Jul 212019
 
 July 21, 2019  Posted by at 9:28 am Finance Tagged with: , , , , , , , , , ,  


Buzz Aldrin photographed by Neil Armstrong, who’s reflected in his visor

 

 

The Ham of Fate (Fintan O’Toole)
Brexit, or Project Fear (Lis)
The Story Began With UK’s Seizure Of Iranian-Flagged Ship In Gibraltar (O.)
Bolton Lured Britain Into A Dangerous Trap To Punish Iran (G.)
British Letter to UN Says Iran Approached Tanker In Omani Waters (R.)
Britain Mulls Sanctions In Response To Iran Tanker Seizure (R.)
UK Too Weak To Address Strategic Threats, Warns MP Committee (O.)
Twitter Blocks Accounts Of Iranian State Media Outlets (AFP)
Mueller Should Be Arrested For Conspiracy To Overthrow Trump (PCR)
Are Libertarians the New Neocons? (Daniel McAdams)
War Profiteers and the Demise of the US Military-Industrial Complex (Orlov)
Final Voyage (Kunstler)

 

 

A lot about Britain today, with a new PM being announced on Tuesday and taking over from Theresa May on Wednesday. And that at a point in time when the country has committed its biggest international blunder in years (though competition’s stiff) with the seizure of an Iranian oil tanker two weeks ago.

The Ham of Fate (Fintan O’Toole)

The Leave campaign that Johnson led to a stunning victory in the Brexit referendum of June 2016 owed much of its success to its carefully calibrated slogan “Take Back Control.” Akrasia, which is discussed in depth by Socrates, Plato, and especially Aristotle in the Nicomachean Ethics, is the contrary of control. It means literally “not being in command of oneself” and is translated variously as “weakness of will,” “incontinence,” and “loss of self-control.” To Aristotle, an akratic is a person who knows the right thing to do but can’t help doing the opposite. This is not just, as he himself seems to have intuited, Boris Johnson to a tee. It is also the reason why he embodies more than anyone else a Brexit project in which the very people who promised to take back control are utterly incapable of exercising it, even over themselves.

To grasp how Johnson’s akratic character has brought his country to a state approaching anarchy, it is necessary to return to the days immediately before February 21, 2016, when he announced to an expectant throng of journalists that he would support the Leave campaign. This was a crucial moment—polls have since shown that, in what turned out to be a very close-run referendum, Boris, as the mayor of London had branded himself, had a greater influence on voters than anyone else. “Character is destiny, said the Greeks, and I agree,” writes Johnson in The Churchill Factor, his 2014 book about Winston Churchill, which carries the telling subtitle “How One Man Made History.”

While the book shows Johnson to be a true believer in the Great Man theory of history, his own moment of destiny plays it out as farce, the fate of a nation turning not on Churchillian resolution but on Johnsonian indecision. For Johnson was, in his own words, “veering all over the place like a shopping trolley.” On Saturday, February 20, he texted Prime Minister David Cameron to say he was going to advocate for Brexit. A few hours later, he texted again to say that he might change his mind and back Remain. Sometime between then and the following day, he wrote at least two different columns for the Daily Telegraph—his deadline was looming, so he wrote one passionately arguing for Leave and one arguing that the cost of Brexit would be too high. (Asked once if he had any convictions, Johnson replied, “Only one—for speeding…”)

Read more …

Nothing wrong with leaving the EU, but everything wrong with how it’s been executed.

Brexit, or Project Fear (Lis)

If, during the 2016 referendum campaign, you had told voters that MPs would be scrambling to stop the prime minister shutting down the legislature in order to force through food shortages, mass job losses and a crash in the pound, someone might have needed to change the slogan on the side of that bus. What is happening right now in Britain goes beyond any previously conceivable limits of responsible or accountable governance. Viewed against the country which seemed to exist just a few years ago, it is quite literally unbelievable. It’s not just that Brexit is a case of “I told you so”: the harm to our national political fabric has been more catastrophic than even the most pessimistic Remainer could have contemplated.

Britain is now heading into immediate, unabated crisis, but the consequences could last for years or even decades. Even the most conservative estimates suggest damage to our economy in all circumstances if we leave, contrary to everything campaigners promised. The neutral Office for Budget Responsibility this week forecast a significant recession in the event of no-deal. But the economic damage will almost certainly take less time to repair than the damage to our politics and society. What was billed as a way for people to take back control of democracy has become a systematic attack on every institution which underpins it.

First the Brexiters came for political opponents. Any prominent Remainer who dared question the legitimacy of the referendum or, heaven forbid, suggested a new one in the light of changed circumstances, was branded a traitor, an enemy of democracy, an elitist, a Remoaner, someone who wanted to subvert the will of the people, someone who knew best, someone who hated Britain. It was devastatingly effective. Brexit’s leaders rapidly and comprehensively refigured democratic opposition as opposition to democracy. All potential opponents, particularly in parliament itself, were cowed into affirming “respect for the result.” It became a standard vow of allegiance to a movement they knew to be disastrous, and they had little choice but to make it.

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“The legality of the UK seizure of a tanker heading for Syria with oil from Iran intrigues me. One refers to EU sanctions against Syria, but Iran is not a member of the EU. And the EU as a principle doesn’t impose its sanctions on others. That’s what the US does.”

The Story Began With UK’s Seizure Of Iranian-Flagged Ship In Gibraltar (O.)

The morning after a group of 30 Royal Marines helped seize the Iranian-flagged Grace 1 in Gibraltar, tired Foreign Office officials did not look exactly jubilant. There was not exactly a sense of foreboding, but diplomats were aware of the wider bilateral consequences for British-Iranian relations. Now, with the capture of a British-owned oil tanker in the Gulf, some of their worst fears have been realised. The Stena Impero and its crew of more than 20 are now in the hands of the Iranian Revolutionary Guards – and the UK has been shown to be unable to protect British shipping going through the waterways of the strait of Hormuz.

The British insist that they only impounded Grace 1 due its suspected destination – a port in Syria – not due to the fact that the ship was carrying Iranian oil. European Union sanctions against the regime of Bashir al Assad regime were there to be enforced and international law upheld, the British argued. There seemed little doubt, given its circuitous route, that the ship was bound for Syria. Yet there were some oddities to the British decision. Few previous shipments of oil to Syria have been impounded. The Spanish claim that the British acted under the instruction of the Americans. The Trump administration is trying to freeze all Iranian oil exports as part of its policy of maximum economic sanctions designed to force the Iranians to reopen talks on the nuclear deal signed in 2015.

But Britain opposes that US policy, arguing that it is counterproductive and only likely to strengthen the hands of hardliners in Tehran. Carl Bildt, the former Swedish prime minister and co-chair of the European council on foreign relations, pinpointed the ambiguities of the British action in Gibraltar: “The legality of the UK seizure of a tanker heading for Syria with oil from Iran intrigues me. One refers to EU sanctions against Syria, but Iran is not a member of the EU. And the EU as a principle doesn’t impose its sanctions on others. That’s what the US does.”

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He didn’t lure Britain, but a handful of intellectually challenged posh kids. And anyway it’s far too easy to blame this on Bolton. They did it themselves, May and Hunt et al.

Bolton Lured Britain Into A Dangerous Trap To Punish Iran (G.)

John Bolton, White House national security adviser and notorious Iraq-era hawk, is a man on a mission. Given broad latitude over policy by Donald Trump, he is widely held to be driving the US confrontation with Iran. And in his passionate bid to tame Tehran, Bolton cares little who gets hurt – even if collateral damage includes a close ally such as Britain. So when Bolton heard British Royal Marines had seized an Iranian oil tanker off Gibraltar on America’s Independence Day, his joy was unconfined. “Excellent news: UK has detained the supertanker Grace I laden with Iranian oil bound for Syria in violation of EU sanctions,” he exulted on Twitter. Bolton’s delighted reaction suggested the seizure was a surprise.


But accumulating evidence suggests the opposite is true, and that Bolton’s national security team was directly involved in manufacturing the Gibraltar incident. The suspicion is that Conservative politicians, distracted by picking a new prime minister, jockeying for power, and preoccupied with Brexit, stumbled into an American trap. In short, it seems, Britain was set up. The consequences of the Gibraltar affair are only now becoming clear. The seizure of Grace I led directly to Friday’s capture by Iran’s Revolutionary Guards of a British tanker, the Stena Impero, in the Strait of Hormuz. Although it has not made an explicit link, Iran had previously vowed to retaliate for Britain’s Gibraltar “piracy”. Now it has its revenge.

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I’m pretty sure that’s not true, but it doesn’t matter. Moreover, Spain says Gibraltar is not British either.

British Letter to UN Says Iran Approached Tanker In Omani Waters (R.)

Britain told the United Nations Security Council on Saturday that a British-flagged tanker seized by Iran was approached by Iranian forces when it was in Omani territorial waters and the action “constitutes illegal interference.” “The ship was exercising the lawful right of transit passage in an international strait as provided for under international law,” Britain’s U.N. mission wrote to the Security Council. “International law requires that the right of transit passage shall not be impeded, and therefore the Iranian action constitutes illegal interference.” The letter, seen by Reuters, was also sent to U.N. Secretary-General Antonio Guterres.


Friday’s action in the global oil trade’s most important waterway has been viewed in the West as a major escalation after three months of confrontation that has already taken Iran and the United States to the brink of war. It follows threats from Tehran to retaliate for Britain’s seizure on July 4 of the Iranian tanker Grace 1, accused of violating sanctions on Syria. “Current tensions are extremely concerning, and our priority is to de-escalate. We do not seek confrontation with Iran,” the letter read. “But it is unacceptable and highly escalatory to threaten shipping going about its legitimate business through internationally recognized transit corridors.” Britain called on Iran to release the Stena Impero tanker and told the Security Council it was working to resolve the issue through diplomatic means.

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Ha ha. You mean there are sanctions that haven’t been applied yet?

Britain Mulls Sanctions In Response To Iran Tanker Seizure (R.)

British ministers are making plans aimed at targeting Iran with sanctions in the aftermath of the Iranian seizure of a British-flagged oil tanker in the Gulf, the Daily Telegraph newspaper reported. British Foreign Secretary Jeremy Hunt is expected to announce on Sunday diplomatic and economic measures, including potential asset freezes, as a response to the incident, according to the report. Britain could push for United Nations and European Union sanctions to be reimposed on Iran after they had been lifted in 2016 following a deal on Iran’s nuclear program, the Telegraph reported.

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This is about weaponry, but I’d suggest the UK is mentally too weak.

UK Too Weak To Address Strategic Threats, Warns MP Committee (O.)

The government has repeatedly failed to invest in defence and security, leaving the UK struggling to cope with emerging threats, an influential parliamentary committee was due to warn on Sunday in a report thrown into sharp relief by the developing crisis in the Persian Gulf. The Joint Committee on the National Security Strategy says the next prime minister will have to tackle major challenges – from growing strains on the UK’s relationship with the US and the EU, to the rise of China – if the UK is to meet its defence ambitions.

“If the Government wants to turn the ‘Global Britain’ concept into a meaningful strategy for a positive and self-assured role for the UK after its departure from the EU, then it needs to be more honest about how it proposes to address these challenges,” said the committee chair, Margaret Beckett MP. “It must also back this up with the necessary funding and resources, especially for defence and diplomacy.”

The report’s publication comes after the former chief of defence staff, Lord Richards, warned that the Royal Navy was “just too small to have a significant effect without being with allies”. Speaking in response to the seizure of a British-flagged oil tanker by Iranian authorities, Richards told BBC radio’s Today programme: “The fact is, for whatever reason, our government has invested relatively little against the threat and the risks that we face, particularly more and more in the longer term.” The former first sea lord, Lord West of Spithead, told Sky News that the navy had “too few ships” to escort merchant vessels in dangerous waters.

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@Jack has gone into politics. Bad move.

Twitter Blocks Accounts Of Iranian State Media Outlets (AFP)

A day after Twitter suspended the accounts of several Iranian state media outlets, the social networking service said Saturday it acted after harassment of people linked to the Baha’i faith. Amid soaring tensions in the region, heightened by Iran’s seizure on Friday of a British-flagged tanker, some of the affected media outlets had speculated that the suspensions were related to their coverage of the seizure. But Twitter cited what it said was the coordinated and targeted harassment of people linked to the Baha’i faith, a religious minority that has long faced persecution in Iran. It did not name the suspended accounts, and said it was continuing to investigate the matter.


“Account suspended. Twitter suspends accounts which violate the Twitter Rules,” read English-language messages on each of the Iranian media outlets’ accounts. Mehr news agency, which is close to moderate conservatives in Iran, said its Farsi-language account appeared to have been blocked late Friday following its reports on the seizure of the tanker Stena Impero in the strategic Strait of Hormuz. Iran’s Revolutionary Guard said it seized the Swedish-owned tanker for breaking “international maritime rules” in the strait, a chokepoint for around a third of the world’s sea-borne oil. Mehr’s Farsi-language Twitter page was inaccessible on Saturday, along with those of the official IRNA news agency and the agency of the Young Journalists’ Club.

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Wednesday July 24, big day: Boris becomes British PM and Bob Mueller’s circus comes to town.

Mueller Should Be Arrested For Conspiracy To Overthrow Trump (PCR)

The Mueller report, which had no choice as there was no evidence, but to clear Donald Trump of conspiring with Russian President Putin to steal the last US presidential election from Hillary Clinton, nevertheless managed to keep an aspect of the manufactured hoax known as “Russiagate” alive by indicting some Russian intelligence officers and a Russian Internet clickbait operation for attempting to discredit Hillary with Internet postings. At the time I noticed that Muller’s indictments were based only on his assertion and not on any evidence. As there was no prospect whatsoever of the fake indictments coming to trial, I did not comment on them. I focused instead on Mueller’s statement that Trump might have obstructed justice although he lacked evidence to support the charge.


I noted how corrupt American law has become when it is possible to obstruct justice in the absence of a crime. Democrats and presstitutes were determined to get Trump by any means and remain uninterested in how justice is obstructed when there is no crime. In retrospect, not picking up on Mueller’s indictment-by-hearsay of Russians was a mistake. Not only have the Democrats continued their Russiagate campaign on the basis of the unsubstantiated indictments, but, more importantly, the indictments-by-assertion-alone show Mueller’s total lack of moral character. A prosecutor, indeed a former Director of the FBI, who confuses his unsubstantiated allegation with evidence, is not only a person devoid of any respect for law, but also an extremely dangerous person to have been vetted for the high government positions that he has held.

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Or is that the Liberals?

Are Libertarians the New Neocons? (Daniel McAdams)

There is a disturbing trend in some libertarian circles and among some libertarian organizations to be increasingly enamored with foreign interventionism and US government backed regime change overseas. For those focused on foreign affairs, this is particularly troubling as it is abandoning a key tenet of libertarianism: non-interventionism. Not “your government 6,000 miles away must be changed… but I don’t support the US military doing it.” That is not non-interventionism. Non-interventionism is accepting that others may wish to live in a way you may not approve of. Non-interventionism in your neighbor’s affairs – whether he enjoys reading the Bible or lighting up a marijuana cigarette (or maybe both) – is really the sine qua non of the libertarian mindset: “aint nobody’s business if you do.”

You do not aggress against your neighbor just because you disagree with his life choices that do not infringe on your person or property and you extrapolate that dynamic to where you demand that to the highest extent possible your local, state, and federal governments treat you as you would treat your neighbor. The idea that this critical impulse somehow becomes null and void when it comes to international affairs is truly bizarre. In fact many self-described libertarians full-throatedly cheer when people are in the streets thousands of miles away trying to overthrow their governments. Somehow from this far distant vantage point they are just convinced that the mythical “free state” is about to break out somewhere.

And when someone points out that the semi-hidden hand behind these uprisings is the US government, which seeks to create overseas governments of subservient elites to prop up the (anti-libertarian) US empire, they accuse that person of being an extremist or a conspiracy theorist…or they get really lazy and stupid and just claim you are a “supporter” of the dictator of the day. So, many US libertarians (who knew next to nothing about Venezuela) demanded our support for that great “libertarian” liberator of Venezuela, Juan Guaido, who turned out to be just another crook with zero support from Venezuelans (but a lot of support from the CIA!).

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Dmitry, from a Russian perspective, shining his light on what I’ve repeatedly said: the US makes weapons for profit, Russia makes them to defend itself (from US weapons).

War Profiteers and the Demise of the US Military-Industrial Complex (Orlov)

Within the vast bureaucratic sprawl of the Pentagon there is a group in charge of monitoring the general state of the military-industrial complex and its continued ability to fulfill the requirements of the national defense strategy. Office for acquisition and sustainment and office for industrial policy spends some $100,000 a year producing an Annual Report to Congress. It is available to the general public. It is even available to the general public in Russia, and Russian experts had a really good time poring over it. In fact, it filled them with optimism. You see, Russia wants peace but the US seems to want war and keeps making threatening gestures against a longish list of countries that refuse to do its bidding or simply don’t share its “universal values.”

But now it turns out that threats (and the increasingly toothless economic sanctions) are pretty much all that the US is still capable of dishing out—this in spite of absolutely astronomical levels of defense spending. Let’s see what the US military-industrial complex looks like through a Russian lens. It is important to note that the report’s authors were not aiming to force legislators to finance some specific project. This makes it more valuable than numerous other sources, whose authors’ main objective was to belly up to the federal feeding trough, and which therefore tend to be light on facts and heavy on hype. No doubt, politics still played a part in how various details are portrayed, but there seems to be a limit to the number of problems its authors can airbrush out of the picture and still do a reasonable job in analyzing the situation and in formulating their recommendations.

What knocked Russian analysis over with a feather is the fact that these INDPOL experts (who, like the rest of the US DOD, love acronyms) evaluate the US military-industrial complex from a… market-based perspective! You see, the Russian military-industrial complex is fully owned by the Russian government and works exclusively in its interests; anything else would be considered treason. But the US military-industrial complex is evaluated based on its… profitability! According to INDPOL, it must not only produce products for the military but also acquire market share in the global weapons trade and, perhaps most importantly, maximize profitability for private investors. By this standard, it is doing well: for 2017 the gross margin (EBITDA) for US defense contractors ranged from 15 to 17%, and some subcontractors—Transdigm, for example—managed to deliver no less than 42-45%. “Ah!” cry the Russian experts, “We’ve found the problem! The Americans have legalized war profiteering!”

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“I doubt the former Special Counsel will ever sit in that hot-seat.”

Final Voyage (Kunstler)

[..] the party’s pathetic attempt to revive the walking dead narrative of RussiaGate is not working too well down on Jerold Nadler’s House Judiciary Committee. The chairman apparently discovered that his star witness, Robert Mueller, might have to answer some embarrassing questions about the conduct of his investigation — like, why did it go on for two years when his chief deputy, Mr. Weissmann, was informed from the get-go that the main predicate document was a fraud? So, Mr. Mueller’s turn in the witness chair keeps getting postponed clear into the August recess. I doubt the former Special Counsel will ever sit in that hot-seat. If I was him, I sure wouldn’t do it voluntarily. Oh, did anyone notice the House staged an impeachment vote on Wednesday? It flopped too.


Finally, there is the walking time-bomb known as Jeffrey Epstein, Democratic Party poohbah and impresario of an underage sex racket featuring the “Lolita Express” airplane service to his private “Orgy Island” in the Caribbean, with auxiliary party shacks in New York City and the New Mexico Desert. Rogue reports have been styling Epstein’s doings as an international blackmailing operation associated with the CIA and other Intel outfits, including the UK’s MI6 and Israel’s Mossad, for the purpose of keeping international bigshots on a short leash. Who knows? At the center of it all is former President Bill Clinton, listed twenty-six times on the Lolita Express’s flight manifest — though the ex-Prez said last week in a statement that it was only four times. (Consider the source.) A raft of unsealed documents in the matter has been court-ordered to drop any day, and power-players all over the world — especially in our nation’s capital and on Wall Street — are rumored to be chewing their fingernails down to the nubbins as they wait for it.

Read more …

 

 

 

 

 

Jul 072019
 
 July 7, 2019  Posted by at 9:12 am Finance Tagged with: , , , , , , , , , , ,  


Pablo Picasso Guernica [Study] 1937

 

Trump Administration Is ‘Inept And Insecure’ – UK Ambassador (BBC)
Trump Couldn’t Ignore Contradictions of His Foreign Policy Any Longer (Atl.)
China Looks At Britain And Sees Only Weakness And Hypocrisy (O.)
Deutsche To Fire 20,000, Bad Bank Soars To €80BN, 5x DB’s Market Cap (ZH)
Iran To Lift Uranium Enrichment To 5%, Above Level In 2015 Deal |(R.)
Macron Warns Rouhani Of Consequences If Nuclear Deal Weakened (R.)
Bought Politicians (Craig Murray)
China Station Next Target For Hong Kong Protesters (AFP)
UN Chief Bachelet’s Venezuela Report Follows US Regime Change Script (GZ)
Second Migrant Rescue Boat Defies Salvini And Docks In Italy (AFP)
Sea-Watch Captain To Sue Italian Minister Salvini For Defamation (ToM)
Greeks Vote In Snap General Election (BBC)

 

 

This guy sends secret notes calling the US government ‘inept’, to his own government which is what exactly?

Does he do this because he knows they will love to forget their own incompetence?

And do I detect a sense of regret that Trump was “never fully on board” with the Iran bombings?

Trump Administration Is ‘Inept And Insecure’ – UK Ambassador (BBC)

The Trump administration has been labelled “inept”, insecure and incompetent in leaked emails from the UK ambassador to Washington. Sir Kim Darroch said that the White House was “uniquely dysfunctional” and “divided” under Donald Trump. But he also warned that the US president should not be written off. The Foreign Office said the leak of the memos to the Mail on Sunday was “mischievous” but did not deny their accuracy. The White House has not yet responded to the revelation of the contents of the memos, but it could test the so-called “special relationship” between the US and UK.

In the messages, Sir Kim said: “We don’t really believe this administration is going to become substantially more normal; less dysfunctional; less unpredictable; less faction-riven; less diplomatically clumsy and inept.” He questioned whether this White House “will ever look competent”. Although Sir Kim said Trump was “dazzled” by his state visit to the UK in June, the ambassador warns that his administration will remain self-interested, adding: “This is still the land of America First”.

Differences between the US and the UK on climate change, media freedoms and the death penalty might come to the fore as the countries seek to improve trading relations after Brexit, the memos said. To get through to the president, “you need to make your points simple, even blunt”, he said. In a message sent last month, Sir Kim branded US policy on Iran as “incoherent, chaotic”. Mr Trump’s publicly stated reason for calling off an airstrike against Tehran with 10 minutes to go – that it would cause 150 casualties – “doesn’t stand up”, Sir Kim said. Instead, he suggested the president was “never fully on board” and did not want to reverse his campaign promise not to involve the US in foreign conflicts.

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Everyone wants Bolton to stay in Outer Mongolia.

Trump Couldn’t Ignore Contradictions of His Foreign Policy Any Longer (Atl.)

As during the previous twist in the narrative, Trump now finds himself with a national-security team out of sync with his preferences. Changes are inevitable. Pompeo will likely survive. He is nothing if not adaptable. After the Iran decision, he and Vice President Mike Pence let it be known that although they supported military action, they were equally enthusiastic about the president’s U-turn. It’s hard to see how Bolton can stay. Trump has long known that Bolton wants war more than he does. He sidelined him on North Korea and overruled him on Iran. For his part, Bolton has privately attacked Pompeo, long a Trump favorite, as falling captive to the State Department bureaucracy and has predicted that the North Korea policy will fail.

Bolton has given an unusually large number of interviews to reporters and has been rewarded with positive profiles lauding his influence and bureaucratic prowess. Those of us who predicted that he would cling to the post of national security adviser, as it would be the last job he’d ever get, may have been wrong. In fact, Bolton looks and sounds as if he is preparing to exit on his own terms. Better that than being sent on a never-ending tour of the world’s most obscure places. For Bolton, leaving because he’s too tough for Trump is the perfect way to save face. Otherwise, he may be remembered as the man who presided over one of the weakest national-security teams in modern American history and someone whose myopic obsessions—such as international treaties and communism in Venezuela—meant the United States lost precious time in preparing for the national-security challenges of the future.

Who will replace Bolton is unclear. The best-case scenario would be Biegun, the North Korea envoy. He was rumored to be the runner-up to Bolton for the post in 2018. (Mattis and Kelly pushed for him, although at that point he had not spent time with Trump. Now he has.) Trump may see him as the man to oversee his various negotiations, as he has on North Korea. But will Trump go for a mainstream figure who would not be out of place in a traditional Republican presidency?

If the past is prelude, Trump may turn instead to his favorite source of information, Fox News, just as he did for Bolton. One of Tucker Carlson’s frequent guests on his show is a retired Army colonel by the name of Douglas Macgregor. Macgregor served in the first Gulf War and appears to be ideologically aligned with Carlson, favoring retrenchment from the Middle East and good relations with authoritarian states. His appointment would be treated as a calamity by the Republican foreign-policy establishment—which is one reason it may appeal to the president.

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The Chinese have not forgotten British atrocities, even if the Brits have.

The UK looks at the US and sees ineptness, while China looks at the UK and sees…

China Looks At Britain And Sees Only Weakness And Hypocrisy (O.)

It’s not all China’s fault. Deep-rooted anger at Britain has its origins in events largely forgotten in London but not in Beijing. It is true, as China says, that postwar colonial Britain showed scant regard for Hong Kong residents’ rights. This indifference was consistent with earlier humiliations heaped on the ruling Qing dynasty by Victorian imperialists – the cause of China’s “lost century”, concluding in 1945. The first Anglo-Chinese opium war, from 1839-42, was supposedly a response to Chinese insults to Britain’s national honour. In truth it was mostly about money and power, about imposing free trade, and about securing a lucrative market for opium exports from British India, regardless of the human cost.

This destabilising intervention opened the gates to other foreign invaders and to decades of revolts, such as the Taiping rebellion, when up to 100 million people may have died. It also foreshadowed an infamous act of cultural vandalism, the burning and looting by British and French forces of the emperor’s wondrous Summer Palace in Beijing in 1860. Its Chinese name was Yuanmingyuan – “garden of perfect brightness”. And it was utterly destroyed. All Chinese schoolchildren are taught this. Hunt deplored Beijing’s trashing of the 1984 Sino-British joint declaration, calling it an affront to the international rules-based order from which China benefits. But such righteous outrage comes awkwardly from a country that waged war in Iraq without legal authority and stays on friendly terms with murderers in Saudi Arabia.

It ignores the lawless history of the pre-1914 “unequal treaties”. Ironically, these old injustices were instrumental in shaping the Chinese communists’ 20th-century anti-imperialist, nationalist ideology – and the party’s insistence on regaining sovereignty over “lost” territories such as Hong Kong, Macau and, prospectively, Taiwan. As was often the case during its empire-building days, Britain sowed the seeds of its ultimate displacement. China’s disdain, bordering on contempt, for Britain’s warnings stems not only from London’s past hypocrisy and historical amnesia, but also from a keen assessment of its current, palpable weakness. Given the gaping power imbalance, Hunt’s threat of unspecified “severe consequences” is all but meaningless.

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Lagarde’s main job at the ECB: keep Deutsche Bank from collapsing. is that what she was hired for?

Deutsche To Fire 20,000, Bad Bank Soars To €80BN, 5x DB’s Market Cap (ZH)

One month ago, Jeff Gundlach – in his latest DoubleLine investor call – cracked jokes that Deutsche Bank’s imploding stock, which has been hitting fresh all time lows virtually every day, had “major support” at €0. Once again, he was on to something because just a few days later, the FT first reported that the bank which was this close to nationalization in 2016, and failed to consummate a merger with that “other” German bank, Commerzbank, was preparing to roll out Plan Z: amid a deep overhaul of its trading operations (read: mass terminations), the biggest German lender was set to roll out a “bad bank” holding some €50 billion in legacy toxic derivative assets, a plan that was quite popular in the depths of the global financial crisis.

As we noted at the time, it would hardly come as a surprise that the German bank best known for housing €43.5 trillion in gross derivatives notional (something we first pointed out way back in 2013) would stuff its “bad bank”, known internally also as “the non-core asset unit”, with – drumroll – long-dated derivatives. More to the point, we said that while this “bad bank” plan was commendable – after all admitting you have a problem is the first step toward recovery – it would fall far short of what is necessary to be ring-fenced from DB’s legacy balance sheet.

Today, Bloomberg confirmed as much when it reported that just two weeks after the original, €50 billion bad bank plan was floated, the German bad bank has already grown by 60%, with about €75 billion “and maybe as much as 80 billion euros of risk-weighted assets will form the basis of bad bank”, a Bloomberg source said. At the higher number, that’s the equivalent of about a quarter of Deutsche’s total balance sheet; it is also more than 5 times the German largest bank’s market cap, suggesting that absent this critical restructuring shape, Europe’s largest bank by assets is now effectively insolvent.

There is one final problem: in the summer of 2016, just a month before fears about the viability of DB sent its stock careening lower and prompting Angela Merkel to discuss whether or not DB will be nationalized, the IMF found that Deutsche Bank is “the bank that poses the greatest risk to the global financial system”: Network analysis suggests a higher degree of outward spillovers from the German banking sector than inward spillovers. In particular, Germany, France, the U.K. and the U.S. have the highest degree of outward spillovers as measured by the average percentage of capital loss of other banking systems due to banking sector shock in the source country. Here is the IMF’s chart showing the key linkages of the world’s riskiest bank:

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The West needs to cooperate with Russia and China on this. There is no other way.

Iran To Lift Uranium Enrichment To 5%, Above Level In 2015 Deal |(R.)

Iran on Sunday will announce an increase in uranium enrichment to 5%, a concentration above the limit set by its 2015 nuclear deal, an Iranian official told Reuters, in a move signaling a deepening challenge to escalating U.S. sanctions pressure. The declaration comes at a time of sharply increased U.S.-Iranian confrontation, a year after Washington quit the pact and reimposed sanctions that had been lifted under the accord in exchange for Tehran curbing its nuclear work. “The main announcement tomorrow will be the increase of the level of enrichment to 5% percent from 3.67% that we agreed under the deal,” the official said on Saturday on condition of anonymity.


In a sign of heightening Western concern, French President Emmanuel Macron said he and Iran’s President Hassan Rouhani had agreed to seek conditions for a resumption of dialogue on the Iranian nuclear question by July 15. Macron’s office added that he would keep on talking with Iranian authorities and other involved parties to “engage in a de-escalation of tensions related to Iranian nuclear issue.” The deal is aimed at extending the time Iran would need to produce a nuclear bomb, if it chose to, to a year from roughly 2-3 months. Iran says its nuclear program is only for peaceful purposes, such as power generation, and not to make bombs.

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And Iran says France should be much more vocal in its defense of Iran and the nuclear deal.

Macron Warns Rouhani Of Consequences If Nuclear Deal Weakened (R.)

French President Emmanuel Macron told his Iranian counterpart on Saturday that he was deeply concerned by any further weakening of the 2015 nuclear deal and warned that consequences would inevitably follow any such move. Macron spoke to Iranian President Hassan Rouhani a day before Iran is set to increase uranium enrichment purity above the limit set by Iran’s deal with world powers. “The president recalled his deep concern in the face of the risk of a new weakening of the 2015 nuclear accord, and the consequences that would necessarily follow,” a statement from the French presidency said. It was unclear exactly what consequences the statement was referring to.


European diplomats have said that further breaches of the accord could see the European parties to the deal – France, Britain and Germany – trigger a dispute resolution mechanism within the accord that could eventually lead to the reimposition of United Nations sanctions. Iran’s expected announcement comes at a time of sharply increased U.S.-Iranian confrontation, a year after Washington quit the pact and reimposed sanctions that had been lifted under the accord in exchange for Tehran’s curbing its nuclear work. The Iranians have demanded that the Europeans do more to save the deal by ensuring Iran gains economic benefits, notably badly needed oil revenue, which the United States has in particular targeted.

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Power for sale.

Bought Politicians (Craig Murray)

Between just 28 May and 10 June Boris Johnson received £235,500 in “private” donations, to himself personally, as he prepares to become the UK’s unelected Prime Minister. The blatant corruption of the UK’s political system is part of the reason for popular alienation from the ruling classes. It was Blair who elevated British politics to US levels of shamelessness in the matter of politicians’ self enrichment, and Johnson looks set to follow the Blair example. While some may pretend to do so, I do not accept that there is anybody who is naive enough genuinely to believe that such donations do not influence politicians’ policy decisions. Straight donations aside, the slightly disguised corruption of our political system should also be taken into account.

The banks put politicians in their pockets not through direct payments, but through massive, often six figure, fees they pay them for “speaking at dinners”. That is how Hillary Clinton garnered much of her Wall Street funding. In the case of Boris Johnson, it is interesting that in the House of Commons Register of Members’ Interests, he frequently lists the name of the speaking agency who paid him, but not who the client was. Another way to pay less obvious bribes – and one particularly pursued by New Labour – was the book deal, where publishers pay massive six figure advances to politicians which are, routinely, up to ten times the actual royalties earned for which they are an “advance”.

This only makes sense when you realise that every single one of the major publishers is owned by a much bigger multinational – for example until recently Murdoch owned HarperCollins. James Reuben, who gave two donations totaling £50,000 to Johnson, is the scion of the UK’s second wealthiest family, worth £18 billion. The Reubens made their money, like Roman Abramovich and Alisher Usmanov, in the pillaging of Russia’s massive metal producing assets, which were physically seized by gangsters, in the chaotic US organised Yeltsin privatisation process. The entire basis of their vast fortune was the exploitation of assets effectively stolen from the Russian state and people.

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Xi is itching to get involved.

China Station Next Target For Hong Kong Protesters (AFP)

Anti-government protesters in Hong Kong plan to rally later Sunday outside a controversial station where high-speed trains depart for the Chinese mainland as they try to keep up pressure on the city’s pro-Beijing leaders. The rally is the first major protest planned since last Monday’s unprecedented storming of parliament by largely young, masked protesters — a move which plunged the international financial hub further into crisis. Hong Kong has been rocked by a month of huge peaceful protests as well as a series of separate violent confrontations with police, sparked by a law that would have allowed extraditions to mainland China.


Recently opened multi-billion-dollar station that links Hong Kong to China’s high-speed rail network (AFP Photo/ANTHONY WALLACE)

The bill has since been postponed in response to the intense backlash but that has done little to quell public anger, which has evolved into a wider movement calling for democratic reforms and a halt to sliding freedoms in the semi-autonomous city. Protesters are demanding the bill be scrapped entirely, an independent inquiry into police use of tear gas and rubber bullets, amnesty for those arrested, and for the city’s unelected leader Carrie Lam to step down. Beijing has thrown its full support behind Lam, calling on Hong Kong police to pursue anyone involved in the parliament storming and other clashes.

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Excellent by Anya Parampil.

UN Chief Bachelet’s Venezuela Report Follows US Regime Change Script (GZ)

When United Nations High Commissioner for Human Rights Michelle Bachelet traveled to Venezuela earlier this year, she met with an array of citizens who lost family members to right-wing violence in the country. [..] Bachelet made no mention of opposition violence in her report. Her failure to properly detail the plight of Venezuelans who have suffered at the hands of anti-government rioters was just one of many glaring omissions which has one of the top international legal experts to have served at the UN calling the high commissioner’s objectivity into question. Alfred de Zayas became the first UN rapporteur to visit Venezuela in 21 years, traveling to the country in 2017 to examine the social and economic impact of unilateral coercive measures applied by the US.

He determined US-led sanctions were largely to blame for the country’s hardship, accusing Washington of waging “economic warfare,” and comparing its harsh measures to “medieval sieges of towns.” De Zayas was no less scathing towards Bachelet’s report, slamming it as a politicized document that depended heavily on unfounded claims by activists dedicated to Maduro’s removal. “The new Bachelet report is methodologically flawed, as were indeed the earlier reports, relying overwhelmingly on unverified allegations by opposition politicians and advocates of regime change who are only interested in weaponizing human rights,” the former special rapporteur told The Grayzone.

[..] Bachelet’s dismissal of the destructive impact of sanctions on the Maduro government overlook years of sustained economic attack on the Venezuelan economy by the most powerful nation on earth. With the Obama administration’s move to declare Venezuela’s government a “national security threat” in March of 2015, Venezuela’s economy and its ability to restructure its debt have been under systematic attack.

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“A poll published in Italy’s Corriere della Sera newspaper on Saturday said 59% of Italians approved of Salvini’s closing ports to NGO vessels. ..”

The silence from Brussels is getting louder.

Second Migrant Rescue Boat Defies Salvini And Docks In Italy (AFP)

A charity rescue vessel brought 41 shipwrecked migrants into port in Lampedusa on Saturday, the second boat to defy far-right interior minister Matteo Salvini’s bid to close Italian ports to them. Mediterranea’s Italian-flagged Alex arrived in port where a strong police presence was waiting for them but everyone remained on board after spending two days with the rescued migrants and asylum-seekers on the sailboat. “In view of the intolerable hygiene conditions aboard, the Alex has declared a state of emergency and is sailing towards Lampedusa, the only possible safe port for landing,” Mediterranea said in a tweet earlier.

Salvini, who leads the Lega party and is also deputy prime minister, last month issued a decree that would bring fines of up to €50,000 (£45,000) for the captain, owner and operator of a vessel “entering Italian territorial waters without authorisation”. Salvini tweeted after the Alex docked that the charity workers were “jackals… will they go unpunished also?” “Law enforcement forces are ready to intervene… in a normal country there would be immediate arrests and the boat would be impounded,” Salvini said in another tweet. Authorities on Lampedusa last week seized another rescue ship belonging to German aid group Sea-Watch after it forced its way into port with dozens of rescued migrants on board and arrested its captain, Carola Rackete.

An Italian judge this week ordered her freed as she had been acting to save lives, a decision that sparked Salvini’s ire but may have encouraged the Alex crew. Two other investigations, on charges of helping people smugglers and resisting the authorities, are still under way after Rackete forced her way past Italian customs vessels. A third rescue ship, German charity Sea-Eye’s vessel Alan Kurdi, carrying 65 shipwrecked migrants rescued off Libya on Saturday, arrived and held its position in international waters off Lampedusa. [..] A poll published in Italy’s Corriere della Sera newspaper on Saturday said 59% of Italians approved of Salvini’s closing ports to NGO vessels.

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“Rackete has gone into hiding following numerous threats..”

Sea-Watch Captain To Sue Italian Minister Salvini For Defamation (ToM)

The captain of detained migrant rescue ship Sea-Watch 3, Carola Rackete, will sue Matteo Salvini for defamation after a tirade of insults from Italy’s far-right interior minister, her lawyer said Friday. “We have prepared the legal complaint against minister Salvini,” Alessandro Gamberini told Italian radio, saying “it’s not easy to make a complete list of all the insults Salvini has made these last weeks.” Salvini, who is also deputy prime minister and an admirer of US President Donald Trump, is an avid user of social media, which he also uses to insult people he disagrees with. Salvini “stirs the troubled waters of hate. A defamation lawsuit is a way to send a signal,” the lawyer said, prompting a swift and angry response from the Lega minister.

“She breaks laws and attacks Italian military vessels, and then she sues me,” the anti-migrant Salvini tweeted. “I’m not afraid of the Mafia, let alone a rich and spoiled communist!” Italian police last week arrested Rackete, 31, after she defied orders to stay away and forced her way into port on Italy’s southern Lampedusa island to disembark 40 rescued migrants who had been stuck at sea on her vessel for two weeks. An Italian judge this week ordered her freed as she had been acting to save lives, a decision which also sparked Salvini’s ire. Two other investigations, on charges of helping people smugglers and resisting the authorities are still underway after she forced her way past Italian customs vessels.

During the two week standoff and after Salvini launched a series of furious tweets at the charity worker, including calling her a “pain in the arse”, “criminal”, “delinquent” and “poor woman who only tried to kill five Italian soldiers.” Rackete has gone into hiding following numerous threats, her charity Sea-Watch said Wednesday, a day after her release from Italian custody.

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I see a lot of outright stupid takes on this, as in Greeks turn their backs on populism. In reality, Tsipras is losing big only because he failed to deliver what he promised. Now an old right wing party named New Democracy with a leader who belongs to an actual political dynasty (!) will take over, and things will get even worse for the poor. I’m also afraid of violence in the streets.

Greeks Vote In Snap General Election (BBC)

Greeks are going to the polls to elect a new parliament, with the centre-right opposition mounting a strong challenge to the leftist government. The New Democracy party of Kyriakos Mitsotakis is hoping to end more than four years of rule by Prime Minister Alexis Tsipras’s Syriza party. Mr Tsipras called snap elections soon after suffering an electoral defeat in May’s European elections. The crisis triggered a succession of financial bailouts, with the Greek economy shrinking by 28% between 2008 and 2016, and increasing unemployment has thrown many Greeks into poverty. Greece exited the bailout programme in August of last year and growth has returned.

Mr Mitsotakis is promising lower taxes, greater privatisation of public services and plans to renegotiate a deal with Greece’s creditors that would allow more money to be reinvested in the country. Mr Tsipras, who came to power in 2015, has promised more investment and recently boosted pensions. His own investment policies would also have to be renegotiated with creditors as the country remains under eurozone supervision. Each of the country’s numerous parties needs to gain at least 3% of the vote to get into the parliament and as many as seven of them could win seats.

The winning party gets a 50-seat bonus and needs 151 seats in the 300-seat parliament to have a majority. At the European elections, New Democracy won 33.11% of the vote against 23.78% for Syriza. The highest percentage of 18-to-24 year olds (30.5%) at that election backed New Democracy.

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Europe c.1320

 

 

 

 

Jul 052019
 


Pablo Picasso Rest 1932

 

US Job Growth Seen Accelerating, Rate Cut Still Expected (R.)
German Industrial Orders Fell Far More Than Expected In May (R.)
Iran Demands Britain Release Oil Tanker Held In Gibraltar (AFP)
Europe Trade Channel With Iran Close To First Deal In Days (R.)
Has Trump Turned an Important Corner? (Luongo)
Mueller Report Gets Trump Tower Meeting Wrong; Promotes Browder Hoax (CN)
Vast Chinese Loans Pose Risks to Developing World (Spiegel)
The End Of Inheritance For The Middle Class (F.)
Electric Cars Will Not Solve Transport Problem (BBC)
Brazil Deforestation Increase Exceeds 88% In June (R.)
From Madagascar to Brazil, Researchers Pick Best Spots To Replant Forests (R.)
Tree Planting ‘Has Mind-Blowing Potential’ To Tackle Climate Crisis (G.)
Europe’s Treatment of Migrants Is Shameful (Spiegel)
82 Migrants Feared Dead After Boat Capsizes Off Tunisia (AlJ)

 

 

No, no fireworks, jets or tanks here.

 

The world of finance has developed a whole new logic.

US Job Growth Seen Accelerating, Rate Cut Still Expected (R.)

U.S. job growth likely rebounded in June, with wage gains expected to pick up, but that would probably not be enough to discourage the Federal Reserve from cutting interest rates this month amid growing evidence the economy is slowing. Lack of concrete progress in resolving an acrimonious trade war between the United States and China was also seen forcing the U.S. central bank’s hand, regardless of a strong employment report from the Labor Department on Friday. The Fed last month signaled it could ease monetary policy as early as July, citing low inflation as well as growing risks to the economy from an escalation in trade tensions between Washington and Beijing.

President Donald Trump and Chinese President Xi Jinping last week agreed to a trade truce and a return to talks. White House trade adviser Peter Navarro said on Tuesday talks were heading in the right direction, but it would take time to get the right deal made. The trade fight has undercut business confidence, leading to a downturn in equipment spending and manufacturing. “Given signs of slowing growth and little material progress on the trade war, a rebound in job growth would still leave the Fed on course to cut rates at the July meeting and we expect a 25 basis points cut,” said Sam Bullard, a senior economist at Wells Fargo Securities in Charlotte, North Carolina.

Nonfarm payrolls probably increased by 160,000 jobs last month after rising by only 75,000 in May, according to a Reuters survey of economists. May marked the second time this year that job gains dropped below 100,000. Reports on Wednesday showed private employers hired far fewer-than-expected workers last month and a measure of services industries employment declined.

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When Germany has a problem, the entire EU does.

German Industrial Orders Fell Far More Than Expected In May (R.)

German industrial orders fell far more than expected in May, and the Economy Ministry warned on Friday that this sector of Europe’s largest economy was likely to remain weak in the coming months. Contracts for ‘Made in Germany’ goods were down by 2.2% on the month after rising slightly in March and April, data from the Economy Ministry showed. The reading undershot the Reuters consensus forecast for a 0.1% decline. “The great order book deflation continues,” ING economist Carsten Brzeski said. Devastating new orders data just undermined any hopes for an industrial rebound.”


Other recent data have painted a gloomy picture of the sector too, with engineering orders falling and activity in the manufacturing sector contracting. In a sign that the economic slowdown is beginning to bite, a survey by the Ifo institute published on Thursday showed German manufacturers expect to make more use of “Kurzarbeit” — a short-hours facility aimed at avoiding mass lay-offs. “What misery!” VP Bank economist Thomas Gitzel said after the orders data was published. “Given the significant decline in incoming orders, industrial production will remain extremely weak in the second half of the year and that increases the risk of recession for the German economy.”

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It didn’t even dock, it just slowed down to take on provisions. In waters that EU member Spain says are Spanish.

Iran Demands Britain Release Oil Tanker Held In Gibraltar (AFP)

Iran demanded Friday that Britain immediately release an oil tanker it has detained in Gibraltar, accusing it of acting at the bidding of the United States. A senior foreign ministry official “described the UK move as unacceptable” in a meeting with British ambassador Rob Macaire, who had been summoned to hear a formal protest, the ministry said in a statement. He “called for the immediate release of the oil tanker, given that it has been seized at the request of the US, based on the information currently available”, the statement added. Authorities in Gibraltar, a British overseas territory on Spain’s southern tip at the western entrance to the Mediterranean, said they suspected the tanker was carrying crude to Syria in violation of EU sanctions.


The detention of the 330-metre (1,000-feet) Grace 1 vessel comes at a sensitive time in Iran-EU ties as the bloc mulls how to respond to Tehran announcing it is poised to breach the uranium enrichment limit it agreed to in a troubled 2015 nuclear deal. The Grace 1 tanker was halted in the early hours of Thursday by police and customs agencies in Gibraltar, aided by a detachment of British Royal Marines. The ship was detained 2.5 miles (four kilometres) south of Gibraltar in what it considers British waters, although Spain, which lays claim to the territory, says they are Spanish. It was boarded when it slowed down in a designated area used by shipping agencies to ferry goods to vessels.

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So how do we link the seized Iran tanker to the new Instex trade channel set up to bypass the US?

Europe Trade Channel With Iran Close To First Deal In Days (R.)

French Finance Minister Bruno Le Maire said on Thursday he hoped a special trade channel set up with Iran would complete a first, limited transaction in the coming days. Set up by France, Britain and Germany, Instex is a barter trade mechanism that aims to avoid direct financial transfers by offsetting balances between importers and exporters on the European side. The mechanism is aimed at making it possible for trade between European Union members and Iran to continue in the face of stiff U.S sanctions since Washington quit a 2015 nuclear accord between Tehran and world powers last year.


Those sanctions have effectively suffocated Iran’s economy by clamping down on its oil sales. “We want Instex to enter into force in a few days, and I hope that we will be able to operate in a few days. I hope the first transaction will be completed in a few days,” Le Maire told journalists at a meeting in Poland. “The first transaction will be a limited one, but this is a starting point and we expect Instex to be an efficient tool,” Le Maire added. [..] France’s foreign ministry said on Wednesday that Instex would become operational based on Iran’s “full compliance with its JCPOA (Iran deal) commitments.” “We aren’t going to press the yes button if there are doubts about its compliance,” said one European diplomat.

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Bolton in Mongolia, Tucker Carlson in Air Force One.

Has Trump Turned an Important Corner? (Luongo)

Donald Trump’s surprise visit to North Korea last week was impressive. It was a bold first step in repairing a foreign policy in tatters after more than a year of assaults by his neoconservative boobsie-twins Secretary of State Mike Pompeo and National Security Advisor John Bolton. Trump took Kim at his word who said after talks broke down thanks to Bolton and Pompeo in Hanoi that no dialogue would be possible if Bolton was involved. So, Trump sent Bolton to Mongolia. Then he went to Korea and did the one thing he had to do to begin unraveling the mess he’d gotten himself into. Last week I asked where does Trump go after his confrontation with Iran? Trump answered that question in dramatic fashion. And he deserves a lot of credit for it.

But what does this mean in the wider context? It’s a good first step but we’ve seen this game from him before, making bold moves only to be reined in by his staff. I would say that the optics of sending Bolton to Mongolia are pretty clear. Bolton’s time in the White House is nearly over. This is also a strong signal to Iran that Trump trying to back down without actually saying that. The drone incident was intended to box Trump into a path to war with Iran after the tanker attack in the Gulf of Oman two weeks prior. That was likely not the Iranians but the Saudis and/or MEK, again trying to get Trump to fly off the handle, since he’s easily manipulated into emotional acts. But he was talked out of it at the last minute, presumably by Tucker Carlson, who was with him on Air Force One when Trump went to meet Kim.

[..] A lot has changed in the past four months since the end of the Mueller investigation. And the signs are all there that Trump is feeling a lot more secure both politically and financially that would allow him to not only make bold first moves but follow through on them. Speaker Nancy Pelosi backed down on border wall funding. She’s ruled out impeachment as a bad political tactic. And she’s under fire from the hard-core Progressives in the party. This makes them weak. So, from a re-election standpoint Trump looks very secure, especially after the “I’m more woke than you” fest that was the first debate among DNC candidates. We’re looking at a mirror of 2016 with the Republicans that Trump beat. A wide and shallow pool of less than capable candidates who will all eat each other alive while he rides to re-election.

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“On the issue of Browder, the Magnitsky story and the essence of the Trump Tower meeting, the Mueller Report is a deception intended to keep the myth of collusion in the air while dismissing that any collusion took place.”

Mueller Report Gets Trump Tower Meeting Wrong; Promotes Browder Hoax (CN)

The Mueller report thus focuses instead on “efforts to prevent disclosure of information about the June 9, 2016 Trump Tower meeting between Russians and senior campaign officials.” But the report on this topic is deceptive. Ironically, as it attacks Donald Trump and top campaign officials for lying, the report itself lies about the issue the meeting addressed. It wasn’t to provide dirt on Hillary Clinton, which the Russian lawyer did not have and never produced. That was a ploy by Robert Goldstone, a British music publicist whose job is to get what his clients want, in this case, a meeting. So, recklessly, he invented the idea of Clinton dirt as a bait-and-switch to get Trump’s people to come to it. He got the lawyer the meeting for her to lobby a potentially incoming administration against the Magnitsky Act, which is why she was in the United States in the first place.

The Magnitsky Act is a 2012 U.S. law that was promoted by William Browder, an American-born British citizen and hedge fund investor, who claimed his “lawyer” Sergei Magnitsky had been imprisoned and murdered because he uncovered a scheme by Russian officials to steal $230 million from the Russian Treasury. It sanctioned Russians he said were involved or benefitted from Magnitsky’s death. It has since been used by the U.S. to put sanctions on other Russians and nationals from other countries.

The lawyer lobbying against the act, Natalia Veselnitskaya, told Trump Jr., Kushner and Manafort that Browder’s story was fake, a smokescreen to block the Russians from going after him for multi-millions in tax evasion. She argued the Magnitsky Act was built on this fraud. Manafort’s notes, included in the Mueller Report, trace what she said.

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At the heart of Belt and Road is Chinese overcapacity.

Vast Chinese Loans Pose Risks to Developing World (Spiegel)

The future rail link cuts its way through the jungles of Laos for over 400 kilometers. Soon, trains will be rolling through — over bridges, through tunnels and across dams built just for the line, which runs from the Chinese border in the north to the Laotian capital of Vientiane on the Mekong River. After five years of construction, the line is set to go into service in 2021. And the Chinese head of one of the sections has no doubt that it will be finished on time. “Our office alone employs 4,000 workers,” he says. There is also no lack of money: The Chinese government in Beijing has earmarked around 6 billion dollars for the project and has recently become both Laos’s largest creditor and most significant provider of development aid.

China, after all, isn’t just directly financing 70 percent of the new train lain, it is also building dams, schools, military hospitals and has even launched a communications satellite into space for the country. In April, Beijing loaned Laos another 40 million dollars for road construction — a credit that was provided through the multilateral Asian Infrastructure Investment Bank based in Beijing, a financial institution that China established as an alternative to Western development banks. If Hong Kong is included, China isn’t just the largest creditor in Laos, but in the entire world. Beijing’s foreign loans dominate global markets almost to the same degree as its toys, smartphones and electric scooters do.

From Kenya to Montenegro, from Ecuador to Djibouti, roads, dams and power plants are being built with billions in loans from Beijing. And all of those countries will have to pay back those loans in the years to come. With interest. The flood of capital from China helped prevent the global economy from plunging into depression following the bankruptcy of Lehman Brothers and the ensuing financial crisis. But it isn’t without controversy. For some, the billions of dollars from China are a welcome contribution to helping many underdeveloped regions in Asia and Africa expand infrastructure. For others, the loans from Beijing have forced half the world into economic and political dependency on Beijing.

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What is left of Americans’ wealth dies by a thousand cuts. A predator society.

The End Of Inheritance For The Middle Class (F.)

Increasingly, the old family homestead is not being passed down to the family when the parents die. Older parents are taking advantage of reverse mortgages to pay off credit cards and to escape poverty and debt. This reduces equity in the home and often leads to foreclosure, leaving traditional heirs with nothing but memories. Not only are reverse mortgage companies feasting upon the assets of older Americans; so too are health insurers and prescription drug companies. Moreover, seniors on a fixed income were adversely affected by President Trump’s Tax Cuts and Jobs Act, which raised the threshold on medical expense tax deductions and placed a cap of $10,000 on the itemized deductibility of state and local taxes.

America seems to be in the midst of a paradigm shift. Wealth transfer is skipping the deceased’s traditional heirs and going directly into the pockets of mortgage companies, banks, international corporations and the government. An alarming percentage of older Americans have insufficient money to cover basic necessities. According to the Institute on Assets and Social Policy, one-third of senior households have no money left over each month or are in debt after meeting essential expenses. This makes them vulnerable to the lure of reverse mortgages.

Reverse mortgages allow homeowners age 62 and above to withdraw a portion of their home’s equity to help them pay expenses in retirement. The debt usually comes due when the borrower dies and is repaid through the sale of the home. However, borrowers can face foreclosure while living if they fall behind on property taxes or homeowner’s insurance.

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That a report must be written on this is what drives me to despair.

Electric Cars Will Not Solve Transport Problem (BBC)

Car use will still need to be curbed even when all vehicles are powered by clean electricity, a report has said. It warns that electrifying cars will not address traffic jams, urban sprawl and wasted space for parking. The Centre for Research into Energy Demand Solutions (CREDS) report calls on the government to devise a strategy allowing people to have a good standard of living without needing a car. The government said it was spending £2bn to promote walking and cycling. It also says it plans to spend £50bn on improving roads. However, critics accuse the government of not having a serious plan to deal with the social problems associated with mass car ownership.


CREDS is an academic consortium of more than 80 academics across the UK. “Car use is a massive blind spot on government policy,” Prof Jillian Anable, one of the authors of the report, said. She added: “For many years ministers have adopted the principle of trying to meet demand by increasing road space. “They need to reduce demand instead.” The authors say there will always be people who depend on cars, especially in the countryside or suburbs. But, they point out that many young people in cities are choosing not to buy cars. Instead they are using public transport, walking, cycling, taking minicabs and hiring cars when they are needed.

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Imagine all the species that vanish with the trees.

Brazil Deforestation Increase Exceeds 88% In June (R.)

Deforestation in Brazil’s portion of the Amazon rainforest soared more than 88% in June compared with the same month a year ago, the second consecutive month of rising forest destruction under new President Jair Bolsonaro, who has called for development of the region. According to data from Brazil’s space research agency, deforestation in the world’s largest tropical rainforest totaled 920 square km (355 square miles). The data showing an 88.4% deforestation increase is preliminary but indicates the official annual figure, based on more detailed imaging and measured for the 12 months to the end of July, is well on track to surpass last year’s figure.


In the first 11 months, deforestation already has reached 4,565 square km (1,762 square miles), a 15 percent increase over the same period in the previous year. That is an area larger than the U.S. state of Rhode Island. Environmentalists have warned that Bolsonaro’s strong remarks calling for the development of the Amazon and criticizing the country’s environmental enforcement agency Ibama for handing out too many fines would embolden loggers and ranchers seeking to profit from deforestation. “Bolsonaro has aggravated the situation. … He has made a strong rhetorical attack,” said Paulo Barreto, a researcher at Brazilian nongovernment organization Imazon.

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“..more than half of the tropical forests in the world are gone – most of that in the last 50 years..”

From Madagascar to Brazil, Researchers Pick Best Spots To Replant Forests (R.)

Researchers have identified swathes of lost tropical rainforests as the best places to replant trees, hoping to redress some of the damage done by deforestation and limit climate change. A four-year study used high-resolution satellite imagery to pinpoint more than 100 million denuded hectares (247 million acres) – from South Sudan to Brazil and India – that would deliver good results if reforested. “Globally, more than half of the tropical forests in the world are gone – most of that in the last 50 years,” said Robin Chazdon, a professor at the University of Connecticut and co-author of the study published on Wednesday in the journal Science Advances.


“These forests provide a huge amount of functioning and services for our planet and people that have gone unappreciated,” she told the Thomson Reuters Foundation. The tropics lost 12 million hectares of tree cover in 2018, the fourth-highest annual loss since records began in 2001, according to forest monitoring service Global Forest Watch. Of greatest concern, it said, was the disappearance of 3.6 million hectares of old-growth rainforest, an area the size of Belgium, much due to fires, land-clearing for farms and mining. Environmentalists say protecting existing forests and restoring damaged ones prevents flooding, stores carbon, limits climate change and protects biodiversity.

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Strong contender for stupidest headline.

Tree Planting ‘Has Mind-Blowing Potential’ To Tackle Climate Crisis (G.)

Planting billions of trees across the world is by far the biggest and cheapest way to tackle the climate crisis, according to scientists, who have made the first calculation of how many more trees could be planted without encroaching on crop land or urban areas. As trees grow, they absorb and store the carbon dioxide emissions that are driving global heating. New research estimates that a worldwide planting programme could remove two-thirds of all the emissions that have been pumped into the atmosphere by human activities, a figure the scientists describe as “mind-blowing”. The analysis found there are 1.7bn hectares of treeless land on which 1.2tn native tree saplings would naturally grow. That area is about 11% of all land and equivalent to the size of the US and China combined.


Tropical areas could have 100% tree cover, while others would be more sparsely covered, meaning that on average about half the area would be under tree canopy. The scientists specifically excluded all fields used to grow crops and urban areas from their analysis. But they did include grazing land, on which the researchers say a few trees can also benefit sheep and cattle. “This new quantitative evaluation shows [forest] restoration isn’t just one of our climate change solutions, it is overwhelmingly the top one,” said Prof Tom Crowther at the Swiss university ETH Zürich, who led the research. “What blows my mind is the scale. I thought restoration would be in the top 10, but it is overwhelmingly more powerful than all of the other climate change solutions proposed.”

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“This year alone, just under 600 migrants have drowned in the Mediterranean, a figure that is far greater than the number who have died along the U.S.-Mexican border.”

Europe’s Treatment of Migrants Is Shameful (Spiegel)

Today’s migration policies in the European Union are even more brutal than those pursued by Donald Trump. It may be true that the Europe doesn’t have border officials separating children from their parents, but the Europeans have entered into pacts with Libyan militias that operate horrific camps where torture and rape are commonplace, and they work together with the so-called Libyan coast guard, which is little more than a militia at sea. Sea rescue operations in the Mediterranean have practically been shut down, and Italian hardliner Matteo Salvini is no longer allowing private rescue ships to come ashore in the country.

The aim of all of this is clear: The crossing to Europe should be made more dangerous as a way of discouraging migrants from attempting it. And it seems to have worked: Fewer boats are coming. But more of those who try are dying. This year alone, just under 600 migrants have drowned in the Mediterranean, a figure that is far greater than the number who have died along the U.S.-Mexican border. The horrors of the EU’s migration policies aren’t playing out in front of the cameras — they are unfolding in North Africa and on the high seas. There was one exception last week: The captain of a ship with the German rescue organization Sea Watch, Carola Rackete, steered her ship to Lampedusa because people on board had already spent two weeks crammed together on deck and she felt the situation was no longer tenable. The captain was promptly arrested upon the vessel’s arrival in Italy. She was released by an Italian court on Tuesday.

Despite the suffering, the situation in the Mediterranean Sea is quite convenient for countries in northern Europe, while Italian Interior Minister Salvini is playing the role of brutal doorman and scapegoat. The numbers of refugees are stable, but the status quo also means that the issue of migration isn’t being solved. And meanwhile, the EU is selling its soul.

Read more …

Time to normalize Libya.

82 Migrants Feared Dead After Boat Capsizes Off Tunisia (AlJ)

A boat carrying at least 86 refugees and migrants has capsized off the coast of Tunisia with most feared drowned. Some of the four initial survivors told the Tunisian coastguard on Thursday the boat sank off the town of Zarzis, Tunisian Red Crescent official Mongi Slim told Reuters news agency. Tunisian fishermen came across the sinking boat and were able to pull four survivors out on Wednesday night, but could not find any of the other passengers, said Lorena Lando, head of the International Organization for Migration (IOM) in Tunisia.


Eighty-two people remain missing in the incident, which comes a day after a deadly air attack on a Libyan detention centre killed at least 44 migrants. Al Jazeera’s Sarah Khairat, reporting from a refugee camp in Zarzis where the survivors were brought, said the vessel was heading from the west of Libya to Europe when it capsized. The four survivors were all men – three from Mali and one from the Ivory Coast. The Ivory Coast national later died and two of the others are in hospital. Slim told dpa news agency the boat set sail from Libya on Monday. Earlier this week, another boat from Libya made it to the Tunisian port of Sfax with 65 people on board.

Read more …

 

Europe c.1320

 

 

 

 

Jul 042019
 
 July 4, 2019  Posted by at 7:14 pm Primers Tagged with: , , , , , , , , , , , , , , , ,  


Odilon Redon The Birth of Venus II c.1910

 

How do you define terror? Perhaps, because of the way the term has evolved in the English language, one wouldn’t call the west ‘terrorists’ per se, but ‘we’ are certainly spreading terror and terrorizing very large groups of people. Yeah, bring on the tanks and parade them around town. Add a marching band that plays some war tunes.

The ‘official’ storyline : at the request of the US, Gibraltar police and UK marines have seized an oil tanker in Gibraltar. The super-tanker, 1000 feet (330 meters) long, carrying 2 million barrels, had stopped there after sailing all around the Cape of Good Hope instead of taking the Suez canal on its way, ostensibly, from Iran to Syria.

And, according to the storyline as presented to and in the western press, because the EU still has sanctions on Iran, the British seized the ship. Another little detail I really appreciate is that Spain’s acting foreign minister, Josep Borrell, said Madrid was looking into the seizure and how it may affect Spanish sovereignty since Spain does not recognize the waters around Gibraltar as British.

That Borrell guy is the newly picked EU foreign policy czar, and according to some sources he’s supportive of Iran and critical of Israel. Them’s the webs we weave. He’s certainly in favor of Palestinian statehood. But we’re wandering…

Why did the tanker take that giant detour along the African coastline? Because potential problems were anticipated in the Suez canal. But also: why dock in Gibraltar? Because no problems were anticipated there. However, the US had been following the ship all along, and set this up.

A trap, a set-up, give it a name. I would think this is about Iran, not about sanctions on Syria; that’s just a convenient excuse. Moreover, as people have been pointing out, there have been countless arms deliveries to Syrian rebels in the past years (yes, that’s illegal) which were not seized.

 

The sanctions on Syria were always aimed at one goal: getting rid of Assad. That purpose failed either miserably or spectacularly, depending on your point of view. It did achieve one thing though, and if I were you I wouldn’t be too sure this was not the goal all along.

That is, out of a pre-war population of 22 million, the United Nations in 2016 identified 13.5 million Syrians requiring humanitarian assistance; over 6 million are internally displaced within Syria, and around 5 million are refugees outside of Syria. About half a million are estimated to have died, the same number as in Iraq.

And Assad is still there and probably stronger than ever. But it doesn’t even matter whether the US/UK/EU regime change efforts are successful or not, and I have no doubt they’ve always known this. Their aim is to create chaos as a war tactic, and kill as many people as they can. How do you define terror, terrorism? However you define it, ‘we’ are spreading it.

That grossly failed attempt to depose Assad has left Europe with a refugee problem it may never be able to control. And the only reason there is such a problem is that Europe, in particular Britain and France, along with the US, tried to bomb these people’s homelands out of existence. Because their leaders didn’t want to conform to “our standards”, i.e. have our oil companies seize and control their supplies.

 

But while you weren’t looking some things changed, irreversibly so. The US and Europe are no longer the undisputed and overwhelming global military power they once were. Russia has become a target they cannot even consider attacking anymore, because their armies, assembled in NATO, wouldn’t stand a chance.

China is not yet at the ‘might’ level of Russia, but US and NATO are in no position to attack a country of 1.4 billion people either. Their military prominence ended around the turn of the century/millennium, and they’re not going to get it back. Better make peace fast.

So what we’ve seen for a few decades now is proxy wars. In which Russia in particular has been reluctant to engage but decisive when it does. Moscow didn’t want to let Assad go, and so they made sure he stayed. Syria is Russia’s one single stronghold in the Middle East, and deemed indispensable.

Meanwhile, as over half of Syrians, some 11 million people, have been forced to flee their homes, with millions of them traumatized by war, ‘we’ elect to seize a tanker allegedly headed for a refinery in the country, so we can make sure all those people have no oil or less oil for a while longer.

So the refugees that do have the courage and will to return will find it that much harder to rebuild their homes and towns, and will tell those still abroad not to join them. At the same time Assad is doing fine, he may be the target of the sanctions but he doesn’t suffer from them, his people do.

 

Yes, let’s parade some tanks around town. And let’s praise the heroic UK marines who seized an utterly defenseless oil tanker manned by a bunch of dirt-poor Philippinos. Yay! There is probably some profound irony that explains why Trump and Bolton and Pompeo want a military parade at the very moment the US military must concede defeat in all theaters but the propaganda one.

Still there it is. The only people the US, the west, can still credibly threaten, are defenseless civilians, women, children. The leaders of nations are out of reach. Maduro, Assad, let alone Putin or Xi.

Happy 4th of July. Not sure how independent you yourself are, but I can see a few people who did achieve independence from western terror. Just not the poor, the ones that count. But don’t look at the tanks, look at the wind instead. The winds are shifting.

 

 

 

 

Jun 262019
 
 June 26, 2019  Posted by at 9:46 am Finance Tagged with: , , , , , , , , , , , ,  


Pablo Picasso The muse 1935

 

Iran Says It Will Never Pursue A Nuclear Weapon (ZH)
Iran Foreign Minister Accuses Bolton Of Plotting For War (R.)
NATO Calls On Russia To Destroy New Missile, Warns Of Response (R.)
Mueller To Testify Before Two House Committees July 17 (AFP)
A. Gary Shilling Says The US Is Already In A Recession
Housing Market Slump Could Drive Global Growth To A Decade Low (MW)
Merrill Lynch Caught Criminally Manipulating Precious Metals Market (ZH)
Apple Doubles Down On Buybacks (Axios)
Italy’s Gold Now Belongs To The ECB (ZH)
Investors With $34 Trillion Demand Urgent Climate Change Action (R.)

 

 

“How many people have you killed with a nuclear weapon? How many generations have you wiped out with these weapons?”

Iran Says It Will Never Pursue A Nuclear Weapon (ZH)

Following Iran’s statement that diplomacy with the United States is “closed forever” after Washington sanctioned the Supreme Leader and other key officials, including on the foreign minister himself – making it practically hard to actually “do” diplomacy given sanctions also have the impact of restricting travel for the nation’s top diplomat – FM Javad Zarif slammed America’s track record with nukes. “You were really worried about 150 people? How many people have you killed with a nuclear weapon? How many generations have you wiped out with these weapons?” Zarif said Tuesday in reference to Trump’s calculus that he refrained from ordering last Thursday night’s readied military strike against Iran when informed 150 people would die.


“It is us who, because of our religious views, will never pursue a nuclear weapon,” Zarif added. Indeed it’s been long understood that since Iran’s Islamic revolution the Ayatollahs have been consistently against nuclear weapons on moral grounds, citing Koranic principles. The US remains the only country in the world to have ever deployed nuclear weapons in a wartime situation, dropping two on Japan at the end of WWII. Though scholars generally agree that the overwhelming destruction on Hiroshima and Nagasaki made counting impossible, conservative estimates tend to be at over 200,000 dead and wounded total wrought by the twin atom bombs dropped over those cities. And of course, the overwhelming majority of the Japanese dead and wounded were civilians.

Read more …

How dare he.

Iran Foreign Minister Accuses Bolton Of Plotting For War (R.)

Iran’s Foreign Minister Mohammad Javad Zarif accused U.S. National Security Adviser John Bolton of plotting for war against Iran in a tweet on Tuesday. “Wanna know why those with proven record of detesting diplomacy are suddenly interested in talks? Just read @AmbJohnBolton’s 2017 recipe for destroying the #JCPOA,” Zarif wrote, adding a link to a 2017 article written by Bolton in the National Review. The Joint Comprehensive Plan of Action, or JCPOA, is the landmark 2015 nuclear deal Iran signed with world powers. “Iran never left the negotiation table. #B_Team dragged the U.S. out, while plotting for war,” Zarif added. Zarif has in the past said that a “B-team” including Bolton, an ardent Iran hawk, and Israeli Prime Minister Benjamin Netanyahu, could goad Trump into a conflict with Tehran.

Read more …

An excuse for more rockets on Russia’s border.

NATO Calls On Russia To Destroy New Missile, Warns Of Response (R.)

NATO urged Russia on Tuesday to destroy a new missile before an August deadline and save a treaty that keeps land-based nuclear warheads out of Europe or face a more determined alliance response in the region. NATO defense ministers will discuss on Wednesday their next steps if Moscow keeps the missile system that the United States says would allow short-notice nuclear attacks on Europe and break the 1987 Intermediate-range Nuclear Forces Treaty (INF). “We call on Russia to take the responsible path, but we have seen no indication that Russia intends to do so,” Secretary-General Jens Stoltenberg told a news conference. “We will need to respond,” Stoltenberg said.


He declined to go into more details. But diplomats said defense ministers will consider more flights over Europe by U.S. warplanes capable of carrying nuclear warheads, more military training and the repositioning U.S. sea-based missiles. The United States and its NATO allies want Russia to destroy its 9M729/SSC-8 nuclear-capable cruise missile system, which Moscow has so far refused to do. It denies any violations of the INF treaty, accusing Washington of seeking an arms race. Without a deal, the United States has said it will withdraw from the INF treaty on Aug. 2, removing constraints on its own ability to develop nuclear-capable, medium-range missiles.

Read more …

Brought to you by the Trump 2020 re-election committee.

Mueller To Testify Before Two House Committees July 17 (AFP)

Former US special counsel Robert Mueller is to testify in public about his report into Russian electoral interference, paving the way for a historic television moment in which Democrats will attempt to make the case for President Donald Trump’s impeachment before the American people. The scrupulously tight-lipped Mueller will appear at back-to-back hearings on July 17 of the House Judiciary and Intelligence Committees, which announced Tuesday that the prosecutor had agreed to abide by subpoenas for his testimony. “Russia attacked our democracy to help Trump win. Trump welcomed and used that help,” House Intelligence Committee chairman Adam Schiff said on Twitter.


“As Mueller said, that should concern every American. And now, every American will get to hear directly from Mueller.” Trump’s apparent response to the announcement came swiftly in a two-word tweet in which he complained, without referring to Mueller, of “Presidential Harassment!” The Mueller report released in April outlined numerous contacts between Trump’s 2016 election campaign and government-linked Russians, as well as evidence that the president tried on several occasions to stymie the investigation. The Democrats have been split on whether to launch impeachment proceedings against the Republican president but — fearing that much of the country is unaware of the Mueller report’s contents — have been asking major figures in the probe to testify in public on its findings.

Read more …

He says it will be mild.

A. Gary Shilling Says The US Is Already In A Recession

Gary Shilling, an economist and financial analyst who is credited with predicting several recessions over the past 40 years, thinks the U.S. is in a relatively mild slump. “I think we’re probably already in a recession but I think it will probably be a run-of-the-mill affair, which means real GDP would decline 1.5% to 2%, not the 3.5% to 4% you had in the very serious recessions,” Shilling, president of economic and financial research firm A. Shilling & Co., said in a recent interview broadcast this week by Real Vision. In such a tempered slide, he says, “Stocks probably wouldn’t fall” but if they did, they likely would tumble about 22% — similar to other recent recessions. That, he says, would take the Standard and Poor’s 500 index about 200 points below it’s Christmas Eve nadir of 2,351.


His view is at odds with the vast majority of economists who expect the economy to grow a solid 2% to 2.5% this year after expanding at about a 3% clip last year and in the first quarter. Shilling points to: • Declining industrial production, a result of a weak global economy and the Trump administration’s trade war with China. • Feeble job growth of 75,000 in May, along with downward revisions to prior months. • The Federal Reserve Bank of New York’s recession probability chart, which shows about a 30% chance of a downturn the next 12 months, up from about 10% early this year. That data is based on an inversion of the yield curve, which has shown rates on 3-month Treasury bonds topping 10-year notes recently – a sign that investors don’t have much faith in the longer-term outlook. Inversions do herald recessions but often two years in advance.

Read more …

China: $6.8 trillion in household debt, a 70% rise in personal debt from just three years ago.

Housing Market Slump Could Drive Global Growth To A Decade Low (MW)

The global housing market is showing cracks. Those fissures could spread throughout the world-wide economy, potentially sending world-wide gross domestic product, or GDP, to its lowest annual pace of in 10 years, according to research from Oxford Economics, led by economists Adam Slater, and John Payne in a research report dated June 24. “A combined slump in house prices and housing investment in the major economies could cut world growth to a 10-year low of 2.2% by 2020 – and to below 2% if it also triggered a tightening in global credit conditions.” the Oxford Economics researchers wrote.

A decade since the 2008-09 U.S. housing bubble imploded, sparking a global financial crisis, worries about the health of the global housing market persist. An Oxford Economics’ proprietary gauge of housing conditions in the globe shows that home prices have declined by 10% and investments in houses have shrunk by 8%. Housing prices across the globe have come in to focus as a protracted tariff squabble between the U.S. and China ripples throughout the global economy, compelling a number of central bankers to entertain the idea of lowering benchmark borrowing costs in an effort to stimulate, or just maintain, economic expansion.

The Federal Reserve last Wednesday signaled a willingness to lower federal-funds rates, currently at 2.25%-2.50%, if financial conditions worsen. In China, a decade long housing boom has sent home values to the lofty levels, with buying in the region underpinned by some $6.8 trillion in household debt, according to the Bank for International Settlements, a 70% rise in personal debt from just three years ago, with much of that tied to residential mortgages. Oxford Economics says data show that residential investment in China is slowing as are starts for new construction also ebb

Read more …

Nopbody goes to jail, nobody even pays a fine. A broken system indeed.

Merrill Lynch Caught Criminally Manipulating Precious Metals Market (ZH)

On Tuesday after the close, the CFTC announced that Merrill Lynch Commodities (MLCI), a global commodities trading business, agreed to pay $25 million to resolve the government’s investigation into a multi-year scheme by MLCI precious metals traders to mislead the market for precious metals futures contracts traded on the COMEX (Commodity Exchange Inc.). The announcement was made by Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office. In other words, if the Merrill Lynch Commodities group was an individual, he would have gotten ye olde perp walk.

As MLCI itself admitted, beginning in 2008 and continuing through 2014, precious metals traders employed by MLCI schemed to deceive other market participants by injecting materially false and misleading information into the precious metals futures market. They did so in the now traditional market manipulation way – by placing fraudulent orders for precious metals futures contracts that, at the time the traders placed the orders, they intended to cancel before execution. In doing so, the traders intended to “spoof” or manipulate the market by creating the false impression of increased supply or demand and, in turn, to fraudulently induce other market participants to buy and to sell futures contracts at quantities, prices and times that they otherwise likely would not have done so.

Over the relevant period, the traders placed thousands of fraudulent orders. Of course, since we are talking about a bank, and since banks are in charge of not only the DOJ, and virtually every other branch of government, not to mention the Fed, nobody will go to jail and MLCI entered into a non-prosecution agreement and agreed to pay a combined – and measly – $25 million in criminal fines, restitution and forfeiture of trading profits.

Read more …

Stock manipulation

Apple Doubles Down On Buybacks (Axios)

Apple again led S&P 500 companies in buybacks, spending a new record $23.8 billion in Q1, more than doubling its spend from the previous quarter, data from S&P Global shows. Apple has long been a buyback behemoth. The company holds 8 of the 10 all-time records for quarterly buybacks, and has spent more than $75 billion on buybacks over just the past year. It has spent $234.7 billion over the most recent 5-year period, and $284.3 billion over the last 10-year period. Apple accounted for 23% of share buybacks made by the top 20 S&P 500 companies. The big picture: While Apple has increased its buyback spending, other S&P 500 companies have slowed from 2018’s record pace.


Companies bought back just $205.8 billion worth of their own shares, a 7.7% decline from Q4 2018, S&P reported. That ended the streak of 4 consecutive quarters of record buybacks. Yes, but: Buybacks rose 8.9% from Q1 2018, which set a record at the time. Outside analysis of the broader stock market, beyond just the S&P, shows announced buyback spending was higher in Q1 2019 than Q4 2018. Ratings agency Moody’s warned last month that companies are spending more on share buybacks and dividends than they were paying in taxes before the 2017 tax cut. The tax savings “can be wiped out entirely by even a modest change in share buybacks,” Christina Padgett, senior vice president at Moody’s, told Axios at the time.

Read more …

Italy has quite a lot of it.

Italy’s Gold Now Belongs To The ECB (ZH)

As the squabbling over Italy’s populist government’s plans to blow out its budget deficit to finance an agenda of tax cuts and social spending (including a ‘citizen’s income’ that’s essentially UBI-lite) crowded the headlines, the issue of who owns the 2,451 metric tons of gold reserves held by the Bank of Italy has been quietly ignored – at least, outside of Italy. But that might be about to change. On Tuesday, the ECB asked the League, the dominant party in Italy’s ruling coalition, to remove a reference to the Bank of Italy holding gold as an “exclusive title of deposit” according to Bloomberg. Translation? If Italy is not allowed to have title to Italian gold, then Italy’s gold now belongs to the ECB.

Today’s escalation over Italy’s gold “title” comes two months after the WSJ reported that Italy’s ruling populists pushed ahead with efforts to seize control of the central bank and its gold reserves. Complaining that hundreds of thousands of small individual investors lost billions of dollars after several Italian banks failed in recent years, the current Italian government depicted the central bank as a symbol of a technocratic elite aloof from the needs of ordinary Italians. “We need a change of course at the Bank of Italy if we think about what happened in the last years,” said Deputy Prime Minister Luigi Di Maio, leader of the 5 Star Movement. Shortly thereafter, 5 Star lawmakers asked parliament to pass two draft laws.

One law would instruct the central bank’s owners, most of them private banks , to sell their shares to the Italian Treasury at prices from the 1930s.The other law would declare the Italian people to be the owners of the Bank of Italy’s reserve of 2451.8 metric tons of gold, worth around $102 billion at current prices. “The gold belongs to the Italians, not to the bankers,” said Giorgia Meloni, leader of the Brothers of Italy, a far-right opposition party that supports both bills. “We are ready to battle everywhere in Italy and to bring Italians to the streets if necessary.” So far there has been no fighting but if indeed Draghi just told Italy that its gold now belongs to the Frankfurt-based central bank we expect that to change..

Read more …

So how much are they willing to pay?

Investors With $34 Trillion Demand Urgent Climate Change Action (R.)

Investors managing more than $34 trillion in assets, nearly half the world’s invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world’s 20 biggest economies meeting this week. In an open letter to the “governments of the world” seen by Reuters, groups representing 477 investors stressed “the urgency of decisive action” on climate change to achieve the Paris Agreement target. Almost 200 nations agreed in Paris in 2015 to limit the global average temperature rise to well below 2 degrees Celsius above pre-industrial times. Current policies put the world on track for at least a 3C rise by the end of the century.


The letter comes ahead of a June 28-29 G20 summit in Japan and as United Nations Secretary-General Antonio Guterres urges countries to back more ambitious climate goals. “There is an ambition gap… This ambition gap is of great concern to investors and needs to be addressed, with urgency,” a statement from the investors accompanying the letter said. Governments were urged to strengthen their Paris Agreement targets by 2020; phase out thermal coal power and fossil fuel subsidies by set deadlines; set a robust global carbon price by 2020 and improve climate-related financial reporting. “It is vital for our long-term planning and asset allocation decisions that governments work closely with investors to incorporate Paris-aligned climate scenarios into their policy frameworks and energy transition pathways,” the statement said.

Read more …

 

Arundhati Roy:

 

 

 

 

 

Jun 222019
 
 June 22, 2019  Posted by at 9:48 am Finance Tagged with: , , , , , , , , , , , ,  


Pablo Picasso Composition (Minotaur And Woman) 1 1936

 

The Dow Is On Pace For Its Best June Return In 80 Years (MW)
US Banks Clear First Hurdle Of Federal Reserve’s Annual Stress Test (R.)
Carney Rejects Boris Johnson’s No-Deal Brexit Trade Claim (G.)
Just One Week Left To Save British Steel (G.)
Crude Steel Production: China Knocks the Socks off Rest of the World (WS)
China State Media Urges US To Drop Win-At-All-Costs Trade Stance (R.)
Crazyland (Kunstler)
Hong Kong Protesters ‘Besiege’ Police HQ (AFP)
Bernie Sanders Faces Mounting Opposition From Moderate Democrats (G.)
UN Rights Chief Says Venezuela Should Release Jailed Opponents (AFP)
Lethal Plastic Trash Now Common In Greece’s Whales (AP)

 

 

As three quarters of Americans live paycheck to paycheck. The Dow is virtual reality.

The Dow Is On Pace For Its Best June Return In 80 Years (MW)

U.S. stock benchmarks enjoyed a nearly unfettered run-up toward records on the week — with the rally pausing briefly Friday — on the back of the Federal Reserve’s easier monetary-policy stance. Recent gains have put the Dow Jones Industrial Average in position to ring up its best June gain of 7.7% since 1938 when the blue-chip benchmark surged an eye-popping 24.3% on the month, according to Dow Jones Market Data. The S&P 500 index is on track for its best June return, with a gain of about 7.2%, since 1955 when the broad-market benchmark rose 8.2%, while the Nasdaq Composite Index was on track for a 7.8% return in June, which would represent its best June since a 16.6% gain back in 2000.


The S&P 500 notched its first record close since April 30 on Friday, while the Dow is off less than 1% short of its Oct. 3 all-time closing peak. The rally for equities has been partly supported by the Fed, which concluded its Wednesday rate-setting meeting by signaling a willingness too trim rates as soon as the end of the July 30-31 gathering to curb the effects of tariff clashes between the U.S. and international trade partners, notably China, that have roiled global economies and threaten to disrupt global supply chains.

Read more …

US banks, too, are virtual reality.

US Banks Clear First Hurdle Of Federal Reserve’s Annual Stress Test (R.)

The 18 largest banks operating in the United States took the first step toward doling out capital on dividends, share buybacks and other investments on Friday, after clearing the first stage of their yearly health checks with the U.S. Federal Reserve that assess their ability to weather a major economic downturn. The central bank said lenders, including JPMorgan Chase & Co, Citigroup Inc, Goldman Sachs, Morgan Stanley and Bank of America Corp, would face losses of $410 billion under its most severe recession scenario ever, but levels of high-quality capital would still be well above regulatory minimums. “The nation’s largest banks are significantly stronger than before the crisis and would be well-positioned to support the economy even after a severe shock,” Fed Vice Chairman Randal Quarles said in a statement.


The Fed said hypothetical losses were broadly comparable to results from prior years, with the most significant loan losses seen in credit cards, followed by commercial and industrial loans. Friday’s results, the first of the two-part annual “stress test,” showed the country’s biggest lenders could meet minimum Fed standards based on information they submitted to the regulator. But banks could still stumble next Thursday, when the Fed announces whether it will permit banks to dish out dividends and buy back shares. That second test is more rigorous, assessing whether it is safe for banks to implement their capital plans. It also reviews operational controls and risk management. All eyes are on Deutsche Bank, which is bracing for potentially its fourth flunking in five years amid ongoing turmoil in its U.S. operations. Last year, the Fed failed the bank, citing “material weaknesses” in its data capabilities and capital planning.

Read more …

He’s saying Boris is lying.

Carney Rejects Boris Johnson’s No-Deal Brexit Trade Claim (G.)

The Bank of England governor, Mark Carney, has said that the UK would be hit automatically by tariffs on exports to the EU in a no-deal Brexit, rejecting a claim made by Boris Johnson that this could be avoided. Tory leadership candidate Johnson said this week that tariffs would not necessarily have to be paid if the UK left the EU without a deal because the UK could rely on article 24 of the general agreement on tariffs and trade (Gatt). Some Brexit supporters have claimed that the Gatt, a treaty under the auspices of the World Trade Organization (WTO), would allow a “standstill” in which tariffs are avoided, even in the absence of any agreement on trade.


Many trade experts say this is not the case without agreement from both sides. Carney cited the head of the WTO and Liam Fox, the minister for international trade who backed the Vote Leave campaign in 2016, to contradict Johnson. Talking to the BBC, Carney said: “Gatt 24 applies if you have an agreement, not if you’ve decided not to have an agreement or have been unable to come to an agreement. “Not having an agreement with the EU means that there are tariffs automatically because the Europeans have to apply the same rules to us as they apply to everyone else. If they were to decide not to put in place tariffs they also have to lower their tariffs with the United States, with the rest of the world. And the same would hold for us.”

Read more …

Should a government spend hundreds of millions to save its steel industry?

Just One Week Left To Save British Steel (G.)

A frontrunner to buy British Steel has been deterred by the government’s refusal to provide backing for investment in the Scunthorpe steelworks, amid concern there is just a week left to save the company. The government’s Insolvency Service, which is funding British Steel’s operations while seeking a buyer, has given bidders until 30 June to make an offer for the company, whose financial failure last month put 4,500 jobs at risk. About a dozen firms are thought to have made tentative approaches and the deadline could be extended if any ask for more time to draft a takeover plan. But the Guardian understands that Liberty House, previously considered among the most likely to buy British Steel, has cooled its interest after failing to secure government support, including loan guarantees to fund investment.


Liberty wants to convert Scunthorpe’s blast furnaces, which make steel from scratch, into more cost-effective electric arc furnaces that can use recycled steel to make similar products. But the plan would require a major outlay, which according to a person with knowledge of the situation would be in the “low hundreds of millions”. The source said there was a “lack of enthusiasm” in government for the steps that would be required to convert the steelworks. Government officials are understood to be unwilling to provide loan guarantees or help retrain staff who might lose their jobs, although such measures are thought to fall within state aid rules.

Read more …

Depending solely on China for steel may not be the way to go either.

Crude Steel Production: China Knocks the Socks off Rest of the World (WS)

In the year 2018, China alone produced 928 Mt of crude steel, up 6.6% up from 2017. This represented 51.3% of annual global production. In the first four months of 2019, China’s crude steel production jumped 10.3% year-over-year to 315 million metric tonnes, bringing its share to 52.5% of global production. For April alone, China’s production soared 12.8% year-over-year to 85 Mt, and its share of global production reached 54.2%. That’s the new record. The US, by comparison, the fourth largest crude steel producer, maintained its minuscule 4.7% share of global production over the 12-month period.


Vietnam, which in April moved up to 15th place, from 17th place for the year 2018, booked a huge jump of 42% in crude steel production in the first four months this year compared to 2018. For now, it’s still only a small producer with a share of less than 1% of global production. In the rest of the world without China, production over the first four months in 2019 declined by 0.6% year-over-year. The chart shows the monthly production of China (red) and the rest of the world (black), including the US in 2018 and 2019; in addition as a memo entry, just to see where we are, I added US production (green):

China’s steel production began surging out of near-nowhere in the late 1990s to end up outproducing the entire rest of the world, according to the data by the World Steel Association.

China’s mostly state-owned steel giants just kept on producing during the Financial Crisis, whether there was demand or not, causing prices to dive. Its market share jumped from 38% in 2008 to 47% in 2009. And its share has continued to grow. The chart below shows the global share of production in China and in North American (US, Canada, and Mexico):

No country comes even close to China’s crude steel production. For example, its production is 11 times the amount produced in the US. But second and third place are just a hair apart. In 2017 India was in third place. In 2018, it moved into second place with 106.5 Mt., having outproduced Japan (104.3 Mt). The US is in fourth place (86.6 Mt). Canada is in 18th place:

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Preparing for a meeting the Chinese way.

China State Media Urges US To Drop Win-At-All-Costs Trade Stance (R.)

Instead of waging a trade war with China, the United States should drop its win-at-all-costs mentality and consider the interests of its own people as well as the global community, the official People’s Daily said an editorial on Saturday. The Chinese Communist Party’s newspaper urged the United States to cancel all tariffs on Chinese goods, saying the only way to resolve trade issues was through “equal dialogue”. Hopes that the two sides can rekindle negotiations were raised in the run-up to a meeting next week between President Xi Jinping and U.S. President Donald Donald Trump in Japan, where they will both attend a Group of 20 summit.


The Office of the U.S. Trade Representative is holding seven days of hearings from manufacturers and other businesses likely to be affected by a new round of tariffs on $300 billion worth of Chinese imports proposed by U.S. President Donald Trump. The People’s Daily said all previous hearings had shown “overwhelming” opposition to tariff increases from all walks of life, but it had made no difference. “It seems that some people in the United States are waving the tariff stick in order to strengthen their so-called ‘industrial competitive advantage’,” it said. “They do not consider public opinion, do not consider national conditions, and do not take the international economic order into account. They just want the renown as ‘winners’ but cannot understand the fact that they basically cannot win.”

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Tucker Carlson now appears to be Trump’s main foreign adviser. And he’s ripping into Bolton.

Crazyland (Kunstler)

Surfing the cable channels the evening before my Friday a.m. blog duties, I came upon Sean Hannity at Fox News completely losing his shit in a colloquy with Geraldo Rivera about the Iran drone incident. “Bomb the crap out of them!” Mr. Hannity ranted, several times, the veins in his neck throbbing visibly on the high-def screen. I thought I was having an acid flashback to Doctor Strangelove. Geraldo himself seemed a bit nonplussed and embarrassed by Mr. Hannity’s tantrum, but his attempts to calm down the raving anchorman only ramped up the hysteria. One wondered: are there any adult producers off-screen on that network?


Perhaps the Golden Golem of Greatness, our president, who is also known to follow the Cable TV news, witnessed the cringeworthy incident and realized that every other head-of-state on this nervous planet would also see it, and might infer he was doing the bidding of a crazed boob-tube performer if he actually went forward with an air strike. Earlier, he’d told reporters, “You’ll soon find out,” what the USA’s response to the drone shoot-down would be. He should have just kept his mouth shut. Planes and ships were on their way to the bottleneck in the Persian Gulf known as the Straits of Hormuz. Before they could deliver any payloads, Mr. Trump called the whole thing off suggesting that maybe some “loose and stupid” Colonel Borat type on Iran’s side had gone rogue in the incident.

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Doesn’t look as if they will go away before getting what they demand.

Hong Kong Protesters ‘Besiege’ Police HQ (AFP)

Hong Kong police on Saturday slammed anti-government protesters for besieging their headquarters, calling the demonstration “illegal and irrational” as they vowed to pursue the ringleaders. “Police have shown the greatest tolerance of protesters who assembled outside PHQ (police headquarters) but their means of expressing views has become illegal, irrational and unreasonable,” the city’s police said in a statement. “Police will stringently follow up on these illegal activities.” Thousands of protesters blockaded the police headquarters throughout Friday and into the small hours of Saturday morning, the latest manifestation of angry demonstrations sweeping the city.


The international finance hub has been rocked by the worst political unrest since its 1997 handover to China. Millions have marched this month to oppose a proposed law that would have allowed extraditions to the Chinese mainland. Officers had used tear gas and rubber bullets last week to clear protesters during a massive demonstration outside the city’s parliament, sparking widespread anger against the police force. [..] During Friday’s demonstrations outside their headquarters, large crowds of protesters blockaded entrances, taped over CCTV cameras and shouted at police. Many chanted “release the righteous” and “shame on police thugs” — references to those detained during violence last week between demonstrators and the police. Officers remained inside their fortified building throughout.

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“The corporate wing of the Democratic party is publicly ‘anybody but Bernie’.”

Bernie Sanders Faces Mounting Opposition From Moderate Democrats (G.)

Moderate Democrats have stepped up their opposition to Bernie Sanders as part of a concerted effort to isolate him from the sprawling field of otherwise “mainstream” and “electable” presidential candidates running for their party’s nomination in 2020. Last week, Sanders delivered a searing defense of democratic socialism that set himself apart from the rest of the Democratic party, whose opposition he said he not only anticipated but welcomed. Days later, at a gathering of nearly 250 political moderates convened by the centrist thinktank Third Way in South Carolina, some of the party’s most prominent center-left voices took the bait.

“I believe a gay midwestern mayor can beat [Donald] Trump. I believe an African American senator can beat Trump. I believe a western governor, a female senator, a member of Congress, a Latino Texan or a former vice-president can beat Trump,” said Jon Cowan, president of Third Way, hours before Donald Trump formally launched his re-election campaign with a rally in Orlando, Florida, on Tuesday. “But I don’t believe a self-described democratic socialist can win.” In speeches and on panels over the course of two sticky days in Charleston earlier this week, moderate lawmakers, strategists and donors inveighed against the Vermont senator’s populist economic vision.

The approach elevated a conversation that has largely taken place behind closed doors about how to thwart Sanders, who moderates believe would alienate crucial voting blocs in a general election. “He has made it his mission to either get the nomination or to remake the party in his image as a democratic socialist,” Cowan told the Guardian. “That is an existential threat to the future of the Democratic party for the next generation.” [..] “The cat is out of the bag,” Sanders tweeted on Wednesday, sharing a Politico story about how mainstream Democrats are warming to Elizabeth Warren, his closest ideological ally. “The corporate wing of the Democratic party is publicly ‘anybody but Bernie’.”

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Free the coup plotters so they can do it again?!

UN Rights Chief Says Venezuela Should Release Jailed Opponents (AFP)

UN High Commissioner for Human Rights Michelle Bachelet called on Venezuela to release jailed dissidents Friday and said the crisis-wracked country faced a “serious” humanitarian situation. Her comments came at the end of a three-day visit to the country on the invitation of embattled President Nicolas Maduro, who has faced allegations of cracking down on political opponents amid rampant hyperinflation and shortages of basic goods. “I call on the authorities to release all those who are detained or deprived of their liberty for exercising their civil rights in a peaceful manner,” said Bachelet, referring to the hundreds of Maduro government opponents who are currently incarcerated.

The UN rights chief met relatives of these detainees, many of whom are accused of “conspiracy” to overthrow the government. She also spoke with relatives of people who died during the anti-Maduro protests of 2017. Rights groups had pushed Bachelet to raise the issue of 715 people they say have been jailed for political reasons, a claim Maduro’s government rejects. [..] Bachelet has previously criticized the government’s response to the crisis and called for Caracas to respect “everyone’s fundamental right to peaceful assembly and freedom of expression.”

Yet it was the Maduro government who invited her to Venezuela, saying the visit would be an opportunity to show its adherence to human rights and the “negative repercussions” of sanctions that prevent it from selling its oil to the United States. Bachelet has also been critical of US sanctions against Maduro imposed by President Donald Trump, raising concerns that restrictions on trade with Venezuela could have negative repercussions for the general population in a country where 96 percent of the budget is based on oil. During her visit, Bachelet also met with opposition leader Juan Guaido, who is recognized as Venezuela’s interim president by some 50 countries, including the United States.

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“..an 8-meter (26-foot) pregnant sperm whale was found dead off Sardinia in March with 22 kilograms (48.5 pounds) of plastic in its stomach..”

Lethal Plastic Trash Now Common In Greece’s Whales (AP)

A study of whales and dolphins that have washed up dead in Greece over a 20-year period has found alarmingly high levels of plastic trash — mostly bags — in the animals’ stomachs, which can condemn them to a slow and painful death. In the worst case, a researcher said Friday, a 5.3-meter (17-foot) young sperm whale beached on the Aegean island of Mykonos had swallowed 135 plastic items weighing a total of 3.2 kilograms (7 pounds). This blocked its stomach, grossly distending it, while the animal itself was emaciated and had starved to death. Sperm whales are an endangered species already at high risk in the Mediterranean from deadly collisions with ships, entanglement in drift fishing nets and noise pollution from oil and gas exploration.


The study published in the Marine Pollution Bulletin, which organizers say was the first on such a scale in the Mediterranean, found that sperm whales were also the species worst affected by plastic ingestion. Six out of ten specimens were found to have consumed plastics according to Alexandros Frantzis, scientific director of the Athens-based Pelagos Cetacean Research Institute that conducted the research. “The amount of (debris) we found is very high, and should set off an alarm,” he told The Associated Press. “It is now something common. … It’s not just that some random animal swallowed plastic.” Frantzis is a prominent whale and dolphin expert known for first linking fatal whale beachings to the use of military sonar by warships. In a separate incident outside the scope of the Greek study, an 8-meter (26-foot) pregnant sperm whale was found dead off Sardinia in March with 22 kilograms (48.5 pounds) of plastic in its stomach.


Researchers Alexandros Frantzis and Voula Alexiadou lie on a tennis court next to the plastic that was in the stomach of a dead sperm whale found on the Aegean Sea island of Mykonos. The collection includes a Greek souvlaki restaurant bag, Turkish trash bags and biscuit packaging. (Pelagos Cetacean Research Institute via AP)

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Jun 212019
 
 June 21, 2019  Posted by at 8:24 pm Primers Tagged with: , , , , , , , , , , ,  


Pablo Picasso Femme aux bras leves- Tête de Dora Maar- 1936

 

As a nation, you’re certifiedly (is that a word?!) in deep trouble if and when Donald Trump is your most peaceloving man. But nevertheless, that is America today. It all harks back to the days when Trump was first -grudgingly and painstakingly- recognized as an actual presidential candidate.

He campaigned as a man who would end the costly and neverending decades-old and counting US wars far away from American shores and territory. He hasn’t lived up to those campaign goals at all, far from it, and he hired doofuses like John Bolton and Mike Pompeo to show everyone that he didn’t, but in the early hours of June 21 2019 he apparently decided at the last minute that it just didn’t add up.

You don’t kill 150 people because someone destroyed a piece of machinery, he got that right. I vividly remember writing a hundred times that a country of 320 million people that can’t come up with a better president than Trump has a behemoth problem. I also remember saying that Trump himself is not that problem, it’s the system that gave rise to him and his popularity. A war-hungry-system, that is, which has pervaded Washington DC.

And there is absolutely nothing that tells me anything has changed in that system. There are hearings and investigations all over the place, right now from Hope Hicks to Jerry Nadler, but none of them are geared towards trying to make peace with Iran or Russia or China, or anyone else. None.

 

Trump’s domestic opponents don’t appear to want peace, not those in the Democratic party, and not those in the MSM, or at least not anyone I’ve seen, other than Tulsi Gabbard. I haven’t seen a word from Nadler or Pelosi trying to coax Trump away from bomb bombing Iran, and diddly squat from the NYT or WashPo either. But sure, tell me what you’ve seen that contradicts that.

Which means he’s on his own, fighting off not only Bolton and Pompeo, but the entire opposition as well. So far he’s done just that. But how much longer can he, when both sides of the aisle continue to call for blood? I find that a hard call to make. I don’t think Trump wants his presidency to be about starting WWIII, but there are so many others calling on him to make it just that.

I said a while ago to a friend that the US invading Iran would be the end of the US, not in 2 days or week, or even 2 years, but in 20 years surely. Because doing so would change the entire power structure in the Middle East so much it would become unrecognizable.

The terribly odd couple of Benjamin Netanyahu and MBS may think they can conquer the region if only Trump sends Americans kids to die there, but they’re as wrong as they are about anything else. Iran is where it is, and it won’t move or budge. It’s just 40 years ago the country rid itself from the US-installed Shah and his SS-like Savak secret services.

Iranians, Persians, have a very deep-seated aversion and -to put it exceedingly mildly- hatred of the US, and they have good reason to. The Shah unleashed pure terror upon “his” entire people, at the benefit of US Big Oil.

 

The only constructive thing the US can do at this point in time is to go talk to Iran, in open and honest discussions. The US will want to do that because Iran is the heart of the Middle East. Just ask Russia and China, they understand that point. Very well even.

Bombing Iran won’t lead to anything at all, other than the demise of the US, down the road. These people will not succumb, and Russia and China will make sure they won’t have to. And Trump’s declaration of US military capabilities being “superior” is just words (or as they say stateside “hogwash”).

The US military ceased being “superior” a long time ago, simply because Raytheon and Boeing et al develop weapons for profit, whereas Russia and China develop them for defense purposes, and at 10% of the price. That single “little” difference will do the US in. Promise.

America needs to start talking. About trade, about weapons, about everything. Maybe Trump can do that. Maybe not. But he won’t be able to do anything by threatening countries like iran who already have nothing left but their backs to a wall.

Trump appears to have some good points vis-a-vis China and trade talks. He has some very bad points vs Russia and the sanctions. He MUST retreat when it comes to Iran, because it would become a much deeper swamp than Washington could ever be.

And it would end any idea of a positive legacy of his presidency. And his grand kids would be far worse off. And and and. But if he would do it regardless, it would only be an extension of US presidential politics as it has has been going on for many decades. So what’s to win, and what’s to lose? You trust a 73-year old burger flipper with that assessment?

 

 

 

 

Jun 132019
 


Caravaggio The Denial of St. Peter 1610

 

UK Government Signs Julian Assange’s Extradition Papers (SBS)
ABC Raids A Wake-Up Call To Journalists Who Left Assange Swinging (SMH)
The Thought Police Are Coming (Chris Hedges)
A Recession Shock Could Wipe 30% Off US Stocks – Oxford Economics (MW)
The Fed Can’t Save Us –John Rubino (USAW)
1/3 of Americans Need A “Side Hustle” To Make Ends Meet (SHTF)
Trump Says Foreign ‘Dirt’ Not Election Interference (ZH)
John Bolton’s Long Goodbye (Kiriakou)
UK Labour Loses Vote To Prevent Future Tory PM Forcing Through No Deal (Ind.)
Leaked Cabinet Note: UK Not Ready For No-Deal Brexit On October 31 (Ind.)
Macron Wants EU Ties With Moscow Independent of NATO & US (RT)
Australia Approves Vast Coal Mine Near Great Barrier Reef (AFP)
You May Be Eating A Credit Card’s Worth Of Plastic Each Week (R.)
Troubling Levels Of Glyphosate In Foods Marketed To Children (RT)

 

 

Does the UK still operate under the rule of law? Does any western nation?

UK Government Signs Julian Assange’s Extradition Papers (SBS)

British Home Secretary Sajid Javid told BBC Radio 4’s Today that he has signed Julian Assange’s extradition order. “The final decision is now with the courts,” Mr Javid said. It is unclear whether the WikiLeaks founder will be sent to Sweden or the US. It was earlier reported that the US had formally submitted an extradition request to the UK for the WikiLeaks founder. Mr Assange faces an 18-count indictment that accuses him of soliciting and publishing classified information and of conspiring with former Army private Chelsea Manning to crack a Defense Department computer password. That indictment, which includes Espionage Act charges, was issued by the Justice Department last month and is pending in a federal court in Alexandria, Virginia.


The extradition request had been expected ever since US authorities first announced a criminal case against Mr Assange. [..] The United States will detail all the charges against Mr Assange when it seeks his extradition in a London court on Friday, the editor of the whistleblowers’ website said on Tuesday. “The American authorities, the Department of Justice, will present the evidence in support of their extradition demand,” Kristinn Hrafnsson told reporters. The US Justice Department confirmed on Tuesday that it had submitted a formal extradition request. The 47-year-old Australian is not expected to attend Friday’s hearing but could take part from prison via video link, although it will be largely procedural. The “first real confrontation of arguments” in court will not be for several weeks or months, Mr Hrafnsson said.

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“Assange, the outsider, did much more than that, he laid the path for the future of journalism, where journalists would be expected to produce primary source documents, wherever possible, and horror of all horrors, share them with the public.”

ABC Raids A Wake-Up Call To Journalists Who Left Assange Swinging (SMH)

The federal police raid on the ABC last week produced an unexpected benefit. Journalists are being forced to decide: whose side are they on. And where do they stand on fundamental issues of disclosure and the public’s right to know? When the executive producer of Australia’s most highly regarded current affairs program Four Corners retweeted that WikiLeaks founder Julian Assange was “Putin’s bitch” – a tweet she later removed – it said much about the state of journalism in Australia. The re-post, echoing a view held by many Australian journalists, followed a Four Corners interview with Hillary Clinton in which she was given full rein to attack Assange. Clinton was angry that WikiLeaks had revealed through a series of leaked Democratic Party emails that the party executive had given her help to defeat her main rival Senator Bernie Sanders for the party’s nomination – and helped the campaign of Donald Trump.

While the former presidential candidate was challenged on emails relating to her controversial involvement with the Clinton Foundation, never once was it pointed out that the Democratic Party emails revealed how she had been an active beneficiary of deeply unethical behaviour inside the party. What state have we reached where Assange, a journalist, facing his next extradition hearing in London on Friday, should be so reviled? It is dangerous territory for journalism. The insults thrown by Trump that journalists were the enemy of the American people might have been self-serving, but clearly the old notion that journalists mainly represent ordinary people against the powerful is in many cases something of the past. Just as the political parties have shifted to the right, so too have many journalists.

What so enrages the journalists’ “club” is the challenge from those who question their power, journalists like Assange. His revelations threatened them. But Assange, the outsider, did much more than that, he laid the path for the future of journalism, where journalists would be expected to produce primary source documents, wherever possible, and horror of all horrors, share them with the public. The internet made this possible, but for those who were holding out against the inevitable rise of this new form of communications, it posed a huge threat to the old order. Assange was not interested in off-the-record briefings from government insiders. He wanted to show the original documents to practise what he called Scientific Journalism.

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Very strong from Chris Hedges. A talk Tuesday, June 11, at an event held in London in support of Julian Assange.

The Thought Police Are Coming (Chris Hedges)

Ask the Iraqi parents of Sabiha Hamed Salih, aged 15, and Ashwaq Hamed Salih, aged 16, who were killed by shrapnel in Baghdad on July 31, 2004, what they think of Julian Assange. Ask the man and his two young daughters who saw their wife and mother shot to death and were themselves wounded in a car fired upon by U.S. Marines in Fallujah on July 22, 2005, what they think of Julian Assange. Ask the parents of Huda Haleem, an 18-year-old girl, and Raghad Muhamad Haleem, a 5-year-old boy, shot dead by U.S. soldiers on June 2, 2006, in Iraq’s Diyala province what they think of Julian Assange. Ask the parents of the 15-year-old boy choked with a wire and then shot to death by U.S. Marines in Ramadi on Aug. 10, 2006, what they think of Julian Assange.

Ask the relatives of Ahmed Salam Mohammad, who was shot dead on Nov. 27, 2006, when U.S. troops attacked a wedding party near Mosul, an attack that also left four wounded, what they think of Julian Assange. Ask the families of the over one dozen people shot to death with .50-caliber machine guns by bantering U.S. Apache helicopter crews in east Baghdad in July 2007—the crew members can be heard laughing at the “dead bastards” and saying “light ’em up” and “keep shooting, keep shooting”—a massacre that included two journalists for Reuters—Namir Noor-Eldeen and Saeed Chmagh—what they think of Julian Assange. Ask the then 10-year-old Sajad Mutashar and his 5-year-old sister, Doaha, both wounded, whose 43-year-old father, Saleh, was shot to death from the air as he attempted to assist one of the wounded men in the Baghdad street what they think of Julian Assange.

There is nothing like the boot of the oppressor on your neck to give you moral clarity. None of these war crimes, and hundreds more reported to the U.S. military but never investigated, would have been made public without Julian, Chelsea Manning and WikiLeaks. That is the role of journalists—to give a voice to those who without us would have no voice, to hold the powerful to account, to give the forgotten and the demonized justice, to speak the truth. We have watched over the last decade as freedom of the press and legal protection for those who expose government abuses and lies have been obliterated by wholesale government surveillance and the criminalizing of the leaking and, with Julian’s persecution, publication of these secrets. The press has been largely emasculated in the United States. The repeated use of the Espionage Act, especially under the Obama administration, to charge and sentence whistleblowers has shut down our ability to shine a light into the inner workings of power and empire.

Governmental officials with a conscience, knowing all of their communications are monitored, captured and stored by intelligence agencies, are too frightened to reach out to reporters. The last line of defense lies with those with the skills that allow them to burrow into the records of the security and surveillance state and with the courage to make them public, such as Edward Snowden, Chelsea Manning and Jeremy Hammond, now serving a 10-year prison term in the United States for hacking into the Texas-based private security firm Strategic Forecasting Inc., or Stratfor. The price of resistance is high not only for them, but for those such as Julian willing to publish this information. As Sarah Harrison has pointed out: “This is our data, our information, our history. We must fight to own it.”

Even if Julian were odious, which he is not, even if he carried out a sexual offense, which he did not, even if he was a poor houseguest—a bizarre term for a man trapped in a small room for nearly seven years under house arrest—which he was not, it would make no difference. Julian is not being persecuted for his vices. He is being persecuted for his virtues.

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Make it an even 60%.

A Recession Shock Could Wipe 30% Off US Stocks – Oxford Economics (MW)

[..] they’ve got a couple of grim worst-case scenarios. One envisages the U.S. economy slowing sharply from the third quarter of this year, then falling into recession as corporate profits, hitting business and investor sentiment. The fallout from this could trigger a 30% drop in the S&P 500 in the third quarter. Within a year the U.S. would be in recession, with the Fed cutting interest rates aggressively to “stave off the worst of the shock,” says the economic forecasters. The other downbeat scenario pictures bleak fallout from a trade-war escalation.


The U.S. slaps a 25% tariff on China and Mexico imports, and a 10% blanket tariff on Europe goods, and 25% on non-North American cars. Based on those assumptions, U.S. stocks could be 15% lower by late 2019, the firm says. But let’s leave things on a happy note. Under yet one more scenario they predict further stimulus from China, de-escalation in trade tensions supportive policy from central banks and much improved investor sentiment across the globe. All that good news could mean a boost in the high single digit percentage ballpark by the first quarter of 2020.

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The Fed is not trying to save “us”.

The Fed Can’t Save Us –John Rubino (USAW)

“The next recession is overdue because this is the longest expansion on record. . . . We loaded up car buyers with sub-prime loans. Students now have $1.5 trillion of student debt. Credit card debt is at record levels. Government debt is at record levels. Corporate debt is at record levels. . . . All of these guys have borrowed more money than they ever have in history. So, the idea we are going to convince people to borrow a lot more money by lowering interest rates is at best problematic and at worst insane. We are headed that way because they have no other tools. So, when things slow down, they are going to start cutting again and printing money and buying up assets with that money. We’ll see if it works again. It shouldn’t have worked the last time. . . . We are in a range of unexplored numbers. . . . How much further can this go? Is there a limit out there? We are going to find out in the next recession.”


Rubino is not impressed with the Federal Reserve’s latest promise to slash interest rates and print money to save a teetering economy. Rubino contends, “The markets ought to be terrified by this, but in the U.S. because the rates are not yet zero, the market is not yet terrified. We are not far from 0%. . . . The Fed can’t save us. We’re at the point now where we would be at a 1930’s style depression or a Weimar Germany hyperinflation or something new and equally bad. We have taken on insane amounts of debt, more than any society in history has ever tried to take on. So, we just don’t know what is going to happen. If the central banks cannot stop the next recession, we will find out what happens when this much debt goes bad. . . . The Fed’s biggest fear is that things will spin out of control, and they won’t have the tools to stop it.”

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Is all income tax “theft”?

1/3 of Americans Need A “Side Hustle” To Make Ends Meet (SHTF)

Imagine a world in which you could keep every single penny that the fruits of your own labor produced. That would be a world without income taxation making it much easier for the average American to get by. Instead, we live in a world where nothing goes untaxed. About 1/3 of Americans say that their expenses are so high that after the theft of the federal government from their paychecks, they need a “side hustle” to make ends meet. According to Bankrate, side hustlers make $1,122 per month on average from their part-time work — up from $686 last year. But if Americans were given the right to no longer be stolen from, and got to keep their own money, most wouldn’t need a side hustle or part-time work to get by.


Nearly half, 45%, of U.S. workers earn additional income outside of their primary career, a recent Bankrate survey found. This includes 48% of millennials. The percentage of Gen Xers and baby boomers with a side hustle is slightly lower, coming in at 39% and 28%, respectively. “A lot of people are working side hustles because even though the economy is strong, wages are stagnant,” Amanda Dixon, an analyst at Bankrate, told MarketWatch. “For a lot of Americans, expenses are rising, but there are no raises at work.” And heaven forbid the government stops raiding our income. That won’t be a suggestion the lapdog media will toss around either. However, if humans own themselves, they have the right to the fruits of their labor regardless of the edicts of the political elitists.

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Not Tyler’s best headline. Why use the word ‘dirt’? ‘Info’ will do.

Trump Says Foreign ‘Dirt’ Not Election Interference (ZH)

President Trump told ABC News’s George Stephanopoulos in an Oval Office interview that he might not call the FBI if foreign governments offered damaging information against his rivals in the upcoming 2020 election. While initially suggesting it would be absurd to call the FBI instead of taking the information, Trump said “I think maybe you do both,” adding “I think you might want to listen, there isn’t anything wrong with listening.” “If somebody called from a country, Norway, [and said] ‘we have information on your opponent’ — oh, I think I’d want to hear it.”

Trump also pushed back on the notion that opposition research provided by a foreign government would be considered election interference – saying “It’s not an interference, they have information — I think I’d take it,” adding “If I thought there was something wrong, I’d go maybe to the FBI — if I thought there was something wrong.” President Trump lamented the attention on his son, Donald Trump Jr., for his role in the now-infamous Trump Tower meeting in June 2016. Stephanopoulos asked whether Trump Jr. should have taken the Russians’ offer for “dirt” on then-candidate Hillary Clinton to the FBI. “Somebody comes up and says, ‘hey, I have information on your opponent,’ do you call the FBI?” Trump responded.

“I’ll tell you what, I’ve seen a lot of things over my life. I don’t think in my whole life I’ve ever called the FBI. In my whole life. You don’t call the FBI. You throw somebody out of your office, you do whatever you do,” Trump continued. “Oh, give me a break – life doesn’t work that way.” -ABC News When Stephanopoulos pointed out that FBI Director Christopher Wray said that a candidate should call the FBI in regards to foreign-sourced oppo-research, Trump said: “The FBI director is wrong, because frankly it doesn’t happen like that in life,” adding “Now maybe it will start happening, maybe today you’d think differently.” Trump then claimed that “if you go talk honestly to Congressmen, they all do it, they always have,” adding “That’s the way it is, it’s called oppo-research.”

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“My people think there could have been a violation. I view it differently.”

John Bolton’s Long Goodbye (Kiriakou)

[Bolton] said in a Wall Street Journal podcast that he believes five countries are spreading “lies about dysfunction in the Trump administration.” Those countries are North Korea, Iran, Venezuela, Russia, and China. That’s laughable. What Bolton is saying is that there is a vast and incredibly well-coordinated international conspiracy that includes some of the most important countries in the world, the main purpose of which is to embarrass him. That sounds perfectly rational, right? Of course, a more rational person might conclude that Bolton has done a terrible job, that the people around him have done a terrible job, that he has aired his disagreements with Trump in the media, and that the President is angry about it. That’s the more likely scenario.

Here’s what my friends are saying. Trump is concerned, like any president is near the end of his term, about his legacy. He said during the campaign that he wanted to be the president who pulled the country out of its two longest wars. He wanted to declare victory and bring the troops back from Afghanistan and Iraq. He hasn’t done that, largely at the insistence of Bolton. Here we are three years later and we’re still stuck in both of those countries. Second, my friends say that Trump wants to end U.S. involvement in the Yemen war, but that Bolton has been insistent that the only way to guarantee the closeness of the U.S. relationships with Saudi Arabia and the United Arab Emirates is to keep providing those countries with weapons, aerial refueling planes, and intelligence support.

Third, the mainstream media has accused Bolton of being the reason behind the failure of Trump’s second summit with North Korean leader Kim Jong-un. Bolton towed a hard line, so much so that the North Korean media called him a “war monger” and a “human defect” once the summit ended. This week Trump told reporters gathered on the White House south lawn that Kim had “kept his word” on nuclear and missile testing. This was a direct contradiction of Bolton, who had said just hours earlier that the North Koreans had reneged on their commitments to the U.S. Trump said simply, “My people think there could have been a violation. I view it differently.”

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All it takes is 11 votes. Out of 607.

UK Labour Loses Vote To Prevent Future Tory PM Forcing Through No Deal (Ind.)

Opposition MPs have lost a critical vote on a bid to prevent a future Conservative prime minister from forcing through a no-deal Brexit. Labour introduced a motion paving the way for parliament to block a chaotic Brexit by seizing control of the Commons timetable on 25 June. But MPs rejected the cross-party effort by 309 votes to 298, in a blow to hopes of preventing a Brexiteer prime minister from taking the UK out of the EU without a deal in October. Eight Labour MPs voted against the cross-party motion and a further 13 did not vote. Ten Conservative backbenchers rebelled to back the motion. Jeremy Corbyn could be heard admonishing Tory MPs when the result was called, saying: “You won’t be cheering in September.”


The move came after several Tory leadership hopefuls refused to rule out suspending parliament to prevent MPs from blocking a no-deal Brexit in September. Dominic Raab, the former Brexit secretary, and Esther McVey, the ex-work and pensions secretary, have both said parliament could be prorogued to ensure the UK leaves by the 31 October deadline. Sir Keir Starmer, shadow Brexit secretary, said: “This is a disappointing, narrow defeat. “But this is just the start, not the end of our efforts to block no deal. Labour stands ready to use whatever mechanism it can to protect jobs, the economy and communities from the disastrous consequences of a no-deal Brexit.

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All they did was bicker for 3 years. Of course they’re not ready.

Leaked Cabinet Note: UK Not Ready For No-Deal Brexit On October 31 (Ind.)

It will take “six to eight months” to build up supplies of medicines for a no-deal Brexit, a leaked cabinet note says – undermining Boris Johnson’s threat to crash out of the EU on 31 October. The warning says the pharmaceutical industry needs that period of help from the government “to ensure adequate arrangements are in place to build stockpiles of medicines”. It also says that it would take “at least 4-5 months” to make traders ready for the new border checks that might be required, including incentives to register for fresh schemes. The note was revealed by The Financial Times as Mr Johnson – the overwhelming favourite to succeed Theresa May – launched his campaign on a pledge to leave the EU on 31 October “deal or no deal”.


It states that, while government departments had delivered around 85 per cent of their “core no-deal plans”, many of those provided only “a minimum viable level of capability”. Prepared for a cabinet discussion on 21 May, it was never circulated because Ms May was concentrating at the time on her doomed attempt to force through her withdrawal agreement. After that attempt collapsed, the prime minister announced her plans to resign – throwing the country into the uncertainty of the Tory leadership race. Ed Davey, the Liberal Democrat home affairs spokesman, seized on the note, saying: “This lays bare the utter cynicism of Boris Johnson and his ilk. “They are prepared to talk up crashing out of the EU to further their chances in the Tory leadership contest, despite government documents showing this would lead to shortages of medicines and chaos at our borders.”

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Europe must distance itself from NATO. A tall order. Trump just sent another 1,000 US troops to Poland from Germany.

Macron Wants EU Ties With Moscow Independent of NATO & US (RT)

Europe should think outside NATO dictates and restore relations with Russia, French President Emmanuel Macron stressed, calling for a “strategic debate” with Moscow over mutual areas of concern. “Europe… must build new rules of trust and security with Russia, and should not only agree with NATO,” Macron said in an interview with the Swiss television channel RTS. “It needs to build [relations] only between Europe and Russia.” While noting that disagreements between Moscow and Brussels do exist, in particular over Ukraine, Macron insisted that Russia’s role in world affairs cannot be underestimated.


Europe, the French president stressed, needs Moscow to solve major security issues, as Russia’s highly successful anti-terrorist campaign in Syria has shown. “We need to have a strategic debate, so this week I will have another, long and intense conversation with Vladimir Putin, as the president of France and the G7,” Macron stressed. “There is disagreement among us, but we work together.” “It would not be good to leave Russia to China,” he added, reminding that Europe should “never forget the price [the Soviet Union] paid” in World War II to free the continent from Nazi Germany.

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A lost people. A lost country. Nothing there.

Australia Approves Vast Coal Mine Near Great Barrier Reef (AFP)

Australia approved Thursday the construction of a controversial coal mine near the Great Barrier Reef, paving the way for a dramatic and unfashionable increase in coal exports. Queensland’s government said it had accepted a groundwater management plan for the Indian-owned Adani Carmichael mine — the last major legal hurdle before construction can begin. The project, fiercely debated for almost a decade, comes as investors and even energy companies are moving away from fossil fuels amid concern about the climate. Opponents warn it will create a new generation of coal exports — which will be burned in India and China — contributing to further degrade the planet.


The vast open cut mine is slated to produce up to 60 million tonnes of coal a year, boosting Australia’s already vast exports by around 20 percent. Coupled with the construction of a railway link, it could open up a swathe of Queensland to further exploitation and new mining projects. “If all the coal in the Galilee Basin is burnt it would produce 705 million tonnes of climate pollution each year, which is more than 1.3 times Australia’s annual pollution from all sources, including cars, industry, energy and agriculture,” said the Australian Conservation Foundation.


The Adani coal mine has been under fierce debate – and protest – for almost a decade (AFP Photo/PETER PARKS)

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“In the United States, 94.4 percent of tap water samples contained plastic fibers..” And bottled water is 20x worse.

You May Be Eating A Credit Card’s Worth Of Plastic Each Week (R.)

Plastic pollution is so widespread in the environment that you may be ingesting five grams a week, the equivalent of eating a credit card, a study commissioned by the environmental charity WWF International said on Wednesday. The study by Australia’s University of Newcastle said the largest source of plastic ingestion was drinking water, but another major source was shellfish, which tended to be eaten whole so the plastic in their digestive system was consumed too. “Since 2000, the world has produced as much plastic as all the preceding years combined, a third of which is leaked into nature,” the report said.


The average person could be consuming 1,769 particles of plastic every week from water alone, it said. The amount of plastic pollution varies by location, but nowhere is untouched, said the report, which was based on the conclusions of 52 other studies. In the United States, 94.4 percent of tap water samples contained plastic fibers, with an average of 9.6 fibers per liter. European water was less polluted, with fibers showing up in only 72.2 percent of water samples, and only 3.8 fibers per liter.

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We don’t give a damn about what happened to our kids. That’s just a pose.

Troubling Levels Of Glyphosate In Foods Marketed To Children (RT)

The Environmental Working Group has released findings of research showing “troubling levels of glyphosate, the cancer-causing ingredient in the herbicide Roundup” in food products including children’s breakfast cereals. The Washington, DC-based advocacy group said in a statement released June 12 that the chemical, was detected “in all 21 oat-based cereal and snack products sampled in a new round of testing.” Furthermore, all of the products but four were found to contain levels higher than EWG’s safety threshold for child consumption, which is 160 parts per billion (ppb). The products “Cheerios” and “Honey Nut Cheerios Medley Crunch” were found with the highest glyphosate levels with 729 ppb and 833 ppb respectively.


The findings follow two previous research studies conducted with independent labs conducted last year. Monsanto, the maker of Roundup, was acquired by the German agro-chemical giant Bayer in 2018. “The glyphosate levels in this report are far below the strict limits established by the Environmental Protection Agency (EPA) to protect human health,” a Bayer spokesman told RT when contacted for comment. “Even at the highest level reported by the EWG (833 ppb), an adult would have to eat 158 pounds of the oat-based food every day for the rest of their life to reach the strict limits set by the EPA.”

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May 282019
 
 May 28, 2019  Posted by at 9:36 am Finance Tagged with: , , , , , , , , , , , , , ,  


Photo: Steve Biro

 

 

Abuses Show Assange Case Was Never About Law (J. Cook)
Rumors of War (Kunstler)
In Honor Of Memorial Day, John Bolton Announces 7 New Wars (Babylon Bee)
A Million Americans Could Lose Their Pensions (HP)
Michael Avenatti To Face 2 Arraignments In One Day (Fox)
Canada’s Ontario Province Says Will Sue Opioid Makers (AFP)
Macron and Merkel At Odds Over EU Top Jobs After European Elections (G.)
Ireland Likely To Back Barnier As Head Of European Commission (IT)
Greek PM Comes Unstuck Over Macedonia, Austerity In European Vote (R.)
Icebreakers And The Arctic Power Play (SF)
German Woman With 1,800 Cows Allowed To Stay In India (AFP)
Where Are All The Insects Gone? My Unease Deepens Year By Year (Viney)

 

 

“From the start, Assange faced political persecution.”

Abuses Show Assange Case Was Never About Law (J. Cook)

What is so striking in the Assange coverage is the sheer number of legal anomalies in his case – and these have been accumulating relentlessly from the very start. Almost nothing in his case has gone according to the normal rules of legal procedure. And yet that very revealing fact is never noticed or commented on by the corporate media. You need to have a blind spot the size of Langley, Virginia, not to notice it. If Assange wasn’t the head of Wikileaks, if he hadn’t embarrassed the most important western states and their leaders by divulging their secrets and crimes, if he hadn’t created a platform that allows whistleblowers to reveal the outrages committed by the western power establishment, if he hadn’t undermined that establishment’s control over information dissemination, none of the last 10 years would have followed the course it did.

[..] Assange has been under some form of detention since 2010. Since then, his ability to perform his role as exposer of serial high-level state crimes has been ever more impeded – to the point now that he may never be able to oversee and direct Wikileaks ever again. His current situation – locked up in Belmarsh high-security prison, in solitary confinement and deprived of access to a computer and all meaningful contact with the outside world – is so far based solely on the fact that he committed a minor infraction, breaching his police bail. Such a violation, committed by anyone else, almost never incurs prosecution, let alone a lengthy jail sentence.

So here is a far from complete list – aided by the research of John Pilger, Craig Murray and Caitlin Johnstone – of some of the most glaring anomalies in Assange’s legal troubles. There are 17 of them below. Each might conceivably have been possible in isolation. But taken together they are overwhelming evidence that this was never about enforcing the law. From the start, Assange faced political persecution.

Read more …

Starting energy wars just as you run out of energy.

Rumors of War (Kunstler)

China compressed its version of the industrial revolution into a few decades, catching up to a weary, jaded West that took two hundred years achieving “modernity,” and now it is seeming to surpass us — which is the reason for so much tension and anxiety in our relations. The real news is: we’re all already in the climax of that movie. Nobody will surpass anyone. The reason is the decline of affordable energy to run the stupendously complex systems we have come to rely on. China never had very much petroleum. They import over 10 million barrels a day now, and most of that comes from far far away, having to pass through some very hazardous sea lanes like the Straits of Hormuz and Molucca.

They run things mostly on coal, and they’re well past peak — and let’s not get into the ecological ramifications of what they’re still burning. Even some intelligent observers in the West think that the Chinese have made gigantic strides in alt-energy, and will soon be free of old limits, but that’s a pipe dream. They have met the same disappointments over wind and solar as we have. Alt-energy just doesn’t pencil out money-wise or physics-wise. Plus, you absolutely need fossil fuels to make it happen, even as a science project. The US is smugly and stupidly under the impression that the “shale oil miracle” has put an end to our energy worries.

That comes from a foolish nexus of wishful thinking between a harried populace, a dishonest government, and the aforementioned brain-damaged news media. We want, with all our might, to believe we can keep running the interstate highways, WalMart, Agri-Business, DisneyWorld, the US Military, and suburbia just as they are, forever. So, we spin our reassuring fantasies about “energy independence” and “Saudi America.” Meanwhile, the shale oil companies can’t make a red cent pulling that stuff out of the ground. For the moment, ultra-low interest rate loans, riding on the back of all that wishful thinking, keep the racket going and sustain America’s illusions.

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Wish this was only funny.

In Honor Of Memorial Day, John Bolton Announces 7 New Wars (Babylon Bee)

In a moving speech to honor Memorial Day, National Security Advisor John Bolton announced seven new wars the U.S. will launch in the coming months. It’s customary for military leaders to say a few words on Memorial Day, sometimes thanking past soldiers for their sacrifice or reminding Americans of the price of freedom. This year, Bolton is going above and beyond, actually announcing new unnecessary wars as a special gift to the country on this solemn occasion. Bolton teased wars on Canada, Mexico, England, France, Russia, India, and California, all in honor of the memory of soldiers who have died in past American wars.


The national security advisor said that he selected these countries “kind of at random,” picking the names out of a MAGA hat. “The best way we can remember the fallen is to launch a bunch of new wars and make more fallen,” he said solemnly. “Remember the sacrifice of the soldiers who fought in foreign wars, so that we would have the freedom to launch more foreign wars. They died for your freedoms, they died for your sins. They died so we could attack Iran again.” “Amen.”

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Many millions.

A Million Americans Could Lose Their Pensions (HP)

The mining work also assured him security in old age through retiree health coverage and a defined-benefit pension – crucial perks that made the dangerous work and risk of black lung disease worth undertaking for Brown, who was one of just a few African Americans in his mine. When his injuries forced him into early retirement and onto disability in 2002, the benefits became even more vital. “It was in writing that the pension would be secure,” Brown, now 78, said on a recent afternoon, taking a break from remodeling his bathroom. “A pension ’til I pass away – that was the deal.”

But the pension plan through the United Mine Workers of America that Brown and 86,000 other retirees rely on is on track to be insolvent in about three years, which could result in deep cuts to once-guaranteed monthly payments. A growing number of plans are in similarly bad shape. If nothing is done, the coming rash of insolvencies could torpedo part of the Pension Benefit Guaranty Corporation, or PBGC, the government-run corporation that insures defined-benefit pensions. Brown’s is what’s known as a multiemployer pension plan. Anywhere from a handful to hundreds of companies contribute funds to these plans on behalf of their workers, with payments negotiated through union contracts.

The plans are common in the construction, transportation and service sectors, providing a portable benefit in cyclical industries where workers frequently change jobs. But many plans have run into trouble, losing their stream of income, as industries change and unionized employers go out of business. While most of the 1,400 multiemployer plans in the U.S. are not in any danger, some 130 plans are projected to be insolvent within 15 to 20 years. The PBGC’s multiemployer insurance program, which would need to step in to help cover pension payments for those plans, is expected to go under by 2025 if lawmakers don’t intervene with a plan to save it.

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Do the MSM have anything on their former princeling?

Michael Avenatti To Face 2 Arraignments In One Day (Fox)

Embattled attorney Michael Avenatti will have a busy day in Manhattan federal court Tuesday afternoon — but as a defendant, not as counsel. Avenatti, 49, is scheduled to be arraigned on charges that he stole nearly $300,000 from adult film actress Stormy Daniels, the client who rocketed him to national prominence. Approximately three-and-a-half hours later, Avenatti is scheduled to be arraigned on charges that he tried to extort up to $25 million from athletic apparel giant Nike by threatening to expose claims that the shoemaker paid off high school basketball players to steer them to Nike-sponsored colleges.

In the Nike case, Avenatti is charged with one count of extortion, one count of sending interstate communications with intent to extort and two counts of conspiracy. In the Stormy Daniels case, he is charged with one count of wire fraud and one count of aggravated identity theft. If convicted on all counts, Avenatti could face a total of 69 years in prison. Avenatti repeatedly has denied any wrongdoing and is expected to plead not guilty to all charges. [..] Avenatti was indicted formally in the Nike matter this past Wednesday. That same day, prosecutors indicted him in the Daniels case, in which they claimed Avenatti stole two payments totaling $297,500 from an advance Daniels was supposed to receive from a book deal in the summer of 2018.

Court documents said Avenatti gave Daniels’ literary agent a doctored letter with her signature directing the agent to divert the money to an account controlled by Avenatti. The lawyer then allegedly spent the money “on airfare, hotels, car services, restaurants and meal delivery, online retailers, payroll for his law firm and another business he owned, and insurance.”

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“More than 10,000 Canadians have died of opioid-related overdoses since 2016..”

Canada’s Ontario Province Says Will Sue Opioid Makers (AFP)

Canada’s most populous province of Ontario on Monday announced plans to sue opioid makers to recover health care costs related to the deadly addiction epidemic. Ontario’s attorney general, Caroline Mulroney, said the province will join a lawsuit launched last year by British Columbia against more than 40 opioid manufacturers and wholesalers. “The opioid crisis has cost the people of Ontario enormously, both in terms of lives lost and its impact on health care’s front lines,” Mulroney said. She unveiled legislation to set up the legal action “to battle the ongoing opioid crisis and hold manufacturers and wholesalers accountable for their roles in it.”


More than 10,000 Canadians have died of opioid-related overdoses since 2016, according to government figures. Combatting the crisis is estimated to have cost Ottawa nearly Can$400 million (US$300 million). Historically, opioid overdose deaths — mainly from the powerful painkiller fentanyl — were concentrated among drug addicts. But many victims became addicted to prescribed painkillers before turning to street drugs and others were experimenting with recreational drugs for the first time.

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Lobby. Trade. Compromise.

Macron and Merkel At Odds Over EU Top Jobs After European Elections (G.)

Paris and Berlin appear on a collision course over the replacement of Jean-Claude Juncker as president of the European commission after poor results for the centre-right in the European elections damaged Angela Merkel’s choice for the post. The German chancellor’s backing for the German MEP Manfred Weber, who leads the European People’s party of which her CDU party is a member, is facing tough resistance from the French president Emmanuel Macron in the post-election jockeying for top jobs. The EU heads of state and government, including Theresa May, are due to meet on Tuesday night to kickstart their discussions over the leadership of the bloc’s institutions after a set of election results that weakened the grip of the traditional centrist parties on the levers of power in Brussels.


The European People’s party (EPP) remains the largest in the parliament, but during a disappointing night its haul of seats plummeted from 221 in 2014 to 180, prompting Weber to concede that the “centre is shrinking”. The Socialists and Democrats group’s 191 seats five years ago fell to 145 despite surprisingly strong results in Spain and the Netherlands, where they topped the polls. It is the first time in 40 years that the two groups are not able to form a stable majority to allow them to carve up the top jobs and set the legislative agenda. The member states choice for commission president also requires endorsement by a majority in the parliament.

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Macron got rid of Weber. So why would they give him Barnier?

Ireland Likely To Back Barnier As Head Of European Commission (IT)

The [Irish] Government is likely to back Brexit chief negotiator Michel Barnier as the next head of the European Commission if, as expected, the bid of German Manfred Weber falters in the face of French opposition. EU leaders meet in Brussels on Tuesday to discuss who should lead the commission and also the Council of EU leaders for the next five years, while the next head of the European Central Bank will also be discussed. No decisions are expected that evening. Officially, the Government is backing Mr Weber “to the hilt”, says a spokesman, and the Taoiseach Leo Varadkar has repeatedly expressed his support. But privately senior officials acknowledge that his chances are falling away.

Mr Weber is the candidate of the European People’s Party, to which Fine Gael is attached, and under the system known as “spitzenkandidaten” the largest group in the European Parliament should nominate the incoming head of the European Commission. However, it is the Council of EU leaders which actually makes the appointment – to be confirmed by a vote of the parliament – and French president Emmanuel Macron has made his opposition to Mr Weber clear. Though the EPP remains the largest party in the new European Parliament, it suffered significant losses in the elections – a development which will damage Mr Weber, already considered a weak candidate to head the commission, when current president Jean Claude Juncker retires in the autumn.

The commission is the EU’s civil service and its policymaking engine. It is also charged with protecting the treaties. Mr Macron has been lobbying EU leaders on appointments to the EU’s top jobs and dined in Paris last night with the Spanish prime minister, Pedro Sánchez. Though other candidates, such as current competition commissioner Margrethe Vestager, the Dutch socialist Franz Timmermans or Belgian prime minister Charles Michel may be considered, Mr Macron is expected by many to back Mr Barnier, who is also French and a former EPP politician.

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The man who says Yes to everything. Once too often.

Greek PM Comes Unstuck Over Macedonia, Austerity In European Vote (R.)

His leftist Syriza, which stormed the Greek political stage in 2015 on the back of a popular backlash against painful economic reforms, suffered its first major defeat in years to the opposition conservative New Democracy party. Smarting from the fallout, Tsipras has called snap elections, speculated to take place by June 30 at the earliest. The full term of his administration ends in October. In his first appearance after calling the snap poll, a sombre-looking Tsipras told Syriza party faithful on Monday evening: “The crucial thing in life is not if you will fall, but if you will get up.” “I want to ask you all, today, to get up, and regroup, and fight. We very well know we can do it. Because our main strength is that we are defending what is just: our values, the values of the democratic faction and of the left.”

Tsipras is the longest-serving Greek prime minister since the country lurched from crisis to crisis from the onset of financial turmoil in 2010. Political analyst Theodore Couloumbis said that while Tsipras may be hurt, he is not a spent force. “(Syriza) will still remain at the forefront as the second-largest party,” he said. Another analyst, pollster Costas Panagopoulos from ALCO Research, said political parties that do well in European Parliament elections would do better in the national vote, meaning a projection of victory for New Democracy. Once a leftist firebrand, Tsipras, 44, built his career as the crowd-pleaser who stood up to creditors and their austerity demands. But he was forced into a painful new bailout in 2015 months after sweeping to power, when Greece was confronted with a choice of that or being turfed out of the euro zone.

His U-turn went down badly with many voters. A subsequent, deeply unpopular agreement that resolved a long-running country name dispute with North Macedonia also upset many Greek voters. Tsipras signed the so-called Prespes accord last year agreeing to a name change for its Balkan neighbor, resolving a decades-old wrangle which kept Macedonia out of the European Union and NATO. But for many Greeks, it was an unacceptable national defeat and an appropriation of Greek national heritage. A former associate said the Prespes accord was Tsipras’ nemesis. “It was probably one of the most important factors (in the European election outcome),” the former associate said on condition of anonymity.

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Lest we forget.

Icebreakers And The Arctic Power Play (SF)

The Arctic remains one of the few areas of the globe with relatively little human activity and therefore limited prospects for international conflict. Even during the Cold War the Arctic remained comparatively under-resourced by both adversarial blocs. The main theater was Europe, supporting theaters included the Mediterranean and the Middle East, but the Arctic was mainly visited by strategic nuclear platforms such as submarines and bombers which rehearsed their WW3 missions there. The end of the Cold War gradually raised the Arctic’s importance, and it did so for two reasons.

The current multipolar power distribution means the addition of two independent or largely independent political actors, namely the EU and China, and the shifting of the global economic “center of gravity” eastward. This development is increasing Russia’s importance as the economic and political link between the EU and China. However, while the European and Asian economic powerhouses are exploring various forms of economic linkages with Russia serving as a vital component of the relationship, United States is actively seeking to drive a wedge between them by isolating the EU from Russia and therefore also China, and fully subordinating Europe to its economic and political interests.

Whether the EU acquiesces to being merely a US protectorate or asserts its independence remains to be seen, however, in the meantime the Arctic is acquiring importance as a trade route linking Europe and Asia. The second reason for the Arctic’s importance is the presence of considerable reserves of energy resources in the region on which the global economy will depend. National control over these resources or lack thereof will in turn determine the power ranking of the country in question.

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From the same world that you live in.

German Woman With 1,800 Cows Allowed To Stay In India (AFP)

It’s a long way from Berlin to India, where Friederike Irina Bruening devotes her life to sick and abandoned cows. Now, after intervention from the Hindu nationalist government, she has been allowed to stay. “Currently we have around 1,800 cows,” Bruening told AFP from outside the holy city of Mathura in northern India where she keeps the animals. “Between five and 15 are brought in every day.” Bruening, 61, had threatened last week to return a top civilian award for cow protection that she won — the Padma Shri award — after her request for a visa extension was denied. This prompted Foreign Minister Sushma Swaraj to take to Twitter and announce she had “asked for a report”, and on Monday Bruening said she had been issued with a new visa allowing her to remain in India.

Bruening came to India around 25 years ago and says she has since spent around 200,000 euros ($225,000) of her own money over the years on her cow shelter, which costs around $45,000 per month to run. Many of the cows that arrive are blind or have been injured in road accidents, while others are sick from eating the vast amounts of plastic waste littering India. Around half of the new arrivals die. Since coming to power in 2014 one of the signature policies of Prime Minister Narendra Modi, newly re-elected, has been the protection of cows, which for many Hindus are sacred. Laws against the slaughter and consumption of beef have been strengthened, and lynchings of Muslims and low-caste Dalits — who have traditionally been involved in the sector — have risen.

This has prompted many people to abandon old and infirm cows instead of selling them for slaughter, resulting in more of the animals on the loose, including in cities like Delhi where they are a common sight. But Bruening, who has become a Hindu and is known as Sudevi Dasi, said that allowing the slaughter of old or sick cows is not the answer. “Killing a cow is the worse thing you can do,” she said.

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Agriculture had “the cumulative effect of forcing ancient foragers to spend their days carrying water buckets under a scorching sun”.

Where Are All The Insects Gone? My Unease Deepens Year By Year (Viney)

[..] the new and formidably sourced UN report on the destruction of nature seems to have left the human world largely dumbstruck or indifferent. After so many years of chronicling the trends in this column, species by species and habitat by habitat, I find the new figures properly appalling but their message no surprise. Allowed, in old age, to entertain grand if gloomy explanations, I find what is happening entirely consistent with the basic history of our species. This has been set out quite brilliantly by an Israeli academic, Dr Yuval Noah Harari, in his recent and best-selling book, Sapiens: A Brief History of Humankind. Bill Gates recommends it, if that counts.

For more than two million years, as Harari reminds us, various breeds of humans fed themselves by gathering plants and hunting animals, their numbers generally in balance with the rest of the natural world. About 10,000 years ago, Homo sapiens in many separate parts of the planet began to spend their time manipulating the lives of a few edible plants and biddable animals and finding the need to settle down. “Scholars once proclaimed,” writes Harari, “that the agricultural revolution was a great leap forward for humanity [in which] evolution gradually produced ever more intelligent people.” He finds no evidence for this. And the extra food “did not translate into a better diet or more leisure. Rather it translated into population explosions and pampered elites.” It had “the cumulative effect of forcing ancient foragers to spend their days carrying water buckets under a scorching sun”.

One chapter, History’s Biggest Fraud, chronicles the traps set by the long-term pursuit of an easier life. When luxuries become necessities, they spawn new and never-ending obligations. “Humanity’s search for an easier life,” he concludes, “released immense forces of change that transformed the world in ways nobody envisioned or wanted.” Among them, as I see it, is a mindset of expectation, entitlement and addiction to unremitting novelty, matched to the siren imperative of “growth”. With the world population nudging 10 billion by 2050, human usage spread across three-quarters of the planet’s land, and a million plants and animals at risk of extinction, the collapse of global ecosystems seems inevitable.

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May 262019
 


Joseph Mallord William Turner Teasing the Donkey 1827

 

So we’re going to do this all over again? Well, not if I can help it. Not that I have much hope that I can, mind you. As the bastions of war chime on, my voice, like so many others, will be drowned out. The military industrial complex knows how to do propaganda, better than anyone. But I’ll try.

Vietnam gave the US its biggest ever defeat, both militarily and morally, and yet mere years after its deeply humiliating withdrawal was put into action, the country was back at sending its promising young boys and girls not to its school systems, but to far away battle fields to be crippled, traumatized and slaughtered.

I know, I know, the UK and France do that too, but few other places do. Russia today uses its troops to defend its territory, China has yet to reveal its intentions. But the intentions of the US have been known ever since WWII ended.

In 1956, president Eisenhower, himself a longtime military man, warned the country upon taking leave of office, of the military-industrial complex that was threatening to take over its government. Less than 10 years later, that’s exactly what the complex did, and it’s never looked back.

And I’m thinking: you never learned anything at all? Not from Ike, not from Vietnam, not from the non-existent Iraqi WMD, and not from Libya or Syria? How is that even possible? Oh wait, I know, because the New York Times, Washington Post, CNN et al is where you get your so-called news. That’s why. Gotcha.

 

Today, May 26 2019, and I’m deeply ashamed to say it, I have two stories, one concerning a speech by VP Mike Pence at West Point, the other from Caitlin Johnstone about a Twitter thread initiated by the US military itself. Pence’s speech is heart breaking in its ignorance of US history, Caitlin’s is heart wrenching in its acknowledgment of that same history, and what it does to young Americans.

Now, I think this is not about Trump, as many will undoubtedly claim, it’s about Trump and Pelosi and Pence and McCain and Bolton and Hillary and Pompeo and Obama and all of the people hanging around both administrations. Let’s see what YOU think.

Pence To West Point Grads: You Will Fight On a Battlefield for America at Some Point in Your Life

Vice President Mike Pence told the graduating class of the West Point Military Academy on Saturday that the world is “a dangerous place” and they should expect to see combat. “Men and women of West Point, no matter where you’re deployed, you will be the vanguard of freedom, and you know that the “soldier does not bear the sword in vain.” The work you do has never been more important. America will always seek peace, but peace comes through strength. And you are now that strength. It is a virtual certainty that you will fight on a battlefield for America at some point in your life. You will lead soldiers in combat. It will happen.


Some of you will join the fight against radical Islamic terrorists in Afghanistan and Iraq. Some of you will join the fight on the Korean Peninsula and in the Indo-Pacific, where North Korea continues to threaten the peace, and an increasingly militarized China challenges our presence in the region. Some of you will join the fight in Europe, where an aggressive Russia seeks to redraw international boundaries by force. And some of you may even be called upon to serve in this hemisphere. And when that day comes, I know you will move to the sound of the guns and do your duty, and you will fight, and you will win. The American people expect nothing less.”

Mike Pence is a very dangerous person. He’s planning to send American children into endless wars once again, 45-odd years after Vietnam and 20-odd years after Iraq. And there’s no-one left to stop him, other than Trump, Not exactly a solid guarantee. The Democrats will cheer this on, and their media will too. They always have.

Now, I’m not old enough to remember the whole story of the US involvement in Vietnam, but I do recall this 1985 video from Paul Hardcastle, which stated that the average age of the US soldier in Vietnam -towards the end- was 19. I have also seen Coppola’s movie “Apocalypse Now”, and many others, and yes, I’m wondering where today’s versions of these movies are.

 

 

Because, you know, when I read the Twitter thread picked up by Caitlin Johnstone listing what was supposed to be a promo thing from the army, my heart sinks and hurts and in the end is downright defeated. It’s like reading the accounts from Vietnam, and nothing has changed in 50+ years. How can that be? Says innocent me.

But religious nut Mike Pence has the guts to present this as some sort of heroic thing. For young Americans to go die in a desert for nothing at all other than Exxon’s access to oil and the profits of Boeing and Raytheon. And of course they’ve been setting this up for decades, that young kids -certainly blacks- who have no shot at a proper education, can get one only if they agree to become cannon fodder.

That’s ‘Nam, guys, that’s the 1960’s, history. And just look at how terribly that failed. Well, Mike Pence would like to repeat that failure.

The US Army Asked Twitter How Service Has Impacted People. The Answers Were Gut-Wrenching.

After posting a video of a young recruit talking to the camera about how service allows him to better himself “as a man and a warrior”, the US Army tweeted, “How has serving impacted you?” As of this writing, the post has over 5,300 responses. Most of them are heartbreaking. “My daughter was raped while in the army,” said one responder. “They took her to the hospital where an all male staff tried to convince her to give the guy a break because it would ruin his life. She persisted. Wouldn’t back down. Did a tour in Iraq. Now suffers from PTSD.”

“I’ve had the same nightmare almost every night for the past 15 years,” said another. Tweet after tweet after tweet, people used the opportunity that the Army had inadvertently given them to describe how they or their loved one had been chewed up and spit out by a war machine that never cared about them. This article exists solely to document a few of the things that have been posted in that space, partly to help spread public awareness and partly in case the thread gets deleted in the interests of “national security”.

 

“my grandpa served in vietnam from when he was 18–25. he’s 70 now and every night he still has nightmares where he stands up tugging at the curtains or banging on the walls screaming at the top of his lungs for someone to help him. he refuses to talk about his time and when you mention anything about the war to him his face goes white and he has a panic attack. he cries almost every day and night and had to spend 10 years in a psychiatric facility for suicidal ideations from what he saw there.”

 

“My best friend joined the Army straight out of high school because his family was poor & he wanted a college education. He served his time & then some. Just as he was ready to retire he was sent to Iraq. You guys sent him back in a box. It destroyed his children.”

 

“My best friend from high school was denied his mental health treatment and forced to return to a third tour in Iraq, despite having such deep trauma that he could barely function. He took a handful of sleeping pills and shot himself in the head two weeks before deploying.”

If you got the stomach for it, guys, do read it. But I got to tell you, I find it hard.

The US killed millions of people and maimed ten times that in Vietnam, and that very much includes its own young and promising American citizens, and they did it again in Iraq. Mike Pence wants to repeat that in Iran and other theaters. Supported by Pelosi, Pompeo, Schumer, Bolton etc. Shame for them John McCain passed.

There’s only one US presidential candidate who’s explicitly spoken out against this mad repeat of Vietnam, and that’s Tulsi Gabbard, who actually “served” in Iraq. So she will be pushed aside by the DNC. Who are funded by the military industrial complex, don’t you know. Must serve the machine. We have a long way to go.

I always thought that Springsteen talking about Vietnam from Born In The USA is sort of like a haiku, encompassing the essence in just a few words, even if he doesn’t catch all the misery and bloodshed and mental anguish and broken lives and all of it (but how could you?):

 

I had a brother at Khe San;

Fighting off the Viet Cong

They’re still there, he’s all gone

He had a woman he loved in Saigon

I got a picture of him in her arms now

 

I know people older than me have many more examples of this and from the time when the ‘war’ was actually ongoing. Eve of Destruction? Creedence? Please send suggestions.

But also, please recognize the similarities in the madness then and now.

And let’s try and make it stop.

Let’s try and stop history from even rhyming, let alone repeating.

Nassim Taleb likes to point out that in olden days those who declared wars would also be first in line to fight them. By design. The fair thing to do.

Let’s send Mike Pence and Nancy Pelosi and Donald Trump and Chuck Schumer and Mike Pompeo and John Bolton and all of their families into Iran first. And then we can talk.