Rufino Tamayo Perro aullando (Howling Dog) 1960
Same person? Are we sure?
— Juanita Broaddrick (@atensnut) June 3, 2023
CHEMOTHERAPY IS NOT WHAT YOU THINK IT IS! pic.twitter.com/LCrsJqODmb
— DR. Kek (@Thekeksociety) June 4, 2023
"Data now shows that about 350,000 Ukrainians have been killed on the front lines.
We are also being lied to about what the purpose of the Ukraine war is.
“The White House has been provoking the war for 10 years and continued to avoid all talk of peace."https://t.co/hK4lD0xSaL
— Kim Dotcom (@KimDotcom) June 4, 2023
Website hosting Hunter Biden photo archive shut down for distributing child porn.
The start of the counteroffensive? The presence of Gerasimov in the frontline indicates Russia was not surprised.
The Ukrainian armed forces failed to achieve success in a large-scale offensive on five front sectors in the south Donetsk area, official spokesman of the Russian Defense Ministry Lieutenant General Igor Konashenkov said. “The adversary launched a large-scale offensive from the morning of June 4 on five sectors of the front in the south Donetsk area by bringing into action 23rd and 31st mechanized brigades from strategic reserves of the Ukrainian armed forces with support from other military units and teams,” the spokesman said. “The adversary’s objective was to break through our defense on the most vulnerable front sector, in its opinion. The enemy failed to perform its tasks and had no success,” Konashenkov noted.
The adversary used six mechanized battalions and two tank battalions, the defense ministry’s spokesman informed. “As a result of skilled and sophisticated action of the Battlegroup East, the Ukrainian armed forces lost more than 250 persons, sixteen tanks, three mechanized infantry combat vehicles and 21 combat armored vehicles,” Konashenkov stressed. He particularly noted that Chief of General Staff Army General Valery Gerasimov was at one of frontline command posts in this area.
Ukraine had over a 1000 of bomb shelters closed, that after a 14 months of war and huge sums from the west.
— Lord Bebo (@MyLordBebo) June 4, 2023
They will never be ready.
Ukraine needs more weapons and ammunition to be able to carry out a successful counteroffensive against the Russian forces, the deputy head of President Vladimir Zelensky’s office has said. In an interview with British newspaper The Times on Saturday, Igor Zhovkva was asked why the much-anticipated operation by Ukraine, aimed at retaking land lost to Russia, still hasn’t been launched. “If you want to start a successful counteroffensive you need everything at your disposal, including artillery, armored vehicles and tanks, so probably we don’t have enough,” he replied. “More weapons is the No 1 topic in each and every conversation” that Zelensky had during his numerous foreign trips over the past month, Zhovkva, who is also the Ukrainian president’s top foreign affairs adviser, stressed. “Every country knows what kind of weapons we need from them, to protect our territory, stop the rockets,” the official added.
He also suggested that Russia has intensified its missile and drone campaign across Ukraine in recent months in a bid to deter the offensive by Kiev’s troops, which was expected to begin in spring. The UK “now is one of the leading countries in showing real incentive and courage in how to really bring victory to my country,” he stated, adding that other nations need to do more to assist Kiev. “Sorry, but the European countries are still too slow and not doing enough with sanctions” against Russia, Zhovkva insisted. Zelensky told the Wall Street Journal on Saturday that the Ukrainian military was “ready” for the counteroffensive, but did not say when exactly it will start. He also pointed out that Kiev would have wanted to see more weapons provided by the West, but that “we can’t wait for months” to launch the assault. Among other things, Ukraine needs 50 US-made Patriot air defense batteries to sufficiently protect its cities and troops on the battlefield ahead of the counteroffensive, Zelensky said.
With the price of a single Patriot battery estimated at $1.1 billion, the overall cost of the demand would be around $55 billion, which is more than the total amount of American military aid allocated to Kiev since the start of the conflict. The Ukrainian leader acknowledged that Russia’s air superiority would leave Kiev’s troops exposed and “a large number of soldiers will die” during the counteroffensive. Moscow has repeatedly warned that deliveries of weapons, including sophisticated ones, to Ukraine by the US and its allies could cross “red lines,” leading to a major escalation in the hostilities. Russia argues that the provision of arms, intelligence sharing, and training to Kiev’s troops already means that Western nations are de facto parties to the conflict.
That’s what the US would like everyone to think: We had no idea!
In the very early days of the war in Ukraine, Ukrainian President Volodymyr Zelensky was open to negotiating a peace. A proposed peace could have ended the war before tens of thousands of Ukrainians died and Ukraine’s infrastructure was devastated, on terms that satisfied Kiev’s goals. But the United States pressured Ukraine to go on fighting in pursuit, not of Ukraine’s goals, but of larger American ones. Putting an end to Ukraine’s negotiations with Russia, State Department spokesperson Ned Price remarkably said, “This is a war that is in many ways bigger than Russia, it’s bigger than Ukraine,” and insisted that Ukrainians go on fighting and dying for “core principles.” The United States got its way. Now a year later, with the war not going well for Ukraine and the country getting more and more desperate, Ukraine is forced to retreat to pursuing its own goals.
Ironically, that is increasingly taking the form of escalating the war in a way that now endangers American goals. Ukraine is now pursing its own security interests in a way that is extraordinarily dangerous to U.S. security interests. And they seem to be disregarding U.S. restrictions in pursuing them. Months of American permissiveness and failure to say no to Ukraine at each crossing of a red line has seemingly emboldened Ukraine to ignore U.S. limits and conditions on the use of American-supplied weapons. One of the key goals of the Biden administration is to stand by Ukraine for as long as it takes to defend their sovereignty and territorial integrity. That is Joe Biden’s promise to Ukraine. But a second key goal is to avoid being drawn into a direct war between NATO and Russia.
That is Joe Biden’s promise to Americans. A recent wave of Ukrainian attacks on the territory of Russia—not Donbas or Crimea, but the internationally recognized territory of Russia—threatens that promise and threatens the security of Americans. Ukraine has long promised “not to target Russian territory with weapons provided by the West.” They recently reiterated that promise, saying British supplied long range Storm Shadow cruise missiles “will be used only within Ukrainian sovereign territory and not inside Russia,” and when they provided the United States “flat assurances” that F-16 fighter-bombers won’t be used inside Russian territory.
But Ukraine did not keep those promises. In pursuit of their goals—understandably, since the U.S. insisted they postpone those goals and go on fighting the Russian military in pursuit of American goals—they have crossed the red line of U.S. limits and conditions on the use of American-supplied weapons and struck inside Russian territory. This defiantly independent military strategy is increasing the danger that the United States and NATO could get drawn into a war with Russia.
There are videos that show ‘Russian Volunteer Corps (RDK)’ members speaking Polish.
Brussels is concerned over media reports claiming that weapons it sent to Kiev were used by militants to launch incursions into Russia, several Belgian media outlets reported on Sunday, adding that the government will demand an official explanation from Ukraine on the issue. Belgian Defense Minister Ludivine Dedonder and Foreign Minister Hadja Lahbib will “contact the Ukrainian authorities and ask for clarifications,” the defense minister’s office confirmed to Belgium’s RTBF broadcaster. The documents accompanying each weapons delivery from Belgium “explicitly state” that the military equipment can only be distributed to the regular armed forces and used only to “defend” Ukrainian territory, the media added. “These weapons are therefore not authorized for isolated groups that have an internal Russian agenda,” a Belgian official told another local media outlet, Le Soir.
The Belgian media also described the ‘Freedom of Russia Legion’ and the ‘Russian Volunteer Corps (RDK)’ – two Kiev-backed militant groups that are said to be in possession of Western arms – as groups that have “neo-Nazi” members within their ranks. The RDK and the ‘Freedom of Russia Legion’ were responsible for several incursions into Russian territory in March and May 2023. Photos and videos published by the militants from their raid last month, as well as images released by the Russian Defense Ministry in the wake of the clashes with the militants, suggested that their sabotage groups made use of US and Polish armored vehicles, as well as Belgian and Czech assault rifles. The Pentagon and the US State Department expressed doubts regarding the authenticity of the images.
On Saturday, the Washington Post reported, citing sources linked to US intelligence, that the militants did use weapons and heavy equipment supplied to Kiev by their Western backers. The May raid ended up with the Russian forces killing “over 70 Ukrainian terrorists” and destroying “four armored combat vehicles, and five pickup trucks,” the Russian Defense Ministry said at that time. The incursion resulted in one civilian death and 12 injuries, according to Russian authorities. On Sunday, the two militant groups sought to launch another cross-border raid into Russia’s Belgorod Region, its governor said. The militants were “dispersed” and pushed back into Ukrainian territory, the defense ministry said later the same day.
He was Obama’s physician too. Bet he was listened to back then.
The White House is guilty of “malpractice” for allowing President Joe Biden to seek re-election while in such a state of physical and mental decline, former White House physician and Republican Congressman Ronny Jackson has told Fox News. Biden tripped and fell while leaving the stage after a commencement ceremony at the US Air Force Academy in Colorado on Thursday. Although the White House said Biden was “fine,” and had been surprised by a sandbag on stage, video footage showed the president apparently needing directions to find his way to the podium in the first place. “I don’t wanna sound like a broken record, but I’m just going to say it again: This man’s not fit mentally or physically to be our president, and it’s a bad situation for us,” Jackson told Fox News’ Sean Hannity on Friday.
“I think his lack of physical ability and his physical decline is now starting to highlight the cognitive decline that we’ve been watching for so long now,” Jackson continued. “It’s a package that just doesn’t sell around the world, and it’s becoming a national security issue for us.”Jackson, who served as White House physician to Donald Trump and Barack Obama, has repeatedly warned about Biden’s mental health, declaring earlier this year that the 80-year-old president “doesn’t know where he’s at half the time and every day he brings us closer to an all-out war with Russia and China.” According to a recent NPR poll, 62% of Americans believe that Biden’s mental fitness is “a real concern about his ability to be president,” with 36% of Democrats and 69% of independents agreeing with this statement.
A Washington Post poll taken at the beginning of May also found that 62% of voters believe Biden to be in too poor a physical condition to serve effectively. Biden is already the oldest commander-in-chief ever to lead the US, and if elected in 2024 will be 86 years old leaving office. It “is just malpractice on part of the White House in the West Wing to allow this to be happening, for him to even be talking about running for another term,” Jackson told Hannity. “Somebody needs to be held accountable. People like Jill Biden and people that surround him and are supposed to love him and care about him, they should be doing something about this, and they should be stopping this because it’s a shame.”
Breton: “I am the enforcer. I represent the law, which is the will of the state and the people..”
European Union officials are having a meltdown, all because Twitter CEO Elon Musk has withdrawn the platform from a “voluntary” EU code of conduct for tech firms to combat so-called “disinformation.” And they have yet to cite a single actual example of it. EU Internal Markets Commissioner Thierry Breton tweeted, “You can run, but you can’t hide,” citing a legal obligation to prevent disinformation from August. He’s basically treating Musk, a guy who builds rockets and cars in America, like an unruly schoolchild, with Brussels in the role of the principal. French Digital Minister Jean-Noel Barrot even threatened to ban Twitter from the EU in a recent interview, citing the “grave” threat of disinformation. They’re basically accusing Musk of pre-crime, like in the movie ‘Minority Report’ where Tom Cruise’s character is chased down by the state before having committed an offense.
The EU is seeking to bring the very long arm of its authoritarianism down on Musk and other private tech players – however far outside the EU they might actually be – who refuse to abide by Brussels’ “Code of Practice on Disinformation,” concocted in 2018 and revised last year. Breton is even heading to Silicon Valley to check in on them. “I am the enforcer. I represent the law, which is the will of the state and the people,” he said about his trip. Sounds like Mr. Enforcer could use a good humbling from the people he purports to represent, and what better way for it to be delivered than through Musk, who envisions Twitter as the voice of the people and a platform for truly free expression. By withdrawing from the code, Musk is just the latest example of what seems to be a trend.
Facebook’s parent company Meta has already laid off moderators. Amazon, Microsoft, Alphabet, and others have also cut into their watchdog departments, citing cost-cutting measures. Perhaps policing narratives is bad for business. You have to wonder, though – if joining this EU pact is optional, then what exactly is the big deal? It’s not like there’s any guarantee that any of the signatories are actually reducing what the EU considers as disinformation. In fact, the whole concept of top-down policing of information flow raises suspicion about the potential marginalization of views and debates that oppose the establishment narrative. According to this EU code, tech platforms like Twitter are connected with “fact-checkers, civil society, and third-party organizations with specific expertise on disinformation.” The policy document adds that platforms also must report to an EU “Code Taskforce,” monitoring their efforts. Given that any such actors would implicitly have the EU’s stamp of approval, it’s not a stretch to imagine that they could effectively end up acting as enforcers or gatekeepers of the establishment narrative.
Musk himself is no stranger to this kind of systemic collusion between state actors and platforms to the detriment of contradictory debate and free information flow. It was his own release of the Twitter Files in the wake of his acquisition of the platform that brought to light the collusion between Twitter and Western government authorities to manipulate and censor public debate over Covid-19, for example, or to coordinate on certain narratives about geopolitical competitors (like Russia) – all under the guise of fighting “disinformation.” Speaking of which, it didn’t take long after Musk’s withdrawal from the disinfo code for the EU’s vice president for values and transparency – an Orwellian title, if there ever was one – to suggest that the ultimate beneficiary of Musk’s actions in withdrawing from the code wasn’t free speech and debate, but rather Russia.
“Bye, bye birdie,” Vera Jourova said. “Twitter has chosen a hard way to comply with our digital laws. Russia’s disinformation is dangerous and it is irresponsible to leave EU’s anti-disinformation code.” Right, because all facts and analysis that don’t align with the Western agenda has to be Russian, as these folks see it. The reasoning is just a step away from proclaiming Musk to be some kind of useful idiot for Russia, despite him also being a major Pentagon contractor.
Lawyer “sundance” has a elaborate theory. Can’t say I’m overly covinced.
The issue of Twitter’s financial status speaks to the motives of Musk that later surface – like his relationship with Fox News billionaire Rupert Murdoch. Once you see the connections, suddenly everything makes sense. Musk and Murdoch have intersecting interests. Elon Musk is in desperate need of revenue for his social media platform Twitter. By his own admissions, Twitter is currently in the red on an annual basis between $1.5 to $4.0 billion; that may go as high as $5 billion, depending on what happens over the next six months. Currently losing $100 million/mo, Musk is limited on how much he can pull from his other companies to support Twitter, and with $1.5 billion in debt service alone on the $12.5 billion borrowed for the Twitter purchase, Musk needs an income stream quickly.
Advertising revenue has dropped 50%. This is the motive for Musk to hire Linda Jaccarino, the former head of NBC Universal advertising, to bring urgently needed revenue to a platform currently considered too extreme for the DEI-minded corporate advertising executives. Musk is also captive to contracts with Bezos’ Amazon (AWS) and Google cloud services for platform data processing support. Those very expensive contracts – $1 billion and $2 billion respectively – do not expire until 2025. In short, Musk needs revenue. For Twitter, this reality drives his decision-making. Enter, Rupert Murdoch. Billionaire media mogul Rupert Murdoch owns Fox News, The Wall Street Journal, The New York Post and Harper Collins book publishing. Murdoch wants to control the outcome of the 2024 election and strongly supports Ron DeSantis on behalf of his Wall Street allies.
Murdoch financed DeSantis through the Harper Collins book deal, and Murdoch has turned his media outlets into advanced PR for the DeSantis campaign. The Murdoch media approach includes lengthy and friendly broadcast Fox News appearances, interviews and pundit advocacy, while the print side spins favorable stories. The Wall Street Journal and New York Post are doing the same. It is a full-court press to support DeSantis on behalf of the interests of Murdoch et al. Keep in mind, the RNC has given Fox News control over the kickoff GOP debate. Elon Musk needs money; this is not in question. Rupert Murdoch, supporting Ron DeSantis, wants control of the 2024 election outcome; also, this is not in question. These two facets form the baseline of a common interest.
Elon Musk launches the DeSantis campaign via Twitter Spaces – not accidental. Musk then uses his platform control mechanisms to amplify DeSantis and counteract the strong and visible platform support for Donald Trump. What outlet pushes the narrative that flows from the operation? Rupert Murdoch. NEW YORK POST – “Donald Trump’s 2024 election campaign’s claims are already being hit with Twitter’s new “community notes,” which fact-check or offer context to dubious posts. In May alone, Team Trump and their surrogates were slapped with community notes on at least seven occasions — and were often cited for posting flat-out lies.” Christina Pushaw is a registered foreign agent working for the DeSantis campaign. Ms. Pushaw went from working in Ukraine, for Volodymyr Zelenskyy, directly to working in Florida as Ron DeSantis’ press secretary.
Pushaw was the person who gathered the “influence operation” over the past two years on behalf of the DeSantis 2024 operation. That operation was visible in 2022, denied in 2022, then finally admitted two weeks ago. Now working for the DeSantis campaign, Christina Pushaw – a fellow traveler from the George Soros network and schooling – has organized the same type of influence campaign used in Ukraine to support Zelenskyy, only this time she is exploiting social media and specifically Twitter. This is why she spent so much time recruiting ‘influencers’ in 2021 and 2022, and even tried to deny she was doing it.
Cause: vaxx mandates and vaxx injuries.
American Airlines, a leading carrier based in Fort Worth, is currently grappling with a significant challenge. The airline is unable to operate approximately 150 of its regional aircraft due to a persistent shortage of pilots, as revealed by CEO Robert Isom. Speaking at the Bernstein 39th Annual Strategic Decisions Conference, Isom stated, “We would deploy properly to markets that aren’t being served. We would do that today. It’s just we don’t have the pilots.” This issue arises at a time when the airline industry is witnessing a record demand for travel, particularly during the summer season. However, the capacity to meet this demand is constrained by the lack of pilots, leading to grounded planes and missed opportunities to capitalize on high ticket prices. Isom noted that the situation is more severe than the previous year when the pilot shortage began to significantly affect regional airlines as demand rebounded following the downturn caused by the COVID-19 pandemic.
Looking ahead, Isom shared that American Airlines expects to acquire more pilots for its regional network over the next 18 to 24 months. Once these pilots are onboard, the grounded aircraft will be reintroduced into service in a manner that is expected to generate favorable unit revenues. He stated, “American anticipates getting more pilots over the next 18 to 24 months for the regional network, and those aircraft would be put back into service in a fashion that is going to produce unit revenues that are very favorable.” However, the challenge of pilot shortage is not unique to American Airlines. The airline industry as a whole is projected to face a deficit of nearly 80,000 pilots by 2032, as per a report by Oliver Wyman.
[..] The Biden administration put pressure on airlines to require vaccines as part of a broader strategy to boost inoculation rates in the country in October 2021. “While we are still working through the details of the federal requirements, it is clear that team members who choose to remain unvaccinated will not be able to work at American Airlines,” Doug Parker, American Airlines chief executive, told employees in an Oct. 1, 2021 memo. According to a group of attorneys, doctors, and other experts—and a pilot who says his career ended due to adverse reactions from a vaccine—the Federal Aviation Administration has been breaking its own rule that states pilots should not fly after having taken medications that have been approved for less than a year, The Epoch Times reported in December 2021.
Bundeswehr fighter pilots usually enter retirement at 41, an age at which reflexes tend to grow duller and vision worse. Those who begin flying for the German Air Force at the age of 20 receive half of their final monthly salary as a pension once they reach 41. Most former pilots find it insufficient and look for secondary employment. The training of pilots in China began just over 10 years ago, with a former Bundeswehr pilot declaring a position at the Test Flying Academy of South Africa, which trains Chinese pilots. Sources in Berlin say the pilot did not transgress any formal restrictions with the move and point out that China at the time was not seen as an authoritarian rival. Germany was also providing official training to Chinese officers at the time. The naivete of this approach became clearer than ever last fall, when Australia arrested the American pilot Daniel Duggan.
He stands accused of having trained Chinese pilots, just like his German counterparts – allegations which Duggan denies. He is currently behind bars and may be extradited to the United States. British agencies also sounded the alarm last fall. According to a British Defense Ministry announcement, up to 30 former Royal Air Force officers are thought to have provided training to Chinese fighter pilots in the last several years. They received the princely salary of 280,000 euros each for their services. Because the pilots violated no applicable laws, London announced it would be introducing a legal reform. American investigators believe that the imprisoned pilot Duggan was recruited by the Chinese company Lode Tech, which was founded by businessman Su Bin, the son of an officer in the People’s Liberation Army. Su lived for many years in Canada, where he operated an aviation company with 80 employees.
As later became clear, he also spied on behalf of the Chinese state. Su developed a particularly keen interest in the construction blueprints for the C-17, a transport plane developed by Boeing for the U.S. military. In the summer of 2014, Su was arrested, subsequently confessing that he had spent six years secretly collecting information for China. He had been able to rely on an extensive network of contacts in the aviation industry, making it possible for him to identify particularly interesting engineers and other professionals for his handlers back in China. With the help of phishing emails, hackers employed by the state were then able to find their way into company computer networks. In total, they were able to steal 630,000 pieces of data related to the C-17.
How did Germany become so belligerent?
Germany will deploy two warships to the Indo-Pacific next year, Defense Minister Boris Pistorius said at an international summit on Sunday, amid ongoing regional tensions involving China and Taiwan, as well as the disputed South China Sea. In an address at the Shangri-La Dialogue security conference in Singapore on Sunday, Pistorius declared that the maritime passage, through which around 40% of Europe’s foreign trade travels, must be respected. “To this end, the German federal government sent a frigate to the Indo-Pacific in 2021, and will again, in 2024, deploy maritime assets,” Pistorius said at the conference, which was attended by many of the world’s most influential defense officials.
These assets, Pistorius said, would comprise a frigate and a supply ship – but he stressed that the maritime deployment is not being undertaken to counter actions of any specific actor in the region. “To the contrary,” he continued, “they are dedicated to the protection of the rules-based international order that we all signed up to and which we all should benefit from.” Berlin and Beijing maintain key trade links, but the deployment of the warships to the South China Sea in 2024 could potentially lead to headaches as Germany seeks to juggle its security and economic interests.
In 2021, a German warship was deployed to the region for the first time in almost two decades. Other Western countries have also increased their military presence in the area amid concerns about Beijing’s territorial objectives, particularly in relation to Taiwan. Beijing has asserted that the South China Sea is its exclusive maritime zone. However, about seven years ago, a tribunal under the terms of the 1982 United Nations Convention on the Law of the Sea firmly rejected Beijing’s territorial claim to the waters. Despite this, China has installed military outposts on at least three islands in the sea.
Last month, Beijing expressed its “significant displeasure” at a visit by German government minister Bettina Stark-Watzinger to Taiwan – which Beijing views as a breakaway province. China has frequently rebuked Western nations for engaging in diplomacy with leaders in Taipei, which it views as a part of its sovereign territory under the ‘One-China’ principle. On Saturday at the same conference in Singapore, Pistorius said he had “made it clear” to Beijing that he expected China to end its practice of enlisting former German military pilots to help train its own forces. This followed a report by German news magazine Spiegel on Friday, which said China had been receiving such training for years, and that security officials in Berlin were concerned that the military knowledge of German and NATO forces were being discussed.
The only newsworthy part of the long article is at the bottom: it was all scripted.
Loudermilk also revealed that he is reviewing the work of the Democrat-led House Jan. 6 investigative committee that wrapped up its work last year, and has found some shocking evidence that much of its public hearings were stage managed. “We found out in the in the documents that I acquired from the Jan. 6 committee is the written script of every member of the committee. Just like you would have on a teleprompter or if you memorize a script for a movie,” he said. “And so every single aspect of their hearings was scripted for a Hollywood type of emotional appeal to the American people.”
He said Republicans now running the House administration committee are taking a different approach to elicit facts, no emotion. “We just recently had a hearing with the chief of the Capitol Police. There was nothing scripted about it,” he said. “We did have certain questions that we wanted to ask, but each member had their questions. The chief wasn’t given a script in advance. … These hearings from the January 6 Select Committee were Hollywood productions.”
Voluntary? There’s some pressure being applied.
Commitments on voluntary reduction of oil production assumed by certain OPEC+ countries will be honored, Russian Deputy Prime Minister Alexander Novak said on the air with the Rossiya-24 TV channel. “The agreement has performance above the target lately because there is a range of counties not taking up their quotas. As regards the decisions made on voluntary reduction since May, third party source data will be available in mid-June but we see from discussions, from the exchange of opinions between heads of delegations, that these agreements are performed, including Russia performing in full scope. That is why I am confident that the reduction announced additionally since May 1 will be implemented,” Novak said. Russia will extend its voluntary oil production cut by 500,000 barrels daily until the end of December 2024, the deputy prime minister said earlier.
The tightest Fed and ECB policy in 15 years is colliding with high leverage built upon stretched margins..”
A cycle of boom and bust will return this year and a wave of corporate debt defaults is imminent, particularly in the US and Europe, Deutsche Bank has warned. According to the bank’s annual study released on Wednesday, defaults by companies will become more commonplace compared with the last 20 years. Deutsche expects default rates to peak in the fourth quarter of 2024. The bank projected peak default rates to reach 9% for US high-yield debt, 11.3% for US loans, 4.4% for European high-yield bonds, and 7.3% for European loans. The estimated US loan peak default rate is a near all-time high, compared to a peak of 12% during the 2007-2008 global financial crisis and 7.7% during the dot-com bubble in the late 1990s, the study showed.
“Our cycle indicators signal a default wave is imminent,” Deutsche economists wrote. “The tightest Fed and ECB policy in 15 years is colliding with high leverage built upon stretched margins. And tactically, our US credit cycle gauge is producing its highest non-pandemic warning signal to investors, since before the GFC [Global Financial Crisis].” Strategists noted that the magnitude and length of the cycle could come as a surprise. “Although our forecasts just presume a return of the Boom Bust cycle, not a GFC-style shock,” they added.
Aggressive interest rate hikes by central banks, including the US Federal Reserve and the European Central Bank as they continue to fight runaway inflation, have raised global recession risks, Deutsche warned. The EU’s largest economy, Germany, has already entered recession. “We suspect the next recession will be the first since the US tech bubble to inflict more pain on credit markets than the real economy,” experts cautioned. “Corporate leverage is elevated. And global credit markets derive more of their revenue from manufacturing and the sale of physical goods than the real economy at large,” they concluded.
Who cares what the judge orders?
David Morales — the owner of the Spanish security company that spied on Julian Assange during his prolonged stay at the Ecuadorian Embassy in London — kept the work he did for the CIA on his laptop. It was all marked under the initials of the U.S. intelligence agency, according to a new examination of his MacBook, to which EL PAÍS has had access to. The word “CIA” appears several times on a Western Digital-branded external hard drive, on which Morales kept the projects and operations that his company — UC Global, S.L. — was contracted to deliver. Morales’ personal files, which were previously unknown to investigators, builds on the allegations and evidence that Morales — a former Spanish soldier — spied on the meetings that the WikiLeaks founder and his lawyers held at the Embassy of Ecuador to the United Kingdom, and sent that information to the U.S. intelligence agency.
These files were stored on a number of folders marked with the terms “CIA,” “Embassy” and “Videos,” along with other labels. The appearance of this new evidence has been a surprise in the case against Morales in Spain’s High Court, the Audiencia Nacional. None of these computer records previously appeared in the initial copy made by the police, when officers categorized the material seized from the security contractor when he was arrested in September 2019. All of this material was uploaded to a cloud storage system within the judicial systems, so that all parties involved in the case could review it. The arrest and indictment of Morales took place weeks after an investigation by EL PAÍS revealed the videos and audios that UC Global employees had recorded while the Australian was preparing his defense with his lawyers.
The discovery of these new clues about the CIA’s spying on the cyberactivist — who remains imprisoned in a London jail — is no accident. Assange’s lawyers found problems when downloading the records uploaded to the cloud. They managed to get Judge Santiago Pedraz — who is overseeing the case — to authorize a second copy of the material seized by the agents. A new digital document dump offered a clear picture that the police had not pieced together. Now, a report by the experts called by Assange’s lawyers credits the appearance of “a very relevant volume of material, which was not included in the original [police] copy.” Forensic analysis describes the copy of the hard drive as containing “multiple pieces of evidence.” In this second dump, the mentioned folders have appeared, including the one that UC Global labelled as “CIA.”
Will 75-100 million Americans die by 2028?
A tiny "glitch" is on the horizon when it comes to Social Security, Medicaid and Medicare. So how is this "glitch" fixed? Well, according to the enemies of humanity, it comes down to reducing the population. pic.twitter.com/JrVMiORVra
— Dr. David Martin (@DrDMartinWorld) June 4, 2023
We have been going through a Long Singularity for a century and a half. To put that in context, as species, we spent 19,960 centuries making better types of stone hand axes. It isn’t surprising that it feels hard to keep up. https://www.oneusefulthing.org/p/becoming-strange-in-the-long-singularity
The skills of a Kingfisher.. pic.twitter.com/dwiFft100k
— Buitengebieden (@buitengebieden) June 5, 2023
What an emotional rollercoaster pic.twitter.com/apcw2PD81m
— greg (@greg16676935420) June 5, 2023
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