May 152019
 
 May 15, 2019  Posted by at 10:19 am Finance Tagged with: , , , , , , , , ,  


Claude Monet Meules 1890 (sold for $110 million yesterday)

 

25 White Men In Alabama Senate Vote To Ban Abortion (AP)
62% Of US Millennials Live Paycheck To Paycheck (ZH)
More Than Half Of Greeks Aged 25-34 Live With Parents (K.)
One In Three UK Teenagers ‘Ashamed Of Their Body’ (G.)
May Wants Parliament To Have A Fourth Vote On Her Brexit Deal (G.)
Brexit Armageddon (Jamison)
Donald Trump Jr To Testify Before Senate Committee (AP)
Xi Says ‘No Clash’ Of Civilisations Amid US Trade War (AFP)
China Calls For “People’s War” Against The US (ZH)
The Future Of Food: Jellyfish Supper Delivered By Drone (G.)
Tropical Forests ‘Empty’, Poaching Slashes Large Mammal Populations (Ind.)

 

 

Turns out the Flintstones was a series about the future, not the past.

25 White Men In Alabama Senate Vote To Ban Abortion (AP)

Alabama’s Senate passed a near-total ban on abortion Tuesday, sending what would be the nation’s most stringent abortion law to the state’s Republican governor. The GOP-dominated Senate voted 25-6 to make performing an abortion at any stage of pregnancy a felony punishable by up to 99 years or life in prison for the abortion provider. The only exception would be when the woman’s health is at serious risk. Senators rejected an attempt to add an exception for rape and incest. The amendment was voted down 21-11, with four Republicans joining Democrats.


“You don’t care anything about babies having babies in this state, being raped and incest,” Democratic Sen. Bobby Singleton said on the Senate floor after the amendment’s defeat. “You just aborted the state of Alabama with your rhetoric with this bill.” Bill sponsor Rep. Terri Collins said she expects Gov. Kay Ivey to sign the ban into law. Ivey has not publicly commented on what she’ll do. The lopsided vote suggests a veto could be easily overcome. Ivey spokeswoman Lori Jhons said in a statement after the vote that “the governor intends to withhold comment until she has had a chance to thoroughly review the final version of the bill that passed.”

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I’m more impressed by how much of each generation is dirt poor. It’s not just millenials.

62% Of US Millennials Live Paycheck To Paycheck (ZH)

Almost two-thirds of Millennials are living paycheck to paycheck, and only 38% feel financially secure, according to Charles Schwab’s 2019 Modern Wealth Index Survey. According to the survey, Millennials (ages 23 to 38) seem troubled when it comes to their financial well being. The study examined the finances of 1,000 Americans from different generations, but for our sake, we’re only concentrating on approximately 380 Millennials surveyed by Schwab. Millennials conveniently blamed social media platforms for their dire financial straits. The need to spend was a symptom of fear of missing out (FOMO) of their friend’s experiences seen on social media posts, stories, and or feeds.

“The burden to ‘keep up with the Joneses’ has been part of our culture for decades, but it appears that social media and the fear of missing out (FOMO) have increased the pressure to spend,” said Terri Kallsen, executive vice president and head of Schwab Investor Services. “Spending is not the enemy, but when we allow social pressure or other forces to lure us into spending beyond our means, it can impact long-term financial stability and become a larger problem.” Logica Research conducted the online study for Schwab during the first two weeks in Feburary.

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And a million Greeks earn €200-€500 a month.

More Than Half Of Greeks Aged 25-34 Live With Parents (K.)

More than half of Greeks in their mid-20s to mid-30s live with their parents, a significantly larger proportion than the average of 28.5 percent in the 28-member European Union, according to the results of a survey by the bloc’s statistics service Eurostat which were made public on Tuesday. Specifically, 56.3 percent of Greeks aged 25 to 34 said they lived with their parents in 2018, the highest rate in the EU after Croatia and Slovakia, where the rates were 59.7 percent and 57 percent respectively.


The repercussions of Greece’s economic crisis appear to have played a role in keeping Greeks at home for longer, with statistics pointing to a slight but steady increase from 50.6 percent in 2010 to 53.4 percent in 2015 and 56.3 percent last year. The rate was the lowest in Northern European countries, such as Sweden with 6 percent, Finland on 4.7 percent, and Denmark, where 3.2 percent of the 25-34 age group live with their parents.

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That’s why we call them “social” media.

One In Three UK Teenagers ‘Ashamed Of Their Body’ (G.)

Almost a third of British teenagers feel ashamed of their body, with imagery of “idealised” bodies on social media driving their insecurity, new research has found. The same number of young people have changed their eating habits in an effort to alter how they look, a survey of teenagers undertaken for the Mental Health Foundation (MHF) shows. Experts said the results were alarming, particularly because body image anxiety can trigger self-harm and suicidal thoughts in teenagers. The findings prompted calls for advertisements for weight loss and cosmetic surgery to be vetted and for social media firms to do more to prevent young people feeling bad about their bodies. “Our survey has shown that millions of young people in Britain are worrying about their body image,” said Jane Caro, the foundation’s programme lead for families, children and young people.


“Worries about body image can lead to mental health problems and, in some instances, are linked to self-harm and suicidal thoughts and feelings.” Overall, 31% of 13- to 19-year-olds feel ashamed of their body shape, according to the YouGov survey of 1,118 British teenagers, which was weighted to represent everyone at those ages. Slightly more – 35% – had stopped eating or limited what they ate because they were worried about their body. In addition, 35% of respondents worried about their body often or every day , 37% felt upset and ashamed about it and 40% said remarks by friends had made them worry about their appearance. Two in five said pictures they had seen on social media had made them worry about their body.

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She should see a shrink.

May Wants Parliament To Have A Fourth Vote On Her Brexit Deal (G.)

Theresa May has pledged to give MPs another opportunity to vote on Brexit early next month, with or without Labour’s backing, after Jeremy Corbyn raised concerns about her ability to deliver on a cross-party deal. The prime minister called a meeting with the Labour leader on Tuesday night to take stock of the Brexit negotiations, as the government sought to inject fresh urgency into the process. The pair held an hour-long meeting alongside the two parties’ chief whips. A Labour spokesperson said: “[Corbyn] set out the shadow cabinet’s concerns about the prime minister’s ability to deliver on any compromise agreement. In particular, he raised doubts over the credibility of government commitments, following statements by Conservative MPs and cabinet ministers seeking to replace the prime minister.”


But Downing Street insisted that the government was determined to bring forward the key piece of Brexit legislation – the withdrawal agreement bill – in the week beginning 3 June. “It is imperative we do so then if the UK is to leave the EU before the summer parliamentary recess,” a spokesman said. May’s divided cabinet agreed on Tuesday that the talks with Labour should continue, despite the lack of substantive progress so far, but set a fresh deadline of the summer recess for parliament to pass the bill. The 3 June date for tabling the legislation suggests the government is effectively setting a deadline for achieving progress in the cross-party talks – although neither side is keen to walk away before the European parliament elections on 23 May.

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“..despite the British Prime Minister Theresa May stating over 108 times that the UK would definitely be leaving the EU on March 29th 2019.”

Brexit Armageddon (Jamison)

It has been an appalling period in British politics and government. Unlike any period experienced in living memory. The British State, once high and mighty, lording it over other nations with typical English condescension and patronising arrogance, has well and truly come crashing down to Earth with a very heavy bump thanks to Brexit. It will never be the same again. The defenestration of the British Government and wider British State machine including its intelligence and security services has been a spectacular sight to behold. The credibility of the British State and its democracy has been ripped to shreds. For three years now the British ‘nation’, Parliament, Government, Civil Service, media and economy has been consumed by one issue and one issue alone, whether or not the UK will depart the European Union after the 2016 Referendum.

I say whether or not because after having almost three years to prepare for the UK exit from the EU as voted on by over 17 million British people in the largest and longest democratic exercise in the history of modern British democracy, the ‘fixed’ departure date of March 29th 2019 came and went, despite the British Prime Minister Theresa May stating over 108 times that the UK would definitely be leaving the EU on March 29th 2019. Who will ever be able to take seriously the word of a future British Prime Minister or a future British Government after this utter farce, but deadly serious debacle, on a major national and international scale. The behaviour in its half democratic Parliament has been deeply disturbing and has shown the world that the British are totally irrational and have gone absolutely bonkers.

[..] One matter is very clear throughout this Brexit ordeal. This is a combined collective failure of the United Kingdom as a whole. The British Government and State have failed. British MPs have failed their constituents. British civil servants have failed. The British media have failed. There is no unity, no meaning, no purpose, no discipline and no sense of comradeship in the UK – if there ever truly was. Perhaps it is a society incapable of it and perhaps that is why it deserves to falter and fail with the United Kingdom disintegrating and disappearing for good. Ergo, perhaps it is high time, once and for all for the British State to quit its bad habit of interfering in other nations affairs, far greater nations, while it attempts to put its Brexit house in order.

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They must really not like Mueller, who spent 29 hours questioning Don Jr. What questions did he miss? Don Jr is a piece of crap, but come on.

Donald Trump Jr To Testify Before Senate Committee (AP)

Donald Trump Jr will testify in a closed-door interview with the Senate intelligence committee next month, pulling the two sides back from a confrontation over a subpoena as part of the panel’s Russia investigation. Under the terms of the deal between the president’s son and lawmakers, Trump Jr will talk to the committee in mid-June for up to four hours, according to two people familiar with the agreement. The people spoke on condition of anonymity on Tuesday to discuss the confidential terms.

The deal comes after the panel subpoenaed Trump Jr to discuss answers he gave the panel’s staff in a 2017 interview. He had backed out of interviews twice, prompting the subpoena, according to people familiar with the Senate intelligence committee chairman’s remarks to a GOP luncheon last week. Those people spoke on condition of anonymity to discuss Richard Burr’s remarks in the private senators’ meeting. The deadline for Trump Jr to respond was Monday, according to one of the people familiar with the terms, and he expected to be held in contempt for declining to be interviewed. But the committee reached out Monday evening and the deal was struck.

A spokeswoman for Burr declined to comment. The North Carolina Republican has weathered fierce criticism for the subpoena from the president and his GOP colleagues. Trump said on Tuesday said he believed that his son was being treated poorly. “It’s really a tough situation because my son spent, I guess, over 20 hours testifying about something that Mueller said was 100% OK and now they want him to testify again,” Trump told reporters at the White House before traveling to Louisiana. “I don’t know why. I have no idea why. But it seems very unfair to me.”

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“..the first US “great power competitor that is not Caucasian”.

Xi Says ‘No Clash’ Of Civilisations Amid US Trade War (AFP)

Chinese President Xi Jinping declared Wednesday there was “no clash” of civilisations and denounced racial supremacy as “stupid” amid tensions with the United States and concerns over Beijing’s rising global power. His remarks came after a top-level US official last month described the rivalry between China and the US as “a fight with a really different civilisation and a different ideology”. Kiron Skinner, the director of policy planning at the US State Department, put it in racial terms, telling a security forum that China was the first US “great power competitor that is not Caucasian”.


“Thinking that one’s own race and culture are superior, and insisting on transforming or even replacing other civilisations is stupid in its understanding and disastrous in practice,” Xi said at the opening ceremony of the Conference on Dialogue of Asian Civilisations in Beijing. “There is no clash between different civilisations, (we) just need to have the eye to appreciate the beauty in all civilisations,” he added, without mentioning the United States. Xi’s speech comes less than a week after trade negotiations between Washington and Beijing took a turn for the worse, with the US hiking tariffs on $200 billion in Chinese merchandise and targeting duties on $300 billion more. On Monday, China retaliated with an announcement that it would raise tariffs on $60 billion worth of US goods from June 1.

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This sounds desperate.

China Calls For “People’s War” Against The US (ZH)

While market mood has shifted diametrically from yesterday, with stocks sharply higher on Tuesday following what has widely been interpreted as conciliatory comments from both president Trump and various members of China’s ruling elite, one would be hard pressed to find any de-escalation amid the Chinese press commentaries written in the aftermath of the latest escalation in trade war between the US and China. In a series of editorials and op-ed articles published Monday and Tuesday, Chinese state media slammed what it labeled the Trump administration’s “greed and arrogance”, called for a “people’s war” targeting the US “with precision” as China begins a “fight for a new world.”

“The most important thing is that in the China-US trade war, the US side fights for greed and arrogance … and morale will break at any point. The Chinese side is fighting back to protect its legitimate interests,” the nationalist, state-owned Global Times tabloid wrote . Urging indirect boycott of US goods and services, the editorial slammed Trump and suggested a nation-wide uprising against the US aggression: “The trade war in the US is the creation of one person and one administration, but it affects that country’s entire population. In China, the entire country and all its people are being threatened. For us, this is a real ‘people’s war.'” Whether this means a renewed collapse in Chinese iPhone sales remains to be seen – for confirmation, watch for a new guidance cut from Apple in the coming days.

The Global Times also accused the Trump administration of misleading Americans about the victims of US tariffs. It singled out Larry Kudlow’s interview on “Fox News Sunday” in which Trump’s top economic advisor said that US consumers would also suffer from the trade war, contradicting Trump’s claim that China would foot the bill. More than just a retaliation to “unprovoked” US aggression, China now sees its response as a crusade against the western style of life. During a prime time broadcast on Monday, CNN reported that the state broadcaster CCTV also aired a statement saying that China would “fight for a new world.”

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Progress defines our civilization.

The Future Of Food: Jellyfish Supper Delivered By Drone (G.)

The food of the future could come in the form of stick-on patches and pills or be delivered by intravenous drip, according to a report that predicts what and how we could be eating as far ahead as 150 years from now. Jellyfish suppers washed down with algae milk and bread made from insect protein may eventually become the norm, while shoppers will be able to pick up “lab-grown” meat kits from dedicated supermarket aisles – or get them delivered by drone. The report, commissioned by Sainsbury’s, the UK’s second largest supermarket, with input from futurologists and plant scientists, explores what we will be eating and how food will be produced in 2025, 2050 and in 2169. It predicts that advances in technology and artificial intelligence will allow diets to be personalised and give consumers the option to consume nutrients and vitamins they need through a patch or pill, or in fortified foods.


More of us – driven by unprecedented awareness of animal welfare, health concerns and eco-anxiety – will put the planet first when writing our shopping list, the report says. It notes that current foods are not sustainable for an expanding global population that is predicted to increase to 9 billion in 30 years, and more than 11 billion in the next 150 years. Sainsbury’s predicts that by 2169 it could be routine for people to hold details of their nutritional and health information in a personal microchip embedded in their skin, which will trigger an alert to the supermarket. It would then deliver by drone suitable food and drink based on their planned activities for the coming days.

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“The biggest declines were seen in Western Africa, with more than 70 per cent population reductions.”

Tropical Forests ‘Empty’, Poaching Slashes Large Mammal Populations (Ind.)

Illegal hunting is causing catastrophic declines in mammal populations living in the world’s remaining tropical forests, a new study has warned. Jaguars, leopards, elephants and rhinos have seen population declines of 40 per cent in just 40 years and the study warned that hunting – half of which is done illegally – has left many tropical forests “empty” of wildlife. Even the world’s most pristine jungles are having their ecosystems damaged as key species are wiped out by hunters looking to collect valuable horns and bones, an international team of researchers lead by the Radboud University in Holland, found. Within the tropics, only 20 per cent of remaining habitats are considered intact. “Without adequate measures wildlife hunting will increase in the future,” lead researcher Dr Benítez-López told The Independent.


“Our calculations show that even in protected areas mammal populations could be under hunting pressure, particularly in Western and Central Africa, and South East Asia. If projections of human population growth for Africa are true, the demand will continue to increase. Plus there are many roads planned that will traverse tropical forests.” Until now there were vast understudied areas in the tropics where hunting impacts on mammal communities were unknown, according to the study which is published in the Plos Biology journal. The biggest declines were seen in Western Africa, with more than 70 per cent population reductions. Researchers found primates and pangolins were most at risk.

Read more …

 

Nassim Nicholas Taleb was asked whether public protests in Athens is a Black Swan Event. He replied: “No. The real Black Swan Event is that people are not rioting against the banks in London and New York.”

 

 

 

 

May 142019
 
 May 14, 2019  Posted by at 8:55 am Finance Tagged with: , , , , , , , , , , , , , ,  


Pablo Picasso Napping 1932

 

AG Barr Appoints US Attorney To Investigate FBI/DOJ Spying On Trump (ZH)
Who Were the Mueller Report’s Hired Guns? (RCI)
US Accuses Iran Of Attack On Saudi Tankers (ZH)
Sweden Wants To Extradite Assange Over Rape Allegation (R.)
Lewinsky Scandal Beginning Of The End Of American Journalism – Taibbi (SHTF)
The CNN Search Engine? Google Favors Stories From Liberal News Sites (RT)
The Trend is Not Your Friend (Jim Kunstler)
US Police Raid Venezuelan Embassy To Evict Pro-Maduro Activists (RT)
Britain Risks Heading To US Levels Of Inequality – Angus Deaton (G.)
Theresa May Remains Opposed To Any Form Of Brexit Referendum (G.)
Uber & Lyft IPOs Turn into Colossal Flops (WS)
California Jury Awards Couple $2 Billion In Monsanto/Bayer Cancer Trial (RT)
Bayer Says Monsanto Likely Kept Files On Influential People Across Europe (R.)
German Failure on the Road to a Renewable Future (Spiegel)
415.26 Parts Per Million: CO2 Levels Hit Historic High (AFP)

 

 

To what extent can US intelligence take care of its own? We’re about to find out.

AG Barr Appoints US Attorney To Investigate FBI/DOJ Spying On Trump (ZH)

Attorney General William Barr has appointed US Attorney John H. Durham of Connecticut to examine the origins of the Trump-Russia investigation to determine if the FBI’s spying on the Trump campaign was “lawful and appropriate,” according to Fox News. The move comes as the Trump administration has demanded answers over the use of “informants” on his 2016 campaign. According to Fox, Barr is “serious” and has assembled a team from the DOJ to participate in the probe, adding that Durham is known as a “hard-charging, bulldog” prosecutor according to their source.

“Sources familiar with matter say the focus of the probe includes the pre-transition period – prior to Nov. 7, 2016 – including the use and initiation of informants, as well as potential Foreign Intelligence Surveillance Act (FISA) abuses. An informant working for U.S. intelligence posed as a Cambridge University research assistant in September 2016 to try extracting any possible ties between the Trump campaign and Russia from George Papadopoulos, then a Trump foreign policy adviser, it emerged earlier this month. Papadopoulos told Fox News the informant tried to “seduce” him as part of the “bizarre” episode. Durham previously has investigated law enforcement corruption, the destruction of CIA videotapes and the Boston FBI office’s relationship with mobsters. He is set to continue to serve as the chief federal prosecutor in Connecticut.” -Fox News

Of note – in January House Republicans Jim Jordan and Mark Meadows wrote to Durham, saying that they had “discovered” he was “investigating former FBI General Counsel James Baker” over unauthorized leaks to the media, adding “We know the DOJ and FBI departed from traditional investigative and prosecutorial practices, and insufficiently adhered to the Foreign Intelligence Surveillance Act (FISA). Durham has a history of serving as a special prosecutor, investigating wrongdoing among national security officials – including the FBI’s ties to a Boston crime boss, as well as accusations of CIA detainee abuse. According to the report, Durham’s review would run in parallel with the ongoing DOJ probe by Inspector General (IG) Michael Horowitz. Meanwhile, Republicans have been seeking answers from US Attorney for Utah, John Huber, who was appointed by former AG Jeff Sessions to review FBI and DOJ surveillance abuses, as well as authorities’ handling of the probe into the Clinton Foundation.

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Mueller and Steele. A fine pair. If Mueller really worked with Steele and Fusion GPS, he should be investigated, because he knew they were Hillary assets.

Who Were the Mueller Report’s Hired Guns? (RCI)

[..] The arrangement has led congressional investigators, government watchdog groups and others to speculate that the private investigators and researchers who worked for the special counsel’s office might have included Christopher Steele and Fusion GPS, the private research firm that hired Steele to produce the Russia collusion dossier for the Clinton campaign. U.S. Rep. Devin Nunes, the top Republican on the House Intelligence Committee, said the report should be renamed “The Mueller Dossier,” because he says it contains a lot of similar innuendo. Even though Mueller failed to corroborate key allegations leveled in the dossier, Nunes said his report twists key facts to put a collusion gloss on events.

He also asserted that it selectively quotes from Trump campaign emails and omits exculpatory information in ways that cast the campaign’s activities in the most sinister light. Steele’s 17-memo dossier alleged that the Trump campaign was involved in “a well-developed conspiracy of cooperation” with the Russian government to rig the 2016 presidential election in Trump’s favor. It claimed this conspiracy “was managed on the Trump side by Campaign Chairman Paul Manafort, who was using foreign policy adviser Carter Page and others as intermediaries.” Specifically, the dossier accused Page of secretly meeting with Kremlin officials in July 2016 to hatch a plot to release dirt on Hillary Clinton. And it accused Manafort of being corrupted by Russian President Vladimir Putin through his puppets in the Ukraine.

Likewise, Mueller’s report focuses on Manafort and Page and whether they “committed crimes by colluding with Russian government officials with respect to the Russian government’s efforts to interfere with the 2016 presidential election.” [..] Mueller’s team worked closely with dossier author Steele, a long-retired British intelligence officer who worked for the Clinton campaign. Mueller’s investigators went to London to consult with Steele for at least two days in September 2017 while apparently using his dossier as an investigative road map and central theory to his collusion case. Steele now runs a private research and consulting firm in London, Orbis Business Intelligence. It’s not clear if Mueller’s office paid Steele, but recently released FBI records show the bureau previously made a number of payments to him, and at one point during the 2016 campaign offered him $50,000 to continue his dossier research. Steele was also paid through the Clinton campaign, earning $168,000 for his work on the dossier.

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“Oh, and that would be the Persian Gulf for those wondering, not the Gulf of Tonkin..”

US Accuses Iran Of Attack On Saudi Tankers (ZH)

Update: Just as everyone with half a frontal lobe had expected, the WSJ reported late on Monday that according to an initial U.S. assessment, “Iran was likely behind the attack” on the two Saudi Arabian oil tankers and two other vessels damaged over the weekend near the Strait of Hormuz, a U.S. official said, a finding that, whether confirmed or not, will certainly inflame military tensions in the Gulf and likely result in a global proxy war that drags in the US, China and Russia. Oh, and that would be the Persian Gulf for those wondering, not the Gulf of Tonkin, which is where another famous False Flag naval incident occurred. Furthermore, as we predicted would happen on Sunday, this “official assessment”, was the first suggestion by any nation that Iran was responsible for the attack and follows a series of U.S. warnings against “aggression” by Iran or its allies and proxies against military or commercial vessels in the region.

Some more details from the WSJ: “The U.S. official, who declined to be identified, didn’t offer details about what led to the assessment or its implications for a possible U.S. response. The U.S. has said in the past week that it was sending an aircraft carrier, an amphibious assault ship, a bomber task force and an antimissile system to the region after it alleged intelligence showed Iran posed a threat to its troops. “If they do anything, they will suffer greatly. We’ll see what happens with Iran,” President Trump said while meeting with Hungary’s Prime Minister Viktor Orban at the White House earlier on Monday.”

The assessment, predictable from a mile away, squares perfectly with CIA veteran Mike Pompeo’s warning from just two days before the alleged attack, in which he said that “The regime in Tehran should understand that any attacks by them or their proxies of any identity against US interests or citizens will be answered with a swift and decisive US response,” the US Secretary of State wrote in a statement warning that Iran should not mistake US “restraint” for a “lack of resolve,” and criticizing Iran for “an escalating series of threatening actions and statements in recent weeks.”

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There was a preliminary investigation. The case was closed three times. The word “rape” never came up until propaganda started.

Sweden is a country full of very sick people. I haven’t seen even one raise their voice. Avoid Sweden. Don’t buy IKEA.

Sweden Wants To Extradite Assange Over Rape Allegation (R.)

Sweden reopened an investigation into a rape allegation against WikiLeaks founder Julian Assange on Monday and will seek to extradite him from Britain, a potential setback to efforts by the United States to put him on trial over a huge release of secret documents. Deputy Chief Prosecutor Eva-Marie Persson told a news conference in Stockholm she would continue a preliminary investigation that was dropped in 2017 without charges being brought after Assange took refuge in the Ecuadorean embassy in London. Assange, who denies the accusation, was arrested in Britain last month after spending seven years hiding inside the embassy.


The Swedish prosecutor said she would request Assange be detained in his absence on probable cause for an allegation of rape and that her office would issue a European arrest warrant – the start of the extradition process. The United States is also seeking to extradite him on conspiracy charges relating to the public release by Wikileaks of a cache of secret documents, including assessments of foreign leaders, wars and security matters. The British courts will have to rule on the two extradition requests, with Home Secretary Sajid Javid having the final say on which one takes precedence. “I am well aware of the fact that an extradition process is ongoing in the UK and that he could be extradited to the US,” Persson said.

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Yes, true. But is it all about anger? Or is the anger merely a substitute for identity and belonging?

Lewinsky Scandal Beginning Of The End Of American Journalism – Taibbi (SHTF)

In a new “On Contact” episode, host Chris Hedges and Taibbi dive into the roots of the decay of journalism in the United States, which preys on prejudices and fear while pitting people against each other and paving the way for demagogues. According to RT, Taibbi says this all started back when Bill Clinton was president. From Monica Lewinski to Hillary Clinton, the coverage of major news stories by the U.S. media has grown increasingly strident, with cable channels no longer trying to project a picture of objectivity but “selling a story that makes people angry,” Taibbi, an award-winning journalist, and author says. Taibbi says that the result of this journalistic decay and emotional fear mongering is a public addicted to hating each other.


Americans have become addicted to the news that agrees with their bias, and it was set up that way on purpose. The only thing anyone will hear when they turn on the news are stories specifically crafted to manufacture outrage, make you hate the other side, and fuel the addiction to anger. Taibbi is the author of Hate Inc: Why Today’s Media Makes Us Despise One Another. “In this characteristically turbocharged new book, Matt Taibbi provides an insider’s guide to the variety of ways today’s mainstream media tells us lies. Part tirade, part confessional, it reveals that what most people think of as “the news” is, in fact, a twisted wing of the entertainment business. “Heading into a 2020 election season that promises to be a Great Giza Pyramid Complex of invective and digital ugliness, Hate Inc. will be an invaluable antidote to the hidden poisons dished up by those we rely on to tell us what is happening in the world.” –Hate Inc. description, Amazon

If video doesn’t show properly, please go to the Automatic Earth site

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“..CNN is stuck in a vicious cycle; criticized for focusing too much on negative Trump stories, yet not being able to stop for fear of losing more viewers.”

The moment CNN is labeled “left” is where insanity takes off.

The CNN Search Engine? Google Favors Stories From Liberal News Sites (RT)

Researchers from Northwestern University performed an “algorithm audit” of the ‘Google Top Stories’ box, which is a major driver of traffic to news publishers and therefore prime online real estate. They examined results for nearly 200 searches relating to news events for one month in late 2017 and found “a left-leaning ideological skew.” The researchers did allow some leeway for Google to defend itself, however, saying that while the left-leaning bias was detected, it is possible that the dominance of particular sources is a result of “successful strategic behavior” by those sources to achieve “algorithmic recognizability” — but whatever the reason, liberal sources still far eclipsed conservatives ones.

CNN, perhaps the outlet most-reviled by conservatives, was Google’s overall favorite source. Of the 6,302 articles appearing on Google’s ‘top stories’ during the month in focus, more than 10 percent came from CNN. The New York Times and Washington Post were up next, garnering 6.5 and 5.6 percent of the results, respectively. Fox News, the most mainstream right-wing outlet, was the source for only 3 percent of stories appearing in the top box. Then it was back to liberal outlets, with the BBC, USA Today, Los Angeles Times, The Guardian, Politico and ABC News filling out the rest of the top 10. Overall, 62.4 percent of the most common sources were left-leaning, while only 11.3 perfect were said to be right-leaning.

Ironically, despite the heavy promotion from Google in the online realm, CNN’s overall audience declined by a colossal 26 percent in April compared to a year earlier — and network boss Jeff Zucker admitted last November that CNN’s audience just “goes away” any time the channel switches from its (overwhelmingly negative) coverage of President Donald Trump to other topics. So it seems CNN is stuck in a vicious cycle; criticized for focusing too much on negative Trump stories, yet not being able to stop for fear of losing more viewers. Perhaps an even more damning indictment than Google’s detected liberal bias, however, is that nearly all (86 percent) of the stories promoted by the search giant came from just 20 sources across the entire internet, which doesn’t exactly display much of a commitment to diversity of information and opinion.

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“All that, to paraphrase the immortal words of Mr. Dylan, balances like a mattress on a bottle of wine.”

The Trend is Not Your Friend (Jim Kunstler)

By the mid-1980s, the non-OPEC world was once again swimming in oil from the last great bonanzas of the oil age: The Alaska North Slope and the North Sea. Twenty years later, they were running down. Meanwhile, the USA had fecklessly “offshored” its factories in the mistaken belief that we had entered a shimmering new digital economy of virtual business were nobody had to make real stuff. China became the world’s workshop and the USA became the world’s financial bucket-shop, churning out endless swindles and frauds. The predictable result was the financial crisis of 2008, which coincided with oil prices rising to over $140-a-barrel (and six months later they crashed, with the economy, to under $30-a-barrel).

The “recovery” from that was based on Wall Street’s premier swindle: the shale oil “miracle,” based on high-risk lending to companies that couldn’t make a red cent even while accomplishing the majestic stunt of exceeding America’s old 1970 oil production peak of around 10 million barrels-a-day (now at around 12 million). Notice, too, that the final push to 12-million barrels occurred during the last two years: thus, Mr. Trump’s miracle economy. All that, to paraphrase the immortal words of Mr. Dylan, balances like a mattress on a bottle of wine.

The China-US trade impasse, if it stands for even a few months, will crash the US economy again and it will also crash the price of shale oil back to levels that destroy oil companies. You understand, of course, that the rise of shale oil was amazingly swift, ten years, and that its fall will be similarly fast and furious. The feds may have to either bail it out or nationalize the whole shootin’ match — and that will end up as just another rat-hole we pound sand into, along with our long-running campaign to build failed states overseas. Translation: not so good for the value of the US dollar.

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Sore losers.

US Police Raid Venezuelan Embassy To Evict Pro-Maduro Activists (RT)

Pro-Maduro activists occupying the Venezuelan embassy in Washington have refused to vacate the premises in defiance of a notice threatening them with arrest and police entering the building but stopping short of evicting everyone. “We are expecting the police to come in and violate the Vienna convention with their fictional government, nongovernment claiming that we should leave,” the Embassy Civilian Protection Collective said in a video message shortly before the police arrived at the doors of the diplomatic premises to the cheers of the pro-Guaido camp outside. At least four embassy ‘protectors’ have remained inside the building and could be seen through the windows – even after police entered and left, apparently stopping short of forcefully evicting everyone – for now.


Despite their resolve to defend the diplomatic mission from “illegal seizure” by Guaido-appointed US representative Carlos Vecchio, many of the activists have left the embassy – apparently tired of the siege and worried about the threat of arrest – after a notice, which was not signed by any US government agency, urged them to “depart immediately” from the building in which they have lived for the last 34 days. “The United States does not recognize the authority of the former Maduro regime or any of its former representatives to allow any individuals to lawfully enter, remain on this property, or take any action with respect to this property,” a notice taped to the door of the building earlier in the day read.

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The Guardian tries to make this about the finance sector. It is not.

Britain Risks Heading To US Levels Of Inequality – Angus Deaton (G.)

Rising inequality in Britain risks putting the country on the same path as the US to become one of the most unequal nations on earth, according to a Nobel-prize winning economist. Sir Angus Deaton is leading a landmark review of inequality in the UK amid fears that the country is at a tipping point due to a decade of stagnant pay growth for British workers. The Institute for Fiscal Studies thinktank, which is working with Deaton on the study, said the British-born economist would “point to the risk of the UK following the US” which has extreme inequality levels in pay, wealth and health. Speaking to the Guardian at the launch of the study, he said: “There’s a real question about whether democratic capitalism is working, when it’s only working for part of the population.


“There are things where Britain is still doing a lot better [than the US]. What we have to do is to make sure the UK is inoculated from some of the horrors that have happened in the US.” His warning comes as analysis from the Trades Union Congress (TUC) showed that real wages in the finance sector had outstripped average salaries in the UK over the decade since the financial crisis. Earnings after inflation in the finance sector have grown by as much as £120 a week on average, compared with the average British worker still being about £17 a week worse off after taking account of rising living costs over the past decade. Frances O’Grady, the TUC general secretary, said: “It’s not right that pay is racing ahead in the City when most working people are still worse off than a decade ago.”

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Who cares anymore? Wait till she loses bigly in the EU elections in two weeks. Then nobody will care.

Theresa May Remains Opposed To Any Form Of Brexit Referendum (G.)

Downing Street has said the prime minister remains opposed to any form of referendum being attached to a Brexit deal, as the government prepares to enter its seventh week of talks with Labour to find a compromise. The shadow Brexit secretary, Keir Starmer, and the deputy Labour leader, Tom Watson, have said a deal is unlikely to pass without a referendum as part of the package, with up to 150 of the party’s MPs prepared to vote against an agreement without one. Key figures from both sides including Starmer, John McDonnell and Rebecca Long-Bailey, as well as the chancellor, Philip Hammond, Theresa May’s de facto deputy, David Lidington, and the environment secretary, Michael Gove, are set to meet again on Monday afternoon.


Downing Street said May had made clear her views about a second public vote: “She has said on many occasions that she is focused on delivering the result of the first referendum.” May’s spokesman declined to put a deadline on the talks but said the government was prepared to move on to a series of indicative votes in parliament if no resolution was possible. “If we were able to make progress with Labour then we would look to bring the bill before the House of Commons before the European elections,” he said. Both Labour and government sources have suggested the two sides will need to take stock on the likely progress of the talks this week, and the effectiveness of continuing discussions is likely to be discussed at cabinet on Tuesday morning.

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Scams “R” Us.

Uber & Lyft IPOs Turn into Colossal Flops (WS)

The Nasdaq composite dropped 3.4% today. In the six trading days since its peak on May 3 (8,164), it has dropped 6.3%, after a historic surge of 32% from December 24 through May 3. I mean, what did you expect? The index is now back where it had first been on June 6, 2018. Uber, which had sold its China operations and is no longer significantly tangled up in the US-China trade war, is morphing from the biggest, most hyped tech IPO in recent memory into the most colossal flop in recent memory. Shares plunged nearly 11% today to $37.10 a share. This left shares down 17.6% from its IPO price of $45, at which Uber had extracted another $8.1 billion from gullible investors. Prior investors are even deeper in the hole.


Uber extracted nearly $7 billion from institutional investors between December 2015 and February 2017 by selling them 140 million shares at $48.77 a share, over half of them to Saudi Arabia’s Public Investment Fund, and these folks are now down nearly 24%. Shares of Softbank, which also holds a large stake in Uber, fell 5.5% today. Lyft dropped another 5.7% today, to a new closing low of $48.15. Lyft had been the trailblazer this year for the hottest most hyped IPOs. On March 28, Lyft priced the IPO shares at $72 and extracted at this price about $2.3 billion in new money from IPO investors. On March 29, the first day of trading, it took hours of machinations before shares finally started trading, with a heavily mediatized “pop” of 21%, at $87.24. Then, Lyft shares plunged 10% in 4 Hours from “pop” to close. Today, shares were down 45% from the pop.

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At what point are Bayer shareholders going to protest?

California Jury Awards Couple $2 Billion In Monsanto/Bayer Cancer Trial (RT)

A US jury has awarded $2 billion in punitive damages to a California couple after concluding that Roundup weed killer caused their cancer and that Monsanto, now owned by Bayer, failed to warn them of the chemical’s health risks. Glyphosate, the signature ingredient in Roundup, was found by jury in Alameda County Superior Court to be the cause of non-Hodgkin lymphoma in both Alva and Alberta Pilliod of Livermore. The couple has used the herbicide since the 1970s. In their ruling on Monday, the jury noted that American agrochemical giant Monsanto (now owned by Germany’s Bayer AG) failed to properly warn Roundup users about potential detrimental effects to their health.


Pointing out deliberate negligence by the company, the jury went on to award $18 million in compensatory and $1 billion in punitive damages to Alva Pilliod. His wife Alberta was awarded another $37 million in compensatory and $1 billion in punitive damages. The ruling marks the third time since August 2018 that a US jury has found glyphosate to be a cause of cancer. Thousands of lawsuits with similar claims have been filed against Monsanto, which was acquired by the German pharmaceutical giant last June.

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Bayer trying to clear its name. And the press just prints it, no questions asked.

Bayer Says Monsanto Likely Kept Files On Influential People Across Europe |(R.)

Bayer said on Monday its Monsanto unit, which is being investigated by French prosecutors for compiling files of influential people such as journalists in France, likely did the same across Europe, suggesting a potentially wider problem. French prosecutors said on Friday they had opened an inquiry after newspaper Le Monde filed a complaint alleging that Monsanto – acquired by Bayer for $63 billion last year – had kept a file of 200 names, including journalists and lawmakers in hopes of influencing positions on pesticides. On Sunday, Bayer acknowledged the existence of the files, saying it does not believe any laws were broken but that it will ask an external law firm to investigate.

“It’s safe to say that other countries in Europe were affected by lists … I assume that all EU member states could potentially be affected,” Matthias Berninger, Bayer’s head of public affairs and sustainability, told journalists on Monday. While he did not say there had any illegal activity and added it was up to the external law firm to evaluate the conduct, Berninger said there were signs Monsanto had not played fairly in the use of private data. “There have been a number of cases where – as they would say in football – not the ball was played but the man, or woman, was tackled,” Berninger, who joined Bayer in January, said on a conference call.

Bayer said in its initial statement on Sunday that “Currently, we have no indication that the preparation of the lists under discussion violated any legal provisions.” It added, “Bayer will ask an external law firm to investigate the project Monsanto commissioned and evaluate the allegations. The law firm will also inform all of the persons on the lists of the information collected about them”.

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The point of my article last week was that renewables don’t scale up the way people are told to believe. Not in Germany and not elsewhere.

German Failure on the Road to a Renewable Future (Spiegel)

The German government made a key mistake when it announced the end of the nuclear era in Germany eight years ago: It announced it was turning away from nuclear power, without simultaneously initiating the end of coal. Wind turbines and solar panels were installed across the country — but the coal-fired power plants kept operating. The government set up a clean energy system alongside the dirty one. But why? Because Berlin was afraid of do anything that might harm a single company or voter. Germany has never come up with a clear strategy for the shift to renewables, fully thought out from the beginning to end. There have always been two competing concepts of the Energiewende, even before Merkel.


Politicians like former Environment Minister Jürgen Trittin, a Green Party politician who was part of the cabinet of the center-left Social Democratic (SPD) Chancellor Gerhard Schröder, were in favor of a radical shift, no matter what the cost. Others, like the SPD Economics Minister Sigmar Gabriel and his successor Peter Altmaier, from Merkel’s center-right Christian Democrats (CDU), were more concerned about German industry and job numbers. Neither side trusted the other and a stalemate ensued. Progress halted. This helps explain why the government never dared set up an Energy Ministry that might have had the ability to move things forward, and instead divided up the project among the Chancellery, the Environment Ministry and the Economics Ministry.

It is an unholy trinity that has continually followed the same pattern: The Environment Ministry surges ahead, the Economics Ministry warns of dramatic job losses and the Chancellery avoids making a decision. The expansion of Germany’s electrical grid has suffered the most from this lack of political impetus. More than a decade ago, the German government passed a resolution to quickly build the necessary high-voltage transmission lines, with experts today saying there is a need for 7,700 kilometers (4,800 miles) of such lines. But only 950 have been built. And in 2017, only 30 kilometers of lines were built across the whole country. In Berlin, one can hear the wry observation that 30 kilometers is roughly the distance that a snail can travel in a year.

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“..the increase is increasing at an increasing rate!”

415.26 Parts Per Million: CO2 Levels Hit Historic High (AFP)

Scientists in the United States have detected the highest levels of planet-warming carbon dioxide in Earth’s atmosphere since records began, sounding new alarm over the relentless rise of man-made greenhouse gas emissions..26 The Mauna Loa Observatory in Hawaii, which has tracked atmospheric CO2 levels since the late 1950s, on Saturday morning detected 415.26 parts per million (ppm). It was also the first time on record that the observatory measured a daily baseline above 415 ppm. The last time Earth’s atmosphere contained this much CO2 was more than three million years ago, when global sea levels were several metres higher and parts of Antarctica were blanketed in forest.

“It shows that we are not on track with protecting the climate at all. The number keeps rising and it’s getting higher year after year,” Wolfgang Lucht, from the Potsdam Institute for Climate Impact Research (PIK), told AFP. “This number needs to stabilise.” But far from stabilising, levels of CO2 – one of a trinity of greenhouse gases produced when fossil fuels are burnt – are climbing ever more rapidly. Ralph Keeling, director of Scripps Institution of Oceanography’s CO2 Programme, said the trend would probably continue throughout 2019 – likely to be an El Nino year in which temperatures rise due to warmer ocean currents. “The average growth rate is remaining on the high end. The increase from last year will probably be around three parts per million whereas the recent average has been 2.5 ppm,” he said. “Likely we’re seeing the effect of mild El Nino conditions on top of ongoing fossil fuel use.”

[..] “I’m old enough to remember when passing 400ppm was a big deal,” Gernot Wagner, a research associate at Harvard University, said on Twitter. “Two years ago we hit 410ppm for the first time. By now, it’s 415ppm. And oh, the increase is increasing at an increasing rate!”

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May 122019
 
 May 12, 2019  Posted by at 9:36 am Finance Tagged with: , , , , , , , , , , , ,  


Robert Campin Portrait of a woman 1430-35

 

Brexit Party May Get More EU Election Votes Than Tories, Labour Combined (G.)
Fight To Replace PM May Complicating Brexit Talks – Labour’s McDonnell (R.)
Labour Would Trial Universal Basic Income If Elected – McDonnell (G.)
QE Party Over, Bank of Japan Stealth-Tapers Further (WS)
The World’s Dictatress (Hornberger)
Is America Ready for John Bolton’s War With Iran? (Ritter)
Iran’s Rouhani Warns Of Greater Hardship Than War Years Of 1980s (R.)
Guaido Seeks Pentagon Cooperation In Attempt To Take Power (AP)
Boeing Altered Key Switches In 737 MAX Cockpit (ST)
Assange’s Prison Conditions (Press Project)
American Mom Today 50% More Likely To Die In Childbirth Than Her Own Mother (AP)

 

 

“Poll surge for Farage sparks panic among Tories and Labour..”

Brexit Party May Get More EU Election Votes Than Tories, Labour Combined (G.)

Nigel Farage’s Brexit party is on course to secure more support at the European elections than the Tories and Labour combined, according to the latest Opinium poll for the Observer. In the most striking sign to date of surging support for Farage, the poll suggests more than a third of voters will back him on 23 May. It puts his party on 34% of the vote, with less than a fortnight before the election takes place. The poll suggests support for the Conservatives has collapsed amid the Brexit uncertainty, with Theresa May’s party on just 11%. Labour is a distant second, on 21%. The Lib Dems perform the best of any of the openly anti-Brexit parties, one point ahead of the Tories on 12% of the vote.

With the Brexit party securing more than three times the level of support for the Tories, the poll confirms the concerns of senior Conservatives that it is haemorrhaging support as Brexit remains unresolved. Just a fortnight ago, the Brexit party was neck-and-neck with Labour on 28%. Now it has a 13-point lead over Jeremy Corbyn’s party. The Conservatives are now only narrowly ahead of the Brexit party when voters are asked who they would vote for at a general election. The Tories are on 22% support, down 4% on a fortnight ago, with the Brexit party on 21% backing. Labour leads on 28%, but is down five points on the last poll.

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“The problem they have is that literally in front of us they will fall out,” he told the Sunday Mirror. “So the exercise here is holding themselves together. And that is proving impossible. The administration is falling apart.”

Fight To Replace PM May Complicating Brexit Talks – Labour’s McDonnell (R.)

The battle among leading Conservatives to replace Theresa May as prime minister threatens to derail talks with the Labour Party and the bid to find a Brexit compromise, Labour’s John McDonnell said. May, who has offered to quit if MPs accept her Brexit deal, opened cross-party talks with Jeremy Corbyn’s Labour Party more than a month ago after parliament rejected her European Union withdrawal deal three times. The talks with Labour are a last resort for May, whose party’s deep divisions over Brexit have so far stopped her getting approval for an exit agreement and left the world’s fifth largest economy in prolonged political limbo.


McDonnell, Labour’s financial spokesman and a member of the party’s negotiating team, said the situation was precarious. “The problem they have is that literally in front of us they will fall out,” he told the Sunday Mirror. “So the exercise here is holding themselves together. And that is proving impossible. The administration is falling apart.” In terms of progress, the second most powerful man in the Labour Party said nothing new had been put on the table, and in some cases the talks had gone backwards. “It’s so precarious. We’re dealing with an institution that might not be there in three weeks.” He said the talks had been made more difficult by May’s offer to resign because a new leader could rip up anything agreed by the current administration.

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Universal in Sheffield?

Labour Would Trial Universal Basic Income If Elected – McDonnell (G.)

Labour would trial universal basic income if it wins power, shadow chancellor John McDonnell has revealed. Pilot schemes would be held in Liverpool, Sheffield and the Midlands, McDonnell told the Mirror. The plan would do away with the need for welfare as every citizen would be given a fixed sum to cover the basics whether they are rich or poor, in work or unemployed. McDonnell said people can spend the money how they like, but it is intended for study, to set up a business or leave work to care for a loved one. “I’d like to see a northern and Midlands town in the pilot so we have a spread,” he said.

“I would like Liverpool – of course I would, I’m a Scouser – but Sheffield have really worked hard. I’ve been involved in their anti-poverty campaign and they’ve done a lot round the real living wage. I think those two cities would be ideal and somewhere in the Midlands.” Trials have been held elsewhere in the world, including Kenya, Finland and the US, as well as potentially being explored in four Scottish cities. The shadow chancellor was this week handed a feasibility report for different universal basic income (UBI) models for low-income areas, including one in which a whole community gets basic incomes.

All the means-tested benefits – apart from housing benefit – would be taken away and every adult would get a fixed amount per week, plus an additional amount for each child they have. “Of course it’s a radical idea,” McDonnell said. “But I can remember, when I was at the trade unions – campaigning for child benefit and that’s almost like UBI – you get a universal amount of money just based on having a child. “UBI shares that concept. It’s about winning the argument and getting the design right.” The concept has been around since at least the 1960s and was raised in the 1972 US presidential election, followed by the introduction of a UBI scheme called the Manitoba Basic Income Experiment in Canada in 1975.

[..] McDonnell is convinced of the benefits. “The reason we’re doing it is because the social security system has collapsed. We need a radical alternative and we’re going to examine that. “We’ll look at options, run the pilots and see if we can roll it out. If you look at the Finland pilot it says it didn’t do much in terms of employment but did in terms of wellbeing – things like health. It was quite remarkable. “The other thing it did was increase trust in politicians, which can’t be a bad thing.”

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But the central banks has become the whole economy..

QE Party Over, Bank of Japan Stealth-Tapers Further (WS)

Total assets on the balance sheet of the Bank of Japan at the end of April ticked up from March but were flat with the record in February: ¥562 trillion ($5.1 trillion). This amounts to a gigantic 102.2% of nominal GDP. But the BOJ has been tapering its asset purchases since peak QE at the end of 2016, and the growth has slowed to a snail’s pace, by Abenomics QE standards. Despite the BOJs repeated promises of adding ¥85 trillion to its balance sheet every year, the BOJ hasn’t done that since peak QE in 2016 when it added ¥93 trillion. The additions have consistently decreased since then. Over the 12 months through April, it has added merely €27 trillion, the lowest 12-month increase since early days of ramping up Abenomics in March 2013. This amounts to a stealth taper:

Meanwhile, the government of Japan has been borrowing and issuing new debt with reckless abandon, and the gross national debt outstanding has ballooned to ¥1.12 quadrillion, or 203% of nominal GDP (measured in yen). But no problem: the BOJ started buying every Japanese government security that wasn’t nailed down, with the government selling new securities to the banks, and the banks selling them to the BOJ for a small profit. In addition the BOJ mopped up what was coming on the market. The BOJ now holds 43% of all outstanding Japanese government securities, up from 25% in January 2015. These massive purchases of Japanese government securities, and to a lesser extent, the purchases of corporate bonds, equity ETFs, and Japan REITS, have created this enormous balance sheet, but note the flattening spot at the top, a result of the stealth taper:

The stealth taper has reached a level to where the assets added to the balance sheet are small enough that every third month, as long-term securities mature and roll off the balance sheet, the balance sheet shrinks. Then the next two months, the balance sheet gains:

To smoothen out this volatility of the balance sheet and delineate the trend of the stealth taper more clearly, I converted that above data of month-to-month change into a rolling three-month average. The addition in assets over the past six months was ¥1.7 trillion a month on average:

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John Quincy Adams. A bit wiser than Mike Pompeo.

The World’s Dictatress (Hornberger)

In his Fourth of July address to Congress in 1821, U.S. Secretary of State John Quincy Adams stated that if America were ever to abandon its founding foreign policy of non-interventionism, she would inevitably become the world’s “dictatress” and begin behaving accordingly. No can can deny that Adams’ prediction has come true. America has truly become the world’s dictatress — an arrogant, ruthless, brutal dictatress that brooks no dissent from anyone in the world. Now, I use the term “America” because that’s the term Adams used. In actuality, however, it’s not America that has become the world’s dictatress. It is the U.S. government that has become the world’s dictatress.

A good example of this phenomenon involves Meng Wanzhou, a Chinese citizen who serves as chief financial officer of the giant Chinese technology firm Huawei. Having been arrested by Canadian authorities and placed under house arrest, Meng is suffering the wrath of the world’s dictatress. What is her purported crime? That she violated U.S. sanctions against Iran. What do U.S. sanctions on Iran have to do with her? Exactly! She’s a Chinese citizen, not an American citizen. So, why is she being prosecuted by the U.S. government? Sanctions have become a standard tool of U.S. foreign policy. With the exception of libertarians, hardly anyone raises an eyebrow over their imposition and enforcement.

Their objective is to target foreign citizens with death, suffering, and economic privation as a way to bend their regime to the will of the U.S. dictratress and her brutal and ruthless agents. After all, what could be more brutal and ruthless than to target innocent people with death and impoverishment as a way to get to their government? Most foreign citizens have as little control over the actions of their government as individual American citizens have over the actions of their government. Where is the morality in targeting innocent people, especially as a way to achieve a political goal? Isn’t that why people condemn terrorism?

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“.. it is John Bolton, not Iran, who poses the greatest threat to American national security today.”

Is America Ready for John Bolton’s War With Iran? (Ritter)

The threat being promulgated by Bolton, CENTCOM, Pompeo, and the media ignores the reality that Iran has been preparing to strike American military forces in the Middle East for years as part of its efforts towards self-defense. Iran’s short-range ballistic missile capability is part of a larger missile threat that could, at a moment’s notice, blanket U.S. bases in the region with high explosives. Dispatching the Abraham Lincoln battle group and a B-52 task force to the Middle East is an act of theatrical bravado that will do nothing to change that. Iran’s missile force is, for the most part, mobile. The American experience in the Gulf War, and Saudi Arabia’s experience in Yemen, should underscore the reality that mobile relocatable targets such as Iran’s missile arsenal are virtually impossible to interdict through airpower.


By purposefully escalating tensions with Iran using manufactured intelligence about an all too real threat, Bolton is setting the country up for a war it is not prepared to fight and most likely cannot win. This point is driven home by the fact that Mike Pompeo has been recalled from his trip to participate in a National Security Council meeting where the Pentagon will lay out in stark detail the realities of a military conflict with Iran, including the high costs. (Hopefully, they’ll emphasize that Iran would win such a war simply by not losing—all they’d have to do is ride out any American attack.) That Israel is behind the scenes supplying the intelligence and motivation makes Bolton’s actions even more questionable. It shows that it is John Bolton, not Iran, who poses the greatest threat to American national security today.

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The US must still be smart enough to understand it can only lose.

Iran’s Rouhani Warns Of Greater Hardship Than War Years Of 1980s (R.)

Iran’s president, Hassan Rouhani, has called for unity among political factions to overcome conditions that he said may be harder than those during the 1980s war with Iraq, state media reported, as the country faces tightening US sanctions. Donald Trump on Thursday urged Iran’s leaders to talk with him about giving up their nuclear programme and said he could not rule out a military confrontation. The president increased economic and military pressure on Iran, moving to cut off all Iranian oil exports while beefing up the US navy and air force presence in the Gulf. Washington also approved a new deployment of Patriot missiles to the Middle East, a US official said on Friday.


“Today, it cannot be said whether conditions are better or worse than the (1980-88) war period,” Rouhani said, according to the state news agency IRNA. “But during the war we did not have a problem with our banks, oil sales or imports and exports, and there were only sanctions on arms purchases. “The pressures by enemies is a war unprecedented in the history of our Islamic revolution … but I do not despair and have great hope for the future and believe that we can move past these difficult conditions provided that we are united,” Rouhani told activists from various factions.

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“.. he reserves the right to invite foreign military actions in the way independence hero Simon Bolivar hired 5,000 British mercenaries to liberate South America from Spain. “:

Guaido Seeks Pentagon Cooperation In Attempt To Take Power (AP)

Venezuelan opposition leader Juan Guaido on Saturday said he has instructed his political envoy in Washington to immediately open relations with the US military, in an attempt to put more pressure on President Nicolás Maduro to resign. Guiado said he had asked Carlos Vecchio, who the US recognizes as ambassador, to open “direct communications” toward possible military “coordination”. The remarks, at the end of a rally, were Guaido’s strongest public plea yet for greater US involvement in the country’s fast-escalating crisis. While Guaido has repeatedly echoed comments from the Trump administration that “all options” for removing Maduro are on the table, few in the US or Venezuelan opposition view military action as likely. Nor has the White House indicated it is seriously considering such a move.


[Guaido] announced on Saturday a forthcoming meeting with US military officials and said new actions will seek to “achieve the necessary pressure” to put an end to the Bolivarian revolution launched 20 years ago by the late socialist president Hugo Chávez. Guaido has said that as Venezuela’s rightful leader he reserves the right to invite foreign military actions in the way independence hero Simon Bolivar hired 5,000 British mercenaries to liberate South America from Spain. He says any such help should be considered “cooperation” instead of intervention, something he has accused Maduro of allowing in the form of military and intelligence support from Cuba and Russia. [..] Noticeably diminished crowds at opposition protests reflect demoralization that has permeated Guaido’s supporters after he led a failed military uprising on 30 April. In previous months, thousands heeded his calls to protest. On Saturday, a modest crowd of several hundred gathered in Caracas.

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Lock ’em up.

Boeing Altered Key Switches In 737 MAX Cockpit (ST)

In the middle of Boeing 737 cockpits, sitting between the pilot seats, are two toggle switches that can immediately shut off power to the systems that control the angle of the plane’s horizontal tail. Those switches are critical in the event a malfunction causes movements that the pilots don’t want. And Boeing sees the toggles as a vital backstop to a new safety system on the 737 MAX – the Maneuvering Characteristics Augmentation System (MCAS) – which is suspected of repeatedly moving the horizontal tails on the Lion Air and Ethiopian Airlines flights that crashed and killed a total of 346 people. But as Boeing was transitioning from its 737 NG model to the 737 MAX, the company altered the labeling and the purpose of those two switches.

The functionality of the switches became more restrictive on the MAX than on previous models, closing out an option that could conceivably have helped the pilots in the Ethiopian Airlines flight regain control. Boeing declined to detail the specific functionality of the two switches. But after obtaining and reviewing flight manual documents, The Seattle Times found that the left switch on the 737 NG model is capable of deactivating the buttons on the yoke that pilots regularly press with their thumb to control the horizontal stabilizer. The right switch on the 737 NG was labeled “AUTO PILOT” and is capable of deactivating just the automated controls of the stabilizer. On the newer 737 MAX, according to documents reviewed by The Times, those two switches were changed to perform the same function – flipping either one of them would turn off all electric controls of the stabilizer.

That means there is no longer an option to turn off automated functions – such as MCAS – without also turning off the thumb buttons the pilots would normally use to control the stabilizer. Peter Lemme, a former Boeing flight-controls engineer who has been closely scrutinizing the MAX design and first raised questions about the switches on his blog, said he doesn’t understand why Boeing abandoned the old setup. He said if the company had maintained the switch design from the 737 NG, Boeing could have instructed pilots after the Lion Air crash last year to simply flip the “AUTO PILOT” switch to deactivate MCAS and continue flying with the normal trim buttons on the control wheel.

He said that would have saved the Ethiopian Airlines plane and the 157 people on board. “There’s no doubt in my mind that they would have been fine,” Lemme said.

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“..authorities have made clear to his visitors that, if they speak with the media about the conditions of Assange’s imprisonment, those conditions will only worsen.”

Assange’s Prison Conditions (Press Project)

ThePressProject has obtained exclusive information about Julian Assange’s prison conditions. According to that information, Assange appeared in court without having been granted prior counsel from an attorney. He has access to one book, the Bible, and is not permitted access to writing materials. He is being held in solitary confinement 23 hours a day and his visitors have been made aware that conditions will worsen if they are publicized. Assange has been held at Belmarsh Prison, a Category A (i.e. high security) facility since April 11.

Both Assange’s imprisonment at Belmarsh and his 50-week sentence have been condemned in a statement issued by the UN Working Group on Arbitrary Detention, which denounced the “disproportionate treatment imposed on Mr. Assange” and claimed that his “treatment appears to contravene the principles of necessity and proportionality envisaged by the human rights standards.” Following a visit to Assange in Belmarsh earlier this week, UN Special Rapporteur on torture Nils Melzer also expressed concerns that his rights were being violated. Assange is permitted one hour a day outside of solitary confinement, during which he is allowed to bathe, walk, and use a telephone. At this moment the attention of the international community is upon him, with calls being issued by the United Nations and expressions of support coming from all over the world.

Nevertheless, Assange was permitted to appear in court without prior counsel from an attorney; currently, his meetings with a lawyer are limited to three hours per week. Not only is he cut off from communication with the outside world, he is also not allowed access to books other than the Bible. Because he is not granted access to writing materials, he keeps notes in the margins of that Bible. Again, authorities have made clear to his visitors that, if they speak with the media about the conditions of Assange’s imprisonment, those conditions will only worsen. It is clear that, in this case of such an intense struggle against so unequal an opponent and with extradition to the United States a real possibility, the provision of a fair trial and access to adequate legal defense are a matter of life and death for the imprisoned Assange.

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I see a headline like this, I immediately think: obesity. But there’s more tragedy behind this.

American Mom Today 50% More Likely To Die In Childbirth Than Her Own Mother (AP)

Pregnancy-related deaths are rising in the United States and the main risk factor is being black, according to new reports that highlight racial disparities in care during and after childbirth. Black women, along with Native Americans and Alaska natives, are three times more likely to die before, during or after having a baby, and more than half of these deaths are preventable, Tuesday’s report from the Centers for Disease Control and Prevention concludes. Although these deaths are rare — about 700 a year — they have been rising for decades. “An American mom today is 50% more likely to die in childbirth than her own mother was,” said Dr. Neel Shah, a Harvard Medical School obstetrician.


Separately, the American College of Obstetricians and Gynecologists released new guidelines saying being black is the greatest risk factor for these deaths. The guidelines say women should have a comprehensive heart-risk evaluation 12 weeks after delivery, but up to 40% of women don’t return for that visit and payment issues may be one reason. Bleeding and infections used to cause most pregnancy-related deaths, but heart-related problems do now. The CDC report found that about one third of maternal deaths happened during pregnancy, a third were during or within a week of birth, and the rest were up to a year later. Globally, maternal mortality fell about 44% between 1990 and 2015, according to the World Health Organization. But the U.S. is out of step: Moms die in about 17 out of every 100,000 U.S. births each year, up from 12 per 100,000 a quarter century ago.

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May 052019
 


Giovanni Bellini The transfiguration c1490

 

Pelosi: Trump Could Contest 2020 Election Results – Be Prepared (Carter)
Joe Biden Says He ‘Doesn’t Have Time’ To Lay Out His Healthcare Plan (Ind.)
Trump Criticizes Social Media Bans Of Right-Wing Extremists (PA)
Trump Fires Off Tweetstorm on Social Media Censorship of Conservatives (GP)
Orwellian Cloud Hovers Over Russiagate (McGovern)
Fed To Give Banks A $36 Billion Taxpayer-Funded Subsidy (Middleton)
May Urges Corbyn To Agree A Brexit Deal (R.)
Anger Grows At May-Corbyn Bid To Stitch Up Brexit Deal (G.)
Austerity, Not ‘Failure’ Of Brexit, Behind Tories’ Election Wipeout (G.)
American Farmers Go Bankrupt (ZH)
US Trucking Skids into Downturn after Phenomenal Boom (WS)
Urban Greening Can Save Species, Cool Warming Cities, Make Us Happy (Conv.)

 

 

The Democrats, as personified by Pelosi, Schumer, Hillary, Biden etc., have no identity other than being against everything Trump. There are people in the party who do have ideas and an identity, like Tulsi Gabbard, AOC, and I’m not saying they’re all great ideas, but at least they have some. But they’re being sidelined.

And it’s of course funny to see Pelosi “pre-accusing” Trump of doing what she has done for 2+ years now. Accuse your opponent of what you yourself have done. Classic.

Pelosi: Trump Could Contest 2020 Election Results – Be Prepared (Carter)

In a New York Times interview on Saturday, Nancy Pelosi (D-Cal), shared her concerned that President Trump would not voluntarily step down unless Democrats win by a “big” enough margin in 2020. The Democratic Speaker of the House of Representative, expressed her concern over a possible scenario where Trump would not accept the election results if he were to lose re-election by a slim margin, the NY Times reported. “We have to inoculate against that, we have to be prepared for that,” Pelosi told the newspaper Wednesday.


“If we win by four seats, by a thousand votes each, he’s not going to respect the election,” said Ms. Pelosi, recalling her thinking in the run-up to the 2018 elections. “He would poison the public mind. He would challenge each of the races; he would say you can’t seat these people,” she added. “We had to win. Imagine if we hadn’t won — oh, don’t even imagine. So, as we go forward, we have to have the same approach.” In recent weeks Ms. Pelosi has told associates that she does not automatically trust the president to respect the results of any election short of an overwhelming defeat.

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Biden literally has nothing at all. Other than scolding Trump.

Joe Biden Says He ‘Doesn’t Have Time’ To Lay Out His Healthcare Plan (Ind.)

As Joe Biden storms through Iowa and prepares for his first visit as a presidential candidate in South Carolina, the Democratic front-runner has said he doesn’t “have the time” to lay out the details of his healthcare plan. “I don’t have time; I don’t want to keep you standing any longer,” Mr Biden said recently in Iowa City, declining to lay out his vision for America’s healthcare future to the assembled crowd, according to POLITICO. Likewise Mr Biden has been less than exhaustive when it comes to his other plans, be it foreign policy, or how to tackle climate change. The approach — one in which the former vice president has focused on the values needed in an American president, instead of on specifics of policy — stands in contrast to some of his stiffest competition from fellow Democrats hoping to shake up Democratic politics as we know it.


For months now, his closest competitor in the polls, Bernie Sanders, has been plugging his universal healthcare plan on the campaign trail, which he has dubbed Medicare for All. It’s a policy the Vermont senator has introduced repeatedly in Congress, and ran on in 2016, too. But Mr Sanders isn’t alone in pushing policy in the race. Elizabeth Warren has become known for doing so, offering up plans on issues ranging from healthcare – increase consumer subsidies, force insurers to accept tougher rules, and make insurance cheaper in the US — to improving accountability for private companies in charge of military housing.

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Two different takes on the same topic. First, the Press Association, which labels Paul Joseph Watson and James Woods as “Right-Wing Extremists”. A bit much, perhaps? Other labels I see flash by are far-right, alt-right, extremist conservatives. Isn’t it the labeling itself that is extremist?

Trump Criticizes Social Media Bans Of Right-Wing Extremists (PA)

US president Donald Trump has criticised social media companies after Facebook banned a number of extremist figures and has declared he was “monitoring and watching, closely!!” Mr Trump, who tweeted and retweeted complaints on Friday and Saturday, said he would “monitor the censorship of AMERICAN CITIZENS on social media platforms”. He has previously claimed social media companies are biased against conservatives, something the companies have rejected as untrue. His comments came after Facebook this week banned Louis Farrakhan, Alex Jones and other extremists, saying they violated its ban on “dangerous individuals”.


The company also removed right-wing personalities Paul Nehlen, Milo Yiannopoulos, Paul Joseph Watson and Laura Loomer, along with Mr Jones’s site, Infowars, which often posts conspiracy theories. The latest bans apply to Facebook’s main service and to Instagram, and extend to fan pages and other related accounts. Facebook’s move signalled new effort by the social media giant to remove people and groups promoting objectionable material such as hate, racism and anti-Semitism. The company said it has “always banned” people or groups that proclaim a violent or hateful mission or are engaged in acts of hate or violence, regardless of political ideology. On Twitter, Mr Trump cited a number of individuals he said were being unfairly treated by social media companies, including Mr Watson and actor James Woods. He insisted it was “getting worse and worse for Conservatives on social media!”

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But here’s how Cristina Laila at Gateway Pundit, the site known for Cassandra Fairbanks’ reporting on Julian Assange, phrases the issue. Whole different vocabulary.

Still, there’s a much bigger issue here. As I wrote in the comments the other day: What Facebook and Google are doing is very dangerous for the fabric of society. They’re turning us into China. It’s equal to saying: you cannot have a car, or gas, or a phone, a home. Because you grow a beard, or you have a crappy old car, or whatever.

Or it’s like saying you cannot drive on a certain road, maybe that’s a better example. At some point infrastructure must be available to everyone. You can’t say: this is private, go build your own road, or put up your own telephone poles, because your skin is black and we don’t like that around here.

“Facebook is a private company” is dead before you hit the water (for the same reason as AT&T). Problem is, no politician wants to burn their hands on the issue, which they don’t understand to begin with, until it’s too late. It’s much easier to say: look over there, those guys don’t do anything either.”

So, should Facebook be able to throw people out that haven’t been accused of anything criminal?

Trump Fires Off Tweetstorm on Social Media Censorship of Conservatives (GP)

The tech tyrants at Facebook went into overdrive this week and banned Milo Yiannopoulos, Laura Loomer, Paul Joseph Watson and Alex Jones — without any explanation, the conservative journalists were labeled “dangerous” by Facebook. President Trump fired off a tweetstorm Friday evening on the social media censorship of conservatives and named James Woods and Paul Joseph Watson. “I am continuing to monitor the censorship of AMERICAN CITIZENS on social media platforms. This is the United States of America — and we have what’s known as FREEDOM OF SPEECH! We are monitoring and watching, closely!!” Trump tweeted. “We’re looking into it,” Trump said as he defended his friends Diamond and Silk.

“So surprised to see Conservative thinkers like James Woods banned from Twitter, and Paul Watson banned from Facebook!” Trump said linking to a Breitbart article on Twitter’s silencing of James Woods. Paul Joseph Watson works for Infowars and has been employed by Alex Jones for several years. On Thursday Paul Joseph Watson was banned from Facebook for being associated with Infowars and Alex Jones. Paul Joseph Watson has NEVER broken Facebook rules… But he associates with Alex Jones. Facebook is now banning anyone who is linked to Infowars or has shared too many stories from the conservative Infowars page. But it’s even worse… It is now a violation of Facebook policy to speak positively ANYWHERE about people they don’t like.

Twitter also banned conservative actor James Woods last weekend for paraphrasing American essayist, poet and philosopher Ralph Waldo Emerson, for “abusive behavior.” James Woods tweeted, “If you try to kill the King, you better not miss.” #HangThemAll – similar to a quote from an essay Emerson wrote on Plato:“When you strike at a king, you must kill him.”

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If Americans were interested in the truth, they’d insist on their politicians and media and intelligence talking to the VIPS and Julian Assange. The fact that they haven’t, tells you all you need to know.

Orwellian Cloud Hovers Over Russiagate (McGovern)

George Orwell would have been in stitches Wednesday watching Attorney General William Barr and members of the Senate Judiciary Committee spar on Russia-gate. The hearing had the hallmarks of the intentionally or naively blind leading the blind with political shamelessness. From time to time the discussion turned to the absence of a legal “predicate” to investigate President Donald Trump for colluding with Russia. That is, of course, important; and we can expect to hear a lot more about that in coming months. More important: what remains unacknowledged is the absence of an evidence-based major premise that should have been in place to anchor the rhetoric and accusations about Russia-gate over the past three years. With a lack of evidence sufficient to support a major premise, any syllogism falls of its own weight.


The major premise that Russia hacked into the Democratic National Committee and gave WikiLeaks highly embarrassing emails cannot bear close scrutiny. Yes, former CIA Director John Brennan has told Congress he does not “do evidence.” In the same odd vein, Brennan’s former FBI counterpart James Comey chose not to “do evidence” when he failed to seize and inspect the DNC computers that a contractor-of-ill-repute working for the DNC claimed were hacked by Russia. Call us old fashioned, but we Veteran Intelligence Professionals for Sanity (VIPS) still “do evidence” — and, in the case at hand, forensic investigation. For those who “can handle the truth,” the two former NSA technical directors in VIPS can readily explain how the DNC emails were not hacked — by Russia or anyone else — but rather were copied and leaked by someone with physical access to the DNC computers.

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The Fed is a socialist organization.

Fed To Give Banks A $36 Billion Taxpayer-Funded Subsidy (Middleton)

Before 2009, the Fed did not pay interest on banks’ excess reserves held at the Fed. This practice was introduced as a taxpayer-funded subsidy to the banks during the crisis (taxpayer-funded because the Fed turns over any profit at the end of the year to the Treasury). After beginning this practice, the Fed’s chief trader, Simon Potter, realized it could be used to raise interest rates without expelling excess reserves from the Fed, by sucking liquidity out of the short-term markets. In fall 2015, it began raising the interest rate on excess reserves, with the anticipated effect. At a current rate of about $36 billion a year, this is a cost to the Treasury that is indefensible. This amount is about half the budget for food stamps, for example, which politicians want to cut. There is no provision for these funds ever to be paid back. It is welfare for the bankers.

If the banks had been required to take excess reserves back onto their books it would have required financial disclosure of their quality, which is probably toxic for many. However, with the Financial Accounting Standards Board recently promulgating Financial Accounting Statements 56 and, previously, 157, the “extend and pretend” statement, it would seem they feel less and less need for financial disclosure of any kind. FAS 56 states that the government does not have to disclose what it spends taxpayers’ money on because of national security concerns.

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Lose big and do a deal. It would be voted down.

May Urges Corbyn To Agree A Brexit Deal (R.)

British Prime Minister Theresa May has stepped up calls on Labour Party leader Jeremy Corbyn to agree a cross-party deal to leave the European Union, following poor results for both parties in local elections on Thursday. May’s Conservatives lost more than a thousand seats on English local councils that were up for re-election, and Labour – which would typically aim to gain hundreds of seats in a mid-term vote – instead lost 81. Both parties have been locked in talks for the past few weeks to try to broker a Brexit deal that can get a majority in Parliament, after May’s minority government suffered three heavy defeats on her preferred deal earlier this year.

Senior Conservatives said on Saturday there was an increased need for compromise after the local election results, and the leader of the Scottish branch of the Conservative Party said a deal with Labour could be done within days. May added her voice to these calls in an essay published in a Sunday newspaper. “To the Leader of the Opposition I say this: Let’s listen to what the voters said in the local elections and put our differences aside for a moment. Let’s do a deal,” she wrote in the Mail on Sunday. The Sunday Times reported that the Conservatives would offer new concessions to Labour when talks restart on Tuesday, including a temporary customs union with the European Union, which would last until a national election due in June 2022.

“At that point Labour could use their manifesto to argue for a softer Brexit if they wanted to and a new Conservative prime minister could argue for a harder Brexit,” a source cited by the Sunday Times said.

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There is no solution. the sooner everyone understands that the better. Even a national government is now out of the question.

Anger Grows At May-Corbyn Bid To Stitch Up Brexit Deal (G.)

Last-ditch efforts by Theresa May and Jeremy Corbyn to strike a compromise on Brexit looked doomed on Saturday as the party leaders faced mounting revolts from their own MPs and activists. Following Thursday’s local elections, in which both the Conservatives and Labour were punished severely by voters for failing to break the political deadlock, May and Corbyn have insisted their parties must now urgently agree a way forward in cross-party talks which will resume on Tuesday. On Saturday the prime minister reiterated her appeal, saying: “We have to find a way to break the deadlock. I believe the results of the local elections give fresh urgency to this.”

But opposition MPs and Tory Brexiters warned any deal the leadership teams stitch up behind the scenes would face inevitable defeat in parliament and cause more acrimony in the parties. The Observer can reveal that 104 opposition MPs, mainly from Labour but also SNP, Change UK, Green and Plaid Cymru, have written to May and Corbyn insisting they will not back a “Westminster stitch-up” unless there is a firm guarantee that any deal is then put to a confirmatory referendum. The MPs say: “The very worst thing we could do at this time is a Westminster stitch-up whether over the PM’s deal or another deal. This risks alienating both those who voted leave in 2016 and those who voted remain.”

They say that, “whatever the deal” is, it must be the subject of another referendum so voters can have the “final say”. Separately, senior Tory MPs insisted that any deal struck with Labour that involved anything close to a customs union – Corbyn’s central demand in the talks – would be rejected by more than 100 of the party’s MPs, who would see it as a betrayal of May’s promises on Brexit.

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No, both.

Austerity, Not ‘Failure’ Of Brexit, Behind Tories’ Election Wipeout (G.)

In my book Mr Osborne’s Economic Experiment (2015), I pointed out that the “age of austerity” experienced during the post-1945 Attlee government was unavoidable as a debilitated UK adapted from a wartime economy to peacetime. Resources were strictly limited, and production had to be channelled away from armaments towards the normal needs of the population. Spending power was restricted because goods and food were in short supply. The austerity policy imposed by the Cameron-Osborne administration in 2010-15 – in coalition, let us not forget, with the Lib Dems – was a policy choice. George Osborne, in particular, seized the opportunity of the financial crisis of 2007-09 to cut back on public spending, or at least restrain its rate of growth.


The most obvious victims were local authorities and the electors they serve. Cuts varying between 30% and 40% were imposed on central government grants to local authorities, and the consequences were cumulative. Hardly a day goes by without sad reports of the impact the cuts are having on public services, one of the most recent being the way teachers in overstretched state schools are having to dip into their own pockets to provide textbooks. There are countless other examples. We were told by Theresa May and Philip Hammond, the chancellor, that austerity was coming to an end. But there is precious little sign of it. Which brings us back – I know you have been waiting for it – to the way that Brexit would compound the deleterious effects of austerity, a conclusion reached by every forecast I have examined.

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Big Ag wants it all. But YOU can still go look for a farmers’ market.

American Farmers Go Bankrupt (ZH)

The collapse of multi-generational family farms has sent bankruptcies in the Midwest to ten-year highs. “Bankruptcies in three regions covering major farm states last year rose to the highest level in at least 10 years. The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had double the bankruptcies in 2018 compared with 2008. In the Eighth Circuit, which includes states from North Dakota to Arkansas, bankruptcies swelled 96%. The 10th Circuit, which covers Kansas and other states, last year had 59% more bankruptcies than a decade earlier,” reported WSJ. Steffes Group, a top auction firm in the upper Midwest, has seen auction activity rise 40% in 2019. “Up until now, there wasn’t a lot of motivation to exit farming,” said auctioneer Scott Steffes. “Now, what I’m hearing from folks is, ‘It’s no longer fun to farm.’”

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There are far too many trucks anyway.

US Trucking Skids into Downturn after Phenomenal Boom (WS)

Orders for Class-8 trucks – the heavy trucks that haul consumer goods, equipment, commodities, and supplies across the US to feed the goods-based economy – plunged 52% in April compared to April last year, to 16,400 orders, according to FTR Transportation Intelligence on Friday. It was the lowest April since 2016 when the industry cycled through its last transportation recession. This comes after orders had already plunged 67% year-over-year in March, 58% in February and January, and 43% in December. The collapse in orders is on the scale of the last transportation recession in 2015 and 2016. The chart shows the percent change of orders for each month compared to a year earlier:

The industry is very cyclical with big swings in both directions. Trucking companies get exuberant when capacity tightens and freight rates shoot up as they did in late 2017 and 2018, and they’re inclined to order when business is booming, but it takes a while to get these trucks built, and order backlogs at truck manufacturers piled up to reach close a year at the peak in 2018. Fear of not getting the equipment when they need it can cause industry-wide bouts of over-ordering at the peak of the cycle, which was summer 2018. But as capacity rises, and the cyclical freight business backs off from its blistering growth phase and ticks down a little as it has been since late 2018, trucking companies adjust by reducing their orders, and when push comes to shove, if they can still do it, by cancelling their orders. And that’s what is happening here.

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I think perhaps everyone intuitively understands how to re-design cities. Cars must go first.

Urban Greening Can Save Species, Cool Warming Cities, Make Us Happy (Conv.)

The current climate and ecological crisis demands a radical redesign of how we live and organise our societies. Yet these urgent changes, though complex, are far from impossible. Some of them are simple, beautiful, and beneficial to all. By greening our cities with street trees, urban parks, and community and rooftop gardens, we can keep ourselves cool amid rising temperatures, reverse the steady erosion of the rich tapestry of life on Earth, and foster happiness and social connection in the process. It is widely known that greenery in urban spaces helps improve city microclimates.

Thanks to heat generated by traffic and industrial activity, as well as the spread of heat-trapping concrete buildings that have steadily replaced plant life, urban air temperature is often higher than in rural environments. Hotter cities compel urban denizens to opt for air conditioners in order to stay cool, which further strains energy demands and worsens the urban heat island effect. Plants can help cool cities through the water that evaporates from their leaves when exposed to the sun’s rays, and by shading surfaces that otherwise might have absorbed heat. Research has found that on a sunny day, a single healthy tree can have the cooling power of more than ten air-conditioning units.

Plants also help keep harmful pollutants such as microscopic particulate matter at bay through a complex process known as dry deposition, whereby particles penetrate and become trapped in the wax or cuticles of leaves. Although banning or at least restricting vehicle use in city centres is crucial, mass greening can further reduce pollution and keep cities cool in the increasingly scorching summers that lie ahead.

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Millions long for immortality who don’t know what to do with themselves on a rainy Sunday afternoon
– Susan Ertz

 

 

May 042019
 
 May 4, 2019  Posted by at 8:42 am Finance Tagged with: , , , , , , , , , , ,  


Pablo Picasso Girl with a Mandolin (Fanny Tellier) 1910

 

UN Calls For Julian Assange’s Release From UK High-Security Jail
Barr Launches Wide-Ranging Probe Into 2016 FBI Spying (ZH)
Deeper Into the Dark (Jim Kunstler)
Mueller’s Own Mysteries (Stephen F. Cohen)
Obama On “Scripted, Soulless” Clinton Campaign, “Cartoon Character” Trump (ZH)
UK Tories Lose More Than 1,300 Councillors (BBC)
New Poll Finds 61% Would Back Remain In A Second Brexit Referendum (TNE)
Two Medicare-For-All Bills; One Is a Lot Better Than the Other (NC)
French Minister Rows Back On Claim May Day Protesters ‘Attacked’ Hospital (EN)
Africa’s Forests Are Disappearing At An Unprecedented Rate (M&G)
Biodiversity Crisis Is About To Put Humanity At Risk – UN (G.) >
Lost World: Nature At Death’s Door (AFP)

 

 

UK doesn’t care one bit about the UN. So throw them out. Tell them they can come back once they have a functioning legal system. “Independent judges” my posterior.

UN Calls For Julian Assange’s Release From UK High-Security Jail

UN experts have called for Julian Assange to be released from prison and criticised the British government for breaching his human rights. The WikiLeaks publisher was jailed for 50 weeks on Wednesday for breaking bail conditions imposed seven years earlier by seeking asylum in the Ecuadorian embassy in London. The UN working group on arbitrary detention (WGAD) said it was deeply concerned by the “disproportionate sentence” imposed on Assange for violating the terms of his bail, which it described as a “minor violation”. The group has twice previously called for Assange to be freed, after it judged his confinement to the Ecuadorian embassy by the threat of arrest should he leave amounted to arbitrary detention.

“The working group regrets that the government has not complied with its opinion and has now furthered the arbitrary deprivation of liberty of Mr Assange,” it said in a statement on Friday. “It is worth recalling that the detention and the subsequent bail of Mr Assange in the UK were connected to preliminary investigations initiated in 2010 by a prosecutor in Sweden. It is equally worth noting that that prosecutor did not press any charges against Mr Assange and that in 2017, after interviewing him in the Ecuadorian embassy in London, she discontinued investigations and brought an end to the case. “The working group is further concerned that Mr Assange has been detained since 11 April 2019 in Belmarsh prison, a high-security prison, as if he were convicted for a serious criminal offence. This treatment appears to contravene the principles of necessity and proportionality envisaged by the human rights standards.

“The WGAD reiterates its recommendation to the government of the United Kingdom, as expressed in its opinion 54/2015, and its 21 December 2018 statement, that the right of Mr Assange to personal liberty should be restored.” A government spokesperson said: “The UK has a close working relationship with UN bodies and is committed to upholding the rule of law. Sentencing is a matter for our independent judges, who take into account the full facts of each case, and the law provides those convicted with a right of appeal.” Assange appeared in court on Thursday via video link from Belmarsh as he began a legal fight against extradition to the US, where he is wanted on charges relating to the publication of secret US files leaked by Chelsea Manning, a US intelligence analyst who was subsequently jailed.

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Plenty people with plenty reasons to try and get Barr impeached. But on what grounds?

Barr Launches Wide-Ranging Probe Into 2016 FBI Spying (ZH)

Attorney General William Barr told the Senate Judiciary Panel this week that he has assembled a team at the Justice Department to probe whether the spying conducted by the FBI against the Trump campaign in 2016 was improper, reports Bloomberg. Barr suggested that he would focus on former senior leaders at the FBI and Justice Department. “To the extent there was overreach, what we have to be concerned about is a few people at the top getting it into their heads that they know better than the American people,” said Barr. Barr will also review whether the infamous Steele dossier – a collection of salacious and unverified claims against Donald Trump, assembled by a former British spy and paid for by the Clinton campaign – was fabricated by the Russian government to trick the FBI and other US agencies.

(Will Barr investigate whether Steele made the whole thing up for his client, Fusion GPS?) “We now know that he was being falsely accused,” Barr said of Trump. “We have to stop using the criminal justice process as a political weapon.” Mueller’s report didn’t say there were false accusations against Trump. It said the evidence of cooperation between the campaign and Russia “was not sufficient to support criminal charges.” Investigators were unable to get a complete picture of the activities of some relevant people, the special counsel found.

Although Barr’s review has only begun, it’s helping to fuel a narrative long embraced by Trump and some of his Republican supporters: that the Russia investigation was politically motivated and concocted from false allegations in order to spy on Trump’s campaign and ultimately undermine his presidency. -Bloomberg. As Bloomberg notes, Barr’s review could receive a boost by a Thursday New York Times article acknowledging that the FBI sent a ‘honeypot’ spy to London in 2016 to pose as a research assistant and gather intelligence from Trump foreign policy adviser George Papadopoulos over possible Trump campaign links to Russia.

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“..beyond even the wicked Hillary Clinton to the sainted former president Obama..” “..Mr. Obama’s CIA chief, John Brennan, his NSA Director James Clapper, a baker’s dozen of former Obama top FBI and DOJ officials, including former AG Loretta Lynch, and sundry additional players..”

Deeper Into the Dark (Jim Kunstler)

Mr. Barr’s stolid demeanor during the Wednesday session was a refreshing reminder of what it means to be not insane in the long-running lunatic degeneration of national politics. Of course, the reason for the continued hysteria among Democrats is that the two-year solemn inquiry by the august former FBI Director, Mr. Mueller, is being revealed daily as a mendacious fraud with criminal overtones running clear through Democratic ranks beyond even the wicked Hillary Clinton to the sainted former president Obama, who may have supervised his party’s collusion with foreign officials to interfere in the 2016 election. Mr. Barr’s hints that he intends to tip this dumpster of political subterfuge, to find out what was at the bottom of it, is being taken as a death threat to the Democratic Party, as well it should be.


A lot of familiar names and faces will be rolling out of that dumpster into the grand juries and federal courtrooms just as the big pack of White House aspirants jets around the primary states as though 2020 might be anything like a normal election. In short and in effect, the Democratic Party itself is headed to trial on a vector that takes it straight into November next year. How do you imagine it will look to voters when Mr. Obama’s CIA chief, John Brennan, his NSA Director James Clapper, a baker’s dozen of former Obama top FBI and DOJ officials, including former AG Loretta Lynch, and sundry additional players in the great game of RussiaGate Gotcha end up ‘splainin’ their guts out to a whole different cast of federal prosecutors?

It’s hardly out of the question that Barack Obama himself and Mrs. Clinton may face charges in all this mischief and depravity. It’s surely true that the public is sick of the RussiaGate spectacle. (I know readers of this blog complain about it.) But it’s no exaggeration to say that this is the worst and most tangled scandal that the US government has ever seen, and that failing to resolve it successfully really is an existential threat to the project of being a republic. I was a young newspaper reporter during Watergate and that was like a game of animal lotto compared to this garbage barge of malfeasance.


[..] It seems more than merely possible that the entire Mueller Investigation was a ruse from the start to conceal all this nefarious activity. It is even more astounding to see exactly what a lame document the Mueller Report turned out to be. It was such a dud that even the Democratic senators and congresspersons who are complaining the loudest have not bothered to visit the special parlor set up at the Department of Justice for their convenience to read a much more lightly redacted edition of the report.

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“Mueller even brands American pro-détente views—as Presidents Eisenhower, Nixon, and Reagan held in the 20th century—as “pro-Russia foreign policy positions..”

Mueller’s Own Mysteries (Stephen F. Cohen)

• It has occasionally been suggested that Russiagate was originated by high-level US officials who disliked candidate Trump’s pledge to “cooperate with Russia.” This suspicion remains unproven, but throughout, Mueller repeatedly attributes to Trump campaign members and Russians who interacted in 2016, potentially in sinister or even criminal ways, a desire for “improved U.S.-Russian relations,” for “bringing the end of the new Cold War,” for a “new beginning with Russia.” Even Russian President Vladimir Putin is reported to have wanted “reconciliation between the United States and Russia.”

The result is, of course, to discredit America’s once-mainstream advocacy of détente. Mueller even brands American pro-détente views—as Presidents Eisenhower, Nixon, and Reagan held in the 20th century—as “pro-Russia foreign policy positions”. Does this mean that Americans who hold pro-détente views today, as I and quite a few others do, are to be investigated for their “contacts” with Russians in pursuit of better relations? Mueller seems to say nothing to offset this implication, which has already adversely affected a few Americans mentioned and not mentioned in his report.

• Nor does Mueller consider alternative scenarios and explanations, as any good historical or judicial investigation must do. For example, he accepts uncritically the Clinton/Democratic National Committee allegation that Russian agents hacked and disseminated their emails in 2016. Again, maybe so, but why did he not do his own forensic examination or even mention the alternative finding by VIPS that they were stolen and leaked by an insider? Why did he not question Julian Assange, who claimed to know how and through whom the emails reached WikiLeaks? And how to explain Mueller’s minimal interest in the shadowy professor Joseph Mifsud, who helped entrap George Papadopoulos in London? Mueller reports that Mifsud “had connections to Russia” (p. 5), although a simple Google search suggests that Mifsud was indeed an “agent” but not a Russian one, as widely alleged in media accounts.

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Obama’s all about Obama.

Obama On “Scripted, Soulless” Clinton Campaign, “Cartoon Character” Trump (ZH)

[..] as Obama saw it, the “real blame” for Clinton’s loss “lay squarely with Clinton” – despite her many well-documented attempts to make every conceivable excuse, from blaming Bernie Sanders and his misogynistic “Bernie Bros” to misogynistic Trump supporters. But as Obama vented, nobody forced Clinton to take money from Goldman Sachs, or set up an illicit private email server at her house in Chappaqua. In a stinging passage Baker writes: ‘To Obama and his team, however, the real blame lay squarely with Clinton. ‘She was the one who could not translate his strong record and healthy economy into a winning message. ‘Never mind that Trump essentially ran the same playbook against Clinton that Obama did eight years earlier, portraying her as a corrupt exemplar of the status quo.

‘She brought many of her troubles on herself. No one forced her to underestimate the danger in the Midwest states of Wisconsin and Michigan. ‘No one forced her to set up a private email server that would come back to haunt her. ‘No one forced her to take hundreds of thousands of dollars from Goldman Sachs and other pillars of Wall Street for speeches. ‘No one forced her to run a scripted, soulless campaign that tested eighty-five slogans before coming up with ‘Stronger Together’. Obama tried to keep his cool in the weeks afterwards and texted his speechwriter Ben Rhodes: ‘There are more stars in the sky than sand on the earth’. But soon he was unable to contain his rage which escalated after he met Trump in the Oval Office.

Baker writes that despite being cordial in public he afterwards summoned Rhodes who told him that Trump ‘peddles in b*******’ Rhodes said: ‘That character has always been part of the American story. You can see it right back to some of the characters in Huckleberry Finn’. Obama replied: ‘Maybe that’s the best we can hope for’.

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Tories lose 1,334 councillors (about 28%), Labour loses 82. Guardian says “heavy lossses for Labour Party”.

LibDems were dead, and nobody likes them today. They win 703 seats only because they’re the only strong anti-Brexit vote.

Comment on Twitter: ”The Guardian headlines talk about “heavy lossses for Labour Party” (-4%) Meanwhile even the Tory #BBC is leading with “Tories lose 1300 councillors” Hhhhhhmmmm … the Guardian really, REALLY does hate #Corbyn !!”

Meanwhile, May doesn’t resign after such a loss, she says: voters want us to finish what we’ve been doing.

She must have turned to the bottle.

UK Tories Lose More Than 1,300 Councillors (BBC)

The Conservatives have lost 1,334 councillors, with Theresa May saying voters wanted the main parties to “get on” with Brexit. Labour also lost 82 seats in the English local elections, in which it had been expected to make gains. But the strongly pro-EU Lib Dems gained 703 seats, with leader Sir Vince Cable calling every vote received “a vote for stopping Brexit”. The Greens and independents also made gains, as UKIP lost seats. All 248 English councils holding elections have now announced their full results.


While the scale of the Conservative election losses is larger than expected, Labour had predicted it would gain seats, having suffered losses the last time these council seats were contested, in 2015. The Green Party has added 194 councillors, while the number of independent councillors has risen by 612. UKIP, which enjoyed large gains in 2015, lost 145 seats. Results from Northern Ireland’s 11 councils are also being announced. No local elections are taking place in Scotland and Wales.

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Far from over. Even if Labour signs up for a May deal, what is their legitimacy at this point?

New Poll Finds 61% Would Back Remain In A Second Brexit Referendum (TNE)

New polling has found that 61% of those who would vote in a second referendum would vote to Remain in the European Union. The YouGov survey for KIS Finance found that between the choice of Theresa May’s Brexit deal or remaining in the EU, 61% of those who confirmed they would vote stated they wanted the UK to stay in the European Union. When a no-deal scenario is added into the mix, 53% of people would vote to Remain, while 34% would vote for no-deal, and just 12% would vote for Theresa May’s deal.


The research also uncovered that 1 in 10 have put off important financial decisions, such as buying their first home, moving house, spending money on home improvements, investing and making major purchases such as a car, until the future of Brexit is clear. In London this figures rises to 1 in 5 who have delayed key financial decisions as a direct result of Brexit. In Wales, 1 in 6 have been affected and in Scotland 1 in 7 have postponed major financial decisions. The polling was carried out days ahead of the local elections, 23rd – 24th April 2019. Further information can be found on the KIS FInance website.

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Bernie needs a rethink.

Two Medicare-For-All Bills; One Is a Lot Better Than the Other (NC)

Two bills that are called “Medicare for all” bills by their supporters have just been introduced in Congress. On February 27, Representative Pramila Jayapal introduced the Medicare For All Act of 2019, HR 1384 , in the House of Representatives. On April 10, Senator Bernie Sanders introduced a bill bearing the same name in the Senate, S 1129. The cost-containment section in Representative Jayapal’s bill will cut health care costs substantially without slashing the incomes of doctors and hospitals. Senator Sanders’ bill cannot do that. In this article, I explain the differences in the cost containment sections of the two bills and call upon Senator Sanders to correct two defects in his bill that minimize its ability to reduce costs.

Defect number one: S 1129 authorizes a new form of insurance company called the “accountable care organization” (ACO). Defect number two: S 1129 fails to authorize budgets for hospitals. Representative Jayapal’s bill, on the other hand, explicitly repeals the federal law authorizing ACOs, and it authorizes budgets for individual hospitals. I write this essay as both a long-time organizer, writer and speaker for a single-payer (the older name for “Medicare for all” system) and a strong supporter of Senator Sanders. Bernie’s enthusiastic support for a “single payer” solution to the American health care crisis has added millions of new supporters to the single-payer movement.

But precisely because he is now the most recognizable face of the single-payer movement, it is extremely important that all of us, whether we’re already in the single-payer movement or we just long for a sane and humane health care system, encourage Bernie to fix the defects in his bill. To explain the two defects in S 1129, I must first explain why a single-payer bill like Representative Jayapal’s will be effective at cutting the high cost of American health care. I begin by explaining the origin and meaning of the “single payer” label. I will then describe the two defects in S 1129 in more detail.

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As soon as you read that Yellow Vests attacked a hospital, you know this is a hoax. Or I hope you do. But I bet the probe that will now follow will stop at looking at evidence of an attack, not at why the government has spread false rumors.

French Minister Rows Back On Claim May Day Protesters ‘Attacked’ Hospital (EN)

Paris’ prosecutor has begun a probe after May Day protesters allegedly entered a famed Paris hospital and tried to force the door to its intensive care unit. But supporters of the “gilets jaunes” (“yellow vests”), who were among demonstrators during a fiery march in the French capital on Wednesday, said they were just seeking refuge from tear gas fired by police. Thirty-two people were in police custody under charges of “gathering to commit degradations or violence,” the prosecutor’s office told Euronews. They were released on Thursday evening as investigations continue, the prosecutor’s office said. France’s Interior Minister Christophe Castaner initially said the hospital was ‘attacked’ by dozens of anti-capitalist militants and black blocks, but by Friday morning he had changed his position.

“I shouldn’t have used the word ‘attack’. The term ‘violent intrusion’ used by the hospital director seems to be more accurate giving the videos on it shared ever since,” admitted Castaner during a press conference. [..] But supporters of the “yellow vest” movement, whose protests have shaken the government of President Emmanuel Macron over the past half year, insisted the demonstrators were merely seeking refuge from tear gas fired by police. The incident came during a hugely tense May Day which saw police clash with hardline protesters on the sidelines of the annual labour union march. The hospital is close to the Place d’Italie where the march ended. Salome Fournet-Fayas, a 26-year-old set designer who was demonstrating on May Day, was at the hospital with other protesters.

She told Euronews that she and other demonstrators were following the official itinerary for the rally when police fired tear gas at them in such quantity that she almost vomited. Fournet-Fayas said that as demonstrators were fleeing tear gas and possible flash ball shots, they noticed that the hospital gates were open. So they entered and quietly waited for things to calm down on the grass, in the hospital courtyard, without going inside the building. Asked whether some violent protesters might have tried to attack the hospital, she replied that “everyone was very calm.” She said she felt “revolted” by the government’s account of the events. “No one tried to attack to attack this hospital,” she assured. “We were just there waiting.”

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Nothing holds more CO2 than rainforests.

Africa’s Forests Are Disappearing At An Unprecedented Rate (M&G)

This week, Liberian activist Alfred Brownell won the prestigious Goldman Environmental prize for his efforts to protect Liberia’s rainforest from the depredations of a multinational palm oil producer. But new research, showing that deforestation in Africa is increasing at an unprecedented rate, suggests the continent needs plenty more Alfred Brownells if it is to have a hope of protecting its trees — and, ultimately, the planet itself. “We are in a war for this planet,” said Brownell from Northeastern University in Boston. He was forced into exile after he formed a public interest law group that used legal means to prevent the exploitation of Liberian rainforests by a Singapore-based palm oil producer.

“It’s not just a struggle to protect remote towns and villages, or just to protect their sacred sites, or just to protect their land and their crops, their way of life, their culture, their religion. It’s also about protecting these important forests in West Africa which are producing oxygen and absorbing carbon and, in essence, making an enormous contribution in the mitigation of climate change,” he said. [..] Because of their age,primary forests contain more carbon than other forests, making them invaluable in the climate-change fight. Losing them is a double blow: not only is all this carbon released into the atmosphere, but the land where the forests used to be no longer sucks carbon from the atmosphere.

The main problem areas are Brazil and Indonesia’s rainforests, which together account for 46%of primary rainforest loss in 2018. But this year researchers discovered a new disturbing development: trees in Africa are disappearing at an unprecedented rate. Three regions in Africa are of particular concern: The first is Ghana and Côte d’Ivoire, which both experienced dramatic losses in primary forest cover between 2017 and 2018 (60% and 26% respectively). Although it is difficult to pinpoint exactly what drove the loss, illegal mining is likely to have played a major role, as are expanding cocoa plantations.

The second is the Democratic Republic of Congo, which is behind only Brazil in terms of the total area of primary forest lost.“In the … Congo, primary forest loss was 38% higher in 2018 than it was from 2011-2017. Madagascar is the third area of concern. It lost 2% of its primary forests in 2018. That is a higher proportion than any other tropical country. GFW attributes this mostly to small-scale forest clearing for agriculture and fuel.

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“..world leaders will agree rescue plans for nature ..” And they will be grossly insufficient and turn into terrible failures.

Biodiversity Crisis Is About To Put Humanity At Risk – UN (G.)

Like its predecessor, the report is a compilation of reams of academic studies, in this case on subjects ranging from ocean plankton and subterranean bacteria to honey bees and Amazonian botany. Following previous findings on the decimation of wildlife, the overview of the state of the world’s nature is expected to provide evidence that the world is facing a sixth wave of extinction. Unlike the past five, this one is human-driven. Mike Barrett, WWF’s executive director of conservation and science, said: “All of our ecosystems are in trouble. This is the most comprehensive report on the state of the environment. It irrefutably confirms that nature is in steep decline.”

Barrett said this posed an environmental emergency for humanity, which is threatened by a triple challenge of climate, nature and food production. “There is no time to despair,” he said. “We should be hopeful that we have a window of opportunity to do something about it over these two years.” The report will sketch out possible future scenarios that will vary depending on the decisions taken by governments, businesses and individuals. The next year and a half is likely to be crucial because world leaders will agree rescue plans for nature and the climate at two big conferences at the end of 2020.

That is when China will host the UN framework convention on biodiversity gathering in Kunming, which will establish new 20-year targets to replace those agreed in Aichi, Japan, in 2010. Soon after, the UN framework convention on climate change will revise Paris agreement commitments at a meeting in either the UK, Italy, Belgium or Turkey.

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Degradation continues to increase.

Lost World: Nature At Death’s Door (AFP)

Earth’s population has doubled in 50 years. Not only are we living longer than ever before, we are also consuming more. Today, humans extract around 60 billion tonnes of resources from Nature each year — a rise of 80 percent in just a few decades. And we are leaving our mark in other ways. Since 1980, manmade greenhouse gas emissions have doubled, adding at least 0.7C to global temperatures. We dump up to 400 million tonnes of heavy metals, toxic sludge and other waste into oceans and rivers each year. The report, compiled from more than 15,000 academic papers and research publications, estimates that 75 percent of land, 40 percent of oceans and 50 percent of rivers “manifest severe impacts of degradation” from human activity.

The document, the first of its kind in 15 years, paints a picture of rife inequality, with richer nations consuming vastly more per capita than poorer ones battling to retain their natural resources. Indeed, per capita demand for materials is four times more in high- than in low-income economies. In Europe and North America, humans now consume several times the recommended intake of meat, sugar and fat for optimal health, while 40 percent of the world’s people lack access even to clean drinking water. The inequality gap is huge and widening: GDP per head is already 50 times larger in wealthy nations than in poor ones. Industrial fishing is destroying our oceans, according to the report. It found that 70,000 industrial fishing vessels operate in at least 55 percent of the world’s high seas.

Nearly three quarters of major marine fish stocks are depleted or exploited to the limit of sustainability, despite efforts from the fishing community to implement quotas and drive down overfishing. On land, the situation looks even bleaker. A third of all land is now given over to agriculture and 75 percent of freshwater resources is dedicated to food production. In all, at least a quarter of all greenhouse gas emissions come from land clearing, crop production and fertilisation, the vast majority of which comes from animal-based food production.


New York Zoo, 1963 “You are looking at the most dangerous animal in the world. It alone of all the animals that ever lived can exterminate (and has) entire species of animals. Now it has the power to wipe out all life on earth.”

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You know I always liked my walking shoes
but you can get a little too fond of the blues
You walk too far, you walk away
Hello sunshine won’t you stay

You know I always loved a lonely town
Those empty streets, no one around

You know I always liked that empty road
No place to be and miles to go
But miles to go is miles away
Hello sunshine won’t you stay

 

 

 

Apr 252019
 
 April 25, 2019  Posted by at 9:03 am Finance Tagged with: , , , , , , , , , , , , ,  


Giovanni Bellini Pietà 1505

 

There Will Be No Soft Brexit Now. It’s No Deal, Revoke Or Another Vote (G.)
More British Families Than Ever Depend On Food Banks (Ind.)
Curbing Pensioner Benefits Could Help The Young (G.)
Deutsche Bank Handing Over Trump Loan Documents To NY Officials (AFP)
Former AG Mukasey Shreds CNN For Misleading Russia Conspiracy Theories (RT)
She Wrote The Patriot Act. Her Next Job Is With Facebook (ZH)
Iceland Court Orders Valitor (Formerly VISA) to Pay WikiLeaks $10 Million (GP)
Global Grounding Of 737 Max Will Cost Boeing More Than $1 Billion (G.)
Tesla Reports Another Doozie (WS)
Belt and Road Forum: China’s ‘Project Of The Century’ Hits Tough Times (G.)
Past Role and Current Risks from China – Anne-Stevenson Yang (HF)
Declare Capitalism Dead – Before It Takes Us All Down With It (Monbiot)
‘Death By A Thousand Cuts’: Vast Expanse Of Rainforest Lost In 2018 (G.)

 

 

There’s sweet poetic justice in the European elections playing a decisive role in what Brexit means.

There Will Be No Soft Brexit Now. It’s No Deal, Revoke Or Another Vote (G.)

Until recently, my view could have been summarised as follows: Brexit remains a lamentable event I will always oppose; but, in the absence of public permission to overturn it, a softer version would be less bad than a hard one, and could provide the fragile basis for an eventual form of reintegration with Europe down the line. At times in the past five months, ever since the UK and the EU struck the withdrawal agreement, a pragmatic compromise of this kind has seemed tantalisingly viable. Desperately though they tried through the winter, the hard Brexiteers failed to harden the original deal or take down May in the way they wanted. That left a space in the political centre.

So, when May finally made an opening to Labour in early April, there was a possibility that a Brexit compromise was on the cards – even at the eleventh hour and in spite of the immense party political difficulties it might entail for both. But it hasn’t happened. The talks between the government and Labour continue. But they are not going anywhere. This week both May and Jeremy Corbyn accused the other of dragging their feet. That could be a cunning joint deception, preparing their respective parties for a surprise deal. But it isn’t the case – believe me. There is an increasing air of unreality about the whole thing. On both sides of the table, the participants are looking over their shoulders at their own colleagues, not negotiating in earnest.

There are three big issues on the table in these talks. But there is no agreement on any of them. The first is over the terms of a future customs union and on single market alignment. The second, on which the two sides have had the biggest arguments, is on “future-proofing” any agreement against the next Conservative leader. The third is over the role, if any, of a confirmatory second vote. On each of these, May is unwilling to make concessions – or even to put options on the table – that would further divide the Tories, while Corbyn remains deeply reluctant to become co-owner of a joint agreement that might end in the overturning of Brexit.

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Parliament’s too busy with Brexit.

More British Families Than Ever Depend On Food Banks (Ind.)

Food bank use has soared to record levels, with the number of emergency supplies distributed across the UK having risen by nearly a fifth in one year, new figures show. Campaigners said it was “shameful” that a growing number of Britons were unable to feed themselves after data published by the Trussell Trust, the UK’s largest food bank provider, revealed 1,583,668 three-day emergency food supplies were distributed in the year to March 2019 – a 19 per cent rise on the previous year. More than half a million of these (577,618) went to children, fuelling concerns about rising child poverty, after government figures last month revealed that the number of youngsters living in absolute poverty had increased by 200,000 in a year – to a total of 3.7 million.


The figures have also prompted renewed criticism of the government’s flagship welfare reform, universal credit, as the Trussell Trust said issues with moving onto the new system were a “key driver” of increasing need, primarily due people having to wait five weeks for payment under the new system. Labour’s shadow work and pensions secretary Margaret Greenwood branded the sharp rise “shocking” and said the “need for emergency food parcels in one of the richest countries of the world” was “shameful”. “Nobody in our society should be forced to turn to food banks to survive. Despite ministers’ attempts to explain away food bank use, the Trussell Trust is very clear that cuts to social security and the five-week wait for universal credit payments are key reasons for the rise,” she added.

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Free TV licenses? What century is this? But seriously, this is why I think a UBI is inevitable. Taking from the old to give to the young is not an answer.

Curbing Pensioner Benefits Could Help The Young (G.)

Free TV licences for over-75s should be scrapped, the age threshold for free bus passes raised and the triple-lock on pensions abolished to close the widening gap between young and old in Britain, according to a Lords report. The House of Lords committee on intergenerational fairness and provision said it was time to rebalance government policy in favour of the young, to remove the risk of the social bonds between generations fraying further. For reasons of fairness and because many pensioner households across the UK have become better off on average than many working-age families, it called on ministers to curb several benefits targeted at older Britons.


The report said the triple-lock – which raises state pension payments in line with the highest of consumer price inflation, average earnings growth, or 2.5% – should be removed. The increase in annual pension payments should instead track average earnings, it said. Free TV licences based on age should be phased out but could be offered based on household income instead. The age when older people can apply for a free bus pass and receive winter fuel payments should also rise to at least five years after a person becomes eligible for the state pension, said the report. It added that this could be phased in to coincide with the state pension age rising to 67 from 2026.

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And there we go again.

NB: Deutsche just announced the death of the merger with Commerzbank.

Deutsche Bank Handing Over Trump Loan Documents To NY Officials (AFP)

Deutsche Bank has begun to provide documents on financing for some of President Donald Trump’s projects to New York State authorities, a source familiar with the matter told AFP on Wednesday. In mid-March, New York Attorney General Letitia James subpoenaed the German bank, demanding records related to loans and lines of credit granted to the Trump Organization. The money was intended to finance projects such as Trump hotels in Washington, DC, Miami and Chicago, another source told AFP last month on the condition of anonymity. It was unclear whether Deutsche Bank had provided all the documents requested.


“We remain committed to cooperating with authorized investigations,” a bank spokesman told AFP, while declining to comment on a CNN report that the company was handing over the documents. James’ office also declined to comment on the status of the documents regarding financing for the Trump Organization, the holding company that has been run by Trump’s sons Eric and Donald Trump Jr since he entered the White House. New York authorities also wanted records related to the Trump Organization’s failed attempt in 2014 to buy the Buffalo Bills football team, the source said on condition of anonymity.

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On CNN, no less: “In essence, panels of people sitting around a table inhaling their own exhaust, and getting high on it.”

Former AG Mukasey Shreds CNN For Misleading Russia Conspiracy Theories (RT)

Retired US Attorney General Michael Mukasey slammed CNN on its own network for what he said was flawed coverage of the special counsel investigation into US President Donald Trump. Appearing for a one-on-one interview on Cuomo Prime Time on Tuesday, Mukasey said CNN was “misleading a lot of people” in its coverage of the investigation, which sought to determine whether then-candidate Trump conspired with Moscow to win the 2016 presidential election. “You have a big audience – getting smaller by the minute now,” he said to host Chris Cuomo, who laughed nervously. Mukasey served as attorney general from 2007 to 2009 under the George W. Bush administration.


While the special counsel’s final report did not find evidence of a criminal conspiracy with Russia, the report was for weeks the subject of intense speculation in the media. Mukasey was not impressed with CNN’s performance in the lead-up to the report’s publication, as the network insisted on the collusion narrative. “Your network was devoting days of people sitting around and talking about a report whose contents they didn’t know – that they hadn’t seen,” Mukasey said. “In essence, panels of people sitting around a table inhaling their own exhaust, and getting high on it.” He added that CNN helped to whip the country into “a state of absolute hysteria” over the investigation. “Consider this,” he said, “[Trump is] being investigated for a crime that didn’t happen, and that he certainly didn’t commit.”

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Facebook = CIA.

She Wrote The Patriot Act. Her Next Job Is With Facebook (ZH)

Facebook announced Monday that Jennifer Newstead, a Trump appointee who served in the Department of Justice (DoJ) under President Bush, will join the social media company as General Counsel, supervising its global legal functions. Newstead replaces Colin Stretch, who announced in 3Q18 that he will exit. Stretch will remain with Facebook through the transition phase, expected to be completed in the coming months. “Jennifer is a seasoned leader whose global perspective and experience will help us fulfill our mission,” said Sheryl Sandberg, Facebook’s Chief Operating Officer. “We are also truly grateful to Colin for his dedicated leadership and wise counsel over the past nine years. He has played a crucial role in some of our most important projects and has created a strong foundation for Jennifer to build upon.”

Newstead brings a terrifying history of lobbying and legislating for an Orwellian style of mass electronic surveillance of Americans. The Hill explains she was credited with writing the controversial 2001 Patriot Act, a piece of legislation that stripped Americans of their First and Fourth Amendments in the name of fighting the War on Terror. In a 2002 statement, Assistant Attorney General Viet Dinh described Newstead’s role in drafting the Patriot Act: “Her enhanced leadership duties and her excellent service on a range of issues — including helping craft the new U.S.A. Patriot Act to protect the United States against terror — have earned her this important distinction. She is first among equals.”


Congress enacted the Patriot Act in the wake of September 11, 2001 attacks, the Act expanded the scope of the government’s surveillance powers to investigate terrorism, organized crime, and drug trafficking. It allowed government investigators to use roving wiretaps and the ability to collect telephone records from US carriers.

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That means Assange defense.

Iceland Court Orders Valitor (Formerly VISA) to Pay WikiLeaks $10 Million (GP)

The Icelandic court has ordered Valitor, formerly VISA Iceland, to pay WikiLeaks $10 million in damages over the 2011 banking blockade. Valitor had been ordered to process card payments for WikiLeaks in 2013 by the same court, and was told they would face daily penalties if they refused to comply. By not reinstating services, the company was fined $204,900 per month or $2,494,604 per year for continuing the blockade. On Wednesday, Icelandic media reported that the company has now been ordered to pay up. Valitor has stated that they are likely to appeal, according to WikiLeaks. WikiLeaks had launched a case against Valitor in Reykjavik back in June of 2012 over the unlawful suspension of financial services against Wikileaks.


Ten days after WikiLeaks published Cablegate, they were blockaded by Bank of America, VISA, MasterCard, PayPal and Western Union. The political effort to defund the organization lead to a wave of hacks and cyber attacks against the companies by transparency activists. “The blockade is outside of any accountable, public process. It is without democratic oversight or transparency. The US government itself found that there were no lawful grounds to add WikiLeaks to a US financial blockade. But the blockade of WikiLeaks by politicized US finance companies continues regardless,” WikiLeaks said in a statement at the time.

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Appears to be a real low amount. They lose a billion a month from not building 52 but 42 planes.

Global Grounding Of 737 Max Will Cost Boeing More Than $1 Billion (G.)

The global grounding of Boeing’s 737 Max jets will cost the company more than $1bn, the company said on Wednesday. In its first quarterly earnings report since the Lion Air and Ethiopian Airlines disasters, Boeing announced it had abandoned its 2019 financial outlook and halted share buy-backs in mid-March as it deals with the crisis. Dennis Muilenburg, Boeing’s chairman and chief executive officer, said: “We have great sorrow for the families affected. This weighs heavily on us.” He said the company’s first priority was to get the 737 Max back in the air and that the company was working closely with the Federal Aviation Administration (FAA) and other regulators to end the aircraft grounding.


The announcement was a sharp reversal from Boeing’s last earnings report in January, when executives unveiled plans to deliver more than 900 jetliners this year alongside higher sales and profits. The world’s largest plane-maker reported first-quarter revenue and cashflow below sharply lowered Wall Street estimates, largely due to stopping deliveries of the 737 Max jets, which were grounded in March after the two crashes. [..] Boeing cut production of the jets following the crashes to 42 aircraft per month, down from 52, and its operating cash flow in the first quarter was about $350m lower than a year earlier.

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Musk’s business models are all based on subsidies.

Tesla Reports Another Doozie (WS)

It would be a joke for a small niche automaker, specialized in luxury cars, with a global market share of less than 1% to get this kind of global attention. But Tesla is unique because of its extraordinarily ludicrous stock price. Though that price has come down by about 32% from its peak in June 2017, it’s still ludicrously high. More on that in a moment. We’re going to skip over all the glossy stuff and go straight to the financial statement, more specifically to the bottom line of the income statement, where Tesla reported a zinger of a net loss of $702 million, its third-worst quarterly net loss ever. We note here that part of Tesla’s business model is to sell taxpayer-funded pollution credits to other companies, but they’re not fully disclosed until Tesla files its 10-Q at a later date:

These pollution credits are pure profit. For Q1, Tesla disclosed only $15 million of these credits. For the full disclosure we have to wait until Tesla files its 10-Q report for Q1 at a later date, when no one pays attention. For example, in the miraculous third quarter last year, Tesla reported a profit of $311 million on October 24, and all the world was left speculating and digging into how it accomplished this. At the time, it disclosed $52 million in “regulatory credits,” as it calls them. But then on November 2, Tesla filed its 10-Q for that quarter, disclosing that $189.5 million of its $311 million in profits had come from the sale of those “regulatory credits,” a much larger amount than typical.


[..] at the price of $258.66 a share at the close today, Tesla has a market capitalization of $44.7 billion. By comparison, GM – and I’m no fan of GM at this price – which made $48 billion in net income over the past four years and whose revenues of $147 billion in 2018 were seven times the size of Tesla’s, has a market cap of $56.6 billion. And at peak Tesla nuttiness, there were long periods when the market cap of Tesla exceeded that of GM. So to have some fun, I created this chart to show the difference in market cap (GM minus Tesla) in billion dollars.

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“debt trap diplomacy”

Belt and Road Forum: China’s ‘Project Of The Century’ Hits Tough Times (G.)

As China fetes its Belt and Road initiative at a summit this week, Chinese officials will be working hard to defend the flagship project from growing international criticism. The three-day forum starting on Thursday is meant to promote Chinese leader Xi Jinping’s “project of the century”, a foreign policy initiative launched in 2013 to revive ancient trading routes between Asia and Europe, as well as build new links in the Middle East, Africa, and South America. But in contrast to its first summit two years ago, the Belt and Road Initiative (BRI) takes place in a much less welcoming environment. Critics say the initiative is an effort to cement Chinese influence around the world by financially binding countries to Beijing by way of “debt trap diplomacy”.


“The ‘Belt and Road initiative’ (BRI) is not a geopolitical tool but a platform for cooperation,” Chinese foreign minister Wang Yi said last week, ahead of the forum “We welcome all parties to take part in it.” This week’s event is especially important for Beijing, which uses the forum as a way to convince the international community, as well as its own citizens, of the success of the project. Beijing is likely to laud the memoranda of understanding signed at the event, which will conclude with a joint communique. [..] The event is to be attended by 37 leaders, including Russian president Vladimir Putin, Italian prime minister Giuseppe Conte, UK chancellor Philip Hammond, Pakistan’s prime minister Imran Khan and the heads of state of the 10 Asean (Association of South-east Asian Nation) states.

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“In this week’s episode of Hidden Forces, Demetri Kofinas speaks with China expert Anne Stevenson-Yang about the imminent dangers facing global financial markets in the event of a break in the renminbi-dollar peg.”

“I really have never seen a listed company in China that did not have material and significant fraud.” – Anne Stevenson-Yang”

Past Role and Current Risks from China – Anne-Stevenson Yang (HF)

The problem is that China generated a tremendous amount of money and credit since the GFC, in particular, and therefore risks a major devaluation in the value of the RMB should the country no longer be able to get the foreign exchange reserves it needs through a sustainable current account surplus. They are, at the moment, running a negative current account, a negative fiscal balance (of roughly 9% of GDP), their foreign exchange reserves are declining for the first time ever, while the country’s external debt has doubled in the last five years, increasing by an average of $70 billion per quarter since the beginning of 2017. More than half of this debt is short-term, which means it needs to be constantly rolled over.


Up until the Fed paused it’s tightening cycle, the rising interest rates coupled with new tariffs on Chinese goods were creating a pincer-like effect on China’s economy and on its ability to maintain its peg, forcing it to fund more of its dollar needs through borrowing at ever higher interest rates. China cannot maintain a credible peg between the RMB and the USD when its money supply is growing, by some calculations at more than 10x that of the United States over the last 10 years. This is a fundamental problem of accounting. If China were completely self-sufficient – if it had access to sufficient energy, food, base metals, etc. within its own borders – then its inability to obtain dollars would not be an issue. The problem is that it is desperately short these commodities as inputs for its manufacturing and domestic consumption.

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Not a Monbiot fan, but surely a discussion point. Unlike him, do come with an alternative.

Thunberg: ‘That future was sold so that a small number of people could make unimaginable amounts of money. It was stolen from us every time you said that the sky was the limit, and that you only live once.’

Declare Capitalism Dead – Before It Takes Us All Down With It (Monbiot)

Capitalism’s failures arise from two of its defining elements. The first is perpetual growth. Economic growth is the aggregate effect of the quest to accumulate capital and extract profit. Capitalism collapses without growth, yet perpetual growth on a finite planet leads inexorably to environmental calamity. Those who defend capitalism argue that, as consumption switches from goods to services, economic growth can be decoupled from the use of material resources. Last week a paper in the journal New Political Economy, by Jason Hickel and Giorgos Kallis, examined this premise. They found that while some relative decoupling took place in the 20th century (material resource consumption grew, but not as quickly as economic growth), in the 21st century there has been a recoupling: rising resource consumption has so far matched or exceeded the rate of economic growth.

The absolute decoupling needed to avert environmental catastrophe (a reduction in material resource use) has never been achieved, and appears impossible while economic growth continues. Green growth is an illusion. A system based on perpetual growth cannot function without peripheries and externalities. There must always be an extraction zone – from which materials are taken without full payment – and a disposal zone, where costs are dumped in the form of waste and pollution. As the scale of economic activity increases until capitalism affects everything, from the atmosphere to the deep ocean floor, the entire planet becomes a sacrifice zone: we all inhabit the periphery of the profit-making machine.

[..] The second defining element is the bizarre assumption that a person is entitled to as great a share of the world’s natural wealth as their money can buy. This seizure of common goods causes three further dislocations. First, the scramble for exclusive control of non-reproducible assets, which implies either violence or legislative truncations of other people’s rights. Second, the immiseration of other people by an economy based on looting across both space and time. Third, the translation of economic power into political power, as control over essential resources leads to control over the social relations that surround them.

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The only thing we’re acutally good at is destruction.

‘Death By A Thousand Cuts’: Vast Expanse Of Rainforest Lost In 2018 (G.)

Millions of hectares of pristine tropical rainforest were destroyed in 2018, according to satellite analysis, with beef, chocolate and palm oil among the main causes. The forests store huge amounts of carbon and are teeming with wildlife, making their protection critical to stopping runaway climate change and halting a sixth mass extinction. But deforestation is still on an upward trend, the researchers said. Although 2018 losses were lower than in 2016 and 2017, when dry conditions led to large fires, last year was the next worst since 2002, when such records began. Clearcutting of primary forest by loggers and cattle ranchers in Brazil dominated the destruction, including invasions into indigenous lands where uncontacted tribes live.

Losses were also high in the Democratic Republic of the Congo (DRC) and Indonesia. Indonesia is the only major country where government protections appear to be significantly reducing the losses. Ghana and Ivory Coast recorded the biggest percentage rises in rainforest destruction, driven by gold mining and cocoa farming. “We are nowhere near winning this battle,” said Frances Seymour from the World Resources Institute, part of the Global Forest Watch (GFW) network, which produced the analysis. “It is really tempting to celebrate a second year of decline since peak tree cover loss in 2016 but, if you look back over the last 18 years, it is clear that the overall trend is still upwards.”

“The world’s forests are now in the emergency room – it is death by a thousand cuts,” she said. “Band-Aid responses are not enough. For every hectare lost, we are one step closer to the scary scenario of runaway climate change.” There are many government and corporate efforts to combat deforestation, but they are not proving to be enough, Seymour said.

Read more …

 

 

Apr 242019
 


Giovanni Bellini Pietà 1474

 

Bipolar Markets in the “New Mediocre” (Roubini)
Fed Key Interest Rate Keeps Climbing, That Could Become A Problem (CNBC)
Cut the Price and They Will Come: US New Home Prices At Dec. 2014 Level (WS)
Chinese Banks Are Running Out Of Dollars (ZH)
Hillary Outlines “Roadmap” To Trump Impeachment (ZH)
The Conspiracy Against Trump (Giraldi)
Theresa May Accuses Labour Of Dragging Its Heels In Brexit Talks (Ind.)
Labour Says Theresa May Unwilling To Offer Key Brexit Concessions (G.)
UK MPs Campaign To Have Donald Trump’s State Visit Cancelled (G.)
The Revelations of WikiLeaks: No. 1 (CN)

 

 

Who will be the first in the world of finance to understand what’s going on AND be honest about it? It won’t be Roubini. Nothing has anything to do with recession or trade risks anymore. It’s the Fed and the Fed only. And there are no investors as long as the Fed monopolizes what were once markets. These so-called investors are in reality a bunch of rich socialists waiting for a central bank to hand them money. They’ll also be the first to warn about the dangers of socialism.

Bipolar Markets in the “New Mediocre” (Roubini)

Financial markets tend to undergo manic-depressive cycles, and this has been especially true in recent years. During risk-ons, investors – driven by “animal spirits” – produce bull markets, frothiness, and sometimes outright bubbles; eventually, however, they overreact to some negative shock by becoming too pessimistic, shedding risk, and forcing a correction or bear market. Whereas prices of US and global equities rose sharply throughout 2017, markets began to wobble in 2018, and became fully depressed in the last quarter of the year. This risk-off reflected concerns about a global recession, Sino-American trade tensions, and the Federal Reserve’s signals that it would continue to raise interest rates and pursue quantitative tightening.

But since this past January, markets have rallied, so much so that some senior asset managers now foresee a market “melt-up” (the opposite of a meltdown), with equities continuing to rise sharply above their current elevated levels. One could argue that this latest risk-on cycle will continue for the rest of the year. For starters, growth is stabilizing in China, owing to another round of macroeconomic stimulus there, easing fears of a hard landing. And the United States and China may soon reach a deal to prevent the ongoing trade war from escalating further.

At the same time, US and global growth are expected to strengthen somewhat in the second half of the year, and the disruption of a “hard Brexit” has been averted, with the European Union extending the deadline for the United Kingdom’s departure to October 31, 2019. As for the eurozone’s prospects, much will depend on Germany, where growth could rebound as global headwinds fade. Moreover, central banks, particularly the Fed, have become super-dovish again, and this appears to have reversed the tightening of financial conditions that produced the risk-off in late 2018.

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They are well on their way towards blowing up the entire US economy. Just like their counterparts in Japan, Europe, China. Will Russia be the last one standing?

Fed Key Interest Rate Keeps Climbing, That Could Become A Problem (CNBC)

The Federal Reserve’s benchmark interest rate has inched up to its highest level in 11 years even though the central bank has sent a clear message that it is done tightening policy indefinitely. In recent days, the effective fed funds rate, which targets the overnight level that banks charge each other for loans, has moved up to 2.44%. That’s the highest since March 2008 and is just 6 basis points from the top of the target range and the closest to the top since December, when the Fed last raised rates. For now, the move is looked on as not being especially problematic given that there is still room between the current level and the top of the 2.25% to 2.5% range in which the rate is supposed to trade.


But moves toward the upper end of the band have prompted action before, and the trend likely will be a topic of discussion at next week’s Federal Open Market Committee meeting. When the Fed first began raising rates in December 2015, it succeeded in keeping the funds rate around the midpoint of the target range. But that has changed over the past year. “At 6 basis points from the top of the range, you’re still within the target. The question becomes whether they think technical pressure is driving this,” said Lou Crandall, chief economist at Wrightson ICAP and formerly of the New York Fed. “The only concern is whether you’ll have to make a technical adjustment in the future from preventing it from going higher.”

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Fed to the rescue! Actually, as long as banks write new loans, the Fed can and will hold back.

Cut the Price and They Will Come: US New Home Prices At Dec. 2014 Level (WS)

Home builders, the ultimate pros in the housing market, have figured out something after the malaise in the second half last year: Cut prices and buyers will come. The median selling price of new houses dropped 9.7% in March from March last year to $302,700, the Commerce Department reported this morning. This took the price back to about where it had first been in December 2014 ($301,500):

Homebuilders are motivated to move their speculative inventory. They’re making deals at lower prices, and they’re building homes at lower price points. And buyers responded. House sales at the lower end gained market share while houses at the higher end lost market share. Houses that were sold below $200,000 made up 16% of the mix in March, up from 11% in March 2018. Houses that were sold at prices of $400,000 or higher in March made up 29% of the mix, down from 32% in March 2018. This shift in the market, and the price cuts by homebuilders, has pushed the median new house price down 11.8% from the peak in December 2017. The year-over-year price drops starting in November last year were the sharpest such drops since Housing Bust 1:

The new-house sales data, produced jointly by the Census Bureau and the Department of Housing and Urban Development, is volatile. It is revised in the following months, often quite drastically. But after a while, the trends become clear. For the long-term view: The median price of new houses ballooned by about 55% from the range in 2011 and 2012 to the peak in December 2017 ($343,300). This peak had exceeded by 31% the crazy peak of Housing Bubble 1 in March 2007. When it comes to price, the sky is not the limit:

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Give ’em a swap line.

Chinese Banks Are Running Out Of Dollars (ZH)

Following the biggest quarterly credit injection in Chinese history, it is safe to say that China’s banks are flush with yuan loans. However, when it comes to dollar-denominated assets, it’s a different story entirely. As the WSJ points out, in the past few years, a funding problem has emerged for China’s biggest commercial banks, one which is largely outside of Beijing’s control: they’re running low on US dollars so critical to fund operations both domestically and abroad. As shown in the chart below, the combined dollar liabilities at China’s four biggest commercial banks exceeded their dollar assets at the end of 2018, a sharp reversal from just a few years ago.

Back in 2013, the four together had around $125 billion more dollar assets than liabilities, but now they owe more dollars to creditors and customers than are owed to them. The reversal is the result of just one bank: Bank of China, which for many years held more net assets in dollars than any other Chinese lender, ended 2018 owing $72 billion more in dollar liabilities than it booked in dollar assets. The other “top 3” lenders finished the year with more dollar assets than liabilities, even though their net dollar surplus has shrunk substantially in the past five years.

And yet, as everything else with China, there is more than meets the eye: as the WSJ reports looking at Bank of China’s annual report, the bank’s asset-liability imbalance is more than addressed by dollar funding that doesn’t sit on its balance sheet. Instruments like currency swaps and forwards are accounted for elsewhere. This is reminiscent of the shady operations discussed recently involving Turkey’s FX reserves, where the central bank has been borrowing dollar assets from local banks via off balance sheet swaps, which it then used to prop up and boost the lira at a time of aggressive selling of the local currency. It is safe to assume that the PBOC has been engaging in a similar operation.

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Hmmm. Hillary says: “You don’t put impeachment on the table as the only item on the table and say you’re going to get there no matter what.

But as I said yesterday, that is precisely what Nadler appears to do: “I do think, if proven – which hasn’t been proven yet – if proven, some of this would be impeachable, yes,” Nadler said..”

At best awfully close.

Hillary Outlines “Roadmap” To Trump Impeachment (ZH)

Just hours after Nancy Pelosi attempted to mend the gaping division between the realists and the extremists in her party, failed presidential candidate Hillary Clinton decided to pile into the impeachment debate with her own take on the Mueller Report. “Well, I think what Nancy means, and I agree with what she means, is that it shouldn’t be a preordained conclusion, it shouldn’t be what you do for partisan, political purposes almost outside the framework of the Constitution,” she said during an appearance at the Time 100 Summit in New York. “You don’t put impeachment on the table as the only item on the table and say you’re going to get there no matter what, which is what happened in ’99. Instead, you say we are going to proceed with the seriousness that this demands.”

Dripping with irony, Clinton – whose husband was impeached by the House of Representatives in 1998 for perjury and obstruction of justice (only to be acquitted the following year by the Senate), and allegedly used her position to gain personal wealth through pay-to-play peddling of her and her husband’s influence – discuss the roadmap to President Trump’s impeachment and said he should have been indicted. “I have a kind of weird personal history about impeachment,” Clinton said to laughter from the audience. But, “not what you’re thinking,” she added, referring to her time as a staff attorney serving on the impeachment inquiry for former President Richard Nixon two decades earlier in 1974.

“I was one of the young lawyers who actually drafted the memo about what is a high crime and misdemeanor, and it was truly meant by our founders to describe actions that undermine the integrity of our government that placed the personal or political interest in a president over the interest of the nation,” she said.

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It makes no difference where you stand on the issue(s), this is what you will have to deal with going forward. First off, the Horowitz report next month: “he intends to make criminal referrals as a result of his investigation.”

The Conspiracy Against Trump (Giraldi)

Whether the Mueller report is definitive very much depends on the people they chose to interview and the questions they chose to ask, which is something that will no doubt be discussed for the next year if not longer. Beyond declaring that the Trump team did not collude with Russia, it cast little light on the possible Deep State role in attempting to vilify Trump and his associates. The investigation of that aspect of the 2016 campaign and the possible prosecutions of former senior government officials that might be a consequence of the investigation will likely be entertaining conspiracy theorists well into 2020. Since Russiagate has already been used and discarded the new inquiry might well be dubbed Trumpgate.

The media has scarcely reported how Michael Horowitz, the Inspector General of the Department of Justice (DOJ), has been looking into the activities of the principal promoters of the Russiagate fraud. Horowitz, whose report is expected in about a month, has already revealed that he intends to make criminal referrals as a result of his investigation. While the report will only cover malfeasance in the Department of Justice, which includes the FBI, the names of intelligence officers involved will no doubt also surface. It is expected that there will be charges leading to many prosecutions and one can hope for jail time for those individuals who corruptly betrayed their oath to the United States Constitution to pursue a political vendetta.

A review of what is already known about the plot against Trump is revealing and no doubt much more will be learned if and when investigators go through emails and phone records. The first phase of the illegal investigation of the Trump associates involved initiating wiretaps without any probable cause. This eventually involved six government intelligence and law enforcement agencies that formed a de facto task force headed by the CIA’s Director John Brennan. Also reportedly involved were the FBI’s James Comey, Director of National Intelligence James Clapper, Attorney General Loretta Lynch, Department of Homeland Security Director Jeh Johnson, and Admiral Michael Rogers who headed the National Security Agency.

Brennan was the key to the operation because the Foreign Intelligence Surveillance Act (FISA) court refused to approve several requests by the FBI to initiate taps on Trump associates and Trump Tower as there was no probable cause to do so but the British and other European intelligence services were legally able to intercept communications linked to American sources. Brennan was able to use his connections with those foreign intelligence agencies, primarily the British GCHQ, to make it look like the concerns about Trump were coming from friendly and allied countries and therefore had to be responded to as part of routine intelligence sharing. As a result, Paul Manafort, Carter Page, Donald Trump Jr., Jared Kushner and Gen. Michael Flynn were all wiretapped. And likely there were others. This all happened during the primaries and after Trump became the GOP nominee.

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I don’t see any common ground here that could lead to a solution. The country’s split right down the middle.

Theresa May Accuses Labour Of Dragging Its Heels In Brexit Talks (Ind.)

Theresa May has accused Labour of dragging its heels in the bid to find a cross-party compromise to deliver Brexit, even before the talks resumed after Easter. “The discussions with Labour have been serious but had also been difficult in some areas, such as in relation to the timetable for the negotiations,” the prime minister told her cabinet. No 10 fears Jeremy Corbyn does not share Ms May’s desire to avoid next month’s European parliament elections – which would require an agreement within days. The criticism is striking because it is the first time the government has turned on Labour since approaching the opposition three weeks ago.


Until now, it has been Mr Corbyn’s party that has blamed the prime minister for the lack of progress, accusing her of refusing to shift on her red lines – in particular, membership of a customs union. The cabinet discussion took place even before the talks resumed on Tuesday afternoon – but after a failure to hold any meaningful negotiations last week. Ms May’s spokesman told journalists: “The PM said the discussions with Labour had been serious, but had also been difficult in some areas, such as in relation to the timetable for the negotiations. “The PM said that the government’s position was that progress needed to be made urgently as it was vital to deliver on the result of the referendum and for the UK to leave the European Union as soon as possible.”

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They knew that before agreeing to the talks.

Labour Says Theresa May Unwilling To Offer Key Brexit Concessions (G.)

Labour has accused Theresa May of failing to offer any substantive changes to her Brexit deal in cross-party talks, as Downing Street’s hopes of a breakthrough in time to avoid taking part in European parliamentary elections waned. Brexit talks resumed on Tuesday between a team of ministers and shadow ministers. But Labour sources said the government team again appeared unwilling to countenance changes to the political declaration, which sets out the UK’s future relationship with the EU. Instead, ministers offered alternative ways of giving reassurance about the issues Labour has raised, such as on environmental standards and workers’ rights, including through redrafting the withdrawal act implementation bill (WAB) and tweaking separate planned government bills.


Downing Street continues to insist that it hopes to secure parliamentary ratification of a Brexit deal in time to avoid the UK having to participate in next month’s European parliament elections. The government has been considering tabling the WAB as a way of breaking the Brexit deadlock, but Labour has rejected the idea. “There’s a sequence; you have got to start with a different deal,” said a source. After the talks, Jeremy Corbyn blamed the government’s refusal to compromise on central issues such as membership of a customs union for the failure to make significant progress. “We’ll continue putting our case but quite honestly there’s got to be change in the government’s approach. They cannot keep on just regurgitating what has already been emphatically rejected three times by parliament, there’s got to be a change,” Corbyn said.

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They should get Theresa May and Boris Johnson cancelled. Hypocrites.

UK MPs Campaign To Have Donald Trump’s State Visit Cancelled (G.)

Theresa May has been criticised for allowing Donald Trump to make a state visit in June for D-day commemorations, with MPs orchestrating a campaign to stop the US president addressing parliament. Labour said it “beggars belief” that the government is offering the red-carpet treatment to Trump given his attacks on British and American values. Backbenchers began gathering signatures for a petition aiming to force the cancellation of the trip. The three-day trip starting on 3 June was confirmed by Buckingham Palace and the White House on Tuesday. The initial invitation was extended soon after Trump took office but a planned state visit in 2018, with all its pomp and ceremony, was downgraded to an official visit amid security concerns.


This time, Trump is likely to dine with the Queen, attend discussions with May in Downing Street and join an event in Portsmouth to mark the D-day landings. No 10 said the D-day event would be “one of the greatest British military spectacles in recent history” and would include a flypast of 26 types of RAF aircraft and at least 11 Royal Navy ships in the Solent. May said the visit would emphasise that the UK and US “have a deep and enduring partnership that is rooted in our common history and shared interests”. “We do more together than any two nations in the world and we are both safer and more prosperous because of our cooperation,” May said. “The state visit is an opportunity to strengthen our already close relationship in areas such as trade, investment, security and defence, and to discuss how we can build on these ties in the years ahead.”

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Promises to be a good series. But who will pay attention?

The Revelations of WikiLeaks: No. 1 (CN)

WikiLeaks was founded in 2006, but it was the April 5, 2010, publication of “Collateral Murder” that made the whistleblower-publisher a world-wide phenomenon, attracting admirers and enemies. WikiLeaks wrote of the film: “The video, shot from an Apache helicopter gun-sight, clearly shows the unprovoked slaying of a wounded Reuters employee and his rescuers. Two young children involved in the rescue were also seriously wounded.” WikiLeaks noted that Reuters had unsuccessfully attempted to gain access to the video through the Freedom of Information Act in the years after the strike. The day after the release of the footage, The New York Times described WikiLeaks as a once-fringe website that had moved into the big time.

“The site has become a thorn in the side of authorities in the United States and abroad,” it said. “With the Iraq attack video, the clearinghouse for sensitive documents is edging closer toward a form of investigative journalism and to advocacy.” Before 2010 WikiLeaks received a few high-profile journalism awards. But in the years since the publication of the video, it has received a slew of honors, including The Sam Adams Award for Integrity. On April 16, WikiLeaks announced a fresh award for its founder, Julian Assange, even as he remains isolated in a London prison. “Collateral Murder” was one of the most prominent releases sourced from then-Army intelligence analyst Chelsea Manning, who served seven years in a military prison as a result.

Manning, who had access to the video, having a Top Secret clearance, first offered the video to The New York Times and The Washington Post, which both turned her down. Manning then turned to WikiLeaks. Manning described the events that led up to her decision to submit the footage to the press in leaked audio of her testimony during her 2013 court-martial. She said Reuters’ inability to get the footage via a freedom-of-information request contributed to her decision to leak it. “The most alarming aspect of the video for me, was the seemingly delight of bloodlust they [the pilots] appeared to have. They dehumanized the individuals they were engaging with, and seemed to not value human life in referring to them as ‘dead bastards,’ and congratulating each other on the ability to kill in large numbers.”

Marjorie Cohn, a legal analyst, is one of those who has described the contents of the footage as evidence of U.S. war crimes. As such she argues that Manning was legally obligated to expose such information. In a 2013 column for Truthout, she cites the Geneva Conventions, the Army Field Manual and the Uniform Code of Military Justice as all setting forth the duty of a service member to disobey unlawful orders. None of the pilots, military officials nor policy-makers have ever been charged or otherwise held responsible for the events shown in the video.

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Apr 202019
 


Tintoretto The crucifixion of Christ 1568

 

UK Home Secretary: “Full Force Of The Law” Against Extinction Rebellion (G.)
Warren 1st Democratic Presidential Candidate To Call For Impeachment (CBS)
Admitted Russian Agent Butina Asks US Court To Be Lenient (R.)
Debunking All The Assange Smears (CJ)
An Empire of Bullshit (Jim Kunstler)
China Has Not Wasted A Single Penny On War (NW)
Juncker: There Is Still A Risk Of A Car Crash Brexit Despite Delay (R.)
60 Doctors, Other Medical Workers Charged In Federal Opioid Sting (NPR)
Protecting Marine Life Could Be Key In Fighting Climate Change (DM)
The Blue Ocean Event and Collapsing Ecosystems (Hunziker)
A Climate Reckoning Is Coming To Our Political Hothouse (SMH)
Hundreds Of Thousands Of Bees Survive Notre Dame Fire (G.)
Wild Bee Species Collapse By As Much As 90% In New England (AP)

 

 

Yeah, that’s surely the best answer. Ask the French if you can borrow some rubber bullets.

And I kid you not, this 100% doofus dreams of being the next PM.

His problem here is the police say they can’t do much, because the protest are strictly peaceful. And because people just sit or lie down in strategic spots, it takes 4 cops to remove 1 protester.

UK Home Secretary: “Full Force Of The Law” Against Extinction Rebellion (G.)

Sajid Javid has called on police to use the “full force of the law” against Extinction Rebellion protesters causing disruption in London to draw attention to the issue of climate change. The home secretary, who is positioning himself for a run at the Conservative party leadership, made a series of tweets condemning “any protesters who are stepping outside the boundaries of the law”. He called on the police to “take a firm stance” against protesters who were “significantly disrupting the lives of others”. “Over recent days, commuters trying to earn a living have been unable to travel to work and businesses have been disrupted,” he said, following a meeting with Met police chiefs.


“Emergency vehicles have faced difficulties navigating the road networks and the demonstrations have put added pressure on police officers whose job it is to solve crimes and protect the public. “Let me be clear: I totally condemn any protesters who are stepping outside the boundaries of the law. They have no right to cause misery for the millions of people who are trying to lead their daily lives. Unlawful behaviour will not be tolerated.” Hundreds have been arrested and more than 1,000 officers deployed to police the protests, which entered their fourth day on Thursday. Scotland Yard took the rare step of releasing a detailed statement setting out the difficulties they have faced keeping control of the protests, while avoiding infringing on the activists’ rights to demonstrate.

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It’s hard not to ask what exactly “would inflict great and lasting damage on this country”. My guess would be they shy away from this.

Warren 1st Democratic Presidential Candidate To Call For Impeachment (CBS)

Elizabeth Warren became the first Democratic presidential candidate to call for Congress to begin impeachment proceedings against President Trump Friday afternoon, citing the “severity” of “misconduct” detailed in the report by Special Counsel Robert Mueller. “The severity of this misconduct demands that elected officials in both parties set aside political considerations and do their constitutional duty. That means the House should initiate impeachment proceedings against the President of the United States,” the Massachusetts senator wrote on Twitter. In an earlier tweet, Warren said that the report proved that Russia had interfered in the 2016 election with the goal of helping Mr. Trump, and showed that the president “obstructed the investigation into that attack.”


Mueller did not come to a conclusion as to whether Mr. Trump obstructed justice. Warren cited a segment of the report where Mueller wrote that “Congress has authority to prohibit a President’s corrupt use of his authority in order to protect the integrity of the administration of justice.” “To ignore a President’s repeated efforts to obstruct an investigation into his own disloyal behavior would inflict great and lasting damage on this country, and it would suggest that both the current and future Presidents would be free to abuse their power in similar ways,” Warren wrote on Twitter. [..] Other Democrats in Congress, as well as the party’s 2020 candidates, have avoided saying whether they believe Mr. Trump should be impeached. Many have instead called on Mueller to testify before Congress, and for the release of the full, un-redacted report.

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She’s been in solitary confinement (classified as torture) and ‘confessed’ to infiltrating both the GOP and the NRA at the ripe old age of 22-23.

Butina is being used as a propaganda tool. Like Assange.

Admitted Russian Agent Butina Asks US Court To Be Lenient (R.)

Maria Butina, who has admitted to working as a Russian agent to infiltrate an influential U.S. gun rights group and make inroads with conservative activists and Republicans, asked the court to sentence her to time served ahead of her April 26 sentencing, according to court documents. Butina, 30, a former graduate student at American University who publicly advocated for gun rights, pleaded guilty in December to one count of conspiring to act as a foreign agent for Russia. She has remained in custody since her arrest in July 2018. “Although Maria has committed a serious offense, just punishment does not require additional incarceration,” her attorneys argue in a sentencing memo filed on Friday.

Butina, a Russian citizen, expects to be sent back to her native country after being released from jail, her attorney said. “She has been separated from her family, in a foreign country, for over nine months. She has languished for three of those months in administrative segregation – solitary confinement by another name — where she was enclosed in a small cell for 22 hours a day,” the filing states. Butina has admitted to conspiring with a Russian official and two Americans from 2015 until her arrest to infiltrate the National Rifle Association and create unofficial lines of communication to try to make Washington’s policy toward Moscow more friendly. The NRA is closely aligned with U.S. conservatives and Republican politicians including President Donald Trump.

U.S. District Judge Tanya Chutkan in February delayed sentencing at the request of prosecutors, who said Butina was cooperating in their ongoing investigation. Butina’s attorney, Robert Driscoll, said at the time his client was ready for sentencing. Russia in December accused the United States of forcing Butina to falsely confess to what it described as the “absolutely ridiculous charges” of her being a Russian agent.

Read more …

Caitlin wrote an entire book. It’s crazy that this would be necessary. But how likely is it that those who believe the smears will read all of this?

Debunking All The Assange Smears (CJ)

Here’s a numbered list of each subject I’ll be covering in this article for ease of reference:

0. How to argue against Assange smears.

  1. “He’s not a journalist.”
  2. “He’s a rapist.”
  3. “He was hiding from rape charges in the embassy.”
  4. “He’s a Russian agent.”
  5. “He’s being prosecuted for hacking crimes, not journalism.”
  6. “He should just go to America and face the music. If he’s innocent he’s got nothing to fear.”
  7. “Well he jumped bail! Of course the UK had to arrest him.”
  8. “He’s a narcissist/megalomaniac/jerk.”
  9. “He’s a horrible awful monster for reasons X, Y and Z… but I don’t think he should be extradited.”
  10. “Trump is going to rescue him and they’ll work together to end the Deep State. Relax and wait and see.”
  11. “He put poop on the walls. Poop poop poopie.”
  12. “He’s stinky.”
  13. “He was a bad houseguest.”
  14. “He conspired with Don Jr.”
  15. “He only publishes leaks about America.”
  16. “He’s an antisemite.”
  17. “He’s a fascist.”
  18. “He was a Trump supporter.”
  19. “I used to like him until he ruined the 2016 election” / “I used to hate him until he saved the 2016 election.”
  20. “He’s got blood on his hands.”
  21. “He published the details of millions of Turkish women voters.”
  22. “He supported right-wing political parties in Australia.”
  23. “He endangered the lives of gay Saudis.”
  24. “He’s a CIA agent/limited hangout.”
  25. “He mistreated his cat.”
  26. “He’s a pedophile.”
  27. “He lied about Seth Rich.”

Wow! That’s a lot! Looking at that list you can only see two possibilities:

  1. Julian Assange, who published many inconvenient facts about the powerful and provoked the wrath of opaque and unaccountable government agencies, is literally the worst person in the whole entire world, OR
  2. Julian Assange, who published many inconvenient facts about the powerful and provoked the wrath of opaque and unaccountable government agencies, is the target of a massive, deliberate disinformation campaign designed to kill the public’s trust in him.

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“Mr. Mueller himself, even in his majestic granitic silence, will be liable for failing to inform his boss, the Attorney General, that the predicate document for his witch hunt was known to be a fraud back in 2016..”

An Empire of Bullshit (Jim Kunstler)

The Special Prosecutor’s main bit of mischief, of course, was his refusal to reach a conclusion on the obstruction of justice charge. What the media refuses to accept and make clear is that a prosecutor’s failure to reach a conclusion is exactly the same thing as an inability to make a case, and it was a breach of Mr. Mueller’s duty to dishonestly present that failure as anything but that in his report — and possibly an act of criminal prosecutorial misconduct. Like any tantrum, the media’s frenzy will run out of steam (and credibility) and now they will be whipped like dogs for betraying their public trust. There is a counter-narrative to the “Resistance” narrative, and it is a true crime story.

That suppressed story is finally going to roll out in the implacable workings of actual (not fake) justice and it is going to crush a lot of people who concocted this epic political hoax, including some members of the press who knowingly and dishonestly abetted it. Many criminal referrals have already been made on the likes of James Comey, Andrew McCabe, Peter Strzok, Lisa Page, and Bruce Ohr, and a big net has been cast to pull in the figures who have been hiding in the thickets lo these two-and-a-half-years of smoke and gaslight: Loretta Lynch, Sally Yates, John Brennan, James Clapper, Nellie Ohr, Samantha Power, Bill Priestap, Jim Rybicki, James Baker, Mike Kortan, John Carlin, Mary McCord, Josh Campbell and more.

Some of these are going to jail and some have already flipped. The fetchings should reach the Obama White House. Mr. Mueller himself, even in his majestic granitic silence, will be liable for failing to inform his boss, the Attorney General, that the predicate document for his witch hunt was known to be a fraud back in 2016, and was used anyway to spy on a presidential candidate. Let congress put on a carnival of its own now. It will be greeted like a TV commercial for a hemorrhoid remedy while the real national psychodrama plays out in grand juries and courtrooms, demonstrating what a grievous injury was done to this republic by its own vested authorities.

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We can never have enough Jimmy Carter, America’s greatest statesman of the 20th century and another 19 years of the 21st.

China Has Not Wasted A Single Penny On War (NW)

Former President Jimmy Carter told a church congregation this weekend that he had spoken with President Donald Trump about China on Saturday, and said the commander in chief was worried that Beijing had outpaced its global rivals. According to Emma Hurt, a reporter for NPR affiliate WABE, Carter spoke of the call during his regular Sunday School lesson at Maranatha Baptist Church in his hometown of Plains, Georgia. Carter, 94, said Trump was worried that “China is getting ahead of us,” and suggested the president was right to be concerned. He told the congregation that Trump feared China’s growing economic strength. Economic modeling indicated that China would overtake the U.S. as the world’s strongest economy by 2030, and many experts have said that we were already living in what has been dubbed the “Chinese Century.”


Carter said he did not “really fear that time, but it bothers President Trump and I don’t know why. I’m not criticizing him this morning,” he added, to laughs from fellow churchgoers. Carter—who normalized diplomatic relations between Washington and Beijing in 1979—suggested that China’s breakneck growth had been facilitated by sensible investment and buoyed by peace. “Since 1979, do you know how many times China has been at war with anybody?” Carter asked. “None. And we have stayed at war.” The U.S., he noted, has only enjoyed 16 years of peace in its 242-year history, making the country “the most warlike nation in the history of the world,” Carter said. This is, he said, because of America’s tendency to force other nations to “adopt our American principles.”

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See? Car Crash Brexit sounds much better than No-Deal Brexit.

Juncker: There Is Still A Risk Of A Car Crash Brexit Despite Delay (R.)

There is a still a concern that Britain may leave the European Union without a deal to smooth the way, the bloc’s chief executive said on Saturday, urging Britain to take advantage of a six-month delay to work out the details of its departure. European Commission President Jean-Claude Juncker made the comments in an interview with German newspaper FUNKE Mediengruppe, a week after EU leaders gave Britain six months more to exit the EU. “Nobody knows how Brexit will end. This is creating great uncertainty. There is still a fear that there will be a hard Brexit without any withdrawal treaty arrangements,” Juncker said, citing the long-term negative impact on Europe’s economy.


Even though the extension to Oct. 31 offers little clarity on when, how or even if Brexit will happen, Britain should use the time wisely, he said. “I hope that the British will make use of this time and not waste it again. We cannot keep on putting off the withdrawal date indefinitely. The best solution would be for the British to adopt the Withdrawal Agreement during the extra time that has been agreed,” Juncker said. The withdrawal deal negotiated by Prime Minister Theresa May with the EU has been rejected three times by the British parliament. Juncker, who is scheduled to meet U.S. President Donald Trump at the G20 meeting in Osaka in June, predicted a “lively discussion” ahead. “The last discussion lasted 6 hours and it is good that you were not there,” Juncker said, referring to raised voices at his last talks with Trump.

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“The cases involve more than 350,000 prescriptions for controlled substances and more than 32 million pills..”

60 Doctors, Other Medical Workers Charged In Federal Opioid Sting (NPR)

Federal prosecutors are charging 60 doctors, pharmacists, medical professionals and others in connection with alleged opioid pushing and health care fraud, the Justice Department said Wednesday. The charges came less than four months after the Justice Department dispatched experienced fraud prosecutors across hard-hit regions in Appalachia. The cases involve more than 350,000 prescriptions for controlled substances and more than 32 million pills — the equivalent of a dose of opioids for “every man, woman and child,” across Ohio, Kentucky, Tennessee, Alabama and West Virginia, said Assistant Attorney General Brian Benczkowski.


“You can rest assured, when medical professionals behave like drug dealers, the Department of Justice is going to treat them like drug dealers,” added Benczkowski, who runs the DOJ’s criminal division. Those charged include 31 doctors, seven pharmacists, eight nurse practitioners and seven other licensed medical professionals, the Justice Department said. The idea for the department’s Appalachian Regional Prescription Opioid Strike Force was formed last autumn to assist areas suffering from high numbers of opioid overdoses and deaths. Justice Department leaders ultimately approved sending 14 health care fraud prosecutors to several different federal districts to help build cases. They started in January, sifting through data analysis to find the biggest outliers.

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At some point we may figure out that all pieces of the system are interconnected. Probably when it’s too late and the sytem has fallen apart.

Protecting Marine Life Could Be Key In Fighting Climate Change (DM)

As the prospect of catastrophic effects from climate change becomes increasingly likely, a search is on for innovative ways to reduce the risks. One potentially powerful and low-cost strategy is to recognize and protect natural carbon sinks – places and processes that store carbon, keeping it out of Earth’s atmosphere. Forests and wetlands can capture and store large quantities of carbon. These ecosystems are included in climate change adaptation and mitigation strategies that 28 countries have pledged to adopt to fulfill the Paris Climate Agreement. So far, however, no such policy has been created to protect carbon storage in the ocean, which is Earth’s largest carbon sink and a central element of our planet’s climate cycle.


[..]Marine animals can sequester carbon through a range of natural processes that include storing carbon in their bodies, excreting carbon-rich waste products that sink into the deep sea, and fertilizing or protecting marine plants. In particular, scientists are beginning to recognize that vertebrates, such as fish, seabirds and marine mammals, have the potential to help lock away carbon from the atmosphere.


Scientists have identified nine mechanisms through which marine vertebrates play roles in the oceanic carbon cycle

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Blue ocean in the Arctic is not good.

The Blue Ocean Event and Collapsing Ecosystems (Hunziker)

Sometime in the near future it is highly probable that the Arctic will no longer have sea ice, meaning zero ice for the first time in eons, aka: the Blue Ocean Event. Surely, the world is not prepared for the consequences of such an historic event, which likely turns the world topsy-turvy, negatively impacting agriculture with gonzo weather patterns, thus forcing people to either starve or fight. But, the problem may be even bigger than shortages of food, as shall be discussed. Still and all, it’s somewhat consoling to know that the Blue Ocean Event is quite controversial within the scientific community. There are climate scientists that believe Arctic ice will be there beyond this century. One can only hope they are right because an ice-free Arctic will indubitably create havoc for life on the planet.


However, disturbingly, the prospects for enduring sea ice don’t look good. [..] Over the past 40 years the loss of Arctic sea ice has rapidly progressed, e.g., from 1976-87 Arctic sea ice thickness decreased by 15%… during the 1990s, thickness decreased by 43% … and today 75% of the sea ice is gone… resulting in an impairment of sea ice albedo, which reflects solar radiation back into outer space by 80-90% with sea ice, but conversely, without sea ice, it absorbs 80-90% of solar radiation into the dark background of iceless water where crucial untold dangers lurk.

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Two problems: climate and ISIL. Reaction to the first: we’re powerless. The second: let’s spend billions on weapons.

A Climate Reckoning Is Coming To Our Political Hothouse (SMH)

When Tony Abbott was prime minister, he ordered more Australian strike aircraft and troops into Iraq. Not because Australia was big enough to turn the tide of battle against the barbarians of Daesh, so-called Islamic State or ISIL. But because he believed in the fight. m”It’s absolutely vital that the world sees and sees quickly that the ISIL death cult can be beaten,” he said in 2014. Australia’s commitment ultimately made up less than 1 per cent of the combined effort against the terrorist thugs but it was early and firm. Abbott described it as “an important global concern” and he was right. And, with more than 60 countries co-operating, it was a success. When it came to another important global concern, Abbott argued a very different case.


He and like-minded Coalition conservatives have long maintained that Australian action against climate change was futile: “Even if carbon dioxide, a naturally occurring trace gas that’s necessary for life, really is the main climate change villain, Australia’s contribution to mankind’s emissions is scarcely more than 1 per cent,” Abbott said last year. On terrorism, Abbott argued for Australian leadership. On climate change, he argued for wilful helplessness. Australia is a 1 per cent contributor in both cases. In one case, it used its 1 per cent to show leadership and effective action. On the other, it used its 1 per cent as an excuse for inaction. The defining difference, of course, is will. Specifically, political will. Australia is at another decision point on climate change as it heads to the May 18 election.

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It’s a miracle!

Hundreds Of Thousands Of Bees Survive Notre Dame Fire (G.)

Following the tragedy of Monday’s fire at the Notre Dame Cathedral in Paris, news came on Friday of a miracle as sweet as honey. The hundreds of thousands of bees that lived in hives inside Notre Dame’s roof are alive and well, according to the beekeeper, or apiculteur, that oversees them. “Thank goodness the flames didn’t touch them,” Nicolas Géant, the hives’ 51-year-old beekeeper, told CNN. “It’s a miracle.” Three hives that are home to an estimated 60,000 bees each – 180,000 bees in total – are located on a lower roof atop the cathedral’s first floor.


The flames of Monday’s fire – which investigators say was probably caused by an electrical short circuit – took down the cathedral’s spire and a large portion of its roof. For a few days after the fire, Géant was worried about his beloved bees, and the French police and firefighters wouldn’t let him go up on the roof to check on them. Hopes that the bees survived rested on aerial photos of the cathedral’s roof, which showed the hives still intact. “You see that everything is burnt, there are holes in the roof, but you can still see the three beehives,” Géant told NBC News on Wednesday.

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Maybe those Paris bees can move to New Hampshire.

Wild Bee Species Collapse By As Much As 90% In New England (AP)

More than a dozen wild bee species critical to pollinating everything from blueberries to apples in New England are on the decline, according to a new study. Researchers from the University of New Hampshire wanted to understand if the documented declines hitting honeybees and bumblebees were also taking a toll on the lesser studied bee species in New Hampshire. So they examined 119 species in the state from a museum collection at the college dating back 125 years. Writing in the peer-reviewed journal Insect and Conservation Diversity this month, Sandra Rehan and Minna Mathiasson concluded 14 species found across New England were on the decline by as much as 90 percent. Several of them are leafcutter and mining bees, which, unlike honeybees, nest in the ground.

“We know that wild bees are greatly at risk and not doing well worldwide,” Rehan, assistant professor of biological sciences and the senior author on the study, said in a prepared statement. “This status assessment of wild bees shines a light on the exact species in decline, beside the well-documented bumble bees. Because these species are major players in crop pollination, it raises concerns about compromising the production of key crops and the food supply in general.” The study noticed that half of those wild bees on the decline were located in higher elevation regions like the White Mountains than in the state’s coastal areas. The study said as the wild bees shift northward, some of the species don’t have the same kind of flowers and plants to pollinate.

“They have nowhere else to go,” Rehan said. “That is the biggest concern.” Rehan warned as wild bee populations collapse so will crop yields, which could produce food shortages across the country. She says wild bees are facing similar threats that have also caused honeybee populations to plunge – including the overuse of pesticides and herbicides, a lack of seasonal wild plant diversity and volatile weather.

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Apr 172019
 


Jacques-Louis David Coronation of Napoleon in 1804 in Nôtre-Dame Cathedral 1805-7 (10 metres wide, 6 metres tall)

 

World Trade Suffers Biggest Collapse Since Financial Crisis (ZH)
Iran Parliament Declares US Central Command A ‘Terrorist Organization’ (RT)
CIA Director Used Fake Skripal Incident Photos To Manipulate Trump (MoA)
Affidavit Tries To Put WikiLeaks In Cahoots With The Taliban (ZH)
Suzie Dawson on Julian Assange’s Mistreatment (Unity4J)
Jesus Christ, Julian Assange: When Dissidents Become Enemies Of The State (JW)
First They Came For Assange (Varoufakis)
Macron Commits To Rebuilding Notre Dame Within Five Years (Ind.)
May Has ‘No Chance’ Of Avoiding EU Elections (Ind.)
Tory Deregulation Agenda Is Stalling Brexit Talks – Corbyn (G.)
Not In It To Win It: The Dirty Little Secret Of The Democrats’ 2020 Battle (G.)
Six-Decade Plankton Study Charts Rise Of Ocean Plastic Waste (G.)
Mark Carney Tells Global Banks They Cannot Ignore Climate Change (G.)
The Kids Aren’t Nearly Angry Enough (Spiegel)

 

 

The financial crisis is 11-12 years old. But the deception is brilliant: everybody thinks it’s over.

World Trade Suffers Biggest Collapse Since Financial Crisis (ZH)

The recent collapse in world trade volume is the worst since the financial crisis and as dangerous as during the dot-com bubble of the early 2000s, according to The Telegraph. Data from the CPB Netherlands Bureau for Economic Policy Analysis revealed that world trade volume dropped 1.8% in the three months to January compared to the preceding three months as a synchronized global downturn gained momentum. “An industrial slump has been triggered by a perfect storm of factors, including China’s slowdown, the car industry downturn, Brexit paralysis and Donald Trump’s attempt to upend the international trade system with tariffs on European and Chinese goods,” explained The Telegraph.

A further escalation of the trade war between the U.S. and China could spark a world trade recession. Already, Washington has imposed steep tariffs on Chinese imports worth $250bn in a tit-for-tat battle with industrial centers in Asia and Germany experiencing sharp drops in trade in recent months. The Telegraph describes the sudden loss in trade momentum is equivalent to the months after the dot com bubble imploded in 2001 when trade volumes sank as much as 2.2%. Today’s current move is the biggest fall since the financial crisis of 2007–2008 when global trade plummeted, diving as much as 12.7%. The IMF warned last week that this is a “delicate moment” for the global economy as many countries are in the midst of a severe slowdown.

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“We” are losing to Iran all over again.

Iran Parliament Declares US Central Command A ‘Terrorist Organization’ (RT)

The US Central Command (CENTCOM) has been designated as a “terrorist organization” by the Iranian parliament, in a mirror response to Washington’s blacklisting of Tehran’s Revolutionary Guard. All organizations, institutions and forces under CENTCOM command were acknowledged to be “terrorists” by the overwhelming majority of the Iranian MPs, who approved the contents of the bill, which also condemns the US move to blacklist the IRGC, an official military branch of the Islamic Republic of Iran’s Armed Forces. “The Islamic Republic of Iran’s government and Armed Forces are required to adopt preventive actions and preemptive defensive measures whenever necessary, to deter any hostile US forces’ use of any possibilities against the Islamic Republic of Iran’s interests,” the bill states, according to Fars news.


Anyone offering military, intelligence, financial, or any other support to CENTCOM and its affiliate forces will be considered supporters of terrorism. The 13-article legislation also mandates the general staff to begin gathering intelligence about CENTCOM activities so that the material can be used in Iranian courts to prosecute specific individuals. The bill, however, does not mention the exact mechanisms through which Americans are expected to be brought to justice under Iranian laws. Last week the US, for the first time ever, designated an official foreign military institution –the IRGC– as a terrorist organization, as tensions between the states were pushed to the limit following President Donald Trump’s unilateral withdrawal from the Iranian Nuclear deal (JCPOA) and the reintroduction of sanctions that followed.

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Ducks and babies. We kid you not.

CIA Director Used Fake Skripal Incident Photos To Manipulate Trump (MoA)

An ass kissing portrait of Gina Haspel, torture queen and director of the CIA, reveals that she lied to Trump to push for more aggression against Russia. In March 2018 the British government asserted, without providing any evidence, that the alleged ‘Novichok’ poisoning of Sergej and Yulia Skripal was the fault of Russia. It urged its allies to expel Russian officials from their countries. The U.S. alone expelled 60 Russian officials. Trump was furious when he learned that EU countries expelled less than 60 in total. The expulsion marked a turn in the Trump administration’s relation with Russia: “The incident reflects a tension at the core of the Trump administration s increasingly hard-nosed stance on Russia: The president instinctually opposes many of the punitive measures pushed by his Cabinet that have crippled his ability to forge a close relationship with Russian President Vladimir Putin. “

Today the New York Times portraits Gina Haspel’s relation with Trump. The writers seem sympathetic to her and the CIA’s position. They include an anecdote of the Skripal expulsion decision that is supposed to let her shine in a good light. But it only proves that the CIA manipulated the president for its own purpose: “Last March, top national security officials gathered inside the White House to discuss with Mr. Trump how to respond to the nerve agent attack in Britain on Sergei V. Skripal, the former Russian intelligence agent. London was pushing for the White House to expel dozens of suspected Russian operatives, but Mr. Trump was skeptical. …

[..] During the discussion, Ms. Haspel, then deputy C.I.A. director, turned toward Mr. Trump. She outlined possible responses in a quiet but firm voice, then leaned forward and told the president that the strong option was to expel 60 diplomats. Ms. Haspel showed pictures the British government had supplied her of young children hospitalized after being sickened by the Novichok nerve agent that poisoned the Skripals. She then showed a photograph of ducks that British officials said were inadvertently killed by the sloppy work of the Russian operatives. Ms Haspel was not the first to use emotional images to appeal to the president, but pairing it with her hard-nosed realism proved effective: Mr. Trump fixated on the pictures of the sickened children and the dead ducks. At the end of the briefing, he embraced the strong option.

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Can we throw in Pol Pot next? I’ll see your Bin Laden and raise you a Stalin.

Affidavit Tries To Put WikiLeaks In Cahoots With The Taliban (ZH)

The document uses maximal and hyped language to describe “one of the largest compromises of classified information in the history of the United States,” yet struggles to ascertain whether “illegal agreement that Assange and Manning reached” specifically led to the release of the document trove (obviously crucial for charges against Assange to hold up). Concerning a potential extradition to the US, “probable cause” is cited to be the hundreds of messages sent between Manning and Assange on the Jabber platform. The argument is that Assange and Manning understood that it “would cause injury to the United States,” especially with US forces active on the ground in Afghanistan.

But on this point of whether the leaks did actual harm and damage to US efforts, the document is left reaching, trying to spin and insinuate a narrative that puts WikiLeaks and terrorist groups like the Taliban and al-Qaeda in cahoots. It starts by claiming that “after the release of the Afghanistan War Reports, a member of the Taliban contacted the New York Times.” The supposed Taliban member said, “We are studying the report… If they are US spies, then we will know how to punish them.” This strange and somewhat comical example is meant to support the notion that Assange ultimately aided America’s enemies with the leaks. [..] Worse, the affidavit makes Osama bin Laden — killed in a 2011 raid by US Navy Seals while living comfortably in an Abbottabad, Pakistan compound — out to be a WikiLeaks fan, given letters had been found instructing an al-Qaeda member to “gather” the publicly available material leaked by Manning.

Somehow this is meant to imply WikiLeaks in a round-about way assisted al-Qaeda’s mission. The FBI is perhaps left grasping with this “bin Laden benefited” theory given the relative flimsiness of evidence to support the original “conspiracy to commit computer intrusion” aspect on which the case originated.

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Brilliant argument: “The question is not whether Julian is a journalist, the question is whether THEY are journalists.”

Suzie Dawson on Julian Assange’s Mistreatment (Unity4J)

Suzie Dawson powerfully expresses her feelings of righteous indignation on witnessing Julian Assange being dragged from the Ecuadorean Embassy, and reflects on his mistreatment by the establishment and their propaganda arm, the complicit corporate media.

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So let that Pope of yours stand up for Julian. Do something useful with the $600 million already donated for the Notre Dame. THAT is what your Jesus would have done.

Jesus Christ, Julian Assange: When Dissidents Become Enemies Of The State (JW)

And then there was Jesus Christ, an itinerant preacher and revolutionary activist, who not only died challenging the police state of his day—namely, the Roman Empire—but provided a blueprint for civil disobedience that would be followed by those, religious and otherwise, who came after him. Indeed, it is fitting that we remember that Jesus Christ—the religious figure worshipped by Christians for his death on the cross and subsequent resurrection—paid the ultimate price for speaking out against the police state of his day. A radical nonconformist who challenged authority at every turn, Jesus was a far cry from the watered-down, corporatized, simplified, gentrified, sissified vision of a meek creature holding a lamb that most modern churches peddle.


In fact, he spent his adult life speaking truth to power, challenging the status quo of his day, and pushing back against the abuses of the Roman Empire. Much like the American Empire today, the Roman Empire of Jesus’ day had all of the characteristics of a police state: secrecy, surveillance, a widespread police presence, a citizenry treated like suspects with little recourse against the police state, perpetual wars, a military empire, martial law, and political retribution against those who dared to challenge the power of the state. For all the accolades poured out upon Jesus, little is said about the harsh realities of the police state in which he lived and its similarities to modern-day America, and yet they are striking.

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Yanis has this completely upside down, like so many other well-meaning people:

“Let’s join forces to block #Assange’s extradition from any European country to the #US so that he can travel to Stockholm & give his accusers an opportunity to be heard”.

The accusers, if they are real, which is by no means clear, have been silenced by the Swedish government for a reason. And to say now that you can’t speak on the allegations because you too are a man, only reinforces that reason.

Assange has offered for years to talk, and for his accusers to be heard. That never needed to take place in Stockholm, and it does not now. It wouldn’t help anyone.

First They Came For Assange (Varoufakis)

My meetings with WikiLeaks founder Julian Assange all took place in the same small room. As the intelligence services of a variety of countries know, I visited Assange in Ecuador’s London embassy many times between the fall of 2015 and December 2018. What these snoops do not know is the relief I felt every time I left. I wanted to meet Assange because of my deep appreciation of the original WikiLeaks concept. As a teenager reading George Orwell’s Nineteen Eighty-Four, I, too, was troubled by the prospect of a high-tech surveillance state and its likely effect on human relations. Assange’s early writings – particularly his idea of using states’ own technology to create a huge digital mirror that could show everyone what they were up to – filled me with hope that we might collectively defeat Big Brother.

By the time I met Assange, that early hope had faded. Surrounded by bookcases featuring Ecuadorian literature and government publications, we would sit and chat late into the night. A device on top of a bookshelf emitted mind-numbing white noise to counter listening devices. As time passed, the claustrophobic living room, the badly hidden ceiling-mounted camera pointing at me, the white noise, and the stale air made me want to run out into the street. Assange’s detractors have been saying for years that his confinement was self-inflicted: he hid in Ecuador’s embassy because he jumped bail in the United Kingdom to avoid answering sexual assault allegations in Sweden. As a man, I feel I have no right to express an opinion regarding those allegations. Women must be heard when reporting assault.

Only the violence that men have inflicted upon women for millennia is viler than the disrespect and denigration to which women are subjected when they speak up. I recall saying to Julian that, had it been me, I would want to confront my accusers, and listen to them carefully and respectfully, regardless of whether official charges had been brought. He replied that he, too, wanted that. “But, Yanis,” he said, “if I were to go to Stockholm, they would throw me in solitary and, before I got a chance to answer any allegations, I would be bundled into a plane heading for a US supermax prison.” To drive the point home, he showed me his lawyers’ offer to Swedish authorities to go to Stockholm if they guaranteed that he would not be extradited to the United States on espionage charges. Sweden never considered the proposal.

During Assange’s years in Ecuador’s embassy, in circumstances that the United Nations deemed “arbitrary detention,” many friends and colleagues mocked his fear – and lambasted me for believing him. Last September, the historian and feminist intellectual Germaine Greer summed up that belief on Australian public radio: “He won’t be extradited to the United States,” she said derisively, blaming Julian’s lawyers for misleading him into fearing such an extradition while collecting his book’s royalties.

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Make that 50. Jesus himself would have to help. Alternatively, we can see this as a sign that Macron doesn’t expect to last as president for 5 years.

Macron Commits To Rebuilding Notre Dame Within Five Years (Ind.)

French president Emmanuel Macron promised that Notre Dame will be renovated within five years and will be “even better than before” after the devastating fire that ravaged much of the building. Investigators have already begun assessing the damage and questioning people to try to establish what started the blaze that consumed the roof and spire of the 850-year-old Gothic masterpiece. More then €600m has already been raised for rebuilding and restoration and the UK has said it stands ready to help. Firefighters battled for 14 hours to extinguish the flames, as onlookers feared the entire structure would be wrecked. But Parisians breathed a sigh of relief when it became clear the twin medieval bell towers had been spared and later when fire investigators revealed that “most precious” treasures have been saved.


They included the Crown of Thorns, a relic venerated by Christians and believed to have been worn by Jesus Christ, as well as the cathedral’s 18th-century organ and a number of artworks. European Council president Donald Tusk called on the European Union’s member countries to help, saying the site in central Paris is a symbol of what binds Europe together. The fire, which began on Monday evening, is thought to have been caused by an accident rather than arson, the Paris public prosecutor said. Architects warned repairs could take decades but in a televised address to the nation Mr Macron said: “We will rebuild Notre Dame even more beautifully, and I want it to be completed in five years, we can do it.”

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“..experts have concluded..”

May Has ‘No Chance’ Of Avoiding EU Elections (Ind.)

Theresa May has “no chance” of passing her Brexit deal in time to pull the UK out of the European parliament elections and avoid a likely devastating defeat, experts have concluded. Time has already effectively run out on attempts to ratify the agreement by 22 May, they say – despite the prime minister insisting talks with Labour can still deliver a compromise before the deadline. The verdict puts the Conservatives on course to lose most of their MEPs, polls suggest, as Leave voters protest at the failure to deliver Brexit, a disastrous result that would trigger huge pressure on Ms May to resign. The staging of the elections will also be a personal humiliation for the prime minister, who repeatedly told MPs they should not take place, three years after the Brexit referendum.


More talks with Labour are planned, as No 10 claims the complex (Withdrawal Agreement) Bill – required to ratify EU withdrawal – can clear parliament before voters go to the polls on 23 May. But two respected think tanks have told The Independent the timetable is a fantasy, with one suggesting it will take “several months” to approve the legislation, which could involve up to 100 votes. Unlike the simple meaningful vote, the full legislation will trigger lengthy and gruelling parliamentary trench warfare, with echoes of the bitter battles over the Maastricht and Lisbon treaties. Approval of Maastricht took 41 days in 1993, while Lisbon required 25 days in 2008 – but there are only 17 sitting days planned before 22 May.

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There is no way they could ever agree.

Tory Deregulation Agenda Is Stalling Brexit Talks – Corbyn (G.)

Jeremy Corbyn has said Brexit talks with the government are stalling because of a Tory desire for post-withdrawal deregulation, including as part of a US trade deal. Corbyn said Labour had been putting forward a robust case for a customs union during the talks over the past week but suggested he feared the two sides would not find common ground. “There has to be access to European markets and above all there has to be a dynamic relationship to protect the conditions and rights that we’ve got for environment and consumer workplace rights,” he said. “We’ve put those cases very robustly to the government and there’s no agreement as yet.”


Meetings are scheduled this week between ministers and shadow ministers on environmental protections, security and workers’ rights, which Corbyn described as “quite interesting, quite long technical discussions, particularly on environment regulations”. However, there will be no discussion before Easter on the big issues of a customs union or a confirmatory referendum. Corbyn underlined again that an agreement could only be reached if Theresa May was prepared to accept Labour’s central demand for a common external tariff policy with the EU. “The government doesn’t appear to be shifting the red lines because they’ve got a big pressure in the Tory party that actually wants to turn this country into a deregulated, low-tax society which will do a deal with Trump. I don’t want to do that,” he said.

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The Delusional Party.

Not In It To Win It: The Dirty Little Secret Of The Democrats’ 2020 Battle (G.)

Political scientists are quick to point out two reasons why a record number of candidates is running for president on the Democratic side in 2020. One: the Republican president, Donald Trump, is vulnerable with a low-40s approval rating, so the Democratic nominee has a good shot at winning the White House. Two: there’s no bigfoot candidate this time around – no incumbent, no Hillary Clinton – to dissuade other potential candidates from running. Those conditions have lured 15 major candidates so far into the race for the Democratic nomination, with as many as half a dozen more potentially getting in, including former vice-president Joe Biden, who has yet to officially declare. The previous record for major candidates in a presidential primary field was 17, on the Republican side in 2016.


But analysts also nod to a third factor inflating the gigantic 2020 Democratic field, a not-quite-dirty little secret about presidential politics. The fact is, not all of the people running for president are actually running for president. “There is almost always at least a few candidates in these kinds of fields that are either there to push an issue agenda, or these are candidates who are interested in building their name recognition, building their stature and status within the party,” said John Sides, professor of political science at George Washington University and editor-in-chief of The Monkey Cage politics analysis site.

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How much plastic is inside of you?

Six-Decade Plankton Study Charts Rise Of Ocean Plastic Waste (G.)

A trove of data showing when the Atlantic began choking with plastic has been uncovered in the handwritten logbooks of a little-known but doggedly persistent plankton study dating back to the middle of the last century. From fishing twine found in the ocean in the 50s, then a first carrier bag in 1965, it reflects how the marine refuse problem grew from small, largely ignored incidents to become a matter of global concern. The unique dataset, published in Nature Communications, is based on records from the continuous plankton recorder, a torpedo-shaped marine sampling device that has been towed across more than 6.5m nautical miles of ocean over the past 60 years.


Bryozoans, nudibranchs, crabs, and barnacles live on a clear plastic bottle in the ocean. Photograph: Justin Hofman/Greenpeace/PA

Based firstly in Hull, then Edinburgh and Plymouth, the long-running programme was initially designed to collect pelagic plankton, which are an indicator of water quality and also a source of food for whales and other marine life. But the operators have also kept a chart-and-counter track of entanglements that disrupted their work: what snared the equipment, where it happened and when. This has proved a valuable source of data on plastic waste, according to contemporary researchers. “This consistent time series provides some of the earliest records of plastic entanglement, and is the first to confirm a significant increase in open ocean plastics in recent decades,” the paper notes.

The start of the problem was so slow it was barely noticed. The log shows strands of fishing twine found off the east coast of Iceland in 1957, then a carrier bag in waters to the north-west of Ireland eight years later. The paper states this was a couple of years before the first reports of turtles and seabirds becoming ensnared in plastic. Over the following decades the problem grew steadily. In the 50s, 60s and 70s, fewer than 1% of tows were disrupted by entanglements with synthetic materials. By the 90s it was almost 2%, and in the first decade of this century the increase “was of an order of magnitude”, according to the paper. The figure is now hovering somewhere between 3% and 4%.

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Note: if you find yourself agreeing with Carney, and you fail to see the absurdity in this, seek treatment. Carney is a full-time douche. He’s saying going green is a profit opportunity.

Mark Carney Tells Global Banks They Cannot Ignore Climate Change (G.)

The global financial system faces an existential threat from climate change and must take urgent steps to reform, the governors of the Bank of England and France’s central bank have warned, writing in the Guardian. In an article published in the Guardian on Wednesday aimed at the international financial community, Mark Carney, the Bank’s governor, and Villeroy de Galhau, the governor of the Banque de France, said financial regulators, banks and insurers around the world had to “raise the bar” to avoid catastrophe. They said: “As financial policymakers and prudential supervisors we cannot ignore the obvious physical risks before our eyes. Climate change is a global problem, which requires global solutions, in which the whole financial sector has a central role to play.”


The warning comes as concern over the impact of climate change and the lack of urgent action is increasing, reflected in the Extinction Rebellion protests and schoolchildren’s strikes across the world. The heads of two of the world’s most influential central banks urged other financial regulators around the world to carry out climate change stress tests to spot any risks in the system, while also calling for more collaboration between nations on the issue. They warned that a “massive reallocation of capital” was necessary to prevent global warming above the 2°C maximum target set by the Paris climate agreement, with the banking system required to play a pivotal role. “If some companies and industries fail to adjust to this new world, they will fail to exist,” Carney and De Galhau said.

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Apr 152019
 
 April 15, 2019  Posted by at 9:40 am Finance Tagged with: , , , , , , , , , , , , , ,  


Jack Delano South Puerto Rico Sugar Company plant, Ensenada, Puerto Rico 1942

 

Trump: The Stock Market Could Be As Much As 10,000 Points Higher (MW)
Pelosi Rips AOC, Says Her Posse In Congress Is ‘Like Five People’ (NYPost)
Assange Tried To Use Embassy As ‘Centre For Spying’ – Moreno (G.)
I’m Jumping Off the Trump Train: Assange Was the Last Straw (Jatras)
Democrats And Liberals Cheering Assange’s Arrest Are Foolish (Robinson)
Assange Is A Scapegoat, Distraction For Scandal-Ridden Ecuador Government (ZH)
Hackers Warn UK Gov: ‘Free Assange or Chaos is Coming for You’ (Cassandra)
American Airlines Extends Boeing 737 MAX Grounding Until Mid-August (RT)
Huawei Is ‘Open’ To Selling 5G Chips To Apple For iPhones (CNBC)
The Truth About Brexit In 135 Words (Eric Peters)
Brexit Cannot Break The Iron Triangle (HCG)

 

 

He gets very close to clamoring for a state-run economy. Let’s have a 5-year plan, shall we? It’s not that you couldn’t manipulate the ‘market’ 10,000 ponits higher right now, it’s what happens after that.

Trump: The Stock Market Could Be As Much As 10,000 Points Higher (MW)

The value of the U.S. stock market has risen by $9.1 trillion, or 35.6%, since Election Day in 2016, according to Wilshire Associates. For President Donald Trump, that’s not nearly enough. Lately, he’s been blasting the Federal Reserve for raising rates, and he’s steadily urged the central banks to revert to the policies that supported the market during the last crisis, including the resumption of the Fed’s bond-buying program. “I would say in terms of quantitative tightening, it should actually now be quantitative easing,” he said last week. “You would see a rocket ship.”


On Sunday, he put numbers to that potential “rocket ship” rally: ‘If the Fed had done its job properly, which it has not, the Stock Market would have been up 5000 to 10,000 additional points, and GDP would have been well over 4% instead of 3%… with almost no inflation. Quantitative tightening was a killer, should have done the exact opposite!’ Trump’s tweet comes amid opposition from the Senate over his two picks, Herman Cain and Stephen Moore, for open seats on the Federal Reserve’s Board of Governors. Cain, according to a report from ABC News on Friday, plans to remove his name from consideration.

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Pelosi is one scary woman, a talking mummy. She’s everything that’s wrong with Washington. But it’s sort of good that the young ones have to fight. Still, that should start with standing up for Assange, because that’s where the establishment’s ugliness shows most.

Pelosi Rips AOC, Says Her Posse In Congress Is ‘Like Five People’ (NYPost)

House Speaker Nancy Pelosi just sent some more shade to Rep. Alexandria Ocasio-Cortez. In a “60 Minutes” interview, correspondent Lesley Stahl pointed out the different groups within the House Democratic caucus. “You have these wings — AOC and her group on one side,” Stahl said. “That’s like five people,” Pelosi interrupted. Stahl corrected the snarky remark, saying that the “progressive group is more than five.” “Well, I’m progressive — I’m a progressive, yeah,” Pelosi responded. The Congressional Progressive Caucus has 98 members and is the second largest group of Democrats in the Congress. Ocasio-Cortez is one of the group’s most recognizable freshmen members.

Seven Democratic House members, including Ocasio-Cortez, are supported by the progressive political action the Justice Democrats, which Pelosi could also have been referring to. On several occasions now, Pelosi has downplayed any splits within her ranks — and also tried to dim some of Ocasio-Cortez’s star power. In a recent interview with USA Today, the House Speaker pointed out that votes are more significant than Twitter followers — a remark that was also interpreted to be a dig at AOC. “While there are people who have a large number of Twitter followers, what’s important is that we have a large number of votes on the floor of the House,” Pelosi said.

On “60 Minutes” Pelosi said her Democrats weren’t fractured by those loud voices on the left. “By and large, whatever orientation they came to Congress with, they know that we have to hold the center. That we have to … go down the mainstream,” Pelosi said. When asked by Stahl if they really know that, Pelosi answered in the affirmative. “They do,” she said.

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The Guardian’s carefully constructed smear. No shame. Expect more, and expect it to get more intense. The paper has built strong ties with Ecuador ever since Moreno was elected with the explicit goal of smearing Assange.

Assange Tried To Use Embassy As ‘Centre For Spying’ – Moreno (G.)

Julian Assange repeatedly violated his asylum conditions and tried to use the Ecuadorian embassy in London as a “centre for spying”, Ecuador’s president has said in an interview with the Guardian. Lenín Moreno also said he had been given written undertakings from Britain that Assange’s fundamental rights would be respected and that he would not be sent anywhere to face the death penalty. Assange, 47, was taken from the embassy by British police last Thursday after Ecuador revoked his political asylum, ending a stay there of nearly seven years. The WikiLeaks co-founder faces up to 12 months in prison after being found guilty of breaching his bail conditions when he entered the Ecuadorian embassy in 2012.

He made the move after losing a battle against extradition to Sweden where he faced allegations including of rape, which he denies. He is now expected to fight extradition to the US over an allegation that he conspired with the former army intelligence analyst Chelsea Manning to break into a classified government computer. Sweden is weighing up whether to reopen an investigation into the rape and sexual assault allegations. When there are competing extradition requests in the UK, the home secretary decides which country should take priority. Moreno’s move against Assange has proved controversial in Ecuador. The previous president, Rafael Correa, has accused his one-time political ally of “a crime humanity will never forget” and described Moreno as “the greatest traitor in Ecuadorian and Latin American history”.

In what may have been part of a campaign to weaken Moreno, WikiLeaks was linked to an anonymous website that claimed Moreno’s brother had created an offshore company, and it leaked material included private pictures of Moreno and his family. In his first interview with English-speaking media since Assange was ejected from the embassy, Moreno denied he had acted as a reprisal for the way in which documents about his family had been leaked, and said he regretted that Assange had allegedly used the embassy to interfere in other country’s democracies. “Any attempt to destabilise is a reprehensible act for Ecuador, because we are a sovereign nation and respectful of the politics of each country,” he said in the interview, which was conducted by email.

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Many will follow.

I’m Jumping Off the Trump Train: Assange Was the Last Straw (Jatras)

It’s plain and simple. The same entities (Deep State, permanent government, the oligarchy, the Borg, whatever term you like) that targeted Trump with the phony Russia collusion narrative want Assange’s scalp nailed to the wall. It’s one thing for favored outlets like the Washington Post and CNN to disseminate classified information that favors the Deep State, quite another to reveal information contrary to its interests. As the premier dispenser of embarrassing secrets that facilitates online dissidence from the established narrative (also under attack by governments and their tech giant accomplices) an example must be made of Assange pour encourager les autres.

He can count on being sentenced to rotting for decades in a nasty Office Space federal prison (the US will gladly waive the death penalty to spare the Brits’ prissy Euro-consciences) but may very well die soon enough of natural causes. An essential role in Assange’s betrayal by Moreno was played by Trump’s Veep Mike Pence and Secretary of State Mike Pompeo. Former President Rafael Correa says a direct condition of Moreno’s getting a $4.2 billion IMF loan was Assange’s head on a platter. That’s a lot more plausible than establishment media reports that Assange was ejected for transgressing the Ecuadorians’ fastidious hygiene standards, which (whether based in fact or not) are just cynical defamations to justify his upcoming lynching.

It’s irrelevant whether Trump – who theoretically is the boss of all US agency operatives working with their Brit colleagues to get their mitts on Assange – let the nab go forward because he was unwilling to order his minions to stand down or was powerless to do so. In that regard, it’s similar to pointlessly asking why he has the terrible, horrible, no good, very bad national security team he does. Is it because of “Javanka”? Is it because he’s beholden to a gaggle of oligarchs? (Supposedly his being a self-financed billionaire made him immune from such influences.) Is it a reflection of a personality disorder?

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“Charles Schumer said he hoped Assange “will soon be held to account for his meddling in our elections on behalf of Putin and the Russian government”. Let the lies continue. Why not.

Democrats And Liberals Cheering Assange’s Arrest Are Foolish (Robinson)

There has been plenty of over-the-top gloating about Assange’s arrest. In the Atlantic, Michael Weiss said Assange “got what he deserved”. Some Democratic politicians have been salivating at the possibility of prosecuting him. Hillary Clinton said that Assange needs to “answer for what he has done”. Charles Schumer said he hoped Assange “will soon be held to account for his meddling in our elections on behalf of Putin and the Russian government”. Dianne Feinstein has been calling for Assange to be brought here and prosecuted since 2010. West Virginia Democratic senator Joe Manchin went even further, with the truly disturbing comment that “now [Assange is] our property and we can get the facts and truth from him”.


Nor did Bernie Sanders speak up to defend Assange, opting for the same shameful silence he has taken on the imprisonment of whistleblower Chelsea Manning. The other 2020 candidates, with the exception of Mike Gravel and Tulsi Gabbard, have also stayed quiet. There’s a lot to be disturbed by here. First, it’s not clear that people like Schumer even care about the question of whether Assange broke any laws. Assange has been charged over allegedly helping Chelsea Manning to crack a Department of Defense password in 2010. The indictment has nothing to do with Putin or the 2016 election. Yet Democrats are thrilled enough to have a longtime villain in the clasps of the United States government that the actual charges, and their implications for free speech, are irrelevant.

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“Moreno has long been rumored to be preparing an early exit and his right-wing allies appear poised to take over the helm..”

Assange Is A Scapegoat, Distraction For Scandal-Ridden Ecuador Government (ZH)

Despite having been elected on a platform of continuing the leftist and nationalist policies of Rafael Correa’s Citizen’s Revolution, Moreno has actively attacked Correa’s legacy as well as the governments that ascribed to ‘21st century socialism.’ In recent months, Moreno’s government has restored a controversial fly-over program in the country with the US military, and also participated in the creation of the right-wing-led Prosur bloc as a measure to dismantle the Union of South American Nations created by Correa and allies such as the late Hugo Chavez. The Ecuadorian leader inked a $4.2 billion loan with the IMF, after spending months claiming Correa had driven the country into historic debt.

In light of these and other measures, Moreno’s move against Assange isn’t surprising, but the timing of it is about more than just appeasing his allies. “They want to use Julian Assange as a scapegoat to distract from the INA Papers scandal,” says Narvaez, referring to the allegations of corruption that have sullied Moreno, his family and other close associates. The Ecuadorian president is facing a political investigation over accusations of money laundering through offshore accounts and shell companies in Panama, including the INA Investment Corp, of which Moreno’s brother was the registered owner.

Documents obtained by an opposition lawmaker, as well as damning images and documents circulating on social media that were apparently hacked from Moreno’s telephone, have irreparably tarnished his image and his credibility as anti-corruption campaigner. Approval ratings for Moreno have since plummeted, and only 17 percent of Ecuadorians say they believe their president. Predictably, his party was punished at the polls in the country’s recent municipal elections, losing two-thirds of the territories they won previously. Risks of his impeachment are also growing.

[..] Impeachment or not, Moreno has long been rumored to be preparing an early exit and his right-wing allies appear poised to take over the helm in the Carondelet Palace. Nevertheless, his crusade against Correa’s Citizen’s Revolution has meant a dismantling of institutions and regulations, coupled with austerity measures that have included massive public layoffs. The country finds itself spiraling towards the political instability and disarray that characterized the Andean nation during the 1990s and early 2000s, and therefore laws and process may be insufficient to stop the extradition of Assange’s after his forced exit from Ecuador’s embassy. Assange is trapped in this Kafkaesque scenario, moved from one cage to another, waiting for his adversaries to determine his fate.

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Let’s see what you can do.

Hackers Warn UK Gov: ‘Free Assange or Chaos is Coming for You’ (Cassandra)

The Anonymous hackers who spent the weekend knocking Ecuadorian government websites offline have turned their attention to the United Kingdom, issuing a warning for the British government to “free Assange or chaos is coming for you. Speaking to the Gateway Pundit, a member of the hacker group who goes by the pseudonym ‘Nama’ declared they will be launching cyber attacks against the United States and Sweden after the UK. None of this was directed by WikiLeaks or Assange himself — the hackers say they are acting on their own as an act of protest. Over the weekend, the group took down or defaced over 30 Ecuadorian websites including the Central Bank of Ecuador, their Ministry of Interior, the Ecuadorian Assembly in the UK and the main website for the Government of Ecuador.


They also posted data dumps of 728 identification ID card numbers that appear to belong to people who work in the Ecuadorian government. After the websites had been offline for twelve hours, the hackers warned that if they were restored “we will fire again to burn their servers.” The official website of La Maná canton in Ecuador featured a picture of Assange for over twelve hours, along with a quote from him that read, “You have to start with the truth. The truth is the only way we can get anywhere. Because any decision-making based on lies or ignorance can not lead to a good conclusion.”

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Can’t really see other airlines not following. For American alone, it’s over 100 cancelled flights a day.

American Airlines Extends Boeing 737 MAX Grounding Until Mid-August (RT)

American Airlines has chosen to keep its fleet of Boeing 737 MAX grounded until at least August 19, even if it means canceling 115 flights a day in summer season, as probes into the troubled jet continue and new sales have frozen. The company, which owns 24 of the embattled jets that were involved in two recent deadly crashes, announced the decision in a letter to employees and customers. AA wants to ensure reliability “for the peak travel season and provide confidence to our customers and team members when it comes to their travel plans,” Chief Executive Doug Parker and President Robert Isom wrote.


Parker and Isom have at the same time expressed confidence in Boeing’s ability to fix the problem through software updates and changes to pilot training procedures. The US airline has 24 MAX planes in its fleet and is expected to get 16 more delivered this year. The grounding has already resulted in the cancelation of about 90 flights per day through early June, and the extension may put a strain on American’s ability to meet demand for seats during upcoming peak travel season. As many as 115 daily flights will have to be canceled in August, according to the letter.

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They’re now just trolling Trump, aren’t they?

Huawei Is ‘Open’ To Selling 5G Chips To Apple For iPhones (CNBC)

Huawei is “open” to selling high-speed 5G chips and other silicon to rival smartphone maker Apple, marking a significant shift in the Chinese tech giant’s thinking toward its own intellectual property. The world’s largest networking equipment maker has been in the consumer market for a relatively short amount of time with its own-brand smartphones, but it has quickly risen to become the third-largest vendor by market share. Huawei started by selling phones at low prices but in recent years has shifted focus to increase its market share in the high end of the market, battling Apple and Samsung. As part of that move, Huawei has developed its own chips, including a modem to give smartphones 5G connectivity, and a processor to power its devices.


5G is next-generation mobile internet, which delivers data at very high speeds. So far, those pieces of technology have been used only in Huawei’s devices. That could change. In an interview with CNBC that aired Monday, Huawei founder and CEO Ren Zhengfei said the company would consider selling its 5G chips to Apple. “We are open to Apple in this regard,” Ren said. The CEO spoke in Mandarin, which was translated into English by an official translator.

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“We’re split in two mate, we’re absolutely shattered.”

The Truth About Brexit In 135 Words (Eric Peters)

“They’re all liars mate,” said my London cabbie. “May was a Remainer. How were we going to get a good deal when our negotiators don’t want to leave?” he asked. I shrugged. “They’ll stall until they can say it’s not what people want no more – happened in every country that ever wanted a referendum or held one,” he said. “The EU paid to move a Land Rover factory from the Midlands to Slovakia where they earn 5 pound for every 25 we make – so our boys are out of work and the company makes more profit. How’s that right?,” he said. “For every two pound we put into the EU, we get one back.” So I asked if Brtiain held another referendum, which way it’d go? “We’re split in two mate, we’re absolutely shattered.”

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This is from January, I wouldn’t normally include it in the news overview, but someone sent it to me on Twitter.

I’ve known this principle forever, just not under a hefty name like Iron Triangle. For us it was: If someone tells you they want a job done Good, Fast and Cheap, you say: Pick Two.

I’m also not so sure it applies to Brexit, I think there are other issues with it. But here it is.

Brexit Cannot Break The Iron Triangle (HCG)

In all the chaos surrounding Brexit, I keep coming back to the same, simple fact: this is essentially a basic failure of project management. Experts are out of favour right now, but what I’m about to tell you is not expert knowledge: it’s something you instinctively do every day, but perhaps don’t have a name for. But in Project Management, something I did for 22 years, there is a name for the decisions we all make: The Iron Triangle.


I’ve managed projects to deliver everything from air-traffic control software to stock management and distribution for the world’s largest toy manufacturer. I’ve worked on software for Intel, Microsoft, international charities, hospitals, pension services, banking and warehousing. At the start of any project, I would draw this diagram. It’s called The Iron Triangle because it has three points, and describes an absolutely unbreakable rule: you can only have 2 things from the Iron Triangle. Never all three. All three is impossible.

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