May 312021
 


Edgar Degas Landscape with Path Leading to a Copse of Trees 1880-92

 

Employees Sue Hospital over Vaccine Mandate (L&C)
Vaccine Passports For Cross-Border Travel Take Off In Europe (RT)
DHS Walks Back Claim US Taking “Close Look” At Vaccine Passports (ZH)
Masks Achieve Nothing In Terms Of Spread (Guerra)
The Basic Foolishness With The Path (Denninger)
Travel Restrictions & Partial Lockdown Imposed In Guangzhou (RT)
Over 200 Republicans Press Pelosi To Back COVID-19 Origin Probe (ZH)
Denmark Helped NSA Spy On EU Leaders, Snowden Says Biden ‘Deeply Involved’ (RT)
‘Silicon Six’ Tech Giants Accused Of Inflating Tax Payments By $100bn (G.)
Senate Preparing $10 Billion Bailout Fund For Jeff Bezos Space Firm (IC)
Julian Assange’s Father and Brother Announce US Tour (CD)

 

 

 

 

Slowly redefining, eroding legal language.

From 2 days ago: “The updated guidelines say employers may offer incentives for employees to provide documentation showing they have been vaccinated since requesting this proof “is not a disability-related inquiry” or an “unlawful request” under federal anti-discrimination laws.”

Today: “..the coronavirus vaccines available in the U.S. are no longer considered “experimental” because they have “completed clinical trials and have been authorized for emergency use.”

Employees Sue Hospital over Vaccine Mandate (L&C)

A group of 117 Houston-area hospital employees on Friday filed a civil lawsuit against an employer hospital’s coronavirus vaccine mandate. The lawsuit alleges that the mandate violates both the Nuremberg Code and U.S. statutes that allow Americans to refuse “unapproved” medical treatments. It also alleges violations of Texas labor and employment laws. That “people” are “trying to force you to put something into your body that you’re not comfortable with to keep your job is just insane,” lead plaintiff Jennifer Bridges told Houston CBS affiliate KHOU. The defendants are The Methodist Hospital, the Methodist Hospital System, and Houston Methodist The Woodlands Hospital. The people in charge of those entities responded to the litigation by saying the plaintiffs are but a small minority of voices among 26,000 employees and that it is “legal for health care institutions to mandate vaccines.”

The sharply worded 56-page complaint argues that the COVID-19 vaccines currently on the market were authorized merely as “emergency” measures and, thus, are not fully “approved” vaccines. At the top of the document are words attributed to David Bernard, the CEO of Houston Methodist San Jacinto Hospital: “100% vaccination is more important than your individual freedom. Everyone [sic] of you is replaceable. If you don’t like what your [sic] doing you can leave and we will replace your spot.” Those alleged words did not sit well with the plaintiffs. “For the first time in the history of the United States, an employer is forcing an employee to participate in an experimental vaccine trial as a condition for continued employment,” the lawsuit argues.

The document continues by alleging that the defendant hospital “became the first major health care system in the country to force it [sic] employees to be injected with an experimental COVID-19 mRNA gene modification injection (‘experimental vaccine’) or be fired.” “Methodist Hospital is forcing its employees to be human ‘guinea pigs’ as a condition for continued employment,” the lawsuit’s opening paragraph also says. The Washington Post on May 14 reported that the coronavirus vaccines available in the U.S. are no longer considered “experimental” because they have “completed clinical trials and have been authorized for emergency use.” The same report quotes a bevy of experts who asserted that the current vaccines are safe while noting that millions of Americans have been vaccinated without serious harm.

Read more …

You can be the healthiest person in the world, but it makes no difference.

Vaccine Passports For Cross-Border Travel Take Off In Europe (RT)

Greece and Denmark have become the first to launch Covid-19 vaccine passports for travel within the EU, as the bloc pushes for all member states to adopt the system and US officials say they’re considering the idea. The two countries rolled out the new passes on Friday in separate press conferences, with Greek Prime Minister Kyriakos Mitsotakis calling them a “fast lane to facilitate travel” in Europe and help “restore freedom of movement.” While some EU states, including Denmark, had already implemented their own internal vaccine certificates, the new passports can be used for cross-border travel, in line with a March proposal by the European Commission.

The Greek and Danish passports are managed through a smartphone app that shows a user’s vaccination status and the last time they were tested for coronavirus. Both also use a scannable QR code to quickly relay the information, though paper versions will also be made available. The EU has pressed for all 27 of its member states to adopt a bloc-wide passport by July 1, agreeing to the plan in principle last week ahead of the summer tourism season. The push comes after the bloc called for an easing of the travel restrictions imposed at the height of the pandemic, recommending that members allow foreign visitors if they are fully vaccinated. While the European Parliament has yet to formally approve the passport scheme, several countries have already moved ahead.

In addition to Greece and Denmark, Ireland also announced plans on Friday to adopt an international Covid pass by July 19, while the UK’s National Health Service recently updated its digital passport app for cross-border travel. The passports will also be valid in non-EU nations Iceland, Liechtenstein, Norway, and Switzerland, according to the European Commission. As the passes gain traction across Europe, US officials have said they are also eyeing the concept for foreign travel, with Department of Homeland Security (DHS) chief Alejandro Mayorkas telling ABC on Friday that the Biden administration is “taking a very close look at that.” A DHS spokesperson later clarified, however, that there would be no “federal mandate” for any kind of vaccine pass, adding that the government would help Americans only to meet entry requirements in other countries.

Read more …

“The Biden administration has previously said multiple times that it will not require vaccine passports, or proof of vaccination, on the federal level. However, the administration is working with private companies to set guidelines for passport systems.”

DHS Walks Back Claim US Taking “Close Look” At Vaccine Passports (ZH)

The Department of Homeland Security (DHS) on Friday walked back comments made by the agency’s chief, who suggested earlier in the day that the federal government was “taking a very close look” at the idea of requiring vaccine passports to enter or leave the United States. “Looking ahead to summer, Europe and other countries are going to open up. Could we see vaccine passports to travel internationally either into or out of the U.S.?” an ABC “Good Morning America” host asked Alejandro Mayorkas, head of the DHS. “We’re taking a very close look at that,” Mayorkas responded. But DHS said Mayorkas was only talking about how Americans will need to use such passports to enter other countries.

“We’ve always said we’re looking at how we can ensure Americans traveling abroad have a quick and easy way to enter other countries. That’s what the secretary was referring to; ensuring that all U.S. travelers will be able to easily meet any anticipated foreign country entry requirements,” an agency spokesperson told news outlets. “There will be no federal vaccinations database and no federal mandate requiring everyone to obtain a single vaccination credential,” the department also said. The White House had responded to Mayorkas’ statement by saying the same thing. Asked to explain his comments, spokeswoman Karine Jean-Pierre told reporters on Air Force One:

“Again, the U.S. government recognizes that other countries have or may have foreign-entry requirements. We will be monitoring these and helping all U.S. travelers meet those, but we will not be—there will be no federal mandate requiring anyone to obtain a single vaccination credential.” The Biden administration has previously said multiple times that it will not require vaccine passports, or proof of vaccination, on the federal level. However, the administration is working with private companies to set guidelines for passport systems. A variety of groups have raised concerns about vaccine passports, arguing it would be an overreach of government authority to require vaccination proof. A number of states have banned requiring of passports, such as Georgia, and Sens. Ted Cruz (R-Texas), Mike Braun (R-Ind.), and Cynthia Lummis (R-Wyo.) announced Friday they were introducing a bill that would ban them.

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Bit confusing?!

Masks Achieve Nothing In Terms Of Spread (Guerra)

Latest analysis shows yet again – yet again – what we already knew from 40 years of published research. And also empirically from simply glancing over the past year’s real-world data. Masks don’t work! Our main finding is that mask mandates and use are not associated with lower SARS-CoV-2 spread among US states. 80% of US states mandated masks during the COVID-19 pandemic. Mandates induced greater mask compliance but did not predict lower growth rates when community spread was low (minima) or high (maxima). We infer that mandates likely did not affect COVID-19 case growth [15], as growth rates were similar on all days between actual or modeled issuance dates and 6 March 2021. Higher mask use (rather than mandates per se) has been argued to decrease COVID-19 growth rates [11].

While compliance varies by location and time, IHME estimates are robust (derived from multiple sources [17]) and densely sampled (day-level precision). Higher mask use did not predict lower maximum growth rates, smaller surges, or less Fall-Winter growth among continental states. Mask-growth rate correlation was only evident at minima. This may be an artifact of faster growth at fewer normalized cases, as well as regional differences in case prevalence early in the pandemic. States in the high mask quintile grew at similar rates as states in the low mask quintile after maxima (when interstate total case differences were smaller than before minima). In addition, mask use did not predict normalized cases at minima, and low mask growth curves trailed those of high mask (particularly Northeast) states before minima.

Growth maxima and Fall-Winter surges did not differ between Northeast and other states. Northeast states exhibited the highest seroprevalence up to at least July 2020 [24] and constituted 80% of the top quintile of mask use, which may explain their comparatively lower Summer growth. Overall, mask use appears to be an intra-state lagging indicator of case growth. There is inferential but not demonstrable evidence that masks reduce SARS-CoV-2 transmission. Animal models [25], small case studies [6], and growth curves for mandate-only states [16] suggest that mask efficacy increases with mask use [11]. However, we did not observe lower growth rates over a range of compliance at maximum Fall-Winter growth (45-83% between South Dakota and Massachusetts during maxima) [17] when growth rates were high.

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“..you must use very large amounts of the substance in order to get enough of it where you want it and the unwanted part can and does cause problems in other parts of the body.”

The Basic Foolishness With The Path (Denninger)

Moderna, for example, is not a new company. They have repeatedly tried to get their mRNA technology to be taken up preferentially by parts of the body that have some disease or disorder and thus attempt to treat that. It has never worked, because while some preference can be expressed for the particular particles injected too much of it winds up in other places where it’s not wanted and causes problems. Let me repeat this for emphasis: Nobody has managed to come up with an injected, complex substance such as “nanoparticles” that are only taken up by the tissues desired and not by any of the others. This in turn means you must use very large amounts of the substance in order to get enough of it where you want it and the unwanted part can and does cause problems in other parts of the body.

This is why Moderna, despite ten years of trying, has never before had a successful therapy licensed anywhere. We were told that this sort of thing does not happen with these shots. But there was zero proof of this; in fact, quite to the contrary, there was ten years of evidence by this company’s trials itself that said it was the exact opposite; specificity simply could not be guaranteed and too much would spill over into other places. We now know it happens with the mRNA shots as well, both directly and indirectly. The second pillar of the development of these vaccines was the claim, which the CDC still makes by the way, that the spike protein alone is harmless. Thus, even if some of the material was taken up in the wrong place (not the muscle and the lymph system) it was ok because it wouldn’t hurt you.

Unfortunately we now know that’s false as the spike alone is not inert and harmless; the first indications of that in scientific papers came in September of 2020 and development was not halted until the risk could be characterized. The CDC is knowingly lying in their public statements; that the spike portion of the virus is “harmless” is simply not subject to reasonable scientific support at this point in time. Yes, inducing antibodies in the circulation is what you want to happen. Causing spike protein components and the intact spike protein to be found in the circulation, however, you definitely do not want to happen because we now know, on the body of evidence, that both S1 standing alone and the whole spike are pathogenic — that is, they cause disorders in the body.

Indeed the evidence is quite strong that when you get hammered by Covid the reason you get hammered is that the infection becomes systemic and the part of the virus that causes the systemic problem is the spike when it gets into the circulation and then is disseminated through the body’s systems. We now know that the spike protein alone is capable of producing abnormal clotting absent the rest of the virus — that is, the entire virus isn’t necessary to do it and it’s not the virus infecting cells and replicating in them that causes it; it is the spike alone that induces the body to inappropriately produce blood clots where they do not belong.

Read more …

We don’t see much virus news from China.

Travel Restrictions & Partial Lockdown Imposed In Guangzhou (RT)

Border control and a partial lockdown have been imposed in the Chinese city of Guangzhou, after a cluster of the Indian variant of the coronavirus was discovered there. People leaving Guangzhou, a provincial capital of 15.3 million, must test negative for the coronavirus within 72 hours before the trip. Roughly 520 flights were canceled at Guangzhou Baiyun International Airport, one of the world’s busiest air travel hubs, as of 11:40am local time on Monday, CNA news agency reported, citing aviation data provider VariFlight.


Authorities earlier announced stay-at-home orders for residents of several streets in the city’s Liwan District, where the first infected patient was discovered on May 21, and restricted travel on the subway and buses. Large gatherings were banned across Guangzhou, while indoor venues were told to operate at limited capacity and targeted mass-testing programs were launched. Chen Bin, the deputy chief of the provincial health commission, was cited by Xinhua as confirming on Sunday that all locally transmitted cases found in Guangzhou since May 21 were linked to the B.1.617 coronavirus strain, also known as the Indian variant.

Read more …

200 is a lot.

Over 200 Republicans Press Pelosi To Back COVID-19 Origin Probe (ZH)

More than 200 House Republicans are putting pressure on their Democrat counterparts to get down to the COVID-19 origins and hold the Chinese regime accountable for the pandemic coverup. “We request that you instruct the appropriate Democrat committee chairs to immediately join Republican calls to hold the Chinese Communist Party (CCP) accountable for its role in causing the global COVID-19 pandemic,” stated a May 28 letter to Speaker Nancy Pelosi (D-Calif.). The effort was led by House Minority Leader Kevin McCarthy (R-Calif), Minority Whip Reps. Steve Scalise (R-La.), and Rep. Elise Stefanik, the chair of the House Republican Conference and joined by 209 House Republicans.

The lawmakers said Pelosi had “falsely claimed” that “questions about the CCP’s liability” were a “diversion” – likely referring to Pelosi’s remarks from last May describing then-President Donald Trump’s blame on China as an “interesting diversion.” “There is mounting evidence the pandemic started in a Chinese lab, and the CCP covered it up. If that is the case, the CCP is responsible for the deaths of almost 600,000 Americans and millions more worldwide,” they stated in the letter. “[E]very American family that lost someone deserves answers about the origin of this terrible virus,” they continued, adding that “House Democrats’ ongoing refusal to allocate investigative resources to get those answers is an affront to them.” “China can’t get away with this. Americans deserve answers,” Scalise wrote in a May 28 tweet.

The lawmakers cited a growing pile of evidence that the virus may have escaped from a Wuhan lab, an idea that many media outlets and scientists had initially dismissed as a conspiracy theory. A State Department fact sheet, released during the final days of the Trump administration, suggested researchers with the Wuhan Institute of Virology (WIV), located in the vicinity of the seafood market initially thought to be the outbreak’s origin, fell ill with COVID-19 like symptoms in autumn 2019. Recently, an undisclosed intelligence report also surfaced saying three WIV staff were sick enough to seek hospital care that November.

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What is Merkel going to do about Denmark? Her anger over having her phone spied on sure went away fast.

Denmark Helped NSA Spy On EU Leaders, Snowden Says Biden ‘Deeply Involved’ (RT)

The US National Intelligence Agency received support from Denmark in spying on European politicians, according to a new joint media report, something President Joe Biden is well-informed to answer for, says Edward Snowden. German Chancellor Angela Merkel and President Frank Walter-Steinmeier are among those who were spied on by the NSA with the cooperation and help of the Danish Defense Intelligence Service (FE), according to the European media investigation. The US spying on not only its own citizens, but also leaders in foreign countries is an accusation that came to light in 2013, mostly thanks to documents leaked by former NSA contractor-turned-whistleblower – though he remains a fugitive in the US – Edward Snowden. Snowden’s leaks specifically revealed Merkel’s private cell phone had been monitored by US authorities.

The new revelations come as a result of multiple European news outlets – including Danish state broadcaster DR, German NDR, Swedish SVT, Norwegian NRK and French Le Monde among others – obtaining access to internal reports and information from Danish Secret Service sources. According to the investigation, politicians in Germany, Sweden, Norway, the Netherlands, France and even Danish finance industries were also targeted by the NSA with the help of Danish spies. The Danish government has reportedly known about the cooperation for years and forced FE leadership to step down in 2020 after discovering the full extent of the relationship following an internal investigation. They did not, however, report the findings to any European Union allies.

The spying was primarily done through hijacking Danish electronic communications systems as the country has landing stations for subsea internet cables between numerous countries, such as Germany and Sweden. By using politicians’ and officials’ phone numbers, authorities were able to pull texts and phone calls, while those being spied on were none the wiser. Snowden, who made his revelations about the NSA while Biden was vice president, says the current president is “well-prepared” to answer the accusations and that there should be a requirement of “full disclosure” from both Denmark and the US. “Biden is well-prepared to answer for this when he soon visits Europe since, of course, he was deeply involved in this scandal the first time around,” he tweeted. “There should be an explicit requirement for full public disclosure not only from Denmark, but their senior partner as well.”

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“Overall, they paid $219bn in income tax over the past decade, 3.6% of their total revenue of more than $6tn.”

‘Silicon Six’ Tech Giants Accused Of Inflating Tax Payments By $100bn (G.)

The giant US tech firms known as the “Silicon Six” have been accused of inflating their stated tax payments by almost $100bn (£70bn) over the past decade. As Chancellor Rishi Sunak called on world leaders to back a new tech tax ahead of next week’s G7 summit in the UK, a report by the campaign group Fair Tax Foundation singled out Amazon, Facebook, Google’s owner, Alphabet, Netflix, Apple and Microsoft. It said they paid $96bn less in tax between 2011 and 2020 than the notional taxation figures they cite in their annual financial reports. . The six firms named handed over $149bn less to global tax authorities than would be expected if they had the paid headline rates where they operated, Fair Tax Foundation said.

Overall, they paid $219bn in income tax over the past decade, 3.6% of their total revenue of more than $6tn. Income tax is paid on profits, but the researchers said the Silicon Six companies deliberately shift income to low-tax jurisdictions to pay less tax. Based on companies’ regulatory filings, the report found that Amazon, the internet retailing and cloud services provider run by the world’s richest man, Jeff Bezos, collected $1.6tn of revenue, reported $60.5bn of profit and paid $5.9bn in income taxes this decade. Amazon would have been expected to pay $10.7bn in taxes on those profits based on international tax rates, the report said. The tax paid as a percentage of profit was just 9.8% over the period 2011-20, the lowest of the so-called “Silicon Six”.

An Amazon spokesperson disputed the calculations as “extremely misleading”. “Amazon is primarily a retailer where profit margins are low, so comparisons to technology companies with operating profit margins of closer to 50% is not rational,” the company said. “Governments write the tax laws and Amazon is doing the very thing they encourage companies to do – paying all taxes due while also investing many billions in creating jobs and infrastructure. Coupled with low margins, this investment will naturally result in a lower cash tax rate.”

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Don’t pay taxes, get bailed out instead.

Senate Preparing $10 Billion Bailout Fund For Jeff Bezos Space Firm (IC)

Now that Jeff Bezos’s space flight company Blue Origin has lost a multibillion contract to Elon Musk’s SpaceX, Congress is prepping the ground for Bezos to win a contract anyway, ordering NASA to make not one but two awards. The order would come through the Endless Frontier Act, a bill to beef up resources for science and technology research that’s being debated on the Senate floor this week. An amendment was added to that legislation by Sen. Maria Cantwell, D-Wash., to hand over $10 billion to NASA — money that most likely would go to Blue Origin, a company that’s headquartered in Cantwell’s home state.


Cantwell’s amendment is no sure bet though: Sen. Bernie Sanders, I-Vt., introduced a last-minute amendment Monday to eliminate the $10 billion. “It does not make a lot of sense to me that we would provide billions of dollars to a company owned by the wealthiest guy in America,” Sanders told The Intercept Tuesday. The Bezos space company had been competing against SpaceX for a contract to put astronauts on the moon, the first such trips since 1972, but lost the bidding process with a price tag twice that of SpaceX. NASA announced the award to the Elon Musk-owned company last month.

Read more …

“My brother Julian Assange has effectively been a prisoner for over a decade because he published evidence of war crimes..”

Julian Assange’s Father and Brother Announce US Tour (CD)

The father and brother of WikiLeaks founder Julian Assange are planning a nationwide tour of the United States next month to advocate for the release of the detained journalist and for the Biden administration to drop its extradition effort—and to highlight the broader implications that his prosecution has for global press freedom. John and Gabriel Shipton, Assange’s father and brother, will kick off the #HomeRun4Julian tour in Miami on June 6, then travel to over a dozen U.S. cities for the rest of the month, wrapping up in Washington, D.C. in July. Some events will be live-streamed, and the pair plans to meet with activists, journalists, and policymakers along the away. “My brother Julian Assange has effectively been a prisoner for over a decade because he published evidence of war crimes,” said Gabriel Shipton in a statement Thursday. “The U.S. government wants to make an example out of him to deter journalists and whistleblowers.”

Read more …

 

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May 282021
 


Brassaï Couple on a bench, Paris 1932

 

Suppressing Data On Ivermectin Cost ‘Half A Million Lives’ – Kory (WT)
Inhaled Nanobodies Could Be New Secret Weapon Against Severe Covid (RT)
US Sitting On ‘Raft’ Of Unexamined Virus Intel (ZH)
Fort Detrick Base Is Full Of Suspicions – China (RT)
Rand Paul: “Fauci Cannot Investigate Himself; Get Him Under Oath” (SN)
California Launches Largest US Covid Vaccine Lottery Yet (G.)
Facebook Now Banning Anyone Who Says Virus Wasn’t Created In Wuhan Lab (BBee)
Bezos Weaponizes The Washington Post Homepage (DP)
Biden’s Budget Assumes a Massive Retroactive Capital Gains Tax (Mish)
Socialism for 1% Capitalism 99% (Braund)
CNN Hires Trump As News Anchor To Recover Lost Viewers (BBee)

 

 

Just how crazy is this? You can say that the vaccines are not approved, but not that they haven’t been appropriately tested?

 

 

Hodkinson

 

 

“It’s literally criminal.”

Suppressing Data On Ivermectin Cost ‘Half A Million Lives’ – Kory (WT)

In a recent Zoom call, Dr. Pierre Kory of the Front Line COVID-19 Critical Care Alliance outlined numerous details showing the World Health Organization (WHO) knowingly suppressed data on the effectiveness of ivermectin against the virus in order to benefit the vaccine interests of Big Pharma. “It’s criminal,” Kory said. “It’s literally criminal.” The drug “could have saved half a million lives this year if it had been approved.” The WHO, Kory contends, is simply taking part in the tactics of a time-worn “Disinformation Playbook.” The term was coined by the Union of Concerned Scientists 50 years ago to describe the strategies corporations have developed over decades to “attack science when it goes against their financial interests.”

It consists of five parts:
The Fake – Conduct counterfeit science and try to pass it off as legitimate research.
The Blitz – Harass scientists who speak out with results reviews inconvenient for industry.
The Diversion – Manufacture uncertainty about science where little or none exists.
The Screen – Buy credibility through alliances with academia or professional societies.
The Fix – Manipulate government officials or processes to influence policy inappropriately.

In the full Zoom call, since removed by YouTube but available on Bitchute, Kory describes how the five tactics have been deployed against the scientific findings on ivermectin. One example is the corruption of leading medical journals, whose editors refuse to allow ivermectin studies to advance to peer review. The most egregious institutional participant, however, is the WHO. Kory is the lead author of a scientific review of the studies on ivermectin worldwide, which was published in the May-June edition of The American Journal of Therapeutics. As reported on the FlCCC website, there have been a total of 56 trials involving 469 scientists and 18,447 patients. Of these, 28 were randomized control trials (RCT), the type of trial considered highly authoritative in the medical community.

Together these have shown an 85 percent improvement as a preventative against the disease when taken before exposure. There has been a 78 percent patient improvement when administered early and a 46 percent improvement when delivered late. A 74 percent improvement in mortality was found and a 66 percent improvement across multiple areas in the 28 randomized control trials. Within only 10 days of publication the paper on ivermectin was rated number 13 most-read among the more than 200,000 other scientific publications that appeared during that time, Kory reports. Out of the 17.7 million papers that have been tracked by the rating source since it began, the ivermectin study is already ranked 246.

Read more …

I’ll take ivermectin instead.

Inhaled Nanobodies Could Be New Secret Weapon Against Severe Covid (RT)

In search of ways to complement jabs or to treat patients who can’t be vaccinated, scientists have tested inhalable anti-Covid nanobodies on hamsters, saying they’re effective in fighting the virus by targeting its spike protein. The promising new findings came courtesy of researchers from the University of Pittsburgh School of Medicine, marking the first time nanobodies have been tested for inhalation treatment of the coronavirus disease. Nanobodies are similar to monoclonal antibodies, widely used in certain cancer treatments, but are smaller in size and boast a lower cost of production, which may prove key to a global rollout should the treatment gain regulatory approval in future. The researchers previously identified some 8,000 nanobodies which they whittled down to just one highly effective or “ultra potent” version called Nb21, which they then bioengineered to better slot together with the SARS-CoV-2 spike protein.


Their aerosolized nanobody, named Pittsburgh inhalable Nanobody-21 (PiN-21), is said to have reduced the number of infectious virus particles in the test subject hamsters’ nasal cavities, throats and lungs by a million-fold. “We are very excited and encouraged by our data suggesting that PiN-21 can be highly protective against severe disease and can potentially prevent human-to-human viral transmission,” said co-senior author Yi Shi. The study says that hamsters who inhaled PiN-21 at the time of infection experienced no Covid-19 related weight loss, compared to the control group, which received a placebo and lost 16% of their initial body weight within a week of infection. This would be the equivalent to an adult human losing 20lbs (9kg) in one week, it said. Test subjects who inhaled PiN-21 experienced milder changes in lung structure and severely reduced inflammation following infection than the placebo group.

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‘an extraordinary amount of computer power’, ‘databases of Chinese communications, the movement of lab workers and the pattern of the outbreak of the disease around the city of Wuhan.”

US Sitting On ‘Raft’ Of Unexamined Virus Intel (ZH)

Hours after President Biden promised to release the ‘full report’ from US Intelligence community’s 90-day examination of where COVID-19 originated – unless there’s something he’s unaware of… …the New York Times reports, there’s things he’s unaware of. Namely, ‘a raft of still-unexamined evidence that required additional computer analysis that might shed light on the mystery,” according to anonymous senior administration officials. In other words, the US government has been sitting on a large collection of intelligence in perhaps the most important investigation into an economy-wrecking global pandemic, as China destroyed evidence and has refused to cooperate with international probes.

According to the report, Biden’s call for the new investigation was in response to the ‘new’ evidence. While officials declined to describe the new evidence, they are hoping to apply ‘an extraordinary amount of computer power’ to analyze what the Times speculates may be ‘databases of Chinese communications, the movement of lab workers and the pattern of the outbreak of the disease around the city of Wuhan.” Biden’s call was also meant to spur American allies and intelligence agencies to scour their own evidence, such as “intercepts, witnesses or biological evidence — as well as hunt for new intelligence,” to assess whether the Chinese government covered up what happened.

Astute readers will note that the NYT substitutes its own facts, framing any lab release as of course “accidental,” and suggesting that Biden only dismissed the lab origin theory “until the Chinese government this week rejected allowing further investigation by the World Health Organization.” In reality, plenty of evidence existed which the entire leftist establishment and their media surrogates flatly branded a ‘debunked conspiracy theory’ after then-President Trump promoted it, while the World Health Organization (WHO) and US Centers for Disease Control (CDC) parroted CCP propaganda that the virus could have only emerged via ‘natural origin’ (as opposed to the Chinese lab manipulating bat coronaviruses in the same city that the pandemic started).

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Two can play that game.

Fort Detrick Base Is Full Of Suspicions – China (RT)

Beijing has called on the US to provide an explanation for a respiratory disease in northern Virginia and a large-scale outbreak of e-cigarette disease in Wisconsin after Washington launched a new probe into Covid-19’s origins. Speaking on Thursday, Chinese Foreign Ministry spokesman Zhao Lijian asked the US to reflect on its own role in the pandemic and not “dump” responsibility on China alone. Citing the 33 million Covid-19 cases in the US and 600,000 deaths, Zhao asked “How safe is your conscience?” “I also want to emphasize that the Fort Detrick base is full of suspicions. There are more than 200 biological laboratories in the United States spreading around the world. How many secrets are there?”

The spokesman said that there was an unexplained respiratory disease in northern Virginia in July 2019 and a large-scale outbreak of e-cigarette disease in Wisconsin. “When will the US release detailed data and information on relevant cases to the international community? The United States owes an explanation to the international community.” The Maryland-based US Fort Detrick center hosts a biolab which has become a hot topic on China’s Twitter-like Weibo. In 2019, the Centers for Disease Control and Prevention decided to issue a “cease and desist order” to halt operations at the germ lab over safety concerns.

Zhao’s comment comes after US President Joe Biden said on Wednesday that he was giving intelligence agencies 90 days to pinpoint the origins of Covid-19. Biden said his administration would continue to push China to “participate in a full, transparent, evidence-based international investigation and to provide access to all relevant data and evidence.” Reinforcing a statement from the Chinese Embassy in Washington, DC on Wednesday evening, Zhao called on the US to stop “ignoring facts and science” and refrain from “repeatedly clamoring to reinvestigate China.”

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Good idea.

Rand Paul: “Fauci Cannot Investigate Himself; Get Him Under Oath” (SN)

Senator Rand Paul, who has spearheaded the renewed push to investigate the origin of the coronavirus pandemic, has called for Dr Fauci to be placed under oath and made to testify about the murky ‘gain of function’ research he was involved with funding at the Wuhan Institute of Virology. Paul also urged that Fauci “needs to be excluded from the investigation” because he is too deeply involved in the whole thing. Appearing on Fox News, Paul spoke about the funding that Fauci and the NIH supplied to China. “Well, sure it’s a lot. And there are some reports that it added up to millions over time. But the other thing he said was that there was no gain of function in the application. There are scientists who looked at the application and who absolutely and categorically disagree with him,” Paul noted.

“The other evidence that we have is Dr. Shi from the Wuhan lab published a paper that is clearly about gain of function and it that she thanks her group and Dr. Fauci for funding that paper. So there are a lot of contradictions going on,” Paul added. “I think Dr. Fauci should be made to testify under oath about the money that was given to the lab,” Paul said, adding “The good news is yesterday I passed an amendment on the Senate floor that says no more gain of function money can be sent to China.” “The bottom line, he cannot investigate himself. If he was responsible for giving this money. He has every incentive to cover it up and not reveal the truth about it because if the pandemic did come from the lab, he would have great culpability in this,” Paul further emphasised.

The Senator, who continues to receive death threats after being so vocal against Fauci, added that “he can’t be investigating this, nor can any of his people that he picks be investigating this. He needs to be excluded from the investigation.” “This is very important because this could happen again,” Paul warned, adding “I mean, they are experimenting with the SARS virus, which is 15 times more deadly than COVID-19. COVID-19 kills 1%… more than 3 million people. If SARS got out of the lab, that could be 50 million people. This is a very important task ahead of us. We have 11 labs in our country that do this kind of research.”

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Just how crazy is this? Does anyone find it normal?

California Launches Largest US Covid Vaccine Lottery Yet (G.)

California has become the latest state to offer a vaccine lottery to incentivize getting the coronavirus vaccine – launching the nation’s most valuable single prize draw: $1.5m. The state’s governor, Gavin Newsom, announced on Thursday that residents will be eligible for a total of $116.5m in prize money giveaways, a windfall aimed at getting millions more vaccinated before the nation’s most populous state fully reopens next month. The state’s reopening is pegged for 15 June, and on that day a drawing will be held to award 10 vaccinated people the top prize. Another 30 people will win $50,000 each, with those drawings starting 4 June. Anyone 12 and older who has received at least one shot will be eligible. And the next 2 million people who get vaccinated will get $50 gift cards.


The state estimates about 12 million Californians 12 and older have not been vaccinated. About 63% of the 34 million eligible have gotten shots, though the pace has slowed markedly in recent weeks as infection rates have plummeted to record lows. Ohio this week announced the first $1m winner of its “Vax-a-Million” contest, as well as the first child to win a full college scholarship. The scheme saw more than 2.7 million adults register for a chance to win. Colorado and Oregon also offered $1m prizes. New York is raffling 50 full scholarships to children 12 to 17 to public universities and colleges in the state, selecting 10 winners each of the next five Wednesdays. That California is turning to cash prizes to encourage vaccinations marks a major turnaround from earlier this year, when Californians clamored for shots, with some driving or waiting in line for hours to get one.

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Babylon Bee is on a roll.

Facebook Now Banning Anyone Who Says Virus Wasn’t Created In Wuhan Lab (BBee)

Facebook has updated its community standards today, declaring that anyone who says the COVID-19 virus wasn’t developed in the lab in Wuhan will be banned for sharing fake news. Mark Zuckerberg, may he live forever, announced the change from his royal throne today to a group of reporters gathered in his royal throne room. “Hear ye, hear ye!” Zuckerberg announced. “From henceforth, anyone saying the virus wasn’t created in a lab shall be banned! While previously, those who said the virus was created in a lab were hanged, this royal decree hereby reverses the order, and now, those who deny the obvious truth that it was created in a lab shall be declared anathema and sentenced to die!”


Zuckerberg’s royal scribes then began scrubbing the old rule from the giant Community Standards tablets displayed in the throne room and chiseling the updated rule on top. “So it is written, and so it is done!” announced Zuckerberg. And the people rejoiced and began feasting upon the lamb, and sloths, and carp, and anchovies.

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Amazon as the great defender of the minimum wage. Gutsy.

Bezos Weaponizes The Washington Post Homepage (DP)

A few years after Amazon CEO Jeff Bezos bought the Washington Post, he said it was because it “is the newspaper in the capital city of the most important country in the world” and “has an incredibly important role to play in this democracy.” Now, with more and more legislators scrutinizing his company’s business practices, his newspaper is playing that role — as an advertising platform in defense of Amazon. On Tuesday, hours after the Washington Post reported that the D.C. attorney general is bringing an antitrust lawsuit against Amazon, the front page of the Post’s website was festooned with native ads from Amazon portraying itself as a devoted supporter of a higher federal minimum wage.

The Post ads, which appeared almost like editorial content, are part of a broader campaign by Amazon highlighting its support for a $15 minimum wage. Left unsaid: Amazon only begrudgingly agreed to a higher wage for its own workers after serious public shaming. The company has also continued to bankroll corporate lobbying groups that are leading the fight against a minimum wage hike, and the Washington Post editorial board has campaigned against a $15 wage. Amazon’s ad spending with the newspaper is nothing new: The company has disclosed spending $40.5 million with the Washington Post since 2013 on advertising and digital content, including $8.1 million last year, according to its proxy statements.

The company’s latest ad on the Post homepage was designed to make the tech giant look progressive in advance of the company’s annual meeting on Wednesday and the news that it’s acquiring legendary film studio MGM. If you were casually glancing at the Post page Tuesday, you may not have realized the Amazon language was an advertisement, since portions of it were included in the Washington Post masthead banner. Text boxes in the banner said: “Since 2018, Amazon has paid at least $15/hour. It’s time to raise the $7.25 federal minimum wage.” Corey Quinn, chief cloud economist at The Duckbill Group, noted Tuesday that “these ads aren’t clearly marked as ads, and that crosses a line.”

[..] Of course, as the Washington Post headline noted when Amazon announced it would raise its minimum wage to $15, it did so “following criticism” — most prominently from Sen. Bernie Sanders, Ind.-Vt., who launched a petition to Bezos in August 2018, demanding that he pay his workers “a living wage and improve working conditions at Amazon warehouses all across the country.” Sanders also introduced the “Stop BEZOS Act,” legislation to put a 100-percent tax on government benefits received by workers at large companies, after a report by the New Food Economy found that thousands of Amazon workers were on food stamps.

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“His budget and tax hikes are headed to the gutter. Beyond infrastructure, it’s unclear if Biden can pass anything.”

Biden’s Budget Assumes a Massive Retroactive Capital Gains Tax (Mish)

Biden seeks to hike the top rate on capital gains to 43.4% from 23.8% for households with income over $1 million. He also wants to make the increase retroactive and force capital gains realization at death as well. The WSJ reports Biden’s Budget Said to Assume Capital-Gains Tax Rate Increase Started in April. • Leaders of six biggest U.S. banks, testified to Congress Thursday warning against a retroactive change. • Sen. Mark Warner (D., Va.), wants to maintain a lower tax rate for capital gains than for ordinary income. • Lawmakers from farm states, including Sen. Jon Tester (D., Mont.) and Rep. Cindy Axne (D., Iowa) have objected to the changes on capital gains at death. Biden wants to make it retroactive so that millionaires cannot accelerate gains now. And he wants to make gains taxable at death to prevent heirs from holding.

In short, Biden wants his tax hikes now and later too. He continues to appease the Progressives. Treasury Secretary Janet Yellen says the budget is sustainable because long-term yields are below the rate of inflation, conveniently held there by the Fed. The budget also assumes no recession for at least another 9 years despite the fact they happen about every 5 years on average. Finally, Biden’s budget not only assumes retroactive tax hikes but those hikes will bring in more money than the nonpartisan congressional budget office assumes. Meanwhile, Enough is Enough, a Democratic Governor Courageously Says “No More Taxes”

There is bipartisan support for about $900 billion in infrastructure spend, far short of the $2.3 trillion Biden seeks. There is no bipartisan support for tax hikes. Moreover, Biden cannot afford to lose a single Democrat Senator on any issue, but the net impact of all his tax and budget proposals suggests he has lost at least 3 Senators. His budget and tax hikes are headed to the gutter. Beyond infrastructure, it’s unclear if Biden can pass anything.

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“Banks can continue to lend money at interest in order to cover their costs, and make a reasonable profit, but they should not be permitted to create new money at interest..”

Socialism for 1% Capitalism 99% (Braund)

Banks create money by making loans to their customers. This method accounts for around 97 per cent of the money in circulation. Nearly all money is created as debt, repayable at interest. This means that all loans have to be repaid with money also created as debt and loaned at interest. No wonder the economy struggles, when the system of money creation heaps cost upon unnecessary cost. And no wonder the banks generate such enormous profits. This system, known as fractional reserve banking, is an integral part of the nexus of unearned wealth: Banks’ shareholders earn dividends from the super-profits extracted by the process of money creation; banks loan money to their own investment arms to finance speculative activities which undermine the real economy and then pay themselves unwarranted bonuses from the proceeds; and money issued as debt helps drive up asset prices, especially land, through the housing market and the market for commercial property.

Not only does the system of money issue skew the economy in favour of the already wealthy, it places an unnecessary burden on genuine entrepreneurs by charging them for the use of money. Money is not wealth, but it is required to pay for land, labour and capital. Why should enterprising businesspeople pay a premium for the use of money, when without it business is impossible? It gets worse: Through the activities of credit card companies, banks try to cover up their economic misdemeanours by lending money for consumption to those unable to earn enough to get by. This creates an impression that the economy is in good health because people keep spending. In fact, UK personal debt, at £1,452bn is roughly equivalent to the country’s GDP.

If they are to remain in private ownership, banks must be obliged to work under a revised system of full reserve banking: they should only lend money which they can fund from deposits and reserves. If the money supply needs to be increased, new money can be issued through banks by a central authority. Banks can continue to lend money at interest in order to cover their costs, and make a reasonable profit, but they should not be permitted to create new money at interest, and they should be required to compete for business by offering the best possible savings and borrowing rates to their customers. The current system of money issue widens the gap between rich and poor by concentrating its lending for investment on large corporations, while charging the economically excluded exorbitant rates on borrowing for consumption. It conspires against an optimal supply of money by ensuring that the quantity of money in circulation never reflects the amount of wealth being created, thus introducing instability into the economy and driving the damaging cycle of boom and bust.

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More Babylon Bee.

CNN Hires Trump As News Anchor To Recover Lost Viewers (BBee)

In order to bring back the viewers it’s lost since the 2020 election ended, CNN is rehiring the biggest draw for its audience: former President Trump, who will host all the news segments every night on prime time.
“What we’ve discovered since the election is people only watched our station to see Trump, so we’re hiring him to anchor our programs,” said Bob CNN, owner and founder of the cable news station. “This will finally get our ratings out of the dump.” During his first night on the job, Trump simply yelled about election fraud for two hours. “Very sad, very pathetic, worst-run election in history, maybe ever! Worse than North Korea!” he said to an audience of millions, CNN’s largest in many months.

“Frankly, any ballot cast against me is suspect. You really believe that someone would walk into an election booth and look at me and Sleepy Joe and choose Sleepy Joe? No. Can’t happen. Fake news. Not good. Sad!” After this, the rest of the hosts for the night just yelled about Trump yelling about election fraud. According to Trump, the deal was “the biggest deal in the history of television, maybe ever.” Rumors indicate that Trump was given a majority share in the company, billions of dollars, and unlimited Diet Coke. According to insiders, the headquarters of CNN will also be moved to Mar-a-Lago as part of the deal. After the announcement, CNN’s ratings skyrocketed, and they’re finally outperforming the WNBA, soccer, and Saturday Night Live.

Read more …

 

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Jan 242021
 
 January 24, 2021  Posted by at 10:19 am Finance Tagged with: , , , , , , , , , , , , ,  21 Responses »


Amedeo Modigliani Elvira Resting at a Table 1919

 

EU Vaccine Delays Dog Effort To Speed Up COVID Inoculations (EN)
Delaying Second Dose Of Vaccine Increases Risk Of New Resistant Strain – Sage (Ind.)
WHO Advisor: COVID19 Pandemic Likely Started Via Lab Leak (TSun)
‘Miraculous’ Ivermectin Approved For Use In The US For COVID19 (LS)
Lancet Retracts Study That Claimed HCQ Is Ineffective (NF)
Moderate Republicans Push Back On Biden’s Economic Plan (NBC)
Rand Paul Says Chief Justice Roberts Won’t Take Trump Impeach Trial (NYP)
Seattle Police and City Attorney Take Hardline Stance Against Antifa (PM)
Grantham Sees “Spectacular” Crash In “The Next Few Months” (ZH)
Bezos, Zuckerberg $18 Billion Richer In Biden’s First Days In Office (F.)
Jeff Bezos, Amazon Refuting Mail-in Votes For Unionization (Outkick)
Eurostar Near Collapse, Asks for Bailout, Becomes Hot Potato (WS)
Indian Farmers on the Frontline Against Global Capitalism (OffG)

 

 

 

 

“Italy’s coronavirus commissioner said that vaccinations had been cut from 80,000 a day to 28,000 a day, Italian media reported. He said Italian authorities were considering taking legal action against Pfizer..”

EU Vaccine Delays Dog Effort To Speed Up COVID Inoculations (EN)

AstraZeneca’s EU vaccine shipments will be delayed, the EU’s health commissioner said, in yet another obstacle to the bloc’s COVID-19 vaccination rollout. “The EU Commission and Member States expressed deep dissatisfaction with this,” Stella Kyriakides tweeted on Friday after member states heard from AstraZeneca representatives. The AstraZeneca/Oxford vaccine is expected to receive approval from the European Medicines Agency this week, and any delay or shortage of doses could be a significant speed bump as member states race to vaccinate their populations amid a worsening COVID-19 crisis. The emergence of more transmissible variants of coronavirus has caused significant concern in Europe with the UK reporting record daily hospitalisations and deaths due to the virus mutations.

Johnson warned on Friday that early evidence showed the new variant could be more deadly as well. Countries are racing against the clock to vaccinate as many people as possible before the variants spread further. But Pfizer said just last week that fewer doses would be available in the EU in late January and early February due to quality tests at the manufacturing plant in Belgium. Some EU countries have since had to cut vaccinations amid the delays, prompting criticism of the pharmaceutical companies behind the vaccines. Domenico Arcuri, Italy’s coronavirus commissioner, said that vaccinations had been cut from 80,000 a day to 28,000 a day, Italian media reported. He said Italian authorities were considering taking legal action against Pfizer, AP reported.

Authorities in Germany’s most populous state said that due to delays in delivery of the Pfizer/BioNtech vaccine they would halt first vaccinations. North Rhine Westphalia had received 100,000 vaccine doses less than originally planned, the state said. Germany’s health minister Jens Spahn said that “we are currently in a phase in which the worldwide demand for corona vaccines is very high.”

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Well, that’s too bad then. Because you’ve run out.

Delaying Second Dose Of Vaccine Increases Risk Of New Resistant Strain – Sage (Ind.)

Delaying doses of coronavirus inoculations will increase the chances of a vaccine-resistant strain of Covid-19 emerging, government scientists have warned. In new reports, released by the Scientific Advisory Group for Emergencies (Sage), experts also warned that resistant new variants were a “realistic possibility” driven by the virus reacting to increasing levels of natural immunity among the population. The government’s decision to delay the second dose of vaccines to 12 weeks rather than three, to try and give more people some protection from the virus, has sparked anger among frontline health workers who fear they are being left at increased risk from infections.

There have also been suggestions from Israel, that have yet to be fully validated, that the protection from a first dose could be far less than originally thought. In papers released on Friday, Sage scientists there was an “increased risk of virus replication under partial immunity after one dose than after two doses, so in the short term, delaying the second dose would be expected to somewhat increase the probability of emergence of vaccine resistance – but probably from a low base. “Is such an increase material? It is not currently possible to quantify the probability of emergence of vaccine resistance as a result of the delayed second dose, but it is likely to be small. The UK currently has more than 1,000 Covid-19-related deaths each day and has limited supplies of vaccine.

“In the current UK circumstances the unquantifiable but likely small probability of the delayed second dose generating a vaccine escape mutant must be weighed against the measurable benefits of doubling the speed with which the most vulnerable can be given vaccine-induced protection.”

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While his WHO colleagues are still in China?!

WHO Advisor: COVID19 Pandemic Likely Started Via Lab Leak (TSun)

One year after the pandemic started, World Health Organization advisor Jamie Metzl wants China to come clean about the origins of the COVID-19 virus. The Kansas City-born, New York-based Metzl, who served as Deputy Staff Director of the Foreign Relations Committee under then Senator Joe Biden (2001-2003) and before that on the National Security Council (1997-99) and the State Department (1999-01) under President Bill Clinton), theorizes it was most likely an accidental lab leak in Wuhan. “There’s no irrefutable evidence,” said Metzl, who was appointed to the WHO’s expert advisory committee on human genome editing in 2019 and is also the author of Hacking Darwin. “There’s just more evidence and as more evidence arrives, the case for accidental lab leak, in my view, increases.”

We caught up with Metzl down the line from San Miguel de Allende: What about the original theory that this all started in a wet market in Wuhan? That was a lie. And the Chinese government knew very early on that that was a lie. And so in the face of overwhelming evidence in May of last year, the Chinese government shifted its position. Do you get the idea of scary viruses being created in a lab may seem a little sci-fi? It may feel like sci-fi to people but what’s happening is sci. There is a field of study called “gain of function” research, which is highly controversial in which some scientists amplify the virility of viruses. We know that the Wuhan Institute of Virology was involved in gain of function research on bat coronaviruses.

Is it because this specifically started in China that we still don’t know how COVID-19 started? If there had been an outbreak in Congo or some country in Africa and that country, in the earliest days of the pandemic, prevented World Health Organization investigators from going onto the scene of the outbreak, for nearly a month, the world would have gone berserk. Will a change of the U.S. administration help find an answer? Biden will be tougher on China than President Trump because President Biden is very smart and strategic and he understands that American power and American strength doesn’t rest on bluster, it rests on principles, it rests on partnerships, and alliances and accountability. And the Trump administration unfortunately gave China a pass by over politicizing the question of the origin of the virus by alienating America’s partners and allies.

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So when’s the big rollout?

‘Miraculous’ Ivermectin Approved For Use In The US For COVID-19 (LS)

Following the diligent efforts of physicians associated with a group called Front Line Covid-19 Critical Care Alliance (FLCCC), the National Institutes of Health (NIH) has upgraded their recommendation for the “miraculous” drug ivermectin, making it an option for use in treating COVID-19 within the United States. The result comes one week after Dr. Paul Marik and Dr. Pierre Kory—founding members of the FLCCC, along with Dr. Andrew Hill, researcher and consultant to the World Health Organization (WHO), presented their data before the NIH Treatment Guidelines Panel. A press release from FLCCC explains the “new designation upgraded the status of ivermectin from ‘against’ [the drug’s use] to ‘neither for nor against,’ which is the same recommendation given to monoclonal antibodies and convalescent plasma, both widely used across the nation.”


“By no longer recommending against ivermectin use,” the statement said, “doctors should feel more open in prescribing ivermectin as another therapeutic option for the treatment of COVID-19. This may clear its path towards FDA [Food and Drug Administration] emergency use approval.” “Ivermectin is one of the world’s safest, cheapest and most widely available drugs,” explained Dr. Kory, President of the FLCCC Alliance. “The studies we presented to the NIH revealed high levels of statistical significance showing large magnitude benefit in transmission rates, need for hospitalization, and death. What’s more, the totality of trials data supporting ivermectin is without precedent.”

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How many lives could have been saved?

Lancet Retracts Study That Claimed HCQ Is Ineffective (NF)

A leading medical journal has issued a retraction of their endorsement for a study that concluded the anti-viral drug hydroxychloroquine was ineffective against the COVID-19 virus. This retraction appears to validate the claims then-President Trump made about the medication being a frontline drug in the battle in the pandemic. The Lancet, a respected online medical journal, issued an apology to its readers in an edition last year after the retraction. “We deeply apologize to you, the editors, and the journal readership for any embarrassment or inconvenience that this may have caused,” the publishers of The Lancet said.

Compared to the significantly more expensive medications being used to treat the virus, hydroxychloroquine – a drug widely used to treat malaria – is relatively inexpensive and universally available. Hydroxychloroquine ranges in price from $0.30 to $6.63 per dose depending on location. The Lancet’s endorsement of the study was withdrawn because the Surgisphere Corporation, the company that provided data, refused to provide full access to the information it based its study on. Peer review medical journals typically engage in third-party peer review to validate the findings. The Surgisphere Corporation said it refused to release the study data because it would violate client agreements and confidentiality requirements, raising questions about the study’s legitimacy.

“Based on this development, we can no longer vouch for the veracity of the primary data sources. Due to this unfortunate development, the authors request that the paper be retracted,” The Lancet said in a statement. In the now debunked study, researchers concluded that hydroxychloroquine didn’t aid in curbing the COVID-19 virus. It went on to say that the drug caused heart problems and appeared to elevate the risk of death. The study was immediately embraced by the beleaguered World Health Organization and other groups causing research into the use of the drug to combat COVID-19 to stop.

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Let the games ….. continue.

Moderate Republicans Push Back On Biden’s Economic Plan (NBC)

Key moderate Republicans in the Senate dismissed quick action on President Joe Biden’s top priority of a $1.9 trillion economic package, indicating that the $1,400 stimulus payments he requested could take months, or never arrive. Democrats need to convince 10 Republicans in the Senate, which might require asking for less funding than Biden initially requested, or bypassing the 60-vote threshold utilizing a parliamentarian maneuver. Biden’s team appears ready to mount an aggressive campaign to get Congress to act, a departure from the previous administration that largely failed to engage lawmakers on legislative priorities and did not spend political capital on getting bills passed.

Republicans who would be critical to get to the finish line said they’re open to additional money to speed up distribution of the Covid-19 vaccine, but balked at Biden’s overall price tag. Some called on Biden to pare back the plan while others suggested waiting a few months to see if the economic need persists. Sen. Susan Collins, R-Maine, one of the most moderate Republicans, said she’s “sympathetic” to boosting vaccine funds but doesn’t see the justification for a bill “that is so big.” “It’s hard for me to see when we just passed $900 billion of assistance why we would have a package that big,” Collins told reporters Thursday. “Maybe a couple of months from now, the needs will be evident and we will need to do something significant, but I’m not seeing it right now.”

Sen. Lisa Murkowski, R-Alaska, called Biden’s request “significant,” adding that “the ink is barely dry on the $900 billion” bill. “And so it’s going to require, I think, a fair amount of debate and consideration,” she told reporters. Sen. Mitt Romney R-Utah, a conservative who has a track record of breaking with his party, told NBC News that he isn’t inclined to borrow another $1 trillion or even $500 billion for a broad economic package. “My own view is that what’s holding back the economy is Covid, not money,” he said. “I want to do everything we can to get the Covid vaccines out. But once the Covid vaccine is out and people are inoculated, I believe you’ll see the economy coming back.”

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Stretching the law.

Rand Paul Says Chief Justice Roberts Won’t Take Trump Impeach Trial (NYP)

As Democrats plunge ahead with a post-term impeachment trial of President Donald Trump, a key question remains: Will Chief Justice Roberts take the case? Republican Sen. Rand Paul of Kentucky says he won’t — making the exercise “a fake, partisan impeachment,” the lawmaker told Fox News’ Sean Hannity Friday. Paul claimed Roberts has “privately said he’s not supposed to come unless it’s an impeachment of the president.” According to the US Constitution, “when the President of the United States is tried, the Chief Justice shall preside” — a requirement not made for any other impeachment case. As lawmakers debated the legitimacy of impeachment, the Biden administration continued to keep its distance from the issue.

“Congress is going to do what Congress does,” Ashley Etienne, Vice President Kamala Harris’ communications director, told MSNBC Saturday. One thing Trump enemies in Congress appear to be doing is grasping at straws — even reaching back to a post-Civil War amendment. Several Dems have floated the idea of punishing Trump with the 14th Amendment’s rule that shuts those who “engaged in insurrection or rebellion” out of elective office. “I certainly think there is a 14th Amendment avenue separate and aside from impeachment,” Connecticut Sen. Chris Murphy told The Hill.

But the stricture, which was written to prevent former Confederate loyalists from regaining power as the United States struggled through Reconstruction, has not been used since — and would spark a long judicial battle if Congress attempted to invoke it, legal experts say. Meanwhile, with Trump no longer in the White House, Republicans like Paul continued to deride the impeachment as “an illegitimate procedure.” Roberts, who has not said publicly whether he will preside over the trial, has two more weeks to decide. After the House of Representatives’ impeachment managers on Monday read their articles of impeachment accusing Trump of inciting the deadly Jan. 6 riot, the Senate will delay the trial until the week of Feb. 8 so that President Biden can get his administration up and running, Majority Leader Chuck Schumer announced Friday.

If Trump is convicted with a two-thirds majority of the Senate, Schumer could call for a second vote, this one requiring only a simple majority, barring him from holding elective office again. But conviction will require the votes of at least 17 Senate Republicans — an increasingly remote possibility, as more party members climb aboard Paul’s argument that only a sitting president can be impeached. “It’s going to be tough to get even a handful” of GOP defectors, Sen. Mike Braun (R-Ind.) told CNN — because “everybody has views that it’s kind of a constitutional concern.”

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The Seattle Times never mentions the term Antifa. It’s just an idea.

Seattle Police and City Attorney Take Hardline Stance Against Antifa (PM)

As Antifa militants take to Seattle’s streets on a near-daily basis following the inauguration of President Joe Biden, the city’s police and Seattle City Attorney Pete Holmes are responding with a promise to bring the hammer down on violent protesters. In an announcement on Saturday, the city’s interim police Chief Adrian Diaz announced that his department is coordinating with the city attorney to enact a strict new policy to arrest and prosecute protesters who destroy property during street demonstrations. Diaz said that the new enforcement policy will take effect this Saturday, when a demonstration has been planned for Occidental Square. Prosecutions will increase under the new order.

In his speech, Seattle’s top cop said that he has wanted to crack down on the violent militants for months, and that its becoming clear following Biden’s inauguration that their protests have no real cause. “They’re focused on breaking windows, and these are things we need to work on,” he said, reported Seattle Times. A spokesperson for the police said that suspects in low-level crimes were not even booked into jail last year due to coronavirus concerns, and that the policy of not booking those who commit misdemeanors is unlikely to change. However, individuals released on bail who are re-arrested will likely be prosecuted now. Diaz said that police will take a hardline approach to repeat offenders.

“We will be prosecuting these crimes from now on,” he said. “When we don’t have any form of accountability for people — and many of them are coming from outside the city — they will continue to do that activity, and we can’t have that.” In addition to the prosecutions, police will be deploying in extra numbers starting Saturday and will coordinate law enforcement efforts with the Washington State Patrol and federal agents to prevent protesters from entering freeways and federal buildings. “We would like to protect buildings from being vandalized in the first place, and don’t want to cause undue conflict. It’s safer for protesters and officers to not be drawing that line, so to speak,” said Diaz. Earlier this week, Antifa rioters vandalized and looted the historic Starbucks, a Democratic Party office, and numerous local businesses in protest of the newly inaugurated president.

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“stimmy” checks.

Grantham Sees “Spectacular” Crash In “The Next Few Months” (ZH)

Two weeks ago, investing icon Jeremy Grantham turned apocalyptic and warned that the “Bursting Of This “Great, Epic Bubble” Will Be “Most Important Investing Event Of Your Lives.” Since then the market has generally continued to melt up, yet Grantham’s conviction that all this will end in tears has only grown, and in an interview with Bloomberg today, the co-founder of GMO who correctly called the last two crashes, now predicts that Joe Biden’s economic-recovery plan will propel stocks to perilous new heights, followed by an inevitable crash. “We will have a few weeks of extra money and a few weeks of putting your last, desperate chips into the game, and then an even more spectacular bust,” the value-investing legend said in a Bloomberg “Front Row” interview.


“When you have reached this level of obvious super-enthusiasm, the bubble has always, without exception, broken in the next few months, not a few years.” Amid market euphoria the likes of which have – literally – never been seen before as the following chart from Citi shows and which prompted Citi, BofA and Goldman to all warn that a selloff appears imminent, and which was fueled by risk-taking behavior funded by the latest round of pandemic-relief checks, Grantham has “no doubt” at least some of the $1.9 trillion in federal aid Biden is seeking from Congress will end up being spent on stocks instead of food or shelter.

While that will help push stocks even higher, Grantham then sees it all ending in tears, or rather a collapse rivaling the 1929 crash or the dot-com bust of 2000, when the Nasdaq cratered 80% before recovering thanks to trillions more in Fed “stimmy” checks. And while some (increasingly fewer) investors claim that today’s valuations are justified by the growth potential of transformative technologies and new business models, Grantham, 82, dismisses that argument as fanciful, and rejects the popular theory that the Federal Reserve can cushion or even the next crash with even more QE or easing. “At the lowest rates in history, you don’t have a lot in the bank to throw on the table, do you?” he said.

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How much more stimulus do we need to keep making them richer? It will stop somewhere.

Bezos, Zuckerberg $18 Billion Richer In Biden’s First Days In Office (F.)

The world’s richest person, Jeff Bezos, had a very good week. The Amazon CEO got $10 billion richer, bringing his net worth to $191.5 billion. He’s got an $8.3 billion lead over Tesla CEO Elon Musk (net worth: $183.2 billion), who briefly claimed the top spot this month before falling back to second place. Even better for Bezos? His boost this week comes in part thanks to the departure of Donald Trump, a constant critic of Amazon and the Bezos-owned Washington Post. President Joe Biden was inaugurated on Wednesday, sending tech stocks soaring on optimism over his administration’s Covid-19 vaccine and stimulus plans.


Amazon ended the week up 6.1%, Facebook gained 9.2% and Google parent Alphabet rose 9.5%, beating the S&P and Dow Jones Industrial Average’s weekly gains of 2% and 0.5%, respectively. On Inauguration Day, Amazon executive Dave Clark sent a letter to Biden offering Amazon’s resources to help distribute the vaccine. “We are prepared to leverage our operations, information technology, and communications capabilities and expertise to assist your administration’s vaccination effort,” he wrote. Clark also took the opportunity to advocate prioritizing vaccinating Amazon’s 800,000 employees, most of whom are essential frontline workers.

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Ha ha ha.

Jeff Bezos, Amazon Refuting Mail-in Votes For Unionization (Outkick)

Jeff Bezos — a strong Democratic supporter — and Amazon are aiming to postpone a unionization vote at one of its warehouses in Alabama, the Wall Street Journal reports. Interestingly, Amazon has requested that the National Labor Relations Board reconsider allowing mail-in voting, claiming that the mail-in voting process has “serious and systemic flaws.” Got that? Bezos and Amazon are doing all they can to prevent any shady activity when workers cast their ballots for unionization, and they are particularly concerned about the integrity of mail-in ballots. You are likely trying to figure out how that adds up, right? The Washington Post, owned by Bezos, called any claims of mail-in voter fraud by Donald Trump and his supporters dangerous and inexcusable.

Amazon even banned Parler from its servers, in part to ensure no one could claim voter fraud occurred from mail-in ballots back in November. But stop trying to make it make sense. It is not supposed to add up. In this case, mail-in voting is disadvantageous for Bezos and his e-commerce behemoth. Therefore, they now consider mail-in voting seriously flawed. An Amazon spokesperson tells CNN the company is seeking a “valid, fair and successful election” and suggests that only in-person voting can ensure that. Hmm, interesting perspective. Amazon has, thus far, fended off unions in the United States. If a majority of ballots vote in favor of unionization, hourly Amazon workers would send an L right up to Bezos’ office.

Bamazonunion.com explains that a union at Amazon would “give us the right to collectively bargain over our working conditions including items such as safety standards, training, breaks, pay, benefits, and other important issues that would make our workplace better.” The NLRB says, “A mail ballot election will enfranchise employees who cannot enter the voting location for health reasons or due to positive COVID tests.” Fearing an unfavorable outcome, however, Amazon now insists that current COVID outbreaks aren’t dangerous enough to warrant this NLRB decision.

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In a train in a tunnel with COVID. No thanks.

Eurostar Near Collapse, Asks for Bailout, Becomes Hot Potato (WS)

Eurostar, the company that operates the cross-Channel train service that connects the UK with France, Belgium and the Netherlands, is on the brink of collapse, the company’s management warned this week. With passenger numbers down 95% in the final quarter of 2020 and revenues down over 80% over the course of 2020, it is now “on a drip” and in desperate need of extra cash, says Christophe Fanichet, a senior executive of France’s state SNCF railways, which is the majority shareholder of Eurostar. “I’m very worried about Eurostar. The company is in a critical state, I’d even say very critical,” he said.

In 2019, Eurostar shuttled 11 million passengers — including many businessmen and women — from London St Pancras to Paris, Brussels, and Amsterdam. While generally more expensive than budget air fares, it is quicker, more comfortable, and drops off passengers in the center of their chosen city of destination. But like the airlines, its whole business model has been upended by the virus crisis. At present, the company is operating only two services a day, a far cry from the two trains an hour it used to operate during peak times before the pandemic. And most of those trains are less than a quarter full. More than 90% of its workers have been furloughed.

It’s a similar story across Europe’s railway sector. Passenger numbers have plunged between 70%-90% as lockdowns, social-distancing rules, and concerns about the risks of using public transport have taken their toll. The industry is estimated to have racked up losses of €22 billion in 2020, according to CER, a Brussels-based commerce group representing passenger and freight prepare operators. That’s similar to the total losses accrued so far by Europe’s airlines. Thousands of workers are on government-subsidized furloughs. “It’s a totally extraordinary situation,” said Libor Lochman, CER’s executive director. “There is no comparison for it, and it can and will lead to the bankruptcy of a number of companies, unless there is the political will to prevent it”.

Just as happened last Spring, travel restrictions are tightening across Europe and borders are closing as countries try to counter the spread of new strains of the Covid-19 virus. France announced on Thursday that visitors from the UK, which is no longer part of the EU, will need to observe a seven-day quarantine and undertake a PCR test on their arrival. The UK already has a quarantine system in place for travelers from the EU. These latest travel restrictions have compounded Eurostar’s woes. It could run out of money by April, according to industry sources. To stave off that fate, the company is asking for government support of the kind already doled out to many airlines. Eurostar has already tapped shareholders for €200 million and is apparently loath to do so again, particularly given the recent tightening of travel restrictions.

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Monsanto.

Indian Farmers on the Frontline Against Global Capitalism (OffG)

In the above short video on the empirediaries.com YouTube channel, a protesting farmer camped near Delhi says that during lockdown and times of crisis farmers are treated like “gods”, but when they ask for their rights, they are smeared and labelled as “terrorists”. He, along with thousands of other farmers, are mobilising against three important pieces of farm legislation that were recently forced through parliament. To all intents and purposes, these laws sound a neoliberal death knell for most of India’s cultivators and its small farms, the backbone of the nation’s food production. The farmer says: “Corporates invested in Modi before the election and brought him to power. He has sold out and is an agent of Ambani and Adani. He is unable to repeal the bills because his owners will scold him. He is trapped. But we are not backing down either.”

He then asks whether ministers know how many seeds are needed to grow wheat on an acre of land: “We farmers know. They made these farm laws sitting in air-conditioned rooms. And they are teaching us the benefits!” While the corporations that will move in on the sector due to the legislation will initially pay good money for crops, once the public sector markets (mandis) are gone, the farmer says they will become the only buyers and will beat prices down. He asks why, in other sectors, do sellers get to put price tags on their products but not farmers: “Why can’t farmers put minimum prices on the crops we produce? A law must be brought to guarantee MSP [minimum support prices]. Whoever buys below MSP must be punished by law.”

The recent agriculture legislation represents the final pieces of a 30-year-old plan which will benefit a handful of billionaires in the US and in India. It means the livelihoods of hundreds of millions (the majority of the population) who still (directly or indirectly) rely on agriculture for a living are to be sacrificed at the behest of these elite interests. Consider that much of the UK’s wealth came from sucking $45 trillion from India alone according to renowned economist Utsa Patnaik. Britain grew rich by underdeveloping India. What amount to little more than modern-day East India-type corporations are now in the process of helping themselves to the country’s most valuable asset – agriculture.

According to the World Bank’s lending report, based on data compiled up to 2015, India was easily the largest recipient of its loans in the history of the institution. The World Bank thus exerts a certain hold over India: on the back of India’s foreign exchange crisis in the 1990s, the IMF and World Bank wanted India to shift hundreds of millions out of agriculture. In return for up to more than $120 billion in loans at the time, India was directed to dismantle its state-owned seed supply system, reduce subsidies, run down public agriculture institutions and offer incentives for the growing of cash crops to earn foreign exchange. The plan involves shifting at least 400 million from the countryside into cities.

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Sep 152020
 
 September 15, 2020  Posted by at 9:37 am Finance Tagged with: , , , , , , , , , ,  14 Responses »


Otto Dix The Triumph of Death 1934

 

Scientists Discover Antibody That ‘Neutralizes’ Coronavirus (Fox)
Research From 23andMe Strengthens Link Between Blood Types And COVID19 (STAT)
Vitamin D Supplements ‘Could Keep COVID19 Patients Out Of Intensive Care’ (DM)
Cuba Punches Above Weight With ‘White Coat Army’ During Pandemic (R.)
Convergence of Quandaries (Jim Kunstler)
Stop The Coup! (TAM)
Poll Claims Debunked Atlantic Story Changed Voters’ Minds About Trump (BPR)
Trump Connects The Generals And The Military-Industrial Complex (AC)
Inequality Robs $2.5 Trillion From U.S. Workers Each Year
Bezos Doubles Wealth as Amazon Essential Product Prices Rise 1000% (MPN)
Time Is Ripe For China To Free Up Controls On Yuan’s Convertibility (SCMP)
Merkel Calls For EU Support For Greece Over Moria (K.)
Germany Plans To Take In 1,500 Refugees From Greek Islands (R.)
Australia Politics, Media Silent On Sadistic British Assange Show-Trial (WSWS)

 

 

 

 

 

 

 

 

 

 

 

 

How do we turn this into the biggest possible profit?

Scientists Discover Antibody That ‘Neutralizes’ Coronavirus (Fox)

Scientists at the University of Pittsburgh School of Medicine have isolated “the smallest biological molecule” that “completely and specifically neutralizes” SARS-CoV-2, the virus that causes the novel coronavirus. The antibody component is 10 times smaller than a full-sized antibody, and has been used to create the drug Ab8, shared in the report published by the researchers in the journal Cell on Monday. The drug is seen as a potential preventative against SARS-CoV-2. According to the report, the drug has been “highly effective in preventing and treating” the SARS-CoV-2 infections in mice and hamsters during tests. The drug also reportedly does not bind to human cells, which suggests it will not have negative side-effects in people.


“Ab8 not only has potential as therapy for COVID-19, but it also could be used to keep people from getting SARS-CoV-2 infections,” said co-author John Mellors, chief of the Division of Infectious Diseases at Pitt and UPMC. “Antibodies of larger size have worked against other infectious diseases and have been well tolerated, giving us hope that it could be an effective treatment for patients with COVID-19 and for protection of those who have never had the infection and are not immune.” [..] According to the report, the team at University of Texas Medical Branch Center for Biodefense and Emerging Diseases and Galveston National Laboratory tested Ab8 and found it blocked the virus from entering cells. In mice trials, those treated with Ab8 had 10-fold less of the amount of infectious virus compared to those that were untreated.

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“A little more than 11% of the people in 23andMe’s studies said they were Latino; less than 3% said they were Black.”

Research From 23andMe Strengthens Link Between Blood Types And COVID19 (STAT)

A forthcoming study from genetic testing giant 23andMe shows that a person’s genetic code could be connected to how likely they are to catch Covid-19 — and how severely they could experience the disease if they catch it. It’s an important confirmation of earlier work on the subject. People whose blood group is O seemed to test positive for Covid-19 less often than expected when compared to people with any other blood group, according to 23andMe’s data; people who tested positive and had a specific variant of another gene also seemed to be more likely to have serious respiratory symptoms. The study, which was released on a preprint server and which has not yet been peer-reviewed, could extend and confirm earlier work on the subject; 23andMe’s study relied on a larger dataset than earlier work and included a more diverse set of participants, the company said.

Experts who aren’t affiliated with 23andMe praised the study design and the work. “They clarify further what our data could only vaguely hint at,” said Tom Hemming Karlsen, a physician at Oslo University Hospital who published an article in the New England Journal of Medicine on genetic links with Covid-19 severity in June, and who was not associated with 23andMe’s work. But the outside experts also cautioned that the research won’t change treatment decisions. “It doesn’t have practical implications. There’s no treatment decisions that will be made from it — it’s just an interesting finding,” said Jennifer Lighter, a pediatrician and epidemiologist at NYU Langone who was not involved in the research. Unlike the study Karlsen and his colleagues ran, which only included people with severe Covid-19 symptoms, 23andMe included people who had both mild and severe cases — which allowed them to draw stronger conclusions, Karlsen said.

The company’s study participants are also more diverse than Karlsen’s, which only studied people in Spain and Italy. However, the 23andMe study’s demographics still don’t fully reflect the population of the United States. A little more than 11% of the people in 23andMe’s studies said they were Latino; less than 3% said they were Black. (Latinos represent about 16% of the U.S. population, while Black people account for about 13% of the population.) Both Karlsen and 23andMe’s team found that the genes that code for a person’s blood type seemed to be linked to whether a person would test positive for Covid-19; another section of chromosome 3 — referred to in both papers as chr3p21.31 — seemed to be linked to how severe a person’s response would be to a Covid-19 infection.

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Disregard the dissing of HCQ. Just take your Vit. D.

Vitamin D Supplements ‘Could Keep COVID19 Patients Out Of Intensive Care’ (DM)

Treating coronavirus patients with high doses of vitamin D supplements could help keep them out of intensive care, a study has suggested. Researchers gave high doses of calcifediol – a type of vitamin D supplement – to 50 patients hospitalised with Covid-19 in Spain. They were given 100 micrograms of the supplement over the course of a week, with 55mcg on the first day and then two booster doses of 27mcg on days three and seven. The dose was higher than the 70mcg weekly limit recommended by the NHS. Scientists compared the participants’ health with 26 volunteers in a control group who were not given the tablets, which are normally prescribed to patients with thyroid or kidney problems.

Just one patient given calcifediol fell ill enough to be admitted to intensive care, whereas half of the participants in the control group were taken to ICU and two died. There were no deaths among volunteers receiving the vitamin and all 50 patients were eventually discharged by the end of the study. Experts now believe Covid-19 causes a catastrophic build-up of a chemical called bradykinin, which makes blood vessels leaky and drives up the risk of inflammation. Calcifediol is one of the few hormones which regulates the bradykinin and it can also prevent the immune system from going into overdrive. Researchers have been divided over whether a vitamin D deficiency, which is vital to the immune system, can raise the risk of dying of Covid-19.

Some scientists suggested that it may be one of the reasons black people face a higher risk of dying from the illness, because they do not produce as much of the vitamin naturally. Taking too much vitamin D can cause bone and organ damage over time, however, and scientists discouraged people from trying to self-medicate. For the study, researchers from the University of Cordoba in Spain and research university KU Leuven in Belgium monitored 76 hospital patients with Covid-19. Fifty of the patients were randomly assigned to have calcifediol tablets, along with normal care. Twenty-six volunteers were put in a control group who only received standard care, to compare the treatment to. Because the study was conducted several months ago, the standard care for coronavirus in Spain was hydroxychloroquine and azithromycin. These two drugs have since been proven ineffective at treating the virus.

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I think maybe this is exactly Cuba’s weight.

Cuba Punches Above Weight With ‘White Coat Army’ During Pandemic (R.)

At the start of Togo’s coronavirus outbreak, the small West African nation welcomed a team of 12 Cuban healthcare workers to tend to sufferers of the virus, boost its laboratory testing and help improve its hospital protocols. While the virus was overwhelming healthcare systems worldwide, the Communist-run Caribbean island boasted a rare resource: a surplus of doctors trained in deploying abroad and battling infectious disease. And it was willing to dispatch them all over the globe to nations requesting help. “As scientific and medical circles groped in the dark, Cuban medicine, strong from past experiences, brought appropriate answers,” said the head of cooperation at Togo’s foreign ministry, Charles Azilan.

Nearly 40 countries across five continents have received Cuban medics during the pandemic, as the island nation – home to just over 11 million inhabitants – has once more punched far above its weight in medical diplomacy. Since its 1959 leftist revolution, Cuba has dispatched its “army of white coats” to disaster sites and disease outbreaks around the world in the name of solidarity. In the last decade, they have fought cholera in Haiti and Ebola in West Africa. Not that its brigades are purely altruistic. Cuba has exported doctors on more routine missions in exchange for cash or goods in recent decades, making them its top source of hard currency. While some countries have received the medics for free during the pandemic, others are paying: a slight boon to Cuba’s economy struggling with the coronavirus-induced collapse in tourism.

[..] With financial aid from its former ally the Soviet Union, Cuba built up a healthcare system that was the envy of the developing world under the leadership of the late Fidel Castro. Some of those advances have been lost since the communist bloc collapsed. Many hospitals are run down, medicines are in short supply and Cubans complain about a decline in the quality of medical training. Still, Cuba has one of the highest ratios of physicians per capita in the world and even before pandemic struck, had some 28,000 medics deployed globally. It has since dispatched a further 4,000.

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“The country is now out of its mind… echoes of France, 1793… a rhyme, not a reprise.”

Convergence of Quandaries (Jim Kunstler)

The orgy of political hysteria, insane thinking, and violence is a psychotic reaction to the collapsing techno-industrial economy — a feature of it, actually. When all familiar social and economic arrangements are threatened, people go nuts. Interestingly, the craziness actually started in the colleges and universities where ideas (the products of thinking) are supposed to be the stock-in-trade. The more pressing the practical matters of daily life became, the less intellectuals wanted to face them. So, they desperately generated a force-field of crazy counter-ideas to repel the threat, a curriculum of wishful thinking, childish utopian nostrums, and exercises in boundary-smashing. As all this moved out of the campuses (the graduation function), it infected every other corner of American endeavor, institutions, business, news media, sports, Hollywood, etc. The country is now out of its mind… echoes of France, 1793… a rhyme, not a reprise.


The US economy began a slow and insidious collapse because its petroleum energy base became unaffordable. The reality of that was obscured by paradoxical appearances: the shale oil miracle goosed up US oil production from under five million barrels-a-day in 2007 to thirteen million barrels-a-day in 2019. Pretty awesome. Seemed like we were awash in oil. The problem was the companies producing shale oil couldn’t make money at it, and the loans that went into staging the shale oil “miracle” went bad… and then the companies couldn’t get new loans… and went bankrupt. So, the crash of US oil production is a self-reinforcing feedback loop that is sure to continue and will make things worse. Now, less than a year after reaching that majestic 13 million barrels-a-day, production has fallen to around 10 million a day — quite an impressive drop.

Further obscuring the actual dynamic in play, gasoline prices at the pump are quite low — under $2.50-a-gallon where I live, compared with $4-plus a couple of years ago — and most citizens consider the price of gasoline their sole index of how things are going in the oil industry. The Covid-19 pandemic has aggravated and accelerated the damage from that by shutting down much of small business across America since March. The businesses and people who owned them have suffered terribly. That and the public lockdowns have greatly depressed the demand for oil products, driving the price-per-barrel down and reducing the cash flow of the oil companies. That also aggravated worsening relations with our principal trading partner, China, the net effect of which threatens the supply chain for all sorts of critical parts and products needed to keep our complex systems running.

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“Oh, but one more thing: America needs to understand that while it might very well look like Trump won on election night, due to our new rules votes will be counted for weeks afterward and then our candidate will probably win.”

Stop The Coup! (TAM)

Michael Anton’s new article “The Coming Coup?” went viral almost as soon as we posted it a week ago today. This is not simply because figures like Lara Logan, Mollie Hemingway, Newt Gingrich, Dan Bongino, and the editors of the New York Post took note. It spread because concerned citizens began sharing it throughout the nation. We could tell it was especially effective because so many in the mainstream media maintained studious radio silence. But hyperventilating ruling-class supporters of the Biden/BLM/Antifa coalition did predictably lash out. The epitome of these reactions is an article in New York magazine’s Intelligencer, by political columnist Ed Kilgore, entitled “Trump Backers Make Case for Stealing Election, Before Biden Gets the Chance.”

The title itself reveals the stubborn simplicity of the Democratic Party’s coup narrative. Their elites have worked themselves and their base into a frothing lather of existential fright. In article after article, liberal intellectuals and activists have been talking for months about how Trump could steal the election or refuse to leave the White House even if he loses. But if the Right dares to point out that Democrats are actually changing the rules of the electoral process and actually speaking publicly about refusing to concede even if they lose, well, this only proves that the Right is going to steal the election and refuse to concede if they lose! In reality, of course, Anton and others are simply trying to shine a light on what Democrats are now openly declaring in public.

Kilgore frames Anton’s essay as part of an effort among conservatives to spread the craaaazy idea that Democrats’ obsessive focus on mail-in voting is part of a panicky effort to throw the election, not a good-faith scheme to protect people from coronavirus. Let’s leave aside the fact that no less an establishment authority than the Atlantic admits the voting booth is as safe as the grocery store. In fact, says Kilgore, echoing the new establishment narrative, so many legitimate Biden votes may come flooding in by mail after the in-person voting is through that the election will turn around all on its own. Every major media outlet is now full of supposed expert authorities – even Mark Zuckerberg recently got into the act – telling the American people that the rule changes Democrat apparatchiks are pushing throughout the nation are totally normal.

But as elections expert Hans Von Spakovsky pointed out in these pages, “what is clear from all of these lawsuits is that the Democrats and these organizations are trying to change the rules governing the administration of the November election” midstream while Republicans are trying to “preserve the status quo.” (If you want to understand what the Democrats are up to, give Spakovsky’s “Democrats Versus the Vote” a close read.) Kilgore likes to present himself as a reasonable man. But how are voters supposed to respond when the message from the Democrat Party is “our lawsuits to change the way we’ve always voted in the middle of a tumultuous election season are not part of a partisan cheat. Oh, but one more thing: America needs to understand that while it might very well look like Trump won on election night, due to our new rules votes will be counted for weeks afterward and then our candidate will probably win.”

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Can the media keep itself from making Biden look like he’s winning? Wouldn’t that make people less likely to vote?

Poll Claims Debunked Atlantic Story Changed Voters’ Minds About Trump (BPR)

A new poll from Left-wing Yahoo News and YouGov says that a discredited story by The Atlantic earlier this month claiming that President Donald Trump disparaged American war dead and “misled” about COVID-19 has changed peoples’ minds about supporting him in November. Now, allegedly because of the “bombshell” revelations in the story, some voters have shifted their support to Trump’s Democratic rival, Joe Biden. “Donald Trump has fallen further behind Joe Biden following bombshell reports that the president knowingly misled Americans about the dangers of COVID-19 and privately disparaged dead U.S. soldiers as ‘suckers’ and ‘losers,’ according to a new Yahoo News/YouGov poll,” Yahoo News reported Friday. Subsequent reporting indicates that neither of those claims are true.

Several current and former White House officials who were with the president during a 2018 visit to France — when the reported disparaging of American World War I dead was alleged to have happened — disputed Atlantic editor Jeffrey Goldberg’s story. Included on that list is former National Security Adviser John Bolton, who is no fan of the president. As to the claims about coronavirus, while President Trump reportedly told Washington Post correspondent and author Bob Woodward he tried to downplay the severity of COVID-19 so as not to cause panic, he nevertheless warned Americans early on the disease was serious and took several measures — including shutting off most travel to and from China, where the virus originated — very early on.

That said, according to Yahoo News, support for Trump has allegedly tanked: “The survey, which was conducted from Sept. 9 to 11, shows Biden leading Trump by 10 percentage points among registered voters, 49 percent to 39 percent. The previous Yahoo News/YouGov poll found Biden ahead by just 6 points immediately after the Republican National Convention. The results suggest that a week of unrelenting and unflattering revelations about Trump — from the Atlantic report on his alleged contempt for Americans wounded or killed in war (which appeared on Sept. 3) to Bob Woodward’s recordings of Trump admitting he downplayed the deadliness of COVID-19 (released on Sept. 9) — has damaged the president’s standing with voters.”

The survey itself is suspect. For one, it polled “registered voters,” which are less accurate than “likely voters” and tend to skew towards Democrats, according to FiveThirtyEight. In fact, the Yahoo News/YouGov poll skewed heavily towards Democrats. On the issue of favorable views towards Biden and Trump, pollsters oversampled Democrats to Republicans, 366 to 220, respectively. The poll’s claims about which candidate has more respect for the military seems suspect as well. “Asked which candidate shows more respect for the military, 50 percent of registered voters name Biden, compared to 39 percent for Trump. By the same margin, voters say Biden would do a better job leading the military than the current commander in chief,” Yahoo News reported.

Biden runs for reelection

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Smedley Butler.

Trump Connects The Generals And The Military-Industrial Complex (AC)

Once again, the whispers of phantoms masquerading as administration officials have attempted to put Donald Trump on the defensive only two months before the fall election. And in typical fashion, the roused president has gone on an immediate rhetorical offensive. Trump has doubled down on his affirmations towards the U.S. military and the American soldier, while simultaneously confronting the class of generals who command them. “I’m not saying the military’s in love with me—the soldiers are,” Trump said at a Labor Day press conference. “The top people in the Pentagon probably aren’t because they want to do nothing but fight wars so that all of those wonderful companies that make the bombs and make the planes and make everything else stay happy.”

This is a dramatic shift in perspective from the man who spent the first two years of his presidency surrounding himself with top brass like Michael Flynn, John Kelly, H.R. McMaster, and James Mattis (along with almost being beguiled into nominating David Petraeus as Secretary of State). Perhaps Trump learned the hard way that the generals of the forever wars don’t measure up to the twentieth-century soldiers he adulated growing up. For instance, when George Marshall oversaw the deployment of 8.3 million GIs across four continents in World War II, he did so with the assistance of only three other four-star generals. In retirement, Marshall refused to sit on any corporate boards, and passed on multiple lucrative book deals, lest he give the impression that he was profiting from his military record. As he told one publisher, “he had not spent his life serving the government in order to sell his life story to the Saturday Evening Post.”

[..] General James “Mad Dog” Mattis, in between his forced retirement from the Marine Corps and appointment as Secretary of Defense, joined the board of General Dynamics where he was paid over a million dollars in salary and benefits. Returning to public life, Mattis then spent two years cajoling President Trump into keeping the U.S. military engaged in places as disparate as Afghanistan, Syria, and Africa. “Sir, we’re doing it to prevent a bomb from going off in Times Square,” Mattis told his commander-in-chief. Left unsaid was that a strategic withdrawal would also lead to a precipitous decline in Mattis’ future stock options, which he regained after he rejoined General Dynamics following his December 2018 resignation.

That resignation might have been premature, however. It was only a matter of weeks before Trump’s announced withdrawal from Syria, the impetus for Mattis’ departure, was reversed. Hundreds of U.S. soldiers continue to illegally occupy the north-east of the country. That’s in addition to the thousands of Americans still kicking dust in Iraq and Afghanistan, contrary to the president’s “America First” pledge. And Trump is as guilty as any of his subordinates when it comes to coddling the military-industrial complex, gushing over billion dollar arms deals and their manufactured jobs numbers. It remains to be seen whether his latest announcement of a partial withdrawal from Iraq by the end of the month will turn out as phony as the others.

Trump’s language more closely resembles that of Major General Smedley Butler, who at the time of his death was the most decorated marine in U.S. history. “The professional soldiers and sailors don’t want to disarm. No admiral wants to be without a ship. No general wants to be without a command. Both mean men without jobs. They are not for disarmament. They cannot be for limitations of arms,” Butler wrote in his 1935 book War is a Racket. To eliminate this corrupting influence, Butler advocated an egalitarian price control to prevent the arms industry—and their pet generals—from profiting off the blood of American boys. “Let the officers and the directors and the high-powered executives of our armament factories and our steel companies and our munitions makers and our shipbuilders and our airplane builders and the manufacturers of all the other things that provide profit in war time as well as the bankers and the speculators, be conscripted—to get $30 a month, the same wage as the lads in the trenches get.”

How do you spin war?

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A study on inequality from the RAND Corporation. No irony at all.

Inequality Robs $2.5 Trillion From U.S. Workers Each Year

Every few months, some group of socially conscious number crunchers will remind Americans that a tiny elite is binge-eating the nation’s economic pie while the rest of us plebeians fight over table scraps. Journalists will then aggregate eye-popping statistics and edifying charts, progressives will share these over social media, adorned with red-faced (and/or guillotine) emoji — and the moral arc of history will carry on bending toward neofeudalism. So, in the present moment of booming stock markets and child hunger, you might be feeling too inured to America’s grotesque levels of inequality to summon much interest in yet another report testifying to the one percent’s total victory in the 50 Years Class War.


But a new study from the Rand Corporation, in partnership with the Fair Work Center, illustrates the impact of a half-century of upward redistribution in bracingly concrete terms: If income had been distributed as evenly over the past five decades as it was in 1975, the median full-time worker in the U.S. would enjoy annual earnings of roughly $92,000 a year. As is, that worker makes just $50,000. It’s no secret that wage and productivity growth began decoupling in the 1970s. Charts like this one from the Economic Policy Institute have been ubiquitous in progressive economic policy debates since the Great Recession:

But RAND’s innovative methodology — which involved constructing a new metric for inequality that compares income growth to GDP, and then using that metric to gauge changes in the income distribution across every U.S. business cycle since 1975 — allowed it to translate the abstractions of macro-level income shares into something much more tangible. Between the mid-1970s and 2018, per capita GDP growth in the U.S. increased by 118 percent. Had income growth on every rung of America’s class ladder kept pace with those gains, annual earnings at the bottom would be nearly twice as high as they are now. Meanwhile, the bottom 90 percent of U.S. earners would collectively take home $2.5 trillion more in income each year.

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“there is no place for price gouging on Amazon..”

Bezos Doubles Wealth as Amazon Essential Product Prices Rise 1000% (MPN)

A new report from advocacy group Public Citizen details how retail giant Amazon “misled the public, law enforcement, and policymakers about price increases during the pandemic,” raising their prices on essential products “to levels that would be considered violations of price gouging laws in many states.” The prices of many products in high demand during the pandemic jumped by over 1,000 percent when compared to this time last year. As accusations of price gouging began, Amazon blamed “bad actors,” declaring in an official statement that, “there is no place for price gouging on Amazon,” committing itself to “working vigorously” to ensure fair pricing, and “collaborating with federal, state, and local law enforcement agencies” to “hold price gougers accountable” and to protect the interests of their customers. Yet Public Citizen’s report found that “Amazon is engaged in price gouging on products it sells directly” itself, through its Amazon Essentials line. Disposable face masks and corn starch were the most inflated prices, jumping elevenfold from earlier in the year.

Below is a list of ten Amazon Essential products tracked, including the percentage the items increased in cost. Similar price rises were tracked among third party sellers on the platform as well.
Disposable face masks — 1,000%
Hand sanitizer — 48%
Disinfectant spray — 87%
Antibacterial soap — 470%
Disposable nitrile gloves — 336%
Toilet paper — 528%
Paper towels — 303%
Flour — 425%
Sugar — 520%
Corn starch — 1,010%

While there is no federal law protecting the public from the practice, price gouging is illegal in 35 states, with some states deeming that increasing prices by just 10 percent constitutes breaking the law. Thanks in no small part to increased profits from sales, Amazon founder and CEO Jeff Bezos has seen his wealth almost double during the pandemic, from $113 billion in March to $206 billion today, according to the Institute for Policy Studies, who calculated that America’s billionaire class of 467 plutocrats have seen their wealth spike by nearly a trillion dollars since lockdown began on March 18. Much of this has been down to an enormous tax break for the ultra-wealthy that the Trump administration snuck into its first coronavirus relief bill. Bezos, who retook the title of the world’s richest individual from Microsoft co-founder Bill Gates late last year, has said that he is so rich that he can only imagine spending his wealth by plowing it into space travel.

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I don’t believe it for a second.

Time Is Ripe For China To Free Up Controls On Yuan’s Convertibility (SCMP)

For the last five years, China’s central bank has been fighting to defend two key numbers: seven and three. Seven refers to the exchange rate between yuan and the US dollar – if the yuan weakens too much beyond seven to the US dollar, it would be regarded as a dangerous sign. Three refers to the level of China’s stockpile of foreign exchange reserves – if reserves dip below US$3 trillion, it would be seen as a sign of weakness. The context for the unannounced campaign to defend the two key figures is a deep concern over the rapid capital exodus that occurred after the sudden change in perceptions about China’s financial health and economic robustness following a devastating stock market rout in the summer of 2015, and Beijing’s subsequent clumsy steps to devalue the yuan by nearly 2 per cent.

As a result, Beijing changed its approach to outbound capital flows overnight – from a stance of tolerance and encouragement, to a ruthless crackdown. The restrictions on the ability of ordinary Chinese people to access foreign exchanges increased significantly, even though, on the surface, China maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. With a lopsided foreign exchange policy of encouraging inflows and discouraging outflows, China has achieved its goal of avoiding a large yuan depreciation or an exodus of funds. But after five years of this defensive posture, there are signs that the tide could turn again. The dangers of capital outflow have eased as the Chinese economy has recovered rapidly from the impact of the coronavirus pandemic.

As many parts of the world are still struggling to rebound, China has become a favoured destination for both portfolio and long-term investment despite tensions with the United States. With the US Federal Reserve’s aggressive monetary easing policy leading to a weaker US dollar, the yuan has become a safe bet for value. The time is ripe for Beijing to free up controls on the yuan’s convertibility with other currencies.The Chinese government can never realise its ambition of making the yuan a global currency, or even a potential rival to the US dollar, if it maintains rigid control on its use. With the US threatening China with financial sanctions, Beijing has recognised that it needs to reduce reliance on the US dollar, and the best way to do that is to free up the yuan.

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Don’t call for it, do it.

Merkel Calls For EU Support For Greece Over Moria (K.)

German Chancellor Angela Merkel said on Monday support for Greece on migration in light of the destruction of the country’s largest migrant camp should be pan-European. “Greece has shouldered a lot of responsibility,” she said on Monday, adding that Athens has earned support. “We will make a substantive contribution,” she added, noting more migrants will be transferred to Germany. Bild newspaper reported on Monday that Berlin is considering taking in thousands of refugees from Moria as a one-off gesture and hopes the camp can be rebuilt and run by the European Union.

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Good, now the rest. It does give one the idea that setting the place on fire paid off.

Germany Plans To Take In 1,500 Refugees From Greek Islands (R.)

German Chancellor Angela Merkel and Interior Minister Horst Seehofer are planning to take in around 1,500 refugees from the Greek islands, German news agency dpa reported on Tuesday. Dpa cited politicians focussed on domestic policy as saying that these would be families with children. More than 12,000 people, mostly refugees from Afghanistan, Africa and Syria, were left without shelter, proper sanitation or access to food and water after a fire tore through the overcrowded Moria migrant camp on the Greek island of Lesvos last Wednesday.

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“..the WikiLeaks publisher is largely being treated as a “non-person” by the Australian political and media establishment..”

Australia Politics, Media Silent On Sadistic British Assange Show-Trial (WSWS)

From the editorial pages of the official media and the statements of leading politicians, the uninformed observer would have no idea that a world-famous Australian journalist is enduring extradition hearings that have been condemned as a legal travesty by rights’ organisations and United Nations representatives, or that he faces 175-years imprisonment for publishing evidence of war crimes. Because it is Britain that is staging the current show-trial of Julian Assange, and the US government that is seeking his destruction, the WikiLeaks publisher is largely being treated as a “non-person” by the Australian political and media establishment. Moreover, they, no less than their counterparts internationally, are committed to an agenda of militarism and escalating attacks on democratic rights, of which the persecution of Assange is a central component.

A week since British hearings for Assange’s extradition to the US resumed, his name does not appear to have passed the lips of a minister in the federal Liberal-National government or a prominent representative of the Labor Party opposition, publicly, at least. And nor does it seem that they have been asked by any members of the “fourth estate” about their silence. Not a single editorial in the establishment media has called for Assange to be defended. This includes outlets such as the Age and the Sydney Morning Herald, and the state-funded Australian Broadcasting Corporation, which regularly proclaim their commitment to “press freedom.” The disinterest is not because the British proceedings have been uneventful, or the attacks on Assange’s legal and democratic rights carefully concealed.

Last week’s hearings began with Assange emerging for the first time in months from Belmarsh Prison, a maximum-security facility, where he has been detained for the past year-and-a-half, even though he has not been convicted of a crime. There he has been imperiled by the coronavirus pandemic, with the authorities failing to provide him with such basic protection as a mask, as dozens of inmates and staff have contracted the potentially deadly-virus. Before the trial, Assange was “rearrested,” despite the fact that there had been no change to his incarceration. The reason was that, weeks out from the trial, a new “superseding” indictment was filed by US prosecutors. This was plainly aimed at overwhelming Assange’s lawyers with thousands of legal documents, after they had already finalised their defence case.

Judge Vanessa Baraitser rejected a defence request that the additional material in the superseding indictment be excised. But she also dismissed a defence motion for a delay, to allow Assange’s lawyers to respond to the new allegations. Meanwhile, the US prosecutors have stated that the new material in the indictment, despite the fact that it does not contain additional charges, could itself be the basis for extradition. The US government is seeking to ensnare Assange in a Kafkaesque nightmare, where, even if extradition is blocked on the basis of the Espionage Act charges against him, he can still be dispatched to his American persecutors, based on the additional material in the new indictment, largely furnished by FBI informants, including a con-man previously convicted of impersonating Assange and stealing money from WikiLeaks.

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The honest person isn’t the one who has never sinned. It’s the one who has never committed any sin more than once.

– Nassim Nicholas Taleb

 

 

Python

 

 

The new documentary by David Attenborough, “Extinction: The Facts”, can be watched in full HERE on Periscope TV.

 

 

Support the Automatic Earth in virustime.

 

Feb 182020
 


Jack Delano Entrance to colored drivers’ lunchroom at truck service station on U.S. 1 (New York Avenue) 1940

 

338 Americans Flown Home From Cruise Ship, Including 14 With Coronavirus (R.)
US Breaks Cruise Ship Quarantine (ZH)
Virus Kills Chinese Film Director and Family in Wuhan (Chow)
Disease Modelers See The Future Of COVID-19 (STAT)
China Faces Back To Work Concerns As Firms Report Coronavirus Infections (SCMP)
Apple Unlikely To Meet Revenue Guidance Due To Coronavirus Impact (R.)
American Factories In China Unable To Staff Production Lines (SCMP)
At Stake (Jim Kunstler)
Senate Braces For Fight Over Impeachment Whistleblower Testimony (Hill)
NYC Taxpayers Spend Millions on Cyber Center with Ties to Israeli Intel (Webb)
WikiLeaks Locked Out of Twitter Account One Week Before Assange Hearing (GP)
Doctors Call For End Of Assange ‘Torture’ (AAP)
Julian Assange Must Be Freed, Not Betrayed (John Pilger)
Amazon’s Bezos Pledges $10 Billion To Climate Change Fight (R.)

 

 

Actually saw a Reuters headline that said “Coronavirus Infections Slow In China…”, and I thought: why would you say that, the number of new cases is still above 2,000, in spite of all the measures and containment and quarantines in the country.

But it was probably because of the second part of the headline that said “…As Apple Warns Of iPhone Shortages”. That’s what it took for people to take notice, though iPhones are a poor indicator of the economic consequences of the virus; the Big Hurt won’t be in the biggest firms. Look around your home and your stores and see how much stuff come from China. iPhones are but a blip on that radar.

Obviously, another matter people notice is the evacuation of Americans and other people from the Diamond Princess cruise ship in Yokohama. If only because it allows CNN and BBC to endlessly lament the “terrible ordeal” their compatriots have endured. As entire families in Wuhan have been wiped out, and people are banned from any social activities.

 

• Cases 73,433 (+ 2,103 from yesterday)

• Deaths 1,873 (+ 98 from yesterday)

 

 

 

 

The Westerdam cruise ship unwind is even crazier than the Diamond Princess, and that’s saying something.

338 Americans Flown Home From Cruise Ship, Including 14 With Coronavirus (R.)

More than 300 Americans who had been stuck on a cruise ship affected by the coronavirus were back in the United States on Monday, flown to U.S. military bases for two more weeks of quarantine after spending the previous 14 days docked in Japan. Among those repatriated on a pair of U.S.-chartered jets were 14 people who tested positive for the fast-spreading virus, seven on each plane. The Diamond Princess cruise ship held by far the largest cluster of cases outside China, with more than 400 people infected out of some 3,700 on board. The coronavirus outbreak has killed 1,770 people in China and five elsewhere, with Chinese officials reporting another 2,048 cases on Monday, raising the total to 70,548.

Washington previously flew hundreds of Americans from China to military bases in the United States, and then arranged to bring back the 338 cruise ship passengers once their 14-day quarantines on board had expired. Another 60 Americans remained in Japan for monitoring, State Department officials said. A further 200 U.S. citizens were stuck in Cambodia, among them 92 still on board another cruise ship, the Westerdam, that was also affected by the virus. The Diamond Princess was ordered to stay under quarantine at Yokohama port on Feb. 3 after an 80-year-old Hong Kong man, who was on board from Jan. 20 to Jan. 25, developed the virus. U.S. officials previously pledged to keep infected Americans in Japan for treatment. But they said they were forced to change plans after the passengers disembarked and were on their way to the airport when Japanese officials informed them that 14 of those in transit had tested positive.

“It was only when they were loaded onto these buses that we were made aware these positive results had come back from the government of Japan,” Dr. William Walters, a senior medical official for the State Department, told a news briefing. “They were then taken off the bus, moved into the aircraft and that dedicated isolation area, which was the safest place for them to get away from the rest of the passengers and give us time to make decisions,” Walters said. The infected passengers were isolated in specialized containment areas aboard the two chartered jets. They were exposed to other passengers for about 40 minutes during the bus ride.

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The US accuses Japan of utter failure, but never in those words. Main ally.

US Breaks Cruise Ship Quarantine (ZH)

[..] the Princess Cruises ship was carrying 2,666 guests and 1,045 crew when it set sail and was quarantined after 10 cases of coronavirus were reported Feb. 4. Since then the number of cases on board has exploded, and on Monday alone, Japan announced an additional 99 infections on the Diamond Princess, raising the ship’s total number of cases to 454. And since most of the people on the ship have yet to be tested, the real number of infections may not be known for days. Where things gets problematic, is that whereas until now most of those on board the cruise ship had remained in isolation, the self-imposed quarantine is now over, and on Sunday, fourteen evacuees from the Diamond Princess were allowed to fly back to the United States Sunday despite testing positive for coronavirus, the U.S. State Department and Health and Human Services said in a joint statement.


Why were they released? Because supposedly they were not symptomatic, and in a very ominous twist, they had tested negative initially! “These individuals were moved in the most expeditious and safe manner to a specialized containment area on the evacuation aircraft to isolate them in accordance with standard protocols,” the statement, published Sunday, read. The State Department was unaware the individuals had coronavirus when they were being removed from the ship; they had tested negative just a few days before, Robert Kadlec, the assistant secretary for preparedness and response at the U.S. Department of Health & Human Services, said on a phone call with reporters. “If those results had come back four hours earlier before we’d started to disembark the ship and before these people were evacuees within an evacuation system, then it would’ve been a different discussion.” Dr. William Walters, director of operational medicine at the U.S. Department of State, said on the call.

In other words, the quarantine that had isolated the biggest incubator of coronavirus cases outside of Wuhan was broken simply because an initial test had given a false negative, and subsequents test confirmed that at least 14 indeed had the coronavirus. Kadlec said that individuals received multiple screenings when moving from ship to bus to plane and a more extensive medical assessment upon arrival. In any case, the Diamond Princess quarantine is now broken, and two charter flights carrying at least 14 infected passengers landed at military bases in California and Texas overnight, starting the clock on a 14-day quarantine period to ensure those passengers don’t have coronavirus. In total, approximately 380 Americans were on board the Diamond Princess ship for the duration of the cruise and quarantine at sea.


[..] Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases at the National Institutes of Health, told the USA TODAY editorial board and reporters Monday that the original idea to keep people safely quarantined on the ship wasn’t unreasonable. Yet where the entire story falls on its face is that even with the quarantine process on the ship, virus transmission still occurred. One can only hope that there are proper precaution pathways in place to prevent transmission now that at least 13 infected cruise passengers are now on US soil. “ The quarantine process failed,” Fauci said. “I’d like to sugarcoat it and try to be diplomatic about it, but it failed. People were getting infected on that ship. Something went awry in the process of the quarantining on that ship. I don’t know what it was, but a lot of people got infected on that ship.”

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Mild? Mildly contagious? One wonders.

Virus Kills Chinese Film Director and Family in Wuhan (Chow)

A Chinese film director and his entire family have died from the novel coronavirus in Wuhan, the epicenter of the outbreak. Chang Kai, a film director and an external communications officer at a Hubei Film Studio subsidiary, died in hospital on Feb. 14 from the virus now called COVID-19, according to a statement from the studio. He was 55. But Chang’s death was not the first in his family—the Chinese media reported that Chang’s father and mother were infected and died one after the other. Chang and his sister, who looked after their parents at home, were both infected with the virus as a result. His sister died just hours later. Chang’s wife is also infected, still alive, and is still battling the virus in an intensive care unit.


A note written by Chang, said to be his last words, has gone viral on the Chinese Internet. Chang wrote that his father succumbed to the illness on the first day of the Lunar New Year (January 25). “My father had a fever, cough and trouble breathing. [We] tried to send him to the hospital but none of the hospitals we visited took him, because they had no more beds,” he wrote. Instead, Chang brought his father home where ha died a few days later, having passed on the virus to the other family members. Chang’s note said that he and his wife were denied the opportunity to be treated early. Wuhan built a new hospital in six days, but capacity to handle the virus remains strained. Chang bade farewell to his family, friends and his son, who is reportedly studying in the U.K.

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Too many unknowns. Too easily lost in various favorite interpretations.

Disease Modelers See The Future Of COVID-19 (STAT)

At least 550,000 cases. Maybe 4.4 million. Or something in between. Like weather forecasters, researchers who use mathematical equations to project how bad a disease outbreak might become are used to uncertainties and incomplete data, and Covid-19, the disease caused by the new-to-humans coronavirus that began circulating in Wuhan, China, late last year, has those everywhere you look. That can make the mathematical models of outbreaks, with their wide range of forecasts, seem like guesswork gussied up with differential equations; the eightfold difference in projected Covid-19 cases in Wuhan, calculated by a team from the U.S. and Canada, isn’t unusual for the early weeks of an outbreak of a never-before-seen illness.

But infectious-disease models have been approximating reality better and better in recent years, thanks to a better understanding of everything from how germs behave to how much time people spend on buses. “Year by year there have been improvements in forecasting models and the way they are combined to provide forecasts,” said physicist Alessandro Vespignani of Northeastern University, a leading infectious-disease modeler. That’s not to say there’s not room for improvement. The key variables of most models are mostly the same ones epidemiologists have used for decades to predict the course of outbreaks. But with greater computer power now at their disposal, modelers are incorporating more fine-grained data to better reflect the reality of how people live their lives and interact in the modern world — from commuting to work to jetting around the world.

These more detailed models can take weeks to spit out their conclusions, but they can better inform public health officials on the likely impact of disease-control measures. Models are not intended to be scare machines, projecting worst-case possibilities. (Modelers prefer “project” to “predict,” to indicate that the outcomes they describe are predicated on numerous assumptions.) The idea is to calculate numerous what-ifs: What if schools and workplaces closed? What if public transit stopped? What if there were a 90% effective vaccine and half the population received it in a month?

“Our overarching goal is to minimize the spread and burden of infectious disease,” said Sara Del Valle, an applied mathematician and disease modeler at Los Alamos National Laboratory. By calculating the effects of countermeasures such as social isolation, travel bans, vaccination, and using face masks, modelers can “understand what’s going on and inform policymakers,” she said.

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Said it a few times before: factories become petri dishes too, the virus loves those.

China Faces Back To Work Concerns As Firms Report Coronavirus Infections (SCMP)

Cracks have appeared in China’s eagerness to resume economic activities amid the coronavirus outbreak, with a number of work-related cases reported. Gree Electric, the country’s biggest air-conditioner manufacturer located in the city of Zhuhai in Guangdong province, was forced to take emergency action last week to check and quarantine its employees after a bus driver was found to have had close contact with a suspected case, according to a notice published by the company’s labour union on its social media account. The contracted driver, surnamed Feng, had been driving employees to and from work last week until Saturday, with Gree now “intensely” checking the condition of employees who had travelled on the bus.

In addition, Feng was found to have had a meal with three colleagues last week, which was against his company’s policy concerning coronavirus control. According to the statement, Gree recommended that the contractor sack all four drivers despite the quartet, plus Feng’s son, later testing negative. The Gree statement, which was later removed, did not provide details on how many workers have been placed under quarantine. Gree was one of the first to resume production in Guangdong, with provincial party secretary Li Xi visiting the plant last week, two days after 11,000 workers – around one third of the total workforce – resumed operations, according to a report by the official Nanfang Daily.

In another case in Chongqing, more than 130 employees of Chongqing Titanium Industry, a unit of Pangang Group, had to be quarantined and the factory was again forced to halt production after two members of staff were confirmed as being infected at the start of last week, according to a notice by the local industrial estate where the plant is based. In Guangzhou, an employee tested positive for coronavirus, forcing the company to quarantine its remaining members of staff since Friday.

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This sinks the “markets”. And shows how dumb the people in them are.

Apple Unlikely To Meet Revenue Guidance Due To Coronavirus Impact (R.)

Apple warned on Monday it was unlikely to meet a sales target set just three weeks ago amid lost production and weakening demand in China from the coronavirus outbreak. The illness has killed 1,770 in China and stricken some 70,500 people, with millions of others confined to their homes and factories slow to reopen after the Chinese New Year holiday break was extended due to the virus. Manufacturing facilities in China that produce Apple’s iPhone and other electronics have begun to reopen, but they are ramping up more slowly than expected, Apple said. That will mean fewer iPhones available for sale around the world, making Apple one of the largest Western firms to be hurt by the outbreak.


Some of its retail stores in the country remain closed or are operating at reduced hours, which will hurt sales this quarter. China accounted for 15% of Apple’s revenue, or $13.6 billion, last quarter, and supplied 18% of revenue in the year-ago quarter. In late January, Apple had forecast $63 billion to $67 billion in revenue for the quarter ending in March. It did not offer a new revenue estimate nor provide a profit forecast on Monday. “The magnitude of this impact to miss its revenue guidance midway through February is clearly worse than feared,” Wedbush analyst Daniel Ives wrote in a note. Apple’s stock is expected to face a knee-jerk reaction on Tuesday, when Wall Street reopens after the Presidents Day holiday, Ives said.

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It’s irresponsible to open most of these factories.

American Factories In China Unable To Staff Production Lines (SCMP)

As China tries to put its economy back to work amid a novel coronavirus outbreak that has left swathes of the country on lockdown, American manufacturers have warned that they do not have enough staff to man their production lines. The Lunar New Year holiday was officially extended until February 10 in a bid to stem contagion, but factories begun reopening last week across the country, with differing rules applying across China’s almost 3,000 counties.
A survey of 109 companies in the manufacturing powerhouse of the Shanghai region found that while two-thirds of factories were up and running by the end of last week, 78 per cent did not have enough workers to kick-start full production. Almost half, meanwhile, said that their global operations have already been hit by the spread of the coronavirus.


Companies in the area, which includes Suzhou, Nanjing and the wider Yangtze River Delta, had to apply for permission to reopen, and of those that were granted a licence, just 58 per cent were permitted to open all of their production lines, according to the survey conducted by the American Chamber of Commerce (AmCham) in Shanghai between February 11 and 14. “The biggest problem is lack of workers as they are subjected to travel restrictions and quarantines, the number one and number two problems identified in the survey. Anyone coming from outside the immediate area undergoes a 14 day quarantine,” said Ker Gibbs, AmCham Shanghai president. “Therefore, most factories have a severe shortage of workers, even after they are allowed to open. This is going to have a severe impact on global supply chains that is only beginning to show up.

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A convenient list of names.

At Stake (Jim Kunstler)

I have a theory about the McCabe case: The Attorney General has taken the rinky-dink “lying to the FBI” charge off the table. It has become a liability, virtually the emblem for government misconduct, and Mr. Barr is getting rid of it in these matters. It has already caused too much mischief, insulted Americans’ sense of justice, and damaged the DOJ’s standing. Note, Andrew McCabe has been let off only on this charge, stemming from only one particular IG referral; he may well yet be liable for more serious charges-to-come. From here on, there will be no more rinky-dink lying charges against any of those implicated in the coup, only the most serious charges, and only those that add up to a solid case.

The coup has been so broad, deep, and thick that I predict cases will have to be brought under the RICO statutes in batches for different groups in separate agencies and branches of government. For instance, there is the Intel Mob, including former CIA Director John Brennan, former Director of National Intel (DNI) James Clapper, current Intel IG Michael Atkinson, so-called whistleblower (he that cannot be named, E*** C**********) and International Man of Mystery Joseph Mifsud. There is gang from the State Department who helped engineer UkraineGate, including former Ambassador Marie Yovanovich, former Sec’y of State John Kerry, and others. There is that big herd of rogue lawyers in the DOJ and its stepchild, the FBI, the names widely disseminated by now, Comey, Strzok, Baker, Boente, Carlin, Clinesmith, et. al.

There’s Robert Mueller and his henchpersons, Andrew Weissmann, Jeannie Rhee, et. al. There’s another a band of seditionists in Congress that includes Mark Warner of the Senate Intel Committee, the now notorious idiot Adam Schiff over in the House, and staffers who worked for both. There’s a bunch in the Pentagon’s Office of Net Assessment that paid over a million dollars to Alternate International Man of Mystery (actually, CIA asset) Stefan Halper to run entrapment schemes against people working for Mr. Trump. There’s a swarm from Barack Obama’s White House, including Valarie Jarrett, Susan Rice, Samantha Powers, Alexandra Chalupa, former Vice-President Joe Biden and the former President himself.

And finally, there is the 800-pound-gorilla over in the Democratic Party thicket, namely Hillary Clinton, and those connected to her and her charity fraud, the Clinton Foundation, which is the real and actual predicate for the whole sordid affair — a list that includes Viktor Vekselberg of Russia’s Skolkovo Project, $25-million donor Russian oligarch Victor Pinchuk, Russian aluminum magnate Oleg Deripaska, and Dmitri Alperovich of CrowdStrike, (Russian collusion, anyone?) as well as rascally freelancers such as Christopher Steele, Glenn Simpson of Fusion GPS, lawyer / Lobbyist Adam Waldman, and Hillary errand boys Sidney Blumenthal and Cody Shearer. The stories behind those names are all over the web, in case you want to hjedify yourself.

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The networks are bent in a strange pretzel to justify keeping the long known identity “secret”. It’s not about the identity, it’s about having an excuse not to let him testify.

Senate Braces For Fight Over Impeachment Whistleblower Testimony (Hill)

Senators are reviving the fight over the whistleblower complaint at the center of the months-long impeachment effort against President Trump. With Trump’s trial in the rearview mirror, the Senate Intelligence Committee is quietly shifting its attention back to its investigation into the complaint process after hitting pause on the inquiry as the impeachment effort consumed Washington. The probe will force senators to decide if, and how, they speak with the whistleblower — a controversial call that could test the bipartisan reputation the Intelligence panel has maintained even amid deeply partisan fights in Congress. Asked by The Hill if he was willing to formally compel and subpoena the whistleblower to testify, Senate Intelligence Committee Chairman Richard Burr (R-N.C.) didn’t rule out the possibility.

“I think you can rest assured that I’m prepared to do whatever we have to to interview the whistleblower,” Burr said. The renewed interest in speaking with the whistleblower comes after committee staff and lawyers for the individual hit a stalemate late last year over potential questioning. Lawyers for the individual made offers at the time to both the House and Senate Intelligence committees that their client was willing to provide written answers under oath, but Burr rejected that offer. The North Carolina senator indicated no progress had been made since then in trying to reach a deal on testimony and that while he hadn’t spoken recently with Mark Zaid, one of the whistleblower’s lawyers, his plan is “an interview with committee staff.”

[..] A Democratic committee source said that protecting the whistleblower’s safety and anonymity “is a top priority.” “We do not expect to be asked to cooperate with any effort that might endanger his or her safety,” the source said. The prospect of calling the whistleblower to speak with the committee has been talked up most recently not by a member of the panel but by Senate Judiciary Committee Chairman Lindsey Graham (R-S.C.), a close ally of the president. “The Senate Intel Committee under Richard Burr has told us that we will call the whistleblower,” Graham said earlier this month during a Fox News interview. He added in a subsequent interview with CBS’s “Face the Nation” that the “whistleblower episode needs to be investigated by Richard Burr” and in an interview with Fox News Radio that “the Intel Committee should be looking at whether or not the whistleblower had a bias.”

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Whitney with a new angle. Includes some Epstein.

NYC Taxpayers Spend Millions on Cyber Center with Ties to Israeli Intel (Webb)

Early last week, the city of New York launched — with little media scrutiny — one of two new massive cybersecurity centers that will be run by private Israeli firms with close ties to Israel’s government, the so-called “Mega Group” tied to the Jeffrey Epstein scandal and prominent pro-Israel lobby organizations operating in the United States. The centers were first announced in 2018 as was the identity of the firms who would run them: Israel-based Jerusalem Venture Partners and SOSA. As MintPress has reported on several occasions, all three of these entities have a history of aggressively spying on the U.S. federal government and/or blackmailing top American politicians, raising concerns regarding why these companies were chosen to run the new centers in the heart of Manhattan.

The news also comes as Israeli cybersecurity companies tied to Israeli military intelligence Unit 8200 were revealed to have access to the U.S. government’s most classified systems and simulating the cancellation of the upcoming 2020 presidential election. The new cybersecurity centers are part of a new New York City public-private partnership called “CyberNYC” that is valued at over $100 million and officially aims to “spur the creation of 10,000 cybersecurity jobs and make New York City a global leader in cyber innovation.” CyberNYC is an initiative of New York City’s Economic Development Corporation. However, the companies that will be responsible for creating those cybersecurity jobs will benefit foreign companies, namely Israeli and most of the jobs to be created will go to foreigners as well, as media reports on the partnership have quietly noted.

Those reports also stated that, while the stated purpose of the centers is to create new jobs, the Israeli firms chosen to run them — Jerusalem Venture Partners (JVP) and SOSA — view it as an opportunity to provide Israeli cybersecurity companies with a foothold into the American market and to see Israeli cybersecurity products adopted by both small and medium-sized American businesses, not just large corporations and government agencies. [..] the founder of JVP and former Knesset member, Erel Margalit, told the Jerusalem Post that “the center we are setting up [in New York] will assist Israeli hi-tech companies in collaborating with customers and companies in the US and around the world.”

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I think I saw it’s been restored. Twitter saying it had been compromised or something like that.

WikiLeaks Locked Out of Twitter Account One Week Before Assange Hearing (GP)

WikiLeaks has been locked out of their Twitter account just one week before Julian Assange’s extradition hearing is scheduled to begin in the UK. WikiLeaks Editor-in-Chief Kristinn Hrafnsson tweeted on Monday that “all attempts to get it reopened via regular channels have been unsuccessful. It has been impossible to reach a human at twitter to resolve the issue.” A source familiar with the situation explained to the Gateway Pundit that WikiLeaks social media admins received an automated email on February 9 saying that they needed to reset their password to regain access, but were not able to do so. They were unsure about the reason for the email in the first place — whether it was a glitch from Twitter, a targeted effort, or a hack.

The source said that when the WikiLeaks admins attempted to change the password and log in they received responses from Twitter saying that they were unable to verify them as the owner of the account and that the email on file did not match the one that they were using. WikiLeaks maintains that they are indeed using the same email that has been associated with the account for years. Efforts by WikiLeaks to reach someone at Twitter, since the 9th, have been unsuccessful. Assange’s extradition hearing is scheduled to begin on February 24 at Belmarsh Magistrates Courts, which is a court under the jurisdiction of South London Magistrates Courts.

Assange faces charges under the Espionage Act in the United States for his publication of the Iraq and Afghan War Logs. If extradited and convicted, he could face a maximum sentence of 175 years for the “crime” of publishing material that the US government did not want the public to know. On Monday evening, a Twitter spokesperson confirmed to The Gateway Pundit that the “account was locked due to indicators it was compromised.”

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February 14 is the next hearing.

Doctors Call For End Of Assange ‘Torture’ (AAP)

A group of 117 doctors and psychologists has called for an end to what it calls “the psychological torture and medical neglect of Julian Assange”. WikiLeaks founder Assange is being held in London’s Belmarsh Prison awaiting a hearing on February 24 which could see him extradited to the US. In a 1200-word letter published in the medical journal The Lancet, the Doctors For Assange group expresses concern over his fitness for the legal proceedings. The letter says that “Assange is in a dire state of health due to the effects of prolonged psychological torture in both the Ecuadorian embassy in London and Belmarsh Prison, where he has been arbitrarily detained according to the UN Working Group on Arbitrary Detention.

“Should Assange die in a UK prison, as the UN Special Rapporteur on Torture (Nils Melzer) has warned, he will have effectively been tortured to death,” the letter states. “Much of that torture will have taken place in a prison medical ward, on doctors’ watch. The medical profession cannot afford to stand silently by, on the wrong side of torture and the wrong side of history, while such a travesty unfolds.” The first hearing into the United States’ request for Assange’s extradition was held on May 2, 2019. When asked by the judge if he consented to the extradition, Assange said: “I do not wish to surrender myself for extradition for doing journalism that has won many, many awards and protected many people.”

A copy of the Doctors For Assange letter has been sent to the Australian minister for Foreign Affairs, Marise Payne, following up on a previous letter sent on December 16, calling on Ms Payne to bring Assange home to Australia for urgent medical care. A copy has also been sent to the UK Government, which the doctors accuse of violating Assange’s human right to health. The letter condemns what it calls the “torture” of Assange and “the denial of his fundamental right to appropriate healthcare”. It adds: “Politics cannot be allowed to interfere with the right to health and the practice of medicine.

“Abuse by politically motivated medical neglect sets a dangerous precedent, ultimately undermining our profession’s impartiality, commitment to health for all, and obligation to do no harm. “Our appeals are simple: we are calling upon governments to end the torture of Mr Assange and ensure his access to the best available healthcare, before it is too late.” The letter is signed by Stephen Frost, Lissa Johnson, Jill Stein and William Frost on behalf of 117 signatories.

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“..the “damage done personally to you” by Julian Assange.”

Julian Assange Must Be Freed, Not Betrayed (John Pilger)

WikiLeaks has informed us how illegal wars are fabricated, how governments are overthrown and violence is used in our name, how we are spied upon through our phones and screens. The true lies of presidents, ambassadors, political candidates, generals, proxies, political fraudsters have been exposed. One by one, these would-be emperors have realised they have no clothes. It has been an unprecedented public service; above all, it is authentic journalism, whose value can be judged by the degree of apoplexy of the corrupt and their apologists. For example, in 2016, WikiLeaks published the leaked emails of Hillary Clinton’s campaign manager John Podesta, which revealed a direct connection between Clinton, the foundation she shares with her husband and the funding of organised jihadism in the Middle East — terrorism.


One email disclosed that Islamic State (ISIS) was bankrolled by the governments of Saudi Arabia and Qatar, from which Clinton accepted huge “donations”. Moreover, as U.S. Secretary of State, she approved the world’s biggest ever arms sale to her Saudi benefactors, worth more than $80 billion. Thanks to her, U.S. arms sales to the world — for use in stricken countries like Yemen — doubled.

[..] Revealed by WikiLeaks and published in The New York Times, the Podesta emails triggered a vituperative campaign against editor-in-chief Julian Assange, bereft of evidence. He was an “agent of Russia working to elect Trump”; the nonsensical “Russiagate” followed. That WikiLeaks had also published more than 800,000 frequently damning documents from Russia was ignored. On an Australian Broadcasting Corporation programme, Four Corners, in 2017, Clinton was interviewed by Sarah Ferguson, who began: “No one could fail to be moved by the pain on your face at [the moment of Donald Trump’s inauguration] … Do you remember how visceral it was for you?” Having established Clinton’s visceral suffering, the fawning Ferguson described “Russia’s role” and the “damage done personally to you” by Julian Assange.


Clinton replied, “He [Assange] is very clearly a tool of Russian intelligence. And he has done their bidding.” Ferguson said to Clinton, “Lots of people, including in Australia, think that Assange is a martyr of free speech and freedom of information. How would you describe him?” Again, Clinton was allowed to defame Assange — a “nihilist” in the service of “dictators” — while Ferguson assured her interviewee she was “the icon of your generation”. There was no mention of a leaked document, revealed by WikiLeaks, called Libya Tick Tock, prepared for Hillary Clinton, which described her as the central figure driving the destruction of the Libyan state in 2011. This resulted in 40,000 deaths, the arrival of ISIS in North Africa and the European refugee and migrant crisis.

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1) Be as destructive as you can and get rich off your efforts. 2) Spend 1-2% of your dirty wealth and expect to be hailed as a philantropist.

Amazon’s Bezos Pledges $10 Billion To Climate Change Fight (R.)

Amazon CEO Jeff Bezos will commit $10 billion to fund scientists, activists, nonprofits and other groups fighting to protect the environment and counter the effects of climate change, he said on Monday. Cutting emissions will be challenging for Amazon. The e-commerce company delivers 10 billion items a year, has a massive transportation and data center footprint, and has faced criticism from within its own workforce. Bezos, the world’s richest man, is among a growing list of billionaires to dedicate substantial funds to battling the impact of global warming. “Climate change is the biggest threat to our planet,” Bezos said in an Instagram post. “I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share.”


The Bezos Earth Fund will begin issuing grants this summer as part of the initiative. “It’s going to take collective action from big companies, small companies, nation states, global organizations, and individuals,” Bezos said. Counteracting climate change has become a popular cause for U.S. billionaires in recent years, with Microsoft’s Bill Gates, Michael Bloomberg and hedge fund manager Tom Steyer counted among the world’s wealthiest environmental philanthropists. Last year, Bezos pledged to make online retailer Amazon net carbon neutral by 2040 – the first major corporation to announce such a goal – and to buy 100,000 electric delivery vehicles from U.S. vehicle design and manufacturing startup Rivian Automotive.

Read more …

 

 

 

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Jan 232020
 
 January 23, 2020  Posted by at 10:46 am Finance Tagged with: , , , , , , , , , , , , , ,  21 Responses »


Jack Delano Atchison, Topeka, and Santa Fe Railroad locomotive shops San Bernardino, CA 1943

 

Adam Schiff’s Opening Argument At Senate Impeachment Trial (Pol.)
Gabbard Suing Clinton For Defamation Over ‘Russian Asset’ Comments (Hill)
Black South Carolina Elected Official Now Backing Sanders Over Biden (AP)
Hunter Biden Ordered To Appear In Court Next Week For Contempt Hearing (ZH)
UN Demands US Probe Of Alleged Saudi Hack of Bezos’ Phone (ZH)
The Great American Shale Oil & Gas Bust (WS)
Ghislaine Maxwell’s Personal Emails Were Hacked (DM)
TEPCO Estimates It Will Take 44 Years To Decommission Fukushima No. 2 (JT)
Australia Red Cross: $11 Million ‘Administration Cost’ For Bushfire Help (7N)
Monarch Butterfly Population Critically Low On California Coast – Again (G.)

 

 

China Lunar New Year is from Jan 24-30. Hundreds of millions of Chinese traveling.

China Quarantines 11 Million In Wuhan As Virus Kills 17, With 95 Critical (RT)

The World Health Organization (WHO) has commended China’s swift response to a rapidly moving virus gripping the country, but despite a quick-climbing infection tally, the agency is reluctant to classify it a global health threat. “What they are doing is a very, very strong measure and with full commitment,” WHO director-general Tedros Ahanom Ghebreyesus said on Wednesday, referring to Beijing’s shutdown of all public transportation in and out of the city of Wuhan, the viral epicenter. As of 10am local time, all trains, buses, railways and ferries traveling to and from Wuhan have halted operations until further notice in an effort to slow the spread of the virus, with the government calling on the city’s 11 million residents to refrain from leaving without “special reasons.”

Medical personnel were also posted at toll gates and checkpoints along major roadways to screen commuters for the illness. The comments followed an emergency WHO meeting in Geneva on Wednesday, where the health agency mulled whether to declare the novel coronavirus – now dubbed “2019-nCoV” – a worldwide emergency. Still unsure after a day of deliberation, however, WHO will meet again Thursday, with Tedros saying he took the decision “extremely seriously.” China’s National Health Commission (NHC), meanwhile, has provided the latest figures tracking the impact of the dangerous pathogen, with 131 newly confirmed infections bringing the total to 571 across some 25 Chinese provinces.

Seventeen people have died from the illness thus far, all in central China’s Hubei province, with another 95 in critical condition with severe pneumonia-like symptoms. There are also now 393 suspected infections in China – 257 of them registered on Wednesday alone – with 5,897 additional cases of “close contact,” the NHC said.

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Couldn’t find any relevant write-ups of Schiff’s marathon, so here’s the text -not sure it covers all 3.28 minutes of it. But who cares? He had nothing new and what he had, he repeated 20+ times. Including the very dead: “The United States aids Ukraine and her people so that they can fight Russia over there, and we don’t have to fight Russia here.”

The Hunter Biden/Burisma story has not been debunked as Schiff repeats ad nauseum, what has been debunked -by Mueller- is Russiagate. But who cares?

Michael Tracey: “Counted at least 57 references to Russia or Putin in today’s impeachment trial which is why it’s a total fallacy to separate this episode from the Russiagate narrative which has dominated US politics for 3+ years. What’s happening now is just its inevitable culmination..”

Adam Schiff’s Opening Argument At Senate Impeachment Trial (Pol.)

Mr. Chief Justice, Senators, counsel for the President, and my fellow House managers: “When a man unprincipled in private life desperate in his fortune, bold in his temper, possessed of considerable talents, having the advantage of military habits—despotic in his ordinary demeanour—known to have scoffed in private at the principles of liberty—when such a man is seen to mount the hobby horse of popularity—to join in the cry of danger to liberty—to take every opportunity of embarrassing the General Government & bringing it under suspicion—to flatter and fall in with all the non sense of the zealots of the day—It may justly be suspected that his object is to throw things into confusion that he may ‘ride the storm and direct the whirlwind.’”


Those words were written by Alexander Hamilton in a letter to President George Washington, at the height of the Panic of 1792, a financial credit crisis that shook our young nation. Hamilton was responding to sentiments relayed to Washington as he traveled the country, that America, in the face of that crisis, might descend from “a republican form of Government,” plunging instead into “that of a monarchy.” The Framers of our Constitution worried then—as we worry today—that a leader could come to power not to carry out the will of the people that he was elected to represent, but to pursue his own interests. They feared that a president could subvert our democracy by abusing the awesome power of his office for his own personal or political gain. And so they devised a remedy as powerful as the evil it was meant to combat: Impeachment.

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Go Tulsi. Someone has to break the DNC, or the Democrats are finished as a party..

Gabbard Suing Clinton For Defamation Over ‘Russian Asset’ Comments (Hill)

Rep. Tulsi Gabbard (D-Hawaii) is suing Hillary Clinton for defamation over the former secretary of State’s remarks on a podcast characterizing the Democratic presidential candidate as a Russian asset. Gabbard filed the defamation lawsuit Wednesday in the U.S. District Court for the Southern District of New York. Gabbard’s lawyers allege that Clinton’s comments have “smeared” Gabbard’s “political and personal reputation.” “Tulsi Gabbard is a loyal American civil servant who has also dedicated her life to protecting the safety of all Americans,” Gabbard’s lawyer Brian Dunne said in a statement. “Rep. Gabbard’s presidential campaign continues to gain momentum, but she has seen her political and personal reputation smeared and her candidacy intentionally damaged by Clinton’s malicious and demonstrably false remarks.”


Gabbard’s campaign referred all questions on the lawsuit to Dunne. In response to the lawsuit, Clinton spokesman Nick Merrill said “that’s ridiculous.” [..] The lawsuit claims that Clinton is a “cutthroat politician” and “sought retribution” for Gabbard endorsing Clinton’s 2016 Democratic primary opponent, Sen. Bernie Sanders (I-Vt.). Gabbard is now facing Sanders in the crowded 2020 Democratic primary. “Clinton’s false assertions were made in a deliberate attempt to derail Tulsi’s presidential campaign,” it says. Gabbard’s lawyers claim Clinton’s “peddling of this theory” has harmed Gabbard, voters and “American democracy.” “Tulsi brings this lawsuit to ensure that the truth prevails and to ensure this country’s political elites are held accountable for intentionally trying to distort the truth in the midst of a critical Presidential election,” the lawsuit says.

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No. 1 for DNC: dump Biden. He’s roadkill.

Black South Carolina Elected Official Now Backing Sanders Over Biden (AP)

A South Carolina elected official who endorsed Joe Biden last month is switching her allegiance to Bernie Sanders in the state’s first-in-the-South presidential primary, saying she had viewed the former vice president — whose support in the state is considered deep — as “a compromise choice.” Dalhi Myers told AP on Wednesday that she was making the change in part because she values what she sees as Sanders’ strength in being able to go toe-to-toe with President Donald Trump in the general election. “I looked at that, and I thought, ‘He’s right,’” said Myers, a black woman first elected to the Richland County Council in 2016. “He’s unafraid and he’s unapologetic. … I like the fact that he is willing to fight for a better America — for the least, the fallen, the left behind.”


Sanders, a Vermont senator, frequently calls out what he sees as Trump’s dishonesty, referring on the campaign trail to the president as a “pathological liar.” Biden, whose relationships in South Carolina go back decades, has led polling in the state, particularly among the black voters who make up most of the state’s Democratic primary electorate. Sanders, whose 47-point loss to Hillary Clinton in 2016 in South Carolina blunted the momentum generated in opening primary contests and exposed his weakness with black voters, has focused on strengthening his ties in the state’s black community. In December, Myers, a corporate lawyer in Columbia, was among more than a dozen South Carolina elected officials to endorse Biden, saying at the time in a release from the Biden campaign that he was “the only candidate with the broad and diverse coalition of support we need to win” against Trump in the general election.

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No, really. Dump Biden.

Hunter Biden Ordered To Appear In Court Next Week For Contempt Hearing (ZH)

Hunter Biden has been ordered to stand in front of an Arkansas judge next Tuedsay to explain why he shouldn’t be held in contempt of court for failing to produce a laundry list of financial and personal information in his ongoing child support dispute with stripper Lunden Alexis Roberts. Roberts asked the court on Tuesday to hold Biden in contempt for failing to disclose financial information, contact information, and “a list of all companies he currently owns or in which he has an ownership interest,” as well as “all companies in which he has had an ownership interest in the past five years.” Also sought are a copy of Biden’s 2017 and 2018 tax returns, deeds to properties he owns, and an executed copy of a financial records release Biden has been avoiding filing unless the court allows him to do so under seal.


“The defendant continues to act as though he has no respect for this Court, its orders, the legal process in this state, or the needs of his child for support,” reads the filing, which adds “This is but another example of the defendant’s unnecessary actions to frustrate prompt adjudication of this matter and increase the plaintiff’s litigation costs.” Circuit Court Judge Holly Meyer agreed, ordering Biden to appear in person to explain his failure to produce the requested information which was due in August, 2019. In November, a DNA test revealed Hunter to be the father of the unnamed child with Roberts. In order to determine what Biden can cough up, Roberts has sought extensive financial records for periods which include his time on the board of a Ukrainian energy company while his father was the Obama administration’s point-man on Ukraine.

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Still don’t quite get this. Did MbS pose as a Nigerian prince? Will the UN get involved if your phone is hacked? Are the UN and Bezos trying to seek vengeance for Khashoggi in a roundabout way?

UN Demands US Probe Of Alleged Saudi Hack of Bezos’ Phone (ZH)

Despite the Saudi Embassy’s denial of the “absurd” claims that MbS hacked Jeff Bezos’ phone, United Nations experts have called for an “immediate investigation” by the United States. Independent experts Agnes Callamard, UN Special Rapporteur on summary executions and extrajudicial killings, and David Kaye, UN Special Rapporteur on freedom of expression, said in a statement Wednesday: “The information we have received suggests the possible involvement of the Crown Prince in surveillance of Mr. Bezos, in an effort to influence, if not silence, The Washington Post’s reporting on Saudi Arabia.” “The circumstances and timing of the hacking and surveillance of Bezos also strengthen support for further investigation by U.S. and other relevant authorities of the allegations that the Crown Prince ordered, incited, or, at a minimum, was aware of planning for but failed to stop the mission that fatally targeted Mr. Khashoggi in Istanbul.”


“The alleged hacking of Mr. Bezos’s phone, and those of others, demands immediate investigation by U.S. and other relevant authorities, including investigation of the continuous, multi-year, direct and personal involvement of the Crown Prince in efforts to target perceived opponents.” The U.N. experts reviewed a 2019 digital forensic analysis of Bezos’ iPhone, which they said was made available to them as U.N. Special Rapporteurs. The experts said that records showed that within hours of receipt of a video from the crown Pprince’s WhatsApp account, there was “an anomalous and extreme change in phone behavior” with enormous amounts of data from the phone being transmitted over the following months.

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Oh cut it out.

Boeing CEO Expects To Resume 737 MAX Production Before Mid-Year (R.)

Boeing Chief Executive Dave Calhoun told reporters on Wednesday the U.S. planemaker expects to resume 737 MAX production months before its forecasted mid-year return to service and said it did not plan to suspend or cut its dividend. The company announced a production halt in December, when the global grounding of the fast-selling 737 MAX following two deadly crashes in five months looked set to last into mid-2020 — a timeline pushed back after Boeing endorsed new simulator training for pilots. Calhoun said the company is not considering scrapping the MAX and expects it will continue to fly for a generation.


“I am all in on it and the company is all in on it,” Calhoun said, adding Boeing will not launch a marketing campaign to get customers to get back on 737 MAX planes. The company said on Tuesday it now expects regulators to approve the plane’s return to service in the middle of the year. Calhoun said he did not see recent issues raised about wiring or software as “serious problems.” The production delay threatens to cut U.S. GDP by as much as 0.5 percentage points. President Donald Trump on Wednesday told CNBC Boeing is a “very disappointing company.” United Airlines said Wednesday it does not expect to fly the Boeing 737 MAX this summer.

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Subtitle: US Fracking Gushes Bankruptcies, Defaulted Debt, and Worthless Shares

The Great American Shale Oil & Gas Bust (WS)

Following the sharp re-drop in oil and natural gas prices in late 2018, bankruptcy filings in the US by already weakened exploration and production companies , oilfield services companies, and “midstream” companies (they gather, transport, process, or store oil and natural gas) jumped by 51% in 2019, to 65 filings, according to data compiled by law firm Haynes and Boone. This brought the total of the Great American Shale Oil & Gas Bust since 2015 in these three sectors to 402 bankruptcy filings. The debt involved in these bankruptcies in 2019 doubled from 2018 to $35 billion. This pushed the total debt listed in these bankruptcy filings since 2015 to $207 billion. The chart below shows the cumulative total debt involved in these bankruptcies since 2015.

But this does not include the much larger losses suffered by shareholders that get mostly wiped out in the years before the bankruptcy as the shares descend into worthlessness, and that then may get finished off in bankruptcy court. The banks, which generally had the best collateral, took the smallest losses; bondholders took bigger losses, with unsecured bondholders taking the biggest losses. Some of them lost most of their investment; others got high-and-tight haircuts; others held debt that was converted to equity in the restructured companies, some of which soon became worthless again when the company filed for bankruptcy a second time. The old shareholders took the biggest losses.


The Great American Fracking Bust started in mid-2014, when the price of WTI dropped from over $100 a barrel to below $30 a barrel by early 2016. Then the price began to recover, going over $70 a barrel in September and October 2018. But then it began to re-plunge. By the end of 2018, WTI had dropped to $47 a barrel. [..]

And 2020 is starting out terrible for natural gas producers. The price of natural gas has plunged to $1.90 per million Btu at the moment, a dreadfully low price where no one can make any money. Producers in shale fields that produce mostly gas, such as the Marcellus, are in deeper trouble still, because oil, even at these prices, would be a lot better than just natural gas. Producing areas with constrained takeaway capacity (it takes a lot longer to build pipelines than to ramp up production) are subject to local prices, which can be lower still. In some areas, such as the Permian in Texas and New Mexico, the most prolific oil field in the US, where natural gas is a byproduct of oil production, limited takeaway capacity has caused local prices to collapse, and flaring to surge.

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Sent to WIkiLeaks yet?

Ghislaine Maxwell’s Personal Emails Were Hacked (DM)

Ghislaine Maxwell’s personal emails have been hacked, and damaging information, including the names of individuals linked to Jeffrey Epstein’s sex trafficking case, are at risk of being publicly released. The revelation was made in a letter filed by the British socialite’s lawyers in the defamation case brought against her by Jeffrey Epstein accuser Virginia Guiffre, DailyMail.com has learned. The letter was sent by Maxwell’s attorney, Ty Gee, on December 5 to New York federal court Judge Loretta A. Preska but made public last week. The letter addresses the materials that should remain sealed or redacted in the case. It notes ‘the difficulty and complexity’ of the process as there are more than 8,600 pages, adding that it is ‘difficult-to-overstate importance to the lives of Ms. Maxwell and the non-parties’.

Gee’s letter says that the project ‘could not be accomplished by scanning or speed-reading’ as each page had to be carefully analysed to redact, for example, ‘a surname or an email address’. He refers to details that were released in error in the 2,000 pages that were made public in August by the U.S. Court of Appeals for the Second Circuit. Those filings revealed allegations that Maxwell procured underage girls for Epstein. She has denied those charges. ‘Despite the Second Circuit’s best efforts, it made serious mistakes. For example, it redacted a non-party’s name in one location but not another; so the media immediately gained access to that name,’ Gee wrote.

‘As another example, it redacted Ms. Maxwell’s email address (which linked to her own domain name) in one location but not another; shortly afterward hackers breached the host computer.’ The hack may have implications for Prince Andrew after it was revealed in December that the Duke of York exchanged emails with Maxwell in 2015 about Giuffre. In that email, revealed on Panorama, Maxwell and the British royal discussed Giuffre – despite denials from Prince Andrew that he had never met the then-teenager and that a photo of them together was a fake. ‘Let me know when we can talk. Got some specific questions to ask you about Virginia Roberts,’ Prince Andrew wrote in an email to Maxwell. She replied: ‘Have some info – call me when you have a moment.’

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Make that 70.

TEPCO Estimates It Will Take 44 Years To Decommission Fukushima No. 2 (JT)

Tokyo Electric Power Company Holdings Inc. has outlined plans for the decommissioning of its Fukushima No. 2 nuclear power station, estimating that the process will take 44 years. Tepco presented the outline of decommissioning plans to the town assembly of Tomioka, Fukushima Prefecture, one of the two host towns of the nuclear plant, on Wednesday. According to the outline, the decommissioning process will have four stages, taking 10 years for the first stage, 12 years for the second stage and 11 years each for the third and fourth stages.


Tepco will survey radioactive contamination at the nuclear plant in the first stage, clear equipment around nuclear reactors in the second, remove the reactors in the third and demolish the reactor buildings in the fourth. Meanwhile, the plant operator will transfer a total of 9,532 spent nuclear fuel units at the plant to a fuel reprocessing company by the end of the decommissioning process, and 544 unused fuel units to a processing firm by the start of the third stage.

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Like it behooves a major charity. When interviewing such a CEO, always ask what their salaries are.

Australia Red Cross: $11 Million ‘Administration Cost’ For Bushfire Help (7N)

The Australian Red Cross has admitted it may spend as much as $11 million processing the millions of dollars people from across the globe have donated to its bushfire appeal. However, in the face of public outcry, the charity has been forced to revise an earlier statement that suggested a large proportion of the $95 million raised could be quarantined for future natural disasters. The charity also pledged on Thursday to speed up the rate of its delivery of emergency funds to bushfire ravaged communities. “We’re now paying a million dollars a day and we’re keen to continue to speed that up, we know the assistance is needed now,” Red Cross’s director of emergencies, Noel Clement, told 7 NEWS.


Clement said the charity had already dispensed 700 grants of $10,000 each, totalling $7 million. He conceded however that of the revised total of $115 million donated so far – up from yesterday’s figure of $95 million – as much as $11 million could be spent on administration costs. Such a figure – roughly 10 per cent of total revenue raised – is generally considered to be the uppermost limit of acceptable administrative costs among large charitable organisations.

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1980s: 4.5 million. 2019: 29,000.

Monarch Butterfly Population Critically Low On California Coast – Again (G.)

The western monarch butterfly population wintering along California’s coast remains critically low for the second year in a row, a count by an environmental group released Thursday showed. The count of the orange-and-black insects by the Xerces Society, a not-for-profit environmental organization that focuses on the conservation of invertebrates, recorded about 29,000 butterflies in its annual survey. That’s not much different than last year’s tally, when an all-time low 27,000 monarchs were counted. “We had hoped that the western monarch population would have rebounded at least modestly, but unfortunately it has not,” said Emma Pelton, a monarch conservation expert with the Xerces Society.


By comparison, about 4.5 million monarch butterflies wintered in forested groves along the California coast in the 1980s. Scientists say the butterflies are at critically low levels in the Western US due to the destruction of their milkweed habitat along their migratory route as housing expands into their territory and use of pesticides and herbicides increases. Researchers also have noted the effect of climate change. Along with farming, climate change is one of the main drivers of the monarch’s threatened extinction, disrupting an annual 3,000-mile migration synced to springtime and the blossoming of wildflowers.


Photograph: Mike Blake/Reuters

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Oct 112019
 
 October 11, 2019  Posted by at 9:57 am Finance Tagged with: , , , , , , , , , , ,  10 Responses »


Balthus Girl at a window 1957

 

How the Crybabies on Wall Street Try to Force the Fed into QE-4 (WS)
After Unveiling ‘NotQE’, Fed Eases Liquidity Rules For Foreign Banks (ZH)
America’s Political Implosion (SCF)
Dems Weigh Knee-Capping A Republican Impeachment Criticism (Pol.)
US House Republicans To Seek Sanctions On Turkey Over Kurd Offensive (R.)
Syrian Kurdish Leaders Urge EU To Pull Envoys Over Turkey Offensive (RT)
Explosions Rock Iranian Tanker Near Saudi Port City Of Jeddah (RT)
GM’s Third-Quarter China Vehicle Sales Down 17.5% (R.)
What Jeff Bezos Wants (Atl.)
Facebook Paid Just £28m Tax On Record £1.6bn Earnings In UK (G.)

 

 

2 stories I couldn’t find decent pieces on: new hopes for a Brexit deal, and Giuliani’s ‘associates’ arrested. I was wondering why they were labeled his ‘associates’, but all I could find is they were ’associated’ with him. Right. Now, I always found Rudy a weird character, but these stories simply become part of the entire load of anti-Trump tales we’re doused in every day. It becomes impossible to judge what is real or not.

Meanwhile, while you weren’t looking, the Fed is busy saving Wall Street again. Got to rescue them bonuses.

How the Crybabies on Wall Street Try to Force the Fed into QE-4 (WS)

Fed Chair Jerome Powell’s explanation on Tuesday and the FOMC minutes released yesterday were a bitter disappointment for the Crybabies on Wall Street – the broker-dealers and banks: They’d expected a massive bout of QE, and perhaps some of the players had gleefully contributed to, or even instigated the turmoil in the repo market to make sure they would get that massive bout of QE as the Fed would be forced to calm the waters with QE, the theory went. This QE would include big purchases of long-term securities to push down long-term yields, and drive up the prices of those bonds these Crybabies are holding or have bet on with derivatives.


This is particularly crucial to the “primary dealers” – the 24 US and foreign broker-dealers and banks that are authorized to deal directly with the US Treasury and the New York Fed. They’ve been hoarding Treasury securities with longer maturities. As of October 2, according to the most recent data from the New York Fed, they hoarded $161 billion, double the $81 billion a year ago – though that has come down from the peak in July of $219 billion. Note the top two lines (black): Less than two-year maturities amounting to $74 billion; and 11-year and over maturities amounting to $37 billion. Not included on this chart are the primary dealers’ holdings of Treasury bills, TIPS, Agency securities, and Floating Rate Notes.

Primary dealers are funding their hoard in the repo market. These funding needs were putting pressures on the repo market, the Fed already said in its minutes for the July meeting, before repo rates totally blew out in mid-September. But primary dealers could have sold a large part of those securities, if they’d wanted to. Prices were high and yields were low, a sign that there was heavy demand. But the dealers were holding out for even higher prices and even lower yields. And any heavy selling could have pushed up those yields and steepened the yield curve, very unpalatable for folks clamoring for rate cuts. So these dealers are sitting on a pile of Treasury notes and bonds whose prices they want to rise, and therefore their yields would have to fall. Massive QE, where the Fed buys these types of Treasury securities, would accomplish that.

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Why would the banks not risk going broke? They’ll be saved no matter what.

After Unveiling ‘NotQE’, Fed Eases Liquidity Rules For Foreign Banks (ZH)

Having cracked down on Deutsche Bank in the past, The Fed appears to be playing good-regulator/bad-regulator as The FT reports that Deutsche is expected to benefit most from an imminent change in The Fed’s liquidity rules. Specifically, US banking regulators have dropped an idea to subject local branches of foreign banks to tough new liquidity rules (forcing US branches of foreign banks to hold a minimum level of liquid assets to protect them from a cash crunch). As The FT further details, people familiar with his thinking say Randal Quarles, the vice-chair for banking supervision at the Fed, accepts the banks’ argument that any liquidity rules on bank branches should only be imposed in conjunction with foreign regulators.

“Without some international agreement, we could have the situation where each country is trying to grab whatever isn’t nailed down if there is another scare.” And Deutsche Bank benefits most (or rescued from major liquidity needs) since it has by far the largest assets in US branches… Why would The Fed do this? Simple, it cannot afford another Lehman-like move (or even the fear of one)…

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The whole enchilada is under threat. Time to leave the partisan trenches.

America’s Political Implosion (SCF)

The polarization in American politics has become so extreme there seems no longer to be any center ground. The political establishment is consequently imploding into an abyss of its own making. President Trump is being driven into an impeachment process by Democrats and their media supporters who accuse him of being “unpatriotic” and a danger to national security. Trump and Republicans hit back at Democrats and the “deep state” whom they condemn for conspiring to overthrow the presidency in a coup dressed up as “impeachment”. The White House is being subpoenaed, the Democrat-controlled House of Representatives wants to access transcripts to all of Trump’s phone calls to foreign leaders; Secretary of State Mike Pompeo has blasted congressmen for “harassing the State Department” in their search of evidence to indict Trump.

Trump calls the impeachment bid a “witch-hunt”. Republican Representatives protest that the US is facing a dark day of constitutional crisis, whereby opposing Democratic party leaders are abusing their office by accusing Trump of “high crimes” without ever presenting evidence. It’s an Alice in Wonderland scenario writ large, where the gravest verdict is being cast before evidence is presented, never mind proven; the president is guilty until proven innocent. Trump, in his turn, has berated senior Democrat Adam Schiff, the chair of the House Intelligence Committee, for “treason” – a capital offense. Are federal police obliged to arrest him? Schiff is accused of colluding with a supposed CIA whistleblower in concocting the complaint that Trump tried to extort Ukrainian President Volodymyr Zelensky to dig dirt on Democratic presidential candidate Joe Biden.


There seems no end to this political civil war in the US. The American political class is literally tearing itself apart, destroying its ability to govern with any normal function. So-called liberal media outlets, in lockstep with the Democrats, inculpate Trump for wrongdoing, while they staunchly assert that credible reports of Joe Biden abusing his former vice presidential office to enrich his son over Ukraine gas business are false. Many Americans don’t see it that way. They see Biden as being up to his neck in past corruption; they also see a flagrant double-standard of the establishment protecting Biden from investigation while hounding Trump at every possible opportunity, even when evidence against Trump is scant.

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Curious way to phrase holding a simple vote.

Dems Weigh Knee-Capping A Republican Impeachment Criticism (Pol.)

House Democrats are grappling with whether to take more steps to formalize their impeachment inquiry and silence a chief Republican criticism of their efforts, with competing factions beginning to emerge. President Donald Trump and his allies on Capitol Hill have hammered Speaker Nancy Pelosi for not holding a vote authorizing the House’s impeachment proceedings — arguing that without a vote, the entire process is illegitimate. Pelosi has refused to cave, dismissing Trump’s demand last week and insisting it is not required under the Constitution or House rules. And allies close to the speaker say her position hasn’t changed, describing the idea as the latest “Republican canard” in a series of stall tactics the GOP will employ to protect Trump.

“It is one act after another of obstruction of justice by the White House, by the State Department, and by the attorney general. And I say, give them more rope to hang themselves,” Rep. Harley Rouda (D-Calif.), who flipped his conservative Orange County district in 2018, said in an interview. Yet some Democratic lawmakers and aides have begun to say privately — and, to a lesser extent, publicly — that the House should just vote to formalize the inquiry, robbing the GOP of its main talking point. The debate is threatening to cleave Democrats’ unified front as the White House makes the arcane procedural arguments the centerpiece of its impeachment defense. “If Nancy asked me, I would say sure, let’s have a vote. Everybody’s on record, so they’re not going to vote any differently. What’s the danger in having a vote to formalize it?” said Rep. John Yarmuth (D-Ky.), an early impeachment backer.


But the suggestion has provoked strong objections from some of their colleagues who say they would be abdicating their authority if lawmakers permit other branches of government to dictate their procedures. “If we allow that to happen, Congress would be completely dysfunctional,” Rep. Sean Casten (D-Ill.) said at a recent town hall event in Glen Ellyn, Ill. “If we have to take a complete show vote, we’ll get the vote. But I find it offensive that they are basically telling us how to do our job with a misreading of the Constitution. Read the freakin’ Constitution. And then let’s honor our oath to it.”

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Will the Democrats support this?

US House Republicans To Seek Sanctions On Turkey Over Kurd Offensive (R.)

Twenty-nine of President Donald Trump’s fellow Republicans in the U.S. House of Representatives announced on Thursday they would introduce legislation to impose sanctions against Turkey, underscoring lawmakers unhappiness about its assault on Kurdish forces in Syria. A day after Republicans and Democrats announced similar legislation in the Senate, the lawmakers – including Republican Leader Kevin McCarthy, Republican Whip Steve Scalise and other party leaders – said they wanted a strong response to Ankara’s aggression. “President (Recep Tayyip) Erdogan and his regime must face serious consequences for mercilessly attacking our Kurdish allies in northern Syria,” Republican Representative Liz Cheney, chairwoman of the House Republican Conference, said in a statement.


It was not immediately clear how the legislation would fare in the House of Representatives, which is controlled by Democrats. On Sunday, Trump abruptly shifted policy and said he was withdrawing U.S. forces from northeastern Syria, clearing the way for Turkey to launch an assault across the border. Turkey began the offensive quickly, pounding Kurdish militias, who recently were fighting alongside U.S. forces against Islamic State militants, on Wednesday and Thursday, killing dozens and forcing many thousands of people to flee.

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Erdogan has threatend to release 3.6 million refugees into Europe, so don’t hold your breath for this one.

Syrian Kurdish Leaders Urge EU To Pull Envoys Over Turkey Offensive (RT)

Kurdish leaders have called on European countries to withdraw their ambassadors from Turkey in protest at Ankara’s military operation against their forces in northern Syria. A delegation from the Syrian Democratic Council (SDC) – the political wing of the Syrian Democratic Forces (SDF) – traveled to Brussels on Thursday to urge the EU to take concrete measures to punish Turkey, AFP reports. “We want an urgent intervention on this crisis, and these attacks should be stopped quickly. Air space should be closed for Turkish flights so that air attacks can be stopped,” senior SDC figure Ilham Ahmed said in Brussels. “All European states should freeze their relations by withdrawing their ambassadors from Turkey immediately.” The EU has urged Turkey to halt the assault but has not taken any action. The bloc’s foreign ministers will discuss the crisis at a regular meeting on Monday.

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Oh, lovely.

Explosions Rock Iranian Tanker Near Saudi Port City Of Jeddah (RT)

A tanker belonging to Iran’s government-owned oil corporation has been hit by two missiles and caught fire in the Red Sea, 60 miles from Saudi shores. The incident is being treated as a terrorist attack, local media says.
The tanker Sinopa, operated by the National Iranian Oil Company (NIOC), was sailing through the Red Sea when the explosion occurred. The blast was powerful enough to damage two of its reservoirs, leading to an oil spill in the area. Local media cited unnamed Iranian “technical experts” who believe that the incident could have been caused by a “terrorist attack,” but didn’t provide any evidence to back the claim.


The tanker’s crew wasn’t hurt in the incident, which took place near Jeddah, the largest port in the Red Sea and maritime gateway to Saudi Arabia. NIOC, which once ranked second after Saudi Aramco in terms of crude oil extraction, told state-run IRNA news agency that the vessel was hit by what appears to be two missiles. That report did not expand on where the attack came from.

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Small is beautiful.

GM’s Third-Quarter China Vehicle Sales Down 17.5% (R.)

General Motors Co’s July to September vehicle sales in China fell 17.5%, as the U.S. automaker was hurt by a slowing economy amid the Sino-U.S. trade war and by heightened competition in its key mid-priced SUV segment. GM delivered 689,531 vehicles in China in the third quarter this year, according to a company statement. The drop for the quarter ended September 30 marks the fifth straight quarterly sales decline for GM in China, the world’s biggest auto market. It delivered 2.26 million vehicles in the first nine months this year, according to Reuters calculation.


As GM and Ford Motor Co’s China sales extend declines, U.S. car companies’ share of total China passenger vehicles sales fell to 9.5% in the first eight months of this year from 10.7% in the year-ago period, according to the China Association of Automobile Manufacturers (CAAM). Over the same period, German car makers’ share has risen to 23.8% from 21.6% and Japanese auto makers’ to 21.7% from 18.3%.

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Wasn’t he the guy who wants to live on the moon?

What Jeff Bezos Wants (Atl.)

Where in the pantheon of American commercial titans does Jeffrey Bezos belong? Andrew Carnegie’s hearths forged the steel that became the skeleton of the railroad and the city. John D. Rockefeller refined 90 percent of American oil, which supplied the pre-electric nation with light. Bill Gates created a program that was considered a prerequisite for turning on a computer. At 55, Bezos has never dominated a major market as thoroughly as any of these forebears, and while he is presently the richest man on the planet, he has less wealth than Gates did at his zenith. Yet Rockefeller largely contented himself with oil wells, pump stations, and railcars; Gates’s fortune depended on an operating system. The scope of the empire the founder and CEO of Amazon has built is wider. Indeed, it is without precedent in the long history of American capitalism.


Today, Bezos controls nearly 40 percent of all e-commerce in the United States. More product searches are conducted on Amazon than on Google, which has allowed Bezos to build an advertising business as valuable as the entirety of IBM. One estimate has Amazon Web Services controlling almost half of the cloud-computing industry—institutions as varied as General Electric, Unilever, and even the CIA rely on its servers. Forty-two percent of paper book sales and a third of the market for streaming video are controlled by the company; Twitch, its video platform popular among gamers, attracts 15 million users a day. Add The Washington Post to this portfolio and Bezos is, at a minimum, a rival to the likes of Disney’s Bob Iger or the suits at AT&T, and arguably the most powerful man in American culture.

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“Profits on social media app surged by more than 50% to £797m in latest tax year..”

Facebook Paid Just £28m Tax On Record £1.6bn Earnings In UK (G.)

Facebook’s UK operations paid £28m in tax last year despite attracting a record £1.6bn in British sales. The social media company’s latest UK accounts show that gross income from advertisers rose almost 30% last year to £1.65bn, and pretax profits surged by more than 50% from £63m to £97m. Facebook UK said the net revenues it made from advertisers rose 50% last year to £797m, meaning 12% of its sales were converted to profits. This falls far short of the company’s overall performance – last year Facebook made $25bn (£19.7bn) of profit on total sales of $55.8bn – meaning it converted 44% of its sales into profits.


Facebook’s UK operation expanded rapidly last year with staff numbers rising by more than 50%, from 1,290 to 1,965 year on year, with a total staff wages and pension bill of £431m. The company’s UK office provides marketing services and sales and engineering support to other parts of the company. Facebook said it spent £356m on research, development and engineering in the UK last year. Last month, online retail giant Amazon came under fire for paying just £14.7m in UK corporation tax last year, despite reporting sales of £2.3bn. Earlier this month, Netflix UK’s accounts showed that the streaming giant received a €57,000 (£51,000) tax rebate from the UK government last year, despite making an estimated £700m from British subscribers bingeing on fare from The Crown to Stranger Things.

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A baby Grauer’s gorilla, a critically endangered species, in the forest of Kahuzi-Biega National Park in the Democratic Republic of Congo. In 2018, logging began in the protected area, threatening the habitat of the gorillas.

 

 

 

 

Feb 092019
 
 February 9, 2019  Posted by at 11:03 am Finance Tagged with: , , , , , , , , , , , , , ,  5 Responses »


Pablo Picasso Le pigeon aux petits pois (Pigeon with Peas) – stolen May 20 2010 1911

 

German Industrial Production Falls Most Since 2009. New Orders Plummet (WS)
Fed’s QE Unwind Reaches $434 Billion, Remains on “Autopilot” (WS)
UK Forcing Poor Nations Into Risky Post-Brexit Trade Deals (Ind.)
Acting AG Whitaker Says He Has Not Meddled In Russia Inquiry (AP)
US Faces A Catastrophic Food Supply Crisis, As Farmers Struggle (SHTF)
The State of the American Debt Slaves, Q4 2018 (WS)
Bezos, Amazon And Privacy (Greenwald)
Leaked Wikileaks Doc Reveals US Military Use of IMF, World Bank (MPN)
Venezuela: The US’s 68th Regime Change Disaster (AntiWar)
US In Direct Contact With Venezuelan Military, Urging Defections (R.)
Venezuela’s Maduro Spurns US Aid, Rival Warns Military Not To Block It (R.)
Dreams Die Hard (Kunstler)
Wiped Out Before Our Eyes’ Hawaii Proposes Ban On Shark Killings (G.)

 

 

Almost off the news radar, Germany’s problems get serious, and drag Europe down with it.

German Industrial Production Falls Most Since 2009. New Orders Plummet (WS)

“Unexpectedly,” German industrial production fell 3.9% in December 2018 compared to December 2017, after having fallen by a revised 4.0% in November, according to German statistics agency Destatis Thursday morning. These two drops were steepest year-over-year drops since 2009. Even during the European Debt Crisis in 2011 and 2012 – it hit Germany’s industry hard as many European countries weaved in and out of a recession, with some countries sinking into a depression — German industrial production never fell as fast on a year-over-year basis as in November and December:

The declines on a year-over-year basis were broad: Without construction, industrial production fell 3.9% year-over-year in December, after having fallen 4.5% in November. And just manufacturing production, which includes mining and quarrying, fell 4.0% year-over-year in December, after having fallen 4.6% in November. On a longer-term scale, the industrial production index peaked in May 2018 and has since fallen 4.6%. It is now back where it had first been in February 2017:

And industrial production is not getting a whole lot better any time soon as new orders for the manufacturing sector have plunged – according to data released by Destatis on Wednesday. New orders dropped 7.0% year-over-year in December (adjusted for calendar differences), after having fallen 3.4% in November and 3.0% in October. In fact, orders have fallen seven months in a row on a year-over year basis in ever larger drops. The chart below shows the decline in each month compared to the same month a year earlier — with a sharp deterioration at the end of the year:

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As I’ve said before, tweaking rates is sort of an instant measure, but re-purchasing $434 billion in assets takes much longer. If only because the Fed will cause a panic if they try.

Fed’s QE Unwind Reaches $434 Billion, Remains on “Autopilot” (WS)

The Fed shed $32 billion in assets in January, according to the Fed’s balance sheet for the week ended February 6, released this afternoon. This reduced the assets on its balance sheet to $4,026 billion, the lowest since January 2014. Since the beginning of this “balance sheet normalization,” the Fed has now shed $434 billion.

[..] the questions going forward are these: One, will the Fed continue to trim its balance sheet on “autopilot,” or will it deviate from plan and slow or stop the balance sheet reductions; Or two, will the Fed reverse course and restart QE all over again at any moment now, as the biggest Wall Street hype-mongers have prophesied; Or three, will the Fed tweak the roll-off – as a slew of Fed governors have suggested – to where it would get rid of its MBS more quickly by outright selling them; and by replacing some of them with short-term Treasury bills to lower the balance sheet’s average maturity, which currently is over eight years.

Over the next few months, the Fed will likely announce some tantalizing tidbits about how it might tweak the balance-sheet reduction. One of those tidbits will likely relate to how it will shed MBS faster and replace those additional reductions of MBS with short-term Treasury bills. The effects of this may not be what the markets had hoped for in their wildest dreams. And the Fed will likely dole out more clues about how much further it wants to cut its balance sheet. But all this will take months, and until those tweaks are nailed down and announced, the balance sheet normalization will proceed on autopilot at its by now customary glacial pace.

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Dreams of empire. France does the exact same thing.

UK Forcing Poor Nations Into Risky Post-Brexit Trade Deals (Ind.)

Some of the world’s poorest countries are being forced to agree potentially damaging trade deals with the UK by government “threats” in the rush to Brexit, campaigners say. Liam Fox, the international trade secretary, is accused of piling pressure on developing nations to “sign up blind” – without knowing the value of the deals – with a warning they will otherwise be lost. Just three of the 40 agreements the UK enjoys through EU membership, covering 71 countries, have been successfully “rolled over” – as the government promised – with Brexit day just seven weeks away. Now the Department for International Trade is under fire for telling the countries concerned they risk punishing tariffs on crucial exports to the UK, unless they re-sign the deals in time.

Among them are Ghana, which relies on banana sales, Mauritius (tuna), Kenya (flowers), Cote d’Ivoire (cocoa), Namibia (grapes and beef), Swaziland (sugar), and scores of other developing countries in Africa, the Caribbean and Central America. And, says the fair trade charity Traidcraft Exchange, they risk a legal challenge at the World Trade Organisation (WTO) under an extraordinary plan to treat EU parts as originating from the UK. “The continuity agreements are being rushed because of the threat of no deal. Countries are being asked to sign up blind,” said Liz May, the charity’s head of policy.

“Without the full picture of how the EU and UK will trade in the future, it is impossible for countries to judge what these deals are really worth, how they will work in practice or even how some elements will be enforced. “Instead of acknowledging this difficulty, the government is relying on developing countries being compelled to sign up at the last minute, rather than risk high tariffs being slapped on their key exports. “This type of bad-faith negotiating – using implicit threats to get countries ‘over the line’ – is not a great way to start the UK’s independent trade policy.”

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“I’m thinking about maybe we just set up a popcorn machine in the back because that’s what this is becoming. It’s becoming a show..”

The Senate will vote on Barr next week anyway, so why the showboating carnival?

Acting AG Whitaker Says He Has Not Meddled In Russia Inquiry (AP)

The acting attorney general, Matthew Whitaker, said on Friday that he has “not interfered in any way” in the special counsel’s Russia investigation as he faced a contentious congressional hearing in his waning days on the job. The hearing before the House Judiciary Committee was the first, and likely only, chance for newly empowered Democrats in the majority to grill an attorney general they perceive as a Donald Trump loyalist, and whose appointment they suspect was aimed at suppressing investigations of the Republican president. Democrats confronted Whitaker on his past criticism of the special counsel Robert Mueller’s work and his refusal to recuse himself from overseeing it, attacked him over his prior business dealings, and sneeringly challenged his credentials as the country’s chief law enforcement officer.

“We’re all trying to figure out: who are you, where did you come from and how the heck did you become the head of the Department of Justice,” said congressman Hakeem Jeffries. When Whitaker tried to respond, the New York Democrat interrupted: “Mr Whitaker, that was a statement, not a question. I assume you know the difference.” Yet Democrats yielded no new information about the status of the Mueller invesetigation as Whitaker repeatedly refused to discuss conversations with the president or answer questions that he thought might reveal details. Though clearly exasperated – he drew gasps and chuckles when he told the committee chairman that his five-minute time limit for questions was up – Whitaker nonetheless sought to assuage Democratic concerns by insisting he had never discussed the Mueller probe with Trump or other White House officials, and that there’d been no change in its “overall management”.

“We have followed the special counsel’s regulations to a T,” Whitaker said. “There has been no event, no decision, that has required me to take any action, and I have not interfered in any way with the special counsel’s investigation.” Republicans made clear they viewed the hearing as pointless political grandstanding, especially since Whitaker may have less than a week left in the job, and some respected his wishes by asking questions about topics other than Mueller’s inquiry into potential coordination between Russia and the Trump campaign. The Senate is expected to vote as soon as next week on confirming William Barr, Trump’s pick for attorney general. “I’m thinking about maybe we just set up a popcorn machine in the back because that’s what this is becoming. It’s becoming a show,” said the Republican congressman Doug Collins ,of Georgia, who accused his Democratic colleagues of “character assassination”.

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The US food crisis is exclusively caused by Big Ag and Monsanto. Farmers depending on China is not in their interest.

US Faces A Catastrophic Food Supply Crisis, As Farmers Struggle (SHTF)

American farmers are battling several issues when it comes to producing our food. Regulated low prices, tariffs, and the inability to export have all cut into the salaries of farmers. They are officially in crisis mode, just like the United States’ food supply. “The farm economy’s in pretty tough shape,” said John Newton, chief economist at the American Farm Bureau Federation. “When you look out on the horizon of things to come, you start to see some cracks.” Average farm income has fallen to near 15-year lows under president Donald Trump’s policies, and in some areas of the country, farm bankruptcies are soaring. And with slightly higher interest rates, many don’t see borrowing more money as an option.

“A lot of farmers are going to give the president the benefit of the doubt, and have to date. But the longer the trade war goes on, the more that dynamic changes,” said Brian Kuehl, executive director of Farmers for Free Trade, according to Politico. With no end to the disastrous trade war in sight, many farmers have traveled to Washington to share their plights with the president himself hoping that he’ll end the trade war that’s exacerbating an already precarious food crisis. Farmers make up a fairly large chunk of president Trump’s base, and an unwillingness to put food production in the United States first could be detrimental for Trump reelection chances in 2020. It could also be the beginning of a catastrophic food shortage.

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“It’s a tough job, but someone’s got to do it: Propping up the massive US economy.”

The State of the American Debt Slaves, Q4 2018 (WS)

It’s a tough job, but someone’s got to do it: Propping up the massive US economy. And consumers are doing it, but in a somewhat lackadaisical manner when it comes to spending money they don’t have. Consumer debt – more enticingly, “consumer credit” similar to “extra credit” – rose 4.7% in the fourth quarter 2018 compared to the fourth quarter last year. In the year 2018, Americans added $179 billion to their balances on their credit cards, auto loans, and student loans. Every dime was spent and added to GDP. It amounted to nearly 1% of GDP. If GDP grew 3.1% in 2018, just under one third of the growth was generated by that additional consumer debt.

Without this additional consumer borrowing, if consumers had just maintained their debt levels, GDP growth might only have been 2.2% in 2018, instead of 3.1%. So, a huge round of applause is due our debt slaves that now owe over $4 trillion for the first time ever, according to the Federal Reserve Thursday afternoon. Consumer debt includes auto loans, student loans, credit-card debt, and personal loans, but it excludes housing related debt, such as mortgages and HELOCs. The $4.01 trillion in consumer debt is up 52% from the peak early in the Financial Crisis in Q3 2008. This is not adjusted for inflation. Over the same period, the Consumer Price Index rose 16% and nominal GDP rose 39%. Thus, Americans are sticking to their time-honored plan of out-borrowing both inflation (by a big margin) and economic growth.

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Summary: Trump accused of using the same FBI that spies on him, to spy on Bezos, who’s in bed with the FBI.

I may have temporarily lost the thread, and the logic.

Bezos, Amazon And Privacy (Greenwald)

On Thursday, Bezos published emails in which the Enquirer’s parent company explicitly threatened to publish intimate photographs of Bezos and his mistress, which were apparently exchanged between the two through their iPhones, unless Bezos agreed to a series of demands involving silence about the company’s conduct. [..] Despite a lack of evidence, MSNBC is already doing what it exists to do – implying with no evidence that Trump is to blame (in this case, by abusing the powers of the NSA or FBI to spy on Bezos). But, under the circumstances, those are legitimate questions to be probing (though responsible news agencies would wait for evidence before airing innuendo of that sort).

If Bezos were the political victim of surveillance state abuses, it would be scandalous and dangerous. It would also be deeply ironic. That’s because Amazon, the company that has made Bezos the planet’s richest human being, is a critical partner for the U.S. Government in building an ever-more invasive, militarized and sprawling surveillance state. Indeed, one of the largest components of Amazon’s business, and thus one of the most important sources of Bezos’ vast wealth and power, is working with the Pentagon and the NSA to empower the U.S. Government with more potent and more sophisticated weapons, including surveillance weapons.

In December, 2017, Amazon boasted that it had perfected new face-recognition software for crowds, which it called Rekognition. It explained that the product is intended, in large part, for use by governments and police forces around the world. The ACLU quickly warned that the product is “dangerous” and that Amazon “is actively helping governments deploy it.” “Powered by artificial intelligence,” wrote the ACLU, “Rekognition can identify, track, and analyze people in real time and recognize up to 100 people in a single image. It can quickly scan information it collects against databases featuring tens of millions of faces.” “Amazon’s Rekognition raises profound civil liberties and civil rights concerns.”

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The core of the Venezuela crisis: “Hugo Chávez, broke ties with the IMF and World Bank, which he noted were “dominated by US imperialism.” Instead Venezuela and other left-wing governments in Latin America worked together to co-found the Bank of the South..”

Leaked Wikileaks Doc Reveals US Military Use of IMF, World Bank (MPN)

In a leaked military manual on “unconventional warfare” recently highlighted by WikiLeaks, the U.S. Army states that major global financial institutions — such as the World Bank, IMF, and the OECD — are used as unconventional, financial “weapons in times of conflict up to and including large-scale general war,” as well as in leveraging “the policies and cooperation of state governments.” The document, officially titled “Field Manual (FM) 3-05.130, Army Special Operations Forces Unconventional Warfare” and originally written in September 2008, was recently highlighted by WikiLeaks on Twitter in light of recent events in Venezuela as well as the years-long, U.S.-led economic siege of that country through sanctions and other means of economic warfare. Though the document has generated new interest in recent days, it had originally been released by WikiLeaks in December 2008 and has been described as the military’s “regime change handbook.”

WikiLeaks’ recent tweets on the subject drew attention to a single section of the 248-page-long document, titled “Financial Instrument of U.S. National Power and Unconventional Warfare.” This section in particular notes that the U.S. government applies “unilateral and indirect financial power through persuasive influence to international and domestic financial institutions regarding availability and terms of loans, grants, or other financial assistance to foreign state and nonstate actors,” and specifically names the World Bank, IMF and the OECD, as well as the Bank for International Settlements (BIS), as “U.S. diplomatic-financial venues to accomplish” such goals.

[..] Given the close relationship between the U.S. government and these international financial institutions, it should come as little surprise that – in Venezuela – the U.S.-backed “interim president” Juan Guaidó – has already requested IMF funds, and thus IMF-controlled debt, to fund his parallel government. This is highly significant because it shows that top among Guaidó’s objectives, in addition to privatizing Venezuela’s massive oil reserves, is to again shackle the country to the U.S.-controlled debt machine. As the Grayzone Project recently noted: Venezuela’s previous elected socialist president, Hugo Chávez, broke ties with the IMF and World Bank, which he noted were “dominated by US imperialism.” Instead Venezuela and other left-wing governments in Latin America worked together to co-found the Bank of the South, as a counterbalance to the IMF and World Bank.”

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So many millions of victims nobody tries to count anymore.

Venezuela: The US’s 68th Regime Change Disaster (AntiWar)

In his masterpiece, Killing Hope: U.S. Military and C.I.A. Interventions Since World War II, William Blum, who died in December 2018, wrote chapter-length accounts of 55 US regime change operations against countries around the world, from China (1945-1960s) to Haiti (1986-1994). Noam Chomsky’s blurb on the back of the latest edition says simply, “Far and away the best book on the topic.” We agree. If you have not read it, please do. It will give you a clearer context for what is happening in Venezuela today, and a better understanding of the world you are living in. Since Killing Hope was published in 1995, the US has conducted at least 13 more regime change operations, several of which are still active: Yugoslavia; Afghanistan; Iraq; the 3rd US invasion of Haiti since WWII; Somalia; Honduras; Libya; Syria; Ukraine; Yemen; Iran; Nicaragua; and now Venezuela.

William Blum noted that the US generally prefers what its planners call “low intensity conflict” over full-scale wars. Only in periods of supreme overconfidence has it launched its most devastating and disastrous wars, from Korea and Vietnam to Afghanistan and Iraq. After its war of mass destruction in Iraq, the US reverted to “low intensity conflict” under Obama’s doctrine of covert and proxy war. Obama conducted even heavier bombing than Bush II, and deployed US special operations forces to 150 countries all over the world, but he made sure that nearly all the bleeding and dying was done by Afghans, Syrians, Iraqis, Somalis, Libyans, Ukrainians, Yemenis and others, not by Americans. What US planners mean by “low intensity conflict” is that it is less intense for Americans.

[..] While Venezuelans face poverty, preventable diseases, malnutrition and open threats of war by US officials, those same US officials and their corporate sponsors are looking at an almost irresistible gold mine if they can bring Venezuela to its knees: a fire sale of its oil industry to foreign oil companies and the privatization of many other sectors of its economy, from hydroelectric power plants to iron, aluminum and, yes, actual gold mines. This is not speculation. It is what the US’s new puppet, Juan Guaido, has reportedly promised his American backers if they can overthrow Venezuela’s elected government and install him in the presidential palace.

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“..a source in Washington close to the opposition expressed doubts whether the Trump administration has laid enough groundwork to spur a wider mutiny in the ranks..”

US In Direct Contact With Venezuelan Military, Urging Defections (R.)

The US is holding direct communications with members of Venezuela’s military urging them to abandon President Nicolas Maduro and is also preparing new sanctions aimed at increasing pressure on him, a senior White House official said. The Trump administration expects further military defections from Maduro’s side, the official told Reuters, despite only a few senior officers having done so since opposition leader Juan Guaido declared himself interim president last month, earning the recognition of the United States and dozens of other countries. “We believe these to be those first couple pebbles before we start really seeing bigger rocks rolling down the hill,” the official said this week, speaking on condition of anonymity. “We’re still having conversations with members of the former Maduro regime, with military members, although those conversations are very, very limited.”

With the Venezuelan military still apparently loyal to Maduro, a source in Washington close to the opposition expressed doubts whether the Trump administration has laid enough groundwork to spur a wider mutiny in the ranks where many officers are suspected of benefiting from corruption and drug trafficking. Members of the South American country’s security forces fear they or their families could be targeted by Maduro if they defect, so the U.S. would need to offer them something that could outweigh those concerns, said Eric Farnsworth, vice president of the Council of the Americas think tank in Washington. “It depends on what they’re offering,” Farnsworth said. “Are there incentives built into these contacts that will at least cause people to question their loyalty to the regime?”

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A horse felled Troy.

Venezuela’s Maduro Spurns US Aid, Rival Warns Military Not To Block It (R.)

Venezuela’s government on Friday said the United States should distribute humanitarian aid in Colombia where it is being stockpiled, while the opposition warned that blocking much-needed food and medicine could constitute crimes against humanity. A day after the aid convoy arrived in the border city of Cucuta, President Nicolas Maduro ridiculed the United States for offering small amounts of assistance while maintaining sanctions that block some $10 billion of offshore assets and revenue. Rival Juan Guaido, who is recognized by dozens of countries as Venezuela’s legitimate leader, warned military officers against blocking the arrival of aid amid spiraling disease and malnutrition brought on by a hyperinflationary collapse.

“Take all that humanitarian aid and give it to the people of Cucuta, where there is a lot of need,” Maduro said in a news conference. “This is a macabre game, you see? They squeeze us by the neck and then make us beg for crumbs.” “They offer us toilet paper, like (U.S. President) Donald Trump threw at the people of Puerto Rico,” he said at the conference, which experienced technical difficulties including a blackout and a microphone failure. He was referring to Trump’s improvised 2018 aid distribution in the U.S. territory following a hurricane, during which he threw rolls of paper towels.

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“Societies and economies are fundamentally emergent, non-linear, and self-organizing as they respond to the mandates of reality — which are not necessarily consistent with human wishes.”

Dreams Die Hard (Kunstler)

America has been blowing green smoke up its own ass for years, promoting oxymorons such as “green skyscrapers” and “clean energy,” but the truth is we’re not going to run WalMart, Suburbia, DisneyWorld, and the interstate highway system on any combination of wind, solar, geothermal, recycled Fry-Max, and dark matter. We’re just running too much stuff at too great a scale for too many people. We’ve blown through the capital already and replaced it with IOUs that will never be honored, and we’re caught in an entropy trap of diminishing returns from all the work-arounds we’re desperately trying. For all that, there are actually some sound proposals in the mostly delusional matrix of the Green New Deal promoted by foxy front-person AOC.

• Revoke corporate personhood by amending our Constitution to make clear that corporations are not persons and money is not speech. Right on, I say, though they have not quite articulated the argument which is that corporations, unlike persons, have no vested allegiance to the public interest, but rather a legal obligation solely to shareholders and their boards-of-directors.
• Replace partisan oversight of elections with non-partisan election commissions. A no-brainer.
• Replace big money control of election campaigns with full public financing and free and equal access to the airwaves. Quite cheap and worth every penny.
• Break up the oversized banks that are “too big to fail.” And while you’re at it, resume enforcement of the anti-trust laws.
• Restore the Glass-Steagall separation of depository commercial banks from speculative investment banks. Duh….

There are two kinds of deadly narcissism at work in American culture these days: techno-narcissism — the belief that magical rescue remedies can save the status quo of comforts and conveniences — and organizational narcissism — the belief that any number of committees can lead a march of humanity into a future of rainbows and unicorns. Both of these ideas are artifacts of a fossil fuel turbo-charged economy that is coming to an end. Societies and economies are fundamentally emergent, non-linear, and self-organizing as they respond to the mandates of reality — which are not necessarily consistent with human wishes. Circumstances in the world change and sometimes, when the changes are profound enough, they provoke episodes of flux and disorder. A better index for our journey into the unknown frontier beyond modernity will not be what is “green” and “smart” but perhaps what is “sane” and “insane.”

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100 million sharks are killed globally each year.

We need to protect, and love, life in all its glory and beauty, because we are life. But we don’t see what connects us to all that we kill, we think we’re some separate entity.

There is no more flagrant failure in our education systems than this: they don’t teach us who we are.

Wiped Out Before Our Eyes’ Hawaii Proposes Ban On Shark Killings (G.)

Sharks could soon become more numerous in Hawaii waters – and advocates say that’s a good thing. Lawmakers in Honolulu advanced a proposed ban on killing sharks in state waters on Wednesday, after receiving hundreds of calls and letters of support from around the country. The law, which would provide sweeping protection for any shark, rather than select species, could be the first of its kind in the United States. “These amazing animals are getting wiped out before our eyes, and people don’t even realize what they’re missing out on,” said Ocean Ramsey, a Hawaii-based shark conservationist, researcher and tour operator who has been instrumental in lobbying for the bill. Last month, a photo of Ramsey swimming with a 6-metre (20ft) great white shark off the coast of Oahu went viral.


Photograph: OneOceanDiving

Along with killing the animals, capturing or harming them would also incur fines and count as a misdemeanor offense. Sharks, Ramsey said, are deeply misunderstood. Their presence in the ocean is unlike any other animal’s, she noted. “Everything else in the ocean swims away from you, but you can have these incredible interactions with sharks because they’re apex predators and they’re not afraid of you.” The threats to Hawaii’s sharks are numerous, proponents of the bill argue. [..] shark fins can sometimes sell for as much as $500 a pound. Shark fin soup, a delicacy once favored by Chinese emperors, has become widely popular as a status symbol in modern China. As a result, nearly 100 million sharks are killed globally each year, and species are disappearing.

[..] Sharks are crucial to Hawaii’s marine ecosystem, and oceans worldwide. “They’re the ocean’s immune system,” Ramsey said. Multiple studies have linked shark populations to overall ocean health. They serve a critical purpose by picking off sick and injured marine animals and keeping smaller fish populations under control. When the shark population declines, large predatory fish can overproduce and decimate the populations of small plant-eating fish, which are crucial to keeping algae down and supporting reef systems.


Photograph: OneOceanDiving

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Oct 122018
 
 October 12, 2018  Posted by at 1:12 pm Finance Tagged with: , , , , , , , , , ,  6 Responses »


Alfred Eisenstaedt Egyptian Fishing Boats. Suez Canal near Port Said 1935

 

According to Middle East Eye, Richard Branson, Andrew Ross Sorkin, Economist editor-In-chief Zanny Minton Beddoes, World Bank president Jim Yong Kim, New York Times, Financial Times, Uber CEO Dara Khosrowshah, Viacom CEO Bob Bakish and AOL founder Steve Case have all withdrawn from Saudi Arabia’s Future Investment Initiative conference, to be held this month in Riyadh. Branson also put a $1 billion investment plan on hold.

Also, on Wednesday, former US energy secretary Ernest Moniz said that he had suspended his role on the board of Saudi Arabia’s planned mega business zone NEOM, to which he was named on Tuesday. The Harbour Group, a Washington firm that has been advising Saudi Arabia since April 2017, ended its $80,000 a month contract on Thursday. JPMorgan CEO Jamie Dimon is still scheduled to speak at the conference, as is Mastercard CEO Ajay Banga, but they won’t risk the damage to their reputations.

All this is due, obviously, to the disappearance of Jamal Khashoggi, a former close aquaintance of the Saud family, who moved to the US and wrote for the Washington Post (how’s Amazon’s Saudi business, Jeff Bezos?) after falling out with the House of Saud.

As the what someone actually labeled “unfolding diplomatic crisis” takes shape, there is really only one thing to say about these people and organizations: they the worst group of hypocrites ever. And their reasons to boycott the conference must be questioned.

Because before Khashoggi vanished they all apparently though it was quite okay to go feed at the Saud trough, despite the still ongoing slaughter of millions of people in the ‘war’ in Yemen. Which makes one suspect it’s not so much about their principles but about their public image.

Donald Trump said he won’t stop weapons sales to the Saudi’s because they would just buy their arms from someone else, like Russia (it would be interesting to get Putin’s view on Khashoggi). And while Trump is completely wrong here, at least he’s not hypocritical about it.

Not selling guns and tanks is by no means the most forceful action vs MBS and his dad, and not just because they can buy them elsewhere. What’s much stronger as a protest against what apparently happened to Khashoggi is to hit the Sauds where it hurts: in their wallet. That wallet is being filled by the sale of oil.

Simply stop buying their oil. Tell Shell and Exxon and BP and Total to get the hell out of the country. It’s just that to top off the hypocrisy, the best -only?- replacement for Saudi oil is Russian oil, and the US and Europe are engaged in a long drawn out smear campaign to isolate Russia from their world order.

But as long as Richard Branson flies his planes on Saudi oil, what’s the use of him boycotting a conference? Well, other than he hopes it makes him look good in the eyes of the world and feel good about himself? The carnage in Yemen has been going on for years, and all that time Branson has been silent. And was planning to get into a $1 billion investment as emaciated Yemeni babies are fed leaves.

And the idea is not to single him out, those major media organizations and the World Bank are just as bad. They all just hope that no-one will notice or speak out when they grab the Saudi money, and that when they are caught in the middle they will collect applause for making their ‘heroic’ decision not to attend a conference.

That said, it’s interesting to see the story move through the media. Is it the power of Jeff Bezos that gets it so much -and sustained- attention? Did the Saudi’s know that Turkey had their consulate bugged? Isn’t that against international law? How much Saudi oil does Turkey use? Did US intelligence know what was going to happen? Did Turkey?

Why so much more interest in this case than all the other disappearing journalists? Khashoggi is/was no Christ; he was close to the royal family for years while women and gay people and dissidents were under severe threat.

Just more hypocrisy. And if we want to end that, let’s boycott Saudi oil. Let’s use different oil, or none. And until then let’s not fall for the stage performances of all those who all of a sudden want to be seen as principled actors. That’s just about as bad as sawing a guy into pieces.

 

 

Aug 152018
 
 August 15, 2018  Posted by at 9:11 am Finance Tagged with: , , , , , , , , , , , ,  10 Responses »


Paul Signac Maison de Van Gogh Arles 1933

 

Two Greek Soldiers Released From Turkish Jail Return Home (K.)
Turkey Shows Damage Of Fading World Order (R.)
Turkey Hikes Tariffs On Imports Of Selected US Products (AFP)
US Household Debt Rises To $13.3 Trillion In Second Quarter (R.)
Has Bezos Become More Powerful In DC Than Trump? (VF)
Trump Criticizes Some Russia Provisions Of Defense Bill (USAT)
Tonga PM Calls On China To Write Off Pacific Debt (AFP)
“Hothouse Earth” And Neoliberal Economics (IC)
We’re In A New Age Of Obesity. How Did It Happen? (Monbiot)
More Recycling Won’t Solve Plastic Pollution (SciAm)
Glyphosate Is Here To Stay In EU – At Least For Now (Pol.eu)
Help Me, My Prince: Guernsey Resident Halts Roadworks With Ancient Plea (G.)

 

 

Here’s what interesting about this: the two soldiers, who had been in detention for almost half a year for accidentally stepping across the border, were released by a provincial court, and get back home on a Greek national holiday (August 15). On that same day, another court decides that an appeal for pastor Brunson is denied. Ergo, Erdogan can claim the latter’s fate is out of his hands: it’s the court system that decides. That victory over Trump is worth more to him than the defeat of not exchanging the soldiers for the 8 Turkish servicemen who have aylum in Greece.

Two Greek Soldiers Released From Turkish Jail Return Home (K.)

Two Greek soldiers freed after months in a Turkish prison returned to Greece by government jet early Wednesday after their unexpected release by a provincial court. Defense Minister Panos Kammenos said he phoned his Turkish counterpart to express his satisfaction with the soldiers’ release and invite him to visit Greece. “This is a great day for our motherland, the day of Our Lady, the day of Tinos in 1940,” Kammenos told reporters, referring to the Feast of the Dormation, which falls on August 15 and to the Italian torpedoing on a Greek warship on this day in 1940. “I hope that their release … will herald a new day in Greek-Turkish relations. We can live together peacefully, for the benefit of both our peoples.”

The soldiers – 2nd Lieutenant Angelos Mitretodis and Sergeant Dimitris Kouklatzis – were met by Kammenos, the army chief of staff and an honor guard after their arrival at 3 a.m. at the airport in the northern city of Thessaloniki. “All I want to say is thank you,” Mitretodis told reporters. The men were arrested on March 1 for illegally entering Turkey after crossing the heavily militarized land border. Greece strongly protested their long detention in the western town of Edirne, arguing that they had strayed across during a patrol of a trail of suspected illegal immigration amid poor visibility due to bad weather.

[..] The men’s arrest had considerably strained Greek-Turkish relations. Kammenos had claimed that they were being held “hostage” by Turkey, which is trying to secure the extradition of eight Turkish servicemen who fled to Greece after the 2016 failed military coup in Turkey. Ankara accuses its servicemen of involvement in the coup, but Greek courts have refused to extradite them, arguing they would not get a fair trial in Turkey and their lives would be in danger there.

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The world order does too much damage. Just look at the IMF.

Turkey Shows Damage Of Fading World Order (R.)

Turkey’s currency crisis was easy to predict. What is more surprising is how weak the global response has been. The old world financial order is badly missed. A big mess was almost certain to arrive in a country that continually relied on short-term loans to finance a large current account deficit. That was not the only invitation to disaster. Heavy domestic borrowing denominated in foreign currencies and high inflation added to the strains. So did a government that spurned the counsel of the foreign financiers who help keep the economy afloat. President Tayyip Erdogan was lucky to avoid serious trouble so far. Now, though, he faces a disaster. The Turkish lira has fallen 42% against the dollar since the beginning of May. It will take a miracle or an international rescue to avoid a domestic banking crisis.

Much has changed since 2009 when the government, then led by Prime Minister Erdogan, announced that it no longer needed advice from the IMF. The country would “move forward without a walking stick”. Turkey had leaned heavily on the IMF crutch over preceding decades. The country had a standby arrangement with the global lender for more than half the period between 1970 and 2009. The IMF promised support if the government kept working on economic reforms. This time, however, the IMF is still waiting for a phone call from Ankara. The Washington-based institution has the expertise and probably the money needed to stabilise the lira, but Erdogan has cast it in the role of enemy of the Turkish people.

The antipathy fits with the president’s nationalist and authoritarian agenda, but it is also part of a distressing pattern. The traditional authority figures in global financial matters are crippled. The IMF’s reputation has been damaged by what was widely perceived as its blind allegiance to the doctrines of free trade, free capital movements and free markets. Though the multilateral institution’s approach has softened under Christine Lagarde, managing director since 2011, Turkey’s intransigence suggests the IMF lacks its former moral authority.

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And the lira is gaining.

Turkey Hikes Tariffs On Imports Of Selected US Products (AFP)

Turkey is hiking tariffs on imports of certain US products in response to American sanctions on Ankara that caused the value of the lira to plunge, a decree published Wednesday said. Turkish Vice President Fuat Oktay said that the rises were ordered “within the framework of reciprocity in retaliation for the conscious attacks on our economy by the US administration”. The hikes were published in Turkey’s Official Gazette in a decree signed by President Recep Tayyip Erdogan. The move comes after US President Donald Trump announced that the United States was doubling steel and aluminium tariffs on Turkey, as the two NATO allies row over the detention by Turkish authorities of American pastor Andrew Brunson.

The tensions and the tariff hike by the United States have caused the Turkish lira to bleed value, fanning fears the country is on the verge of an economic crisis that could spillover into Europe. Erdogan has repeatedly described the crisis as an “economic war” that Turkey will win. The tariff increases amount to a doubling of the existing rate, the state-run Anadolu news agency said, in an apparent parallel response to Trump’s move. The decree said the move brought tariffs to 50% on imports of US rice to 140% on hard alcoholic drinks like spirits, 60% in leaf tobacco and 60% on cosmetics. The tariffs on auto imports are now up to 120% depending on the type of vehicle.

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The rising debt is linked to a ‘solid labor market’. Well, if it were all that solid (as in higher wages etc.), people wouldn’t need to get into debt.

US Household Debt Rises To $13.3 Trillion In Second Quarter (R.)

Americans’ borrowing reached $13.29 trillion in the second quarter, up $454 billion from a year ago, marking a 16th consecutive quarter of increases, a New York Federal Reserve report released on Tuesday showed. The level of U.S. consumer debt was $618 billion higher than the previous peak of $12.68 trillion in the third quarter of 2008. It was 19.2% above a post global credit crisis low set in the second quarter of 2013, the New York Fed said. The ongoing growth in home, auto, student and credit loans has been linked with a solid labor market. The rise in indebtedness did not make it more difficult for borrowers to meet their monthly payments last quarter.

The rate on seriously delinquent loans, or those that are 90 days or more past due, was 2.3% in the second quarter, unchanged from the prior quarter. Notably, the pace of student loans turning seriously delinquent slowed to 8.6% from 8.9%, the N.Y. Fed survey showed. “While overall delinquency rates have remained stable at relatively low levels, transition rates into delinquency have fallen noticeably for student loan over the past year, reflecting an improved labor market and increased participation in various income-driven repayment plans,” Wilbert van der Klaauw, senior vice president at the New York Fed, said in a statement.

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The Big Tech mix with intelligence and military takes on scary forms.

Has Bezos Become More Powerful In DC Than Trump? (VF)

There’s a new scandal quietly unfolding in Washington. It’s far bigger than Housing Secretary Ben Carson buying a $31,000 dinette set for his office, or former EPA chief Scott Pruitt deploying an aide to hunt for a deal on a used mattress. It involves the world’s richest man, President Trump’s favorite general, and a $10 billion defense contract. And it may be a sign of how tech giants and Silicon Valley tycoons will dominate Washington for generations to come. The controversy involves a plan to move all of the Defense Department’s data—classified and unclassified—on to the cloud. The information is currently strewn across some 400 centers, and the Pentagon’s top brass believes that consolidating it into one cloud-based system, the way the CIA did in 2013, will make it more secure and accessible.

That’s why, on July 26, the Defense Department issued a request for proposals called JEDI, short for Joint Enterprise Defense Infrastructure. Whoever winds up landing the winner-take-all contract will be awarded $10 billion—instantly becoming one of America’s biggest federal contractors. But when JEDI was issued, on the day Congress recessed for the summer, the deal appeared to be rigged in favor of a single provider: Amazon. According to insiders familiar with the 1,375-page request for proposal, the language contains a host of technical stipulations that only Amazon can meet, making it hard for other leading cloud-services providers to win—or even apply for—the contract. One provision, for instance, stipulates that bidders must already generate more than $2 billion a year in commercial cloud revenues—a “bigger is better” requirement that rules out all but a few of Amazon’s rivals.

What’s more, the process of crafting JEDI bears all the hallmarks of the swamp that Trump has vowed to drain. Though there has long been talk about the Defense Department joining the cloud, the current call for bids was put together only after Defense Secretary James Mattis hired a D.C. lobbyist who had previously consulted for Amazon. The lobbyist, Sally Donnelly, served as a top advisor to Mattis while the details of JEDI were being hammered out. During her tenure, Mattis flew to Seattle to tour Amazon’s headquarters and meet with Jeff Bezos. Then, as the cloud-computing contract was being finalized, Donnelly’s former lobbying firm, SBD Advisors, was bought by an investment fund with ties to Amazon’s cloud-computing unit.

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Not enough. He should have refused to sign.

Trump Criticizes Some Russia Provisions Of Defense Bill (USAT)

At a bill signing ceremony in New York on Monday, President Donald Trump took credit for a $716 billion defense policy bill that he said would strengthen America’s military. “I am very proud to be a big, big part of it,” he said. “It was not very hard.” In a written statement hours later, Trump raised objections to 52 provisions of the law – including four of the eight provisions dealing specifically with Russia. The signing statement suggests he may not enforce provisions that he said raise constitutional concerns. As passed by Congress, the defense bill attempts to tie the president’s hands on Russia in a number of ways. It forbids him from using federal funds to recognize Russian control over Crimea and bans military cooperation with Russia until Russia pulls out of Ukraine.

It requires him to report back to Congress on steps he has taken to address Russian violations of the Open Skies Treaty, which allows reconnaissance flights over Russian territory, and the New START Treaty on nuclear weapons. Trump said those provisions undermine the president’s role “as the sole representative of the nation in foreign affairs.” Trump objected to a section requiring him to send to Congress a strategy to combat “malign foreign influence operations and campaigns.” That strategy, he said, is covered by executive privilege. Though presidential objections in signing statements are not uncommon, Trump’s pushback on Russia-related provisions is notable given his attempts to forge closer relations with Russian President Vladimir Putin [..]

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“If we fail to pay, the Chinese may come and take our assets, which are our buildings.”

Tonga PM Calls On China To Write Off Pacific Debt (AFP)

Tonga Prime Minister Akalisi Pohiva has called for China to write-off debts owed by Pacific island countries, warning that repayments impose a huge burden on the impoverished nations. Chinese aid in the Pacific has ballooned in recent years with much of the funds coming in the form of loans from Beijing’s state-run Exim Bank. Tonga has run-up enormous debts to China, estimated at more than US$100 million by Australia’s Lowy Institute think tank, and Pohiva said his country would struggle to repay them. He said the situation was common in the Oceania region and needed to be addressed at next month’s Pacific Island Forum summit in Nauru. “We need to discuss the issue,” he told the Samoa Observer in an interview published on Tuesday.

“All the Pacific Island countries should sign this submission asking the Chinese government to forgive their debts. “To me, that is the only way we can all move forward, if we just can’t pay off our debts.” Tonga took out the Chinese loans to rebuild in the wake of deadly 2006 riots that razed the centre of the capital Nuku’alofa. Beijing has previously refused to write-off the loans by turning them into aid grants but did give Tonga an amnesty on repayments. Pohiva said China now wanted the debts repaid. “By September 2018, we anticipate to pay $14 million, which cuts away a huge part of our budget,” he said. Tonga’s ability to pay has been further dented this year by another massive rebuilding effort in Nuku’alofa, this time after a category five cyclone slammed into the capital in February.

“If we fail to pay, the Chinese may come and take our assets, which are our buildings.” “That is why the only option is to sign a submission asking the Chinese government to forgive our debts.” His comments come as Australia and New Zealand ramp up aid efforts in the Pacific to counter China’s growing presence in the region. Australia has raised fears in recent months Pacific nations’ debts to China leaves them susceptible to Beijing’s influence.

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Not sure climate scientisis talking economics will be taken seriously.

“Hothouse Earth” And Neoliberal Economics (IC)

[..] embedded within the paper is a finding that’s just as stunning: that none of this is inevitable, and one of the main barriers between us and a stable planet — one that isn’t actively hostile to human civilization over the long term — is our economic system. Asked what could be done to prevent a hothouse earth scenario, co-author Will Steffen told The Intercept that the “obvious thing we have to do is to get greenhouse gas emissions down as fast as we can. That means that has to be the primary target of policy and economics. You have got to get away from the so-called neoliberal economics.” Instead, he suggests something “more like wartime footing” to roll out renewable energy and dramatically reimagine sectors like transportation and agriculture “at very fast rates.”

That “wartime footing” Steffen describes is a novel concept in 2018, but hasn’t been throughout American history when the nation has faced other existential threats. In the lead-up to World War II, the government played a heavy hand in industry, essentially shifting the U.S. to a centrally planned economy, rather than leaving things like prices and procurement of key resources up to market forces. By the end of World War II, about a quarter of all manufacturing in the United States had been nationalized. And while governments around the world continue to intervene heavily in the private sector — including in the U.S. — those interventions tend now to be on behalf of corporations, be it through subsidies to fossil fuel companies or zoning laws that favor luxury real estate developers.

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Who are you educating? A kindergarten?

We’re In A New Age Of Obesity. How Did It Happen? (Monbiot)

The light begins to dawn when you look at the nutrition figures in more detail. Yes, we ate more in 1976, but differently. Today, we buy half as much fresh milk per person, but five times more yoghurt, three times more ice cream and – wait for it – 39 times as many dairy desserts. We buy half as many eggs as in 1976, but a third more breakfast cereals and twice the cereal snacks; half the total potatoes, but three times the crisps. While our direct purchases of sugar have sharply declined, the sugar we consume in drinks and confectionery is likely to have rocketed (there are purchase numbers only from 1992, at which point they were rising rapidly. Perhaps, as we consumed just 9kcal a day in the form of drinks in 1976, no one thought the numbers were worth collecting.) In other words, the opportunities to load our food with sugar have boomed.

As some experts have long proposed, this seems to be the issue. The shift has not happened by accident. As Jacques Peretti argued in his film The Men Who Made Us Fat, food companies have invested heavily in designing products that use sugar to bypass our natural appetite control mechanisms, and in packaging and promoting these products to break down what remains of our defences, including through the use of subliminal scents. They employ an army of food scientists and psychologists to trick us into eating more than we need, while their advertisers use the latest findings in neuroscience to overcome our resistance.

They hire biddable scientists and thinktanks to confuse us about the causes of obesity. Above all, just as the tobacco companies did with smoking, they promote the idea that weight is a question of “personal responsibility”. After spending billions on overriding our willpower, they blame us for failing to exercise it.

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Stop making the stuff.

More Recycling Won’t Solve Plastic Pollution (SciAm)

The real problem is that single-use plastic—the very idea of producing plastic items like grocery bags, which we use for an average of 12 minutes but can persist in the environment for half a millennium—is an incredibly reckless abuse of technology. Encouraging individuals to recycle more will never solve the problem of a massive production of single-use plastic that should have been avoided in the first place. Beginning in the 1950s, big beverage companies like Coca-Cola and Anheuser-Busch, along with Phillip Morris and others, formed a non-profit called Keep America Beautiful. Its mission is/was to educate and encourage environmental stewardship in the public. Joining forces with the Ad Council (the public service announcement geniuses behind Smokey the Bear and McGruff the Crime Dog), one of their first and most lasting impacts was bringing “litterbug” into the American lexicon through their marketing campaigns against thoughtless individuals.

Two decades later, their “Crying Indian” PSA, would become hugely influential for the U.S. environmental movement. In the ad, a Native American man canoes up to a highway, where a motorist tosses a bag of trash. The camera pans up to show a tear rolling down the man’s cheek. By tapping into a shared national guilt for the history of mistreatment of Native Americans and the sins of a throwaway society, the PSA became a powerful symbol to motivate behavioral change. More recently, the Ad Council and Keep America Beautiful teams produced the “I Want to Be Recycled” campaign, which urges consumers to imagine the reincarnation of shampoo bottles and boxes, following the collection and processing of materials to the remolding of the next generation of products.

At face value, these efforts seem benevolent, but they obscure the real problem, which is the role that corporate polluters play in the plastic problem. This clever misdirection has led journalist and author Heather Rogers to describe Keep America Beautiful as the first corporate greenwashing front, as it has helped shift the public focus to consumer recycling behavior and actively thwarted legislation that would increase extended producer responsibility for waste management.

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EU inertia.

Glyphosate Is Here To Stay In EU – At Least For Now (Pol.eu)

Monsanto’s glyphosate-based weedkiller will be used in Europe for years to come, legal experts and campaigners say, despite a U.S. court ruling the company should pay $289 million in damages for causing cancer. The EU last year renewed use of the controversial weedkiller for another five years after a yearslong political debate over its safety and impact on the environment. That means Europe will have to wait until the end of 2022 at the earliest before making any attempt to ban the substance outright. Campaigners also say the mounting legal pressure Monsanto faces in the U.S. from thousands of other plaintiffs filing suits against the company is unlikely to be replicated in Europe, namely because Europe doesn’t have the same legal mechanism of a class action lawsuit as the U.S.

“I’m not very confident that the decision in the U.S. will expedite a ban in Europe as it’s a complicated legal process that takes time,” said Arnaud Apoteker, managing director of the NGO Justice Pesticides. “Countries could go back to the Commission to say that the proposal [to renew glyphosate] could be re-tabled, but this is a very lengthy process.” Apoteker has compiled all lawsuits involving pesticides into a single database and has so far only discovered two made against Monsanto in the EU. One dates back to 2007 and was filed by a farmer named Paul François, who alleged Monsanto’s Lasso herbicide caused his chronic illness and that the product was inadequately labeled. The other was filed at a court in Lyon last year by Sabine Grataloup, who accuses Monsanto’s Roundup weedkiller of causing severe malformations in her 11-year-old son Théo.

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Help Me, My Prince: Guernsey Resident Halts Roadworks With Ancient Plea (G.)

A woman has activated the ancient Norman rite of Clameur de Haro to protest against the narrowing of a road which she claims would endanger pedestrians and motorists. Rosie Henderson, from Guernsey, raised the clameur by kneeling and calling for help and reciting the Lord’s Prayer in Norman French. Fully enforceable in Guernsey and Jersey law, it means the construction work in St Peter Port must stop until a court decides the case. Henderson, a parish councillor, raised the clameur on Tuesday by the roads of Les Échelons and South Esplanade, near the construction site. The clameur states: “Haro! Haro! Haro! A l’aide, mon prince, on me fait tort”, translated as “Come to my aid, my prince, for someone does me wrong”.

Whoever calls the clameur has 24 hours to register it in court, but whoever it is called against must stop all work immediately. Legend says the raising of a clameur stretches back to the early Norman period in the Channel Islands and is thought to have been a plea to Rollo, the first Duke of Normandy. The feudal law dates back to the 10th century as a form of self-policing when there was no law enforcement. In 2016, plans to overhaul St Peter Port’s sunken gardens, by levelling the site with the street and moving the war memorial, were withdrawn after protesters pledged to use the Clameur de Haro to block the proposals.

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