Apr 072019
 


Leonardo da Vinci (?) La Joconde nue or Monna Vanna 1515

 

Furious Tory MPs Will Bid To Oust May If UK Fights Euro Poll (O.)
I Had No Choice But To Approach Labour Over Brexit – May (BBC)
UK PM May Has Plan To Offer Labour Brexit Customs Arrangement (R.)
Merkel Throws May A Lifeline Over Brexit Departure Date (O.)
Labour Chairman Attacks Corbyn Over ‘People’s Vote’ On Brexit (O.)
Second Brexit Vote Would Be ‘Ultimate Betrayal’: Leadsom (R.)
Leaked Assange Court Transcript Sheds Light on Ecuador Expulsion Plans
UN Against Extraditing Assange To US: He Could Be Tourtured There (Taer)
The Breach of Bail Allegation Against Assange (M.)
Banning Buybacks Would Crash The Market – Goldman (ZH)
Give Up, Trump-Haters (NYPost)
Why Was There No Backup System On 737 MAX? (USAToday)
Skyscrapers Are Killing Up To 1 Billion Birds A Year In US (G.)
Rhino Poacher Trampled By Elephant Then Eaten By Lions (BBC)

 

 

We will from now on no longer use the term No-Deal Brexit, it is to be replaced with: Car-Crash Brexit.

NOTE: there are numerous factions and fractions that all think Brexit can mean what they happen to want it to mean. And then there’s all the people who don’t want Brexit. Whatever the outcome, there’ll be a lot of pissed-off and angry people. Both May and Corbyn are responsible for not managing the expectations.

Furious Tory MPs Will Bid To Oust May If UK Fights Euro Poll (O.)

Theresa May is being warned by her mutinous MPs that they will move to oust her within weeks if the UK is forced to take part in European elections next month and extend its EU membership beyond the end of June. Tory MPs are increasingly angry at the prospect of voters being asked to go to the polls to elect MEPs three years after the Brexit referendum, in an election they fear will be boycotted by many Conservatives and be a gift to the far right and Nigel Farage’s new Brexit party. Senior Tories said one silver lining of a long extension would be that it would allow them to move quickly to force May out, and hold a leadership election starting as soon as this month.

The warnings came as the prime minister made a last desperate appeal on Saturday night to MPs to back a deal, saying there was an increasing danger Brexit would “slip though our fingers”. May said: “Because parliament has made clear it will stop the UK leaving without a deal, we now have a stark choice: leave the European Union with a deal or do not leave at all. “The longer this takes, the greater the risk of the UK never leaving at all. It would mean letting the Brexit that the British people voted for slip through our fingers. I will not stand for that. It is essential we deliver what people voted for, and to do that we need to get a deal over the line.”

Conservative MP Nigel Evans, an executive member of the 1922 committee of backbenchers said last night that, if May failed to deliver Brexit and all she could do was secure a long extension at an EU summit on Wednesday, she would face overwhelming pressure to step down. “At the moment there is focus on delivering Brexit, but if a long delay becomes a reality I believe the noises off about removing the prime minister will become a cacophony,” he said. “I and many other Conservatives would prefer leaving the EU on World Trade Organisation terms to any humiliating long extension that forces us to take part in the European elections.”

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Problem is, you’re three years late.

I Had No Choice But To Approach Labour Over Brexit – May (BBC)

Prime Minister Theresa May has insisted she had to reach out to Labour in a bid to deliver Brexit or risk letting it “slip through our fingers”. In a statement on Saturday night, Mrs May said there was a “stark choice” of either leaving the European Union with a deal or not leaving at all. Some Conservatives have criticised her for seeking Labour’s help after MPs rejected her Brexit plan three times. Three days of talks between the parties ended without agreement on Friday. Labour leader Jeremy Corbyn said he was “waiting to see the red lines move” and had not “noticed any great change in the government’s position”. He is coming under pressure from his MPs to demand a referendum on any deal he reaches with the government, with 80 signing a letter saying a public vote should be the “bottom line” in the negotiations.


In her statement, Mrs May said that after doing “everything in my power” to persuade her party – and its backers in Northern Ireland’s DUP – to approve the deal she agreed with the EU last year, she “had to take a new approach”. “We have no choice but to reach out across the House of Commons,” the PM said, insisting the two main parties agreed on the need to protect jobs and end free movement. “The referendum was not fought along party lines and people I speak to on the doorstep tell me they expect their politicians to work together when the national interest demands it.” Getting a majority of MPs to back a Brexit deal was the only way for the UK to leave the EU, Mrs May said. “The longer this takes, the greater the risk of the UK never leaving at all.”

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The Tories don’t want a customs deal.

UK PM May Has Plan To Offer Labour Brexit Customs Arrangement (R.)

British Prime Minister Theresa May’s government has a plan to enshrine in law a customs arrangement with the European Union in a bid to win over the opposition Labour Party to back a Brexit deal, The Sunday Times newspaper reported. n“Under the new plan, the prime minister would offer to rewrite the government’s withdrawal bill to enshrine a customs arrangement in law,” the newspaper said. May is trying to win over the main opposition party after her negotiated Brexit deal was voted down by parliament on three occasions.

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Merkel has told Macron to do the heavy lifting.

Merkel Throws May A Lifeline Over Brexit Departure Date (O.)

Angela Merkel is open to backing Theresa May’s request for a short Brexit extension as the German chancellor seeks to maintain the pressure on British MPs to support the withdrawal agreement, according to senior EU sources. In the face of moves from elsewhere in the EU to insist on a longer delay to Britain’s departure, Merkel is keeping all options on the table ahead of this week’s EU summit and is said to be willing to back 30 June as an exit date. She is thought to be concerned that Donald Tusk’s proposal of a year-long extension, with an option to exit earlier on ratification of the withdrawal agreement, could be self-defeating. The thinking in Berlin will be a boon to the prime minister, who on Friday proposed the 30 June extension, with the promise that the UK would hold European elections if it had not ratified the withdrawal agreement by 22 May.


Tusk, as president of the European council, suggested on the same day that his “flextension” would put the onus on the British government to decide its own fate while freeing Brussels from repeatedly revisiting the issue. But Merkel is said to understand May’s anxiety that this idea would lift pressure on the Commons to ratify the withdrawal agreement. Diplomats from other EU capitals have suggested that, given the divisions between leaders, a compromise position could be a summer-end date, with a commitment to hold European elections. Germany has clashed with France over the issue. Last week the French president, Emmanuel Macron, warned that Britain and the EU were heading for no deal, and that the bloc could not “forever be the hostage of a political crisis in the UK”.

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Both parties are divided as can be. And everyone thinks they can get what they want.

Labour Chairman Attacks Corbyn Over ‘People’s Vote’ On Brexit (O.)

Jeremy Corbyn was warned by Labour party chairman Ian Lavery that he risked going down in history as the leader who split his party if he backed another referendum on Brexit, in an extraordinary outburst during a meeting of the shadow cabinet last week, according to senior party sources. The Observer has been told that Lavery, who has twice defied the whip and abstained on votes on another referendum, delivered the broadside at Corbyn during a shadow cabinet meeting on Wednesday evening, at which Corbyn updated his frontbench team on talks with the government aimed at ending the Brexit impasse. According to senior figures, Lavery spoke out at the end of the meeting saying he knew his comments would be leaked but was determined to make his point.


“He was very angry and wagged his finger at Jeremy, telling him that if he backed a referendum he would go down in history as the Labour leader who split the party,” said one shadow cabinet member. “Jeremy just sat there.” The outburst stunned shadow cabinet members who said it would have sparked a full-scale shouting match if MPs had not been called to vote at the very moment he made his intervention. At the same meeting several senior figures, including shadow home secretary Diane Abbott and deputy leader Tom Watson, spoke out in favour of Labour backing a “confirmatory referendum” on any deal agreed by MPs, with remaining in the EU as the alternative on the ballot paper.

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It’s safe to say the ultimate betrayal has already occurred: a government that utterly failed to prepare.

Second Brexit Vote Would Be ‘Ultimate Betrayal’: Leadsom (R.)

A second public vote on Britain’s membership of the European Union would be the “ultimate betrayal”, Andrea Leadsom, the leader of the House of Commons or lower house of parliament, wrote in the Sunday Telegraph newspaper. “The ultimate betrayal would be a second referendum,” wrote Leadsom, a Brexiteer. “It would require lengthy delay, it would reignite the divisive debate, and since Parliament has so far failed to follow the first result, there is no reason to believe it would honor a second referendum either.” Lawmakers have rejected Prime Minister Theresa May’s negotiated agreement on Brexit with Brussels, and talks are underway with the opposition Labour Party to reach a compromise. “The vision we had of Brexit is fading away – and we are running out of time to save it,” Leadsom said.

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Cassandra Fairbanks.

I don’t really think much of people congratulating themselves because he hasn’t been expelled yet and they think they made that happen. What I think this is about is two-fold:

1) UN got involved.
2) Moreno is under investigation in Ecuador for fraud. He better sit still for now and not stir up things. If Assange is targeted now, Moreno will be accused of doing that for political purposes.

Leaked Assange Court Transcript Sheds Light on Ecuador Expulsion Plans

The Gateway Pundit has exclusively obtained a court transcript of an appeal made by WikiLeaks publisher Julian Assange in an Ecuadorian court, in which the publisher accused the Ecuadorian government of preparing to revoke his political asylum at the behest of the United States and United Kingdom. Assange has not been heard from in public since March 28, 2018 after an executive gag order by the government of Ecuador. The following, unpublished, “leaked” transcript of Assange asking an Ecuadorian court for an urgent injunction (“protection order”) against his gagging and isolation is from October 29, 2018.

Journalists and media were banned from recording the proceedings, but a court record was later obtained through legal process and provided to The Gateway Pundit. It has never before been revealed. “I have been in this embassy without sunlight for six years and essentially isolated from most people for seven months and, including electronic communication, the telephone etc, from my young children,” Assange told the court according to the transcript. “It has … interfered with my ability to work, to make a living, and with my deeply held principles that I have fought for all my life, which is to uphold the right of freedom of expression, the right for people to know, the right of the freedom of the press and the right for everyone to participate in their society and the broader society.”

Assange also told the Ecuadorian court that his gag order meant that he could not respond to false statements about himself. “Due to my isolation, I have not been able to participate in the debates occurring around me and that has resulted in a climate of libel and fake news that might be expected for someone who has been in the business of exposing very large and very powerful corrupt organisations or organisations that abuse human rights.” Assange also said that members of the Ecuadorian Government had been involved in spreading information denigrating his character, something that he said saddened him given how proud he was of becoming an Ecuadorian citizen in 2017.

The publisher, who was nominated for the Nobel Peace Prize in 2019, went on to detail the importance of his work. He specifically highlighted his publication of US diplomatic cables which revealed hard truths about the wars in Iraq and Afghanistan. “There was no allegation that I had done anything other than what a journalist does, just that I have been a rather good one and effective one.” The publisher stated that he did not apply for asylum at the embassy to live there. He applied so that he may go and live safely in Ecuador, but that the UK’s efforts to arrest him have made that impossible.

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Melzer wants to visit Assange on April 25. Looks like Ecuador will make sure he’s still in the embassy by then.

UN Against Extraditing Assange To US: He Could Be Tourtured There (Taer)

The UN Special Rapporteur on torture Nils Melzer is alarmed by reports that Julian Assange, the founder of WikiLeaks, may be expelled imminently from the Embassy of Ecuador in London, saying he intended to personally investigate the case. “In my assessment, if Mr. Assange were to be expelled from the Embassy of Ecuador, he is likely to be arrested by British authorities and extradited to the United States,” said the UN expert. “Such a response could expose him to a real risk of serious violations of his human rights, including his freedom of expression, his right to a fair trial and the prohibition of cruel, inhuman or degrading treatment or punishment.

“I therefore urge the Government of Ecuador to abstain from expelling Mr. Assange from its Embassy in London, or from otherwise ceasing or suspending his political asylum until such time as the full protection of his human rights can be guaranteed. “Should Mr. Assange come under British jurisdiction for any reason, I urge the British Government to refrain from expelling, returning or extraditing Mr. Assange to the United States or any other jurisdiction, until his right to asylum under refugee law or subsidiary protection under international human rights law has been determined in a transparent and impartial proceeding granting all due process and fair trial guarantees, including the right to appeal,” said Melzer.

“According to information I have received, Mr. Assange is at risk of extreme vulnerability, and his health is in serious decline. I therefore appeal to the Ecuadorian authorities to continue to provide him, to the fullest extent possible in the circumstances, with adequate living conditions and access to appropriate medical care.

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“UK knows that Julian Assange had a reasonable cause. It was his universal human right to seek asylum. So the arrest warrant has no basis & Julian did not breach his bail.”

UK’s arrest warrant is illegal under international law.

The Breach of Bail Allegation Against Assange (M.)

The only legal issue generally thought to be outstanding for Julian Assange in the UK is a breach of bail conditions. However, a list circulated by Wikileaks to correct misconceptions has rightly stated: “It is false and defamatory to suggest that Julian Assange has ever “breached his bail”, “jumped bail”, absconded, fled an arrest warrant, or that he has ever been charged with such at any time.” In fact, bail is not actually breached unless there is a failure to meet bail conditions “without reasonable cause.” This was mentioned in passing when Emma Arbuthnot ruled to uphold the arrest warrant for breach of bail:

“The offence of absconding by a person released on bail is set out in section 6 of the Bail Act. If a person who is on bail fails without reasonable cause to surrender he shall be guilty of an offence. On a straightforward reading of the section, which makes no mention of any underlying proceedings, 1. Mr Assange has been released on bail, 2. He has failed to surrender and 3. If he has no reasonable cause he will be guilty of an offence.”

The excerpt below from Page 2 of an earlier ruling from Judge Riddle ironically reflects the fact that there was indeed a reasonable cause and the UK knew it. This reasonable cause was the universal human right to seek asylum, and it was exercised with unprecedented international notoriety. This was apparently not lost on whoever was directing the UK strategy, since it was a full nine days before his appearance was requested with a day’s notice at Belgravia Police Station, predictably followed the next day with an arrest warrant when he did not appear.

[..] without such an arrest warrant, the UK would have no pretext to extract him from the embassy. Its awareness of lacking justification was then further shown by waiting another six weeks for Ecuador to fold under pressure to reject the asylum claim. Yet when it was finally obvious that asylum was about to be granted, they did in fact try their luck with a threat to revoke the diplomatic status of the embassy in order to arrest him. That obviously did not work. Waiting so long and then overplaying their hand was a reassuring indication that their wits didn’t quite measure up to their malice. Yet what else could they do, since it was obvious that international law took precedence on the world stage when he walked into the embassy?

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That so-called ‘market’ is the Fed and the companies its ultra-low rates allow to buy themselves.

Banning Buybacks Would Crash The Market – Goldman (ZH)

Few topics prompt as powerful (and violent) a response from financial professionals as what the role of financial buybacks is in determining stock prices. One group, largely those bulls who after a decade of central bank manipulation still believe that markets are efficient and unrigged, and in hope of increasing their AUMs claim that they are financial geniuses for riding the world’s biggest financial bubble in history, argue that stock buybacks have no impact on stock prices.

Others, those who actually understand that if there is a trillion dollars in price indiscrimiante stock bids (as was the case in 2018 and will again happen in 2019) is the single most effective way to boost stock prices (and management’s incentive-linked comp, linked to higher stock prices), know – correctly – that corporate buybacks, which until not too long ago were banned, and which over the past decade emerged as the single biggest source of stock purchases, are one of the two most important factors behind the all time highs in the stock market (the other being the Fed, whose policies have allowed companies to issue debt with record low yields, allowing them to fund these trillions in buybacks).

And with the debate raging, either side happy to “convince” others in its echo chamber while hurling insults at the other, few have been as vocal in their defense of stock buybacks as Goldman Sachs. One month ago, the firm’s chief equity strategy David Kostin wrote a report – let’s call it the carrot – seeking to debunk “misconceptions” about stock buyabcks, which he claimed had gotten an unfair rap in the US. Specifically, Kostin said that “one of the greatest misconceptions in the public discourse surrounding corporate buybacks is the belief that managements repurchase stock in an attempt to inflate earnings per share and meet incentive compensation targets,” Goldman wrote.

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What’s become of the media when the NY Post provides the most balanced view?

Note: Judicial Watch has launched the first lawsuit, see video.

Give Up, Trump-Haters (NYPost)

Proving themselves happy to pander to folks who can’t let go of the Collusion Delusion, The New York Times and Washington Post are both suggesting that Attorney General William Barr spun special counsel Robert Mueller’s report to make President Trump look good. But neither account amounts to more than clickbait. Previewing Thursday’s front-page story, a Times online headline Wednesday screamed: “Some on Mueller’s Team Say Report Was More Damaging Than Barr Revealed.” The Washington Post ran a similar story. Message: The truth is out there! Barr’s just corruptly covering up for Trump!

Except that neither paper even pretends to have such info from anyone “on Mueller’s team” — just chatter from people who say they’ve talked to Muellerites. It’s a shameless followup to months of stories in both papers, and across much of the media, that relied on anonymous sources to feed the Delusion. Especially when it’s already known that Mueller’s report has some info that will make the president look bad — because Barr said so, noting that Mueller found “evidence on both sides of the question” of obstruction.

Of course Barr’s four-page summary of a 300-plus page document left out plenty. But there’s no coverup: The AG plans to release the report in a week or two (after it’s redacted in accordance with laws and Department of Justice rules) so folks can read it for themselves. It’s also nuts to think Barr would lie about Mueller’s findings: Mueller himself would go public rather than let that happen. But die-hard Trump haters can’t let go, and their media and political enablers don’t want to disappoint them. (Thus Rep. Jerry Nadler’s grand show of threatening to subpoena the full Mueller report.) Much of the news media, and many top Democrats, already have egg on their faces, thanks to Mueller’s findings. It’s astounding that they’re trying to recover by digging the hole deeper.

https://twitter.com/i/status/1114664077551267841

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Confirms what I wrote a few days ago. A niece of Ralph Nader was killed in the second crash. He won’t rest.

Why Was There No Backup System On 737 MAX? (USAToday)

When it comes to safety, modern commercial aircraft are known not only for having back-up systems, but in some cases, back-ups of their back-ups. So even as Boeing has taken responsibility for a fatal flaw in a key anti-stalling system in its 737 Max 8, mystery still surrounds why the software was designed to be dependent on a single outside sensor, though it was equipped with two, triggering a chain of events that led to the crashes of Lion Air and Ethiopian Airlines jetliners less than five months apart. Boeing “violated a basic principle of aircraft design by allowing a single point failure to trigger a sequence of events that could result in a loss of control,” said Brian Alexander, an attorney for a law firm specializing in aviation accidents, Kreindler & Kreindler in New York, that is contemplating lawsuits on behalf of victims’ families in the Ethiopian Airlines crash.

Based on an initial report from crash investigators, Boeing CEO Dennis Muilenburg acknowledged Thursday that erroneous data sent to the system led to the Lion Air crash off Indonesia in October that killed 189 passengers and crew and the Ethiopian Airlines disaster in Africa that took 157 lives on March 10, both in the 737 Max 8. He vowed Boeing would fix the problem. Others, however, aren’t so sure that Boeing can find an adequate repair, saying that the twin crashes are proof that the plane’s problems run deeper than flawed sensors. They say the design itself has created inherent problems that simple fixes won’t solve. “You go to the source of the problem, not the symptom,” said consumer advocate Ralph Nader, who lost a niece in the Ethiopian Airlines crash. “An aircraft has to be designed stall proof, not stall prone.”

[..] The single source of data seems unusual given the lengths that Boeing has gone to build redundancies into its jetliners. For the 777, Boeing’s twin-aisle intercontinental jet, engineers created triple redundancy for its computers, hydraulics, communications and electrical power. Perhaps the best illustration of the lengths that the company was willing to go on back-ups was found in the plane’s primary flight computer. It was built with three microprocessors, instead of one, and each of them came from a different manufacturer: Intel, AMD and Motorola, according to an account by a Boeing engineer.

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My first thought was that looks like a really big number. But I don’t want to question the Smithsonian either.

Skyscrapers Are Killing Up To 1 Billion Birds A Year In US (G.)

Scientists estimate that at least 100 million and maybe as many as a billion birds die each year in the US when they collide with buildings, especially glass-covered or illuminated skyscrapers. And, in a new report, conservationists now have a better idea which American cities are the deadliest for those on the wing. Chicago, with its many glass superstructures that spike into what is the busiest US avian airspace during migration, is the most dangerous city for those feathered travelers. More than 5 million birds from at least 250 different species fly through the Windy City’s downtown every fall and spring. They journey twice a year, many thousands of miles, going north in the spring from Central and South America, across the Great Lakes to Canada, and back south in the fall.

The famous skyline of Manhattan is another death trap for birds, especially those migrating. “They wind up landing somewhere that’s unfamiliar, like a sidewalk somewhere,” said Susan Elbin, director of conservation and science at New York City Audubon, a leading bird advocacy organization. “Then when daylight comes, and they want to get more food, they’ll fly into a tree that they think is a tree, and it’s really a reflected tree in some glass building … Then they’ll slam into the glass, and then they die.” Most birds migrating through the US do so at night, when the airspace is cool and calm – and often end up veering through cities because their glow stands out. Scientists have long known that birds are attracted to light, so when they fly over a bright city at night, they are naturally drawn toward it, unaware they are in dangerous territory.

[..] As the experts admit, it’s hard to get reliable statistics. New York City Audubon conducts “collision monitoring studies” in September and April each year, sending dozens of volunteers into the city streets to track fallen birds. The organization estimates about 90,000 to 200,000 birds are killed via building collision in the city each year. Local Audubon chapters and other bird conservation groups around the country coordinate similar data collection exercises. On a national scale, the Smithsonian’s migratory bird center estimated the number of deaths to be between 100 million and one billion birds annually, using data from a wide variety of different groups across the country.


Skyscrapers in New York City. Photograph: Michael Nagle/Bloomberg

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Is it okay if I find this okay?

Rhino Poacher Trampled By Elephant Then Eaten By Lions (BBC)

A suspected rhino poacher has been trampled on by an elephant then eaten by a pride of lions in Kruger National Park, South Africa. Accomplice poachers told the victim’s family that he had been killed by an elephant on Tuesday. Relatives notified the park ranger. A search party struggled to find the body but eventually found a human skull and a pair of trousers on Thursday. The managing executive of the park extended his condolences to the family. “Entering Kruger National Park illegally and on foot is not wise,” he said. “It holds many dangers and this incident is evidence of that.” Kruger National Park has an ongoing problem with poaching and there remains a strong demand for rhino horn in Asian countries. On Saturday, Hong Kong airport authorities seized the biggest haul of rhino horn in five years, valued at $2.1m.


Getty images

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Feb 112019
 
 February 11, 2019  Posted by at 10:04 am Finance Tagged with: , , , , , , , , , , , , ,  


Pablo Picasso Glass, bread and cheesee 1923

 

Plummeting Insect Numbers ‘Threaten Collapse Of Nature’ (G.)
IMF Cuts 2019 Global Growth Forecasts Again: “We Have No Idea” (Mish)
UK Public Services Face Post-Brexit Squeeze (R.)
Theresa May Rejects Corbyn’s Ideas For A Compromise Brexit Plan (G.)
May Rejects Corbyn’s Customs Union Offer, What’s Next? (Mish)
All The Ways Gen X Is Financially Wrecked (MW)
Warren: Trump Might Not Be President Or ‘Even A Free Person’ In 2020 (MW)
Viktor Orbán: No Income Tax For Hungarian Women With Four Or More Children (G.)
Pompeo Trip Marks US Re-Engagement With Long-Overlooked Central Europe (R.)
China Retail Earnings Up 8.5% During New Year Holiday (R.)
Oil Prices Fall On Rising US Rig Count, Pressure On OPEC+ Supply Cuts (R.)
Spain’s Right Wing In Mass Protests Against PM’s Catalan Policy (Pol.eu)
Imitating Escher Is Not Easy (G.)

 

 

This should be the only topic left on all media and political agendas. Instead, everyone’s talking about music awards. Mankind had its promises, but they came with fatal flaws. The ability to lie to ourselves and others -including about the relative importance of various events- is doing us in.

We do have the brain structure to foresee future dangers, but also to discard them. We can see ourselves do things we know are devastatingly stupid, but we cannot stop ourselves from doing them. In the end, no matter how smart we think we are, only stupidity is left.

Even here, when people talk about the collapse of nature, the media present it as something separate from us. While we’re right in the middle of it, and we know it only too well.

Plummeting Insect Numbers ‘Threaten Collapse Of Nature’ (G.)

The world’s insects are hurtling down the path to extinction, threatening a “catastrophic collapse of nature’s ecosystems”, according to the first global scientific review. More than 40% of insect species are declining and a third are endangered, the analysis found. The rate of extinction is eight times faster than that of mammals, birds and reptiles. The total mass of insects is falling by a precipitous 2.5% a year, according to the best data available, suggesting they could vanish within a century. The planet is at the start of a sixth mass extinction in its history, with huge losses already reported in larger animals that are easier to study. But insects are by far the most varied and abundant animals, outweighing humanity by 17 times. They are “essential” for the proper functioning of all ecosystems, the researchers say, as food for other creatures, pollinators and recyclers of nutrients.

Insect population collapses have recently been reported in Germany and Puerto Rico, but the review strongly indicates the crisis is global. The researchers set out their conclusions in unusually forceful terms for a peer-reviewed scientific paper: “The [insect] trends confirm that the sixth major extinction event is profoundly impacting [on] life forms on our planet. “Unless we change our ways of producing food, insects as a whole will go down the path of extinction in a few decades,” they write. “The repercussions this will have for the planet’s ecosystems are catastrophic to say the least.” The analysis, published in the journal Biological Conservation, says intensive agriculture is the main driver of the declines, particularly the heavy use of pesticides. Urbanisation and climate change are also significant factors.

“If insect species losses cannot be halted, this will have catastrophic consequences for both the planet’s ecosystems and for the survival of mankind,” said Francisco Sánchez-Bayo, at the University of Sydney, Australia, who wrote the review with Kris Wyckhuys at the China Academy of Agricultural Sciences in Beijing. The 2.5% rate of annual loss over the last 25-30 years is “shocking”, Sánchez-Bayo told the Guardian: “It is very rapid. In 10 years you will have a quarter less, in 50 years only half left and in 100 years you will have none.” One of the biggest impacts of insect loss is on the many birds, reptiles, amphibians and fish that eat insects. “If this food source is taken away, all these animals starve to death,” he said. Such cascading effects have already been seen in Puerto Rico, where a recent study revealed a 98% fall in ground insects over 35 years.

[..] “The main cause of the decline is agricultural intensification,” Sánchez-Bayo said. “That means the elimination of all trees and shrubs that normally surround the fields, so there are plain, bare fields that are treated with synthetic fertilisers and pesticides.” He said the demise of insects appears to have started at the dawn of the 20th century, accelerated during the 1950s and 1960s and reached “alarming proportions” over the last two decades. He thinks new classes of insecticides introduced in the last 20 years, including neonicotinoids and fipronil, have been particularly damaging as they are used routinely and persist in the environment: “They sterilise the soil, killing all the grubs.” This has effects even in nature reserves nearby; the 75% insect losses recorded in Germany were in protected areas.

The world must change the way it produces food, Sánchez-Bayo said, noting that organic farms had more insects and that occasional pesticide use in the past did not cause the level of decline seen in recent decades. “Industrial-scale, intensive agriculture is the one that is killing the ecosystems,” he said. [..] “When you consider 80% of biomass of insects has disappeared in 25-30 years, it is a big concern.”

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“It’s refreshing to hear Lagarde say “we have no idea”. The IMF should say that every month.”

IMF Cuts 2019 Global Growth Forecasts Again: “We Have No Idea” (Mish)

For the fourth time since October, the IMF revised its global growth forecast lower. The Wall Street Journal reports IMF Lowers 2019 Global Growth Forecast. “The global economy is starting the year on weaker footing, according to new quarterly forecasts from the International Monetary Fund.” That report was on January 21. For details, see the IMF’s World Economic Outlook Update, January 2019.

“Last month, the IMF lowered its global economic growth forecast for this year from 3.7% to 3.5%. Lagarde cited what she called “four clouds” as the main factors undermining the global economy and warned that a “storm” might strike. The risks include “trade tensions and tariff escalations, financial tightening, uncertainty related to (the) Brexit outcome and spillover impact and an accelerated slowdown of the Chinese economy”, she said. Lagarde said trade tensions — mainly in the shape of a tariff spat between the United States and China, the world’s two biggest economies – are already having a global impact. “We have no idea how it is going to pan out and what we know is that it is already beginning to have an effect on trade, on confidence and on markets,” she said, warning governments to avoid protectionism.”

“Lagarde also pointed to the risks posed by rising borrowing costs within a context of “heavy debt” racked up by governments, firms and households. “When there are too many clouds, it takes one lightning (bolt) to start the storm,” she said.” The IMF is perpetually far behind the curve. It never sees the clouds or the lightening bolts in real time. It’s refreshing to hear Lagarde say “we have no idea”. The IMF should say that every month.

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As if things are not bad enough. Get out while you can.

UK Public Services Face Post-Brexit Squeeze (R.)

Many British public services risk ongoing real-terms cuts for years to come, despite a softer fiscal stance from Chancellor Philip Hammond, a major think tank predicted ahead of a half-yearly budget update next month. The Institute for Fiscal Studies (IFS) expects Hammond to give more details of the money available for a multi-year review of public spending when he updates budget plans on March 13, just two weeks before Britain is due to leave the European Union. In his annual budget in November, Hammond loosened the government’s purse-strings, giving support to the economy as it slowed ahead of Brexit. However, rising healthcare spending leaves little spare for other public services, the IFS said.

“This suggests yet more years of austerity for many public services — albeit at a much slower pace than the last nine years,” IFS research economist Ben Zaranko said. Public services outside of health, defence and overseas aid saw budgets fall by an average of 3 percent a year in real terms after 2010, and now look set for declines of 0.4 percent a year in inflation-adjusted terms going forward, the IFS predicts. [..] “In the short run … government might well raise spending to support the economy, mitigate the impacts for the worst-hit sectors or areas and provide funding to departments now required to perform additional functions, notably at the border,” the IFS said. In the long run, higher taxes or further spending cuts would be required to pay for this spending, as well as to compensate for weaker growth caused by trade restrictions, the IFS added.

[..] Brexit uncertainty has damaged the economy already and will slow growth further over the long term, even with a deal. Last week the Bank of England estimated the costs to date at 1.5 percent of GDP — more than the forecast budget deficit for 2018/19. During 2016’s referendum campaign, Brexit supporters including former foreign minister Boris Johnson said leaving the EU would free as much as 350 million pounds a week to spend on public services such as healthcare.

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OK, where are the street fighting men?

Theresa May Rejects Corbyn’s Ideas For A Compromise Brexit Plan (G.)

Theresa May has effectively ruled out Labour’s ideas for a compromise Brexit plan, shutting off another potential route to a deal as business groups warned that with less than 50 days to go the departure process was entering the “emergency zone”. The prime minister’s formal response to Jeremy Corbyn’s proposal, in a letter to the Labour leader, stressed her objections to keeping the UK in some form of customs union, saying this would prevent the UK making its own trade deals. But in an apparent renewed bid to win over wavering Labour MPs, May made a concession on environmental and workers’ rights, discounting Corbyn’s idea of automatic alignment with EU standards but suggesting instead a Commons vote every time these change.

The letter comes amid a growing presumption that while May remains officially committed to putting a revised Brexit plan to MPs as soon as possible, in practice this is unlikely to happen before the end of February, if not later. The communities secretary, James Brokenshire, said on Sunday that if no finalised deal were put to the Commons by 27 February, MPs would again be given an amendable motion to consider, allowing them to block a no-deal departure or make other interventions. “If the meaningful vote has not happened, so in other words things have not concluded, then parliament would have that further opportunity by no later than 27 February,” he told BBC1’s Andrew Marr Show.

May remains officially committed to getting the EU to agree to significant changes to the Irish border backstop as a way of winning over the DUP and agitated Tory backbenchers who helped bring about the heavy defeat of her plan. But with the PM’s meetings in Brussels last week yielding no real hope of this, there had been speculation she might embrace suggestions from Corbyn, who last week outlined five commitments Labour needed for it to back a deal, including joining a customs union. In her letter May argued that her own Brexit plan “explicitly provides for the benefits of a customs union” in terms of avoiding tariffs, while allowing “development of the UK’s independent trade policy beyond our economic partnership with the EU”. She wrote: “I am not clear why you believe it would be preferable to seek a say in future EU trade deals rather than the ability to strike our own deals?”

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“..she successfully took another four days off the clock.”

May Rejects Corbyn’s Customs Union Offer, What’s Next? (Mish)

On February 6, Labour Leader Jeremy Corbyn offered UK Prime Minister Theresa May a Customs Union Deal in which the Labour party would back a deal with May. She could have easily rejected Corbyn’s offer on the spot. Instead, she successfully took another four days off the clock. Today we see, May Rejects Corbyn’s Offer as Businesses Warn of Brexit Cliff Edge. She wrote: “I am not clear why you believe it would be preferable to seek a say in future EU trade deals rather than the ability to strike our own deals?” Great Question! Actually, the question itself is not great. May could have just as easily asked anything else. Thus, the question was irrelevant.

The importance is Corbyn now has to respond. How long will that take? Even if it’s a single day, that another day off the March 29 Brexit clock. Theresa May has effectively splintered the Labour party. Some want a new referendum, some want Brexit, and some want a custom’s union. Corbyn is now a clear loser in May’s tactics. The other side of May’s gambit is the Tories are now united. They still do not want her deal. [..] The biggest fear for the Tories was a new election. May’s gambit remains what it has always been, to play on the fears of both sides such that they would support her silly deal. While May succeeded on one front, she categorically failed on another. She now needs to win over DUP and splinter the Tories. If she can do that, then she wins. Meanwhile, the clock is running down.

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There are many more ways than these.

All The Ways Gen X Is Financially Wrecked (MW)

Reality bites. While millennials garner much of the negative press around financial issues — they live with their parents because they can’t get jobs! They spend all their money on avocado toast! — Gen Xers may be the ones who are really in trouble. Just 16% of Gen Xers say that they included financial planning in their 2019 goals, according to a recent survey from Allianz Life. That’s compared with 27% of millennials. And when asked what 2019 resolution they were most likely to make, and to keep, just 38% mentioned managing money better and saving more; meanwhile 50% of millennials said that. That lack of planning and goal-keeping could make a bad situation worse — as Gen X may already be financially worse off than other generations in a number of ways.

They’ve got the most credit card debt of anyone — yet still spend more than anyone on non-essentials. Members of Gen X have higher levels of credit card debt — which tends to carry a higher interest rate than most other debt — than other generations. Indeed, credit card debt levels peak between the ages of 45-54 at $9,096, with the second highest levels of debt being or those who are 35-44 at $8,235. Meanwhile, the under 35 set has just $5,808. “Millennials and individuals over 74 years old held the least credit card debt. These two groups are also among the least likely to have a credit card, which can serve as a potential explanation behind the trend we are seeing here,” ValuePenguin explains of their data.

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Don’t do it, Elizabeth. Dumb move.

Warren: Trump Might Not Be President Or ‘Even A Free Person’ In 2020 (MW)

Back in Iowa as a full-fledged presidential candidate, Democrat Elizabeth Warren took aim at President Donald Trump on Sunday, saying he “may not even be a free person” by next year’s election. The Massachusetts senator’s comments came a day after Trump renewed his criticism of her past claims of Native American heritage. In a tweet, Trump called Warren “Pocahontas” and said he would see her “on the campaign TRAIL.” The White House didn’t explain what the president was referring to in his tweet, though some Democrats accused him of making light of the Trail of Tears — the forced removal of Cherokee and several other Native American tribes from their lands in the 1830s. Warren’s campaign wouldn’t say what the senator believes Trump was referencing.

Warren has largely avoided talking about Trump since she began testing the waters for a campaign more than a month ago. During her first of three events Sunday in eastern Iowa, Warren said the president shouldn’t be allowed to dictate the direction of the campaign with divisive attacks. “Every day there is a racist tweet, a hateful tweet — something really dark and ugly,” she said. “What are we as candidates, as activists, as the press, going to do about it? We’re going to chase after those every day?” She continued: “Here’s what bothers me. By the time we get to 2020, Donald Trump may not even be president. In fact, he may not even be a free person.”

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Orban’s success: “..a labour shortage means jobs cannot be filled.”

Viktor Orbán: No Income Tax For Hungarian Women With Four Or More Children (G.)

Hungary’s populist prime minister, Viktor Orbán, has promised that women who have four or more children will never pay income tax again, in a move aimed at boosting the country’s population. Orbán, who has emerged as Europe’s loudest rightwing, anti-immigration voice in recent years, said getting Hungarian families to have more children was preferable to allowing immigrants from Muslim countries to enter. “In all of Europe there are fewer and fewer children, and the answer of the west to this is migration,” said Orbán in his annual state of the nation address on Sunday. “They want as many migrants to enter as there are missing kids, so that the numbers will add up. We Hungarians have a different way of thinking. Instead of just numbers, we want Hungarian children. Migration for us is surrender.”

Orbán’s Fidesz party won a third consecutive electoral victory last year on an anti-migration platform, and the Hungarian prime minister rarely gives a speech without presenting the upcoming years as a do-or-die battle for the future of Europe. He has voiced a hope that after elections in May, all European institutions will be controlled by “anti-migration forces”. He has repeatedly claimed that the Hungarian-born American financier and philanthropist George Soros, a favoured target of the far right across the globe, is masterminding a conspiracy to destroy Europe by promoting mass migration. “The people of Europe have come to a historic crossroads,” Orbán said on Sunday, criticising the “mixed population countries” that result from allowing migration.

The process was moving so quickly, he said, that the transformation of previously Christian countries into those where Christians were a minority would happen in his lifetime. “There is no return ticket,” he said. [..] As the prime minister spoke, anti-Orbán protesters gathered in Budapest for the latest in a series of rallies against the government which began in December after parliament passed a “slave law” allowing employers to demand more overtime from workers. The law is seen as another result of the demographic problems in the country, as a labour shortage means jobs cannot be filled.

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And who does Pompeo visit first? Orban of course. Operating in the EU’s own back yard.

Pompeo Trip Marks US Re-Engagement With Long-Overlooked Central Europe (R.)

When Secretary of State Mike Pompeo visits Hungary, Slovakia and Poland this week he wants to make up for a lack of U.S. engagement that opened the door to more Chinese and Russian influence in central Europe, administration officials say. On a tour that includes a conference on the Middle East where Washington hopes to build a coalition against Iran, Pompeo begins on Monday in Budapest, the Hungarian capital that last saw a secretary of state in 2011 when Hillary Clinton visited. On Tuesday he will be in Bratislava, Slovakia, for the first such high-level visit in 20 years. “This is overdue and needed,” a senior U.S. administration official said, speaking on condition of anonymity. “Our message is we have to show up or expect to lose.

“Our efforts at diplomatic engagement are aimed at competing for positive influence and giving allies in the region an indication of U.S. support and interest in order to have alternatives to China and Russia.” Washington is concerned about China’s growing presence, in particular the expansion of Huawei, the world’s biggest telecom gear maker, in Hungary and Poland. [..] Pompeo will also voice concerns about energy ties with Moscow, and urge Hungary to not support the TurkStream pipeline, part of the Kremlin’s plans to bypass Ukraine, the main transit route for Russian gas to Europe. Hungary gets most of its gas from Russia and its main domestic source of electricity is the Paks nuclear power plant where Russia’s Rosatom is involved in a 12.5 billion-euro ($14 billion) expansion. It is also one of the EU states that benefit most from Chinese investment.

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Xi’s conundrum: does he play up how great this is, how it makes his economy look great, or does he try and cut down on borrowing even more, scared that Chinese are borrowing far too much?

China Retail Earnings Up 8.5% During New Year Holiday (R.)

China’s retailer and catering enterprises earned over 1 trillion yuan ($148.3 billion) during the Lunar New Year holiday, defying an economic slump to rise 8.5 percent from last year, the country’s commerce ministry said late on Sunday. The increase was down to the rapid growth in sales of new-year gifts, traditional foods, electronic products and local speciality products over a six-day holiday period ending on Saturday, the Ministry of Commerce said in a notice on its website. Domestic tourism during the new year break generated total revenues of 513.9 billion yuan, up 8.2 percent on the year, with the number of trips rising 7.6 percent to 415 million, the official Xinhua news agency said on Sunday, citing official data.

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The US is pricing itself out of the market: OPEC+ output cuts are meant to support prices, not to allow the US to fill in the gaps.

Oil Prices Fall On Rising US Rig Count, Pressure On OPEC+ Supply Cuts (R.)

Crude prices fell by around 1 percent on Monday as U.S. drilling activity picked up and as Russia’s biggest oil producer pressured President Vladimir Putin to end the supply cut deal with Middle East-dominated producer club OPEC. [..] In the United States, energy firms last week increased the number of oil rigs operating for the second time in three weeks, a weekly report by Baker Hughes said on Friday. Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, pointing to a further rise in U.S. crude production, which already stands at a record 11.9 million bpd. Elsewhere, the head of Russian oil giant Rosneft, Igor Sechin, has written to the Russian President Vladimir Putin saying Moscow’s deal with the OPEC to withhold output is a strategic threat and plays into the hands of the United States.

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Mea culpa. On the news yesterday that the Catalan court cases begin this week, I said nothing appeared to have changed from Rajoy’s days. Not true.

Spain’s Right Wing In Mass Protests Against PM’s Catalan Policy (Pol.eu)

Tens of thousands gathered in Madrid on Sunday to protest Spanish Prime Minister Pedro Sánchez’s plan to ease tensions with Catalan separatists, in a demonstration uniting the leaders of conservative and far-right parties. The protest of an estimated 45,000 people marked the first time that the leaders of the conservative Popular Party (PP), centrist Ciudadanos and far-right Vox were photographed together, El País reported. Protesters accused Sánchez of “stabbing [Spain] in the back” and called for a snap election because of his government’s decision to accept a long-held demand of Catalan secessionists to appoint a facilitator in talks between pro-independence and pro-unity political parties.

The ruling regional pro-independence parties in Barcelona have rejected the Socialists’ proposed framework for talks and are calling for a new independence vote, which the government opposes. “The time of Pedro Sánchez has ended,” said PP leader Pablo Casado. “There is no more room for surrendering by the Socialists, or further extortion from the separatists. Today, the reconquest begins.” Sánchez said at a separate rally on Sunday that “the government is working for the unity of Spain, and this means uniting Spaniards and not pitting people against one another like the right is doing.” He added: “Democracy is not heads or tails, there are many alternatives. Ours is coexistence, law and dialogue in Catalonia.”

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Off topic. What these works show, after you’ve watched them for 2 seconds, is how good Escher was, and others are not. The first one, cats and dogs, depends on cartoon animals. Escher used only real animals. The second comes closest to Escher’s work, but that makes it a bland imitation. The third is straight-up cartoon, not at all something Escher would have done.

Imitating Escher Is Not Easy (G.)

Alain Nicolas, aged 73, was inspired to create his own tessellations on seeing the work of Escher four decades ago. Escher’s tessellations of interlocking birds, fish and lizards are some of the most recognisable mathematical art of the twentieth century; striking and playful as well as breathtakingly ingenious. Nicolas’ work is also stunning and witty.

Now retired, he spends half his free time designing tessellations and recently finished his 400th. You can see many of them on his extensive website (but don’t peek until you have solved the puzzles!). Drawing tessellations is not easy. It takes a lot of geometrical acuity to make shapes that fit together and are convincing representations.

David Bailey, a British tessellation artist, believes that Nicolas is the best tessellation artist in the world. “His work has everything, recognisable silhouettes, quality, variety, number, level of innovation, next to no padding, and all rendered to a most pleasing standard of finish. Bravo, Alain!” Nicolas has – like Escher – no background in maths, but says all that is required is a sense of wonder and a desire to always do better. Here is a self portrait, sitting in a bar, reading his own book, and calling the waiter with his finger.

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Feb 022019
 
 February 2, 2019  Posted by at 10:53 am Finance Tagged with: , , , , , , , , , , , , ,  


Pablo Picasso The bathers 1918

 

Russia Suspends INF Treaty In ‘Mirror Response’ To US – Putin (RT)
US Payrolls Surge By 304,000, Smashing Estimates Despite Shutdown (CNBC)
Big Trouble in Little China (Schmid)
How Fast Housing Markets in Sydney & Melbourne Are Coming Unglued (WS)
Venezuela To Sell Gold Reserves To UAE Without Russia’s Help (RT)
Italy Rejects Guaido, Says Venezuela is a Sovereign State (Telesur)
Whitehall Begins ‘Serious Work’ On Customs Union With EU (Ind.)
Judge Considers Gag Order On Roger Stone And Prosecution (BBC)
America’s Kurdish Allies Risk Being Wiped Out – By NATO (Graeber)
Rigging the Science of GMO Ecotoxicity (Latham)

 

 

US arms producers eye their ultimate bid for trillions in development fees. But Russia is not fazed at all.

“Let’s wait until our partners mature sufficiently to hold a level, meaningful conversation on this topic..”

Russia Suspends INF Treaty In ‘Mirror Response’ To US – Putin (RT)

President Vladimir Putin says Moscow is halting its participation in the Cold War-era INF nuclear agreement after Washington’s decision to suspend it. Russia will develop missiles previously forbidden under its terms. “Ours will be a mirror response. Our US partners say that they are ceasing their participation in the treaty, and we are doing the same,” the Russian president said in Moscow on Saturday in reference to the Intermediate-Range Nuclear Forces Treaty (INF). “They say that they are doing research and testing [on new weapons] and we will do the same thing,” Putin said during a meeting with Foreign Minister Sergey Lavrov and Defense Minister Sergey Shoigu.

The Russian leader emphasized that while Moscow’s offers on modernizing the 1987 treaty and making it more transparent “are still on the table,” no more talks should be initiated with the Americans to try and save it. “Let’s wait until our partners mature sufficiently to hold a level, meaningful conversation on this topic, which is extremely important for us, them, and the entire world,” Putin said. In December, the Trump administration threatened to quit the agreement, which limits nuclear and conventional land-launched missiles with a range between 500 and 5,500km within 60 days, unless Russia stopped allegedly violating it with its 9M729 missile, which Washington claims exceeds the permitted range.

Moscow denied that it had broken the treaty, and offered additional mutual inspections during failed talks in Geneva last month. On February 1, Washington officially confirmed that the bilateral agreement signed by Mikhail Gorbachev and Ronald Reagan will be suspended for 180 days. Washington also signaled intentions to entirely withdraw from it afterwards. During the meeting in front on the cameras on Saturday, Lavrov insisted that Moscow “attempted to do everything we could to rescue the treaty.” This included “unprecedented steps going far beyond our obligations,” he said, accusing Washington of systematically undermining the INF Treaty at least since the late 1990s.

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“December’s big initially reported gain of 312,000 was knocked all the way down to 222,000..”

US Payrolls Surge By 304,000, Smashing Estimates Despite Shutdown (CNBC)

Job growth in January shattered expectations, with nonfarm payrolls surging by 304,000 despite a partial government shutdown that was the longest in history, the Labor Department reported Friday. The unemployment rate ticked higher to 4 percent, a level where it had last been in June, a likely effect of the shutdown, according to the department. However, officials said federal workers generally were counted as employed during the period because they received pay during the survey week of Jan. 12. On balance, federal government employment actually rose by 1,000. Economists surveyed by Dow Jones had expected payrolls to rise by 170,000 and the unemployment rate to hold steady at 3.9 percent.

In all, it was a powerful performance at a time when economists increasingly have said they expect growth to slow in 2019. January marked 100 months in a row of positive job creation, by far the longest streak on record. Stock futures and Treasury yields jumped in response to the better-than-expected report. The news was not all good, though, as data revisions pushed previous numbers lower. December’s big initially reported gain of 312,000 was knocked all the way down to 222,000, while November’s rose from 176,000 to 196,000. On net, that took the two months down by 70,000, bringing the three-month average to 241,000. That’s still well above the trend that would be common this far into an economic expansion dating back 9 1/2 years.

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“Real GDP fell by 1.7 percent and 0.6 percent in Q3 and Q4 respectively compared with the official figures showing growth of 6.4 percent and 6 percent..”

Big Trouble in Little China (Schmid)

There are those who think “China will take over the world” with its technocratic central planning. Then there are those who say its debt bubble is so gigantic, the economy will crash and burn. The truth, probably, lies somewhere in the middle. And it looks like we are getting closer to know the truth. Official GDP growth, is of course on track at 6.6 percent for the year 2018, stellar among industrial and even emerging economies. But nobody believes these figures, even though they are the worst since 1990. “Real GDP fell by 1.7 percent and 0.6 percent in Q3 and Q4 respectively compared with the official figures showing growth of 6.4 percent and 6 percent,” Enodo Economics chief economist Diana Choyleva wrote in a note to clients about the annualized growth during the past two quarters of 2018. According to Choyleva, China is experiencing an unofficial recession.

While this doesn’t mean the crash and burn scenario is unavoidable, the flurry of official and unofficial economic indicators flashing red make the “take over the world” scenario quite unbelievable for the intermediate future. No matter which official indicator you look at, the Chinese economy is in decline. Retail sales growth is barely above 5 percent, the lowest level since 2003 with automobile sales crashing 13 percent. Total imports in U.S. dollar terms are down 7.6 percent in December of 2018 as compared to the year before.

The main problem of the Chinese economy is debt and overcapacity. Debt has blown up to 300 percent of GDP through the state-controlled banking system. The financing went into building trains, roads, airports, apartments, shipyards, anything that can be built. And while some of the stuff is undoubtedly useful, a lot of it is not. If it’s not useful or sustainable, it won’t generate the returns necessary to service said debt. This problem could have been nipped in the bud, but Chinese central planners wanted ever more steel mills and high speed trains and push back the day of reckoning when most of the unprofitable companies would go bankrupt. So in order to keep the gravy train running, more debt had to be issued to build more stuff.

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TEXT

How Fast Housing Markets in Sydney & Melbourne Are Coming Unglued (WS)

“Can we still describe this as an orderly slowdown in housing conditions?” mused CoreLogic Asia Pacific’s head of research Tim Lawless about the Australian housing market today. Over the last three months, the index for Sydney dropped 4.5%, and the index for Melbourne 4.0%, the “largest rolling quarterly fall since at least the 80’s.” Across the metro area of Sydney, prices of all types of homes combined, according to CoreLogic’s Daily Home Value Index, fell 1.35% in January from December, the third month in a row with a monthly decline of over 1%. The 4.5% decline over the past three months pencils out to an annual rate of decline of 17%. The index is now down about 12% from its peak in July 2017. Note the accelerating decline over the past three months:

The 12% drop from the peak in July 2017 pushed the index back where it been in July 2016 – which shows how crazy and unsustainable the price boom had been on the way up. Now it is getting unwound at a slightly slower pace on the way down. Over the 12-month period through January, the index fell 9.7%, with house prices down 10.9% and condo prices down 6.9%. At the same time, the number of homes of all types listed for sale in the Sydney metro jumped by 24%. [..] In the Melbourne metro, the second largest market in Australia, the housing bust is also taking on momentum, instead of slowing down, but started about four months behind Sydney’s. According to the CoreLogic Daily Home Value Index, since the peak in November 2017, prices of all types of homes fell about 9%, which pushed prices back to January 2017 levels. Note the acceleration over the past three months:

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US sanctions deprive Maduro of food and medicine. Seen as a way to create a revolt.

Venezuela To Sell Gold Reserves To UAE Without Russia’s Help (RT)

Caracas plans to sell 29 tons of gold to the United Arab Emirates in return for euro in cash, Reuters cites a senior government official as saying. The money is needed to provide liquidity for imports of basic goods.
According to the official, the sale of the nation’s gold began with the shipment of 3 tons on January 26, following the export last year of $900 million in unrefined gold to Turkey. The source denied Moscow’s involvement in the operation after rumors circulated this week that mysterious Russian-operated airplanes arrived in the country and planned to leave with Venezuelan gold on board. That is incorrect, according to the official. Caracas reportedly needs cash for imports of basic products that it sells to the population at subsidized prices.

A possible explanation for the payment for the gold in euros is US sanctions, which restrict Venezuela’s use of the dollar. Venezuela’s central bank reportedly began to sell gold reserves to allied countries after supplies of unrefined gold from small mines began to run low. The bank held 150 tons of gold in January 2018. By the end of November holdings had fallen to 132 tons between the central bank’s vaults and the Bank of England, according to central bank data. The Bank of England has refused to return an estimated 31 tons of Venezuelan gold worth $1.2 billion. Bankers in Britain are allegedly concerned that Venezuelan officials would sell state-owned gold “for personal gain.”

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“..this same mistake was made in Libya, and everyone today recognizes it. We must prevent the same thing happening in Venezuela.”

Italy Rejects Guaido, Says Venezuela is a Sovereign State (Telesur)

On Thursday the Italian Government withdrew from the position assumed by the European Parliament and informed that it does not recognize Juan Guaido as “president in charge” of Venezuela. “Italy does not recognize the self-proclaimed President Juan Guaido,” Italy’s Undersecretary of Foreign Affairs, Manlio Di Stefano, said. The senior official explained that Italy is “totally against” that a country or a group of countries “can determine the internal policies” of a sovereign State. “This is called the principle of non-intervention and is enshrined by the United Nations,” Di Stefano said. He also expressed the Italian Government’s concern to prevent a warlike confrontation in the South American nation and stressed that “this same mistake was made in Libya, and everyone today recognizes it. We must prevent the same thing happening in Venezuela.”

Last Wednesday the Italian Prime Minister, Giuseppe Conte, warned the international community that it is not “prudent” to support one of the opposing parties in Venezuela, since “an invasive attitude would generate more division in the world.” “We do not consider it opportune to rush to recognize investitures that have not gone through an electoral process,” said Conte. Nevertheless, violating international law, and adding to the U.S.-driven coup d’état, the European Parliament approved a resolution Thursday that recognizes Juan Guaido as Venezuela’s “interim president.”

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With just 56 days left, great moment to start.

Whitehall Begins ‘Serious Work’ On Customs Union With EU (Ind.)

Whitehall officials have begun “serious work” on the UK staying in a permanent EU customs union as a route to rescuing the Brexit deal, despite Theresa May ruling out the move, The Independent can reveal. Preparations are underway at a high level, amid a belief the beleaguered prime minister will be forced to offer the potentially crucial compromise to Labour. Ms May has repeatedly rejected a customs union – fearing a further revolt by anti-EU Tories – but some cabinet ministers are pushing her to accept that the red line will have to be dropped if her deal is to be rescued. They believe it could tempt scores of Labour MPs to back the deal when it returns to the Commons, even if Jeremy Corbyn himself still refuses to drop his opposition.

Now a well-placed Whitehall source has told The Independent: “There is serious work going on about a customs union. We need to be prepared, so we are ready if the politics moves in that direction.” Although the prime minister has not yet been won over, she will come under fierce pressure if, as expected, the EU rejects her plea to replace the backstop – before fresh Commons votes in just 12 days’ time. The concession of a customs union is unlikely to be enough to persuade Mr Corbyn to throw his weight what he is determined to brand “a Tory Brexit”, but many Labour MPs are expected to switch sides. Furthermore, despite inevitable Tory outrage, some Conservative MPs could be persuaded that a customs union would make it less likely the Irish backstop they oppose – designed to guarantee an open border – will ever be needed.

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“To storm my house with greater force than was used to take down (Osama) bin Laden or El Chapo or Pablo Escobar, to terrorise my wife and my dogs, is unconscionable..”

Judge Considers Gag Order On Roger Stone And Prosecution (BBC)

The judge overseeing the criminal case against ex-Trump campaign adviser Roger Stone says she is considering a gagging order on both him and the prosecution. Judge Amy Berman Jackson said the case was “a criminal proceeding and not a public relations campaign”. Mr Stone has been charged on seven counts by special counsel Robert Mueller, including witness tampering and lying to Congress. He denies any wrongdoing and has made frequent jibes against Mr Mueller. Mr Stone, 66, a longstanding ally of the president, has previously vowed to resist any gagging order, saying on Tuesday: “I will fight and the deep state is in panic mode.”

Mr Mueller is overseeing an investigation into alleged Russian meddling in the 2016 presidential election and whether Donald Trump’s campaign conspired with Moscow. President Trump denies collusion, calling the investigation “a witch hunt”, and the Kremlin denies any meddling. At a court hearing in Washington on Friday, Judge Jackson cited a number of “extrajudicial statements by the defendant”. She said that if a gagging order was imposed, Mr Stone would still be able to talk to the media about issues not connected to the case. She asked both sides to respond to the possible order by 8 February. The charges against Mr Stone are linked to an alleged Russian-led hack into the emails of Democratic Party officials. The information contained in the emails was released by Wikileaks during the 2016 campaign.

Since his arrest, Mr Stone has given a string of media interviews. He has been highly critical of his arrest, describing it as political theatrics. “To storm my house with greater force than was used to take down (Osama) bin Laden or El Chapo or Pablo Escobar, to terrorise my wife and my dogs, is unconscionable,” he told reporters. He has accused Mr Mueller of running a politically motivated “inquisition”. In an interview with Reuters, Mr Stone dismissed the charges as “process crimes” with no intentional lies. He said any failure to disclose emails or texts had been an “honest mistake”. In a phone interview with conspiracy theorist Alex Jones on his radio programme Infowars, Mr Stone said he intended to “fight for my life”.

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“This not only means they are supplied with state-of-the-art weaponry; it also means those weapons are being maintained by other Nato members. ”

America’s Kurdish Allies Risk Being Wiped Out – By NATO (Graeber)

Remember those plucky Kurdish forces who so heroically defended the Syrian city of Kobane from Isis? They risk being wiped out by Nato. The autonomous Kurdish region of Rojava in Northeast Syria, which includes Kobane, faces invasion. A Nato army is amassing on the border, marshaling all the overwhelming firepower and high-tech equipment that only the most advanced military forces can deploy. The commander in chief of those forces says he wants to return Rojava to its “rightful owners” who, he believes, are Arabs, not Kurds. Last spring, this leader made similar declarations about the westernmost Syrian Kurdish district of Afrin. Following that, the very same Nato army, using German tanks and British helicopter gunships, and backed by thousands of hardcore Islamist auxiliaries, overran the district.

According to Kurdish news agencies, the invasion led to over a 100,000 Kurdish civilians being driven out of Afrin entirely. They reportedly employed rape, torture and murder as systematic means of terror. That reign of terror continues to this day. And the commander and chief of this Nato army has suggested that he intends to do to the rest of North Syria what he did to Afrin. I am speaking, of course, of president Recep Tayyip Erdogan, who is, increasingly, Turkey’s effective dictator. But it’s crucial to emphasize that these are Nato forces. This not only means they are supplied with state-of-the-art weaponry; it also means those weapons are being maintained by other Nato members. Fighter jets, helicopter gunships, even Turkey’s German-supplied Panzer forces – they all degrade extremely quickly under combat conditions.

The people who continually inspect, maintain, repair, replace, and provide them with spare parts tend to be contractors working for American, British, German or Italian firms. Their presence is critical because the Turkish military advantage over Northern Syria’s “People’s Defense Forces” (YPG) and “Women’s Defense Forces” (YPJ), those defenders of Kobane that Turkey has pledged to destroy, is entirely dependent on them. That’s because, aside from its technological advantage, the Turkish army is a mess. Most of its best officers and even pilots have been in prison since the failed coup attempt in 2016, and it’s now being run by commanders chosen by political loyalty instead of competence. Rojava’s defenders, in contrast, are seasoned veterans. In a fair fight, they would have no more problem fending off a Turkish incursion than they had driving back Turkish-backed Jihadis in the past.

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Precautionary principle. The only response.

Rigging the Science of GMO Ecotoxicity (Latham)

Researchers who work on GMO crops are developing special “artificial diet systems”. The stated purpose of these new diets is to standardise the testing of the Cry toxins, often used in GMO crops, for their effects on non-target species. But a paper published last month in the journal Toxins implies a very different interpretation of their purpose. The new diets contain hidden ingredients that can mask Cry toxicity and allow them to pass undetected through toxicity tests on beneficial species like lacewings (Hilbeck et al., 2018). Thus the new diets will benefit GMO crop developers by letting new ones come to market quicker and more reliably. Tests conducted with the new diets are even being used to cast doubt on previous findings of ecotoxicological harm.

The resulting crops are usually called Bt crops. Cry toxins kill insects that eat the GMO crop because the toxin punches a hole in the membranes of the insect gut when it is ingested, causing the insect to immediately stop feeding and eventually die of septicaemia. Cry toxins are controversial. Although the biotech industry claims they have narrow specificity, and are therefore safe for all organisms except so-called ‘target’ organisms, plenty of researchers disagree. They suspect that Cry toxins may affect many non-target species, even including mammals and humans (e.g. Dolezel et al., 2011; Latham et al., 2017; Zdziarski, et al., 2018).

The Cry toxin mode of action, we and others have noted, does not necessarily discriminate between species. Any organism with a membrane-lined gut is, in principle, vulnerable if it consumes the GMO Bt crop. In these Bt crops the leaves, straw, roots, nectar, and pollen, all typically contain Cry toxins. Therefore, most organisms in agricultural landscapes will at some point in their life-cycle be exposed to GMO plant material. As pollinator declines and a more generalised insect apocalypse have revealed, the question of the effects of such crops on biodiversity is far from trivial.

—————

GMO Cry toxins
Cry toxins are a family of highly active protein toxins originally isolated from the gut pathogenic bacterium Bacillus thuringiensis (Latham et al., 2017). They confer insect-resistance and up to six distinct ones are added to GMO corn, cotton, and other crops (Hilbeck and Otto, 2015).

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Jan 272019
 


René Magritte L’éternité 1935

 

Mueller Hunt For Russia Collusion Turns Into Circus Show With Stone (Turley)
Disgraced Wasserman-Schultz Now ‘Fixing’ Democracy In Venezuela (RT)
Non-Yellow-Vest Protests Are Good? Macron Hails Venezuela Coup Attempt (RT)
Ireland Dismisses Suggestion It Should Quit EU And Join UK (G.)
Only Two Votes Really Matter Now On Brexit (Ind.)
Juncker Warns May: Permanent Customs Union Is Price For Revisiting Backstop (G.)
UK Firms Plan Mass Exodus If May Allows No-Deal Brexit (O.)
Airbnb Contributes To Poor Housing Markets (Ind.)
British Museum ‘Rules Out’ Returning Parthenon Marbles To Greece (Ind.)
Late-Night With The Democrats (G.)

 

 

“.. if a deer could run over itself, then Stone is the ultimate roadkill defendant.”

Mueller Hunt For Russia Collusion Turns Into Circus Show With Stone (Turley)

This is not the big game that Robert Mueller was hunting when he began his investigation of Russian interference in the 2016 presidential election. Despite the breathless news coverage, the indictment is underwhelming and far from what many predicted. As for the media, it seems to be only counting heads of Trump associates indicted, as opposed to what they were actually charged with. The media has long described Stone as the possible Trump campaign conduit to WikiLeaks and the Russians, citing his presumed communications with Julian Assange and his advance knowledge of the Democratic Party and Clinton campaign email hacks.

Yet, none of that was confirmed or even suggested in the indictment. There was no charge of collusion. No hint of meetings or arrangements with Assange. Not even a charge as an unregistered foreign agent of the Russians. Just collateral crimes with nary a mention of collusion and a defendant who alternatively presents himself as the tragically comic and the comically tragic figure mired in the special counsel investigation.

Indeed, if a deer could run over itself, then Stone is the ultimate roadkill defendant. Mueller has relentlessly pursued him for almost two years, and Stone has equally relentlessly taunted him and his team. Various grand jury witnesses recounted being questioned about Stone and theories of collusion for months. Mueller worked every evident angle before bringing down this indictment in what could be the final charging stage of his investigation. It was only last month that Mueller asked for the transcript of the testimony of Stone before Congress. Largely based on alleged false statements, the entirety of the indictment comes out of that transcript.

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The Democrats have dozens if not hundreds of people they must urgently get rid of, or they’ll never win another election. Wasserman-Schultz was thrown out for treachery vs Bernie. And now she’s back?

Disgraced Wasserman-Schultz Now ‘Fixing’ Democracy In Venezuela (RT)

Regime change and foreign interventions are things that the two US ruling parties agree on regardless of how much they exchange blows at home. Venezuela is the latest place where Republicans and Democrats have found common ground. If you watch the US media, you know what is happening in Venezuela: Dictator Nicolas Maduro is brutally suppressing the people he has been robbing for years, and now they have revolted and elected a true representative of their interest, the one true legitimate acting president Juan Guaido. And now it’s up to America to ‘fix’ democracy by whatever means necessary.

The House Foreign Affairs Committee has even offered a simple explanation on how a ‘dream team’ of Democrats have prepared a package of laws, which will ensure Venezuela’s transition into a better future. Debbie Mucarsel-Powell will be bringing humanitarian aid, Donna Shalala will stop the arming of Maduro’s thugs with batons and tear gas, while Debbie Wasserman Schultz gets arguably the hardest task of them all – taking on Russia’s President Vladimir Putin. You know, the one who – according to the current dogma of the American left establishment – already denied the Democrats the presidency in 2016 and whose puppet Donald Trump is currently trying to topple the Venezuelan government for some reason that only a 5-dimensional-chess master can understand.

Wasserman Schultz may hold a personal grudge against Putin. She had to resign as the Chair of the Democratic National Committee after leaked documents revealed how it was playing on the side of Hillary Clinton and against Bernie Sanders in 2016. The leak is widely attributed to Russia by American politicians and media. The irony of Wasserman Schultz now being on the frontline of bringing democracy to Venezuela didn’t go unnoticed by Jill Stein, the head of the Green Party. But who cares? Americans were told already that Stein is just a Putin tool stealing votes from Clinton and working for RT. Those were smears, but ‘alternative facts’ are not an invention of the Trump administration. Opposing Washington’s regime change is a dangerous cause. Say a word of doubt, and you’ll find yourself in a virtual concentration camp for Putin puppets, Assad apologists and Maduro mouthpieces.

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Coverage of the Gilets Jaunes’ Acte XI is sparse. Given the extreme level of police violence, that is a bit weird. There are tons of videos, like of people losing eyes to police rubber bullets. Macron is damning his own presidency.

Non-Yellow-Vest Protests Are Good? Macron Hails Venezuela Coup Attempt (RT)

Emmanuel Macron has praised the “courage” of Venezuelan protesters but fell short of recognizing self-declared “acting president” Juan Guaido. His desire to exert influence on Latin America could back him into a corner in Paris. “After the illegal election of Nicolas Maduro in 2018, Europe supports the restoration of democracy. I salute the courage of the hundreds of thousands of Venezuelans marching for their freedom,” Emmanuel Macron tweeted in French on his official account. The French leader went beyond the official statement from the EU, which has called for “an immediate political process leading to free and credible elections, in conformity with the constitutional order” although President Maduro’s second term officially runs to 2024.

Macron might be backing himself into a corner with his desire to exert influence on the situation in Venezuela and elevate his status on the international arena against a backdrop of a quite precarious situation at home, Chris Reynolds, an Associate Professor in Contemporary French and European Studies at the Nottingham Trent University, believes. “We can see a direct contradiction here between the domestic situation and Macron’s [statement] on this emerging situation in Venezuela,” Reynolds told RT, adding that the president’s response to the domestic Yellow Vests protests was “quite strong.” France has been gripped by massive weekly protests since November. United under the umbrella movement known as the Yellow Vests, the demonstrators, who first turned to the streets to protest fuel price hikes, are now expressing their discontent over Macron’s broader reform agenda.

Protests have often been marred by violence and were met with heavy police response as well as condemned by the president. With his sudden support for the Venezuelan street protests, Macron “opens himself up to criticism,” the professor said. “Those people, who would seek to criticize Macron will see a contradiction between his ambiguous support for the Venezuelan street protests [and his reaction to domestic protests] and therefore will have material to criticize him.” The fact that Macron stopped short of backing Guiado directly, and opted for a more vague statement instead, shows that he is well aware of this contradiction. “Macron finds himself in a situation, in which he cannot overtly express support to the Venezuelan opposition political leader, who has been brought to the fore on the back of the street protests,” Reynolds said.

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But you’re our colony!

Ireland Dismisses Suggestion It Should Quit EU And Join UK (G.)

Ireland has dismissed the suggestion that the best solution to the Brexit impasse might be for the country to quit the EU and join the UK. Questioned about the possibility by the BBC Today presenter John Humphrys, Ireland’s Europe minister, Helen McEntee, said it was not contemplating quitting the EU, that polls showed 92% of the population wanted to remain in the bloc, and “Irexit” was not plausible. She told the Radio 4 programme on Saturday that, in the event of no deal, Ireland was “not planning for the reintroduction of a border”, and urged the UK to honour its commitment to ensure the border remained invisible, as it had since the Good Friday peace deal was signed nearly 21 years ago.

Humphrys said: “There has to be an argument, doesn’t there, that says instead of Dublin telling this country that we have to stay in the single market etc within the customs union, why doesn’t Dublin, why doesn’t the Republic of Ireland, leave the EU and throw in their lot with this country?” McEntee replied: “To suggest that we should leave? Ninety-two per cent of Irish people last year said they wanted Ireland to remain part of the European Union and in fact since Brexit that figure has gotten only bigger.” The interview came hours before hundreds of people gathered on the border to protest against Brexit.

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Big one coming up on Tuesday. Could take May’s powers away. But you’re right: they have far too many votes.

Only Two Votes Really Matter Now On Brexit (Ind.)

Tuesday will be a big day in the Brexit story. We have had historic votes and critical moments before, but this is up another notch. The vote on the amendment jointly proposed by Yvette Cooper, Labour MP, and Nick Boles, Conservative MP, will be both historic and critical. It will be historic because it is the first time since the 17th century that the House of Commons has tried to take control of the nation’s affairs from the government. And it will be critical because no one knows which way the vote will go. The Cooper-Boles plan is to take no-deal Brexit “off the table” by requiring Theresa May to seek to postpone our departure from the EU if a deal has not been approved in time. The vote will be no mere expression of opinion.

If the amendment is passed, it will change the rules of the Commons to allow a bill drafted by Cooper and Boles to be rushed into law on 5 February. There is some talk of this bill being blocked by Eurosceptic peers in the House of Lords, which would have to whizz it through on the same day. Unlike the Commons, the Lords doesn’t have rules for timetabling debates, which means a small group of peers could keep talking to prevent votes. But Labour and Liberal Democrat peers insist that the huge majority opposed to a no-deal Brexit in the House of Lords would invent new rules, if needed, to get the bill through.

[..] Most attention is focused on an amendment which supports the withdrawal agreement, but only if the Ireland backstop is “replaced with alternative arrangements to avoid a hard border”. This wouldn’t be binding, and won’t pass unless the government or the official opposition support it, but its significance will be as a show of strength on the Tory back benches. Clever people think that if this amendment attracts a lot of votes it will strengthen the prime minister’s hand in going back to Brussels to ask for changes. Olly Robbins, May’s chief negotiator, is said to have drafted nine options for trying to make the backstop more palatable to Tory MPs who find it so objectionable they would rather leave without a deal.

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Trying to be funny?!

“Critics of May’s deal believe that the backstop [..] could trap the UK in an indefinite customs union.”

And then Juncker says renegotiating the backstop does just that. That logic says whatever you do, you’re stuck with the customs union.

Juncker Warns May: Permanent Customs Union Is Price For Revisiting Backstop (G.)

Jean-Claude Juncker has told Theresa May in a private phone call that shifting her red lines in favour of a permanent customs union is the price she will need to pay for the EU revising the Irish backstop. Without a major shift in the prime minister’s position, the European commission president told May that the current terms of the withdrawal agreement were non-negotiable. Details of the call, contained in a leaked diplomatic note, emerged as Juncker’s deputy, Frans Timmermans, said there had been no weakening of the resolve in Brussels in support of Ireland, and accused the Tory Brexiters of a “cavalier” approach to peace. “Let me be extremely clear: there is no way I could live in a situation where we throw Ireland under the bus,” Timmermans said.

“As far as the European commission is concerned, the backstop is an essential element for showing to Ireland and to the rest of Europe that we are in this together.” On Tuesday, the Commons will vote on a series of amendments that might variously force the prime minister to delay Brexit or go back to Brussels to demand the ditching of the Irish backstop or a time limit on its enforcement. Critics of May’s deal believe that the backstop, an “all-weather” solution for avoiding a hard border on the island of Ireland, could trap the UK in an indefinite customs union, limiting the country’s ability to pursue an independent trade policy. May’s deal was rejected this month by a historic 230 votes.

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It’s a surprise any would want to stay.

UK Firms Plan Mass Exodus If May Allows No-Deal Brexit (O.)

Thousands of British companies have already triggered emergency plans to cope with a no-deal Brexit, with many gearing up to move operations abroad if the UK crashes out of the EU, according to the British Chambers of Commerce. Before a crucial week in parliament, in which MPs will try to wrest control from Theresa May’s government in order to delay Brexit and avoid a no-deal outcome, the BCC said it believed companies that had already gone ahead with their plans represented the “tip of the iceberg” and that many of its 75,000 members were already spending vital funds to prepare for a disorderly exit. It said that in recent days alone, it had been told that 35 firms had activated plans to move operations out of the UK, or were stockpiling goods to combat the worst effects of Brexit.

Matt Griffith, director of policy at the BCC’s west of England branch, said that many more companies had acted to protect themselves since May’s Brexit deal was decisively rejected by MPs in the Commons earlier this month. He said: “Since the defeat for the prime minister’s deal, we have seen a sharp increase in companies taking actions to try and protect themselves from the worst effects of a no-deal Brexit. No deal has gone from being one of several possible scenarios to a firm date in the diary.” Labour MP Yvette Cooper has revealed to the Observer that two major employers in her West Yorkshire constituency – luxury goods manufacturer Burberry and confectioner Haribo – had both written to her, warning of the damaging effects of no deal on their UK operations.

[..] Last week some of the UK’s largest employers – including Airbus, Europe’s largest aerospace manufacturer, which employs 14,000 people in the UK and supports another 110,000 through supply chains – warned of potentially disastrous effects of no deal on its UK activities. Tom Enders, the boss of Airbus, said: “Please don’t listen to the Brexiters’ madness, which asserts that because we have huge plants here we will not move and we will always be here. They are wrong.”

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Houses are places where people live. Any other use is detrimental.

Airbnb Contributes To Poor Housing Markets (Ind.)

A recent report by a Toronto public interest group, Fairbnb, has added a local voice to the growing international chorus of concern about the impact of Airbnb on housing. It is now clear that a single American company has upended local markets, pushed rental prices skyward and could be contributing to poverty, especially in cities popular with tourists. Toronto City Council was slow to recognize the dangers posed by Airbnb, not only to unionized hotel workers but also to the million-plus tenants who need stable and affordable accommodation. Late in 2017, regulations were put in place making it difficult for deep-pocketed investors to buy multiple condos for the purpose of listing them on Airbnb.

But Airbnb hosts appealed against the legislation to Ontario’s Local Planning Appeal Tribunal. Six commercial operators added their voice. The hearings on the new bylaw are set for August 2019. In the meantime, there are no rules. Limiting Airbnb to some version of its initial ideal of “home sharing” is crucial. In 2018, 16 per cent of Toronto Airbnb hosts controlled 38 per cent of the listings, and the problem is worsening, with some downtown condos having hundreds of units listed on Airbnb, according to the Fairbnb report. The study concludes that Airbnb is responsible for countless illegal “ghost hotels”. What’s more, the report notes that if Toronto’s new rules were to come into force, more than 8,200 listings would have to be removed, and up to 6,500 whole homes would be available to boost the supply of long-term family rental housing.

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Imperial powers still rule. So stand up to them. Tell the Brits they’re not welcome until they give back what they stole. Not a single one of them. Let them fix their issues at home first.

British Museum ‘Rules Out’ Returning Parthenon Marbles To Greece (Ind.)

The director of the British Museum has appeared to rule out returning the Elgin Marbles to Greece after its government demanded Britain open negotiations over their return last year. The 2,500-year-old marble sculptures were removed from the Parthenon Temple on the Acropolis in Athens by the Ottoman ambassador Lord Elgin in the early 1800s. Lord Elgin sold the marbles to the British government, who passed them on to the British Museum in 1817 where they remain one of its most prized exhibits. Debate over where the sculptures should be located has raged for more than 200 years, with Labour leader Jeremy Corbyn pledging to return them to Greece if he becomes prime minister.

In August, Greek culture minister Lydia Koniordou invited UK officials to meetings in Greece to discuss the statues’ return in the midst of Brexit talks as Britain sought allies around Europe. In an interview with Ta Nea, Greece’s daily newspaper, British Museum director Hartwig Fischer said: “The Trustees of the British Museum feel the obligation to preserve the collection in its entirety, so that things that are part of this collection remain part of this collection.” Asked if he thinks the Greek people are right to want the Parthenon sculptures back, he told the newspaper: “I can certainly understand that the Greeks have a special and passionate relationship with this part of their cultural heritage. “Yes, I understand that there is a desire to see all of the Parthenon Sculptures in Athens.”

The other half of the Parthenon Sculptures are currently in the Acropolis Museum in Greece. For several decades, Greece has called for the reunification of the statues and has sent several formal requests, threatened legal action and proposed solutions such as mediation by Unesco. Supporters of the Greek position say although Lord Elgin said he had the permission of officials of the ruling Ottoman Empire to take the sculptures, the empire was a foreign force and had no right to let the artefacts go. When Mr Fischer was asked about Mr Corbyn’s pledge to return the Elgin Marbles to Greece if he became prime minister, he said: “I think that this is Mr Corbyn’s personal view on the question, that you take note of. “Obviously, that is not the stance and the view of the Trustees of the Museum.”

Asked by Ta Nea if he would accept that Greece is the legal owner of the Parthenon Sculptures, he replied: “No, I would not. The objects that are part of the collection of the British Museum are in the fiduciary ownership of the Trustees of the Museum.”

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I’m guessing this divides America in two along a very sharp dividing line. What I see of it (not much) is Trevor Noah being an embarrassment to Jon Stewart, and Colbert having completely lost his mojo after he shed his right-wing persona. They do what the media do: play safe, keep feeding your followers what you know they want. Anti-Trumpism.

But if there’s one thing humor needs to thrive, it’s surprise. And none of this pretend humor has any of that. It’s all just devolved into a painfully predictabe word-play game. Letterman wouldn’t have gone there, Jon Stewart wouldn’t. Humor can’t just confirm people’s fixed opinions, there’s nothing funny about that.

Late-Night With The Democrats (G.)

Diners and town halls. Iowa and New Hampshire. The Rachel Maddow Show and The Late Show with Stephen Colbert. While some campaign stops for Democrats running for president are very familiar, others reflect how the rise of liberal media hosts, late night comedians and “going viral” online could make all the difference in a tight race. Senator Kirsten Gillibrand has appeared twice in three months on Colbert’s programme on the CBS TV network, first to promote her book, then for the big reveal about 2020. Colbert asked: “Do you have anything you would like to announce?” She replied: “I’m filing an exploratory committee for president of the United States, tonight!”

Other guests on The Late Show, filmed before an audience at the Ed Sullivan Theater in New York and broadcast at 11.35pm, have included Eric Holder, Cory Booker, John Kerry, Beto O’Rourke, Amy Klobuchar, Bernie Sanders, Julián Castro (who appeared with twin brother Joaquin) and Kamala Harris, all of whom have declared their candidacy or are said to be considering it. A recent CNN article was headlined: “Welcome to the Stephen Colbert primary.” Colbert, 54, who cut his teeth in improvisational comedy, has earned it. Future historians could do worse than watch the bitingly satirical take-downs of Donald Trump in his opening monologues. His edgy political wit has catapulted him past Jimmy Fallon in the late night ratings and drawn interviewees including Hillary Clinton, Michelle Obama, Alexandria Ocasio-Cortez and Nancy Pelosi.

“Any Democratic candidate who thinks they can ignore Stephen Colbert might as well not run for president,” said Stephen Farnsworth, director of the Center for Leadership and Media Studies at the University of Mary Washington in Fredericksburg, Virginia. “Colbert once joked that the road to the White House runs through his show but it’s no joke; it is exactly so.”

[..] Maddow scooped the first interview with Warren after the Massachusetts senator announced she was formally exploring a run for the White House. She asked Gillibrand pointed questions about her shifting policy positions. Last week she questioned Harris and Ohio senator Sherrod Brown, another possible candidate. All seemingly regard Maddow’s show as a hotline to the anti-Trump resistance. Bob Shrum, a Democratic strategist who was an adviser to the Al Gore and John Kerry presidential campaigns, said: “I think she’s terrific. She’s incisive, she’s smart, she has her own views on things and, by the way, she doesn’t disguise them: they’re right out in the open.”

Robert Lichter, professor of communication at George Mason University in Fairfax, Virginia, said: “With the Democratic party moving to the left, she’s positioned to become a kingmaker. She’s a highly respected liberal and can make or break a candidacy early on by exposing someone who doesn’t know what they’re talking about. Candidates will try to aim through Colbert’s jokes and Maddow’s seriousness.”

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Apr 232018
 
 April 23, 2018  Posted by at 9:49 am Finance Tagged with: , , , , , , , , , ,  


Russell Lee Highway tavern. Crystal City, Texas 1939

 

A Google Breakup Would Fit the EU’s Logic (BBG)
Customs Union U-Turn By May Could Inspire Brexiter Cabinet Revolt (G.)
The Windrush Story Was Not A Rosy One Even Before The Ship Arrived (G.)
Britain, Headquarters Of Fraud (G.)
China Q1 Imports From North Korea Fall 87% Year-On-Year (R.)
How China Is Buying Its Way Into Europe (BBG)
China Factory Crackdown Masks Sweeping Takeover By The State (BBG)
Canadians Just Set A New Record For Borrowing Against Their Homes (BD)
MSM Is Frantically Attacking Dissenting Syria Narratives (CJ)
WikiLeaks To Countersue Democrats; “Discovery Is Going To Be Amazing Fun” (ZH)
One In Eight Bird Species Is Threatened With Extinction (G.)

 

 

Does Google think it can win this?

A Google Breakup Would Fit the EU’s Logic (BBG)

On Thursday, the European Parliament backed the idea of breaking up Google. It doesn’t have the power to do it, but the legislators’ decision is a notable part of a backlash against the remedial action Google took after the European Commission fined it 2.4 billion euros ($2.95 billion) for abusing its dominant position in shopping search. That backlash can lead to dire consequences for the search giant. The commission found last June that by giving its own product comparison service, Google Shopping, prime “real estate” at the top search result pages, Google was hampering competition for independent shopping comparison websites. The company’s remedy is to hold auctions for spaces in the special box in which comparison results appear if a user searches for a product to buy.

Google Shopping bids in these auctions on the same terms as its rivals, and Google has promised to keep the service profitable so it can’t outbid the competition every time with the company’s vastly superior resources. Yet, months after the remedy was applied, it’s next to impossible to run into a non-Google offer in that box. The original complainants, notably the U.K. firm Foundem, have been campaigning to have Google declared non-compliant. Foundem’s argument is laid out in an interactive presentation released on April 18. The British company argues that even though Google claims to run Google Shopping at arm’s length, it’s merely an obfuscation, a meaningless accounting arrangement. In reality, Google as a whole still harvests 100% of the profit from the ads in runs after winning auctions – plus 80% of the profits from competing services’ ads in the form of their winning bids.

“While Google’s promise to run Google Shopping at a notional ‘profit’ may allow rival services to bid their way into ‘the box,’ it does nothing to address the seismic inequality between bids that cost you nothing and bids that cost you most of your incentive and ability to innovate and grow,” Foundem wrote in the presentation. The annual report on competition policy from the European Parliament’s Committee on Economic and Monetary Affairs, which the legislature approved on Thursday, shows that at least some in the “Brussels bubble” that rules the EU are receptive to Foundem’s argument. “Without a full-blown structural separation between the company’s general and specialised search services, an auction-based approach might not deliver equal treatment,” the report says.

[..] If Google is declared non-compliant, its parent company, Alphabet Inc., can be forced to pay up to 5 percent of its daily turnover for every day that it has violated the commission’s ruling, meaning, theoretically, since last September. Taking Alphabet’s average daily revenue in the fourth quarter of 2017 as a base, that’s about $17.6 million a day for seven months and counting. This could end up being worse than the original fine, which Google is appealing. Even a breakup could be preferable to paying this sort of penalty for a protracted period.

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The mess spreads.

Customs Union U-Turn By May Could Inspire Brexiter Cabinet Revolt (G.)

Theresa May could face a cabinet revolt on a customs union as peers prepare to inflict more defeats on the government over the EU withdrawal bill in a key week for the future of the UK’s relations with Europe. Amid Brexiter threats of a leadership challenge, the former cabinet minister Nicky Morgan, who chairs the Treasury committee, said party rebels should be careful what they wished for. “This sabre-rattling is not coming from the section of the party that I represent. It is coming from the pro-Brexit section of the party and is deeply unhelpful,” she said. Government hopes of avoiding a hard border in Ireland either through technological innovation or regulatory alignment have been set back after they were rejected during preliminary negotiations in Brussels.

That has led to speculation that May is preparing to concede on a customs union, which has been a red line since the prime minister’s conference speech in October 2016. Reports over the weekend suggested a “wargaming” exercise into the consequences of a concession showed that not even leading Brexiters such as Michael Gove, the environment secretary, or Boris Johnson, the foreign secretary, would resign. But a source close to Gove reiterated his opposition: “Michael believes respecting the referendum result means taking back control of trade policy. He fully supports the prime minister’s position that this means leaving the customs union.” Although the loss of other pledges in negotiations have been reluctantly accepted, such as the promise to reclaim control over fishing quotas from March 2019, accepting continued membership of a customs union would be of a different and much larger scale.

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Superiority complex writ large

The Windrush Story Was Not A Rosy One Even Before The Ship Arrived (G.)

This is a year so overflowing with anniversaries that it was perhaps always going to draw our attention to the histories of race and migration in Britain. June marks the 70th anniversary of the arrival of the Empire Windrush at Tilbury Docks, carrying 492 West Indians who were looking to rewrite their fortunes in a Britain desperate for labour. The Windrush is now so much part of British history that almost instantly it became the shorthand used to describe the generation of black Britons whose plight has so shocked the country.

Friday 20 April was an anniversary of a darker kind, 50 years since Enoch Powell delivered his “rivers of blood” speech. That toxic diatribe, with its unsubtle references to “piccaninnies” and the “whip hand”, remains politically radioactive half a century later, as Radio 4 discovered last weekend when it broadcast the speech in an anniversary documentary. Today is the sombre anniversary of the murder of Stephen Lawrence, 25 years ago.

But there is another 2018 anniversary that, until last week, might well had passed by quietly, hardly noticed. This year marks 70 years since the passing of the 1948 British Nationality Act, which was being debated while the Windrush was crossing the Atlantic; gaining royal ascent in July 1948, as the Windrush pioneers were settling into their new jobs. Although now obscure, it was a law that Powell once referred to as “that most evil statute”. Much of what has happened over the past week can be traced back to that forgotten but critical piece of legislation. The act was intended to reaffirm what many in the late 1940s regarded as a “time-honoured principle”, the doctrine that all British subjects should have the automatic right to travel to and settle in the United Kingdom.

[..] Even before the Windrush had left Jamaica, the prime minister, Clement Attlee, had examined the possibility of preventing its embarkation or diverting the ship and the migrants on board to East Africa. After the vessel had arrived at Tilbury, the colonial secretary, Arthur Creech Jones, is said to have reassured his cabinet colleagues that, although “these people have British passports and must be allowed to land there’s nothing to worry about because they won’t last one winter in England” (detailed in Randall Hansen’s book Citizenship and Immigration in Post-War Britain). When that prediction was proved false, ministers began to consider how they might revoke the commitments enshrined in the 1948 act.

What followed was a two decade-long political struggle to change Britain’s immigration law and reduce the flow of immigrants from the so-called New Commonwealth. This is the other side of the Windrush story. In 1971, a new immigration act finally achieved that aim and stemmed the flow of migrants from the New Commonwealth. The same law granted those who had already arrived indefinite leave to remain. That would have been the end of the story, had not, in 2013, those thousands been pushed into Theresa May’s “hostile environment”. The current crisis is a relic left by the political struggle to row back from the commitments made in the 1948 act.

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Competition for the title is stiff.

Britain, Headquarters Of Fraud (G.)

Officials get fed up with accusations that Britain is a cesspool of dirty money; that they do too little to check the wealth hidden behind shell corporations. They grouse among themselves that their critics overlook the work they’re doing to expose the money flows and to drive out the corrupt. When they do get a win, therefore, they trumpet it. Last month, Companies House successfully prosecuted someone who had lied in setting up a company, the kind of white-collar crime committed by the sophisticated fraudsters who fleece ordinary Brits every day, and the government went large. “This prosecution – the first of its kind in the UK – shows the government will come down hard on people who knowingly break the law and file false information on the company register,” crowed business minister, Andrew Griffiths, in a press release.

A Warwickshire businessman called Kevin Brewer had pleaded guilty, paid a fine and the government’s costs: a total of more than £12,000. His crime had been to falsely claim that two companies he created belonged, in one case, to the MP Vince Cable, and, in the other, to the MP James Cleverly, Lady Neville-Rolfe and an imaginary Israeli. At first, the public response to the news was everything the press release’s authors could have hoped for. The Times splashed with the details of the crime – the government was tough on fraud, tough on the causes of fraud. But the victory was short-lived.

Within a month of the triumphant press release, Tory MP John Penrose, the government’s anti-corruption champion, was slamming the prosecution as “a bone-headed exercise in shooting the messenger”. Brewer may have been, by his own admission, naive, but he was trying to expose a flaw in British regulations that enables frauds totalling hundreds of billions of pounds. His reward was years of being ignored and, finally, a criminal record. “That has to be wrong,” said Penrose.

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Can we check this?

China Q1 Imports From North Korea Fall 87% Year-On-Year (R.)

China’s imports from North Korea fell 87% in the first quarter from a year earlier to 448.8 million yuan ($71.31 million), customs data showed on Monday, while exports to North Korea were down 46.1% to 2.68 billion yuan. For March, China’s exports to North Korea were 907.54 million yuan while imports from North Korea were 78.5 million yuan. China’s March total trade with North Korea was 986.07 million yuan, customs data showed.

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Cue protectionism.

How China Is Buying Its Way Into Europe (BBG)

For more than a decade, Chinese political and corporate leaders have been scouring the globe with seemingly bottomless wallets in hand. From Asia to Africa, the U.S. and Latin America, the results are hard to ignore as China has asserted itself as an emerging world power. Less well known is China’s diffuse but expanding footprint in Europe. Bloomberg has crunched the numbers to compile the most comprehensive audit to date of China’s presence in Europe. It shows that China has bought or invested in assets amounting to at least $318 billion over the past 10 years. The continent saw roughly 45% more China-related activity than the U.S. during this period, in dollar terms, according to available data.

The volume and nature of some of these investments, from critical infrastructure in eastern and southern Europe to high-tech companies in the west, have raised a red flag at the EU level. Leaders that include Angela Merkel and Emmanuel Macron are pressing for a common strategy to handle China’s relentless advance into Europe, with some opposition from the EU’s periphery. We analyzed data for 678 completed or pending deals in 30 countries since 2008 for which financial terms were released, and found that Chinese state-backed and private companies have been involved in deals worth at least $255 billion across the European continent. Approximately 360 companies have been taken over, from Italian tire maker Pirelli to Irish aircraft leasing company Avolon, while Chinese entities also partially or wholly own at least four airports, six seaports, wind farms in at least nine countries and 13 professional soccer teams.

Importantly, the available figures underestimate the true size and scope of China’s ambitions in Europe. They notably exclude 355 mergers, investments and joint ventures—the primary types of deals examined here—for which terms were not disclosed. Bloomberg estimates or reporting on a dozen of the higher-profile deals among this group suggest an additional total value of $13.3 billion. Also not included: greenfield developments or stock-market operations totaling at least $40 billion, as compiled by researchers at the American Enterprise Institute and the European Council on Foreign Relations, plus a $9 billion stake in Mercedes-Benz parent company Daimler AG by Zhejiang Geely chairman Li Shufu reported by Bloomberg.

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Anbang was just the start.

China Factory Crackdown Masks Sweeping Takeover By The State (BBG)

President Xi Jinping’s big push to curb pollution and excess capacity in steel and other industries is also consolidating his government’s control over them. Just last year, the state’s share of steel capacity increased to 67% from 60% while aluminum smelting saw about an equal increase, J Capital Research estimates. In coal, which began consolidating years earlier, the government now controls 80% of capacity compared with about 45% in 2010, according to the Hong Kong-based firm. Xi’s campaign has boosted corporate profits, ended years of deflation, and stabilized debt growth to help underpin the first full-year economic acceleration last year since 2010.

But his aim for a “bigger, better and stronger” state role also means those bloated companies risk stifling private ones, as the Communist Party strengthens its grip on the economy. Call it “de facto nationalization,” says Jude Blanchette, China practice lead at Crumpton Group in Arlington, Virginia, and a former Conference Board researcher in Beijing. “We’re clearly seeing the re-strengthening of state-owned enterprises, oftentimes at the zero-sum expense of private players. Private folks are exiting the market either because they’re pushed out or they can’t survive.” State gains in heavy industry follow a broad SOE comeback since Xi took power in 2013. Their share of fixed-asset investment stopped falling in 2014 and rebounded over the next three years, says Andrew Batson at Gavekal Dragonomics.

The state is also extending control over the private sector away from heavy industry as it cracks down on debt. Once-acquisitive insurer Anbang Insurance was seized by the government, and regulators have curtailed the activities of conglomerates including Dalian Wanda and HNA. Such consolidation may spur blowback from the U.S. and other countries. President Donald Trump already brands China a strategic rival, slapping tariffs on its goods and criticizing industrial policy for subsidizing state enterprises in a push to dominate tech sectors.

“The idea, promoted during the Zhu Rongji era, that state enterprises should be independent, profit-seeking companies that just happen to be owned by the state has essentially been abandoned,” said Batson, referring to the former premier. “The government thinks that SOEs are there to serve its overall strategic goals.”

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Words fail.

Canadians Just Set A New Record For Borrowing Against Their Homes (BD)

Canadian real estate related debt tapering? That would be ridiculous! Filings obtained from the Office of the Superintendent of Financial Institutions (OSFI) show, after a brief decline in January, the balance of loans secured by residential real estate hit a new high in February. More interesting is the segment of loans being used for personal consumption, is growing at the fastest pace in years. Loans secured by residential real estate are exactly what they sound like. They’re loans that you pledge your home equity in order to secure. The most common example would be a Home Equity Line of Credit (HELOC). You know, the same type of loan the Canadian government is discretely paying to teach you how to borrow. There’s also more productive uses, like when you start a new business and need to use your home as security – just in case you aren’t able to pay your loan shark bank back.

Either way, debt is debt. The big difference to note is a loan secured for personal reasons, is considered non-productive. The borrower isn’t expected to take a calculated risk, in order to earn more money. A business loan is considered productive, since it might generate more money. This isn’t just our opinion, banks actually classify these loans separately in their filings. Today we’ll go through the aggregate of these numbers, then break them down segment by segment. Loans secured by real estate hit a new all-time high in February. The total balance of loans secured with real estate racked up to $283.65 billion, up 0.77% from the month before. This represents a 7.79% increase compared to the same month last year. It almost looked like Canadians were reeling that debt in January, with a tiny decline. Instead it made a monster move, more than making up the ground lost the month before.

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A media war.

MSM Is Frantically Attacking Dissenting Syria Narratives (CJ)

It’s getting too blatantly obvious, like a stranger coming up to you and talking about climate change while openly masturbating; what he is doing would eclipse interest in whatever he is saying. The frenetic publication of hit pieces against anyone who fails to fall in line with the establishment Syria narrative is fast becoming the real story here. Many of these recent hit pieces are coming out of the UK, which is interesting given the way a BBC reporter recently admonished her interviewee for questioning the official story about the alleged Douma chemical attacks because his words could hurt the “information war” effort against Russia.

If this view is widespread among British journalists (and recent headlines by the Times, the Independent and the Telegraph suggest that it may be), this means we’re looking at an environment wherein reporters aren’t even pretending it’s their job to be truthful, tell all sides of a story and hold power to account, but rather to manufacture support for escalations against Russia and undermine anyone who resists. Today yet another mainstream smear piece has been published about Vanessa Beeley, an investigative journalist who has done extensive work on the ground in Syria, which the UK’s Huffington Post branch hilariously titled “How An Obscure British Blogger Became Russia’s Key Witness Against The White Helmets”.

Its author, senior Huffpo editor Chris York, doesn’t explain how we’re meant to see an investigative journalist practicing the definition of investigative journalism on the ground in a war-torn nation as “an obscure blogger”, but he has said that he has two more such articles on the way. Who do these people think they’re kidding? Are we truly meant to believe that people expressing skepticism about the authenticity of a “civil defense group” in a distant Middle Eastern country is suddenly the most dangerous thing in the world?

Are we really meant to think it’s normal for all these mass media corporations to suddenly start ferociously attacking anyone who expresses skepticism about the military agendas of western forces that have an extensive and well-documented history of using lies, propaganda and false flags to manufacture support for military agendas? Are we really meant to believe that Syria, a nation for which the US and UK have been plotting regime change for many years, is just now in sore need of humanitarian regime change? And that anyone who says otherwise just loves Bashar al-Assad, Vladimir Putin and dead babies?

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I asked before: did the DNC think this through?

WikiLeaks To Countersue Democrats; “Discovery Is Going To Be Amazing Fun” (ZH)

WikiLeaks has hit back against a multimillion-dollar lawsuit filed by the Democratic National Committee (DNC), announcing over Twitter that they are seeking donations for a counter-suit, noting “We’ve never lost a publishing case and discovery is going to be amazing fun,” along with a link which people can use to donate to the organization. Discovery is a pre-trial process by which one party can obtain evidence from the opposing party relevant to the case. The Trump campaign, which is also named in the DNC filing, says the lawsuit will provide an opportunity to “explore the DNC’s now-secret records.”

Hours after the Washington Post broke the news of the lawsuit, President Trump tweeted “Just heard the Campaign was sued by the Obstructionist Democrats. This can be good news in that we will now counter for the DNC server that they refused to give to the FBI,” referring to the DNC email breach. Trump also mentioned “the Debbie Wasserman Schultz Servers and Documents held by the Pakistani mystery man and Clinton Emails.” In a statement which goes into the various items they’ll be pursuing in court, the Trump campaign said the following: “While this lawsuit is frivolous and will be dismissed, if the case goes forward, the DNC has created an opportunity for us to take aggressive discovery into their claims of ‘damages’ and uncover their acts of corruption for the American people..”

If this lawsuit proceeds, the Trump Campaign will be prepared to leverage the discovery process and explore the DNC’s now-secret records about the actual corruption they perpetrated to influence the outcome of the 2016 presidential election. Everything will be on the table, including: • How the DNC contributed to the fake dossier, using Fusion GPS along with the Clinton Campaign as the basis for the launch of a phony investigation. • Why the FBI was never allowed access to the DNC servers in the course of their investigation into the Clinton e-mail scandal. • How the DNC conspired to hand Hillary Clinton the nomination over Bernie Sanders. • How officials at the highest levels of the DNC colluded with the news media to influence the outcome of the DNC nomination. • Management decisions by Debbie Wasserman Schultz, Donna Brazile, Tom Perez, and John Podesta; their e-mails, personnel decisions, budgets, opposition research, and more.

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It’s much worse than the title suggests.

One In Eight Bird Species Is Threatened With Extinction (G.)

One in eight bird species is threatened with global extinction, and once widespread creatures such as the puffin, snowy owl and turtle dove are plummeting towards oblivion, according to the definitive study of global bird populations. The State of the World’s Birds, a five-year compendium of population data from the best-studied group of animals on the planet, reveals a biodiversity crisis driven by the expansion and intensification of agriculture. In all, 74% of 1,469 globally threatened birds are affected primarily by farming. Logging, invasive species and hunting are the other main threats.

“Each time we undertake this assessment we see slightly more species at risk of extinction – the situation is deteriorating and the trends are intensifying,” said Tris Allinson, senior global science officer for BirdLife International, which produced the report. “The species at risk of extinction were once on mountaintops or remote islands, such as the pink pigeon in Mauritius. Now we’re seeing once widespread and familiar species – European turtle doves, Atlantic puffins and kittiwakes – under threat of global extinction.” According to the report, at least 40% of bird species worldwide are in decline, with researchers blaming human activity for the losses.

After farming, logging is a key factor in declines of 50% of the most globally endangered species, followed by invasive species (39%), hunting and trapping (35%), climate change (33%) and residential and commercial development (28%). The illegal killing of birds – usually because of traditional hunting – results in an estimated 12 to 38 million individual birds dying or being taken each year in the Mediterranean region alone

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