Apr 102021
 


Vincent van Gogh Sprig of Flowering Almond in a Glass 1888

 

‘A Small, Sanitised Existence’ (Godwin)
Covid-19 Vaccine Passports Are Not Evidence Based (BMJ)
A&E ‘Swamped’ With Patients Seeking Help For Mild Covid Jab Side-effects (G.)
The Davos Set’s Dystopian Ambitions Are Very Clear (Clark)
Nearly 40% Of US Marines Have Rejected Coronavirus Vaccine (RT)
Biden Requests $753 Billion Defense Budget (Hill)
Infrastructure Bills Do Not Lead To Recovery, Only Increased Control (Smith)
The Two Faces Of Joe Biden (Matt Taibbi)
Will America Survive Joe Biden? (Kunstler)
Jimmy Kimmel Is The Latest To Embrace Hunter’s Scandal Spin (Turley)
Who Is The Most Powerful Doctor In The World? (IP)
Boeing Sounds Alarm On New Problem With 737 Max, Advises Grounding Again (RT)
Dumping Fukushima Radioactive Water in Pacific is Now “Unavoidable” (Marat)

 

 

 

 

 

 

About the effect of isolation on babies’ mental development. Bad enough for sure. But not a word on the stunted growth of their immune systems. Odd. It all comes together.

‘A Small, Sanitised Existence’ (Godwin)

My son, 0, doesn’t know any different. One of around 600,000 babies born in Britain in the plague year of 2020, he has spent all eight months of his life (and most of his gestation) in a world defined by distance and disease. His circle is small. He doesn’t get out much. When he does, the faces that peer in at his pushchair are concealed by masks. A baby is usually a magnet for human touch; I’d guess around 300 people had held his older brother by the time he was eight months old. Perhaps 20 people have made physical contact with Aubrey. To my mother-in-law, who is in the highest-risk category for coronavirus, he is at once a joy and a death risk. He has never been on a bus or train; he hasn’t met most of his extended family, nor most of our friends; and he doesn’t know any other babies – discounting the tiny person who laughs at him in the mirror.

The difference between babyhood now and babyhood as we first experienced it is vast. What was once a busy marketplace of events, activities and sociability has become a ghost town. What effect will this small, sanitised existence have on the babies of 2020-21? I console myself that, while his parents have been slowly losing their minds, Aubrey seems to have things fairly sussed. But as each milestone passes – as he grows out of the cardigans his grandmothers knitted for him, but never saw him wear – I can’t help but wonder what the long-term effects will be. Considering how fundamental these first months of a child’s life are to their cognitive and emotional development, what sort of mark will this strange period leave on him? How much are babies missing out on? And can what is lost be regained?

Dr Nayeli Gonzalez-Gomez, a child development specialist at Oxford Brookes University, is leading a study into the effects of coronavirus on families with children aged 8-36 months. Unsurprisingly, she is finding experiences vary hugely across the social divide, with the closure of playgroups and other means of support hitting poorer families particularly hard. “Playgroups are really important,” says Gonzalez-Gomez. “They provide enriching activities, they promote child health, they provide links to formal support for parents who are struggling, and they help parents meet other parents. Those babies are missing out on all of that, and so are their parents.” The (anonymous) testimonies are strikingly varied. Some parents report their children’s language has “exploded”.

“We were astonished by the improvement in our daughter’s mood, behaviour and development,” writes one parent. Others say the opposite: “Child has become very clingy to me.” Another says their child has become terrified of other adults, particularly men. “If a man tries to talk to her, she becomes incredibly scared, panic crying, hiding her face in me.” “A lot of people have told us that their babies have developed a fear of strangers,” Gonzalez-Gomez adds. “If all a baby is used to is being indoors, they are missing out on so many interactions that will teach them how the social world works. We don’t know what the long-term effect will be – but it’s something to keep an eye on.”

Read more …

Maryanne Demasi, Researcher, journalist and Prof Peter Gotzsche, Institute for Scientific Freedom.

“Consequently, an enormous number of healthy people will be declared ill; they will be isolated; and many contacts will be asked to be tested, too. This situation is likely to spiral into chaos.”

Covid-19 Vaccine Passports Are Not Evidence Based (BMJ)

The hope is that vaccine passports will pave the way for economic recovery and restore people’s freedoms, but is it evidence-based and does it violate people’s right to choose? The most obvious issue is that it is still unclear whether vaccination prevents transmission. Vaccinated people may still be able to unknowingly spread the virus. That’s why, on 5 Feb, the World Health Organisation released a statement dissuading nations from using vaccine passports, stating that “there are still critical unknowns”(7) and recently, reiterated its opposition to them.(8) In addition, demonstrating “proof of antibodies” on a vaccine passport is problematic, as people can be infected more than once, particularly considering that the virus mutates.(9)

Twice weekly testing of UK citizens using rapid 30 minute tests, has been criticised by experts as “beyond reckless.”(10) They say the tests are not accurate, and the evidence to support their use is very weak.(10) Further, the PCR test used by many countries had 100% sensitivity and 97.8% specificity. This is a highly accurate test if used when infection is suspected. But it performs poorly when used as a screening test. In Denmark, only 0.5% of those tested are positive for COVID-19. Thus, for every 1000 people who are tested, we will get these results: “Infected, Healthy Test + 5, 22 Test – 0, 973. This means that 81% (22/27) of those who are told they are ‘infected’ are actually healthy.

A requirement for school attendance is a negative test twice a week, and in order to work at the Danish Technical University you must be able to present a Covid negative certificate, less than 72 hours old, to armed guards in the building. In Denmark, in the last week of March, 1.1 million PCR tests were carried out (population of 5.8 million). Consequently, an enormous number of healthy people will be declared ill; they will be isolated; and many contacts will be asked to be tested, too. This situation is likely to spiral into chaos. [..] Our biggest concern regarding vaccine passports is the potential violation of people’s freedom of choice. People are likely to be denied access to places or the opportunity to travel abroad unless they opt for the jab.

The proponents of vaccine passports say it is meant to incentivise people to be vaccinated, but it has created a bitter divide, with many arguing that it is treading a fine line between voluntary and mandatory vaccination. The Biden administration recently announced that it would not endorse a national vaccine passport and that it was a matter for individual States.(15) The Governors of Florida(16) and Texas(17) have both moved to prohibit vaccine passports saying that they reduce individual freedom and will harm patient privacy. Conversely, in the UK, political leaders continue to support the idea of vaccine passports,(1) and many UK citizens appear to agree. A recent survey of more than 8,300 people aged over 16 found that most were in favour of vaccine passports to travel abroad or to visit a relative living in a care home.(18)

Read more …

If they were all so mild, the GPs would not send them to a hospital. If only because those are full already, and dangerous places to be.

A&E ‘Swamped’ With Patients Seeking Help For Mild Covid Jab Side-effects (G.)

People who have had the Oxford/AstraZeneca vaccine are seeking help at A&E despite having only mild side-effects such as headaches, in the wake of the controversy over whether the jab causes blood clots. Emergency medicine doctors in England told the Health Service Journal that a growing but unspecified number of people who were anxious after having the Oxford/AstraZeneca jab were coming to A&E units, some apparently after being advised to do so by a GP. Dr Katherine Henderson, the president of the Royal College of Emergency Medicine, confirmed the trend to the Guardian. “It’s definitely a thing. Colleagues across England are reporting this. All A&E departments are seeing an increase in the number of people reporting concerns after having the AstraZeneca vaccine.

“We are seeing people with mild headaches and persistent headaches but who are otherwise alright. “Emergency departments and GPs are getting a lot of queries. I think it’s an understandable reaction by the public. I can understand why people are anxious. If they are worried they need to get advice”, Henderson said. One A&E consultant told the HSJ: “We have seen huge numbers of AstraZeneca jab-associated headaches being sent in and, like all [emergency departments], we’re scrabbling to cobble together some guidance so as to sensibly reduce the number needing investigation. I gather some units are really, really struggling with this.”

An A&E doctor at a London hospital told the HSJ that their department was “swamped” with patients with headaches who had been sent there by their GP. But Dr Michael Mulholland, vice-president of the Royal College of GPs, said: “GPs will only recommend patients attend A&E if they think it’s the most appropriate place for them to go to get the care they need.”

Read more …

“But is masking up whenever we go out really the same as putting on a pair of trousers, to use the English term?”

The Davos Set’s Dystopian Ambitions Are Very Clear (Clark)

In their recent paper, ‘Evaluating England’s Road Map out of Lockdown‘, published on the UK government’s website, the Imperial College Covid-19 Response team state: “Whilst the impact of Test Trace Isolate, mask wearing, hand hygiene and COVID security on ‘R‘ is difficult to quantify it will be vital to emphasise the importance of normalising and ensuring adherence to all measures even after ‘full lifting’ is achieved.” Got that? Masks need to stay even after Boris Johnson says ‘Lockdown is over‘. It’s in this context that the World Economic Forum’s (WEF) enthusiastic promotion of the Chinese ‘smart face mask’ needs to be seen. It apparently reminds users when to wash it and checks if they’re wearing it properly.


If too much carbon dioxide builds up inside, a phone alert reminds the wearer to catch a few breaths of fresh air. If the user forgets to put it on, the same phone app sends them a reminder to mask up. This is not about public health, but all about making sure that measures introduced ostensibly to stop the spread of Covid-19 become permanent. Yes, once again the much-derided ‘crackpot conspiracy theorists’ of 2020 have been proved right. Remember how last summer, the WEF was promoting a ‘Common Pass‘ health passport scheme, not just for international travel but for access to domestic events too? It would never happen, we were told. That’s ‘David Icke stuff’, was the condescending brush-off. Well, that too has come to pass – no pun intended.

To find out why all this is happening, all we have to do is to follow the money trail. All the way to Davos. What does the pro-permanent mask Imperial College have in common with the pro-permanent mask WEF? Answer: the pro-permanent mask Bill Gates. Last month, Gates himself likened putting on a face mask to putting on a pair of trousers. “I just don’t think wearing a mask is such a deep inconvenience. I mean we ask people to wear pants. You know, why was this politicised?” Back in November, he made the same comparison. “We ask you to wear pants and, you know, no American says — or very few Americans say — that that’s, like, some terrible thing.” But is masking up whenever we go out really the same as putting on a pair of trousers, to use the English term?


Of course it isn’t. Unless you’re Batman or The Lone Ranger, or another Saturday morning cinema superhero, or indeed a bank-robber, wearing a mask in public isn’t normal, and no amount of WEF-spin makes it so. But what walking about with pieces of black cloth over our mouths and noses does do, is maintain the levels of fear in the community. If cases and deaths with Covid have plummeted to zero, but we want to make people live as if there is a permanent pandemic, to keep control over them, and to introduce ‘Covid-certification’ to restrict where they can and cannot go, how else can we keep Project Fear going without masks? It’s the only way we’d know that these were not ‘normal’ times. Which is, of course, precisely why they were introduced when deaths had dwindled to very low numbers. Smart masks? The really smart thing is to get wise to the WEF’s dystopian agenda.

Read more …

Coming soon: Vaccine hesitancy is a threat to national security.

Nearly 40% Of US Marines Have Rejected Coronavirus Vaccine (RT)

Just shy of 40 percent of Marine Corps service members have refused to take the coronavirus jab, new data provided to the media shows. The revelation comes as Democratic lawmakers push to make the vaccine mandatory for soldiers. Some 75,500 Marines have agreed to be vaccinated as of Thursday, while around 48,000 have declined the inoculation, CNN reported, citing numbers provided by the branch. That puts the rejection rate at 38.9%, slightly higher than the 33% rate for the whole military given by defense officials. Marine spokeswoman Colonel Kelly Frushour explained that Marines may be refusing the shot for a number of reasons, including allowing others in more vulnerable groups to take it first, allergies to the vaccine or obtaining it by other, non-military means.


Frushour stressed the need to “build vaccine confidence” among servicemen, adding that reluctant troops can always “change their mind and become vaccinated when next the opportunity presents itself.” Another 102,000 or so Marines, including active-duty and reserve troops, are still in line for the immunization and have not had a chance to accept or decline. The rejection rate was much higher at certain bases, such as Camp Lejeune, a major Marine installation in North Carolina, where 57% of service members have refused to take the shot. While the military is currently barred from mandating any of the coronavirus vaccines rolled out in the US, as each has received only emergency FDA approval rather than full authorization, some in Congress have pressed the Joe Biden administration to change that.

Read more …

“..the Defense Department budget “prioritizes the need to counter the threat from China as the department’s top challenge.”

Putin will be insulted.

Biden Requests $753 Billion Defense Budget (Hill)

President Biden is requesting a $753 billion defense budget for next fiscal year, with $715 billion of that going to the Pentagon. The fiscal 2022 proposed budget represents a slight increase over this year — likely to upset both progressives, who had sought cuts to Pentagon budgets, and defense hawks. The budget outline released Friday does not detail exactly what the money would buy, with a more comprehensive proposal expected later this spring. A fact sheet released by the White House said the Defense Department budget “prioritizes the need to counter the threat from China as the department’s top challenge.”

The budget also “proposes executable and responsible investments” in the Navy fleet, “supports ongoing nuclear modernization programs while ensuring that these efforts are sustainable,” and “continues to ensure that U.S. soldiers, sailors, airmen, Marines and guardians remain the best trained and equipped force in the world,” while also supporting Pentagon plans to “divest legacy systems,” according to the fact sheet. It also said the budget would support “efforts to plan for and mitigate impacts of climate change” on Defense Department facilities and invest in “power and energy research and development.”

The overall defense budget includes both Pentagon funding and non-Pentagon programs such as Department of Energy nuclear weapons funding. Friday’s release officially kicks off the jockeying over the defense budget on Capitol Hill, though lawmakers have already been drawing their battle lines. While the administration proposes a budget, it is up to Congress to fund the government, and lawmakers routinely deviate from, or sometimes simply ignore, presidential budget requests. A $753 billion defense budget would be a modest increase over this year’s $740 billion, as would a $715 billion Pentagon budget compared to this year’s $704 billion.

Read more …

“..all other nations had to turn to the U.S. for manufacturing during the long rebuilding process. In Europe, this process carried on well into the 1950s.”

Infrastructure Bills Do Not Lead To Recovery, Only Increased Control (Smith)

Biden, in particular, has made historic stimulus spending the very first platform of his administration, and consistently cites FDR and Lyndon Johnson as patron saints of his infrastructure bill. If it worked for them, then obviously it will work for him… right? In reality, the public works and welfare programs of FDR in particular had very little to do with the ending of the Great Depression. In fact, the New Deal actually made the situation worse. Roosevelt’s own Treasury Secretary, Henry Morgenthau, lamented on May 6th, 1939 after two full terms of FDR’s presidency and stimulus programs that the New Deal was a complete failure. He stated to fellow Democrats during a session of the House Ways and Means Committee that:

“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong… somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises… I say after eight years of this Administration we have just as much unemployment as when we started… And an enormous debt to boot!” High unemployment and declining living standards were an epidemic in the U.S. throughout the 1930s and well into World War II. The Census Bureau outlines the dismal state of the financial system and the U.S. consumer throughout this period in its “Historical Statistics of the United States.”

By 1939 the stock market had crashed on multiple occasions, car sales imploded by 30%, business closures increased by 50%, and real estate foreclosures were still near record highs. The New Deal had achieved minimal benefits of limited scope, but not much else. For the average American, it was as if nothing had changed in a decade. That said, for certain major companies and big banks, the gains were incredible. Companies like General Electric, IBM, Proctor and Gamble and JP Morgan saw endless profits during the Great Depression while buying up smaller competitors for pennies on the dollar. Those companies involved in public works programs siphoned government money like a black hole while very little trickled down to American workers. All in all, the Great Depression was a windfall for the corporate elite as wealth was consolidated and centralized into fewer and fewer hands.

So we have to ask, if the New Deal was a failure and did nothing to solve the depression problem, what did solve it? Some historians and journalists suggest the beginning of World War II and increased defense spending saved America. This is incorrect. As noted by Robert Higgs, the U.S. standard of living continued to decline throughout World War II. It was not the beginning of the war that saved America, but “After the war genuine prosperity returned for the first time since 1929.” The U.S. was one of the only industrialized nations on the planet that had been left mostly untouched by the destruction. Because of this, all other nations had to turn to the U.S. for manufacturing during the long rebuilding process. In Europe, this process carried on well into the 1950s. The U.S. had very little competition, so much so that the U.S. dollar’s reserve status increased to the point of complete dominance. If you wanted access to manufactured goods, you had to trade with the U.S., and to trade with the U.S., you had to have a stockpile of U.S. dollars.

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JRB and FDR.

The Two Faces Of Joe Biden (Matt Taibbi)

On April Fool’s Day, CNN ran an “analysis” of Joe Biden’s presidency: Will JRB take his place alongside FDR and LBJ? CNN explained “JRB” had just unveiled a $2 trillion infrastructure plan “to boost ordinary working Americans rather than the wealthy,” a program that together with his $1.9 trillion Covid rescue doubles “as a bid to lift millions of Americans out of poverty.” The news is like high school. One day, one kid comes in wearing Dior sneakers and Nike X Ambush pants, and two days later, that’s all you see in the halls. The “Biden-as-FDR” stories raced around News High, with headlines like “With nods to FDR, JFK and LBJ, Biden goes big on infrastructure plan” (Yahoo!) and “Can Biden achieve an FDR-style presidency? A historian sees surprising parallels” (Washington Post). Even the New Yorker’s naysaying take, “Is Biden Really the Second Coming of F.D.R. and L.B.J.?” read at first glance like an affirmation.

That this high-flown language came on the heels of Biden’s people whispering F.D.R. comparisons in the ears of reporters for weeks, and Biden himself calling his plan “a once-in-a-generation investment in America,” seemed not to bother anyone. We live in a time when a president can be said to have “sharply cut poverty” the moment he signs a relief bill, so why not say, as CNN editorialists Stephen Collison and Caitlin Hu did, that this new bill’s passage would immediately allow Biden to “lay claim to a spot in the Democratic pantheon alongside Franklin Roosevelt and Lyndon Johnson?” This would only be natural, they said, since “Scranton Joe” has long despaired over the silver spoon inequities of Donald Trump’s trickle-down economy:

The President complained as he unveiled his plan in Pittsburgh — the kind of gritty blue-collar city he loves — that the top 1% saw their wealth rise by $4 trillion during the pandemic while millions of Americans lost jobs. “Just goes to show you how distorted and unfair our economy has become,” Biden said. “Wasn’t always this way. Well, it’s time to change that.” Left unmentioned was that the same gritty, blue-collar president oversaw the TARP bailout, which resulted in a similar Trumpian windfall for the 1%. The richest saw their share of America’s wealth increase from 30% in 2010 to 39% in 2016. Median household net worth fell 34% from a peak in 2007 to the end of the Obama-Biden presidency, while banks in 2009 had the best year they would have until 2020, that “unfair” bailout year Biden complained about.

Pundits have long been working on revising that history. By last summer, the Atlantic was writing this about Biden’s management of the other bailout: “Critics on the left faulted him and Obama for not making the stimulus package bigger (though keeping it below $1 trillion was the price of winning necessary Republican votes for its passage in the Senate).” That’s just not true. Certainly, Republicans would have hammered Obama for a stimulus of any size, but Obama officials decided on those levels on their own. We’ve known this since 2012, when the New Yorker published a piece outing the fact that Larry Summers advised the incoming president to prioritize deficit reduction over stimulus.

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“This body of unresolved allegations haunts the House of Biden like some stinking dead animal decaying under the Oval Office floorboards that everyone pretends not to notice.”

Will America Survive Joe Biden? (Kunstler)

If you want to understand the complete failure of moral authority in America, seek no further than the gothic doings of the Biden family, especially now that the President’s degenerate son, Hunter, has been rewarded with a $2-million advance-against royalties (i.e., money up-front) from Simon & Schuster, and a gala publicity tour of the national news media designed to conceal his criminal culpability in evidence contained on the “laptop from hell” that he stupidly abandoned in a Delaware repair shop while lurching through his daily doings on one of countless drug jags he’s enjoyed between rehabs since his dad stepped back into national politics.

The failure is shared by a national news media that refuses to scrutinize the obvious financial crimes documented on the laptop, the FBI, which sat on the laptop through the months of Trump Impeachment No. One — while the computer contained evidence of Hunter’s grifting and money-laundering directly benefiting “the Big Guy,” Joe Biden, at issue in the impeachment — and the Department of Justice, which has been sitting on its hands pretending to conduct an investigation into all this.

The moral darkness of the family is beyond Shakespearean. It ranges from fantastically sordid personal indecencies like Hunter posting drug-fueled selfie sex videos with whores on the PornHub website, to intimations of lewd consort with his teenage niece, to the admitted fact of him bird-dogging his dead brother’s wife, Hallie… and into financial misdeeds that suggest Hunter sold out his country by peddling Joe Biden’s favor to agents of the Chinese communist party and other foreign nations. This body of unresolved allegations haunts the House of Biden like some stinking dead animal decaying under the Oval Office floorboards that everyone pretends not to notice.

Most recently, in a striking instance of in-your-face duplicity, Joe Biden announced his new crusade against gun ownership the same week that credible evidence surfaced that Hunter had obtained a .38 caliber handgun by lying on the application about his drug use — well-documented in his discharge record from the Navy Reserve (for failing a cocaine blood test), as well as his repeat visits to drug rehab clinics. In 2018, it happened that his then-paramour, Hallie Biden, fearing for his behavior, took the gun from Hunter’s car and tossed it in a dumpster outside a Wilmington food market. Directly afterward, the Secret Service office in Wilmington went to the gun-shop, StarQuest Shooters & Survival Supply, to ask for the forms Hunter had filled out and signed to buy the gun, which itself was never recovered.

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“Burisma and other companies not only gave massive payments to someone without any notable skills or experience, they hired someone who was a drug addict who was, by his own account, a total trainwreck.”

Jimmy Kimmel Is The Latest To Embrace Hunter’s Scandal Spin (Turley)

Hunter Biden has the prototypical resume of the progeny of the powerful in Washington. He seemed to land jobs far beyond his experience or proven skills. Most law school graduates work for six years just to make junior partner in a firm. Yet, directly out of law school in 1996, he was given a lucrative position with MBNA America, a bank that was not only a campaign contributor to his father but a business actively lobbying for lending changes in Congress. His father, then a powerful senator, supported changes that benefited the bank. Within a couple years of graduating, Hunter Biden amazingly ascended to the position of executive vice president. He was then given a position in the Commerce Department before he became an industry lobbyist.

In 2006, President Bush made him a member of the board of directors of Amtrak. No one seriously argued at the time that his resume even remotely qualified him for that position, any more than his assuming the board chairmanship of the United Nations World Food Program. At the time, Democratic Senator Tom Carper of Delaware explained that Hunter Biden was qualified to get on the board of Amtrak because “Hunter Biden has spent a lot of time on Amtrak trains.” Ignoring conflicts in the interview was no easy task. Kimmel made reference to Hunter’s struggle with drugs without noting that Hunter admits to being a crack addict all the way up to his father’s 2020 presidential election. Hunter left that off of his description of his work on Burisma.

While Hunter was claiming blackouts of memory due to his crack addiction, he was also claiming that he was a natural choice for the board of an major energy company. Burisma and other companies not only gave massive payments to someone without any notable skills or experience, they hired someone who was a drug addict who was, by his own account, a total trainwreck. However, he was hired for abilities and insights on energy and corporate management? Kimmel also helps out Hunter in his convenient lapses of memory. When asked, Hunter just shrugged and took a dig at Rudy Giuliani: ”I think, within my rights to question anything that comes from the desk of Rudy Giuliani. And so I don’t know is the answer.”

Read more …

Ha!

Who Is The Most Powerful Doctor In The World? (IP)

So who is the most powerful doctor in the world? Google tells you that it’s the Microsoft founder Bill Gates. We’re not kidding, you can try to search it yourself. The result is based on a 2017 article outlining Bill Gates’ “sway” over the World Health Organization. So why is Bill Gates listed as the most powerful doctor in the world when searched on Google? Since the keywords used in the query also appear in the headline of a Politico article titled “Meet the world’s most powerful doctor: Bill Gates,” which was published in 2017. That’s why, the Microsoft founder is listed as the top-ranking answer (even in snippet-results) of the Google search. Below is the excerpt from the Politico article: “Meet the world’s most powerful doctor: Bill Gates “

The software mogul’s sway over the World Health Organization spurs criticism about misplaced priorities and undue influence. If you look, Bill Gates’ name actually appear on majority of the results on the front page for this query. A user on Twitter wrote, “Who is the most powerful doctor? Google it. The results will shock you. Good morning” Another user said, “Google ‘who is the most powerful doctor in the world’, tell me what comes up, and then try to tell me I’m a conspiracy theorist.” “Why is it when you google the most powerful Doctor in the world Bill Gates pops up?,” a user on Twitter raised a question. One user attached the Politico article in his tweet and wrote, “Here is the reason why many think that Bill Gates is considered to be the most powerful doctor, when he is not. In Google, the most searched word, along with keywords always come at the top of the list.”


Not just Google: Many users pointed out that it’s not just Google but also Siri that gives you the same answer. It is because when you ask Siri the same question discussed in this article, then it will show you the same search results, the answer to which is Bill Gates. We are sure, if you ask the same question to other Voice assistants they will also give the same answer. A user tweeted, “Interestingly enough I asked Siri who is the most powerful doctor in the world she said Bill Gates, I then asked who was the most powerful medical doctor in the world, again Bill Gates… crazy!!”

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These things are flying again? Incredible.

Boeing Sounds Alarm On New Problem With 737 Max, Advises Grounding Again (RT)

Just a few months after Boeing’s 737 Max aircraft were allowed to return to the skies the company announced a new problem with the ill-fated jets, calling for dozens of planes to be grounded over issues with the electrical system. “Boeing has recommended to 16 customers that they address a potential electrical issue in a specific group of 737 MAX airplanes prior to further operations,” the Chicago-based manufacturer said in a statement on Friday. The multinational said it was working with the US Federal Aviation Administration (FAA) on the “production issue.” It also said that the problem doesn’t affect the entire fleet, but a specific group of planes. The company has pledged to provide further directions on “appropriate corrective actions.”


“The recommendation is being made to allow for verification that a sufficient ground path exists for a component of the electrical power system,” the corporation said.Boeing neither specified which 16 airlines are affected by this alert nor disclosed the number of planes with the problem. The Boeing 737 MAX passenger airliner made headlines after two nearly new planes crashed within five months. The fatal crashes, which occurred in Indonesia and Ethiopia, killed all 346 people on board. The incidents prompted a lengthy safety review and all the jets were grounded worldwide for 20 months, from March 2019 through November of 2020.

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Safe clean energy.

Dumping Fukushima Radioactive Water in Pacific is Now “Unavoidable” (Marat)

While Japan last month marked the 10th anniversary of the devastating 2011 Tohoku earthquake and tsunami with solemn ceremonies, the government has also been stressing the successes of its recovery efforts in the country’s northeast. In truth, however, the country is still coping with the aftermath of the Fukushima Daiichi disaster, which has already cost Japan trillions of yen and whose exclusion zone will require up to 40 more years to fully rehabilitate. And with contaminated water continuing to build up at the ruined Fukushima Daiichi Nuclear Power Plant, Prime Minister Yoshihide Suga says that the government must finally begin dumping it into the Pacific Ocean.

With nuclear waste and fuel rods still contaminating the area, over one million tons of radioactive waste water continue to seep from the facility, according to The Japan Times, forcing authorities into what Suga describes as the “unavoidable” position of having to dump the water. Officials claim that the water would be purified to the maximum extent possible, but environmentalist groups like Greenpeace warn that the water contains hazardous material that could damage human DNA and the health of marine life. Fishers also fear that consumers will refuse to buy fish caught in contaminated waters, worsening their plight amid a restriction of imports from Fukushima prefecture imposed by 15 countries and regions.

Regardless, authorities argue they must deal with the cards that have been dealt. “What to do with the [treated] water is a task that the government can no longer put off without setting a policy,” Japanese trade minister Hiroshi Kajiyama said on Wednesday. Suga is expected to formally decide on the course of action by next Tuesday. If he proceeds, authorities will dilute tritium to 2.5 percent of the maximum concentration allowed by the country before it is dumped.

Read more …

 

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Tucker Jimmy Dore AOC
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Dec 192020
 


Sergio Larraín Valparaiso Passage Bavestrello 1952

 

Facebook Joins Twitter In Reverting To Pre-Election News Feed Algorithms (RT)
Lawmakers Ask Whether Massive Hack Amounted To Act Of War (Hill)
California Reports Record COVID Cases and Deaths—Despite Strict Lockdown (FEE)
Research Suggests COVID19 Enters The Brain, May Be Autoimmune Disease (RT)
Trump Blasts John McCain After New Texts From FBI Lover Peter Strzok (DM)
Steele Dossier Was ‘Intended To Influence’ Media – Strzok (RT)
The Gyre Widens (Jim Kunstler)
When Deplorables Become Ungovernables (Escobar)
Peter Navarro Releases Report About The 2020 Presidential Election (JTN)
Tesla, the Largest-Cap Stock Ever to Enter S&P 500 (RA)
FDR Knew Exactly How to Solve Today’s Unemployment Crisis (Ellen Brown)
LeBron James To Be Appointed As Ambassador To China (BBee)

 

 

John Hussman:

 

 

Just in time delivery.

Facebook Joins Twitter In Reverting To Pre-Election News Feed Algorithms (RT)

Facebook has reversed its election-season policy of prioritizing mainstream media stories in News Feed after a similar move from Twitter. This is as Mark Zuckerberg is sued for allegedly helping tip the vote in favor of Joe Biden. An algorithm tweak that saw Facebook users deluged with mainstream media stories following last month’s elections has been reversed, the social media behemoth told the New York Times on Wednesday, insisting that the change – which significantly boosted traffic for establishment outlets like CNN, NPR, and the Times itself while suppressing alt-media and right-wing sites – was never meant to be permanent.

Boosting the importance of “news ecosystem quality,” essentially a reputational score applied to news outlets, was “a temporary change we made to help limit the spread of inaccurate claims about the election,” Facebook spokesman Joe Osborne told the outlet. He explained that the platform was still prioritizing so-called “authoritative and informative news” on “important global topics like elections, Covid-19 and climate change.” The tech giant opted to return to pre-election policies despite the protests of some employees who preferred the “nicer news feed,” sources present at one post-vote Facebook meeting claimed, describing the prioritization of establishment sources as one of several “break glass measures” designed for the care and feeding of a desirable post-election narrative.

Twitter also admitted that adding ‘context’ to its Trending section – which essentially turned the feature into a yawn-inducing list of mainstream media headlines accompanied by the ‘correct’ opinion users should have about them – made it “less relevant for many people’s interests.” Both platforms liberally applied “misinformation” warnings to content questioning the integrity of last month’s election results, despite allowing – even encouraging – users to question the legitimacy of 2016’s presidential election for years after the fact. Supporters of President Donald Trump cried foul, especially after dozens of the commander-in-chief’s own posts regarding alleged election fraud were censored, hidden, and otherwise suppressed.

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Twitter and Facebook will now deliver this sort of insanity.

Lawmakers Ask Whether Massive Hack Amounted To Act Of War (Hill)

Lawmakers are raising questions about whether the attack on the federal government widely attributed to Russia constitutes an act of war. The hacking may represent the biggest cyberattack in U.S history, and officials are scrambling to respond. The response is further complicated by the presidential transition — President Trump has yet to comment publicly on the attack — and the fact that the U.S. has no clear cyber warfare strategy. “We can’t be buddies with Vladimir Putin and have him at the same time making this kind of cyberattack on America,” Senate Minority Whip Dick Durbin (D-Ill.) said of the attack during an interview Wednesday on CNN. “This is virtually a declaration of war by Russia on the United States and we should take that seriously.”

Sen. Mitt Romney (R-Utah) on Thursday compared the incident to Russian bombers “flying undetected over the entire country,” and harshly criticized Trump for not doing enough to counter the attack. “Our national security is extraordinarily vulnerable,” Romney said on SiriusXM’s “The Big Picture with Olivier Knox.” “In this setting, not to have the White House aggressively speaking out and protesting and taking punitive action is really, really quite extraordinary.” Hackers believed to be part of a nation state have had access to federal networks since March after exploiting a vulnerability in updates to IT group SolarWinds’s Orion software. The hack has compromised the Treasury, State and Homeland Security departments and branches of the Pentagon, though it is expected to get worse. SolarWinds counts many more federal agencies as customers, along with the majority of U.S. Fortune 500 companies.

On Thursday, Politico reported that the Energy Department’s National Nuclear Security Administration, which maintains the nation’s nuclear weapons stockpile, was also compromised, further raising the stakes. Lawmakers say the scope of the attack, widely presumed to be by Russia, which has denied responsibility, demands some kind of response. “No response is not appropriate, and that’s been our national policy by and large for the past 10 or 15 years,” Sen. Angus King (I-Maine), the co-chair of the Cyberspace Solarium Commission (CSC), said during an event hosted by Defense One on Thursday. “I want somebody in the Kremlin, sitting around that table to say, ‘wait a minute boss, if we do this we are liable to get whacked in some way,’ and right now they are not making that calculus.”

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Time for questions. High time.

California Reports Record COVID Cases and Deaths—Despite Strict Lockdown (FEE)

Newsom’s decision to reimpose lockdowns in light of the evidence we have today has left some California public officials puzzled. “During the first Shelter in Place order, which I wholeheartedly endorsed, the virus was brand new and had the capability of spreading exponentially due to zero immunity and people’s complete lack of awareness,” San Mateo County Health Officer Scott Morrow recently observed on the county’s website. “[That order] was very much consistent with my long-held views about the judicious use of power.…However, I very quickly rescinded my initial orders shuttering society and focused my new orders on the personal behaviors that are driving the pandemic… .” Morrow implied that many of the actions being taken suggest California officials have learned little since the spring.

“Just because one has the legal authority to do something, doesn’t mean one has to use it, or that using it is the best course of action,” he wrote. “What I believed back in May, and what I believe now, is the power and authority to control this pandemic lies primarily in your hands, not mine.” Morrow was blunt in his appraisal of the restrictions being imposed across the Golden State. “I’m not sure we know what we’re doing,” he wrote. “I look at surrounding counties who have been much more restrictive than I have been, and wonder what it’s bought them.” Morrow appears to have gleaned an insight once observed by the economist Milton Friedman. “One of the great mistakes is to judge policies and programs by their intentions rather than their results,” Friedman famously observed.

With every passing week the results of government lockdowns become more clear. They cause tremendous and widespread harms—no one disagrees on this point—but the supposed benefits of the policies remain tenuous. Despite the bevy of evidence they possess, lawmakers continue to embrace restrictions because of bad incentives. The great economist Ludwig von Mises noted long ago that a great deal of modern social conflict is a struggle over who gets to design the world, individuals or authorities. Mises believed that individuals, if left to their own devices, would generally make rational decisions based on their own self interest. This is why he saw few things as dangerous as central planners who seek to supplant individual planning with their own (despite their knowledge limitations) in an effort to create a more perfect society.

“The planner is a potential dictator who wants to deprive all other people of the power to plan and act according to their own plans,” Mises wrote in Socialism: An Economic and Sociological Analysis. “He aims at one thing only: the exclusive absolute pre-eminence of his own plan.” The Washington Post reported yesterday that nearly 8 million Americans have slipped into poverty since summer. When one considers the damage government lockdowns have wrought compared to the positive results they’ve achieved, one begins to see why Mises saw the unchecked power of authorities as such a threat.

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Autoantibodies.

Research Suggests COVID19 Enters The Brain, May Be Autoimmune Disease (RT)

A new study by Yale University has found that critical Covid-19 patients disproportionately possess so-called ‘autoantibodies’ that weaponize their immune systems against them, making their condition far worse. Researchers used an advanced screening technique on 170 hospitalized patients to detect “autoantibodies” that inflict collateral damage on the patient by attacking their own organs and immune system as opposed to targeting the virus. They compared the antibodies to those who had milder or asymptomatic infections, as well as those who had not been infected. In the hospitalized Covid-19 patients, they found autoantibodies – such as interferons, natural killer cells, and T cells – that could disrupt the work of the body’s frontline immune system troops, which had essentially been made to defect to the enemy, on the viral side.

The presence of autoantibodies was repeatedly detected in the most critical Covid-19 patients, and tests on mice indicated that the autoantibodies likely exacerbated the disease. Unfortunately, the researchers did not find any Covid-19 specific autoantibodies that might alert medical staff to an impending, developing severe case of Covid-19 in patients. The mystery surrounding the varying severity of the disease remains, but the research suggests that people with pre-existing autoantibodies in their systems are likely at higher risk of a severe bout of Covid-19. The research, which has yet to be peer reviewed, supports the idea that, for some unfortunate patients at least, Covid-19 could well be considered an autoimmune disease triggered by the coronavirus.

Several previous studies revealed that patients without a history of autoimmune disease had been found to have developed these autoantibodies after contracting Covid-19. Elsewhere, other research found that patients with severe Covid-19 infections can also develop autoantibodies to interferons – another key component of humans’ ability to fight viral infections.

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Yes, sure, Durham is investigating, but…

Trump Blasts John McCain After New Texts From FBI Lover Peter Strzok (DM)

President Donald Trump has vented his fury at late Senator John McCain, following the release of newly declassified text messages from former FBI agent Peter Strzok indicating that McCain leaked the infamous ‘dirty dossier’ to legendary journalist Carl Bernstein.’Check out last in his class John McCain, one of the most overrated people in D.C.’ Trump tweeted late on Wednesday of the Arizona Republican who died of brain cancer in 2018, linking to a report on the new messages. The text messages, released by Republican Senators Ron Johnson and Chuck Grassley on Wednesday, include a January 9, 2017 exchange between Strzok and Lisa Page, then the FBI lawyer with whom he was having an affair.

‘Carl Bernstein (yes that Carl) called [Office of Public Affairs], said he got a ‘dossier’ from McCain,’ Strzok texted Page, who quickly replied: ‘Awesome, let Carl run it down then.’ McCain aide David Kramer has previously testified that he leaked British ex-spy Christopher Steele’s anti-Trump dossier to journalists including Bernstein. Bernstein, the former Washington Post reporter who broke the Watergate scandal alongside Bob Woodward, had a byline on the January 12, 2017 CNN report that revealed the existence of the so-called ‘dirty dossier’. The dossier, which included salacious allegations, was funded in part by Hillary Clinton’s campaign and the Democratic National Committee. Some of its allegations have been discredited, and others remain unproven.

The dossier became a key piece of intelligence under-girding Strzok’s ‘Crossfire Hurricane’ FBI probe into whether the Trump campaign colluded with Russia to interfere in the 2016 election. Strzok, who also ran the FBI’s ‘Midyear Exam’ probe into Clinton’s private email server, later joined Special Counsel Robert Muller’s team, along with Page. Both Strzok and Page left the FBI in disgrace after their secret love affair was discovered by supervisors. Mueller’s probe failed to prove Russian collusion with the Trump campaign. The legality of the origins of the Trump-Russia investigation is now the subject of a separate probe, led by US Attorney John Durham, who himself was appointed as a special counsel earlier this month.

The new text messages revealed on Wednesday also suggest that the FBI’s Trump-Russia probe was opened earlier that has been officially admitted. A Justice Department Inspector General report in December 2019 claimed that the FBI opened its Trump-Russia investigation on July 31, 2016, after receiving a tip from an Australian diplomat. However, a Stzrok text message to Page on July 28, 2017, the same day the Australian tip was received, says he wants to discuss ‘[o]ur open C[ounter-]I[ntelligence] investigations relating to Trump’s Russian connections’.

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“I would definitely say at a minimum Steele’s reports should be viewed as intended to influence as well as to inform.”

Steele Dossier Was ‘Intended To Influence’ Media – Strzok (RT)

A report filled with unverified claims about Donald Trump that prompted a probe into his alleged ties to Russia, was tailored to score points with the press, ex-FBI agent Peter Strzok suggests, in a recently declassified message. Senate Republicans on Thursday released a new batch of text messages from Strzok, who was fired by the FBI in 2018 after internal communications showed that he wanted to use the agency’s investigation into Russian collusion as an “insurance policy” to attack Trump if he won the White House. In one newly revealed message dated September 23, 2016, Strzok appears to acknowledge that the dodgy dossier compiled by former British spy Christopher Steele, and later used by the FBI to obtain warrants to spy on the Trump campaign, could at the very least be used to create a media narrative.

Referring to a Yahoo article based on an unnamed source that alleged Trump campaign adviser Carter Page attended a secret summit in Moscow with two Kremlin insiders, Strzok wrote: “I would definitely say at a minimum Steele’s reports should be viewed as intended to influence as well as to inform.” The FBI ended its relationship with Steele after it became clear that he was leaking information to the press. However, the agency failed to inform the Foreign Intelligence Surveillance Court (FISC) that Steele had been a source for the Yahoo article, which was used to corroborate the dossier and obtain a warrant to spy on Page. In January 2020, a court ruled that two of the four warrant applications submitted by the FBI to snoop on Page were “invalid.”

Another newly-released Strzok message, from January 12, 2017, shows that the FBI recorded a phone call between former Trump campaign foreign policy adviser George Papadopoulos and an unnamed executive at Fox News. Notably, the Justice Department never obtained a warrant to spy on Papadopoulos or Fox, and likely used a so-called National Security Letter to carry out the surveillance.

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“..America’s own domestic enemies, who must be neutralized first before we’re capable of dealing with outsiders..”

The Gyre Widens (Jim Kunstler)

The trouble is, Mr. Trump actually does have the evidence, and he intends to use it after four years of being remorselessly fucked around by his antagonists. So, the nation is at the point in this long, winding drama that has become a fight to the death and there will be no rituals of torch-passing just to keep up appearances that everything is functioning normally. Mr. Trump has the evidence of widespread, yes widespread, ballot fraud. He is the president, after all, and he has all the information. As he’s said more than once, he’s caught them all. And they know it. Of course, the CIA and the FBI, those pillars of the Intel Community, are still trying to withhold what they can, but the president is not having it.

He’s taking away the CIA’s most precious asset: its resources for making mischief on-the ground — its airplane fleet and its armaments, handing them over to the Pentagon — reducing the CIA to the simple task of analyzing signals from the world scene. And so, the CIA has been refusing to cooperate with the Director of National Intelligence, John Ratcliffe, as a last gasp to preserve its long-running illicit prerogatives. That will eventually trigger the president’s invocation of the 2018 Executive order 13848, allowing, at long last, the arrest and prosecution of many desperate characters who tried to run away with the US Government. But probably not before the last legal avenues have been traveled: Sidney Powell’s case against the Dominion vote system in the Supreme Court, a long-shot like all the other cases that the court is loath to touch..

[..] and the business of the alternate electoral college slates to be hashed out in the Senate on January 6, Vice-President Mike Pence, presiding. Democrats and their coastal elite supporters are not going to like it. If they call out their Antifa troops, those feckless weenies with their hoisted cell phones and stupid umbrellas are going to be crushed this time, not indulged like three-year-olds. The wild-card all of a sudden is what the nation will also do about the foreign actors reportedly messing around with the government’s most critical computer systems. China? Iran? Russia? They’re a match for America’s own domestic enemies, who must be neutralized first before we’re capable of dealing with outsiders. The gyre widens.

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“The error was to steal too many votes. This grand theft indicts the whole system, that has always been corrupt.”

When Deplorables Become Ungovernables (Escobar)

China, Russia and Iran are the top three existential “threats” to the U.S., according to the National Security Strategy. Three features distinguish the top three. They are all sovereign powers. They are under varying degrees of sanctions. And they are the top three nodes of the 21st century’s most important, evolving geopolitical process: Eurasia integration. What do the three sovereigns see when they examine the dystopia that took over Exceptionalistan? They see, once again, three – discombobulated – nodes in conflict: 1) the post-historic Pacific and Atlantic coasts; 2) the South – a sort of expanded Dixieland; and 3) the Midwest – what would be the American heartland.

The hyper-modern Pacific-Atlantic nodes congregate high-tech and finance, profit from Pentagon techno-breakthroughs and benefit from the “America rules the waves” ethos that guarantees the global primacy of the U.S. dollar. The rest of America is largely considered by the Pacific-Atlantic as just a collection of flyover states: the South – which regards itself as the real, authentic America; and the Midwest, largely disciplined and quite practical-minded, squeezed ideologically between the littoral powerhouses and the South. Superstructure, though, is key: no matter what happens, whatever the fractures, this remains an Empire, where only a tiny elite, a de facto plutocratic oligarchy, rules.

It would be too schematic, even though essentially correct, to assert that in the presidential election, invisible campaigner Joe Biden represented the Pacific-Atlantic nodes, and Trump represented the whole South. Assuming the election was not fraudulent – and that remains a big “if” – the Midwest eventually swung based on three issues. 1) Trump, as much as he relied on a sanctions juggernaut, could not bring back manufacturing jobs home. 2) He could not reduce the military footprint across the Greater Middle East. 3) And, before Covid-19, he could not bring down immigration. Everything that lies ahead points to the irreconcilable – pitting the absolute majority that voted Dem in the Atlantic-Pacific nodes versus the South and a deeply divided Midwest. As much as Biden-Harris is bound to isolate the South even more, their prospects of “pacifying” the Midwest are less than zero.

Whose ground control? Beyond the raucous altercations on whether the presidential election was fraudulent, these are the key factual points. 1) A series of rules in mostly swing states were changed, through courts, bypassing state legislatures, without transparence, before the election, paving the way to facilitate fraud schemes. 2) Biden was de facto coronated by AP, Google and Twitter even before the final, official result, and weeks before the electoral college vote this past Monday. 3) Every serious, professional audit to determine whether all received and tabulated votes were valid was de facto squashed. In any Global South latitude where the empire did “interfere” in local elections, color revolution-style, this set of facts would be regarded by scores of imperial officials, in a relentless propaganda blitz, as evidence of a coup.

On the recent Supreme Court ruling, a Deep State intel source told me, “the Supreme Court did not like to see half the country rioting against them, and preferred the decision be made by each state in the House of Representatives. That is the only way to handle this without jeopardizing the union. Even prominent Democrats I know realize that the fix took place. The error was to steal too many votes. This grand theft indicts the whole system, that has always been corrupt.”

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‘The Immaculate Deception’

Peter Navarro Releases Report About The 2020 Presidential Election (JTN)

Dr. Peter Navarro released a report on Thursday related to the 2020 election titled “The Immaculate Deception: Six Key Dimensions of Election Irregularities.” “From the findings of this report, it is possible to infer what may well have been a coordinated strategy to effectively stack the election deck against the Trump-Pence ticket,” the report states. “Indeed, the observed patterns of election irregularities are so consistent across the six battleground states that they suggest a coordinated strategy to, if not steal the election outright, strategically game the election process in such a way as to ‘stuff the ballot box’ and unfairly tilt the playing field in favor of the Biden-Harris ticket.” The report argues that the election results could shift to a win for President Trump, even if just some of the ballots related to “identified election irregularities” were tossed out as unlawful.


“The ballots in question because of the identified election irregularities are more than sufficient to swing the outcome in favor of President Trump should even a relatively small portion of these ballots be ruled illegal,” the report states. Navarro, who advises President Trump as the Director of the Office of Trade and Manufacturing Policy, hosted a call on Thursday “in his capacity as a private citizen” to speak about his findings, according to a press release. The report warns that without a rigorous investigation, many Americans will consider a Joe Biden presidency to be illegitimate: “Absent a thorough investigation prior to Inauguration Day, a cloud and a stain will hang over what will be perceived by many Americans as an illegitimate Biden administration,” the report says.

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“By the close of trading on December 21, index funds, ETFs, and other index-tracking strategies will have purchased Tesla shares valued at nearly $220 billion..”

Tesla, the Largest-Cap Stock Ever to Enter S&P 500 (RA)

Tesla is entering the S&P 500 with a stupendously high valuation and will likely be ranked sixth in the index. Traditional cap-weighted indices, such as the S&P 500, are structured to buy high and sell low—and Tesla is a prime example of this maxim. The eightfold increase in Tesla’s share price since its March low meets our two-part definition of a bubble: 1) implausible assumptions are needed to justify its valuation, and 2) buyer interest is based on a great narrative rather than being supported by a conventional valuation model. Our research shows that a continuation of Tesla’s 2020 share-price performance is vulnerable on two additional fronts: 1) as a top-dog stock (top 10 market-cap stocks), the odds are against its remaining a top-dog stock, and 2) as an addition to the S&P 500, history indicates it is likely to underperform the market (S&P 500) in the year after entry.

[..] On November 16, S&P Dow Jones Indices announced that Tesla will (finally) join the prestigious S&P 500 Index on December 21. From the beginning of 2020 to the announcement date, Tesla’s share price rose 400% from $83.67 to $408.09. Most of that run-up occurred after the media began speculating in March about Tesla’s likely addition to the index. From the announcement date through December 7, Tesla’s share price rose another 49% to $608.32. That’s an eightfold increase from its March low. Given Tesla’s very large market-cap, the US Index Committee, which maintains the S&P 500, did consider a gradual transition into the index rather than adding the company’s full weight at one time.

Currently about $11 trillion in assets track the index,1 and a substantial portion will seek to buy Tesla at the exact closing price on December 21. On December 1 the Index Committee announced that Tesla will be added all in one go, which prompted another 10% share-price increase the following week. The result is that founder Elon Musk now has the second-largest fortune in history. For now, only Jeff Bezos, founder of Amazon, is wealthier. Tesla will be the largest stock to enter the S&P 500 in the history of the index, by both rank (likely the sixth largest company in the index2) and absolute market capitalization ($608 billion as of the December 7, 2020, market close). By the close of trading on December 21, index funds, ETFs, and other index-tracking strategies will have purchased Tesla shares valued at nearly $220 billion, most seeking to trade at the opening price.

To make way for this purchase, these funds and strategies will sell a similar dollar amount from the other 505 stocks in the index (corporate actions have pushed the number of S&P 500 holdings to 505 names). At well under 1% of the outstanding market-cap of these companies, the requisite sales are not likely to precipitate major price moves. Because Tesla’s addition to the index is not a secret, we can comfortably surmise that hedge fund managers and other liquidity suppliers have already stockpiled most of the $220 billion and are ready to supply the shares to the indexers for this largest single trade in history. What does it all mean for investors?

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“A self-funding national infrastructure bank..”

FDR Knew Exactly How to Solve Today’s Unemployment Crisis (Ellen Brown)

A self-funding national infrastructure bank modeled on the “American System” of Alexander Hamilton, Abraham Lincoln, and Franklin D. Roosevelt would help solve not one but two of the country’s biggest problems. Millions of Americans have joined the ranks of the unemployed, and government relief checks and savings are running out; meanwhile, the country still needs trillions of dollars in infrastructure. Putting the unemployed to work on those infrastructure projects seems an obvious solution, especially given that the $600 or $700 stimulus checks Congress is planning on issuing will do little to address the growing crisis. Various plans for solving the infrastructure crisis involving public-private partnerships have been proposed, but they’ll invariably result in private investors reaping the profits while the public bears the costs and liabilities. We have relied for too long on private, often global, capital, while the Chinese run circles around us building infrastructure with credit simply created on the books of their government-owned banks.

Earlier publicly-owned U.S. national banks and U.S. Treasuries pulled off similar feats, using what Sen. Henry Clay, U.S. statesman from 1806 to 1852, named the “American System” – funding national production simply with “sovereign” money and credit. They included the First (1791-1811) and Second (1816-1836) Banks of the United States, President Lincoln’s federal treasury and banking system, and President Franklin Roosevelt’s Reconstruction Finance Corporation (RFC) (1932-1957). Chester Morrill, former Secretary of the Board of Governors of the Federal Reserve, wrote of the RFC: [I]t became apparent almost immediately, to many Congressmen and Senators, that here was a device which would enable them to provide for activities that they favored for which government funds would be required, but without any apparent increase in appropriations. . . . [T]here need be no more appropriations and its activities could be enlarged indefinitely, as they were, almost to fantastic proportions.

Even the Federal Reserve with its “quantitative easing” cannot fund infrastructure without driving up federal expenditures or debt, at least without changes to the Federal Reserve Act. The Fed is not allowed to spend money directly into the economy or to lend directly to Congress. It must go through the private banking system and its “primary dealers.” The Fed can create and pay only with “reserves” credited to the reserve accounts of banks. These reserves are a completely separate system from the deposits circulating in the real producer/consumer economy; and those deposits are chiefly created by banks when they make loans. New liquidity gets into the real economy when banks make loans to local businesses and individuals; and in risky environments like that today, banks are not lending adequately even with massive reserves on their books.

A publicly-owned national infrastructure bank, on the other hand, would be mandated to lend into the real economy; and if the loans were of the “self funding” sort characterizing most infrastructure projects (generating fees to pay off the loans), they would be repaid, canceling out the debt by which the money was created. That is how China built 12,000 miles of high-speed rail in a decade: credit created on the books of government-owned banks was advanced to pay for workers and materials, and the loans were repaid with profits from passenger fees. Unlike the QE pumped into financial markets, which creates asset bubbles in stocks and housing, this sort of public credit mechanism is not inflationary. Credit money advanced for productive purposes balances the circulating money supply with new goods and services in the real economy. Supply and demand rise together, keeping prices stable. China increased its money supply by nearly 1800% over 24 years (from 1996 to 2020) without driving up price inflation, by increasing GDP in step with the money supply.

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“Colin Kaepernick was also floated but ultimately didn’t get picked.”

LeBron James To Be Appointed As Ambassador To China (BBee)

The incoming Biden administration has floated LeBron James as its ambassador to China, sources learned today. James says he’s “excited” to be able to once again normalize relations between the two countries and make sure that the United States doesn’t do anything to upset the world power, like call attention to its slave labor camps and poor conditions for workers, or the fact that it unleashed a deadly virus on the globe. “LeBron will do a great job ensuring we do everything China wants us to,” said Joe Biden. “He’s a great football player, one of the best. In my day, the leagues were segregated, but that’s all behind us now. You know, I played a little pigskin in my day. You know why they call it pigskin? Well, we used to cook up a little bacon and some pulled pork, and we’d take the leftover pig and roll it up in a little ball and start hucking it at one another, as was the style in those days.” Colin Kaepernick was also floated but ultimately didn’t get picked.

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