Apr 102019
 
 April 10, 2019  Posted by at 8:59 am Finance Tagged with: , , , , , , , , , , , ,  


Marcel Duchamp The chess game 1910

 

Putin Derangement Syndrome After Mueller (SCF)
‘Mountain Brought Forth A Mouse’: Putin On Mueller Report (RT)
Same People Behind Iraq War Lies Pushed Russian Collusion (Kelly)
May’s Hopes Dashed As EU Targets Brexit Delay Of Up To A Year (G.)
UK Finance Minister Says Lawmakers Might Revoke Brexit To Prevent No Deal (R.)
Democracy Is Overrated – Let The Queen Sort Out Brexit (Jan Fleischhauer)
Brexit Explained In Two Words: Basil Fawlty (G.)
IMF Says No-Deal Brexit Risks Two-Year Recession For UK (G.)
China To Join FAA’s Review Panel On Boeing’s 737 MAX (R.)
Boeing Shareholders Sue Over 737 MAX Crashes (R.)
India’s Modi Rides Nationalist Fervor Ahead Of Election (R.)
Two-Thirds Of Glacier Ice In The Alps ‘Will Melt By 2100’ (G.)

 

 

Like this. Contains dozens of links in the original.

Putin Derangement Syndrome After Mueller (SCF)

The West – its governments and its governments’ scribes – are obsessed with Russian President Vladimir Putin. “Obsessed” is probably too weak a word to describe the years of impassioned coverage, airy speculation and downright nonsense. He is the world’s leading cover boy: military hats, Lenin poses, imperial crowns, scary red eyes, strait-jackets, clown hats; anything and everything. He’s the avatar of Stalin, he’s the avatar of the Tsars, he’s the Joker, he’s Cthulhu, he’s Voldemort, he’s Satan. He’s the palimpsest for the New World Order’s nightmares. Putin is always messing with our minds. He weaponises information, misinformation and sexual assault accusations. Childrens’ cartoons, fishsticks, Pokemon and Yellow Vests, “Putin’s warships” are lurking when they aren’t stalking; “Putin’s warplanes” penetrate European airspace; “Putin’s tanks”, massing in 2016, massing in 2018, still massing. His empire of rogue states grows. All Putin, all the time.


[..] The entire ramshackle construction is collapsing: if Mueller says there was no collusion then even the last ditch believers will have to accept it: Robert Mueller Prayer Candles are out of stock, time to toss the other tchotchkes, it wasn’t a Mueller Christmas after all. Clinton’s fabrication had two parts to it: 1) Putin interfered/determined the election 2) in collusion with Trump. When the second part is blown up, so must the first be. And then what will happen to all the loyal little allies crying “ours were interfered with too”!? The two halves of the story had the same authors and the same purpose: if one dies, so must the other. Now that Trump is secured from the obstruction charges that hung there as long as Mueller was in session, he is free to declassify the background documents that will show the origin, mechanics, authors and extent of the conspiracy. And he has said he will. In the process, both halves of the story will be destroyed: they’re both lies.

Read more …

Can we get back to talking now? Don’t hold your breath.

‘Mountain Brought Forth A Mouse’: Putin On Mueller Report (RT)

The Mueller probe has caused much fuss but predictably did not find any evidence to prove Donald Trump colluded with Russia, Vladimir Putin has said, sarcastically likening it to a “mountain bringing forth a mouse.”
“We said from the very beginning that this Mueller commission will find nothing because we know it better than anyone: Russia did not meddle in any US election, there was no collusion between [US President Donald] Trump and Russia that Mr. Mueller was looking for,” Putin told the International Arctic Forum on Tuesday.


Taking a lighter tone, the president said that the outcome was predictable, likening it to “a mountain that has brought forth a mouse.” According to Putin, US President Donald Trump “knows better what witch hunts are.” This was “a dark chapter in American history,” and no one wants to see it “come back.” The long-awaited report from the Mueller probe was submitted in late March to Attorney General William Barr. The inquiry specifically targeted alleged collusion between Trump’s 2016 presidential campaign team and Moscow. However, its key conclusions mentioned no evidence of a conspiracy.

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This is the same as me saying Trump’s enemies are the same as Assange’s enemies.

Same People Behind Iraq War Lies Pushed Russian Collusion (Kelly)

In between the two scandals was more than a decade of recriminations against once-trusted experts on the Right who led our nation into battle. The Iraq war cost the lives of more than 4,400 U.S. troops, maimed tens of thousands more and resulted in an unquantifiable amount of emotional, mental, and physical pain for untold numbers of American military families. Suicide rates for servicemen and veterans have exploded leaving thousands more dead and their families devastated. And it has cost taxpayers more than $2 trillion and counting. So, these discredited outcasts thought they found in the Trump-Russia collusion farce a way to redeem themselves in the news media and recover their lost prestige, power, and paychecks.

After all, it cannot be a mere coincidence that a group of influencers on the Right who convinced Americans 16 years ago that we must invade Iraq based on false pretenses are nearly the identical group of people who tried to convince Americans that Donald Trump conspired with the Russians to rig the 2016 election, an allegation also based on hearsay and specious evidence. It cannot be an innocent mistake. It cannot be explained away as an example of ignorance in the defense of national security or democracy or human decency. It cannot be justified as a mere miscalculation based on the “best available information at the time” nor should we buy any of the numerous excuses that they offered up to rationalize the war.

So why did they do it? Why did Kristol, McCain, Frum, Boot, et. al., dive headlong and without shame into a domestic political war with just as much thoughtless braggadocio as they brought to the disastrous Iraq war? Clearly, this war did not have the same deadly results as the war in Iraq but, nonetheless, it fueled an unprecedented degree of anger and division among our countrymen and toward our new president. It ensnared innocent people who suffered real-life consequences, their fate grotesquely cheered by these mendacious fraudsters. Why?

If you had the blood of so many young Americans and more than 100,000 Iraqis on your hands because you peddled a lie, wouldn’t you be a tad more cautious before repeating that kind of mistake? If you assured Americans that the Iraq war would last just a few months, as Bill Kristol said in 2002, but instead it ended up lasting eight years, wouldn’t you be chastened about making more predictions? If your actions led directly to the election of a Democratic president who launched his winning campaign based on your egregious failures, wouldn’t you hesitate before inserting yourself in another scandal that gave fodder to your political opponents at your expense?

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The EU has zero reason to grant another short delay. Nothing has changed.

May’s Hopes Dashed As EU Targets Brexit Delay Of Up To A Year (G.)

Theresa May’s request for a short Brexit delay has been torn up, putting the EU on track to instead extend Britain’s membership until 2020.Despite the prime minister’s desperate dash to Paris and Berlin to convince leaders of her plan to break the Brexit impasse, the European council president, Donald Tusk, signalled EU politicians’ lack of faith in her cross-party talks. Against a backdrop of growing support among the EU27 for a lengthy Brexit delay, Tusk picked apart May’s appeal for a shorter delay to 30 June in a letter to the leaders inviting them to Wednesday’s summit, where they will agree the new end date.


An EU diplomat said on Tuesday, following a late-night meeting of ambassadors, that the two end dates crystallising in EU capitals were the end of December or the end of March 2020. A cabinet source voiced doubts over whether May could survive after presiding over such a long delay to Brexit, after previously having said she could not “as prime minister” accept a longer delay than 30 June. The source said some in No 10 now accept it is nearly game over and described all options as very difficult for the prime minister, raising questions about whether she can keep her warring party together much longer. May is facing a bitter backlash within her party over the likelihood of a long delay to Brexit and participation in EU elections, especially if that leads to any sort of deal with Labour involving a customs union.

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May was very careless in signing Article 50 when she did. But it made the Brexiteers happy.

UK Finance Minister Says Lawmakers Might Revoke Brexit To Prevent No Deal (R.)

British finance minister Philip Hammond raised the prospect of lawmakers revoking Article 50 this week rather than allowing Britain to leave the European Union without a deal if talks collapse, the Telegraph reported on Tuesday. Hammond warned that the value of the pound could fall significantly if Prime Minister Theresa May fails to reach agreement on a Brexit delay with Brussels, the Telegraph said. He made the comments during a meeting on Tuesday with other ministers in which various scenarios were discussed, the paper said, without citing sources. May invoked Article 50 to give notice that Britain was leaving the EU over two years ago, but the details of how, when and even if Brexit will happen are still far from clear.

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From Der Spiegel columnist.

“When she was born, the British empire stretched from Newfoundland to Papua New Guinea and covered almost a quarter of the world’s population. Today, Britain is a lovely island in the middle of the North Sea..”

Democracy Is Overrated – Let The Queen Sort Out Brexit (Jan Fleischhauer)

From Germany, it looks like the UK monarch is in the perfect position – after all, she has always responded to crises with dignity …

If there is someone who still reacts in the most difficult situations with dignity and decency, it is Queen Elizabeth II. I mean, this is the woman who survived Hitler and his V2s, the Great Smog, the “winter of discontent” and all the other trials and tribulations of her kingdom over the last nine decades. Surely, some well-placed words from her and this whole mess can be resolved. I often wonder how, sitting in Buckingham Palace, the Queen views the situation. When she was born, the British empire stretched from Newfoundland to Papua New Guinea and covered almost a quarter of the world’s population. Today, Britain is a lovely island in the middle of the North Sea that is rapidly becoming the size of Iceland in terms of political importance.

What does the Queen think of people who blithely painted a nation’s future in the rosiest colours and are now surviving from day to day? Royal courts traditionally indulged clowns who were permitted to make fools of them. But no self-respecting monarch would have come up with the idea of entrusting the fool with the fate of the country. I know there are narrow limits to the power of the Queen in a constitutional monarchy. But if you ask John Bercow to take a close look at the archives, he may find a precedent – moments when the power of government was transferred to the Queen when the country’s destiny is on the line. That’s the advantage of looking back on a few centuries of monarchist tradition: somewhere there is always a clause that legitimises you.

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“At moments, we all wish to retreat to an imaginary place: a womb with a view, if you will.”

Brexit Explained In Two Words: Basil Fawlty (G.)

In a crumbling edifice, a farce plays out. The hapless central character fawns on an aristocrat who turns out to be a conman. He then fails to disguise his unease when confronted with his European neighbours, doesn’t bother to mask a thorough contempt for the Irish, and enters a love-hate relationship with ostentatiously wealthy Americans. Meanwhile, there are questions over food safety and supply (specifically kippers, duck and veal cutlets) as workers scurry around trying to pretend that nothing out of the ordinary is happening. Always disaster hovers at the edge of vision.


[..] Fawlty Towers was, above all, an ensemble piece about isolation. It was a portrait of rage and frustration, an exploration of the impotence that results when the world as we wish it to be is so agonisingly at odds with the world as it is. It was the Brexit mindset incubating in the shabby surroundings of a down-at-heel hotel that had seen far better days. [..] Fawlty Towers now appears to have something of the downright prophetic about it. But let’s try to extract a moment of hope for these bleak times. In the end, whether clonked by a moose’s head, thrashing a recalcitrant car with a branch, derailed by a drunken Greek chef or outwitted by a wily Irish builder, Basil doesn’t get his way. His peculiar aspirations are curtailed and forced to conform to the realities of a complex, nuanced world.

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2-3-5-10-25, the IMF doesn’t know more than you and I.

IMF Says No-Deal Brexit Risks Two-Year Recession For UK (G.)

Britain’s already struggling economy would be pushed into a two-year recession by a no-deal Brexit, the International Monetary Fund has warned. Ahead of Theresa May’s plea to EU leaders for a further delay to Britain’s departure, the IMF used a downbeat half-yearly assessment of the global economy to predict that the UK economy could be 3.5% smaller than expected by 2021 if trade barriers were swiftly erected. The World Economic Outlook – completed in March before the latest developments in Brexit – predicted UK growth of 1.2% in 2019 on the assumption that a Brexit deal is done.


Growth in 2020 has also been revised down – by 0.1 points to 1.4% – since the fund’s last WEO in October, but the IMF said its projections were surrounded by uncertainty. It said there were alternative no-deal scenarios in which the UK would be hit by trade barriers, customs delays, barriers to financial services firms and the loss of preferential access to non-EU countries under trade deals negotiated by Brussels. The impact of these would be enough to cause output to decline in 2019 and 2020. It stressed that “a no-deal Brexit that severely disrupts supply chains and raises trade costs could potentially have large and long-lasting negative impacts on the economies of the United Kingdom and the European Union”.

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They’ll bring their Huawei phones I’m sure.

China To Join FAA’s Review Panel On Boeing’s 737 MAX (R.)

China has decided to accept an invitation to join the U.S. Federal Aviation Administration’s (FAA) review panel on the Boeing 737 MAX, an official at the Chinese aviation regulator said on Tuesday. The FAA said last week it was forming an international team to review the safety of the aircraft, grounded worldwide following two deadly crashes – in Indonesia in October and in Ethiopia last month – that killed nearly 350 people. China was the first to ground the newest version of Boeing’s workhorse 737 model last month following the Ethiopian Airlines crash, prompting a series of regulatory actions by other governments worldwide.


The Civil Aviation Administration of China (CAAC) has decided to send experts to be part of the FAA panel, the official, in the regulator’s media relations department, told Reuters. The CAAC said last week that it has been invited to join the panel. Chinese airlines operated 97 of the 371 737 MAX jets in service before the grounding, the most of any country, according to Flightglobal data. Canada, the United Arab Emirates, and Singapore have already confirmed that they will join the panel. The European Aviation Safety Agency did not respond immediately to a request for comment on whether it would join the panel.

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Wait till the victims’ families start suing.

Boeing Shareholders Sue Over 737 MAX Crashes (R.)

Boeing Co’s legal troubles grew on Tuesday as a new lawsuit accused the company of defrauding shareholders by concealing safety deficiencies in its 737 MAX planes before two fatal crashes led to their worldwide grounding.The proposed class action filed in Chicago federal court seeks damages for alleged securities fraud violations, after Boeing’s market value tumbled by $34 billion within two weeks of the March 10 crash of an Ethiopian Airlines 737 MAX. Chief Executive Dennis Muilenburg and Chief Financial Officer Gregory Smith were also named as defendants.


According to the complaint, Boeing “effectively put profitability and growth ahead of airplane safety and honesty” by rushing the 737 MAX to market to compete with Airbus SE, while leaving out “extra” or “optional” features designed to prevent the Ethiopian Airlines and Lion Air crashes. It also said Boeing’s statements about its growth prospects and the 737 MAX were undermined by its alleged conflict of interest from retaining broad authority from federal regulators to assess the plane’s safety. Richard Seeks, the lead plaintiff, said Boeing’s compromises began to emerge after the Ethiopian Airlines crash killed all 157 onboard, five months after the Lion Air crash killed 189.

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900 million voters. 4x US?! Did Modi antagonize Pakistan to boost his chances?

India’s Modi Rides Nationalist Fervor Ahead Of Election (R.)

India’s prime minister is rallying his nationalist base as the world’s biggest democracy begins a general election on Thursday, but it has become tighter than anticipated, thanks to dwindling incomes for farmers and scarce jobs. Polls predict Narendra Modi’s Bharatiya Janata Party-led (BJP) alliance will just win a parliamentary majority, a sharp drop from his commanding mandate five years ago, when he vowed to turn India into an economic and military power. But his government’s inability to create a million jobs every month, and ease farmers’ distress over low product prices, has taken the shine off what is still the world’s fastest growing major economy.

From sugar farmers in northern Uttar Pradesh going unpaid for produce, to small businesses in the south shut because they are unable to meet the requirements of a new, unifying national tax, discontent has brewed for months. “The election has become a lot closer than we think, sitting in Delhi,” said Nilanjan Mukhopadhyay, author of a Modi biography and books on Hindu nationalist groups. “There is anger and disillusionment in the countryside.” In December, alarm bells rang for Modi’s Hindu nationalists after it lost three key states to the main opposition Congress and its allies, led by Rahul Gandhi. But a surge in tension with traditional foe Pakistan in February has pushed Modi ahead, as he projects himself as a defender of national security and paints his rivals as weak-kneed, sometimes even questioning their patriotism.

“People were very unhappy, angry that Modi makes tall promises and doesn’t deliver,” said Shiv Chandra Rai, an Uber driver in the commercial capital of Mumbai. “Everyone said there are no jobs, everywhere farmers are struggling. But on this issue of Pakistan we are confused now. Some people feel we have to vote for Modi on this issue, it is a national problem.” Modi ordered air strikes on a suspected camp of a militant group in Pakistan after it claimed responsibility for a deadly bombing in Indian Kashmir, launching the first such raid since the neighbors’ last war in 1971. The nuclear-armed foes engaged in a dogfight after Pakistan sent warplanes into India the next day. They also threatened each other with missile strikes, before Western powers, led by the United States, pulled them back.

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So many millions of Europeans who depend on the Alps for drinking water.

Two-Thirds Of Glacier Ice In The Alps ‘Will Melt By 2100’ (G.)

Two-thirds of the ice in the glaciers of the Alps is doomed to melt by the end of the century as climate change forces up temperatures, a study has found. Half of the ice in the mountain chain’s 4,000 glaciers will be gone by 2050 due to global warming already baked in by past emissions, the research shows. After that, even if carbon emissions have plummeted to zero, two-thirds of the ice will still have melted by 2100. If emissions continue to rise at the current rate, the ice tongues will have all but disappeared from Alpine valleys by the end of the century. The researchers said the loss of the glaciers would have a big impact on water availability for farming and hydroelectricity, especially during droughts, and affect nature and tourism.


“Glaciers in the European Alps and their recent evolution are some of the clearest indicators of the ongoing changes in climate,” said Daniel Farinotti, a glaciologist at ETH Zurich in Switzerland and one of the research team. “In the pessimistic case, the Alps will be mostly ice-free by 2100, with only isolated ice patches remaining at high elevation, representing 5% or less of the present-day ice volume,” said Matthias Huss, a senior researcher at ETH Zurich. In February, a study found that a third of the huge ice fields in Asia’s towering mountain chains were also doomed to melt because of climate change, with serious consequences for almost 2 billion people downstream. Glaciers along the Hindu Kush and Himalayan range are at higher, colder altitudes, but if global carbon emissions are not cut, two-thirds of their ice will melt by 2100.

Read more …

Sep 212018
 
 September 21, 2018  Posted by at 9:09 am Finance Tagged with: , , , , , , , , , , ,  


Vincent van Gogh Green field 1888

 

Global Economic Growth Has Peaked, Warns OECD (G.)
Why Trump’s Stock Market Cheering Is Dangerous (Colombo)
Post Crisis Measures Have Failed To Tame Derivatives Risks (Yves Smith)
Woodward: “No Evidence Of Trump-Russia Collusion, I Looked Hard” (DV)
Brexit: It’s A Border In The Irish Sea Or The Customs Union (G.)
Emmanuel Macron Calls Brexit Campaign Leaders ‘Liars’ (Ind.)
‘Not Enough Time’ To Hold Referendum On Final Deal Before Brexit Day (G.)
Historical Monuments and Museums Moved to Greece’s Privatization Fund (KTG)
Propping Up Glaciers To Avoid Cataclysmic Sea Level Rise (AFP)
558 Million-Year-Old Fossils Identified As Oldest Known Animal (G.)
Assange’s Last Interview Before Blackout (RT)

 

 

Presented as a surprise.

Global Economic Growth Has Peaked, Warns OECD (G.)

The west’s leading economic thinktank has warned that the expansion in the global economy may have peaked after cutting its growth forecasts for an array of rich and developing countries. In its latest update on the health of the world economy, the Organisation for Economic Cooperation and Development said the outlook for both 2018 and 2019 was less good than it had predicted in May. The Paris-based OECD called for immediate action to halt the “slide towards protectionism”, noting that trade tensions were already having an impact on confidence and investment. “The expansion may now have peaked,” the OECD said in its interim economic outlook. “Global growth is projected to settle at 3.7% in 2018 and 2019, marginally below pre-crisis norms, with downside risks intensifying.”

The OECD said it was cutting its 2018 forecast by 0.1 percentage points and its 2019 forecast by 0.3 points. Britain has had its growth forecast shaved by 0.1 points in both years to 1.3% and 1.2%, respectively – with the OECD saying the squeeze on living standards was affecting consumer spending and uncertainty about Brexit leading to soft investment. [..] The US is expected to be the fastest growing of the G7 group of industrialised countries in both 2018 and 2019, and the OECD said that in contrast to the broad-based expansion in late 2017 there were widening differences in growth performance between countries.

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You break it, you own it.

Why Trump’s Stock Market Cheering Is Dangerous (Colombo)

The S&P 500 hit another all-time high today and president Donald Trump tweeted, in his usual fashion, “S&P 500 HITS ALL-TIME HIGH Congratulations USA!” Though I am a conservative myself, president Trump’s stock market cheerleading angers me because he’s fanning the flames of a dangerous asset bubble, which is extremely irresponsible. I believe that the current stock market bubble will cause severe damage to the economy and our society when it ultimately pops. Imagine if George W. Bush constantly touted how surging U.S. housing prices were making Americans rich in the mid-2000s? We all know how that ended. Well, that’s what president Trump is doing with his stock market cheerleading – history will not look kindly upon it.

To make matters worse, Donald Trump knew that we were in a dangerous stock market bubble back in 2016 before he became president – he even called it a “big, fat, ugly bubble.” Now, the S&P 500 is 35% higher (and even more overvalued), but Trump is acting as if it’s an organic, sustainable boom rather than the debt-driven bubble that it really is. This is disingenuous behavior, plain and simple. The S&P 500 has surged over 300% since March 2009 due to the Federal Reserve’s pro-asset inflation policies:

[..] According to the U.S. stock market capitalization-to-GDP ratio (also known as Warren Buffett’s “favorite indicator”), the market is more overpriced and inflated than it was during even the dot-com bubble:

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“..the crisis was a derivatives crisis, and not a housing crisis, as it is too commonly depicted.”

Post Crisis Measures Have Failed To Tame Derivatives Risks (Yves Smith)

One of the frustrating aspects of the orgy of “ten years after Lehman” stories is that writers and pundits, many of whom are old enough to have missed the credit excesses that were evident in 2006 and 2007, are now screeching “A crisis is nigh” without necessarily focusing on likely triggers. As an aside, we are already in the midst of emerging market crises. The IMF agreed to give yet another monster bailout to Argentina. Pakistan is seeking an IMF rescue (or more accurately, trying to get shored up by any one other than the IMF but keeping the agency on the front burner in case other options fail). Turkey is still on the ropes. So calling a crisis is trivial because they are on now.

However, many of these writers are presumably anticipating something more like the global financial crisis, and too often are looking in the wrong places. There is a difference between market crashes that don’t impair the financial system, like the dot-com bust, because the assets that fell in price weren’t highly leveraged. You get real economy damage but not a financial crisis. You can also have lots of loans go bad and not impair the banking system because the credit risk was either well distributed among banks and/or significantly shifted onto investors who losses aren’t leveraged back to the financial system. However, one of the sources of systemic risk being overlooked is derivatives. That is particularly worrisome since the crisis was a derivatives crisis, and not a housing crisis, as it is too commonly depicted.

Even though the US and other housing markets were certain to suffer a nasty bust, a housing crisis alone would have resulted in something like a bigger, badder saving and loan crisis, not the financial coronary of September and October 2008. Derivatives allowed speculators to create synthetic exposures to the riskiest subprime housing debt that were 4-6 times its real economy value. Those bets wound up heavily at systemically important, highly leveraged financial institutions like Citigroup, AIG, the monolines, and Eurobanks.

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“’I did not, and of course, I looked for it, looked for it hard..’

Woodward: “No Evidence Of Trump-Russia Collusion, I Looked Hard” (DV)

After two years of exhaustive research for his book, Woodward says that he has found no evidence of collusion between Putin’s government and Donald Trump’s campaign in 2016. Zilch, nada, zero. And Woodward strained very hard looking for it. This largely ignored blockbuster admission came in a radio interview with Hugh Hewitt reported by Real Clear Politics [..] “In an interview with Hugh Hewitt on Friday, Bob Woodward said that in his two years of investigating for his new book, ‘Fear,’ he found no evidence of collusion or espionage between Trump and Russia. Woodward said he looked for it ‘hard’ and yet turned up nothing.

“’Did you, Bob Woodward, hear anything in your research in your interviews that sounded like espionage or collusion?’ Hugh Hewitt asked Woodward. “’I did not, and of course, I looked for it, looked for it hard,’ Woodward answered. ‘And so you know, there we are. …..’ “’But you’ve seen no collusion?’ Hewitt asked again to confirm. “’I have not,’ Woodward affirmed. “Hewitt would once again ask Woodward about collusion at the conclusion of the interview. “’Very last question, Bob Woodward, I just want to confirm, at the end of two years of writing this book, this intensive effort, you saw no effort, you, personally, had no evidence of collusion or espionage by the president presented to you?’ Hewitt asked. “’That is correct,’ Woodward said.”

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“The most important lesson of the Brexit negotiation is that it is not a negotiation..”

“..no amount of diplomatic politesse can conceal Brexit’s reality: one part of the UK will be economically split from another.”

Brexit: It’s A Border In The Irish Sea Or The Customs Union (G.)

Donald Tusk’s clear rejection of Theresa May’s Chequers plan at the Salzburg summit yesterday should not come as a surprise. The most important lesson of the Brexit negotiation is that it is not a negotiation, and never has been. Blessed with superior size, wealth and power, the EU has been able to dictate the framework and substance of the talks, and has refused any deviation from its red lines. The second most important lesson of the Brexit negotiation is that the EU will prioritise its economic and political cohesion above all else. That cohesion rests on two key outcomes: an undivided single market and an open border on the island of Ireland. It is these principles that have led us to Salzburg. The EU will not accept the Chequers plan, which proposes a single market in goods but not in services, capital or people.

It will also not accept any possibility of border infrastructure in Ireland, which is anathema to Dublin and, according to the Police Service of Northern Ireland, presents a credible risk of sectarian violence. That has duly paved the way for the Brexit endgame, which EU negotiator Michel Barnier has now confirmed: there will be a border for goods in the Irish Sea. The EU does not, however, want to antagonise or humiliate the UK, and has scrambled to defuse the drama of this development. Barnier stresses that most checks between Britain and Northern Ireland will take place in offices and warehouses, and only live animals and food products will need to be examined at ports themselves. But no amount of diplomatic politesse can conceal Brexit’s reality: one part of the UK will be economically split from another.

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“..they left the day after so as not to have to deal with it.”

Emmanuel Macron Calls Brexit Campaign Leaders ‘Liars’ (Ind.)

Emmanuel Macron has branded the leaders of the campaign for Brexit “liars”, in an extraordinary attack at the close of the Salzburg summit. The Leave victory was “pushed by those who predicted easy solutions”, the French president said, adding: “Those people are liars. They left the next day so they didn’t have to manage it.” At the press conference, Mr Macron also made clear he would not accept a “blind deal” – which would leave the nature of the UK’s future trading relationship with the EU to be decided after departure day. The stance is another blow to Theresa May, given that the EU’s rejection of her Chequers plan has increasingly left a “blind Brexit” as the only possible agreement.

Mr Macron did not name the “liars” behind Brexit, but he targeted those who had promised that leaving the EU would “bring a lot of money home”. The Vote Leave campaign, fronted by Boris Johnson and Michael Gove, infamously pledged it would deliver an extra £350m a week for the NHS – a claim now widely discredited. “Those who explain that we can easily live without Europe, that everything is going to be alright, and that it’s going to bring a lot of money home, are liars,” Mr Macron added. “It’s even more true since they left the day after so as not to have to deal with it.” Mr Macron made clear the prime minister would need to come up with fresh proposals by the next summit in October. “We all agreed on this today, the proposals in their current state are not acceptable, especially on the economic side of it. The Chequers plan cannot be take it or leave it.”

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Someone’s going to take this to court.

‘Not Enough Time’ To Hold Referendum On Final Deal Before Brexit Day (G.)

A referendum on the Brexit deal would take at least six months to organise legally, making it very difficult to have a second vote before the UK is scheduled to exit the EU on 29 March next year, constitutional experts have said. As EU leaders including the Czech prime minister, Andrej Babis called on Theresa May to change firm government policy and put a vote to the people, academics said there was not enough time if article 50 is enacted as scheduled. There are indications that a delay to the enactment of article 50 could be acceptable to the EU, but without this agreement time stands in the way of a second referendum, experts believe.

“It is just possible to hold one within six months, but the shorter the timescale, the higher the chance of the question or other aspects of the referendum being challenged over their legitimacy,” said Prof Robert Hazell of the constitution unit at the department of political science, University College London. Fresh legislation, testing of the question by the Electoral Commission and a 10-week regulated period for a campaign are all required before a referendum can take place, he pointed out. David Cameron’s Brexit referendum took just over a year to get to the ballot box.

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Liquidation. But: “Monuments are protected by the Constitution, they cannot be transferred or be sold..”

Historical Monuments and Museums Moved to Greece’s Privatization Fund (KTG)

Archaeologists and sites Guards are up in arms after the Greek Finance Ministry issued a decision ordering the trasnfer several historical sites and buildings, museums, monuments and historical buildings to the Super Privatization Fund. “They belong de facto to the state and are off any trade,” the Greek Archaeologists Association said in a statement with the title “No to sale of the country’s monuments” issued on Wednesday. According to the archaeologists a total of 10,119 archaeological sites, museums and historical buildings have been transferred to the Privatization Fund, many of them from the area in and around Chania on the island of Crete.

“Monuments are protected by the Constitution, they cannot be transferred or be sold,” the Association said, adding that this unprecedented transfer became known when the catalogue of the monuments in and around Chania became public. Among those monuments and museums in Chania are the new Archaeological Museum, the archaeological museum located inside the St Francis Church, the National Museum Eleftherios Venizelos, the Historical Archive of Crete, several Venetian and Byzantine moats, fortifications and bastions as well as properties where important Minoan architectural remains have been discovered. “Is Acropolis next?” the Association of Guards at archaeological sites said in an equally angry statement on Thursday adding that also land plot where excavations take place have been transferred. They threaten with strikes.

“Our response will be very tough. Our cultural heritage belongs to all Greeks, no government has the right to negotiate about it or transfer ownership,” they said in their statement.

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Yeah, smart species.

Propping Up Glaciers To Avoid Cataclysmic Sea Level Rise (AFP)

As global warming outpaces efforts to tame it, scientists have proposed building massive underwater structures to prevent an Antarctic glacier the size of Britain from sliding into the sea and lifting the world’s oceans by several metres. The more modest of two engineering schemes — which is still on the scale of a Panama or Suez Canal — to shore up Thwaites Glacier would require the construction of Eiffel Tower-sized columns resting on the seabed to support the glacier’s ocean-facing edge, or ice shelf. Option Two is a 100-metre tall underwater wall, or berm, running 80-100 kilometres (55-60 miles) beneath the ice shelf to block bottom-flowing warm water that erodes the glacier’s underbelly, rendering it unstable.

The ambitious projects, detailed Thursday in the European Geophysical Union journal The Cryosphere, reflect a gathering awareness that slashing planet-warming greenhouse gas emissions — while essential — may not happen quickly enough to avoid catastrophic climate change impacts. “Thwaites could easily trigger a runaway ice sheet collapse that would ultimately raise global sea levels by about three metres,” said lead author Michael Wolovick, a researcher at Princeton University’s Geophysical Fluid Dynamics Laboratory. Nor will reducing carbon pollution be enough: any credible pathway to a world in which global warming is capped below two degrees Celsius above pre-industrial levels (3.6º Celsius) — the target enshrined in the 2015 Paris climate treaty — depends on sucking large quantities of CO2 out of the air.

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In the beginning there was nothing.

558 Million-Year-Old Fossils Identified As Oldest Known Animal (G.)

A fossilised lifeform that existed 558m years ago has been identified as the oldest known animal, according to new research. The findings confirm that animals existed at least 20m years before the so-called Cambrian explosion of animal life, which took place about 540m years ago and saw the emergence of modern-looking animals such as snails, bivalves and arthropods. The new fossils, of the genus Dickinsonia, are the remains of an oval-shaped lifeform and part of an ancient and enigmatic group of organisms called Ediacarans. These creatures are some of the earliest complex organisms on Earth, but their place within the evolutionary tree has long puzzled scientists. Suggestions as to what they were have ranged from lichens to failed evolutionary experiments to bacterial colonies.

Now, by identifying the remains of organic matter on newly discovered Ediacaran fossils as ancient cholesterol, the scientists have been able to confirm Dickinsonia was an animal, which makes it the oldest known animal. “It is the exact type and composition of that fat that was the giveaway that Dickinsonia was in fact an animal”, said Jochen Brocks of the Australian National University, one of the authors on the study. He added that the study solves “a decades-old mystery that has been the holy grail of palaeontology”. The fossils were discovered on two surfaces on a cliffside in the remote wilderness of north-west Russia by PhD student Ilya Bobrovskiy, who is lead author on the paper, published in the journal Science.


Dickinsonia fossils found in north-west Russia. Composite: Ilya Bobrovskiy/Ilya Bobrovskiy/ANU

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“This generation being born now… is the last free generation..”

Assange’s Last Interview Before Blackout (RT)

Before his links to the world was cut by his Ecuadorian hosts, WikiLeaks founder Julian Assange gave an interview on how technological advances are changing humankind. He said global surveillance will soon be totally unavoidable The interview was provided to RT by organizers of the World Ethical Data Forum in Barcelona. Assange, who is currently stranded in the Ecuadorean embassy in London with no outside communication except with his legal team, has a pretty grim outlook on where humanity is going. He says it will soon be impossible for any human being to not be included into global databases collected by governments and state-like entities.

This generation being born now… is the last free generation. You are born and either immediately or within say a year you are known globally. Your identity in one form or another –coming as a result of your idiotic parents plastering your name and photos all over Facebook or as a result of insurance applications or passport applications– is known to all major world powers. “A small child now in some sense has to negotiate its relationship with all the major world powers… It puts us in a very different position. Very few technically capable people are able to live apart, to choose to live apart, to choose to go their own way,” he added. “It smells a bit like totalitarianism – in some way.”

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