Nov 092020
 


Jean-Michel Basquiat Untitled 1982

 

COVID Risk Exaggerated, Talk Of A Second Wave Misleading – 500 Academics (DM)
Biden’s First Move As President-elect? Mask Mandate For All (Fox)
COVID Set Back Attitudes To Public Transport By Two Decades (G.)
The Bush/Cheney Administration Was Far Worse Than Trump (Greenwald)
Inside Trump’s Legal Warfare (Axios)
Kerry For Climate Chief, Buttigieg For Veterans, Yates For DOJ (ZH)
Donald Trump Jr: “Declassify Everything” (sundance)
Software That Gave Biden 1000s Of Michigan Votes Used In 28 Other States (JTN)
EHRC Report Into Labour Antisemitism Is The Real Political Interference (Cook)
NATO Says Biden Victory Will Help With ‘Assertive Russia’ (RT)

 

 

 

 

How old is the president?

 

 

“Listen to the science” becomes hollow and meaningless when scientists start contradicting each other. Because it shows there is no such thing as “the science”.

COVID Risk Exaggerated, Talk Of A Second Wave Misleading – 500 Academics (DM)

Official data is ‘exaggerating’ the risk of Covid-19 and talk of a second wave is ‘misleading’, nearly 500 academics told Boris Johnson in open letter attacking lockdown. The doctors and scientists said the Government’s response to the coronavirus pandemic has become ‘disproportionate’ and that mass testing has distorted the risk of the virus. They said tests are likely to be producing high numbers of ‘false positive’ results and the Government must do more to put infection and death rates within the context of normal seasonal rates. The letter criticised the Government’s handling of coronavirus for ‘causing more harm than good’. It comes after the UK yesterday confirmed a further 24,957 positive Covid tests, up just 13.9 per cent on last week’s total.

Top scientists suggested the UK’s second wave of coronavirus has already peaked. Professor Tim Spector, who leads the Covid Symptom Study app aiming to track the spread of Covid-19 in the UK, confirmed that there were ‘positive signs’ the country has ‘passed the peak of the second wave’. The open letter to the Prime Minister was signed by 469 medics and is titled First Do No Harm – the medical principle that a cure must never be worse than the disease itself. It is signed by immunologist Dr Charlotte R Bell, paediatrician Dr Rosamond Jones, consultant surgeon and Keith Willison, Professor of Chemical Biology at Imperial College.

The letter reads: ‘The management of the crisis has become disproportionate and is now causing more harm than good. ‘We urge policy-makers to remember that this pandemic, like all pandemics, will eventually pass but the social and psychological damage that it is causing risks becoming permanent. ‘After the initial justifiable response to Covid-19, the evidence base now shows a different picture.

Read more …

Mask mandates in the US are an invitation for unrest.

Biden’s First Move As President-elect? Mask Mandate For All (Fox)

One of Joe Biden’s first priorities as president-elect will be implementing mask mandates nationwide by working with governors. The future 46th president, however, says if they refuse than he will go to mayors and county executives and get local masking requirements in place. Fox News medical contributor Dr. Marc Siegel believes that while masks are “the icing on the physical distancing cake” and should be worn properly both indoors and outdoors, especially when people are too close together, a more punitive approach to mask wearing may have the opposite impact of what the administration intends.

“I think masks are quite useful, but they have a place and they’re not the be all and end all,” Siegel said. “I’m worried that mandating this with fines and such may actually lead to more of a rebellion against it.” He noted that the use of masks should be determined based on how much of the risk of exposure to the coronavirus is in a specific area rather than mandating it everywhere. As for social distancing, Biden’s plan says it will be used as more of a “dial” approach that will determine the risk of spread using evidence-based guidance from the Centers for Disease Control and Prevention, a move Siegel says is a mistake.

“I don’t think social distancing is dial. I think masks are a dial,” Siegel said. “Social distancing is something we should just be doing right now. You never know how much virus was in the community.” He believes physical distancing is actually more important to curbing the spread than masks are. “I think physical distancing is more important than masks,” Siegel argued. “If you’re 10 feet away from someone, you’re not going to get the virus. If you’re one foot away with a mask, you might.”

Read more …

But not nearly as much as the destruction of public transport did.

COVID Set Back Attitudes To Public Transport By Two Decades (G.)

The pandemic has put back attitudes to driving versus public transport by two decades, with almost two-thirds of UK car owners now considering their vehicle essential, research has found. A clear majority would now refuse to switch to a greener alternative even if better trains or buses were available, according to the RAC. The research for its annual Report on Motoring found reluctance to use public transport was now at its highest for 18 years. Compared with 2019, significantly more young drivers, and those living in the capital – around 65% of each – regard their vehicle as essential.

Although 50% reported actually using their car less overall this year, with 33% of the 3,000 respondents currently working from home, more than half, some 57%, perceived access to a car as more important now than before the coronavirus pandemic. While 54% said safety was a consideration, an increasing number now deemed a car necessary to shop or visit friends. Meanwhile, only 43% agreed they would use their cars less if there was better public transport, a sharp fall from 57% in 2019, and the lowest figure since 2002. The findings will further concern transport campaigners, with optimism dwindling that lower traffic volumes and increased cycling and walking could be maintained as a positive side-effect after the pandemic.

Cycling trips fell significantly below pre-pandemic levels in October, and people largely continued to avoid public transport. Passenger numbers were around 30% of normal demand on rail, and 60% on buses, while car use had risen to around 90% of pre-pandemic levels, according to the latest government figures up to last Monday. Other sources showed road traffic leapt in the following days before new lockdown restrictions, with data from satnav providers showing some of the worst congestion in two years on Wednesday.

Read more …

Something I’ve mentioned numerous times:

“Numerous media outlets that in 2015 were sputtering if not collapsing, and numerous television personalities about to be fired because nobody was watching them, were first rescued and then propelled into the stratosphere by The Trump Show.”

The Bush/Cheney Administration Was Far Worse Than Trump (Greenwald)

That the liberal belief in and fear of a Trump-led fascist dictatorship and violent coup is actually a fantasy — a longing, a desire, a craving — has long been obvious. The Democrats’ own actions proved that they never believed their own melodramatic and self-glorifying rhetoric about Trump as The New Hitler — from their leaders joining with the GOP to increase The Fascist Dictator’s domestic spying powers and military spending to their (correct) belief that the way to oust The Neo-Nazi Tyrant was through a peaceful and lawfully conducted democratic election in which vote totals and, if necessary, duly constituted courts would determine the next president. The motives for concocting this Wagnerian fantasy about coups, dictatorship, concentration camps and civil war are numerous.

Politics is boring, and your life unspectacular, if it’s dedicated to a goal as banal and uninspiring as empowering a septuagenarian career-politician — the centrist-authoritarian author of the 1994 Crime Bill, the credit card industry’s most loyal servant, and key Iraq War advocate — along with his tough-on-crime prosecutor-running-mate who always seems as if she just left a meeting of the Aetna Board of Directors where massive hikes in deductibles were approved. Glory is available only if one can convincingly herald oneself as a front-line warrior risking it all to courageously battle unprecedented evil and a Nazi-like menace. But working to do nothing more than elect Joe Biden, Kamala Harris and the rest of the painfully ordinary and mediocre corporatist and imperialist Democratic Party politicians through a standard American election?

There’s no glory residing in that, no courage needed for it, to put it mildly. Posturing as a courageous soldier in an existential battle for freedom, democracy and the survival of the marginalized against Nazi despotism is far more exciting and psychologically satisfying (and financially profitable) than being an obedient liberal drone marching in perfect tune to the dreary, McKinsey-scripted musical theater produced by Tom Perez and the DNC. That is therefore the delusional storyline adopted by many. Then there’s the multi-pronged profit that the Trump-as-Hitler motif has generated for virtually every institution of American authority. Numerous media outlets that in 2015 were sputtering if not collapsing, and numerous television personalities about to be fired because nobody was watching them, were first rescued and then propelled into the stratosphere by The Trump Show.

“It may not be good for America, but it’s damn good for CBS,” said the network’s then-CEO Les Moonves in 2016 about Trump TV. Of course media outlets don’t want to declare the 2020 election over: they will milk the abundant Trumpian cash cow until the very last drop has been monetized. The frightening spectre of a Dictatorial Menace also led liberal advocacy groups such as the ACLU to drown in previously unimaginable quantities of #Resistance cash, frenetically donated in the name of stopping Trump’s incomparable evil. Rotted and discredited institutions like the CIA, NSA and FBI re-branded themselves as patriotic guardians of liberal democracy and stalwart protectors of a besieged population.

Read more …

First cases to be launched today in an increasingly uphill battle. Legal costs will be phenomenal.

Inside Trump’s Legal Warfare (Axios)

President Trump plans to brandish obituaries of people who supposedly voted but are dead — plus hold campaign-style rallies — in an effort to prolong his fight against apparent insurmountable election results, four Trump advisers told me during a conference call this afternoon. Obits for those who cast ballots are part of the “specific pieces of evidence” aimed at bolstering the Trump team’s so-far unsupported claims of widespread voter fraud and corruption that they say led to Joe Biden’s victory. Fueling the effort is the expected completion of vote counting this week, allowing Republicans to file for more recounts Team Trump is ready to announce specific recount teams in key states, and it plans to hold a series of Trump rallies focused on the litigation.

In Georgia: Doug Collins, the outgoing congressman who lost to Sen. Kelly Loeffler in a special election to fill former Sen. Johnny Isakson’s seat, will be leading the campaign’s recount efforts. The team has also redeployed 92 staffers from Florida to Georgia, doubling its group on the ground In Arizona: Kory Langhofer, former counsel for Trump’s 2016 transition, will serve as lead attorney. In Pennsylvania: Porter Wright’s Ron Hicks is heading up the legal effort. Nationwide: They’re assembling additional surrogates and lawyers. “We want to make sure we have an adequate supply of manpower on the ground for man-to-man combat,” one adviser said. The group is also staffing a campaign-style media operation.

The team led by Trump communications director Tim Murtaugh is now a surrogate messaging center. It will pump out “regular press briefings, releases on legal action and obviously things like talking points and booking people strategically on television,” one adviser said. They’ll also make a big play to raise money for their legal defense fund. Trump’s formal legal team includes 2020 campaign manager Bill Stepien, lawyer Justin Clark, and senior advisers Jason Miller and David Bossie. Reps. Jim Jordan and Scott Perry, as well as former White House Chief of Staff Reince Priebus, are also advising.

Read more …

Meet the swamp creatures. For pete’s sake, John Kerry? Climate? Sally Yates? Wasn’t she supposed to be in jail?

Kerry For Climate Chief, Buttigieg For Veterans, Yates For DOJ (ZH)

While Trump is still far from conceding the election, whose outcome is called not by the media, but by the Electoral College on Dec 14… … Joe Biden is already busy forming his cabinet, where he need to draw a fine line between the hard-left progressive in the Democratic party (AOC has already been quite vocal in her criticism of how the Squad has been ignored) and centrist elements. Also, in addition to rolling out such new policies as fighting climate change and aggressively promoting women and minorities, Biden will focus on an economic team that will confront the surging unemployment and business slowdown touched off by the coronavirus pandemic. In total, as he builds out his economic team Biden will need to fill out the nearly two dozen cabinet-level positions in his administration.

Starting at the very top, Bloomberg reports that Biden will look for a Treasury secretary and other key officials “to negotiate with Congress on more stimulus, roll back some of President Donald Trump’s tax cuts and mend relations with U.S. trading partners.” Among the contenders that have emerged to fill the top economic-policy job are Fed Governor Lael Brainard for Treasury and economist Heather Boushey as director of the National Economic Council. Other crucial jobs include naming the secretaries of Defense, State and Homeland Security, together responsible for carrying out administration policy and overseeing a federal bureaucracy with more than 2 million civilian employees.

While Biden will be mindful of the possibility that a Republican-controlled Senate would almost certainly scuttle nominees for top posts who belong to the progressive wing of the Democratic Party, liberal groups will be policing Biden’s choices closely, fearful that he won’t reach into their ranks for top positions but will instead choose “moderate” Democrats in his own mold. Biden may try to tamp down that sentiment by putting a liberals in jobs that don’t require Senate confirmation. Most importantly, this means that “the swamp” which Trump vowed to fight – and lost – is back, because in forming his cabinet, Biden will rely on an inner circle of longtime veterans from the Obama administration as well as Wall Streeters. Finally, while Biden could make history by naming the first women to lead the Defense and Treasury departments, his key White House advisers are likely to be White men.

Read more …

Too late: “I don’t think post-election this will work, because the executive branch cabinet officers will refuse to support it. The enemies inside the gate will protect DC.”

Donald Trump Jr: “Declassify Everything” (sundance)

Amid all of the election ramifications and discussions, Donald Trump Jr. outlined a thought today that has likely been on the mind of many, myself included. I have spent a great deal of time thinking about this since the media began their insufferable onslaught and “president-elect Biden” narrative. The time has long past for President Trump to fully demand his executive cabinet members declassify the evidence outlining intrusive government surveillance upon not only himself, but all Americans. CTH has a rather unique perspective on the declassification angle. This conversation has traveled with me for over two years as I have talked to people inside the machinery.

Ultimately the discussion ends around something like this: Is the DC political surveillance state, and all of the ramifications within that reality, so fundamentally corrupt and against our nation’s interests, that no entity dare expose the scope and depth of it? And ultimately… is it the preservation of institutions that is causing so many disconnected outcomes from evidence intentionally downplayed? If we assume the scale of unconstitutional conduct has become systemic, that likely answers the questions. Personally, I believe this is the most likely scenario. “Likely” meaning the entire apparatus, DOJ, FBI, Legislative Oversight and the Intelligence Community (IC), is now so enmeshed within this corrupt out-of-control state that no-one, even the good guys, is willing to expose it because the institutional collapse would be devastating.


This is what I would call the Biggest of the Big Ugly. This catastrophic outcome, in combination with DC having made the system the primary source of their income, is what unites the Republicans and Democrats to stop anyone from exposing it. Once any elected official goes inside this system, they end up serving it. All of that said, I have previously outlined a pre-election process for President Trump to declassify information that would lay the system naked to We The People. However, I don’t think post-election this will work, because the executive branch cabinet officers will refuse to support it. The enemies inside the gate will protect DC.

Read more …

Nancy Pelosi’s Chief of Staff Is Chief Executive and Feinstein’s Husband a Major Shareholder at Dominion Ballot Counting Systems

Software That Gave Biden 1000s Of Michigan Votes Used In 28 Other States (JTN)

Election software that incorrectly awarded thousands of votes to Joe Biden in Michigan is used in a majority of U.S. states, including statewide in Georgia where it has reportedly been implicated in several voting-related “glitches” there. The Michigan Secretary of State confirmed on Friday that a software error in Antrim County, Michigan, in which Joe Biden was incorrectly awarded thousands of votes that led him to be declared the county winner, was caused by an error in which the county clerk “did not update the software used to collect voting machine data and report unofficial results.” The software is administered by the company Dominion Voting Systems. Following the correction of the error, the county flipped back to Trump, who walked away with 2,500 more votes than Biden.

Beyond Michigan, Dominion Voting System is also used in a majority of U.S. states, with the company boasting on its website of having “customers in 28 states,” including “9 of the top 20 counties” and “4 of the top 10 counties” throughout the county. The system was used for a presidential election in Georgia for the first time this year, after the state announced in July of 2019 that Dominion would be given a statewide contract to provide systems and software to the state’s 159 counties. Multiple election-related “glitches” have been reported in the state since Tuesday. In one instance, voting in two Georgia counties ground to a halt for several hours after an unknown update was applied to voting machines there.

In another county, a “software glitch” caused a delay in counting thousands of absentee ballots. Dominion reportedly received a $107 million contract last year to install 30,000 voting machines throughout the state. Georgia was moving away from its earlier election equipment provider, Election Systems & Software, after complaints following the 2018 midterm elections. Joe Biden currently leads in Georgia by about 7,000 votes.

Standard deviations

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The report says no antisemitism, so it’s used to suggest … antisemitism. Works exactly the way Russiagate does.

EHRC Report Into Labour Antisemitism Is The Real Political Interference (Cook)

I recently published in Middle East Eye a detailed analysis of last week’s report by the Equalities and Human Rights Commission into the question of whether the UK Labour party had an especial antisemitism problem. (You can read a slightly fuller version of that article on my website.) In the piece, I reached two main conclusions. First, the commission’s headline verdict – though you would never know it from reading the media’s coverage – was that no case was found that Labour suffered from “institutional antisemitism”. That, however, was precisely the claim that had been made by groups like the Jewish Labour Movement, the Campaign Against Antisemitism, the Board of Deputies and prominent rabbis such as Ephraim Mirvis.

Their claims were amplified by Jewish media outlets such as the Jewish Chronicle and individual journalists such as Jonathan Freedland of the Guardian. All are now shown to have been wrong, to have maligned the Labour party and to have irresponsibly inflamed the concerns of Britain’s wider Jewish community. Not that any of these organisations or individuals will have to apologise. The corporate media – from the Mail to the Guardian – are continuing to mislead and misdirect on this issue, as they have been doing for the best part of five years. Neither Jewish leadership groups such as the Board of Deputies nor the corporate media have an interest in highlighting the embarrassing fact that the commission’s findings exposed their campaign against Corbyn as misinformation.

What the report found instead were mainly breaches of party protocol and procedure: that complaints about antisemitism were not handled promptly and transparently. But even here the issue was not really about antisemitism, as the report indicates, even if obliquely. Delays in resolving complaints were chiefly the responsibility not of Corbyn and his staff but of a party bureaucracy that he inherited and was deeply and explicitly hostile to him. Senior officials stalled antisemitism complaints not because they were especially antisemitic but because they knew the delays would embarrass Corbyn and weaken him inside the party, as the leaked report of an Labour internal inquiry revealed in the spring.

Read more …

The swamp hasn’t had a new war in ages.

NATO Says Biden Victory Will Help With ‘Assertive Russia’ (RT)

After Joe Biden declared victory in the US presidential election on Saturday, there are fears that tensions between Russia and the West could escalate under his leadership. Congratulating the Democratic candidate on his projected win, which incumbent President Donald Trump continues to allege is the result of electoral fraud, the secretary general of NATO singled out Moscow as a priority for the incoming American leader. In a statement on the US-led military bloc’s website, Jens Stoltenberg wrote, “I warmly welcome the election of Joe Biden as the next president of the United States. I know Mr. Biden as a strong supporter of NATO and the transatlantic relationship.”

He continued: “We need this collective strength to deal with the many challenges we face, including a more assertive Russia, international terrorism, cyber and missile threats, and a shift in the global balance of power with the rise of China.” Russia’s Foreign Ministry has argued that NATO is increasingly succumbing to anti-Russian rhetoric. Spokesperson Maria Zakharova told reporters last month in a discussion about tensions with Sweden that the bloc was the source of “invented anti-Russian phobias” and “fanning tensions and the escalation of military activities in Northern Europe, one of the most stable regions in the world until recently.”

The past record of Biden, a stalwart of the US Senate’s Foreign Relations Committee, has concerned many Moscow lawmakers. The presumptive winner is unlikely to oversee an easing of tensions between the two countries, cautioned Leonid Slutsky, who heads the State Duma Committee on Foreign Affairs, which is the Russian equivalent to the body which Biden chaired, adding that he didn’t “expect essential changes for the better.” “Biden, together with President [Barack] Obama, launched the flywheel of new deterrents against Russia, with a series of sanctions at various levels,” Slutsky said.He also pointed to comments that Biden made in the past in which the Democratic candidate positioned Russia as America’s “main enemy” in his pre-election rhetoric.

Read more …

 

 

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Nothing much trickling down from the untold billions the banks have gotten.

 

 

“The secret to happiness, of course, is not getting what you want. It’s wanting what you get.”

– Alex Trebek, (1940 – 2020).

 

 

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Nov 062020
 


W. Eugene Smith Orson Welles 1942

 

Death by Lockdown (AIER)
China: Life After COVID Is Back To Normal (marc)
Vladimir Putin ‘Will Quit In January Amid Fears of Parkinson’s Disease’ (DM)
Which is the Real “Working Class Party” Now? (Taibbi)
President Trump Delivers Remarks About The Election From White House
Trump Gets ‘Big Legal Win In Pennsylvania,’ Setback In Michigan, Georgia (RT)
Dems Melt Down On Conference Call Over Losing House Seats (RT)
EHRC Antisemitism Report Added Fire To Labour’s Simmering Civil War (Cook)
Australian Property Bubble Hasn’t Yet Burst Amid The Pandemic (Abc.au)
Experts Want 15 Days Of Counting To Flatten The Curve Of Votes For Trump (BBee)

 

 

Election fatigue is setting in. Good thing I’m not a lawyer.

 

 

 

 

Bob Hope Democrats
https://twitter.com/i/status/1324577385153470464

 

 

“The most startling data concerns the age group 25-44. This is a group with a Covid-related infection fatality rate of 0.0092%, which is to say barely a disease at all for nearly everyone in this group. And yet they are dying at a rate far above what is expected..”

Death by Lockdown (AIER)

On March 28 – very early in the pandemic – AIER published an article that I felt at the time received far too little attention. “Drugs, Suicide, and Crime: Empirical Estimates of the Human Toll of the Shutdown” by economists Audrey and Thomas Duncan cited empirical literature on the human toll of economic devastation. This article forecasted more than 100,000 excess deaths due to drug overdoses, suicide, alcoholism, homicide, and untreated depression – all a result not of the virus but of policies of mandatory human separation, economic downturn, business and school closures, closed medical services, and general depression that comes with a loss of freedom and choice.

These two economists demonstrated that as bad as a virus is, policies that wreck normal social functioning will cause massive and completely unnecessary suffering and death. Because the article was so well-cited, with references to all the available literature, I thought it would make a difference. But after it appeared, it was crickets. I was amazed. Here you have a beautiful piece of research that perfectly forecasted the nightmare being created by politicians and their advisers and it made no dent in the national narrative. Here we are seven months later and the worst has come true. These two economists should be considered prophets. Sure enough, the Centers for Disease Control has documented a shocking number of excess deaths not from Covid.

Scott Atlas summarizes:
• Hispanic: 40% excess deaths NOT Covid related
• Black: 46% NOT Covid related
• White: 38% NOT Covid related
• 25-44: 77% excess deaths NOT Covid related
• 65+: 39% NOT Covid related

The most startling data concerns the age group 25-44. This is a group with a Covid-related infection fatality rate of 0.0092%, which is to say barely a disease at all for nearly everyone in this group. And yet they are dying at a rate far above what is expected, and mostly from issues not related to Covid. There should not be any excess deaths. Instead we find people dropping dead in ways that are shocking.

Read more …

“The science is clear, but politicians are clearly no scientists.”

China: Life After COVID Is Back To Normal (marc)

A few months ago I was lucky to get a visa to China so I could visit the country during the middle of the global pandemic. After 2 weeks in quarantine in Xiamen in late September and a total of 5 COVID tests I was finally allowed to fly to Beijing. When I landed there I had literally arrived in a different world, a world without COVID. Of course I knew that there is no COVID in China anymore, but seeing it for yourself is different. Everything is open again, even bars and clubs. Social distancing is a thing of the past, but when I arrived in Beijing most people still wore face masks, even outside. When I visited Xiamen again last week a lot less people wore them, but maybe that was also because of the much higher temperatures there. Everybody needs to have a health app installed on their phones, without it you can’t enter many public places (the app proves you have no COVID or have not been in contact with COVID-positive people) and you can’t fly without a green QR code on your app (not even if you just want to leave China).

Life is back to normal in China. Interesting is that people work from their offices again: The work-from-home phase did not last here, maybe because people only worked from home for a few weeks instead of a few months. I wonder if that will also happen in the Western world or if people will keep working remotely. Everything is open and there are hardly any restrictions left, although you still need to wear face masks in among others taxis and in school. What dit China do to get here? It’s actually quite simple, they had a complete lockdown of the whole country for a couple of weeks, and for some hotspots like Wuhan for a few months. After that they opened up again, but they did that with ubiquitous testing and obligatory face masks everywhere. Each time a new outbreak occurred they would lock (part of) a city down and test everybody. In that way China got the virus completely under control.

It may be hard to believe if you live in Europe or the US, but it is really not that hard to do. The partial lockdown in many other countries is simply not enough. It turns out that it is much better to have a shorter but very strict lockdown than to have a much longer partial lockdown that just tries to ‘flatten the curve’. I think Europe and the US are shooting themselves in the foot by trying to remain open for business. The long term effect in the Western world will simply be much worse than the short term effect in China.I am actually flabbergasted that the Western economies don’t see this and don’t copy the China playbook. I have argued for a short but full lockdown on Twitter since March, but most people did not take it serious. Of course it’s not the full story, China also had face masks from day one, while many other countries still don’t seem to ‘believe’ in them (although that finally started to change after the summer). The science is clear, but politicians are clearly no scientists.

And of course you need testing capacity, something that seems impossible to scale up in many Western countries. The virus started in January and soon after that it became clear to me that this could be a global danger. As I noted on Twitter, face masks were sold out in Vancouver on January 25 already, simply because most Chinese in Vancouver also saw the risk and started buying them. But governments took a full 6-7 weeks before they started to take it more serious. They lost so much precious time, instead of getting face masks ready and prepare test facilities they downplayed the risk. It was hard to believe for me, but I realized (once again…) that you should never rely on politicians for information but do your own research.

Read more …

No idea what to make of this, can’t trust western media to say one true thing about Putin, but I do like Scott Adams’ take.

Vladimir Putin ‘Will Quit In January Amid Fears of Parkinson’s Disease’ (DM)

Vladimir Putin will quit in January amid fears he has Parkinson’s disease, Moscow sources have claimed. The 68-year-old strongman president of Russia is being urged to retire by his former gymnast lover Alina Kabaeva, 37, insiders say. Recent footage of Putin’s legs moving around as he gripped onto the armrest of a chair have raised eyebrows. Eyes are also drawn to a twitching pen in the former KGB operative’s fingers and a cup which analysts told The Sun was filled with painkillers. Earlier this week it emerged that unexpected legislation was being rushed through to ensure that Putin could be made a senator-for-life. The new draft legislation was introduced by Putin himself, and would guarantee him legal immunity and state perks until he dies.


State-run RT media forecast the move will be seen ‘as a sign that the groundwork is being laid for an eventual transition of power in Russia’. It is not the first time that people have speculated that Putin may be suffering from Parkinson’s disease. Others have previously noted his ‘gunslinger’s gait’ – a clearly reduced right arm swing compared to his left, giving him a lilting swagger. An asymmetrically reduced arm swing is a classic feature of Parkinson’s and can manifest in ‘clinically intact subjects with a predisposition to later develop’ the disease, according to the British Medical Journal.

Read more …

“There were so many serious analyses wondering what could be done to convince Homer Simpson not to vote Trump that it soon became clear Bart’s donut-loving Dad was the closest thing to a Trump voter most educated people could relate to, or knew even.”

Which is the Real “Working Class Party” Now? (Taibbi)

In an irony he is humorously ill-equipped to appreciate, Donald Trump by losing this week may have gained something for the Republican Party bureaucracy he took such pleasure in humiliating four years ago: a future. Defying years of muddle-headed media analyses, Trump underperformed with white men, but made gains with every other demographic. Some 26 percent of his votes came from nonwhite Americans, the highest percentage for a Republican since 1960. The politician who became instantly famous — and infamous — by saying of Mexican immigrants, “They’re bringing drugs, they’re bringing crime, they’re rapists,” performed stunningly well with Latino voters.

Exit polls, which can be unreliable, pegged his national support at 32%-35% of the Latino vote. More tellingly were results in certain counties. Starr County, Texas, the county with the highest percentage of Hispanic or Latino voters – above 95% – voted for Hillary Clinton by a 60-point margin in 2016, but went for Biden by just five points in 2020. Even more amazing was Trump’s performance among Black voters. The man whose 2016 message to “the blacks” was very nearly a parody of long-ago New York mayoral candidate Mario Procaccino’s pledge that “My heart is as black as yours” must have found a new way to connect. Trump doubled his support with Black women, moving from 4% in 2016 to 8%, while upping his support among Black men from 13% to 18%. Remember, this was after four years of near-constant denunciations of Trump as not just a racist, but the leader of a literal white supremacist movement.

Trump’s numbers with the LGBTQ community were a stunner also, jumping from 14% to 28%. In September, a dating app for queer men called Hornet ran a survey that showed 45% support for Trump among gay men. Ever since Trump jumped into politics, media observers have rushed to denounce any Trump-related data that conflicts with conventional wisdom, and the Hornet survey was no different. Out magazine quoted a communications professor from Cal Poly Pomona as saying, “To tout a Hornet poll as evidence of LGBTQ support for Trump is clickbaity, sloppy journalism.” Even the Hornet editor scoffed at his own poll, before it all turned out to be true in the election.

Read more …

“If you count the legal votes, I easily win..”

President Trump Delivers Remarks About The Election From White House

As the nation continues waiting to find out who will win the 2020 presidential contest, President Trump on Thursday delivered remarks from the White House. “If you count the legal votes, I easily win,” Trump said. “If you count the illegal votes they can try to steal the election from us, if you count the votes that came in late,” he said. The president said that election polling was weaponized to harm his candidacy. “As everyone now recognizes media polling was election interference, in the truest sense of that word,” Trump said. “By powerful special interests, these really phony polls…were designed to keep our voters at home, create the illusion of momentum for Mr. Biden and diminish Republicans’ ability to raise funds. They were what’s called suppression polls, everyone knows that now.”


“So it will be hopefully cleared up, maybe soon, I hope soon,” he said. “But it’ll probably go through a process, a legal process and as you know I’ve claimed certain states and he’s claiming states…but ultimately I have a feeling judges are gonna have to rule. But there’s been a lotta shenanigans and we can’t stand for that in our country.”


Jo Jorgenson losing half her support in the space of 12 minutes

Read more …

Georgia count just flipped to Biden.

Trump Gets ‘Big Legal Win In Pennsylvania,’ Setback In Michigan, Georgia (RT)

As Donald Trump continues to accuse Democrats behind Joe Biden of trying to “steal” the presidential election, he celebrated a “big legal” win in his Pennsylvania lawsuit. “Big legal win in Pennsylvania!” the president tweeted on Thursday, following orders mandating certain mail-in ballots to be placed aside for the time being and allowing Republican poll watchers to observe more closely as votes are counted. It remains to be seen how this “big legal win” will benefit Trump, but it does ensure that it could be even longer before people know who has won the presidential race. Mail-in ballots in Pennsylvania, a key swing state that remains up for grabs, that lack identifying information from their voter will be placed aside and not counted until the court gives further guidance on what to do.

Once ballots are “segregated,” those with information that cannot be confirmed by November 9 will “not be counted until further notice” from the court. Pennsylvania Commonwealth Court has also ordered that Republican poll watchers will be able to observe ballots being counted in Philadelphia from a distance of six feet following complaints that they were being kept too far away from the actual counting. In Michigan, the president has faced a setback with a judge scoffing at Trump’s lawsuit to stop the count in the state due to allegations voter fraud. Michigan Court of Claims Judge Cynthia Stephens said on Thursday she will deny Trump’s request as the accusations of voter fraud are “hearsay” and contain no “firsthand knowledge.”

Michigan has been called in Joe Biden’s favor by multiple US outlets, but Trump has claimed victory in the state, blaming last minute “ballot dumps” on the former vice president’s surge on the night of the election. Earlier, a judge in Georgia also dismissed lawsuit by Trump campaign that requested to ensure that state laws were followed in regards to absentee ballots. Trump’s campaign has also said they will be demanding a recount in Wisconsin, which Biden reportedly won by around 20,000 votes. The incumbent president has also alleged in another lawsuit that thousands of people voted in Nevada who are not residents there.

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Will they oust Pelosi?

Dems Melt Down On Conference Call Over Losing House Seats (RT)

Rep. Abigail Spanberger (D-Virginia), who is leading her congressional race by a thread, has reportedly blamed the Democrat Party for losing elections “we shouldn’t have lost” due to embracing radical ideas like Defund the Police. During a conference call between Democrats discussing the results of various 2020 elections, Spanberger claimed she nearly lost her race (she’s won by a few thousand votes) because of an attack ad connecting her to the Defund the Police movement. “Don’t say socialism ever again,” the congresswoman said on the call, according to Washington Post reporter Erica Werner.


“We need to be pretty clear … it was a failure. It was not a success,” she added about election night. While the results of the presidential race remain unclear, Democrats had a disappointing election night regardless, as they failed to gain control of the Senate and actually ended up losing seats in the House, where they still remain the majority party. Werner reported that Spanberger did not find a lot of support on the call, with Speaker of the House Nancy Pelosi (D-California) openly disagreeing with the assessment, and Rep. Rashida Tlaib (D-Michigan) pushing back and saying former President Barack Obama was called a Muslim and socialist without being connected to movements like Black Lives Matter or Defund the Police.

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The totally insane idea that Corbyn is an anti-semite has been as hard to kill by evidence in the UK as Russiagate is in the US and UK. And several lies about Assange. The media has become toxic.

EHRC Antisemitism Report Added Fire To Labour’s Simmering Civil War (Cook)

It was easy to miss the true significance of last week’s Equalities and Human Rights Commission (EHRC) report on the British Labour Party and antisemitism amid the furore over the party suspending its former leader, Jeremy Corbyn. The impression left on the public – aided by yet more frantic media spin – was that the EHRC’s 130-page report had confirmed the claims of Corbyn’s critics that on his watch the party had become “institutionally antisemitic”. In fact, the watchdog body reached no such conclusion. Its report was far more ambiguous. And its findings – deeply flawed, intentionally vague and glaringly inconsistent as they were – were nowhere near as dramatic as the headlines suggested.

The commission concluded that “there were unlawful acts of harassment and discrimination for which the Labour Party is responsible”. Those failings, according to the commission, related to the handling of antisemitism complaints, interference by the leader’s office in the disciplinary procedure, and “unlawful harassment” by two Labour Party “agents”. None of that seemed to amount to anything like the supposed claims of a “plague” and “tidal wave” of antisemitism that have dominated headlines for five years. Paradoxically, the equalities commission’s conclusions sounded a lot like Corbyn’s statement that the scale of Labour’s antisemitism problem had been “dramatically overstated”. That remark quickly became grounds for the party suspending him.

So sustained has the furore about “institutional antisemitism” been in Labour that, according to a recent survey by academics Greg Philo and Mike Berry, the British public estimated that on average a third of Labour members had been disciplined for antisemitism – more than 300 times the real figure. But in the end, the commission could identify only two cases of unlawful antisemitism the party was responsible for. According to the report, there were 18 “borderline” cases, however, “there was not enough evidence to conclude that the Labour Party was legally responsible for the conduct of the individual.”

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“The Government also has to consider the political consequences of continuing to throw stimulus at construction over other sectors that are in pain..”

Sorry, but that government is stuck in a corner.

Australian Property Bubble Hasn’t Yet Burst Amid The Pandemic (Abc.au)

After years of dire predictions that Australia’s property bubble could burst, national house prices continue to withstand the otherwise devastating impact of the coronavirus pandemic, and once again the doomsayers have been proven wrong. Data released this week from CoreLogic shows the national average rose 0.4 per cent in October, following five months of national declines during the COVID-19 pandemic. Every state across Australia (except for Melbourne which suffered the impact of a second COVID lockdown) experienced gains. But how long will the good run last? It’s a question I asked AMP Capital chief economist Shane Oliver, who in late March at the onset of the pandemic in Australia, had warned that house prices could plummet by 20 per cent in a worst-case scenario.

In response to my question, Dr Oliver jokes that when people get their Australian citizenship, it should come with a written warranty saying, ‘Congratulations, you are now guaranteed to live in a country where house prices will continue to rise’. He says over the years regulators and government have always stepped in and introduced measures that stopped the bubble bursting. These range from interest rate cuts, tax incentives for property investors and other measures aimed at propping up construction. During the early 1990s recession, the level of household debt in Australia was around 40 per cent of income, he says, whereas now it is close to 200 per cent — one of the highest levels in the world.

“Each time there’s a downturn people get worried about debt and pay some of it back, but before things go too far [into the positive], the Reserve Bank cuts rates and people start borrowing again — we go back to a new level of debt and it starts the cycle again.” [..] But Dr Oliver and other economists also warn that in the current environment there are limits to how fiercely regulators and governments can fuel house prices. Interest rates are near zero, and tax incentives aimed at housing are already generous (with calls to wind them back as part of a wider tax reform package). The Government also has to consider the political consequences of continuing to throw stimulus at construction over other sectors that are in pain. In short, the pandemic has created several reasons to maintain a level of cynicism about the future of house prices.

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“..the CDC quickly reversed its support for the decision, then went back and supported it again, then did it again, etc.”

Experts Want 15 Days Of Counting To Flatten The Curve Of Votes For Trump (BBee)

After a concerning spike in votes for Trump occurred on election night, experts are calling for 15 days of counting to flatten the curve of votes for the “wrong candidate.” While some scientists recommended just letting the votes for Trump be counted fairly until we all achieve herd immunity to Trump, others said we need to lock down the vote-counting places, and make sure no one can get inside, in order to kill off the virus of Trump. “If we all band together and allow just 15 days of counting, we can flatten the curve of votes for Trump,” said Dr. Fauci. “And we also advise Trump supporters to wear airtight masks. For, you know, science.”


The CDC, WHO, and China are all backing the plan, saying it is “SCIENCE!” and anyone who is opposed to it is “ANTI-SCIENCE!” However, the CDC quickly reversed its support for the decision, then went back and supported it again, then did it again, etc. At publishing time, the experts had revised their recommendation to at least 8 months of counting to flatten the curve.

Read more …

 

 

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Bill Barr in September on mail-in ballots

 

 

 

 

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Feb 132020
 
 February 13, 2020  Posted by at 12:28 pm Finance Tagged with: , , , , , , , , , ,  11 Responses »


DPC Wanted: 500 men to eat frankfurters (click to see sign), Bowery, Rockaway, NY 1905

 

Hubei’s Coronavirus Cases Rise 10-Fold After Change In Diagnostic Criteria (SCMP)
COVID-19 Coronavirus Cases (Worldometer)
Beijing Battles ‘Crisis Of Chernobyl Proportions’ In Virus Outbreak (SCMP)
Roger Stone Sentencing Drama Roils Capitol Hill (Pol.)
Yiannopoulos to Gift Royalties From Roger Stone Book to His Defense Fund (GP)
Devin Nunes: Examples Of ‘What Mueller Team Was Really Doing’ Coming Soon (WE)
Boeing’s Got Bigger Problems Than The 737 MAX (CNN)
Corbyn Praises Assange And Calls For Extradition To US To Be Halted (Ind.)
Scientists Discover Holy Grail Which Could Lead To Universal Vaccine
Barclays CEO Probed Over Epstein Ties (R.)
Scottish Independence Is Within Sight (Craig Murray)

 

 

Already covered the virus files earlier today in China Cedes Virus Control. First two pieces below are a reminder of what happened, and what it means: Hubei’s health commission changed the diagnostic criteria used to confirm cases. The result looks something like this for Hubei:

 

 

Which leads to this global picture. Hubei apparently is the only province to date that has implemented the diagnostic changes.

 

 

 

 

 

“Hubei’s new confirmed cases pegged at 14,840, nearly 10 times more than the previous day, while deaths more than doubled to 242.”

Note: that may look like a mortality rate of 20%, but that is far too high. Then again, 2% max doesn’t look tenable anymore either. More on that below.

Hubei’s Coronavirus Cases Rise 10-Fold After Change In Diagnostic Criteria (SCMP)

Health authorities in China’s Hubei province – the epicentre of the coronavirus epidemic – reported on Thursday 14,840 new confirmed cases, almost 10 times the number reported a day earlier, and new deaths attributable to the contagion rose to 242, more than double on the day. This brings the totals announced by the province’s health commission to 48,206 and 1,310, respectively, as of Wednesday. Officials in Hubei had reported 94 fatalities and 1,638 newly confirmed cases a day earlier. Hubei’s health commission said in its daily statement that it had changed the diagnostic criteria used to confirm cases, effective Thursday, meaning that doctors have broader discretion to determine which patients are infected.

“From today on, we will include the number of clinically diagnosed cases into the number of confirmed cases so that patients could receive timely treatment,” the health authority said. Previously, patients could only be diagnosed by test kits, which has seen a shortage of supply across the country. Tong Zhaohui, an expert in the central guidance group and vice-president of Beijing Chaoyang Hospital, said the move was in line with the National Health Commission’s latest diagnostic guidelines to include clinical diagnosis, using CT scans and other tests. “When doctors diagnose pneumonia, they can only get the etiology of the disease 20 to 30 per cent of the time. We have to rely on clinical diagnosis 70 to 80 per cent of the time. Increasing the diagnosis of clinical cases will help us make an additional judgment on the disease,” he told state broadcaster CCTV in an exclusive interview.

[..] Some 13,436 of the new cases announced on Thursday were confirmed in Hubei’s capital of Wuhan …

Read more …

The mortality rate looks bad.

COVID-19 Coronavirus Cases (Worldometer)

There are currently 60,373 confirmed cases and 1,369 deaths from the Wuhan Novel Coronavirus (2019-nCoV) outbreak as of February 13, 2020, 05:20 GMT. The condition of patients, according to the World Health Organization (Feb. 7 press conference) and based on 17,000 cases in China, are: • 82% mild •15% severe •3% critical


“Total Cases” = total cumulative count (60,373). This figure therefore includes deaths and recovered/discharged patients (cases with an outcome). By removing these from the “total cases” figure, we get “currently infected cases” (cases still awaiting for an outcome). The charts include provisional data and values for Feb. 12 that are the result, for the most part, of a change in diagnosis classification, for which an additional 13,332 cases and 107 deaths were counted on Feb. 12..

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Paints Xi under much more pressure than acknowledged.

Beijing Battles ‘Crisis Of Chernobyl Proportions’ In Virus Outbreak (SCMP)

This winter, [Hubei] was the starting point for an outbreak of a new coronavirus – which causes the disease now officially known as Covid-19 – that has rapidly spread across the country and beyond, claiming the lives of more than 1,300 people and infecting over 59,000 so far. The crisis has been referred to as “China’s Chernobyl” – the 1986 nuclear accident in the former Soviet Union that was worsened by an opaque system and incompetent crisis management – and is the worst the ruling Communist Party has seen since 1989. It is certainly the worst under strongman leader President Xi Jinping. “This is clearly a crisis of enormous proportions,” said Dali Yang, a political scientist with the University of Chicago.

“Failure … will be blamed on the system and especially on Xi, who’s staked out his personal leadership role.” Yang said although the Chinese government’s propaganda machine was trying to spin the outbreak into a show of the country’s strength, it would not convince everyone. “It will be a crisis of Chernobyl proportions, especially because we will have to contend with the virus for years to come,” Yang said. “Those who have sustained losses, in particular, will be asking questions, as has happened before in the aftermath of a crisis.” Zhao Suisheng, a political scientist at the University of Denver, said there was much less diversity of domestic public opinion about the causes of this crisis than for the trade war or the Hong Kong protests.

“Many Chinese sympathised with the government on the trade war, but the mainstream public opinion now is almost one-sided against the government,” said Zhao, who has written several books on Beijing’s control of information and public opinion. “This is something I haven’t seen since 1989.” Zhao said the virus outbreak could see the party, and especially the Xi government, having to answer some tough questions. “China’s political system under Xi – with its high concentration of power, its opaqueness, the overemphasis on ideology and Leninist discipline – has almost fully removed society’s capacity to handle such crisis,” he said.

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I guess many people won’t agree, but I still think lying about things that don’t exist should not result in a 9-year sentence. I’m with the right on this one.

Roger Stone Sentencing Drama Roils Capitol Hill (Pol.)

And you thought the drama would end with impeachment. Yesterday, Justice Department officials stepped in and asked for a more lenient sentence for Roger Stone after the government initially recommended that he spend 7 to 9 years in prison for impeding congressional and FBI investigations into ties between the Trump campaign and Russia. The DOJ’s intervention prompted a fierce backlash, with all four federal prosecutors withdrawing from the case in what appears to be an extraordinary protest.

The backstory: The DOJ’s decision to overrule the stiff sentencing recommendation came after Trump repeatedly railed on the prosecutors for urging such a lengthy prison sentence for Stone. “I thought the recommendation was ridiculous. I thought the whole prosecution was ridiculous,” Trump told reporters. “I thought it was an insult to our country and it shouldn’t happen.” The president last night also lobbed attacks at Judge Amy Berman Jackson, who is overseeing the case and will ultimately sentence Stone; retweeted a post calling for pardons for Stone and Michael Flynn; and thanked Attorney General William Barr for taking charge.

The reaction from Dems: Speaker Nancy Pelosi accused Trump of “political interference,” while Senate Minority Leader Chuck Schumer called for the Inspector General to open an investigation into the DOJ’s actions. House Judiciary Chairman Jerry Nadler, meanwhile, vowed to “get to the bottom” of the matter. And House Intelligence Chairman Adam Schiff called it a “blatant abuse of power.” But here’s the reality: Democrats know there is little, if anything, they can do to counter an emboldened, post-impeachment Trump.

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Cassandra Fairbanks. Stone lost everything including his house because he is useful bait in the anti-Trump and especially anti-Assange narratives.

Yiannopoulos to Gift Royalties From Roger Stone Book to His Defense Fund (GP)

New York Times-bestselling author Milo Yiannopoulos has penned a new book about Roger Stone’s trial and will be donating royalties to the Roger Stone Defense Fund. The book, The Trial of Roger Stone, went up for pre-order on Wednesday and will be released on March 1. “In this moving, eyewitness account of Roger Stone’s trial and his decades-long career of political chicanery, author and Stone intimate Milo Yiannopoulos introduces America to the man behind the myth—and explains how the biggest stitch-up in modern judicial history unfolded. He offers a plea to President Trump to step in and do the right thing, and he explains how we can prevent such grotesque injustices from happening ever again,” a press release for the book explains.

Stone, a brilliant and notorious political consultant, was charged with seven felony counts relating to obstructing the ridiculous Russian interference investigation. He is a longtime confidant of President Donald Trump and many believe that his relationship with him is why he was targeted by the Department of Justice with such obscenely overblown charges. “The Mueller Report was a catastrophe for the malevolent forces desperate to impeach President Donald Trump. It failed to prove any collusion between the Trump campaign and Russia. Since then, many of the President’s former advisors and associates have been subjected to vindictive, political prosecutions for a variety of trivial, unrelated offenses. Roger Stone is one of them,” Yiannopoulos said in a statement provided to the Gateway Pundit.

The 67-year-old nonviolent first offender was found guilty on all seven charges in November and is due to be sentenced this month. On February 10, prosecutors requested seven to nine years in prison, but the following day Justice Department officials stepped in and asked for a more lenient sentence. All four federal prosecutors have now withdrawn from the case and President Trump has not ruled out a pardon. According to the Roger Stone Defense Fund website, his legal defense was projected to cost as much as $3 million. President Trump has been outspoken with his contempt for how the case was handled, calling it “unfair” and a “miscarriage of justice.”

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About time this is no longer just talk.

Devin Nunes: Examples Of ‘What Mueller Team Was Really Doing’ Coming Soon (WE)

Rep. Devin Nunes predicted more fallout from then-special counsel Robert Mueller’s Russia investigation. After the Justice Department recommended a steep prison sentence for Trump confidant Roger Stone, which was walked back on Tuesday, the California Republican said that “this is not going to be the only example” of questionable behavior during the federal inquiry he called an “obstruction of justice trap.” “There’s more to come on this,” the House Intelligence Committee ranking member told Fox Business host Lou Dobbs, before noting that all four prosecutors in the Stone case, including three who were on Mueller’s team, quit after the Justice Department rebuked their recommendation of up to nine years in prison for the longtime GOP operative. A more lenient three to four years in prison was suggested in the latest court filing.

“We think there’s other examples of things that they did during the Mueller investigation that I think you and your listeners and the American people will be very interested to learn in the coming weeks as we start to unpeel the onion of what the Mueller team was really doing,” he added. Nunes did not share any specifics, but the origins of the Russia investigation are being reviewed by Attorney General William Barr’s hand-picked prosecutor from Connecticut, John Durham. The case against retired Lt. Gen. Michael Flynn recently took a wild turn, with the former White House national security adviser seeking to withdraw his guilty plea on a charge of lying to the FBI and the Justice Department changing its position on a recommended sentence.

Stone was found guilty in November on five separate counts of lying to the House Intelligence Committee in its investigation into Russian election interference, in addition to one count that he “corruptly influenced, obstructed, and impeded” the congressional investigation and another that he attempted to “corruptly persuade” radio show host Randy Credico’s congressional testimony. The two-week jury trial centered on Stone’s false claims of being in communication with WikiLeaks and on his actions taken during the 2016 election and beyond. The 67-year-old was never accused by prosecutors of criminally conspiring with Russia or any other foreign actors.

[..] Nunes claimed Stone should never have been investigated in the first place by what he described as “dirty cops.” “So, what the hell did they do for two years?” the congressman said. “They set up an obstruction of justice trap, and they went after a whole bunch of people that now got sentenced. Some already served their time, and I think all of this has to come into question now,” he added.

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They don’t sell any planes. Zero last month, vs 45 (at over $100 million each) in Jan 2019.

Boeing’s Got Bigger Problems Than The 737 MAX (CNN)

Fixing the 737 Max and getting it back in the air is crucial for Boeing. But it’s not the only major challenge facing the embattled aircraft maker. Boeing also needs to focus on its next generation of passenger planes.vThe aircraft maker has made its focus clear as it works on getting the 737 Max approved to fly again, which is expected to happen by the middle of this year. The plane has been grounded since March, following two fatal crashes that killed 346 people. The nearly year-long crisis has put orders and deliveries of many of the company’s jets on hold. Tuesday, Boeing reported that it didn’t receive any new orders for commercial jets in January, compared to 45 orders a year ago. And it only delivered 13 commercial planes in the month, down from 46 a year earlier.

The 737 Max crisis has stymied Boeing’s growth. But Boeing (BA) faces a longer-term threat that is even more important to overcome: Boeing is falling behind rival Airbus and needs to build the next generation of planes to remain competitive in the future.vThe 777X widebody plane has already been developed and is going through its first round of test flights. But its official debut has been pushed back because of problems with its engine from GE. At the time of the Max crisis, Boeing was planning on delivering the 777X at some point this year. But in October, it pushed back the first delivery date to early 2021.vBoeing has 309 orders of the 777X that are now being delayed.

[..] Boeing will have to turn attention once again to the part of the market now served by the 737 Max. That’s because the need to come up with an replacement for the 737 is on the horizon. It’s tough to tell how soon it will need a 737 replacement. Experts say Boeing might not start taking orders for a 737 Max successor for another 10 years. But the need to come up with a successor could be sooner than that. If the fixes for the 737 Max aren’t enough to make passengers comfortable with flying Boeing’s best-selling jet, Boeing could have to act sooner. Boeing executives and many airlines say they believe passengers will be willing to fly the Max once it is cleared to fly again. But nobody knows for sure.

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Now that he’s become obscure again he speaks out. Hmmm.

Corbyn Praises Assange And Calls For Extradition To US To Be Halted (Ind.)

Jeremy Corbyn has called for the extradition of Julian Assange to the US to be halted, praising the Wikileaks founder for exposing US “war crimes”. Boris Johnson refused to comment on the case, which will begin this month – but surprised the Commons by agreeing the extradition treaty between the two countries is “unbalanced”. The Labour leader’s call came as he also demanded to know whether Anne Sacoolas, who drove the car that killed teenager Harry Dunn, is being “shielded” because she was a CIA spy. On Mr Assange, who faces up to 175 years in a US jail if convicted, Mr Corbyn backed MPs on the Council of Europe who have warned the extradition “sets a dangerous precedent for journalists”.


The one-sided arrangements would be “laid bare” when the courts decide whether he should be sent to the US on “charges of espionage for exposure of war crimes, the murder of civilians and large-scale corruption”, he said. “Will the prime minister agree with the parliamentary report that’s going to the Council of Europe that this extradition should be opposed and the rights of journalists and whistleblowers upheld for the good of all of us,” Mr Corbyn demanded. In response, the prime minister said: “I’m not going to mention any individual cases but it’s obvious that the rights of journalists and whistleblowers should be upheld and this government will continue to do that.”

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One of these stories a day should keep the doctor away.

Scientists Discover Holy Grail Which Could Lead To Universal Vaccine

Researchers at the Massachusetts General Hospital (MGH) in the US have uncovered the ‘Achilles’ heel’ of most viruses which plague mankind, and could soon develop a universal vaccine. Vaccine research, development and testing takes a long time, as the ongoing coronavirus outbreak has shown, but that is because researchers devote their time, attention and resources to targeting specific viruses one-by-one. But now scientists at MGH have located what may prove to be a game-changing breakthrough for humanity which could strengthen our bodies and make them impervious to most viruses. “The goal is to understand how our immune system works in order to create treatments that work against a range of viruses, not just vaccines against a particular one,” said Kate Jeffrey, head of the study, in a hospital press release.


The so-called ‘Achilles heel’ (or vulnerable point) of most viruses is actually just a simple protein named AGO4, which has been shown to have unique antiviral effects in mammalian cells. When studying mice, researchers found that only cells deficient in AGO4 were hypersensitive to infections like the influenza virus. So once they can figure out how to reinforce our bodies’ natural defences with AGO4, viruses will no longer stand a chance of infecting us, theoretically at least. “The next step is to determine how wide the spectrum of action of this protein is for any type of virus,” says Jeffrey. “And then we need to figure out how to increase the activity of AGO4 to enhance protection against viral infections.”

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Known him since 2000, got dozens of wealthy clients through him, visited his island, visited him in prison where he was for prostution/paedophilia. But never one glimpse, your honor!

Barclays CEO Probed Over Epstein Ties (R.)

Britain’s financial regulators are probing historical links between Barclays Chief Executive Jes Staley and the U.S. financier Jeffrey Epstein, who killed himself while awaiting trial on sex trafficking charges, the bank said on Thursday. Barclays said its board had looked into media reports on Staley’s relationship with Epstein, and probed Staley’s characterization of it. The Financial Conduct Authority and the Prudential Regulation Authority are investigating. The bank said its board believes Staley has been sufficiently transparent about his ties to Epstein, whom Staley said he had not seen since taking over as Barclays CEO in 2015. Speaking to reporters on Thursday, Staley said he regretted his relationship with Epstein, which began in 2000 while he was employed by JPMorgan and “tapered off significantly” after he left the Wall Street lender.


The relationship ended in late 2015, Staley said. “I thought I knew him well, and I didn’t. I’m sure with hindsight of what we all know now, I deeply regret having had any relationship with Jeffrey Epstein,” he said. The New York Times last year said that Epstein had referred “dozens” of wealthy clients to Staley when the CEO ran JPMorgan’s private banking business. It also reported that Staley visited Epstein in prison when he was serving a sentence between 2008-09 for soliciting prostitution. Staley also went to Epstein’s private island in 2015, Bloomberg reported. Barclays has previously said that Staley never engaged or paid fees to Epstein to advise him or provide professional services.

Read more …

Boris’ honeymoon weeks are over.

Scottish Independence Is Within Sight (Craig Murray)

There will never again be a route to Scottish independence deemed legal by Westminster. The 2014 referendum will never be repeated. The U.K. will never willingly give up a third of its land, most of its fisheries, most of its mineral resources, its most marketable beef, soft fruit and whisky, most of its renewable energy potential, a vital part of its military including its primary nuclear base, its best universities in a number of key fields including life sciences, its ready pool of intellectual and professional talent. Prime Minister Boris Johnson is for once honest when he says keeping the Union together is his top priority. It is the top priority of the entire British Establishment.

Former Prime Minister David Cameron only agreed to the 2014 referendum because he thought the result would humiliate and kill off Scottish nationalism. Support for independence was at 28 percent in the polls at the time he agreed. Westminster had the most enormous and horrible shock when support for independence grew to 45 percent during the campaign as many people for the first time in their lives heard the real arguments. The Whitehall panic of the last week of the 2014 referendum campaign is not something the British Establishment ever intend to repeat.

There is a charmingly naive argument put forward by some that, if support for independence can be grown to 60 percent in the opinion polls, Johnson and Westminster will have to “grant” a referendum. This is the opposite of the truth. If support for Independence is at 60 percent, the very last thing that the Tories will do is agree a referendum they will lose. Their resistance will be massively hardened. Remember, the Tories could have zero Tory MPs in Scotland and still have a majority of 73 in Westminster. There is no political damage for Johnson in unpopularity in Scotland. In England, his anti-Scots stance is very popular with a core support base of knuckle-dragging, ill-educated racists.

[..] If you believe in Scottish independence, you believe that the Scottish nation are a “people” within the meaning of the UN Charter, and thus have an inalienable right of self-determination. That means that Westminster has no right, by legislation or by any other means, to prevent the Scottish people from exercising their self-determination. I am sorry, but this is the fact: If you believe Scotland should only move to independence in a Westminster-approved process, you do not really believe in Scottish Independence at all.

Read more …

 

 

 

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Dec 142019
 
 December 14, 2019  Posted by at 10:40 am Finance Tagged with: , , , , , , , , ,  10 Responses »


Lewis Wickes Hine Child Labor in Magnolia Cotton Mills spinning room, Mississippi Mar 1911

 

Fed Policymakers See US Economy On Good Footing (R.)
‘Back Up The Truck And Buy, Buy Buy,’ Because There Is No Risk (MW)
Trump Halts New Tariffs In US-China Trade War (BBC)
China To Target Around 6% Growth In 2020, Step Up State Spending (R.)
Rudy Giuliani Can Barely Contain Himself Over His Ukraine Findings (ZH)
Two for One Holiday Special (Kunstler)
NY Post Editorial Board Names Eric Ciaramella As Whistleblower (ZH)
Labour Voters ‘Defected Over Corbyn, Not Brexit’ (Ind.)
The State of the Canadian Debt Slaves (WS)
Talks At COP25 Stalled ‘Because Of Australia, Saudi Arabia & Brazil’ (SMH)
Esper Tells Syrian Kurds US Never Promised Them A State (RT)
Lawyers Complain About Lack Of Access To Julian Assange In Jail (PA)

 

 

Just yesterday they announced another $500 billion for the repo crisis. Which will take the balance sheet over $4.5 trillion. Everything’s just dandy.

Fed Policymakers See US Economy On Good Footing (R.)

The U.S. economy is doing well and looks set to stay that way next year, two top Federal Reserve policymakers said on Friday, remarks that suggest they are content to leave interest rates where they are. “I think the economy is in a good place. U.S Federal Reserve Vice Chair Richard Clarida said in an interview with Fox Business Network, adding that the consumer has never been in better shape. “We have the strongest labor market in 50 years, we have low and stable inflation, we have solid growth and our baseline outlook for the economy is more of the same in 2020.” Speaking to students and faculty earlier in the day at the Borough of Manhattan Community College, New York Fed President John Williams summed it up this way: “The economy is performing about as well as we have seen in decades.”

Williams and Clarida work closely with Fed Chair Jerome Powell, who on Wednesday announced the U.S. central bank’s well-telegraphed decision to hold interest rates steady in a range of 1.5% to 1.75%, and signaled borrowing costs would remain there for the foreseeable future. The Fed cut rates three times from July to October in a mini-easing cycle, designed to sustain the U.S. economic expansion amid slowing global growth and a drop in business investment caused by uncertainty amid the 17-month long U.S.-China trade war. On Friday the world’s two largest economies announcing a Phase 1 agreement that reduces some U.S. tariffs in exchange for increased Chinese purchases of American farm goods.


“Any resolution of that uncertainty, assuming it’s a good deal, is obviously a positive for the economic outlook,” Clarida said. He added, though, that trade was just a number of risks the Fed will monitor. “This is obviously a negotiation; it looks like it’s going in a positive direction,” Clarida said. “But … global developments more broadly have been something we’ve been monitoring. You’ve had a global slowdown this year, emerging markets have been slowing down, there are muted inflation pressures. So it’s not just any one thing that we are focusing on.”

Read more …

There is no risk because the Fed jumps in always and everywhere. Except to protect savings and pensions. Those they kill.

‘Back Up The Truck And Buy, Buy Buy,’ Because There Is No Risk (MW)

“Back up the truck and buy, buy, buy.” That was the advice from Chris Rupkey, chief financial economist at MUFG Union Bank, who sent a rousing note to clients late Thursday, on the heels of trade optimism that is lifting global equities at the week’s end and a decisive election outcome in the U.K. “All over the world, markets are falling love. Buy it. Buy it all,” reads the headline of that note. Rupkey said a pair of geopolitical risks — an elusive U.S.-China trade deal and yearslong wrangling over Brexit — “thought to be strangling world economic growth” incredibly look to be getting resolved in a “big, big way.”


“There is some smoke and mirrors here, but it looks like this is the time for investors around the world to throw months of caution to the winds and take risk off the table, and they are, buying stocks and selling bonds with abandon, as the economic outlook brightens and central banks shelve their plans to cut interest rates further,” he writes. Investors were waiting for more news on a trade deal after reports surfaced Thursday that the U.S. could trim existing import tariffs on Chinese goods, as well as delaying those set to kick in on Sunday. Notably though, China has remained silent on any deal progress in the wake of those developments.

Read more …

You start out big, so you have room to retreat a little.

Trump Halts New Tariffs In US-China Trade War (BBC)

The US and China have announced a preliminary trade agreement. The so-called phase one deal will see billions of dollars in tariffs removed or delayed. US stocks hit a fresh record on hopes there will be a continued softening of trade tensions between the world’s two largest economies. A fresh wave of US tariffs on Chinese imports was due to take effect on Sunday. However, this has been cancelled for now. “We will begin negotiations on the phase two deal immediately, rather than waiting until after the 2020 Election,” US President Donald Trump said in a tweet. “This is an amazing deal for all.”


If the new, higher tariffs had gone ahead, Chinese-made goods such as smartphones, clothing and toys would have become more expensive for Americans just ahead of Christmas. US negotiators are reportedly offering to significantly reduce existing tariffs on about $360bn worth of Chinese imports. In return, China has promised to buy large quantities of US soybeans, poultry and other agricultural products. The agreement is a deal in principle, which means if China breaks any part of the agreement, the Trump administration has the ability to re-implement tariffs.

Read more …

Almost half a trillion in new local bonds. What a great idea.

China To Target Around 6% Growth In 2020, Step Up State Spending (R.)

China plans to set a lower economic growth target of around 6% in 2020 from this year’s 6-6.5%, relying on increased state infrastructure spending to ward off a sharper slowdown, policy sources said. Chinese leaders are trying to support growth to limit job losses that could affect social stability, but are facing pressure to tackle debt risks caused by pump-priming policies. The proposed target, to be unveiled at China’s annual parliamentary session in early March 2020, was endorsed by top leaders at the annual closed-door Central Economic Work Conference this month, according to three sources with knowledge of the meeting’s outcome.

“We aim to keep next year’s growth within a reasonable range, or around 6%,” said a source who requested anonymity. Top leaders pledged to keep economic policies stable while making them more effective to achieve growth targets in 2020, state media said on Thursday. Next year will be crucial for the ruling Communist Party to fulfill its goal of doubling GDP and incomes in the decade to 2020. Economic growth of nearly 6% next year could be enough to meet that goal given the economy is expected to expand about 6.2% this year, policy insiders said.


[..] The government aims to boost infrastructure investment by allowing local governments to issue more special bonds next year, but there is less room for tax cuts, the sources said. The annual budget deficit could rise from this year’s 2.8% of GDP, but is likely to be kept within 3%, they said. Local governments could be allowed to issue special bonds worth some 3 trillion yuan ($426.20 billion) in 2020 to fund infrastructure projects, including 1 trillion yuan front-loaded to this year, they said. “Fiscal policy will provide a key support for the economy,” said one source.

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Let’s see it. Bill Barr has said the Durham report won’t be out until spring-summer 2020. Lots of wiggle room.

Rudy Giuliani Can Barely Contain Himself Over His Ukraine Findings (ZH)

For the past several weeks, the personal attorney to President Trump has been in Ukraine, interviewing witnesses and gathering evidence to shed light on what the Bidens were up to during the Obama years, and get to the bottom of claims that Kiev interfered in the 2016 US election in favor of Hillary Clinton. He has enlisted the help of former Ukrainian diplomat, Andriy Telizhenko, to gather information from politicians and ask them to participate in a documentary series in partnership with One America News Network (OANN) – which will make the case for investigating the Bidens as well as Burisma Holdings – the natural gas firm which employed the son of a sitting US Vice President in a case which reeks of textbook corruption.

According to the Journal, Giuliani will present findings from his self-described “secret assignment” in a 20-page report. “Trump and Giuliani say then-Vice President Biden engaged in corruption when he called for the ouster of a Ukrainian prosecutor who had investigated a Ukrainian gas company where Hunter Biden served on the board. The Bidens deny wrongdoing, and ousting the prosecutor was a goal at the time of the U.S. and several European countries. -Wall Street Journal. Telizhenko, the former diplomat, tells the Journal that the plan for the series was conceived during the impeachment hearings as a way for Giuliani to tell his side of the story.


The former Ukrainian diplomat flew to Washington on November 20 to film with Giuliani, while in early December he accompanied America’s Mayor on the Kiev trip – stopping in Budapest, Vienna and Rome. Upon his return to New York on Saturday, Giuliani says he took a call from President Trump while his plane was still taxiing down the runway, according to the Wall Street Journal. “What did you get?” Trump asked. “More than you can imagine,” answered the former New York mayor who gained notoriety in the 1980s for taking down the mob as a then-federal prosecutor.

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The Dems focus on impeachment, the GOP on the elections.

Two for One Holiday Special (Kunstler)

Hillary Clinton sure got her money’s worth with the Fusion GPS deal: it induced a three-year psychotic break in the body politic, destroyed the legitimacy of federal law enforcement, turned a once-proud, free, and rational press into an infernal engine of bad faith, and is finally leading her Democratic Party to an ignominious suicide. And the damage is far from complete. It’s even possible that Mrs. Clinton will return to personally escort the party over the cliff when, as is rumored lately, she jumps into the primary contest and snatches the gonfalon of leadership from the ailing old man of the sclerotic status quo, Uncle Joe Biden. The citizens of this foundering polity have been subjected to a stunning doubleheader of political spectacle clear through the week.

On Monday, the Horowitz Report was briefly celebrated by the Left for claiming “no bias” and a “reasonable predicate” for the RussiaGate mess — until auditors actually got to read the 400-plus-page document and discovered that it was absolutely stuffed with incriminating details that Mr. Horowitz was too polite, too coy, or too faint-hearted to identify as acts worthy of referral for prosecution. Mr. Barr, the attorney general, and US attorney John Durham immediately stepped up to set the record straight, namely, that this was hardly the end of the matter and that they were privy to fact-trains of evidence that would lead, by-and-by, to a quite different conclusion. This reality-test was greeted, of course, with shrieking for their dismissal from the Jacobin Left.


But then at mid-week, Mr. Horowitz put in a personal appearance before the Senate Judiciary Committee and left no doubt that entire RussiaGate extravaganza was spawned by Fusion GPS’s utterly false Steele dossier and the so-called “Intel Community’s” zeal for weaponizing it to overthrow the president. The shock-waves from all that still pulsate through the disordered collective consciousness of this sore-beset republic, and will disturb the sleep of many former and current officials for months to come as the specter of Barr & Durham transmutes into a nightmare of Hammer & Tongs, perp-walks, and actual prosecutions.

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What a weird joke. Yeah, let him do Maddow with a mask on.

NY Post Editorial Board Names Eric Ciaramella As Whistleblower (ZH)

The New York Post Editorial Board has named CIA analyst Eric Ciaramella as the whistleblower at the heart of the Trump impeachment saga, confirming an October 30 report by RealClearInvestigation’s Paul Sperry which has been widely cited in subsequent reports. Whistleblower lawyers refuse to confirm or deny Ciaramella is their man. His identity is apparently the worst-kept secret of the Washington press corps. In a sign of how farcical this has become, Rep. Louie Gohmert (R-Texas) said his name as part of a series of names during a live hearing Wednesday night aired on television. He never called him the whistleblower, just said he was someone Republicans thought should testify, yet Democrats angrily denounced the “outing.” If you don’t know the man’s name, how do you know the man’s name?” -New York Post

Ciaramella, a registered Democrat, is a CIA analyst who specializes in Russia and Ukraine, and ran the Ukraine desk at the National Security Council (NSC) in 2016. He previously worked for then-NSC adviser Susan Rice, as well as Joe Biden when the former VP was the Obama administration’s point-man for Ukraine. He also worked for former CIA Director John Brennan, and was reportedly a highly valued employee according to RedState’s Elizabeth Vaughn. He also became former National Security Adviser H.R. McMaster’s personal aide in June 2017, was called out as a leaker by journalist Mike Cernovich that same month.


He also worked Alexandra Chalupa, a Ukrainian-American lawyer and Democratic operative involved in allegations that Ukraine meddled in the 2016 US election by releasing the so-called ‘Black Ledger’ that contained Paul Manafort’s name. In 2017, former White House chief strategist Steve Bannon wanted Ciaramella kicked off the National Security Council over concerns about leaks.

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It’s Corbyn’s job to realize this. Or it was.

Labour Voters ‘Defected Over Corbyn, Not Brexit’ (Ind.)

More voters turned against Labour because of Jeremy Corbyn rather than Brexit, according a poll probing the reasons for the party’s greatest electoral defeat in decades. Pollsters Opinium found that among 2017 Labour voters who defected at last night’s general election, 37 per cent of them cited the leadership of the party as their main reason. Despite Mr Corbyn’s claim the election “was taken over ultimately by Brexit”, 21 per cent said they defected due to the party’s stance on EU membership while just six per cent said their main reason was Labour’s economic policies. It comes as the Labour leader indicated he would step down from his role at the start of the new year, but remain in place for the duration of a leadership contest, which could take several months.


Among Labour voters who switched allegiances to the Tories, 45 per cent cited Mr Corbyn’s leadership as the main issue while 29 per cent of those who defected to the Liberal Democrats did so. Of all respondents who said they did not vote for the Labour Party at the first December election in almost a century, 43 per cent said their main reason was the leadership. A further 17 per cent placed blame with the triangulation on Brexit and 12 per cent of the economic policies put forward in Labour’s manifesto.

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“..despite still ultra-low interest rates..”

The State of the Canadian Debt Slaves (WS)

Canadian households, rated near the top of the most indebted in the world, accomplished something awe-inspiring: They got even more indebted and their leverage rose to a new record, according to data released today by Statistics Canada. The portion of their disposable income (total incomes from all sources minus taxes) that Canadian households spent on making principal and interest payments, including on mortgage debts and non-mortgage debts such as credit card balances, reached a new record of 14.96% in the third quarter, This record beat the prior record of 2007, and this happened despite still ultra-low interest rates:

Mortgage debt was the driver behind this new record, as the portion of disposable income that Canadians spent to make interest and principal payments on their mortgages rose to 6.74%, the highest ever. But these are aggregate numbers, and for some individual households, the burden is a lot higher. Based on data from the 2016 census, 67.8% of Canadian households own their home, and the ratio has been dropping. The remaining households rent, and they do not have a mortgage. And a portion of those who own a home do not have a mortgage either because they’d already paid it off. And another portion of homeowners only carries a relatively small amount of mortgage debt.


But among the remaining homeowners, particularly those who bought in recent years, the burden of their mortgage is heavy. And it’s this portion that everyone is worrying about, not the large number of other Canadian households. In the US, it was this portion that triggered the mortgage crisis — not the renters, and not the one-third of homeowners who’d already paid off their mortgages, and not those homeowners who’d paid down their mortgages significantly. Non-mortgage debt, such as credit-card balances and personal loans, also increased, but did not take out the previous high. In the third quarter, debt service on non-mortgage debts reached 8.23% of disposable income, the highest since Q3 2008. This chart shows the two ratios separately:

Americans were forced to deleverage during the mortgage bust and housing bust, and have never re-leveraged to the full extent, particularly with mortgage debt and credit card debts, which are barely higher than they were at the peak in 2007, but over those 12 years the economy had grown, and the population has grown, and the ratio of mortgage debt and credit card debt to GDP has declined sharply. The exception are student loans, which have totally blown out, and auto loans which have also increased faster than GDP. Canadian households in aggregate never really experienced the full effects of the Financial Crisis in the housing market, and they weren’t forced to deleverage, and there was no lesson to be learned, and they have gone hog-wild on debt to fund their housing bubbles:

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Others say because of the US. It’ll end with big promises that remain unfunded.

Talks At COP25 Stalled ‘Because Of Australia, Saudi Arabia & Brazil’ (SMH)

Global climate talks have been extended into the weekend as nations wrangle over carbon accounting issues, including whether Australia should be able to slash its Paris emissions reduction goals using a surplus from an earlier era. As is typical with Conference of the Parties (COP) events, the gathering in the Spanish capital of Madrid blew past its Friday deadline. Observers expect negotiations on carbon trading rules and other issues to last until at least Sunday, Australian time. International media singled out Australia’s insistence it be allowed to count “over-achievement” during the 2012-20 Kyoto Protocol period to reduce its abatement task during the 2021-30 Paris accord as one brake on progress.


John Connor, chief executive of the Carbon Markets Institute, said a ban on Australia’s use of so-called Kyoto carry-over credits remained an option in final drafts. The use of a “surplus” – effectively halving Australia’s Paris pledge of reducing 2005-levels of emissions by 26 per cent by 2030 – opened the door to India and former Soviet nations to cut their ambition too, he said. “Other countries definitely care … because the Kyoto carryover is a card only developed countries, who had carbon budget commitments under the Kyoto protocol, can play,” Mr Connor said. “To date it remains that only Australia is willing to play that card and it’s not winning them friends.”

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This goes back to Condoleeza Rice at least.

Esper Tells Syrian Kurds US Never Promised Them A State (RT)

The US never promised Syria’s Kurds that it would help them build an autonomous state, Defense Secretary Mark Esper has insisted, despite years of hints to the contrary. So much for the birth pangs of that New Middle East… “Nowhere, at no point in time did we tell the Kurds, we will assist you in establishing an autonomous Kurdish state in Syria, nor would we fight against the longstanding ally Turkey on your behalf,” Esper told reporters on Friday. “We live up to our obligations, and our obligation, our agreement, our understanding with the Kurds was this: that we would work together to fight in Syria to defeat ISIS,” he explained, referring to the Islamic State (IS, formerly ISIS) terrorist group.

But now that ISIS has been declared dead almost as many times as its late leader Baghdadi, is it game over for the US-Kurdish partnership? Esper’s words no doubt came as a shock to anyone expecting a continuation of the Assad-Must-Go policies of the Obama administration, in which it was understood that the Kurdish Syrian Democratic Forces would be rewarded for doing their part to overthrow Syrian President Bashar Assad with their own semi-sovereign state à la Iraqi Kurdistan. US media have long sung the praises of ‘Rojava’ as some sort of feminist utopia, but this “brave social experiment” is now imperiled by the Trump administration’s stubborn refusal to continue waging a war it has all but lost in Syria.


The SDF provided an ideal anti-Assad proxy through which the US could occupy resource-rich areas of Syria, an occupation which would otherwise be considered illegal under international law. But when the US began pulling out of northeast Syria back in September, leaving the surprised Kurds at the mercy of Turkish forces that view them as terrorists, the Kurds were forced to beg the same Assad government they had decried as the devil incarnate while the US was still propping them up for protection. They ultimately swallowed their pride and worked out an arrangement with Syrian and Russian forces along the Turkish border, but this was not the deal they thought they’d made with the US.

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From our Comments yesterday:

“Finally, DJ Baraitser asked Gareth Peirce if it would help if Julian #Assange were presented in person on the 19th in order to facilitate a meeting afterwards. Peirce declined saying that “It’s a difficult claustrophobic journey from Belmarsh”

So, the main complaint apparently – and the headline to the story – is that they need more direct access to Assange. But when the Judge offers one thing that IS in her power to order that would give them at least some direct access in person, the lawyers decline with a flimsy excuse.

Now that he is on remand he is supposed to be allowed 2 social visits per week and unlimited legal visits. Those two things are separate, one doesn’t preclude the other. If he isn’t getting that and he was my client I’d be raising merry hell about it and dragging whoever necessary into the appropriate Court TODAY to get an Order fixing it.”

Lawyers Complain About Lack Of Access To Julian Assange In Jail (PA)

Julian Assange has been blocked from seeing evidence in his extradition case because his lawyers cannot get sufficient access to him, a court has heard. The WikiLeaks founder, 48, appeared at Westminster magistrates court by video link on Friday for a hearing to extend his detention in Belmarsh prison, in south-east London. He is being held in the high-security jail before a full hearing in February when he will fight extradition to the US, where he faces 18 charges including conspiring to hack into a Pentagon computer. Assange is accused of working with the former US army intelligence analyst Chelsea Manning to leak hundreds of thousands of classified documents.

Assange appeared uncomfortable as he sat waiting for the hearing to start, clenching his hands together before putting them inside the sleeves of his grey sweater. He spoke to confirm his name and date of birth and to clarify he was Australian, after the court’s legal adviser mistakenly suggested he was a Swedish national. The court heard that his lawyers had made a request to the judge, complaining about a lack of access to their client behind bars. Gareth Peirce, defending Assange, said the legal team were struggling to prepare documents for the case as Assange had no access to the evidence. “Without Mr Assange’s knowledge, some of it is recently acquired evidence, some of it is subject to months of investigation not always in this country, of which he is unaware because of the blockage in visits,” she said.


“Despite our best efforts, Mr Assange has not been given what he must be given, and we are doing our utmost to cut through this.” Peirce said the governor of Belmarsh had prioritised family visits over legal visits, and she asked the judge to step in. But the district judge, Vanessa Baraitser, said she had no jurisdiction over the Prison Service.= “Can I make it clear that I have no desire to stand in the way of any lawyer having proper access to their client and it’s in the interest of justice that they do,” the judge said. “What I can do and say is to state in open court that it would be helpful to this extradition process that Mr Assange’s lawyers have the access to their client.”

Read more …

 

Banksy’s latest in Birmingham

 

 

 

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Dec 132019
 


John Vachon Auto of migrant fruit worker at gas station, Sturgeon Bay, Wisconsin Jul 1940

 

A Very Difficult Night (Craig Murray)
Someone Interfered In The UK Election, And It Wasn’t Russia (CJ)
EU Executive Expects Mandate For Talks On Post-Brexit Trade Deal (R.)
The Japanization of the European Union (Jesús Huerta de Soto)
Fed Will Flood Market With Gargantuan $500 Billion To Avoid Repo Crisis (ZH)
Terms Of US-China ‘Phase One’ Trade Deal Will “Never Be Made Public” (ZH)
Tulsi Gabbard Takes No Prisoners In DNC Warfare (LN)
Boeing Scuttles Timeline For 737 MAX Return After CEO Meets With FAA (R.)
Qantas Selects Airbus Over Boeing For World’s Longest Flights (R.)

 

 

Most of my news feeds are focused on just one thing today: the UK elections. Not a particularly intersting issue in my view. But here goes:

Biggest winners: Not Boris Johnson, but Dominic Cummings and the Scots (including the SNP). Johnson has won nothing at all. On the other hand Cummings has again shown he can win elections, and the Scots will show they can too. Johnson will now be without Cummings, and then he is nowhere.

Biggest loser: Not Jeremy Corbyn, but Julian Assange. Had Corbyn won, Assange would be much closer to fair treatment and perhaps freedom. Those doors are closed now. Corbyn lost because Cummings used far advanced new media techniques, while Labour are still canvassing door to door like it’s 1960 or ’70. Yes, Corbyn also lost to smear, but that goes hand in hand with the media techniques. Labour has a lot of catching up to do.

 

Here’s Craig Murray from Scotland:

A Very Difficult Night (Craig Murray)

It is hard to doubt the basic accuracy of that exit poll now the Conservatives have taken the Blyth Valley. If the Conservatives sweep to power in England, then we have to move very early – and I mean within weeks – on Scottish Independence . I am extremely sorry for all my friends in England who have no such escape route from the Conservative Party. I am much more impacted by this result than I have ever been before, because it brings a still more right wing Conservative Party to untrammeled power, and because I genuinely feel the electorate which has swung are fueled by anti-immigrant racism.


I am not vehemently opposed to Brexit itself, funnily enough, but the ending of freedom of movement and single market access I view as crazed xenophobia. I am also unhappy with the campaign itself, which seemed to take media bias to new levels in ways I have documented, particularly from the BBC. We saw the same in 2014, and the entire experience has been a reminder of how difficult to fight any new independence referendum will be. If the SNP takes 50 seats in Scotland I shall be delighted. Scotland is of course a Remain area. I am for the next glass of Lagavulin clinging to the idea that Remain leaning areas in England may cause trouble for the Tories too.

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A bit very obvious by now, but it’s not about newspapers; they’re just extra.

Someone Interfered In The UK Election, And It Wasn’t Russia (CJ)

As of this writing British exit polls are indicating a landslide victory for the Tories. Numerous other factors went into this result, including most notably a Labour Party ambivalently straddling an irreconcilable divide on the issue of Brexit, but it is also undeniable that the election was affected by a political smear campaign that was entirely unprecedented in scale and vitriol in the history of western democracy. This smear campaign was driven by billionaire-controlled media outlets, along with intelligence and military agencies, as well as state media like the BBC. Labour leader Jeremy Corbyn has been described as the most smeared politician in history, and this is a fair description.

Journalist Matt Kennard recently compiled documentation of dozens of incidents in which former and current spooks and military officials collaborated with plutocratic media institutions to portray Corbyn as a threat to national security. Journalistic accountability advocates like Media Lens and Jonathan Cook have been working for years to compile evidence of the mass media’s attempts to paint Corbyn as everything from a terrorist sympathizer to a Communist to a Russian asset to an IRA supporter to a closet antisemite. Just the other day The Grayzone documented how establishment narrative manager Ben Nimmo was enlisted to unilaterally target Corbyn with a fact-free Russiagate-style conspiracy theory in the lead-up to the election, a psyop that was uncritically circulated by both right-wing outlets like The Telegraph as well as ostensibly “left”-wing outlets like The Guardian.

[..] The historically unprecedented smear campaign that was directed at Corbyn from the right, the far-right, and from within his own party had an effect. Of course it did. If you say this today on social media you’ll get a ton of comments telling you you’re wrong, telling you every vote against Labour was exclusively due to the British people not wanting to live in a Marxist dystopia, telling you it was exclusively because of Brexit, totally denying any possibility that the years of deceitful mass media narrative management that British consciousness was pummelled with day in and day out prior to the election had any impact whatsoever upon its results. Right. Sure guys. Persistent campaigns to deliberately manipulate people’s minds using mass media have no effect on their decisions at all.

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The talks to deliver Brexit will take forever and may well be Johnson’s Waterloo. Nothing about this has changed overnight. And a hard Brexit was ruled out by the Benn bill. Any attempts at going around it will end up in court again.

EU Executive Expects Mandate For Talks On Post-Brexit Trade Deal (R.)

The European Commission expect European Union leaders on Friday to grant it a mandate for talks with Britain on a future trade agreement, the head of the Commission Ursula von der Leyen told a news conference. Exit polls showed the Conservative Party of British Prime Minister Boris Johnson winning a clear majority in parliament, which European diplomats said meant there would be no more delays to Britain’s exit form the EU. “We are ready to negotiate whatever is necessary, and it will be important tomorrow to get the mandate for the steps from the council (of EU leaders),” von der Leyen said. “This will be the core of our debate tomorrow,” she said.

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Very long and detailed lecture by de Soto.

The Japanization of the European Union (Jesús Huerta de Soto)

Japan’s public debt is equal to 250 percent of its GDP. That is easy to say, but here in Europe we are criticizing Portugal and Italy, whose indebtedness is between 110 and 130 percent, and Greece, with a figure of 170 percent. That is, these countries are roughly half as indebted as Japan is at 250 percent of GDP. As for the annual deficit in the Japanese public accounts, it is not, for instance, the 3 percent established as a limit in the Eurozone nor even 4 or 5 percent. The annual deficit in the Japanese public accounts is 6 percent, while economic growth has nearly flatlined. In other words, it is a case of clear economic lethargy and very low inflation (which we will discuss later): interest rates around zero or even negative rates, inflation of 1 percent, and seemingly “full” employment (with a very high volume of hidden unemployment and ongoing losses in productivity and competitiveness).


To use a military term, Japan has already used up all its available interventionist ammunition, and not only has it not achieved anything, but the result has been counterproductive and disappointing. Everything that could be tried has been tried, and no palpable goal has been reached. And now the key question is: Why has nothing been achieved? And the answer is clear: because in all these decades, there have been no structural reforms to liberalize the economy, to liberalize the labor market, to introduce deregulation in the midst of suffocating interventionism at all levels, to lower taxes across the board, to reorganize and balance the public accounts, nor even to reduce public spending.

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Bankers screw up, Fed rescues. If we don’t cut that cycle, things can only get worse. As soon as some of this money would/could stabilize things somewhat, bankers would take more risk again.

Fed Will Flood Market With Gargantuan $500 Billion To Avoid Repo Crisis (ZH)

In previewing today’s Fed statement regarding repurchase operations, on Tuesday Curvature Securities repo expert Scott Skyrm said that he expects the Fed to announce a $50 billion (at least) term operation for Monday December 23 (double the current term ops) and a $50 billion (at least) term operation for Monday, December 30. This prediction was in response to Zoltan Pozsar’s warning that reserve levels are too low and the result would be a market crash that could spark QE4. Well, moments ago the NY Fed did publish it latest weekly “Statement Regarding Repurchase Operations” as expected laying out the Fed’s expected repo operations for the period December 13 – January 14… and it blew Skyrm’s expectations out of the water

According to the statement, the NY Fed will continue to offer two-week term repo operations twice per week, four of which span year end. In addition, the Desk will also offer another longer-maturity term repo operation that spans year end. The amount offered in this operation will be at least $50 billion, just as Skyrm expected. But there was more. Much more. In addition, to prevent a cascading year-end liquidity squeeze, Fed overnight repo operations will continue to be held each day, and just to be safe, the Fed will go to town by substantially expanding their size: On December 31, 2019 and January 2, 2020, the overnight repo offering will increase to at least $150 billion to cover the “turn” in a flood of overnight liquidity.

In addition, on December 30, 2019, the Desk will offer a $75 billion repo that settles on December 31, 2019 and matures on January 2, 2020. And just in case that’s not enough, the NY Fed’s markets desk also added that it “intends to adjust the timing and amounts of repo operations as needed to mitigate the risk of money market pressures that could adversely affect policy implementation, consistent with the directive from the FOMC.” What the Fed means is that in addition to expanding the sizes of its “turn” overnight repos to $150 billion, the Fed will conduct a total of nine term repos covering the year-end turn from Dec 16 to Jan 14, 8 of which will amount to $35BN and the first will be $50BN, for a total injection of a whopping $365 billion in the coming month.

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Well, we should see it in the tariffs announced?!

Terms Of US-China ‘Phase One’ Trade Deal Will “Never Be Made Public” (ZH)

There was much rejoicing and buying of stocks when Trump tweeted, to much fanfare and bombast early this morning, that he is “Getting VERY close to a BIG DEAL with China. They want it, and so do we!.” Sure enough, just a few hours later, there was a deal. Or was there? Because whereas we now know that the US & China have agreed to a Phase One deal on Paper, and Trump signed off on it… nobody will ever know what’s in the actual deal, even once we pass it! Here’s what we do know: according to Fox Business correspondent Edwards Lawrence, China “verbally agreed to buy $50b in agriculture, but that will not be in writing.” In fact it appears that nothing will be.

Also, the deal supposedly includes intellectual property protections, something the US has been asking for as a core demand. Needless to say, a Chinese IP concession will most certainly not be in writing too. Other parts of the deal include “increased access to the financial services market. There is language where the Chinese agree not to manipulate their currency. There is enforcement written into the agreement. Dec 15th tariffs do not go forward.” Perhaps most important for traders is that this is the end of the overnight “trade deal optimism” rally: phase two of the trade deal will “begin after 2020 elections.” Which means a whole year without Trump tweets that a deal is very close and that China is dying to do it.

Yet for all of the above, here’s the most mindboggling part. Lawrence said that the Chinese have requested that the language of the trade deal will never be made public. That’s right – there is (supposedly) a “deal”, written on paper somewhere, specifying certain terms, and signed by certain US and Chinese presidents. And nobody will ever see what that deal actually states. Effectively, the Phase One trade deal “could” be nothing more than a market manipulating blank piece of paper, and since China has only pledged to do something – which nobody will know as it is not written – and since China has not committed contractually in the court of public opinion, it will have absolutely no incentive to abide by the Phase One “deal”

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Tulsi, too, needs to focus on “new” media. It’s where people get their news.

Tulsi Gabbard Takes No Prisoners In DNC Warfare (LN)

Rep. Tulsi Gabbard (D-HI), the outspoken, independent thinker from Hawaii running for the loftiest perch in the land, has just said “no” to taking the next Democratic presidential primary debate stage. This signals either a surrender or a strategic end-run around the field. Yes, we’ve been down this road before. It is the same sentiment she expressed prior to the last debate; although she threatened to boycott the circus, she did qualify, show up, and rebuke the other candidates and the Democratic Party. Gabbard has been Public Enemy #1 in those circles since. Instead of playing into the cemented narrative, Tulsi, who has not so far reached the conditions imposed for participation in the next round, is not wasting her time.

As the sixth platform for national domination looms, Gabbard tweeted a different plan, saying: “For a number of reasons, I have decided not to attend the December 19th ‘debate’ — regardless of whether or not there are qualifying polls. I instead choose to spend that precious time directly meeting with and hearing from the people of New Hampshire and South Carolina.” Whether her bold decision is based on not quite reaching the necessary baseline requirements, or because she has had enough of the game playing, Tulsi seems indifferent to striving for inclusion. And we all know Gabbard is not one to tread water in the shallow end of the pool when a good, strong crawl will cover more territory.

[..] The DNC was insistent that its criteria for inclusion have been fair and balanced. Just ask the committee’s spokeswoman Xochitl Hinojosa, who responded: “This has been the most inclusive debate process with more women and candidates of color participating in more debates than billionaires. We are proud of this historic and diverse field with 20 candidates participating in the first two debates and at least 10 candidates in each debate after that.” What’s ironic is that no people of color – because of the strident stipulations imposed – will be at the Dec. 19 debate hosted by PBS NewsHour and Politico at the Loyola Marymount University in Los Angeles. PBS is set to broadcast the debate, and most likely, fewer people will watch the event than Gabbard can reach by holding town halls or meet and greets. Perhaps she’s on to something, after all.

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Both American and Southwest now target April.

Boeing Scuttles Timeline For 737 MAX Return After CEO Meets With FAA (R.)

Boeing on Thursday abandoned its goal of winning approval this month from the Federal Aviation Administration to unground the 737 MAX after Chief Executive Dennis Muilenburg met with senior U.S. aviation officials. The announcement came after a congressional hearing on Wednesday in which numerous lawmakers prodded the FAA to take a tougher line with Boeing as it continues to review the plane that has been grounded since March [..] FAA Administrator Steve Dickson said on Wednesday he would not clear the plane to fly before 2020 and disclosed the agency has an ongoing investigation into 737 production issues in Renton, Washington. He added there are nearly a dozen milestones that must be completed before the MAX returns to service.

Approval is not likely until at least February and could be delayed until March, U.S. officials told Reuters. Muilenburg and Boeing’s commercial airplanes chief, Stan Deal, met with Dickson and “committed to addressing all of the FAA’s questions,” the company said, adding it will work to support the agency’s “requirements and their timeline as we work to safely return the Max to service in 2020.” Dickson told Muilenburg, according to an email sent to lawmakers by the FAA, that “Boeing’s focus should be on the quality and timeliness of data submittals for FAA review. He made clear that FAA’s certification requirements must be 100% complete before return to service.”

[..] Separately, American Airlines said on Thursday it was extending cancellations of 737 MAX flights through April 6. American, the largest U.S. airline, had previously canceled about 140 flights a day through March 4 and now expects to resume 737 MAX passenger flights on April 7. Gary Kelly, the CEO of Boeing’s largest 737 MAX customer, Southwest Airlines, said he was “concerned” about what Boeing decides to do with its production line. Southwest was supposed to have 75 MAX jets in service this year and, like other airlines, it has had to cancel routes and scale back growth plans as it operates a slimmer fleet. Kelly said it is “likely” the airline will again need to push back its restart date from March.

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Losses keep piling up.

Qantas Selects Airbus Over Boeing For World’s Longest Flights (R.)

Australia’s Qantas Airways picked Airbus over Boeing as the preferred supplier for jets capable of the world’s longest commercial flights from Sydney to London, dealing the U.S. planemaker its latest setback this year. The choice of up to 12 A350-1000 planes fitted with an extra fuel tank for flights of up to 21 hours cements Airbus as the leader in ultra-long haul flying globally at a time when Boeing is battling delays on its rival 777X program and a broader corporate crisis following two deadly 737 MAX crashes. The Qantas flights would begin in the first half of 2023, but remain subject to the airline reaching a pay deal with pilots, who would need to extend their duty times to around 23 hours to account for potential delays and switch between flying the A350 and the airline’s current A330 fleet.


A final decision on an order is expected in March, the airline said on Friday. Qantas Chief Executive Alan Joyce said the airline “had a lot of confidence” in the market for non-stop services from Sydney to London and to New York based on two years of flying non-stop from Perth to London, where it has achieved a 30% fare premium over one-stop rivals in premium classes. “The A350 is a fantastic aircraft and the deal on the table with Airbus gives us the best possible combination of commercial terms, fuel efficiency, operating cost and customer experience,” he said.

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Dec 122019
 


Harris&Ewing President Hoover lights Nation’s Capital community Xmas tree Dec 24 1929

 

Why Is Jeremy Corbyn Seen As So Unelectable (Abc.au)
Ideology or Popularity: How Will Britain Vote? (CP)
The Steele Dossier Was Always a Joke (Taibbi)
The Hidden Hand (Faddis)
The Global Auto Market Collapse (ZH)
EU Lauds New Green Deal As Europe’s ‘Man On Moon Moment’ (DW)
“Afghanistan Papers” May Be A Game Changer For Tulsi Gabbard (IDS)
Vatican Caught Using Charity Donations To Cover Budget Shortfalls (ZH)
‘She Was So Dangerous’: Where In The World Is The Ghislaine Maxwell? (G.)
Assange’s Father Hopeful Of Son’s Release (9News)

 

 

Because of articles like this?! Because of how the BBC reports on the election?

Why Is Jeremy Corbyn Seen As So Unelectable (Abc.au)

Jeremy Corbyn is railing against “cuts, closures and poverty”. He’s campaigning to build more homes, and to fight fewer wars. He’s condemning the Tories for creating a “divided and unequal society”. But these are snippets not from his 2019 bid for Downing Street. They were his slogans in 1983, when he first ran for Parliament.The simple fact is the Labour leader has never changed his views. In the late 1970s and 1980s he and his staunch left-wing colleague John McDonnell, now the shadow chancellor, promised a revolution to upend the Western capitalist order. And yet, in 2015, as he was fighting to take over the leadership of the party, he was pledging the same: “Capitalism is in its death throes!”


It’s not mere sloganeering. His policy agenda over the past year has been: renationalise British utilities and trains, cap all wages, and force large companies to transfer 10 per cent of their equity to their employees. It says something about the depths of the austerity cuts in Britain that Mr Corbyn was not only backed into the Labour leadership, but went on to gain the largest increase in the party’s share of the vote in the 2017 election since World War II. And in the torrid political climate that followed, many would have expected Labour to romp home this time around. Over the past three years, the Conservative Party has imploded, with grave wounds struck to much of its credibility. Once Theresa May was torn down and replaced by Boris Johnson, a man with a public reputation as a liar, perhaps in any other generation of politics Labour would have been a shoo-in. But this time around, Mr Corbyn has been found deeply unelectable.

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The antisemite slur has worked miracles. Ley me repost the graph that shows 0.08% of Labour members are.

Ideology or Popularity: How Will Britain Vote? (CP)

It’s not news that Jeremy Corbyn isn’t a popular figure. It’s also not news that Jeremy Corbyn’s policies are hugely popular with the British public. Why should the first of these appear to matter more than the second? [..] The secret to the Tories’ possible success seems to be to focus less on the issues, and not at all on their own leader (who can’t be bothered to turn up for an interview or a debate). Instead, they are focusing on Labour’s unpopular leader. And the odd thing is that it seems to be working. The muckraking includes calling Corbyn an anti-semite, but it doesn’t stop there. (Somehow the fact that Boris Johnson has a habit of making racist comments is irrelevant; Labour is an anti-racist party and therefore must be held to a higher standard.)

A new book by Tom Bower paints a portrait of a power hungry anti-semite who regularly hangs out with Muslim extremists. Anyone with an ounce of sense will struggle to find the Labour leader in this description; for his part Bower had the sense not to source his allegations so there’s no way to check up on which of these might be true and which are blatant fabrications. For anyone interested, Peter Osborn has a thorough debunking. The advantage of mudslinging is that it sometimes sticks. Many British voters can’t say exactly why they don’t like Corbyn, but they know that they don’t like him. Even if these allegations were defendable, Corbyn’s Labour party has effectively won the debate on austerity.


Both parties are promising to protect the NHS from privatization, but only one party is actually selling NHS data to private companies like Amazon. That should matter a lot more than whether or not the British public would like to go on holiday with Jeremy Corbyn. Whatever the outcome, this is one of the most fascinating elections on record. Arguments for the status quo – that the rich should see the biggest gains when capitalism works and the poor should pay when it doesn’t – aren’t working. Demonization of one’s opponents has always been a part of electoral politics, but in this election that’s pretty much the only tactic in play, at least for the Tories. Their victory would be a huge triumph of the British propaganda system. It would also be a huge failure for democracy.

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Just not a funny one.

The Steele Dossier Was Always a Joke (Taibbi)

The Guardian headline reads: “DOJ Internal watchdog report clears FBI of illegal surveillance of Trump adviser.” If the report released Monday by Justice Department Inspector General Michael Horowitz constitutes a “clearing” of the FBI, never clear me of anything. Holy God, what a clown show the Trump-Russia investigation was. Like the much-ballyhooed report by Special Counsel Robert Mueller, the Horowitz report is a Rorschach test, in which partisans will find what they want to find. Much of the press is concentrating on Horowitz’s conclusion that there was no evidence of “political bias or improper motivation” in the FBI’s probe of Donald Trump’s Russia contacts, an investigation Horowitz says the bureau had “authorized purpose” to conduct.

Horowitz uses phrases like “serious performance failures,” describing his 416-page catalogue of errors and manipulations as incompetence rather than corruption. This throws water on the notion that the Trump investigation was a vast frame-up. However, Horowitz describes at great length an FBI whose “serious” procedural problems and omissions of “significant information” in pursuit of surveillance authority all fell in the direction of expanding the unprecedented investigation of a presidential candidate (later, a president). Officials on the “Crossfire Hurricane” Trump-Russia investigators went to extraordinary, almost comical lengths to seek surveillance authority of figures like Trump aide Carter Page. In one episode, an FBI attorney inserted the words “not a source” in an email he’d received from another government agency.


This disguised the fact that Page had been an informant for that agency, and had dutifully told the government in real time about being approached by Russian intelligence. The attorney then passed on the email to an FBI supervisory special agent, who signed a FISA warrant application on Page that held those Russian contacts against Page, without disclosing his informant role. Likewise, the use of reports by ex-spy/campaign researcher Christopher Steele in pursuit of Foreign Intelligence Surveillance Act (FISA) authority had far-reaching ramifications. Not only did obtaining a FISA warrant allow authorities a window into other Trump figures with whom Page communicated, they led to a slew of leaked “bombshell” news stories that advanced many public misconceptions, including that a court had ruled there was “probable cause” that a Trump figure was an “agent of a foreign power.”

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Make sure it’s no longer hidden. Put the spotlight on Brennan and Clapper to start with.

The Hidden Hand (Faddis)

The essence of a coup, which some might refer to as covert action, is the hidden hand. One does not announce that a foreign power is overthrowing the government and installing a new government. One pulls strings as if from behind a curtain, making events that are all part of a carefully orchestrated plan appear disconnected, spontaneous and serendipitous. As I read through the recently released IG report for the second time, as someone with a great deal of experience in military and intelligence matters, I see that hand everywhere. Per the IG report, a single report is delivered to the FBI in the summer of 2016. It concerns a meeting between a cooperative contact of a foreign intelligence service and a junior level employee of the Trump campaign, George Papadopoulos.

The report relates what are frankly very amorphous comments by Papadopoulos concerning the Russian government and its alleged possession of information on Hillary Clinton. On any other day this report would command no attention whatsoever. The source in question has no track record of any kind with the FBI. Papadopoulos has been employed by the Trump campaign for perhaps 90 days at this point, and there is no reason to believe he has contacts of significance in the Kremlin. Not on this occasion. This one report from a foreign intelligence service goes directly to the top of the FBI. The Director himself, James Comey is briefed. A full investigation is launched. Multiple confidential human sources are tasked. Wiretaps are ordered. A task force is organized. Crossfire Hurricane is born.


There is a problem, though. This hand, perhaps because it is controlled by individuals who have made their bones riding desks in Washington, DC and not in the field running actual operations, is clumsy. The information regarding Papadopoulos provided the needed pretext to start an investigation, but most of the people who will now form the investigative team are not in on the plot. They will have to be led to the pre-ordained conclusion, so that it appears that they did so without outside interference. And these investigators have a pesky habit of actually doing their jobs.

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Bad for automakers and Big Oil. Other than that, though…

The Global Auto Market Collapse (ZH)

It is no secret that the auto market worldwide has been mired in recession that looks to not have any plans of decelerating anytime soon. We have covered, at length, the collapse of auto sales not only in the U.S., but in leading global markets like China and Europe over the last 18 months. We have also covered how the “silver lining” of EV sales and investment in electric vehicles, may not be enough to stoke a recovery in the industry, especially with major cities like Beijing starting to shy away from purchase subsidies. The contagion has spread, and a new article by Bloomberg includes four charts that show just how damaging the effects have been globally. The first shows that global auto sales peaked two years ago at slightly under 86 million on an LTM basis. In October, that number stood at 78 million, a decline of about 9%.

The second chart shows trends from across the globe, noting that since China’s market is so big, that it is been obscuring falling trends elsewhere in the world. The chart shows China, Asia ex-China, North America, Europe, Latin America and Africa/Middle East all in steep downtrends.

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Europe’s “new growth strategy.” Oh boy…

EU Lauds New Green Deal As Europe’s ‘Man On Moon Moment’ (DW)

The European Commission signed off on President Ursula von der Leyen’s “European Green Deal” on Wednesday in Brussels, with a promise of money for EU nations that are lagging behind. The European Green Deal will still need to be approved — by the leaders of the EU’s member states and the European Parliament — for the climate policies to be implemented into law. The climate change resolutions will be considered by the leaders of EU countries at their meeting in Brussels on Thursday. Von der Leyen, who has put climate issues at the center of her presidency, described the plan as Europe’s “new growth strategy.”


“We do not have all the answers yet, today is the start of a journey, but this is Europe’s man on the moon moment. The European Green Deal is very ambitious, but it will also be very careful in assessing the impact and every single step we’re taking.” Von der Leyen said an economic growth plan based on fossil fuels and pollution was “out of date and out of touch.” “The European Green deal is on one hand about cutting emissions, but on the other hand, about creating jobs and boosting innovation.”

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Can she stay out of the debate and still win?

“Afghanistan Papers” May Be A Game Changer For Tulsi Gabbard (IDS)

Three very interesting things happened today in Tulsi Gabbard’s campaign for the Democratic nomination for the US Presidency. First, there was a huge story in The Washington Post about the so-called “Afghanistan Papers,” which reveal thousands of pages of confidential interviews with hundreds of key US government officials telling how the Bush, Obama and Trump administrations lied to the American public about the prosecution of the 18-year US war in Afghanistan—how successive US administrations manipulated data about the war to paint a much rosier picture of US and Afghan government achievements throughout the conflict. How big is this story? Think “Pentagon Papers.” Daniel Ellsberg. Think Vietnam big.

The story should suck up a lot of oxygen over the next few weeks, and it is one that should produce some unusually positive coverage for Tulsi, given that the issue of the failures of US military interventionism overseas has been the primary focus of her campaign. The second interesting thing is the story has the potential to tie into another story involving a management consulting firm called McKinsey & Company that performed confidential contract work in Afghanistan and Iraq. The reason McKinsey could be relevant to Tulsi’s campaign is that one of her main rivals for the nomination, Pete Buttigieg, happened to work for McKinsey from 2007 to 2010. Pete has indicated that his stint with McKinsey involved working on “war zone economic development to help grow private sector employment” in Iraq and Afghanistan.


In plain language, Pete appears to have been part of broader effort by the US government to transform Afghanistan into some sort of a mini capitalist democracy—not unlike the silly US plan to create a Jeffersonian democracy in Iraq. Now, there may be nothing to the connection between the first and second stories. However, during Tulsi’s town hall this evening in Nashua, New Hampshire, it is curious that Tulsi specifically mentioned McKinsey in referencing how most of the hundreds of billions of US taxpayer dollars that have been spent in Afghanistan have not gone to fight terrorism but rather to enrich US defense contractors such as the “McKinsey group.” She very slyly slid in McKinsey and moved on.

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Gee, we’re surprised…

Vatican Caught Using Charity Donations To Cover Budget Shortfalls (ZH)

While Pope Francis has long preached about the ills of economic inequality and sins of capitalism, the Catholic church has been robbing Peter’s Pence to the tune of over $50 million annually to plug holes in their out-of-control budget – after paying over $3 billion in pedophile priest settlements around the world over several decades. According to the Wall Street Journal, most of the roughly $55 million the church takes in annually goes towards “plugging the hole in the Vatican’s own administrative budget, while as little as 10% is spent on charitable works.” “The little-publicized breakdown of how the Holy See spends Peter’s Pence, known only among senior Vatican officials, is raising concern among some Catholic Church leaders that the faithful are being misled about the use of their donations, which could further hurt the credibility of the Vatican’s financial management under Pope Francis.” -Wall Street Journal

Of note, Peter’s Pence is an annual collection event held every June, billed as a fundraising event for the needy. It is described as a “gesture of charity, a way of supporting the activity of the Pope and the universal Church in favoring especially the poorest and Churches in difficulty. It is also an invitation to pay attention and be near to new forms of poverty and fragility.” “A section of the website dedicated to “works realized” describes individual grants, such as €100,000 in relief aid to survivors of last month’s earthquake in Albania or €150,000 for those affected by cyclone Idai in southeastern Africa in March.” -WSJ


“The purpose of the Peter’s Pence Collection is to provide the Holy Father with the financial means to respond to those who are suffering as a result of war, oppression, natural disaster and disease,” according to the website of the US Conference of Catholic Bishops. Except that for at least the past five years, just 10% of the money collected (over $55 million in 2018) – actually goes towards the types of charitable causes advertised for the collection, according to ‘people familiar with the matter,’ who added that approximately 2/3 of the funds have been used to help plug the budget shortfall at the Holy See – which consists of the central administration of the Catholic Church as well as the global papal diplomatic network. Last year, the budget deficit reached around $78 million on total spending of around $334 million.

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The FBI know where she is.

‘She Was So Dangerous’: Where In The World Is The Ghislaine Maxwell? (G.)

Maxwell and Epstein’s relationship seems to have been complex. Sarnoff says Maxwell once told her she wanted very much to marry Epstein. “Maxwell is very clever,” Sarnoff says. “In spite of her personal insecurities, as a result of her father’s death and financial challenges, I believe she nevertheless knew exactly what she was doing when she agreed to solicit girls on his behalf. However, I don’t think that phase of their relationship began until she understood Epstein would not marry her.” Farmer says Maxwell told her they were married. In another interview, this time with the Miami Herald, which has doggedly investigated Epstein, Giuffre alleges Maxwell had asked her to have a child with Epstein and hand the baby over for Maxwell and Epstein to raise; she would be paid an allowance of $200,000 a month.

Ransome, who says she was kept for six months on Epstein’s private island and claims she was raped several times a day, said: “They were never like a couple. Jeffrey and Ghislaine were best friends, or like brother and sister. Never holding hands or kissing. And she wasn’t his employee.” When Maxwell found that Farmer had spoken out, she made threatening calls – Farmer says she has been in hiding “for many years”. “Ghislaine kept threatening my life. She found out where I was living, and she would send messages to me or I would get a call and I would have to move again. Most of her threats were veiled, like: ‘You better look over your shoulder because there’s someone coming for you.’ She told me she was going to burn all my paintings, my career was burned.” In 2015, Giuffre sued Maxwell for defamation, after Maxwell said she was lying about the allegations she had made.


The case was settled out of court and Maxwell began retreating from public view. She was no longer seen in public with Epstein after his 2008 conviction for soliciting an underage girl for prostitution. [..] Kaiser says he has not been able to serve Maxwell with legal papers “because she’s off hiding somewhere”. Does he have any idea where she is? “No, I wish I did. We’ve looked various places so far to no avail. We thought we had a lead in some compound in Colorado, a very good friend of hers, a wealthy family – we thought she might be there, but we’re not sure. I expect the FBI knows exactly where she is. They may be building a case. I don’t believe they’ve given up on pursuing some of [Epstein’s] enablers and I have to believe that would include Maxwell.”

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Is there a media shift? There does seem to be a small one in Oz politics.

Assange’s Father Hopeful Of Son’s Release (9News)

The father of Wikileaks founder Julian Assange is confident a tide of public opinion is turning in support of the Australian languishing in a UK cell. As Assange awaits an extradition hearing which could eventually result in him facing criminal charges in the US, his father John Shipton is campaigning for his diplomatic release. The 75-year-old has visited about eight countries this year raising support for his son’s release During that time his son has won increasing support from politicians on all sides both at home and overseas. The Australian group concerned about Assange’s health and potential extradition includes conservative MPs George Christensen and Barnaby Joyce, independent Andrew Wilkie and Green politicians.

“Basically the malice and spite demonstrated by the United Kingdom and Sweden is of concern to every Australian,” Mr Shipton told AAP. “We are working towards the government involving itself diplomatically to ensure Julian’s return home to Australia and the prosecution stopping immediately.” He said filmmaker James Ricketson and journalist Peter Greste were both brought back to Australia from Cambodia and Egypt respectively via diplomatic intervention and Assange’s case was no different. “There’s no difference whatsoever,” Mr Shipton said. Mr Shipton said the media played a part in a decline in support for Assange while he sought asylum in the Embassy of Ecuador in London for almost seven years.


“The mobbing and smearing (of Assange) is only possible with the permission, participation, of the media,” he said. “But it seems to have stopped and is reversing itself as the media realises their position is subsequently very tenuous. “What will happen if Julian is dragged away in a yellow jumpsuit with chains around him is the prestige of every journalist in the western world will fall to zero.” Despite the persistence of the UK and US and what he describes as “procedural malfeasance and abrogations of all Julian’s human rights”, Mr Shipton remains optimistic about his son’s release. “I think we’ll win,” he said.

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Dec 082019
 


Arthur Rothstein “Bank that failed. Kansas” May 1936

 

UK’s Johnson Ahead But Polls Suggest Majority Might Be Tough (R.)
Calls Grow To Stop Boris Johnson With Tactical Voting As Race Tightens (O.)
Patient Data From GP Surgeries Sold To US Companies (G.)
How The Democrats & Federal Reserve Ensured Trump’s Re-Election (Hamilton)
Tracking Every Presidential Candidate’s TV Ad Buys (538)
Trump: Giuliani To Deliver Report On Ukraine Trip To Congress, Barr (Hill)
Is Russia Overtaking The US In The Realm Of Strategic Bombers? (SF)
China Crude Oil Imports Hit Record High As Refiners Race To Use Up Quotas (R.)
US Government Drops Case Against Journalist Max Blumenthal (GZ)
Fire ‘Too Big To Put Out’ May Blanket Sydney In Smoke For Months (NW)

 

 

There are so many different polls with even more different results, you’d think they do it on purpose.

UK’s Johnson Ahead But Polls Suggest Majority Might Be Tough (R.)

Prime Minister Boris Johnson is heading into Britain’s election next week with a lead in opinion polls, but some of the surveys also suggest that his chance of winning a parliamentary majority could be too close to call. Four opinion polls published on Saturday put the lead of Johnson’s Conservative Party over the main opposition Labour Party at between eight and 15 points, five days before the Dec. 12 national election. At the lowest end of that range, Johnson cannot count on winning the majority in parliament he needs to take Britain out of the European Union by Jan. 31, especially if voters choose to put aside their usual allegiances to vote tactically over Brexit.

Polling firm Savanta ComRes said Johnson’s lead over Labour had shrunk to eight points from 10 in a previous poll published on Wednesday – the tightest margin of Saturday’s four surveys. Its head of politics, Chris Hopkins, said the final few days of the campaign could be crucial. “The margins are incredibly tight,” he said. “The Conservative lead over Labour dropping or increasing by one or two points could be the difference between a hung parliament and a sizeable Conservative majority.” The election pits Johnson’s plan to get Brexit done next month against Labour’s call for a second referendum on a new Brexit deal under its veteran socialist leader Jeremy Corbyn.

Opinion pollsters were embarrassed by Britain’s last election in 2017, when they under-estimated the size of Labour’s support which cost previous prime minister Theresa May her majority and threw Brexit into chaos. They also failed to predict the victory of the Leave campaign in the 2016 EU membership referendum. However, one poll, published before the 2017 election, by YouGov, was more accurate in predicting the number of seats won by each party. Known as an MRP poll – an acronym for its Multilevel Regression and Post-stratification model – it predicted 93% of results in individual constituencies correctly. The Sunday Times said a poll by Datapraxis, also using the MRP model and based on 500,000 online interviews, predicted that Johnson would win a majority of 38 in parliament next week, down from a projection of 48 two weeks ago.

https://twitter.com/i/status/1203590220173713409

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It doesn’t take that many votes.

Calls Grow To Stop Boris Johnson With Tactical Voting As Race Tightens (O.)

A cross-party alliance of opposition politicians has launched an 11th-hour appeal to anti-Tory voters to consider switching allegiance in Thursday’s general election, amid signs that a late surge of tactical voting in a few swing seats could deprive Boris Johnson of a majority in parliament. The calls from senior Labour, Liberal Democrat and SNP figures come as a major poll suggests Johnson’s likely majority has been cut in half in the last two weeks – from 82 a fortnight ago to just 40 with four days to polling day. The analysis of almost 30,000 voters, for the pro-EU Best for Britain campaign, also finds that tactical votes by as few as 40,700 people in 36 key seats could prevent Johnson from forming a majority government.

Without a majority, Johnson is unlikely to be able to deliver the central promise of the Tory campaign – “to get Brexit done” – as he will struggle to get enough MPs’ votes. The DUP, which agreed to prop up the Tories after the 2017 general election, is now fiercely opposed to Johnson’s Brexit deal. The special polling analysis concludes that if tactical voting keeps the Tories out in the three dozen seats, the Conservatives would have 309 MPs, Labour 255, the SNP 49, the Lib Dems 14, Plaid Cymru three and the Greens one. To guarantee a majority, a governing party needs 325 MPs.

Naomi Smith, Best for Britain’s chief executive, said: “This election is on a knife-edge, and, if enough Remainers hold their nose and vote for the candidate with the best chance of stopping the Tories, we’re heading for a hung Parliament and a final-say referendum.”

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Not sure this is the scandal it’s made out to be, but transparency is key.

Patient Data From GP Surgeries Sold To US Companies (G.)

Data about millions of NHS patients has been sold to US and other international pharmaceutical companies for research, the Observer has learned, raising new fears about America’s growing ambitions to access lucrative parts of the health service after Brexit. US drugs giants, including Merck, Bristol-Myers Squibb and Eli Lilly, have paid the Department of Health and Social Care, which holds data derived from GPs’ surgeries, for licences costing up to £330,000 each in return for anonymised data to be used for research. Campaigners working to protect the privacy of patients’ medical histories said they were concerned at the lack of transparency that surrounded the sale of licences and a lack of clarity about what the data was being used for.

The most recent accounts of the government organisation that issues the licences, Clinical Practice Research Datalink or CPRD, reveal it received more than £10m in revenue last year. “Patients should know how their data is used. There should be no surprises. While legitimate research for public health benefit is to be encouraged, it must always be consensual, safe and properly transparent,” said Phil Booth, coordinator of medConfidential, which campaigns for the privacy of health data. “Do patients know – have they even been told by the one in seven GP practices across England that pass on their clinical details – that their medical histories are being sold to multinational pharma companies in the US and around the world?”

[..] Last week, a leak of secret government papers about private discussions between UK and US officials over a post-Brexit trade deal showed that the “free flow of data” was a “top priority” for the US. America appears to be pressing for unrestricted access to Britain’s 55 million health records, which are estimated to have a total value of £10bn a year. A minute of one of the meetings says: “On data flows, the critical element highlighted by the US was agreement that no parties will restrict information.” Another US demand is for “data localisation” to be ruled out, meaning the data of NHS patients could be stored on cloud servers abroad.

Read more …

That and demographics. Much more from Hamilton and as usual, tons of graphs.

How The Democrats & Federal Reserve Ensured Trump’s Re-Election (Hamilton)

July 31…Debt Ceiling Deal – July 31st of this year, Senate Democrats carried President Trump’s budget deal eliminating the debt ceiling through July 31st of 2021. This after a majority of Trump’s House Republicans voted against the budget deal but House Democrats overwhelmingly passed it. And thus the debt ceiling was no more. Since July 31st, the Treasury has issued over $1 trillion in net new debt but that is just the start. Trump tweeted there would always be plenty of time to make budget cuts “later”.

July 31…Federal Reserve begins series of interest rate cuts – On July 31st, the Federal Reserve begins cutting rates and has cut rates from 2.4% to 1.55% or a 35% reduction on the cost of overnight intra-bank lending, the foundation of credit.

August 21.. Federal Reserve restarts QE – In August, the Fed ceased quantitative tightening (QT) and restarted quantitative easing (QE). The Federal Reserve balance sheet has expanded by over $300 billion in short order, with an $180 billion increase in Treasuries held. The supposed rationale for the QE restart, inadequate excess reserves or liquidity…

Excess Reserves Not Restarted – With all the new QE, hardly any of it has been added to bank excess reserves…just a paltry $16 billion out of the $306 billion in new currency digitally conjured.

Direct Monetization – That is $290 billion in new dollars directly in banks hands…and banks do what banks do, which is leverage those dollars by 5x’s to 10x’s (or more), resulting in…

Asset Explosion – Using the Wilshire 5000 as a proxy (as it represents all publicly traded US equities), US equities have risen $2.42 trillion over the 4 month period as all the new digitally conjured cash has been passed to large banks for the “assets” they held…or about a 8.5x the quantity of new “not QE” and “not excess reserves”.

[..] Debt creation by periods, 1960 through 2000, 2000 through 2008, and 2008 through 2019. Relatively stable corporate debt creation, collapsing mortgage debt, and surging federal debt. And collapsing mortgage debt and surging federal debt is only just getting started, because…

And finally, why mortgage debt won’t be rising anytime soon and all debt creation will be up to the federal government. The chart below shows the annual change in young (working age) versus elderly…a surging population of elderly versus huge deceleration of growth among the working age population.

Just a reminder, elderly earn and spend half as much as working age persons and “destroy money” via deleveraging while working age persons “create money” via undertaking new loans (debt). The current and future situation is one of collapsing credit and collapsing money creation as the growth of deflationary elderly overwhelms inflationary working age growth…and into that entirely predictable situation, steps the Federal government, Federal Reserve, and ludicrous politicians to serve the interests of the few at the expense of the many.

Read more …

Bloomberg.

Tracking Every Presidential Candidate’s TV Ad Buys (538)

Read more …

Wonder what he’s got.

Trump: Giuliani To Deliver Report On Ukraine Trip To Congress, Barr (Hill)

President Trump said that Rudy Giuliani, his personal attorney, will deliver a report to Congress and Attorney General William Barr about information he uncovered during his latest trip to Ukraine. “He’s going to make a report, I think to the attorney general and to Congress. He says he has a lot of good information. I have not spoken to him about that information yet,” Trump told reporters Saturday. “He has not told me what he found, but I think he wants to go before Congress … and also to the attorney general and the Department of Justice,” he added. “I hear he has found plenty.” Giuliani raised eyebrows this week when he traveled to Ukraine as the House conducts a whirlwind impeachment investigation into whether the president abused his power.


Democrats say Trump overstepped his bounds by pressuring Kyiv to investigate former Vice President Joe Biden on unfounded corruption allegations and disproven claims that Ukraine was involved in 2016 election meddling. During his trip, Giuliani met with multiple Ukrainian officials as he continued his campaign to convince American lawmakers Trump did nothing wrong. Photos from the visit showed the ex-New York City mayor meeting with a former Ukrainian diplomat who has propagated the unsubstantiated claim that Ukraine interfered in the 2016 election. He also met with Yuriy Lutsenko, a Ukrainian politician, former prosecutor general and important figure in the impeachment inquiry, who proposed a joint corruption investigation between the U.S. and Ukraine.

Read more …

Reading between the lines, what we see is America can only keep up by going to war and spending more with that as an excuse.

Is Russia Overtaking The US In The Realm Of Strategic Bombers? (SF)

In March 2018, Russia announced that it would completely overhaul its entire Tu-160 long-range strategic bomber fleet by 2030. According to Deputy Defense Minister Yuri Borisov, the entire fleet of Tu-160 bombers will be replaced with the newer Tu-160M2 version, in addition to heavy upgrades of all operational aircraft. All on-board radio-electronic equipment and engines will be replaced. Serial production of the Tu-160M2 will begin in 2023 and the plan is for it to remain a state of the art warplane for the next 40 years. The Russian Aerospace Forces intend to purchase no less than 50 such aircraft.

The first such warplane is to be delivered in 2021, with 3 more in 2023. Afterwards serial production will continue with 3 Tu-160M2s being produced per year. The Tupolev Tu-160 (NATO codename: Blackjack) is a long range, supersonic, variable geometry wing, strategic bomber -designed to penetrate sophisticated air defense systems at low altitude and supersonic speed. It is the Soviet counterpart to the US Air Force B-1B Lancer strategic bomber.

[..] Currently, the US operates three types of strategic bombers – the B-1B, the B-2, and the B-52. The US Air Force has 62 B-1Bs, out of which, according to data from August 2019, only 6 were fully operational, with the others being grounded or undergoing maintenance. They have been in service since 1985. The longest serving bomber in the US Air Force is the B-52A which was commissioned back in 1955. The existing fleet was upgraded to the B-52H Stratofortress, commissioned in 1961. It is planned for this warplane to be operated until 2050. As of June 2019, there were 58 B-52 bombers in operation, with 18 more in reserve.

The B-2 is the only stealth bomber in operation anywhere in the world. It was commissioned in 1993. Thef US Air Force operates 20 such warplanes. There is also the B-21 Raider stealth bomber in development by Northrop Grumman. The first test aircraft is being built in Northrop Grumman’s Palmdale, California, facility and has yet to make its maiden flight. The optimistic forecast is that the first bomber should enter service by 2025.

Read more …

Beijing actively encourages additional oil imports. If you don’t produce output now, you’ll be cut next year. Fill your teapot!

China Crude Oil Imports Hit Record High As Refiners Race To Use Up Quotas (R.)

China’s crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas. The world’s top oil buyer imported 45.74 million tonnes of crude, equivalent to 11.13 million barrels per day (bpd), according to data released by the General Administration of Customs on Sunday. That compared with 10.72 million bpd in October and 9.61 million bpd in November last year. For the first 11 months of 2019, China brought in a total of 461.88 million tonnes, or 10.09 million bpd, up 10.4% from the same period last year, the data showed. As the year draws to a close, private refineries, known as teapot refiners, are ramping up output to use up their crude import quotas for the year in order to be able to apply for more quotas next year.


[..] Total natural gas imports, including liquefied natural gas (LNG) and pipeline, in November rose 3.3% from the same period last year to 9.45 million tonnes, customs data showed. In the period of January-November, natural gas imports reached 87.11 million tonnes, up 7.4% from same period last year. On Monday, Russia started to transport pipeline gas from Siberia to northeastern China.

Read more …

Another failed coup.

US Government Drops Case Against Journalist Max Blumenthal (GZ)

The US government has dropped its bogus charge of “simple assault” against journalist Max Blumenthal, after having him arrested on a 5-month-old warrant and jailed for nearly two days. The Grayzone has learned that Secret Service call logs recorded during the alleged incident were either not kept or destroyed. The mysteriously missing evidence included print documents and radio recordings that may have exposed collusion between Secret Service officers operating under the auspices of the US State Department and violent right-wing hooligans in an operation to besiege peace activists stationed inside Venezuela’s embassy in Washington, DC.

Blumenthal, who is the editor of The Grayzone, was arrested at his home on October 25 by a team of DC cops who had threatened to break down his door. He later learned that he was listed in his arrest warrant as “armed and dangerous,” a rare and completely unfounded designation that placed Blumenthal at risk of severe harm by the police. The government’s case rested entirely on a false accusation by a right-wing Venezuelan opposition activist, Naylet Pacheco, that Blumenthal and Benjamin Rubinstein had assaulted her while they were delivering food to Venezuela’s embassy in Washington, DC in the early morning on May 8. (Rubinstein is the brother of journalist and Grayzone contributor Alexander Rubinstein, who was reporting from inside the embassy at the time.)

The Grayzone has reported extensively on the corruption of coup leader Juan Guaidó, whom Washington recognizes as “interim president” of Venezuela, as well as the scandals plaguing Guaidó’s “ambassador” to the United States, Carlos Vecchio. Vecchio personally presided over the weeks-long siege of Venezuela’s embassy in Washington, DC, stage-managing efforts by a mob of rabid right-wing activists to prevent peace activists from receiving deliveries of food and sanitary supplies. As The Grayzone reported, the Donald Trump administration has diverted USAID funding originally intended to assist Central American migrants to pay the salaries of Vecchio and his team in Washington.

[..] Lawyers representing Blumenthal and Rubinstein placed multiple and highly specified discovery requests to the prosecutor for Secret Service call recordings and reports logged on May 8 at the location of the embassy food delivery. The US prosecutor was unable to satisfy the request, verbally confirming that if the documents had existed, they no longer did. “This is highly unusual and highly notable, almost inexplicable in the ordinary course of operations that these records were not maintained and preserved,” said Carl Messineo, the counsel to Rubinstein and a co-founder of the Partnership for Civil Justice Fund. “Given the false nature of allegations and that they advanced a prosecution based on these it is really questionable that this information was not produced.”

Read more …

It’s getting out of hand. Australia has a huge water/moisture shortage.

Fire ‘Too Big To Put Out’ May Blanket Sydney In Smoke For Months (NW)

A wildfire blazing 37 miles northwest from Sydney, Australia has been determined to be “too big to put out,” leaving residents to evacuate and the city with the prospect of months of heavy smoke. The fire is currently 1,150 square miles across and is comprised of several fires merging into one. Called the Gospers Mountain mega blaze, 2,200 firefighters are reported to be out in the field battling the fire, with groups of Canadian and American firefighters said to be joining them soon. Walkabout Wildlife Park has evacuated hundreds of animals to keep them safe from the fire. But the Bureau of Meteorology declared that some of the fires were too big to extinguish and would only be put out when the country received a good rain.


Sydney may be blanketed in smoke for weeks—possibly months. Sydney has already been enduring higher smoke levels than normal, and hospital officials report a 10 percent increase in admissions. Health officials warn that those who inhale the smoke long term might see effects similar to smoking cigarettes. “A cigarette is basically a plant that we purposely inhale. And in bushfires, it’s another plant that we’re inhaling the smoke from, so it’s not surprising the health effects are actually quite similar,” said Associate Professor Brian Oliver, an expert in respiratory disease from the University of Technology, Sydney to the BBC. “We cannot stop these fires, they will just keep burning until conditions ease, and then we’ll try to do what we can to contain them,” said NSW RFS deputy commissioner, Rob Rogers to the ABC.

Read more …

 

 

 

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Dec 032019
 
 December 3, 2019  Posted by at 9:51 am Finance Tagged with: , , , , , , , , , , ,  11 Responses »


Arthur Rothstein Texas Panhandle Dust Bowl Mar 1936

 

There Is No More Accurate Way To Describe All That Than As A Coup (Kunstler)
Republicans Issue 123-Page Defense Of Trump (G.)
Barr Disputes Major Horowitz Finding Based On Durham, CIA Evidence (ZH)
Leaked NHS Papers ‘Put Online By Posters Using Russian Methods’ (G.)
As Trump Heads To London For NATO Summit, Warnings On British Election (R.)
Japan Preparing $120-$230 Billion Stimulus Package As Recession Risks Grow (R.)
Third Bond Default By Chinese Electronics Firm Within A Month (SCMP)
Virginia Giuffre In Plea To Public Over Prince Andrew Scandal (G.)
EU Leaders To Push For Climate Neutrality By 2050 (R.)
Small American Farmers Are Nearing Extinction (Time)
At Least 135,000 Children In Britain Will Be Homeless At Christmas (G.)

 

 

The discussions are about to heat up, with different sides drawing entirely different conclusions from the same “facts”. It’ll be a spectacle.

Jim Kunstler is not about to let up.

There Is No More Accurate Way To Describe All That Than As A Coup (Kunstler)

Then there is the “Whistleblower,” this would-be pimpernel of perfidy hiding behind Adam Schiff’s apron under the false assertion that he is entitled to everlasting anonymity. What an idea under our system of jurisprudence! In fact, contrary to Mr. Schiff’s public pronouncements, there is no law that states what he claims — one of several things Mr. Schiff can be called to account for. And that is even if you accept the dishonest proposition that the fugitive who started this fiasco even was a whistleblower, rather than a rogue CIA officer acting on explicitly illegal political motives to interfere in the 2020 election. The CIA, you must know, is forbidden by charter and statute from operating against American citizens in-country, including the president of the United States. Under the circumstances, the so-called “Whistleblower” might fairly be accused of treason.


Has anyone failed to notice that one of the “Whistleblower’s” attorneys, Mark Zaid, tweeted notoriously on January 30, 2017 that “Coup has started. First of many steps. #rebellion. #impeachment will follow ultimately. #lawyers.” Mr. Zaid later explained, “I was referring to a completely lawful process.” Yeah, sure. I think he meant a completely Lawfare process. Of course, the engineered “Whistleblower” escapade was only the latest (perhaps the last) chapter in the annals of nefarious events and actions carried out far-and-wide by several government agencies for three years, and by many officials working within them, and not a few freelance rogues in their service. There is no more accurate way to describe all that except as a coup. The authorities looking into all that have not been heard from yet. The portentous silence is making a lot of people in Washington edgy.

Read more …

View from the anti-Trump camp.

Republicans Issue 123-Page Defense Of Trump (G.)

Donald Trump’s actions towards Ukraine were “entirely prudent” and involved “no quid pro quo, bribery, extortion, or abuse of power”, according to a draft Republican report on last month’s impeachment inquiry hearings. Designed as a pre-emptive strike on an imminent report from the Democratic majority, the GOP document underlines how evidence presented at the hearings failed to shatter Republicans’ united front. It also provides a blueprint for House Republicans to defend the US president at Wednesday’s judiciary committee hearing and for their Senate counterparts to acquit him in a trial.

Democrats accuse Trump of attempting to bribe the Ukrainian president, Volodymyr Zelenskiy, by making a White House meeting and nearly $400m in military aid conditional on Ukraine announcing two investigations that would boost Trump politically. The 123-page Republican report was prepared for Devin Nunes, Jim Jordan and Michael McCaul, the ranking members on the House intelligence, oversight and foreign affairs committees, respectively. It directly contradicts the testimony of career diplomats and makes little attempt to get to grips with the devastating evidence of Gordon Sondland, the US ambassador to the European Union, who spoke about the existence of a quid pro quo, or Fiona Hill, former top Russia expert at the White House, who warned against falling for Moscow’s propaganda about Ukraine’s role in the 2016 election.

Instead it spins the affair as a Democratic plot. Its executive summary begins with the premise that nearly 63 million Americans from around the country elected Trump in 2016 but now 231 House Democrats in Washington are “trying to undo the will of the American people”. It accuses the party of seeking to impeach the president from day one. “They are trying to impeach President Trump because some unelected bureaucrats chafed at an elected President’s ‘outside the beltway’ approach to diplomacy,” it says.

Read more …

Durham knows things that Horowitz doesn’t. Expect an anti-Barr campaign.

Barr Disputes Major Horowitz Finding Based On Durham, CIA Evidence (ZH)

Attorney General William Barr will dispute a fundamental finding in the upcoming Inspector General report – namely that the FBI was justified in launching an operation Crossfire Hurricane, the agency’s official covert counterintelligence investigation into links between the Trump campaign and Russian officials, according to the Washington Post. While IG Michael Horowitz is said to have concluded that the agency had enough information to launch the probe on July 31, 2016 after Trump campaign aide George Papadopoulos repeated a rumor that Russia had dirt on Hillary Clinton, Barr has reportedly told associates that Horowitz does not know about – or did not include – potentially exculpatory evidence held by other US agencies such as the CIA, which could alter his report’s conclusion.

In July, Fox News reported that exculpatory evidence existed which the FBI failed to include in surveillance warrant applications in which Papadopoulos denies having any contact with the Russians, when he was in fact told about the ‘Clinton dirt’ byJoseph Mifsud, a mysterious Maltese professor (and self-professed member of the Clinton foundation) who has ties to George Soros’ Open Society Foundation. Many believe Papadopoulos was the victim of an entrapment scheme, by which Mifsud would seed him with information that Australian diplomat would later extract from him in a London bar, which made its way to the FBI – officially leading to the launch of Operation Crossfire Hurricane. And the exculpatory evidence? Downer – a Clinton ally – likely recorded Papadopoulos saying he had no Russian contacts.

Barr’s information also comes from a concurrent, ongoing investigation into the Obama DOJ conducted by Connecticut US Attorney John Durham. Part of Barr’s reluctance to accept that finding is related to another investigation, one being conducted by Connecticut U.S. Attorney John Durham, into how intelligence agencies pursued allegations of Russian election tampering in 2016. Barr has traveled abroad to personally ask foreign officials to assist Durham in that work. Even as the inspector general’s review is ending, Durham’s investigation continues. -Washington Post

Barr, through Durham, has been investigating Mifsud – who told Italian media “I never got any money from the Russians: my conscience is clear,” adding “I am not a secret agent.” The Maltese professor is currently MIA. As the Post’s Devlin Barrett (who spoke with former FBI lawyer Lisa Page) notes, Barr’s disagreement with Horowitz not only sets the stage for a showdown within the DOJ, it will spark partisan outrage among Democrats who have already accused the AG of being Trump’s personal lawyer.

Read more …

The anti-Trump camp, are we surprised?, is also the anti-Corbyn camp. But this is quite the stretch. Putting Russia in the headline of an article that says there is no proof that Russia is involved.

Leaked NHS Papers ‘Put Online By Posters Using Russian Methods’ (G.)

Leaked documents said by Labour to prove that the NHS was “on the table” in trade talks with the US were initially disseminated online by anonymous posters operating in a way similar to a Russian information operation known as Secondary Infektion, according to a social media research firm. A 19-page report published on Monday by the consultancy Graphika said that while it could not conclusively prove a Russian origin to the leak, the early distribution of the cache of files via Reddit, three German-language websites and an anonymous Twitter account reflected a method of operation seen repeatedly over recent years.


There is no suggestion either that the NHS documents, produced by Jeremy Corbyn at a dramatic press conference last week, were fake, but the Graphika investigation highlights an intriguing series of efforts to get the leak picked up more widely at the end of October and beginning of November. Ben Nimmo, the head of investigations at Graphika, said: “What we are saying is that the initial efforts to amplify the NHS leak closely resembles techniques used by Secondary Infektion in the past, a known Russian operation. But we do not have all the data that allows us to make a final determination in this case.”

Read more …

Can Trump damage Boris?

As Trump Heads To London For NATO Summit, Warnings On British Election (R.)

U.S. President Donald Trump leaves on Monday for a NATO summit in London, where he is under pressure from British Prime Minister Boris Johnson to resist the temptation to wade into the looming British election. As a presidential candidate in 2016 and then as president since early 2017, Trump has shown no restraint in pushing for Britain’s exit from the European Union and critiquing the politicians involved in the country’s long-running Brexit debate. But with Johnson leading polls as he faces Dec. 12 elections, the prime minister who is hosting the London NATO summit wants Trump to mind the guard-rails, putting Trump in the unusual position of being asked to avoid his normal impulse to comment on whatever he wishes.


Trump waded into the election in October by saying opposition Labour Party leader Jeremy Corbyn would be “so bad” for Britain and that Johnson should agree on a pact with Brexit Party leader Nigel Farage. Johnson’s pressure prompted the White House to stress, as a senior administration official said, that Trump “is absolutely cognizant of not, again, wading into other country’s elections.” That strategy could be put to the test as Trump faces reporters a number of times on the trip, including at a news conference on Wednesday.

Read more …

Abenomics continues unabated.

Japan Preparing $120-$230 Billion Stimulus Package As Recession Risks Grow (R.)

Japan is preparing an economic stimulus package worth $120 billion to support fragile economic growth, two government officials with direct knowledge of the matter said on Tuesday, complicating government efforts to fix public finances. The spending would be earmarked in a supplementary budget for this fiscal year to next March and an annual budget for the coming fiscal year from April. Both budgets will be compiled later this month, the sources told Reuters, declining to be identified because the package has not been finalised. While the package would come to around 13 trillion yen ($120 billion), that would rise to 25 trillion yen ($230 billion) when private-sector and other spending are included.


However, the spending could strain the industrial world’s heaviest public debt burden, which tops more than twice the size of Japan’s $5 trillion economy. And despite the headline size of the stimulus, actual spending would be smaller in the current fiscal year, and economists are not expecting much of a boost. “We expect this fiscal year’s extra budget to total around 3-4 trillion yen. We should not expect it to substantially push up the GDP growth rate,” said Takuya Hoshino, senior economist at Dai-ichi Life Research Institute. The 13 trillion yen includes more than 3 trillion yen from fiscal investment and loan programmes, as the heavily indebted government seeks to take advantage of low borrowing costs under the Bank of Japan’s negative interest rate policy.

Read more …

Just 2 weeks ago they announced a plan to sell a majority stake to the local government. How did that work out?

Third Bond Default By Chinese Electronics Firm Within A Month (SCMP)

Tunghsu Optoelectronic Technology has failed to make good on a bond – its third in less than a month – as the struggles point to poor corporate governance among Chinese companies. The maker of electronic display panels, which reported ample cash holdings of more than 18 billion yuan as of September, missed an interest payment on its 1.7 billion yuan (US$241 million) onshore bond due on Monday, according to an exchange filing. The latest default has cast doubt on whether Tunghsu could meet its obligations on a US$44 million bond maturing in June 2020, after it defaulted two notes totalling 3 billion yuan on November 18.


Tunghsu is the latest in a growing list of Chinese defaulters this year, as banks have tightened their funding to private companies amid China’s slowest economic growth rate in nearly three decades. As of November 12, 45 Chinese corporate issuers had defaulted on interest or principal payments on bonds totalling 85.16 billion yuan, compared with 39 defaults on bonds worth 102.48 billion yuan for all of 2018, according to Reuters. Falling export orders as a result of the US-China trade war has strained the cash flow of manufacturers, while Beijing’s crackdown on shadow banking has also cut off alternative sources of capital for many small companies.

Read more …

Charles to the rescue?

Virginia Giuffre In Plea To Public Over Prince Andrew Scandal (G.)

A beleaguered Prince Andrew faced fresh embarrassment after his accuser Virginia Giuffre, who claims she was trafficked as a teenager to have sex with him, appeared on television to implore the British public to “not accept this as being OK”. In her first UK broadcast interview, Giuffre repeated allegations she had sex with the prince when she was aged 17 on the instructions of Ghislaine Maxwell, a socialite and close friend of the US financier and sex offender, Jeffrey Epstein, who killed himself in August. The prince, 59, whose relationship with Epstein has led to him standing down from public duties, has consistently and categorically denied the allegations, which Buckingham Palace said were “false and without foundation”.


BBC Panorama said it had uncovered a 2015 email from Andrew to Maxwell asking for help dealing with the allegations by Giuffre, previously Virginia Roberts. He wrote: “Let me know when we can talk. Got some specific questions to ask you about Virginia Roberts,” to which Maxwell replied: “Have some info. Call me when you have a moment.” In the interview that was broadcast on Monday, Giuffre said: “I implore the people in the UK to stand up beside me, to help me fight this fight, to not accept this as being OK. “This is not some sordid sex story. This is a story of being trafficked. This is a story of abuse and this is a story of your guy’s royalty.”

Read more …

When someone says 2050, ignore them.

EU Leaders To Push For Climate Neutrality By 2050 (R.)

European Union leaders meeting in Brussels next week will push to agree to put the bloc on net-zero greenhouse gas emissions by 2050, their draft joint statement showed on Monday, heralding a bitter fight looming at their gathering. The Dec. 12-13 summit of the bloc’s national leaders will aim to endorse “the objective of achieving a climate-neutral EU by 2050”, according to the document seen by Reuters. Previous attempts, however, were blocked by Poland, Hungary and the Czech Republic, who rely on highly polluting coal. They have previously said they oppose climate neutrality by 2050 for fear cutting greenhouse emissions will stifle their economies.


To convince the reluctant camp, the draft summit conclusions refer to “just and socially balanced transition”, the European Investment Bank’s announcement to unlock 1 trillion euros worth of green investment until 2030, the need to ensure energy security and competitiveness vis-à-vis foreign powers not pursuing such climate goals. The draft, prepared in advance of the leaders’ discussions, may still change. But it will eventually need unanimous backing of all EU national leaders for there to be agreement at the summit. The bloc’s new executive European Commission also aims to push for climate neutrality by mid-century and wants to make the EU’s 2030 climate targets more ambitious.

Read more …

You want your food good or cheap?

Small American Farmers Are Nearing Extinction (Time)

In the American imagination, at least, the family farm still exists as it does on holiday greeting cards: as a picturesque, modestly prosperous expanse that wholesomely fills the space between the urban centers where most of us live. But it has been declining for generations, and the closing days of 2019 find small farms pummeled from every side: a trade war, severe weather associated with climate change, tanking commodity prices related to globalization, political polarization, and corporate farming defined not by a silo and a red barn but technology and the efficiencies of scale. It is the worst crisis in decades. Chapter 12 farm bankruptcies were up 12 percent in the Midwest from July of 2018 to June of 2019; they’re up 50 percent in the Northwest. Tens of thousands have simply stopped farming, knowing that reorganization through bankruptcy won’t save them. The nation lost more than 100,000 farms between 2011 and 2018; 12,000 of those between 2017 and 2018 alone.


Farm debt, at $416 billion, is at an all-time high. More than half of all farmers have lost money every year since since 2013, and lost more than $1,644 this year. Farm loan delinquencies are rising. Suicides in farm communities are happening with alarming frequency. Farmers aren’t the only workers in the American economy being displaced by technology, but when they lose their jobs, they also ejected from their homes and the land that’s been in their family for generations. “It hits you so hard when you feel like you’re the one who is losing the legacy that your great-grandparents started,” said Randy Roecker, a Wisconsin dairy farmer who has struggled with depression and whose neighbor Leon Statz committed suicide last year after financial struggles forced him to sell his 50 dairy cows. Roecker estimates he’s losing $30,000 a month.

Read more …

Third world. Rich ruling class, and then the rest.

At Least 135,000 Children In Britain Will Be Homeless At Christmas (G.)

At least 135,000 children will be homeless and living in temporary accommodation across Britain on Christmas day – the highest number for 12 years – according to the housing charity Shelter. It estimates that a child loses their home every eight minutes – 183 children per day. At this rate, 1,647 children will become homeless between now and the general election on 12 December, and more than 4,000 by 25 December. London has the highest concentration of homeless youngsters, up 33% since 2014. About 88,000 children were homeless and in temporary accommodation in the capital at the beginning of 2019 – equivalent to one in every 24 children.


The capital has 26 of the 30 British local authorities with the highest rates of homeless children. Four councils – Haringey, Newham, Westminster and Kensington & Chelsea – had homeless rates of one in every 12 children. Outside London, the places worst affected were: Luton (one in 22 children); Brighton & Hove (one in 30); Manchester (one in 47); and Slough (one in 53). In Wales, one in 412 children are homeless, up 28% since 2015, while in Scotland one in 160 children were homeless, up 64% since 2014.

Read more …

 

 

 

 

 

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Nov 302019
 
 November 30, 2019  Posted by at 10:10 am Finance Tagged with: , , , , , , , , ,  9 Responses »


Dorothea Lange Hoe culture in the South. Poor white, North Carolina July 1936

 

China Shouldn’t Risk West’s Large Monetary Easing Of Last Decade – PBOC (SCMP)
EU Watchdog Tells Banks To Get A Grip On Costs, Merge Or Close (R.)
But US “Energy Independence” is More Complicated (WS)
Black Friday Is Dying (ZH)
Democrats Have A Better Choice Than Impeachment (CNN)
Adam Schiff’s Goat Rodeo (Jim Kunstler)
Telling The Truth Becomes A Crime (RT)
Jeffrey Epstein Is Dead But His Legal Legacy May Have Years To Run (G.)
Report On Jeremy Corbyn Inaccurate, Says BBC Trust (BBC)

 

 

China supports in different ways.

China Shouldn’t Risk West’s Large Monetary Easing Of Last Decade – PBOC (SCMP)

The economic problems created by the aggressive monetary policy easing undertaken by Western central banks in response to the global financial crisis a decade ago are a clear warning to China not to go down the same path to combat its current economic slowdown, according to an official from the central bank. China, instead, should use the institutional advantages unique to China to address the country’s economic problems, Zhang Xuechun, deputy director of the People’s Bank of China’s research bureau, said on Friday. The central bank is under continuous domestic pressure to cut its interest rates further and faster to help stabilise economic growth, which is expected to drop below 6 per cent in the fourth quarter this year and fall further next year.


Coming only days ahead of the Central Economic Work Conference, which will set the government’s economic policy priorities for 2020, the comments send the strong signal that the PBOC believes an expansion of fiscal policy and continued economic restructuring, rather than monetary loosening, should play the leading roles in combating the economic slowdown next year. “We must learn the lesson from developed countries that relied heavily on quantitative easing,” said Zhang, citing asset bubbles, the widening of the wealth gap and rising international currency and trade competitions as the negative consequences of those policies. “When we face downward [economic] pressures from shifting to high-quality growth and external uncertainties, monetary policy should not leap forward alone,” Zhang said.

Read more …

Not looking good. Let’s do another bailout.

EU Watchdog Tells Banks To Get A Grip On Costs, Merge Or Close (R.)

Banks in the European Union could close branches, merge or leave the market to reverse a “bleak” outlook for profitability, the bloc’s banking watchdog said on Friday. The European Banking Authority’s (EBA) sixth annual dive under the bonnet of top banks found that the average capital ratios for lenders – a key measure of financial health – was 14.4% in June, little changed from the previous year. The percentage of poorly performing loans on bank books has fallen to an average of 3%, down from 3.6% a year earlier, but the return on equity worsened to 7% from 7.2%, still below the average cost of equity, the EBA said. “There are hardly any clear catalysts for an improvement in bank profitability that appear on the horizon,” the EBA said in its report.


“Low profitability limits banks’ capacity to generate capital organically and to fund loan growth as well as to pay dividends.” Only 28% of listed EU banks trade with a price-to-book ratio of more than 1 or where market value exceeds net assets, the EBA said. The equivalent for U.S. banks is 81%. Banks need to streamline operating expenses to lift profitability, such as by merging with a rival or leaving the market if they can’t generate sustainable profits, it said. Deutsche Bank is among European lenders seeking to boost their financial health and this week sold $50 billion in unwanted assets to Goldman Sachs as part of a lengthy restructuring.

Read more …

Shale distorts.

But US “Energy Independence” is More Complicated (WS)

US exports of crude oil and petroleum products – this includes gasoline, diesel, jet fuel, naphtha, and many others – exceeded imports in September by 89,000 barrels a day, the EIA reported today, and so the US became a “net exporter” of crude oil and petroleum products for the first time on a monthly basis in the EIA’s data going back to 1973:

The US has exported petroleum products – gasoline, diesel, heating oil, naphtha, propane, etc. – for a long time. This is the business some refineries are in. They buy crude oil from wherever they can get it, including other countries, and sell refined product to customers in the US and other countries. For example, California produces some crude oil and gets some crude oil by tanker from Alaska and some by oil train across the Rockies. But there is no oil pipeline across the Rockies. So refineries in California, including in the San Francisco Bay Area, also import some of their crude oil from other countries, refine it, and then sell gasoline, diesel, and other petroleum products to other countries largely in Latin America.


Texas, the largest oil-producing state in the US, faces a still more complex landscape, with its enormous crude-oil production, its large refinery operations, pipelines connecting oil producers in the state to refineries in other states, and its import and export terminals, via which it both imports and exports various grades of crude oil and all kinds of petroleum products, depending on market conditions and other factors. In other words, some of the crude oil that the US imports is then re-exported as value-added finished petroleum products, such as motor gasoline and diesel. And so imports of crude oil exceed exports of crude oil, given that the US imports some of the crude oil for the purpose of re-exporting it as refined products. But this difference between imports and exports of crude oil has been plunging as well, to 3.4 million barrels per day in September:

[..] US production of crude oil and petroleum products has spiked from 6.8 million barrels per day in 2008 to 17.5 million barrels per day in September, largely due to the ramp-up in shale oil production. Shale wells can also produce large quantities of gases that are counted separately as gas. These production figures here are just crude oil and petroleum products:

In 2019 so far, at least 33 oil and gas drillers in the US have filed for bankruptcy. Since January 2015, over 200 have filed for bankruptcy. Others are now jostling for position at the bankruptcy filing counter.

Read more …

What are we going to do without consumerism?

Black Friday Is Dying (ZH)

Black Friday is undergoing a transformative period where consumers are ditching brick-and-mortar stores for online shopping. Reuters noted Friday, that traffic volumes at stores across the country on Thanksgiving eve were soft — and it’s likely the trend will continue through the weekend. Another report via KeyBanc Capital Markets found traffic “somewhat muted at malls” during Thanksgiving and Black Friday. KeyBanc’s analyst Edward Yruma attributed the decline to more online sales. KeyBanc’s note said Gap, Banana Republic, Express and Zara offered 50% discounts, but that still wasn’t enough to attract shoppers. Though traffic was steady at Walmart, Target, and Lululemon.

As of noon, Salesforce.com observed online sales of $7.4 billion on Black Friday, 16% higher than a year ago. “It speaks to the fact that we’re amidst this digital transformation that’s happening for both the consumers and the retailers,” Rob Garf, vice president of industry strategy and insights at Salesforce, told Bloomberg. Some other possible reasons behind the weak turn out could be due retailers already offered an entire month of aggressive sales leading up to Black Friday. There are often limitations of how much a consumer can purchase as credit card rates soar to 25-year highs. The National Retail Federation (NRF) polled consumers earlier this month who said most of their shopping has already been done, many of whom took advantage of the deals leading up to Black Friday.


[..] There’s also evidence that the US economy is rapidly slowing and the US consumer is pulling back on spending as a recession could be nearing. The chart below shows the industrial recession has likely transmitted weakness into the consumer, which could produce a rather weak holiday spending period.

Read more …

After 1001 reports on impeachment, CNN changes course.

Democrats Have A Better Choice Than Impeachment (CNN)

The evidence is mounting daily that President Donald Trump may have committed an impeachable offense in withholding aid to Ukraine as he sought an investigation that would aid his reelection campaign. But with our polarized political system and split party control of Congress — many think impeachment is inevitable in the House, but conviction unattainable in the Senate — we need an alternative to impeachment. And luckily we have one. After amassing the testimony and preparing for the articles of impeachment, the House could change course and introduce a resolution for censure of the President. In it, they would recite all the behavior that would go into articles of impeachment.

But instead of Trump’s removal from office as a remedy, it would essentially place the impeachment process in abeyance until the House can determine whether it will be able to hear from additional key witnesses. This is a viable option for many reasons. As the Democrats make their point that the President’s behavior is unacceptable, the Republicans and the President continue to say that this impeachment inquiry is just another desperate attempt by Democrats to get Trump out of the White House after Robert Mueller’s investigation. So far, several key witnesses have refused to come forward to testify, and some, like John Bolton, have gone to federal court to determine if they must comply with congressional subpoenas over and above a White House order not to testify. A federal judge ruled this week that there is no blanket immunity for officials from a congressional subpoena, but the administration is appealing the ruling.


This will take time that the House does not seem willing to wait for. Even more concerning, though, is that after this process runs its course, it will be extremely difficult as a practical matter for the House to go through an impeachment process for anything the President does in the future, at least in the current term. It is unlikely the populace would stand for another round of divisive impeachment proceedings, as an ongoing matter, unless there is an extremely serious and obvious charge. [..] A censure would issue a formal warning: This is unacceptable behavior for a president, but we will not remove you from office this time. However, pending further testimony or should there be any instance of further wrongdoing, the appropriate remedy is removal from office. Ideally, the Senate would also adopt a resolution of censure, though support for Trump and the politics of the upcoming election would suggest that that is highly unlikely.

Read more …

“..the US Intel Community organized a coup to overthrow the improbable President Trump.”

Adam Schiff’s Goat Rodeo (Jim Kunstler)

I wonder if some great fatigue of the mind has set in among the class of people who follow the news and especially the tortured antics of Rep. Adam Schiff’s goat rodeo in the House intel Committee the past month. I wonder what the rest of congress is detecting among its constituents back home during this holiday hiatus. I suspect it is that same eerie absence of chatter I noticed, and what it may portend about the nation’s disposition toward reality. The dead white man Arthur Schopenhauer (1788 – 1860) famously observed that “all truth passes through three stages: first, it is ridiculed; second, it is violently opposed; and third, it is accepted as self-evident.”

America has been stuck in stage two lo these thirty-six months since Mr. Trump shocked the system with his electoral victory over She-Whose-Turn-Was-Undoubted, inciting a paroxysm of rage, disbelief, and retribution that has made the Left side of the political transect ridiculous, and repeatedly, ignominiously so, as their fantasies about Russian “collusion” and sequential chimeras dissolve in official proceedings. The astounding failure of Mr. Mueller’s report did nothing to dampen the violent derangement. There was no rethinking whatsoever about the terms-of-engagement in the Left’s war against the populist hobgoblin. The solidarity of delusion remained locked in place, leading to Mr. Schiff’s recent antics over his false “whistleblower” and the enfilade of diplomatic flak-catchers tasked to ward off any truthful inquiry into events in Ukraine.


But then, with the Thanksgiving shut-down, something began to turn. It was signaled especially in the Left’s chief disinformation organ, The New York Times, with a week-long salvo of lame stories aimed at defusing the Horowitz report, forthcoming on December 9. The Times stories were surely based on leaks from individuals cited in the IG’s report, who were given the opportunity to “review” the briefs against them prior to the coming release. The stories gave off an odor of panic and desperation that signaled a crumbling loss of conviction in the three-year narrative assault on the truth — namely, that the US Intel Community organized a coup to overthrow the improbable President Trump.

Read more …

“If Assange gets extradited to the United States and if he gets punished for exposing the truth, then essentially what’s happening is that telling the truth becomes a crime.”

Telling The Truth Becomes A Crime (RT)

An array of public figures, among them a retired British ambassador and the UN Special Rapporteur on Torture, again threw their weight behind Julian Assange, predicting the launch of a massive campaign in his support next year. Pundits, public figures and Julian Assange’s supporters flocked to an event called ‘Free the Truth’ in London. The Ruptly video agency filmed the exhibition of posters decrying Assange’s imprisonment, as well as artworks inspired by him. “So many activists are coming together at a time when I feel there’s been a real change in public sentiment,” Craig Murray, a former UK ambassador to Uzbekistan who now campaigns for the renowned publisher, commented.


Despite the lack of coverage or biased coverage in mainstream media, there is now an understanding that Julian is being extradited to the United States for nothing except for publishing the truth. He’s confident that next year “we will see one of the largest campaigns [in support of Assange] of our time.” It’s extremely important to draw attention to the founder of the WikiLeaks website, because “we are about to set a precedent,” warned Nils Melzer, a United Nations Special Rapporteur on Torture. If Assange gets extradited to the United States and if he gets punished for exposing the truth, then essentially what’s happening is that telling the truth becomes a crime.

Read more …

Years more of Prince Andrew. They’re going to ship him off to Australia or some place.

Jeffrey Epstein Is Dead But His Legal Legacy May Have Years To Run (G.)

The legal fallout from Jeffrey Epstein’s arrest for sex trafficking and subsequent suicide in jail is likely to go on for years, ensuring that those caught up in the saga – like Prince Andrew – will face scrutiny and negative headlines for years to come. Federal authorities in the US have repeatedly said that the investigation into the sex trafficking case is ongoing, raising the prospect of a lengthy multi-pronged and international inquiry into the wealthy financier’s jet-set lifestyle. There is already one criminal prosecution in relation to Epstein’s death: two Manhattan correctional center guards were indicted for allegedly trying to hide their failure to check on him in his cell the night he killed himself.

About one dozen accusers have also filed lawsuits against the convicted sex offender’s estate, and more litigation is likely, ensuring a multitude of legal cases wending their way through the courts. Finally the whereabouts of Epstein’s alleged procurer, Andrew’s friend and British media heiress Ghislaine Maxwell, remain unknown, sparking a global guessing game about one of the key figures in Epstein’s life. None of this is good news for the Duke of York, whose bumbling BBC Newsnight interview – in which he denied sexual activity with Epstein’s then 17-year-old accuser, Virginia Giuffre – has resulted in chaos for the royal family.


While the disgraced prince has now been removed from public duties, the Epstein affair seems virtually endless for him, both in time and scope, and is likely to make any return to prominence difficult, when at any moment a new wrinkle in the case might spur more bad headlines and tricky legal questions. Those wanting answers are unlikely to get them immediately. The wheels of justice can be grindingly slow, experts told the Guardian. “It’s complicated in knowing when the Epstein cases will come to a close, because we do not yet know all of the cases – both criminal and civil – that could find their way into the courts,” said attorney Robert Gottlieb, who has practiced criminal defense for more than four decades.

Read more …

Edit reports through cut and paste so people look bad. Only took 4 years to investigate.

Report On Jeremy Corbyn Inaccurate, Says BBC Trust (BBC)

The BBC broke accuracy and impartiality rules in a News at Six report about Jeremy Corbyn’s view on shoot-to-kill, the BBC’s governing body has said. The item, by BBC political editor Laura Kuenssberg, was shown three days after the Paris attacks in November 2015. A viewer complained that the report misrepresented the Labour leader’s position on the use of lethal force in the event of such an attack in the UK. BBC News director James Harding said he disagreed with the BBC Trust’s ruling. In the News at Six report, Kuenssberg said she had asked Mr Corbyn “if he were the resident here at Number 10 whether or not he would be happy for British officers to pull the trigger in the event of a Paris-style attack”.

He was seen to reply: “I am not happy with a shoot to kill policy in general. I think that is quite dangerous and I think can often be counter-productive.” The actual question Kuenssberg had asked during the interview was: “If you were prime minister, would you be happy to order people – police or military – to shoot to kill on Britain’s streets?” The previous question in the interview, in a section that was not used on the News At Six, he had been asked specifically about his response to a Paris-style attack if he was prime minister and whether he would “order security services onto the street to stop people being killed”. In answer to that question, Mr Corbyn had replied: “Of course you’d bring people onto the streets to prevent and ensure there is safety within our society.”


The BBC Trust said the BBC “was wrong in this case to present an answer Mr Corbyn had given to a question about ‘shoot to kill’ as though it were his answer to a question he had not in fact been asked”.

Read more …

 

 

 

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Nov 272019
 
 November 27, 2019  Posted by at 7:23 pm Primers Tagged with: , , , , , , , , , , , , ,  7 Responses »


Pablo Picasso Female bust R 1943

 

For political, but, much more, monetary reasons, the media makes their mark, and therefore Jeremy Corbyn hates Jews, Julian Assange is an unwashed rapist and Donald Trump is Putin’s handpuppet. And if you object, you’re a suspect human being. In order to make money, and retain or gain power, the media and intelligence services, along with the political powers friendly to them, inject opinions into the populace. How Orwellian do you want it?

And I get it, depending on where people lean politically, they will think these are entirely separate stories. The right will be against Corbyn, the left against Trump. And all of them together against Assange.

I was starting to write about Jeremy Corbyn yesterday, about the innuendo and allegations concerning his alleged antisemitism, and then I thought: wait, Corbyn and Trump is the same story. And Assange. They are very different people, and their stories may appear to be very very different too, but they are not really.

My personal opinion is that Assange has far too little support, and that worries me a lot every single day, while Corbyn and Trump just drown in social media and MSM nonsense. The problem is, that nonsense poses as truth today. That is what Corbyn has failed to understand, what Trump made his own to the extent that he could, and what Assange, who saw all of this better and earlier than anyone, has been entirely isolated from. But it’s still the same thing in all three cases. It’s about the media. They have become the story, instead of reporting it.

I’ve already said that I don’t think the time is right -and ripe- for Corbyn’s radical plans for Britain -if it will ever be-, but I sure don’t think Brexit should be decided on a pack of lies and smears. Still, it very much looks like it will be. “Social” media, don’t you know.

Jeremy Corbyn has long sympathized with the Palestinian people. It appears that this stance will now decide the Brexit issue. Because it allows for his detractors to label him an antisemite. Throw in an editorial once every two days or so which states that even if Corbyn himself is not an antisemite (press insurance policy), he’s guilty by association because he didn’t root out antisemitism in his party strongly enough, and you’re free to go.

But apparently the right wing is not convinced it’ll be enough, so the UK Chief Rabbi throws some more oil on the flames, and so does his close friend, the leader of the Church of England. Corbyn should have spoken out loud and clear a long time ago. He’s the right wing’s toy now. I saw this very long list of things Corbyn said and did to support the British Jewish population, but it doesn’t matter anymore. He’s got a swastika painted on his forehead now.

Corbyn keeps reasoning something like: it’s not true, so I have nothing to fear, but that’s old world thinking. Today things become reality by the grace of being endlessly repeated and, thereby, amplified. He didn’t catch the spirit of the time. He should perhaps have had a Twitter feed like Trump’s, and denounced the allegations from there. Never had a chance in the traditional media anyway.

But Corbyn does not appear to get it. Still, imagine Trump without Twitter, or Corbyn with it.

The Guardian runs a handy guide:

Antisemitism and Labour: Everything You Need To Know

• Critics of Corbyn say that criticism of Israel among some of his supporters, for example about the treatment of the Palestinian people, can too readily tip over into a generalised condemnation which becomes antisemitic. They say also that those within Labour who challenge this can face abuse and persecution. Labour says that while such incidents must be dealt with robustly, the context is that complaints connected to antisemitism amount to 0.1% of party membership, while prejudice in the Conservative party is more widespread.

• Aside from internal Labour investigations, in May the Equality and Human Rights Commission said it had placed Labour under formal investigation over whether the party had unlawfully discriminated against, harassed or victimised people because they were Jewish.

• Labour faced criticism from some Jewish groups after it adopted a working definition of antisemitism by the International Holocaust Remembrance Alliance, but left out one of the 11 examples given in the definition, which said it would be antisemitic to claim “that Israel’s existence as a state is a racist endeavour”. Labour later adopted all 11 examples.

Yeah, no, you don’t fight these things by directly addressing them. It’s like “when did you stop beating your wife” or “does this dress make me look fat”, there are no correct answers. Corbyn lost 2-3 years framing his response, and now it’s too late. That Chief Rabbi:

UK Chief Rabbi Attacks Labour Party

The Chief Rabbi has strongly criticised Labour, claiming the party is not doing enough to root out anti-Jewish racism – and asked people to “vote with their conscience” in the general election. In the Times, Ephraim Mirvis said “a new poison – sanctioned from the very top – has taken root” in the party. Labour’s claim it had investigated all cases of anti-Semitism in its ranks was a “mendacious fiction”, he added. Jeremy Corbyn says Labour is tackling anti-Semitism by expelling members. It comes as Labour launches a “race and faith manifesto”, which aims to improve protections for all faiths and tackle prejudice.

Labour has been beset by allegations of anti-Semitism for more than three years, leading to the suspension of a number of high-profile figures such as Ken Livingstone and Chris Williamson, and an unprecedented investigation by the Equality and Human Rights Commission. In his article, the Orthodox Chief Rabbi of Great Britain and Northern Ireland – who is the spiritual leader of the United Synagogue, the largest umbrella group of Jewish communities in the country – says raising his concerns “ranks among the most painful moments I have experienced since taking office”. But he claims “the overwhelming majority of British Jews are gripped by anxiety” at the prospect of a Labour victory in 12 December’s general election.

He writes: “The way in which the leadership of the Labour Party has dealt with anti-Jewish racism is incompatible with the British values of which we are so proud – of dignity and respect for all people. “It has left many decent Labour members and parliamentarians, both Jewish and non-Jewish, ashamed of what has transpired.” He adds that it was “not my place to tell any person how they should vote” but he urged the public to “vote with their conscience”.

[..] Jenny Manson, the co-chair of the Jewish Voice for Labour group which is not officially affiliated to the party, told BBC Radio 4’s The World Tonight programme she was “horrified” by the Chief Rabbi’s intervention. She added that there was no threat to Jews in the Labour Party but there was a threat from the far-right.

And his Christian friend:

Justin Welby Backs Chief Rabbi After Labour Antisemitism Remarks

The archbishop of Canterbury has in effect backed the chief rabbi’s comments on the Labour leadership’s record on antisemitism with a tweet highlighting the “deep sense of insecurity and fear felt by many British Jews”. Justin Welby does not explicitly refer to the Labour party, but his intervention a few hours after the chief rabbi’s excoriating public criticism of Jeremy Corbyn is significant.

In an article in the Times, Ephraim Mirvis, Britain’s most senior Jewish leader, accused Corbyn of allowing a “poison sanctioned from the top” to take root in the party, saying the way the Labour leadership had dealt with anti-Jewish racism was “incompatible with the British values of which we are so proud – of dignity and respect for all people”.

Welby posted on Twitter: “That the chief rabbi should be compelled to make such an unprecedented statement at this time ought to alert us to the deep sense of insecurity and fear felt by many British Jews. They should be able to love in accordance with their beliefs and freely express their culture and faith.”

Acknowledging the Church of England’s own history of antisemitism – the subject of a major report last week – Welby continued: “None of us can afford to be complacent. Voicing words that commit to a stand against antisemitism requires a corresponding effort in visible action.”

The chief rabbi’s comments were also supported by Rabbi Julia Neuberger, a crossbench peer, who said the Jewish community had been gripped by anxiety. Speaking on BBC Radio 4’s Today programme, Lady Neuberger said that under Corbyn’s leadership “there has been this insidious antisemitic tone to quite a lot of what’s happened and an unwillingness to really face it.”

She added: “If they’re not willing to tackle that, if they’re not willing to apologise for it, if they’re not willing to sympathise, then something is going very wrong. “A political party where some of its members leave because of antisemitic taunting, which still cannot deal with it, makes people feel very uncomfortable.”

That same archbishop of Canterbury’s church was chided for, wait for it, antisemitism, but that’s safely in the past, or so they say. So now he gets to chide others for the exact same thing. No, it’s not in the church, and not in the Conservative party, let’s focus on Corbyn, just so he loses.

Church of England Says Christians Must Repent For Past Antisemitism

Christians must repent for centuries of antisemitism which ultimately led to the Holocaust, the Church of England has said in a document that seeks to promote a new Christian-Jewish relationship. However, the church’s move to take responsibility for its part in Jewish persecution was impaired by stinging criticism by the chief rabbi of the continued “specific targeting” of Jews for conversion to Christianity.

[..] The document acknowledged that two C of E cathedrals, Norwich and Lincoln, were associated with the spread of the “blood libel” in the late Middle Ages. Jewish communities were falsely accused of abducting and killing Christian children to use their blood in the making of Passover matzos (unleavened bread). “This allegation, originating in England, became the catalyst for the murder of many Jews in this country and across Europe, especially in pogroms at Eastertide.”

[..] In a foreword to the document, Justin Welby, the archbishop of Canterbury – known to be personally close to the chief rabbi – said Mirvis’s comments were “written as a friend, and they are received in a similar spirit, however tough they are to read”. He added: “The chief rabbi has opened, with characteristic honesty and affection, a challenge upon which we must reflect. We cannot do that reflection honestly until we have felt the cruelty of our history.”

Yes, boys and girls, it’s election time, and all is fair in love and war and elections. But please pay at least some attention, don’t let these idiots frame your opinions or shape your emotions. They’re doing it for their own gains, not yours. They don’t represent you, they’re using you and will spit you out at the first occasion they see as profitable.

OffGuardian had this nice graph on how big the Labour antisemitism problem really is:

 

 

That’s right, the problem doesn’t exist. At 0.08%, nothing is a problem, it’s a rounding error. Stop listening to these people. I know, I know, too late now, and Corbyn must take the blame for that. You can’t win in 2019 with only the tools and worldview of 1969. I’m neutral on Brexit, though I don’t think the Tories’ approach, doing nothing and then expecting everything to solve itself, is good for Britain. Feels like a scam to me. Britain hasn’t made its own laws in 40 years, and it’s fine if it wants to start doing that again, but it takes a real effort. But where is that effort?

Moreover, after decades of Maggie Thatcher, neocon Tony Blair and successive Tory governments, I’m not at all surprised to read that Parts Of England ‘Have Higher Mortality Rates Than Turkey’. And so I’m not surprised either that Corbyn is so much of a threat to Boris that they send the Chief Rabbi and the Archbishop of Canterbury to finish him off, on “out of hot air” grounds.

Summarized, the media have/has changed far more than people acknowledge. Corbyn can’t win with 1969 tools, but it appears that perhaps the press can. For me this is not about Trump or Corbyn, they are merely symbolic of what is happening, the main point is that our view of the world in increasingly being pre-cooked and pre-chewed, and far too few people see what’s going on with their opinions.

They still think they’re their own opinions. But the reason why they’re fed these stories is because the media make money of off selling these opinions to them, not because of some loftier ideal.

Nice point in case is this tweet from George Monbiot, environmental writer for the Guardian:

 

 

You see, Monbiot is employed by the Guardian, at a plush salary, and he pretends to stand up for Assange here. But his employer is one of the main reasons why Assange is where he is. The Guardian has run a concerted smear campaign against Assange like nobody else I’m aware of. The entirely false story about Paul Manafort visiting Assange in the Ecuador embassy is just the tip of the tip of the iceberg.

So you would think George mentions that, and tells you he despises his own mealticket. You would think Monbiot perhaps would say: I only had 140 characters in that tweet. And I would say: no, George, you have zero character.

 

 

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