Aug 062019
 
 August 6, 2019  Posted by at 8:53 am Finance Tagged with: , , , , , , , , , , , ,  


Piet Mondriaan Avond (Evening): The Red Tree 1908-10

 

Yuan, Futures Surge After PBOC Fix Is Stronger Than Expected (ZH)
China’s Yuan Steadies But Stocks Plunge As Trade Tensions Grow (R.)
Kyle Bass: Yuan Would Collapse 30%-40% If China Stopped Supporting It (CNBC)
US Designates China As Currency Manipulator For First Time In 25 Years (R.)
China State Media Says US ‘Destroying International Order’ (R.)
China Confirms It Is Suspending US Farm Products Purchases (CNBC)
Trump Orders Freeze On All Venezuelan Government Assets In US (AFP)
Hold the Teddy Bears and Candles (Kunstler)
Fourth Turning Economics (Jim Quinn)
Things Fall Apart (Michael Krieger)
Sinn Féin Joins the Great Disruption (Fintan O’Toole)
Nicola Sturgeon: ‘Talking To Theresa May Was Soul Destroying’ (Sky)

 

 

Anything above/below 7.10 is deemed to risky in Beijing. For now.

Yuan, Futures Surge After PBOC Fix Is Stronger Than Expected (ZH)

In the aftermath of the US shockingly designating China a currency manipulator – for the first time in over 25 years – there was a tense period of several hours in which it appeared that all bets were off, and that with both the US and China seemingly going full tilt, China would fix the Yuan not only far weaker than its Monday rate, but also weaker than expected according to an imputation of the country’s currency basket, which was 6.9736, well below the previous fixing of 6.9225, the first fixing below 6.90 in 2019 and the catalyst for the overnight plunge in risk assets. Heck, some even speculated that Beijing may fix the Yuan below 7.00 vs the USD, if not launch a couple of nukes at the US for good measure.

It wasn’t meant to be though: shortly after 9pm EST, the PBOC lifted the kimono so to speak… and the market collectively exhaled when China revealed that while it had indeed fixed the onshore yuan weaker than Monday, it did so stronger relative to both the 7.00 proverbial line in the sand, and which would have been a retaliatory declaration of outright currency war, but also relative to the expected fixing, with the number coming at 6.9683. In kneejerk reaction, a wave of relief washed over the market, sending the offshore Yuan surging, and reversing all prior session losses which had dragged it as low as 7.14 just moments ahead of the fix, to above 7.10 last…

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Presented as a strength, this is instead perhaps China’s biggest weakness: “.. this is something that we control rather than markets or whatever other pressures.”

China’s Yuan Steadies But Stocks Plunge As Trade Tensions Grow (R.)

China’s tumbling yuan steadied on Tuesday as authorities took steps to contain its slide while stocks plunged after Washington labelled Beijing a currency manipulator, marking a sharp escalation in U.S. trade tensions. The currency has slumped 2.3% over the past three days and broken past the symbolic 7-per-dollar level, pounding stocks and pushing bonds higher as investors feared the yuan’s value has become a new front in the U.S.-China trade war. On Monday, U.S. Treasury Secretary Steven Mnuchin said Washington would designate China a currency manipulator, its first such move since 1994, sending both the onshore and offshore yuan to record lows..


The People’s Bank of China’s firmer-than-expected yuan fixing on Tuesday helped pull the currency away from these lows as did an announced bond sale in the offshore market, seen as signs authorities wanted to stem the rout. “(China is) seizing the narrative on the renminbi,” said Andy Wong, multi-asset senior investment manager at Pictet Asset Management in Hong Kong. “Rather than being pressured to signal that 7 is just a psychological level, they are … saying this is something that we control rather than markets or whatever other pressures.”

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“.. they are trying to hold this whole thing together.”

they have to have dollars to sell to buy their own currency to hold it up..”

Kyle Bass: Yuan Would Collapse 30%-40% If China Stopped Supporting It (CNBC)

Hedge fund manager and Hayman Capital Management founder Kyle Bass said on Monday that without state support, China’s currency would plunge. “What’s happening in China is they have to have dollars to sell to buy their own currency to hold it up. If they were to ever free float their currency, I think it would drop 30% or 40%,” Bass told CNBC’s “Closing Bell.” “And the reason is they claim to be 15% of global GDP in dollar terms, but less than 1% of global transactions settled in their own currency,” Bass added. “And so, they prop their currency up…everyone calling them a currency manipulator – they are trying to hold this whole thing together.” Bass’s comments came after the Chinese yuan crossed a closely watched barrier against the U.S. dollar.


The onshore Chinese yuan changed hands above 7 against the dollar, the currency’s weakest levels against the greenback since 2008. The new lows for the yuan came after U.S. President Donald Trump unexpectedly announced fresh tariffs on Beijing last week that are set to take effect from Sept. 1. China on Monday said it could slap tariffs on U.S. agricultural goods that it bought recently, state-run media Xinhua reported. Bass, known across Wall Street for his prescient bets against subprime mortgages during the financial crisis in 2008, is also a noted China bear. The hedge fund manager has previously admonished American corporations for pushing Trump to strike a deal with Beijing too quickly and told CNBC as recently as June that the U.S. has leverage over China and should pressure negotiators into a better settlement.

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Which allows for much higher tariffs.

US Designates China As Currency Manipulator For First Time In 25 Years (R.)

The U.S. government has determined that China is manipulating its currency and will engage with the International Monetary Fund to eliminate unfair competition from Beijing, U.S. Treasury Secretary Steven Mnuchin said in a statement on Monday. The move brings already tense U.S.-Chinese relations to a boil and fulfills U.S. President Donald Trump’s promise to label China a currency manipulator for the first time since 1994. The U.S. action follows China allowing its yuan to weaken past the key 7-per-dollar level on Monday for the first time in more than a decade. Beijing later said it would stop buying U.S. agricultural products, inflaming a yearlong trade war with the United States.

The sharp 1.4% drop in the yuan comes days after U.S. President Donald Trump stunned financial markets by vowing to impose 10% tariffs on the remaining $300 billion of Chinese imports from Sept. 1, abruptly breaking a brief ceasefire in a bruising trade war that has disrupted global supply chains and slowed growth. The news knocked the dollar sharply lower and bolstered the price of gold . The Treasury Department said a statement from the People’s Bank of China (PBOC) on Monday made clear that Chinese authorities had ample control over the yuan exchange rate.

The PBOC said Monday it would “continue to … take necessary and targeted measures against the positive feedback behavior that may occur in the foreign exchange market.” “This is an open acknowledgement by the PBOC that it has extensive experience manipulating its currency and remains prepared to do so on an ongoing basis,” the Treasury statement said. It said China’s actions violate its commitment to refrain from competitive devaluation as part of the Group of 20 industrialized countries. Treasury said it expected China to adhere to those commitments and not target China’s exchange rate for competitive purposes.

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“..Trump’s election campaign pledge was to lift import tariffs to 45% on China.”

China State Media Says US ‘Destroying International Order’ (R.)

China’s official Communist Party newspaper said on Tuesday that the United States was “deliberately destroying international order”, a day after Washington branded Beijing a currency manipulator in a rapidly escalating trade dispute. The accusation, which followed a sharp slide in the yuan on Monday, has driven an even bigger wedge between the world’s largest economies and crushed any lingering hopes for a quick resolution to their year-long trade war. The dispute has already spread beyond tariffs to other areas such as technology, and analysts caution tit-for-tat measures could widen in scope and severity, weighing further on global economic growth.

In a strongly-worded editorial, the People’s Daily said the United States was holding its own citizens to ransom, without mentioning the latest U.S. decision. The responsibility of big countries is to provide the world with stability and certainty while creating conditions and opportunities for the common development of all countries, according to the editorial. “But some people in the United States do just the opposite,” it said. [..] The yuan has tumbled 2.3% in three days since President Donald Trump’s sudden declaration last week that he will impose 10% tariffs on $300 billion of Chinese imports from Sept. 1.

But it appeared to steady on Tuesday amid signs that China’s central bank may be looking to stem the slide, which has sparked fears of a global currency war. “Naming China a currency manipulator could open the door for U.S. tariffs to eventually increase to more than 25% on Chinese goods,” according to a note from DBS Group Research. “Apart from naming China a currency manipulator, Trump’s election campaign pledge was to lift import tariffs to 45% on China.”

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Try to buy from Brazil instead?

China Confirms It Is Suspending US Farm Products Purchases (CNBC)

China confirmed reports that it was pulling out of U.S. agriculture as a weapon in the ongoing trade war. A spokesperson for the Chinese Ministry of Commerce said Chinese companies have stopped purchasing U.S. agricultural products in response to President Trump’s new 10% tariffs on $300 billion of Chinese goods. “This is a serious violation of the meeting between the heads of state of China and the United States,” the Minister of Commerce said in a statement Monday that was translated via Google. The department also said it would “not rule out” tariffs on newly purchased agricultural goods after August 3.


China is one of the largest buyers of U.S. agriculture. Bloomberg News reported that Beijing may stop importing them completely in response to new tariffs by the United States. According to reports by Chinese State media, it would also consider slapping tariffs on U.S. agricultural products that it already bought. Those stories helped exacerbate fears on Wall Street pushing stocks to their worst day of the year. Now that China has confirmed the reports, it could add to pressure on equities. Stock futures fell Monday, implying a 480 point drop Tuesday.

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This is ridiculous. Know when you’ve lost.

Trump Orders Freeze On All Venezuelan Government Assets In US (AFP)

President Donald Trump on Monday ordered a freeze on all Venezuelan government assets in the United States and barred transactions with its authorities, in Washington’s latest move against President Nicolas Maduro. Trump took the step “in light of the continued usurpation of power by Nicolas Maduro and persons affiliated with him, as well as human rights abuses,” according to the order. The Wall Street Journal said the move was the first against a Western Hemisphere government in over 30 years, and imposes restrictions on Caracas similar to those faced by North Korea, Iran, Syria and Cuba. Asked last week if he was considering a “blockade or quarantine” of Venezuela, Trump responded: “Yes, I am.”


The order affects “all property and interests in property of the Government of Venezuela that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any United States person.” These assets “are blocked and may not be transferred, paid, exported, withdrawn, or otherwise dealt in,” the order said. The measure also bars transactions with Venezuelan authorities whose assets are blocked. It prohibits “the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any person whose property and interests in property are blocked pursuant to this order,” as well as “the receipt of any contribution or provision of funds, goods, or services from any such person.”

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“This abyss of missing social relations is made worse by the everyday physical settings for everyday lives based on nothing: the wilderness of parking lots that America has turned itself into.”

Hold the Teddy Bears and Candles (Kunstler)

In a nation afflicted by fads, crazes, manias, and rages, mass murder is the jackpot for nihilists — begging the question: why does this country produce so many of them? Answer: this is exactly what you get in a culture where anything goes and nothing matters. Extract all the meaning and purpose from being here on earth, and erase as many boundaries as you can from custom and behavior, and watch what happens, especially among young men trained on video slaughter games. For many, there is no armature left to hang a life on, no communities, no fathers, no mentors, no initiations into personal responsibility, no daily organizing principles, no instruction in useful trades, no productive activities, no opportunities for love and affection, and no way out.

This abyss of missing social relations is made worse by the everyday physical settings for everyday lives based on nothing: the wilderness of parking lots that America has turned itself into. Such is the compelling myth of the New World as a wilderness that we obliged ourselves to re-enact it, minus nature, including human nature, especially what may be noble and sacred about human nature. The old truism sticks: when nothing is sacred, everything is profane, and what could be more profane than slaughtering your fellow humans en masse, for no good reason? Just because you felt like it at the time? Another time, you might feel like scarfing some tacos, or checking in on the free porn sites, or tweaking some crushed-up oxycontin.

One message from the culture of anything-goes-and-nothing-matters comes through loud and clear: if it feels good, do it! And if you feel bad, do something to make yourself feel better. The wonder is that the way we live these days hasn’t turned more people into homicidal maniacs, considering how many are out there feeling bad in this grotesque landscape of incessant motoring, vivid purposelessness, and lost aspiration — unless these bloody skirmishes are the precursor to some more general outbreak of murderous havoc. It’s not hard these days to imagine the political animus ratcheting up to something like a new civil war. If it works out that way, it will be the most psychologically confused political event of modern history.

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Don’t make the ideas too big.

Fourth Turning Economics (Jim Quinn)

The specific details of each crisis change, but economic catalysts have initiated all previous Fourth Turnings and led ultimately to bloody conflict. There is nothing in the current dynamic of this Fourth Turning which argues against a similar outcome. The immense debt, stock and real estate bubbles, created by feckless central bankers, corrupt politicians, and spineless government apparatchiks, have set the stage for the greatest financial calamity in world history. Rather than taking the bitter medicine of purging the system of bad debt and allowing zombie banks and corporations to die, the ruling class has chosen to ramp up the debt orgy and reward themselves and their cronies with ill-gotten riches, while impoverishing the masses.

Their arrogance and hubris have grown to vast proportions and will eventually result in a bloody backlash from those they have screwed over. The election of Donald Trump over the hand-picked candidate of the oligarchy, was a reaction to the raping and pillaging of Main Street by the greedy soulless psychopaths in suits on Wall Street and in the halls of the Eccles building in Washington D.C. The average hard-working American has seen eight years of “government of the bankers, by the bankers, for the bankers”. Wall Street was bailed out and rewarded with the ability to borrow at 0% from their captured Federal Reserve. Zombie corporations were kept alive with low interest debt, with no adjustment for risk.

The cowardly politicians drove the national debt from $11.5 trillion to over $20 trillion, while accomplishing minimal GDP growth (negative growth using a real inflation rate), and enriching mega-corporations and the top .1%. Meanwhile, risk averse senior citizens, depending upon some interest income to survive, were thrown under the bus by Bernanke, Yellen and Powell. It was the deplorables in flyover country, the blue-collar workers in Pennsylvania, Michigan, Wisconsin and Ohio, and senior citizens in Florida who voted their wallets, which had been picked by establishment politicians for the previous eight years.

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Again, big ideas. You easily get lost in those.

Things Fall Apart (Michael Krieger)

The primary shift that’s occurring is the U.S. empire has lost its ability to dictate all terms to all countries at all times. This capacity to dictate has been enforced via a two-pronged approach for decades. The prongs are global military dominance and control of the financial system. The first is threatened by the fact we’ve already entered a world in which it’s easier to frustrate global empire than it is to maintain it. We’ve seen this manifest in numerous places over the course of the 21st century. The war in Afghanistan is an ongoing failure despite it being the longest conflict in U.S. history, and the Iraq war (based on fake news) resulted in the death of hundreds of thousands and merely strengthened Iran’s position in the region.

Meanwhile, U.S. regime change plans in Syria were thwarted despite the empire’s best efforts, and Trump’s deranged crew of neocons still can’t even get rid of Maduro in Venezuela. Deny it all you want, but the geopolitical map has fundamentally changed. Meanwhile, the financial system itself (a tremendous source of U.S. imperial power) is also fundamentally broken. The first major failure in this regard happened back on August 15, 1971 when Richard Nixon closed the gold window.

Whether you believe this was a primary contributor to many of the negative trends that emerged afterwards likely depends on your personal ideology, but it’s undeniable that shortly after this event we started to see a major ramp up in the financialization of everything as well as a stagnation in median wage growth. A global buildup of financialization and fraud-based financial products played a key role in bringing us to where we are today, and also culminated in the second major failure of the global financial system in 2008. That was the moment when serious reform and severe consequences for the criminal perpetrators of economic collapse could’ve reset the system and brought the world back to a sustainable path, but we all know that’s not what happened.

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“It does not deny that no-deal would be awful – it welcomes this awfulness as the Great Disruption that completes the Irish national revolution.”

Sinn Féin Joins the Great Disruption (Fintan O’Toole)

The first – and at the moment by far the most decisive – group of Great Disruptors consists of the disaster capitalists fronted by Johnson. Their Utopia is Singapore. They believe, as Priti Patel, Dominic Raab, Liz Truss and other Tory young Turks wrote in Britannia Unchained in 2012, that the British have grown lazy and useless, their buccaneering spirit sapped by a culture of dependency. They see no-deal as the Big Bang that will blow the welfare state, environmental standards and labour protections to smithereens. Out of this chaos will come a new Global Britain of very low taxes for the rich, unregulated hyper-capitalism and boundless “free” markets.

The second group is the high command of the Labour Party around Jeremy Corbyn. Their Utopia is Socialism in One Country. They believe that a no-deal Brexit will free Britain from the wishy-washy social market capitalism of the EU and thus ultimately from capitalism itself. They have their roots in the socialist distaste for the European project that was, it is easy to forget, once the mainstream of British Euroscepticism. In that mentality, the EU was seen as a last, desperate attempt to shore up a dying capitalist system. Thus, on the far side of a no-deal Brexit, lies the workers’ paradise that is the inevitable outcome of history.

The third group of Great Disruptors is Sinn Féin. Their Utopia is, of course, a United Ireland. They ostensibly oppose a no-deal Brexit, and indeed Brexit itself. But beneath this opposition lies the belief that the worse Brexit is, the quicker we will have a Border poll and the more likely it is that Protestants in Northern Ireland will swim for the green lifeboat to avoid going down with the British ship. Alongside the disaster capitalism of Johnson’s faction and the disaster socialism of Corbyn’s, there is this disaster nationalism. It does not deny that no-deal would be awful – it welcomes this awfulness as the Great Disruption that completes the Irish national revolution.

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If that isn’t scathing, what is?

“I started the meeting off by saying, ‘before we get onto Brexit, fantastic shoes’, and in that instant I could see in her eyes, that she didn’t have an answer in the script before her for this. “So it became, what should have been a light-hearted moment, really quite awkward.”

Nicola Sturgeon: ‘Talking To Theresa May Was Soul Destroying’ (Sky)

Nicola Sturgeon has delivered a brutal verdict on the current and former prime ministers, claiming Boris Johnson tried to put his arm around her back and that talking to Theresa May was “soul destroying”. In a candid and indiscreet interview, Scotland’s first minister said her conversation with Mr Johnson last week was “crazy”, while Mrs May would never depart from a script, which made conversation awkward. Ms Sturgeon’s withering disclosures came in an Edinburgh Fringe Festival event with broadcaster Iain Dale in which she claimed there was growing support for Scottish independence. Asked by Mr Dale about the difference between her meetings with Mrs May and her first encounter with Mr Johnson at her Bute House official residence, she replied: “It was a very different experience.

“I don’t want to be too derogatory or pejorative about Theresa May. She’s obviously no longer prime minister, but having conversations with Theresa May was pretty soul destroying. “She would never depart from a script, no matter where you tried to take the conversation. “I remember in one meeting, going in and trying to think about how can we get this meeting off on a sort of gentler start before we immediately got into the areas where we disagreed. “And she had, as she often did, a fantastic pair of shoes, a really stylish pair of shoes. And I quite like shoes, so I started the meeting off by saying, ‘before we get onto Brexit, fantastic shoes’, and in that instant I could see in her eyes, that she didn’t have an answer in the script before her for this. “So it became, what should have been a light-hearted moment, really quite awkward.

“So talking to Boris, at least it was like having a conversation, albeit a bit of a crazy one. [..] “Boris Johnson is a prime minister that the vast of majority of people in Scotland, had they been given any choice, would not have chosen to give the keys of Number 10 Downing Street to. “He’s a prime minister who is intent on taking us out of Europe against our will, looks intent on taking us out without a deal and the catastrophe that would bring about I think is well understood here. “So I wasn’t overly thrilled to be standing on the steps of Bute House welcoming Boris Johnson as prime minister.”

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Jul 232019
 
 July 23, 2019  Posted by at 9:48 am Finance Tagged with: , , , , , , , , , , , ,  


Odilon Redon Sunset n.d.

 

US Justice Department Tells Mueller To Limit Congressional Testimony (R.)
What Goes Around (Kunstler)
A Non-Hack That Raised Hillary’s Hackles (Ray McGovern)/span>
Inequality is Destroying Democratic Capitalism (Deaton)
Who Was Jeffrey Epstein Calling? (NYMag)
Chelsea Clinton Denies Ties To Jeffrey Epstein’s Alleged ‘Madam’ (MN)
UK’s May Takes Parting Shot at Putin in Desperate Diversion From Failure (SCF)
Iran Warns West Against Starting Conflict (R.)
France To Shut Down Nuclear Plants Due To Heatwave (Montel)
Huge Swathes Of The Arctic On Fire, Satellite Images Show (Ind.)

 

 

He might as well stay home. Can’t talk about Concord, can’t talk about anything not in the report.

US Justice Department Tells Mueller To Limit Congressional Testimony (R.)

The U.S. Justice Department told former Special Counsel Robert Mueller on Monday he should limit his testimony before Congress this week to discussing his public report on the Russia probe. In a letter to Mueller, Associate Deputy Attorney General Bradley Weinsheimer said his testimony set for Wednesday “must remain within the boundaries of your public report because matters within the scope of your investigation were covered by executive privilege.” The letter said “these privileges would include discussion about investigative steps or decisions made during your investigation not otherwise described in the public version of your report.”

Mueller completed in March his nearly two-year-long probe into Russian meddling in the 2016 election and possible obstruction of justice by President Donald Trump. The Justice Department released a redacted copy of his 448-page report in April. A spokesman for Mueller, Jim Popkin, said no one at the Justice Department, Congress or the White House would review Mueller’s statement before he delivers it on Wednesday. In back-to-back hearings before the House of Representatives Judiciary and Intelligence committees, Democrats are expected to try to get Mueller to focus his testimony on specific examples of Trump’s misconduct.

[..] Mueller has been using offices at his former law firm WilmerHale and working with a small team from the special counsel’s office to prepare for Wednesday’s hearings, Popkin said. “He will come well prepared,” Popkin said. “His team has been working on this for a while and they will be ready for whatever comes their way.”

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“is it possible that he’s just not very bright?”

What Goes Around (Kunstler)

The entrapment operation that was the Special Counsel’s covert mission has turned out to be Mr. Mueller own personal booby-trap, prompting the question: is it possible that he’s just not very bright? Though Mr. Mueller’s final report asserted that the Russian government interfered in “a sweeping and systemic fashion” to influence the 2016 election, the 450-page great tome contains zero evidence to support that claim, and the discrepancy was actually noticed by federal judge Dabney Friedrich who is presiding over the case against the alleged Russian Facebook trolls that was one of the two tent-poles in the RussiaGate fantasy. The case is now blowing up in Robert Mueller’s face.

In early 2018, Mr. Mueller sold a DC grand jury on producing indictments against a Russian outfit called the Internet Research Agency and its parent company Concord Management, owned by Russian oligarch Yevgeny Prigozhin for the so-called election meddling. The indictment was celebrated as a huge coup at the time by the likes of CNN and The New York Times, styled as a silver bullet in the heart of the Trump presidency. But the indicted parties were all in Russia, and could not be extradited, and there was zero expectation that any actual trial would ever take place — leaving Mueller & Co. off-the-hook for proving their allegations.

To the great surprise of Mr. Mueller and his “team,” Mr. Prigozhin hired some American lawyers to defend his company in court. Smooth move. It automatically triggered the discovery process, by which the accused is entitled to see the evidence that prosecutors hold. It turned out that Mr. Mueller’s team had no evidence that the Russian government was involved with the Facebook pranks. This annoyed Judge Friedrich, who ordered Mr. Mueller and his lawyers to desist making public statements about Concord and IRA’s alleged “sweeping and systemic” collusion with Russia, and threatened legal sanctions if they did.

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Three years ago. That went by fast.

A Non-Hack That Raised Hillary’s Hackles (Ray McGovern)/span>

Three years ago Monday WikiLeaks published a trove of highly embarrassing emails that had been leaked from inside the Democratic National Committee. As has been the case with every leak revealed by WikiLeaks, the emails were authentic. These particular ones, however, could not have come at a worse time for top Democratic Party officials. The emails made it unmistakably clear that the DNC had tipped the scales sharply against Democratic insurgent Bernie Sanders, giving him a snowball’s chance in hell for the nomination. [..] A mere four days after the WikiLeaks release, a well orchestrated Democratic Convention nominated Clinton, while many Sanders supporters loudly objected.

Thus, she began her campaign under a cloud, and as more and more Americans learned of the fraud that oozed through the DNC email correspondence — including the rigging of the Democratic primaries — the cloud grew larger and darker. On June 12, 2016, six weeks before the convention, WikiLeaks publisher Julian Assange had announced in an interview on British TV, “We have upcoming leaks in relation to Hillary Clinton … We have emails pending publication.” Independent forensic investigations demonstrated two years ago that the DNC emails were not hacked over the Internet, but had been copied onto an external storage device — probably a thumb drive. Additional work over recent months has yielded more evidence that the intrusion into the DNC computers was a copy, not a hack, and that it took place on May 23 and 25, 2016.

No one knew how soon WikiLeaks would publish the emails, but the DNC offense/defense would surely have to be put in place before the convention scheduled to begin on July 25. That meant there were, at most, six weeks to react. But it only took two days. As early as July 24, about 48 hours after the leaks were published, and a day before the convention, the DNC first blamed Russia for hacking their emails and giving them to WikiLeaks to sabotage Clinton. Granted, it was a stretch — and the DNC would have to hire a pliable cybersecurity firm to back up their claim. But they had good reason to believe that CrowdStrike would perform that service. It was the best Clinton campaign manager Robbie Mook and associates could apparently come up with.

If they hurried, there would be just enough time to prepare a PR campaign before the convention and, best of all, there was little doubt that the media could be counted on to support the effort full bore. [..] It pretty much worked like a charm. The late Senator John McCain and others were quick to call the Russian “hack” an “an act of war.” Evidence? None. For icing on the cake, then-FBI Director James Comey decided not to seize and inspect the DNC computers. Nor, as we now know, did Comey even require a final report from CrowdStrike.

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Not sure having it discussed by well-paid economists is all that useful.

Inequality is Destroying Democratic Capitalism (Deaton)

At the risk of grandiosity, I think that today’s inequalities are signs that democratic capitalism is under threat, not only in the US, where the storm clouds are darkest, but in much of the rich world, where one or more of politics, economics, and health are changing in worrisome ways. I do not believe that democratic capitalism is beyond repair nor that it should be replaced; I am a great believer in what capitalism has done, not only to the oft-cited billions who have been pulled out of poverty in the last half-century, but to all the rest of us who have also escaped poverty and deprivation over the last two and a half centuries. It also provides our jobs and the cornucopia of goods and services that we take for granted.

And Milton Friedman, whose starry-eyed view of capitalism has much to answer for, was not entirely wrong when he extolled the freedom that free markets can bring. Though history has not been kind to his view that equality would be guaranteed by using markets to pursue freedom. But we need to think about repairs for democratic capitalism, either by fixing what is broken, or by making changes to head off the threats; indeed, I believe that those of us who believe in social democratic capitalism should be leading the charge to make repairs.

As it is, capitalism is not delivering to large fractions of the population; in the US, where the inequalities are clearest, real wages for men without a four-year college degree have fallen for half a century, even at a time when per capita GDP has robustly risen. Mortality rates are rising for the less-educated group at ages 25 through 64, and by enough that life expectancy for the entire population has fallen for three years in a row, the first time such a reversal has happened since the end of the first world war and the great influenza epidemic. Less educated Americans are dying by their own hands, from suicide, from alcoholic liver disease, and from overdoses of drugs. Morbidity is rising too, and they are also suffering from an epidemic of chronic pain that, for many, makes a misery of daily life.

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“If you watch Fox News, you will believe Bill Clinton was Epstein’s No. 1 pal and enabler. If you watch MSNBC, this scandal is usually all about Donald Trump. ”

Who Was Jeffrey Epstein Calling? (NYMag)

Perhaps, at long last, a serial rapist and pedophile may be brought to justice, more than a dozen years after he was first charged with crimes that have brutalized countless girls and women. But what won’t change is this: the cesspool of elites, many of them in New York, who allowed Jeffrey Epstein to flourish with impunity. For decades, important, influential, “serious” people attended Epstein’s dinner parties, rode his private jet, and furthered the fiction that he was some kind of genius hedge-fund billionaire. How do we explain why they looked the other way, or flattered Epstein, even as they must have noticed he was often in the company of a young harem?

Easy: They got something in exchange from him, whether it was a free ride on that airborne “Lolita Express,” some other form of monetary largesse, entrée into the extravagant celebrity soirées he hosted at his townhouse, or, possibly and harrowingly, a pound or two of female flesh. If you watch Fox News, you will believe Bill Clinton was Epstein’s No. 1 pal and enabler. If you watch MSNBC, this scandal is usually all about Donald Trump. In fact, both presidents are guilty (at the very least) of giving Epstein cover and credibility.

There are so many unanswered questions about Epstein, but one that looms over all of them is whether the bipartisan crowd who cleared a path for him will cover its tracks before we can get answers — not just Clinton and Trump and all those who drank at Epstein’s trough but also (among others) institutions like Harvard, Dalton, and the Council on Foreign Relations, or lawyers like the New York prosecutor Cy Vance Jr., whose office tried to downgrade Epstein’s sex-offender status; Kenneth Starr, who tried to pressure Republican Justice Department officials to keep the Epstein case from ever being prosecuted; and Alan Dershowitz, who tried to pressure the Pulitzer Prizes to shut out the Miami Herald for its epic investigative reporting that cracked open the case anew.

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People are going to start talking soon, if only to protect themselves. But why hasn’t Maxwell been arrested yet?

Chelsea Clinton Denies Ties To Jeffrey Epstein’s Alleged ‘Madam’ (MN)

Since Jeffrey Epstein’s latest arrest on sex trafficking charges, a who’s who of the rich and powerful — notably Donald Trump, Prince Andrew and Bill Clinton — have rushed to downplay their associations with the financier who is accused of abusing underaged girls. Now Chelsea Clinton has joined her ex-president father on this who’s who list. Her representative issued a statement to Politico over the weekend denying reports that the former First Daughter was close friends with Ghislaine Maxwell, Epstein’s ex-girlfriend and the alleged “madam” who has been accused of helping him procure underaged girls for sex.

Politico’s report on Maxwell, 57, focuses on how the daughter of the late British publishing mogul Robert Maxwell helped Epstein, the Brooklyn-born son of a New York City parks groundskeeper, gain access to social circles that allowed him to become friendly with two U.S. presidents, billionaire business moguls, America’s media elite and at least one member of the British royal family. Maxwell has not been criminally charged, but has settled two lawsuits filed by women who say she participated in Epstein’s alleged sex trafficking, the New York Times reported last week. She has denied any wrongdoing. Politico said Maxwell first grew close to the Clinton family after former president Bill Clinton left office, and eventually became friends with Chelsea Clinton, vice chair of the Clinton Foundation.

According to the news outlet, the two women vacationed together on a yacht in 2009, and Maxwell attended Chelsea’s wedding to Marc Mezvinsky in 2010, Politico reported. A photo of Maxwell at the wedding has circulated online. Maxwell also participated in the Clinton Foundation’s Clinton Global Initiative as recently as 2013, through The TerraMar Project, an oceanic non-profit she founded, according to the Initiative’s website. The contacts between Chelsea Clinton and Maxwell appear to have occurred after Maxwell’s name first emerged in accounts of Epstein’s alleged sexual abuse. “Ghislaine was the contact between Epstein and Clinton,” a person familiar with the relationship told Politico. “She ended up being close to the family because she and Chelsea ended up becoming close.”

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May goes away in July. Bye.

UK’s May Takes Parting Shot at Putin in Desperate Diversion From Failure (SCF)

In what was billed as her last major speech before quitting Downing Street, Britain’s outgoing Prime Minister Theresa May focused her concerns on Russian President Vladimir Putin, lashing out at his “cynical falsehoods” and admonishing her successor “to stand up to” the Russian leader. Given her ignominious failure as premier over the Brexit fiasco, it seemed a strange choice of topic as she addressed the Chatham House think tank in London this past week. Her speech dealt with the wider theme of rising “populist politics” in the US and Europe. And she sought to portray Putin as an archetypal sinister figure fomenting populist threat to the “liberal” democratic order.

At one point, May claimed: “No one comparing the quality of life or economic success of liberal democracies like the UK, France and Germany to the Russian Federation would conclude that our system is obsolete.” This was supposed to be a riposte to an interview given by Putin to the Financial Times last month ahead of the G20 summit in Japan. During a lengthy interview on a wide range of issues, the Russian president was quoted as saying: “The liberal idea has become obsolete. It has come into conflict with the interests of the overwhelming majority of the population.”

Putin was apparently explaining a fairly straightforward and, to many observers, valid assessment of international politics. Namely, that Western establishments and institutions, including the mainstream media, are experiencing a crisis in authority. That crisis has arisen over several years due to popular perception that the governance of the political class is not delivering on democratic demands of accountability and economic progress. That in turn has led people to seek alternatives from the established parties, a movement in the US and Europe which is denigrated by the establishment as “populist” or rabble rousing.

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Boris is capable of doing very stupid things.

Iran Warns West Against Starting Conflict (R.)

Iran’s foreign minister warned the West on Monday against “starting a conflict,” saying it was not seeking confrontation after its military seized the British-flagged tanker Stena Impero in the Strait of Hormuz last week. London described the seizure of the Stena Impero as “state piracy” and on Monday called for a European-led naval mission to ensure safe shipping through the Strait of Hormuz. Speaking in Nicaragua, Foreign Minister Mohammad Zarif said Iran had taken measures against the ship to implement international law, not in retaliation for the British capture of an Iranian tanker two weeks earlier in Gibraltar.


“Starting a conflict is easy, ending it would be impossible,” Zarif told reporters after meeting his Nicaraguan counterpart. “It’s important for everybody to realize, it’s important for Boris Johnson to understand, that Iran does not seek confrontation,” he said, referring to the front-runner to become Britain’s new prime minister. “Iran wants to have normal relations based on mutual respect,” he added. Zarif said Iran acted when it observed that the UK ship did not follow regulations. “The UK ship had turned down its signal for more time than it was allowed to (and) was passing through the wrong channel, endangering the safety and security of shipping and navigation in the Strait of Hormuz, for which we are responsible,” Zarif said.

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France imports UK wind energy.

France To Shut Down Nuclear Plants Due To Heatwave (Montel)

French weather service Meteo France issued a 40C heatwave warning on Monday for 21 regions across France, while utility EDF will shut down nearly 3 GW of nuclear capacity this week amid cooling water issues. Golfech 2 (1.3 GW) on the Garonne river would be stopped from Tuesday at 23:00 until 29 July at 23:59, while Golfech 1 (1.3 GW) would be halted from Wednesday at 02:00 until 29 July at 23:59. Low river flows and high water temperatures can force operators to cut output if it breaches environmental limits. Flows on key French rivers had “significantly” weakened over the last two weeks amid persistent hot and dry weather, the ministry of energy told Montel recently.


The St Alban 1 and 2 (2.6 GW) reactors, meanwhile, saw their output cut over the weekend, and though both reactors are now back online, EDF warned last week it could curb output at its nuclear plants located along the river Rhone – which also included Bugey (3.7 GW) – due to declining flows amid the hot weather. The temperature of the Rhone around St Alban and Tricast in was currently 26C, while it was 23.4C at Bugey, estimates from Montel’s Energy Quantified showed, with 28C deemed unsafe. French TSO RTE expected power demand to peak at 59.4 GW on Thursday and 58.6 GW on Friday, with a surge expected due to an increase in need for cooling.

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Ugly. Peat fires are impossible to control.

Huge Swathes Of The Arctic On Fire, Satellite Images Show (Ind.)

Vast swathes of the Arctic are suffering from “unprecedented” wildfires, new satellite images have revealed. North of the Arctic circle, the high temperatures are facilitating enormous wildfires which are wreaking ecological destruction on a colossal scale. It comes after the world’s hottest June on record which has been followed by a devastating heatwave in the US, with Europe forecast for the same treatment later this week. Satellite images reveal fires across Greenland, Siberia and Alaska, with warm dry conditions following ice melt on the enormous Greenland icesheet commencing a month earlier than average.

Pierre Markuse, a satellite photography expert, posted images showing smoke billowing across massive areas of uninhabited and wild land. The pictures show forest fires and burning peat. They also reveal the extent of the damage the fires leave behind. In Alaska wildfires have already burned more than 1.6 million acres of land. Mark Parrington, a senior scientist at the European Centre for Medium-Range Weather Forecast, said the amount of CO2 emitted by Arctic wildfires between 1 June and 21 July 2019 is around 100 megatonnes and is approaching the entire 2017 fossil fuel CO2 emissions of Belgium.


Satellite image processed by Pierre Markuse showing numerous wildfires burning in Russia just south of the Arctic Circle (Pierre Markuse/Creative Commons)

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Jun 092019
 
 June 9, 2019  Posted by at 9:52 am Finance Tagged with: , , , , , , , , , , , ,  


Georges Seurat A Sunday Afternoon on the Island of La Grande Jatte 1884

 

Angst and Madness at the End of Empire (Orphan)
Theresa May: The Total Decay Of Political Integrity And Vision (Ind.)
Boris Johnson Threatens To Withhold $50 Billion Brexit Payment (R.)
US Auto Loans Hit Record (CNBC)
Used-Car Wholesale Prices Surge (WS)
ECB Policymakers Open To Cut Rates If Growth Weakens (R.)
China Banking Regulator Says Small Bank Risks Manageable (R.)
IMF Warns Of Giant Tech Firms’ Dominance (BBC)
Amazon Gets Booted by FedEx (WS)
The End Of The Arctic As We Know It (G.)

 

 

“..those expensive bases of aggression around the world will begin to cost more than they bring in profit.”

Angst and Madness at the End of Empire (Orphan)

[..] the angst of the American bourgeoisie is demonstrated more by what it doesn’t speak about than what it does. It is a disquiet which is at once terrified of the collapse that looms ahead and horrified at the idea of losing the status quo arrangement, even though that status quo is benefiting fewer and fewer people. It stands simultaneously aghast and paralyzed before the obvious madness of its rulers, and yet continually grasps at failed “lesser evilism” as a solution. And it largely still buys into the noxious mythology of it being the “greatest country on earth.” The corporate elite, having stripped down civic education over decades, robbed them of their political agency and resistance and replaced it with a sanitized history and demoralizing optimism, or “positive thinking,” which places all blame for their collective state and its inadequacies on the individual.

That it has been so lauded by Wall Street should cause anyone to wonder why it has been so internalized by the disenfranchised masses. To be sure, this arrangement is rapidly meeting its end. Banking and corporate corruption, never really having been dealt with in the last “Great Recession” or its notorious state funded “bailout,” has only become more blind and reckless. The membrane of the bubble created after that fiasco, born in avarice, is thinning in plain sight. It is about to burst again, and this time it will be far more catastrophic. The endless imperialistic wars that the US has engaged in for the last decades are also creating a financial strain.

Coupled with climate breakdown those expensive bases of aggression around the world will begin to cost more than they bring in profit. In the US itself biblical floods are wiping clean the soil graded for agriculture throughout the Midwest and causing tremendous economic hardship for scores of rural and commercial farmers. Droughts offer a grim alternative to this increasingly chaotic climate pattern. Food prices will undoubtedly rise in the future thanks to a capitalist system which creates artificial shortages and surpluses.

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“..our so called leaders are devoid of principle, immune to responsibility and seem only to prioritise their own interests, power and most importantly private profit above all. Theresa May is exhibit one. ”

Theresa May: The Total Decay Of Political Integrity And Vision (Ind.)

As an NHS doctor, making a diagnosis is quite an important part of my job. Central to it in fact. One has to process and put together information while providing care to your patients. Attention to detail is critical. For many of us working within the NHS therefore, it has been abundantly clear that the diagnosis for Theresa May has been terminal for some time. But where did it all go wrong? Was it always destined to end like this? What could have been done? Watching her face crumple and tears fall as she defended her claim to have “tackled Britain’s burning injustices”, as well as saying she had proudly served the country she loved, surely only the coldest of hearts could not have pity for a woman who had done her very best at the worst of times?

Well let me answer in the only way I know how: honestly, Theresa May is a mere symptom of the problem. The diagnosis is much greater and much more devastating than this one tragic figure. What we appear to be all bearing witness to is the total decay of political integrity and vision. We now live in a world where our so called leaders are devoid of principle, immune to responsibility and seem only to prioritise their own interests, power and most importantly private profit above all. Theresa May is exhibit one.

The woman who has supposedly tackled “burning injustices” has consciously implemented measures to ensure inequality has soared, overseen childhood and old-age poverty skyrocket, had life expectancy fall under her watch, ordered the Home Office to send out racist, xenophobic anti-immigration “Go Home” vans, and who oversaw a “hostile environment” policy that led to the deportation of many of the Windrush generation.

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Hollowness echoes with the people.

Boris Johnson Threatens To Withhold $50 Billion Brexit Payment (R.)

Boris Johnson, the leading candidate to succeed Theresa May as Britain’s next prime minister, said he would withhold a previously agreed 39 billion pound ($50 billion) Brexit payment until the European Union gives Britain better exit terms. The EU has repeatedly said it will not reopen discussion of the Brexit transition deal it reached with May last year, which British lawmakers have rejected three times, prompting May to announce her resignation earlier this month. May stepped down as leader of the governing Conservatives on Friday. Johnson, a former foreign secretary in May’s cabinet, is popular with ordinary Conservative Party members, who will decide between the two candidates who come top in a series of votes by Conservative lawmakers over the coming weeks.


“I always thought it was extraordinary that we should agree to write that entire cheque before having a final deal. In getting a good deal, money is a great solvent and a great lubricant,” Johnson told the Sunday Times. Britain is due to leave the EU on Oct. 31. If Parliament does not approve a deal – and the government does not ask the EU for another delay – there risks being major economic disruption from a disorderly departure. The 39 billion pounds represents outstanding British liabilities to the EU, which would be paid over a number of years according to the withdrawal agreement negotiated by May. Johnson also said border arrangements with Ireland should be settled only as part of a long-term agreement, rejecting a “backstop” which would avoid checks on Northern Ireland’s border but which Conservative lawmakers fear is a backdoor way of requiring Britain to continue to follow EU rules after Brexit.

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Record loans for clunkers.

US Auto Loans Hit Record (CNBC)

People buying a new vehicle are borrowing more and paying more each month for their auto loan. Experian, which tracks millions of auto loans each month, said the average amount borrowed to buy a new vehicle hit a record $32,187 in the first quarter. The average used-vehicle loan also hit a record, $20,137. “We have not seen a slowdown in loan demand. In fact, volume for new and used loans is up from previous years,” said Melinda Zabritski, senior director of automotive financial solutions for Experian. With sales of new vehicles moderating slightly after the four best years the industry has ever seen in the U.S., dealers and auto executives are watching whether consumers will be more resistant to the steady increase in new car prices.


That is not happening. In fact, the average amount borrowed topped $32,000 for the first time ever. As a result, the average monthly payment for a new vehicle continued to climb to a new high of $554 and to a record $391 for used vehicles, according to Experian. While new car sales and loans are still strong, people with the best credit scores are increasingly buying a used model instead of new. Experian says 61.8% of those with a prime credit rating and 44.7% of those with a super prime credit rating took out loans to buy a used vehicle in the first quarter. Those are the highest percentages Experian has ever recorded for prime and super prime used vehicle borrowing.

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There’s something very ironic hidden in here.

Used-Car Wholesale Prices Surge (WS)

Prices of used vehicle that were sold in May at wholesale auctions rose 4.0% compared to May last year, according to Manheim, the largest auto-auction house in the US, running about 8 million vehicles through its venues a year. The chart of the Manheim Used Vehicle Value Index, which is adjusted for mix, mileage, and seasonality, shows the two price surges from end of March 2017 and March 2018 that were subsequently only partially unwound. And the 2019 selling season is beginning likewise. The last time there was such an extended period of year-over-year price gains was from the trough of the Financial Crisis. After prices had collapsed in 2008, they started bouncing off sharply in January 2009.

By the time the “Cash for Clunkers” program started officially on July 1, 2009, used vehicle prices had already recovered to their prior pre-crisis levels (see chart below). But “cash for clunkers” boosted prices further. Congress had appropriated $1 billion that was supposed to last through November. But by July 30, it was gone. Congress appropriated another $2 billion, which was soon gone too. Car buyers were handed this $3 billion to trade in their “clunkers” and buy a new vehicle. Cash for clunkers was designed to boost new-vehicle sales. The engines of these trade-ins under the program were destroyed and the vehicle was then towed to the salvage yard for parts.


As a side effect, the program destroyed a portion of the most affordable vehicles – another devastating blow to lower-income car buyers in subsequent years. Not only were the most affordable vehicles gone; but by removing this supply from the market, Cash for Clunkers caused the prices up the entire scale of used cars to surge. This included my three-year-old car. Its book value rose month after month, even as the car got older and accumulated miles, something I’d never seen before, and I’d spent many years in the car business.

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So Europeans can buy clunkers too?!

ECB Policymakers Open To Cut Rates If Growth Weakens (R.)

European Central Bank policymakers are open to cutting the ECB’s policy rate again if economic growth weakens in the remainder of the year and a strong euro hurts a bloc already bearing the brunt of a global trade war, two sources said. The ECB said on Thursday that its interest rates would stay “at their present levels” until mid-2020 but President Mario Draghi added rate setters had started a discussion about a possible cut or fresh bond purchases to stimulate inflation. The apparently mixed message failed to convince some investors, who saw it as too tenuous a commitment to more stimulus. This sent the euro rallying to a 2-1/2 month high of $1.1347 against the U.S. dollar.


But two sources familiar to the ECB’s policy discussions said a rate cut was firmly in play if the bloc’s economy was to stagnate again after expanding by 0.4% in the first quarter of the year. “If inflation and growth slow, then a rate cut is warranted,” said one of the sources, who requested anonymity because the ECB’s deliberations are confidential. The ECB’s deposit rate is already 40 basis points below zero and the bloc’s top-rated governments, such as Germany’s, can borrow at negative rates for up to a decade. In this context, countering the euro’s strength, rather than lowering already rock-bottom borrowing costs, would be the main reason for a further cut to that deposit rate, one of the sources said.

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What else are they going to say?

China Banking Regulator Says Small Bank Risks Manageable (R.)

China’s banking regulator says risks at small and mid-sized banks are manageable, a central bank publication reported on Sunday, in the latest move to soothe investors’ concerns after the government took over a troubled regional lender last month. The China Banking and Insurance Regulatory Commission (CBIRC) took control of Inner Mongolia’s Baoshang Bank due to “serious” credit risks on May 24, rattling Chinese markets and prompting the People’s Bank of China (PBOC) to inject cash into the banking system. While authorities said it was a standalone case, the seizure comes as Beijing is urging banks to boost lending to help cushion an economic slowdown, fuelling concerns about rising debt and more bad loans.


“At present, small and mid-sized banks are operating smoothly, liquidity is relatively ample, and overall risks are fully manageable,” the CBIRC said in a Q&A interview with the Financial News. The regulator also said big banks are willing to continue interbank business with small banks to safeguard the stability of financial markets. Some small banks rely heavily on short-term borrowing from the interbank market, leaving other banks at risk if they run into trouble. A Reuters analysis showed at least 18 smaller institutions have not published up-to-date financial reports, and in some of those cases senior regulatory officials have been appointed for bank management oversight.

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Can I add a warning about IMF dominance?

IMF Warns Of Giant Tech Firms’ Dominance (BBC)

Giant technology companies might cause significant disruption to the world’s financial system, the head of the International Monetary Fund has warned. Christine Lagarde said just a few firms with big data access and artificial intelligence could run the global payment and settlement arrangements. Her warning came as the G20 finance ministers met in Japan. The summit is also discussing the need to close tax loopholes for internet giants like Facebook and Google. One of the options being considered is to tax such companies where they make their profits – rather than where they base their headquarters.


“A significant disruption to the financial landscape is likely to come from the big tech firms,” Ms Lagarde said in Japan’s south-western city of Fukuoka. She said such firms “will use their enormous customer bases and deep pockets to offer financial products based on big data and artificial intelligence”.”This presents a unique systemic challenge to financial stability and efficiency,” she added. She cited China as a most recent example. “Over the last five years, technology growth in China has been extremely successful and allowed millions of new entrants to benefit from access to financial products and the creation of high-quality jobs,” Ms Lagarde said. “But it has also led to two firms controlling more than 90% of the mobile payments market.”

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Can Bezos buy FedEx?

Amazon Gets Booted by FedEx (WS)

Amazon is aggressively butting in on freight carriers with its own planes, trucks, and delivery infrastructure, and is at the same time aggressively pushing for faster and cheaper service from freight carriers such as FedEx, UPS, and the US Postal Service. And FedEx has had it with Amazon, announcing today that it was dumping Amazon as customer of its FedEx Express division. “FedEx has made the strategic decision to not renew the FedEx Express U.S. domestic contract with Amazon.com, Inc. as we focus on serving the broader e-commerce market,” it said in a surprise statement. The current contract ends June 30.


Its other units that do business with Amazon and its international services with Amazon are not impacted by this decision, FedEx said. FedEx is not overly dependent on Amazon – unlike some other freight companies that now have come to grief under Amazon’s boots, including New England Motor Freight, a less-than-truckload carrier that “stunned” the transportation world when it filed for bankruptcy in February. Interestingly, FedEx chose to address this point explicitly in the statement: “Amazon.com is not FedEx’s largest customer. The percentage of total FedEx revenue attributable to Amazon.com represented less than 1.3 percent of total FedEx revenue for the 12-month period ended December 31, 2018.”

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“It will go when stratification breaks down completely and the Atlantic takes over the whole region.”

The End Of The Arctic As We Know It (G.)

If the Arctic were a patient, doctors would be alarmed by its vital signs. As well as hot flushes, asthma and contamination (the researchers are following up on studies that suggest the Fram strait has one of the highest levels of microplastics in the world), the ocean has also been diagnosed with a weakening of its immune system. For centuries, the Arctic’s distinctive character has been shaped by a layer of cold, relatively fresh water just below the surface, produced by melting ice and glaciers. This has insulated the sea ice from the warmer, denser, saltier waters of the Atlantic currents that flow in the depth. But this stratification is collapsing as temperatures rise.

The oceanic shift was outlined in a landmark study published last year in Science, which found that the water density and temperature of the Fram strait and Barents Sea were increasingly like those of the Atlantic, while further east, Russia’s Laptev sea was starting to resemble what the Barents used to be. “The polar front is shifting,” the lead author, Dr Sigrid Lind, of the Institute of Marine Science and the University of Bergen, told the Guardian this year. “The Arctic as we know it is about to become history. It will go when stratification breaks down completely and the Atlantic takes over the whole region.”


This has not happened for more than 12,000 years, but the shift is well under way. First to succumb, according to Lind, will be the Barents Sea, which will have no fresh water by 2040, then the Kara sea. The consequences will be far-reaching. The food chain is already affected. Atlantic species of cod, herring and mackerel are moving northwards. For the next 20 to 30 years this could boost fishing catches, but forecasts by Norway suggest boom will turn to bust later as the waters grow too warm for fish larvae.


Photograph: Denis Sinyakov/Greenpeace

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May 122019
 
 May 12, 2019  Posted by at 9:36 am Finance Tagged with: , , , , , , , , , , , ,  


Robert Campin Portrait of a woman 1430-35

 

Brexit Party May Get More EU Election Votes Than Tories, Labour Combined (G.)
Fight To Replace PM May Complicating Brexit Talks – Labour’s McDonnell (R.)
Labour Would Trial Universal Basic Income If Elected – McDonnell (G.)
QE Party Over, Bank of Japan Stealth-Tapers Further (WS)
The World’s Dictatress (Hornberger)
Is America Ready for John Bolton’s War With Iran? (Ritter)
Iran’s Rouhani Warns Of Greater Hardship Than War Years Of 1980s (R.)
Guaido Seeks Pentagon Cooperation In Attempt To Take Power (AP)
Boeing Altered Key Switches In 737 MAX Cockpit (ST)
Assange’s Prison Conditions (Press Project)
American Mom Today 50% More Likely To Die In Childbirth Than Her Own Mother (AP)

 

 

“Poll surge for Farage sparks panic among Tories and Labour..”

Brexit Party May Get More EU Election Votes Than Tories, Labour Combined (G.)

Nigel Farage’s Brexit party is on course to secure more support at the European elections than the Tories and Labour combined, according to the latest Opinium poll for the Observer. In the most striking sign to date of surging support for Farage, the poll suggests more than a third of voters will back him on 23 May. It puts his party on 34% of the vote, with less than a fortnight before the election takes place. The poll suggests support for the Conservatives has collapsed amid the Brexit uncertainty, with Theresa May’s party on just 11%. Labour is a distant second, on 21%. The Lib Dems perform the best of any of the openly anti-Brexit parties, one point ahead of the Tories on 12% of the vote.

With the Brexit party securing more than three times the level of support for the Tories, the poll confirms the concerns of senior Conservatives that it is haemorrhaging support as Brexit remains unresolved. Just a fortnight ago, the Brexit party was neck-and-neck with Labour on 28%. Now it has a 13-point lead over Jeremy Corbyn’s party. The Conservatives are now only narrowly ahead of the Brexit party when voters are asked who they would vote for at a general election. The Tories are on 22% support, down 4% on a fortnight ago, with the Brexit party on 21% backing. Labour leads on 28%, but is down five points on the last poll.

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“The problem they have is that literally in front of us they will fall out,” he told the Sunday Mirror. “So the exercise here is holding themselves together. And that is proving impossible. The administration is falling apart.”

Fight To Replace PM May Complicating Brexit Talks – Labour’s McDonnell (R.)

The battle among leading Conservatives to replace Theresa May as prime minister threatens to derail talks with the Labour Party and the bid to find a Brexit compromise, Labour’s John McDonnell said. May, who has offered to quit if MPs accept her Brexit deal, opened cross-party talks with Jeremy Corbyn’s Labour Party more than a month ago after parliament rejected her European Union withdrawal deal three times. The talks with Labour are a last resort for May, whose party’s deep divisions over Brexit have so far stopped her getting approval for an exit agreement and left the world’s fifth largest economy in prolonged political limbo.


McDonnell, Labour’s financial spokesman and a member of the party’s negotiating team, said the situation was precarious. “The problem they have is that literally in front of us they will fall out,” he told the Sunday Mirror. “So the exercise here is holding themselves together. And that is proving impossible. The administration is falling apart.” In terms of progress, the second most powerful man in the Labour Party said nothing new had been put on the table, and in some cases the talks had gone backwards. “It’s so precarious. We’re dealing with an institution that might not be there in three weeks.” He said the talks had been made more difficult by May’s offer to resign because a new leader could rip up anything agreed by the current administration.

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Universal in Sheffield?

Labour Would Trial Universal Basic Income If Elected – McDonnell (G.)

Labour would trial universal basic income if it wins power, shadow chancellor John McDonnell has revealed. Pilot schemes would be held in Liverpool, Sheffield and the Midlands, McDonnell told the Mirror. The plan would do away with the need for welfare as every citizen would be given a fixed sum to cover the basics whether they are rich or poor, in work or unemployed. McDonnell said people can spend the money how they like, but it is intended for study, to set up a business or leave work to care for a loved one. “I’d like to see a northern and Midlands town in the pilot so we have a spread,” he said.

“I would like Liverpool – of course I would, I’m a Scouser – but Sheffield have really worked hard. I’ve been involved in their anti-poverty campaign and they’ve done a lot round the real living wage. I think those two cities would be ideal and somewhere in the Midlands.” Trials have been held elsewhere in the world, including Kenya, Finland and the US, as well as potentially being explored in four Scottish cities. The shadow chancellor was this week handed a feasibility report for different universal basic income (UBI) models for low-income areas, including one in which a whole community gets basic incomes.

All the means-tested benefits – apart from housing benefit – would be taken away and every adult would get a fixed amount per week, plus an additional amount for each child they have. “Of course it’s a radical idea,” McDonnell said. “But I can remember, when I was at the trade unions – campaigning for child benefit and that’s almost like UBI – you get a universal amount of money just based on having a child. “UBI shares that concept. It’s about winning the argument and getting the design right.” The concept has been around since at least the 1960s and was raised in the 1972 US presidential election, followed by the introduction of a UBI scheme called the Manitoba Basic Income Experiment in Canada in 1975.

[..] McDonnell is convinced of the benefits. “The reason we’re doing it is because the social security system has collapsed. We need a radical alternative and we’re going to examine that. “We’ll look at options, run the pilots and see if we can roll it out. If you look at the Finland pilot it says it didn’t do much in terms of employment but did in terms of wellbeing – things like health. It was quite remarkable. “The other thing it did was increase trust in politicians, which can’t be a bad thing.”

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But the central banks has become the whole economy..

QE Party Over, Bank of Japan Stealth-Tapers Further (WS)

Total assets on the balance sheet of the Bank of Japan at the end of April ticked up from March but were flat with the record in February: ¥562 trillion ($5.1 trillion). This amounts to a gigantic 102.2% of nominal GDP. But the BOJ has been tapering its asset purchases since peak QE at the end of 2016, and the growth has slowed to a snail’s pace, by Abenomics QE standards. Despite the BOJs repeated promises of adding ¥85 trillion to its balance sheet every year, the BOJ hasn’t done that since peak QE in 2016 when it added ¥93 trillion. The additions have consistently decreased since then. Over the 12 months through April, it has added merely €27 trillion, the lowest 12-month increase since early days of ramping up Abenomics in March 2013. This amounts to a stealth taper:

Meanwhile, the government of Japan has been borrowing and issuing new debt with reckless abandon, and the gross national debt outstanding has ballooned to ¥1.12 quadrillion, or 203% of nominal GDP (measured in yen). But no problem: the BOJ started buying every Japanese government security that wasn’t nailed down, with the government selling new securities to the banks, and the banks selling them to the BOJ for a small profit. In addition the BOJ mopped up what was coming on the market. The BOJ now holds 43% of all outstanding Japanese government securities, up from 25% in January 2015. These massive purchases of Japanese government securities, and to a lesser extent, the purchases of corporate bonds, equity ETFs, and Japan REITS, have created this enormous balance sheet, but note the flattening spot at the top, a result of the stealth taper:

The stealth taper has reached a level to where the assets added to the balance sheet are small enough that every third month, as long-term securities mature and roll off the balance sheet, the balance sheet shrinks. Then the next two months, the balance sheet gains:

To smoothen out this volatility of the balance sheet and delineate the trend of the stealth taper more clearly, I converted that above data of month-to-month change into a rolling three-month average. The addition in assets over the past six months was ¥1.7 trillion a month on average:

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John Quincy Adams. A bit wiser than Mike Pompeo.

The World’s Dictatress (Hornberger)

In his Fourth of July address to Congress in 1821, U.S. Secretary of State John Quincy Adams stated that if America were ever to abandon its founding foreign policy of non-interventionism, she would inevitably become the world’s “dictatress” and begin behaving accordingly. No can can deny that Adams’ prediction has come true. America has truly become the world’s dictatress — an arrogant, ruthless, brutal dictatress that brooks no dissent from anyone in the world. Now, I use the term “America” because that’s the term Adams used. In actuality, however, it’s not America that has become the world’s dictatress. It is the U.S. government that has become the world’s dictatress.

A good example of this phenomenon involves Meng Wanzhou, a Chinese citizen who serves as chief financial officer of the giant Chinese technology firm Huawei. Having been arrested by Canadian authorities and placed under house arrest, Meng is suffering the wrath of the world’s dictatress. What is her purported crime? That she violated U.S. sanctions against Iran. What do U.S. sanctions on Iran have to do with her? Exactly! She’s a Chinese citizen, not an American citizen. So, why is she being prosecuted by the U.S. government? Sanctions have become a standard tool of U.S. foreign policy. With the exception of libertarians, hardly anyone raises an eyebrow over their imposition and enforcement.

Their objective is to target foreign citizens with death, suffering, and economic privation as a way to bend their regime to the will of the U.S. dictratress and her brutal and ruthless agents. After all, what could be more brutal and ruthless than to target innocent people with death and impoverishment as a way to get to their government? Most foreign citizens have as little control over the actions of their government as individual American citizens have over the actions of their government. Where is the morality in targeting innocent people, especially as a way to achieve a political goal? Isn’t that why people condemn terrorism?

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“.. it is John Bolton, not Iran, who poses the greatest threat to American national security today.”

Is America Ready for John Bolton’s War With Iran? (Ritter)

The threat being promulgated by Bolton, CENTCOM, Pompeo, and the media ignores the reality that Iran has been preparing to strike American military forces in the Middle East for years as part of its efforts towards self-defense. Iran’s short-range ballistic missile capability is part of a larger missile threat that could, at a moment’s notice, blanket U.S. bases in the region with high explosives. Dispatching the Abraham Lincoln battle group and a B-52 task force to the Middle East is an act of theatrical bravado that will do nothing to change that. Iran’s missile force is, for the most part, mobile. The American experience in the Gulf War, and Saudi Arabia’s experience in Yemen, should underscore the reality that mobile relocatable targets such as Iran’s missile arsenal are virtually impossible to interdict through airpower.


By purposefully escalating tensions with Iran using manufactured intelligence about an all too real threat, Bolton is setting the country up for a war it is not prepared to fight and most likely cannot win. This point is driven home by the fact that Mike Pompeo has been recalled from his trip to participate in a National Security Council meeting where the Pentagon will lay out in stark detail the realities of a military conflict with Iran, including the high costs. (Hopefully, they’ll emphasize that Iran would win such a war simply by not losing—all they’d have to do is ride out any American attack.) That Israel is behind the scenes supplying the intelligence and motivation makes Bolton’s actions even more questionable. It shows that it is John Bolton, not Iran, who poses the greatest threat to American national security today.

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The US must still be smart enough to understand it can only lose.

Iran’s Rouhani Warns Of Greater Hardship Than War Years Of 1980s (R.)

Iran’s president, Hassan Rouhani, has called for unity among political factions to overcome conditions that he said may be harder than those during the 1980s war with Iraq, state media reported, as the country faces tightening US sanctions. Donald Trump on Thursday urged Iran’s leaders to talk with him about giving up their nuclear programme and said he could not rule out a military confrontation. The president increased economic and military pressure on Iran, moving to cut off all Iranian oil exports while beefing up the US navy and air force presence in the Gulf. Washington also approved a new deployment of Patriot missiles to the Middle East, a US official said on Friday.


“Today, it cannot be said whether conditions are better or worse than the (1980-88) war period,” Rouhani said, according to the state news agency IRNA. “But during the war we did not have a problem with our banks, oil sales or imports and exports, and there were only sanctions on arms purchases. “The pressures by enemies is a war unprecedented in the history of our Islamic revolution … but I do not despair and have great hope for the future and believe that we can move past these difficult conditions provided that we are united,” Rouhani told activists from various factions.

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“.. he reserves the right to invite foreign military actions in the way independence hero Simon Bolivar hired 5,000 British mercenaries to liberate South America from Spain. “:

Guaido Seeks Pentagon Cooperation In Attempt To Take Power (AP)

Venezuelan opposition leader Juan Guaido on Saturday said he has instructed his political envoy in Washington to immediately open relations with the US military, in an attempt to put more pressure on President Nicolás Maduro to resign. Guiado said he had asked Carlos Vecchio, who the US recognizes as ambassador, to open “direct communications” toward possible military “coordination”. The remarks, at the end of a rally, were Guaido’s strongest public plea yet for greater US involvement in the country’s fast-escalating crisis. While Guaido has repeatedly echoed comments from the Trump administration that “all options” for removing Maduro are on the table, few in the US or Venezuelan opposition view military action as likely. Nor has the White House indicated it is seriously considering such a move.


[Guaido] announced on Saturday a forthcoming meeting with US military officials and said new actions will seek to “achieve the necessary pressure” to put an end to the Bolivarian revolution launched 20 years ago by the late socialist president Hugo Chávez. Guaido has said that as Venezuela’s rightful leader he reserves the right to invite foreign military actions in the way independence hero Simon Bolivar hired 5,000 British mercenaries to liberate South America from Spain. He says any such help should be considered “cooperation” instead of intervention, something he has accused Maduro of allowing in the form of military and intelligence support from Cuba and Russia. [..] Noticeably diminished crowds at opposition protests reflect demoralization that has permeated Guaido’s supporters after he led a failed military uprising on 30 April. In previous months, thousands heeded his calls to protest. On Saturday, a modest crowd of several hundred gathered in Caracas.

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Lock ’em up.

Boeing Altered Key Switches In 737 MAX Cockpit (ST)

In the middle of Boeing 737 cockpits, sitting between the pilot seats, are two toggle switches that can immediately shut off power to the systems that control the angle of the plane’s horizontal tail. Those switches are critical in the event a malfunction causes movements that the pilots don’t want. And Boeing sees the toggles as a vital backstop to a new safety system on the 737 MAX – the Maneuvering Characteristics Augmentation System (MCAS) – which is suspected of repeatedly moving the horizontal tails on the Lion Air and Ethiopian Airlines flights that crashed and killed a total of 346 people. But as Boeing was transitioning from its 737 NG model to the 737 MAX, the company altered the labeling and the purpose of those two switches.

The functionality of the switches became more restrictive on the MAX than on previous models, closing out an option that could conceivably have helped the pilots in the Ethiopian Airlines flight regain control. Boeing declined to detail the specific functionality of the two switches. But after obtaining and reviewing flight manual documents, The Seattle Times found that the left switch on the 737 NG model is capable of deactivating the buttons on the yoke that pilots regularly press with their thumb to control the horizontal stabilizer. The right switch on the 737 NG was labeled “AUTO PILOT” and is capable of deactivating just the automated controls of the stabilizer. On the newer 737 MAX, according to documents reviewed by The Times, those two switches were changed to perform the same function – flipping either one of them would turn off all electric controls of the stabilizer.

That means there is no longer an option to turn off automated functions – such as MCAS – without also turning off the thumb buttons the pilots would normally use to control the stabilizer. Peter Lemme, a former Boeing flight-controls engineer who has been closely scrutinizing the MAX design and first raised questions about the switches on his blog, said he doesn’t understand why Boeing abandoned the old setup. He said if the company had maintained the switch design from the 737 NG, Boeing could have instructed pilots after the Lion Air crash last year to simply flip the “AUTO PILOT” switch to deactivate MCAS and continue flying with the normal trim buttons on the control wheel.

He said that would have saved the Ethiopian Airlines plane and the 157 people on board. “There’s no doubt in my mind that they would have been fine,” Lemme said.

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“..authorities have made clear to his visitors that, if they speak with the media about the conditions of Assange’s imprisonment, those conditions will only worsen.”

Assange’s Prison Conditions (Press Project)

ThePressProject has obtained exclusive information about Julian Assange’s prison conditions. According to that information, Assange appeared in court without having been granted prior counsel from an attorney. He has access to one book, the Bible, and is not permitted access to writing materials. He is being held in solitary confinement 23 hours a day and his visitors have been made aware that conditions will worsen if they are publicized. Assange has been held at Belmarsh Prison, a Category A (i.e. high security) facility since April 11.

Both Assange’s imprisonment at Belmarsh and his 50-week sentence have been condemned in a statement issued by the UN Working Group on Arbitrary Detention, which denounced the “disproportionate treatment imposed on Mr. Assange” and claimed that his “treatment appears to contravene the principles of necessity and proportionality envisaged by the human rights standards.” Following a visit to Assange in Belmarsh earlier this week, UN Special Rapporteur on torture Nils Melzer also expressed concerns that his rights were being violated. Assange is permitted one hour a day outside of solitary confinement, during which he is allowed to bathe, walk, and use a telephone. At this moment the attention of the international community is upon him, with calls being issued by the United Nations and expressions of support coming from all over the world.

Nevertheless, Assange was permitted to appear in court without prior counsel from an attorney; currently, his meetings with a lawyer are limited to three hours per week. Not only is he cut off from communication with the outside world, he is also not allowed access to books other than the Bible. Because he is not granted access to writing materials, he keeps notes in the margins of that Bible. Again, authorities have made clear to his visitors that, if they speak with the media about the conditions of Assange’s imprisonment, those conditions will only worsen. It is clear that, in this case of such an intense struggle against so unequal an opponent and with extradition to the United States a real possibility, the provision of a fair trial and access to adequate legal defense are a matter of life and death for the imprisoned Assange.

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I see a headline like this, I immediately think: obesity. But there’s more tragedy behind this.

American Mom Today 50% More Likely To Die In Childbirth Than Her Own Mother (AP)

Pregnancy-related deaths are rising in the United States and the main risk factor is being black, according to new reports that highlight racial disparities in care during and after childbirth. Black women, along with Native Americans and Alaska natives, are three times more likely to die before, during or after having a baby, and more than half of these deaths are preventable, Tuesday’s report from the Centers for Disease Control and Prevention concludes. Although these deaths are rare — about 700 a year — they have been rising for decades. “An American mom today is 50% more likely to die in childbirth than her own mother was,” said Dr. Neel Shah, a Harvard Medical School obstetrician.


Separately, the American College of Obstetricians and Gynecologists released new guidelines saying being black is the greatest risk factor for these deaths. The guidelines say women should have a comprehensive heart-risk evaluation 12 weeks after delivery, but up to 40% of women don’t return for that visit and payment issues may be one reason. Bleeding and infections used to cause most pregnancy-related deaths, but heart-related problems do now. The CDC report found that about one third of maternal deaths happened during pregnancy, a third were during or within a week of birth, and the rest were up to a year later. Globally, maternal mortality fell about 44% between 1990 and 2015, according to the World Health Organization. But the U.S. is out of step: Moms die in about 17 out of every 100,000 U.S. births each year, up from 12 per 100,000 a quarter century ago.

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May 052019
 


Giovanni Bellini The transfiguration c1490

 

Pelosi: Trump Could Contest 2020 Election Results – Be Prepared (Carter)
Joe Biden Says He ‘Doesn’t Have Time’ To Lay Out His Healthcare Plan (Ind.)
Trump Criticizes Social Media Bans Of Right-Wing Extremists (PA)
Trump Fires Off Tweetstorm on Social Media Censorship of Conservatives (GP)
Orwellian Cloud Hovers Over Russiagate (McGovern)
Fed To Give Banks A $36 Billion Taxpayer-Funded Subsidy (Middleton)
May Urges Corbyn To Agree A Brexit Deal (R.)
Anger Grows At May-Corbyn Bid To Stitch Up Brexit Deal (G.)
Austerity, Not ‘Failure’ Of Brexit, Behind Tories’ Election Wipeout (G.)
American Farmers Go Bankrupt (ZH)
US Trucking Skids into Downturn after Phenomenal Boom (WS)
Urban Greening Can Save Species, Cool Warming Cities, Make Us Happy (Conv.)

 

 

The Democrats, as personified by Pelosi, Schumer, Hillary, Biden etc., have no identity other than being against everything Trump. There are people in the party who do have ideas and an identity, like Tulsi Gabbard, AOC, and I’m not saying they’re all great ideas, but at least they have some. But they’re being sidelined.

And it’s of course funny to see Pelosi “pre-accusing” Trump of doing what she has done for 2+ years now. Accuse your opponent of what you yourself have done. Classic.

Pelosi: Trump Could Contest 2020 Election Results – Be Prepared (Carter)

In a New York Times interview on Saturday, Nancy Pelosi (D-Cal), shared her concerned that President Trump would not voluntarily step down unless Democrats win by a “big” enough margin in 2020. The Democratic Speaker of the House of Representative, expressed her concern over a possible scenario where Trump would not accept the election results if he were to lose re-election by a slim margin, the NY Times reported. “We have to inoculate against that, we have to be prepared for that,” Pelosi told the newspaper Wednesday.


“If we win by four seats, by a thousand votes each, he’s not going to respect the election,” said Ms. Pelosi, recalling her thinking in the run-up to the 2018 elections. “He would poison the public mind. He would challenge each of the races; he would say you can’t seat these people,” she added. “We had to win. Imagine if we hadn’t won — oh, don’t even imagine. So, as we go forward, we have to have the same approach.” In recent weeks Ms. Pelosi has told associates that she does not automatically trust the president to respect the results of any election short of an overwhelming defeat.

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Biden literally has nothing at all. Other than scolding Trump.

Joe Biden Says He ‘Doesn’t Have Time’ To Lay Out His Healthcare Plan (Ind.)

As Joe Biden storms through Iowa and prepares for his first visit as a presidential candidate in South Carolina, the Democratic front-runner has said he doesn’t “have the time” to lay out the details of his healthcare plan. “I don’t have time; I don’t want to keep you standing any longer,” Mr Biden said recently in Iowa City, declining to lay out his vision for America’s healthcare future to the assembled crowd, according to POLITICO. Likewise Mr Biden has been less than exhaustive when it comes to his other plans, be it foreign policy, or how to tackle climate change. The approach — one in which the former vice president has focused on the values needed in an American president, instead of on specifics of policy — stands in contrast to some of his stiffest competition from fellow Democrats hoping to shake up Democratic politics as we know it.


For months now, his closest competitor in the polls, Bernie Sanders, has been plugging his universal healthcare plan on the campaign trail, which he has dubbed Medicare for All. It’s a policy the Vermont senator has introduced repeatedly in Congress, and ran on in 2016, too. But Mr Sanders isn’t alone in pushing policy in the race. Elizabeth Warren has become known for doing so, offering up plans on issues ranging from healthcare – increase consumer subsidies, force insurers to accept tougher rules, and make insurance cheaper in the US — to improving accountability for private companies in charge of military housing.

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Two different takes on the same topic. First, the Press Association, which labels Paul Joseph Watson and James Woods as “Right-Wing Extremists”. A bit much, perhaps? Other labels I see flash by are far-right, alt-right, extremist conservatives. Isn’t it the labeling itself that is extremist?

Trump Criticizes Social Media Bans Of Right-Wing Extremists (PA)

US president Donald Trump has criticised social media companies after Facebook banned a number of extremist figures and has declared he was “monitoring and watching, closely!!” Mr Trump, who tweeted and retweeted complaints on Friday and Saturday, said he would “monitor the censorship of AMERICAN CITIZENS on social media platforms”. He has previously claimed social media companies are biased against conservatives, something the companies have rejected as untrue. His comments came after Facebook this week banned Louis Farrakhan, Alex Jones and other extremists, saying they violated its ban on “dangerous individuals”.


The company also removed right-wing personalities Paul Nehlen, Milo Yiannopoulos, Paul Joseph Watson and Laura Loomer, along with Mr Jones’s site, Infowars, which often posts conspiracy theories. The latest bans apply to Facebook’s main service and to Instagram, and extend to fan pages and other related accounts. Facebook’s move signalled new effort by the social media giant to remove people and groups promoting objectionable material such as hate, racism and anti-Semitism. The company said it has “always banned” people or groups that proclaim a violent or hateful mission or are engaged in acts of hate or violence, regardless of political ideology. On Twitter, Mr Trump cited a number of individuals he said were being unfairly treated by social media companies, including Mr Watson and actor James Woods. He insisted it was “getting worse and worse for Conservatives on social media!”

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But here’s how Cristina Laila at Gateway Pundit, the site known for Cassandra Fairbanks’ reporting on Julian Assange, phrases the issue. Whole different vocabulary.

Still, there’s a much bigger issue here. As I wrote in the comments the other day: What Facebook and Google are doing is very dangerous for the fabric of society. They’re turning us into China. It’s equal to saying: you cannot have a car, or gas, or a phone, a home. Because you grow a beard, or you have a crappy old car, or whatever.

Or it’s like saying you cannot drive on a certain road, maybe that’s a better example. At some point infrastructure must be available to everyone. You can’t say: this is private, go build your own road, or put up your own telephone poles, because your skin is black and we don’t like that around here.

“Facebook is a private company” is dead before you hit the water (for the same reason as AT&T). Problem is, no politician wants to burn their hands on the issue, which they don’t understand to begin with, until it’s too late. It’s much easier to say: look over there, those guys don’t do anything either.”

So, should Facebook be able to throw people out that haven’t been accused of anything criminal?

Trump Fires Off Tweetstorm on Social Media Censorship of Conservatives (GP)

The tech tyrants at Facebook went into overdrive this week and banned Milo Yiannopoulos, Laura Loomer, Paul Joseph Watson and Alex Jones — without any explanation, the conservative journalists were labeled “dangerous” by Facebook. President Trump fired off a tweetstorm Friday evening on the social media censorship of conservatives and named James Woods and Paul Joseph Watson. “I am continuing to monitor the censorship of AMERICAN CITIZENS on social media platforms. This is the United States of America — and we have what’s known as FREEDOM OF SPEECH! We are monitoring and watching, closely!!” Trump tweeted. “We’re looking into it,” Trump said as he defended his friends Diamond and Silk.

“So surprised to see Conservative thinkers like James Woods banned from Twitter, and Paul Watson banned from Facebook!” Trump said linking to a Breitbart article on Twitter’s silencing of James Woods. Paul Joseph Watson works for Infowars and has been employed by Alex Jones for several years. On Thursday Paul Joseph Watson was banned from Facebook for being associated with Infowars and Alex Jones. Paul Joseph Watson has NEVER broken Facebook rules… But he associates with Alex Jones. Facebook is now banning anyone who is linked to Infowars or has shared too many stories from the conservative Infowars page. But it’s even worse… It is now a violation of Facebook policy to speak positively ANYWHERE about people they don’t like.

Twitter also banned conservative actor James Woods last weekend for paraphrasing American essayist, poet and philosopher Ralph Waldo Emerson, for “abusive behavior.” James Woods tweeted, “If you try to kill the King, you better not miss.” #HangThemAll – similar to a quote from an essay Emerson wrote on Plato:“When you strike at a king, you must kill him.”

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If Americans were interested in the truth, they’d insist on their politicians and media and intelligence talking to the VIPS and Julian Assange. The fact that they haven’t, tells you all you need to know.

Orwellian Cloud Hovers Over Russiagate (McGovern)

George Orwell would have been in stitches Wednesday watching Attorney General William Barr and members of the Senate Judiciary Committee spar on Russia-gate. The hearing had the hallmarks of the intentionally or naively blind leading the blind with political shamelessness. From time to time the discussion turned to the absence of a legal “predicate” to investigate President Donald Trump for colluding with Russia. That is, of course, important; and we can expect to hear a lot more about that in coming months. More important: what remains unacknowledged is the absence of an evidence-based major premise that should have been in place to anchor the rhetoric and accusations about Russia-gate over the past three years. With a lack of evidence sufficient to support a major premise, any syllogism falls of its own weight.


The major premise that Russia hacked into the Democratic National Committee and gave WikiLeaks highly embarrassing emails cannot bear close scrutiny. Yes, former CIA Director John Brennan has told Congress he does not “do evidence.” In the same odd vein, Brennan’s former FBI counterpart James Comey chose not to “do evidence” when he failed to seize and inspect the DNC computers that a contractor-of-ill-repute working for the DNC claimed were hacked by Russia. Call us old fashioned, but we Veteran Intelligence Professionals for Sanity (VIPS) still “do evidence” — and, in the case at hand, forensic investigation. For those who “can handle the truth,” the two former NSA technical directors in VIPS can readily explain how the DNC emails were not hacked — by Russia or anyone else — but rather were copied and leaked by someone with physical access to the DNC computers.

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The Fed is a socialist organization.

Fed To Give Banks A $36 Billion Taxpayer-Funded Subsidy (Middleton)

Before 2009, the Fed did not pay interest on banks’ excess reserves held at the Fed. This practice was introduced as a taxpayer-funded subsidy to the banks during the crisis (taxpayer-funded because the Fed turns over any profit at the end of the year to the Treasury). After beginning this practice, the Fed’s chief trader, Simon Potter, realized it could be used to raise interest rates without expelling excess reserves from the Fed, by sucking liquidity out of the short-term markets. In fall 2015, it began raising the interest rate on excess reserves, with the anticipated effect. At a current rate of about $36 billion a year, this is a cost to the Treasury that is indefensible. This amount is about half the budget for food stamps, for example, which politicians want to cut. There is no provision for these funds ever to be paid back. It is welfare for the bankers.

If the banks had been required to take excess reserves back onto their books it would have required financial disclosure of their quality, which is probably toxic for many. However, with the Financial Accounting Standards Board recently promulgating Financial Accounting Statements 56 and, previously, 157, the “extend and pretend” statement, it would seem they feel less and less need for financial disclosure of any kind. FAS 56 states that the government does not have to disclose what it spends taxpayers’ money on because of national security concerns.

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Lose big and do a deal. It would be voted down.

May Urges Corbyn To Agree A Brexit Deal (R.)

British Prime Minister Theresa May has stepped up calls on Labour Party leader Jeremy Corbyn to agree a cross-party deal to leave the European Union, following poor results for both parties in local elections on Thursday. May’s Conservatives lost more than a thousand seats on English local councils that were up for re-election, and Labour – which would typically aim to gain hundreds of seats in a mid-term vote – instead lost 81. Both parties have been locked in talks for the past few weeks to try to broker a Brexit deal that can get a majority in Parliament, after May’s minority government suffered three heavy defeats on her preferred deal earlier this year.

Senior Conservatives said on Saturday there was an increased need for compromise after the local election results, and the leader of the Scottish branch of the Conservative Party said a deal with Labour could be done within days. May added her voice to these calls in an essay published in a Sunday newspaper. “To the Leader of the Opposition I say this: Let’s listen to what the voters said in the local elections and put our differences aside for a moment. Let’s do a deal,” she wrote in the Mail on Sunday. The Sunday Times reported that the Conservatives would offer new concessions to Labour when talks restart on Tuesday, including a temporary customs union with the European Union, which would last until a national election due in June 2022.

“At that point Labour could use their manifesto to argue for a softer Brexit if they wanted to and a new Conservative prime minister could argue for a harder Brexit,” a source cited by the Sunday Times said.

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There is no solution. the sooner everyone understands that the better. Even a national government is now out of the question.

Anger Grows At May-Corbyn Bid To Stitch Up Brexit Deal (G.)

Last-ditch efforts by Theresa May and Jeremy Corbyn to strike a compromise on Brexit looked doomed on Saturday as the party leaders faced mounting revolts from their own MPs and activists. Following Thursday’s local elections, in which both the Conservatives and Labour were punished severely by voters for failing to break the political deadlock, May and Corbyn have insisted their parties must now urgently agree a way forward in cross-party talks which will resume on Tuesday. On Saturday the prime minister reiterated her appeal, saying: “We have to find a way to break the deadlock. I believe the results of the local elections give fresh urgency to this.”

But opposition MPs and Tory Brexiters warned any deal the leadership teams stitch up behind the scenes would face inevitable defeat in parliament and cause more acrimony in the parties. The Observer can reveal that 104 opposition MPs, mainly from Labour but also SNP, Change UK, Green and Plaid Cymru, have written to May and Corbyn insisting they will not back a “Westminster stitch-up” unless there is a firm guarantee that any deal is then put to a confirmatory referendum. The MPs say: “The very worst thing we could do at this time is a Westminster stitch-up whether over the PM’s deal or another deal. This risks alienating both those who voted leave in 2016 and those who voted remain.”

They say that, “whatever the deal” is, it must be the subject of another referendum so voters can have the “final say”. Separately, senior Tory MPs insisted that any deal struck with Labour that involved anything close to a customs union – Corbyn’s central demand in the talks – would be rejected by more than 100 of the party’s MPs, who would see it as a betrayal of May’s promises on Brexit.

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No, both.

Austerity, Not ‘Failure’ Of Brexit, Behind Tories’ Election Wipeout (G.)

In my book Mr Osborne’s Economic Experiment (2015), I pointed out that the “age of austerity” experienced during the post-1945 Attlee government was unavoidable as a debilitated UK adapted from a wartime economy to peacetime. Resources were strictly limited, and production had to be channelled away from armaments towards the normal needs of the population. Spending power was restricted because goods and food were in short supply. The austerity policy imposed by the Cameron-Osborne administration in 2010-15 – in coalition, let us not forget, with the Lib Dems – was a policy choice. George Osborne, in particular, seized the opportunity of the financial crisis of 2007-09 to cut back on public spending, or at least restrain its rate of growth.


The most obvious victims were local authorities and the electors they serve. Cuts varying between 30% and 40% were imposed on central government grants to local authorities, and the consequences were cumulative. Hardly a day goes by without sad reports of the impact the cuts are having on public services, one of the most recent being the way teachers in overstretched state schools are having to dip into their own pockets to provide textbooks. There are countless other examples. We were told by Theresa May and Philip Hammond, the chancellor, that austerity was coming to an end. But there is precious little sign of it. Which brings us back – I know you have been waiting for it – to the way that Brexit would compound the deleterious effects of austerity, a conclusion reached by every forecast I have examined.

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Big Ag wants it all. But YOU can still go look for a farmers’ market.

American Farmers Go Bankrupt (ZH)

The collapse of multi-generational family farms has sent bankruptcies in the Midwest to ten-year highs. “Bankruptcies in three regions covering major farm states last year rose to the highest level in at least 10 years. The Seventh Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, had double the bankruptcies in 2018 compared with 2008. In the Eighth Circuit, which includes states from North Dakota to Arkansas, bankruptcies swelled 96%. The 10th Circuit, which covers Kansas and other states, last year had 59% more bankruptcies than a decade earlier,” reported WSJ. Steffes Group, a top auction firm in the upper Midwest, has seen auction activity rise 40% in 2019. “Up until now, there wasn’t a lot of motivation to exit farming,” said auctioneer Scott Steffes. “Now, what I’m hearing from folks is, ‘It’s no longer fun to farm.’”

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There are far too many trucks anyway.

US Trucking Skids into Downturn after Phenomenal Boom (WS)

Orders for Class-8 trucks – the heavy trucks that haul consumer goods, equipment, commodities, and supplies across the US to feed the goods-based economy – plunged 52% in April compared to April last year, to 16,400 orders, according to FTR Transportation Intelligence on Friday. It was the lowest April since 2016 when the industry cycled through its last transportation recession. This comes after orders had already plunged 67% year-over-year in March, 58% in February and January, and 43% in December. The collapse in orders is on the scale of the last transportation recession in 2015 and 2016. The chart shows the percent change of orders for each month compared to a year earlier:

The industry is very cyclical with big swings in both directions. Trucking companies get exuberant when capacity tightens and freight rates shoot up as they did in late 2017 and 2018, and they’re inclined to order when business is booming, but it takes a while to get these trucks built, and order backlogs at truck manufacturers piled up to reach close a year at the peak in 2018. Fear of not getting the equipment when they need it can cause industry-wide bouts of over-ordering at the peak of the cycle, which was summer 2018. But as capacity rises, and the cyclical freight business backs off from its blistering growth phase and ticks down a little as it has been since late 2018, trucking companies adjust by reducing their orders, and when push comes to shove, if they can still do it, by cancelling their orders. And that’s what is happening here.

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I think perhaps everyone intuitively understands how to re-design cities. Cars must go first.

Urban Greening Can Save Species, Cool Warming Cities, Make Us Happy (Conv.)

The current climate and ecological crisis demands a radical redesign of how we live and organise our societies. Yet these urgent changes, though complex, are far from impossible. Some of them are simple, beautiful, and beneficial to all. By greening our cities with street trees, urban parks, and community and rooftop gardens, we can keep ourselves cool amid rising temperatures, reverse the steady erosion of the rich tapestry of life on Earth, and foster happiness and social connection in the process. It is widely known that greenery in urban spaces helps improve city microclimates.

Thanks to heat generated by traffic and industrial activity, as well as the spread of heat-trapping concrete buildings that have steadily replaced plant life, urban air temperature is often higher than in rural environments. Hotter cities compel urban denizens to opt for air conditioners in order to stay cool, which further strains energy demands and worsens the urban heat island effect. Plants can help cool cities through the water that evaporates from their leaves when exposed to the sun’s rays, and by shading surfaces that otherwise might have absorbed heat. Research has found that on a sunny day, a single healthy tree can have the cooling power of more than ten air-conditioning units.

Plants also help keep harmful pollutants such as microscopic particulate matter at bay through a complex process known as dry deposition, whereby particles penetrate and become trapped in the wax or cuticles of leaves. Although banning or at least restricting vehicle use in city centres is crucial, mass greening can further reduce pollution and keep cities cool in the increasingly scorching summers that lie ahead.

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Millions long for immortality who don’t know what to do with themselves on a rainy Sunday afternoon
– Susan Ertz

 

 

May 042019
 
 May 4, 2019  Posted by at 8:42 am Finance Tagged with: , , , , , , , , , , ,  


Pablo Picasso Girl with a Mandolin (Fanny Tellier) 1910

 

UN Calls For Julian Assange’s Release From UK High-Security Jail
Barr Launches Wide-Ranging Probe Into 2016 FBI Spying (ZH)
Deeper Into the Dark (Jim Kunstler)
Mueller’s Own Mysteries (Stephen F. Cohen)
Obama On “Scripted, Soulless” Clinton Campaign, “Cartoon Character” Trump (ZH)
UK Tories Lose More Than 1,300 Councillors (BBC)
New Poll Finds 61% Would Back Remain In A Second Brexit Referendum (TNE)
Two Medicare-For-All Bills; One Is a Lot Better Than the Other (NC)
French Minister Rows Back On Claim May Day Protesters ‘Attacked’ Hospital (EN)
Africa’s Forests Are Disappearing At An Unprecedented Rate (M&G)
Biodiversity Crisis Is About To Put Humanity At Risk – UN (G.) >
Lost World: Nature At Death’s Door (AFP)

 

 

UK doesn’t care one bit about the UN. So throw them out. Tell them they can come back once they have a functioning legal system. “Independent judges” my posterior.

UN Calls For Julian Assange’s Release From UK High-Security Jail

UN experts have called for Julian Assange to be released from prison and criticised the British government for breaching his human rights. The WikiLeaks publisher was jailed for 50 weeks on Wednesday for breaking bail conditions imposed seven years earlier by seeking asylum in the Ecuadorian embassy in London. The UN working group on arbitrary detention (WGAD) said it was deeply concerned by the “disproportionate sentence” imposed on Assange for violating the terms of his bail, which it described as a “minor violation”. The group has twice previously called for Assange to be freed, after it judged his confinement to the Ecuadorian embassy by the threat of arrest should he leave amounted to arbitrary detention.

“The working group regrets that the government has not complied with its opinion and has now furthered the arbitrary deprivation of liberty of Mr Assange,” it said in a statement on Friday. “It is worth recalling that the detention and the subsequent bail of Mr Assange in the UK were connected to preliminary investigations initiated in 2010 by a prosecutor in Sweden. It is equally worth noting that that prosecutor did not press any charges against Mr Assange and that in 2017, after interviewing him in the Ecuadorian embassy in London, she discontinued investigations and brought an end to the case. “The working group is further concerned that Mr Assange has been detained since 11 April 2019 in Belmarsh prison, a high-security prison, as if he were convicted for a serious criminal offence. This treatment appears to contravene the principles of necessity and proportionality envisaged by the human rights standards.

“The WGAD reiterates its recommendation to the government of the United Kingdom, as expressed in its opinion 54/2015, and its 21 December 2018 statement, that the right of Mr Assange to personal liberty should be restored.” A government spokesperson said: “The UK has a close working relationship with UN bodies and is committed to upholding the rule of law. Sentencing is a matter for our independent judges, who take into account the full facts of each case, and the law provides those convicted with a right of appeal.” Assange appeared in court on Thursday via video link from Belmarsh as he began a legal fight against extradition to the US, where he is wanted on charges relating to the publication of secret US files leaked by Chelsea Manning, a US intelligence analyst who was subsequently jailed.

Read more …

Plenty people with plenty reasons to try and get Barr impeached. But on what grounds?

Barr Launches Wide-Ranging Probe Into 2016 FBI Spying (ZH)

Attorney General William Barr told the Senate Judiciary Panel this week that he has assembled a team at the Justice Department to probe whether the spying conducted by the FBI against the Trump campaign in 2016 was improper, reports Bloomberg. Barr suggested that he would focus on former senior leaders at the FBI and Justice Department. “To the extent there was overreach, what we have to be concerned about is a few people at the top getting it into their heads that they know better than the American people,” said Barr. Barr will also review whether the infamous Steele dossier – a collection of salacious and unverified claims against Donald Trump, assembled by a former British spy and paid for by the Clinton campaign – was fabricated by the Russian government to trick the FBI and other US agencies.

(Will Barr investigate whether Steele made the whole thing up for his client, Fusion GPS?) “We now know that he was being falsely accused,” Barr said of Trump. “We have to stop using the criminal justice process as a political weapon.” Mueller’s report didn’t say there were false accusations against Trump. It said the evidence of cooperation between the campaign and Russia “was not sufficient to support criminal charges.” Investigators were unable to get a complete picture of the activities of some relevant people, the special counsel found.

Although Barr’s review has only begun, it’s helping to fuel a narrative long embraced by Trump and some of his Republican supporters: that the Russia investigation was politically motivated and concocted from false allegations in order to spy on Trump’s campaign and ultimately undermine his presidency. -Bloomberg. As Bloomberg notes, Barr’s review could receive a boost by a Thursday New York Times article acknowledging that the FBI sent a ‘honeypot’ spy to London in 2016 to pose as a research assistant and gather intelligence from Trump foreign policy adviser George Papadopoulos over possible Trump campaign links to Russia.

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“..beyond even the wicked Hillary Clinton to the sainted former president Obama..” “..Mr. Obama’s CIA chief, John Brennan, his NSA Director James Clapper, a baker’s dozen of former Obama top FBI and DOJ officials, including former AG Loretta Lynch, and sundry additional players..”

Deeper Into the Dark (Jim Kunstler)

Mr. Barr’s stolid demeanor during the Wednesday session was a refreshing reminder of what it means to be not insane in the long-running lunatic degeneration of national politics. Of course, the reason for the continued hysteria among Democrats is that the two-year solemn inquiry by the august former FBI Director, Mr. Mueller, is being revealed daily as a mendacious fraud with criminal overtones running clear through Democratic ranks beyond even the wicked Hillary Clinton to the sainted former president Obama, who may have supervised his party’s collusion with foreign officials to interfere in the 2016 election. Mr. Barr’s hints that he intends to tip this dumpster of political subterfuge, to find out what was at the bottom of it, is being taken as a death threat to the Democratic Party, as well it should be.


A lot of familiar names and faces will be rolling out of that dumpster into the grand juries and federal courtrooms just as the big pack of White House aspirants jets around the primary states as though 2020 might be anything like a normal election. In short and in effect, the Democratic Party itself is headed to trial on a vector that takes it straight into November next year. How do you imagine it will look to voters when Mr. Obama’s CIA chief, John Brennan, his NSA Director James Clapper, a baker’s dozen of former Obama top FBI and DOJ officials, including former AG Loretta Lynch, and sundry additional players in the great game of RussiaGate Gotcha end up ‘splainin’ their guts out to a whole different cast of federal prosecutors?

It’s hardly out of the question that Barack Obama himself and Mrs. Clinton may face charges in all this mischief and depravity. It’s surely true that the public is sick of the RussiaGate spectacle. (I know readers of this blog complain about it.) But it’s no exaggeration to say that this is the worst and most tangled scandal that the US government has ever seen, and that failing to resolve it successfully really is an existential threat to the project of being a republic. I was a young newspaper reporter during Watergate and that was like a game of animal lotto compared to this garbage barge of malfeasance.


[..] It seems more than merely possible that the entire Mueller Investigation was a ruse from the start to conceal all this nefarious activity. It is even more astounding to see exactly what a lame document the Mueller Report turned out to be. It was such a dud that even the Democratic senators and congresspersons who are complaining the loudest have not bothered to visit the special parlor set up at the Department of Justice for their convenience to read a much more lightly redacted edition of the report.

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“Mueller even brands American pro-détente views—as Presidents Eisenhower, Nixon, and Reagan held in the 20th century—as “pro-Russia foreign policy positions..”

Mueller’s Own Mysteries (Stephen F. Cohen)

• It has occasionally been suggested that Russiagate was originated by high-level US officials who disliked candidate Trump’s pledge to “cooperate with Russia.” This suspicion remains unproven, but throughout, Mueller repeatedly attributes to Trump campaign members and Russians who interacted in 2016, potentially in sinister or even criminal ways, a desire for “improved U.S.-Russian relations,” for “bringing the end of the new Cold War,” for a “new beginning with Russia.” Even Russian President Vladimir Putin is reported to have wanted “reconciliation between the United States and Russia.”

The result is, of course, to discredit America’s once-mainstream advocacy of détente. Mueller even brands American pro-détente views—as Presidents Eisenhower, Nixon, and Reagan held in the 20th century—as “pro-Russia foreign policy positions”. Does this mean that Americans who hold pro-détente views today, as I and quite a few others do, are to be investigated for their “contacts” with Russians in pursuit of better relations? Mueller seems to say nothing to offset this implication, which has already adversely affected a few Americans mentioned and not mentioned in his report.

• Nor does Mueller consider alternative scenarios and explanations, as any good historical or judicial investigation must do. For example, he accepts uncritically the Clinton/Democratic National Committee allegation that Russian agents hacked and disseminated their emails in 2016. Again, maybe so, but why did he not do his own forensic examination or even mention the alternative finding by VIPS that they were stolen and leaked by an insider? Why did he not question Julian Assange, who claimed to know how and through whom the emails reached WikiLeaks? And how to explain Mueller’s minimal interest in the shadowy professor Joseph Mifsud, who helped entrap George Papadopoulos in London? Mueller reports that Mifsud “had connections to Russia” (p. 5), although a simple Google search suggests that Mifsud was indeed an “agent” but not a Russian one, as widely alleged in media accounts.

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Obama’s all about Obama.

Obama On “Scripted, Soulless” Clinton Campaign, “Cartoon Character” Trump (ZH)

[..] as Obama saw it, the “real blame” for Clinton’s loss “lay squarely with Clinton” – despite her many well-documented attempts to make every conceivable excuse, from blaming Bernie Sanders and his misogynistic “Bernie Bros” to misogynistic Trump supporters. But as Obama vented, nobody forced Clinton to take money from Goldman Sachs, or set up an illicit private email server at her house in Chappaqua. In a stinging passage Baker writes: ‘To Obama and his team, however, the real blame lay squarely with Clinton. ‘She was the one who could not translate his strong record and healthy economy into a winning message. ‘Never mind that Trump essentially ran the same playbook against Clinton that Obama did eight years earlier, portraying her as a corrupt exemplar of the status quo.

‘She brought many of her troubles on herself. No one forced her to underestimate the danger in the Midwest states of Wisconsin and Michigan. ‘No one forced her to set up a private email server that would come back to haunt her. ‘No one forced her to take hundreds of thousands of dollars from Goldman Sachs and other pillars of Wall Street for speeches. ‘No one forced her to run a scripted, soulless campaign that tested eighty-five slogans before coming up with ‘Stronger Together’. Obama tried to keep his cool in the weeks afterwards and texted his speechwriter Ben Rhodes: ‘There are more stars in the sky than sand on the earth’. But soon he was unable to contain his rage which escalated after he met Trump in the Oval Office.

Baker writes that despite being cordial in public he afterwards summoned Rhodes who told him that Trump ‘peddles in b*******’ Rhodes said: ‘That character has always been part of the American story. You can see it right back to some of the characters in Huckleberry Finn’. Obama replied: ‘Maybe that’s the best we can hope for’.

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Tories lose 1,334 councillors (about 28%), Labour loses 82. Guardian says “heavy lossses for Labour Party”.

LibDems were dead, and nobody likes them today. They win 703 seats only because they’re the only strong anti-Brexit vote.

Comment on Twitter: ”The Guardian headlines talk about “heavy lossses for Labour Party” (-4%) Meanwhile even the Tory #BBC is leading with “Tories lose 1300 councillors” Hhhhhhmmmm … the Guardian really, REALLY does hate #Corbyn !!”

Meanwhile, May doesn’t resign after such a loss, she says: voters want us to finish what we’ve been doing.

She must have turned to the bottle.

UK Tories Lose More Than 1,300 Councillors (BBC)

The Conservatives have lost 1,334 councillors, with Theresa May saying voters wanted the main parties to “get on” with Brexit. Labour also lost 82 seats in the English local elections, in which it had been expected to make gains. But the strongly pro-EU Lib Dems gained 703 seats, with leader Sir Vince Cable calling every vote received “a vote for stopping Brexit”. The Greens and independents also made gains, as UKIP lost seats. All 248 English councils holding elections have now announced their full results.


While the scale of the Conservative election losses is larger than expected, Labour had predicted it would gain seats, having suffered losses the last time these council seats were contested, in 2015. The Green Party has added 194 councillors, while the number of independent councillors has risen by 612. UKIP, which enjoyed large gains in 2015, lost 145 seats. Results from Northern Ireland’s 11 councils are also being announced. No local elections are taking place in Scotland and Wales.

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Far from over. Even if Labour signs up for a May deal, what is their legitimacy at this point?

New Poll Finds 61% Would Back Remain In A Second Brexit Referendum (TNE)

New polling has found that 61% of those who would vote in a second referendum would vote to Remain in the European Union. The YouGov survey for KIS Finance found that between the choice of Theresa May’s Brexit deal or remaining in the EU, 61% of those who confirmed they would vote stated they wanted the UK to stay in the European Union. When a no-deal scenario is added into the mix, 53% of people would vote to Remain, while 34% would vote for no-deal, and just 12% would vote for Theresa May’s deal.


The research also uncovered that 1 in 10 have put off important financial decisions, such as buying their first home, moving house, spending money on home improvements, investing and making major purchases such as a car, until the future of Brexit is clear. In London this figures rises to 1 in 5 who have delayed key financial decisions as a direct result of Brexit. In Wales, 1 in 6 have been affected and in Scotland 1 in 7 have postponed major financial decisions. The polling was carried out days ahead of the local elections, 23rd – 24th April 2019. Further information can be found on the KIS FInance website.

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Bernie needs a rethink.

Two Medicare-For-All Bills; One Is a Lot Better Than the Other (NC)

Two bills that are called “Medicare for all” bills by their supporters have just been introduced in Congress. On February 27, Representative Pramila Jayapal introduced the Medicare For All Act of 2019, HR 1384 , in the House of Representatives. On April 10, Senator Bernie Sanders introduced a bill bearing the same name in the Senate, S 1129. The cost-containment section in Representative Jayapal’s bill will cut health care costs substantially without slashing the incomes of doctors and hospitals. Senator Sanders’ bill cannot do that. In this article, I explain the differences in the cost containment sections of the two bills and call upon Senator Sanders to correct two defects in his bill that minimize its ability to reduce costs.

Defect number one: S 1129 authorizes a new form of insurance company called the “accountable care organization” (ACO). Defect number two: S 1129 fails to authorize budgets for hospitals. Representative Jayapal’s bill, on the other hand, explicitly repeals the federal law authorizing ACOs, and it authorizes budgets for individual hospitals. I write this essay as both a long-time organizer, writer and speaker for a single-payer (the older name for “Medicare for all” system) and a strong supporter of Senator Sanders. Bernie’s enthusiastic support for a “single payer” solution to the American health care crisis has added millions of new supporters to the single-payer movement.

But precisely because he is now the most recognizable face of the single-payer movement, it is extremely important that all of us, whether we’re already in the single-payer movement or we just long for a sane and humane health care system, encourage Bernie to fix the defects in his bill. To explain the two defects in S 1129, I must first explain why a single-payer bill like Representative Jayapal’s will be effective at cutting the high cost of American health care. I begin by explaining the origin and meaning of the “single payer” label. I will then describe the two defects in S 1129 in more detail.

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As soon as you read that Yellow Vests attacked a hospital, you know this is a hoax. Or I hope you do. But I bet the probe that will now follow will stop at looking at evidence of an attack, not at why the government has spread false rumors.

French Minister Rows Back On Claim May Day Protesters ‘Attacked’ Hospital (EN)

Paris’ prosecutor has begun a probe after May Day protesters allegedly entered a famed Paris hospital and tried to force the door to its intensive care unit. But supporters of the “gilets jaunes” (“yellow vests”), who were among demonstrators during a fiery march in the French capital on Wednesday, said they were just seeking refuge from tear gas fired by police. Thirty-two people were in police custody under charges of “gathering to commit degradations or violence,” the prosecutor’s office told Euronews. They were released on Thursday evening as investigations continue, the prosecutor’s office said. France’s Interior Minister Christophe Castaner initially said the hospital was ‘attacked’ by dozens of anti-capitalist militants and black blocks, but by Friday morning he had changed his position.

“I shouldn’t have used the word ‘attack’. The term ‘violent intrusion’ used by the hospital director seems to be more accurate giving the videos on it shared ever since,” admitted Castaner during a press conference. [..] But supporters of the “yellow vest” movement, whose protests have shaken the government of President Emmanuel Macron over the past half year, insisted the demonstrators were merely seeking refuge from tear gas fired by police. The incident came during a hugely tense May Day which saw police clash with hardline protesters on the sidelines of the annual labour union march. The hospital is close to the Place d’Italie where the march ended. Salome Fournet-Fayas, a 26-year-old set designer who was demonstrating on May Day, was at the hospital with other protesters.

She told Euronews that she and other demonstrators were following the official itinerary for the rally when police fired tear gas at them in such quantity that she almost vomited. Fournet-Fayas said that as demonstrators were fleeing tear gas and possible flash ball shots, they noticed that the hospital gates were open. So they entered and quietly waited for things to calm down on the grass, in the hospital courtyard, without going inside the building. Asked whether some violent protesters might have tried to attack the hospital, she replied that “everyone was very calm.” She said she felt “revolted” by the government’s account of the events. “No one tried to attack to attack this hospital,” she assured. “We were just there waiting.”

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Nothing holds more CO2 than rainforests.

Africa’s Forests Are Disappearing At An Unprecedented Rate (M&G)

This week, Liberian activist Alfred Brownell won the prestigious Goldman Environmental prize for his efforts to protect Liberia’s rainforest from the depredations of a multinational palm oil producer. But new research, showing that deforestation in Africa is increasing at an unprecedented rate, suggests the continent needs plenty more Alfred Brownells if it is to have a hope of protecting its trees — and, ultimately, the planet itself. “We are in a war for this planet,” said Brownell from Northeastern University in Boston. He was forced into exile after he formed a public interest law group that used legal means to prevent the exploitation of Liberian rainforests by a Singapore-based palm oil producer.

“It’s not just a struggle to protect remote towns and villages, or just to protect their sacred sites, or just to protect their land and their crops, their way of life, their culture, their religion. It’s also about protecting these important forests in West Africa which are producing oxygen and absorbing carbon and, in essence, making an enormous contribution in the mitigation of climate change,” he said. [..] Because of their age,primary forests contain more carbon than other forests, making them invaluable in the climate-change fight. Losing them is a double blow: not only is all this carbon released into the atmosphere, but the land where the forests used to be no longer sucks carbon from the atmosphere.

The main problem areas are Brazil and Indonesia’s rainforests, which together account for 46%of primary rainforest loss in 2018. But this year researchers discovered a new disturbing development: trees in Africa are disappearing at an unprecedented rate. Three regions in Africa are of particular concern: The first is Ghana and Côte d’Ivoire, which both experienced dramatic losses in primary forest cover between 2017 and 2018 (60% and 26% respectively). Although it is difficult to pinpoint exactly what drove the loss, illegal mining is likely to have played a major role, as are expanding cocoa plantations.

The second is the Democratic Republic of Congo, which is behind only Brazil in terms of the total area of primary forest lost.“In the … Congo, primary forest loss was 38% higher in 2018 than it was from 2011-2017. Madagascar is the third area of concern. It lost 2% of its primary forests in 2018. That is a higher proportion than any other tropical country. GFW attributes this mostly to small-scale forest clearing for agriculture and fuel.

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“..world leaders will agree rescue plans for nature ..” And they will be grossly insufficient and turn into terrible failures.

Biodiversity Crisis Is About To Put Humanity At Risk – UN (G.)

Like its predecessor, the report is a compilation of reams of academic studies, in this case on subjects ranging from ocean plankton and subterranean bacteria to honey bees and Amazonian botany. Following previous findings on the decimation of wildlife, the overview of the state of the world’s nature is expected to provide evidence that the world is facing a sixth wave of extinction. Unlike the past five, this one is human-driven. Mike Barrett, WWF’s executive director of conservation and science, said: “All of our ecosystems are in trouble. This is the most comprehensive report on the state of the environment. It irrefutably confirms that nature is in steep decline.”

Barrett said this posed an environmental emergency for humanity, which is threatened by a triple challenge of climate, nature and food production. “There is no time to despair,” he said. “We should be hopeful that we have a window of opportunity to do something about it over these two years.” The report will sketch out possible future scenarios that will vary depending on the decisions taken by governments, businesses and individuals. The next year and a half is likely to be crucial because world leaders will agree rescue plans for nature and the climate at two big conferences at the end of 2020.

That is when China will host the UN framework convention on biodiversity gathering in Kunming, which will establish new 20-year targets to replace those agreed in Aichi, Japan, in 2010. Soon after, the UN framework convention on climate change will revise Paris agreement commitments at a meeting in either the UK, Italy, Belgium or Turkey.

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Degradation continues to increase.

Lost World: Nature At Death’s Door (AFP)

Earth’s population has doubled in 50 years. Not only are we living longer than ever before, we are also consuming more. Today, humans extract around 60 billion tonnes of resources from Nature each year — a rise of 80 percent in just a few decades. And we are leaving our mark in other ways. Since 1980, manmade greenhouse gas emissions have doubled, adding at least 0.7C to global temperatures. We dump up to 400 million tonnes of heavy metals, toxic sludge and other waste into oceans and rivers each year. The report, compiled from more than 15,000 academic papers and research publications, estimates that 75 percent of land, 40 percent of oceans and 50 percent of rivers “manifest severe impacts of degradation” from human activity.

The document, the first of its kind in 15 years, paints a picture of rife inequality, with richer nations consuming vastly more per capita than poorer ones battling to retain their natural resources. Indeed, per capita demand for materials is four times more in high- than in low-income economies. In Europe and North America, humans now consume several times the recommended intake of meat, sugar and fat for optimal health, while 40 percent of the world’s people lack access even to clean drinking water. The inequality gap is huge and widening: GDP per head is already 50 times larger in wealthy nations than in poor ones. Industrial fishing is destroying our oceans, according to the report. It found that 70,000 industrial fishing vessels operate in at least 55 percent of the world’s high seas.

Nearly three quarters of major marine fish stocks are depleted or exploited to the limit of sustainability, despite efforts from the fishing community to implement quotas and drive down overfishing. On land, the situation looks even bleaker. A third of all land is now given over to agriculture and 75 percent of freshwater resources is dedicated to food production. In all, at least a quarter of all greenhouse gas emissions come from land clearing, crop production and fertilisation, the vast majority of which comes from animal-based food production.


New York Zoo, 1963 “You are looking at the most dangerous animal in the world. It alone of all the animals that ever lived can exterminate (and has) entire species of animals. Now it has the power to wipe out all life on earth.”

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You know I always liked my walking shoes
but you can get a little too fond of the blues
You walk too far, you walk away
Hello sunshine won’t you stay

You know I always loved a lonely town
Those empty streets, no one around

You know I always liked that empty road
No place to be and miles to go
But miles to go is miles away
Hello sunshine won’t you stay

 

 

 

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.

Read more …

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.

Read more …

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 222019
 
 April 22, 2019  Posted by at 9:23 am Finance Tagged with: , , , , , , , , , , , ,  


El Greco La Pietà c1575

 

The Fly in the Mueller Ointment (VIPS)
Holy Week and WikiLeaks (OffG.)
Mueller’s Done, And Dems Should Be Too – Because Trump Is No Nixon (Penn)
NYT: Time To Investigate The FBI, Steele And The ‘Witch Hunters’ (ZH)
CNN Op-Ed Admits “Mueller’s Report Looks Bad For Obama” (ZH)
Zelenskiy Crushes Poroshenko In Ukraine Presidential Election (R.)
“Hollow And Laughable”: Russia’s 120-page Reaction To Mueller Report (ZH)
Chris Hedges on Russiagate & Mueller Report with Aaron Maté (RT)
America: The Triumph of Evil (Paul Craig Roberts)
Boeing Dreamliner Workers Warn Of Defective Manufacturing (ZH)
Theresa May Plans To End Free School Lunches For One Million Children (Ind.)
Indiscriminate Slaughter: The Leaks that Led to the Targeting of Assange (SCL)
Media Condemns Julian Assange For Recklessly Exposing Them (ONION)

 

 

VIPS Blast Mueller Over Refusal To Interview Assange.

Yes, I feel vindicated because yes, the VIPS are saying exactly what I’ve been saying for a long time: Mueller has no evidence of either Assange’s or the Russian government’s involvement in email hacks. If he went to talk to Assange, he would have to prove that involvement. If he doesn’t, he can let the accusation linger.

That is precisely why I said Robert Mueller Is A Coward And A Liar. And Mueller, what a surprise, ignores the VIPS as well, because they, too, would destroy the US intelligence narrative that he made his own.

“The bug in Mueller’s report released on Thursday is that he accepts that the Russian government interfered in the election. Trump should challenge that, says VIPS…”

 

The Fly in the Mueller Ointment (VIPS)

MEMORANDUM FOR: The President

FROM: Veteran Intelligence Professionals for Sanity (VIPS)

SUBJECT: The Fly in the Mueller Ointment

April 16, 2019

Mr. President:

The song has ended but the melody lingers on. The release Thursday of the redacted text of Special Counsel Robert Mueller’s “Report on the Investigation into Russian Interference in the 2016 Presidential Election” nudged the American people a tad closer to the truth on so-called “Russiagate.” But the Mueller report left unscathed the central-but-unproven allegation that the Russian government hacked into the DNC and Podesta emails, gave them to WikiLeaks to publish, and helped you win the election. The thrust will be the same; namely, even if there is a lack of evidence that you colluded with Russian President Vladimir Putin, you have him to thank for becoming president. And that melody will linger on for the rest of your presidency, unless you seize the moment.

Mueller has accepted that central-but-unproven allegation as gospel truth, apparently in the lack of any disinterested, independent forensic work. Following the odd example of his erstwhile colleague, former FBI Director James Comey, Mueller apparently has relied for forensics on a discredited, DNC-hired firm named CrowdStrike, whose credibility is on a par with “pee-tape dossier” compiler Christopher Steele. Like Steele, CrowdStrike was hired and paid by the DNC (through a cutout). We brought the lack of independent forensics to the attention of Attorney General William Barr on March 13 in a Memorandum entitled “Mueller’s Forensic-Free Findings”, but received no reply or acknowledgement.

In that Memorandum we described the results of our own independent, agenda-free forensic investigation led by two former Technical Directors of the NSA, who avoid squishy “assessments,” preferring to base their findings on fundamental principles of science and the scientific method. Our findings remain unchallenged; they reveal gaping holes in CrowdStrike’s conclusions. We do not know if Barr shared our March 13 Memorandum with you. As for taking a public position on the forensics issue, we suspect he is being circumspect in choosing his battles carefully, perhaps deferring until later a rigorous examination of the dubious technical work upon which Mueller seems to have relied.

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(Note to Moreno: it didn’t end well for Judas).

Holy Week and WikiLeaks (OffG.)

I was sent a humourous Birthday card, depicting Jesus holding his mobile phone; his thought bubble reads: “Twelve followers so far. Sweet!”. As a Catholic, one often thinks of historical parallels and what insights into the Human Condition can be gleaned from old stories – looking for parables? It is Holy Week this week, a rapid 7 days in which Christ goes from the celebrity status of Palm Sunday, through to the Last Supper, Agony in the Garden in which he pleads for this chalice to pass his lips, betrayal by Judas, arraigned before the religious courts, and then delivered to the Romans for their judgement.

When Pilate can find no guilt, the crowds are influenced by temple agents to demand his crucifixion. Christ is duly tormented, humiliated and put to very public and agonising death on the cross, but with his last words, he pleads for his tormentors: “Father forgive them, for they know not what they do”. Meanwhile his followers go into hiding, terrified that they will be next. But what has this story got to do with us now? Although the cartoon depiction of Jesus doesn’t look much like Julian Assange, it provoked a thought exercise: imagine being witness to those events 2,000 years ago in Jerusalem. There is something biblical about fleeing into exile for 7 years.


One overarching parallel is the dominance of the Roman Empire akin to that of the American influence and the craven subjugation of the British Establishment – and other territories under Roman/American Rule. Many supporters of Assange have already labelled Lenin Moreno as Judas having sold his soul for 30 pieces of silver. (Note to Moreno: it didn’t end well for Judas). Imagine how the tabloids and MSM would treat Jesus today: “He mixes with lepers and is probably leprous himself”; “What about that long-haired Mary Magdalene who seems overly attentive to his needs?” “His hair looks like he just spent 40 days in the wilderness”. Meanwhile, the alternative media has become the voice in the wilderness, unsettling Herod’s peace of mind.

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“Reps. Jerrold Nadler (D-N.Y.) and Adam Schiff (D-Calif.) are congressmen from safe districts who are nobodies if they have no investigations to launch.”

Mueller’s Done, And Dems Should Be Too – Because Trump Is No Nixon (Penn)

Most people don’t understand what it is to not only be personally investigated for something you didn’t do but also have your friends, family members and associates placed in legal jeopardy over it. Special counsel Robert Mueller’s team systematically targeted the people around the president, squeezing them like lemons, indicting them on mostly process crimes created by the investigation itself. They reviewed everyone’s emails, text messages, phone calls, bank statements — and yet their conclusion on collusion was clear and definitive. It has to be believed. I was there working with former President Clinton in 1998 when he pondered whether to send missiles against Osama bin Laden but was concerned it would be viewed as “wagging the dog.”

We missed bin Laden that day. It was symbolic of how everything in the White House was affected by the Monica Lewinsky investigation; it changed everything we did. And, yes, there was a good bit of cursing then, too. The big difference between today and what happened in 1998 or during the Nixon era is that, at the end of the day, the Mueller investigators found no stained dress, no break-in, no hush money, no enemies list. There never was a crime, and what seemed far-fetched was simply that — this time, a duly elected president was investigated for a crime that never even existed. In fact, evidence is mounting that the investigation itself was launched on phony grounds.


And so, the screaming partisan antics of Democrats in the House are likely to set the Democratic Party back a decade if they do not get a grip on themselves. In partisan unison, with scripted talking points, they keep calling everyone else “partisan.” It simply does not pass the laugh test at this point. But the problem is that Reps. Jerrold Nadler (D-N.Y.) and Adam Schiff (D-Calif.) are congressmen from safe districts who are nobodies if they have no investigations to launch. It’s in the interest of their egos to keep it all going so that they can have daily press availabilities.

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The New York Times in a deparate attempt to look reasonable. After they published tons of articles with headlines such as “Trump Campaign Aides Had Repeated Contacts With Russian Intelligence”.

NYT: Time To Investigate The FBI, Steele And The ‘Witch Hunters’ (ZH)

[..] had Hillary won, as expected, none of this would have seen the light of day. We wouldn’t know that a hyper-partisan FBI had spied on the Trump campaign, as Attorney General William Barr put it during his April 10 Congressional testimony. We wouldn’t know that a Clinton-linked operative, Joseph Mifsud, seeded Trump campaign aide George Papadopoulos with the rumor that Russia had ‘Dirt’ on Hillary Clinton – which would later be coaxed out of Papadopoulos by a Clinton-linked Australian ambassador, Alexander Downer, and that this apparent ‘setup’ would be the genesis of We wouldn’t know about the role of Fusion GPS – the opposition research firm hired by Hillary Clinton’s campaign to commission the Steele dossier.


Fusion is also linked to the infamous Trump Tower meeting, and hired Nellie Ohr – the CIA-linked wife of the DOJ’s then-#4 employee, Bruce Ohr. Nellie fed her husband Bruce intelligence she had gathered against Trump while working for Fusion, according to transcripts of her closed-door Congressional testimony. And if not for reporting by the Daily Caller’s Chuck Ross and others, we wouldn’t know that the FBI sent a longtime spook, Stefan Halper, to infiltrate and spy on the Trump campaign – after the Obama DOJ paid him over $400,000 right before the 2016 US election (out of more than $1 million he received while Obama was president).

According to the New York Times, the tables are turning, starting with the Steele Dossier. T]he release on Thursday of the report by the special counsel, Robert S. Mueller III, underscored what had grown clearer for months — that while many Trump aides had welcomed contacts with the Russians, some of the most sensational claims in the dossier appeared to be false, and others were impossible to prove. Mr. Mueller’s report contained over a dozen passing references to the document’s claims but no overall assessment of why so much did not check out.


Now the dossier — financed by Hillary Clinton’s campaign and the Democratic National Committee, and compiled by the former British intelligence agent Christopher Steele — is likely to face new, possibly harsh scrutiny from multiple inquiries. -NYT. While Congressional Republicans have vowed to investigate, the DOJ’s Inspector General is considering whether the FBI improperly relied on the dossier when they used it to apply for a surveillance warrant on Trump campaign adviser Carter Page. The IG also wants to know about Steele’s sources and whether the FBI disclosed any doubts as to the veracity of the dossier. Attorney General Barr, meanwhile, said he will review the FBI’s conduct in the Russia investigation after saying the agency spied on the Trump campaign.

Read more …

New York Times, CNN, they all try to walk this back. Don’t let them.

CNN Op-Ed Admits “Mueller’s Report Looks Bad For Obama” (ZH)

The ‘powers-that-be’ at CNN – ground zero for the Trump’s-a-traitorous-Putin-Puppet propaganda – have allowed the publication of an op-ed amid their hallowed pages that casts blame at the anointed one. CNN contributor Scott Jennings – soon to be exiled from every social media platform we suspect – dared to point out that the Mueller report looks bad for Obama. The partisan warfare over the Mueller report will rage, but one thing cannot be denied: Former President Barack Obama looks just plain bad. On his watch, the Russians meddled in our democracy while his administration did nothing about it.


The Mueller report flatly states that Russia began interfering in American democracy in 2014. Over the next couple of years, the effort blossomed into a robust attempt to interfere in our 2016 presidential election. The Obama administration knew this was going on and yet did nothing. In 2016, Obama’s National Security Adviser Susan Rice told her staff to “stand down” and “knock it off” as they drew up plans to “strike back” against the Russians, according to an account from Michael Isikoff and David Corn in their book “Russian Roulette: The Inside Story of Putin’s War on America and the Election of Donald Trump”.

Read more …

Talk about something that looks bad for Obama. And Hillary, and John McCain, and Victoria Nuland. Another failed coup for America.

Zelenskiy Crushes Poroshenko In Ukraine Presidential Election (R.)

In a popular Ukrainian TV series, comedian Volodymyr Zelenskiy played a president who is scrupulously honest and outwits crooked lawmakers and shadowy businessmen who try to stand in his way. Zelenskiy’s character in the show “Servant of the People” was loved by Ukrainians fed up with how their country had been governed since independence in 1991. On Sunday, they turned fantasy into reality after voters elected Zelenskiy by a landslide, according to exit polls, thrusting an actor with no prior political experience and few detailed policies into the presidency of a country at war.

Zelenskiy’s sudden rise comes at a time voters around the world have upended the status quo, propelling anti-establishment forces such as U.S. President Donald Trump and Italy’s 5-Star Movement, which was also once led by a comedian, to power. His victory reflected voters’ frustration with politics as usual. Just 9 percent of Ukrainians trust their national government, the lowest of any electorate in the world, a Gallup poll in March showed. Critics question Zelenskiy’s political inexperience and he remains something of an unknown quantity for investors who want reassurances that he will accelerate reforms and keep Ukraine in an International Monetary Fund program.

Zelenskiy’s unorthodox campaign put the incumbent President Petro Poroshenko on the backfoot right from the start. He announced his bid for the presidency on New Year’s Eve, upstaging Poroshenko who was giving a traditional televised address to the nation. Eschewing traditional rallies, his campaign relied heavily on quirky social media posts to his millions of online followers, jokey posters, comedy gigs and winking allusions to the fictional president he portrays on screen. He traded insults and accusations with Poroshenko in tit-for-tat social media videos and the two met in a raucous policy debate in a soccer stadium in Kiev last Friday in front of thousands of their followers.

Back in February, when asked in an interview with Reuters what sets him apart from other candidates, Zelenskiy pointed to his face. “This. This is a new face. I have never been in politics,” he said. “I have not deceived people. They identify with me because I am open, I get hurt, I get angry, I get upset. I do not hide my emotions on camera, I do not try to look different. If I’m inexperienced in something, I’m inexperienced. If I don’t know something, I honestly admit it.”

Read more …

Time to heal relations with Russia.

“Hollow And Laughable”: Russia’s 120-page Reaction To Mueller Report (ZH)

One day following last Thursday’s bombshell Mueller report — or rather we should say the report which ended three years of nonstop ‘Russiagate’ hysteria with a not-so-dramatic whimper — the Russian embassy in the US issued its own scathing report, calling the collusion conspiracy which Mueller’s team sought to uncover “hollow and laughable”. The Russian embassy also said it was “no surprise” that the investigation delivered “no tangible result” in its own massive 120-page study, released online Friday, even the title of which pulled no punches — The Russiagate Hysteria: A Case of Severe Russiaphobia.

The publication blasted a list of “groundless accusations” repeated since Trump’s 2016 election, including allegations of Russian election meddling, the Kremlin’s supposedly being behind the DNC hack, as well as Trump’s working with Russian intelligence. “After three years, more than 8,000 publications in just four main outlets (Washington Post, New York Times, CNN and MSNBC), endless congressional inquiries, 22 months of the work of Robert Mueller that cost taxpayers an estimated $32 million, more than 2,800 subpoenas, 500 witnesses interrogated, and as many search warrants, an obvious conclusion is reached – there was no collusion.”


The report also outlines multiple instances where Moscow had “fruitlessly” asked Washington to provide “hard proof” of the allegations, even going so far to offer cooperation in any investigation, but “the US refused every single time.”During the entirety of the ordeal, the embassy report finds, “All this time, Russia pointed to the obvious made-up nature of these insinuations. ”Meanwhile, Russian Foreign Minister Sergey Lavrov ripped continued lack of US cooperation related to already agreed upon US-Russia initiatives to foster US-Russian economic and business ties.

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I think there are many people who’d like to diss Maté, but don’t feel they can do that with Hedges.

Chris Hedges on Russiagate & Mueller Report with Aaron Maté (RT)

Chris Hedges discusses with Nation reporter Aaron Mate how despite the categorical statement in Robert Mueller’s report that Donald Trump and his campaign did not collude with Russia, the conspiracy theories by the nation’s mainstream media show little sign of diminishing.

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“Despite Washington’s propaganda campaign against him and Washington’s attempt to instigate violent street protests and Maduro’s overthrow by the Venezuelan military, whose leaders have been offered large sums of money, Maduro has the overwhelming support of the people..”

America: The Triumph of Evil (Paul Craig Roberts)

Today (April 17) I heard a NPR “news” report that described the democratically elected president of Venezuela as “the Venezuelan dictator Maduro.” By repeating over and over that a democratically elected president is a dictator, the presstitutes create that image of Maduro in the minds of vast numbers of peoples who know nothing about Venezuela and had never heard of Maduro until he is dropped on them as “dictator.” Nicolas Maduro Moros was elected president of Venezuela in 2013 and again in 2018. Previously he served as vice president and foreign minister, and he was elected to the National Assembly in 2000.

Despite Washington’s propaganda campaign against him and Washington’s attempt to instigate violent street protests and Maduro’s overthrow by the Venezuelan military, whose leaders have been offered large sums of money, Maduro has the overwhelming support of the people, and the military has not moved against him. What is going on is that American oil companies want to recover their control over the revenue streams from Venezuela’s vast oil reserves. Under the Bolivarian Revolution of Chavez, continued by Maduro, the oil revenues instead of departing the country have been used to reduce poverty and raise literacy inside Venezuela.


The opposition to Maduro inside Venezuela comes from the elites who have been traditionally allied with Washington in the looting of the country. These corrupt elites, with the CIA’s help, temporarily overthrew Chavez, but the people and the Venezuelan military secured his release and return to the presidency. Washington has a long record of refusing to accept any reformist governments in Latin America. Reformers get in the way of North America’s exploitation of Latin American countries and are overthrown. With the exceptions of Venezuela, Bolivia, Cuba, and Nicaragua, Latin America consists of Washington’s vassal states. In recent years Washington destroyed reform governments in Honduras, Argentina and Brazil and put gangsters in charge.

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One gets the feeling Boeing is one crash away from being sued into bankruptcy. And that crash appears certain to happen.

Boeing Dreamliner Workers Warn Of Defective Manufacturing (ZH)

Just as it looked like the fallout from the Boeing 737 MAX crashes was finally fading into the background, the New York Times is raising new questions about an entirely different Boeing plane, the Dreamliner 787. Workers at a Boeing plant in South Carolina are complaining about “defective manufacturing, debris left on planes and pressure to not report violations”. An investigation that incorporated reviewing hundreds of emails and documents, as well as interviews with more than a dozen current and former employees, has arrived at the conclusion that Boeing pushed speed over quality when it came to its Dreamliners – a story similar to the 737 MAX, which we reported faced similar critiques. This has lead to the question whether the issues at Boeing are limited to the 737, or if they are systemic.


According to the report, Boeing’s North Charleston plant has come under fire for safety lapses, and the facility has also drawn the scrutiny of airlines and regulators. In fact, Qatar Airways even stopped taking planes from the factory after “manufacturing mishaps damaged jets and delayed deliveries”. On top of that, there have been nearly 12 whistleblower claims about the plant with regulators. They describe issues like manufacturing, debris left on planes and pressure to not report violations. Additional whistleblowers have skipped that step and gone right to suing Boeing, claiming that they were victims of retaliation for bringing up manufacturing mistakes. Joseph Clayton, a technician at the North Charleston plant claimed he often found debris dangerously close to wiring beneath cockpits. He said: “I’ve told my wife that I never plan to fly on it. It’s just a safety issue.”

Read more …

No time for anything but that Brexit failure, the whole country is on hold, but wait… Time to stop approaching these people in reasonable ways. Pure evil.

Theresa May Plans To End Free School Lunches For One Million Children (Ind.)

Almost one million children from poor backgrounds will lose the right to free school meals if Theresa May pushes through cuts in the Conservative manifesto, an educational think tank has warned. The Prime Minister announced last week that universal free lunches for infants will be stopped if the Tories win the June 8 general election, with free breakfasts on offer instead. The move will cost families around £440 a year for each child affected and is thought likely to save around £650 million a year, according to the research by the Education Policy Institute (EPI).


The EPI found that those losing hot lunches would include 100,000 from families living in relative poverty, and 667,000 from those it defined as coming from “ordinary working families” of the kind that Theresa May has said she wants to help. Those from the poorest backgrounds will still be entitled to a free midday meal. EPI executive director Natalie Perera told The Observer: “Around 900,000 children from low-income families will lose their eligibility for free school meals under these proposals. Around two-thirds of those children are from what the Government considers to be ‘ordinary working families’. “The typical annual cost for an ordinary working family would increase under these proposals to around £440 for each child aged between four and seven.”

Read more …

From the Sydney Criminal Lawyers site

Indiscriminate Slaughter: The Leaks that Led to the Targeting of Assange (SCL)

Right now, Julian Assange is languishing in south London’s Belmarsh maximum security prison. He’s facing up to 12 months inside for breach of bail. And he’ll appear in Westminster Magistrates Court via video link on 2 May for a hearing related to his possible extradition to the US. It’s common knowledge that US authorities are pursuing Assange over the publication of classified US government documents. However, the charge the US hope to extradite the Australian journalist on is one count of conspiracy to commit computer intrusion. The decision to pursue a hacking charge is hardly surprising though, as following former Australian PM Julia Gillard referring to Assange’s activities as “illegal” back in 2010, the AFP found it couldn’t identify that he’d committed any offence where Australia would have the jurisdiction to prosecute.


And while the US has decided it has jurisdiction to pursue a hacking offence allegedly attempted on foreign soil, it seems it was the 2011 musings of then Senator George Brandis in regard to Assange’s possible involvement in soliciting leaks that led US authorities to take this avenue. So, it’s an opportune time to take a look at the 700,000-odd classified, or highly-sensitive, military and diplomatic documents that Chelsea Manning passed onto Wikileaks – some of which were on a compact disc marked “Lady Gaga”- that led US authorities to want to punish Assange.

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I so wish this wasn’t funny.

Media Condemns Julian Assange For Recklessly Exposing Them (ONION)

In the wake of the WikiLeaks founder’s arrest by British authorities on behalf of the U.S. for charges stemming from the publication of classified military documents in 2010, members of the American media condemned Julian Assange Friday for the reckless exposure of how they could be spending their time. “We denounce Julian Assange in the strongest possible terms for his negligence in publicly demonstrating the kinds of work journalists could actually be doing to investigate government malfeasance and hold the powerful accountable,” said Washington Post editorial page editor Fred Hiatt, speaking on behalf of many of the leading members of the media who castigated Assange for never once considering the harm that bringing rampant government criminality to light no matter the consequences could do to other news publications’ reputations.


“It’s abundantly clear that Mr. Assange was focused on exposing documented evidence of U.S. war crimes in Iraq and Afghanistan without so much as a thought for the journalists who faithfully parroted the U.S. military’s talking points when we could have been investigating information that ran contrary to that narrative—does he realize how that makes us look? The fact that he’d just publish information vital to the public interest from primary sources exactly as it was written instead of working with government officials to omit the most damaging parts in exchange for keeping access channels open is simply beyond the pale. The fact that the American public now knows what we’re actually doing day to day is incredibly harmful to this nation.”

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Apr 112019
 
 April 11, 2019  Posted by at 7:08 pm Primers Tagged with: , , , , , , , , , , ,  


Salvador Dali Hallucination. Six Images of Lenin on a Grand Piano 1931

 

47 years ago in American Pie, Don McLean talked about The Day The Music Died. Or of course the music didn’t really die, but at the same time it did. “The three mean I admired most, the father, son and the holy ghost, they caught the last train for the coast, the day the music died.”

Back then you could still have claimed the country merely lost its innocence. And you could have said the same in 1861 or 1914 or 1941. Today, not to take anything away from music, or the song, something much bigger died. America itself died, not just its music or innocence. America didn’t just lose its innocence, it pled guilty.

No doubt most of you would proclaim that’s a gross exaggeration, and an insane hyperbole, but you would all be wrong, sorry. There’s no way back this time.

America, the United States, with all its initial prejudice and lethal screw-ups, was founded as a place where people could direct their own lives without having to fear any other party, let alone a government, that would stand in their way while they did it. And a big part of not having to fear one’s government is not having to fear that government purposely lying to its citizens. The Founding Fathers, for all their faults, got that right. And today erases all of that in one fell swoop.

That is what died today. Or, you know, it may have died much earlier, and a thousand times before as well, but with the arrest in London of Julian Assange, an Australian citizen wanted by the US Deep State, a myriad of strands connecting, and connected to a bloated dying corpse came together. And now we know there is no salvation possible. Today made it all terminal. America is no more. Or it is no longer what they tell you it stands for, whichever comes first.

And it’s not just America, mind you. ‘The UK is a serious country’, PM Theresa May said today when addressing Brexit. No it’s not, Theresa, it’s a banana republic hopelessly stuck in a spaghetti western and it no longer knows the rule of law. It sells people to the highest bidder in a meat market, be they Windrush, refugees from her Majesty’s wars in Libya, or just white and poor English, or Julian Assange.

The UK is a parody on a country, it’s a sordid piece of third rate slapstick. It kills people while trying to maintain the image of being a serious country. You know, whatever that is?! The British judge Assange faced today was bleeding mocking him, the arguably greatest journalist of this century and millennium. A serious country?

 

Julian Assange Branded ‘Narcissist’ By Judge As He Faces US Extradition

Julian Assange has been branded a “narcissist” by a judge as he faces both a UK prison sentence and being extradited to the US. The Metropolitan Police said the Australian hacker was initially detained at the Ecuadorian embassy for failing to surrender to court. He had been summoned in 2012 over an alleged rape in Sweden, where authorities are now considering reopening their investigation into those allegations.After arriving at a London police station on Thursday morning, the 47-year-old was additionally arrested on behalf of the US under an extradition warrant.


Mr Assange was taken to Westminster Magistrates’ Court and found guilty of breaching bail hours later. He faces a jail sentence of up to a year. He denied the offence, with lawyers arguing that he had a “reasonable excuse” could not expect a fair trial in the UK as its purpose was to “secure his delivery” to the US. District Judge Michael Snow described the defence as “laughable”, adding: “Mr Assange’s behaviour is that of a narcissist who cannot get beyond his own selfish interests. He hasn’t come close to establishing ‘reasonable excuse’.” He remanded Mr Assange in custody ahead of a future sentencing hearing at Southwark Crown Court.

 

And where was opposition Labour leader Jeremy Corbyn when this all went on? Haven’t seen him, other then in the afternoon when he was ‘discussing’ Brexit details with May in Parliament on day 1021 since the Brexit referendum, while he should have been out in the street denouncing May and protecting Assange at the loudest voice there is.

Screw you, Jeremy, you’re a pathetic loser. No matter what else you do, there are times when you have to stand up and be counted. You were nowhere to be seen, you coward. Screw you again. And all of your family. A curse on y’all. You had a chance to be counted, and you whimped out so enormously only an elephant could whimp out more. Today was your day, and you were a no-show, again.

But don‘t you mind me, I’m not British and I’m not one of those ass-hat followers of you. I’m just someone calling you a coward. So, you know, your campaign team can keep polling and intervene as soon as they see too many ass-hats become concerned about Assange. Until then, who cares, it’s all in the numbers. It’s not as if you have any principles anyway. If you can screw up Brexit there’s no reason why you couldn’t screw up Assange’s situation as well.

 

As for the Donald, man, it’s just 6 days ago that I issued a well-meant warning to you, to tell you that those who are after Assange are the same people who are after you.

And now you’ve given those very people a huge stage to execute their anti-Assange and thereby their anti-Trump messages from. Mr. Trump, you’re helping Brennan and Clapper and Comey and their ilk persecute the only person who could ever stand up to them. And who did that better than you ever did. Because he’s so much smarter.

And where are all the media? Where are all the other governments? Where is the European Union? Where is Australia? Yes, Ecuador took away Assange’s citizenship too today, like that’s a piece of candy or something. Asylum, citizenship, they can be bought and sold whenever a bell tolls.

Why do we have international law anyway if nobody abides by any of it? You can’t just grant someone asylum, and then a citizenship, and then rescind it when you like on a rainy morning when your medication runs out or they’re on to you for blatant fraud, Lenin Moreno. Do that and all international law becomes null and void. Hereby.

 

Pardon me, I’ve just been, like hopefully many people are, so sad and angry and despondent today, all day. The entire world watched the music die today, and never realized it, and a man much smarter and braver and real than any of us is out there paying for our sins, and we have no media left to tell us an honest story about it, and George Orwell is laughing somewhere out there.

And I am still stupid enough to think that we can do better.

 

 

 

Apr 072019
 


Leonardo da Vinci (?) La Joconde nue or Monna Vanna 1515

 

Furious Tory MPs Will Bid To Oust May If UK Fights Euro Poll (O.)
I Had No Choice But To Approach Labour Over Brexit – May (BBC)
UK PM May Has Plan To Offer Labour Brexit Customs Arrangement (R.)
Merkel Throws May A Lifeline Over Brexit Departure Date (O.)
Labour Chairman Attacks Corbyn Over ‘People’s Vote’ On Brexit (O.)
Second Brexit Vote Would Be ‘Ultimate Betrayal’: Leadsom (R.)
Leaked Assange Court Transcript Sheds Light on Ecuador Expulsion Plans
UN Against Extraditing Assange To US: He Could Be Tourtured There (Taer)
The Breach of Bail Allegation Against Assange (M.)
Banning Buybacks Would Crash The Market – Goldman (ZH)
Give Up, Trump-Haters (NYPost)
Why Was There No Backup System On 737 MAX? (USAToday)
Skyscrapers Are Killing Up To 1 Billion Birds A Year In US (G.)
Rhino Poacher Trampled By Elephant Then Eaten By Lions (BBC)

 

 

We will from now on no longer use the term No-Deal Brexit, it is to be replaced with: Car-Crash Brexit.

NOTE: there are numerous factions and fractions that all think Brexit can mean what they happen to want it to mean. And then there’s all the people who don’t want Brexit. Whatever the outcome, there’ll be a lot of pissed-off and angry people. Both May and Corbyn are responsible for not managing the expectations.

Furious Tory MPs Will Bid To Oust May If UK Fights Euro Poll (O.)

Theresa May is being warned by her mutinous MPs that they will move to oust her within weeks if the UK is forced to take part in European elections next month and extend its EU membership beyond the end of June. Tory MPs are increasingly angry at the prospect of voters being asked to go to the polls to elect MEPs three years after the Brexit referendum, in an election they fear will be boycotted by many Conservatives and be a gift to the far right and Nigel Farage’s new Brexit party. Senior Tories said one silver lining of a long extension would be that it would allow them to move quickly to force May out, and hold a leadership election starting as soon as this month.

The warnings came as the prime minister made a last desperate appeal on Saturday night to MPs to back a deal, saying there was an increasing danger Brexit would “slip though our fingers”. May said: “Because parliament has made clear it will stop the UK leaving without a deal, we now have a stark choice: leave the European Union with a deal or do not leave at all. “The longer this takes, the greater the risk of the UK never leaving at all. It would mean letting the Brexit that the British people voted for slip through our fingers. I will not stand for that. It is essential we deliver what people voted for, and to do that we need to get a deal over the line.”

Conservative MP Nigel Evans, an executive member of the 1922 committee of backbenchers said last night that, if May failed to deliver Brexit and all she could do was secure a long extension at an EU summit on Wednesday, she would face overwhelming pressure to step down. “At the moment there is focus on delivering Brexit, but if a long delay becomes a reality I believe the noises off about removing the prime minister will become a cacophony,” he said. “I and many other Conservatives would prefer leaving the EU on World Trade Organisation terms to any humiliating long extension that forces us to take part in the European elections.”

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Problem is, you’re three years late.

I Had No Choice But To Approach Labour Over Brexit – May (BBC)

Prime Minister Theresa May has insisted she had to reach out to Labour in a bid to deliver Brexit or risk letting it “slip through our fingers”. In a statement on Saturday night, Mrs May said there was a “stark choice” of either leaving the European Union with a deal or not leaving at all. Some Conservatives have criticised her for seeking Labour’s help after MPs rejected her Brexit plan three times. Three days of talks between the parties ended without agreement on Friday. Labour leader Jeremy Corbyn said he was “waiting to see the red lines move” and had not “noticed any great change in the government’s position”. He is coming under pressure from his MPs to demand a referendum on any deal he reaches with the government, with 80 signing a letter saying a public vote should be the “bottom line” in the negotiations.


In her statement, Mrs May said that after doing “everything in my power” to persuade her party – and its backers in Northern Ireland’s DUP – to approve the deal she agreed with the EU last year, she “had to take a new approach”. “We have no choice but to reach out across the House of Commons,” the PM said, insisting the two main parties agreed on the need to protect jobs and end free movement. “The referendum was not fought along party lines and people I speak to on the doorstep tell me they expect their politicians to work together when the national interest demands it.” Getting a majority of MPs to back a Brexit deal was the only way for the UK to leave the EU, Mrs May said. “The longer this takes, the greater the risk of the UK never leaving at all.”

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The Tories don’t want a customs deal.

UK PM May Has Plan To Offer Labour Brexit Customs Arrangement (R.)

British Prime Minister Theresa May’s government has a plan to enshrine in law a customs arrangement with the European Union in a bid to win over the opposition Labour Party to back a Brexit deal, The Sunday Times newspaper reported. n“Under the new plan, the prime minister would offer to rewrite the government’s withdrawal bill to enshrine a customs arrangement in law,” the newspaper said. May is trying to win over the main opposition party after her negotiated Brexit deal was voted down by parliament on three occasions.

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Merkel has told Macron to do the heavy lifting.

Merkel Throws May A Lifeline Over Brexit Departure Date (O.)

Angela Merkel is open to backing Theresa May’s request for a short Brexit extension as the German chancellor seeks to maintain the pressure on British MPs to support the withdrawal agreement, according to senior EU sources. In the face of moves from elsewhere in the EU to insist on a longer delay to Britain’s departure, Merkel is keeping all options on the table ahead of this week’s EU summit and is said to be willing to back 30 June as an exit date. She is thought to be concerned that Donald Tusk’s proposal of a year-long extension, with an option to exit earlier on ratification of the withdrawal agreement, could be self-defeating. The thinking in Berlin will be a boon to the prime minister, who on Friday proposed the 30 June extension, with the promise that the UK would hold European elections if it had not ratified the withdrawal agreement by 22 May.


Tusk, as president of the European council, suggested on the same day that his “flextension” would put the onus on the British government to decide its own fate while freeing Brussels from repeatedly revisiting the issue. But Merkel is said to understand May’s anxiety that this idea would lift pressure on the Commons to ratify the withdrawal agreement. Diplomats from other EU capitals have suggested that, given the divisions between leaders, a compromise position could be a summer-end date, with a commitment to hold European elections. Germany has clashed with France over the issue. Last week the French president, Emmanuel Macron, warned that Britain and the EU were heading for no deal, and that the bloc could not “forever be the hostage of a political crisis in the UK”.

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Both parties are divided as can be. And everyone thinks they can get what they want.

Labour Chairman Attacks Corbyn Over ‘People’s Vote’ On Brexit (O.)

Jeremy Corbyn was warned by Labour party chairman Ian Lavery that he risked going down in history as the leader who split his party if he backed another referendum on Brexit, in an extraordinary outburst during a meeting of the shadow cabinet last week, according to senior party sources. The Observer has been told that Lavery, who has twice defied the whip and abstained on votes on another referendum, delivered the broadside at Corbyn during a shadow cabinet meeting on Wednesday evening, at which Corbyn updated his frontbench team on talks with the government aimed at ending the Brexit impasse. According to senior figures, Lavery spoke out at the end of the meeting saying he knew his comments would be leaked but was determined to make his point.


“He was very angry and wagged his finger at Jeremy, telling him that if he backed a referendum he would go down in history as the Labour leader who split the party,” said one shadow cabinet member. “Jeremy just sat there.” The outburst stunned shadow cabinet members who said it would have sparked a full-scale shouting match if MPs had not been called to vote at the very moment he made his intervention. At the same meeting several senior figures, including shadow home secretary Diane Abbott and deputy leader Tom Watson, spoke out in favour of Labour backing a “confirmatory referendum” on any deal agreed by MPs, with remaining in the EU as the alternative on the ballot paper.

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It’s safe to say the ultimate betrayal has already occurred: a government that utterly failed to prepare.

Second Brexit Vote Would Be ‘Ultimate Betrayal’: Leadsom (R.)

A second public vote on Britain’s membership of the European Union would be the “ultimate betrayal”, Andrea Leadsom, the leader of the House of Commons or lower house of parliament, wrote in the Sunday Telegraph newspaper. “The ultimate betrayal would be a second referendum,” wrote Leadsom, a Brexiteer. “It would require lengthy delay, it would reignite the divisive debate, and since Parliament has so far failed to follow the first result, there is no reason to believe it would honor a second referendum either.” Lawmakers have rejected Prime Minister Theresa May’s negotiated agreement on Brexit with Brussels, and talks are underway with the opposition Labour Party to reach a compromise. “The vision we had of Brexit is fading away – and we are running out of time to save it,” Leadsom said.

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Cassandra Fairbanks.

I don’t really think much of people congratulating themselves because he hasn’t been expelled yet and they think they made that happen. What I think this is about is two-fold:

1) UN got involved.
2) Moreno is under investigation in Ecuador for fraud. He better sit still for now and not stir up things. If Assange is targeted now, Moreno will be accused of doing that for political purposes.

Leaked Assange Court Transcript Sheds Light on Ecuador Expulsion Plans

The Gateway Pundit has exclusively obtained a court transcript of an appeal made by WikiLeaks publisher Julian Assange in an Ecuadorian court, in which the publisher accused the Ecuadorian government of preparing to revoke his political asylum at the behest of the United States and United Kingdom. Assange has not been heard from in public since March 28, 2018 after an executive gag order by the government of Ecuador. The following, unpublished, “leaked” transcript of Assange asking an Ecuadorian court for an urgent injunction (“protection order”) against his gagging and isolation is from October 29, 2018.

Journalists and media were banned from recording the proceedings, but a court record was later obtained through legal process and provided to The Gateway Pundit. It has never before been revealed. “I have been in this embassy without sunlight for six years and essentially isolated from most people for seven months and, including electronic communication, the telephone etc, from my young children,” Assange told the court according to the transcript. “It has … interfered with my ability to work, to make a living, and with my deeply held principles that I have fought for all my life, which is to uphold the right of freedom of expression, the right for people to know, the right of the freedom of the press and the right for everyone to participate in their society and the broader society.”

Assange also told the Ecuadorian court that his gag order meant that he could not respond to false statements about himself. “Due to my isolation, I have not been able to participate in the debates occurring around me and that has resulted in a climate of libel and fake news that might be expected for someone who has been in the business of exposing very large and very powerful corrupt organisations or organisations that abuse human rights.” Assange also said that members of the Ecuadorian Government had been involved in spreading information denigrating his character, something that he said saddened him given how proud he was of becoming an Ecuadorian citizen in 2017.

The publisher, who was nominated for the Nobel Peace Prize in 2019, went on to detail the importance of his work. He specifically highlighted his publication of US diplomatic cables which revealed hard truths about the wars in Iraq and Afghanistan. “There was no allegation that I had done anything other than what a journalist does, just that I have been a rather good one and effective one.” The publisher stated that he did not apply for asylum at the embassy to live there. He applied so that he may go and live safely in Ecuador, but that the UK’s efforts to arrest him have made that impossible.

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Melzer wants to visit Assange on April 25. Looks like Ecuador will make sure he’s still in the embassy by then.

UN Against Extraditing Assange To US: He Could Be Tourtured There (Taer)

The UN Special Rapporteur on torture Nils Melzer is alarmed by reports that Julian Assange, the founder of WikiLeaks, may be expelled imminently from the Embassy of Ecuador in London, saying he intended to personally investigate the case. “In my assessment, if Mr. Assange were to be expelled from the Embassy of Ecuador, he is likely to be arrested by British authorities and extradited to the United States,” said the UN expert. “Such a response could expose him to a real risk of serious violations of his human rights, including his freedom of expression, his right to a fair trial and the prohibition of cruel, inhuman or degrading treatment or punishment.

“I therefore urge the Government of Ecuador to abstain from expelling Mr. Assange from its Embassy in London, or from otherwise ceasing or suspending his political asylum until such time as the full protection of his human rights can be guaranteed. “Should Mr. Assange come under British jurisdiction for any reason, I urge the British Government to refrain from expelling, returning or extraditing Mr. Assange to the United States or any other jurisdiction, until his right to asylum under refugee law or subsidiary protection under international human rights law has been determined in a transparent and impartial proceeding granting all due process and fair trial guarantees, including the right to appeal,” said Melzer.

“According to information I have received, Mr. Assange is at risk of extreme vulnerability, and his health is in serious decline. I therefore appeal to the Ecuadorian authorities to continue to provide him, to the fullest extent possible in the circumstances, with adequate living conditions and access to appropriate medical care.

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“UK knows that Julian Assange had a reasonable cause. It was his universal human right to seek asylum. So the arrest warrant has no basis & Julian did not breach his bail.”

UK’s arrest warrant is illegal under international law.

The Breach of Bail Allegation Against Assange (M.)

The only legal issue generally thought to be outstanding for Julian Assange in the UK is a breach of bail conditions. However, a list circulated by Wikileaks to correct misconceptions has rightly stated: “It is false and defamatory to suggest that Julian Assange has ever “breached his bail”, “jumped bail”, absconded, fled an arrest warrant, or that he has ever been charged with such at any time.” In fact, bail is not actually breached unless there is a failure to meet bail conditions “without reasonable cause.” This was mentioned in passing when Emma Arbuthnot ruled to uphold the arrest warrant for breach of bail:

“The offence of absconding by a person released on bail is set out in section 6 of the Bail Act. If a person who is on bail fails without reasonable cause to surrender he shall be guilty of an offence. On a straightforward reading of the section, which makes no mention of any underlying proceedings, 1. Mr Assange has been released on bail, 2. He has failed to surrender and 3. If he has no reasonable cause he will be guilty of an offence.”

The excerpt below from Page 2 of an earlier ruling from Judge Riddle ironically reflects the fact that there was indeed a reasonable cause and the UK knew it. This reasonable cause was the universal human right to seek asylum, and it was exercised with unprecedented international notoriety. This was apparently not lost on whoever was directing the UK strategy, since it was a full nine days before his appearance was requested with a day’s notice at Belgravia Police Station, predictably followed the next day with an arrest warrant when he did not appear.

[..] without such an arrest warrant, the UK would have no pretext to extract him from the embassy. Its awareness of lacking justification was then further shown by waiting another six weeks for Ecuador to fold under pressure to reject the asylum claim. Yet when it was finally obvious that asylum was about to be granted, they did in fact try their luck with a threat to revoke the diplomatic status of the embassy in order to arrest him. That obviously did not work. Waiting so long and then overplaying their hand was a reassuring indication that their wits didn’t quite measure up to their malice. Yet what else could they do, since it was obvious that international law took precedence on the world stage when he walked into the embassy?

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That so-called ‘market’ is the Fed and the companies its ultra-low rates allow to buy themselves.

Banning Buybacks Would Crash The Market – Goldman (ZH)

Few topics prompt as powerful (and violent) a response from financial professionals as what the role of financial buybacks is in determining stock prices. One group, largely those bulls who after a decade of central bank manipulation still believe that markets are efficient and unrigged, and in hope of increasing their AUMs claim that they are financial geniuses for riding the world’s biggest financial bubble in history, argue that stock buybacks have no impact on stock prices.

Others, those who actually understand that if there is a trillion dollars in price indiscrimiante stock bids (as was the case in 2018 and will again happen in 2019) is the single most effective way to boost stock prices (and management’s incentive-linked comp, linked to higher stock prices), know – correctly – that corporate buybacks, which until not too long ago were banned, and which over the past decade emerged as the single biggest source of stock purchases, are one of the two most important factors behind the all time highs in the stock market (the other being the Fed, whose policies have allowed companies to issue debt with record low yields, allowing them to fund these trillions in buybacks).

And with the debate raging, either side happy to “convince” others in its echo chamber while hurling insults at the other, few have been as vocal in their defense of stock buybacks as Goldman Sachs. One month ago, the firm’s chief equity strategy David Kostin wrote a report – let’s call it the carrot – seeking to debunk “misconceptions” about stock buyabcks, which he claimed had gotten an unfair rap in the US. Specifically, Kostin said that “one of the greatest misconceptions in the public discourse surrounding corporate buybacks is the belief that managements repurchase stock in an attempt to inflate earnings per share and meet incentive compensation targets,” Goldman wrote.

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What’s become of the media when the NY Post provides the most balanced view?

Note: Judicial Watch has launched the first lawsuit, see video.

Give Up, Trump-Haters (NYPost)

Proving themselves happy to pander to folks who can’t let go of the Collusion Delusion, The New York Times and Washington Post are both suggesting that Attorney General William Barr spun special counsel Robert Mueller’s report to make President Trump look good. But neither account amounts to more than clickbait. Previewing Thursday’s front-page story, a Times online headline Wednesday screamed: “Some on Mueller’s Team Say Report Was More Damaging Than Barr Revealed.” The Washington Post ran a similar story. Message: The truth is out there! Barr’s just corruptly covering up for Trump!

Except that neither paper even pretends to have such info from anyone “on Mueller’s team” — just chatter from people who say they’ve talked to Muellerites. It’s a shameless followup to months of stories in both papers, and across much of the media, that relied on anonymous sources to feed the Delusion. Especially when it’s already known that Mueller’s report has some info that will make the president look bad — because Barr said so, noting that Mueller found “evidence on both sides of the question” of obstruction.

Of course Barr’s four-page summary of a 300-plus page document left out plenty. But there’s no coverup: The AG plans to release the report in a week or two (after it’s redacted in accordance with laws and Department of Justice rules) so folks can read it for themselves. It’s also nuts to think Barr would lie about Mueller’s findings: Mueller himself would go public rather than let that happen. But die-hard Trump haters can’t let go, and their media and political enablers don’t want to disappoint them. (Thus Rep. Jerry Nadler’s grand show of threatening to subpoena the full Mueller report.) Much of the news media, and many top Democrats, already have egg on their faces, thanks to Mueller’s findings. It’s astounding that they’re trying to recover by digging the hole deeper.

https://twitter.com/i/status/1114664077551267841

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Confirms what I wrote a few days ago. A niece of Ralph Nader was killed in the second crash. He won’t rest.

Why Was There No Backup System On 737 MAX? (USAToday)

When it comes to safety, modern commercial aircraft are known not only for having back-up systems, but in some cases, back-ups of their back-ups. So even as Boeing has taken responsibility for a fatal flaw in a key anti-stalling system in its 737 Max 8, mystery still surrounds why the software was designed to be dependent on a single outside sensor, though it was equipped with two, triggering a chain of events that led to the crashes of Lion Air and Ethiopian Airlines jetliners less than five months apart. Boeing “violated a basic principle of aircraft design by allowing a single point failure to trigger a sequence of events that could result in a loss of control,” said Brian Alexander, an attorney for a law firm specializing in aviation accidents, Kreindler & Kreindler in New York, that is contemplating lawsuits on behalf of victims’ families in the Ethiopian Airlines crash.

Based on an initial report from crash investigators, Boeing CEO Dennis Muilenburg acknowledged Thursday that erroneous data sent to the system led to the Lion Air crash off Indonesia in October that killed 189 passengers and crew and the Ethiopian Airlines disaster in Africa that took 157 lives on March 10, both in the 737 Max 8. He vowed Boeing would fix the problem. Others, however, aren’t so sure that Boeing can find an adequate repair, saying that the twin crashes are proof that the plane’s problems run deeper than flawed sensors. They say the design itself has created inherent problems that simple fixes won’t solve. “You go to the source of the problem, not the symptom,” said consumer advocate Ralph Nader, who lost a niece in the Ethiopian Airlines crash. “An aircraft has to be designed stall proof, not stall prone.”

[..] The single source of data seems unusual given the lengths that Boeing has gone to build redundancies into its jetliners. For the 777, Boeing’s twin-aisle intercontinental jet, engineers created triple redundancy for its computers, hydraulics, communications and electrical power. Perhaps the best illustration of the lengths that the company was willing to go on back-ups was found in the plane’s primary flight computer. It was built with three microprocessors, instead of one, and each of them came from a different manufacturer: Intel, AMD and Motorola, according to an account by a Boeing engineer.

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My first thought was that looks like a really big number. But I don’t want to question the Smithsonian either.

Skyscrapers Are Killing Up To 1 Billion Birds A Year In US (G.)

Scientists estimate that at least 100 million and maybe as many as a billion birds die each year in the US when they collide with buildings, especially glass-covered or illuminated skyscrapers. And, in a new report, conservationists now have a better idea which American cities are the deadliest for those on the wing. Chicago, with its many glass superstructures that spike into what is the busiest US avian airspace during migration, is the most dangerous city for those feathered travelers. More than 5 million birds from at least 250 different species fly through the Windy City’s downtown every fall and spring. They journey twice a year, many thousands of miles, going north in the spring from Central and South America, across the Great Lakes to Canada, and back south in the fall.

The famous skyline of Manhattan is another death trap for birds, especially those migrating. “They wind up landing somewhere that’s unfamiliar, like a sidewalk somewhere,” said Susan Elbin, director of conservation and science at New York City Audubon, a leading bird advocacy organization. “Then when daylight comes, and they want to get more food, they’ll fly into a tree that they think is a tree, and it’s really a reflected tree in some glass building … Then they’ll slam into the glass, and then they die.” Most birds migrating through the US do so at night, when the airspace is cool and calm – and often end up veering through cities because their glow stands out. Scientists have long known that birds are attracted to light, so when they fly over a bright city at night, they are naturally drawn toward it, unaware they are in dangerous territory.

[..] As the experts admit, it’s hard to get reliable statistics. New York City Audubon conducts “collision monitoring studies” in September and April each year, sending dozens of volunteers into the city streets to track fallen birds. The organization estimates about 90,000 to 200,000 birds are killed via building collision in the city each year. Local Audubon chapters and other bird conservation groups around the country coordinate similar data collection exercises. On a national scale, the Smithsonian’s migratory bird center estimated the number of deaths to be between 100 million and one billion birds annually, using data from a wide variety of different groups across the country.


Skyscrapers in New York City. Photograph: Michael Nagle/Bloomberg

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Is it okay if I find this okay?

Rhino Poacher Trampled By Elephant Then Eaten By Lions (BBC)

A suspected rhino poacher has been trampled on by an elephant then eaten by a pride of lions in Kruger National Park, South Africa. Accomplice poachers told the victim’s family that he had been killed by an elephant on Tuesday. Relatives notified the park ranger. A search party struggled to find the body but eventually found a human skull and a pair of trousers on Thursday. The managing executive of the park extended his condolences to the family. “Entering Kruger National Park illegally and on foot is not wise,” he said. “It holds many dangers and this incident is evidence of that.” Kruger National Park has an ongoing problem with poaching and there remains a strong demand for rhino horn in Asian countries. On Saturday, Hong Kong airport authorities seized the biggest haul of rhino horn in five years, valued at $2.1m.


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