for-word. Indeed, Biden even invited members of Bernie’s policy team to help craft the proposals. Last year, the Biden presidential campaign was also called out for pilfering language from various far-left special interest groups while crafting the candidate’s climate and education policies. Biden’s track record of plagiarism, in fact, can be traced all the way back to his days in law school. When confronted with his academic fraud, Biden airily blew off the accusations by claiming that his cheating was not “malevolent.”

The ugly tendency came back to haunt him during his 1988 presidential campaign, when he shamelessly stole turns of phrase from former Attorney General Bobby Kennedy and former Vice President Hubert Humphrey, and even appropriated the life story of British Labour Party Leader Neil Kinnock. Biden’s extensive history of plagiarism shows that neither he nor his political team have a clear, independent vision for the country. While the presumptive Democratic presidential nominee has never liked being called an empty vessel or a Trojan horse, that is precisely what his candidacy this election cycle has now become.

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Jim back to basics.

A Bigger Picture (Jim Kunstler)

In 1918, the country was lashed by a far deadlier pandemic disease at the same time it was fighting a world war, and daily life barely missed a step. The economy then was emphatically one of production, not the mere consumption of things made elsewhere in the world (exchanged for US IOUs), nor of tanning parlors, nail salons, streaming services, and Pilates studios. The economy was a mix of large, medium, and small enterprises, not just floundering giants, especially in the retail commerce of goods.

We lived distributed in towns, cities not-yet-overgrown, and a distinctly rural landscape devoted to rural activities — not the vast demolition derby of entropic suburbia that has no future as a human habitat. Banking was only 5% of the economy, not the bloated matrix of rackets now swollen to more than 40% of so-called GDP. Government at the federal and state levels was miniscule compared to the suffocating, parasitic leviathan it is now. What happened? Like Hemingway’s old quip about a man going broke slowly and then all-at-once, we allowed everything in American life to creep into hapless giantism too cumbersome to adapt to new conditions, and suddenly conditions have changed.

And now it’s all coming apart: the dying chain stores, the giant zombie companies that can only exist by borrowing money to buy back their own stocks, the auto-makers who have run out of lending schemes for non-creditworthy customers, the shale oil fracking companies that could never make a red cent, the agri-biz farmers grown morbidly obese on a diet of credit and government subsidies (just like their end-customers grew obese on engineered snack-foods), the Wall Street lords of financialization hypothecating fortunes by leveraging the stripped assets of everything not nailed down from sea to shining sea, the swelling underclass conditioned to helplessness, addiction, and vice, the inescapable ambient tyranny of media hype, propaganda, and disinformation, and, of course, the catastrophe that government has become.

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Jul 152020
 


Gas prices, Roosevelt and Wabash, Chicago 1939

 

Study Sees Harmful Effect Of Coronavirus Antibodies In ICU (SCMP)
US Base On Japan’s Okinawa Confirms 36 More Coronavirus Cases (R.)
Fundamentally Unsound (Hussman)
‘Jaw-Dropping’ Global Crash In Children Being Born (BBC)
I Still Believe This Will Be #Ourfinesthour (Ben Hunt)
Bari Weiss: Twitter is Editing the New York Times (ZH)
Eric Weinstein Takes Flamethrower To New York Times (ZH)
Banks Stand To Make $18 Billion In PPP Processing Fees From CARES Act (IC)
Trump Ends Preferential Status For Hong Kong, China Vows Retaliation (R.)
Boeing 737 MAX Cancellations Top 350 Planes In First Half Of 2020 (R.)
Qantas Cancels All International Flights Until March 2021 (ZH)
US Mortgage Delinquencies Suddenly Soar at Record Pace (WS)
Judge Rejects $18.9 Million Harvey Weinstein Sex Abuse Settlement (R.)
Damage to the Soul (Craig Murray)

 

 

We seem to have stopped setting new daily records for now.

 

 

 

 

 

 

 

 

 

 

Tapper

Sessions

 

 

And why not? Let’s make it more confusing, why don’t we? Most if not all vaccine trials are based on observing increased antibodies.

Study Sees Harmful Effect Of Coronavirus Antibodies In ICU (SCMP)

Antibodies generated by the immune system to neutralise the novel coronavirus could cause severe harm or even kill the patient, according to a study by Dutch scientists. Immunoglobulin G (IgG) is a fork-shaped molecule produced by adaptive immune cells to intercept foreign invaders. Each type of IgG targets a specific type of pathogen. The IgG for Sars-CoV-2, the virus causing Covid-19, fights off the virus by binding with the virus’ unique spike protein to reduce its chance of infecting human cells. They usually appear a week or two after the onset of illness, when the symptoms of most critically-ill patients suddenly get worse.

A research team led by Professor Menno de Winther from the University of Amsterdam in the Netherlands said they might have found an important clue that may answer why the IgG appears only when patients are ill enough to be admitted to the intensive care unit (ICU). The scientists found that the blood from Covid-19 patients struggling for their life on ventilators was highly inflammatory. They observed during a series of experiments that it could trigger an overreaction of the immune system, destroy crucial barriers in tissues and cause water and blood to spill over in the lungs. When Winther and his colleagues compared the blood from Covid-19 patients to those battling other diseases in the ICU, they discovered that Covid-19 patients had a disproportionately large amount of Sars-CoV-2-specific IgG.

These antibodies “strongly amplify pro-inflammatory response”, they said in a non-peer-reviewed paper posted on preprint platform bioRxiv.org on Monday. When Winther applied the pure form of these antibodies directly to healthy blood and tissue cells, nothing happened. But when combined with a giant immune cell called macrophage, which forms when the body senses an infection, the IgGs caused the macrophages to implode, releasing a large amount of inflammatory molecules known as cytokines, causing “striking” destruction, said the researchers.

[..] A Chinese government epidemiologist based in Shanghai said the Dutch paper confirmed “what we suspected for a long time”. Several studies from China have also found the destructive role played by the macrophages in severely ill patients and proposed potential drugs that could suppress the cytokine storm. But the roles of antibodies could be more complex than what have been described, according to the researcher. For instance, it remains unclear whether vaccine-induced antibodies, which are supposed to contain some highly specific neutralising IgGs, will have the same effect in the very early stage of infection.

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“36 more COVID-19 cases among U.S. military in #OccupiedOkinawa, bringing the current total to 136. This gives the U.S. military a COVID-19 rate 200 times larger than Okinawa Prefecture.”

US Base On Japan’s Okinawa Confirms 36 More Coronavirus Cases (R.)

Authorities have confirmed 36 more coronavirus infections at Camp Hansen on Japan’s Okinawa, taking to 136 the tally at U.S. military bases on the island, Kyodo News said on Wednesday. The outbreak emerged at the weekend, provoking the anger of the prefecture’s governor, who has called into question the U.S. military’s virus prevention measures.

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Small part of a seemingly endless investor piece.

Fundamentally Unsound (Hussman)

My impression is that while the infectivity of SARS-CoV-2 is likely due to accessory proteins of the virus that knock down respiratory defenses, the lethality of COVID-19 (the resulting disease) is largely due to infiltration and retention of highly inflammatory blood cells into lung tissue, that then degrade, perforate, and cross through the alveolar-capillary barrier. The result is cell damage to alveoli (the air sacs that the lungs use to exchange oxygen with the blood) and to vascular linings, so that fatality is driven by the combination of oxygen deprivation and thrombosis. This is not the flu. In recent weeks, we’ve seen rapid outbreaks in Florida, Texas, and several other states, largely in the same places where protective measures like distancing and masks were disregarded. This isn’t really a “second wave.” It’s more like the start-stop profile of local outbreaks that was predictable even in February.

The only surprise is that it has involved entire states, because somehow, well-understood features of epidemiology and cell biology have become subjects of wildly ignorant political debate. Having written on the urgency of containment beginning on February 2, when the U.S. had only 5 cases and zero deaths, watching this predictable, slow motion train wreck has been excruciating. It is increasingly clear that the primary mode of transmission for SARS-CoV-2 is exhaled air from infected individuals. There’s some evidence that toilet bowls and hospital floors also act as reservoirs for expelled viral particles, but unless you’re regularly sticking your hands into toilet bowls or wiping them on hospital floors, the most likely way to acquire the virus is from expelled air.

The half-life of suspended (“aerosolized”) particles in a room without much ventilation is over an hour, and while some masks clearly provide better filtration than others, even cloth and bandana-type masks substantially reduce the number and distance of expelled particles. So even the crudest mask will reduce the viral load to others. A good analysis of a super-spreading event in Washington State at a Skagit Valley Chorale rehearsal concluded, “the risk of infection is modulated by ventilation conditions, occupant density, and duration of shared presence with an infectious individual.” Exactly. Yet even taking basic protective measures for oneself and others seems to be a problem. When people imagine that not wearing a mask in an indoor public place is somehow an expression of their “individual freedom,” or that it’s “hurting the economy,” they’re not only endangering everyone else – they’re also ensuring that much more stringent measures will be necessary later in order to avoid mass fatalities.

It’s exactly the weak, dismissive response – especially early on, but then encouraged almost daily – that has put U.S. fatalities ahead of every other country on Earth. Indeed, researchers at Harvard recently estimated that “Between 70% and 99% of the Americans who died from this pandemic might have been saved by measures demonstrated by others to have been feasible.” Meanwhile, across 22 countries, there’s an 80% correlation between non-wearing of masks and number of deaths-per-million. That correlation is higher than for the percentage of elderly and the percentage with high body-mass index. Containment measures are critical when and where transmission rates are high.

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A different world.

‘Jaw-Dropping’ Global Crash In Children Being Born (BBC)

The world is ill-prepared for the global crash in children being born which is set to have a “jaw-dropping” impact on societies, say researchers. Falling fertility rates mean nearly every country could have shrinking populations by the end of the century. And 23 nations – including Spain and Japan – are expected to see their populations halve by 2100. Countries will also age dramatically, with as many people turning 80 as there are being born. The fertility rate – the average number of children a woman gives birth to – is falling. If the number falls below approximately 2.1, then the size of the population starts to fall. In 1950, women were having an average of 4.7 children in their lifetime.

Researchers at the University of Washington’s Institute for Health Metrics and Evaluation showed the global fertility rate nearly halved to 2.4 in 2017 – and their study, published in the Lancet, projects it will fall below 1.7 by 2100. As a result, the researchers expect the number of people on the planet to peak at 9.7 billion around 2064, before falling down to 8.8 billion by the end of the century. [..] Japan’s population is projected to fall from a peak of 128 million in 2017 to less than 53 million by the end of the century. Italy is expected to see an equally dramatic population crash from 61 million to 28 million over the same timeframe.


They are two of 23 countries – which also include Spain, Portugal, Thailand and South Korea – expected to see their population more than halve. “That is jaw-dropping,” Prof Christopher Murray told me. China, currently the most populous nation in the world, is expected to peak at 1.4 billion in four years time before nearly halving to 732 million by 2100. India will take its place. The UK is predicted to peak at 75 million in 2063, and fall to 71 million by 2100.

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“We the People? We the Pack.”

I Still Believe This Will Be #Ourfinesthour (Ben Hunt)

Back in early April, I wrote this about our battle with the coronavirus: “There is no country in the world that mobilizes for war more effectively than the United States. And I know you won’t believe me, but I tell you it is true: This will be #OurFinestHour.” Since then, our leaders have totally botched the Covid-19 war-fighting effort. I mean our leaders at every level of government and of every political stripe, and I mean that it has been spectacularly botched. Covid-19 is now endemic within the United States, meaning that it is neither effectively contained nor effectively mitigated. Meaning that it is uncontrolled and uncontrollable. Meaning that tens of thousands of Americans get sick with this disease every day, and between 500 and 1,000 Americans die. Every day.

It didn’t have to be this way. As I write this note, Germany – a large country with a federal political system and the 4th largest economy in the world – is reporting two Covid-19 deaths today. Two. Japan – an even larger country and even larger economy – is reporting one Covid-19 death today. One. But here’s the thing. Yes, our political leaders have been a horror show. God knows I’ve been railing about them for months. But there’s another awful truth at work here. We the people have failed our nation more than the politicians. In fact, I honestly don’t believe we still have a nation. We have a country, of course, but that’s just an administrative thing … here are the borders, here is your social security number, here are the rules for how we do things.

A nation is both less than a country and much, much more. A nation is the meaning of a country. A nation is the embodiment of We the People. It’s not that I think being an American has no meaning. It has a lot of meaning to me. It has a lot of meaning to many people. It has some meaning to almost everyone. It’s that being an American no longer has a shared meaning. [..] I knew that high-functioning sociopath politicians would continue to do their high-functioning sociopath thing, where with one hand they pump out culture-porn telling us that what really matters is our attitude towards Goya beans or Columbus statues, and with the other hand they pump out TRILLIONS of dollars into a money-laundering scheme we like to call “monetary policy”. All while MILLIONS of Americans are getting sick and MILLIONS of Americans are out of a job and TENS OF THOUSANDS of Americans are dead. I just never thought we would embrace this evil – and that’s what it is – in our heart of hearts.

Now this is the law of the jungle, as old and as true as the sky,
And the wolf that shall keep it may prosper, but the wolf that shall break it must die.
As the creeper that girdles the tree trunk, the law runneth forward and back;
For the strength of the pack is the wolf, and the strength of the wolf is the pack.

That’s from a poem by Rudyard Kipling. I know he’s been canceled, but I don’t care. I think he’s great.

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I don’t read the New York Times, and don’t know Bari Weiss. From what I see, I don’t believe Weiss is the finest person on the planet. But she confirms why I don’t read the NYT. In early 2016 I noticed them posting 10 mostly flimsy anti-Trump pieces a day, and I thought: I don’t like Trump, but I don’t need you to make up my mind for me, and that’s what you want to do. Question though: why did it take her another 4.5 years?

Bari Weiss: Twitter is Editing the New York Times (ZH)

The internal schism at the New York Times has claimed yet another staffer, as opinion editor Bari Weiss has left the paper and penned a scorching resignation letter denouncing the Times as nothing more than an echo chamber for ‘woke’ activists masquerading as journalists who believe dissent has no place on the platform. “But the lessons that ought to have followed the election—lessons about the importance of understanding other Americans, the necessity of resisting tribalism, and the centrality of the free exchange of ideas to a democratic society—have not been learned. Instead, a new consensus has emerged in the press, but perhaps especially at this paper: that truth isn’t a process of collective discovery, but an orthodoxy already known to an enlightened few whose job is to inform everyone else”. -Bari Weiss

As a refresher, the Times newsroom erupted in chaos following the decision to publish an Op-Ed by Sen. Tom Cotton (R-AK), in which he suggested that the Trump administration should deploy the military to quell violent race-riots gripping the country following the death of a black suspect while in custody of Minneapolis police. An internal schism formed within the Times, with younger ‘woke’ staffers insisting that such ‘wrongthink’ has no place on the platform, while others defended the decision to publish Cotton’s divergent opinion. In the end, the woke mob won; the Times added an editor’s note conveying regret for publishing it – which was accompanied by the resignation of editorial page editor James Bennett (who Weiss writes ‘led the effort’ to reform the paper after the 2016 election).

Which brings us back to Bari Weiss, who came under intense fire by her NYT colleagues after she laid out what was going on in the newsroom in a Twitter thread, which ultimately defended the decision to publish Cotton’s op-ed. In her Tuesday resignation letter, Weiss excoriated the Times. “My own forays into Wrongthink have made me the subject of constant bullying by colleagues who disagree with my views. They have called me a Nazi and a racist; I have learned to brush off comments about how I’m “writing about the Jews again.” Several colleagues perceived to be friendly with me were badgered by coworkers. My work and my character are openly demeaned on company-wide Slack channels where masthead editors regularly weigh in. There, some coworkers insist I need to be rooted out if this company is to be a truly “inclusive” one, while others post ax emojis next to my name. Still other New York Times employees publicly smear me as a liar and a bigot on Twitter with no fear that harassing me will be met with appropriate action. They never are.” -Bari Weiss

Weiss described the Times as a hostile work environment, and slammed the paper for allowing “this kind of behavior to go on inside your company in full view of the paper’s entire staff and the public.” “Showing up for work as a centrist at an American newspaper should not require bravery,” Weiss writes, adding “But the truth is that intellectual curiosity—let alone risk-taking—is now a liability at The Times.” “Why edit something challenging to our readers, or write something bold only to go through the numbing process of making it ideologically kosher, when we can assure ourselves of job security (and clicks) by publishing our 4000th op-ed arguing that Donald Trump is a unique danger to the country and the world? And so self-censorship has become the norm.

What rules that remain at The Times are applied with extreme selectivity. If a person’s ideology is in keeping with the new orthodoxy, they and their work remain unscrutinized. Everyone else lives in fear of the digital thunderdome. Online venom is excused so long as it is directed at the proper targets.”

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“That is obviously true but I’m sorry we can’t say that here. It will get me strung up.”

Eric Weinstein Takes Flamethrower To New York Times (ZH)

Eric Weinstein, managing director of Thiel Capital and host of The Portal podcast, has gone scorched earth on the New York Times following the Tuesday resignation of journalist Bari Weiss. Weinstein describes how The Times has morphed into an activist rag – refusing to cover “news” unpaletable to their narrative, while ignoring key questions such as whether Jeffrey Epstein’s sex-trafficking ring was “intelligence related.”

“At that moment Bari Weiss became all that was left of the “Paper of Record.” Why? Because the existence of Black Racists with the power to hunt professors with Baseball Bats and even redefine the word ‘racism’ to make their story impossible to cover ran totally counter-narrative. At some point after 2011, the NYT gradually stopped covering the News and became the News instead. And Bari has been fighting internally from the opinion section to re-establish Journalism inside tbe the NYT. A total reversal of the Chinese Wall that separates news from opinion. This is the paper in 2016 that couldnt be interested in the story that millions of Americans were likely lying to pollsters about Donald Trump. The paper refusing to ask the CIA/FBI if Epstein was Intelligence related.

I have had the honor of trying to support both @bariweiss at the New York Times and @BretWeinstein in their battles simply to stand alone against the internal mob mentality. It is THE story all over the country. Our courageous individuals are being hunted at work for dissenting. Before Bari resigned, I did a podcast with her. It was chilling. I‘d make an innocuous statement of simple fact and ask her about it. She‘d reply “That is obviously true but I’m sorry we can’t say that here. It will get me strung up.” That‘s when I stopped telling her to hang on. So what just happened? Let me put it bluntly: What was left of the New York Times just resigned from the New York Times. The Times canceled itself.

As a separate Hong Kong exists in name only, the New New York Times and affiliated “news” is now the chief threat to our democracy. This is the moment when the passengers who have been becoming increasingly alarmed, start to entertain a new idea: what if the people now in the cockpit are not airline pilots? Well the Twitter Activists at the @nytimes and elsewhere are not journalists. What if those calling for empathy have a specific deadness of empathy? Those calling for justice *are* the unjust? Those calling “Privilege” are the privileged? Those calling for equality seek to oppress us? Those anti-racists are open racists? The progressives seek regress? The journalists are covering up the news?

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Anyone surprised?

Banks Stand To Make $18 Billion In PPP Processing Fees From CARES Act (IC)

Banks will make out with $18 billion in fees for processing small business Paycheck Protection Program relief loans during the pandemic, according to calculations by Amanda Fischer, policy director at the Washington Center for Equitable Growth, a progressive economic think tank. That’s money taken directly out of the overall $640 billion pot of funding Congress allocated to the program it created as part of the CARES Act. “If we did it through a public institution, there would be [more than] $140 billion left,” Fischer noted, as opposed to the $130 billion still up for grabs. The Washington Center for Equitable Growth is releasing an analysis of the government response to the pandemic as soon as this week.

The fees compensate the banks for some of the costs that come with processing loans — call center time to handle business owners’ questions, employee hours spent on processing paperwork for both loan and forgiveness applications — and some of the risk they shoulder if any of the loans they extend end up being fraudulent. But there is no credit risk; if business owners who qualified for PPP loans later default, the Small Business Association takes the hit, not the banks. “Basically it’s free money,” Fischer said. For some banks, this money represents a hefty windfall. New Jersey-based Cross River Bank’s estimated $163 million haul would be more than double its net revenue last year. JPMorgan Chase could make $864 million.

The fact that banks are siphoning money off of the relief program is thanks to the fact that the United States had no existing public infrastructure ready to quickly get money out to struggling businesses when the pandemic hit. Fischer characterized it as “a failure of preparedness,” adding, “We should have invested in better systems.” The Small Business Association, which is running the PPP program, has long been criticized for struggling to process emergency relief quickly during past natural disasters. So when the time came to respond to the coronavirus crisis as fast as possible, the SBA was in no position to do it itself, and Congress mandated that the loans be run through banks instead. There weren’t many other options. “It’s hard to build the plane while you’re flying it,” Fischer said.

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Preferential Status for Hong Kong now equals Preferential Status for China. The US doesn’t have much choice.

It was also fun to read that the WHO team will NOT visit the Wuhan lab.

Trump Ends Preferential Status For Hong Kong, China Vows Retaliation (R.)

President Donald Trump on Tuesday ordered an end to Hong Kong’s special status under U.S. law to punish China for what he called “oppressive actions” against the former British colony, prompting Beijing to warn of retaliatory sanctions. Citing China’s decision to enact a new national security law for Hong Kong, Trump signed an executive order that he said would end the preferential economic treatment for the city. “No special privileges, no special economic treatment and no export of sensitive technologies,” he told a news conference. Acting on a Tuesday deadline, he also signed a bill approved by the U.S. Congress to penalize banks doing business with Chinese officials who implement the new security law.


“Today I signed legislation, and an executive order to hold China accountable for its aggressive actions against the people of Hong Kong, Trump said. “Hong Kong will now be treated the same as mainland China,” he added. Under the executive order, U.S. property would be blocked of any person determined to be responsible for or complicit in “actions or policies that undermine democratic processes or institutions in Hong Kong,” according to the text of the document released by the White House. It also directs officials to “revoke license exceptions for exports to Hong Kong,” and includes revoking special treatment for Hong Kong passport holders.

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A 737 MAX costs $110 million a piece.

Boeing 737 MAX Cancellations Top 350 Planes In First Half Of 2020 (R.)

Boeing customers canceled orders for 355 of its 737 MAX jets in the first half of 2020, the U.S. planemaker said on Tuesday, as the damage done by the jet’s grounding and the coronavirus crisis to the airline industry continued to mount. The planemaker, which has now been striving to get its once best-selling MAX planes back in the air for more than a year after two fatal crashes led to its grounding, said airlines and leasing companies canceled another 60 orders for the jet last month. Deliveries in the first half of the year also sank by 71% to just 70 planes as customers canceled or deferred shipments due to the collapse in air travel from coronavirus-led travel restrictions.


Deliveries are financially important to planemakers because airlines pay most of the purchase price when they actually receive the aircraft. Boeing said it handed over 10 aircraft in June, up from four planes in May, and six jets in April. [..] After adjusting for jets ordered in previous years but unlikely to be delivered currently, Boeing has now lost 784 net orders this year, rising from a loss of 602 net orders as of May end.

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Since Rainman, Qantas has been known for its safety.

Qantas Cancels All International Flights Until March 2021 (ZH)

The prospects for a V-shaped recovery in airlines are looking dim. The latest indication of how slow things are getting back to normal in the industry is Australian-based Qantas Airlines pulling all of its international flights off its website this week. The airline is cancelling routes to New Zealand until September 1 and flights to other international destinations have been cancelled until March 28, 2021 – nearly another year away – according to the Daily Mail. “All international and sale flights have been removed from the website until further notice due to the coronavirus pandemic,” a spokesperson for the airline said. “There are some international flights in the system but they are not currently operating.”

Flights are still available through the airline’s partner airlines like Emirates, British Airways and Cathay Pacific. But Qantas wants to prevent new bookings from being made on its own airline. Flights that have already been booked will proceed as planned. The move comes weeks after the airline cut 6,000 jobs, representing 20% of its workforce. The company’s CEO has also predicted that international flights wouldn’t resume until July 2021. “We have never experienced anything like this before – no-one has. All airlines are in the biggest crisis our industry has ever faced,” he said last month. “Revenues have collapsed, entire fleets are grounded and the world biggest carriers are taking extreme action just to survive.”

The decision to halt international flights comes after the airline’s decision to also ground its double decker A380 planes for at least three years and to retire six Boeing 747s. Trade Minister Simon Birmingham said in June that Australia’s borders would probably remain closed for another 4 months.

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US housing is under serious threat. That’s a serious theat to the entire banking system. Which will be bailed out.

US Mortgage Delinquencies Suddenly Soar at Record Pace (WS)

OK, it’s actually worse. Mortgages that are in forbearance and have not missed a payment before going into forbearance don’t count as delinquent. They’re reported as “current.” And 8.2% of all mortgages in the US – or 4.1 million loans – are currently in forbearance, according to the Mortgage Bankers Association. But if they did not miss a payment before entering forbearance, they don’t count in the suddenly spiking delinquency data. The onslaught of delinquencies came suddenly in April, according to CoreLogic, a property data and analytics company (owner of the Case-Shiller Home Price Index), which released its monthly Loan Performance Insights today. And it came after 27 months in a row of declining delinquency rates. These delinquency rates move in stages – and the early stages are now getting hit:

Transition from “Current” to 30-days past due: In April, the share of all mortgages that were past due, but less than 30 days, soared to 3.4% of all mortgages, the highest in the data going back to 1999. This was up from 0.7% in April last year. During the Housing Bust, this rate peaked in November 2008 at 2%: From 30 to 59 days past due: The rate of these early delinquencies soared to 4.2% of all mortgages, the highest in the data going back to 1999. This was up from 1.7% in April last year. From 60 to 89 days past due: As of April, this stage had not yet been impacted, with the rate remaining relatively low at 0.7% (up from 0.6% in April last year). This stage will jump in the report to be released a month from now when today’s 30-to-59-day delinquencies, that haven’t been cured by then, move into this stage.


Serious delinquencies, 90 days or more past due, including loans in foreclosure: As of April, this stage had not been impacted, and the rate ticked down to 1.2% (from 1.3% in April a year ago). We should see the rate rise in two months and further out. Overall delinquency rate, 30-plus days, jumped to 6.1%, up from 3.6% in April last year. This was the highest overall delinquency rate since January 2016 (on the way down). These delinquency rates are the first real impact seen on the housing market by the worst employment crisis in a lifetime, with over 32 million people claiming state or federal unemployment benefits. There is no way – despite rumors to the contrary – that a housing market sails unscathed through that kind of employment crisis.

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How sick is that US “justice system”? “..it would leave Weinstein’s victims with typical awards of just US$10,000 to US$20,000, while setting aside US$15.2 million for defence costs..”

Judge Rejects $18.9 Million Harvey Weinstein Sex Abuse Settlement (R.)

A US judge on Tuesday rejected a proposed US$18.9 million civil settlement for women who claimed they were subjected to sexual abuse and workplace harassment by the disgraced movie producer Harvey Weinstein. US District Judge Alvin Hellerstein in Manhattan said the preliminary settlement would be unfair to women who Weinstein raped or sexually abused, because it treated them no different from women who had merely met him. He also criticised a plan to set aside money to help Weinstein and the board of his former studio pay defence costs. “The idea that Harvey Weinstein could get a defence fund ahead of the plaintiffs is obnoxious,” Hellerstein said at a hearing.


A settlement would have resolved class-action litigation by Weinstein accusers, and New York Attorney General Letitia James’ lawsuit accusing Weinstein, his brother Bob Weinstein and their bankrupt Weinstein Co of maintaining a hostile work environment. Elizabeth Fegan, a lawyer representing nine Weinstein accusers, had argued that “all of the women were in the zone of danger” created by Weinstein, justifying class-action treatment. [..] James’ office will review the decision. “Our office has been fighting tirelessly to provide these brave women with the justice they are owed and will continue,” a spokeswoman said. The settlement drew objections from women who said it would leave Weinstein’s victims with typical awards of just US$10,000 to US$20,000, while setting aside US$15.2 million for defence costs. Douglas Wigdor, a lawyer representing six objectors, said he was pleased Hellerstein “swiftly rejected the one-sided proposal.”

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Talk about a sick justice system.

The format of Craig’s article is a bit hard to rhyme with that of the Debt Rattle. I tried. Do read the whole thing.

‘To have extradition decided on the merits of one indictment when the accused actually faces another is an outrage. To change the indictment long after the hearing is underway and defence evidence has been seen is an outrage. The lack of media outrage is an outrage.’

Damage to the Soul (Craig Murray)

In a truly extraordinary twist, Assange is now being extradited on the basis of an indictment served in the UK, which is substantially different to the actual indictment he now faces in Virginia if extradited. The Assange hearing was adjourned after its first full week, and its resumption has since been delayed by coronavirus. In that first full week, both the prosecution and the defence outlined their legal arguments over the indictment. [..] this is about switching to charges firmly grounded in “hacking”, rather than in publishing leaks about appalling American war crimes. The new indictment is based on the evidence of a “supergrass”, Sigurdur Thordarson, who was acting a a paid informant to the FBI during his contact with Wikileaks.

Thordarson is fond of money and is a serial criminal. He was convicted on 22 December 2014 by Reykjanes District Court in Iceland of stealing over US $40,000 and over 13,000 euro from Wikileaks “Sunshine Press” accounts by forging documents in the name of Julian Assange, and given a two year jail sentence. Thordarson is also a convicted sex offender, and was convicted after being turned in to the police by Julian Assange, who found the evidence – including of offences involving a minor – on Thordarson’s computer. There appears scope to doubt the motives and credentials of the FBI’s supergrass. The FBI have had Thordarson’s “Evidence” against Assange since long before the closing date for submissions in the extradition hearing, which was June 19th 2019.


That they now feel the need to deploy this rather desperate stuff is a good sign of how they feel the extradition hearing has gone so far, as an indicator of the prospects of a successful prosecution in the USA. [..] Then, to our amazement, the prosecution did not put forward the new indictment at the procedural hearing at all. To avoid these problems, it appears they are content to allow the extradition hearing to go ahead on the old indictment, when that is not in fact the indictment which awaits Assange in the United States. This is utterly outrageous. The prosecution will argue that the actual espionage charges themselves have not changed. But it is the indictment which forms the basis of the extradition hearing and the different indictment which would form the basis of any US prosecution.

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Berenice Abbott Murray Hill Hotel, New York 1935

 

Trump Commutes Roger Stone’s Sentence (Hill)
Blood Clots Found In ‘Almost Every Organ’ Of COVID Victims (NZH)
Official Covid-19 Statistics Are Missing Something Critical (EM)
The Risk-Free Upsides For China In The WHO’s Coronavirus Origin Quest (SCMP)
Ghislaine Maxwell Wants Bail Release Due To ‘Unprecedented’ COVID19 Risks (G.)
Catholic Church Lobbied For Taxpayer Funds, Got $3.5 Billion (AP)
Now What? (Jim Kunstler)
Democracy and the Illusion of Choice (CP)
American Airlines Tells Boeing: No Financing, No 737 MAX Deliveries (CNBC)
NYPD Limits Retirement Applications Amid 400% Surge This Week (NYP)
Erdogan Declares Hagia Sophia A Mosque After Turkish Court Ruling (R.)

 

 

Like the election of Donald Trump is the perfect symbol for what America has become, Roger Stone is the embodiment of Washington DC. There must be so much to be found out there if they want to go after him. But it’s not about him. Stone made the mistake of bragging about his links to Wikileaks, which he never had. If not for that, they would have left him alone.

That link was needed because from Wikileaks Robert Mueller could get to Russia on the entirely fabricated claims of connections Julian Assange was alleged to have had to Russian hackers (DNC files). Mueller’s investigation ended in absolute and embarrassing failure, and zero evidence, but what he could leave standing, because they could not defend themselves, were accusations against Assange and “13 Russians”.

Mueller chose that route. Which is why I have called him a coward and a liar.

I was reading earlier about the insane pre-dawn FBI raid on Stone’s home, executed by an entire army of agents, and including even helicopters. While they could have simply rung his doorbell. No love lost here for the man, but yeah, let him be.

 

 

Another round of new records all over.

 

 

 

 

 

 

 

 

 

 

Ben Hunt

 

 

Commuted, nor pardoned, in order for Stone to be able to fight on in court,

Trump Commutes Roger Stone’s Sentence (Hill)

President Trump on Friday commuted the prison sentence of longtime confidant Roger Stone after the former campaign adviser was sentenced to three years and four months in prison in connection with former special counsel Robert Mueller’s Russia investigation. The decision capped a months-long saga that has roiled the Justice Department and divided some of the president’s advisers. Stone was set to report to prison July 14, but his allies had lobbied for a pardon or a commutation, citing his risk of contracting coronavirus while in jail. The move Friday did not come as a particular surprise, as Trump had at various points in recent months signaled he was leaning toward intervening in Stone’s case. Trump told reporters he was considering a commutation or pardon for Stone as the date he was scheduled to report to prison loomed.

The announcement from the White House came roughly an hour after an appeals court denied Stone’s motion to delay the start of his prison term, scheduled to begin Tuesday. White House press secretary Kayleigh McEnany issued a statement Friday evening describing Stone as “a victim of the Russia Hoax that the Left and its allies in the media perpetuated for years in an attempt to undermine the Trump Presidency.” McEnany said that Trump had signed an executive grant of clemency commuting his “unjust” sentence. Trump has regularly railed against the prosecutors involved in the case, singled out the Obama-appointed federal judge overseeing the trial for criticism and complained that the conservative provocateur was the victim of a “ridiculous” process.

Stone, who has maintained his innocence and tried to appeal his conviction, was the last of six Trump associates to be charged in connection with Mueller’s investigation into the Trump campaign’s contacts with Russia that dogged the president’s first two years in office. Mueller did not find evidence to charge Trump campaign associates with conspiring with Russia to interfere in the 2016 election, but found that the campaign welcomed Moscow’s interference efforts. Justice Department leadership moved to reduce Stone’s sentencing recommendation in February in a highly controversial move, leading all four career prosecutors working on his case to quit. Stone was convicted in November by a jury in Washington, D.C., of all counts he was charged with, including lying to Congress in connection with its separate investigation into Russian interference, witness tampering and obstructing an official proceeding.

McEnany argued Friday that Stone was charged with “alleged crimes” arising “solely” from Mueller’s “improper” investigation and that the GOP operative’s imprisonment would put him at “serious medical risk.” However, she said that Trump did not want to “interfere” with Stone’s efforts to appeal his conviction, meaning that those efforts will move forward and his conviction will stand. “Roger Stone has already suffered greatly. He was treated very unfairly, as were many others in this case. Roger Stone is now a free man,” the spokeswoman said in a statement.

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It’s the blood, not the lungs.

Blood Clots Found In ‘Almost Every Organ’ Of COVID Victims (NZH)

Doctors have revealed fresh details on the terrible toll taken on the body by Covid-19, releasing the results of autopsies of those who have died in the pandemic. In a study published in The Lancet journal EClinicalMedicine, Dr Amy Rapkiewicz, the chair of the Department of Pathology at NYU Langone Medical Centre, showed the role played by blood clots in the progression of the disease. Describing how scientists found clotting in tiny blood vessels throughout the body, Rapkiewicz told CNN the findings were “dramatic”. “Because though we might have expected it in the lungs, we found it in almost every organ that we looked at in our autopsy study.” The autopsies also showed the extensive presence of megakaryocytes, large bone marrow cells that don’t usually appear outside the lungs and bones.


“We found them in the heart and the kidneys and the liver and other organs,” Rapkiewicz said. “Notably in the heart, megakaryocytes produce something called platelets that are intimately involved in blood clotting.” “I could not remember a case before where we saw that,” Rapkiewicz told the Washington Post. “It was remarkable they were in the heart.” Speaking to TCTMD, Rapkiewicz said it is “a very interesting observation that seems to be consistent across multiple Covid cases.” Noting that Covid’s effect on blood clotting is at the opposite end of the spectrum from other killer viruses such as ebola, Rapkiewicz said researchers need to be diligent and “learn from our history” and explore what is known about other contagious diseases that affect the body’s coagulation systems.

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Mortality vs Morbidity. The Quality-Adjusted Life Year (QALY) and its sister statistic, the Disability-Adjusted Life Year (DALY).

Official Covid-19 Statistics Are Missing Something Critical (EM)

At the moment, official record-keeping offers only three options when it comes to Covid-19: infection, recovery, or death. This misses a broad range of other potential outcomes for people who catch the virus — many of them bad. In medicine, physicians talk about “M&M,” or “Mortality and Morbidity.” Many hospitals even hold closed-door “M&M” conferences, where their providers discuss everything that’s gone wrong with their patients over the last week or month. Mortality is a pretty straightforward concept. Have patients died from a particular disease process, and if so, how? Were their deaths avoidable? Can the field of medicine learn anything from them which will improve patient care in the future?

Morbidity, though, is a much trickier concept. It includes the complications, health issues, and other negative outcomes (other than death) that a disease causes. Basically, it’s all the ways that a disease can make you unwell, even if it doesn’t actually kill you. Official statistics capture deaths that occur from Covid-19 reasonably well. Reporting methods are often updated, and epidemiologists have gone back and attempted to quantify Covid-19 deaths that were originally missed. But overall, death counts are a relatively easy metric to apply. Patients are either alive or dead. Knowing the difference is comparatively simple. But these official statistics miss quite a lot. Specifically, they fail to represent Covid-19 morbidity — the harm that the disease causes, even in people that it doesn’t kill.

In terms of measuring the long-term impact of the disease — and accurately evaluating risk — that’s a big problem. Mounting evidence shows that even if Covid-19 kills less than 1% of patients, it doesn’t necessarily leave the others it infects unharmed. Even those who have “recovered” may have long-term impacts from it. Morbidity can happen over a long-term period, so it is a harder variable to study and track in the early stages of a pandemic than death. Anecdotal reports and early data, though, show that Covid-19 morbidity may be a very real concern. According to a report in The Atlantic which followed several people with Covid-19 over multiple months, many had long-lasting symptoms and impairments (including headaches and debilitating fatigue) that didn’t resolve when their active infection stopped.

All of these cases were considered “mild” and didn’t result in the use of a ventilator or a stay in the ICU. And they occurred in people from a variety of age groups, not only older adults and the infirm. Yet despite these “low risk” factors, patients were still experiencing major impacts from the disease months after contracting it. A handful of studies about Covid-19 (as well as scholarship on previous coronaviruses) bears this out. Covid-19 infection can have long-term impacts on the lungs, heart, immune system, and even the brain. These include an increased risk for heart attacks, future respiratory infections (including more severe cases of flu), and neurological impacts like cognitive impairment.

[..] As risk professionals like Nassim Nicholas Taleb have pointed out, the failure to measure Covid-19 morbidity makes it far harder to evaluate the true risk from the pandemic. Simply looking at deaths is not enough. Mortality statistics fail to account for the people who survive the disease but suffer long-term harm — or those who die from its complications long after their initial infection has subsided. This blindness to morbidity may push populations toward more aggressive reopening, or away from risk-reduction measures like mandating face coverings. If deaths are declining, the picture may appear rosy. But in reality, the disease may be causing irreparable harm to millions of people — just in a way that’s invisible in current statistics.

Read more …

How much control do they really have? Are they sending their best people?

The Risk-Free Upsides For China In The WHO’s Coronavirus Origin Quest (SCMP)

China’s decision to allow in a WHO-led coronavirus investigation could offer a risk-free boost to its reputation and help to find an answer to a big question – how the disease began. That was the assessment of health specialists, who said the answers were needed to prevent future outbreaks. Two World Health Organisation experts, an animal health specialist and an epidemiologist, are expected to arrive in Beijing this weekend to meet Chinese scientists and doctors to discuss the terms of a WHO-led mission to trace the origin of the coronavirus. China agreed to the mission after a resolution passed unanimously in May at the World Health Assembly, the WHO’s governing body, calling for the WHO to work to identify the virus’ animal source.

Countries like Australia and the United States had previously led a call for a broader investigation into China’s handling of the outbreak, which was first identified in the central Chinese city of Wuhan in December. Sara Davies, an international relations professor specialising in global health governance at Griffith University in Australia, said China might have given approval because WHO officials were clear that the investigation was not about laying blame. “This is a scientific investigation, and that is a deliberate attempt to establish a clear marker that this is not about fault. It’s not the type of investigation that Australia and others were proposing earlier this year,” Davies said. The message was underlined earlier this week when Chinese foreign ministry spokesman Zhao Lijian stressed that the search for the origin would not just be in China.

Zhao said China had reached a “fundamental consensus” with the WHO that tracing the source of the disease should take place around the globe, a process that the WHO suggested would be ongoing and involve many countries. Wang Huiyao, president of the Centre for China and Globalisation, said China was honouring its promise to allow a WHO-led investigation when domestic outbreaks were under control. Wang added that China would benefit by addressing persistent claims about the pathogen’s origins. “There have been some doubts and rumours internationally, like the conspiracy theory concerning the laboratory in Wuhan. The investigation will help quash such rumours,” he said.

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So does Assange.

Ghislaine Maxwell Wants Bail Release Due To ‘Unprecedented’ COVID19 Risks (G.)

Ghislaine Maxwell should be released on bail while awaiting trial for her alleged involvement in Jeffrey Epstein’s child sex trafficking ring because of “the Covid-19 crisis and its impact on detained defendants”, the British socialite’s lawyers argued in Manhattan federal court papers filed on Friday. Maxwell, 58, was arrested on 2 July at her Bradford, New Hampshire, home. She faces up to 35 years in federal prison if convicted. Her lawyers insisted that Maxwell is not a flight risk, and said she is trying to keep a low profile amid unrelenting “carnival-like” media scrutiny. “As this court has noted, the Covid-19 pandemic represents an unprecedented health risk to incarcerated individuals, and Covid-19-related restrictions on attorney communications with pre-trial detainees significantly impair a defendant’s ability to prepare her defense,” Maxwell’s lawyers claimed in their bail argument.

“Simply put, under these circumstances, if Ms Maxwell continues to be detained, her health will be at serious risk and she will not be able to receive a fair trial.” Maxwell’s legal team proposed several bail conditions, including a $5m personal recognizance bond co-signed by six financially responsible people, backed by property in the UK worth over $3.75m. They also proposed limiting her travel to the New York City area, turning in all her travel documents, imposing home confinement in New York City with GPS monitoring, and restricting visitors to her immediate family, close friends and lawyers. A judge has set a hearing for Tuesday to hear bail arguments and to arraign Maxwell on multiple charges, including that she conspired to entice girls as young as 14 to engage in illegal sex acts with Epstein from 1994 through 1997 at his homes in New York City, Florida and New Mexico, and at Maxwell’s residence in London.

[..] “Ever since Epstein’s arrest, Ms Maxwell has been at the center of a crushing onslaught of press articles, television specials and social media posts painting her in the most damning light possible and prejudging her guilt. The sheer volume of media reporting mentioning Ms Maxwell is staggering,” her lawyers argued in the court papers. “The ‘open season’ declared on Ms Maxwell after Epstein’s death has come with an even darker cost – she has been the target of alarming physical threats, even death threats, and has had to hire security guards to ensure her safety. The media feeding frenzy, which has only intensified in recent months, has also deeply affected her family and friends,” they said. They said later that “Ms Maxwell will be at significant risk of contracting Covid-19 if she is detained, and she will not be able to meaningfully participate in the preparation of her defense due to the restrictions that have been placed on attorney visits and phone calls in light of the pandemic.”

Read more …

And here’s some more rich sex offenders.

“Catholic dioceses whose financial stress was due not simply to the pandemic, but also to recent payouts to victims of clergy sex abuse…”

Catholic Church Lobbied For Taxpayer Funds, Got $3.5 Billion (AP)

The U.S. Roman Catholic Church used a special and unprecedented exemption from federal rules to amass at least $1.4 billion in taxpayer-backed coronavirus aid, with many millions going to dioceses that have paid huge settlements or sought bankruptcy protection because of clergy sexual abuse cover-ups. The church’s haul may have reached — or even exceeded — $3.5 billion, making a global religious institution with more than a billion followers among the biggest winners in the U.S. government’s pandemic relief efforts, an Associated Press analysis of federal data released this week found. Houses of worship and faith-based organizations that promote religious beliefs aren’t usually eligible for money from the U.S. Small Business Administration.

But as the economy plummeted and jobless rates soared, Congress let faith groups and other nonprofits tap into the Paycheck Protection Program, a $659 billion fund created to keep Main Street open and Americans employed. By aggressively promoting the payroll program and marshaling resources to help affiliates navigate its shifting rules, Catholic dioceses, parishes, schools and other ministries have so far received approval for at least 3,500 forgivable loans, AP found. The Archdiocese of New York, for example, received 15 loans worth at least $28 million just for its top executive offices. Its iconic St. Patrick’s Cathedral on Fifth Avenue was approved for at least $1 million. In Orange County, California, where a sparkling glass cathedral estimated to cost over $70 million recently opened, diocesan officials working at the complex received four loans worth at least $3 million.

[..] There is no doubt that state shelter-in-place orders disrupted houses of worship and businesses alike. Masses were canceled, even during the Holy Week and Easter holidays, depriving parishes of expected revenue and contributing to layoffs in some dioceses. Some families of Catholic school students are struggling to make tuition payments. And the expense of disinfecting classrooms once classes resume will put additional pressure on budgets. But other problems were self-inflicted. Long before the pandemic, scores of dioceses faced increasing financial pressure because of a dramatic rise in recent clergy sex abuse claims.

The scandals that erupted in 2018 reverberated throughout the world. Pope Francis ordered the former archbishop of Washington, Cardinal Theodore McCarrick, to a life of “prayer and penance” following allegations he abused minors and adult seminarians. And a damning grand jury report about abuse in six Pennsylvania dioceses revealed bishops had long covered for predator priests, spurring investigations in more than 20 other states. As the church again reckoned with its longtime crisis, abuse reports tripled during the year ending June 2019 to a total of nearly 4,500 nationally. Meanwhile, dioceses and religious orders shelled out $282 million that year — up from $106 million just five years earlier. Most of that went to settlements, in addition to legal fees and support for offending clergy.

Loan recipients included about 40 dioceses that have spent hundreds of millions of dollars in the past few years paying victims through compensation funds or bankruptcy proceedings. AP’s review found that these dioceses were approved for about $200 million, though the value is likely much higher.

Read more …

“..this bare ruin of a crooked old pol..”

Now What? (Jim Kunstler)

[..] the linchpin of Wokesterism: it’s Whitey’s fault. Whitey is racism incarnate. White Fragility makes redemption impossible. No amount of penance, apology, or remediation can fix it. Which raises another question: why even bother entertaining reparations for slavery? It will never be enough. Which may be exactly why the Woke Inquisition’s real aim is to undermine all of America’s institutions and then bust up the republic. The petulant “Resistance” that dug in after Hillary’s shocking 2016 election loss did the groundwork by enlisting the FBI, CIA, NSC, DOJ and other federal agencies into seditious intrigues that made the federal apparatus of justice look (and act) corrupt and untrustworthy.

Everything about the Mueller inquiry was an exercise in bad faith and perfidy, leaving the engines of official justice so broken that their misdeeds can barely be corrected, let alone prosecuted. To this day, the Lawfare cadres sponsor the continued persecution of General Michael Flynn, months after the DOJ formally dropped its case against him. Do you suppose these turpitudes don’t rankle the substantial number of citizens who still refuse to be driven insane by the Woke terror? And who is the figurehead leading this Democratic Woke party wrecking crew of coercion? The empty shell of Joe Biden, a bumbling senator turned grifting vice-president, now a mere hologram of a candidate.

The renewed campaign of Covid-19 hysteria in the Woke press may be just a psy-op to stuff poor Joe back in his basement and make sure he stays off public view. They took him out for a brief airing yesterday in Pennsylvania, a low-grade fiasco. In a formal speech, Mr. Biden said, “So today, I’m releasing a brewplint [sic] — I think the press had — how to create millions of good-paying union jobs, using Protestant technology [say what?] that we need now, and in the future.” Hmmm. Protestant technology? What could that be? Sounds like another one of Whitey’s endless tricks.

After the speech, some media cornered the candidate beside a campaign limo. He managed to decline taking any questions and waddled stiffly away, glassy-eyed, his hands strangely splayed like seal flippers (another symptom?). Who are they kidding with this pathetic wind-up mummy, this bare ruin of a crooked old pol? What treacherous game are they playing now? What’s next…?

Read more …

Excellent from Rob Urie.

The Russiagate allegations shifted attention away from rejection of the Democrat’s political program in 2016 so that they could run the same program again in 2020…

Democracy and the Illusion of Choice (CP)

[..] from the potential victory of a social democratic program five months ago, electoral choice is now between a right-wing demagogue and the chief architect of the carceral state, militarization of the police and liberal obeisance to capital. There is a connection between the Democrats three-plus years spent pushing the un/disproven Russiagate story and Joe Biden’s miraculous ascent as the establishment candidate in 2020. The Russiagate allegations shifted attention away from rejection of the Democrat’s political program in 2016 so that they could run the same program again in 2020. Amongst the political variables open for ‘discussion,’ the choice of candidate is all there is. The political program is determined at the intersection of campaign contributions, the needs and desires of capital, and the ids of oligarchs freed from public accountability. Democracy has nothing to do with it.

The ‘left’ argument for electing Joe Biden is as a placeholder, without precisely explaining how placeholding has supported the upward redistribution of political and economic power for four decades running. Donald Trump made himself known— seemingly to his political detriment, while five decades in public life left Joe Biden a political unknown who oversaw the writing of the 1994 Crime Bill and the Patriot Act, supported the misguided U.S. war against Iraq, and acted as collection agent for the credit card company MBNA. That both men represent the interests of capital and disjoint constituencies within the neoliberal order again suggests political guidance from outside of electoral politics.

This description is difficult for Democrats because they never took account of their loss in 2016. The stories they told themselves of foreign intrigue and racial backlash weren’t, and still aren’t, supported by the data. The Russiagate pillars have fallen one by one until nothing is left but tribal shorthand for aesthetic aversion to ‘Trump!’ Otherwise, the SPLC (Southern Poverty Law Center) has been the gold standard of ‘ascendance of hate’ reporting since the 2000s. Outside of its made-for-the-establishment-press headlines, the number of racist and neo-Nazi hate groups is falling.

Read more …

Barely an industry anymore.

American Airlines Tells Boeing: No Financing, No 737 MAX Deliveries (CNBC)

American Airlines executives have told Boeing they will not take delivery of 17 737 Max airplanes unless the carrier can secure financing to pay for the aircraft, people familiar with the discussions told CNBC. The 17 Max planes are already built, but will not be delivered until the Federal Aviation Administration recertifies the aircraft and removes a grounding order, which is expected to happen later this summer or by early fall. When the FAA grounded the Max in March 2019, it meant Boeing was not allowed to deliver the 17 Max planes it had built for American. During the 15 months since the grounding, the financing for some of the 737 Max planes expired, leaving them unfunded.

The situation means Boeing Capital, which is Boeing’s financing division, will have to find a way to arrange financing for those planes. This could involve Boeing Capital buying the planes and leasing them to American. Another possible scenario could involve third-party aircraft leasing companies financing the planes in question. While Boeing will not comment specifically on its discussions with American, or on any other order, the company told CNBC: “Our focus continues to be on working with global regulators on the rigorous process they have put in place to safely return the 737 MAX to commercial service. We are not going to comment on discussions with our customers. It is an unprecedented time for our industry as operators confront a steep drop in traffic.

“We continue to work closely with our customers to support their operations, while balancing supply and demand with the realities of the market.” American has already taken delivery of 24 Max planes, and has another 76 ordered with Boeing. The Wall Street Journal previously reported American executives have threatened to cancel some of its Max orders.

Read more …

Who wants the job?

NYPD Limits Retirement Applications Amid 400% Surge This Week (NYP)

New York’s Finest are putting in for retirement faster than the NYPD can handle — while citing a lack of respect and the loss of overtime pay, The Post has learned. A surge of city cops filing papers during the past week more than quadrupled last year’s number — as the city grapples with a surge of shootings — and the stampede caused a bottleneck that’s forcing others to delay putting in their papers, officials and sources said. The NYPD said Wednesday that 179 cops filed for retirement between June 29 and Monday, an astounding 411 percent increase over the 35 who filed during the same period in 2019. The astonishing rush for the door came as 503 cops filed for retirement between May 25 — the day George Floyd was killed in Minneapolis, sparking anti-cop protests around the country — and July 3, the NYPD said.

That number represents a 75 percent increase over the 287 who filed for retirement during the same time last year, the NYPD said. Sources said the deluge of applications had overwhelmed the department — due to cancellation of overtime for the workers who process them — and that the number of daily applicants was being limited as a result. On Tuesday, The Post spotted a line of cops waiting outside the office at One Police Plaza where retirement papers get filed. “Apparently, the pension section is only taking a certain amount of people per day and I think they are backed up ’til late July, early August,” one cop said. “That’s why you don’t see like 100 a day, because they are only doing like 35 to 40 a day, by appointment.” A spokeswoman for the NYPD confirmed the “surge in the number of officers filing for retirement.”

“While the decision to retire is a personal one and can be attributed to a range of factors, it is a troubling trend that we are closely monitoring,” the spokesperson added. An NYPD spokeswoman noted that the department is not turning down any applications for officers retiring in the next 30 days — but has told cops putting in to retire after that to come back when a month out due to the increased activity. Sources blamed the situation — which comes amid an alarming spike in shootings — on growing anti-cop sentiment, coupled with a pending city law that would make it a crime for cops to use chokeholds while trying to subdue violent suspects. “There’s just droves and droves of people retiring. But there’s no surprise here, who the hell wants to stay on this job?” one cop said. “Why would you want to stay on this job when people don’t appreciate what you do?”

Read more …

Erdogan turns his back on Turkey’s founder Kemal Ataturk and reaches back to 15th century Ottoman empire.

“For those who don’t know, really near to Hagia Sophia in Istanbul, the Turks built the Blue Mosque, which is newer and big enough for all the muslims in the area (and then some). Erdogan is just trying to provoke christians and show to muslims worldwide he is their leader.”

Erdogan Declares Hagia Sophia A Mosque After Turkish Court Ruling (R.)

President Tayyip Erdogan declared Istanbul’s Hagia Sophia a mosque on Friday with the first Muslim prayers to begin in two weeks, after a top court ruled the ancient building’s conversion to a museum by modern Turkey’s founding statesman was illegal. Erdogan spoke on Friday just hours after the court ruling was published, brushing aside international warnings not to change the status of the nearly 1,500-year-old monument that is revered by Christians and Muslims alike. The United States, Russia and church leaders were among those to express concern about changing the status of the UNESCO World Heritage Site, a focal point of both the Christian Byzantine and Muslim Ottoman empires and now one of the most visited monuments in Turkey.

Greece’s culture ministry described the court decision as an “open provocation” to the civilized world, while UNESCO said it regretted it was not notified ahead of time and would now review the building’s status. Erdogan has sought to shift Islam into the mainstream of Turkish politics in his 17 years at the helm. He has long floated restoring the mosque status of the sixth-century building, which was converted into a museum in the early days of the modern secular Turkish state under Mustafa Kemal Ataturk. “With this court ruling, and with the measures we took in line with the decision, Hagia Sophia became a mosque again, after 86 years, in the way Fatih the conqueror of Istanbul had wanted it to be,” Erdogan said in a national address.


In a telling of history at times critical of the Byzantine Empire and the modern republic’s founders, Erdogan said Turkey could now leave behind “the curse of Allah, profits and angels” that Fatih – the Ottoman Sultan Mehmet II – said would be on anyone who converted it from a mosque. “Like all our mosques, the doors of Hagia Sophia will be open to all, locals and foreigners, Muslims and non-Muslims,” said Erdogan, who earlier on Friday signed off on the Religious Affairs Directorate managing the site.

Read more …

 

 

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Jul 072020
 


Unknown No Dog Biscuits Today 1939

 

China’s Yuan Policy Has Made Hong Kong Redundant (Nikkei)
China Shares Rally, Asian Stocks Take A Breather (R.)
New Security Law Starts To Break Down Hong Kong’s Pro-Democracy Economy (R.)
TikTok Says It Will Exit Hong Kong Market Within Days (R.)
China Slams US As It Joins Global Arms Trade Treaty At UN (R.)
US Restrictions Drove Deutsche Telekom And Huawei Closer Together (Pol.eu)
US To Force Out Foreign Students Taking Classes Fully Online (R.)
South Korean COVID-19 patient Recovering After Double Lung Transplant (R.)
Hospitalizations Jump 50% In California As Coronavirus Infections Soar (R.)
Six Week Lockdown For Melbourne As Record 191 New Cases Reported (Conv.)
Brazil’s Bolsonaro Says Lungs ‘Clean’ After Coronavirus Test (R.)
US Supreme Court Curbs ‘Faithless Electors’ In Presidential Voting (R.)
California Short on Firefighters as Prison “Slaves” Under Lockdown (MPN)
Assange Lawyer Named French Justice Minister (AAP)

 

 

And all of a sudden (well, not that sudden) there’s so much stuff about China. I started off today reading an article in Nikkei entitled “China’s Yuan Policy Has Made Hong Kong Redundant”, and I thought: that is absolute nonsense. The idea seems to be that Shanghai would take Hong Kong’s place, as the renminbi (yuan) turns into a global currency.

That’s just wishful thinking. Or maybe a reaction to America’s new attitude towards China. The main sticking point for Beijing is a conundrum it cannot solve. The CCP wants to have BOTH a global currency AND total control over that currency. It will have to choose between the two, and cannot make up its mind. So it pretends it does’t have to choose.

Sure, there has been some advancement for the yuan, but I bet most of that is on the back of the Belt and Road (BRI), and that will turn out to be one of the main victims of the coronavirus. The BRI is China’s very clever way of exporting its overproduction, but potential buyers have other things on their mind today.

Meanwhile, even with that, the yuan is used in only 1.8% of cross-currency payments. So the claim that the yuan is used in 30% of China’s trade needs to be taken with a huge salt shaker.

And yes, it may be true that the yuan is now the sixth most used currency in international payments, but that’s only because there is no competition for the USD, and what competition does exist come from the euro.

The sudden, and rushed, take-over of Hong Kong with the new security law will not help China’s plans to be accepted internationally. US big tech is withdrawing, and even some Chinese tech is moving away.

The world’s large investors will not put their money into something that Xi Jinping can declare devalued by 50% on a rainy morning when he sees fit. He will have to cede that kind of control.

And reading through all this, why am I getting the feeling that China does not feel well, that its leaders perhaps have fallen victim to bouts of insecurity?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“You can tell someone’s case for the mythical global yuan is not serious when they write “the yuan is now the sixth most used currency in international payments” rather than “the yuan accounts for about 1.8% of cross-currency payments..”

China’s Yuan Policy Has Made Hong Kong Redundant (Nikkei)

Many have claimed that the national security law China has imposed on Hong Kong will be the death of the city, stifling free speech and driving away businesses. But 10 years ago, China made Hong Kong part of a plan which, even more certainly than the national security law, is rendering the city redundant. For years, Hong Kong has been the entrepot for China’s trade in the region — it accounts for 6.3% of China’s total trade — and a leading international financial center. It has provided the infrastructure for the West to invest in mainland China: about two-thirds of foreign direct investment into and from there goes through Hong Kong.

In 2010, China made Hong Kong a critical component of its policy aimed at developing the yuan as an international currency that non-Chinese residents could hold as an asset or use to pay for international transactions. Before 2010, the yuan had almost no international use or circulation, with less than 1% of China’s trade settled in it. The Chinese monetary authorities had to balance the need to have an international currency and the risk of allowing capital to flow freely in and out of the domestic market. In principle, international currencies need to be fully convertible, but for China this was not a viable route.

Hong Kong’s “one country, two systems” principle provided the solution to China’s conundrum and has been pivotal to the emergence of yuan-led finance, underpinning rising demand and facilitating the yuan business. Hong Kong’s judicial institutions, independent from mainland China, were at the heart of its role as a bridge between the Chinese planned economy and the Western market economy. The move worked, and although the international use of the Chinese currency remains limited, it has undergone significant growth. The yuan is now the sixth most used currency in international payments and is used for settling approximately 30% of China’s trade. Yuan-denominated financial instruments are used more in projects that are part of China’s Belt and Road Initiative.

Yuan activities now account for a large chunk of Hong Kong’s trading as an international financial center, according to estimates by market participants. But rather than making Hong Kong stronger, this increases its dependence on Beijing — and hence its vulnerability. By becoming part of the yuan strategy, a policy-led initiative where Chinese policy makers set the pace and guide the market, Hong Kong has been following Beijing’s lead. A bigger, but related, problem for Hong Kong is that by strengthening the yuan trade, it is also strengthening one of its mainland rivals and making itself less important. Around the time it launched its yuan policy, China also put in place a plan to develop Shanghai as its top international financial center by 2020. According to the latest Global Financial Centres Index, Hong Kong at sixth now ranks lower than Shanghai at fourth. Ten years ago Hong Kong was the most important financial center in Asia and in third place globally after London and New York, while Shanghai ranked 11th.

Read more …

Just yesterday, Beijing talked about “fostering a healthy bull market”. And what the Fed can do, the PBOC can too. Buy buy buy.

China Shares Rally, Asian Stocks Take A Breather (R.)

The Chinese share market extended its positive run on Tuesday, in line with the mainland government’s push for a stronger market, while the rest of the region turned cautious on equities. MSCI’s broadest index of Asia-Pacific shares outside Japan see-sawed during the local session and was down 0.2%, after it briefly traded in positive territory. The negative performance on Tuesday came after the index rose 7% which took it to a 4-1/2 month high in the past five trading sessions. Japan’s Nikkei gave up 0.7% while U.S. stock futures shed 0.25% in Asia after hefty gains on Monday in the wake of surging Chinese shares.

In China, Shanghai’s blue chip CSI300 index and Shenzhen shares, which had gained more than 13% in the past five sessions, rose a further 1.5%, led by rises in the tech sector. Ample Finance Group director Alex Wong said while Chinese market sentiment was positive, investors remained cautious to the risk of that being short-lived. “The mood is still quite strong…and I think people will be willing to hold on for a while as we absorb some of the positive news in the world,” Wong told Reuters in Hong Kong. Analysts said jawboning by the Chinese government through a state-sponsored journal on the importance of “fostering a healthy bull market” published on Monday had spurred the buying binge in mainland Chinese shares.

The current China rally has echoes of the past, especially during 2007 and in the buying binge that followed the crash in 2015 that was largely driven by Chinese retail investors. “Shades of John F. Kennedy’s ‘Ask not what your country can do for you’ inauguration speech here and as close as you might get to a Chinese government ‘put’ as anything the Fed has done to date vis-à-vis the U.S. stock (and credit) markets,” said Ray Attrill, head of FX strategy at NAB, in a research note.

Read more …

The rich can leave if they want to. The rest cannot.

New Security Law Starts To Break Down Hong Kong’s Pro-Democracy Economy (R.)

As soon as Hong Kong’s new national security law came into force last week, Ivan Ng removed all the protest-themed paintings, posters and flags from the list of items for sale at his Onestep Printing shop. Sandra Leung at Wefund.hk, which sells protest-themed artwork and accessories, said she has suspended sales of protective gear worn by protesters, flags with the slogan “Liberate Hong Kong,” and other items carrying popular chants. Jeffrey Cheong, owner of Hair Guys Salon, said he closed his shop down for a few days last week to remove pro-democracy decorations. Ng, Leung and Cheong are three of the 4,500 or so small businesses in Hong Kong’s “yellow economy,” which supports pro-democracy protesters and vice versa. That circle of support is showing signs of weakening in the face of the new law.

“We took down all the protest-related products right after the law was implemented, because the law doesn’t have very clear boundaries of (what constitutes) subversion,” Ng said. In the past week, he said his overall sales are down as much as 80%. Leung said she had withdrawn items for sale she described as “sensitive,” such as gas masks used by protesters and items with anti-police slogans. The new law prohibits what China describes broadly as secession, subversion, terrorism and collusion with foreign forces, with up to life in prison for offenders. It came into force late last Tuesday, about an hour before the 23rd anniversary of China taking back control of the former British colony.

The Hong Kong government went further on Friday, declaring the popular protest slogan “Liberate Hong Kong! Revolution of our times” illegal. Public libraries have started to review books written by pro-democracy activists to see whether they violate the new law. Hong Kong and Beijing authorities insist the city retains a “high degree of autonomy” but critics say the law effectively brings Hong Kong under the control of China’s Communist Party and violates China’s promise to safeguard Hong Kong’s freedom for 50 years after the 1997 handover. Some businesses told local media they had been visited by the police who warned them that pro-democracy decorations were against the new law.

Read more …

Which side of The Great Firewall do you want to be on?

TikTok Says It Will Exit Hong Kong Market Within Days (R.)

TikTok will exit the Hong Kong market within days, a spokesman told Reuters late on Monday, as other technology companies including Facebook suspend processing government requests for user data in the region. The short form video app owned by China-based ByteDance has made the decision to exit the region following China’s establishment of a sweeping new national security law for the semi-autonomous city. “In light of recent events, we’ve decided to stop operations of the TikTok app in Hong Kong,” a TikTok spokesman said in response to a Reuters question about its commitment to the market. The company, now run by former Walt Disney Co executive Kevin Mayer, has said in the past that the app’s user data is not stored in China.


TikTok has also said previously that it would not comply with any requests made by the Chinese government to censor content or for access to TikTok’s user data, nor has it ever been asked to do so. The Hong Kong region is a small, loss-making market for the company, one source familiar with the matter said. Last August, TikTok reported it had attracted 150,000 users in Hong Kong. Globally, TikTok has been downloaded more than 2 billion times through the Apple and Google app stores after the first quarter this year, according to analytics firm Sensor Tower. The source said the move was made because it was not clear if Hong Kong would now fall entirely under Beijing’s jurisdiction in light of the new law.

Read more …

Easy pickings.

China Slams US As It Joins Global Arms Trade Treaty At UN (R.)

China on Monday joined a global arms trade treaty spurned by the United States, taking a swipe at U.S. President Donald Trump’s administration by accusing it of bullying, unilateralism and undermining efforts to combat global challenges. China’s U.N. ambassador, Zhang Jun, said he had deposited China’s instrument of accession to the treaty, which regulates a $70 billion global cross-border trade in conventional arms and seeks to keep weapons out of the hands of human rights abusers. China, which announced its plans in September, becomes the 107th party to the pact, approved by the U.N. General Assembly in 2013. Then-U.S. President Barack Obama signed it, but it was opposed by the National Rifle Association and never ratified by the U.S. Senate.


Trump said in April last year that he intended to revoke the status of the United States as a signatory. In July 2019, the United States told U.N. Secretary-General Antonio Guterres that Washington did not intend to become a party to the treaty and that it had no legal obligations from its 2013 signature. Without naming the United States, but amid escalating tensions between Beijing and Washington, Zhang said in a statement that a “certain country … walked away from international commitments, and launched acts of unilateralism and bullying.” [..] China was the fifth-largest global arms exporter between 2014 and 2018, according to the Stockholm International Peace Research Institute, although China itself does not publish figures for how many arms it exports.

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A comment on Twitter about an article in German in Handelsblatt:

”Deutsche Telekom has doubled down on Huawei even as concerns rose, including discussions w/Chinese firm about how to get around US sanctions & “tactical” announcements to get T-Mobile/Sprint deal in US approved..”

US Restrictions Drove Deutsche Telekom And Huawei Closer Together (Pol.eu)

Global telecoms giant Deutsche Telekom strengthened its strategic partnership with Huawei last year despite growing defiance toward the dominant Chinese 5G vendor, documents reviewed by POLITICO show. The internal company records describe how Deutsche Telekom and Huawei agreed on a deal in mid-2019 that said the Chinese supplier would take measures to avoid supply chain disruption caused by U.S. measures, as well as cover the costs of potential damages and delays. The deal was struck just weeks before the U.S. administration imposed restrictions on businesses dealing with the Chinese firm in May 2019 — a milestone for Washington’s efforts to push back against Huawei’s dominance on 5G equipment.

It laid the groundwork for a partnership between the two companies for the early rollout of 5G networks in Europe, despite national lawmakers’ efforts in key markets like Germany, the Netherlands and Poland to reduce the use of Chinese equipment. In the months after the deal, the companies underlined mutual commitments to treat each other in preferential ways. Deutsche Telekom executives described Huawei repeatedly as a “strategic partner” that is “key for our 5G plans,” according to the internal documents. On Huawei’s end, Deutsche Telekom was described as a “preferred customer” for its 5G equipment. Deutsche Telekom has repeatedly declined in the past to disclose how much of its networks consist of Huawei equipment.

But in its internal communication, it has likened the scenario of not being able to use Huawei in its broader 5G rollout to “armageddon,” a recent report in German paper Handelsblatt showed. [..] At the core of the mutual agreement is a commitment by Huawei to shoulder the burdens and costs of the U.S. restrictions that have bogged down the Chinese vendor in the past year. “This pledge by Huawei to pay for any disruption adds to that incentive to stick with Huawei,” said Thorsten Benner, director of the Berlin-based Global Public Policy Institute, calling it a “care-free package” offered to Deutsche Telekom.

Read more …

Targeting China once more?!

US To Force Out Foreign Students Taking Classes Fully Online (R.)

Foreign students must leave the United States if their school’s classes this fall will be taught completely online or transfer to another school with in-person instruction, the U.S. Immigration and Customs Enforcement (ICE) agency announced on Monday. It was not immediately clear how many student visa holders would be affected by the move, but foreign students are a key source of revenue for many U.S. universities as they often pay full tuition. ICE said it would not allow holders of student visas to remain in the country if their school was fully online for the fall. Those students must transfer or leave the country, or they potentially face deportation proceedings, according to the announcement.


Colleges and universities have begun to announce plans for the fall 2020 semester amid the continued coronavirus pandemic. Harvard University on Monday announced it would conduct course instruction online for the 2020-2021 academic year. The ICE guidance applies to holders of F-1 and M-1 visas, which are for academic and vocational students. The State Department issued 388,839 F visas and 9,518 M visas in fiscal 2019, according to the agency’s data. The guidance does not affect students taking classes in person. It also does not affect F-1 students taking a partial online course-load, as long as their university certifies the student’s instruction is not completely digital. M-1 vocational program students and F-1 English language training program students will not be allowed to take any classes online.

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Pretty amazing story. But scary too.

South Korean COVID-19 patient Recovering After Double Lung Transplant (R.)

After a record 112 days on a specialised life-support system, a South Korean COVID-19 patient is recovering from double lung transplant surgery, doctors say, in only the ninth such procedure worldwide since the coronavirus outbreak began. The 50-year-old woman was diagnosed with the disease and hospitalised in late February and then spent 16 weeks on extracorporeal membrane oxygenation (ECMO) support, which involves circulating a patient’s blood through a machine that adds oxygen to red blood cells. That’s the longest that any COVID-19 patient in the world has spent on ECMO support, her doctors said.

Various drugs such as the anti-malarial hydroxychloroquine, the HIV treatment Kaletra and steroids failed to stop her pulmonary fibrosis – scarring in the lungs – from worsening, said Dr Park Sung-hoon, professor of pulmonary and critical care medicine at Hallym University Sacred Heart Hospital. That left few options other than a lung transplant. “The probability of success in lung transplants on ECMO patients is 50%, and fortunately, our patient was well prepared before the surgery when we found the donor,” said Dr Kim Hyoung-soo, director of the hospital’s ECMO programme, who was in charge of the surgery.

The patient declined to be identified or interviewed. The doctors who conducted the eight-hour surgery described her destroyed lungs as hard like rock. She had an acute respiratory distress syndrome (ARDS) when she came to hospital, Park said, and could not live without the ECMO machine’s help. ECMO is typically used on patients who need more help than ventilators can provide, and who are considered to have a 90% chance of dying. Half of patients recover in two to three weeks on ECMO, and a lung transplant is considered for those who don’t, Kim said.

Read more …

Stay home.

Hospitalizations Jump 50% In California As Coronavirus Infections Soar (R.)

New coronavirus cases soared in California over the July Fourth weekend, stressing some hospital systems and leading to the temporary closure of the state capitol building in Sacramento for deep cleaning, officials said on Monday. The number of people hospitalized with COVID-19 has increased by 50% over the past two weeks to about 5,800, Governor Gavin Newsom said at a briefing. About a third of those hospitalized were in Los Angeles County, state and local records showed, with about 630 confirmed and suspected coronavirus patients requiring intensive care. And 25% of the hospitalizations in the county in July were among patients aged 18 to 40, health officials said, as new cases increasingly hit a younger population that may have been lax about safety precautions in recent weeks.


Farther north, nearly 1,400 inmates at San Quentin State Prison have been sickened by the virus, putting pressure on hospitals in Marin County, where the facility is located, Newsom said. All told, 271,684 Californians have tested positive for the virus, including 11,529 in the past 24 hours, state records show. About 6,300 have died. Determined to slow the spread of the disease over the holiday weekend, state alcohol regulators visited nearly 6,000 bars and restaurants to make sure they were complying with new rules banning indoor dining and closing bars that do not serve food, Newsom said.

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Turns out the 2nd wave concerns lockdowns.

Six Week Lockdown For Melbourne As Record 191 New Cases Reported (Conv.)

The Victorian government will lock down all metropolitan Melbourne for six weeks from Wednesday night, as a new wave of the coronavirus takes hold in the city. The lockdown will also cover the Mitchell Shire, north of Melbourne, which includes the towns of Broadford, Seymour, Kilmore, Tallarook, Pyalong and Wallan. Under the restrictions, people will only be able to leave their home to shop for essential goods and services, for care and compassionate reasons, exercise, and for work and study if it cannot be conducted from home. The dramatic action comes as the Victoria-NSW border closes on Tuesday night, amid some chaos in Albury-Wodonga, and follows the lockdown of suburbs in 12 Melbourne postcode areas, and the “lock in” of 3,000 residents in nine community housing towers.

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Brazilian media reports he tested positive.

Brazil’s Bolsonaro Says Lungs ‘Clean’ After Coronavirus Test (R.)

Brazilian President Jair Bolsonaro said on Monday he had undergone another test for the novel coronavirus and his lungs were “clean,” after local media reported he had symptoms associated with the COVID-19 respiratory disease. Bolsonaro has repeatedly played down the impact of the virus, even as Brazil has suffered one of the world’s worst outbreaks, with more than 1.6 million confirmed cases and 65,000 related deaths, according to official data on Monday. CNN Brasil and newspaper Estado de S.Paulo reported that he had symptoms of the disease, such as a fever. Bolsonaro told supporters outside the presidential palace that he had just visited the hospital and been tested.


“I can’t get very close,” he said in comments recorded by Foco do Brasil, a pro-government YouTube channel. “I came from the hospital. I underwent a lung scan. The lung’s clean.” The president’s office said in a statement that the president is at his home and is “in good health.” [..] Over the weekend, Bolsonaro attended several events and was in close contact with the U.S. ambassador to Brazil during July 4 celebrations. The U.S. embassy in Brasilia said via Twitter that Todd Chapman, the ambassador, had lunch on July 4 with Bolsonaro, five ministers and Bolsonaro’s son, Eduardo, who is a federal congressman. The ambassador has no symptoms, but will undergo testing and is “taking precautions,” the embassy said.

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The Electoral College still exists because some people think it’s in their advantage.

US Supreme Court Curbs ‘Faithless Electors’ In Presidential Voting (R.)

The U.S. Supreme Court on Monday refused to free “faithless electors” in the complex Electoral College system that decides the outcome of presidential elections from state laws that force them to support the candidate who wins the state’s popular vote. The justices unanimously rejected the idea that electors, who act on behalf of a state in the Electoral College vote that occurs weeks after voters go the polls, can exercise discretion in the candidate they back. The decision erased a potential complicating factor in the Electoral College as President Donald Trump seeks re-election on Nov. 3 against Democratic challenger Joe Biden. The court sided with Washington state and Colorado, which had imposed penalties on several “faithless electors” – so named because they defied pledges in 2016 to vote for the winner of their states’ popular vote, Democrat Hillary Clinton.


Washington state Attorney General Bob Ferguson said the ruling “reaffirmed the fundamental principle that the vote of the people should matter in choosing the president.” State officials have said faithless electors threaten the integrity of American democracy by subverting the will of the electorate and opening the door to corruption. The plaintiffs had argued that the Constitution requires them to exercise independent judgment to prevent unfit candidates from taking office. “The Constitution’s text and the nation’s history both support allowing a state to enforce an elector’s pledge to support his party’s nominee – and the state voters’ choice – for President,” liberal Justice Elena Kagan wrote on behalf of the court.

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Only in America.

California Short on Firefighters as Prison “Slaves” Under Lockdown (MPN)

It is the height of California’s dangerous forest fire season. But despite blazes currently raging, the state’s fire department is dangerously understaffed. That is because many firefighters today are not the burly full time professionals of another era, but underpaid convict laborers risking their lives for pennies. Almost 40 percent of California’s firefighters are prisoners. But the state’s penitentiaries are themselves ablaze with COVID-19 outbreaks, leading to widespread lockdowns in what has become a routine for American’s dealing with competing crises. Jails have been among the deadliest hotspots for transmission of the coronavirus. At the notorious San Quentin State Prison just north of San Francisco, there are nearly 1,400 active cases.

Meanwhile, the state has announced the deaths from COVID-19 of 16 inmates at the California Institute for Men in Chino, San Bernardino County. In response to the crisis, prison authorities have enacted strict lockdowns, including at CCC Susanville, the home of the wildfire training program, where there are 224 confirmed active cases of the virus. This is severely hampering the fight against wildfires. Approximately 3,100 inmates work with the fire department tackling blazes, around 2,200 in the front line, and 900 in support roles. Only those with the least serious convictions are considered. Prisoners are paid between $2.90 and $5.12 per day (less than the average income of a sweatshop laborer in Nicaragua), plus $1 per hour of hazard pay during active emergency situations like the deadly fires that engulfed the state late last year.

They work alongside full-time firefighters making an average of $91,000 per year before overtime pay and bonuses but tend to do the harder, less desirable, or more dangerous tasks, leading to multiple deaths in recent years. This has led to widespread condemnation of the practice as akin to “modern slavery,” especially because inmates are effectively barred from even applying to the fire department once their sentences are over. In order to become a firefighter, an emergency medical technician license is required, something that is all but impossible to achieve with a criminal record. Despite this, prisoners still “volunteer” as the work is far more fulfilling than the alternative: more time locked up.

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“Eric Dupond-Moretti has been appointed as French Justice Minister. Earlier this year, he launched a campaign to grant the Australian asylum in France.”

Assange Lawyer Named French Justice Minister (AAP)

WikiLeaks founder Julian Assange’s lawyer Eric Dupond-Moretti has been appointed as France’s new justice minister. Dupond-Moretti, a prominent criminal defence lawyer, was elevated to the ministry by incoming Prime Minister Jean Castex on Monday. The 55-year-old is known for a his record number of acquittals and led a push by European lawyers for French President Emmanuel Macron to grant asylum to Assange in February. “We consider the situation is sufficiently serious that our duty is to talk about it,” Dupond-Moretti said about Assange’s case at the time.


The Frenchman has said the case against the Australian is unfair, citing Assange’s poor health and alleged violations of his rights while in jail in London Dupond-Moretti’s team also warned of “consequences for all journalists” if Assange is extradited and jailed in the US. French members of Assange’s legal team said they had been working on a “concrete demand” for Macron to grant Assange asylum in France, where he has children. It’s unclear whether Dupond-Moretti will now use his position to grant the Australian asylum.

Read more …

 

 

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Jul 062020
 


Dorothea Lange White Angel Breadline San Francisco 1933

 

100s Of Scientists Say Coronavirus Airborne, Ask For WHO Review (R.)
Australia Closes State Border For First Time In 100 Years (R.)
Time For China To Decouple The Yuan From US Dollar (SCMP)
Susan Rice Sees Stock Rise In Biden VP Race (Hill)
Susan Rice: Trump Picks Putin Over US Troops (Hill)
Schiff Learned Of Russian ‘Bounty’ Intel In February, Took No Action (Fed.)
Barr’s Team Startled In ‘First Chance’ To Assess Mueller Investigation (WE)
Nomi Prins: “We’re Living In A Permanent Distortion” (USAW)
Only Bold State Intervention Can Block A Future Owned By Corporate Giants (G.)
Prosecutors Seek Friday Court Appearance For Ghislaine Maxwell (R.)
Ohio Town Proclaims Itself A ‘Statue Sanctuary City’ (JTN)

 

 

New daily numbers are almost quiet. But now the weekend’s mostly over.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I had this yesterday via the Brussels Times, but now the NYT has picked it up. Much bigger news.

100s Of Scientists Say Coronavirus Airborne, Ask For WHO Review (R.)

Hundreds of scientists say there is evidence that the novel coronavirus in smaller particles in the air can infect people and are calling for the World Health Organization to revise recommendations, the New York Times reported on Saturday. The WHO has said the coronavirus disease spreads primarily from person to person through small droplets from the nose or mouth, which are expelled when a person with COVID-19 coughs, sneezes or speaks. In an open letter to the agency, which the researchers plan to publish in a scientific journal next week, 239 scientists in 32 countries outlined the evidence showing smaller particles can infect people, the NYT said. “We are aware of the article and are reviewing its contents with our technical experts,” WHO spokesman Tarik Jasarevic said in an email reply to a Reuters request for comment.


Whether carried by large droplets that zoom through the air after a sneeze, or by much smaller exhaled droplets that may glide the length of a room, the coronavirus is borne through air and can infect people when inhaled, the scientists said, according to the NYT. However, the health agency said the evidence for the virus being airborne was not convincing, according to the NYT. “Especially in the last couple of months, we have been stating several times that we consider airborne transmission as possible but certainly not supported by solid or even clear evidence,” Dr. Benedetta Allegranzi, the WHO’s technical lead of infection prevention and control, was quoted as saying by the NYT.

Read more …

Drones to track down people trying to swim across.

Australia Closes State Border For First Time In 100 Years (R.)

The border between Australia’s two most populous states will close from Tuesday for an indefinite period as authorities scramble to contain an outbreak of the coronavirus in the city of Melbourne. The decision announced on Monday marks the first time the border between Victoria and New South Wales has been shut in 100 years. Officials last blocked movement between the two states in 1919 during the Spanish flu pandemic. “It is the smart call, the right call at this time, given the significant challenges we face in containing this virus,” Victoria Premier Daniel Andrews told reporters in Melbourne. The move will, however, likely be a blow to Australia’s economic recovery as it heads into its first recession in nearly three decades.


The number of COVID-19 cases in the Victorian capital of Melbourne has surged in recent days, prompting authorities to enforce strict social-distancing orders in 30 suburbs and put nine public housing towers into complete lockdown. The state reported 127 new COVID-19 infections overnight, its biggest one-day spike since the pandemic began. It also reported two deaths, the first nationally in more than two weeks, taking the national tally to 106. NSW Premier Gladys Berejiklian said there was no timetable for reopening the border, which will be patrolled by the military to prevent illegal crossings from 11.59 p.m. local time on Tuesday. The state line is highly porous, with 55 roads, wilderness parks and rivers. Some businesses straddle both sides and several workers, and school children, commute daily.

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We keep on returning to the same mega problem for China: nobody wants the yuan. Can they force-feed it to enough parties?

Time For China To Decouple The Yuan From US Dollar (SCMP)

China must brace for a full-blown escalation of the struggle with the United States and prepare to gradually decouple the Chinese yuan from the US dollar, a former senior Chinese diplomat warned amid the continued downward spiral in relations between the world’s two largest economies. Zhou Li, a former deputy director of the Communist Party’s International Liaison Department – which manages relations with foreign political parties, organisations and elites – is the latest in a series of voices in China calling for the country to be ready for a currency split with the US amid growing signs of financial war in recent weeks.

“By taking advantage of the dollar’s global monopoly position in the financial sector, the US will pose an increasingly severe threat to China’s further development,” Zhou wrote in the full version of an article published on Saturday by the Beijing-based think tank Chongyang Institute for Financial Studies at Renmin University. China should now make preparations to insulate itself from “dollar hegemony and gradually achieve the decoupling of the renminbi from the US currency”, Zhou said. “The US dollar could become a major risk issue that ‘has us by the throat’.” Zhou’s comments come as Washington is set to impose new sanctions on Chinese officials and financial firms for their part in the new national security law for Hong Kong.

The Hong Kong Autonomy Act, passed by Congress last week, requires the administration to punish foreign banks if they continue to do business with sanctioned officials, including possibly denying them access to the global US dollar payment system. His remarks also mirrored a growing consensus in Beijing that China should “give up the illusion” of friendship but instead prepare for a full-fledged conflict with the US. [..] China holds more than US$2 trillion in overseas investments, the vast majority in developed countries and denominated in US dollars. China also holds US$1.07 trillion in US Treasury securities as part of its US$3 trillion foreign exchange reserves.

China must accelerate the internationalisation of the yuan, speed up the increase in cross-border payments and clearing arrangements for the yuan, establish local currency settlement mechanisms with more countries, and create conditions to maximise the use of the Chinese currency in global industrial supply chains, Zhou said. His views echoed a call by Fang Xinghai, a vice-chairman of the China Securities Regulatory Commission, who warned in a recent speech that China must make urgent preparations for being cut off from the US dollar payment system. “Yuan internationalisation is a must to offset external financial pressure,” Fang said.

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How to keep some focus on Biden while he’s hiding? Daily tidbits about VP candidates.

Susan Rice Sees Stock Rise In Biden VP Race (Hill)

Sens. Kamala Harris (D-Calif.) and Elizabeth Warren (D-Mass.) are getting most of the buzz, but former U.S. Ambassador to the United Nations Susan Rice is also getting a lot of attention in Joe Biden’s campaign as he considers who to pick as his running mate, sources say. Rice, who also served as former President Obama’s national security adviser, has seen her stock rise amid a series of crises, including the COVID-19 pandemic. “I know she’s very much in the mix,” a source close to the Biden campaign said. One factor to watch is Biden’s relationship with Rice. The two worked closely in the Obama administration, and personal chemistry is an underrated factor in vice presidential decisions.

“I know they have a good relationship — perhaps the best relationship of anyone on the list,” the source close to the Biden campaign said. “They’ve known each other for years, they’ve worked alongside each other and she’s been tested in a way that a lot of folks on the list just haven’t been.” Biden, who has committed to selecting a woman as his running mate, has said repeatedly that he is looking for someone who is “ready to be president on day one.” He is also under pressure by some Democrats to pick a woman of color after the death of George Floyd and the demonstrations that followed urging an end to systemic racism. Harris has widely been seen as the favorite, but sources said Rice should not be counted out.

“Everyone automatically thinks of Kamala when they think he needs to pick a woman of color. It’s become conventional wisdom,” said a source who worked in the Obama administration alongside Biden and Rice. “But if you look at Susan’s credentials, she makes perfect sense. She’s a rock star who has the confidence, stature and gravitas to be vice president.”

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And then put people like Rice out on TV shows, to test how people respond to her, and to create the illusion that there’s activity going on. If she can throw some outrageous claims out there, all the better.

Susan Rice: Trump Picks Putin Over US Troops (Hill)

Former U.S. Ambassador to the United Nations Susan Rice said Sunday that President Trump picks Russian President Vladimir Putin over U.S. troops “even when it comes to the blood of American service members.” Rice, who also served as former President Obama’s national security adviser, told NBC’s “Meet the Press” that she believes Trump was briefed on the intelligence that Russia was offering bounties to Taliban-linked militants to kill U.S. and coalition service members in Afghanistan. “The message to Vladimir Putin is you can kill American servicemen and women with absolute impunity,” she said. “This is an extraordinary revelation. The president of the United States has demonstrated absolutely callous disregard for the safety and security of American forces in a war zone and there’s no explanation for this.”


“Now we learn that even when it comes to the blood of American service members, this president picks Putin over our troops,” she added. The former national security adviser said intelligence is “very, very rarely” proven with “100 percent certainty” after administration officials have claimed the intelligence was contradictory. She said if advisers did not inform Trump of the intelligence last year, she thinks it would be “because they’re scared of him.” Rice, a possible contender for presumptive Democratic nominee Joe Biden’s vice presidential pick, also cited that “everything [Trump] has done since” his denial of the intelligence community’s findings of Russian interference in the 2016 election, has benefited Russia.

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But can Rice really accuse Trump of risking US troops’ lives, while that angle has been largely discredited and Adam Schiff’s role has not?

Schiff Learned Of Russian ‘Bounty’ Intel In February, Took No Action (Fed.)

Top committee staff for Rep. Adam Schiff (D-Calif.), the chairman of the House Permanent Select Committee on Intelligence, were briefed in February on intelligence about Russia offering the Taliban bounties in Afghanistan, but he took no action in response to the briefing, multiple intelligence sources familiar with the briefing told The Federalist. The intelligence was briefed to Schiff’s staff during a congressional delegation, or CODEL, trip to Afghanistan in February. Schiff, who has acknowledged President Donald Trump was never briefed on the so-called intelligence, has thus far refused to disclose that his staff was personally briefed. The revelation raises serious questions that Schiff is once again politicizing, and perhaps even deliberately misrepresenting, key data for partisan gain.


Asked by a reporter Tuesday if he had any knowledge of the Russia story prior to the New York Times report, Schiff said “I can’t comment on specifics.” Schiff’s recent complaints that Trump took no action against Russia in response to rumors of Russian bounties are curious given that Schiff himself took no action after his top staff were briefed by intelligence officials. As chairman of the intelligence committee, Schiff had the authority to immediately brief the full committee and convene hearings on the matter. Schiff, however, did nothing. He did not brief his committee on the matter, nor did he brief the gang of 8, which consists of top congressional leadership in both chambers.

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Adam Schiff on Bob Mueller.

Barr’s Team Startled In ‘First Chance’ To Assess Mueller Investigation (WE)

Attorney General William Barr’s team was in for a shock when it met with special counsel Robert Mueller before his report was released, according to a forthcoming book. CNN legal analyst Jeffrey Toobin wrote about Barr’s “first chance” to assess the Russia investigation in early March 2019 in True Crimes and Misdemeanors: The Investigation of Donald Trump, an excerpt of which was published last week by the New Yorker. He described a “fairly relaxed session” in which Mueller “gave a brief introduction” to Barr and his staff, who later reflected on how the former FBI director didn’t live up to expectations.

“Later, Barr’s team noted that Mueller looked tired and old. Because Mueller had been the focus of so much public attention for nearly two years and said so little in public, he had taken on an almost mythic status, even among people who once knew him well, like Barr. To see him after this exhausting enterprise was startling. He was an old seventy-four,” Toobin wrote in the book that is set for release in August. They weren’t the only ones.

One prominent Democrat, House Intelligence Committee Chairman Adam Schiff, said in a recent podcast that he was surprised by Mueller’s shaky testimony before the House Judiciary and Intelligence committees in July 2019 after his report was released. The California Democrat agreed when asked whether he was “shocked” during a Daily Beast podcast last month. “I have known Bob Mueller for a long time. I have tremendous respect for him. I think he is just an amazing human being and public servant,” Schiff said. “He was not the man that I knew just in terms of his strength of presence, and so, it was quite surprising.

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“We are not going to pay back this debt, and this is global. Nobody is even considering trying to pay back the debt..”

Nomi Prins: “We’re Living In A Permanent Distortion” (USAW)

Three time best-selling book author Nomi Prins says long before the Covid 19 crisis, the global economy was faltering big time. The Fed stepped in with the start of massive money printing in late 2019 to save the day. Prins explains, “We were already in crisis mode as I mentioned at the end of my last book going into 2019.” What did we see at the end of 2019? We saw this pivot, and I call it phase two. . . . Central banks had pivoted to easing mode. . . . Come September, October, November and December, the Fed is producing repo operations. Those are short-term lending operations that are supposed to be the purview of the banks . . . . The Fed is not supposed to get involved, but it did. The Fed had all kinds of excuses. It said it was not QE, but it was. . . . The debt at the end of 2019 for the world was three times GDP. For every $3 borrowed, only $1 of economic activity occurred. That’s what we started 2020 with. Throw a pandemic into that . . . and you have a long drawn out financial and economic crisis.”

Now, the money printing has gone into overdrive to save the system from the virus crisis. The social and economic damage, according to Prins, is profound and not going away. Prins points out,

“We are not going to pay back this debt, and this is global. Nobody is even considering trying to pay back the debt that has been created. Let’s think about why that debt has been created. It’s not just because the economy slowed down. That’s one reason and kind of an excuse. The reality is the Fed is on steroids, and other central banks are on steroids . . . throughout the world in a larger number and larger magnitude than in the wake of the financial crisis of 2008. This means all this new debt created is even cheaper than the debt created going into the 2008 crisis. So, more debt, created more cheaply, means less incentive to pay it back and more incentive to push it down the road and grow it. You’ve got this snowball of debt rolling down this high mountain, and it’s rolling and growing and getting bigger. The mountain, which is the main street economy, is coming down as the snow ball is coming down, and the main street economy itself, that foundation, is really shaky. . . . How does this end? It ends with us, the foundation, which is the main street economy, by both that snowball of debt and the avalanche of the mountain. That’s going to be a multi-decade problem.”

Prins says this next stage has a brand new name and explains, “I call this a ‘Permanent Distortion.’ I have not used this term in prior books, but I am using it because . . . the disconnect between financial assets, equity markets and the real economy . . . has become massive…

Read more …

A state holding company modeled after Roosevelt’s Reconstruction Finance Corporation.

Only Bold State Intervention Can Block A Future Owned By Corporate Giants (G.)

Our economy after Covid-19 could turn out to be merely an uglier, more distorted version of the lopsided system we have today. We may find that we’ve stumbled into an “Amazon recovery”, where big businesses and corporate behemoths hold an even greater share of the market, billionaires get richer (and more numerous) and inequality is supercharged. Like a handful of other corporate giants, Amazon has seen its business expand during this crisis. In the US, the company took on 100,000 new workers between mid-March and mid-April, before looking to create another 75,000 posts. Its stock price has soared by more than 50% since the beginning of April, and Amazon’s founder, Jeff Bezos, has seen his wealth increase by $30bn (£24bn) during the pandemic alone. The global billionaire class have never had it so good.

The government must ensure the recovery works for everyone, not just for the richest. A large part of the answer lies in a move to block corporate consolidation and predatory acquisition, preventing the leveraged buyout of the economy. This could take the form of a state holding company, with a mandate to support struggling SMEs directly through the coronavirus era and to prevent the destruction of what remains of the UK’s local small-business sector. It would target businesses that were cash-positive before March and can be once again, when the crisis has passed. Later, where appropriate, this holding company could relaunch many of these rescued businesses under conditions of worker or community ownership, or as mission-driven social enterprises.

In this way, the holding company could become an important instrument in a green transition, building community wealth by supporting local economic activity. A democratic society can’t flourish under conditions of unrestrained inequality, and will be even more imperilled in an economy where wealth and power are further concentrated. The only alternative to an unjust recovery is to use state power to protect smaller firms and create a more democratic economy where ownership and economic rewards are more widely shared. History can be our guide here. A similar move lay at the heart of the US response to the economic crisis of the 1930s. Under Franklin D Roosevelt, the Reconstruction Finance Corporation, a state holding company, was permitted to acquire failing businesses until they could be relaunched during the recovery from the Great Depression. One of the engines of the New Deal, the RFC became not only the biggest bank in the US, but also the single largest investor in the country.

Read more …

Bail hearing. If she gets bail, that will be a very large scandal.

Prosecutors Seek Friday Court Appearance For Ghislaine Maxwell (R.)

Prosecutors have asked a judge to schedule a Friday court appearance in New York for Ghislaine Maxwell, the former girlfriend and longtime associate of the late disgraced financier Jeffrey Epstein. Maxwell was arrested on Thursday on U.S. charges of luring underage girls so that Epstein could sexually abuse them. The FBI arrest of the British socialite was the latest twist in the mystery of Epstein, who went from a high school math teacher to a high-flying lifestyle of private Caribbean islands and powerful connections that his victims say allowed him to abuse minors with impunity.


Maxwell, 58, was arrested in Bradford, New Hampshire, where she had been laying low since December, the FBI said last week. In a letter on Sunday to Judge Alison Nathan at the U.S. District Court for the Southern District of New York, acting United States Attorney Audrey Strauss said Maxwell’s defense lawyer, Christian Everdell, has requested a Friday, July 10, bail hearing. Maxwell is charged with four criminal counts related to procuring and transporting minors for illegal sex acts and two of perjury, according to the indictment by federal prosecutors in New York.

Read more …

One man’s misery is another man’s good fortune.

Ohio Town Proclaims Itself A ‘Statue Sanctuary City’ (JTN)

As protesters target statues around the nation, one town is becoming a statue sanctuary city for monuments honoring select figures. Newton Falls, Ohio City Manager David M. Lynch has signed a proclamation that states that the city will accept and display spurned statues of people including George Washington, Abraham Lincoln, and certain other prominent figures.


“A Proclamation declaring that Newton Falls is a Statuary Sanctuary City and declaring a general amnesty for George Washington, Abraham Lincoln, Thomas Jefferson, Ulysses S. Grant, Patrick Henry, Francis Scott Key, Theodore Roosevelt and Christopher Columbus as represented by the statues of these great leaders, and volunteering to accept these statues that have been removed throughout the USA and place them in a location of honor in our community,” the proclamation says, according to a copy posted by 21-WFMJ. “They founded our nation, they ended slavery, and established and protected our national parks,” Lynch said, according to Fox 8. “Yes, they had warts but they laid the foundation for what we have today,” he said.

Read more …

 

 

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Assange. Don’t miss.

 

 

 

This is brilliant. Who on earth made this happen?

 

 

 

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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

 

 

 

 

Support the Automatic Earth in virustime.

 

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.”

https://twitter.com/SomersetBean/status/1276063923641282560

Read more …

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.”

Read more …

 

 

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Frederick Douglass about Abaham Lincoln:

 

 

 

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Jun 242020
 
 June 24, 2020  Posted by at 12:09 pm Finance Tagged with: , , , , , , , , , ,  34 Responses »


Dorothea Lange Arkansas flood refugee family near Memphis, Texas 1937

 

80% of COVID19 Cases In The US Went Undetected In March (CNN)
What the US Stock Market Looks Like Minus APPL, MSFT, AMZN, GOOG, FB (WS)
Putin Reviews Military Parade On Eve Of Vote That Could Extend His Rule (R.)
‘The Skripal Case And The Decline Of Russia’s Spy Agencies (G.)
Johnson And May Ignored Claims Russia Had ‘Likely Hold’ Over Trump (G.)
Siberia Is On Fire And Off The Charts (Canary)
Bayer Pays $10 Billion To Settle Thousands Of Monsanto Glyphosate Lawsuits (ZH)

 

 

It’s still a bit of a battle to get started again, as you can see, but we’ll get there. All day yesterday for instance my head was much more occupied with the banning of Mark Twain and Harper Lee than with corona. But I already wrote about To KIll A Mockingbird.

 

 

Worldometer reports new cases for June 23 (midnight to midnight GMT+0) at + 162,994 .

 

 

As Texas, where our resident GP is located, continues to surge:

 

 

 

 

 

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

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

 

 

But how about now?

80% of COVID19 Cases In The US Went Undetected In March (CNN)

A new study suggests that as many as 8.7 million Americans came down with coronavirus in March, but more than 80% of them were never diagnosed. A team of researchers looked at the number of people who went to doctors or clinics with influenza-like illnesses that were never diagnosed as coronavirus, influenza or any of the other viruses that usually circulate in winter. There was a giant spike in these cases in March, the researchers reported in the journal Science Translational Medicine. “The findings support a scenario where more than 8.7 million new SARS-CoV-2 infections appeared in the U.S. during March and estimate that more than 80% of these cases remained unidentified as the outbreak rapidly spread,” Justin Silverman of Penn State University, Alex Washburne of Montana State University and colleagues at Cornell University and elsewhere, wrote.

Only 100,000 cases were officially reported during that time period, and the US still reports only 2.3 million cases as of Monday. But there was a shortage of coronavirus testing kits at the time. The team used data collected from each state by the US Centers for Disease Control and Prevention for influenza-like illness. The CDC uses this data to track the annual seasonal flu epidemic. It asks doctors to report all cases of people coming in for treatment for fever, cough and other symptoms caused by influenza. “We found a clear, anomalous surge in influenza-like illness (ILI) outpatients during the COVID-19 epidemic that correlated with the progression of the epidemic in multiple states across the US,” Silverman and colleagues wrote.

“The surge of non-influenza ILI outpatients was much larger than the number of confirmed cases in each state, providing evidence of large numbers of probable symptomatic COVID-19 cases that remained undetected.”

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Makes me think of playing Monopoly.

What the US Stock Market Looks Like Minus APPL, MSFT, AMZN, GOOG, FB (WS)

The market capitalization of the five largest stocks combined – the “Giant 5:” Apple, Microsoft, Amazon, Alphabet, and Facebook – rose to a new record today of $6.18 trillion. Since their combined low point on March 16, their market capitalization has soared by 51%. That’s an increase of $2.1 trillion in a little over three months. Since January 2017, my Giant 5 index has soared by 164% (market cap data via YCharts):

So how big did they get? The overall stock market capitalization, as measured by the Wilshire 5000 Market Cap Index tracking 3,451 US-listed companies, ticked up to $31.8 trillion, up by 41.6% from its low on March 23. Today, the “Giant 5” accounted for 19.4% of the total US stock market capitalization, as measured by the Wilshire 5000, a new record. On January 3, 2017, the Giant 5 had accounted for 10% of the Wilshire 5000. In the three months since the crash in March, the share of the Giant 5 has soared from abound 16% to 19.4% today (Wilshire 5000 data via YCharts):

Let’s take the five largest stocks out of the largest stock market in the world, with 3,451 companies, and see what’s left over. What’s left over is now valued at $25.7 trillion. It’s up by 28.4% from the March 23 low, and while that’s till strong for a three-month rally, it’s a far cry from the 51% for the Giant 5. And here is the thing: All these companies combined, minus the “Giant 5,” are way below their peak in February 2020, and below a whole bunch of other dates before then, and below where they’d first been in at the end of January 2018. For the entire rest of the stock market – all its winners and losers combined – minus the “Giant 5” the period since January 2018 was a very rough and unpleasant ride to nowhere. It declined 1%. You would have been better off putting your money in one of those despicable freaking savings accounts:

Seen the other way around: If you had shorted on January 26, 2018, the entire stock market minus the “Giant 5,” you would have had a wild unpleasant ride and made 1%. But if you had shorted the “Giant 5” over the same period, you would have lost 70%. This is how dependent the stock market, and broad portfolios reflecting it, have become on the Giant 5. It’s not that there aren’t a bunch of other companies that have gained as much or more than the Big 5 in percentage terms – there are – but in dollar terms, and in weight in the market, they just don’t measure up to these five giants. Apple and Microsoft both are now worth over $1.5 trillion. Amazon is at nearly $1.4 trillion, Alphabet at $1.0 trillion. These are gigantic valuations. They also speak of an immense concentration of power in a single company.

Read more …

Russia holds its parade to honor the victims of WWII. The western press needs to make that look sinister. As Putin simply calls for cooperation. He must have sinister reasons for doing so.

Putin Reviews Military Parade On Eve Of Vote That Could Extend His Rule (R.)

President Vladimir Putin reviewed a spectacular Red Square military parade on Wednesday, a patriotic display critics said was designed to lift his lower-than-usual ratings on the eve of a nationwide vote that could extend his rule until 2036. Putin watched as intercontinental ballistic missile launchers trundled past, nuclear-capable bombers flew overhead, and columns of tanks and over 14,000 troops, including some from allies like China, marched past under hot sunshine. The parade, to mark the 75th anniversary of the Soviet Union’s World War Two victory over the Nazis, was postponed from May 9 because of the novel coronavirus outbreak, but critics said it was still irresponsible to go ahead with it.

The Kremlin dismissed that assertion, saying new daily infections, though still in the thousands, were on the wane, especially in the Russian capital, the original epicentre of the outbreak, and that all safety precautions were taken. Volunteers gave masks and gloves to those watching on Red Square and ordered them to sit two seats apart. Putin, flanked by veterans, did not wear a mask, but people around him had been tested for the coronavirus, including veterans quarantined at a resort outside Moscow beforehand. Thousands of people thronged Moscow’s streets to watch tanks roll through the city on what was a public holiday. Putin struck a conciliatory tone towards the West, despite complaining beforehand about what he called attempts by some European countries to rewrite history.

He said Moscow would never forget the contribution made by the Soviet Union’s wartime allies, including their opening of a second front in 1944. Putin also made an indirect reference to his desire for the five permanent members of the U.N. Security Council to hold a summit to try to tackle the world’s problems. “We are open to dialogue and cooperation on the most current international questions,” said Putin. “Among them is the creation of a reliable and general system of security, which the complex fast-changing modern world needs. Only together can we defend it from new dangerous threats,” he said.

Read more …

“A Chain Of Stupidity” is what Assange smearer Luke Harding sees in Russia’s intelligence. But the smart folks at Atlantic Council-sponsored Bellingcat will save us from their stupidity. By claiming that Assad conducted chemical attacks on his people. By claiming that Russia downed MH17.

‘The Skripal Case And The Decline Of Russia’s Spy Agencies (G.)

A man named Eliot Higgins was following events in Libya, too – not from the front line, but from his home in the east Midlands. Specifically, from his sofa. It was a safer place to be – and, as it turned out, as good a perch as any from which to analyse the conflict, and to consider questions that, in the heat of battle, were interesting, but seemingly unanswerable. Questions such as: where did the rebels get their arms? Higgins recalls growing up as a shy “nerd”. According to his brother Ross, Higgins was an obsessive gamer and early computer enthusiast. He liked Lego, played Pong on an antediluvian 1980s Atari and was a fan of Dungeons and Dragons. He spent hours immersed in the online roleplay game World of Warcraft, where participants pooled skills and collaborated across virtual borders. His instincts were completist: he wanted to finish and win the game. This would prove useful later on.

Higgins tried for a career in journalism and enrolled on a media studies course in Southampton. It didn’t work out, and he left without a degree. Next, he earned a living via a series of unlikely administrative jobs. One day Higgins logged on to the Guardian’s Middle East live blog. Libya was the centre of international attention. Higgins made his own contributions to the comment section of the Guardian blog, using the name Brown Moses – taken from a Frank Zappa song. The blog often featured videos uploaded by anti-regime fighters. There was fierce debate as to whether these images were authentic or bogus.

One such video showed a newly captured town. The rebels claimed it was Tiji, a sleepy settlement with a barracks that had been recently bombed by Nato jets, close to the border with Tunisia, and on the strategic main road leading to Tripoli. There was a mosque, a white road and a few little buildings with trees around them. The video showed a rebel-driven tank rolling noisily down a two-lane highway. There were utility poles. Higgins used satellite images to see if he could identify the settlement and thereby win the discussion. The features were sufficiently distinctive for him to be able to prove he was correct: the town was Tiji. “I’m very argumentative,” he says. It was the first time he had used geolocation tools. He realised he could collect user-generated videos and later work out exactly where they had been filmed.

Read more …

Ah, Harding has a new book out and that needs to be promoted. So let’s use the Steele Dossier for that. Its credibility hasn’t survived Mueller, but who in Britain knows that? Just throw in that Russia especially hates Britain, that’ll do it.

Johnson And May Ignored Claims Russia Had ‘Likely Hold’ Over Trump (G.)

Boris Johnson and Theresa May ignored claims the Kremlin had a “likely hold” over Donald Trump and may have covertly funded Brexit, the former spy Christopher Steele alleges in secret evidence given to MPs who drew up the Russia report. In testimony to MPs, the MI6 veteran accused the government led by May and in which Johnson was foreign secretary for two years of turning a blind eye to allegations about Trump because they were afraid of offending the US president. Steele first presented a dossier about Trump to senior UK intelligence figures in late 2016, who he says took it seriously at first. But, he writes, “on reaching top political decision-makers, a blanket appeared to be thrown over it”.

“No inquiries were made or actions taken thereafter on the substance of the intelligence in the dossier by HMG [Her Majesty’s government],” Steele says in the critical document. The allegation is contained in a short summary of a larger file of information presented in August 2018 by Steele to parliament’s intelligence and security committee (ISC), inquiring into Kremlin infiltration into British politics and public life. Steele accuses May’s government of selling British interests short by not taking matters further: “In this case, political considerations seemed to outweigh national security interests. If so, in my view, HMG made a serious mistake in balancing matters of strategic importance to our country.”

The Russia expert concluded: “A prospective trade deal should never be allowed to eclipse considerations of national security.” Steele’s confidential testimony is revealed for the first time in a book by the Guardian journalist Luke Harding, Shadow State: Murder, Mayhem and Russia’s Remaking of the West, to be published next week.

Read more …

Siberia has an extreme climate. But it’s now even more extreme.

Siberia Is On Fire And Off The Charts (Canary)

Scientists have expressed concerns about the implications for the rest of the world after a heatwave in Russia’s Siberia region. On Saturday, the thermometer hit a likely record of 38C – or 100.4 degrees Fahrenheit – in the Siberian town of Verkhoyansk in Russia’s Sakha Republic. The World Meteorological Organisation said it is looking to verify the temperature reading, which would be a record for the region north of the Arctic Circle. The increasing temperatures in Siberia have been linked to wildfires that grow bigger and more severe every year, as well as the thawing of the permafrost.

University of Michigan environmental school dean Jonathan Overpeck, a climate scientist, said: “The Arctic is figuratively and literally on fire – it’s warming much faster than we thought it would in response to rising levels of carbon dioxide and other greenhouse gases in the atmosphere, and this warming is leading to a rapid meltdown and increase in wildfires. “The record warming in Siberia is a warning sign of major proportions.” Much of Siberia had high temperatures this year that were beyond unseasonably warm. From January through to May, the average temperature in north-central Siberia has been about 8C above average, according to the climate science non-profit organisation Berkeley Earth.

Siberia is in the Guinness Book of World Records for its extreme temperatures. It is a place where the thermometer has swung by 106C (190 degrees Fahrenheit), from a low of minus 68C to 38C.

Read more …

Very scary people, the lot of them.

Bayer Pays $10 Billion To Settle Thousands Of Monsanto Glyphosate Lawsuits (ZH)

After decades of widespread use as company scientists played down research showing a definitive link between the product and growing rates of non-Hodgkins lymphoma, Monsanto parent company Bayer has agreed to pay up to $10 billion to settle claims that glyphosate, the active ingredient in Roundup, causes cancer. Citing people familiar with the matter, German newspaper Handelsblatt reported that the company has agreed to settle tens of thousands of glyphosate-related lawsuits in the US for between $8 billion to $10 billion. Of that number, $2 billion is considered a “reserve” which can be used to settle future claims. The rest will be used to settle all of the lawsuits pending in the United States from users of the controversial weed killer, the number of active lawsuits against the Roundup purveyor recently numbered more than 50k.


Talks for an out of court settlement have been ongoing since last summer. Last year, scientists evaluated a batch of existing studies and determined that Monsanto’s ubiquitous weed-killer Roundup and its active ingredient glyphosate increased cancer risk of non-Hodgkin lymphoma (NHL) by 41%, according to a research published in February 2019. Back in 2018, a San Francisco Jury awarded $289 million in damages to a former school groundskeeper, Dewayne Johnson, who said Monsanto’s Roundup weedkiller gave him terminal cancer. That award consisted of $40 million in compensatory damages and $250 million in punitive damages.

Read more …

 

 

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Jun 152020
 


Gustave Dore Dante before the wall of flames which burn the lustful 1868

 

The Masks Masquerade (Nassim Taleb)
Millions of US Job Losses Are at Risk of Becoming Permanent (BBG)
Powell Is Now Helpless (Eric Peters)
US Labor Department Throws 401k Investors To The Wolves (F.)
UK Lawmakers Urge FM Sunak To Add 1 Million Workers To Income Schemes (R.)
Beijing Lockdown Spreads In Race To Control Outbreak (SCMP)
Sudden Jump In China Virus Cases Causes Futures To Tumble (ZH)
Second Wave Has Begun in US, Medical System May Be Stressed – Doctor (CNBC)
Greeks Against Second Lockdown – Survey (K.)
Macron Says France Must Seek Greater Economic Independence After Virus (R.)
Putin: Russia Soon Able To Counter “Indefensible” Hypersonic Weapons (ZH)
To Celebrate Obama Day, Here Are Barack’s Greatest Hits (Ben Norton)
Julian Assange Indictment Fails To Mention ‘Collateral Murder’ Video (G.)

 

 

Good thing I’m not into astrology:

• Trump’s birthday: June 14 (a.k.a Obama Day)

• Xi Jinping’s birthday: June 15

 

 

Worldometer reports new cases (midnight to midnight GMT+0) at + 123,645.

My count from about 6 am EDT to 6 am EDT is + 121,464 cases.

But the graph says cases always come down in the weekend, and I’m early today.

 

 

 

 

New cases past 24 hours in:

• US + 20,004
• Brazil + 17,086
• Russia + 8,246
• India + 13,722
• Pakistan + 5,248
• Chile + 6,938

 

 

Cases 8,017,241 (+ 121,464 from yesterday’s 7,895,777)

Deaths 436,124(+ 3,242 from yesterday’s 432,882)

 

 

 

 

 

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

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 


 

 

Taleb goes into much more detail in the article, please read. The inane “doubts” about mask efficacy cost lives. Wear a Mask in Public!

The Masks Masquerade (Nassim Taleb)

Incompetence and Errors in Reasoning Around Face Covering

SIX ERRORS:

1) missing the compounding effects of masks,

2) missing the nonlinearity of the probability of infection to viral exposures,

3) missing absence of evidence (of benefits of mask wearing) for evidence of absence (of benefits of mask wearing),

4) missing the point that people do not need governments to produce facial covering: they can make their own,

5) missing the compounding effects of statistical signals,

6) ignoring the Non-Aggression Principle by pseudolibertarians (masks are also to protect others from you; it’s a multiplicative process: every person you infect will infect others).

In fact masks (and faceshields) supplemented with constraints of superspreader events can save us trillions of dollars in future lockdowns (and lawsuits) and be potentially sufficient (under adequate compliance) to stem the pandemic. Bureaucrats do not like simple solutions. [..] Note that by infecting another person you are not infecting just another person. You are infecting many many more and causing systemic risk.
Wear a mask. For the Sake of Others.

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This won’t sink in for a long time yet.

Millions of US Job Losses Are at Risk of Becoming Permanent (BBG)

Twenty-year-old William Lovely used to work at Jason’s Deli in Virginia Beach, delivering catering orders to surrounding businesses. Now, thanks to the coronavirus, he’s struggling to pay his bills. Laid off in March, he’s gone from regular hours and pay to gigging for UberEats or Instacart, earning up to $100 on some days but often coming home with almost nothing. While the restaurant is trying to slowly reopen, Lovely reckons the best he can hope for is a part-time position, requiring him to keep his second job if he’s going to meet his expenses. “My job stopped, but the bills don’t,” he said. Lovely’s experience goes to the heart of the dilemma facing the world economy as it gradually emerges from the virus-enforced lockdown and unprecedented recession: How many of the millions of lost jobs are gone for good?

The hope is the waves of stimulus doled out by governments and central banks should eventually buoy economies and spark a revival in hiring. Furloughed or redundant workers would then return to their employers. The risk though is that the pandemic is inflicting a “reallocation shock” in which firms and even entire sectors suffer lasting damage. Lost jobs don’t come back and unemployment stays elevated. That would force workers to retrain or relocate, both of which are hard, and governments to do more than just try to spend their way out of trouble. It was a theme hit upon last week by Federal Reserve Chairman Jerome Powell as U.S. central bankers forecast leaving interest rates near zero until 2022 in part because of a surge in unemployment to the highest level since the Great Depression.


There will be “well into the millions of people who don’t get to go back to their old job,” said Powell, who will testify to Congress on the economic outlook this week. “In fact, there may not be a job in that industry for them for some time.” Unfortunately, new research by Bloomberg Economics reckons 30% of U.S. job losses from February to May are the result of a reallocation shock. The analysis — based on the relationship between hiring, firing, openings and unemployment — suggests the labor market will initially recover swiftly, but then level off with millions still unemployed.

Read more …

The louder you say that the bigger the next bank bailout is going to be.

Powell Is Now Helpless (Eric Peters)

“We’re not even thinking about thinking of raising rates,” declared America’s Fed Chairman, all but eliminating uncertainty about the Fed policy path through 2022. The S&P 500 had completed a historic recovery from the pandemic lows to trade higher on the year, its price utterly disconnected from today’s economic devastation. But markets never discount today, they discount tomorrow. And no sooner had they taken a little peek at what prices looked like back on January 1st then they began to plunge. Some blamed signs of a viral resurgence, though that had swirled for days. Others blamed Millennials whose day-trading resembles the dot.com mania. And a few blamed General Milley, America’s top-ranking general, who apologized for joining the President on his ill-fated march to St. John’s Church.

You see, the generals have turned their backs on Trump over his response to demonstrators. The NFL has too; its commissioner apologized for having opposed taking a knee. Even NASCAR banned the Confederate Flag. And as Trump’s re-election prospects tanked, expectations for a dramatic restructuring of America’s economy soared. Efforts to rebalance the division of profits between capital and labor is demanded by a riotous Main Street. But this terrifies Wall Street, which has worked for years with Republicans, Democrats, CEOs and the Fed to extract an ever-increasing share of national prosperity for those who control capital.

This imbalance is central to today’s tumult. “If we held back because we think asset prices are too high – what would happen to those people who we are legally supposed to be serving?” asked Powell rhetorically, unsuccessfully defending himself from a rising chorus of critics who see the Federal Reserve as amplifying inequality. For decades, the central bank accommodated the financialization of the world’s largest economy. Now that the process is largely complete, even a modest market wobble threatens to devastate the real economy. And Powell is now helpless, caught in a trap of the Fed’s making.

Read more …

The Forbes headline says: “Trump DOL Throws…”, but the watering down of asset quality started a long time ago (Greenspan?!). We can pretend that stocks represent real value, but if that were true the Fed would get out of the way in a split second. As I always say: Remember AAA?

US Labor Department Throws 401k Investors To The Wolves (F.)

Trump U. S. Department of Labor watchdogs just opened the door for private equity wolves to sell the highest cost, highest risk, most secretive investments ever devised by Wall Street to 401k plan sponsors. 401k investors will be devoured like lambs to the slaughter. Last week, the U.S. Department of Labor opened the door for plan sponsors to add private equity funds to their 401(k) plans. That’s a huge win for the private equity industry since 401ks hold nearly $9 trillion in assets and a monstrous setback to American workers who invest in 401ks for retirement security.

After over three decades of egregious retail price gouging by mutual fund companies—as to which the DOL turned a blind eye—401k costs have in recent years been trending downward thanks primarily to widespread excessive-fee private class action litigation. Now, if private equity is embraced, 401k costs will skyrocket, risk will dramatically increase and transparency will plummet. Bad enough that DOL—the federal agency which is supposed to protect employer-sponsored retirement benefit plans—welcomed the wolves of Wall Street to feast on workers’ hard-earned savings, but the explanation the agency provided for its reckless action is perverse.

Ramping up the fees and risks to 401k savers will “overcome the effects the coronavirus had had on our economy” and “level the playing field for ordinary investors” by allowing workers to gamble their limited retirement savings like millionaires who can afford to lose lots. [..] Warren Buffett, arguably the world’s most respected investor, recently escalated his criticism of private equity firms. At last year’s Berkshire Hathaway BRK.B annual meeting Buffett stated, “We have seen a number of proposals from private equity firms where the returns are not calculated in a manner that I would regard as honest… If I were running a pension fund, I would be very careful about what was being offered to me.”

Read more …

Until he has a substantial part of the population on these schemes, and a UBI would likely be both cheaper and more efficient. But UBI is a blasphemy.

UK Lawmakers Urge FM Sunak To Add 1 Million Workers To Income Schemes (R.)

British finance minister Rishi Sunak must extend the government’s already huge coronavirus income support measures to include over 1 million more workers who have missed out, lawmakers said on Monday. People who started jobs after a cut-off date in March for the state’s wage subsidy scheme or who set up a company in the last year should not be excluded, the lawmakers from parliament’s influential Treasury Committee said.Self-employed people who earn more than a threshold set by the government, freelancers in industries such as theatre and television and directors of companies who pay themselves in dividends should also be covered, they said. Mel Stride, who chairs the committee, said Sunak had acted quickly to slow an expected surge in unemployment as the crisis escalated in March.


“If it is to be fair and completely fulfil its promise of doing whatever it takes, the government should urgently enact our recommendations to help those who have fallen through the gaps,” he said. Sunak has recognised that some people are not protected by his support plans but has shown no sign of expanding them again. Nearly 9 million jobs are covered by the Coronavirus Job Retention Scheme, which pays temporarily laid-off workers 80% of their salary, capped at 2,500 pounds a month. A separate scheme for self-employed people has received 2.6 million claims. Britain’s budget forecasters have estimated that the two programmes will cost nearly 70 billion pounds ($88 billion) this year, more than the entire government borrowing in the last financial year.

Read more …

This has birthday boy Xi really scared. 11 neigborhoods in Beijing have been shut down.

Beijing Lockdown Spreads In Race To Control Outbreak (SCMP)

Chinese vice-premier Sun Chunlan has prescribed “firm and decisive measures” to prevent the spread of the new coronavirus in Beijing, which reported another 36 new cases in a single day following an outbreak at a food market in the capital. Sun, who has been overseeing China’s Covid-19 control measures since January, told a meeting of the State Council late on Sunday that the risk of the latest outbreak spreading was “very high” because of the market’s large, densely packed and highly mobile population, according to state news agency Xinhua. The new cases bring the number of people affected in the capital by the latest outbreak to 79 – all of them linked to the Xinfadi wholesale market, a food distribution centre in southern Beijing which occupies 107 hectares and supplies food to northern provinces like Shandong, Shanxi, Hebei and Liaoning.


[..] Residential areas near Xinfadi market are once again under strict lockdown, with controlled access pending centralised testing for Covid-19. Beijing Health Commission spokesman Xia Xiaojun said 76,499 samples had been tested on Sunday, with 59 positive. Xia said some of those cases had already been included in the count of confirmed infections, while others were still waiting for diagnosis.

Read more …

Close to 100 new cases.

Sudden Jump In China Virus Cases Causes Futures To Tumble (ZH)

On a day when more than 20 US states are seeing a pick-up in cases, Tokyo reported a jump over the weekend and a fresh outbreak in Beijing prompted officials to close a market there, futures are tumbling, with Eminis down more than 40 points to 2,980 the lowest level since the start of June.The drop follows renewed fears of a second coronavirus wave which massacred shares on Thursday before a modest rebound Friday. But the trigger for tonight’s drop appears to have come out of China, which reported 49 new cases of COVID19 in China on June 14, including 10 imported cases and 39 local cases.

36 local cases were diagnosed in Beijing and 3 in Hebei province, according to the National Health Commission, with China’s Vice Premier Sun Chunlan spooking traders saying that the risks are high for Beijing’s coronavirus resurgence to spread as all cases are related to Xinfadi wholesale market where a large population has visited, according to Xinhua. As reported yesterday, Beijing shut a major food market and imposed lockdown restrictions on residential areas nearby after dozens of people associated with the wholesale market were tested positive for coronavirus.

Additionally, the Global Times reported that 17 out of 19 new imported coronavirus cases registered on Saturday came from South Asia, Chinese health authorities said Sunday, a sharp spike which analysts said indicates that loosening restrictions and worsening contagion in the region poses a danger to the country’s domestic situation. The 17 patients were reported in South China’s Guangdong Province, with 14 flying from Bangladesh and three from India. The 14 patients and the three asymptomatic carriers arrived in Guangzhou on China Southern Airlines flight CZ392 from Dhaka to Guangzhou on Thursday, which prompted the Chinese aviation regulator to suspend the route for four weeks from June 22 in accordance with the latest policy.

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Here’s a doctor who claims a second wave has started in the US. But I don’t see it. What did happen was that peaks were not simultaneous all over the country, and the first ones were in some of the most populous areas (Northeast).

It’s really just been a shift from Northeast to South and West, though, and I see no overall second wave appearing yet. If and when it does, it will likely also be different in different regions of the country. Note: there is kind of a second wave in Houston.

 

 

 

 

Second Wave Has Begun in US, Medical System May Be Stressed – Doctor (CNBC)

A second wave of coronavirus has started in the U.S. — and people need to remain careful or risk stressing out the health-care system again, said William Schaffner, a professor at the Vanderbilt University School of Medicine. “The second wave has begun,” said the professor of medicine told CNBC’s “Street Signs Asia” on Monday. “We’re opening up across the country, but many, many people are not social distancing, many are not wearing their masks.” Even so, he said he “cannot imagine” a second shutdown due to the impact of the first one. Several states in America have reported recent spikes in Covid-19 cases as measures are eased throughout the country. The U.S. has the highest number of cases in the world. Nearly 2.1 million people have been infected by the disease and more than 115,000 people have died, according to data from Johns Hopkins University.

Schaffner added that mass gatherings and religious services are also being held. “Many people are simply not being careful, they’re being carefree,” he said. “That, of course, will lead to more spread of the Covid virus.” Despite signs of a second wave, Schaffner said the option of another lockdown is “off the table.” Instead, governments, businesses and religious leaders have to work together to promote mask wearing and social distancing in order to flatten the curve. He said wearing masks is “very, very important” and authorities should “persuade and educate” their residents to make this a “social norm.” “If we all do that in respect of each other, then I think we can make some progress,” said Schaffner.

“If we do all the opposite — if we open up, do not have social distancing, don’t wear masks and congregate in large numbers again, we are going to be very stressed in the medical care system,” he warned. “The complete shutdown was such a financial disaster, and had so many social and cultural implications that I cannot imagine we’ll have a shutdown again,” he said. Other countries, however, have not shied away from reimposing measures when new clusters are detected in the community. In May, South Korea shut all night clubs and bars in Seoul after a new cluster surfaced there. Last week, Beijing reportedly banned tourism and locked down 11 neighborhoods in response to infections related to a wholesale market.

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If things go well, I should be back in Athens soon. The sentiment here is probably more or less the same as in many other countries.

Greeks Against Second Lockdown – Survey (K.)

Greeks are concerned about the impact of the coronavirus on public health and the economy, while also skeptical about the causes and repercussions of the pandemic, according to a survey conducted by Pulse for Kathimerini. Eighty-four percent say that Covid-19 is “definitely” or “perhaps” a serious risk to public health. The risk appears greater among older age groups and educated individuals. Meanwhile, 76 percent say that the health measures, which damaged the economy, were “definitely” or “maybe” necessary. More specifically, the measures were deemed as necessary by 90 percent of New Democracy voters and 62 percent of SYRIZA voters. Concern is widespread. Thirty-two percent are more worried about their financial situation and 23 percent about their health, while 42 percent said that both issues have them “equally concerned.”

Most people say they are against a fresh lockdown in the case of a second wave in the autumn. The restrictions on public movement appear to have taken an economic and psychological toll. As a result, only 21 percent favor a repeat of the “horizontal restrictions.” Meanwhile, 65 percent favor restrictions only in places where a spike in cases is recorded while 10 percent say that the state “must only give recommendations” to citizens. The survey shows that people with lower education and income levels are more likely to question official theories about the origin of the virus. It appears that lower income individuals (usually people with limited educational opportunities) tend to associate Covid-19 with formal structures which they hold responsible for their condition.


More specifically, 33 percent believe that the virus is being used to “intimidate” the public, an equal share say it is being used to enforce compulsory vaccination, while 35 percent say that the virus is used as an excuse to compromise citizens’ personal data. However, Greeks appear relatively immune to the 5G coronavirus conspiracy, as only 10 percent believe there is any connection between the spread of Covid-19 and mobile phone technology. A key reason perhaps is that 5G technology is still not available in Greece. [..] More than half (52 percent) said Covid-19 was created by humans. Of these, 30 percent claim that the virus was created by humans with a specific purpose in mind (like an experiment on population control), while 22 percent say that the virus was created by mistake (like an accident in a lab). Eleven percent said they did not know where the virus might have come from.

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1) Does Macron -also- mean independence from the EU?
2) The French are not averse to a bit of nationalism, and Macron like many other leaders can and does use the idea that the virus came from abroad to play into it
3) Of course countries should cut their dependence on others when it comes to essential goods, but the EU wants the opposite
4) If there’s one police force that needs reform, it’s the French

Macron Says France Must Seek Greater Economic Independence After Virus (R.)

President Emmanuel Macron said on Sunday he was accelerating France’s exit from its coronavirus lockdown and that the crisis had laid bare the country’s need for greater economic independence. In a televised address to the nation, Macron promised that the 500 billion euro cost of keeping companies afloat and people in jobs during the worst downturn since World War Two would not be passed to households through higher taxes. Restaurants and cafes in Paris will be allowed to reopen fully from Monday, he said, the same day France lifts restrictions at its borders for European Union travellers, bringing sorely needed relief for the hospitality industry.

He said the coronavirus pandemic had exposed the “flaws and fragility” of France’s, and more broadly Europe’s, over-reliance on global supply chains, from the car industry to smart phones and pharmaceuticals. “The only answer is to build a new, stronger economic model, to work and produce more, so as not to rely on others,” Macron said. The coronavirus has killed more than 29,300 people in France and forced Macron, a former investment banker, to suspend his economic and social reform drive aimed at spurring growth, creating jobs and deregulating the economy. The government expects the economy to shrink by 11% in 2020. Macron said he would lay out a detailed blueprint for the final two years of his mandate in July.

[..] The global outpouring of anger has forced France to confront allegations from ethnic minorities and rights groups of racism and brutality within France’s own law enforcement agencies. Macron said skin colour too often reduced a person’s opportunities in France, promising to be unflinching against all discrimination. But he expressed support for French police and said fighting racism should not lead to a “hateful” re-writing of the history of France, whose empire once stretched from the Caribbean to the South Pacific and included much of north and west Africa. “I will be very clear tonight, compatriots: the Republic won’t erase any name from its history. It will forget none of its artworks, it won’t take down statues,” Macron said.

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The US can only play catch-up, and even that it’s not good at.

Putin: Russia Soon Able To Counter “Indefensible” Hypersonic Weapons (ZH)

The thing about hypersonic missiles is they are supposed to be impossible to defend against. Since Russia began touting its experimental arsenal two years ago, the prospect of devastating weapons capable of traveling at Mach 5, or at least a mile per second, has kept Pentagon generals up at night. “The hypersonic threat is real, it is not imagination,” Air Force Lt. Gen. Samuel Greaves told a D.C. defense conference in 2018. “Greaves comments come amid reports that assess Russia will be capable of fielding a hypersonic glide vehicle, a weapon that no country can defend against, by 2020,” a report at the time underscored alarmingly.

The “indefensible” super weapon… but Russian President Vladimir Putin now says the Kremlin will soon have the technology to defend against it — this as more and more information has been slowly revealed concerning the US Department of Defense’s own multi-billion dollar hypersonics program. Putin made the new comments Sunday: “It’s very likely that we will have means to combat hypersonic weapons by the time the world’s leading countries have such weapons,” he said according to the RIA news agency. Russian state media further said Putin referenced an emerging hypersonins ‘arms race’. The Russian president said that Russia’s rivals will soon be “surprised” when they learn the Russian armed forces will be able to “combat them”.

Putin’s words, as conveyed by RT, were paraphrased as follows: Other nations are hastily designing their own hypersonic weapons – but by the time they are acquired, the Russian military will have learned how to shield the country from them, President Vladimir Putin said. The world’s leading military powers will eventually succeed in developing the ultra-fast weapons, President Vladimir Putin told Russia-1 TV. Russia, meanwhile, which seems to be leading the race for hypersonic dominance, won’t be caught off-guard once that happens, he pledged. I think that we can pleasantly surprise our partners with the fact that when they get these weapons, we will have the means of combating them, with a high degree of probability.

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Balance.

To Celebrate Obama Day, Here Are Barack’s Greatest Hits (Ben Norton)

To celebrate Obama Day, here are Barack’s greatest hits (wars, coups, slavery, sanctions, al-Qaeda, colonialism) In parts of the United States and the bottomless pit of the internet, today, June 14, is considered “Barack Obama Day.” On social media, the hashtag #ObamaDayJune14th is going viral. So I thought I would commemorate this day by listing some of the former Democratic president’s many accomplishments.

As his supporters are so keen to point out, Obama had no major scandals, you see, except for:
• wearing that tan suit one time
• deporting more people than any other president, 2.7 million, earning the ignominious title “deporter in chief”
• dropping 26,171 bombs on seven Muslim-majority countries in his last year in office alone
• overseeing a genocidal war in Yemen that has killed hundreds of thousands of people and unleashed the largest humanitarian catastrophe on Earth
• supporting al-Qaeda in Syria, funneling billions of dollars of weapons to hardened Salafi-jihadist fanatics to try to destroy the country, and fueling the rise of ISIS
• arming al-Qaeda in Yemen as well
• destroying Libya, once the most prosperous country in Africa, leaving behind a failed state with open-air slave markets
• giving the Israeli apartheid regime $38 billion in unconditional military aid and arming it as it bombed civilians in Gaza (in three separate, barbaric wars: 2008-2009, 2012, and 2014)
• creating the Trans-Pacific Partnership (TPP), a neoliberal “free trade” monstrosity that would have ensured even more dystopian corporate tyranny over the global political and economic system

Oh yeah, and here are some more unforgettable classics from Obama:
• sponsoring the military coup in Honduras, overthrowing its democratically elected left-leaning government and installing a far-right narco-dictatorship led by a neoliberal autocrat whose drug lord brother smuggled thousands of tons of cocaine and machine guns
• managing Project Gunrunner and Operation Fast and Furious, in which the US Bureau of Alcohol, Tobacco, Firearms and Explosives sent thousands of guns to murderous drug cartels in Mexico
• backing the parliamentary coup in Brazil, removing the democratically elected Workers’ Party government and paving the way for the fascist Bolsonaro regime
• supporting a soft coup against the democratically elected government in Paraguay
• overseeing a violent coup against Ukraine’s Russia-leaning elected government with the “Euromaidan” movement, in which neo-Nazis and other fascists played a significant role
• subsequently arming the neo-Nazi Azov Battalion in Ukraine
• prolonging the military occupation of Afghanistan, after promising dozens of times he would end the war by 2014
• maintaining a daily “kill list” (known euphemistically as the “disposition matrix”) in which the US president personally approved extrajudicial assassinations of thousands of people, via a covert drone warfare program spanning multiple continents, regularly bombing countries including, but not limited to, Pakistan, Somalia, Yemen, Afghanistan, Syria, and Iraq

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The US totally ignores the video that’s central to the entire story, and the Guardian ignores teh fact that it’s published 1,000 Assange smear pieces. What a wonderful world.

Julian Assange Indictment Fails To Mention ‘Collateral Murder’ Video (G.)

US prosecutors have failed to include one of WikiLeaks’ most shocking video revelations in the indictment against Julian Assange, a move that has brought accusations the US doesn’t want its “war crimes” exposed in public. Assange, an Australian citizen, is remanded and in ill health in London’s Belmarsh prison while the US tries to extradite him to face 18 charges – 17 under its Espionage Act – for conspiracy to receive, obtain and disclose classified information. The charges relate largely to the US conduct of wars in Iraq and Afghanistan, including Assange’s publication of the US rules of engagement in Iraq. The prosecution case alleges Assange risked American lives by releasing hundreds of thousands of US intelligence documents.

One of the most famous of the WikiLeaks releases was a video – filmed from a US Apache helicopter, Crazy Horse 1-8, as it mowed down 11 people on 12 July 2007 in Iraq. The video starkly highlights the lax rules of engagement that allowed the killing of men who were neither engaged with nor threatening US forces. Two of those Crazy Horse 1-8 killed in east Baghdad that day were the Reuters photographer Namir Noor-Eldeen, 22, and a driver/fixer, Saeed Chmagh, 40. Their Baghdad bureau chief at the time, Dean Yates, said the US military had repeatedly lied to him – and the world – about what happened, and it was only when Assange released the video (which WikiLeaks posted with the title Collateral Murder) in April 2010 that the full brutal truth of the killings was exposed.

“What he did was 100% an act of truth-telling, exposing to the world what the war in Iraq looks like and how the US military lied … The US knows how embarrassing Collateral Murder is, how shameful it is to the military – they know that there’s potential war crimes on that tape,” Yates said.

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