Sep 202020
 


René Magritte The song of the storm 1937

 

 

I was going to make this the shortest essay I’ve ever written. “Trump Will Win Because of Energy. Period.” But wouldn’t you know, things start popping up on exactly the topic it was going to be about… The difference in energy between Donald Trump and Joe Biden should be obvious to everyone, including Biden supporters, though they will try to ignore it, as well as the role energy plays in a campaign, as it does in life in general -not just human life either-.

People recognize energy, they feel it. it’s a primal thing, directly linked to survival. It doesn’t get recognized at a rational level, but somewhere much deeper. And it’s not even so much that Trump’s energy levels are above average, for a 74-year old (though they appear to be), but that Biden’s are so far below average – or perhaps exactly what you would expect for a 77-year old, which is why so few of them are running for president of the United States, a job that I think we would all agree requires a lot of energy.

When you take out of the equation which person you like or not, when you disregard their policy proposals, and you only look at energy levels, the difference is vast. And people will catch on to this. The first debate is in 9 days, September 29, and how do you prepare Biden for that? Trump last night suggested his handlers do it by applying ‘big, fat shots in the ass’, but even that wouldn’t do it.

Trump doesn’t need to hammer this point home too hard, it will be obvious no matter what. It may even be better for him to show compassion for Biden. One of the main instructions from his team will undoubtedly be to NOT go after Joe Biden so hard it will make him stutter. Because that would make Trump look like a bully, and give Biden points on compassion from the audience.

But I doubt Trump will be able to help himself. And perhaps, at least from his point of view, he should just be and remain who he is. Because that worked four years ago. Will these be the best-watched debates in history? Quite possibly. Meanwhile, as Trump yesterday worked all day -if we are to believe the reports- and then campaigned all night in Fayetteville NC, Biden was MIA.

That by now is a pattern. As is the mysterious lack of door-to-door campaigning by the Biden team. It may not be impossible to win that way, but it certainly would be a first. And it makes the team look like they have a similar energy level to Biden himself (In another mystery, we see people talk about finding it hard to get yard signs for the Biden campaign).

That leaves you with the impression that the Biden team really has just one message: Orange Man Bad. Not: vote *for* me, but vote *against* the other guy. the racist/rapist who killed 200,000 Americans and offends “our” troops”. That in turn appears to signal that what energy there is, is negative energy. Doesn’t look like a winning formula.

But if the media, including social media, keep on pumping out that same message 24/7, who knows how many people will buy into it? After all, Twitter and Facebook et al are even more important influencers today than they were in 2016. Then again, the Trump people seemed to be much stronger on social media back then, and why would they have squandered that advantage? But then again, again, they weren’t constantly censored and banned then.

Trump last night in Fayetteville:

‘Big, Fat Shots In The Ass’: Trump Again Suggests Biden Is On Energizing Drugs

Donald Trump has mercilessly taunted Joe Biden, telling supporters that his Democratic nemesis must be taking performance-enhancing substances and should undergo a drug test. Trump reiterated previous casual accusations that Biden is too senile to be a good fit for the US president’s office while talking to a crowd of supporters in Fayetteville, North Carolina. Using his nickname for his Democratic opponent, Trump said that “Sleepy Joe” is appearing conspicuously efficient during debates and public events.

“Don’t underestimate [him], he’s been doing this for 47 years. And I got a debate coming up with this guy,” Trump said as he grinned, before suggesting that performance-enhancing substances were behind Biden’s efficiency. “You never know, they gave him a big, fat shot in the ass and he comes out,” Trump claimed as his audience laughed. “And for two hours he’s better than ever before. The problem is, what happens after that,” the Republican president added. Adding insult to the injury, Trump said offering a drug test to Biden is an option.

Remarkably, this is not the first time the 74-year-old president has accused his 77-year-old rival of being on drugs. Over a week ago, he fanned the claim while speaking to Fox. “I think there’s probably, possibly, drugs involved,” Trump told host Jeanine Pirro. “I don’t know how you can go from being so bad where you can’t even get out a sentence…” he speculated without finishing the sentence.

Trump and Biden are expected to face each other during debates in Cleveland on September 29, in Miami on October 15, and in Nashville on October 22. Their vice-presidential nominees Mike Pence and Kamala Harris will have a one-on-one in Salt Lake City on October 7.

 

 

In that same vein, there was also this from Irishman Graham Dockery on August 27:

Trump Has Called On Biden To Take A Drug Test. Why Don’t Both Old Guys Take This Idea Seriously?

Trump is 74 years old and Biden 77. If elected, Biden would be the oldest president in history, and would assume office at the same age Ronald Reagan left the White House – himself exhibiting the telltale signs of Alzheimer’s disease. If Trump wins, he’ll beat Reagan’s record by one year. Ten percent of white Americans over the age of 65 suffer from Alzheimer’s and related dementias. After 65, the risk of dementia doubles every five years. Even if Biden was speaking coherently, he would have a one-third chance of developing dementia by the end of his first term. Likewise, while Trump may appear sharp, he’s twice as likely to be losing his marbles now than he was in 2016.

Modern drugs can mask the symptoms of cognitive decline fairly well. Donepezil, Galantamine, Memantine and Rivastigmine are all used to boost memory, attention and the ability to perform simple tasks – like using a phone. Aside from these prescription medications, a candidate looking for a quick pre-debate fix could swallow some Adderall, a legal amphetamine that boosts cognition, short term memory and attention span, not to mention whatever experimental cocktails these two might have access to.

I’m not suggesting that either candidate is a chattering speed-freak. Trump’s opponents have beaten that drum before, accusing the president of railing Adderall every time he sniffs in a speech. Biden, on the other hand, looks like a man who could use an infusion from Doctor Feelgood. But it would be nice to know for sure. Most Americans would likely balk at the idea of sending a medicated husk to negotiate with allies and outwit adversaries. Let the two men competing for this position lay their cards on the table, and let the American public use this information to inform their decision.

After all, this is the leader of the free world we’re talking about, the man who, with a flick of his finger, could doom the planet to nuclear holocaust. It’s probably best if this leader remembers where he left the tapioca pudding.

 

Note that by now Trump’s advantage on energy says little about how the 2020 election will eventually be decided. It’s no longer possible for the US to NOT to sink into a deep quagmire because of mail-in ballots and the many days it may take to count them, the hundreds of lawyers that will be involved in various stages of that process -including many lawsuits-, and the Supreme Court, which will be a major election issue before November 3, and a possible/probable deciding factor sometime after that date.

Add to this that having the most votes, or even the highest numbers in the Electoral College system, no longer guarantees you a victory -because: lawyers and because: states may try to tamper with that system- and you end up with the most godawful mess ever. You would think everyone in Washington has an interest in not letting the city devolve into a circus tent where the clowns end up fighting the lions and tigers, but apparently they all have “more important” things to consider.

And all the time I’m thinking, guys, take care of your country, at least someone take care of it, you’re going to have to live in it together next year and the year after that etc.

 

 

 

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Sep 072020
 
 September 7, 2020  Posted by at 9:46 am Finance Tagged with: , , , , , ,  12 Responses »


Robert Doisneau Le Baiser Blotto, Paris 1953

 

Assange Makes His Way To Date With Destiny He Always Predicted (SMH)
Interview With Barry Pollack, Julian Assange’s US Lawyer (Gosztola)
The Fight To Control Who Reports From Portland (Reason)
Growing Numbers Of District Attorneys Are Out To Undermine The Law (NYP)
DC PR Firm Ran Fake News Networks For Right-Wing Latin American Regimes (GZ)
Biden Ad About Trump Plan That Doesn’t Exist Receives 4 WaPo Pinocchios (WJ)
A Rogue Institution And Clear & Present Danger To Liberty In America (Stockman)
Russians Are The Dumbest Idiots On The Planet! (Saker)

 

 

The only thing I, or anyone, should be writing about really today is the ultimate disgrace that is the Julian Assange extradition hearing which just started at the Old Bailey in London. What else matters on a day like this? Then again, the hearing is supposed to last for three(?!) weeks, so we’ll have plenty to say about it.

For now, I’ll just repeat: this is how we treat our best and brightest. It’s a deeply sad day. And yes, who are we to let this happen? What prospects, or even rights, do we have for a better future for ourselves and our children if we let him be silenced and killed? Don’t we allow those prospects and rights to be killed along with him?

 

 

 

 

US new daily cases at their lowest since June 21.

 

 

 

 

 

Herd immunity

 

 

it’s ironic that Julian was the only one who knew about this for years. Perhaps even more ironic, though, is that he allowed himself to be set up.

Assange Makes His Way To Date With Destiny He Always Predicted (SMH)

As Julian Assange makes his way in a prison van this morning, London time, to the Old Bailey Central Criminal Court for his US extradition hearing, he’s heading for a date with destiny he long predicted. In Melbourne in 2010, after he had released the infamous US helicopter gunship video, Collateral Murder, which showed innocent civilians, including two Reuters news staff being mown down in a Baghdad square, Assange worried about being snatched off the streets. Now the United States is trying a less dramatic but equally questionable version of its CIA rendition program. The attempt to extradite Assange is designed to stifle dissent, sending a chill through the ranks of investigative journalists worldwide. If Assange can be prosecuted for exposing evidence of US war crimes, so can any journalist anywhere in the world.

It was just such a fear of being extradited to the US that led Assange to successfully seek asylum in London’s Ecuador embassy in 2012, where he remained until April last year when police stormed in and arrested him – a particularly zealous act for the relatively minor offence of skipping bail. As he makes his way into the court today, Assange is walking in the footsteps of one of the UK’s most celebrated investigative reporters, who exposed Britain’s worldwide electronic intelligence gathering operation. Duncan Campbell, working for the magazine Time Out in London, had revealed the existence of the then secret Government Communications Headquarters, Britain’s version of the Australian Signals Directorate and the US National Security Agency.

Campbell was arrested in 1977 with two other men and accused of being a spy. He was charged with “unauthorised receipt of classified information” and publishing information “intended to be directly or indirectly useful to an enemy”. The trial collapsed after the defence exposed the fact the prosecution had stacked the jury with military personnel and others who had signed the Official Secrets Act. It was evidence of just how far the British state would go in its attempt to secure a conviction in a national security case. Fifty years later, Assange can point to a similar intervention, when the Crown Prosecution Service appeared desperate to pressure Sweden not to “get cold feet” as it considered dropping an extradition request regarding sex allegations against Assange.

Despite repeated denials by the British government, Assange has always argued the Swedish extradition was part of a plan to pass him to the US. It seems he was right. There’s also the role of the chief magistrate, Lady Emma Arbuthnot. She broke the judicial rules of impartiality by not recusing herself from overseeing the Assange case. Her husband, a member of the House of Lords, is a former Conservative defence minister. He was also a paid consultant for a company run by the former head of MI6. A second hearing found Campbell and his co-defendants guilty of unauthorised receipt of classified information. They were given non-custodial sentences. Possibly as a result of the public uproar about what had happened, the more damaging charge against Campbell was dropped.

Assange

Read more …

“…every day the New York Times and the Washington Post publish classified information..”

Interview With Barry Pollack, Julian Assange’s US Lawyer (Gosztola)

GOSZTOLA: One of the issues that has become pronounced is we see the U.S. government making this argument that Julian should be denied First Amendment rights while at the same time suggesting they can bring a prosecution under the Espionage Act. But many defense attorneys have defended alleged leakers by claiming the Espionage Act is too broad when it comes to the First Amendment, making First Amendment defenses to try to see how far those might go. How do you view this dynamic that is part of the U.S. prosecution?

POLLACK: The position that the U.S. is taking is a very dangerous one. The position the U.S. is taking is that they have jurisdiction all over the world and can pursue criminal charges against any journalist anywhere on the planet, whether they’re a U.S. citizen or not. But if they’re not a U.S. citizen, not only can the U.S. pursue charges against them but that person has no defense under the First Amendment. It remains to be seen whether a U.S. court would accept that position, but that certainly is the position that the government is taking. In the cases that have been brought under the Espionage Act to date, efforts to build defenses around the First Amendment have been quite unsuccessful. The courts have not [generally allowed or supported defenses] based on the First Amendment. But those are cases where the defendant was a leaker, not a publisher. This case is unique. The U.S. government has never tried to charge a journalist or a publisher under the Espionage Act.

GOSZTOLA: That raises an important question in my mind, which is, how can someone who is not from the U.S. be expected to submit to these U.S. secrecy laws and regulations, especially when he never signed a non-disclosure agreement? A key part of these Espionage Act prosecutions are that they are brought forward as strict liability offenses, that he signed something. It seems that there is no evidence whatsoever in favor of the U.S. government that he signed anything to agree to not disclose information.

POLLACK: That’s correct. In the cases that have been brought to date, the charges have been against an employee of the government, a government contractor, a former employee of the government, all people who entered into an agreement with the government that they would not disclose classified information. Journalists don’t enter into that type of agreement, and every day the New York Times and the Washington Post publish classified information. The Department of Justice has never charged a domestic reporter under the Espionage Act. Up until the current administration, I think it was widely understood that doing so would be inconsistent with the First Amendment. Publishers do not have those kinds of non-disclosure agreements. They report what is newsworthy, and that includes classified information that comes into their possession.

What the government is doing here is not only charging a publisher who has no non-disclosure obligation but charging a publisher who is not in the United States. They’re charging an Australian citizen, who is publishing from the U.K. So it is an unprecedented prosecution.

Read more …

Behind the masks.

The Fight To Control Who Reports From Portland (Reason)

“YOU’RE NOT ALLOWED TO FILM!” is a cry you hear incessantly at protests in Portland, Oregon, always shouted at close range to your face by after-dark demonstrators. You can assert that, yes, you can film; you can point out that they themselves are filming incessantly; you can push their hands away from covering your phone; you can have your phone record them stealing your phone—all of these things have happened to me—and none will have any impact on their contention that “YOU’RE NOT ALLOWED TO FILM” and its occasional variation, “PHOTOGRAPHY EQUALS DEATH!” I cannot say who came up with these anti-camera battle cries. But it’s easy to understand why protesters use them: to shape the narrative the country sees about the protests.

And that narrative, in my estimation after many weeks covering street clashes in a city where I lived for 15 years, is 90 percent bullshit. I wondered, the first time I attended the protests at the federal building back in July, who all these young people with PRESS emblazoned on their jackets or helmets were. I asked one such guy who he worked for. “Independent Press Corps,” he told me. As it turned out, dozens of other young PRESS people happened to work for the same outfit, which I at first assumed was a fancy way of saying “I want to report stuff and stream it on my Instagram.” This turned out to be naive. The IPC is an organized group in league with the activists, and it is usually their footage you see streamed online and recycled on the news: mostly innocent protestors being harassed and beaten by police.

The police indeed have tear-gassed and beaten people; there has been brutality. It is equally true, but featured less prominently in the news coverage, that activists spend hours every night menacing and setting fires to police stations and other institutions: City Hall, Immigration and Customs Enforcement headquarters, and last week Mayor Ted Wheeler’s apartment building (until he agreed to move out). With the PRESS crew recording part of the story and the “YOU’RE NOT ALLOWED TO FILM!” crew harassing other journalists, the result can be a misleading view of the protests. It’s a revolution via the cellphone video they allow you to see. The IPC and other documentarians who are deemed sympathetic to the activists’ cause agree on certain principles. You do not show activists’ faces.

You only show activists in a defensive position: responding to, rather than inciting, violence. You enhance what can appear to be police brutality, e.g., activists defending themselves with homemade shields, often bearing the anarchist circle-A, against police. The shields are largely ineffective for personal defense, but extremely effective for optics, and that’s precisely the point. If a member of the IPC is arrested, he or she will be protected. Reporters seen as not sufficiently sympathetic to the cause—which is defined by the Ten Demands for Justice, and includes most notably the abolition of the police—will be followed, be harassed, have their notes photographed and their phones blocked or stolen. (All these things have happened to me in the last month. A photographer friend has been repeatedly doxxed and placed on a list of “enemies.”)

If you forget any of these rules, you can just refer to the handy Google spreadsheet of approved journalists and suggested behavior. The spreadsheet contains names, Twitter handles, and ways to financially support the journos who make the cut.

Read more …

No matter what side you’re on, this is quite the development.

Growing Numbers Of District Attorneys Are Out To Undermine The Law (NYP)

One reason for the surging, often protracted violence in US cities is the rise of a host of progressive prosecutors who actually tilt against law and order. The trend is most glaring in places known for their kooky left-wing politics, like Portland and San Francisco, but extreme leftists have also taken over as district attorneys in cities like Chicago and Boston. Many owe big thanks for their elections to funding from far-left fatcat George Soros. In Portland, violent “protests” have dragged on for months, thanks to the idiocy of Mayor Ted Wheeler, who let hoodlums drive him out of his own condo — but also to Multnomah County DA Mike Schmidt, who dropped charges against hundreds of people arrested for offenses like interfering with cops, disorderly conduct, criminal trespass and rioting. Schmidt also made it harder to prosecute assaults on cops.


In Contra County, Calif., outside San Francisco, DA Diana Becton will now consider looters’ “needs” when weighing criminal charges. At Politico, she and four other black, female DAs (from Chicago, Boston, St. Louis and Durham) actually slammed the very criminal-justice system they were elected to enforce — ludicrously claiming it was “constructed to control Black people and people of color” and that it’s now doing just that. The Bay City’s DA is Chesa Boudin, the son of Brink’s robbery cop-killers who was raised by radical Weather Underground leaders Bill Ayers and Bernardine Dohrn. He, too, has adopted rules making it harder to prosecute suspects. Chicago’s State’s Attorney Kim Foxx, who vowed to cut the jail population, dropped 35 percent more felony cases than her predecessor over three years (including that of alleged racial hoaxter Jussie Smollett).

Read more …

I think of Assange immediately when I read things like this.

DC PR Firm Ran Fake News Networks For Right-Wing Latin American Regimes (GZ)

A major US PR firm located just a few blocks from the White House has been caught running an industrial grade propaganda operation on social media. The information warfare blitzkrieg relied on fake accounts and pages to spread disinformation on behalf of right-wing, US-backed governments in Latin America, while deploying covert propaganda to destabilize the leftist governments targeted by the US in Venezuela and Mexico. The company behind the campaign, CLS Strategies, signed a contract to represent Bolivia’s far-right junta and provide “strategic communications counsel” in the lead-up to that country’s ostensible election. After coming to power through a US-backed military coup in November 2019, the Bolivian regime has delayed the election numerous times on specious grounds.

CLS Strategies also used its network of fake accounts and pages to push propaganda on behalf of Venezuela’s right-wing opposition and the US-backed parallel coup regime of Juan Guaidó. Some of the CLS-run Facebook and Instagram profiles even posed as disgruntled Venezuelan soldiers, and called on members of the armed forces to rebel against the socialist government. Other pages claimed to be run by disaffected former supporters of leftist leaders like Venezuela’s Hugo Chávez and Bolivia’s Evo Morales. The DC-based company similarly filled social media with disinformation demonizing Mexico’s left-wing President Andrés Manuel López Obrador (AMLO) and his party Morena, who have been under increasing attack by right-wing oligarch forces. On Facebook, the PR firm spent a staggering $3.6 million on ads to promote this propaganda.

CLS Strategies has close links to the US government. The firm employs former government officials like Mark Feierstein, who oversaw Latin America policy for the Obama White House. Feierstein also served as coordinator of Latin America activities for the US Agency for International Development (USAID), a regime-change arm that has been used as a front for covert CIA operations and spearheaded the Trump administration’s coup attempts in Venezuela. Another CLS senior advisor, David Romley, worked as a Pentagon spokesman, press attaché to the secretary of defense, and public affairs officer for the US Marine Corps. Before moving to CLS, Romley also served as vice president for communications at the German Marshall Fund, a prominent Cold War-era think tank funded by the US government and NATO that has been integral in pushing the new cold war on Russia and China.

[..] he Grayzone has reported on social media corporations’ US government-backed censorship of independent media outlets and voices critical of US foreign policy. Virtually all of Facebook’s purges of alleged fake accounts have targeted foreign governments and firms in other countries. The CLS Strategies fake news ring is apparently the first time Facebook has ever taken down a US-based operation. Facebook published a press release on September 1 acknowledging that it had removed a network of 55 fake accounts and 42 pages, along with 36 Instagram profiles…

Read more …

WaPo are his best friends.

Biden Ad About Trump Plan That Doesn’t Exist Receives 4 WaPo Pinocchios (WJ)

The truth is that the Biden campaign lied, according to The Washington Post, which awarded the campaign its maximum rating for untruthfulness over a recent ad. The ad puts a highly unfavorable spin on President Donald Trump’s executive order that created a payroll tax holiday. The order did not end the payroll tax, which funds Social Security, but deferred it. Trump’s order was accompanied by comments from the president saying that he would like to see the tax eliminated in the future and that if re-elected, he would seek to make that happen. The Biden ad claimed: “The chief actuary of the Social Security Administration just released an analysis of Trump’s planned cuts to Social Security. Under Trump’s plan, Social Security would become permanently depleted by the middle of calendar year 2023.

“If Trump gets his way, Social Security benefits will run out in just three years from now. Don’t let it happen. Joe Biden will protect Social Security.” Well, not quite. As The Post noted, Stephen Goss, the chief actuary of Social Security, was asked by four Democratic senators to respond to “hypothetical legislation” that would mandate a “zero percent” payroll tax. The senators wanted to know how long it would take for Social Security to run out of funds if no money flowed into its coffers. “I am not aware that anyone has proposed the hypothetical legislation you describe,” Goss riposted in his reply. He then said that if there was no new money flowing, the fund would run dry up in 2023.

However, Goss also said that if any new legislation used the U.S. Treasury’s General Fund instead of the payroll tax as the source of the funding to meet Social Security’s needs, which is what Trump proposed, “the projected depletion date of the trust fund reserves would be essentially unaffected by the legislation.” What this means, according to The Post, is that “Democrats ginned up a letter from the chief actuary to describe a plan that does not currently exist.” [..] “The ad cites ‘Trump’s plan.’ But the actuary’s letter says it is referring only to a hypothetical plan sketched out by Democrats.”

The Post pointed out that the Biden campaign ad misrepresents Goss’ letter. “The ad asserts that if ‘Trump gets his way,’ benefits will run out. But actually the letter says if transfers are made from general funds, no benefits would run out. That, at least at the moment, is what Trump says he would do. “That adds up to Four Pinocchios,” Kessler wrote. On its ratings scale, no whopper is a bigger lie than one that receives four Pinocchios.

Pelosi: Wrap-up smear

Read more …

The Fed will have to end itself. We’re not able.

A Rogue Institution And Clear & Present Danger To Liberty In America (Stockman)

We have never heard more gibberish, double talk, and lies from one podium than we have from Fed Chairman Powell. There is no other way to say it: The Fed has become a dangerous rogue institution that has usurped plenary power over the financial system. This is all based on implicit theories that eventually lead to a massive speculative blow-off, even as it sucks the vitality out of the Main Street economy in the interim. The implicit theory is brazenly simple: The Fed believes that relentless credit expansion fosters greater economic growth and full employment. It believes that there is no practical limit to how much debt the household, business, and government sectors of the economy can tolerate or any notable adverse trade-offs from ever-higher leverage ratios.


Self-evidently, lower interest rates foster more debt issuance. When economic growth falters for any reason, the Fed’s first action is to push rates even lower. This ratcheting process has gone on for more than three decades, and interest rates have, for all practical purposes, been obliterated. The chart below takes all the short-run bobbing and weaving out of the GDP data by showing the rolling 20-year average of annual growth. It is dispositive. By 2019, the rolling 20-year growth trend had fallen to 2.1% per annum—a figure less than half of the 4.4% level in place exactly 50 years ago.

The above dismal trend line was not for want of trying with the debt elixir. At the end of 1969, total public and private debt (blue area in the chart below) stood at $1.54 trillion, which has since mushroomed to, well, nearly $78 trillion! In exactly half a century, the level of debt weighing on the US economy attributable to all borrowers—households, businesses, governments, and financials—is up by 51X. However, at the same time, the national income or nominal GDP (red area in the chart below), which supports it, has risen by only 21X. That alone points to the skunk in the woodpile.

The debt-to-GDP ratio in 1969 stood at 1.47X, which had been roughly centered in that area for a century since 1870—an interval that saw the greatest explosion of economic growth, mass prosperity, technological progress, and accumulated wealth in human history. It happened without any increase in the national leverage ratio at all. It had remained at the golden mean of 1.5X debt-to-income throughout. Today the total debt-to-national income ratio stands at 3.47X, or exactly two more turns of debt than 50 years ago. To be sure, two extra turns of debt sounds like investment banker jargon, but the phrase captures the essence of the rot that lies at the heart of the nation’s financial system and economy. Those two extra turns amount to $43 trillion of incremental debt, which constitutes the millstone crushing economic growth and the rudiments of sustainable prosperity.

Read more …

Is Germany just out for cheaper gas?

Russians Are The Dumbest Idiots On The Planet! (Saker)

Russians are dumb. Hopelessly stupid. They are amateurs of the worst kind. Ignoramuses on steroids. Why? Well, for one, their so-called super-dooper biowarfare agent “Novichok” seems unable to kill anybody. The Russians must have realized that. This is why, when they tried to kill Skripal (after freeing him from jail) they put that Novichok thing all over the place: on the bench near Salisbury, on Skripal’s door handle, even in some bottle of perfume a local addict found in the trash. Probably all over the Skripal home, and this is why the Brits initially said that they would tear down the extremely toxic place (yet both the Skripal cat and their hamster survived – tells you how utterly useless that pretend biowarfare substance really was…). One would have thought that after this total cluster-bleep the Russians would have learned their lesson.

But no. They are clearly too dumb for that. So they decided to poison Alexei Navalnyi, a well-know “dissident”. And they failed. Again! Not only did they use exactly the same “Novichok” (or so says the German media), they allowed Navalnyi’s aircraft to make an emergency landing and the FSB did nothing to prevent an ambulance to bring Navalnyi to a hospital. Apparently, the FSB does not even have the authority to prevent such urgent treatment of the man they want to kill. Heck, they can even create a traffic jam to prevent Navalnyi from getting to a hospital. How incompetent! Even worse, these accursed Russki doctors gave Navalnyi atropine, the exact same substance the Germans gave him. Makes me wonder if these doctors were not all CIA/BND agents trying to save Navalnyi’s life…


Clearly, the FSB are also stupid: they can’t even get aircraft or doctors to obey them… But it gets worse. In spite of the fact that Navalnyi has broken the terms of his suspended sentence and in spite of the fact that such a person cannot leave the country, these Russian imbeciles allowed him to fly to Germany while his body was still full of Novichok sloshing around. All the Russians needed to do to kill Navalnyi would have been to give him a heart attack using any one of the many untraceable agents in existence (say, potassium chloride). In despair, the clueless FSB might have caused Navalnyi do die in a car “crash”. But they can’t even do that. Shame on you, FSB! And since Navalnyi is diabetic, killing him ought to be fantastically simple: just give him the wrong dose of meds and, voilà, bye-bye Navalnyi. But not, these idiots decided to use the now infamous Novichok.

Read more …

 

 

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Sep 062020
 


Vincenzo Camuccini La Morte Di Cesare 1804

 

Trump and Biden Could Face Dramatic Post-Election Battle (Yoo)
Russia COVID19 Vaccine Effective Against Any Dose Of Virus (RT)
Total COVID19 Deaths Projected To Double In US, Triple in World By Jan. 1 (R.)
PCR Tests ‘Could Be Picking Up Dead Coronavirus’ (BBC)
Italian Mayor Wants Penalties For Wearing A Face Mask When Unnecessary (RT)
New Media Propaganda Tool: Use “Confirmed” to Mean its Opposite (Greenwald)
The Stunning Synergy of The Atlantic’s Anonymous Attack on Trump (Pollak)
Strzok Joins Weissmann, Doubts NYT story on FBI’s Trump-Russia Inquiry (WE)
The Fed’s New Policy Won’t Get Inflation (Roberts)
Majority Of US Young Adults Live With Parents For The 1st Time In 80 Years (Pew)

 

 

We’re full speed ahead into absolute election mayhem, and nobody’s even thinking of pulling the brakes. Throw in a second and third corona wave, more lockdowns, more riots.

 

 

Today’s numbers gain in importance because of a model (see below) that predicts that before January 1, US total deaths will more than double to 410,000, and the world’s will triple to 2.8 million. A bold prediction.

 

 

 

 

 

 

 

I suggest you read this well. You’ll understand how this really works, and come away thinking you don’t understand a thing.

Trump and Biden Could Face Dramatic Post-Election Battle (Yoo)

The Constitution requires the winner of the presidential election to garner a majority of the 538 votes in the Electoral College. Hillary Clinton won about 3 million more popular votes than Trump four years ago, but Trump won a clear Electoral College majority of 306-232. But if the election is close this year — as many prognosticators predict — and a few battleground states fail to report their votes on time, then neither President Trump nor former Vice President Biden might be able to assemble the required 270 electoral votes needed to become president. If such a stalemate occurs, a constitutional fail-safe would throw the election into the House of Representatives. Our nation barely avoided that outcome 20 years ago and has only used it twice in our history.

But even though the House will likely remain under Democratic control after the election, the Constitution’s process for resolving disputed elections should still bode well for Trump’s reelection. How could control of the White House end up in the domain of House Speaker Nancy Pelosi, D-Calif.? It depends on the decisions made 230 years ago. America’s founders rejected the idea that Congress should pick the president, which they believed would rob the chief executive of independence, responsibility and energy. They wanted the American people to have the primary hand in choosing the president. But the founders wanted the choice mediated through the states, because they also feared direct democracy.

In a compromise that binds us still, the founders allowed state legislatures to pick electors for the president, based on their number of senators and members of the House combined. The state-based organization of the Electoral College and its slight advantage for states with small populations (which receive two extra Electoral College votes no matter their population, since every state has two senators) underscore the founders’ desire to give federalism a say in the choice of the president. The founders went further in designing their constitutional backup. They realized that the Electoral College might yield no majority winner. They expected that regions might support their favorite sons instead.

In Article II of the Constitution, as modified by the 12th Amendment, the framers established that if no one won a majority of Electoral College votes, the House would pick the president from the top three vote-getters. But Pelosi and the Democrats — assuming that they hold onto their majority in the House — still won’t pick the president. Rather than allowing a simple majority vote in the House to select the president, the Constitution requires that the House choose the president by voting as state delegations. That means that California (represented by 53 House members) and Delaware (represented by 1 House member) would each get a single vote to pick the president. Once again, the founders decided to amplify the voice of the states in the presidential selection process, rather than defaulting to pure democracy.

And that is how Trump could win the presidency again. If the Electoral College votes yield no majority winner Dec. 14, the Constitution sends the vote to the House. Thanks to Republican advantages among the states, rather than the cities, the current balance of state delegations in the House favors Republicans, with 26 delegations controlled by Republicans and 23 controlled by Democrats (Pennsylvania is tied). If today’s House chose the president by voting by state delegations, Trump would win. But there is one more twist. The 20th Amendment to the Constitution seats a new Congress on Jan. 3, but does not begin the term of a new president until noon on Jan. 20. That means the new House chosen in the November election, rather than the current House, would choose the president if neither Trump nor Biden wins an Electoral College majority.

Even though Republicans currently have a majority of House delegations, Democrats have narrowed the gap. After the 2016 elections, Republicans had held a 32-17 advantage in House delegations. If Democrats can win one more congressional seat in Pennsylvania and then flip one more delegation, they could achieve a 25-25 tie in the House in January. Under this scenario, the election would require political bargaining of the most extreme kind for the House to resolve a disputed presidential election. But suppose the House can’t agree, which could well be likely given the polarization of our politics. The Constitution even provides for this. If the House splits 25-25 between Trump and Biden, then the 20th Amendment elevates the vice president-elect to the presidency. Under the 20th Amendment, when the Electoral College fails, the Senate chooses the vice president.

But unlike the House procedure, the senators each have an individual vote, meaning that under the current balance in the upper chamber, 53 Republicans would choose Mike Pence to effectively become the next president. But one-third of the seats in the Senate will be filled in the November election, meaning control of the chamber could flip to the Democrats. Under this scenario, Democratic vice presidential nominee Sen. Kamala Harris, D-Calif., could wind up as our next president and make history as the first woman to hold the office in American history. All of this is as complicated as it sounds. Election Day could be just the start of a new phase in a prolonged fight for control of the White House, rather than the conclusion of a long campaign.

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Vaccination to start as early as October. What if it is a huge success, what will the west do?

Russia COVID19 Vaccine Effective Against Any Dose Of Virus (RT)

The leader of the team behind Sputnik V said on Friday that the immune response documented among volunteers taking the world’s first registered coronavirus vaccine is sufficient to fight any level of Covid-19 infection. Alexander Gintsburg, head of Moscow’s Gamaleya Research Institute of Epidemiology and Microbiology, was speaking on the same day that The Lancet reported on trials confirming that every patient who received the vaccine had developed antibodies without any significant side-effects. The British publication, one of the oldest and best-respected medical journals in the world, confirmed that the Sputnik V vaccine had successfully produced antibodies in all 76 participants in early-stage trials.


“The vaccine’s immune response documented currently among volunteers is enough to counter any dose of Covid-19 that you could imagine,” Gintsburg said. Meanwhile, Moscow Mayor Sergey Sobyanin has revealed that post-registration clinical trials of Sputnik V in the capital could last from two to six months. He also confirmed that mass vaccination is likely to start in late 2020 or early 2021. “Some batches will arrive as early as this year,” he told Russia’s Channel One TV in an interview shown on Saturday. “There’s every likelihood that they will be used to vaccinate risk groups. These are healthcare, education, trade, the housing and utilities sectors, law enforcement agencies and some others – perhaps journalists.”

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We need more models than just this one. But scary it is.

Total COVID19 Deaths Projected To Double In US, Triple in World By Jan. 1 (R.)

U.S. deaths from the coronavirus will reach 410,000 by the end of the year, more than double the current death toll, and deaths could soar to 3,000 per day in December, the University of Washington’s health institute forecast on Friday. Deaths could be reduced by 30% if more Americans wore face masks as epidemiologists have advised, but mask-wearing is declining, the university’s Institute for Health Metrics and Evaluation said. The U.S. death rate projected by the IHME model, which has been cited by the White House Coronavirus Task Force, would more than triple the current death rate of some 850 per day.


“We expect the daily death rate in the United States, because of seasonality and declining vigilance of the public, to reach nearly 3,000 a day in December,” the institute, which bills itself as an independent research center, said in an update of its periodic forecasts. “Cumulative deaths expected by January 1 are 410,000; this is 225,000 deaths from now until the end of the year,” the institute said. It previously projected 317,697 deaths by Dec. 1. The model’s outlook for the world was even more dire, with deaths projected to triple to 2.8 million by Jan. 1, 2021.

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Why have we been focusing on PCR as much as we have? It is so far from perfect it’s not funny anymore.

PCR Tests ‘Could Be Picking Up Dead Coronavirus’ (BBC)

The main test used to diagnose coronavirus is so sensitive it could be picking up fragments of dead virus from old infections, scientists say. Most people are infectious only for about a week, but could test positive weeks afterwards. Researchers say this could be leading to an over-estimate of the current scale of the pandemic. But some experts say it is uncertain how a reliable test can be produced that doesn’t risk missing cases. Prof Carl Heneghan, one of the study’s authors, said instead of giving a “yes/no” result based on whether any virus is detected, tests should have a cut-off point so that very small amounts of virus do not trigger a positive result. He believes the detection of traces of old virus could partly explain why the number of cases is rising while hospital admissions remain stable.

[..] The PCR swab test – the standard diagnostic method – uses chemicals to amplify the virus’s genetic material so that it can be studied. Your test sample has to go through a number of “cycles” in the lab before enough virus is recovered. Just how many can indicate how much of the virus is there – whether it’s tiny fragments or lots of whole virus. This in turn appears to be linked to how likely the virus is to be infectious – tests that have to go through more cycles are less likely to reproduce when cultured in the lab. But when you take a coronavirus test, you get a “yes” or “no” answer. There is no indication of how much virus was in the sample, or how likely it is to be an active infection.

A person shedding a large amount of active virus, and a person with leftover fragments from an infection that’s already been cleared, would receive the same – positive – test result. But Prof Heneghan, the academic who spotted a quirk in how deaths were being recorded, which led Public Health England to reform its system, says evidence suggests coronavirus “infectivity appears to decline after about a week”. He added that while it would not be possible to check every test to see whether there was active virus, the likelihood of false positive results could be reduced if scientists could work out where the cut-off point should be. This could prevent people being given a positive result based on an old infection.

And Prof Heneghan said that would stop people quarantining or being contact-traced unnecessarily, and give a better understanding of the current scale of the pandemic. Public Health England agreed viral cultures were a useful way of assessing the results of coronavirus tests and said it had recently undertaken analysis along these lines. It said it was working with labs to reduce the risk of false positives, including looking at where the “cycle threshold”, or cut-off point, should be set. But it said there were many different test kits in use, with different thresholds and ways of being read, which made providing a range of cut-off points difficult.

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Hear hear. It’s important to avoid unneeded pressure. Already, renewed lockdowns lead to a lot of protest. As predicted: you need to get the first one right, or trouble’s on the way.

Italian Mayor Wants Penalties For Wearing A Face Mask When Unnecessary (RT)

These days, going out without wearing a face mask is considered poor form – and, in some places, an offense. But the mayor of an Italian town says fines should be slapped on those wearing a mask in an “inappropriate” situation. In the same way global health authorities insist masks contain the spread of coronavirus, Vittorio Sgarbi, the mayor of Sutri, is confident his unorthodox initiative will help stem the spread of “pandemic-related hysteria,” as he put it, according to the TASS news agency. The lingering Covid-19 pandemic has so far infected close to 275,000 people in Italy and killed more than 35,500 – almost seven times the entire population of Sutri. Yet, for Sgarbi, mandatory mask-wearing should have its limits, particularly when public safety is at stake.


Sgarbi, who is also a renowned art historian, cultural commentator, and television personality, told TASS he had issued a decree – yet to be approved by the Italian government – calling for imposition of a fine for wearing a mask in a situation when it’s not needed. “My decree has been issued under the current terrorism prevention laws,” he told the Russian media outlet. The legislation in question says people shouldn’t have their faces covered in a public place. Breaching this law can result in a one or two-year prison sentence or a fine of up to €2,000 (around $2,365). Sgarbi made it clear that anyone breaking his ban wouldn’t incur such a harsh penalty, but that people should wear a mask only when the occasion requires. “Wearing a mask at dinner is absurd,” he clarified. The mayor is no stranger to going against the mainstream. Ahead of the pandemic, he reportedly dismissed coronavirus as “a flu” and ridiculed those raising concerns about the looming crisis. He later made a formal apology when the death toll surged.

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The story stinks.

New Media Propaganda Tool: Use “Confirmed” to Mean its Opposite (Greenwald)

It seems the same misleading tactic is now driving the supremely dumb but all-consuming news cycle centered on whether President Trump, as first reported by the Atlantic’s editor-in-chief Jeffrey Goldberg, made disparaging comments about The Troops. Goldberg claims that “four people with firsthand knowledge of the discussion that day” — whom the magazine refuses to name because they fear “angry tweets” — told him that Trump made these comments. Trump, as well as former aides who were present that day (including Sarah Huckabee Sanders and John Bolton), deny that the report is accurate. So we have anonymous sources making claims on one side, and Trump and former aides (including Bolton, now a harsh Trump critic) insisting that the story is inaccurate.

Beyond deciding whether or not to believe Goldberg’s story based on what best advances one’s political interests, how can one resolve the factual dispute? If other media outlets could confirm the original claims from Goldberg, that would obviously be a significant advancement of the story. Other media outlets — including Associated Press and Fox News — now claim that they did exactly that: “confirmed” the Atlantic story. But if one looks at what they actually did, at what this “confirmation” consists of, it is the opposite of what that word would mean, or should mean, in any minimally responsible sense. AP, for instance, merely claims that “a senior Defense Department official with firsthand knowledge of events and a senior U.S. Marine Corps officer who was told about Trump’s comments confirmed some of the remarks to The Associated Press,” while Fox merely said “a former senior Trump administration official who was in France traveling with the president in November 2018 did confirm other details surrounding that trip.”

In other words, all that likely happened is that the same sources who claimed to Jeffrey Goldberg, with no evidence, that Trump said this went to other outlets and repeated the same claims — the same tactic that enabled MSNBC and CBS to claim they had “confirmed” the fundamentally false CNN story about Trump Jr. receiving advanced access to the WikiLeaks archive. Or perhaps it was different sources aligned with those original sources and sharing their agenda who repeated these claims. Given that none of the sources making these claims have the courage to identify themselves, due to their fear of mean tweets, it is impossible to know. But whatever happened, neither AP nor Fox obtained anything resembling “confirmation.”

They just heard the same assertions that Goldberg heard, likely from the same circles if not the same people, and are now abusing the term “confirmation” to mean “unproven assertions” or “unverifiable claims” (indeed, Fox now says that “two sources who were on the trip in question with Trump refuted the main thesis of The Atlantic’s reporting”). It should go without saying that none of this means that Trump did not utter these remarks or ones similar to them. He has made public statements in the past that are at least in the same universe as the ones reported by the Atlantic, and it is quite believable that he would have said something like this (though the absolute last person who should be trusted with anything, particularly interpreting claims from anonymous sources, is Jeffrey Goldberg, who has risen to one of the most important perches in journalism despite (or, more accurately because of) one of the most disgraceful and damaging records of spreading disinformation in service of the Pentagon and intelligence community’s agenda).

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An across the board set-up. And yes, there will be more.

The Stunning Synergy of The Atlantic’s Anonymous Attack on Trump (Pollak)

The Atlantic published a story Thursday evening that claimed President Donald Trump called the fallen American soldiers in a World War I cemetery “suckers” and “losers” in 2018. The author, Jeffrey Goldberg, cited four anonymous sources. Nearly a dozen current and former Trump administration officials disputed the story. One, notably, was John Bolton, the former national security adviser who says he will not vote for Trump. “I was there,” he said, and “I didn’t hear that.” Other claims in The Atlantic story are refuted by documentary evidence. The article claims, for instance, that Trump refused to visit the cemetery because the rain would ruin his hair. Bolton’s tell-all book said otherwise; so do official documents.

What is more interesting than the details of the story is how it was produced, and how it was rolled out. It has the appearance of a well-coordinated, well-executed campaign of disinformation, utilizing the full toolbox available to the Democratic Party. The article was published Thursday evening. By Friday morning, a left-wing group called Vote Vets had not only produced an ad based on the article, but had aired it on Morning Joe — MSNBC’s early-morning flagship news and opinion show. Meanwhile, the article spread across social media like a brush fire in a derecho. It trended at the top of Twitter; it was shared widely on Facebook, all without any of the “fact checks” that typically accompany disputed news reports on such platforms.

The Biden campaign issued a statement Thursday night — “If the revelations in today’s Atlantic article are true” — and held a press call Friday morning. The call featured, among others, Khizr Khan — the Gold Star father who attacked Trump in 2016. A short time later, Biden himself held a press briefing on the U.S. economy. Though he was expected to discuss the August jobs report — which came in better than expected, at 1.4 million jobs added — he led with an angry tirade about the article. At the end of his presentation, Biden turned to his campaign staff, who chose which reporters would be allowed to ask questions, and in what order. The first question went to Edward-Isaac Dovere, who writes for — surprise! — The Atlantic.

Dovere asked, “When you hear these remarks — ‘suckers,’ ‘losers,’ recoiling from amputees — what does it tell you about President Trump’s soul, and the life he leads?” It was a setup for Biden to attack Trump over The Atlantic allegations again. None of the other questions asked were challenging in any way; all appeared to be setup questions for Biden to attack Trump or to clarify some lingering problem — whether he had been tested for coronavirus (yes), where his running mate was (busy). No one asked Biden whether it was appropriate to attack Trump based on an unconfirmed report. No one even asked Biden about his economic policies.

What we witnessed Thursday night into Friday morning was the deployment of the Death Star — the full Democrat-media complex on display, coordinating journalists, outside political organizations, tech platforms, and unnamed military sources. It may be no coincidence that retired Gen. Stanley McChrystal — who was fired, ironically, because he had disparaged President Barack Obama and Biden — now advises a firm using military technology to help Democrats produce propaganda. It took weapons-grade skill to produce a story that, while unprovable, had the ring of truth to those eager to believe it (it “resonates,” said NBC’s Peter Alexander, whether it was true or not) and to make it the dominant story of the news cycle — on a day when the jobs market rebounded and Trump brokered a historic deal between Israel and Muslim-majority Kosovo.

Goldberg — the unofficial stenographer of the Obama White House — was just a vehicle. The real story is much bigger. The same machine that created and promoted The Atlantic piece will be sure to produce others.

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He doubts Rosenstein frustrated the inquiry. Strzok has a book out, you’ll hear a lot about it soon. It argues there were tons of reasons for the inquiry.

Strzok Joins Weissmann, Doubts NYT story on FBI’s Trump-Russia Inquiry (WE)

Controversial FBI agent Peter Strzok cast further doubt on a New York Times story that claimed the Justice Department secretly blocked special counsel Robert Mueller’s team from conducting a Trump-Russia counterintelligence investigation without informing the FBI. Strzok, who was a key member in the FBI’s investigation into both former Secretary of State Hillary Clinton’s improper private email server and Crossfire Hurricane’s Trump-Russia inquiry, said he “didn’t feel such a limitation” during his time on Mueller’s team when asked about a piece by New York Times reporter Michael Schmidt, whose article was adapted from his new book, Donald Trump v. The United States: Inside the Struggle to Stop a President.

Mueller’s “pitbull,” Andrew Weissmann, also cast doubt on the story a few days ago, and Mueller’s report and testimony also seem to contradict some claims made by the New York Times. “The Justice Department secretly took steps in 2017 to narrow the investigation into Russian election interference and any links to the Trump campaign, according to former law enforcement officials, keeping investigators from completing an examination of President Trump’s decades-long personal and business ties to Russia,” the New York Times reported on Sunday, adding the FBI opened the counterintelligence investigation in May 2017, but “within days,” former Deputy Attorney General Rod Rosenstein “curtailed the investigation without telling the bureau, all but ensuring it would go nowhere.”

Anne Applebaum of the Atlantic asked Strzok during an interview published Friday about the report, which she said, “suggests that the Justice Department secretly took steps in 2017 to narrow the investigation, precisely so that it would not touch on the president’s long-standing relationship with Russia.” Strzok cast doubt on that. “During the time I worked at the Special Counsel’s Office, I didn’t feel such a limitation,” Strzok replied. “When I discussed this with Mueller and others, it was agreed that FBI personnel attached to the Special Counsel’s Office would do the counterintelligence work, which necessarily included the president. But that’s an extraordinarily complex task, one of the most difficult counterintelligence investigations in the FBI’s history.”

Strzok added that “perhaps the FBI is somehow carrying out a comprehensive survey, with the full involvement of the CIA and NSA and the entire U.S. intelligence community” but said he worried that the inquiry “largely died on the vine.” Strzok was removed from Mueller’s team when numerous anti-Trump texts he’d exchanged with FBI lawyer Lisa Page, with whom he was having an affair, were unearthed, and he was fired in 2018. Strzok is currently suing the Justice Department. Weissmann also said the New York Times was wrong about its FBI counterintelligence story, tweeting, “NYT story today is wrong re: alleged secret DOJ order prohibiting a counterintelligence investigation by Mueller, ‘without telling the bureau.’ Dozens of FBI agents/analysts were embedded in Special Counsel’s Office and we were never told to keep anything from them.”

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Lance Roberts lists 5 reasons why, I picked my per peeve: monetary velocity. That alone does the trick.

5 Reasons The Fed’s New Policy Won’t Get Inflation (Roberts)

What the Federal Reserve has failed to grasp is that monetary policy is “deflationary” when “debt” is required to fund it. How do we know this? Monetary velocity tells the story. What is “monetary velocity?” “The velocity of money is important for measuring the rate at which money in circulation is used for purchasing goods and services. Velocity is useful in gauging the health and vitality of the economy. High money velocity is usually associated with a healthy, expanding economy. Low money velocity is usually associated with recessions and contractions.” – Investopedia. With each monetary policy intervention, the velocity of money has slowed along with the breadth and strength of economic activity.

However, it isn’t just the expansion of the Fed’s balance sheet which is undermining the strength of the economy. It is also the ongoing suppression of interest rates to try and stimulate economic activity. In 2000, the Fed “crossed the Rubicon,” whereby lowering interest rates did not stimulate economic activity. Instead, the “debt burden” detracted from it.

To illustrate the last point, we can compare monetary velocity to the deficit. To no surprise, monetary velocity increases when the deficit reverses to a surplus. Such allows revenues to move into productive investments rather than debt service. The problem for the Fed is the misunderstanding of the derivation of organic economic inflation.

[..] in order to generate “real inflation,” economic growth must be strong enough to support employment that exceeds the rate of population growth. That employment must ALSO be productive (manufacturing based) employment which leads to higher wages. (Service jobs are deflationary as they go to the lower cost of labor.) Higher wages lead to increased consumption which allows producers to increase prices (inflation) over time. This has not been the case for nearly 40-years as technology continues to reduce the demand for labor by increasing productivity. This is the “dark side” of technology that no one wants to talk about. However, this cannot be achieved in an economy saddled by $75 Trillion in debt which diverts income from consumption to debt service. This is why “monetary velocity” began to decline as total debt passed the point of being “productive” to become “destructive.”

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Virus, income and a few shut dorms.

Majority Of US Young Adults Live With Parents For The 1st Time In 80 Years (Pew)

In July, 52% of young adults resided with one or both of their parents, up from 47% in February, according to a new Pew Research Center analysis of monthly Census Bureau data. The number living with parents grew to 26.6 million, an increase of 2.6 million from February. The number and share of young adults living with their parents grew across the board for all major racial and ethnic groups, men and women, and metropolitan and rural residents, as well as in all four main census regions. Growth was sharpest for the youngest adults (ages 18 to 24) and for White young adults. The share of young adults living with their parents is higher than in any previous measurement (based on current surveys and decennial censuses).

Before 2020, the highest measured value was in the 1940 census at the end of the Great Depression, when 48% of young adults lived with their parents. The peak may have been higher during the worst of the Great Depression in the 1930s, but there is no data for that period. The share of young adults living with parents declined in the 1950 and 1960 censuses before rising again. The monthly share in the Current Population Survey has been above 50% since April of this year, reaching and maintaining this level for the first time since CPS data on young adults’ living arrangements became available in 1976.


Young adults have been particularly hard hit by this year’s pandemic and economic downturn, and have been more likely to move than other age groups, according to a Pew Research Center survey. About one-in-ten young adults (9%) say they relocated temporarily or permanently due to the coronavirus outbreak, and about the same share (10%) had somebody move into their household. Among all adults who moved due to the pandemic, 23% said the most important reason was because their college campus had closed, and 18% said it was due to job loss or other financial reasons.

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Gettysburg Address. All of 272 words.

 

 

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Sep 052020
 
 September 5, 2020  Posted by at 10:04 am Finance Tagged with: , , , , , , , , , ,  11 Responses »


John Guttman 1st drive-in theater in California, Los Angeles 1935

 

Russia’s COVID19 Vaccine Showed Antibody Response In Initial Trials (R.)
Post-COVID Syndrome Severely Damages Children’s Hearts (MedEx)
Back to School…D’ya Think? (Kunstler)
Joe Biden Goes Full Ron Burgundy (ZH)
Stocks Are Up. Wages Are Down. What Does it Mean? (EFTD)
Fed Chair Powell: Wearing Masks Can Lead To ‘Enormous’ Economic Gains (Y!)
Nearly Two-Thirds Of New York Restaurants Could Close By Year’s End (JTN)
DOJ, Flynn Lawyers Urge Judge To Move ‘With Dispatch’ To Dismiss Charges (JTN)
In Joint Motion With DOJ, Flynn Requests Court Expedite Ruling (SAC)
Why Capitalism Creates Pointless Jobs (David Graeber)

 

 

On the COVID front, the numbers get uglier, but the Russian vaccine works, so how many have we ordered, did you say? Can we get the billions in development funds back from Big Pharma?

On the election front, it’s getting harder to find news, because the polarization is getting so extreme. The Atlantic piece about Trump badmouthing soldiers is on the level of eating babies stories, but people eat it up. What else do they have in store? And why isn’t anyone calling for calm?

 

 

 

 

 

 

 

Ben Hunt

 

 

It seems to work. What are we waiting for?

Russia’s COVID19 Vaccine Showed Antibody Response In Initial Trials (R.)

Russia’s “Sputnik-V” COVID-19 vaccine produced an antibody response in all participants in early-stage trials, according to results published on Friday by The Lancet medical journal that were hailed by Moscow as an answer to its critics. The results of the two trials, conducted in June-July this year and involving 76 participants, showed 100% of participants developing antibodies to the new coronavirus and no serious side effects, The Lancet said. Russia licensed the two-shot jab for domestic use in August, the first country to do so and before any data had been published or a large-scale trial begun.

“The two 42-day trials – including 38 healthy adults each – did not find any serious adverse effects among participants, and confirmed that the vaccine candidates elicit an antibody response,” The Lancet said. “Large, long-term trials including a placebo comparison, and further monitoring are needed to establish the long-term safety and effectiveness of the vaccine for preventing COVID-19 infection,” it said. The vaccine is named Sputnik-V in homage to the world’s first satellite, launched by the Soviet Union. Some Western experts have warned against its use until all internationally approved testing and regulatory steps have been taken.

But with the results now published for the first time in an international peer-reviewed journal, and with a 40,000-strong later-stage trial launched last week, a senior Russian official said Moscow had faced down its critics abroad. “With this (publication) we answer all of the questions of the West that were diligently asked over the past three weeks, frankly with the clear goal of tarnishing the Russian vaccine,” said Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, which has backed the vaccine. “All of the boxes are checked,” he told Reuters. “Now… we will start asking questions of some of the Western vaccines.”

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More freak stuff.

Post-COVID Syndrome Severely Damages Children’s Hearts (MedEx)

Multisystem inflammatory syndrome in children (MIS-C), believed to be linked to COVID-19, damages the heart to such an extent that some children will need lifelong monitoring and interventions, said the senior author of a medical literature review published Sept. 4 in EClinicalMedicine, a journal of The Lancet. Case studies also show MIS-C can strike seemingly healthy children without warning three or four weeks after asymptomatic infections, said Alvaro Moreira, MD, MSc, of The University of Texas Health Science Center at San Antonio. Dr. Moreira, a neonatologist, is an assistant professor of pediatrics in the university’s Joe R. and Teresa Lozano Long School of Medicine.


“According to the literature, children did not need to exhibit the classic upper respiratory symptoms of COVID-19 to develop MIS-C, which is frightening,” Dr. Moreira said. “Children might have no symptoms, no one knew they had the disease, and a few weeks later, they may develop this exaggerated inflammation in the body.” The team reviewed 662 MIS-C cases reported worldwide between Jan. 1 and July 25.

Among the findings:
• 71% of the children were admitted to the intensive care unit (ICU).
• 60% presented with shock.
• Average length of stay in the hospital was 7.9 days.
• 100% had fever, 73.7% had abdominal pain or diarrhea, and 68.3% suffered vomiting.
• 90% had an echocardiogram (EKG) test and 54% of the results were abnormal.
• 2.2% of the children required mechanical ventilation.
• 4.4% required extracorporeal membrane oxygenation (ECMO).
• 11 children died.


“This is a new childhood disease that is believed to be associated with SARS-CoV-2,” Dr. Moreira said. “It can be lethal because it affects multiple organ systems. Whether it be the heart and the lungs, the gastrointestinal system or the neurologic system, it has so many different faces that initially it was challenging for clinicians to understand.” The amount of inflammation in MIS-C surpasses two similar pediatric conditions, Kawasaki disease and toxic shock syndrome. “The saving grace is that treating these patients with therapies commonly used for Kawasaki—immunoglobulin and glucocorticosteroids—has been effective,” Dr. Moreira said.

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“Covid has initiated the death of public ed in America..”

Back to School…D’ya Think? (Kunstler)

“…Covid has initiated the death of public ed in America…. The state cannot decide whether we should start full remote or whether we should try some weird hybrid schedule. Nobody can make a decision. The union is pissed. They know most of the classrooms are poorly ventilated and too small and they see nothing but a ‘cruise ship’ scenario unfolding. Remote is terrible, but it is better than nothing….” Before we go further, remember the first principle of the long emergency: anything organized at the giant scale is liable to fail. During the post-war growth spurt, we consolidated all the nation’s schools into giant districts serviced by the yellow bus fleets bringing thousands of kids together in buildings designed to look like insecticide factories.

And when that project was complete, what did we get? Two decades of mass shootings in schools. I don’t think we got the correct message from this — which is that this manner of schooling produces so much ennui and anomie that some kids turn homicidal by the time they hit their teens. The fact that this condition remains unrecognized, and certainly absent from public discussion, says a lot about our disastrous collective psychology of previous investment: having set up this miserable system at titanic expense, we can’t even think about changing it. Now, as is usual in human history, the process will happen emergently, on its own, whether we like it or not, because circumstances demand it.

Another matter absent from news media is what happens when falling tax revenues start to bite the giant consolidated school districts. My physics teacher correspondent in New England writes: “School finances are in full reverse mode. Whispered in the hallways before every school committee and in every town council chamber is the awesome reality that sales tax and property tax collections are down 25 – 30 percent. The fear is palpable…. It seems to me that Public Ed as we currently know it will be history in about four years. It is a big edifice. It will take a few years to fully implode, but not a decade. There’s no money left to keep it going as it is.”

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This was just too funny.

Joe Biden Goes Full Ron Burgundy (ZH)

Joe Biden engaged in a giant softball game with the press today – perhaps best described by Newsbusters’ Curtis Houck as not “even putting the ball on the tee. This is hitting the ball over the stands and letting Biden run the bases.” But before we get the choreographed Q&A, you should know that Biden went full Ron Burgundy today – reading “end of quote” off the teleprompter. The Friday flub comes just one day after Biden read ‘topline message’ off another teleprompter. In short, Biden is now having issues with ‘behind the curtain’ media cues.

Hillary

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“Since 2017, Bezos’ net worth has grown by about $4 million per hour..”

Stocks Are Up. Wages Are Down. What Does it Mean? (EFTD)


If you listen carefully, you can hear Jeff Bezos getting richer. There’s the sound again. Another billion in Bezos’ coffers. Let’s put some numbers to this sound of money. Since 2017, Bezos’ net worth has grown by about $4 million per hour — roughly 500,000 times the US minimum wage.1 This accumulation of wealth would be absurd during normal times. Today, as many workers lose their jobs to a brutal pandemic, it’s obscene. While Bezos is the pinnacle of capitalist excess, his wealth is part of a larger story. Over the last 40 years, stock prices have surged while wages have stagnated. What does this trend mean? In this post, I take a deep dive into the stock market. I’ll first tell you what the stock market is not. It’s not an indicator of ‘productive capacity’. Nor is it ‘fictitious capital’. So what is it?

The stock market, argue Jonathan Nitzan and Shimshon Bichler, is how capitalists quantify their power. To understand what Nitzan and Bichler are talking about, we’ll unmask the ritual that defines our social order — the ritual of capitalization. Read on to take the red pill and lift the veil of capitalist ideology. When it comes to the stock market, many people believe they have original insight. Often, however, they’re parroting old ideas. Noting this tendency, economist John Maynard Keynes wrote: “[T]he ideas of economists and political philosophers … are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist.” (Keynes in The General Theory)

When it comes to interpreting the stock market, there are two big ideas. Both come from ‘defunct economists’. The first big idea is that rising stocks are good for everybody. I’ll call this the ‘good-for-GM’ worldview (for reasons explained below). This big idea owes not to any single economist, but to an entire defunct school: neoclassical economics. The second big idea is that the stock market is disconnected from the rest of the economy. I’ll call this the ‘fictitious-capital’ worldview. It’s an idea that dates back to Karl Marx (who had a defunct view of capital). Let’s unpack these ideas.

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He doubles as a doctor?

Fed Chair Powell: Wearing Masks Can Lead To ‘Enormous’ Economic Gains (Y!)

Federal Reserve Chairman Jay Powell said Friday that Americans should wear masks and follow social distancing guidelines to ensure an economic recovery. “There’s actually enormous economic gains to be had nationwide from people wearing masks and keeping their distance,” Powell told NPR. Powell added that short of a vaccine, such measures enable people to “go back to work and not get sick.” Powell also spoke about the August jobs report, describing the addition of 1.371 million payrolls in August as “a good one.” The Bureau of Labor Statistics reported the new numbers on Friday morning, which also showed the unemployment rate falling to 8.4% — below the street’s expectations.

Powell pointed out that the August gains were not as large as those in May and June. “I guess I would just say, the recovery is continuing,” Powell said Friday in a clip aired on NPR’s “All Things Considered.” “We do think it will get harder from here because of those areas of the economy that are so directly affected by the pandemic still.” Powell’s remarks on Friday mark his third media interview since the COVID-19 crisis began. On March 26, Powell appeared on NBC’s “Today Show” and in mid-May, CBS’s “60 Minutes” interviewed Powell. The Fed Chairman’s remarks to NPR will be the last from Fed officials as policymakers head into a media blackout ahead of the Federal Open Market Committee’s meeting on September 15 and 16.

“We think that the economy’s going to need low interest rates, which support economic activity, for an extended period of time,” he told NPR. “It will be measured in years. The Fed chief also emphasized that more fiscal support is needed from lawmakers at the White House and Capitol Hill, for example on eviction moratoriums. “We shouldn’t let those people lose everything they have and have to move out or be evicted and move in with family. That’s also not going to be good for containing the COVID spread,” he said.

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Eat at home.

Nearly Two-Thirds Of New York Restaurants Could Close By Year’s End (JTN)

New York restaurants are taking the hit from Gov. Andrew Cuomo’s extended coronavirus shutdowns, with almost two-thirds of owners saying they could be out of business by year’s end, according to a survey released Thursday. The survey by the New York State Restaurant Association is based on responses from over 1,000 restaurant owners in the state and provides a window into the future of the previously booming industry, as the pandemic nears six months. Roughly 63% of respondents said they could likely close by the end of the year without some form of financial relief and 36% said they expect to still be in business in January. “It is painfully clear that without financial assistance, the restaurant industry in New York State could collapse,” said Melissa Fleischut, the NYSRA’s president and CEO.


“These recent survey results illustrate just how dire the financial situation has become for most restaurants, and it shows how critical it is that elected officials understand the urgency of the situation.” Restaurant owners need financial support but ultimately want increased indoor dining capacity and in NYC the ability to open for indoor dining. New York city officials said earlier this week that roughly 1,300 of the city’s 25,000 restaurants and bars have shut down amid the pandemic. “We are now asking the governor, the state Legislature and those at the federal level to simply help us survive. Without further assistance, the restaurant industry as we know it could be gone in a New York minute,” Fleischut also said.

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Why am I thinking the judge will let it go to the Supreme Court? What does he have to lose?

DOJ, Flynn Lawyers Urge Judge To Move ‘With Dispatch’ To Dismiss Charges (JTN)

The Justice Department and Michael Flynn’s defense team jointly asked a federal judge Friday to move “with dispatch” to complete a ruling on whether to dismiss the former Trump adviser’s guilty plea and related criminal charge from the Russia probe. The two sides, which agree the case should now be dismissed based on exculpatory evidence of innocence made public earlier this year, laid out a schedule in a joint status report to complete briefs, reports and hearings in September. “The United States and General Flynn agree that this Court should resolve the pending motion to dismiss with dispatch,” their report argued. “Any delay would harm both the government, which must expend resources on a case that it has determined should be dismissed, and General Flynn, who faces impairments on his liberty and the cloud of a pending prosecution that the Executive Branch seeks to end.”


The filing came just days after the full DC Circuit Court of Appeals overturned a three-judge panel’s decision and refused to grant a writ of mandamus that would have dismissed the charge against Flynn. The appeals court sent the case back to U.S. District Judge Emmet Sullivan and asked him to move quickly to resolve the matter. Flynn withdrew his guilty plea nearly a year ago and the Trump DOJ concluded earlier this year that Special Counsel Robert Mueller’s prosecution of the former Trump national security adviser for lying to the FBI was unwarranted.

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“..there is no reason for any delay.”

In Joint Motion With DOJ, Flynn Requests Court Expedite Ruling (SAC)

Former National Security Advisor Michael T. Flynn and the Department of Justice filed a motion late Friday to expedite his case after the U.S. Court of Appeals for the D.C. Circuit denied his petition for a writ of mandamus against Judge Emmet Sullivan, who is overseeing the case. Flynn’s case has been a roller coaster ride since the former Special Counsel Robert Mueller targeted the former director of the Defense Intelligence Agency, who went on to be a loyal and trusted member of Trump’s team in 2016. Moreover, Flynn has been up against a behemoth of opposition from former Obama officials and Sullivan, who has acted more like a prosecutor than a judge. The circumstances surrounding Flynn’s case have led Trump, along with many others, to call for his exoneration.

Evidence discovered over the past year by the DOJ’s Inspector General, Flynn’s attorney, Sidney Powell, and an appointed counsel put in place by Attorney General William Barr reveal extensive malfeasance in the FBI’s handling of its investigation into the Trump campaign and Flynn. The litany of evidence collected during the investigations led the Justice Department to request a dismissal Flynn’s case. Unfortunately, the request to dismiss the case was politicized by Judge Sullivan, who is overseeing Flynn’s case. He has been fighting the request and accusing Barr of intervening on behalf of Trump. Because of this, Sullivan appointed an amicus curiae, a friend of the court, to argue on his behalf as to why the case should not be dismissed until he reviews it further.

Powell fought back against Sullivan’s unusual actions but could not persuade the appellate court last week to order Sullivan to dismiss the case against Flynn based on the Justice Department’s motion to have his case dismissed. In effect, Flynn and his family have faced an extraordinary ordeal over the past three years that has left the three-star general and war hero depleted of funds and emotionally strained. “We look forward to getting a ruling on the government’s motion to dismiss as soon as possible,” Powell told SaraACarter.com. “Between the issues fully briefed for the Court of Appeals in which Judge Sullivan fully participated as if he were a party and the briefing already filed in his court, there is no reason for any delay.” In the motion Powell and the Justice Department argue that it “is not necessary, however, for this Court to wait until September 21 to proceed with this case. The Court instead may, and should, set a schedule to resolve this case as soon as possible.”

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4 years ago.

Why Capitalism Creates Pointless Jobs (David Graeber)

In the year 1930, John Maynard Keynes predicted that technology would have advanced sufficiently by century’s end that countries like Great Britain or the United States would achieve a 15-hour work week. There’s every reason to believe he was right. In technological terms, we are quite capable of this. And yet it didn’t happen. Instead, technology has been marshaled, if anything, to figure out ways to make us all work more. In order to achieve this, jobs have had to be created that are, effectively, pointless. Huge swathes of people, in Europe and North America in particular, spend their entire working lives performing tasks they secretly believe do not really need to be performed. The moral and spiritual damage that comes from this situation is profound. It is a scar across our collective soul. Yet virtually no one talks about it.

Why did Keynes’ promised utopia – still being eagerly awaited in the ‘60s – never materialise? The standard line today is that he didn’t figure in the massive increase in consumerism. Given the choice between less hours and more toys and pleasures, we’ve collectively chosen the latter. This presents a nice morality tale, but even a moment’s reflection shows it can’t really be true. Yes, we have witnessed the creation of an endless variety of new jobs and industries since the ‘20s, but very few have anything to do with the production and distribution of sushi, iPhones, or fancy sneakers.

So what are these new jobs, precisely? A recent report comparing employment in the US between 1910 and 2000 gives us a clear picture (and I note, one pretty much exactly echoed in the UK). Over the course of the last century, the number of workers employed as domestic servants, in industry, and in the farm sector has collapsed dramatically. At the same time, “professional, managerial, clerical, sales, and service workers” tripled, growing “from one-quarter to three-quarters of total employment.” In other words, productive jobs have, just as predicted, been largely automated away (even if you count industrial workers globally, including the toiling masses in India and China, such workers are still not nearly so large a percentage of the world population as they used to be).

But rather than allowing a massive reduction of working hours to free the world’s population to pursue their own projects, pleasures, visions, and ideas, we have seen the ballooning not even so much of the “service” sector as of the administrative sector, up to and including the creation of whole new industries like financial services or telemarketing, or the unprecedented expansion of sectors like corporate law, academic and health administration, human resources, and public relations. And these numbers do not even reflect on all those people whose job is to provide administrative, technical, or security support for these industries, or for that matter the whole host of ancillary industries (dog-washers, all-night pizza deliverymen) that only exist because everyone else is spending so much of their time working in all the other ones.

These are what I propose to call “bullshit jobs.”

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Sep 042020
 
 September 4, 2020  Posted by at 9:35 am Finance Tagged with: , , , , , , , , , ,  13 Responses »


Robert Capa Catholic church between bricks from the destroyed Jewish Ghetto Warsaw, Poland 1948

 

Bipartisan Washington Insiders Plan for Chaos if Trump Wins Election (Webb)
Trump: Americans Who Died in War Are ‘Losers’ and ‘Suckers’ (Atl.)
The Trump Era Sucks and Needs to Be Over (Matt Taibbi)
If Dems Win In 2020, It’s Virtually Impossible For GOP Ever To Win Again (PJW)
Cuomo Admin Accused Of Stonewalling Over COVID19 Nursing Home Deaths (NYP)
DOJ Conducting “Very Big” Voter Fraud Investigations – Barr (ET)
DOJ To File Antitrust Charges Against Google Within Weeks (ZH)
In the Worst of Times, the Billionaire Elite Plunder Working Class America (CP)
US Court: NSA Mass Surveillance Program Exposed By Snowden Was Illegal (DW)
Capitalism Isn’t Working. Here’s An Alternative (Varoufakis)
Eulogy to David Graeber (Steve Keen)

 

 

60 days to go till November 3 and hunting season is open. Smear’s the word. It’ll be so ugly many people will just turn away in disgust. Many others will keep staring at it the way people stare at traffic accidents.

 

 

Bradykinin give us even more incentive to roll out rapid tests, HCQ, zinc, vitamin D in huge quantities. What are we waiting for?

 

 

 

 

 

 

Taleb and Bar-Yam

 

 

Whitney Webb is one of multiple voices discussing the Transition Integrity Project (TIP). Bipartisan in this case means: anti-Trump. Basically, all these war scenarios claim that if Biden doesn’t win big, there’ll be war in the streets. They sort of openly advocate for that.

Bipartisan Washington Insiders Plan for Chaos if Trump Wins Election (Webb)

A group of Democratic Party insiders and former Obama and Clinton era officials as well as a cadre of “Never Trump” neoconservative Republicans have spent the past few months conducting simulations and “war games” regarding different 2020 election “doomsday” scenarios. Per several media reports on the group, called the Transition Integrity Project (TIP), they justify these exercises as specifically preparing for a scenario where President Trump loses the 2020 election and refuses to leave office, potentially resulting in a constitutional crisis. However, according to TIP’s own documents, even their simulations involving a “clear win” for Trump in the upcoming election resulted in a constitutional crisis, as they predicted that the Biden campaign would make bold moves aimed at securing the presidency, regardless of the election result.

This is particularly troubling given that TIP has considerable ties to the Obama administration, where Biden served as Vice President, as well as several groups that are adamantly pro-Biden in addition to the Biden campaign itself. Indeed, the fact that a group of openly pro-Biden Washington insiders and former government officials have gamed out scenarios for possible election outcomes and their aftermath, all of which either ended with Biden becoming president or a constitutional crisis, suggest that powerful forces influencing the Biden campaign are pushing the former Vice President to refuse to concede the election even if he loses. This, of course, gravely undercuts the TIP’s claim to be ensuring “integrity” in the presidential transition process and instead suggests that the group is openly planning on how to ensure that Trump leaves office regardless of the result or to manufacture the very constitutional crisis they claim to be preventing through their simulations.

Such concerns are only magnified by the recent claims made by the 2016 Democratic presidential candidate and former Secretary of State under Obama, Hillary Clinton, that Biden “should not concede under any circumstances.” “I think this is going to drag out, and eventually I do believe he will win if we don’t give an inch, and if we are as focused and relentless as the other side is,” Clinton continued during an interview with Showtime a little over a week ago. The results of the TIP’s simulations notably echo Clinton’s claims that Biden will “eventually” win if the process to determine the election outcome is “dragged out.”

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The for now (but don’t hold your breath on that one) ultimate smear piece, based exclusively on anonymous sources. All it says has been denied by not anonymous sources, who were actually present, like Trump himself, and Sarah Sanders, but that’s not the point. The point is smear; that’s how this will be fought.

Trump: Americans Who Died in War Are ‘Losers’ and ‘Suckers’ (Atl.)

Trump remained fixated on McCain, one of the few prominent Republicans to continue criticizing him after he won the nomination. When McCain died, in August 2018, Trump told his senior staff, according to three sources with direct knowledge of this event, “We’re not going to support that loser’s funeral,” and he became furious, according to witnesses, when he saw flags lowered to half-staff. “What the fuck are we doing that for? Guy was a fucking loser,” the president told aides. Trump was not invited to McCain’s funeral.

(These sources, and others quoted in this article, spoke on condition of anonymity. The White House did not return earlier calls for comment, but Alyssa Farah, a White House spokesperson, emailed me this statement shortly after this story was posted: “This report is false. President Trump holds the military in the highest regard. He’s demonstrated his commitment to them at every turn: delivering on his promise to give our troops a much needed pay raise, increasing military spending, signing critical veterans reforms, and supporting military spouses. This has no basis in fact.”)

[..] On Memorial Day 2017, Trump visited Arlington National Cemetery, a short drive from the White House. He was accompanied on this visit by John Kelly, who was then the secretary of homeland security, and who would, a short time later, be named the White House chief of staff. The two men were set to visit Section 60, the 14-acre area of the cemetery that is the burial ground for those killed in America’s most recent wars. Kelly’s son Robert is buried in Section 60. A first lieutenant in the Marine Corps, Robert Kelly was killed in 2010 in Afghanistan. He was 29. Trump was meant, on this visit, to join John Kelly in paying respects at his son’s grave, and to comfort the families of other fallen service members.

But according to sources with knowledge of this visit, Trump, while standing by Robert Kelly’s grave, turned directly to his father and said, “I don’t get it. What was in it for them?” Kelly (who declined to comment for this story) initially believed, people close to him said, that Trump was making a ham-handed reference to the selflessness of America’s all-volunteer force. But later he came to realize that Trump simply does not understand non-transactional life choices. “He can’t fathom the idea of doing something for someone other than himself,” one of Kelly’s friends, a retired four-star general, told me. “He just thinks that anyone who does anything when there’s no direct personal gain to be had is a sucker. There’s no money in serving the nation.”

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Would things be better if Trump were gone? The only alternative is having Hillary and Pelosi and Schiff in charge. Is that an improvement?

The Trump Era Sucks and Needs to Be Over (Matt Taibbi)

The question, “What is Trump thinking?” is the wrong one. He’s not thinking, he’s selling. What’s he selling? Whatever pops into his head. The beauty of politics from his point of view, compared to every other damn thing he’s sold in his life — steaks, ties, pillows, college degrees, chandeliers, hotels, condominiums, wine, eyeglasses, deodorant, perfume (SUCCESS by Trump!), mattresses, etc. — is that there’s no product. The pitch is the product, and you can give different pitches to different people and they all buy. In 2016 Trump reeled in the nativist loons and rage cases with his opening rants about walls and mass deportations, then slowly clawed his numbers up with the rest of the party with his “softening” routine.

Each demographic probably came away convinced he was lying to the other, while the truth was probably more that he was lying to all of them. Obviously there are real-world consequences to courting the lowest common denominator instincts in people, but to Trump speeches aren’t moral acts in themselves, they’re just “words that he is saying,” as long-ago spokesperson Katrina Pierson put it. In this sense the Republican Party’s 2020 platform is genius: there isn’t one, just a commitment to “enthusiastically support the President’s America-first agenda,” meaning whatever Trump says at any given moment. If one can pull back enough from the fact that this impacts our actual lives, it’s hard not to admire the breathtaking amorality of this, as one might admire a simple malevolent organism like a virus or liver fluke.

Trump blew through the Republican primaries in 2015-2016. His opponents, a slate of mannequins hired by energy companies and weapons contractors to be pretend-patriots and protectors of “family values,” had no answer for his insults and offer-everything-to-everyone tactics. Like most politicians, they’d been protected their whole lives by donors, party hacks, and pundits who’d turned campaigns into a club system designed to insulate paid lackeys from challenges to their phony gravitas. Trump had no institutional loyalty to the club, shat all over it in addition to its silly frontmen, and walked to the nomination.

[..] The paradox ensnaring America since November, 2016 is that Trump never intended to govern, while his opponents never intended to let him try. In an alternate universe where a post-election Donald had enough self-awareness to admit he was out of his depth, and the D.C. establishment agreed to recognize his administration as legitimate for appearances’ sake, Trump might have escaped four years with the profile of a conventionally crappy president, or perhaps a few notches below that — way below average, maybe, but survivable. Instead it was decided even before he was elected that admitting the president was the president was “normalizing” him. Normally no news is good news, and the anchorman is encouraged to smile on a day without war, earthquakes, terror attacks, or stock market crashes.

Under Trump it became taboo to have a slow news day. A lack of an emergency was a failure of reporting, since Trump’s very presence in office was crisis.

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The ruling class.

If Dems Win In 2020, It’s Virtually Impossible For GOP Ever To Win Again (PJW)

Professor Angelo M. Codevilla warns that if the Democrats win the 2020 elections, it would be “virtually impossible for conservatives ever to win again.” Codevilla, who is professor emeritus of International Relations at Boston University, made the prediction in a review published by the Claremont Review of Books for Michael Anton’s new book The Stakes: America at the Point of No Return. The book makes the argument that although some Americans may be disappointed in Trump’s performance, voting for him again is absolutely crucial for the republic’s survival because “this country’s ruling class would use control of the presidency to hurt us in our private and public lives for having dared to reject their mastery.” Importing non-citizens who are then given the vote, as well as institutionalizing elections by mail, which would give those who count the votes the power, would ‘guarantee disaster’ for the country, according to Codevilla.


He then issues a stark warning; It’s game over permanently for Republicans if Trump loses in 2020. “Should the Democrats win, the ruling Left – which includes just about everyone who controls American government and society’s commanding heights – is ready, willing, and eager to implement plans that would make it virtually impossible for conservatives ever to win national elections again,” writes Codevilla. The professor also cautions that Democrats’ stated refusal to concede to Donald Trump, which was recently amplified by Hillary Clinton, could manifest itself in “one or more blue state governors to refuse to certify that state’s electors to the Electoral College, so as to prevent the college from recording a majority of votes for the winner.” This threatens to set off a “systemic crisis” that could lead to a civil war “less like the American Civil War of the 19th century and more like the horror that bled Spain in the 20th.”

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It’ll be ready on November 5th. No, the joke is not lost on us. That’s two whole months for what nursing homes are by law obliged to tally on a daily basis. It shouldn’t even take two hours.

Cuomo Admin Accused Of Stonewalling Over COVID19 Nursing Home Deaths (NYP)

A government watchdog group is accusing Gov. Andrew Cuomo’s administration of sitting on data that would provide the full death tally of nursing home residents from the coronavirus. The Empire Center for Public Policy accuses the state Health Department of stalling on compliance with a Freedom of Information Law request seeking the information. Currently, New York’s tally of nursing home fatalities only counts those residents who died or are presumed to have died from COVID-19 inside those facilities. The figure excludes potentially thousands of nursing home residents who were transported to hospitals for treatment and died a few days later.

“The state Health Department is offering a new explanation for why it won’t provide the full death toll of coronavirus in nursing homes: it can’t find the records,” said Bill Hammond, a health analyst for the Empire Center who submitted the legal request for the data in early August. In a response letter sent to Hammond on Monday, the department said it could not yet fulfill the request “because a diligent search for relevant documents is still being conducted.” “We estimate that this Office will complete its process by November 5, 2020. The Department will notify you in writing when/if the responsive materials are available for release or if the time needed to complete your request extends beyond the above date,” said the department’s record access officer, Rosemary Hewig.

The delayed compliance in releasing information in response to legal requests has been a common practice of government agencies, with officials often saying they are still conducting a “diligent search” for records. “In this case, however, a search of any kind should not be necessary,” Hammond said in a blog post. He said the department’s Health Emergency Response Data System (or HERDS) has required nursing homes to file daily reports throughout the pandemic — including counts of all residents who die from coronavirus, both within the facilities or hospitals or elsewhere. “Those numbers are the basis for the partial count that the department does make public – which stood at 6,639 as of Aug. 29, but omits potentially thousands of residents who died in hospitals,” Hammond said.

Hammond said the “unusual methodology” is used by few if any other states and gives the public a “distorted picture of the pandemic.” “It makes it hard to compare New York to other states, or to gauge the merits of particular policies, such as the Health Department’s much-debated March 25 directive compelling nursing homes to accept coronavirus-positive patients being discharged from hospitals,” he said. The Justice Department is looking at whether the policies of New York and three other states contributed to COVID-19 nursing home deaths.

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And you thought hanging chads were controversial…

DOJ Conducting “Very Big” Voter Fraud Investigations – Barr (ET)

The Department of Justice is conducting several “very big” voter fraud investigations in multiple states, Attorney General William Barr told CNN in an interview aired on Sept. 2. “I know there are a number of investigations right now, some very big ones, in states,” Barr said in response to a question about how many voter fraud indictments the Department of Justice (DOJ) has brought on his watch. Barr said he did not know the exact number. At least 32 people have been criminally convicted of voter fraud in 2019, according to a database maintained by the conservative Heritage Foundation think tank. The attorney general made the remarks as part of a tense exchange with CNN anchor Wolf Blitzer about mail-in voting.

Barr has repeatedly said that mass mail-in voting is an invitation for voter fraud and coercion. Blitzer pressed the attorney general for evidence that this will be the case in 2020. Barr pointed to a recent conviction in Texas over 1,700 fraudulent ballots and noted that widespread evidence isn’t available because the United States has never attempted an election with the kind of massive access to mail-in voting available in 2020. At least 83 percent of American voters, or roughly 100 million people, will be able to vote by mail in the 2020 election, according to a tally by The Washington Post. “We haven’t had the kind of widespread use of mail-in ballots as being proposed,” Barr said.

“We’ve had absentee ballots from people who request them from a specific address. Now what we’re talking about is mailing them to everyone on the voter list, when everyone knows those voter lists are inaccurate.” Barr referenced the findings of a nonpartisan Commission on Federal Election Reform, co-chaired by former President Jimmy Carter and former Secretary of State James Baker, which determined in 2005 that mail-in voting creates the potential for voter fraud and opens the door to coercion if activists or party workers are allowed to handle ballots. Carter recently issued a statement to point out that the commission’s key finding was that states should invest in more research on mail-in voting. The former president encouraged states to invest resources to expand voting by mail.

More than 43 percent of likely American voters would not trust in the integrity of an election if all voters automatically received ballots or ballot request forms by mail, according to an Epoch Times National Poll conducted in late August. “This is playing with fire,” Barr said. “We’re a very closely divided country here and people have to have confidence in the results of the election and the legitimacy of the government. And people trying to change the rules to this methodology—which as a matter of logic is very open to fraud and coercion—is reckless and dangerous,” Barr said.

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Bill Barr Busy.

DOJ To File Antitrust Charges Against Google Within Weeks (ZH)

The Department of Justice will is preparing to slap Google with an antitrust case over the next several weeks, according to the New York Times – which insists, based on five sources, that Attorney General Bill Barr “overruled career lawyers who said they needed more time to build a strong case against one of the world’s wealthiest, most formidable technology companies.” The Times is suggesting, based on leaks, that Barr is rushing the case for political purposes and the charges are premature. “The Google case could also give Mr. Trump and Mr. Barr an election-season achievement on an issue that both Democrats and Republicans see as a major problem: the influence of the biggest tech companies over consumers and the possibility that their business practices have stifled new competitors and hobbled legacy industries like telecom and media.” -NYT

Some 40 lawyers working on a DOJ antitrust inquiry into Google parent Alphabet were reportedly told to wrap up their work by the end of this month, according to three of the five leakers, who we’re guessing are part of the 40-lawyer team – as “most of the 40-odd lawyers who had been working on the investigation opposed the deadline.” Others said they would not sign the complaint, while several left the case over the summer.

“Some argued this summer in a memo that ran hundreds of pages that they could bring a strong case but needed more time, according to people who described the document. Disagreement persisted among the team over how broad the complaint should be and what Google could do to resolve the problems the government uncovered. The lawyers viewed the deadline as arbitrary. While there were disagreements about tactics, career lawyers also expressed concerns that Mr. Barr wanted to announce the case in September to take credit for action against a powerful tech company under the Trump administration. But Mr. Barr felt that the department had moved too slowly and that the deadline was not unreasonable, according to a senior Justice Department official.” -NYT

Barr has shown a “deep interest” in the Google investigation, requesting regular briefings on the DOJ case, and “taking thick binders of information about it on trips and vacations and returning with ideas and notes.” The Times notes that antitrust action against Google has bipartisan support from a coalition of 50 states and territories, though Democrats and Republican state attorneys general conducting their own investigations are split on how to move forward. Republicans have accused Democrats of slow-walking the work in order to bring charges under a potential Biden administration, while Democrats have accused Republicans of wanting Trump to receive credit – a disagreement which could limit the number of states participating in prosecuting the Silicon Valley giant.

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But but, I read Jeff Bezos lost $9 billion yesterday!

In the Worst of Times, the Billionaire Elite Plunder Working Class America (CP)

In the midst of a global pandemic, unprecedented economic collapse, mass unemployment, hunger and desperation, the stock market is booming and the richest of the rich are richer than ever before. Since March, more than 58 million people in the U.S. have filed for unemployment. The Internal Revenue Service now predicts that the U.S. economy will have almost 40 million fewer jobs in 2021 than they predicted before the pandemic, as a result of the prolonged economic depression. As it becomes widely recognized that the economy is not going to “bounce right back” into full activity – even when coronavirus cases do eventually decline – and that the current depression will continue for a long time, companies are doing anything they can to drive their stock prices higher.

Desperate to maintain their profits, many large corporations are planning massive layoffs and acknowledging that currently furloughed workers are not going to have jobs to come back to. The Wall Street Journal reports that a recent study found, “nearly half of U.S. employers that furloughed or laid off staff because of COVID-19 are considering additional workplace cuts in the next 12 months.” The companies say low-paid workers will be the first to be cut. Twice as many workers had their pay cut by July 1 as during the Bush-Obama recession that began in 2009, according to the Washington Post. More than 10 million private sector workers have had their wages cut or been forced to work part-time. Car company Tesla forced all workers to take a 10 percent pay cut from mid-April until July. In the same period, Tesla stock skyrocketed, and CEO Elon Musk’s net worth has now quadrupled from $25 billion to over $100 billion.

Business software company Salesforce announced record sales levels one day and layoffs of 1,000 workers the next. The company’s stock rose 26 percent. Among small businesses, another study found that 50 percent of all small-business employees who were furloughed since March are still without work. Twenty-eight percent are still furloughed; 22 percent have been permanently laid off. Even in the government’s rigged and severely undercounted unemployment statistics, the number of people who have been unemployed 15-26 weeks is nearly double what it was at the height of the 2009 recession — and exponentially higher than at any other time since the Great Depression of the 1930s.

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So the entire NSA brass must all move to Russia now? And Edward can come back home? Or is exposing an illegal program more illegal than said program itself?

US Court: NSA Mass Surveillance Program Exposed By Snowden Was Illegal (DW)

A US federal appeals court on Wednesday ruled that the controversial National Security Agency (NSA) surveillance program exposed by whistleblower Edward Snowden was illegal. The ruling stopped short of calling the program unconstitutional. The US Court of Appeals for the Ninth Circuit said that the program, under which the NSA collected and analyzed bulk data provided by telecommunications companies, was in violation of the Foreign Intelligence Surveillance Act and could have been unconstitutional.= “Seven years ago, as the news declared I was being charged as a criminal for speaking the truth, I never imagined that I would live to see our courts condemn the NSA’s activities as unlawful and in the same ruling credit me for exposing them,” said Snowden, who fled to Russia after exposing the program, on Twitter.


“And yet that day has arrived.” He still faces charges of espionage in the US. After initially denying that the intelligence agency collected information on Americans, officials maintained that the spying helped the country combat domestic extremism. The most popular case cited was that of four California residents — Basaaly Saeed Moalin, Ahmed Nasir Taalil Mohamud, Mohamed Mohamud, and Issa Doreh — who have been convicted of funding the Al-Shabaab extremist group in Somalia. NSA’s domestic spying program helped get this conviction, which will not be impacted by the latest ruling. However, human rights organizations like the American Civil Liberties Union have hailed the ruling as “a victory for our privacy rights.”

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“..the pandemic stripped away the veneer of politics to reveal the boorish reality underneath: that some people have the power to tell the rest what to do.”

Capitalism Isn’t Working. Here’s An Alternative (Varoufakis)

Before 2020, politics seemed almost like a game, but with Covid came the realisation that governments everywhere possessed immense powers. The virus brought the 24-hour curfew, the closure of pubs, the ban on walking through parks, the suspension of sport, the emptying of theatres, the silencing of music venues. All notions of a minimal state mindful of its limits and eager to cede power to individuals went out of the window. Many salivated at this show of raw state power. Even free-marketeers, who had spent their lives shouting down any suggestion of even the most modest boost in public spending, demanded the sort of state control of the economy not seen since Leonid Brezhnev was running the Kremlin. Across the world, the state funded private firms’ wage bills, renationalised utilities and took shares in airlines, car makers, even banks. From the first week of lockdown, the pandemic stripped away the veneer of politics to reveal the boorish reality underneath: that some people have the power to tell the rest what to do.

[..] Suppose we had seized the 2008 moment to stage a peaceful hi-tech revolution that led to a postcapitalist economic democracy. What would it be like? To be desirable, it would feature markets for goods and services since the alternative – a Soviet-type rationing system that vests arbitrary power in the ugliest of bureaucrats – is too dreary for words. But to be crisis-proof, there is one market that market socialism cannot afford to feature: the labour market. Why? Because, once labour time has a rental price, the market mechanism inexorably pushes it down while commodifying every aspect of work (and, in the age of Facebook, our leisure too).

Can an advanced economy function without labour markets? Of course it can. Consider the principle of one-employee-one-share-one-vote underpinning a system that, in Another Now, I call corpo-syndicalism. Amending corporate law so as to turn every employee into an equal (though not equally remunerated) partner is as unimaginably radical today as universal suffrage was in the 19th century. In my blueprint, central banks provide every adult with a free bank account into which a fixed stipend (called universal basic dividend) is credited monthly. As everyone uses their central bank account to make domestic payments, most of the money minted by the central bank is transferred within its ledger. Additionally, the central bank grants all newborns a trust fund, to be used when they grow up.

People receive two types of income: the dividends credited into their central bank account and earnings from working in a corpo-syndicalist company. Neither are taxed, as there are no income or sales taxes. Instead, two types of taxes fund the government: a 5% tax on the raw revenues of the corpo-syndicalist firms; and proceeds from leasing land (which belongs in its entirety to the community) for private, time-limited, use.

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RIP

Eulogy to David Graeber (Steve Keen)

Oh David! @davidgraeber. . They say only the good die young, but why did you have to be one of them? There’s even more bullshit in the world now that you are no longer with us. It was a pleasure to know you, and it is a tragedy to say goodbye.


David was special for many, many reasons. The first I’ll mention is what I expect is the foundation of David’s appeal to Nika: his trusting innocence. There was a boyish openness and lack of ego in David that made you trust him, because you could. He was, at the same time, extremely intelligent and extremely funny. He had a nervy aspect, very befitting of someone raised in New York. But he was fundamentally funny, and looked on the world with a sense of bemusement, and all the while, incisive insight. He was intrinsically an anthropologist, in that he was capable of living amongst people and seeing their customs more clearly than they could themselves, while all the while celebrating those aspects, the good and the bad, because they were his people as well.

There was a selflessness to David too. There wasn’t an ounce of David’s body that was in it for David’s benefit alone. Well, he enjoyed his pleasures, but they could never be had at the expense of another person. That made him someone you could trust with your life. On top of that, he was an excellent if sometimes rambling speaker, whose charisma attracted support which was worth giving. David, I believe, came up with the slogan “We’re the 99%”. David, I believe, developed Occupy Wall Street’s voting system, which was a very powerful form of democracy that still respected the rights of the minority. He was a true leader in large part because he didn’t want to be.

He was also an excellent historian of money and debt. If you haven’t read Debt: the first 5000 Years, buy a copy and do so. It’s such a pity that David won’t be here to chronicle the start of its next 5000 Years. That’s the other thing: the suddenness. I knew David wasn’t feeling well—I’d exchanged a few messages with Nika where David’s health came up. Maybe it was Covid—I still don’t know. I won’t speculate. But it is so bloody awful to lose such a brilliant, lovely, funny, warm human being. It’s the unkindest cut of all that 2020 has managed to deliver.

Now we know why we speak of 20:20 vision, and 20:20 hindsight. We thought it was an ophthalmologist’s crazy numbering system. In fact, it was a warning from a time traveller.

Nassim Taleb – David Graeber

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We try to run the Automatic Earth on donations. Since ad revenue has collapsed, your support is now an integral part of the process.

Thank you for your ongoing support.

 

 

“As humans we are fragile biological entities who will die unless we take care of each other”

– David Graeber

 

 

Support the Automatic Earth in virustime.

 

Sep 032020
 


Jackson Pollock Shooting Star 1947

 

Supercomputer Analysis Provides New COVID19 Theory (M.)
Trump Leads Biden At The Bookies (ZH)
The Stock Market Thinks Joe Biden Is Going To Beat Donald Trump (CNN)
Hidden Trump Voters Could Have Big November Impact (Hill)
Trump Orders Feds To Begin Process Of Defunding “Lawless” Cities (ZH)
Gov. Cuomo: Trump ‘Better Have An Army’ If He Comes To NYC (NYP)
China To Overtake US As World’s Top Economy In 2032 – State Think Tank (SCMP)
Xi Jinping Is Hoping To Let 1,000 IPOs Bloom In Hong Kong & Shanghai (Whalen)
Lin Wood, Attorney For Kyle Rittenhouse, Locked Out Of Twitter Account (Fox)
Steve Bannon Needs A Defense Not A Conspiracy Theory (Turley)

 

 

 

 

 

 

 

 

Cheap antigen tests

 

 

Bill Barr Mail-in Voting

 

 

A bradykinin storm. And Vitamin D as a potentially useful drug. Better get some now, before it’s too popular.

Supercomputer Analysis Provides New COVID19 Theory (M.)

Earlier this summer, the Summit supercomputer at Oak Ridge National Lab in Tennessee set about crunching data on more than 40,000 genes from 17,000 genetic samples in an effort to better understand Covid-19. Summit is the second-fastest computer in the world, but the process — which involved analyzing 2.5 billion genetic combinations — still took more than a week. When Summit was done, researchers analyzed the results. It was, in the words of Dr. Daniel Jacobson, lead researcher and chief scientist for computational systems biology at Oak Ridge, a “eureka moment.” The computer had revealed a new theory about how Covid-19 impacts the body: the bradykinin hypothesis. The hypothesis provides a model that explains many aspects of Covid-19, including some of its most bizarre symptoms.

It also suggests 10-plus potential treatments, many of which are already FDA approved. Jacobson’s group published their results in a paper in the journal eLife in early July. According to the team’s findings, a Covid-19 infection generally begins when the virus enters the body through ACE2 receptors in the nose, (The receptors, which the virus is known to target, are abundant there.) The virus then proceeds through the body, entering cells in other places where ACE2 is also present: the intestines, kidneys, and heart. This likely accounts for at least some of the disease’s cardiac and GI symptoms. But once Covid-19 has established itself in the body, things start to get really interesting. According to Jacobson’s group, the data Summit analyzed shows that Covid-19 isn’t content to simply infect cells that already express lots of ACE2 receptors.

Instead, it actively hijacks the body’s own systems, tricking it into upregulating ACE2 receptors in places where they’re usually expressed at low or medium levels, including the lungs. In this sense, Covid-19 is like a burglar who slips in your unlocked second-floor window and starts to ransack your house. Once inside, though, they don’t just take your stuff — they also throw open all your doors and windows so their accomplices can rush in and help pillage more efficiently. The renin–angiotensin system (RAS) controls many aspects of the circulatory system, including the body’s levels of a chemical called bradykinin, which normally helps to regulate blood pressure. According to the team’s analysis, when the virus tweaks the RAS, it causes the body’s mechanisms for regulating bradykinin to go haywire.

Bradykinin receptors are resensitized, and the body also stops effectively breaking down bradykinin. (ACE normally degrades bradykinin, but when the virus downregulates it, it can’t do this as effectively.) The end result, the researchers say, is to release a bradykinin storm — a massive, runaway buildup of bradykinin in the body. According to the bradykinin hypothesis, it’s this storm that is ultimately responsible for many of Covid-19’s deadly effects. Jacobson’s team says in their paper that “the pathology of Covid-19 is likely the result of Bradykinin Storms rather than cytokine storms,” which had been previously identified in Covid-19 patients, but that “the two may be intricately linked.” Other papers had previously identified bradykinin storms as a possible cause of Covid-19’s pathologies.

[..] Jacobson’s team also suggests vitamin D as a potentially useful Covid-19 drug. The vitamin is involved in the RAS system and could prove helpful by reducing levels of another compound, known as REN. Again, this could stop potentially deadly bradykinin storms from forming. The researchers note that vitamin D has already been shown to help those with Covid-19. The vitamin is readily available over the counter, and around 20% of the population is deficient.

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28% of black voters, vs 8% in 2016. That’s enormous.

Trump Leads Biden At The Bookies (ZH)

The trend we have been noting for the last week has accelerated overnight and ‘the streams have crossed’, with the average bookie now seeing it more likely that President Trump wins the 2020 election that Joe Biden. This huge swing comes as Summit News’ Paul Joseph Watson notes that the results of a new national poll reveal that a stunning 28 per cent of black Americans plan on voting for President Donald Trump. The Atlas Intel poll finds that Biden leads Trump nationally by just three points. But the real story lies in the percentage of Hispanic and black voters who told the pollsters that they will vote for Trump. According to the survey, 28 per cent of African-Americans say they plan to vote for Trump, a stunning figure. 29 per cent of black Americans also approve of the job Donald Trump is doing.


This compares to 2016 when Trump attracted 8 per cent of the black vote while Hillary Clinton captured 89 per cent. Joe Biden is down to 66 per cent of the black vote, according to the poll. Amongst Hispanics, Trump is up 13 points on the 2016 (41%), while Biden is down 10 per cent (56%). The reason behind the surge in black support for Trump could be the fact that the Black Lives Matter movement seems to be backfiring after 3 straight months of violent riots and unrest. As we highlighted earlier, a separate poll found that Trump’s support amongst African-Americans has doubled since 2016, although the results of the Atlas Intel poll blows even that figure out of the water. Activist Candace Owens, who has led the ‘Blexit’ campaign to convince black Americans to get off the Democratic reservation, appears to have achieved a stunning success.

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CNN went to a different casino.

The Stock Market Thinks Joe Biden Is Going To Beat Donald Trump (CNN)

The presidential election is only two months away and the stock market is soaring. In theory, that should bode well for President Trump since a bull market has historically benefited the incumbent. But Trump is trailing Democratic challenger Joe Biden in many head-to-head national polls. Although the market’s sharp rebound since March could be viewed as a sign that investors expect the coronavirus-induced recession to be brief, you need to dig deeper and look at how the recovery is unfolding. It turns out a basket of stocks that could fare well in a Biden presidency have been outperforming the overall market — as well as a portfolio of stocks that might benefit from a second Trump term.


According to data from Strategas that was shared with CNN Business, a group of infrastructure, renewable energy, pro-globalization, health care and cannabis stocks are up more than 10% since early June. This so-called Biden or blue list includes companies like Granite Construction (GVA), Tesla (TSLA), First Solar (FSLR), chip giant Broadcom (AVGO) and the iShares MSCI Germany ETF (EWG), which owns several top German stocks. The bet is that these companies might thrive if Biden wins and pushes for the United States to rebuild highways and bridges, wean America off oil and restore fractured trade relations with China, Japan, Europe and other global economic leaders.

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There might be a few more this time around.

Hidden Trump Voters Could Have Big November Impact (Hill)

Trump supporters are far more likely to hide their preference in polls. This was the finding of recent research that investigated this increasingly prevalent assumption. If true in even small percentages, an imposing Trump surge could be hiding within the electorate. There is growing suspicion that Trump supporters are not divulging their preferences to pollsters. This would hardly be surprising considering the left’s current cancel culture climate. Five years of vituperation has increasingly turned violent. There are daily occurrences for those willing to objectively look at the riots occurring in big cities across America. Even high-profile people are not immune, as Republican Kentucky Sen. Rand Paul’s narrow escape outside the White House following President Trump’s acceptance speech demonstrated.

It is logical that ordinary Americans could feel vulnerable. To test this theory, CloudResearch recently sampled American voters in search of what they term “shy voters.” Their results show that Trump supporters were “significantly more reluctant to share their opinions on phone surveys compared to Biden supporters.” Almost 12 percent of Republicans and nearly 11 percent of Independents, were also almost twice as likely to be reticent than Democrats (about 5 percent). These seemingly small percentages could have major November implications. For illustration of roughly how big, look at 2016 exit polling. In the last presidential election, 36 percent of voters were Democrats, while 33 percent were Republicans and 31 percent were Independents.

Applying CloudResearch’s “shy voter” percentages to each group yields 9 percent of the electorate as not giving their true candidate preferences. However, those roughly one in 11 reticent voters are not, as CloudResearch discovered, evenly distributed between Donald Trump and Joe Biden. Instead, they run about 2-to-1 in Trump’s favor. On the net, they come out to around a 3 percent hidden “Trump bump.” Again, that may appear small, but not in what is an increasingly tight race. According to Real Clear Politics’s average of polling results, Biden’s national lead is now just 6 percent — down from 9 percent on July 1. Currently, Biden’s lead in the all-important top battleground states is far narrower — just about 3 percent, compared to just over 5 percent on Aug. 5.

While we do not know where these reticent supporters were being recorded (for example, listed as supporting a third-party candidate or as unsure of who they support), if they were listed as Biden supporters, their impact as hidden Trump supporters would be twice as large. This is because of the zero-sum nature of each vote going to Trump also would be deducted from Biden. So, the range of Trump’s benefit relative to Biden from hidden supporters could be anywhere from 3 percent to 5 percent. Either way, in a tight race such an impact would be huge. Remember that in 2016, Trump lost the popular vote to Hillary Clinton by 2 percent. However, Trump still won the electoral vote and the presidency. A hidden 3 percent of Trump supporters would erase Clinton’s 2016 margin and Biden’s current lead in Real Clear Politics’s battleground average. A hidden 5 percent of Trump supporters would push Real Clear Politics’s national average into a dead-heat.

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The reactions should be good.

Trump Orders Feds To Begin Process Of Defunding “Lawless” Cities (ZH)

The feud between Trump and liberal cities which encourage protests which seeking to defund the police escalated sharply on Wednesday, when the President ordered the federal government to begin the process of defunding New York City, Portland, Seattle and Washington, cities where officials allowed “lawless” protests and cut police budgets amid rising violent crime. In a five-page memo sent to federal agencies on Wednesday whose subject is “Reviewing Funding to State and Local Government Recipients of Federal Funds That Are Permitting Anarchy, Violence, and Destruction in American Cities” and signed by Trump, the president orders them to report to the White House Office of Management and Budget on any funding that could be redirected.

New York City, Portland, Seattle and even Washington, DC are among the initial targets of the measure. “My Administration will not allow Federal tax dollars to fund cities that allow themselves to deteriorate into lawless zones,” Trump says in the memo, which mentions New York Mayor Bill de Blasio by name twice. To ensure the federal funding is not wasted or “spent in a manner that directly violates our Government’s promise to protect life, liberty, and property, it is imperative that the Federal Government review the use of Federal funds by jurisdictions that permit anarchy, violence, and destruction in America’s cities.”


In a tweet late on Wednesday, Trump followed up the memo by saying that his administration “will do everything in its power to prevent weak mayors and lawless cities from taking Federal dollars while they let anarchists harm people, burn buildings, and ruin lives and businesses. We’re putting them on notice today.”

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He tries to imitate Trump. Doesn’t work. He just ends up sounding crazy.

Gov. Cuomo: Trump ‘Better Have An Army’ If He Comes To NYC (NYP)

New York Gov. Andrew Cuomo on Wednesday all but threatened President Trump’s safety if he returns to New York City in a rant responding to an exclusive story by The Post that Trump is looking to pull federal funds from “lawless” cities including New York. Cuomo called an emergency press briefing within a half hour on Wednesday night to tear into Trump for the order, which cites New York’s rising murder rate and defunding of the NYPD. “He better have an army if he thinks he’s gonna walk down the street in New York. New Yorkers don’t want to have anything to do with him,” the Democrat said, all but threatening the commander in chief. But Cuomo, who like Trump hails from Queens, wasn’t done. “He can’t have enough bodyguards to walk through New York City, people don’t want to have anything to do with him.” [..]

On substance, Cuomo said he doubted the legality of Trump’s five-page memo ordering a review of federal funds that can be redirected from New York City, Portland, Seattle and Washington, DC. “It is more of the same from him. It’s political, it is gratuitous. And it’s illegal. But it is another attempt to kill New York City,” Cuomo said. “President Ford said drop dead. President Trump has been actively trying to kill New York City since he’s been elected,” he said. In highly personal and insulting language, Cuomo speculated that Trump wasn’t upset about New York’s soaring murder rate and shootings. “I think it’s because he is from New York City and New York City rejected him, always,” Cuomo said. “He was dismissed as a clown in New York City, those who know him best, like him least.”

[..] The governor also claimed Trump’s “negligence” is the reason New York state suffered the highest COVID-19 death toll. The governor’s critics blame his Health Department’s mandate that forbade nursing homes from turning away COVID-19-positive patients, potentially leading to at least 6,500 deaths. At the end of his call, Cuomo, apparently sensing how his remarks about Trump could be seen as threatening, attempted to walk them back. “My comment about the president and bodyguards in New York City, all I’m saying is that he is persona non grata in New York City. And I think he knows that. And he’ll never come back to New York, because New Yorkers will never forget how gratuitously mean he has been to New Yorkers and how many times he’s tried to kill the city that gave him his start and birthed him. That’s what I meant about the bodyguards.”

Earlier Wednesday, Trump called on CNN to fire Cuomo’s younger brother Chris Cuomo over a leaked tape in which he says he was questioned about sexual misconduct. “Fredo must go!” Trump wrote, using an insulting reference from “The Godfather.”

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“..there are also views that China may never surpass the US to be No 1, due to the former’s ageing population..”

China To Overtake US As World’s Top Economy In 2032 – State Think Tank (SCMP)

China is expected to surpass the United States to become the world’s largest economy in a little more than a decade, despite escalating hostilities with Washington, a Beijing-based governmental think tank has forecast. The prediction, made by researchers at the Development Research Centre (DRC) of the State Council, the Chinese government’s cabinet, reflects mainstream assumptions in Beijing about the success of the Chinese government’s new development strategy of focusing more on its domestic market, given the intensifying economic, technological and geopolitical rivalry with the United States. The report also underlines a big assumption in China that the country’s economic rise is unstoppable.

Chinese President Xi Jinping reaffirmed on Monday that China must “speed up” the new “dual circulation” strategy he introduced in May, given that the external environment has become volatile and hostile. According to the group of researchers led by Chen Changsheng, who oversees macroeconomic research at the government-run think tank, disputes between China and the US will intensify further in the next five years. “It can’t be ruled out that the US will use all possible methods to contain China’s development, including imposing financial sanctions on Chinese companies by misusing its ‘long arm’ jurisdiction [to impose US law outside America’s borders], seizing China’s holdings of US Treasury securities … coercing other countries to impose technology embargoes on China, as well as excluding China from the [US] dollar payment system,” according to the report.


However, even those factors cannot stop China’s economic rise, the report suggested. The country’s share of the global economy will rise to 18.1 per cent in 2025 from 16.2 per cent in 2019, while the US share will drop to 21.9 per cent from 24.1 per cent in the same period, the researchers predicted. Last month, Justin Lin Yifu, a professor at Peking University and the World Bank’s former chief economist, predicted that China would surpass the US as the world’s largest economy by 2030. However, there are also views that China may never surpass the US to be No 1, due to the former’s ageing population. Yi Fuxian, a senior scientist at the University of Wisconsin-Madison, argued that, from a demographic point of view, China would not be able to surpass the US in the foreseeable future.

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“..Chinese companies need access to the US markets because they cannot raise significant money on a Hong Kong exchange. Dollar stability is required for their system to work.”

Xi Jinping Is Hoping To Let 1,000 IPOs Bloom In Hong Kong & Shanghai (Whalen)

China under Xi Jinping is becoming the embodiment of George Orwell’s “1984” nightmare fueled by 21st century technological tools. Facial recognition, for example, enabled with a lot of stolen western technology, enables the Chinese state to track the movements of its citizens and include this public surveillance in its overall profile of each citizen. The level of control enjoyed by the CCP is illustrated by the harvesting of human organs from the living bodies of political prisoners. The role of finance in China’s development and the CCP’s adoption of new authoritarian controls is a vital piece of the puzzle. By driving China towards a cashless society, the CCP and state security services can use access to electronic cash and payments as a mechanism for reward or punishment.

When cash is eliminated, the state that controls the means of exchange – call it currency – controls all. As financial reform becomes the next leg of the CCP’s continuing drive to protect its political monopoly in China, the fight with Washington over allowing Chinese firms to list their shares in the US takes on significance. Many Chinese firms refused to follow US requirements regarding audit results, putting them in violation of exchange and SEC rules. But the threats by the US to shut out Chinese firms remain just threats in an election year. “Trump will get louder and louder on China before the election, but all of these things will take years to phase in after the election,” notes veteran China watcher Leland Miller founder of China Beige Book. “But many Chinese companies need access to the US markets because they cannot raise significant money on a Hong Kong exchange. Dollar stability is required for their system to work.”


While US actions to address are correct, attracting more volumes to Chinese exchanges serves the interests of the CCP. Even as the US restricts access to US exchanges, billionaire Jack Ma’s Ant Group is poised to simultaneously list in Hong Kong and Shanghai. Bloomberg News reports Ant is gunning for a valuation of $225 billion, making it the world’s fourth-largest financial company. If you appreciate that the benefits available to CCP members for self-enrichment have been greatly reduced in recent years compared with, say, the first decade of the 2000s, then you understand the problem. Xi Jinping needs to increase the cash flow to communist party cadres in order to maintain control in the 2020s. Reforming the financial system is the perfect canvas for eliminating enemies and generating cash — especially from the important offshore Chinese community.

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“I’m going to take Jack Dorsey’s ass down”

Lin Wood, Attorney For Kyle Rittenhouse, Locked Out Of Twitter Account (Fox)

The high-profile attorney for Kyle Rittenhouse, the 17-year-old charged with fatally shooting two people in Kenosha, said he was locked out of his Twitter account Tuesday after posting about raising money for Rittenhouse’s legal defense. L. Lin Wood argued the action against his account is the latest example of Twitter censorship of conservative voices and he intends to file a lawsuit against the social media giant and its CEO Jack Dorsey. “I’m going to take Jack Dorsey’s ass down,” Wood told Fox News. “He has been abusing the First Amendment of this country for his own agenda.” Wood was blocked from tweeting for several hours on Tuesday for violating Twitter rules. Wood said he’s been careful to abide by Twitter’s terms of service. But he got a notice that his account was locked for “glorifying violence.”

“I knew they were going to censor me because I’m sending a message of hope,” Wood, who posts regularly to his nearly 138,000 followers, told Fox News. “I’m sending a message of truth. And I’m sending a message that Kyle Rittenhouse is innocent.” Hours after the account had been suspended, Twitter said it made a mistake in a statement to Fox News. “This account was incorrectly actioned,” a Twitter spokesperson said. “This has been reversed and the account has been reinstated.” [..] Wood also represents Nicholas Sandmann, Carter Page, St. Louis couple Mark and Patricia McCloskey, Georgia congressional candidate Marjorie Greene and Dr. Simone Gold. To the outside, Wood’s account looked like it was working normally, with no notifications or warnings on his tweets.

But a screengrab of Wood’s account shared with Fox News shows his account “has been locked for violating the Twitter rules.” Specifically, Wood was dinged for “violating our rules against glorifying violence.” “Everybody thinks I’m still on it unless they know I’ve been blocked,” Wood said. “That’s why we’re getting the word out they censored me for nine hours. I have no idea how to get back on. They didn’t give me any instructions.” On Monday, Wood revealed on Twitter that more than 11,000 donors have raised $605,550 for the legal defense of Rittenhouse, who claims the shootings in Kenosha were self-defense. A Twitter user asked if Wood would be selling or disclosing his donor list to other groups. Lin replied “No” and added “#fightback” in reference to the name of the legal fund foundation. That was his last tweet before getting locked out.

Wood said he’s been accumulating “a mountain of evidence” to support a lawsuit against Twitter for discriminating against users based on political speech. Wood previewed a lawsuit he intends to file on behalf Sandmann that could be a class action suit and pointed to Twitter’s actions against his account as the latest example of suppression of free speech. He’s been vocal on Twitter about his intentions to sue. Sandmann, the Covington Catholic High School graduate, filed suit against mainstream media outlets for their coverage of his encounter with a Native American activist at the Lincoln Memorial, which portrayed the teen as the aggressor. He already settled his multi-million dollar defamation lawsuits with CNN and the Washington Post and now Wood says the next frontier will be Twitter and other websites. “Nicholas Sandmann is going to take down the mainstream media. And then we’re going to take down social media,” Wood said. “Nicolas Sandmann is going to never be forgotten.”

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Sounds serious enough.

Steve Bannon Needs A Defense Not A Conspiracy Theory (Turley)

“This entire fiasco is to stop people who want to build the wall.” That was the only response noted from former White House strategist Steve Bannon after his indictment for fraud in New York last week. Facing up to 20 years in prison, it was perhaps the most ambitious political spin from a man whose creativity was matched only by his audacity. If Mr. Bannon is hoping to convert his signature deep-state conspiracy into a criminal defense, however, he will face perhaps his most formidable opponent yet: himself. In a recent book, “Deep State: Trump, the FBI and the Rule of Law” by James B. Stewart, Mr. Bannon is quoted as saying “deep state conspiracy theory is for nut cases” and that such claims are out of bounds since “America isn’t Turkey or Egypt.”

He is now suggesting the a similar conspiracy is afoot to derail his work to build the wall. However, Mr. Bannon needs an explanation, not a narrative, to address his alleged conduct in the indictment. The problem with the deep-state conspiracy as a defense is that it only works if prosecutors in the Southern District of New York are pursuing a simple and honest wall builder with bizarre or novel theories of criminality. In fact, the 24-page indictment is as simple as sin itself. It details knowingly false statements to donors coupled with the misuse of contributed funds for personal expenses of the four principle figures behind the “Build The Wall” campaign. Mr. Bannon never does anything small and, when he decided to delve into the funds of this charity, he did it with signature gusto.


The charity raised $25 million and Mr. Bannon is accused of taking $1 million of that money as personal compensation. His co-defendants Brian Kolfage, Andrew Badolato and Timothy Shea are accused of taking their own shares despite assurances to donors that all of the money would go to building the wall along the southern border.

Read more …

 

 

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I must have said it 1000 times. No velocity, no inflation.

Lance Roberts Velocity and Inflation

 

 

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Sep 012020
 
 September 1, 2020  Posted by at 9:14 am Finance Tagged with: , , , , , , , , ,  18 Responses »


Rembrandt van Rijn Head of a Bearded Man c1630

 

Trump’s America (Newsweek)
Chris Cillizza Blasts President Trump For Using The Word “Riots” (Turley)
The Puppet Candidate in Two Pictures (CT)
Appeals Court Denies Flynn Request To Dismiss Case (ZH)
Russiagate Won’t End: US Appeals Court Reverses Decision To End Flynn Case (RT)
Lucifer’s Hammer (Ben Hunt)
No One Wants to Solve Real Problems (Geraghty)
Coronavirus May Survive On Outdoor Surfaces For Longer In Autumn (SCMP)
Inhaled Nitric Oxide Therapy Benefits Pregnant COVID19 Patients (Harvard)
Bill of Particulars (Jim Kunstler)
Just Put Your Brain on Tesla Autopilot and Believe in It (WS)
Norwegian Researchers Call Against Cleansing Seas Of Plastic Waste (RT)
Waiting for the Old Bailey: Julian Assange (OffG)

 

 

 

 

 

 

 

 

 

 

 

 

Biden 100 years

 

 

 

 

Trump Rittenhouse

 

 

The polls indicated Biden had to be dragged out of his basement to start blaming Trump for the riots and violence. Looks like a hard sell. Certainly when you won’t even allow for Trump to say “riot”.

Trump’s America (Newsweek)

For months, the national media has largely ignored the sustained violent activism plaguing Democrat-run cities. When they do cover these events, it’s portrayed the same way Democratic lawmakers—and the Biden campaign—have chosen to describe them: as “peaceful protests.” But after four effective days of coverage from the Republican National Convention (RNC), shining a spotlight on what’s actually happening, suddenly Democrats are striking a different tone. Now, the Biden-Harris ticket, along with their surrogates, claim the violence in Portland, Kenosha, Seattle, Chicago and the nation’s capital are President Donald Trump’s fault. This is happening, they argue, in “Trump’s America.” The leftists in national media, of course, happily forward the very same dishonest talking point. It will gloriously backfire.

On NBC’s Meet the Press, host Chuck Todd finally tackled the rioting after a deadly night in Portland that left dead someone who appears to be a Trump supporter. He asked Trump’s chief of staff, Mark Meadows, if Trump should bear responsibility: “This in Donald Trump’s America. How much responsibility should voters be giving the president for his inability to…keep the streets safe?” Over at CNN, they do much the same. Struggling to make his point, perhaps because he knows how dishonest it is, host Anderson Cooper stumbled his way through the same “this is Trump’s America” talking point. He then used the same talking point the following morning to set up a softball question to Biden, who responded that the “video [of violence] being played is video being played in Donald Trump’s America.”

This talking point is transparently dishonest and offensively dumb. Literally all of the sustained rioting and other violence has occured in Democrat-run cities. The federal government does not have jurisdiction to always send in the feds to wander rioting streets and quell the civil unrest. If Trump did always have such authority and if he acted upon it, he’d be called a fascist. Indeed, Democrats already call him just that. Trump has offered help many times to cities and states that are dealing with these issues. In Portland, feckless Mayor Ted Wheeler bragged about smugly rejecting Trump’s assistance in an August 28 letter that he posted to Twitter. He told the president, “We don’t need your politics of division and demagoguery.”

That night, activists gained entry into Wheeler’s condo, where they occupied the lobby. The next night, after trying to forcibly stop Trump supporters from protesting, a man in a conservative Patriot Front hat was shot to death. This is Trump’s fault? After the president’s RNC speech, mobs of far-left activists harassed and assaulted cops and conservatives leaving the White House. Other mobs spent Saturday night harassing D.C. diners who are supporting restaurants struggling to stay open amidst a pandemic. This is Trump’s doing? Trump has not just been rebuffed by progressive mayors. His offers of help have been met with insidious claims that Trump is really just practicing a dry-run for martial law, in the event he were to lose the election. And the media has been there to dutifully forward that dangerous claim.

Read more …

“.. the majority of citizens believe that the media actively misrepresents facts. Roughly half view the media as biased. This is why. Of course, this is looting and rioting.”

Chris Cillizza Blasts President Trump For Using The Word “Riots” (Turley)

We have previously discussed how some media organizations told their journalists not to call violence after the death of George Floyd “riots,” including the recently much mocked headline of CNN calling the looting and violence in Kenosha “fiery but mostly peaceful.” Now, Chris Cillizza, an editor-at-large for CNN, is under fire for criticized President Donald Trump for labeling the violence in places like Kenoska “riots.” Critics have noted that the picture posted by Cillizza with this tweet shows a building engulfed in flames. Lawyers notoriously parse terms in ways that often deny their obvious meaning but this effort by some in the media would make a Philadelphia lawyer blush. Cillizza tweeted “Trump’s efforts to label what is happening in major cities as ‘riots’ speaks at least somewhat to his desperation, politically speaking, at the moment.”

I do not deny that both sides are using these riots for political purposes. Trump is using the violence to reinforce a law-and-order theme while Democratic politicians are blaming him for the violence and calling for the 2020 election to be a referendum on racial justice. It is the parsing of the term that intrigues me. In Portland, the Portland police have reportedly declared 13 riots in 80 days. Newspapers in these cities have referred to rioting from Portland to Minneapolis to Kenosa. David Brown, the Chicago Police superintendent, said, “This was not an organized protest, rather, this was an incident of pure criminality.” The coverage of recent looting and rioting has been uneven with networks like CNN spending comparatively limited time reporting on the violence while Fox is covering it exhaustively.

Other outlets like NPR have run segments on how the word “rioting” has racist roots. Whether there are riots depends on what news outlet you use. It is the new reality of echo-journalism. Of course, this dispute turns on a noun that is clearly defined as “public violence, tumult, or disorder.” [..] We have been discussing the concern by many that networks like CNN shape the news to fit a narrative. Fox and MSNBC have been accused of the same practice. Many in the public do not know where to turn for unbiased reporting on the left or the right, according to various polls. Even in acknowledging the importance of the media to our system, the majority of citizens believe that the media actively misrepresents facts. Roughly half view the media as biased. This is why. Of course, this is looting and rioting.

Read more …

This was advertized as a “campaign rally”. He was flown out to Pennsylvania for the event, first time he left Delaware in a long time.

The Puppet Candidate in Two Pictures (CT)

This is the image the mainstream media portray:

This is the image that actually reflects the event:

Any questions?…

Read more …

In the US today, an Appeals Court can reverse a decision by the DOJ, which all the judges in the court in the end work for. DOJ, prosecution, and defense all agreed the case should be dropped. Months ago.

Appeals Court Denies Flynn Request To Dismiss Case (ZH)

Michael Flynn’s request to force a judge to immediately dismiss his case was shot down by a federal appeals court on Monday. In an 8-2 ruling, the DC Circuit Court of Appeals struck down Flynn’s petition to force Judge Emmett Sullivan to accept the Justice Department’s motion to drop charges without holding a hearing, according to The Hill. Flynn’s request that Sullivan be forced to recuse himself was also struck down, after his legal team argued that the judge acted improperly when he appointed a partisan outside attorney to argue against the DOJ’s decision to drop the case, and that it was inappropriate to ask the full circuit court to revisit an earlier decision by a three-member panel of the DC Circuit to drop the case.


Unless Flynn’s lawyers appeal to the Supreme Court, Sullivan will be able to move forward with a hearing about the DOJ’s unusual reversal in the case, before deciding whether to allow the Trump administration to withdraw its charges against the president’s former close aide. Flynn had pleaded guilty in 2017 to lying to the FBI about his conversations with the Russian ambassador to the U.S. and agreed to cooperate with the special counsel’s investigation into Russian interference in 2016 election.” -The Hill. The DOJ filed a motion to drop the case against Flynn in May, after it was revealed that the FBI engaged in a ‘perjury trap’ against the former Trump National Security Adviser.

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“After producing documents revealing that the FBI set out to entrap Flynn, had no valid cause to interview him in the first place, and the prosecutors improperly extorted him into a plea by threatening to charge his son, the Justice Department moved to drop all charges.”

Russiagate Won’t End: US Appeals Court Reverses Decision To End Flynn Case (RT)

A full-bench US federal appeals court has reversed an earlier decision to dismiss the ‘Russiagate’ case against former National Security Advisor Michael Flynn, returning it to the judge who refused to let the charges be dropped. In a 8-2 ruling on Monday, the DC Circuit Court of Appeals sided with Judge Emmet Sullivan, and sent the case back to him for review. Sullivan had been ordered by a three-judge panel in June to drop the case against Flynn immediately, but hired an attorney and asked for an en banc hearing instead. [..] The former top lawyer for the Barack Obama administration, Neal Katyal, hailed the decision as “an important step in defending the rule of law” and argued the case should not be dismissed because Flynn had pleaded guilty.

Sidney Powell

Flynn had indeed pleaded guilty to one charge of lying to the FBI, but Powell moved to dismiss the charges due to the failure of his previous attorneys – a law firm with ties to the Democrats – and the government to disclose evidence that could set him free. After producing documents revealing that the FBI set out to entrap Flynn, had no valid cause to interview him in the first place, and the prosecutors improperly extorted him into a plea by threatening to charge his son, the Justice Department moved to drop all charges. Sullivan had other ideas, however. In a highly unusual move, he appointed a retired judge – who had just written a diatribe about the case in the Washington Post – to be amicus curiae and argue the case should not be dropped. It was at this point that Powell took the case to the appeals court, citing Fokker, a recent Supreme Court precedent that Sullivan was violating.

Ignoring the fact that Sullivan had appointed the amicus and sought to prolong the case after the DOJ and the appeals court both told him to drop it, the en banc panel argued the proper procedure means he needs to make the decision before it can be appealed. One of the judges, Thomas Griffith, actually argued in a concurring opinion that it would be “highly unusual” for Sullivan not to dismiss the charges, given the executive branch’s constitutional prerogatives and his “limited discretion” when it came to the relevant federal procedure, but said that an order to drop the case is not “appropriate in this case at this time” because it’s up to Sullivan to make the call first.

[..] With Mueller failing to find any evidence of “collusion” between President Donald Trump’s campaign and Russia, Democrats have latched onto Flynn’s case as proof of their ‘Russiagate’ conspiracy theory. The latest argument is that the effort to drop the charges against Flynn is politically motivated and proof of Attorney General Bill Barr’s “corruption.” Barr is currently overseeing a probe by US attorney John Durham into the FBI’s handling of the investigation against Trump during and after the 2016 election, with the evidence disclosed during the Flynn proceedings strongly implicating not just the senior FBI leadership but senior Obama administration figures as well.

Read more …

“Neither the Democratic party nor the Republican party survives a defeat this November in anything close to their current form. I think several people are starting to think about that. But here’s what’s also true: Neither the Democratic party nor the Republican party survives a victory this November. And no one is thinking about that.”

Lucifer’s Hammer (Ben Hunt)

Four years ago, when I wrote that I thought Trump would defeat Clinton, I said that Trump breaks us by turning every one of our domestic political games from a coordination game – where cooperation in the national interest is at least possible – into a pure competition game where that potential cooperation is impossible. He did. That’s exactly what happened. So today, neither the Trump campaign nor the Biden campaign can see the United States through anything other than the lens of a pure competition game.

Neither campaign or party will take the necessary steps to defuse the growing violence in American cities, like Biden calling for Democratic mayors to request National Guard support or like Trump doing anything to accommodate the voices of nonviolent protesters, because they both think that to do so would place them at a competitive disadvantage in the November election. Neither campaign or party is appropriately afraid of this comet hitting the United States, because they both think that they’ll do just fine in a post-comet world.

They both think that they can handle the aftermath of this comet strike after November 4th. They both are listening to their institutional Ego rather than to the Narrator. They are both sowing the wind. And they will both reap the whirlwind. Neither the Democratic party nor the Republican party survives a defeat this November in anything close to their current form. I think several people are starting to think about that. But here’s what’s also true: Neither the Democratic party nor the Republican party survives a victory this November. And no one is thinking about that.

Read more …

That 6% figure from the CDC that so many are touting is not what it seems.

No One Wants to Solve Real Problems (Geraghty)

The president of the United States retweeted a link to a post on Gateway Pundit, asserting that the real death toll from COVID-19 is merely 9,000, and that the other roughly 178,000 deaths were because of other factors. That was a pretty egregious misinterpretation of the CDC’s data; the CDC stated, “For 6 percent of the deaths, COVID-19 was the only cause mentioned [on the death certificate]. For deaths with conditions or causes in addition to COVID-19, on average, there were 2.6 additional conditions or causes per death.” The list of conditions is long and varied: diabetes, various heart-related conditions including hypertension, cardiac arrest, ischemic heart disease (hardening of the arteries), cardiac arrhythmia and heart disease, chronic kidney disease, chronic obstructive pulmonary disease, chronic lower respiratory diseases, obesity, an immunocompromised state from an organ transplant, coronary art disease, or sickle cell disease.

None of the conditions listed above are death sentences by themselves. With treatment and medication, most people diagnosed with those conditions can live long and happy lives. No one with the slightest understanding of human health can look at someone with one of those conditions listed above dying from COVID-19 and conclude, “that person was going to die soon anyway.” And if your takeaway from this data is that SARS-CoV-2 is only a risk to those with one of those conditions . . . great, now we just have to worry about the 100 million or so Americans with diabetes or prediabetes, the roughly 100 million Americans with high blood pressure, the one in three American adults at risk for chronic kidney disease, the 16 million to 24 million Americans believed to be at risk for chronic obstructive pulmonary disease, the 1 in 500 adults who have cardiomyopathy, the millions of Americans either being treated for cancer or who have recovered from cancer, the roughly 100,000 Americans with sickle cell disease, the nearly 49,000 Americans who had an organ transplant last year, and the slightly smaller number of transplant recipients this year.

There are some overlaps among those groups, but we have plenty of Americans who have one or more comorbidities and who would be at risk if they caught SARS-CoV-2.

6%

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Well, we’re all going to be cleaner anyway.

Coronavirus May Survive On Outdoor Surfaces For Longer In Autumn (SCMP)

As the northern hemisphere heads into autumn, the coronavirus may be able to survive on outdoor surfaces for much longer, according to a new US study. Researchers found that in lower temperatures and humidity, the virus could, for example, remain on a hiker’s jacket if it was outside for a week – and remain infectious for that time – whereas in summer its lifespan was estimated to be one to three days. The prolonged survival of the virus on surfaces in autumn could “potentially contribute to new outbreaks”, the team led by Juergen Richt, professor of veterinary microbiology at Kansas State University, wrote in a non-peer-reviewed paper posted on preprint website bioRxiv.org on Monday. They believed the virus would also survive for longer indoors in colder and less humid conditions.

The study found it had an average half-life – or rate of decay – of nearly eight hours on a stainless steel doorknob, or nearly 10 hours on a window, which was about to twice the duration in summer. The coronavirus, which causes the disease Covid-19, has adapted well to humans. But to survive outside its human hosts – it spreads through respiratory droplets and contaminated surfaces – the pathogen is believed to prefer lower temperatures and humidity. For the study, Richt’s team used climate data from America’s Midwest to recreate artificial seasons in biosafety chambers. Temperature was controlled at 13 degrees Celsius and 66 per cent relative humidity for spring and autumn, while for summer it was kept at 25 degrees and 70 per cent. The virus was then applied to the surface of 12 materials people come into contact with every day, such as cardboard, concrete, rubber, gloves and N95 masks.

The aim was to find out if the viability of the virus changed with the season. Earlier in the pandemic, the research community had hoped the spread of the virus would slow in summer, believing it would be less likely to stay in the air in warmer weather. But the resurgence of infections in many areas – especially the United States, the worst-hit country where more than 80,000 cases per day were recorded at the peak of summer – raised the question of whether there was any seasonal impact at all. The result of the Midwest study “clearly demonstrates that the virus survives longer under spring/fall not summer conditions”, the researchers said in the paper. That trend was observed on all materials tested, to varying degrees. Out of all of them, the virus survived longest on Tyvek, a synthetic material used in everything from home insulation to personal protective equipment and outdoor wear, with a half-life of up to 45 hours.

Read more …

So try it on all patients?

Inhaled Nitric Oxide Therapy Benefits Pregnant COVID19 Patients (Harvard)

Inhaled nitric oxide (NO) can be a valuable adjunct respiratory therapy for pregnant women with severe and critical COVID-19, a team of researchers from Massachusetts General Hospital (MGH) has found. The delivery of the therapeutic gas to six COVID-19 pregnant patients admitted to MGH, as described in a paper in Obstetrics & Gynecology, resulted in a rapid and sustained improvement in cardiopulmonary function and decreased inflammation. The resolution of viral infection within 22 days was observed in five of the six patients, findings that could have important implications for treating viruses like Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2). The study is the first to investigate the role of inhaled NO in pregnant people with COVID-19.

The patients experienced rapid relief from breathlessness, a lower respiratory rate, and better oxygenation after mask administration of high concentration NO, according to Lorenzo Berra in the Department of Anaesthesia, Critical Care and Pain Medicine at MGH. Berra also reported no negative side effects. “In addition, inflammatory markers showed a rapid decrease after breathing NO and five of the six patients in our study showed viral clearance from nasopharyngeal swabs by 22 days after COVID-19 diagnosis,” Berra, corresponding author of the study, added. “All patients were discharged in stable condition from the hospital. We found these results to be very encouraging.”

Inhaled NO increases oxygenation by dilating or opening constricted blood vessels, especially in more well-ventilated areas of the lung, thereby improving intrapulmonary shunt fraction, or the percentage of blood put out by the heart that is not completely oxygenated. A recent report from the Centers for Disease Control and Prevention (CDC) suggests that pregnant women with COVID-19 are more likely to be hospitalized, are at increased risk of being admitted to the intensive care unit, and more often require mechanical ventilation compared to nonpregnant women.

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“I’m against them heart and soul, and I no longer care what my old friends think about it.”

Bill of Particulars (Jim Kunstler)

RussiaGate was, in the strict sense of the word, a conspiracy to overthrow a president carried out by a coordinated effort of high-ranking government employees across many agencies, who knew exactly what they were doing. It was an exercise in perfidy, bad faith, and lawlessness run by the very Department of Justice entrusted with enforcing federal law, including attorney Andrew Weissmann’s clean-up crew fronted by the dishonorable figurehead Robert Mueller. It remains unresolved due to the tensions in that department and the obdurate resistance of the federal courts — for example in the three-year persecution of General Flynn. The eventual day that the hammer comes down on the perps of RussiaGate, if ever it does come, will be a moment of historic moral and ethical clarification in this sore-beset country.

The 2019 impeachment fiasco was a parallel ruse run by Representative Adam Schiff, former Department of Justice lawyer Mary McCord, and Lawfare warrior Daniel S. Goldman, with help from Resistance intriguers in the National Security Council, Eric Ciaramella and Alexander Vindman, and Hillary Clinton’s holdover confederates in the State Department. Mr. Ciaramella’s pretense to be acting as a “whistleblower” was a nakedly false act, illegally abetted by Intel Community Inspector General Michael Atkinson, himself a former DOJ RussiaGate player. It is amazing that neither of these two has been indicted for sedition.

Add to these matters the associated misdeeds in the FISA courts, the ridiculous, scurrilous charges against Supreme Court Justice nominee Brett Kavanaugh by the mendacious Christine Blasey Ford, the ongoing schemes of House Speaker Nancy Pelosi and Senate Minority Leader Charles Schumer to rig the vote with unverifiable mail-in ballots, and the wholesale acts against the public interest by Democratic mayors and governors such as Ted Wheeler, Kate Brown, Bill de Blasio, Andrew Cuomo, Lori Lightfoot, J.B. Pritzker, Ralph Northam, Jacob Frey, Tim Walz, Muriel Bowser, Eric Garcetti, Gavin Newsom, Tony Evers and a wider rogues’ gallery of other Democratic Party subalterns such as Minnesota AG Keith Ellison and NYC education Chancellor Richard Carranza and you have a nearly complete picture of this odious faction.

Finally, add the cherry-on-top: Democratic candidate for president, Joe Biden. Does anybody still believe he is a plausible chief executive — even in his own degenerate party? I doubt it. Why they engineered his nomination may remain one of the great mysteries of human existence. Except perhaps to speculate that their sadism has turned inward and become a suicidal death-wish. They are finally so miserably contemptible that they just want to end it all. Personally, I don’t want to see any of these people anywhere near the levers of power in this country. Quite a few of them deserve to be in jail, and I believe before Mr. Trump’s second term is up, they will be — if they don’t try to wreck the United States altogether with new treasons in the November election. I’m against them heart and soul, and I no longer care what my old friends think about it.

Read more …

As someone tweeted earlier: all we have to do now is wait for Tesla to buy Berkshire Hathaway.

Just Put Your Brain on Tesla Autopilot and Believe in It (WS)

Let’s get this straight: Tesla is led by a CEO who is regularly seen walking on water, and its shares are a supernatural phenomenon. Today, those shares, trading for the first time after the 5-for-1 split, surged from $442.61 at the open to $498.32 at the close and then on to $514.74 after-hours at the moment. That’s a 16.3% ride in one day, following weeks of supernatural moves into the heavens. Below is my Triple-WTF Chart of the Year because it just blew away and annihilated my WTF-Chart of the Year of February 4 and my Double-WTF Chart of the Year of July 1 (stock prices via YCharts):

The stock split did the job, based on the logic that a five-dollar bill broken into five ones makes each of those ones suddenly worth $1.16 — or $1.87 if you start counting since the announcement of the split on August 11. I mean, it’s just pure supernatural, and if you don’t get it, too bad, it’s a sign that you just don’t have the right stuff. Back on July 1, Tesla surpassed Toyota as the most valuable automaker in the world. At the time, Tesla traded at $226 a share ($1,130 pre-split). Since that propitious date two months ago, Tesla has skyrocketed another 127%.


At the time when it blew past Toyota, the value that the market put on Tesla (outstanding shares times share price) was $210 billion, which was – and I mean was – a huge number. Now, after-hours, Tesla’s market capitalization, according to YCharts, is $476 billion. Today alone, Tesla’s market cap soared by $64 billion in eight hours, including after hours. That’s $8 billion in “value created” per hour. If you have to ask, “value created by doing what,” then you don’t have the right stuff. Simple as that.

Read more …

I can see how trawling is a problem, but how does that mean there is no point in cleaning it up? How about a different method?

Norwegian Researchers Call Against Cleansing Seas Of Plastic Waste (RT)

Cleaning floating plastic from the sea is a “lost cause” and trying to remove it can actually do more harm than good, new research suggests. Instead, clean-up efforts should focus on rubbish washed ashore. Trying to clean up plastic pollution from the open seas is a “waste of time and resources,” researchers with the Norwegian-based SALT company have concluded. “The rubbish in the sea is a lost cause, there is no point in cleaning it up,” the team said in a newly released research paper. Assorted plastic, that is floating around the seas is way too scattered to be easily removed, the researchers argued. Attempting to trawl it out is not only disproportionately costly and time-consuming, but it can also do more harm than good.

Trawling large areas will catch “too much fish and wildlife compared with the amount of rubbish,” the research team noted. “In addition, rubbish is often found in marine life and organic material that is important for the ecosystems and animals that live there. In the worst case, we risk doing more harm than good by trawling over the areas,” lead author of the research paper Jannike Falk-Andersson told broadcaster NRK. Instead of wasting time and recourses on the high seas clean-ups, people should focus on hand-picking trash washed ashore, which is a far more gentle and effective method. “There, you pick one thing at a time. You do not drag large objects across the beach that kills everything it comes across, in an attempt to clean up,” Falk-Andersson explained.

The research has been praised by Norway’s Climate and Environment Minister Sveinung Rotevatn, who, at the same time, described the plastic pollution as a rapidly escalating problem that must be tackled with a broad international effort. “It is very good that a critical spotlight is placed on clearing plastic in the sea. We have long pointed out that cleaning in the sea areas starts at the wrong end and that there is a risk of damage to life in the sea when trawling for plastic,” Rotevatn told NRK. Over the past years, plastic pollution has become one of the main environmental problems with the amount of waste floating around the oceans growing at alarming rates. According to various estimates, some 15 tons of plastic gets into the planet’s seas every minute.

Read more …

How many British people realize they have no justice system left? Doesn’t that worry you?

Waiting for the Old Bailey: Julian Assange (OffG)

On September 7, Julian Assange will be facing another round of gruelling extradition proceedings, in the Old Bailey, part of a process that has become a form of gradual state-sanctioned torture. The US Department of Justice hungers for their man. The UK prison authorities are doing little to protect his health. The end result, should it result in his death, will be justifiably described as state-sanctioned murder. This picture was not improved upon by a prison visit from his partner, Stella Morris, accompanied by their two children. Almost six months had passed since the last meeting. Physical distancing was practised during the twenty-minute meeting in Belmarsh Prison.

Morris and Assange wore face masks and visors, a state of affairs curious given the conspicuous lack of protective wear that has been given to Assange during the pandemic. A prohibition on touching was observed. “We had to keep social distancing and Julian was told he would have to self-isolate for two weeks if he touched the children.” Were officials being careful and considerate? Not according to Assange, who claimed it was the first time he had received a mask “because things are very different behind the doors.” Morris noted a prevailing thinness, a yellow armband to indicate prisoner status, and the fact that he was “in a lot of pain.”

What awaits Assange next month promises to be resoundingly ugly. He will have to ready himself for more pain, applied by Judge Vanessa Baraitser. Throughout her steering of proceedings, Baraitser has remained chillingly indifferent to Assange’s needs, a model of considered cruelty. Keen followers of justicia will be crestfallen: limiting access to legal counsel by keeping him caged behind a glass screen; ignoring his health considerations in refusing emergency bail during the COVID-19 pandemic. Her behaviour has been in keeping with that of Chief Magistrate Lady Emma Arbuthnot, who has done her precious bit to soil the citadel of British justice in previous rulings on Assange. With a family well and truly embedded in the British intelligence and military establishment, it was alarming to even see her name allocated to the Assange case.

Read more …

 

 

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Three miles north of purgatory – one step from the great beyond
I prayed to the cross, and I kissed the girls, and I crossed the Rubicon

– Bob Dylan

 

 

 

 

Support the Automatic Earth in virustime.

 

Aug 292020
 


Johannes Vermeer Woman (in Blue) Reading a Letter 1662-3

 

The US Social Fabric Is Fraying Severely, if Not Unravelling (Greenwald)
Kyle Rittenhouse Worked as a Lifeguard in Kenosha the Day of the Shooting (GP)
CNN Has Turned Itself Into America’s Baghdad Bob (Widburg)
Kamala Harris Promises National Mask Mandate If Elected (NYP)
Judge Voids 50,000 Absentee Ballot Requests In Iowa County (AP)
Chairman of Joint Chiefs: No Role For Military In Presidential Election (AP)
France Sees ‘Exponential Rise’ In COVID Cases (BBC)
German Court Overturns Protest Ban (ZH)
German Economy Succumbing to Zombie Companies – Lacalle (SL)
End of an Abe Era for Japan

 

 

There are serious infection problems popping up in Europe, exposing even more incompetence.

 

 

 

 

 

 

 

 

 

 

The Dark Side Of Social Media

 

 

It’s coming from within. It comes from the realization across -social- media that people’s sub-conscious can be easily manipulated into generating fear and anger.

The US Social Fabric Is Fraying Severely, if Not Unravelling (Greenwald)

The year 2020 has been one of the most tumultuous in modern American history. To find events remotely as destabilizing and transformative, one has to go back to the 2008 financial crisis and the 9/11 and anthrax attacks of 2001, though those systemic shocks, profound as they were, were isolated (one a national security crisis, the other a financial crisis) and thus more limited in scope than the multicrisis instability now shaping U.S. politics and culture. Since the end of World War II, the only close competitor to the current moment is the multipronged unrest of the 1960s and early 1970s: serial assassinations of political leaders, mass civil rights and anti-war protests, sustained riots, fury over a heinous war in Indochina, and the resignation of a corruption-plagued president.

But those events unfolded and built upon one another over the course of a decade. By crucial contrast, the current confluence of crises, each of historic significance in their own right — a global pandemic, an economic and social shutdown, mass unemployment, an enduring protest movement provoking increasing levels of violence and volatility, and a presidential election centrally focused on one of the most divisive political figures the U.S. has known who happens to be the incumbent president — are happening simultaneously, having exploded one on top of the other in a matter of a few months. Lurking beneath the headlines justifiably devoted to these major stories of 2020 are very troubling data that reflect intensifying pathologies in the U.S. population — not moral or allegorical sicknesses but mental, emotional, psychological and scientifically proven sickness.

Many people fortunate enough to have survived this pandemic with their physical health intact know anecdotally — from observing others and themselves — that these political and social crises have spawned emotional difficulties and psychological challenges. But the data are nonetheless stunning, in terms of both the depth of the social and mental health crises they demonstrate and the pervasiveness of them. Perhaps the most illustrative study was one released by the Centers for Disease Control and Prevention earlier this month, based on an extensive mental health survey of Americans in late June. One question posed by researchers was whether someone has “seriously considered suicide in the past 30 days”— not fleetingly considered it as a momentary fantasy nor thought about it ever in their lifetime, but seriously considered suicide at least once in the past 30 days. The results are staggering.

For Americans between 18-24 years old, 25.5 percent — just over 1 out of every 4 young Americans — said they had. For the much larger group of Americans ages 25-44, the percentage was somewhat lower but still extremely alarming: 16 percent. A total of 18.6 percent of Hispanic Americans and 15 percent of African Americans said they had seriously considered suicide in the past month. The two groups with the largest percentage who said yes: Americans with less than a high school degree and unpaid caregivers, both of whom have 30 percent — or almost 1 out of every 3 — who answered in the affirmative. A full 10 percent of the U.S. population generally had seriously contemplated suicide in the month of June.

In a remotely healthy society, one that provides basic emotional needs to its population, suicide and serious suicidal ideation are rare events. It is anathema to the most basic human instinct: the will to live. A society in which such a vast swath of the population is seriously considering it as an option is one which is anything but healthy, one which is plainly failing to provide its citizens the basic necessities for a fulfilling life.

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No, I don’t know all the facts. But I’m always wary of people crucifying minors. And I’m intrigued by the interest of Lin Wood in the case, since he took on the defense of Nicholas Sandmann, himself also a minor the media crucified, on completely false and fabricated grounds. It has cost those same media not only millions, but also a great deal of their reputation.

Kyle Rittenhouse Worked as a Lifeguard in Kenosha the Day of the Shooting (GP)

Kyle Rittenhouse is a community lifeguard who was working in Kenosha the day of the shooting. This simple fact destroys the narrative being peddled by the mainstream media that he had “crossed state lines” to harm the rioters. In a statement by Rittenhouse’s legal team at Pierce Bainbridge, provided to the Gateway Pundit, “after Kyle finished his work that day as a community lifeguard in Kenosha, he wanted to help clean up some of the damage, so he and a friend went to the local public high school to remove graffiti by rioters.” Additionally, the weapon Rittenhouse was using to protect himself and others never crossed state lines. “Later in the day, they received information about a call for help from a local business owner, whose downtown Kenosha auto dealership was largely destroyed by mob violence,” the statement continues.

“Business owner needed help to protect what he had left of his life’s work, including two nearby mechanic’s shops. Kyle and a friend armed themselves with rifles due to the deadly violence gripping Kenosha and many other American cities, and headed to the business premises. The weapons were in Wisconsin and never crossed state lines.” When Rittenhouse arrived at the mechanics shop, he and others stood guard to prevent further destruction. Later that night, long after the 8 p.m. curfew had passed, the police began to disperse a group of rioters. His lawyer, John M. Pierce, explains that while dispersing the mob, they maneuvered a mass of individuals down the street towards the auto shops. Rittenhouse and the others were threatened and taunted, but he did not react. “His intent was not to incite violence, but simply to deter property damage and use his training to provide first aid to injured community members,” Pierce says.

After the situation seemed to be diffused, Rittenhouse became increasingly concerned about people who were injured at the gas station, so he went in that direction with his first aid kit. He helped those he could find who were injured, either by administering aid or directing them which way to go for help beyond what he could offer. The statement says that by the final time that Rittenhouse returned to the gas station and “confirmed there were no more injured individuals who needed assistance, police had advanced their formation and blocked what would have been his path back to the mechanic’s shop. Kyle then complied with the police instructions not to go back there. Kyle returned to the gas station until he learned of a need to help protect the second mechanic’s shop further down the street where property destruction was imminent with no police were nearby.”

“As Kyle proceeded towards the second mechanic’s shop, he was accosted by multiple rioters who recognized that he had been attempting to protect a business the mob wanted to destroy. This outraged the rioters and created a mob now determined to hurt Kyle. They began chasing him down. Kyle attempted to get away, but he could not do so quickly enough. Upon the sound of a gunshot behind him, Kyle turned and was immediately faced with an attacker lunging towards him and reaching for his rifle. He reacted instantaneously and justifiably with his weapon to protect himself, firing and striking the attacker,” Pierce explains. Additionally, Rittenhouse stopped to ensure care for his attacker, hardly sounds like someone who had went to the riot with intent to kill.

“Kyle stopped to ensure care for the wounded attacker but faced a growing mob gesturing towards him. He realized he needed to flee for his safety and his survival. Another attacker struck Kyle from behind as he fled down the street. Kyle turned as the mob pressed in on him and he fell to the ground,” his legal team says. “One attacker kicked Kyle on the ground while he was on the ground. Yet another bashed him over the head with a skateboard. Several rioters tried to disarm Kyle. In fear for his life and concerned the crowd would either continue to shoot at him or even use his own weapon against him, Kyle had no choice but to fire multiple rounds towards his immediate attackers, striking two, including one armed attacker. The rest of the mob began to disperse upon hearing the additional gunshots.” Rittenhouse then attempted to turn himself in, but was told to keep moving. He went and turned himself in to his local police that evening.

Lin Wood

Tucker Rittenhouse

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There are no limits anymore.

CNN Has Turned Itself Into America’s Baghdad Bob (Widburg)

On Tuesday, with its reporter standing in front of a raging fire, CNN ran a ludicrous chyron stating, “fiery but mostly peaceful protests after police shooting.” Ordinarily, this wouldn’t be worthy of reporting three days later. However, for some reason, this chyron was a bridge too far for many people, and the internet is still flooded with memes. It’s apparent that, with this latest denial of objective reality, CNN has finally completed its transformation into Muhammad Saeed al-Sahhaf, whom many Americans remember almost fondly as Baghdad Bob, the Hussein regime propagandist who insisted that Saddam was winning even as U.S. troops entered Baghdad.

In 2003, when our military successfully invaded Iraq and quickly captured Baghdad, Muhammad Saeed al-Sahhafk, AKA Baghdad Bob, was Saddam Hussein’s minister of information. As troops neared and then entered Baghdad, al-Sahhaf gave daily press briefings during which he announced the most outrageous lies about the wars. For example, Baghdad Bob insisted that American troops were committing suicide “by the hundreds” and that none had entered Baghdad. Meanwhile, Americans were a few hundred yards away from him, and the audience could hear the sounds of their fighting. On April 8, four days before Americans captured Baghdad, al-Sahhaf was still insisting that U.S. troops “are going to surrender or be burned in their tanks. They will surrender. It is they who will surrender.”


Baghdad Bob was last heard from some years ago, living in the United Arab Emirates. However, it’s entirely possible that he’s currently working for CNN, a former news network and now a sloppy propaganda outlet for the anarcho-Marxists of Antifa and Black Lives Matter. Obviously, things are a bit different here for Bob. Last time, American troops were closing in on Baghdad as Bob spun manifest lies about events. This time, American anarchists and communists are closing in on an American city as CNN spins manifest lies about events. But aside from the details, that chyron running across the bottom of the CNN screen is vintage Baghdad Bob:

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Still thinks she wants to win?

Kamala Harris Promises National Mask Mandate If Elected (NYP)

Kamala Harris said on Friday that a nationwide mask mandate would be among the first orders of business if she and Joe Biden were elected to the White House in November, calling it the “responsible” thing to do. The Democratic vice presidential nominee expanded on the three-month plan that Biden has promised to enact if he won the White House, explaining that every American would be expected to wear a face covering amid the pandemic. “Yes,” Harris, 55, said when asked if that would be one of their first actions in power during an interview on NBC’s “TODAY.” “It’s a standard. I mean, nobody’s going to be punished,” Harris continued when asked how it would be enforced.


“Nobody likes to wear a mask, this is a universal feeling, right? So, that’s not the point,” she said. “The point is this is what we as responsible people who love our neighbor, we have to just do that right now. God willing, it won’t be forever.” The CDC recommends mask-wearing in public when you are unable to stay 6-feet away from others so as to stop the spread of disease. President Trump rejected Biden’s mandate earlier this month during a White House briefing, telling reporters the Democratic nominee had showed an “appalling lack of respect” for the American people. “It’s up to the governors. We want to have a certain freedom,” Trump said. “If the president has the unilateral power to order every single citizen to cover their face in nearly all instances, what other powers does he have?” he asked.

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There are dozens of such lawsuits pending.

Judge Voids 50,000 Absentee Ballot Requests In Iowa County (AP)

A judge ordered an Iowa county Thursday to invalidate 50,000 requests for absentee ballots, agreeing with President Donald Trump’s campaign that its elections commissioner overstepped his authority by pre-filling them with voters’ personal information. Judge Ian Thornhill issued a temporary injunction ordering Linn County Auditor Joel Miller to notify voters in writing that the forms should not have been pre-filled with their information and cannot be processed. Instead, they’ll have to either fill out new requests for absentee ballots or vote on Election Day. The ruling marks an initial victory for Trump’s challenges to absentee voting procedures in three counties in Iowa, which is expected to be competitive in his race against Democratic nominee Joe Biden.

They’re part of an unprecedented legal battle involving dozens of lawsuits nationwide that will shape the rules of the election. Republicans said the ruling would hold a “rogue auditor” accountable and enhance voting security, while outraged Democrats called it an act of voter suppression. Miller said he would abide by the order, pledging to void the returned requests and send out new blank forms to voters next month. At issue was Miller’s decision to send absentee ballot request forms to 140,000 voters in July that were already filled with their personal information, including names, dates of birth and, most significantly, voter identification numbers. Miller, a Democrat, has said his goal was to make it as easy as possible to vote absentee during a pandemic, as the virus spreads uncontrolled across the state.


Voters had to review, sign and return the forms to request ballots that will be mailed beginning Oct. 5. About 50,000 requests have been returned in the Democratic-leaning county, which is Iowa’s second largest and is recovering from a derecho that devastated the region Aug. 10. The phone system for the county elections office remained out of service Thursday. Thornhill ruled that Miller’s mailing violated a “clear directive” from Iowa Secretary of State Paul Pate, who told county officials in July that absentee ballot request forms mailed to voters must be blank in order to ensure uniformity.

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Both sides will sell this as an affirmation of their views.

Chairman of Joint Chiefs: No Role For Military In Presidential Election (AP)

The U.S. armed forces will have no role in carrying out the election process or resolving a disputed vote, the top U.S. military officer told Congress in comments released Friday. The comments from Gen. Mark Milley, chairman of the Joint Chiefs of Staff, underscore the extraordinary political environment in America, where the president has declared without evidence that the expected surge in mail-in ballots will make the vote “inaccurate and fraudulent,” and has suggested he might not accept the election results if he loses. Trump’s repeated complaints questioning the election’s validity have triggered unprecedented worries about the potential for chaos surrounding the election results.

Some have speculated that the military might be called upon to get involved, either by Trump trying to use it to help his reelection prospects or as, Democratic challenger Joe Biden has suggested, to remove Trump from the White House if he refuses to accept defeat. The military has adamantly sought to tamp down that speculation and is zealously protective of its historically nonpartisan nature. “I believe deeply in the principle of an apolitical U.S. military,” Milley said in written responses to several questions posed by two Democratic members of the House Armed Services Committee. “In the event of a dispute over some aspect of the elections, by law U.S. courts and the U.S. Congress are required to resolve any disputes, not the U.S. military. I foresee no role for the U.S armed forces in this process.”


Milley’s tone reflects the longstanding views of military leaders who insist that the nation’s military stays out of politics and that troops are sworn to protect the country and uphold the Constitution. But the two Congress members, Reps. Elissa Slotkin of Michigan and Mikie Sherrill of New Jersey, said Friday that Trump’s recent comments and his efforts to use the military to quell protests have fueled their concerns. The two lawmakers released Milley’s answers.

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“On Friday, masks were made mandatory outdoors in Paris to fight the rising infections.”

How does that work exactly?

France Sees ‘Exponential Rise’ In COVID Cases (BBC)

France has recorded its biggest daily rise in coronavirus infections since March, as President Emmanuel Macron raised the possibility of another nationwide lockdown. A further 7,379 cases were confirmed on Friday, bringing the country’s total to 267,077. It was the largest daily spike since 31 March, when 7,578 cases were tallied at the peak of the first wave. France was seeing an “exponential” rise in cases, the health ministry said. The ministry said Friday’s rise follows daily increases of 6,111 on Thursday and 5,429 on Wednesday. Despite the sharp rise, hospital numbers and daily deaths were relatively stable, as young people less vulnerable to the disease make up most of the new infections, the ministry said. Another 20 people were confirmed to have died with Covid-19 on Friday, bringing France’s overall death toll to 30,596.


Shortly before Friday’s figures were released, Mr Macron said a second national lockdown could not be ruled out if infections spiralled out of control. However he said his government was trying to avoid the return of restrictions that would set back the country’s fragile economic recovery. “Containment is the crudest of measures to fight against a virus,” said Mr Macron, urging people to be “collectively very rigorous”. France began easing its eight-week-long lockdown in May. But some parts of the country – including the capital Paris – remained under tighter controls. Local authorities have been given powers to enforce lockdown measures, such as closing down bars and restaurants, in areas where cases are surging. On Friday, masks were made mandatory outdoors in Paris to fight the rising infections.

HCQ OTC

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Germany, too, has fallen into the trap of allowing one type of protest, but banning another. That’s just politics, nothing to do with health care.

German Court Overturns Protest Ban (ZH)

Earlier in the week, we reported that authorities in Berlin had banned a series of planned demonstrations against the country’s COVID-19 lockdown measures – claiming they were organized by “right-wing extremists” and would lead to the spread of the virus. The city said it would deploy several thousand police around the German capital this weekend, citing threats. Notably, the German city did not ban a June Black Lives Matter protest in which approximately 15,000 people turned out. Meanwhile, the Assembly for Freedom had 17,000 registered demonstrators for the August 29 event before Berlin shut it down. “We are still in the middle of a pandemic with rising infection figures,” said Berlin Interior Minister, Andreas Geisel.

“This is not a decision against freedom of assembly, but a decision in favor of infection protection,” he continued, adding that Berlin should not be “misused as a stage for corona deniers… and right-wing extremists.” About 20,000 people, including libertarians, constitutional loyalists, far-right supporters and anti-vaccination activists, marched in Berlin on Aug. 1. But now, as Off-Guardian reports, the Berlin Senate’s decision to ban the coronavirus protest planned for this weekend has been overturned by the Administrative Court. That said, the protest will still be under some restrictions – the court ruled that the organizers must follow all the laws and restrictions they are protesting against.


According to a report from Deutsche Welle: “…the judges said protest organizers and participants must provide barriers in front of the stages where speeches will be held – and must regularly remind participants to observe social distancing rules and keep their distance. Wearing masks was not included in the judge’s guidelines for the protest.” The court’s decision can be appealed by the Senate, but given the timeframe that seems unlikely at this stage. Many thousands were reportedly travelling to Berlin regardless, as it was thought the protest organizers intended to go ahead in spite of the ban. A similar protest on August 1st drew tens of thousands of people. The Berlin protest is taking place alongside other events around the world for a global day of action. Protests are planned for London, Ottawa, Paris and Zurich.

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“..these types of policies are relatively social at the beginning but they become the most anti-social afterwards..”

German Economy Succumbing to Zombie Companies – Lacalle (SL)

Zombie companies are generally defined as companies that have been in business for at least ten years and whose debt servicing costs have exceeded profits for at least the last three years. Such structurally unprofitable companies, once a rarity, now represent a terrifying 18% of publicly traded companies in the US. The trend is growing in Europe as well, and as Mr. Lacalle warns, endless stimulus, low interest rates, and bailouts in the wake of Covid are exacerbating the phenomenon. The end result is a stifling of innovation, lower long term productivity, and decreased economic mobility. Some excerpts from Daniel Lacalle:

“The (German) government has given enormous levels of subsidies to keep companies that had problems in 2018 and 2019, before the pandemic, to keep them alive…” “Huge transfers of public money go to companies that… don’t allow a certain level of creative destruction, which is very important for progress…. The rise of Zombie Companies, which is a big problem in the European Union, is doing three things: It’s stopping innovation…, consumers end up with worse products and services, and the third problem is that these companies don’t hire and invest more…” “Something that looks quite good as a headline can be extremely damaging for jobs, for growth, and for the future development of the economy… The rise of zombie companies inevitably leads to a financial crisis when those companies inevitably become insolvent…”


“The biggest lesson for the United States is that these types of policies are relatively social at the beginning but they become the most anti-social afterwards when higher unemployment, lower growth, and lower productivity become the norm.” Another problem with larger and larger swaths of the economy being taken over by structurally unprofitable companies is taxes. Companies only pay taxes on profits and with governments running deficits like there is no tomorrow, there is simply no feasible tax plan that will come close to balancing America’s budget deficits. The economy is simply insufficiently productive to support current levels of government spending. Keeping money-losing companies in business only makes the matter worse.

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This can’t help but make me laugh: “He was widely praised for early “Abenomics..” One look at Japan’s debt-to-GDP tells you all you need to know.

End of an Abe Era for Japan

Abe’s political legacy is substantial. After working as cabinet secretary to Prime Minister Junichiro Koizumi, he became prime minister in 2006 but crashed and burned and resigned – officially due to ulcerative colitis – in 2007. He was older, wiser and better advised when he started his second term at the helm in December 2012. In that term, which ended on Friday, he served the longest premiership in Japanese history. In many ways, Abe has overseen a success story. Economically, his inflationary “Abenomics” overcame Japan’s “lost decade” of the 1990s, and socially, as Asia Times recently noted in a review of an Abe biography, the country boasts low unemployment, equal distribution of income, fine infrastructure, minimal public disorder, a low crime rate and low Covid-19 death rates.

Even so, his legacy is mixed. In neighboring countries, he is widely seen as a raging nationalist for his claimed historical revisionism and his moves to empower Japan’s military. However, in terms of trade and tourism, many of his actions in office have been those of an internationalist. He was widely praised for early “Abenomics,” but while its loose monetary and expansionary fiscal policies beat back the deflation that had plagued Japan, it’s “third arrow” – corporate reform – never rose from the deck. He won hosting rights to the Tokyo 2020 Summer Olympics to local acclaim, only to see the multi-billion dollar dream crash amid the pandemic.

Politically, Abe appears to have maintained a balance within the ruling Liberal Democratic Party between its center-right and hard-right elements, and as a result, a true hard-right party has not appeared on Japan’s political scene. There have also been clear failures. Abe talked about “creating a Japan where women can shine,” but according to the World Economic Forum’s annual gender equality ranking, last year Japan placed 121st out of the 153 countries, the worst among G7 economies. Abe has also leaned on media. National broadcaster NHK has been ridiculed as “Abe TV” and Japan’s Freedom Of Press ranking, 22 when he took office, is now 66th. And when it comes to Japan’s biggest national challenge – its ongoing demographic decline – he proved incapable of reversing it.

Abe’s grandfather and a strong personal influence was war criminal Nobuskue Kishi, who was rehabilitated by the US and then became Japan’s prime minister. Many in China and the Koreas, countries which suffered from Japan’s militarism and imperialism in the first half of the 20th century, consider Abe his grandfather’s grandson, a dangerous nationalist. However, he has declined to visit the controversial Yasukuni Shrine since 2013, although his cabinet members, in a sop to Japan’s hard right, have done so. Abe’s oft-stated hopes of rewriting article 9 of Japan’s constitution – a Herculean task – enabling a wider, more expeditionary role for Japan’s Self Defense Forces, came to naught. Even so, during his term, he quietly oversaw the expansion and empowerment of Japan’s military. Notably, the Maritime Self Defense Force took on a far more expeditionary look under his oversight, standing up a marine brigade and green-lighting the conversion of two existing warships into F-35-armed aircraft carriers.

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Aug 282020
 
 August 28, 2020  Posted by at 9:51 am Finance Tagged with: , , , , , , , , , , , , , ,  13 Responses »


Frans Hals Two Laughing Boys with a Mug of Beer 1626 (stolen 3rd time yesterday)

 

Pelosi Says There Shouldn’t Be Any Debates Between Biden And Trump (Hill)
Trump Denounces Riots, Cancel Culture, Failed Political Class In Speech (RT)
61 Million Americans Have Stopped Commuting (ZH)
WHO Skips Wuhan During China Trip; “Sat In Beijing For Three Weeks” (ZH)
US Imposes Sanctions On Russian Institute That Developed COVID19 Vaccine (GZ)
Germany Imposes Fine For All Non-Mask Wearers In New National Crackdown (ZH)
The Fed Policies Have Become Part Of The Problem (ZH)
Subprime Mortgages Fall Massively Delinquent (WS)
Shinzo Abe, Japan’s Longest-Serving PM, Resigns Due To Health Issues (RT)
Laura Ravages Louisiana Coast With Wind Speeds Not Seen In A Century (Hill)

 

 

260,000 reads for yesterday’s Are The Tables Starting To Turn? on Zero Hedge alone so far.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nancy’s 80, and she’s losing again, in her final battle. When saying things like this, she will be seen by many people as a sore loser. Not by those who follow her anyway and anywhere, but by the undecideds. The polls say her party is losing those people. And she’s right, Biden will be hammered, but running away is not a viable option.

Most of all, if you ask me, Biden and Pelosi just look like very old and bitter people. Look at Biden!

Pelosi Says There Shouldn’t Be Any Debates Between Biden And Trump (Hill)

Speaker Nancy Pelosi (D-Calif.) said Thursday she doesn’t think there should be any presidential debates ahead of the November election, arguing Democratic presidential nominee Joe Biden shouldn’t “legitimize” a discussion with President Trump.“I don’t think that there should be any debates,” Pelosi told reporters. “I do not think that the president of the United States has comported himself in a way that anybody has any association with truth, evidence, data and facts.”“I wouldn’t legitimize a conversation with him nor a debate in terms of the presidency of the United States,” she added.


“I think that he’ll probably act in a way that is beneath the dignity of the presidency,” she said, citing what she called his “disgraceful” actions during the 2016 debates with former Secretary of State Hillary Clinton. “He does that every day,” she added. “But I think he will also belittle what the debates are supposed to be about.” Instead, Pelosi proposed that the candidates take separate stages and answer questions about their policies in a “conversation with the American people” instead of “an exercise in skulduggery.” But she acknowledged that the Biden campaign “thinks in a different way about this.”

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Take from RT. I’m pretty sure CNN’s take is slightly different.

Trump Denounces Riots, Cancel Culture, Failed Political Class In Speech (RT)

Speaking at the finale of the Republican National Convention, President Donald Trump doubled down on American exceptionalism and once again painted himself as an outsider fighting the Democrats and the entrenched establishment. The speech went on for over an hour, much longer than Joe Biden’s address a week ago at the Democratic convention. But whereas Biden spoke in an empty auditorium in Milwaukee, Trump spoke outside the White House, in the wilting heat of late summer in Washington, DC – and in front of more than a thousand people. In the absence of a formal party platform, Trump defined the Republican position for 2020 as undoing the damage done by the establishment; defending law and order from mobs and anarchy; fighting ‘cancel culture’ and making American great(er) again.

Though the tone of it was uneven – at times a campaign rally, at other times sounding like a State of the Union – and Trump was visibly running out of steam by the end, the underlying message was crystal clear. Time and again, Trump hammered Biden and the Democrats on the difference between their accomplishments during decades in power, and his over just one term. “We have spent the last four years reversing the damage Joe Biden inflicted over the last 47 years.” Trump painted Biden and the Democrats as globalists beholden to China economically, destroying American jobs and industries, opening the borders and starting endless foreign wars – which he was trying to end.

“How can Joe Biden claim to be an ally of the light, when his own party can’t even keep the lights on?” Trump joked, bringing up last week’s power outages in California – but it was also a dig at the theme of Biden’s speech last week, and the efforts by the media to accuse Republicans of being “dark and divisive.” “At no time before have voters faced a clearer choice between two parties, two visions, two philosophies, or two agendas,” Trump said. “This election will decide whether we save the American dream or whether we allow a socialist agenda to demolish our cherished destiny.” Democrats, Trump argued, see America as a wicked nation that must be punished for its sins, with giving them power as the only path to redemption. Yet Republicans – and most Americans, he argued – look to god for salvation, not politicians.

[..] Throughout, Trump cast himself as the outsider who left behind his comfortable life to battle the “failed political class” in Washington. He has done so with mixed success, dealing with brutal political intrigue, hostile media, endless lawfare, congressional gridlock, the ‘Russiagate’ probe and even an impeachment. But as he himself quipped, pointing to the White House, “we’re here and they’re not.” Even after four years of that, and an hour in the brutal heat of an August evening, Trump seemed ready, even eager, for more. Democrats may have believed the media and the polls to think this election was in the bag, but it isn’t – not by a long shot.

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I’m trying! I am! I’m trying to feel stupid for thinking that it’s great we finally found a way to make people NOT drive a car an hour+ every day that is 20x their weight and uses less than 10% of the energy effectively that moves it forward. I’m trying to feel stupid because, I know, the economy!

61 Million Americans Have Stopped Commuting (ZH)

A new survey from ValuePenguin.com, commissioned by LendingTree, found 61 million Americans have stopped commuting to work due to the virus-induced recession. The reduction of motor vehicles on highways will result in deep economic scarring across the entire economy. “The coronavirus has upended nearly every aspect of life in the United States, and Americans’ driving behavior and commutes are no exception. ValuePenguin surveyed drivers to see how their habits have changed. We found a large number of drivers are no longer commuting to the office, whether because they are working from home or have lost employment due to COVID-19.” -ValuePenguin. The survey found three in 10 respondents with motor vehicles are no longer making the daily commute to work in a post-COVID-19 world:


“About three in 10 consumers with a motor vehicle said they no longer have a commute due to COVID-19, either because they’re working from home (19%) or they temporarily or permanently lost their jobs (10%). On the other hand, 26% are back to their daily commute as of August, including essential workers (17%) and those whose employers reopened their offices (9%). (The remainder don’t have commutes either because they worked from home prior to the pandemic, or they were not working prior to the pandemic.)” -ValuePenguin [..] The decline in travel has resulted in respondents making fewer trips to the gas pump. Almost a third said they’re driving every day, compared to 50% of drivers pre-pandemic. The number of respondents who fill up their tanks every week dropped by 26% in August versus before the pandemic.

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Can we close them down now, finally? I get the point behind having a global health organization, but this is not that point. The WHO should have loudly denounced not being able to access Wuhan a long time ago.

WHO Skips Wuhan During China Trip; “Sat In Beijing For Three Weeks” (ZH)

A delegation from the World Health Organization tasked with investigating the origins of COVID-19 failed to go to Wuhan, China – ‘ground zero’ for the pandemic, and instead “sat in Beijing for three weeks” according to a senior US official, who told the Financial Times that Western governments are skeptical over China’s commitment to identifying the origins of the pandemic. “Any chance of finding a smoking gun is now gone,” the official continued. Though we’re not sure what any team of investigators would find after China blocked international epidemiologists for eight months after the outbreak began. Australian MP Dave Sharma told the Times: “The international community is right to have serious concerns about the rigour and independence of the WHO’s early response to this pandemic, and its seeming wish to avoid offending China.

“If this allegation is proven, it is another disturbing incident of the WHO — which is charged with safeguarding global public health — putting the political sensitivities of a member state above the public health interests of the world, in the critical early stages of this pandemic. We are all now bearing the immense costs of such a policy.” The WHO, meanwhile, says that the three-week visit was ‘merely laying the groundwork in advance of a full international mission,’ but gave no indication when this might happen. “After initially bristling at calls from Australia, the US and other countries for a probe into the outbreak, which has claimed more than 800,000 lives, Chinese president Xi Jinping in May endorsed a WHO-led inquiry.

But the WHO resolution “to identify the zoonotic source of the virus and the route of introduction to the human population” — which was backed by more than 130 countries — has been dogged by concerns over transparency and access.” -Financial Times. “A two-person WHO team has recently concluded its three-week assignment in China to lay the groundwork for an investigation into the source of the virus. This was in advance of the full mission, therefore, there are no ‘results of the WHO’s recent mission’ to share.”” said the UN agency in a statement last week.

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Like Russia cares. But shouldn’t we seek cooperation in things like this?

US Imposes Sanctions On Russian Institute That Developed COVID19 Vaccine (GZ)

The Russian government announced this August that it had registered the world’s first Covid-19 vaccine, called Sputnik V. Sputnik V was developed by the Russian Health Ministry’s Gamaleya Research Institute of Epidemiology and Microbiology. This scientific facility created the vaccine in a joint research project with the Russian Defense Ministry’s 48th Central Research Institute. On August 27, the US Commerce Department imposed sanctions on Russia’s 48th Central Research Institute, blacklisting the scientific body. While Russia took a state-led approach to create a coronavirus vaccine, the Trump administration announced a “public-private partnership” in May.


The program, called “Operation Warp Speed,” saw the US government dole out billions of tax dollars to Big Pharma companies. The Trump administration awarded massive contracts to private corporations like Novavax, Pfizer, and Moderna, while Trump reportedly offered “large sums of money” for exclusive rights to a vaccine being developed by a German firm so it could be sold for profit. But the US public-private partnership was unable to develop a vaccine before foreign countries with government-led research efforts did. Besides Russia, a state-owned Chinese company says its vaccine will be ready by the end of 2020, while Cuba is doing clinical trials for a vaccine of its own.

Read more …

It would really help to know what this mask mandate entails. Does it include people outside? In their own homes? These are important details.

Germany Imposes Fine For All Non-Mask Wearers In New National Crackdown (ZH)

It should surprise nobody that this happens first within the EU. While much of the world takes to mask-wearing more out of a social and health consciousness “most people are on board” type attitude, the government of Germany has announced fines as punishment for people not wearing them. Chancellor Angela Merkel announced during a virtual meeting Thursday with state governors that almost the entire country will be under a 50 euros minimum ($59) fine for breaching the national mask mandate. After the meeting it was announced that all federal states except the east’s Saxony-Anhalt agreed on setting a minimum fine. In her comments Merkel also urged Germans to stay home “wherever it is possible” and avoid traveling to “hot spots” like the United States. Berlin also agreed to impose a strict limiting on gatherings.


Not only have many major public events been canceled outright, but police are enforcing a ban on private parties of more than 25 persons. Large public events will not return until 2021. The new stringent measures including the mask fines go into effect by the end of the day Thursday. This also as most German schools are now back in session, though there’s been a handful of closures due to new coronavirus cases. It’s part of a broader initiative proposed by German health officials to crackdown on people flouting social distancing measures amid the pandemic, even though in recent weeks authorities say coronavirus clusters are due mainly to incoming vacationers. Germany’s confirmed COVID-19 numbers have been on the whole relatively low compared to other Western nations, at about 240,000 out of a population of 83 million.

Read more …

You sure it shouldn’t read they ARE the problem?

The Fed Policies Have Become Part Of The Problem (ZH)

In one of the most overt criticism of the Fed we have read to date, [Rabobank’s Philip] Marey writes that “while the Fed’s step to make the inflation target “more” symmetric may benefit the wages of the average American somewhere beyond 2022, it does not really address the deeper problem with the role the Fed is playing in the US economy. It could be argued that the Fed’s policies have become part of the problem, instead of the solution.” And, as the Rabobank strategist suggests, “at least this should be a topic for debate in the FOMC, instead of talking a whole year about whether to use an average or not.”

To this all we would add is that the Fed should take a long, hard look at its prefered metric of core PCE: as we have repeatedly explained in recent years, the Fed continues to purposefully undercount inflation, and on top of that, it now has openly said it will disregard the politically palatable core PCE/CPI number just so it can continue blowing an asset bubble of epic proportions. It was Marey’s conclusion however that was the piece de resistance:

“The much deeper problem for the US economy is the asymmetric impact of Fed policies on households and businesses. The Fed’s monetary and regulatory policies have contributed to a form of capitalism where the rewards are going to the 1% and the risks are borne by the 99%. The current crisis response has made it painfully clear again that the Fed’s policies benefit high income individuals and large corporations, while small businesses and low income individuals bear the burden. While the Fed likes to see itself as part of the solution to America’s economic problems, it should ask itself whether it is also part of these problems.”

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The amounts of leverage everywhere in the system makes a price decline of 10-20% an absolute catastrophy.

Subprime Mortgages Fall Massively Delinquent (WS)

The Federal Housing Administration (FHA) prides itself in insuring subprime mortgages with, as it says, “low down payments,” “low closing costs,” and “easy credit qualifying” – all true. Of its active portfolio of 8 million mortgages that it insures, 17% were delinquent in July, the highest rate in FHA history. In many metros, the delinquency rates of FHA mortgages are above 20%; and in two metros, the delinquency rates exceed 27%. The delinquency rates include mortgages that were delinquent and then entered a forbearance agreement with the lender, where the lender agreed to not pursue its rights due to nonpayment of the mortgage.

During the term of forbearance – six months, under the CARES Act, extendable by another six months – the borrower isn’t making payments, but the missed interest and principal payments are added to the mortgage balance and will need to be paid somehow. A FICO credit score below 620 is considered “subprime.” The FHA insures mortgages of borrowers with credit scores well below that. • If the borrower has a credit score of at least 580, the FHA will accept down payments of only 3.5%. • If the FICO score is below 580, no problem, but then down payment is 10%. Many of the people whose mortgages the FHA insures have lost their jobs or had had their hours or work reduced. In terms of the lenders, the good thing is that they don’t carry the risk. The FHA and thereby the taxpayer carry the risk.

In terms of the taxpayer, the good thing is that home prices have risen in many markets in recent years, and are rising there right now, and that many fallen-behind homeowners can sell their home and pay off the defaulted mortgage with the proceeds from the sale, and maybe have a little cash left over. And if the home goes into foreclosure because the proceeds wouldn’t have been enough to pay off the mortgage, the losses would be relatively small. The widespread home price declines that occurred during the subprime crisis of Housing Bust have not happened yet. And that’s why at the moment no one is panicking about these sky-high delinquency rates. But when millions of homeowners cannot make the mortgage payments and have to put these millions of homes on the market – forced sellers – they trigger a sudden surge of supply of homes for sale, and the entire supply-and-demand equation, and thereby the pricing environment, are going to change.

Read more …

No more Abenomics would be a plus.

Shinzo Abe, Japan’s Longest-Serving PM, Resigns Due To Health Issues (RT)

Prime Minister Shinzo Abe, who led Japan for eight consecutive years, has said he is stepping down hours after he informed his ruling coalition that he was suffering from health issues. Explaining his decision earlier in the day, Shinzo Abe said he feared the illness would affect his decision-making. “I will not be able to make proper judgments due to illness,” the outgoing premier clarified, as quoted by Kyodo news agency. Abe has been suffering from ulcerative colitis, an inflammatory chronic disease, for many years. The prime minister himself revealed that his condition started to worsen around the middle of the last month, possibly prompting him to consider stepping down.


Moving on, Abe apologized “from the bottom of my heart” to his fellow countrymen, adding that he didn’t want his resignation to cause trouble for Japan’s domestic politics. With his eyes getting misty, the prime minister said it is now up to the Japanese to judge his legacy. He noted that his administration had created four million jobs while keeping the economy going. Meanwhile, local media reported that he will continue to serve as prime minister until a new leader is chosen, thus avoiding the need to appoint an acting premier. Abe’s ruling Liberal Democratic Party (LDP) is reportedly set to arrange a leadership election next Thursday.

Read more …

Seems to have been okay so far?!

Laura Ravages Louisiana Coast With Wind Speeds Not Seen In A Century (Hill)

Hurricane Laura made landfall as a powerful Category 4 hurricane early Thursday morning packing 150 mile-per-hour winds and bringing a storm surge with the potential to inundate coastal areas of western Louisiana to the Texas border with up to 20 feet of water. Laura made landfall around 1 a.m. near Cameron, La. The 400-person community is more than 30 miles east of the Texas border. Around 7 a.m. CDT, the storm was centered near Leesville, La., roughly 100 miles north of the Gulf Coast. The storm ties with a hurricane from more than 160 years ago as the strongest storm to hit the region. A hurricane called “Last Island” made landfall in Louisiana as a Category 4 storm with 150 mph winds in 1856, according to CNN.


Laura weakened to a Category 2 hurricane after making landfall but still packs sustained winds of more than 100 mph and will continue to produce heavy rain and flash flooding that are not expected to recede for several days. Government officials had warned people to find safety and get out of harm’s way as the storm approached. More 500,000 people in the storm’s path in coastal Texas and Louisiana were under evacuation orders, although as many as 150 people in Cameron Parish, where the hurricane came ashore, ignored the orders and were unreachable as of Thursday morning, according to The Associated Press. “This is a time for all of us to be praying for the best, while we’re prepared for the worst. God bless you and your families,” Louisiana Gov. John Bel Edwards (D) tweeted just before the storm made landfall.

Read more …

 

 

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Aug 272020
 
 August 27, 2020  Posted by at 1:16 pm Finance Tagged with: , , , , , , , , , , , ,  9 Responses »


Leon Levinstein Head of Man with Hat and Cigar c1960

 

 

A Pew Research Center poll that’s already a month old (and a lot happened since) concluded that violent crime is a major issue according to 59% of voters (almost as much as coronavirus): 74% of Republicans and 46% of Democrats. But during the DNC, held after the poll was already out, the issue wasn’t addressed at all. Democrats talked about police violence, but not riot violence.

At this week’s RNC, this situation is -of course- very different. The DNC pushes the GOP into the role of the party of law and order, and they’re all too willing to take up that role. But I was wondering about something else, or “bigger”, this morning. That is, Joe Biden et al are very light on policies, because in their view their most important issue is to get people to vote *against* Donald Trump, rather than *for* Biden.

And I’m thinking maybe that’s starting to boomerang, to blow up in their faces, whether perhaps people are beginning to lean towards NOT voting for Joe Biden, instead of NOT voting for Donald Trump, “at any cost”. In that context, it appears telling that according to a new Reuters/Ipsos poll, Biden saw no “convention poll bounce” in his numbers after the DNC, while ironically, Trump did.

Whereas according to a Zogby Analytics poll, Trump’s job approval numbers are now at record high levels. And I know polls -and pollsters- can be biased, and so can the press quoting them, but to see three in a row, Reuters/Ipsos, Rasmussen, Zogby, all reporting similar movement, may still be significant.

Trump Job Approval Rating Hits Record At 52%

Buoyed by blacks and independent voters, as well as urban dwellers shocked by the Black Lives Matter protest violence raging in some cities, President Trump’s approval rating has hit a new high, according to a survey heavy with minority voters. The latest Zogby Analytics poll just shared with Secrets had Trump’s approval at 52%. “The president has recorded his best job approval rating on record,” said pollster Jonathan Zogby.


What’s more, his approval rating among minorities was solid and, in the case of African Americans, shockingly high. Zogby said 36% of blacks approve of the president, as do 37% of Hispanics and 35% of Asians. Approval among independent voters is also up, to 44%. And “intriguingly,” said Zogby, 23% of Democrats approve of Trump.

It was the latest to show that Trump’s approval went up during the Democratic National Convention. Rasmussen Reports had it at 51% at the end of the convention. In a shock from past election years, Joe Biden got no convention poll bounce, according to a newly released Reuters/Ipsos poll. [..] Zogby, in his analysis, took a stab at the reasoning. First, he said, his and other polls are confirming that the nation is nearly evenly divided politically and that despite some showing a big Biden lead, the race is extremely close.


He suggested that the battle is for the “10%-20%” who haven’t made their minds up on whom to vote for and who likely won’t make up their minds until Election Day, just like in 2016. “We are as polarized a nation, on a level not seen since the Civil War,” said Zogby. He also said that the violence playing out in cities such as Kenosha, Wisconsin, and Portland, Oregon, are pushing urban voters to Trump.

A fresh Rasmussen poll about Biden’s lead in the polls (which reached double digits not long ago), indicates that there’s not much left of that lead. That, but the way, is similar to a CNN poll a number of weeks ago. Significantly, Rasmussen suggests that: Even if Biden’s now-slim lead in the polls were to remain frozen as of today, Trump would still have a clear path to an electoral college victory.

Biden’s Polling Lead Has Collapsed

Just a month and a half ago, Rasmussen Reports had Joe Biden 10-points ahead of President Donald Trump in the polls. Now he’s only ahead by one point, within the margin of error. Even if Biden’s now-slim lead in the polls were to remain frozen as of today, Trump would still have a clear path to an electoral college victory, as Hillary Clinton lead Trump in the popular vote by just over two points in the 2016 election. While it is impossible to know the exact reason (or reasons) for Biden’s polling collapse, it comes as the economy continues to rebound from the coronavirus, riots continue to ravage liberal run cities longer than anyone expected (to no condemnation from Joe Biden and Kamala Harris)..


[..] Rasmussen was among the closest mainstream pollster in approximating the popular vote in the 2016 election. Rasmussen had Hillary Clinton up 1.7 points over Trump on election day 2016, while she ended up winning the popular vote by 2.1 points above him (48.2% vs. 46.1%). The Real Clear Politics average of polls had Hillary up for six points. Unlike the other polls, Rasmussen correctly saw Trump had a path to victory in the electoral college.

Rasmussen

 

And of course Don Lemon warned yesterday on CNN that Biden has to start addressing the riots, because by remaining silent he’s letting Trump run away with the issue. But it’s not entirely clear how Biden would do that: the Democrats have supported BLM and protesters -as well as rioters- in general for most of the year, and now they would have to turn against them?

The sports boycotts that yesterday came seemingly out of nowhere all at the same time, look like they’re well intentioned but too late. There is too much news, and there are too many videos, out there to keep portraying what’s happening in the streets of Kenosha and Minneapolis and many other cities, as a one-sided problem. There is violence on both, or even many, sides.

Tonight, Thursday August 27, it’s Donald Trump’s turn to address the RNC, and the entire press, the entire nation, will pay attention. Nobody feels they can afford not to. Almost half the country will already have their minds made up about what a terrible person he is, while the other almost half will think he’s doing great. It’s the “10%-20%” who haven’t made their minds up that he must reach, and given how the country feels about violence in the streets, he may well succeed in reaching quite a few.

For which he can thank the DNC. “Orange Man Bad” may have once looked to be a winning strategy, but by now it feels mostly a limiting one.

 

 

 

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