Aug 242019
 


Frank Walton Crows on a beach 1884

 

World Needs To End Risky Reliance On US Dollar: BoE’s Carney (R.)
China Strikes Back At US With New Tariffs On $75 Billion In Goods (R.)
Trump Heaps Another 5% Tariff On Chinese Goods In Latest Escalation (R.)
Majority Of Americans Don’t Want Trump Impeached, Removed From Office (USAT)
CNN Hires Former FBI #2 Andy McCabe, Who Was Fired For Leaking And Lying (ZH)
Genesis and Evolution of the Jeffrey Epstein-Bill Clinton Relationship (Webb)
Bill Barr And Bill Clinton (Webb)
Long Before Epstein: Sex Traffickers & Spy Agencies (Vos)
Psychologist Approved Jeffrey Epstein’s Removal From Suicide Watch (R.)
France Launches Rape Inquiry in Jeffrey Epstein Case (BBC)
Lost at Sea (Kunstler)
Tulsi Gabbard Victimized by DNC’s Dubious Debate Criteria (Tracey)

 

 

“Synthetic Hegemonic Currency” sounds creepy to me.

World Needs To End Risky Reliance On US Dollar: BoE’s Carney (R.)

Bank of England Governor Mark Carney took aim at the U.S. dollar’s “destabilizing” role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency. The dollar’s dominance of the global financial system increased the risks of a liquidity trap of ultra-low interest rates and weak growth, Carney told central bankers from around the world gathered in Jackson Hole, Wyoming, in the United States. “While the world economy is being reordered, the U.S. dollar remains as important as when Bretton Woods collapsed,” Carney said, referring to the end of the dollar’s peg to gold in the early 1970s. Emerging economies had increased their share of global activity to 60% from around 45% before the financial crisis a decade ago, Carney said.

But the dollar was still used for at least half of international trade invoices – five times more than the United States’ share of world goods imports – fuelling demand for U.S. assets and exposing many countries to damaging spillovers from swings in the U.S. economy. Carney – who was considered a candidate to be the next head of the International Monetary Fund but failed to secure backing from Europe’s governments – said the problems in financial system were encouraging protectionist and populist policies. [..] Carney warned that very low equilibrium interest rates had in the past coincided with wars, financial crises and abrupt changes in the banking system. As a first step to reorder the world’s financial system, countries could triple the resources of the IMF to $3 trillion as a better alternative to countries protecting themselves by racking up enormous piles of dollar-denominated debt.

“While such concerted efforts can improve the functioning of the current system, ultimately a multi-polar global economy requires a new IMFS (international monetary and financial system) to realize its full potential,” Carney said. China’s yuan represented the most likely candidate to become a reserve currency to match the dollar, but it still had a long way to go before it was ready. The best solution would be a diversified multi-polar financial system, something that could be provided by technology, Carney said. Facebook’s Libra was the most high-profile proposed digital currency to date but it faced a host of fundamental issues that it had yet to address. “As a consequence, it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies,” Carney said.

Read more …

Globalization is dead.

China Strikes Back At US With New Tariffs On $75 Billion In Goods (R.)

China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world’s top two economies. The latest salvo from China comes after the United States unveiled tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, scheduled to go into effect in two stages on Sept. 1 and Dec. 15. China will impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States including agricultural products such as soybeans, crude oil and small aircraft. China is also reinstituting tariffs on cars and auto parts originating from the United States.

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Dead as a doornail.

Trump Heaps Another 5% Tariff On Chinese Goods In Latest Escalation (R.)

U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world’s two largest economies. Trump’s move, announced on Twitter, came hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. goods, prompting the president earlier in the day to demand U.S. companies move their operations out of China. The intensifying U.S.-China trade war stoked market fears that the global economy will tip into recession, sending U.S. stocks into a tailspin, with the Nasdaq Compositedown 3%, and the S&P 500 down 2.6%. U.S. Treasury yields also declined as investors sought safe-haven assets, and crude oil, targeted for the first time by Chinese tariffs, fell sharply.


Trump’s tariff response was announced after markets closed on Friday, leaving potentially more damage for next week. “Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer,” Trump said on Twitter. “As President, I can no longer allow this to happen!” He said the United States would raise its existing tariffs on $250 billion worth of Chinese imports to 30% from the current 25% beginning on Oct. 1, the 70th anniversary of the founding of the communist People’s Republic of China. At the same time, Trump announced an increase in planned tariffs on the remaining $300 billion worth of Chinese goods to 15% from 10%.

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Don’t take Nadler’s hobby away.

Majority Of Americans Don’t Want Trump Impeached, Removed From Office (USAT)

A majority of Americans oppose impeaching President Donald Trump, according to a new poll by Monmouth University released Thursday. The data point – with 59% of those surveyed responding that Trump should not be impeached and compelled to leave office – comes as Trump’s approval rating remains at 40% in the same poll. In the poll, there is a clear partisan divide on whether the House Judiciary Committee should pursue an impeachment inquiry. While 72% of Democrats believe such an inquiry is a good idea, only 39% of independents and 8% of Republicans share that belief. House Judiciary Committee Chairman Rep. Jerry Nadler, D-N.Y. confirmed the launch of an impeachment inquiry by his House panel earlier this month in an interview on CNN.

Additionally, Nadler sent a letter Thursday asking four other Democratic House committee chairs currently leading investigations into Trump to share documents to aid his committee’s investigation into possible obstruction and other abuses, which could lead to potentially filing articles of impeachment against the president. Nadler wrote to Intelligence Chairman Adam Schiff, D-Calif., Oversight and Reform Chairman Elijah Cummings, D-Md., Financial Services Chairwoman Maxine Waters, D-Calif., and Foreign Affairs Chairman Eliot Engel, D-N.Y. He asked for “documents and testimony, depositions, and/or interview transcripts that you believe may be relevant to the Judiciary Committee’s ongoing impeachment investigation relating to President Trump.”

The Monmouth University poll surveyed 800 adults in the U.S. via telephone from August 16-20, 2019. It has a margin of error of plus or minus 3.5 percentage points.

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Neither Orwell nor Bizzarro World have anything on this: CNN just hired the FBI’s former no. 2, who was fired for lying to his own employer/agency. For which he should obviously be in jail, but he’s not. Want to guess where you would be if you lied to the FBI? Ask George Papadopoulos. His lie was superficial slash meaningless at best, but he served time. McCabe’s lies are a whole different universe.

CNN Hires Former FBI #2 Andy McCabe, Who Was Fired For Leaking And Lying (ZH)

Another Ex-Obama official has joined the ranks of anti-Trump cable news punditry, this time disgraced FBI #2 Andrew McCabe, who was fired for leaking information to the media – then lying about it at least four times, including under oath. Now, McCabe – who is suing the DOJ and FBI over what he claims was a “politically motivated” firing just days before he was set to retire with full benefits,” will join former Director of National Intelligence James Clapper at CNN. Succinctly put by The Federalist’s Mollie Hemmingway: “Andrew McCabe, one of the central figures of the “Russia collusion” hoax, who was fired from the FBI for lying about his leaks to the media, has been hired by CNN, one of the media outlets that did the most to perpetuate the damaging hoax.” – Mollie (@MZHemingway) August 23, 2019

McCabe authorized an FBI spokesman to tell the Wall Street Journal’s Devlin Barrett – just days before the 2016 US election, that the FBI hadn’t put the brakes on an investigation into the Clinton Foundation – at a time in which McCabe was coming under fire for his wife taking a $467,500 campaign contribution from Clinton associate, Terry McAuliffe. As noted above, McCabe then lied about the leak at least four times and was subsequently fired over it. McCabe claimed that his boss, also-fired former FBI Director James Comey, was well aware of the leaks. Comey shot back on ABC’s The View, calling McCabe a liar.

Comey was asked by host Megan McCain how he thought the public was supposed to have “confidence” in the FBI amid revelations that McCabe lied about the leak. “It’s not okay. The McCabe case illustrates what an organization committed to the truth looks like,” Comey said, adding “Good people lie … I still believe Andrew McCabe is a good person but the inspector general found he lied,” noting that there are “severe consequences” within the DOJ for doing so.

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Part 4 of Whitney Webb’s incredible series on sexual blackmail.

“Of particular importance are Epstein’s relationship to the Clinton Foundation and the alleged role of Epstein’s Virgin Islands-based hedge fund and the Clinton Foundation in money laundering activity.. [..] It is this tale of intrigue that fully reveals the extent to which this decades-old alliance between organized crime, the CIA, and Israeli intelligence has corrupted and influenced politicians of both political parties, both through the use of sexual blackmail and through other means of coercion. ”

Genesis and Evolution of the Jeffrey Epstein-Bill Clinton Relationship (Webb)

[..] these sexual blackmail operations proliferated during the Iran-Contra affair, which involved this same dark alliance between U.S./Israeli intelligence and organized crime. Though this series has thus far largely focused on the ties of Republican officials to those operations and associated crimes, the final installment of this series will focus on Democratic politicians, namely the Clinton family, and their ties to this same network as well as Jeffrey Epstein. The Clintons’ own involvement in Iran-Contra revolved around the covert activities at Arkansas’ Mena Airport, which involved the CIA front company Southern Air Transport and occurred while Clinton was governor.

Just a few years into the Clinton presidential administration, Leslie Wexner and Jeffrey Epstein would play a major role in Southern Air Transport’s relocation to Columbus, Ohio, leading to concerns among top Ohio officials that both men were not only working with the CIA, but that Wexner’s company, The Limited, sought to use the CIA-linked airline for smuggling. During that same period of time, Epstein had already forged close ties to important Clinton White House officials and prominent Clinton donors like Lynn Forester de Rothschild and made several personal visits to the official presidential residence.

Some of these ties appear related to Epstein’s shady financial activities, particularly involving currency markets and offshore tax havens — activities he began to perfect while working for prominent Iran-Contra figures in the early 1980s, several of whom were tied to the CIA-linked bank Bank of Credit and Commerce International (BCCI) and had known relationships with Israeli intelligence, namely the Mossad. The nature of Epstein’s work for these individuals and other evidence strongly suggests that Epstein himself had a relationship with BCCI after leaving Bear Stearns and prior to the bank’s collapse in 1991.

Of particular importance are Epstein’s relationship to the Clinton Foundation and the alleged role of Epstein’s Virgin Islands-based hedge fund and the Clinton Foundation in money laundering activity, a relationship still under investigation by MintPress. It is this tale of intrigue that fully reveals the extent to which this decades-old alliance between organized crime, the CIA, and Israeli intelligence has corrupted and influenced politicians of both political parties, both through the use of sexual blackmail and through other means of coercion.

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From the same Whitney Webb article. This part warrants attention.

Bill Barr And Bill Clinton (Webb)

After Clinton’s half-brother Roger was busted for cocaine smuggling (Clinton would later pardon him while president) the CIA sought to move Contra operations out of Arkansas, hoping to put a damper on the increasingly public and sloppy Arkansas-based operation. According to Terry Reed in his book Compromised: Clinton, Bush and the CIA, co-written with John Cummings, a hushed meeting was held in a bunker at Camp Robinson in North Little Rock, Arkansas. During the meeting, William Barr, who represented himself as the emissary of then-CIA Director Bill Casey told Clinton: “The deal we made was to launder our money through your bond business but what we didn’t plan on was you and your n****r here start taking yourselves seriously and purposely shrinking our laundry.”

Barr chastised Clinton for his sloppy handling of the delicate operation and his half-brother’s very public fall from grace. He would later tell Clinton, according to Reed, “Bill, you are Mr. Casey’s fair-haired boy … You and your state have been our greatest asset. Mr. Casey wanted me to pass on to you that unless you fuck up and do something stupid, you’re No. 1 on the short list for a shot at the job that you’ve always wanted. You and guys like you are the fathers of the new government. We are the new covenant.” Attempts to investigate Clinton’s role in the Mena operations and more broadly in the Iran-Contra affair were allegedly axed by Clinton’s own confidantes, who consistently denied he played a role in the scandal.

According to the Wall Street Journal, former IRS investigator William Duncan teamed with Arkansas State Police Investigator Russell Welch in what became a decade-long battle to bring the matter to light. In fact, of the nine separate state and federal probes into the affair, all failed. Duncan would later say of the investigations, “[They] were interfered with and covered up, and the justice system was subverted,” and a 1992 memo from Duncan to high-ranking members of the attorney general’s staff notes that Duncan was instructed “to remove all files concerning the Mena investigation from the attorney general’s office.” The attorney general, serving under George H. W. Bush, at that time was William Barr, who is currently attorney general under Trump.

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This stuff is so institutionalized, so deeply engrained in our societies, that is will be very hard to get rid of.

Long Before Epstein: Sex Traffickers & Spy Agencies (Vos)

In the U.S., the New York State Select Committee On Crime in 1982 investigated nationwide networks of trafficking underage sex workers and producing child pornography. Dale Smith, a committee investigator, noted that call services using minors also profited from “sidelines,” besides the income from peddling prostitution. Smith said they sold information “on the sexual proclivities of the clients to agents of foreign intelligence.” Presumably, this information could be used to blackmail those in positions of power. Smith added that one call service sold information to “British and Israeli intelligence.”

Another U.K. scandal included allegations that Sir Peter Hayman, a British diplomat and deputy director of MI6, was a member of the Pedophile Information Exchange (PIE). Police discovered that two of the roughly dozen pedophiles in his circle had been writing to each other about their interest in “the extreme sexual torture and murder of children,” according to the The Daily Mail. In 2015, The Guardian reported that former Prime Minister Margaret Thatcher had been “adamant that officials should not publicly name” Hayman, “even after she had been fully briefed on his activities….formerly secret papers released to the National Archives shows.”

Still, Hayman was unmasked as a subscriber to PIE in 1981 by M.P. Geoffrey Dickens, who also reportedly raised the national security risk of Hayman’s proclivities, implying they were a potential source of blackmail sought by intelligence agencies. The British tabloid The Mirror reported that intelligence agencies, including the KGB and CIA, kept their own dossiers on U.K. establishment figures involved with PIE and the abuse of minors, to blackmail the targets in exchange for information.

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Makes very little sense. Suicide watch is a serious thing, and all it takes is one psychologist?

Psychologist Approved Jeffrey Epstein’s Removal From Suicide Watch (R.)

A psychologist at the federal detention center in New York City where financier Jeffrey Epstein was jailed on sex-trafficking charges had approved his removal from suicide watch before he killed himself, the U.S. Justice Department said on Friday. The disclosure came in a letter dated on Thursday from Assistant Attorney General Stephen Boyd and addressed to the leaders of the Judiciary Committee of the U.S. House of Representatives, seeking details about the circumstances surrounding Epstein’s death earlier this month. Epstein, who was 66, was found dead Aug. 10 in his cell inside a segregated housing unit of the Metropolitan Correctional Center (MCC) in Lower Manhattan. An autopsy concluded that he hanged himself.


His death triggered investigations by the FBI, the Justice Department’s Office of Inspector General and the U.S. Bureau of Prisons, which runs the detention facility. The Boyd letter, provided to Reuters on Friday, confirmed that Epstein had been placed on suicide watch in July, a status under which the designated prisoner is held in a special cell under constant observation by staff or “inmate companions.” Epstein was “later removed from suicide watch after being evaluated by a doctoral-level psychologist who determined that a suicide watch was no longer warranted,” Boyd wrote in the three-page letter. The letter did not state precisely why a suicide watch had been ordered for Epstein. But Epstein in July had been found unconscious on the floor of his cell with marks on his neck, and officials had been investigating that incident as a possible suicide attempt or assault.

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Maybe it takes the French to dig deep enough. Certainly wouldn’t bet on Bill Barr doing the job.

France Launches Rape Inquiry in Jeffrey Epstein Case (BBC)

French prosecutors have opened an inquiry into rape allegations against the late US financier Jeffrey Epstein. [..] He had an apartment in Paris, and French gender equality minister Marlène Schiappa had called for an inquiry into any abuses committed on French soil. On Friday Paris prosecutors launched a probe for “rape” and “sexual assault”. [..] Epstein spent plenty of time in Paris and owned a luxury apartment near the Arc de Triomphe. Investigations “will focus on potential crimes committed against French victims… and on suspects who are French citizens”, Paris Prosecutor Remy Heitz said in a statement.


A French advocacy group for child sex abuse victims, Innocence En Danger (Innocence at Risk), said this week it had received 10 witness statements involving Epstein regarding alleged sex crimes committed against minors on French soil. Epstein was also friends with French modelling tycoon Jean-Luc Brunel, who was accused in US court documents of procuring young girls for Epstein, along with allegations of rape. Mr Brunel has denied the accusations.

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“The Democratic contest may be peaking way too early. And Joe Biden hasn’t even had a chance to claim he is the out-of-wedlock grandson of W.C. Handy.”

Lost at Sea (Kunstler)

Elizabeth Warren set the stage for anointing herself America’s Race Hustler-in-Chief by addressing the niggling matter of her former claim to be a Cherokee Indian, since disproven by a DNA test. There was loose talk, you see, that she used the Cherokee ruse to bamboozle her overseers on the Harvard Plantation, where she got to work in the Big House known as the Harvard Law School based on her “diversity” bona fides — a “minority hire!” The claim was so transparently idiotic and dishonest that she was desperate to walk it back as delicately as possible, in order to keep up with the race hustling of her fellow pols chasing the nomination. A rain dance was arranged in the aptly-named heartland town of Sioux City.

“Like anyone who’s being honest with themselves, I know that I have made mistakes,” said Ms. Warren, who was met with a standing ovation when she took the stage [The Times reported]. “I am sorry for harm I have caused. I have listened and I have learned a lot, and I am grateful for the many conversations that we’ve had together.” Was a more disingenuous political statement ever contrived? A bundle of devious platitudinous promises of the sort that white people always offered the indigenous folk at a thousand crooked treaty councils? It would have been a little more satisfying, perhaps, if Ms. Warren had specified the mistakes made, e.g. I was falsely claiming a racial identity for career advancement. Now that’s an apology!

“Listening and learning?” I dunno… sounds a little like groveling and pandering. Anyone can choke down a few bites of humble pie but please don’t make me eat that shit sandwich! The Democratic contest may be peaking way too early. And Joe Biden hasn’t even had a chance to claim he is the out-of-wedlock grandson of W.C. Handy. There are indications that the political center is already a little tired of the Everything-Is-Racist trope that the party ran up the flagpole this summer. For The New York Times, it became the publicly acknowledged official editorial slant when newsroom chief Dean Baquet announced that the paper needed a replacement for the shredded gonfalon of RussiaGate.

Read more …

Is the DNC secretly working for Trump?

Gabbard torpedoed Kamala Harris’s shot at the job. That won’t be forgiven.

Tulsi Gabbard Victimized by DNC’s Dubious Debate Criteria (Tracey)

Tulsi Gabbard is on the verge of being excluded from the next Democratic presidential debate on the basis of criteria that appear increasingly absurd. Take, for instance, her poll standing in New Hampshire, which currently places Gabbard at 3.3% support, according to the RealClearPolitics average as of Aug. 20. One might suspect that such a figure would merit inclusion in the upcoming debates — especially considering she’s ahead of several candidates who have already been granted entry, including Cory Booker, Amy Klobuchar, Beto O’Rourke, and Andrew Yang. But the Democratic National Committee has decreed that the polls constituting this average are not sufficiently “qualifying.”

What makes a poll “qualifying” in the eyes of the DNC? The answer is conspicuously inscrutable. Months ago, party chieftains issued a list of “approved sponsoring organizations/institutions” for polls that satisfy their criteria for debate admittance. Not appearing on that list is the Boston Globe, which sponsored a Suffolk University poll published Aug. 6 that placed Gabbard at 3%. The DNC had proclaimed that for admittance to the September and October debates, candidates must secure polling results of 2% or more in four separate “approved” polls – but a poll sponsored by the newspaper with the largest circulation in New Hampshire (the Globe recently surpassed the New Hampshire Union Leader there) does not count, per this cockamamie criteria.

There has not been an officially qualifying poll in New Hampshire, Gabbard’s best state, in over a month. The absurdity mounts. A South Carolina poll published Aug. 14 by the Post and Courier placed Gabbard at 2%. One might have again vainly assumed that the newspaper with the largest circulation in a critical early primary state would be an “approved” sponsor per the dictates of the DNC, but it is not. Curious.

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Cerberus, the early days.

 

 

 

 

 

Aug 032019
 
 August 3, 2019  Posted by at 9:26 am Finance Tagged with: , , , , , , , , , ,  


Dorothea Lange Migrant Father June 1938

 

Russian Assets In America: A Field Guide (RT)
Majority of House Democrats Favor Starting Impeachment Proceedings (R.)
The Rise and Fall of Superhero Robert Mueller (Matt Taibbi)
Obama Looms over the Primary in Invisible Ways (TPM)
Race Hustle (Jim Kunstler)
Tory Rebels Threaten Boris Johnson After Majority Cut To One (G.)
Watch Out Boris Johnson the Chickens are Coming Home to Roost (English)
Pentagon Testing Mass Surveillance Balloons Across The US (G.)
What Would Chinese Military Intervention In Hong Kong Look Like? (ZH)
First Human-Monkey Chimera Raises Concern Among Scientists (G.)

 

 

Russiagate intensifies.

Honorable mentions: Trump, hamburgers, Washington Post.

Russian Assets In America: A Field Guide (RT)

If the mainstream media is to be believed, the Kremlin’s network of hackers and bots could give the Illuminati a run for its money. When its operatives aren’t electing British prime ministers, embarrassing American politicians on debate night and flogging dildos to undermine democracy, they’re overseeing a team of assets earning their borscht openly in the United States. Thankfully, the intrepid detectives in the American press have named and shamed these double agents. We’ve compiled a list here.


Mitch McConnell, alias: Moscow Mitch McTreason

Cleverly posing as a Republican Senator from Kentucky since 1985, Mitch McConnell was outed as a Russian asset by the Washington Post last week when he shot down a trio of bills that would have supposedly beefed up American election security from foreign interference. Never mind that McConnell opposed the bills based almost entirely on partisan disagreements with the Democrats, the Post exclaimed “Mitch McConnell is a Russian asset,” and MSNBC’s Joe Scarborough dubbed the southern Republican “Moscow Mitch.” With his nefarious plan exposed, #MoscowMitchMcTreason had no choice but to shrug, and continue about his day.


Lindsey Graham, alias: Leningrad Lindsey

#LeningradLindsey began trending after the South Carolina lawmaker helped push a controversial asylum bill through the Senate Judiciary Committee on Thursday. Though the bill had nothing to do with Russia, the nickname stuck. Cleverly, Leningrad Lindsey has spent his career on Capitol Hill posing as a Russia-baiter. Graham has repeatedly called for Russia to “pay a price” for allegedly meddling in the 2016 presidential election, and co-sponsored an anti-Russia “sanctions bill from hell.” With a record like that, nobody would suspect that he was secretly a Russian asset all along. Note too that Leningrad does not exist any more. Perhaps Graham’s treachery dates back to the communist era? Either that or Letnerechenskiy Lindsey didn’t have the same ring to it.

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I can’t seem to figure out on what specific grounds though.

Majority of House Democrats Favor Starting Impeachment Proceedings (R.)

A majority of Democrats in the U.S. House of Representatives now favor launching impeachment proceedings against Republican President Donald Trump, after a California lawmaker on Friday became the 118th Democrat to call for the process to begin. “In the past few years, our nation has seen and heard things from this president that have no place in our democracy,” Representative Salud Carbajal said in a statement that accused Trump of “criminal” behavior. “I believe it is time to open an impeachment inquiry into President Donald Trump,” Carbajal said. The Democrats have a majority of 235 members in the House of Representatives. Support for an impeachment inquiry has jumped by more than two dozen Democrats since former Special Counsel Robert Mueller testified on July 24 about his probe of Trump and Russian interference in the 2016 election.

But the total of 118 is still far short of the 218 House votes needed to approve an impeachment resolution, and opinion polls continue to show voters sharply divided over the issue. The House is currently on a summer recess and will not return until Sept. 9. Having a majority of her own caucus favor impeachment could put new pressure on House Speaker Nancy Pelosi, who opposes impeachment as a politically risky move unless investigators find powerful evidence of misconduct by Trump that can unify public opinion. In a statement issued Friday, Pelosi gave no sign she was about to change her cautious approach. Instead, she outlined in considerable detail her strategy of Democrats continuing to investigate the president, while also moving in court to get access to more evidence.

“Democrats in the Congress continue to legislate, investigate and litigate,” Pelosi declared. “The president will be held accountable.” Democrats opposing impeachment say the best way to remove Trump is by defeating him in 2020, when he is up for re-election. Some Democrats worry that too strong a focus on impeachment could eclipse other issues like healthcare and threaten the re-election of Democrats who pried seats away from Republicans last year in regions where many voters oppose impeachment. Trump has denied any wrongdoing and says he was vindicated by the Mueller report, but the special counsel made clear in his testimony to Congress that that was not the case.

In his report, Mueller described in detail the extensive contact Trump’s team had with Russia during the 2016 election campaign, and how Trump tried to impede Mueller’s investigation. While he stopped short of concluding Trump had committed a crime or that his aides had conspired with Moscow, Mueller did not clear him and indicated it was up to Congress to decide the next steps. Democrats on the House Judiciary Committee effectively rebranded their six-month-old oversight investigation of Trump as an impeachment probe last week, when they asked a federal judge for access to Mueller’s grand jury evidence to determine whether to recommend articles of impeachment against Trump.

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More impeachment nonsense.

The Rise and Fall of Superhero Robert Mueller (Matt Taibbi)

The conspiracy tale has validated every Trump criticism about both crooked media and the deep state. The whole narrative is the brainchild of Clinton hacks, a handful of overzealous intelligence nuts, and a subset of the Democratic Party’s weakest elected minds, in particular murine ex-prosecutor Schiff, a man who should be selling Buicks back in his hometown Burbank. Take a good look at Schiff, at our paranoid outpatient of an ex-CIA chief John Brennan, and at excuse-making Clinton campaign chief Robby Mook (a.k.a. the captain of the Democratic Titanic), and ask if you really want to be re-writing history for those people. They’re making the press accomplices in the most imbecilic effort at political opposition in recent American history.

Hence the desperate public comments and the string of wacked-out stunts, like putting Mueller under oath. Impeachment will be the next adventure in doubling down blind. A significant portion of the original conspiracy theory vanished via a series of under-circulated news reports just in the months since the end of the Mueller probe. Remember the Southern District of New York campaign finance probe that arose in connection with Trump lawyer Michael Cohen, the one described as a “major danger” to Trump? Remember all that talk about how “Trump can’t run the Mueller playbook on the New York feds?” Experts told us that the Cohen probe posed a “significant threat” of new indictments for Trump and his family.

When that investigation closed with no new charges the same week Mueller testified, the commentariat barely noticed. Same with the Democrats v. Earth lawsuit/publicity stunt, in which the Democratic National Committee sued Trump, the Russian government, and Wikileaks under a RICO claim. Plaintiffs charged the Trump campaign conspired to steal and release DNC emails. But a federal judge tossed the suit on the grounds that the Trump campaign “did not participate in the theft.” Moreover, the Clinton-appointed judge said published documents were “of public concern” and therefore protected like any other journalistic work product. The judge also ruled that allegations about all the non-Russian defendants (including Wikileaks) were “insufficient to hold them liable” for any illegality involved in obtaining DNC emails.

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More superheroes.

Obama Looms over the Primary in Invisible Ways (TPM)

When Bernie Sanders got into the race in 2016 in many ways his campaign was premised on the idea that Obama had gotten most things wrong. Perhaps his presidency wasn’t a disaster, as my friend argues. But the premises of Sanders’ campaign was that Democrats needed to move in a dramatically different direction and that Obama’s policies and presidency were – while better than the GOP alternative – fundamentally misguided. Sanders was pretty straightforward about this before getting into the race. And he didn’t really hide it once he got in. But in the nature of things, since Obama was a popular incumbent, it wasn’t a point he emphasized during his campaign.

We also know that the entire country has moved left on a number of issues over the last decade (LGBTQ issues and marijuana legalization are just two examples). Democrats, meanwhile, have moved significantly to the left on a much broader range of issues. Some of this is an on-going trend. Some of it is in reaction to Trump, having his extremity lead to a reevaluation of practices that most Democrats didn’t focus much on. Maybe the best example of this is on immigration. As immigration advocates were saying very clearly at the time, the Obama administration deported lots and lots of people. It’s hard to see that in quite the same light after what we’ve all been exposed to about the mechanics of ICE, detention, deportation and everything that goes with it.

But with all of this, there’s a shift that has taken place that manages to be both all but invisible and yet very obvious. Part of it is Sanders deep imprint on the 2020 policy conversation – especially on health care and student debt but on other issues as well. Part of it is the wave of left activism that predates Trump but has intensified under his presidency. But taken together they’ve created a 2020 campaign policy conversation which at least implicitly gives a pretty negative verdict on Obama and his presidency. Perhaps not a disaster as my friend puts it but in many regards a mistake rather than something to build on. That, I think, is the root of Biden’s continuing strength, even with all the bobbles, flubs, the archaic policy histories and all the rest. It’s not just because he was Obama’s Vice President and people like Obama. It’s because the terms of the policy debate are in conflict – when forced together – with where the great majority of Democrats are, which is holding Obama and his presidency in very high regard.

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“Maybe the Democratic Party should move out of the ghetto it’s built for itself.”

Race Hustle (Jim Kunstler)

The shriekings of “racism” aren’t helping much anymore. Few observers have missed the fact that the city of Baltimore has been run by an African American city hall (Mayor, Police Chief, District Attorney) for many years, with over a billion dollars in additional federal assistance. So, if political power is the answer, how’s that working out? Add some extra shrieking about “white privilege” to explain the situation? How does “white privilege” explain the fact that 86 percent of kids in Baltimore primary schools can’t read and 89 percent can’t do arithmetic to grade level? This, despite the fact that at $15,564 per pupil, Baltimore is fourth highest per student of the 100 largest school districts in the nation, according to the U.S. Census Bureau.

Maybe becoming the party of a national race hustle isn’t such a good idea. The race hustle is wearing out its welcome in American politics, and the more the Democratic Party resorts to race hustling as its chief strategy, the sooner the party will go extinct. That is, if it doesn’t incite some kind of civil war first. Cue the cry, “That’s racist!”

Maybe there is a whole range of human values and human behaviors that have nothing to do with race — like reading to small children and helping them learn the English language so they don’t grow into adults who have to say “know what I mean?” every other sentence because they’ve barely acquired enough language skill themselves to know what they mean. Maybe there’s something called an American common culture that contains values and behaviors worth emulating rather than opposing. Maybe “multiculturalism” wasn’t such a good idea after all. Maybe ghetto culture is not such a precious foundation for a successful life. Maybe the Democratic Party should move out of the ghetto it’s built for itself.

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‘Even if my career is over, I can’t put my name to this.’

Tory Rebels Threaten Boris Johnson After Majority Cut To One (G.)

Boris Johnson faced a grave threat to his control of parliament on Friday as he was warned that Conservative rebels could cross the House of Commons to foil Brexit in the aftermath of a byelection that reduced his working majority to just one MP. Overnight, the Liberal Democrats’ Jane Dodds won a crucial byelection in Brecon and Radnorshire by a margin of 1,425, overturning the Tories’ previous majority of more than 8,000. The result prompted immediate recriminations across the party. Conservative no-deal sceptics warned about the rapidly growing threat the government could face from the reinvigorated Lib Dems, while insiders blamed Theresa May’s administration for choosing a candidate who had already been ousted for expenses fraud.

One of the most prominent Conservative supporters of a second referendum told the Guardian on Friday he was actively considering defecting to the Lib Dems or sitting as an independent, a move that would leave Johnson at the helm of a minority government. Dr Phillip Lee, the former justice minister, who first suggested he could quit the party in his own podcast, On the House, told the Guardian he was not alone among colleagues considering defecting or resigning if the government pursued no deal. “I have things to think about over the summer, but it is not just me,” he said.

“There are a number of colleagues who are spending the summer reflecting on what is the right way for them to confront this no-deal scenario. Of course, it is difficult for all of us because we joined the Conservative party, but it has morphed into something a lot different to what I joined in 1992.” Although Johnson might be able to rely on Labour Brexiters and independents to vote for a deal, Lee suggested that the government could still be threatened by the many Conservatives in the party’s centre who had been alienated by the number of rightwingers in Johnson’s cabinet. “At the moment Boris Johnson has a very difficult pitch to play and that has been made even harder by the formation of this cabinet,” he said. “There are increasingly people who think, ‘Even if my career is over, I can’t put my name to this.’

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“[..] the pound has plummeted since his appointment. It is currently the second worst performing currency in the world – after the Madagascan Ariary.”

Watch Out Boris Johnson the Chickens are Coming Home to Roost (English)

[..] a week is a long time in politics and Prime Minister Johnson quickly ran out of hot air. Just saying stuff will happen does not make stuff happen. You can’t strike a better deal if you refuse point blank to meet your opposite numbers. You see, incredibly, instead of setting up meetings with his fellow heads of state and selling his Brexit vision, Johnson has declared that he won’t meet Angela Merkel, Emmanuel Macron or any of the EU heads unless they scrap the backstop. This is the same ludicrous negotiating tactic he deployed when as Mayor of London he refused to engage with London Underground union reps. It didn’t work then and led to long strikes. It’s even less likely to work now – and the end result will be far more damaging.

Johnson is all about image and image management. His team has already set to work on a £100 million taxpayer-funded propaganda campaign – the biggest of its kind since World War Two – to convince the British people that a ‘no deal’ Brexit will be fine and, failing that, it will be everyone else’s fault. Every single reputable economist disagrees. And so do the markets, which is why the pound has plummeted since his appointment. It is currently the second worst performing currency in the world – after the Madagascan Ariary.

Some Brexit cultists argue that a weak currency is good for the economy. They’re wrong. Unless you’re a hedge fund manager or a holiday lettings firm in Cornwall, a weak pound is a disaster. It’s bad for consumers and calamitous for manufacturers relying on tight margins and supply chains. It’s awful for pensioners, holiday-makers or anyone who has an interest in the British economy functioning. A falling currency is like a failing heart. If it were otherwise, then Madagascar would be the economic powerhouse of the global economy and Italy would have been the envy of the world in the Berlusconi years.

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Freedom’s just another word for nothing.

Pentagon Testing Mass Surveillance Balloons Across The US (G.)

The US military is conducting wide-area surveillance tests across six midwest states using experimental high-altitude balloons, documents filed with the Federal Communications Commission (FCC) reveal. Up to 25 unmanned solar-powered balloons are being launched from rural South Dakota and drifting 250 miles through an area spanning portions of Minnesota, Iowa, Wisconsin and Missouri, before concluding in central Illinois. Travelling in the stratosphere at altitudes of up to 65,000ft, the balloons are intended to “provide a persistent surveillance system to locate and deter narcotic trafficking and homeland security threats”, according to a filing made on behalf of the Sierra Nevada Corporation, an aerospace and defence company.


The balloons are carrying hi-tech radars designed to simultaneously track many individual vehicles day or night, through any kind of weather. The tests, which have not previously been reported, received an FCC license to operate from mid-July until September, following similar flights licensed last year. Arthur Holland Michel, the co-director of the Center for the Study of the Drone at Bard College in New York, said, “What this new technology proposes is to watch everything at once. Sometimes it’s referred to as ‘combat TiVo’ because when an event happens somewhere in the surveilled area, you can potentially rewind the tape to see exactly what occurred, and rewind even further to see who was involved and where they came from.”

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“even smaller-scale intervention could spark a knee-jerk exodus from the city’s financial markets..”

What Would Chinese Military Intervention In Hong Kong Look Like? (ZH)

According to a new lengthy Bloomberg exploration outlining the possibilities that China’s military could intervene against the now eight weeks-long increasingly violent protests that have gripped Hong Kong streets, a central question now on everyone’s mind is, What will the Chinese military do? Reports began appearing late last week of a Chinese security forces build-up just outside the semi-autonomous city, setting nerves on edge, and this week the chief of the Chinese military garrison in Hong Kong warned that the army stands ready to “protect” Chinese sovereignty. And then there was also the extremely provocative just released “riot control” video, showing People’s Liberation Army (PLA) solders conducing a drill to invade a city in an imagined armed crackdown on protesters and unrest.


The Bloomberg report begins by noting that though Chinese army occupation of Hong Kong remains unlikely, it remains that “even smaller-scale intervention could spark a knee-jerk exodus from the city’s financial markets, drag down property prices and prompt international companies to reconsider their presence in the territory, analysts say.” The major financial hub could suffer “irreparable damage” by such an exodus, along with severely weakening the “one country, two systems” concept in effect since 1997. Chinese military officials, and especially state media have begun floating the argument for “military options” and intervention. Officials also recently described the US as a “black hand” behind the anti-Beijing protests – which began over a proposed extradition bill – something which the US state department dismissed as “ridiculous”.

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And all the sinners saints.

First Human-Monkey Chimera Raises Concern Among Scientists (G.)

Efforts to create human-animal chimeras have rebooted an ethical debate after reports emerged that scientists have produced monkey embryos containing human cells. A chimera is an organism whose cells come from two or more “individuals”, with recent work looking at combinations from different species. The word comes from a beast from Greek mythology which was said to be part lion, part goat and part snake. The latest report, published in the Spanish newspaper El País, claims a team of researchers led by Prof Juan Carlos Izpisúa Belmonte from the Salk Institute in the US have produced monkey-human chimeras. The research was conducted in China “to avoid legal issues”, according to the report.

Chimeras are seen as a potential way to address the lack of organs for transplantation, as well as problems of organ rejection. Scientists believe organs genetically matched to a particular human recipient could one day be grown inside animals. The approach is based on taking cells from an adult human and reprogramming them to become stem cells, which can give rise to any type of cell in the body. They are then introduced into the embryo of another species. Izpisúa Belmonte and other scientists have previously managed to produce both pig embryos and sheep embryos which contain human cells, although the proportions are tiny: in the latter case, researchers estimate that only one cell in 10,000 was human.

Pig-human and sheep-human chimeras are attractive in part because pigs and sheep have organs about the right size for transplantation into humans. However Alejandro De Los Angeles, from the department of psychiatry at Yale University, said it was likely monkey-human chimeras were being developed to explore how to improve the proportion of human cells in such organisms. “Making human-monkey chimeras could teach us how to make human-pig chimeras with the hope of making organs for transplantation,” he said. “It could teach us which types of stem cells we should be using, or other ways of enhancing what’s called ‘human chimerism levels’ inside pigs.”

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Jul 272019
 


Pablo Picasso Houses 1937

 

For The First Time In 6 Years, No Central Bank Is Hiking
China Moves To Regulate ‘Blind’ Expansion Of Financial Holding Firms (R.)
Is This the End of Office of Special Counsel? (Alan Dershowitz)
A Purview of Dust (Kunstler)
Highest-Ranking House Democrat To Date Calls For Trump Impeachment (NBC)
US House Panel Seeks Grand Jury Evidence To Assess Trump Impeachment (R.)
It’s Time To Forget The Mueller-Fuelled Impeachment Fantasies (Robinson)
Highly Unlikely Conspiracies (Dmitry Orlov)
Trouble Feared As Hong Kong Activists Return To Scene Of Triad Attack (R.)
US and Iran Stuck on Negotiation Ground Zero (Escobar)
Irish PM Says No-Deal Brexit Could Lead To United Ireland (AFP)
Dominican Republic Sends McAfee to Britain, Without Guns or Yacht (R.)

 

 

They are stuck, the lot of them. They can’t turn back, they can only double down.

For The First Time In 6 Years, No Central Bank Is Hiking

The global central bank experiment with renormalization is officially over. After roughly half the world’s central banks hiked rates at least once in 2018, the major central banks have returned to easing mode, and as the chart below shows, for the first time since 2013, not a single central bank is hiking rates. Commenting on the violent reversal away from tightening financial conditions which emerged following the Q4 2018 selloff, Goldman’s Jan Hatzius writes that “The FOMC looks set to cut the funds rate next week, the ECB today sent a strong signal that action in September is likely, and China has resumed easing policy after a spring pause. With global growth running at a below-trend rate of 2.75% -down from about 4% a year ago- a synchronized tilt towards easing looks like a natural response to a weaker outlook.”

Yet even Goldman can’t help but ask just why the Fed is rushing to commence the first easing cycle in years, pointing out that “the US economy is in decent shape, with a tight labor market, inflation close to target and— in our forecast— growth running a little above 2% both this year and next. We are modestly above consensus because we expect the negative inventory cycle to end and final demand to continue growing robustly on the back of easier financial conditions.” This, according to the Goldman economist, should limit Fed easing to two 25bp insurance cuts, one next week and another in September, although the bank, which until very recently did not expect any rate cuts at all, fails to justify just why the Fed is doing what it is about to do, unless of course Powell is merely folding to Trump pressure.

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They get too big, they becomes threats to Xi’s power.

China Moves To Regulate ‘Blind’ Expansion Of Financial Holding Firms (R.)

China’s central bank on Friday unveiled the first draft rules to regulate the country’s vast and often complex financial holding companies, which it said have had “blind business expansion” in recent years. The draft rules set minimum asset requirements and ban the holding companies from involvement in non-financial business activities. “There’s a blank in the regulation of the sector, and the risks are accumulating and become exposed,” the People’s Bank of China said in a statement. “Financial holding firms, especially those formed by non-financial companies, witness a blind business expansion over the past few years,” it added.


The opaque cross-holding structures and “blind” expansion of financial holding companies have alarmed policymakers, who say the control of multiple financial institutions by conglomerates and their ability to do business across different sectors could pose wider, systemic risks. China has been working towards specific rules regulating financial holding companies since last year. [..] According to the draft regulations, financial holding conglomerates with at least 500 billion yuan ($72.69 billion) in assets or have non-bank affiliates that manage 100 billion yuan of financial assets or more will be subject to the rules. Financial holding firms cannot engage in any non-financial business in order to prevent cross-sector risks, the PBOC said, and it will be illegal for them to inject capital into financial institutions.

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Dershowitz is far too close to Epstein of course, but he’s right on why this is wrong:

“It contained negative information about people, including the president, who will have no opportunity to respond in a legal proceeding.”

Is This the End of Office of Special Counsel? (Alan Dershowitz)

Robert Mueller’s performance in front of Congressional committees should mark the end of special counsels, special prosecutors, independent counsels and the like. These hearings demonstrated, if any further demonstration was required, how dangerous it was to go outside of the normal processes of criminal justice. Ordinary prosecutors are not allowed to comment about why they decided not to prosecute the subject of an investigation. The Mueller Report, when made public, violated that salutary tradition. It contained negative information about people, including the president, who will have no opportunity to respond in a legal proceeding. The report and the testimony introduced the novel and dangerous concept into our legal vocabulary: “Not exonerated.”

This concept, which finds no basis in the rules of the Justice Department or the Special Counsel, is a variation on the nefarious theme articulated by the disgraced former FBI director, James Comey, when he went beyond announcing that Hillary Clinton would not be prosecuted, and expressed his opinion that she had been extremely careless in her treatment of emails. This statement said, in effect, that Hillary Clinton was not being exonerated. Mueller’s testimony was confused and confusing on many scores. He couldn’t explain why he had reached a formal decision on conspiracy with Russia but had failed to reach a formal conclusion about obstruction of justice. He had to pull back on his answer to whether the decision not to charge the President was based on a Justice Department policy against indicting a sitting president.

There was no explainable pattern as to why he chose to answer some questions while declining to answer others. He seemed not to be familiar with the contents of the Report that bears his name. It was almost as if he had signed his name to the Report without carefully reading or understanding it. [..] Prosecutors, like the Special Counsel, operate behind closed doors and in secret. They hear only one side of the story. They are restricted in what Grand Jury information can be made public. Non-partisan expert commissions, on the other hand, operate primarily in public (except when hearing classified material) and hear all sides of every issue in an effort to hear the whole truth.

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Mayor of Munchkin Land.

A Purview of Dust (Kunstler)

In all this long and excruciating public playing-out of dark schemes, Mr. Trump, first candidate and now president, seems to have acted as little more than a tackling dummy for the Mueller Team and its backstage Clinton confederates. He tweeted childishly about the deeply partisan composition of the Mueller Team when he should have mounted a forceful legal opposition to the effrontery of their selection in the first place. It’s interesting to follow the pronouncements of the bit-players in this spectacle, now that Mr. Mueller has inadvertently destroyed the basis of the sacred narrative. Rep. Jerold Nadler turned up yakking with Anderson Cooper on CNN last night, looking every inch like the Mayor of Munchkin Land, bloviating against the supposed imminent Russian takeover of America (read: by witches) and for the now-receding fool’s errand of impeachment, which would only further expose the criminal culpability of his own Democratic Party in this sordid misadventure.


Mr. Cooper looked deeply pained by the chore, and yet his own professional credibility is on the line after two years of allowing himself to be played like a flugelhorn by the folks who matter in this country, and he contested nothing in Mr. Nadler’s mendacious pratings. And now a fretful silence will descend around this colossal goddamned mess as the momentum of history shifts against the perpetrators of it, and the true machinery of American justice is brought to bear upon them. The playing-out of Act Three will probably coincide with epic global financial disorder in the months ahead, further obscuring what people and nations can do to arrest the collapse of Modernity and its sidekick Human Progress.

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You just had a 22 month inquiry.

Highest-Ranking House Democrat To Date Calls For Trump Impeachment (NBC)

Rep. Katherine Clark, D-Mass., became the highest-ranking House Democrat to call for opening an impeachment inquiry into President Donald Trump. “I deeply respect the committee work of House Democrats to hold the president accountable, including hearings, subpoenas and lawsuits. All of our efforts to put the facts before the American people, however, have been met with unprecedented stonewalling and obstruction,” the sixth-ranking House Democrat said in a statement Thursday evening, adding, “That is why I believe we need to open an impeachment inquiry that will provide us a more formal way to fully uncover the facts.” Clark made her announcement the day after former special counsel Robert Mueller testified before two House committees about his investigation into Russia’s interference in the 2016 election, possible coordination with the Trump campaign and subsequent efforts by the president to obstruct the probe.


“Since the release of the Mueller report in April, it has been clear that the president committed impeachable offenses by welcoming interference from a hostile foreign power in the 2016 election and then attempting to obstruct the investigation into his unpatriotic actions,” Clark said. “Moreover, he said he would do it all again if given the chance.” Four other House Democrats also publicly called for moving ahead with impeachment since Mueller’s testimony — Reps. Andre Carson of Indiana, Lori Trahan of Massachusetts, Peter DeFazio of Oregon and Lisa Blunt Rochester of Delaware — which brings the number to 94 Democrats who are backing an impeachment inquiry, according to an NBC News count.

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People are going to turn against this.

US House Panel Seeks Grand Jury Evidence To Assess Trump Impeachment (R.)

The Democratic-led U.S. House Judiciary Committee asked a federal court on Friday for access to grand jury evidence from the Mueller probe that lawmakers say they need to determine whether to begin impeachment proceedings against President Donald Trump. Democratic lawyers from the House of Representatives filed a 53-page petition in U.S. District Court seeking permission to review evidence involving interactions between Trump campaign officials and Russian agents, and Trump’s alleged efforts to direct former White House Counsel Don McGahn to remove Special Counsel Robert Mueller. The action moved the House one step closer to impeachment, a politically contentious issue that has divided Democrats as Congress prepares to pivot to the 2020 election season.

“We have just given notice that we are actively considering articles of impeachment … that is as serious a step as we should take at this time,” an attorney for the committee told reporters during a background briefing held after the filing. A separate committee lawsuit expected early next week to compel McGahn to testify before the panel will also cite the need to decide on impeachment, though McGahn could avoid court action by agreeing to appear as a result of negotiations, aides said. The grand jury evidence, which is protected from outside scrutiny by federal law, was compiled by Mueller’s 22-month probe of Russian meddling in the 2016 presidential election and Trump’s efforts to impede the investigation.

House Judiciary Committee Chairman Jerrold Nadler told a news conference that since Justice Department policy prohibits prosecution of a sitting president, the House of Representatives is the only institution of government capable of holding Trump accountable for actions outlined in the Mueller report.

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” Instead of grappling with the very serious reasons why working-class people of all races are disillusioned with the Democratic party, prominent figures focus on litigating the various ways in which they were robbed of their rightful prize.”

It’s Time To Forget The Mueller-Fuelled Impeachment Fantasies (Robinson)

What a time-wasting farce this has all been. Robert Mueller’s confused, lethargic testimony before Congress this week confirmed how foolish Democrats have been to hope Mueller would “bring down” Donald Trump. For years, people have hoped that Mueller would swoop in like a “deus ex machina” with blockbuster charges against the president. For years, it has also been obvious that this would not happen, and that defeating Trump would require the traditional hard work of political organizing. Now that Mueller has conclusively showed that the Russia investigation was a pitiful sideshow, perhaps Democrats can finally get back to the issues that Americans actually care about.

It’s embarrassing to recall just how absurdly some people elevated Mueller, and how much faith was placed in him. Memes compared Mueller to Superman, or portrayed him as a top cop who was secretly fitting Trump for an orange jumpsuit. He appeared on votive candles and earrings. SNL sang him a Christmas carol. There was an action figure. But faith in Mueller was born of desperation. He was an ageing Republican bureaucrat, with no track record of seriously challenging people in power. He had been an apologist for the Iraq war and mass surveillance, and a reliable servant of the DC establishment. It took a great deal of wishful thinking to envision Mueller as a caped crusader.

[..] Democrats complaining about Russian interference have always seemed like “sore losers”. Instead of grappling with the very serious reasons why working-class people of all races are disillusioned with the Democratic party, prominent figures focus on litigating the various ways in which they were robbed of their rightful prize. In many ways, the Democratic obsession with the Mueller investigation was symptomatic of a party that has lost touch with the real concerns of working people. People are upset because they’re drowning in debt, their rent is too damn high, they can’t afford their health insurance and they are working crappy jobs.[..]As Thomas Frank has pointed out, the “party of the people” has become a party of Wall Street, unwilling to contemplate policies that threaten the interests of the wealthy.

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Why are we still entertaining any thoughts about this? Sorry, but I seem to have forgotten.

Dmitry also persuasively burns down the likelikood of a successful moon landing here. Click the link for that.

Highly Unlikely Conspiracies (Dmitry Orlov)

A year and a half ago the British PM Theresa May stunned the world by introducing into international relations a new, rather casual standard of proof—“highly likely”—in regard to the very strange case of the Sergei Skripal poisoning. It is part of a technique that is applied as follows. Make an unsubstantiated accusation of some party being “highly likely” to have committed a certain crime. Demand that the accused party confess to the crime, disclose all relevant information and agree to pay reparation. If this demand is not met, impose punishment. It is “highly likely,” the British government claimed, that a couple of Russian tourists secretly employed by a nonexistent Russian government agency called “GRU” smeared some poison gas on the doorknob of the front door of the house occupied by Sergei Skripal, a former Russian officer who had been caught spying, did time in Russia and was released in a spy swap deal.

This heinous act of smearing poison gas on the doorknob occurred after Skripal had left his house, never to return. So badly was the doorknob contaminated with poison gas that the entire roof of the building had to be replaced. [..] Well, clearly, Putin ordered this retired former spy to be murdered by a couple of bumbling tourists on a hookers and weed tour of London who took a side trip to look at a cathedral using an exotic poison gas in order to make sure that the FIFA World Cup championship, which Russia was hosting and which was just about to start, would go off without any international embarrassment. It is rather untraditional to assassinate spies exchanged in a spy swap because it undermines future spy swaps, but Putin, being a former spymaster himself, probably wouldn’t have known that and nobody at the mythical “GRU” knew either.

In any case, it is “highly likely” that this is exactly how and why all of this happened, and if you don’t believe that then you are a conspiracy theorist and your conspiracy theories need to be subjected to a thorough, lavishly funded debunking campaign. Elements of this campaign include accusing you of lack of patriotism and of aiding and abetting the enemy, paying “experts” to browbeat you with their superior acumen and knowledge (including secret knowledge to which you are not privy because of national security concerns) and feeding you false information as bait in order to discredit you once you take the bait and try to run with it.

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Rumor has it Chinese troops are gathering.

Trouble Feared As Hong Kong Activists Return To Scene Of Triad Attack (R.)

Several thousand protesters defied a police ban on Saturday to converge on a rural Hong Kong town where suspected triad gangsters attacked protesters and commuters at a train station last weekend. Police, widely criticized for failing to better protect the public from the triad raid in Yuen Long, refused to allow a planned march in the town on safety grounds.But activists insisted they would push ahead and by 3.30 pm (0730 GMT) several thousand had gathered in sweltering heat, many chanting anti-police slogans such as “black police” and “know the law, break the law.”


Residents described a mounting police presence on Saturday morning, with force chiefs insisting they will still seek to keep order despite the ban. Extra fortifications have been placed around the local police station. Police inside the station were filming the protesters as the march began. Activists told Reuters they feared the protest could turn violent, given feelings of palpable anger among protesters over last Sunday’s events and a determination among some to challenge villagers they believe are close to long-standing triad groups in the area. “The situation is escalating, and (Saturday) could be the start of a more violent period,” one told Reuters.

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Stand down.

US and Iran Stuck on Negotiation Ground Zero (Escobar)

Brazilian President Jair Bolsonaro, a fervent Trump groupie, has turned the country into a tropical U.S. neo-colony in less than seven months. On U.S. sanctions, Bolsonaro said, “We are aligned to their policies. So we do what we have to.” Tehran for its part has threatened to cut its imports of corn, soybeans and meat from Brazil – $2 billion worth of trade a year – unless the refueling is allowed. This is an extremely serious development. Food is not supposed to be — illegally — sanctioned by the Trump administration. Iran now has to use mostly barter to obtain food — as Tehran cannot remit through the CHIPS-SWIFT banking clearinghouse. If food supplies are also blocked that means that sooner rather than later the Strait of Hormuz may be blocked as well.


Beltway sources confirmed that the highest level of the U.S. government gave the order for Brasilia to stop this food shipment. Tehran knows it well – as this is part of the “maximum pressure” campaign, whose goal is ultimately to starve the Iranian population to death in a harrowing game of chicken. How this may end is described by an ominous quote I already used in some of my previous columns, from a Goldman Sachs derivatives specialist: “If the Strait of Hormuz is closed, the price of oil will rise to a thousand dollars a barrel representing over 45 percent of global GDP, crashing the $2.5 quadrillion derivatives market and creating a world depression of unprecedented proportions.” At least the Pentagon seems to understand that a war on Iran will collapse the world economy.

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For now wishful thinking, but things could move fast. Scotland will vehemently protest being taken out of the EU.

Irish PM Says No-Deal Brexit Could Lead To United Ireland (AFP)

A no-deal Brexit could lead to a united Ireland as more people in Northern Ireland would “come to question the union” with Britain, Irish Prime Minister Leo Varadkar has said. His comments came after new British Prime Minister Boris Johnson said the current Brexit deal was unacceptable and set preparations for leaving the EU without an agreement as a “top priority” for his right-wing government. Tension around the withdrawal deal centres on the so-called Irish backstop — a mechanism designed to preserve the bloc’s single market and prevent a hard border between Northern Ireland and EU member Ireland. Varadkar warned a no-deal Brexit could see more people in the North question the union with England, Scotland and Wales.


“People who you might describe as moderate nationalists or moderate Catholics who were more or less happy with the status quo will look more towards a united Ireland,” Varadkar said Friday at a summer school in county Donegal, the Irish Independent newspaper and other media reported. “And increasingly you see liberal Protestants, liberal unionists starting to ask the questions as to where they feel more at home. “Is it in a nationalist Britain that’s talking about potentially bringing back the death penalty and things like that? Or is it part of a common European home and part of Ireland?” said Vardakar, whose heavily trade-dependent nation stands to lose most from a messy EU-UK split.

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Colorful?

Dominican Republic Sends McAfee to Britain, Without Guns or Yacht (R.)

Tech guru John McAfee, creator of the eponymous antivirus computer software, has arrived in Britain from the Dominican Republic, where he was detained with his wife for entering the Caribbean nation with firearms on his yacht, his lawyer said on Friday. The attorney general’s office “asked him where he wanted to go, and he decided on London,” said lawyer Candido Simon, who McAfee hired to represent him in the Dominican Republic. McAfee, born in 1945 at a U.S. military base on British territory, has both nationalities. After Dominican authorities ensured the United States had no active legal cases or extradition requests for McAfee, they allowed him to choose where he would be sent, Simon said.


McAfee, who is seeking the Libertarian Party’s nomination for U.S. president in 2020, recently told Reuters in an interview he could help Cuba defeat the U.S. trade embargo by launching a cryptocurrency. On Friday, he asked his Twitter followers whether he should also campaign to be British prime minister. The Dominican Republic’s Public Ministry said it had seized the weaponry onboard McAfee’s yacht when it docked on the country’s northern coast and McAfee, his wife Janice, and four associates were detained.. The customs authority said it found pistols, a shotgun and bars of suspected silver on the yacht, the Great Mystery.

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Jul 182019
 


Mathew Brady Abe Lincoln 1864

 

Showdown With Trump Looms As House Votes To Block Arms Sale To Saudi Arabia (AP)
House Votes Down Democrat’s Bid To Impeach Trump Over Recent Tweets (AP)
Feds End Investigation Into Trump Org And Hush Money Payments (CNN)
Foreign Purchases Of US Homes Plunge 36%, Chinese Flee The Market (CNBC)
New Zealand’s Armour-Plated Housing Bubble (Hickey)
Extraordinary Collapse In Home Ownership In Sydney And Melbourne (SMH)
Paradigm Shifts (Ray Dalio)
Ray Dalio Says Gold Top Investment During Upcoming ‘Paradigm Shift’ (CNBC)
US Removes Turkey From F-35 Program After S-400 Purchase From Russia (R.)
Chelsea Manning’s Daily Fines for Grand Jury Resistance Increase to $1000 (SP)

 

 

It’s showdowns all the way down. It would be good if they can do this one with a bit more smart. But they’re losing everything so far, so no high hopes. Of course it’s beyond gross to be chanting “send her home” at a rally. But he’s winning it all and they are not. The Democrats need a plan, they need brains, they need to organize.

Showdown With Trump Looms As House Votes To Block Arms Sale To Saudi Arabia (AP)

Congress is heading for a showdown with President Donald Trump after the House voted to block his administration from selling weapons and aircraft maintenance support to Saudi Arabia. The Democratic-led House on Wednesday passed the first of three resolutions of disapproval, 238-190, with votes on the others to immediately follow. Trump has actively courted an alliance with Riyadh and has pledged to veto the resolutions. The Senate cleared the measures last month, although by margins well short of making them veto proof. Overturning a president’s veto requires a two-thirds majority. The arms package is worth an estimated $8.1 billion and includes precision guided munitions, other bombs, ammunition, and aircraft maintenance support.

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Very predictable and therefore very stupid. It’s no time to start fights you can’t possibly win.

House Votes Down Democrat’s Bid To Impeach Trump Over Recent Tweets (AP)

The House easily killed a maverick Democrat’s effort Wednesday to impeach President Donald Trump for his recent racial insults against lawmakers of color, in a vote that provided an early snapshot of just how divided Democrats are over trying to oust him in the shadow of the 2020 elections. Democrats leaned against the resolution by Texas Rep. Al Green by about a 3-2 margin as the chamber killed the measure 332-95. The vote showed that so far, House Speaker Nancy Pelosi has been successful in her effort to prevent a Democratic stampede toward impeachment before additional evidence is developed that could win over a public that has so far been skeptical about ousting Trump.

Even so, the numbers also showed that the number of Democrats open to impeachment remains substantial. About two dozen more conversions would split the party’s caucus in half over an issue that could potentially dominate next year’s presidential and congressional campaigns. “There’s a lot of grief, from a lot of different quarters,” Green, speaking to reporters after the vote, said of the reaction he’s received from colleagues. “But sometimes you just have to take a stand.” Every voting Republican favored derailing Green’s measure.

Pelosi and other party leaders considered his resolution a premature exercise that needlessly forced vulnerable swing-district lawmakers to cast a perilous and divisive vote. It also risked deepening Democrats’ already raw rift over impeachment, dozens of the party’s most liberal lawmakers itching to oust Trump. Recent polling has shown solid majorities oppose impeachment. Even if the Democratic-run House would vote to impeach Trump, the equivalent of filing formal charges, a trial by the Republican-led Senate would all but certainly acquit him, keeping him in office.

Read more …

And here’s another loss. It doesn’t stop.

Feds End Investigation Into Trump Org And Hush Money Payments (CNN)

Federal prosecutors in New York have ended their investigation into the Trump Organization’s role in hush money payments made to women who alleged affairs with President Donald Trump and have been ordered by a judge to release additional information connected to their related probe of former Trump lawyer Michael Cohen, according to court documents filed Wednesday. CNN reported Friday that the Manhattan US Attorney’s office had approached the end of its investigation of the Trump Organization and wasn’t poised to charge any executives involved in the company’s effort to reimburse Cohen for money he paid to silence one of the women. That payment constituted an illegal campaign contribution, according to prosecutors. Trump has denied the affair allegations.

“The campaign finance violations discussed in the Materials are a matter of national importance,” US District Court Judge William Pauley wrote in his decision. “Now that the Government’s investigation into those violations has concluded, it is time that every American has an opportunity to scrutinize the Materials.” Pauley ordered a copy of the government’s July status report and copies of search warrant materials from the Cohen case to be filed publicly with very limited redactions by Thursday at 11 a.m. ET. The conclusion of federal prosecutors’ investigation of the Trump company’s role in the Cohen matter marks a significant victory for the President’s family business, although it likely doesn’t come as a complete surprise.

There had been no contact between the Manhattan US Attorney’s office and officials at the Trump Organization in more than five months, CNN reported Friday. A lawyer for Trump, Jay Sekulow, said: “We are pleased that the investigation surrounding these ridiculous campaign finance allegations is now closed. We have maintained from the outset that the President never engaged in any campaign finance violation.”

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I see many Chinese tourists here in Athens. And often think Beijing can’t let that trend continue, because these people can’t pay for their trips in yuan. But yes, it’s easier to start with halting the outflow of larger amounts.

Foreign Purchases Of US Homes Plunge 36%, Chinese Flee The Market (CNBC)

Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, caused a stunning drop in foreign demand for American homes. The dollar volume of homes purchased by foreign buyers from April 2018 through March 2019 dropped 36% from the previous year, according to the National Association of Realtors. The decline was due to a drop in the number and average price of purchases. Foreigners bought 183,100 properties with a total value of about $77.9 billion, down from 266,800 valued at $121 billion in the previous period. They paid a median price of $280,600, which is higher than the median for all existing homebuyers ($259,600), but it was down from $290,400 the previous year.


“A confluence of many factors — slower economic growth abroad, tighter capital controls in China, a stronger U.S. dollar and a low inventory of homes for sale — contributed to the pullback of foreign buyers,” said Lawrence Yun, NAR’s chief economist. “However, the magnitude of the decline is quite striking, implying less confidence in owning a property in the U.S.” The Chinese were the leading buyers for the seventh consecutive year, purchasing an estimated $13.4 billion worth of residential property. Yet that was a 56% decline from the previous 12 months and comparatively the biggest percentage drop of all foreign buyers. Chinese economic growth slowed to 6.3% in 2019 compared with 6.9% in 2017, when the previous buyer survey began. The Chinese government also tightened its grip on the outflow of cash to purchase foreign property.

Read more …

New Zealand housing, like Australia and Vancouver, depends on the Chinese too.

New Zealand’s Armour-Plated Housing Bubble (Hickey)

New Zealanders usually welcome the praise when overseas authorities describe us as the best in the world. This time, not so much. In the past fortnight, global economic news authorities The Economist and Bloomberg Economics have both declared New Zealand houses to be vastly over-valued relative to both rents and incomes. They describe New Zealand as in bubble territory similar to those seen in other countries before the Global Financial Crisis and vulnerable to the sort of 30-40 percent price crash seen in the likes of Ireland and parts of the US through 2007 to 2010. The Economist’s long-running Global House Price Index was refreshed on June 27 with March quarter data for most countries and showed New Zealand top of the pops when it came to over-valuation relative to incomes and second most over-valued relative to rents behind Canada.

It found New Zealand prices in the December quarter of 2018 to be 57 percent over-valued relative to rents, just above Australia’s 42 percent overvalued in the March quarter. New Zealand was 113 percent over-valued relative to rents, just behind Canada’s 120 percent, The Economist found. New Zealand prices have more than trebled since 1990, while British and American prices are still less than double what they were 30 years ago. “On this basis, house prices appear to be on an unsustainable path in Australia, Canada and New Zealand,” The Economist wrote. “Ten years ago they reached similarly dizzying heights against rents and incomes in Spain, Ireland and some American cities, only to endure a brutal collapse,” it concluded.

[..] New Zealand’s housing market is now worth NZ$1.13 trillion, which is up by more than $1 trillion from NZ$123 billion in 1990. The increase is more than triple because there are more houses with more extras (decks/garages/rooms) added on. That’s $1 trillion in untaxed capital gains, which at the top marginal rate would have generated extra tax revenues of $330 billion, or enough to build nearly 700,000 new state houses or fund the next 14 years of New Zealand Superannuation payments. Our housing market is worth 3.9 times our GDP and more than 7.2 times the value of our stock market. For comparison sake, Australia’s housing market is worth A$6.6 trillion or 3.5 times Australia’s GDP and 3.3 times the value of its stock market. America’s housing market is worth US$33.3 trillion or 1.6 times US GDP and 1.5 times the value of the US stock market.

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Governments like bubbles.

Extraordinary Collapse In Home Ownership In Sydney And Melbourne (SMH)

The number of people owning their home outright has collapsed by a third as house prices have soared four-fold over the past two decades, leaving a growing number of older Australians shackled to mortgages as they head into retirement. In the mid-1990s, almost 44 per cent of people in NSW owned their home outright, but according to the Australian Bureau of Statistics this has now fallen to just 29.7 per cent. At the same time, the proportion of people in NSW with a mortgage has jumped by more than 30 per cent, with many of those heading towards their retirement years. The swing from ownership to mortgage has occurred over the past 20 years as the median house price in Sydney lifted by 460 per cent, even taking into account the recent market softening.

It’s a similar story in Victoria, where in the mid-1990s more than 45 per cent of people were mortgage-free, but now that figure has fallen to just 31 per cent. Victorians are among the most exposed to changing interest rates, with more than 37 per cent of people holding a mortgage. Two decades ago less than 30 per cent held a housing debt with their bank. Over the same period, the median house price in Melbourne has soared from $126,131 to $806,000. The Northern Territory has the smallest proportion of people who own their home outright, at just 17 per cent. Among the states, just 27 per cent of residents in Queensland and Western Australia enjoy life without a mortgage or rental payments.

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Dalio channels Minsky: stability leads to instability. He must be aware of that.

Paradigm Shifts (Ray Dalio)

There are always big unsustainable forces that drive the paradigm. They go on long enough for people to believe that they will never end even though they obviously must end. A classic one of those is an unsustainable rate of debt growth that supports the buying of investment assets; it drives asset prices up, which leads people to believe that borrowing and buying those investment assets is a good thing to do. But it can’t go on forever because the entities borrowing and buying those assets will run out of borrowing capacity while the debt service costs rise relative to their incomes by amounts that squeeze their cash flows. When these things happen, there is a paradigm shift.

Debtors get squeezed and credit problems emerge, so there is a retrenchment of lending and spending on goods, services, and investment assets so they go down in a self-reinforcing dynamic that looks more opposite than similar to the prior paradigm. This continues until it’s also overdone, which reverses in a certain way that I won’t digress into but is explained in my book Principles for Navigating Big Debt Crises [..] Another classic example that comes to mind is that extended periods of low volatility tend to lead to high volatility because people adapt to that low volatility, which leads them to do things (like borrow more money than they would borrow if volatility was greater) that expose them to more volatility, which prompts a self-reinforcing pickup in volatility.

There are many classic examples like this that repeat over time that I won’t get into now. Still, I want to emphasize that understanding which types of paradigms exist and how they might shift is required to consistently invest well. That is because any single approach to investing—e.g., investing in any asset class, investing via any investment style (such as value, growth, distressed), investing in anything—will experience a time when it performs so terribly that it can ruin you.

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Think he means that for pension funds as well?

Ray Dalio Says Gold Top Investment During Upcoming ‘Paradigm Shift’ (CNBC)

Hedge fund kingpin Ray Dalio is seeing a case for gold as central banks get more aggressive with policies that devalue currencies and are about to cause a “paradigm shift” in investing. Dalio, founder of the world’s largest hedge fund, wrote in a LinkedIn post that investors have been pushed into stocks and other assets that have equity-like returns. As a result, too many people are holding these types of securities and likely to face diminishing returns. “I think these are unlikely to be good real returning investments and that those that will most likely do best will be those that do well when the value of money is being depreciated and domestic and international conflicts are significant, such as gold,” the Bridgewater Associates leader said.

“Additionally, for reasons I will explain in the near future, most investors are underweighted in such assets, meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset. For this reason, I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio. I will soon send out an explanation of why I believe that gold is an effective portfolio diversifier.” [..] Dalio’s call comes two weeks before the Federal Reserve is expected to cut its benchmark interest rate by at least a quarter point. That move comes after a three-year cycle of raising rates from the historically accommodative near-zero levels implemented during the financial crisis.

The fresh trends are part of what he labeled a new “paradigm shift” that comes after the last one during the crisis. Investors, Dalio said, are going to need to change their mindset about what will work after the longest bull market run in Wall Street history. “In paradigm shifts, most people get caught overextended doing something overly popular and get really hurt,” he wrote. “On the other hand, if you’re astute enough to understand these shifts, you can navigate them well or at least protect yourself against them.”

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“Turkey makes more than 900 parts of the F-35..”

US Removes Turkey From F-35 Program After S-400 Purchase From Russia (R.)

The United States said on Wednesday that it was removing Turkey from the F-35 fighter jet program, a move long threatened and expected after Ankara began accepting delivery of an advanced Russian missile defense system last week. The first parts of the S-400 air defense system were flown to the Murted military air base northwest of Ankara on Friday, sealing NATO ally Turkey’s deal with Russia, which Washington had struggled for months to prevent. “The U.S. and other F-35 partners are aligned in this decision to suspend Turkey from the program and initiate the process to formally remove Turkey from the program,” Ellen Lord, the undersecretary of defense for acquisition and sustainment, told a briefing.

Turkey’s foreign ministry said the move was unfair and could affect relations between the two countries. Lord said moving the supply chain for the advanced fighter jet would cost the United States between $500 million and $600 million in non-recurring engineering costs. Turkey makes more than 900 parts of the F-35, she said, adding the supply chain would transition from Turkish to mainly U.S. factories as Turkish suppliers are removed. “Turkey will certainly and regrettably lose jobs and future economic opportunities from this decision,” Lord said. “It will no longer receive more than $9 billion in projected work share related to the F-35 over the life of the program.”

The F-35 stealth fighter jet, the most advanced aircraft in the U.S. arsenal, is used by NATO and other U.S. allies. Washington is concerned that deploying the S-400 with the F-35 would allow Russia to gain too much inside information about the aircraft’s stealth system. “The F-35 cannot coexist with a Russian intelligence collection platform that will be used to learn about its advanced capabilities,” the White House said in a statement earlier on Wednesday.

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One of my greatest heroes. She does what Muhammad Ali did.

Chelsea Manning’s Daily Fines for Grand Jury Resistance Increase to $1000 (SP)

Daily fines against Chelsea Manning for resisting a grand jury investigating WikiLeaks increased to $1000 on July 16. On May 16, Judge Anthony Trenga held Manning in civil contempt and ordered her to be sent back to the William G. Truesdale Adult Detention Center in Alexandria. The court also imposed a fine of $500 per day after 30 days, and then a fine of $1000 per day after 60 days. From June 16 to July 15, the court fined her $500/day. Those fines total $15,000. If Manning “persists in her refusal” for the next 15 months or until the grand jury’s term ends, her legal team says she will face a total amount of fines that is over $440,000. This excessive amount may violate her Eighth Amendment rights under the Constitution.


In May, Manning’s attorneys filed a motion challenging the harshness of the fines. The federal court has yet to rule on the motion or hold a hearing. The motion asserted there is no “appropriate coercive sanction” because Manning will never testify. She should be released from jail and relieved of all fines. “Ms. Manning has publicly articulated the moral basis for her refusal to comply with the grand jury subpoena, in statements to the press, in open court, and most recently, in a letter addressed to this court,” her attorneys stated. “She is suffering physically and psychologically, and is at the time of this writing in the process of losing her home as a result of her present confinement.”

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Jul 172019
 


Salvador Dali Mme. Reese 1931

 

The circus will be coming to town a week later, but not to worry, the show will go on longer and there will be many added attractions, including a full troop of 800-pound gorillas and an entire herd of 8000-pound elephants in the room. And once the balancing acts, the clowns and the ferocious beasts pack up and move on, America might find itself without a Democratic Party, or at least one it would recognize.

The circus is the testimony of Robert Mueller before the House Judiciary (extended to 3 hours) and Intelligence Committees (2 hours). The Democrats will aim to use Mueller’s words to finally achieve their long desired impeachment of Donald Trump. But is there anyone who’s not a US Democrat who thinks that is realistic? House Speaker Nancy Pelosi doesn’t seem to think so.

In order for the Dems to get their wish, Mueller would have to say a lot of things that are not in his report. It all appears to hang on the interpretation of his assessment that a sitting president cannot be prosecuted, which the Dems take to mean that there actually was a crime that could -or should- be prosecuted.

It’s not clear why the hearing was delayed from July 17 to 24, but don’t be surprised if it has to do with US District Judge Dabney Friedrich’s decision that Mueller must stop talking in public about a case that is in front of her, because his words might prejudice a jury. That is the case that Mueller brought in February 2018 against Internet Research Agency, Concord Management, their owner Yevgeniy Prigozhin (aka Putin’s cook), and 12 of his employees.

Mueller thought he could get away with presenting a case against them because they would not show up, but Prigozhin did hire a major law firm. Ironically, Friedrich has reportedly also decided that the lawyers cannot talk about the case to their own client(s). She hasn’t thrown out the case or anything, she’s simply told everyone including Mueller to stop discussing it in public.

 

So it’s quite possible that once the House Democrats figured this out (the decision stems from May 28 but was unsealed only on July 1), they had to change strategy. Mueller has been barred from saying a single word about it, including in the House.

In his report, Mueller tried to establish a link between the Russian firms and the Kremlin, but never proved any such link. They are accused of meddling in the 2016 election through emails and social media posts, an accusation that looks shakier by the day.

With that part of his report out of the way, what is left for him to talk about? He himself already gave up on the whole collusion narrative, which would appear to leave only obstruction. Well, there’s the Steele dossier, but with John Solomon blowing another gaping hole in it yesterday, that may not be the wisest topic to discuss on the House floor. By now, only the very faithful still believe in the dossier.

The Republicans surely don’t, and they also happen to be House members, and get to ask questions of Mueller on the 24th. The spectacle last night where Nancy Pelosi insisted on calling Trump a racist was nutty (you don’t do that in the House), but the Mueller hearings promise to be much much more nuts still.

 

In the background a second investigation is playing out: DOJ IG Michael Horowitz has been probing if DOJ or FBI officials abused their powers to spy on the Trump campaign. His report has been delayed, if reports are correct, because Christopher Steele at the very last minute agreed to testify. Those talks apparently were long and detailed. Wonder what he had to say.

And there’s a third probe too: AG Barr has tasked John Durham, the US attorney for Connecticut, to follow up on the Horowitz report and look at whether officials at the CIA, the NSA, and/or foreign intelligence agencies (think MI6), violated protocols or statutes.

That case is about whether the FISA court was misled to secure a warrant to put Trump campaign aide Carter Page under surveillance. It can also take a new look at the text messages between Peter Strzok and Lisa Page, messages that Trump tweeted about on Saturday: “This is one of the most horrible abuses of all. Those texts between gaga lovers would have told the whole story. Illegal deletion by Mueller. They gave us “the insurance policy.”

The deletion reportedly may have been accidental. But it does set the tone. The door is wide open for the Republicans to go after Mueller. And he knows it, always has. He never wanted the hearings, he said it was all in his report. But the Dems wanted more, they want Mueller to say Trump is guilty of obstruction (of a probe that perhaps should never have taken place).

Personally, I wonder whether a Republican congressman/woman will have the guts to ask Mueller why he refused to talk to Julian Assange, the most obvious person for him to talk to in the whole wide world. But since the GOP hates Assange as much as the Dems, I don’t have high hopes of that happening.

What they certainly will ask is when he knew his probe wasn’t going anywhere. And if that was perhaps as much as a whole year before he presented his report. The Dems will tear into Mueller looking for obstruction. Like: if Trump were not the president, would you sue him? Problem with that is none of this would have happened if Trump were just a citizen.

But I lean towards Ray McGovern’s take, who says that the circus may not come to town on July 24 either. Because there’s no there there (something Peter Strzok himself said about the Steele dossier), and because the Dems know this is their last shot at glory. And the GOP doesn’t mind another week or so of preparation.

Since the Democrats, the media, and Mueller himself all have strong incentive to “make the worst case appear the better” (one of the twin charges against Socrates), they need time to regroup and circle the wagons. The more so, since Mueller’s other twin charge — Russian hacking of the DNC — also has been shown, in a separate Court case, to be bereft of credible evidence. No, the incomplete, redacted, second-hand “forensics” draft that former FBI Director James Comey decided to settle for from the Democratic National Committee-hired CrowdStrike firm does not qualify as credible evidence.


Both new developments are likely to pose a strong challenge to Mueller. On the forensics, Mueller decided to settle for what his former colleague Comey decided to settle for from CrowdStrike, which was hired by the DNC despite it’s deeply flawed reputation and well known bias against Russia. In fact, the new facts — emerging, oddly, from the U.S. District Court, pose such a fundamental challenge to Mueller’s findings that no one should be surprised if Mueller’s testimony is postponed again.

And I was serious when I said before that once the Mueller hearings are done, “America might find itself without a Democratic Party, or at least one it would recognize”. Because if and when the Mueller circus fails to provide the impeachment dream (try elections!), where are they going to go, what else is there to do?

They’ve been clamoring for impeachment for collusion (big fail), for obstruction (Mueller wouldn’t have it) and now racism, but that is merely based on interpretation of tweets. Nancy Pelosi wrote about ‘women of color’, not Donald Trump.

America needs a strong Democratic party, and it certainly doesn’t have one right now. The Dems should be calling for an end to regime change wars, that is a popular theme among their voters. But they don’t, because guess where their money comes from. They are in a very deep identity crisis, and Trump just has to pick them off one by one. They should look at themselves, not at him. Do these people ever do strategy?

 

 

 

 

 

 

May 222019
 
 May 22, 2019  Posted by at 9:48 am Finance Tagged with: , , , , , , , , , , ,  


James Ensor The oyster eater 1882

 

Mueller Refuses To Testify Publicly Before Congress (ZH)
Democrats’ Impeachment Divide Tests Pelosi (NPR)
We’ve Hit a New Low in Campaign Hit Pieces (Matt Taibbi)
US ‘Sees Signs’ Damascus ‘May’ Have Used Chlorine In Idlib (RT)
EU Despairs At Emptiness Of May’s Latest Brexit Offer (G.)
UN Report Compares Tory Welfare Policies To Creation Of Workhouses (G.)
The Assange/Manning Cases Discredit Humanity (PCR)
Will FAA’s Plan For 737 MAX Fly Outside US? (AFP)
Chinese Airlines Seek Boeing Compensation Over 737 MAX Grounding (R.)
Tesla Stock ‘Bear Case’ Is $10 – Morgan Stanley (MW)
IMF Admits ‘Notable Failures’ In Bailout Deepened Greek Recession (KTG)
Netherlands Becomes First AAA Rated Sovereign To Launch Green Bond (R.)

 

 

Nobody wants to talk to these people anymore. Because it’s become a circus act.

Mueller Refuses To Testify Publicly Before Congress (ZH)

With most Congressional Democrats still stunned from the anticlimatic publication of Mueller’s “Russiagate” report, which found that Trump did not collude with Russia, many have been desperate to hear Mueller’s side of the story perhaps in hopes that he will unveil some smoking gun in public (something he failed to do in his report) while the others have quietly turned on Mueller, asking why after a two year probe, he failed to put Trump behind bars. And now, after the latest development in the never-ending Russia “witch hunt” to paraphrase the president, it won’t be long before virtually all Democrats are convinced that Mueller himself must also a Putin plant.

According to Bloomberg, which cites three people familiar with the special counsel’s position, Robert Mueller has balked at testifying publicly before Congress, pushing instead for a closed-door appearance in negotiations with House Democrats. Why? Because Mueller, who was the center of a media and political circus for no less than two years has told the Democratic-controlled House Judiciary Committee that – get this – he doesn’t want to be dragged into a political fight and that he’s hesitant to publicly discuss his final report. Among the options Mueller has raised is making a public statement before the committee questions him in private, the people said. But why if he has nothing to hide, and if all the results of his multi-million probe were disclosed in his report?

As a reminder, the NYT and WaPo recently sparked more Russiagate drama, when they reported that Mueller had written AG William Barr to complain that he’s given summaries of the report’s findings that “did not fully capture the context, nature and substance” of his team’s work. A more detailed read of the report also revealed that Mueller did not actually have complaints about Barr’s representation of his lengthy report but was instead bashing the media – such as the NYT and WaPo. As the WaPo reported earlier, Mueller III and House Democrats “have been unable to reach an agreement on how much of the special counsel’s expected congressional testimony would be public, and how much would take place in private, according to people familiar with the matter.”

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Impeachment as a simple political tool: not so much because they want to impeach the president, but because it would give them added powers. Shaky.

Democrats’ Impeachment Divide Tests Pelosi (NPR)

House Speaker Nancy Pelosi will convene a meeting Wednesday morning to hear from Democrats on whether to move forward with impeachment proceedings against President Trump. Pelosi, a public skeptic of impeachment, is confronting a rising tide of support for it among rank-and-file House Democrats and members of her own leadership team. Democrats are outraged by the Trump administration’s ongoing effort to stymie congressional oversight into the president, his administration, and the findings in special counsel Robert Mueller’s report. “She’s hearing the views of the caucus, and listening to different perspectives and we’re having that debate,” said Rep. Seth Moulton, D-Mass., who is running for president.

Moulton supports opening an impeachment inquiry based on the argument being made by a number of Democrats that it gives the House a stronger legal hand in securing documents, testimony and cooperation from the Trump administration. “I don’t think there’s any question but there’s a growing realization in the caucus that impeachment is inevitable. It’s not a question of if but when,” said Rep. John Yarmuth, D-Ky., a member of the leadership’s whip team. Yarmuth said the administration’s “blanket resistance” to their oversight efforts is changing the calculation. “I think the speaker is right that these investigations need to go on. I don’t think they should go on interminably,” he said, adding that he expected a decision on impeachment to be made by the end of the summer.

Yarmuth and other top leaders have characterized those pushing for impeachment as a small but growing minority dissatisfied with Pelosi’s focus on traditional committee investigations. The group largely confined their frustrations to closed-door sessions until recently. “I think what is happening is that the initial aim was to investigate and then see what we had. The problem is we can’t get any information. The president is blocking us,” House Oversight and Reform Committee Chairman Elijah Cummings, D-Md., said. “I think we’re in a position where we’re moving more and more towards [impeachment] because he’s not leaving us with any choices. You don’t have any choices.” Cummings maintained that moving ahead with impeachment could assist their efforts. “Once you file for impeachment you’re under a whole new different set of rules. And you have a much broader opportunity to get things.”

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This should test Pelosi a lot more than the impeachment stuff.

We’ve Hit a New Low in Campaign Hit Pieces (Matt Taibbi)

Last week, the Daily Beast ran this headline: “Tulsi Gabbard’s Campaign Is Being Boosted by Putin Apologists” That was followed by the sub headline: “The Hawaii congresswoman is quickly becoming the top candidate for Democrats who think the Russian leader is misunderstood.” The Gabbard campaign has received 75,000 individual donations. This crazy Beast article is based on (maybe) three of them. The three names are professor Stephen Cohen, activist Sharon Tennison and someone using the name “Goofy Grapes,” who may or may not have once worked for comedian Lee Camp, currently employed by Russia Today. This vicious little article might have died a quiet death, except ABC’s George Stephanopoulos regurgitated it in an interview with Gabbard days later.

The This Week host put up the Beast headline in a question about whether or not Gabbard was “softer” on Putin than other candidates. Gabbard responded: “It’s unfortunate that you’re citing that article, George, because it’s a whole lot of fake news.” This in turn spurred another round of denunciations, this time in the form of articles finding fault not with the McCarthyite questioning, but with Gabbard’s answer. As Politico wrote: “’Fake news’ is a favorite phrase of President Donald Trump…” Soon CNN was writing a similar piece, saying Gabbard was using a term Trump used to “attack the credibility of negative coverage.” CNN even said Gabbard “did not specify what in the article was ‘fake,’” as if the deceptive and insidious nature of this kind of guilt-by-association report needs explaining.

“Stephanopoulos shamelessly implied that because I oppose going to war with Russia, I’m not a loyal American, but a Putin puppet,” Gabbard told Rolling Stone. “It just shows what absurd lengths warmongers in the media will go, to try to destroy the reputation of anyone who dares oppose their warmongering.”

Read more …

With the leaked file from an OPCW expert discrediting the Douma report, it’s time to double down: a new false flag casts doubt on last year’s file as well. 2 for the price of 1.

Or you could say: it’s another Syria chemical attack accusation! It must be spring then!

US ‘Sees Signs’ Damascus ‘May’ Have Used Chlorine In Idlib (RT)

The US State Department has accused the Syrian government of a recent chemical attack and threatened it with a ‘quick and appropriate’ response – while admitting it has little information to substantiate the allegations.
In a statement on Tuesday, Washington alleged that the government of Syrian President Bashar Assad is likely to be found responsible for allegedly using chlorine to attack civilians in militant-controlled areas of Idlib province. “We continue to see signs that the Assad regime may be renewing its use of chemical weapons, including an alleged chlorine attack in northwest Syria on the morning of May 19, 2019,” the statement says. Despite the evident uncertainty, the State Department adopted the habitually threatening stance against Damascus.

“We are still gathering information on this incident, but we repeat our warning that if the Assad regime uses chemical weapons, the United States and our allies will respond quickly and appropriately.” The State Department also lashed out at Moscow for its efforts to expose the White Helmets, the self-proclaimed civil defense group that operates exclusively in militant-controlled areas and has been accused of associating with extremists and staging chemical attacks. Having invested heavily in the White Helmets along with other Western nations, Washington accused Moscow and Damascus of trying to “create the false narrative that others are to blame for chemical weapons attacks that the Assad regime itself is conducting.”

Meanwhile, according to the State Department, “the Assad regime’s culpability in horrific chemical weapons attacks is undeniable.” It just so happens that these latest claims come after a newly-surfaced report by an engineer from the Organisation for the Prohibition of Chemical Weapons (OPCW) that calls into question the March OPCW report accusing Damascus of being behind the Douma chemical incident last April. The new report, which suggested that gas canisters were placed at the scene of the attack by hand, potentially by ‘rebel’ militants active in the area, went virtually unnoticed in the West. Several celebrity activists have called out the mainstream media over their lack of coverage.

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Delivering the country to Farage. May will be gone by June.

EU Despairs At Emptiness Of May’s Latest Brexit Offer (G.)

Theresa May’s “bold offer” to MPs ahead of a final vote on the Brexit deal consisted of a series of platitudes and the restatement of negotiating objectives that have already been rejected, EU officials said in response to the prime minister’s appeal to the Commons. As Conservative MPs who have previously voted in favour of the withdrawal agreement turned on May over the speech, the response in Brussels was one of despair at what was viewed as the emptiness of the prime minister’s proposals. Most significantly, the suggestion that the political declaration could be rewritten to emphasise the ability of the government to achieve something amounting to “frictionless trade” caused concern.


May appeared to suggest that the government’s policy was to seek a customs arrangement that delivers the same benefits as today along with the renewed ability to make independent trade deals. The alternative, May said, was a compromise position with Labour in which the government negotiated a temporary customs union on goods only which would include a UK say in relevant EU trade policy and an ability to change the arrangement following a general election.

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‘The UK’s social safety net has been “deliberately removed and replaced with a harsh and uncaring ethos..”

UN Report Compares Tory Welfare Policies To Creation Of Workhouses (G.)

A leading United Nations poverty expert has compared Conservative welfare policies to the creation of 19th-century workhouses and warned that unless austerity is ended, the UK’s poorest people face lives that are “solitary, poor, nasty, brutish, and short”. In his final report on the impact of austerity on human rights in the UK, Philip Alston, the UN rapporteur on extreme poverty, accused ministers of being in a state of denial about the impact of policies, including the rollout of universal credit, since 2010. He accused them of the “systematic immiseration of a significant part of the British population” and warned that worse could be yet to come for the most vulnerable, who face “a major adverse impact” if Brexit proceeds.


He said leaving the EU was “a tragic distraction from the social and economic policies shaping a Britain that it’s hard to believe any political parties really want”. The New York-based lawyer’s findings, published on Wednesday, follows a two-week fact-finding mission in November after which he angered ministers by calling child poverty in Britain “not just a disgrace but a social calamity and an economic disaster”. Now he has accused them of refusing to debate the issues he raised and instead deploying “window dressing to minimise political fallout” by insisting the country is enjoying record lows in absolute poverty, children in workless households and low unemployment.

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Not PCR’s finest.

The Assange/Manning Cases Discredit Humanity (PCR)

No one has protested the open and highly visible effort to force Manning to commit perjury that can be used to build a case against Assange or otherwise be imprisoned for “contempt” and fined into penury. The despicable liberal-progressive-left whores that comprise the US print and TV media and NPR will not protest the injustice. They hate Manning and Assange for having more integrity than all of them together. The conservative talk radio hosts won’t protest the attempt to coerce Manning, because they love Trump, Washington’s wars, and hate “anti-Americans,” which is everyone who dares tell the truth about the US. On conservative talk radio on May 17, I heard one popular host say “I am happy Manning is in prison.”


No US senators or representatives and neither the Senate or House judiciary committee sees anything untoward in forcing an American citizen to produce the needed lies for framing up the world’s best journalist. Law schools and bar associations are not demanding the corrupt US attorney to be disbarred for violating every precept laid down by US Attorney General, Supreme Court Justice, and Nuremberg prosecutor Robert Jackson. Nor are they demanding the impeachment of the corrupt federal district judge, who perhaps has his eye on appointment to the appeals court for his cooperation in finishing off the First Amendment.

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It’s still only that software fix. For a hardware problem. Everybody better have some tough talks with their lawyers. One more fail and you’re going to prison.

They add an alert light for when the two sensors conflict. But that requires a third sensor.

Will FAA’s Plan For 737 MAX Fly Outside US? (AFP)

Getting Boeing’s top-selling 737 MAX back in the skies faces a critical test this week as the company and US regulators each seek to restore their reputations after two deadly crashes. The US Federal Aviation Administration convened a summit of global aviation regulators on Thursday to walk through the steps taken to address concerns with the MAX following criticism the agency dragged its feet on the decision to ground the jets. Most agencies around the world have said little or nothing about the situation since the 737 MAX was grounded .. So the gathering in Fort Worth, Texas is expected to provide clues as to whether the aviation safety authorities will be willing to set aside any skepticism about the FAA, which has not yet given the green light for the 737 MAX to fly again.


Regulators “are going to want a lot of explanation,” said Richard Aboulafia of the Teal Group. “We’re going to learn a lot.” The FAA would prefer to have other agencies quickly follow its lead — which previously would have been likely — but several aviation experts think that is improbable. Europe and Canada could follow the US by weeks in allowing the MAX jets to return to the skies. China is a wildcard. It was the first country to order the planes grounded in March, and has been sparring with the US for months over trade policy. The FAA said 57 agencies from 33 countries will attend the summit, including China, France, Germany, Britain, India, Indonesia and Ethiopia, as well as the European Union Aviation Safety Agency (EASA) and the United Nation’s International Civil Aviation Organization.

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Nice one for the trade war.

Chinese Airlines Seek Boeing Compensation Over 737 MAX Grounding (R.)

China’s three biggest airlines have requested compensation from U.S. planemaker Boeing Co for losses incurred by the grounding and delayed deliveries of 737 MAX jets, as regulators gather to discuss design changes for the troubled aircraft. Chinese state television on Wednesday reported that Air China and China Southern Airlines have added their voices to a request from China Eastern Airlines Corp Ltd a day earlier. China was the first country to ground the 737 MAX globally after a crash in Ethiopia killed 157 people in March, in the second such incident for Boeing’s newest aircraft.


The compensation requests come as the U.S. Federal Aviation Administration hosts global regulators in Dallas on Thursday to review 737 MAX software and training proposals from Boeing before deciding whether and when to end the two-month grounding. The International Air Transport Association has convened a meeting of airlines with grounded 737 MAX jets for the same day in Montreal. Other carriers including Turkish Airlines, United Airlines, Ryanair and Flydubai have also asked Boeing for compensation.

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From $205 now.

Tesla Stock ‘Bear Case’ Is $10 – Morgan Stanley (MW)

Tesla Inc. shares slid further on Tuesday after analysts at Morgan Stanley said their worst-case scenario for the stock is $10, mostly on concerns about faltering demand and worries that the Silicon Valley car maker might have grown “too big.” Analysts led by Adam Jonas kept their rating on Tesla stock their equivalent of neutral. The $10 “bear case” was revised from $97, and the analysts’ “bull case” is $391. Tesla shares ended 0.1% lower at $205.08 on Tuesday after trading as low as $196.04 during the session. The stock has been caught in a technical downdraft and a fresh volley of Wall Street criticism amid the company’s attempts to curb expenses and keep growing.


Tesla bonds went the way of the shares, and the 2025 bonds recently traded at 82.919 cents on the dollar to yield 8.932%, according to trading platform MarketAxess. On a spread basis, the notes were 676 basis points over Treasurys, 35 basis points wider on the day.

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But nobody’s to blame except the Greeks.

IMF Admits ‘Notable Failures’ In Bailout Deepened Greek Recession (KTG)

The International Monetary Fund (IMF) has admitted “notable failures” in the first Greek bailout including a deeper-than-expected recession, a run on the country’s banking system and exceptionally high unemployment. The IMF’s Review of Program Design and Conditionality provides a deep look into the design of 133 IMF-supported lending programs in operation between September 2011 and December 2017. The IMF research paper said the multi-billion rescue package for Greece failed to restore market confidence, that the fiscal adjustment proramme had notable failures, wrong projections and overlook. It also admitted that delays in debt restructuring saved the foreign banks but it was of little help for Greece. The PSI of March 2012 did not help either.

The review also identified several factors that potentially inhibited programs from fully reaching their objectives. Overoptimistic economic forecasts reduced a program’s chances of success; accordingly, the review recommends using a more conservative approach to economic forecasts and providing deeper analyses of the impact that policies under the program could have on economic growth. More extensive contingency planning should also be included when designing programs. Public debt is a case in point. Debt sustainability improved in most cases where debt vulnerabilities started out high. In some programs, however, debt exceeded the Fund’s initial projection by considerable margins. Fund policies are already in place to deal with unsustainable debt in Fund-supported programs.

While any debt restructuring needs to be considered on a case-by-case basis, more careful diagnosis is essential—this means sharper tools for the IMF’s debt sustainability analysis are needed to reduce any bias in judgement when assessing debt. The review finds many programs applied fiscal adjustments that were less growth-friendly than initially envisaged. Fiscal adjustment tended to be achieved by cutting public investment, possibly curtailing future growth, rather than by lowering current spending or raising revenue. To be a more useful guide for the government’s fiscal policy, an IMF program could set more granular targets, like a floor for critical public investments.

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This is “get rich while you save the planet” idiocy. Don’t fall for it.

Netherlands Becomes First AAA Rated Sovereign To Launch Green Bond (R.)

The Netherlands became on Tuesday the first AAA-rated sovereign to offer investors a green bond, saying it would give preference to funds that prove their own environmentally friendly credentials. The government said it aimed to raise up to 6 billion euros ($6.7 billion) from the issue, although bankers said order books on the 20-year euro-denominated bond had climbed past 20 billion euros. The Netherlands follows euro zone peers Poland, France, Belgium and Ireland which have all sold green bonds. The initial price guidance was put in a range of 18 to 21 basis points (bps) over a benchmark German bond. The spread was finally set at 18 bps over, banking sources told Reuters.


The bond was offered at an auction in which there was no underwriting role for primary dealers and client bids were placed directly with the Dutch debt agency. Other euro zone sovereigns have issued green bonds via syndication. Investors and bankers said it was the first time they had seen the issuer, in this case the Dutch debt agency DTSA, explicitly prioritizing investors with green credentials and offering them a more favorable allocation. “That’s an interesting step,” said Ross Hutchison, a bond fund manager, at Aberdeen Standard Investments in Edinburgh. Investors who proved their green credentials will be given an additional allocation of up to 10%, which a banker said meant that a green investor placing an order for 50 million euros could expect to be allocated up to 55 million euros.

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May 192019
 
 May 19, 2019  Posted by at 9:48 am Finance Tagged with: , , , , , , , , , , , ,  


Caravaggio The calling of St. Matthew 1599-1600

 

E-Commerce Crushes Mall Retailers One by One (WS)
Democrats Run Out Of Stunts To Pull From Impeachment Playbook (Turley)
Salvini and Le Pen Rally To Unite European Nationalists In Milan (EN)
Nigel Farage Faces Investigation By EU Parliament Over Undeclared Gifts (Ind.)
UK Tories Will Split If Boris Johnson Becomes Leader, Warn MPs (Ind.)
Labour Panics As Remain Voters Switch To Liberal Democrats (G.)
Boeing Acknowledges Flaw In 737 MAX Simulator Software (AFP)
France’s ‘Yellow Vests’ Mark Six Months Of Protests (AFP)
Four More Chinese Cities Warned Over Pace Of Home Price Growth (R.)
You’re Not Getting Enough Sleep—And It’s Killing You (Wired)

 

 

Changing the look and feel of our towns and cities beyond recognition.

E-Commerce Crushes Mall Retailers One by One (WS)

E-commerce sales in the first quarter soared 12.4% from a year ago to $127.3 billion (not seasonally adjusted), the Commerce Department reported on Friday. Last year, e-commerce sales blew through the $500-billion level for the first time ($513.6 billion). For 2019, e-commerce is on track to hit $575 billion, an increase of $61 billion. Over the past five years, e-commerce sales have doubled. On a seasonally adjusted basis, e-commerce sales in Q1 hit an all-time high of $137.7 billion. E-commerce includes sales by the online operations of brick-and-mortar retailers. The top ones have huge and thriving online operations: Walmart, Home Depot, BestBuy, and Macy’s in that order are the fourth through seventh largest e-commerce sites in the US, behind Amazon, eBay, and Apple. So this is the business Macy’s brick-and-mortar stores are in:

But none of the major retailers, with one exception, disclose just how much of their own booming e-commerce sales have eaten into their brick-and-mortar sales. Macy’s, for example, just reported a decline in net sales in Q1 compared to a year ago, but “double-digit growth in our digital business” – the only thing Macy’s said about its e-commerce sales. With overall revenues declining and e-commerce sales booming, its brick-and-mortar operations must have been beset by plunging sales. But Macy’s keeps this data secret.

[..] People say that e-commerce accounts for only a small portion of total retail sales (10.2% in Q1) and therefore doesn’t matter. But this is misleading because e-commerce has not yet made major inroads into sales at gasoline stations, auto dealers, and grocery and beverage stores that together account for 52% of all brick-and-mortar sales. With those taken out of the tally, e-commerce now amounts to 23.6% of the remaining 48% of retail sales.

The stores that are directly targeted by e-commerce are the classic mall stores: Department stores (Sears Holdings, Bon-Ton Stores); book stores (see Borders, B. Dalton, Waldenbooks); video stores (Blockbuster); music stores (Tower Records); hardware and hobby (Orchard Supply Hardware); toy stores (Toys ‘R’ Us); jewelry and accessory stores (Claire Stores); sporting goods stores (Sports Authority); electronics and appliance stores (Circuit City, CompUSA); clothing and clothing accessory stores (Limited Stores, Pacific Sunwear, Aeropostale); and shoe stores (Payless Shoe Source).

So yes, e-commerce is only 10.2% of total retail sales. But it has already killed entire retailer categories, such as video stores, and is killing others while it is leaving other retailer categories essentially unscathed, such as gas stations, auto dealers, and grocery stores – though that may change in the future.

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The chasm is a mile wide. And impeachment is even further away than that.

Democrats Run Out Of Stunts To Pull From Impeachment Playbook (Turley)

Democrats had called for Mueller to appear before them on Wednesday. Mueller did not show, despite Barr showing a willingness to have him testify. Instead, the committee called for a hearing with constitutional experts to discuss the executive privilege claims raised by the White House. I was one of those experts, and the hearing did not exactly turn out as the Democrats planned. They have insisted that President Trump had already waived privilege to undisclosed evidence shown to Mueller. The committee witnesses, however, agreed that there is no such waiver. Worse, the witnesses agreed that Barr could not release the “full and unredacted report” to Congress including any grand jury, or Rule 6(e), evidence. That is in direct contradiction to weeks of demands for the unredacted report along with a subpoena that demanded disclosure of the entire report.

The committee maintained that “neither Rule 6(e) nor any applicable privilege barred disclosure of these materials to Congress.” Yet, the expert witnesses it called on have now testified that is not true. As I noted to the committee, the subpoena, which is the very basis for the earlier contempt vote, was demanding an unlawful act from Barr, and the committee then held him in contempt for not committing that unlawful act. The key to setting up someone for contempt of Congress is to draft a subpoena that he might actually be able to legally fulfill. Notably, despite all of the punditry and cable news coverage of it, the contempt citation has not yet been submitted to the full House for a vote, let alone to a court for review. That is probably not because the contempt case is too strong.

[..] One reason for the waning audience is that Democrats are stepping on their own lines. The week that their witnesses were contradicting the position of the House Judiciary Committee and the staff was marketing Mueller CDs, Democrats held a closed door party caucus. In it, House Speaker Nancy Pelosi reportedly told Democratic members she has no intention of moving on impeachment. Imitating disgruntled Democratic voters, Pelosi said, “Some of our folks are a little bit ‘Why are we not impeaching the president?” She then added, “They get a little down.”

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Guy Verhofstadt, Brexit co-ordinator for the European Parliament: “What links Strache, Le Pen, Salvini & Farage? They are all far-right, they all do Russia’s bidding & they all want to destroy the EU. They say they are patriots, I say they are traitors to traditional European values & freedoms.”

Collusion all over again. Blame someone else, never yourself.

The right has no choice but to unite, the EU parliament contains blocks of parties from at least 7 nations that are required to get seats. But what do these people really agree on?

Salvini and Le Pen Rally To Unite European Nationalists In Milan (EN)

Nationalist parties from across Europe held a rally on Saturday in Milan promising to reshape the continent through next week’s EU parliamentary election. Headlining the event was Italian Deputy Prime Minister Matteo Salvini and Marine Le Pen of France’s National Rally (RN). The two populists are eager for their Europe of Nations and Freedom (ENF) group to become the third largest party in Brussels. “There are no extremists, racists or fascists in this square,” Salvini said. “Here you won’t find the far-right, but the politics of good sense. The extremists are those who have governed Europe for the past 20 years.” Thousands of flag-waving supporters of Salvini’s League party packed a rain-soaked central Milan square to see far-right and anti-immigrant leaders from 11 European Union countries present a common front in their battle to pull back power from Brussels.


“This is a historic moment,” said RN leader Marine Le Pen, “we say no to this immigration which has submerged our nations, putting our people at risk,” she said, playing up an issue that has helped fuel support for nationalist groups. Hundreds of opponents gathered on the sidelines, their boos, jeers and whistles sometimes drowning out the speakers. “Fascists leave Milan,” they chanted as Salvini took the stage. The ENF also includes Austria’s Freedom Party, Belgium’s Vlaams Belang and the Netherlands’ Party for Freedom, whose head Geert Wilders was present in Milan. But despite their shared dislike of immigration and the EU, Europe’s populists remain divided on many key issues on the continent, including budgetary discipline, migrant distribution and relations with Moscow.

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He hides £450,000. They can fine him £8,800. Nuff said.

Nigel Farage Faces Investigation By EU Parliament Over Undeclared Gifts (Ind.)

Nigel Farage is facing an investigation by European parliament authorities over claims that he failed to declare nearly half a million pounds in gifts from an insurance tycoon under investigation by the National Crime Agency. It was claimed this week that the Brexit Party leader has been given as much as £450,000 in kind by Arron Banks, including a chauffeur-driven car, rent and bills on a £4.4m Chelsea home, and lavish trips to the United States to meet with right-wing politicians. But none of the gifts, detailed in invoices seen by Channel 4 News, were declared on Mr Farage’s register of interests with the European parliament, which is designed to prevent MEPs from keeping their conflicts of interests secret. In a letter seen by The Independent, one of the European parliament’s quaestors – MEPs responsible for the body’s financial and administrative matters – calls on the parliament’s presidency to “investigate these apparent contraventions as a matter of urgency”.

The push for an inquiry comes days before British voters are set to go to the polls for the European parliament elections, with Mr Farage’s Brexit Party thought to be heading for a runaway victory with an anti-EU, anti-establishment message. “As you will be aware, the code of conduct for members of the European parliament with respect to financial interests and conflicts of interest, in particular Article 6(1) of the implementing measures, makes it clear that members shall disclose their attendance at events organised by third parties where the reimbursement of their travel, accommodation or subsistence expenses, or the direct payments of such expenses, is covered by a third party,” Catherine Bearder, the quaestor who is also a Liberal Democrat MEP, said in the letter to Antonio Tajani, president of the European parliament.

“I can see no reference to any of the reported travel or accommodation subsidies related to Mr Farage’s US tour on any of his declarations of financial interests on the parliament’s website.” She noted that Mr Banks was “currently under investigation by the National Crime Agency over the source of his funding for the Brexit campaign”. [..] Under European parliament rules, Mr Farage could be fined up to around €10,000 (£8,800) through withholding of his subsistence allowance if he is found to have broken the rules. [..] Last year, in a separate run-in with expenses rules, Mr Farage had his MEP salary docked by more than £35,000 to recoup misspent EU funds intended for the staffing of his office.

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Not a much loved man. For good reason if you ask me.

UK Tories Will Split If Boris Johnson Becomes Leader, Warn MPs (Ind.)

Electing Boris Johnson leader on a no-deal Brexit ticket would risk a permanent split in the Conservative Party, a former minister has warned. The former foreign secretary has established himself as firm favourite to succeed Theresa May as prime minister in a contest many in Westminster expect to be triggered within weeks. It comes as the prime minister prepares to deliver a speech on Brexit this week, in what a government source billed as a “bold offer” to MPs in a last-ditch attempt to build support for her beleaguered Brexit bill in the Commons. A poll conducted shortly after he confirmed he would stand on Thursday put him on 39 per cent support among party members, well ahead of his nearest rival Dominic Raab on 13 per cent.

But he must first win his way through an MPs’ vote onto the shortlist of two presented to the membership in the country. Foreign secretary Jeremy Hunt is currently thought to be leading in the race to sign up MP supporters, with Mr Johnson, Mr Raab and Michael Gove grouped together some way behind, and a wide range of other potential candidates yet to make real inroads. But Phillip Lee, who quit Ms May’s government last year over her EU withdrawal policy, told The Independent that Mr Johnson would risk the Conservatives’ hold on power and the future of the party if he took it down a no-deal route.

It would be a “sweet irony” if the Brexit figurehead found himself forced to deliver a Final Say referendum because there was no majority in parliament for no deal, he said. “I don’t think it is necessarily a personality who splits the party, I think the policy might,” said Mr Lee, who now chairs the Right to Vote group of Tory advocates of a referendum. “I don’t think a no-deal Brexit leaves the party intact. If that becomes the policy of the winning candidate, expect interesting times to follow.”

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More panic. Everybody panics now. Like they couldn’t have seen this coming.

Labour Panics As Remain Voters Switch To Liberal Democrats (G.)

Senior Labour figures were engaged in a desperate battle to shore up the party’s support on Saturday night, amid warnings that its stance on Brexit was helping to “detoxify the Lib Dems”. With just days left before the European elections at which Nigel Farage’s Brexit party is expected to triumph, shadow cabinet ministers are among those concerned that Labour’s ambiguous position on Brexit has helped revive the Lib Dems. It comes as new polling seen by the Observer suggests Vince Cable’s party is running in first place in London and could even beat Labour overall.

One senior party figure warned: “If the consequence of Labour’s Brexit position and this European election is to essentially detoxify the Lib Dems, then that’s a real problem.” Clive Lewis, a shadow Treasury minister, said “lifelong Labour voters” would not back the party this week due to its Brexit stance. He added: “It feels like we’ve given [the Lib Dems] the political equivalent of resuscitation.”

The fears came as it emerged that: • London mayor Sadiq Khan has pledged that he will campaign for Remain “day and night” in any second referendum, as he urged voters, in an article for the Observer, to back Labour to stop a Farage victory. • Theresa May is planning to make one last “bold offer” to MPs in a desperate attempt to secure support for her Brexit deal, including changes demanded by Labour, Democratic Unionist and Tory MPs and a new round of indicative votes. • Labour MPs revealed they were already drawing up attempts to stop a no-deal Brexit should a hardline Brexiter replace May as prime minister, with some suggesting that revoking Brexit had to be a fall-back option.

An Opinium poll for the Observer found that the Liberal Democrats have narrowly overtaken Labour as the favourite party of remain voters, with 29% of the group now backing Cable’s party and 28% backing Labour.

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Not the plane, the simulator. Nobody has one, and won’t before Christmas. But they intend to fly the planes by August.

Boeing Acknowledges Flaw In 737 MAX Simulator Software (AFP)

Boeing acknowledged Saturday it had to correct flaws in its 737 MAX flight simulator software used to train pilots, after two deadly crashes involving the aircraft that killed 346 people. “Boeing has made corrections to the 737 MAX simulator software and has provided additional information to device operators to ensure that the simulator experience is representative across different flight conditions,” it said in a statement. The company did not indicate when it first became aware of the problem, and whether it informed regulators. Its statement marked the first time Boeing acknowledged there was a design flaw in software linked to the 737 MAX, whose MCAS anti-stall software has been blamed in large part for the Ethiopian Airlines tragedy.

According to Boeing, the flight simulator software was incapable of reproducing certain flight conditions similar to those at the time of the Ethiopian Airlines crash in March or the Lion Air crash in October. The company said the latest “changes will improve the simulation of force loads on the manual trim wheel,” a rarely used manual wheel to control the plane’s angle. “Boeing is working closely with the device manufacturers and regulators on these changes and improvements, and to ensure that customer training is not disrupted,” it added. Southwest Airlines, a major 737 MAX customer with 34 of the aircraft in its fleet, told AFP it expected to receive the first simulator “late this year.”

American Airlines, which has 24 of the aircraft, said it had ordered a 737 MAX simulator that will be delivered and put into operation in December. Only Air Canada has a MAX simulator, industry sources told AFP. Currently, there is only one flight simulator specific to the 737 MAX in the United States, and it is owned by Boeing, according to FAA documentation. US airlines train their pilots flying the MAX on a simulator built for the 737 NG, the version preceding the 737 MAX in the 737 aircraft family. [..] US airlines have targeted August as the date they expect to resume flying on the 737 MAX.

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Every single week the press cites the government saying numbers are down. Not credible. And Macron still suffers from foot in mouth disease: “democracy is not played out on Saturday afternoons “

Democracy plays out everywhere and all the time.

France’s ‘Yellow Vests’ Mark Six Months Of Protests (AFP)

“Yellow vest” protesters turned out across France Saturday to mark six months of rallies against President Emmanuel Macron’s policies, but with their numbers dwindling, according to a government tally. A day after Macron appeared to draw a line under the movement, yellow jacket activists – named after the fluorescent vests they wear – marched in Paris and several other cities for the 27th consecutive week. The count from the interior ministry – routinely dismissed by yellow jackets – put the numbers across France at 15,500, of whom 1,600 marched in Paris. That was down again from last week’s count of 18,600, suggesting a steady decline. The yellow jackets’ own tally put the nationwide total at 41,000.


The numbers were nevertheless certainly down from the massive turn-out at the beginning of the movement, when nearly 300,000 people protested across the country on November 17 in what became one of the biggest challenges to Macron’s government. But many of those who turned out on Saturday were determined to keep going. “When I hear Macron say that he has done his bit, I can’t agree, and that motivates me even more,” said Virginie, an executive secretary marching in the southern city of Montpellier. On Friday, Macron said he felt he had answered the questions raised by the movement and that there was no more to be done politically. Those who had other ideas about how the country should be governed should run for office themselves, he said. “But democracy is not played out on Saturday afternoons,” he added.

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Free market: “..a fine line between preserving stability and hurting market sentiment..”

Four More Chinese Cities Warned Over Pace Of Home Price Growth (R.)

China’s housing regulator has urged four more cities to prevent their residential property markets from overheating in the latest sign that authorities are not about to relax their grip on the real estate business in order to spur the economy. The cities of Suzhou, Foshan, Dalian and Nanning have been told by the Ministry of Housing and Urban-Rural Development to stabilize land and housing prices as well as market expectations, the official Xinhua news agency reported late on Saturday. Six other cities were warned by the ministry last month to monitor the growth of home prices in their markets, after some cities, including, Foshan quietly started to relax some curbs since December to spur demand.


China’s home property market is a key plank of the economy, influencing tens of related sectors such as construction and financial services. The sector has held up well despite a slowdown in growth in the world’s second-biggest economy, with policymakers walking a fine line between preserving stability and hurting market sentiment. Renewed tensions between China and the United States over trade have also added pressure on Chinese policymakers to keep the domestic economy on a stable footing, while continuing to fend off risks such as housing bubbles. Average new home prices in China’s 70 major cities rose 0.6% in April, unchanged from the pace of growth in March, according to a monthly official survey.

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No coffee.

You’re Not Getting Enough Sleep—And It’s Killing You (Wired)

According to neuroscientist Matthew Walker, I’m doing serious damage to my health—and life—by not sleeping enough. “The decimation of sleep throughout industrialized nations is having a catastrophic impact on our health, our wellness, even the safety and education of our children. It’s a silent sleep loss epidemic. It’s fast becoming one of the greatest challenges we face in the 21st century,” Walker, an expert in sleep at UC Berkeley and author of the best-selling book Why We Sleep, told a rapt TED audience on Thursday.

[..] He ran down all the ways in which sleep deprivation hurts people: it makes you dumber, more forgetful, unable to learn new things, more vulnerable to dementia, more likely to die of a heart attack, less able to fend off sickness with a strong immune system, more likely to get cancer, and it makes your body literally hurt more. Lack of sleep distorts your genes, and increases your risk of death generally, he said. It disrupts the creation of sex hormones like estrogen and testosterone, and leads to premature aging. Apparently, men who only sleep five hours a night have markedly smaller testicles than men who sleep more than seven.

“Sleep loss will leak down into every nook and cranny of your physiology,” he said. “Sleep, unfortunately, is not an optional lifestyle luxury. Sleep is a nonnegotiable biological necessity. It is your life support system.” [..] Everyone is obsessed with sleep. And they know they’re not getting enough—hence the growing demand for sleeping pills, the emergence of sleep tracking devices (Walker wears an Oura Ring to track his), smart beds, Alexa integrations to put you to sleep, and mindfulness sleep apps. Arianna Huffington famously left journalism to found a company devoted to sleep and wellness.

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Apr 242019
 


Giovanni Bellini Pietà 1474

 

Bipolar Markets in the “New Mediocre” (Roubini)
Fed Key Interest Rate Keeps Climbing, That Could Become A Problem (CNBC)
Cut the Price and They Will Come: US New Home Prices At Dec. 2014 Level (WS)
Chinese Banks Are Running Out Of Dollars (ZH)
Hillary Outlines “Roadmap” To Trump Impeachment (ZH)
The Conspiracy Against Trump (Giraldi)
Theresa May Accuses Labour Of Dragging Its Heels In Brexit Talks (Ind.)
Labour Says Theresa May Unwilling To Offer Key Brexit Concessions (G.)
UK MPs Campaign To Have Donald Trump’s State Visit Cancelled (G.)
The Revelations of WikiLeaks: No. 1 (CN)

 

 

Who will be the first in the world of finance to understand what’s going on AND be honest about it? It won’t be Roubini. Nothing has anything to do with recession or trade risks anymore. It’s the Fed and the Fed only. And there are no investors as long as the Fed monopolizes what were once markets. These so-called investors are in reality a bunch of rich socialists waiting for a central bank to hand them money. They’ll also be the first to warn about the dangers of socialism.

Bipolar Markets in the “New Mediocre” (Roubini)

Financial markets tend to undergo manic-depressive cycles, and this has been especially true in recent years. During risk-ons, investors – driven by “animal spirits” – produce bull markets, frothiness, and sometimes outright bubbles; eventually, however, they overreact to some negative shock by becoming too pessimistic, shedding risk, and forcing a correction or bear market. Whereas prices of US and global equities rose sharply throughout 2017, markets began to wobble in 2018, and became fully depressed in the last quarter of the year. This risk-off reflected concerns about a global recession, Sino-American trade tensions, and the Federal Reserve’s signals that it would continue to raise interest rates and pursue quantitative tightening.

But since this past January, markets have rallied, so much so that some senior asset managers now foresee a market “melt-up” (the opposite of a meltdown), with equities continuing to rise sharply above their current elevated levels. One could argue that this latest risk-on cycle will continue for the rest of the year. For starters, growth is stabilizing in China, owing to another round of macroeconomic stimulus there, easing fears of a hard landing. And the United States and China may soon reach a deal to prevent the ongoing trade war from escalating further.

At the same time, US and global growth are expected to strengthen somewhat in the second half of the year, and the disruption of a “hard Brexit” has been averted, with the European Union extending the deadline for the United Kingdom’s departure to October 31, 2019. As for the eurozone’s prospects, much will depend on Germany, where growth could rebound as global headwinds fade. Moreover, central banks, particularly the Fed, have become super-dovish again, and this appears to have reversed the tightening of financial conditions that produced the risk-off in late 2018.

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They are well on their way towards blowing up the entire US economy. Just like their counterparts in Japan, Europe, China. Will Russia be the last one standing?

Fed Key Interest Rate Keeps Climbing, That Could Become A Problem (CNBC)

The Federal Reserve’s benchmark interest rate has inched up to its highest level in 11 years even though the central bank has sent a clear message that it is done tightening policy indefinitely. In recent days, the effective fed funds rate, which targets the overnight level that banks charge each other for loans, has moved up to 2.44%. That’s the highest since March 2008 and is just 6 basis points from the top of the target range and the closest to the top since December, when the Fed last raised rates. For now, the move is looked on as not being especially problematic given that there is still room between the current level and the top of the 2.25% to 2.5% range in which the rate is supposed to trade.


But moves toward the upper end of the band have prompted action before, and the trend likely will be a topic of discussion at next week’s Federal Open Market Committee meeting. When the Fed first began raising rates in December 2015, it succeeded in keeping the funds rate around the midpoint of the target range. But that has changed over the past year. “At 6 basis points from the top of the range, you’re still within the target. The question becomes whether they think technical pressure is driving this,” said Lou Crandall, chief economist at Wrightson ICAP and formerly of the New York Fed. “The only concern is whether you’ll have to make a technical adjustment in the future from preventing it from going higher.”

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Fed to the rescue! Actually, as long as banks write new loans, the Fed can and will hold back.

Cut the Price and They Will Come: US New Home Prices At Dec. 2014 Level (WS)

Home builders, the ultimate pros in the housing market, have figured out something after the malaise in the second half last year: Cut prices and buyers will come. The median selling price of new houses dropped 9.7% in March from March last year to $302,700, the Commerce Department reported this morning. This took the price back to about where it had first been in December 2014 ($301,500):

Homebuilders are motivated to move their speculative inventory. They’re making deals at lower prices, and they’re building homes at lower price points. And buyers responded. House sales at the lower end gained market share while houses at the higher end lost market share. Houses that were sold below $200,000 made up 16% of the mix in March, up from 11% in March 2018. Houses that were sold at prices of $400,000 or higher in March made up 29% of the mix, down from 32% in March 2018. This shift in the market, and the price cuts by homebuilders, has pushed the median new house price down 11.8% from the peak in December 2017. The year-over-year price drops starting in November last year were the sharpest such drops since Housing Bust 1:

The new-house sales data, produced jointly by the Census Bureau and the Department of Housing and Urban Development, is volatile. It is revised in the following months, often quite drastically. But after a while, the trends become clear. For the long-term view: The median price of new houses ballooned by about 55% from the range in 2011 and 2012 to the peak in December 2017 ($343,300). This peak had exceeded by 31% the crazy peak of Housing Bubble 1 in March 2007. When it comes to price, the sky is not the limit:

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Give ’em a swap line.

Chinese Banks Are Running Out Of Dollars (ZH)

Following the biggest quarterly credit injection in Chinese history, it is safe to say that China’s banks are flush with yuan loans. However, when it comes to dollar-denominated assets, it’s a different story entirely. As the WSJ points out, in the past few years, a funding problem has emerged for China’s biggest commercial banks, one which is largely outside of Beijing’s control: they’re running low on US dollars so critical to fund operations both domestically and abroad. As shown in the chart below, the combined dollar liabilities at China’s four biggest commercial banks exceeded their dollar assets at the end of 2018, a sharp reversal from just a few years ago.

Back in 2013, the four together had around $125 billion more dollar assets than liabilities, but now they owe more dollars to creditors and customers than are owed to them. The reversal is the result of just one bank: Bank of China, which for many years held more net assets in dollars than any other Chinese lender, ended 2018 owing $72 billion more in dollar liabilities than it booked in dollar assets. The other “top 3” lenders finished the year with more dollar assets than liabilities, even though their net dollar surplus has shrunk substantially in the past five years.

And yet, as everything else with China, there is more than meets the eye: as the WSJ reports looking at Bank of China’s annual report, the bank’s asset-liability imbalance is more than addressed by dollar funding that doesn’t sit on its balance sheet. Instruments like currency swaps and forwards are accounted for elsewhere. This is reminiscent of the shady operations discussed recently involving Turkey’s FX reserves, where the central bank has been borrowing dollar assets from local banks via off balance sheet swaps, which it then used to prop up and boost the lira at a time of aggressive selling of the local currency. It is safe to assume that the PBOC has been engaging in a similar operation.

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Hmmm. Hillary says: “You don’t put impeachment on the table as the only item on the table and say you’re going to get there no matter what.

But as I said yesterday, that is precisely what Nadler appears to do: “I do think, if proven – which hasn’t been proven yet – if proven, some of this would be impeachable, yes,” Nadler said..”

At best awfully close.

Hillary Outlines “Roadmap” To Trump Impeachment (ZH)

Just hours after Nancy Pelosi attempted to mend the gaping division between the realists and the extremists in her party, failed presidential candidate Hillary Clinton decided to pile into the impeachment debate with her own take on the Mueller Report. “Well, I think what Nancy means, and I agree with what she means, is that it shouldn’t be a preordained conclusion, it shouldn’t be what you do for partisan, political purposes almost outside the framework of the Constitution,” she said during an appearance at the Time 100 Summit in New York. “You don’t put impeachment on the table as the only item on the table and say you’re going to get there no matter what, which is what happened in ’99. Instead, you say we are going to proceed with the seriousness that this demands.”

Dripping with irony, Clinton – whose husband was impeached by the House of Representatives in 1998 for perjury and obstruction of justice (only to be acquitted the following year by the Senate), and allegedly used her position to gain personal wealth through pay-to-play peddling of her and her husband’s influence – discuss the roadmap to President Trump’s impeachment and said he should have been indicted. “I have a kind of weird personal history about impeachment,” Clinton said to laughter from the audience. But, “not what you’re thinking,” she added, referring to her time as a staff attorney serving on the impeachment inquiry for former President Richard Nixon two decades earlier in 1974.

“I was one of the young lawyers who actually drafted the memo about what is a high crime and misdemeanor, and it was truly meant by our founders to describe actions that undermine the integrity of our government that placed the personal or political interest in a president over the interest of the nation,” she said.

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It makes no difference where you stand on the issue(s), this is what you will have to deal with going forward. First off, the Horowitz report next month: “he intends to make criminal referrals as a result of his investigation.”

The Conspiracy Against Trump (Giraldi)

Whether the Mueller report is definitive very much depends on the people they chose to interview and the questions they chose to ask, which is something that will no doubt be discussed for the next year if not longer. Beyond declaring that the Trump team did not collude with Russia, it cast little light on the possible Deep State role in attempting to vilify Trump and his associates. The investigation of that aspect of the 2016 campaign and the possible prosecutions of former senior government officials that might be a consequence of the investigation will likely be entertaining conspiracy theorists well into 2020. Since Russiagate has already been used and discarded the new inquiry might well be dubbed Trumpgate.

The media has scarcely reported how Michael Horowitz, the Inspector General of the Department of Justice (DOJ), has been looking into the activities of the principal promoters of the Russiagate fraud. Horowitz, whose report is expected in about a month, has already revealed that he intends to make criminal referrals as a result of his investigation. While the report will only cover malfeasance in the Department of Justice, which includes the FBI, the names of intelligence officers involved will no doubt also surface. It is expected that there will be charges leading to many prosecutions and one can hope for jail time for those individuals who corruptly betrayed their oath to the United States Constitution to pursue a political vendetta.

A review of what is already known about the plot against Trump is revealing and no doubt much more will be learned if and when investigators go through emails and phone records. The first phase of the illegal investigation of the Trump associates involved initiating wiretaps without any probable cause. This eventually involved six government intelligence and law enforcement agencies that formed a de facto task force headed by the CIA’s Director John Brennan. Also reportedly involved were the FBI’s James Comey, Director of National Intelligence James Clapper, Attorney General Loretta Lynch, Department of Homeland Security Director Jeh Johnson, and Admiral Michael Rogers who headed the National Security Agency.

Brennan was the key to the operation because the Foreign Intelligence Surveillance Act (FISA) court refused to approve several requests by the FBI to initiate taps on Trump associates and Trump Tower as there was no probable cause to do so but the British and other European intelligence services were legally able to intercept communications linked to American sources. Brennan was able to use his connections with those foreign intelligence agencies, primarily the British GCHQ, to make it look like the concerns about Trump were coming from friendly and allied countries and therefore had to be responded to as part of routine intelligence sharing. As a result, Paul Manafort, Carter Page, Donald Trump Jr., Jared Kushner and Gen. Michael Flynn were all wiretapped. And likely there were others. This all happened during the primaries and after Trump became the GOP nominee.

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I don’t see any common ground here that could lead to a solution. The country’s split right down the middle.

Theresa May Accuses Labour Of Dragging Its Heels In Brexit Talks (Ind.)

Theresa May has accused Labour of dragging its heels in the bid to find a cross-party compromise to deliver Brexit, even before the talks resumed after Easter. “The discussions with Labour have been serious but had also been difficult in some areas, such as in relation to the timetable for the negotiations,” the prime minister told her cabinet. No 10 fears Jeremy Corbyn does not share Ms May’s desire to avoid next month’s European parliament elections – which would require an agreement within days. The criticism is striking because it is the first time the government has turned on Labour since approaching the opposition three weeks ago.


Until now, it has been Mr Corbyn’s party that has blamed the prime minister for the lack of progress, accusing her of refusing to shift on her red lines – in particular, membership of a customs union. The cabinet discussion took place even before the talks resumed on Tuesday afternoon – but after a failure to hold any meaningful negotiations last week. Ms May’s spokesman told journalists: “The PM said the discussions with Labour had been serious, but had also been difficult in some areas, such as in relation to the timetable for the negotiations. “The PM said that the government’s position was that progress needed to be made urgently as it was vital to deliver on the result of the referendum and for the UK to leave the European Union as soon as possible.”

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They knew that before agreeing to the talks.

Labour Says Theresa May Unwilling To Offer Key Brexit Concessions (G.)

Labour has accused Theresa May of failing to offer any substantive changes to her Brexit deal in cross-party talks, as Downing Street’s hopes of a breakthrough in time to avoid taking part in European parliamentary elections waned. Brexit talks resumed on Tuesday between a team of ministers and shadow ministers. But Labour sources said the government team again appeared unwilling to countenance changes to the political declaration, which sets out the UK’s future relationship with the EU. Instead, ministers offered alternative ways of giving reassurance about the issues Labour has raised, such as on environmental standards and workers’ rights, including through redrafting the withdrawal act implementation bill (WAB) and tweaking separate planned government bills.


Downing Street continues to insist that it hopes to secure parliamentary ratification of a Brexit deal in time to avoid the UK having to participate in next month’s European parliament elections. The government has been considering tabling the WAB as a way of breaking the Brexit deadlock, but Labour has rejected the idea. “There’s a sequence; you have got to start with a different deal,” said a source. After the talks, Jeremy Corbyn blamed the government’s refusal to compromise on central issues such as membership of a customs union for the failure to make significant progress. “We’ll continue putting our case but quite honestly there’s got to be change in the government’s approach. They cannot keep on just regurgitating what has already been emphatically rejected three times by parliament, there’s got to be a change,” Corbyn said.

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They should get Theresa May and Boris Johnson cancelled. Hypocrites.

UK MPs Campaign To Have Donald Trump’s State Visit Cancelled (G.)

Theresa May has been criticised for allowing Donald Trump to make a state visit in June for D-day commemorations, with MPs orchestrating a campaign to stop the US president addressing parliament. Labour said it “beggars belief” that the government is offering the red-carpet treatment to Trump given his attacks on British and American values. Backbenchers began gathering signatures for a petition aiming to force the cancellation of the trip. The three-day trip starting on 3 June was confirmed by Buckingham Palace and the White House on Tuesday. The initial invitation was extended soon after Trump took office but a planned state visit in 2018, with all its pomp and ceremony, was downgraded to an official visit amid security concerns.


This time, Trump is likely to dine with the Queen, attend discussions with May in Downing Street and join an event in Portsmouth to mark the D-day landings. No 10 said the D-day event would be “one of the greatest British military spectacles in recent history” and would include a flypast of 26 types of RAF aircraft and at least 11 Royal Navy ships in the Solent. May said the visit would emphasise that the UK and US “have a deep and enduring partnership that is rooted in our common history and shared interests”. “We do more together than any two nations in the world and we are both safer and more prosperous because of our cooperation,” May said. “The state visit is an opportunity to strengthen our already close relationship in areas such as trade, investment, security and defence, and to discuss how we can build on these ties in the years ahead.”

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Promises to be a good series. But who will pay attention?

The Revelations of WikiLeaks: No. 1 (CN)

WikiLeaks was founded in 2006, but it was the April 5, 2010, publication of “Collateral Murder” that made the whistleblower-publisher a world-wide phenomenon, attracting admirers and enemies. WikiLeaks wrote of the film: “The video, shot from an Apache helicopter gun-sight, clearly shows the unprovoked slaying of a wounded Reuters employee and his rescuers. Two young children involved in the rescue were also seriously wounded.” WikiLeaks noted that Reuters had unsuccessfully attempted to gain access to the video through the Freedom of Information Act in the years after the strike. The day after the release of the footage, The New York Times described WikiLeaks as a once-fringe website that had moved into the big time.

“The site has become a thorn in the side of authorities in the United States and abroad,” it said. “With the Iraq attack video, the clearinghouse for sensitive documents is edging closer toward a form of investigative journalism and to advocacy.” Before 2010 WikiLeaks received a few high-profile journalism awards. But in the years since the publication of the video, it has received a slew of honors, including The Sam Adams Award for Integrity. On April 16, WikiLeaks announced a fresh award for its founder, Julian Assange, even as he remains isolated in a London prison. “Collateral Murder” was one of the most prominent releases sourced from then-Army intelligence analyst Chelsea Manning, who served seven years in a military prison as a result.

Manning, who had access to the video, having a Top Secret clearance, first offered the video to The New York Times and The Washington Post, which both turned her down. Manning then turned to WikiLeaks. Manning described the events that led up to her decision to submit the footage to the press in leaked audio of her testimony during her 2013 court-martial. She said Reuters’ inability to get the footage via a freedom-of-information request contributed to her decision to leak it. “The most alarming aspect of the video for me, was the seemingly delight of bloodlust they [the pilots] appeared to have. They dehumanized the individuals they were engaging with, and seemed to not value human life in referring to them as ‘dead bastards,’ and congratulating each other on the ability to kill in large numbers.”

Marjorie Cohn, a legal analyst, is one of those who has described the contents of the footage as evidence of U.S. war crimes. As such she argues that Manning was legally obligated to expose such information. In a 2013 column for Truthout, she cites the Geneva Conventions, the Army Field Manual and the Uniform Code of Military Justice as all setting forth the duty of a service member to disobey unlawful orders. None of the pilots, military officials nor policy-makers have ever been charged or otherwise held responsible for the events shown in the video.

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Apr 232019
 


Eugène Delacroix Pietà 1837

 

Donald Trump Plans State Visit To UK In June (G.)
House Democrats Subpoena Ex-White House Counsel (G.)
The Nervous Here and Now (Kunstler)
Chelsea Manning To Stay In Jail After Federal Court Rejects Appeal (RT)
The Trump Administration’s Iran Policy Will Hasten Imperial Decline (Krieger)
When the Non-Rational Trumps the Rational (Crooke)
Lower Mortgage Rates No Relief for US Home Sales (WS)
Greece Will Demand Germany Pay $337 Billion For Nazi Occupation (SCMP)
Electric Vehicles Account For More CO2 Emissions Than Diesel Ones (BT)
‘Catastrophic’ Decline Threatening The Earth (NZH)

 

 

Excuse me, but do those protesting this not see many of their own MPs are at least as bad?

Bercow: “..our opposition to racism and to sexism and our support for equality before the law..” Have you followed May’s career at all, Mr. Speaker? Windrush, Hostile Environment?

Clean your own house first. Until you do, this is just cheap propaganda.

Donald Trump Plans State Visit To UK In June (G.)

Donald Trump’s postponed state visit to the UK is due to take place in June, it will be confirmed on Tuesday, prompting renewed calls for protests against the trip. Buckingham Palace is due to announce the visit will be timed to coincide with the 75th anniversary of the D-day landings on 6 June, the Guardian understands. The move has renewed controversy over Theresa May’s decision to invite Trump for a full state visit when she met the president shortly after he took office. State visits are formal trip for heads of state involving considerable ceremony and time with the Queen. The invitation was extended by May when she became the first overseas leader to visit Trump in the White House after his inauguration.


When Trump travelled to the UK on an official but non-state visit in July 2018, tens of thousands of people took to the streets to protest and a four-metre-high orange Trump baby blimp was floated above Parliament Square. The policing operation for the visit cost an estimated £18m. The prospect of Trump being granted the honour of a carriage ride down the Mall appalls many MPs. It is unusual for a state visit to be announced at such short notice, and details of the visit have yet to be finalised with fewer than six weeks to go. It is unclear if Trump will be be invited, or allowed, to address to both houses of parliament. In February 2017, the Speaker John Bercow, said Trump should not be allowed to speak to parliament. He said: “I feel very strongly that our opposition to racism and to sexism and our support for equality before the law and an independent judiciary are hugely important considerations in the House of Commons.”

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I think we call this the Completion Backward Principle. First talk impeachment, then try and find evidence.

“I do think, if proven – which hasn’t been proven yet – if proven, some of this would be impeachable, yes,” Nadler said..”

House Democrats Subpoena Ex-White House Counsel (G.)

The Democratic chairman of the House judiciary committee has issued a subpoena ordering that the former White House counsel Don McGahn testify before Congress. The move came as the House speaker, Nancy Pelosi, vowed to hold Donald Trump to account following the release of Robert Mueller’s report on Russian influence on the 2016 US election. The subpoena, issued on Monday, escalates the congressional investigations into Trump, his finances and accusations that he sought to obstruct justice, as Democrats debate how to proceed with the evidence contained in the special counsel’s 448-page report. McGahn cooperated extensively in the special counsel’s investigation and emerged as a key witness in several incidents at the heart of whether Trump obstructed justice.

“The special counsel’s report, even in redacted form, outlines substantial evidence that President Trump engaged in obstruction and other abuses,” said Jerry Nadler, the chairman of the House judiciary committee, which has the power to launch impeachment proceedings. [..] This is the second subpoena issued by Nadler since the release of the report: on Friday he demanded that the justice department turn over an unredacted version of the report as well as the underlying evidence by 1 May, when the attorney general, William Barr, is due to testify before Congress. Nadler, a New York Democrat, has also invited Mueller to testify before his committee next month. Republican congressman Doug Collins, the ranking member of the House judiciary committee, called the subpoenas “premature” and criticized Democrats for seeking delicate information that the justice department believes should remain confidential.

“Instead of looking at material that Attorney General Barr has already made available, Democrats prefer to demand more documents they know are subject to constitutional and common-law privileges and can’t be produced,” he said. Barr offered to brief a select, bipartisan group of lawmakers on a version of the report that was less redacted than the copy made public. Democrats refused the offer arguing that Congress is entitled to the full, unredacted report. Trump has maintained that the report represents a “total exoneration” and has insisted repeatedly that there are no grounds for impeachment. After the subpoena was issued, he tweeted: “PRESIDENTIAL HARASSMENT.”

This weekend, senior Democrats blanketed TV talkshows and refused to rule out impeachment. However, they remained firm that there was more to investigate before making a final determination. “I do think, if proven – which hasn’t been proven yet – if proven, some of this would be impeachable, yes,” Nadler said NBC’s Meet the Press on Sunday. “Obstruction of justice, if proven, would be impeachable.” [..] Nancy Pelosi cautioned Democrats against hastily moving toward impeachment, making clear that their immediate focus would be on investigating the president and that those inquiries would guide their actions. “This isn’t about Democrats or Republicans,” Pelosi told her colleagues, according to multiple officials on the call. “It’s about saving our democracy.”

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“These internal problems of the USA point in the direction of states and whole regions stealthily seceding from a federal system that can’t run itself competently at scale anymore.”

The Nervous Here and Now (Kunstler)

Before we get to Medicare-for-all, I’d like to see congress pass one simple law requiring all medical service “providers” in the land to publicly post the price of all their services, from the cost of heart transplants down to those $90 Tylenols they dispense. Let’s see how that affects the lawless hocus-pocus of insurance companies “negotiating” their payments with the medical corporatocracy before we go whole-hog for a nationalized health service. The colleges have already destroyed themselves intellectually, and thereby the value of their overpriced credentialing services. The smaller colleges are already folding, and many more will follow now until higher education becomes a boutique industry.

The pension funds are truly big, ominous bombs, because when they fail, they will set up unresolvable fiscal problems that will turn ugly and political. Even if the federal government attempts some kind of “one-time” bail-out, it will not solve the embedded Ponzi problem of a system that has to pay off an ever-expanding pool of claims with an ever-diminishing stream of revenue. It will only be another swipe of the blade cutting off the legs of the US dollar so that it in end every pensioner will receive his-or-her promised payout in dollars that are increasingly worthless. We may even discover that the opioid epidemic has been the only thing keeping the immiserated denizens of Flyover-land from resorting to violent insurrection.

These internal problems of the USA point in the direction of states and whole regions stealthily seceding from a federal system that can’t run itself competently at scale anymore. The process has already begun in such acts of defiance as “sanctuary states” and the burgeoning marijuana industry. Unlike the calamity of 1861, though, there may be no way to even attempt to hold the old Union together, even by force. Instead, as is the case with all foundering empires, the end will be a sickening slide into a new and strange disposition of things. One of the last successful acts of the American empire may be to send the RussiaGate instigators to jail.

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Evil empire. Meanwhile, Assange has been in max security prison for 2 weeks with no access to anyone, including his lawyers. For violating his bail?!

Your governments have set out to break your brightest and bravest. Where are you?

Chelsea Manning To Stay In Jail After Federal Court Rejects Appeal (RT)

A federal appeals court has struck down whistleblower Chelsea Manning’s bid to be released from jail, where she has been held indefinitely after refusing to testify to a grand jury probe into WikiLeaks. Judges from the 4th US Circuit Court of Appeals reaffirmed the charges against Manning on Monday and denied her request to be released. “The court finds no error in the district court’s rulings and affirms its finding of civil contempt,” the court said in its decision. “The court also denies appellant’s motion for release on bail.” Manning is likely to pursue further appeals. Manning was arrested in March when she refused to provide grand jury testimony related to her disclosures of classified material in 2010 and her interactions with WikiLeaks founder Julian Assange.


She is to be held for the duration of the grand jury, or until she agrees to answer prosecutors’ questions. She has been in jail for 45 days. Assange was arrested in London on April 11, after spending nearly seven years in Ecuador’s embassy there. The court hearing on his extradition to the US is scheduled for May 2. Manning’s lawyers argue her rights were violated by the grand jury proceedings, and that federal prosecutors used a subpoena to “entrap” her. The lawyers added that Manning had already given authorities all the information she had during her previous court-martial investigation, and that her confinement is needlessly cruel, as the jail cannot provide proper medical care.

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An empire in decline always emphasizes loudest that it’s an empire. At its heyday, it doesn’t have to; it’s understood.

“The U.S. is telling China, the second largest economy in the world and home to over one billion people, that it lacks the sovereign authority to buy oil from Iran if it so desires.”

The Trump Administration’s Iran Policy Will Hasten Imperial Decline (Krieger)

A primary focus of my writing of late centers around the idea that the policies of the Trump administration, and the neocons in control of it, will hasten the decline of U.S. imperial power and more rapidly usher in a multi-polar (and possibly bifurcated) world. Today’s news regarding the elimination of waivers on Iranian oil imports provides another perfect example. Specifically, Secretary of State Mike Pompeo announced earlier today that waivers which allowed eight countries to import Iranian crude oil without being subject to U.S. sanctions would expire on May 2 without extension. The eight countries included are China, India, Turkey, South Korea, Japan, Greece, Italy and Taiwan.

This move is an extraordinarily foolish and reckless act which illustrates the extreme hubris and short-sightedness of those running American foreign policy under Trump. What the U.S. is decreeing to the entire world with this action is that the U.S., and the U.S. alone, decides who gets to trade with who. The U.S. is telling China, the second largest economy in the world and home to over one billion people, that it lacks the sovereign authority to buy oil from Iran if it so desires. If the U.S. can unilaterally play boss on the trade decisions of foreign countries, national sovereignty does not exist in practice anywhere on the planet. There is only empire.

As such, this goes beyond aggressive foreign policy. It’s more or less an assertion by the Trump administration that the world is in fact a global dictatorship run by a single nation (empire) that has granted itself the authority to arbitrarily decide which countries get to participate in global trade, and which ones do not. Now that the true nature of U.S. power is so completely out in the open, countries will have to decide to either bend the knee or resist, which seems to be the point. What do you think China’s going to do?

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Religious extremism in a declining empire. Read your history.

When the Non-Rational Trumps the Rational (Crooke)

Professor of Religious Studies, Andrew Chesnut tells us that Christian Zionism has become the “majority theology” among white US Evangelicals. In a 2015 poll, 73% of evangelical Christians said events in Israel are prophesied in the Book of Revelation. For Christian Zionists, achieving a ‘Greater Israel’ is one of the key preconditions for ‘Rapture’. It is a belief, known as pre-millennial dispensationalism or Christian Zionism, Chesnut says. “Trump himself embodies the very opposite of a pious Christian ideal. Trump is not a churchgoer. He is profane, twice divorced, who has boasted of sexually assaulting women. But white evangelicals have embraced him, writes Julian Borger.

“Some leading evangelicals see Trump as a latter-day King Cyrus, the sixth-century BC Persian emperor who liberated the Jews from Babylonian captivity. The comparison is made explicitly in The Trump Prophecy, a religious film screened in 1,200 cinemas [last year], depicting a retired firefighter who claims to have heard God’s voice, saying: “I’ve chosen this man, Donald Trump, for such a time as this … “Cyrus is the model for a nonbeliever, being appointed by God as a vessel for the purposes of the faithful,” said Katherine Stewart, who writes extensively about the Christian right. She added that they welcome [Trump’s] readiness to break democratic norms, to combat perceived threats to their values and way of life.

Mike Pompeo and Vice-President Pence are strongly of this Evangelical orientation. It is something that has real import for foreign policy: During his tenure as CIA director, and before that as a member of the House of Representatives, Pompeo has consistently used language that casts the war on terrorism as a cosmic, divine battle of good and evil. He has referred to Islamic terrorists as destined to “continue to press against us until we make sure that we pray, and stand and fight, and make sure that we know that Jesus Christ is our savior, and is truly the only solution for our world”. The proscription of Iran’s IRGC, by Pompeo was couched in exactly this language of terrorism, with the clear connotation that Iran is the cosmic ‘evil’. This style of Apocalyptic or Rapture language has been adopted wholesale by Trump, and his Administration.

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The Fed should have stayed away from -mortgage- rates. It has now guaranteed uncontrolled demolition.

Lower Mortgage Rates No Relief for US Home Sales (WS)

Across the US, hot and cold housing markets all thrown into one bucket: Sales of “existing homes” (single-family houses, townhouses, condos, and co-ops) in March dropped 5.4% from March last year, to a seasonally adjusted annual rate of 5.21 million homes, according to the National Association of Realtors, after having dropped 2.3% year-over-year in February, 8.7% in January, 10.1% in December, and 8.9% in November (data via YCharts):

“The impact of lower mortgage rates has not yet been fully realized,” the NAR report said, as the drop in sales volume is occurring despite the fact that mortgage rates had fallen sharply from the November highs. “According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 4.27% in March from 4.37% in February,” the report said. The average Freddie Mac 30-year fixed rate bottomed out in the reporting week ended March 28 at 4.06%, the lowest since January 2018, and down from 4.94% in November. But it has since risen every week. For the week ending April 18, it ticked up to a still low 4.17%:

[..] “The lower-end market is hot while the upper-end market is not,” according to the NAR report. “The expensive home market will experience challenges due to the curtailment of tax deductions of mortgage interest payments and property taxes.” Alas, in many markets, even the “lower end,” after years of price surges, has become very expensive. So, with all markets across the US thrown into one bucket, the median price in March rose 3.8% from March last year to $259,400. Prices are subject to seasonality, as the chart below shows. Median price means half the homes sold for more, and half sold for less:

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“For matters of this kind there is international justice,” he said. “In all disputes the EU abides by it, on principle. Germany may say it has been resolved but what counts is international law.”

Greece Will Demand Germany Pay $337 Billion For Nazi Occupation (SCMP)

Greece is poised to send Germany a formal diplomatic note detailing its demand for billions of euros in wartime reparations after MPs voted overwhelmingly for the emotive issue to be raised officially. In a move bound to stir sentiment ahead of crucial European parliament elections, Athens vowed to pile pressure on Berlin, taking legal and diplomatic steps that will throw the spotlight on crimes committed during the brutal Nazi occupation. “It is an open issue that must be resolved,” Greece’s deputy foreign minister, Markos Bolaris, told The Guardian, hitting back at German insistence that compensation claims had been conclusively settled.


“For matters of this kind there is international justice,” he said. “In all disputes the EU abides by it, on principle. Germany may say it has been resolved but what counts is international law.” Greeks suffered hugely at the hands of Hitler’s forces, enduring what Germany’s president, Frank-Walter Steinmeier, recently described on a visit to Greece as “unimaginable” horrors. Tens of thousands were killed in reprisals as Greeks mounted what historians would later hail as a heroic resistance against the Wehrmacht [German army], with entire villages being wiped out between 1941 and 1944. By the time the occupation ended, an estimated 300,000 people had died from famine and the country’s Jewish community had been almost entirely obliterated.

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All energy use produces waste. The only way to prevent this is not using the energy.

Electric Vehicles Account For More CO2 Emissions Than Diesel Ones (BT)

Electric vehicles in Germany account for more CO2 emissions than diesel ones, according to a study by German scientists. When CO2 emissions linked to the production of batteries and the German energy mix – in which coal still plays an important role – are taken into consideration, electric vehicles emit 11% to 28% more than their diesel counterparts, according to the study, presented on Wednesday at the Ifo Institute in Munich. Mining and processing the lithium, cobalt and manganese used for batteries consume a great deal of energy. A Tesla Model 3 battery, for example, represents between 11 and 15 tonnes of CO2. Given a lifetime of 10 years and an annual travel distance of 15,000 kilometres, this translates into 73 to 98 grams of CO2 per kilometre, scientists Christoph Buchal, Hans-Dieter Karl and Hans-Werner Sinn noted in their study.


The CO2 given off to produce the electricity that powers such vehicles also needs to be factored in, they say. When all these factors are considered, each Tesla emits 156 to 180 grams of CO2 per kilometre, which is more than a comparable diesel vehicle produced by the German company Mercedes, for example. The German researchers therefore take issue with the fact that European officials view electric vehicles as zero-emission ones. They note further that the EU target of 59 grams of CO2 per km by 2030 corresponds to a “technically unrealistic” consumption of 2.2 litres of diesel or 2.6 litres of gas per 100 kms.

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“Population extinctions, however, are a prelude to species extinctions, so Earth’s sixth mass extinction episode has proceeded further than most assume.”

‘Catastrophic’ Decline Threatening The Earth (NZH)

They’re the things that often bug us the most — quite literally. But with warnings insects could disappear within the century, suddenly the critters we first think to squish have made us think differently. A global scientific review of insect decline has warned insects will “go down the path of extinction” in a few decades, with “catastrophic” repercussions for the planet’s ecosystems. The biodiversity crisis is said to be even deeper than that of climate change, reports news.com.au. Scientists have already warned the earth’s sixth mass extinction event is under way through biological annihilation. “Earth’s sixth mass extinction is more severe than perceived when looking exclusively at species extinctions,” researchers wrote in 2017.


They said decimation needed to be addressed immediately. “Earth’s sixth mass extinction is more severe than perceived when looking exclusively at species extinctions. “Population extinctions, however, are a prelude to species extinctions, so Earth’s sixth mass extinction episode has proceeded further than most assume. “The massive loss of populations is already damaging the services ecosystems provide to civilisation. When considering this frightening assault on the foundations of human civilisation, one must never forget that Earth’s capacity to support life, including human life, has been shaped by life itself.”


Dragonflies are a protective and resilient insect. Photo / Getty Images

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You’re on Earth.

There’s no cure for that.

– Samuel Beckett

 

 

Apr 202019
 


Tintoretto The crucifixion of Christ 1568

 

UK Home Secretary: “Full Force Of The Law” Against Extinction Rebellion (G.)
Warren 1st Democratic Presidential Candidate To Call For Impeachment (CBS)
Admitted Russian Agent Butina Asks US Court To Be Lenient (R.)
Debunking All The Assange Smears (CJ)
An Empire of Bullshit (Jim Kunstler)
China Has Not Wasted A Single Penny On War (NW)
Juncker: There Is Still A Risk Of A Car Crash Brexit Despite Delay (R.)
60 Doctors, Other Medical Workers Charged In Federal Opioid Sting (NPR)
Protecting Marine Life Could Be Key In Fighting Climate Change (DM)
The Blue Ocean Event and Collapsing Ecosystems (Hunziker)
A Climate Reckoning Is Coming To Our Political Hothouse (SMH)
Hundreds Of Thousands Of Bees Survive Notre Dame Fire (G.)
Wild Bee Species Collapse By As Much As 90% In New England (AP)

 

 

Yeah, that’s surely the best answer. Ask the French if you can borrow some rubber bullets.

And I kid you not, this 100% doofus dreams of being the next PM.

His problem here is the police say they can’t do much, because the protest are strictly peaceful. And because people just sit or lie down in strategic spots, it takes 4 cops to remove 1 protester.

UK Home Secretary: “Full Force Of The Law” Against Extinction Rebellion (G.)

Sajid Javid has called on police to use the “full force of the law” against Extinction Rebellion protesters causing disruption in London to draw attention to the issue of climate change. The home secretary, who is positioning himself for a run at the Conservative party leadership, made a series of tweets condemning “any protesters who are stepping outside the boundaries of the law”. He called on the police to “take a firm stance” against protesters who were “significantly disrupting the lives of others”. “Over recent days, commuters trying to earn a living have been unable to travel to work and businesses have been disrupted,” he said, following a meeting with Met police chiefs.


“Emergency vehicles have faced difficulties navigating the road networks and the demonstrations have put added pressure on police officers whose job it is to solve crimes and protect the public. “Let me be clear: I totally condemn any protesters who are stepping outside the boundaries of the law. They have no right to cause misery for the millions of people who are trying to lead their daily lives. Unlawful behaviour will not be tolerated.” Hundreds have been arrested and more than 1,000 officers deployed to police the protests, which entered their fourth day on Thursday. Scotland Yard took the rare step of releasing a detailed statement setting out the difficulties they have faced keeping control of the protests, while avoiding infringing on the activists’ rights to demonstrate.

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It’s hard not to ask what exactly “would inflict great and lasting damage on this country”. My guess would be they shy away from this.

Warren 1st Democratic Presidential Candidate To Call For Impeachment (CBS)

Elizabeth Warren became the first Democratic presidential candidate to call for Congress to begin impeachment proceedings against President Trump Friday afternoon, citing the “severity” of “misconduct” detailed in the report by Special Counsel Robert Mueller. “The severity of this misconduct demands that elected officials in both parties set aside political considerations and do their constitutional duty. That means the House should initiate impeachment proceedings against the President of the United States,” the Massachusetts senator wrote on Twitter. In an earlier tweet, Warren said that the report proved that Russia had interfered in the 2016 election with the goal of helping Mr. Trump, and showed that the president “obstructed the investigation into that attack.”


Mueller did not come to a conclusion as to whether Mr. Trump obstructed justice. Warren cited a segment of the report where Mueller wrote that “Congress has authority to prohibit a President’s corrupt use of his authority in order to protect the integrity of the administration of justice.” “To ignore a President’s repeated efforts to obstruct an investigation into his own disloyal behavior would inflict great and lasting damage on this country, and it would suggest that both the current and future Presidents would be free to abuse their power in similar ways,” Warren wrote on Twitter. [..] Other Democrats in Congress, as well as the party’s 2020 candidates, have avoided saying whether they believe Mr. Trump should be impeached. Many have instead called on Mueller to testify before Congress, and for the release of the full, un-redacted report.

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She’s been in solitary confinement (classified as torture) and ‘confessed’ to infiltrating both the GOP and the NRA at the ripe old age of 22-23.

Butina is being used as a propaganda tool. Like Assange.

Admitted Russian Agent Butina Asks US Court To Be Lenient (R.)

Maria Butina, who has admitted to working as a Russian agent to infiltrate an influential U.S. gun rights group and make inroads with conservative activists and Republicans, asked the court to sentence her to time served ahead of her April 26 sentencing, according to court documents. Butina, 30, a former graduate student at American University who publicly advocated for gun rights, pleaded guilty in December to one count of conspiring to act as a foreign agent for Russia. She has remained in custody since her arrest in July 2018. “Although Maria has committed a serious offense, just punishment does not require additional incarceration,” her attorneys argue in a sentencing memo filed on Friday.

Butina, a Russian citizen, expects to be sent back to her native country after being released from jail, her attorney said. “She has been separated from her family, in a foreign country, for over nine months. She has languished for three of those months in administrative segregation – solitary confinement by another name — where she was enclosed in a small cell for 22 hours a day,” the filing states. Butina has admitted to conspiring with a Russian official and two Americans from 2015 until her arrest to infiltrate the National Rifle Association and create unofficial lines of communication to try to make Washington’s policy toward Moscow more friendly. The NRA is closely aligned with U.S. conservatives and Republican politicians including President Donald Trump.

U.S. District Judge Tanya Chutkan in February delayed sentencing at the request of prosecutors, who said Butina was cooperating in their ongoing investigation. Butina’s attorney, Robert Driscoll, said at the time his client was ready for sentencing. Russia in December accused the United States of forcing Butina to falsely confess to what it described as the “absolutely ridiculous charges” of her being a Russian agent.

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Caitlin wrote an entire book. It’s crazy that this would be necessary. But how likely is it that those who believe the smears will read all of this?

Debunking All The Assange Smears (CJ)

Here’s a numbered list of each subject I’ll be covering in this article for ease of reference:

0. How to argue against Assange smears.

  1. “He’s not a journalist.”
  2. “He’s a rapist.”
  3. “He was hiding from rape charges in the embassy.”
  4. “He’s a Russian agent.”
  5. “He’s being prosecuted for hacking crimes, not journalism.”
  6. “He should just go to America and face the music. If he’s innocent he’s got nothing to fear.”
  7. “Well he jumped bail! Of course the UK had to arrest him.”
  8. “He’s a narcissist/megalomaniac/jerk.”
  9. “He’s a horrible awful monster for reasons X, Y and Z… but I don’t think he should be extradited.”
  10. “Trump is going to rescue him and they’ll work together to end the Deep State. Relax and wait and see.”
  11. “He put poop on the walls. Poop poop poopie.”
  12. “He’s stinky.”
  13. “He was a bad houseguest.”
  14. “He conspired with Don Jr.”
  15. “He only publishes leaks about America.”
  16. “He’s an antisemite.”
  17. “He’s a fascist.”
  18. “He was a Trump supporter.”
  19. “I used to like him until he ruined the 2016 election” / “I used to hate him until he saved the 2016 election.”
  20. “He’s got blood on his hands.”
  21. “He published the details of millions of Turkish women voters.”
  22. “He supported right-wing political parties in Australia.”
  23. “He endangered the lives of gay Saudis.”
  24. “He’s a CIA agent/limited hangout.”
  25. “He mistreated his cat.”
  26. “He’s a pedophile.”
  27. “He lied about Seth Rich.”

Wow! That’s a lot! Looking at that list you can only see two possibilities:

  1. Julian Assange, who published many inconvenient facts about the powerful and provoked the wrath of opaque and unaccountable government agencies, is literally the worst person in the whole entire world, OR
  2. Julian Assange, who published many inconvenient facts about the powerful and provoked the wrath of opaque and unaccountable government agencies, is the target of a massive, deliberate disinformation campaign designed to kill the public’s trust in him.

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“Mr. Mueller himself, even in his majestic granitic silence, will be liable for failing to inform his boss, the Attorney General, that the predicate document for his witch hunt was known to be a fraud back in 2016..”

An Empire of Bullshit (Jim Kunstler)

The Special Prosecutor’s main bit of mischief, of course, was his refusal to reach a conclusion on the obstruction of justice charge. What the media refuses to accept and make clear is that a prosecutor’s failure to reach a conclusion is exactly the same thing as an inability to make a case, and it was a breach of Mr. Mueller’s duty to dishonestly present that failure as anything but that in his report — and possibly an act of criminal prosecutorial misconduct. Like any tantrum, the media’s frenzy will run out of steam (and credibility) and now they will be whipped like dogs for betraying their public trust. There is a counter-narrative to the “Resistance” narrative, and it is a true crime story.

That suppressed story is finally going to roll out in the implacable workings of actual (not fake) justice and it is going to crush a lot of people who concocted this epic political hoax, including some members of the press who knowingly and dishonestly abetted it. Many criminal referrals have already been made on the likes of James Comey, Andrew McCabe, Peter Strzok, Lisa Page, and Bruce Ohr, and a big net has been cast to pull in the figures who have been hiding in the thickets lo these two-and-a-half-years of smoke and gaslight: Loretta Lynch, Sally Yates, John Brennan, James Clapper, Nellie Ohr, Samantha Power, Bill Priestap, Jim Rybicki, James Baker, Mike Kortan, John Carlin, Mary McCord, Josh Campbell and more.

Some of these are going to jail and some have already flipped. The fetchings should reach the Obama White House. Mr. Mueller himself, even in his majestic granitic silence, will be liable for failing to inform his boss, the Attorney General, that the predicate document for his witch hunt was known to be a fraud back in 2016, and was used anyway to spy on a presidential candidate. Let congress put on a carnival of its own now. It will be greeted like a TV commercial for a hemorrhoid remedy while the real national psychodrama plays out in grand juries and courtrooms, demonstrating what a grievous injury was done to this republic by its own vested authorities.

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We can never have enough Jimmy Carter, America’s greatest statesman of the 20th century and another 19 years of the 21st.

China Has Not Wasted A Single Penny On War (NW)

Former President Jimmy Carter told a church congregation this weekend that he had spoken with President Donald Trump about China on Saturday, and said the commander in chief was worried that Beijing had outpaced its global rivals. According to Emma Hurt, a reporter for NPR affiliate WABE, Carter spoke of the call during his regular Sunday School lesson at Maranatha Baptist Church in his hometown of Plains, Georgia. Carter, 94, said Trump was worried that “China is getting ahead of us,” and suggested the president was right to be concerned. He told the congregation that Trump feared China’s growing economic strength. Economic modeling indicated that China would overtake the U.S. as the world’s strongest economy by 2030, and many experts have said that we were already living in what has been dubbed the “Chinese Century.”


Carter said he did not “really fear that time, but it bothers President Trump and I don’t know why. I’m not criticizing him this morning,” he added, to laughs from fellow churchgoers. Carter—who normalized diplomatic relations between Washington and Beijing in 1979—suggested that China’s breakneck growth had been facilitated by sensible investment and buoyed by peace. “Since 1979, do you know how many times China has been at war with anybody?” Carter asked. “None. And we have stayed at war.” The U.S., he noted, has only enjoyed 16 years of peace in its 242-year history, making the country “the most warlike nation in the history of the world,” Carter said. This is, he said, because of America’s tendency to force other nations to “adopt our American principles.”

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See? Car Crash Brexit sounds much better than No-Deal Brexit.

Juncker: There Is Still A Risk Of A Car Crash Brexit Despite Delay (R.)

There is a still a concern that Britain may leave the European Union without a deal to smooth the way, the bloc’s chief executive said on Saturday, urging Britain to take advantage of a six-month delay to work out the details of its departure. European Commission President Jean-Claude Juncker made the comments in an interview with German newspaper FUNKE Mediengruppe, a week after EU leaders gave Britain six months more to exit the EU. “Nobody knows how Brexit will end. This is creating great uncertainty. There is still a fear that there will be a hard Brexit without any withdrawal treaty arrangements,” Juncker said, citing the long-term negative impact on Europe’s economy.


Even though the extension to Oct. 31 offers little clarity on when, how or even if Brexit will happen, Britain should use the time wisely, he said. “I hope that the British will make use of this time and not waste it again. We cannot keep on putting off the withdrawal date indefinitely. The best solution would be for the British to adopt the Withdrawal Agreement during the extra time that has been agreed,” Juncker said. The withdrawal deal negotiated by Prime Minister Theresa May with the EU has been rejected three times by the British parliament. Juncker, who is scheduled to meet U.S. President Donald Trump at the G20 meeting in Osaka in June, predicted a “lively discussion” ahead. “The last discussion lasted 6 hours and it is good that you were not there,” Juncker said, referring to raised voices at his last talks with Trump.

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“The cases involve more than 350,000 prescriptions for controlled substances and more than 32 million pills..”

60 Doctors, Other Medical Workers Charged In Federal Opioid Sting (NPR)

Federal prosecutors are charging 60 doctors, pharmacists, medical professionals and others in connection with alleged opioid pushing and health care fraud, the Justice Department said Wednesday. The charges came less than four months after the Justice Department dispatched experienced fraud prosecutors across hard-hit regions in Appalachia. The cases involve more than 350,000 prescriptions for controlled substances and more than 32 million pills — the equivalent of a dose of opioids for “every man, woman and child,” across Ohio, Kentucky, Tennessee, Alabama and West Virginia, said Assistant Attorney General Brian Benczkowski.


“You can rest assured, when medical professionals behave like drug dealers, the Department of Justice is going to treat them like drug dealers,” added Benczkowski, who runs the DOJ’s criminal division. Those charged include 31 doctors, seven pharmacists, eight nurse practitioners and seven other licensed medical professionals, the Justice Department said. The idea for the department’s Appalachian Regional Prescription Opioid Strike Force was formed last autumn to assist areas suffering from high numbers of opioid overdoses and deaths. Justice Department leaders ultimately approved sending 14 health care fraud prosecutors to several different federal districts to help build cases. They started in January, sifting through data analysis to find the biggest outliers.

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At some point we may figure out that all pieces of the system are interconnected. Probably when it’s too late and the sytem has fallen apart.

Protecting Marine Life Could Be Key In Fighting Climate Change (DM)

As the prospect of catastrophic effects from climate change becomes increasingly likely, a search is on for innovative ways to reduce the risks. One potentially powerful and low-cost strategy is to recognize and protect natural carbon sinks – places and processes that store carbon, keeping it out of Earth’s atmosphere. Forests and wetlands can capture and store large quantities of carbon. These ecosystems are included in climate change adaptation and mitigation strategies that 28 countries have pledged to adopt to fulfill the Paris Climate Agreement. So far, however, no such policy has been created to protect carbon storage in the ocean, which is Earth’s largest carbon sink and a central element of our planet’s climate cycle.


[..]Marine animals can sequester carbon through a range of natural processes that include storing carbon in their bodies, excreting carbon-rich waste products that sink into the deep sea, and fertilizing or protecting marine plants. In particular, scientists are beginning to recognize that vertebrates, such as fish, seabirds and marine mammals, have the potential to help lock away carbon from the atmosphere.


Scientists have identified nine mechanisms through which marine vertebrates play roles in the oceanic carbon cycle

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Blue ocean in the Arctic is not good.

The Blue Ocean Event and Collapsing Ecosystems (Hunziker)

Sometime in the near future it is highly probable that the Arctic will no longer have sea ice, meaning zero ice for the first time in eons, aka: the Blue Ocean Event. Surely, the world is not prepared for the consequences of such an historic event, which likely turns the world topsy-turvy, negatively impacting agriculture with gonzo weather patterns, thus forcing people to either starve or fight. But, the problem may be even bigger than shortages of food, as shall be discussed. Still and all, it’s somewhat consoling to know that the Blue Ocean Event is quite controversial within the scientific community. There are climate scientists that believe Arctic ice will be there beyond this century. One can only hope they are right because an ice-free Arctic will indubitably create havoc for life on the planet.


However, disturbingly, the prospects for enduring sea ice don’t look good. [..] Over the past 40 years the loss of Arctic sea ice has rapidly progressed, e.g., from 1976-87 Arctic sea ice thickness decreased by 15%… during the 1990s, thickness decreased by 43% … and today 75% of the sea ice is gone… resulting in an impairment of sea ice albedo, which reflects solar radiation back into outer space by 80-90% with sea ice, but conversely, without sea ice, it absorbs 80-90% of solar radiation into the dark background of iceless water where crucial untold dangers lurk.

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Two problems: climate and ISIL. Reaction to the first: we’re powerless. The second: let’s spend billions on weapons.

A Climate Reckoning Is Coming To Our Political Hothouse (SMH)

When Tony Abbott was prime minister, he ordered more Australian strike aircraft and troops into Iraq. Not because Australia was big enough to turn the tide of battle against the barbarians of Daesh, so-called Islamic State or ISIL. But because he believed in the fight. m”It’s absolutely vital that the world sees and sees quickly that the ISIL death cult can be beaten,” he said in 2014. Australia’s commitment ultimately made up less than 1 per cent of the combined effort against the terrorist thugs but it was early and firm. Abbott described it as “an important global concern” and he was right. And, with more than 60 countries co-operating, it was a success. When it came to another important global concern, Abbott argued a very different case.


He and like-minded Coalition conservatives have long maintained that Australian action against climate change was futile: “Even if carbon dioxide, a naturally occurring trace gas that’s necessary for life, really is the main climate change villain, Australia’s contribution to mankind’s emissions is scarcely more than 1 per cent,” Abbott said last year. On terrorism, Abbott argued for Australian leadership. On climate change, he argued for wilful helplessness. Australia is a 1 per cent contributor in both cases. In one case, it used its 1 per cent to show leadership and effective action. On the other, it used its 1 per cent as an excuse for inaction. The defining difference, of course, is will. Specifically, political will. Australia is at another decision point on climate change as it heads to the May 18 election.

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It’s a miracle!

Hundreds Of Thousands Of Bees Survive Notre Dame Fire (G.)

Following the tragedy of Monday’s fire at the Notre Dame Cathedral in Paris, news came on Friday of a miracle as sweet as honey. The hundreds of thousands of bees that lived in hives inside Notre Dame’s roof are alive and well, according to the beekeeper, or apiculteur, that oversees them. “Thank goodness the flames didn’t touch them,” Nicolas Géant, the hives’ 51-year-old beekeeper, told CNN. “It’s a miracle.” Three hives that are home to an estimated 60,000 bees each – 180,000 bees in total – are located on a lower roof atop the cathedral’s first floor.


The flames of Monday’s fire – which investigators say was probably caused by an electrical short circuit – took down the cathedral’s spire and a large portion of its roof. For a few days after the fire, Géant was worried about his beloved bees, and the French police and firefighters wouldn’t let him go up on the roof to check on them. Hopes that the bees survived rested on aerial photos of the cathedral’s roof, which showed the hives still intact. “You see that everything is burnt, there are holes in the roof, but you can still see the three beehives,” Géant told NBC News on Wednesday.

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Maybe those Paris bees can move to New Hampshire.

Wild Bee Species Collapse By As Much As 90% In New England (AP)

More than a dozen wild bee species critical to pollinating everything from blueberries to apples in New England are on the decline, according to a new study. Researchers from the University of New Hampshire wanted to understand if the documented declines hitting honeybees and bumblebees were also taking a toll on the lesser studied bee species in New Hampshire. So they examined 119 species in the state from a museum collection at the college dating back 125 years. Writing in the peer-reviewed journal Insect and Conservation Diversity this month, Sandra Rehan and Minna Mathiasson concluded 14 species found across New England were on the decline by as much as 90 percent. Several of them are leafcutter and mining bees, which, unlike honeybees, nest in the ground.

“We know that wild bees are greatly at risk and not doing well worldwide,” Rehan, assistant professor of biological sciences and the senior author on the study, said in a prepared statement. “This status assessment of wild bees shines a light on the exact species in decline, beside the well-documented bumble bees. Because these species are major players in crop pollination, it raises concerns about compromising the production of key crops and the food supply in general.” The study noticed that half of those wild bees on the decline were located in higher elevation regions like the White Mountains than in the state’s coastal areas. The study said as the wild bees shift northward, some of the species don’t have the same kind of flowers and plants to pollinate.

“They have nowhere else to go,” Rehan said. “That is the biggest concern.” Rehan warned as wild bee populations collapse so will crop yields, which could produce food shortages across the country. She says wild bees are facing similar threats that have also caused honeybee populations to plunge – including the overuse of pesticides and herbicides, a lack of seasonal wild plant diversity and volatile weather.

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