Jun 132019
 


Caravaggio The Denial of St. Peter 1610

 

UK Government Signs Julian Assange’s Extradition Papers (SBS)
ABC Raids A Wake-Up Call To Journalists Who Left Assange Swinging (SMH)
The Thought Police Are Coming (Chris Hedges)
A Recession Shock Could Wipe 30% Off US Stocks – Oxford Economics (MW)
The Fed Can’t Save Us –John Rubino (USAW)
1/3 of Americans Need A “Side Hustle” To Make Ends Meet (SHTF)
Trump Says Foreign ‘Dirt’ Not Election Interference (ZH)
John Bolton’s Long Goodbye (Kiriakou)
UK Labour Loses Vote To Prevent Future Tory PM Forcing Through No Deal (Ind.)
Leaked Cabinet Note: UK Not Ready For No-Deal Brexit On October 31 (Ind.)
Macron Wants EU Ties With Moscow Independent of NATO & US (RT)
Australia Approves Vast Coal Mine Near Great Barrier Reef (AFP)
You May Be Eating A Credit Card’s Worth Of Plastic Each Week (R.)
Troubling Levels Of Glyphosate In Foods Marketed To Children (RT)

 

 

Does the UK still operate under the rule of law? Does any western nation?

UK Government Signs Julian Assange’s Extradition Papers (SBS)

British Home Secretary Sajid Javid told BBC Radio 4’s Today that he has signed Julian Assange’s extradition order. “The final decision is now with the courts,” Mr Javid said. It is unclear whether the WikiLeaks founder will be sent to Sweden or the US. It was earlier reported that the US had formally submitted an extradition request to the UK for the WikiLeaks founder. Mr Assange faces an 18-count indictment that accuses him of soliciting and publishing classified information and of conspiring with former Army private Chelsea Manning to crack a Defense Department computer password. That indictment, which includes Espionage Act charges, was issued by the Justice Department last month and is pending in a federal court in Alexandria, Virginia.


The extradition request had been expected ever since US authorities first announced a criminal case against Mr Assange. [..] The United States will detail all the charges against Mr Assange when it seeks his extradition in a London court on Friday, the editor of the whistleblowers’ website said on Tuesday. “The American authorities, the Department of Justice, will present the evidence in support of their extradition demand,” Kristinn Hrafnsson told reporters. The US Justice Department confirmed on Tuesday that it had submitted a formal extradition request. The 47-year-old Australian is not expected to attend Friday’s hearing but could take part from prison via video link, although it will be largely procedural. The “first real confrontation of arguments” in court will not be for several weeks or months, Mr Hrafnsson said.

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“Assange, the outsider, did much more than that, he laid the path for the future of journalism, where journalists would be expected to produce primary source documents, wherever possible, and horror of all horrors, share them with the public.”

ABC Raids A Wake-Up Call To Journalists Who Left Assange Swinging (SMH)

The federal police raid on the ABC last week produced an unexpected benefit. Journalists are being forced to decide: whose side are they on. And where do they stand on fundamental issues of disclosure and the public’s right to know? When the executive producer of Australia’s most highly regarded current affairs program Four Corners retweeted that WikiLeaks founder Julian Assange was “Putin’s bitch” – a tweet she later removed – it said much about the state of journalism in Australia. The re-post, echoing a view held by many Australian journalists, followed a Four Corners interview with Hillary Clinton in which she was given full rein to attack Assange. Clinton was angry that WikiLeaks had revealed through a series of leaked Democratic Party emails that the party executive had given her help to defeat her main rival Senator Bernie Sanders for the party’s nomination – and helped the campaign of Donald Trump.

While the former presidential candidate was challenged on emails relating to her controversial involvement with the Clinton Foundation, never once was it pointed out that the Democratic Party emails revealed how she had been an active beneficiary of deeply unethical behaviour inside the party. What state have we reached where Assange, a journalist, facing his next extradition hearing in London on Friday, should be so reviled? It is dangerous territory for journalism. The insults thrown by Trump that journalists were the enemy of the American people might have been self-serving, but clearly the old notion that journalists mainly represent ordinary people against the powerful is in many cases something of the past. Just as the political parties have shifted to the right, so too have many journalists.

What so enrages the journalists’ “club” is the challenge from those who question their power, journalists like Assange. His revelations threatened them. But Assange, the outsider, did much more than that, he laid the path for the future of journalism, where journalists would be expected to produce primary source documents, wherever possible, and horror of all horrors, share them with the public. The internet made this possible, but for those who were holding out against the inevitable rise of this new form of communications, it posed a huge threat to the old order. Assange was not interested in off-the-record briefings from government insiders. He wanted to show the original documents to practise what he called Scientific Journalism.

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Very strong from Chris Hedges. A talk Tuesday, June 11, at an event held in London in support of Julian Assange.

The Thought Police Are Coming (Chris Hedges)

Ask the Iraqi parents of Sabiha Hamed Salih, aged 15, and Ashwaq Hamed Salih, aged 16, who were killed by shrapnel in Baghdad on July 31, 2004, what they think of Julian Assange. Ask the man and his two young daughters who saw their wife and mother shot to death and were themselves wounded in a car fired upon by U.S. Marines in Fallujah on July 22, 2005, what they think of Julian Assange. Ask the parents of Huda Haleem, an 18-year-old girl, and Raghad Muhamad Haleem, a 5-year-old boy, shot dead by U.S. soldiers on June 2, 2006, in Iraq’s Diyala province what they think of Julian Assange. Ask the parents of the 15-year-old boy choked with a wire and then shot to death by U.S. Marines in Ramadi on Aug. 10, 2006, what they think of Julian Assange.

Ask the relatives of Ahmed Salam Mohammad, who was shot dead on Nov. 27, 2006, when U.S. troops attacked a wedding party near Mosul, an attack that also left four wounded, what they think of Julian Assange. Ask the families of the over one dozen people shot to death with .50-caliber machine guns by bantering U.S. Apache helicopter crews in east Baghdad in July 2007—the crew members can be heard laughing at the “dead bastards” and saying “light ’em up” and “keep shooting, keep shooting”—a massacre that included two journalists for Reuters—Namir Noor-Eldeen and Saeed Chmagh—what they think of Julian Assange. Ask the then 10-year-old Sajad Mutashar and his 5-year-old sister, Doaha, both wounded, whose 43-year-old father, Saleh, was shot to death from the air as he attempted to assist one of the wounded men in the Baghdad street what they think of Julian Assange.

There is nothing like the boot of the oppressor on your neck to give you moral clarity. None of these war crimes, and hundreds more reported to the U.S. military but never investigated, would have been made public without Julian, Chelsea Manning and WikiLeaks. That is the role of journalists—to give a voice to those who without us would have no voice, to hold the powerful to account, to give the forgotten and the demonized justice, to speak the truth. We have watched over the last decade as freedom of the press and legal protection for those who expose government abuses and lies have been obliterated by wholesale government surveillance and the criminalizing of the leaking and, with Julian’s persecution, publication of these secrets. The press has been largely emasculated in the United States. The repeated use of the Espionage Act, especially under the Obama administration, to charge and sentence whistleblowers has shut down our ability to shine a light into the inner workings of power and empire.

Governmental officials with a conscience, knowing all of their communications are monitored, captured and stored by intelligence agencies, are too frightened to reach out to reporters. The last line of defense lies with those with the skills that allow them to burrow into the records of the security and surveillance state and with the courage to make them public, such as Edward Snowden, Chelsea Manning and Jeremy Hammond, now serving a 10-year prison term in the United States for hacking into the Texas-based private security firm Strategic Forecasting Inc., or Stratfor. The price of resistance is high not only for them, but for those such as Julian willing to publish this information. As Sarah Harrison has pointed out: “This is our data, our information, our history. We must fight to own it.”

Even if Julian were odious, which he is not, even if he carried out a sexual offense, which he did not, even if he was a poor houseguest—a bizarre term for a man trapped in a small room for nearly seven years under house arrest—which he was not, it would make no difference. Julian is not being persecuted for his vices. He is being persecuted for his virtues.

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Make it an even 60%.

A Recession Shock Could Wipe 30% Off US Stocks – Oxford Economics (MW)

[..] they’ve got a couple of grim worst-case scenarios. One envisages the U.S. economy slowing sharply from the third quarter of this year, then falling into recession as corporate profits, hitting business and investor sentiment. The fallout from this could trigger a 30% drop in the S&P 500 in the third quarter. Within a year the U.S. would be in recession, with the Fed cutting interest rates aggressively to “stave off the worst of the shock,” says the economic forecasters. The other downbeat scenario pictures bleak fallout from a trade-war escalation.


The U.S. slaps a 25% tariff on China and Mexico imports, and a 10% blanket tariff on Europe goods, and 25% on non-North American cars. Based on those assumptions, U.S. stocks could be 15% lower by late 2019, the firm says. But let’s leave things on a happy note. Under yet one more scenario they predict further stimulus from China, de-escalation in trade tensions supportive policy from central banks and much improved investor sentiment across the globe. All that good news could mean a boost in the high single digit percentage ballpark by the first quarter of 2020.

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The Fed is not trying to save “us”.

The Fed Can’t Save Us –John Rubino (USAW)

“The next recession is overdue because this is the longest expansion on record. . . . We loaded up car buyers with sub-prime loans. Students now have $1.5 trillion of student debt. Credit card debt is at record levels. Government debt is at record levels. Corporate debt is at record levels. . . . All of these guys have borrowed more money than they ever have in history. So, the idea we are going to convince people to borrow a lot more money by lowering interest rates is at best problematic and at worst insane. We are headed that way because they have no other tools. So, when things slow down, they are going to start cutting again and printing money and buying up assets with that money. We’ll see if it works again. It shouldn’t have worked the last time. . . . We are in a range of unexplored numbers. . . . How much further can this go? Is there a limit out there? We are going to find out in the next recession.”


Rubino is not impressed with the Federal Reserve’s latest promise to slash interest rates and print money to save a teetering economy. Rubino contends, “The markets ought to be terrified by this, but in the U.S. because the rates are not yet zero, the market is not yet terrified. We are not far from 0%. . . . The Fed can’t save us. We’re at the point now where we would be at a 1930’s style depression or a Weimar Germany hyperinflation or something new and equally bad. We have taken on insane amounts of debt, more than any society in history has ever tried to take on. So, we just don’t know what is going to happen. If the central banks cannot stop the next recession, we will find out what happens when this much debt goes bad. . . . The Fed’s biggest fear is that things will spin out of control, and they won’t have the tools to stop it.”

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Is all income tax “theft”?

1/3 of Americans Need A “Side Hustle” To Make Ends Meet (SHTF)

Imagine a world in which you could keep every single penny that the fruits of your own labor produced. That would be a world without income taxation making it much easier for the average American to get by. Instead, we live in a world where nothing goes untaxed. About 1/3 of Americans say that their expenses are so high that after the theft of the federal government from their paychecks, they need a “side hustle” to make ends meet. According to Bankrate, side hustlers make $1,122 per month on average from their part-time work — up from $686 last year. But if Americans were given the right to no longer be stolen from, and got to keep their own money, most wouldn’t need a side hustle or part-time work to get by.


Nearly half, 45%, of U.S. workers earn additional income outside of their primary career, a recent Bankrate survey found. This includes 48% of millennials. The percentage of Gen Xers and baby boomers with a side hustle is slightly lower, coming in at 39% and 28%, respectively. “A lot of people are working side hustles because even though the economy is strong, wages are stagnant,” Amanda Dixon, an analyst at Bankrate, told MarketWatch. “For a lot of Americans, expenses are rising, but there are no raises at work.” And heaven forbid the government stops raiding our income. That won’t be a suggestion the lapdog media will toss around either. However, if humans own themselves, they have the right to the fruits of their labor regardless of the edicts of the political elitists.

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Not Tyler’s best headline. Why use the word ‘dirt’? ‘Info’ will do.

Trump Says Foreign ‘Dirt’ Not Election Interference (ZH)

President Trump told ABC News’s George Stephanopoulos in an Oval Office interview that he might not call the FBI if foreign governments offered damaging information against his rivals in the upcoming 2020 election. While initially suggesting it would be absurd to call the FBI instead of taking the information, Trump said “I think maybe you do both,” adding “I think you might want to listen, there isn’t anything wrong with listening.” “If somebody called from a country, Norway, [and said] ‘we have information on your opponent’ — oh, I think I’d want to hear it.”

Trump also pushed back on the notion that opposition research provided by a foreign government would be considered election interference – saying “It’s not an interference, they have information — I think I’d take it,” adding “If I thought there was something wrong, I’d go maybe to the FBI — if I thought there was something wrong.” President Trump lamented the attention on his son, Donald Trump Jr., for his role in the now-infamous Trump Tower meeting in June 2016. Stephanopoulos asked whether Trump Jr. should have taken the Russians’ offer for “dirt” on then-candidate Hillary Clinton to the FBI. “Somebody comes up and says, ‘hey, I have information on your opponent,’ do you call the FBI?” Trump responded.

“I’ll tell you what, I’ve seen a lot of things over my life. I don’t think in my whole life I’ve ever called the FBI. In my whole life. You don’t call the FBI. You throw somebody out of your office, you do whatever you do,” Trump continued. “Oh, give me a break – life doesn’t work that way.” -ABC News When Stephanopoulos pointed out that FBI Director Christopher Wray said that a candidate should call the FBI in regards to foreign-sourced oppo-research, Trump said: “The FBI director is wrong, because frankly it doesn’t happen like that in life,” adding “Now maybe it will start happening, maybe today you’d think differently.” Trump then claimed that “if you go talk honestly to Congressmen, they all do it, they always have,” adding “That’s the way it is, it’s called oppo-research.”

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“My people think there could have been a violation. I view it differently.”

John Bolton’s Long Goodbye (Kiriakou)

[Bolton] said in a Wall Street Journal podcast that he believes five countries are spreading “lies about dysfunction in the Trump administration.” Those countries are North Korea, Iran, Venezuela, Russia, and China. That’s laughable. What Bolton is saying is that there is a vast and incredibly well-coordinated international conspiracy that includes some of the most important countries in the world, the main purpose of which is to embarrass him. That sounds perfectly rational, right? Of course, a more rational person might conclude that Bolton has done a terrible job, that the people around him have done a terrible job, that he has aired his disagreements with Trump in the media, and that the President is angry about it. That’s the more likely scenario.

Here’s what my friends are saying. Trump is concerned, like any president is near the end of his term, about his legacy. He said during the campaign that he wanted to be the president who pulled the country out of its two longest wars. He wanted to declare victory and bring the troops back from Afghanistan and Iraq. He hasn’t done that, largely at the insistence of Bolton. Here we are three years later and we’re still stuck in both of those countries. Second, my friends say that Trump wants to end U.S. involvement in the Yemen war, but that Bolton has been insistent that the only way to guarantee the closeness of the U.S. relationships with Saudi Arabia and the United Arab Emirates is to keep providing those countries with weapons, aerial refueling planes, and intelligence support.

Third, the mainstream media has accused Bolton of being the reason behind the failure of Trump’s second summit with North Korean leader Kim Jong-un. Bolton towed a hard line, so much so that the North Korean media called him a “war monger” and a “human defect” once the summit ended. This week Trump told reporters gathered on the White House south lawn that Kim had “kept his word” on nuclear and missile testing. This was a direct contradiction of Bolton, who had said just hours earlier that the North Koreans had reneged on their commitments to the U.S. Trump said simply, “My people think there could have been a violation. I view it differently.”

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All it takes is 11 votes. Out of 607.

UK Labour Loses Vote To Prevent Future Tory PM Forcing Through No Deal (Ind.)

Opposition MPs have lost a critical vote on a bid to prevent a future Conservative prime minister from forcing through a no-deal Brexit. Labour introduced a motion paving the way for parliament to block a chaotic Brexit by seizing control of the Commons timetable on 25 June. But MPs rejected the cross-party effort by 309 votes to 298, in a blow to hopes of preventing a Brexiteer prime minister from taking the UK out of the EU without a deal in October. Eight Labour MPs voted against the cross-party motion and a further 13 did not vote. Ten Conservative backbenchers rebelled to back the motion. Jeremy Corbyn could be heard admonishing Tory MPs when the result was called, saying: “You won’t be cheering in September.”


The move came after several Tory leadership hopefuls refused to rule out suspending parliament to prevent MPs from blocking a no-deal Brexit in September. Dominic Raab, the former Brexit secretary, and Esther McVey, the ex-work and pensions secretary, have both said parliament could be prorogued to ensure the UK leaves by the 31 October deadline. Sir Keir Starmer, shadow Brexit secretary, said: “This is a disappointing, narrow defeat. “But this is just the start, not the end of our efforts to block no deal. Labour stands ready to use whatever mechanism it can to protect jobs, the economy and communities from the disastrous consequences of a no-deal Brexit.

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All they did was bicker for 3 years. Of course they’re not ready.

Leaked Cabinet Note: UK Not Ready For No-Deal Brexit On October 31 (Ind.)

It will take “six to eight months” to build up supplies of medicines for a no-deal Brexit, a leaked cabinet note says – undermining Boris Johnson’s threat to crash out of the EU on 31 October. The warning says the pharmaceutical industry needs that period of help from the government “to ensure adequate arrangements are in place to build stockpiles of medicines”. It also says that it would take “at least 4-5 months” to make traders ready for the new border checks that might be required, including incentives to register for fresh schemes. The note was revealed by The Financial Times as Mr Johnson – the overwhelming favourite to succeed Theresa May – launched his campaign on a pledge to leave the EU on 31 October “deal or no deal”.


It states that, while government departments had delivered around 85 per cent of their “core no-deal plans”, many of those provided only “a minimum viable level of capability”. Prepared for a cabinet discussion on 21 May, it was never circulated because Ms May was concentrating at the time on her doomed attempt to force through her withdrawal agreement. After that attempt collapsed, the prime minister announced her plans to resign – throwing the country into the uncertainty of the Tory leadership race. Ed Davey, the Liberal Democrat home affairs spokesman, seized on the note, saying: “This lays bare the utter cynicism of Boris Johnson and his ilk. “They are prepared to talk up crashing out of the EU to further their chances in the Tory leadership contest, despite government documents showing this would lead to shortages of medicines and chaos at our borders.”

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Europe must distance itself from NATO. A tall order. Trump just sent another 1,000 US troops to Poland from Germany.

Macron Wants EU Ties With Moscow Independent of NATO & US (RT)

Europe should think outside NATO dictates and restore relations with Russia, French President Emmanuel Macron stressed, calling for a “strategic debate” with Moscow over mutual areas of concern. “Europe… must build new rules of trust and security with Russia, and should not only agree with NATO,” Macron said in an interview with the Swiss television channel RTS. “It needs to build [relations] only between Europe and Russia.” While noting that disagreements between Moscow and Brussels do exist, in particular over Ukraine, Macron insisted that Russia’s role in world affairs cannot be underestimated.


Europe, the French president stressed, needs Moscow to solve major security issues, as Russia’s highly successful anti-terrorist campaign in Syria has shown. “We need to have a strategic debate, so this week I will have another, long and intense conversation with Vladimir Putin, as the president of France and the G7,” Macron stressed. “There is disagreement among us, but we work together.” “It would not be good to leave Russia to China,” he added, reminding that Europe should “never forget the price [the Soviet Union] paid” in World War II to free the continent from Nazi Germany.

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A lost people. A lost country. Nothing there.

Australia Approves Vast Coal Mine Near Great Barrier Reef (AFP)

Australia approved Thursday the construction of a controversial coal mine near the Great Barrier Reef, paving the way for a dramatic and unfashionable increase in coal exports. Queensland’s government said it had accepted a groundwater management plan for the Indian-owned Adani Carmichael mine — the last major legal hurdle before construction can begin. The project, fiercely debated for almost a decade, comes as investors and even energy companies are moving away from fossil fuels amid concern about the climate. Opponents warn it will create a new generation of coal exports — which will be burned in India and China — contributing to further degrade the planet.


The vast open cut mine is slated to produce up to 60 million tonnes of coal a year, boosting Australia’s already vast exports by around 20 percent. Coupled with the construction of a railway link, it could open up a swathe of Queensland to further exploitation and new mining projects. “If all the coal in the Galilee Basin is burnt it would produce 705 million tonnes of climate pollution each year, which is more than 1.3 times Australia’s annual pollution from all sources, including cars, industry, energy and agriculture,” said the Australian Conservation Foundation.


The Adani coal mine has been under fierce debate – and protest – for almost a decade (AFP Photo/PETER PARKS)

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“In the United States, 94.4 percent of tap water samples contained plastic fibers..” And bottled water is 20x worse.

You May Be Eating A Credit Card’s Worth Of Plastic Each Week (R.)

Plastic pollution is so widespread in the environment that you may be ingesting five grams a week, the equivalent of eating a credit card, a study commissioned by the environmental charity WWF International said on Wednesday. The study by Australia’s University of Newcastle said the largest source of plastic ingestion was drinking water, but another major source was shellfish, which tended to be eaten whole so the plastic in their digestive system was consumed too. “Since 2000, the world has produced as much plastic as all the preceding years combined, a third of which is leaked into nature,” the report said.


The average person could be consuming 1,769 particles of plastic every week from water alone, it said. The amount of plastic pollution varies by location, but nowhere is untouched, said the report, which was based on the conclusions of 52 other studies. In the United States, 94.4 percent of tap water samples contained plastic fibers, with an average of 9.6 fibers per liter. European water was less polluted, with fibers showing up in only 72.2 percent of water samples, and only 3.8 fibers per liter.

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We don’t give a damn about what happened to our kids. That’s just a pose.

Troubling Levels Of Glyphosate In Foods Marketed To Children (RT)

The Environmental Working Group has released findings of research showing “troubling levels of glyphosate, the cancer-causing ingredient in the herbicide Roundup” in food products including children’s breakfast cereals. The Washington, DC-based advocacy group said in a statement released June 12 that the chemical, was detected “in all 21 oat-based cereal and snack products sampled in a new round of testing.” Furthermore, all of the products but four were found to contain levels higher than EWG’s safety threshold for child consumption, which is 160 parts per billion (ppb). The products “Cheerios” and “Honey Nut Cheerios Medley Crunch” were found with the highest glyphosate levels with 729 ppb and 833 ppb respectively.


The findings follow two previous research studies conducted with independent labs conducted last year. Monsanto, the maker of Roundup, was acquired by the German agro-chemical giant Bayer in 2018. “The glyphosate levels in this report are far below the strict limits established by the Environmental Protection Agency (EPA) to protect human health,” a Bayer spokesman told RT when contacted for comment. “Even at the highest level reported by the EWG (833 ppb), an adult would have to eat 158 pounds of the oat-based food every day for the rest of their life to reach the strict limits set by the EPA.”

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May 262019
 
 May 26, 2019  Posted by at 9:45 am Finance Tagged with: , , , , , , , , , , , ,  


 

Pence To West Point Grads: You Will Fight On a Battlefield for America (Taer)
Global Elites Started The Russia Nonsense (Farnan)
Indictment of Julian Assange is a Clear and Present Danger to Journalism (EFF)
The US Media Is in the Crosshairs of the New Assange Indictment (Lawfare)
The World: What is Really Happening (Murray)
Europeans Vote, With EU Future In Balance (R.)
Who Gets To Choose The UK’s Next Prime Minister? (BBC)
Elon Musk Confronts The “Bear Case” (VF)
You Will Probably Never Want To Eat GMO Food Again (Snyder)
Glyphosate Exposure Linked to Fatty Liver Disease in Humans (BP)

 

 

He’s ordering the body bags as we speak. And you thought Trump was crazy.

Pence To West Point Grads: You Will Fight On a Battlefield for America (Taer)

Vice President Mike Pence told the graduating class of the West Point Military Academy on Saturday that the world is “a dangerous place” and they should expect to see combat. “Men and women of West Point, no matter where you’re deployed, you will be the vanguard of freedom, and you know that the “soldier does not bear the sword in vain.” The work you do has never been more important. America will always seek peace, but peace comes through strength. And you are now that strength. It is a virtual certainty that you will fight on a battlefield for America at some point in your life. You will lead soldiers in combat. It will happen.


Some of you will join the fight against radical Islamic terrorists in Afghanistan and Iraq. Some of you will join the fight on the Korean Peninsula and in the Indo-Pacific, where North Korea continues to threaten the peace, and an increasingly militarized China challenges our presence in the region. Some of you will join the fight in Europe, where an aggressive Russia seeks to redraw international boundaries by force. And some of you may even be called upon to serve in this hemisphere. And when that day comes, I know you will move to the sound of the guns and do your duty, and you will fight, and you will win. The American people expect nothing less.”

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We’re going to hear a lot about this.

Global Elites Started The Russia Nonsense (Farnan)

Attorney General William Barr has turned the attention of the Russia probe to its origin: who started this and why? The answer, as in all the best crime dramas, is probably hiding in plain sight. On July 13, 2016, British academic Dr. Andrew Foxall penned an op-ed in the New York Times, “Why Putin Loves Brexit.” He blamed Russia for the previous month’s Brexit vote, adding in a little noted aside: The United States is so concerned over Moscow’s determination to exploit European disunity that in January, James R. Clapper Jr., the director of national intelligence, began a review of Russia’s clandestine funding of European parties. Bingo! The Obama administration was spying on conservative European political parties.

Which means, almost necessarily under the Five Eyes Agreement, foreign agents were returning the favor and spying on the Trump campaign. On August 11, 2018, I wrote: The British aristocracy has a condescending view of the hoi polloi who voted for Brexit, regarding them as easily manipulated Pygmalion-like by smarter people. They assumed Vladimir Putin was somehow playing Professor Henry Higgins to the flower girls who voted to reject the EU, because that’s how they see the world. Among the Cambridge class, this simple prejudice renders Russian collusion a first principle with no need for supporting evidence…. Without supporting evidence to prove their fantastical worldview, the global elite set out to manufacture some.

First up was Christopher Steele, who hasn’t set foot in Russia since 2009. He wears as a badge the claim that Putin hates him which, if true, means he has no real Russian sources. Maybe because of that, Steele’s farcical dossier on Trump was not enough for the FBI to open an investigation, and these international men of mystery needed something more. They invited George Papadopoulos to London, used a Maltese asset disguised as a Russian agent – Joseph Mifsud – to feed him a whopper about Hillary Clinton’s emails, then claimed he repeated the lie to Andrew Downer, an Australian diplomat with ties to the Clinton Foundation. That was the final straw that caused lovestruck counterintelligence specialist Peter Strzok to open an FBI investigation into the Trump campaign ..

[..] the FBI delegated the inspection of the computer servers to CrowdStrike, an insider paid by the DNC. James Comey testified to the Senate Intelligence Committee in January 2017 that CrowdStrike was “a highly respected private company.” What he failed to mention was that a month before his testimony, CrowdStrike had been caught falsely blaming Russia for a hack into a Ukrainian artillery computer app. In other words, at the same time this “highly respected private company” was blaming the Russians for stealing the Clinton campaign’s emails, it was fabricating a different Russian hack to serve Ukrainian misinformation.

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“The press stands in place of the public in holding the government accountable..”

This is the essence. And it’s not what the press has been doing. Other than WikiLeaks, that is.

Indictment of Julian Assange is a Clear and Present Danger to Journalism (EFF)

The century-old tradition that the Espionage Act not be used against journalistic activities has now been broken. Seventeen new charges were filed yesterday against Wikileaks founder Julian Assange. These new charges make clear that he is being prosecuted for basic journalistic tasks, including being openly available to receive leaked information, expressing interest in publishing information regarding certain otherwise secret operations of government, and then disseminating newsworthy information to the public. The government has now dropped the charade that this prosecution is only about hacking or helping in hacking. Regardless of whether Assange himself is labeled a “journalist,” the indictment targets routine journalistic practices.

But the indictment is also a challenge to fundamental principles of freedom of speech. As the Supreme Court has explained, every person has the right to disseminate truthful information pertaining to matters of public interest, even if that information was obtained by someone else illegally. The indictment purports to evade this protection by repeatedly alleging that Assange simply “encouraged” his sources to provide information to him. This places a fundamental free speech right on uncertain and ambiguous footing. Make no mistake, this not just about Assange or Wikileaks—this is a threat to all journalism, and the public interest. The press stands in place of the public in holding the government accountable, and the Assange charges threaten that critical role.

The charges threaten reporters who communicate with and knowingly obtain information of public interest from sources and whistleblowers, or publish that information, by sending a clear signal that they can be charged with spying simply for doing their jobs.

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As if the US media doesn’t self-censor enough yet.

The US Media Is in the Crosshairs of the New Assange Indictment (Lawfare)

As Susan Hennessey said, “[I]t will be very difficult to craft an Espionage Act case against him that won’t adversely impact true journalists.” I don’t think this is an accident. I think the government’s indictment has the U.S. news media squarely in its sights. The first sentence of the indictment reads: “To obtain information to release on the WikiLeaks website, ASSANGE encouraged sources to (i) circumvent legal safeguards on information; (ii) provide that protected information to WikiLeaks for public dissemination; and (iii) continue the pattern of illegally procuring and providing protected information to WikiLeaks for distribution to the public.”

This is exactly what national security reporters and their news publications often ask government officials or contractors to do. Anytime a reporter asks to receive information knowing it is classified, that person encourages sources to circumvent legal safeguards on information. The news organizations’ encouragement is underscored by the mechanisms they provide for sources to convey information securely and anonymously. (The New York Times’s menu includes SecureDrop, an “encrypted submission system set up by The Times [that] uses the Tor anonymity software to protect [the] identity, location and the information” of the person who sends it.) Like WikiLeaks, these reporters and organizations encourage the sources to provide the “protected information” for public dissemination. And also like WikiLeaks, they often encourage the sources to engage in a “pattern of illegally procuring and providing protected information.”

There are other similarities. The government thought it significant that the WikiLeaks website states: “WikiLeaks accepts classified, censored, or otherwise restricted material of political, diplomatic, or ethical significance” (emphasis in indictment). This sounds very much like the public interest standard that U.S. editors use to decide when and how to publish classified information. Former Washington Post Executive Editor Leonard Downie once told me, “‘Highly classified’ doesn’t mean anything to me …. The question is, is it important for the American public to know that its government is acting in its name in this particular way?” Or as the Times’s former executive editor once said, “As journalists in a robust democracy, our responsibility is to publish information of interest to the public, and that includes publishing secrets when we find them.”

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“..the OPCW was manipulated by the NATO powers to produce a highly biased report that omits the findings of its own engineers.”

The World: What is Really Happening (Murray)

[..] the OPCW Fact Finding Mission reflected in their final report none of the findings of their own sub-group of university based engineers from two European universities, but instead produced something that is very close to the amateur propaganda “analysis” put out by Bellingcat. The implications of this fraud are mind-blowing. The genuine experts’ findings were completely suppressed until they were leaked last week. And still then, this leak – which has the most profound ramifications – has in itself been almost completely suppressed by the mainstream media, except for those marginalised outliers who still manage to get a platform, Robert Fisk and Peter Hitchens (a tiny platform in the case of Fisk).


Consider what this tells us. A fake chemical attack incident was used to justify military aggression against Syria by the USA, UK and France. The entire western mainstream media promoted the anti-Syrian and anti-Russian narrative to justify that attack. The supposedly neutral international watchdog, the OPCW, was manipulated by the NATO powers to produce a highly biased report that omits the findings of its own engineers. Which can only call into doubt the neutrality and reliability of the OPCW in its findings on the Skripals too. There has been virtually no media reporting of the scandalous cover-up. This really does tell you a very great deal more about how the Western world works than the vicissitudes of the ludicrously over-promoted Theresa May and her tears of self pity.

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Fragmentation is the key word. But the big power blocks will remain, courtesy of the EU structure. Salvini’s Lega may become the largest single party in Europe, but the real power lies in those blocks.

Europeans Vote, With EU Future In Balance (R.)

Europeans vote on Sunday in an election expected to further dent traditional pro-EU parties and bolster the nationalist fringe in the European Parliament, putting a potential brake on collective action in economic and foreign policy. Polls opened at 7 a.m. (0400 GMT) in the east of the bloc and will finally close at 11 p.m. (2100 GMT) in Italy. Seven states have already voted, with 21 joining in on Sunday in what is the world’s biggest democratic exercise after India. Right-wing populists top opinion polls in two of the big four member states – Italy and supposedly exiting Britain – and could also win in a third, France, rattling a pro-Union campaign championed by centrist President Emmanuel Macron.

However, exit polls in some countries that have already voted have given pro-EU parties some comfort. The Dutch Labour party, all but written off, looks to have finished first, helped by the visibility of having the EU socialists’ lead candidate, current EU deputy chief executive Frans Timmermans. In the Netherlands pro-Union parties scored 70%, up three points on the last European Parliament vote in 2014, and left the upstart anti-immigration party of Thierry Baudet fourth on 11%. The Dutch also turned out in bigger numbers, albeit at just 41%, reinforcing hopes in Brussels of reversing a 40-year trend of declining turnout that critics cite as a “democratic deficit” that undermines the legitimacy of European Union lawmaking.

An exit poll after Friday’s vote in deeply pro-EU Ireland pointed to an expected “Green Wave”. Across the bloc, concerns about climate change and the environment may bolster the pro-EU Greens group and could mean tighter regulations for industry and for the terms the EU may set for partners seeking trade accords. Britain also voted on Thursday and a new party focused on getting out of the EU was forecast by pre-vote opinion polls to come top, but there has been no exit poll data. Attention there has focused on the resignation of Prime Minister Theresa May. Results will be out late on Sunday, when all countries have voted.

[..] Matteo Salvini’s League in Italy may pip the Christian Democrats of German Chancellor Angela Merkel, the bloc’s power broker, to become the biggest single party in the 751-seat chamber. Right-wing ruling parties in Poland and Hungary, defying Brussels over curbs to judicial and media independence, will also return eurosceptic lawmakers on Sunday.

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Grandma does.

Who Gets To Choose The UK’s Next Prime Minister? (BBC)

With Theresa May finally on her way out of Downing Street, a Tory leadership contest that has been bubbling under for months is now starting. It’s a two-stage process. The first sees votes among Conservative MPs designed to whittle the contenders down to just two front-runners. The second stage sees the party’s grassroots members choose between them in a postal ballot. In other words, it is members of the public – those who pay £25 a year to join the Conservative Party – who get the final say on who the next prime minister is. There will not be a general election because the party is already in power. So, who are its members and what do they think on key issues, not least of course Brexit?

We don’t know exactly how many Conservative Party members there are because – unlike the UK’s other parties – the Conservatives don’t regularly release the figures. The last time they did so was back in March 2018, when they put the figure at 124,000. That’s larger than some of the more pessimistic guesstimates, but way down on the peak of nearly three million that the party boasted in the early 1950s. Membership plunged after that before levelling off at around one million in the 1970s and 1980s, since when it has been dropping almost inexorably. One thing we can be sure of, however, is that the Tories have far fewer members than the Labour Party. Even if we assume that Labour’s membership has fallen from the late 2017 peak of more than 550,000, it still has a huge advantage over the Conservatives when it comes to campaigning on the ground.


[..] What Tory members haven’t cooled on, however, is Brexit. Indeed, since we started tracking them in 2015, they’ve hardened their position. It is clear that they are not supporters of the deal negotiated by their outgoing leader. In fact, it is now the case that fully two-thirds of them back a no-deal Brexit – an outcome supported by only a quarter of voters as a whole. Nor are they in the least bit keen on the idea of letting the public have another say on the UK’s EU membership. Some 84% of them oppose the idea of a new referendum on the issue. In short, the grassroots aren’t simply sceptical on Europe; they can’t wait to leave, whatever that might take. This, then, is the Conservative Party electorate. And those MPs hoping to succeed Mrs May will need to pitch their promises accordingly.

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Bubble. Tesla is brought to you by the Fed.

Elon Musk Confronts The “Bear Case” (VF)

Don’t say “death spiral,” but Tesla has unquestionably entered a perilous new era. Last September, a month after Elon Musk’s notorious “funding secured” tweet, I wrote a New York Times opinion piece about the fact that the real problem at Tesla, Musk’s electric-car company, was not necessarily Musk’s irresponsible, and perhaps illegal, behavior as C.E.O. Rather, it was the Tesla balance sheet, which was larded with $11 billion in debt, some $1.7 billion of which needed to be paid off before November 2019. Debt isn’t necessarily a bad thing. But when a company doesn’t have the operating earnings to service that debt, a single dollar of debt can be too much. And then it becomes more like a Ponzi scheme, which, to be honest, Tesla is increasingly resembling.


Can Tesla convince investors to give it enough new capital to pay off the maturing debt before the world concludes that the company doesn’t have the resources to meet its obligations as they become due? That, of course, is the textbook definition of a bankrupt company. When I last wrote about Tesla, the company’s stock was trading at $300 per share, giving Tesla a market capitalization of around $51 billion. Nowadays, Tesla’s stock is trading around $190 per share and the company is valued at around $34 billion. That’s a loss of a cool $17 billion for equity investors, in eight months. In November, Tesla repaid $230 million of convertible debt with some of its cash pile instead of converting the debt to equity because its stock price was well below the conversion price. In March, Tesla paid off another $920 million in convertible notes in cash, again because its stock price was below the conversion price.

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..eating a corn chip produced from Bt corn might transform our intestinal bacteria into living pesticide factories, possibly for the rest of our lives.”

You Will Probably Never Want To Eat GMO Food Again (Snyder)

In recent years, researchers have been pushing the boundaries of biology in order to come up with new “plant-based” alternatives to existing food products. Essentially, “synthetic biology” is being used “to create life forms from scratch”… Impossible’s “bleeding” veggie burger, shrimp made of algae, and vegan cheeses that melt are all making their way into restaurants and on to supermarket shelves, offering consumers a new generation of plant-based proteins that look, act, and taste far more like the real thing than ever before. What consumers may not realize, however, is that many of these new foods are made using synthetic biology, an emerging science that applies principles of genetic engineering to create life forms from scratch.

[..] “GM corn and cotton are engineered to produce their own built-in pesticide in every cell. When bugs bite the plant, the poison splits open their stomach and kills them. Biotech companies claim that the pesticide, called Bt — produced from soil bacteria Bacillus thuringiensis’ has a history of safe use, since organic farmers and others use Bt bacteria spray for natural insect control. Genetic engineers insert Bt genes into corn and cotton, so the plants do the killing.” The Bt-toxin produced in GM plants, however, is thousands of times more concentrated than natural Bt spray, is designed to be more toxic, has properties of an allergen, and unlike the spray, cannot be washed off the plant.” Do you think that it is actually safe to eat such “food”?

Sadly, the health consequences from eating GMO food may not just be temporary. In fact, one study found that the effects of eating genetically-modified food could last for a lot longer that anyone had anticipated… “The only published human feeding study revealed what may be the most dangerous problem from GM foods. The gene inserted into GM soy transfers into the DNA of bacteria living inside our intestines and continues to function. This means that long after we stop eating GMOs, we may still have potentially harmful GM proteins produced continuously inside of us. Put more plainly, eating a corn chip produced from Bt corn might transform our intestinal bacteria into living pesticide factories, possibly for the rest of our lives.”

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Without the precautionary principle, it’s certain that we will poison our children and not realize it until it’s too late.

Glyphosate Exposure Linked to Fatty Liver Disease in Humans (BP)

Glyphosate weed killers may be contributing to the growing worldwide epidemic f non-alcoholic fatty liver disease (NAFLD), a condition that causes swelling of the liver, and can eventually lead to cirrhosis, cancer, or liver failure. Researchers at the University of California (UC) San Diego found that higher levels of glyphosate detected in urine corresponded significantly with individuals that have also been diagnosed with NAFLD. Advocates are urging lawmakers at every level to respond to the accumulating science on the danger of glyphosate herbicides, ban their use, and adopt policy changes that put into place organic land management practices.


“There have been a handful of studies, all of which we cited in our paper, where animals either were or weren’t fed Roundup or glyphosate directly, and they all point to the same thing: the development of liver pathology,” said Paul J. Mills, PhD, professor and chief in the Department of Family Medicine and Public Health at UC San Diego School of Medicine in a press release. [..] With glyphosate still the most popular herbicide used in the U.S., exposure to the chemical is alarmingly widespread. “The increasing levels [of glyphosate] in people’s urine very much correlates to the consumption of Roundup [glyphosate] treated crops into our diet,” said Dr. Mills. He cautions that the results need further follow up, and there may be other pesticides in the environment leading to similar disease outcomes. “There are so many synthetic chemicals we are regularly exposed to,” Dr. Miller notes. “We measured just one.”

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Sometimes you will never know the value of a moment, until it’s a memory.
– Dr. Seuss

 

 

 

 

May 022019
 


Bugatti Atlantic Coupé 1935

 

Julian Assange Legal Team Begin ‘Big Fight’ Over Extradition (G.)
US May Have To Stop Borrowing Later This Year – Treasury (R.)
From 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt (ZH)
Fed Sees No Strong Case For Hiking Or Cutting Rates (R.)
Venezuela and Binary Choice (Murray)
Nellie Ohr’s ‘Hi Honey’ Emails On Russia Collusion Should Alarm Us All (Hill)
Barr Cancels Second Day Of Testimony, Escalating Battle With US Congress (R.)
WSJ: Dems Vilifying Barr For ‘Acting Like A Real Attorney General’ (Hill)
737 Max Sensor Had Been Flagged Over 200 Times To FAA (CNN)
US Environment Agency Says Glyphosate Is Not A Carcinogen (R.)

 

 

Straight from the horse’s foul-smelling mouth, the Guardian. First judge called Assange a narcissist. This one says he cost taxpayers £16m. Judges in Britain are apparently not required to be objective. Here’s praying he’ll receive better treatment today.

Julian Assange Legal Team Begin ‘Big Fight’ Over Extradition (G.)

A struggle over the US request for Julian Assange’s extradition will open in court on Thursday morning, a day after the WikiLeaks founder was jailed for just under a year for breaching bail conditions to avoid being extradited to Sweden. Wednesday’s sentence was decried as an “outrage” by Kristinn Hrafnsson, the editor-in-chief of the whistleblowing website, who said the hearing at Westminster magistrates court to oppose Assange’s extradition would be the start of the “big fight” – a process he said would be “a question of life and death for Mr Assange”. A judge largely rejected the mitigating factors put forward by lawyers for Assange – who took refuge in Ecuador’s embassy to London in 2012 to avoid extradition to Sweden over sexual assault allegations, which he has denied – and told the 47-year-old it was difficult to envisage a more serious example of the offence.

“You remained there for nearly seven years, exploiting your privileged position to flout the law and advertise internationally your disdain for the law of this country,” said Judge Deborah Taylor, as she sentenced him at Southwark crown court. “Your actions undoubtedly affected the progress of the Swedish proceedings. Even though you did cooperate initially, it was not for you to decide the nature or extent of your cooperation with the investigations. They could not be effectively progressed, and were discontinued, not least because you remained in the embassy.” Assange, who was arrested last month when Ecuador revoked his political asylum and invited Metropolitan police officers inside the country’s Knightsbridge diplomatic premises, had written a letter in which he expressed regret for his actions but claimed he had been left with no choice.

“I apologise unreservedly to those who consider that I have disrespected them by the way I have pursued my case. This is not what I wanted or intended,” he said in the letter read out by his lawyer, Mark Summers QC. “I found myself struggling with terrifying circumstances for which neither I nor those from whom I sought advice could work out any remedy. I did what I thought at the time was the best and perhaps the only thing that could be done – which I hoped might lead to a legal resolution being reached between Ecuador and Sweden that would protect me from the worst of my fears.”

Assange, wearing a black blazer and shorn of the beard worn when police carried him out of the embassy last month, was told by the judge that his continued residence there had cost £16m of taxpayers’ money “in ensuring that when you did leave, you were brought to justice”. “It is essential to the rule of law that nobody is above or beyond the reach of the law,” said the judge, who said Assange’s written apology was the first recognition that he regretted his actions.

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Don’t they say that all the time about twice a year?

US May Have To Stop Borrowing Later This Year – Treasury (R.)

The U.S. government will have to stop borrowing money between July and December if Washington doesn’t agree to raise a legal restriction on public debt, the Treasury Department said on Wednesday. Hitting that so-called “debt ceiling” could trigger a U.S. default on its debt and an immediate recession, a risk that has become a regular facet of U.S. politics over the last decade. The current debt limit was set in March. Treasury has been able to continue borrowing from investors by using accounting measures such as limiting government payments to public sector retirement funds.


“Treasury expects that the extraordinary measures will be exhausted sometime in the second half of 2019,” Treasury Deputy Assistant Secretary Brian Smith said in a statement announcing the department’s quarterly debt issuance plans. Wall Street also sees Treasury exhausting its borrowing authority in the third or fourth quarter, according to the minutes of a meeting of a Treasury advisory committee of financiers. The debt ceiling is already affecting how the government funds itself. Issuance of Treasury bills – short-term debt – is expected to gradually decline over the second quarter due to debt ceiling constraints, Smith said.

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“..while we don’t know yet what the next reserve currency – either fiat, hard or digital – after the US dollar will be, we urge readers to own a whole lot of it.”

From 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt (ZH)

As part of today’s Treasury Presentation to the Treasury Borrowing Advisory Committee, there is a chart showing the Office Of Debt Management’s forecast for annual US debt issuance, broken down between its three component uses of funds: Primary Deficit, Net Interest Expense, and “Other.” That chart is troubling because while in 2019 and 2020 surging US interest expense is roughly matched by the other deficit components in the US budget, these gradually taper off by 2024, and in fact in 2025 become a source of budget surplus (we won’t be holding our breath). But what is the real red flag is that starting in 2024, when the primary deficit drops to zero according to the latest projections, all US debt issuance will be used to fund the US net interest expense, which depending on the prevailing interest rate between now and then will be anywhere between $700 billion and $1.2 trillion or more.

In short: in the stylized cycle of the US “Minsky Moment”, the US will enter the penultimate, Ponzi Finance, phase – the one in which all the new debt issuance is used to fund only interest on the debt – some time around in 2024. From that point on, every incremental increase in interest rates, which will eventually happen simply due to rising inflation expectations, will merely accelerate the ponzi process, whereby even more debt is sold just to fund the rising interest on the debt, requiring even more debt issuance, and so on, until finally the “Minsky Moment” arrives. At that point, while we don’t know yet what the next reserve currency – either fiat, hard or digital – after the US dollar will be, we urge readers to own a whole lot of it.

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Get rid of the Fed or you will have no economy left. You already don’t have markets anymore, because the Fed became the market, and with the markets the economy will vanish too.

Fed Sees No Strong Case For Hiking Or Cutting Rates (R.)

The U.S. Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher. “We think our policy stance is appropriate at the moment; we don’t see a strong case for moving it in either direction,” Fed Chairman Jerome Powell said in a press conference following the end of the central bank’s latest two-day policy meeting. Overall, he said, “I see us on a good path for this year.” Fed policymakers said ongoing economic growth, a strong labor market and an eventual rise in inflation were still “the most likely outcomes” as the U.S. expansion nears its 10-year mark.


“The labor market remains strong … economic activity rose at a solid rate” in recent weeks, the Fed said in a policy statement a day after President Donald Trump called on it to cut rates by a full percentage point and take other steps to stimulate the economy. The policy statement, and particularly Powell’s insistence the Fed saw no compelling reason to consider a rate cut in response to weak inflation, prompted a modest selloff in stock markets and pushed bond yields higher. The S&P 500 index fell 0.75 percent, its largest daily decline since mid-March. Interest rate futures also reversed direction, signaling a lower degree of confidence the next Fed move would be a rate cut, exactly the point Powell was driving at in a “stay-the-course” message, said analysts at Cornerstone Macro.

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“Juan Guaido has been groomed for 15 years as a long-term CIA project.”

Venezuela and Binary Choice (Murray)

When a CIA-backed military coup is attempted by a long term CIA puppet, roared on by John Bolton and backed with the offer of Blackwater mercenaries, in the country with the world’s largest oil reserves, I have no difficulty whatsoever in knowing which side I am on. Juan Guaido has been groomed for 15 years as a long-term CIA project. His coup attempt yesterday, which so far appears to have stalled, was the culmination of these efforts to return Venezuela’s oil reserves to US hegemony.

It is strange how the urgent installation of liberal democracy by force correlates so often with oil reserves not aligned to the USA, as in Libya, Iraq or Venezuela, while countries with massive oil reserves which permit US military domination and align with the West and Israel can be as undemocratic as they wish, eg Saudi Arabia. Venezuela is an imperfect democracy but it is far, far more of a democracy than Saudi Arabia and with a much better human rights record. The hypocrisy of Western media and politicians is breathtaking.

Hypocrisy and irony are soulmates, and there are multiple levels of irony in seeing the “liberal” commentators who were cheering on an undisguised military coup, then complaining loudly that people are being injured or killed now their side is losing. Yesterday the MSM had no difficulty in calling the attempted coup what anybody with eyes and ears could see it plainly was, an attempted military coup. Today, miraculously, the MSM line is no coup attempt happened at all, it was just a spontaneous unarmed protest, and it is the evil government of Venezuela which attempts to portray it as a coup. BBC Breakfast this morning had the headline “President Maduro has accused the opposition of mounting a coup attempt”… Yet there is no doubt at all that, as a matter of plain fact, that is what happened.

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We’re going to have a civil war. But it won’t be civil.

Nellie Ohr’s ‘Hi Honey’ Emails On Russia Collusion Should Alarm Us All (Hill)

First came the text messages between FBI lovebirds Peter Strzok and Lisa Page, which gave us a painful glimpse at potential political bias inside America’s most famous crime-fighting bureau. Now, a series of “Hi Honey” emails from Nellie Ohr to her high-ranking federal prosecutor husband and his colleagues raise the prospect that Hillary Clinton-funded opposition research was being funneled into the Justice Department during the 2016 election through a back-door marital channel. It’s a tale that raises questions of both conflict of interest and possible false testimony.

Ohr has admitted to Congress that, during the 2016 presidential election, she worked for Fusion GPS — the firm hired by Democratic nominee Clinton and the Democratic National Committee to perform political opposition research — on a project specifically trying to connect Donald Trump and his campaign chairman, Paul Manafort, to Russian organized crime. Now, 339 pages of emails from her private account to Department of Justice (DOJ) email accounts, have been released under a Freedom of Information Act request by the conservative legal group Judicial Watch. And they are raising concerns among Republicans in Congress, who filed a criminal referral with the Justice Department on Wednesday night.

They clearly show that Ohr sent reams of open-source intelligence to her husband, Associate Deputy Attorney General Bruce Ohr, and on some occasions to at least three DOJ prosecutors: Lisa Holtyn, Ivana Nizich and Joseph Wheatley. The contents tracked corruption developments in Russia and Ukraine, including intelligence affecting Russian figures she told Congress she had tried to connect to Trump or Manafort. “Hi Honey, if you ever get a moment you might find the penultimate article interesting — especially the summary in the final paragraph,” Nellie Ohr emailed her husband on July 6, 2016, in one typical communication. The article and paragraph she flagged suggested that Trump was a Putin stooge: “If Putin wanted to concoct the ideal candidate to service his purposes, his laboratory creation would look like Donald Trump.” Nellie Ohr bolded that key sentence for apparent emphasis.

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Still don’t get why they insist on lawyers asking their questions for them.

Barr Cancels Second Day Of Testimony, Escalating Battle With US Congress (R.)

Attorney General William Barr on Wednesday canceled plans to testify before the House of Representatives about his handling of Special Counsel Robert Mueller’s Russia investigation, further inflaming tensions between U.S. President Donald Trump and Democrats in Congress. Barr was due to face the Democratic-controlled House Judiciary Committee on Thursday, but pulled out after the two sides were unable to agree on the format for the hearing. “It’s simply part of the administration’s complete stonewalling of Congress,” Judiciary Committee Chairman Jerrold Nadler told reporters. Justice Department spokeswoman Kerri Kupec said Nadler’s proposal to have committee lawyers question Barr was “unprecedented and unnecessary,” saying questions should come from lawmakers.


The Justice Department also said on Wednesday it would not comply with a Nadler-issued subpoena seeking an unredacted version of Mueller’s report and underlying investigative files from the probe. Earlier on Wednesday, Barr spent more than four hours before the Republican-controlled Senate Judiciary Committee where he fended off Democratic criticism of his decision to clear Trump of criminal obstruction of justice and faulted Special Counsel Robert Mueller for not reaching a conclusion of his own on the issue.

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The Wall Street Journal takes a very strong stand.

WSJ: Dems Vilifying Barr For ‘Acting Like A Real Attorney General’ (Hill)

The Wall Street Journal editorial board on Wednesday excoriated Democrats for making Attorney General William Barr out to be a “villain,” defending Barr as merely “acting like a real Attorney General.” “Washington pile-ons are never pretty, but this week’s political setup of Attorney General William Barr is disreputable even by Beltway standards,” the board wrote in an op-ed published just hours after Barr testified before the Senate Judiciary Committee. The editorial, which was shared by President Trump on Twitter, slammed Democrats’ criticism of Barr’s handling of special counsel Robert Mueller’s report on Russian election interference and possible obstruction of justice by Trump.


The board also took issue with Mueller, saying that the letter he wrote to Barr expressing concerns with how the attorney general summarized his investigation amounted to “posterior covering.” “Democrats leapt on the letter as proof that Mr. Barr was somehow covering for Donald Trump when he has covered up nothing,” the board wrote, arguing that Barr’s four-page memo adequately summarized the chief findings of Mueller’s investigation. The board wrote that the “trashing of Barr shows how frustrated and angry Democrats continue to be that the special counsel came up empty in his Russia collusion probe.”

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“Single sources of data are considered acceptable in such cases by our industry..” As I explained when this came out, you need three sources. One is crazy, two is too dangerous.

737 Max Sensor Had Been Flagged Over 200 Times To FAA (CNN)

The device linked to the Boeing 737 Max software that has been scrutinized after two deadly crashes was previously flagged in more than 200 incident reports submitted to the Federal Aviation Administration, but Boeing did not flight test a scenario in which it malfunctioned, CNN has learned. The angle-of-attack (AOA) sensor, as it’s known, sends data to a 737 Max software system that pushes the nose of the aircraft down if it senses an imminent stall. That software, triggered by erroneous data from AOA sensors, is believed to have played a role in crashes of Lion Air and Ethiopian Airlines jets. Former Boeing engineers and aviation analysts interviewed by CNN have criticized Boeing’s original software design for relying on data from a single AOA sensor, claiming that those devices are vulnerable to defects.

FAA data analyzed by CNN supports that assessment. The FAA has received at least 216 reports of AOA sensors failing or having to be repaired, replaced or adjusted since 2004, according to data from the FAA’s Service Difficulty Reporting website. [..] In one 2011 case, the flight crew on a Boeing 737-800 reported that the “angle of attack and airspeed failed” and declared an emergency. An AOA sensor was then replaced. The FAA also issued two directives for various Boeing aircraft models before the 737 MAX was released, indicating that Boeing was aware of the potential for the sensors to cause problems in its planes. A 2013 directive mandated inspections of certain AOA sensors to prevent possible problems that included “obstacles after takeoff, or reduced controllability of the airplane.”

Another FAA directive published in 2016 warned that AOA sensors on Boeing MD-90-30 airplanes needed to be modified and tested to address “the unsafe condition on these products.” While those directives did not involve the 737 Max, Peter Goelz, a former managing director of the National Transportation Safety Board (NTSB) and a CNN aviation analyst, said AOA sensors fundamentally work the same on different aircraft models. “This is a fairly simple external device that can get damaged on a regular basis,” Goelz said. “That’s important because Boeing made the decision to rely on them as single sources for streams of data.”

In a statement to CNN, a Boeing spokesperson said the 737 Max and its stall-prevention system, called MCAS, were certified in accordance with all FAA requirements, and that Boeing’s analysis for the plane determined that in the event of erroneous inputs from an AOA sensor, pilots would be able to maintain control of the plane by following established procedures. “Single sources of data are considered acceptable in such cases by our industry,” the Boeing spokesperson said.

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Unbelievable. Might as well end the EPA too. There is only one way to deal with GMO and the poisons that keep them alive: precautionary principle.

US Environment Agency Says Glyphosate Is Not A Carcinogen (R.)

The U.S. Environmental Protection Agency (EPA) said on Tuesday that glyphosate, a chemical in many popular weed killers, is not a carcinogen, contradicting decisions by U.S. juries that found it caused cancer in people. The EPA’s announcement reaffirms its earlier findings about the safety of glyphosate, the key ingredient in Bayer’s Roundup. The company faces thousands of lawsuits from Roundup users who allege it caused their cancer. “EPA continues to find that there are no risks to public health when glyphosate is used in accordance with its current label and that glyphosate is not a carcinogen,” the agency said in a statement.


Farmers spray glyphosate, the most widely used herbicide in U.S. agriculture, on fields of soybeans and other crops. Roundup is also used on lawns, golf courses and elsewhere. The EPA did previously find ecological risks from the chemical and has proposed new measures to protect the environment from glyphosate use by farmers and to reduce the problem of weeds becoming resistant to it. Bayer said it was pleased the EPA and other regulators who have assessed the science on glyphosate for more than 40 years continue to conclude it is not carcinogenic. “Bayer firmly believes that the science supports the safety of glyphosate-based herbicides,” it said in a statement. The company has repeatedly denied allegations that glyphosate and Roundup cause cancer.

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Mar 302019
 
 March 30, 2019  Posted by at 9:59 am Finance Tagged with: , , , , , , , , , , ,  


René Magritte The muscles of the sky 1927

 

May Hopes To Hold Fourth Vote On Brexit Deal (Ind.)
May Ready To Trigger Election Within 10 Days (Ind.)
EU Gives Britain 11 Days To Come Up With New Brexit Plan (G.)
The Democrats Are Self-Destructing (PCR)
Wokester’s Nightmare (Kunstler)
Barr Says Mueller Report Will Be Released In Mid-April ‘If Not Sooner’ (AP)
On Russiagate and Our Refusal to Face Why Trump Won (Taibbi)
US Readying Sanctions On Russia Over Nerve-Agent Attack In Britain (R.)
Southwest To Keep Boeing 737 MAX Off Schedules Through May (R.)
TUI Sticks With Boeing, Sees 737 Maxs Flying By Mid-July (R.)
Human Population Explosion Squeezes Out Wildlife On African Savannah (Ind.)
The Places in America that Use the Most (and Least) Pesticides (PO)

 

 

Get me Bill Murray on the phone.

May Hopes To Hold Fourth Vote On Brexit Deal (Ind.)

Theresa May hopes to bring her Brexit deal back to parliament again next week after it was rejected for a third time by MPs – and appears poised to trigger a general election if parliament fails to agree a way forward. Despite the embattled prime minister’s dramatic promise on Wednesday that she would hand over the keys to 10 Downing Street if her Tory colleagues backed the withdrawal agreement, parliament voted against it on Friday, by 344 to 286. The Commons vote was held on the day when Britain was meant to be leaving the European Union, as Parliament Square outside overflowed with raucous pro-Brexit protesters.

A string of leave-supporting Conservative backbenchers who had twice rejected the deal, including Boris Johnson, Jacob Rees-Mogg and former Brexit secretary Dominic Raab, switched sides to support the agreement. But with Labour unwilling to shift its position, and the Democratic Unionist party’s 10 MPs implacably opposed, it was not enough to secure a majority for May. The result was a sense of stunned disbelief in Westminster. Asked what could happen next, one government source said: “Last one out, turn off the lights.” Immediately after the defeat was announced, May told MPs: “The implications of the house’s decision are grave. The legal default now is that the United Kingdom is due to leave the European Union on 12 April. In just 14 days’ time.”

Under the deal agreed by EU leaders in Brussels last week, if May had passed her withdrawal agreement this week, Brexit would have been delayed until 22 May. Now, she will have to return to Brussels for an emergency European council summit on 10 April. The EU27 expect her to ask for a longer delay – requiring Britain to participate in the European elections in May – or accept a no-deal Brexit two days later. However, her aides hope the 22 May date could still be in play if her deal is accepted next week.

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So what’s she waiting for?

May Ready To Trigger Election Within 10 Days (Ind.)

Britain is veering towards a new general election after MPs voted down Theresa May’s Brexit deal for a third time on Friday. She strongly hinted after the defeat that she will take the country to the polls if parliament does not pass a deal respecting the 2016 referendum result in the next 10 days. Ministers told The Independent a new election was a clear possibility featuring in the prime minister’s thinking, with her likely to have one final attempt to push her deal through next week. As thousands of pro-Brexit protesters shouted outside parliament, Labour leader Jeremy Corbyn and Scottish nationalists, who form the third biggest group in the House of Commons, also called for an election.


It comes as MPs will once again take control of the chamber’s schedule on Monday to hold indicative votes to see if a soft-Brexit compromise can achieve a majority. [..] Asked whether an election was now becoming a clear possibility, one cabinet source told The Independent without hesitation: “Yes. Absolutely. No question.” There had been speculation that the vote itself was set up for 29 March to make a show of Mr Corbyn’s party voting against Brexit ahead of a pending election campaign. One cabinet minister later said: “We would throw at them the question of ‘what did your MP do on exit day?’ “This is going to be difficult for a lot of individual Labour MPs in Leave areas.”

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10 days, 11 days, they’re intent on entertaining us every single day.

EU Gives Britain 11 Days To Come Up With New Brexit Plan (G.)

The EU has given the British government 11 days to come up with a fresh Brexit plan to avoid crashing out of the bloc at 11pm on 12 April. In the immediate aftermath of the crushing rejection of the prime minister’s deal, the European council president, Donald Tusk, called an emergency leaders’ summit. Should the UK seek a lengthy extension, leaders will debate any request at an extraordinary meeting on 10 April. EU capitals would require a clear justification at least two days earlier from Downing Street on the reason for a lengthy delay to allow officials to prepare. “We expect the UK to indicate a way forward before then, well in time for the European council to consider,” an official said.


EU heads of state and government expressed their alarm at the continued impasse in Westminster following the third defeat of May’s deal. The Irish taoiseach, Leo Varadkar, said: “It is up to the UK to indicate how it plans to proceed in order to avoid a no-deal scenario. The European council has agreed unanimously that the withdrawal agreement will not be reopened.” However, he added: “I believe we must be open to a long extension should the UK decide to fundamentally reconsider its approach … I believe that will result in a generous and understanding response from the 27.”

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Haven’t heard from Paul Craig Roberts in a while. Is that just me?

The Democrats Are Self-Destructing (PCR)

I know Democrats are disappointed not to have Trump’s head presented to them by Mueller on a silver platter. But surely not even Democrats are stupid enough to believe the Russiagate conspiracy tale. It was all cooked up by the military/security complex to prevent Trump from normalizing relations with Russia, thereby removing the enemy that justifies the $1,000 billion annual budget. Before writing such nonsense as Hartmann has written, he should have read Barr’s summary of the report. Barr quotes Mueller directly from the report: “The investigation did not establish that members of the Trump Campaign conspired or coordinated with the Russian government in its election interference activities.” Again from Mueller’s report: “The evidence does not establish that the President was involved in an underlying crime related to Russian election interference.”


Other Democrats who cannot cope with their disappointment claim that although cleared of election theft collusion Trump was not cleared of obstruction of justice. This is nonsensical even for Democrats. As Trump committed no crime, what evidence did he obstruct? The evidence of his innocence? Just as murder requires a body, obstruction requires a crime to obstruct. But facts are boring to Democrats. They were certain that all the lies that they and the media whores told would find their way into Mueller’s report. Mueller’s staff was Democrat to the core, and Mueller used every dirty trick in the book in his effort to get something on Trump. It simply couldn’t be done. Democrats will never get over it, just as they never have got over Iran-Contra. Hartmann couldn’t write about the “Russiagate coverup” without dragging in Ronald Reagan and the “Iran-Contra coverup.”

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“It’s also very likely that Robert Mueller learned that the Steele Dossier was a fraud in the summer of 2017, if not shortly after his appointment in May of that year..”

Wokester’s Nightmare (Kunstler)

All of a sudden, a whole lot of people who have been punking the public-at-large will have to answer for their behavior. Despite the fog of misdirection blowing out of The New York Times, The WashPo, CNN, and MSNBC, it’s become obvious that the RussiaGate hoax was kicked off by Hillary Clinton’s campaign and a cabal of Obama appointees in several executive agencies. The evidence is public, fully documented, and overwhelming that the so-called Steele Dossier was the sole animating instrument in both the 2016 pre-election effort to incriminate the Golden Golem of Greatness, and the Mueller Investigation launched post-election to cover-up those same political misdeeds of the Clinton campaign, the FBI, the Department of Justice, the CIA, NSA, and State Department.


It’s also very likely that Robert Mueller learned that the Steele Dossier was a fraud in the summer of 2017, if not shortly after his appointment in May of that year, and yet he dragged out his investigation for almost two years in order to defame and antagonize Mr. Trump — and deflect attention from the ugly truth of the matter. It is certain Mr. Mueller knew that the Steele Dossier was purchased by Glenn Simpson’s Fusion GPS political “research” company, which was simultaneously in the paid employ of Mrs. Clinton and the Russian political lobbying agency Prevezon (as reported by Sean Davis in The Federalist). If the FBI brass did not bring that to Mr. Mueller’s attention right away, then either their incompetence is epic or they are criminally liable for concealing the hoax.

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Mueller’s doing the redacting with Barr.

Barr Says Mueller Report Will Be Released In Mid-April ‘If Not Sooner’ (AP)

Congress should expect to receive a redacted version of special counsel Robert Mueller’s report on the Russia investigation by mid-April, Attorney General William Barr said Friday. In a letter to the chairmen of the House and Senate judiciary committees, Barr said he shares a desire for Congress and the public to be able to read Mueller’s findings, which are included in the nearly 400-page report Mueller submitted last week. Barr said he does not plan to share the report with the White House before making it public. He said that while President Donald Trump would have the right to assert executive privilege over certain parts of the report, “he has stated publicly that he intends to defer to me and, accordingly, there are no plans to submit the report to the White House for a privilege review.”

Mueller officially concluded his investigation when he submitted the report last Friday. Two days later, Barr sent a four-page letter to Congress that detailed Mueller’s “principal conclusions.” Mueller’s report did not find that the Trump campaign coordinated or conspired with Russia, Barr wrote, and did not reach a conclusion on whether Trump obstructed justice. Barr said he and Deputy Attorney General Rod Rosenstein decided on their own that Mueller’s evidence was insufficient to establish that the president committed obstruction.

Barr said he is preparing to redact multiple categories of information from the report. Those include grand jury material; information that would compromise sensitive sources and methods; information that could affect ongoing investigations, including those referred by Mueller’s office to other Justice Department offices; and information that could infringe on the personal privacy and reputation of “peripheral third parties.” “Our progress is such that I anticipate we will be in a position to release the report by mid-April, if not sooner,” he said.

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Getting a bit tired of all the regurgitating and gloating, but this look back is nice.

On Russiagate and Our Refusal to Face Why Trump Won (Taibbi)

Nate Silver, the ex-baseball stats guru and renowned “National Oracle™” (as Gizmodo cheekily called him), laughed at Trump’s chances[1]. His site, FiveThirtyEight, ran a story called “Why Donald Trump Isn’t a Real Candidate, In One Chart.” The piece said Trump was more likely to “play in the NBA finals” or cameo in another Home Alone movie than win the nomination. Dana Milbank in the Washington Post: “I’m so certain Trump won’t win the nomination that I’ll eat my words if he does. Literally.” Milbank ended up actually doing this, for which he deserves a lot of credit. “Donald Trump is going to lose because he is crazy,” was the take of Jonathan Chait, who would soon be writing Trump might have been recruited by the KGB in 1987.

It isn’t just that wizards of prognostication were wrong. The bigger issue was why they were so confident. A common take was the political establishment just wouldn’t allow it. Former “The Note” writer Mark Halperin used to talk about having his finger on the pulse of the “Gang of 500,” which he described as “campaign consultants, strategists, pollsters, pundits and journalists who make up the modern-day political establishment.” The subtext of Halperin’s pieces was that the Gang of 500 decided elections. It’s hard to understand how it never occurred to Halperin or anyone else that people might be grossed out by the concept of 500 self-appointed guardians of democracy deciding the presidency for 300 million people.

In this case, just by saying out loud the idea that the people who mattered would never let Trump win, probably helped Trump win. It validated his talk about “elites.” Nate Cohn of The New York Times wrote Trump had “just about no shot of winning the nomination no matter how well he is doing in the early polls.” He prefaced this by saying it is “the party elites who traditionally decide nomination contests.” When Trump defied these predictions and sealed up the Republican nomination, he immediately became subject to a new legend, about how he was destined to be the biggest landslide loser in history of general elections: bigger than Alf Landon or even George McGovern, whose very name in America is synonymous with “loser.”

Here are some takes on Trump’s campaign after he sealed up the nomination: David Brooks: Trump will be the “biggest loser” in American politics. The Week: “Trump is poised to lose the biggest landslide in modern American history.” George Will: “Donald Trump may find a place in history – by losing just that badly.” I belong on this infamous list myself. In one of the worst mistakes of my career, I ended up changing my mind about “free-falling” Trump’s chances, spending the stretch run predicting doom for Republicans. I read too many polls and ignored what I was seeing, i.e. that even the post-Access Hollywood Trump was still packing stadiums.

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I swear I thought it was an April Fools prank.

US Readying Sanctions On Russia Over Nerve-Agent Attack In Britain (R.)

The White House has received a package of new sanctions to be imposed on Russia in retaliation for the 2018 nerve-agent attack on a Russian double agent in Britain, Bloomberg reported on Friday. Officials at the U.S. Treasury and State Departments have vetted the sanctions and are awaiting approval from the White House to issue them, Bloomberg said, citing people familiar with the matter. Sergei Skripal, a former colonel in Russia’s GRU military intelligence service, and his 33-year-old daughter, Yulia, were found unconscious on a bench in the southern English city of Salisbury in March 2018 after a liquid form of the Novichok type of nerve agent was applied to the front door of Skripal’s home.


Both Skripal and his daughter survived. Russia has denied any involvement in the attack. Asked about Friday’s report, a Trump administration official noted that Secretary of State Mike Pompeo had told Russian Foreign Minister Sergei Lavrov in a phone call in February that the United States was determined to hold Russia accountable for the attack through sanctions.

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Don’t think they’ll make it.

Southwest To Keep Boeing 737 MAX Off Schedules Through May (R.)

Southwest Airlines Co said on Friday it was pulling its Boeing Co 737 MAX jets from flight schedules through May, extending its earlier timeline from April 20, according to a company memorandum seen by Reuters. “This will impact the lines in May, but, now that the decision has been made, we can construct our schedule without those flights well in advance in hopes to minimize the daily disruptions,” the Southwest Airlines Pilots Association and the company said in the joint memorandum. Boeing’s top-selling 737 MAX jetliner has been grounded in the wake of two deadly crashes involving that model in five months, one in Indonesia last October and another on March 10 in Ethiopia.

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Europe’s no 1 tour operator. Note how nice Boeing and them are to each other:“..he was “very certain” of receiving some compensation from Boeing, probably next year.|”

TUI Sticks With Boeing, Sees 737 Maxs Flying By Mid-July (R.)

TUI remains committed to its Boeing 737 MAX orders despite two fatal crashes that have led to the grounding of the plane worldwide and caused the Anglo-German tour operator to issue a profit warning on Friday. TUI said its profit would fall by at least 200 million euros ($225 million) this year due to the cost of substituting planes, loss of business and lower fuel efficiency – further evidence of the financial impact of the two deadly accidents after warnings from North American airlines. The holiday firm’s shares fell to an all-time low.

Global airlines and travel groups have had to make contingency plans after 737 MAX planes were taken out of service following an Ethiopian Airlines disaster on March 10 that killed 157 people, five months after a Lion Air crash in Indonesia that killed 189. Boeing is planning a software fix to address an issue that can arise when the MAX’s anti-stall system, MCAS, repeatedly pushes the plane’s nose down. The MCAS system is at the center of safety investigations into the two crashes. Based on feedback from Boeing and EU regulator EASA, the planes should be flying again in July, TUI’s Chief Executive Friedrich Joussen told analysts on a call.

CEO Joussen said: “We are saving $1 million per year per aircraft in fuel, but – and here comes the but – safety first.” TUI has little scope to cancel flights, as some airlines are doing, because the flights feed its hotel and cruise business. It is leasing planes complete with crews to replace those due to have been flown by 737 MAXs at the cost of $1 million each per month, executives said, adding they had seen some tightening of the so-called wet-leasing market. Bookings were down by 10 percent in major markets since the Ethiopian crash, Joussen said, adding he was “very certain” of receiving some compensation from Boeing, probably next year.

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“.. a 400 per cent increase in human population over the last decade, while more than three quarters of the populations of some of the larger species of migrating animals like wildebeest, zebra and gazelle have been wiped out..”

Human Population Explosion Squeezes Out Wildlife On African Savannah (Ind.)

Encroachment by people into one of Africa’s most celebrated ecosystems is “squeezing the wildlife in its core”, by damaging habitation and disrupting the migration routes of animals, a major international study has concluded. Boundary areas of the Serengeti-Mara region in East Africa have seen a 400 per cent increase in human population over the last decade, while more than three quarters of the populations of some of the larger species of migrating animals like wildebeest, zebra and gazelle have been wiped out, scientists revealed after examining 40 years of data. Despite being one of the most protected ecosystems on Earth, the influx of people and livestock around both the Serengeti and Masai Mara has had a detrimental impact on plants, wild animals and soils.


This has occurred in two main ways, the study found. Firstly, the protected areas’ or “buffer zones” where more livestock including cattle are being reared, are leaving less and lower quality grasses for wildebeest, zebra and gazelle to graze. Secondly, the presence of people and farm animals has also reduced the frequency of natural fires, which in turn impacts the variety of vegetation, altering grazing opportunities for wildlife in the core protected areas. Publishing their findings in the journal Science, the authors said the impacts were cascading down the food chain. Animals were forced to eat less palatable herbs and therefore the beneficial interactions between plants and microorganisms that enable the ecosystem to flourish were being altered.


Zebra, gazelle and wildebeest populations have fallen as human populations have risen on the edges of protected areas (Getty)

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h/t Tyler

The Places in America that Use the Most (and Least) Pesticides (PO)

We decided to analyze data to uncover which states in the United States had the most and least exposure to pesticides, herbicides and other agricultural chemicals, with a particular focus on glyphosate, the active ingredient that is in the news right now. We looked at data from the U.S. Geological Survey (USGS) to see which compounds were most popular and which locations had the highest usage levels of these chemicals. By a significant margin, the most popular herbicide in the United States is glyphosate, which is four times more popular than the second most popular chemical. Not surprisingly, large agricultural states like California, Washington, and Illinois use the most pesticides.

However, some states that use a lot of these chemicals see very little glyphosate usage, while others nearly exclusively use the compound. In California for example, only 6 percent of pesticide usage is glyphosate, while in Montana, 52 percent of such usage is from glyphosate. [..] By a significant margin, glyphosate is the most popular pesticide used in American agriculture. Over 130 million kilograms were used in 2016, which was approximately four times more than the second-place pesticide, Atrazine. In total, just over 544 million kilograms of pesticides were used in the U.S. in 2016, and 24 percent of that was glyphosate. It’s hard to overestimate just how pervasive Roundup and glyphosate are this country.

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Mar 202019
 
 March 20, 2019  Posted by at 9:27 am Finance Tagged with: , , , , , , , , , , , , , ,  


Salvador Dali Birth of liquid desires 1932

 

Monsanto’s Roundup Substantial Factor In Man’s Cancer, Jury Finds (G.)
Miami Bans The Use Of Glyphosate In A Step To Improve Water Quality (NoC)
Off-Duty Pilot Saved Doomed 737 From Nosedive Day Before Deadly Crash (ZH)
Most People Want Higher Taxes On Rich To Support Poor – OECD (G.)
Shifting Hopes As Republicans, Democrats Wait For Mueller (AP)
Schiff: Real Question Is If Trump Is Under Influence Of A Foreign Power (NBC)
Mueller Suspected Cohen May Have Been Acting As Foreign Agent In 2017 (G.)
EU’s Barnier: UK Can’t Delay Brexit Without Clear Plan Of Action (Ind.)
Theresa May Asks Eu For Brexit Delay With Cabinet In Deadlock (G.)
Theresa May Will Not Ask EU For Long Brexit Extension (BBC)
Tory MPs Vow To Quit Party If Boris Johnson Becomes Leader (G.)
Chinese Companies Default On Their Debts At An ‘Unprecedented’ Level (CNBC)
Foreigners Buy Up Athens Real Estate For Short-Term Rentals (K.)

 

 

Underlying lesson: stop poisoning your food and the soil it grows in.

But don’t count out Monsanto’s legal department.

Monsanto’s Roundup Substantial Factor In Man’s Cancer, Jury Finds (G.)

A federal jury in San Francisco found Monsanto’s Roundup herbicide was a substantial factor in causing the cancer of a California man, in a landmark verdict that could affect hundreds of other cases. Edwin Hardeman of Santa Rosa was the first person to challenge Monsanto’s Roundup in a federal trial and alleged that his exposure to Roundup caused him to develop non-Hodgkin’s lymphoma (NHL), a cancer that affects the immune system. In the next phase of the case, the jury will weigh liability and damages, and Hardeman’s lawyers will present arguments about Monsanto’s influence on government regulators and cancer research.

During the trial, the 70-year-old Santa Rosa man testified that he had sprayed the herbicide for nearly three decades and at one time got it on his skin before he was diagnosed with cancer. He used the chemical to control weeds and poison oak on his properties, starting in 1986. Hardeman’s case is considered a “bellwether” trial for hundreds of other plaintiffs in the US with similar claims, which means the verdict could affect future litigation and other cancer patients and families. Monsanto, now owned by the German pharmaceutical company Bayer, is facing more than 9,000 similar lawsuits across the US.

The unanimous ruling on Tuesday follows a historic verdict last August in which a California jury in state court ruled that Roundup caused the terminal cancer of Dewayne Johnson, a former school groundskeeper. That jury said Monsanto failed to warn Johnson of Roundup’s health hazards and “acted with malice or oppression”, awarding Johnson $289m in damages. Hardeman’s trial has been more limited in scope. While Johnson’s attorneys argued that Monsanto had “bullied” scientists and fought to suppress negative studies about its product, the federal judge barred Hardeman’s lawyers from discussing Monsanto’s alleged influence on research and regulations during the hearings.

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2 weeks old, but highly relevant.

Miami Bans The Use Of Glyphosate In A Step To Improve Water Quality (NoC)

Miami, Florida voted unanimously to ban the use of glyphosate by city departments and contractors. The controversial herbicide is the active ingredient in Monsanto’s – now Bayer after an acquisition took place over a year ago – popular weed-killer, Roundup. But concerns surrounding the safety and proliferation of glyphosate continue to grow and the city of Miami took it upon themselves to effectively enact the resolution right after passage, The Miami Times reported. Miami Commissioner Ken Russell started the investigation into the city’s use of glyphosate after officials believed the runoff from the herbicide “might have contributed to the recent blue-green algae bloom and red tide that impacted the state last year,” EcoWatch reported.

“Water quality issues are so important to the city of Miami, and we can be one of the worst polluters as a municipality,” Russell told The Miami New Times. “We ask for residents to make a change in their habits and that they be conscious of what they put in their gardens, but when I realized the totality of what the city uses at any given time, we had to change our habits.” Miami Director of Resiliency and Public Works Alan Dodd determined that Miami was responsible for using 4,800 gallons of glyphosate a year on the streets and sidewalks to kill weeds. While Dodd stopped the use of the herbicide, Russell took it a step further and sponsored a city-wide ban on glyphosate to make sure it was no longer used by any departments.

According to Waterkeeper: “herbicides and fertilizers are often applied in excess to lawns and landscapes and can be lost to the environment in stormwater runoff and can degrade the water quality of streams, rivers, canals, lakes, and coastal waters. They can also contribute to the creation of harmful algal blooms and the destruction of critically important habitats like sea grass beds and coral reefs.”

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One of the big selling points for the 737MAX was that airlines didn’t have to spend a fortune to re-train their pilots. Even though the MCAS system that caused the crashes was brand new.

Off-Duty Pilot Saved Doomed 737 From Nosedive Day Before Deadly Crash (ZH)

An off-duty pilot hitching a ride in the cockpit jumpseat of a doomed 737 Max 8 last October reportedly saved the plane just one day before it crashed off the coast of Indonesia while being operated by a different crew, killing 189 onboard. According to Bloomberg, the ‘dead-head’ pilot on the earlier flight from Bali to Jakarta was able to explain to the crew how to disable a malfunctioning flight-control system by cutting power to a motor driving the nose of the plane down. The previously undisclosed detail supports the suggestion that a lack of training is may be at least partially to blame in the March 10 crash of another 727 Max 8.

“The previously undisclosed detail on the earlier Lion Air flight represents a new clue in the mystery of how some 737 Max pilots faced with the malfunction have been able to avert disaster while the others lost control of their planes and crashed. The presence of a third pilot in the cockpit wasn’t contained in Indonesia’s National Transportation Safety Committee’s Nov. 28 report on the crash and hasn’t previously been reported.” -Bloomberg As we noted last week, several pilots had repeatedly warned federal authorities of the Max 8’s shortcomings, with one pilot describing the plane’s flight manual as “inadequate and almost criminally insufficient.”

“The fact that this airplane requires such jury-rigging to fly is a red flag. Now we know the systems employed are error-prone — even if the pilots aren’t sure what those systems are, what redundancies are in place and failure modes. I am left to wonder: what else don’t I know?” wrote the captain. “After the Lion Air crash, two U.S. pilots’ unions said the potential risks of the system, known as the Maneuvering Characteristics Augmentation System, or MCAS, hadn’t been sufficiently spelled out in their manuals or training. None of the documentation for the Max aircraft included an explanation, the union leaders said.” -Bloomberg

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Curious coming from the OECD.

Most People Want Higher Taxes On Rich To Support Poor – OECD (G.)

A majority of people living in developed countries want their government to increase taxes on the rich in order to help the poorest in society, according to a major global study. In all 21 countries included in the OECD study, more than half of those polled said they were in favour when asked: “Should the government tax the rich more than they currently do in order to support the poor?” The OECD said the survey of 22,000 people was “deeply troubling” and revealed that nearly 60% of respondents do not think they are getting their “fair share” back for the taxes they pay.

Only one in five people thought that they would easily be able to access state benefits in the event of a crisis, with many raising concerns about healthcare. Almost six in 10 said their government ignored their views and concerns. “This is a wake-up call for policy makers,” Ángel Gurría, the Organisation for Economic Co-operation and Development secretary-general, said. “Too many people feel they cannot count fully on their government when they need help. “A better understanding of the factors driving this perception and why people feel they are struggling is essential to making social protection more effective and efficient. We must restore trust and confidence in government and promote equality of opportunity.”

The survey comes as politicians and campaigners across the world call for higher taxes on the super-rich to fund essential services for the poor. Several of the Democratic candidates for US president in the 2020 election, including Elizabeth Warren, Bernie Sanders and Alexandria Ocasio-Cortez, have proposed new taxes on the super-rich to address inequality. The gilets jaunes (yellow vests) protesters in France have also demanded the wealthy shoulder a larger share of the tax burden. Almost 80% of people in Portugal and Greece said they wanted their governments to impose higher taxes on the wealthy. In the US more than half of those surveyed supported extra taxes on the wealthy. The OECD did not set an income level for what constituents wealthy.

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The end of one probe will give birth to many others.

Shifting Hopes As Republicans, Democrats Wait For Mueller (AP)

It’s a witch hunt, a vendetta, the worst presidential harassment in history. That’s what President Donald Trump has shouted for two years about the special counsel’s Russia probe. Now, barring an eleventh-hour surprise, Trump and his allies are starting to see it as something potentially very different: a political opportunity. With Robert Mueller’s findings expected any day, the president has grown increasingly confident the report will produce what he insisted all along — no clear evidence of a conspiracy between Russia and his 2016 campaign. And Trump and his advisers are considering how to weaponize those possible findings for the 2020 race, according to current and former White House officials and presidential confidants who spoke on condition of anonymity to discuss private conversations.

A change is underway as well among congressional Democrats, who have long believed the report would offer damning evidence against the president. The Democrats are busy building new avenues for evidence to come out, opening a broad array of investigations of Trump’s White House and businesses that go far beyond Mueller’s focus on Russian interference to help Trump beat Democrat Hillary Clinton. It’s a striking role reversal. No one knows exactly what Mueller will say, but Trump, his allies and members of Congress are trying to map out the post-probe political dynamics.

[..] If the report proves anticlimactic, says former House Speaker Newt Gingrich, a strong Trump ally, “there would no longer be any justification for what the House Dems want to do. They have their report, they had the guy they wanted writing it, and he had the full power of the federal government behind him and they still didn’t get the president. “Trump can say: Here is the report. I didn’t fire Mueller, I didn’t interfere with him. If you want to keep investigating me, it just shows that it is purely partisan.”

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What then is the real question about Adam Schiff?

Schiff: Real Question Is If Trump Is Under Influence Of A Foreign Power (NBC)

Nearly two years into his investigation, special counsel Robert Mueller has not accused any member of the Trump campaign of conspiring with the 2016 election interference effort — and it’s not clear whether he will. But legal experts, along with the congressman leading the House Russia investigation, tell NBC News that the most important question investigators must answer is one that may never have been suitable for the criminal courts: Whether President Trump or anyone around him is under the influence of a foreign government. “It’s more important to know what Trump is NOW than to know what he did in 2016,” said Martin Lederman, professor at the Georgetown University Law Center and former deputy assistant attorney general in the Department of Justice’s Office of Legal Counsel during the Obama administration.

“It’s more important to know whether he has been compromised as president than whether his conduct during the campaign constituted a crime.” Whether Mueller will answer that question in the absence of criminal charges is unclear. But in an interview with NBC News, House Intelligence Committee Chairman Adam Schiff said he is steering his investigation in a new direction to focus on it — and he will demand any relevant evidence compiled by the FBI or Mueller’s team. The California Democrat also expressed concern that Mueller hasn’t fully investigated Trump’s possible financial history with Russia. “From what we can see either publicly or otherwise, it’s very much an open question whether this is something the special counsel has looked at,” Schiff told NBC News.

Schiff said the public testimony from former Trump lawyer Michael Cohen that in 2016 Trump stood to earn hundreds of millions of dollars from a secret Moscow real estate project is a staggering conflict of interest that must be fully explored. “I certainly agree that the counterintelligence investigation may be more important than the criminal investigation because it goes to a present threat to our national security — whether the president and anybody around him are compromised by a foreign power,” Schiff said. “That’s not necessarily an issue that can be covered in indictments.”

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Sore losers all around.

Mueller Suspected Cohen May Have Been Acting As Foreign Agent In 2017 (G.)

Robert Mueller persuaded a judge within weeks of being made special counsel in 2017 that Michael Cohen, Donald Trump’s legal fixer, may have been secretly working for a foreign government. Legal filings unsealed on Tuesday said investigators working for Mueller were granted access to Cohen’s personal email account on 18 July 2017 on the basis that he may have broken several laws, including those on unregistered foreign agents. Cohen’s suspected efforts were not detailed in the documents. Cohen, one of Trump’s closest advisers for a decade, was known to have been paid in 2017 for consulting work by a state-controlled South Korean aviation company and a bank in Kazakhstan.

The filings said Mueller’s investigators were looking in Cohen’s Gmail account for records on any “funds or benefits” he received from foreign governments or companies, as well as any files revealing efforts by Cohen to work on their behalf. The court documents were released by a federal judge in New York, where Cohen pleaded guilty last year to campaign finance and personal financial crimes. They were originally filed by investigators in April last year to obtain additional search warrants. It was not previously known that Cohen was suspected of crimes relating to representing foreigners without registering with US authorities, and no such charges were brought against him. Cohen was sentenced to three years in prison and is due to be jailed in May.

The filings released on Tuesday ran to hundreds of pages. More than 19 pages, apparently relating to the campaign finance scheme, were entirely blacked out, indicating that it remains under investigation. Cohen directly implicated Trump in the scheme, which involved hush-money payments to women who alleged during the 2016 campaign that they had affairs with Trump. Some legal analysts have said Trump could be vulnerable to prosecution for the scheme once he leaves office. He denies breaking any laws.

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9 days and it gets serious.

EU’s Barnier: UK Can’t Delay Brexit Without Clear Plan Of Action (Ind.)

The EU has said Britain cannot delay Brexit without a clear plan for what happens next, indicating only an election, a new referendum or major compromise on Theresa May’s red lines will suffice. In an ultimatum, Michel Barnier said there would need to be a “new event or new political process” to secure an extension to the Article 50 negotiating period. Brussels’ intervention represents yet another blow for the prime minister, who planned to ask for a delay at this week’s European Council meeting as part of a drive to finally push through her twice-defeated Brexit deal. She is already having to grapple with the new obstacle thrown in front of her by Commons speaker John Bercow who has tried to block her from putting the deal in front of MPs for a third time.

Any move to secure a long delay to Brexit is likely to infuriate Leave-backing Tory MPs and could even lead to cabinet resignations. A meeting of her top ministers on Tuesday ended with Brexiteer ministers making grave warnings about the collapse of their party if it fails to deliver Britain’s departure. Theresa May is set to write to European Council president Donald Tusk, laying out her proposal to delay Brexit beyond March 29 – something that requires the approval of all 27 remaining member states at the summit on Thursday. The Independent understands that one approach being considered is to ask for a lengthy extension to the Article 50 period, with the option of an early break if Ms May can get her deal through parliament.

But Mr Barnier poured cold water on the idea, telling a reporter who asked him about it: “You said both short and long – well, it’s either one or the other, isn’t it?” He added: “My feeling is … a longer extension needs to be linked to something new. There needs to be a new event or a new political process.” Mr Barnier told a news conference in Brussels: “It is our duty to ask whether this extension would be useful because an extension will be something which would extend uncertainty, and uncertainty costs.” He again warned that the UK would need to propose “something new” to justify a lengthy extension. A “new event” can only really mean giving the British public a Final Say referendum or an election, while a new process is likely to refer to a push to rewrite Ms May’s strategy to include a closer relationship with the EU, possibly a permanent customs union.

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What I liked about this when I read it yesterday was May refusing to say how long an extension she was asking for.

Theresa May Asks Eu For Brexit Delay With Cabinet In Deadlock (G.)

Theresa May will be forced to write to EU leaders on Wednesday and beg them to delay Brexit, with her cabinet deadlocked over the best way out of what Downing Street now concedes is a “crisis”. The government had maintained until the last possible moment that Brexit could go ahead as planned on 29 March or after a brief “technical extension”. But after the Speaker, John Bercow, ruled the prime minister could not put her deal to parliament unchanged for a third “meaningful vote,” her spokesman conceded it was now too late to leave with a deal.

He said May would write to the European council president, Donald Tusk, to ask for an extension to article 50, before EU leaders meet in Brussels on Thursday. He declined to say how long a delay she would request, or for what purpose, simply insisting: “You’re going to have to wait for that letter to be published.” Asked whether May agreed with the solicitor general, Robert Buckland, who described the situation after Bercow’s ruling on Monday as a “constitutional crisis”, her spokesman said: “If you were to look back at the speech the prime minister gave, just before meaningful vote two, she said that if MPs did not support meaningful vote two we would be in a crisis. Events yesterday tell you that that situation has come to pass.”

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It doesn’t matter what she asks for, but what they are willing to give.

Theresa May Will Not Ask EU For Long Brexit Extension (BBC)

Theresa May will not be asking the EU for a long delay when she formally requests that Brexit is postponed. Number 10 said the PM shared the public’s “frustration” at Parliament’s “failure to take a decision”. EU Brexit negotiator Michel Barnier has said the EU will not grant a delay without a “concrete plan” from the UK about what they would do with it. Under current law, the UK will leave the EU – with or without a deal – in nine days. BBC assistant political editor Norman Smith said the delay would not be beyond the end of June. Any delay will have to be agreed by all 27 EU member states and Mrs May is heading to Brussels on Thursday to discuss the matter with fellow leaders.

Explaining that Mrs May “won’t be asking for a long extension” when she writes to the EU, Number 10 said: “There is a case for giving Parliament a bit more time to agree a way forward, but the people of this country have been waiting nearly three years now. “They are fed up with Parliament’s failure to take a decision and the PM shares their frustration.” It comes after MPs rejected the withdrawal deal Mrs May has negotiated with the EU for a second time last week by 149 votes. They also voted in favour of ruling out leaving the EU without a deal, and in favour of extending the Brexit process.

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All these people love the sound of their own voices.

Tory MPs Vow To Quit Party If Boris Johnson Becomes Leader (G.)

Conservative MPs are orchestrating against a potential leadership campaign by Boris Johnson, with several talking of resigning the whip if he were to become party leader. With Tories convinced that Theresa May’s days in No 10 are numbered, MPs are feverishly discussing who will seek to replace her, how organised the teams are and whether a general election would be necessary. Johnson is the current favourite of Brexit-backing Tory activists, who will pick the leader out of a final two candidates. However, the former London mayor would first have to clear the hurdle of convincing Conservative MPs to put him on the final list of two.

One minister said she would leave the party if Johnson and his supporters, such as Jacob Rees-Mogg, took over the Conservatives. Another minister said he knew of five or six Conservatives who were openly saying they were so opposed to a Johnson premiership that they could not stay in the party run by him and a group of “Brexit ultras”. Anna Soubry, the former Tory minister who quit to join the new Independent Group, said she believed “people will leave” if Johnson were to become prime minister. [..] Backers of Johnson believe MPs could swing behind him if they believe an election is not far away, because he is already a household name to put up against Labour’s Jeremy Corbyn.

“Who outside Westminster has heard of Dominic Raab?” asked one Brexit supporting MP who wants Johnson to deliver May a message that she must stand down soon regardless of whether her Brexit deal passes. “Boris still has the star quality that we would need with the electorate to beat Corbyn if there is going to be an election soon. And there is going to be an election in 2019 if you look at parliament.”

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Something’s brewing.

Chinese Companies Default On Their Debts At An ‘Unprecedented’ Level (CNBC)

An economic slowdown and extremely tight credit conditions pushed corporate debt to a record high in China last year, according to experts. Defaults for Chinese corporate bonds — issued in both U.S. dollars and the Chinese yuan — soared last year, according to numbers from two banks. Japanese bank Nomura’s estimates, provided to CNBC, were even higher, putting the size of defaults in onshore bonds — or yuan-denominated bonds — at 159.6 billion yuan ($23.8 billion) last year. That number is roughly four times more than its 2017 estimate. Offshore corporate dollar bonds, or U.S. dollar-denominated debt issued by Chinese companies, followed the same trend.

Nomura said the amount of such debt rose to $7 billion in 2018, from none the year before. “China witnessed an unprecedented wave of corporate bond defaults last year, in a fresh sign of wobbles hitting financial markets as slowdown deepens,” said DBS analysts in the report. According to DBS, the energy sector bailed on 46.4 billion yuan of payments in 2018 — making up almost 40 percent of all defaults in yuan-denominated debt. Consumer companies were the next worst hit, according to the bank’s report. “The default wave is extending into 2019 … Given the reduced risk appetite and huge maturing volume, the outlook is poor,” DBS said, adding that there are 3.5 trillion yuan in corporate bonds due this year.

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I got back to Athens a few days ago, and this is the talk of the town. Greeks being evicted from their apartments because some Chinese ‘investor’ is Airbnb-ing entire buildings. Soon there’ll be hardly any Greeks left in the city core, and it’ll turn into Disneyland.

Foreigners Buy Up Athens Real Estate For Short-Term Rentals (K.)

The Greek property market appears to have emerged from its decade-long hibernation: Bank of Greece figures showed that 1.35 billion euros flowed into the country last year for property purchases (mainly houses) by foreign investors. That figure constitutes a 172 percent annual increase, after an 86.5 percent rise in 2017, when inflows had amounted to 500 million euros. House prices increased 1.5 percent in 2018 compared to 2017, when there had been a 1 percent yearly decline. Realty professionals say that investments by foreign individuals and medium-sized investors in the local housing market peaked in 2018, with a focus on flats in the center of Athens, apartments in the southern suburbs of Attica and luxury holiday homes.

This huge rise was fed by the prospects for the utilization of apartments through short-term leasing platforms such as Airbnb, Booking and HomeAway, by the appeal of the Golden Visa program, which grants five-year residence permits to foreign nationals who invest at least 250,000 euros in Greek realty, and by the continued increase in tourism, which has raised demand for holiday homes. Data from the land registry of Athens concerning the first eight months of 2018 showed a 60 percent annual increase in transactions.

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Mar 102019
 
 March 10, 2019  Posted by at 10:59 am Finance Tagged with: , , , , , , , , , , , , , ,  


Arthur Rothstein Girl at Gee’s bend 1937

 

Bruce Ohr’s Testimony Contradicts Rosenstein And Simpson (Sara Carter)
Three-Quarters Of New Voters Would Back Remain In Second Brexit Referendum (G.)
Last-Ditch Brexit Negotiations Descend Into Open Hostility (Ind.)
Theresa May Warned Another Brutal Brexit Defeat In Commons Inevitable (Sky)
May Staggers On Amid Predictions Of Her Political Demise (AFP)
Belgium Tells Companies To Halt Exports To UK After March 29 (Ind.)
Joe Biden Tops 2020 Iowa Democratic Presidential Poll Ahead Of Sanders (AP)
Tulsi Gabbard Takes a Strong Stand For WikiLeaks (CF)
Elizabeth Warren Defends Her Big Tech Breakup Proposal (AT)
EU Plan To Rein In Facebook And Google Will Do Exactly The Opposite (G.)
Italian PM Sets Conditions Over Rail Link To Defuse Crisis (R.)
How America’s Food Giants Swallowed The Family Farms (G.)
Is The World’s Most Popular Weedkiller Carcinogenic? (G.)

 

 

The US went to Daylight Saving Time 3 weeks ahead of Europe. Caught me by surprise.

Do I need to call for a 2nd Special Counsel again? What a friggin mess.

Bruce Ohr’s Testimony Contradicts Rosenstein And Simpson (Sara Carter)

1. Glenn Simpson suggests in his testimony to the Senate that he never spoke to anyone at the FBI about Christopher Steele, the former British spy he hired to investigate the Trump campaign during the election. However, Ohr suggest otherwise telling former Rep.Trey Gowdy under questioning “As I recall, and this is after checking with my notes, Mr. Simpson and I spoke in August of 2016. I met with him, and he provided some information on possible intermediaries between the Russian government and the Trump campaign.”

2. In another instance, Simpson’s testimony also contradicts notes taken by Ohr after a meeting they had in December, 2016. Unverified allegations were decimated among the media that the Trump campaign had a computer server that was linked to a Russian bank in Moscow: Alpha Bank. Simpson suggested to the Senate that he knew very little about the Trump -Alpha Bank server story and couldn’t provide information. But Bruce Ohr’s own handwritten notes state that when he met with Simpson in December 2016, Simpson was concerned over the Alpha Bank story in the New York Times. “The New York Times story on Oct. 31 downplaying the connection between Alfa servers and the Trump campaign was incorrect. There was communication and it wasn’t spam,” stated Ohr’s notes. This suggests that Simpson was well aware of the story, which was believed by congressional investigators to have started from his research firm.

3. Ohr testified to lawmakers that Simpson provided information to federal officials that was false regarding Cleta Mitchell, a well-known Republican campaign finance lawyer, and information regarding the National Rifle Association. Sean Davis, with the Federalist pointed this out in a tweet today.

4. Deputy Attorney General Rod Rosenstein would not answer questions to lawmakers during testimony about when he learned that Ohr’s wife, Nellie Ohr, was working for Fusion GPS. Just check this out from Rep. Matt Gaetz’s interview with Judge Jeanine on Fox News. “Rod Rosenstein won’t tell us when he first learned that Nellie Ohr was working for Fusion GPS,” said Gaetz, in August, 2018. “So I want to know from Bruce Ohr, when did he tell his colleagues at the Department of Justice that in violation of law that required him to disclose his wife’s occupation his sources of income. He did not do that. So when did all of the other people at the Department of Justice find this out because Rod Rosenstein, I’ve asked him twice in open hearing and he will not give an answer. I think there’s a real smoking gun there.”

However, in Ohr’s testimony he says he told the FBI about his wife’s role at Fusion GPS but only divulged his role to one person at the DOJ: Rosenstein. At the time, Rosenstein was overseeing the Trump-Russia probe, and had taken the information from Ohr and gave it to the FBI. Just read The Hill’s John Solomon full story here for the full background on Ohr’s testimony. I highlighted an important date below: remember Rosenstein wouldn’t answer lawmakers questions as to when he knew about Nellie Ohr. It also appears he failed to tell lawmakers about the information he delivered to the FBI.

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You go tell them they don’t count.

Three-Quarters Of New Voters Would Back Remain In Second Brexit Referendum (G.)

Some 87% of people who were too young to cast a ballot in the 2016 Brexit referendum but have since reached voting age would “definitely” take part if a second public vote were called, according to a new poll. And of the estimated 2 million new young voters, 74% would back remain. The survey, carried out by BMG on behalf of the anti-Brexit youth groups Our Future, Our Choice and For Our Future’s Sake, suggests the youth vote would be crucial in any second remain campaign and could significantly boost its chances of overturning the 2016 leave result.

The survey polled two groups: those who were too young to vote in 2016 and those who were eligible to vote but chose not to. Some 72% of those too young to vote in the original referendum feel it would be unfair if Britain left the EU without them having been able to vote on the issue. Only 3% of this demographic believe Britain’s standing in the world has increased since the referendum in June 2016. Further figures from the survey reveal that only 4% of this age group have had contact with their local MPs regarding Brexit. The proportion of young voters who would be angry if Britain left the EU without a public vote significantly outweighs those who would be happy – 55% to 9%.

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I was just watching Brexiteer David Davis saying the UK must be able to cut the Irish backstop when it wants, not wait for the other side to agree. But that would mean Ireland having no say at all in the matter.

Last-Ditch Brexit Negotiations Descend Into Open Hostility (Ind.)

Last-ditch negotiations in the Brexit process have descended into open hostility as one senior minister accused the EU of playing “games” with just three days to go until MPs vote on Theresa May‘s plans. After an extraordinary exchange between the Brexit secretary Stephen Barclay, and the EU’s chief negotiator on social media, the Commons leader Andrea Leadsom said she was was “deeply disappointed with what we’re hearing coming out of the EU”. “I do have to ask myself what games they are playing here,” the cabinet minister told Reuters after Mr Barclay accused Michel Barnier of trying to “rerun old arguments” as hopes of a Brexit breakthrough began to fade before Tuesday.

It comes as Westminster prepares for another week of political turmoil, with MPs gearing up to vote on the prime minister’s deal for a second time. Unless Ms May manages to secure last-minute concessions from Brussels over the weekend and into Monday, it appears she will suffer yet another heavy defeat in the House of Commons, throwing the Brexit process into further uncertainty. Ms Leadsom said she was still hopeful of a breakthrough, but added it would depend on the EU “coming to the table and taking seriously the [UK’s proposals]”. During a speech on Friday, Ms May pleaded with EU leaders to give ground in the negotiations as she told them: “Let’s get it done”. But hours later Mr Barnier indicated on his Twitter account that if the UK did not like the deal on the table, it could accept an alternative already rejected outright by the prime minister in the negotiating process.

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Will she last the week then?

Theresa May Warned Another Brutal Brexit Defeat In Commons Inevitable (Sky)

Theresa May has been warned another brutal Commons defeat over her Brexit deal is “inevitable” without late changes to the Northern Ireland backstop. The prime minister is preparing for a huge week in Westminster, with the withdrawal agreement she struck with Brussels set to go before parliament yet again. She has been trying to secure legally binding changes to the unpopular backstop to convince MPs that the UK cannot be tied indefinitely to EU rules against its wishes, which she hopes would be enough to get the deal through. But the likelihood of that happening appears remote as the clock continues to tick down, and further doubt has been cast over her chances by sceptical Brexiteers who she has been trying to win over.

Steve Baker, deputy chairman of the pro-Brexit Tory European Research Group, and DUP deputy leader Nigel Dodds have described the situation as “grim”. In a joint article for The Sunday Telegraph, the pair said: “An unchanged withdrawal agreement will be defeated firmly by a sizeable proportion of Conservatives and the DUP if it is again presented to the Commons.” They predict that a “three-figure majority” will reject the deal in its current state, with it having already been voted down by 230 MPs back in January. It had been speculated that Mrs May could try to secure a third meaningful vote if she loses by less than 50 on Tuesday, but a loss as predicted by Mr Baker and Mr Dodds would make that prospect unlikely.

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“the living embodiment of a closed door”

May Staggers On Amid Predictions Of Her Political Demise (AFP)

Whether her Brexit deal passes parliament or not this week, British Prime Minister Theresa May’s days are numbered, experts have said. The Conservative leader has in the past won praise for her determination and ability to survive what has often felt like one long political crisis since the 2016 EU referendum. But her approach to the Brexit endgame, seeking changes to the deal she herself negotiated with under three weeks to go until exit day, has prompted frustration and anger on all sides. Pro-European ministers are in revolt over the risk of a “no deal” exit, while Brexit hardliners are livid that her promise of a decisive divorce appears to be receding.

At the same time, criticism of May’s legacy from six years as interior minister is growing following a surge in knife crime and an ongoing row over the treatment of migrants. “At first she appeared to be a unifier, but she turned out to have too little courage, imagination or skill to lead the Brexit negotiations,” said an editorial in the Conservative-backing Spectator magazine. It reluctantly urged MPs to back May’s divorce deal on Tuesday, but only so that Britain could “turn the page on this unhappy chapter of our political history”.

[..] in the last election, she struggled to engage with voters and was dubbed the “Maybot” after churning out the same answers and speeches over and over again. Critics complain of similar difficulties in communicating during the Brexit talks, and even her own ministers are reportedly unsure what she will do if her deal is voted down. Matthew Parris, an anti-Brexit former Conservative MP who now writes for The Times, said he once thought May was a merely an “unremarkable” politician dealing with a tough situation. But he said her inability to engage with colleagues had exacerbated divisions over Brexit, describing her as “the living embodiment of the closed door”.

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Too much hassle.

Belgium Tells Companies To Halt Exports To UK After March 29 (Ind.)

Belgium’s customs authority is advising companies that export to the UK to halt shipments after Brexit day to avoid customs chaos in the event of a no-deal scenario. Kristian Vanderwaeren, chief executive of Belgian customs, called for a “Brexitpauze” after 29 March and said firms should do as much of their exporting as they can before new controls have to come in. “Who are we as customs to give the business world instructions? But we are still asking the SMEs and all other parties to wait. Do the necessary export to your customers before 29 March,” he told Belgian business newspaper De Tijd. Mr Vanderwaeren said larger industries “such as pharmaceutical companies and car manufacturers” had been “storing stock in the UK for months” to avoid having to get parts through after Brexit but that the vast majority of businesses were not well prepared with just weeks to go.

Belgium’s main port of Zeebrugge is expected to have to deal with around a million additional import declarations and 4.5 million extra export declarations once the UK leaves the single market and customs union. The warning follows chaos and hours of delays at Calais and the Eurostar terminal in Paris after French customs officers carried out a trial of the sort of checks they would have to impose under a no-deal Brexit. The customs chief also warned that many small businesses that dealt with the UK were simply not prepared to export and that it would be better for them to pause operations. “Our customs authority has written letters to some 20,000 companies that trade with the UK telling them they have to apply for an EORI number, which is necessary to be able to import and export,” Mr Vanderwaeren told the newspaper.

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New Iowa poll from CNN/DMR:
Biden – 27%
Sanders – 25%
Warren – 9%
Harris – 7%
O’Rourke – 5%
Booker – 3%
Klobuchar – 3%

Shout out to Michael Tracey on Twitter: “Biden running could be useful in the sense that it’ll keep the 2020 debate grounded in some semblance of historical perspective. Re-examining his decades-long record will necessitate this. Otherwise, the candidates would all pretend that the USA’s problems began on Jan. 20, 2017.”

Joe Biden Tops 2020 Iowa Democratic Presidential Poll Ahead Of Sanders (AP)

The former US vice-president Joe Biden has topped a poll of Iowa voters on Saturday that also showed Senator Bernie Sanders gaining momentum against him in the number two spot. Biden, who has not announced whether he is running in the 2020 election, is the first choice for president of likely Iowa Democratic caucus-goers with 27% in the Des Moines Register/CNN/Mediacom Iowa Poll. Sanders, 77, got 25%. “If I’m Joe Biden sitting on the fence and I see this poll, this might make me want to jump in,” J Ann Selzer, president of Selzer & Co, which conducted the poll, told the Des Moines Register. The newspaper’s Iowa poll has a long track record of relative accuracy in the state that kicks off the presidential nominating process. In this cycle, Iowa will hold the first contest in the Democratic race in February 2020.

[..] It was the Register’s first Iowa poll since candidates began jumping into the race at the beginning of the year. The poll also surveyed support of likely Iowa caucus-goers on issues that have dominated the early discussion and drawn support from most of the Democratic presidential contenders. The Green New Deal, a proposal by Democrats in Congress to tackle climate change, was supported in full by 65% of the Democratic voters, partially by 26%, with 4% against. The deal would fund government programs on clean energy and make buildings energy efficient while helping to address poverty.

Support was also measured for Medicare-for-all, a plan first proposed by Sanders in 2017, to replace the current mix of private and government-financed healthcare coverage with a universal coverage plan funded solely by the government. It was supported by 49% of the likely caucus-goers, partially by 35%, with 11% against.

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Gabbard isn’t even in that poll at all. Nice she speaks out, and nice the right wing is with her, but this is not about WikiLeaks going from a news organization (Obama Admin’s designation) to a hostile intelligence agency (Trump Admin’s designation). Because Assange has been locked up since 2012, no matter designation Obama gave him. That’s what counts.

Tulsi Gabbard Takes a Strong Stand For WikiLeaks (CF)

Democratic presidential candidate Tulsi Gabbard, who has already taken a lot of heat from her party for being outspoken against senseless war and regime change, has released a strong statement in support of WikiLeaks. Gabbard, who is also a veteran, took to Twitter to talk about the dangers of designating the award-winning news organization a “hostile intelligence agency.” “If the government can change the designation Wikileaks from being a news organization (Obama Admin’s designation of Wikileaks) to a hostile intelligence agency (Trump Admin’s designation), then any entity – online and offline – is in danger of being designated a ‘hostile intelligence service’ if they carry out investigative reporting that the US government or a particular administration considers to be hostile to itself,” Gabbard wrote in a series of tweets on Saturday.

“This will have a chilling effect on investigative reporting of powerful government agencies or officials, including the president, intel agencies, etc. This is a serious breach of our constitutional freedoms and every American – Democrat, Republican or Independent – must stand up against it.” During his presidential campaign, President Donald Trump repeatedly expressed support for WikiLeaks, even saying that he “loves” the publisher, yet his administration has dramatically ramped up efforts to extradite the website’s founder Julian Assange to face charges in the US.

Whistleblower and WikiLeaks source Chelsea Manning is currently sitting in jail after refusing to testify before a secret grand jury regarding WikiLeaks’ 2010 publication of the war logs. Manning was granted immunity for the testimony, but refused to participate in the political persecution of the news organization as she has a deeply held opposition to secret grand juries. Gabbard is famous for taking a stand when others won’t, even resigning from the Democratic National Committee during the 2016 election — as she supported Senator Bernie Sanders and was no longer impartial. She has faced backlash from both the right and the left for her principled belief in avoiding war whenever possible.

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Warren needs a profile or people will forget about her.

Elizabeth Warren Defends Her Big Tech Breakup Proposal (AT)

“Today, we have companies like Amazon: they have a platform. I buy a coffee maker and use it all the time, but Amazon also sucks out an incredible amount of info about every buyer and every seller. Then, Amazon makes the decision to have a competing coffee machine and drive out the business in that space,” she explained. “They have this incredible advantage from the information they get from their platform and the fact they can also manipulate the platform, putting themselves on page 1 and put the competitor on page 16 where no one ever goes… My view is break those things apart, and we’ll have a more robust market in America.”

Warren touched on many topics over the course of her hour-long conversation with Giridharadas, but her support of free markets and capitalism—in particular how those ideas need to be instituted fairly within industries like tech—came up again and again. The senator had multiple, varied analogies at the ready to help. If baseball is your language, Warren likened Big Tech’s current situation to the conflict of interest that might exist if one individual was, say, both umpire and team owner. If you prefer American history, she sees the power and influence of Google, Amazon, et al. as analogous to the railroads of the 1800s.

“The railroads of the Teddy Roosevelt era were the big monopoly of the 1800s—the railroads were where you had to be if you had a steel mill, wheat, or corn, you had to get your goods to the railroad,” Warren said. “What happened? Railroads figured out they could price differently depending on your desperation or whether they had a competitor in the field. They’d start their own steel company and then give discount rates to move that along and sell at a cheaper price, but they’d raise prices for competitors. “In that sense, what’s new is old,” she continued. “When someone gets market dominance, they destroy competition. The world that gave them birth, to get the opportunity to go and grow and do something, [the company] has grown big enough to destroy everything around it.”

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Still waiting for those new laws.

EU Plan To Rein In Facebook And Google Will Do Exactly The Opposite (G.)

The growth of the internet and user-generated content in the past 15 years has been underpinned by speed and ease of use. The foundations for this are commonly referred to as “safe harbour” provisions in copyright law. This means that organisations that allow users to upload content to their websites – Wikipedia, YouTube, Facebook et al – are not liable for copyright infringement of their users, but are required to speedily remove content after the fact, if a copyright makes a complaint. Now, through article 13 of its new copyright directive, the EU is curtailing these safe harbour provisions, and thereby challenging the very basis of a free and open internet.

Imagine that you upload content to a video-sharing website and then have to wait for days for it to appear after it is vetted. That could be the future of the internet in the EU. The EU’s actions appear to be targeted at reducing the immense power of the likes of Facebook and Google. There is no question that their power needs to be reduced – but copyright law is not the correct approach. Blindly removing copyrighted content uploaded by users will snag legitimate fair-uses and inevitably result in a chilling effect on criticism, debate and commentary – so ultimately this threatens democracy and society at a time when it is especially vulnerable.

[..] the EU’s proposed copyright law amendments are ill-advised. It creates barriers to entry for newcomers to challenge incumbents, and only serves to strengthen the already powerful. Google and Facebook have the economic wherewithal to oversee all the content uploaded to their platforms. While it might increase costs for them, the vastly greater effect is on financially weaker competitors and any new, disruptive entrants on the horizon. New businesses will be hindered, forced to exist without the freedom that Google and Facebook once enjoyed to become the giants they are today. Instead of tackling the power of the internet giants, the new law will further secure their dominance. Two aspects of the EU law stand out. First, the notable exception from this law is for “non-profit encyclopedias” – which is essentially code for “Wikipedia”. Wikipedia should recognise the exception for what it is – a clever way to buy its silence.

And Wikipedia should rise above it and simply not accept it. Today, the site is a manifestation of a free and open internet. Wikipedia, if true to its ideals, should go dark in protest. Second, the EU seems to have recognised that innovation can be hindered and competition thwarted with article 13. As a result, there seems to be exceptions designed for small and young companies. To avail of this exception, companies must be less than three years old. But what about companies that take longer to grow? If the EU really wants to curtail the tech giants, they should go by market capitalisation, revenue and funds raised: say for example, a company that is valued at $1bn, has $50m in revenue, or has raised cumulatively at least $200m. These numbers could be anything, but at least a calibrated and targeted approach should be used – not arbitrary timings.

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My theory is Salvini wants the rail line, but he can’t keep himself from pissing off Macron.

Italian PM Sets Conditions Over Rail Link To Defuse Crisis (R.)

The multibillion-euro TAV link (Treno Alta Velocita) is backed by Matteo Salvini’s League party but strongly opposed by its coalition partner, 5-Star Movement, which argues that Italy’s share of the funding would be better spent upgrading existing roads and bridges. Tensions between the two sides had escalated ahead of a Monday deadline for the company overseeing the project, TELT, to launch tenders to carry out works on it, threatening to bring down the government. But Prime Minister Giuseppe Conte said in a post on Facebook he had asked TELT to halt the finalization of tenders for the rail link because his government had committed to “totally re-discussing” the project.

Conte published a response from TELT, which said it would call for expressions of interest from potential contractors for the French portion of the rail link on Monday, effectively launching the tender process, in order to avoid losing European Union funding. However, it said it would not proceed with the definition of contracts without the consent of both the Italian and French governments. Sources close to the matter said it normally takes six months between the launch of tenders and the next phase, when contract specifications are detailed.

The TAV is a joint venture between the Italian and French states to link the cities of Turin and Lyon with a 58-km (36-mile) tunnel through the Alps on which work has already begun. The EU has pledged to fund up to 40 percent of the costs of the TAV, Italy up to 35 percent and France up to 25 percent. Italy’s transport minister, a 5-Star official, puts the total price tag at more than 20 billion euros ($22.6 billion). His French counterpart, Elisabeth Borne, said on Friday the European Commission had let it be known it was willing to increase its share to 50 percent, leaving France and Italy to finance 25 percent each.

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The US is already a socialist country, it’s just that their version is socialism for the rich. Huge amounts of subsidies are paid out to kill off small business. It’s exactly what the Soviet Union and China did.

How America’s Food Giants Swallowed The Family Farms (G.)

Tim Gibbons of Missouri Rural Crisis Center, a support group for family farmers set up during the 1980s farm crisis, says the cycle of economic shocks has blended with government policies to create a “monopolisation of the livestock industry, where a few multinational corporations control a vast majority of the livestock”. Gibbons explains: “They are vertically integrated, from animal genetics to grocery store. What they charge isn’t based upon what it costs to produce, and it’s not based on supply and demand, because they know what they need to make a profit. What they have done, through government support and taxpayer support, is to intentionally overproduce so that the price stays low, sometimes below the cost of production. That kicks their competition out of the market. Then they become the only player in town.

“Over time, it has extracted wealth and power from communities. We can see how that has impacted rural main streets. You can see the boarded-up storefronts. You can see the lack of economic opportunity.” Gibbons says that corporations game the system by obtaining low-interest, federally guaranteed loans to build Cafos that then overproduce. But they know the government will buy up the surplus to stabilise prices. “The system has been set up for the benefit of the factory farm corporations and their shareholders at the expense of family farmers, the real people, our environment, our food system,” he adds.

“The thing that is really pervasive about it is that they control the rules of the game because they control the democratic process. It’s a blueprint. We’re paying for our own demise. “It would be a different argument if it was just based upon inevitability or based on competition. But it’s not based upon competition: it’s based upon squelching competition.”

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Monsanto has succeeded in putting science upside down. If you can’t prove 100% that Roundup causes cancer, they argue they should be able to spray 6.1 billion kilos of it over your food. That is of course utter insanity. They must prove it is NOT carcinogenic, and until then it should not be allowed in the open.

Is The World’s Most Popular Weedkiller Carcinogenic? (G.)

An estimated 6.1 billion kilos of glyphosate-based weedkillers were sprayed across gardens and fields worldwide between 2005 and 2014 (the most recent point at which data has been collected). That is more than any other herbicide, so understanding the true impact on human health is vital. [..] There is no question that the glyphosate debate has become highly politicised in recent years. Despite the limited evidence linking glyphosate to health risks, a European Citizens Initiative petition against its use in agriculture still garnered 1.3 million signatures, with the European Union’s 2017 decision to license it for another five years sparking mass protests across the continent.

In addition to cancer, environmental activists have claimed links between herbicide exposure and everything from coeliac disease to autism, while on the other side of the fence, regulatory agencies blame an ongoing anti-GM agenda for driving public sentiment against this small molecule. If glyphosate is banned, campaigners will have struck another severe blow against GM crop production. “My personal perception is that glyphosate has become a symbol for the use of chemicals in agriculture and the way we produce food in Europe,” says Dr Bernhard Url, executive director of Efsa. “When science meets values, things become complicated. So when politicians are confronted with the opinion of Efsa that glyphosate is safe, they say, ‘No, I don’t want to hear that glyphosate is not carcinogenic because it doesn’t fit into my world view.

“I want a world without agrochemicals and if you, Efsa, tell us that glyphosate is safe to be used, you must be corrupt.’” A 2016 study which found a 1,000% rise in the levels of glyphosate in our urine in the past two decades – suggesting that increasing amounts of glyphosate is passing through our diet – provoked further outrage. Except it isn’t really clear whether that has any consequences at all for our health. An Efsa letter, published in the journal Nature, pointed out that glyphosate residues found in Italian pasta or German beer would only exceed known risk thresholds if someone were to consume their entire body weight’s worth of those products in a single day.

Read more …

Feb 272019
 
 February 27, 2019  Posted by at 10:36 am Finance Tagged with: , , , , , , , , , , , , ,  


Salvador Dali Remorse – Sphinx Embedded in the Sand 1931

 

Michael Cohen Testimony: Trump A ‘Racist’, ‘Cheat’ And ‘Conman’ (G.)
3 Days That Will Decide Brexit – March 12-14th Will Seal Britain’s Fate (Exp.)
UK Economy Could Be 9% Weaker Under No-Deal Brexit – Government (G.)
The UK Doesn’t Have The Right Pallets For Exporting To The EU (BI)
The War on Venezuela is Built on Lies (Pilger)
Survival of the Richest (Nomi Prins)
Hey Yellen, It Was Trump Who Was Right (Every)
Now that Housing Bubble #2 Is Bursting…How Low Will It Go? (CHS)
Russia’s Share Of European Gas Market Surges To Almost 37%, Dwarfing LNG (RT)
UK Hunger Survey To Measure Food Insecurity (G.)
Glyphosate Found In 95% Of Wine And Beer (Ind.)
Am I The Only One Who’s Terrified About The Warm Weather? (G.)

 

 

Lots of wet panties, male and female, today in anticipation of Michael Cohen’s testimony. Of course, it’s been leaked, full text is here. A few quotes:

I may once again be in a party of one, but I think it’s awfully weak, it’s grasping for stuff rather than conveying it. First, there’s the inevitable Assange link:

In July 2016 [..] Mr. Stone told Mr. Trump that he had just gotten off the phone with Julian Assange and that Mr. Assange told Mr. Stone that, within a couple of days, there would be a massive dump of emails that would damage Hillary Clinton’s campaign. Mr. Trump responded by stating to the effect of “wouldn’t that be great.”

Anything related to Assange, whether from Mueller or Cohen, lacks credibility as long as he can’t defend himself against it. And Trump merely says: wouldn’t that be great? Not exactly the stuff of collusion or conspiracy.

Just as inevitable in smear campaigns: Trump the racist.

Mr. Trump is a racist. The country has seen Mr. Trump court white supremacists and bigots. You have heard him call poorer countries “shitholes.” While we were once driving through a struggling neighborhood in Chicago, he commented that only black people could live that way. And, he told me that black people would never vote for him because they were too stupid.

Calling a country a shithole is not racist. The policies that have created a situation in which many shithole countries are populated by black people stem from many decades of US/Europe policies that predate Trump. The rest is not racist either, if you look closer. Perhaps Trump is a bit racist, like so many Americans. But Cohen’s prepared words don’t show that.

Also: Trump doesn’t tell the full truth about his wealth. But Michael Cohen always has…

It was my experience that Mr. Trump inflated his total assets when it served his purposes, such as trying to be listed among the wealthiest people in Forbes, and deflated his assets to reduce his real estate taxes.

Gee, lock him up. I don’t get it. There’s so much wrong with Trump, but politics and media have singled out Russia collusion, and then failed to prove a thing about it, and now they switch to ‘racist conman’, with the weakest of accusations. I swear, they might as well all be working for the Donald.

Michael Cohen Testimony: Trump A ‘Racist’, ‘Cheat’ And ‘Conman’ (G.)

Michael Cohen is to accuse Donald Trump of being a “conman” and a “cheat” who had advanced knowledge that a longtime adviser was communicating with WikiLeaks during the 2016 campaign, according to opening testimony he will deliver to Congress on Wednesday. Cohen’s prepared remarks, confirmed by the Guardian, include a series of explosive allegations about the presidential campaign. The president’s former lawyer, who will publicly testify before the House oversight committee on Wednesday, will state that Trump was told by Roger Stone that WikiLeaks would publish emails stolen from the Democratic National Committee and Hillary Clinton’s campaign.

“In July 2016, days before the Democratic convention, I was in Mr Trump’s office when his secretary announced that Roger Stone was on the phone. Mr Trump put Mr Stone on the speakerphone,” Cohen’s opening statement reads. “Mr Stone told Mr Trump that he had just gotten off the phone with Julian Assange and that Mr Assange told Mr Stone that, within a couple of days, there would be a massive dump of emails that would damage Hillary Clinton’s campaign. Mr Trump responded by stating to the effect of ‘wouldn’t that be great.’” The remarkable allegations by Cohen go further than what has been made public thus far by the special counsel investigation into potential collusion between the Trump campaign in Moscow.

Cohen will also suggest his instructions to lie to Congress about a possible Trump Tower deal in Moscow during the 2016 campaign came from the president – albeit not directly. “In conversations we had during the campaign, at the same time I was actively negotiating in Russia for him, he would look me in the eye and tell me there’s no business in Russia and then go out and lie to the American people by saying the same thing,” Cohen will say. “In his way, he was telling me to lie.” “Mr Trump did not directly tell me to lie to Congress. That’s not how he operates,” he will add.

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Humor me and please read this. It’s so confusing that you almost forget it’s also complete madness.

3 Days That Will Decide Brexit – March 12-14th Will Seal Britain’s Fate (Exp.)

In a dramatic statement to the House of Commons, Mrs May confirmed that she will put her Withdrawal Agreement – including whatever additional assurances she has secured from Brussels – to a “meaningful vote” by March 12. If that fails, MPs will be offered two separate votes the following day – one on a no-deal Brexit, and the other on requesting an extension to the two-year Article 50 negotiation process to delay EU withdrawal beyond March 29. The sequence of votes will be proposed in an amendable motion tabled by the Prime Minister for debate and vote in the Commons on Wednesday. To uproar in the Commons, Mrs May told MPs: “They are commitments I am making as Prime Minister and I will stick by them, as I have previous commitments to make statements and table amendable motions by specific dates.”

Deputy Political Editor for Sky News Beth Rigby tweeted of Mrs May’s speech: “This really is a big shift. “May has finally played her cards and sided with the Europhile wing of her party .. “Vote for her deal (March 12) Vote for no-deal (March 13) Vote for delay (March 14) .. “Only yesterday she refused to even acknowledge there might have to be a delay to Brexit.”

Mrs May has declared a meaningful vote will take place by March 12, where MPs will vote on her Brexit deal. Should this deal not be voted through, on March 13, MPs will then be offered two separate votes by March 13 on whether the UK leaves with no deal or delays Brexit beyond March 29. The delay will then be voted on March 14, when a motion would be brought forward on whether Parliament wishes to seek a short limited extension to Article 50. If the House votes for an extension, this extension will have to be approved by the House with the EU and then necessary legislation will be brought forward to change the exit date.

[..] In her statement to MPs following a Cabinet meeting with senior colleagues at 10 Downing Street, Theresa May said she wanted to set out “three further commitments” to the Commons. She said: “First, we will hold a second meaningful vote by Tuesday, March 12 at the latest. “Second, if the Government has not won a meaningful vote by Tuesday, March 12, then it will – in addition to its obligations to table a neutral amendable motion under Section 13 of the EU Withdrawal Act – table a motion to be voted on by Wednesday March 13 at the latest, asking this House if it supports leaving the EU without a Withdrawal Agreement and a framework for a future relationship on March 29.

“So the United Kingdom will only leave without a deal on March 29 if there is explicit consent in the House for that outcome. “Third, if the House, having rejected the deal negotiated with the EU, then rejects leaving on March 29 without a Withdrawal Agreement and future framework, the Government will on March 14 bring forward a motion on whether Parliament wants to seek a short, limited extension to Article 50.” The Prime Minister also said she still believes she will be able to secure a deal: “I’ve had a real sense from the meetings I’ve had, and the conversations I’ve had in recent days, that we can achieve that deal. “It’s within our grasp to leave with a deal on March 29 and that’s where all of my energies are going to be focused.”

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Scared yet? Because that’s the idea.

UK Economy Could Be 9% Weaker Under No-Deal Brexit – Government (G.)

The government has issued a bleak warning over a no-deal Brexit, estimating the UK economy could be 9% weaker in the long run, businesses in Northern Ireland might go bust and food prices will increase. In an official document only published after repeated demands by the former Conservative MP Anna Soubry, the government also revealed it was behind on contingency planning for a third of “critical projects” in relation to business and trade. The latest no-deal notice states:

• The economy would be 6%-9% smaller over the next 15 years than it otherwise might have been, in the event of no deal, in line with Bank of England forecasts. • The flow of goods through Dover would be “very significantly reduced for months”. • With 30% of food coming from the EU, prices are likely to increase and there is a risk that panic buying might create shortages. • Only six of the 40 planned international trade agreements have been signed.

The document was published just hours after Theresa May was forced to promise two key votes, allowing MPs the option to reject no deal and to potentially delay Brexit for a short period, following pressure from remain-minded cabinet ministers. The prime minister set out a timetable that includes a vote on her Brexit deal by 12 March; if that fails, a vote the following day to support no deal, and if that also fails, a vote on 14 March on extending article 50. The delay is likely to further agitate the Tory party’s Eurosceptics, with Brexiter ministers including Andrea Leadsom and Liz Truss expressing their frustration over the issue in cabinet on Tuesday morning. Speaking in the House of Commons on Tuesday, May did not specify the length of any delay, saying only that she would prefer it to be the shortest possible. An extension beyond the end of June would involve the UK taking part in the European parliament elections.

[..] The no-deal notice said customs checks alone could cost businesses £13bn a year and that it was impossible to predict the impact of new tariffs. It said this was partly because the government’s communications to businesses and individuals about the need to prepare for no deal had not been effective. [..] The EU, which would treat the UK as a third country in the event of no deal, could impose tariffs of 70% on beef exports, 45% on lamb and 10% on cars, it said. “This would be compounded by the challenges of even modest reductions in flow at the border.”

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Absolutely fabulous.

The UK Doesn’t Have The Right Pallets For Exporting To The EU (BI)

The UK government is due to hold emergency talks with industry leaders on Tuesday after discovering that the country doesn’t have the right pallets to continue exporting goods to the European Union if it leaves without a deal next month. Under strict EU rules, pallets – wooden or plastic structures that companies use to transport large volumes of goods – arriving from non-member states must be heat-treated or cleaned to prevent contamination and have specific markings to confirm that they meet standards. Most pallets that British exporters are using do not conform to the rules for non-EU countries, or “third countries,” as EU member states follow a much more relaxed set of regulations.

The Department for Environment, Food, and Rural Affairs last week told business leaders that the UK would not have enough EU-approved pallets for exporting to the continent if it leaves without a withdrawal agreement next month. That means UK companies would be competing for a small number of pallets that meet EU rules, and those that miss out would be forced to wait for new pallets, which could take weeks to be ready. DEFRA has arranged for a conference call on Tuesday morning to discuss the pallet shortage, with 31 days until Brexit day on March 29. “It is the tiny, procedural, mundane-seeming stuff that will absolutely trip people up,” one industry figure briefed by Theresa May’s government told Business Insider, adding that the country was “not even remotely ready” for a no-deal Brexit.

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Chavez is the guy US intelligence have been chasing for so long, and still trying to get at after his death.

Got to love the man quoting world literature. Also because in the next article, Nomi Prins does the same.

The War on Venezuela is Built on Lies (Pilger)

Travelling with Hugo Chavez, I soon understood the threat of Venezuela. At a farming co-operative in Lara state, people waited patiently and with good humor in the heat. Jugs of water and melon juice were passed around. A guitar was played; a woman, Katarina, stood and sang with a husky contralto. “What did her words say?” I asked. “That we are proud,” was the reply. The applause for her merged with the arrival of Chavez. Under one arm he carried a satchel bursting with books. He wore his big red shirt and greeted people by name, stopping to listen. What struck me was his capacity to listen. But now he read. For almost two hours he read into the microphone from the stack of books beside him: Orwell, Dickens, Tolstoy, Zola, Hemingway, Chomsky, Neruda: a page here, a line or two there. People clapped and whistled as he moved from author to author.

Then farmers took the microphone and told him what they knew, and what they needed; one ancient face, carved it seemed from a nearby banyan, made a long, critical speech on the subject of irrigation; Chavez took notes. Wine is grown here, a dark Syrah type grape. “John, John, come up here,” said El Presidente, having watched me fall asleep in the heat and the depths of Oliver Twist. “He likes red wine,” Chavez told the cheering, whistling audience, and presented me with a bottle of “vino de la gente.” My few words in bad Spanish brought whistles and laughter. Watching Chavez with the people, la gente, made sense of a man who promised, on coming to power, that his every move would be subject to the will of the people. In eight years, Chavez won eight elections and referendums: a world record. He was electorally the most popular head of state in the Western Hemisphere, probably in the world.

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See? Like Pilger and Chavez, Nomi talks about literature. No space here to do this justice, please go read it. Key point: unlike the poor(er), the rich don’t live off the rewards of labor, but of that of wealth.

Survival of the Richest (Nomi Prins)

In George Orwell’s iconic 1945 novel, Animal Farm, the pigs who gain control in a rebellion against a human farmer eventually impose a dictatorship on the other animals on the basis of a single commandment: “All animals are equal, but some animals are more equal than others.” In terms of the American republic, the modern equivalent would be: “All citizens are equal, but the wealthy are so much more equal than anyone else (and plan to remain that way).” Certainly, inequality is the economic great wall between those with power and those without it. As the animals of Orwell’s farm grew ever less equal, so in the present moment in a country that still claims equal opportunity for its citizens, one in which three Americans now have as much wealth as the bottom half of society (160 million people), you could certainly say that we live in an increasingly Orwellian society.

Or perhaps an increasingly Twainian one. After all, Mark Twain and Charles Dudley Warner wrote a classic 1873 novel that put an unforgettable label on their moment and could do the same for ours. The Gilded Age: A Tale of Today depicted the greed and political corruption of post-Civil War America. Its title caught the spirit of what proved to be a long moment when the uber-rich came to dominate Washington and the rest of America. It was a period saturated with robber barons, professional grifters, and incomprehensibly wealthy banking magnates. (Anything sound familiar?) The main difference between that last century’s gilded moment and this one was that those robber barons built tangible things like railroads.

Today’s equivalent crew of the mega-wealthy build remarkably intangible things like tech and electronic platforms, while a grifter of a president opts for the only new infrastructure in sight, a great wall to nowhere. In Twain’s epoch, the U.S. was emerging from the Civil War. Opportunists were rising from the ashes of the nation’s battered soul. Land speculation, government lobbying, and shady deals soon converged to create an unequal society of the first order (at least until now). Soon after their novel came out, a series of recessions ravaged the country, followed by a 1907 financial panic in New York City caused by a speculator-led copper-market scam.

To fully grasp the nature of inequality in our twenty-first-century gilded age, it’s important to understand the difference between wealth and income and what kinds of inequality stem from each. Simply put, income is how much money you make in terms of paid work or any return on investments or assets (or other things you own that have the potential to change in value). Wealth is simply the gross accumulation of those very assets and any return or appreciation on them. The more wealth you have, the easier it is to have a higher annual income.

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Tyler got his hands on a piece by Michael Every at Dutch Rabobank.

Hey Yellen, It Was Trump Who Was Right (Every)

Rabo are already predicting a US recession in 2020, which will drag many down with it, and as the OECD now warns that swollen corporate debt piles, which central banks have so encouraged, is of ever lower quality and potentially more dangerous than it was back in 2008. 54% of investment grade bonds are now BBB-rated, up from 30% in 2008. The OECD argues “In the case of a downturn, highly leveraged companies would face difficulties in servicing their debt, which in turn, through higher default rates, may amplify the effects…Any developments in these areas will come at a time when non-financial companies in the next three years will have to pay back or refinance about USD4 trillion worth of corporate bonds. This is close to the total balance sheet of the US Federal Reserve.”

Guess what guys? China is right ahead of you on that curve – which is why it is trying to find another whale to nuke ASAP: things are looking truly ugly given many firms can’t even pay the interest on their debt, let alone the principle. And guess what else? That OECD and China warning sounds like an admission of the Minsky debt dynamic that you might have thought all central banks would have to have learned the lessons of post-GFC. Apparently not, however – because they think they already know everything. As former Fed Chair Yellen mocked yesterday, Trump doesn’t understand what the Fed’s dual mandates of price stability and stable employment are. That might well be true.

But was it the Fed or Trump who publicly called out how dangerous continuous Fed rate hikes are in a debt-laden, Minsky-teetering financial system where the yield curve is still inverted 9bps on 1s-5s even after a pause? I think Yellen will find it was Trump who was right and the Fed who was forced into a humiliating and frankly incongruous policy U-turn. So much expertise! Trump also made a similar intervention over oil prices overnight, and once again they dipped, though are opening up strongly this morning in Asia. [..] easy policy in the UK; ultra-easy policy in China; promises of more easing in Japan; an ECB U-turn to come(?); and the Fed on hold and stopping QT soon at least. And that’s with bullish markets and reasonable global growth – just wait until things head south: if all you have is a nuke, everything looks like a whale.

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Every bubble that bursts ends up below its starting level. Nicole had these graphs, Tulip, South Sea etc., that showed just that. This graph doesn’t quite do that.

Now that Housing Bubble #2 Is Bursting…How Low Will It Go? (CHS)

There are two generalities that can be applied to all asset bubbles: 1. Bubbles inflate for longer and reach higher levels than most pre-bubble analysts expected 2. All bubbles burst, despite mantra-like claims that “this time it’s different” The bubble burst tends to follow a symmetrical reversal of very similar time durations and magnitudes as the initial rise. If the bubble took four years to inflate and rose by X, the retrace tends to take about the same length of time and tends to retrace much or all of X. If we look at the chart of the Case-Shiller Housing Index below, this symmetry is visible in Housing Bubble #1 which skyrocketed from 2003-2007 and burst from 2008-2012.

Housing Bubble #1 wasn’t allowed to fully retrace the bubble, as the Federal Reserve lowered interest rates to near-zero in 2009 and bought $1+ trillion in sketchy mortgage-backed securities (MBS), essentially turning America’s mortgage market into a branch of the central bank and federal agency guarantors of mortgages (Fannie and Freddie, VA, FHA). These unprecedented measures stopped the bubble decline by instantly making millions of people who previously could not qualify for a privately originated mortgage qualified buyers. This vast expansion of the pool of buyers (expanded by a flood of buyers from China and other hot-money locales) drove sales and prices higher for six years (2012-2018).

As noted on the chart below, this suggests the bubble burst will likely run from 2019-2025, give or take a few quarters. The question is: what’s the likely magnitude of the decline? Scenario 1 (blue line) is a symmetrical repeat of Housing Bubble #2: a retrace of the majority of the bubble’s rise but not 100%, which reverses off this somewhat higher base to start Housing Bubble #3. Since the mainstream consensus denies the possibility that Housing Bubble #2 even exists (perish the thought that real estate prices could ever–gasp–drop), they most certainly deny the possibility that prices could retrace much of the gains since 2012.

More realistic analysts would probably agree that if the current slowdown (never say recession, it might cost you your job) gathers momentum, some decline in housing prices is possible. They would likely agree with Scenario 1 that any such decline would be modest and would simply set the stage for an even grander housing bubble #3. But there is a good case for Scenario 2, in which price plummets below the 2012 lows and keeps on going, ultimately retracing the entire housing bubble gains from 2003.

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Interesting how Europe smears Putin wherever it can, except where it counts.

Russia’s Share Of European Gas Market Surges To Almost 37%, Dwarfing LNG (RT)

Russia’s state-run energy major Gazprom said its share of sales of natural gas in the European Union has increased to 36.7 percent last year, rising over two percent against 34.2 percent in 2017. “In 2018, according to preliminary data, the share of gas supplies to the EU countries and Turkey has reached an all-time high and totaled 36.7 percent,” the director general of Gazprom Export Elena Burmistrova said at Gazprom’s Investor Day event, taking place in Singapore. Burmistrova added that Gazprom’s gas exports to Europe last year amounted to record 201.8 billion cubic meters, and is expected to significantly grow by 2035 due to the increasing demand.

According to a member of Gazprom’s management committee, Oleg Aksyutin, the company saw no threat to Gazprom’s business in the European market from global producers of liquefied natural gas (LNG), including the US. The company’s gas exports to Europe are reportedly three times more than the amount of LNG shipped to Europe by all global producers combined. Though the share of LNG shipments have been growing, it still makes up only 13 percent of the entire gas market, according to Burmistrova. The executive added that prices for natural gas saw a significant surge. “In 2018, in accordance with linked fuel prices, the average price of Gazprom gas increased by 24.6 percent to $245.5 for 1,000 cubic meters,” she said, stressing that in 2016 it stood at $167.

When it comes to China, one of the world’s biggest energy consumers, Gazprom is planning to become the country’s biggest supplier as soon as 2035, with the company’s share expected to reach 13 percent of Chinese overall consumption by the same year.

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It’s completely insane that any western country would have to do a Hunger Survey. Don’t fall for thinking it’s normal.

UK Hunger Survey To Measure Food Insecurity (G.)

The government is to introduce an official measure of how often low-income families across the UK skip meals or go hungry because they cannot afford to buy enough food, the Guardian can reveal. A national index of food insecurity is to be incorporated into an established UK-wide annual survey run by the Department for Work and Pensions (DWP) that monitors household incomes and living standards. Campaigners, who have been calling for the measure for three years, said the move was “a massive step forward” that would provide authoritative evidence of the extent and causes of hunger in the UK. They say food insecurity is strongly linked to poverty caused by austerity and welfare cuts and is driving widening health inequality.

Food insecurity is generally defined as experiencing hunger, the inability to secure food of sufficient quality and quantity to enable good health and participation in society, and cutting down on food because of a lack of money. The decision, which took campaigners by surprise, was revealed at an informal meeting on Tuesday attended by the DWP, the Office for National Statistics, Public Health England and the Scottish and Welsh governments, as well as a number of food poverty charities. Ministers have for years resisted calls to bring England into line with the US and Canada by measuring food insecurity. Critics said this was to avoid shedding unwanted light on the impact of welfare policy and the public health consequences of being unable to eat regularly or healthily.

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Why the hunger? Here’s why: we feed ourselves with plastics and poison.

Glyphosate Found In 95% Of Wine And Beer (Ind.)

A new study has shown that traces of a commonly-used and possibly cancerous weed killer can be found in the majority of wine and beer. Researches tested five wines and 15 beers from the US, Asia and Europe for traces of pesticide glyphosate. The research found that of the 20 samples, 19 (95 per cent) contained particles of the chemical, including products labelled as organic. The US Public Interest Research Group, which conducted the study, said the levels of the pesticide aren’t necessarily dangerous, but are still concerning. In 2015, the World Health Organisation’s International Agency categorised glyphosate as “probably carcinogenic to humans”, leading the state of California to add it to its list of chemicals that can cause cancer, which makes companies responsible for providing warnings to potential consumers.

The findings of the study coincide with the beginning of a class action lawsuit against Bayer, which acquired Monsanto last year. The suit claims that Roundup caused thousands of plaintiffs to develop non-Hodgkins lymphoma, a type of blood cancer. The first plaintiff, Ed Hardeman, testified this week, alleging that his use of the chemical on his 56 acres of land caused him to develop cancer aged 66. [..] Bayer has not commented on the results of the study, but the researchers are calling for glyphosate to be banned unless it can be proven safe.

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The earth’s weather system is far too complex to draw conclusions from a sunny day. The only things we can say about the climate must be based on long-term stats. This kind of article doesn’t help one bit, it merely points out the author literally doesn’t know what he’s talking about.

Am I The Only One Who’s Terrified About The Warm Weather? (G.)

They were everywhere in London on the weekend. The people in short sleeves or sandals. The ones with sunglasses ostentatiously hanging from the front of their shirts or balanced on top of their heads. The beer gardens and riverside pubs of the capital were heaving; corner shops ran out of ice-cream. Outside it was 17C (62F). Monday was another warm day, without a cloud in the sky, and in the late afternoon the light took on a magical, honey-coloured hue. It brought to mind one of those summer evenings you remember from childhood, when you’d be in the park all day and your parents let you stay out until bedtime, and you felt like you were doing something deliciously naughty just by being there.

Except it isn’t early summer: it’s February. And the entire developed world has not so much been doing something slightly naughty as systematically attacking the global ecosystem over a period of decades, and that’s how we go into this mess. We should try to hold on to this fact as young, posh men the nation over develop a strange delusion that anyone would want to see their elbows; this is not supposed to be happening. Less than a month ago, there was video footage of extreme cold weather coming out of Chicago. Forks supported in midair by suddenly frozen noodles, water poured from kettles instantly freezing on its way to the ground: you know the sort of thing.

OK, that was on the other side of the world, and was extreme and terrifying enough. But at least it was terrifying in the right direction. On Monday, though, the temperature hit 20.3C in Ceredigion, west Wales: the highest February temperature ever recorded in Britain and the first time the thermometer had breached 20C in winter. The BBC weather account tweeted it out with a gif of the sunshine icon and the same excitable breathlessness with which Springwatch would announce it had found a new type of vole. My response contained a single word, repeated seven times. It began with F.

Read more …

Feb 142019
 
 February 14, 2019  Posted by at 10:42 am Finance Tagged with: , , , , , , , , , , ,  


Pablo Picasso Guitar 1925

 

Australia’s $7 Trillion Question: How Low Will House Prices Go (SMH)
US Mortgage Applications Drop Despite Lower Rates: Industry is Baffled (WS)
Surge In Delinquencies Threatens US Auto Loan Bubble (Colombo)
$1 Trillion Amazon Pays $0 In Income Taxes, Gets $129 Million Rebate (RT)
EU Officials: UK Only ‘Pretending To Negotiate’ Over Brexit (G.)
UK Has Rolled Over Just £16bn Out Of £117bn Trade Deals (G.)
Labour MPs Warn Corbyn: Back A Second Referendum Or We Quit (G.)
Hardline Brexiters Threaten To Vote Down Theresa May’s Motion (G.)
Maduro Claims Foes ‘Totally Failed’ To Topple Him As Efforts Falter (G.)
Venezuela Envoy Elliott Abrams Loses His Cool In Congress (ZH)
Germany Pulls Rank on Macron and Washington over Nordstream 2 (SCF)
Bikes Put Spanner In Works Of Dutch Driverless Car Schemes (G.)
Exposure To Glyphosate Increases Risk Of Cancer By 41% – Study (G.)

 

 

As I said yesterday, after 27 years without a recession, the no. 1 instrument to battle complacency, excesses and zombies, Australia is a fire hazard. At the same time, of course, after 27 years so many people have never seen a recession that nobody expects one anymore.

Australia’s $7 Trillion Question: How Low Will House Prices Go (SMH)

Industry experts say property prices in Sydney and Melbourne, which have led a slump in Australia’s $7 trillion residential property market, are likely headed lower before they hit rock bottom. The Australian Bureau of Statistics released figures this week showing new lending to owner occupiers fell 6.4% during December last year, outpacing the fall in lending to property investors, which dropped by 4.6%. The total value of new lending to households has now dropped 19.8% in the past year — the biggest annual fall in home loans since the height of the global financial crisis. “The lending numbers are atrocious; it tells us that property markets in Sydney and Melbourne are in a tailspin,” says Louis Christopher, managing director of property researcher SQM Research.

The issue is mostly access to credit and, for at least for past six months, banks have been scrutinising the spending of borrowers more closely when assessing their loans, Christopher says. Doron Peleg, chief executive of RiskWise Property Research, says the weak lending figures also show how those who would normally be entering the property market are now shying away in anticipation of lower prices. The Westpac-Melbourne Institute Index out this week showed consumers in Sydney and Melbourne have poor property price expectations. “Buyer sentiment has been hit as residential property, particularly in Sydney and Melbourne, is seen as a depreciating asset,” Peleg says.

[..] Many property experts are expecting a peak-to-trough drop in property prices of between 15% and 20%. “Without an interest-rate cut or regulatory changes there will be tough times ahead for the property market,” RiskWise’s Peleg says. [..] Tim Lawless, the head of research at property researcher CoreLogic, is expecting a peak-to-trough fall of up to 20% for both Sydney and Melbourne before prices start to level out in 2020. However, Lawless says the price declines should be kept in perspective. Sydney house and apartment prices have risen by more than 70% in the past decade, while Melbourne prices have gained even more, he says. This is despite recent price falls of more than 12% from their peak in Sydney in mid-2017 and 8% in Melbourne from a top in late 2017, he says.

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The Omen.

US Mortgage Applications Drop Despite Lower Rates: Industry is Baffled (WS)

A month ago, mortgages reappeared in the housing-hype circus, when it was widely reported that mortgage applications “soared” and “jumped.” Both types of mortgage applications did so: those used to purchase a home (purchase mortgages) and those used to refinance an existing mortgage (refinance mortgages). The jump in mortgage applications was ascribed to “plunging” mortgage interest rates. It was seen as a big sign that the weakening housing market was about to turn around. But that hope has gotten unwound.

Today, the Mortgage Bankers Association (MBA) reported that its purchase mortgage index – which tracks applications (not approvals) for conventional and government mortgages to purchase a single-family house – fell 6% from the prior week and was down 5% from the same week last year – despite falling mortgage rates, which should have cranked up home buying and mortgage activity. It was the fourth week in a row of drops:

The Purchase Mortgage Index is considered a reliable indicator of impending home sales, and so this decline, given the lower mortgage rates, mystifies the industry.“Application activity fell last week – even with rates decreasing – as renewed uncertainty about the domestic and global economy likely held potential homebuyers off the market,” said MBA Associate VP of Industry Surveys and Forecasts, Joel Kan, in the report. “The 30-year fixed-rate mortgage dropped to its lowest level since last March, and was 52 basis points lower than its recent high last November,” he said.

You can practically hear between the lines, so to speak, the bafflement in his voice about this decline in purchase mortgage applications in light of the decline in mortgage rates. The MBA also reported today that the average interest rate for 30-year fixed-rate mortgages with conforming loan balances inched down to 4.65%, back where it had been last April (chart via Investing.com):

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AKA the Thelma and Louise economy.

Surge In Delinquencies Threatens US Auto Loan Bubble (Colombo)

My concerns about the U.S. automobile bubble are being confirmed. As Bloomberg reports: “More Americans than ever are at least three months behind on their auto loans, a sign that the U.S. economy may have little growth left in the tank. The number of loans at least 90 days late exceeded 7 million at the end of last year, the highest total in the two decades the Federal Reserve Bank of New York has kept track. Expressed as a percentage of total debt, the delinquency rate is the highest since 2012, as overall borrowing has also increased.

The data show not all Americans are benefiting from the strong labor market, New York Fed economists say. Consumers with the weakest credit have driven deteriorating performance of auto debt: The share of subprime borrowers who fell well behind on car payments the last three months of the year was the highest since the second quarter of 2010.

As I’ve been warning for the past couple years, the U.S. automobile sales boom is a byproduct of a bubble in auto loans:

The auto sales and auto loan bubble is a byproduct of ultra-cheap credit conditions in the past decade since the Great Recession. Interest rates are now rising, which threatens the auto bubble: It’s only a matter of time before the U.S. auto sales and loan bubble experiences a serious bust. Rising delinquencies are just the start, I’m afraid. Booms fueled by cheap credit always end the same way – in a terrible bust. Ignore the voices that say “this time will be different!”

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And the people who lost their retail jobs don’t pay income taxes either anymore.

$1 Trillion Amazon Pays $0 In Income Taxes, Gets $129 Million Rebate (RT)

Trillion-dollar-company Amazon skated through 2018’s tax filings without paying a cent for the second year in a row. The e-commerce behemoth, which made $11 billion last year, will pay no taxes at all, thanks to 2017’s tax reform. Rather than pay the standard 21% corporate income tax rate, Amazon is actually claiming a tax rebate of $129 million, which works out to a logic-defying rate of -1%. Aside from the nebulous “tax credits,” which the company does not have to spell out in its public filings, Amazon is also claiming a tax break for executive stock options, according to the Institute for Taxation and Economic Policy – a longstanding loophole that permits profitable corporations to dodge federal and state income taxes on almost half their profits.

While President Donald Trump’s 2017 tax reform legislation lowered corporate tax rates from 35% to 21%, it was sold as an incentive for companies to keep their money in the US, instead of stashing it overseas where the IRS couldn’t touch it. Now that Amazon and Netflix have both made headlines for using the new regulations to avoid paying anything at all, it remains to be seen whether the legislation’s failure to close corporate loopholes will leave the US holding the bag for fiscal year 2018 as the country’s national debt inches past $22 trillion – a record high.

Amazon’s tax windfall doesn’t even take into account the billions in tax breaks the state governments of Virginia and New York offered the company to open a second (and third) headquarters in their states, though there are rumors that New York is getting cold feet about the unprecedented corporate giveaway. Amazon didn’t pay any taxes in 2017 either, though it raked in a comparatively paltry $5.6 billion in profits and extracted a slightly larger $137 million refund.

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“Verhofstadt asked Lidington four times what the British proposal was and “four times didn’t get an answer”, according to the EU official, who described the encounter as “very surreal”.”

EU Officials: UK Only ‘Pretending To Negotiate’ Over Brexit (G.)

The British government is “pretending to negotiate” with the European Union and has not presented any new proposals to break the Brexit deadlock, according to EU officials. Theresa May’s de-facto deputy, David Lidington, and the Brexit secretary, Stephen Barclay, met senior EU officials and MEPs in Brussels and Strasbourg this week, but the talks yielded no obvious results. The British side thinks a crucial process has begun and hopes progress will have been made by 27 February when MPs are expected to have another crunch Brexit vote. However, on Wednesday night European council president Donald Tusk said the EU27 was still waiting for proposals. “No news is not always good news,” he tweeted, after meeting with the EU’s chief negotiator Michel Barnier.

“EU27 still waiting for concrete, realistic proposals from London on how to break Brexit impasse,” Tusk said. Barnier, has said current talks with the UK do not even qualify as negotiations. In a call on Tuesday morning with Guy Verhofstadt, chief Brexit representative for the European parliament, Barnier said there were “no negotiations” with the British. “These are courtesy calls at best and we have nothing new to say,” Barnier was reported to have said, by a source familiar with the conversation. Verhofstadt had asked the EU negotiator for an update, following Barnier’s meeting with Barclay over dinner at the British ambassador’s residence in Brussels, where they dined on North Sea sole, roast duck and British cheese, washed down with sancerre and saint-émilion wines.

“They are pretending to negotiate while they still don’t know what they want and how they want it,” the source said, who described this week’s meetings as “kicking up dust” and a series of “photo opportunities and pictures”. “We are willing to negotiate, but there is nothing on the table from the British side.” Verhofstadt asked Lidington four times what the British proposal was and “four times didn’t get an answer”, according to the EU official, who described the encounter as “very surreal”.

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Don’t be so negative: they got a hard-fought deal with the Seychelles!

UK Has Rolled Over Just £16bn Out Of £117bn Trade Deals (G.)

The government’s push to roll over EU trade deals from which the UK currently benefits has yielded agreements covering only £16bn of the near-£117bn of British trade with the countries involved. Despite frenetic efforts by ministers to ensure the continuity of international trade after the UK leaves the EU on 29 March, the international trade secretary, Liam Fox, has so far only managed to secure deals with seven of the 69 countries that the UK currently trades with under preferential EU free trade agreements, which will end after Brexit.

Fox’s department has yet to sign agreements with several major UK trading partners – including Canada, Japan, South Korea and Turkey – while sources have said that sufficient progress is unlikely to be made before the Brexit deadline in less than 50 days’ time. Canada, Japan, South Korea and Turkey alone accounted for goods exports worth £25bn in 2017 and imports of merchandise worth £28.6bn, with the UK currently able to access these markets on preferential terms as part of membership of the EU. Fox sought to downplay the significance of the deals in parliament on Wednesday, saying all of the countries involved only accounted for about 11% of total UK trade in 2018, with the smallest 20 nations worth less than 0.8%.

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I’ve been wondering why any politician in Britain is still in their jobs.

Labour MPs Warn Corbyn: Back A Second Referendum Or We Quit (G.)

Jeremy Corbyn faces up to 10 resignations from the Labour frontbench if he fails to throw his party’s weight behind a fresh attempt to force Theresa May to submit her Brexit deal to a referendum in a fortnight’s time, frustrated MPs are warning. With tension mounting among anti-Brexit Labour MPs and grassroots members, several junior shadow ministers have told the Guardian they are prepared to resign their posts if Corbyn doesn’t whip his MPs to vote for a pro-referendum amendment at the end of the month. Corbyn has been struggling to balance the conflicting forces in his party over Brexit, as the clock ticks down towards exit day on 29 March..

Many party members and MPs would like him to take a lead in seeking to block Brexit before time runs out – but some frontbenchers are equally adamant they could never support a referendum. Len McCluskey, the general secretary of the Unite union and a close ally of Corbyn, risked stoking the conflict in the party on Wednesday when he argued that stopping Brexit was “not the best option for our nation”. “My view is that, having had a 2016 referendum where the people have voted to come out of the EU, to try and deflect away from that threatens the whole democratic fabric on which we operate,” he told Peston on ITV. “I’m saying that in reality it is not the best option for our nation.”

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43 days. Both extremities, hard brexit and 2nd referendum, think they have a chance of winning it all.

Hardline Brexiters Threaten To Vote Down Theresa May’s Motion (G.)

Hardline Brexit supporters are threatening to inflict yet another Commons defeat on Theresa May because they fear the government is effectively ruling out leaving the EU with no deal. Members of the Tory European Research Group are unhappy with the wording of a No 10 motion because it endorses parliament’s vote against any Brexit without a withdrawal agreement. The motion for debate on Thursday simply affirms “the approach to leaving the EU” backed by the Commons on 29 January, when an amendment was passed in favour of an attempt to replace the Northern Ireland backstop with “alternative arrangements”.

The motion was thought to be fairly uncontroversial until pro-Brexit supporters realised it also encompassed a second amendment passed on that day, which ruled out a no-deal Brexit. The amendment, tabled by Dame Caroline Spelman, “rejects the United Kingdom leaving the European Union without a withdrawal agreement and a framework for the future relationship”. The ERG group, led by arch-Brexiter Jacob Rees-Mogg, is planning either to vote against or abstain on Thursday’s government motion, potentially causing another embarrassing parliamentary loss for the prime minister. However, talks with government whips will continue on Thursday in an attempt to find a compromise.

An ERG MP said many of its members were “not minded to support such a clumsily worded motion” that effectively ruled out a no-deal Brexit. Another said the group would not trust verbal assurances from No 10 that no deal was still on the table as such promises from the dispatch box had not been honoured many times in the past.

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How far away is a false flag?

Maduro Claims Foes ‘Totally Failed’ To Topple Him As Efforts Falter (G.)

Venezuela’s embattled leader, Nicolás Maduro, has claimed he has seen off a dramatic opposition challenge to his rule, as those efforts appeared to falter and the United States conceded it was “impossible to predict” how long he might remain in power. In an interview with Euronews, Maduro boasted that his political foes had “failed totally” in their quest to topple him. Opponents “could march every single day of their lives” and achieve nothing, Maduro said. Venezuela’s newly emboldened opposition continues to insist Maduro’s days are numbered, with about 50 governments now recognizing its leader, Juan Guaidó, as the country’s legitimate president.

Tens of thousands of supporters poured back on to the streets of Caracas and other major cities on Tuesday to demand the resignation of a politician they accuse of leading their oil-rich country into economic ruin. But three weeks after Guaidó electrified the previously rudderless opposition movement by declaring himself interim leader, there are signs his campaign risks losing steam. An anticipated mass defection of military chiefs – which opposition leaders admit is a prerequisite to Maduro’s departure – has not materialized, and Maduro’s inner-circle has begun claiming it has weathered the political storm. “In the end, nothing will come of [this challenge]. We will prevail,” Maduro’s second-in-command, Diosdado Cabello, tweeted on Wednesday.

[..] Opposition leaders have spent recent days trying to dampen expectations that Maduro’s exit is imminent. Juan Andrés Mejía, an opposition leader and Guaidó ally, admitted that goal “could take some time”. “We want it to end very soon because we know that every day that passes by people are suffering. But Maduro still has control of the military and basically that is the reason we haven’t been able to move things forward,” he told the Guardian.

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Shaking up US politics since 2016. And c’mon, Abrams is a war criminal, he should be facing a court, not Congress.

Venezuela Envoy Elliott Abrams Loses His Cool In Congress (ZH)

Rep. Ilhan Omar clashed with newly minted Venezuela Envoy Elliott Abrams during a Wednesday hearing in front of the House Foreign Relations Committee discussing the role of the US military in Central America. “Mr. Abrams, in 1991 you pleaded guilty to two counts of withholding information from Congress regarding your involvement in the Iran-Contra affair, for which you were later pardoned by president George H.W. Bush,” began Omar. “I fail to understand why members of this committee or the American people should find any testimony that you give today to be truthful.” “If I could respond to that…” interjected Abrams. “It was not a question,” shot back Omar.

After a brief exchange in which Abrams protested “It was not right!” Omar cut Abrams off, saying “Thank you for your participation.” Omar: “On February 8, 1982, you testified before the Senate foreign relations committee about US policy in El Salvador. In that hearing you dismissed as communist propaganda, a report about the massacre of El Mozote in which more than 800 civilians – including children as young as two-years old – were brutally murdered by US-trained troops. During that massacre, some of those troops bragged about raping 12-year-old girls before they killed them. You later said that the US policy in El Salvador was a “fabulous achievement.” “Yes or no – do you still think so?” asked Omar.

Abrams replied: “From, the day that Duarte was elected in a free election, to this day, El Salvador has been a democracy. That’s a fabulous achievement.” Omar shot back: “Yes or no, do you think that massacre was a fabulous achievement that happened under our watch?” Abrams protested: “That is a ridiculous question- to which Omar shot back, “Yes or no,” cutting him off. “Yes or no, would you support an armed faction within Venezuela that engages in war crimes, crimes against humanity or genocide, if you believe they were serving US interests as you did in Guatemala, El Salvador and Nicaragua?” “I am not going to respond to that question, I’m sorry. I don’t think this entire line of questioning is meant to be real questions, and so I will not reply.” said Abrams.

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US accuses Russia of energy blackmail, tries to blackmail Germany. Germans will never accept not being independent when it comes to energy. Moreover, their economy is teetering.

Germany Pulls Rank on Macron and Washington over Nordstream 2 (SCF)

It was billed politely as a Franco-German “compromise” when the EU balked at adopting a Gas Directive which would have undermined the Nord Stream 2 project with Russia. Nevertheless, diplomatic rhetoric aside, Berlin’s blocking last week of a bid by French President Emmanuel Macron to impose tougher regulations on the Nord Stream 2 gas project was without doubt a firm rebuff to Paris. Macron wanted to give the EU administration in Brussels greater control over the new pipeline running from Russia to Germany. But in the end the so-called “compromise” was a rejection of Macron’s proposal, reaffirming Germany in the lead role of implementing the Nord Stream 2 route, along with Russia. The $11-billion, 1,200 kilometer pipeline is due to become operational at the end of this year.

Stretching from Russian mainland under the Baltic Sea, it will double the natural gas supply from Russia to Germany. The Berlin government and German industry view the project as a vital boost to the country’s ever-robust economy. Gas supplies will also be distributed from Germany to other European states. Consumers stand to gain from lower prices for heating homes and businesses. Thus Macron’s belated bizarre meddling was rebuffed by Berlin. A rebuff was given too to the stepped-up pressure from Washington for the Nord Stream 2 project to be cancelled. Last week, US ambassador to Germany Richard Grenell and two other American envoys wrote an op-ed for Deutsche Welle in which they accused Russia of trying to use “energy blackmail” over Europe’s geopolitics.

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Why on earth is that government pushing driverless cars?

Bikes Put Spanner In Works Of Dutch Driverless Car Schemes (G.)

The Dutch government is working with Germany and Belgium on establishing “truck platooning” – where one human-driven vehicle leads a convoy of autonomous ones — on major roads. Under the plans, about 100 driverless trucks would drive the “Tulip corridors” at night – from Amsterdam to Antwerp, and from Rotterdam to the Ruhr valley – fully maximising the routes through which the Netherlands distributes its goods using 5G technology and 1,200 smart traffic lights. The Dutch infrastructure minister, Cora van Nieuwenhuizen, has announced a “driving licence” for self-driving cars, through which it would certify new autonomous models, and a framework of legislation – known as the Experimenteerwet zelfrijdende auto’s – is being prepared.

But a report by the professional service company KPMG highlights a major problem for Dutch ministers in introducing the technology to urban centres, where the bicycle is increasingly king. Driverless cars detect other road users using a variety of cameras or laser-sensing systems to ensure that they stop if an object is detected in their path. But the varying sizes and agility of cyclists, with their sudden changes in speed and loose adherence to the rules of the road, present a major challenge to the existing technology. That challenge is particularly stark in the Netherlands, where 17 million people own 22.5m bicycles. More than a quarter of all trips made by Dutch residents are by bike. Of all trips of a distance of up to five miles, a third are made by bicycle, with the rate only dropping to 15% for trips up to 10 miles in length.

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Is it that hard to understand that pesticides and herbicides are the worst idea ever? Poison kills, cut it out.

Exposure To Glyphosate Increases Risk Of Cancer By 41% – Study (G.)

A broad new scientific analysis of the cancer-causing potential of glyphosate herbicides, the most widely used weed killing products in the world, has found that people with high exposures to the popular pesticides have a 41% increased risk of developing a type of cancer called non-Hodgkin lymphoma. The evidence “supports a compelling link” between exposures to glyphosate-based herbicides and increased risk for non-Hodgkin lymphoma (NHL), the authors concluded, though they said the specific numerical risk estimates should be interpreted with caution. The findings by five US scientists contradict the US Environmental Protection Agency’s (EPA) assurances of safety over the weed killer and come as regulators in several countries consider limiting the use of glyphosate-based products in farming.

Monsanto and its German owner Bayer face more than 9,000 lawsuits in the US brought by people suffering from NHL who blame Monsanto’s glyphosate-based herbicides for their diseases. The first plaintiff to go to trial won a unanimous jury verdict against Monsanto in August, a verdict the company is appealing. The next trial, involving a separate plaintiff, is set to begin on 25 February , and several more trials are set for this year and into 2020. Monsanto maintains there is no legitimate scientific research showing a definitive association between glyphosate and NHL or any type of cancer. Company officials say the EPA’s finding that glyphosate is “not likely” to cause cancer is backed by hundreds of studies finding no such connection.

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Sep 252018
 
 September 25, 2018  Posted by at 9:18 am Finance Tagged with: , , , , , , , , , , ,  


René Magritte Memory of a journey 1955

 

Axios Issues Critical “Clarification” To Rosenstein Resignation Report (ZH)
Kavanaugh: “I’m Not Going Anywhere”… And I Was A Virgin In High School (ZH)
Going Full Porn (Kunstler)
China Says US Putting ‘Knife To Its Neck’, Hard To Proceed On Trade (R.)
US Judge Suggests He May Dismiss Stormy Daniels Lawsuit Against Trump (R.)
UK-EU Flights To Be Grounded In Case Of No-Deal Brexit (Ind.)
Labour Confirms Remain Can Be Party’s Choice In New Brexit Referendum (Ind.)
US Judge Orders Federal Protection Restored To Yellowstone Grizzlies (R.)
Aquarius Cannot Disembark Migrants In Marseille – French Minister (G.)
Monsanto’s Glyphosate Weedkiller Harms Honeybees, Research Finds (G.)
Glyphosate Industry Fails to Stop US Funding for Global Cancer Agency (SP)

 

 

Axios reported yesterday that Rod Rosenstein was on his way to the White House to resign. Zero Hedge ran with the story. It turned out to be false. Now Zero Hedge has no less than 5 updates to the story. It keeps changing. But are you now going to go to Axios for your news?

Axios Issues Critical “Clarification” To Rosenstein Resignation Report (ZH)

Update 5: Jonathan Swan, the Axios reporter who initially broke the news this morning that Rod Rosenstein had “verbally resigned” and subsequently triggered a drop in the Dow that erased billions of dollars in value, has issued an important “clarification” that – as fate would have it – changes the story from a major news-cycle-dominating revelation to a barely noteworthy tidbit. After sparring with Vanity Fair reporter Gabriel Sherman, who suggested that Swan “got played” by a White House insider looking to distract from the second Kavanaugh revelation, Swan has admitted that the phrasing of his initial report was a little off.

Instead of reporting that Rosenstein had “verbally resigned”, Swan said he meant to say that Rosenstein had verbally offered his resignation to Chief of Staff John Kelly. “Note for readers: I regret the way I wrote this morning’s version of the story. By saying Rosenstein had “verbally resigned” to Kelly rather than “offered his resignation,” I conveyed a certainty that this fluid situation didn’t deserve. It’s an important nuance, and I regret the wording.”

We’re sure all of those algos that sold on the headline also “regret” their error, too.

Update 4: Speaking to reporters at the United Nations, President Trump finally commented on the political event du jour, saying he’s looking forward to meeting with Deputy Attorney General Rod Rosenstein on Thursday to discuss his future and “determining what’s going on”, after Axios reported earlier that Rosenstein told Trump’s Chief of Staff John Kelly that he was resigning. “We’ll be determining what’s going on,” Trump told reporters at the United Nations on Monday. “We want to have transparency, we want to have openness and I’m looking forward to meeting with Rod at that time.” Trump didn’t answer a question about what may happen to Rosenstein. “I spoke with Rod today and we’re going to have a meeting on Thursday when I get back to the White House,” he said.

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Another gone out of hand tale. Kavanaugh’s claim is bold. If he did have sex while in school, that should be easy to prove.

Kavanaugh: “I’m Not Going Anywhere”… And I Was A Virgin In High School (ZH)

Breaking his public silence for first time since the hearings last month, Supreme Court nominee Judge Brett Kavanaugh, appeared alongside his wife, on Fox News Channel’s “The Story with Martha MacCallum” tonight to address the sexual misconduct allegations that have put his confirmation at risk of unraveling. As we detailed earlier, Brett Kavanaugh defied his accusers on Monday when he said, in a letter to Senate Judiciary Committee Sens. Chuck Grassley (R-Iowa) and Dianne Feinstein (D-Calif.), that he will “not be intimidated into withdrawing” his Supreme Court nomination and staunchly denied the accusations, calling them a “grotesque and obvious character assassination” and “a coordinated effort” to drive him out on the nomination.

Ahead of tonight’s interview, President Trump tweeted about the interview and reiterated that “this is an outstanding family who must be treated fairly!” And in tonight’s first interview since the allegation, Kavanaugh began assertively, saying: “I’m not going anywhere… “I want a fair process where I can defend my integrity, and I know I’m telling the truth,” the judge said. “I know my lifelong record and I’m not going to let false accusations drive me out of this process… I have faith in God and I have faith in the fairness of the American people.” In the interview, Kavanaugh emphatically denied Ford’s claim against him, telling McCallum that he was a virgin through high school and for “many years after.” “I did not have sexual intercourse in high school or for many years thereafter. The girls from the schools I went to and I were friends.”

[..] Kavanaugh added that he was “not questioning and have not questioned that perhaps Dr. Ford at some point in her life was sexually assaulted by someone at some place but what I know is I’ve never sexually assaulted anyone.” Additionally, Judge Kavanaugh’s wife, Ashley Estes Kavanaugh, spoke publicly for the first time about the allegations that her husband is facing, and how their two daughters are dealing with the accusations against their father. “It’s very difficult to have these conversations with your children, which we’ve had to have.” “They know Brett and they know the truth and we told them at the very beginning of this process that this will be not fun sometimes, just remember, you know your dad.”

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“I would take the Ramirez accusation as tantamount to a declaration of war by the Resistance. And as the old saying goes, all’s fair in love and war.”

Going Full Porn (Kunstler)

The part that I find interesting in the New Deborah Ramirez accusation is this: “After six days of carefully assessing her memories and consulting with her attorney, Ramirez said that she felt confident enough of her recollections to say that she remembers Kavanaugh had exposed himself at a drunken dormitory party, thrust his penis in her face, and caused her to touch it without her consent as she pushed him away.” Six days of meditation, prayer, memory-wracking, attorney-prompting, and — no doubt — earnest and heartfelt coaching by Resistance memory-recovery shamans, overcame the effects of 35 years and, say, seven Jello-shots to retrieve the details of that long-ago encounter.

(No one mentioned bong-hits, at least not yet, but how could there not have been, on top of the drinking games?) But the real gold in the story comes in this revelation: “Ramirez, who was raised a devout Catholic, in Connecticut, said that she was shaken. “I wasn’t going to touch a penis until I was married.” Really? Maybe she should have gone to the weekly meeting of the Yale Freshman Women’s Math and Physics Circle instead of an apparently mostly male dorm party convened for the purpose of getting shitfaced drunk with the greatest possible efficiency. Did she not know what was going on there? Was she forced to stick around? Did the boys make her down those shots?

Now that all American womanhood has been faced, shall we say, with the image of the looming universal horrifying penis, all bets on the Kavanaugh nomination are off. But the gambit does raise the possibility that it will be answered by some rough justice from the conservative side of the field. It will be interesting to see in the weeks and months ahead how many Democratic house and senate members will be revealed as would-be rapists and sluts. I can’t imagine that none of them have secrets to hide. In fact, I would take the Ramirez accusation as tantamount to a declaration of war by the Resistance. And as the old saying goes, all’s fair in love and war.

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With all the domestic squabbles, we’d almost forget China.

China Says US Putting ‘Knife To Its Neck’, Hard To Proceed On Trade (R.)

A senior Chinese official said on Tuesday it is difficult to proceed with trade talks with the United States while Washington is putting “a knife to China’s neck”, a day after both sides heaped fresh tariffs on each other’s goods. When the talks can restart would depend on the “will” of the United States, Vice Commerce Minister Wang Shouwen said at a news conference in Beijing.U.S. tariffs on $200 billion worth of Chinese goods and retaliatory taxes by Beijing on $60 billion worth of U.S. products including liquefied natural gas (LNG) kicked in on Monday, unnerving global financial markets.

“Now that the United States has adopted such a huge trade restriction measure … how can the negotiations proceed? It’s not an equal negotiation,” Wang said, stressing the United States has abandoned its mutual understanding with China. China’s top diplomat also told business people at a meeting in New York that talks could not take place against the backdrop of “threats and pressure”, the Foreign Ministry said. Certain forces in the United States have been making groundless criticisms against China about trade and security issues, which has poisoned the atmosphere for Sino-U.S. ties and is highly irresponsible, State Councillor Wang Yi was quoted as saying, without naming anyone.

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Only the defamation lawsuit. There’s much more to come.

US Judge Suggests He May Dismiss Stormy Daniels Lawsuit Against Trump (R.)

President Donald Trump likely had a free-speech right to make a Twitter comment disputing allegations by adult film actress Stormy Daniels, a federal judge said on Monday, indicating he was inclined to dismiss her defamation lawsuit against Trump. Daniels, whose real name is Stephanie Clifford and who has said she had a sexual encounter with Trump in 2006, sued the president for defamation in April in federal court over the tweet. The lawsuit centers on Daniels’ assertion that a man approached her in 2011 in a Las Vegas parking lot and made a veiled threat after she agreed to talk about her alleged encounter with Trump to In Touch magazine.

Soon after Daniels released a sketch of the man she said threatened her, Trump, who has denied having an affair with Daniels, disputed her account on Twitter, saying: “A sketch years later about a nonexistent man. A total con job, playing the Fake News Media for Fools (but they know it)!” Daniels’ attorneys said the tweet portrayed her as a liar, but attorneys for Trump asked a federal judge in Los Angeles to dismiss the defamation lawsuit. “The question is whether the tweet by the president is protected communication or political hyperbole and non-defamatory on its face,” U.S. District Judge James Otero said at a hearing on Monday.

Otero cited certain protections from defamation Trump would have under the U.S. Constitution’s guarantee of free-speech rights. “He’s a public official, he’s president of the United States, so it doesn’t get much higher than that,” Otero said. “It’s free speech by a public official on a matter of public concern.” Otero stopped short of issuing a formal ruling on the request to dismiss the lawsuit.

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For better or for worse, tthe single market is a complex thing.

UK-EU Flights To Be Grounded In Case Of No-Deal Brexit (Ind.)

Flights will be grounded if Britain crashes out of the EU next March unless an emergency aviation deal can be struck, the government has admitted. The latest batch of advice papers also warned food producers that pre-packaged products “would no longer be valid for the EU market”, without a separate EU business address. Ministers also told motorists that they would need to apply for a green card as proof of third party motor insurance cover when driving in the EU. And pet owners who want to take their dogs and cats abroad would face the significant inconvenience of having to register three months in advance.

Meanwhile, UK hauliers were warned they could be banned from the continent, because they could “no longer rely on automatic recognition by the EU of UK-issued community licences”. The Food and Drink Federation reacted with horror to the technical notices, warning they “lay bare the grisly prospect of a no-deal Brexit”. It urged Theresa May to stop “lecturing the EU” and seek to delay Brexit, by extending the Article 50 deadline, if it could not secure a withdrawal deal “imminently”. Layla Moran, a Liberal Democrat supporter of the anti-Brexit Best for Britain, said the threat to flights was “a bureaucratic nightmare and a farce”.

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They’ve had two years to have unity on this. They’re as bad as the other side.

Labour Confirms Remain Can Be Party’s Choice In New Brexit Referendum (Ind.)

Labour is embroiled in a row over the party’s approach to a Final Say Brexit referendum, following a split between two of the shadow cabinet’s most senior figures. Sir Keir Starmer, the party’s Brexit spokesman, was forced to confirm that remaining in the EU will be a potential option in a future referendum backed by Labour after John McDonnell, the shadow chancellor, ruled the idea out. Amid a backlash Mr McDonnell rowed back on his comments, and later conceded at a meeting at the party’s conference in Liverpool that Labour could still back a new vote that would see the party stay in the EU.

It comes as Sir Keir will tell Labour conference on Tuesday that the party is set to oppose the deal Theresa May brings back from Brussels, having determined that it cannot meet his “six tests”. Another shadow cabinet minister, Barry Gardiner, also broke ranks to say that the idea the party will be able to secure a general election if Ms May’s plans fall apart was “looney tunes territory”. If the prime minister’s Brexit plans are rejected by parliament, and no election is forthcoming, then Labour’s new policy – arduously negotiated by Mr Starmer this week and to be approved on Tuesday – would see the party committed to a new Brexit referendum.

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If you want to Make America Great Again, start with its natural world. It would be a lot less great without grizzlies and eagles and all the other riches.

US Judge Orders Federal Protection Restored To Yellowstone Grizzlies (R.)

A federal judge on Monday ordered Endangered Species Act protections restored to grizzlies in and around Yellowstone National Park, halting plans for the first licensed trophy hunts of the bears in the region in more than 40 years. U.S. District Judge Dana Christensen in Missoula, Montana, sided with environmentalists and native American groups by overruling the U.S. Fish and Wildlife Service decision to strip the grizzlies of their status as a threatened species. The outcome caps one of the most high-profile legal battles over the Endangered Species Act in many years, rivaling previous disputes surrounding the gray wolf and northern spotted owl. The ruling came as the Trump administration is seeking to rewrite Endangered Species Act regulations that scientists say would erode wildlife protection for the benefit of commercial interests.

The Trump administration’s decision in June of last year to “de-list” the grizzly, formally proposed in 2016 during the Obama era, was based on agency findings that the bears’ numbers had rebounded enough in recent decades that federal safeguards were no longer necessary. The de-listing, welcomed by big-game hunters and cattlemen, had applied to about 700 Yellowstone-area grizzlies in Wyoming, Idaho and Montana. Environmentalists countered that treating those bears separately from other grizzly populations in Montana and elsewhere in the Lower 48 states was biologically unsound and illegal under the Endangered Species Act, and the judge agreed.

Grizzlies, which are slow to reproduce, number fewer than 2,000 bears across the Lower 48. That is far below an historic high of 100,000 before widespread shooting, poisoning and trapping reduced the bears’ population to just several hundred by 1975, when they were placed under federal protection.


REUTERS/Jim Urquhart/File Photo

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We’re waiting for the first hundreds of people to drown because no ships are left to save them and no ports open.

Aquarius Cannot Disembark Migrants In Marseille – French Minister (G.)

France is not ready to allow the Mediterranean rescue ship Aquarius to dock and disembark dozens of migrants at the port of Marseille, France’s finance minister has said. “For the moment it’s ‘no’,” Bruno Le Maire said when asked during an interview on BFM news TV channel if Paris was ready to respond positively to a request from charities for permission to dock with 58 people onboard in the southern French port. Under European rules, ships were supposed to get docking access at the nearest port, said Le Maire, adding that Marseille was not the nearest port.

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Just ban the stuff alright.

Monsanto’s Glyphosate Weedkiller Harms Honeybees, Research Finds (G.)

The world’s most used weedkiller damages the beneficial bacteria in the guts of honeybees and makes them more prone to deadly infections, new research has found. Previous studies have shown that pesticides such as neonicotinoids cause harm to bees, whose pollination is vital to about three-quarters of all food crops. Glyphosate, manufactured by Monsanto, targets an enzyme only found in plants and bacteria. However, the new study shows that glyphosate damages the microbiota that honeybees need to grow and to fight off pathogens. The findings show glyphosate, the most used agricultural chemical ever, may be contributing to the global decline in bees, along with the loss of habitat.

“We demonstrated that the abundances of dominant gut microbiota species are decreased in bees exposed to glyphosate at concentrations documented in the environment,” said Erick Motta and colleagues from University of Texas at Austin in their new paper. They found that young worker bees exposed to glyphosate exposure died more often when later exposed to a common bacterium. Other research, from China and published in July, showed that honeybee larvae grew more slowly and died more often when exposed to glyphosate. An earlier study, in 2015, showed the exposure of adult bees to the herbicide at levels found in fields “impairs the cognitive capacities needed for a successful return to the hive”.

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A small win.

Glyphosate Industry Fails to Stop US Funding for Global Cancer Agency (SP)

In a massive victory for independent science, it was announced Sunday that the U.S. Senate and Congress appropriations committees have deleted text from a controversial Bill, which would have cut all the U.S. funding to the International Agency for Research on Cancer (IARC), after they challenged the chemical industry by classifying the world’s most used herbicide, glyphosate, as a probable human carcinogen in 2015. The ‘IARC rider’ text on page 110 (sec.229) of the draft Labor Health and Human Services FY19 Appropriations Bill was removed after negotiations. Currently, 25 Nations contribute to IARC’s total budget of about USD $50 million (about EUR 44 million), with 7.5% (USD $3.8 million) coming from the U.S..

Following IARC’s classification of glyphosate as a probable human carcinogen in 2015, Monsanto and the American Chemistry Council launched a full-throttle attack on the international scientific body. IARC is an arm of the World Health Organization and funded by 24 governments, and predominantly by the NIH National Cancer Institute. [..] Enter glyphosate. Glyphosate is the active ingredient in Monsanto’s best-selling weedkiller, Roundup, and is used on the majority of commodity crops in the United States because it is effective at controlling a variety of weed types. Any change in the safety determination of this chemical would shake up the messaging that the company has used for years.

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Sep 042018
 
 September 4, 2018  Posted by at 9:04 am Finance Tagged with: , , , , , , , , , ,  


Edward S. Curtis Lucille, Dakota Sioux 1907

 

Department of Homeland Security Lied About Russia Hacking US Voter Sites (CN)
Housing Bubble Pops in Sydney & Melbourne
Sydney, Melbourne Have Zero Cashflow Positive Suburbs Left (News.com.au)
Europe’s News Agencies Blast Google, Facebook For ‘Plundering’ Content (AFP)
The Emerging Market Crisis Is Back. And This Time It’s Serious (CNBC)
Bringing Up The Bodies in Emerging Markets (Napier)
Brexit Is The Wrong Diagnosis Of A Real Crisis (LSE)
China Says It Is Helping Africa Develop, Not Accumulate Debt (R.)
The Uncomfortable Hiatus (Kunstler)
Brazil Court Lifts Ban On Monsanto’s Glyphosate Weedkiller (AFP)

 

 

Read this excellent piece by Gareth Porter and you’ll never believe another single word about meddling. DHS made it all up, because it wanted to be the no. 1 cybersecurity unit in the US.

Department of Homeland Security Lied About Russia Hacking US Voter Sites (CN)

The narrative of Russian intelligence attacking state and local election boards and threatening the integrity of U.S. elections has achieved near-universal acceptance by media and political elites. And now it has been accepted by the Trump administration’s intelligence chief, Dan Coats, as well. But the real story behind that narrative, recounted here for the first time, reveals that the Department of Homeland Security (DHS) created and nurtured an account that was grossly and deliberately deceptive. DHS compiled an intelligence report suggesting hackers linked to the Russian government could have targeted voter-related websites in many states and then leaked a sensational story of Russian attacks on those sites without the qualifications that would have revealed a different story.

When state election officials began asking questions, they discovered that the DHS claims were false and, in at least one case, laughable. The National Security Agency and special counsel Robert Mueller’s investigating team have also claimed evidence that Russian military intelligence was behind election infrastructure hacking, but on closer examination, those claims turn out to be speculative and misleading as well. Mueller’s indictment of 12 GRU military intelligence officers does not cite any violations of U.S. election laws though it claims Russia interfered with the 2016 election.

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“With impeccable timing, there is a flood of new condos expected to be completed over the next two years..”

Housing Bubble Pops in Sydney & Melbourne

In Sydney, breeding ground for one of the world’s biggest housing bubbles, prices of single-family houses dropped 7.3% in August, compared to a year earlier. Prices of “units” — condos in US lingo — fell 2.2% year-over-year. Price declines were the sharpest at the high end, with prices down 8.1% in the most expensive quarter of home sales. Prices of all types of homes combined fell 5.6%, according to CoreLogic’s Daily Home Value Index. The index is down 5.8% from its peak last September:

Melbourne, where the inflection point has been lagging a few months behind Sydney’s, is in the process of catching up. Over the three month-period, June-August, prices fell 2.0%, making Melbourne the weakest housing market among the capital cities. By segment, house prices fell 2.7% from a year ago while condo prices still inched up 1.5%. At the most expensive quarter of sales, prices fell 5.2% from a year ago. For all types of dwellings combined, prices declined 1.7% year-over-year, to the lowest level since early June 2017, according to CoreLogic. Prices are down 3.6% from their peak at the end of November 2017:

[..] With impeccable timing, there is a flood of new condos expected to be completed over the next two years, something avid crane-counters in Sydney and Melbourne have been swearing for a while. Here are some of these astounding numbers that CoreLogic estimates based on data it collected from the industry: Greater Sydney: In 2019: 31,500 new condos are scheduled to be completed. In 2020, another 45,500 condos are expected to be completed. This brings the two-year total of new condos to 77,000 units, which will increase the total stock of condos by 9.3%! Greater Melbourne: The oncoming flood of new condos is expected to reach 29,000 units in 2019 and nearly 50,000 units in 2020. Over the two years, this will increase the total stock of condos by nearly 79,000 units, or by 11.5%!

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“Even property investors have been priced out of the market.”

Sydney, Melbourne Have Zero Cashflow Positive Suburbs Left (News.com.au)

Even property investors have been priced out of the market. There are “currently no suburbs” in Sydney, Melbourne or Canberra where an investor can buy a detached house and expect it to be cashflow positive with a deposit of 20 per cent or less, according to an analysis by Propertyology. Releasing a list of the country’s “best capital city cash cow suburbs”, the research firm said buyers would have to travel to the Central Coast, 100km from the Sydney CBD, before finding an investment property with decent cashflow. Even then, a median-priced $490,000 house in Lake Munmorah — the least worst “Sydney” suburb identified in Propertyology’s list — will leave the investor $3093 out of pocket.

“Victoria paints a similar picture, with greater Melbourne’s best locations for cash flow investors within the municipality of Melton — 40km northwest of the CBD,” Propertyology head of research Simon Pressley said in a statement. It comes as CoreLogic figures showed national dwelling values fell for the 11th consecutive month in August, led by weakness in the two major capitals that comprise about 60 per cent of Australia’s housing market by value. Negatively geared properties — when the rental return is less than the interest payments and other costs — are “okay when you’re getting 10 per cent capital growth year in, year out”, said AMP Capital chief economist Dr Shane Oliver.

But investors now face falling house prices, rising interest rates, tighter lending conditions and the possibility of a future Labor government cracking down on negative gearing and capital gains tax breaks. “The equation gets more complicated,” Dr Oliver said.

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Getting rich off of other people’s work.

Europe’s News Agencies Blast Google, Facebook For ‘Plundering’ Content (AFP)

Europe’s biggest news agencies accused Google and Facebook of “plundering” news for free on Tuesday in a joint statement that called on the internet giants to share more of their revenues with the media. In a column signed by the CEOs of around 20 agencies including France’s Agence France-Presse, Britain’s Press Association and Germany’s Deutsche Presse-Agentur they called on the European Parliament to update copyright law in the EU to help address a “grotesque imbalance”. “The internet giants’ plundering of the news media’s content and of their advertising revenue poses a threat both to consumers and to democracy,” the column said.

European Parliament lawmakers are to set to debate a new copyright law this month that would force the internet giants to pay more for creative content used on their platforms such as news, music or movies. A first draft of the law was rejected in July and the plans have been firmly opposed by US tech firms, as well as advocates of internet freedom who fear that the regulations could lead to higher costs for consumers. “Can the titans of the internet compensate the media without asking people to pay for access to the internet, as they claim they would be forced to? The answer is clearly ‘yes’,” the column said. The joint statement from the agencies, which are major suppliers of news, photos and video, said Facebook reported revenues of $40 billion (34 billion euros) in 2017 and profits of $16 billion, while Google made $12.7 billion on sales of $110 billion.

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Been here before. This time is wider and deeper.

The Emerging Market Crisis Is Back. And This Time It’s Serious (CNBC)

Markets have a very short attention span. Like babies, they move on quickly from one toy, or in this case an event, to another. For instance, markets seem to have moved on from the formation of the “Fragile Five,” a group of countries that suffered heavily when the U.S. Federal Reserve started to roll back its bond-buying program in 2013. Made up of Brazil, India, Indonesia, Turkey and South Africa, this group was marked by heavy currency depreciation, high current account deficits and political instability at home. The slump in commodity prices and fears of a Chinese slowdown kept the pressure on these economies. However, they have started to see a comeback; in India and Indonesia, for example, a change in government has led to political and economic reforms.

Investors started crowding this space and inflows into funds with exposure to these markets increased. But markets are feeling a sense of deja vu. Blame it on a stronger dollar, escalating tensions since President Donald Trump came to power, worries over a full-fledged trade war with China or rising interest rates in the U.S., this time around the crisis seems to have entered a new phase. The damage is far more widespread. The crisis has engulfed countries across the globe — from economies in South America, to Turkey, South Africa and some of the bigger economies in Asia, such as India and China. A number of these countries are seeing their currency fall to record levels, high inflation and unemployment, and in some cases, escalating tensions with the United States.

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“..the rise of the rule of man begins to squeeze out the rule of law..”

Bringing Up The Bodies in Emerging Markets (Napier)

Investors brought up in the developed world take for granted the stability and continuation of the rule of law. They expect it to be as available and constant as air. Anyway, what role can a consideration of the rule of law play in trying to obtain index beating quarterly returns? It is this myopia and not the myopia associated with the short-term dumping of assets, because they are labelled ‘emerging markets’, that is particularly dangerous. The history of emerging markets is the history of populism, the real populism that subverts human rights and property rights. On the rise in emerging markets, this populism is resulting in a growing exodus of what are now very large sums, even in global terms, of local savings.

It is the shift in local savings, more so than foreign savings, that is pushing emerging market exchange rates to ever lower levels. It is not the flighty financial capital seeking slightly better interest rate differentials that departs in situations like this. It is the financial capital that funds development and growth that flees, as the rise of the rule of man begins to squeeze out the rule of law. The loss of such capital has profound long-term economic impacts. There is a key reason why the strong men are on the rise and the rule of law on the decline: the world is failing to inflate away its debts. Even before we invented paper money, there was a well recognized method of inflating away debts.

Perhaps most famously Henry VIII’s so-called great debasement (1544-1551) inflated away the excessive debts run up to fund wars with France and Scotland, as well as a bit of lavish spending by the king himself. Your analyst meets investors almost every day who believe that inflation is currently playing a similar role. However, such an assertion ignores the fact that the global non-financial debt to GDP ratio is now 244% up from what seemed a dangerous level of 210% of GDP as the global economy peaked in December 2007.

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A nation that hasn’t moved in decades.

Brexit Is The Wrong Diagnosis Of A Real Crisis (LSE)

The Leave campaign in 2016 had a lot in common with the 1979 Conservative election manifesto. Both evoked the threat of a bureaucratic super-state and something approaching a conspiracy of that state against the public. Both promised to rescue a Greater Britain from the conspiratorial political forces that were holding it back. Both campaigns were a misdiagnosis of the real crisis at hand. This time we face a crisis of ungovernability potentially far more severe than that of the 1970s; but its roots are less in Europe than in the failures of the homegrown neoliberal reforms of the British state.

The last three decades of state reform in Western democracies have aggravated rather than resolved the social divisions that emerged with de-industrialisation. Over the last thirty years, liberal market economies in general and the UK in particular have transformed the character of their states through privatization and outsourcing, through the development of quasi markets in welfare, and the rejection of industrial policies. At the same time, permissive tax and regulatory regimes have encouraged large corporations to opt out of their former social obligations in the name of maximising shareholder value.

The ‘supply-side revolution’ of the last thirty years was driven by the dominant New Right diagnosis of the economic crises of the 1970s and based on the radical public choice economics aligned with the Chicago and Virginia schools. According to this diagnosis it was the state that was primarily responsible for the end of the post-war ‘golden age of growth’ because of its inhibition of the market. Thus, according to the New Right and later New Labour too, it wasn’t technological change, or de-industrialisation in the face of emerging markets, it wasn’t the Nixon shock, or the end of Bretton Woods, nor rising exchange rate instability, it wasn’t stagflation or the oil crises that had confronted the country with a need to re-evaluate its production regime. It was the state. And so it was the state, above all else, that had to be transformed.

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But still there’s “A wave of African nations seeking to restructure their debt with China”. Care to explain?

China Says It Is Helping Africa Develop, Not Accumulate Debt (R.)

China is helping Africa achieve development, not accumulate debt, a top Chinese official said on Tuesday, as the government pushes back against criticism it is loading the continent with an unsustainable burden during a major summit in Beijing. Chinese President Xi Jinping on Monday pledged funds of $60 billion to African nations at the opening of the Forum for China-Africa Cooperation, matching the size of the financing package offered at the last summit in Johannesburg in 2015. A wave of African nations seeking to restructure their debt with China has served as a reality check for Beijing’s relationship with the continent, though most countries still see Chinese lending as the best bet to develop their economies.

“If we take a closer look at these African countries that are heavily in debt, China is not their main creditor,” China’s special envoy for Africa, Xu Jinghu, told a news conference. “It’s senseless and baseless to shift the blame onto China for debt problems.” China would carefully choose projects that avoid causing debt problems when pushing forward with Xi’s pledges to Africa, she added. “When we cooperate with African countries we will conscientiously and fully carry out feasibility studies, to choose which projects can go ahead. These projects will take into account their development prospects so as to help African countries achieve sustainable development and avoid debt or financial problems.”

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“The shale oil “miracle” was a stunt enabled by supernaturally low interest rates..”

The Uncomfortable Hiatus (Kunstler)

Energy: The shale oil “miracle” was a stunt enabled by supernaturally low interest rates, i.e. Federal Reserve policy. Even The New York Times said so yesterday (The Next Financial Crisis Lurks Underground). For all that, the shale oil producers still couldn’t make money at it. If interest rates go up, the industry will choke on the debt it has already accumulated and lose access to new loans. If the Fed reverses its current course — say, to rescue the stock and bond markets — then the shale oil industry has perhaps three more years before it collapses on a geological basis, maybe less. After that, we’re out of tricks. It will affect everything. The perceived solution is to run all our stuff on electricity, with the electricity produced by other means than fossil fuels, so-called alt energy.

This will only happen on the most limited basis and perhaps not at all. (And it is apart from the question of the decrepit electric grid itself.) What’s required is a political conversation about how we inhabit the landscape, how we do business, and what kind of business we do. The prospect of dismantling suburbia — or at least moving out of it — is evidently unthinkable. But it’s going to happen whether we make plans and policies, or we’re dragged kicking and screaming away from it. Corporate tyranny: The nation is groaning under despotic corporate rule. The fragility of these operations is moving toward criticality. As with shale oil, they depend largely on dishonest financial legerdemain. They are also threatened by the crack-up of globalism, and its 12,000-mile supply lines, now well underway. Get ready for business at a much smaller scale.

Hard as this sounds, it presents great opportunities for making Americans useful again, that is, giving them something to do, a meaningful place in society, and livelihoods. The implosion of national chain retail is already underway. Amazon is not the answer, because each Amazon sales item requires a separate truck trip to its destination, and that just doesn’t square with our energy predicament. We’ve got to rebuild main street economies and the layers of local and regional distribution that support them. That’s where many jobs and careers are.

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In the most corrupt places on earth, Monsanto can do what it wants.

Brazil Court Lifts Ban On Monsanto’s Glyphosate Weedkiller (AFP)

An appellate court on Monday lifted a court-ordered suspension of licenses in Brazil for products containing glyphosate, an industrial weedkiller in common use in Latin America’s agricultural powerhouse. Federal appeals court judge Kassio Marques ruled that “nothing justified” the suspension by a lower court, saying it had been abruptly imposed “without previous analysis of the grave impact it would have on the country’s economy and on production in general.” The suspension, which had been ordered August 3 by a federal judge in Brasilia, was supposed to go into effect on Monday until a “toxicological re-evaluation” of all products containing glyphosate could be completed by Brazil’s sanitary authority.

The ban also was to have extended to products containing the chemicals thiram and abamectin. Glyphosate is used in weedkillers like Roundup, made by Monsanto, whose parent company Bayer had urged that the ban be scrapped. Bayer hailed the suspension as “very good news for Brazilian farmers.” It comes just weeks after a jury in California ordered Monsanto to pay $289 million to a dying former school groundskeeper for failing to warn him of the risk that Roundup might cause cancer.

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