Mar 012020
 


Arthur Rothstein Accident on US 40 between Hagerstown and Cumberland, Maryland 1936

 

 

 

HK Coronavirus Outbreak Not At Peak: Gabriel Leung (RTHK)
Indonesia’s Frontline Hospital Defends Policies To Tackle Coronavirus (R.)
Don’t Test, Don’t Tell! (Ben Hunt)
Markets Expected To Fall Further As Coronavirus Hits China’s Economy (G.)
China Pollution Clear Amid Coronavirus Slowdown (BBC)
Bernie Sanders Looks To Blow Away Rivals On Super Tuesday (G.)
US and Taliban Ink Afghanistan Peace Agreement (RT)
‘Get Out Of The Way, Let Us Deal With Assad’, Erdogan Says He Told Putin (RT)
Threat Of Russia-Turkey-NATO Hot War A Godsend For US Foreign Policy (RT)
Greece Vetoes NATO Communique Intended to Support Turkey in Syria (GR)
Turkey Minister: 76,358 Migrants Headed To Border With Greece (K.)

 

Cases 85,683 (+ 1,950 from yesterday’s 83,733)

Deaths 2,933 (+ 73 from yesterday’s 2,860)

 

• First cases: Armenia, Ireland, Luxembourg

• First deaths: US, Australia, Thailand

• China 79,824 cases, 593 new, total deaths 2,870, 41,625 recovered, 2 more doctors die
– new Hubei cases rise, 565 in the provincial capital Wuhan

• South Korea 3,736, 1023 new cases, but :
– estimates of 4,200 infections among Shincheonji church members
– that’s 80% of those tested, there are 210,000 church members, some of whom visited Wuhan

• Italy 1,178 (up 31%!), 29 deaths

• Iran 593, 43 deaths
– Twitter: “The country is imploding – law and order to disappear in the next days.”

• Japan 241 cases, 2 deaths

Singapore 102 cases
France 100
Hong Kong 95, 2 deaths
US 71, 1 death
Thailand 42 cases, 1 death
Bahrain 38
UK 23
Switzerland 18
Norway 15
Iraq 13
Lebanon 7
Holland 7
Pakistan 4
Mexico 4

59 countries affected

 

From SCMP:

 

 

From Worldometer

 

 

I added a third counter, from COVID2019.app, a project where 70 people -and counting- work together

 

 

 

 

Leung is behind some of the most dire predictions. But not for his homebase HK.

HK Coronavirus Outbreak Not At Peak: Gabriel Leung (RTHK)

The Dean of the University of Hong Kong’s Faculty of Medicine, Professor Gabriel Leung, on Sunday warned that the coronavirus outbreak in Hong Kong had not yet reached its peak, saying it was too early to tell when it would be over and people should not let their guard down against the respiratory disease. As of Saturday, Hong Kong had reported 95 confirmed cases of the virus, known as Covid-19, and two deaths. But speaking after a radio programme, Professor Leung said the overall decline in new cases on the mainland did show that the first wave of the outbreak there was largely under control, except in Hubei province, where the disease appears to have originated.

On Sunday, the mainland reported 573 new Covid-19 infections, up from the 427 on Saturday and the highest for a week, although much lower than earlier in the month. The mainland’s National Health Commission also reported 35 deaths, fewer than the 47 on Saturday, which took the death toll to 2,870. All but one of Sunday’s deaths – and all but three of its new cases – were in Hubei. The total number of cases on the mainland is now approaching 80,000. Professor Leung said the rest of the world was now only seeing the beginning of the outbreak and this would make containing the spread of the virus in Hong Kong more difficult. However, he said Hong Kong had actually been doing well at virus control.

“The rest of the world actually views Hong Kong, along with Singapore, as the gold standard in epidemic control,” he said. “If you look at these two places, we have very similar absolute numbers of confirmed cases, yet we have a population that is one third bigger then Singapore, so – on a per capita basis – we’re not doing too badly.”


Corona timeline develops in very similar ways in various locations

Read more …

Over 260 million people, 141 tests. It’s almost like the US.

Indonesia’s Frontline Hospital Defends Policies To Tackle Coronavirus (R.)

Indonesia has the resources to cope with a coronavirus outbreak, the director of its leading infectious diseases hospital said, defending detection procedures in the Southeast Asian nation of more than 260 million, where no cases have been reported. The world’s fourth most populous nation has tested 141 suspected cases, a small figure for its population, sparking concern among some medical professionals of a lack of vigilance and a risk of undetected cases. Neighboring Malaysia has reportedly run about 1,000 tests, and Britain more than 10,000. “We can’t doubt our skills and the facts we gather,” said Muhammad Syahril, director of the Sulianti Saroso hospital in Jakarta, the capital, when asked why Indonesia had detected no cases.

“If we don’t have cases, we don’t have cases,” he said in an interview at the hospital on Friday. “Why would we cover it up?” [..] The hospital was ready to tackle any outbreak, armed with experience gained in handling disease such as the 2003-2004 outbreak of Severe Acute Respiratory Syndrome (SARS), he said. A health ministry official previously told Reuters that some hospitals, particularly in eastern Indonesia, had smaller capacity to handle virus cases. But even in Jakarta not all best practices appear to be followed and a recent visit to another hospital revealed some nurses without masks, despite attending to a patient with fever.

Fuelling concern about Indonesia’s vulnerability, four infections were confirmed in travelers who had spent time there, including a Japanese national living in Malaysia and one returning to New Zealand from Iran via the resort island of Bali. Indonesian physician Shela Putri Sundawa worries that screening could miss potential carriers without symptoms. “When people have travel or contact history, but they only have issues with coughing or minor fever, they’ll just be monitored,” she said, calling for tighter surveillance. Tests were run when doctors determined that symptoms pointed “to that direction”, Health Minister Terawan Agus Putranto saidlast week. “Imagine if everybody who had a cough or flu was checked, then millions would be checked,” he said, adding that it was “a blessing from the Almighty” that no cases had been found.

Read more …

Now repeat this in dozens of other countries.

Don’t Test, Don’t Tell! (Ben Hunt)

Patient comes in from another hospital on Wednesday, Feb. 19 – this is one week ago – already intubated and on a ventilator, and the doctors at UC Davis – who have treated other COVID-19 cases – IMMEDIATELY suspect COVID-19. But the CDC refuses to test for COVID-19. Why? Because it didn’t fit their “criteria” for testing. They didn’t know for sure that the patient was in mainland China within the past 14 days, and they didn’t know for sure that the patient was in close contact with another confirmed case, so BY DEFINITION this patient can’t possibly have COVID-19. No test for you! This is “Don’t Test, Don’t Tell” and it is the single most incompetent, corrupt public health policy of my lifetime. And it’s happening all over the country.

[..] the update: 83 people are in self-quarantine at home, where they are supposed to “check their temperature” daily. Don’t have a thermometer? Not to worry! The Nassau County Health Commission will provide one for you! Who are the 83 in self-quarantine? Why, they’re everyone that Homeland Security says should be in self-quarantine, based on “current guidelines” of someone who was in mainland China within the past 14 days. Has it been 15 days since your mainland China visit? Have you been to Northern Italy in past 14 days? Have you been to Iran in past 14 days? Have you been to South Korea in past 14 days? Well, no self-quarantine for you! You’re fine!

And here’s the kicker. Not only is there ZERO tracking or monitoring of anyone who has been swimming in the coronavirus stew of South Korea, Northern Italy and Iran, but let’s say that you have in fact been to one of those areas recently and now you’re feeling sick. You go to the doctor and you tell her the whole story. Both of you suspect it might be COVID-19. You’re trying to do the right thing here. You call the county health authority. You call the state health authority. You call the CDC. And then you learn the awful truth of Don’t Test, Don’t Tell. It’s not that testing is not available…It’s that testing is not ALLOWED. [..] here’s the other quote from the UC Davis email that I’d like you to pay close attention to:

“When the patient arrived [Wednesday], the patient had already been intubated, was on a ventilator, and given droplet protection orders because of an undiagnosed and suspected viral condition. … On Sunday, the CDC ordered COVID-19 testing of the patient and the patient was put on airborne precautions and strict contact precautions.” Translation: for four days, every healthcare professional treating this patient at UC Davis was exposed to airborne transmission of COVID-19. And so was every healthcare professional at the hospital before UC Davis. Because the CDC refused to test this patient for COVID-19 in a timely manner, the doctors and nurses and technicians caring for this patient were put at risk.

Read more …

But!: “The most horrible week for the Dow since the GFC in 2008 is hardly visible on the long-term chart.”

Imagine what would need to happen to make it visible.

Markets Expected To Fall Further As Coronavirus Hits China’s Economy (G.)

It is likely the fresh data, which measures the economic impact of Beijing’s efforts to clamp down on the virus, will further spook investors who sent global markets tumbling 11% last week in the worst seven-day period for stocks since the 2008 financial crash. With factories forced to remain closed after the traditional lunar new year holiday shutdown, China’s official Purchasing Managers’ Index (PMI), a widely watched measure of economic activity, fell further in February than at any time in the last 12 years, China’s National Bureau of Statistics said. The bureau found a significant collapse in domestic and export orders and a contraction of the country’s burgeoning service sector.

Similar surveys expected next month covering Japan and South Korea, both seriously affected by the coronavirus outbreak, could prolong the rout on global stock markets, analysts said. The outbreak has already disrupted supplies to factories in Europe, where companies have struggled to access vital components sourced from east Asia. Investors expect to find out in the next few days whether the outbreak is accelerating in the US, the world’s biggest economy, and how far central banks and governments are prepared to go to deal with an epidemic. “Right now the market is saying that this is unbounded. We don’t know what the limits are and we don’t know where it’s going to peak,” said Graham Tanaka, the chief investment officer at New York-based Tanaka Capital. Stock markets globally lost about $5tn of value last week, as measured by the MSCI all-country index.

Last weekend China’s president, Xi Jinping, told local officials that low-risk areas should “resume full production and normal life”. The government reported that larger factories reached 85.6% of their capacity by the middle of last week. Analysts at ING said: “This isn’t as positive as it sounds. Even if China‘s factory production can recover in March, it will still face the risk of a low level of export orders. This is because the supply chain will continue to be broken, this time in South Korea, Japan, Europe, and the US, where Covid-19 has begun to spread.” Unofficial reports show that factories outside Hubei province, where the virus started, could be working at no more than 75% of their capacity and many nearer 25% to 50% while millions of workers remain trapped in their home province, unable to travel back to their place of work.

Read more …

Silver linings are everywhere.

China Pollution Clear Amid Coronavirus Slowdown (BBC)

Satellite images have shown a dramatic decline in pollution levels over China, which is “at least partly” due to an economic slowdown prompted by the coronavirus, US space agency Nasa says. Nasa maps show falling levels of nitrogen dioxide this year. It comes amid record declines in China’s factory activity as manufacturers stop work in a bid to contain coronavirus. [..] Nasa scientists said the reduction in levels of nitrogen dioxide – a noxious gas emitted by motor vehicles and industrial facilities – was first apparent near the source of the outbreak in Wuhan city but then spread across the country.

Nasa compared the first two months of 2019 with the same period this year. The space agency noted that the decline in air pollution levels coincided with restriction imposed on transportation and business activities, and as millions of people went into quarantine. “This is the first time I have seen such a dramatic drop-off over such a wide area for a specific event,” Fei Liu, an air quality researcher at Nasa’s Goddard Space Flight Center, said in a statement. She added that she had observed a decline in nitrogen dioxide levels during the economic recession in 2008, but said that decrease was more gradual. Nasa noted that China’s Lunar New Year celebrations in late January and early February have been linked to decreases in pollution levels in the past. But it said they normally increase once the celebrations are over.

Read more …

Oh ye of little faith in the DNC.

Bernie Sanders Looks To Blow Away Rivals On Super Tuesday (G.)

Bernie Sanders doesn’t do things by half measures. As he vies to become the 46th president of the United States he is looking to shatter no fewer than three historic records. President Sanders would be the first Jewish incumbent of the most powerful office on Earth. Aged 79 on inauguration day, he would become the oldest president in US history having unseated the current record-holder, Donald Trump, 73. Most striking of all, he would be the first American commander-in-chief describing himself as a “democratic socialist”. Judging by recent attacks from his detractors – Democratic ones, not Trump supporters – that is the political equivalent of carrying the coronavirus.

“I’ll tell you what it adds up to,” said Pete Buttigieg, his rival for the Democratic presidential nomination, at this week’s TV debate ahead of Saturday’s primary in South Carolina. Buttigieg referenced Sanders’ “radical” policies of universal tax-funded healthcare, debt-free college tuition and a Green New Deal to tackle the climate crisis, then said: “It adds up to four more years of Donald Trump.” On Tuesday Sanders has the chance to take his political insurgency and wipe it across the nation. In the 2020 cycle, Super Tuesday is even more super-charged than usual, providing him with an opportunity to take his already impressive lead over Buttigieg and six other Democratic rivals and virtually blast them out of the water.

In Iowa he finished a splinter-thin second to Buttigieg. In New Hampshire he won. In Nevada he sealed his frontrunner status with a slam-dunk victory. Now Super Tuesday promises to project him to all-but invincible heights. Fourteen states go to the polls on 3 March, between them commanding two-thirds of the 1991 delegates he needs to win outright.

Read more …

At least it sounds good.

If only because John Bolton said on Twitter:

Signing this agreement with Taliban is an unacceptable risk to America’s civilian population. This is an Obama-style deal. Legitimizing Taliban sends the wrong signal to ISIS and al Qaeda terrorists, and to America’s enemies generally.”

US and Taliban Ink Afghanistan Peace Agreement (RT)

Washington and the Taliban movement have signed a deal that lays out conditions for the withdrawal of US and NATO troops from Afghanistan. The agreement was signed by US peace envoy for Afghanistan Zalmay Khalilzad and one of the Taliban’s senior leaders, Mullah Abdul Ghani Baradar, in Qatar’s capital Doha on Saturday. The deal will see Washington and its allies withdrawing their troops from five bases in Afghanistan within the next 135 days. The remaining American soldiers will leave the country in 14 months if the Taliban fulfills its commitments. The document lays the groundwork for future negotiations between the Taliban and the Afghan government, aimed at bringing a lasting peace to the country.


The US has agreed to facilitate the talks and lift sanctions from Taliban members by August, provided the negotiations commence as planned. Taliban leader Hibatullah Akhundzada called on all of his fighters to honor and abide by the agreement. The US and Afghan governments said earlier that the peace agreement will include guarantees that Afghan territory will not be used by terrorist groups to target the US and its allies. Also, Washington and Kabul agreed on a prisoner exchange with the Taliban by March 10, vowing to release up to 5,000 and 1,000 people respectively. Calling the deal “a decisive step toward real peace in Afghanistan,” US Secretary of State Mike Pompeo spoke about the victories against Al-Qaeda, the group behind the 9/11 attacks. “Al-Qaeda today is a shadow of its former self. We have decimated its leadership, and now we have the Taliban agreeing that Al-Qaeda must never again find safe haven in Afghanistan,” he said.

Read more …

Seeing 33 of his troops killed didn’t bring home Putin’s message to Erdogan. Whose claims are for domestic purposes only, until someone dares him.

‘Get Out Of The Way, Let Us Deal With Assad’, Erdogan Says He Told Putin (RT)

As tensions in Idlib province reach the boiling point, Turkey has asked Russia to let it fight the Syrian government face-to-face, President Recep Tayyip Erdogan revealed. Erdogan asked Putin “to get out of the way” and let the Turkish troops deal with Syrian President Bashar Assad, the Turkish leader told his AK Party on Saturday. Erdogan was explaining to lawmakers his government’s handling of the escalation in the northwestern Syrian province of Idlib, where Turkish and Syrian troops have engaged in several clashes over the past weeks. The hostilities have all but ruined Turkey’s 2018 agreement with Russia on de-escalating the violence in the area, which remains the last major stronghold of anti-government forces in Syria.

Describing his phone conversation with Putin, Erdogan said if Russia’s interest in Syria was to keep a military presence there, Turkey, a NATO member, does not object to it. I asked Mr Putin: What’s your business there? If you establish a base, do so but get out of our way and leave us face to face with the regime. Moscow intervened in the Syrian conflict in 2015 to help Damascus fight against jihadist groups. Moscow said helping the Syrian government prevented future attacks launched by this would-be entity against other nations, including Russia. Erdogan said Ankara now considers Syrian government troops a legitimate target for its attacks, claiming Damascus lost over 2,100 soldiers in Idlib.

It was not immediately clear if the casualty number only represents Syrian troops killed directly by the Turkish military or includes those killed by Turkish-backed armed groups. Erdogan added that “seven warehouses with chemicals” were also destroyed in Syria, but did not offer any details or evidence regarding whether Syria still had chemical weapons in its possession. The Turkish leader said fighting against the Syrian government is necessary to prevent a humanitarian disaster in Idlib, which would cause a new influx of refugees into Turkey across the border. Part of the Turkish response to the situation was opening the border with Europe to asylum-seekers. Erdogan said the EU failed to support Turkey, which already hosts over 3,6 million refugees from Syria and faces as many as 4 million new arrivals now.

Read more …

Does NATO Article 5 apply to members invading the sovereign soil of other nations?

Threat Of Russia-Turkey-NATO Hot War A Godsend For US Foreign Policy (RT)

Turkey is calling for NATO’s protection after 33 of its soldiers were killed in an apparent Syrian airstrike in Idlib, allegedly while fighting in terrorist ranks. In the regional chaos that ensues, only one player stands to gain.
Speculation over what’s to come next has seen #article 5 trending on Twitter in the hours following the attacks, after Omer Celik, spokesman for Turkey’s ruling AKP party, indicated to reporters in Ankara that he was looking at requesting formal NATO protection against Damascus and, by proxy, the Russian air force. “We call on NATO to [start] consultations. This is not [an attack] on Turkey only, it is an attack on the international community. A common reaction is needed. The attack was also against NATO,” Celik told Turkish media.

Article 5 of the NATO treaty says an attack on one member is an attack on them all. The US State Department also condemned the attack, stating that it stands by its “NATO ally Turkey.” It further stated that it continues to “call for an immediate end to this despicable offensive by the Assad regime, Russia and Iranian-backed forces.” Never one to let us down, the US envoy to NATO Kay Bailey Hutchinson also told journalists that “everything is on the table.” However, it is unclear if NATO has the stamina to back Turkey in any meaningful way in a war against a Syrian government which is backed by Russian air power. It is also unclear if Article 5 extends to NATO allies when they have effectively invaded a foreign entity. In fact, even if no corporate media entity would willingly admit it, the nation defending itself in this specific set of facts is Syria – not Turkey.

That being said, Ankara has found a way to ensure that European nations do not flat-out ignore the situation. Just recently, Turkey reportedly opened up the Idlib border to allow an influx of Syrian refugees to flee to Europe, which will surely magnify regional tensions to a significant extent. Moscow has responded to the situation by highlighting Ankara’s relationship with the various jihadist entities in Syria. According to Russia’s Defense Ministry, the airstrike was carried out when the Syrian Army was repelling an offensive by Syria’s official al-Qaeda offshoot, Hayat Tahrir al-Sham, inside the Idlib “de-escalation zone.” Of course, anyone who has been paying attention to the war in Syria can appreciate that Ankara’s material and financial support for terrorist groups in Syria, including and especially Islamic State (IS, formerly ISIS/ISIL), has long been documented.

Read more …

Erdogan buys Russian anti-rocket systems, then asks NATO for support with air defense.

Greece Vetoes NATO Communique Intended to Support Turkey in Syria (GR)

Greece blocked the issuance of a joint communique from NATO on Friday night, intended to support Turkey in its war inside Syrian territory. According to Greece’s Kathimerini daily, which quotes Greek Foreign Ministry officials, Athens decided to block the joint NATO declaration because several of its members denied Greece’s demand to add a paragraph, which would have mentioned the issue of refugee and migrant influx from Turkey to Greece. According to this report, the USA, the UK, France, and Germany disagreed with Greece’s demand.


Meanwhile, Turkey asked NATO for additional support, particularly in its air defense in Syria. Most of the members of the North Atlantic alliance see this situation as an opportunity to bring Turkey closer to its allies in the West, pausing Ankara’s flirt with Russia. This was the reason why most of NATO’s ”big” players did not want to anger Turkey, by adding a clause that would mention immigration, particularly at a time when Ankara declares its inability to deal with approximately 4 million refugees and migrants currently in its territory.

Read more …

Greece has sent in the army to hold of some 13,000 migrants at the border. Either the EU acts now, or people are going to be killed.

Turkey Minister: 76,358 Migrants Headed To Border With Greece (K.)

Turkey’s Interior Minister Suleyman Soylu claims, in a Twitter post, that 76,358 migrants had passed through the border city of Edirne by Sunday morning on their way to the border crossing with Greece. “As of 09.55 hours, the number of immigrants leaving our country via Edirne is 76 thousand 358,” said Soylu, according to the Demiroren News Agency. Turkey has opened its borders for migrants to cross into the EU and has aided them by providing buses to Edirne.

Read more …

 

 

 

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


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

 

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

 

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

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

 

 

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

Numbers today:

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

 

 

 

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

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

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


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

Read more …

After closing the borders.

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

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

Read more …

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

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

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


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

Read more …

Starting to feel Turley is writing more than he should.

The GIGO Impeachment (Turley)

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

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

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

Read more …

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

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

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


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

Read more …

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

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

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


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

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

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

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


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

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

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

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

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

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

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

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

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


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

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

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

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

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

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

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

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

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

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


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

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

Seven In 10 Greeks Threatened By Poverty (K.)

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


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

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

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

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


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

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

Can We Have Prosperity Without Growth? (New Yorker)

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

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

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

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

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

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

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


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

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Please donate what you can.

 

Jan 312020
 
 January 31, 2020  Posted by at 10:50 am Finance Tagged with: , , , , , , , , , , , , , ,  37 Responses »


Walker Evans Waterfront in New Orleans. French market sidewalk scene 1935

 

WHO Declares International Health Emergency Over Coronavirus Outbreak (RT)
Spate Of Anti-Chinese Incidents In Italy As Two Cases Of Virus Confirmed (G.)
Hillary Clinton Refuses To Be Served Tulsi Gabbard’s Defamation Lawsuit (NYP)
Major Blow For Democrats At Trump Trial (BBC)
Warren Questions Roberts ‘Legitimacy’ Without Trial Witnesses (Fox)
Was The Bolton Leak Too Perfect? (Turley)
Simon & Schuster Won’t Back Down On John Bolton’s Memoir (NYP)
Steele Trump-Russia Dossier Was “Completely Fabricated” (SHTF)
UK Brings Down Curtain On EU Membership After 47 Years (Ind.)
Ambassador Warns That Trump Will Put US Firms First In UK Trade Talks (G.)
Welcome To The Trump Recession (Ind.)
Justice Department Drops Demand For Jail For Flynn (Turley)
Government and Media Are Prepping America for a Failed 2020 Election (Webb)
Greece Plans To Build Sea Barrier Off Lesbos To Deter Migrants (G.)

 

• 2019nCoV death toll rose from 170 to 213 today. (deaths over past seven days: 15, 15, 25, 25, 26, 38, 43)

• 9,821 confirmed cases worldwide, 98 abroad, the rest in China

• 25,060 probable cases

• 15,238 new suspected cases

• 102,427 Chinese under observation

• Recovered: 171

 

 

Jim Bianco posted these graphs tracking mortality and infections, respectively:

 

 

WHO is as late as China and the US. Maybe that’s why they’re complementing China: that way their own failure gets obscured.

WHO Declares International Health Emergency Over Coronavirus Outbreak (RT)

The World Health Organization has declared a “public health emergency of international concern” over the outbreak of the 2019nCoV, or the Wuhan coronavirus. The international body didn’t recommend travel and trade restrictions. WHO Director-General Tedros Adhanom Ghebreyesus called the coronavirus “a previously unknown pathogen, which has escalated into an unprecedented outbreak” at a press conference on Thursday, but said the WHO was not recommending restrictions of trade or travel with China, where the virus originated. Tedros pointed out that the declaration was “not a vote of no confidence in China,” but made out of concern for other countries, with “weaker” healthcare systems.


China’s response to the outbreak has been “very impressive,” the WHO chief added. “So is China’s commitment to transparency and to supporting other countries.” China is actually setting a new standard for outbreak response. While the majority of coronavirus cases have been registered in China, the WHO confirmed there were 98 confirmed cases elsewhere in the world – including eight cases of direct transmission in Germany, Japan, Vietnam and the US. The “vast majority” of cases outside of China have either traveled to Wuhan or been in contact with someone who has, the WHO officials noted. “The only way we will defeat this outbreak is for all countries to work together in a spirit of solidarity and cooperation,” Tedros said. “We are all in this together, and we can only stop it together.”

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Inevitable. Wait till the first people start dying in countries such as Italy.

Spate Of Anti-Chinese Incidents In Italy As Two Cases Of Virus Confirmed (G.)

Chinese people in Italy have been the target of racist abuse as paranoia mounts over the spread of the deadly coronavirus, as the first two cases of the virus were reported in Rome. Two Chinese tourists tested positive for the virus and are being treated at Rome’s Lazzari Spallanzani national institute for infectious diseases. The couple are reported to be from Wuhan and arrived in Milan on 23 January. The prime minister, Giuseppe Conte, said on Thursday night that there was “no reason for panic or alarm”. He added that close checks were being carried out trace the tourists’ movements in Italy in order “to absolutely avoid any additional risk”.

Flights between China and Italy have been stopped, Conte said. There have been several incidents of xenophobia and calls to avoid Chinese restaurants and shops amid the coronavirus outbreak. Roberto Giuliani, the director of the Santa Cecilia Conservatory, one of the oldest music institutes in the world, was criticised by colleagues on Wednesday after telling students from China, Japan and South Korea not to come to class until after a doctor visits their homes to ensure they have not contracted the virus. Similarly, another music institute in Como told students returning from China after the lunar new year to stay at home for 14 days.


Fears over coronavirus have affected Chinese populations in other countries too. On Wednesday the mayor of Toronto condemned racism against Chinese Canadians. There have also been reports of anti-Asian racism in the UK. In France, Chinese residents have been sharing their experiences using the hashtag #JeNeSuisPasUnVirus (I am not a virus). Other episodes reported in Italian media include two Chinese tourists being spat at by a group of children in Venice, and three Chinese tourists being insulted in a restaurant in Turin.

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Not unexpected. If Hillary would sue Tulsi, would her Secret Service detail do the same?

Hillary Clinton Refuses To Be Served Tulsi Gabbard’s Defamation Lawsuit (NYP)

Hillary Clinton has now twice snubbed a process server attempting to deliver the defamation lawsuit filed against her by Democratic presidential candidate Tulsi Gabbard, according to Gabbard’s attorney. “I find it rather unbelievable that Hillary Clinton is so intimidated by Tulsi Gabbard that she won’t accept service of process,” the congresswoman’s attorney, Brian Dunne, told The Post. “But I guess here we are.” Dunne said their process server first attempted to effect service at Clinton’s house in Chappaqua on Tuesday afternoon — but was turned away by Secret Service agents.


The agents directed the server to Clinton’s lawyer, David Kendall, who on Wednesday claimed at his Washington, DC, firm, Williams & Connolly, that he was unable to accept service on Clinton’s behalf, said Dunne. Gabbard sued the former secretary of state for $50 million last week for calling her a “Russian asset.” Clinton has refused to retract the statement. Dunne said his team was weighing next steps.

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Schiff will carry this straight into the election. But they have to find a viable candidate. Schiff, Hillary, Bloomberg?

Major Blow For Democrats At Trump Trial (BBC)

US Democrats have been dealt a major blow in their efforts to call witnesses at President Trump’s impeachment trial. They needed four Republicans to vote with them to allow witness testimony, but one of the few wavering senators said he would not support the measure. Lamar Alexander said the Democrats had proved Mr Trump acted inappropriately but it was not an impeachable offence. The announcement paves the way for the possible acquittal of the president by the Senate as early as Friday. The Democrats had especially wanted to call former National Security Adviser John Bolton who reportedly said Mr Trump told him directly that he was withholding US military aid to Ukraine until it agreed to investigate his rival, Joe Biden.

In a statement late on Thursday after a long question-and-answer session at the Senate, Mr Alexander, who represents Tennessee, said the Democrats had proven that Mr Trump’s actions were “inappropriate”. But the 79-year-old said: “There is no need for more evidence to prove something that has already been proven and that does not meet the United States Constitution’s high bar for an impeachable offence.” He added: “The question then is not whether the president did it, but whether the United States Senate or the American people should decide what to do about what he did. I believe that the Constitution provides that the people should make that decision in the presidential election that begins in Iowa on Monday.”


[..] Each side is expected to present closing arguments in Friday’s session, before the Senate votes on hearing witnesses. If the vote were to end in a tie, it would mean that the motion had failed unless US Supreme Court Chief Justice John Roberts, who is presiding over the trial, decided to break it, which is unlikely.

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A pivotal moment yesterday for me: Roberts reads question that says some claim Trump didn’t pay Giuliani, so who did? Schiff comes on, says he doesn’t know, but still takes the full 5(?) minutes to repeat for the 1000th time his schtick about Ukraine.

Warren Questions Roberts ‘Legitimacy’ Without Trial Witnesses (Fox)

Chief Justice John Roberts seemed visibly irritated when Sen. Elizabeth Warren, D-Mass., formally asked a question during President Trump’s impeachment trial Thursday that referenced him and questioned the legitimacy of the Supreme Court and Constitution in relation to the proceedings. In accordance with Senate rules, the chief justice of the United States must read aloud the questions posed by senators to the impeachment managers and the president’s counsel. Roberts formally recognized Warren, a Democratic presidential candidate, who then submitted her written question to a clerk. Roberts read her question from the card — which referenced him.

“At a time when large majorities of Americans have lost faith in government, does the fact that the chief justice is presiding over an impeachment trial in which Republican senators have thus far refused to allow witnesses or evidence contribute to the loss of legitimacy of the chief justice, the Supreme Court, and the Constitution?” Roberts read from the card handed to him by the clerk. When he finished reading the question — explicitly posed to the House Impeachment managers — Roberts pursed his lips and shot a chagrined look.


After a moment, Rep. Adam Schiff, D-Calif., the lead impeachment manager, appeared at the dais to answer the question — standing mere feet in front of Roberts. Schiff appeared to try to distance himself from Warren’s question, offering a short answer to the question before speaking at length about a tangential exchange. “I would not say that it leads to a loss of confidence in the chief justice,” Schiff said, adding that Roberts has thus far “presided admirably.”

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Nice take: ” It felt like the sudden discovery of a gun near the victim at the scene of a police shooting.”

Was The Bolton Leak Too Perfect? (Turley)

It was the seeming Perry Mason moment of President Trump’s impeachment trial. Just after the White House team presented its defense denying any quid pro quo over Ukrainian aid, former national security adviser John Bolton jumped up from the gallery to scream, “He did it!” Not really, but close. A few hours after the start of the president’s defense, details from Bolton’s forthcoming book leaked, including his account of Trump asserting that $391 million in military aid would be withheld until Ukraine announced investigations into the 2016 election and the Bidens. If that seems a tad contrived for either an episode or an impeachment, that is because it is.

In responding to a defense built around Trump’s insistence that his call was “perfect,” this leak was perfect to a fault. Perfect timing. Perfect content. It was so perfect that there is little doubt that the Senate is being played. The leak happened at the exact time that it would inflict the most damage on the defense and throw the trial into disarray. It occurred hours after the White House team gave opening statements that seriously undermined critical points made by the House managers, including the assertions that Trump never previously raised corruption in other countries or that this type of hold on aid was uncommon. It felt like the sudden discovery of a gun near the victim at the scene of a police shooting.

That does not mean the leak will not succeed. The disclosure about Bolton’s book could well make the difference in securing the four Republican votes needed to obtain witnesses. But it could also succeed too well if it leads senators to plunge into the unknown of calling witnesses such as former vice president Joe Biden or his son Hunter. There are already indications that the leak may have secured the four votes for witnesses, while even Sen. Lindsey O. Graham (R-S.C.) has said the Senate may need to subpoena the book draft itself.

[..] Trump has never denied asking for the investigations, but insisted that they were meant to deal with his concerns over ongoing corruption in Ukraine. Moreover, the first of the two investigations could not be a basis for impeachment. Trump asked for assistance in investigating allegations into the 2016 election — matters that were currently being investigated by U.S. Attorney John Durham. It is the Biden investigation that raises legitimate questions, but it comes down again to a question of intent. Finally, the leak refers to the freeze on the funds but does not indicate that Trump was prepared to hold the aid past the deadline at the end of September. (It was released on September 11th.).

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It has lost all relevance though. Good luck.

Simon & Schuster Won’t Back Down On John Bolton’s Memoir (NYP)

Despite the uproar surrounding John Bolton’s new memoir, publisher Simon & Schuster is standing firm on its intended March 17 publication date. An S&S spokesman declined to make an official statement amid blowback from President Donald Trump, saying only that there is “no change” in the publication date for “The Room Where it Happened.” Trump has called for his former national security adviser’s memoir to be blocked, claiming that it contains classified material.


The yet-to-be-published manuscript played a central role in Senate impeachment discussions this week after the New York Times late Sunday reported that Bolton’s claims that Trump told him in August 2019 that he was withholding $391 million in aid to Ukraine until he had a promise that the powers that be there would launch investigations into Joe Biden, whose son had ties to Ukraine. Trump on Monday denied he said it. “If John Bolton said this, it was only to sell a book,” he said. Bolton lawyer Charles Cooper said he does not believe “The Room Where It Happened” contains classified material but is pushing for an expeditious decision from the National Security Council on its content — even as it remains possible for Bolton to be called to testify in the Senate impeachment trial.

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I forgot to include this in earlier Debt Rattles, but it should be read. We must wonder, and investigate, how the dossier became the pillar on which Russiagate rested when it was such obvious nonsense.

“Some of the most glaring mistakes were those such as treating one particular source as an expert in three entirely different fields or making up the existence of the Russian consulate in Miami, Florida. The source in question starts out as a middle-manager at the Ritz-Carlton in Moscow, but is later described as an expert on cyber warfare, and later yet as an expert on money-laundering by Russian immigrants in the US, West explained.”

Steele Trump-Russia Dossier Was “Completely Fabricated” (SHTF)

In some not so surprising news, a spy expert has come out saying what most of us already knew: the Steele dossier was completely “fabricated.” Nigel West, one of Britain’s leading experts on espionage, was hired to examine the dossier written by his friend Christopher Steele. He concluded it was all manufactured falsehoods. West, hired to examine the dossier back in 2017, quickly concluded that “there is… a strong possibility that all Steele’s material has been fabricated,” according to the Sunday Times. “Steele’s scandalous document, which claimed extensive ties between the then-US President-elect Donald Trump and the Kremlin, was published by BuzzFeed in January 2017 and quickly became the cornerstone of “Russiagate.” Media talking heads insisted that much of it had been corroborated. In fact, nothing was.” –RT

It took West a long time to come out with the information that the dossier was an utter fabrication. It isn’t clear why he waited so long to reveal what most already knew anyway. Even the FBI director at the time, James Comey, described the dossier as“salacious and unverified” in testimony to Congress. But the fact that this dossier was “unverified” did not stop Comey from signing an application for a FISA warrant that the Bureau used to spy on the Trump campaign via one of its advisers, Carter Page. Steele himself was paid purely above-board, of course: by Fusion GPS, which was a client of the law firm Perkins Coie LLP, on behalf of the Democratic National Committee, at the direction of Hillary Clinton’s presidential campaign.


West told RT that he was surprised Steele made such obvious errors in the dossier. Some of the most glaring mistakes were those such as treating one particular source as an expert in three entirely different fields or making up the existence of the Russian consulate in Miami, Florida. The source in question starts out as a middle-manager at the Ritz-Carlton in Moscow, but is later described as an expert on cyber warfare, and later yet as an expert on money-laundering by Russian immigrants in the US, West explained. “On the face of it, it looked inherently improbable that this single source was as proclaimed.”

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Hardly any celebrations. What happened?

“A light display beamed onto the frontage of No 10 will be visible only to a few journalists and security staff inside the black gates of Downing Street. And a pre-recorded video message risked going unseen by TV viewers, due to a spat with broadcasters”

UK Brings Down Curtain On EU Membership After 47 Years (Ind.)

Britain brings down the curtain on 47 years of European Union membership on Friday with little in the way of official ceremony to mark the historic moment. Some 1,317 days after the 2016 referendum vote to Leave, the formal departure from the 28-nation bloc will take place at 11pm UK time – midnight in Brussels. Boris Johnson, who served as the figurehead of the Vote Leave campaign and last Friday signed the withdrawal treaty after its passage through parliament, said the day would signal “the dawn of a new era”. But Labour leader Jeremy Corbyn said that the country stood at “a crossroads” with many of the most important decisions about its future relations with the EU and the wider world yet to be made.

And Nicola Sturgeon, the Scottish first minister, is expected to say that Scotland is being taken out of the EU against the wishes of the “overwhelming majority” of its people, in a speech setting out the next steps in her battle for an independence referendum. Downing Street made clear the prime minister will not be making any public appearance to celebrate the moment of withdrawal. After chairing cabinet in Sunderland – the city whose vote for Brexit was the first sign of Leave’s victory on referendum night – the prime minister will return to London to attend an evening reception with staff behind closed doors. A light display beamed onto the frontage of No 10 will be visible only to a few journalists and security staff inside the black gates of Downing Street.


And a pre-recorded video message risked going unseen by TV viewers, due to a spat with broadcasters who objected to No 10’s insistence of filming the footage itself rather than following the normal practice of inviting in a pool camera from one of the television companies.

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Who could have predicted that?

Ambassador Warns That Trump Will Put US Firms First In UK Trade Talks (G.)

Donald Trump will put the interests of corporate America first and demand that the NHS pays higher prices for US drugs in a free-trade deal with the UK, the outgoing British ambassador to Washington has told the Guardian. Kim Darroch, in his first interview since his resignation from his post in July, from where he spearheaded attempts to grow trade with the US, insisted that Trump would reward his backers in drug firms and farming communities by opening up British markets, while questioning where the UK’s gains would be found. The former British envoy, who left Washington after a leak of his confidential cables to London, said it was doubtful whether the UK had the resources for parallel negotiations with the US and the EU, a strategy championed by Downing Street as a way to give British negotiators leverage in Brussels.


Darroch, who said that similar warnings on the US’s trade demands had been made to No 10 during his tenure in Washington DC, also said it was “impossible” for a deal to get through Congress by the end of 2020 and that it appeared to be “a narrow and rocky path to get to where they [the UK government] want to be”. He said: “I know what the US will be pitching for when they negotiate a free-trade deal with us. They will pitch for massively greater access for agricultural products. People talk about chlorinated chicken – it is a lot more than that. Farmers in America vote for Trump, pretty much all of them vote for Trump … “They also want us to pay the same for American pharmaceuticals as they pay in their own market. Do they want us to pay more for their pharmaceuticals? Do the pharmaceutical companies want to use this leverage? Of course they do.”

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Dems’ final weapon? For now the article feels contrived.

Welcome To The Trump Recession (Ind.)

Donald Trump won’t have to run his re-election campaign amid a 2020 recession — but numbers now emerging are bad enough, and their shape is bad enough, to show he won’t be running a Morning in America campaign either. New government data Thursday showed the economy’s GDP grew at a 2.1 per cent annual rate in the fourth quarter — the second straight quarter at that tepid number, closing out the weakest year of Trump’s presidency. Worse, the slowdown is aimed straight at Trump’s base, including a decent-sized manufacturing recession. It’s based directly on the failure of Trump’s policies. And the details belie the idea, popular in Washington, that consumer confidence is high and that such confidence begets confidence in the president.

Let’s walk through this fairly complicated argument one step at a time. First, the economy really didn’t do well in the last nine months of 2019, even if the stock market thinks it did. Thursday’s report marks the third straight quarter where the economy grew at 2.1 per cent or less, since the second quarter of the year saw only 2.0 per cent growth. Forecasts for the first half of 2020 are a little worse: Consulting firm IHS Markit expects first-quarter growth at a 2 per cent annual rate, and High Frequency Economics thinks it could go as low as 1.2 per cent as Boeing attempts to solve its 737 Max safety issues. “Welcome to 2016, when it was one quarter after another of roughly 2 per cent growth,” said Joel Naroff, president of Naroff Economic Advisors.


“We have had three consecutive quarters right about that level. And sifting through the data, there is no reason to think that will change significantly in one direction or the other.’’ The details, though, are nastier than headline numbers. Consumer spending grew only 1.8 per cent annualized, down from 3.2 per cent in the third quarter — which Naroff attributes to slowing income gains. Private investment — investment was supposed to surge because of a 2017 tax cut focused on corporations and small business owners — was down 6.1 per cent. Imports were way down — which propped up short-term growth, given the technical details of how economists measure growth. But exports of manufactured goods were also down.

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They got scared. Time for Sidney Powell to go into full attack mode. Go after Comey, McCabe, Strzok.

Justice Department Drops Demand For Jail For Flynn (Turley)

The Department of Justice has dropped its demand for former National Security Adviser Michael Flynn to serve time under his plea agreement. Flynn was attempting to withdraw his plea after the Justice Department set out in what was an overtly vindictive campaign against him in court. The Flynn case remains a troubling matter for those who have followed the Russian investigation. He pleaded guilty to a false statement that seems relatively minor in comparison to false statements made by Justice officials like Andrew McCabe or leaks by figures like James Comey. Only a few weeks ago, the Justice Department was demanding up to six weeks of jail time. Some of us have questioned the case for years. Prosecutors threatened to go after Flynn’s son and to bankrupt him if he continuing to assert his innocence. Flynn broke with his prior lawyers and accused them of giving him poor advice.


He now maintains that he did not lie to two FBI agents in 2017. His recent filings slam the process and the charges. He wrote “One of the ways a person becomes a 3-star general is by being a good soldier, taking orders, being part of a team, and trusting the people who provide information and support. Lori and I trusted Mr. Kelner and Mr. Anthony to guide us through the most stressful experience in our lives, in a completely incomprehensible situation. I have never felt more powerless.” The position of the Justice Department seemed wholly at odds with other cases, including the light sentences received by individuals sentenced as part of the Russian investigation. He was also the subject of a bizarre hearing with Judge Emmet Sullivan where he was accused of things outside of his charges or the record. He is due to be sentenced on Feb. 27.

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US intelligence has taken over, writes Whitney Webb.

Government and Media Are Prepping America for a Failed 2020 Election (Webb)

[..] what is particularly odd about this narrative surrounding imminent “chaos” and meddling in the upcoming 2020 election is the fact that, not only have the instruments of said meddling been named and described in detail, but their use in the election was recently simulated by a company with deep ties to both U.S. and Israeli intelligence. That simulation, organized and run by the Israeli-American company Cybereason, ended with scores of Americans dead, the cancellation of the 2020 election, the imposition of martial law and a spike in fear among the American populace.

Many of the technologies used to create that chaotic and horrific scenario in the Cybereason simulation are the very same technologies that U.S. federal officials and corporate media outlets have promoted as the core of the very toolkit that they claim will be used to undermine the coming election, such as deep fakes and hacks of critical infrastructure, consumer devices and even vehicles.


While the narrative in place has already laid the blame at the feet of U.S. rival states China, Russia and Iran, these very technologies are instead dominated by companies that are tied to the very same intelligence agencies as Cybereason, specifically Israeli military intelligence. With intelligence agencies in the U.S. and Israel not only crafting the narrative about 2020 foreign meddling, but also dominating these technologies and simulating their use to upend the coming election, it becomes crucial to consider the motivations behind this narrative and if these intelligence agencies have ulterior motives in promoting and simulating such outcomes that would effectively end American democracy and hand almost total power to the national security state.

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They’ll simply use another route, another island.

Greece Plans To Build Sea Barrier Off Lesbos To Deter Migrants (G.)

The Greek government has been criticised after announcing it will build a floating barrier to deter thousands of people from making often perilous sea journeys from Turkey to Aegean islands on Europe’s periphery. The centre-right administration unveiled the measure on Thursday, following its pledge to take a tougher stance on undocumented migrants accessing the country. The 2.7km-long netted barrier will be erected off Lesbos, the island that shot to prominence at the height of the Syrian civil war when close to a million Europe-bound refugees landed on its beaches. The bulwark will rise from pylons 50 metres above water and will be equipped with flashing lights to demarcate Greece’s sea borders.

Greece’s defence minister, Nikos Panagiotopoulos, told Skai radio: “In Evros, natural barriers had relative [good] results in containing flows,” referring to the barbed-wire topped fence that Greece built along its northern land border with Turkey in 2012 to deter asylum seekers. “We believe a similar result can be had with these floating barriers. We are trying to find solutions to reduce flows.” Amnesty International slammed the plan, warning it would enhance the dangers asylum-seekers and refugees encountered as they attempted to seek safety.


“This proposal marks an alarming escalation in the Greek government’s ongoing efforts to make it as difficult as possible for asylum-seekers and refugees to arrive on its shores,” said Massimo Moratti, the group’s Research Director for Europe.“The plan raises serious issues about rescuers’ ability to continue providing life-saving assistance to people attempting the dangerous sea crossing to Lesbos. The government must urgently clarify the operational details and necessary safeguards to ensure that this system does not cost further lives.”

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Include the Automatic Earth in your 2020 charity list. Support us on Paypal and Patreon.

 

Nov 252019
 
 November 25, 2019  Posted by at 9:49 am Finance Tagged with: , , , , , , , , ,  17 Responses »


Dorothea Lange Resettlement project, Bosque Farms, New Mexico Dec 1935

 

China Needs To Prepare For Zero Interest Rates (Global Times)
China Will Be The Next Country To Cut Rates To Zero (ZH)
Hong Kong Pro-Democracy Candidates Win 347 of 452 Seats (SCMP)
China Cables (Irish Times)
Both UK Parties Are Peddling Fantasies – Tony Blair (R.)
Why Did Trump Release Ukraine Aid? The Answer Is Simple (York)
John Solomon: They ‘Smeared Me, Just Like Joe McCarthy Smeared People’ (Med.)
Stop Being A Loser And Start Winning Like Trump (Scott Adams)
I Ditched Google For DuckDuckGo. Here’s Why You Should Too (Wired)
Doctors Petition UK Home Secretary Over Julian Assange (CN)
Aid Groups Condemn Greece Over ‘Prison’ Camps For Migrants, Refugees (G.)

 

 

China has a debt problem. “Zero or negative rates monetary conditions don’t mean that debt issues and the asset bubble problem will be resolved automatically, but the opposite..”

China Needs To Prepare For Zero Interest Rates (Global Times)

The US Federal Reserve’s (Fed) continuous interest rates cuts have triggered a race of interest rates cuts among central banks around the world, increasing excessive global liquidity even further. In this case, more countries are faced with monetary conditions of zero or negative rates. Recently, former US Fed chairman Alan Greenspan noted that “negative rates” are spreading around the world. Some financial institutions even believe the world will enter a low rates condition that hasn’t occurred in 1,000 years. Under the condition of low or zero rates, the world’s debts level keeps rising, and the bond yields continue dropping. Another phenomenon comes with low rates monetary condition is that prices go up with risk asset. The US stock prices have climbed to a new high.

For China, the demands for liquidity are growing, foreign capital keeps flowing in and the real economy continues to slow down, which all make the country seemingly approaching a zero rates monetary condition. It asks policymakers and market players to be prepared. Mounting debts and the financing problems in the real economy will promote China to a zero rate condition. In the first half of 2019, China’s overall debts accounted for 306 percent of the GDP, up 2 percentage points from the 304 percent in the first quarter, according to a report from the Institute of International Finance (IIF). The number was just around 200 percent in 2009 and 130 percent in 1999.

According to data from the National Institution for Finance and Development, China’s enterprise sector’s debts account for 155.7 percent of the nominal GDP, up 2.2 percentage points from the end of last year. It’s far beyond the government sector’s leverage ratio of 38.5 percent and the resident sector’s leverage ratio of 55.3 percent. In the enterprise sector, private companies embattled with financing problems account for 30 percent. Structurally, China’s non-financial corporate debt ratio is too high, and interest rates are too high. Considering that the repayment burden of existing debt has squeezed out the effective demand for new credit, and China is likely to become the next zero interest rate country, according to Zhu Haibin, Chief China Economist at J.P. Morgan.

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Tyler’s take on the article above: “..it will only infuriate Trump who has been kicking and screaming at Jerome Powell, demanding that the Fed do just that.”

China Will Be The Next Country To Cut Rates To Zero (ZH)

[..] an English language op-ed published today in China’s nationalist tabloid, Global Times, which for once, is surprisingly accurate, and while mostly avoiding the propaganda that Chinese media is so well known for, explains well why China may indeed be the next country to see zero rates (as a reminder, Chinese real rates are already negative due to soaring pork prices). And while we doubt that the PBOC will be able to cut enough to bring about ZIRP, or NIRP, any time soon especially due to the ongoing hyperinflation in pork prices, if and when those do stabilize the Chinese central bank may well follow in the footsteps of every other developed central bank. In doing so, it will only infuriate Trump who has been kicking and screaming at Jerome Powell, demanding that the Fed do just that.

What we find most remarkable about the op-ed is how simply, matter-of-factly and correctly, the author explains away why zero rates are coming: “Mounting debts and the financing problems in the real economy will promote China to a zero rate condition [..] Structurally, China’s non-financial corporate debt ratio is too high, and interest rates are too high. Considering that the repayment burden of existing debt has squeezed out the effective demand for new credit, and China is likely to become the next zero interest rate country”. Amusingly, the anonymous op-ed writer has managed to state in two sentences what takes financial pundits hours, days and weeks to explain on CNBC: “Another phenomenon comes with low rates monetary condition is that prices go up with risk asset. The US stock prices have climbed to a new high.”

That said, what we found most surprising about the Global Times oped is its conclusion: instead of some jingoist bullshit about how China’s negative rates would be the greatest, and most negative in the entire world, the publication takes a very measured tone, and warns that such a monetary stance may very well spell doom for China, to wit: “Zero or negative rates monetary conditions don’t mean that debt issues and the asset bubble problem will be resolved automatically, but the opposite. Growing bubbles in the global financial market in the long run will be a reminder of financial risks. In a slowing global economy, zero or even negative interest monetary conditions are a new trend that gives new risks and challenges to China and the international financial market. Awareness and responsiveness need to be revamped.”

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Pro-democracy camp wins 17 out of 18 district councils, all of which were previously under pro-establishment control. Record voter turnout.

Beijing really thought its candidates would win?

Hong Kong Pro-Democracy Candidates Win 347 of 452 Seats (SCMP)

The anti-establishment reverberations from almost six months of street protests swept through polling stations across Hong Kong on Sunday, as voters in record numbers roundly rejected pro-Beijing candidates in favour of pan-democrats. The tsunami of disaffection among voters was clear across the board, as pan-democrats rode the wave to win big in poor and rich neighbourhoods, in both protest-prone and non-protest-afflicted districts and, in downtown areas as well as the suburbs. Less immediately obvious was whether there was a generational divide in the way people voted, but ousted pro-establishment district councillors suggested that young, first-time voters had been instrumental in dislodging them from their perch.


The final election results were confirmed at 1pm on Monday when the vote count was completed at Lam Tin constituency of Kwun Tong District Council. Among the 452 seats up for grabs, the pan-democrats were victorious in 347, the independents – many of them pro-democracy – won 45, while the pro-establishment camp had to make do with 60. The pro-democracy camp now has control of 17 out of 18 district councils. It won all elected seats in Wong Tai Sin and Tai Po district councils.

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The Irish Times publishes 9 articles based on “a small cache of secret documents, being called the China Cables, that were leaked to the International Consortium of Investigative Journalists (ICIJ)”.

This is from the first article: “‘The largest incarceration of a minority since the Holocaust’”. Click the link for the ‘library’.

Yves Smith: “The Irish Times did terrific additional reporting on the ICIJ docs. Must reading.”

China Cables (Irish Times)

Dormitory doors, corridor doors, and floor doors must be double-locked, and must be locked immediately after being opened and closed.” “Strictly manage and control student activities to prevent escapes during class, eating periods, toilet breaks, bath time, medical treatment, family visits, etc.” The quotes are from instructions issued by a top security official in the Xinjiang province of China, where since 2017 more than a million people from Uighur and other ethnic minority groups are being kept in camps. The Chinese authorities, who at first denied the camps existed, then said they were there to provide “educational training” to “students” in centres that had a “boarding school” type of management. “It is strictly forbidden for police to enter the student zone with guns, and they must never allow escapes, never allow trouble, never allow attacks on staff, never allow abnormal deaths.”

Contained in a telegram called “New Secret 5656”, the instructions were written in 2017, when the policy of incarcerating people from ethnic minorities in Xinjiang was being put into effect on an industrial scale. The telegram is among a small cache of secret documents, being called the China Cables, that were leaked to the International Consortium of Investigative Journalists (ICIJ), and have been shared with 17 media partners, including The Irish Times, the BBC, Le Monde, Süddeutsche Zeitung and the US TV network, NBC. The leak puts to rest attempts by the Chinese government to portray the facilities in the western province of Xinjiang as anything other than internment camps.

Adrian Zenz, a recognised authority on what is happening in Xinjiang, told the ICIJ he believes the reference in the instructions to not allowing “abnormal deaths” has to do with torture. The telegram does not mention torture, “but the fact that it mentions the avoidance of abnormal deaths, in my opinion, is an indication that [the camp system] is using forms of physical force on people that, however, is not supposed to kill them.” People are being put in chain-suits, are being made stand in certain positions, and are being beaten, said Zenz. Other harsher forms of torture are being meted out in prisons and detention centres.

In October a former detainee, Sayragul Sauytbay, a muslim of Kazakh descent who has been granted asylum in Sweden, told Israeli newspaper Haaretz that some inmates were made sit on a chair of nails. “I saw people return from that room covered in blood. Some came back without fingernails.” The “special secrecy level” instructions in the telegram were issued by Zhu Hailun, the then head of the Chinese Communist Party’s Political and Legal Commission (PLC) in Xinjiang, and the senior party official then responsible for the implementation of the campaign of repression in Xinjiang.

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Blair’s attacking Corbyn until he loses.

Both UK Parties Are Peddling Fantasies – Tony Blair (R.)

Prime Minister Boris Johnson and Labour leader Jeremy Corbyn are peddling fantasies before a Dec. 12 election, former British leader Tony Blair will say on Monday, offering his support to “mainstream” politicians. At a newsmaker event at Reuters, Blair will criticise Britain’s main parties for offering voters a stark choice, wanting to win “on the basis that whatever your dislike of what they’re offering, the alternative is worse”. Held after three years of negotiations to leave the European Union since a 2016 referendum, the December election will show how far Brexit has torn traditional political allegiances apart and will test an electorate increasingly tired of voting.


Blair, who was prime minister for 10 years until 2007, will say many in Britain are “scratching their heads, changing their minds, floating and unsure” before the election. “The unifying sentiment is a desire, bordering on the febrile, to end the mess, to wake from the nightmare,” he will say, according to extracts from his speech. “This desire, though completely understandable, is in danger of leading us into a big mistake; and frankly we cannot afford another of those.” Blair will accuse both parties of offering up a fantasy to voters – the Conservatives suggesting they will get Brexit done when the reality is that they will start new talks on a future relationship which “could last for years”. Equally, he will say that Labour, under veteran socialist Corbyn, is offering a “revolution”. “The problem with revolutions is never how they begin but how they end.”

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“President tries to do something. Congress opposes. President sees he has no support and backs down. It has happened many, many times with many, many presidents.”

Why Did Trump Release Ukraine Aid? The Answer Is Simple (York)

Trump’s true reason for releasing the aid matters to the Democratic impeachment scheme. If he released the money after learning about the whistleblower — after he realized the jig was up — then that, at least to Democrats, suggests guilt. If he released it after gaining confidence in Zelensky, that does not suggest guilt. But the evidence suggests that neither explanation is correct, that there is a much simpler reason for Trump’s decision to release the aid. On the day he OK’d the aid, Trump learned that Congress was going to force his hand and spend the money anyway. He could either go along or get run over.

On Sept. 11, the White House received a draft of a continuing resolution, produced by House Democrats, that would extend funding for the federal government. Among other provisions, the bill would push the Ukraine money out the door, whether in the final days of fiscal year 2019 or in 2020, regardless of what the president did. “The draft continuing resolution … would on September 30 immediately free up the remainder of the $250 million appropriated for the Ukraine Security Assistance Initiative in the fiscal 2019 Defense spending law and extend its availability for another year,” Roll Call reported a little after noon on Sept. 11.

According to knowledgeable sources, the Office of Management and Budget received the draft on the morning of Sept. 11. OMB Director Russell Vought informed the president around mid-day. There was no doubt the Democratic-controlled House would pass the measure, which was needed to avoid a government shutdown. Later that afternoon, Trump — who must have already known that the Republican-controlled Senate would also support the bill — had the point emphasized to him when he received a call from Republican Sen. Rob Portman.

Portman, and Democratic Sen. Richard Durbin co-chairs the Senate Ukraine Caucus. Along with several other senators, Portman wrote to the White House on Sept. 3, imploring the president to release the aid. On Sept. 11, Portman felt the need to talk again, with the same message — only this time with the backdrop of the House preparing to pass a bill that would force Trump’s hand. At that point, the president knew he could not maintain the hold on aid in the face of bipartisan congressional action. So he gave in. By early evening on Sept. 11, the hold was lifted. It was an entirely unremarkable end to the story: President tries to do something. Congress opposes. President sees he has no support and backs down. It has happened many, many times with many, many presidents.

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Video at the link. Still trying to understand why he has so suddenly come under attack. He had been writing about this for a long time.

“The message was clear: Don’t touch these people,” Solomon said. “And the State Department confirms they delivered that message. How can this be such a big factual dispute? Now we’re debating the word list. She delivered the message.”

John Solomon: They ‘Smeared Me, Just Like Joe McCarthy Smeared People’ (Med.)

After coming under a great deal of scrutiny during the House Intelligence committee’s impeachment hearings over the past two week’s, Fox News contributor John Solomon is firing back — claiming that he was smeared. Solomon sat for an interview Thursday night with Fox News anchor Martha MacCallum on The Story. The segment marked a rare appearance on a news side program for the Fox News contributor — as opposed to the opinion shows like Hannity on which he is a staple. During the interview, Solomon — a former columnist for the Hill whose controversial work on Ukraine is now being subjected to an internal review — claimed he’s being targeted because much of his reporting is favorable to President Donald Trump.


“I’m probably being punished a lot because the president’s mentioned me, he likes my reporting,” Solomon said. “But I don’t report because it makes the president happy. I report because the truth needs to get out there.” MacCallum asked Solomon about the claims made by former U.S. ambassador to Ukraine Marie Yovanovitch that she was the target of a smear campaign led by a former top Ukraine prosecutor and Rudy Giuliani — with Solomon and several conservative media figures circulating negative stories about her. In particular, one article in which Solomon claimed that Yovanovitch pressured Ukraine into not prosecuting a number of people. Solomon stood by his work. “The message was clear: Don’t touch these people,” Solomon said. “And the State Department confirms they delivered that message. How can this be such a big factual dispute? Now we’re debating the word list. She delivered the message.”

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Adams is promoting his new book, Loserthink.

“..the two most influential politicians in the United States: [..] President Trump and New York Rep. Alexandria Ocasio-Cortez..”

Stop Being A Loser And Start Winning Like Trump (Scott Adams)

At the time of this writing, the two most influential politicians in the United States are a real estate developer who became president and a bartender who got elected to Congress. I’m talking about President Trump and New York Rep. Alexandria Ocasio-Cortez. The most striking thing they have in common is that they did not “stay in their lanes,” and it worked out great for them. Likewise, you would not be reading this, and the “Dilbert” comic strip would not exist, if I had “stayed in my lane,” which at the time meant working in a cubicle. My nomination for the most loserthinkish advice in history is: “Stay in your lane.” That is the sort of advice that is better served to an enemy, not a friend. If everyone followed that advice, you wouldn’t have civilization.

The world as we know it was engineered, designed, and built by people who left their lane and tried something outside their temporary skill stack. They figured it out as they went. I’ll agree that one size doesn’t fit all, and some people probably should stick to what they do best. But I wouldn’t want society to decide that staying in one lane is some sort of obvious wisdom. In my experience, the smartest plan for life is to leave your lane as often as you can (without inviting major risk) to pick up skills that will complement your talent stack. The more skills you have, the more valuable you will be, although you won’t necessarily know in advance where it will take you.

If you happen to be one of the best in the world at some specific skill, such as sports, music, or science — and you like what you do — it might make perfect sense to “stay in your lane” and milk that situation for all it is worth. But most of us are not the best in the world, or anywhere near it, at any particular skill. If that describes you, I recommend leaving your lane often — even at the risk of embarrassment — to pick up new skills and new ways to see the world.

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DuckDuckGo does not store IP addresses or user information.

I Ditched Google For DuckDuckGo. Here’s Why You Should Too (Wired)

What was the last thing you searched for online? For me, it was ‘$120 in pounds’. Before that, I wanted to know the capital of Albania (Tirana), the Twitter handle of Liberal Democrat deputy leader Ed Davey (he’s @EdwardJDavey) and dates of bank holidays in the UK for 2019 (it’s a late Easter next year, folks). Thrilling, I’m sure you’ll agree. But something makes these searches, in internet terms, a bit unusual. Shock, horror, I didn’t use Google. I used DuckDuckGo. And, after two years in the wilderness, I’m pretty sure I’m sold on a post-Google future. It all started with a realisation: most the things I search for are easy to find. Did I really need the all-seeing, all-knowing algorithms of Google to assist me? Probably not.

So I made a simple change: I opened up Firefox on my Android phone and switched Google search for DuckDuckGo. As a result, I’ve had a fairly tedious but important revelation: I search for really obvious stuff. Google’s own data backs this up. Its annual round-up of the most searched-for terms is basically a list of names and events: World Cup, Avicii, Mac Miller, Stan Lee, Black Panther, Megan Markle. The list goes on. And I don’t need to buy into Google’s leviathan network of privacy-invading trackers to find out what Black Panther is and when I can go and see it at my local cinema.

While I continue to use Google at work (more out of necessity as my employer runs on G-Suite), on my phone I’m all about DuckDuckGo. I had, based on zero evidence, convinced myself that finding things on the internet was hard and, inevitably, involved a fair amount of tracking. After two years of not being tracked and targeted I have slowly come to realise that this is nonsense. DuckDuckGo works in broadly the same way as any other search engine, Google included. It combines data from hundreds of sources including Wolfram Alpha, Wikipedia and Bing, with its own web crawler, to surface the most relevant results. Google does exactly the same, albeit on a somewhat larger scale. The key difference: DuckDuckGo does not store IP addresses or user information.

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A letter signed by 60 medical doctors from around the world: “Medical doctors have a professional duty to report suspected torture of which they become aware, wherever it may be occurring.”

They will be ignored.

Doctors Petition UK Home Secretary Over Julian Assange (CN)

Open Letter to UK Home Secretary Priti Patel and Shadow Home Secretary Diane Abbott

We write this open letter, as medical doctors, to express our serious concerns about the physical and mental health of Julian Assange. Our professional concerns follow publication recently of the harrowing eyewitness accounts of Craig Murray and John Pilger of the case management hearing on Monday 21 October 2019 at Westminster Magistrates Court. The hearing related to the upcoming February 2020 hearing of the request by the US government for Mr Assange’s extradition to the US in relation to his work as a publisher of information, including information about alleged crimes of the US government. Our concerns were further heightened by the publication on 1 November 2019 of a further report of Nils Melzer, the United Nations Special Rapporteur on Torture and Other Cruel, Inhuman or Degrading Treatment or Punishment, in which he stated: ‘Unless the UK urgently changes course and alleviates his inhumane situation, Mr Assange’s continued exposure to arbitrariness and abuse may soon end up costing his life.’

[..] Medical doctors have a professional duty to report suspected torture of which they become aware, wherever it may be occurring. That professional duty is absolute and must be carried out regardless of risk to reporting doctors. We wish to put on record, as medical doctors, our collective serious concerns and to draw the attention of the public and the world to this grave situation. The World Health Organisation Constitution of 1946 envisages ‘the highest attainable standard of health as a fundamental right of every human being.’20 We are indebted to those who have sought to uphold this right in the case of Mr Assange.

From a medical point of view, on the evidence currently available, we have serious concerns about Mr Assange’s fitness to stand trial in February 2020. Most importantly, it is our opinion that Mr Assange requires urgent expert medical assessment of both his physical and psychological state of health. Any medical treatment indicated should be administered in a properly equipped and expertly staffed university teaching hospital (tertiary care). Were such urgent assessment and treatment not to take place, we have real concerns, on the evidence currently available, that Mr Assange could die in prison. The medical situation is thereby urgent. There is no time to lose.

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I warned about the new right-wing government.

Aid Groups Condemn Greece Over ‘Prison’ Camps For Migrants, Refugees (G.)

Greece is poised to create “prison” island camps, say aid groups amid growing criticism of government plans to overhaul refugee reception centres on Aegean outposts facing Turkey. As the UN refugee agency’s top official, Filippo Grandi, prepared this week to fly to Lesbos, where almost 16,000 people are crammed into a single facility, Athens was criticised for adopting legislation in contravention of basic human rights. Disquiet mounted as the centre-right administration, which was elected on a tough law and order platform in July, declared that the country again at the forefront of the migration crisis had “reached its limits”. Announcing measures to tackle a significant increase in arrivals, not seen at such levels since 2015 when nearly a million Syrians entered Europe via the isles, it promised future policies would be defined by deterrence.

Under the scheme, closed installations will replace vastly overcrowded, open-air camps; land and sea borders will be reinforced with about 1,200 more guards and extra patrol vessels and deportations stepped up. “We are in the eye of the storm,” said the prime minister, Kyriakos Mitsotakis, conceding that pressure on Greece to patrol its eastern frontiers had risen dramatically in the wake of Europe’s decision to seal off the nation’s northern borders against migrant flows. “The country needs a national strategy.” With the new structures, which are built to hold no more than 5,000 people, the era “of shameful scenes” spawned by the deplorable conditions of notorious island camps would, he vowed, finally be replaced “by images of modern, properly functioning installations”.

International aid groups have overwhelmingly condemned the measures. After criticising asylum legislation also passed this month, they predicted the remodelled facilities would only exacerbate the humanitarian disaster unfolding on Europe’s frontiers. Martha Roussou, senior advocacy officer for the International Rescue Committee in Greece, said: “The government’s announcements represent a blatant disregard for human rights. The creation of closed facilities will simply mean that extremely vulnerable people, including children, will be kept in prison-like conditions, without having committed any crime.”

The Greek branch of Amnesty International called the plans “outrageous”. Likening Lesbos’s infamous Moria refugee camp to a “human rights black hole”, it said: “In reality, we are talking about the creation of contemporary jails with inhumane consequences for asylum seekers, and more widely, negative consequences for the Aegean islands and their inhabitants.” About 37,000 asylum seekers are trapped on islands that since the summer have been targeted with renewed vigour by traffickers.

Read more …

 

 

 

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Nov 222019
 
 November 22, 2019  Posted by at 9:17 am Finance Tagged with: , , , , , , , , , , ,  16 Responses »


Dorothea Lange We’ll be in California yet. We’re not going back to Arkansas 1938

 

Ex-FBI Lawyer Investigated For Altering FISA Documents in Russia Probe (CNN)
FBIs Vetting Of Informants Like Christopher Steele Slammed By IG (Solomon)
Ken Starr: We’re ‘Nowhere Close’ To Impeachable Offenses (Fox)
Giuliani: “Massive Pay-For-Play” Soros-Ukraine Scheme Facilitated By US (ZH)
Trump Welcomes Senate Impeachment Trial, Wants Bidens, Schiff To Testify (R.)
The Civilian Government Doesn’t Owe Deference to Military Officers (McMaken)
Democratic Establishment Reaches Boiling Point With Tulsi Gabbard (Pol.)
Corbyn Declares War On ‘Rich And Powerful’ With Radical Manifesto (Ind.)
Greek Coast Guard Says 400 Refugees, Migrants Rescued From Sea In Past Day (K.)
Economics For The Future – Beyond The Superorganism (Nate Hagens)

 

 

Horowitz and Durham stir.

Comment I picked up: “It’s important to note the media source aspect because normally this type of leak would go to the Washington Post or New York Times first; ergo, it likely stems as a personal leak to one of the former allied FBI officials now working for CNN.

FBI officials are now working for the media outlet, CNN, that is providing the leaks; ie. former FBI Deputy Director, Andrew McCabe; the spokesman for James Comey, Josh Campbell; a former FBI agent, Asha Rangappa; or the former FBI chief legal counsel, James Baker. All now work for CNN.”

Ex-FBI Lawyer Investigated For Altering FISA Documents in Russia Probe (CNN)

An FBI official is under criminal investigation after allegedly altering a document related to 2016 surveillance of a Trump campaign adviser, several people briefed on the matter told CNN. The possibility of a substantive change to an investigative document is likely to fuel accusations from President Donald Trump and his allies that the FBI committed wrongdoing in its investigation of connections between Russian election meddling and the Trump campaign. […] Horowitz turned over evidence on the allegedly altered document to John Durham.


[…] It’s unknown how significant a role the altered document played in the FBI’s investigation of Page and whether the FISA warrant would have been approved without the document. The alterations were significant enough to have shifted the document’s meaning and came up during a part of Horowitz’s FISA review where details were classified, according to the sources. […] The identity or rank of the FBI employee under investigation isn’t yet known, and it’s not clear whether the employee still works in the federal government. No charges that could reflect the situation have been filed publicly in court.

Read more …

And there’s more FBI…

Also John Solomon, on Twitter, about the Dems’ latest hero of the day: “Fiona Hill suggested my Ukraine stories were Russian propaganda. If she’s such an expert she would know my main character Yuriy Lutsenko was a political prisoner of the Russian backed Yanukovych regime and the US pleaded for his release and applauded his appointment as prosecutor”

FBIs Vetting Of Informants Like Christopher Steele Slammed By IG (Solomon)

The most troubling revelation in the report, however, may be that some of the FBI analysts used to vet informants complained they were “discouraged from documenting conclusions and recommendations” about an informant’s credibility or reliability. One analyst, for instance, reported being told not to document a request to polygraph a suspect informant. And multiple FBI officials admitted efforts to keep the validation reports of informants void of derogatory information because FBI “field office do not want negative information documented” that could aid defense lawyers or stop informants from becoming government witnesses at trial. Such behavior “may have increased the likelihood that red flags or anomalies were omitted” about long-term informants, the 63-page report warned. Such concerns were widely held.

For instance, one member of a joint Justice Department-FBI committee known as the HSRC that approved long-term informants’ service reported being “deeply concerned that the limited scope of the long-term validation review may potentially be omitting important information or critical red flags.” The report also included one very important piece on the FBI’s reliance on informants: it showed the bureau spends an average of about $42 million a year on them. This IG report did not mention Steele, arguably the FBI’s most famous informant of recent years. But Horowitz is expected to release a massive report next month on possible failures and abuses by the FBI in the Russia collusion investigation, including efforts to use Steele’s dossier to help secure a Foreign Intelligence Surveillance Act warrant to surveil a former Trump campaign adviser.

The FBI’s reliance on Steele has raised significant public concerns, including that he was being paid to do his work to find dirt on Trump by the opposition research firm for Hillary Clinton and the Democratic National Committee, had expressed a bias against Trump and had been leaking to the news media while working for the FBI. His source relationship was ended because of the latter concern. In addition, an FBI spreadsheet created to validate Steele’s allegations against Trump found most of the information in the dossier to be unconfirmed, debunked or simply open source information found on the Internet, sources have told me.

Read more …

That seems obvious.

Ken Starr: We’re ‘Nowhere Close’ To Impeachable Offenses (Fox)

The testimony from witnesses in the House Democrats’ impeachment hearings has come “nowhere close” to laying out impeachable offenses, former Independent Counsel Ken Starr said Thursday. Appearing on “America’s Newsroom” with host Bill Hemmer, Starr said that the witness testimony does not “reach the level of treason, bribery, or other high crimes and misdemeanors.” “My assessment of the evidence [thus] far? Nowhere close. The evidence is conflicting and ambiguous,” he told Hemmer. Starr said that European Union Ambassador Gordon Sondland’s testimony Wednesday falls into the same category since Sondland gave conflicting information about whether President Trump sought a quid pro quo with Ukraine involving military aid and an investigation of former Vice President Joe Biden and his son Hunter.

“Clearly in his opening statement, a quid pro quo. And then, he says later, ‘Well, the president said, ‘I don’t want anything. Right? President Zelensky should just do the right thing.’ [Those are] the words from the president himself,” he continued. “So, the record at the end of the day is likely to be ambiguous at best, conflicting at best … and you shouldn’t charge and you cannot convict a sitting president on the basis of conflicting and ambiguous evidence and destabilize the American government,” Starr argued. [..] “So, at least, I hope the Democrats will have that conversation about we don’t like the way foreign policy was conducted here, the delay [in providing aid] and so forth.

That’s debatable, but it is not the stuff of impeachment,” he told Hemmer. Later in the morning, after hearing testimony from David Holmes, a U.S. State Department official in Ukraine, and former National Security Council aide Fiona Hill, Starr said he does not believe a “corrupt bargain” by Trump is being proven. Starr said Hill’s testimony about Russian interference in the 2016 election was “eloquent,” particularly about the Kremlin trying to “sow seeds of discord” on both sides. He said it’s “willful blindness” for the president’s critics to dismiss allegations that Ukrainian officials were supporting Hillary Clinton.

Read more …

What came out again in yesterday’s hearing is the neverending RussiaRussia topic. Which is still presented as gospel, though its was debunked by Mueller, while at the same time the role of Ukraine, never investigated, is called a conspiracy theory.

Giuliani: “Massive Pay-For-Play” Soros-Ukraine Scheme Facilitated By US (ZH)

Rudy Giuliani claims that US diplomats have been acting to further the interests of billionaire George Soros in Ukraine in what he described as a “massive pay-for-play” scheme which included falsifying evidence against President Trump. “The anti-corruption bureau is a contradiction,” Giuliani told Glenn Beck, regarding Ukraine’s National Anti-Corruption Bureau (NABU), which Joe Biden helped establish when he was the Obama administration’s point-man on Ukraine. As a bit of background, in December of 2018, a Ukrainian court ruled that NABU director Artem Sytnyk “acted illegally” when he revealed the existence of Trump campaign manager Paul Manafort’s name to Journalist and politician Serhiy Leschenko in a “black ledger” containing off-book payments to Manafort by Ukraine’s previous administration.

The ruling against Sytnyk and Leshchenko was later overturned on a technicality. In December, The Blaze obtained audio of Sytnyk bragging about helping Hillary Clinton in the 2016 US election. “They took all the corruption cases away from the prosecutor general, they gave it to the anti-corruption bureau, and they got rid of all the cases that offended Soros, and they included all the cases against Soros’ enemies,” Giuliani told Beck. “One of the first cases they dismissed was a case in which his [Soros’s] NGO, AntAC, was supposed to have embezzled a lot of money, but not only that, collected dirty information on Republicans to be transmitted, gotten by Ukrainians, to be transmitted to this woman Alexandra Chalupa and other people who worked for the Democratic National Committee,” Giuliani continued.

[..] Giuliani described his reaction when he discovered the Ukrainian collusion that undermined the accusations of the Democrats made against the president. “Hallelujah! I now have what a defense lawyer always wants: I can go prove somebody else committed this crime!” Giuliani said. Giuliani explained to Beck that he had gone to Ukraine seeking exculpatory evidence, that which would exonerate his client, the president, in the special counsel Robert Mueller investigation. When Giuliani was asked directly about the identity of the whistleblower, he said that he could not speak about the matter publicly, and could not indicate if he knew the identity or not.

He also claimed that there were several prosecutors in Ukraine currently who were willing to testify about the collusion, but they were being blocked by the U.S. State Department. When prompted by Beck, he said he would provide for him the names of those individuals off air.

Read more …

And Ciaramella the whistleblower.

Trump Welcomes Senate Impeachment Trial, Wants Bidens, Schiff To Testify (R.)

President Donald Trump wants an impeachment trial to go forward in the U.S. Senate because he would receive due process there and he expects Democratic presidential candidate Joe Biden would be among the witnesses, a White House spokesman said on Thursday. “President Trump wants to have a trial in the Senate because it’s clearly the only chamber where he can expect fairness and receive due process under the Constitution,” spokesman Hogan Gidley said in a statement. “We would expect to finally hear from witnesses who actually witnessed, and possibly participated in corruption – like Adam Schiff, Joe Biden, Hunter Biden, and the so-called Whistleblower, to name a few,” Gidley said, referring to House of Representatives Intelligence Committee Chairman Schiff, who is leading an impeachment inquiry into Trump.

Read more …

Major point. All the way back to the Founders.

The Civilian Government Doesn’t Owe Deference to Military Officers (McMaken)

On Tuesday, Congressional impeachment hearings exposed an interesting facet of the current battle between Donald Trump and the so-called deep state: namely, that many government bureaucrats now fancy themselves as superior to the elected civilian government. In an exchange between Rep. Devin Nunes (R-CA) and Alexander Vindman, a US Army Lt. Colonel, Vindman insisted that Nunes address him by his rank. After being addressed as “Mr. Vindman,” Vindman retorted “Ranking Member, it’s Lt. Col. Vindman, please.” Throughout social media, anti-Trump forces, who have apparently now become pro-military partisans, sang Vindman’s praises, applauding him for putting Nunes in his place.

In a properly functioning government — with a proper view of military power — however, no one would tolerate a military officer lecturing a civilian on how to address him “correctly.” It is not even clear that Nunes was trying to “dis” Vindman, given that junior officers have historically been referred to as “Mister” in a wide variety of times and place. It is true that higher-ranking offers like Vindman are rarely referred to as “Mister,” but even if Nunes was trying to insult Vindman, the question remains: so what? Military modes of address are for the use of military personnel, and no one else. Indeed, Vindman was forced to retreat on this point when later asked by Rep. Chris Stewart (R-UT) if he always insists on civilians calling him by his rank.

Vindman blubbered that since he was wearing his uniform (for no good reason, mind you) he figured civilians ought to refer to him by his rank. Of course, my position on this should not be construed as a demand that people give greater respect to members of Congress. If a private citizen wants to go before Congress and refer to Nunes or any other member as “hey you,” that’s perfectly fine with me. But the important issue here is we’re talking about private citizens — i.e., the people who pay the bills — and not military officers who must be held as subordinate to the civilian government at all times. After all, there’s a reason that the framers of the US Constitution went to great pains to ensure the military powers remained subject to the will of the civilian government. Eighteenth and nineteenth century Americans regarded a standing army as a threat to their freedoms. Federal military personnel were treated accordingly.

Read more …

Michael Tracey: “Democratic senators anonymously trashing Tulsi because she has the audacity to debate other candidates… at a debate. “

Democratic Establishment Reaches Boiling Point With Tulsi Gabbard (Pol.)

Tulsi Gabbard trashed the Democratic Party as “not the party that is of, by and for the people,” accused Kamala Harris of trafficking in “lies and smears and innuendo” and attacked Pete Buttigieg as naive. Her performance at Wednesday’s debate earned an attaboy from the Trump War Room. And some rank-and-file Democrats are at wit’s end with the congresswoman who Hillary Clinton called “the favorite of the Russians.” “The question is whether she seriously hopes to be the nominee or if she has another agenda … her attacks on other candidates and her positions on issues seem very personal, not so much about a set of policies or worldview,” said Sen. Richard Blumenthal (D-Conn.). Bernie Sanders has “a coherent set of principles. Elizabeth Warren’s the same. I don’t perceive a fixed set of principles or worldview on her part.”


Demonstrating how divisive her campaign has become, the Trump War Room tweeted out a video clip of Gabbard attacking her own party with a “100” emoji. It received 4,500 retweets and 15,000 likes. “She sort of seems to be filling a pretty strange lane. Is there a part of the party that hates the party?” said Sen. Chris Murphy (D-Conn.). “It’s a little hard to figure out what itch she’s trying to scratch in the Democratic Party right now.” The Hawaii congresswoman’s presence on the debate stage is becoming a headache for the party as she uses the platform to appeal to isolationists, dissatisfied liberals and even conservatives. She has managed to secure a spot on the debate stage as more mainstream candidates like Sen. Michael Bennet (D-Colo.) and Gov. Steve Bullock (D-Mont.) failed to meet polling and donor thresholds to participate.

Read more …

I think something like this is inevitable, but I also think the timing is not quite there. Nice graph that shows it’s not really extravagant spending as is claimed.

Corbyn Declares War On ‘Rich And Powerful’ With Radical Manifesto (Ind.)

Jeremy Corbyn declared war on the “rich and powerful” with a general election manifesto that raises £83bn in new taxes on corporations and the wealthy to fund free broadband, the abolition of university tuition fees and a 5 per cent pay rise for public-sector workers. In a surprise move, the Labour leader announced an £11bn one-off windfall tax on oil and gas companies to pay for a “green industrial revolution” which he said would create a million environmental jobs and put the UK on track to achieve “the substantial majority” of necessary carbon emission reductions by 2030.


In a pugnacious address in Birmingham designed to breathe new life into Labour’s challenge for power and turn round its current deficit in the polls, Mr Corbyn said he was ready to accept “the hostility of the billionaires” in order to deliver what he termed “a manifesto of hope” for the bulk of the British people. He said Labour’s programme would bring an end to a system “rigged” in favour of big corporations and the super-rich. But Tories accused him of planning a “reckless spending spree”, while energy trade body OGUK warned that any additional taxes would “drive investors away and damage the long-term competitiveness of the UK’s offshore oil and gas industry”.

Read more …

Not pretty.

Greek Coast Guard Says 400 Refugees, Migrants Rescued From Sea In Past Day (K.)

Greece’s Coast Guard said Friday it rescued 400 refugees and migrants in the last 24 hours in 10 different incidents in the sea area near the city Alexandroupolis and the islands of Lesvos and Chios. Authorities also arrested three people believed to be migrant traffickers. Meanwhile, two ferries carrying 96 refugees and migrants from the islands of Chios, zeros and Kos arrived at the port of Piraeus on Friday morning, as part of the government’s efforts to decongest migrant camps. The new arrivals will be sent to different accommodation facilities in the mainland.

Read more …

New study by my friend Nate Hagens. I haven’t been able to read the whole thing yet.

Economics For The Future – Beyond The Superorganism (Nate Hagens)

“The real problem of humanity is the following: we have paleolithic emotions; medieval institutions; and god-like technology.”– E.O. Wilson

Despite decades of warnings, agreements, and activism, human energy consumption, emissions, and atmospheric CO2 concentrations all hit new records in 2018. If the global economy continues to grow at about 3.0% per year, we will consume as much energy and materials in the next ±30 years as we did cumulatively in the past 10,000. Is such a scenario inevitable? Is such a scenario possible? Simultaneously, we get daily reminders the global economy isn’t working as it used to such as rising wealth and income inequality, heavy reliance on debt and government guarantees, populist political movements, increasing apathy, tension and violence, and ecological decay. To avoid facing the consequences of our biophysical reality, we’re now obtaining growth in increasingly unsustainable ways.

The developed world is using finance to enable the extraction of things we couldn’t otherwise afford to extract to produce things we otherwise couldn’t afford to consume. With this backdrop, what sort of future economic systems are now feasible? What choreography would allow them to come about? In the fullness of the Anthropocene, what does a hard look at the relationships between ecosystems and economic systems in the broadest sense suggest about our collective future? Ecological economics was ahead of its time in recognizing the fundamental importance of nature’s services and the biophysical underpinnings of human economies. Can it now assemble a blueprint for a ‘reconstruction’ to guide a way forward?

Before articulating prescriptions, we first need a comprehensive diagnosis of the patient. In 2019, we are beyond a piecemeal listing of what’s wrong. A coherent description of the global economy requires a systems view: describing the parts, the processes, how the parts and processes interact, and what these interactions imply about future possibilities. This paper provides a brief overview of the relationships between human behavior, the economy and Earth’s environment. It articulates how a social species self-organizing around surplus has metabolically morphed into a single, mindless, energy-hungry “Superorganism.” Lastly, it provides an assessment of our constraints and opportunities, and suggests how a more sapient economic system might develop.

Read more …

 

Today is the 56th anniversary of the murder of JFK.

 

 

 

 

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Nov 142019
 


Pablo Picasso Pitcher of flowers on a table 1942

 

The Impeachment Pantomime (Patrick Lawrence)
The Real Ukraine Controversy: An Activist US Embassy (Solomon)
Trump Impeachment Inquiry: New Claims Amid Public Hearing (BBC)
Trickster Adam Schiff Conjuring ‘Guilt’ Out Of Thin Air (NYPost)
Trump Impeachment Is Blueprint To Overthrow Government From Within (Rives)
Here Are The Payments To Hunter Biden, Leaked From Ukraine (CDMedia)
Lawmaker Posts Cryptic Jeffrey Epstein Message During Impeachment Hearing (G.)
The Holy-Cow Moment for Subprime Auto Loans (WS)
Le Mesurier Gets Cross (Craig Murray)
Greek Refugee Camp For 640 People Is Found To Be Housing 3,745 (G.)

 

 

I have too much to say about the impeachment thing to do it here, I’ll do that separately later. Meanwhile, a few strong commentaries:

The Impeachment Pantomime (Patrick Lawrence)

The impeachment probe starts to take on a certain reek. It starts to look as if contempt for Trump takes precedence over democratic process — a dangerous priority. Sperry quotes Fred Fleitz, a former National Security Council official, thus: “Everyone knows who he is. CNN knows. The Washington Post knows. The New York Times knows. Congress knows. The White House knows…. They’re hiding him because of his political bias.” Here we come to another question. If everyone knows the whistleblower’s identity, why have the corporate media declined to name him? There can be but one answer to this question: If Ciaramella’s identity were publicized and his professional record exposed, the Ukrainegate narrative would instantly collapse into a second-rate vaudeville act — farce by any other name, although “hoax” might do, even if Trump has made the term his own.


There is another half to this burlesque. While Schiff and his House colleagues chicken-scratch for something, anything that may justify a formal impeachment, a clear, documented record emerges of Joe Biden’s official interventions in Ukraine in behalf of Burisma Holdings, the gas company that named Hunter Biden to its board in March 2014 — a month, it is worth noting, after the U.S.–cultivated coup in Kiev. There is no thought of scrutinizing Biden’s activities by way of an official inquiry. In its way, this, too, reflects upon the pantomime of the impeachment probe. Are there sufficient grounds to open an investigation? Emphatically there are. Two reports published last week make this plain by any reasonable measure.

Read more …

Nobody appears to know more about the Ukraine boondoggle than John Solomon. But the Hill seems to have dumped him. He publishes on his own site now.

The Real Ukraine Controversy: An Activist US Embassy (Solomon)

The first time I ever heard the name of U.S. ambassador to Ukraine Marie Yovanovitch was in early March of this year. It did not come from a Ukrainian or an ally of President Trump. It came from a career diplomat I was interviewing on background on a different story. The diplomat, as I recall, suggested that Yovanovitch had just caused a commotion in Ukraine a few weeks before that country’s presidential election by calling for the firing of one of the prosecutors aligned with the incumbent president. The diplomat related that a more senior State official, David Hale, was about to travel to Ukraine and was prepping to be confronted about Yovanovitch’s comments. I remember the diplomat joking something to the effect of, “we always say that the Geneva Convention is optional for our Kiev staff.”

The Geneva Convention is the UN-backed pact enacted during the Cold War that governs the conduct of foreign diplomats in host countries and protects them against retribution. But it strictly mandates that foreign diplomats “have a duty not to interfere in the internal affairs of that State” that hosts them. You can read the convention’s rules here. I dutifully checked out my source’s story. And sure as day, Yovanovitch did give a speech on March 5, 2019 calling for Ukraine’s special anticorruption prosecutor to be removed. You can read that here. And the Ukraine media was abuzz that she had done so. And yes, Under Secretary of State Hale, got peppered with questions upon arriving in Kiev, specifically about whether Yovanovitch’s comments violated the international rule that foreign diplomats avoid becoming involved in the internal affairs and elections of their host country.

Hale dutifully defended Yovanovitch with these careful words. “Well, Ambassador Yovanovitch represents the President of the United States here in Ukraine, and America stands behind her statements. And I don’t see any value in my own elaboration on what they may or may not have meant. They meant what she said.” You can read his comments here. Up to that point, I had focused months of reporting on Ukraine on the U.S. government’s relationship with a Ukraine nonprofit called the AntiCorruption Action Centre, which was jointly funded by liberal megadonor George Soros’ charity and the State Department. I even sent a list of questions to that nonprofit all the way back in October 2018. It never answered.

Given that Soros spent millions trying to elect Hillary Clinton and defeat Donald Trump in 2016, I thought it was a legitimate public policy question to ask whether a State Department that is supposed to be politically neutral should be in joint business with a partisan figure’s nonprofit entity.

Read more …

The one thing that was new in yesterday’s circus was Bill Taylor claiming more third-hand stories.

Trump Impeachment Inquiry: New Claims Amid Public Hearing (BBC)

A top US diplomat told impeachment hearings that President Trump directly asked about a Ukrainian investigation into his Democratic rival Joe Biden. In previously unheard testimony, Bill Taylor, the acting US ambassador to Ukraine, said a member of his staff was told Mr Trump was preoccupied with pushing for a probe into Mr Biden. He was speaking at the first public hearings in the impeachment inquiry. Mr Trump told reporters he did not recall making such comments. Mr Trump is accused of withholding US military aid to Ukraine in order to pressure the country’s new president to publicly announce a corruption inquiry into Mr Biden, among the favourites to take him on in the 2020 presidential race.


[..] During a detailed opening statement, Mr Taylor said a member of his staff had overheard a telephone call in which the president inquired about “the investigations” into Mr Biden. The call was with Gordon Sondland, the US ambassador to the European Union, who reportedly told the president over the phone from a restaurant in Kyiv that “the Ukrainians were ready to move forward”. After the call, the staff member “asked ambassador Sondland what President Trump thought about Ukraine”, Mr Taylor said. Mr Taylor said: “Ambassador Sondland responded that President Trump cares more about the investigations of Biden.” Meanwhile observers and former officials have drawn attention to the security implications of making the call from a restaurant, potentially exposing the conversation to eavesdropping by Russian intelligence.

Read more …

“Thanks to the false charges made by James Comey, John Brennan and others that Trump was a running dog for Vladimir Putin, uniforms and badges are no longer proof of rectitude. Count diminished public trust in those institutions as a lasting legacy of the Obama presidency.”

Trickster Adam Schiff Conjuring ‘Guilt’ Out Of Thin Air (NYPost)

The conclusion has always come first — get Trump — then create a justification by weaving a few thin threads together into a noose. In both cases, the Dems have relied on members of the resistance embedded in the government to serve as the hanging party. Some wear military uniforms while others are in the CIA and FBI. Thanks to the false charges made by James Comey, John Brennan and others that Trump was a running dog for Vladimir Putin, uniforms and badges are no longer proof of rectitude. Count diminished public trust in those institutions as a lasting legacy of the Obama presidency. The main problem now is that, three years after Trump’s election, these constant hair-on-fire screams sound and feel like partisan politics pretending to be apolitical.

The smell of a continuing dirty trick is hard to ignore. Schiff, of course, comes by his current role honestly in the sense that he has been a chief proponent of anything and everything that might turn the public against the president. He insisted that Trump was guilty of collusion for two years before Mueller said otherwise and then continued to say it despite Mueller. But after the special counsel’s public testimony turned out to be the dud of all duds, Russia, Russia, Russia dropped off the earth and Schiff instantly proclaimed Ukraine, Ukraine, Ukraine the new crime of the century. In a rational world, where facts matter and credibility counts, Schiff would already be consigned to history’s dustbin alongside Sen. Joe McCarthy.

Like the infamous red baiter who saw a commie behind every desk, Schiff sees evidence of “high crimes and misdemeanors” every time the president opens his mouth. It’s been that way since before Trump was inaugurated. McCarthy was not burdened by decency, as Army lawyer Joseph Welch famously noted. Schiff is similarly unburdened and so he, too, willy-nilly ruins lives and trashes reputations without a sense of guilt. Speaker Nancy Pelosi is no less culpable. In the early months after she got the gavel, she skillfully pushed back against the tide of radicalism sweeping through her party. Repeatedly, she insisted that impeachment was extremely divisive, should only be a last resort and had to have bipartisan support.

Those were her red lines, and she violated all of them. Her resolution for a formal inquiry got zero GOP votes and the public support for removing Trump is essentially limited to her party’s voters. There is no national emergency that would justify such an extreme action, and yet she gave Schiff the green light.

Read more …

Jenna Ellis Rives is a member of the Donald Trump 2020 advisory board. She is a constitutional law attorney.

Trump Impeachment Is Blueprint To Overthrow Government From Within (Rives)

The House is ready to begin public hearings this week, furthering the partisan move by the Democrats to impeach President Trump in a blatant abuse of constitutional authority. Representative Adam Schiff said in a press conference, “These open hearings will be an opportunity for the American people to evaluate the witnesses for themselves and also to learn firsthand about the facts of the president’s misconduct.” There are several problems with this statement. First, Schiff is already characterizing the outcome of the investigation. As the chairman of the House Intelligence Committee, he serves as a key arbiter of the inquiry under the resolution. As such, he is in a position that demands an unbiased irreproachable ethic in evaluating requests for subpoenas and testimony.

Any judge in a similar position would be required to recuse himself with even a hint of the pure bias Schiff has displayed, including coordination with the Ukraine whistleblower and other actions. The Democrats do not even pretend that their impeachment game is fair or actually about fact finding. This is simply about using a grant of power in the Constitution arbitrarily and politically, outside the bounds of due process and the purpose of that authority. Although the House does have the “sole power” of impeachment, that is a grant of jurisdiction, not a license to proceed on purely partisan motivation. Article One must work coordinately and not inconsistently with Article Two, which provides the legal basis upon which a sitting president may be impeached.

Second, Schiff demonstrates this is all about media play in the court of public opinion. Voters have no power or responsibility in an impeachment proceeding. The drafters of the Constitution intended the impeachment and removal process to be exercised only when there was sufficient evidence that the subject of the impeachment had committed a legally qualifying offense. This is not about whether impeachment is popular in the polls or whether a majority of Americans prefer it. Transparency in the context of this quasi judicial process is to provide fundamental fairness and due process for the president. Why are the Democrats so hellbent on blatantly refusing to allow Republican subpoenas and witnesses?

It is because it is a sham. Yet the Democrats are openly admitting that their goal is to try this in the media and attempt to dishonestly convince us that somehow we too should hate Donald Trump. They are hoping to convince us not to vote for him. That is not a legitimate or constitutional purpose of an impeachment. It is rather ironic that they claim his “crime” is an alleged quid pro quo to gain political advantage, while they are manipulating the power of impeachment for their political advantage. It is Schiff and other Democrats like House Speaker Nancy Pelosi who should be impeached. There is an actual constitutional basis for that.

Read more …

And the series keeps going on.

Here Are The Payments To Hunter Biden, Leaked From Ukraine (CDMedia)

The information below has been leaked from the Ukrainian General Prosecutor’s office and acquired from intelligence sources within Ukraine; it is part of investigative materials acquired during an investigation into Biden corruption. As CD Media has reported previously, the National Anti-Corruption Bureau Of Ukraine (NABU) has succeeded in shutting down all investigations into Hunter Biden, Joseph Biden, Burisma owner Mykola Zlochevskiy, former Ukrainian President Petro Poroshenko, and former Polish President Aleksander Kwasniewskiy. NABU is controlled by Obama/Soros linked operatives and was created to coverup Democrat, Biden, Deep State, State Department corruption during the Obama Administration and the years after in which this cabal went after duly-elected President Trump.

Prosecutors who desire the information to get out in spite of the Deep State’s efforts to prevent such a release and prevent investigations to continue, have leaked to CD Media. The highlighted sections describe: According to the Department of Financial Monitoring (Counter-intelligence) of Latvia, the following sums of money were obtained from Busima Holding Limited (Cyprus) to the account of Burisma Holding Limited (Cyprus) which is open at AS PrivatBank in Latvia: money transfer of 14 655 982 US Dollars and 366 015 EUR from the company “Wirelogic Technology AS”, and 1 9 64 375 US dollars from “Digitex Organization LLP” based on the credit agreements. (Note: credit agreements here mean “intra-company” transactions to decrease the taxes to be paid or “credit agreement” also serve as means of hidden dividend payments).


Further, the part of the sums described above, the money was transferred to Alan Apter (302 885 EUR), Alexander Kwasniewski (1 150 000 EUR), Devon Archer and Hunter Biden. Additional information was leaked: BURISMA HOLDINGS LIMITED during a period from 18th November 2014 to 16th November 2015 transacted 45 money transfers through MORGAN STANLEY SMITH BARNEY LLC in the sum of 3.5 mln US Dollars. The recipient of the money transfer is the company Rosemont Seneca Bohai LLC (belongs to Devon Archer). Note: The company belongs to Devon Archer and Kerry Family including Kerry Senior, Kerry Junior, Heinz Jr and Hunter Biden. Devon Archer, Kerry Jr, Heinz Jr and Hunter Biden are listed as partners in Rosement Seneca Fund, Rosemont Seneca Partners and affiliated Rosemont Seneca other companies.

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“EPSTEIN DIDN’T KILL HIMSELF”

Lawmaker Posts Cryptic Jeffrey Epstein Message During Impeachment Hearing (G.)

Conspiracy theories have abounded ever since Jeffrey Epstein’s death in a New York jail was ruled a suicide, with figures on the right and left claiming he was murdered. On Wednesday, a US congressman weighed in with his own cryptic message. Republican Paul Gosar, a staunch conservative from Arizona, issued a series of 23 tweets over a roughly eight-hour period railing against the Democrats’ impeachment investigation of Donald Trump. Taken together, the first letter of each tweet spells: “EPSTEIN DIDN’T KILL HIMSELF”. As the first public impeachment hearing got under way, it was unclear what prompted the timing of Gosar’s message. Asked whether it was intentional, his communications director, Ben Goldey, replied with an equally cryptic comment:

All of the tweets pertained to testimony from today’s hearing.

Rest assured, they are substantive.

Every one of them.

All of them.

5 were brilliant.

1 was ok.

Zealous Twitter users picked up on the original message, which was easy to miss as it was couched in standard-issue rightwing complaints: “No quid pro quo”, “Democrats are desperate”, “Hillary Clinton and the DNC funded a foreign spy”. A few hours later, however, Gosar’s account posted Goldey’s comment with the first letter of each line bolded, making the message clear.

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Yeah, Jay Powell, very strong economy.

The Holy-Cow Moment for Subprime Auto Loans (WS)

Serious auto-loan delinquencies – auto loans that are 90 days or more past due – in the third quarter of 2019, after an amazing trajectory, reached a historic high of $62 billion, according to data from the New York Fed today. This $62 billion of seriously delinquent loan balances are what auto lenders, particularly those that specialize in subprime auto loans, such as Santander Consumer USA, Credit Acceptance Corporation, and many smaller specialized lenders are now trying to deal with. If they cannot cure the delinquency, they’re hiring specialized companies that repossess the vehicles to be sold at auction. The difference between the loan balance and the proceeds from the auction, plus the costs involved, are what a lender loses on the deal.

The repo business, however, is booming. But delinquencies are a flow: As current delinquencies are hitting the lenders’ balance sheet and income statement, the flow continues and more loans are becoming delinquent. And lenders are still making new loans to risky customers and a portion of those loans will become delinquent too. And now the flow of delinquent loans is increasing – and this isn’t going to stop anytime soon: These loans are out there and new one are being added to them, and a portion of them will be defaulting. Total outstanding balances of auto loans and leases in Q3, according to the New York Fed’s measure (higher and more inclusive than the Federal Reserve Board of Governors’ consumer credit data) rose to $1.32 trillion:

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Upon the death of White Helmets co-founder James Le Mesurier, Murray lists some 20 UK journalists who all follow the Twitter account of “Philip Cross”, which has only ever retweeted things without posting one original tweet. “Philip Cross”, though, has changed Wikipedia pages for 2,987 consecutive days, and made dozenns of changes to Le Mesurier’s page in the 24 hours after his death.

Le Mesurier Gets Cross (Craig Murray)

This week, on the day of Le Mesurier’s death, “Philip Cross” made 48 edits to Le Mesurier’s Wikipedia page, each one designed to expunge any criticism of the role of the White Helmets in Syria or reference to their close relationship with the jihadists. “Philip Cross” has been an operation on a massive scale to alter the balance of Wikipedia by hundreds of thousands of edits to the entries, primarily of politically engaged figures, always to the detriment of anti-war figures and to the credit of neo-con figures. An otherwise entirely obscure but real individual named Philip Cross has been identified who fronts the operation, and reputedly suffers from Aspergers. I however do not believe that any individual can truly have edited Wikpedia articles from a right wing perspective, full time every single day for five years without one day off, not even a Christmas, for 2,987 consecutive days.


I should declare here the personal interest that “Philip Cross” has made over 120 edits to my own Wikipedia entry, including among other things calling my wife a stripper, and deleting the facts that I turned down three honours from the Crown and was eventually cleared on all disciplinary charges by the FCO. I hazard the guess that at least several of the above journalists follow “Philip Cross” on twitter because they are a part of the massive Wikipedia skewing operation operating behind the name of “Philip Cross”. If anybody has any better explanation of why they all follow “Philip Cross” on twitter I am more than willing to hear it.

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“Nine unaccompanied girls were sleeping on the floor in a 10 metre sq container next to the police office, with no bathroom or shower.”

Greek Refugee Camp For 640 People Is Found To Be Housing 3,745 (G.)

An EU-funded refugee camp on the Greek island of Samos built to house 640 people is home to 3,745, with unaccompanied children forced to sleep on the floor of windowless and overcrowded containers, an official audit has revealed. Other children were found to be living in makeshift tents or in derelict buildings on the outskirts of the camp in what the special report from the European court of auditors described as “dire conditions”. “Seventy-eight unaccompanied minors were in tents or abandoned derelict houses outside the hot spot, in unofficial extensions to the facility,” the auditors said. “Nine unaccompanied girls were sleeping on the floor in a 10 metre sq container next to the police office, with no bathroom or shower.”


The situation at Greek facilities on Samos and at the island of Lesbos are described as “highly critical in terms of capacity and the situation of unaccompanied minors”, due to a failure of the bloc’s relocation and return scheme for migrants coming to Europe from countries such as Syria. The auditors’ findings were echoed on Wednesday in appeals made by the mayor of Samos, Georgios Stantzos, who warned of riots due to the “primitive” conditions. Last month, a fire broke out in the camp after a brawl in town between rival groups of Syrians and Afghans.

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Nov 022019
 
 November 2, 2019  Posted by at 8:12 am Finance Tagged with: , , , , , , , , , ,  15 Responses »


Pablo Picasso Woman with blue collar (Portrait d’Inez) 1941

 

Christopher Steele Gave Evidence To UK Intrusion Inquiry (G.)
Trump-Ukraine Whistleblower Suddenly Won’t Testify (ZH)
Former CIA Heads Praise Deep State, Admit They Want to ‘Take Out’ Trump (SN)
A Partisan Impeachment Vote Is Exactly What The Framers Feared (Dershowitz)
Horse-Trading Is Not An Impeachable Offense (HE)
In Defense of Tulsi Gabbard (Sjursen)
Trevor Noah Asks Hillary: “How Did You Kill Jeffrey Epstein?” (ZH)
Halloween is Over and the Jig is Up (Kunstler)
Greek Refugee Camps ‘On Edge Of Catastrophe’ – EU Watchdog (BBC)
28,000 American Airlines Flight Attendants Refuse To Work On 737 Max (ZH)
Apple Introduces Gender-Neutral Versions Of Nearly Every Human Emoji (RT)

 

 

A fine piece of garbage co-authored by the least trustworthy man in UK media, Luke Harding, notorious for multiple fact-free Assange smear pieces. And really, Steele hasn’t been discredited enough?

Christopher Steele Gave Evidence To UK Intrusion Inquiry (G.)

A report on Russian interference in British politics allegedly being sat on by Downing Street includes evidence from Christopher Steele, the former head of MI6’s Russia desk whose investigation into Donald Trump’s links with Moscow sparked a US political scandal. Steele made submissions in writing to parliament’s intelligence and security committee (ISC), it is understood. [..] In April the US special counsel Robert Mueller corroborated Steele’s central claim that the Russians ran a “sweeping and systematic” operation in 2016 to help Trump win.


[..] on Thursday, Dominic Grieve, the MP who chairs the committee, accused Boris Johnson of sitting on the report – potentially preventing its publication before the general election. [..] Two sources told BuzzFeed that British intelligence found no evidence of Russian meddling in either the 2016 referendum vote or the 2017 general election. However, Steele’s involvement in the committee’s unpublished dossier raises the stakes considerably. [..] Experts who gave evidence were informed on Wednesday evening that the report was due to be published imminently. The decision to stop it from coming out is being seen inside Whitehall as unusual.

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Completely, completely nuts. They appear to have nothing, and try to drag that nothing out until the 2020 elections. This faultily labeled ‘whistleblower’ worked for Obama, Biden and Brennan, and was heavily coached by Schiff. And they STILL are afraid to use him. But Trump is the one under investigation?

If Trump did anything truly impeachable, and not merely “made up because you want to get rid of him”, by all means, impeach him. But in a regular way, one that includes Republicans. I can see now why Trump talks about impeaching Adam Schiff. Do the CNN, NYT and WaPo audience realize how damaging this whole affair is to their country?

Trump-Ukraine Whistleblower Suddenly Won’t Testify (ZH)

A CIA officer who filed a second-hand whistleblower complaint against President Trump has gotten cold feet about testifying after revelations emerged that he worked with Joe Biden, former CIA Director John Brennan, and a DNC operative who sought dirt on President Trump from officials in Ukraine’s former government. According to the Washington Examiner, discussions with the whistleblower – revealed by RealClearInvestigations as 33-year-old Eric Ciaramella have been halted, “and there is no discussion of testimony from a second whistleblower, who supported the first’s claims.” Ciaramella complained that President Trump abused his office when he asked Ukraine to investigate corruption allegations against Joe Biden and his son Hunter, as well as claims related to pro-Clinton election interference and DNC hacking in 2016.

On Thursday, a top National Security Council official who was present on a July 25 phone call between Trump and Ukrainian President Volodomyr Zelensky testified that he saw nothing illegal about the conversation. “I want to be clear, I was not concerned that anything illegal was discussed,” said Tim Morrison, former NSC Senior Director for European Affairs who was on the July 25 call between the two leaders. “There is no indication that either of the original whistleblowers will be called to testify or appear before the Senate or House Intelligence committees. There is no further discussion ongoing between the legal team and the committees,” said the Examiner’s source.

“The whistleblower is a career CIA officer with expertise in Ukraine policy who served on the White House National Security Council during the Obama administration, when 2020 Democratic presidential candidate Joe Biden was “point man” for Ukraine, and during the early months of the Trump administration.” -Washington Examiner In other words, House Democrats are about to impeach President Trump over a second-hand whistleblower complaint by a partisan CIA officer, and neither he nor his source will actually testify about it (for now…).

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No, you can NOT make this up: “This is the institution within the U.S. government — that with all of its flaws, and it makes mistakes — is institutionally committed to objectivity and telling the truth,” McLaughlin claimed.

The CIA is committed to telling the truth… You heard it here first.

Former CIA Heads Praise Deep State, Admit They Want to ‘Take Out’ Trump (SN)

Two former intelligence heads bragged about how the deep state is engaged in a coup to remove President Trump Thursday, with one even praising God for the existence of the deep state. During an interview with Margaret Brennan of CSPAN, former CIA head John McLaughlin along with his successor John Brennan both basically admitted that there is a secretive cabal of people within US intelligence who are trying to ‘take Trump out’. “Thank God for the ‘Deep State,’” McLaughlin crowed as liberals in the crowd cheered. “I mean I think everyone has seen this progression of diplomats and intelligence officers and White House people trooping up to Capitol Hill right now and saying these are people who are doing their duty or responding to a higher call.” he added.


“This is the institution within the U.S. government — that with all of its flaws, and it makes mistakes — is institutionally committed to objectivity and telling the truth,” McLaughlin claimed. “It is one of the few institutions in Washington that is not in a chain of command that makes or implements policy. Its whole job is to speak the truth — it’s engraved in marble in the lobby.” he continued to blather. Brennan also expressed praise for the deep state and admitted that the goal is to remove the President. “Thank goodness for the women and men who are in the intelligence community and the law enforcement community who are standing up and carrying out their responsibilities for their fellow citizens.” he said.

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Derhowitz has been heavily tainted by the Epstein saga, but he does make sense here. The Founding Fathers knew the risk involved in impeachment proceedings.

A Partisan Impeachment Vote Is Exactly What The Framers Feared (Dershowitz)

The House vote to establish procedures for a possible impeachment of President Trump, along party lines with two Democrats opposing and no Republicans favoring, was exactly was Alexander Hamilton feared in discussing the impeachment provisions laid out in the Constitution. Hamilton warned of the “greatest danger” that the decision to move forward with impeachment will “be regulated more by the comparative strength of parties than the real demonstrations of innocence or guilt.” He worried that the tools of impeachment would be wielded by the “most cunning or most numerous factions” and lack the “requisite neutrality toward those whose conduct would be the subject of scrutiny.” It is almost as if this founding father were looking down at the House vote from heaven and describing what transpired this week.

Impeachment is an extraordinary tool to be used only when the constitutional criteria are met. These criteria are limited and include only “treason, bribery, or other high crimes and misdemeanors.” Hamilton described these as being “of a nature which may with peculiar propriety be denominated political, as they relate chiefly to injuries done immediately to the society itself.” His use of the term “political” has been widely misunderstood in history. It does not mean that the process of impeachment and removal should be political in the partisan sense. Hamilton distinctly distinguished between the nature of the constitutional crimes, denoting them as political, while insisting that the process for impeachment and removal must remain scrupulously neutral and nonpartisan among members of Congress.

Thus, no impeachment should ever move forward without bipartisan support. That is a tall order in our age of hyperpartisan politics in which party loyalty leaves little room for neutrality. Proponents of the House vote argue it is only about procedures and not about innocence or guilt, and that further investigation may well persuade some Republicans to place principle over party and to vote for impeachment, or some Democrats to vote against impeachment. While that is entirely possible, the House vote would seem to make such nonpartisan neutrality extremely unlikely. It is far more likely that, no matter how extensive the investigation is and regardless of what it uncovers, nearly all House Democrats will vote for impeachment and nearly all House Republicans will vote against it. Such a partisan vote would deny constitutional legitimacy to impeachment.

[..] the partisanship strongly suggests that what Hamilton regarded as the greatest danger may be on the horizon, namely a vote to impeach a duly elected president based not on “real demonstrations of innocence or guilt” but rather on “comparative strength of parties.”

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Good find from Tyler. Go back to the Blagojevich case and take it from there. “[A] proposal to trade one public act for another, a form of logrolling, is fundamentally unlike the swap of an official act for a private payment.”

Horse-Trading Is Not An Impeachable Offense (HE)

Horse trading is the oxygen of politics; it is how politicians are persuaded to care about things that otherwise would not make their radar. Not only does it happen all the time, but it is a core feature of our political system; representative government relies on this kind of political trading to ensure a plurality of interests and needs are satisfied. Members of Congress routinely trade “policy for policy.” You sponsor my bill, and I’ll sponsor yours, you vote for a road in my district, and vice versa. Members even trade policy for personnel and hiring purposes: you support my bill, and I’ll let so-and-so’s hearing move forward, you appoint me to this, and I’ll recommend your protege for that.

These deals can even cross the blood/brain barrier between states and the federal government. It is not corruption. It’s the warp and woof of a democratic political system. But in routinely branding President Trump’s dealings with Ukraine as potential “corruption,” and pointing to the exchange of unrelated asks as proof of that corruption, our friends in the fourth estate are acting in willful ignorance and bad faith. The President has taken a firm position that he did not hold out foreign aid to Ukraine as a condition for investigating Hunter Biden’s activities there. But, even if he did, bargaining isn’t corruption—it’s policymaking.

An esteemed panel of federal judges in Chicago made precisely this point a few years ago. You may recall the prosecution of former-Illinois Governor Rod Blagojevich on various federal charges. And although the judges largely upheld his conviction, the U.S. Court of Appeals for the Seventh Circuit commentary on the affair was crystal clear. At least one of the counts that the trial judge had sent to the jury was just politics, pure and simple, and could not have been a crime. “[A] proposal to trade one public act for another, a form of logrolling, is fundamentally unlike the swap of an official act for a private payment.” In other words, swapping one policy for another is a political commonplace. “Governance would hardly be possible without these accommodations,” the court went on to observe.

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View from the military. Hillary has opened the door for any and all of them to be accused of working for Putin.

In Defense of Tulsi Gabbard (Sjursen)

“The trouble [with injustice] is that once you see it, you can’t unsee it. And once you’ve seen it, keeping quiet, saying nothing, becomes as political an act as speaking out. There is no innocence. Either way, you’re accountable.” – Arundhati Roy

Once again, Arundhati Roy – the esteemed Indian author and activist – more eloquently described what I’m feeling than I could ever hope to. After tours in Iraq and Afghanistan, a lifetime in the Army and burying several brave young men for no good reason, I couldn’t remain silent one moment longer. Certainly not about the madness of America’s failed forever wars, nor about domestic militarization of the police and the border, nor about the structural racism borne of our nation’s “original sin.” Still, most of my writing and public dissent has stayed within the bounds of my limited expertise: the disease of endless, unwinnable and often unsanctioned American wars.

At times it’s been a decidedly lonely journey, particularly in the many years I remained on active duty while actively dissenting. I was, and remain, struck by how few of my fellow soldiers, officers and recent post-9/11 veterans felt as I did—strongly enough, at least, to publicly decry U.S. militarism. Then I discovered Tulsi Gabbard, an obscure young congresswoman from Hawaii who, coincidentally, serves in the Army and is herself a veteran of the war in Iraq. In the current climate of Gabbard-bashing, where even sites like Truthdig offer measured criticism, it’s hard to convey the profound sense of relief I felt that someone as outspokenly anti-war as Gabbard even existed way back in 2016. She said things I only dared think back then; and as I did, she backed Bernie Sanders—a risky endeavor that likely doomed her to the recent slanderous accusations of treason by Hillary Clinton. That’s called courage.

Perhaps the appropriate place to begin my qualified defense of Gabbard is with Clinton’s outrageous—and unsubstantiated—assertion that the long-shot 2020 presidential candidate is being “groomed” by the Russians to run a third-party spoiler campaign in the general election. First off, Gabbard should seriously consider suing for libel. Clinton has veritably, and without a shred of evidence, accused her of treason, a crime that, due to Gabbard’s continued military service, is punishable by death. This is no small matter.

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I wasn’t going to include this, thought it’s a nice thing for Tyler to run with and that’s it. But I am still hurt and surprised by the total demise of American late night TV. Saw Noah the other day on Seinfeld’s Comedians with Coffee series, and he seemed like an okay guy. But they are all caught in the Jeff Zucker/NYT et al thing, of How Do You Make Money?: By Dumping On Orange Man Bad. It’s a scam for dollars. And Noah gets paid off of that.

But I used to like Letterman and Jon Stewart, and I don’t like that being taken away from me for scraps off the table. All the media made the same calculation: sure, we’ll lose half the audience, but the one half we get to keep, they’ll be fully addicted to us as long as we dump on Trump. Because Trump Sells Better Than Sex.

Trevor Noah Asks Hillary: “How Did You Kill Jeffrey Epstein?” (ZH)

In what was oh-so-transparently aimed a debunking a so-called “right-wing-conspiracy,” Daily Show host Trevor Noah jokingly asked, during an interview with Hillary and Chelsea Clinton on Thursday, “How did you kill Jeffery Epstein?” “I have to ask you a question that has been plaguing me for a while: How did you kill Jeffrey Epstein?” asked Noah to laughter from the New York studio audience. “Because you’re not in power, but you have all the power. I really need to understand how you do what you do, because you seem to be behind everything nefarious, and yet you do not use it to become president.” “Honestly, what does it feel like being the boogeyman to the right?” the host asked.


Clinton responded by saying it was a “constant surprise.” “Well, it’s a constant surprise to me,” she said. “Because the things they say, and now, of course, it’s on steroids with being online, are so ridiculous, beyond any imagination that I could have. And yet they are so persistent in putting forth these crazy ideas and theories. Honestly, I don’t know what I ever did to get them so upset.” Of course, it would not be Hillary Clinton if she did not take a jab at President Trump proclaiming that, “I don’t think his real philosophy is America First, I think it’s Trump First… [Trump]…clearly does Putin’s bidding…” Forward to around 6:09 for Noah’s Epstein question…

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Jim has a lot of faith in Bill Barr. I am a bit more reserved on that one.

Halloween is Over and the Jig is Up (Kunstler)

And so Nancy Pelosi and Adam Schiff take the Republic into a dangerous defile on a dark day as they engineer a House resolution with rules for a medieval-style inquiry on the existence of phantoms. The phantom du jour, of course, is the fabled “whistleblower,” a CIA ectoplasm identified by everybody and his uncle in Swampland as one Eric Ciarmarella, 33, a former Joe Biden staffer, Obama White House low-level NSC holdover, and John Brennan “asset” deeply involved in Ukrainian pranks during the 2016 election and subsequent disinformation leakage to the media since the early days of the Trump administration.

The “whistleblower’s” trail winds through every shadowy turn of RussiaGate to the current phantasmagoria of UkraineGate, and connects the principal misdeeds carried out along the way including Hillary Clinton’s devious operations with Fusion GPS, the Comey-led FBI’s illegal entanglement with CIA spying on US citizens (including occupants of the White House), and lately the mendacious maneuvers of House Intel Committee chair Mr. Schiff. The notion that Mr. Ciamarella’s identity will remain officially hidden much longer is a joke, since his “complaint” lies at the center of the impeachment process underway, and sooner or later he will be compelled to make public testimony — unless Ms. Pelosi’s House majority votes to rename the USA the Haunted Forest of North America.

And when this unmasked phantom finally faces legitimate cross examination his mischief will be plain for all to see. Do you also suppose that Mr. Ciamarella’s revealed adventures in perfidy have not been noticed by the attorney general, Mr. Barr, and his deputy John Durham? It seems obvious that the Democrats’ mad rush to this wholly irregular impeachment happened in direct, proportional response to the encroaching danger to them posed by the DOJ inspector general’s imminent report and the news a week ago that the AG upgraded his “review” of all things RussiaGate to a criminal inquiry, with grand juries assembled to process indictments.

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Yes, the new rightwing government is screwing things up even more than they were. But this is on the EU.

Greek Refugee Camps ‘On Edge Of Catastrophe’ – EU Watchdog (BBC)

Thousands of people living in “abysmal” refugee camps on two Greek islands are “on the edge of catastrophe”, Europe’s human rights watchdog has said. Dunja Mijatovic, Council of Europe Commissioner for Human Rights, spoke of an “explosive situation” on the Aegean islands, home to 36,000 asylum seekers. Hours later, Greece’s parliament passed a bill to fast-track deportations. The prime minister said refugees would be protected but Greece’s gates would not be thrown open to everyone. The left-wing opposition has criticised the law and some humanitarian groups, including United Nations refugee agency UNHCR, have warned it could restrict protection for asylum seekers.


But centre-right Prime Minister Kyriakos Mitsotakis said the move would deter those not entitled to asylum, telling parliament: “Enough is enough.” Nearly one million migrants refugees, including many fleeing war in Syria, crossed from Turkey to the Greek islands in 2015. Turkey agreed a financial deal with the EU to curb the influx but is still hosting 3.6 million Syrians. In recent months the numbers have surged and all the camps on the Greek islands are filled beyond capacity. [..] In a scathing assessment, Ms Mijatovic said: “The situation of migrants, including asylum seekers, in the Greek Aegean islands has dramatically worsened over the past 12 months. Urgent measures are needed to address the desperate conditions in which thousands of human beings are living.” She described the camps as “vastly overcrowded” places where people “queue for hours to get food and to go to bathrooms, when these are available”.

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Saw the Reuters piece early Friday, thought bigger version would follow. Relevant, though, because WHO would want to fly 737MAX? Not passengers, not crew.

28,000 American Airlines Flight Attendants Refuse To Work On 737 Max (ZH)

Tens of thousands of American Airlines’ flight attendants fear for their safety and will not work on Boeing 737 Max planes if they return to the air in 2020, the Association of Professional Flight Attendants (APFA) union’s president wrote in a letter to Boeing’s CEO this week, reported Reuters. “The 28,000 flight attendants working for American Airlines refuse to walk onto a plane that may not be safe and are calling for the highest possible safety standards to avoid another tragedy,” APFA President Lori Bassani said in the letter (seen by Reuters). Reuters noted the letter was dated Oct. 30, which followed several days of Boeing CEO Dennis Muilenburg being grilled by lawmakers in Washington after two Max crashes killed 346 people and led to a worldwide grounding of the plane in March.

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Don’t know about you, but I like pretty girls in their summer dresses. Should I feel guilty about that now? This feels like something well-intentioned that has gone terribly off the rails.

Apple Introduces Gender-Neutral Versions Of Nearly Every Human Emoji (RT)

The latest iOS 13.2 update is dividing digital fans with dozens of new genderless emoji characters. More choice or a step too far? iOS updates – they drain your battery and cause social anxiety – but the world can relax as the flamingo and otter emojis have finally been released. The update has delivered almost 400 images in total…. and it even includes a gender free vampire. But it seems the new mix of identity politics can stimulate confusion and division. Many online supporters have given a thumbs up to the Unicode Consortium team (that approves new emojis) as gender neutral choices and people with disabilities are now listed. But some fear too many choices are dividing society. Do we really need to be placed into so many boxes and categories?


Emoji characters now have a genderless character as well as male and female. Whoever thought a non-binary vampire even existed? Perhaps the emoji mafia are trying too hard. We have come such a long way since the original emoticon. What started off as a smiley face text two decades ago now equates to hundreds of people that can be represented. But this wasn’t enough, so Emojipedia declared the year 2015 as “the year of Emoji diversity” adding different skin colours, more female characters, gender inclusive people and more hair colours.

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Oct 102019
 
 October 10, 2019  Posted by at 9:50 am Finance Tagged with: , , , , , , , , , ,  13 Responses »


Salvador Dali Grandmother Ana sewing 1920

 

Inside Hunter Biden’s Dealings With Shadowy Foreign Firms (ZH)
Joe Biden ‘Personally Paid $900,000 By Burisma’ – Ukrainian MP (ZH)
An Insult To Real Whistleblowers- Kiriakou (RCP)
Shell To Offset Carbon Emissions For British Fuel Buyers (R.)
Federal Reserve Policymakers Increasingly Divided On Way Ahead (R.)
US Tariffs On China Are Working – Wilbur Ross (R.)
Nearly All Goods Traded By US And China Will Have Tariffs By December 15 (R.)
Chinese Consumers Are On A Worrying Staycation (Lam)
California Set To End Private Prisons And Immigrant Detention Camps (R.)
Owner Of Spanish Security Company That Spied On Assange Arrested (El Pais)
PG&E Power Outage: Lines For Gas, Batteries, Groceries And Generators (LAT)
Seven Latam Nations Suggest Maduro Behind Unrest In Ecuador (R.)
For The First Time Ever, Greece Issues Negative Yielding Debt (ZH)

 

 

I’ve been in a Not The Onion mode all day. It started off with reading that Shell is paying to offset its UK customers’ carbon emissions. For blunt stupidity, that’s hard to beat. That Johnson and Johnson was “ordered to pay $8 billion (!!!) after drug causes man to grow breasts” already seemed more logical after that. That Joe Biden made even more money off Burisma than Hunter did, then seemed perfectly normal. It was all uphill from there.

Inside Hunter Biden’s Dealings With Shadowy Foreign Firms (ZH)

According to the FT, Biden’s business interests “often show up in unexpected places.” While Democrats obviously prefer to focus on their impeachment investigation, there’s no denying that Biden’s business dealings in Ukraine, China and elsewhere clearly raise questions about potential conflicts that existed while his father was in office. Joe Biden has denied wrongdoing, but questions linger over his role in the ouster of a top Ukrainian prosecutor, which some have suggested was done to help protect Hunter. When Hunter joined the Navy Reserves in May 2013, he required several waivers (at 42, he was above the age of enlistment, and there was an unspecified ‘drug-related’ incident that also would have disqualified him).

Despite his apparent eagerness to join, Biden was discharged from the Navy the following year after testing positive for cocaine. Soon after, his more successful older brother, Beau, passed away, and his wife Kathleen filed for divorce, citing Hunter’s “spending extravagantly on his own interests including drugs, alcohol, prostitutes, strip clubs and gifts for women with whom he has sexual relations.” Next, he started dating his brother’s widow. But in between trips to rehab and legendary drug benders. In 2016, shortly after he started dating Hallie Biden, Beau’s widow, Hunter made plans to stay at a detox center in Arizona. But he somehow got sidetracked during a stopover in Los Angeles, and ended up missing the next wing of his flight. Instead, he traveled to Skid Row, where he was reportedly held up at gun point, but nevertheless apparently succeeded in buying and using crack, causing him to return several times over the following days.

Eventually, Hunter Biden took a Hertz rental car to his treatment center in Arizona, but workers at the Hertz office called the police after finding a crack pipe and baggie of crack, along with Biden’s license and a badge from Beau’s time as Delaware AG. Prosecutors declined to pursue the case, claiming a lack of evidence, but it definitely wasn’t a good look for Hunter. More recently, Hunter has been in the headlines for his whirlwind marriage to a South African Instagram model, and for a paternity suit brought by a woman claiming Hunter is the father of her newborn son. Of course, none of these transgressions have stopped Biden from earning millions of dollars off his family name and connections. In Wednesday’s issue, the FT published a breakdown of Biden’s foreign business interests.

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As I said, perfectly normal.

Joe Biden ‘Personally Paid $900,000 By Burisma’ – Ukrainian MP (ZH)

Ukrainian MP Andriy Derkach revealed on Wednesday that former Vice President Joe Biden received $900,000 from Burisma Group for lobbying activities, citing materials related to an investigation. Via Interfax: “Former U.S. Vice President Joe Biden received $900,000 for lobbying activities from Burisma Group, Ukraine’s Verkhovna Rada member Andriy Derkach said citing investigation materials. Derkach publicized documents which, as he said, “describe the mechanism of getting money by Biden Sr.” at a press conference at Interfax-Ukraine’s press center in Kyiv on Wednesday”. -Interfax. “This was the transfer of Burisma Group’s funds for lobbying activities, as investigators believe, personally to Joe Biden through a lobbying company.”


“Funds in the amount of $900,000 were transferred to the U.S.-based company Rosemont Seneca Partners, which according to open sources, in particular, the New York Times, is affiliated with Biden. The payment reference was payment for consultative services,” said Derkach. Derkach also puiblicized sums of money transferred to Burisma Group representatives – including Joe Biden’s son Hunter. “According to the documents, Burisma paid no less than $16.5 million to [former Polish President, who became an independent director at Burisma Holdings in 2014] Aleksander Kwasniewski, [chairman of the Burisma board of independent directors] Alan Apter, [Burisma independent director] Devon Archer and Hunter Biden [who joined the Burisma board of directors in 2014],” Derkach added.

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“If you are represented by Mark Zaid and you’re claiming to be a whistleblower, you are not…”

An Insult To Real Whistleblowers- Kiriakou (RCP)

Former CIA official and whistleblower John Kiriakou weighed in on Ukraine whistleblower being celebrated by the media. Kiriakou called the person a “so-called whistleblower” that is acting anonymously even though they have no undercover position at the CIA, likely an analyst. “I don’t think this is a whistleblower, not at all,” Kiriakou told FNC’s Tucker Carlson. “I think this is an anonymous source for the Democratic staff in the House of Representatives.” “You can’t hide this person’s identity just to save him from embarrassment or trouble of being recognized,” Kiriakou said. “It’s just not appropriate. If this is a whistleblower, he needs to come forward in public, testify in open session and blow that whistle.”


“Even his attorney, Mark Zaid, is one of these CIA insiders. He’s attached at the hip with the CIA. He’s represented dozens of CIA people. He has a CIA security clearance. If you are represented by Mark Zaid and you’re claiming to be a whistleblower, you are not,” Kiriakou said Wednesday.

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Yup, the British are funny.

Shell To Offset Carbon Emissions For British Fuel Buyers (R.)

Royal Dutch Shell said on Thursday it would offset the carbon dioxide emissions of around 1.5 million road users in Britain starting later this month under a loyalty scheme. Shell, like other oil companies, has come under pressure from shareholders to show how it plans to reduce its carbon footprint and help cut greenhouse gas emissions, a major cause of global warming. Britons are increasingly concerned about their environmental impact, with thousands of students striking earlier this year and green group Extinction Rebellion carrying out civil disobedience to push for more ambition on climate change.


Sinead Lynch, Shell UK country chair, said the best way for people to cut their road emissions was to use electric vehicles, supplied with renewable power. “But today the majority of people still use petrol and diesel. We can help them address the impact of their emissions by offsetting their fuel purchases,” she said in a statement. From Oct. 17, emissions relating to fuel purchased by customers with the Shell Go+ app or card will be offset for free until September 2020. Shell said about 20% of its customers were registered with the loyalty scheme. It expects the program to cost roughly 10 million pounds ($12.2 million) and offset emissions from around 1.5 million cars.

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It’s too late to repair their nonsense.

Federal Reserve Policymakers Increasingly Divided On Way Ahead (R.)

Most Federal Reserve policymakers supported the need for an interest rate cut in September, minutes of the central bank’s last policy meeting showed, but they remained divided on the path ahead for monetary policy. The readout of the meeting, released on Wednesday, also showed that the Fed agreed it would soon need to discuss increasing the size of its balance sheet following ructions in short-term money markets. Fed Chair Jerome Powell announced an imminent expansion of the central bank’s assets on Tuesday. Fed policymakers at the Sept. 17-18 meeting decided, in a 7-3 vote, to lower the benchmark overnight lending rate by a quarter percentage point to between 1.75% and 2%.


“Most participants believed that a reduction of 25 basis points in the target range for the federal funds rate would be appropriate,” the Fed said in the minutes. The U.S. central bank has lowered borrowing costs twice this year after having raised interest rates nine times since 2015. But what remains unclear from the minutes is how a softening in economic data since that meeting will affect viewpoints on the need for further rate cuts, if at all. In projections that accompanied the September statement, seven of the Fed’s 17 policymakers indicated they forecast one more rate cut this year. Five policymakers did not see any more cuts needed and the other five projected a rate rise by the end of 2019. Investors overwhelmingly expect another rate cut at the next meeting on Oct. 29-30.

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Working? You sure that’s the right term?

US Tariffs On China Are Working – Wilbur Ross (R.)

Tariffs are forcing China to pay attention to U.S. concerns, Secretary of Commerce Wilbur Ross said in Sydney on Thursday. Ross said the United States would have preferred not to implement tariffs against Chinese goods more than a year ago, but added that it has forced Beijing into action. The trade war has weighed on global growth and roiled financial markets. “We do not love tariffs, in fact we would prefer not to use them, but after years of discussions and no action, tariffs are finally forcing China to pay attention to our concerns,” Ross told a business function held by the American Chamber of Commerce in Australia. “We could have had a deal two-and-a-half years ago without going through the whole tit-for-tat on tariffs that we have.”


Top U.S. and Chinese trade and economic officials will meet in Washington on Thursday and Friday to try to end the escalating dispute. Without a significant breakthrough, Washington is set to hike the tariff rate on $250 billion worth of Chinese goods to 30% from 25% next Tuesday. Negotiators had made no progress in deputy-level trade talks held on Monday and Tuesday in Washington, the South China Morning Post (SCMP) said, citing unidentified sources with knowledge of the meetings. The two sides have been at loggerheads over U.S. demands that China improve protections of American intellectual property, end cyber theft and the forced transfer of technology to Chinese firms, curb industrial subsidies and increase U.S. companies’ access to largely closed Chinese markets.

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Let’s call it a draw?

Nearly All Goods Traded By US And China Will Have Tariffs By December 15 (R.)

U.S. and Chinese negotiators meet in Washington on Thursday and Friday to try, once again, to defuse a trade war that has roiled markets and triggered tit-for-tat tariffs on hundreds of billions of goods traded between the world’s largest economies. The meetings come days after the U.S. Department of Commerce blacklisted 28 Chinese companies, and China and the U.S. started reciprocal visa bans. Chinese officials say they have little expectation of significant progress. If negotiators cannot come to an agreement, a new set of punitive U.S. tariffs kicks in on Oct. 15 on about $250 billion of Chinese goods, and then both countries put tariffs on billions of dollars more of each others’ goods on Dec. 15. Here is what is set to take effect in the next few weeks:

U.S. OCT. 15 INCREASE A proposed Oct. 15 tariff rate boosts to 30% a duty of 25% already in place on at least $250 billion worth of Chinese imports. Set to take effect on Oct. 1, the higher tariff was delayed late in September by Trump “as a gesture of good will.” The 25% tariffs were adopted over nearly a year, from an initial tranche of largely non-consumer goods in July and August 2018, including machinery and electronic components such as semiconductors and printed circuit boards and many chemicals. Later the U.S. added consumer goods and building products, including furniture, vacuum cleaners, lighting fixtures, handbags and vinyl flooring.

U.S. DEC. 15 TARIFF INCREASE Two months later, the U.S. plans to target an additional tariff of 15% at about $300 billion in imports from China. These had already been hit with a tariff of 15% on Sept. 1, in a list mostly of consumer products, based on a Reuters analysis of 2018 U.S. Census Bureau data. It includes flat panel television sets, flash memory devices, power tools, cotton sweaters, bed linens, multifunction printers and some footwear. The largest category of targeted products covers smart watches, smart speakers, Bluetooth headphones and other internet-connected devices spared in a prior round of tariffs, with Chinese imports estimated at $17.9 billion annually by the Consumer Technology Association.

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The numbers are not that impressive, but the trends are clear.

Chinese Consumers Are On A Worrying Staycation (Lam)

China is shopping, just not quite enough. Official numbers after a week-long National Day break showed revenue from domestic tourism climbed 8.5% compared to 2018, the slowest pace in at least 17 years. Retail and dining numbers also failed to dazzle. Beijing wants consumers to help revive a flagging economy, but a weak yuan and the fading impact of tax cuts will keep purse strings tight. Golden Week, which began on Oct. 1, has long offered a snapshot of Chinese consumption. This year, the picture is less than shiny. Spending on retail and dining was up 8.5% compared to a 9.5% increase last year according to Citi, and well below double-digit increases a decade ago. Growth in domestic travel cooled too.

Some 7 million Chinese still ventured overseas, a measure of the country’s increasing wealth, but the number of outbound travellers in the first six days of October fell 15% compared to a year ago. In part that was due to China’s anniversary celebrations, and Hong Kong hardly helped: anti-government protests there have prompted numbers coming over the border to fall precipitously. But it measures wider household concerns. Instead, it was the small luxuries that did well, like trips to the movies. Patriotic flicks including ‘My People, My Country’ – stories inspired by China’s history – drew record box office revenue and over 100 million viewers during the holiday, according to Xinhua.

Beijing, which usually leans on infrastructure to stimulate the economy, has increasingly turned to consumers too. Stimulus measures, including a personal income tax unveiled late last year, did help lift disposable incomes by 8.8% in the first half. That would have been 7.2% without the boost, reckons analyst Ernan Cui of Gavekal Dragonomics. Unfortunately, that’s not feeding into shopping baskets fast enough, given it impacted wealthier households more.

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The very idea of “privately outsourced incarceration” is so insane we should never even consider it.

California Set To End Private Prisons And Immigrant Detention Camps (R.)

America’s largest state prison system is moving to quit the practice of farming out inmates to lockups run under contract by private companies, following a nationwide decline in the for-profit incarceration business. California Governor Gavin Newsom is expected to sign legislation this week designed to effectively ban private, for-profit corporations from running prisons or immigration detention facilities. Sponsors of the measure say it will end a brief but hapless experiment in privately outsourced incarceration begun as a means to ease overcrowding – an endeavor Newsom branded an outrage when he took office in January.


Bill supporters say private prisons, driven to maximize shareholder profits, lack proper oversight or incentives to rehabilitate inmates, and have contributed to a culture of mass incarceration by making it cheaper to lock up people. They point to research cited in a 2016 U.S. Justice Department Office of Inspector General report that found private prisons spend less on personnel, and are less safe, than public institutions. “This is a total and complete failure, and it’s hurting and abusing Californians,” said state Assemblyman Rob Bonta, a chief author of the bill.

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Yeah, well, the horse and the barn.

Owner Of Spanish Security Company That Spied On Assange Arrested (El Pais)

David Morales, the owner of the Spanish security company that was in charge of protecting the Ecuadorian embassy in London while Julian Assange was living there, has been arrested and released on bail, judicial sources have told EL PAÍS. The director of UC Global S. L. is being investigated by Spain’s High Court, the Audiencia Nacional, after allegedly ordering the private conversations of the WikiLeaks founder to be spied on, as well as supposedly passing the information collected to the United States’ intelligence services. Morales’ arrest took place on September 17 in the southern Spanish city of Jerez de la Frontera, which is where the security firm is based. The information had not come to light until now given that the investigation is under seal.


Police officers searched the company’s offices and also seized hard disks and documents, all of which are now being analyzed by the judge in charge of the case, José de la Mata. According to judicial sources, two firearms with their serial numbers erased were found in Morales’ home, as well as €20,000 in cash. Morales was taken to Madrid were he was questioned at the High Court before being released on bail. His passport was taken from him and his bank accounts frozen. He currently has to check in at the High Court every two weeks. [..] After the revelations were published by EL PAÍS, Assange’s defense team filed a criminal complaint against Morales, in which he is accused of alleged privacy offenses as well as the violation of attorney-client privilege, misappropriation of funds, bribery and money laundering.

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A glimpse of your future.

PG&E Power Outage: Lines For Gas, Batteries, Groceries And Generators (LAT)

The massive blackouts imposed across Northern California on Wednesday led to a run on gasoline, portable generators and other supplies while retailers struggled to serve customers. Millions were expected to lose power as Pacific Gas & Electric shut down service in a bid to avoid wind-driven fires caused by downed power lines. Angie Sheets of El Dorado Hills outside Sacramento noticed that generators were flying off the shelves at the local Costco as she shopped for groceries earlier in the week. Considering the nearly $1,000 worth of food she planned to purchase and the imminent power outage, Sheets said she called her husband to talk about buying a generator for their home. “By the time I had done that, the last big generator was gone off the shelves,” she said. Her husband, a law enforcement officer, later found a generator at a Costco in Rancho Cordova.

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You sure it wasn’t Putin? How about Ukraine?

Seven Latam Nations Suggest Maduro Behind Unrest In Ecuador (R.)

Seven Latin American countries reject any attempt by Venezuelan President Nicolas Maduro to destabilize democracies in the region and back Ecuadorean President Lenin Moreno as he tries to calm unrest, Peru’s foreign ministry said on Tuesday, speaking on behalf of the group. A statement from the Peru’s foreign ministry said that it as well as Argentina, Brazil, Colombia, El Salvador, Guatemala and Paraguay all expressed their “firm backing for actions taken by President Lenin Moreno” and “reject any action aimed at destabilizing our democracies by the regime of Nicolas Maduro.”

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Still bankrupt though.

For The First Time Ever, Greece Issues Negative Yielding Debt (ZH)

As armies of fixed income strategists battle over whether US Treasuries are facing higher or lower yields, Greece has no such qualms and in a historic shift today, the former bond market pariah and Eurozone’s most indebted nation, joined the exclusive club of negative-yielding European nations when bond investors lined up to pay the nation that was at the heart of Europe’s sovereign debt crisis. A sale of €487.5 million of 13-week bills on Wednesday drew Greece’s first-ever negative yield of minus 0.02% as investors now pay Athens for the privilege of lending it cash, as Bloomberg first reported. Greece joins the likes of Ireland, Italy and Spain – not to mention virtually all core Eurozone nations – which benefit from the ECB’s insane monetary policy and deepening fears of a global recession.


It’s been an unprecedented turnaround for twice bankrupt Eurozone member, whose bondholders suffered massive losses back in March 2012 when the country was forced to accept the biggest bond restructuring in history, bringing the Eurozone to the verge of collapse. Just a few years and several trillions in bond purchases by the ECB later, the region is grappling with an altogether different problem – the spread of negative yields, which reduces borrowing costs for governments in a form of soft default, one which is crushing savers, pension funds and insurers, and which has prompted some of the most respected names in finance to shriek in terror as the cost of money in even Europe’s most insolvent nations is now negative.

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Oct 052019
 


Pablo Picasso Head of a bearded man 1940

 

Democrats Subpoena White House For Ukraine Documents (ZH)
2nd Whistleblower May File Complaint About Trump/Ukraine: New York Times (RawS)
House Democrats Target Pence Over Ukraine; Peddle Fiction Over ‘Favor’ (ZH)
Newly Released Rosenstein Emails Reveal Crusade To Investigate Trump (ZH)
Do You Have a Lisance for that Minky? (Kunstler)
Boris Johnson Brexit Plan Hangs By Thread As EU Dismisses Weekend Talks (G.)
China Has No Room for Dissenting Friends (FP)
PayPal Becomes First Member To Exit Facebook’s Libra Association (R.)
Regulators Weigh ‘Startle Factors’ For Boeing 737 MAX Pilot Training (R.)
Boeing Crash Victims’ Lawyer To Seek Testimony From 737 MAX Whistleblower (R.)
Greece Needs To Face Reality About Asylum Seekers (HRW)
Air Pollution And Human Health Impacts Of Cryptocurrency Mining (SD)

 

 

This is not how US election campaigns used to look.

Democrats Subpoena White House For Ukraine Documents (ZH)

Just one day after President Trump dared House Speaker Nancy Pelosi to hold an impeachment inquiry vote – a move which would open Democrats up to Republican subpoenas, House Democrats slapped the White House with a subpoena first. Addressed to acting White House Chief of Staff Mick Mulvaney, the subpoena demands documents and communications related to the case being constructed against Trump – namely that his request that Ukraine investigate former Vice President Joe Biden and his son for corruption constitutes election interference and endangered national security. Of note, the Justice Department concluded that Trump’s phone call with Zelensky did not violate campaign finance law.

“How the White House, which has routinely rejected congressional requests for information, responds to the demands for documents could significantly shape the impeachment investigation going forward. Under normal circumstances, the White House could claim materials referred to in both requests were privileged, using that as a defense in court.” -New York Times. What Democrats aren’t pursuing, by the by, is anything resembling due diligence on Biden – the (still) leading Democratic candidate trying to fend off accusations of nepotism in Ukraine and China while abusing his office as Vice President. As we noted earlier Friday, Vice President Mike Pence was hit with a subpoena as well over, demanding information on “any role you may have played” in helping with the Ukraine effort against Biden.


Pence press secretary Katie Waldman said “given the scope, it does not appear to be a serious request but just another attempt by the ‘Do Nothing Democrats’ to call attention to their partisan impeachment.” Pelosi and House Intelligence Committee Chairman Adam Schiff (D-CA) have warned that failure to comply with subpoenas will be viewed as obstruction of Congress – which the Times says is “itself a potentially impeachable offense.” “The White House has refused to engage with — or even respond to — multiple requests for documents from our Committees on a voluntary basis,” reads the subpoena, demanding information by October 15. “After nearly a month of stonewalling, it appears clear that the president has chosen the path of defiance, obstruction, and cover-up.”

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Also CIA.

2nd Whistleblower May File Complaint About Trump/Ukraine: New York Times (RawS)

President Donald Trump’s impeachment inquiry continues to grow, according to a bombshell new report in The New York Times. “A second intelligence official who was alarmed by President Trump’s dealings with Ukraine is weighing whether to file his own formal whistle-blower complaint and testify to Congress,” The Times reported, citing two people briefed on the matter. “The official has more direct information about the events than the first whistle-blower, whose complaint that Mr. Trump was using his power to get Ukraine to investigate his political rivals touched off an impeachment inquiry,” the newspaper explained. “The second official is among those interviewed by the intelligence community inspector general to corroborate the allegations of the original whistle-blower, one of the people said.”


“A new complaint, particularly from someone closer to the events, would potentially add further credibility to the account of the first whistle-blower, a C.I.A. officer who was detailed to the National Security Council at one point,” the newspaper noted. “Whistle-blowers have created a new threat for Mr. Trump. Though the White House has stonewalled Democrats in Congress investigating allegations raised in the special counsel’s report that Mr. Trump obstructed justice, the president has little similar ability to stymie whistle-blowers from speaking to Congress.”

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If both Trump and Pence are impeached, Nancy Pelosi is next in line to become president.

But the Dems won’t get any documents until they hold a House vote.

House Democrats Target Pence Over Ukraine; Peddle Fiction Over ‘Favor’ (ZH)

House Democrats on Friday roped Vice President Mike Pence into their investigation into whether President Trump “jeopardized national security” by asking Ukraine to investigate what looks like obvious corruption by former Vice President Joe Biden and his son Hunter. In a letter from Democratic House Committee Chairs Eliot Engel (NY), Adam Schiff (CA) and Elijah Cummings (MD), Pence is given a deadline of October 15 to turn over all documents related to President Trump’s April 21 and July 25 phone calls with Ukrainian President Volodymyr Zelensky. The letter also requests all communications between administration officials regarding the calls, as well as information concerning Trump attorney Rudy Giuliani’s efforts to investigate or pressure Ukraine to investigate the Bidens.


Of note, the letter danced around a popular lie about the call between Trump and Zelensky: According to the record, President Trump stated, “I would like you to do us a favor though.” He also stated, “I would like to have the Attorney General call you or your people and I would like you to get to the bottom of it.” The letter then jumps to a transcript of the July 25 phone call in which Trump said: “There’s a lot of talk about Biden’s son, that Biden stopped the prosecution and a lot of people want to find out about that so whatever you can do with the Attorney General would be great.” Meanwhile, House Democrats purposely conflate Trump’s “favor” – which was actually for the investigation of the DNC servers involving their contractor Crowdstrile – and the Biden investigation.

 

If Pence refuses to comply, the chairmen say it “shall constitute evidence of obstruction” in their impeachment inquiry. For those keeping track – Rep. Schiff lied when he said his office had no contact with the whistleblower (which earned him ‘four Pinocchios’ from the Washington Post). Schiff also fabricated a quote from the Trump-Zelensky call which he read during an official hearing. And now, he and two other House Democratic chairs are doing their best narrative shaping by misrepresenting more facts.

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Not looking good.

Newly Released Rosenstein Emails Reveal Crusade To Investigate Trump (ZH)

New emails obtained through a Freedom of Information Act (FOIA) lawsuit reveal the details surrounding communications between Deputy Attorney General Rod Rosenstein and Robert Mueller in the days leading up to the former FBI Director’s appointment as special counsel in the Russia probe. Mueller would go on to assemble a team comprising “13 Angry Democrats” as Trump called them, due to their obvious animus towards the president. According to the 145 pages of documents obtained by Judicial Watch, Rosenstein and Mueller were discussing just three days after President Trump fired former FBI Director James Comey, and ostenisbly for some time before that.


“The boss and his staff do not know about our discussions,” Rosenstein wrote Mueller on May 12, 2017 as the two tried to nail down a time for their next conversation. Four days later on May 16- the day before Mueller’s appointment, Rosenstein told former Bush administration Deputy Attorney General and current Kirkland & Ellis Partne, Mark Filip “I am with Mueller. He shares my views. Duty Calls. Sometimes the moment chooses us.” “And on May 17 Rosenstein appointed former FBI Director Robert Mueller to investigate Russian meddling in the 2016 presidential election. Also, during the same time period, between May 8 and May 17, Rosenstein met with then-acting FBI Director Andrew McCabe and other senior Justice Department FBI officials to discuss wearing a wire and invoking the 25th Amendment to remove President Trump.” -Judicial Watch

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“..that claque of lesser monsters who cooked up the coup to overthrow the president, and botched the job.”

Do You Have a Lisance for that Minky? (Kunstler)

[..] what if it turns out that there actually is no Whistleblower, that the figure was just a fiction, a CGI figment cooked up by Adam Schiff, his lawyers, and sundry other players on the Deep State bench? Sounds outlandish perhaps, but I wouldn’t put it past the congressman from Hollywood. We’ll find out soon enough. Meanwhile, it appears that the purported Whistleblower and his chief handler, Intelligence Community Inspector General (ICIG) Michael Atkinson failed to observe the proper procedures in reporting the complaint through channels, not to mention the legerdemain of sketchy paperwork that attested to the complaint.

Remember who Michael Atkinson is: the former legal counsel to John P. Carlin, who was Assistant Attorney General for National Security during the origin months of the RussiaGate operation in the summer of 2016, and before that chief of staff to… wait for it… Robert Mueller, when he was FBI Director. Do you begin to detect a claque of senior bureaucrats scrambling to cover each other’s ass? Interesting days ahead as this feculent blob of malfeasance creepy-crawls through the spooky weeks of October, climaxing in Halloween. These are the weeks when the DOJ Inspector General’s report on FISA court shenanigans comes down. It’s also the month of the Brexit Absolute Deadline.


That hairball over in Old Blighty might seem of unconcern over here, but it contains enough explosive power to destabilize the European banking system and, with it, America’s, which would lead to some rather scary action in the bond and equity markets at exactly the time of year when accidents like that happen. And then, deeper in the background, like Hades and Thanatos, stand the grave figures of Barr and Durham, whose very silence lo these many months must be giving the vapors to that claque of lesser monsters who cooked up the coup to overthrow the president, and botched the job.

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“..no basis for such discussions, given the British prime minister’s insistence on there being a customs border on the island of Ireland.”

Boris Johnson Brexit Plan Hangs By Thread As EU Dismisses Weekend Talks (G.)

Boris Johnson’s Brexit plans look to be falling apart as the European commission said there are no grounds to accept a request from the UK for intensive weekend negotiations two weeks before an EU summit. EU sources said there was no basis for such discussions, given the British prime minister’s insistence on there being a customs border on the island of Ireland. Johnson’s chief negotiator, David Frost, along with a team of a dozen British officials, failed to convince their EU counterparts in Brussels on Friday that he had a mandate from Downing Street to compromise on what the EU sees as major flaws in the UK government’s proposals. Frost had been seeking to rescue the British prime minister’s proposed deal after it was strongly criticised.


The EU’s chief negotiator, Michel Barnier, had told diplomats on Thursday evening that the British needed to “fundamentally amend their position”. A European commission spokeswoman said: “We have completed discussions with the UK for today. We gave our initial reaction to the UK’s proposals and asked many questions on the legal text. “We will meet again on Monday to give the UK another opportunity to present its proposals in detail.” The spokeswoman added that the proposals did not “provide a basis for concluding an agreement”. An EU official said: “The UK often asks for meetings to keep [the] process going; we agree we should leave no stone unturned. But there is nothing useful that could be done this weekend.”

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Muslim silence on Uighurs.

China Has No Room for Dissenting Friends (FP)

In July this year, 22 Western-aligned countries issued a joint statement to the high commissioner of the United Nations’ Human Rights Council objecting to China’s abuses against the Uighur Muslim minority in Xinjiang province. That’s not unusual: The reports of human rights abuses in the province are coming out thick and fast, and Western countries are more than happy to raise concerns against such abuses, whether out of genuine concern, domestic virtue signaling by political leaders, or the use of any available stick to whack a geopolitical rival.

What was remarkable was the 37 countries issuing a counter letter praising China’s human rights record, from humanitarian luminaries including such as Syria, Myanmar, and North Korea. More interestingly, about half of the signatories of this letter were Muslim-majority countries. If the issues had been about Palestinians or even the Rohingya, one might expect the usual cynical domestic virtue signaling by political leaders around the well-worn claims of Muslim solidarity. Instead, they chose to loudly broadcast their support for Beijing’s policy of eradicating the old Islamic culture of the ancient Silk Road gateway to the Chinese heartland in Xinjiang.


The calculation of such leaders, from Turkish President Recep Tayyip Erdogan to Mohammed bin Salman, the de facto head of government of Saudi Arabia, the custodian of the Two Holy Mosques, is well understood and publicized: “Muslim solidarity” is a convenient and effective slogan to be thrown at domestic audiences, but if your national economy—and the personal profits of the elite—depends on the goodwill of Beijing, then you must defer to China’s supposedly sovereign right to do as it pleases within its borders, and forget about the umma.

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Won’t be the last.

PayPal Becomes First Member To Exit Facebook’s Libra Association (R.)

U.S. payments processor PayPal said on Friday it was leaving Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra, making it the first member to exit the group. PayPal said it would forgo any further participation in the group and would instead focus on its own core businesses. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future,” PayPal said in a statement. In response, Geneva-based Libra Association said it was aware of the challenges lying ahead in its attempts to “reconfigure” the financial system.


“The type of change that will reconfigure the financial system to be tilted towards people, not the institutions serving them, will be hard. Commitment to that mission is more important to us than anything else. We’re better off knowing about this lack of commitment now, rather than later”, Libra Association said in a statement. Facebook declined to comment.

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Now it’s ‘pilot overload’. And software of course. But the pilots were not overloaded, the hardware didn’t work.

Regulators Weigh ‘Startle Factors’ For Boeing 737 MAX Pilot Training (R.)

Global regulators are looking at “startle factors” that can overwhelm pilots as they consider revised protocols for the Boeing 737 MAX, Nicholas Robinson, the head of civil aviation for Transport Canada, told Reuters on Friday. Boeing Co’s fastest-selling jetliner, the 737 MAX, was grounded worldwide in March after two fatal crashes that killed a total of 346 people within five months. Pilot overload appears to have played a role in both crashes, in which crews struggled to regain control of the airplane while a new flight control system repeatedly pushed the nose down amid a series of other audio and sensory alarms and alerts. “What we need to do is ensure that the aircrew in the MAX are able to handle that environment,” Robinson said in an interview with Reuters.

Transport Canada is among a core group of regulators that is evaluating the requirements for the 737 MAX to fly again after a seven-month grounding. It has been convening weekly by phone, video conferences or face-to-face with the U.S. Federal Aviation Administration and its counterparts in the European Union and Brazil, Robinson said. Their decisions could lead to sweeping changes to pilot flight operating manuals and classroom instruction and even mandates for costly simulator training, industry sources have said. However, no training decisions can be made until Boeing submits software updates to the FAA for review and approval, Robinson said.


Transport Canada is closely aligned with the European Union Aviation Safety Agency on return to service demands and has also raised questions over the architecture behind the 737 MAX’s angle of attack system. “We continue to look for a solution proposed by the manufacturer and the FAA on that area,” he said. Still, Canada’s goal is for the MAX to return in countries across the globe simultaneously, or at least in close succession. “It’s not a necessity, but it’s a goal,” Robinson said.

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What is it about October and whistleblowers?

Boeing Crash Victims’ Lawyer To Seek Testimony From 737 MAX Whistleblower (R.)

An attorney representing families of passengers killed in a Boeing Co 737 MAX crash in Ethiopia said on Friday he will seek sworn evidence from a Boeing engineer who claims the company rejected a proposed safety upgrade to the 737 MAX because it was too costly. The engineer, Curtis Ewbank, said the upgrade could have reduced risks that contributed to two fatal crashes in Indonesia and Ethiopia that together killed 346 people, according to two people familiar with the complaint. Ewbank filed the complaint through internal Boeing channels after the March crash of Ethiopian Airlines flight 302, the sources said. The sources described the complaint to Reuters, but Reuters has not seen a copy of the complaint.


Managers rejected the proposed upgrade from Ewbank’s team of engineers, called synthetic airspeed, on the basis of “cost and potential (pilot) training impact,” according to the Seattle Times, which first reported the complaint on Wednesday. Robert Clifford, the lead counsel representing families of victims from the Ethiopian Airlines crash, said in an email the complaint raises fresh concerns about Boeing’s culture and whether the company placed too great an emphasis on cost and schedule at the expense of safety. He said he would take steps to depose Ewbank as quickly as possible.

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Things are getting out of hand again. Hundreds of refugees daily, courtesy of Erdogan. A right wing government is not going to help. Still a dumb headline though.

Greece Needs To Face Reality About Asylum Seekers (HRW)

The Greek islands are under the spotlight again, as a new wave of tragic events has hit asylum seekers trapped there. On 29 September, a big fire broke out in Moria – the notorious camp on the island of Lesbos – killing one woman, and injuring at least nine more people, including a baby, the health ministry reported. On 24 September, a truck killed a five-year-old Afghan boy who was playing just outside Moria. The number of asylum seekers crossing the Aegean from Turkey is also increasing. With camps already overcrowded, conditions are horrific for asylum seekers and migrants trapped there. According to the government’s most recent figures, 26,753 women, men and children live in camps designed for about 6,300. The number has almost doubled since June.


But while the numbers have increased, neither the horrible conditions nor the flawed policies that cause them are new. Underinvestment, a poorly functioning asylum system, and a deliberate policy choice to confine asylum seekers to islands has left thousands trapped there for months or years in inhuman and degrading conditions. Forcing migrants and asylum seekers to remain on the islands was ostensibly to expedite their return to Turkey under the March 2016 EU-Turkey deal. But on 11 September, Gerald Knaus, head of a research organisation whose ideas inspired the EU-Turkey deal, wrote that: “The situation on Greek islands is unacceptable, the asylum system on the verge of collapse. This is a moment of truth.”

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Abstract of an academic study published at Science Direct.

Air Pollution And Human Health Impacts Of Cryptocurrency Mining (SD)

Cryptocurrency mining uses significant amounts of energy as part of the proof-of-work time-stamping scheme to add new blocks to the chain. Expanding upon previously calculated energy use patterns for mining four prominent cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Monero), we estimate the per coin economic damages of air pollution emissions and associated human mortality and climate impacts of mining these cryptocurrencies in the US and China. Results indicate that in 2018, each $1 of Bitcoin value created was responsible for $0.49 in health and climate damages in the US and $0.37 in China.


The similar value in China relative to the US occurs despite the extremely large disparity between the value of a statistical life estimate for the US relative to that of China. Further, with each cryptocurrency, the rising electricity requirements to produce a single coin can lead to an almost inevitable cliff of negative net social benefits, absent perpetual price increases. For example, in December 2018, our results illustrate a case (for Bitcoin) where the health and climate change “cryptodamages” roughly match each $1 of coin value created. We close with discussion of policy implications.

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The child who is not embraced by the village will burn it down to feel its warmth.

– African proverb

 

 

 

 

Sep 102019
 
 September 10, 2019  Posted by at 9:23 am Finance Tagged with: , , , , , , , , , , ,  5 Responses »


Marc Chagall The painter to the moon 1917

 

 

To everyone used to receiving Automatic Earth posts in their email, I’m sorry but since Saturday they’re suddenly bouncing again en masse. This makes me very tired by now, but I’ll look for a solution. I suspect there may be a connection between this and Google accusing me of violating their rules, without telling me what rules I’m supposed to have violated.

 

 

 

 

Real US Debt Levels Could Be A Shocking 2,000% of GDP (CNBC)
Boris Johnson Loses Second Attempt To Trigger Early General Election (Ind.)
Parliament Suspension Begins As Johnson’s Election Bid Fails (BBC)
MPs Order Boris Johnson To Hand Over Government Communications (Ind.)
Why Europe Remains Unfazed By The UK’s Ongoing Political Drama (MW)
Judge Lets Facebook Privacy Class Action Proceed, Calls Company’s Views ‘So Wrong’ (R.)
And The Word Was God (Kunstler)
How 50 Years Of The ‘Nobel Prize’ In Economics Redrew Our Map Of Society (PEP)
Over 700 Migrants Cross Into Greece Over the Weekend (GR)

 

 

At this stage, what’s the difference between 1,000% and 2,000%?

Real US Debt Levels Could Be A Shocking 2,000% of GDP (CNBC)

Total potential debt for the U.S. by one all-encompassing measure is running close to 2,000% of GDP, according to an analysis that suggests danger but also cautions against reading too much into the level. AB Bernstein came up with the calculation — 1,832%, to be exact — by including not only traditional levels of public debt like bonds but also financial debt and all its complexities as well as future obligations for so-called entitlement programs like Social Security, Medicare and public pensions. Putting all that together paints a daunting picture but one that requires nuance to understand. Paramount is realizing that not all of the debt obligations are set in stone, and it’s important to know where the leeway is, particularly in the government programs that can be changed either by legislation or accounting.


“This conceptual difference is important to acknowledge because this lens is often used by those who wish to paint a dire picture about debt,” Philipp Carlsson-Szlezak, chief U.S. economist at AB Bernstein, said in the report. “While the picture is dire, such numbers don’t prove we are doomed or that a debt crisis is inevitable.” Crisis measures cut both ways — sometimes a seemingly smaller level of debt can cause outsized problems during times of economic stress, such as during the financial crisis. And larger levels of debt can be sustained so long as other conditions, like leverage levels, or debt to capital, are manageable.

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He lost all 6 of his first 6 votes. Unique.

Boris Johnson Loses Second Attempt To Trigger Early General Election (Ind.)

Boris Johnson has lost his second attempt to trigger an early general election in his sixth humiliating Commons defeat since becoming prime minister. Ahead of parliament being suspended by the government for five weeks, MPs opposed to a no-deal Brexit again deprived the prime minister of the required votes for an early poll in the last major showdown of the current session. Less than a week after his first bid to seek an election was scuppered, Mr Johnson again asked the Commons to vote on a motion to bypass a law setting out that the next vote should not take place until 2022.


From Dutch newspaper NRC

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5 whole weeks, But trust me, they won’t be silent weeks.

Parliament Suspension Begins As Johnson’s Election Bid Fails (BBC)

Parliament has officially been suspended for five weeks, with MPs not due back until 14 October. Amid unusual scenes in the House of Commons, some MPs protested against the suspension with signs saying “silenced” while shouting: “Shame on you.” It comes after PM Boris Johnson’s bid to call a snap election in October was defeated for a second time. Opposition MPs refused to back it, insisting a law blocking a no-deal Brexit must be implemented first. In all, 293 MPs voted for the prime minister’s motion for an early election, far short of the two thirds needed. Parliament was suspended – or prorogued – at just before 02:00 BST on Tuesday.


As Speaker John Bercow – who earlier announced his resignation – was due to lead MPs in a procession to the House of Lords to mark the suspension, a group of angry opposition backbenchers appeared to try to block his way. It is normal for new governments to suspend Parliament, but the length and timing of the prorogation in this case has sparked controversy.

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Wonder how they’re going to go about not complying.

MPs Order Boris Johnson To Hand Over Government Communications (Ind.)

Boris Johnson’s government has suffered another humiliating Commons defeat, as MPs ordered the release of internal communications between the prime minister’s top advisers over the decision to suspend parliament. The emergency motion – passed by 311 to 302 votes – means the government will also be forced to publish its no-deal planning documents under Operation Yellowhammer. Put forward by the ex-Tory MP Dominic Grieve, the motion orders ministers to surrender the documents by Wednesday and includes the private communications of Mr Johnson’s chief-of-staff, Dominic Cummings. It demands “all correspondence, whether formal or informal in both written and electronic form” relating to the prorogation sent by officials since the day before Mr Johnson’s arrival in office on 24 July.


And their emergency motion makes clear this should include messages sent via the WhatsApp, Facebook Messenger, Telegram and Signal apps, by text or iMessage and from “private email accounts both encrypted and unencrypted”. It lists nine individuals in Mr Johnson’s administration, including Mr Cummings, Hugh Bennett, Simon Burton, Dominic Cummings, Nikki da Costa, Tom Irven, Sir Roy Stone, Christopher James, Lee Cain and Beatrice Timpson. Mr Grieve, who is now sitting as an independent MP after losing the Tory whip, said public officials had given him information relating to prorogation that informed him “they believed the handling of this matter smacked of scandal”.

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Europe at least pretends it has bigger fish to fry. Ireland, Holland, Belgium, France will be hit, but many others truly don’t care much.

Why Europe Remains Unfazed By The UK’s Ongoing Political Drama (MW)

Reason No. 1: the economy, and an end to uncertainty. Trust Macron to come back swinging at the next EU council meeting mid-October, when a possible request for an extension might be discussed if U.K. Prime Minister Boris Johnson abides by the law voted by Parliament. In March, the French president argued that it would be a waste of time. Others were in favor of granting the U.K. a longer extension, of up to a year. The irony is that Macron defends the same line as the hardest Brexiteers — mainly that there is a cost to uncertainty that at some point may exceed the cost of a no-deal Brexit. [..]

Reason No. 2: Diplomacy, and an EU desire to move on. A new European Commission is taking over on Nov. 1 — the day after the Brexit deadline — and Europe has challenges of its own to focus on. The influence of euroskeptic governments and movements on the EU’s deliberations is the first challenge, just as the EU has embarked on the tough discussions over its multiyear budget. Europe also needs to come together on the many challenges it is facing: whether to boost joint defense capabilities or what policy to adopt toward Russia, for example, in addition to optimizing its positioning vis-à-vis U.S. President Donald Trump. [..]


Reason No. 3: Politics, and the fact that Brexit isn’t a European domestic problem. For EU leaders, there is little political capital to lose by playing hardball with London. Brexit has never been a European problem, and it never figured as a topic in the many national electoral campaigns that have taken place since the Brexit referendum in 2016. EU leaders don’t even really care about the possible blame game that would follow a hard Brexit, if they appear to have slammed the door on London.

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Facebook is the opposite of privacy, that’s its business model.

Judge Lets Facebook Privacy Class Action Proceed, Calls Company’s Views ‘So Wrong’ (R.)

A federal judge on Monday ordered Facebook to face most of a nationwide lawsuit seeking damages for letting third parties such as Cambridge Analytica access users’ private data, calling the social media company’s views on privacy “so wrong.” While dismissing some claims, U.S. District Judge Vince Chhabria in San Francisco said users could try to hold Facebook liable under various federal and state laws for letting app developers and business partners harvest their personal data without their consent on a “widespread” basis. He rejected Facebook’s arguments that users suffered no “tangible” harm and had no legitimate privacy interest in information they shared with friends on social media.


“Facebook’s motion to dismiss is littered with assumptions about the degree to which social media users can reasonably expect their personal information and communications to remain private,” Chhabria wrote. “Facebook’s view is so wrong.” A Facebook spokeswoman said the company considered protecting people’s information and privacy “extremely important,” but believed its practices were consistent with its disclosures and “do not support any legal claims.” Lesley Weaver and Derek Loeser, two of the plaintiffs’ lawyers, said in a joint statement that they were pleased with the decision, and “especially gratified that the court is respecting Facebook users’ right to privacy.”

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Jim standing up for teaching proper language skills.

And The Word Was God (Kunstler)

Enough about me. Obviously, the racial shuffle has been going on for decades in the New York City school system, but in these times of white privilege and intersectionality, the escape routes of G & T and SP must be plugged. No extra gruel for you! But I have a remedy for the persistent problem of underperformance, one that has not really been tried: intense concentration, starting in preschool and going forward as long as necessary, in spoken English. Language is the foundation of learning, certainly of reading skill, and too many children just can’t speak English. Without it, they’ll be unable to learn anything else, including math. The reasons for their poor language skills are beside the point.


Whether they are newcomers from foreign lands or the descendants of slaves, they need to learn how to speak English and to do it correctly, with all the tenses and correct verbs. They need to be intelligible to others and to themselves to make sense of the world. The resistance to this idea would be mighty and furious, I’m sure. Some people will always be smarter than others, but the disparities at issue are badly aggravated by poverty in language. We don’t even pretend to want to take the obvious steps to correct this, even though it is obviously correctable. Learning anything puts people out of their comfort zone, so that can’t be used as an excuse. Diversity in language is a handicap, and it does not make you specially abled. In the beginning was the Word, and the Word was with God, and the Word was God.

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I used to rant a lot against the Fauxbel, haven’t for a bit. But my friend Steve Keen is involved in this round.

How 50 Years Of The ‘Nobel Prize’ In Economics Redrew Our Map Of Society (PEP)

Who shaped our world more Neil Armstrong, Jimi Hendrix, or the King of Sweden? By any standards, 1969 was a momentous year. Neil Armstrong was the first person to walk on the moon, half a million people came to Woodstock to hear Jimi Hendrix, and the Stonewall riots kicked off the gay liberation movement. The same year, less well remembered, an event in Stockholm arguably shaped our world today even more. And not for the best. Fifty years ago this year, the King of Sweden presented with royal pomp the first ever Nobel medals in economics. The prize has been dogged by controversy ever since. Alfred Nobel the founder of the awards never wanted an economics prize, his descendants want it scrapped and the economist F.A. Hayek said it was dangerous.

That’s not the half. Serious thinkers argue that the prize in ‘economic sciences’, as it’s called, has given economic ideas which favour the rich and powerful the gloss of scientific truth. The prize, still paid for every year by Sweden’s Central Bank, has helped weaken democratic control of money, they argue, and helped one school of economic thought – known as neoclassical – dominate the rest. It has contributed to a crisis of conformity in economics and trouble well beyond the ivory tower. This narrow economic thinking celebrated by the Nobels has often ignored, and exacerbated, the multiple crises staring us in the face: ecological breakdown, financial crashes, and politically toxic inequality.


Take the 2018 winner William Nordhaus: his models may have delayed action on climate change. Or consider the 1997 winners Robert Merton and Myron Scholes: their hedge fund had to be bailed out to the tune of $3.6 billion less than a year after they won the prize. Or wrap your head around the equations of the 1996 winner, James Mirrlees, whose work contributed to plummeting tax on the super-rich around the world. All of these “contributions” are described as economic science: the political values and choices inherent in the models are rarely acknowledged or discussed. Debate is closed down.

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It may have started again. Erdogan is threatening to send over 5.5 million refugees and migrants if a safe area in northern Syria in not funded by the west.

Over 700 Migrants Cross Into Greece Over the Weekend (GR)

At east 207 migrants landed just on the island of Lesvos early on Monday, bringing the total number of illegal migrants landing on all Aegean islands over the weekend to 726. As migrant flows increase, Greek premier Mitsotakis said that Turkey should not try to coerce either Greece or Europe in its attempts to receive support for a plan to resettle Syrian refugees in northern Syria. Turkey is currently proposing to resettle one million refugees there, and it may reopen the route for illegal immigrants to flow into Europe if it does not receive adequate international support for the plan, President Tayyip Erdogan said on Thursday.


“Mr. Erdogan must understand that he cannot threaten Greece and Europe in an attempt to secure more resources to handle the refugee (issue),” Mitsotakis told a news conference in the northern Greek city of Thessaloniki. “Europe has given a lot of money, six billion euros in recent years, within the framework of an agreement between Europe and Turkey and which was mutually beneficial,” the Greek PM said.

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