Apr 272019
 


Egon Schiele Death and the maiden 1915-16

 

Joe Biden is working for Donald Trump, right? I haven’t heard either of them say it outright, but it’s the only reason I can see that would explain why Biden is running for president. And if Biden works for Trump, that means he works for Putin, because Trump is Putin’s puppet, no matter how often Robert Mueller denies it.

Then again, if we would suggest, purely hypothetically and for entertainment purposes only, that Biden is neither Putin’s nor Trump’s puppet, what on earth drives him to declare his candidacy as the oldest ever presidential candidate in US history? Biden will be Trump’s punching bag. There is so much wrong with and about the man, Trump’s not even laughing, just saying: “oh yes, please, bring it.”

Biden has the Anita Hill boondoggle to his name, there’s a huge nascent story concerning Ukraine, where he interfered, while vice-president, to benefit his son, and there are tons of women who will come with groping tales. This will be a very long list, as long as his career in Washington. Biden bumbles and stumbles for a living. Someone’s going to write a book about that someday.

And perhaps most of all, Biden is the product and candidate of the DNC, which may think they got away with what they did in 2016, but will find out that it just ain’t so. They may all think that if Trump is made of Teflon, Joe can be as well, but Teflon is a rare material for politicians to be made of.

 

The Democrats’ hard-to-grasp decision to put everything on the red of collusion for 3 years, and their subsequent colossal loss, will play an outsize role in the 2020 campaign, and of course much more so if an old hand like Joe Biden is put out front to catch the worst of the blows. A lot will come out of the upcoming “counter-Mueller” investigations, starting with DOJ IG Michael Horowitz’s in May, and Trump will only have to say: “You were there all along, Joe, all the way”.

Despite the DNC’s illegal actions and shenanigans, they are still the organization that in the end picks the candidate. Will it be Joe Biden, or will he be knock-out by this time next year? It all depends on who the DNC is going to nominate support, and the DNC is still very much Hillary and the Debbie Wasserman-Schultz cabal.

Bernie Sanders is polling second at this point in time, but Bernie would have to explain away why he surrendered his spot to Hillary after the DNC took it away from him in a clearly fraudulent manner (as we know though WikiLeaks files). What all those people whose millions in campaign donations he squandered away by doing that, even endorsing Hillary, should want to know is: will you do it again this time, Bernie, turn your back on us? You know, once bitten, twice shy?

CNN made up another story out of nothing to make us believe Trump is scared of Biden: “Biden Is Trump’s Most Anticipated – And Feared – Rival”. The gist of it is that they have a source in the White House who says Trump has mentioned Biden in a meeting, and that must mean he fears him.

What is Trump supposedly afraid of? Of Biden taking up print- and airspace and luring away “lower-income white voters who propelled Trump to the White House.” Sure. And if you’re interested, I still own that bridge. To balance things out they also include a line that makes their entire article look useless and ridiculous in two seconds flat. They quote David Urban, a senior adviser to the Trump campaign in Pennsylvania, saying. “If voters wanted a third Obama term, they would have voted for Hillary (Clinton) over Donald Trump.”. And:

[Trump] has denied to reporters that he views the former vice president as a danger, telling CBS News in an interview last year he “dreamed” of running against Biden. Earlier this month he insisted Biden was saddled with a long and ignominious record – including during the Obama administration, which Trump has blamed with increased frequency for foreign and economic policy blunders. “I don’t see Joe Biden as a threat. No, I don’t see him as a threat. I think he is only a threat to himself,” Trump said. “He’s been there a long time. His record’s not good. He’d have to run on the Obama failed record.”

Makes you wonder why CNN wrote that piece, doesn’t it? Are they also on Putin’s payroll? It’s something I’ve often suspected as the mainstream media bungled their way through Mueller Time. Kim Dotcom also had a nice one on Twitter:

Barack Obama didn’t endorse Joe Biden and advised him not to run because now everyone will be looking for dirt on Biden. There’s a lot of dirt and Obama is right there with him in the mud of corruption and unlawfulness. Exciting times.

The DNC, and the Democratic Party as a whole, have a massive legacy problem. Their entire leadership look like a Monday Bingo night in a pensioners home, with botox overdoses for the winners. The entire culture is based on “it’s her/his turn”, and it’s exceedingly rare for anyone to volunteer to step down before they have attained full dementia.

They appear to have a number of younger people who could fill in those roles, but those will have to wait until Pelosi et al have had their fill at the power trough. This is extremely damaging to the party, and ultimately for the whole country, which badly needs a strong party to balance out Trump and his ilk.

But there’s no such balance, and Biden doesn’t have a chance in hell against Trump. The Democrats don’t see this, because that would mean their leaders have to remove themselves from their positions. Fat -old- chance.

The Democrats have promising -though not flawless- young candidates lining up, and they are being pushed to the sidelines. I like the idea that they are letting 20 or more of them in the race just so in the end the DNC will have to decide, and they already have Kamala Harris lined up, but Kamala would only be another DNC candidate. Same problem as Biden.

The ‘leadership’ still clings to the collusion narrative, and that is playing right into Trump’s hands. Collusion, Julian Assange, Maria Butina, these are all made-up stories the Democrats think will be profitable for them. But they only think it because it’s the only way to explain Hillary’s loss that doesn’t expose their gross incompetence.

The Democrat-ruled Congress should make sure the Trump administration frees Butina, drops the extradition request for Assange, and apologizes to Russia for all the empty and hostile allegations. Not going to happen. Pelosi, Hillary and Schumer need the collusion narrative Mueller just entirely discredited. Yes, that is desperate as it sounds.

The Democrat old guard have given up on having a vision for the nation, and instead focus all their energy on scheming and plotting and hanging on to their power. And on trying to get old white men elected. But America is no longer a country for white old men. That ends with Trump. Like a lot ends with Trump. But for now he’s still there.

 

 

 

 

Apr 082019
 


Pablo Picasso Young girl throwing a rock 1931

 

British Voters Say Give Us A Strong Leader Willing To Break The Rules (R.)
May Faces Intense Cabinet Pressure Over Prospect Of Lengthy Brexit Delay (G.)
Labour Jewish Members Declare Party’s Leadership ‘Antisemitic’ (Ind.)
Sorry Is The Easiest Word – But Should Democrats Stop Their Apology Tour? (G.)
Mulvaney Says Democrats Will ‘Never’ See Trump Tax Returns (AFP)
US Urges Immediate Halt To Military Operations In Libya (R.)
Gold Is Moving Back Into The Center Of The Financial System – Rubino (USAW)
Facebook Are ‘Morally Bankrupt Liars’ – New Zealand Privacy Commissioner (G.)
Chelsea Manning’s ‘Don’t Tread on Me’ Moment (Kiriakou)
Midwest Floods Hammer US Ethanol Industry (R.)
Greek Pensioners Have Become The Biggest Single Group Of Taxpayers (K.)
Pain-Care Specialist Agrees To Testify Against Purdue (R.)
Drinks Bottles Now Biggest Plastic Menace For Waterways (G.)

 

 

History rhymes.

British Voters Say Give Us A Strong Leader Willing To Break The Rules (R.)

British voters want a strong leader who is willing to break the rules and force through wide scale reform after three years of Brexit crisis pushed confidence in the political system to a 15-year low. The 2016 referendum revealed a United Kingdom divided over much more than EU membership, and has sparked impassioned debate about everything from secession and immigration to capitalism, empire and what it means to be British. Yet more than a week since the United Kingdom was originally supposed to leave the EU on March 29, nothing is resolved: it remains uncertain how, when or if it ever will.


Research by the Hansard Society found that 54 percent of voters want a strong leader who is willing to break the rules while 72 percent said the system needs “quite a lot” or “a great deal” of improvement. Confidence in the system at the lowest level in the 15-year history of the survey, lower even than after the 2009 expense scandal when lawmakers were shown to have charged taxpayers for everything from an ornamental duck house to cleaning out a moat. [..] “People are pessimistic about the country’s problems and their possible solution, with sizeable numbers willing to entertain radical political changes.” Just a quarter of people had confidence in lawmakers’ handling of Brexit.

Read more …

They had people vote for something, and then spent 3 years haggling over what that something was. At the very least that’s the wrong way around.

May Faces Intense Cabinet Pressure Over Prospect Of Lengthy Brexit Delay (G.)

Theresa May is facing intense cabinet pressure to avoid the prospect of a long Brexit delay, amid increasing expectations that last ditch cross-party talks on a compromise departure plan will not produce anything concrete. Before a crucial EU summit later this week, the prime minister is facing a fast-diminishing range of options that could split the Conservative party and prompt a mass cabinet walkout, or could result in the UK crashing out of the EU without a deal on Friday. May’s only response on Sunday was a homespun video that called for a compromise solution, but while praised for its conversational style, it lacked any fresh detail on proposals to break the Brexit impasse.

With Labour reiterating it had yet to learn even the basics of concessions May might offer after her dramatic call last week for consensus, the timetable looked tight to agree anything before the European council gathering on Wednesday evening. Under the terms of the previous brief extension agreed with the EU, if Brussels does not agree another delay, a no-deal Brexit will happen on Friday. May has requested a pause until 30 June, but Brussels is keen on a wait of up to a year, which could be broken earlier if a solution is found. On Monday, the EU’s chief Brexit negotiator, Michel Barnier, will hold talks with the Irish Taoiseach, Leo Varadkar.

At the weekend, Varadkar said his own preference was for a longer extension than 30 June. Also on Monday, Jeremy Corbyn is due to hold meetings with Sinn Fein’s leaders in London. The party’s president, Mary Lou McDonald, is expected to tell Corbyn that Irish interests must be protected whatever the outcome of his Brexit negotiations with Theresa May.

Read more …

Corbyn talks to May and very predictably this drivel comes out again. Corbyn’s no anti-semite, but he defends Palestinians. That’s why there’s this.

But at the same time, he’s the one who allows this to happen. The Labour Party should be talking about what’s happening to Julian Assange in the heart of London, not be in some nonsense war on alleged anti-semitism.

Labour Jewish Members Declare Party’s Leadership ‘Antisemitic’ (Ind.)

Jewish Labour members have branded the party leadership as antisemitic in a fresh blow to Jeremy Corbyn. The Jewish Labour Movement (JLM) passed the damning motion at its annual general meeting on Sunday, accusing Mr Corbyn of having “condoned antisemitism and antisemites”. The group said the Labour leader was “unfit to be prime minister” and that a government he led “would not be in the interests of British Jews”. JLM is Labour’s only official Jewish affiliate and has been part of the party for almost 100 years. One source at the meeting told The Independent the decision to approve the motion of no confidence in Mr Corbyn was “almost unanimous”.


It reads: “The leadership of the Labour Party have demonstrated that they are antisemitic, and have presided over a culture of antisemitism in which they have failed to use their personal and positional power to tackle antisemitism, and have instead used their influence to protect and defend antisemites. “Jeremy Corbyn is directly responsible, whether through his own actions, where he appears to have condoned antisemitism and antisemites, or through his inaction to tackle the wider problem within the party.” The motion said JLM “has no confidence in Jeremy Corbyn’s ability to understand, respond to or solve the problem” and claimed “his leadership of the Labour Party combined with his past actions and associations shows a complete disregard for the Jewish community in Britain”.

Read more …

Why the Democrats are toast: long article on tons of apologies, but not a word about what they really should apologize for: Russiagate.

Sorry Is The Easiest Word – But Should Democrats Stop Their Apology Tour? (G.)

For Joe Biden, it was his discomfiting touching of women. For Pete Buttigieg, his use of the phrase “all lives matter”. For Tulsi Gabbard, her comments about homosexuality. For Kirsten Gillibrand, her positions on immigration. For Kamala Harris, her record on criminal justice. For Beto O’Rourke, his jokes about his wife and children. For Bernie Sanders, his staff perpetrating sexual harassment in the last campaign. For Elizabeth Warren, her claim to Native American ancestry. Democrats running for president in 2020 are on an “apology tour”, seeking to atone for past political sins. Some voters welcome it as an antidote to Donald Trump, an overdue attempt to set the social and political bar higher for the 21st century. Others are anxious that the candidates’ supporters will try to tear each other down with “wokeness” tests that could leave the party hopelessly divided.

[..] In February, comedian Bill Maher urged viewers of his HBO show: “No more swiping left on presidential candidates. Let’s give them a chance. Let’s not eat our own the way we nitpicked Hillary [Clinton] to death over her emails and other bullshit.” Maher added: “Kamala Harris has already had to play defence because it’s come out, when she was a prosecutor, she prosecuted people. Not very progressive. She should have found a way to apply more forgiveness, and the fact that she didn’t is unforgivable. Elizabeth Warren claimed to be Native American – so what? Trump claimed to be human.”

Republicans sense an opportunity to frame Democrats as consumed by identity politics and virtue signalling. Rich Lowry, editor of the National Review, wrote in February: Democrats are about to ≠embark on the first woke primary, a gantlet of political correctness that will routinely wring abject apologies out of candidates and find fault in even the most sure-footed. The passage of time will be no defense. Nor the best of intentions. Nor anything else.

Read more …

“If the Democrats want to know “if the IRS is doing its job auditing the president, they could ask the IRS..”

Mulvaney Says Democrats Will ‘Never’ See Trump Tax Returns (AFP)

A formal request from a Democratic committee chairman to see six years of Donald Trump’s tax returns was forcibly rejected Sunday by a top presidential aide, who said Democrats would “never” see the documents. Trump is the first US president since Richard Nixon to refuse to divulge his tax information. Representative Richard Neal, chairman of the House Ways and Means Committee, sparked a contentious battle on Wednesday when he made the request using a little-known provision in the tax code, saying, “It is critical to ensure the accountability of our government and elected officials.” But when Trump’s acting chief of staff, Mick Mulvaney, was asked Sunday whether Democrats would ever see the returns, he was unequivocal. “Never,” he said on “Fox News Sunday.” “Nor should they.”

Mulvaney asserted that since voters knew ahead of the 2016 election that Trump would not reveal his returns and then elected him anyway, the matter was “already litigated.” He said that while there are legal provisions for the Internal Revenue Service to turn tax papers over to the Ways and Means Committee – the chief tax-writing committee in the House – a “political” attack is not a valid reason. Separately, Jay Sekulow, a private attorney for Trump, argued that the Democratic-controlled House was trying to move beyond its constitutionally mandated role of oversight into the realm of law enforcement. If the Democrats want to know “if the IRS is doing its job auditing the president, they could ask the IRS,” he said on ABC’s “This Week.”

“A Ways and Means hearing about IRS enforcement as a way to get to the president’s private individual and business tax returns makes no sense, both constitutionally and statutorily,” Sekulow said. But Dan Kildee, a Democratic member of Ways and Means, took strong exception. “We’re looking very carefully as to whether or not the IRS is properly auditing and enforcing tax law on the president of the United States, and we’re considering legislative changes toward that end,” he said on ABC.

Read more …

Thank you, Hillary and Obama.

US Urges Immediate Halt To Military Operations In Libya (R.)

The United States called on Sunday for an immediate halt to military operations in Libya as the Libyan National Army headed by Khalifa Haftar advanced on the capital, Tripoli. Secretary of State Mike Pompeo said in a statement that Washington was “deeply concerned about fighting near Tripoli” and urged talks to end the fighting. “We have made clear that we oppose the military offensive by Khalifa Haftar’s forces and urge the immediate halt to these military operations against the Libyan capital,” Pompeo said in urging de-escalation. Eleven people were killed and 23 wounded in clashes in southern Tripoli, the Health Ministry of the U.N.-backed Libyan government of National Accord said late on Sunday.


The ministry gave no details of whether the casualties were civilians or fighters. Lawless since 2011 when Muammar Gaddafi was toppled by rebels backed by NATO air strikes, Libya has become the transit point for hundreds of thousands of migrants trekking across the Sahara in hopes of crossing the Mediterranean Sea to reach Europe. Haftar, 75, who casts himself as a foe of Islamist extremism but is viewed by opponents as a new dictator in the mold of Gaddafi, enjoys the backing of Egypt and the United Arab Emirates, which see him as a bulwark against Islamists and have supported him militarily, according to U.N. reports.

Read more …

“.. in the next recession, we will be taking on huge amounts of new debt at an accelerating rate.”

Gold Is Moving Back Into The Center Of The Financial System – Rubino (USAW)

The end part of this story is how good all this is for gold. . . . The next thing from the Fed will be a rate cut, and it will increase and not decrease its balance sheet. . . . We are going to go preemptively to monetary easing, and that’s really new. This is very, very new. You normally don’t do this. You wait until you see a bear market and a slowdown in the economy that gets people laid off before you start aggressively easing. Apparently, we are going to do that stuff before that stuff starts happening. Who knows what the impact of that will be? If it works the way they want, more people will get hired, wages will pick up and we’ll have inflation in the 4% or 5% range before you know it.”

So, with near record low yields on bonds and near record high prices for stocks, Rubino has just one question. Rubino says, “What’s cheap? Gold and silver. What is down and what is cheap relative to the fundamentals. It’s not just the price of gold and silver, it’s how much gold and silver exists relative to how much paper wealth is in the world. The amount of gold and silver that we are bringing out of the ground is growing at 1% or 2% per year. The amount of paper wealth in the world is growing exponentially. . . .Gold is moving back into the center of the global financial system.”

Another big factor to consider is debt. Rubino says, “Every big country is running deficits that are dramatically bigger than they were five years ago. In the U.S., we are back to $1 trillion a year deficits, which is Obama Administration post Great Recession kind of numbers, and we are doing it 10 years into an expansion. . . . So, in the next recession, we will be taking on huge amounts of new debt at an accelerating rate.

Read more …

Now we’re talking.

Facebook Are ‘Morally Bankrupt Liars’ – New Zealand Privacy Commissioner (G.)

New Zealand’s privacy commissioner has lashed out at social media giant Facebook in the wake of the Christchurch attacks, calling the company “morally bankrupt pathological liars”. The commissioner used his personal Twitter page to lambast the social network, which has also drawn the ire of prime minister Jacinda Ardern for hosting a livestream of the attacks that left 50 dead, which was then copied and shared all over the internet. “Facebook cannot be trusted,” wrote Edwards. “They are morally bankrupt pathological liars who enable genocide (Myanmar), facilitate foreign undermining of democratic institutions.


“[They] allow the live streaming of suicides, rapes, and murders, continue to host and publish the mosque attack video, allow advertisers to target ‘Jew haters’ and other hateful market segments, and refuse to accept any responsibility for any content or harm. “They #dontgiveazuck” wrote Edwards. He later deleted the tweets, saying they had prompted “toxic and misinformed traffic”. Edwards was responding to an interview given by Facebook co-founder Mark Zuckerberg to America’s ABC network, in which he failed to commit to any changes to the Facebook live technology, including a time delay on livestreams. Zuckerberg said incidents like the live streaming of the Christchurch mosque attacks were the result of “bad actors”; not bad technology and a time delay would disrupt the enjoyment of users who broadcast events like birthday parties or group hangouts.

Read more …

Pete Seeger did in the 1950’s what Chelsea is doing today.

Chelsea Manning’s ‘Don’t Tread on Me’ Moment (Kiriakou)

Contrary to popular belief, President Obama did not pardon Manning in the final days of his administration. Instead, he commuted her sentence, simply releasing her from prison. The conviction still stands and Manning is still in legal jeopardy. Prosecutors could still decide to charge her with crimes related to the original charges. With that said, was Manning’s subpoena a ham-fisted attempt to get her to contradict herself in new testimony, thus inviting another felony charge for perjury or making a false statement? Were prosecutors trying to get Manning to implicate herself in some process felony? Or were they simply trying to force her to turn rat on Julian Assange?

Again, Manning could have simply answered each question with “I don’t recall.” She would have been home in time for dinner. Instead, she made a political point—one that all of us should want to emulate. That point is “Don’t tread on me.” That point is “I’m willing to jeopardize my freedom to protect yours.” I say often that in my time at the CIA, I learned that CIA culture is such that employees are taught that everything in life is a shade of gray. But that is simply not true. Some things are black and white, right or wrong. This is one of those things. It’s the government that’s the enemy here, not Manning or Assange.

Remember, the American people own the information that Manning and Assange are accused of releasing. We have a right to know what our government is doing in our name. We have a right to know whether the government is covering up crimes. We have a right to know when—and why—those Americans who commit war crimes or crimes against humanity are not being prosecuted. The mainstream media doesn’t tell us. But Wikileaks does. We wouldn’t know about some of the most egregious war crimes of the past two decades without Chelsea Manning and Julian Assange. You don’t have to like them. You don’t have to share their politics. You don’t have to want to go out and have a beer with them. But you do have to respect what they’ve done.

Read more …

Stupid industry anyway.

Midwest Floods Hammer US Ethanol Industry (R.)

The March floods that punished the U.S. Midwest have roiled the ethanol industry, hammering prices and trapping barrels in the country’s interior while the U.S. coasts suffer from shortages of the biofuel. The historic March floods have dealt a series of blows to large swaths of an ethanol industry that was already struggling with high inventories and sluggish domestic demand growth. And the ethanol shortages are one factor pushing gasoline prices in Los Angeles and Southern California to the highest in the nation and they could top $4 a gallon for the first time since 2014, according to tracking firm GasBuddy.


Benchmark price for ethanol used in most supply contracts initially jumped on news of the floods but has been hobbled by rising waters around the Chicago hub that have halted barges and sales. That stands in contrast to prices on the coasts, which rose dramatically – drawing in heavy imports from Brazil, the main U.S. ethanol competitor. The floods inflicted billions of dollars in damage to crops and homes in the U.S. Midwest, and knocked out roughly 13% of ethanol capacity. U.S. ethanol is made from corn and required by the government to be blended into the nation’s fuel supply to reduce emissions. While some ethanol plants were flooded, the primary effect of the rising waters was to shut rail lines that serve as the main arteries for corn and ethanol deliveries.

Read more …

Q: how long can you keep an economy running that has more pensioners than workers?

Greek Pensioners Have Become The Biggest Single Group Of Taxpayers (K.)

Pensioners constitute the biggest single group of taxpayers in Greece, confirming the ominous predictions about the impact of an aging population on growth and state finances. The number of pensioners expanded since the starts of the financial crisis more than any other group, coming to outnumber even salaried workers. The relevant data from the Independent Authority for Public Revenue are impressive, showing that in nine out of the country’s 13 regions, pensioners make up the biggest group of taxpayers, ahead of salaried workers, farmers and freelance professionals. In certain regions both the number of pensioners and their declared incomes are above those of the other groups.

For instance, in the region of Western Greece, pensioners account for 40.1% of taxpayers and 40% of the total declared income. Statistical data processing reveals that since end-2014 the number of pensioners in Greece has shot up by 233,000. Going back to the outbreak of the crisis at the start of the decade, there is an additional 588,360: From 1,667,428 pensioners in 2010 there are now 2,255,788. The active population is therefore declining at a rapid rate: Before the economic crisis broke out, pensioners accounted for 29% of taxpayers, while today their share has climbed to 35.4%. However, the same data also reveal the dramatic shrinking of pensioners’ incomes during the crisis: Back in 2010 their declared annual income amounted to 27 billion euros, as each one of them declared an average 16,228 euros per year; today the yearly declared income of pensioners comes to just 11,175 euros, reduced by 31.13%.

The regional data are quite astonishing in terms of the growing dominance of pensioners among taxpayers: In Attica, by far the country’s most populated region, salaried workers come to 935,955 and pensioners are 804,755. The annual income of pensioners is 10.3 billion euros, according to 2018 figures, while that of salaried workers is 15.2 billion. In Western Greece, the region that includes Patra – Greece’s third city – pensioners dwarf salaried workers, as there are 153,452 of the former against just 111,979 of the latter.

Read more …

Well, actually he’s a company shill trying to stay out of jail.

Pain-Care Specialist Agrees To Testify Against Purdue (R.)

A physician ally of Purdue Pharma LP whose views helped drive the explosive growth in the use of addictive pain relievers for common aches and pains in the United States has agreed to testify against the OxyContin maker and other drug companies, newly disclosed court records show. Dr. Russell Portenoy, a professor at the Albert Einstein College of Medicine, was an early advocate for the use of opioids for chronic pain, a position he shared in medical journal articles, with regulators, at physician conferences and in other forums. He also was named as a defendant in some of the lawsuits filed by cities, counties and states seeking to hold opioid makers – including Endo and Mallinckrodt Plc – and their distributors liable for the cost of the U.S. opioid epidemic.


But Portenoy began talking to plaintiffs’ lawyers as early as January 2018 and later struck a deal with the plaintiffs to serve as a cooperating witness, the records show. In exchange for his dismissal from the suits, Portenoy provided the plaintiffs with documentation of opioid makers’ payments to him over the years, as well as a 36-page declaration that lays out what he would say on the witness stand. Portenoy’s previously confidential cooperation agreement and declaration were made public Friday as a part of a discovery ruling by David Cohen, a special master in the federal court in Cleveland, Ohio, where hundreds of the opioid lawsuits have been consolidated. In an email, Cohen said it was possible the records should have been filed under seal out of public view.

Read more …

Is it bad enough yet to call it hopeless?

Drinks Bottles Now Biggest Plastic Menace For Waterways (G.)

Plastic bottles, the detritus of our throwaway water and soft drinks habits, are the most prevalent form of plastic pollution in European waterways, according to a new report. Food wrappers, including crisp and sweet packets, were the second biggest form of plastic pollution in rivers, followed by cigarette butts. All of these forms of litter can cause problems for wildlife and fish, and are hard to clean up once they have found their way into the water. Plastic bags were found to make up only 1% of plastic rubbish in freshwater, reflecting years of efforts to reduce their use, including charges on them in the UK and many other European countries.

Consumers should be more aware of what they can do to prevent the fouling of waterways, from using cotton buds with paper sticks to binning wet wipes instead of flushing them, and bringing their own receptacles for food takeaways, according to the Plastic Rivers report from Earthwatch Europe and Plastic Oceans UK. “The products we buy every day are contributing to the problem of ocean plastic,” said Jo Ruxton, chief executive of Plastic Oceans UK. “Our discarded plastic enters rivers from litter generated by our on-the-go lifestyle and items we flush down toilets. This throwaway approach is having much more serious consequences and the report shows really simple ways to avoid this problem and stop plastic pollution.”

Although most attention on the plastic scourge has focused on the plight of oceans, about 80% of plastic rubbish flows into them from rivers. Many experts believe that focusing on the clean-up of rivers is the best way to choke off the flow of existing rubbish into seas, while the ultimate source of the problem – our dependence on throwaway plastic products – is tackled.

Read more …

Apr 052019
 


Pablo Picasso Crucifixion 1930

 

 

President Donald J. Trump
The White House
1600 Pennsylvania Avenue, N.W.
Washington, DC 20500.

 

 

Mr. President,

I write to you because I’m seeing something unfold that concerns you, and I have no way of knowing if you’re aware of it, nor have I seen anyone else mention it. That is, sir, you are being set up, a trap is being set for you, and unless you are aware of it, you may well walk into that trap eyes wide open.

It may not be in your briefing this morning, but the WikiLeaks organization has reported that high-ranking Ecuadorean state officials have told them Julian Assange will be expelled from their London embassy in a matter of “hours to days”. Now, I don’t know what your personal opinion is of Mr. Assange, maybe you think he deserves punishment for leaking secret files to the public.

Your personal opinion of Mr. Assange, however, is not the most important issue here, no offense. What’s most important to your own situation, as well as that of Mr. Assange, is that the people who are after him are the very same people who have been after you for 3 years, and who will double their efforts after suffering a huge loss due to Robert Mueller’s No Collusion report.

What the trap set for you consists of is that if you let these -largely anonymous- deep state actors get their hands on Mr. Assange, you will greatly empower them (even further). But, sir, his enemies inside US intelligence are the same as yours, and empowering one’s enemies is not the way to do battle.

 

We know they are the same people because of Robert Mueller. Mr. Assange was the only way Mr. Mueller could think of to link you to “the Russians”. This is a narrative built upon the -false- notion that “Russians” hacked the DNC servers and sent the contents to Mr. Assange. The narrative has been fully discredited by multiple voices multiple times, but Mr. Mueller has never retracted it.

For good reason: this way he -and others- can leave the story, and suspicion, open that there is a link between you, Mr. Assange and the Russians, despite the Mueller report’s no collusion conclusion. And do note: it not only maintains the popular and media suspicion of Mr. Assange, it also leaves suspicion of you alive.

Former British ambassador Craig Murray explained the intricacies -again- a few days ago:

 

Muellergate and the Discreet Lies of the Bourgeoisie

Robert Mueller repeats the assertion from the US security services that it was Russian hackers who obtained the DNC emails and passed them on to Wikileaks. I am telling you from my personal knowledge that this is not true. Neither Mueller’s team, not the FBI, nor the NSA, nor any US Intelligence agency, has ever carried out any forensic analysis on the DNC’s servers. The DNC consistently refused to make them available. The allegation against Russia is based purely on information from the DNC’s own consultants, Crowdstrike.

William Binney, former Technical Director of the NSA (America’s US$40 billion a year communications intercept organisation), has proven beyond argument that it is a technical impossibility for the DNC emails to have been transmitted by an external hack – they were rather downloaded locally, probably on to a memory stick. Binney’s analysis is fully endorsed by former NSA systems expert Ed Loomis. There simply are no two people on the planet more technically qualified to make this judgement. Yet, astonishingly, Mueller refused to call Binney or Loomis (or me) to testify. Compare this, for example, with his calling to testify my friend Randy Credico, who had no involvement whatsoever in the matter, but Mueller’s team hoped to finger as a Trump/Assange link.

The DNC servers have never been examined by intelligence agencies, law enforcement or by Mueller’s team. Binney and Loomis have written that it is impossible this was an external hack. Wikileaks have consistently stressed no state actor was involved. No evidence whatsoever has been produced of the transfer of the material from the “Russians” to Wikileaks. Wikileaks Vault 7 release of CIA documents shows that the planting of false Russian hacking “fingerprints” is an established CIA practice. Yet none of this is reflected at all by Mueller nor by the mainstream media. “Collusion” may be dead, but the “Russiagate” false narrative limps on.

 

Mr. Trump, sir, I don’t doubt you have realized by now that you are not rid yet of Robert Mueller. But Mr. Mueller is but one cog in the large wheel of intelligence running against you. Yes, the same wheel that runs against Mr. Assange. I’m sure you recognize that it’s hugely ironic, but there is a for now unbreakable bond between the two of you.

Not because of anything you did yourselves, but because Russiagate conspirators in the media, the Democratic party and the intelligence community have created it. And you need to be careful on account of that bond, because they’re going to -try to- use it against you.

I may be a lot more sympathetic to Mr. Assange than you are, but as I said before, this has nothing to do with personal opinion. This is about a trap being set for you. And Mr. Assange is an important part of that trap.

Through him, and especially if they keep him incommunicado, they can keep Russiagate alive, which allows for hundreds of billions of dollars in annual arms expenditures and the 24/7/365 threat of war.

Without the empty allegations against Mr. Assange, Robert Mueller would have had to drop his probe much earlier, but in keeping the allegations alive by silencing Mr. Assange, Russiagate can live on, because the link between Russian hackers and WikiLeaks can be left hanging in the air. And that, Mr. President, will be bad news for you, whether you like it or not, whether you acknowledge it or not.

 

We haven’t talked about the media yet, but there’s another giant irony in the US media clamoring about press freedom, and using it to smear you for 3 years, but not saying a single word to defend that same freedom when it comes to Mr. Assange. They, too, will continue to haunt you, using Mr. Assange as their bait. Don’t let them.

I don’t know what you intend to do about Russiagate and its main perpetrators, but I do know you can make things much easier for yourself if you solve the Assange conundrum first. And you can’t do that by allowing your own enemies to get their hands on him and rendition him; that will backfire on you.

You could pardon him, but that may be a step too far for you at this point. It might be better to simply allow him to go home to Australia.

What would amuse me to no end is if you would personally nominate him for a Nobel Peace Prize. That would piss off so many of your enemies it would be a sight to see. The biggest bird you can flip them all. And then after that, you know, go talk to Vladimir Putin and tell him you’re sorry for all this bad theater.

There’s this scene in the Godfather where Marlon Brando as the ageing Don tells Al Pacino how to recognize the traitor in his own midst: the one who suggests setting up a meeting. This is very similar: whoever comes to you to suggest the harshest treatment of Julian Assange, will be the one(s) intent on coming after you too.

One last thing, Mr. President: Julian Assange, Chelsea Manning and Edward Snowden are among the best, brightest and bravest people our world has to offer. We need people like them, and we need them badly. And it’s a lot more stupid than it is simply ironic, that they are the ones we are locking up and silencing. That way America will never be great again, guaranteed.

And you, sir (I know, more irony) may be their -and our- best and even last hope. You have the power to set free our best. Please use it wisely. And Mr. President, sir, be careful out there.

Know your enemies.

 

 

 

 

Mar 252019
 
 March 25, 2019  Posted by at 2:50 pm Primers Tagged with: , , , , , , , , , ,  


Yves Klein Leap into the Void 1960

 

Message to Bernie Sanders, Joe Biden, Kemala Harris, Tulsi Gabbard and the rest of the crew: you can stop asking for campaign donations, because you no longer stand a chance in the 2020 elections. Your own party, and the media who support you, made sure of that. Or rather, the only chance you would have is if you guys start another smear campaign against your president, and I wouldn’t recommend that.

I don’t want to start another Lock Her Up sequence, that’s too ugly for my taste. But three parties in this No Collusion disaster must be held accountable: US intelligence, the Democratic party, and the media. You can’t just let it go, too much water under the bridge. No can do. “The Democrats need to move on”, a recent ‘soft line’, is not good enough. They must be held to account.

Bill Barr can investigate the FBI and DOJ, but the obstacles there are obvious: investigating the investigators. The Democratic party would mean going after individuals, but sure, let’s see what Loretta Lynch, Debbie Wasserman-Schultz and Maxine Waters have to say for themselves and take it from there, before you get to Hillary. The media, though, is something else altogether.

Freedom of the press, and freedom of opinion, is one thing. Conducting a 2-year+ smear campaign against your own president is another. So what does US law say about this? Let’s hear it. Since Trump made Bill Barr the new Attorney General, Barr is instrumental in answering these questions. Is it a smear campaign? Is that acceptable? Is it legal? Asking for a friend.

Not a soul could blame me if I were to gloat because what I’ve said since the 2016 elections has been proven: there is no collusion between ‘the Russians’ and Donald Trump and there never was. But I don’t feel much like gloating because 1) it’s old news and 2) this tale is far from over. The media, and the Democrats, are not going to cave in, because they have nowhere left to ‘cave into’.

The biggest shame, I think, is not that the media will just keep doing what they have, but that a remnant, a residue of all the made-up narratives will remain in their audience’s minds, long after Robert Mueller has said it was all lies all that time. That the public will say: there’s been so much, surely some of it must be true?! The power of repetition.

 

The same media that has spun the collusion theme all this time will simply continue doing what it’s done, just perhaps without using that term -and not even that is sure. Don’t let’s forget, and I’ve said this 1000 times, that while there is a dose of genuine hatred of their own president involved, and some political issues, most of all it’s about their business model. Trump scandals mean readers and viewers. And money.

Because of that, or at least partly because of it, I would seriously like to ask what the odds are of putting Rachel Maddow behind bars. How many lies can you tell, and how often can you repeat them, about anyone, but certainly about your President, before someone calls you on it? Trump can’t really defend himself, or couldn’t as long as Mueller was busy, but this can’t be.

Does the fact that you work for the media protect you to the extent that you can just say anything? And Maddow of course is just an example, albeit an extreme one, but the same goes for CNN, New York Times et al. What freedoms do you have as a journalist? And at what point are you no longer a journalist at all? Who decides that?

BuzzFeed said Mueller was in possession of evidence that Trump directed Michael Cohen to lie to Congress. Mueller himself had to discredit that. The Guardian’s Luke Harding wrote a #1 NYT bestselling book called “Collusion” before writing an article with Dan Collins claiming that Manafort had met with Assange multiple times in London.

Not a word of that was true. But Harding And Collins and their editor still work at the Guardian, and no apologies or corrections were ever issued. And at some point you have no choice but to ask: where does it stop? Where do we draw the line? Can anyone who labels themselves a journalist and/or anyone employed by MSM, say anything they want? From sources:

The nonpartisan Tyndall Report pegged the total amount of time devoted to the story on the evening newscasts of ABC, CBS and NBC last year at 332 minutes, making it the second-most covered story after the Senate confirmation hearings of Supreme Court Justice Brett Kavanaugh.

According to a count by the Republican National Committee released Sunday, The [Washington] Post, The New York Times, CNN.com and MSNBC.com have written a combined 8,507 articles [since 2017] mentioning the special counsel’s investigation [into nonexistent collusion], some 13 articles a day. The cable news networks, particularly CNN and MSNBC, have added hundreds of hours of discussion about the topic, too.

And they wrote many more in 2016 as well. They were on a mission. Tyler Durden adds:

Mueller’s 40 FBI agents issued over 2,800 subpoenas, executed “nearly 500 search warrants,” and “obtained over 230 orders for communication records. They also issued 13 requests to foreign governments for evidence and interviewed approximately 500 witnesses.

All that time, and all those resources, dedicated to a figment of the imagination, invented out of this air to derail a presidential election and a presidency. Where do we think these people see their country go? I must admit I’m not sure about that one. But I see Bernie Sanders on the anti-Trump wagon, and AOC and Tulsi trying to get on, and I think: please don’t do that, it doesn’t go anywhere.

I’ve called for a second special counsel many times, and I can’t imagine there won’t be one, and as much as I think it’s desperately needed, it’s obvious at the same time that it can only divide the nation further.

There was a reason Trump was elected: people had gotten sick of what was there before, of what Republicans and Democrats had to offer. And there is absolutely nobody in either party who addresses that issue. In other words, there’s still nobody who is listening to those people. So they tune into Rachel Maddow and her kind of ‘reporting’.

Looks like Bill Barr will be badly needed. And that to restore the credibility of US intelligence, he will need to clean up the FBI and DOJ and get rid of all those who’ve taken part in the collusion debacle. A formidable task. I’d suggest he start with Maddow et al and take it from there. Find out who feeds the media their fantasy stories.

Oh, and now that collusion’s off the table, free Julian Assange. Let Robert Mueller show he’s not as much of a coward as he looks until now. To that end, let him swallow the Guccifer 2.0 nonsense as well. That Rachel Maddow makes things up from scratch, doesn’t mean Special Counsels should do that too. Mueller knows exactly what this is about.

A friend (not exactly a Trump fan) mailed me last night saying this was never a witch hunt. And I’m thinking: maybe that depends on how you define it. Here’s one definition: “an unforgiving, evidence-scant campaign against a group of people with unpopular views.” Not too far off, is it?

Time for spring cleaning, Bill Barr.

 

 

Jan 042019
 
 January 4, 2019  Posted by at 10:24 am Finance Tagged with: , , , , , , , , , , , ,  


Yasuhiro Ishimoto Untitled, Chicago 1950

 

Congratulations! Apple Loses Record $463 Billion in Market Cap in Three Months (Mish)
Apple Just Lost A Facebook (CNBC)
Apple Suffers Its Biggest Single-Day Loss In 6 Years (CNBC)
Why This Time Is Different (MooTrades)
Democrats Introduce Impeachment Articles On 1st Day In The House (RT)
Canada Says 13 Citizens Detained In China Since Huawei CFO’s Arrest (R.)
UBS Chairman Pours Cold Water On Deutsche Bank Merger Talk (R.)
Google Shifted $23 Billion To Tax Haven Bermuda In 2017 (R.)
Over Half Of Tory Members Consider Quitting Party Over May’s Brexit Deal (BI)
US Judge Limits Evidence In Trial Over Roundup Cancer Claims (R.)
New Brazil President Bolsonaro Launches Assault On Amazon Rainforest (G.)

 

 

Losing half a trillion in 3 months should be no surprise now central banks have killed the negative feedback from a functioning market. It’ll be runaway wild swings till it is restored.

Congratulations! Apple Loses Record $463 Billion in Market Cap in Three Months (Mish)

Apple set a record that will take a long time to beat. The first $ trillion company lost nearly half that in 3 months. On, August 2, Apple became the World’s First Trillion-Dollar Company at $207.05 per share. Hooray! On October 3, Apple had a peak market cap of about $1.138 trillion. Today, Apple’s market cap is about $675 billion. That’s a record market cap loss of $463 billion in three short months. Expect more stories similar to this, but this may be hard to top. Amazon has a chance but it needs a big disaster soon.

Read more …

• more than double the size of Wells Fargo • more than three times the size of McDonald’s • more than five times the size of Costco • more than 10 times the size of Raytheon.

Apple Just Lost A Facebook (CNBC)

In only three months, Apple has lost $452 billion in market capitalization, including tens of billions on Thursday as the tech giant’s stock sank further. Apple shares have fallen by 39.1 percent since Oct. 3, when the stock hit a 52-week high of $233.47 a share. With its market cap down to about $674 billion, those losses are larger than individual value of 496 members of the S&P 500 — including Facebook and J.P. Morgan. Microsoft, Amazon, Alphabet and Berkshire Hathaway are the only S&P 500 members with larger market caps than Apple’s loss since its recent high.

To put the Apple market value plunge in context, $446 billion is: • more than double the size of Wells Fargo • more than three times the size of McDonald’s • more than five times the size of Costco • more than 10 times the size of Raytheon. Apple gave a sudden warning to investors on Wednesday afternoon, lowering its fiscal first-quarter revenue guidance. Wall Street reacted, with one analyst saying this will represent Apple’s “biggest miss in years” and another saying the company’s announcement “raises more questions than answers.” Apple CEO Tim Cook’s letter to investors blamed a variety of factors for the guidance cut, including declining iPhone revenue and China’s weakening economy.

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Only 6 years? That makes it sound cookie cutter.

Apple Suffers Its Biggest Single-Day Loss In 6 Years (CNBC)

Apple stock cratered almost 10 percent Thursday, a day after slashing revenue guidance in a rare acknowledgement of waning sales. The stock ended trading at $142.19, its lowest price level since July 2017. The plunge makes for Apple’s worst day of trading since January 2013, and it extends a painful year-end trend for Apple into 2019. The stock, which once traded above $230 per share, shed 30 percent in the fourth quarter of 2018. Thursday’s losses push Apple’s market valuation below $700 billion and behind the market cap of Alphabet to become the fourth most valuable publicly traded U.S. company — down from the top spot just two months ago. The company has lost $450 billion in market value since its peak of about $1.1 trillion last year.

Read more …

Hard not to think that people working in finance still can’t believe the industry doesn’t function. They keep trying to explain what happens, from inside their faulty models.

Why This Time Is Different (MooTrades)

We have seen the last three bull markets catalyzed largely by loosening liquidity conditions during the bear markets that preceded them by central banks — in more and more of a globally coordinated fashion. This has led me to believe that the expansion of liquidity is the primary driver for consistent risk asset upward price revisions (aka bull markets). More than economic developments, earnings or political discourse. As a result it is crucial to realize that the ‘punch bowl’ of quantitative easing, the veritable liquidity spigot that juiced markets higher over the last 9.5 years, is not only running dry, but going in reverse (taking liquidity from markets). The impact of this reversal cannot overstated. It will be the primary catalyst that drives this bear market in equities lower. Only a reversal of tightening liquidity conditions will drive risk assets higher again.

Macro: • $1 of US GDP growth now costs $4 of debt, and is only growing as we push on the string of debt to borrow forward demand to today. • US now has $200 trillion of unfunded liabilities over the next 10 year period. • Debt monetization isn’t just important, it will become a necessity. Otherwise rates normalize and the party ends in a very bad way (insolvency and/or extreme austerity measures).

Read more …

Everybody is getting ready for a fight. Just not one that would benefit their voters.

Democrats Introduce Impeachment Articles On 1st Day In The House (RT)

Democrats are flexing their muscles as the incoming majority in the US House of Representatives, introducing articles of impeachment and even quixotic constitutional amendments even though they have no hope of passing. Rep. Brad Sherman (D-CA) introduced articles of impeachment on the first day of the 2019 Congress, starting with a resolution demanding President Donald Trump be impeached for “threatening, and then terminating” then-FBI Director James Comey in 2017. Reserving the option to introduce more articles later, Sherman told CNN he wanted to be able to “force the conversation on impeachment” when (if?) the Mueller report is released, “challenging” his Democratic colleagues who haven’t yet chosen to support Trump’s impeachment.

Sherman filed the exact same impeachment resolution in 2017 but could only muster one supporter, Rep. Al Green (D-TX), who later filed his own articles of impeachment. Rep. Rashida Tlaib (D-MI) didn’t even wait until she was seated as a congresswoman to go after the president’s job, publishing an op-ed on Thursday entitled “Now is the time to begin impeachment proceedings against President Trump.” “We already have overwhelming evidence that the president has committed impeachable offenses,” she wrote, accusing Trump of “abuse of power and abuse of the public trust” along with a laundry list of crimes. In person, she was even more direct, reportedly telling a MoveOn.org reception, “We’re gonna impeach that mother**ker.”

Speaker of the House Nancy Pelosi has been noticeably reticent on impeachment, telling NBC on Thursday that Democrats should wait for the Mueller report before making any moves. “We shouldn’t be impeaching for a political reason, and we shouldn’t avoid impeachment for a political reason,” she said. Many rank-and-file Democrats ran on pro-impeachment platforms, but with polls indicating only a third of Americans support the idea and a two-thirds majority in the Republican-controlled Senate required to remove the president, they are unlikely to make any sudden moves.

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“..there are almost 900 Canadians in a similar situation in the United States..”

Canada Says 13 Citizens Detained In China Since Huawei CFO’s Arrest (R.)

Canada has said 13 of its citizens have been detained in China since the Huawei executive Meng Wanzhou was arrested in December in Vancouver at the request of the US. “At least” eight of those 13 have since been released, a Canadian government statement said, without disclosing what charges if any had been laid. Prior to Thursday’s statement, detention of only three Canadian citizens had been publicly disclosed. Diplomatic tensions between Canada and China have escalated since Meng’s arrest on 1 December. The Canadian government has said several times it sees no explicit link between the arrest of Meng, the daughter of Huawei’s founder, and the detentions of Canadian citizens. But Beijing-based western diplomats and former Canadian diplomats have said they believe the detentions were a “tit-for-tat” reprisal by China.

Meng was released on a C$10m ($7.4m) bail on 11 December and is living in one of her two Vancouver homes as she fights extradition to the US. The 46-year-old executive must wear an ankle monitor and stay at home from 11pm to 6am. The 13 Canadians detained included Michael Kovrig, Michael Spavor and Sarah McIver, a Canadian government official said on Thursday. McIver, a teacher, has been released and returned to Canada. Kovrig and Spavor remain in custody. Canadian consular officials saw them once each in mid-December. Overall there are about 200 Canadians who have been detained in China for a variety of alleged infractions and continue to face on-going legal proceedings. “This number has remained relatively stable,” the official said. In comparison there are almost 900 Canadians in a similar situation in the United States, the official said.

Read more …

Who’s going to save Deutsche? It’s far too big not to be saved. But it would drag down any other bank with it. Let the German government do it.

UBS Chairman Pours Cold Water On Deutsche Bank Merger Talk (R.)

Swiss bank UBS is not looking to merge with any other bank, Chairman Axel Weber told the Tages-Anzeiger newspaper, dismissing speculation that UBS could join forces with Deutsche Bank. “There is a lot of talk in Europe and the United States about mergers but nothing happens. These are all simulation games,” he said in an interview published on Thursday. Asked specifically about whether UBS, the world’s largest wealth manager, was running simulations about Germany’s biggest lender, Weber said: “Every company has to think things over, but it makes little sense to consider mergers at group level now. These paralyze companies for years.

“UBS is much stronger today than before the financial crisis, but combining with another bank — no matter which — would be premature at this moment. We want to grow primarily organically and we surely have to be able to walk before we want to run.” Weber, a former Bundesbank chief who joined UBS in 2012, said he could imagine remaining in his post until 2022. Asked how long Chief Executive Sergio Ermotti might stay, he said UBS wanted an orderly leadership transition and was under no pressure to act while it ensured the right talent was in place.

Read more …

The Dutch finance minister published a list of tax havens a few days ago. Holland wasn’t on it. These people don’t give a sh*t about their credibility.

Google Shifted $23 Billion To Tax Haven Bermuda In 2017 (R.)

Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed at the Dutch Chamber of Commerce. The amount channeled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016, the documents, filed on Dec. 21, showed. “We pay all of the taxes due and comply with the tax laws in every country we operate in around the world,” Google said in a statement. “Google, like other multinational companies, pays the vast majority of its corporate income tax in its home country, and we have paid a global effective tax rate of 26 percent over the last ten years.”

For more than a decade the arrangement has allowed Google owner Alphabet to enjoy an effective tax rate in the single digits on its non-U.S. profits, around a quarter the average tax rate in its overseas markets. The subsidiary in the Netherlands is used to shift revenue from royalties earned outside the United States to Google Ireland Holdings, an affiliate based in Bermuda, where companies pay no income tax. The tax strategy, known as the “Double Irish, Dutch Sandwich”, is legal and allows Google to avoid triggering U.S. income taxes or European withholding taxes on the funds, which represent the bulk of its overseas profits.

Read more …

“76% of Tory members said that warnings about no deal Brexit — like those on food & medicine — are “exaggerated or invented, and in reality leaving without a deal would not cause serious disruption.”

Over Half Of Tory Members Consider Quitting Party Over May’s Brexit Deal (BI)

Conservative party members overwhelmingly want MPs to vote down Theresa May’s Brexit deal, with more than half saying they have even considered ripping up their membership over it, according to a new poll. A survey of 1,215 Tory party members published on Friday found that 59% of Conservative party members oppose the Withdrawal Agreement May has negotiated with the European Union, while just 38% support it. Among all Conservative party members, more than half (56%) said they had considered quitting the party over May’s deal, according to YouGov polling for leading academics at the ESRC-funded Party Members Project.

The findings will spook figures in Downing Street who had hoped that Conservative MPs would return from their constituencies over Christmas having been urged by party members to get behind May and her deal. The prime minister was forced to postpone a parliamentary vote on her deal after more than 100 of her MPs announced that they planned to oppose it. [..] The Tory party membership is particularly supportive of leaving the EU without a deal, despite the myriad warnings from ministers about the disruption it would cause across multiple aspects of life in the UK, including food and medicine. A whopping 76% of Tory members said that warnings about a no deal Brexit are “exaggerated or invented, and in reality leaving without a deal would not cause serious disruption.” Just 18% said the warnings were realistic.

Read more …

The -legal- power of Monsanto should never be underestimated.

US Judge Limits Evidence In Trial Over Roundup Cancer Claims (R.)

A federal judge overseeing lawsuits alleging Bayer’s glyphosate-based weed killer causes cancer has issued a ruling that could severely restrict evidence that the plaintiffs consider crucial to their cases. U.S. District Judge Vince Chhabria in San Francisco in an order on Thursday granted Bayer unit Monsanto’s request to split an upcoming trial into two phases. The order initially bars lawyers for plaintiff Edwin Hardeman from introducing evidence that the company allegedly attempted to influence regulators and manipulate public opinion.

Thursday’s order applies to Hardeman’s case, which is scheduled to go to trial on Feb. 25, and two other so-called bellwether trials which will help determine the range of damages and define settlement options for the rest of the 620 Roundup cases before Chhabria. But Hardeman’s lawyers contended that such evidence, including internal Monsanto documents, showed the company’s misconduct and were critical to California state court jury’s August 2018 decision to award $289 million in a similar case. The verdict sent Bayer shares tumbling though the award was later reduced to $78 million and is under appeal. Under Chhabria’s order, evidence of Monsanto’s alleged misconduct would be allowed only if glyphosate was found to have caused Hardeman’s cancer and the trial proceeded to a second phase to determine Bayer’s liability.

Read more …

Time to cut all ties with Brazil.

New Brazil President Bolsonaro Launches Assault On Amazon Rainforest (G.)

Hours after taking office, Brazil’s new president, Jair Bolsonaro, has launched an assault on environmental and Amazon protections with an executive order transferring the regulation and creation of new indigenous reserves to the agriculture ministry – which is controlled by the powerful agribusiness lobby. The move sparked outcry from indigenous leaders, who said it threatened their reserves, which make up about 13% of Brazilian territory, and marked a symbolic concession to farming interests at a time when deforestation is rising again. “There will be an increase in deforestation and violence against indigenous people,” said Dinaman Tuxá, the executive coordinator of the Articulation of Indigenous People of Brazil (Apib).

“Indigenous people are defenders and protectors of the environment.” Sonia Guajajara, an indigenous leader who stood as vice-presidential candidate for the Socialism and Freedom party (PSOL) tweeted her opposition. “The dismantling has already begun,” she posted on Tuesday. Previously, demarcation of indigenous reserves was controlled by the indigenous agency Funai, which has been moved from the justice ministry to a new ministry of women, family and human rights controlled by an evangelical pastor. The decision was included in an executive order which also gave Bolsonaro’s government secretary potentially far-reaching powers over non-governmental organizations working in Brazil.

Read more …

Nov 062018
 
 November 6, 2018  Posted by at 2:06 pm Primers Tagged with: , , , , , , , , , ,  


Elio Ciol Via Portica, Assisi 1958

 

Pollsters were so wrong in 2016 you’d think they would have changed jobs by now. Yeah, sure. We remember the 97% prediction for a Hillary win, right? And the 92% from the New York Times? Happy days. Now we have the same suspects plying their usual trade again. As if nothing has changed. And that’s a bit of an issue. It would be beneficial if pollsters asked themselves why they got 2016 so wrong, but since there’s been little to no consequence for their livelihoods, they haven’t.

Because of the frenzy whipped out over today’s midterms, with almost everyone declaring this the most important midterms, if not elections, of their lifetimes, more people have participated in early voting, and far more than usual have expressed their intention to go vote.

And so the pollsters look at that and apply their age-old models to it. More people voting is good for the Democrats, as is more early voting, according to them, and so is more young people voting. Ditto for black people, Hispanics. Because that’s how it’s always been. And it’s easier that way than to actually go talk to people about their votes, and the reasons behind these votes.

But it’s as if Trump never happened in 2016, when his performance made that entire polling industry look like useless fools. How about if Trump’s rallies and tweets are a major reason why more Americans, and more young Americans, will go and vote? Certainly doesn’t sound crazy.

Update: after I wrote the above last night, first thing in the morning came this graph from NBC. I feel at least partly vindicated.

 

 

The Democrats and their media allies have a bit of a Catch-22 going on. They want to sound enthusiastic and confident about the midterms, but not so much that it will make potential voters stay away. It doesn’t seem to work: they again sound like they got it in the bag.

Moreover, their entire schtick is based on one thing only: Trump. Not being Trump is supposed to be their ticket to ride. They don’t actually have programs or policies, at least not on a national level. They’re simply betting on being able to whip up enough hatred of the Donald.

In a nation as polarized as America is these days, that is both extremely easy and extremely hard. Easy, because the one half of Americans who already despise the man read and see that part of the media that cultivates that hatred from dusk till dawn every single day.

Hard, because there are very few people left who are either on the fence or don’t hate the man, whose opinions could be changed by more of the same kind of ‘reporting’. The chips are down, the lines have been drawn.

If only the MSM could report on terrible economic numbers on top of labeling Trump a racist, misogynist, aniti-Semite, fascist. But the economy -on the surface- is doing fine, and it’s that, stupid. For many Americans, including fence-sitters, that’s what it’s all about.

One of the first things I read yesterday was a headline that said Hillary is still the Democrats’ best bet for 2020. I’m going to have to doubt that there’s a better illustration of what’s ailing the Democrats.

Even as there’s the issue of Schumer, Pelosi, Feinstein, Wasserman-Schultz and Waters still leading that party, while their only challengers insist on calling themselves ‘socialists’, which is to one’s election chances in America what a wooden stake is to a vampire’s odds of survival.

 

And they would still win by a wide margin if not for Trump. Because the Republicans have the exact same issues. They too are ruled by a bunch of sociopath pensioners who can’t and won’t let go of the thrill of power and the millions slipped to them under the table by banks and insurers and gunmakers.

There’s only one way for the nation to prevent being run by the cast of Cocoon, and that is Trump, and he’s 72 himself. A president has two terms, even if he’s under 50 years old, but Senators can stay forever even if they live to be 100. And changes to that are subject to decisions by that very same crew. It’s a bankrupt system in which voters can and do go bankrupt and politicians are all millionaires.

And yet the systems rolls out all it’s got to protect itself. But it’s gone overboard with that. There has been so much in the way of smear and allegations against Trump that turned out not be based on anything, that the MSM has muzzled itself, prevented itself from reaching anyone other than those who are already in their camp.

That’s what you get for confusing news and opinion. Of course it’s tempting, because it attracted so many viewers and readers, and so much money, but in the end, the WaPo, NYT and CNN have voluntarily given up access to half of America, and with them the Democrats have too. Down the line, that will prove to be a very costly ‘business model’.

 

In 2015 I predicted Trump would win the presidential elections. not based on his qualities so much, but the lack of qualities on Hillary’s side. This time I don’t want to predict the outcome of the midterms, but I just can’t see the Democrats win, let alone bigly, because they have nothing to offer other than not being the man responsible for more jobs and -so far- slightly, slowly higher wages.

If the Democrats do take the House, they can be expected to go after Trump and his administration, with more investigations in the vein of the Mueller one, endlessly protracted innuendo that doesn’t go anywhere. The polarization might well make America a de facto ungovernable country. If they take the Senate as well, Trump may be a lame duck, and impeachment talk will rear its ugly head again.

If the Republicans maintain control of both House and Senate, they will demand thorough investigations of the Mueller files and much more, like the Kavanaugh accusations. Not a highly desirable thing either, because it will lead to even more polarization. But how much deeper can they dig themselves into their trenches?

Both the Democrats and the MSM have painted themselves into a tight corner. They should engage in a dialogue with Trump, but how do you do that after publicly bashing someone 24/7 for 2 years and change?

That all said, it’s obvious that it truly will be an important day today. The only good outcome, regardless of the vote, would be for everyone to sit down and talk to each other. But what are the odds of that?

 

 

Oct 172018
 
 October 17, 2018  Posted by at 1:51 pm Finance Tagged with: , , , , , , , , , , , , , ,  


René Magritte Pandora’s box 1951

 

They can’t help themselves even as they hurt themselves. Look guys, chill! I saw someone imply on Twitter that Donald Trump is an accomplice in a murder cover-up. This person knows as well as all the ones who liked the tweet that they all just don’t know. They don’t know exactly what Trump knows about the chilling Khashoggi execution.

Just like they don’t know exactly what happened in the consulate. Information from anonymous Turkish sources is dripping through drop by drop, and it looks terrible -and terribly graphic-, but the conclusion that Trump wants to cover up a murder is multiple tokes over the line.

The Saudi attempt at labeling the execution a kidnapping gone wrong is out the window if only a tenth of the Turkish sources’ claims is true. What emerges is a picture of premeditated torture and murder. And one that was ordered by someone in the royal family. Which can really only be one of two people: the King or his son, MbS, and the latter seems more suspect. But what any of it has to do with Trump remains to be seen,

He’s not liking the whole thing one bit, that’s for sure. If only because whatever America does vis a vis the Saudi’s is now ultimately his call. While the strong link between the two countries was established decades ago, and would be very hard to untangle, if it comes to that. See, I can write Ban Saudi Oil, as I did last week, but I also realize how extensive the consequences for the US economy would be if such a thing were considered.

Not a decision you take lightly. Trump for instance knows full well what would happen to his standing and popularity if gas prices were to double or triple overnight. Is that a reason to let the Saudi’s get away with murder? No, but it is a reason to be circumspect, and to demand solid evidence. Doing that doesn’t make anyone an accomplice to a murder cover-up.

Moreover, the dependence on Saudi oil and the petrodollar arrangement is just one facet of what has driven US Middle East policy since WWII -and arguably before-, shaped by governments from both parties in Washington, and driven by very powerful intelligence agencies -both American and foreign- as well as the military-industrial complex.

You can’t blame that all on one man. Not Khashoggi, nor the ‘war’ in Yemen, or any of the bloodshed that has occurred before he became president. And you can’t expect him to end it all on a rainy afternoon either. If he would be inclined to do so. Since no president before him has been, you’d only be criticizing him for continuing established policy.

Every US president for many years has been an accomplice to murder, not just a cover-up, in Saudi Arabia, where women and gays and everyone else the House of Saud didn’t like end up without their heads attached to their torso. It’s how we get cheap oil, how we have built our societies and communities into what they are at present. Good design? Hell no. But it is what it is.

 

Still, allegations like the murder cover-up one keep coming. The reason is, as I’ve written many times now, that it makes the media money. Being anti-Trump sells. It has given us the Russiagate narrative, the Mueller investigation and tons of other stories that don’t go anywhere. Because it doesn’t matter if they are true, what counts is that they sell newspapers and TV commercials.

And there are some in the media, and certainly many in the anti-Trump echochamber, who still dream of impeaching him. But, as I said before, that doesn’t include the owners of papers and TV channels. They’ve never had a single person bring in sales like this, and it has saved many of their assets. All they need to do is twist everything that happens into something Trump can be blamed for.

That the Democratic Party is the main victim of this doesn’t seem to occur to anyone, really. Or maybe only Trump himself. Three weeks before the midterms, his detractors handed him another two main victories, free of charge. And one can’t help thinking: don’t you guys see what you’re doing?

A lawsuit filed by Michael Avenatti on behalf of Stormy Daniels, about a Trump tweet no less, was thrown out by a judge. The Senate a few weeks back refused to even talk to Avenatti’s other client, Julie Swetnick, in the Kavanaugh hearings, who had come up with a story about coordinated gang rape.

Avenatti has proven incredibly toxic to the Democrats, and they don’t appear to realize it. But he’s nothing compared to Elizabeth Warren, who all but folded her political career this week, after media -reluctantly- reported that the DNA test she wanted Trump to pay a million bucks over, showed she’s less Cherokee than 90-odd percent of white Americans. Liz, why, how, what were you thinking?

 

Guys, chill! You have elections coming up. Don’t hand it to the guy on a platter, let him at least exert some effort. The Democrats apparently still think they’re going to win the elections, that their echochamber tactics will turn people against Trump. In reality, they’re only talking, shouting, to themselves, and to people who already see things the same way they do anyway.

How many Democrats have you seen declaring that the US should stop selling weapons to the Saudi’s, should tell them to stop starving millions of Yemeni children, should cut off all communication until the truth about Khashoggi is revealed? Me neither. Their identity is no different from Trump, other than on minor issues, the only identity they have is they’re against him. And that’s the same as having none.

While there are so many issues that people should really go after Trump for, all that we see are fake narratives about Russian collusion, which, as I’ve explained, we now know are false because Mueller hasn’t reported anything, and if he had any proof he would have to reveal it because he couldn’t sit on evidence about a president colluding with a foreign power for even one day.

Which is perhaps why, though the timing is strange with the midterms in less than three weeks, two of the strongest anti-Trump media, the Washington Post and the BBC, came out with pieces in the past 24 hours that hesitantly say a few positive things about Trump, albeit clad in inevitable smears and accusations.

The WaPo:

 

Trump Could Be The Most Honest President In Modern US History

Donald Trump may be remembered as the most honest president in modern American history. Don’t get me wrong, Trump lies all the time. He said that he “enacted the biggest tax cuts and reforms in American history” (actually they are the eighth largest) and that “our economy is the strongest it’s ever been in the history of our country” (which may one day be true, but not yet).

In part, it’s a New York thing – everything is the biggest and the best. But when it comes to the real barometer of presidential truthfulness – keeping his promises – Trump is a paragon of honesty. For better or worse, since taking office Trump has done exactly what he promised he would do.

 

And the BBC:

 

Is This The Most Successful Month Of The Trump Presidency?

These days there seems to be even more of a swagger as Donald Trump strides across the South Lawn to board his green-liveried helicopter, Marine One. Those campaign-style rallies, which have become such a marked feature of his presidency, have even more of a celebratory charge. The president seems more willing to answer reporters’ questions, partly because there is a better story to tell.

Last week he also sat for the first 60 Minutes interview of his presidency, which aired on Sunday night. The veteran CBS presenter Lesley Stahl, who conducted this cross-examination, was struck by his self-assurance. “Right now,” she said afterwards, “he’s so much more confident. He is truly president. And you felt it. I felt it in this interview.”

 

If you didn’t know better, you’d think they’re trying to boost the guy ahead of the elections. Me, I’m wondering why such media don’t harp every single day on the ongoing issue of family separation. And keep at it till every American -and Brit- talks about it. Instead, their biggest story this week has been that Pocahontas was of 1/1024th Native American descent. Or something in that vein.

As for Khashoggi, that story appears to have taken on a life of its own, drip-fed by Erdogan at first, but it seems to have reached a point where even if Erdogan gets what he wanted and cuts the drip, it won’t stop. It’s been a weird dynamic, how one man’s fate is more important than that of millions of others.

Where did that come from? Someone powerful seeing an opportunity to get rid of MbS? Still find it hard to gauge. It doesn’t look as if MbS can be maintained in his position by his father. Too much bad publicity, too much at risk financially. And it would be convenient if Trump and King Salman would agree to push him aside, put all the blame on him, and see if that satisfies the media and public.

But the King may still try and go for broke. And his son may also have usurped too much power for the dad to order him gone. But that would mean a major headache for Trump. How about if either the king or the prince decide to gamble and threaten to end the petrodollar? What would the echochamber suggest Trump does then?

 

 

Sep 252018
 
 September 25, 2018  Posted by at 12:55 pm Primers Tagged with: , , , , , , , , , , , , ,  


Salvador Dali Galatea of the Spheres 1952

 

Axios reporter Jonathan Swan “broke” the story yesterday morning that Rod Rosenstein was going to resign before he would be fired, and he was on his way to the White House for that. Just about every would-be journalist in the US followed suit with speculation and ‘updates’ by anonymous sources either close to the White House or to Rosenstein.

Through the day it became clear that Swan’s entire story was pure speculation (though he just published an alleged resignation letter), and at the end of the day Rosenstein is still the Deputy AG, scheduled for a talk with Trump on the entire matter on Thursday. In short, Jonathan Swan dented Axios’ credibility by more than he will admit. So who has any credibility left by now? It’s not a long list anymore. Where can you get your news? Not where you used to.

Several voices volunteered that the White House had pumped the Rosenstein story in order to deflect attention from the Kavanaugh narrative. That made little sense: why would they do that? There may be some who think that Kavanaugh means a whole lot of trouble from Trump, but are they really paying attention, or merely thinking wishfully?

Kavanaugh himself didn’t look all that destroyed in his interview last night. And he made a very bold move: he said he was a virgin until well past high school. All it would take to break down that claim is one woman to step forward and say she had sex with him. And if he did have consensual sex even just once, nothing to do with assault, he’d still be exposed as a liar, so why make such a claim unless it’s true?

All this puts the allegations made against him in an eery light. Christine Blasey Ford’s story looked shaky from the start, because of all the things she said she couldn’t remember, but many people were granting her the benefit of the doubt. Then Deborah Ramirez added an allegation that if anything looked even less coherent. Even the New York Times could find no-one to corroborate her story, and she herself couldn’t, either.

Now, for all we know Kavanaugh may have been an adolescent monster, but we would still need proof of that before we nail him to a cross, or, worse still, keep him off the Supreme Court. Which is, obviously, what got the whole circus started.

 

Thursday will be yet another eventful day in the guaranteed to be always entertaining presidency of Donald Trump, and we wonder in eager anticipation how Axios and all the other news outlets will cover the events. Their Kavanaugh narrative looks shot right now, but we’d expect another woman, or two, or ten, to pop up with inflammatory tales.

Look for the one about consensual sex, that would seem to have a better chance than another assault with a penis chapter, and he set it up himself last night by his virgin declaration. Also, look for desperate attempts to smear the judge. There are still many people in Washington and beyond who really really don’t want him confirmed.

But then, everything they tried so far has backfired, even if that’s not what they see. That same thing may well happen in the Rosenstein saga. It’s no secret, never has been, that Trump has different opinions than Rosenstein, or for that matter Jeff Sessions, have on several matters. But they’re both still in their jobs.

Trump appointed Rosenstein, and he appointed Sessions, who turned around and recused himself from the Russian collusion case, putting Rosenstein in charge of that. Rosenstein appointed former FBI chief Robert Mueller as Special Counsel, though it was obvious from miles away that the FBI was heavily involved in the case.

Now, after all the Strzok/Page mails and the Andrew McCabe bumbling, we know that Robert Mueller, after almost two years, still hasn’t found any proof of collusion. We know this because he hasn’t presented any, which he would have been obliged to do if he had any, simply because the allegation of working with a foreign government to undermine the US is so serious; you can’t hold back that sort of information.

 

That all said, is it so strange that Trump has perhaps had enough of this? That he might like an actual Attorney General who actually takes charge of the case, and a Deputy AG who has some distance from Mueller and asks him to finish up the investigation which hasn’t produced anything but tax evasion charges for Manafort and 14 days in jail for Papadopoulos, who presumably pled guilty because, like Michael Flynn, he couldn’t afford to defend himself?

There are times one gets the impression the whole thing only continues because newspapers and TV channels make so much money off of painting Trump as the modern Antichrist. And while the man undoubtedly is full of flaws, that’s not what they’re all aiming for. They go for Russiagate, because it sells to have an archenemy to talk about, and they go for Stormy Daniels and Kavanaugh’s penis, because sex sells more than anything.

Along with all the anti-Trump rhetoric, there is a running story about a Blue Wave that will hand the Democrats back control over the House and perhaps the Senate. But while I think it might be good to restore some balance in Washington, if only so people must actually talk, I also think that Blue Wave thing is perhaps the biggest mistake America’s formerly left can make.

Because the Democrats, no matter how they see themselves, have no identity. Other than they’re not Trump and they hate the man. We saw that loud and clear the other day when they helped the GOP push a record military budget through the House. They’re merely a flipside of a coin. They have nothing of their own.

Yes, there’s Ocasio-Cortez and a handful others who try to define something different, but surely they must know that when you call yourself Socialist in America you’re tying an arm and a leg behind your back. Kudos for trying, but that’s not going to work. Bernie Sanders is done after allowing Hillary’s DNC to push him aside; people remember such things.

That leaves the usual suspects, Schumer, Pelosi, Feinstein, calcifying in their seats, with Hillary in the wings for a glorious return to viability in 2020. And they think that combo will make them win elections, and win them big, just because voters are so sick of Trump? Methinks perhaps they have started to believe their own stories, while neglecting those of their one-time voters.

 

But sure, let’s see what happens on Thursday, and before, with Blasey Ford and Kavanaugh’s testimonies, and with Rosenstein’s friendly chat with the President. I’m thinking there’s nothing so bizarre I would count it out, but I may have to rethink that. Maybe Robert Mueller will resign tomorrow before Rosenstein can be fired -assuming Trump would want to-, maybe Kavanaugh had sex with an entire boys’ choir twice a week, leaving him technically still a virgin.

Our fantasy is just about endless. But that’s the exact biggest problem with everything about this: there’s far too much fantasy involved, far too many allegations that remain unproven but leave traces left and right, far too many accusations that nobody is made to own up to.

One last thing: if it turns out Christine Blasey Ford can prove none of her accusations vs Kavanaugh, and he’s been telling the truth all along, what does that mean for all the women who’ve told their stories of rape and assault under the #WhyIDidntReport hashtag? How betrayed will they feel, how tricked? Or will they continue to insist that he must be guilty even if there is zero proof?

And no, it’s not Just the Democrats, it’s Washington as a whole, egged on by despairing media who see their revenues and credibility plunge and resort to cheap tricks. The Republicans with their inane plans to re-open the hunt on grizzlies are just as bad. Want to Make America Great Again? Start with protecting the grizzlies and manatees and moose and eagles. They are what makes the country rich. There won’t be anything great about a barren desert land devoid of life.

But the urgent question in Washington right at this moment is, in light of Rosenstein and Kavanaugh: how deeply can you divide a country, for political ends, before it bursts? And what will it take, what can still be done today, to pull it away from the looming abyss?

 

 

Aug 092018
 


René Magritte The evening gown 1954

 

Julian Assange has received an letter from the US Senate asking him to testify in front of them. What to make of that is not entirely clear. Far as I know, Assange offered such testimony multiple times, under the ‘right standards’. The Senate ostensibly wants this to take place behind closed doors, and it’s hard to see how that would fit Assange’s standards. But who knows?

What struck me was that the letter was signed by Senators Richard Burr (R-NC) and Mark Warner (D-VA). and especially the latter runs like a red thread through everything that has to do with Assange and the US. It reminded me of what John Solomon said in his June 25 piece ‘How Comey Intervened To Kill Wikileaks’ Immunity Deal’ about Assange lawyer Adam Waldman, who according to Solomon has a ‘Forrest Gump-like penchant for showing up in major cases of intrigue’.

Mark Warner has that, too. What made me return to this is that in his piece yesterday on the Senate request, Tyler Durden, referring to Solomon’s article, wrote: After Assange’s request was run up the flag pole, Senator Warner was issued a “stand-down” order by Comey.. And I thought: I’m not sure that’s entirely correct, and not only because Comey cannot ‘order’ a US Senator to do anything.

The stand down order was not for Warner, he just passed it on to Waldman and his counterpart acting for the DOJ, David Laufman, head of Justice’s counterintelligence and export controls section. NOTE: we don’t even know if the stand down didn’t really come from Warner, or Comey AND Warner, or someone else altogether.

What we do know is that it was a very peculiar order at a very peculiar moment in time, because the intelligence community could have gotten something tangible and valuable out of the negotiations. Solomon: “..officials “understood any visibility into his thinking, any opportunity to negotiate any redactions, was in the national security interest and worth taking,” says a senior official involved at the time.

They were well on their way to -at least potentially- save the lives of CIA operatives and assets. Negotiations had been going on for at least 2 months, and probably more like three. But then Assange offered to provide evidence that he didn’t get the DNC files from Russia. And that seems to have changed the atmosphere. Tyler has some more about this, outside of the Solomon piece:

‘Last August, Congressman Dana Rohrabacher travelled to London with journalist Charles Johnson for a meeting with Assange, after which Rohrabacher said the WikiLeaks founder offered “firsthand” information proving that the Trump campaign did not collude with Russia, and which would refute the Russian hacking theory.’ After Trump denied knowledge of the potential deal, Rohrabacher raged at Trump’s Chief of Staff, John Kelly, for constructing a “wall” around President Trump by “people who do not want to expose this fraud.”

NOTE: that meeting took place 4-5 months AFTER the Comey (et al?) stand down order. So Assange was still reaching out and offering to spare individual CIA assets. He has released a lot of the CIA Vault 7 files, but not all. To my knowledge he has held back on that to this day.

 

I don’t know how much you still follow from the pro-Russiagate press, which is about the entire US MSM, but Rohrabacher is habitually called a traitor, a Putin puppet and worse for talking to Russians, just like he is for going to see Assange. Once you start trying to find a way out of the ever tighter woven Russia Russia web, you’re fair game. Even if that’s simply your job as a Congressman, or at least your interpretation of what the job entails.

Back to Solomon for a bit. What he describes is not some amnesty deal, but a “Queen for a Day” proffer. Which in this case was essentially a safe passage guarantee for Assange to leave the Ecuador embassy only to go talk to US government people. We don’t know all the prospective topics of the talks, and they don’t seem to have agreed on a location (London, Washington?!) before the Comey order. Solomon:

Not included in the written proffer was an additional offer from Assange: He was willing to discuss technical evidence ruling out certain parties in the controversial leak of Democratic Party emails to WikiLeaks during the 2016 election. The U.S. government believes those emails were hacked by Russia; Assange insists they did not come from Moscow.

“Mr. Assange offered to provide technical evidence and discussion regarding who did not engage in the DNC releases,” Waldman told me. “Finally, he offered his technical expertise to the U.S. government to help address what he perceived as clear flaws in security systems that led to the loss of the U.S. cyber weapons program.”

That is just funny: Assange offered to help the CIA on its security systems. That must have pissed them off mightily, because it can only mean they really needed to strengthen security (or he wouldn’t have brought it up). But then Waldman reaches out to Warner, in what may well have been a fatal mistake. The talks with the DOJ were going well, and might have been enough. Getting politics involved in it was one took over the line:

[..] Just a few days after the negotiations opened in mid-February, Waldman reached out to Sen. Warner; the lawyer wanted to see if Senate Intelligence Committee staff wanted any contact with Assange, to ask about Russia or other issues. Warner engaged with Waldman over encrypted text messages, then reached out to Comey. A few days later, Warner contacted Waldman with an unexpected plea.

“He told me he had just talked with Comey and that, while the government was appreciative of my efforts, my instructions were to stand down, to end the discussions with Assange,” Waldman told me. Waldman offered contemporaneous documents to show he memorialized Warner’s exact words.

Waldman couldn’t believe a U.S. senator and the FBI chief were sending a different signal, so he went back to Laufman, who assured him the negotiations were still on. “What Laufman said to me after he heard I was told to ‘stand down’ by Warner and Comey was, ‘That’s bullshit. You are not standing down and neither am I,’” Waldman recalled.

A source familiar with Warner’s interactions says the senator’s contact on the Assange matter was limited and was shared with Senate Intelligence chairman Sen. Richard Burr (R-N.C.). But the source acknowledges that Warner consulted Comey and passed along the “stand down” instructions to Waldman: “That did happen.”

Okay, so we have Warner very much in the thick of the DOJ negotiations with Assange. Fast forward to late June 2018, when his name pops up again in a list of 10 Democratic Senators who asked Vice President Mike Pence to, on a visit to Ecuador, ask new president Lenin Moreno, to revoke Assange’s asylum on the London embassy.

 

 

Warner is there, along with such fine human beings as Dianne Feinstein, and the two Dicks Durbin and Blumenthal. Wikileaks, which posted the list, suggested: “Remember them”. Looks like an idea. Why would the Democratic party want Assange delivered to the lions? Oh, right, Russia Russia, the entirely unproven allegations which they are so desperate to tie Assange into.

They can’t prove any of the many allegations of Russian meddling, let alone their role in Hillary’s election loss, and they can’t prove any allegation against Julian Assange, at least none that he could be charged for/with, but tie Russia and WikiLeaks together and they feel they no longer have to prove anything at all, that mere allegations are strong enough.

If there is no crime Assange can be accused of, you just label him a terrorist, and all your legal problems disappear. Because terrorism can be anything, and because of national security reasons, any evidence, whether it exists or not, must be treated in secret. What reason, what grounds, do these Senators have to ask Ecuador to revoke Assange’s asylum? What legal grounds could possibly exist? We have no way of knowing, and because they label Julian a terrorist, we have no right to, either. Or so they claim.

This is called abomination of justice. In the same way that America and Britain’s treatment of him is called torture. And no, that is not too strong a term. A man who has never been charged with a crime by anyone, in any country, is being tortured. Julian has severe, painful, dental problems, he has developed a condition that makes his legs swell, and his bone density is dropping fast due to extended lack of sunlight.

These people have simply decided to wait it out, so they don’t have to go through elaborate legal procedures that they may well lose, to wait until Assange has no choice but to walk out of the embassy, or be carried out on a stretcher or in a coffin. It’s not even possible to list all the British, American, Ecuadorian and international laws his treatment violates.

Someone should give it a try, though. Just like someone should investigate Mark Warner’s role in all of this. Warner was pivotal in killing off the Assange legal teams’ talks with the DOJ, he asked Ecuador to stop Assange’s asylum (which is so illegal you don’t even want to go there), and now he requests for Assange to appear before the US Senate.

Someone investigate that guy. If I can say one last thing, it would be that Warner exemplifies all that is wrong with the US Democratic Party. He’s the Forrest Gump of all their future election losses. The Democrats should be standing up to protect people like Assange, but instead they follow the example of Hillary, who said about Assange “can’t we drone this guy?”.

Yeah, the very guy who’s never been charged with a single crime. She undoubtedly said it in the same tone of voice as her insane cackle of “We came, we saw, he died” about Gaddafi. Looked at Libya lately?

The essence of this is that we will be better people, and better societies, with Julian Assange around to help us be better. Without him, things look a whole lot darker. We need to be able to hold politicians, corporations and secret services to account. And the more they resist this, often in illegal ways, the more we must insist.

The idea was never that we must answer to them. They must answer to us, and we must be able to throw them out when they cross legal and moral lines. It’s beyond the pale that that has to be explained once again. And trying to explain that, with examples, is all that Julian Assange has ever done.

 

 

May 102018
 
 May 10, 2018  Posted by at 9:24 am Finance Tagged with: , , , , , , , , , , , ,  


Paul Gauguin Road in Tahiti 1891

 

Beware of the Coming Economic Debt Bomb (Tanous)
Argentina Looks To Be Headed For Another Economic Storm (CNBC)
At Last, A Reason To Celebrate: House Prices Are Falling (G.)
RBS Reaches $4.9 Billion Deal To Settle US Mortgage Bond Probe (R.)
The Deep State First (Stockman)
Turkey Detains Dozens Of Air Force Personnel Over Gulen Links (R.)
Did Putin Green-Light Tonight’s Massive Israeli Strikes On Syria? (ZH)
Trump Welcomes Home Three Americans Released By North Korea (G.)
Democrats’ Lead Is Slipping In Generic Ballot Poll (Hill)
Is Capitalism a Threat to Democracy?
Bullshit Jobs: Why They Exist And Why You Might Have One (Vox)

 

 

“..over half of all personal income taxes will be required just to service the national debt.”

Beware of the Coming Economic Debt Bomb (Tanous)

In 2009, the year President Obama took office, the national debt held by the public was $7.27 trillion. At the end of fiscal 2016, that had soared to approximately $14 trillion. Given that our marketable debt doubled from 2009 to 2016, it’s remarkable that the annual cost of the interest on the debt rose far less, from $185 billion to $223 billion. The long march of rising rates that began recently is a dramatic reversal after nearly 40-years of declining interest rates. The new trend portends a return to more historic rates. You may be asking: what are the historic rates? We calculate that the average rate paid on the federal debt over the last 30 years was close to 5%. The Congressional Budget Office (CBO) has just raised its estimate that debt held by the public will rise to $17.8 trillion in 2020.

Some economists believe that the figure will be much higher. For our exercise though, let’s stick with the CBO estimate. We are postulating that the interest rate on our national debt may return to the long-term, 30-year average of 5%. Note, too, that Treasury debt rolls over every 3 to 4 years so the maturing bonds at low interest rates will be refinanced at the then current higher rates. Let’s do the math together. Take the CBO estimate of debt held by the public of $17.8 trillion in 2020, a 5% average interest on that amount comes to annual debt service of $891 billion, an unfathomable amount. (In 2017, interest on the debt held by the public was $458.5 billion, itself a scary number.)

In its current report, the CBO added: “It also reflects significant growth in interest costs, which are projected to grow more quickly than any other major component of the budget.” Here’s the danger: • According to CBO, individual income taxes produced $1.6 trillion in revenue in fiscal year 2017. • Under this 2020 scenario, over half of all personal income taxes will be required just to service the national debt. • Annual debt service in 2020 will exceed our newly increased defense budget of $700 billion in FY 2018. • Annual debt service would exceed our Social Security obligations.

Read more …

[The IMF] “..admitted shortly after the intervention that its support to keep the peso’s peg against the dollar prolonged the crisis in the country.”

Argentina Looks To Be Headed For Another Economic Storm (CNBC)

Argentina has started talks with the IMF seeking financial rescue once again, as inflation soars and the currency sinks. Buenos Aires looks to be going through another economic nightmare, with prices rising rapidly while the Argentine peso drops. The central bank announced last week another increase in rates to 40% — as the 12-month inflation rate hit 25.4%, above its 15% target. At the same time, since the start of the year, the peso is down by more than 20% against the U.S. dollar. [..] Asking for help from the Fund is a contentious issue for the country. Back in 2001, Argentina defaulted on $132 billion of foreign debt. The Washington-based institution, which was helping the country at the time, admitted shortly after the intervention that its support to keep the peso’s peg against the dollar prolonged the crisis in the country.

Following Macri’s announcement Tuesday, several people protested against a new IMF intervention, still traumatized by the economic collapse at the start of the century, Reuters reported. “The IMF has a terrible reputation among Argentinians, and so this is a big political gamble for the government,” Fiona Mackie, regional director for Latin America at the Economist Intelligence Unit, told CNBC via email. “At present, though, (the government) clearly sees the need to regain the confidence of markets as more pressing, and is hoping that its program of adjustment gets back on track in time for the presidential election late next year,” she added.

Read more …

“The Germans are right. Ever-rising house prices are a curse. They are bad for social mobility. They are bad for young people. And they are bad for the economy. ”

At Last, A Reason To Celebrate: House Prices Are Falling (G.)

The housing market is dead. Britain’s biggest mortgage lender, the Halifax, says that prices fell in April by 3.1%, the biggest monthly drop in almost eight years. Newspapers bury this disastrous news way back in their editions for fear that it will spread gloom and despondency. We need to wean ourselves off this way of thinking. Falling house prices are not disastrous, and only in a country with such a perverted relationship with bricks and mortar could they be seen as such. In Germany, they scratch their heads in bemusement when they hear Britons boast of how the value of their house has soared. The Germans are right. Ever-rising house prices are a curse. They are bad for social mobility. They are bad for young people. And they are bad for the economy.

The billions that are spent pushing up property prices could be more productively invested elsewhere. Imagine for a second that the next time you went to the train station the rail operating company had unexpectedly cut fares by 5%. Or that when doing your weekly shop you discovered that the supermarket had slashed your normal bill by £10. Would you think this was an unwelcome development? Daft question. Of course you would be happy, because your money would go further. Conversely, you would be less than chuffed to find more of your pay being spent on getting to work or putting food on the table. That’s why there are no headlines in the papers screaming “Boom-boom Britain: joy for commuters as rail fares rise by 10% for third year in a row”, or “Good news for families as supermarkets add £10 a week to the average shop”.

The papers stand up for their readers when they think they are being gouged by train companies and supermarkets. They stick up for buyers rather than sellers. But different rules apply to property. If the average house price had risen rather than fallen by £7,000 in April, that would have been front-page news and hailed as a sign that all was well with the economy. The papers tend to side with owner-occupiers rather than the buyers of property getting the rough end of the deal. This fetishisation of rising house prices is relatively recent. For the first 25 years after the second world war, a combination of mass housebuilding and strict controls on credit meant that the cost of property rose only modestly.

But since 1970, financial deregulation, much lower levels of housebuilding and a tax system heavily weighted in favour of owner-occupation have meant demand for housing in parts of the country has tended to outstrip supply. There have been four big house-price booms – the early 1970s, the late 80s, the mid 00s and the mid 10s. None of them have ended well.

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No criminal charges.

RBS Reaches $4.9 Billion Deal To Settle US Mortgage Bond Probe (R.)

The British state-backed bank said that $3.46 billion of the proposed civil settlement will be covered by existing provisions and the bank will take a $1.44 billion incremental charge in 2018’s second quarter to cover the rest. The accord would resolve a major issue that has weighed on the company’s share price and complicated the UK government’s plan to sell down its more than 70 percent stake in the bank. RBS Chief Executive Ross McEwan called the deal a “milestone.” “Removing the uncertainty over the scale of this settlement means that the investment case for this bank is much clearer,” he said in a statement.

The U.S. Attorney’s Office in Massachusetts, which led the probe, confirmed it had reached an agreement in principle with RBS that would resolve potential civil claims related to mortgage-backed securities that were issued from 2005 to 2008. “Further details remain to be negotiated, however, before a formal agreement can be reached,” the office said. The implosion of markets for risky residential mortgage-backed securities and related derivatives contributed to the 2008 global financial crisis and prompted a series of investigations by authorities including the Justice Department. The U.S. Attorney’s Office in Massachusetts had also been conducting a criminal investigation into RBS and former employees who were involved in structuring and selling the securities.

But the settlement that RBS and the office disclosed on Thursday was only civil in nature, signaling no criminal charges were likely to result. RBS previously agreed in July 2017 to pay $5.5 billion to resolve a lawsuit by the Federal Housing Finance Agency, the conservator for Fannie Mae and Freddie Mac, claiming it misled the U.S. mortgage giants into buying mortgage-backed securities. It resolved similar claims by the National Credit Union Administration related to mortgage-backed securities RBS sold to credit unions that later failed for $1.1 billion in 2016.

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“The mere threat of a military attack from the White House is madness because it arises from blatant lies that have absolutely nothing to do with US national security..”

The Deep State First (Stockman)

At his so-called Cabinet meeting this morning, the Donald basically threatened Iran with annihilation if it does what 15 other signatories to the nuclear non-proliferation treaty (NPT) do every day: Namely, increase production of industrial grade nuclear fuel (3.5%-5.0% purity) at its enrichment plant at Natanz—which, in any event, is crawling with IAEA inspectors. Moreover, it really doesn’t matter whether Trump was play-acting in the style of Art of the Deal or that the JPAOC could be improved. The mere threat of a military attack from the White House is madness because it arises from blatant lies that have absolutely nothing to do with US national security. Nor, for that matter, the security of any other country in the region, including Saudi Arabia and Israel.

The real purpose of the Donald’s missile-rattling is nothing more than helping Bibi Netanyahu keep his coalition of right wing religious and settler parties (Likud, United Torah Judaism, Shas, Kulanu and the Jewish Home) together, thereby maintaining his slim 61-vote majority in the 120-seat Knesset. Netanyahu’s malefic political glue is the utterly false claim that Iran is an “existential threat” to Israel because it is hell-bent on getting the bomb. But that’s where the whopper comes in. It amounts to the ridiculous postulate that Iran is so fiendishly evil that if it is involved in the nuclear fuel cycle in any way, shape or form – presumably even just operating a uranium mine – it is only a matter of months before it will have a bomb.

As a matter of record, of course, Netanyahu has been saying this since the early 1990s and he has always been wrong because there were never any facts or logic to support his blatant fear-mongering.

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Madman,

Turkey Detains Dozens Of Air Force Personnel Over Gulen Links (R.)

Turkish police detained 65 suspects on Thursday in an operation targeting air force personnel accused of links to the U.S.-based preacher whom Ankara says orchestrated an attempted coup in 2016, state-run Anadolu news agency said. Prosecutors issued arrest warrants for a total 96 people, of which 91 were from the air force, and police were still seeking the remaining suspects in an operation focused on the western city of Izmir and spread across 15 provinces, it said. The suspects were said to have ties to the cleric Fethullah Gulen, whose network is accused of being behind the failed putsch in July 2016, during which 250 people were killed. Gulen has denied involvement.

In a separate operation, an Ankara prosecutor on Thursday issued detention warrants for 93 employees of a private tutoring center that was previously closed down on suspicion of links to Gulen’s network, Anadolu said. Turkish authorities have detained 160,000 people and dismissed nearly the same number of civil servants since the failed military intervention, the U.N. human rights office said in March. Among those detained, more than 50,000 have been formally charged and kept in jail during their trials.

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Hmmm…

Did Putin Green-Light Tonight’s Massive Israeli Strikes On Syria? (ZH)

Just off a 10-hour visit with Russian President Vladimir Putin in Moscow, and less than a day after Trump pulled out of the Iran nuclear deal, Israeli Prime Minister Benjamin Netanyahu said on Wednesday he doesn’t expect Russia to act against Israeli forces as they continue exchanging fire with Syria. It appears the meeting wrapped up at the very moments a major escalation began along the Golan Heights, with both Syria and Israel trading blame for an initial attack which quickly escalated into Israeli cruise missile launches and shelling on targets in southern Syria and notably, on Damascus itself. The question remains, did Putin give Netanyahu the green light for tonight’s events?

If it wasn’t clear over the past weeks and months of unprovoked Israeli strikes on Syria—ostensibly to roll back Iranian troop presence—then it should be very clear by now that Syria, Israel, and Iran are now in a state of war and all signs point to a continued intensification of the conflict. And crucially, there’s currently no sign that Russia came to the aid of its close ally as rockets rained down on Damascus overnight. Russia has routinely looked the other way while Israel has conducted, by its own admission, over one hundred major strikes on Syria—most of which have come after Russian intervention on behalf of Assad in 2015. As Reuters reported late in the day Wednesday, Netanyahu told reporters just before departing Moscow: “Given what is happening in Syria at this very moment, there is a need to ensure the continuation of military coordination between the Russian military and the Israel Defence Forces.”

The Russians and Israelis coordinate their actions through a direct military hotline intended to avoid accidental clashes which could lead to escalation between the two countries. A reportedly “upbeat” Netanyahu further said, “”In previous meetings, given statements that were putatively attributed to – or were made by – the Russian side, it was meant to have limited our freedom of action or harm other interests and that didn’t happen, and I have no basis to think that this time will be different.” Thus it appears Israel may have been given a green light by Putin to engage targets in Syria, however, at this point it is unclear what limitations or restrictions Putin may have issued, if any at all.

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Victory.

Trump Welcomes Home Three Americans Released By North Korea (G.)

Three Americans released by North Korea have landed in the US under cover of darkness, with Donald Trump waiting on the tarmac to greet their plane. The three men emerged from a US government plane, flashing peace signs high above their heads. A huge US flag hung between two fire trucks served as a backdrop against the night sky. “I want to thank Kim Jong-un,” Trump said. “I think he wants to do something and bring that country into the real world.” “We didn’t think this was going to happen, and it did. It was very important to all of us,” he said, referring to the prisoner release. “The true honour will be if we have a victory in getting rid of nuclear weapons.” The US secretary of state, Mike Pompeo, flew to Pyongyang for a surprise one-day visit on Wednesday, when he met the North Korean leader and secured the release of the three men.

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What do Democrats stand for?

Democrats’ Lead Is Slipping In Generic Ballot Poll (Hill)

The lead held by Democrats over Republicans on generic ballot polls ahead of the 2018 midterm elections is beginning to slip, a new CNN poll suggests. Overall, 31% of respondents in a poll released Wednesday told CNN that they believe the country would be better off with Democrats in control of Congress, while 30% said Republicans should hold the reins. However, the largest proportion of respondents, at 34%, said it makes no difference to them who is in charge. Among registered voters asked whether they would vote Democratic or Republican in their congressional district if the elections were held today, Democrats had a three-point advantage, at 44% to 41%, which is within the poll’s margin of error.

Democrats have seen a steady decline in their advantage over Republicans in recent months, according to CNN polling, falling from a 16-point advantage in February to a 6-point one in March, to just a 3-point lead this week, roughly six months away from the midterm elections. An ABC News/Washington Post poll similarly found last month that Democrats’ lead over Republicans among registered voters was only 4 points, at 47% to 43%, down from a 12-point lead the poll found Democrats held in January. Democrats still have an edge in enthusiasm, according to CNN. Among respondents who said they are excited to vote in November, more plan to vote Democratic than Republican, at 53% to 41%.

But enthusiasm does seem to be growing among GOP voters. According to the CNN poll, 44% of Republican and Republican-leaning registered voters said they were “very enthusiastic” about voting, which is a jump from 36% in March. [..] President Trump’s own job approval has increased recently, with his approval rating at 41% in the CNN poll and his approval over his handling of the economy at 52%.

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On Polanyi.

Is Capitalism a Threat to Democracy?

In a sweeping, angry new book, “Can Democracy Survive Global Capitalism?” (Norton), the journalist, editor, and Brandeis professor Robert Kuttner champions Polanyi as a neglected prophet. Like Polanyi, he believes that free markets can be crueller than citizens will tolerate, inflicting a distress that he thinks is making us newly vulnerable to the fascist solution. In Kuttner’s description, however, today’s political impasse is different from that of the nineteen-thirties. It is being caused not by a stalemate between leftist governments and a reactionary business sector but by leftists in government who have reneged on their principles.

Since the demise of the Soviet Union, Kuttner contends, America’s Democrats, Britain’s Labour Party, and many of Europe’s social democrats have consistently tacked rightward, relinquishing concern for ordinary workers and embracing the power of markets; they have sided with corporations and investors so many times that, by now, workers no longer feel represented by them. When strongmen arrived promising jobs and a shared sense of purpose, working-class voters were ready for the message.

[..] Polanyi starts “The Great Transformation” by giving capitalism its due. For all but eighteen months of the century prior to the First World War, he writes, a web of international trade and investment kept peace among Europe’s great powers. Money crossed borders easily, thanks to the gold standard, a promise by each nation’s central bank to sell gold at a fixed price in its own currency. This both harmonized trade between countries and stabilized relative currency values. If a nation started to sell more goods than it bought, gold streamed in, expanding the money supply, heating up the economy, and raising prices high enough to discourage foreign buyers—at which point, in a correction so smooth it almost seemed natural, exports sank back down to pre-boom levels.

The trouble was that the system could be gratuitously cruel. If a country went into a recession or its currency weakened, the only remedy was to attract foreign money by forcing prices down, cutting government spending, or raising interest rates—which, in effect, meant throwing people out of work. “No private suffering, no restriction of sovereignty, was deemed too great a sacrifice for the recovery of monetary integrity,” Polanyi wrote. The system was sustainable politically only as long as those whose lives it ruined didn’t have a say. But, in the late nineteenth and early twentieth centuries, the right to vote spread. In the twenties and thirties, governments began trying to protect citizens’ jobs from shifts in international prices by raising tariffs, so that, in the system’s final years, it hardened national borders instead of opening them, and engendered what Polanyi called a “new crustacean type of nation,” which turned away from international trade, making first one world war, and then another, inevitable.

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More Graeber. Most jobs are bullshit.

Bullshit Jobs: Why They Exist And Why You Might Have One (Vox)

Corporate lawyers. Most corporate lawyers secretly believe that if there were no longer any corporate lawyers, the world would probably be a better place. The same is true of public relations consultants, telemarketers, brand managers, and countless administrative specialists who are paid to sit around, answer phones, and pretend to be useful. A lot of bullshit jobs are just manufactured middle-management positions with no real utility in the world, but they exist anyway in order to justify the careers of the people performing them. But if they went away tomorrow, it would make no difference at all. And that’s how you know a job is bullshit: If we suddenly eliminated teachers or garbage collectors or construction workers or law enforcement or whatever, it would really matter. We’d notice the absence.

But if bullshit jobs go away, we’re no worse off. [..] We’re all taught that people want something for nothing, which makes it easy to shame poor people and denigrate the welfare system, because everyone is lazy at heart and just wants to mooch off other people. But the truth is that a lot of people are being handed a lot of money to do nothing. This is true for most of these middle-management positions I’m talking about, and the people doing these jobs are completely unhappy because they know their work is bullshit. I think most people really do want to believe that they’re contributing to the world in some way, and if you deny that to them, they go crazy or become quietly miserable.

[..] You expect this outcome with a Soviet-style system, where you have to have full employment so you make up jobs whether a need exists or not. But this shouldn’t happen in a free market system. I think one of the reasons is there’s huge political pressure to create jobs coming from all directions. We accept the idea that rich people are job creators, and the more jobs we have, the better. It doesn’t matter if those jobs do something useful; we just assume that more jobs is better no matter what. We’ve created a whole class of flunkies that essentially exist to improve the lives of actual rich people. Rich people throw money at people who are paid to sit around, add to their glory, and learn to see the world from the perspective of the executive class.

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