Aug 272020
 
 August 27, 2020  Posted by at 1:16 pm Finance Tagged with: , , , , , , , , , , , ,  9 Responses »


Leon Levinstein Head of Man with Hat and Cigar c1960

 

 

A Pew Research Center poll that’s already a month old (and a lot happened since) concluded that violent crime is a major issue according to 59% of voters (almost as much as coronavirus): 74% of Republicans and 46% of Democrats. But during the DNC, held after the poll was already out, the issue wasn’t addressed at all. Democrats talked about police violence, but not riot violence.

At this week’s RNC, this situation is -of course- very different. The DNC pushes the GOP into the role of the party of law and order, and they’re all too willing to take up that role. But I was wondering about something else, or “bigger”, this morning. That is, Joe Biden et al are very light on policies, because in their view their most important issue is to get people to vote *against* Donald Trump, rather than *for* Biden.

And I’m thinking maybe that’s starting to boomerang, to blow up in their faces, whether perhaps people are beginning to lean towards NOT voting for Joe Biden, instead of NOT voting for Donald Trump, “at any cost”. In that context, it appears telling that according to a new Reuters/Ipsos poll, Biden saw no “convention poll bounce” in his numbers after the DNC, while ironically, Trump did.

Whereas according to a Zogby Analytics poll, Trump’s job approval numbers are now at record high levels. And I know polls -and pollsters- can be biased, and so can the press quoting them, but to see three in a row, Reuters/Ipsos, Rasmussen, Zogby, all reporting similar movement, may still be significant.

Trump Job Approval Rating Hits Record At 52%

Buoyed by blacks and independent voters, as well as urban dwellers shocked by the Black Lives Matter protest violence raging in some cities, President Trump’s approval rating has hit a new high, according to a survey heavy with minority voters. The latest Zogby Analytics poll just shared with Secrets had Trump’s approval at 52%. “The president has recorded his best job approval rating on record,” said pollster Jonathan Zogby.


What’s more, his approval rating among minorities was solid and, in the case of African Americans, shockingly high. Zogby said 36% of blacks approve of the president, as do 37% of Hispanics and 35% of Asians. Approval among independent voters is also up, to 44%. And “intriguingly,” said Zogby, 23% of Democrats approve of Trump.

It was the latest to show that Trump’s approval went up during the Democratic National Convention. Rasmussen Reports had it at 51% at the end of the convention. In a shock from past election years, Joe Biden got no convention poll bounce, according to a newly released Reuters/Ipsos poll. [..] Zogby, in his analysis, took a stab at the reasoning. First, he said, his and other polls are confirming that the nation is nearly evenly divided politically and that despite some showing a big Biden lead, the race is extremely close.


He suggested that the battle is for the “10%-20%” who haven’t made their minds up on whom to vote for and who likely won’t make up their minds until Election Day, just like in 2016. “We are as polarized a nation, on a level not seen since the Civil War,” said Zogby. He also said that the violence playing out in cities such as Kenosha, Wisconsin, and Portland, Oregon, are pushing urban voters to Trump.

A fresh Rasmussen poll about Biden’s lead in the polls (which reached double digits not long ago), indicates that there’s not much left of that lead. That, but the way, is similar to a CNN poll a number of weeks ago. Significantly, Rasmussen suggests that: Even if Biden’s now-slim lead in the polls were to remain frozen as of today, Trump would still have a clear path to an electoral college victory.

Biden’s Polling Lead Has Collapsed

Just a month and a half ago, Rasmussen Reports had Joe Biden 10-points ahead of President Donald Trump in the polls. Now he’s only ahead by one point, within the margin of error. Even if Biden’s now-slim lead in the polls were to remain frozen as of today, Trump would still have a clear path to an electoral college victory, as Hillary Clinton lead Trump in the popular vote by just over two points in the 2016 election. While it is impossible to know the exact reason (or reasons) for Biden’s polling collapse, it comes as the economy continues to rebound from the coronavirus, riots continue to ravage liberal run cities longer than anyone expected (to no condemnation from Joe Biden and Kamala Harris)..


[..] Rasmussen was among the closest mainstream pollster in approximating the popular vote in the 2016 election. Rasmussen had Hillary Clinton up 1.7 points over Trump on election day 2016, while she ended up winning the popular vote by 2.1 points above him (48.2% vs. 46.1%). The Real Clear Politics average of polls had Hillary up for six points. Unlike the other polls, Rasmussen correctly saw Trump had a path to victory in the electoral college.

Rasmussen

 

And of course Don Lemon warned yesterday on CNN that Biden has to start addressing the riots, because by remaining silent he’s letting Trump run away with the issue. But it’s not entirely clear how Biden would do that: the Democrats have supported BLM and protesters -as well as rioters- in general for most of the year, and now they would have to turn against them?

The sports boycotts that yesterday came seemingly out of nowhere all at the same time, look like they’re well intentioned but too late. There is too much news, and there are too many videos, out there to keep portraying what’s happening in the streets of Kenosha and Minneapolis and many other cities, as a one-sided problem. There is violence on both, or even many, sides.

Tonight, Thursday August 27, it’s Donald Trump’s turn to address the RNC, and the entire press, the entire nation, will pay attention. Nobody feels they can afford not to. Almost half the country will already have their minds made up about what a terrible person he is, while the other almost half will think he’s doing great. It’s the “10%-20%” who haven’t made their minds up that he must reach, and given how the country feels about violence in the streets, he may well succeed in reaching quite a few.

For which he can thank the DNC. “Orange Man Bad” may have once looked to be a winning strategy, but by now it feels mostly a limiting one.

 

 

 

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Aug 222020
 
 August 22, 2020  Posted by at 10:07 am Finance Tagged with: , , , , , , , , , , ,  19 Responses »


Steve Schapiro Robert Kennedy US Presidential Campaign 1968

 

Coronavirus Pandemic Could Be Over Within Two Years – WHO (BBC)
Dr. Birx: November In-Person Voting As Easy As Going To Starbucks (JTN)
Where’s Tulsi? (RT)
This Year’s DNC Was 2016’s DNC on Steroids (Savage)
The Truth About The Post Office Controversy (Patel)
Catapulting Russian-Meddling Propaganda (Ray McGovern )
Fighting Russia Has Become An Existential Necessity For NATO – Lavrov (RT)
AG Barr Throws Cold Water On Possible Edward Snowden Pardon (ZH)
What A Nation Cut Off From The Rest Of The World Looks Like (Saxo)
Alan Rusbridger: Assange Case Is Worrying For All Journalists (PG)

 

 

Passing 800,000 deaths globally is a sad milestone again, but US new cases had their best week since the end of June, so that’s a good thing.

 

 

 

 

 

 

 

 

 

 

Postmaster

 

 

Not sure every single person will see this as a reassuring message.

Amazing how little the man has to say who pretends to aid the entire world. When PPE corruption is one of your main talking points…

Coronavirus Pandemic Could Be Over Within Two Years – WHO (BBC)

The head of the World Health Organization (WHO) says he hopes the coronavirus pandemic will be over in under two years. Speaking in Geneva on Friday, Tedros Adhanom Ghebreyesus said the Spanish flu of 1918 took two years to overcome. But he added that current advances in technology could enable the world to halt the virus “in a shorter time”. “Of course with more connectiveness, the virus has a better chance of spreading,” he said. “But at the same time, we have also the technology to stop it, and the knowledge to stop it,” he noted, stressing the importance of “national unity, global solidarity”.


The deadly flu of 1918 killed at least 50 million people. The coronavirus has so far killed almost 800,000 people and infected 22.7 million more. Dr Tedros also responded to a question about corruption relating to personal protective equipment (PPE) during the pandemic, which he described as “criminal”. “Any type of corruption is unacceptable,” he answered. “However, corruption related to PPE… for me it’s actually murder. Because if health workers work without PPE, we’re risking their lives. And that also risks the lives of the people they serve.”

Read more …

Well she actually said “If you go into Starbucks in the middle of Texas and Alabama and Mississippi that have very high case rates..” But then, in states with lower case rates it should be even safer…

Dr. Birx: November In-Person Voting As Easy As Going To Starbucks (JTN)

The doctor coordinating the White House Coronavirus Task Force says she believes it will be safe for voters to go to the polls in November. “Well, I can tell you it has been safe for me to go to Starbucks and pick up my order,” Dr. Deborah Birx told Just The News in an interview when asked about in-person voting. Birx has been traveling the country by car and one of her practices is to visit as many Starbucks as she can in an attempt to gauge whether people are wearing masks and socially distancing. She said her coffee experiences in states that have higher than normal COVID-19 cases, has led her to a conclusion about voting. “If you go into Starbucks in the middle of Texas and Alabama and Mississippi that have very high case rates, then I can’t say that it would be different waiting in line in the polls,” Birx said.

Of course, she cautions that masks must be worn and social distancing must be adhered to. “I know there’s a way but you really do have to pay attention,” she added. Birx spoke Friday afternoon at the White House on a myriad of topics. While much of the discussion centered on vaccines and a potential timetable for a return to normal, she also revealed something personal: she’s been a victim of harassment and threats via technology. “I do get death threats, and I get text messages that are horrific,” she said. “I get stuff sent to my home where my daughters are that is shocking and their phones get shocking messages. All of that has been happening since March.”

In a way, Birx has a thankless job as she tries to navigate not just the reality of a deadly virus but the political realities as well. Most of the criticism has come from liberal Democrats who have criticized her for not doing enough to set the record straight on some of the president’s medical claims. Birx, who has served in both Republican and Democratic administrations for decades, said she will soldier on. “You just have to stay true to your own personal values,” she said. “I’ve never been asked to cross that line. I believe when people look back that they’ll find out that I personally never crossed that line.”

Read more …

The Tulsi treatment is the state of the DNC in a nutshell. Cancel culture at its finest, advertized as unity. And Bernie, AOC, Tulsi swallow it all.

Where’s Tulsi? (RT)

This week’s Democratic virtual gathering to nominate the Joe Biden/Kamala Harris ticket for the November election was a triumph of party centrism over the progressive wing. Representative Alexandria Ocasio-Cortez was given a whopping 90 seconds to nominate Bernie Sanders in a technical procedure, and no members of her ‘squad’ were given the stage. Instead, a parade of speakers from both parties told Americans that replacing Donald Trump with Biden was the single most important task at hand. One other party outsider was noticeably absent at the convention. Tulsi Gabbard, the representative for Hawaii, was snubbed despite remaining in the primary race right until Biden’s imminent victory and winning two delegates.

In those metrics, she performed better than VP nominee Harris herself. Yet Gabbard “was not invited to participate in any way”, she confirmed on Twitter. Frankly speaking, she would have been welcomed at the convention about as gladly as evil witch Maleficent at the birthday party of Sleeping Beauty. Once considered a rising political star and given the same duty to nominate Sanders in 2016 as AOC this year, Gabbard has become a pariah in her own party over the past two years. Apparently, the Democratic leadership would rather give a platform to someone who helped lie the country into the 2003 Iraq invasion than to a woman who calls for an end to forever wars, some commenters noted. During the campaign, Gabbard stepped on quite a few toes. Going after Harris’s prosecutorial record was arguably the moment the California senator’s bid for presidency went sideways.

Guest of honor Pete Buttigieg, described by Biden as the future of the party, would probably not appreciate her either. After all, after he brought up her infamous trip to Syria during a debate, Gabbard gave him a lecture on the importance of talking to your adversaries. [..] The redbait smearing of Gabbard began early in her campaign. In February 2019, NBC declared her a “Russian favorite” based on the opinion of New Knowledge, the shady firm best known for fabricating a ‘Russian influence campaign’ during the 2017 Senate special election in Alabama. In October, the same attack was launched from the very top of the party establishment, as Hillary Clinton claimed the Kremlin was “grooming” Gabbard to run as a third-party candidate.

Read more …

“As the country’s social fabric is torn apart by evictions, record unemployment, and mass death, they decided to hold a virtual prayer circle for Republican senator John McCain.”

This Year’s DNC Was 2016’s DNC on Steroids (Savage)

Save a few protests from frustrated Sanders delegates, the convention was a pristine spectacle of celebrity-driven, limousine liberalism at its most cartoonish and out of touch. No one expected a politician like Clinton to remake herself as a populist figure. But the four-day elite love-in — hosted, no less, at a convention center bearing the name of one of the world’s biggest banks — was so dripping with Ivy League pretension and Hollywood glam that it looked more like an awards show than a democratic appeal to the citizens of a republic. November was still three, potentially perilous months away, and — despite a year of unexpected populist insurgencies from both the Left and right — Democrats were already measuring the drapes for an indefinite future residency in the White House.

When November finally did come, their complacency would be punished with the single greatest political upset in modern history. In more ways than one, this year’s DNC evoked an ominous feeling of deja vu. True enough, the context is very different. This time, Donald Trump is the incumbent president and America is in the throes of the worst economic crisis since the Great Depression. Contra Clinton, the party’s nominee was merely the final centrist standing among what was this time a vast field of candidates rallying to neutralize Sanders — and, unlike its last standard-bearer, he was more the establishment’s measure of last resort than its first choice.

Notwithstanding these differences, the parallels between this week’s convention and the gilded spectacular of 2016 are difficult to overlook. Yet again, Democrats are headed into a consequential election with a Wall Street–friendly ticket raking in millions from financial concerns and doing its utmost to signal it has minimal interest in honoring key campaign pledges.

As in 2016, party leaders feel they can openly flaunt their contempt for a progressive left that has nowhere else to go while putting their chips on anti-Trump Republicans and conservative suburbanites (to that end, John Kasich and Colin Powell were featured prominently on the schedule while the Democrats’ brightest star got just over one minute).

With the state of the country inarguably worse than it was in 2016, this formula somehow looks even more out of touch than it did four years ago. During a moment of national reckoning with racism and police violence following the brutal murder of George Floyd, Democrats opted to give the architect of stop-and-frisk a prime-time speaking slot. As the country’s social fabric is torn apart by evictions, record unemployment, and mass death, they decided to hold a virtual prayer circle for Republican senator John McCain. Despite giving a speech that exceeded most expectations, their tribune is a candidate whose ability to win is privately doubted even by the people who proved most critical to his nomination.

Read more …

“With universal mail-in voting, the government would mail ballots to everyone, regardless of whether they request them.”

The Truth About The Post Office Controversy (Patel)

Do we really have to worry about the Postal Service? That’s the latest faux controversy to dominate our political debate. It’s a sign of our times that even the mail system isn’t without controversy. As usual, there’s plenty of blame to go around on how we got into this mess. In the midst of the COVID-19 pandemic, it’s reasonable to presume we need more absentee voting. Packing voters into overcrowded indoor polling places with long lines is not a good idea. Our government and politicians of all stripes have a duty to promote free and fair elections whether in person or absentee. That shouldn’t be a controversial idea. At the same time, there are legitimate concerns about universal mail-in voting.

Absentee voting is different. With absentee voting, a specific voter requests his or her specific ballot to vote by mail. That system has been used for years and — especially in the states doing it best — it works pretty well. Universal mail-in voting is different. With universal mail-in voting, the government would mail ballots to everyone, regardless of whether they request them. Some places even allow for “ballot harvesting,” where a third party can collect ballots for many people and file them in bulk. This system has not traditionally been used widely, and it raises legitimate concerns over voter fraud. A 2018 North Carolina congressional election was in fact overturned after a state probe found that a Republican operative illegally collected ballots with forged signatures and filled in votes.

The Postal Service controversy falls in the midst of the very legitimate debate. We should all be able to agree that to the extent mail-in voting is used — the absentee variety would be my preference — the Postal Service has to be able to handle its role to ensure a fair election in a reasonable time frame. The Postal Service — which is supposed to operate independently based on funding from the postal fees it charges — has been losing money for years. Due to email and other forms of communication, we send about 30% fewer letters each year than we did just a decade ago. To combat this, the Postal Service has been reducing its operating costs. That all makes sense. Now comes the controversy part. There are three drivers contributing to it. Two are self-inflected by the Republicans, and one — likely the biggest — is being driven pretty disingenuously by the Democrats.

First, it would have made sense to pause some Postal Service operating cuts as it became more and more clear after COVID-19 that we were going to rely more on the mail this election cycle than in any other. Taking mail sorting machines out of service and cutting back on mailboxes that are less used may not be the best moves when you know the mail will be crucial for a national election. A pause in operating cuts makes sense in case the equipment is needed for real, substantive reasons — to ensure a fair and timely election — and also to induce confidence among the American people that our sacred right to vote will not be abridged due to the pandemic. This is exactly the justification the Postal Service provided this week when they finally announced such a pause. It was, of course, too late to stem the controversy.

Second, as is the case with so many controversies of this era, President Donald Trump did not do himself any favors with his comments on the matter. Trump said he opposed more money for the Postal Service because without that money, “You can’t have universal mail-in voting, because they’re not equipped to have it.” The president is not wrong to question universal mail-in voting, but his statement that he was going to unilaterally in effect stop it through a holdup of postal funds only added fire to Democrats’ claims that he was against taking steps to have a fair election during the pandemic.

Read more …

Read of the day. Excellent. Where it all comes together.

Catapulting Russian-Meddling Propaganda (Ray McGovern )

The Best Defense… is a good offense, and the Senate Intelligence Committee’s release of its study — call it “Mueller (Enhanced)” — and the propaganda fanfare — come at a key point in the Russiagate/Spygate imbroglio. It also came, curiously, as the Democratic Convention was beginning, as if the Republican-controlled Senate was sending Trump a message. One chief worry, of course, derives from the uncertainty as to whether John Durham, the US Attorney investigating those FBI and other officials who launched the Trump-Russia investigation will let some heavy shoes drop before the election. Barr has said he expects “developments in Durham’s investigation hopefully before the end of the summer.”

FBI attorney Kevin Clinesmith already has decided to plead guilty to the felony of falsifying evidence used to support a warrant from the Foreign Intelligence Surveillance Court to surveillance to spy on Trump associate Carter Page. It is abundantly clear that Clinesmith was just a small cog in the deep-state machine in action against candidate and then President Trump. And those running the machine are well known. The president has named names, and Barr has made no bones about his disdain for what he calls spying on the president. The cognoscenti and the big fish themselves may be guessing that Trump/Barr/Durham will not throw out heavier lines for former FBI Director James Comey, his deputy Andrew McCabe, CIA Director John Brennan, and Director of National Intelligence James Clapper, for example.

But how can they be sure? What has become clear is that the certainty they all shared that Hillary Clinton would be the next president prompted them not only to take serious liberties with the Constitution and the law, but also to do so without taking rudimentary steps to hide their tracks. The incriminating evidence is there. And as Trump becomes more and more vulnerable and defensive about his ineptness — particularly with regard to Covid-19 — he may summon the courage to order Barr and Durham to hook the big fish, not just minnows like Clinesmith. The neuralgic reality is that no one knows at this point how far Trump will go. To say that this kind of uncertainty is unsettling to all concerned is to say the obvious.

So, the stakes are high — for the Democrats, as well — and, not least, the LSM. In these circumstances it would seem imperative not just to circle the wagons but to mount the best offense/defense possible, despite the fact that virtually all the ammunition (as in the Senate report) is familiar and stale (“enhanced” or not). Black eyes might well be in store for the very top former law enforcement and intelligence officials, the Democrats, and the LSM — and in the key pre-election period. So, the calculation: launch “Mueller Report (Enhanced)” and catapult the truth now with propaganda, before it is too late.

Read more …

NATO is not capable of fighting Russia. But it can wage a one-sided domestic disinformation war.

Fighting Russia Has Become An Existential Necessity For NATO – Lavrov (RT)

Confrontation with Russia has become the sole reason for NATO’s existence, and this encourages instability in Europe, creating artificial dividing lines on the continent. That’s according to Russian foreign minister Sergey Lavrov. The veteran diplomat told the Moscow daily Trud that everyone knows there are no real threats to security in Europe but that NATO needs to invent them in order to keep itself relevant. Lavrov also drew attention to the fact that Russia has repeatedly proposed measures to reduce tensions and reduce the risk of incidents on the continent. “Now, just like during the Cold War, fighting Russia on all fronts, including information and propaganda, has become the alliance’s reason for existence,” he explained.

“NATO has deployed extensive resources on the eastern flank, near our borders, including conducting exercises and improving military infrastructure.” “The alliance continues to expand its area of military and political influence, inviting all new countries under its ‘umbrella’ under the pretext of protecting them from Russia,” he added. Lavrov further explained that the alliance adheres to the line of “containment and dialogue” in relations with Russia, although “as a result, there is practically no place for a real and open dialogue on pressing problems.” In the same interview, the foreign minister accused Ukrainian authorities of not hiding their desire to use the conflict in the Donbass to preserve European Union sanctions pressure on Russia, by not fulfilling their obligations under the Minsk Agreements.

According to him, Kiev takes advantage of the fact that the EU continues to link the issue of improving relations between the bloc and Russia with the implementation of the Minsk agreements, to which Russia is not a party. “Alas, this artificial and short-sighted link persists to this day – to the great satisfaction of the Kiev authorities, which not only do not fulfill their obligations under the Minsk Package of Measures, but also make no secret of their desire to use the unresolved conflict to maintain sanctions pressure against Russia,” Lavrov said.

Read more …

If Barr continues to fiddle on the Durham report, Trump may do it anyway.

AG Barr Throws Cold Water On Possible Edward Snowden Pardon (ZH)

Once again President Trump’s anti-establishment and ‘anti-deep state’ instincts look like they’ll be promptly reigned in by those around him. He shocked leaders in Congress and within his own administration when one week ago he mused openly in a New York Post interview that maybe Edward Snowden should be pardoned. In follow-up he said at a press briefing last Saturday “There are many, many people – it seems to be a split decision that many people think that he should be somehow treated differently, and other people think he did very bad things.” And further that: “I’m going to take a very good look at it.” The president raised eyebrows and anxiety across the D.C. beltway with his unprecedented remarks.

“There are a lot of people that think that he is not being treated fairly. I mean, I hear that,” he had initially told NY Post, before adding: “Many people are on his side, I will say that. I don’t know him, never met him. But many people are on his side.” This immediately raised hopes among those that hail the NSA leaker as a whistleblower who exposed deeply unconstitutional surveillance of the domestic populace that he might one day soon see freedom. But now Attorney General William Barr is throwing cold water on such a bold prospect, saying to the Associated Press on Friday that he’d be “vehemently opposed” to any initiative to pardon Snowden, who remains on the run from US authorities – but given asylum in Russia.

If he were to return to the United States he would face severe charges related to the Espionage Act and spilling of state secrets, which would certainly bring life imprisonment. “He was a traitor and the information he provided our adversaries greatly hurt the safety of the American people,” Barr said in the new comments. Interestingly, Trump’s own view as expressed years ago was that Snowden was a “traitor”. Barr’s latest comments frame Snowden’s actions as motivated by money and fame, and not of out of a sense of patriotism or concern for upholding the Constitution: “He was peddling it around like a commercial merchant. We can’t tolerate that,” Barr added firmly. Recall that last year the DOJ under Barr fought to ensure that Snowden wouldn’t see any money generated from US sales of his tell-all book Permanent Record.

Read more …

Japan has been quiet, it’s true.

What A Nation Cut Off From The Rest Of The World Looks Like (Saxo)

Earlier this morning, there has been a couple of Japanese data releases. Japanese consumer price inflation was unexciting with a rate at 0% YoY. While we see some relative price changes in many countries, the basic story for the moment is that inflation will remain low in most countries. In addition, Japan National Tourism Organization has published its latest data regarding the flow of foreign visitors in July. Basically, it shows what a nation cut off from the rest of the world looks like. The flow of foreign visitors in Japan published by Japan National Tourism Organization is out this morning. The country was supposed to welcome an unprecedented number of Olympic fans from all around the world just about now, but the pandemic has turned everything upside down.

Arrivals of foreign visitors plunge 99% YoY in July, at 3,800 individuals (slightly up compared to the previous month, when it stood at 2,600 individuals). For the sake of comparison, at the beginning of the year, the country recorded more than 2.6 million foreign visitors in a month’s time. Whilst the country expected to draw around 40 million visitors this year, the final number for 2020 might fall to 7-8 million at best, which would represent a drop of 80% compared to the target. Over the past years, the contribution of travel and tourism to GDP has significantly increased, to reach 7% in 2019, on the back of government’s incentives to promote foreign tourism via marketing push overseas and eased visa requirements.


The COVID-19 constitutes a serious setback for the government’s hopes for tourism and it is unlikely that the recent campaign to spur domestic tourism launched on July 22 will offset losses generated by the drop in the flow of foreign visitors. Considering the number of new COVID-19 cases has sharply increased since mid-July and that many countries at global level are facing the acute risk of second wave, the country is not expected to reopen to foreigners anytime soon and will probably postpone initial plans to let foreign students and businessmen return.

Read more …

Well, speak out then. A lot louder than this.

Alan Rusbridger: Assange Case Is Worrying For All Journalists (PG)

Former Guardian editor Alan Rusbridger has said the ongoing US extradition case against Wikileaks founder Julian Assange is “disturbing” and “has worrying implications for all journalists”. And he has said it is “surprising” that more don’t share his concerns. While Assange has garnered support from a range of campaigning groups for his plight, the response from journalists and the news industry in the UK has been relatively muted. Rusbridger was editor of the Guardian for 20 years, leaving in 2015. Under his editorship the paper worked with Wikileaks on the 2010 Iraq and Afghanistan war logs and, a few years later, the Snowden Files. [..] Any charges against Assange relating to journalistic activity, such as the publishing of material in the public interest, “should be dropped”, Rusbridger told Press Gazette.

[..] Rusbridger said that while Assange had done things he can’t defend, and which “stray beyond the conventional definition of journalism”, the Australian is not “all good or all bad”. “When you stand back and say, well, whatever we think of Assange, what he is being targeted for is the same or similar as many journalists have done, then it’s surprising to me that more people can’t see that this case has worrying implications for all journalists” Rusbridger said the precedent set by the UK of allowing someone to be extradited for prosecution under another country’s official secrets laws could ultimately be used by regimes to target British journalists who report on sensitive information about foreign powers. “It’s quite a disturbing thing that we should send somebody to another country for supposedly breaking their laws on secrecy. If journalists are not concerned by that, then I think they should be,” he said.

“The danger here is that if everyone sort of shrugs and leaves Assange to his fate and this sets some kind of judicial precedent, then the next time… a journalist on the Sunday Times writes about a secret Israeli weapons system, as has happened in the past, the Israelis say ‘well actually that breaches our Official Secrets Act, under the Assange precedent we now ask for this person to be returned to our country so we can prosecute them’. “You could see how what seems like a sort of tangential case involving somebody that I know lots of journalists don’t really regard as a proper journalist suddenly becomes something that has set a very alarming precedent.”

On the question of whether Assange is a journalist, Rusbridger said he was “one of these complicated figures that we’ve never had to deal with before the 21st Century” and had “many identities”. He said Assange clearly did “some things that are journalistic”, pointing in particular to the Collateral Murder video that showed a US air attack in Iraq that killed a dozen people, including two Reuters media workers. “Any newspaper would have been thrilled to run that story,” said Rusbridger. “It was a really, truly shocking story in the public interest. “So that was clearly journalism, but [Assange is] also an activist, he’s a publisher, he’s a kind of impresario, he is a whistleblower, he’s a kind of information anarchist, and so that that makes him very difficult to categorise or to work out what our attitude to him is.

Read more …

 

 

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Aug 182020
 


Bettmann/Getty Minimum Wage 1963

 

Coronavirus Clusters Erupt At US Universities As Semester Begins (AP)
Sixty Seconds to Self-Sabotage (Cut)
They’re Angry, Not Stupid: Why Trump is Likely to Win Again (Greene)
Sanders: ‘The Future Of Our Planet Is At Stake’ In 2020 Election (JTN)
Democrats Seem All Too Willing to Surrender on Health Care Reform (Jac.)
Michelle Obama Speech Recorded Before Joe Biden Selected Kamala Harris (NYP)
Trump vs. Dems On Mail-in Voting (Chaffetz)
Trump Teases Upcoming Pardon For ‘Very Important’ Person (RT)
China’s Anti-Trump Election Meddling Raises New Alarm (Fox)
Kamala Harris Reportedly Owes $1M In Bills From Failed Presidential Run (NYP)
Twelve US Billionaires Have a Combined $1 Trillion (Ineq.org)
US States Seek $2.2 Trillion From OxyContin Maker Purdue Pharma (R.)
The Need for Debt-for-Climate Swaps (PS)
The Mathematical Model of Modern Monetary Theory (Steve Keen)
And in the End (Rolling Stone)

 

 

No, I didn’t watch the Dem convention. Never perform invasive surgery on myself either, for pretty much the same reason. But I did pick up a few tidbits. It all leaves a very elitist impression. Deplorables.

 

 

New global cases below 200,000, new deaths at 4,297. Not bad. Or is that just because it was Monday?

Several European countries are spiking in what is perhaps a second wave. Pretty lousy controls, which will lead to all kinds of renewed lockdowns. Unnecessary.

 

 

New cases only just above 40,000 in the US, it was 70,000 not long ago, with new deaths at “only” 589.

 

 

 

 

 

 

 

 

This sounds just plain dumb.

Coronavirus Clusters Erupt At US Universities As Semester Begins (AP)

From the dorms at North Carolina to the halls of Notre Dame, officials at universities around the US scrambled on Monday to deal with new Covid-19 clusters at the start of the fall semester, some of them linked to off-campus parties and packed clubs. North Carolina’s flagship university cancelled in-person classes for undergraduates just a week into the fall semester Monday. The University of North Carolina at Chapel Hill said it will switch to remote learning on Wednesday and make arrangements for students who want to leave campus housing. “We have emphasised that if we were faced with the need to change plans – take an off-ramp – we would not hesitate to do so, but we have not taken this decision lightly,” it said in a statement after reporting 130 confirmed infections among students and five among employees over the past week.


UNC said the clusters were discovered in dorms, a fraternity house and other student housing. Before the decision came down, the student newspaper, The Daily Tar Heel, ran an editorial headlined “UNC has a clusterf*** on its hands”. The paper said that the parties that took place over the weekend were no surprise and that administrators should have begun the semester with online-only instruction at the university, which has 19,000 undergraduates. “We all saw this coming,” the editorial said. Outbreaks earlier this summer at fraternities in Washington state, California and Mississippi provided a glimpse of the challenges school officials face in keeping the virus from spreading on campuses where young people eat, live, study – and party – in close quarters.

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The DNC pushed Bernie aside until he complied with the Biden “plan”. They do the same with AOC et al, without whom they may never have had control of the House. Instead, they have Republicans and billionaires speaking, along with has-beens like the Obamas and Clintons….

Sixty Seconds to Self-Sabotage (Cut)

When the Democratic National Committee released its schedule for its big socially distanced convention this week, we learned that New York Rep. Alexandria Ocasio-Cortez, inarguably among the party’s most dynamic figures, would have just sixty seconds to address the nation. [..] the relegation of Ocasio-Cortez, who electrifies multiple parts of a Democratic base, to one meager minute, a segment that—unlike speeches by some other presenters—will be pre-recorded, isn’t just a snub. The failure of a major political party to showcase one of its most talented politicians, a young person whose communicative reach and facility positions her to be among its leaders deep into our future, is self-sabotage.

[..] Why will this convention not show off more of the historic number of women who enabled their party to retake the House in 2018? Most of them won’t be prominently featured, but former Ohio Republican governor John Kasich, who ran for governor as a Tea Partier and signed eleven laws (comprising 21 restrictions) on abortion, including a 20 week ban and the prohibition of rape crisis centers advising survivors about the option of abortion, will be. He also worked to rob Ohio’s public workers of the right to bargain collectively (voters later overturned this measure). Not only is Kasich getting a plum spot on Monday, he’s used his time in the Democratic sun to diss Ocasio-Cortez, telling Buzzfeed that just because she “gets outsized publicity doesn’t mean she represents the Democratic Party. She’s just a part, just some member of it.”

So John Kasich, Republican, feels that Ocasio-Cortez, Democrat, gets outsized attention, even as he–along with his fellow Republicans Susan Molinari (Remember her? No? Weird) and former Hewlett-Packard and eBay CEO Meg Whitman–will get more featured airtime than she at her party’s convention. But this convention seems driven to thumb its nose not only at individual politicians, but at the social movements that have transformed civic participation and changed public opinion across the nation during the course of the Trump administration. Remember those women who retook the House in 2018? A bunch of them were first time candidates who were open about how their entrance into politics was grounded in their fury about the ubiquity and pervasiveness of sexual harassment and assault in the wake of Donald Trump’s election and the #metoo movement.

But the party that profited from their electoral success has offered prime speaking spots to two multiply-accused harassers: former president Bill Clinton and former New York mayor Michael Bloomberg. That Bloomberg’s presidential campaign met its lethal end at the hands of Massachusetts senator Elizabeth Warren, who in a February primary debate detailed his history of workplace harassment, red lining, and support of stop-and-frisk policing, all in her allotted sixty seconds (she only had a minute; an eternity was in it) makes his featured presence an insult to Warren, and the many Democrats who were far more inspired by her campaign than by his. And listen, I get it, and assume everyone else does too: Bloomberg is speaking to the Democratic convention because the Democrats need his money (he shifted $18 million from his campaign to the Democratic National Committee in March).

But if organizers had been paying attention these past two years, they might have learned that that’s actually part of the structural thing about harassment and those who get away with it: too often, you need their money.


Matt Taibbi’s drinking game bingo card for the DNC

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…and that attitude of trampling over the left leads to this… If you think BLM, Antifa, #MeToo are the only angry ones, you are mistaken.

They’re Angry, Not Stupid: Why Trump is Likely to Win Again (Greene)

The candidate Barack Obama spoke to blue-collar America. He campaigned on change that would rejuvenate careers and restore dignity. Working Americans in the swing states doubted that Hillary Clinton even knew they existed. They saw Obama as a last hope and supported him enthusiastically in the 2008 primaries and later in the general election, but he soon proved to be a disappointment. He, too, fell in love with Silicon Valley and Wall Street and neglected the people who needed him most. And they punished him: he won fewer states in 2012 than he had in 2008. People like the alternate me felt cheated by a guy who rocked a Brooks Brothers suit and talked a great game, then gave the Tech and Finance sectors everything they wanted and more.

Educated people from the best schools trusted Big Tech outfits because educated people from the best schools ran them. Elites imagine each other to be virtuous because they imagine themselves that way. Technology giants were understood not as hardy sprouts but would be treated instead with princess-and-the-pea levels of delicacy, thanks to a superstitious fear that it might all be brought to grief by, say, forcing companies with hundreds of billions in share value to tolerate an employees’ union, offer a minimum wage adequate for a decent life, or pay tax proportional to their reliance on public goods.

No one bears greater responsibility for the lack of empathy toward Old-Economy workers that led to Donald Trump’s victory than big-name Tech darlings and the New Democrats who coddled them, then openly ridiculed their own voter base: the people Hillary foolishly nicknamed “Deplorables;” that is, the millions of disappointed Obama voters who would happily have voted blue if they’d had confidence that the party would respect them, welcome them, and acknowledge their needs. But the New Economy is a gated community, shut firmly to them, whose most strenuous boosters have been the Clinton, Bush, and Obama Administrations. Old-school, working-class Democrats are unwelcome in the party they built. No one wants them tracking mud through the salon.

Donald Trump defeated Hillary Clinton in the swing states the same way Barack Obama had: by characterizing her as disdainful toward blue-collar Americans. It was a potent message among those who once had seen decent wages in return for honest work, lately reduced to Walmart greeters and Uber drivers. Humiliated by a labor market in which they had nothing to trade, the former working class understood that they also had nothing to lose. Liberal democracy and its supporting institutions shed their veneer of sanctity when dead-end employees can aspire only to dead-end management gigs. Call them “associates” and “technicians” all you want; they know who they’ve become and what others think of them. They are why Trump won in the swing states; he was propelled to victory by disillusioned Obama voters.

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I would have expected so much more from Bernie. Folds for the DNC twice in a row, and doesn’t volunteer to return any donations.

Can someone check how many times he said the same in 2016?! “Sanders called the 2020 election the most important in the modern history of the U.S.”

Sanders: ‘The Future Of Our Planet Is At Stake’ In 2020 Election (JTN)

Former 2020 Democratic presidential candidate Sen. Bernie Sanders urged his supporters Monday to vote for nominee Joe Biden, imploring that the “future of our planet is at stake” and that the “price of failure” for not electing Biden would be “just too great to imagine.” “The future of our democracy is at stake. The future of our economy is at stake. The future of our planet is at stake,” Sanders said on opening night of the Democratic National Convention. “We must come together, defeat Donald Trump and elect Joe Biden and Kamala Harris as our next president and vice president. My friends, the price of failure is just too great to imagine.” Sanders called the 2020 election the most important in the modern history of the U.S.

“We need an unprecedented response, a movement, like never before of people who are prepared to stand up and fight for democracy and decency,” said Sanders, a democratic-socialist who finished second in the 2016 and 2020 Democratic presidential primaries. “Our campaign ended several months ago but our movement continues and is getting stronger every day. Many of the ideas we fought for, that just a few years ago were considered radical are now mainstream but let us be clear, if Donald Trump is re-elected, all the progress we have made will be in jeopardy,” he also [said].

Sanders named areas where Biden has moved the progressive agenda forward, such as raising the minimum wage to $15 an hour, making it easier for workers to join unions,” creating 12 weeks of paid family leave and funding universal pre-K for 3 and 4-year olds. “Joe will rebuild our crumbling infrastructure and fight the threat of climate change by transitioning us to 100 percent clean electricity over the next 15 years. These initiatives will create millions of good paying jobs all across the country,” Sanders said. “We are the only industrialized nation not to guarantee health care for all people. While Joe and I disagree on the best path to get to universal coverage, he has a plan that will greatly expand health care and cut the cost of prescription drugs. Further, he will lower the eligibility age of Medicare from 65 to 60,” added Sanders, who worked with Biden on his final campaign platform.

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Bernie campaigner David Sirota has at least a little backbone.

Democrats Seem All Too Willing to Surrender on Health Care Reform (Jac.)

On the eve of a Democratic National Convention taking place as millions lose health care coverage, the health care industry is launching a new ad campaign pressing Democrats to back off from the party’s already compromised health care promises. That pressure seems to be having its intended effect on Capitol Hill, as congressional aides say the party will not push the initiative if Joe Biden wins the presidency. The signs of retreat come as health care industry profits are skyrocketing and the industry’s campaign cash has flooded into Democratic coffers. The Partnership for America’s Health Care Future (PAHCF) — a front group created by health insurance, pharmaceutical, and hospital lobbying groups to oppose “Medicare for All” — announced on Friday that it is launching a new national ad campaign to persuade Democrats to abandon their plans to create a public health insurance plan.

The group said it will run ads during the Democratic National Convention (DNC) this week. PAHCF is led by a former Hillary Clinton aide and run out of the offices of a DC lobbying firm led by former top Democratic congressional aides. A substantial “public option” plan — which polls show is wildly popular — was the centerpiece of recent policy negotiations between supporters of former vice president Joe Biden and progressive Vermont senator Bernie Sanders, who had been pushing for a more expansive Medicare for All program. A draft of the party platform, approved by DNC members late last month, includes a pledge to pass a public option, or a government-run health insurance plan that would compete with private insurers.

Within twenty-four hours of the launch of the industry’s new ads, however, anonymous Democratic congressional sources were telling the Hill that Democrats likely won’t bother with the public option fight next year if Biden wins the election. Instead, they said, the party will work to tweak its 2010 health care law, the Affordable Care Act (ACA), which has done little to limit insurance or hospital costs and has failed to ensure universal coverage. To justify the preemptive retreat, Democratic congressional aides told the newspaper that the party’s moderate crop of 2020 Senate challenger candidates could make it harder to pass a public option. That assertion comes even though every single one of those candidates is currently campaigning in support of a public option, according to a TMI review of campaign statements.

The situation echoes the Democratic promises and subsequent surrender on a public option that marked the debate over health care more than a decade ago — only this time around, the health care crisis is an even more acute emergency. While most developed countries have managed to contain COVID-19, the pandemic is spiraling out of control in the United States, and an estimated 27 million people have lost their employer-based health insurance plans, according to the Kaiser Family Foundation.

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And also recorded before Trump lost his brother?! Or wouldn’t she have cared? She did remember last night that she said it, right? Class? Grace? Where? We go low?

.. by contrast, “Joe knows the anguish of sitting at a table with an empty chair …

Michelle Obama Speech Recorded Before Joe Biden Selected Kamala Harris (NYP)

There was one glaring omission from Michelle Obama’s 20-minute Democratic National Convention speech Monday night — Kamala Harris. That’s because the former first lady recorded her rousing speech before Joe Biden selected Sen. Harris of California as his running mate. The speech was delivered remotely like all others at the DNC because of the coronavirus pandemic, and The Associated Press reports it was filmed before Harris was named last week as Biden’s VP candidate, indicating the choice was so close to the vest and down to the wire that even the Obamas were not in the loop. In her speech, Michelle Obama eloquently praised Biden and emotionally denounced Trump’s policies.

“Donald Trump is the wrong president for our country. He has had more than enough time to prove that he can do the job, but he is clearly in over his head. He cannot meet this moment. He simply cannot be who we need him to be for us,” she said. “It is what it is,” Obama added, quoting Trump’s recent remark on coronavirus deaths. “Right now, kids in this country are seeing what happens when we stop requiring empathy of one another,” Obama said. “They watch in horror as children are torn from their families and thrown into cages, and pepper spray and rubber bullets are used on peaceful protesters for a photo-op.”

She said that by contrast, “Joe knows the anguish of sitting at a table with an empty chair, which is why he gives his time so freely to grieving parents. Joe knows what it’s like to struggle, which is why he gives his personal phone number to kids overcoming a stutter of their own. His life is a testament to getting back up, and he is going to channel that same grit and passion to pick us all up, to help us heal and guide us forward.”

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The issue is not nearly as simple as some people would let you believe.

Trump vs. Dems On Mail-in Voting (Chaffetz)

With less than three months until the 2020 election and no end in sight for the coronavirus pandemic, a new debate over mail-in voting has begun. Swirling and sudden concerns about the United States Postal Service (USPS) have arisen from Democrats who are wildly accusing President Trump of cheating and manipulating the Postal Service in his favor. Conveniently they forget to mention the president is more than an arms-length away from how we vote, and the Postal Service is not under the thumb of his control. Senate Democrats joined Republicans to unanimously install postal leadership — of which, one is an Obama appointee.

No doubt President Trump has expressed deep concerns about the validity of the ballots, and rightfully so. Sending out millions of ballots without authenticating the inbound ballots is ripe for massive fraud. Democrats have desperately been seeking to legalize “ballot harvesting” (the collection and submission of ballots by someone other than the voter and without authentication) and other nefarious activities. It must be noted elections in the United States are administered by counties and certified by states. In other words, per the United States Constitution, elections are run locally and not by the executive branch of the federal government. The president has simply sought fair elections.

Ironically, it is House Speaker Nancy Pelosi’s H.R. 1 that seeks to federalize elections and give the president power he doesn’t currently have now. Her solution would create the problem she inaccurately blames Trump for today. [..] The president of the United States does not control the operations of the Postal Service nor does he select or appoint the Postmaster General. The Board of Governors does both of these things. The Postal Regulatory Commission sets rates, service levels and decides on postal closings, not the president. The governors are appointed by a president and confirmed by the United States Senate. No more than five of the nine governors may be from the same political party.

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Clickbait fodder.

Trump Teases Upcoming Pardon For ‘Very Important’ Person (RT)

US President Donald Trump said he would soon hand out a pardon to a “very important” person. While the details were left shrouded in mystery, he ruled out both his former advisor Michael Flynn and NSA whistleblower Edward Snowden. “Doing a pardon tomorrow on someone who is very, very important,” Trump told reporters on board Air Force One on Monday, offering little elaboration other than to say it would not be Flynn – his first National Security Advisor – nor the famed whistleblower. Despite repeatedly calling Snowden a “traitor” over the years, Trump has hinted at giving the whistleblower a reprieve on more than one occasion in the last week, saying he may have been treated “unfairly” and that he would “look at” allowing him to return home.


With the president explicitly ruling him out for Tuesday’s pardon, however, it appears Snowden will have to remain in Moscow for some time longer, where he was given asylum after leaking a massive cache of purloined documents from the National Security Agency in 2013, revealing Washington’s sweeping domestic and global spying apparatus.

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They’re starting a new competition.

China’s Anti-Trump Election Meddling Raises New Alarm (Fox)

Director of National Intelligence John Ratcliffe told Fox News that China poses “a greater national security threat” to the United States “than any other nation,” detailing a web of threats that includes “election influence and interference.” Intelligence officials say they are increasingly concerned about interference in the U.S. election by China, adding to existing concerns about meddling by Russia that have been around since 2016, as well as the threat of meddling from Iran. “China poses a greater national security threat to the U.S. than any other nation – economically, militarily and technologically. That includes threats of election influence and interference,” Ratcliffe told Fox News in a statement.

While Russia was widely seen as favoring now-President Trump and generally seeking to sow chaos in America during the 2016 election, the difference with China is it is seen to be seeking a Trump loss in November. Yet congressional Democrats like House Speaker Nancy Pelosi and House Intelligence Committee Chairman Adam Schiff, who ever since 2016 have issued dire warnings about Russian meddling, have not been quite so vocal about China’s potential to interfere in the 2020 election. Pelosi, D-Calif., last week said the threats of interference from Russia and China are “not equivalent,” while urging the intelligence community to put out more information about Russian efforts, saying Moscow is “actively 24/7 interfering in our election.”

Ratcliffe said the threat from China is actually significant, and he is “committing the IC resources needed to fully understand the threat posed by China and provide U.S. policymakers with the best intelligence to counter China’s broad and deep malign activities.” “China is concerned that President Trump’s reelection would lead to a continuation of policies that they perceive to be ‘anti-China,’” Ratcliffe explained, noting that the intelligence community has briefed “hundreds of members of Congress” to raise their concerns about China “and its increased efforts to impact the U.S. policy climate in its favor.” “Fair and free elections are a bedrock of American democracy, and the IC remains vigilant against the various activities by China, as well as other threat countries and actors, which seek to affect our electoral process,” Ratcliffe said.

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Great fundraiser, they said.

Kamala Harris Reportedly Owes $1M In Bills From Failed Presidential Run (NYP)

Kamala Harris, named Tuesday to be Joe Biden’s running mate, still has more than $1 million in unpaid bills left over from her failed 2020 presidential bid, according to a report. The California senator raised about $39 million for her White House bid in 2019 and spent about $40 million, leaving her campaign with just $116,380 in the bank at the end of June, Bloomberg News reported on Wednesday, citing Federal Election Commission filings. Harris ended her campaign last December amid falling poll numbers and a lack of fundraising.


International law firm Perkins Coie LLP was still owed $523,883 at the end of June, while TorchStone Global LLC, a corporate and private security company, was owed $160,702, the report said. California political consulting firm SCRB Strategies had $92,4087 in outstanding invoices. Donors have contributed slightly more than $48,000 to her campaign this year. The report noted that the campaign can’t be shuttered until all debts are paid under federal law. And while Biden raised $26 million in a day after announcing her selection, his campaign can do little to retire Harris’ campaign debt. It can donate $2,000 and the Democratic National Committee can contribute $5,000. But Biden can ask his donors to send funds to Harris’ campaign.

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Feel free to call this a failed society.

Twelve US Billionaires Have a Combined $1 Trillion (Ineq.org)

For the first time in US history, the top twelve U.S. billionaires surpassed a combined wealth of $1 trillion. On Thursday August 13th, these 12 had a combined $1.015 trillion. This is a disturbing milestone in the US history of concentrated wealth and power. This is simply too much economic and political power in the hands of twelve people. From the point of view of a democratic self-governing society, this represents an Oligarchic Twelve or a Despotic Dozen. The Oligarchic Dozen are Jeff Bezos ($189.4b), Bill Gates ($114b), Mark Zuckerberg ($95.5b), Warren Buffett ($80b), Elon Musk ($73b), Steve Ballmer ($71b), Larry Ellison ($70.9b), Larry Page ($67.4b), Sergey Brin ($65.6b), Alice Walton ($62.5b), Jim Walton ($62.3b) and Rob Walton ($62b).

Since March 18th, the beginning of the pandemic, this Oligarchic Dozen have seen their combined wealth increase $283 billion, an increase of almost 40 percent. Elon Musk has been the biggest pandemic profiteer, seeing his wealth triple from $24.6 billion on March 18th to $73 billion on August 13, an increase of $48.5 billion or 197 percent. Amazon co-founder Jeff Bezos was worth $189.4 billion on August 13, up $76 billion or 68 percent since March 18th. Facebook CEO Mark Zuckerberg was worth $95.5 billion on August 13, up $40.8 billion or 75 percent since March 18th.

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The Sacklers took out many billions, then declared bankruptcy. Now they’re “willing” to contribute more to a settlement than the entire company is worth. Sick.

US States Seek $2.2 Trillion From OxyContin Maker Purdue Pharma (R.)

U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP’s alleged role in America’s opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while playing down the risks of abuse and overdose. In filings made as part of Purdue’s bankruptcy proceedings that were disclosed on Monday, the states said Purdue, backed by the wealthy Sackler family, contributed to a public health crisis that has claimed the lives of roughly 450,000 people since 1999 and caused strains on healthcare and criminal justice systems. The filings cited more than 200,000 deaths in the U.S. tied directly to prescription opioids between 1999 and 2016.

In large states such as California and New York, claims alone totaled more than $192 billion and $165 billion, respectively. Forty-nine U.S. states, Washington, D.C. and various territories are making the claims. Oklahoma settled litigation with Purdue last year. Purdue filed for bankruptcy in 2019 under pressure from more than 2,600 lawsuits brought by cities, counties, states, Native American tribes, hospitals and others. The lawsuits said the company, and in some cases the Sacklers, used deceptive marketing and took other improper steps to flood communities with prescription opioids. The company and family have denied the allegations and pledged to help combat the opioid epidemic, including by providing addiction treatment drugs and overdose reversal medications under development.

[..] Purdue is only worth a bit more than $2 billion if liquidated. The company values a proposal to settle litigation, which includes providing addiction treatment and overdose-reversing drugs, at more than $10 billion. The Sacklers would contribute $3 billion and cede control of Purdue, with the company becoming a trust run on behalf of plaintiffs.

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These well-meaning people are mightily confused about growth:

“In the absence of new forms of liquidity support and major debt relief, the world economy cannot possibly return to pre-pandemic levels of growth..”

I think that means to want to return there.

“..the dramatic decline in the cost of renewable energy represents an opportunity for a big investment push in zero-carbon energy infrastructure, which itself would help to redress energy poverty and unsustainable growth.”

More growth? Isn’t growth itself the problem then? Never mind, anyone who talks about sustainable growth is not a serious person in my book.

The Need for Debt-for-Climate Swaps (PS)

In the absence of new forms of liquidity support and major debt relief, the world economy cannot possibly return to pre-pandemic levels of growth without risking severe climate distress and social unrest.Climate scientists tell us that in order to meet the targets outlined in the Paris climate accord, global net carbon-dioxide emissions must fall by about 45% by 2030, and by 100% by 2050. Given that the effects of climate change are already being felt around the world, countries urgently need to scale up their investments in climate adaptation and mitigation. But that will not be possible if governments are bogged down in a debt crisis. If anything, debt-service requirements will push countries to pursue export revenues at any cost, including by cutting corners on climate-resilient infrastructure and stepping up their own fossil-fuel use and extraction of resources.

This course of events would further depress commodity prices, creating a doom loop for producer countries. In light of these concerns, the G20 has called on the IMF “to explore additional tools that could serve its members’ needs as the crisis evolves, drawing on relevant experiences from previous crises.” One such tool that should be considered is a “debt-for-climate swap” facility. In the 1980s and 1990s, developing countries and their creditors engaged in “debt-for-nature swaps,” whereby debt relief was linked to investments in reforestation, biodiversity, and protections for indigenous people. This concept should now be expanded to include people-centered investments that address both climate change and inequality.

Developing countries will need additional resources if they are to have any chance of leaving fossil fuels in the ground, investing sufficiently in climate adaptation, and creating opportunities for twenty-first-century jobs. One source for such resources is debt relief conditioned on such investments. A policy tool of this type would not only put us on the path to recovery, but also could help to prevent future debt-sustainability problems that might emerge as more fossil-fuel holdings and non-resilient infrastructure become “stranded assets.” Moreover, the dramatic decline in the cost of renewable energy represents an opportunity for a big investment push in zero-carbon energy infrastructure, which itself would help to redress energy poverty and unsustainable growth.

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I should read Stephanie Kelton’s book, right?!

The Mathematical Model of Modern Monetary Theory (Steve Keen)

One Mathematical Model of Modern Monetary Operations

I confess immediately that I chose the title and subtitle for this post because their acronyms are palindromes. The subtitle is more accurate than the title, because this model considers only the monetary aspects of MMT: the Job Guarantee and inflation management components are not yet incorporated. But the monetary assertions of MMT remain in dispute in economic and political circles, so it is worth putting these into a mathematical model where their veracity can be tested. The primary stimulus for developing the model was the publication of Stephanie Kelton’s The Deficit Myth. Stephanie has written the book for non-technical readers, and she’s done a very good job: it’s a very easy read that explains why many conventional wisdoms about government spending are wrong.

But MMT is facing heavy resistance in political and economic circles, with my favourite to date being a motion before the US Congress, posted by Representative Kevin Hern, to resolve: “That the House of Representatives (1) realizes that deficits are unsustainable, irresponsible, and dangerous; and (2) recognizes— (A) that the implementation of Modern Monetary Theory would lead to higher deficits and higher inflation; and (B) the duty of the House of Representatives to condemn Modern Monetary Theory.”

The objective of this series of posts is to allow the assessment of the first part of this motion—the assertion that “deficits are unsustainable, irresponsible, and dangerous”. The models in this post are built in the Open Source system dynamics program Minsky, whose unique feature is the capacity to build models of financial flows using what are called Godley Tables (in honour of Wynne Godley, the pioneer of stock-flow-consistent-modelling). These tables enforce the “law of accounting” that (see Figure 1, A blank Godley Table).

Once an account is flagged as an “Asset” for one entity, Minsky knows that it has to also be shown as a “Liability” for another entity. This makes it possible to take an integrated look at the financial system, which allows us to assess Hern’s motion from the perspective of the entire monetary system, and not just the Government’s view of it.

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50 years later: ‘They broke up because Yoko sat on an amp!’

And in the End (Rolling Stone)

It’s a miserable Monday morning in January 1969, and the Beatles are trying to get back to where they once belonged. The Get Back project sounded like a perfect idea: just the four lads and their instruments, ready to hit the studio, return to their roots, conjure up some great songs out of thin air. Just like they used to. John, Paul, George, and Ringo have booked a TV concert special for January 18th — their first live show in years. They’ll rehearse for a couple of weeks, eyeball to eyeball, summon up genius on the spur of the moment. They’ve done it many times before. They’ve never not done it. The good news: Paul showed up today, and so did Ringo. So did the camera crew — these sessions are being filmed, so the Beatles can show a half-hour clip of rehearsal footage before their TV performance.

So here they are on Monday morning, ready to dazzle the world with a blast of spontaneous Beatles brilliance. Or at least Paul and Ringo are. Hey, has anyone heard from John and Yoko? Or George? With George, there’s a slight complication: He quit the band. On Friday, with the cameras rolling, he was trying to teach them a new song, “All Things Must Pass.” John, strung out on his new heroin habit, sneered at George with open contempt. George finally stormed out, muttering, “See you around the clubs.” John doesn’t take this seriously. “I think if George doesn’t come back by Monday or Tuesday, we ask Eric Clapton to play in it,” he says. “The point is, if George leaves, do we want to carry on the Beatles? I do. We should just get other members and carry on.” But now it’s Monday and still no George. No John and Yoko. (No Clapton, for that matter.) Paul and Ringo kill time jamming on a current radio hit, “Build Me Up Buttercup.”

But everyone gathers to discuss the crisis, complaining bitterly about Yoko’s constant presence. Surprisingly, the one who sticks up for her is Paul. He’s a sucker for a love story — he’s Paul McCartney, for God’s sake. But he also knows how much this romance means to his oldest, closest mate, his most troubled and cruel and impossible friend. “It’s not that bad,” he insists. “They want to stay together, those two. So it’s all right. Let the young lovers be together.” Paul has to chuckle, thinking about how future generations will look back at this — the Beatles, the greatest of all rock & roll bands, the world’s most legendary creative team, falling apart over such a trivial spat. Even on a winter morning as gloomy as this one, Paul breaks into a laugh. “It’s gonna be such an incredible sort of comical thing, like in 50 years’ time, you know. ‘They broke up because Yoko sat on an amp!'”

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Aug 142020
 
 August 14, 2020  Posted by at 12:35 pm Finance Tagged with: , , , , , , , , , , , , ,  11 Responses »


Egon Schiele Self-Portrait with Lowered Head 1912

 

 

Regular Automatic Earth guest writer Alexander Aston this time comes not from Zimbabwe, Cambridge or Greece, but from South Carolina, where he is on family business. And that’s where he’s venting his anger about. I’m pretty sure we would all benefit from doing more of that, get it all off our chests. I think maybe the main issue with it in the present day circumstances is you have to make sure it’s your anger, and not somebody else’s that you’re merely parroting.

I personally like Alexander’s notion of: “America, a Country For Old Men”.

 

 

 

Alexander Aston: Is there any more perfect metaphor for a society in terminal decline than the senescent Joe Biden? The U.S. election has boiled down to a choice between the authoritarian versions of Mr. Magoo and P.T. Barnum. Truly, “there’s a sucker born every minute” is a far more apropos motto for the country than E. Pluribus Unum. The Republicans have adopted a Christian Nationalism that identifies with a New York shyster that says all the shitty things they’ve been feeling for decades while blaming the least powerful. It’s always easier to kick down than punch up and moral courage is not a common trait.

Likewise, the Democrats smug self-satisfied conviction of ethical superiority and sense of entitlement to the votes of every women, brown person and leftist makes them not only insufferable but delusional. The DNC managed to crush the momentum and energy of one of the most significant left- wing grassroots movements in US history. They have demoralised a huge swath of the under-45 crowd and subverted an actual political vision (regardless of whether you agree with it or not) in favour of a man with an abysmal record and signs of growing cognitive impairment. The DNC platform offers zero substantive policy other than “not Trump” (a policy that’s going to have a very short honeymoon in the face of cascading systems failure).

The Democrats have made no concessions on even one important progressive/left issue. Now they have picked a morally bankrupt prosecutor who’s deeply entangled with the prison industrial complex at a time in which “defund the police” has coalesced into a key feature of American discourse. Yet, liberals seem completely shocked and aghast by the fact that there are large numbers of young folks, minorities and women that are unwilling to shut up and put up. The level of enthusiasm beyond the party faithful, for those still willing to vote Democrat, amounts to the ever inspiring “I’ll grit my teeth.”

 

Meanwhile, I know middle aged folks that have never voted in their lives who have signed up just to support Trump. In other words, they are motivated. Like it or lump it, that’s some of the real political complexity behind the vacuous narrative management of the MSM. On a national level, the American sense of reality is becoming more unhinged than a schizophrenic dropping acid after a weeklong meth binge. George Soros funded Antifa and Putin’s army of trolls are all monsters of the same fevered social imagination. On its current trajectory, the American Right will soon believe anyone to the left of Attila the Hun is a “far-left radical.”

Likewise, U.S. liberals will be left haunted and terrified by the spectre of Russian agents stealing their precious bodily fluids. Meanwhile, the virus will continue to rage, and corporate feudalism will further entrench itself as the benefits of imperial citizenship rapidly fade. The only thing that’s certain is that huge swaths of Americans still won’t actually understand what is happening to them and continue to blame the opposing factions of management, figments of their propaganda, the dispossessed and the marginalised. I don’t believe the specific outcome of the American election is all that relevant anymore.

The sad truth is that the United States is collapsing under the weight of a microscopic entity and its own systemic contradictions. The various narratives of what is happening and what it means to be an American have become so wildly divergent that there are multiple parallel realities operating in the United States. What’s frightening is how few realise the diversity and complexity of these various perspectives, fears and aspirations. Regardless of who wins the election, trust in the political legitimacy of the American system is being fatally undermined. If the margin of the election is close, it is guaranteed that one side will not accept the results.

 

If the election is swept, then the winning party will be saddled with a crisis of unparalleled proportions in the history of the country. Furthermore, neither party has the political vision nor competence to actually address the challenges that beset them. The U.S. would need leadership on par with a Lincoln or Aurelius to rescue the political system. Whoever is in power will rapidly face multiple and intersecting forms of systemic breakdown, resistance and noncompliance as the extent of the economic devastation becomes truly apparent.

The first part of the 2020’s will consist of material deprivation, civil unrest and increasingly robust challenges to the United States’ geostrategic position. The more that authoritarians try to exert control in a high entropy environment (robbing Peter to pay Paul), the faster the system will fall apart. Ultimately, I believe that the break-up of the United States is all but inevitable at present. What I hope is that it will be a relatively peaceful dissolution and reorganisation. What should terrify us all is the prospect of real violence as the various factions and coalitions jockey for power in the new reality. A few truly smooth brained idiots think that they just need to tool up and go mow down a few “liberal snowflakes” so that they can return to the 1950’s by Christmas.

 

A conflict in North America would be a clusterfuck that would make Syria’s civil war look like a game of checkers. Forget electoralism and eschew romantic notions of purification through violence. Build solidarity networks, figure out how to make your communities economically, socially and psychologically resilient. My suggestion would be that Mutualism, Libertarian Municipalism and Democratic Confederalism offer some good starting points for thinking about these things. I would recommend setting up a micro- factory in your community so that you can start manufacturing necessary tools and goods on a local level. Here are some freely available schematics: Civilization Starter Kit.

Try to appreciate the limitations of your own understanding so that you might be more compassionate towards others. Don’t blame people for having problems they don’t know how to fix, try helping them instead. Some things, once broken, cannot be mended. This is very true for societies. I sincerely wish you all the best of luck. Please be good to one another and defend those less powerful and fortunate than yourself.

P.S. If you are in a swing state you should follow your conscience, but it should be beneath any person’s dignity to vote for either party in their safe states. If you don’t understand how the American electoral system works at this point then shame on you, stop berating people for voting Green in Montana or Libertarian in California, they’re actually displaying some political acumen.

 

 

 

 

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Aug 102020
 


Cy Twombly Fifty Days at Iliam: Like a Fire that Consumes All before It 1978

 

 

Might as well call it a social experiment. Any other name, like “coup” or “fishing expedition” or “hookers peeing on a bed” or “justice being done” would just inflame “passions” and lead away from what should be the actual topic.

Whatever you call it, the fact remains that Donald Trump has been the first US president to be under continued investigation for the entire 4 years of his first term, and for about a year before it as well. And that should be a cause for alarm for anyone who cares even a little bit about the American political system, including those who abhor Trump. Because once you do that, it’s no longer about just one president, it’s about all who will follow him, and inevitably about the integrity and validity of the system as a whole.

In principle, there should be no investigations of a sitting president, and not even of a presidential candidate, because this risks endangering 1) the entire electoral process, and 2) the Office of the President (not for once, but for ever). In principle. If there must be an investigation, it must be based on solid evidence available beforehand, it must be short, and the President must be removed. If all of these three things are not guaranteed, no investigation is warranted, and the accusing parties should be “liberated” from the positions they held when they initiated the investigation regardless. Skin in the game.

 

 

It gets increasingly harder to write about American politics, or express an opinion in any other way, without being dumped into one of two camps, never to be heard from again in the other (except for ridicule or slander). There is no such thing as a neutral or objective viewpoint anymore. You’re either with us or you’re against us – or them.

Seeing -and projecting- the world in black and white is a tempting proposal for anyone afraid of being confused; it should, however, never be an excuse for the media to not present its viewers and readers with a full color palette. But we can see every single day how that went. Black and white it is. And in that environment, too claustrophobic to be put in a box, I might as well paint the picture as I see it. Yes, in color.

 

The “social experiment” I see progressing has two parts:

1) can a political party, aided and abetted by the media and intelligence services, unseat an elected president it has just lost an election to?

2) can a presidential candidate be elected while shunning the media, debates, etc., and only appear at times and in forms that have been pre-selected by her/his handlers for maximum effect, while hiding his/her weaknesses?

 

As for no. 1, it has evidently not succeeded, but that is certainly not for lack of trying. One investigation has followed the other non-stop since 2016, in public and behind the scenes, and they have all come up empty. Of course one side would contest that and still say there was lots of evidence, but if so, it obviously wasn’t very strong, or Trump would have been gone.

People may also claim that the mandate of the Mueller investigation was too narrow, but really, go back and watch the man’s pathetic (sorry, but it was) testimony in Congress after the fact, that should be enough. Adam Schiff and Jerry Nadler and others have promised solid and inconvertible evidence many times, but we never saw any. Rest assured, whatever Trump may have done wrong, you would have heard about it by now.

Or to put it another way: he probably did many things wrong, but not the things he was accused of. In fact, the entire Putin puppet narrative is so idiotic it’s impossible not to ponder from time to time that it was designed from the get-go to support Trump, not hurt him.

As for no. 2, that looks even more experimental. The approach is helped along “wonderfully” by the pandemic, which provides plenty excuses to keep Biden hidden, but it goes against everything presidential campaigns have been built upon throughout American history: contact with voters. That very few people would believe Biden is his own man, and not a sock puppet, can’t help.

But there is more at stake. Presidential campaigns are one element of a much bigger process, and you can’t separate the two. Both parts of the “social experiment” seem to run afoul of the respect that bigger process, and ultimately the entire political system, necessarily demands from all participants, from an individual voter to a President. And that is much more important than either candidate. You can’t temporarily switch off that respect if and when that might suit your purpose, because you risk for it never to be switched on again.

 

You may dislike a presidential candidate, perhaps even intensely so, but that should never make you lose sight of the integrity, if not the sacredness, of the election process, of the political system, of the institutions, of the Constitution, and certainly not of the Office of the President of the United States. Because once you do that, you open the door for everyone to do the same in the future. And no, you can’t blame that on the candidate you don’t like, you do it.

When a candidate is selected through the primaries of his/her party, you must respect that, because if you don’t respect the process, you are lost, the system is lost, and there’s no telling when you’ll see it back, if ever. If that candidate is then elected President, a lot of doors that before allowed you to question and criticize him/her, should be closed. The country at that point has either a new President, or a second-term one. A different phase of the political process starts.

The House and the Senate become the critics, empowered by the system to hold the President accountable. But only the House and the Senate. Not the media, whose role it is, other than in the occasional opinion piece, to report on decisions made; not intelligence services, whose role it is to serve the country, and the new President it just elected; and not the opposition party, whose role it is to prepare for the next election, and to provide a degree of counterbalance, depending on how bad their loss was, on Capitol Hill.

The entire picture is crystal clear. So is everybody’s role in it. But now and then people -try to- refuse to accept their roles, obviously believing that they are more important than the integrity of the political system, and ignoring that in doing so they put the whole system at risk.

 

What was happening first became apparent in late 2015 – early 2016, when the New York Times began running multiple stories every day directed against Donald Trump. Mostly small bits, based on innuendo about his past, with a whiff of truth perhaps, but not more. The word “gratuitous” comes to mind. At a certain point, they did a dozen per day of the stories, it became assembly line work for the writers and editors..

The Washington Post chimed in, and so did CNN, MSNBC and others, including international press. It turned into a feeding frenzy, with all of them completely losing sight, voluntarily or not, of their roles as news providers. They all shape-shifted into opinion-only-makers, confident that their audience would not notice the difference, at least not at first. At that point it became a very Pavlovian thing.

Which is why I was initially going to name this essay “Trump vs Pavlov”. 100+ years ago, Ivan Pavlov “found” that if he rang a bell in front of a dog, and then gave her food, she would start to associate the two. When he increased the time-lapse between first, the bell, and then, the food, the dog would salivate in expectation of food at just the sound of the bell. In the end, all he had to do was ring the bell, with no food around, and the dog would salivate. So he had nothing to offer, no food, no substance, but the reaction was the same.

That is a very accurate description of what a large part of the US media have done -and become-. All they have to do at this point is mention Trump, or just show his picture, and their public will react the same every single time: Orange Man Bad. There doesn’t have to be any substance, any factual journalistic reports of wrongdoing. The “conditioned reflex” as Pavlov described it, has set in.

And their readers and viewers have become addicted to this. How could they not? They’ve been bombarded with 1000s of these bells ringing, and the substance may not be there, but the expectation of it is. If you’re a regular viewer of Rachel Maddow, what are the odds that your opinion is still your own after hearing RussiaRussia a million times? The only way it could be yours is if you switch her off.

I’ve written before that I don’t even think they really set out to do this. Initially, there were probably just some CEOs and owners and editors who didn’t like Trump and/or were affiliated in one way or another with the other party -and later candidate-. Who was counted on to win big anyway, so why not (well, because of the integrity of the political system!).

It was only later that they found out 24/7 anti-Trump “reporting” was a great business model for them. CNN was dying in early 2016, the New York Times was nor far behind, and all of a sudden numbers of viewers and readers and subscribers went through the roof.

Their problem is that if they succeed in making Trump lose in November, they will be back to where they came from before he appeared on the political scene. All of their “reporting” on US politics has devolved into a scheme based on ringing a bell, and on the scandal and anger their non-stop salivating audience have become addicted to, and mistake for substance.

If Joe Biden should win, that scheme is dead. They may hope to last a bit longer on the angry scandal of a possible persecution of Trump if he leaves office, but that would be it, and that’s not a business model. They can’t very well now turn on Biden and his puppeteers.

New York Times writer and editor Bari Weiss said it very well when she left the paper a few weeks ago, she summarized the essence of the MSM problem in just a few words:

“[..] the lessons that ought to have followed the election – lessons about the importance of understanding other Americans, the necessity of resisting tribalism, and the centrality of the free exchange of ideas to a democratic society—have not been learned. Instead, a new consensus has emerged in the press, but perhaps especially at this paper: that truth isn’t a process of collective discovery, but an orthodoxy already known to an enlightened few whose job is to inform everyone else”.


Why edit something challenging to our readers, or write something bold only to go through the numbing process of making it ideologically kosher, when we can assure ourselves of job security (and clicks) by publishing our 4000th op-ed arguing that Donald Trump is a unique danger to the country and the world?

 

That’s the media. Second in line is US intelligence. Which, there’s no other way to put it, conspired against a presidential candidate and, when he was elected, a sitting president. The Strzok-Page “insurance policy”, the Obama Oval Office conversations where Comey, Brennan, Clapper, Susan Rice were present, plus 1,000 other things, the overall picture doesn’t exactly point to that famous seamless transition, and US Intel played a pivotal, because accommodating, role in that.

The best way to show this is perhaps that US intelligence themselves did not (could not) come up with a report on alleged links between the -prospective- president’s team and Russia, but took a dossier paid for by the president’s opposition and used it to discredit and persecute him and people in his team. The dossier was written by a two-bit MI6 hustler who hadn’t set foot in Russia in at least a decade, and whose main ‘Russian source’ wasn’t there either, but sitting in an office in the US.

That source in turn had contacts with a group of Russians whose very business model it was to make up and embellish whatever stories the highest bidder required, while failing to deal with their own severe drinking problems. That dossier was the entire foundation (or 99% of it) behind Rod Rosenstein appointing Bob Mueller as a Special Counsel. The appointment would never have been made, never have been possible, without the Steele dossier.

 

How was the dossier vetted by US intelligence, if at all? It’s very clear now what was wrong with it, but the all knowing and very clever intelligence people could not have figured that out 4 years ago, and instead cleared it for Mueller, for further FBI use, for FISA applications? How about their treatment of Michael Flynn, who they had already cleared only to resurrect the dead corpse of their investigation into his talks with Russian ambassador Kislyak? How would you, personally, spell “in good faith”?

We will see in the near future what the Durham investigation into all Russiagate players will come to. Apparently, Durham has just another three weeks to present at least something, because there is a two-month “no-go-zone” before the election, during which he would be accused of tampering with the election. And the premise for the Democrats and their sympathizers is that if Biden wins, all slates will be wiped clean.

They won’t, by the way. America still has a justice system, even if it is oftentimes crippled and grinding(ly) slow. Just watch Michael Flynn attorney Sidney Powell and her team. They have vowed to not only have their client be exonerated, but to fully clear his name, which according to their view has been besmirched by everyone up to and including Joe Biden and Barack Obama.

 

The third leg of the “creature” is the Democratic party. Who have stepped so far over their boundaries, nobody recognizes anymore that there were any. Or that the political system they are an integral part of, dictates that there are things they cannot do, lest they corrupt that system to the core.

Once you lose a presidential election, you prepare for the next one. You don’t use the next 4 years to try and frustrate the president you just lost to with all you got. The system should not allow it and can not tolerate it. There should be skin in the game for opposition politicians, who when they come with accusations of gross misconduct serious enough to remove a president, should be forced to step down when the accusations don’t lead to the intended result.

It should never be a free for all, in which you can simply try again the next morning. Because the system cannot work if that is possible. It can’t be that if you win a midterm election and get a majority in the House, you can then use that majority to make it impossible for a president to work on the agenda that made millions vote for him/her. That would cause the system to grind to a halt, and the system must always be more important than its temporary participants (even those who “sit” for 40-50 years).

When you look at the speaker’s list for the Democrat -non- convention next week where Joe Biden will be confirmed as their -virtual- candidate, you see that other than AOC, it’s just a long list of the same old people who were already there when they lost in 2016, and co-losers Hillary and Obama still have a very tight grip on the power and the purse strings.

Why they stick with Joe Biden, g-d only knows, and the same goes for whichever highly unpopular black woman they pick as VP who could soon be president. And sorry, but they all are. Kamala Harris was among the first to step down during the primaries because she didn’t get any votes. Susan Rice is not exactly “loved by the people” either, and the rest are no-names, except for Warren, but she’s both too left and much too white.

So you’re thinking: what’s going on there? That’s really the best you can do? But it does seem to be, likely because Barackillary have a small group of confidantes to choose from who they themselves are confident will be willing to cede all actual power to them once elected. And if Harris and Rice don’t get picked as VP, they’ll still exert a lot of power.

As will Pelosi, Schiff, Nadler, there’s more new blood at Madame Tussaud’s than at the upper echelons of the Democratic party. Yes, AOC can come in to represent the squad in a cynical move (no power but brings in lots of votes), but that’s it. For the rest it’s still just the broken left wing of the war party. But you’re right, they’re none of them, Trump. And that at the same time is the sole identity they possess.

 

Anti-Trumpism has become a political religion. Because Trump is the only topic that attracts clickbait and viewers. The only topic that rings a bell. Joe Biden rings no bells whatsoever. A while back Donald Trump jr tweeted:

Trump is really running against the media, Silicon Valley, the establishment, the swamp, Hollywood and maybe Joe Biden.

While investor GreekFire23 did even better:

Trump is running against himself in this election. The vote will come down to those who love him vs those who hate him. Biden is totally irrelevant and not even campaigning. Biden has no platform, no slogan, no stickers, no signs, no rallies, no followers. It’s Trump vs Trump.

What can still sink Trump is obvious: it’s the economy and the pandemic. America’s problem is that no matter who wins, those will still be its main problems by January 2021. And another problem has been added in the course of 2020: protests and violence in the streets.

 

Update: I thought I could leave it at that for now, step out for a moment, have a glass of wine, let it all sink in, and write a closing paragraph. But then I was sitting outside in gorgeous Athens and this popped up, which I very obviously can’t leave out:

Senate Chairman Subpoenas FBI Director Wray For Russiagate Records; Puts Bidens On Notice

FBI Director Christopher Wray has been subpoenaed by the Senate Committee on Homeland Security and Governmental Affairs to produce “all documents related to the Crossfire Hurricane Investigation,” which includes “all records provided or made available to the Inspector General” regarding the FISA probe, as well as documents regarding the 2016-2017 presidential transition..

[..] The subpoena was issued by Sen. Ron Johnson (R-WI) as part of his investigation into the origins of Russiagate. It gives Wray until 5 p.m. on Aug. 20 to produce the documents. Johnson also released a lengthy letter on Monday in which he defended his Committee’s investigation and accused Democrats of initiating “a coordinated disinformation campaign and effort to personally attack” himself and Sen. Chuck Grassley (R-IA) in order to distract from evidence his committee has gathered on Joe and Hunter Biden’s Ukraine dealings.

[..] Johnson’s committee has secured testimony from at least one State Department official who worked in Ukraine, and says the Bidens’ conduct created the appearance of a conflict of interest. “The appearance of family profiteering off of Vice President Biden’s official responsibilities is not unique to the circumstances involving Ukraine and Burisma,” wrote Johnson. “Public reporting has also shown Hunter Biden following his father into China and coincidentally landing lucrative business deals and investments there.

“Additionally, the former vice president’s brothers and sister-in-law, Frank, James and Sara Biden, also are reported to have benefited financially from his work as well.

I can’t let that go because it addresses exactly what my closing paragraph would have been about. Which is the risk of the giant divide that has developed in US society, getting even wider, and potentially leading to utter mayhem. Actually, it’s not even ‘potentially’ anymore, there already has been a lot of violence.

The Democrats think they will win easily on November 3, and then push through all of their their policies, after dumping on Trump for 4 years with their media and intelligence friends, but the 63 million Americans who voted for Trump, and most of their family and friends with them, don’t think so. That’s not a threat, it’s an observation.

They feel cheated out of their 2016 victory. They realize (or should I say “suspect”) that Russiagate and the Mueller probe and the Zelensky-linked impeachment “hearings” were empty vessels directed against the election outcome that they won fair and square, and I guarantee you they won’t take it sitting down.

Which means that no matter who wins, polarization will reach levels America has never seen, and, frankly, should never wish to. Because all of the people involved, bar just a precious few, will have to live together in the same country, and share the same society, streets, highways, stores and resources.

And sometimes I wonder: how are they going to do that? If Trump should win, how will the entire so-called left react, from the Democrats through the MSM to BLM? Will they just increase the protests and the violence in the streets?

Alternatively, if Joe Biden wins, how will the Conservative side of America react? Will they all go home and wait for what the DNC has in store for them, or will their reaction be pro-active? I know which reaction I would see them lean towards.

You have these two sides in society who appear further apart than even Moses could have hoped to bring back together again, you have the media who thrive on widening that divide even further, it’s a scary picture.

 

And in the meantime, while everyone’s busy blaming each other, who’s going to take care of the country?

 

 

 

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Mar 032020
 


Ben Shahn Quick lunch stand in Plain City, Ohio 1938

 

Italy Has Exported Cases Of Coronavirus To 24 Countries – WHO (TMZNaija)
China Manufacturing Collapse Confirmed By Private Sector Factory Survey (SCMP)
China Reports Surprising Rail Freight Growth In February (SCMP)
A Modern Jubilee As A Cure To Financial Ills Of Coronavirus (Steve Keen)
This Ain’t No Fooling’ Around (Kunstler)
Tucker Carlson On Dems’ Biden Push: ‘They’re Pushing A Defective Product’ (Fox)
What Could Divide The Democrats More Than Conspiring To Stop Bernie? (Tracey)
Ukraine Court Throws Wrench Into Joe Biden’s 2020 Election Plans (Solomon)
Hillary Clinton Ordered To Give Sworn Deposition On Email Server, Benghazi (ZH)
Erdogan’s Use Of Refugees To Pressure EU Is ‘Unacceptable’ – Merkel (RT)
Greece Seeks To Fortify Borders Amid Erdogan Threats (K.)
UN Says Greece Has No Right To Stop Accepting Asylum Requests (K.)
The Armoured Glass Box is an Instrument of Torture (Craig Murray)

 

 

Is COVID19 topping out in China? It’s possible, but they want it too much, and they’ve played loose with the numbers a lot. Strangest thing is perhaps that despite a cavernous drop in manufacturing PMI, a rise in freight train cargo is reported for February.

Most interesting these days, I find, are Italy, South Korea, Iran, which are in their exponential rise phases, and other countries (US?) that may soon follow suit. As I said yesterday: “Italy: only 10 days ago, on Feb 22, when S. Korea cases jumped to 156(!) [now 5,186], Italy first became a thing with 30 cases and 2 deaths. 2,000 cases now, 52 deaths and a 2.5% death rate.”

That Italy has exported the virus to as many as 24 countries also gives me pause for thought. So for now I’ll keep the usual numbers and graphs coming.

But in the run-up to Stupid Tuesday I can also finally pay some attention to the Dems, now that the DNC power grab has become so blatantly obvious.

 

Cases 91,317 (+ 2,069 from yesterday’s 89,248, when gain was 1,616)

Deaths 3,120 (+ 62 from yesterday’s 3,058)

 

• Hubei 114 new cases, 31 new deaths – Total 67,217 cases, 2,834 deaths.
• South Korea 851 new cases, total 5,186, 34 deaths
• Italy 346 new cases, total 2,048, 52 deaths
• Iran 523 new cases, total 1,501, 66 deaths
• France 191 (from 130 yesterday), 3 deaths
• US 103 cases, 6 deaths

 

From SCMP:

 

 

From Worldometer (Note: mortality rate at 6%):

 

 

From COVID2019.app:

 

 

 

 

This article is a few days old, but I like the idea. Original title was “Italy Has Exported 24 Cases Of Coronavirus To 14 Countries”, but time won’t stand still.

A list I picked up on Twitter of countries linking infections to Italy: China, Holland, Denmark, Nigeria, US (GA, NH, MA), Iceland, UK, Croatia, Israel, Romania, Spain, Austria, Algeria, Brazil, Finland, Switzerland, Macedonia, Greece, Estonia, Sweden, France, Germany, Lithuania, San Marino.

Italy Has Exported Cases Of Coronavirus To 24 Countries – WHO (TMZNaija)

The World Health Organization (WHO) has revealed that Italy has exported 24 cases of coronavirus to 14 countries. The global health body also revealed that 97 cases have been exported from Iran to 11 countries. In his opening remarks at the media briefing on COVID-19 – on Friday, 28 February 2020, WHO’s Director-General, Tedros Adhanom Ghebreyesus, stated that in the past 24 hours, China reported 329 cases – the lowest in more than a month. Ghebreyesus who reeled out figures regarding the spread of the virus said that as of 6am Geneva time this morning, China reported a total of 78,959 cases of COVID-19 to WHO, including 2791 deaths. “Outside China, there are now 4351 cases in 49 countries and 67 deaths.

“Since yesterday, Denmark, Estonia, Lithuania, Netherlands, and Nigeria have all reported their first cases. All these cases have links to Italy,” Ghebreyesus told newsmen. The Director-General also said that the continued increase in the number of cases, and the number of affected countries over the last few days, are clearly of concern. He, however, noted that WHO’s epidemiologists have been monitoring these developments continuously, and have now increased its assessment of the risk of spread and the risk of the impact of COVID-19 to very high at a global level.


“What we see at the moment are linked epidemics of COVID-19 in several countries, but most cases can still be traced to known contacts or clusters of cases. We do not see evidence as yet that the virus is spreading freely in communities. “As long as that’s the case, we still have a chance of containing this virus, if robust action is taken to detect cases early, isolate and care for patients and trace contacts. “As I said yesterday, there are different scenarios in different countries and different scenarios within the same country,” Ghebreyesus said.. According to him, the key to containing this virus is to break the chains of transmission. Meanwhile, according to BBC, not less than 210 people has died from coronavirus disease in Iran.

Read more …

An index of smaller companies than the Beijing one covers.

China Manufacturing Collapse Confirmed By Private Sector Factory Survey (SCMP)

A collapse in China’s manufacturing sector in February was confirmed on Monday, with a new survey of privately-owned producers emphasising the economic damage caused by the coronavirus epidemic. The Caixin/Markit manufacturing purchasing managers’ Index (PMI), a gauge of sentiment among the country’s smaller factory operators, plunged to 40.3 in February from 51.1 in January. The weak data will reinforce expectations that China could report negative growth in the first quarter of 2020 for the first time since the Cultural Revolution in the late-1960s and early-1970s. It will also renew calls for Beijing to take more aggressive steps to support the economy.


The survey was well below market expectations for a drop to 46.0 and marks the lowest reading since the survey began in April 2004. It was weaker than 40.9 in November 2008 amid the global financial crisis. The Caixin index follows Saturday’s release of the official manufacturing PMI, which crashed to a record low of 35.7 in February, below the previous trough of 38.8 reached in November 2008 at the start of the global financial crisis, the National Bureau of Statistics said. The survey for the official gauge covers more larger and state-owned firms, while the Caixin survey covers smaller firms. A reading below 50 means activity in the manufacturing sector is contracting. The further below 50 the index falls, the larger the contraction.

Read more …

Was this coordinated with Xi?

China Reports Surprising Rail Freight Growth In February (SCMP)

China’s official railway operator has said that rail freight rose in February, despite the coronavirus outbreak forcing large parts of the country into lockdown, and the official purchasing managers’ indices for manufacturing and services tumbling to all-time lows. China Railway, the state-owned railway operator, said in a statement on Sunday that total railway freight amounted to 310 million tonnes in February, a rise of 4.5 per cent from a year earlier, just a day after the National Bureau of Statistics (NBS) announced that China’s factory and service sector activity sunk into deep contraction.


The supplier delivery time sub-index in China’s manufacturing purchasing managers’ index (PMI), which measures logistics efficiency by railway, road and air for factories, dropped to 32.1 in February, a sign that raw material supplies to the manufacturing sector were at record lows last month, the NBS said. China Railway, meanwhile, said that China loaded 171,000 railway cars per day on average last month, a daily increase of 4,945 from a year earlier. Container freight on railways surged 39.5 per cent to 26.61 million tonnes, it added, in an surprisingly stable account of China’s rail freight network. In the January-February period, China’s freight cargo rose by 0.6 per cent to 670 million tonnes, an all-time high, according to China Railway.

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Steve’s elaborate write-up of things to do.

A Modern Jubilee As A Cure To Financial Ills Of Coronavirus (Steve Keen)

Extraordinary measures are needed now to stop the health effects of the Coronavirus triggering a financial crisis that could in turn make the Coronavirus worse. All of these actions can be undertaken by Central Banks and financial regulators, once they have been given permission by governments. Two of these measures are already being undertaken by some Central Banks:

• A per capita payment to all citizens so that renters can pay the rent, mortgagors can service their mortgages, and workers, whether unemployed or not, can buy food and other critical goods. This can be financed as Quantitative Easing was financed, without recourse to the Treasury, or taxation (Hong Kong has already done this);

• Normal bankruptcy rules for companies and especially banks should be suspended, to allow them to continue operating despite falling into negative equity if revenues fall sharply and share prices plunge; and

• Central Banks should buy shares directly to support share prices, rather than simply buying bonds under Quantitative Easing, to prevent a stock market collapse undermining both business and banks (Japan’s Central Bank is already doing this, though for other reasons).

Argument – There is no doubting now that the Coronavirus is a pandemic. This is the first one we have experienced since the “Spanish Flu”, which lasted from January 1918 till December 1920. Other recent serious diseases have had much lower levels of transmissibility. This is the first disease to compare to the Spanish Flu in terms of both transmissibility and virulence. Europe was embroiled in World War I at the outbreak of the Spanish Flu. Its health and population impacts were huge: estimates of the death toll vary between 40 and 100 million in a global population of 1.8 to 1.9 billion.

Here I want to focus on its financial effects. They were mild, because the great financial crisis of the 20th century, the Great Depression, lay ten years in the future. Disruptions to life were extreme, but disruptions to the economy were relatively small, and it was a war economy anyway for much of the world. This meant there was guaranteed employment and wages for military personnel, rationing for the general public, and other wartime measures. All these things limited the financial contagion from the medical contagion. Crucially, private debt was a mere 55% of US GDP when the flu outbreak began. The private sector was relatively robust.

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“Is there anything you can think of over at the Wal Mart or the Walgreens that isn’t made in China?”

This Ain’t No Fooling’ Around (Kunstler)

Is there anything you can think of over at the Wal Mart or the Walgreens that isn’t made in China? I mean, everything from a dustpan to a lint brush? I can’t say for sure, because I’m not over in China, but the place is apparently not open for business these days. One must surmise that a lot of activities in the USA may not be open for business much longer, either. The action in my local supermarket yesterday had an undercurrent of stealth desperation; no overt panic buying, no fighting in the aisles, but an edge of suspense. Personally, I cleaned out an entire product-line of cat food, loaded up on cooking oil, rice, dry beans, and evaporated milk — and I wasn’t the only one checking out with the sixteen-roll bindle of toilet paper.

Obviously, many products were still there on the shelves to get (minus that cat food). Is the time perhaps at hand when a lot of stuff won’t be? Just sayin’. The message is getting out — though not from US authorities yet — that everybody may soon be spending a lot of time home alone. That’s exactly what has happened in China and a region of northern Italy. France banned events with more than 5,000 people (why that number, exactly?). Japan has canceled school for the time being — duration unknown for now. So a USA lockdown is not merely hypothetical. These, then, are two fundamental conditions the world faces for a while: nobody moves and nothing gets produced.


Are we taking this thing too seriously (some might ask)? I don’t pretend to know the answer, except, again, to point to China and think that they can’t possibly just be fooling around with all those zombified cities and shuttered factories. The next question might be: will the global economy return at some point to “normal” operating conditions, that is, the fabulously complex network of supply lines, markets, and payment arrangements as they worked up until January 2020? I am for sure not sure about that. Once a gigantic and fantastically precise mechanism breaks, I doubt it comes back together neatly and quickly. In the physical universe, the power of emergence is like the cue ball on a billiard table, and it appears that all the rest of the colored balls will be bouncing off the bumpers and sinking into pockets for while… and eventually the global table will look a lot different.

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Stupid Tuesday.

Tucker Carlson On Democrats: ‘They’re Pushing A Defective Product’ (Fox)

Tucker Carlson mocked those pushing and supporting former Vice President Joe Biden Monday, in particular those who think he’s the candidate to stop the nomination of Vermont Senator Bernie Sanders. “And tonight, they have found their war horse, a hero they imagine will carry them forth to victory against the wild-haired infidel from Vermont. It is this candidate whom you should know is literally now the youngest man in the Democratic race,” Carlson said on “Tucker Carlson Tonight.” “This is the man they believe has the competence, the intensity, the intellect to repel the seething horde of Sanders-ites. Ladies and gentlemen, Mr. Joe Biden.” Carlson played a montage of clips showing Biden fumble on the campaign. The host then chastised those pushing Biden to continue running, calling it “cruel.”

“Running Joe Biden for president is like making your dog wear a dress,” Carlson deadpanned. “It may make for an amusing Instagram post, but it’s wrong. You can see the confusion in the dog’s eyes.” The host ripped former Democratic presidential candidates Pete Buttigieg and Amy Klobuchar, among others, for endorsing Biden who he referred to as a “defective product.” “Today, both Pete Buttigieg and Amy Klobuchar endorsed Biden. So did former Senate Majority Leader Harry Reid and Beto O’Rourke,” Carlson said. “These are party people doing the bidding of their corporate masters. There’s nothing warm or sentimental about it. They’re pushing a defective product on consumers and they know it. They’re selling lawn darts.”


Carlson believes the threat from Sanders is about “institutional control.” “The Biden campaign isn’t about ideas, much less ideals. The Democratic establishment’s only concern is institutional control,” Carlson said. “That’s where all of their power comes from. From holding together and running things. If the Democratic coalition breaks down, they are by definition powerless.” “They have nothing. And the real threat of Bernie Sanders is the threat he poses to the party. He could split it in half and break it forever,” Carlson added. “That cannot happen. Joe Biden is their last chance. That’s why they’re backing him.”

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If they fail to stop his candidacy, what other tricks are up their sleeves?

What Could Divide The Democrats More Than Conspiring To Stop Bernie? (Tracey)

Perhaps the intense wave of establishment Democratic party consolidation around Joe Biden over the past 48 hours isn’t a concerted conspiracy — no smoke-filled rooms, no corrupt deals, no villainous blackmail schemes. But the Democratic party establishment (which we’re often told does not exist) is clearly making every effort to give the appearance of something conspiratorial going on. Take yesterday, for instance. Pete Buttigieg meets for breakfast with 95-year-old Jimmy Carter (?), ensures the visit is well-publicized, then heads home to South Bend and pulls the rug out from under his campaign. Wait, what? Is this the same Pete Buttigieg whose aides just a few days earlier released an elaborate memo detailing his surefire path to a formidable delegate acquisition?


Yet suddenly his Super Tuesday plans are scrapped, and the thousands of early votes already cast for him in California and elsewhere are effectively nullified. We’re all supposed to pretend this is normal behavior? Because it seems a bit sociopathic. I personally would never have voted for Pete. Nor would I have voted for Amy Klobuchar, who pulled the same 11th-hour dropout stunt today. But part of me still finds it disgraceful that these candidates would gut-punch their staff, volunteers, supporters, and voters in such a manner — hours before a major national election they’d been working toward for a full year — after both candidates gave every indication that they were going to actively contest. Instead of patting themselves on the back, shouldn’t Amy and Pete be begging for forgiveness, especially from those who already voted for them in Super Tuesday states — as it turns out, on false pretenses?

Beto 9 months ago:

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John Solomon is back again.

Ukraine Court Throws Wrench Into Joe Biden’s 2020 Election Plans (Solomon)

A Ukrainian court has ordered an investigation into whether Joe Biden violated any laws when he forced the March 2016 firing of the country’s chief prosecutor. The ruling could revive scrutiny of Hunter Biden’s lucrative relationship with an energy firm in that corruption-plagued country just as the former vice president’s campaign for the Democratic presidential nomination is surging after a lackluster start. Former Prosecutor General Viktor Shokin, who has long alleged he was fired because he would not stop investigating the Burisma Holdings firm that employed Hunter Biden, secured the ruling last month. Ukrainian officials confirmed the State Bureau of Investigation has since complied and initiated the probe.

The Pecherskyi District Court of Kyiv ruled last month that Shokin’s lawyers had provided sufficient evidence to warrant a probe and “obliged the authorized officials of the State Bureau of Investigation” to accept the ex-prosecutor’s complaint and “start pre-trial investigation of the reported data,” according to an official English translation of the ruling provided by Shokin’s attorney. The ruling does not mention Biden by name, but court filings by Shokin’s lawyers that led to the decision show that the former prosecutor had alleged “the commission of a criminal offense against him by Joseph Biden, a citizen of the United States of America, in Ukraine and abroad: interference in the activities of a law enforcement officer.”


[..] Joe Biden and his defenders have denied any wrongdoing, saying the vice president sought Shokin’s firing because the prosecutor was ineffective in fighting corruption. His supporters have also claimed that the Burisma investigation was dormant at the time Shokin was fired and therefore not a high priority. But evidence has emerged in recent weeks that the probe into Burisma, in fact, was heating up when Shokin was fired in spring 2016. The prosecutor’s office had secured a ruling re-seizing assets of Burisma’s owner in early February 2016, and the Latvian government acknowledges it sent a warning to Ukraine officials that same month flagging several Burisma transactions, including payments to Hunter Biden, as “suspicious.”

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“..the Justice Department inexplicably still takes the position that the court should close discovery and rule on dispositive motions. The Court is especially troubled by this.”

Hillary Clinton Ordered To Give Sworn Deposition On Email Server, Benghazi (ZH)

Hillary Clinton has been ordered to give a sworn deposition to Judicial Watch regarding her emails and documents related to the attack on the US consulate in Benghazi, Libya while she was Secretary of State. The ruling is in response to the conservative legal group’s lawsuit, “Judicial Watch v. U.S. Department of State” – specifically regarding “talking points or updates on the Benghazi attack.” “Judicial Watch famously uncovered in 2014 that the “talking points” that provided the basis for Susan Rice’s false statements were created by the Obama White House. This Freedom of Information Act (FOIA) lawsuit led directly to the disclosure of the Clinton email system in 2015.” -Judicial Watch

Discovery in the case began in December, 2018, when Judge Royce C. Lamberth allowed Judicial Watch to explore whether Clinton’s use of a private email server was intended to circumvent the Freedom of Information Act (FOIA). JW also sought to determine: “whether the State Department’s intent to settle this case in late 2014 and early 2015 amounted to bad faith; and whether the State Department has adequately searched for records responsive to Judicial Watch’s request.” “The court also authorized discovery into whether the Benghazi controversy motivated the cover-up of Clinton’s email. The court ruled that the Clinton email system was “one of the gravest modern offenses to government transparency.” The State and Justice Departments continued to defend Clinton’s and the agency’s email conduct.” -Judicial Watch

On Monday, Judge Lamberth overruled Clinton and the State Department’s objections to limited additional discovery, writing “Discovery up until this point has brought to light a noteworthy amount of relevant information, but Judicial Watch requests an additional round of discovery, and understandably so. With each passing round of discovery, the Court is left with more questions than answers.” Lamberth also said that he is troubled by the fact that both Clinton and the State Department want discovery to end.

“[T]here is still more to learn. Even though many important questions remain unanswered, the Justice Department inexplicably still takes the position that the court should close discovery and rule on dispositive motions. The Court is especially troubled by this. To argue that the Court now has enough information to determine whether State conducted an adequate search is preposterous, especially when considering State’s deficient representations regarding the existence of additional Clinton emails. Instead, the Court will authorize a new round of discovery “-Judge Lamberth

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Erdogan told Bulgarian PM he doesn’t want to talk to Greek PM, and won’t send any refugees to Bulgaria (a few km away from Greek-Turkish border)

Erdogan’s Use Of Refugees To Pressure EU Is ‘Unacceptable’ – Merkel (RT)

German Chancellor Angela Merkel has called Turkey’s decision to release thousands of migrants toward the EU “unacceptable,” and accused Turkish President Recep Tayyip Erdogan of pressuring the EU “on the back of the refugees.”Turkey allowed thousands of migrants to leave its territory over the weekend, accusing EU leaders of failing to back its plans for a Turkish-controlled ‘safe zone’ inside Syrian territory. With Turkish forces engaged in open warfare with the Syrian government in Idlib, Erdogan opened the floodgates to Europe, in a move seemingly designed to put pressure on his NATO allies to back his Syrian offensive.

“I understand that Turkey is facing a very big challenge regarding Idlib,” Merkel told reporters on Tuesday. “Still, for me it’s unacceptable that he – President Erdogan and his government – are not expressing this dissatisfaction in a dialogue with us as the European Union, but rather on the back of the refugees. For me, that’s not the way to go forward.”


Already, Greek authorities have struggled to hold back the human wave that has crashed upon its border with Turkey. “This is an invasion,” Development Minister Adonis Georgiadis told Skai TV on Monday, as police fired tear gas at migrants attempting to storm the border fence, and as the Greek coast guard tried to stop dinghies full of refugees from landing on the country’s southern islands. Though criticized for her “open door” migration policy during the 2015 migrant crisis, Merkel has since attempted to reduce the influx. However, despite promising Erdogan additional aid in January in exchange for holding more than 3 million migrants on Turkish soil, Merkel refused to support her Turkish counterpart’s military operation in northern Syria, prompting Erdogan to follow through last weekend on his long-standing threat to release the migrants into Europe.

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Stories about Greek guards killing refugee(s) are fake news, says Athens, spread by Erdogan.

Greece Seeks To Fortify Borders Amid Erdogan Threats (K.)

As Turkish President Recep Tayyip Erdogan warned on Monday that soon the number of refugees crossing into Europe “will reach millions” unless the European Union takes responsibility for the crisis, Greece continued efforts to fortify its borders and diplomatic initiatives to tackle what it calls an “asymmetrical threat.” On the diplomatic front, the government’s initiatives have led to a planned visit on Tuesday to the Greek-Turkish border in Evros by the presidents of the European Commission, Council and Parliament – Ursula von der Leyen, Charles Michel and David Sassoli – accompanied by Prime Minister Kyriakos Mitsotakis. Even though Athens believes the visits send a powerful message, it is expecting practical support from its partners, stressing that Greece’s borders with Turkey are also European.


On Sunday, Greece announced emergency measures to tackle the crisis, including a further tightening of border controls to the maximum level, a temporary one-month suspension of asylum applications and the immediate return of undocumented migrants to their country of origin. According to the International Organization for Migration (IOM), the number of refugees and migrants at the Greek border is estimated at around 13,000 people and tensions are rising as they try to push through. Tensions were also running high on the islands following the arrival over the weekend of around 1,000 refugees and migrants, with locals trying to prevent one smuggling boat from docking. A child died when one vessel capsized.

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Yeah, you’re really helping.

UN Says Greece Has No Right To Stop Accepting Asylum Requests (K.)

The United Nation’s refugee agency said on Monday that Greece had no right to stop accepting asylum applications as Athens struggled with a sudden increase of arrivals at its border of Middle East refugees and migrants from Turkey. Greek Prime Minister Kyriakos Mitsotakis said on Sunday his country would not be accepting any new asylum requests for a month after two days of clashes between border police and thousands of people seeking to enter the EU from Turkey. “It is important that the authorities refrain from any measures that might increase the suffering of vulnerable people,” UNHCR said in a statement.


“All states have a right to control their borders and manage irregular movements, but at the same time should refrain from the use of excessive or disproportionate force and maintain systems for handling asylum requests in an orderly manner.” The UN agency said neither international nor EU law provided “any legal basis for the suspension of the reception of asylum applications.” Its statement came as the EU scrambled to help Greece police the frontier and sought to put pressure on Turkey to go back to preventing refugees and migrants stranded on its territory from seeking to reach Europe.

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“I am as confident as a psychiatrist can ever be that, if extradition to the United States were to become imminent, Mr Assange would find a way of suiciding.”

The Armoured Glass Box is an Instrument of Torture (Craig Murray)

The defence was impeded by their inability to communicate confidentially with their client during proceedings. In the next stage of trial, where witnesses were being examined, timely communication was essential. Furthermore they could only talk with him through the slit in the glass within the hearing of the private company security officers who were guarding him (it was clarified they were Serco, not Group 4 as Baraitser had said the previous day), and in the presence of microphones. Baraitser became ill-tempered at this point and spoke with a real edge to her voice. “Who are those people behind you in the back row?” she asked Summers sarcastically – a question to which she very well knew the answer. Summers replied that they were part of the defence legal team.


Baraitser said that Assange could contact them if he had a point to pass on. Summers replied that there was an aisle and a low wall between the glass box and their position, and all Assange could see over the wall was the top of the back of their heads. Baraitser said she had seen Assange call out. Summers said yelling across the courtroom was neither confidential nor satisfactory. This is the photo taken illegally (not by me) of Assange in the court. If you look carefully, you can see there is a passageway and a low wooden wall between him and the back row of lawyers. You can see one of the two Serco prison officers guarding him inside the box. Baraitser said Assange could pass notes, and she had witnessed notes being passed by him. Summers replied that the court officers had now banned the passing of notes.

Baraitser said they could take this up with Serco, it was a matter for the prison authorities. Summers asserted that, contrary to Baraitser’s statement the previous day, she did indeed have jurisdiction on the matter of releasing Assange from the dock. Baraitser intervened to say that she now accepted that. Summers then said that he had produced a number of authorities to show that Baraitser had also been wrong to say that to be in custody could only mean to be in the dock. You could be in custody anywhere within the precincts of the court, or indeed outside. Baraitser became very annoyed by this and stated she had only said that delivery to the custody of the court must equal delivery to the dock. To which Summers replied memorably, now very cross “Well, that’s wrong too, and has been wrong these last eight years.”


I have been wondering why it is so essential to the British government to keep Assange in that box, unable to hear proceedings or instruct his lawyers in reaction to evidence, even when counsel for the US Government stated they had no objection to Assange sitting in the well of the court. The answer lies in the psychiatric assessment of Assange given to the court by the extremely distinguished Professor Michael Kopelman [..] : “Mr Assange shows virtually all the risk factors which researchers from Oxford have described in prisoners who either suicide or make lethal attempts. … I am as confident as a psychiatrist can ever be that, if extradition to the United States were to become imminent, Mr Assange would find a way of suiciding.”

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Automatic Earth commenter/contributor Dr. John Day telling Tulsi Gabbard yesterday at a townhall in Austin, Texas that the US needs to purchase 6 billion doses of chloroquine phosphate to treat everybody (assuming a high infection rate, eventually).

 

 

 

If you read us, please support us. It’s the only way the Automatic Earth can survive. Donate on Paypal and Patreon.

 

Mar 022020
 


John Vachon Big Four Cafe, Cairo, Illinois 1940

 

China Leaves Asymptomatic Patients off Coronavirus Infection Tally (Caixin)
Epidemic Won’t Spark Financial Crisis In China (Global Times)
CDC Retesting Patient After Testing Negative, Being Released (KSAT)
CDC Testing Limits May Have Delayed Coronavirus Response (HP)
US Agency Investigating Production Of Faulty Coronavirus Test Kits (R.)
Murder Probe Sought For South Korea Sect At Center Of Coronavirus Outbreak (R.)
China Gives Relief to Shield Trillions of Yuan in Bad Debt (BBG)
Australia Warns It Can’t Stop The Spread Of Coronavirus From Overseas (R.)
Indonesia Confirms First Cases, Linked To Japanese Citizen In Malaysia (SCMP)
Japan’s Factory Activity Shrinks At Fastest Pace Since 2016 (R.)
Buttigieg Drops Out Of Democratic Race Two Days Before Super Tuesday (R.)
Klobuchar Cancels Campaign Rally After Protests (Hill)
Tulsi Gabbard Urges Trump: Don’t Drag Us Into War With Russia (ZH)
Assange Enters The Kangaroo Court (MStar)
EU Accepts Greek Demand For Emergency Foreign Affairs Council (K.)

 

 

 

Cases 89,248 (+ 1,616 from yesterday’s 87,632)

Deaths 3,058 (+ 64 from yesterday’s 2,994)

 

Everyone just dances on. China pretends it’s fine, and the Global Times assures us there will be no financial crisis. As the US CDC is found painfully wanting on multiple fronts. As Super Tuesday draws near, Trump will be criticized heavily for the US response to COVID19, especially now the first US deaths are on the tally. But though he certainly stumbles his way awkwardly through, the CDC would be what it is no matter which party is in charge.

And while western governments, along with China, have no strong desire to perform the best testing they can, because it can only make them look worse, “newly infected” countries like Nigeria (190 million) and Indonesia (260 million), don’t have the desire, and not the means either. This will keep official infection numbers low(er), but does that mean we can all go visit without any worries?

 

From SCMP:

 

 

From Worldometer (Note: mortality rate fell to 6%):

 

 

A more complete pic of COVID2019.app:

 

 

 

 

“If you don’t have symptoms, it’s not an illness,” he said. “There’s no need to announce it.”

And at the same time, the first lung transplant:

Twitter: “Oh gosh – first lung transplant done for a #COVID19 patient. Hope only a fraction of the 20% severe cases ever need this. Though there is currently 50% 28-day mortality if someone enters ICU (based on China data). But what % or total infected will need ICU? Unclear.”

China Leaves Asymptomatic Patients off Coronavirus Infection Tally (Caixin)

China’s decision to exclude individuals who carry the new coronavirus but show no symptoms from the country’s public tally of infections has drawn debate over whether this approach obscures the scope of the epidemic, with a document received by Caixin showing a significant proportion of one province’s cases show no symptoms. Since early February, the National Health Commission (NHC) has concluded that “asymptomatic infected individuals” can infect others and demanded local authorities to report those cases. However, the commission has also decided not to include these people in its statistics for “confirmed cases” or indeed to release data on asymptomatic cases.

On Feb. 25, in Northeast China’s Heilongjiang province there were 104 asymptomatic infected individuals, according to a Feb. 26 Heilongjiang Provincial Center for Disease Control and Prevention document obtained by Caixin. That same day the province said it had 480 “confirmed cases,” a tally which did not include the 104 asymptomatic cases. In its Jan. 28 virus prevention and control plan, the NHC demanded the prompt detection and reporting of those with light or no symptoms. According to a document obtained by Caixin, the Heilongjiang CDC confirmed its first asymptomatic individual on Feb. 1 and asked the NHC for permission to leave the case off its public list of confirmed cases.

[..] two days after the fourth edition of the NHC’s Covid-19 guidelines released on Feb. 7 said asymptomatic cases should be reported separately and excluded from the confirmed case tally, Heilongjiang removed 13 asymptomatic infected individuals from its tally of “confirmed cases.” However, multiple studies from both Chinese and overseas researchers have been published, suggesting that individuals infected with Covid-19 can be contagious even if they do not feel ill.

In earlier guidelines, asymptomatic individuals were supposed to be observed and treated at home. But by the fifth edition of the NHC guidlines released Feb. 21, they had to undergo a 14-day quarantine as well as test negative in two separate nucleic acid tests before being released. Health authorities have also developed criteria to determine whether an asymptomatic individual is the source of infection in any given cluster. Nevertheless, at a Feb. 14 press conference, NHC deputy director Zeng Yixin said that the country would only publicize “suspected” and “confirmed cases.” “If you don’t have symptoms, it’s not an illness,” he said. “There’s no need to announce it.”

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The Party speaks. It’s not feeling well.

Epidemic Won’t Spark Financial Crisis In China (Global Times)

China is not facing a financial system crisis, despite mounting pressure from the coronavirus epidemic on the economy and global stock market routs, but further macro stabilizing measures, including more liquidity injections, might be necessary, analysts said on Sunday. Ominous signals have begun to suggest that the epidemic might have hit the Chinese economy harder than some had expected, which in turn has fueled speculation that China might face a financial crisis. On Saturday, official data showed that China’s manufacturing sector may have experienced a sharp downturn in February worse than during the global financial crisis in 2008.

The official manufacturing purchasing managers’ index (PMI) dropped to 35.7 in February, the lowest level on record, according to the National Bureau of Statistics (NBS). The non-manufacturing PMI plunged to 29.6, deep in contraction territory. The downbeat data followed hefty losses in the Chinese A-share market on Friday amid a worldwide stock market rout due to concerns over the coronavirus epidemic. The benchmark Shanghai Composite Index plummeted 3.71 percent on Friday to drop below the psychologically important level of 3,000. The index lost 4.87 percent for the week. Although the Chinese stock market fared better than Wall Street, where the Dow Jones Industrial Average lost 12 percent last week, concerns over a potential downtrend in the A-share market or even a broader financial crisis grew.

“Suggestions that China is facing risk of a financial crisis are just absurd,” Dong Dengxin, director of the Finance and Securities Institute at the Wuhan University of Science and Technology, told the Global Times on Sunday. “If anything, China’s A-share market is facing an upward trajectory given the fact that it has been at its historic lows and that the economic fundamentals have not changed.” [..] In light of moves by China’ s central bank to inject liquidity and local governments to support businesses, some argue the potential risks of a spike in non-performing loans among local governments could cause a financial crisis.

But Dong said that China’s government debt level remains significantly lower than those of developed countries and banks are among the world’s biggest and most regulated. “Everything is very much under control,” he said. China’s A-share market might be at the start of a bull run, according to Yang Delong, chief economist at Shenzhen-based First Seafront Fund. “US stocks have reached its top, whereas the A-share market is bottoming out. Therefore I think the A-share market will increase by 20 percent this year,” he wrote in a note sent to the Global Times on Sunday.

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The CDC is being exposed as a pretty incompetent entiry.

CDC Retesting Patient After Testing Negative, Being Released (KSAT)

A patient released from isolation in San Antonio on Saturday is being retested for the coronavirus at a local health facility, according to the Centers for Disease Control and Prevention. Officials say the patient met the criteria for release after testing negative for the virus twice. Both of the tests were administered more than 24 hours apart. However, the patient later returned to isolation after a pending lab test came up positive for the virus that causes COVID-19, according to the CDC. The patient was isolated when they were treated at the local medical facility for several weeks after returning from Wuhan, China, on a State Department chartered flight, the CDC says. Out of caution, the CDC says the individual was brought back into isolation at a local medical facility and is getting retested.


The patient did have contact with others while outside of isolation, and health officials are working to trace others that may have been exposed. Metro Health is working to track where the patient went, who they interacted with, the time frames they spent outside of the quarantined facility and who may have been exposed, officials say.“This is an unfolding situation with many unknowns. CDC is making decisions on a case-by-case basis using the best available science at the time. CDC’s priority is to protect both patients and communities,” said the CDC in part, in a press release. Several Texas officials are speaking out after the CDC’s announcement that a patient was released into San Antonio with possible coronavirus exposure. Mayor Ron Nirenberg says it’s unacceptable that CDC officials released the patient and allowed the public exposure.

Read more …

You could be minutes from death, but if you didn’t visit China or French kiss with someone who did, no tests for you.

CDC Testing Limits May Have Delayed Coronavirus Response (HP)

Genetic sequencing of two cases of the novel coronavirus in Washington suggests the disease had been circulating in the state for six weeks — but went undetected because of strict testing restrictions set by the Centers for Disease Control and Prevention, according to a scientist who compared the genetic fingerprints. The study of the coronavirus contracted by a high school student in Snohomish County north of Seattle links the illness to the very first COVID-19 case in the nation, a man who tested positive Jan. 19 after returning to his home in Snohomish county from China. He has since recovered, but the illness was passed on, undetected, via community transmission for “the past six weeks,” noted Trevor Bedford, an associate professor at the Fred Hutchinson Cancer Research Center and the University of Washington.

He attributed the lack of earlier detection of an “already substantial outbreak” to the CDC’s “narrow case definition requiring direct travel to China” (or contact with someone known to be ill with coronavirus) before people could be tested. [..] Besides restrictions until recently on when it could be used, the test created by the CDC in early February initially only worked predictably in a handful of labs. Early detection is critical so that people can begin treatment and be isolated before passing on the virus to someone else. As of Friday, fewer than 500 people had been tested in the U.S., according to the CDC, compared with countries like South Korea, where 65,000 have been tested.

[..] Dr. Jeff Duchin, public health officer for Seattle and King County, complained about the testing system Saturday when addressing the first coronavirus death in the nation in Kirkland, Washington. “Testing capacity is so limited,” he said at a press conference. The state public health lab only began testing for COVID-19 on Friday, but officials hope soon to be able to also rely on commercial and university labs. “If we had the ability to test earlier, I’m sure we would have identified patients earlier,” said Duchin. [..] To ease the testing logjam, the FDA announced Saturday that labs and hospitals across the nation will now be able to conduct the test for COVID-19 and won’t have to wait for results from the CDC.

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You can always export them to Africa.

US Agency Investigating Production Of Faulty Coronavirus Test Kits (R.)

The U.S. Department of Health and Human Services confirmed on Sunday that it is investigating a manufacturing defect in some initial coronavirus test kits that prompted some states to seek emergency approval to use their own test kits. On Saturday, New York Governor Andrew Cuomo said his state would immediately begin using its own test kit developed in-state after asking the U.S. Food and Drug Administration (FDA) on Friday for permission to do so. The FDA said on Saturday it would allow some laboratories to immediately use tests they have developed and validated to achieve more rapid testing capacity for the coronavirus. On Sunday, New York confirmed its first case of coronavirus.


FDA Commissioner Stephen Hahn said in a statement on Sunday that “upon learning about the test issue from CDC (the Centers for Disease Control and Prevention), FDA worked with CDC to determine that problems with certain test components were due to a manufacturing issue. We worked hand in hand with CDC to resolve the issues with manufacturing.” Health and Human Services (HHS) Secretary Alex Azar told ABC’s “This Week” on Sunday the United States has 75,000 test kits on hand “and over the next week that will expand radically.” He said over 3,600 people in the United States have been tested to date. Hahn added that the “FDA has confidence in the design and current manufacturing of the test that already have and are continuing to be distributed. These tests have passed extensive quality control procedures.”

Read more …

Also for Chinese government, western governments? They also hid facts.

As for Seoul, they tested only a few 1000 of the 317,320 Shincheonji members and “trainees”..

Murder Probe Sought For South Korea Sect At Center Of Coronavirus Outbreak (R.)

The government of Seoul asked for a murder investigation into leaders of a Christian sect at the center of the country’s deadly coronavirus outbreak, saying the church was liable for its refusal to cooperate with efforts to stop the disease. A large majority of the more than 4,000 confirmed cases of the South Korean outbreak, the largest outside China and still growing, have been linked to the Shincheonji Church of Jesus, a secretive movement that reveres founder Lee Man-hee. Park Won-soon, mayor of Seoul, said if Lee and other leaders of the church had cooperated, effective preventive measures could have saved those who later died of the virus. “The situation is this serious and urgent, but where are the leaders of the Shincheonji, including Lee Man-hee, the chief director of this crisis?” Park said in a post on his Facebook page late on Sunday.


Seoul’s city government said in a separate statement that it had filed a criminal complaint with the Seoul Central District Prosecutors’ Office, asking for an investigation of Lee and 12 others on charges of murder and disease control act violations. The prosecutors’ office said it had received the complaint and was reviewing it. Health authorities said the vast majority of the 3,000 cases confirmed in Daegu, another Korean city, were linked to a branch of the church there, where a person who had tested positive in February attended services twice. [..] Health authorities said they have obtained a list of 317,320 Shincheonji members and “trainees”, but have been told by some local governments that it was not exhaustive.

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When money is your only answer to all questions.

China Gives Relief to Shield Trillions of Yuan in Bad Debt (BBG)

China’s financial regulators will allow the nation’s lenders to delay recognizing bad loans from smaller businesses reeling from the deadly coronavirus outbreak, giving temporary reprieve to trillions of yuan of debt. Qualified small- and medium-sized businesses nationwide with principal or interest due between Jan. 25 and June 30 can apply for a delay to the end of the second quarter, the China Banking and Insurance Regulatory said in a joint statement with the central bank on Sunday. In Hubei province, the center of the outbreak, the waiver applies to all companies, including large firms, according to the statement. Chinese banks are taking extraordinary steps to avoid recognizing bad loans, seeking to protect themselves and cash-strapped borrowers from the economic fallout of the epidemic, as Bloomberg News reported last week.


Regulators told lenders not to downgrade loans with missed payments or report delinquencies to the country’s centralized credit-scoring system before the end of June, according to the statement. The push by banks and regulators to ease the wave of debt going bad is part of a broader effort by President Xi Jinping’s government to shore up the Chinese economy, which some forecasters predict may suffer a rare quarter-on-quarter contraction to start 2020. Gross domestic product may shrink by 2.5% in the first quarter, Nomura Holdings Inc. economists led by Lu Ting said in a report on Saturday, after the country’s manufacturing sector reported record-low activity in February. In addition to pumping billions of yuan into the banking system to make it easier for lenders to extend credit, authorities have cut interest rates, reduced taxes and pledged to adopt more “proactive” fiscal policies.

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It’s a choice, a trade-off. Close the borders OR get infected.

Australia Warns It Can’t Stop The Spread Of Coronavirus From Overseas (R.)

Australia’s chief medical officer said on Monday it was no longer possible to completely prevent people with the coronavirus from entering the country, citing concerns about outbreaks in Japan and South Korea. Australia, one of the first countries to put restrictions on its borders in a bid to limit the spread of the virus, confirmed its first death from the disease on Sunday. “It is no longer possible to absolutely prevent new cases coming in,” Brendan Murphy, Australia’s Chief Medical Officer, told reporters in Canberra. “We have got concerns about Japan and South Korea. They are working hard to control their outbreaks but we are still concerned that people in those countries and other high risk countries may present with an infection.”


The chief medical officer’s comments came as Australian officials confirmed the country’s 30th case of coronavirus, a 40-year old man who arrived in Australia’s second most populated city, Melbourne from Iran. He later travelled to Tasmania. Meanwhile, Australia named the 78-year old man who became the country’s first person to die from coronavirus as James Kwan. He was a passenger on the Diamond Princess ship that was held off Japan’s coast for weeks. Kwan and his wife, who also has the virus, were transferred back to Australia for treatment. Australia barred entry from Feb. 1 to any foreigners who had travelled through China in the two weeks prior to arriving in Australia. It extended that ban to Iran on Sunday. Both bans are in force until at least March 7. Australian citizens and permanent residents are exempted.

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That country of 260 million with a very sparse health care system. That has neither the desire nor the means to count its victims.

Indonesia Confirms First Cases, Linked To Japanese Citizen In Malaysia (SCMP)

Two Indonesians have tested positive for the coronavirus after being in contact with an infected Japanese national, Indonesian President Joko Widodo revealed on Monday, marking the first confirmed cases in the world’s fourth most populous country. The two had been hospitalised in Jakarta, Widodo told reporters at the presidential palace in the capital. The president said a 64-year-old woman and her 31-year-old daughter had tested positive after being in contact with a Japanese national who lived in Malaysia and was found to have the virus after returning from a trip to Indonesia. Widodo said an Indonesian medical team had traced the movements of the Japanese visitor before uncovering the cases.


“After checks, they were in a sick state. This morning I got a report that the mother and the daughter tested positive for coronavirus,” said Widodo, who said they were being treated at Jakarta’s Sulianti Saroso infectious diseases hospital. Health Minister Terawan Agus Putranto told reporters the Japanese visitor was a friend of the two women’s family and had visited their house. He said authorities were checking who else the Japanese visitor may have come into contact with. The confirmation of the first cases of coronavirus came after authorities had defended their screening processes, with some medical experts raising concerns of a lack of vigilance and a risk of undetected cases in the Southeast Asian country of more than 260 million people.

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Who could have predicted that?

Japan’s Factory Activity Shrinks At Fastest Pace Since 2016 (R.)

Japan’s factory activity was hit by its sharpest contraction in nearly four years in February, raising a red flag over manufacturing in the world’s third-largest economy as the impact from the coronavirus outbreak spreads. The manufacturing slowdown offers the clearest evidence yet of the epidemic’s damaging effects on global growth and businesses and is likely to ramp up pressure on Japanese policymakers to boost growth. The au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) slipped to a seasonally-adjusted 47.8 from a final 48.8 in the previous month. The February reading was its lowest since May 2016.


The index stayed below the 50.0 threshold that separates contraction from expansion for a 10th month, marking the longest stretch since a 16-month run to June 2009 during the global financial crisis. “Near-term prospects for Japan’s industrial sector appear very bleak,” said Joe Hayes, economist at IHS Markit, which compiles the survey. “Weakness was driven by the demand-side in a broad-based fashion. Consumer, intermediate and capital goods producers recorded faster declines in demand and overall order books fell at the sharpest rate in over seven years.” The pressure on the world’s third-largest economy has built rapidly during the past weeks as the virus outbreak is dealing a sharp blow to China’s economy, Asia’s biggest.

Read more …

Good DNC boy. All against Bernie.

Buttigieg Drops Out Of Democratic Race Two Days Before Super Tuesday (R.)

Pete Buttigieg dropped out of the race for the Democratic presidential nomination on Sunday, saying he no longer saw a chance of winning, the day after fellow moderate Joe Biden won a big victory in South Carolina. The move shook up the Democratic contest to pick a candidate to take on Republican President Donald Trump in November’s election and came two days before the 14-state Super Tuesday nominating contests that will offer the biggest electoral prize so far. Buttigieg, a 38-year-old former mayor of South Bend, Indiana, who gained early momentum after he narrowly won the Iowa caucuses last month and finished a close second in New Hampshire, had sought to unite Democrats, independents and moderate Republican voters.


But he finished a distant third in Nevada and fourth in South Carolina. “Today is a moment of truth … the truth is that the path has narrowed to a close for our candidacy if not for our cause,” Buttigieg told supporters in South Bend on Sunday night. “Our goal has always been to unify Americans to help defeat Donald Trump and to win the era for our values.” [..] An adviser told Reuters that Buttigieg was dropping out to avoid helping the odds of front-runner Bernie Sanders, a senator from Vermont and self-described democratic socialist. “Pete was not going to play the role of spoiler,” said the adviser, who spoke on condition of anonymity. “Could he have went through Super Tuesday and beyond? Sure. But this was not a vanity exercise.”

Read more …

Klobuchar out today? Place your bets. She has zero chance, but can take away votes from Sleepy Joe. They’ll keep Warren in, so she can dig into Bernie’s support.

And as all the TV clowns talk about Bernie’s support among black voters, check this:

“Klobuchar was the lead attorney in the county at the time of his initial trial, and she later denied a request for him to attend his mother’s funeral after he was imprisoned.”

Klobuchar Cancels Campaign Rally After Protests (Hill)

Sen. Amy Klobuchar (D-Minn.) canceled a campaign rally in St. Louis Park, Minn., on Sunday after protesters reportedly affiliated with Black Lives Matter and other civil rights groups took the stage at her event for over an hour. In a statement obtained by The New York Times, Klobuchar’s campaign said the senator offered to meet with demonstrators in exchange for them exiting the stage and allowing her rally to proceed, adding that the protesters initially agreed to such terms before reportedly backing out and refusing to leave the stage.

“The campaign offered a meeting with the senator if they would leave the stage after being on the stage for more than an hour,” a spokesperson for the Klobuchar campaign told the Times. “After initially agreeing, the group backed out, and we are now canceling the event.” The campaign did not immediately return a request for further comment from The Hill. Klobuchar has faced calls to suspend her campaign from Black Lives Matter and NAACP activists over her role in the criminal prosecution of Myon Burrell, an African American man who was convicted of murder and sentenced to life in prison while still a teenager. Klobuchar was the lead attorney in the county at the time of his initial trial, and she later denied a request for him to attend his mother’s funeral after he was imprisoned.

Burrell’s case has become a point of criticism for Klobuchar’s campaign, as many including the victim’s father believe he may have been wrongfully convicted. “What I need people to understand is this isn’t about partisanship and this isn’t about politics,” said Leslie Redmond, president of the Minneapolis NAACP, in January. “This is about justice. … This isn’t just a situation that happened to the Central Park Five alone. This is a situation that happens all around America. This is a situation that happens right here in Minnesota.” “Young people, young adults were given life sentences to rot away in prison,” he added at the time. “This benefits no one. However, it does benefit politicians who use the criminal justice system to benefit their political careers. Enough is enough.”

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But Tulsi is still running.

Tulsi Gabbard Urges Trump: Don’t Drag Us Into War With Russia (ZH)

Tulsi Gabbard has once again gone on the offensive, skewering Washington mainstream foreign policy and the Trump administration’s refusal to stand up to “dictator” Recep Tayyip Erdogan. Trump reportedly told Erdogan in a phone call last week as the Idlib crisis escalates, now in an open state of war between the Turkish and Syrian armies, and with Russia supporting the latter, that the US “reaffirmed” its support for Turkey in Idlib. Ankara is now demanding greater support from NATO as well, after Russian jets were widely believed behind last Thursday’s massive air strike which killed 33 Turkish soldiers.


Congresswoman and Democratic presidential hopeful Gabbard attacked this stance in a weekend video statement, urging Trump instead to make clear that “the United States will not be dragged into a war with Russia by the aggressive Islamist expansionist dictator of Turkey via NATO.” She also slammed the mainstream media’s efforts to renew holding up al-Qaeda terrorists on the ground in Idlib as mere “rebels” and “freedom fighters” — saying it’s a disgrace to men and women in uniform who signed up to fight terrorists in the wake of 9/11. “Turkey’s been supporting ISIS and al-Qaeda terrorists from behind the scenes for years,” she pointed out. “Turkey’s Erdogan wants to create an Islamist caliphate in Syria, reestablish the Islamist Ottoman Empire, and is working with al-Qaeda and other terrorists to achieve his goal.” “He wants to be the caliph,” she added, explaining further he’s not a “friend” of America, but remains one of the most dangerous dictators in the world.

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A kangaroo court in a banana republic.

Assange Enters The Kangaroo Court (MStar)

The most visually striking aspect of the Woolwich courtroom is where Assange sits — in a box covered by bullet-proof glass. This obviously unnecessary “security” measure was aimed at portraying Assange as a dangerous, violent terrorist who must be restrained at all times. Not only was the bullet-proof box dehumanising and degrading, it also made it impossible for Assange to participate in his own defence — a basic principle of due process. Assange could barely even hear the proceedings, let alone communicate with his legal team. Any communications that did occur in the box were not confidential since he was flanked at all times by at least one security guard. On Wednesday, Assange finally had enough. He stood up and began to address the judge, requesting he be permitted to properly communicate with his own lawyers.

The judge cut him off and sent the court into recess rather than allow him to speak. When the court reconvened, Assange’s lawyer formally requested Assange be permitted to sit with his legal team — a position that astonishingly was supported by the lawyer for the prosecution, who apparently found the whole set-up so gross as to discredit the entire proceeding. Yet still, the judge would not relent and Assange remained caged like an animal. However the abuse in the courtroom pales in comparison to the abuse behind closed doors in Belmarsh prison. The night after the trial opened, prison authorities relentlessly harassed Assange. He was shuffled from room to room all night, stripped naked and handcuffed multiple times throughout the ordeal. His legal papers were also confiscated.

When the defence lawyers complained the following day in court, the judge shrugged her shoulders and said that she had no authority over the prison administration who subjected him to such humiliation. The years of suffering Assange has endured while being persecuted by the US, British and other governments is evident simply from his physical appearance. Assange was clearly exhausted in the courtroom, sometimes slumped over. Even before being subjected to nearly a year of HMP Belmarsh, Assange had to deal with the psychological torment of nearly seven years’ confinement in the Ecuadorian Embassy. At the same time it is clear he still has the will to fight and has not compromised his principles an inch. The trial resumes in May, and will likely be followed by an extensive series of appeals.

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The pace the EU moves at. As Greece’s borders are being overrun. Erdogan is to visit Putin on Thursday.

Greece swears it won’t let the “migrants” enter, which Erdogan has selected for women and children (photo-ops) and militant youth (severity).

EU Accepts Greek Demand For Emergency Foreign Affairs Council (K.)

Josep Borrell Fontelles, the European Union’s High Representative for Foreign Affairs and Security Policy, has convened an extraordinary Foreign Council for next week on developments in Syria and the ensuing migration emergency, at the request of Greek Foreign Minister Nikos Dendias. Dendias had formally requested an extraordinary meeting Saturday. In his statement, Borrell says that the EU-Turkey agreement on repatriation of refugees needs to be upheld and confirms EU supports Greece and Bulgaria in addressing the migration issue. Borrell’s statement:


“The ongoing renewed fighting in and around Idlib represents a serious threat to international peace and security. It is causing an untold human suffering among the population, and having a grave impact on the region and beyond. The European Union needs to redouble efforts to address this terrible human crisis with all the means at its disposal. I am therefore calling for an extraordinary meeting of the Foreign Affairs Council next week to discuss the unfolding situation, in particular at the request of the Minister of Foreign Affairs of Greece. Over the past days, I have been in contact with key actors. I have called for an immediate de-escalation and for a lasting ceasefire, deplored the loss of lives, and offered EU support to mitigate the consequences of the crisis. There is only a political solution to this crisis.

Read more …

 

 

 

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Feb 072020
 
 February 7, 2020  Posted by at 10:28 am Finance Tagged with: , , , , , , , , , , , , , , ,  22 Responses »


Marjory Collins “Crowds at Pennsylvania Station, New York” Aug 1942

 

China Reports 73 New Deaths From Coronavirus, 3,143 New Cases (SCMP)
Trump Expresses Confidence In China’s Confronting Its Coronavirus Outbreak (R.)
Texas Congresswoman Says Russia Responsible For Iowa Caucus Mess (WE)
The GIGO Impeachment (Turley)
Russian, Turkish Military Among 100s Killed & Injured In Idlib Terrorism (RT)
UK Town Halls Told To Fly Union Jack For Prince Andrew’s Birthday (Ind.)
Boeing’s Fraying 737 MAX Suppliers See Capacity Crunch (R.)
Ohio Pension System Slashes Health-Care Benefits To Stave Off Insolvency (ZH)
Interest Rate Controls Could Reduce Real Per Capita Growth (IMF)
Encourage Banks To Tap Discount Window To Prevent Repo Freeze – Quarles (MW)
End of QE-4: Fed’s Repos Drop Below Oct 2 Level, T-Bills Balloon (WS)
Seven In 10 Greeks Threatened By Poverty (K.)
Bumblebee Survival Chances In EU, US Drop 30% In Single Generation (Hill)
Can We Have Prosperity Without Growth? (New Yorker)
Canada To Aid Alberta As Deadline For Massive Oil Sands Project Nears (R.)

 

I collected so many “corona”-related articles over the past 24 hours, I’ll do a separate thread with them, because this one would get too long. It’ll be up in a few hours.

China is making an effort to make it seem like they have things under control to the extent that numbers are rising less. Don’t trust them. For one thing, it’s not reflected at all in this graph. For another, Xi is real anxious to get the economy restarted. But that’s not possible while the lockdowns remain. Nice quote I heard: if even just 1% of your car parts are from China, and you can’t get them anymore, you can’t build a car.

 

 

Asking myself: why are there practically no children infected? Does anyone know?

Numbers today:

• China reports 73 new deaths from coronavirus and 3,143 new cases (from 3,797 yesterday)
• Hubei province reports 69 new deaths and confirms 2,447 new cases
• 185,555 people under medical observation, down from 186,354 yesterday
• Japan says 41 new infections on board Yokohama cruiseliner, total now 61 out of 273 tested

 

 

 

Most interesting here is XI: “We are fully confident and capable of fighting the epidemic. The long-term trend of China’s economic development will not change.”

China Reports 73 New Deaths From Coronavirus, 3,143 New Cases (SCMP)

Health authorities in China pegged deaths caused by the novel coronavirus epidemic on Thursday at 73, with 69 in Hubei province, according to official figures released early Friday. The updated numbers raise the death toll in mainland China to 636. Newly confirmed cases rose by 3,143, a second consecutive daily drop, bringing the total to 31,161 cases in the country, according to data released on Friday morning by China’s National Health Commission (NHC). Most the deaths came from Hubei province, epicentre of the outbreak, where 69 new fatalities from the epidemic were reported on Thursday, one less fatality compared with the day before. The total death toll in Hubei rose to 618, the province’s health commission said.


[..] Chinese President Xi Jinping told his US counterpart Donald Trump on Friday that China’s economic development would not be affected by the outbreak, according to CCTV, China’s state broadcaster. CCTV reported that, in a phone conversation with Trump, Xi said the Chinese government and people had put their fullest efforts into containing the outbreak since it had started. “We have adopted the most comprehensive and strictest prevention and control measures through mobilising and rapid responses. We have declared a people’s war against the epidemic through prevention and control,” Xi was quoted as saying. “We are fully confident and capable of fighting the epidemic. The long-term trend of China’s economic development will not change.”

Read more …

After closing the borders.

Trump Expresses Confidence In China’s Confronting Its Coronavirus Outbreak (R.)

U.S. President Donald Trump expressed confidence in China’s strength and resilience in confronting its coronavirus outbreak during a conversation with President Xi Jinping on Thursday, a White House spokesman said. The two leaders agreed to continue extensive communication and cooperation between both sides, the spokesman, Judd Deere, added. Trump and Xi also reaffirmed their commitment to implementing Phase 1 of the trade deal between the United States and China, he added.

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Honest question: what do you think is more dangerous, RussiaRussiaRussia or the coronavirus?

Texas Congresswoman Says Russia Responsible For Iowa Caucus Mess (WE)

Rep. Sheila Jackson Lee, a Texas Democrat, suggested during an FBI oversight hearing on Wednesday that Russia is responsible for the vote-reporting issues from Tuesday’s Iowa caucuses. “I hope that the Iowa Democrats will ask for an FBI investigation on the app,” the Texas Democrat told FBI Director Christopher Wray. “I believe that Russia has been engaged in and interfering with a number of our elections dealing with the 2016 election.” Wray responded by reassuring Jackson Lee that the FBI shares her concern about Russian interference. “Certainly, we are also concerned about potential Russian interference with our elections,” Wray said. “That’s why I created the foreign influence task force, which is acutely focused on that topic among other nation-states that are attempting to influence our elections.”


Democrats have faced criticism for not properly testing the voting system in Iowa, which includes an app the Iowa Democratic Party spent $60,000 to implement. “How can anyone trust you now?” a reporter yelled at the chairman of the state’s Democratic Party after reporting issues had still not been cleared up the day after voters caucused. An official winner has still not been announced as of Thursday evening. Democratic National Committee Chairman Tom Perez expressed his frustration on Thursday by calling for a recanvassing. “Enough is enough. In light of the problems that have emerged in the implementation of the delegate selection plan and in order to assure public confidence in the results, I am calling on the Iowa Democratic Party to immediately begin a recanvass.”

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Starting to feel Turley is writing more than he should.

The GIGO Impeachment (Turley)

Every line of work — from law to carpentry to software — has its own house rule about how bad results come from bad beginnings. There is even an initialism for this: GIGO, or garbage in, garbage out. Unless senators use their closing arguments this week to clarify that they are not endorsing either the prosecution or defense premises in reaching their verdicts, this will go down as the GIGO impeachment: precedent created by false assumptions in both houses. The House blundered in rushing an impeachment by Christmas rather than waiting a couple of months to submit a more complete case with added witnesses, court orders and evidence.

Instead of seeking to compel such direct evidence, the House pushed the vote to impeach on the basis of what my co-witnesses called by the Democrats admitted was an inferential case. There is no question that you can make an inferential case for impeachment, but it is the difference between a strong and a weak case. Rather than wait a couple months to strengthen that record (as I suggested at the Judiciary hearing), the House muscled through an impeachment after the shortest investigation of a president in history. The greatest concern in the House’s case was always the obstruction-of-Congress charge. The House declared that the administration’s failure to yield to demands for witnesses and evidence was by itself a high crime and misdemeanor.

The problem is that other administrations have raised the presidential immunity claims made by the Trump administration, and those claims were supported by legal opinions from the Justice Department. Both Richard M. Nixon and Bill Clinton were able to litigate their privilege claims all the way to the Supreme Court before facing impeachment. [..] This is a great case marred by passion and distortion. What is surprising is that both blunders were not “accidental” but premeditated by the two parties. It undermined the legitimacy and authenticity of the actions in both chambers. Even if the senators cannot agree on what is appropriate for impeachment, they should at least agree on what is not appropriate.

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Who supports those terrorists? Is it Turkey or the US?

Russian, Turkish Military Among 100s Killed & Injured In Idlib Terrorism (RT)

Terrorists took over the Idlib de-escalation zone and carried out thousands of attacks in the last two months, Russia’s Foreign Ministry said in a statement, adding that the West is portraying them as “moderate opposition.” Idlib governorate, the last stronghold of anti-government forces in Syria, saw a surge of violence by radical jihadists who have no desire for a peaceful resolution to the almost nine-year-long conflict, the Russian Foreign Ministry said on Thursday. Most of the attacks are carried out by Hayat Tahrir al-Sham, the latest iteration of al-Qaeda in Syria. The area was proclaimed a de-escalation zone under the Russia-Turkey agreements. In mid-January, Russian and Turkish forces tried to impose a ‘regime of silence’ there, but the attacks only escalated.


In December 2019 there were over 1,400 terrorist attacks staged from Idlib, with some operations seeing the use of armor and even tanks. The scale of violence remains high, with over 1,000 attacks recorded in the last two weeks of January. Hundreds of Syrian civilians and government troops have been killed, as well as “Russian and Turkish military specialists.” “The relocation of some armed groups out of the de-escalation zone to northeastern Syria and later to Libya has boosted the concentration of radical extremists over the boiling point,” the ministry said. This situation was recently discussed during an interview with Russian Foreign Minister Sergey Lavrov. He explained that Turkey needed to separate the armed opposition it is working with from the Hayat Tahrir al-Sham terrorists, saying that it has failed to do so.

Read more …

Retracted now, but still illustrative of post-Brexit Britain. Ruled by white guys from the 18th century.

UK Town Halls Told To Fly Union Jack For Prince Andrew’s Birthday (Ind.)

Town halls across the UK have been officially reminded they must fly the Union Jack flag on 19 February, to celebrate Prince Andrew’s 60th birthday. Politicians and public alike have slammed the Whitehall order, which they say puts protocol before principles. The prince is not currently performing royal duties amid an ongoing scandal over his friendship with millionaire paedophile Jeffrey Epstein, and claims that then-teenager Virginia Roberts was coerced into having sex with Prince Andrew in 2001 and 2002. He denies the allegation, saying he was at a birthday party at the Woking branch of Pizza Express on one of the nights the pair are said to have slept together.


However, the order is now likely to be withdrawn, after the prime minister’s spokesman described it as “an administrative email about a longstanding policy”. “I understand that DCMS [the digital, culture and media department] and the royal household are considering how the policy applies for changed circumstances, such as when members of the Royal Family have stepped back from public duties,” the spokesman said – in a clear hint it will be pulled. The instruction had drawn heavy criticism, Labour MP and deputy leadership candidate Ian Murray saying: “This protocol has to be binned given the allegations against the prince.” [..] ..a council source said: “It seems ridiculous. The government doesn’t appear to be noticing what has happened recently, or factoring in the mood of the nation.”

Read more …

And that’s before the virus halted 10s of 1000s of flights.

Boeing’s Fraying 737 MAX Suppliers See Capacity Crunch (R.)

Boeing Co suppliers are shedding jobs and capacity to cope with a halt in 737 MAX output, but while that staves off chaos, aerospace executives worry the industry might be unable to ramp factories quickly enough when the plane wins approval to fly again. Boeing, struggling to restore public confidence and recover from the biggest crisis since its founding in 1916, has halted production of the once fast-selling 737 MAX, which was grounded in March following two deadly crashes. As a result, industrial heavyweights like fuselage maker Spirit Aerosystems have already laid off workers. Now a cluster of other crucial companies small and big that forge metal, assemble and paint 737 MAX winglets, and build data systems have followed suit with no indication that Boeing will offer a lifeline, people familiar with the matter said.


Losing payments and workers in a tight labor market heaps pressure on Boeing’s U.S.-dominated 737 MAX supply chain, which involves hundreds of suppliers of more than half of the roughly 400,000 parts for each 737 built in the Seattle-area. “One of the main questions is how much capacity will be lost in the supply chain by the time production resumes at significant rates,” said an industry executive with knowledge of Boeing’s industrial network. Such concerns dominated the Pacific Northwest Aerospace Alliance conference north of Seattle this week, where some executives vented frustration over what they called Boeing’s lack of financial support. One executive from a supplier that derives a quarter of its business from the MAX said Boeing has treated his company like “a commodity” in a “transactional” relationship. He predicted Boeing would let some suppliers fail.

Read more …

The Fed’s (and ECB’s) ultra-low interest rates killed all pension systems. We just don’t -want to- realize it yet.

Ohio Pension System Slashes Health-Care Benefits To Stave Off Insolvency (ZH)

For the first time in years, a major public pension system has slashed benefits for retirees: The Ohio Public Employees’ Retirement System voted last week to cut health care benefits provided to the pension’s current and future retirees beginning in 2022 to try and prevent the fund from plunging into insolvency in the not-too-distant future. It’s just the latest reminder that America’s ‘pension timebomb’ isn’t as far off into the future as many retirees, investors and public officials would like to believe. According to Chief Investment Officer and the Bond Buyer, if these changes had not been enacted, the fund would run out of money in about 11 years, executive director Karen Carraher said during a board meeting. The measure passed by a 9-2 vote.

“There is no available funding for health care,” a report from the board said. “All of the employer contribution[s] must be allocated to pension funding until that funding improves. Based on current projections, no funding will be available for health care for 15 or more years.” The vote, which was undertaken after polls showed members would be open to the changes to preserve their retirement benefits, eliminated the system’s group health-care plan and replaced it with stipends that will defray costs for members who purchase plans on the state ObamaCare exchange. Beneficiaries will receive a wide variety of quantitative cuts, depending on their age of retirement, the year in which they retired, and the number of years working in the state.

“Surveys indicate members willing to accept changes/reductions in health care in the interest of preserving it,” the board’s report said. Nearly everyone in OPERS likely will be affected by these changes. The board’s vote constituted the elimination of the pension’s healthcare group plan, and replaced it with a stipend that will help supplement for some members the cost of a new healthcare plan on the marketplace. “Pre-Medicare group plan is unsustainable for OPERS and members as risk core and costs continue to increase,” the report said. The board “needs to reduce the cost of health care to preserve current health care trust fund until such time funding can resume.”

Read more …

Protesting what your own employer supports, and after the damage is done. Lovely.

Interest Rate Controls Could Reduce Real Per Capita Growth (IMF)

With the surge in public debt in the wake of the global financial crisis, financial repression—administrative restrictions on interest rates, credit allocation, capital movements, and other financial operations—has come back on the agenda. In our recent working paper, we argue that countries would be better-off without financial repression. By distorting market incentives and signals, financial repression induces losses from inefficiency and rent-seeking that are not easily quantified. Losses from rent-seeking might occur when administrative restrictions reduce access to certain financial services (such as credit) and improve the benefits (e.g., through low interest rates) for the selected users (at the cost of those excluded), and when these lead to wasteful competition among potential users for such gains.


Using an updated index of interest rate controls covering 90 countries over 45 years, this IMF staff study estimates that financial repression in the form of interest rate restrictions could reduce real per capita growth by about 0.4–0.7 percentage points, on average, with the effect being larger in countries with larger financial systems. The study also finds that a full liberalization of interest rates is necessary to significantly increase growth, and changes in interest rate restrictions short of full liberalization have a limited impact. The case studies suggest that interest rate controls may also disrupt financial stability and may reduce access to financing for small enterprises.

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The Fed should take care of people, not banks, by now. No body has ever been more destructive to a society.

Encourage Banks To Tap Discount Window To Prevent Repo Freeze – Quarles (MW)

The Federal Reserve could encourage banks to tap a key funding source that has been scarcely used since the financial crisis as a solution to the September dislocations in short-term lending markets, said Fed Vice Chairman for Supervision Randal Quarles on Thursday. Quarles said financial institutions should not be afraid of accessing the discount window, where banks have historically borrowed funds from the Fed in return for collateral during short-term liquidity shortages, in a speech held at an event by the Money Marketeers of New York University. The use of the window, however, has been stigmatized following the financial crisis amid worries that tapping the window could end up creating the perception that a bank was in precarious shape and could even be insolvent, precipitating further outflows.

He noticed that despite the equivalence between Treasurys and reserves as sources of capital that could meet the Fed’s liquidity coverage regulations, which are designed to ensure banks can meet sudden cash outflows, the reality was banks would prefer to hold cash reserves as banks could struggle to sell government bonds swiftly if it wanted to raise funds. Quarles’ remarks come as investors and bank executives have pointed to the preference of reserves over Treasurys as one factor that contributed to the surge in overnight repo rates in September, which briefly pushed the benchmark fed funds rates above its target range and raised questions whether the Fed was losing its grip on a key monetary policy tool.

Pushing banks to use the discount window during stress scenarios could help resolve the issues in money markets, as it gave banks sufficient time to sell high-quality capital like Treasurys and raise cash, diminishing the need to accrue reserves as a way of handling liquidity issues. “I think it is worth considering whether financial-system efficiency may be improved if reserves and Treasury securities’ liquidity characteristics were regarded as more similar than they are today,” said Quarles.

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Stupid games. Close it down or it will destroy you.

End of QE-4: Fed’s Repos Drop Below Oct 2 Level, T-Bills Balloon (WS)

Under these “repurchase agreements,” the Fed buys Treasury securities and mortgage-backed securities (MBS), guaranteed by Fannie Mae and Freddie Mac, or Ginnie Mae, whereby the counterparties commit to buy back these securities at a fixed price on a specific date, such as the next day (overnight repo) or a longer period, such as 14 days (term repo). Repos are by definition in-and-out transactions. When a repo matures and unwinds, the Fed gets its money back, and the repo on the Fed’s balance sheet goes to zero. By buying these securities, the Fed adds liquidity to the market for the duration of the repo. When the repo matures and unwinds, the liquidity gets drained from the market. When a new repo transaction occurs, the process starts over again, but with a different amount and with a different maturity date.

The Fed raised the interest rate at which it offered the repos – for borrowers, the money is getting a little less cheap. Through January 29, the Fed’s average offering rate for overnight repos was 1.55%. On January 30, this increased to 1.60%. And the rate for 14-day repos increased from 1.58% effective through January 29, to about 1.61%. The Fed had been the lender-of-first-resort in the repo market, by offering to lend at these low rates. By increasing the rate, the Fed is gradually making the cash it is handing out less cheap and less attractive compared to what banks might offer, and more of the demand is switching over to banks. Overnight repos have been undersubscribed all year, so there is less and less demand for them at this rate. But the 14-day term repos are often oversubscribed, meaning there is more demand for this two-week cash at 1.61% than the amount the Fed is offering.


[.] The Fed continued to increase its ballooning stash of T-bills (Treasuries with maturities of one year or less) at a rate of about $60 billion per month. To increase its stash, the Fed has to buy the amount of the maturing T-bills, and it has to buy the amounts needed to obtain the targeted increase of about $60 billion a month. Over the five weekly balance sheets since January 1, the Fed has added $78 billion in T-bills, and the total amount of T-bills on the Fed’s balance sheet has now ballooned to $248 billion: These T-bills are a major part of the Fed’s strategy to bail out the repo-market. The purpose is to increase Excess Reserves that banks have on deposit at the Fed. The Fed blames low Excess Reserves last September for the banks’ refusal to lend to the repo market, which then caused the repo market to blow out. So bringing up Excess Reserves to an “ample” level is the goal of these T-bill purchases.

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Greece is being hit hard by the virus’s effect on tourism. But that’s just the icing on the cake.

Seven In 10 Greeks Threatened By Poverty (K.)

Almost seven in every 10 Greeks are in a dire financial situation, according to data compiled by the Organization for Economic Cooperation and Development (OECD). The figures published in the bulletin of the Hellenic Federation of Enterprises (SEV) indicate that 68.3 percent of the population in Greece are living close to or below the poverty line, with 12.9 percent already having to make do with an income below that line and 55.4 percent categorized as vulnerable, as they too could drop below the poverty line if they miss out on three months’ salary.


The proportion of Greeks who are unable to make a decent living is far above the OECD average, which stands at 50.4 percent. In the United States, which also shows high levels of inequalities, the rate comes to 55.5 percent, while in Denmark it stands at 36.3 percent. Greece’s rate is second only to Latvia’s in the European Union. SEV commented that Greece is among the European countries with the greatest inequalities in incomes, a situation that has been aggravated by the financial crisis of the 2010s, which hurt lower incomes in particular.

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This sounds too bland for me. Been there done that. And I don’t think suggesting that it’s all climate change is all that smart. If only because it isn’t. Chemicals still play a major role.

Bumblebee Survival Chances In EU, US Drop 30% In Single Generation (Hill)

Bumblebee populations are in decline across North America and Europe due to hotter and more frequent extremes in temperatures, and climate change is playing a big role, according to a recently released study. The study by researchers from the University of Ottawa published in the journal Science examined changes in the populations of 66 bumble species across the two continents, and compared them with climate changes. The research found that in the course of one human generation, the likelihood of a bumblebee population surviving in a given place in North America and Europe declined by an average of over 30 percent.


“We’ve known for a while that climate change is related to the growing extinction risk that animals are facing around the world,” lead author of the study Peter Soroye said in a statement. “Bumblebees are the best pollinators we have in wild landscapes and the most effective pollinators for crops like tomato, squash, and berries,” Soroye said. “Our results show that we face a future with many less bumblebees and much less diversity, both in the outdoors and on our plates.” Researchers used data collected over a 115-year period showing where bumblebees have been found over the decades. They mapped the places the bees lived and how their distribution changed over time. They found the bees were disappearing in areas that had gotten hotter, and some are colonizing in new areas that were previously too cold.

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Ideal world: “There are very substantial reductions in unemployment, the human poverty index and the debt to GDP ratio. Greenhouse gas emissions are reduced by nearly 80%. This reduction results from the decline in GDP and a very substantial carbon tax.”

Can We Have Prosperity Without Growth? (New Yorker)

“If growth were to be abandoned as an objective of policy, democracy too would have to be abandoned,” Wilfred Beckerman, an Oxford economist, wrote in “In Defense of Economic Growth,” which appeared in 1974. “The costs of deliberate non-growth, in terms of the political and social transformation that would be required in society, are astronomical.” Beckerman was responding to the publication of “The Limits to Growth,” a widely read report by an international team of environmental scientists and other experts who warned that unrestrained G.D.P. growth would lead to disaster, as natural resources such as fossil fuels and industrial metals ran out. Beckerman said that the authors of “The Limits to Growth” had greatly underestimated the capacity of technology and the market system to produce a cleaner and less resource-intensive type of economic growth—the same argument that proponents of green growth make today.

Whether or not you share this optimism about technology, it’s clear that any comprehensive degrowth strategy would have to deal with distributional conflicts in the developed world and poverty in the developing world. As long as G.D.P. is steadily rising, all groups in society can, in theory, see their living standards rise at the same time. Beckerman argued that this was the key to avoiding such conflict. But, if growth were abandoned, helping the worst off would pit winners against losers. The fact that, in many Western countries over the past couple of decades, slower growth has been accompanied by rising political polarization suggests that Beckerman may have been on to something.

Some degrowth proponents say that distributional conflicts could be resolved through work-sharing and income transfers. A decade ago, Peter A. Victor, an emeritus professor of environmental economics at York University, in Toronto, built a computer model, since updated, to see what would happen to the Canadian economy under various scenarios. In a degrowth scenario, GDP per person was gradually reduced by roughly fifty per cent over thirty years, but offsetting policies—such as work-sharing, redistributive-income transfers, and adult-education programs—were also introduced. Reporting his results in a 2011 paper, Victor wrote, “There are very substantial reductions in unemployment, the human poverty index and the debt to GDP ratio. Greenhouse gas emissions are reduced by nearly 80%. This reduction results from the decline in GDP and a very substantial carbon tax.”

More recently, Kallis and other degrowthers have called for the introduction of a universal basic income, which would guarantee people some level of subsistence. Last year, when progressive Democrats unveiled their plan for a Green New Deal, aiming to create a zero-emission economy by 2050, it included a federal job guarantee; some backers also advocate a universal basic income. Yet Green New Deal proponents appear to be in favor of green growth rather than degrowth. Some sponsors of the plan have even argued that it would eventually pay for itself through economic growth.

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Upside down world. You now have to pay for what nature provides for free. Pay people not to pollute. You want less pollution? Sure, but it’s going to cost you… Nice place you got there. You wouldn’t want anything to happen to it, would you?

Canada To Aid Alberta As Deadline For Massive Oil Sands Project Nears (R.)

Canada is preparing an aid package for Alberta, heart of the country’s struggling oil industry, that would help dull the pain if it blocks an oil sands project that could create thousands of jobs, sources familiar with the matter said this week. Ottawa must decide by end-February if Teck Resources Ltd can build the C$20.6 billion ($15.7 billion) Frontier mine in northern Alberta despite climate and wildlife concerns. The decision is a major test of Prime Minister Justin Trudeau’s 2019 election pledge to put Canada on the path to reach net zero greenhouse gas emissions by 2050. Complicating the decision, unhappiness with the government’s energy and pipeline policy cost Trudeau’s Liberals all their Alberta seats in October 2019 elections.


“There will be a big fight inside cabinet over this,” said one source directly familiar the matter who requested anonymity given the sensitivity of the situation. “Rejecting Teck without providing Alberta something in return would be political suicide,” the source added. In Alberta, the project is considered essential for employment and growth. Teck says it would eventually create 7,000 jobs, although the company’s chief executive recently questioned whether it will ever be built. About 20 oil sands projects currently sit dormant despite receiving approval.

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Please donate what you can.

 

Feb 062020
 


Seattle, WA during Spanish Influenza. No ride on street cars without wearing a mask 1918/19

 

China May Delay Annual Meeting Of Parliament Due To Virus Outbreak (R.)
“Leaked” Infection Numbers Over 154,000; Deaths Approach 25,000 (NN)
Major Mainland Chinese Airlines Place All Foreign Pilots On Unpaid Leave (SCMP)
With Virus Deaths At 565 China Considers Trade Deal Disaster Clause (SCMP)
Chinese Scholar Blames Xi Jinping, CCP For Not Controlling Outbreak (SCMP)
Who Owns The Coronavirus Cure? (SCMP)
Pelosi Shreds Decades Of Tradition In Demonstrating Against Trump (Turley)
Buttigieg and Sanders Separated By Razor-Thin Margin In Iowa (Pol.)
Biden Vows To Press On Despite Iowa ‘Gut Punch’ (BBC)
In This Impeachment, People Only Heard What They Wanted To (Turley)
Nancy Pelosi Should Resign (Turley)
Bloomberg Surrogates Have Seats on DNC Rules Committees (Sludge)

 

 

There we go again:

• 565 deaths (up 72 from yesterday, biggest increase in official numbers to date)

• 28,339 cases (up 3,797 from yesterday’s 24,542, and yeserday’s rise of 3872)

• There are suggestions from China that the increase in cases is slowing, but that’s after yesterday’s record increase. We’ll see.

• At the same time, the increase in severe cases appears to be accelerating.

• 10 more infections on cruise ship off Yokohama

• One thing that’s certainly increasing is the skepticism about the official numbers.

 

 

 

Some interesting things in this article:

1) Officials returning to Beijing from other provinces after Lunar New Year are in 14-day quarantine. First time I see mandatory quarantines for Beijing.

2) There’s talk of delaying the (10+ days) National People’s Congress, which only starts on March 5.

Events have been cancelled as far out as April 15. That syncs quite well with what I said in my article The Big Lockdown.

China May Delay Annual Meeting Of Parliament Due To Virus Outbreak (R.)

China is considering delaying the annual meeting of its top legislative body, five people familiar with the matter said, as it grapples with a coronavirus epidemic that has forced drastic curtailment of travel and other activity to curb its spread. The National People’s Congress (NPC), made up of about 3,000 delegates, typically gathers for a session lasting at least 10 days in Beijing, beginning on March 5, to pass legislation and unveil key economic targets for the year. A postponement would be the first since China adopted the current March schedule in 1995 for the meeting of parliament. “The focus remains on taking steps forward towards meeting on schedule, but we are discussing a range of options as the (virus) situation doesn’t look likely to be contained by March,” a senior government official told Reuters, declining to be identified given the sensitivity of the matter.

“A delay is one of those options,” the official said. “It should come as no surprise given that we are in a very difficult time.” Many officials who would ordinarily be involved in preparation for the NPC are staying at home under 14-day mandatory quarantines after returning to Beijing from their home provinces following the Lunar New Year holidays. Central government officials in Beijing were told to resume work on Feb. 3. China has already postponed a high-level business event, the China Development Forum, which is usually held in late March, and the venue for the Canton Fair, a trade fair in the southern city of Guangzhou, has been suspended until further notice. The spring session of the trade fair was due to begin on April 15.

The NPC gathering is crucial this year, as it is set to ratify China’s first-ever civil code, a key milestone in President Xi Jinping’s legal reform effort. The NPC is also widely expected to discuss the months-long protests in Hong Kong, and to announce the annual economic growth target along with China’s defence budget. Under China’s constitution, a full plenary session of the NPC must be held every year. Chucheng Feng, a partner at Plenum, an independent research firm in Hong Kong, put the chance of a delay at just 10% because of the meeting’s political importance. “However, as the epidemic extends into February, the gathering of China’s entire political elite in a confined Great Hall of the People for over a week looks quite dangerous,” he said.

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Tyler broke the story. This is a handy write-up. It’s the smaller numbers above the big ones that all but prove we’re looking at an automatically updating database.

“Leaked” Infection Numbers Over 154,000; Deaths Approach 25,000 (NN)

Zero Hedge reported this morning, “As Taiwan [News] reports in a report first spotted by user @TheHKGroup, over the weekend, Tencent “seems to have inadvertently released what is potentially the actual number of infections and deaths, which were astronomically higher than official figures”, and were far closer to the catastrophic epidemic projections made by Jonathan Read.” According to official numbers from mainland China, which are updated daily, the current number of coronavirus infections is still under 25,000. Even then, it currently appears to be expanding at roughly 20% per 24-hour period, which represents a doubling of infections every 3.5 days (because the growth is compounded). (The left column is infections, and the right column is deaths.)

However, observers have noted that the official numbers reported by the communist Chinese government recently slipped into the “real numbers,” suddenly showing far higher confirmed infections and deaths: 154,024 infections and 24,589 deaths. Here’s a screen shot that was captured before the numbers reverted back to the lower, “official” numbers:The initial reaction from observers might be something along the lines of, “That was just a typo. So they corrected it.” However, there’s more to this story:

The higher numbers didn’t merely appear by themselves, out of context. Above each number is an “increase” factor that calculates how much larger today’s numbers are compared to yesterday’s numbers. For the 24,589 deaths, located at the lower right of this graphic, you’ll notice a number above it that states, “+1546.” The Chinese characters next to the numbers explain, “Compared to yesterday.” This means there is an underlying database that’s tracking daily numbers and being used to calculate the day-to-day differences. Similarly, there’s a number above the infection count of 154,023 that explains, “+20979.” This indicates the day-over-day increase from the previous day.


These numbers are clearly being automatically calculated, because if human error were to blame for typing the wrong numbers representing infections and deaths, it would be extremely unlikely that two more typos would coincidentally appear above those numbers, accidentally showing day-to-day increases that are consistent with a second set of numbers that are obviously being stored in parallel.

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The highest paid.

Major Mainland Chinese Airlines Place All Foreign Pilots On Unpaid Leave (SCMP)

All foreign pilots working for China Southern Airlines, Hainan Airlines, and a host of smaller mainland Chinese carriers have been placed on indefinite unpaid leave, according to multiple sources and a memo seen by the Post. With the coronavirus crisis forcing airlines to slash flights, several hundred foreign pilots have seemingly become surplus overnight, with some telling the Post they were considering their options amid the uncertainty now facing the world’s fastest-growing air market. “All foreign pilots, including those who have applied for leave exemption and those who have not, shall start a non-fixed term leave without pay as soon as possible,” a Tuesday memo to a batch of foreign pilots for China Southern, the country’s largest carrier, said.


Their grounding was effective that day, with the pilots told they would “return to work when [the] situation gets better.” Xiamen Airlines along with Hainan Airlines, Tianjin Airlines and Beijing Capital Airlines (BCA) – a trio of carriers owned by debt-laden HNA Group – have also placed foreign aircrew on unpaid leave, according to multiple sources. A source at BCA said their pilots had been offered the option of taking a significant pay cut that would bring them in line with their Chinese counterparts. China Eastern Airlines, meanwhile, was understood to have offered unpaid leave to its foreign pilots but had not made it mandatory at this point.

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The trade deal should be the least of Beijing’s worries by now.

Also, there are suggestions here that new cases rise less fast than before. But severe cases seem to rise.

With Virus Deaths At 565 China Considers Trade Deal Disaster Clause (SCMP)

Daily deaths caused by the new coronavirus have reached another record in China, with 73 fatalities confirmed in figures released by health authorities on Thursday morning, taking the death toll in mainland China to 563. The number of new infections in mainland China and Hubei province both fell on Wednesday compared to the day before, with 3,694 additional cases in the country and 2,987 in Hubei, national and provincial health authorities announced Thursday morning. The last time new infection figures dropped was January 28, with the daily increase in confirmed cases in China and Hubei steadily rising to a record high on Tuesday – 3,887 and 3,156, respectively. The deadly new coronavirus, which first emerged at the end of December, has killed at least 565 people worldwide, and sickened more than 28,000.

Mainland media on Tuesday reported that China may consider using a disaster-related clause in the phase one trade deal with the US because of the coronavirus outbreak. The Global Times, a nationalist newspaper affiliated to People’s Daily, cited an unnamed Chinese trade expert close to the government as saying a decision on launching a consultation with the US on the disaster clause was unlikely until the end of the first quarter. In a commentary published on Wednesday, the newspaper said that even if China was unable to reach the goal of increasing purchases from the US, there was still a sensible path forward without jeopardising the agreement and the negotiation process.

“The phase one agreement clearly stated that the two parties would consult with each other, ‘in the event that a natural disaster or other unforeseeable event outside the control of the parties delays a party from timely complying with its obligations under this agreement’. Without doubt the epidemic fits this scenario,” it said.

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Very popular man, I’m sure.

Chinese Scholar Blames Xi Jinping, CCP For Not Controlling Outbreak (SCMP)

A prominent Chinese scholar has published an article criticising the country’s leadership for failing to control the coronavirus outbreak that has infected almost 25,000 people around the world. Xu Zhangrun, a law professor at Tsinghua University in Beijing, who has been under close surveillance by the authorities, blamed Communist Party leaders for putting politics ahead of the people in his strongly worded piece, which was published on several overseas Chinese-language websites this week. “The political system has collapsed under the tyranny, and a governance system [made up] of bureaucrats, which has taken [the party] more than 30 years to build has floundered,” he said in a reference to how reform-minded leaders sought to rebuild the country and modernise the government after the death of Mao Zedong in 1976 and moved away from one-man rule to collective leadership.

Xu was suspended from teaching at Tsinghua University in 2018, after the publication of an article in which he criticised the decision by party leaders to lift the two-term limit for presidents, allowing Xi Jinping to remain in office beyond his second term, which ends in 2023. His latest criticism came as China’s leaders and law enforcement officials warned that internet controls must be tightened to prevent the spread of rumours and misinformation. On Monday, Xi chaired a meeting of the Politburo Standing Committee at which it was agreed that officials must maintain a tight grip on online media and direct public opinion about “winning the war over the virus”.

On Tuesday, the Ministry of Public Security held a meeting to remind all police officers that political security was of utmost importance in handling the outbreak. The police would “strike harshly” on any and all disruption by “hostile forces”, according to a report by Xinhua. One of Xu’s close friends confirmed on Wednesday that the professor had written the article. “He has already been stripped of his teaching position but he is likely to face more punishment this time,” said the person, who asked not to be named. “We are concerned they [the police] will take him away now that he has published this article.”

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There’s no such thing. Ridiculous headline.

Who Owns The Coronavirus Cure? (SCMP)

China has applied to patent a drug candidate being developed by Gilead Sciences as the government rushes to find the cure for the deadly coronavirus, a move that could raise questions on intellectual property and marketing rights. The state-backed Institute of Virology in Wuhan filed the patent for using remdesivir to fight the novel coronavirus on January 21, according to a statement posted on its website two weeks later on February 4. If approved, the drug will be used to facilitate its potential global market entry, it added. Studies have been conducted outside the human bodies and found that Gilead’s remdesivir compound and the off-patent chloroquine malaria drug are both “highly effective” in the control of coronavirus infection, the Wuhan institute and the Beijing Institute of Pharmacology and Toxicology said in a research published in Cell Research Journal.


“Since these compounds have [separately] been used in human patients with a safety track record and shown to be effective against various ailments, we suggest that they should be assessed in human patients suffering from the novel coronavirus disease,” the researchers wrote. Remdesivir has not been approved anywhere globally and has not been showed to be safe or effective for any use, Gilead’s chief medical officer Merdad Parsey said in a statement on Friday. The firm is working with Chinese health authorities to conduct a clinical trial on patients with pneumonia symptoms to test its safety and efficacy, it said. Past clinical data on other coronaviruses give it “hope,” it added.

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3 Turley articles today. One at the Hill, one at the BBC, one on his own site.

When The Dems lost to Trump in 2016, I said his role was to show how rotten the entire system is. And that they should take a good look at themselves, and try to figure out how that loss could ever come about. They never did, they only ever and exclusively looked at Trump, not themselves. This will not change as long as Hillary, Biden, Schiff et al lead the party.

Pelosi Shreds Decades Of Tradition In Demonstrating Against Trump (Turley)

Forty-four years ago, I walked on to the floor of the House of Representatives as a new Democratic 15-year-old page from Chicago. I stood and marveled at the beehive of activity on the floor in the People’s House. I can still remember that moment because it forged a bond and reverence that has never weakened for me. As a Democratic leadership page during the speakership of Tip O’Neill, I watched some of the most passionate and important debates of the generation from the Neutron Bomb to civil rights legislation to sweeping national park bills. The country was deeply divided, but both parties maintained the tradition of civility and decorum. I was struck how members, even in the heat of furious debates, would not attack each other by name and followed rigid principles of decorum.

They understood that they were the custodians of this institution and bore a duty to strengthen and pass along those traditions to the next generation. That is why I was (and remain) so offended by this display. I believe that President Trump himself is worthy of criticism for not shaking the hand of Pelosi. I also did not approve of aspects of his speech, including bestowing the Medal of Freedom on Rush Limbaugh in the gallery like a reality show surprise scene. There was much to object to in the address, but presidents often make comments that enrage or irritate speakers. However, none of that excuses Pelosi. At that moment, she represents the House as an institution — both Republicans and Democrats. Instead, she decided to become little more than a partisan troll from an elevated position.

The protests of the Democratic members also reached a new low for the House. Pelosi did not gavel out the protest. She seemed to join it. It was the tradition of the House that a speaker must remain in stone-faced neutrality no matter what comes off that podium. The tradition ended last night with one of the more shameful and inglorious moments of the House in its history. Rather than wait until she left the floor, she decided to demonstrate against the President as part of the State of the Union and from the Speaker’s chair. That made it a statement not of Pelosi but of the House. For those of us who truly love the House as an institution, it was one of the lowest moments to unfold on the floor. That is why I argue in the Hill that, if Pelosi does not apologize and agree to honor the principle of neutrality and civility at the State of the Union, she should resign as speaker.

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Tweet: “Buttigieg campaign manager’s wife owns the app company that ruined the Iowa caucuses, and his campaign DONATED $42,500.00 to that same company, Shadow Inc.”

The video is educative.

Buttigieg and Sanders Separated By Razor-Thin Margin In Iowa (Pol.)

Pete Buttigieg and Bernie Sanders are running neck and neck in the Iowa caucuses with almost all of the votes counted. Buttigieg has 26.23 percent of the state delegate count to 26.06 percent for Sanders with 97 percent of precincts reporting, making the race too close to call, according to The Associated Press. Elizabeth Warren is in third at 18 percent of the state delegate count, followed by Joe Biden at nearly 16 percent and Amy Klobuchar at 12 percent. After a technical meltdown created significant delays in the reporting of results in Monday’s caucuses, the Iowa Democratic Party released almost all of the remaining data Wednesday night. The latest results came as CNN wrapped up a series of town halls with candidates in New Hampshire.

Earlier results came Wednesday afternoon as Sanders, Warren and Klobuchar were in the Senate voting in President Donald Trump’s impeachment trial. The Republican-led chamber ultimately voted to acquit Trump on charges of abuse of power and obstruction of Congress as the numbers from Iowa were released. The latest results don’t change the order of the top five candidates, but they do show a razor-thin race at the top, where both the Buttigieg and Sanders campaigns have already declared themselves winners. Buttigieg insisted as early as Monday night that he was the clear victor, and he reportedly reassured supporters of that in a phone call on Wednesday. Sanders, meanwhile, told supporters in New Hampshire that he was leading in popular-vote totals and would come out of Iowa with the same number of national convention delegates as Buttigieg.


In terms of raw votes, Sanders leads in by more than 2,500 votes in the final alignment of Iowa caucus-goers, after supporters of non-viable candidates had the chance to realign at their precincts on Monday night.

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The entire impeachment trial was based on Trump wanting dirt on his “main political rival”. But Biden was never that. At the time of the Trump/Zelensky call, enough was known about Hunter/Burisma to realize Joe had no chance. And there was very little to suggest that Hunter/Burisma did not warrant an investigation. But Dems keep on saying it was “debunked”, without being able to suggest who did the debunking.

Biden Vows To Press On Despite Iowa ‘Gut Punch’ (BBC)

White House hopeful Joe Biden has called his poor performance in the Democrats’ first 2020 leadership vote, in Iowa’s caucuses, a “gut punch”. Mr Biden has come fourth, according to incomplete results from the election to pick a Democratic presidential nominee. “I’m not going to sugarcoat it,” Mr Biden said. “This isn’t the first time in my life I’ve been knocked down.” With most results declared in Monday’s glitch-plagued caucuses, Pete Buttigieg and Bernie Sanders are neck and neck. But Mr Biden told an audience in New Hampshire: “I’m not going anywhere.”

According to partial results from Iowa, the former US vice-president under Barack Obama has failed to pick up a single one of the delegates needed to clinch the Democratic White House nomination under America’s quirky political system. New Hampshire will be the next state to vote on 11 February in a string of nationwide votes culminating with the crowning of the party’s presidential candidate in July. Eleven contenders remain in the race to challenge President Donald Trump, a Republican, in November’s election.

[..] On Wednesday, Mr Biden sharpened his attacks, targeting the two Democratic front-runners by name. “We need a nominee who can help Democrats up and down the ticket,” Mr Biden said. He suggested that self-described democratic socialist Mr Sanders would be unelectable in a general election. Mr Biden also said it would be a “risk” to nominate 38-year-old Mr Buttigieg, “someone who’s never held an office higher than mayor of a town of 100,000 people”. Mr Buttigieg responded by saying “the bulk of the credit for the achievements of the Obama administration belong with President Obama”.

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As go strictly partisan battles.

In This Impeachment, People Only Heard What They Wanted To (Turley)

Recently, MSNBC host Lawrence O’Donnell declared that his show will not allow Trump supporters on as guests because all Trump supporters are “liars”. Likewise, Trump recently denounced Fox for even interviewing Democratic senators. When that is the state of our news, why should trials be any different? In our hardened political silos, even Framers are bit players in a crushingly formulaic play. Witnesses are as immaterial as facts when the public demands the same predictability from politicians that they do from cable hosts. We are all to blame. Politicians achieve their offices by saying what voters want to hear and today voters have little tolerance for hearing anything that contradicts their preset views of Trump.

As a result, the trial was pre-packed by popular demand. Speaker Nancy Pelosi even declared that Trump would “not be acquitted” even if he was acquitted. When the actual vote doesn’t matter, why should the actual testimony? Just as voters get the government that they deserve, they also get the impeachment trials that they demand. Watching on their favourite biased cable networks, voters raged at the bias of the opposing side in the impeachment as refusing to see the truth. Viewers thrilled as their side denounced their opponents and hissed when those opponents returned the criticism. The question and answer period even took on a crossfire format as senators followed up one side’s answer with a request for the other side to respond.

It was precisely the “fight, fight” tempo that has made cable news a goldmine. As the trial ends, perhaps justice has been done. The largely partisan vote showed that the trial could have had the sound turned off for the purposes of most viewers. We are left with our rage undiluted by reason. It really did not matter what anyone had to say because we were only hearing half of the trial anyway. It provided the perfect verdict on our times.

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Nancy should go home and be a grandma. She acted like a 5-year old during and after the SOTU. You don’t express your “hatred” of someone by imitating their behavior. Grace.

Nancy Pelosi Should Resign (Turley)

The House has its share of infamies, great and small, real and symbolic, and has been the scene of personal infamies from brawls to canings. But the conduct of Speaker Nancy Pelosi (D-Calif.) at the State of the Union address this week will go down as a day of infamy for the chamber as an institution. It has long been a tradition for House Speakers to remain stoic and neutral in listening to the address. However, Pelosi seemed to be intent on mocking President Trump from behind his back with sophomoric facial grimaces and head shaking, culminating in her ripping up a copy of his address.

Her drop the mic moment will have a lasting impact on the House. While many will celebrate her trolling of the president, she tore up something far more important than a speech. Pelosi has shredded decades of tradition, decorum and civility that the nation could use now more than ever. The House Speaker is more than a political partisan, particularly when carrying out functions such as the State of the Union address. A president appears in the House as a guest of both chambers of Congress. The House Speaker represents not her party or herself but the entirety of the chamber. At that moment, she must transcend her own political ambitions and loyalties.

Tensions for this address were high. The House impeachment managers sat as a group in front of the president as a reminder of the ongoing trial. That can be excused as a silent but pointed message from the Democrats. Trump hardly covered himself with glory by not shaking hands with Pelosi. I also strongly disliked elements of his address which bordered on “check under your seat” moments, and the awarding of conservative radio host Rush Limbaugh with the Presidential Medal of Freedom inside the House gallery like a Mardi Gras bead toss. However, if Trump made the State of the Union look like Oprah, then Pelosi made it look like Jerry Springer.

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Yeah. Buttigieg’s campaign manager is married to a woman who owns Shadow Inc. , which produced an app developed by among others Hillary’s campaign manager Robby Mook. And Bloomberg has his people inside the DNC. As does Biden, obviously. It smells like incest.

Bloomberg Surrogates Have Seats on DNC Rules Committees (Sludge)

As the Democratic National Committee establishes procedures for the Democratic presidential nominating process, two members of DNC rules committees simultaneously work on the campaign of former New York Mayor Michael Bloomberg. Having surrogates on the Democratic National Convention’s Rules Committee and the Standing Rules and Bylaws Committee could be a boon for Bloomberg if nominating rules are re-opened for amendment ahead of the July convention. Some DNC members who are concerned about the polling support of Sen. Bernie Sanders (D-Vt.) have discussed reversing rule changes limiting the power of superdelegates that were put in place after the 2016 election, according to a report from Politico. Those discussions have been sharply rebuked by DNC leadership.

The DNC passed intensely-negotiated rule changes in August 2018 that sought to reduce the influence of superdelegates—appointed at-large delegates whose ranks include influential party consultants—primarily by preventing them from casting votes on the first nomination ballot, as they did in 2016. If no candidate receives a majority on the first ballot at the upcoming convention, which will be voted on by 3,979 pledged delegates, then the 771 superdelegates—including some lobbyists for corporate clients—can vote on the second ballot, under the new rules. If the superdelegates were to vote as a block, they could add over 16% to a candidate, potentially pushing their favorite over the top.

Michael Nutter, the former Mayor of Philadelphia who is a member of the Standing Rules and Bylaws Committee, was selected by Bloomberg in December 2019 to serve as his campaign’s national political chair. “Nutter will advise the campaign on policy development and strategy, and serve as a national surrogate on behalf of the campaign, recruiting key voices to join the campaign and traveling to field offices and events, speaking to constituents and press about why Mike Bloomberg is uniquely qualified to unite and rebuild the country at a time when it is more divided than ever,” the Bloomberg campaign said in a December statement.

Nutter was nominated by former DNC Chair Rep. Debbie Wasserman Schultz (D-Fla.) in 2013 and he has served on the rules committee since 2017. Nutter co-hosted a kick-off fundraiser for former vice president Joe Biden in April 2019 after Bloomberg announced a month earlier that he would not run for president, but he quickly switched to Bloomberg’s camp after the former New York mayor reversed course and entered the race.

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Who needs drug labs?

 

 

 

Please donate what you can.

 

Feb 052020
 


DPC Pine Street below Kearney after the great San Francisco earthquake and fire 1906

 

China Applies For Drug Patent, Virus Death Toll +65 To 492 (SCMP)
Cruise Ship Carrying 3,700 Quarantined In Japan After 10 Test Positive (G.)
China’s Airlines Told Not To Axe Global Flights As Thousands Cut (R.)
Cathay Pacific Asks All 27,000 Employees To Take 3 Weeks Unpaid Leave (SCMP)
Trump-Pelosi Feud Erupts During SOTU As Impeachment Trial Nears End (R.)
Ocasio-Cortez Among 10 Democrats Planning To Boycott State Of The Union (G.)
Joe Biden Flopped In Iowa. And So Did The Democratic Party’s Reputation (G.)
The Big Tech Money Behind The App That Brought Chaos To The Iowa Caucus (F.)
Oil Flips Into Contango, Indicating Months Of Surplus (R.)
Britain To Ban New Petrol And Hybrid Cars From 2035 (R.)
Tesla Shares March Toward $1,000 (R.)
Musk’s Tesla Stake Worth $30 Billion After Electrifying Stock Surge (R.)
Council of Europe Sides With Julian Assange (IA)

 

 

Here we go again. The WuhanCorona virus continues on its record-setting path.

• Total cases 24,542 (+3872)

• 4,105 new cases in China (record daily high)

• 492 deaths (+65, also a record daily high)

• 185,555 cases under medical observation

Note: this pic below comes from a SCMP app that constantly updates. Numbers in articles do not necessarily. Therefore, they don’t always “add up”.

Note also the addition of recovered cases.

 

 

A few pics I picked up. How stark would you like it?

 

Here someone is trying to make the argument that the mortality rate is falling. That would be great, but I’m not sure it is true. Many factors have changed since the count began.

 

 

 

Gilead’s remdesivir looks like a Hail Mary. Not sure what the new patent application entails. A general anti-viral that came out of Ebola research?!

China Applies For Drug Patent, Virus Death Toll +65 To 492 (SCMP)

Daily deaths caused by the new coronavirus have reached yet another record high in China, with 65 fatalities – all in Hubei province – confirmed in overnight figures released by health authorities. The newly reported fatalities took the death toll in mainland China to 490. According to data released on Wednesday morning by China’s National Health Commission (NHC), confirmed cases around the country rose by 3,887 – also a daily record high – to 24,324, the majority of which were in Hubei, the epicentre of the outbreak. Cases of the novel coronavirus in Hubei rose by 3,156 to 16,678, according to provincial figures as of midnight on Tuesday. Almost 2,000 of those new cases were confirmed in Hubei’s capital of Wuhan, where the virus is believed to have originated at a seafood and meat market.

China has applied for a new patent on an experimental drug to treat the coronavirus. Wuhan Institute of Virology said in an online notice that a patent application had been filed on January 21 for the use of remdesivir, a drug developed by biopharmaceutical company Gilead Sciences. The drug has not been approved or licensed anywhere in the world, but has been rushed into trials in China after showing signs of effective use on coronavirus patients. Chinese scientists have found remdesivir – and chloroquine, an 80-year-old malaria drug – “highly effective” in laboratory studies aimed at thwarting the coronavirus, they said in a paper published on Tuesday in the journal Cell Research.

The two drugs’ effect on humans required further clinical tests, the Wuhan institute said in the online notice. It made the patent application in the national interest and would not exercise its patent rights if foreign pharmaceutical firms worked with China to curb the contagion, it said.

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The only people that can get off the ship are the ones that are confirmed infected. Hell on water.

One 80-year-old tested positive After leaving the ship. Then 273 were tested. When the first 31 results came in, 10 tested positive. That leaces 3,300 untested?

Cruise Ship Carrying 3,700 Quarantined In Japan After 10 Test Positive (G.)

Thousands of people face spending the next fortnight stuck on a luxury cruise ship quarantined off the Japanese port of Yokohama, after initial results showed 10 passengers have tested positive for the novel coronavirus. The Diamond Princess, with more than 3,700 passengers and crew onboard, had been prevented from sailing on Monday after an 80-year-old passenger who had travelled on the vessel late last month tested positive after he arrived home in Hong Kong. Of a further 273 people on board who have since been tested following health screenings, 31 results had come back – and of those 10 were positive, according to Japan’s health minister, Katsunobu Kato. It is not clear if more tests will be carried out.

Also on Wednesday, health checks began on 1,800 passengers and crew on a second cruise ship docked in Hong Kong, after 30 staff members reported symptoms including fever, according to Reuters. Hong Kong’s health department said that 90% of the passengers were Hong Kongers and no mainland Chinese were on board. Previously, three mainland Chinese that had been on the ship between 19 and 24 January, and were found to have contracted the virus. No passengers have been able to leave the World Dream ship, operated by Dream Cruises, without permission. David Abel, a British passenger who has been on the Diamond Princess for more than two weeks, said that people were now being confined to their cabins.

“We’re not even allowed to open the cabin door to go down the corridor. They bring the food to us – it’s a knock on the door. For the first time ever the crew are masked up,” he said. [..] Two Australians are among the 10 people who have tested positive, the cruise company Carnival confirmed. The other people infected are three Japanese, three from Hong Kong, one American and one Filipino crewmember. The patients, who are reportedly aged in their 50s to their 80s, were being removed from the ship by the coast guard and taken to local hospitals. The ship’s owner, Princess Cruises, said 3,711 people were aboard the ship, consisting of 2,666 guests and 1,045 crew. About half of the passengers are from Japan, with 223 Australians on the vessel.

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They’ll be stopped soon enough. There are no other options left.

China’s Airlines Told Not To Axe Global Flights As Thousands Cut (R.)

China’s civil aviation authority has urged domestic carriers to continue flying international routes as they consider cuts in response to a drop in demand due to the coronavirus outbreak, state news agency Xinhua reported on Tuesday. Airline capacity is being axed in the world’s second largest aviation market with “the most dramatic change in schedules”, OAG Aviation Worldwide Ltd said, adding that more than 25,000 flights to, from or within China will be canceled this week. The coronavirus epidemic, which has killed more than 400 people in China, has resulted in bans or restrictions on travel to and from China imposed by countries including Singapore and Italy. The World Health Organization’s director-general, Tedros Adhanom Ghebreyesus, had said travel bans were unnecessary.


The Civil Aviation Administration of China’s appeal to the country’s airlines was reported on Xinhua’s account on Chinese messaging app Weibo. Data from aviation statistics provider VariFlight showed 41 Chinese carriers canceled nearly two-thirds of the 16,623 planned flights for Tuesday as of 10:30 a.m. Beijing time (0230 GMT). In addition, 10 regional airlines from Hong Kong and Taiwan had canceled 162 flights, while 37 airlines from other countries canceled 168 flights on the same day, VariFlight said. It also said that some 90,000 flights were canceled between Jan. 10 and Feb. 3, and that about 10,000 planned flights on average have been scrapped each day since the start of February.

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But Hong Kong’s airline is not listening…

Cathay Pacific Asks All 27,000 Employees To Take 3 Weeks Unpaid Leave (SCMP)

Cathay Pacific is asking all of its 27,000 employees to take three weeks of unpaid leave over the coming months, the company’s CEO told staff on Wednesday, as Hong Kong’s flagship carrier reels from the devastating impact of the deadly coronavirus on air travel. “I am appealing to each and everyone one of you to help,” said Augustus Tang Kin-wing in a taped video recording. “The situation now is just as grave.” On Tuesday, Hong Kong’s flagship carrier unveiled massive cuts to flying schedules, by 30 per cent worldwide for two months, including in mainland China which would see 90 per cent of its capacity cut during that period.

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Grace, Nancy. It has a place. You lost your gamble, and the way you take your losses tells people a lot about you.

Trump-Pelosi Feud Erupts During SOTU As Impeachment Trial Nears End (R.)

A bitter feud between U.S. President Donald Trump and top Democrat Nancy Pelosi boiled over at his State of the Union speech on Tuesday, with Trump denying her a handshake and Pelosi ripping apart a copy of his remarks behind his back. Trump avoided the subject of his impeachment drama in a pugnacious 80-minute speech, but the raw wounds from the battle were evident with fellow Republicans giving him standing ovations while rival Democrats for the most part remained seated. The Republican-led Senate was expected to acquit him of charges he abused his powers and obstructed Congress during a vote beginning at 4 p.m. EST on Wednesday.


How some Republicans watched SOTU

Seeing Pelosi, the U.S. House of Representatives speaker, for the first time since she stormed out of a White House meeting four months ago, Trump declined to shake her outstretched hand as he gave her a paper copy of his remarks before starting to speak. Despite having not spoken to Trump since their last meeting, Pelosi appeared to be taken aback. She avoided citing the customary “high privilege and distinct honor” that usually accompanies the speaker’s introduction of the president to Congress. “Members of Congress, the President of the United States” was all she said in introducing Trump.


When his speech ended, Pelosi stood and tore up her copy of the remarks he had handed her, later telling reporters it was “the courteous thing to do, considering the alternative.” Kayleigh McEnany, Trump’s campaign spokeswoman, said of Pelosi: “Her hatred for @realdonaldtrump has blinded her to the repulsive nature of her smug, elitist behavior.” After the event, Pelosi tweeted a photo of her with her hand reaching out to Trump and said, “Democrats will never stop extending the hand of friendship to get the job done #ForThePeople. We will work to find common ground where we can, but will stand our ground where we cannot. #SOTU”

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Preaching only to her own little crowd, empty virtue signals. Same as Pelosi: grace has its place.

Ocasio-Cortez Among 10 Democrats Planning To Boycott State Of The Union (G.)

At least 10 Democrats have said they will boycott Donald Trump’s State of the Union address on Tuesday night on the eve of a Senate impeachment trial vote that is expected to acquit him. Congresswoman Alexandria Ocasio-Cortez, of New York, said she would not be attending because she did not want to normalize Trump’s “lawless conduct” and “subversion of the constitution”. Ayanna Pressley of Massachusetts issued a statement explaining her decision, saying: “The State of the Union is hurting because of the occupant of the White House, who consistently demonstrates contempt for the American people, contempt for Congress, and contempt for our constitution – strong-arming a sham impeachment trial in the Senate. This presidency is not legitimate.”


“On the eve of Senate Republicans covering up transgressions and spreading misinformation, I cannot in good conscience attend a sham State of the Union when I have seen firsthand the damage Donald J Trump’s rhetoric and policies have inflicted on those I love and those I represent.” Both women attended Trump’s State of the Union speech last year just a month after taking office, but have since been the target of his racist attacks. The two other members of “the Squad” of progressive freshman congresswomen who were also subjected to those attacks, Rashida Tlaib of Michigan and Ilhan Omar of Minnesota confirmed they would attend the address.

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Biden is gone. Buttigieg is suspicious. It’s not about the party’s reputation anymore, it’s about the Party itself.

Joe Biden Flopped In Iowa. And So Did The Democratic Party’s Reputation (G.)

If you’re the type of person who thinks the Democratic party is a creaking, incompetent entity whose leadership needs overthrowing, the Iowa caucuses certainly validated your point of view. None of us knew who would win, but we had at least expected a result. We didn’t get one, at least not on caucus night. State Democratic party officials announced that due to “quality control” issues, release of the result would be indefinitely delayed. On a conference call with representatives of the candidates, party officials hung up the phone when asked when the totals would be released. So what do we know? Well, one thing we can say confidently is that “frontrunner” Joe Biden flopped.

There were places where Biden didn’t even meet the 15% threshold needed to maintain viability from the first round to the second round – at one caucus site, the attorney general of Iowa had to switch from Biden to Buttigieg when Biden was disqualified. It explains why Biden’s surrogate John Kerry was heard on the phone the other day asking whether it would be possible for him to enter the race at the last minute to save the Democratic party from being conquered by Sanders. Internal numbers released by the Sanders campaign, showing results from 40% of caucus sites, showed Sanders winning with approximately 30% of the vote, Pete Buttigieg coming in second with 25%, Elizabeth Warren third with 21%, and Joe Biden a very distant fourth with 12%.

If those numbers match the ultimate totals, they are great for Sanders and absolutely horrific for Biden. Sanders will have kicked the crap out of the frontrunner, Barack Obama’s former vice-president and the man most favored to win the nomination. It would be a stunning upset. But Biden caught a lucky break. With the party not releasing the actual result, his campaign sent a letter demanding that the result be suppressed until such time as the “quality control issues” were resolved. If it takes long enough to get the official count, Biden may hope that Iowa is old news, or that the issues surrounding the caucus are discussed far more than the actual result. (That’s one reason we need to make sure we don’t get bogged down too much in talking about the procedural issues rather than the actual outcome.)

[..] If you’re a Sanders supporter, you have reason to be suspicious. We had already seen the Des Moines Register suppress the results of its “gold standard” poll on the eve of the election, after a complaint from Buttigieg. And with 0% of caucus results in, Buttigieg declared himself “victorious”, praising the “incredible result” and saying Iowa had “shocked the nation”. The only thing that had shocked the nation at this point was Iowa’s total inability to perform the relatively simple task of counting people’s votes. But Buttigieg, good McKinseyite that he is, was getting a head start on deploying the PR spin.

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“..cutting-edge technology to stymie a Trump re-election..”

The Big Tech Money Behind The App That Brought Chaos To The Iowa Caucus (F.)

The smartphone app that caused a major delay in reporting results during Iowa’s Democratic caucus was funded by both Democratic presidential candidates and Silicon Valley veterans anxious to use cutting-edge technology to stymie a Trump re-election. The app that was supposed to count and report caucus results was created by Shadow Inc., a for-profit tech company cofounded in February 2019 by former Google engineer Kirsta Davis and Gerard Niemira, an engineer who worked at San Francisco microlender Kiva.org. Both later worked on Hillary Clinton’s failed 2016 presidential campaign.


Washington D.C.-based Shadow was acquired last year by Acronym, a nonprofit also based in D.C. and founded in March 2017 by former journalist Tara McGowan to advance “progressive causes through innovative communications, advertising and organizing programs.” It has an affiliated political action committee called Pacronym. Silicon Valley heavyweights make up the liberal-leaning roster of Pacronym’s backers. One supporter is billionaire Michael Moritz, a partner at Sequoia Capital, whose net worth of $4.1 billion stems from his early bets on Google, LinkedIn and PayPal. According to Federal Election Committee data, he gave $1 million to Pacronym, or 12.8% of the $7.8 million that it has raised since early 2019.

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Mighty OPEC loses to tiny virus.

Oil Flips Into Contango, Indicating Months Of Surplus (R.)

The oil market looks set for at least four months of depressed demand because of China’s coronavirus outbreak, with a large crude surplus not expected to clear at least until August, analysts and traders said. Fears of a virus-related slump in global energy demand have flipped the market into contango this week – a structure in which longer-dated oil futures trade at a premium that encourages traders to keep crude in storage for more profitable resale in the future. Brent crude has not been in contango since July 2019. On Tuesday the benchmark was in contango for as much as $0.40 a barrel between prices for closest trading month April and August. For U.S. West Texas Intermediate (WTI) crude the contango between March and July prices was $0.60 a barrel.

The structure of the market has significant implications. Besides encouraging storage of oil, contango also hurts financial investors who have to pay a premium every month they renew a futures contract. [..] Goldman Sachs, meanwhile, said the flip of time spreads into contango is consistent with the physical market suddenly shifting into a large surplus. “While deferred Brent time spreads are too discounted in our view, evidence that Chinese refiners are pushing back on crude shipments and Atlantic loadings points to ongoing weakness for nearby Brent time spreads,” Goldman said in a market note. China has been the main driver of global energy demand growth in recent years and ING Bank said the market is clearly worried that Chinese refinery demand will retreat.

“The issue for the market is if travel restrictions continue for an extended period … demand loss will become increasingly difficult for the market to swallow,” ING said, adding OPEC+ could come under increasing pressure to cut output by more than laid out in their existing supply pact.

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Until you have been explained exactly where the electricity will come from, this is nothing but a swindle. Do you like being swindled?

Britain To Ban New Petrol And Hybrid Cars From 2035 (R.)

Britain will ban the sale of new petrol, diesel and hybrid cars from 2035, five years earlier than planned, in an attempt to reduce air pollution that could herald the end of over a century of reliance on the internal combustion engine. The step amounts to a victory for electric cars that if copied globally could hit the wealth of oil producers, as well as transform the car industry and one of the icons of 20th Century capitalism: the automobile itself. Prime Minister Boris Johnson is seeking to use the announcement to elevate the United Kingdom’s environmental credentials after he sacked the head of a Glasgow U.N. Climate Change Conference planned for November known as COP26.


“We have to deal with our CO2 emissions,” Johnson said at a launch event for COP26 at London’s Science Museum on Tuesday. “As a country and as a society, as a planet, as a species, we must now act.” The government said that, subject to consultation, it would end the sale of new petrol, diesel and hybrid cars and vans in 2035, or earlier if a faster transition was possible. Countries and cities around the world have announced plans to crack down on diesel vehicles following the 2015 Volkswagen emissions scandal and the EU is introducing tougher carbon dioxide rules. The mayors of Paris, Madrid, Mexico City and Athens have said they plan to ban diesel vehicles from city centres by 2025. France is preparing to ban the sale of fossil fuel-powered cars by 2040.

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Trading hot air.

Tesla Shares March Toward $1,000 (R.)

Shares of Tesla Inc surged 20% on Tuesday to hit $940, extending a stunning rally that has more than doubled the company’s market value since the start of the year as more investors bet on Chief Executive Elon Musk’s vision. The latest surge was partly fueled by Panasonic saying on Monday its automotive battery venture with Tesla was in the black for the first time. “Investors are now starting to believe that Tesla can make mass-volume electric vehicles, and automakers, battery makers and suppliers can make money from EVs,” said Cho Hyun-ryul, analyst at Samsung Securities. Some analysts have attributed the rally to short covering as well. Short interest in Tesla stood at 13.8% as of Jan. 30, according to Refinitiv data.


Shares of heavily shorted companies can at times get pushed higher as traders rush to buy stock to cover their short bets, triggering what is known as a “short squeeze”. Panasonic shares closed up 10%, while those of Tesla’s Asian suppliers South Korea’s LG Chem and China’s CATL also closed higher. Tesla’s surge on Tuesday valued the company at nearly $170 billion, nearly double the combined market capitalization of General Motors and Ford Motor. Tesla last week reported a second consecutive quarterly profit and said it would comfortably make more than half a million vehicles this year. Billionaire investor Ron Baron, whose firm holds a nearly 1% stake in Tesla, said he will not be selling a single Tesla share, adding he believes the carmaker could hit $1 trillion in revenue in 10 years.

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Fridges for Inuit.

Musk’s Tesla Stake Worth $30 Billion After Electrifying Stock Surge (R.)

Tesla is making Elon Musk a lot richer without paying him a dime. A blistering stock rally has bolstered the value of CEO Musk’s 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion. Tuesday’s steep climb in the share price could sweeten Musk’s payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion. The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.


Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018. That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co and BMW. Tesla shares have climbed about 400% since early June, helped by the company’s better-than-expected financial results and ramped-up production at its new car factory in Shanghai. [..] Musk’s Tesla stake worth $30 billion after electrifying stock surge

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Now apply the Force.

Council of Europe Sides With Julian Assange (IA)

The attitude of European institutions is changing after years of silence. In this case, it was Andrej Hunko and Gianni Marilotti that convinced the European Assembly to speak up. The moment that press freedom advocates have been waiting for so long has finally arrived. The European institutions are starting to officially state that they don’t want Julian Assange to be extradited to the U.S. The Parliamentary Assembly of the Council of Europe (PACE) has become the first one to step in and call for Assange’s immediate release, joining the call of the United Nations Special Rapporteur on Torture, Nils Melzer, who some months ago clearly stated that Assange should walk free.

The call was made on the 28th of January, 2020, when the PACE was debating on a resolution for the Member States included in a report on Threats to Media Freedom and Journalists’ Security in Europe. Drafted by the Labour member of the British House of Lords, George Foulkes, the document opens stating that the Council of Europe and its Assembly are firmly committed to strengthening media freedom in all its aspects, including the right to access to information, the safeguard of editorial independence and of ‘the ability to investigate, criticise and contribute to public debate without fear of pressure or interference’. Several amendments to the report were proposed inside the PACE Committee on Culture, Science, Education and Media, and Lord Foulkes, who is part of it, was happy to accept the one on Assange.

Lord Foulkes said: “UK colleagues supported it because we don’t want to see him extradited by the UK Government to the United States and facing centuries in prison.” The Council of Europe is the continent’s leading institution on human rights and includes 47 member states, 28 of which are also part of the European Union. What this Parliamentary Assembly, made up of members of national legislatures says about freedom of the press is something civil society should take notice of. In this light, you would hope that the work of Wikileaks and his founder can hardly be forgotten. Or maybe it could — it seemed to be surprisingly off the agenda until some weeks ago, but January 2020 seems to have marked a change of course.

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Every color is home to 1 billion people. Find Wuhan on the map.

 

 

 

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